BEARGER
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Everything posted by BEARGER
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Matthew Lindsay NEARLY 5,000 Rangers fans have committed themselves to withholding season ticket money from the stricken Ibrox club in under a week. The Union of Fans, an umbrella group comprising six supporters organisations, wants to pool the cash in a trust until their demands are met. The controversial move follows a call by former Gers director Dave King last week for supporters only to release the funds on a "pay-as-they-play" basis. It is a radical plan that has sharply divided opinion among the Light Blues support and has been condemned by senior officials at the Ibrox club. Two statements released by Rangers last week called the development "de-stabilising" and "divisive" and claimed that it would "benefit no one". But the Union of Fans have been inundated with pledges of support from fans who are unhappy with the way the SPFL League One leaders are being run. Just under 5,000 of them have contacted the union website since the scheme was announced on Thursday to indicate their intention to withhold their money. Craig Houston, the mastermind behind the Sons of Struth protest group, revealed the number had exceeded the expectations of Union of Fans activists. He said: "The figures are fantastic. I thought we would maybe get close to that sort of figure after a week or so. To get that in a couple of days is amazing. "We have been blown away by the responses we have received in such a short space of time. "We have some initiatives that we are working on that we hope will rapidly increase the number of fans who want to lend their support to the plan." The terms of the £1million loan that Rangers have agreed with Laxey Partners, the largest shareholders in the club, have angered many supporters. The Isle of Man-based hedge fund is set to make a £150,000 profit on the loan when the money is paid back to them in full this September. And the fact the loan has been secured on Edmiston House and the Albion car park facilities also worries followers of the Govan giants. Fans want to have a representative on the club board to look after their interests and are keen to receive guarantees about how the club is run. King released a lengthy statement on Saturday that hit back at the board's response to his call for fans to pool their season ticket money in a trust. He will travel to Scotland from South Africa soon to ensure the trust is set up legally and to help create a fund that secures fans an "influential stake" in the club. He also claimed that former chief executive Charles Green, who led the consortium that bought Rangers in 2012, could still be "de facto" controlling the club. His statement read: "The board wants fans to lend money at no interest and with no security. Rangers fans are loyal but not stupid." lRangers last night rejected internet rumours that the club will enter administration for a second time on Wednesday. A spokesman said: "There is absolutely no truth in these claims."
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Pinched from FF. Rangers Director Norman Crighton is a director of company called Private Equity Investor PLC alongside someone called Peter Dicks. http://companycheck.co.uk/company/03...people-summary'>http://companycheck.co.uk/company/03...people-summary Peter Dicks happens to be a director of Daniel Stewart Securities who in turn own our NOMAD 100%. http://companycheck.co.uk/company/03...people-summary http://companycheck.co.uk/company/02...e#shareholders Colin Kingsworth of Laxey also used to be a director of Private Equity Investor http://companycheck.co.uk/director/904231162 Sounds nice and cosy if you want a loan passed at Wonga rates
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DAVE KING has criticised Graham Wallace for claiming the Rangers support have destabilised the club with their threat to withhold season ticket cash - insisting the chief executive's comments are an insult to the Ibrox faithful. In a statement released to Press Association Sport, former director King has taken swipe at Wallace for questioning fans' loyalties to their club. The Union of Fans issued a vote of no confidence in the Ibrox board on Thursday and backed King's bid to lead a fan-based group to secure a major shareholding in the club. They also backed the South African-based businessman's call for trust to be set up that would collect season ticket fees and drip feed the money to the regime controlling the Light Blues week by week. Wallace responded by saying that threat was "damaging" Rangers but King rejected his claim. In his statement, King - who now plans to fly to Scotland to step up his bid for change - said: "Unfortunately, I can only express bemusement at the board's response to myself and the fans. "In what is really a non-response the board states that our statements are an attempt to undermine the club. That is an insult to fans who have nothing other than the club's interest at heart." The latest squabble in the long-running saga surrounding the club's ownership and finances was sparked on Monday when Rangers announced to the stock exchange that it had taken out a £1.5million loan from investors Laxey Partners and Sandy Easdale. The terms of the loan handed both Laxey and Easdale security on the Albion car park and Edminston House facilities near Ibrox, while Laxey stands to make a £150,000 profit. That angered supporters who claim a better deal was available from other shareholders. Wallace, though, pleaded for the fans to trust the board's management but King - who lost a £20million investment when oldco Rangers were liquidated in the summer of 2012 - said: "They ask for trust but don't recognise that trust is a mutual relationship and requires transparency. "What the board is really asking of fans is to have blind faith - not trust. This board has not earned that right and has, in fact, repeatedly demonstrated the opposite." And King raised doubts about who was really pulling the strings behind the scenes. "{The board states] that the current problems can be attributed to previous management (presumably Charles Green etc). That does not explain the ongoing lack of transparency on shareholding and finances by the existing board. "It is quite possible that Charles Green is still de facto controlling the club. Certainly the existing directors have a minuscule equity stake and yet won't disclose the true 'power behind the throne'." Rangers made a £14.4million loss last year and had to take out the Laxey/Easdale loan just to keep the Ibrox lights on until the end of the season. King's statement concludes: "The board continues to treat the fans with disdain by offering mere platitudes. "A more considered and constructive response was appropriate. It is insightful of the board's mindset that it is willing to borrow money from a preferred shareholder at a rate of interest that reflects a high risk to the investor. "In doing so the board has finally confirmed its true view on the parlous state of the club's finances. "What is incomprehensible however is that it then eliminated the risk to this investor (and separately to Sandy Easdale) by providing club assets as security while still paying the high-risk rate. "That highlights that this transaction makes no commercial sense and was not conducted on an arms-length basis. "Paradoxically, the board wants long suffering fans to lend money at no interest and with no security. Rangers fans are loyal but not stupid."
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Being reported that DK is preparing to come to Scotland shortly and meet with fans groups(UOF ?) to sort out legal stuff. Also another statement will be issued.
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From UOF website. OCEANIA RANGERS SUPPORTERS ASSOCIATION, HONG KONG RSC, BAILLIESTON TRUE BLUES, HEART AND HAND PODCAST, NORTH WALES LOYAL RSC, BLACKPOOL TRUE BLUES RSC, CLOUGH CO. DOWN RSC, RANGERSFC.INFO FORUM, DUNGIVEN LOYAL RSC, INVICTA LOYAL RSC, NEW CUMNOCK RSC, DUBLIN LOYAL RSC, SPRINGBURN LOYAL RSC, OBAN LOYAL RSC, FERNHILL LOYAL RSC AND THE CAMPSIE LOYAL HAVE ALL REGISTERED THEIR SUPPORT FOR THE UNION. JOIN THEM Over 4000 fans and numerous RSCs have registered their support for using a trust set up by Dave King to hold season ticket money in line with his suggestions and until the board meet certain conditions.
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Aye a former captain that left ( first time) when we really needed him. A fan who made plenty out of the club who could afford more than most. I don't have a lot of time for so called legends like BF, you may have noticed this.
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Who gives a toss what BF thinks about our plight? How much has he invested ?
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Agree about King, he must step up to the plate and deliver. As I said earlier it looks to me that some were forewarned that King was going to speak out. If not the UOF have made a major blunder in organising this.
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Over 3000 signed up so far.
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Long winded statement that says nothing and gives us the same amount of new information. Wallace is just another with his nose in the trough.
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Well it's obvious to me that certain groups/people had a heads up and knew that DK was going to make his statement.
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It's obvious that contact had been made between DK and some of the groups before he made his statement.
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We will never ever get 100% solidarity amongst all the fans, we should just concentrate on the majority. RM has been virtually taken over by VB, best ignored.
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You make a good point. Someone who donates £20 per month for the same 5 years but keeps going has a vote and you don't. Just does not seem fair to me. -
Until he actually spells out how he intends to invest in Rangers and how much there isn't much to discuss. AJ seemed to suggest as much recently.I'd advise him to watch what he says otherwise we might all end up with nothing I also genuinely believe he needs to answer if he really did lose 20million in the oldco. Did he get most of that returned to him? The way you have worded it I assumed you were talking about yourself. Of course he may speak numbers to the board.
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A spokesman said: "The board notes Mr King’s comments with concern as they are potentially de-stabilising and damaging to Rangers Football Club."
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No way is he going to make public how much he has to invest in Rangers. He lost all in the oldco, he says that in his statement.
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Keep getting this Tapatalk thingy coming up when logging on. What's it about? Worth having?
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The 1% mentioned is not all expenses just the banking charges for collection ?
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Rangers Supporters Association, Assembly and Trust - Statement
BEARGER replied to Zappa's topic in Rangers Chat
I posted a few days ago asking where this requirement for a loan left Wallace. "The Rangers Supporters Association, Assembly and Trust have been contacted by a number of Rangers supporters, who are also current shareholders, indicating they would have provided a secured loan of £1.5m on more favourable terms than the combined Laxey Partners/ Easdale loans." If this statement if true (and I have no reason to believe its not) Wallace has to go and go now if he has any self respect, otherwise he will be seen as just another spiv with his head in the trough. -
Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept
BEARGER replied to chilledbear's topic in Rangers Chat
Easdale's cash comes on a no-fee and no-interest basis, while Laxey Partners will lend the club £1m, with both sums secured against the Edmiston House and Albion car park facilities near to Ibrox. “ These credit facilities will be used by the company for general working capital purposes over the next few months ” Rangers statement Both loans are repayable by 1 September, while Laxey Partners, the club's single-biggest shareholder with an 11.64% stake, standing to make a £150,000 profit on its part of the deal. -
This survey is open to all to complete including Rangers haters. Survey will be a shambles, just like everything else this board do.
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Yes would think is the case in part. You also get people making assumptions. We will wait and see.
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Nobody gave me any information, this is what I said "3. BuyRangers and RangersFirst seen it posted elsewhere that more will be used on expenses/costs etc. with RF than BR. Is this correct?" I got that from a post on here or FF or some other forum. If it's not been determined yet how can somebody have given me the information?
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ALLY McCoist today urged Rangers fans to back the current Ibrox board.....
BEARGER replied to ian1964's topic in Rangers Chat
Ally should stick to team matters. We ain't going to be fooled again, are we?