Ashley takes over Rangers?

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This sounds
Horace Cope said:
Apparently Rangers have a lot of people on high wages and watertight contracts that are costing them all this money per month, which is why they keep struggling to pay their wage bill unless they get a loan / share ownership. Now that Ashley is owed 2 million he is their major creditor so he can call in the administrators and get the club liquidated (again) as insolvent. Then if he wants to he can start again from fresh or if someone else wants to start again he has ownership of enough assets to be able to dictate whatever he wants for them.

He's only allowed to own 10% of an SPL club if he owns another club it is an SPL specific rule that was brought in after mad Romanov. Those patsies he's getting put on the board are only there to push the button when he says to put it in admin. I wouldn't be surprised if he's trying to get ownership of the ground on the cheap before he does it. Then if someone tries to bring them back he'll own the name, the badges, the naming rights to the stadium and whatever was used for securing the loan was it the car park and training ground? He loves a gamble he's probably already worked out at worst he can break even from flogging stadium naming rights, the badges back and the land that he'd get if they go under.
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Most likely. Take over the assets which aren't losing money like the stadium name, badges and branding and sit on them.

The rest can wither on the vine then Mike can start afresh with a pop-up club which will grow as they go up the leagues and hopefully get into Europe.

If that doesn't work out, he still has stadium naming rights and whatever branding he can get his mitts on to sell cheap sportswear with huge margins. Difference with Newcastle is this time he's in no hurry.
 


ilovehorswill said:
This sounds

Most likely. Take over the assets which aren't losing money like the stadium name, badges and branding and sit on them.

The rest can wither on the vine then Mike can start afresh with a pop-up club which will grow as they go up the leagues and hopefully get into Europe.

If that doesn't work out, he still has stadium naming rights and whatever branding he can get his mitts on to sell cheap sportswear with huge margins. Difference with Newcastle is this time he's in no hurry.
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Think of all the gear Ashley will shift in his lovely shops.
 
BDI said:
Is Charles Green still involved with sevco?
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Sons Of Streuth's Craig Houston: "In February 2012, he (Llambias) was introduced to our fans at a meeting by Charles Green to explain why changing the name of your stadium wasn't actually that bad an idea. I find it bizarre that of the thousands of people who could be directors of our club, we again find one with a connection to Charles Green."
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Funny how people still think that you can´t own several clubs.. What you can´t do is having them playing in the same competition.

As for Ashley I´d say that he´s in control at Ibrox now, his old crew is moving in I noticed (Lambias etc).
I can see a scenario where debt is swapped for equity giving him a majority shareholding anytime he likes.
But as for what plans he got he´s silent.

BDI said:
Is Charles Green still involved with sevco?
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Don´t make me laugh, Ashley is not having any possible rivals that close... :cool:
 
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peil said:
Green has what is referred to in the accounts as an Onerous Contract - he owns the badge/branding and leases it back to the club to use :lol:
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I think you have to look no further than to Mike Ashley..

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SPORTS Direct billionaire Mike Ashley is poised to take control of the rights to both of the famous Rangers emblems.
The Newcastle United supremo has come under increasing scrutiny over his influence at Ibrox after manoeuvring to take effective control of The Rangers Football Club Ltd (TRFC), a subsidiary that holds the club retail rights.
It has emerged his hold over TRFC gives him effective control of Rangers Retail Limited, which has an exclusive licence to use both Rangers crests - including the famous "Ready" logo - on merchandise.
The firm was jointly set up by Mr Ashley's Sports Direct and the club. TRFC has control of Rangers Retail, with 51 per cent of the shares against Sports Direct's 49 per cent, while both had two directors in the boardroom. The TRFC representatives, Graham Wallace and Philip Nash, have resigned from the Rangers International Football Club plc board and all subsidiaries, including Rangers Retail.
Two of Mr Ashley's representatives are expected to replace Mr Wallace and Mr Nash on the TRFC board, whose chairman is Sandy Easdale, an ally of the magnate.
It has emerged that TRFC licensed the badges for use exclusively by Rangers Media Limited earlier this year. This gives permission for use of the crests on items including clothing, car accessories, hair products, luggage, home furnishings and footballs, jewellery, golf equipment, stationery, flags, calendars, gifts and confectionery.
The rights relate to the RFC Scroll crest and the circular "Ready" crest.
Amended trademark documents reveal the licence representatives are IBML Legal, part of Sports Direct's licensing division.
It was responsible for acquiring sporting brand names including Slazenger, Dunlop, Lonsdale, Everlast, Kangol, Karrimor, No Fear, Lillywhites, Donnay and Carlton.
 
MCFC said:
I think you have to look no further than to Mike Ashley..

"
SPORTS Direct billionaire Mike Ashley is poised to take control of the rights to both of the famous Rangers emblems.
The Newcastle United supremo has come under increasing scrutiny over his influence at Ibrox after manoeuvring to take effective control of The Rangers Football Club Ltd (TRFC), a subsidiary that holds the club retail rights.
It has emerged his hold over TRFC gives him effective control of Rangers Retail Limited, which has an exclusive licence to use both Rangers crests - including the famous "Ready" logo - on merchandise.
The firm was jointly set up by Mr Ashley's Sports Direct and the club. TRFC has control of Rangers Retail, with 51 per cent of the shares against Sports Direct's 49 per cent, while both had two directors in the boardroom. The TRFC representatives, Graham Wallace and Philip Nash, have resigned from the Rangers International Football Club plc board and all subsidiaries, including Rangers Retail.
Two of Mr Ashley's representatives are expected to replace Mr Wallace and Mr Nash on the TRFC board, whose chairman is Sandy Easdale, an ally of the magnate.
It has emerged that TRFC licensed the badges for use exclusively by Rangers Media Limited earlier this year. This gives permission for use of the crests on items including clothing, car accessories, hair products, luggage, home furnishings and footballs, jewellery, golf equipment, stationery, flags, calendars, gifts and confectionery.
The rights relate to the RFC Scroll crest and the circular "Ready" crest.
Amended trademark documents reveal the licence representatives are IBML Legal, part of Sports Direct's licensing division.
It was responsible for acquiring sporting brand names including Slazenger, Dunlop, Lonsdale, Everlast, Kangol, Karrimor, No Fear, Lillywhites, Donnay and Carlton.
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It's a touch more complicated.
The badge with the interwoven RFC and 5 stars is wholly owned by a offshore company owned by Charles Green and 2 of his mates. They license it back and charge money on every thing that shows it
Logon or register to see this image

The badge with the football motif and READY has shared ownership between TRFC and Charles Green's mob
Logon or register to see this image
 
I´m fairly sure that Ashley got that front covered, it´s simply not anything he would miss.. :cool:
 
MCFC said:
Funny how people still think that you can´t own several clubs.. What you can´t do is having them playing in the same competition.
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While it is perfectly fine to own say 100% of Sunderland AFC and 100% of Udinese under UEFA rules it is different in the SPL due to a rule that they have introduced.

If you own 100% of another football club the maximum stake you can now have in an SPL club is now 10%. Ashley is at 9.8% at Rangers and with the share price being so low it is pointless buying any more shares to take him to the 10% mark. So to get around it he is loaning them money to gain more influence of the club and bend the SPL rules not the UEFA rules.

The SPL are spineless though, so they will turn a blind eye to this rule bending or they will relax the rule to let him increase his percentage and save Rangers, which they foolishly believe will save Scottish football once they are back to their best.
 
Horace Cope said:
While it is perfectly fine to own say 100% of Sunderland AFC and 100% of Udinese under UEFA rules it is different in the SPL due to a rule that they have introduced.

If you own 100% of another football club the maximum stake you can now have in an SPL club is now 10%. Ashley is at 9.8% at Rangers and with the share price being so low it is pointless buying any more shares to take him to the 10% mark. So to get around it he is loaning them money to gain more influence of the club and bend the SPL rules not the UEFA rules.

The SPL are spineless though, so they will turn a blind eye to this rule bending or they will relax the rule to let him increase his percentage and save Rangers, which they foolishly believe will save Scottish football once they are back to their best.
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You mean SFA, not SPL... As for the 10% rule it´s not valid under Uefa rules really but more or less an agreement between MA and SFA.
But debt (as you pointed out) can be used in lieu of shares, might even be converted to shares to control any entity.
 
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