Jump to content

 

 

Search the Community

Showing results for tags 'dave king'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Main Forums
    • Rangers Chat
    • General Football Chat
    • Bluenose Lounge
    • Forum Support and Feedback

Calendars

  • Community Calendar

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


Location


Interests


Occupation


Favourite Rangers Player


Twitter


Facebook


Skype

  1. Dave King Statement re Rangers FC It is appropriate that I give feedback to the Rangers fans before departing for South Africa. Over the last few weeks Paul Murray, George Letham and myself have constructively engaged the Rangers board and (at the request of the board) Sandy Easdale regarding our proposal to invest 16 million into the club as soon as is practically possible. When investing in any public company there are numerous regulatory and compliance requirements that have to be dealt with. There are also SFA compliance issues that arise when investing in a football club in Scotland. An obvious further complication in Rangers case is the seeming lack of authority of the Rangers board to make decisions without reference to key shareholders who appear to be “the power behind the throne”. Prior to commencing the implementation issues referred to above it is necessary to reach an in-principle agreement with the board that can then be put to shareholders. In this regard it is important to recogniser hat the so-called Easdale Block represents more than 25% of the shares in issue and could therefore block the implementation of our proposal even if recommended by the board. Likewise, a combination of other shareholders could veto our proposal. I attempted to meet with Mr Ashley on my visit but neither he, nor his colleague, Mr Bishop, acknowledged my request for a meeting. This is their right but is unfortunate given the present concerns from supporters that Mr Ashley is using his shareholder status to put pressure on the board to alienate the rights and trade mark of the club in favour of his personal interest. I will make a separate announcement and appeal to fans on this topic at the appropriate time. Our initial proposal to the board was to invest the full 16m by way of equity at 20p per share. The board requested that we consider a debt/equity mix that would reduce dilution for existing shareholders and allow the debt component to be advanced prior to the extended time frame required for the approval of additional equity. We are amenable to this and to working with the board on the mechanics necessary to ensure that this is achieved provided that the full investment is recognised by way of board representation. We wish to appoint an equal number of members to the board and have the key say regarding the appointment of the Chairperson. We will not invest funds and let the existing board determine how these funds are spent. That has not worked well in the past. In any transaction of this nature there are a number of interests to be consulted and considered. The board has apparently engaged constructively on our proposal while advancing its own points as to what it believes is in the best interest of the club and its shareholders. Sandy Easdale has similarly apparently engaged constructively including highlighting some concerns. I have today responded to these concerns in writing. He will now consult with his co-shareholders and hopefully revert soonest so that we can proceed to agreement and the earliest possible implementation thereof. Unfortunately, I have to again deal with a point that I have covered previously. Despite our agreement with the board on confidentiality (that we have strictly complied with) we were faced with the inevitable combination of truth, half-truth and fallacies peddled by Mr Irvine on behalf of his employers. He states in particular that he is voicing Sandy Easdale’s directly communicated thoughts. Sandy has assured me that this is not the case regarding his recent nonsensical utterings. On that point, I have recently had the amusement of reviewing over 100 email communications between MrIrvine and Craig Whyte during the period that Mr Irvine was attempting to advance Mr Whyte’s business interests. My review of these emails indicates to me that he carefully identifies journalists that he believes lack journalistic integrity and ability and can therefore be fed by him for the benefit of whoever pays him. I urge fans to continue to ignore the nonsense that comes from these sources. We have a lot of work to do over the next few months to regain the club. I would not be here without the support of the fans and neither would my co-investors. We are going to need to draw on your support again over the coming months.
  2. Mike Ashley has been energised by the battle for Ibrox in a way that he never has by challenge of making Newcastle United competitive. On Saturday afternoon Newcastle United have their eighth crack at winning a Premier League match this season. If they swing and miss, it will be their longest winless run in the Premier League era: worse than the ill-starred 2008/9 relegation season and more desperate than the year that brought Sir Bobby Robson to Tyneside. Throw into the mix an undercooked team light on experience of a relegation battle and there can be little doubt that this is a time for minds to be focused. Even at this early stage survival appears the priority, but that cannot be taken for granted. And where is Mike Ashley? The owner’s scrutiny is not trained on the lame duck manager who is only ever one defeat away from losing further ground with a sceptical support but instead it is in a messy, protracted and potentially long-running takeover of Rangers. The Newcastle owner blew his own cover on Ibrox weeks, months or even a year or so ago. By dodging the share issue and banning a journalist who had speculated on his intentions towards Rangers, he tried the owner’s equivalent of an Ali shuffle – but the knockout punch has not yet been delivered. Rangers is going to be a slow burner for Ashley. Unlike Newcastle – where he found an owner willing to make a quick sale – there are messy and protracted battles to be fought at Ibrox with groups who are not going to relinquish their grip on a potential goldmine anytime soon. The motivation for investing in a fallen club that needs plenty of work is the promise of a potential route into the Champions League. Ashley’s mistakes have made that path impossible for Newcastle for a generation or so, but Rangers’ size and the impoverished standard of the competition give him a chance north of the border. And the Champions League gives him even greater profile than the Premier League in a sportswear market that he fancies a crack at: Europe. There are obstacles to be vaulted, of course: not least rules that state he cannot own majority stakes in clubs in both Scotland and England. But that is a hurdle to be clambered over when the time comes: the important thing is to elbow out the other prospectors sifting through the wreckage at Ibrox. Rangers is time-consuming for Ashley. It has caused him to take his eye off the ball at Newcastle and the consequences of that could yet be catastrophic for a club that appears rudderless, leaderless and entirely without hope at the moment. Ashley gutted Newcastle of people who would answer back to him. Managing director Lee Charnley owes his career to Ashley, and is hardly likely to stand up to him. We all know that Pardew will acquiesce if required. That is the way the owner wanted it – him dipping in and out of Newcastle when it suited him. Ever since Rangers became a serious interest for him, the dynamic has changed. Ashley may be more visible at Newcastle – naming himself as chairman over the course of this year – but he has not been as involved as he was before. A source I spoke to said his greatest hope was that people would run it for him, keeping it ticking along for a while. He simply doesn’t have time for Newcastle anymore. There is a shiny new toy north of the border and the fight for control at Ibrox has energised him much more than the battle to make Newcastle United competitive has. And what is unfolding north of the border is very, very messy indeed. For those still in any doubt, it is worth taking a quick journey through the coverage of Ashley’s actions north of the border. Festering worry about his intentions has given way to outright disgust at the way he has operated in the last couple of months. Just like he has with Tesco and Debenhams, Ashley has struck at a moment of weakness. That is savvy strategy from a sharp businessman, but it doesn’t mean that Rangers fans should be happy about what is happening. Not that many are, despite claims from a couple of Old Firm icons this week that Ashley might be the man to return the club to its perch. The Daily Record’s Michael Gannon wrote a withering editorial two weeks ago challenging that belief: capturing the scorched earth policy of Ashley and his unquestioning acolytes perfectly. Warning that sometimes the devil you know can be worse than the devil you don’t, he wrote: “He is simply out to bag a quick buck at Rangers.” It is a familiar theme when the subject of Ashley and the Ibrox club are brought up: money is the reason he is hanging around. Not necessarily money that will be made directly off the club’s success but more the reflected perks of owning an institution that can reasonably challenge for the Champions League in a couple of seasons with pretty minimal investment. Gannon summed up his latest power play in a couple of damning sentences. “He could have sunk in money at last month’s share issue and it would have gone to the club,” he wrote. “Instead he waited and bought out Hargreave Hale. It strengthened his position and rubbed the board’s face in it after they refused to cave in to strict demands in return for a loan.” It is Ashley to a tee. Stubborn, obstinate and looking entirely after number one. The worry is that Newcastle United’s Premier League status will become collateral in the battle for Newcastle United. http://www.chroniclelive.co.uk/sport/football/football-news/newcastle-united-become-collateral-damage-7943767
  3. With the next 24 hours likely to be important in terms of this issue, this article from Richard Wilson is a good appraisal ahead of a new thread on boardroom events. http://www.bbc.co.uk/sport/0/football/29717979
  4. Talking to Rangersitis (nice meeting you btw.) on Saturday afternoon we both debated whether it can be stopped via Sandy Easdale's proxy bloc and Ashley's holdings. Few things: 1. Will it be considered a resolution or just a simple loan authorised by the board? 2. Or will Ashley and Easdale bloc this through their voting rights on special resolutions? 3. By blocking the loan if it is seen as a resolution will concert party rights be triggered 4. By calling the EGM it looks to me as though the voting percentages won't matter here and that's why Ashley's calling the EGM in an effort to prevent the vote going through at a typical board meeting Would any of our more informed Gersnetters like to set us right?
  5. Mike Ashley has many business interests (including Sports Direct) and they have made him a very wealthy man. When he bought Newcastle United in June 2007 and said “Newcastle attracted me because everyone in England knows that it has the best fans in football… don’t get me wrong. I did not buy Newcastle to make money. I bought Newcastle because I love football.”….it must have sounded like manna from heaven to the Newcastle support as they may have thought more along the lines of ‘Champions League’ rather than ‘Championship’. http://www.therst.co.uk/coming-soon-ashley-and-the-vanishing-revenue/
  6. Here's the latest offering from oor Bill....
  7. http://www.rangers.co.uk/news/headlines/item/7812-notice-under-section-303-of-the-companies-act-2006
  8. "The Rangers Standard has received documentary evidence which appears to prove the links between Charles Green, Imran Ahmad and Rafat Rizvi and reveals the extent to which Rizvi was involved in the purchase of Rangers. The documents show the three men arguing over payments due to be made from the club and detail which shareholders Rizvi introduced. There are also claims from Rizvi that Green and Ahmad are holding shares for him and requesting that these be transferred to another entity." http://www.therangersstandard.co.uk/index.php/articles/current-affairs/329-rizvi-lawyers-ready-to-tuck-into-the-rfc-carcass-all-over-again
  9. RECORD Sport asks eight key questions about the Sports Direct Tycoon and attempts to discover the reasons behind his bid for power at Rangers. AS the power struggle within the Ibrox boardroom intensifies it would appear “Iron” Mike Ashley is spoiling for a fight. The Sports Direct tycoon last week launched a dramatic bid to remove chief executive Graham Wallace by calling an extraordinary general meeting. If Ashley succeeds in ousting Wallace and director Philip Nash it could deal a knockout blow to Dave King’s hopes of assuming control. King is preparing a £16million rescue plan along with Paul Murray and George Letham – which has the backing of finance expert Nash and the CEO. However, Ashley has increased his shareholding to 8.9 per cent, sparking rumours he’s preparing to sell Newcastle and plough some of the cash into purchasing Rangers. And if he secures enough support to remove Wallace and Nash it would almost certainly kill off any hope of King pumping money into the ailing club. The outcome of the scrap could go a long way to deciding the future of Rangers although it is abundantly clear the supporters would much prefer the South Africa-based businessman to the secretive Ashley. The billionaire Londoner is a loathed figure at Newcastle and has already had several run-ins with the Toon Army. A reluctance for making public statements only serves to increase the sense of mystery surrounding Ashley and his interest in Rangers. A hugely controversial yet influential figure, the Newcastle owner already has the naming rights over Ibrox and is reported to want control of the club crest in exchange for an emergency loan. But just who is Mike Ashley and what are his motives in football? Does he deserve the hatred he gets from some Newcastle fans and should Rangers fear his bid for power? Is he a ruthless tycoon who tramples on tradition and ambition? Or is he a sharp businessman whose challenge to the status quo, and ability to put up his own hard cash rather than borrowed money, should be welcomed? Here Record Sport asks eight key questions and attempts to discover the reasons behind his intervention: Q: Who is the real Ashley? Colleagues describe him as gregarious, enthusiastic, passionate, ruthless. Always ready to challenge the perceived wisdom and act on instinct. Loyal to those who show him loyalty. Socially he’s personable, far from being the introvert people think. Those who have crossed him are less flattering in their assessment. His business practice is to aggressively pursue opponents until he’s won the battle, leaving losers in his wake. Q: Why is he in the football business? Surely it isn’t worth the flak? Initially he claimed to be a Newcastle fan – a colleague says Chelsea and England were his teams – who wanted to “have some fun and win trophies”. But in reality he is a football speculator who has worked out the game is the perfect platform to promote Sports Direct’s global ambitions. There are more than 130 Sports Direct signs around St James’ Park – and they don’t pay for the ads. Sports Direct also made £3.4m by taking over Newcastle’s commercial sportswear business. Q: But no football club owner makes money, do they? With TV cash rolling in, a policy of selling the best players at a huge killing, and tight financial controls, he has made Newcastle one of the most profitable clubs in Europe, making £9m last year. Flush with cash from floating Sports Direct, he bought Newcastle seven years ago for a cheap-looking £133m, and has loaned £129m of his fortune to settle inherited debts and keep the club running after relegation in 2009. Q: Attempts to sell Newcastle have failed and now he is snapping up nine per cent of Rangers. Surely this comes at a price to the club? Renaming St James’ Park the Sports Direct Arena to “showcase” it for future sponsors, and bringing in pay-day lenders Wonga as shirt sponsors, show cash wins over sentiment, tradition or business morals. Ashley has also ordered Newcastle to put survival in the league over cup glory, which the club argue risks relegation. That has infuriated supporters. The Magpies owner made this public through a fans’ forum because he wanted the message out with no PR flannel, typical of his brazen, controversy-courting decisions. “Mike makes decisions from his gut instinct,” says a close business pal. “It is hard to argue because he has built up a huge empire.” Q: Has Ashley actually done any good at Newcastle? Most fans will say no, fearing the ambition and excitement have gone. But the £129m loan is interest free. A commercial loan that size would cost millions a year in interest. Just ask Manchester United and the Glazers. He instructed staff to keep the stadium full with well-priced ticket deals. Ashley also told them he hates “overpaid freeloaders” such as agents who demand the going rate of 10-14 per cent of a deal in commission. “Just because that is the way football has always done it, isn’t a reason to keep doing it for Mike,” says one source. “He’ll want it done differently.” Q: But what about the current plight? Why won’t he listen to the fans, check the terrible 2014 results and sack Alan Pardew? Perhaps out of loyalty. Pardew has gone along with all Ashley’s policies, including selling players such as Andy Carroll and Yohan Cabaye, and never taken his boss on in public. There’s a theory that Ashley can’t be bothered with the upheaval of finding another manager. “Patience is the word,” said one source. Q: So does he not care? Ashley has been a regular at games this season, sometimes flying into the city in the business helicopter with what is close to a personalised reg: G-MAOL. This could be support for Pardew, or to check out how poor the team has been, ahead of making a decision on his future. Q: Has he got the fortune to own Newcastle and a big slice of Rangers? Ashley’s stake in Sports Direct, which he founded, is worth £3billion. His holding company MASH has assets of £581m and makes an annual profit of £281m. He has the clout to bail out Rangers immediately but will exact a price for any financial help. Newcastle fans soon found his fortune won’t be used to bankroll a bid for glory. He will stabilise his “asset”, use it to help Sports Direct, and hope it increases in value over time. One source said: “Mike won’t be drinking with fans on the terraces again, and understands many of the reasons why supporters are unhappy at Newcastle, but he is doing it his way.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-power-struggle-eight-questions-4433421
  10. http://www.dailymail.co.uk/sport/football/article-2789354/furious-rangers-fans-staged-angry-protest-against-mike-ashley-s-increasing-influence-sports-direct-stores.html
  11. ...the Ibrox throne is big enough for Mike Ashley and Dave King. AS King and Ashley continue to vie for control at Rangers, KEITH insists it may be in both men's interests to discover a common ground that incorporates the interests of the club and its fans. THEIR tanks have rumbled into Edmiston Drive, ready for the climactic Rangers shootout. But before Mike Ashley and Dave King begin blowing each other to bits outside the Big Hoose, perhaps it might make more sense for them to find a better way. Maybe, before the guns start blazing, there is a chance for them to discover common ground. Of course, that would require a bit of common sense and where this club is concerned there is seldom any place for sound logic. But let’s indulge ourselves for a moment in any case and pretend that the two men, who seem so willing to go to war over Rangers, may still be capable of some eleventh-hour reason. Ask yourself this. If you were Ashley why on earth wouldn’t you want King to take control? Those closest to the Sports Direct boss – and even those Newcastle fans who can’t stand the sight of him – all agree that his primary focus is on protecting and expanding his bargain-basement retail business. Which makes perfect sense. Okay, so Slazenger polo shirts and laceless Lonsdale trainers might not be everyone’s giant novelty mug of tea but Ashley’s firm has always been more Buroo-lander than Zoolander. It’s a high street jumble sale and it’s made the man a fortune. This real-life Derek Trotter is a genuine billionaire. Not like the last one who, for all anyone knows – including Glasgow’s finest for that matter – may be currently strolling around some town centre in Panama dressed in Lee Cooper and Le Coq Sportif. He always did have a bulging eye for a bargain. But be that as it may, Ashley deserves to be taken a great deal more seriously. Which is precisely why now might be the ideal time for King to sit him down for a chat, assuming of course that he really is serious about handing over so much of his children’s inheritance. King has not always convinced and not just because of the 41 criminal convictions for stiffing the tax man which have stained his name in South Africa. His PR has been poorly thought out and his strategy over the last 12 months impossible to fathom as he has tip-toed around the edges of this farrago without ever looking prepared to get his feet wet or his hands dirty. But finally he has waded back in, promising an initial £16million bailout and more millions to follow. For that reason alone he deserves to be taken seriously, even by those who continue to doubt him. If Ashley counts himself among those cynics, what would be the harm in asking to see the colour of his money? Because if it really is the case Ashley is interested only in what is best for his own business, there is no reason for this pair to remain hostile over the running of Rangers. Yes, in an ideal world, King may wish to walk into Ibrox on day one and rip up the retail contract Ashley is apparently so determined to protect. This seven-year kit deal, of course, was gifted to him by Charles Green and has been described by those who have seen it as a ludicrously generous and one-sided agreement. Green later wasted a small fortune of Rangers money on legal fees in a failed attempt to have it annulled but the consensus is that this contract is watertight. In other words, Rangers have already sold the jerseys to Ashley and there is nothing King or anyone else can do about it, even if it means the loss of millions of pounds. And this is where logic ought to kick in because if Ashley wants to keep coining it in from shirts and merchandise then surely King’s arrival as a potential saviour stands to make him even richer? King, after all, is perhaps the one man capable not only of uniting a fractured Rangers support but also prepared to throw good money after bad in the reconstruction of a club which continues to hang by the thinnest of threads. If indeed there is enough cash left in the bank to cover this month’s payday then November’s could be a killer. But only in this omnishambles could a business that is wheezing and gasping for breath continue to keep a £30m life-saving injection so stubbornly at arm’s length. King wants to save them. But he can’t get his money bags across the front step. And, yes, logic dictates that Ashley must see the sheer lunacy in this. Over the past few months around 15,000 Rangers fans have gone missing from Ibrox. The numbers are so large that they have blown a hole in Graham Wallace’s attempts to keep the business afloat. And there is a danger many more thousands will follow if Ashley guns King down in the battle for control, while also boycotting his stores. However, if King was to walk back in, flanked by fellow lifelong supporters such as Paul Murray and George Letham, then it is almost certain business will begin to boom again at the turnstiles and in the club stores which Ashley also now has firmly in his grasp. King plans to plough £8m into the coffers with Murray, Letham and a group of wealthy fans cobbling enough together to match him pound for pound. Straight off the bat, that’s £16m that Ashley doesn’t need to bother looking for down the back of his office sofa. There will be more to come as King intends to invest his whole £30m in returning his club to a fit and competitive state and to restore a stadium which, much like the team, is in a state of decay. This is King’s manifesto and so long as he can convince Ashley he is for real and that the money is there and good to go, then both Rangers and Sports Direct stand to benefit from it hugely. So tell me, what possible logic is there in Ashley blowing this man away? The answer is, there isn’t any. Or at least, none that is obvious from the outside of this wretched mess. Which means there must be something hidden from view, perhaps even something deeply suspicious behind the naked act of aggression earlier this week which saw Ashley set his sights on Wallace and Philip Nash, the men trying to facilitate King and his consortium. What else is there to hide here? Surely nothing that stretches back to when Ashley climbed into bed with Green in the first instance and began this merciless pumping of Ibrox? Come to think of it, who on earth did bring these two together? He already owns the strips and the shops which sell them. He bought the stadium’s naming rights for a quid. And had Wallace not grown a pair last month then he would have owned the club’s badges by now as well. But it’s hard to see the value in any of it if Ashley’s power grab does indeed drive more and more of the customer base away. In fact, it will cost him millions of pounds in emergency loans just to continue to light up an increasingly empty stadium. If he’s not careful he could end up sitting alone in the directors’ box with only his drinking buddies, Sandy and James Easdale for company and if that thought doesn’t terrify him then it should. This club is broken and it needs fixed, not by a bunch of Trotters Independent Traders but by those who genuinely care for it. If Ashley cannot, or will not, see the logic in that then it will indeed be time to clamber back into the tanks. http://www.dailyrecord.co.uk/sport/football/football-news/keith-jackson-another-rangers-war-4411056
  12. NOBODY is denying that Rangers need money from somewhere - and soon. Despite the share offering last month raising over £3million, there is not enough in the bank to see the Ibrox club beyond the end of the year. But are Rangers going to fall into the same trap as they have on so many occasions in the last few years? Are they going to turn to somebody who is, at the end of the day, primarily concerned with making money? Personally, I want people in charge who have the best interests of Rangers at heart and are not simply hoping to make a fast buck. For me, Dave King, George Letham and Paul Murray all fall into that category. Their priority isn't making a profit on any investment. No, they want to see the club flourish. They would, too, be there for the long haul if they got in. Dave King, who has previously invested £20m of his personal fortune, has shown in the past that his prime concern is the club he grew up supporting as a boy in Glasgow. I know George Letham. His love of Rangers was obvious when he stepped in and loaned them £1m of his own money to keep them afloat last season. Paul Murray could easily have walked away two years ago after the Blue Knights consortium he was a part of was scuppered in its bid to buy the club. But he hasn't. Along with many other fans, I want people involved at Ibrox who have reasons to be involved apart from money. King, Letham and Murray are all Rangers men through and through. I would like to see individuals with a passion for the club having a say in its future instead of those whose main concern is making money. King, Letham and Murray have been in negotiations with chief executive Graham Wallace about a multi-million pound package that would sustain the club to the end of the season and beyond. I would be happy if something could be agreed and they could work together with the current board to return Rangers to the forefront of Scottish football and take them back into Europe. But now, of course, shareholder Mike Ashley has called a extraordinary general meeting of the club in a bid to oust Wallace and director Philip Nash. If he is successful - and I would not bet against a clever operator like the Sports Direct owner getting what he wants - then what happens then? Some Rangers fans are very unhappy about the prospect of Ashley taking a greater role in the running of the club. Others would like to see the billionaire businessman involved. But Article 13 of the SFA Articles of Association prevents somebody having stakes of more than 10% in two clubs without their "prior written consent". Also, if Wallace and Nash are removed then it is going to take over £500,000 to pay up their contracts and honour any bonuses which are due to them. But the funds are running out. So where is the cash going to come from? There is a lot of talk about Ashley being prepared to lend the club money. But if that is the case, no matter what the terms are, then the club is immediately in debt. Is that really what we want? Especially when a man like King, who has said he is prepared to plough in tens of millions without a return, is waiting in the wings. However, Ashley hasn't got where he is today - and the Cockney is apparently the 250th richest man in the world - without being a cunning customer. He has ploughed tens of millions of pounds into Newcastle United. He certainly wouldn't have to invest anything like that to resurrect the fortunes of Rangers. In the last two years nobody appeared interested in the club. Now, all of a sudden, we have two rival camps fighting over it. That in itself has to augur well for the future. Whether the billionaire businessman or three people with the best interests of the club at heart takes control, at long last something is happening. But as I say, my preference, along with a lot of other supporters, would be for guys who love Rangers and want to see it do well coming on board. I WAS looking forward to meeting up with my old mate Andy Gray next week when I head out to Dubai. So I was sad to hear he has returned to Glasgow after his mother passed away. My thoughts are with him and his family. http://www.eveningtimes.co.uk/rangers/rangerscomment/dj-cash-allied-to-passion-is-key-for-rangers-184026n.25554712
  13. keith jackson @tedermeatballs · 9s 10 seconds ago OK bed time. Back page will be up soon. Suffice to say a multi million pound bailout offer has been made by a three man consortium. https://twitter.com/tedermeatballs/with_replies
  14. With today's LSE notice by Mike Ashley that he intends removing directors from the board which seems to be in obvious conflict with those who'd like to see a further new share issue to enable a Dave King led consortium to invest directly into the club, off-the-field matters have again taken prime focus with an international break ahead. Ahead of any possible general meeting, Gersnet would like the gauge the opinions of our site visitors. Are you in favour of a possible take-over by Dave King? Would you prefer the controversial style of Mike Ashley? Should we bring back Charles Green or Sir David Murray? Which current directors would you remove? Vote now! http://www.gersnet.co.uk/index.php/latest-news/281-the-battle-for-rangers-you-decide
  15. http://www.thesun.co.uk/sol/homepage...n-Rangers.html MIKE ASHLEY has doubled his stake in Rangers. The Newcastle owner now owns around nine per cent of the Scottish Championship club. Investment group Hargreave Hale confirmed it was behind the sale of £853,000 worth of shares in the fallen Glaswegian giants. Ashley’s purchase came hours after Gers fans threatened to boycott his Sports Direct stores over the cut-price deal he struck for the Ibrox naming rights. A spokesman for fans’ group Sons of Struth said: “We call on Mike Ashley to cancel his contract before the October 11. “If he still retains the naming rights after this point, we will instigate an immediate series of actions aimed at his Sports Direct stores.”
  16. Rangers fans group Sons of Struth threaten boycott of Mike Ashley’s Sports Direct shops Ashley has been targeted after purchasing the naming rights to Ibrox for £1. The threat of a boycott of Mike Ashley’s Sports Direct retail group along with the business interests of other Rangers directors has been made by dissident fans’ group, the Sons of Struth, following a ballot of supporters. The group, named after Rangers’ longest serving manager, Bill Struth, staged a demonstration behind the directors’ box at Ibrox during the team’s recent meeting with Inverness in the Scottish Communities League Cup, but have now raised the possibility of direct action against McGills Buses, a transport group owned by the Rangers football board chairman, Sandy Easdale, and his brother James, who serves on the plc board. Ashley has been targeted because Sandy Easdale recently revealed that the naming rights to Ibrox had been sold to the Newcastle United owner for £1. Easdale himself has been the subject of condemnation from the Rangers support - whose boycott of season tickets has reduced the club’s income from that source by half - because he has been seen in the company of Rafat Rizvi, who was sentenced to 15 years in absentia when convicted of fraud in an Indonesian court. Rizvi, a UK citizen, is the subject of an Interpol international arrest warrant but cannot be extradited because the UK has no treaty with Indonesia. He was pictured recently in Glasgow along with Easdale and Malyasian businessman, Datuk Faizoull Bin Ahmad, who was named as a potential investor in the troubled club, although he subsequently denied any intent to take a stake or any knowledge of Rizvi. The Sons of Struth issued a statement detailing the results of their poll, which did not specify how many fans’ opinions had been sampled, although it is thought that they have around 3000 members. The statement read: "Due to recent events, such as Sandy Easdale's meeting with convicted fraudster Rafat Rizvi, his broken promises of having investors lined up and the selling of our stadium’s naming rights to Mike Ashley for £1.00, Sons of Struth have received an increased level of calls for tougher action against the board, Sports Direct and, Easdale-owned McGills Buses. “Recent polling of our members resulted in 99.35% calling for the removal of Sandy Easdale as a Rangers director and 97.19% wishing Mike Ashley to cancel his 7 year contract for the naming rights to Ibrox, 92.87% want to boycott McGills buses and 87.47% want to boycott Sports Direct in attempt to achieve the removal of Sandy Easdale and cancellation of Mike Ashley's naming rights agreement. “89.64% of those polled want to see some sort of boycott at matches with an aim of removing Sandy Easdale. The general feeling amongst our members is that he lies to fans and shows no respect to his position through his close association with Jack Irvine and his meeting with a man on Interpol's most wanted list. His words and actions are disrespectful to the position he holds as a director of Rangers Football Club. “Our firm belief is that Sandy Easdale is an obstacle to future outside investment and, despite his recent outlandish claims that the fans' actions may put the club's future in danger, we firmly believe that after 100,000 season ticket sales in three seasons the blame for the clubs perilous financial position lies squarely in the boardroom. “The club operate a "football board" which is viewed in the eyes of the fans as nothing more than a vehicle to allow Sandy Easdale a directorship as he may not be eligible for a seat on the PLC board. Does this "football board" have any other purpose? “We shall release our intentions for further protests and boycott action in the very near future and in the meantime would encourage the board to immediately remove Sandy Easdale if they wish to avoid this. “Sandy Easdale has been heard in the past to claim that if the Rangers support do not want him at Ibrox he would leave. We would ask him to take the hint and go before his association with our club causes more damage. “Sons of Struth also call on Mike Ashley to cancel his naming rights contract before the 11th of October. If he still retains the naming rights after this point we will instigate an immediate series of actions aimed at his Sports Direct stores. “We would ask all Rangers supporters in the meantime to use discretion when deciding to give either Sports Direct or McGills Buses their custom. We will hold a public meeting of Rangers fans in October at at a venue to be announced." http://www.telegraph.co.uk/sport/football/teams/rangers/11131196/Rangers-fans-group-Sons-of-Struth-threaten-boycott-of-Mike-Ashleys-Sports-Direct-shops.html
  17. It’s been quite an exercise in the art of survival. A board who have misled shareholders at AGM, hidden the identity of investors, stand accused by a section of the press of lying over the withdrawal of credit/debit card facilities for season tickets, who, in their “comprehensive” 120 day review hid/omitted to divulge details of “the sale of the century” regarding stadium naming rights, have failed to answer satisfactorily structured questions from fans groups pertaining to the long term plans for the club, who have by unethical and unedifying association with known fugitives embarrassed the name of the club, the aforesaid which sees them, again, accused of misleading supporters regarding the nature of that meeting, have found in the last few days that there is one aspect of the club that even the most resourceful or duplicitous cannot hide from the fans – the state of the product on the park. There is even perhaps a warped sense of irony, that in the battle for our football club the ammunition or language is no longer anonymous investors, percentages or proxied shares but rather tactical ineptitude, poor performance, ill-discipline and unexplainable team selection. The current board cannot on this occasion use the convenient “get out clause” of laying the blame on previous regimes – this time it’s their call, and as thousands of bears demonstrated on Monday night as our team capitulated to Hibs, they will be held to account. In fact they already have been by thousands, the empty seats providing ample supporting evidence on that one. I fear it will get worse, much worse before it gets better. There is nowhere, nowhere the board can hide from this one. Monday night was a culmination rather than a knee jerk, perhaps the saddest aspect of it all was that it came as no great surprise to anyone. The failings of management, signing policy, tactics and team selection have been the subject of message board forums, supporter’s bus conversations and pre-match blethers for months. It is not a time for emotive and unhelpful descriptive language, either positive or negative regarding Ally, but rather a regrettable acceptance and emotion free analysis that in the most important area – on the park – Ally is not capable of taking us to where we not only want, but also need to be. There was a moment on Monday night when the cacophony of anger from the Copland Road, directed towards Ally, saw him withdraw to the dugout. It was notable that Durranty was tasked with the verbal coaching from the touchline second half. The board should be thankful there was such a volume of noise, if they prevaricate any longer over what needs to be done, then perhaps next time we fail, it will be akin to the tree falling in the empty forest – there will only be an empty silence from the empty stands.
  18. http://www.heraldscotland.com/news/home-news/end-of-an-era-as-murray-closes-illustrious-charlotte-square-hq.25482419
  19. Posted Today, 07:02 PM SEPTEMBER 26, 2014 / BILLMCMURDO The boardroom saga rumbles on at Ibrox with the news that Rangers CEO Graham Wallace has had talks with representatives of Dave King. My understanding is that these representatives were Paul Murray and George Letham. No big surprises there but this is where we enter into the Twilight Zone once more. When contacted by a prominent daily newspaper, I am told that Dave King denied that these men were his representatives. Which begs two questions: 1) Why are these men purporting to represent Dave King? 2) Or is Dave King being economical with the truth? We could also ask why he is, if he is., Given that Rangers fans want transparency and that this requirement for transparency is often spoken of by Messrs Murray and King, surely it would be very much in the interests of both these men to clear matters up for the fans. In a nutshell, is Paul Murray representing Dave King in talks with Graham Wallace? This opens up a whole raft of other questions. Why is Graham Wallace speaking to Paul Murray? Is he doing so with the backing of fellow board members or has he “gone rogue” and if this is the case, what can be done to stop him? It is no secret that there is a rift in the boardroom and this is not something Rangers fans want to be reading about, especially in anti-Rangers outlets. I personally am fed up of all the cloak and dagger, which is playground stuff. We need men leading us, not boys. Yes, confidentiality is often necessary in business dealings but you can’t call for transparency to score points while being furtive and even deceitful. If Paul Murray is representing Dave King, fans should be told and not lied to. The whole matter hinges around Dave King’s now legendary £30 million to invest. Is the £30 million for real or a mythical figure that keeps Dave King in the limelight while deceiving the Rangers support? Even if Kings’ 30 mil is real and in place for investment, other questions need answering. These include a very important one i.e. Is that it? Is the 30 million all there is or is there more to follow? Not as a possible but something far more concrete? I mean, are there other investors lined up or does King himself have more in reserve? Just as vital is the question: What role does King want for his investment and can he get it? There are huge question marks over King’s suitability as a director of RIFC PLC both from the stock market perspective and from that of the SFA and SPFL. King needs to answer those for his own sake and others. Should King fail to get a directorship, is he happy to take a back seat and does this also mean there is a very real prospect that he will fall foul of AIM regulations concerning “shadow directors” who hold no office but exercise inappropriate clout? Can King’s ego handle being just a good guy investor with no hands-on power? I see the papers are waging a campaign against Sandy Easdale attempting to pressure him not to block this mooted Dave King investment. Easdale may be crazy to try and block this investment if it saves the club but he would be crazier still to rely on it given how precarious it appears to be. The fact that he is active in seeking alternatives is indicative, not of a churlish anti-King prejudice but of commendable business prudence and responsibility. As I wrote previously, Rangers require a custodian. Both Dave King and Sandy Easdale may have a lot to do to convince fans they can fill that role. Being more honest with the Rangers fans would be a good start. http://billmcmurdo.w....the-kings-men/
  20. THE financials to the end of June were expected to be published by the end of this month with an agm to follow within 28 days but with no date yet fixed there are concerns a delay could have a knock-on effect on fundraising plans. The auditors signed off on the half-year results in March with the caveat the business remained a going concern as long as season- ticket sales remained at the levels of previous years. FEARS are rising of a delay in announcing the annual results of Rangers and of possible financial consequences for the club. It had been reported the club’s financials to the end of June 2014 would be published before the end of this month, with an agm to follow within 28 days. However, Record Sport can reveal a date has yet to be fixed for the release of the annual results, with sources suggesting it has been delayed by the board. It had been anticipated Rangers would use their agm to put forward a motion seeking support for a new, significant share issue to guarantee the long-term financial future of the club. Any delay would have a knock-on effect on the timetable for fundraising, with the £3.13m brought in from the recent share issue only expected to see the club through until Christmas. Insiders suggest the board are either confident of raising funds from other sources or struggling to have their financial results okayed by auditors Deloitte. But a boycott by fans over the summer has seen season- ticket sales slump and left a black hole in the finances. Rangers would not need to go to the market for fresh finance in the short term if they secured loans from investors such as Mike Ashley or the Malaysian group who recently visited Ibrox. Their involvement would almost guarantee, at a stroke, that potential saviour Dave King would be destined to remain on the outside looking in. Rangers yesterday confirmed director Sandy Easdale had increased his stake in the club Asked to confirm a date for the release of their financial results a Rangers spokesman said: “No date has been fixed. We have a regulatory requirement to hold the agm by December 31 and will do so.”
  21. ...until assurances over club's direction are given. The Rangers Fans Fighting Fund set up in 2012 after administration Group has raised more than £600,000 in donations to date RFFF will only give £500,000 to Rangers if assurances are given Ibrox board must be able to prove they have long-term project set up The Rangers Fans Fighting Fund will not pass on their £500,000 kitty to the Ibrox board until they receive assurances about the club’s future direction. The organisation was set up in the wake of the descent into administration in 2012 and raked in more than £600,000 in donations. Money was used to settle football debts owed to Falkirk and Dunfermline, as well as helping pay for the relaying of the Ibrox pitch. The Fighting Fund is now ready to disband and it’s thought they would prefer the money still in their account to be used for a long-term project at Rangers, such as youth development or the establishment of a club museum. Chairman Andrew McCormick wrote a recent letter to chief executive Graham Wallace detailing 13 questions about current and future policy within the club. Wallace responded by asking to postpone any further discussions until after the completion of the share issue which last week raised £3.13million to stave off an immediate financial crisis. The Fighting Fund have grown increasingly frustrated about the lack of progress in terms of communication and released a statement on Wednesday evening to confirm their position. ‘Mindful of its obligations to the Rangers Family and the money we hold in trust, the RFFF has sought information from the board of Rangers International Football Club plc to enable us to make decisions regarding the future of the RFFF and the disbursement of funds,’ it said. ‘We had a meeting on May 5 this year with Graham Wallace, chief executive of the club. Unfortunately, as he was not accompanied by another member of the board, he felt unable to make any statement on areas of policy which we could communicate to supporters. ‘Since then, we have attempted to engage in dialogue but this has run its course and no further meetings have taken place or have been scheduled. ‘With the passage of time, our chairman, Andrew McCormick, wrote to Mr Wallace on August 28 and received a reply on September 2. ‘Having considered the content of Mr Wallace’s reply at our most recent meeting, the RFFF has decided to retain the funds donated to our safekeeping until we are satisfied that the club is financially stable.’ The stop-gap share issue has removed any doubt about Rangers meeting this month’s payroll and will also enable the repayment of £1.5m in loans to shareholders George Letham and Sandy Easdale. However, the club will need to raise further significant funds to make it through this season, most likely via a wider share issue. The distrust that exists between fans and the current regime has caused damaging falls in matchday income, with just 15,208 turning out for Tuesday night’s League Cup win over Inverness. http://www.dailymail.co.uk/sport/football/article-2760388/Rangers-Fans-Fighting-Fund-not-500-000-Ibrox-assurances-given.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490
  22. For all you guys who refuse to support your club,shame on you all. Watching the game over here with a few of my Canadian friends, So this is the mighty Rangers you're always braging about asks one buddy. I'm lost for words,and I am truely embarrassed.(okay we won tonight) but the stadium is practically empty,with no atmosphere. On our recent north American tour,we had sell out crowds,and way more atmosphere(noise buzzing for 90 mins.) I'm not sure what's holding you guys back from picking up your season tickets, but I am sure that you are killing our club.as I said before,SHAME ON YOU ALL.
  23. I read various hints in the main stream wondering how long Graeme Wallace would be with us. Now I see from a very unreliable source (and Rangers hater) that he's on "gardening leave" and was only wheeled out for a photo op at Kirkaldy. Apparently he contacted Dave King a few weeks ago and is now on his way out. Nash has been filling in. Is it true ? Are there consequences we should be preparing for ?
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.