der Berliner 3,815 Posted October 10, 2014 Share Posted October 10, 2014 Newcastle United’s financial position is currently; 1. Mike Ashley has made clear Newcastle United has to live within its means, he isn’t going to put his own money in to subsidise the running of his club (asset). 2. The second part of the equation is that the income Newcastle bring in from commercial activities and match day revenue streams, is far lower than that of those top six and much of a muchness now with clubs such as Everton, Villa and others. this is from a Newcastle supporters website. Accounts for the years he's been in charge at Newcastle tell their own story. http://www.themag.co.uk/tyne-talk/ggg/ they clearly show revenues normally going into any club are diverted to Sports Direct Newcastle get money from Sky et al that is on a different planet than Rangers. That is where he can get his fingers in. Will he get that same from Rangers when it comes to retail et al? Is that what he is looking for? As for the money, the Guardian whipped up this graphic some time ago. It is obvious that Newcastle is not run in any way close to what supporters look for, but an Ashley in the background will keep it from falling apart as well. Is this what we look forward to see as Rangers future? Not for a second. Do we have a future with the current people running the show though? 0 Quote Link to post Share on other sites More sharing options...
buster. 5,264 Posted October 10, 2014 Share Posted October 10, 2014 (edited) Different graphic that appeared on FF this morning . Feel free to use on social media and spread around !! Edited October 10, 2014 by Zappa 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 10, 2014 Share Posted October 10, 2014 Saw some talk yesterday that the 16 million would initially be a loan that was convertible to shares on shareholder approval. That means the money can be raised by the board without an eGM. Probably why Ashley wants Nash and Wallace off the board. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 10, 2014 Share Posted October 10, 2014 Saw some talk yesterday that the 16 million would initially be a loan that was convertible to shares on shareholder approval. That means the money can be raised by the board without an eGM. Probably why Ashley wants Nash and Wallace off the board. The call for an EGM was made solely to remove Wallace and Nash from the board. There would still need to be shareholder approval at an AGM to bring about the changes needed to issue the new shares. If that is rejected, and given the parlous state of the club, how exactly would this £16m loan be repaid? Also, what guarantees would be required by the loanees? The whole scenario appears to be full of holes. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted October 10, 2014 Share Posted October 10, 2014 N Saw some talk yesterday that the 16 million would initially be a loan that was convertible to shares on shareholder approval. That means the money can be raised by the board without an eGM. Probably why Ashley wants Nash and Wallace off the board. Can the board approve such a large deal that coverts into shares? Looking at the board make up it appears that would go through 3/2. Maybe 4/1 depending on Somers' position. Very clever if that's the aim. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 10, 2014 Share Posted October 10, 2014 The call for an EGM was made solely to remove Wallace and Nash from the board. There would still need to be shareholder approval at an AGM to bring about the changes needed to issue the new shares. If that is rejected, and given the parlous state of the club, how exactly would this £16m loan be repaid? Also, what guarantees would be required by the loanees? The whole scenario appears to be full of holes. It would have to be approved or the company would go under with kingco in complete control of the admin as far as I can see. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 10, 2014 Share Posted October 10, 2014 N Can the board approve such a large deal that coverts into shares? Looking at the board make up it appears that would go through 3/2. Maybe 4/1 depending on Somers' position. Very clever if that's the aim. It must be 3-2 or Ashley would be wanting 3 removed. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 10, 2014 Share Posted October 10, 2014 Perhaps also worth noting that kingco appear to be offering to pay 20p a share which is pretty over the odds for such a large new issue. BrahimHemdani was predicting 10 or 15p I believe. This may sway many shareholders. Especially if the alternative is admin. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 10, 2014 Share Posted October 10, 2014 It would have to be approved or the company would go under with kingco in complete control of the admin as far as I can see. Unless you are hinting at him forcing administration, I don't see how you get to the company going under with King calling the shots. If that is what you are suggesting, I would urge you to whisper it! I still don't see the board pushing this through and the likes of Ashley sitting idly by as it happens. Perhaps it is me being thick here, but I just don't get it at all. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 10, 2014 Share Posted October 10, 2014 Perhaps also worth noting that kingco appear to be offering to pay 20p a share which is pretty over the odds for such a large new issue. BrahimHemdani was predicting 10 or 15p I believe. This may sway many shareholders. Especially if the alternative is admin. Every shareholder will own half as much as they did beforehand. 0 Quote Link to post Share on other sites More sharing options...
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