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........of emergency cash slams Brian Stockbridge's 'disgusting' golden handshake share deal. GEORGE Letham, who is still out of pocket four months after bailing the club out, has accused the regime of misleading shareholders about Stockbridge's penny share option at December's agm. THE Rangers fan who loaned his club £1m of emergency cash last night said he is “disgusted” by Brain Stockbridge’s golden handshake share deal. Record Sport revealed yesterday that former financial director Stockbridge will pay just £7000 for around £215,000 worth of shares as part of an agreement with the board when he was booted out of Ibrox in January. Now wealthy fan George Letham – still out of pocket four months after bailing the club out of a financial crisis in February – has accused the current regime of misleading shareholders about Stockbridge’s penny share option at December’s agm. At that meeting, Letham asked specifically about Stockbridge’s entitlement to share options worth up to £500,000. In a statement supplied to Record Sport last night, Letham described the board’s failure to disclose the full details of that deal as “indefensible”. He said: “I am disgusted by the news that the share options granted to Brian Stockbridge were at an exercise price of one pence and feel that myself and all other shareholders present at the agm were misled by the response to my question. “The response to it from Stockbridge and David Somers meant I left the agm comforted that my shares were not going to be diluted to the benefit of Stockbridge. “I think it is indefensible that company representatives and advisers present at the agm did not seek to clarify the position especially when shareholders were voting on a resolution to give authority to grant share options of up to 6.6m shares to directors and employees.” The Union of Fans also hit out and questioned whether Charles Green had a similar agreement on his shares. Their statement read: “If ever fans required a reminder of the reasons for our campaign to secure our club’s home, it is the recent windfall received by Stockbridge, who has been handed shares worth around £215,000 for which he has paid just over £7000. “It is the current board’s position he was contractually entitled to these shares and so it was outwith their control. We reject this entirely ... the windfall is an absolute disgrace. “Charles Green had a 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?” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-fan-who-loaned-club-3806719
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“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."
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well a few weeks with no rangers games and old compo is lost and to make things worse the world cup has wetted my appetite for footie I just hope we at ibrox play a passing and free flowing type of game something that will have the fans begging for more , lets hope .
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As title - What is wrong with the guy? Who the f*#k bites people??????? (Dracula excluded obv) -
Morning Folks, Confessions first, I'm a Hibbie but I come in peace. I wonder what you Rangers people make of the latest SPFL rule fudge to help Hearts out of their troubles ? Now before anyone says , but they are out of administration now, that is not the wording of the new SPFL Club insolvency rules adopted on 1st June last year. Rule E4 on page 37 of the SPFL rules states , " .......for each second or later season, during the whole or part of which such insolvency event or insolvency process is continuing and/or subsisting the club concerned shall be deducted 15 points ..... " Now Hearts may have completed the administration part of their insolvency process, but they are currently being run under a " Voluntary Arrangement " status supervised by BDO and this will continue until all the conditions of the CVA have been met. It is easily checked on Companies House web site. Their insolvency process will not be complete until BDO issue a certificate under the Insolvency Act 1986 of Completion of Voluntary Arrangement. Dundee F C had a similar form issued on 30/10/2013 which completed their insolvency process and is also on Companies House site. Hearts should be looking at a further 15 point deduction next season unless BDO complete the Voluntary Arrangement before the season starts, but this is being ignored by the authorities who don't seem to understand the new rules which were introduced just prior to Hearts insolvency event. Now we could complain, but we would just be accused of being bitter Hibbies ( which is probably true ) but you guys have real grounds for complaint, if the rules are being fudged to help Hearts ( it was all that bad Romanov's fault ) They will get away with it unless a real noise is made in the media and with the SPFL. 15 points off will help yours and our promotion bids and it is how the rules have been written. Anyway, good luck next season, hope you finish second , behind us, we are no use at play-offs. Actually have been missing you at Easter Road.
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According to his mum on the radio this am. "His dad played for Hibernian and the whole family are big Hibs fans." Good luck to the young man - we all have our troubles in life. I only mention this because he was touted as either a bear or a jambo. I always thought he was hertz because he talks posh like Gorgie folk, 'ken?
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Article submitted by Andy Steele: SDS Survey: No Issues? No Chance! News that a survey by fans' body Supporters' Direct Scotland has found that while the vast majority of fans felt the game in Scotland had no issues with racism or homophobia, it had a big, big problem with sectarianism. This highlights not just the issue of social attitudes and football, but, sadly, the problem people have with perceiving themselves as part of the problem. One can assume fairly safely that for such a result to be obtained a good proportion of respondents were either non-Old Firm fans, or if Old Firm fans, Celtic supporters. I would be willing to place a hefty wager that the only fans who feel strongly that there is little sectarianism in Scotland would be those supporters the others consider to be the problem: Rangers fans. One must always, in such debates, pander to the thin skinned and establish that yes, one does think there is an issue and yes, Rangers fans most of all need to deal with it. A major issue, though? I don't see it in my day-to-day life, though I may of course simply be lucky or blinkered. Having established that denial is not on the agenda, though, I'd like to examine the other two aspects mentioned, homophobia and racism. If Scottish football has no issue with racism it is because the game is played, watched, commentated on and written about in what is a virtual monoculture. The BBC can count Kheredine Iddeshane, who to guess from his name may be of middle east extraction, and STV Rhaman Bardwan, but that's about it. The sight of players from non-European backgrounds has diminished of late, while managers and chairmen are exclusively white. No racism? Well, maybe if we understand that creating an almost exclusively European ethnic identity for the game will go a long way to excluding those from without such a background, it may expain why there's 'no racism': there's no cultural mix in which it might appear. Perhaps, if we actively created an environment which encouraged diversity, and focused on policing the resultant mix effectively, we may find we're not quite so tolerant as we might like to think. Or we may not - who knows? Casual racism has certainly been part of my west of Scotland experience: I am inclined to believe that 'no issue' is a complacent and boastful conclusion not based on evidence. But since many have called long and loud for such an approach to sectarianism, it seems only logical to apply it to these other areas as well. And what about homophobia? 'Get fucking up, ya poofy cunt' is, for the student of English, a fascinating sentence, but it's hardly indicative of a tolerant atmosphere. You'll hear it, and variants thereon, at every ground every week when an opposition player is apparently injured, though: 'no issue'? When 'Off the Ball' described a poor flag as 'poofy' I actually, for the first time in my life, got off my arse and complained. I got a reply: it was drivel. Credit where it's due, though, the programme presumably realised they were out of order and have since addressed the issue interestingly and humourously. What the incident that riled me shows, though, is that many of us are actively discriminatory without even realising it: Stuart Cosgrove was no more actively trying to put down homosexuality than I am actively trying to create a Protestant theocracy when I sing 'No Surrender' at Ibrox. The effect, nevertheless, can be non-inclusive. My singing of that song is based on the fact that it creates a great atmosphere first and last, and not in any way because I care about or know about Irish or religious history. Others, though, hear my singing and feel excluded or offended by it. What to me is a noise is to others an insult - if Tom English, easily the best analyst of the game at the moment, is freaked out by it I have to think twice. That's not to say I will agree with him, but it gives pause for thought. Plainly all these issues are hyper-sensitive with absolutes thin on the ground, but there's simply no way we have absolutely 'no issue' with racism or homophobia. I suppose the point I'm trying to make is that in our game, all three of these issues exist to varying degrees, but only one is taken seriously and, conveniently, it's the one that can be blamed on someone else. Sectarianism deserves to be taken seriously, but so too do other forms of bigotry: not least sexism, which in Scotland remains rampant. I find women as sexually stimulating as the next man, assuming he's straight, but that's no reason to objectify them or base a professional appraisal on their chests or backsides: that's still the default position of far too many men. We've plenty issues which could do with being addressed both in the game and in the country, but the first step we take will have to be from our own front doors. Blaming everything on Rangers and Rangers fans while insisting the rest of the land is a paradise of tolerance and diversity is doing no-one any favours: a more honest appraisal of our own prejudices would reveal some or all of these issues, far from being non-existent, might be visible in the mirror tomorrow morning as you shave. http://www.gersnet.co.uk/index.php/latest-news/252-sds-survey-no-issues-no-chance
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.........that Ally McCoist showed me the door at Rangers. THE Northern Ireland internationalist says that McCoist spoke to him throughout last season and fully expected to stay at Ibrox. FORMER Rangers striker Andy Little says he was left stunned last month when he was axed at Ibrox. The Northern Ireland international didn’t take long to find a new club and earlier this month agreed a contract with Preston North End in England’s League One. Little, 25, is disappointed he wasn’t offered a new deal but understands why he was allowed to leave the League One champions. McCoist has brought Kenny Miller and Kris Boyd back to Ibrox since and Little said: “It was a massive shock. I was fully expecting to sign a new contract and stay at Rangers. “The manager had spoken to me throughout the season. I loved every minute of my time there but these things happen in football. “I think they needed to offload some players and I was the collateral, if you like. “I think the manager wanted to keep me but sometimes if there is another player he fancies more than you, he has to make that choice.” http://www.dailyrecord.co.uk/sport/football/football-transfer-news/stunned-striker-andy-little-still-3787254
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Dundee have revealed chief executive Scot Gardiner will leave the club at the end of June. Gardiner was recruited in 2012 to help "stabilise" the club and "build a solid platform for the future". A statement on the Dundee website read: "That work has now been completed and significant new investment secured. "With the club back in the Premiership and in good hands, Scot feels this is the natural time to move on and pursue other opportunities within the game." Gardiner said he has enjoyed his time at Dens Park, adding: "It is a fantastic football club and my thanks go to the board, my colleagues and the fans for the tremendous support I have had during my time here. "I will miss everyone but I leave confident that the club is in good hands and heading in the right direction." Dundee revealed that as part of a restructuring process, director John Nelms will serve as their managing director, director Ian Crighton has taken an executive role as chief financial officer and director Steve Martin will be commercial director. http://www.bbc.co.uk/sport/0/football/28081515 -
Anybody at this tonight ?
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http://www.redandblackshirt.com/
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All over twitter this evening.
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Don't think we've had a discussion on Boyd before. Certainly haven't had on whether I have been pro-Boyd. Long time posters on here will know I was his biggest critic. However this season I think we've seen a different player and I cant believe I would ever say that if we are being linked with him Id like him to return - mainly due to the position we are in. I still think he is a poor 'footballer' as such but he is a good poacher / scorer. 18 goals this season has kept Kilmarnock in the league until the final day and I wouldn't bet against him scoring today against Hibs. Looking at some of his goals from highlights and pictures I think we have got a guy who has matured late and realised what being a professional is all about. Ive no doubt his ventures in England, Turkey and USA (all of which were poor) has developed the 'person' Kris Boyd. I thought we wouldn't see him play again but to be edging towards a Scotland call up shows the hard work he has put in and he also looks far more fitter and stronger. Perhaps he thought he had made it when he came to Ibrox first time around and being part of Fergusons gang made him feel untouchable. If we was still a top flight team challenging for titles this wouldn't even be a thread but if we ever needed someone WANTING to prove his worth and banging the goals in the championship it might be Boyd now. If Ally could only find some tactical knowledge then playing Templeton, Macleod, Shiels and Law in creative positions then Boyd would score 20+ goals in the championship. But then again if Ally had tactical knowledge we maybe wouldn't need Boyd as Clark, Little and Daly may have got high tallys this season also and we'd be happy with them going into next season. I reserve the rights to retract this statement.
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http://www.bbc.co.uk/sport/0/football/27934760
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http://www.gersnet.co.uk/index.php/latest-news/250-dave-king-the-grand-old-duke-of-york
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Don't know if its age, but I don't get joy in seeing England lose as much as I used to. In the 90s there was odd occasion Id want them to win, and in certain sports I still do want them to win. When Beckham and Owen was in the team 10 years ago it was always nice to see them go out but I quite like this young attacking team. But they have got it wrong from top to bottom. The FA (and Premier League) is ran by fat cats for business profits. Would the likes of Greg Dyke get a job as a coach somewhere? So why are they allowed to run the game if they are not footballing men? Because where the money goes and comes from (sponsors, TV, fan income and owners) football is a win win regardless of the result so as long as the income runs in they are doing a good job. The FA and SFA should be ran or at least have footballing people running the game, and I don't mean ex players all the time, I mean football minded people. Roy Hodgson would be perfect fit at the top of the game running the FA with people like Bryan Robson, Trevor Brooking, Alan Curbishley. But as a manager he wasn't great at Liverpool and did ok with Fulham and West Brom but got the job as he wouldn't be a problem to those running it. Redknapp at the time took Spurs to the Champions league but is outspoken and likes his opinion so much like Brian Clough - he didn't get the job. Hodgson made some poor tactical decisions, when you are chasing a goal to stay in a competition you sacrifice a midfielder or defender for a striker but he went like for like twice until they went behind 2-1 again. The defence was poor bar Gary Cahill who was immense, the rest were awful. Even Joe Hart looked uncomfortable. As for players and selected squad overall: Id have taken Ashley Cole all day long, begged John Terry to come, taken Gareth Barry on form over an injured Jack Wilshire and taken a striker like Defoe who could get any type of goal. Really not sure what Jordan Henderson brings to the team and why he is picked when the class of Lampard is on the bench or the energy of Milner. I thought Lampard was excellent at Anfield in Chelsea's 2-0 win and hasn't played too many games so would fit nicely into that team. Milner is not a world beater but far more effective and gets back to help defend. In saying that the future is bright. They have the bases of a good squad. Going into Euro 16 with Shaw, Flanagan, Stones, Gibbs, Jones (if fit), Cahill, Wilshire (if fit), Barkley, Ox-Chamberlain, Sterling, Lallana, Sturridge, Walcott, Rodriguez....gives them a young squad with good attacking options, yet they need a decent coach to mould them together. For me England should have a look at getting Redknapp again. He would have taken Brendan Rodgers last time around but given his Liverpool role now he probably wouldn't take it, but someone like Paul Scholes should be brought in as assistant.
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This is one for the support. I don't see him as a winner.
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I bought the third kit on the 1st of September. Very quickly the sponsor started peeling off, as it did for many others. I reported this to them in October, they said to return the item. However, I wasn't in any rush to do so, I didn't want another top, so I forgot about it for a while. In May I emailed them again asking them to confirm I can still send the top back. I was quite stunned to be told: I have argued back and force regarding this because I am protected by the Sale of Goods Act and a 12 month manufacturer warranty but they are not budging. The warranty does not expire on some arbitrary date of their choosing. They are ignoring me now. I've sent 4 separate emails citing the law, they sent 3 emails back repeating themselves and didn't reply to my last email. I don't care about the money but I do care about the principle, who should I report this to? I don't see much point in contacting the club. I know I should have dealt with this at the time and just put it back, but as long as the item is within the warranty period, they have no right to just flat out refuse to even inspect it. Here is the shirt in question, worn only a few times and costing £48.98 including delivery:
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Here is my plan complete with gaping holes for a velvet rangers revolution. I believe currently the rangers support is too fragmented to be effective in achieving fan ownership in 2014, and efforts should be turned to season 2015-2016 by the end of the year if 'angel investors' have failed to remove the current board. Goal - To create a consensus within the rangers support and eliminate economic uncertainty. To buy the club for fan ownership. To rebuild Rangers as a global player Method - Conference to create united body Use fans' season ticket money to buy shares This is Plan Z - it assumes that any investor angels with normal sized hands predictably as usual have failed to walk the walk, and the support are totally on their own with no outside assistance. I think fan ownership could be achieved by dangling this carrot in front of the 17,000 - from 2015 to 2016, a season ticket will entitle the purchaser to a full share in Rangers, and run for 3 years. I would expect around 100,000 tickets at £500= £50 million. I would invite the permanently disappointing millionaires to invest, up to £50 million, and offer a seat on the board for such investment, (and most importantly for their contacts and business acumen) but weight supporter owned shares 2:1 over investor shares. So to recap £100,000,000 investment inwards in 3 years, but with season ticket revenue being used to buy out ****s, and with supporters owning 66.66% of club. If the ****s won't sell, then they must be made aware that any plans they have for Ibrox RE sale leaseback, will not be acceptable. They must be made aware that rangers are willing to move to Hampden and possibly rebuild it with the SFA, if the conditions for Ibrox are not right. If this happens and the ****s sell Ibrox to property developers, they must be made aware that there will be continual harassment and civil disobedience on the site of Ibrox with the sole purpose of reducing the value and profit of the site. Any investors who refuse to sell at fair market value must be made aware that there will be a price to pay for this, and offices in London etc will be no protection from picketing supporters and economic pressure exerted form any avenue possible. There should be however, no ned behaviour like the hounding of BBC reporters, smashing windows at Pacific Quay for example. This needs perfect PR. And no neds. Pre conference 1- Decide on chairman and decide on speakers. You'll need a couple of keynote speakers speaking for half an hour each, and say, 20 speakers speaking for 2 minutes each. The speakers must be representative of the support and include representatives for season ticket holders, supporters clubs and busses, international supporter clubs, websites (of which Gersnet must be one), and board members of the club, if they want to put their point of view across. 2- Decide on format - At start, conference should recap how rangers came to be an omnishambles, and why it is an omnishambles. After this, a keynote address laying out the options for the supporters, and how the conference will progress through the day. Then move onto numerous quick addresses from supporters' representatives, outlining the views of the support. 3- Lunch, then voting. Conference 1- Hire the SECC or EICC. 2- Book a full AV package including projectors, screen, and digital voting system 3- Have prepared motions for conference. These will include: a) Do you agree that today we create one organisation who's authority to speak for all supporters will be granted on achieving 50%+ majority, and the results of any majority votes will be respected and adhered to by the minority? YES/NO b) Do you agree the supporters are the club, and we should own the club? YES/NO c) Do you agree to offer to buy the shares of the current incumbents at fair market value? YES/NO d) If they do not sell out their shares, do you agree to take a course of action which will potentially liquidate the 'company'? YES/NO e) Are you prepared to start again in Division 2 if necessary? YES/NO Vote on all of these and your own crafted (no pun intended) questions. Appoint a permanent 'manager' for your new organisation. he must be of outstanding flawless character, liquid, and without any legal impediments. Appoint a PR person untainted by Scottish nonsense. Try England for a robust PR professional. An attractive woman would be my sexist standpoint here, not some fat guy from Dennistoun. I don't know how to finance PR people, permanent positions, hiring SECC etc - maybe DK could help. Give your angel investors until November1st to provide a viable roadmap to fan ownership. After this it is closed to them and they must come through the fan's organisation in the future. Book SECC/EICC for Jan 31st. 2015. The results must be made available via a press release, and the current shareholder left in NO DOUBT, the consequences of their (in)actions. Note - fair market value should be just above the asset value. The current board will try to manipulate the share price to gain a better position. -
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???
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Rangers has been many things to many people for nearly a century and a half and over much of this time, excellence and aspiration have ranked high in the club's priorities. To be a Rangers supporter was to be a part of a family that had high expectations, an intolerance of mediocrity, an insistence on elite standards and an undying ambition to be the best. The last few years, though, have been a uniquely testing time. Experiencing the team in the lower reaches of Scottish football has been a ghastly experience. After 120 years of winning or coming close to winning the Scottish League, being dumped in the wasteland of the national sport has been more than just humbling: it has been surreal. Finishing top of the third and fourth tiers may have secured promotion, but it went against the grain that these achievements were deemed worthy of celebration. They might be for small clubs, but for a club like Rangers, promotion was a minimum expectation. There's something unsettling about seeing Rangers celebrating the acquisition of minor trophies. Some will argue that every success should be lauded, especially after flirting with finality, but it feels inappropriate: it feels wrong. The nature of the way the team has performed is a sorry tale. Watching Rangers is about as aesthetically pleasing as a long and lingering gaze at the urban monstrosity that is Celtic Park. An uncultured approach to football is now endemic within the club's football department: it knows no other way. Somehow, and it started before Ally McCoist settled in the manager's chair, Rangers has become the epitome of ugly. The vital matter of club ownership is impossible to ignore. Fans have lost trust in the current regime; its plans are vague and unconvincing, it is out of touch with those who fund it and it can't even convince supporters that it genuinely cares. It is in a hole, a very large hole, and it keeps on digging. Rangers is a shadow of what it used to be. In every single area, there are failings, but most worryingly of all, there appears to be no light at the end of the tunnel. The club's financial predicament could mean a slow and painful demise, or perhaps a sudden and quick one. The spectre of doom hovers over Rangers like dark clouds over Arran, and even if the club survives, it may never recover to become a domestic powerhouse again. Fans debate the corporate side endlessly, but expertise in this argument rarely offers hope, a way out or a workable solution. Learned fans offer little more than those who know as much about bean-counting as they do about rocket science. A glaring absence of the means, imagination and knowhow to lead Rangers out of this mess has been the most notable aspect of this entire debacle. The vast Rangers family has been found to be badly wanting. It is staggering that a pillar of the Scottish sporting community could be so easily shaken and undermined, but the collective naivete of the Rangers support never dared to entertain the possibility that the club's existence could one day be threatened. From the fanatical element within the Celtic support to provincial club detestation of Rangers and an ever-open door on Edmiston Drive to rogue ownership, the inevitable consequence was hard times ahead for Rangers, but few saw it coming. In this hostile new era, winning a title or two was only going to be half the battle. There are no heroes in this debacle. From millionaires to ex-players and from ex-directors to ordinary fans, the combined wisdom of the lot of them has amounted to failure after failure and blunder after blunder. The air of immortality that once enveloped Rangers has evaporated. The club has been outed as a zone of incompetence and its cheap talk and soft underbelly have made it an easy target for detractors. There are times, when the mood is dark, when one wonders if Rangers has reached the end of the road. Society has changed, but maybe Rangers has never really changed at all. It gives the appearance of being an anachronism, clinging to a past that it can't let go instead of embracing a future that it never foresaw. Regrettably, there is a hateful and sinister element within the Rangers support. For many years, our press and media told us it was there, but we denied the accusations outright. Now, with many contentious issues to deal with, the vitriol that spews forth from one fan to another is beyond the pale. Anyone trying to lead us out of this mess automatically becomes a hate figure for fundamentalists who believe that they and only they are the true carriers of the Rangers torch. Maybe they are, and maybe that's why the torch is in danger of being extinguished - permanently. Two words have sold a million Scottish newspapers over the years: 'Rangers' and 'crisis'. Finally, we have a crisis worthy of such a dramatic description and we have reacted exactly as our enemies would have wanted. There is too much hate in our hearts to provide constructive solutions to the problems that beset us. Until this is successfully addressed, we will get the club we deserve - if we have a club at all.
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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."
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With Graham Wallace due to meet with a range of fans at NARSA this weekend In Toronto, Gersnet wanted to introduce a bit of fun ahead of proceedings with a business speak bingo card for fans to check off phrases which always appear popular amongst Rangers board members - past and present (though not often actually ever implemented). You can view the bingo card below. First to tweet us with the four corners or a completed line wins a bottle of Château Routas wine which we 'duped' Sir David Murray into sending to us.* Good luck to all! * - The prize will be available on receipt from Castle Grant, near Grantown-on-Spey c/o the Bank of Scotland.
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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
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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
