chilledbear 16 Posted October 18, 2014 Share Posted October 18, 2014 it would be nice to have some positive news for a change lets hope the end of this blinking financial mess is in sight and the club can move forward Hope so mate, but I think at the best it will just be the start with a long way to go. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,815 Posted October 19, 2014 Share Posted October 19, 2014 Another snippet from FF All I know is he has flew out to meet a collection of people/investors and isnt in the uk but is within europe! And to the poster above who has said about king and ashley not meeting each other that is true but I believe they will meet over the weekend but ashkey and his men have met paul murray on several occasions 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,815 Posted October 19, 2014 Share Posted October 19, 2014 Another snippet, same poster as above ... We will know by friday, if this bid is rejected then we have a serious problem as this bid is an extremely generous offer and makes sense for all parties! Mr letham and mr murray were in bar72 in saturday and gave the "yes hopefully" answer whwn asked about the bid 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 19, 2014 Share Posted October 19, 2014 yes hopefully is very non committal in reality. 20p a share seems generous for a large new issue. assuming thats correct. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted October 20, 2014 Share Posted October 20, 2014 I see Jackson tweeted that there is no Monday deadline, no deadline at all in fact - though he thinks the coming week will be crucial. 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted October 20, 2014 Share Posted October 20, 2014 http://www.dailyrecord.co.uk/opinion/sport/keith-jackson-dave-king-jets-4467044 Keith Jackson: Dave King jets in for crunch Rangers talks - but will his deal get past Mike Ashley Oct 20, 2014 07:44 OPINION BY KEITHJACKSON WITH King due to land at Ibrox for his latest power play today, KEITH looks at his bid for control and asks, how will Ashley respond? 1 Share Share Tweet +1 Email Paul Chappells/Daily RecordDave King leaves Ibrox with George Letham THE tail end of hurricane Gonzalo is set to wheeze and splutter its last breaths over Scotland at some point in the next 24 hours. In terms of sheer irony, it could not have timed its arrival any more aptly because Dave King will also touch down back on home soil today and when he does he too will be trying his best to whip up the perfect storm rather than fizzle out in a whimper. King left the country on Thursday, just 48 hours after walking back into the eye of the Ibrox power struggle but this was more of a respite than a full-scale retreat. On Tuesday he met with Graham Wallace and members of the Rangers board to outline the terms and conditions behind his offer of a £16million bailout and this morning he will be back looking for answers. This is King’s long-awaited big play. The beginning of the end game in his bid to thunder up the marble staircase and finally wrest back control of a club which he feels has been held hostage for the best part of three years. But so far this rescue mission has been a bit of a slow burner which is why King and his allies will, over the course of the next few days, attempt to light a fire under it. VIEW GALLERY Quite simply, for King and his group, it is now or never because the next time he boards a long haul flight back to Johannesburg he’ll either have control of his club or he’ll be waving it goodbye. It is my understanding that negotiations have moved on over the weekend and that, although King did leave the country, he was holed up within a two-hour flight time of his home city. It was always his intention to return at the start of this week, just as last Tuesday’s meeting at Ibrox had been arranged many days in advance and diaried by Wallace, chairman David Somers and financial director Philip Nash. This is hardly being done on the hoof. Nor, for that matter, have any deadlines been set. The situation is too delicate and complex for intransigence and it has been further complicated by the passing last week of the mother of James and Sandy Easdale. The brothers will attend her funeral today and were not personally involved in any of last week’s talks. King, of course, was in attendance, flanked by another wealthy fan, George Letham, who is part of a group of high net worth Rangers supporters who, as a collective, are committed to matching King’s initial £8m cash injection pound for pound. They could not be any more serious or committed to turning Rangers around and repairing the damage which has been done to it. The thing is, it really shouldn’t be this difficult to give £16m away. VIEW GALLERY Which is why the next few days will determine whether or not this consortium of the well intentioned will be able to get their hands on Rangers and to nurture it back to a state of health or if, indeed, they are wasting their time. The indications from inside the club are that King and his cohorts have been encouraged by the first round of negotiations which shouldn’t come as a great surprise given the scale of the financial crisis this club now faces. To that end, Wallace, Nash and a third director, Norman Crighton, appear to have reached consensus. They know they need money now or their business will go bust, very possibly before the end of next month. King’s group is offering them that cash for free but they have demanded a guarantee of a majority shareholding which would be delivered to them via a new issue of shares, probably before the end of this year. Of course they want control. They are hardly about to hand over their wedge to the very people who have allowed this crisis to develop. If Wallace, Nash and Crighton remain in agreement then this package will receive boardroom support, no matter what Somers or James Easdale may think of it. But the release of new shares will also need to be approved by 75 per cent of the club’s current shareholders. And that’s the tricky bit. The Easdale boys hold proxy votes over a combined 26 per cent including the infamous Blue Pitch Holdings and Margarita Holdings. Together, they can torpedo King and blown his plans out of the water and that’s without the added bulk of Mike Ashley who continues to cast a huge shadow over this entire fiasco. Who would you like to see run Rangers? Dave King Mike Ashley The fans So what is Ashley’s motivation in all of this? Well, the official line is he wants nothing more than to protect the retail deal which was gifted to him by Charles Green. And little wonder. In fact, Ashley has boasted to some of his associates that this hugely generous seven-year contract represents the best single deal of his entire business career. But, given that the more strips he sells the more blue pounds he coins in, surely it stands to reason that Ashley should want Rangers stabilised and its supporters – his customers – placated as quickly as possible? The fact he seems unwilling to even open dialogue with King suggests Ashley has something else in mind for this club. And that in turn makes a mockery of King’s back-of-a-taxi-cab claims to be ‘confident’ of getting his way. It’s difficult to make sense of his bullish remarks when the odds seem so heavily stacked against him. Because if King’s ransom is not accepted by Rangers then it is almost certain that Ashley will be the only possible saviour. By knocking King out, he makes himself the last man standing. And with Rangers just weeks away from falling over another financial cliff edge, Ashley can then name his price for the money which will be needed to haul it back from the brink at the eleventh hour. In other words, by stumping up a life-saving emergency loan of between £10m and £20m he is buying complete control of the club, without having to increase his 8.92 per cent shareholding and running into trouble with the SFA. For that money, Ashley can take from Rangers whatever he wants. Has the Ibrox saga sickened you - are you a fan who is staying away from Rangers matches? YES NO All of which puts the Newcastle owner in a far stronger position than King. The only fly in Ashley’s ointment is the backlash the club might then face from its supporters. While his track record at Newcastle suggests he doesn’t tend to bother himself with such tedious details, Ashley is smart enough to realise that this Rangers support is already dangerously close to a full-scale rebellion. As things stand between 10,000 and 15,000 are already regularly staying away from Ibrox and it is entirely possible that this number could double if King and his pals are seen to be ambushed by Ashley and the Easdale bloc. The consequences of a further disconnect with the customer base would be potentially catastrophic for a business which is already making heavy, unsustainable monthly losses. There were only 33,000 inside Ibrox on Saturday but if attendances dropped to around or below the 20,000 mark, would Ashley be prepared to keep funding the shortfall? No wonder that Wallace is so keen to find a more elegant, long-term solution as he has overseen this calamity without acting to fix it and now there really is no more time for his inactivity. One way or another, the answer to Rangers’ problems will be revealed within days. King and his supporters will hope it’s not another washout. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 20, 2014 Share Posted October 20, 2014 I see Jackson tweeted that there is no Monday deadline, no deadline at all in fact - though he thinks the coming week will be crucial. He did also say that about last week. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 20, 2014 Share Posted October 20, 2014 How would Ashley ever get back his loan money if no one is going to games. 0 Quote Link to post Share on other sites More sharing options...
JTP 0 Posted October 20, 2014 Share Posted October 20, 2014 Once again the fans are the players here however we must make it known that by knocking this loan offer back to opt for a Wonga style Ashley loan then as they saying goes ..... "We're out" No games. No strips. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 20, 2014 Share Posted October 20, 2014 Once again the fans are the players here however we must make it known that by knocking this loan offer back to opt for a Wonga style Ashley loan then as they saying goes ..... "We're out" No games. No strips. That stance was needed a long time before now. Also, can we please desist from perpetuating this idea that King is offering a loan. It is a bid for a majority share, and without that being made available to him, the life-saving will not come from him. 0 Quote Link to post Share on other sites More sharing options...
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