Stag Nation Posted August 12, 2012 Share Posted August 12, 2012 How can £1M buy a 10% stake in a business that was valued at £5.5M by the administrators 2 months ago. Where has the extra value come from...........or were they sold at less than market value? They (it?) were/was sold to the highest bidder. That, by definition, was the market value at the time. Mr Ashley may think it's now worth more. Bear in mind though, that if Ashley really is a "billionaire", then £1 million to him is the equivalent of what we'd find down the back of the sofa, and won't be missed if he's got the sums wrong. He probably isn't a billionaire, and he probably won't invest. So far all we've had is Green saying "hopefully". 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted August 12, 2012 Share Posted August 12, 2012 How can £1M buy a 10% stake in a business that was valued at £5.5M by the administrators 2 months ago. Where has the extra value come from...........or were they sold at less than market value? Season ticket sales and the retention of Kirk Broadfoot 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted August 12, 2012 Share Posted August 12, 2012 How can £1M buy a 10% stake in a business that was valued at £5.5M by the administrators 2 months ago. Where has the extra value come from...........or were they sold at less than market value? If your business is worth £1m and an investor offers you £750k for 1% of it, does that suggest a) your company suddenly has extra value, b) the investor is being fleeced, or c) there is some sort of dodgy deal going on? 0 Quote Link to comment Share on other sites More sharing options...
FinnesTON Posted August 12, 2012 Share Posted August 12, 2012 What about the 5 billionares?!!! Ashley will be in a position to provide several newcastle players on loan to The Rangers. If anyone decent would want to leave to play for them is another thing. That may help Newcastle reduce their wage bill but not Sevco 0 Quote Link to comment Share on other sites More sharing options...
FinnesTON Posted August 12, 2012 Share Posted August 12, 2012 They (it?) were/was sold to the highest bidder. That, by definition, was the market value at the time. Mr Ashley may think it's now worth more. Bear in mind though, that if Ashley really is a "billionaire", then £1 million to him is the equivalent of what we'd find down the back of the sofa, and won't be missed if he's got the sums wrong. He probably isn't a billionaire, and he probably won't invest. So far all we've had is Green saying "hopefully". He isin't exactly the most popular of owners and unsuccessfully tried to sell Newcastle while he renamed the stadium and caused even more disharmony , a great addition to the board. 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted August 12, 2012 Author Share Posted August 12, 2012 Is it really worth keeping this open just for around a dozen guys to posts on, all the serious posters have left and we're left with the dregs. Sevco people continue to bring Scottish football into disrepute. There's the independent investigation into the EBTs. There's the BDO investigation into naughty individuals. There's Charlie announcing off-the-radar billionaires. There might be redundancies (after six months), hopefully that cnut of an 'ambassador' goes first. There's still the possibility that Doncaster, Regan, Longmuir, and shitebag SPL chairmen attempt to gerrymander league reconstruction to benefit Sevco over Scottish football itself. There's a lot for us 'dregs' to keep an eye on. There is of course the wee side issue that McCoist is fcuking useless, as are the Sevco Works XI SFL Division 3 Irn Bru All Stars. Close the thread? Don't think so. Much pointing and laughing yet to be done. 0 Quote Link to comment Share on other sites More sharing options...
P45 Posted August 12, 2012 Share Posted August 12, 2012 They (it?) were/was sold to the highest bidder. That, by definition, was the market value at the time. Mr Ashley may think it's now worth more. Bear in mind though, that if Ashley really is a "billionaire", then £1 million to him is the equivalent of what we'd find down the back of the sofa, and won't be missed if he's got the sums wrong. He probably isn't a billionaire, and he probably won't invest. So far all we've had is Green saying "hopefully". Why give him that title? It sounds like the cringe worthy taxi drivers who phone up SSB and call everyone mister to sound intelligent. 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted August 12, 2012 Share Posted August 12, 2012 Is it really worth keeping this open just for around a dozen guys to posts on, all the serious posters have left and we're left with the dregs. This thread is here so Sevco cnuts, like yourself, can be hounded to the ends of the earth, or time, itself, comes to a halt. 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted August 12, 2012 Share Posted August 12, 2012 (edited) Sevco people continue to bring Scottish football into disrepute. There's the independent investigation into the EBTs. There's the BDO investigation into naughty individuals. There's Charlie announcing off-the-radar billionaires. There might be redundancies (after six months), hopefully that cnut of an 'ambassador' goes first. There's still the possibility that Doncaster, Regan, Longmuir, and shitebag SPL chairmen attempt to gerrymander league reconstruction to benefit Sevco over Scottish football itself. There's a lot for us 'dregs' to keep an eye on. There is of course the wee side issue that McCoist is fcuking useless, as are the Sevco Works XI SFL Division 3 Irn Bru All Stars. Close the thread? Don't think so. Much pointing and laughing yet to be done. Not to mention that the oldco isn't quite liquidated YET and the newco may well be in admin before the new year bells have stopped echoing. eta I may have missed it but does newco have a full SFA membership yet? Edited August 12, 2012 by cyderspaceman 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted August 12, 2012 Share Posted August 12, 2012 Not to mention that the oldco isn't quite liquidated YET and the newco may well be in admin before the new year bells have stopped echoing. eta I may have missed it but does newco have a full SFA membership yet? Yes, it has OldCo's from the 1800s. 0 Quote Link to comment Share on other sites More sharing options...
PeeTeeJag Posted August 12, 2012 Share Posted August 12, 2012 For many months now many on here that aren't SevCo fans have been banging our heads against a thick (or is it brick?) wall as we try to explain to SevCo fans why we dislike everything the club stands for. We hear ourselves saying over and over again, "How can you not get this?????", but sadly the "thinking", if that's what it can be called, of SevCo fans remains the same. Another great example of a "WTF?!?!?!?" moment has again come via that unintentionally funny SevCo 'ficial website with this gem........ http://www.rangers.co.uk/index.php/news/headlines/item/1718-gers-forced-into-strip-change It appears that the bad boys of officialdom over at Hampden have persecuted SevCo yet again!!! Surely they have suffered enough? Now they were "forced" to change from their "third new kit" against Peterhead because it clashed with Peterhead's home strip. As "the second kit is not yet available" they were "forced" to wear training tops, which I have no doubt played a major part in not winning 0-15. Next they will be complaining that it is a cafflick conspiracy that they must play on green grass!!! I look forward to more moments of stunning stupidity from SevCo and it's fans over the coming months until they implode. 0 Quote Link to comment Share on other sites More sharing options...
Itwiznaeme Posted August 12, 2012 Share Posted August 12, 2012 (edited) For anyone who hasn't read every page of the thread, this is an update of what has happened during the past few months.... Motherwell Born Billionaire arrives Whyte being applauded into his seat by the blue order CW Interviews - "Ahhh..Ehh..Ehh..Ehh..Ahh..Ehh..Ahh..Ehh" Craig Whytes'....ahemmmm....."bird" Out to Malmo in CL Qualifier Out to Maribor in EL Qualifier Out to Falkirk in League Cup BBC Documentary on Whyte proves he's a shyster Orcs Protest at BBC for saying he's a shyster League's over comment from Jelavic Losing a 12 point lead to Timmy before new year Loving Cup with CW - "To the Queen" Selling Jelavic for a fraction of his value Signing Celik Seeing Celik play football Rangers file for Administration HMRC forcing them into Administration CW speech to a massively upset Orc crowd of 34 people Revelation of Non-Tax payments Selling the Arsenal Shares....my god the Arsenal shares....the Arsenal shares "The Big Hoose Must Stay open" Hurting orcs EVERYWHERE Explaining debt to an orc video Retiring number 12 for the fans The appointment of Duff & Phelps Realising you recognise that guy at D&P because he turned up with CW 6 months earlier Attempting to sign Cousin while in administration Celik effs off The player's taking a wage cut The initial Creditor's list "Holy Smoke" Losing their place in Europe to Motherwell CW involved with the St Mirren takover The fake pledges from fake orc fans from their fake massive support The RFFF choosing to pay Dunfermline but not Dundee Utd - well played The RFFF having to pay for Weir's retirement gift The RFFF paying to re-lay a pitch which might never be used The RFFF donations going to "Mr Custard the Bluenose Clown" The RFFF asking for pledges from "oversees" The Fighting Fund in general The red and black scarfs The karaoke fund raiser that will save the club "Pillared from batter to post" The Blue Knights The Bill Ng bid The Bill Miller "Incubator" Brian Kennedy Paul Murray "Yank go home" from the hordes The Chick v Jabba catfight The transfer embargo The transfer embargo upheld "Who are these people?" from Fat Sally The orcs threaten to burn down the Raith Rover's stands Alex Thomson and his general hunskelping The farewell Ibrox lap of honour to the loyal 500 who actually stayed Having a Party when Rangers Die Doing the Conga When Rangers Die Terry Butcher loving his Ice Cream The Grim Reaper banner Passing the Coffin when Rangers Die "When Will We See You Again" after the last ever OF game Lennon lifts the League trophy The inception of the "Pacific Shelf Theory" We Don't Do Walking Away The "We Don't Do Walking Away" song Charles 'Chucky' Green enters the story Red Card to Liquidation - good plan Dave King tells them not to buy season books - good plan Chucky Green says if CVA not agreed Rangers will lose their History CVA not agreed HMRC Skelp them into oblivion The BBC Documentary Part 2 The porn star Prince Albert of Monaco Joanna Lumley The EBT 53 revealed Walter tries to buy assets an hour after they're sold Walter Walks Away Walter Smith: "we wish the NEW Rangers Football Club every good fortune" The Orcs protest at Hampden Unable to use Rangers name for newco until oldco is liquidated All Scottish Football Fans turn on the orcs for their arrogance Turnbull Hutton (deserves to be in twice!) Newco try to bypass all leagues and go straight into SPL Newco told to get to eff with their SPL application The presentation to the SPL revealed Offering to take the transfer ban at the same time as trying to sign Black Newco try to bypass all leagues and go straight into SFL1 Newco told to get to eff with their SFL1 application Newco put into SFL3 Return of the number 12 shirt Booted out by Subbuteo Booted out by Fifa 13 (maybe!) The execution of blow-up dolls Bomber Brown's rant on the steps of Tesco "Show us the title deeds" "Yous buy the Pies!!!!!" Bomber Brown on the radio "Show us the title deeds" Bomber Brown on sky sports "Show us the title deeds" Bomber Brown meeting with the RFFF Everything Gordon Smith has said past, present and future Chris McLaughlin reveals Ally is not wearing a tie Naisy and Whitty Walk Away Everybody Walks Away Broadfoot Stays The hurting from Jabba The hurting from Chick The hurting from Hately Orcs enter the Ramsden Cup Still no license to play football Orcs compared to Kit-Kats The "conditional" membership Brechin taking them to extra time The Hedge Celebrating an extra time goal at Brechin like it was the effing Champions League Ally's pitch side "Churchill" look - in front of a van and wooden bench SPL signing a new TV deal with SKY/ESPN SPL sign a TV deal with YouTube Armageddon!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Chucky Green blames all Orcs problems on, not themselves, but the bigotry of others Orcs defending Chucky Green a month after saying they hated everything about him Billy Dodds admits to having an EBT Neil McCann admits to having an EBT David Murray says no rules were broken Murray hiding from the media's questions RTC destroys Murray's claims and makes him look like a complete idiot Needing a last minute goal to scrape a draw against Peterhead There is much more but those are the highlights. Sorted. Edited August 12, 2012 by Itwiznaeme 0 Quote Link to comment Share on other sites More sharing options...
Mark Connolly Posted August 12, 2012 Share Posted August 12, 2012 Sorted. I think I understood it better the first time Reading back, some of it is genuinely unbelievable! 0 Quote Link to comment Share on other sites More sharing options...
Itwiznaeme Posted August 12, 2012 Share Posted August 12, 2012 I think I understood it better the first time Reading back, some of it is genuinely unbelievable! Unfortunately for The Sheeple ... it is all true. 0 Quote Link to comment Share on other sites More sharing options...
cimex Posted August 12, 2012 Share Posted August 12, 2012 The RFFF donations going to "Mr Custard the Bluenose Clown" My favorite moment so far.......... 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted August 12, 2012 Share Posted August 12, 2012 They (it?) were/was sold to the highest bidder. That, by definition, was the market value at the time. Not actually the case, they were sold to the highest bidder prior to the CVA being rejected. A higher offer was made subsequently but the administrators had already a binding agreement in place with Sevco regardless of the outcome (£8.5m with / £5.5 without). I think we will possibly see D & P losing their insolvency licence over their mishandling of this case. 0 Quote Link to comment Share on other sites More sharing options...
Araminta Moonbeam QC Posted August 12, 2012 Share Posted August 12, 2012 Not actually the case, they were sold to the highest bidder prior to the CVA being rejected. A higher offer was made subsequently but the administrators had already a binding agreement in place with Sevco regardless of the outcome (£8.5m with / £5.5 without). I think we will possibly see D & P losing their insolvency licence over their mishandling of this case. Furthermore, the assets themselves were never offered for sale without the business (complete with toxic debt). 0 Quote Link to comment Share on other sites More sharing options...
cimex Posted August 12, 2012 Share Posted August 12, 2012 Not actually the case, they were sold to the highest bidder prior to the CVA being rejected. A higher offer was made subsequently but the administrators had already a binding agreement in place with Sevco regardless of the outcome (£8.5m with / £5.5 without). I think we will possibly see D & P losing their insolvency licence over their mishandling of this case. Furthermore, the assets themselves were never offered for sale without the business (complete with toxic debt). I don't have the expertise to understand exactly what this means with regard to the propsed Mike Ashley/SportsDirect deal - can someone enlighten me? 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted August 12, 2012 Share Posted August 12, 2012 (edited) For anyone who hasn't read every page of the thread, this is an update of what has happened during the past few months.... Motherwell Born Billionaire arrives Selling the Arsenal Shares....my god the Arsenal shares....the Arsenal shares You missed out the "off the radar wealth", a "Quantum" or two & the fact they never received the money for the Arsenal shares. Edited August 12, 2012 by kiddy 0 Quote Link to comment Share on other sites More sharing options...
The Real Saints Posted August 12, 2012 Share Posted August 12, 2012 Wahayyyyy! 0 Quote Link to comment Share on other sites More sharing options...
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