Well, that’s that then!
Although the destination of the Close Season Cup was never in doubt, the Takeover Trophy had been in the balance for several weeks.
Of course, there will be much Herrenvolk fist pumping at the stadium John Brown played for, and that’s just the journalists.
Dear reader, this is a day to keep the receipts.
In a parallel universe, there is a functioning Fourth Estate on Planet Fitba.
Here are the questions they’re asking in that dimension:
Is this deal funded by borrowing?
If so, what is the extent of the leveraged buyout?
Will this financial arrangement squeeze the budget for the incoming manager?
What price was offered for the RIFC shares?
Was it 5p per share?
Will there be an understanding between The Rangers Football Club and Leeds United about Next Gen players from Elland Road getting game time in the SPFL?
For the avoidance of doubt, please do not expect to see any of those pesky questions being asked of the new regime or the continuity CEO, Paddy Stewart.
The Ibrox klanbase with their sugar daddy issues wouldn’t want to hear about them anyway, as the featured image is what they’re fixated on today.
Ironically, a decade after the Off Licence Putsch, the new Stateside regime is remarkably similar to the one ousted by Mr King and his quintessentially British associates in 2015.
Ashley’s guys, Llambias and Leach, had a clear remit:
Sustainability.
That pesky “S” word was used in the first paragraph of the press release today.
A Sevco run on a sustainable basis is simply the second best.
Dear reader, don’t expect any of the local media to point out that inconvenient fact.
What’s to stop Rangers and Leeds swapping players with zero fee going between either club? Another way around UEFA FSR rules?
Well for starters Steff, “Rangers” died in 2012 and therefore ceased to exist.
Iteresting point though!
They we lap up the news like a kitten and a dish of milk
“Success on the pitch and sustainability” ,I bet the old regime wish they had thought of that one, but there you go, if they had only known it was that simple. BTW was there any mention of how they are going to achieve these goals?
The happiest people in this deal are those that sold their shares at a price way above their street value. If there isn’t immediate success the toys will be coming out the pram again . Just as an aside what happens if both Leeds and Rangers* qualify for the same competition in Europe?
Most of the sevconians think that the £20m cash injection is just the start of good things to come, the next manager will get substantial funding for new players UEFA’s FSR doesn’t seem to apply to sevco or their support and as you say Phil the Scottish sports so called journalists won’t rock the sevco boat.
This wee statement intrigues me greatly
“Thornton added: “I also want to acknowledge our major shareholders whose backing has brought the club to this point, the vast majority of whom have chosen to reinvest in the club and continue with us on the next stage of the journey.”
So rather than buy out the existing major shareholders have they simply reached an agreement with them to support the consortium?
20 million to be made available for squad investment this summer….following a share issue. Other people’s money. I’m sure the gullible will be lining up to spend their last dime
I had thought they had said the 20M was for “Football Operations” and not solely squad investment?
Consortium……reminds me somewhat of Only Fools and Horses.
This time next year Billy, we’ll be squillionaires
Leveraged buy out !Think man utd !! and look at the state they are in now financially if more debt is piled on sevco how can they survive ?
Hi phil .. why would they buy 51% in shares.. then have a share issue and diluting the percentage of shares they already bought 🙄 i don’t get it mate.. also don’t they have billions to invest 🤔 without a share option
They will buy the shares. Upping the percentage they own and putting capital into the club to allow them to spend some money on players. It only dilutes their percentage if others outside the consortium buy the shares