Rangers Football Club

BOCA grabs opener as Americans get campaign off to winning start http://www.rangers.co.uk/news/football-news/article/2806925

GATTUSO move could come off if Rangers are allowed to sign players again http://www.rangers.co.uk/news/football-news/article/2806443

DIRECTOR branded 'disruptive' after comments about consortium's takeover More...

GREEN isn't using season ticket money to buy Gers and consortium will definitely take control More...

GREEN and administrators react to Dave King's allegations http://www.rangers.co.uk/news/football-news/article/2805278 CHARLES GREEN - who is leading a consortium acquiring Rangers - and club administrators Duff and Phelps have reacted to allegations made by Dave King today. Mr Green said: "Mr King's statement is breathtaking in its arrogance and is destructive to the interests of the club. "My consortium tabled an offer, which was accepted by the administrators as the best offer for the club and its creditors and substantial sums of money have already been paid to the administrators. "Provision has been made for working capital that does not rely on season ticket sales any more than would be part of normal operations at the club. To suggest otherwise is scurrilous and scaremongering. "I would question Mr King's motives in urging the rejection of the CVA proposal which is the best offer available to creditors, particularly since he made no mention of this or any other issue when I spoke to him on the phone in South Africa last Friday. "If the CVA is rejected then the club will be acquired on a newco basis which will not benefit creditors, nor will it benefit the club in terms of participation in Europe. "In one week's time, we hope the CVA proposal will be approved by creditors and that will be an important milestone for the rebuilding of the club. "It is also absurd to suggest I have not been communicating with fans. Only yesterday I had a constructive and progressive meeting with fans representatives which was one of many I have had over the last few weeks and there will be continuing dialogue with them. The fans will be kept informed at every stage of this process. "People such as Mr King who, as I understand was not in a position to make a bid for the club, need to accept the realities of the situation and move on rather than continue to snipe from the sidelines." Paul Clark, Joint Administrator, added: "I find Mr King's remarks disappointing and misleading. "As he should know more than most, all shareholders, as well as creditors, have received access to the CVA proposals and all relevant information has been made public on the Rangers website. "Mr King should also know, that immediately after the conclusion of next week's creditors meeting, a shareholders meeting will be convened. "Mr Green, as the new legal owner of Mr Whyte's shares, will vote in favour of the approval of the CVA should that be the outcome of the creditors meeting. "Mr King refers to a claim against the club. We have received a letter of claim from Mr King's solicitors which contains a number of broad and unsupported allegations concerning matters which took place some 10 years ago. "The claims raised are neither accepted by the club nor have they been adjudicated by a court. We have written to his solicitors to ask them to provide evidence to support the claim, as all creditors are required to do. !As a result, Mr King's suggestion that his representations have been ignored is entirely unfounded. "If Mr King feels he has a claim against Mr Whyte or Mr Murray, then that is a matter for him and not a concern of the Administrators. "The CVA proposal is completely transparent and gives detailed information as to different outcomes such as a newco or dissolution of the company. "It is a comprehensive document and there have been no issues raised about its content by significant stakeholders and creditors. "Mr King should also note that Duff and Phelps meet the Rangers Fans Fighting Fund on a weekly basis and will continue to do so."

KIDS can enjoy top football coaching in Newtonabbey from June 25-29 http://www.rangers.co.uk/news/football-news/article/2801370 RANGERS has announced that a youth soccer camp will be held in Newtownabbey, Northern Ireland, for the first time from June 25 to 29. The camp at Nortel Football Club will cater for boys and girls aged between 6 and 15 and will run from 10am to 3pm with local UEFA-B football coaches helping to organise the training. Kids will be able to hone their football skills and take part in enjoyable games and drills at the Doagh Road pitch. For further information on this camp contact Stafford Ward on 07745784323. There are further camps already confirmed across Northern Ireland this summer including Larne (July 16-19), Tullycarnet (July 23-25), Ballinamallard (July 30-Aug 3) and Londonderry (Aug 6-9). Call 0871 702 1972 or email soccerschools@rangers.co.uk to book! Pictured are: Stafford Ward (coach), Colin Anderson (coach), John Joyce (Rangers FC community coach) Stephen Rogan (President of Nortel FC), Dean Spence (Secretary of Nortel FC), David Close (coach) and Alan Beggs (Chairman of Nortel FC).

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DUFF and Phelps issued the following statement this evening More...

JOINT administrators Duff and Phelps made the following statement: Paul Clark, joint administrator, said: "The allegations made in tonight's programme against Duff and Phelps are untrue, a distortion of the facts and highly defamatory. Discussions are already underway with our solicitors with a view to bringing legal proceedings against the BBC. "We are also hugely disappointed with the irresponsible comments made by Mr Roger Isaacs who is clearly not in possession of the facts. "We made a number of offers to assist the BBC in order they would not make the fundamental errors broadcast this evening and for some inexplicable reason the reporter Mark Daly declined these. "We had also hoped to give interviews stating our case on camera but received strong legal advice against this course of action, bearing in mind the legal proceedings Duff and Phelps have raised against Collyer Bristow. The BBC were informed in writing from our solicitors. "We did however provide the BBC with lengthy written statements stating our position and we are publishing these on the Rangers website. "In broad terms Mr Daly failed miserably to understand the difference between working capital arrangements for the Club and acquisition funding." David Grier, said: "I categorically deny that at the time of the Craig Whyte takeover of Rangers, I had any knowledge that funds from Ticketus were being used to acquire the Club. This accusation is wrong, highly defamatory and betrays a lack of understanding of the facts. "Neither I nor any of my colleagues at MCR provided any professional assistance to Liberty, Wavetower or Craig Whyte, in raising funds, performing financial due diligence, structuring or agreeing the terms of the purchase of the Club from the Murray Group. "Financial due diligence and other work was provided by Saffery Champness, a firm of chartered accountants who specialise in this area and our primary role was to provide assistance to Liberty Capital in negotiating a settlement and assignment of the debt due to Lloyds Bank. "The reality is that when my concerns about the use of Ticketus funding crystallised over the summer of 2011, I took immediate steps to raise these concerns with controlling directors of Rangers and HMRC. "The email referred to in tonight's programme to Ticketus dated 19 April 2011 mentions the possibility of raising funds for working capital but does not provide any information of quantum or terms of such a proposal. To suggest this email establishes an awareness of Ticketus providing acquisition funding is absurd and ridiculous. "Once we discovered the full extent of the funding relationship between Ticketus, Liberty Capital and the club, we took immediate steps to raise our concern with controlling directors of Rangers and HMRC." Mr Clark said the administrators would not comment on the BBC's EBT allegations while the first tier tax tribunal was still active. http://www.rangers.co.uk/news/football-news/article/2786598

THE following information was given to BBC ahead of the broadcast of tonight's programme: David Grier, who was the engagement partner at MCR, said: "I categorically deny that at the time of the Craig Whyte takeover of Rangers, I had any knowledge that funds from Ticketus were being used to acquire the Club. This accusation is wrong, highly defamatory and betrays a lack of understanding of the facts. "Neither I nor any of my colleagues at MCR provided any professional assistance to Liberty, Wavetower or Craig Whyte, in raising funds, performing financial due diligence, structuring or agreeing the terms of the purchase of the Club from the Murray Group. "Financial due diligence and other work was provided by Saffery Champness, a firm of chartered accountants who specialise in this area, and our primary role was to provide assistance to Liberty Capital in negotiating a settlement and assignment of the debt due to Lloyds Bank. "The reality is that when my concerns about the use of Ticketus funding crystallised over the summer of 2011, I took immediate steps to raise these concerns with controlling directors of Rangers and HMRC. "I had no direct contact with Ticketus prior to the takeover by Wavetower, however we were aware and were party to discussions regarding Ticketus as a recognised source of short term working capital that was used by the Club and that could be a source of such continued funding. These discussions are well-minuted. "At the time there was significant uncertainty surrounding the potential outcome of the 'big' tax case, which could result in the Club being unable to meet a potential liability and therefore face insolvency. As a result we were asked by Liberty Capital in April 2011 to provide advice in writing to them in relation to our view on the possibility of agreeing a time to pay arrangement with HMRC. "At the same time we were also asked to confirm our opinion of what rights a funder of future season tickets would have in the event of an insolvency. This was in contemplation of funding a time to pay arrangement with HMRC. "As we were not aware of the nature and extent of any arrangements for season ticket sales we were unable to provide specific advice without full detail and our letter of 7 April 2011 is clear on this point. "Indeed we state in this letter that we had not had access to documents or knowledge of contractual terms either of any proposed ticketing agreement or proposed purchase from the Murray Group and as a consequence we could not provide further advice without this detail. We did not receive further information and therefore we could not provide further advice on this matter. "At the time of the acquisition, Craig Whyte indicated that he would be able to fund settlement of the big tax case of up to £15 million but we were not involved in the raising of funds or providing corporate finance advice. "We were provided with a copy of a draft email to Ticketus dated 19 April 2011 that mentions the possibility of raising funds, but does not provide any information of quantum or terms of such a proposal. To suggest this email establishes an awareness of Ticketus providing acquisition funding is absurd and ridiculous. "We, along with solicitors acting for the Murray Group and Lloyds Bank, were provided with information from Collyer Bristow to confirm that Liberty Capital had funds at their disposal to both acquire the debt of Lloyds Bank and provide sufficient working capital to satisfy the concerns raised by the independent committee of the Club. The financial forecasts that we had sight of showed the original cash injection to acquire the Club was from Wavetower and not Ticketus. "It is clear now, with the benefit of hindsight, that material information was withheld from us, and others, prior to the acquisition of the Club and, once we discovered the full extent of the funding relationship between Ticketus, Liberty Capital and the Club, we took immediate steps to raise our concern with controlling directors of Rangers and HMRC. "Throughout this process we have acted professionally and provided opinion and recommendations to avoid an insolvency of the Club by outlining alternative courses of action to the directors. We did provide the controlling directors and company secretary of the Club with our written concern that failure to meet their statutory duties could lead to a claim of wrongful trading, however the controlling directors and company secretary always maintained that insolvency could be avoided through the introduction of new capital and/or fundraising with supporters of the Club." Paul Clark, joint administrator, said: "For the BBC to suggest that I deliberately misled or lied to Mark Daly is both grossly insulting and unacceptable to me as an officer of the court. During my conversation with Mr Daly on Feb 22, which was off the record, I said I thought that MCR became aware of the full scale of Ticketus funding in July or August. I gave an honest answer to the best of my recollection as I had not been closely involved in the Rangers takeover work at the time. "For the BBC now to accuse Duff and Phelps of conflicts of interest and unprofessional conduct based on a deep misunderstanding of the true picture is downright irresponsible and defamatory and we will not let the matter rest there. "There is a world of difference between knowing that Ticketus was a potential source of working capital funding for the Club and its new owners (Craig Whyte/Wavetower) - which is our position - and knowing that funding from ticket sales had been effectively used to purchase the Club. The BBC have failed miserably to make that distinction. "At all times during our involvement with Rangers, we have kept HMRC, the Club's largest potential creditor fully informed of developments. These communications included several meetings. When the question of our appointment was considered by the Court of Session on 14 February 2012, HMRC decided to withdraw their application for their own nominees to be appointed as administrators, instead allowing our appointment to proceed. We have continued to keep HMRC fully appraised of our work as Administrators since 14 February." http://www.rangers.co.uk/news/football-news/article/2786614

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