http://scotlandonsunday.scotsman.com/football/Sale-of-Rangers-FC-39will.6650410.jp

 

Quote

Sale of Rangers FC 'will go ahead by mid-January'

 

Published Date: 05 December 2010

By Tom English

 

A DEAL to sell Rangers Football Club to Scots venture capitalist Craig Whyte will go though by the middle of January, according to senior sources at the club.

Whyte, 39, met with Ibrox chairman Alastair Johnston in Glasgow to discuss the purchase of Sir David Murray's shareholding in the club.

 

The proposed £33 million deal will wipe out the existing debt that has stymied Rangers in the transfer market for two years.

 

Yesterday, sources at Rangers said the deal, barring any late hitches, could be completed before Christmas but it is more likely that it will be done by the middle of January. "We can't say with 100 per cent certainty, but Whyte has the money and is very convincing. We think the deal will happen," said the source.

 

Murray has presided over Rangers for 22 years but has been keen to sell his stake for some time.

 

Hopefully the debt thing is not true as that is what is holding them back at the moment.

Oh ma sides!!!

 

http://www.bbc.co.uk/sport/0/football/28713408

 

Former Rangers chief executive Charles Green has told BBC Sport he is close to raising up to £10m to invest in the Scottish Championship club.

Green left the Ibrox club last year following allegations about business dealings with former owner Craig Whyte.

Now Green claims he has investors ready to stabilise the club financially.

 

Getting shite now.

 

Think Phil Redmond is now writing the script

Lost 2-1 to Hearts. Suspect Fat Sally will be gone before long.

Suspect Fat Sally will be gone before long.

 

I'd be amazed if he lasted the season there.

My worry is that as soon as he is gone, the usual media c**ts will start mentioning McInnes for the vacant post.

Ex-player doing well, he's a shoe-in to be mentioned, which whether he was interested or not would potentially be de-stabilising to us for a bit.

 

with any luck, their next managerial assignment will be worse than David Hockaday for Leeds.

They would need to give him £1m pay off if they were to sack him.  They don't have that money. 

 

They're both stuck with each other. A deserving marriage, the cheating cunts.

McCall will get the job ahead of McInnes.

I see Barry the crab rolled over for his dead former team! 

I see Barry the crab rolled over for his dead former team! 

 

Sally: Hi Bazza, ony chance o letting Big Boydy get among the goals tonight. His confidence is suffering a little

 

Fergushun: Aye nae bother Coisty, will three do him 

 

You could have scripted it

HM Revenue and Customs (HMRC) has been granted permission to appeal against a tax ruling over Rangers Football Club's use of employee benefit trusts (EBTs).

 

In July, an upper-tier tax tribunal (UTT) largely upheld a first-tier tribunal (FTT) decision that EBT payments made to players and other employees should not be taxable.

 

Rangers former owners, the Murray Group, argued the payments were loans.

 

HMRC's latest appeal will be heard at the Court of Session in Edinburgh.

"Loans". Dirty, cheating, lying, smelly, minky pricks. 

Rangers bosses have admitted they will be unable to pay the club’s creditors if a planned share offering fails.

 

The club has announced plans to sell off 19.8 million shares in the hopes of securing around £3.97m.

 

But it cautioned there was no guarantee shares would be bought up by existing investors.

 

The club has now warned that its future may be "uncertain" if less than 15 million shares are sold.

 

In a statement to the London Stock Exchange, the club said: “The company will require additional external funding in the latter half of the current financial year in order to meet working capital requirements.

 

“There can be no certainty as to the aggregate level of subscription for new ordinary shares.

 

“If the aggregate level of subscription is less than 15 million new ordinary shares the open offer will not proceed and subscription monies will be returned to applicants.

 

“Should this occur, the company will be unable to pay its creditors as they fall due and the future of the company will be uncertain.

 

“The directors will immediately have to seek emergency financing which may or may not be available.”

 

In their April business review, Rangers said they would look to exercise their right to issue shares if sales of season tickets were "materially less than anticipated".

 

Sales of season tickets sat at just over 20,000 earlier this month, up marginally from the 17,000 renewed by existing ticket holders prior to a public sale.

 

Rangers previously sold 38,000 season tickets for the 2013/14 season. The gap in sales has prompted the decision to press ahead with the issue of shares, which are available only to existing shareholders.

 

When asked about the issue, Rangers boss Ally McCoist said he only wished to discuss football matters.

 

 

 

 

Third time lucky?

 

Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have £620,000 of club assets frozen.

 

Lawyers acting for Mr Ahmad claim he is owed a £500,000 bonus for the time he spent working at the Ibrox club.

 

The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent.

 

Lord Stewart continued the case to Friday when lawyers for Rangers will address the court.

 

Mr Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed £500,000 for negotiating deals and wants another £120,000 to cover legal expenses.

 

Advocate Kenny McBrearty QC told Lord Stewart that Mr Ahmad is concerned about the current state of the club's finances and fears Rangers would not be in a position to pay up if the court eventually rules in his favour.

 

He told the court Rangers have sold 23,000 season tickets this season, down 15,000 on last season.

 

Mr McBrearty said the Rangers board's latest plans for a share issue may only raise £3.6m and cover part of the club's obligations.

 

He added: "There is a significant hole in the club's finances for the forthcoming season."

 

Rangers sold the naming rights for Ibrox Stadium to Newcastle and Sports Direct owner Mike Ashley for £1 two years ago, it has been revealed.

The contract was struck with ex-Rangers chief executive Charles Green as part of a commercial deal that left Ashley in control of the retail department.

Ashley has a stake of around 5% in the Ibrox club and is understood to be looking to increase his shareholding.

In 2011 he changed the name of Newcastle's ground, St James' Park.

Ashley claimed renaming the stadium the Sports Direct Arena would "showcase" the branding potential of the club, but he changed the name back following a fans' backlash.

BBC Scotland understands that, despite owning the naming rights to Rangers' home ground, Ashley does not intend to effect a name change in the immediate future.

Good to know another potential source of income has now been blocked for fuck all 

Why would they sell the naming rights for a quid?

And if it's only a quid, how bad does Ashley feel about the poisonous former huns that he HASN'T invoked it? 

Nice one Imran........

 

Tick tock 

Nice one Imran........

 

Tick tock 

 

Rumour doing the rounds that him getting £600k frozen means they will not be able to pay wages.

Rumour doing the rounds that him getting £600k frozen means they will not be able to pay wages.

 

Please let it be true.

Think they might have been granted the right to appeal as soon as next Tuesday

Yep

 

Tuesday morning to see if armageddon part 2 kicks off

Rangers edged closer to financial collapse after former director Imran Ahmad succeeded in his bid to have £620,000 frozen in the club's bank account. (Daily Mail) (external)

 

I'm off to get the jelly and ice cream

Rangers have vowed to appeal the verdict and will return to the court on Tuesday after a claim the club’s finances were the ‘envy of many English Premiership sides’ was rejected.

 

 

I see they got leave to appeal this.

Judge has encouraged them to come to a deal with the guy which I would like to think means the appeal is pretty unlikely to succeed.

 

Apparently they have been spending lots of cash on some Malaysian businessman trying to convince him to buy the club by showing him the best Glasgow (and Renfrewshire has to offer).

http://www.bbc.co.uk/sport/0/football/29164336

 

Rangers fans' group Sons of Struth will ballot its 1,500 members in the next 24 hours on boycotting home matches in protest at how the club is being run.

The group's co-founder Craig Houston told BBC Scotland fans are concerned about recent developments at Ibrox.

He says they are angry that club director Sandy Easdale met businessman Rafat Rizvi, who is wanted by Interpol for finance crimes.

And the naming rights for Ibrox being sold for £1 has caused further dismay.

"We'll be putting it to our members and asking them to decide if they wish us to do something," said Houston.

"We might not do any [boycott], we might do one game or we might go for the whole season, but our club should not be in this position.

"We put out leaflets at a game over a year ago suggesting that Rafat Rizvi was involved in investing in the club back then.

"We've been asking as fans for over a year now to tell us who these faceless investors who are running our club are.

"We don't get any answers and because this man pops up again - miraculously, coincidentally - that has raised a few eyebrows within the Rangers support.

"And we seem to have sold our naming rights to our stadium for £1; the fact that it's been sold is one aspect, but the worst aspect is the £1."

Sons of Struth's move follows Wednesday's opposition by supporters' group Union of Fans to Rizvi's involvement with the Championship club.

Rangers deny that Malaysian Datuk Faizoull Bin Ahmad is considering investing. He visited Ibrox Stadium and the club's Murray Park training ground and had lunch with Easdale and Rizvi.

Houston also indicated that fans could consider a boycott of Sports Direct, the sportswear retailer owned by Rangers shareholder Mike Ashley.

He said the key thing the fans want is transparency, something "we've been asking for the 12 months of our existence".

Asked if he was concerned that a boycott could threaten Rangers' future, Houston said: "This board, who have been placed by the same people that have placed every board member in Ibrox since Charles Green's time, have got the blood on their hands should Rangers go into administration, not the fans.

"The fans have given these people 100,000 season tickets over three years, they gave them £22m in IPO, they've bought shirts and merchandise.

"We were filling stadiums in the bottom tier of Scottish football.

"So for anybody to suggest that Rangers fans, if they take an action of boycotting, are in any way to drive that final nail in the coffin, I would suggest they are looking in the wrong place."

BBC Scotland asked Rangers to comment on the boycott threat, but has yet to receive a reply.

 

I wonder if those 1500 are season ticket holders? If so a boycott pretty much achieves next to fuck all.

If they aren't then boycotting one game will achieve next to fuck all.

Boycotting for the rest of the season on the other hand..... probably fuck all but would make it a bit more interesting  (Average home attendance so far this season apparently just over 27000)