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  1. ...from SFA panel that includes.. Celtic boss Peter Lawwell. Dec 22, 2014 22:30 By Gary Ralston THE Ibrox club's new chief executive will have to set out the blueprint for the future of the club for an SFA group that will include his opposite number at Parkhead. DEREK LLAMBIAS will seek approval for Mike Ashley’s vision for the future of Rangers today from an SFA group that includes Peter Lawwell. The Celtic chief executive is a member of the SFA board that will meet with the new Rangers frontman at Hampden for talks on the way forward for the cash-strapped club. Rangers have been asked to detail the business plan and strategy behind any future investment from the Newcastle United owner. Llambias, who denied he’s on Ashley’s payroll at a stormy Rangers agm yesterday, declined to offer clarity on the Sports Direct tycoon’s involvement at Ibrox. He said: “I’m seeing the SFA and a clearer picture should emerge then.” The SFA board, which also includes chief executive Stewart Regan, president Campbell Ogilvie, Hibs chairman Rod Petrie and SPFL chairman Ralph Topping, have the power to veto any plans. They will be keen to hear if Ashley has ambitions to increase his shareholding or if he or any of his representatives plan to take up positions on the Ibrox board. There has been disquiet among fans about the involvement of Ashley under “dual interest” rules, which frown upon individuals holding key positions at two or more clubs. Strictly speaking, however, Article 13 of the SFA does not forbid Ashley having a sizeable stake in Rangers and Newcastle United, but he would require “prior written consent of the board” to increase his influence at Ibrox. The SFA board will hear Llambias’ blueprint and may ask for further details before giving their judgment on Ashley in the new year. The meeting today has been described as informal, but Llambias will be expected to shed light on a range of issues. He is likely to be asked, for example, why the Rangers board felt they had no option but to accept Ashley’s recent £2million loan when Brian Kennedy and Dave King had also come to the table with investment proposals. Lawwell’s involvement is an intriguing sideshow and, as talks progress, he may decide he is conflicted and step away from discussions. He recently admitted the absence of Rangers from the top flight of the Scottish game was costing his club £10million a year. However, an under-strength and under-funded Rangers effectively gives Celtic a free run at the Champions League each season and the riches it can provide. The talks with the SFA board are separate from the notice of complaint recently issued to Ashley and Rangers by an SFA judicial panel. Ashley and Rangers are accused of breaching an agreement he would not take control of the club and compliance officer Tony McGlennan acted after Ashley’s recent loans, totalling £3million, led to accusations he had been handed the keys to the door. Meanwhile, Rangers fans have urged Ashley to turn to Dave King or other wealthy Bluenose backers after supporters vetoed plans to open the club to £8million of fresh investment from non-shareholders. Only 45 per cent of shareholders backed a resolution aimed at inviting new investors into the club and it’s believed Ashley and the Easdale block voted against the proposals. Chris Graham of the Union of Fans said: “It’s disingenuous for the top table at the agm to recommend the resolution, only to apparently vote against it. “They clearly don’t want others to buy in without them having first interest. Legally, Dave King could still underwrite a new share offer and other backers, such as George Taylor in Hong Kong, have invested heavily recently. “I only hope Derek Llambias acknowledges the scale of the disconnect between club and fans displayed at the agm. He can have Ibrox half full for the foreseeable future or turn it round the other way. “Mike Ashley will still make money if outside investors come into the club.” Sandy Easdale refused to rule out involvement in future from the likes of King and Brian Kennedy. He told shareholders: “I’ve never dismissed any of these guys, they may yet be part of the future of this club.” Llambias, who stepped down as Newcastle managing director in June 2013, told shareholders he was committed to returning the club to the top of the Scottish game. Llambias added: “Not everything I do will be popular but everything I do will be in the club’s long-term interests. “We need financial stability off the pitch and great football on the pitch. We want to get Rangers back into the top flight and the Champions League. “That is our aim and hopefully next year I will give a much better speech.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-chief-derek-llambias-must-4859995?
  2. Sons of Struth Just now · I have just been informed that the lawyer claiming to be acting on behalf of Mr & Mr Easdale, Mr Somers and RIFC has submitted to the crown an action against me and the emails i released last night The action is NOT against authenticity nor publication but he believes the emails have been obtained through illegal means. How could you obtain an email illegally if it were fake? The action in its self proves authenticity. I shared this email with the Rangers fans for one reason and one reason only, to show the members of our board are more interested in self preservation than the future of our club, I done so in the belief that the public had to see the email i was in possession of and without concern to any future action against me, I believe I have done the right thing. I will not be bullied in my attempts to clear our club of those controlling it for their own benefit and wish every man removed who does not put Rangers interests in front of their own I am unsure of the outcome of this action and what i will face tomorrow so i will therefore be taking a break from online activity until this outcome is known and will leave the page to the moderators to oversee with no further posts until things clear up Merry Christmas and happy New year to all in the Rangers Family Craig.
  3. "Rangers chairman David Somers pleaded for Mike Ashley takeover to succeed, emails reveal" http://www.telegraph.co.uk/sport/football/teams/rangers/11311642/Rangers-chairman-David-Somers-pleaded-for-Mike-Ashley-takeover-to-succeed-emails-reveal.html Fot full Roddy Forsyth article, click link above -------------------------------------------------- This isn't just about Somers though, it goes deeper.
  4. ...if they want to get their club back Former Rangers chairman Malcolm Murray has told supporters to make some "noise" if they want to get their club back. The former pension fund manager was speaking after Monday's stormy Ibrox AGM. The 90-minute meeting saw PLC chairman David Somers, chief executive Derek Llambias, director James Easdale and his brother Sandy - chairman of the club's football board - face a barrage of abuse from shareholders. Chants of "out, out, out", "sack the board" and "scumbags" were hurled at the directors as they made their way out onto a flimsy tent erected on the Ibrox pitch. There was little detail given to the irate fans on how the board plan to bridge the £8.3million funding gap which currently separates the Glasgow giants from safety, other than to say a fresh share issue was to be expected, while Somers was the focus of much of the ire after comments which sparked even more anger. Despite the flak, the chairman, Llambias and James Easdale were all re-elected to the PLC board with the help of Mike Ashley and other institutional investors. But Murray claims the fans must act if they want to force real change. Speaking outside the AGM, Murray - who was the club's first chairman after it was reformed following its 2012 liquidation crisis, only to quit a year later after falling out with Charles Green - said: "That was the most arrogant display I have ever seen in third of a century of attending AGMs. "There was complete disregard for shareholders and fans. They say they will operate without fans. We actually ended up knowing less than when we started, which takes a bit of doing. "What can the fans and shareholders do? They have to make more noise. I am not saying they should boycott but they have to make a lot more noise. I think eventually the board will get worried that that the fans are not turning up and not buying kit. The mood in there, well, I have never known anything like it. "Will fans turn their backs on the club? In the short term, yes. But my message to the fans is to stick with it. We will be here a lot longer than them." http://www.eveningtimes.co.uk/rangers/u/murray-rangers-fans-need-to-make-some-noise-if-they-want-to-get-their-club-back.1419322367
  5. http://www.bbc.co.uk/sport/0/football/30582696 Rangers: SFA to hear case for Mike Ashley increasing stake By Richard Wilson BBC Scotland Rangers chief executive Derek Llambias will address the Scottish FA board on Tuesday to make a case for Mike Ashley raising his stake at Ibrox. The SFA has issued notices of complaint to the club and Ashley due to alleged breaches of dual interest rules. A disciplinary hearing will be held in January, but the informal talks about Ashley increasing his shareholding will be treated separately. Ashley currently owns 8.92% of Rangers International Football Club. But the Newcastle United owner has previously shown interest in raising that to 29.9%. When Ashley took his initial stake in RIFC, the SFA board granted permission on the basis that a case was made for his involvement. Article 13 of the association's rules state that an individual cannot hold stakes in two clubs without the prior permission of the SFA board. Ashley signed up to an undertaking to not raise his stake beyond 10% and to not hold undue influence over the board. After loaning Rangers £3m, Ashley's long-time associates Llambias and Barry Leach were appointed as consultants. Llambias was then appointed non-executive director and was appointed chief executive last week. He was previously managing director of Newcastle United, the club Ashley owns outright. Breaching the undertaking would bring sanctions from the SFA, but at the same time Ashley can still seek permission to increase his Ibrox stake. Rangers intend to hold a share issue in the new year, to raise up to £8m by issuing 54 million shares at a discounted market price - which is currently 18p. Llambias would need to make a business case to the SFA board, which will hold the discussions informally following a board meeting at Hampden, that Ashley is the only source of the funding that the club requires to continue trading. The offer of £16m of funding from a consortium involving former Rangers director Dave King has never formally been removed, although it would require the support of 75% of shareholders. At the annual general meeting, shareholders voted to approve the share issue, but rejected the disapplication of pre-emption rights. Derek Llambias at the Rangers AGM: "Not everything I do will be popular but everything I do will be in the club's long-term interests." When the share issue is held in January, existing shareholders must first be given the opportunity to maintain the size of their stake, or face dilution with new shares potentially being issued. A non-shareholder can still underwrite the issue, but they will not know how many shares they will end up with until after shareholders have taken up or declined their rights. Existing shareholders can also sell their rights to non-shareholders, or take up their rights and then leave the remaining shares unissued. This would reduce the amount of capital raised, although Ashley could agree to the refinancing of the £3m loan he made to the club and which is due to be paid back in April. Uncertainty continues at Ibrox, although Llambias also told shareholders that Kenny McDowall will remain as manager of the team until the end of the season "and perhaps beyond". McDowall was promoted from his role as assistant, following the decision to place manager Ally McCoist on "gardening leave". Analysis - Douglas Fraser: BBC Scotland's business & economy editor "Rangers badly needs cash - not for investment, but simply to stay solvent from month to month, "The only people likely to provide it are either going to demand very high interest rates, because of the risk of default, or because they're passionate about the club, or because it could give them control. "A company can go back to shareholders, offering them the right to buy shares in proportion to their existing holding to ensure no-one's shareholding need be diluted. "But the need for investment is such that the directors believed they needed to go much further with a big bang issue of new shares, giving more power to one or more new investors while diluting the power of existing ones. "Given the unhappy recent history of dominant shareholders at Ibrox, there's too much suspicion of directors for that to get past the annual general meeting, this year or last. "So it's back to those other options; seeking out short-term and expensive loans: or asking existing shareholders to find new funds for the club (after seeing the share price fall from 93p to 18p in the two years since the holding company floated): or looking to a rich individual who has an interest in gaining a controlling interest. "That's where Mike Ashley is key. The Sports Direct boss has nearly 10% of shares, and a merchandising partnership. His man, Derek Llambias, has just been made chief executive. "He's already bankrolled Rangers on apparently attractive terms. And he's got pots more money to keep doing so, though that would require an ever-bigger security over the assets. "At least one problem is that he's got to get past the Scottish FA, which wants an explanation for what appears to be his controlling interest in both Rangers and Newcastle United. "Unfortunately for the SFA, Mike Ashley could turn round and force them to face their own dilemma; either let him continue to invest in Rangers, thus taking control, or let one of their biggest club's collapse. Again."
  6. 19 December Rangers International Football Club plc ("Rangers" or the "Company") Appointment of Chief Executive Officer Existing Board member Derek Llambias has been appointed Chief Executive Officer of Rangers with immediate effect. Derek joined the Board on 2 November 2014 as a non-executive director. In line with the cost cutting exercise announced on 12 November 2014, Mr Llambias's remuneration will be significantly lower than previously offered for this position. Additionally, David Somers will now revert to his previous role as non-executive Chairman. Commenting on the appointment, David Somers said "I am delighted that Derek has agreed to step up to the Chief Executive role. This is a successful outcome to the process, announced on 27 October 2014, which involved interviewing a number of high calibre candidates. Derek has impressed us with his grasp of the issues since joining the group and brings a wealth of experience, particularly from his time at Newcastle United, which we feel confident will be invaluable to Rangers. ************** " which involved interviewing a number of high calibre candidates" Did it f@ck.
  7. RNS Number : 4108A Rangers Int. Football Club PLC 22 December 2014  Rangers International Football Club plc ("Rangers" or the "Company")
 
AGM Statement As previously announced, the Company's Annual General Meeting will be held at 10:30am today, Monday 22 December 2014, at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD. Access will be through Exit 30 of the Broomloan Stand which is adjacent to turnstile 64. Shareholders will have access to the Albion car park with access to the Stadium footprint for disabled Blue Badge holders to park near the entrance. Shareholders are asked to arrive in good time from 9am in order to clear the registration process. Shareholders should bring the attendance card which was included with the Notice of AGM, posted to registered addresses on 28 November 2014. In the event that the attendance card is lost, Shareholders should bring some other form of ID (a credit/debit card will suffice). Shareholders whose shares are held in a nominee account with their stockbroker will need a Corporate Representative's letter (issued by the custodian of their shares) in order to be admitted. Non-shareholders including guests of shareholders, will not be admitted. The meeting will consider the 9 Resolutions set out in the Notice of AGM, each of which will be subject to a vote by Poll, which will be verified by Capita Registrars Limited. The result of these Resolutions will be released to the London Stock Exchange by no later than 7am on Tuesday 23 December 2014. At the AGM the Chairman, David Somers, will make the following statement: "Welcome Ladies and Gentlemen to this Annual General Meeting of Rangers International Football Club plc. It feels like years since I last stood in front of you and it is amazing that it is only just over 12 months. 12 months ago, as I had just joined the Rangers Board, I was given the impression that the Club had enough money to see it through the first few months to the season ticket window. Sadly, I quickly discovered that this was not the case. The Board then began metaphorically to take up all of the carpets; after which we were left with a very long list of legacy issues that needed to be sorted out, often as our finances would allow. So in the first few months, we reviewed all of the contracts, the finances and the legal issues, ending up with a long list of legacy issues that would need to be dealt with over time. Since then we have spent many months focusing on these legacy issues dealing with them one by one. To be honest, it is frustrating dealing with legacy issues, because you are effectively looking backwards during this time and dealing with issues you didn't create yourself. I know that most fans will not really be interested in such efforts, because it is not about football, but these legacy issues and contracts have had to be dealt with so that we can begin to move forward. I was always taught to be cautious, so I hesitate to say that we have dealt with all of these legacy issues, as whenever I think that, another legacy issue quietly appears, but we do seem to have addressed many or most of them. One of our biggest remaining legacy issues is the weak state of the Rangers finances. In the financial area, we have been fortunate that a number of people have supported us with loans during the last 12 months, namely Sandy Easdale, George Letham and Mash Holdings. I sincerely thank them for their support, which in some cases, has included their loans being interest free. In the early days, while developing our list of legacy issues to be addressed, Graham Wallace wrote a review, which became known as the 120 day review. In this he indicated a desire to spend £20-30 millions in reaching the top levels of Scottish and European football. After visits to various City institutions the Board believed that such a level of expenditure would be supported by the City institutions, and the then monthly rate of loss, would also be supported by the shareholders. In the event, this was discovered not to be the case, because when we came to raise funds through a share issue, we soon found that there was a lack of appetite from shareholders to invest significant extra funds just to pay wages and utility bills. Accordingly, we have moved to cut costs significantly. Like any household, Rangers can ultimately only spend what it earns and, as has been reported in the media, we have moved quickly to bring our costs down and much more in line with our income. Rangers Football Club has been living beyond its means for many years and much of the cost cutting and efficiency improvements should have been addressed years ago by previous boards when we were in the lower divisions. But they weren't, so we are doing it. A material part of our costs relate to player costs, however, and these can only be addressed over a long period of time because of the length of the contracts. These contracts are often measured in years, not months. In these past 12 months, I have been surprised at a number of things. Firstly, the highly negative aspect of most of the media reporting regarding Rangers. Secondly, because it is clear to me that a stronger Rangers is good for Scottish football, I have been very disappointed to realise that outside of Ibrox, there sadly still exists a great deal of anti- Rangers feeling, perhaps (although I hope not) even in the football establishment. Rangers return to the top flight of our game, I am sure you will agree, will be more easily achieved if everyone who cares about the Club works together for the betterment of Rangers. This turbulent year has seen people calling for a season ticket boycott, seen the disruptive creation of a season ticket trust for a while and other negative ideas. Such negativity is expensive for Rangers as it reduces season ticket and overall ticket sales, increasing the likelihood that I will have to borrow money to cover the shortfalls created. Our path to restoring Rangers to where we all want the Club to be, can only be achieved with the continued support of all supporters, shareholders and business partners. 2013/14 saw Rangers Football Club complete the second stage of our rise back to the top of Scottish football and the year also brought another vital component for a new Rangers to emerge for the future - a structured and measured approach to rebuilding the football club. An unbeaten SPFL League One campaign was an excellent return for Alistair, his staff and the players and they deserve our congratulations. While we were all ultimately disappointed to have been defeated in both the Ramsdens Cup Final and the William Hill Scottish Cup semi final, our fundamental objective of achieving promotion was comfortably achieved with a points total into three figures. I was delighted that the Board was able to further support the Manager in providing funds for the recruitment of nine players in 2013/14 and also in the period immediately after the end of the financial year when we brought Kenny Miller, Kris Boyd, Steve Simonsen and Lee Robinson back to the Club, together with the signings of Marius Zaliukas and Darren McGregor. While the success of any major football club will always be benchmarked by its first team, a strong Youth Academy is also an informative barometer of long-term health and well being. It is very pleasing to see the quality and quantity of young talent being nurtured at Murray Park. Last season our Under20s won the SFA Youth Cup and narrowly lost out in the title race in the final week of the campaign. 57 players from our Under 14 to Under 21 age groups were called into international squads and three more Murray Park Academy graduates made their first team debuts. The ladies and girls teams have come a long way in a short space of time, enjoying significant success. In season 2013, the Ladies reached the semi final of the Scottish Cup, The Under 17s team secured the league, Scottish Cup and League Cup treble, the U15s and U13s finished second in the leagues and a new U11s team has been introduced. Internationally, the Rangers ladies teams have contributed 22 players to the Scotland teams across all age groups. We are charting our future strategy in the five key areas of: • Developing Football Performance • Focus on Player Asset Management and Youth Development • Re-connecting effectively to our Local and Global Fan Base • Developing Best in Class Commercial and Operational Capability • Strengthening Commitment to our Communities The year also saw Rangers make the first, important steps towards building an effective programme of engagement with our fan base. Fans were contacted via email, SMS, online and at matchdays to assist in our Ready To Listen Initiative, showing we are serious about improving communications and dialogue with all supporters. Subsequent focus groups took place in Ibrox with feedback generated helping to shape the direction of the Club's fan engagement strategy. I think that we would all agree that we still have work to do in this area and one in which we must increase our endeavours. Although we have experienced difficult trading conditions, there have been a number of important and positive, developments in our fiscal position during the financial year. A 32% increase in total revenue from £19.1m to £25.2m was recorded in the year ending 30 June 2014, with the majority of the uplift due to the first full year of our retail venture with our long term partner Sports Direct. Reduced revenues from gate receipts and hospitality are down from £13.2m to £12.4m and were a direct result of the lower matchday attendances from both season ticket holders and walk-ins. This shortfall was offset by increased revenue from sponsorship and advertising up from £0.8m to £1.5m illustrating the improvements in the Rangers brand perception. Proceeds from ticket sales were also adversely impacted by the decision not to increase prices of either season or matchday tickets from the previous season. Season ticket sales were sadly down from 38,228 in 2012/13 to 36,039 in the 2013/14 financial year, resulting in a fall in revenue from £8.1m to £7.7m in financial years 2012/13 and 2013/14 respectively. Our average home league attendance also fell from 45,111 in the 2012/13 season to 41,444 in 2013/14. Other Operating Income rose from £1.7m to £2.1m, a 22% increase, mainly as a result of hosting both Scottish Cup Semi Finals and an increased associated uplift in matchday catering revenues. At this AGM, we are requesting permission from shareholders to enable us to issue shares to improve the long term financial stability of the Club. We were not able to last year and I sincerely hope, for the good of the financial stability and future of the Club, that it will be forthcoming this year. We are now increasingly looking forward. An immediate priority is to re-build the Board with suitably experienced people and this is already well underway. We also need to look at the football side for a number of reasons. Firstly, there has for some time existed a chasm between the talented young players being developed at Murray Park and our first team. We need to focus on ways of developing our own young players for the first team rather than continually buying-in players. Secondly, as you all know Ally has decided to resign and has given us the required 12 months notice of his intention to leave the Club, as of yesterday Ally is on gardening leave. Sadly, this year, one of our greatest ever supporters will not be with us on the rest of our long journey. In April we lost Sandy Jardine - a truly inspirational man and Ranger. I had the privilege of meeting him a number of times before he left us and I found him to be one of football's true gentlemen. Sandy will be forever revered and the re-naming of the Govan Stand in his memory is a fitting tribute to a truly wonderful person who cared so passionately about his Club. My personal goals remain what they were 12 months ago. Namely to ensure that the events of Rangers' recent past can never happen again; to cleanse the Club of these events, and also to ensure that Rangers gets back to the top in football. I now recognise that we will not get much support outside of Ibrox for this; we have to do it ourselves. And we will. Last year I said that I was proud to be Chairman of Rangers. I will repeat that again today, because I genuinely believe it is a privilege to be in this position." http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12192436.html
  8. ALLY McCOIST activated his 12-month notice period last week and SCOTT believes that Mike Ashley needs to do the right thing by paying him off now and hiring Billy Davies as his replacement. IT’S been the question on every Rangers supporter’s lips for weeks now. Will Mike Ashley – and his sidekick Derek Llambias - be good or bad for their club? Despite the ‘Union of Fans’ staunch opposition to Ashley’s involvement at Ibrox , ordinary punters can’t decide whether the Newcastle United owner wants a successful Rangers or not. But after the shambolic handling of Ally McCoist’s resignation , this is Ashley’s chance to nail it once and for all. If he’s serious about rebuilding Rangers - on and off the park - and getting them back to Scotland’s top flight and the Champions League, he should prove it. By paying up McCoist what he’s due and appointing Billy Davies as their new gaffer with immediate effect. If he doesn’t and this is allowed to fester into the New Year – all the while McCoist’s team potentially fall further behind Hearts in the Championship – fans will have every right to believe that Ashley has no genuine interest in Rangers’ well-being after all. Whether you think McCoist has played a blinder by calling the board’s bluff, or that his stance is causing more harm then good, is irrelevant. He’s owed cash that his contract entitles him to. People have said he should sacrifice it and walk with nothing, which is ludicrous, or give it to charity. Who’s to say he won’t? Some even think he should put it back into the club. But given the current board’s record in financial management, why would he do that? The money’s certainly safer in McCoist’s hands, that’s for sure. That opinion was backed by a UoF statement last week. He should be allowed to go with his dignity – and legendary status at Ibrox – intact. His pay-off is a drop in the ocean to Ashley, which could quickly be recouped IF his intentions for Rangers are honourable. If they are, he’d do well to get Davies in ASAP. It would certainly get attendance figures – which have fallen like snow off a dyke recently – moving in the right direction again. Former club legends like Terry Butcher and Stuart McCall will also be in the frame when McCoist eventually goes. But, no matter what you might think of him, a firecracker like the Davies is exactly the type Ashley and Rangers need. Speak to any player who has worked under him and chances are they’ll tell you he’s the best coach they’ve ever had. Kris Boyd for one says Davies opened his eyes to a whole new side of the game during four months with him at Nottingham Forest. Davies is the reason Boyd is now coaching kids two nights a week. The Rangers striker talks openly about how his old gaffer would pre-empt situations in games before watching in amazement as they panned out exactly as he’d predicted. Davies is a football obsessive, a 24/7 manager, who is meticulous when it comes to planning and preparation. He doesn’t have an in-built editing suite at home – where he watches re-runs of training sessions – for nothing. Tactically, he’s already proved to be one of the best in British football. His record at Preston North End, Derby County and Forest in the English Championship is nothing short of phenomenal, especially given the resources he had to work with at Deepdale and Pride Park. Davies likes to blend youth with experience. He prides himself on finding bargain buys and ensuring their value increases under his tutelage. The likes of David Nugent is a prime example of that, a guy he plucked from relative obscurity when he was Preston boss who eventually became a £6 million man. For good reason, a malaise has set in at Murray Park. That’s hardly McCoist’s fault after everything that’s gone on at Rangers in the last three years. But when he exits, a clear-out is needed. And Davies will turn the place upside down if Ashley and Llambias allow him to do it properly. Of course, the diminutive Glaswegian has his faults. Davies’ relations with the local press had deteriorated beyond repair in Nottingham towards the end of his time at the City Ground and he had dis-engaged with Forest supporters. On that score, after almost nine months out of the game, you’d like to think Davies will have learnt from it and won’t make the same mistake again. Former Old Firm managers like Walter Smith and Neil Lennon will gladly tell him that when you’re in charge of either Rangers or Celtic, it’s wise to have the media on your side. At Forest, Davies felt certain people at the club were working against him. But that shouldn’t be a problem at Rangers if he’s Ashley’s man. Look at the relationship he has with Alan Pardew at St James’ Park. Like McCoist, Davies has Rangers in his blood. After being reared on the streets of Pollok, he knows what the club means to those supporters. He’s ready and willing to step into McCoist’s shoes when the time comes. Having moved back up to Scotland permanently, Davies has already taken in several Rangers’ matches. He’s even been seen at other Championship games involving the likes of Hearts and Hibs. It looks like that meticulous planning and preparation that he’s become renowned for – has already started. http://www.dailyrecord.co.uk/sport/football/football-news/scott-mcdermott-mike-ashley-can-4847969?
  9. From club website. AS previously announced, the Company's Annual General Meeting will be held at 10:30am on Monday 22 December 2014 at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD. Access will be through Exit 30 of the Broomloan Stand which is adjacent to turnstile 64. Shareholders will have access to the Albion car park with access to the Stadium footprint for disabled Blue Badge holders to park near the entrance. Shareholders are asked to arrive in good time from 9am in order to clear the registration process. Shareholders should bring the attendance card which was included with the Notice of AGM, posted to registered addresses on 28 November 2014. In the event that the attendance card is lost, Shareholders should bring some other form of ID (a credit/debit card will suffice). Shareholders whose shares are held in a nominee account with their stockbroker will need a Corporate Representative's letter (issued by the custodian of their shares) in order to be admitted. Non-shareholders including guests of shareholders, will not be admitted. The meeting will consider the 9 Resolutions set out in the Notice of AGM, each of which will be subject to a vote by Poll, which will be verified by Capita Registrars Limited. The result of these Resolutions will be released to the London Stock Exchange by no later than 7am on 23 December 2014.
  10. Just been interviewed on Sky Sports News there. To quote - 100% committed. 100% will be in charge next week v Livi Got a job to do, to get back into the top flight Going nowhere So God knows what happened earlier today. Almost as if Ally knew nothing about it.
  11. Drew Roberton, general secretary of the Rangers Supporters Association, admitted his sympathies probably lie with the board in the stand-off with the club's manager, Ally McCoist. McCoist, who has handed in his 12 months' notice, met chairman of the football board Sandy Easdale and director Derek Llambias on Wednesday. But they did not agree on a deal to end his three-and-a-half year reign now. "I've probably got more sympathy with the board in this one," said Roberton. "Ally as a player and as a manager has been well rewarded and I'm quite sure he will have other irons in the fire. "It's a really unsatisfactory situation at the minute and I would hope that the board and Ally can sit round the table and come to some amicable arrangement." By tendering his resignation on his 12-month rolling contract, McCoist has created a dilemma for the Ibrox hierarchy. They must either pay him off with a settlement, bring in a replacement but continue to pay him on so-called "gardening leave", or leave him in position to run down his contract. The lack of cash at Ibrox and the faltering performance of the team in the Scottish Championship makes the decision even more difficult. McCoist could opt to leave without a pay-off but that is not a scenario Roberton reckons will happen. He told BBC Radio Scotland: "There are others who have contributed a lot less to the club but who have walked out with large cheques in their pocket, so if Ally is contractually entitled to a pay-off then why should he go without one? "Yesterday's meeting turned out to be a non-event. You have two parties sitting round the table trying to protect their own interests." With supporters now staying away from Ibrox, the Rangers board will be keen to see how many fans attend the home game against Livingston on Saturday, and Roberton frets about the effect of the impasse on the players. "I don't think yesterday's decision will do much to encourage an increase in attendances," he said. "It is difficult to believe that the players will go out there fully motivated knowing that the manager is unhappy in his position and perhaps doesn't really want to be there. "Something's got to give and I imagine this will be a topic at the AGM." Rangers will hold their annual general meeting on Monday. http://www.bbc.co.uk/sport/0/football/30527980
  12. http://www.eveningtimes.co.uk/rangers/requisitioner-says-ally-mccoist-deserves-full-pay-off-at-rangers-192073n.114667550 I wish someone would explain to me in detail how some people are entitled to contractual pay offs for bad performance while others are not?
  13. http://www.telegraph.co.uk/sport/football/teams/rangers/11292997/Mike-Ashleys-Rangers-regime-admit-it-is-very-difficult-to-win-over-fans.html ' Mike Ashley’s right-hand man at Ibrox has admitted that overcoming the Rangers support’s lack of trust in the board will be “very difficult”. Derek Llambias, formerly managing director at Newcastle United, has imposed an austerity regime at Ibrox which has seen long-standing staff axed, a factor understood to have contributed to Ally McCoist's decision to work his 12-month notice period as manager unless the directors find the cash to pay off him along with his backroom staff. Unhappiness with team performances has grown – Rangers are nine points behind Hearts in the Scottish Championship promotion race and lost 2-0 to Queen of the South on Friday – but the greatest source of disenchantment is with the directors. The decision by the Rangers plc board to favour a £3million loan from Ashley over a £16million takeover bid from former director Dave King has alienated many fans from the owner of the Sports Direct chain, which markets the club’s merchandise. Rangers’ most recent accounts confirmed Telegraph Sport’s disclosure that Rangers had lost more than £8million in the last financial year. At the annual general meeting on Dec 22 the board will ask for approval for an £8million share issue but, more immediately, cash flow is threatened by plunging gates, with the club admitting to a 19,000 attendance for the visit of Cowdenbeath last weekend, although insiders say that the crowd was actually not much above 15,000. “We need to re-establish credibility with the fans, which is going to be very difficult,” Llambias told the most recent meeting of the club’s Fans Board. “What is obvious is that we need cash to stay in the club and not go elsewhere. We are cutting back as much as we can and put it onto the park “We’ve cut as much as we can. Our strategy is that we’re not affecting the playing area. We’ll be looking to review pricing of match day and season tickets to ensure we’re as competitive as we can be. Pricing and value are two key areas that we’re focusing on.” Llambias also revealed that Rangers had made several attempts to secure a deal with Charlie Telfer, the 19-year-old midfielder whose move to Dundee United cost the Tannadice club £204,000 development compensation. “He went for less money because he wanted first-team football,” said Llambias. “Four different offers were made throughout Charlie’s contract term, all of which were refused.” Sandy Easdale, chairman of Rangers football board – who is another target for disaffected fans – revealed that live match fees could not make up for the slump in attendances. “Match attendances are down UK-wide right now,” he said. “We’d rather fill the stadium than broadcast live as we don’t make as much money. Rangers TV costs us money – a lot of money as it stands right now. The club is subsidising this. This is not as big an issue when we’re back in the Premier League.” Telegraph Sport revealed that the board had been wrong-footed by McCoist’s decision to hand in his notice. At the meeting with the Fans Board, which preceded the manager’s shock announcement, Easdale said: “As far as we’re concerned the management team will remain in place. We had a good meeting with the manager today and we will continue to have ongoing dialogue with the management.” The Fans Board was told by Easdale that Rangers have a financial dividend coming at the end of December from Sports Direct but that the club shops in Belfast and Glasgow Airport had lost £600,000 between them. He added that Rangers get £10 per shirt sold by Puma and have leveraged Sports Direct to get a better deal. Easdale assured the Fans Board that they would be the club’s means of communication with supporters “as exclusively as possible”, a policy that sets the board on a collision course with dissident groups such as the Rangers Supporters Trust who, along with the Union of Fans, are intent on securing five per cent of the club’s shares, so that they can requisition extraordinary general meetings. Meanwhile, McCoist is due to meet Llambias and Easdale on Wednesday to discuss his future at the club, with the bookies already quoting odds on Terry Butcher and Stuart McCall as possible successors. However, the problem remains that Rangers do not have the £15million required to pay off the manager and his backroom staff'. Yikes, Ally's on more than we thought !
  14. The emergence of Mike Ashley as the key shareholder in Rangers has raised many questions on what his exact intentions are. Some are of the opinion that billionaire Ashley will invest millions into Rangers which sees us dominate Scottish Football and participate in the Champions League. The conflicting aspect of Ashley investing in Rangers is the fact he has complete control of the income generated by the sale of club merchandise and the £1 stadium naming rights, although denied in certain quarters as scaremongering, was only just revoked after pressure to comply with possible fiduciary duties. Why invest millions when he’s taking money out of the business?........... http://www.therst.co.uk/mike-ashley-what-are-his-intentions/
  15. Can't afford to sack him and can't afford to keep him. Mcoists performance as manager has dragged us down every bit as much as the boardroom has over the last 3 seasons and if the current vein of form continues then things will come to a head very quickly. Attendances can only plummet from here on in. No doubt the board will have a fantastic new vision for the club at the minute followed by plans for a new share issue, if the fans aren't coming through the turn styles then the board might find this very difficult to achieve. Don't think Ashley could even bale us out either. How can you take a loan that you can't pay back? I can't see any way out other than admin. We're back to where we started when Craig Whyte showed up, only this time the fans aren't buying into it. The McCoist predicament is about to force everyone's hand and the board don't have any answers. That's why they are so silent, they don't know what to do?
  16. THE fans group has hit out after details of the retail deal appeared to show the bulk of money generated would not go to the club but to Ashley's Sports Direct. RANGERS fans have taken a look at the annual accounts and ridiculed claims Mike Ashley is an Ibrox saviour. The Union of Fans have rounded on the board for trumpeting a 375 per cent rise in retail revenues from £1.6million to £7.6m. They told supporters not to be fooled as only around £1.5m will go directly to the club with the bulk of the cash heading to Sports Direct. And they even claim the club have been forced to buy more than £410,000 of club kit at recommended retail prices because they did not hit Sports Direct sales targets. The Rangers board admitted they’ll be forced to seek a fresh share issue after announcing an operating loss of £8.3m for the year to June 30. They’ll need a further bail-out as soon as January and have announced plans for a share issue aimed at raising £8m to keep the club operational in the medium term. Former Rangers owner Craig Whyte released on bail after appearing in court over his purchase of Ibrox club Union of Fans spokesman Chris Graham said: “The statement around retail revenues is disingenuous, to say the least. “The true picture is £7.6m was the total sum of money made from all merchandise sales through Rangers Retail. However, inventory costs are listed at more than £4m – effectively, the cost to Sports Direct of supply and distribution. “Under the terms of the deal between Sports Direct and Rangers Retail, the club receives only 50 per cent of profits, so that leaves only around £1.5m. This is approximately a third of the sum the club were making under the JJB deal. “A section of the accounts, provision of liabilities, even lists £411,000 payable by Rangers Retail to purchase stock at a higher cost than its resale value. “It appears Rangers had to purchase the stock at retail prices and sell it cheaper, presumably because they didn’t hit targets. Rangers are losing money from the sale of the shirts, yet Sports Direct are still being paid the full retail price. “The whole commercial deal with Ashley appears a shambles. Many fans will see the headline figure and conclude the commercial deal with Ashley isn’t bad at all. “Ashley’s plan is to make money for himself and he’s clearly a very successful businessman. However, he is no saviour of Rangers.” Auditors Deloitte again signed off on the accounts with the conclusion there is “material uncertainty” over the club as a going concern and “key assumptions” are being made by the board on future finance streams. Season ticket sales are down 15,000 and attendances are on the wane but chairman David Somers insists everyone is working together for the club’s long-term future. Graham added: “It’s complete rubbish to suggest this board have moved closer to the fan base. “The distance has grown even wider since last year’s agm. “They have appointed a completely pointless fan board. “Their relationship with supporters should be judged on the numbers turning their back on this regime and no longer going through the turnstiles. “Auditors Deloitte have again confirmed they cannot verify what directors are saying is accurate and the future of the club even in the short-term is bleak. “The accounts are only to the end of June, so the drop in attendances and season ticket sales has not yet fully hit the balance sheet.” Graham remains astonished the board turned down Dave King’s £16m investment offer for a £2m Ashley loan, upped by another £1m. He added: “The £8m sought is simply to keep the lights on for the next few months. It’s incredible to think they’re looking for £8m when they were offered twice that amount only a month ago by King.” Rangers declined to comment. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-union-fans-ridicule-claims-4716246
  17. Bitterly disappointed by the crowd though. 14.412 in a Cup game at Ibrox is - no matter of boycots and poor perfomances - appaling.
  18. ...in yet another dramatic day for the club. Sports Direct owner seems certain to strengthen his grip on Rangers as club lurch from one crisis to another...on and off the field. By Roddy Forsyth If an hour passes without some new development in the Rangers story — the most lurid saga to emerge from any British football club, ever — it counts as a quiet day. Scarcely had Telegraph Sport spread the overnight news that disgraced former owner, Craig Whyte, had been detained after being on the run in Mexico than we revealed that Uefa will not permit Rangers and Newcastle United to play together in Europe next season or for as long as Mike Ashley is in a position of power in both boardrooms. Of Ashley’s position and ambitions, more later. Neither the Champions League nor Europa League is foremost in Rangers fans’ minds. Last weekend’s 2-0 defeat by Hearts not only saw Ally McCoist’s players trail by nine points in the chase for automatic promotion to the Scottish Premiership, but it also emphasised the contrast in form with their main divisional rivals. Hearts’ total of 38 points from their opening 14 games is their best start to a league campaign. Hibs, meanwhile, have run up five successive away league victories for the first time since September 1980. To say McCoist is under pressure is to say what? Unless he walks away — that loaded phrase in the context of Ibrox — there is not sufficient cash to pay him off. As matters stand, the club will have to rely on another bailout from Ashley just to keep them going beyond New Year. There is increasing talk around the Scottish game that Rangers are heading into administration again. Some discount the notion on the grounds that the consequent automatic points deduction would condemn Rangers to a fourth successive season of lower league football which, they believe, would run contrary to Ashley’s aim of increasing club merchandise sales though his Sports Direct retail chain. Related Articles A more arcane theory has it that Ashley would accept administration as a short-term hit because it would shake out other contracts and allow him, as a major creditor, to bid for the club on the cheap. There is a third, more plausible option. Ashley’s lawyers are engaged in a low-key, but crucial positional battle with the Scottish Football Association. Ashley’s people want to find a way for him to increase his shareholding at Ibrox and Telegraph readers will remember that the idea of him taking his stake up to almost 27 per cent was floated in September. The SFA signed a binding agreement with Ashley, anchored in their Articles of Association, designed to keep him at 10 per cent or below. However, as money repeatedly runs out at Ibrox, Ashley either gets to increase his grip through security on the assets, with the SFA watching impotently, or he holds back, knowing that Scottish football’s governing body could be put in the invidious position of taking the blame for another insolvency event. And all of this is played out against a background of dawn swoops by police in southern England, as they arrest the former Rangers company secretary and three managing directors of Duff & Phelps, the company that oversaw Rangers’ administration in 2012. How tempting it is to conjure the fantasy that a posse of gun-toting Federales bore down on Whyte at the Mexican airport, to be greeted with a demand to show their ID, only for them to yell the immortal misquote from The Treasure of the Sierra Madre: “We don’t need no’ stinking badges!” Remember Ashley’s condition for advancing the soft loan that was rebuffed by the Rangers plc board in September? The club crest and trademark? Somebody does need the badges – and it looks unlikely that anybody can or will stop him now. Meanwhile, Rangers have confirmed Telegraph Sport's disclosure last month that the club would post losses of over £8 million in the accounts for the year to June 30, 2014. The figure given when the accounts were posted on the club’s website was £8.3 million. David Somers, the Rangers chairman, commented "…challenges still remain and despite additional financing having been secured over the year, further funding is necessary to ensure the club's ability to move forward successfully to achieve the goals we all seek and expect of Rangers Football Club. "To this end the board will be seeking shareholder approval at the forthcoming AGM to issue additional shares to ensure maximum flexibility for the company to raise equity finance and provide the financial capability required to develop the club in the longer term.” http://www.telegraph.co.uk/sport/football/teams/rangers/11259511/Mike-Ashleys-Rangers-swoop-overshadows-Craig-Whyte-dawn-raids-in-yet-another-dramatic-day-for-the-club.html
  19. Union Bears As you will know, the group took the very difficult decision back in May not to renew our season tickets due to the selfish, malicious and borderline illegal actions of our club’s current and previous incumbents. This was a decision echoed by nearly 15000 season ticket holders and the crowds at Ibrox so far this season have reflected the feeling of many Rangers supporters. We watched with hope and expectation as Dave King submitted his £16 million offer of funding in exchange for a majority stake in the club. We then watched with resignation but not shock as Mike Ashley and his friends within the Board room blocked this move and instead pushed through Ashley’s £2 million emergency loan secured against Rangers assets and on the premise of complete Board control. Like all other supporters, we wanted a clean break from people like Charles Green and his murky investors, but it is clear this isn't going to happen. It therefore brings us to a crossroads, as a group and as individuals. Mike Ashley has his grip firmly on the throat of our beloved club and nothing and nobody will make him remove it, as has been demonstrated in his time in charge of Newcastle Utd. It has thrown up a pertinent question which must be answered by not only us but every Rangers fan. Do we maintain our boycott for potentially years in the hope that someone saves us? Or do we elect to support the team on the park and explore other ways of enforcing change at Rangers? After much discussion we have elected to follow the latter path. As of 03/01/2015 we will be returning to the stands on a permanent basis. This is not a gesture of support for those now in charge of our club, nor is it an admission of defeat. It is simply a change of tactic. As a passionate group of supporters whose best attributes lie in what we achieve in and around the stadium on a matchday, we feel hamstrung by our absence and therefore the group needs to go back to being present within Ibrox. We have tried to boycott, to fall in line with other fan groups who have done their level best to encourage change within the club. But in reality all that has taken place over these past few months is a strengthening of Mike Ashley, Sandy and James Easdale, David Somers and many others’ positions within Rangers. It’s the sorry truth. We would like to make it clear that we will not be attending the League Cup semi final as a group, and feel it would be wrong to take tickets ahead of fans who have been attending games on a weekly basis. As we won't be attending as a group, it will make it impossible for us to pull off a display. We would therefore ask all Rangers fans to do their bit by making our end as colourful as possible, with flags, banners, streamers and anything else they can. We will however be planning more displays between now and the end of the season, and look forward to bringing some noise and colour back to Ibrox. Although we return to Ibrox on a permanent basis we won’t be doing so as supporters of the regime. Yes our money will be going towards their bonuses and onerous contracts in the short term, but the Union Bears will throw our weight behind another path towards long term change and that is fan ownership, and more specifically Rangers First. Rangers First is a Community Interest Company which was established at the beginning of this year with very simple goals; to gather together the financial clout of the Rangers support, purchase shares in the club and ultimately put it back in the hands of those who matter. Rangers First already owns over 500’000 shares in RIFC (roughly 0.6%) without any real offline publicising. As a group we hope to support them in the ways that we do best as they move forward towards greater awareness and support for fan representation and ownership. Of course we urge all those who stood with us in BF1 over the years to ask themselves the same question we did and decide what the future holds for you with regards to match attendance. But we will not try and influence your decision in any way. It’s an individual’s choice to make. What we do urge every singly Rangers supporter to do is visit http://www.rangersfirst.org, learn about the initiative and sign up. Put the money you used to spend on Rangers merchandise and funding Ashley's empire of zero hour contracts into something worthwhile. The strength of our support should not be measured or remembered by how many of us turn up at Ibrox or elect to stay away in protest, but rather by the lengths we will go to right the wrongs of those before us and stand shoulder to shoulder with one common goal; delivering the Rangers we all deserve. We owe it our children and grandchildren. If you would like to join the group in BF1 for the second half of the season then please send the following details to transfers@unionbears.co.uk or as a message to the Union Bears Facebook page: Full Name: Address: Date Of Birth: Contact Number (Mobile & Landline): Rangers Number: Do you have a season ticket already? (Yes/No): Union Bears
  20. http://www.dailyrecord.co.uk/sport/football/gordon-waddell-rangers-players-shrug-4678381 ALL for one – and every man for himself. Clearly Ian Black’s motto for Rangers’ new era. If ever you needed confirmation of the mink-lined vacuum some players live in, the Rangers midfielder was happy to provide it last week. “The only time it affects you,” he said, talking about his club’s off-field circus, “is when it gets to the stage when you’re not getting paid. “That’s the only time it will affect the players. Until then we don’t really pay attention to it.” Ten staff made redundant, 10 lives ruined six weeks before Christmas, 10 families thrown into upheaval. But as long as there’s unleaded for the Bentley and foie gras for the dinner table in the Black household, eh? Talk about being detached from reality. A month of Black’s wages would have kept a couple of those staff – his fellow employees – in jobs for a year. It never works that way, I get that. It’s never that simple. Like when Gers plunged into admin what seems like a lifetime ago and the players took pay cuts on the guarantee that no staff would be emptied. It was flawed logic at the heart of an even more flawed administration – but at least it showed the dressing room had some kind of conscience at the time, a little integrity. A base layer of decency. Clearly not the case these days. And perhaps wholly indicative that the complete Ashleyfication of the club is moving ever closer. The ‘he said, she said’ debacle between the Easdales, David Somers, Dave King, George Letham, Brian Kennedy and the entire ensemble cast has become a daily weeping sore, a little more pus seeping out every few hours on the wires. The court actions against those at the centre of the club’s shambolic descent. The giant cartoon sticking plasters that are Mike Ashley’s temporary loans, covering over one burst financial pipe only for another one to spring a leak right next to it. Fred Quimby would’ve had a field day with this kind of material. And those job losses. Always the staff, usually always the good guys who plod away in the background trying to keep the place ticking over while the bombs drop around them. You end up asking yourself who’s going to be left to switch the lights on and off, make the place function on a day to day basis, so many of them have been given deals. Then again, is that all part of the plan? If there is a plan? A few weeks ago, this column indulged in a little bit of devil’s advocation, asking whether a profit-oriented pragmatist such as Ashley wasn’t exactly what Rangers needed to get them running on an even keel, rather than the regimes who openly admitted to blowing £67m in 18 months. What price will they pay for it, though? Are Rangers just going to become a footballing branch of Sports Direct, a strip-lit, soulless outlet, centrally administered by faceless call-centre minions? What will become of the Rangers Charity Foundation? What about all the work in the community they do? The Rangers Study Support Centre? Are all these things still going to be funded, or will they be stripped away? Are they about to become a bare-bones operation without a care for what or who they represent? Will they have any values, or is it simply about value? From everything you hear about Ashley, he won’t give a toss about the periphery and the frippery. But they are questions that need answers because these are all things that make a club. They’re constituent parts of something that’s bigger than 11 players, four stands and two goals. Look at Celtic’s agm the other day. Look at how much is made of the culture of the club, its history, when it comes to things like the living wage and their staff being looked after. Look at an organisation like Big Hearts and the amount they do in the community, how much retaining its reach meant to them when they emerged from admin. Then look at Rangers and wonder what they’re going to look like when this is all done. If it’s ever all done. Wonder at what point an Ian Black WILL care about what’s going on outside his cocoon and whether there will be anything left of them to care about anyway. ************* Ian Black, your time is also up. Never have i disliked any Rangers player so much. The very definition of imposter. All this after the betting scandal and him asking fans "what the fuck do you expect" ? embarrassment.
  21. ...and says manager Ally McCoist is being 'hung out to dry' by the board. THE former boss gave a withering assessment of the men at the top of the marble staircase and claimed they’ve hung McCoist out to dry. WALTER Smith last night accused the Rangers board of making Ally McCoist the worst prepared manager in their history. The former boss gave a withering assessment of the men at the top of the marble staircase and claimed they’ve hung McCoist out to dry. Smith spoke out in strong support of McCoist in Glasgow in front of an audience of 750 at a question and answer session during a charity dinner. The ex-chairman accused the current regime of failing to back the boss and said boardroom instability is also hampering the team. Asked to reflect on the work of McCoist, who was at the event, Smith said: “Ally will need a little help – in the last three years he has had none whatsoever. “I was fortunate enough to be given great support by the likes of David Murray with the signings I was allowed to make. “People are casting aspersions on Ally’s ability but if I ever had doubts about him I would never have recommended him for the job. “No club can be successful until it is well run from the top, it’s the single determining factor in how well the team plays. “I wish Ally could be given that opportunity but it isn’t being afforded him. Ally is bearing up well under the worst circumstances under which any Rangers manager has had to work.” Smith also turned on former owner Craig Whyte when asked if he was still happy with his decision to step away from the club three years ago. He said sarcastically: “I was quite happy to leave Rangers in the hands of Craig Whyte – well, he was a billionaire, after all. “Where is he now? Costa Rica or somewhere? The wee b******.” Meanwhile, Dave King claims Sandy Easdale was as concerned with his seat on the board as investment in the cash-strapped club. Easdale has labelled the South African-based tycoon’s plan to invest £16million a phantom bid driven by self-promotion. The bus boss and Rangers board snubbed King’s offer and a £3m loan from Brian Kennedy, instead taking a £2m bailout from Mike Ashley. Now King has hit back and said: “When I spoke to Sandy on my recent trip to Scotland his main concern was whether, after investment by our consortium, he would still be involved with the club. “I confirmed we had no immediate intention to remove him or his brother from board involvement. This was clearly not enough to gain his support.” http://www.dailyrecord.co.uk/sport/football/football-news/craig-whyte-wee-b-walter-4665444
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