Celtic Banter Archive October 29 2012

29 Oct 2012 20:58:02
Stone Roses 15th june 2013 c,mon the hoops,.,.kbarry

F*ckin yassss kbarry bhoy. Stone roses at the Glasgow green is gonna be unbelievable. Can't wait.

I loved the Roses till i saw them live at TITP, my ears are still hurting. Brown never was the best of singers but he has got steadily worse.
John Squire is still the man though. The Seahorses were better IMO.

Joeshmo1888

Mate i was at T in the Pee and i absolutely loved them, albeit i may have been blotto and had been getting romantic with the paracetamol lol but I never thought they would make a comeback and i'm too young to have ever seen them live the first time so i was in awe. His voice is pretty bad but the music behind his vocal was still as it ever was, genius.

29 Oct 2012 19:14:19
Evening ED007, here is a true story
(honest) ...
This morning waiting for bus to go to Partick to get train to Helensburgh.
Clyde tunnel was bumper to bumper because of roadworks and bus was
very late, when a car stopped and a neighbour offered me a lift. Now this
neighbour I had previously little to do with because of his extreme views.
(a died in the wool loyalist)
It got more surreal as he had a tape playing of "build my gallows high" full
blast, he turned it down, slightly, when I entered, not off just down. He then told me his cousin an RC priest had just died and he was going to Liverpool for the funeral. He openly said he had "many an argument about politics" with his cousin but then said quietly " I respected him, as he was one of the good guys"
In that 15 minute drive I learned a lot about this chap, that I had previously written off as a bigot.
He did not need to offer me a lift, but he did and his good deed was appreciated as I caught my train in time.
Him and me still hold opposite views but I now have a little more respect
and understanding of this dyed in the wool loyalist.
Irony of this story is that all day I had that b....y tune in my head.. Timalloy

It's a catchy tune tae lol.

Timbo yur back in the room ...back in the roooooooommmmmm

I've been praying for you to join the presbytery, welcome to the light Timalloy!

Oh by the way that wasnt a tape, it was the sound of Angels!

Hey Timalloy a forgot to mention, Angels singing that is!

Nae smart comments from you James Bond, the Presbytery are praying for you as well! {Ed007's Note - I need all the help I can get so it is all welcome.}

Here wuv aw been prayin fur big eds ankul bit its no takin
ma mediciul assesmint is that the ankul huz rejectit the boady n who cood blame it ah feel sorry fur that ankul so ah dae god bless the coatbrig ankul n aw who sale in it god bless me tae ,
here ed dae ye think thit js hoose is stul livable?
its jist thit av goat 3 swedes comin owur fur wee henkes doo n canae find digs?

29 Oct 2012 13:51:12
I have a Heads of Terms document for the sale and leaseback of Ibrox, Murray Park and the Albion Car Park.

The purchase price for all three assets is £7.285m. In addition to this there is a £6.9m loan provision with 15% interest payable monthly (£985.5k annually). Initial rent for all three properties is £1.8m. The 20-year lease provides for upwards-only reviews every five years by either 2% p.a. or RPI, whatever is greater (so assuming RPI is less than 2% each year, after five years, rent would be £1.987m).

Annual costs for rent and interest would be £2.835m. Current season ticket sales are reported to be approximately 36,000 with a standard adult price of £286, income net of vat will be around £8.5m.

Although the top line figure for both sale and loan is £13.835, the initial payment will be less 3 years rent [£5.4m] to compensate for the lack of guarantee covering the rental payments�, so monies paid would be £8.435m as the first three years rent is deducted from the total.

Crucially, rent is to be securitised against ticket receipts and the new landlord is to be granted first charge on the season tickets�, so, just as Craig Whyte planned with Rangers, Sports Direct FC would collect ticket money before passing it on to the security holder.

If the buyer attains planning permission for residential properties at Murray Park, a provision releases the seller from having to repay the £6.55m loan and cancels future interest payments. This speculative clause would release the club from punitive interest repayments but would require them to find a reasonably priced ash park to train on. Perhaps the Albion Car and Training Park.

The tenant� will be able to buyback the stadium. In year one the price would be £10m (they would still owe the £6.55m loan). The set price increases by 12% p.a. for 10 years, so the year-10 price would be £27.7m. Thereafter price will revert to Market Value but will not be less than £20m�. The market value of Celtic Park is around £50m. There is no buyback provision for Murray Park or the Albion Car Park.

The deal is on the table but will not be signed before the share issue, or if the tenant� wins the Euromillions Jackpot (that's not a euphemism for Champions League money, I mean the actual lottery), or finds some magic beans

From CQN
Any truth in this ?

Paddy Malarkey

Yes, saw this last week Paddy on the same site.

CQN has a very good reputation and are not ones for posting bulsh1t, simply to wind up the Sevcovians.

Trouble is, there is no way of validating whether such a Heads of Terms does exist unless it comes out into the public domain.

I'm involved in property and the structure of the deal is typical of what you would expect to see in such a transaction, although the actual terms are very favourable to the prospective purchaser of the property assets.

Only a desperate seller who is in financial difficulty would agree to such a deal.

One thing to consider is that Green may be involved with the purchaser (as well as being the seller), and this would be a mechanism to allow him and investors to get money out of Sevco now.

K-Dot.

K-Dot, although I have no way to back it up, I tend to agree with the last line of your post. It's been my suspicion , and I'm quite sure I'm not alone in this , that shall we say, a certain amount of double dipping is in play here. Not that I don't understand an investor hedging their bet. If you consider the circumstances, who wouldn't ? VHSS

VHSS - and of course there is the issue of exactly how the share issue will be structured.

When Green was in the process of setting up Newco he incorporated a company called Sevco 5088 Ltd. Everyone thought that this company would be the new club and eventually change it's name to Rangers "whatever".

Indeed, Sevco 5088 Ltd was the name of the company referred to by Duff and Phelps in all their documentation with regards to who Oldco would sell their assets to.

But low and behold, it was Sevco Scotland Ltd that bought the assets and it is Sevco Scotland Ltd that changed it's name to The Rangers Football Club Limited. It is this company that obtained the SFA membership of Oldco and it is this company that owns the SFL share and plays in SFL3.

Nothing has ever happened with Sevco 5088 Ltd and the only registered Director is Charles Green.

Many of those now looking at the proposed structure of Newco's share issue, believe that Green will try and sell shares in Sevco 5088 Ltd.

Sevco 5088 Ltd would then be the holding company of The Rangers Football Club Ltd, the company registered to play football.

So the Sevcovians would be buying shares in a holding company and would not be buying shares in the company that is the football team.

All sorts of abuses can then take place of shareholders within such a structure and of shifting and selling of assets.

But good luck to them. Whyte has already shafted them, and Green has set out to do the same.

K-Dot.

Imran Ahmad knows its heading to administration again. So he is separating HIS assets from the toxic company. Also trying to put assets beyond BDO clawback.

Charles Green admits personally tonight in heraldscotland that asset sale by D&P massively and negligently undervalued. Green stating his shares prospectus values assets at £80m. Just doomed his newco club.

Green lying tonight saying the season ticket money is in the bank untouched. He also says there is zero debt but he owes HMRC £3m and others.

Assets have Whyte toxicity secured charge against them.

K-Dot...Thanks for your explaination VHSS

29 Oct 2012 12:34:23
Couldn't help noticing the large number of empty seats at most English Premiership games over weekend ... Must be as a result of Sevco FC being dumped in division 3 lol