Sevco Thread

[Guest milne_afc]

 

petitions

[Guest milne_afc]

Neil Doncaster has laughed in the face of all the protests since the Huns imploded. With a straight face, he made up his own definition of liquidation, he's up to his nuts in the muck of the whole affair.

 

Better get a petition together and wanky banner ready. That'll show him.

[fine-n-dandy]

Neil Doncaster has laughed in the face of all the protests since the Huns imploded. With a straight face, he made up his own definition of liquidation, he's up to his nuts in the muck of the whole affair.

 

Better get a petition together and wanky banner ready. That'll show him.

It worked against Jimmy Calderwood.

 

Pittodrie 6 :applause: :applause: :applause:

[Herouali0]

Rangers International Football Club has rejected a possible £18m takeover offer from American Robert Sarver, saying it undervalues the Ibrox outfit.

But the board has invited the owner of the Phoenix Suns basketball outfit to invest in the Scottish Championship club along with other shareholders.

The news comes the day after football chairman Sandy Easdale loaned the club £500,000 to avoid a winding-up order.

And RIFC admits that it will require further funding by the end of January.

"The directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the club," said a statement to the Stock Exchange.

"This is likely to comprise loans in the short term and possibly equity in the medium term.

"The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders."

Sarver, a 53-year-old banker by profession, purchased a majority ownership in the Phoenix Suns' National Basketball Association franchise in 2004 and also owns the Phoenix Mercury women's basketball club.

Rangers revealed that his plan for the Glasgow club involved the American buying 100 million shares at 18p per share - below the current share price of 26p.

"While the directors welcome Mr Sarver's approach, they believe that, notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the company," said the RIFC statement.

"And, accordingly, the resolution to approve the placing is unlikely to achieve the 75% majority required.

"The directors do not intend to hold the general meeting, which would be necessary to implement the proposal."

Sarver made his approach in December, but the news only broke in the media on Sunday and it was followed by Rangers appointing Sports Direct executive Barry Leach as their finance director.

Leach heads brands at Mike Ashley's sport retail business, the Newcastle United owner's associate, Derek Llambias, having already been installed as chief executive following his £2m loan to the Scottish Championship club.

In a separate Stock Exchange statement, Sarver stressed that his approach for Rangers was a serious one.

"I'm looking forward to building a consensus amongst supporters and prominent Rangers-minded figures who have the long-term success of the club at heart."First and foremost, I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level," he said.

"I've had detailed research carried out on Rangers and I'm convinced that we could take it back to the top of the Scottish game on a stable and sustainable basis."

Sarver also explained that his interest was ignited by a conversation with former Rangers defender David Robertson, who is now based in Arizona.

"My three sons all play soccer, as we call it here in the US, for Davie's club," he said.

"Initially, I'd had some of my advisors examining potential investments in teams in the English Premier League and in Spain, but Davie encouraged me to take a close look at Rangers."

Robertson, who played 245 times for Rangers over six seasons and was part of the side that won nine titles in a row, added: "I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, he'll not rest until they are back on top again."

[tommo1903]

Tick tock.

 

They are a new club.

 

Not long now.

They'll run out of money in March.

 

etc.

[boboisared]

 

Rangers International Football Club has rejected a possible £18m takeover offer from American Robert Sarver, saying it undervalues the Ibrox outfit.

But the board has invited the owner of the Phoenix Suns basketball outfit to invest in the Scottish Championship club along with other shareholders.

The news comes the day after football chairman Sandy Easdale loaned the club £500,000 to avoid a winding-up order.

And RIFC admits that it will require further funding by the end of January.

"The directors are in discussions with Rangers' significant stakeholders with a view to arranging finance for the club," said a statement to the Stock Exchange.

"This is likely to comprise loans in the short term and possibly equity in the medium term.

"The board has invited Mr Sarver to consider participating in a similar discussion alongside other supportive shareholders."

Sarver, a 53-year-old banker by profession, purchased a majority ownership in the Phoenix Suns' National Basketball Association franchise in 2004 and also owns the Phoenix Mercury women's basketball club.

Rangers revealed that his plan for the Glasgow club involved the American buying 100 million shares at 18p per share - below the current share price of 26p.

"While the directors welcome Mr Sarver's approach, they believe that, notwithstanding the current financial difficulties, the proposal does not adequately value a controlling interest in the company," said the RIFC statement.

"And, accordingly, the resolution to approve the placing is unlikely to achieve the 75% majority required.

"The directors do not intend to hold the general meeting, which would be necessary to implement the proposal."

Sarver made his approach in December, but the news only broke in the media on Sunday and it was followed by Rangers appointing Sports Direct executive Barry Leach as their finance director.

Leach heads brands at Mike Ashley's sport retail business, the Newcastle United owner's associate, Derek Llambias, having already been installed as chief executive following his £2m loan to the Scottish Championship club.

In a separate Stock Exchange statement, Sarver stressed that his approach for Rangers was a serious one.

"I'm looking forward to building a consensus amongst supporters and prominent Rangers-minded figures who have the long-term success of the club at heart."First and foremost, I believe what the club needs today is a very quick, major injection of capital to stabilise things and I can give the Rangers supporters a categorical assurance that I have the resources and ability to get this club back to its elite level," he said.

"I've had detailed research carried out on Rangers and I'm convinced that we could take it back to the top of the Scottish game on a stable and sustainable basis."

Sarver also explained that his interest was ignited by a conversation with former Rangers defender David Robertson, who is now based in Arizona.

"My three sons all play soccer, as we call it here in the US, for Davie's club," he said.

"Initially, I'd had some of my advisors examining potential investments in teams in the English Premier League and in Spain, but Davie encouraged me to take a close look at Rangers."

Robertson, who played 245 times for Rangers over six seasons and was part of the side that won nine titles in a row, added: "I can tell every Rangers fan in Scotland and abroad, if Robert Sarver is successful in becoming part of the club, he'll not rest until they are back on top again."

 

Davie 'I'm really a Dons fan' Robertson. Get tae fuck.

[Bebo]

How the fuck can £18m for a controlling stake undervalue the club?! They're mental to decline it.

Let's break it down.

 

Share Price (23.10) x Share's in issue (81.48m) = £18.9m

 

 

So, £18m is literally how much the company is worth by the market.

 

A controlling stake doesn't necessarily have to be 51%, but let's use it anyway. The American was offering what the entire club is worth just for 51% ownership. Yet the board here are saying that the offer "undervalued the club", The offer itself was a massive overvaluation!

 

A club which cannot even get though January without an emergency loan is totally worth more than its market cap. Sure. Ok.

 

They really are living on planet hun.

[barassie_afc]

The sevco brand is valued @ £17m on the balance sheet unless i am mistaken, so i guess if he offered around £30-£35m they might consider it....

[fine-n-dandy]

But he would effectively be getting at least TWO clubs if he bought them

[Bebo]

The sevco brand is valued @ £17m on the balance sheet unless i am mistaken, so i guess if he offered around £30-£35m they might consider it....

 

I wouldn't trust their balance sheet. They have a tendency to overvalue their fixed assets.

 

Murray Park and Ibrox were once valued at £120m in one of their previous balance sheets.

[barassie_afc]

aye they are , and have been technically insolvent for a wee while

[fine-n-dandy]

 

I wouldn't trust their balance sheet. They have a tendency to overvalue their fixed assets.

 

Murray Park and Ibrox were once valued at £120m in one of their previous balance sheets.

I think they must have added all the up keep costs over the years.

 

Great news cos it means my wife's 10 year old wreck of a car is actually worth about £25k. (texting we buy any car now)

[SheepieBaaBaa]

He just wanted to own two teams called the Phoenix Sons and the Glasgow Huns.

[Jocky Balboa]

Interesting article from Wings:

http://wingsoverscotland.com/the-neerday-game/

[Scotty_Toronto]

He just wanted to own two teams called the Phoenix Sons and the Glasgow Huns.

 

The Phoenix Rangers mair like.

[SheepieBaaBaa]

The Phoenix Rangers mair like.

Aye, but that doesn't rhyme with huns.

[Macski]

I see they've just received the 200k they were owed for Telfer. That'll help them for a week or so.

[dj_bollocks]

I see they've just received the 200k they were owed for Telfer. That'll help them for a week or so.

 

Be lucky if it pays for the half time cake for Ian Black...

[Dom Sullivan]

See they have appointed a new Finance Director by the name of Leach.

 

Another leech in charge of finances at Ibrox.

 

You couldna make it up!

[dervish]

Was looking through an old hard disk and spotted this. For clarity it's not mine they own it and I did not make this up for laughs.... It's the original Sevco share offering presentation. It's just all amazingly cringe, retard level powerpoint as well (p9 is good "Creating a sustainable business model which will reflect the Club’s status in world football." basically slating "oldco").

 

p12...

 

Catalyst For Change

 

Potential restructuring of Scottish football

Possible introduction of ‘colts’ teams – following the Spanish model

May allow Rangers and Celtic freedom to break from National Association in due course

Could see Rangers progress faster through the domestic league structures

Prepares Scottish Football for a new future (*what the fuck does this bit mean?)

 

p18

 

Summary

 

Profitable business model using prudent assumptions

Return to top division and previous levels of revenue generation alone will drive appreciation in value

Significant opportunities for expansion of commercial and broadcasting revenues

FFP changing the face of football; Rangers to remain free of bank debt and, with large fan base, in strong position to benefit

Anticipated overhaul of Scottish football, potential expansion of European football

Appetite for content fuelling demand for live sports

Football club valuations to reflect position as global marketing platforms with unparalleled consumer reach

https://www.dropbox.com/s/wr6ttgjd8m5ju3i/Rangers%20Presentation%20Final%20121112.pptx?dl=0

 

[Scotty_Toronto]

Aye, but that doesn't rhyme with huns.

 

Yes, I get that.

 

(It was my 'new club' jibe.)

[Tord31]

So who is it we have to thank for completely fucking them? Aye I mean this new lot. Am guessing its Chuckles. What a lad, what a hero.

 

Just a reminder:

 

Major honours won by sevco = zero

Last major honour won by any team wearing blue at Ibrox = May 2011

 

Feels good

[StandFree1982]

 

 

Rangers rejected American Robert Sarver's £18m buy-out offer but then asked the banker for a short-term loan to help them out of their financial troubles. (Star)

 

You couldn't make that shit up.

[Henry]

"Rangers" assure the SPFL they won't go into administration.

 

Glad we can put that one to bed.

[a don in oz]

Never mind not going into administration how long have they been trading while insolvent? They have had to have what... 3 emergency loans this season? We find out the latest one was to stop them being wound up? They're trading while insolvent. Why the hell are they still allowed to continue?

[Pudgie]

Apparently Zaliukas has been out since October due to being in rehab! I know I've said being a hun would drive you to drink but...

[Red Dragon]

http://www.inhouselawyer.co.uk/index.php/insolvency-and-corporate-restructuring/9951-wrongful-trading-the-benchmark-for-directors-duties-recent-developments

 

The first point to note is that the company must be in liquidation before a wrongful trading (trading while insolvent) claim can be brought against directors: that is because the only person who can bring a wrongful trading claim is the liquidator².

[Herouali0]

MONDAY, 05 JANUARY 2015 16:18 Rino To Return For FernandoWRITTEN BY NEIL SMITH

ITALIAN legend Rino Gattuso is just one of several big names who have recently confirmed they will take part in Fernando Ricksen’s highly-anticipated Tribute Match on Sunday 25 January 2015.

Gattuso will play in a Rangers Select side alongside the likes of Stefan Klos, Barry Ferguson, Ronald de Boer, Marco Negri, Jorg Albertz, Thomas Buffel and Michael Mols but they will face a tough test against Fernando’s All Stars on their return to Ibrox Stadium.

Included in this squad are former England stars Teddy Sheringham, Darren Anderton, Matt Le Tissier and Des Walker and former Holland internationalists Kevin Hofland, Denny Landzaat, Paul Bosvelt and Kiki Musampa.

Dane Kenneth Perez and former Rangers players Ronald Waterreus, Mark Falco and James Beattie will also feature for the All Stars side with more big names expected to be announced soon.

Ricksen, of course, confirmed last year that he had been diagnosed with Motor Neurone Disease and all profits from the game are being split equally four ways between Fernando, his daughter Isabella, Motor Neurone Disease Scotland and the Rangers Charity Foundation.

Tickets are priced £12 for adults, £8 for concessions and £5 for children and can be purchased from the Rangers Ticket Centre, the Hotline on 0871 702 1972 (option 1) and www.rangers.co.uk.

Family tickets are also available for £30 for two adults and two children. Please note Fernando's Tribute Dinner on January 24 is now sold out.

The players confirmed to play on January 25 so far are as follows:

RANGERS SELECT
Michael Mols
Arthur Numan
Jorg Albertz
Bob Malcolm
Alex Rae
Thomas Buffel
Ronald de Boer
Bert Konterman
Marvin Andrews
Michael Ball
Peter Lovenkrands
Marco Negri
Nacho Novo
Stefan Klos
Barry Ferguson
Tugay Kerimoglu
Russell Latapy
Rino Gattuso
Andy Goram

FERNANDO’S ALL STARS
Ronald Waterreus
Dave Beasant
Teddy Sheringham
Darren Anderton
Matt le Tissier
Des Walker
Mark Falco
James Beattie
Kevin Hofland
Kiki Musampa
Denny Landzaat
Paul Bosvelt
Kenneth Perez
Pedro Ricksen
Gino Facenna
Rick Geenen
Evgeniy Levchenko

Tagged under

• Fernando Ricksen

[Henry]

If I worked for Motor Neurone Disease Scotland I'd be asking for a extremely detailed breakdown of the cash split on this game.

 

The old Rangers pocketed the money from a charity game did they not?

[StandFree1982]

It was the majority of these players that caused the Financial collapse of Rangers in the first place.

It will be ironic that the huns will be clapping and singing their names while watching this lot when they have killed the club with the extortionate wages and fees.