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http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=1961&newsCategoryID=3&newsID=14129
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We are f----d. 27 January 2015 Rangers International Football Club plc ("Rangers" or the "Company") £10m Credit Facility and associated transfer of 26% of Rangers Retail Limited The Board of Rangers announces that Rangers Football Club Limited ("the Club") has entered in to agreements with independent.co.uk/news/business/news/sports-direct-stops-20000-staff-taking-other-work-by-using-zero-hour-contracts-9661746.html Retail Limited and associated companies ("SD"), to provide a long term on-going credit facility of up to £10m (the "Facility"). The Company's financial condition has been perilous for a number of months exacerbated by lower than expected match attendances. The Directors have implemented a cost cutting program with which they have made significant progress. There is however an immediate need for a substantial injection of capital, and the Directors have considered a number of options. The terms negotiated with SD (which are reversible in respect of the Facility) represent the optimum combination of quantum and duration of funding, allowing the Company time to arrange permanent capital which can be used for strengthening the playing squad. The Facility is structured in two separate interest free tranches. GBP 5million will be available immediately for working capital purposes and for the repayment of the credit facilities with MASH Holdings Limited which was entered into on 27 October 2014. All rights and security associated with the MASH facility will be cancelled. The Club will transfer 26% of the share capital in Rangers Retail Limited ("RRL") to SD for the duration of the Facility (the "Transfer"), which will be transferred back, at no cost, upon repayment of all outstanding sums owed by Rangers and its subsidiaries to SD. There is no specified repayment period for the first tranche of the Facility. The Facility is to be secured by (1) a floating charge over the Club's assets and (2) fixed charges over Murray Park, Edmiston House, Albion Car Park, and the Club's registered trademarks. None of the security that is being given to SD covers Ibrox Stadium, which is specifically excluded and remains in the full ownership of the Club, free from any security. SD will also have the right to nominate two directors to the board of Rangers for the duration of the Facility, any such nomination will be subject to regulatory consent pursuant to the AIM Rules and other regulatory bodies. If the entire sum drawn down is repaid, the Facility will be deemed to be terminated, all security will be released, the 26% of RRL will revert to the Company and all rights of SD to nominate Directors to the Board of the Company will cease. The second tranche of GBP5 million, which repayable 5 years after drawdown, will be used, if required, for working capital purposes and is subject to due diligence by SD prior to drawn down. The Company has also agreed that from the 2017/8 season, for the duration of the Facility, any future shirt sponsorship proceeds will be for the benefit of RRL. RRL will declare a dividend of a total of GBP 1,610,000 prior to the Transfer. The Club will use the proceeds of its share of this dividend, inter alia, to repay sums owing to SD in respect of the cessation of onerous leases on unprofitable stores entered into by a previous Rangers management team. RRL is a joint venture between the Club and SD whose business is selling merchandise both on-line and in stores. In the period ending 27 April 2014, RRL made a profit before tax of GBP 1,172,893. SD is a Related Party under the AIM Rules and accordingly the Facility is a Related Party Transaction pursuant to AIM Rule 13. The Independent Directors, consider, having consulted with WH Ireland its nominated adviser, that the terms of the Facility are fair and reasonable insofar as shareholders of the Company are concerned. The Directors would like to thank all the Rangers Stakeholders who showed an interest in helping the Company. Commenting on the Facility, David Somers said: " The Board has sought for some time to establish a long term funding solution for the Company in order to create a platform of stability to build for the future. This Facility begins this process and we very much hope that it will be augmented with further permanent capital in due course. In addition, the executive team have made strides in addressing the cost base of the Company in order to improve our financial condition and working capital profile. We very much hope that we can now move away from having to seek short term funding solutions and can focus our efforts towards investing in the first team playing squad, a return to profitability and to re-establishing Rangers in the top league in Scottish Football and in due course, to European competition. The Board now calls upon all shareholders to rally together to achieve this goal."
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Statement from the bears due at 6pm (approx) keep the faith guys please, from FF
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Been trying to get my head round things for a while now..... Exactly what influence does Mike Ashley have over the current board??? Recently, we have seen investment proposals from King, Sarver & 3Bears all knocked back in favour of offerings from MA, which have been very heavily weighted in favour of the lender. What interest does MA have in the club??? Personally I think he wants to control the merchandise. However, if he turns the fans against him (as he has), no-one will buy the stuff he's selling, so where's the benefit??? MA has been told that he can't own any more shares by the SFA, therefore he can't invest directly into the club. Any money will come in the way of loans, therefore increasing debt - debt that will be more difficult to repay since SD now control 75% of the retail channel. Couple that with the reduced attendance etc & cash flow is severely impacted. Has MA been the one really pulling the strings all along??? Was he the main force behind Chuckles?? Could he be the Easdales true puppet-master??? To me nothing about MA's involvement makes sense. He is a very successful businessman - no-one can argue that - but the way things are being run @ Rangers, it's as if people want it to fail!!! The Board etc appear to be trying their best to drive the fans/customers away.
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Just sent a quick note to the RFB chair (tomclements@rangersfansboard.co.uk) to respectfully suggest his organisation discuss a vote of no confidence in the RIFC board asap. In the absence of any other organisation meeting with the club, I think the RFB should be forced to hold the club directors to account at the earliest opportunity. Feel free to join me... -
Former Italy midfielder Rino Gattuso wants to be Rangers manager one day. Current Rangers team boss Kenny McDowall is working his 12-month notice having handed in his resignation. And 37-year-old Gattuso, who spent a season with Rangers as a player, this month applied unsuccessfully for the vacancy at Hamilton Academical. "My dream is to maybe one day to have the chance to work for this club," he said after attending a tribute match for former defender Fernando Ricksen. "I played today, but manager is a different job. I am sure 100% that this is a big club." Gattuso did not wish to comment on his application to manage Accies after Alex Neil's switch to Norwich City. Hamilton last week appointed former captain Martin Canning as player-manager and insisted that they had already decided they wanted the defender to succeed Neil before they received expressions of interest from the Italian among others. After yesterdays game I would love this to happen! even in a charity game he had more fight in his little toe than our team all season!!! he would shake the team up and get the journey men working for their over inflated wage packet........
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ByPAUL THORNTON The Sun Published: 18 minutes ago CHEEKY Celtic fans are planning to light the blue-touch paper on next week’s long-awaited Old Firm clash - with a full page ad explaining why Rangers are a new club. Sections of the Hoops support have clubbed together to take out the message in a Sunday newspaper one week before the tie. The lengthy message sets out why some Celts reckon the Gers are a different outfit from their historic rivals following the oldco’s liquidation in 2012. After organising through forums and supporter sites a group of dozens of fans have clubbed together a four-figure sum to place the statement. The message states: “As Celtic supporters, we regrettably recognise that our club had an association with Rangers (1872) through the collective descriptive term, The Old Firm. We believe this term is now redundant following the liquidation of Rangers (1872). “On 1st February Celtic supporters will support our team in the semifinal against a new club, which came into being in 2012. “This will be the first ever meeting between the two clubs and the purpose of this statement is to place our position on record so that Celtic supporters can enjoy the occasion for what it is and without playing any part in what we see as the Rangers ‘club continuation’ fiction.” The stunt is sure to wind-up Bears who were buoyed by Lord Nimmo Smith’s report which saw Rangers retain their titles in 2013. At the end of December SPFL chief executive Neil Doncaster firmed-up that view when he insisted the team were “absolutely” the same club. He said: “It’s the same club, absolutely. “The member club is the entity that participates in our league and we have 42 member clubs. “Those clubs may be owned by a company, sometimes it’s a Private Limited Company, sometimes it’s a PLC, but ultimately, the company is a legal entity in its own right, which owns a member club that participates in the league. “It was put to bed by the Lord Nimmo Smith commission some while ago – it’s the same club.” Bosses at the paper where the ad is due to run contacted Police Scotland to make sure it would not spark trouble between the supports. Last night the force said: “We are aware of the advert.” Rangers declined to comment. But Union of Fans spokesman Chris Graham said: “We’ve been over this time and time again. The football authorities have said it’s the same club and Lord Nimmo Smith has said it’s the same club. “I don’t think Rangers fans are paying any special attention to the online crackpots among the Celtic support who continue to put forward this notion. I’d have thought they’d have better things to spend their money on.”
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26/01/15 12:13pm Chris Graham, of the Rangers' Supporters Trust, is confident that the fans will have an influence in the club in the coming weeks. http://www1.skysports.com/watch/video/sports/football/teams/rangers/9670177/graham-confident-of-fans-influence
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...now there's just hatred and bitterness. KEITH looks forward to this weekend's game and tries to see through the nastiness and petty squabbles that surround it. IN the endless search for rational thinking on the subject of Scottish football – and on Celtic and Rangers in particular – social media is seldom an ideal starting point. A digital breeding ground for card-carrying bampots and extremists of all denominations, it never ceases to amaze just how much rancid hostility and barking insanity can be squeezed into 140 characters or less. Often it is a place where the very dullest of wits go to be unburdened and emptied out on to a screen. More often than not, as will without doubt be the case this week and beyond, it quickly degenerates into online loutishness and a feeding frenzy for the terminally unhinged. Already, the build-up is dominated by anger and insults. This, of course, is not to say every Old Firm fan who lurks around on the internet must slaver and breathe through the mouth. Absolutely not. On the contrary, some of them are fiendishly clever. Every now and then one will pop up quite unexpectedly on Twitter and manage to succinctly nail it. Like the Rangers fan who, when discussing what lies ahead at Hampden this weekend, offered up the following: “There’s no rivalry any more. Just hatred. It’s sad.” That’s the truth, right there. As much as these two clubs and their followers might posture and growl at one another – no matter how many full-page newspaper ads they might take out in the coming days – the reality is their two teams are about to engage in a phoney war. What was once a formidable sporting rivalry is now a fading memory. This fixture is the headline act in Scottish football’s odditorium. Yes, it may well be watched in big numbers but only because it holds all the fascination of a modern-day freak show. As a newspaper man of more than 25 years, there was nothing quite like the adrenalin rush of a Glasgow derby. The ferocity of the occasion made it completely compelling. Then, on top of all that, came the Larssons and Laudrups, de Boers and Di Canios – men whose skills would light up and shine like a thing of beauty making it easier to ignore the surrounding ugliness. Now that’s all there is left. The Great Ibrox Implosion of 2012 and events since have ravaged Rangers and reduced them to a state of irrelevance. There is no contest between these two clubs. None at all. It is hard to imagine Ronny Deila’s Celtic not winning this League Cup semi-final and winning comfortably. His team is stronger and more talented than Rangers in pretty much every department. It ought to be really quite straightforward. But even if it is not – even if somehow Rangers were to spring up and catch Celtic cold with the kind of sucker punches that floored Chelsea and Manchester City over the weekend – in a wider context nothing much will really change. Deila might find his relationship with Celtic fans so badly damaged that no amount of post-match fist-pumping from Pittodrie to Rugby Park can fix it. But, even so, he will deliver the club’s fourth successive league title. The summer would then be used to debate whether Deila deserves another shot at qualifying for the Champions League. Even if the general consensus is “no” then Celtic will go on about their business just the same, only with a new man in charge. That’s the worst case scenario at Parkhead. The Champions League remains Celtic’s be all and end all. Over at Ibrox, meanwhile, a once great footballing rival continues to eat its own feet off. The worst that can happen to Rangers fans is that their team might be humiliated. Maybe annihilated. But again nothing really changes. Nor for that matter would a victory, as far fetched as it might seem. Chances are they would be wiped out in the Final by either a resurgent Aberdeen or an equally thriving Dundee United. And even if by some miracle this rudderless, managerless team, which cannot stay out of harm’s way in the Championship, went on to actually lift the League Cup then so what? They’ll be looking inwards because before they can aspire to competing against their neighbours, first they must fix their own house. Where Rangers are concerned, there will be another meeting at Hampden this week which is of far greater significance to the club’s future. And it will take place tomorrow, not out on the pitch but on the sixth floor. Mike Ashley will not attend but his lawyers will be there, or at least they’ll be on the other end of a conference call, as the SFA’s judicial panel gets down to the business of dealing with the Sports Direct tycoon’s interest in all matters Ibrox. His legal representatives will ask for more time – possibly months – to fully consider the charges which centre around their man’s influence in the boardroom. The SFA’s lawyers will argue that no such lengthy delay is necessary to prepare Ashley’s case. It is likely that the whole process will be stalled for two to four weeks. Meanwhile, Ashley is expected to further tighten his stranglehold with another wad of emergency cash, as much as £10million – a great deal more than Rangers require in order to survive until new shares are released. This entire deal appears to be designed to suit Ashley more than to satisfy the needs of a club that may find itself saddled with a huge debt mountain to one man. These are the issues Rangers must tackle before they are even remotely ready to go toe to toe with their city rivals. And even though clarity may be provided when the shareholders vote at an egm a few weeks from now, potentially smashing the current regime and rebuilding the boardroom, there are no quick fixes. For the time being then, this rivalry has had its day. But the hatred rages on. If only it were confined to the land of the hashtag. http://www.dailyrecord.co.uk/opinion/sport/keith-jackson-celtic-v-rangers-5043134
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https://www.youtube.com/watch?v=fP7xL2Eco6c This was a flag that the Standard Liege supporters unfurld at their game against Anderlecht. The flag depicts the beheading of Steven Defour who played for Standard before moving to Porto and now returned to join Anderlecht. The player was obviously distraught on seeing the flag. Surely this is going past the borders of supporting your club.For me it is dispicable.
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Strapped in for yet another transfer window? Well, here we go! Graeme Shinnie (Left-back, 23, Inverness Caledonian Thistle) Max Power (attacking midfielder, 21, Tranmere Rovers) Express Graeme Shinnie on wiki -
We are very proud to receive our Certificate for our Club 1872 life membearship in Rangers First. We have been given the great honour of having Membearship number 1 in recognition of Rangers First having its origins in The Louden Tavern: Ibrox Stadium. We fully support Rangers First and all it is trying to achieve with helping The Rangers Family. We would encourage anyone who hasn’t joined its 5600+ contributors to consider doing so – please look at http://www.rangersfirst.org – Now is the time to make a difference Club 1872 Certificates are in the process of being sent out we believe so should be with people soon.
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If loans are given by Ashley Ibrox will not be used as security -Sky Sports News.
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Not much yet, but here we go ... Rest later or from behind the pay wall of The Sun
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Grant Russell @STVGrant 17s18 seconds ago None of the 55 games Steve Simonsen is accused of betting on were Rangers matches. Chris Jack @Chris_Jack89 47s48 seconds ago Rangers keeper Steve Simonsen issued with a notice of complaint for breaching SFA gambling rules. Has until 29/1 to respond. Hearing 12/2
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http://www.rangers.co.uk/images/FansBoard/Minutes/RFB_Minutes_080115.pdf
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by Alan Clark | Deputy Editor http://www.thecoplandroad.org/2015/01/rangers-fan-ownership-pipe-dream-no-more.html
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Peralta is gone.
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I see Rangers First are at over 4k members now, as are the RST The example of Hearts having over 8k members paying in every month was often held up as something we should be quite easily topping with the size of our support Well now we have matched it, and will overtake it at the current rate of sign ups, quite an achievement considering its not backed by the club the way Hearts is I think as the schemes grow, and the numbers look more impressive, people who were not sure will be more likely to say "this could actually work" and sign up Its just a shame in typical Rangers fan fashion its split into 2 factions.. if it was one scheme sitting at 8k and rising steadily every day things would look very rosy for fan ownership imo Any chance of the 2 merging?
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http://www.dailyrecord.co.uk/sport/football/football-news/jack-irvine-paul-murrays-more-5015233? THE Easdales have launched an astonishing attack on Paul Murray, mocking the former Rangers director and questioning his commitment to the club. A statement released by Jack Irvine, family adviser to the Ibrox club’s major shareholders, hits back at Murray for speaking out against the current regime in today’s Record Sport and savages him for being part of the board when former chairman David Murray sold the club to Craig Whyte for £1. Irvine said: “ So like an episode of The Living Dead, Paul Murray emerges from his borders lair having vowed never to return. He says he expects a smear campaign against himself and Dave King and in the same breath compares the Rangers board to Gerald Ratner. Hypocritical? You decide. “If Mr Murray and Mr King ever do get anywhere near the club they are welcome to carry out a robust financial investigation. The Easdale brothers have never taken a penny from the club and nor have they claimed any expenses. “One begins to wonder if we are not dealing with Paul McKenna as opposed to Paul Murray who appears to have hypnotised himself and his cohorts into obliterating the memory fact that they sold their beloved club for one pound. Rangers men? You decide.” In fact, former Deutsche Bank executive Murray launched an eleventh hour bid to persuade former David Murray against the Whyte deal. Forecasting the liquidation crisis which just over a year later brought the Glasgow giants to their knees, he said at the time: "In my opinion, Craig Whyte has not adequately demonstrated what his strategy is for managing and funding a negative outcome on this matter."
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This whole crew are the worst thing that has ever happened to Rangers. -
Chris Graham @ChrisGraham76 24m24 minutes ago WH Ireland Limited: Accept the Legitimate Request for the Rangers EGM https://www.change.org/p/wh-ireland-limited-accept-the-legitimate-request-for-the-rangers-egm?recruiter=216314766&utm_source=share_petition&utm_medium=twitter&utm_campaign=share_twitter_responsive … -
The day I take lessons from Easdale on what is and isn't in the best interests of Rangers, there'll be proper fiscal responsibility in Ibrox. Can it be that even after everything he doesn't grasp how detested he is? He lost his right to tell fans what is in Rangers best interests when he started hocking the club off to Mike Ashley. http://www.bbc.co.uk/news/uk-scotland-glasgow-west-30922826 Rangers director Sandy Easdale has said police are investigating threats made against him amid the ongoing and acrimonious battle for the Ibrox club. Officers are believed to be monitoring his home after internet posts allegedly urged fans to attack his house in a bid to remove him from the club. Mr Easdale, 47, said he had also received threats by email and letter. Last week, several hundred fans protested outside Ibrox stadium against the current Rangers board. In a statement released to the BBC, Mr Easdale said: "I have received several threats that are now in the hands of the authorities and I am confident that Police Scotland will get to the bottom of this. 'Violence and intimidation' "I appreciate that feelings are running high but I would like to make an appeal for calm. "This sort of behaviour is not in the best interests of the club, its shareholders or its true supporters." Mr Easdale said members of the Rangers board had been "subjected to an unprecedented level of abuse". "People are entitled to air their views but I hope that all parties will agree that violence and intimidation are unacceptable," he said. "All I want to see is the best possible outcome for Rangers." Police Scotland said it did not comment on operational details. Various fans groups have voiced opposition to the Rangers board for some time amid ongoing financial problems. It is understood that the club cannot pay this month's wage bill and needs immediate funding. A £10m loan has been offered by Mike Ashley, the owner of Sports Direct and Newcastle United, who holds an 8.92% stake in Rangers International Football Club - the football club's holding company. In return, Mr Ashley wants security over Ibrox stadium and its Murray Park training complex - a move that has enraged some fans who say the stadium should never be in danger of being taken away from the club's control. About 600 supporters demonstrated before and after the club's abandoned Championship game against Hearts on Friday. Following reports of disturbances, police arrested one man and said they expected to make more arrests after studying CCTV footage.
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The Rangers Supporters Trust (RST) is delighted to announce that, following a successful meeting yesterday, the Rangers Fans Fighting Fund (RFFF) has thrown its considerable finances and influence behind the RST's continuing fight to ensure Ibrox remains under the control of the club. We are delighted that the RFFF has taken this decision and would like to thank them for doing so. There is now a substantial legal fund available, should it be required, to fight any attempt by this board to pass security over Ibrox to Mike Ashley. We will work closely with the RFFF going forward to ensure every avenue is explored. http://www.therst.co.uk/news/rst-gains-rfff-support-for-ibrox-legal-fight/
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http://supportersnotcustomers.com/2015/01/20/why-scotland-needs-rangers/
