Stevie - 4lads Blog 922 Posted February 28, 2019 Share Posted February 28, 2019 (edited) Important to clarify what has happened today As we know Rangers used this facility to cover any shortfall last season, well they have taken the opportunity to renew that option so that the money is there this time should they need it. Most likely to be around same amount as last year (£3m) Saves the money coming from King or directors, allows us to continue to redevelop the stadium or whatever and shows we are strong enough financially to pay it back come the summer Edited February 28, 2019 by Stevie - 4lads Blog 1 Quote Link to post Share on other sites More sharing options...
buster. 5,198 Posted February 28, 2019 Share Posted February 28, 2019 Just as well we got into the European group stages. On this theme, one of the most important things for SG&Co to get right is to have the team up and running for the European qualifiers in the summer and hope for a degree of luck come the draw. 0 Quote Link to post Share on other sites More sharing options...
Walterbear 557 Posted February 28, 2019 Share Posted February 28, 2019 I would take that largely as a positive. 0 Quote Link to post Share on other sites More sharing options...
buster. 5,198 Posted February 28, 2019 Share Posted February 28, 2019 15 minutes ago, Walterbear said: I would take that largely as a positive. That's stretching it a bit. Having to secure assets against a Close Brothers Facility isn't a positive IMO, at least in an ideal world. It's about where we are on the road back,...the positive is that we are on that road and moving forward. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,627 Posted February 28, 2019 Share Posted February 28, 2019 It does demonstrate that despite the relatively good financial results announced this week and the good European run, we aren't awash with cash and every pound is still a prisoner. 1 Quote Link to post Share on other sites More sharing options...
917 191 Posted February 28, 2019 Share Posted February 28, 2019 Nothing wrong with having an overdraft. The worry would be if we don’t pay it back this year. Close brothers seem to be raising their profile, I seem to remember seeing them sponsoring a team in England.. 1 Quote Link to post Share on other sites More sharing options...
Gaffer 1,665 Posted February 28, 2019 Share Posted February 28, 2019 I suppose it's symptomatic of our recent history that we feel the need to explain something like this. In any other business this would just be normal and far from newsworthy. The directors should be using credit lines like this, rather than funding end of season cash flow challenges from their own investments. That would be crazy. As 917 said, we should always be vigilant to how it's used because that can be an indicator, but if it's agreed or extended it's just smart business. 1 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted February 28, 2019 Share Posted February 28, 2019 A necessary evil and probably will be so for a few seasons yet. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted February 28, 2019 Share Posted February 28, 2019 7 hours ago, 917 said: Nothing wrong with having an overdraft. The worry would be if we don’t pay it back this year. Close brothers seem to be raising their profile, I seem to remember seeing them sponsoring a team in England.. It not an overdraft, it’s a credit facility. Though it acts in a similar fashion. 0 Quote Link to post Share on other sites More sharing options...
Walterbear 557 Posted March 1, 2019 Share Posted March 1, 2019 Timing is interesting given April court case with SD. 0 Quote Link to post Share on other sites More sharing options...
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