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When we went into administration I almost instantly (within the first month) had some major concerns because I quickly came to thinking that I didn't trust the administrators, didn't think they would get us out of it via a CVA and didn't think they seemed to be doing their jobs properly because if they had been, then they would have tried to rescue the company as a going concern. To do that, they would have needed to quickly address the cost base and stop the monthly loss-making, but they just went for a short-term fix/bandage to see out the season instead of properly cutting costs to address the going concern like administrators do in most football club administrations. After the shambles of their bidding process and finally bringing in Green & co (like they seem to have planned well in advance!), when D&P did their first presser with Green a feeling of dread & despair came over me because I could tell immediately that he was a bullshitting patter merchant and didn't trust him right from that point. It was a case of 'who the f**k is this clown?' and a distinct feeling of disappointment. Then we had to endure the failed CVA, being wrongfully stripped of our SPL share and kicked out of our league, left with no league at all for a period and questions hanging over our SFA license as well. When we finally got it sorted out and started the season in the 4th tier there was a sort of positive buzz that I never really understood, because I never felt as if it was right that we should be down there in the 3rd Division. I could obviously understand the positive buzz in the sense that we were still here with our history and titles despite the best efforts of our enemies and those who wanted (and tried) to kill us off, but didn't understand the positivity from numerous other perspectives, like the unprecedented treatment of our Club and the worries from footballing and financial/business perspectives. Not only did many of our fans think that it was just a simple case of 3 seasons of a journey back up through the lower leagues to the top flight, but many actually believed that it was an 'opportunity' to rebuild not only the business, but some kind of fabled & mystical footballing 'philosophy'. There was talk amongst fans of not only winning every single game in the 4th & 3rd tiers, but battering the opposition 8-0, 9-0 or 10-0 every week. I didn't buy into any of that because I thought it was always going to be more difficult than many of our fans thought it would be. Yes, we would dish out some hammerings along the way, but it was always going to be a battle too, both on and off the park no matter how many SPL-standard players we signed and no matter how many crazy moonbeams Green & co served us up. What we need to do now though, is completely forget about any mythical 'opportunities' or lost chances to create new 'footballing philosophies' and face the stark reality of where we currently are. I'm not saying forgive or forget (far from it!), but we urgently need to get up to speed and deal in the here & now. Depending on how things go off the park this month, we might be heading for another insolvency/administration event, but we don't know for sure either way because nothing is certain on that front, just as nothing is certain on the pitch either. We might drop points or lose a match, but no matter what happens, I think we all know that the 'journey' is getting tougher and tougher and that's something which was always on the cards both on & off the pitch, so it certainly shouldn't come as a surprise. The idea of an easy journey back up over 3 or 4 years while creating golden seeds for the future amidst new philosophies for the Club was a total and utter pipe dream. Even if we had been taken over by good guys instead of chancers and liars like Green & co, we were still realistically facing trouble along the way and potentially a period of 5 years or more before getting properly back on our feet and challenging in the top flight again. We might not be in a good position right now, but essentially, nothing has changed and we're still on the same path albeit a slightly more windy & rocky one than many of our fans seemed to think it would be. Our progress back to where we belong might still be set back even further by current and/or future financial issues, but we don't know for sure yet. What we do know for sure is that the people running the show need to collectively get their acts together, steer the Club in the right direction and ease the worries of the supporters, not through more moonbeams and lies like were served up in the past, but by addressing the immediate future as openly and honestly as they can without damaging the value of their precious shares.
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http://www.dailyrecord.co.uk/opinion/sport/keith-jackson-six-men-six-4181483
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"A turbulent week at Ibrox has put the club's future once again at risk. RANGERS face an instant SPFL disciplinary investigation if they fail to pay their players and coaching staff at the end of the month, it was revealed last night. Former director Imran Ahmad’s court victory on Friday, freezing £620,000 of the club’s dwindling £1.2million cash reserves, leaves the beleaguered Gers board struggling to make payroll. Now, if they default, rules introduced two years ago on the back of Hearts’ problems leave them no wriggle room. The potential punishments only apply to the club defaulting on its football wages, not an administrative salaries they have. However with their staff due their cash in the bank on September 25, the last Thursday of the month, sources believe they could be cutting it neat with a monthly burden of around £700,000 to meet. Regulations E17 and E19, introduced by the old SPL and carried into the new SPFL rulebook, cover any breaches of remuneration to players, coaches and management. Any default will be hit by an instant registration embargo. They will also then be subject to disciplinary procedures, which allow the governing body sanctions ranging from a slap on the wrist to docked points to exclusion from the league. The Ibrox club’s hopes of avoiding that scenario now rest with the success of their forthcoming £4m share offer, although from that figure, they’ll have to deduct a six-figure sum for costs plus £1m to cover the loan given to them by businessman George Letham. Director Sandy Easdale claimed in our sister paper the Daily Record in midweek that he wouldn’t be calling in the £500,000 he had lent. However Mailsport understands Letham, who has already given the club one extension on the terms he agreed, which saw his loan fall due from season ticket money, is adamant he’ll now take what he is due because he would rather have his cash back than be left with the car park his money is secured against. Rangers also no longer have any regular retail income following their decision to outsource that branch of their business to Mike Ashley’s Sports Direct, a move revealed earlier this week when 51 staff from their stores were TUPE’d acros to the the billionaire’s company payroll. It’s believed that although SFA rules prevent the Newcastle United owner extending his shareholding in the club, he could yet bail them out with loan payments to tide them through the coming months. The potential cost of those, both financially and to the club’s powerbase, is still unclear." http://www.dailyrecord.co.uk/sport/football/football-news/revealed-rangers-face-immediate-spfl-4177789? Comment: I realize it may be scaremongering and "the Mailsport understands" sounds almost like "We hope...". It is all so familiar, sadly, this kind of communique
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September 6, 2014 / billmcmurdo The Ibrox boardroom wars are still rumbling on, with the board doing more damage to themselves than the rebels can inflict. I am dubious of the so-called latest revelations – that Sports Direct magnate Mike Ashley was sold the naming tights to Ibrox for the price of 8 AAA Sony batteries. My feeling is this is an attempt to get the directors to release the real figure but if it turns out to be true, it is a massive hit against the beleaguered board. If the deal was made based on projections of Sports Direct selling boatloads of RFC merchandise, then it was still a poor one. The ball is now in the board’s court to reveal the true price of re-branding Ibrox. I have always backed the present regime but it is increasingly hard to muster confidence in their ability to steer the club through this difficult year. It doesn’t help that the board is hopelessly split, with CEO Graham Wallace having been “Matherised” i.e. converted to the rebel cause. Truth be told, Wallace has failed to provide the leadership and bring stability to matters behind the red brick facade on Edmiston Drive. The grand plan of the Fans Board has not galvanised the fan base but has been a monumental waste of time, effort, money and energy. Wallace’s alignment with those who have choked the sale of season tickets so necessary for the club to progress is a cave-in of epic scale. That said, the board’s feeble response to this has not helped engender confidence. I championed another contender for the post of CEO but was more than happy to support Graham Wallace when he took the reins. Now it is all a cod and the vultures are circling, ready to swoop in for the kill. It looks like the next phase of the Ibrox Civil War will be a head-to-head between Mike Ashley and Dave King. Question marks arise over the ability of either to invest substantially – both may be curtailed by football rules and in King’s case, he could be blocked by regulation here and in South Africa. Ashley will no doubt be turned into the antichrist by a Rangers-hating media here in Scotland. There is a consortium of people who are desperate to get hold of Rangers and if they cannot get control of the club on their terms, then they would rather see the club go under. King is their champion and this means he is their weakness. You get the feeling that when and if he is ever asked to actually pony up the money, he will not produce. Should the consortium prevail, with or without Daddy King’s involvement, Rangers will probably never be as dominant as they were at the peak of the SDM years but they will challenge Celtic for the Premiership. Success in Europe will be a pipe dream. Ashley and others are Rangers’ best bet of going to a higher level. Their vision and collective financial clout exceeds by far the grasp of the consortium. It is all about a clash of ideologies and visions. The problem for this board and investors like Mike Ashley is that they are trying to fight a battle based on AIM regulations against people who are not bound by these. The battle for Rangers is a street fight, a rammy, not a game of bridge in a gentlemens’ club. It’s time the board at Ibrox realised this. “Ground on which we can only be saved from destruction by fighting without delay, is deadly ground.” SUN TZU
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you really cant make the fiasco that were in up. 70 million pissed up a wall in 18 months. Money being shipped out the club at all angles. Inflated salaries on and off the park with gross mismanagement being being the order of the day. We now find ourselves living on the edge of oblivion once again. Our current board are way out of their depth. Backed by shareholders who bought into the charles green revolution, only to find out that in the grand scheme of things that hes taken everyone for a ride. We are being run by a board who are guilty of stupidity, niavety and downright arrogance. These guys get to see the books. They knew about mike ashley and the incredible deals he struck with Green. The ones with no benefit to the club whatsoever. They lie to the the fans promising things that they cant produce when the chips are down but still expect the fans to come through the gates to finance their incompetence. Now we are living on a week to week basis with the club being run by the seat of its pants. There is only one way the club can go from now on and that is down. No amount of share buying from supporters groups or anyone else is going to save the club. it will only prolong the agony. Administration looms again and its not if, its when. and it will be back to the drawing board again.
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I know a thread on this may be a bit OTT, but we need something to cheer, so: "Rangers Ladies @RFC_Ladies 1m Goal! Mulvey makes it Celtic 0-3 Rangers. 69 minutes played"
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Do you remember when we knew what Celtic players looked like? Do you remember how we would listen in nervously when they played, hoping that they'd falter? The football landscape has changed so much in Glasgow that the city is no longer an Old Firm goldfish bowl. Instead, the two sides function in separate atmospheres. With no Old Firm interaction, each has become a stranger to the other. The current Celtic team could walk past me in the street and I probably wouldn't know who they were. For Celtic fans, due to Rangers being run as a retirement home for elderly footballers, they have no difficulty in recognising Rangers' established guys, but many of our players are unfamiliar faces to them too. There was a time when fans of each side knew the other lot almost as well. They didn't need to learn the enemy team, they just knew it. Not so long ago, a Rangers-supporting friend of mine used to chat fairly regularly to a fellow dog walker. It turned out that he was talking to a leading Celtic player, and yet he had no idea. This surely couldn't have happened in the past. We knew them and they knew us. Now, Celtic's profile has dipped as a consequence of Rangers being in the football wilderness. Ours has dipped too, of course, although Rangers is such a dysfunctional entity that it retains a profile of sorts by providing a daily source of amusement to the nation. Apart from the obsessed element in the Celtic support though, which keeps Rangers under intense scrutiny at all times, there is a realisation within the Celtic fraternity that the game is up for Rangers. The laughter has abated and they even feel a degree of sympathy for us. They are looking at a future now that might not be seriously challenged by Rangers, and as they come to terms with it, there is a grudging realisation that they are poorer for it. Now that the big two has been reduced to the big one, the intensity has disappeared, the temperature has cooled and the colour has faded. Celtic fans are living in a monochrome world where the competition is either walkover material or too good for them. It is a bore. It's not boring being a Rangers fan, though. The football may be rotten but when was clinging to a life raft ever boring? Rangers fans are living out an outrageous soap opera where each twist is more absurd than the last one. This Rangers saga could not have been made up or engineered even by a bitter and hateful enemy. It is a tale of woe beyond imagination and comprehension, and with every day that passes, the realisation dawns that bouncing back is hard to do when the ball is burst. The leading figures at Rangers have become cartoon characters. There is nothing that they do which shocks or surprises. Talk of the stadium being sponsored for the grand total of £1 is eminently believable. This is the calibre of people Rangers FC is run by in the 21st century. Every statement, announcement or comment from the club is greeted with ridicule and dismissed as being symptomatic of a failed and toxic regime. Rangers has ceased to be a credible entity. It is crumbling and falling apart. We are often reminded when we complain about politicians that we get the governments we deserve. If the same can be said of the governance of football clubs, the Rangers support must have been guilty of something dreadful, or maybe we're just not that bright. Either way, Rangers fans have an allegiance to a club that is an asylum for the clueless, the calamitous, the absurd and the avaricious, and it is conspicuously rotten from the front gates of Auchenhowie to the top of the Ibrox Stadium flagpole. I have long believed that Rangers had a sell-by date. I always suspected that it was going to become an unwelcome institution in a changing world. I was concerned too that it would fail under 'private' ownership. The only solution was to become a fan-owned club that embraced a new enlightenment, but our failure in this area has been as embarrassing as it is shameful. As we remind ourselves, almost hourly, what a mess it is at the top of the house, we really have to take account of our own inability to properly attempt some kind of rescue. We may have been turned over, but we have been passive, mostly inactive and even apathetic during this crisis. As per usual, we wait on a saviour, and if there isn't one, we just keep waiting anyway. When the lights go out at Ibrox, or when they become so dim that they can barely be observed, ask yourself - how will Scotland remember Rangers? Fifty years after Rangers' passing, how will our children and grandchildren remember the football club that is so much part of our lives? I suggest that Rangers will be remembered with the same kind of affection that BBC Radio Scotland and Radio Clyde currently have for our club. We will not be fondly remembered or missed. The country will be glad to see the back of Rangers and it will speak of us in a highly derogatory tone when enough time has elapsed to make us a distant memory. Bearing in mind our current predicament - and we are all aware that another collapse could be close - not only would we lose a club that is dear to us, as people, we would be marked down by history for having an association with a club that will almost certainly be remembered as a monument to bigotry. And with this double whammy in mind, what do we do? We wait, and wait, and then wait some more. History won't be kind to us for this either.
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Mike Ashley to up his stake in Rangers to 9.9% through the current share issue. Source SSN” Sources close to Mike Ashley say there are no immediate plans to invoke the naming rights at Ibrox stadium #Rangers @charlesp_sky: It's understood Ashley views his interests in Rangers as purely strong commercial ones which he intends to protect
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THE MAN THE BHEASTS CAN'T TAME N.O.R.W.I.C.H A saucy acronym that lovers write on valentines day just like S.W.A.L.K But it could also be used to describe the special relationship between Celtic and Norwich. I was watching the transfer deadline day or as its known in Scotland these days as MONDAY. Whilst I was childishly tittering at what appeared to be a purple marital aid being thrust into the face of a Sky sports presenter outside Everton’s Training complex. My mind was cast back to transfer deadline day a couple of years back. That night I sat down to watch that Excellent Transfer deadline day hosted by the equally excellent Sky sports Jim White, as a neutral spectator. Since my club couldn’t buy any players because of an illegal transfer embargo as ruled by a real law court, the court of sessions. A sanction, the club were blackmailed in accepting so that they could be allowed to play football in the bottom rung of the Scottish football establishment. T’was a bit of a damp squib. With only David Beckham’s move to PSG and Peter Odemwingie’s chaotic embarrassing saga grabbing the headlines. But there was one that grabbed my attention. As I have said before that pantomime season is all but over but there was still one set to unfold. Gary Hooper attempted “transfer” from Celtic and Norwich City. More: http://themanthebheastscanttame.wordpress.com/2014/09/06/knickers-of-and-ready-for-when-i-come-home/
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Regarding Mike Ashley, the question of dual club ownership and the rumoured '10% rule', for anyone interested in reading the exact rules in the current 2014/15 SFA Handbook (Articles of Association/rules & regulations) just have a quick read of Article number 13. titled "Dual interests in clubs" which starts on page 90 of the Handbook PDF document. http://www.scottishfa.co.uk/resources/documents/SFAPublications/ScottishFAPublications2014-15/Handbook%202014-15..pdf
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Why is there so much hatred towards SOS, UOF etc?
Ser Barristan Selmy posted a topic in Rangers Chat
Hugely irrational hatred. A huge chunk of our support still hate them despite everything they have been saying coming to fruition. What is this hatred based on? I'm not trying to instigate anything here (not that this is the place such a thing would happen), I just do not understand it. -
.......to save Ibrox as new cash crisis rocks Gers. RANGERS fan groups fear the club will not be able to pay next month's wage bill after court ruling while legend Andy Goram feels it may be too late to save Ibrox. FORMER Rangers director Imran Ahmad has succeeded in his bid to have £620,000 frozen in the club’s bank account. Lawyers for Ahmad claim he is owed a £500,000 bonus for the time he spent working as commercial director at Ibrox. They went to the Court of Session because they fear Gers are about to become insolvent. Ahmad is set to take his former employers to court later this year and is concerned that if he were to win his action, Rangers would be too poor to pay him. His legal team had failed on two previous occasions to obtain the order. But yesterday, after hearing claims that Rangers were becoming the “envy of English Premiership sides” for their financial position, Lord Stewart ruled there was still a “risk” of insolvency. He said: “I have formed the view that there is a risk of Rangers becoming insolvent. “That is not to say there is an actuality or a certainty insolvency is something that will happen. At this stage, it is only a risk.” Fans groups now fear Gers won’t be able to pay wages this month. Rangers have £1.2million in their account but the wage bill for playing and non-playing staff is thought to be close to £1m a month. Salaries are normally paid on the last Thursday of every month so they will be due on September 25. The club’s recently announced share issue takes place a week earlier and the beleaguered board are hoping to claw enough cash together from that to limp on. However, Chris Graham of the Union of Fans said: “This puts the club in a really difficult position. “With just £1.2m in the bank at the moment this will make it difficult to pay the next wage bill.” Graham also hit out at director Sandy Easdale and said: “Many fans will be wondering what on earth Sandy Easdale was doing speaking to the media just days before this case and outlining how dire the funding position at the club is. “Surely he should have realised that his comments were going to weaken our chances of getting a positive outcome from this case.” Another fan, Craig Smith, tweeted his 16-month old daughter “could have run Rangers’ finances better”. But the club last night claimed they were confident they would still be able to “operate as normal”. Rangers have sought leave to appeal and the court will deal with that request on Tuesday. A club statement said: “We agree with Judge Lord Stewart when he told the court: ‘This does not mean to say that insolvency is an actuality or is going to happen.’ “We remain confident that the club will be able to continue to operate as normal.” That came after Alan Summers QC told the court Rangers’ financial situation was improving. He said: “When we were last here, we heard how the share issue would only keep the lights on at Ibrox. “I can tell you the floodlights are back on at Ibrox and are in no danger of being switched off. “Talks are at an advanced stage with two potential investors. The club has not been in rude health for some time. But the situation is improving. The club is trading its way out of difficulties. Its current position is the envy of many English Premiership clubs.” However, Ahmad’s advocate Kenny McBrearty told the court there was no proof the share issue could keep the club solvent and insisted there was no guarantee investors would come forward. He said: “A pattern of diminishing working capital is evident. There is nothing concrete that there is a saviour for Rangers.” Many fans view Dave King as that potential saviour after the South Africa-based businessman promised to pump £30m into Rangers if the board were removed from office. He also set up a trust fund with fans’ groups so punters could commit their money to the club without handing it over to those in charge at Ibrox. But Rangers legend Andy Goram believes time is running out for King to stop the club from tumbling into administration again. The former keeper said: “I would like to see King doing what he has been promising to do for a while. “King threw a grenade in at the start of the season and stepped back. The longer he leaves it, the worse it’s going to get. “The fans had three choices this summer. You either paid season ticket money, went game to game or gave your money to King. “Now it needs something pretty quick. I see Jim McColl has saved the shipyard on the Clyde. “People like that, Rangers fans like that, I think the club is still important to them. “We don’t want to see it go down the tubes again. Administration again would be ridiculous. “If King’s timing is not right, if people don’t get the timing right with the investment, it could be too late. It’s getting pretty close.” Yesterday’s court ruling came after Record Sport revealed Mike Ashley’s Sports Direct firm had acquired the naming rights to Ibrox for just £1 – a move which has sparked fury among the fans. The Newcastle supremo is one of the biggest individual shareholders at Rangers and has also taken full control of the club’s retail stores. Those deals were struck during Charles Green’s time at Ibrox and Goram believes it would have been better for Rangers if someone like Fergus McCann had taken over after the first financial crisis. The canny Canadian helped rebuild rivals Celtic two decades ago by watching every penny. And Goram said: “Rangers needed someone like McCann to sort it out from the beginning. “The deals Ashley has done all happened when Charles Green was in charge.” http://www.dailyrecord.co.uk/sport/football/rangers-brink-new-cash-crisis-4173651
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ST JOHNSTONE are reeling after being handed a €18,000 (£14,230) fine after a fan waved a Palestinian flag, while Legia Warsaw have been hit by a UEFA charge over a banner attacking the governing body and Celtic The Polish side fielded an ineligible player in the final minutes of their 2-0 win over the Glasgow side at Murrayfield. Uefa awarded Celtic a 3-0 win, allowing them to progress on away goals to the play-off round, where they lost to NK Maribor. Fans of the Polish champions displayed a large image of a pig imposed on a Uefa badge and the slogan “Because Football Doesn’t Matter, Money Does.” The banner, surrounded by lit flares, was shown before Legia’s Europa League play-off victory against Aktobe of Kazakhstan last Thursday. Uefa rules prohibit messages of a political and ideological nature being displayed in any football stadium. Uefa said its disciplinary panel will judge the case on Thursday and potential sanctions could be applied when Legia open their Europa League group campaign at home to Belgian side Lokeren on 18 September. After Uefa’s ruling on the Celtic game, the Court of Arbitration for Sport denied Legia’s urgent appeal to be reinstated. It has still to consider the club’s request for compensation from Uefa for lost earnings. St Johnstone were charged after a fan displayed a Palestinian flag at one of their Europa League games. The Uefa match delegate spotted the banner being waved in the east stand during the 2-1 defeat by Spartak Trnava at McDiarmid Park. A St Johnstone spokesman said: “We have been told by Uefa that we’ve been fined €18,000 for the display of a Palestinian flag and pro-Palestine chanting at our game with Spartak Trnava. “We’ve asked them for a written judgement on this and are waiting for it to arrive. “Obviously it’s disappointing that this has happened but we need to see what the actual case is before commenting further.” The fine was handed out by the same Control, Ethics and Disciplinary Committee which will hear Legia’s case this week. Irish side Dundalk have already indicated they intend to challenge an identical €18,000 fine after Palestinian flags were shown at their Europa League tie against Croatians Hajduk Split. Reports in Ireland claimed Dundalk were stunned by the severity of the fine and have sought advice from the Football Association of Ireland over an appeal. Celtic have previously been fined €50,000 (£42,000) for a huge fans’ banner depicting IRA hunger striker Bobby Sands and Scots warrior William Wallace, which was shown at a home Champions League match against AC Milan last year. It is the third time in four seasons that Legia have faced Uefa punishment. The governing body responded to fans’ racist behaviour by closing a section of Legia’s stadium at a Champions League play-off last season. At a home Europa League match against Hapoel Tel Aviv three years ago, fans displayed a “Jihad Legia” banner in Arabic-style script across one end of the stadium. http://www.scotsman.com/sport/football/spfl/st-johnstone-and-legia-warsaw-fined-by-uefa-1-3527044
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CELTIC could not push through the transfer of the one player who arrived at Parkhead on the final day of the transfer window - but managed to sign another player who failed to turn up. Celtic chief executive Peter Lawwell started the day in bitterly disappointed mood after Serbia forward Stefan Scepovic pulled out of a move. Lawwell then targeted Manchester City striker John Guidetti, who arrived at Celtic Park for talks. Guidetti, who scored 20 goals in 23 appearances for Feyenoord on loan in 2011-12 before injury derailed his career, remained at Parkhead in the evening but a loan deal for the 22-year-old Swede was not completed before the deadline. And now the Hoops are set to got to UEFA and claim extenuating circumstances prevented them from lodging the paperwork in time. One scenario is that the Swedish striker could negotiate his release from Manchester City, which would make him a free agent and thus able to sign for Celtic outwith the transfer window. Guidetti has spent five years with City, but is yet to make a first-team appearance. Scepovic U-turn Scepovic revived his interest in a move to Celtic and signed the contract that had been prepared for him after he passed a medical and secured a work permit in Paris at the weekend as the clock ticked down towards the end of the window. The 24-year-old, who joined in a £2 million-plus deal from Sporting Gijon, had seen an alternative move to Getafe fall through because of Spanish financial fair play rules. Celtic did release four strikers with Amido Balde joining Beveren on loan for the season and Teemu Pukki and Holmbert Fridjonsson both moving to Danish side Brondby in similar deals. Bahrudin Atajic, who made four first-team appearances, was released. Celtic held on to Virgil van Dijk on the day the defender earned his first Holland call-up for a friendly against Italy and a European Championship qualifier against the Czech Republic. But another player leaving Celtic was Dylan McGeouch, who moved to Hibernian on loan until the end of the season but the Easter Road side failed in a bid for Leigh Griffiths. http://www.scotsman.com/sport/football/latest/celtic-to-appeal-to-uefa-over-john-guidetti-loan-1-3528085
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RANGERS fan George Letham has reluctantly agreed to give the Ibrox board a short extension to repay the £1million loan that was due last week. The wealthy supporter stepped in to lend his boyhood heroes the seven-figure sum earlier this year as chief executive Graham Wallace was forced to seek a quick fix to the Gers' cash crisis. As part of the agreement, Rangers were scheduled to give Letham his money back by the close of business on Friday, but after the Light Blues announced plans to raise around £4m in a share option last week, the prospect of him receiving his money appeared bleak. SportTimes understands Letham held full and frank discussions with Wallace on Saturday and agreed to a short extension to allow the under-fire board more time to come up with the money. With cash reserves running low at Ibrox, a refusal from Letham would have left Wallace and his fellow-directors with a huge financial headache. But after stepping up to the plate to help Rangers in their hour of need in March, the lifelong Light Blue was not prepared to pull the rug from under the board's feet at this time. The full extent of the Gers' financial plight was laid bare in a statement to the Stock Exchange last week when the board admitted that the future of Rangers International Football Club plc would be 'uncertain' if all 19 million of the new shares were not snapped up by existing investors in the coming weeks. Any funds that are raised will be used to pay off Letham's £1m loan and the £500,000 deal that was agreed with Sandy Easdale, both of which were secured against the Albion car park and Edmiston House. The Ibrox board originally clinched a deal with major shareholders Laxey Partners but that move came under huge criticism from supporters after it was revealed the Hedge Fund would collect £150,000 in interest payments for the short-term loan. Rangers had a cash balance of just £4.2m at June 30 this year, but with £2.7m of that unavailable as use for working capital, the board have been forced to issue more shares in a bid to repay Letham and Easdale and provide much-needed money for the coming weeks. With the financial picture once again bleak at Ibrox, boss Ally McCoist was unable to make any last-minute moves to bolster his squad before the transfer window closed last night. The Gers' two most valuable assets, Lee Wallace and Lewis Macleod, remain at the club, but seven players have gone out on loan - Barrie McKay (Raith Rovers), Calum Gallacher (Cowdenbeath), Danny Stoney (Stranraer), Luca Gasparotto (Airdrie), Robbie Crawford (Morton), Tom Walsh (Stenhousemuir) and Craig Halkett (Clyde). http://www.eveningtimes.co.uk/rangers/letham-gives-rangers-extra-time-to-repay-1million-loan-178673n.25212709
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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=12066370
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Bill Leckie; Fool me once, shame on you. Fool me twice, shame on me. If they don’t heed those words as the vultures circle Ibrox once again, then hell mend them. First time their club went to the wall, they manned the barricades to protect it from a big, nasty outside world. For that, no matter what other thoughts you have on the matter, their loyalty surely deserves to be applauded. But now? Two-and-a-half years on? If, despite being given a second chance to repair the horrendous mistakes of the past, a club with this level of support goes into administration AGAIN? Sorry, but if it was me I wouldn’t give them another penny. On Saturday, once more, thousands turned up brandishing red cards to express their unhappiness at the way the love of their lives is being mismanaged. And, once more, those responsible for the mismanagement laughed up their sleeves at the pointlessness of the protest. Because to brandish those red cards, you have to pay your money to get inside the stadium. Which hands yet more cash to the people you’re protesting at so they can go ahead and waste it. Listen, what do I know? They’re not my club and the one I do follow has never been to the heights Rangers have reached to suffer such a humiliating, disorientating fall. I’m just someone looking in and wondering how the hell, in all good conscience, Bluenoses can carry on regardless if and when the accountants take over the asylum once more. Actually, don’t answer that. It’s not a can of worms that’s worth opening, this We-Are-The-People, Rangers-Till-I-Die, stick-your-fingers-in-your-ears-and-sing-Follow-Follow mindset. So, for what it’s worth, let me instead pass on my suggestion for what they should do if their club re-enters the abyss. Sod it. Turn their backs on it. Give it, as a man on the other side of Glasgow once said, not one more thin dime. And instead, invest in the future of Scottish clubs who DO run their affairs honestly and who DO have respect for those who click the turnstiles. Go and back your old skipper Barry Ferguson as he tries to make things happen at Clyde. Go and see what another ex-player in Gary Bollan’s doing with Airdrie. If you’re from Fife, go and watch East Fife or Cowdenbeath. If you’re in Angus, hand your tenner to Arbroath or Brechin, Forfar or Montrose. If you donÂ’t want to give up your wee jaunt over from Northern Ireland, get off the ferry and stroll up to Stair Park. There’s been a school of thought among some these last couple of years that Rangers being forced to do the grand tour of the colonies meant the lower divisions should have been grateful for the gate receipts and the TV handouts. For me, this always got it the wrong way round. It was those inside Ibrox should have been thankful that they were in still in business and ABLE to head for Elgin and Berwick and Stranraer. Now, as fresh financial catastrophe looms, I’d put it to Rangers fans that they could do far more good for far more people if they stopped pouring money into what has long since ceased to be “their” club and started drip-feeding it to those who genuinely are the game’s lifeblood. Why? I’ll give you three good reasons. One, those halfwits in your directors’ box shouldn’t be trusted with the remote for the telly, never mind your wages. Two, that 30,000-odd of you spread among the country’s 20-odd part-time clubs would not only create better atmospheres but also help to cement football in communities for the long term. And three? You might just get to relax and enjoy the game, rather than always being angry and stressed about it. Watching Ayr United play Stenhousemuir might just extend your life. The alternative to this is a simple one. Stand your ground and, by your very presence, condone the halfwits in the directors’ box. Two-and-a-half years on from that first administration and the liquidation that followed, these halfwits need to scramble together £4million in a matter of days to keep their heads above water. To achieve this, they may need to flog their saleable players before the transfer window closes, which will hamper your hopes of promotion back to the top flight. If they don’t raise the money, they stand to suffer a 25-point deduction as punishment for a second spell in administration, all but ending those promotion hopes. How, with the wages they pay and the crowds they attract and the sheer intimidatory force of their name that is a two-goal start against far smaller opposition, can this possibly be? How the lumping hell can the people running a club the size of Rangers be handed the chance they were to start again, to build sensibly, to tool up for their return to where they want to be, and yet fail so utterly miserably? How? The clue is in the word halfwits. So maybe I’ve got this all the wrong way round. And it’s those Ibrox directors who should be sent to the outposts of the footballing empire instead. Maybe Graham Wallace and the Easdales and whoever else is a player in this embarrassing saga are the ones who need to go out into the real world and see how real football people operate. Trust me, if a month shadowing the treasurer at Albion Rovers didn’t shame them into living within their means, liquidation’s too good for them. -
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by Andrew Smith BY THE end of the current campaign, Celtic will have a record of four competitive victories in the Champions League group stages across the past seven years. They had a fifth win in 2008-9, but that came in their final game when they were already condemned to prop up the section. The club, then, are hardly heavyweights in the most glamorous European domain. They aren’t even light middleweights. The furore engendered by the 1-0 home defeat against Maribor in midweek that meant Celtic will have contested the Champions League only three times in seven years was, as the club’s chief executive Peter Lawwell said the other day, not “rational” but “reactive to a bad, bad result”. Yet, Celtic themselves are partly responsible for the fact the fans will flog them for failure in the qualifying stages of the Champions League since they continually set themselves up as “one of the best-run clubs” in the universe. A club so spectacularly well-run would not flop against (in Legia Warsaw and Maribor) not one but two clubs boasting a fraction of Celtic’s budget, it is legitimate to contend. Even with a new manager, as Celtic have in the yet-to-convince Ronny Deila. Not so, Lawwell contended. “It happened to Gordon [strachan], 5-0 [away to Artmedia Bratislava], happened to Lenny [Neil Lennon], with Utrecht, Braga and Sion, and it happened to Martin [O’Neill] , in Basel, and we never threw the towel in. We said ‘these things happen’; it is transition. It is happening to [Louis] van Gaal [at Manchester United], it happened to David Moyes. It is transition. In big clubs, it takes time. So that is wrong what you are saying.” Celtic’s strategy isn’t wrong. It doesn’t require a complete rethink. But they must do the right things correctly, and that is where questions are entitled to be asked. Overall, they have signed a bad crop of players in the past two years, and been too sluggish to replace the players they have cashed in handsomely on. It is not a matter of being done in by downsizing, however easy that line is to trot out. If Serbian striker Stefan Scepovic succeeds in filling the No.9 hole that has existed since the departure of Gary Hooper last season, then Celtic will have made £2.2 million work for them better than the near £6m they forked out in the previous two windows on Teemu Pukki, Amido Balde and Leigh Griffiths, three forwards Deila patently doesn’t trust. Celtic require to show a little more humility about the element of luck that determines whether their policies end up appearing visionary or vacuous. Lawwell at least offered up that the other day. “I hope you don’t think we are being immodest but when you are the target of the criticism [we have had], you have to defend yourself. And it’s not just us that are saying we are one of the best-run clubs in Britain and Europe… are we not that? “It is difficult. With the uncertainties, the risk. We don’t think we are God’s gift, we don’t think the strategy is flawless. Of course it is flawed, because it is football, and it is chance. Karagandy last year, they hit the bar. Callum [McGregor’s shot the other night] might have not hit the bar. In football you have to prepare for that and not think you are fallible, and prepare for being fallible. Which I think we have done. “Economically, we are far stronger than Elfsborg, Helsingborg, Karagandy, far stronger than Legia, far stronger than Reykjavik and Maribor. Far stronger. But these things happen. Far stronger than Inverness. But these things happen. If it was done on economics purely, then we should be in the Champions League every year. But there is a football element, a sporting element If we are in it three years out of five, we are doing well. We should be beating Maribor.” There is a tedious attempt to put Celtic’s recent struggles down to the absence of a Rangers in the top flight. Yet, Celtic now have a £10m reserve when, with the Ibrox club as top-flight rivals, they are in debt. Lawwell, though, doesn’t downplay the squeeze on finances caused by the disappearance of the rivalry, offset by nearly £30m player sales inside the past 15 months. “When Rangers went down, we took £100 off the season tickets. So that is £4m [down] for two years. The Rangers games bring in at least another £3m. The fact that there is a perception among our supporters that there is no competition and you are going to win anyway, and so you don’t go to the game, means you could have lost £10m a year, quite easily, on the back of Rangers going down. How we have coped is seeing that ahead and the strategy over that ten, 11-year period, has seen us successful on the park and stable off it, as Hearts and Rangers have gone bust. And yet we are still getting it [in the neck].” Deila might consider himself fortunate that he is not getting it more, with grumbles over his failure to convert a 1-1 draw away to Maribor into a home result that took his team through to the group stages. The Norwegian was willing to defend his tactics, which seemed higgelty-piggelty, for the fact he opened up in the second half when Celtic only needed to contain. “We were too passive in the first half and would have lost if we had kept going that way,” Deila said. “We need more offensive power and controlled the game and looked more of a threat with Kris [Commons]. And then they scored.” Deila has not seen new signing Scepovic in the flesh and said he has no reason to do so because of the trust he has in John Park’s scouting department, which has been “pretty successful” over four or five years. The manager is placing great store in the Serbian being the target man required, and the signing must work for him as Celtic go into a Europa League campaign against Salzburg, Dinamo Zagreb and Astra. Against the Austrians, Croatians and Romanians, none of who can match Celtic’s £32m football wage bill, he must show the team is progressing. Deila admits it is not acceptable for Celtic to lose in Champions League qualifiers to far more modestly financed opponents, but appealed for judgments on him to be reserved for now. If he wants a crumb of comfort, no new Celtic manager since Billy McNeill in 1979 has made any impact in their first tilt at European competition with the club. And, not coincidentally, McNeill had been in the job for a season when his first campaign arrived, after Celtic missed out on Europe in predecessor Jock Stein’s final campaign. “If we meet those teams [Legia and Maribor] next year and we lose like we did against Legia then I have to take the criticism. But it’s very unfair right now because a lot of things have happened, it’s coming straight into something and we’ve been losing players. “It has been tough, a tough ten weeks. I can assure you of that. It has been much tougher than I thought it would be. You can’t ever know what you are going into this job – you have to experience it. But I am enjoying it. I am in pain also sometimes. But you always have to have in your mind that you have to bounce back, that you have to find a way out of it. “We need time to get the squad back into the same order that it’s been in before. Consistency – you can see Van Gaal is buying the whole of Europe and isn’t winning so many games either. It takes time. Previous managers have come in here as well and not been the best in the first year but they have been allowed time to build his ideas and structure. Next year when I sit here – judge me and harshly if I haven’t done the things. This year the most important thing is to win the league and we want to do well in the cups too. To get the triple would be fantastic. “I want to use all the matches in Europe to see how good we are and develop through that. I hope we go through. Next year I hope we can go into the Champions League group stages and go into the qualifiers thinking: We look stronger, this is going to happen.” And if it doesn’t happen next year, the name calling won’t just be against Lawwell from the small cluster of malcontents that will gather at the front door. http://www.scotsman.com/sport/football/spfl/andrew-smith-celtic-need-to-show-more-humility-1-3526234
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CELTIC last night suffered a major transfer window blow as their £2.2 million deal for Stefan Scepovic collapsed. The highly-rated Sporting Gijon striker, 24, had been identified as Celtic’s main transfer target and looked certain to put pen to paper on a four-year deal with the Scottish champions. But the club, who last week exited the Champions League, were left deeply disappointed when the Serbian’s representatives indicated he would not be signing and will now move elswehere, with Getafe believed to be the front-runners. Manager Ronny Deila now faces a frantic final day scramble to bring in a forward before the transfer window closes at 11pm tonight. Deila also insisted that Leigh Griffiths will not be allowed to go on loan to Hibs after the striker came off the bench to score the equaliser in his team’s 1-1 draw with Dundee. Virgil van Dijk, who had hoped for a move to England and was left out of the team yesterday, has also been told he is going nowhere. Speculation about a short-term return to Easter Road by Griffiths has grown as the closure of the transfer window neared, and was heightened on Saturday night after current Hibs front man Farid El Alagui was injured in his club’s humiliating defeat at Alloa. But Deila refused to confirm that any club had approached Celtic about the player, and said his emphasis was on adding to his squad. “I don’t know,” he said when asked about a bid for Griffiths. “I haven’t heard that, but that’s no option. Leigh Griffiths is going to stay. No players are going out. It is important to get people fit and back from injury, get the new players in and get them playing matches so we have a strong and good squad for the fantastic games we are going to have after the next 14 days.” Celtic were far more potent in attack after Griffiths had come on, and they were also a lot more vulnerable at the back without Van Dijk, going behind in the opening minute to a James McPake header. “There has been a lot of speculation and a lot of thinking for him,” Deila said of the 23-year-old defender. “He’s a very important player for us, a very good player – and we’ve told him there’s no chance he is going to leave. He’s too important to us, so there’s no chance we’ll let him go during this window. We couldn’t replace him. So he is going to stay here. Of course it’s hard for him and he’s had a lot of thinking to do. But it will not be a problem. His girlfriend is also pregnant and due soon. So he hasn’t had the right focus. He wouldn’t have been 100 per cent today – that is why he didn’t play. “He needs a couple of days to get this out of his system, get thinking positively again. He’s a player we want to have and we’d like to sign him on an even longer contract. That’s how it is. We need good players here and we need to have his kind of player if we want to get the results we need. So that is no problem. “He had, of course, wishes to get to a new stage. He is a young player and he’ll get many chances in his career. But now we need him here and he knows that and that is how it is going to be.” Deila refused to say whether he or Van Dijk had made the final decision that the Dutchman would not be in the squad at Dundee. “We talked about it,” he added. “When you are not 100 per cent at Celtic you can’t play. Then other players can do a better job and that is how it is.” Deila hinted more signings were possible before the window closes, saying the club were “working all the time to see what the options are”. He refused to say whether Amido Balde would be allowed out on loan, and declined to comment when asked if he had made or would make a bid for Dundee United’s Stuart Armstrong. “We’ll see what’s happening. On Tuesday everyone will see what the squad is.” http://www.scotsman.com/sport/football/spfl/blow-for-celtic-as-stefan-scepovic-deal-collapses-1-3526698
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Yet another Sinky got wrong Just got a move to Norwich City that could net Falkirk £1 million. I watched him play in the same youth team as Darren Ramsay and Charlie Telfer for a couple of years, where as he may not have been the standout he wouldn't have been a candidate for release in my opinion. Gary Oliver who recently scored for Hearts, Lewis Spence and Lewis Martin who are now regulars at Dunfermline also played in the same team on occasions although they are a year younger.
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missed 2 penalties, otherwise it would have been 6-1 and the return game beyond doubt.
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..........but we want the 'right kind' of partner on board. THE need for a sponsor has never been greater, with clubs missing out on Celtic's Champions League cash bonus, but Iain Blair says that the powers that be won't be rushed into making a decision. Iain Blair of the SPFL SCOTLAND’S top clubs may have waved goodbye to a cash bonanza because of Celtic’s exit from the Champions League but SPFL chief Iain Blair says the season isn’t a write-off. Every Scottish Premiership club would have picked up £100,000 from UEFA had Celtic not crashed out to Maribor on Tuesday night. And with finances stretched, Blair admitted there was still no sign of a sponsor for our domestic league or the League Cup. He said: “We’re talking to people who are interested in the title and the cup sponsorship. Will it be this season? I can’t say. “We’d like there to be and we’re working towards that but I can’t say there will definitely be a sponsor this year. “People tend to have longer-term plans for their budgeted spend for sponsorship. “We only got to grips with it this time last year and although people think that’s a long time, with this kind of expenditure companies plan significantly in advance.” The news will not please club chairmen, especially with Blair insisting sponsorship had to be “the right kind”. So what type would the SPFL reject? He said: “We want someone who shares our values and ambitions. “It’s not simply a case of looking for someone who wants to publicise something, we want someone to partner us. “We need someone we’re comfortable working with. The guys are working on it as we speak and I’m confident we’ll get there.” Blair refused to adopt a pessimistic view after Celtic’s Euro flop, even though club bean counters will be putting away their calculators. He said: “Celtic can still progress in the Europa League and that could even help our co-efficient. So let’s not write the season off completely.” http://www.dailyrecord.co.uk/sport/football/football-news/spfl-chief-still-no-sign-4122017
