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.

Valiantly fought out a 1-1 draw with the Barcelona of Clackmannan

10 non-playing staff laid off last night announced during Scotland game to hush it up.

Feel for those losing their jobs, but this was done in typical cowardly Hun fashion by the looks of it

Exacly, money saved will be a fraction of the managers salary.

A warrant has been issued for the arrest of former Rangers owner Craig Whyte after he failed to attend a High Court hearing.

The 43-year-old had previously been warned he faced jail following his decision not to appear previously in a case brought against him by Ticketus.

 

The case was due to be heard on Thursday at the High Court in London but Whyte and his legal team failed to attend, leading to Mr Justice Newey issuing the warrant for his arrest.

 

Attempts had been made previously to contact the ex-Rangers chief to no avail, with Mr Justice Arnold issuing a "suspended committal order" back in October warning him against a future non-appearance.

 

The businessman has now failed to appear at hearings related to the case on four occasions.

And he's made a rod for his own back by saying he don't do walking away.

 

Karma. 

Just lost to Hearts, they now have a 9 point lead over the blue meanies 

 

Ian Black conceded a penalty as well, what a joyous sight it is seeing them all so miserable.  Typical Huns, resorted to trying to injure Hearts players once they realised they weren't going to win it.  Lucky to have ended with 10 men, but weak referring let them get away with it.

Just lost to Hearts, they now have a 9 point lead over the blue meanies 

 

Ian Black conceded a penalty as well, what a joyous sight it is seeing them all so miserable.  Typical Huns, resorted to trying to injure Hearts players once they realised they weren't going to win it.  Lucky to have ended with 10 men, but weak referring let them get away with it.

 

They really should have left with 8 men. Miller and Boyd should have been off. It was clear there tactics were to disrupt the game as much as possible from the start. What a strange horrible team they are.

It's shows how much I hate Servco when I'm really happy the Hearts had a win.

They really should have left with 8 men. Miller and Boyd should have been off. It was clear there tactics were to disrupt the game as much as possible from the start. What a strange horrible team they are.

 

 

One of the boys that got binned (McHattie I think?) out for 6 weeks as result.  I think it was Kenny Miller's tackle assault.

 

Really pleased to see Hearts get a deserved victory Sevco get a deserved loss.

 

One of the boys that got binned (McHattie I think?) out for 6 weeks as result.  I think it was Kenny Miller's tackle assault.

 

Really pleased to see Hearts get a deserved victory Sevco get a deserved loss.

 

I'm still amazed how those cunts got away with it.  Hearts have shown those scum bags how it's done, and fair play to them. I really hope to fuck that sevconians miss out in the play-offs. Horrible team, much like their predecessors.

They really looked like Rangers (deceased) team of the 80s on Saturday. They tried to kick Hearts off the field from the start of the game. 

End of january will be an interesting time should they still be trading.

 

Fixture list from Christmas time - February 1st

 

Hibernian (away)

Dumbarton (home)

Alloa (away) (Managed to draw with them twice so far)

Hearts (home)

Cowdenbeath (away)

Celtic (cup)

 

now if only Hibs or Queen of the South can get some consistency going.

 

Seems Mr Whyte has been detained in Mexico 

C'mon Hearts, hibs and Queens.

Trap them in the 'championship' for another season!

Genuinely, I'd struggle to find anything more hilarious. Let them rot, well, quicker than they are.

It took the Dons 100 years to knock up that sort of debt and we were hounded about toasters.  These fuckers have managed it in 6 months!

 

When is enough, finally going to be enough?

 

:popcorn:

Whyte due to appear in court in Glasgow today.

Have a feeling that things are about to get even more interesting.

Anyone else get the feeling that he'll sing like a canary and be happy to take all and sundry down in order to save himself.

Whyte due to appear in court in Glasgow today.

Have a feeling that things are about to get even more interesting.

Anyone else get the feeling that he'll sing like a canary and be happy to take all and sundry down in order to save himself.

 

He's supposedly recorded most of his conversations with other parties. I'm sure these will be used to save his own skin.  Surely only a matter of time until David Murray is wheeled in to answer a few questions too..?

He's supposedly recorded most of his conversations with other parties. I'm sure these will be used to save his own skin.  Surely only a matter of time until David Murray is wheeled in to answer a few questions too..?

 

Love the use of subtle humour there Bobby 

STV say in finance report Rangers Retail were obliged to buy stock at a price greater than the actual retail price the sold at.........

He's supposedly recorded most of his conversations with other parties. I'm sure these will be used to save his own skin.  Surely only a matter of time until David Murray is wheeled in to answer a few questions too..?

 

:thumbsup:

Surely it is only a question of time before the Tribute Act goes the same way as Rangers (deceased) and enter administration.

http://www.bbc.co.uk/sport/0/football/30284514

 

A Rangers supporters' group has urged fans to stop buying club merchandise.

The Union of Fans (UoF) made the call after analysing the Rangers International Football Club plc (RIFC) annual results.

They are critical of the retail deal with Sports Direct, whose owner Mike Ashley holds almost 9% of RIFC shares.

The UoF believe that the agreement compares unfavourably with a previous contract struck with the retailer JJB Sports.

The RIFC results revealed that losses of £8.3m were made in the 12 months to the end of June 2014, and that the auditors Deloitte warned of "material uncertainty which may cast significant doubt over the group's ability to continue as a going concern".

The RIFC directors revealed that funding of £8m will be required, through loans or equity, to ensure that the business continues to trade for the next 12 months, on the assumption that season ticket sales will return to around 38,000, despite around 15,000 fans refusing to renew last summer, and an increase in season ticket prices.

UoF, a coalition of Rangers supporters' groups, sought analysis of the accounts to look at the detail of the agreement between RIFC and Sports Direct, with the two companies having a stake in the joint vehicle Rangers Retail Ltd.

 

Since Ashley increased his stake in RIFC, his long-time associate and former Newcastle United managing director, Derek Llambias, has joined the RIFC board as a non-executive director.

Sports Direct also gave up the naming rights to Ibrox that they purchased for £1 from former Rangers chief executive Charles Green, and consolidated "existing marketing arrangements between the parties and results in a more normalised retail joint venture marketing arrangement in which Sports Direct will continue to have certain advertising rights".

 

The UoF said in a statement: "Since the release of the accounts for RIFC PLC, the focus has been on the almost immediate requirement for more cash simply to pay bills and also the board's wish to raise £8m in equity finance despite recently turning down a valid, fully-funded offer for £16m.

"However, having had the accounts analysed by qualified accountants, we feel it is important to bring Rangers fans' attention to the reality of the retail deal which has been entered into with Mike Ashley's Sports Direct.

"David Somers [the Rangers chairman] stated recently that Rangers 'make quite a lot of money' from the Sports Direct deal, but that is not how the accounts read in our analysis. In fact, despite the loyalty of the Rangers fans seeing £7.6m spent on retail in the year covered by the accounts, the club's share of that spending is £590,000.

 

Union of Fans' statement.

"In light of the information revealed in the accounts we urge fans to stop buying merchandise from club stores, which are now under Mr Ashley's full control or being shut down, and Sports Direct."

 

"That means for every £10 spent by Rangers fans on merchandise, the club receives only around 75p. The accounts also reveal that Rangers Retail has an obligation to purchase stock at a higher price than it is able to be sold at.

"In the second half of the year covered by the accounts, it appears that the portion of profit due to the club is £2,000.

"For comparative purposes, the much maligned JJB agreement, our previous retail deal, made the club a minimum of £4.8m a year over the term of the deal, over eight times the amount we are making from Sports Direct.

"Crucially, it is also not clear whether the club has yet received a penny of the £590,000 it is due or whether it is still retained within Rangers Retail. Indeed, from inception it would appear that the club has only received £100,000 in dividends from the venture with Sports Direct.

"In light of the information revealed in the accounts we urge fans to stop buying merchandise from club stores, which are now under Mr Ashley's full control or being shut down, and Sports Direct."

Rangers declined to comment.