Rangers Football Club heading for administration again!

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mpij
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Location: Dundee Scotland uk

Rangers Football Club heading for administration again!

Post by mpij »

Rangers (variously known as Sevco 5088, Sevco Scotland ltd, The Rangers Football Club, Sevconians, Rangers International Football Club ltd., and Schrodingers FC) yesterday had an offer of 15% pay cut rejected by players. Earlier in the week one of the initial investors sold their penny shares to asset strippers/venture capitalists making a profit of half a million. The club are losing a million a month and according to their finance director will be down last million by April. I think they will limp to end of season by which time season ticket sales will have replenished their balance slightly. At some point next season they will go into admin. They claim no external debt but I suspect TRFC(the club) will owe RIFC(the holding company) loads and Ibrox Murray Park and other assets will be transfered and the football club sold to "The Man Who Would Be King" (a man convicted on 41 counts of tax evasion and branded by South African High Court judge "a glib and shameless liar"). They will be left paying rent for Ibrox and looking for new training ground. Unless of course Craig White turns up again to claim the floating charge and walks away with the lot minus what he owes Ticketus. Lots more entertainment to come. I would not normally say this but good article today in the mail. http://www.dailymail.co.uk/sport/footba ... vival.html
mpij
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Posts: 148
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Location: Dundee Scotland uk

Re: Rangers Football Club heading for administration again!

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Former director Imran Ahmad at Court of Session tomorrow attempting to ringfence £500,000 relating to claim for unpaid bonuses. Also rumors on Twitter of emergency board meeting tonight. Things may be getting interesting.
mpij
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Posts: 148
Joined: 23:58 Mon 13 Feb 2012
Location: Dundee Scotland uk

Re: Rangers Football Club heading for administration again!

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@STVGrant
Rangers CFO Philip Nash statement to court: “Renewal of season tickets has been slower, rather than lower, than expected”. Head scratcher.
2:00pm – 6 May 14
mpij
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Posts: 148
Joined: 23:58 Mon 13 Feb 2012
Location: Dundee Scotland uk

Re: Rangers Football Club heading for administration again!

Post by mpij »

Rangers win this round and limp on.
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