Mike Ashley's Rangers swoop overshadows Craig Whyte dawn raids...

[Ser Barristan Selmy 222]

Every Director is up for election.

 

Such is the construction of the joint venture deal that Ashley/SD will make money irrespective of how successful we are on the park.

 

One thing we've learnt is that RIFC plc doesn't not have to be a successful business in order for in control to suck money out.

You must be getting bored of telling people this! One day the penny will drop. Or no, it probably won't.

[williamite1 0]

Every Director is up for election.

 

Such is the construction of the joint venture deal that Ashley/SD will make money irrespective of how successful we are on the park.

 

One thing we've learnt is that RIFC plc doesn't not have to be a successful business in order for in control to suck money out.

I get that, but how the f@ck do we stop it , because I really don't know? We've even got supporters ripping us off!

[Ser Barristan Selmy 222]

I get that, but how the f@ck do we stop it , because I really don't know? We've even got supporters ripping us off!

You ask how to stop it yet you consider Ashley to be the messiah?

 

I should stop replying to you because you're only getting the reaction you crave.

 

 

PS - One thing you might want to consider is a rule of thumb where whoever is in control of us will be causing us crippling misery.

[williamite1 0]

You ask how to stop it yet you consider Ashley to be the messiah?

 

I should stop replying to you because you're only getting the reaction you crave.

 

 

PS - One thing you might want to consider is a rule of thumb where whoever is in control of us will be causing us crippling misery.

 

I don't, but I don't see any alternatives. The current board and investors are only letting MA in and no one else, that is clear. Unless an alternative investor comes up with enough readies that they would be happy with and do one, the door is closed. We need cash now and as it stands only MA's cash is being accepted. There is not much we can realistically do about that, or is there, without puting the club in peril of admin 2?

[Ser Barristan Selmy 222]

I don't, but I don't see any alternatives. The current board and investors are only letting MA in and no one else, that is clear. Unless an alternative investor comes up with enough readies that they would be happy with and do one, the door is closed. We need cash now and as it stands only MA's cash is being accepted. There is not much we can realistically do about that, or is there, without puting the club in peril of admin 2?

The lack of a plausible alternative does not mean you embrace impending doom.

 

Though of course there was a plausible alternative, one to the tune of £16m but there was never any chance of that being accepted.

[trublusince1982 243]

Northern Ireland store now closed.Think the airport one is going also.

 

Take it the merchandise deal works......

 

SD have full say on all matters with any dispute settled by sd taking full control for half last years profit(£1.8m). All stock levels , quality control and pricing is decided by them

 

We pay for surplus stock, so SD can order the manufacture in bulk to lower selling price to suit SD stores low pricing. with us paying for the extra stock out of our cut of profit.

 

profit is split on 51/49% after costs are deducted and held in accounts till end of retail season when all surplus stock is accounted for and charged from our half of profit at a rate higher than retail value? Remainder is then paid to us? Basically on paper we get the majority share but in reality they get the larger monetary number? So for £7.6 m turnover they get around £2.2 m we get around £1.4 m profit with payment during next season? Taking it the £411,000 comes from our profit margin and is not already deducted from turnover since we pay it? could be wrong. 52% costs do seem huge in clothing?

 

so to match the £3 m return we used to get. turnover will need to be around what £16 m+ at that level of cost (52%) plus £411,000 surplus on every £7.6 m??

 

this is my rough guess not actual so don't go mental! done the math in my head so take it with a pinch of salt!!

[forlanssister 3,114]

Northern Ireland store now closed.Think the airport one is going also.

 

Take it the merchandise deal works......

 

SD have full say on all matters with any dispute settled by sd taking full control for half last years profit(£1.8m). All stock levels , quality control and pricing is decided by them

 

We pay for surplus stock, so SD can order the manufacture in bulk to lower selling price to suit SD stores low pricing. with us paying for the extra stock out of our cut of profit.

 

profit is split on 51/49% after costs are deducted and held in accounts till end of retail season when all surplus stock is accounted for and charged from our half of profit at a rate higher than retail value? Remainder is then paid to us? Basically on paper we get the majority share but in reality they get the larger monetary number? So for £7.6 m turnover they get around £2.2 m we get around £1.4 m profit with payment during next season? Taking it the £411,000 comes from our profit margin and is not already deducted from turnover since we pay it? could be wrong. 52% costs do seem huge in clothing?

 

so to match the £3 m return we used to get. turnover will need to be around what £16 m+ at that level of cost (52%) plus £411,000 surplus on every £7.6 m??

 

this is my rough guess not actual so don't go mental! done the math in my head so take it with a pinch of salt!!

 

Thank Chuckles and Cockbridge for that.

[williamite1 0]

The lack of a plausible alternative does not mean you embrace impending doom.

 

Though of course there was a plausible alternative, one to the tune of £16m but there was never any chance of that being accepted.

Well, exactly. I assume it's because they are not buying up the shares from the current investors. It appears that unless you are MA, you have to buy them out at the price they want, so unless you have a shitload of cash to burn, it isn't going to happen. MA has a stranglehold as they have all thrown their hat in with him. I really don't know how this can be changed unless someone buys them out.