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Started By
Message
Mike Ashley take over of Rangers is going down
Posted on 10/24/14 at 11:29 am
Posted on 10/24/14 at 11:29 am
LINK
side note during the Sky interview outside Ibrox some dude just moon'ed the camera
quote:
Sky Sports understands that Mike Ashley is proposing an emergency loan offer to Rangers in exchange for a guarantee of positions on the club board.
At the same time, finance director Philip Nash has resigned from the board - Nash was one of two executives whom Ashley had demanded be removed before he stepped up his involvement in the club.
The move comes after former director Dave King failed to reach an agreement with the Rangers board over a proposed £16m cash injection into the Scottish Championship club.
And just to add to the confusion it appears Sale Sharks owner Brian Kennedy, who tried to rescue the club from administration, has launched a counter offer to Ashley's.
side note during the Sky interview outside Ibrox some dude just moon'ed the camera
This post was edited on 10/24/14 at 11:31 am
2
Posted on 10/24/14 at 11:40 am to StraightCashHomey21
Dude is just on a rampage to ruin every club in the union.
Posted on 10/24/14 at 11:43 am to BleedPurpleGold
But if he invest like he did with Newcastle, Rangers would be unstoppable in Scotland. 
Much safer, same thing but safer bet. Big loyal fan base, big stadium. Cash cow is still there.
Much safer, same thing but safer bet. Big loyal fan base, big stadium. Cash cow is still there.
Posted on 10/24/14 at 11:49 am to StraightCashHomey21
I'd cry if he bought a club I supported...
Posted on 10/24/14 at 11:50 am to StraightCashHomey21
Admin incoming 
ETA: More lol
ETA:
Zombie boards are melting down.
ETA: More lol
quote:
Dave King Statement
I have been asked to make a personal comment on the rumour that the Rangers board is considering a loan from Mr Ashley. I don't see the offer of a short term loan by Mr Ashley affecting me in any way. Our offer is for a long term permanent solution that can take the club forward and unite the fans and the board for the first time in many years. The board is in the final stages of reviewing our offer and I expect a definitive answer early next week. Frankly, it doesn't seem possible that the board can do anything other than recommend it to shareholders given the dire financial circumstances and the fact that no other long term solution is on offer. Mr Ashley's involvement (and recently announced continued commitment) with Newcastle precludes him from making a similar offer of long term permanent equity.
What Mr Ashley can do is attempt to increase his vice-like grip on the Rangers brand by improving his retail position as a condition for supplying short term debt to tide the club over until our permanent funding is in place. But I know that there are other investors also willing to provide bridging finance. The board will therefore not have to accept punitive terms even if Ashley attempts to oppose them. We must remember that the board is ethically and legally bound to act in the best interest of the company and all shareholders. Ashley can not expect preferential treatment and will not get it. I am confident that Graham Wallace and Philip Nash have enough integrity and commercial experience to do the right thing.
ETA:
Zombie boards are melting down.
This post was edited on 10/24/14 at 11:55 am
Posted on 10/24/14 at 11:51 am to TFTC
Yea in the EPL but in the SPL
He can literally keep his cheap ways up and dominate the league.
He can literally keep his cheap ways up and dominate the league.
Posted on 10/24/14 at 12:25 pm to TN Bhoy
quote:
TN Bhoy
You just get more unbearable as more and more Rangers and Celtic (you're the only one who posts about shitty Celtic) threads pop up.
Posted on 10/24/14 at 12:50 pm to TN Bhoy
(no message)
This post was edited on 10/24/14 at 1:34 pm
Posted on 10/24/14 at 1:36 pm to PeepleHeppinBidness
quote:
Why?
They're an economic basket case loaded with massive contracts for shite players and a shite backroom staff. They've also already amassed a sizable amount of debt.
This post was edited on 10/24/14 at 1:39 pm
Posted on 10/24/14 at 1:38 pm to TN Bhoy
Thanks, I get what you're saying now. Misunderstood your initial comment 
Posted on 10/24/14 at 1:44 pm to PeepleHeppinBidness
quote:
Thanks, I get what you're saying now. Misunderstood your initial comment
Another thing that must be realised with this thread is that this isn't a takeover in the sense of Ashley buying them. Ashley is offering a short-term loan to allow them to continue on past November in exchange for control of the board.
This post was edited on 10/24/14 at 1:45 pm
Posted on 10/24/14 at 2:06 pm to TN Bhoy
quote:
They're an economic basket case loaded with massive contracts for shite players and a shite backroom staff. They've also already amassed a sizable amount of debt.
Which is about to be all bought out
Rangers on the come up
only reason you are acting this way is b/c you are scared.
Posted on 10/27/14 at 7:48 am to StraightCashHomey21
quote:
Mike Ashley has effectively taken control of Rangers following the resignation of chief executive Graham Wallace.
quote:
The London Stock Exchange has confirmed that Ashley's £2million emergency loan offer has been accepted.
One of the conditions of the loan was the resignation of Wallace and Ashley's deal will allow him to choose two directors to replace Wallace and Philip Nash, who also left the club on Friday.
The Stock Exchange statement said: "Rangers announces that Graham Wallace, chief executive officer, has resigned as a director and employee of the company and its subsidiaries with immediate effect.
"The directors would like to thank Graham for his contribution to the club during a difficult period.
"The board has commenced the search for a chief executive officer. A further announcement will be made in due course."
Ashley, owner of Premier League Newcastle, already owns an 8.92 per cent stake in the club and will now enjoy greater influence within the club. His £2million offer is believed to include a zero interest facility, with the potential to draw down unlimited funds.
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