Search the Community
Showing results for tags 'funding'.
-
Become a member Sons of Struth was formed out of frustration that we felt no one spoke for us and we wanted a voice. We certainly found one. If it was not for the thousands that joined our protests then our voice would not have been heard. We now want to give those who helped us be heard a platform and to be involved in shaping the future of SoS As a member of SoS you will receive updates on future activities be invited to put forward ideas for future activities be polled on concerns we may have for our club and on future activities have access to a members only forum have a say in the future of the group be part of the most active group of fans in the last 12 months Membership is FREE http://www.sonsofstruth.co.uk/join-sos.html
-
How long do we wait after the 120 days ???? review? http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boss-ally-mccoist-admits-3813756 McCOIST is seeking clarity on what the operations officer role would entail and whether he'll be allowed to appoint someone else to head up the club's scouting network. ALLY McCOIST has admitted he’s in the dark over Christian Nerlinger being lined up as chief football operations officer at Rangers. And the Ibrox boss wants clarity on what that new role would entail as he still doesn’t know if he can bring in someone else to head up the club’s scouting network. Chief executive Graham Wallace claimed an operations officer was needed in his 120-day business review back in April. And former Gers midfielder Nerlinger is said to be on the radar, having held a similar position at European giants Bayern Munich. But when asked about Nerlinger, McCoist said: “I haven’t heard anything regarding that. I spoke with Graham on Wednesday and nothing has been said about Nerlinger or any director of football so I don’t know anything about it. “I would expect to know something but it has gone quiet. I don’t know what has happened. My priority is to win the league but in terms of infrastructure we desperately need a chief scout. In an ideal world Graham and I would sit down but I don’t know what the plans are with the chief football officer. “I don’t know whether that would be his department in terms of scouting. “Do I have someone in mind? Absolutely. But let’s be honest – there is a financial aspect as well. “We need somebody to scout talent. Whether that is the chief football officer’s gig or the chief scout’s gig is up for debate. But if we want to get back to a top standard in Scotland and hopefully get back into European football we need to have people assessing players.” McCoist has snapped up Darren McGregor, Kris Boyd and Kenny Miller so far this summer. But he also wants to land former Hearts stopper Marius Zaliukas and Cardiff midfielder Don Cowie. The Ibrox boss said: “Marius has trained with us after being released by Leeds and we are going to have a chat. I think there’s still a few quid knocking about in that budget and that will be put to the test in the next week or so.” All of Rangers’ summer targets are tried and tested in the Scottish top flight and McCoist claims in the absence of a proper scouting department he is left with no option but to go for players he knows well. He pointed to Sporting Lisbon’s capture of Dundee United kid Ryan Gauld as an example of clubs casting their net wide and admitted Rangers are “light years” away from being able to work like that. He said: “Ian Durrant, Kenny McDowall and myself watch French football, Dutch football, absolutely everything on TV. But we can’t go to watch players unless they are in Scotland because of the situation the club is in. “That is the beauty of having a scouting department. If you have scouts they can go and watch games, they can recommend players and then you can go and look at them. “At this moment you are actually just watching games off videos. It is not ideal. “I met Peter Houston about four weeks ago (when he was scouting for Celtic) at the airport and said: ‘Where have you been?’ He said: ‘Watching six games.’ “Our best opportunity is to watch on the telly. If you have a chief scout and a department, you have the potential to do a Sporting Lisbon. “You can get a boy at 18, 19 and say: ‘Right, it looks like we are not going to play you for 18 months but we are going to develop you’. “That is the ideal world. We are light years away from that.” -
“If ever fans required a reminder of the reasons for our campaign to secure our club’s home, it is the recent £200k windfall received by disgraced former finance director Brian Stockbridge, who in the past couple of days has been handed shares worth approximately £215,000 for which he has paid just over £7,000. It is the current board’s position that Brian Stockbridge was contractually entitled to these shares and it was therefore outwith their control. We reject this entirely. Mr Stockbridge could and should have been sacked for any number of employment related issues including his abysmally inaccurate financial projections, financial mismanagement of tens of millions of pounds of fans’ and investors’ money and several misleading statements to fans and shareholders. That this board allowed a compromise agreement to be signed, on termination of Mr Stockbridge’s contract, which allowed Mr Stockbridge a further £200k windfall is an absolute disgrace. His share option entitlement and any other financial benefit which Mr Stockbridge was due should have been removed as part of his contract termination. Mr Stockbridge has already received considerably more than he merited from our football club as have several others with whom he is closely associated. Did Mr Stockbridge’s close relationship with the Easdale brothers, who hold undue influence over boardroom matters, smooth his path to this further windfall? Furthermore, we believe that David Somers misled shareholders at the AGM on the subject of Mr Stockbridge’s share options. When a question was asked on this topic, the clear inference from Mr Somers was that this would not be an issue due to the option price of 70p, which at that time was almost twice the market value of the shares. Mr Somers clearly gave the impression that the option would not be taken due to the drop in share value. At no point did either Mr Stockbridge or Mr Somers make it clear that this option could be exercised for 1p a share – a crucial and highly misleading omission. Charles Green had a similar clause in his contract which entitled him to 1,028,571 shares. Can the board confirm whether this option was also allowed to remain following Mr Green’s contract termination? If so, can we expect a further windfall in the near future for Mr Green on top of the small fortune he has already bled from the club? Finally, despite repeated attempts to engage with Graham Wallace and the board over the issue of a binding legal commitment not to sell or lease back Ibrox or Murray Park, we have been unable to come to any agreement. It seems the board are happy to continue to alienate the thousands of fans who have supported our efforts through the Ibrox 1972 fund. As a result of this refusal from the board to give fans any legal undertaking over the club’s most prized assets, we are left with no option but to release all those who have supported the fund from their binding financial commitment. This will be confirmed to them over the coming weeks. We urge fans not to give their money to this regime in a lump sum payment via season tickets and to support the team on a game by game basis. The team deserve our loyalty, this regime, with its stranglehold on our club, deserves nothing but our contempt. Quite simply, they cannot be trusted and supporters simply do not know where their hard earned money is going to end up if they pass it over blindly."
-
RANGERS have experienced a flurry of late season ticket sales since striker Kris Boyd made his emotional return to Ibrox last week. Boyd ended weeks of speculation when he signed a one-year deal with the SPFL League One champions - and is set to team up again with Kenny Miller. And his capture has since led to a surge in Light Blue supporters signing up to watch Ally McCoist's side in the 2014/15 season. The ticket office at Ibrox at the weekend was queued out of the door for long spells as fans snapped up season books for the new campaign. Lifelong fan Alan Anderson, from Cambuslang, was taken aback at the level of interest when he renewed his ticket at Ibrox on Saturday. He told SportTimes: "I was told the season ticket office was going to be open until after two o'clock and popped down half an hour before it shut. "But when I got there there were a lot of cars in the car park and people were queueing out of the door. "There was a great atmosphere among the supporters who were waiting to buy tickets. "I think most of them were, like me, buying season tickets because Kris Boyd has signed. "But people were genuinely excited about the season ahead and the prospect of playing teams like Hearts and Hibs. "I wasn't going to renew my season ticket, but I decided to do so when I saw that Boyd had signed. "I think a lot of people were the same as me. "I don't necessarily like who is in charge at Rangers at the moment, but I am, as the slogan goes, prepared to support the team and not the regime." Rangers announced to the Stock Exchange a fortnight ago that "approximately 17,000" season tickets had been bought by fans this summer. That is in stark contrast to the 34,000 supporters who made the Gers one of the best backed clubs in Britain for the second stage of "The Journey". The Union of Fans - an umbrella group comprising six supporters organisations - has been urging fans not to renew their season tickets. The UoF and former director Dave King set up Ibrox 1972 Ltd in the close season and urged supporters to pledge their money to it instead. They want Rangers to give them security over the stadium and the training ground at Auchenhowie in return for the cash. http://www.eveningtimes.co.uk/rangers/rangers-revel-in-boyd-ticket-bounty-169185n.24618366
-
All over twitter this evening.
-
http://www.bbc.co.uk/sport/0/football/27934760
-
http://www.gersnet.co.uk/index.php/latest-news/250-dave-king-the-grand-old-duke-of-york
-
We know that season ticket sales are slow/low, and this is for a variety of reason. One of them being Dave King's "trust". Does anyone know what sort of numbers are involved with the trust now??? Is it a significant number, or has it turned out to be a bit of a damp squib???
-
The BBC has learned former Rangers chief executive Charles Green is seeking financial support to launch a new bid for control of the Ibrox club. Green led a consortium which bought Rangers' assets in May 2012 and then raised £22m from a share issue, but resigned from his post last year. He returned for a short-lived spell as a consultant before selling his shareholding in the club. However, he has spent the last week in talks with potential investors. Rangers plan to launch a new share issue in a bid to raise in the region of £8m and if Green is to be successful he would need to convince existing shareholders to sell to a new consortium. Green, who held the same position at Sheffield United, stood down from the chief executive's position citing the "negative publicity" surrounding an independent investigation, commissioned by the club's board, into allegations of undeclared dealings with former owner Craig Whyte. That investigation consequently found no evidence of Whyte's claims that he was involved in the Green-led acquisition of Rangers two years ago. On selling his shares to Sandy Easdale, chairman of Rangers' football board, Green said: "I want to make it clear that this means I will have no ongoing influence or financial interest at the club but I remain a fan and fervently hope that Rangers will soon be back at the top where they belong."
-
Rangers' beleaguered directors face the possibility that the club auditor, Deloitte, could sever its connection with the club over the next few weeks, following a collapse in the number of season tickets sold. The Daily Telegraph understands that the international corporate finance and accountancy specialists are unhappy about the latest figures emerging from Ibrox, which show that season ticket sales for Rangers’ Scottish Championship campaign are running at half the level of last year’s take-up for their SPFL League One schedule. In a statement on the Rangers website on Friday, the board confirmed that only 17,000 season tickets have been sold. On March 27, when Deloitte signed off the half year accounts up to the end of 2013 – which showed a £3.5 million loss – the auditors added that “key assumptions” made by the directors included a reckoning of future season ticket sales. Deloitte noted that this indicated the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern. Despite assurances at the annual general meeting in December from the chief executive, Graham Wallace, that the club could meet its costs until the end of the season, the board subsequently borrowed £1.5 million from shareholder George Letham on the assurance that the sum would be repaid when season ticket sales had yielded the equivalent amount. *However, there has been no notification to the Stock Exchange of any repayment. Instead, leaked reports from a spin doctor formerly employed by the club, confirmed that the board would attempt to raise £8 million through a rights issue later this year. In a statement on the club website on Friday, the Rangers directors said of the latest season ticket sales total – and the likelihood of a share issue – that “The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. “The Board continues to evaluate its plans in this regard and will update the market in due course.” However, should Deloitte dissociate themselves from Rangers, investor confidence is likely to diminish. Deloitte last night would not comment on any speculation, citing client confidentiality. In response to the club statement, the supporters’ umbrella group, the Union of Fans, condemned the directors’ stewardship. The UoF statement read: “We note the announcement of the Rangers board regarding the season ticket renewal levels for the club this year. It is now obvious that a clear majority of fans have rejected Graham Wallace, Norman Crighton, David Somers, James and Sandy Easdale and their running of the club. “In any normal business, a board which had been rejected by over 50 per cent of its customers in the space of a few months would be removed. Whilst we do not expect this to happen due to the continued support of anonymous shareholders, who could not care less about Rangers, we would highlight that they have utterly failed to gain crucial trust from fans. “We do not believe this trust will ever be built without fundamental change at the club. The problem for this board is very simple. The vast majority of fans, even many of those who have renewed, simply do not trust them and likely never will. “The corporate governance at the club also continues to be a cause for grave concern. We would repeat that it is unacceptable for Jack Irvine of Mediahouse to have access to confidential, price sensitive board information through the Easdales and to then leak that information to the press as he did this week.” J
-
The board of Rangers (the “Board”) can confirm that approximately 17,000 season tickets have been renewed to date for the Club's forthcoming SPFL Championship season. This level of renewals reduces the potential requirement for short term financing as highlighted in the Business Review Summary published on 25 April 2014 particularly given the updated season ticket pricing structure for the 2014/15 campaign. Applications for new season ticket purchases opened on Monday and sales of season tickets are continuing. The Club very much looks forward to welcoming more supporters back to Ibrox for what promises to be an exciting league competition. The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. The Board continues to evaluate its plans in this regard and will update the market in due course. http://www.rangers.co.uk/news/headlines/item/7059-season-ticket-sales
-
http://www.bbc.co.uk/sport/0/football/27804525 By Richard Wilson BBC Scotland Finance remains the fundamental issue at Rangers. One contingency plan has always been to seek additional funding from current shareholders, and a substantial drop in season-ticket sales merely exacerbates the problem. When chief executive Graham Wallace published his business review last April, he indicated that if the uptake of season tickets was "materially less than anticipated" then the board would consider a pre-emptive offering of 43 million unissued Rangers International Football Club shares to existing shareholders. That remains, for now, the only viable way for the business to raise additional funding. With a new share issue proposed later this year, the price would be at a discount to the current market value of 27p and the intention is believed to be to generate in the region of £7m. This would go some way to covering any shortfall from a significant drop in season-ticket sales, and so allow the business to continue trading for the next 12 months. Unanswered questions abound, though. Which shareholders, for instance, would participate? Some individuals are suggesting that Laxey Partners would invest more money, along with Sandy Easdale, the chairman of the Rangers Football Club board. Others believe that the institutional shareholders, such as Hargreave Hale and Artemis, would not participate, given the sharp fall in the share price from its launch of 70p. In the first instance, existing shareholders are normally offered enough additional shares to maintain the size of their overall stake. Any shares that are not taken up could then be offered to existing shareholders to allow them to increase their ownership stake. It is also theoretically possible, though, for the board to place shares with specific existing shareholders, which could strengthen the power base of the group of aligned shareholders who currently effectively run the club. That would, though, be likely to agitate those left out and potentially cause further upheaval. However, Easdale and his proxies could then be considered as acting as a concert party if their combined shareholding goes above the 29% threshold, and so expose them to takeover panel rules and regulations. While a pre-emptive offering is restricted to current shareholders, their rights to participate can be acquired by non-shareholders. So while finance remains the fundamental issue at Ibrox, in that it underpins every substantial development, how the need for funding is addressed is also critical. Control is at stake also. Laxey Partners are currently the largest single shareholder, while Sandy Easdale held the proxies for around 25% of shareholders at last December's annual meeting. Institutional shareholders supported the current board at the AGM, but the need for additional funding may alter their point of view. Wallace is attempting to steer a course through the demands of financial issues and specific shareholder interests. There is no simple solution, beyond a radical change to the shareholder dynamic. That would only occur, though, if shareholders were prepared to sell their stakes or if a fresh rights issue was launched to the public. In the meantime, the Rangers board need to ensure that the business can trade as a going concern for the next 12 months. When the interim results were released last March, they contained a note outlining that a fall in season-ticket renewals from last year's figure of 38,000 would affect the business's ability to trade as going concern. Right now, Rangers are thought to still be considerably short of that. Short-term financial issues are at the forefront, but other intrigues also exist. It has been possible to detect, within the noise around the club, a growing tension between Wallace and Sandy Easdale, who is not a member of the plc board. Wallace has the executive role, but Easdale, through his proxies, carries the strongest shareholder authority. Rangers' April review: Key points Business needs to raise up to £30m over three years New share issue planned for autumn 2014 Cuts of £2m have already been made with other savings likely Plan to make the business sustainable by season 2015/16 Aim to make team Scottish Premiership winners by 2017 The flow of information is also a source of consternation to some within Ibrox, not least because talk of a share option is price-sensitive information and ought to be published first to the stock exchange. Jostling for position is evident, although finance remains the key point, not individuals. Dave King, the former Rangers director, wants to invest directly in the club. The South African-based businessman and Wallace in his business review both estimated that it will require £20-30m of additional investment to provide Rangers with the means to challenge Celtic for the Premiership title and compete again in Europe. The only way to raise that kind of money would be a fresh public offering of shares, which is what King wants to participate in since his money would go directly to the club, which needs money spent on the football infrastructure - there is still no scouting network - and maintenance work at Ibrox. King's intervention would likely lead to the dilution of the current shareholders, though, which is why an alternative route is being sought. The current squad, with one or two additions, ought to be good enough to gain promotion from the Championship, but to compete again with Celtic, Rangers need to be properly rebuilt. There is a current shortfall to address, but that is only a short-term fix. For Rangers to compete at the highest level, a change in approach is required.
-
http://www.bbc.co.uk/sport/0/football/27793911 Rangers are to launch a new share issue in a bid to raise in the region of £8m. The Ibrox board met institutional investors in London on Tuesday, with the new issue to take place before the end of August. Rangers chairman Graham Wallace recently told fans that the Ibrox club was "in a good place" financially. The BBC understands that a minimum of £7m is needed to cover a cash shortfall at the newly-promoted Scottish Championship outfit. Major shareholders Laxey Partners and Sandy Easdale, chairman of the football board, have both indicated they will buy more shares. The Union of Fans - a collective of Rangers supporters groups - has urged people to withhold season-ticket money in protest against the board's running of the club. It led to question marks over the ability of the club to meet the sales figures required for next season. However, Wallace insisted Rangers are "in a good place" despite concerns over the club's finances. The chairman's 120-day business review set out the club's intention to raise fresh equity in the autumn, win promotion from the Championship at the first attempt next season, before adding a Scottish title and being competitive in Europe by 2017. The club's interim accounts revealed losses of £3.5m for the six months to 31 December and "going concern" status was only granted on the basis of predicted rises in season-ticket prices and sales. The board have had to seek emergency funding in recent months. -
GRAHAM WALLACE says Rangers now has a solid base from which it can move forward with confidence as it looks to grow, prosper and thrive more as time goes on. Wallace has spent the weekend in Toronto at the 2014 NARSA convention, where over 1,000 Light Blues fans have been in attendance. The chief executive took questions in an open forum yesterday afternoon following the association’s annual general meeting. A number of issues were raised with him and Wallace is keen to reassure Gers followers a path to a brighter future lies ahead. He said: “It has been interesting talking to a different cross-section of fans in Toronto as it was an opportunity to hear at a really detailed level about some of the issues they have. “Almost since the day I came to Rangers, we’ve been operating in an environment where there have been consistent questions about the financial stability of the club. “I’ve repeatedly come out and said there’s no threat of administration and we’ve built a very solid base now which we’re moving forward from. “The fans should take reassurance and comfort from that. We are moving in a way that allows us to grow and develop the business. “The long-term financial stability of the business is well in hand and we are in a good place now. Fans should be confident and comfortable with the club’s long-term stability. “The club needs them to survive like any business does and we are absolutely hoping they will stand behind and support the club the way they have in recent seasons. “In the vast majority of areas, I think we are moving in the right direction and it is business as usual at the football club. “The fans are looking for a degree of confidence that their club is stable, it’s being properly run and we are in a good position financially. “We are now in our best position financially in my time at the club so that’s positive and we are placed very well for the start of the forthcoming Championship campaign.” Wallace admits there is still considerable work to be done as Rangers bid to make up for what he feels has been a missed opportunity to rebuild in a better way since administration in 2012. But he is sure a lot key moves have now been made which will allow the League One title winners to make more notable strides from now on. He added: “I’ve been in position now for a little over six months and in that time it has been extremely challenging. “There have been so many legacy issues we have had to deal with and we spent a considerable period of time looking at the condition and the state of the business. “We had to map out what we think the club and the business is capable of doing over the next several years. “We have done a tremendous amount of groundwork and we’ve addressed a significant number of issues. “In April, we published our business review. That gave fans a sense of what we inherited but more importantly, a sense of the vision of where we think we can take the business. “We have made significant strides but it’s not an overnight journey and what we are looking for now is to move forward again. “We want to go through our pre-season routine into the new season and really push on, starting to make a huge difference in the areas we’ve identified.” http://www.rangers.co.uk/news/headlines/item/7029-a-base-to-grow-from
-
“There must be some kind of way outta here Said the joker to the thief There’s too much confusion I can’t get no relief Business men, they drink my wine Plowman dig my earth None were level on the mind Nobody up at his word” Where is it we are trying to get out of ? I would respectfully suggest a rock and a hard place. As many of you know I’m not often given to profanity – but quite simply – what an absolute clusterfeck. There is a civil war engulfing us with our boardroom the battleground. As in every conflict the collateral damage is considerable. On one side we have a board who have failed to impress, fail to convince the Rangers support they have our club’s best interests at heart and on the other side we have the challenger in the shape of Dave King, who appears to be being given considerable latitude in his own failings and lack of clarity, as a consequence of his previous investment in our club. And of course that collateral damage I referred to is manifesting itself not only in a season ticket boycott, but also in the form of a “protest shirt” whose purpose is to deliberately prevent incoming revenue from the sale of club merchandise. It’s easy to say that such ventures deprive the board of money and as anti-board protesters I’m sure that provides the conscience with a fairly robust moral platform for such action. But at what point does it not only deprive the board, but also our club and a manager wishing to strengthen a squad ? Having deliberately deprived the board of regular and essential revenue are we then to hold them to account for failing to enhance our playing squad ? Good Lord. Before anyone starts harbouring feelings of sympathy for the current board allow me to remind you of the 3 critical questions I tweeted about the other week, which as yet remain unanswered. 1. Why did our club have to secure additional funding after CEO Graham Wallace assured us only weeks earlier there was sufficient money in the account. 2. Why have the board not moved to dispel allegations by the Daily Record that our credit/debit card facility was removed re season tickets due to the financial incompetence of the board and not as was suggested in the review – due to threats of an imminent boycott. 3. Why does it appear the Rangers Football Board, or persons serving thereon, have the ability to overrule the PLC board, when circumstances dictate. At the forefront of much of the angst against the current board have been the Sons of Struth. Since its inception this group have campaigned on a platform of opposing any sale or leaseback of Ibrox Stadium. Perhaps this groups 3 original aims and objectives are worthy of a refresh. 1. Keep the stadium in the club’s name to avoid Coventry situation 2. Have clear accounts which prove the proper running of the club 3. Have a board that keep the club off the front pages and who themselves are beyond reproach. To date however the Sons of Struth have not shared with the wider support the circumstances which gave rise to their fears which suggested our stadium may be subject to a sale and leaseback. Why cant those demanding transparency of others lead by example ? Surely if there is evidence which suggests this current board are planning such an option for our stadium it is something which should be shared with the wider support not only made available to a select few ? In fact would the sharing of such information not in fact be in this group’s interests in convincing the undecided within our support of the unsuitability of the current board ? I have spoken previously of our need for our support to find an enthymeme – a point where there is common agreement and we can move on from. Surely the status and destiny of our 2 biggest assets – Ibrox and Auchenhowie – can provide such a point of common agreement. All along the watchtower Princes kept the view While all the women came and went Barefoot servants, too Outside in the cold distance A wildcat did growl Two riders were approaching And the wind began to howl How long before the Princes stop being onlookers, or begging for the scraps off the master’s table ? When will we start campaigning on behalf of ourselves and the vision and aspirations we have for our club instead of using our energies and efforts to do the bidding of others ? When will we realise that the way outta here is to take control of our own destiny, and rely upon ourselves rather than upon others ? As Buy Rangers, Rangers First and Vanguard Bears continue to do that which Dave King seems to find impossible – buy shares in our club – its becoming less and less a question of “if” but rather a question of “when” ? Many music critics have commented on how Dylan’s All Along the Watchtower mirrors the words of The Book Isaiah Chapter 21 :- Prepare the table, watch in the watchtower, eat, drink: arise ye princes, and prepare the shield./For thus hath the Lord said unto me, Go set a watchman, let him declare what he seeth./And he saw a chariot with a couple of horsemen, a chariot of asses, and a chariot of camels; and he hearkened diligently with much heed./…And, behold, here cometh a chariot of men, with a couple of horsemen. And he answered and said, Babylon is fallen, is fallen, and all the graven images of her gods he hath broken unto the ground. I truly hope I live to see the day when Babylon falls at our club.
-
keith jackson @tedermeatballs 43s More sources close to RFC board saying 20k season tickets now sold. If true then they should thank Dave King for his prolonged silence. IF true.
-
Thursday, 29 May 2014 14:00 Gers Confirm Pre Season Tours Written by Rangers Football Club http://www.rangers.co.uk/news/headlines/item/6988-gers-confirm-pre-season-tours RANGERS have today confirmed they will prepare for the 2014/15 Championship campaign with a visit to Northern Scotland and a 12-day trip to America and Canada. Following a successful training camp last year, the League One Champions will again head to Brora on 1 July for a six-day trip which includes a friendly against Buckie Thistle at Victoria Park on Thursday 3 July (7.30pm kick off) and a game against Brora Rangers at Dudgeon Park on Sunday 6 July (3pm kick off). Ally McCoist's squad will then travel to America and Canada from 12 July, playing two games in each country. Rangers play Ventura County Fusion at Ventura College Sportsplex in California at 7pm on 15 July then Sacramento Republic FC at Bonney Field, Sacramento at 7.30pm on 19 July. The Light Blues then play two games in Canada – against Victoria Highlanders at the Centennial Stadium, British Columbia at 6pm on 21 July with another fixture on 23 July to be confirmed in due course. Kick off times for all fixtures are local times. Rangers visited the United States ahead of the 2002/03 campaign and the trip to New York prepared the team for a treble-winning season, while Walter Smith’s class of 2006/07 won an end of season friendly against LA Galaxy in California in May 2007. Ally McCoist commented: “I am delighted our pre-season plans are now in place and we can prepare for next season’s important campaign in the Championship. “We enjoyed a successful trip to Northern Scotland last year and we look forward to taking the squad there once again to play Buckie Thistle and Brora Rangers. “We then head across the Atlantic to play four games in America and Canada and I have no doubt our overseas supporters will enjoy seeing the team in action once again. “We have a wonderful global fanbase and I am sure the members of NARSA (North American Rangers Supporters Association) will turn out in huge numbers at all of our games. “The trip to America and Canada is also a fantastic opportunity to re-introduce Rangers to the North American fans and I am confident the tour will be a success on a number of levels.” http://www.rangers.co.uk/news/headlines/item/6988-gers-confirm-pre-season-tours
-
So many season tickets have been sold in the past because it was 'what you did' every year and also an element of loyalty when the Club was down. Very few, if any, were still buying for the entertainment value. It was very much a habitual thing for a large number of us. You had your budget fixed every year to allow for it. A huge assumption is being made (IMHO) that everyone will come back if the boardroom mess is sorted out. I have major doubts about that. You see, I don't believe everyone has put the money aside for that eventuality. I think the poor uptake on Dave King's fund supports that theory. I don't think it was a mistrust of DK. People just want to see something for their money - instant gratification. Very few working class folks have that money to simply leave lying in a 'limbo' account. I also KNOW of many who were seriously considering giving up the STs due to the perpetual lack of entertainment year on year. Taking that step to use the money for something else, e.g. a large contribution towards a family holiday, has been a huge decision for some. But like with anything habitual in life, once you break it life goes on. After a few months........if there is nothing there to entice you back.... I'm just interested in whether anyone believes we will hit the same heights again in sales? I firmly believe that boardroom change wouldn't be enough to win the people back. -
IMO this question should come before the one about on-field exploits. There are many things to take into consideration and perhaps the Financial Bears could map out what they see as a probable/conditional route through the next 12 months. Some of the obvious questions that scream out are:- - Where is the money coming from to keep the lights-on? - Will there be an insolvency event? - What will be the final ST number? - Will game by game maintain it's attraction? - How long will it take to get a share issue up and running and will it be successful? - Is there money to carry out plans mapped out in business review? - How deep could austerity hit us? - How exactly will austerity hit ut? - How will severe austerity be paid for? (pay-offs) - When do the assets go? - Do you trust who is in control of the board (including the Easdale proxy block)? etc. -
RANGERS were today urged to clarify the current state of their finances - after it emerged that loans of £1.5million have not been repaid. Wealthy Gers fan George Letham and major shareholder Sandy Easdale lent the cash-strapped Ibrox club £1million and £500,000 last season. Under the terms of the agreement with the SPFL League One champions, they are due to receive that money back as soon as it is in the club account. But the pair have not received their cash - more than a week after the deadline for season ticket renewals passed. The Union of Fans want to be granted security over the stadium and training ground, and they have been urging supporters to pledge their money to Ibrox 1972 Ltd. And it is still uncertain how many people have signed up to watch Ally McCoist's side in the SPFL Championship during the 2014/15 campaign. This latest development has not helped to make the situation any clearer - and Rangers chief executive Graham Wallace has been encouraged to speak out. Rangers Supporters' Association general secretary Drew Roberton said: "When we (the UoF) met with (director) Norman Crighton, Sandy Easdale and Graham Wallace the other week they were adamant there was enough money in the bank. "They also said that they could raise £5m at the 'push of a button' and that all but one of the current investors had agreed to back a scheme should they need additional revenue. "But I was told on Thursday that around 12,000 had renewed their season tickets. If that is the case, and even allowing for the fact that many will have chosen to repay in instalments, then this might be cause for alarm. "My understanding was the first £1.5m of season ticket money that came in would be used to repay these loans. It would be good to have some sort of explanation." Roberton added: "Graham Wallace has said repeatedly that administration will not happen and the club will not run out of money. "Either he is right and we have sufficient money. Or he has been spouting the party line and he may have to take the fall. He may be faced with a career decision soon. "Whether his belief that £5m can be raised 'at the push of a button' is included in his forecast is not clear. But season ticket sales are slow and running costs are in the region of £1m a month." Roberton, who revealed he was "disgusted" at the way the Union of Fans was treated after their meeting with the board, has also urged the club to heal the rift with Dave King. He said: "The club has said they need to raise £20-£30m to get back to the top. Well, they have a guy, Dave King, who is chapping on their door who is willing to invest £30m. "It is economically silly to ignore him. The club say they hope to raise money in a share issue. But in far better times Sir David Murray had to underwrite a share issue himself." A Rangers spokesman said: "The loans will be repaid in accordance with the terms of the agreement in a timely and proper manner. We are in regular contact with Mr Letham and Mr Easdale." Meanwhile, Rangers chief executive Wallace received hundreds of postcards from supporters outlining why they have not renewed their season tickets when he returned to work today. The cards were delivered at a protest organised by the Sons of Struth on Saturday. It was one a series of events the Sons of Struth have lined up during the summer. http://www.eveningtimes.co.uk/rangers/uof-call-rangers-to-account-164951n.24329053
-
Nacho Novo branded the current situation at Rangers a ‘joke’ as he lent his public backing to Dave King’s plan for boardroom change. The Spanish striker has become the latest former Ibrox player to speak out against the existing regime – following Richard Gough, Lorenzo Amoruso and John Brown. Staggered by the squandering of almost £70 million in the period between May 2012 and December 2013, Novo believes an overhaul is required if Rangers are to be restored as the title-winning club he represented between 2004 and 2010. Anger: Nacho Novo has hit out at the debt and uncertainty dogging his former club Rangers The 35-year-old is supportive of fans withholding season ticket money and hopes to see King eventually assume a position of control at the end of the turmoil. [h=4][/h] The South African-based businessman has stated a willingness to invest around £30million in a new share issue which, if granted, would weaken the current shareholder power base. ‘It’s all very sad – you can see that in the people at the club when you go to the stadium or Murray Park,’ said Novo. ‘It’s sad – in my time everyone was happy, the training ground and stadium were excellent. ‘Now it looks as if it’s been left and is not being looked after. ‘The spirit is not the same either. I’ve been at Murray Park and Ibrox – and there is something missing. The feeling is not there. ‘It is still a massive club and without the fans the club would not exist. ‘Families are struggling for work and don’t have much money to live on yet they will always try and support the club and would normally buy season tickets. Yet they do not know where the money is going. ‘It’s not just that – for me the whole thing is a joke. Anyone who pays money needs to know what they are funding. That’s why I’m 100 per cent behind the fans and Dave King.’ After a compromise briefly appeared to be on the cards last week, relations between the Rangers board and the Union of Fans have plumbed new depths in recent days. The club denied claims it intended to offer any legal guarantees over Ibrox and Murray Park, with the Union of Fans responding by expressing fears the key assets could be in ‘grave danger’. King’s next move is now awaited. He may try and rally support for change among investors, but has so far insisted he has no intention of buying out existing shareholders. ‘I have been supporting King and before him Paul Murray – they are Rangers people and for me I will always side with them,’ said Novo. ‘I will definitely support them and have thought about making this statement before now. ‘I hear people asking all the time – why don’t people put lots of money in? But let’s be honest – why would you put money in now when you don’t have any clue where it is going? The whole thing is a mess. I will support King because he has Rangers’ interest at heart. ‘The only people I really care about in all of this is the fans. They are the ones who have spent their money on Rangers and they are the ones who are told nothing.’ Read more: http://www.dailymail.co.uk/sport/football/article-2634441/The-situation-Rangers-joke-blasts-former-striker-Nacho-Novo-backs-Dave-Kings-plans-struggling-Scottish-giants.html#ixzz32IlO09Vi Follow us: @MailOnline on Twitter | DailyMail on Facebook -
SATURDAY 24TH MAY. CELEBRATION AND PROTEST We have been asked by many fans to arrange some protests during the close season and as 24th May is the anniversary of the clubs greatest victory in Barcelona 1972, we have made arrangements for the Louden Tavern at the stadium to show a re run of the game from 1.00pm At 3.00pm we will be marching to the stadium for a 30 min protest and a petition to hand in and explain why the fans wont renew season tickets or indeed buy new ones. We require as many fans as possible to turn up as a show of numbers would be vital for the success of the protest Fans are asked to meet up at the Louden between 1.00 and 2.30 to give us adequate time to make final arrangements with fans Can I ask all to share at usual places and feeback to me with expected number which will allow me to notify Louden and make necessary arrangements. We are planning on some other things for Saturday and will announce them once we have confirmed Thanks Craig.
-
It has been described as a game of poker but the battle for Rangers has become something of a hand of three-card brag. The most crucial aspect of this game of claim and counter-claim is when the King is played. There are three parties to the Rangers story and each has reached a time of decision. The Union of Fans, the representatives of six fan groups, met last night to discuss the latest developments in a narrative that stretched over two years. The most crucial aspect of their discussions will be the future of the Ibrox 1972 initiative which sought to place season-ticket money in trust under the directorship of Richard Gough, the former Rangers captain, and Dave King, the South African-based businessman who is seeking to alter the power base at the club. The statement by the board on Saturday night that legal guarantees over Ibrox and Murray park would not be offered to fans has left little room for manoeuvre. First, the supporters believe that this was not their understanding of what occurred at the meeting; second, they said it was impossible to deal with the board in good faith and, third, it makes the ploy of Ibrox 1972 almost redundant. The move over season tickets was designed to bring pressure on the board and it did. But the incumbents have so far ridden this out. Indeed, Rangers sources were last night "bullish" about the future, predicting burgeoning season-ticket sales, declaring that precise figures would be given to the markets in due course as they represent market sensitive information. There was one glitch. Under agreed terms, once Rangers have reached £1.5m in season-ticket sales George Letham and Sandy Easdale must be repaid their loans. It is understood, however, that Letham is still awaiting repayment. There was, though, the unmistakeable message yesterday of Rangers "getting down to business", with sources citing appointments to be made, playing plans to be drawn up, the challenges of next season to be met. The delicate point of where all the money will come from has been, ahem, disputed. Rangers hope that the season-ticket tally will approach 20,000, hospitality packages can be sold and that a much-needed income stream will run quickly and profitably. There is also the matter of the £5m of equity funding from existing investors that could be accessed at the press of a button, according to sources close to the talks between supporters and board members this week. A share issue, too, could be brought forward to the end of summer. Even those inimical to the existing board suggest the club "could stagger on" into next season. However, savings must be made and investment found. This may make it an uncomfortable summer for Graham Wallace, the chief executive. He has been assailed by fans over the 120-day review and statements made at the annual general meeting. He also suffers the fate of all chief executives of being an instrument of the board and there was a wounding assertion from the Union of Fans that Wallace is "less powerful" than Sandy Easdale, who is not a member of the plc board but sits on the football equivalent. Wallace has set out his plans and has embarked on a recruitment campaign, in particular for a marketing manager, but has to do this while fighting fires. He will need support but, being Rangers, he should not expect it. The most intriguing player in the card game is, of course, King. If he sits on his hands, Rangers may limp towards some sort of stability - with a much-reduced cost base and a viable challenge to Celtic postponed - or they may slowly but inexorably slip towards financial perdition. His intervention, though, would be a game-changer. However, there is increasing concern among his supporters that King has hesitated too long. One City source, who has control over a tranche of Rangers shares, last night said: "Time is running out for a decisive intervention. King has had talks in the City about proxy votes and these have been amicable, and might even be productive. But there is a sense that something must be done quickly." King must convince the City that the turmoil at Ibrox is such that it is better to give him proxy than to rely on the board to raise the share price to anything like the launch level. The share price has risen of late to just more than 28p from a low of 22p in May. King, however, has stated bluntly he does not want to buy shares from the incumbent board. There are considerable amounts of shares on the margins with some corporate holders open to selling. "There is a feeling," said the City source, " that some of the original investors would take the hit and write it all off to experience and to tax." The most recent soundings from King make clear that he does not want to pursue the buying of shares as this will dilute the money available for a significant investment to make Rangers competitive with Celtic quickly. Any dramatic and immediate development in the Rangers story would thus have to come from King. There is no doubt that the maverick businessman knows how to hold 'em. His supporters trust that his hesitation may not involve accepting he has to fold 'em. Rangers are still in play but the match has moved into extra time for King. http://www.heraldscotland.com/sport/football/can-rangers-trump-king-or-does-he-still-hold-the-ace-card.24273947 -
Give written legally binding assurances to fans that Ibrox stadium will not be sold or used as security for any loans Ibrox stadium has been the home of our club for over 100 years and due to mistrust of the board of directors, many fans are unhappy that no legally binding assurances have been forthcoming from the board and a recent club statement declared that the board are unwilling to provide such assurances. The board agree that the stadium is sacrosanct and state they will not sell or use as security. The word of the board can not and will not be accepted by many fans due to a number of recent statements that have since proven innacurate and untrue. Fans also wish to be protected if the current board should be replaced in the future. They have also declared they wish to build trust with the fan base and this action would go some way in improving any relationship https://www.change.org/en-GB/petitions/graham-wallace-give-written-legally-binding-assurances-to-fans-that-ibrox-stadium-will-not-be-sold-or-used-as-security-for-any-loans?recruiter=97305010&utm_campaign=mailto_link&utm_medium=email&utm_source=share_petition
-
Sons of Struth Just now UNION OF FANS STATEMENT "In response to the disingenuous statement from the board, and to clear up the confusion they appear to be deliberately trying to cause Rangers supporters, we would like to reiterate our truthful account of the discussions held with Mr Wallace, Mr Crighton and Mr Sandy Easdale. We were invited to Ibrox by Mr Wallace, days after the launch of Ibrox 1972, to discuss the ongoing issues surrounding the security of Rangers’ assets. During the course of that discussion on Wednesday 14th May, Mr Wallace suggested that, whilst security would not be granted, the board would be open to offering a legally binding undertaking that Ibrox would not be sold, subject to sale and leaseback or any type of loan security. For the avoidance of doubt, that was Mr Wallace’s proposal, not ours, and he indicated that the plc board would meet on Thursday 15th May to discuss it. Given that two of the four plc board members who were required to rubber stamp this proposal were present, and apparently in favour of it, this was very much presented as a formality. We made it very clear that any such undertaking would need to be evaluated by our lawyers and this was accepted by all those in attendance. Given what Mr Wallace proposed regarding Ibrox, we asked that the same arrangement be put in place for Murray Park in order to safeguard it from the same fate. This was met by more substantial opposition from the board representatives, in particular Mr Easdale, who we would like to emphasise is not a plc board member, and Mr Crighton. They said they wished to retain “flexibility” over Murray Park. However, by the end of the meeting they had also agreed to consider granting the same undertaking as the one they suggested for Ibrox. This, we were told, was also to be discussed at the plc board meeting on Thursday 15th May. Our statement on the night of Wednesday 14th May reflected all of that and was 100% accurate. Any attempt to suggest otherwise is a deliberate misrepresentation of the facts. Since that meeting we have heard nothing from the board. It is clear that they have now rejected Mr Wallace’s proposal to give a binding undertaking over Ibrox. It is clear that they have considered our proposal that the same undertaking be given for Murray Park and have also rejected that. The idea that this latest board proclamation should give supporters any type of additional confidence over the club’s assets is therefore utterly ridiculous. In fact it should confirm just how much danger our vital assets are in. It is clearly impossible to deal with this board in good faith. They told us we would receive a swift response following their deliberations. We have received no response. They told us that over the past two weeks, all major investors, bar one, have indicated they will participate fully and proportionately in any future rights issue. We do not believe this to be the case. They told us that all those major investors are supportive of their business plan and were impressed with the ‘120 day’ review. We do not believe this to be true. They told us that they have access to an instant £5m of equity funding from existing major investors. This, according to Mr Wallace, is available at “the push of a button”. We believe that, if this is true, it will be used to benefit Mr Easdale’s associates. It is clear that Mr Wallace, despite being Chief Executive, has less influence in the plc boardroom than Sandy Easdale, who is not even a member of the plc board. It is clear that Murray Park is in grave danger and has been since December 2013. The statement from the board that they “will not be seeking” a sale and leaseback of Ibrox is not binding and it is still not unequivocal. We believe, as long as the shareholders fronted by Mr Easdale are calling the shots in the boardroom, Ibrox will remain in grave danger too. Until this situation is resolved we would continue to urge supporters to think very carefully before they hand this board their hard earned money up front. It is clear from meagre renewal levels that a large majority of fans do not trust this board. Our experience is that this position is the correct one to adopt. Support the team, not the regime.”
