Mark Warburton has been told that he’ll have no money to spend in the January transfer window.
The news emerged when Paul Murray was interviewed by STV with the blazer chaser also claiming that the funds were in place to repay Sports Direct.
Explaining the confusion over the loan repayment Mr Murray said: “First of all to clear up what happened in court last week, that was just a simple mistake which was made by our QC. He didn’t have the facts to his fingertips.
“The facts are quite simple, we have £5m on deposit with a solicitors at the moment. The loan will be repaid as soon as the legal documentation is in place.”
Mr Murray claimed that any transfer funds would have to come from existing shareholders but with a resolution rejected at the AGM to raise fresh funds Warbo will have to make do with the squad he already has through till the end of the season.
Today’s news is at odds with the claims of Dave King in June. Speaking at the launch of season-ticket sales the glib and shameless liar said: “It’s probably the right thing to over-invest this season and make sure we do comfortably come out of the league and have a strong squad going into next season.
“The funding figure of what will be required is based on a number of things outwith our control. It would depend on our ability to renegotiate the commercial arrangements, the level of season-ticket uptake, whether we repay the £5 million loan.
“So the investment must be whatever it takes to comfortably win the league and substantially take us forward into the following season.”
With a going concern issued in the annual accounts it seems that financial reality is slowly setting in at Ibrox.
Finding the funds to retain the current levels of expenditure appears a tall order with no credible backers prepared to invest in a company connected to Mr King.
Speaking to STV Mr Murray admitted: “It’s really up to Mark and Frank to recommend to the board what they feel needs to strengthen the squad and we’ll then look at that situation as and when it materialises.
“There would be fresh investment required for that obviously if we wanted to do that so it would depend on the nature of the transfer fee, wages etc.
“It would depend on the circumstances but there’s a willingness to support Mark if he feels he needs to strengthen the squad.
“I don’t think we need fresh investment from elsewhere, the existing shareholders are supportive of the plans we have so I don’t think we need to go outside to seek investment.”
Despite all of their claims neither King or Murray have invested a penny in the company.
It’s obvious the £5m doesn’t exist as SD will reject any offer of repayment as they are in default on the loan. These shysters are playing the gullibilly’s perfectly and this is them preempting the no funds for strengthening the squad scenario. The fictional money will be kept in reserve to pay the loan when they come to an agreement with SD (and hell will freeze over before that happens), or certainly, that’s the bull they’ll feed the peepul.
The Mob wont need any Money if they get there wish and the TOP 4 Teams get promoted…….By Hook or By Crook the SFA will help them out, they cant do enough for them at the moment.
SB
If Celtic don’t kick up f*ck about any rule changing, attendances will drop off drastically at Celtic Park. If the board do nothing, they’ll pay the price £££££
HH
I know what you mean Wulz,does our club want them back though? We know how our Fans Feel about it all.
Surely even the stupidest zombie can see, there been taken for a ride. Will the press ever ask, where’s the money you promised. Their heading straight doon the shunkie, administration shortly.
HH
i’m confused surely the magic hat has been touted to be the new Chelsea manager lol
Sevco should flog the Magic Hat: That’s got to be worth a fair few pound …
Gullibility is a rangers fans disease. WAKE up you mugs , rangers spin doctors have done ther job how many players have we read that is coming January , it is an embarrassment to think that people this gullible live amongst us
So at the AGM King announces that the loan will be repaid as it’s the right thing to do….no further explanation needed.
This provokes a standing ovation from the shareholders, the same shareholders who at the EGM voted not to repay the loan, but this time around were not consulted.
King states that the money is in the bank and will be paid over when the lawyers have drawn up the requisite paperwork.
King’s QC states at last week’s court case that the loan has been repaid in full……..much glee in the MSSM and the fans.
Next date SD’S QC states that loan has not been repaid.
According to King the pot is short of £500k, awaiting collection.Watch this space.
Paul Murray informs us that the Rangers QC didn’t have all the facts at his fingertips when he made his statement……though no apology or retraction was made in court.
Murray now states that the £5m is with the lawyers, pending requisite paperwork………sounds a bit familiar does it not?
Give it a week max before the media is screaming that SD have refused to accept payment due to the conditional nature of the offer to repay.
Some small issues to be ironed out but SD draw the line at dropping all pending legal actions against Rangers, oh and the SFA.
Stalemate till the new year when Ashley gets both King and the SFA in a witness box under oath.
That should be fun.
King’s QC states at last week’s latest court case that the loa
Love your posts, mate, but that last bit got cut off … 🙂
These Sevco supporters are sooooo stupid – it’s a wonder they can eat stuff!
WE should loan Hibs a few players in the new year such as Stokes and keep them where they are. Another season with less money smaller crowds no invesment stadium falling apart and do the SAME NEXT SEASON AND THE ONE AFTER THAT if they still exist, why not?
I couldnt give a fuck about europe anymore apart from the cash. Scottish clubs will never again compete until the domestic gets sorted. Look at the state of the stadia comaperd to England. This is Scotlands national sport ffs. Id rather an 16 or 18 team league to give Aberdeen Hearts Hibs Dundee a decent chance and make the league more competitive. So what if the crowds fall behind, maybe not, we adjust. One org looking after the game give ex players a greater say let them run the game and kick out the twats only in for the salry of the players backs.
Ditch Hampen new 100,000 stadium in Edinburgh and share with rugby any smaller games play at Celtic or eleswhere. Scottish football needs radical change a good kick up the balls and without the huns we dont have to worry about them infesting it anymore.
The Celtic board are desperate to have them back. They will overlook any previous cheating and will not ask for titles to be stripped or justice to be dome. In fact they will be delighted when the new entity wins its first title and claims to have won 55.
They want it all back to the way it was. A pathetic duopoly which guarantees an out let for bigots and for idiots from both sides to spend their cash on. They won’t sue for millions lost to the cheats at Ibrox or the SFA, yet they will consider legal action against a few half-wits who cost them less than 25 grand.
The biggest enemies Celtic have are within Celtic Park. Sevco may go into administration, then may be liquidated time and time again, but they will never be out of the top league again, the Chairman of Aberdeen, Celtic et al will ensure this. The only thing the supporters will have is the ‘you’re a new club, naw we’r no!’ garbage which will go on and on and on for hundreds of years.
Personally, I’ve had it and will not be giving them any more money when the Newco come back up. I will spend the money on wrestling or another more honest sport.