Rangers takeover: Deal agreed in principle

[Whosthedado 1,811]

8 hours ago, Devil's advocaat said:

Dear 49ers,

Please let us keep Cerny.

 

Thanks.

 

DA.

and bring Sima back  

[der Berliner 4,050]

Rangers Journal had a US NBC reporter, Matt Maiocco, on its fancast ...

 

 

[compo 7,678]

I  wish it was all done and signed new owners a new future  hopefuly a team that can get back to wining trophies 

[compo 7,678]

Just been reading of another new lot of shares on offer 

[BEARGER 1,861]

48 minutes ago, compo said:

Just been reading of another new lot of shares on offer 

[BEARGER 1,861]

This from Scottish coefficient.

 

Following the issue of 18 million new shares by Rangers on 23rd January 2025, Rangers have issued paperwork confirming the issuing of a further tranche of shares in February.
The 18 million shares in January were issued at 0.20p per share, meaning the total cost of the shares was £3.6million.
Rangers have authorisation after their last AGM to issue a further 27 million new shares before the next AGM. That's pretty much exactly what has now happened.
The latest share issue on 26th February was for 26,724,800 shares, which were also issued at 0.20p per share. This means the cost of these shares was £5.34m.
This could be the issuing of new shares to a new investor, or perhaps more likely - the conversion of existing debt, by existing shareholders.
If the impending takeover by the investment arm of the San Francisco 49ers goes ahead, there will be a price to pay per share that needs to be agreed. If that price is more than 20p per share, then it makes sense for existing shareholders to convert their debt to shares at the rate of 20p per share. If this was the case, then those current investors would then be selling their shares to the takeover party at a higher rate than they paid.
The extra 26 million shares takes the existing share capital in Rangers to 532 million shares. There were 487 million shares at the start of December, which has increased to 532 million shares following the two share issues.
A 50% buyout of Rangers, even just at 20p per share, would therefore now cost £53 million. At 40p per share, the cost of the takeover jumps to £106millon. That money would all go to the existing shareholders that are selling up. Any further investment in the team or stadium would be completely separate and over and above the buyout figure.

[Bluedell 5,921]

The share issue is likely to be the tidy up of the balance sheet pre-sale, converting existing investor debt to shares. 

 

It'll be done with the knowledge and agreement of the proposed purchasers, and included in the share purchase agreement. 

[BEARGER 1,861]

Seems that the club have taken out a loan which will be paid back by future transfer deals.

[Scott7 6,513]

1 hour ago, BEARGER said:

Seems that the club have taken out a loan which will be paid back by future transfer deals.

What happens if transfer income is insufficient to repay the loans?

[Rousseau 11,462]

RANGERS TAKE OUT UNSPECIFIED BANK LOAN SECURED AGAINST FUTURE TRANSFER FEES

 

Documents lodged to Companies House depict a loan from MacQuarie

bank. The document states future transfer fees (of an undisclosed

nature) will be paid to the lender.

 

MacQuarie have a history of providing loans to football clubs with

Watford and Burnley both examples.

 

It is unclear as to why the club have taken out the loan. Previously,

former Chairman John Bennett suggested that Rangers wouldn't pay the

interest rate offered by banks such as MacQuarie due to the terms

offered by directors, speaking in 2021.

 

https://www.rangersreview.co.uk/features/25000512.rangers-take-bank-loan-future-transfer-fees/