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September 6, 2014 / billmcmurdo The Ibrox boardroom wars are still rumbling on, with the board doing more damage to themselves than the rebels can inflict. I am dubious of the so-called latest revelations – that Sports Direct magnate Mike Ashley was sold the naming tights to Ibrox for the price of 8 AAA Sony batteries. My feeling is this is an attempt to get the directors to release the real figure but if it turns out to be true, it is a massive hit against the beleaguered board. If the deal was made based on projections of Sports Direct selling boatloads of RFC merchandise, then it was still a poor one. The ball is now in the board’s court to reveal the true price of re-branding Ibrox. I have always backed the present regime but it is increasingly hard to muster confidence in their ability to steer the club through this difficult year. It doesn’t help that the board is hopelessly split, with CEO Graham Wallace having been “Matherised” i.e. converted to the rebel cause. Truth be told, Wallace has failed to provide the leadership and bring stability to matters behind the red brick facade on Edmiston Drive. The grand plan of the Fans Board has not galvanised the fan base but has been a monumental waste of time, effort, money and energy. Wallace’s alignment with those who have choked the sale of season tickets so necessary for the club to progress is a cave-in of epic scale. That said, the board’s feeble response to this has not helped engender confidence. I championed another contender for the post of CEO but was more than happy to support Graham Wallace when he took the reins. Now it is all a cod and the vultures are circling, ready to swoop in for the kill. It looks like the next phase of the Ibrox Civil War will be a head-to-head between Mike Ashley and Dave King. Question marks arise over the ability of either to invest substantially – both may be curtailed by football rules and in King’s case, he could be blocked by regulation here and in South Africa. Ashley will no doubt be turned into the antichrist by a Rangers-hating media here in Scotland. There is a consortium of people who are desperate to get hold of Rangers and if they cannot get control of the club on their terms, then they would rather see the club go under. King is their champion and this means he is their weakness. You get the feeling that when and if he is ever asked to actually pony up the money, he will not produce. Should the consortium prevail, with or without Daddy King’s involvement, Rangers will probably never be as dominant as they were at the peak of the SDM years but they will challenge Celtic for the Premiership. Success in Europe will be a pipe dream. Ashley and others are Rangers’ best bet of going to a higher level. Their vision and collective financial clout exceeds by far the grasp of the consortium. It is all about a clash of ideologies and visions. The problem for this board and investors like Mike Ashley is that they are trying to fight a battle based on AIM regulations against people who are not bound by these. The battle for Rangers is a street fight, a rammy, not a game of bridge in a gentlemens’ club. It’s time the board at Ibrox realised this. “Ground on which we can only be saved from destruction by fighting without delay, is deadly ground.” SUN TZU
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Mike Ashley to up his stake in Rangers to 9.9% through the current share issue. Source SSN” Sources close to Mike Ashley say there are no immediate plans to invoke the naming rights at Ibrox stadium #Rangers @charlesp_sky: It's understood Ashley views his interests in Rangers as purely strong commercial ones which he intends to protect
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Regarding Mike Ashley, the question of dual club ownership and the rumoured '10% rule', for anyone interested in reading the exact rules in the current 2014/15 SFA Handbook (Articles of Association/rules & regulations) just have a quick read of Article number 13. titled "Dual interests in clubs" which starts on page 90 of the Handbook PDF document. http://www.scottishfa.co.uk/resources/documents/SFAPublications/ScottishFAPublications2014-15/Handbook%202014-15..pdf
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.......to save Ibrox as new cash crisis rocks Gers. RANGERS fan groups fear the club will not be able to pay next month's wage bill after court ruling while legend Andy Goram feels it may be too late to save Ibrox. FORMER Rangers director Imran Ahmad has succeeded in his bid to have £620,000 frozen in the club’s bank account. Lawyers for Ahmad claim he is owed a £500,000 bonus for the time he spent working as commercial director at Ibrox. They went to the Court of Session because they fear Gers are about to become insolvent. Ahmad is set to take his former employers to court later this year and is concerned that if he were to win his action, Rangers would be too poor to pay him. His legal team had failed on two previous occasions to obtain the order. But yesterday, after hearing claims that Rangers were becoming the “envy of English Premiership sides” for their financial position, Lord Stewart ruled there was still a “risk” of insolvency. He said: “I have formed the view that there is a risk of Rangers becoming insolvent. “That is not to say there is an actuality or a certainty insolvency is something that will happen. At this stage, it is only a risk.” Fans groups now fear Gers won’t be able to pay wages this month. Rangers have £1.2million in their account but the wage bill for playing and non-playing staff is thought to be close to £1m a month. Salaries are normally paid on the last Thursday of every month so they will be due on September 25. The club’s recently announced share issue takes place a week earlier and the beleaguered board are hoping to claw enough cash together from that to limp on. However, Chris Graham of the Union of Fans said: “This puts the club in a really difficult position. “With just £1.2m in the bank at the moment this will make it difficult to pay the next wage bill.” Graham also hit out at director Sandy Easdale and said: “Many fans will be wondering what on earth Sandy Easdale was doing speaking to the media just days before this case and outlining how dire the funding position at the club is. “Surely he should have realised that his comments were going to weaken our chances of getting a positive outcome from this case.” Another fan, Craig Smith, tweeted his 16-month old daughter “could have run Rangers’ finances better”. But the club last night claimed they were confident they would still be able to “operate as normal”. Rangers have sought leave to appeal and the court will deal with that request on Tuesday. A club statement said: “We agree with Judge Lord Stewart when he told the court: ‘This does not mean to say that insolvency is an actuality or is going to happen.’ “We remain confident that the club will be able to continue to operate as normal.” That came after Alan Summers QC told the court Rangers’ financial situation was improving. He said: “When we were last here, we heard how the share issue would only keep the lights on at Ibrox. “I can tell you the floodlights are back on at Ibrox and are in no danger of being switched off. “Talks are at an advanced stage with two potential investors. The club has not been in rude health for some time. But the situation is improving. The club is trading its way out of difficulties. Its current position is the envy of many English Premiership clubs.” However, Ahmad’s advocate Kenny McBrearty told the court there was no proof the share issue could keep the club solvent and insisted there was no guarantee investors would come forward. He said: “A pattern of diminishing working capital is evident. There is nothing concrete that there is a saviour for Rangers.” Many fans view Dave King as that potential saviour after the South Africa-based businessman promised to pump £30m into Rangers if the board were removed from office. He also set up a trust fund with fans’ groups so punters could commit their money to the club without handing it over to those in charge at Ibrox. But Rangers legend Andy Goram believes time is running out for King to stop the club from tumbling into administration again. The former keeper said: “I would like to see King doing what he has been promising to do for a while. “King threw a grenade in at the start of the season and stepped back. The longer he leaves it, the worse it’s going to get. “The fans had three choices this summer. You either paid season ticket money, went game to game or gave your money to King. “Now it needs something pretty quick. I see Jim McColl has saved the shipyard on the Clyde. “People like that, Rangers fans like that, I think the club is still important to them. “We don’t want to see it go down the tubes again. Administration again would be ridiculous. “If King’s timing is not right, if people don’t get the timing right with the investment, it could be too late. It’s getting pretty close.” Yesterday’s court ruling came after Record Sport revealed Mike Ashley’s Sports Direct firm had acquired the naming rights to Ibrox for just £1 – a move which has sparked fury among the fans. The Newcastle supremo is one of the biggest individual shareholders at Rangers and has also taken full control of the club’s retail stores. Those deals were struck during Charles Green’s time at Ibrox and Goram believes it would have been better for Rangers if someone like Fergus McCann had taken over after the first financial crisis. The canny Canadian helped rebuild rivals Celtic two decades ago by watching every penny. And Goram said: “Rangers needed someone like McCann to sort it out from the beginning. “The deals Ashley has done all happened when Charles Green was in charge.” http://www.dailyrecord.co.uk/sport/football/rangers-brink-new-cash-crisis-4173651
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DR publishing interview with Sandy Easdale tomorrow.....and also running a headline that the naming rights of Ibrox being sold for £1!! Rumours are that the naming rights are given for £1 plus underwriting the share issue. Not 100% sure though. Looks like more grim news on the way bears....buckle up!! -
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=12066370
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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.
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http://www.bbc.co.uk/sport/0/football/22037966 Hopefully this will herald a bigger sportlight on the shady goings on in the east of the city by CFC, GCC et all... -
Born Under a Union Flag: Rangers, Britain and Scottish Independence (Luath Press) will be an interesting read for those yet to open its cover, and I would strongly suggest you do. It allows the reader access at times, to the mindset of the authors of the various chapters, some of which will challenge you, some may even alarm you, but having drawn me in, it was one of those books I had to read from start to finish without interruption. It may seem strange for an avid Unionist to highlight a chapter written by a pro-independence author, Gail Richardson, but I do so for 2 reasons : (1) Gail asks questions relating to the motto of a group of which I am a member – Vanguard Bears (2) Of all the pro-independence chapters within the book, Gail’s was unique in that it offered a cohesive, rational and positive argument for independence which was free from negative subjective experience often cited by her peers, nor did it seek to demonise Britain as a justification for exercising a yes vote, in short it offered vision rather than vilification. I use the word “demonise” deliberately. When Alan Bissett argues that Britain is responsible for, amongst other things, “the mass slaughter of World War 1” you can perhaps begin to understand why I suggested in the opening paragraph that you may be challenged, even alarmed by its contents. Gail opens her chapter with a question : Do the Loving Cup ceremony or the portraits of Her Majesty the Queen hanging in the home dressing room at Ibrox not qualify as traditions ? Both are long standing practices at our club, with club historian David Mason, opening this year’s Loving Cup toast describing it as “A very important tradition in the history of Rangers Football Club since 1937”. Furthermore are they merely traditions or, additionally, a powerful statement of identity i.e. this is a club which values the traditions of monarchy ? The foregoing example serves as welcome introduction for another area of such debate which is often overlooked by many. Gail asserts : It is madness. But what about the flip side of that coin ? What about the instances where the beliefs and values come from within the club itself ? Are they in themselves not statements of identity ? If the historical commentators such as Graham Walker and Bill Murray are to be believed, and there is no good reason not to, then Protestant identity evolved due to a number of factors, primarily though that the Protestant indigenous Scot sought a football club which reflected their faith and culture in the same way that the newly formed club, Celtic, reflected the faith and culture of the Irish immigrant population. If Gail is guilty of overlooking symbolisms and traditions which emanate from within the club, perhaps because they don’t quite fit with her assertions and beliefs, I confess, I could be equally as guilty of reading something into symbolisms from within the club because they do happen to fit with my particular assertions and beliefs. I have difficulty accepting however that Church and Boys Brigade Parades, the holding of the Orange Order Annual Divine Service at Ibrox, our refusal to play football on the Sabbath, the welcoming of Kings at Ibrox, Armed Forces Days, amongst other things, are not statements of identity. Furthermore these take no account of the erroneous, which again have their formation from within the club itself. Gail makes reference to Rangers signing policy, I would add to that the comments of Rangers vice chairman Matt Taylor in 1967 when he stated in interview relating to it, “part of our tradition....we were formed in 1873 as a Protestant boys club. To change now would lose us considerable support.” However mis-guided, however ham-fisted, however opposed to true Protestant ideals and values the foregoing examples are, I would suggest they are a clear attempt to attach a Protestant identity to our club from within the club itself. I cite these examples not to usurp Gail’s questioning of their relevance today in an increasingly secular Scotland, but to demonstrate that the club itself over the years has actively encouraged an identity with which it is often associated, therefore to suggest that it’s our supporters who have projected their beliefs onto the club and asked them to uphold them is incorrect. When Gail states : “I’ve said that I don’t believe Rangers Football Club is a Protestant club or a Unionist club.” how does such a statement equate to a football club who have just released their 3rd strip which has as its centrepiece, the flag of the Union itself ? Particularly in view of the current political climate in Scotland. Strangely, the answer to Gail’s original question comes from an unlikely source, in chapter 3 of the book. Harry Reid, an Aberdeen supporter speaking of the demise of Rangers identity under Sir David Murray: And later in the chapter : Harry continues: Later in the chapter Harry emphasises the importance of any football club seeking to expand its aspirations, remaining true to its core fan base. There is really not a lot I can add to Harry’s quotes. The values, traditions and people Harry alludes to are very much at the core of what we at Vanguard Bears, seek to defend. I hope this article not only answers Gail’s questions, but also challenges her to examine her own vision of our club, as much as her chapter from the book caused me to examine my own.
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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
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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?"
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The rumour is that Brighton are in for Wallace and are close to matching our valuation.
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Gonna charge up the phone. Have a feeling there might be some Rangers breaking news to come tonight as well! https://twitter.com/tedermeatballs
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Side splitting stuff,,,,, ......and back on the payroll!
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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...
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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
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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
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Letter sent to Rangers CEO Graham Wallace As we previously communicated with you, we contacted Graham Wallace in June requesting whether he still agreed over the "importance for clubs with ambition to own their own stadium and training centre". Sadly, we received no response so this week we have sent further correspondence to Mr Wallace. This is as follows: Dear Mr Wallace, Season Ticket Sales and the Future of Auchenhowie We note we have yet to receive a response to our email of 10/06/14 (copied below), and again write to express our concerns in regards to the above. Season ticket sales appear to be very disappointing, which is astonishing given that this season could see us return to the top flight, and will involve some potentially excellent matches against Hibs and Hearts, in what will generally be a much more competitive league. This is surely a reflection on how the fans view the performance of the board, and in particular, a reflection on some very real concerns fans have over the future of Ibrox and our training ground at Auchenhowie. We note the recent statement by the board as regards Ibrox, however, rumours continue to persist that the board are in the process of using Auchenhowie to raise funds in some way to bridge the gap left by the very disappointing level of season ticket renewals. As you are no doubt aware, the training complex is viewed as a symbol of the future by Rangers fans, and disposing of this asset in any way is likely to be counterproductive as it would lead to further disillusionment and detachment of the fans - who, it should be remembered, contributed significantly to the cost of the facility. We would therefore urge you to end this downward spiral and clarify how the board plan to address the apparent lack of confidence which the fans appear to have in them, and thus, hopefully, increase the level of season ticket renewals. We would hope an increase in season ticket uptake to a more realistic level would obviate the need for the board to resort to disposing of vital assets. We note that the first responsibility of the board is to the company and not to any individual or group of shareholders. With this in mind, you will recall the board's recent attempt to raise short term funding via a major shareholder, and that The RST was able to assist in procuring a significantly more beneficial deal for the company. Can you therefore confirm that we will be afforded a similar opportunity to obtain a better deal for the company should the board fail to raise season ticket sales and have to resort to using Auchenhowie to raise finance? We hope you will understand our concerns and the urgent need for a response. We will update members with any response we received.
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"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."
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From club website today. THE Board of Rangers Football Club ('the Club') has been asked in the past several weeks to confirm once again that the Club will not grant security over Ibrox to any organisation during the upcoming football season. The Board is happy to reaffirm its position, which has never been a matter of debate, by confirming once again that it will not enter into any form of sale, securitisation or leaseback of Ibrox Stadium. This has been and still remains the Board’s clear and consistent position on this subject as it continues to protect and enhance the assets of the Club. The Board of Rangers Football Club is committed to protecting the assets of the Club for the benefit of all Rangers fans, and to adhering to the highest standards of corporate governance. Season Ticket sales are continuing throughout the next few weeks ahead of the start of the season and we are grateful to the thousands of supporters who have already bought for the 2014/15 campaign. Events over the past few weeks have reminded everybody of the remarkably testing period our incredible supporters have been through in recent years and now is the time for us all to look forwards, together.
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He lost the vote but I'm surprised that seems to have been the end of it? I don't think much of him but it seems odd he has gone completely quiet. Am I missing something?
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THE IMPORTANCE OF SAFEGUARDING IBROX 23rd July 2014 Some have asked why we have such a desire to safeguard Ibrox and claim it's ok for a club to borrow money against it's stadium and to be fair in normal operating conditions this may be the case. Unfortunately our club does not operate within normal operating conditions. To understand the full importance of our position it is important to be aware of the full financial position our club currently operates. Our club does not have enough cash flow to see out the full season that is soon to start. Some predict a shortfall of circa £8m just to allow the club to stay afloat. Due to many issues, last years season ticket holders numbered approx 34,000 and by the end of the renewal date only 50% of these had renewed their seats. It is fair to assume that some new ST will be sold to new ST holders and some old ones may still renew but regardless, the season ticket sales will be significantly lower than last year and after a promotion, one would have expected to see a rise in sales. The much touted share issue that the board would have us believe would be fully supported by institutional investors simply will not be as successful as they publicly admit and sources close to us claim that even the board now feel the money raised will be much lower than they first presumed. The reason for this is simple, they are asking investors to invest more money but this money will not be used to make the club better and worth more it will simply be used to shore up shortfalls in cash flow (remember we were advised by Mr Wallace at the AGM that we had no short to medium term cash shortfalls) If this share issue was to raise funds for assets or player purchases etc then there is a good case for investors to invest more as the business would normally rise in value and they would see an increase in their investment. Our directors expect to go cap in hand and ask investors to give them more money just to stay afloat and this is only 7 months after telling these very same investors that we had no short to medium term cash worries. Would you give it if you had no emotional attachment to the club? I didn't think so. ST sales are well below target and the promised windfall from a share issue looks like just a pipe dream so where does that leave us as a club? Simple, fresh investment is required and is available and not only from Dave King. So why won't the board accept outside investment? I believe this is the reason or at least one of the reasons that our board room is starting to split. Anyone willing to invest at the levels required would rightly ask for a say in the boardroom and here lies the problem. Our faceless investors and hedge fund simply don't want this and although between them they own less then a third of the business, they want to control the full boardroom and don't want to dilute their power. The faceless and the hedge fund are therefore starving our club. We find ourselves a club in a catch 22. We need cash but those willing to give it won't be allowed as the faceless and hedge fund won't agree to them. That takes us back to the main point, Ibrox. If the club were to use Ibrox to raise money then two options are available 1) Sell stadium then lease back or 2) use Ibrox as security in a loan. If we do a sale and lease back agreement then our club will be paying out money over a long period of time just because this current board are way out on their own cash assessments and if we borrow against Ibrox and our club was to once again lurch in to admin then we would lose our stadium to the lender. Neither is acceptable to me as a fan. So what's the alternatives? 1) Mr Easdale can magic the investment he promised on national TV prior to the AGM (has there ever been a public excuse of what happened to this promised investment?) 2) Mr Wallace can find the £5m he told the UoF at a meeting six weeks ago was available "at the click of a button" 3) Mr Crighton can do something he's been paid to do since pre AGM and that is attract investment as when he was introduced to us he was to chair an investment committee with that very aim (what investment have we attracted since he came?) 4) Talk to those willing to invest in the club and compromise with them. It's not a bad word. 5) Stop mucking about with the fans and show a bit of humility. Tell the fans you are listening to them, tell the fans their actions have been noted and tell them you WILL NOT sell or borrow against our stadium instead of hiding behind cute statements with obtuse phrases. But for the sake of the future of our club DO SOMETHING. If you are incapable of finding an alternative then move aside and let others on board that aren't selected by the 30% of investors who are holding our club back or welcome some on board who can bring the faith of the fans and investment with them. Why are Blue pitch, Margareta and Laxey so against others being represented on our board? This will be discussed in the near future Why does this statement not ask about Auchenhowie? Simple, there's no point in asking for something you can't get and our belief for sometime has been that our training ground will go soon as negotiations have been ongoing for some time. It's time for change, either change how our board conduct themselves or change who selects and drives our board members. The alternative isn't worth considering. http://www.sonsofstruth.co.uk/blog.html
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1300 words on a situation that is becoming more worrying and difficult to justify with every day that passes... http://www.gersnet.co.uk/index.php/latest-news/260-ally-mccoist-and-rangers-time-for-some-home-truths
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BRIAN LAUDRUP today appealed to Rangers chiefs to patch up their differences with supporters - and work together to restore the Ibrox club to its former glory. Laudrup revealed he had been saddened to see the Glasgow giants continue to be plagued by off-field problems since dropping down to the fourth tier of Scottish football. The legendary winger had hoped the Light Blues would go from strength to strength after they emerged from their financial difficulties two years ago. However, unhappiness with a succession of directors and executives has steadily escalated as tens of millions of pounds of income has been squandered. Matters came to a head this summer when many fans decided not to renew their season tickets - until they received assurances over the future of the stadium and training ground. The bitter stand-off has resulted in vastly reduced numbers of supporters signing up to watch Ally McCoist's side in action at home in the SPFL Championship in the 2014/15 campaign. The club has now admitted that additional funding will have to be found to meet running costs in the coming season and another share issue will be held for existing shareholders later in the year. And at the weekend around 3,000 disgruntled fans marched on Ibrox in a rally organised by the Sons of Struth protest group to demand guarantees over the stadium. Laudrup still takes a keen interest in the fortunes of the Glasgow club, where he spent four years during a glorious spell in the 1990s, from his homeland in Denmark. He stressed he would like to see senior Rangers officials to do everything in their power to mend their fractured relationship with a sizeable section of their followers. Because he feels they need to work as one if the 54-times Scottish champions are to become a dominant force again in football in this country AND get back into European competition. His appeal came as Rangers announced they had set up a nominations committee whose job will be to draw up a shortlist of supporters to be elected to an official fans' board. He said: "I just hope Rangers supporters can look forward to watching the club playing at the level they deserve to be at in the top flight and in Europe once again soon. "I hope they will be back where they once were soon. That is what the supporters deserve. They love the club so much. I am keeping my fingers crossed that that is what is going to happen. "But I know there have been more setbacks along the way. I have read online there are still problems off the park and there are still issues between the club and the supporters. "I hope that these can be sorted out soon. The club need to have the supporters behind them if they are to get Rangers back to the level they should be playing at in Scotland and in Europe. "I think whatever concerns the fans have about the club and the direction it is heading in need to be looked at because Rangers need to have them firmly behind them." http://www.eveningtimes.co.uk/rangers/rangers-legend-laudrup-in-plea-to-ibrox-board-172466n.24818886
