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  1. The BBC has learned former Rangers chief executive Charles Green is seeking financial support to launch a new bid for control of the Ibrox club. Green led a consortium which bought Rangers' assets in May 2012 and then raised £22m from a share issue, but resigned from his post last year. He returned for a short-lived spell as a consultant before selling his shareholding in the club. However, he has spent the last week in talks with potential investors. Rangers plan to launch a new share issue in a bid to raise in the region of £8m and if Green is to be successful he would need to convince existing shareholders to sell to a new consortium. Green, who held the same position at Sheffield United, stood down from the chief executive's position citing the "negative publicity" surrounding an independent investigation, commissioned by the club's board, into allegations of undeclared dealings with former owner Craig Whyte. That investigation consequently found no evidence of Whyte's claims that he was involved in the Green-led acquisition of Rangers two years ago. On selling his shares to Sandy Easdale, chairman of Rangers' football board, Green said: "I want to make it clear that this means I will have no ongoing influence or financial interest at the club but I remain a fan and fervently hope that Rangers will soon be back at the top where they belong."
  2. Rangers' beleaguered directors face the possibility that the club auditor, Deloitte, could sever its connection with the club over the next few weeks, following a collapse in the number of season tickets sold. The Daily Telegraph understands that the international corporate finance and accountancy specialists are unhappy about the latest figures emerging from Ibrox, which show that season ticket sales for Rangers’ Scottish Championship campaign are running at half the level of last year’s take-up for their SPFL League One schedule. In a statement on the Rangers website on Friday, the board confirmed that only 17,000 season tickets have been sold. On March 27, when Deloitte signed off the half year accounts up to the end of 2013 – which showed a £3.5 million loss – the auditors added that “key assumptions” made by the directors included a reckoning of future season ticket sales. Deloitte noted that this indicated the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern. Despite assurances at the annual general meeting in December from the chief executive, Graham Wallace, that the club could meet its costs until the end of the season, the board subsequently borrowed £1.5 million from shareholder George Letham on the assurance that the sum would be repaid when season ticket sales had yielded the equivalent amount. *However, there has been no notification to the Stock Exchange of any repayment. Instead, leaked reports from a spin doctor formerly employed by the club, confirmed that the board would attempt to raise £8 million through a rights issue later this year. In a statement on the club website on Friday, the Rangers directors said of the latest season ticket sales total – and the likelihood of a share issue – that “The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. “The Board continues to evaluate its plans in this regard and will update the market in due course.” However, should Deloitte dissociate themselves from Rangers, investor confidence is likely to diminish. Deloitte last night would not comment on any speculation, citing client confidentiality. In response to the club statement, the supporters’ umbrella group, the Union of Fans, condemned the directors’ stewardship. The UoF statement read: “We note the announcement of the Rangers board regarding the season ticket renewal levels for the club this year. It is now obvious that a clear majority of fans have rejected Graham Wallace, Norman Crighton, David Somers, James and Sandy Easdale and their running of the club. “In any normal business, a board which had been rejected by over 50 per cent of its customers in the space of a few months would be removed. Whilst we do not expect this to happen due to the continued support of anonymous shareholders, who could not care less about Rangers, we would highlight that they have utterly failed to gain crucial trust from fans. “We do not believe this trust will ever be built without fundamental change at the club. The problem for this board is very simple. The vast majority of fans, even many of those who have renewed, simply do not trust them and likely never will. “The corporate governance at the club also continues to be a cause for grave concern. We would repeat that it is unacceptable for Jack Irvine of Mediahouse to have access to confidential, price sensitive board information through the Easdales and to then leak that information to the press as he did this week.” J
  3. The board of Rangers (the “Board”) can confirm that approximately 17,000 season tickets have been renewed to date for the Club's forthcoming SPFL Championship season. This level of renewals reduces the potential requirement for short term financing as highlighted in the Business Review Summary published on 25 April 2014 particularly given the updated season ticket pricing structure for the 2014/15 campaign. Applications for new season ticket purchases opened on Monday and sales of season tickets are continuing. The Club very much looks forward to welcoming more supporters back to Ibrox for what promises to be an exciting league competition. The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. The Board continues to evaluate its plans in this regard and will update the market in due course. http://www.rangers.co.uk/news/headlines/item/7059-season-ticket-sales
  4. keith jackson ‏@tedermeatballs Why would BDO spend over 600k in legal fees liquidating RFC? I suspect they're speculating to accumulate. Bad news for craig whyte.
  5. .....as bill for winding up oldco Rangers continues to soar. Jun 09, 2014 12:26 By Keith Jackson THE staggering figures are revealed in the latest six month report from insolvency experts BDO - which shows more than £1m has been spent on legal fees and outlays ACCOUNTANTS and lawyers have raked in a staggering £2m in 12 months as the bill for winding up oldco Rangers continues to soar. The mind blowing figures have been detailed in the latest six month report from insolvency experts BDO who were appointed as liquidators of the Rangers Football Club PLC after it failed to emerge from administration following Craig Whyte’s ruinous 10 month reign. And the unfathomable strategy adopted by Whyte is further highlighted by the fact that almost half of this latest £2m bill has been covered by the final instalment of the £4.5m deal which saw Nikica Jelavic sold off to Everton just two weeks before the club was plunged into financial chaos in February 2012. The BDO report, which was completed at the end of last month, reveals that a cheque for £975k is expected to arrive from the Goodison Park club ‘shortly after 31 May 2014’. But that windfall won’t come close to covering th.e spiraling costs of the on-going liquidation process - as BDO gear up for a potential multi-million pound courtroom battle with Collyer Bristow, the law firm who advised Whyte during his takeover in 2011. In total, more than £1m has been spent on legal fees and outlays with more than £650,000 of it going to solicitors Stephenson Harwood, who are preparing the case against Collyer Bristow. The report says that a trial date is ‘currently set for the beginning of 2015’ but it is anticipated that a deal could be negotiated and an out of court settlement agreed. BDO are also carrying out a probe into the conduct of administrators Duff and Phelps, who sold the club’s assets to Charles Green for a knock-down £5.5m. But the report stresses: “Due to the highly sensitive nature of certain aspects of these investigations, we consider that it is not appropriate to provide full details in respect of our investigations to date,”. BDO reveal that the creditors pot has been boosted by a payment of £75k ‘in relation to the transfer of Charlie Adam’. But, while they are attempting to claw together as much cash as possible for those who suffered from the Rangers collapse, their own running total for remuneration stands at more than £1m which, the report says, has already been drawn down. BDO expect more money to trickle into the account through from a sell-on clause triggered by Jelavic’s January move from Everton to Hull City, possibly as much £187,500 so long as the Croat helps keep his new club in the Premiership next season. But one creditor who has received this latest update from BDO told Record Sport last night: “The fact that Everton still owe almost £1m from the initial Jalvic deal defies belief. It’s good new for the creditors but it makes you wonder what on earth Whyte was thinking about when he did that deal, just a fortnight before placing the club in administration. “He sold the club’s best player for a snip and yet he didn’t even demand that the money was paid up front. It’s incredible as, for that matter, are the sums of money involved in this on-going process. The collapse of Rangers has made an awful lot of money for an awful lot of people.” But another source said: "BDO are doing a highly professional job in going after as much money as possible for the creditors. The fact they are ploughing so much into the legal cases is an indication of where this thing is headed. "There should be a lot of very worried people out there because BDO are going after them like a dog at a bone." BDO admit, two years into the process, there is no sign of it coming to a conclusion any time soon. Not only is the court action against Collyer Bristow still to be settled but an ongoing dispute with HMRC over the club’s use of the controversial EBT scheme also continues to rumble on. The report says: “If HMRC are successful in the appeal their potential claim in the liquidation could be significant and have a material impact upon any dividend that may ultimately be payable to unsecured creditors,”. And it ends: “Due to the significant issues to be resolved in the liquidation, the joint liquidators do not expect to be in a position to bring this case to a conclusion for some considerable time. Further reports will be circulated to creditors within six weeks of each six month anniversary of the date of liquidation.” http://www.dailyrecord.co.uk/sport/football/football-news/revealed-accountants-lawyers-rake-2m-3665381
  6. GRAHAM WALLACE says Rangers now has a solid base from which it can move forward with confidence as it looks to grow, prosper and thrive more as time goes on. Wallace has spent the weekend in Toronto at the 2014 NARSA convention, where over 1,000 Light Blues fans have been in attendance. The chief executive took questions in an open forum yesterday afternoon following the association’s annual general meeting. A number of issues were raised with him and Wallace is keen to reassure Gers followers a path to a brighter future lies ahead. He said: “It has been interesting talking to a different cross-section of fans in Toronto as it was an opportunity to hear at a really detailed level about some of the issues they have. “Almost since the day I came to Rangers, we’ve been operating in an environment where there have been consistent questions about the financial stability of the club. “I’ve repeatedly come out and said there’s no threat of administration and we’ve built a very solid base now which we’re moving forward from. “The fans should take reassurance and comfort from that. We are moving in a way that allows us to grow and develop the business. “The long-term financial stability of the business is well in hand and we are in a good place now. Fans should be confident and comfortable with the club’s long-term stability. “The club needs them to survive like any business does and we are absolutely hoping they will stand behind and support the club the way they have in recent seasons. “In the vast majority of areas, I think we are moving in the right direction and it is business as usual at the football club. “The fans are looking for a degree of confidence that their club is stable, it’s being properly run and we are in a good position financially. “We are now in our best position financially in my time at the club so that’s positive and we are placed very well for the start of the forthcoming Championship campaign.” Wallace admits there is still considerable work to be done as Rangers bid to make up for what he feels has been a missed opportunity to rebuild in a better way since administration in 2012. But he is sure a lot key moves have now been made which will allow the League One title winners to make more notable strides from now on. He added: “I’ve been in position now for a little over six months and in that time it has been extremely challenging. “There have been so many legacy issues we have had to deal with and we spent a considerable period of time looking at the condition and the state of the business. “We had to map out what we think the club and the business is capable of doing over the next several years. “We have done a tremendous amount of groundwork and we’ve addressed a significant number of issues. “In April, we published our business review. That gave fans a sense of what we inherited but more importantly, a sense of the vision of where we think we can take the business. “We have made significant strides but it’s not an overnight journey and what we are looking for now is to move forward again. “We want to go through our pre-season routine into the new season and really push on, starting to make a huge difference in the areas we’ve identified.” http://www.rangers.co.uk/news/headlines/item/7029-a-base-to-grow-from
  7. FORMER Ibrox chief executive Charles Green has been thwarted in a bid to dissolve the company at the centre of major dispute over the ownership of Rangers. The Yorkshire businessman who fronted the takeover of Rangers through the purchase of liquidated assets, has twice tried and failed to have the firm used for the purchase, Sevco 5088 Limited, struck from the companies register, it has emerged. Experts say the move, if it was successful, would have undermined future court action by former Rangers owner Craig Whyte and business partner Aiden Earley over Rangers ownership. The three men are currently locked in a legal battle over ownership of the Rangers. Club auditors Deloitte previously raised concerns over an "uncertain outcome" of the potential litigation which they said remains a key uncertainty hanging over the business. Donald McNaught, business recovery and insolvency director at Johnston Carmichael said: "The dissolution of that company would significantly undermine any right of action. "If that legal entity is the vehicle that is entitled to an action, then it is fundamental to any later legal action, because it is the party with the rights." Mr Whyte had always insisted he was the main driver behind Sevco 5088 - the company identified by administrators in May 29, 2012 as being the newco that was "contractually obliged" to purchase the assets and business of operating company RFC 2012 plc which was in administration. Mr Green denied in April, last year that Mr Whyte or Mr Earley were involved in Sevco 5088 and said director documents lodged at Companies House were not valid and it is understood were referred to police by legal firm Pinsent Masons. Mr Whyte produced recordings of a conversation between the pair, with Mr Green appearing to tell him: "You are Sevco, that's what we are saying." Mr Green said at the time: "This is correct but at that point I had signed a resignation letter and a stock transfer form because it was decided that a Scottish company should buy a Scottish institution. Sevco 5088 wasn't required." In April, last year, Rangers International Football Club plc, the holding company which owns the assets, said that Sevco 5088 was not an active subsidiary describing it as a "defunct non trading company". Termination proceedings began in 2012 and documents show RIFC claim it would have been struck off by the Registrar of Companies had "false claims of directorships" not been filed. A statement on the Rangers website on April 12 said Mr Green was the sole director of Sevco 5088 and he had resigned to be the founder director of Sevco Scotland Ltd, the company he transferred Rangers' assets to once the CVA had failed. By October, last year, RIFC had spent £600,000 contesting the claim by Mr Whyte and Mr Earley. This month it emerged Mr Earley was banned from being a director in Britain for five years. But the Insolvency Service has given sanction for him to remain as a director of Sevco 5088. It was understood this is connected to the court battle over Rangers' ownership. In the last attempt, Mr Green was the only signatory to application to dissolve the company. Applications have to be signed by all or the majority of directors. Following an objection, the proceedings were suspended. No further details were available. According to Companies House rules, a request for dissolving a firm can be made if it is not subject to any legal proceedings, current or proposed and has not traded within the previous three months. http://www.heraldscotland.com/news/home-news/green-fails-in-legal-bid-to-dissolve-rangers-company.24368891
  8. We are currently in the process of gathering together names of individuals and representatives of fans groups, RSCs, websites, etc who are willing to come along and help find a solution to the infighting amongst our fans. If you are interested in attending the meeting could you please email info@thelouden.co.uk (or you could dm/pm us) with your name and any group that you wish to represent or are a part of. To be clear, any individual who wishes to attend to try and help our support is more than welcome but we would appreciate an email so as to know the numbers. Regarding the format of the meeting, we are looking for suggestions on what specifically the meeting should cover. We are not discussing the politics at the club, we are only focusing on the way fans communicate with each other. This is not about which side is right or wrong. We do not need everyone to agree about everything but at all times we should be civil to one another. The meeting will be held in the lounge area of the pub and no alcohol will be served for the duration of the meeting. If anyone wants any other information, please ask. Thanks We Are The People God Bless The Rangers The Louden Tavern: Ibrox Stadium - More than a Pub Official Partner of The Rangers Football Club *We are responsible for The Louden Tavern: Ibrox Stadium, 111 Copland Road, Ibrox, G51 2SL solely and are not involved in the operation of any other premises
  9. I am in Mallorca at the moment, and was devestated at yesterday's news reference the Glasgow School of Art. Perhaps the club might utilise a bit of foresight and organise a Friendly to rase funds for repair. Hstorically, Rangers have a good track record in this regard. Maybe Atletico Bilbao with their modern art footprint?
  10. Could we? Once saying - " I think Rangers are a great team with lots of potential. I follow them in the Scottish league." FRANK LAMPARD today hailed the Rangers fans as amazing' - and backed the Ibrox club to join Chelsea in this season's Champions League. The England man revealed that Jose Mourinho's stars were gob-smacked by the reception they received from the home fans in Saturday's 2-0 friendly defeat from Walter Smith's side. Lampard, and skipper John Terry, saluted the Ibrox crowd at time-up, and the midfielder claimed it was the best friendly he'd ever played in. "The Rangers fans were awesome, all the lads were talking about it," said Lampard. advertisement"The reception I got when I went to take corners during the game, and after when we were going off, was really nice. "They certainly love their own team, but it was very special to get that welcome. It was amazing really, and a very good game to play in for us, certainly the best friendly we've had. "With that kind of backing from their crowd, they will be hard to beat. And I expect to see Rangers in the Champions League." Sp!vs want to sell season books, well get your cheque books out!
  11. This arrived a wee while ago. Three surveys were issued comprising of Fan Engagement 2, Club Membership and Digital & Media. More than half the respondents from the initial survey said they would participate in further supporter engagement initiatives to help shape the Club’s Ready To Listen campaign. From that 50%, the uptake was overwhelming with over 86% of fans completing the Fan Engagement 2 survey, 58% completing the Club Membership survey and 66% completing the Digital & Media survey. Fan Engagement Key Findings 88% of fans see the Club’s Website as the key channel for information regarding the Club with Email coming a close second at 71% and Social Media at 60%. 64% of fans use Email as the key mode of communication with the Club and 51% via Social Media. The 5 areas that fans are satisfied or very satisfied with in terms of communication with the fans are - Club Website, Matchday Programme, Email, Social Media and Ticket Centre. Fans do not see the Hotline as an effective method of communication with less than 1% citing this effective. Fans are happy with the level of Email communication with 66% feeling the Club does not communicate too frequently. 43% of fans interact with the Club on a daily basis. Awareness of the Club’s Supporter’s Services department is low with only 21% aware and of those only 13% had used this service. Those who did use the service found it a positive experience with 60% stating it was courteous and 44% stating it was knowledgeable. The top 5 channels fans would like to communicate with the Club were: Surveys, Email, Q&A Sessions, Open Days/Evenings and Social Media Polls/Conversations. The most important channels of communication were Email, Q&A Sessions and Open Days/Evenings. The establishment of a Fan Representation Board was seen as the most effective way to improve Club and supporter engagement with 74%. The majority of fans believe the Fan Representation Board should have between 6-10 members and it should comprise members with a relevant professional expertise (83%) and Season Ticket Holders (80%). The Fan Representation Board should be re-elected and the largest % of fans at 46% felt a term of 2 years maximum was acceptable. The Fan Representation Board should meet on a monthly basis according to 65% of respondents and 78% agreed that there should be a Club representative in attendance and 93% agreed that a member of the Board should also attend. To view an infographic of the Fan Engagement survey 2 results click here. Club Membership Key Findings “Bringing me closer to the Club” (45%) and “Increasing my involvement with the Club” (41%) were deemed most important in terms of Rangers Membership, with “providing me with exclusive merchandise pack” least important (2%). Top 3 Rangers Membership benefits perceived as providing “value for money” were: Retail Merchandise Discount, Free Stadium WIFI and Exclusive Merchandise. 61% of participants felt a members-only email newsletter should be issued “Monthly”. 61% of participants felt that receiving a gift pack wasn’t an important part of a Rangers Membership. A Rangers Membership scarf was perceived the least important membership pack item (Average Score of 3.14) compared with a Membership card (Average Score of 3.74). 94% of participants think the “ability to vote on Club initiatives should be a benefit of Membership”. 95% of participants think that people on the Fan Representation Board should be Club Members/Season Ticket Holders. Priority tickets for Premium Games was perceived the most important benefit to enhance matchday experience (Average Score of 4.15), Digital Matchday programme was perceived the least important benefit (Average Score of 3.26). 54% participants have children/relatives, but 80% of these children/relatives aren’t Season Ticket Holders however 53% of them attend matches. Top 5 Rangers Membership benefits that represent value for money for kids under 16 are: Player Mascots, Retail/Merchandise Discount, Membership Pack, Online Games/Competitions and Kids Video Content. To view an infographic of the Club Membership survey results click here. Digital & Media Key Findings 99% of all respondents said that they use the Internet on a daily basis. 82% of respondents confirmed that they access the Internet via a PC or a Laptop. However, 76% also said that they use a Mobile Phone with 60% accessing via a tablet. Only 38% of respondents indicated that they watch videos about Rangers on RangersTV, with more watching video content on rangers.co.uk (59%). YouTube was the most used website to watch Rangers videos (78%). 53% of respondents said that they visited the Club website rangers.co.uk on a daily basis, with a further 35% identifying that they use it on a weekly basis. Only 5% of fans said that they used the website monthly. When asked to select a statement that best reflected their opinion of rangers.co.uk at present, 55% of respondents selected “It’s good but I also go elsewhere”. Only 1% of fans said they thought “it’s terrible”, however only 8% said “it’s fantastic and has everything I need”. 68% of fans felt that the content on rangers.co.uk appeals to both ardent fans and casual fans, however only 13% felt that the site was first with news. Less than 50% of people said that they could find everything they wanted easily (40%) and that it was visually appealing (45%). 44% of respondents felt that match reports were timely, factual and accurate, 45% felt they were objective and 63% felt that they were of a good length. Regarding picture galleries, 66% felt they were easy to use, but only 32% felt that they captured the emotion. 85% of fans confirmed that they do not subscribe to RangersTV, with 56% of those who do having a RangersTV Standard subscription. Price was the most significant factor for people who have subscribed previously to RangersTV and cancelled, with 41% not wishing to pay for video content at all and 34% indicating that the subscription is too expensive. Regarding video content on RangersTV, match content was what fans wished to see most, with 88% wishing to view Live Matches. Other areas they would like to see include Archive Matches (59%), Interviews (61%), Highlights (66%) and Documentaries (63%). Only 46% of respondents indicated that they buy the matchday programme and of those, 49% said that they do so every game. 63% of fans said that the reason they do so is because it’s a collector’s item. People who don’t buy the programme said that the reason for doing so was that they didn’t feel it was value for money (72%). 57% said that they would be interested in a digital version of the programme. 75% of respondents said that they use a social media platform with Facebook (79%) and Twitter (68%) the most used. 39% of respondents either agreed or strongly agreed that Rangers engages well on Social Media, with 32% either disagreeing or strongly disagreeing. 46% of fans felt that the Club provides news effectively via Social Media with 26% either disagreeing or strongly disagreeing. To view an infographic of the Digital & Media survey results click here. Next Steps More focused face-to-face meetings in the form of focus groups will now be facilitated at the stadium with fans who had expressed a wish to continue their involvement in this initiative. The first set of focus groups will take place next month on Fan Engagement with a minimum of 4 groups being held. A representative sample of Rangers fans will be included in each group to share their individual views and will be invited to participate on a first come first served basis. A range of topics will be covered and this will be outlined in the initial correspondence for each focus group. These initial focus groups will be followed by further focus groups on Club Membership and Digital & Media in the coming weeks and months.
  12. Bawsburst on RM hinting at something happening soon with this recently formed company by Laxey pic.twitter.com/Nc8zHXA8Dn So Laxey's Kingsnorth registers a new company called GreenWhiteStar UK PLC. How disgustingly ironic
  13. http://www.yorkshirepost.co.uk/sport/football/leeds-utd/new-leeds-owners-will-buy-back-elland-road-for-15m-1-6322034 BUYING back Elland Road for around £15m tops the list of priorities for Leeds United’s prospective new owners, the Yorkshire Post has been told. A consortium led by United managing director David Haigh is bidding to buy a 75 per cent stake in the Championship club. The group - which is believed to include Andrew Flowers, the managing director of current shirt sponsors Enterprise Insurance - have signed a share acquisition agreement with GFH Capital, the Dubai-based firm that purchased United from Ken Bates a year ago. Football League approval is now being sought as this buyout would be the second of the club in as many seasons. Providing there are no late hiccups, the Haigh-led consortium is expected to take charge early in the New Year. As revealed in this newspaper yesterday, re-signing former Player of the Year, Max Gradel, in the January transfer window is high on the list of targets for the prospective new owners. However, sources close to Haigh’s group have also made it clear to the Yorkshire Post that buying back Elland Road will be their top priority once at the helm. United’s home was sold to Manchester businessman Jacob Adler for a knockdown £8m price in November, 2004, as mounting debts threatened to drag the club under in its first year outside the Premier League. Ownership passed the following year to Teak Commercial Limited, a firm based in the British Virgin Islands. Included in the initial sale and leaseback deal with Adler - and something retained in the subsequent sale to Teak - was a buyback option that allows the club to purchase the stadium at a set price. That amount rises each October and today stands at £15m. Also subject to a raise of three per cent each October is the rent United pay to Teak, which this year will cost the club £1.4m. Since Elland Road was sold to Adler by the United board that was led by Gerald Krasner, United have paid around £11m in rent. Removing that financial millstone from around United’s neck will, the source close to Haigh’s group insists, be the overriding priority providing the expected takeover goes through early in 2014. Regardless of whether the club’s would-be new owners are successful or not in that quest, United’s tenancy in LS11 is secure thanks to the terms of the 2004 sale and lease-back arrangement - a deal in which the owner of a large asset, such as property, sells it and then immediately buys back from the buyer the right to use the asset under a lease for a fixed term at a pre-arranged rent. In United’s case, that agreement was for a 25-year lease that, once at an end in 2029, can be extended by a further quarter of a century. This means Leeds’ future at Elland Road is safe for at least the next 41 years. Haigh and his fellow would-be investors, however, are well aware that buying back the ground would be the clearest signal yet to supporters that the club is moving in the right direction. If they are successful in that quest, it will be the second time in a generation that United will have bought back their home thanks to improving financial fortunes. The first instance came in 1998 when Peter Ridsdale’s board paid £10m to Leeds City Council for the stadium, which along with the surrounding land had been sold 13 years earlier to the local authority for a quarter of that sum. Crippling debts of around £1.5m had forced the 1985 sale on the club. History then repeated itself in 2004, though by then the sums involved had multiplied dramatically. Krasner’s board had taken over Leeds in March of that year but relegation just a couple of months later hit United very hard. A fire-sale of players such as Alan Smith and Mark Viduka during that summer bought the club respite for a time but by the early months of the 2004-05 campaign it was clear Leeds were still in the financial mire. Debts that had, at one stage, stood north of £100m when the takeover went through had been slashed to around £25m. However, punishing repayments to Jack Petchey, a London-born businessman who had once been chairman of Watford and an Aston Villa shareholder, for a £15m loan taken out by Krasner and his fellow directors when buying the club had started to bite. After negotiations with a number of parties that included Sebastien Sainsbury and local businessman Norman Stubbs floundered, the United board was left with no option but to sell the club’s only two remaining assets of substance - Elland Road and Thorp Arch, the latter’s sale raising £4.2m. Once the two sales were concluded, the remaining debt of £9.2m to Petchey was cleared. United’s financial woes continued, however, and the club was subsequently sold to Bates the following January. At his first press conference, the former Chelsea chairman said: “It is our intention, in the fullness of time, to exercise those options and bring the land and stadium back where they belong.” Scarcity of funds, though, meant those wishes went unfulfilled with a bid to buyback Thorp Arch floundering at the 11th hour in 2009. Similar sentiments about purcahasing Elland Road were expressed by GFH Capital following their December 21 takeover last year but, again, nothing concrete came of the plans.
  14. Alasdair Lamont ‏@BBCAlLamont 33m Rangers chief exec Graham Wallace on £320k pa + 100% bonus. Plus £25k salary increase as Rangers move up leagues. More to follow.
  15. Given the silence eminating from the board room it has become clear that the current custodians of our club have no interest whatsoever in appeasing the fans fears. The bare faced truth is that they tried to pull a fast one with the meeting with Wallace. make it look like theyre doing the right thing by communicating with the fan groups and trying to deceive those who havent renewed their SBs. Some are saying that theres a split in the boardroom. i for one dont think so. It was a last throw of the dice driven by sheer desperation to get some more fans to buy sbs. They are now banking on raising enough money to get them to the start of the new season. they will mortgage everything down to the kitchen sink to raise cash if they have too. They will anticipate 40 000 plus with every home game when the new season starts. and if they get those numbers they will get the money to fill their boots. We need to starve them out . that means empty stadiums until their hand is forced. Its not about just supporting the team, its about saving the club and its future. give this lot money and you are signing the clubs death warrant. I implore every fan to boycott our home games and drive these cretins out.
  16. Some comparisons with Ann Budge's Hearts and our Rangers from yours truly on TRS: http://www.therangersstandard.co.uk/index.php/articles/current-affairs/323-rangers-own-budgement-day-is-coming
  17. Lorenzo Amoruso urges Rangers supporters to put their trust in Dave King to oust Ibrox board Sunday 11 May 2014, by Stewart Fisher LORENZO Amoruso last night became the latest former Rangers player to call for supporters to back Dave King and Richard Gough's plan to boycott season tickets and place the money in a trust instead as a means of forcing major boardroom change. The Italian has emerged as a fierce critic of the current hierarchy and feels that placing funds in Ibrox 1972 Ltd, the vehicle introduced by King and already being used by supporters groups' the Union Bears and the Blue Order for pooling their funds, is the only mechanism for bringing about change. "Too many people have been touching the heart of the club who don't deserve to be so close," said Amoruso. "They have ripped out the soul of the club. It's so frustrating for people like me who were running, chasing after every ball, spitting blood sometimes and going through so many operations. " I didn't do all that to see this situation develop. We want to see better people control the club, people who really care about Rangers. "I didn't really encounter Dave King much when I was a player because he was in South Africa a lot, but I met him," said Amoruso, who was in Glasgow this week. "He was a director but not involved in the way David Murray was. But he is a Rangers man and he is putting himself out there and he deserves credit and support. He has been there before for the benefit of the club. "This is a crucial period because season ticket holders have a week left before deciding whether to renew and from those I've spoken to I don't think there is a feeling that supporters want to renew and I think that is the best solution. "It's hard to believe I am asking for the stadium to be empty. But if that is what it is going to take to get this board out then that's the way it has to be. There are easier ways to solve this problem but some people don't want to listen. That's why we must take a hardline approach. I'm sorry, this board just has to go." http://www.heraldscotland.com/sport/football/lorenzo-amoruso-urges-rangers-supporters-to-put-their-trust-in-dave-king-to-oust-ibro.24190175
  18. THOSE Rangers supporters who have so far not renewed their season tickets for next season are currently facing some stark choices. Do they pledge their cash to Ibrox 1972 Ltd, the company launched by the Union of Fans group this week, and hope security will be granted over the stadium? Or do they give their money direct to the club as usual and book their seats for home games in the SPFL Championship in the 2014/15 campaign? Alternatively, they can sit back and see how the stand-off develops during the summer months before deciding how to proceed. What the Light Blues fans do, and in what sort of numbers, will determine the short-term future of the troubled Glasgow club. There is certainly backing for the scheme to withhold cash in the company that has former director Dave King and club legend Richard Gough as trustees. That is despite the fact the Rangers board stated once again this week that it "has no intention of granting security over Ibrox to anybody". Many fans were alarmed when it emerged that both Edmiston House and the Albion car parking facilities had been used as security for two loans of £1.5million earlier this year. And there are serious fears that institutional investors, who have seen the share price tumble since the IPO in 2012, may seek to maximise the club's assets in future. George Thomson, a law student from Paisley who has been a season ticket holder for 10 years, is one of those who will be putting his money into Ibrox 1972 Ltd. He said: "I think there comes a point where you have to say: 'Enough is enough.' "And this, for me, is that point. I will be withholding my season ticket money from the club. "I am unhappy at how the club is being run and have no faith in this board. I think we need change at the top in order to move on as a club and I would like to see Dave King involved. "He is a Rangers fan and has money that he is prepared to invest that could make a real difference to us. How many of the current directors or investors can say that?" Yet, there are also many supporters who are unsettled by the path being taken by King and the Union of Fans and the implications it may have for Rangers. David Somers, the club chairman, has stated there would be a serious doubt over the Govan club's ability to continue as a going concern if fans withheld their cash. James Clark-Dick, a retired quantity surveyor from Uddingston who has been a season ticket holder at Ibrox for nearly 30 years, is against the plan. He will be renewing the three season tickets he has in the Copland Road Stand - he attends every home game with his wife and daughter - and believes he is in a "silent majority". He feels that withholding money from Rangers in the coming weeks could actually help to bring about the eventuality that King and the Union of Fans are hoping to avoid. "Withholding season ticket money from the club this summer until security is granted over Ibrox seems like a ludicrous idea to me," he said. "I don't think it is the right way to go. "My worry is that if you push the shareholders enough then that (utilising the club assets) is just exactly what they might do. It might be what they have to do." The 63-year-old feels there are many Rangers fans like him whose views are not being represented by the supporters' organisations which comprise the Union of Fans. "I have met and spoken to Chris Graham (the Union of Fans spokesman) on a few occasions in the past and he came across well," he said. "But Chris and others like him are described as fans' representatives. Well, I am a fan and I don't have a representative." Given the gross mismanagement of previous regimes at Rangers, Mr Clark-Dick admitted he was "cautious" about the current custodians of the club. However, he also has serious misgivings about South Africa-based businessman King getting involved and the company that he has set up. He said: "I'm not pro-board and I'm not anti-board. I'm neither. I'm pro-Rangers. And I don't think this idea to withhold season ticket money is a great idea. "If it hadn't been for this campaign then I think we would have been all right. And apart from this season ticket fund, I don't know what plan Dave King has for the club. "Everybody has criticised the Rangers review. But what more did people expect? You are only ever going to get the bare bones of a business plan in a review. "I have been a shareholder for 30 years. The last batch of shares I bought were the fourth lot I have acquired. And the review is the most information I have had out of Rangers during that time. "They detailed exactly where the £67million went. They showed that £26m was used up in one-off costs. "That is the most clarity we have had." What the future holds for Rangers, though, will remain shrouded in uncertainty until it emerges how many supporters have renewed season tickets and how many have withheld. At the moment, it is too close to call. http://www.eveningtimes.co.uk/rangers/rangers-fans-divided-by-loyalties-162650n.24161559
  19. “We note the latest attempt by this board to mislead and hold Rangers fans to ransom. Their latest “give us your money or the seat gets it” ultimatum is just another in a long line of misjudgements this board has made about the mood amongst the support in general. The fact that those now in the crosshairs of this board are a lifelong Rangers fan who has ploughed millions of his own money into the club with no return, an iconic captain from one of the club’s most successful ever periods and a group of Rangers fans attempting to secure the home of our football club, says more about this board than we ever could. There is no attempt to deprive the club of funds. This is made very clear in the security proposal and the board’s ham fisted attempt to misrepresent this is one of the few transparent things they have done since coming to power. No money will be taken from fans unless security is granted and we are of the opinion that the board’s reluctance to discuss granting security may well rapidly change. Our public comments about Mr Wallace are not personal but have been based on his binding pronouncements on matters of huge importance which have been at best misleading, broken promises for engagement with fans, attempts to blame fans for the current precarious position of the club and a complete lack of any progress in bringing much needed investment into the club. We welcome the fact that the entire board have now publicly taken responsibility for all of these actions. Once again we see meaningless sound bites with absolutely no substance to back them up. The result, no doubt, of the expensive PR man hired by this board with more urgency than a Chief Scout. What “significant progress” has been made? How will this “bright future” we are promised come about when the investment committee have failed to secure a single pound of investment? Rangers is certainly “dear to all of us”, the Rangers support. We have no idea why this board would attempt to claim the same when there is not a single fan amongst them. We do not believe that Rangers fans will fall for this again. We’ve seen it far too many times in the past two years. “ - See more at: https://www.ibrox1972.co.uk/statements/#sthash.5zQnzija.oJfk0OFG.dpuf
  20. Richard The Lionheart And Balls Of Steel From The Board Richard-Gough The team that drinks together wins together. A legendary quote attributed to Richard Gough which the former Rangers captain assured me today he didn’t actually say. Gough phoned me to respond to my Balls Of Steel blog and to defend his own part in the Ibrox1972 venture, which I have called a bootleg Rangers.I have to be honest and say that Goughie left me in absolutely no doubt that his intentions are sincere and that he is doing what he is doing for the benefit of Rangers. During our conversation he kept stressing his dismay that the supporters were so divided and it was refreshing to engage with someone in the anti-board camp who is free of the bitterness that is spouted by reb ringleaders. Gough did not at any time during our lengthy conversation say anything derogatory about Rangers directors; in fact, he stressed he was sure that they had Rangers’ interests at heart. I got the impression that his concerns were more about what has taken place over the past three years and the present board’s ability to deal with this than any supposed “****very” in the boardroom. What we both agreed on was that we wanted to see more positive action from the board in response to the club’s present condition. Goughie admitted to me that he wished he had said more in the past, particularly about the Craig Whyte fiasco but agreed with me that many of us were taken in by Whyte because we wanted to believe. As he has said elsewhere, the big man did not hesitate to respond to Dave King’s request that he put his name and reputation behind the season ticket fund. He admits he had no idea what he was getting into or he may have given it a body swerve but with the same steel he displayed as a player and the decision-making that brought him fame and renown as a world-class defender, he said “No, the truth is I had to do it because I felt it had to be done. I just want what’s best for Rangers Football Club.” I again have to be fair and say that it was refreshing to hear Goughie reiterate that fans who want to renew with the club should do so. He claimed that Dave King was just trying to give fans some security as Admin 2 was a real possibility. Cynics may see more to King’s motives than a benevolent interest in fans’ monies and that his actions were designed to bring about Admin rather than avert it. His personal advice, he says, would be for anyone unsure of whether to renew or pledge to Ibrox1972 would be to withhold money from both and pay on a game-to-game basis. I have to say that big Goughie is not a devious person anyway and he is undoubtedly sincere in his concerns and intentions. He is also honest about his own naivety and lack of expertise in the greyer areas of the project he and King are embarked upon. He is not a schemer or a wheeler dealer but I agreed with his summary of things. “Ultimately it will all be decided at shareholder level,” said Gough. As I pointed out, King knows this only too well and his use of fan power is designed to exert leverage on the shareholders. Richard Gough doesn’t seem to share the militancy that King and his UoF supporters have in getting fans to join the fund. His attitude is that it is up to fans to decide. Domiciled abroad, Gough is unsurprisingly out of touch with the mood of fans, especially since David Murray left the scene. But, as I have said previously, he deserves a say in matters Rangers. I don’t agree with his involvement in the Ibrox1972 project. However, I defend his right to have it and appreciate the sincerity of his motives. I also admire his sticking his head above the parapet. As Gough himself says, “When this thing is over, regardless of who wins, there will be people jumping on board the victory train. At least I threw my hat into the ring knowing it wouldn’t be popular with everybody.” One thing Goughie and I agreed upon was the need for positive action from the Rangers board. He alluded to my Balls of Steel blog. Just after our discussion I saw the statement by the Rangers board which was exactly what I called for in yesterday’s blog.
  21. Yet another good article with the questions a lot of fans have been asking plus some that have never been brought up before. Wednesday, 30th April 2014 In a week that saw the board of Rangers conclude their 120 day review into the business, Season Ticket renewals across the country are in various stages of action, with Dave King and the "Union of Fans" encouraging Season Ticket holders to pay their season ticket monies in to an Escrow account that is intended to hold and release funds when Rangers sign over securities for the Albion Car Park and Edmiston House to Season Ticket holders. With many of our members expressing concern that the "Season Ticket Trust" hasn't been made clear to them, we believe it is appropriate to seek clarity by asking the following questions of Dave King, and the "Union of Fans". It should be noted that we also have concerns about the 120 Day Review, and how the club plan to bridge an apparent cash flow shortfall, with the club £1.5M down before next season has even started Q - Has an Escrow account been set up yet? Q - If so, who is hosting that Escrow account facility, i.e. which bank? Q - Who are the Trustees of the account, other than Richard Gough? Q - How do I pay in to it? Q - If I pay in to it, what guarantees do I have over what seat I will be paying for, and that the seat will be in my name? Q - What written assurances do I get that the money will be returned, in the event that the assurances the Trust are requesting from Rangers are not granted? Q - What assurances, other than guarantees over Rangers owned assets have the Trust requested? Q - 66.6% of the loan value, not including interest, is due to Rangers Supporters Trust board member George Letham. Don't the Trust feel that withholding funds to Rangers runs the risk of Rangers defaulting on the loan to Mr Letham, and thereby Mr Letham theoretically stands to gain £1.075M worth of shares in Rangers International Football Club? Q - Can George Letham confirm what his plans are regarding his holdings if that share value is transferred to him, namely, will he retain ownership and voting rights, or will he proxy votes to the Rangers Supporters Trust (RST)? Q - For those who sign up for Away Tickets, how will they get tickets in future? Q - Do current Travel Club members stand to lose travel club points by using this Trust? Q - How will Richard Gough act as Guarantor as a resident of the USA? Q - What are the Administration costs of the Escrow account, and how will they be funded? Q - In the event that Rangers are willing to compromise over loan securities, with the agreement of Sandy Easdale and George Letham, who will become the signatory for these assets on behalf of Season Ticket holders Q - Do shareholders that live abroad with a shareholding in value higher than the price of a season ticket get any security? Q - Why was there no mention of the Season Ticket Trust, or any information about it in the UoF leaflet handed out last week? Q - Will the Trust facilitate split payments like those offered by the club to pay for Season Tickets (through Zebra finance over 4 or 10 months)? Q - Will Season Ticket Holders who have sat in their seat for a number of years be able to secure "their" seat at Ibrox, or will they stand to lose "their" seat? Q - Will money deposited accrue any interest? If so, what will be done with that money? Q - Where will the interest payments be shown? Q - Who decides exactly when the money will be released to the club and in what form? Q - Will the custodians of the account be separate and distinct from the organisations who wish only for the board's removal? Q - Will every member have a say in when the money should be released? Q - What exactly does the board need to do (beyond what they have) to make the monies available? Q - What lines of communication have been opened with the club to urgently discuss the aims of this project? Q - Who exactly has the authority to negotiate with the club? Q - How often will fans putting money into this scheme be updated of progress and by what medium? Q - What other transparency is guaranteed by way of communicating to those who pay in to the scheme? Q - Are other Rangers supporters' organisations involved in this scheme? Q - Are the Rangers supporters trust or any of their senior or high profile members involved at the core of this? Q - Will there be a board of Trustees in the scheme, and if so, how will they be elected? Q - How can supporters and contributors become involved to influence the decisions being made? Q - Are any previous board members of any of Rangers corporate entities, other than Dave King, involved? If so, at what level? Q - Are there any conditions attached to the Trust that require a nominee of the Trust to join the PLC board or the football club board of Rangers? Q - If so, how will that nominee be chosen? Q - Will the Trust be VAT Registered? Q - If the board acquiesce to UOF demands who will then hold first charge/security on the stadium rights to our club? Q - What IT problems could possibly delay implementation of the Trust? We trust that the relevant people involved in the Trust will both answer these questions and make themselves known to Rangers supporters, who are understandably cautious about contributing their hard earned money to a scheme that appears to carry a high element of risk. We feel that supporters should seek clarity both from the PLC board of the club, over their plans for the future, and from those promoting the Season Ticket Trust.
  22. DAVE KING has savaged Rangers’ 120-day review and branded it good news for CELTIC fans. The former Ibrox director dismissed chief executive Graham Wallace’s findings — claiming an office junior could have produced the same in a day.
  23. ... from Ibrox Noise. I know quite a few will jump in here and there, but maybe it would do good to read the article twice before go haring after specific things. Posted by Ibrox Noise at 10:26 It will come of no surprise that I agree with a lot IN has to say, including that I don't view the current status quo as ideal.
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