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  1. ...to the Light at the End of the Tunnel. 08 January 2015 By Alex Mooney At some point in the near future a fledgling genius will be tasked with writing the definitive story of Rangers since Craig Whyte bought the club for a pound. It will be an act of folly. No one even remotely sane would dream of trying to separate fact from the fiction. That brilliant brain will eventually flounder and fry in the process. The problems are many. For a start, a trillion words have already been written on the subject. And that's just from thousands of Celtic fans who took crash courses and became lawyers, forensic accountants, tax experts (specialising in EBTs and Sporting Integrity), and insolvency practitioners. Meticulously sifting through that vast body of 'research' alone will be a Herculean effort. If this sorry tale has taught us anything it is that the obsessed only believe what they want to believe. Objectivity is non-existent in the Old Firm battleground where agendas, conspiracy theories and paranoia rule. There is only one truth for fanatics - theirs. Any book that attempts a dispassionate account would have to substantially include the shameful witch-hunt against Rangers which I wrote about on this site two years ago. Also of interest would be the Rangers Tax Case blog that acted as a hanging judge in the EBT tribunal then vanished into the night like a skulking dog when the taxman lost. Yet, astonishingly, it won an Orwell award. Panel members who thought a blog consisting of anonymous posters peddling bile, character assassination and using Stalinist censorship was worthy of a prize should be ashamed. The great man of letters who railed against totalitarianism so brilliantly can never have been so insulted and demeaned. What a travesty in his name. Of course, the bampots are still out there on the net toiling away 24/7 in pursuit of their obsession - killing Rangers. Isn't that odd, given they insist their great rival is already dead? Even some of the more prominent Scottish indy blogs are foolishly getting in on the act. In the run-up to the referendum their mantra was inclusion - we're all in it together and together as one the new Scotland will thrive. Apart from Rangers, it now seems, and the 'corrupt' SFA and mainstream media who are in cahoots in a masterplan to covertly run the country. This is unhinged nonsense and a pitiful attempt to suck people in to a divisive and vengeful agenda that has nothing to do with integrity. Or fair play. Or the state of Scottish football. It is simply a vindictive campaign against one club. Bigots masquerading as defenders of justice fool only themselves. It is also cowardly. The Ibrox club is on its knees and struggling for life after being pick-pocketed by a bunch of chancers and incompetents. It needs the support of everyone in Scottish football - especially Celtic fans whose team have been badly affected by Rangers' absence in the top flight. Yet the keyboard warriors are not only kicking a man when he's down, they are revelling in it. The handful of mainstream journalists who egg the obsessed on - and make a shilling from it - should take a serious look at what they are condoning. This poisonous agenda has no place in our lives and they have a professional responsibility not to feed it. So good luck to any aspiring authors out there - your book on Rangers will be howled down by the haters who, I fear, will bore us to death for many long years to come. What is important now is looking ahead and charting a path out of the shambles at Ibrox rather than endlessly analysing the past three years - history, and the courts, will take care of the charlatans who bled the club dry. The only consolation for fleeced fans is knowing that the snake-oil salesmen will go to their graves, their characters forever stained. The last AGM, conducted from a gazebo on a bitterly cold December day in Govan, was utter pantomime as the bumbling board members entered stage left to boos and vicious name-calling. Dignity was conspicuous by its absence as the grey clouds gathered ominously over that theatre of screams. Onlookers around the football world must have been shocked by what they witnessed as this once mighty institution washed its dirty linen in public. How many times has it been said the club had reached its lowest ebb - only for new depths to be plumbed? Surely that grim day was as bad as it can get? With Dave King and the Three Bears entering the fray, with others perhaps, I will take the risk of this coming back to haunt me and say the club really has bottomed out - and can now find a realistic way back to the top. Mike Ashley's involvement is puzzling. Did he ever have a genuine strategy for the club apart from selling the merchandise for a quick buck? The billionaire recluse could easily have bankrolled a recovery with loose change from his back pocket but chose not to. So why get involved at all? Perhaps he doesn't know either. Maybe all that money has gone to this head and made him a stranger to himself. What he must also do now is make himself a stranger to the club. Rangers returning to rude health is conditional, of course, on the new investors and board members being up to the task unlike their inept predecessors. But that shouldn't be a problem if they follow basic business rules. A plan to revive a football club isn't that difficult to understand - you reduce expenditure and increase income. That's it. It's called, dare I say it, Doing a Fergus. There can't be a Gers fan anywhere in the world who wouldn't welcome such a character coming into their club right now with a five-year plan. All it needs is an honest broker. The first step on the long and winding road is getting the fans onside - all of them. Without their backing there is no future. The only way that can happen is for the new regime to be open and honest. Supporters know there are massive problems and tough times before things get better. They can take that. What they cannot bear is being kept out of the loop. Trying to fool them with clever soundbites won't work. There has to be truth. Even if it's bad news, fans will respect the board for that - and back them. But you can't just ask for trust - it has to be earned by not treating them as outsiders. They are all part of the Rangers family so must be viewed as such. The fans also have a massive role to play among themselves. Once an honest regime is in place it will be time to heal the splits and unite. Common cause has to be found to get the club back to where it should be. Filling the stadium and buying season tickets has to be a priority. A solid future for the club takes precedence over personality clashes and point scoring. Trying to say with any certainty when this saga will end is fraught with difficulty but pressure is building on the board. They are running out of time and money. And even the dumbest of them must realise there is no club without the fans - who have lost all patience with those whose tenure can only be regarded as a complete failure. They must step aside soon. Once that happens the real rebuilding will begin and everyone in Scottish football can get back to some sort of normality. Bring it on. http://www.therangersstandard.co.uk/index.php/articles/current-affairs/334-telling-the-rangers-story-from-whyte-to-the-light-at-the-end-of-the-tunnel
  2. PRIOR, who owns more shares than current director James Easdale, says he has no confidence in the competence or motives of the current board and is backing Douglas Park's consortium. IBROX investor Kieran Prior last night backed the Three Bears and urged them to throw every deal ever signed with Sports Direct in the dustbin. Prior broke his silence on the way forward for the cash-strapped club as he declared his shareholding to the Stock Exchange in the aftermath of the takeover bid by Robert Sarver. Prior owns more than one million shares, 1.35 per cent of the club, almost twice as many as current plc director James Easdale and more even than Ally McCoist. He allowed his stake in his boyhood favourites to be diluted after the last share issue in August because he was “unwilling to continue funding people clearly not fit to run the club”. However, his current shareholding is not for sale and he is keen to invest again in future, so long as Rangers are under the stewardship of those he feels has its best interests at heart. That’s why he’s backing George Taylor, George Letham and Douglas Park, as well as Dave King, as he offered a withering assessment of those currently in control, including Newcastle owner Mike Ashley. Prior said: “I’ve yet to meet the three new investors but I’m happy to throw my hat in with them because their credentials as men with the best interests of Rangers at heart is impeccable. “I’ve been in email contact with Dave King, an astute operator. He now has what he wanted – a stake in the club without funding the incompetence of current boardroom incumbents. Fair play to him. “I do not trust the people in control of the boardroom. Their unpopularity with the fans sets alarm bells ringing and their willingness to take shortcuts at every turn is a dreadful example of corporate governance. “I have no intention of ever backing them. Nothing they can say or do will change that. I will be voting with the fans to help re-shape the future of the club. “Rangers need a board that’s financially astute, of good business sense and logical – and they don’t have it at the moment. Hopefully, if the Three Bears and King take control the first thing they will do is hire forensic financial analysts to understand where money has been mis-spent and when the interests of individual shareholders appear to have been put before those of the wider club ownership. “I’d start with Ashley’s Sports Direct deals and if they are as ridiculous as reported I’d tear them up, throw them in the bin - and tell him to sue us and we’ll see him in court. “I’d rather not spend money on legal costs at all but if it came down to forking out £411,000 from Sports Direct on shirts the club can never sell, or on barristers and QCs to argue against those contracts in court, I know where I’d invest. “If these deals are not legally questionable – and we should seek counsel to establish if they are – then they are certainly morally repugnant. “Ashley has been mortally damaged in the eyes of fans by his own actions. The games he has played with the stadium naming rights and advertising are a nonsense. “He also appears to have reneged on obligations under dual interest rules, which is somewhat insulting to the SFA. Rangers have been punished too much by the football authorities as it is. “If he comes back to me on that, tough. I’m combative by nature – let’s get the contracts out in court where they can be examined openly and transparently. “I still don’t know why the current board haven’t resigned and the Easdales haven’t walked away. They know the value of the club would rise if they quit. “If all they want is a blazer and a seat in the Blue Room it’s disgusting. Those are not the actions of a real plc board.” Prior arrived on the scene 18 months ago and promised to look under the bonnet and, if he liked what he saw, he would invest further. Suffice to say, he didn’t see a Rolls-Royce engine. Manchester-born and London based, the former Goldman Sachs trader has spent much of the past 12 months in California, working on the launch of a multi-million dollar software firm. He rejected overtures from Brian Stockbridge to become a pivotal player on the board. He added: “He offered me board membership, all informally, when Craig Mather was chief executive. I thought Mather might have been a decent operator but maybe I was wrong. “I didn’t trust Stockbridge. I wasn’t going to try to polish his turd. I won’t be associated with anything that’s not world class. I don’t want a blazer for the sake of a blazer. “It’s important I clarify my position to supporters. I’ll continue to support good people running Rangers. “I’m intrigued by the emergence of Robert Sarver. If he wants to buy the club and elect a legitimate board that’s honest and transparent, then fine. “However, I do believe George Taylor, George Letham and Douglas Park are the best way forward. Dave King will be a key figure too. He has had issues with the authorities in South Africa but his net worth speaks for itself. “If Rangers are in good hands I’ll also increase my own holding.”
  3. ...and says 'Throw all the Sports Direct deals in the bin'. PRIOR, who owns more shares than current director James Easdale, says he has no confidence in the competence or motives of the current board and is backing Douglas Park's consortium. IBROX investor Kieran Prior last night backed the Three Bears and urged them to throw every deal ever signed with Sports Direct in the dustbin. Prior broke his silence on the way forward for the cash-strapped club as he declared his shareholding to the Stock Exchange in the aftermath of the takeover bid by Robert Sarver. Prior owns more than one million shares, 1.35 per cent of the club, almost twice as many as current plc director James Easdale and more even than Ally McCoist. He allowed his stake in his boyhood favourites to be diluted after the last share issue in August because he was “unwilling to continue funding people clearly not fit to run the club”. However, his current shareholding is not for sale and he is keen to invest again in future, so long as Rangers are under the stewardship of those he feels has its best interests at heart. That’s why he’s backing George Taylor, George Letham and Douglas Park, as well as Dave King, as he offered a withering assessment of those currently in control, including Newcastle owner Mike Ashley. Prior said: “I’ve yet to meet the three new investors but I’m happy to throw my hat in with them because their credentials as men with the best interests of Rangers at heart is impeccable. “I’ve been in email contact with Dave King, an astute operator. He now has what he wanted – a stake in the club without funding the incompetence of current boardroom incumbents. Fair play to him. “I do not trust the people in control of the boardroom. Their unpopularity with the fans sets alarm bells ringing and their willingness to take shortcuts at every turn is a dreadful example of corporate governance. “I have no intention of ever backing them. Nothing they can say or do will change that. I will be voting with the fans to help re-shape the future of the club. “Rangers need a board that’s financially astute, of good business sense and logical – and they don’t have it at the moment. Hopefully, if the Three Bears and King take control the first thing they will do is hire forensic financial analysts to understand where money has been mis-spent and when the interests of individual shareholders appear to have been put before those of the wider club ownership. “I’d start with Ashley’s Sports Direct deals and if they are as ridiculous as reported I’d tear them up, throw them in the bin - and tell him to sue us and we’ll see him in court. “I’d rather not spend money on legal costs at all but if it came down to forking out £411,000 from Sports Direct on shirts the club can never sell, or on barristers and QCs to argue against those contracts in court, I know where I’d invest. “If these deals are not legally questionable – and we should seek counsel to establish if they are – then they are certainly morally repugnant. “Ashley has been mortally damaged in the eyes of fans by his own actions. The games he has played with the stadium naming rights and advertising are a nonsense. “He also appears to have reneged on obligations under dual interest rules, which is somewhat insulting to the SFA. Rangers have been punished too much by the football authorities as it is. “If he comes back to me on that, tough. I’m combative by nature – let’s get the contracts out in court where they can be examined openly and transparently. “I still don’t know why the current board haven’t resigned and the Easdales haven’t walked away. They know the value of the club would rise if they quit. “If all they want is a blazer and a seat in the Blue Room it’s disgusting. Those are not the actions of a real plc board.” Prior arrived on the scene 18 months ago and promised to look under the bonnet and, if he liked what he saw, he would invest further. Suffice to say, he didn’t see a Rolls-Royce engine. Manchester-born and London based, the former Goldman Sachs trader has spent much of the past 12 months in California, working on the launch of a multi-million dollar software firm. He rejected overtures from Brian Stockbridge to become a pivotal player on the board. He added: “He offered me board membership, all informally, when Craig Mather was chief executive. I thought Mather might have been a decent operator but maybe I was wrong. “I didn’t trust Stockbridge. I wasn’t going to try to polish his turd. I won’t be associated with anything that’s not world class. I don’t want a blazer for the sake of a blazer. “It’s important I clarify my position to supporters. I’ll continue to support good people running Rangers. “I’m intrigued by the emergence of Robert Sarver. If he wants to buy the club and elect a legitimate board that’s honest and transparent, then fine. “However, I do believe George Taylor, George Letham and Douglas Park are the best way forward. Dave King will be a key figure too. He has had issues with the authorities in South Africa but his net worth speaks for itself. “If Rangers are in good hands I’ll also increase my own holding.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-investor-kieran-prior-backs-4937812
  4. BBC's 'The One Show' apologises after 400 viewers complain about Rita Ora's cleavage. Read more at http://www.nme.com/news/rita-ora/82087?#z8uoHhQUWBxgArwP.99
  5. I emailed the pensions regulatory authority yesterday expressing my concerns about David Somers, chairman of the Fujitsu pension scheme. I attached the Somer's email 'leaked' a few days ago. Initial response received:- Dear govan_derriere, Thank you for your email. The Pensions Regulator's role is to enforce the legislation surrounding work-based pension schemes in the UK. Our primary objectives include protecting member’s benefits of those schemes, promoting good administration and improving understanding of work-based schemes. Our primary focus is to educate and enable those responsible for managing pension schemes to ensure that the right member outcomes are achieved. We do, however, have a number of enforcement powers that we can use to help meet our objectives, such as imposing fines where a breach of legislation has occurred. We are a risk based regulator and we apply this approach when dealing with concerns around the conduct of trustees. The regulator appreciates you bringing these concerns to our attention. We will make initial enquires about the information you have provided and subject it to our risk assessment process. We may ask you to clarify the information you have already provided, but we do not encourage you to try to get any new information. If appropriate, the matter will be referred for further investigation. Please note that we are unable to supply any feedback to you about the outcome of any possible investigation. Once again, thank you for bringing these concerns to our attention. Kind regards http://www.thepensionsregulator.gov.uk/contact-us.aspx http://www.trusteetoolkit.com To whom it may concern, David Somers, chairman of Fujitsu pension scheme, Dear Sir, I understand that Mr David Somers is chairman of Fujitsu pension scheme. I have reservations about the suitability of this gentleman to hold this post & fear that he does not meet the fit and proper test. I am a shareholder in Rangers International Football Club. As chairman of Rangers International Football Club, David Somers has failed miserably to apply appropriate standards of Corporate Governance and has fallen considerably short in meeting his fiduciary duty. The attached email was released into the public domain several days ago. In this email, I believe that David Somers reveals that he has been operating on his own behalf for personal gain and not on behalf of the company and its shareholders. The email also indicates that he has backed a minority shareholder, Mike Ashley, who only owns around 9% of the company! These are not the actions of a trustworthy chairman of a publicly listed company. On 31st December, Colin Kingsnorth from Laxey Partners released this statement:- In this statement he provides a damning description of Mr Somers as 'just a wet fish agreeing anything Ashley wanted'. On PA wires: Laxey partners chairman Colin Kingsnorth confirms he has sold his 16% stake to the Three Bears: "I sold because a fans-based group were hopefully going to be the best placed to take on Ashley's power. After Ashley removed Norman Crighton, Ashley's most vocal critic, it was obvious David Somers was just a wet fish agreeing anything Ashley wanted. I am sure the Three Bears are an upgrade on us for fans and hopefully this is the start of the ownership being in the right hands." As a shareholder in RIFC, I have grave concerns about the lack of integrity shown by David Somers in his role as chairman of RIFC. I believe that any chairman needs to display personal qualities that are above reproach. He has singularly failed to do so at RIFC. I feel duty bound to bring my concerns to your organisation given he also serves as chairman of Fujitsu pension scheme Yours faithfully govan_derriere Shareholder in RIFC I append some web links that provide some additional background. http://www.telegraph.co.uk/sport/football/teams/rangers/11311642/Rangers-chairman-David-Somers-pleaded-for-Mike-Ashley-takeover-to-succeed-emails-reveal.html http://www.eveningtimes.co.uk/rangers/fans-chief-demands-rangers-chairman-david-somers-quits-over-email-193484n.115565781 http://www.express.co.uk/sport/football/548420/Shambolic-David-Somers-told-to-give-up-Rangers-chairman-s-role http://www.directorstalk.com/rangers-dave-king-slams-chairman-david-somers-bids/
  6. https://www.change.org/p/rangers-plc-board-remove-the-existing-board-accept-external-investment-and-place-external-directors?recruiter=97305010&utm_source=share_petition&utm_medium=facebook&utm_campaign=share_facebook_responsive&utm_term=des-lg-no_src-no_msg&utm_content=rp_petition_fb_share_desc%3Acontrol
  7. Thought it might be a good idea to start a thread where we actually list who owns what as disclosed to the LSE , or at least those over 1% . River& Mercantile- 5.77% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12205385.html Kieran Prior- 1.35% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12205407.html Dave King - 14.75% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12202893.html (Not including possible rumoured further purchase from R&M ). George Leatham -4.05% , http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12202893.html George Taylor -9.3%, http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12202187.html Douglas Park?-6.14%, http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12201386.html BNP Parabis - 5% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12107289.html Richard Hughes -3% ,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/11834364.html Mike Ashley ,8.92%,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12104057.html Sandy Easdale, 5.21% total inc proxies 26.15%,http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12093157.html Please feel free to add when the rest are released
  8. I have read that people with 1% or more worth of shares have been asked to make themselves known. Not been able to read it all, but can only guess this will be to do with a bid. Kieron Prior has complied and just has over 1% River & Mercantile has 5.77% Hopefully more to follow and find out who has been backing who.
  9. Ashley's man is now Financial Director.
  10. Pardon me if I've missed it, has there been any movement from Dundee Utd re. the Charlie Telfer payment?
  11. Rangers board in crisis talks after emergency £500,000 loan Roddy Forsyth explains the ongoing power struggle at Rangers between Mike Ashley, Dave King and the Three Bears, and Phoenix Suns owner Robert Sarver Email Ibrox - Rangers power struggle takes new twist after Mike Ashley loses key ally in his quest for Ibrox boardroom coup Battleground: The battle for power at Ibrox took a new twist on new year's eve Photo: PA Roddy Forsyth By Roddy Forsyth11:19AM GMT 05 Jan 2015Comments27 Comments In a day of high drama at Ibrox the Rangers board is negotiating under severe pressure to save the club from financial meltdown for the second time in three years. The plc directors are frantically trying to strike a deal with the investor alliance of Dave King – a former Rangers director – and the Three Bears consortium, who last week scooped up available shares in an audacious raid. The astonishing development followed Telegraph Sport’s disclosure last night that the unpopular Ibrox regime had reached a crisis, which was confirmed today when the club’s board announced to the Stock Exchange that they had accepted an emergency loan of £500,000 from its football chairman, Sandy Easdale, to stay afloat for another few days. The Telegraph had revealed that a major announcement to the LSE was imminent, in respect of Rangers’ parlous economic situation. The trigger was a bill from HMRC for payment of National Insurance, under threat of a petition by the tax authority for the club to be placed into administration if the account was not settled immediately. Easdale’s loan is secured on the fee – believed to be £1 million - obtained from Brentford for the transfer of the highly rated 20-year-old midfielder, Lewis Macleod. When Rangers confirmed MacLeod’s sale to the Stock Exchange on Friday, the announcement said that the proceeds would “be used for immediate working capital”. The announcement of Easdale’s loan stated that the £500,000 would “be used by the Company for general working capital purposes over the next few days”. The statement added that the loan had been offered and accepted “on a fee and interest free basis and it will be secured against the income from the sale of player announced on 2 January 2015”. Related Articles Rangers board to lose power unless Mike Ashley steps in to save directors Rangers board to lose power unless Ashley steps in 04 Jan 2015 Rangers' squad could be decimated in January 01 Jan 2015 Rangers supporters’ group urges fans to displace Ashley 03 Jan 2015 Ashley's plan to own Rangers hits buffers 02 Jan 2015 Even as the Rangers board sought an agreement to avoid the club's collapse, however, a statement from Sandy Easdale's PR advisor, Jack Irvine, brought a sharp retort from King. Commenting on Easdale's secured funding deal, Irvine said: "Once again Sandy has stepped up to the plate with this half million pound loan from his own pocket. Whilst we welcomed the recent share purchases by Dave King and Douglas Park and his consortium, this unfortunately did not put any funds into the club. "Sandy was the only option for this cash injection at such short notice. The Easdale family remain totally committed to achieving a satisfactory financial future for Rangers and they hope all parties can work together in the future with that common goal."Given that Sandy Easdale rejected new funds and was a chief architect in getting the club into this mess, lending a small amount of money is the minimum he should have done. As part restitution he should make the £500,000 a donation rather than a loan." King retorted angrily and told Telegraph Sport: " The situation whereby a short-term loan of working capital is secured on recently obtained and desperately needed working capital is not only designed to stave off immediate administration, but also to keep the club afloat while the directors try to salvage what they can before surrendering to what now looks like an inevitable takeover by the fan-friendly axis of King and the Three Bears. However, three possibilities are in play. One – currently looking the least likely - is that Mike Ashley will come to the board’s rescue, having secured control over the appointment of two directors in return for £3 million of emergency funding in October. However, the Newcastle United owner had previously tried to negotiate with the Scottish Football Association to increase his stake at Ibrox from 8.92% to 29.9% but was refused by the governing body, who insisted that he should comply with his written undertaking not to go above 10%. The second option is an £18 million takeover offer from Robert Sarver, owner of Phoenix Suns basketball club. That offer was also notified to the Stock Exchange at the start of business this morning. Again, Telegraph Sport led the way in revealing that there had been conversations between Sarver’s advisers and those connected with the Three Bears consortium of wealthy shareholders, who have bought a substantial tranche of Rangers shares, as has the former Ibrox director, Dave King. Rangers’ second Stock Exchange statement today read: “The Company notes recent press speculation and confirms that it has received an approach from Robert Sarver (or a vehicle to be established and controlled by him) ("Mr Sarver") that may or may not lead to an offer being made for the Company. “There can be no certainty that an offer will be made, nor as to the terms on which an offer may be made. A further announcement is expected shortly.” Takeover rules mean that Sarver has until 5pm on February 2 to confirm or withdraw his offer, which is worth £18 million and designed to give him complete control of the club’s equity. Again, there are difficulties with this proposal. As the Telegraph disclosed, Sarver has an interest in investing in European football clubs, as opposed to a strategy based solely on a single outfit such as Rangers. A full equity bid would take time to implement, even if it found favour with the majority of investors. When King placed an offer of £16 million in October – the deal rejected by the Rangers plc board in favour of Ashley’s short term fix of loans – it was in the form of a debt and equity mix that would have lent the club sufficient money to keep it going through the takeover process. Another problem for Sarver is that, taken together, the recent share purchases by King and the Three Bears – Douglas Park, George Letham and George Taylor – constitute a little over 34% of Rangers’ stock. They have been pledged support by other disenchanted investors and have also been allocated proxy votes. The King/Three Bears axis know that they can now call upon sufficient support to outdistance the Ashley/Easdale camp by a significant margin. Having got themselves into such a favourable position they are not inclined to stand aside for Sarver although they have, as would be expected, let it be known that they will happily have him on board as a like-minded investor. This is well short of Sarver’s original intent of attaining complete control of Rangers before looking elsewhere to acquire other football interests. One obvious objection to that as a long-term strategy is that it would infringe the same dual-ownership regulations that have prompted a disciplinary complaint against Ashley by the SFA. In any case, time is now the pressing enemy of all the contending parties. If the club runs out of cash and is forced to enter administration for the second time in three years Rangers will be consigned to a fourth successive season in the lower leagues – a prospect feared by the Scottish football authorities as well as other clubs who would benefit financially from their return to the top tier, as a consequence of better sponsorship and broadcast deals than are currently available. Rangers are again teetering on the edge of a financial precipice as the principal personalities jostle on the brink to establish who will be thrust over to the rocks below - and who will be left standing to inherit whatever remains of this once immensely proud and respected club.
  12. http://www.telegraph.co.uk/sport/football/teams/rangers/11325238/Rangers-board-in-crisis-talks-after-emergency-500000-loan.html In a day of high drama at Ibrox the Rangers board is negotiating under severe pressure to save the club from financial meltdown for the second time in three years. The plc directors are frantically trying to strike a deal with the investor alliance of Dave King – a former Rangers director – and the Three Bears consortium, who last week scooped up available shares in an audacious raid. The astonishing development followed Telegraph Sport’s disclosure last night that the unpopular Ibrox regime had reached a crisis, which was confirmed today when the club’s board announced to the Stock Exchange that they had accepted an emergency loan of £500,000 from its football chairman, Sandy Easdale, to stay afloat for another few days. The Telegraph had revealed that a major announcement to the LSE was imminent, in respect of Rangers’ parlous economic situation. The trigger was a bill from HMRC for payment of National Insurance, under threat of a petition by the tax authority for the club to be placed into administration if the account was not settled immediately. Easdale’s loan is secured on the fee – believed to be £1 million - obtained from Brentford for the transfer of the highly rated 20-year-old midfielder, Lewis Macleod. When Rangers confirmed MacLeod’s sale to the Stock Exchange on Friday, the announcement said that the proceeds would “be used for immediate working capital”. The announcement of Easdale’s loan stated that the £500,000 would “be used by the Company for general working capital purposes over the next few days”. The statement added that the loan had been offered and accepted “on a fee and interest free basis and it will be secured against the income from the sale of player announced on 2 January 2015”. Related Articles Rangers board to lose power unless Mike Ashley steps in to save directors Rangers board to lose power unless Ashley steps in 04 Jan 2015 Rangers' squad could be decimated in January 01 Jan 2015 Rangers supporters’ group urges fans to displace Ashley 03 Jan 2015 Ashley's plan to own Rangers hits buffers 02 Jan 2015 The situation whereby a short-term loan of working capital is secured on recently obtained and desperately needed working capital is not only designed to stave off immediate administration, but also to keep the club afloat while the directors try to salvage what they can before surrendering to what now looks like an inevitable takeover by the fan-friendly axis of King and the Three Bears. However, three possibilities are in play. One – currently looking the least likely - is that Mike Ashley will come to the board’s rescue, having secured control over the appointment of two directors in return for £3 million of emergency funding in October. However, the Newcastle United owner had previously tried to negotiate with the Scottish Football Association to increase his stake at Ibrox from 8.92% to 29.9% but was refused by the governing body, who insisted that he should comply with his written undertaking not to go above 10%. The second option is an £18 million takeover offer from Robert Sarver, owner of Phoenix Suns basketball club. That offer was also notified to the Stock Exchange at the start of business this morning. Again, Telegraph Sport led the way in revealing that there had been conversations between Sarver’s advisers and those connected with the Three Bears consortium of wealthy shareholders, who have bought a substantial tranche of Rangers shares, as has the former Ibrox director, Dave King. Rangers’ second Stock Exchange statement today read: “The Company notes recent press speculation and confirms that it has received an approach from Robert Sarver (or a vehicle to be established and controlled by him) ("Mr Sarver") that may or may not lead to an offer being made for the Company. “There can be no certainty that an offer will be made, nor as to the terms on which an offer may be made. A further announcement is expected shortly.” Takeover rules mean that Sarver has until 5pm on February 2 to confirm or withdraw his offer, which is worth £18 million and designed to give him complete control of the club’s equity. Again, there are difficulties with this proposal. As the Telegraph disclosed, Sarver has an interest in investing in European football clubs, as opposed to a strategy based solely on a single outfit such as Rangers. A full equity bid would take time to implement, even if it found favour with the majority of investors. When King placed an offer of £16 million in October – the deal rejected by the Rangers plc board in favour of Ashley’s short term fix of loans – it was in the form of a debt and equity mix that would have lent the club sufficient money to keep it going through the takeover process. Another problem for Sarver is that, taken together, the recent share purchases by King and the Three Bears – Douglas Park, George Letham and George Taylor – constitute a little over 34% of Rangers’ stock. They have been pledged support by other disenchanted investors and have also been allocated proxy votes. The King/Three Bears axis know that they can now call upon sufficient support to outdistance the Ashley/Easdale camp by a significant margin. Having got themselves into such a favourable position they are not inclined to stand aside for Sarver although they have, as would be expected, let it be known that they will happily have him on board as a like-minded investor. This is well short of Sarver’s original intent of attaining complete control of Rangers before looking elsewhere to acquire other football interests. One obvious objection to that as a long-term strategy is that it would infringe the same dual-ownership regulations that have prompted a disciplinary complaint against Ashley by the SFA. In any case, time is now the pressing enemy of all the contending parties. If the club runs out of cash and is forced to enter administration for the second time in three years Rangers will be consigned to a fourth successive season in the lower leagues – a prospect feared by the Scottish football authorities as well as other clubs who would benefit financially from their return to the top tier, as a consequence of better sponsorship and broadcast deals than are currently available. Rangers are again teetering on the edge of a financial precipice as the principal personalities jostle on the brink to establish who will be thrust over to the rocks below - and who will be left standing to inherit whatever remains of this once immensely proud and respected club.
  13. Just heard that one of them has loaned the club 500,000 pounds to keep things ticking over. Anyone else heard this
  14. I'm just thinking with Jig having bizarrely been promoted to player/coach in the 1st team and with him seeming to be undroppable due to also being team captain, is it maybe time Kenny McDowall and Gordon Durie considered giving the captain's armband to someone else?
  15. It was to become the stuff of legend, the type of story normally reserved for a Roy of the Rovers comic book sketch. Ranger’s manager Willie Waddell was to take the ultimate gamble, replacing his injured and iconic inspirational captain, John Greig, with a raw 16 year old youngster who had made his professional debut only weeks earlier against Cowdenbeath. It was a particularly brave decision given the setting was the 1970 Scottish League Cup Final and Rangers opponents were arch rivals, Celtic. 90 minutes later the manager’s decision was to be completely vindicated as the 16 year old Derek Johnstone scored the only goal of the game, sending the light blue legions amongst the 106,000 crowd into rapture and thus heralding the end of a 4 year trophy drought. Who would argue that fortune does indeed favour the brave? Today’s Rangers fans yearn for that kind of bravery amongst our current management. The highly publicised departure of young starlet Charlie Telfer and his criticism of the lack of opportunity for youngsters at Ibrox should set alarm bells ringing. Sour grapes or valid criticism? Well despite League One being done and dusted early doors, Telfer only featured once, coming on as a substitute in the 4-0 defeat of Stenhousemuir. Was completing a season undefeated in a lower league really more important than the continual development of our youngsters? Alarmingly, the Telfer story is not an isolated one. Last year, centre half Stuart Urquhart, a captain of the Scotland Under 17 side, having held his own at Dumbarton whilst on loan (2 divisions above Rangers at the time) chose to depart the club despite not having any clear destination. His subsequent snapping up by Steven Pressley at Coventry City, himself a product of the Rangers youth system, adds a touch of irony to a fast developing farce. That orchestra of irony reached a crescendo this week with the departure of Lewis Macleod, one of our few “blooded youngsters,” in order to keep our club afloat. Those of us at Ibrox yesterday, watching the toiling of Lee McCulloch, were left to wonder if a nurtured and blooded Gasparotto, may well have spared some of the raised blood pressure caused by the inadequacy of our failing captain. The same could be said of Sinnamon as an alternative to Foster or McKay instead of Smith. In an age of “gardening leave” it’s clear our club is in dire need of a bold, green fingered horticulturist with a proven aptitude for the development of young seedlings.
  16. Dave King bought a massive chunk of Rangers last night and then told supporters of the long suffering Glasgow giants: I told you I wouldn’t let you down. South-Africa based tycoon King has snapped up a near 15 per cent stake in Gers, after spending £2.5million to purchase the shares held by Artemis and Miton. And King revealed: “Despite being rebuffed by the current board I have never given up and will continue to pursue the commitment I made to the Rangers fans. I said before that I am not going away and this shows I am not.” Castlemilk-born King’s powerplay comes less than a week after George Letham’s Three Bears consortium bought Laxey Partner’s 16 per cent holding. Factor in the ten per cent held by Gers fans — as well as the two per cent owned by previous bosses Walter Smith and Ally McCoist — and the group as whole now command a 45.8 per cent shareholding in Rangers. Both moves are understood to have caught the current Ibrox regime cold. Insiders believe it could spell the beginning of the end for a board of directors so despised by Gers fans, with thousands of supporters boycotting home matches to show their anger. King added: “The current board will never be accepted by the fans.” Johannesburg-based King now plans to return to Glasgow in the coming weeks when the stakeholders could call for an EGM at Ibrox. King said: “I am considering my next steps and must consult with all stakeholders. “I will be back in Scotland in a few weeks for meetings.” It’s believed Laxey, Artemis and Miton made their decision to bail out amid concerns over Rangers’ chairman David Somers conduct at last month’s explosive AGM. The Ibrox share price has been in freefall for months with King snapping up his shares for just 20p yesterday. Asked if he felt under-fire Somers should go, King said: “He should remove himself.” After three years of turmoil, King believes his purchase, coupled with the earlier move by the Three Bears, could prove hugely significant as the businessmen look to rebuild the Light Blues. King added: “I am, once again, hopeful about the future of Rangers. I have never given up and will continue to pursue the commitment I made to the Rangers fans. As I said before.” http://www.cfclatest.com/2012/01/03/king-tells-fans-i-said-id-be-back/
  17. That McCoist will be given his job back as manager? The thought of it fills me with dread
  18. The last few years have been a miserable experience. Truly depressing. Both on the park and off it. Today over 30% of the club is now owned by Rangers men. As such I feel we are saved and this really is a momentous day. Instead of having cantankerous leeches running us who treat us with utter contempt, we now have honourable bears running the club who will bring us back to where we belong. I said recently that competency was all I wanted in the board room. To have competency and Rangers fans controlling us is all the better. What has been most disparaging for me has been the rather disgusting and ignorant attitudes displayed by many of our fans. There are certain people being paid by the board to cause trouble, yet we have seen entire online communities buying into it out of their own free will. It has really been absolutely bizarre. It reminds me of Doublethink in George Orwell's 1984. We as a fan base have been persecuted but a repulsive element of our support has been exposed. I will not forget any of this but I'm just delighted my club has been resurrected. So farewell the Easdales, Llambias, Somers and all the rest of you rancid, repugnant individuals. We are Rangers, super Rangers.
  19. I am seeing a rumour that Dave King has purchased Artemis shares "Dave King has purchased just under 12 million shares from Artemis. Equates to 14.57% of club."
  20. Guest

    Reds Fan In Peace

    Hi to all Rangers fans and a happy new year! Well. I've woken up today to find that we've signed one of your lads, Lewis McCloud and I think I'm delighted. But I know little about him and so wondered if you could give us a few pointers on what to expect? I understand he plays midfield which is a little strange as that is one area I would say we don't need to strengthen. I'm guessing we've bought him as cover with a view to developing him for the future. But if called upon, is he ready for the Championship in your opinion? I've read that a couple of lower league clubs (namely Shrewsbury Town and Leyton Orient) were in for him but were put off by the asking price (reported here as around £400k). Interested to hear your views on Lewis. Brentford is a progressive club and a good place for up and coming players so it seems a shrewd move by McCloud, the Reds seem to have signed a promising young player for the future and Rangers have a few bob in the bank so hopefully this will prove to be a good move for all concerned. Good luck for the rest of the season!
  21. KENNY McDOWALL fears Lewis Macleod’s departure to Brentford could trigger the start of an Ibrox transfer-window exodus. The caretaker Rangers boss lost his prize asset yesterday when the young midfielder signed a three-and-a-half-year deal with the Championship outfit. But with an entire team of players out of contract in the summer and free to speak with interested parties from today, McDowall is worried his promotion push will be undermined by further sales. The Ibrox interim manager, who had no say in Macleod’s £1million move south, was gutted to lose him. When asked if he feels the 20-year-old is much better than Brentford, McDowall said: “I absolutely think so – but that’ll be down to Lewis, whether or not he fulfils his potential. “He has a lot of experience for a young lad and that will stand him in good stead. “I was told he was going for a medical, that was as much as I heard. That’s the beauty of the window. It’s the month from hell. “It’s generally not a good window with most teams wanting to keep their best players. Unfortunately we are not capable and are not being allowed to. “I will just have to wait and see what else happens. It’s outwith my control.” Lee McCulloch, Steve Simonsen, Kenny Miller, Kris Boyd, Kyle Hutton, Richard Foster, Lee Robinson, Stevie Smith, Bilel Mohsni, Ian Black and Jon Daly are all out of contract in June. And McDowall will seek urgent talks with chief executive Derek Llambias and football board chairman Sandy Easdale to address the situation. He said: “I’ll need to have meetings pretty sharp with Derek and Sandy. They’re free to speak with people so we’ll need to address that.” Given the uncertainty, kids Callum Gallagher, Craig Halkett, Tom Walsh Robbie Crawford and Kyle McAusland have all been brought back to Gers from their loan spells. Subject to international clearance, Macleod will become a Brentford player when the window officially opens on January 3 but will not be eligible for the FA Cup clash with Brighton. Bees boss Mark Warburton said: “I’m delighted to have secured such a young talent as Lewis. He’s had an outstanding season and will be an excellent addition.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boss-kenny-mcdowall-lewis-4900649?
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