Numbers Posted July 29, 2009 Share Posted July 29, 2009 Was it not in the press some weeks ago that both would be cutting back on players to help cut there excessive debt and which club recently issued a very large share issue to help reduce the debt. Vt. They may have assets, but do those assets cover there entire debt.??? Maybe i should have worded it differently, Do the old firm have sufficient assets to cover there individual debt. 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted July 29, 2009 Share Posted July 29, 2009 Figures given to The Trust by Mr. McGruther. The trust also said on Livilions that the clubs problems were NOT as a result of extravagant living by Massone!! They were told this during their meeting with McGruther. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted July 29, 2009 Share Posted July 29, 2009 It didn't bloody help though, did it? 0 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted July 29, 2009 Share Posted July 29, 2009 (edited) Was it not in the press some weeks ago that both would be cutting back on players to help cut there excessive debt and which club recently issued a very large share issue to help reduce the debt.Vt. They may have assets, but do those assets cover there entire debt.??? Maybe i should have worded it differently, Do the old firm have sufficient assets to cover there individual debt. Celtic certainly do, as theit debt is minimal. Rangers/Murray cleared a lot of the debt in a share issue to bring it down to between 20/30 mill, not sure exactly. Not good but nothing like you say. The value of Ibrox and Murray Park exceeds this amount several times over. Edited July 29, 2009 by Sergeant Wilson 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted July 29, 2009 Share Posted July 29, 2009 For the record, I can just about certainly tell you that even if we're not saved tommorow, this will not happen again. The group heading with Mr. McGruther to Hampden, will make sure that a fit and proper persons test is at the top of their agenda after saving the club. Away and don't talk so fcuking daft. What would the criteria be? Are you confident those lining up to be involved in running Livi would pass it? Should the rules be bent just for Livi? 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted July 29, 2009 Share Posted July 29, 2009 (edited) Was it not in the press some weeks ago that both would be cutting back on players to help cut there excessive debt and which club recently issued a very large share issue to help reduce the debt.Vt. They may have assets, but do those assets cover there entire debt.??? Maybe i should have worded it differently, Do the old firm have sufficient assets to cover there individual debt. Rangers last share issue reduced debt from £70 million to somewhere in the region of £20million... officially at least. I don't have the balance sheet to look at their asset/debt relationship, but regardless, they have large enough turnover to be viable in any case. Livingston, for example, have practically no assets, pitiful turnover and no prospect of registering profits even if an 11th hour deal happens and the club is saved. It is a sinking ship rgeardles sof owner. Edited July 29, 2009 by vikingTON -1 Quote Link to comment Share on other sites More sharing options...
Jay Silverheels Posted July 29, 2009 Share Posted July 29, 2009 Aren't Celtic in the black? No, Celtic are in the green and white, silly. 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted July 29, 2009 Share Posted July 29, 2009 No, Celtic are in the green and white, silly. 0 Quote Link to comment Share on other sites More sharing options...
The ghost of Jim Morton Posted July 29, 2009 Share Posted July 29, 2009 (edited) 6000 posts..... Call the Guinness book of world records.... Edited July 29, 2009 by The ghost of Jim Morton 0 Quote Link to comment Share on other sites More sharing options...
Numbers Posted July 29, 2009 Share Posted July 29, 2009 VT the current available figure are 22 million for rangers and 6 million for celtic, but this does not include monies owed on stadiums. and does not include the perenial 20 plus million debt that rangers ( ithink) hold against any future or possible profits. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted July 29, 2009 Share Posted July 29, 2009 VT the current available figure are 22 million for rangers and 6 million for celtic, but this does not include monies owed on stadiums. and does not include the perenial 20 plus million debt that rangers ( ithink) hold against any future or possible profits. So that's not a combined £100 million then. Glad we cleared that up. -1 Quote Link to comment Share on other sites More sharing options...
Numbers Posted July 29, 2009 Share Posted July 29, 2009 By the way, i only mentioned this as there will almost certainly be another club hitting the lime lights this coming season and it could be any club, mine, yours, or whichever. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghPar1975 Posted July 29, 2009 Share Posted July 29, 2009 Given that MvGruther is not at the SFL till tomorrow at 2 i'd be amazed if nothing was tried. In saying that, and i've said it before, i'd really have expected more following the meeting if anything could have been salvaged. Following that BBC interview I really feel for anyone who had to work with him...that man has some incredible self belief....pity its misguided. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted July 29, 2009 Share Posted July 29, 2009 Away and don't talk so fcuking daft. What would the criteria be?Are you confident those lining up to be involved in running Livi would pass it? Should the rules be bent just for Livi? The same as in England where it worked well in getting rid of the Thai chap at Man City, I'd imagine. Yes. No, that's the point I've been making. They are looking to ensure that morons like Massone can't f**k clubs over again. 0 Quote Link to comment Share on other sites More sharing options...
third lanark Posted July 29, 2009 Share Posted July 29, 2009 If Livingston do fold, the fact Airdrie will take their place in the first divison will give a far higher budget to Airdrie than they were expecting. Is it likely that Airdrie will buy up most of the Livingston players and some of the backroom staff as well then 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted July 29, 2009 Share Posted July 29, 2009 The same as in England where it worked well in getting rid of the Thai chap at Man City, I'd imagine.Yes. No, that's the point I've been making. They are looking to ensure that morons like Massone can't f**k clubs over again. Would Flynn or Keane have failed it? Allegedly David Murray got thrown out of school for selling shirts that were of dubious quality and then f*cked over his partners to take over MIM, would he have passed? AlFayed is allegedy no angel, would he be in or out. Peter Ridsdale had had company that went bust owing the taxman £400,000, in or out? What about Ken Bates? Murderers get released from prisons and convictions become spent, would this happen with your criteria? Massone didn't kill your club, West Lothian did!! 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted July 29, 2009 Share Posted July 29, 2009 No, Massone killed the club. West Lothian didn't help admittedly but Massone had the chance to save it while pocketing some cash himself and chose not to. Unforgivable. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted July 29, 2009 Share Posted July 29, 2009 There is yet to be a credible plan to save Livingston, be that by Massone or the trust or stalking horses like McDougall. There isn't one because the chances of it succeeding would be improbable. All the so called saving plans do is drag out a bit of time on the life support while the club keep haemorraghing money. -1 Quote Link to comment Share on other sites More sharing options...
Glasgow Loon Posted July 29, 2009 Share Posted July 29, 2009 Massone had a hand in killing the club but FLYNN was the one that started it down the road to oblivion and he should be held more responsible than massone although massone hasnt helped matters. 0 Quote Link to comment Share on other sites More sharing options...
AND180Y Posted July 29, 2009 Share Posted July 29, 2009 No, Massone killed the club. West Lothian didn't help admittedly but Massone had the chance to save it while pocketing some cash himself and chose not to.Unforgivable. Massone handing over the shares would only delay it, Livi have been fcuked since the days of Keane. The business model is fatally flawed. 0 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.