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    Comment on Bad Money? by Timtim.

    I cannot think of any reason other than FFP that would have made King convert his debt to equity . The numbers that EJ has laid out are staggering , even after all this expense they are still in a potentially catastrophic situation .  

    Timtim Also Commented

    Bad Money?
    Would any sane businessman (or woman) buy this operation with the history of characters that have been involved? Who knows what onerous contracts lie under the bonnet . The retail one that we do know of is toxic enough and I doubt Ashley will release his grip just because King has departed. The stadium issues are shrouded in mystery as regards claims on the title not to mention the hinted at roof problems (all gone quiet on that one) asbestos in the main stand and the rebars that seem to be holding it together . It is very interesting to note that King has not traded his debt for equity , where it puts him in the queue if there is an admin I'm not sure but getting something must be better than holding worthless shares in a bankrupt company. If significant revenue isnt brought in via the transfer market and/or they fail to make the Europa Group stage then things could worsen rapidly

    Transfer window closes EPL- August 8 ECL- August 6 Spain, France +Germany -Sept 2 Italy-August 18 MLS- 7 August Portugal- September 22 – SPL -Sept 2

    Aug 8/15  Europa 3rd stage – Aug 22/29 Europa 4th stage

    further diary dates are Aug 16th for the 450k payment and Sept 23 for decision on damage amount. I don't know how things will pan out but I do know that if I was a creditor I would want my money asap.

     


    Bad Money?
    It is said that a recession is when your neighbour loses his job and a depression is when you lose yours. Living in Euroland and looking across the sea it looks like my neighbours are (if the Bank of England are to be believed) heading for a recession. In the good old days the football industry was one of the few business' that benefited from hard times as people took to the terraces to vent frustration and lose themselves for 90 minutes from the harsh realities of life. That of course was when it was affordable to do so . Recession of course doesn't just affect the man on the street ,they affect the businessman as well and more importantly as far as this subject is concerned their ability to fund shortfalls in hard times. When bad news homes into view in the football world the squirrels are released to divert attention to, for example, China . In the murky world of politics and finance squirrels tend to take on a far more menacing appearance like Saddam, Assad , Gaddafi etc . The current dispute with Iran and the ratcheting up of war talk is more by design than accident . Those who are aware of General Wesley Clark's warning of the plan to take out 7 countries in 5 years starting with Iraq then Sudan Somalia Lebanon Libya Syria and finally Iran realise how cold and calculated these events are planned and executed. It is here I have to apply my own brakes before diverting into a rant on 9/11. But back to the plan , those who fail to plan ,plan to fail . Does Dave have a plan ? Not in my opinion , evidence would suggest he has knee jerk reactions to events . How do economies collapse ? Well they say very slowly at first and then all of a sudden. The current economic woes have been festering since pre 2008 when we were informed we were just 2 hours away from total global collapse , I believe we didn't fix anything then but merely kicked the can and we are now in cul de sac territory. This won't just affect the UK , Deutsche bank is in a precarious position and will be Lehmans X10 if it collapses , the contagion and domino effect will be global . Those living on credit and in debt will be the first casualties and when the sharks smell blood it's time to get out of the water. 

    best wishes

    Private James Fraser , Funeral Director.


    Bad Money?
    So , there we have it, any club interested in buying Alfredo will need to offer him more than 10m a year while stumping up 15m in transfer fee. This has been a Shoot Yersel In the Foot production from level 5 . Part of Alfredo's problem is he believes the hype but cannot match it on the park leading to frustration and lashing out. 


    Recent Comments by Timtim

    Celtic’s Questions to Answer
    bigboab @ 22.15

    The Rangers Football Club, formed in 1872, is……. not was (past tense) so without doubt they are saying that the club formed in 1872 is the club that the holding company run. 

    On the tax issue , it did occur to me that the reason they were attacking HMRC was because they had a current issue with taxation which considering their history would be the last people you would want to avoid paying then I reminded myself who the Chairman was and how it is almost in his DNA to try and avoid paying taxes. If there is an issue and HMRC now come knocking then the victim card is already half way down his sleeve. 


    Celtic’s Questions to Answer
    Maybe they (the new Company that owns the old club) have dug a hole for themselves here. The new Company in its IPO did declare (or at least intimate) that they were the same club as the 1872 version and as has been said the "club" indemnified the EBT recipients for all tax demands . That leaves them 2 options , pay the tax (won't happen) or declare they are not the same "club" . The problem with option 2 is that they did declare to be in the IPO which misled investors as JC has pointed out by letter to the relevant authorities. Wouldn't it be lovely if they were forced to admit publicly that they were a new club and although they bought all those titles for £1 they cannot add any future trophies won by the new club to them. 


    Celtic’s Questions to Answer
    @macfurgly 13.22

    the signature is of Douglas Odam  the finance Director

    @StevieBC 13.22

    No dispute there 


    Celtic’s Questions to Answer
    Glib and Shameless Premier League  Update

    1- Dave King

    2- Prince Andrew

    3- Boris Johnson

    4- Donald Trump

    5- David Murray

    6- Bill Clinton

    7- OJ Simpson

    8- Jim Traynor

    9- Tony Blair

    10- Richard Nixon

    An absolute car crash of an interview last night with more than a few fibs thrown in but what was even more appalling is the BBC aiding and abetting this establishment figure in an attempt to wriggle out of a criminal situation. When will our media do the job we pay them for ? 


    Celtic’s Questions to Answer
    The Club* refers to the Rangers football club PLC which is the Company (yes I Know) who are currently being liquidated . The fact it was printed on Company notepaper will allow them to claim it was the Company who indemnified them. Any lawyer acting for the players should try and use the club* aspect to hold RIFC to account but I doubt they would be successful . It was the club that was the company and not the club that was the club and incorporation doesn't neccessarily mean that the club is the company or vice versa unless it suits our purpose for it to be so . All clear ?