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.

The huns have secured a £3Million loan from Close Brothers. Sevco directors have had enough of shelling out millions to keep The Rangers going.

 

Close brothers rates of interest are usually very high. Also means no mainstream bank would touch them.

They offer essentially invoice finance and factoring, I'm sure. So I assumed a similar agreement to the Ticketus thing...

 

"Here's £3 million now we'll take the first £3.XX million of the season ticket money in July."

 

I suppose the the the sevco fans will find out come renewal time...

Graeme Murty: "The fans have been through a great deal at this football club recently

 

Not half as much as the fans from the other clubs have had to deal with regarding the Scottish Football Media obsession regarding these scum.

Sevco reject forth Alfredo Morelos bid from Beijing Renhe worth around £9million as two South American sides enter the race

 

What a load of shit being banded around regarding Alfredo Morelos.

First they unsettle the player with this crap then report clubs are queuing up to spend millions for him which sevco do not need as they are under no pressure financially to sell him.

Everyone knows sevco are in last chance saloon and they are trying to auction Morelos to the highest bidder to raise much needed cash.

 

 

 

Notice now that Sevco are in second place on goal difference the Scottish media are now saying that a title race is now on between the Ugly sisters.

 

On another note the DR is reporting that Chinese have not come in with another big money offer for Alfredo Morelos

The Rangers directors enjoy salary hike despite club posting rising losses.The overall pay packages of the of The Rangers’ two executive directors has risen by more than £60,000 in total on the year before, while the club made a net loss of £6.7 million last season.

 

They have to recoup their loans given to the club from somewhere.

In addition, to Edminston house and the albion car park, Close Brothers now have a charge over the stadium PA system, the large stadium screens, stadium catering equipment and stadium wifi equipment.

The total security pledged against the 3m loan now stands at slightly over 5.5m in assets. Sevco are paying 4% more than Close's standard onerous loan terms.

 

King's statement on how much money they have seems to be slightly in doubt. 

 

 

King's statement on how much money they have seems to be slightly in doubt. 

 

Far are ye getting yer quotes?

Far are ye getting yer quotes?

 

Phil MacGhiollabhain and JohnJames websites

 

Far are ye getting yer quotes?

 

Something to read over your cornflakes

https://beta.companieshouse.gov.uk/company/SC425159/charges/mLBWBxLf49wYxVpcq5n1pX_hCbE

Something to read over your cornflakes

https://beta.companieshouse.gov.uk/company/SC425159/charges/mLBWBxLf49wYxVpcq5n1pX_hCbE

 

Very interesting, cheers. You can see, over the years, the splatterings of their shady deals going through where everything was bought on credit and leased back to the them. It's safe to assume that was the other way in which the spivs took them to the cleaners on their way back by purchasing each individual asset and leasing it back to the club. Safe to say that what they are doing now is trading insolvently.

Huns borrowing money from someone called Benedict O’Mahoney 

Huns borrowing money from someone called Benedict O’Mahoney 

 

I saw that name as a witness to one of the documents and thought exactly the same as you Slim

 

Fucking classic

I gave up keeping a close watch ages ago

 

( I know I know, they rely on that)

 

What I want to know is, why, when the openly pretend to be the same entity as the old club, does the taxman not come after them for the old clubs debts?

 

I know the real answer to the question is "because we're in Scotland" but that's not an acceptable answer really.

I know the real answer to the question is "because we're in Scotland" but that's not an acceptable answer really.

 

Nope, it's because we're in the UK. This is bigger than just Rangers not paying their taxes. Pheonix companies are useful to donors who wish them to remain available. Rangers are just fucking it up for everyone else by making such a public shambles of their corruption, which should really stay behind doors.

 

What I want to know is, why, when the openly pretend to be the same entity as the old club, does the taxman not come after them for the old clubs debts?

 

Quite simply because the taxman knows it isn't the same entity so doing so would be futile. The "same club" myth has been fomented by a corrupt SFA/SPFL and aided by a compliant media. This should have been challenged at the time Charles Green suddenly declared sevco to be the same club as the one which was liquidated a few months previous, and which played its first league game in Division 3 (live on TV ffs) as "The Rangers". Why they were subsequently allowed to drop the "The" is up for debate but the ruling bodies must have okayed it and the sevconian hordes then rewrote history, claiming at every turn that oldco went into administration (they NEVER mention the L word) and claim to have been "demoted" when in fact they were admitted into Division 3 ahead of other clubs with a full history and better claims......those newco c@nts should have started in the West juniors bottom division.

After a couple of seasons of just playing friendlies against local pubs, to make sure that they could regularly fied a full team.

King loses his appeal over the courts ruling he had to make Sevco shareholders an offer for their shares, which would cost him 11m. 

Thank god he's a fit and proper person though, otherwise the huns could have been in the shite.

King has said before he has no money to buy these shares.

 

All his funds are in his wife's name only.

 

He can always get a £11 million pound loan to buy said shares.

King supposedly sanctioned 1m for Murphy to quicken the admin event to avoid this whole scenario but the other board members blocked it.

 

What will he do now the transfer window is shut?

I'd guess he will fuck off back to South Africa sharpish, never to return. Sevco will be left to the mercy of the remaining board members, none of whom seem willing to commit serious cash to refloat a sinking ship. Probably another share issue will be offered in the summer......it's success or failure will either see sevco stumble on mounting up ever increasing debts for 2-3 more years or lead to admin before the start of next season.

I'd guess he will fuck off back to South Africa sharpish, never to return. Sevco will be left to the mercy of the remaining board members, none of whom seem willing to commit serious cash to refloat a sinking ship. Probably another share issue will be offered in the summer......it's success or failure will either see sevco stumble on mounting up ever increasing debts for 2-3 more years or lead to admin before the start of next season.

 

no doubt. But, considering the palaver the last time, why the fuck have the SFA/SPFL not stepped in long before now?  Not having audited accounts, within which they've not once broken even, common knowledge they're taking soft loan upon soft loan while giving the likes of Bruno Alves (and more) a ridiculous wage, not to mention Ibronx is in huge need of repair, estimated at 20m. 

 

Hope they die (again), but for the authorities to not have stepped in on this is ridiculous as no doubt more SPFL clubs will be left out of pocket as the huns go bust again.

SFA/SPFL will never act as they are complicit in the whole resurrection from the dead myth that all sevconians peddle.....once sevco go bust there is a chance the truth might emerge as to what role the ruling bodies played in offfering every assistance to the newco including trying to shoehorn the new entity into the Championship ( Division 1 as it was known as then) and rejecting the claims of clubs in both the Highland and East of Scotland leagues to join the senior league system in favour of a brand new entity.

 

Only once these skeletons are released from the Hampden cupboard will we see a single body formed out of the ashes of those 2 corrupt self serving institutions. One hopefully that acts in the best interests of all the clubs rather than the 2 largest clubs based in Glasgow.

Alastair Johnston still not passed by SFA as 'fit and proper' after nine months back at Ibrox

He is still to be approved by the governing body due to an ongoing probe into the UEFA licensing process from 2011. Johnston was the Ibrox side's chairman in 2011 when Rangers applied for participation in UEFA competitions and questions have been asked about what the club knew about their tax obligations when they applied for their licence for European football that season.

 

If any proof is needed that the SFA are in total denial about the part they played in the cover up this is it.

 

Even now they are running scared of Sevco.