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15 Jan 2017 11:37:55
Peeps, where do we currently stand with the contracts with sports direct.

Is it stalemate for the next 6 yrs?
can we get out earlier then the 6yrs?

the rumours about underarm etc any truth

It seems to have all gone rather slow news wise.

Anyone in the know?

Agree0 Disagree1

15 Jan 2017 16:46:11
As I understand it. The SD contracts are due to run for the next 6 years. RIFC have given the required contractual notice to terminate at that point but have also taken SD to court to challenge the legality of the contracts. If successful then contracts would be terminated and if not they will have to be honoured.

I could be wrong but think this is right

15 Jan 2017 19:02:08
Mols, i have the same understanding from several individuals with corporate experience of commercial contract law, and their interpretation is that sports direct have a case that requires scrutiny and one they can win, now my background is criminal law enforcement and i know from experience that things that look a slam dunk, often get ****ed by some wide eyed barrister with a different agenda.
Rangers won't know their fate until the establishment decides to announce their fate.

16 Jan 2017 00:22:42
Iamnoboyscout

Your assessment is likely correct. I am no lawyer but have experience of fighting adjudication and arbitration proceedings in contracts and know that the results are never clear cut one way or the other.

Regardless of the result, Rangers have to gamble and take this action as the club is slowly being destroyed by these contracts.

17 Jan 2017 09:55:40
The ones that should be in court about these contracts are the directors that signed on behalf of the club. Always remember that they have a legal responsibility to act on the best interests of the company and it's shareholders. In this case they obviously signed for self gain, unless sd provided some sort of benefit to the company over and above the commission currently being shown in the accounts.
Apart from that I don't see Ashley's lawyers not covering their ass, and all will be above board. The fact that the terms are onerous and their is no exit clause for the company, would appear to be down to the the club directors that signed the contract.

17 Jan 2017 18:23:15
to billy b two words describe fatty LOAN SHARK he should be in jail with the rest of the sleazballs

17 Jan 2017 20:22:44
Truebluesotrue, we are all well aware of Ashley's type and their lust for money and power, but what our situation clearly shows that they can only succeed in their goal if the people who look after Ranger's financial interests are negligent.
My point being that the people who signed the contract allowing the terms that apply are culpable. In our case it has cost our club much needed millions and I do not know why they have not been taken to task by shareholders that lost money.

17 Jan 2017 21:11:22
billy b--and who do you think i was calling the sleazballs, not the shareholders, or to be honest some of them probably never voted to clear the way for a new share issue, some who signed the contracts still have shares in the club not up front but hidden

11 Jan 2017 13:38:38
To punter, that is the worst post iv ever read on here, to even think that Ashley would have been good for rangers is a joke, that guy is slowly destroying us, he's just sitting back collecting money he's taking from us, he's a disgrace that's doesn't give a damn about rangers or Newcastle.

I'm sure Newcastle owe him millions, he doesn't invest in clubs, he loans them money while heavily taking money from them, just look at the people he put on our board and the deals he done for himself, the mans nothing but a high end loan shark, and now we're stuck with him, but hopefully we will beat him in court soon, what a statement punter, you must be on his staff

Agree11 Disagree5

12 Jan 2017 14:14:20
Duke St loyal.

What happens if you don't beat him in court, is there a plan b in place, don't seem to have heard any thing from your board if they are forced to honour the contract and either pay compensation or buy out fees, and where is the funding for court costs that are likely to run into millions should rangers loose.

14 Jan 2017 01:44:35
I would have thought if you put money into something to earn more money is investing?

15 Jan 2017 08:35:17
correct iamno. ashley is hurting at king. his best legal team that a billionaire can buy is waiting to go over, whilst that's no guarantee that he will win, its maybe time to have a plan B. just in case.

i don't think MA will like to lose a 2nd time!

15 Jan 2017 13:24:19
Even if Ashley losses you can be sure he will be looking for grounds to appeal, this could go on for quite a considerable time, even if rangers win.

16 Jan 2017 19:54:54
Duke. i think you misread my post. Can assure you i'm nothing to do with ashley or anyone @ Rangers or any football club. just a Rangers fan that's starved of the good old days.

I wasn't trying to upset anyone. just thinking what if Ashley had won control of Rangers. where would we have been? better or worse off?

Sorry to up set you Duke. this site is all about Rumours and i was only thinking out aloud.

11 Jan 2017 10:40:22
Why not rename the ground from Ibrox Stadium to Ibrox Park, that should bring i some cash.

Agree0 Disagree1

11 Jan 2017 12:33:15
Who is going to pay money for that to happen.? Straw clutching at its best

11 Jan 2017 14:39:20
Who would pay money to have the ground called ibrox Park?

10 Jan 2017 20:46:33
If King hasn't got the money he should step aside and sell his shares 2 someone that's willing 2 invest in our team!

Agree2 Disagree1

10 Jan 2017 21:44:00
DK is trying to recoup his £20m he lost.

10 Jan 2017 22:40:24
@neil coulter - they would need to buy more than just DK's shares before investing. Who in there right mind would pump money into the club when they would own less than 15%?

11 Jan 2017 13:35:41
FFS, DK has got money to invest but cannot sensibly do it until the MA and CG shambles has been sorted out.

At least try to read up a bit instead of repeating the same old comments

12 Jan 2017 17:14:06
dave king gotmost of his money back through murray sports so much so liquidator would not acept his claim

12 Jan 2017 22:27:15
Well said Bigwull, it is time he was exposed for all HIS Colin Nish. Also one you will not like ---- dm, who sold the jersies, while covering his ass hole pals like dk.
The bulk of posters, on here, will soon realise how the arse has been ripped right out of them.

14 Jan 2017 11:01:54
Largebill

I am interested to understand how DK through Murray sports. This is something I was not aware of. Can you tell us the circumstances

Billyb

You seem to be more focussed or obsessed with supporters of DK being proved wrong rather than hoping that DK is what he says he is so that Rangers can begin to flourish again.

Surely we all want Rangers to be better but we all read the information available in different ways

08 Jan 2017 21:54:49
Guys, not having a dig here but a serious question to all you guys.
I keep seeing posts saying rangers need soft loans till end of the season and already owe about 10 million back or either in shares.

I still see signings being made either on loan or not, why does dave king not come out and tell supporters what's happening or do you think that he can't really say what's happening.

Agree1 Disagree1

09 Jan 2017 01:31:31
He has told everyone what is going on at the AGM. We the fans just don't want to accept that we are in such a poor place. The soft loans are his only option at the moment as he and other potential investors cannot do anything until the SD and MA litigations are sorted. He can only work within the RIFC constitution and financial regulations as he only has about 10% personally and 40% as a block with like minded shareholders.

Anything that he might be able to tell us will be limited as he still has an injunction from the court about what he can publicly say about the SD contracts and he will not want to prejudice or undermine his future court proceedings with the SD.

09 Jan 2017 12:44:35
well said Michael!
like a said before celtic don't matter as long as we can be better than the rest of the spl then it will come down to the old firms in which it doesn't matter who has a better side financially it will come down to two teams with a winning mentality which could go either way just like the old days.

09 Jan 2017 20:26:43
Dave King is helping to get foundation's in place at the club with the help of others so WHEN large investment goes into the club it will be from a position of strength and transparency with no one like Whyte Green Ashley Easdale etc trying to get their share we must rid our club of these men beforehand King n others have put in a lot of money just to bring the club up to a good standard but it is not at the Rangers Standard yet which will take afew years because of the purge of the last few years but make NO mistake we are on our road back and we're coming

08 Jan 2017 09:50:46
I seen a part of an article in the Herald about king selling off a financial arm of his business. Does anyone know how much he will get and do you think this could free up some of his paper fortune to invest more in the club?

Agree1 Disagree0

09 Jan 2017 12:45:15
heard absolutely nothing about this

05 Jan 2017 13:58:54
I know this is old news but has there ever been any information which confirms the shareholding of the 4 companies whose rights to trade shares have been suspended by the RIFC board (i. e. BluePitch Holdings, Putney Holdings, Norne Anstalt, ATP investments) who hold 10.4% of the shareholding.

Are they all still shareholders.

Agree0 Disagree0

05 Jan 2017 19:37:01
Mols, in club website is list of Major Shareholding (3% or above) :

The Company understands that its major shareholders are as follows
New Oasis Asset Limited 11,869,505 14.57%
George Alexander Taylor 7,575,000 9.30%
Mash Holdings Limited 7,265,000 8.92%
Alexander Easdale 5,256,110 6.45%
Douglas Park 5,000,000 6.14%
R and M Asset Management LLP4,704,827 5.77%
George Letham 3,299,515 4.05%
Rangers First 2014 CIC 2,865,487.

05 Jan 2017 22:08:00
Fd thanks I noted this earlier but the four companies I noted between them own 10.4% of RIFC but individually not enough to be listed. There collective 10.4 % is 8M shares or £2.2m of finance and was just trying to find out if they still retrained their shares or had sold them.

This all effects the voting at EGM Or AGM.

06 Jan 2017 10:32:08
Understand Mols, Ed are you able to shed light on this?

{Ed002's Note - I don't have any information to hand and I don't have anyone available to look in to it right now.}

01 Jan 2017 15:29:01
Just posting what could be very important news for our club fellow bears and to see if anyone has heard this! Just had a text there the now from a usually reliable source of 'gers information that rangers are poised to announce NB as our new kit manufacturers starting next season even though puma still has another year after this one to run with us!

Also that red bull will be taking over from 32Red as our new shirt sponsors again starting next season! Been told both deals will be announced late january or early february!

Agree2 Disagree7

01 Jan 2017 16:55:11
Just out of curiosity. Would any rangers fan buy a new strip if this happened? Obviously need to compensate puma or its another court case. Why would a company want to be sponsors if no strips were selling.

01 Jan 2017 18:04:40
We owe Ashley 5million 2 million to get out of puma deal no ones going to back us till this has been sorted out.

02 Jan 2017 10:03:42
I thought we paid Ashley his money and owe him nothing hence the 7 year notice period.

03 Jan 2017 10:25:15
If we went with new kit supplier can they agree not to stock kit in sports direct or is part of the agreement that whoever it is must use Ashley's mob?

09 Jan 2017 12:51:49
as far as I know we have paid the 5 million back to Ashley!
and puma will want out of this deal aswell as their name is being mentioned with mike Ashley so the brand is being dragged through the mud

08 Dec 2016 22:52:14
Does anyone know when the court hearing is regarding the club and mike ashley's sports direct? I know its sometime this month! Just hope it rules in dave king's favour!

Agree1 Disagree6

11 Dec 2016 10:53:07
Not too sure, but expect a few more years of tit for tat court cases. It ain't going to end soon, let's hope I am wrong though.

19 Dec 2016 14:10:48
if its gonny take a few more years then we may aswell forget the cases against him and just live out the rest of the 7 year notice that's in place and save ourselves money in court cases.

I just hope you are wrong and its settled before the start of next season.

23 Dec 2016 21:34:13
Whyte was in court and pleaded not guilty to his fraud charges, and is listed to appear in February 2017, in Edinburgh.
This case is where everything will unravel.
If green is found to have duped whyte, then you may find his tenure was illegal, then all deals were invalid and any other transaction would be dubious.

24 Dec 2016 14:32:56
Yep Billyb will be interesting how things unwind in court. I am confident that irregularities will be found and we will end thie season with off field clarity and in a stronger position. Happy Christmas.

24 Dec 2016 19:41:44
Note going to make a difference unfortunately. The court case relates to Whyte's purchase of the club from David Murray so no relevance to current set up.

25 Dec 2016 17:48:28
Happy Christmas ABHABH1. Have not seen you or your pal Mullad for a while.

26 Dec 2016 15:11:02
Cheers Fd. Happy Christmas to you too.

27 Dec 2016 16:04:29
Billy
The most likely outcome is what it always was going to be - Whyte guilty of false accounting.
Anything else is not capable of proof and any further court action would be in my opinion a waste of money.

28 Dec 2016 23:10:57
Not sure false accounting is included in the charges against him. Think it's going to be a really interesting trial. Murray already had a relationship with ticketus so that alone will be riveting.

30 Dec 2016 20:00:13
Stephen, I think you will be surprised at what comes out.
Interesting times ahead I am led to believe.

08 Dec 2016 00:45:44
Some of the comments about Dave King are unbelievably short-sighted.

The man along with Murray and co. brought us back from the brink of oblivion.

Patience is the key word - if we finish 2nd this year, it's another achievement/ milestone on what has been a tortourous journey.

Behind the scenes, King and his men are working tirelessly to get the club back to a solid, stress-fee foundation.

From that point onwards - Rangers can build, invest and enhance the brand.

There's no getting away from the fact that the Club's brand has been tarnished over the last 4/ 5 years.

So the general perception across the world is tainted - changing that doesn't happen overnight.

Fanbase.

Agree27 Disagree5

09 Dec 2016 14:48:41
Top post hammer.

 


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