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Bawsburst on RM hinting at something happening soon with this recently formed company by Laxey pic.twitter.com/Nc8zHXA8Dn So Laxey's Kingsnorth registers a new company called GreenWhiteStar UK PLC. How disgustingly ironic
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http://www.yorkshirepost.co.uk/sport/football/leeds-utd/new-leeds-owners-will-buy-back-elland-road-for-15m-1-6322034 BUYING back Elland Road for around £15m tops the list of priorities for Leeds United’s prospective new owners, the Yorkshire Post has been told. A consortium led by United managing director David Haigh is bidding to buy a 75 per cent stake in the Championship club. The group - which is believed to include Andrew Flowers, the managing director of current shirt sponsors Enterprise Insurance - have signed a share acquisition agreement with GFH Capital, the Dubai-based firm that purchased United from Ken Bates a year ago. Football League approval is now being sought as this buyout would be the second of the club in as many seasons. Providing there are no late hiccups, the Haigh-led consortium is expected to take charge early in the New Year. As revealed in this newspaper yesterday, re-signing former Player of the Year, Max Gradel, in the January transfer window is high on the list of targets for the prospective new owners. However, sources close to Haigh’s group have also made it clear to the Yorkshire Post that buying back Elland Road will be their top priority once at the helm. United’s home was sold to Manchester businessman Jacob Adler for a knockdown £8m price in November, 2004, as mounting debts threatened to drag the club under in its first year outside the Premier League. Ownership passed the following year to Teak Commercial Limited, a firm based in the British Virgin Islands. Included in the initial sale and leaseback deal with Adler - and something retained in the subsequent sale to Teak - was a buyback option that allows the club to purchase the stadium at a set price. That amount rises each October and today stands at £15m. Also subject to a raise of three per cent each October is the rent United pay to Teak, which this year will cost the club £1.4m. Since Elland Road was sold to Adler by the United board that was led by Gerald Krasner, United have paid around £11m in rent. Removing that financial millstone from around United’s neck will, the source close to Haigh’s group insists, be the overriding priority providing the expected takeover goes through early in 2014. Regardless of whether the club’s would-be new owners are successful or not in that quest, United’s tenancy in LS11 is secure thanks to the terms of the 2004 sale and lease-back arrangement - a deal in which the owner of a large asset, such as property, sells it and then immediately buys back from the buyer the right to use the asset under a lease for a fixed term at a pre-arranged rent. In United’s case, that agreement was for a 25-year lease that, once at an end in 2029, can be extended by a further quarter of a century. This means Leeds’ future at Elland Road is safe for at least the next 41 years. Haigh and his fellow would-be investors, however, are well aware that buying back the ground would be the clearest signal yet to supporters that the club is moving in the right direction. If they are successful in that quest, it will be the second time in a generation that United will have bought back their home thanks to improving financial fortunes. The first instance came in 1998 when Peter Ridsdale’s board paid £10m to Leeds City Council for the stadium, which along with the surrounding land had been sold 13 years earlier to the local authority for a quarter of that sum. Crippling debts of around £1.5m had forced the 1985 sale on the club. History then repeated itself in 2004, though by then the sums involved had multiplied dramatically. Krasner’s board had taken over Leeds in March of that year but relegation just a couple of months later hit United very hard. A fire-sale of players such as Alan Smith and Mark Viduka during that summer bought the club respite for a time but by the early months of the 2004-05 campaign it was clear Leeds were still in the financial mire. Debts that had, at one stage, stood north of £100m when the takeover went through had been slashed to around £25m. However, punishing repayments to Jack Petchey, a London-born businessman who had once been chairman of Watford and an Aston Villa shareholder, for a £15m loan taken out by Krasner and his fellow directors when buying the club had started to bite. After negotiations with a number of parties that included Sebastien Sainsbury and local businessman Norman Stubbs floundered, the United board was left with no option but to sell the club’s only two remaining assets of substance - Elland Road and Thorp Arch, the latter’s sale raising £4.2m. Once the two sales were concluded, the remaining debt of £9.2m to Petchey was cleared. United’s financial woes continued, however, and the club was subsequently sold to Bates the following January. At his first press conference, the former Chelsea chairman said: “It is our intention, in the fullness of time, to exercise those options and bring the land and stadium back where they belong.” Scarcity of funds, though, meant those wishes went unfulfilled with a bid to buyback Thorp Arch floundering at the 11th hour in 2009. Similar sentiments about purcahasing Elland Road were expressed by GFH Capital following their December 21 takeover last year but, again, nothing concrete came of the plans.
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Alasdair Lamont @BBCAlLamont 33m Rangers chief exec Graham Wallace on £320k pa + 100% bonus. Plus £25k salary increase as Rangers move up leagues. More to follow.
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The Union - an umbrella group comprising six supporters' organisations - had been urging Gers followers to withhold season ticket cash. A company, Ibrox 1972 Ltd, has been set up with South Africa-based businessman Dave King and legendary captain Richard Gough as directors. The Union wanted the club to grant them security over both Ibrox Stadium and Murray Park training ground in return for the money. Wallace admitted last Friday that season ticket renewals had been slow and fears have also been expressed by some about the future of the club. But representatives from the organisation met with Wallace, non-executive director Norman Crighton and major shareholder Sandy Easdale. And Wallace, who has stated in the past that security will not be granted, told them the club could be prepared to give them a legally binding guarantee over Ibrox. However, the Union asked for an identical agreement over the club training ground at Murray Park and the club officials agreed to look into that possibility. But the talks were a huge step towards the bitter stand-off between fans and the club being brought to an end. A Union of Fans statement released on Wednesday night read: "Following a number of attempts for several weeks to arrange a meeting with chief executive Graham Wallace to discuss our proposals for security over Ibrox and Murray Park, the Union of Fans were invited by Mr Wallace to discuss this and other issues at a meeting at Ibrox. "Representatives of the Union of Fans met with Mr Wallace, non-executive director Norman Crighton and Sandy Easdale. "A proposal was made by Mr Wallace that, whilst the board would not grant a security, they could consider giving a legally binding undertaking which would protect Ibrox from sale, sale and leaseback or as any form of security for a loan or other finance. "We made it clear to Mr Wallace that we felt it was also appropriate that they provide the same undertaking for Murray Park. "Mr Wallace and Mr Crighton agreed to discuss this with the rest of the PLC board as a matter or urgency and further discussions between the PLC board and the Union of Fans will continue once this board meeting has taken place. "We believe we accurately conveyed the fears of supporters that either or both of these club assets could be lost to the club in a scenario where they were used for any sale and leaseback or other loan security. "Any proposal by the board will be evaluated by our lawyers and a decision will then be taken on how to move forward. We will keep fans full informed as discussions continue." Rangers did not comment on the meeting. GET RANGERS NEWS ALERTS BY EMAIL
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AT one point during a highly unsatisfactory and short-lived reign as Rangers chairman an increasingly exasperated Walter Smith made an observation to the directors of the club’s PLC board. It went something along the lines of: “I’ve lost more votes inside this f****** boardroom than I ever lost games out there on that pitch.” It was Smith’s way of saying he had reached the end of his tether. An admission the board over which he presided for little more than two months was dysfunctional beyond repair. But there was a deeper issue which troubled Smith to such an extent he felt compelled to do walking away. He had come to realise that, no matter what changes were made to the personnel around that table – even if there was a day when they all sing from the same hymn sheet – ultimately their voices would not be heard. It had become clear the board of the Rangers International Football Club PLC was not calling the shots inside Ibrox. Rather it was those who made up the so-called “football board” who were really in charge. This all-powerful football board is also known as Rangers FC Ltd. It was previously known as Sevco Scotland. Over two years it has been home to many a colourful character, including Charles Green, Imran Ahmad, Brian Stockbridge and more latterly, current chairman Sandy Easdale. Of them all, only Easdale has not sat on both boards. Then again brother James has been keeping that seat warm. Smith’s frustration with this entity became overwhelming. It’s understood even basic requests to see details of commercial contracts signed on the club’s behalf were repeatedly turned down flat. In other words it does what it wants. So perhaps what has gone on over the past few days inside Ibrox – as yet more splits and schisms have emerged – should come as no surprise at all. Last week, as season-ticket renewals continued to splutter along at an alarmingly slow rate, PLC chief executive Graham Wallace reached out to supporters groups with an olive branch. He invited them for peace talks knowing supporters wanted assurances neither Ibrox nor Murray Park would be pawned off to stop the club from plunging into a financial abyss. These discussions – which involved Wallace, Sandy Easdale and Norman Crighton – have backfired quite spectacularly. Blown to pieces by the obligatory bombardment of statement and counter statement. Claim and angry counter claim. A statement was issued by Rangers on Saturday which more or less accused their own fans of telling lies. As PR strategies go this might have left Gerald Ratner shaking his head in disbelief at its sheer crassness and stupidity. It read: “In some of our discussions with fans it was indicated that there was a wish for the board to confirm that our statement of intention not to grant security over Ibrox could become a commitment that would last for 12 months. “This has subsequently been discussed by the board and the board confirms that it will not be seeking to effect a sale and leaseback or grant security over Ibrox during that period of time.” While the inclusion of the words “over that period of time” will have raised more than a few eyebrows it was the complete omission of Murray Park which ought to worry the fans most of all. It now seems even more likely the club’s £14million training ground will be used to raise funds and keep this basket case of a club afloat. The statement said: “Whilst the board is reported to have offered legally binding undertakings during a fan group discussion in relation to Ibrox and Murray Park, this is not the case.” Late last night, bang on statement o’clock, the fan groups hit back by issuing their own withering media release. This one can also be filled in the box marked “Liar, Liar, Liar”. The Union of Fans insist it was Wallace’s proposal to offer up legally binding assurances Ibrox would not be flogged off as part of a sale and leaseback agreement or used as security against a cash loan. And the statement said: “Given what Mr Wallace proposed regarding Ibrox, we asked that the same arrangement be put in place to safeguard Murray Park 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, May 15.” The upshot of it all is those running Rangers now appear to be at war with those who claim to represent their supporters. At a time when the club needs season-ticket money urgently just to make it through the summer. And then there is Wallace, who now finds himself in the firing line of supporters and fellow directors alike. He has angered Easdale by trying to broker some sort of conciliatory agreement with the fans. And he has infuriated the supporters by failing to deliver on the deal. The CEO has already survived a whole series of hairy moments during his own short time at the club. Some of them ought to have been resignation issues. But if Wallace really has now lost the trust of the man at the top of the “football board” then it may only be a matter of time until he follows Smith out of that boardroom for good. http://www.dailyrecord.co.uk/sport/football/football-news/keith-jackson-graham-wallace-borrowed-3568105?utm_source=twitterfeed&utm_medium=twitter
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“If you’re prepared to accept mediocrity because our owners are greedy fair enough. Me, I intend to do everything I can to root them out.” A quote from Gunslinger. So what are we doing as a support to root out the directors? I believe the answer is “Not a lot”. Let’s look at the two lots of people a majority of the fans want rid of – the Shareholders and the Directors. 1. The Shareholders There are 2 main ways that the shareholders can get to go or to lose control: a) Someone buys their shares – there is currently nobody who wants to buy their shares. Dave King has said he won’t do it. There are 2 fans’ vehicles for purchasing shares, both of whom are a long way away from getting enough cash to make a meaningful investment. They also both have the dilemma of raising cash and then deciding whether to use the cash to pay existing shareholders and therefore not a penny goes to the club, as happened recently with BuyRangers, or wait until there’s a share issue at some future point. They also run the risk of their shareholding being diluted. Let’s say they get 1% of the shares and then there’s a rights issue. They could find that their 1% has been reduced to 0.5% or even lower. Perhaps it needs yet another calamity like an administration to change the mindsets of the fans to fan ownership as they have consistently shown that a vast majority are not there yet. b) There’s a share issue of some sort, which dilutes their control in the way mentioned above. However what happens if they are the ones to put in the cash? They could increase their shareholding percentage. Dave King has said that he would be willing to invest, but only under certain circumstances. Are the current shareholders likely to structure an issue that sees them losing control to King? Very unlikely. Is King willing to invest that level of cash and not have a level of control? Very Unlikely. All of King’s actions seem to be aimed towards trying to force the existing shareholders and directors out without him having to spend any cash in doing so. He has built up a degree of animosity between him and the board and as such he has made it less likely that the board will turn round and make it easy for him to get control. The existing shareholders generally want an exit strategy and nobody is offering them one and they aren’t going to effectively have their shareholding become worthless. 2. The Directors Most Rangers fans are not impressed by the current Board, but nobody has offered any alternative since the Paul Murray faction got voted down at the AGM. Nobody has set out any level of vision for the future and King suffers from this criticism more than most. He has not set out detailed plans or any level of alternative. King set up his Ibrox 1972 Ltd company, asking for the club to give it security over its biggest assets. Does anyone seriously expect a quoted PLC to give security of its main assets to a third party company that apparently doesn’t have a season ticket holder or Rangers shareholder on its board or as a shareholder? There is no connection between this company and the club. As it stands, there’s no connection between the ownership and control of Ibrox 1972 Ltd and the support either. It’s almost as if King has come up with a vehicle that makes it impossible for the club to grant security, not that they would do it anyway. Perhaps that’s what King is hoping for? Many fans are not buying season tickets, partly due their opposition to the board and partly due to the fare on the park. For the fans who fall into the former category, is them withholding season ticket cash really going to chase out the directors? I really don’t think so. Why should it? Are the really just going to resign and walk away or are they going to carry on running the company in whatever financial situation it Is in? I would argue that it is the latter and they will continue run the club as best they can, with the lower income and therefore lower quality on the park. Many are there to do a job (presumably to the best of their ability) and less season tickets makes it more challenging but it is not a reason for them to resign from their job. Are the shareholders going to insist on a change of board due to lower season tickets? Unlikely, given that the gave the directors a vote of confidence at the AGM even after the club had spent the £22m from the share issue in 9 months. If they still retain the shareholders’ support after that then season ticket holder revolt isn’t going to make much difference. There is also the situation where Sandy Easdale controls the votes of over 26% of the shares and it means that he only needs 24% of other shares to get his way in most matters. The fans who are not renewing their season tickets have my admiration for the sacrifice that they are making and I understand their frustration as they want to do something and not renewing is something. However it doesn’t mean that what they are doing will result in a change or will make any difference to the positions of the directors. Even if the season ticket boycott did force a change in directors, would it change the overall way that the club is being run? Again, very unlikely. So what is the best hope for a change? We can only hope that Dave King has a change in heart and does decide to buy out the existing shareholders because otherwise I just don’t see a way out of this mess as we fans appear to be powerless against shareholders and directors who have no interest in engaging with the support and taking actions to keep them onside.
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........No it's time for Dave King to step up and pay. KEITH believes it's time for Ibrox investor King to put his money where his mouth is with the club's Murray Park training ground under threat. IF Dave King is serious about rescuing Rangers then he had better get a move on. In fact, come to think of it, he may have procrastinated too long already because this basket case of a business is staring its next disaster dead in the eye. Very soon someone will have to blink and before you know it this club could find itself minus a training ground if it’s not careful. In five days from now the curtain will come down on season ticket renewals and when it does, bedraggled chief executive Graham Wallace might as well sound the emergency klaxon because unless there is a late stampede between now and Friday, Rangers will be right back on the brink. Raising money against Murray Park might then become almost inevitable, assuming insolvency is to be avoided as Wallace so bullishly insists it will be. It was interesting to note that the current board made no comment at all about the security of their Auchenhowie HQ when categorising Ibrox as ‘sacrosanct’ the other day. The truth is Wallace was busy discussing the merits or otherwise of raising funds against Murray Park with former financial director Brian Stockbridge at the turn of the year. Stockbridge wanted to push the button back then but Wallace at least had enough sense to resist. However, Wallace also made it clear that such a scenario might need to be revisited at a later date and if the season ticket revenue really is about to be obliterated then that date might well be now. Also, given the enormous scale of Rangers financial requirements, there would seem little point in simply raising a couple of million quid in the form a secured loan – like the deal Wallace brokered with those nice hedge fund folk from Laxey Partners just to keep the floodlights on till the end of winter. A full-blown sale and leaseback would certainly bring in significantly more money but at what price to a club which continues to be robbed of its soul from the inside? Which brings us back to the man who would be King and his plotting in South Africa. King has lent his name to the Union of Fans’ plan to starve the club of its biggest single source of revenue but he’s done so from a distance, almost half-heartedly, while this club’s supporters have been busy whipping themselves up into a state of high doh. That King did not attend the launch of this scheme in person, nor even make sure that his recently- recruited wingman Richard Gough was there to deputise, sent out more muddled messages to these fans who want nothing more than a leader in whom they can place their trust along with their cash. But then this is the Rangers civil war we are talking about. If there is a way to mishandle public relations then you can bet your last blue pound someone in this abomination will find it – even though you can barely move for gurus spinning furiously for one camp or the other. King says his attempted coup is not in any way reliant on public opinion, which is probably just as well because he hasn’t done enough to win over the rump of the fans. The vast majority want to believe in him but need to see tangible proof of his intentions. If Friday’s final tally of sold season tickets is as low as many are predicting then this will be an indication of how little these fans trust the characters inside their own boardroom rather than a show of faith in the man who wishes to topple them. It would also leave the board with a couple of options – selling off the family silver or engage immediately with King, who is ready to talk. So far, King has done nothing much more than kick up a stink by issuing sporadic flurries of statements, most of which have told us nothing we did not already know. He has been heavy on promises – talking boldly of blowing £30million worth of his children’s inheritance – but feathery light on substance. So if he is serious about acting – and for the record I’m sure he is – then right about now would seem like an appropriate moment for him to start digging deep. King has made clear his reluctance to line the pockets of the very shareholders he blames for making such a mess of the club. While this is an admirable position, the more time passes, the less realistic it appears. And all the while, Rangers fans are wrestling with their own consciences and fretting over whether or not to hold their club to ransom. King could remove all that confusion and guilt from their shoulders at a stroke by ploughing some of his own millions into the very account that has been set up for their season ticket cash. If those who run the club will not accept his money then why would any individual feel the least bit bad about hanging on to their own £400? Better still though, King should rethink his strategy and find out exactly how much it would cost to make those shadowy investors lurking behind the likes of Margarita Blue Pitch Holdings and Margarita disappear once and for all. Ultimately, this is what will be required if Rangers are ever to be properly ‘cleansed’ and now Friday’s iceberg is approaching, maybe those lucky enough to have stuffed their pockets with penny shares might realise it’s time to abandon ship. Even if they sold now for as little as 20p a share they’d still make mind-boggling returns on their investments. The thought of making them rich might make King’s skin crawl but, even so, this would seem like a price worth paying. He could always ask Fergus McCann who had to perform a similar U-turn when bringing down the Kelly and White dynasty across the city. A deal could even be structured that would allow King to be given some of the money back, much like the £2.5m Ann Budge has just had to pony up to make sure Hearts are a Lithuanian-free zone. King could do any of the above and instantly cement his status as a genuine hero among the club’s rank and file. The longer he waits though the more time is running out for his club.
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Im glad he is employed so he doesn't make the available list for future Rangers manager. Worst Scotland manager of all time! Even though Locke wasn't great and Im no fan it does seem a bit harsh on him. Sounds a bit like 'thanks for getting us through the season when nobody else would but jog on"
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https://twitter.com/BBCAlLamont/status/465794873812353024/photo/1
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Wallace about to come under greater scrutiny re assets. Also, his man Tyrrell speaking to BBC behind McCoist's back. Today's Sun back page a deliberate attempt by sports editor Ian king - been called by Wallace - to discredit McCoist. Hardly subtle Ian. Put on twitter by someone who has been very insightful recently.
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Backed by Dave King, Richard Gough and the Union Of Fans https://www.ibrox1972.co.uk/
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“We note the latest attempt by this board to mislead and hold Rangers fans to ransom. Their latest “give us your money or the seat gets it” ultimatum is just another in a long line of misjudgements this board has made about the mood amongst the support in general. The fact that those now in the crosshairs of this board are a lifelong Rangers fan who has ploughed millions of his own money into the club with no return, an iconic captain from one of the club’s most successful ever periods and a group of Rangers fans attempting to secure the home of our football club, says more about this board than we ever could. There is no attempt to deprive the club of funds. This is made very clear in the security proposal and the board’s ham fisted attempt to misrepresent this is one of the few transparent things they have done since coming to power. No money will be taken from fans unless security is granted and we are of the opinion that the board’s reluctance to discuss granting security may well rapidly change. Our public comments about Mr Wallace are not personal but have been based on his binding pronouncements on matters of huge importance which have been at best misleading, broken promises for engagement with fans, attempts to blame fans for the current precarious position of the club and a complete lack of any progress in bringing much needed investment into the club. We welcome the fact that the entire board have now publicly taken responsibility for all of these actions. Once again we see meaningless sound bites with absolutely no substance to back them up. The result, no doubt, of the expensive PR man hired by this board with more urgency than a Chief Scout. What “significant progress” has been made? How will this “bright future” we are promised come about when the investment committee have failed to secure a single pound of investment? Rangers is certainly “dear to all of us”, the Rangers support. We have no idea why this board would attempt to claim the same when there is not a single fan amongst them. We do not believe that Rangers fans will fall for this again. We’ve seen it far too many times in the past two years. “ - See more at: https://www.ibrox1972.co.uk/statements/#sthash.5zQnzija.oJfk0OFG.dpuf
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Richard The Lionheart And Balls Of Steel From The Board Richard-Gough The team that drinks together wins together. A legendary quote attributed to Richard Gough which the former Rangers captain assured me today he didn’t actually say. Gough phoned me to respond to my Balls Of Steel blog and to defend his own part in the Ibrox1972 venture, which I have called a bootleg Rangers.I have to be honest and say that Goughie left me in absolutely no doubt that his intentions are sincere and that he is doing what he is doing for the benefit of Rangers. During our conversation he kept stressing his dismay that the supporters were so divided and it was refreshing to engage with someone in the anti-board camp who is free of the bitterness that is spouted by reb ringleaders. Gough did not at any time during our lengthy conversation say anything derogatory about Rangers directors; in fact, he stressed he was sure that they had Rangers’ interests at heart. I got the impression that his concerns were more about what has taken place over the past three years and the present board’s ability to deal with this than any supposed “****very” in the boardroom. What we both agreed on was that we wanted to see more positive action from the board in response to the club’s present condition. Goughie admitted to me that he wished he had said more in the past, particularly about the Craig Whyte fiasco but agreed with me that many of us were taken in by Whyte because we wanted to believe. As he has said elsewhere, the big man did not hesitate to respond to Dave King’s request that he put his name and reputation behind the season ticket fund. He admits he had no idea what he was getting into or he may have given it a body swerve but with the same steel he displayed as a player and the decision-making that brought him fame and renown as a world-class defender, he said “No, the truth is I had to do it because I felt it had to be done. I just want what’s best for Rangers Football Club.” I again have to be fair and say that it was refreshing to hear Goughie reiterate that fans who want to renew with the club should do so. He claimed that Dave King was just trying to give fans some security as Admin 2 was a real possibility. Cynics may see more to King’s motives than a benevolent interest in fans’ monies and that his actions were designed to bring about Admin rather than avert it. His personal advice, he says, would be for anyone unsure of whether to renew or pledge to Ibrox1972 would be to withhold money from both and pay on a game-to-game basis. I have to say that big Goughie is not a devious person anyway and he is undoubtedly sincere in his concerns and intentions. He is also honest about his own naivety and lack of expertise in the greyer areas of the project he and King are embarked upon. He is not a schemer or a wheeler dealer but I agreed with his summary of things. “Ultimately it will all be decided at shareholder level,” said Gough. As I pointed out, King knows this only too well and his use of fan power is designed to exert leverage on the shareholders. Richard Gough doesn’t seem to share the militancy that King and his UoF supporters have in getting fans to join the fund. His attitude is that it is up to fans to decide. Domiciled abroad, Gough is unsurprisingly out of touch with the mood of fans, especially since David Murray left the scene. But, as I have said previously, he deserves a say in matters Rangers. I don’t agree with his involvement in the Ibrox1972 project. However, I defend his right to have it and appreciate the sincerity of his motives. I also admire his sticking his head above the parapet. As Gough himself says, “When this thing is over, regardless of who wins, there will be people jumping on board the victory train. At least I threw my hat into the ring knowing it wouldn’t be popular with everybody.” One thing Goughie and I agreed upon was the need for positive action from the Rangers board. He alluded to my Balls of Steel blog. Just after our discussion I saw the statement by the Rangers board which was exactly what I called for in yesterday’s blog.
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http://www.thecoplandroad.org/2014/05/dave-king-time-to-step-up-and-pay.html?spref=tw
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BRAZILIAN centre back Cribari has asked Ibrox chiefs for a new deal despite only three starts in League One this season as his generous £7000 a week contract expires. RANGERS’ £7,000-a-week Brazilian misfit Emilson Cribari last night revealed he wants a new deal. Manager Ally McCoist this week finally met chief executive Graham Wallace to thrash out his budget for next term’s Championship campaign. The Gers gaffer has insisted he will hold talks with his five out-of-contract players first before bringing in any new signings. Former Lazio stopper Cribari, right, is one of those out of contract and it had been widely believed he was set to leave Glasgow after two years at Ibrox. The 34-year-old has made just three starts all season for the runaway League One champions and his appearance as a late sub last week against Stranraer was expected to be his Ibrox swansong. But the former Napoli and Udinese Serie A defender has claimed to be in talks to land a shock new deal. And he insists he could not have been happier with how things have gone in Glasgow. Cribari said: “It has been an amazing experience at Rangers. “I’ve experienced everything in a different way and explored a new culture. “The fans have always been with us. I want to stay at Rangers. I am out of contract but I’ll talk to the club about a new one. “Glasgow is a great football city and I have enjoyed my time here.” Cribari landed the bumper contract two years ago when he was snapped up from Cruzeiro on a two-year deal. And it would be a major surprise if he was offered a new deal, even on vastly reduced terms. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-misfit-emilson-cribari-targets-3490116 -
@Martin1Williams: Sons of Struth to hand out red cards to allow #Rangers fans to protest against the board & their business review at Dunfermline
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Hey folks! Here is the Gersnet match preview writing schedule for forthcoming games. As always, the match previews will be done by volunteers on a first come, first served basis, so shout out if you fancy writing a preview for a certain match and we'll put your name down for it !! _____________________________________________________________ Completed fixtures Aug 3 - Forfar v Rangers - League Cup Round one - Zappa (done) Aug 10 - Rangers v Brechin - League 1 - Frankie (done) Aug 17 - Stranraer v Rangers - League 1 - 26th of Foot (done) Aug 23 - Airdrieonians v Rangers - League 1 - amms (done) Aug 27 - Rangers v Berwick Rangers - Ramsdens Cup R2 - BrahimHemdani (done) Aug 31 - Rangers v East Fife - League 1 - Zappa (done) Sept 14 - Rangers v Arbroath - League 1 - 26th of foot (done) Sept 17 - Queen of the South v Rangers - Ramsdens Cup QF - stewarty (done) Sept 22 - Forfar Athletic v Rangers - League 1 - andy steel (done) Sept 28 - Rangers v Stenhousemuir - League 1 - Crawford01 (done) Oct 06 - Ayr United v Rangers - League 1 - amms (done) Oct 19 - Brechin City v Rangers - League 1 - Pete (done) Oct 26 - East Fife v Rangers - League 1 - 26th of foot (done) Oct 29 - Stenhousemuir v Rangers - Ramsdens Cup SF - the gunslinger (done) Nov 01 - Rangers v Airdrieonians - Scottish Cup R3 - Zappa (done) Nov 06 - Rangers v Dunfermline - League 1 - Frankie (done) Nov 09 - Rangers v Airdrieonians - League 1 - Juancornetto (done) Nov 25 - Arbroath v Rangers - League 1 - Pete (done) Nov 30 - Falkirk v Rangers - Scottish Cup R4 - Super_Ally (not done) Dec 03 - Rangers v Forfar Athletic - League 1 - amms (done) Dec 07 - Rangers v Ayr United - League 1 - Juancornetto (done) Dec 14 - Stenhousemuir v Rangers (postponed) - League 1 - andy steel (done) Dec 26 - Rangers v Stranraer - League 1 - Nobody (not done) Dec 30 - Dunfermline v Rangers - League 1 - calscot (done) Jan 02 - Airdrieonians v Rangers - League 1 - Pete (done) Jan 05 - Stenhousemuir v Rangers - League 1 - Nobody (done by Pete) Jan 11 - Rangers v East Fife - League 1 - 26th of foot (done) Jan 20 - Forfar Athletic v Rangers - League 1 - ranger_syntax (done) Jan 25 - Rangers v Arbroath - League 1 - Juancornetto (done) Feb 01 - Rangers v Brechin City - League 1 - Zappa (done) Feb 07 - Rangers v Dunfermline - Scottish Cup R5 - ian1964 (done) Feb 15 - Ayr United v Rangers - League 1 - Frankie (done) Feb 22 - Rangers v Stenhousemuir - League 1 - amms (done) Feb 25 - Stranraer v Rangers - League 1 - bluebear54 (done) Mar 01 - East Fife v Rangers - League 1 - Pete (done) Mar 09 - Rangers v Albion Rovers - Scottish Cup QF - Juancornetto (done) Mar 12 - Rangers v Airdrieonians - League 1 - Nobody (done by Andy Steel) Mar 15 - Rangers v Dunfermline - League 1 - 26th of foot (done) Mar 17 - Albion Rovers v Rangers - Scottish Cup QF replay - Juancornetto (done) Mar 23 - Brechin City v Rangers - League 1 - stewarty (done) Mar 29 - Arbroath v Rangers - League 1 - BrahimHemdani (done) Apr 06 - Rangers v Raith Rovers - Ramsdens Cup Final - the gunslinger (done) Apr 12 - Rangers v Dundee United - Scottish Cup SF - Juancornetto (done) _____________________________________________________________ Upcoming fixtures: Apr 15 - Rangers v Forfar Athletic - League 1 - Zappa Apr 19 - Stenhousemuir v Rangers - League 1 - ??? Apr 22 - Rangers v Ayr United - League 1 - pete Apr 26 - Rangers v Stranraer - League 1 - ??? May 03 - Dunfermline v Rangers - League 1 - ??? -
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Long article and rambling open letter on DR website RE: investor Alan MacKenzie and Dave King http://www.dailyrecord.co.uk/sport/football/football-news/rangers-investor-urges-dave-king-3482599?utm_source=twitterfeed&utm_medium=twitter -
Firstly allow me to clarify something – the content of this blog and the information shared is done so with the express permission of the Union of Fans – following a full and frank discussion between myself and Chris Graham. Those who are interested in the finer details and legal aspects of the Season Ticket Trust are probably going to be disappointed; any queries you have will have to wait until the ST Trust website is up and operational. What I did ask however was this: If the board acquiesce to UOF demands who will then hold first charge/security on the stadium rights to our club ? The answer, as many undoubtedly suspected, is Dave King and Richard Gough, under the auspice of Dave King’s new company, Ibrox 1972 Ltd. Quite simply as far as The UOF are concerned it all boils down to a question of trust, and they trust King more, far more, than they do the current board. It is all hypothetical of course, dependent on their scheme being successful, the Rangers board acquiescing to their demands and relinquishing the security for both stadium and Auchenhowie. Many will have realised by now this would mean handing over the security of our club’s 2 biggest assets to 2 men who currently are not even shareholders in our club. They will not be accountable to the board or to shareholders, which at least in theory, is the current status quo. I hope for the sake of our club, should this scenario ever come to fruition, that the UOF have exercised sound judgement in their assessment of Dave King, otherwise it will qualify as a blunder on a scale of magnitude with the ill-fated Men of Troy. As the current board and King, with their respective aide-de-camps, battle vigorously for not only our hearts and minds, but also our season ticket monies, the whole debate has become extremely polarised, the language and tone war like, with little opportunity for either constructive or conciliatory dialogue. The problem is however that the dominant voices in the debate do not necessarily reflect the feelings of our support. Keith Jackson touched on this last week in an article when he referred to the silent majority of the Rangers support – the ones who have no interest in off-field politics and whose sole interest is turning up each week to see the Rangers. Furthermore the polarisation of the situation and debate fails to take cognisance of fans who have no confidence in the current board but who are equally unenamoured by Dave King. Rather than choose between the two best prospective candidates it is more akin to choosing the lesser of 2 evils. A particularly sad indictment of where we currently are as a club. To date, the considerable failings of governance by our current board which I highlighted in a previous blog, remain unresolved. In particular the veracity of the 120 day review remains under question as a consequence of claims by the Daily Record regarding the withdrawal of credit and debit card provision. Before we file these claims as the ranting of a “Rangers hating rhag” perhaps we should check the filing cabinet – look under “BBC & Craig Whyte”. I can only re-iterate the warning of a previous blog – we cannot afford to make the same mistakes of the past. A few have commented on the madness of the situation facing us as a support. With trepidation, and a tinge of embarrassment, I quote from Dan Brown’s book Inferno, “Madness breeds madness” The Rangers support should bookmark this moment in time, with its paucity of choice, for a future date, when next we sit down with any conviction to consider the merits of fan ownership.
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"The Union of Fans is absolutely appalled by Graham Wallace’s business review and revelations over the weekend regarding Mr Wallace’s alleged behaviour and that of this board. Given the serious nature of the allegations, we expect David Somers, in his role as chairman, to suspend Mr Wallace until these investigations are complete. It is our firm belief that shareholders have been misled. First of all we would like to address the London Stock Exchange statement, and Mr Wallace’s subsequent comments in his press conference, which attempted to lay the blame for the withdrawal of credit and debit card facilities at the door of UoF and Dave King. We are aware that FirstData, the payment processing company, first alerted Mr Wallace to the need for security for these facilities on 23rd January of this year, a full month before Dave King and the Union of Fans spoke about the idea of a season ticket trust. FirstData clearly communicated that this was due to the shocking financial results released in December and Mr Wallace’s attempt on the 16th January, just four working days before FirstData raised the issue, to get the players to take a wage cut. FirstData did not at that time raise any issues with a possible decline in season ticket sales as being a reason for the need for security. Once again we have seen a Rangers board attempt to deflect the blame for their own incompetence onto fans who only want the best for the club. Even more seriously, this is a blatant attempt to mislead shareholders as to the underlying reasons for the club’s inability to provide these facilities. As if this was not bad enough, we now find out that Mr Wallace has been reported to police over his comments at the AGM about the club’s financial position. We have consistently stated that his AGM undertaking that the club had sufficient funds was false and nothing that has happened since has shaken us from that belief. We are not surprised that his consistent refusal to address this issue has led to angry shareholders taking this action and we hope there will be a full and thorough investigation. Mr Wallace’s ‘120 day’ review could have been written by any Rangers fan before Mr Wallace even took up his position. It is full of vague promises for the future which read like a wish list from a fans forum. Whilst much of the content in terms of football progress is certainly desirable, there is a complete lack of any detail as to how this board can achieve it. They have provided no evidence that they can raise the necessary funds to take the club forward and we have no confidence in them to do so. We note Mr Wallace’s criticism of previous boards. James Easdale sat on the previous board from July of last year. Is he now going to be removed for his part in this financial mismanagement? Sandy Easdale became a de facto member of the previous board in September last year and has clearly had unprecedented and unjustifiable access to the PLC’s financial details since. His public statements just prior to the review showed that he has access to information he should not, were share price sensitive and showed the utter lack of corporate governance being enforced by Mr Somers in his role as chairman. It is time for Mr Somers, our absent chairman, to step forward and clear up this mess. He must explain why his CEO, Mr Wallace, misled shareholders. He must suspend Mr Wallace pending the conclusion of police investigations. He must deal with the serious questions over Sandy Easdale’s role and why he is being treated like a privileged PLC board member when he is simply a minority shareholder with undue influence. He should also inform shareholders and fans whether the board as a whole was aware that the reason given to the London Stock Exchange for the need for security to obtain credit and debit card facilities was misleading. He is responsible for the total lack of corporate governance on this board and must act now or his own reputation with be irrevocably damaged. This board is a disgrace to Rangers Football Club and the current members of it are running our club into the ground whilst simultaneously making a mockery of the positions they are privileged to hold." http://www.unionoffans.org/statements/2014/4/27/uof-statement-270414
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I’m going to start this blog with a warning – We must ensure, for the future of our club, that we do not repeat the mistakes of the past. I say that because it is important we focus on the facts and not the personalities involved. There is a considerable amount of information circulating at the moment and it’s vital we scrutinise it in a totally objective manner. Not only because it is the right thing to do – but because the future of our club may depend on our ability to sort the wheat from the chaff. The Union of Fans only have themselves to blame to an extent, that their anti-board message has not been widely accepted by all. Their insistence on being so deliberately confrontational with our current board, as well as their sometimes puerile rhetoric, may go down well with those already in their camp but it doesn’t necessarily resonate with all the support. As I’ve written previously, when the man you are openly supporting suggests some are “looking for a fight” it’s surely worthy of re-assessing how you are coming across to people. It’s a real pity the debate has become so polarised. There is almost a sense that you are either pro or anti-board. I’m aware of a supporter yesterday who was threatened for refusing to chant “sack the board”. – a sad indication of the state of play. The reality of course is that for every pro or anti board supporter there are probably many more of us who are utterly confused, worried and trying to get to grips with facts amongst a deluge of propaganda. It’s important that those in our support who are against Dave King, for whatever reason, still realise they have a responsibility in holding the current board to account, and reticence of the possible alternative does not mean we ignore unacceptable standards from those currently in power. And just why should our current board be viewed with suspicion and be subject to challenge ? Well for starters we have employed a new PR Guru. Such an appointment baffled many within our support, particularly with the crying need for a chief scout. One is left to ponder what our board’s priorities are for our club. We have a non-executive director, Sandy Easdale giving interviews to the BBC where he suggests intimate knowledge of financial matters pertaining to the club. This should raise serious questions about the level of governance at boardroom level. From the CEO’s review we have learned that contracts were signed off by the previous board without any legal representation on behalf of the club. Quite simply that is nothing short of scandalous. Do the current board intend to investigate these matters and retrospectively pursue those responsible ? As many us are learning to our angst, the ability to renew season tickets by Credit or Debit Card is no longer available due to the merchant, 1st Data, requiring what is viewed as an unreasonable level of security for such a privilege. The CEO’s review states : “The Board believes that one of the major factors influencing the merchant acquirer to change its terms was the extensive negative coverage of calls in some quarters for supporters to refrain or delay purchasing season tickets. “ The Union of Fans have denied this and their denials have been supported by a National newspaper which claims it has viewed correspondence which suggests this is not the reason for the increased levels of guarantee. The ball is now in the board’s court. The integrity and veracity of both the board and the review has been challenged by a national newspaper – it is up to the board to instruct 1st Data to clarify the reasons behind the additional security requests. Quite simply if the board fail to take action over such a critical point then they have failed both themselves and the Rangers supporters who were patient enough to wait for the 120 day review. We must not let personal feelings or personal dislikes affect our ability to exercise vigilance or judgement. It’s a luxury not only we cannot afford, but more importantly, our club cannot afford.
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In response to a number of threads which kinda veer into polarised positions, I'd like to set out why I think the running of our club is in the wrong hands at present. I avoid calling them 'the board' because it's hard to remember who is actually on which board at the moment, who is responsible for what and who gets to lock the safe, so to speak. That in itself is a criticism of those at the top & I haven't even started! The two people who are most often seen & heard as our main people are Sandy Easdale & Graham Wallace. To begin with Mr Easdale: he's had a struggle to be accepted, since he came with baggage. I would be the last person to insist that to be a Rangers fan or official you need to sign up to the whole manifesto of beliefs. But when it comes to blazers, I do feel that 'not having been to jail to VAT fraud' is a broadly non-controversial opening qualification. This raises the philosophical debate about whether jail is for punishment or rehabilitation: as a lapsed socialist I see it more as the first than the second, since those who are there tend to have harmed society and, bluntly, society deserves to get a kick back. Even, however, if you lean toward rehabilitation, does Mr Easdale strike you as rehabilitated? The world of West Scotland's bus garages may not sound like the sort of place to find Sonny Corleone tied to a chair, but neither is it a clear, visible symbol of someone having learnt a hard lesson and overtly trying to do better. You could liken it to a pimp who is jailed, does his time and buys a strip club; not criminal, but not much use in persuading folk you are a reformed character. All this is speculation and could - who knows? - be most unfair on Mr Easdale. Nevertheless image counts and his image, which is now tied to our club, is not a good one. Coming with such baggage, he would have had a hard fight to get some fans, maybe puritan ones, onside in any event, but he has decided that steady, unobtrusive work with tangible results is not the way to go and plumped for issuing legal threats to fans, questioning the loyalty of fans, and blaming fans for the club's problems. Whether you agree with the man that he was being impugned unfairly, threatening Rangers fans while ignoring the libelous attacks of fans' of every other team in Scotland is, bluntly, an insane policy if the aim is to promote yourself as a trustworthy figure. The lack of the ability to think a situation through and deal with it is dismaying; when the UoF or Sos were at Murray Park last week for a photo-opportunity it showed how anyone with any sense ought to have dealt with it. His remarkable access to ST sales figures and the financial status of a plc of which he is not a board member could, you might argue, point to a searingly sharp analytical business mind. Graham Wallace certainly made it clear that Mr Easdale was speaking in a personal capacity as shareholder last Thursday; I wonder if every shareholder, should they chap Mr Wallace's door, would receive such detailed information as Mr Easdale apparently gets? Mr Wallace, Mr Wallace. His deflection of Mr Easdale's blatant presence as eminence grise didn't do much for his credibility either, which was a shame because he at least of all the players who have high-kicked their way across our stage in the last two seasons seemed to come without baggage and with, it seemed, the tools to get the job done. He didn't have to lay out his credentials, they were there to see. However, trying to sell the most obvious of nutmegs over Mr Easdale's position did not leave him looking very sharp and counts against him. If it has been disappointing to see him bullshit us over Mr Easdale's interview. It has been doubly disappointing to find out, a day after the event, that far from Rangers credit facility being withdrawn due to the actions of fans or agitators, it was withdrawn because credit companies see us as a bad risk. I'd urge you to consider for a moment that credit firms - the leeches, the parasites, who cause so much suffering by lobbing bales of cash at people in no state to repay them - even these people don't want to touch us. This is not, in my book, an achievement which goes down in Mr Wallace's 'debit' account and, although it cannot be exclusively laid at his door as 'his fault', his dealing with it has been pitiful and serves only to erode both trust and credibility. His legal case seems a little vindictive; frankly there are deals and tranches of missing money more deserving of investigation. I think Mr Wallace dealt well with the media following the 139 Day Fantasy press conference last Friday, and in an ideal world he could probably do the decent job we all hoped he would. But you have to assume he sanctioned or was at least asked about hiring Paul Tyrell a day before he announced job losses; on the one hand we know we have to cut costs, on the other cutting them to pay someone to defend he and the rest of The Keystone Kops seems grotesque. You have to assume he is going to take a bonus unless more pressure is brought to bear, since he declined to answer questions on the subject and that seems grotesque; you have to assume he was aware that it was not fan issues which led to the credit situation described above but decided to blame them anyway. That's a lot of assuming, but since Mr Wallace won't answer the questions what else can I do but assume? So my view of the 'current lot' is one person with a dreadful reputation and image who constantly engages in battle with the people he then asks for money and trust from; and another person who is either massively out of his depth or finds clarity and transparence subtle concepts to be moulded as needed. Neither inspire any confidence in me, not because I desire Dave King and his millions to bail us out, nor because I have a reflex condition which means anyone in office is immediately a crook. There's no doubt we're heading for complete division as a fan base between those who back the board (beyond belief in my view but it's a free country) and those who perceive that the malaise lies at the boardroom door(s) and until they are cleaned out we're going nowhere. As a lonely handwringer these many years I am not especially freaked about splits in the support: but it's going to be sad to see nonetheless. Anyhoo, that's how things look from here.
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According to STV the review will be published to LSE today as planned. Please ensure all discussion takes place in this thread where appropriate. Full review for download here: http://t.co/HNRfyvKDAe
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Help required tonight. Meet at Ibrox underground at 6.45pm.
