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  1. http://www.bbc.co.uk/news/uk-scotland-29050877 Former Rangers commercial director Imran Ahmad has returned to court for a third time in a bid to have £620,000 of club assets frozen. Lawyers acting for Mr Ahmad claim he is owed a £500,000 bonus for the time he spent working at the Ibrox club. The Court of Session in Edinburgh heard Mr Ahmad is worried about the potential prospect of Rangers becoming insolvent. Lord Stewart continued the case to Friday when lawyers for Rangers will address the court. Mr Ahmad, who has twice lost court bids to have Rangers' assets ring-fenced, claims he is owed £500,000 for negotiating deals and wants another £120,000 to cover legal expenses. Advocate Kenny McBrearty QC told Lord Stewart that Mr Ahmad is concerned about the current state of the club's finances and fears Rangers would not be in a position to pay up if the court eventually rules in his favour. He told the court Rangers have sold 23,000 season tickets this season, down 15,000 on last season. Mr McBrearty said the Rangers board's latest plans for a share issue may only raise £3.6m and cover part of the club's obligations. He added: "There is a significant hole in the club's finances for the forthcoming season."
  2. What can this board do to pacify the fans? Is there anyway the directors can turn both the finances and the trust of the supporters around? With the club unable to repay George Lethams loan and the stark warnings from London that the investors may not support the short sighted share issue to the level required (75% uptake or the issue will not proceed). The fact that the club couldn't convince or provide 2 potential investors to underwrite the share issue let alone see any of the controlling investors (BPH Marg and Laxey) put their hand up to do so, then what is next should the share offer fail? Mr Letham has gracefully given the club a short time to re pay his loan and I can't see this being done if as it looks, the share issue doesn't provide enough capital. Does the immediate future of our club rely on this short sighted offering? If it fails will the directors be in the unenviable position of declaring insolvency? It certainly looks like it. One thing has been missed by many board apologists since Fridays announcement, why with the finances in such a state did it take so long for the board to even attempt to seek this small investment via share sales? With the amount of accountants at our club surely one of them must have been able to see this coming sooner and not left it till the last possible minute to panic. Did they maybe want the season ticket sales to finish before setting the alarm bells as I see no reason that fans have been able to predict even with 100% st renewals that the club would not get through this calendar year without investment. I spoke to Mr Wallace as far back as February and asked him what the club would do should the season ticket sales not reach the required level and I also asked him at the same meeting why not do a share issue now if one was available. Mr Wallace at this time suggested waiting as the price would be higher later in the year. I raised an eyebrow at this claim as I would have thought the less cash in the bank would surely not increase the share price but Mr Wallace has vastly more experience than me and I wrongly took his word on this. Maybe he didn't gauge the reaction to ST renewal notices that were working their way to postboxes at this time I have no doubt that the board apologists will say " aye it's because of the low season ticket sales they need the money and it's the fans fault they can't raise the dough" REALLY? The season ticket deadline was back in April and the board have had almost four months to react to the results, my goodness that's around 120 days which seems to be the normal reaction time round our boardroom to do anything these days. My prediction and that shared by many others is, if the share option fails to reach the 75% buy in, the fans will be blamed for not buying enough ST and putting the directors in this position, then the shareholders will be blamed for not bailing them out and the outcome will be "we needed to do a deal on the training ground/ cheap deal on naming rights to get us out of trouble, we are a good shiny new board" I actually feel sympathy for a director or two at this time because not only are they struggling to keep the lights on, they have to contend with in fighting and power struggles in the boardroom which will no doubt be also hampering their efforts to do the right thing I haven't even touched the "where's the promised investment?" question which has been promised now by both sides of the boardroom split. All this drama going on while a potential investor has declared the willingness to invest £30m but can't even be giving financial information when he's been asked to underwrite a share issue. The mind boggles. Sort out your boardroom differences, cut the crap and spin and pick up the phone. It's good to talk and you did claim you're "ready to listen". Craig https://www.facebook.com/SonsOfStruth
  3. RANGERS fan George Letham has reluctantly agreed to give the Ibrox board a short extension to repay the £1million loan that was due last week. The wealthy supporter stepped in to lend his boyhood heroes the seven-figure sum earlier this year as chief executive Graham Wallace was forced to seek a quick fix to the Gers' cash crisis. As part of the agreement, Rangers were scheduled to give Letham his money back by the close of business on Friday, but after the Light Blues announced plans to raise around £4m in a share option last week, the prospect of him receiving his money appeared bleak. SportTimes understands Letham held full and frank discussions with Wallace on Saturday and agreed to a short extension to allow the under-fire board more time to come up with the money. With cash reserves running low at Ibrox, a refusal from Letham would have left Wallace and his fellow-directors with a huge financial headache. But after stepping up to the plate to help Rangers in their hour of need in March, the lifelong Light Blue was not prepared to pull the rug from under the board's feet at this time. The full extent of the Gers' financial plight was laid bare in a statement to the Stock Exchange last week when the board admitted that the future of Rangers International Football Club plc would be 'uncertain' if all 19 million of the new shares were not snapped up by existing investors in the coming weeks. Any funds that are raised will be used to pay off Letham's £1m loan and the £500,000 deal that was agreed with Sandy Easdale, both of which were secured against the Albion car park and Edmiston House. The Ibrox board originally clinched a deal with major shareholders Laxey Partners but that move came under huge criticism from supporters after it was revealed the Hedge Fund would collect £150,000 in interest payments for the short-term loan. Rangers had a cash balance of just £4.2m at June 30 this year, but with £2.7m of that unavailable as use for working capital, the board have been forced to issue more shares in a bid to repay Letham and Easdale and provide much-needed money for the coming weeks. With the financial picture once again bleak at Ibrox, boss Ally McCoist was unable to make any last-minute moves to bolster his squad before the transfer window closed last night. The Gers' two most valuable assets, Lee Wallace and Lewis Macleod, remain at the club, but seven players have gone out on loan - Barrie McKay (Raith Rovers), Calum Gallacher (Cowdenbeath), Danny Stoney (Stranraer), Luca Gasparotto (Airdrie), Robbie Crawford (Morton), Tom Walsh (Stenhousemuir) and Craig Halkett (Clyde). http://www.eveningtimes.co.uk/rangers/letham-gives-rangers-extra-time-to-repay-1million-loan-178673n.25212709
  4. I wouldn't disagree with much of this to be fair. BY GORDON WADDELL Gordon Waddell: Like Thelma and Louise, Rangers have arrived at their destination.. the edge of a cliff 31 August 2014 08:37 AM By Gordon Waddell GORDON reckons Rangers are at the edge of a precipice but the cash crisis hasn't stopped the club signing back-up keeper Lee Robinson in a move typical of the way the club has been run for the past few years. THEY sold their road back to the top of the game as ‘The Journey’. It would appear Rangers have arrived at a destination many financial experts predicted for them long ago. The edge of a cliff. As the directors sit there like Thelma and Louise, with the engine revving, you wonder if the question was not whether the club would end up being driven over the edge but more a matter of when the crash would occur. How else do you explain it? No sane person would surely run a business the way they’ve run theirs. It’s as if they have committed commercial suicide. An example? It didn’t make a headline. Barely registered a mention. But if you want even a tiny indication of exactly how dysfunctional Rangers are, then look no further than the signing of Lee Robinson last week. A 28-year-old back-up keeper to a 35-year-old back-up. When they already have the Scotland Under-19 No.1 AND the Scotland Under-17 No.1 on their books? Another wage? Aye, why not, eh? We’ve been splashing money needlessly for two and a half years on players we don’t need and can’t afford – another won’t kill us. Their share offering on Friday was like taking a tube of Savlon to a cremation. They’ve admitted to the stock exchange that if they don’t get at least £3m, they’re knackered. And even if they do, they’ve openly shifted the problem a couple of months further down the line. Yet still they sign players like autograph hunters? They act as if they don’t give a monkey’s. Other clubs coming back from the brink, the first thing they attacked was their cost base. Trimmed all the fat and started from the ground up. Live within your means. New club motto? Numquam Iterum. Never Again. Yet here we are, back at square one. Ally on the back pages, pleading: ‘Don’t sell my stars’. Why not? Truth is you should never have been allowed to sign most of them in the first place. This whole ‘We’re Rangers and until someone tells me otherwise, we’ll continue to behave like Rangers’ schtick? McCoist is a bright, articulate, likeable guy. I refuse to believe he’s so gullible. That he never sat there and thought ‘This can’t be right’. Who would you prefer to be in charge at Rangers? I’m not saying anything I haven’t said to him in a dozen different press conferences. I’ve asked him why they weren’t hunkering down, signing players for their level, saving cash. He always replied: “The fans deserve better.” Damn right they do. But they also deserve their club to survive after what they’ve put in over the years. In a football sense, I haven’t yet met a Rangers fan who didn’t think the club would have been better bleeding half a dozen youngsters into their line-up back on day one and developing them properly than going down the road they did. I haven’t yet met a fan who wouldn’t have put up with the odd defeat to see some genuine progress and fiscal responsibility rather than watching the likes of Richard Foster, Stevie Smith, Ian Black, Dean Shiels or Jon Daly. Or Lee Robinson. Nice lad, decent gloves – but what about Liam Kelly and Robby McCrorie, two of the highest-rated teenagers in their position in Scotland? Every other club in the country is giving youth a chance and reaping the rewards. Not The Rangers. Sorry lads. Can’t trust you, even on the bench. No time to have faith in you. Other diddy clubs might get away with playing teenagers. They may even excel. Hell, look at Conor McGrandles – 82 senior games by the age of 18 and a £1million move from Falkirk to Norwich. Rangers are too good for that, though. Listen, the dysfunctional management of the club’s affairs runs a million miles deeper than the team. These are just examples of how a total breakdown in management manifests itself in public. What goes on behind closed doors or up marble staircases? We may never know. But the fact they’re putting out the begging bowl in such a humiliating manner suggests none of it is good. And then we have the ever-hovering presence of Dave King . King has been criticised for his silence but don’t let anyone kid you that he hasn’t been waiting for this exact moment. The lowest ebb. The final wheezing breaths of a regime someone as long in the tooth as he is always thought would arrive. Sure, he’s a Rangers fan. Sure, his intentions for the club will be more honourable than the current incumbents. But spare me the idea his timing suggests anything other than his own benefit being served too. In the meantime, the Rangers fans are once again left with what they call Morton’s Fork – two choices, both undesirable. Take up the share option, keep a shambolic regime functioning a little longer. Or not a penny more. Flush them out and suffer the consequences. I don’t envy them their decision.
  5. by Andrew Smith BY THE end of the current campaign, Celtic will have a record of four competitive victories in the Champions League group stages across the past seven years. They had a fifth win in 2008-9, but that came in their final game when they were already condemned to prop up the section. The club, then, are hardly heavyweights in the most glamorous European domain. They aren’t even light middleweights. The furore engendered by the 1-0 home defeat against Maribor in midweek that meant Celtic will have contested the Champions League only three times in seven years was, as the club’s chief executive Peter Lawwell said the other day, not “rational” but “reactive to a bad, bad result”. Yet, Celtic themselves are partly responsible for the fact the fans will flog them for failure in the qualifying stages of the Champions League since they continually set themselves up as “one of the best-run clubs” in the universe. A club so spectacularly well-run would not flop against (in Legia Warsaw and Maribor) not one but two clubs boasting a fraction of Celtic’s budget, it is legitimate to contend. Even with a new manager, as Celtic have in the yet-to-convince Ronny Deila. Not so, Lawwell contended. “It happened to Gordon [strachan], 5-0 [away to Artmedia Bratislava], happened to Lenny [Neil Lennon], with Utrecht, Braga and Sion, and it happened to Martin [O’Neill] , in Basel, and we never threw the towel in. We said ‘these things happen’; it is transition. It is happening to [Louis] van Gaal [at Manchester United], it happened to David Moyes. It is transition. In big clubs, it takes time. So that is wrong what you are saying.” Celtic’s strategy isn’t wrong. It doesn’t require a complete rethink. But they must do the right things correctly, and that is where questions are entitled to be asked. Overall, they have signed a bad crop of players in the past two years, and been too sluggish to replace the players they have cashed in handsomely on. It is not a matter of being done in by downsizing, however easy that line is to trot out. If Serbian striker Stefan Scepovic succeeds in filling the No.9 hole that has existed since the departure of Gary Hooper last season, then Celtic will have made £2.2 million work for them better than the near £6m they forked out in the previous two windows on Teemu Pukki, Amido Balde and Leigh Griffiths, three forwards Deila patently doesn’t trust. Celtic require to show a little more humility about the element of luck that determines whether their policies end up appearing visionary or vacuous. Lawwell at least offered up that the other day. “I hope you don’t think we are being immodest but when you are the target of the criticism [we have had], you have to defend yourself. And it’s not just us that are saying we are one of the best-run clubs in Britain and Europe… are we not that? “It is difficult. With the uncertainties, the risk. We don’t think we are God’s gift, we don’t think the strategy is flawless. Of course it is flawed, because it is football, and it is chance. Karagandy last year, they hit the bar. Callum [McGregor’s shot the other night] might have not hit the bar. In football you have to prepare for that and not think you are fallible, and prepare for being fallible. Which I think we have done. “Economically, we are far stronger than Elfsborg, Helsingborg, Karagandy, far stronger than Legia, far stronger than Reykjavik and Maribor. Far stronger. But these things happen. Far stronger than Inverness. But these things happen. If it was done on economics purely, then we should be in the Champions League every year. But there is a football element, a sporting element If we are in it three years out of five, we are doing well. We should be beating Maribor.” There is a tedious attempt to put Celtic’s recent struggles down to the absence of a Rangers in the top flight. Yet, Celtic now have a £10m reserve when, with the Ibrox club as top-flight rivals, they are in debt. Lawwell, though, doesn’t downplay the squeeze on finances caused by the disappearance of the rivalry, offset by nearly £30m player sales inside the past 15 months. “When Rangers went down, we took £100 off the season tickets. So that is £4m [down] for two years. The Rangers games bring in at least another £3m. The fact that there is a perception among our supporters that there is no competition and you are going to win anyway, and so you don’t go to the game, means you could have lost £10m a year, quite easily, on the back of Rangers going down. How we have coped is seeing that ahead and the strategy over that ten, 11-year period, has seen us successful on the park and stable off it, as Hearts and Rangers have gone bust. And yet we are still getting it [in the neck].” Deila might consider himself fortunate that he is not getting it more, with grumbles over his failure to convert a 1-1 draw away to Maribor into a home result that took his team through to the group stages. The Norwegian was willing to defend his tactics, which seemed higgelty-piggelty, for the fact he opened up in the second half when Celtic only needed to contain. “We were too passive in the first half and would have lost if we had kept going that way,” Deila said. “We need more offensive power and controlled the game and looked more of a threat with Kris [Commons]. And then they scored.” Deila has not seen new signing Scepovic in the flesh and said he has no reason to do so because of the trust he has in John Park’s scouting department, which has been “pretty successful” over four or five years. The manager is placing great store in the Serbian being the target man required, and the signing must work for him as Celtic go into a Europa League campaign against Salzburg, Dinamo Zagreb and Astra. Against the Austrians, Croatians and Romanians, none of who can match Celtic’s £32m football wage bill, he must show the team is progressing. Deila admits it is not acceptable for Celtic to lose in Champions League qualifiers to far more modestly financed opponents, but appealed for judgments on him to be reserved for now. If he wants a crumb of comfort, no new Celtic manager since Billy McNeill in 1979 has made any impact in their first tilt at European competition with the club. And, not coincidentally, McNeill had been in the job for a season when his first campaign arrived, after Celtic missed out on Europe in predecessor Jock Stein’s final campaign. “If we meet those teams [Legia and Maribor] next year and we lose like we did against Legia then I have to take the criticism. But it’s very unfair right now because a lot of things have happened, it’s coming straight into something and we’ve been losing players. “It has been tough, a tough ten weeks. I can assure you of that. It has been much tougher than I thought it would be. You can’t ever know what you are going into this job – you have to experience it. But I am enjoying it. I am in pain also sometimes. But you always have to have in your mind that you have to bounce back, that you have to find a way out of it. “We need time to get the squad back into the same order that it’s been in before. Consistency – you can see Van Gaal is buying the whole of Europe and isn’t winning so many games either. It takes time. Previous managers have come in here as well and not been the best in the first year but they have been allowed time to build his ideas and structure. Next year when I sit here – judge me and harshly if I haven’t done the things. This year the most important thing is to win the league and we want to do well in the cups too. To get the triple would be fantastic. “I want to use all the matches in Europe to see how good we are and develop through that. I hope we go through. Next year I hope we can go into the Champions League group stages and go into the qualifiers thinking: We look stronger, this is going to happen.” And if it doesn’t happen next year, the name calling won’t just be against Lawwell from the small cluster of malcontents that will gather at the front door. http://www.scotsman.com/sport/football/spfl/andrew-smith-celtic-need-to-show-more-humility-1-3526234
  6. http://sport.stv.tv/football/video/3755311980001/? I have to say, i may not be his biggest fan but i support him here completely. The press in this country are an absolute disgrace. Ally gives them all the sound bites they want, all the time and interviews and when he asks for a little bit back they can't afford him it. Well played Ally, well played.
  7. ..........but we want the 'right kind' of partner on board. THE need for a sponsor has never been greater, with clubs missing out on Celtic's Champions League cash bonus, but Iain Blair says that the powers that be won't be rushed into making a decision. Iain Blair of the SPFL SCOTLAND’S top clubs may have waved goodbye to a cash bonanza because of Celtic’s exit from the Champions League but SPFL chief Iain Blair says the season isn’t a write-off. Every Scottish Premiership club would have picked up £100,000 from UEFA had Celtic not crashed out to Maribor on Tuesday night. And with finances stretched, Blair admitted there was still no sign of a sponsor for our domestic league or the League Cup. He said: “We’re talking to people who are interested in the title and the cup sponsorship. Will it be this season? I can’t say. “We’d like there to be and we’re working towards that but I can’t say there will definitely be a sponsor this year. “People tend to have longer-term plans for their budgeted spend for sponsorship. “We only got to grips with it this time last year and although people think that’s a long time, with this kind of expenditure companies plan significantly in advance.” The news will not please club chairmen, especially with Blair insisting sponsorship had to be “the right kind”. So what type would the SPFL reject? He said: “We want someone who shares our values and ambitions. “It’s not simply a case of looking for someone who wants to publicise something, we want someone to partner us. “We need someone we’re comfortable working with. The guys are working on it as we speak and I’m confident we’ll get there.” Blair refused to adopt a pessimistic view after Celtic’s Euro flop, even though club bean counters will be putting away their calculators. He said: “Celtic can still progress in the Europa League and that could even help our co-efficient. So let’s not write the season off completely.” http://www.dailyrecord.co.uk/sport/football/football-news/spfl-chief-still-no-sign-4122017
  8. THE displays of the Rangers team on the park last week were cause for optimism down Ibrox way. Ally McCoist's side netted 12 goals in their two competitive outings and put their shaky early-season form well and truly behind them. The size of the crowds in the home games against both Clyde and Dumbarton, however, were reasons to look towards the future with trepidation. And the attendance at the SPFL Championship fixture with Dumbarton on Saturday afternoon was particularly alarming. For the league meeting with the Sons was perhaps the best chance so far to gauge what the turnout will be like at Rangers home games in the 2014/15 campaign. The Petrofac Training Cup matches with Hibs and then Clyde were always going to attract smaller crowds due to the stature of the competition and the size of the opposition. Much was made of the fact that only 11,190 supporters filed through the turnstiles in the 8-1 victory in the latter game last Monday. It was the lowest Ibrox attendance at a competitive fixture for 29 years. Yet that encounter with part-time opponents from the bottom tier of Scottish football was - despite Gers great Barry Ferguson being in charge of the opposition - expected to draw that sort of response. There were 43,683 in the Championship opener against Hearts a fortnight ago. But there were special circumstances surrounding that fixture. The League One flag was unfurled and the Govan Stand was renamed in honour of Sandy Jardine before kick-off. Plus, the first game against age-old adversaries Hearts after two long seasons of often uninspiring outings against our national game's lesser lights was guaranteed to put a fair few bums on seats. No, the Dumbarton game at the weekend was a far better barometer of what size the attendances - and, in turn, the gate receipts -will be for Rangers in the weeks and months which lie ahead. And the fact that only 31,175 turned up on a perfect afternoon for football must be worrying for both those who follow the fortunes and those who control the purse-strings at the troubled Glasgow institution. It was the lowest turnout at a league game at Ibrox since 24,177 fans watched Rangers defeat Falkirk 4-0 thanks to a Robert Fleck double and goals from Davie Cooper and Terry Butcher on December 13, 1986. A home game against Methil minnows East Fife around this time last year drew 42,870. No company can have nearly a quarter of their customers disappear in the space of 12 months without drastic consequences. Even if all of the 34,000 fans who bought season tickets to see Rangers in League One last season had renewed this summer, the club would still not have had enough money to see them to the end of this term. So for just how long will the Light Blues be able to limp along with just over 20,000 season book holders and fewer than 10,000 turning up and paying at the gate on match days? There are ambitious plans for Rangers to hold another share offering in the very near future and the hope is to raise in the region of £4million of much-needed capital from that. But with shareholder Sandy Easdale and wealthy fan George Letham due to have loans totalling £1.5m repaid, financial experts have predicted that will only sustain the club until the end of the year. The ongoing lack of clarity over Rangers future off the field is overshadowing the fact that on it they appear to be getting their act together after some poor performances. They brushed aside Dumbarton with ease at the weekend thanks to strikes from Lee McCulloch, Darren McGregor and Nicky Clark. An own goal from Chris Turner aided their cause considerably. Bilel Mohsni, who was highly fortunate not to be red carded by referee Brian Colvin for his trip on Scott Agnew, also turned the ball into his net late on to give the sizeable travelling support a reason to cheer. That lapse of judgment by the Tunisian, though, could not wipe the smile from McCoist's face after a highly satisfactory performance by his charges from front to back. He said: "The skipper played in central midfield and chipped in with a goal, Nicky got a good goal and our right-back played well and scored a great goal. "To be scoring goals is always good. But to be scoring goals from different areas is an added bonus for us. "I was annoyed we didn't keep a clean sheet, but I thought the football was of a high standard. We created a lot of chances, scored four good goals, hit the post and had a goal disallowed. "It is consistency that is going to win us the league this year. That is what we have to work hard to get. "There are going to be a lot of difficult games for us in the months ahead and we have to be at our best every week." http://www.eveningtimes.co.uk/rangers/deserted-seats-show-reality-of-angry-rangers-fans-voting-with-their-177533n.25139848
  9. By Richard Wilson BBC Scotland What does the immediate future hold for Rangers? It is 120 days since the chief executive Graham Wallace published an overview of his 120-day business review, but there are still aspects of the running of the club where doubt resides. Two weeks ago, the Ibrox board announced that they were "considering a possible equity issue" to raise £4m. Their hope was that an institutional shareholder would underwrite the offer - ensuring that the full amount would be raised - before it was opened to all existing shareholders to see if they would invest to retain the size of their stake. Yet even the Stock Exchange announcement carried the caveat that "there can be no certainty on the outcome of these discussions" with the leading shareholders. The Union of Fans released a statement raising their concerns about the possibility of Mike Ashley, the owner of Newcastle United, underwriting the issue and so increasing the size of the near 5% stake he already holds in Rangers International Football Club. There now seems little likelihood of that occurring, though, not least because under Scottish Football Association rules no individual can hold stakes of more than 10% in two clubs. The share issue itself so far remains uncompleted, since no Stock Exchange announcement has been made. “Rangers remain a club that lacks long-term stability and any sense of connection or shared values between the directors and the fans” Some inside Ibrox had hoped to finalise it this week, although institutional shareholders have seemingly shown little appetite for putting more money into Rangers. The reality is that the £4m will be used to fund the club and pay off the £1.5m in loans still owing to the shareholders George Letham and Sandy Easdale, who is also chairman of the Rangers Football Club board. Should the full amount be raised, it will likely provide Rangers with enough financial support to reach the end of the year. In the meantime, the annual accounts are due to be published next month, once audited, then the board intends to hold the annual general meeting - probably in October - and seek permission from shareholders to offer new shares to non-shareholders in a fresh issue. In his 120-day review, Wallace said that the board's intention was to seek shareholder approval for a new share issue in the autumn, however the fall in season ticket sales - prompted by continuing distrust between the fans and the board - left them needing to seek a solution to their immediate financial issues first. Rangers, in effect, remain bedevilled, given the board and shareholders' inability or unwillingness to finance the operation of the club and the necessary additional investment that is required. This is the backdrop to the team's attempts to build a solid foundation to this season's bid to gain promotion back to the top-flight. Rangers remain a club that lacks long-term stability and any sense of connection or shared values between the directors and the fans. While that relationship remains fractured, there is little prospect of the rebuilding process being fully completed. Progress has not been particularly swift on many of Wallace's aims, including the fundamental one of restructuring the club's finances and seeking the external investment required to underpin the club's ambitions. The attempt to appoint a chief football operations officer has stalled, after talks with the former Rangers and Bayern Munich midfielder Christian Nerlinger failed to deliver an agreement. While the idea is sound - not least because Rangers still do not have a properly function and extensive scouting network, let alone the kind of medical, performance and strategy support structures expected of a club of this size and the stature it wants to regain - it seemed impractical to try to recruit somebody now when the club's finances are so fragile. The wage of the individual alone would be substantial, but there would be significant associated costs in setting up the infrastructure and appointing new personnel. Rangers cannot currently sustain those costs. The process of setting up fan liaison board has begun, but Saturday's visit of Dumbarton will provide an indication of the level of disaffection amongst the fans. Some intend to buy tickets on a match-by-match basis, having chosen not to renew their season tickets, although there are additional costs incurred by the club for policing and stewarding 'walk-up' supporters. The re-emergence of Charles Green brought a new round of white noise to the story of the club, but the reality is simple: Rangers need money and the board is rapidly running out of options. Dave King remains committed to investing in Rangers, via a larger share issue, but so far the board has chosen to stick to its strategy of seeking £4m initially. That might reflect concern that a shareholder vote might not deliver the necessary permission to offer shares to non-shareholders - Sandy Easdale held the 28% of proxy votes at the last AGM - although a restricted share issue at this stage does not require a prospectus to be published. Wallace identified a number of improvements and initiatives that Rangers require, and also the level of funding it takes - he estimated £20m to £30m - but it is the financial demands that are critical. No other investors are lining up to put money into the club. Options are limited. http://www.bbc.co.uk/sport/0/scotland/28904062
  10. Taken from FF "It has come to our attention that the Rangers board are considering a move which could see Mike Ashley underwrite the £4m share issue they previously announced. This has been necessary due to understandably poor take up from existing investors. We believe the SFA have been approached to find out what would be required to give clearance for this, due to Mr Ashley’s ownership of Newcastle United. We would question the wisdom of approaching someone who, despite his obvious wealth, cannot significantly invest in the club without removing himself from his ownership position at Newcastle. Why are the board persisting with these short term, desperate measures? The club needs urgent, substantial investment - not a short term fix which will be lucky to see us past Christmas. Even if they are successful in raising the £4m, almost half the money will immediately have to be used to repay overdue loans. The board indicated to us that they could raise this money "at the push of a button". Sandy Easdale also indicated that investors were lined up. Clearly neither of these statements have turned out to be true. Also, the vast bulk of this money could have been raised by greatly increased season ticket sales if the board had been prepared to properly safeguard the club’s assets. If the SFA give special dispensation to Mr Ashley to up his stake in Rangers will it be irreversible and without any possible future sanction? Will the board get an unequivocal assurance that the SFA will not use this issue as a stick to beat the club with further down the line? The SFA have a track record of attempting to impose draconian sanctions on Rangers using tenuous methods. It would be extremely unwise of this board to unnecessarily put the club into a situation that allowed the SFA to act in this manner again. We are also concerned that, under UEFA regulations on dual ownership of clubs, Mr Ashley cannot have a “decisive influence over decision making” at Rangers without it leading to the possibility of us not being able to compete in European competition. He could find himself holding around 20% of the shares in our club, having control of all club merchandise and being the largest single shareholder if he underwrites this share issue. Will the board clear this unequivocally, and in advance, with UEFA to ensure that Rangers will not miss out on European football in the future because of Mr Ashley’s ownership of Newcastle? It would be negligent of the board not to gain the above assurances from the relevant football authorities. We would ask them to publicly confirm that they will have full written clearance for Mr Ashley from both UEFA and the SFA before moving ahead with any plans for him to underwrite this share issue. We would also ask them to confirm that any such clearance is free from any caveat which could negatively affect Rangers in the future. Finally, Mr Ashley’s initial purchase of shares in Rangers appears to have been linked to his Sports Direct merchandise deal. The only man inside Rangers who liked that deal at the time it was put in place was Charles Green. We hope that any possible assistance given to the board by Mr Ashley at this time will not see him clinch another favourable deal, perhaps to rename Ibrox at a knock down price. Can the board confirm that renaming of Ibrox will not be part of any underwriting deal with Mr Ashley and that we will not be seeing garish Sports Direct signage defacing our iconic Main Stand?"
  11. This mantra is in stark contrast to the axiom stated about boxers but it holds true at Ibrox, whether it is turmoil, on and off the field, Charles Green or Dave King. It was just another Sunday at Ibrox with normal levels of turbulence and uncertainty. There was a stark contrast to the dignified and fitting tribute to the late Sandy Jardine in the lurid headlines that screamed in the morning newspapers. Basically, they read: Chuck is back and this time it is business, not personal. Affairs at Ibrox must be investigated in two sections: the business and the playing. The former is the more urgent. As one Rangers supporter told me yesterday: "There are more pressing issues to address than whether Lewis Macleod should be playing wide right." The return of Mr Green is more than an amusement, though. The tales of George Soros may be as tall as Peter Crouch on stilts but the backstory to the former chief executive's latest foray into the media contains an element of truth that points to what is going on at Ibrox. It is this: there are significant developments unfolding at the club. The financial situation is acute with the board seeking investment and Green wants to be near at hand when that deal is brokered. More interesting is the relative silence of King. He, too, though has not gone away. Much of the action from Graham Wallace, the chief executive of Rangers, and King, the man who would be sovereign at Rangers, is taking place in London, with mixed results. A City source, who invested in Rangers in the initial public offering, told Herald Sport last night that Wallace has been active in trying to arrange support for another share issue. However, he added: "He has not met with conspicuous success." This was said wryly. The message, though, was deeply serious. "There is no way I would advise further investment at Rangers under the present circumstances and under the present board. It is that simple," he said. King has been working the City since at least March. His initial strategy was to canvass support for his plan to take the proxy vote for significant shareholdings and force change. This, increasingly, has been seen to be impractical, perhaps even unworkable, as long as the major players remain united within the Ibrox boardroom. The pressure must be applied to the Beaufort Group that holds the majority of shares. This has been applied effectively by the strategy of some fans to withhold season ticket money. There has been much argument over whether this constitutes a boycott but it would be much more instructive to investigate the action's consequences. It has brought King back into play, despite the reluctance of some on the Ibrox board to deal with the South African businessman. King's patience was criticised over the summer but he may just have played his cards astutely. Rangers are searching for money and King claims he has it. This seemingly straightforward case of demand and supply, however, founders on the rocks of implacable politics at Rangers. King, though, has improved his position quietly over the summer and may in the position to make his move. The re-emergence of Green at this crucial juncture is not coincidental. The Yorkshireman, who has the copyright of the terms bluff and plain-speaking, has again caused considerable annoyance to those inside Ibrox, not least Ally McCoist. The Rangers manager was understandably frustrated at Green's latest intervention at the weekend when he stated that he could raise money to extricate the club from the deep financial hole. McCoist described all of this as "a sideshow" and it is, but it is one with a purpose. The former chief executive was reminding everyone that he will have a say, even if his influence may be limited, in what happens at Ibrox. With this financial game playing out in the media, it is almost crass to discuss a football match but what happened at Ibrox in front of 43,683 deserves consideration. First, Hearts deserve enormous credit for a gameplan and for the willingness of their players to carry it out. Craig Levein and his football department have recruited wisely. Robbie Neilson set the team up cleverly and there were particularly outstanding contributions from Danny Wilson, in central defence, and Osman Sow, in attack. Success for Hearts was ensured by increasing fecklessness in Rangers ranks. After they had missed early chances, Rangers defended awfully. Wilson made the most of a free header and Sow capitalised on disarray in the Rangers backline to score emphatically, seconds after McCoist's side equalised. This frustration - and the very fact that he was asked a question he had to answer - probably accounted for McCoist's relative sharpness as regards Green. He will, though, be more concerned about solving the matters he has influence over, including finding the ideal wide man who can produce opportunities for Kris Boyd and Kenny Miller. The latter had to come back to midfield on Sunday to find a touch and he was insistent afterwards that the side had to create more chances. The team faces an interesting challenge at Falkirk on Friday. The board confronts more difficult problems with every day that passes. http://www.heraldscotland.com/sport/football/king-still-in-play-as-financial-chess-game-rumbles-on.25024715?
  12. From The Evening Times Their desperation is growing by the day. Keep up the pressure, lads.
  13. I'd tried to temper my bewilderment at our close season signings by reflecting on the often used mantra that "there is no substitute for experience". But having a manager with a propensity for playing just one out and out striker it seemed reasonable to question the wisdom of signing 2 ageing, albeit proven strikers, taking our total to 5. I suppose in some ways the fact we played with 2 up front today is a positive improvement - cherish it, its probably the only positive you will find in this article. With young Charlie Telfer exiting Ibrox and directing barbed comments at our manager's apparent unwillingness to blood youngsters, the departure of goalkeeper Scott Gallagher and the re-signing of the veteran and occasionally calamitous, Steve Simonsen does little to suggest that youth is to be the favoured option. One wonders how young Nicky Clark feels his development will fare as the least favoured option behind Boyd, Miller, Daly and given today's personnel selection, even Shiels. Why is this important ? Well if we do manage to successfully negotiate the championship, and I appreciate after today some are saying that's a pretty big "if"; rather than return to the top league with the nucleus of a young team we will instead be replacing ageing players in key positions. "Professors" of football often speak about the "spine" of a team - goalkeeper, centre back and striker. Of our current spine I see only Cammy Bell offering any kind of continuity in this regard. Which of course means new blood, a settling in period and that's before we find the readies for such an overhaul. Without wishing to induce further panic it's probably worth asking the question if there will even be the money for such an overhaul ? So what does all this experience get you for your money? Well not a lot judging by today's performance. You could forgive a schoolboy team for switching off after scoring and giving yourself a lifeline but a team brimming with seasoned pros? Furthermore how can it be that Nicky Law and Ian Black despite having countless games together under their belt, give the appearance they have never played with one another before? The booing of the formers man of the match award should serve as a warning to all at Ibrox that whilst we may be loyal we are certainly not gullible. Kenny Miller did what we have come to expect him to do, and were it not for the detrimental effect to Nicky Clark's development and the fact he is a short term rather than a long term answer, you would see this as a beneficial signing for the season, particularly if young Clark was paired alongside him. Kris Boyd I'm not so sure of. He somehow managed to look even less mobile than 1st time around, so much so, I half expected Police Scotland to bring the game to a halt and announce they had found Clyde, the missing Games statue. The progress and improvement of Lewis Macleod and Fraser Aird has been deeply satisfying for us blue legions, the former in particular showing particular potential. Could a few others have benefited from an extended run in first team football ? Some will remember Dick Advocatt recognising the potential of a young Barry Ferguson and building a team around him, sadly that will not happen so long as young Macleod finds himself played out of position on the wing We need to stop making excuses for Ally. Yes he has had to endure challenges no other Rangers manager has had to contend with but that really does not excuse signings which are devoid of long term vision, as well as tactics, team selections and substitutions which have us all bewildered. There was a moment today when the cameras panned to John Greig sitting in the stands, and on seeing his image on the screens applause echoed around the ground. John is a Rangers legend on and off the park. Unfortunately he was not a very good manager. I fear history may be repeating itself.
  14. Sometimes you feel like a wee greet. http://willievass.photoshelter.com/gallery-image/100814-Rangers-v-Hearts/G0000hlKyrxgNifI/I0000Ko1_cYXoR6o/C0000DwY1ciUOXqU Will somebody put the pic. on here please.
  15. Gonna charge up the phone. Have a feeling there might be some Rangers breaking news to come tonight as well! https://twitter.com/tedermeatballs
  16. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=12043401 Looks like the £5m button isn't as easy to press as they think...
  17. Here's the Daily Record on Craig Whyte in November 2010: "Financial whizzkid Craig Whyte stands on the brink of pulling off the biggest deal of his life... Record Sport understands self-made billionaire Whyte has entered into the final stages of negotiations to buy control of the club he loves from Sir David Murray... A deal worth around £30million is now believed to have reached such an advanced stage that sources say Whyte, a high-roller who splits his time between a home in London and the idyllic Castle Grant in Grantown-on-Spey, could even have the keys to Ibrox in time to fund a major refurbishment of Walter Smith's top-team squad in January... By the age of 26, Whyte was already Scotland's youngest self-made millionaire. Now, 13 years on, and in charge of a vast business empire, his wealth is off the radar." Here's the Daily Record on Craig Whyte in October 2012: "A private investigation commissioned for Rangers showed Craig Whyte had a record of tax avoidance, failed companies and double dealings – before he was sold Sir David Murray's majority shareholding... The report, prepared by private investigators Titon, described Monaco-based Whyte as a 'fuyant' – French slang for an evader or manipulator. It warned there was no evidence to back claims circulated by Whyte's spin doctors that he was a billionaire with plenty of cash to finance Rangers. In fact, it said, there was no evidence he was even a multi-millionaire. The report talks of "the questionable source and extent of his reported wealth". And here's the Daily Record on Craig Whyte in August 2014: "The taxman was chasing Craig Whyte for £3.7million before he took over Rangers. HMRC focused on Whyte's personal finances and made several failed attempts to get him to pay his dues before, during and after his catastrophic reign at Ibrox... Documents seen by the Record show: * The authorities instructed debt enforcers to chase Whyte with a bill for almost £4million and threaten him with bankruptcy in May 2011, the same month that he bought Rangers... * Yet when he struck the notorious deal with Ticketus for funds to finance his Rangers takeover, he gave the firm a personal guarantee he was worth nearly £33million... At the same time he was able to run up a further £15million in unpaid taxes and penalties during his nine months in charge of Rangers. Whyte had bought Rangers for £1 from Sir David Murray in May 2011, while agreeing to wipe out the club's £18million debts... A sizeable proportion of Rangers fans still hold Murray at least partly responsible for the club's demise, arguing he should not have sold to Whyte, whose reputation had already been questioned." Perhaps the fans should be holding the Record to blame as well. When the paper was reporting on Whyte's hyped wealth it failed to mention the fact that serious questions were being asked in the blogosphere about the veracity of his claims. How could the Record know that Whyte was a billionaire with "a vast business empire" and wealth "off the radar"? And when it did know otherwise, why did it take so long to inform Rangers' fans? And why no apology to its readers? Note that 2012 reference to spin-doctors, as if it was all their fault rather than that of the paper's journalists for accepting what they were told without checking. The age-old problem of sports reporting was the willingness of journalists to act like "fans with typewriters" (or, nowadays, fans with laptops). The reporting of the Rangers' saga over the past five years has been a classic example of reporters being no more than stenographers for PRs offering them stories they didn't care to verify. http://www.theguardian.com/media/greenslade/2014/aug/06/daily-record-rangers
  18. ALLY McCOIST today revealed Rangers midfielder Arnold Peralta is currently stranded in Paris - trying to sort out a work visa. Peralta has failed to return to Glasgow since the end of last season and McCoist admits he has no idea when he is coming back. The Honduran internationalist is in France with his girlfriend attempting to secure the visa he needs for a work permit. The 25-year-old was tipped to leave Ibrox last season after newspaper comments attributed to him appeared in his homeland. He struggled to hold down a regular first team place in League One last season and was quoted as saying he would move on in the summer. The 30-times capped player was due to represent his country at the World Cup Finals in Brazil. However, Peralta suffered a thigh injury in Gers final League One match against Dunfermline. He missed friendlies against Turkey and Israel before being ruled out of his national squad for the tournament in South America. He has not turned up for pre-season training or the tours of either the Highlands or Canada and the United States. But McCoist has confirmed he is fully fit after shaking off his knock and expects him to rejoin his team-mates for the 2014/15 campaign. He is, though, just not sure when that will be. The Gers manager said: "The mystery that is Arnold Peralta is definitely coming back - but when he's coming back, sadly I can't give you a definite on. "He's been in Paris trying to sort a visa. That's where he is at the moment and we're waiting. "The good news is that he's fit - the health issues are long gone. It's just location issues. "We are in dialogue with him, we haven't left him. He just needs to get his visa sorted and that of his girlfriend's. He needs the visa for the work permit. It's not getting it that's the problem - it's the delay that's the issue." Meanwhile, McCoist has revealed that Cammy Bell, Lee McCulloch and Lee Wallace should both be fit for the Petrofac Training Cup game against Hibs at Ibrox tonight. The pair picked up knocks in the pre-season friendly match against Derby County at Pride Park on Saturday. Elsewhere, Seb Faure and Richard Foster, who missed the weekend fixture, could both be available for the first competitive game of this term after resuming training. McCoist said: "The boys came in on Sunday and were iced up, but everyone was training yesterday. "Wallace is okay, the skipper and Cammy too. We're all out training so that indicates we're in reasonable health. "Foster is okay as well and Faure has also trained. I'd be hopeful they have a chance." Tickets for the Hibs game are on general sale and are priced £21 for an adult, £15 for a concession and £5 for a junior. Fans can pay at the Copland Road Stand tonight. http://www.eveningtimes.co.uk/rangers/paris-visa-riddle-for-rangers-midfielder-peralta-174850n.24958801
  19. Suspect the Daily Record will make for interesting reading tomorrow. Will make us even more frustrated though. #justicefortherangerssupport Glad to see what looks like some things HMRC would rather stay unsaid are going to finally come to light. A couple of tweets tonight. Story here: http://www.dailyrecord.co.uk/sport/football/football-news/ex-rangers-owner-craig-whyte-being-3992415
  20. I'm not clear on what is classed as repetition so perhaps we can have 1 topic where we can say what we like (within reason) and let off steam. Also, certain people can just stay away from this thread and then they won't be offended.
  21. Steven Whittaker says he's no regrets about quitting Rangers despite his injury nightmare at Norwich. SCOTLAND defender headed to Carrow Road 2012 when Ibrox club imploded but he has only made 39 appearances since he moved south. STEVEN Whittaker swears he has no regrets about quitting Ibrox despite an injury nightmare at Norwich. Whittaker left Rangers in 2012 when they were dumped in the bottom tier and moved to Norwich. Injuries have restricted him to just 39 appearances and he said: “I knew I could do better than play in the Third Division. “And I didn’t want to spend three years of my career trying to come back up the leagues. Norwich offered me the challenge to come south and I have enjoyed it. “I still have two years here so I am looking forward to what we can achieve. “I’ve trained hard and all I can do now is make sure I can’t be edged out of the team.” http://www.dailyrecord.co.uk/sport/football/football-news/steven-whittaker-insists-no-regrets-3940468
  22. "The Union of Fans were approached approximately two weeks ago, on behalf of the PLC board, to once again try to reach agreement on a binding legal guarantee over the club's assets. These discussions continued and various drafts were passed back and forth. The statement that the board released yesterday was rejected by UoF last week due to the fact that it does not give a binding guarantee over Ibrox and that several misleading statements are made within it. Despite us negotiating in good faith, the board has seen fit to release the statement anyway. We were seeking written guarantees over both Ibrox and Murray Park. The board removed all reference to Murray Park. This was not an oversight - they are explicitly refusing to include Murray Park in any undertaking. We believe this is because the board are actively looking to sell this vital club asset due to their failure to so far secure enough funds to see the club through the current season. Their statement is also disingenuous and is a slap in the face for the thousands of fans who have given up long cherished seats attempting to get this board to guarantee the future of our clubÂ’s home. Despite their attempts to claim otherwise, it has never been their position to give any kind of legally binding guarantee over Ibrox and they still have not done so. This most recent statement, on behalf of the so called 'Football Board' - not the PLC board - has crucially not been released to the stock exchange and therefore reduces the chance of shareholder action should they go back on their word. The board claim that they are "committed to protecting the assets of the club". Currently the club has four main assets. Two of those, Edmiston House and the Albion Car Park, have already been used as security for crisis loans due to financial mismanagement. The board continues to refuse to give any legally binding safeguard over Ibrox and we believe they are actively looking at a sale and leaseback of Murray Park - a vital asset if we are ever to properly develop our own talent. They have shown no commitment to protecting the club's assets. This board has committed to raising funds from existing investors through a new share issue in September. We do not believe that they have support from those investors for what is essentially money to keep the lights on and we would ask Graham Wallace to urgently clarify the position on new money coming into the club. The board have lost just under half of the club's season ticket holders due to a complete lack of ability to build trust. Even if those fans were to buy season tickets now, the club still does not have the funds to complete the season and yet the board keeps us in the dark over how they will address this shortfall. We ask them to stop the half-truths, spin and smoke and mirrors and tell fans the truth."
  23. SO that was North America, a place which brought the touring Rangers squad mixed results and mixed fortunes during its stay in the United States and Canada over the last two weeks. Was the trip perfect? With over 14,000 miles flown, a few injuries picked up on the way and goals conceded in three games out of four – one of those a defeat – it’s hard to argue it was. But did it serve a purpose? Absolutely. Scorelines from across the Atlantic might not have been convincing but being there has allowed Gers to keep building well ahead of 2014/15. Despite what the world might think at present following the unrelenting happiness of the Commonwealth Games opening ceremony, Scottish people are naturally quite pessimistic. The old phrase which claims some are only happy if there’s something to complain about springs to mind and that’s certainly the case with certain Light Blues fans I know. While there are undoubtedly things Ally McCoist will wish had gone differently, he has more positives to reflect on than you might think. Following the intense schedule in Brora at the start of the month, further double sessions abroad – particularly in California – have helped increase fitness levels again. As the pool settles into a more regular training programme after the weekend, any lingering weariness will go and the players will get sharper as they freshen up. Although the team itself still has to click into gear, individuals within it gave enough food for thought during our fortnight away. Kenny Miller’s finishing might not be as consistent as he’s hoping it will become yet but his running and intelligence will help Rangers a lot this season. Nicky Law produced a fine finish to win the game in the final match against Ottawa Fury – Gers’ best display of their four – and he looks alert and hungry too. Ian Black falls into that category as well while Stevie Smith has continued his good form from the end of last term and looks as fast and direct as ever. Lee Wallace has made a strong recovery from the hip problem which ended his campaign early in April as he limped out of the Challenge Cup final defeat to Raith Rovers. But the biggest plus of all isn’t just Lewis Macleod’s return to action but the way he has come in and stamped his mark on the team already off the back of nearly six months out. Few were left in any doubt of how seriously under threat the 20-year-old’s career was when he took unwell at the start of the year. A bad reaction to a virus left him in real danger of having to think of hanging up his boots and there was a genuine chance he’d never have the chance to fulfil his very clear potential. Thankfully Macleod has made a full recovery and so far it looks like he has never been out of the side. Against Sacramento Republic, he grew in stature the more the game went on and I was impressed by his temperament as he kept his cool despite one heavy challenge after another. Four days later at Ottawa, his footwork at times was sublime and you’ll already be hard pushed to find a better piece of skill this season than his turn to set up Law’s goal. The way he stood on the ball then turned away from two men was so elegant and it was the type of move you simply don’t tire of watching. Already there’s a clamour once again in some quarters for McCoist to move Macleod inside and give him a more central role in his midfield. Over time, I fully expect him to take a place there and he’ll both flourish and relish the responsibility such a position entails. But for now, I don’t think it’s a bad thing for him to continue on the left side for the simple reason it’s an area he and the team profits from. Sitting narrower than a natural winger would, he allows Wallace to get forward with good effect and the two combine very well down that side. It’s worth remembering that when Rangers played their best football of last season in the early part of the campaign, those two players got a lot of joy together on the left. I’m not sure having someone else in Macleod’s present position would bear the same fruit and if he was central in a 4-4-2 shape, Wallace certainly wouldn’t get upfield as much. I look forward to seeing Macleod take command and dictate from the middle over time but for now he’s doing a lot for Gers where he is. And as McCoist’s team gets stronger in the weeks ahead, I’ve every faith the club’s most outstanding emerging talent can influence games just as much from slightly wider out. http://www.rangers.co.uk/news/opinion/item/7321-best-left-where-he-is An unusually critical piece from Andrew Dickson and he makes a very good point about McLeod playing LMF allowing Wallace more freedom to attack. He may well have been prompted to write this but it is true nonetheless.
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