Welcome Guest [Log In] [Register]
Welcome to Kerrydale Street. We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use.

If you decide to register, please be aware that we don't accept email addresses from the likes of GMail, Hotmail, AOL, etc. Sorry, but almost all of the abuse and spam that we get is from free web accounts.

If you're already a member please log in to your account to access all of our features:

Username:   Password:
Closed
The Mother of all Generic Huns threads; £31.1m debt, UEFA fine £20k +damage cost
Topic Started: 26 Oct 2009, 12:18 PM (397,601 Views)
fitzpas 26 Oct 2009, 12:18 PM Post #1
Member Avatar
Retired - Please do not PM with day-to-day modding stuff.
Admin
 http://www.rangers.vitalfootball.co.uk/article.asp?a=516474

Quote:
 
Martin Bain will today be replaced as CEO of Rangers by Scottish Rugby Union chief Gordon McKie.

It appears that the Lloyds Banking Group, who are looking to make further savings across the business, have realised that Bain's exorbitant £650,000 annual salary is not good value for money, something many supporters have thought for a long time.

It appears Walter Smith's quotes about the bank running the club was just the tip of the iceberg in terms of the upcoming changes at the club.

As we reported earlier, several reliable sources seem certain that current shareholder Dave King will launch a take-over bid as early as this week, with rumours of a meeting between the club and an interested party holding talks on Tuesday doing the rounds.

Keep it on Vital Rangers and the Vital Rangers forums for all the latest information.


http://www.heraldscotland.com/news/home-news/revealed-banker-s-ultimatum-to-debt-hit-rangers-1.928574

Quote:
 
Rangers’ banker has threatened to put the football club into administration in a dramatic intervention to tackle its mounting debts.



Lloyds Banking Group issued the ultimatum to the club’s shocked board as the only alternative after it initially rejected a “devastating” business plan based on swingeing cuts.

The Herald can today reveal the extent of the turmoil at Ibrox that has left Rangers under the control of its banker. Lloyds has placed Donald Muir, who helped rescue Northern Rock, on to the board as its representative.

It can also be revealed that Dave King, the Glasgow-born multi-millionaire and former investor in the club, now based in South Africa, is the leading contender to buy Rangers. He has opened negotiations but is having difficulties in striking a deal for the club.

It is believed the price the bank wants for Rangers is £30 million, equal to the club’s total debt.

Sources close to the club told The Herald last night: “The business plan from the bank will only do one thing – strangle the club slowly. A new owner is a must or else Rangers will be in dire straits on and off the pitch.

“The board tried to fight it as much as it could, but was told it would be placed into administration. The effects of the business plan will be devastating.

more > http://www.heraldscotland.com/news/home-news/revealed-banker-s-ultimatum-to-debt-hit-rangers-1.928574

Edited by Dianogah, 12 Nov 2009, 06:44 PM.
Offline Profile Goto Top
 
Big_Bobo_Balde 26 Oct 2009, 12:19 PM Post #2
Member Avatar
The Irish Intruder
Admin
 Gordon McKie will be good for them....
Offline Profile Goto Top
 
blues x man 26 Oct 2009, 12:20 PM Post #3
Member Avatar
Getting on a bit
[ * * * * * * * * * * ]
Finally, all the hot air looks like it might actually count for something. Bring it on.
Offline Profile Goto Top
 
sc0tsman 26 Oct 2009, 12:21 PM Post #4
Member Avatar
Unseen Fenian Hand
[ * * * * * * * * * * * * ]
 Check the last paragraph, they are gubbed :lol:

"They could end up in administration,"

Quote:
 

As warned by Hugh Adam, Jan 11, 2004

Like Adam, Glass does not believe Rangers could find a new owner in their current condition. "For Murray to pull out, somebody would have to buy his shares," he said. "Also, the bank would be looking for the new owner or owners to underwrite the debt."
Offline Profile Goto Top
 
ryn 26 Oct 2009, 12:22 PM Post #5
Member Avatar
I made you a mix tape
[ * * * * * * * * ]
 This could become the greatest thread of all time.
Offline Profile Goto Top
 
welcome2paradise 26 Oct 2009, 12:23 PM Post #6
Member Avatar
So hot it's smokin
[ * * * * * * * * ]
 The HMS Rangers has struck the iceberg.
Offline Profile Goto Top
 
Life of Excess 26 Oct 2009, 12:23 PM Post #7
Member Avatar
...the green wire...
[ * * * * * * * * * * * * ]
 Carlsberg, it seems, have indeed started doing Mondays... :clap:
Edited by Life of Excess, 26 Oct 2009, 12:24 PM.
Offline Profile Goto Top
 
blues x man 26 Oct 2009, 12:24 PM Post #8
Member Avatar
Getting on a bit
[ * * * * * * * * * * ]
 Does anyone else think Murray may well blow his brains out over this, thus leaving a blood-splattered print of the Rangers crest dripping from the walls?
Edited by blues x man, 26 Oct 2009, 12:24 PM.
Offline Profile Goto Top
 
Timdom come 26 Oct 2009, 12:24 PM Post #9
Member Avatar
Off treasure hunting in Holland
[ * * * * * * * * * * * * ]
 As long as as no one tells our board this could become amusing.
Offline Profile Goto Top
 
FoxyStoatyWeasely 26 Oct 2009, 12:25 PM Post #10
Member Avatar
ferrets a grand old tim
[ * * * * * * * * * ]
Quote:
 
Sources close to the club...



This is a euphemism for "Journalists have deduced from reading KDS..."
Offline Profile Goto Top
 
Life of Excess 26 Oct 2009, 12:26 PM Post #11
Member Avatar
...the green wire...
[ * * * * * * * * * * * * ]
blues x man
26 Oct 2009, 12:24 PM
Does anyone else think Murray may well blow his brains out over this, thus leaving a blood-splattered print of the Rangers crest dripping from the walls?
Too easy - i'm hoping for something a bit more protracted. And embarassing.....
Offline Profile Goto Top
 
antbhoy 26 Oct 2009, 12:26 PM Post #12
Member Avatar
Marshal of the Soviet Union
[ * * * * * * ]
 Crying my eyes out here for the poor souls.

:chuffed: :chuffed: :chuffed: :Bye: :Bye: :Bye: :clap: :clap:


So is this King character putting a bid in or is the South African government going to be able to stop any bids?
Offline Profile Goto Top
 
Hinkel's Beard 26 Oct 2009, 12:27 PM Post #13
Member Avatar
WOOFT; a young Archie Macpherson.
[ * * * * * ]
 ooft.

made my week.
Offline Profile Goto Top
 
tinsoldier 26 Oct 2009, 12:27 PM Post #14
Member Avatar
Off treasure hunting in Holland
[ * * * * * * * * * * * * ]
 The Woolies of football :lol:

http://www.thescottishsun.co.uk/scotsol/homepage/news/2699275/Finance-expert-warns-troubled-Rangers-are-a-wasting-asset.html
Offline Profile Goto Top
 
Jaemi 26 Oct 2009, 12:28 PM Post #15
Member Avatar
Club Captain
[ * * * * * * * * * ]
 The four horsemen of the Hunpocalypse.
Posted Image
Posted Image
Posted Image
Posted Image
Offline Profile Goto Top
 
Bobby Peru 26 Oct 2009, 12:29 PM Post #16
Member Avatar
The Maestro
Admin
 Would it be possible for Dermot Desmond to buy them, pay their debt and then we could use them as a feeder club in the 2nd division to give the likes of Misun, Thompson, Feruz etc some valuable experience?
Offline Profile Goto Top
 
localbhoyinthephotograph 26 Oct 2009, 12:29 PM Post #17
Member Avatar
★ dancingcowcsc ★
[ * * * * * * * * * * ]
Bobby Peru
26 Oct 2009, 12:29 PM
Would it be possible for Dermot Desmond to buy them, pay their debt and then we could use them as a feeder club in the 2nd division to give the likes of Misun, Thompson, Feruz etc some valuable experience?
:hmmm:
:lol: :thumbsup:
Offline Profile Goto Top
 
Dbhoy67 26 Oct 2009, 12:29 PM Post #18
Member Avatar
So Fred said "let's have another cup of tea" And we said "Right-o"
[ * * * * * * * * ]
 Has there been any cracked crests in the papers yet

or do they only appear when something really big happens , like our tea lady resigns
Edited by Dbhoy67, 26 Oct 2009, 12:32 PM.
Offline Profile Goto Top
 
Marzepans 26 Oct 2009, 12:29 PM Post #19
Member Avatar
First-team captain
[ * * * * * * * * ]
 The poor huns. Feel their pain :rocker:
Offline Profile Goto Top
 
Tony_bhoy7 26 Oct 2009, 12:31 PM Post #20
Member Avatar
Pessimism is a Hun
[ * * * * * * * * * ]
 As I do most mornings, I went to check on the BBc's gossip column, this morning's was the best one ever:

Lloyds Banking Group has threatened to put Rangers into administration after initially rejecting a business plan designed to slash the clubs debt. (The Herald)

Lloyds has placed Donald Muir, who helped rescue Northern Rock, on to Rangers' board and is effectively running the football club. (The Herald)

Dave King, the Glasgow-born South Africa-based multi-millionaire, is the leading contender to buy Rangers but is having difficulty concluding a deal as Lloyds wants £30m, equal to the club's total debt. (The Herald)

Rangers sources have emphatically denied that a takeover by Dave King is imminent. (Daily Telegraph)

Rangers' entire first-team squad will be systematically sold and the coaching staff dismantled if senior management does not win its battle with Lloyds. (The Herald)

Rangers manager Walter Smith says making all his players available for sale in January is having a detrimental affect on the motivation of his side. (Daily Record)

Celtic captain Stephen McManus says showdown talks with manager Tony Mowbray, who had earlier said that all his players were battling to save their careers with the club, helped send the team back to the Scottish Premier League. (Various)

:clap:

http://news.bbc.co.uk/sport2/hi/football/gossip_and_transfers/8325383.stm
Offline Profile Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Celtic Football Club Discussion Forum · Next Topic »
Closed