We need to talk about Admin II

[RANGERRAB 3,732]

It terrifies me that we have fans even slightly considering that admin 2 could be a positive

 

What's even more worrying is we have so-called Rangers supporters who think Admin2 would be a good thing.

We'd almost certainly be put back in the lowest division. The SPFL have stated administrations will be on a case by case basis from now on.

We need to get back to the top flight ASAP and into Europe again.

[simplythebest 0]

It's equally terrifying that there are fans prepared to accept sale and leaseback of our training ground, stadium and real estate to fund an incompetent board's asset stripping investors.

 

Who's said that?

[RANGERRAB 3,732]

It's equally terrifying that there are fans prepared to accept sale and leaseback of our training ground, stadium and real estate to fund an incompetent board's asset stripping investors.

 

if our supporters decide not to support the club what option do they have ? the choice is ours.

All of this reeks of the Murrays & DK trying to hijack the club without investing a penny.

[RANGERRAB 3,732]

Who's said that?

 

no one. It's the usual unsubstantiated claims

[calscot 0]

The only 'alternative' we have to the status quo is DK who seems to me to have given his game away by suggesting he was reluctant to part with his kids inheritance.

 

I'm really not sure that you understand what "reluctant" means. It's actually usually used when people actually DO something, rather than not. So you're really saying that he's shown his hand by definitely putting up the money but reluctantly - just like we (mostly) all pay our utility bill and council tax increases reluctantly.

 

There is also the part you miss that this is obviously only a PART of their inheritance and if it wasn't, he wouldn't be reluctant, he would be saying, "I'm NOT going to spend my kids inheritance." I think the point is that they will still inherit enough for anyone to be comfortable for the rest of their lives.

 

How old are his kids anyway, and surely he's brought them up to make their own comfortable living?

 

I really don't get the spin doctoring from you, it really degrades any appreciable case you may have, and how are you going to look if he does eventually invest?

[RANGERRAB 3,732]

I'm really not sure that you understand what "reluctant" means. It's actually usually used when people actually DO something, rather than not. So you're really saying that he's shown his hand by definitely putting up the money but reluctantly - just like we (mostly) all pay our utility bill and council tax increases reluctantly.

 

There is also the part you miss that this is obviously only a PART of their inheritance and if it wasn't, he wouldn't be reluctant, he would be saying, "I'm NOT going to spend my kids inheritance." I think the point is that they will still inherit enough for anyone to be comfortable for the rest of their lives.

 

How old are his kids anyway, and surely he's brought them up to make their own comfortable living?

 

I really don't get the spin doctoring from you, it really degrades any appreciable case you may have, and how are you going to look if he does eventually invest?

 

I'd be absolutely delighted to be proved wrong if DK does invest. Meanwhile the wait goes on....................

[calscot 0]

I'd be absolutely delighted to be proved wrong if DK does invest. Meanwhile the wait goes on....................

 

Yep, there's a difference between not investing and not investing yet. He's given the situation where he would invest and it hasn't been presented yet.

 

I'd also be surprised that you'd be delighted as I get the impression that you're not a fan of DK...

[der Berliner 3,803]

King had his oversea's money back since March 2013. He has - as far as we know - not invested a single penny into the club, whereas people like Easdale, Prior, Laxey and R&M have - and thus getting us to the state we are in. King could even buy shares now to get a foothold - at a very low price by anyone's standards. People may see it differently, but if King tries to get the club via another admin or admin-like event, his "Bluenose" status goes right out of the window.

Obviously, he could invest anytime soon and try to get his hand at the "in-house" shares. We'll see whether that happens though.

 

As for Rab and the inheritance stuff, not much spin doctoring involved when these were actually King's musings, not Rab's. I almost shed a tear when reading it for the first time.

[forlanssister 3,114]

You need to be unable to pay creditors before going into administration. Who do Rangers owe money to?

Also you just cannot go into administration if you want to. Any business with any cash shortfall could do that to avoid paying its dues. An application has to be made to the courts like Whyte did. The courts may well reject this.

My view is that the board would need to raise monies by other means whatever they may be i.e shares issue or selling of MP however unpopular that may be.

Admin II would be catastrophic and could easily see us back in the bottom tier of Scottish football. Does anyone want that? I don't.

Let's face it this is all about King & the Murrays getting in the boardroom without putting in a single penny.

Those so-called Rangers supporters seeking to destroy Rangers at the moment will only cause longterm irreparable damage and the club will never return to its place at the top of Scottish football & beyond

 

The inability to pay bills as they fall due is all that's required IIRC (plenty bean counters on here to correct me if that interpretation is incorrect).

 

The Easdale/Letham loans are in indication of how close we've come to that scenario already.

 

Admin II would be a totally unnecessary event as the club already has the facilities to harvest the cheapest form of raising capital via the existing power to issue 43.4m shares on a preemptive basis and it can call a GM and propose a resolution in order to hold an open rights issue.

[forlanssister 3,114]

King had his oversea's money back since March 2013. He has - as far as we know - not invested a single penny into the club, whereas people like Easdale, Prior, Laxey and R&M have - and thus getting us to the state we are in. King could even buy shares now to get a foothold - at a very low price by anyone's standards. People may see it differently, but if King tries to get the club via another admin or admin-like event, his "Bluenose" status goes right out of the window.

Obviously, he could invest anytime soon and try to get his hand at the "in-house" shares. We'll see whether that happens though.

 

As for Rab and the inheritance stuff, not much spin doctoring involved when these were actually King's musings, not Rab's. I almost shed a tear when reading it for the first time.

 

Not for the first time you're confusing purchasing shares in the market with investment in the club when they are actually two totally separate things.