Encounters of The Third Kind

The following is an excerpt from a comment that was posted on our board this morning:

” Regards the financial situation, I believe Dave King when he says loans are needed again. The loans from the Park family in particular have kept the lights on at Ibrox these last few seasons since King and former St Mirren supporter Murray forced their way up the marble staircase. Without these loans there would already have been another insolvency event on Edminston Drive. I own shares in Charles Greens’ club/company. These continued soft loans, that will never be repaid in cash, will eventually (if still a viable company is in operation) be “paid” in new shares. These new shares will dilute mine unless I invest again and dilute all other current shareholders including club1872 shares. The soft loans, by Dave Kings admission, currently stand at approximately £12-15 million. With new soft loans required in the next two months this figure will rise.

What does this mean? It means that Dave King, or whoever sits atop the stair case, will need to have the most successful 2nd share flotation in British sporting history to

A. Pay off the soft loans

B. Have enough proper equity after paying off the loans and operating cash to build a team that will win the league and negotiate Champions League qualifiers in order to then have cash in hand to maintain dominance and to unearth relatively inexpensive gems in the transfer market to be sold on. Much like Celtic do.

By Dave Kings own words, of the few I believe, he said it will take at least £50 million to catch Celtic. I think it’s more than that.

Remember that the whole club/company scam currently shows that the club is in debt to the company to the tune of £12 plus million and the company is the same in “debt” to these soft loans. All of which contravenes FFP rules, but this is Scotland so it’s OK. That will never be repaid without two to three consecutive years in the champions league.

The current situation will mean long term scraping about for the odd victory over Celtic, that will happen from time to time as they will let their guard down occasionally. The odd cup victory will again happen.

If I was in charge I would arrange a prepack administration right now, take the points penalty, write off this season, bin Caixinha and his cronies, seriously annoy the Parks and others, but tough luck (ask the debenture seat and former shareholders in the original Rangers about that) and start afresh. The SFA and SPFL will help facilitate this.

I would employ serious real Rangers men on realistic wages not overpaid “superstars”. It would take two seasons and I would have a third incarnation of Rangers in 2nd place on a shoestring budget. The fans would buy it. They bought the second version no problem so the third version will be a cinch.

Orange away strip and abseiling soldiers with poppies in window boxes in the executive suites and the punters would lap it up. I would make £1 million per season and the fans would accept 11 guys on the pitch bursting their guts at the sheer Britishness of it all.

It’s really very simple, but unfortunately second Rangers thought they were first Rangers and all the special overdraft facilities and authorities turning a blind eye didn’t apply this time. So second Rangers survive on loans from shareholders instead of a corrupt bank. The shareholders don’t have the reserves a corrupt bank has. The funds will run out eventually. Third Rangers will be a success only if reality is introduced into the proceedings. When it is, whether it be with third Rangers or thirty third Rangers, it will take a three to five year project and they will be second best outfit in the country and then, and only then, will they be able to really focus on unseating those pesky Tims from their perch.

It will take one Real Rangers Man to stand up and make this happen, the problem is he will be called a bead rattler and told to pipe (or pape) down.”

The current incarnation of Rangers, new club Rangers Lite, started life as a basket of assets and is now a basket case. King has money but can only remit £590,000 per annum overseas in any given year. Reports suggest that he is not even prepared to venture this quantum.

The unprecedented decision by the Takeover Panel Executive to petition the Court of Session to issue an edict obliging King to make an offer of 20p for the shares not within his concert party’s gift, will have serious consequences. When King was risibly passed F&P by a small quorum of Regan lickspittles, he was still bound by the three years suspension of a three months prison sentence. When the Scorpions turned up to assess the value to attach to his cars for auction, he hid them and mendaciously claimed that they were all at the panel beaters. This song and dance, which was only bettered by a shell game exercise where five interchanging companies owned his corporate jet, cut no ice with the court. I have apprised the TPE of what they are dealing with. They had the professional courtesy to respond.

As far as the Parks are concerned the impending Cold Shoulder and Contempt of Court proceedings are King’s babies. However one should note that any share dilution with King at the helm will land all the directors of RIFC in court.

I concur that the current iteration is a failed enterprise but the principal debtors have yet to call time on throwing good money after bad. Getting a few pence on the pound from a Brian Kennedy consortium would not be appealing. Kennedy is not a RRM but his involvement would be a boon. As I revealed exclusively the lion-maned factotum that is Paul Murray has already beseeched Kennedy to get involved when he attended a meeting at Kennedy’s Manchester office.

However would one trust a man who is one of the two principal benefactors to ‘The Find Madeleine McCann Trust.’ The other major donor is Richard Branson. Would Kennedy be told to ‘pape down’ and dismissed as a bead rattler?

It’s no stretch to suggest that the bookmakers’ runners Regan and Doncaster would confer all the titles to a Third Rangers. They would confer the titles to the Third Reich Rangers if they could sell them as the same club to the bookies and broadcasters.

The future is one without King. Kennedy was offered King’s 14.57% during the meeting with Murray, but anything less than a majority stake does not interest him.

Kennedy would be the ideal chairman and majority stakeholder in a Third Rangers. Rangers Lite has failed. Rangers 2018 with Kennedy at the helm would succeed.

I have no doubt that the punters would welcome an orange away strip, but Puma and Sports Direct have both walked away. Kennedy might well tempt them back to the table but I cannot envisage him pandering to the Orange Ordure.

The quintessential Britishness of abseiling squaddies with poppies between their teeth should be a thing of the past. They are little more than bigots in uniform and should play no part in any tertiary Rangers concern.

On a final note is it any wonder that many in the Celtic support refuse to subsidise the price of a pint at ex servicemen’s clubs when the paratroopers who murdered innocent civilians on Bloody Sunday supped their blood?

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33 thoughts on “Encounters of The Third Kind”

  1. JJ, regarding your last paragraph, this may interest you. https://youtu.be/E8jK8uuW57w
    donation just made

    JJ: Very gratefully received. I took the expected hit on the Bears piece. I’m concerned that should this continue the two years anniversary celebrations on September 19 will be muted.

  2. With regards to Rangers getting into the Champions League and the money they would earn, I doubt very much if any Scottish team (including Celtic) will play in the CL after this season unless the format is enlarged to 40 or 48 teams.
    Next season there will be only 16 places up for grabs after Spain, England, Germany and Italy are automatically allocated 4 places each. This will leave the French, Russian, Ukraine, Belgium, Swiss, Turkish etc champions and runners up battling for the 16 places left.
    It will be a tough ask for Celtic to negotiate 4 qualifying matches against teams from these countries let alone wonder how Aberdeen or Rangers might get on.

  3. Jeezo, JJ. Yer no pulling any punches, are ye? I s’pose a Third Lanark, er, third Rangers is a real probability. Wont be long before we’ve had so many ‘Rangers’ flavoured entities that we lose track and resort to calling them ‘Rangers’. Mibbe that really is the master plan.
    My money, however, is on them disappearing for good, once this charade is finally over. The peepul are not for accepting second best. They will not continue to pony up their hard-earned dole money when all they have to look forward to is an occasional, end of season rubber, a meaningless, ref-inspired, 2-1 reverse. They’re dead men walking, theres no hope for them now. A third Rangers is really nothing but a Third Lanark. Something that geriatrics remembwr more fondly than the fact. Bye Bye, ‘Rangers’!

  4. JJ

    I have stated before there are “Old Money” men who will now invest heavily in Sevco but only once Insolvency 2 happens. They refuse to line the pockets of DK and the rest of the cabal currently incumbent at Ibrox. These individuals run and own some of the largest companies in Scotland and have built there success on proper business management principles similar to how Celtic are run.

    If I were a Sevco fan,( I am a season ticket holder at Parkhead) I would back the blogger whom you highlighted as he offers salvation albeit immediatley painful and embarrassing. The chance to flush the toxic brand is palpable and an oportunity too good to miss.Rightly or wrongly Sevco is seen as the establishment club and big business will once again want to be seen out in public with a new toxic free Sevco 2 without the WATP, Army ,Orange top jingoistic bile engrained in the present manifestation of what was Rangers. I believe Sevco2 would remain in the SPFL and they would be given a lot of support from the smsm and governing bodies

    Then again I am an obsessed Celtic fan so what do I know?

    Keep up the great work and usual donations seem to still be incoming your account as accurately as a North Korean ICBM

    VV

  5. JJ,
    I know that the wheels of justice grind exceedingly slowly but when, in heavens name, is the Court of Sessions likely to meet vis-a-vis giving GASM a boody nose?
    Terrymac

    1. This year will be the last of the summer recesses at The Court of Session. They currently are offering a scaled down vacation list. As of September 26 things will be in full swing again and King will be swinging.

  6. JJ, first of all I think your site is the most honest and factual anywhere. I would love to donate to it but im not working atm coz of illness and get a grand total of £3.50 a week in benefits to live on(missus works part time) and times are very very hard. I feel really guilty I cant donate atm and feel like a lurker but had to tell you what a great job ur doing under those threats. Take care JJ, stay safe and regards to mrs bear.
    Dont mind u posting this but just call me Peter M

    1. I don’t think that would work. If they have a bona fide case and the “switcheroo” was fraudulent then the assets remain the proceeds of crime and belong to the victim regardless of who holds them. Think holder of a stolen car. It’ll only remain to drive down what investors in a newco would pay for the risk of losing them.

  7. The following posts appeared over the weekend and are worth a wee visit:

    JJ: 1. I will not allow links to a site (SFM) whose members are allowed to openly denigrate me.
    2. Davies Left Peg, while not the most eloquent kid on the block, does not pull his punches. However classifying Celtic as ‘That Paedo Ring’ is unacceptable on this site. Scoring points in regard to child abuse is the preserve of a retarded mindset that will never have a place on this Speakeasy.

  8. JJ tried to donate via PayPal as usual. However there appears to be a problem just now. Can you confirm if you have received anything. It just seems to freeze at final donation button.
    I will try again later tonight if it has not gone through.

  9. For those of you who don’t know, one half of a superlative song writing team, Walter Becker, passed today. In the clip I have enclosed he is playing lead guitar, but he was humble enough to let other more accomplished lead guitarists, such as Larry Carlton, take the lead roll as he played bass. Listen to Aja where Becker and Fagen take Jazz Fusion to a new paradigm. Listen to Kid Charlemagne. In fact throw a dart at any of their back catalogue and you will unearth a songwriting gem. I never saw them live as I am not of their time, but I was fortunate enough to see a Scottish tribute band, Panache, perform faithful covers. RIP Walter.

    1. Agree wholeheartedly. Despite unconsciously knowing who they were via airplay of classic tracks) I was introduced to SD through discovering “The Nightfly” by Donald Fagan.
      I too was probably not of their time either but managed to take in their show at the Armadillo a few years back…As you say WB was a humble man…that night they had assembled a backing band of extremely high quality including a very young lead NY guitarist to whom WB often deferred.

    2. Hi! My cousin in Australia picked up on you mentioning Panache on your blog. Thanks! We got the band together for a reunion in 2009 with original members Alan, George, myself as well as a few special guests. We played a few Steely Dan songs at the reunion. Here’s one of my all-time favourites – Kid Charlemagne – https://www.youtube.com/watch?v=0n1zs3rvX8Q

  10. Usual monthly donation made 4468-0638-7000-908x.
    One thing we’ve learned from your excellent site is the time and money involved in ‘due process’.
    It seems to take forever to bring issues to a conclusion.
    I hope you continue your efforts to the that end.
    Keep safe, jj

  11. £50.00 donation from my father made to allow you to continue with the great job you are doing.
    Keep up the good work.Strip the titles.

    JJ: I cannot thank you enough. Very generous!

  12. A share issue cannot take place with King as the Chairman. The Cold Shoulder would prevent that. The Parks have a problem. Continue giving away money and end up losing it all or keep their losses to a cool $10,000,000. That ‘s a lot of money to watch a game every two weeks played by a crap team. Do they fold or go all in? Do they think they can trust King? No one else does.

  13. Hi JJ, my monthly recurring seems to come off on 3rd each month. Is it better for you if I change it to another date to suit your outgoings? Let me know n I will do the necessary. Latest is ref 35595009LT58xxxx. Cheers!

    JJ: If it was not too inconvenient the first of the month would be preferred. However in the final analysis I’m inordinately grateful for any contribution irrespective of when it comes.

  14. For those on this site who are paying tribute to Walter Becker, tune in on you tube to ‘The Dukes of September’. Donald Fagen, Michael McDonald and Boz Scaggs. Live in LA. Sensational stuff.

    For SD fans, it is a must see.

  15. Saw Steely Dan in Edinburgh a few years ago having been a fan since 1973. Fantastic experience. They always used musicians at the top of their games and these musicians to a man or woman comment favourably on being part of the Dan family. Real humour in the lyrics which sometimes get overlooked.

  16. Can’t get a link but have it on DVD. Sensational stuff. SD at the O2 in October. That will be a tribute to Walter Becker.

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