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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

    In Whose Interests
    Good point JJ @20.59 If he was told to sign Kent for the reported 7m then his position and judgement are being undermined, he must also question why those same funds weren't made available to him earlier for players HE actually wanted . It's now stated he is leaving for family reasons and to explore new opportunities which is a standard excuse given . I would be surprised if he hasn't had some payoff even if it's for a non disclosure agreement deal. 


    In Whose Interests
    News just in from @Chris-Jack89 that Mark Allen has left his role as Director of football at Ibrox. Is this the start of an exodus before the shtf.


    In Whose Interests
    I am currently residing in Belgium and have done for over 11 years , I was in Germany before this for 5 years and had a season ticket for FC Twente Enschede in the Eredivisie as I preferred Dutch football to German . The infrastructure in the NL and Germany is excellent and has contributed to their high levels of success over the years , Belgium in comparison despite the success of its national team has invested little at grassroots level . Sometimes nations just hit a purple patch due to a handful of decent players. I have always thought the Belgians were over rated and carried by Hazard and Courtois in particular . The quality of the Belgian league is slightly better than the SPL overall but I believe Celtic would win it if in that competition. The one similarity to Scottish football came at my local club RAEC Mons who declared bankruptcy in 2015 and whose assets were sold and returned to the lower leagues as RAQ-Mons….. if only they had a spare holding company , an incubator and some spare succulent I could still be watching the original club*

    https://en.wikipedia.org/wiki/R.A.E.C._Mons


    Tangled Up In Blue by Stephen O’Donnell (Book Review)
    I think you are probably right Ex L ,for one he shouldn't need the compensation money and 2 if he did it may be a bill too far for King to manage. He has a reputation he would want to protect and although the SMSM would ravage him on Kings' instruction their English counterparts would come to his aid. His backroom team may not be so fortunate to have that choice and may have to stick it out . I suspect Gary McAllister would step up rather than step out ,but we have seen this movie before.


    Tangled Up In Blue by Stephen O’Donnell (Book Review)
    "How are Rangers* paying for this?"  The short answer is they're not ,tis the mug punter who will have his pockets shaken but King who will step up to take the plaudits if it pays off. Going to the casino with other peoples money then declaring yourself a genius if the ball does land on 55* is as glib and shameless as it comes.Charging 99p to watch an interview with a player that's been bought with a massive increase in ticket prices takes a special kind of arrogance. I can almost guarantee Kent will be subject to mysterious overseas bids upwards of 20m by the time the January window opens. If  the teams in 4th and 5th can prevail over the teams in 11th and 12th and 3rd place Livi can win at Ibrox in the next round of games then Gerrard will find himself in 5th spot after 5 games and 6 pts adrift of Celtic (if they can beat Hamilton) . Is that stretching the imagination too far ? I don't think so . The honeymoon period is over for Gerrard and he was given far longer than the previous managers , they simply have to live up to the hype now which considering the level5 of hype won't be easy. 

    As for Mark Allens' claim of being on a sound financial footing the often misquoted words of Mandy Rice Davies " well he would say that wouldn't he" would seem an appropriate response. It does tend to contradict the claims made in court about struggling to pay Ashley anything over 1m  and the earlier claim about the impecunious Chairman, the same Chairman who had guaranteed the auditors he would fund any shortfall. 

    "We can't jail 50k people" an excuse used to allow the continuation of the sash bash at Ibrox by the blazers. Uefa have however shown exactly what does work . Maybe there is light at the end of the tunnel , no hiding places now.