Big Rangers Administration/Liquidation Thread - All chat here!

[Broccoli Dog]

The Rangers

[Shawfield Stallion]

Was it the poster on here Fast Action, by any chance?

The Clyde fan? That's a name I haven't heard in ages! Nah, it wasn't him (I hope)

[saint jason]

I was speaking to a guy in the pub last night who was telling me that The Rangers are about to float on the stock market and will generate at least £20m due to the assets of the company, and every time they sign a player like Sh els their value rises. I know pretty much nothing about the stock exchange, but surely to f**k that can't be true?

He also said that HMRC absolutely cannot punish the Newco and that they're on target to sell 30,000 season tickets

This may well be successful as it is a well known fact that shite floats...

[Jacksgranda]

They can't just float right away. There are a few minor considerations, like financial history, audited accounts, satisfactory business plan etc, which need to be submitted to the relevant Exchange such as AIM or PLUS which the auld died Rangers were on until kicked off due to....................financial impropriety.

I don't know what the timescales on this are but I believe it's years rather than months.

http://local.stv.tv/...-file-accounts/

Should that not be PMSL?

[Happy Buddie]

It would also require The Rangers fans to part with their hard earned to back Charles Green.

You will recall that when David Murray tried a similar excercise a few years back it was a massive flop and raised about £500k from Rangers fans when Murray was looking for millions to pay off debt.

That's for a successful float, not a float. Personally, I think they'll float eventually........like a brick.

[TheTaxMan]

Sober was he?

I met a mate in the pub one weekend (home on leave) talked to him for ages. I met hm the next week and said "Hi John .. long time no see" .. he looked at me at told me I spoke to last week ... apparently I was coherent as well ... I couldn't remember a thing,

No doubt I was spouting pish though ....

Surprising how the pub has that effect on you. I remember waking up in bed with Godzilla with no memory of speaking to her, seem to remember chatting to Raquel Welsh though..........

[Mark Connolly]

Surprising how the pub has that effect on you. I remember waking up in bed with Godzilla with no memory of speaking to her, seem to remember chatting to Raquel Welsh though..........

Think it was probably Denise Welch.

[FinnesTON]

Please Click This Link to listen to Stuart Cosgrove own Graham Spiers on Off The Ball over and over again. Pleasing.

What OTB does highlight every time they have one of the succulent lamb brigade on is, they are more concerned with their own status than the sport of football. How much does Traynor, Spiers etc actually bring to the game, feck all .

When Speirs was highlighting that the Arab chairman stated the collapse of Setanta caused them to lay off players , well thats what a responsible business would do, does anyone know what Rangers reaction was ?

By the time Sevco reach the SPL those responsible clubs will have financially readjusted the fear for the Zombies is if these clubs survive without them the myth built by themselves will be consigned to the history books just like liquidated Rangers.

Sticking up for the cheats what will they advocate next Sir Fred Goodwin to become chairman at Barclays , he has been punished enough .......

[Buddie Holly]

today is the beginning of the end for newco.goodbye.

[Bobby_F]

This rumour is they plan to float on AIM and according to blurb relating to them - here and here then they do not have to provide 'their history'

Apparently it is bit of a 'casino market' ... some quotes from the pdf.

I'm guessing that this quote means no historical accounts required coz WATP

However .. I can see the Orc fans getting fleeced should 'these legit businessmen' manage a successful a share flotation ...

ROLL ON OCTOBER and LET THE SIDESHOW BEGIN ...

I believe Rangers were initially on OFEX, then PLUS - both markets with much less regulation and liquidity than AIM. I would say they have next to no chance of a listing there anytime soon. Even if only because they couldn't afford the listing fees

[stlucifer]

They can't just float right away. There are a few minor considerations, like financial history, audited accounts, satisfactory business plan etc, which need to be submitted to the relevant Exchange such as AIM or PLUS which the auld died Rangers were on until kicked off due to....................financial impropriety.

I don't know what the timescales on this are but I believe it's years rather than months.

http://local.stv.tv/...-file-accounts/

They can begin the process and I believe the AIM option doesn't call for any audited accounts for the floatation.

The process can still take, typically between 4 and 6 months. Sometimes cosiderably longer if they have to revise and redraft proposals.

[Bobby_F]

Yes but with the NEWCO effectively having very little debt compared to the OLDCO I can imagine that this is the way to go. Not sure of the authenticity of the "hoax caller audio file" where they contacted Imran Ahmad (Zeuss) and pretended to be an investor. But it seemed genuinely to be Imran Ahmad on the line answering the questions and getting irate ..

During that interview he did confirm they were looking to float with AIM ... whether they manage to pull it off that's another issue.

Sorry can't find the link as it was quite a few pages back ...

But I cannot see them surviving to Xmas without some sort of a share issue being executed .. that or bringing other major investors in.

I guess they could be thinking about this, but it really doesn't make any sense.

Just getting a listing does not in itself actually mean they raise any funds. I suppose perhaps these mythical investors could be insisting on their investment being regulated through something like AIM rather than through a series of documents drawn up by Charlie boy's lawyers, but I would be amazed if the shady characters who seem to be the only people interested in Rangers' corpse would really want the public scrutiny that a listing even on this smaller market would bring.

[Bobby_F]

They can begin the process and I believe the AIM option doesn't call for any audited accounts for the floatation.

The process can still take, typically between 4 and 6 months. Sometimes cosiderably longer if they have to revise and redraft proposals.

It will also cost them around £250,000 in fees* - with that money they could probably cover the wages of a new squad player for six months.

*Plus there is usually a percentage of any money raised added on top of that.

[cyderspaceman]

' post='6485869']

They can't just float right away. There are a few minor considerations, like financial history, audited accounts, satisfactory business plan etc, which need to be submitted to the relevant Exchange such as AIM or PLUS which the auld died Rangers were on until kicked off due to....................financial impropriety.

[/i]

I don't know what the timescales on this are but I believe it's years rather than months.

http://local.stv.tv/...-file-accounts/

If a business called 'Rangers' was kicked out for financial impropriety

and a 'new' business calling themselves , err, 'Rangers' tries to get (back) in

then I don't give them much of a chance.

Not without sanctions..................

Concerning the TV deal.

The BBC site says no financial details are available.

I don't see why Cock&Law would not have held out for at least the agreed deal

and possibly even more, because

let's face it, the Orcs will continue to watch their team and other

viewers, like me, will probably watch hoping to see them fail.

Whereas I would not have been interested before and

I'm sure I'm not the only one.

You could even say I'm OBSESSED

So, more viewers, not fewer.

I won't subscribe though, just visit my mate's house more often.

[lanky_ffc]

PLUS and AIM entry requirements are less stringent than, say LSE. But Rangers would still fall far short of the requirements in terms of audited accounts, corporate governance and demonstrating they have adequate working capital. For instance, PLUS - the least stringent of the UK markerts - requires them to publish audited accounts prior to listing. Hard to see how they could produce anything credible given that they are only a couple of months old.

[ArabFC]

Browsing Orc Media, it seems a few of them are beginning to realise that the SPL clubs aren't going to crash and burn like everyone had predicted, and they don't like it

From a Dundee United point of view, the TV money is the same as what we've been on the last few years, and with the opportunity of now changing the distribution to a fairer model now available, that could go up.

Season tickets are slightly up and still selling, and we're gonna see more Dundee fans visiting Tannadice than the Orcs have brought through in the last couple of years, I can confidently predict we're gonna be fine!

Armegeddon? You're a joke Jim Traynor et al

[Araminta Moonbeam QC]

Browsing Orc Media, it seems a few of them are beginning to realise that the SPL clubs aren't going to crash and burn like everyone had predicted, and they don't like it

From a Dundee United point of view, the TV money is the same as what we've been on the last few years, and with the opportunity of now changing the distribution to a fairer model now available, that could go up.

Season tickets are slightly up and still selling, and we're gonna see more Dundee fans visiting Tannadice than the Orcs have brought through in the last couple of years, I can confidently predict we're gonna be fine!

Armegeddon? You're a joke Jim Traynor et al

Yes, all the 'Turkeys have voted for Christmas' sneering was never going to play out the way their deluded little minds thought.

Glad Dundee Utd have a bright future, a decent Scottish club with a proud history. Took a good stand when the pressure was on, too.

[Bobby_F]

Browsing Orc Media, it seems a few of them are beginning to realise that the SPL clubs aren't going to crash and burn like everyone had predicted, and they don't like it

From a Dundee United point of view, the TV money is the same as what we've been on the last few years, and with the opportunity of now changing the distribution to a fairer model now available, that could go up.

Season tickets are slightly up and still selling, and we're gonna see more Dundee fans visiting Tannadice than the Orcs have brought through in the last couple of years, I can confidently predict we're gonna be fine!

Armegeddon? You're a joke Jim Traynor et al

That has to be a priority. I'm all for awarding success, but the old breakdown (1,2..................... everybody else) was patently unfair - and the main reason the OF wanted a voting system where any two clubs working together had a veto.

With a league set up from day 1 as they wanted it, why would they be bothered that THEY could also have proposals vetoed when everything was just the way they wanted it.

[lanky_ffc]

I'm sure they will have an accountant who will sign off on their accounts .... it does not have include historic trading. All they will have to show is .. income streams (season ticket sales, jerseys, pie and bovril on match day, etc) , current working capital and projected revenue steams ...

The only question is whether or not the Orcs are prepared to dig deep to save their beloved club ... I believe they will appeal to the fans to purchase a major stake in their club and offer them representatives on the board.

It seems the only way out for them .. I cannot imagine their plan is to sit back and hope ...

Anyone else have a cunning plan .... Baldrick?

I'm not doubting that they'll get accounts signed off. But given the pathetic amount raised by RFF, they're going to need a lot more than just their fanbase buying into this float. It will take a lot to convince potential investors with no affinity to the club to part with their cash. And I'm not convinced they're capable of doing that.

Edited August 1, 2012 by lanky_ffc

[blueone]

Yes but with the NEWCO effectively having very little debt compared to the OLDCO I can imagine that this is the way to go. Not sure of the authenticity of the "hoax caller audio file" where they contacted Imran Ahmad (Zeuss) and pretended to be an investor. But it seemed genuinely to be Imran Ahmad on the line answering the questions and getting irate ..

During that interview he did confirm they were looking to float with AIM ... whether they manage to pull it off that's another issue.

Sorry can't find the link as it was quite a few pages back ...

But I cannot see them surviving to Xmas without some sort of a share issue being executed .. that or bringing other major investors in.

This is the link.

If I've picked it up properly they have 20 investors who have put in 500,000 each to make up the 10 million spent so far and are hoping to raise another 40 million by a share issue on the AIM in October.