Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept

[Super Cooper 0]

My memory is not what it was...but didn't our CE say a few months ago that we had enough money to get through the season?

 

No, he said we only had "enough to operate in the short to medium term." That could have meant anything i guess, days, weeks, even a month or two.

[forlanssister 3,114]

Any hope that Wallace would be a positive influence in the boardroom has all but vanished.

[Zappa 0]

The interest on the Laxey loan is certainly high, but the big question for me is 'when' did we actually starting using borrowed money? There was a credit facility of £2.5m mentioned in the accounts and mentioned at the AGM, so has that already been used or are we currently using it? If we're using or have used that £2.5m loan as well, then who was the lender and what were the terms of the loan?

[Super Cooper 0]

Loan guaranteed against the Albion and Edmiston House.

[forlanssister 3,114]

One rather bizarre side effect of this deal is that it is now in the interests of our largest shareholder to see the shareprice collapse over the next six months!

[Bluedell 5,679]

Loan guaranteed against the Albion and Edmiston House.

 

I doubt we can expect anyone to give us an unsecured loan, particulalry given the way Ticketus got "shafted", so don't have an issue with it. the security is only an issue if we can't repay the loans, and if we are in that situation we have much bigger problems.

[Super Cooper 0]

I doubt we can expect anyone to give us an unsecured loan, particulalry given the way Ticketus got "shafted", so don't have an issue with it. the security is only an issue if we can't repay the loans, and if we are in that situation we have much bigger problems.

 

Surely the current situation of actually needing this loan is bad enough and a sure warning sign?

[Frankie 8,652]

Surely the current situation of actually needing this loan is bad enough and a sure warning sign?

 

Like BD, the security doesn't bother me but it's more a worry of that if we need this bridging loan now, what about future years?

 

Will we need £1.5m next February? Or double that? Triple?

 

What about being able to improve the squad?

 

All these increased/unaffordable costs and we still haven't seen any sort of staff departures at any level within the club.

[Super Cooper 0]

Like BD, the security doesn't bother me but it's more a worry of that if we need this bridging loan now, what about future years?

 

Will we need £1.5m next February? Or double that? Triple?

 

What about being able to improve the squad?

 

All these increased/unaffordable costs and we still haven't seen any sort of staff departures at any level within the club.

 

I fully agree mate.

[rbr 1,266]

This is heartbreaking , and really worrying that this new board are happy to go along with it