Huistrinho Posted May 6, 2012 Share Posted May 6, 2012 Whenever my frustration boils over, I read Alex Thomson's blog and it restores my faith in the world of journalism. Maybe all is not yet lost. Sadly he'll disappear as soon as this blows over and we'll be left with Traynor, Keevens et al. It would be nice if we could convince him to pack his bag and move his career north. 0 Quote Link to comment Share on other sites More sharing options...
Captain_Sensible Posted May 6, 2012 Share Posted May 6, 2012 But Windy Millar will be buying oldco and moving the stuff to newco to take the assets away from the creditors, and stop them getting paid the maximum value its all the same Deary me. Miller is starting a newco. His newco has made the biggest offer for the assets of oldco. They are getting maximum value. The administrators are selling those assets to newco and the money will go to the creditors. Its all legal and above board. 0 Quote Link to comment Share on other sites More sharing options...
chrismcarab Posted May 6, 2012 Share Posted May 6, 2012 Might be better if everyone got her name correct... Robison not Robinson Whoops, I bet she'll mention that in her reply....... 0 Quote Link to comment Share on other sites More sharing options...
Captain_Sensible Posted May 6, 2012 Share Posted May 6, 2012 Everyone who makes a living in the SPL is now facing financial Armageddon. Not St. Mirren. We have no debt, a brand new stadium, brand new training complex. We survived for 10 years in the First Division breaking even despite a £3 million debt and crumbling stadium. If we could do it then then I'm sure we can cope in the much better financial position we are in today. 0 Quote Link to comment Share on other sites More sharing options...
Skudbook Posted May 6, 2012 Share Posted May 6, 2012 1336329633[/url]' post='6207857']Deary me. Miller is starting a newco. His newco has made the biggest offer for the assets of oldco. They are getting maximum value. The administrators are selling those assets to newco and the money will go to the creditors. Its all legal and above board. Only if the creditors agree. And they haven't yet and are unlikely to in the next week. 0 Quote Link to comment Share on other sites More sharing options...
p&b is a disgrace Posted May 6, 2012 Share Posted May 6, 2012 Deary me. Miller is starting a newco. His newco has made the biggest offer for the assets of oldco. They are getting maximum value. The administrators are selling those assets to newco and the money will go to the creditors. Its all legal and above board. The creditors do need to ask themselves whether the 11.2 million that Dumb & Dumberer have been offered for these assets is a reasonable sum. Do they even know what "assets" will transfer to the new co? 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 6, 2012 Share Posted May 6, 2012 They would be smarter if they did with Rangers relegated to Div 3, and out of the picture for at least three years, they'd have the Champions league money to themselves. Giving the rest of the SPL a fairer share of TV revenue would make them that wee bit stronger financially, not strong enouygh to cause Celtic any sleepless nights obviously but, strong enough so that when Rangers do arrive back it will be to a stronger league and they may very well struggle to get back to their previous status. Dream on. Celtic need every penny they can get. They have a net loss of £28.537 million over the last 10 years and they are still not competitive in Europe. Furthermore, the impact of losing Rangers on Scotland's coefficient will make sure that they and any other Scottish teams will have to play CL qualifiers from which they have always had a hard time emerging. Celtic will not be giving any of it away. 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted May 6, 2012 Share Posted May 6, 2012 (edited) Deary me. Miller is starting a newco. His newco has made the biggest offer for the assets of oldco. They are getting maximum value. The administrators are selling those assets to newco and the money will go to the creditors. Its all legal and above board. What happens if the creditors decide that they could get a better return by liquidating the company and selling the assets individually? I'm sure that would come to more than £11M. Isn't that supposed to be the administrators' role? And can't those creditors object to the transfer of assets? Edited May 6, 2012 by The DA 0 Quote Link to comment Share on other sites More sharing options...
thenolly Posted May 6, 2012 Share Posted May 6, 2012 Deary me. Miller is starting a newco. His newco has made the biggest offer for the assets of oldco. They are getting maximum value. The administrators are selling those assets to newco and the money will go to the creditors. Its all legal and above board. He is buying Oldco with all the debt attached to it, It is only legal if the assets are purchased from oldco at a proper and fair price, so how much will he pay for Ibrox, Murray park etc all in prime locations his £11 million wont cover that, or the players? All the creditors HMRC etc can stop sales going through if he were to transfer the assets for say a quid 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 6, 2012 Share Posted May 6, 2012 He is buying Oldco with all the debt attached to it, It is only legal if the assets are purchased from oldco at a proper and fair price, so how much will he pay for Ibrox, Murray park etc all in prime locations his £11 million wont cover that, or the players? All the creditors HMRC etc can stop sales going through if he were to transfer the assets for say a quid The only Rangers asset that has any market value is Auchenhowie and that value will depend on zoning laws. Ibrox only has value if you happen to be looking for a second hand stadium in Govan. In return for wage cuts, the transfer value of the best players has been cut drastically. The most valuable asset is the 'brand' and the support and you cannot sell those. I'm not sure that liquidation would even raise £11 million. 0 Quote Link to comment Share on other sites More sharing options...
thenolly Posted May 6, 2012 Share Posted May 6, 2012 (edited) The only Rangers asset that has any market value is Auchenhowie and that value will depend on zoning laws. Ibrox only has value if you happen to be looking for a second hand stadium in Govan. In return for wage cuts, the transfer value of the best players has been cut drastically. The most valuable asset is the 'brand' and the support and you cannot sell those. I'm not sure that liquidation would even raise £11 million. The land it sits on is worth alot though, or for a stadia management company to buy it for say £10 million and rent it out at say £2 million a season, plus hold concerts etc, and the conference and hospitality it offers Edited May 6, 2012 by thenolly 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 6, 2012 Share Posted May 6, 2012 (edited) The land it sits on is worth alot though After you have paid to demolish it, and renovated the main stand which is listed? And all that in a struggling economy. And who would rent it? And there is a conference/exhibition/concert centre just over the river? Edited May 6, 2012 by Paquis 0 Quote Link to comment Share on other sites More sharing options...
archie guevara Posted May 6, 2012 Share Posted May 6, 2012 Whoops, I bet she'll mention that in her reply....... yeah sorry, I'd have used the "I'm a smart arse smiley" if there was one... 0 Quote Link to comment Share on other sites More sharing options...
thenolly Posted May 6, 2012 Share Posted May 6, 2012 After you have paid to demolish it, and renovated the main stand which is listed? And all that in a struggling economy. And who would rent it? And there is a conference/exhibition/concert centre just over the river? Rangers of Glasgow 2012 would need a ground or you thinking about scotstoun 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 6, 2012 Share Posted May 6, 2012 (edited) It's not a universal view. I value sporting integrity over everything else and will be disgusted if we are allowed to stay in the SPL as a newco next season. There's at least some honour to be found in taking the appropriate punishment (relegation to the 3rd) and working our way back up through the ranks. Don't you realise that WE and NEWCO are mutually exclusive? Whoever sets up this newco may choose to call it Rangers United or some such marketing label. There is no reason why it shouldn't be Celtic United. It will called whatever it takes to convince the Rangers supporter base it is business as usual. It isn't and don't let anyone pretend it is. Even in the 3rd division the newco is NOT Glasgow Rangers. It is merely a new company that leaves behind a corrupt and toxic company that has been found out. Edited May 6, 2012 by thelegendthatis 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 6, 2012 Share Posted May 6, 2012 Rangers of Glasgow 2012 would need a ground or you thinking about scotstoun An interesting thought. But a high level of risk for any acquirer because they would only really have one customer and the balance of power would not be in their favour. 0 Quote Link to comment Share on other sites More sharing options...
p&b is a disgrace Posted May 6, 2012 Share Posted May 6, 2012 An interesting thought. But a high level of risk for any acquirer because they would only really have one customer and the balance of power would not be in their favour. I doubt the one customer issue is a real problem as the bears do not do walikng away. A bigger risk for any acquirer would be negative impact that the inextricable link to that vile institution would bring. 0 Quote Link to comment Share on other sites More sharing options...
BigBadSaint Posted May 6, 2012 Share Posted May 6, 2012 (edited) Wouldn't you just love if a company like Pepsi-Co decided it was a big fun advertising opportunity and bid double the old Clydesdale Bank sponsorship deal to rename the league after it's CHEETOS Brand - The CHEETOS SPL.....would generate a massive amount of publicity......an truly worldwide (not just worldwide in a Rangers fans opinion of their fame) Would be interesting to see whether the financial benefit of such a deal would come before the league's integrity. So that's CHEETOS and KY Jelly to contact about a magnificent opportunity for Publicity.....might try this lot too the more unkind might suggest this insurance group Edited May 6, 2012 by BigBadSaint 0 Quote Link to comment Share on other sites More sharing options...
Paquis Posted May 6, 2012 Share Posted May 6, 2012 I doubt the one customer issue is a real problem as the bears do not do walikng away. A bigger risk for any acquirer would be negative impact that the inextricable link to that vile institution would bring. If I put my businessman hat on for a moment, acquiring an asset that has only one possible customer seems very risky to me. I would want a very significant discount to compensate for the level of risk. 0 Quote Link to comment Share on other sites More sharing options...
thelegendthatis Posted May 6, 2012 Share Posted May 6, 2012 Rangers of Glasgow 2012 would need a ground or you thinking about scotstoun There is a Glasgow Council pitch beside the M8 just behind ASDA and the Benburb Juniors ground which would suit Rangers Amateurs just fine. 0 Quote Link to comment Share on other sites More sharing options...
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