RANGERRAB 3,397 Posted November 11, 2016 Share Posted November 11, 2016 Don't know, but not sure it's overly relevant. If you buy a house, the cash from the mortgage company doesn't go into your bank account, for example. No but it has to be proven the money came from a legitimate source. In this case the money to cover he bank debt was supposed to come from Wavetower but apparently didn't Which brings us to our chums LBG at which point I'll exit this conversation as my views on them are well known 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 11, 2016 Share Posted November 11, 2016 Ah, I see the problem is the sale of £1. If the actual sale was the millions then it seems he would have had more trouble. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,397 Posted November 11, 2016 Share Posted November 11, 2016 Ah, I see the problem is the sale of £1. If the actual sale was the millions then it seems he would have had more trouble. Howcome? Can u explain? 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted November 11, 2016 Share Posted November 11, 2016 He needed to own the club before he could use it as security for a loan to Ticketus - if the club had cost 18 million say as debt free, then he'd have to raise that to buy it, and then borrow from ticketus afterwards. As it cost a pound it was easy. 0 Quote Link to post Share on other sites More sharing options...
compo 6,506 Posted November 11, 2016 Share Posted November 11, 2016 Probably walk away from all charges , don't want to see that but the law can be strange at times . 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted November 11, 2016 Share Posted November 11, 2016 He needed to own the club before he could use it as security for a loan to Ticketus - if the club had cost 18 million say as debt free, then he'd have to raise that to buy it, and then borrow from ticketus afterwards. As it cost a pound it was easy. But there were other costs, stadium repairs, etc, involved in the contract between the seller and buyer. Proof of funding was required . It was not just a matter of handing over a quid mate. Murray also had ample opportunity to claim breach of contract and take the club back off Whyte. The fact he didn't says all we need to know about Murray. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,397 Posted November 11, 2016 Share Posted November 11, 2016 He needed to own the club before he could use it as security for a loan to Ticketus - if the club had cost 18 million say as debt free, then he'd have to raise that to buy it, and then borrow from ticketus afterwards. As it cost a pound it was easy. Thought the ST's were security ? 0 Quote Link to post Share on other sites More sharing options...
Scott7 5,553 Posted November 11, 2016 Share Posted November 11, 2016 So did Ticketus. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,397 Posted November 11, 2016 Share Posted November 11, 2016 So did Ticketus. Until Lord Hodge(?) decided otherwise In all honesty the whole ticketus thing is a mystery. I remember at the time listening to Darrell King on SSB stating that he couldn't understand why anyone would put any money into a club facing financial ruination over a £76m EBT bill which ticketus must have known about 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted November 12, 2016 Share Posted November 12, 2016 Until Lord Hodge(?) decided otherwise In all honesty the whole ticketus thing is a mystery. I remember at the time listening to Darrell King on SSB stating that he couldn't understand why anyone would put any money into a club facing financial ruination over a £76m EBT bill which ticketus must have known about Ticketus thought the deal meant they owned the seats. In England they would have. 0 Quote Link to post Share on other sites More sharing options...
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