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http://www.bbc.co.uk/sport/0/football/27793911 Rangers are to launch a new share issue in a bid to raise in the region of £8m. The Ibrox board met institutional investors in London on Tuesday, with the new issue to take place before the end of August. Rangers chairman Graham Wallace recently told fans that the Ibrox club was "in a good place" financially. The BBC understands that a minimum of £7m is needed to cover a cash shortfall at the newly-promoted Scottish Championship outfit. Major shareholders Laxey Partners and Sandy Easdale, chairman of the football board, have both indicated they will buy more shares. The Union of Fans - a collective of Rangers supporters groups - has urged people to withhold season-ticket money in protest against the board's running of the club. It led to question marks over the ability of the club to meet the sales figures required for next season. However, Wallace insisted Rangers are "in a good place" despite concerns over the club's finances. The chairman's 120-day business review set out the club's intention to raise fresh equity in the autumn, win promotion from the Championship at the first attempt next season, before adding a Scottish title and being competitive in Europe by 2017. The club's interim accounts revealed losses of £3.5m for the six months to 31 December and "going concern" status was only granted on the basis of predicted rises in season-ticket prices and sales. The board have had to seek emergency funding in recent months. -
http://www.rangers.co.uk/news/headlines/item/7011-rangers-reveal-third-kit
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RANGERS directors were locked in showdown talks in London yesterday as they attempt to stave off more financial chaos. Record Sport can reveal brothers Sandy and James Easdale travelled to meet with representatives of shareholders groups Blue Pitch Holdings and Margarita Holdings before staging further discussions with the rest of the Ibrox regime yesterday afternoon. Talks will continue at 10.30am today at an official board meeting to be held in the offices of the club’s financial advisers, Daniel Stewart. The Easdales flew out of Glasgow yesterday on a morning flight to the docklands’ City Airport. Coincidentally on the same flight were the club’s shamed former finance director Brian Stockbridge and axed PR guru Jack Irvine. Rangers sources insisted last night that Stockbridge’s presence was ‘purely coincidental’ although all four were spotted chatting together in the departure lounge before boarding. On arrival in London, Stockbridge was seen heading for a train while the Easdales left in a taxi cab. But it’s understood the brothers were then involved in talks with the same mysterious investors who helped fund the £5.5million takeover which saw Charles Green, Stockbridge and Imran Ahmad seize control of the club’s assets two years ago. Blue Pitch and Margarita are now supporting the Easdales and sources claimed last night they will be willing to plough more money into a fresh share issue if, as widely expected, the club requires an urgent injection of cash after a dramatic slump in season-ticket sales. It’s understood chief executive Graham Wallace later met with the Easdales after flying back to Britain from a supporters convention in Canada. Wallace declined to answer fans’ questions when asked how many season tickets have been sold. Sources close to the board insisted last month 20,000 fans had renewed. Meanwhile, generous fan George Letham, who stumped up £1m in emergency cash to keep the club out of trouble in February, has still not had his loan repaid. Under the terms of his loan the money was supposed to be returned as soon as sufficient funds had dropped into the club’s account from season-ticket sales. And with June’s wage bill still to be covered at the end of this month, the regime’s need to secure fresh funds seems increasingly urgent. But before jetting back across the Atlantic for yesterday’s London talks, Wallace insisted on the club’s website that Rangers finances are not a cause for alarm. And he insisted fans can expect to see more new signings soon. Meanwhile, it has been revealed accountants and lawyers have raked in a staggering £2m in 12 months as the bill for winding up oldco Rangers continues to soar. The figures have been detailed in the latest six-month report from insolvency experts BDO who were appointed liquidators of the Rangers Football Club PLC after it failed to emerge from administration following Craig Whyte’s ruinous 10-month reign. And the unfathomable strategy adopted by Whyte is further highlighted by the fact almost half of this latest bill has been covered by the final instalment of the £4.5m deal which saw Nikica Jelavic sold off to Everton just two weeks before the club was plunged into financial chaos in February 2012. The BDO report, which was completed at the end of last month, reveals a cheque for £975k is expected to arrive from the Goodison Park club ‘shortly after 31 May 2014’. But that won’t come close to covering the spiralling costs – as BDO gear up for a potential multi-million pound courtroom battle with Collyer Bristow, the law firm who advised Whyte during his takeover in 2011. In total, more than £1m has been spent on legal fees and outlays with more than £650k of it going to solicitors Stephenson Harwood, who are preparing the case against Collyer Bristow. The report says a trial date is ‘currently set for the beginning of 2015’ but it is anticipated a deal could be negotiated and an out of court settlement agreed. BDO are also carrying out a probe into the conduct of administrators Duff and Phelps, who sold the club’s assets to Green for a knockdown £5.5m. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-directors-hold-showdown-talks-3668192
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Wednesday, 04 June 2014 18:45 Miller Completes Rangers Hat-trick Written by Rangers Football Club RANGERS Football Club has today confirmed the signing of Kenny Miller on a one-year deal, with the option for a further year. The 34-year-old striker is now in his third spell with the Light Blues having joined initially from Hibs for the 2000-01 campaign and returning for a hugely successful period between 2008 and 2011. Miller won three top-flight league titles, the Scottish Cup and the League Cup during Walter Smith’s reign before leaving for Bursaspor in January 2011. Following spells at Cardiff and Vancouver Whitecaps in America he has returned to Rangers, where he scored 67 goals in 147 appearances. Miller commented: “I am thrilled to return to Rangers for a third time. I have enjoyed so much success at this great football club and I am determined to repeat it again next season and beyond. “Rangers is a special football club and we are on the rise again and I want to play my part as we look to get back to the top of Scottish football. I had a number of offers once I left Vancouver but I had my heart set on returning to Ibrox and I can’t wait to get started again.” Rangers Manager Ally McCoist: “We are delighted to welcome Kenny back to Ibrox. He was a terrific player for us in the past, especially his second spell at Rangers, and we have won many trophies together. “Kenny brings experience and pace to our forward line and will be a great influence on our younger players at Murray Park. He is a top class footballer and we look forward to seeing him in a Rangers jersey once again as we look to secure promotion to the top flight next season.” http://www.rangers.co.uk/news/headlines/item/7005-miller-completes-rangers-hat-trick
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.......for their silence over FIFA World Cup scandal in Qatar. JIM Murphy MP has called on the SFA to stand up and be counted amid more damaging revelations over bribes. THE SFA came under mounting pressure yesterday to end their silence over the Qatar World Cup scandal. Labour MP Jim Murphy called on Scottish football’s controlling body to stand up and be counted amid further damaging revelations over bribes. A leading investigator who exposed FIFA corruption also called for the SFA to make their position on Qatar clear. But SFA chief executive Stewart Regan refused to say anything when approached by a Sunday Mail reporter on Friday at his home in Glasgow’s West End. Regan would only say: “I’m just on my way out. Thanks very much.” The decision to award the 2022 tournament to Qatar has been embroiled in controversy over labour conditions for migrant workers and corruption. This year, the Sunday Mail exposed the abysmal conditions faced by men building the stadia and *infrastructure. And new evidence linking disgraced Qatari football official Mohamed bin Hammam to bribes have plunged the 2022 event further into crisis. Yesterday, Murphy urged the SFA to break their silence over the slave conditions in Qatar before FIFA’s annual congress in Brazil this week. The shadow international development secretary travelled to Qatar with the Sunday Mail in April to probe the working conditions of migrants. He said: “FIFA is engulfed in scandal. The time for real and decisive action is now. So many people, including UEFA president Michel Platini, the English FA, the British representative on the FIFA board and other football associations around the world have spoken up. “The SFA must now break their silence and stand up for what’s right. “The allegations of corruption must be fully investigated and, if found to be true, Qatar must be stripped of the World Cup immediately. “But FIFA must also seize this opportunity to force real change in Qatar and finally bring the industrial-scale abuse of migrant workers to an end. FIFA has two choices – change or rot from within.” Scots writer Andrew Jennings, who uncovered evidence about vote-rigging and bribery in his book Foul: The Secret World of FIFA, urged the organisation to put their house in order. He claims too many decisions are based on keeping FIFA delegates happy, rather than for the good of the game. He said: “You only have to look at the line-up for the 2014 World Cup to see that there just aren’t 32 great teams in the world. “Who would want to cross the road to watch Honduras, other than those with a Honduran passport? “The more teams you have in the World Cup, the more jollies for the officials. “Your team’s no good but Sepp Blatter looks after you by making sure you get a nice holiday in Brazil. You’ve got all these old guys in their declining years that don’t speak out but get a huge amount of money, World Cup tickets and first-class flights. “That’s the kind of men that Sepp Blatter approves of. “To get rid of him we need politicians and outside agencies like the UN and the European Parliament to get involved.” Jennings has been investigating FIFA for a decade and has been barred from Blatter’s press conferences since 2003. He has also researched and presented a string of Panorama exposés on the organisation including The Beautiful Bung, which probed bribery claims in 2006, and FIFA’s Dirty Secrets, which exposed alleged corruption among executive committee members. Last week, allegations emerged that former FIFA official bin Hammam *controlled a £3million slush fund which was used to buy the support of key *officials for the Qatar World Cup bid. This has led to renewed calls for FIFA to restart the bidding process. Even without the corruption allegations, there have been huge question marks over playing the World Cup in the Gulf state where summer temperatures can reach up to 50C. FIFA Secretary General Jerome Valcke has admitted the Qatar World Cup will be switched to winter but Jennings says that would have a catastrophic financial effect on Scottish football. He added: “Poor old Qatar were trying to run a clean bid and the crooks of FIFA had their hands out. “Who wants to go to Qatar? The fans don’t want to go because you can’t get a beer. The players don’t want to go and the clubs don’t want to release them. “If you’ve just paid £10million for a fantastic pair of goal-scoring legs, you’re not going to risk them in the hot sands of Qatar. It’s time the Scottish FA and the other three home nations tell FIFA enough is enough.” Last week, documents were uncovered allegedly showing secret payments from Qatar’s top football official to influential figures. It was claimed the leaked papers revealed that disgraced bin Hammam had made *payments to football officials in return for votes for Qatar. UEFA president Platini, who initially supported the Qatar bid, now says the vote should be re-run and sanctions imposed if *corruption can be proved. FIFA vice-president Jim Boyce has also said he would be in favour of re-running the vote for the 2022 tournament if the *allegations are proven. Yesterday, the day after we approached Regan, the SFA issued a brief statement on Qatar. They said: “We echo the comments of Jim Boyce. If any evidence of wrongdoing around the 2022 Qatar World Cup bid is proved, we would support a re-run of the bid process.” But Murphy said: “It’s not good enough for the SFA to meekly whisper a one-sentence comment. “The SFA seem to be one of the *quietest football organisations on the planet when it comes to the dreadful plight of World Cup *workers.” Meanwhile, angry Brazilians have launched an anti-FIFA graffiti campaign to protest at the cost of staging the World Cup. Powerful images – many showing hungry children – have been springing up all over venue cities. And the protests have the backing of World Cup legend Romario. Now a firebrand left-wing politician, he is fiercely critical of the staging of the tournament. He said: “There are far more important things that need improving in Brazil – like schools and hospitals – rather than staging the World Cup.” Brazilian police used tear gas and rubber bullets to break up violent protests just days before the start of the tournament Trouble broke out in the city of Sao Paulo where the opening game of the tournament will be played on Thursday. http://www.dailyrecord.co.uk/news/uk-world-news/scotlands-football-chiefs-savaged-silence-3661362
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“There must be some kind of way outta here Said the joker to the thief There’s too much confusion I can’t get no relief Business men, they drink my wine Plowman dig my earth None were level on the mind Nobody up at his word” Where is it we are trying to get out of ? I would respectfully suggest a rock and a hard place. As many of you know I’m not often given to profanity – but quite simply – what an absolute clusterfeck. There is a civil war engulfing us with our boardroom the battleground. As in every conflict the collateral damage is considerable. On one side we have a board who have failed to impress, fail to convince the Rangers support they have our club’s best interests at heart and on the other side we have the challenger in the shape of Dave King, who appears to be being given considerable latitude in his own failings and lack of clarity, as a consequence of his previous investment in our club. And of course that collateral damage I referred to is manifesting itself not only in a season ticket boycott, but also in the form of a “protest shirt” whose purpose is to deliberately prevent incoming revenue from the sale of club merchandise. It’s easy to say that such ventures deprive the board of money and as anti-board protesters I’m sure that provides the conscience with a fairly robust moral platform for such action. But at what point does it not only deprive the board, but also our club and a manager wishing to strengthen a squad ? Having deliberately deprived the board of regular and essential revenue are we then to hold them to account for failing to enhance our playing squad ? Good Lord. Before anyone starts harbouring feelings of sympathy for the current board allow me to remind you of the 3 critical questions I tweeted about the other week, which as yet remain unanswered. 1. Why did our club have to secure additional funding after CEO Graham Wallace assured us only weeks earlier there was sufficient money in the account. 2. Why have the board not moved to dispel allegations by the Daily Record that our credit/debit card facility was removed re season tickets due to the financial incompetence of the board and not as was suggested in the review – due to threats of an imminent boycott. 3. Why does it appear the Rangers Football Board, or persons serving thereon, have the ability to overrule the PLC board, when circumstances dictate. At the forefront of much of the angst against the current board have been the Sons of Struth. Since its inception this group have campaigned on a platform of opposing any sale or leaseback of Ibrox Stadium. Perhaps this groups 3 original aims and objectives are worthy of a refresh. 1. Keep the stadium in the club’s name to avoid Coventry situation 2. Have clear accounts which prove the proper running of the club 3. Have a board that keep the club off the front pages and who themselves are beyond reproach. To date however the Sons of Struth have not shared with the wider support the circumstances which gave rise to their fears which suggested our stadium may be subject to a sale and leaseback. Why cant those demanding transparency of others lead by example ? Surely if there is evidence which suggests this current board are planning such an option for our stadium it is something which should be shared with the wider support not only made available to a select few ? In fact would the sharing of such information not in fact be in this group’s interests in convincing the undecided within our support of the unsuitability of the current board ? I have spoken previously of our need for our support to find an enthymeme – a point where there is common agreement and we can move on from. Surely the status and destiny of our 2 biggest assets – Ibrox and Auchenhowie – can provide such a point of common agreement. All along the watchtower Princes kept the view While all the women came and went Barefoot servants, too Outside in the cold distance A wildcat did growl Two riders were approaching And the wind began to howl How long before the Princes stop being onlookers, or begging for the scraps off the master’s table ? When will we start campaigning on behalf of ourselves and the vision and aspirations we have for our club instead of using our energies and efforts to do the bidding of others ? When will we realise that the way outta here is to take control of our own destiny, and rely upon ourselves rather than upon others ? As Buy Rangers, Rangers First and Vanguard Bears continue to do that which Dave King seems to find impossible – buy shares in our club – its becoming less and less a question of “if” but rather a question of “when” ? Many music critics have commented on how Dylan’s All Along the Watchtower mirrors the words of The Book Isaiah Chapter 21 :- Prepare the table, watch in the watchtower, eat, drink: arise ye princes, and prepare the shield./For thus hath the Lord said unto me, Go set a watchman, let him declare what he seeth./And he saw a chariot with a couple of horsemen, a chariot of asses, and a chariot of camels; and he hearkened diligently with much heed./…And, behold, here cometh a chariot of men, with a couple of horsemen. And he answered and said, Babylon is fallen, is fallen, and all the graven images of her gods he hath broken unto the ground. I truly hope I live to see the day when Babylon falls at our club.
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Rangers fans seek access to season ticket sales figures Written by ANONYMOUS A Rangers supporters' group has called for the club's board to reveal how many season tickets have been sold. The deadline for renewals passed two weeks ago and the rate of sales is critical. Directors have previously admitted that a drop in renewals would affect the business's ability to trade as a going concern. The Union of Fans group has been urging supporters not to renew in protest against the current board. Before the deadline, Rangers admitted that sales were slow and directors even met with members of UoF, a coalition of various different fan organisations, to try to broker a compromise. UoF has been advising fans to pay their renewal money into the Season Ticket Fund, an initiative backed by former Rangers captain Richard Gough and former Ibrox director Dave King. The intention was to only pay the money to the club in return for security over Ibrox Stadium and Murray Park. It was claimed Rangers' chief executive Graham Wallace raised the prospect of the board offering legally binding guarantees not to use the property assets as security for loans or to sell them, but talks subsequently broke down. The Union of Fans have urged Rangers chief executive Graham Wallace to reveal how many season tickets have been sold The Union of Fans have urged Rangers chief executive Graham Wallace to reveal how many season tickets have been sold When the club released their interim results in March, the directors acknowledged that a fall in renewals from last year's sale of around 38,000 would leave the business short of enough income to trade for the next 12 months, although Wallace has been adamant that Rangers International Football Club will not fall into administration. A £1.5m loan from two shareholders - Sandy Easdale and George Letham - is due to be paid back as soon as that amount is raised from season ticket sales, but neither is thought to have received their money back yet. "We urge chief executive Graham Wallace and the board to come clean about how many season tickets they have sold and how much cleared income in the bank these sales have provided," said UoF in a statement. "If and when the cash figure reaches £1.5M, the board, as they announced to the Stock Exchange when the loans were negotiated, must immediately pay Sandy Easdale £500,000 and George Letham £1m. "For the avoidance of doubt, if these loans have not yet been repaid, it means that the board have not yet secured £1.5m of season ticket money or they have broken the repayment terms of these loans. "We would ask the board to make a clear statement of the number of fans who have renewed to the AIM market in order that supporters and shareholders can rely on the accuracy of the figure given. "This is a matter of grave concern for shareholders and supporters alike and we also believe it must be something which is being monitored by auditors, Deloitte. "When we met Graham Wallace on 14 May, he once again reiterated that there was 'no possibility of administration'. "We would therefore ask him to make it clear how the club plans to operate at what we believe is a greatly reduced level of season ticket sales." http://www.bbc.co.uk/sport/0/scotland/27651399
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Approx 230 pages containing over 7,000 signatories and about 80 pages of comments Thanks to all who added to the numbers Craig SoS -
So many season tickets have been sold in the past because it was 'what you did' every year and also an element of loyalty when the Club was down. Very few, if any, were still buying for the entertainment value. It was very much a habitual thing for a large number of us. You had your budget fixed every year to allow for it. A huge assumption is being made (IMHO) that everyone will come back if the boardroom mess is sorted out. I have major doubts about that. You see, I don't believe everyone has put the money aside for that eventuality. I think the poor uptake on Dave King's fund supports that theory. I don't think it was a mistrust of DK. People just want to see something for their money - instant gratification. Very few working class folks have that money to simply leave lying in a 'limbo' account. I also KNOW of many who were seriously considering giving up the STs due to the perpetual lack of entertainment year on year. Taking that step to use the money for something else, e.g. a large contribution towards a family holiday, has been a huge decision for some. But like with anything habitual in life, once you break it life goes on. After a few months........if there is nothing there to entice you back.... I'm just interested in whether anyone believes we will hit the same heights again in sales? I firmly believe that boardroom change wouldn't be enough to win the people back. -
.......never mind challenge for promotion. KEITH reflects on Hibs' extraordinary collapse and looks forward to a Championship season that will see three of Scotland's biggest clubs vying for a top flight return. SCOTTISH football awakes this morning to quite the Bank Holiday hangover. Let’s call it a bad case of the Hibeegeebees. Because what happened yesterday at Easter Road completed the routing of a top flight that has been wobbling and shaking since Rangers collapsed in a heap in February 2012. Back then, prior to Craig Whyte’s arrival on the scene, today’s landscape would have been unthinkable. But the reality is next season Rangers, Hearts and Hibs will all be playing in the second tier. That’s not to say we should all be overcome by grief at the thought of it. These three clubs have managed to make an almighty mess of their own business, be that off the pitch or on it, where Hibs have failed so spectacularly over the last weeks of the season. Yesterday they too got what they deserved and even though relegation had been in the post for weeks, there was something insufferable about the way they managed to botch it on their home turf against a Hamilton side that wanted a top-flight place more. All over the park. Terry Butcher and his players ought to be ashamed of themselves for the way they have let their supporters down and for the agonies they dumped on them yesterday. This will not be easily forgiven and nor should it because this woeful run has been nothing short of disgraceful for a club of such standing and status. Hibs should be up there leading from the front but instead they dropped off the face of the map and into a Championship all set up to boggle the mind. How can it be that these three giants can have fallen so hard? And what happens when at least one of them fails to clamber to the top of next season’s promotion ladder because three into two does not go. One of them is staying in that league for at least two years and the consequences of an extended stopover could be even more eye-watering than the penalty shoot-out which eventually saw Hibs go down yesterday afternoon. It had to be penalties, didn’t it? The ultimate form of torture for a support out of which the living daylights has been well and truly thrashed. There was one last kick in the nuts for them and it came in the shape of a defiant Butcher insisting he will not throw in the towel. To be blunt, he has been a calamitous appointment – an unmitigated disaster – and there have been absolutely no signs that he is capable of turning this team around. On current form, unless he can find a way to wheel and deal and clear his squad out, Hibs will do well to survive in the Championship next season never mind compete for promotion. At least they have a derby to look forward to (how much will the SPFL pay the broadcasters for that?) but this may simply open the door to a whole new world of suffering and humiliation. The Hibeegeebees? You better believe it.
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SATURDAY 24TH MAY. CELEBRATION AND PROTEST We have been asked by many fans to arrange some protests during the close season and as 24th May is the anniversary of the clubs greatest victory in Barcelona 1972, we have made arrangements for the Louden Tavern at the stadium to show a re run of the game from 1.00pm At 3.00pm we will be marching to the stadium for a 30 min protest and a petition to hand in and explain why the fans wont renew season tickets or indeed buy new ones. We require as many fans as possible to turn up as a show of numbers would be vital for the success of the protest Fans are asked to meet up at the Louden between 1.00 and 2.30 to give us adequate time to make final arrangements with fans Can I ask all to share at usual places and feeback to me with expected number which will allow me to notify Louden and make necessary arrangements. We are planning on some other things for Saturday and will announce them once we have confirmed Thanks Craig.
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RANGERS were today urged to clarify the current state of their finances - after it emerged that loans of £1.5million have not been repaid. Wealthy Gers fan George Letham and major shareholder Sandy Easdale lent the cash-strapped Ibrox club £1million and £500,000 last season. Under the terms of the agreement with the SPFL League One champions, they are due to receive that money back as soon as it is in the club account. But the pair have not received their cash - more than a week after the deadline for season ticket renewals passed. The Union of Fans want to be granted security over the stadium and training ground, and they have been urging supporters to pledge their money to Ibrox 1972 Ltd. And it is still uncertain how many people have signed up to watch Ally McCoist's side in the SPFL Championship during the 2014/15 campaign. This latest development has not helped to make the situation any clearer - and Rangers chief executive Graham Wallace has been encouraged to speak out. Rangers Supporters' Association general secretary Drew Roberton said: "When we (the UoF) met with (director) Norman Crighton, Sandy Easdale and Graham Wallace the other week they were adamant there was enough money in the bank. "They also said that they could raise £5m at the 'push of a button' and that all but one of the current investors had agreed to back a scheme should they need additional revenue. "But I was told on Thursday that around 12,000 had renewed their season tickets. If that is the case, and even allowing for the fact that many will have chosen to repay in instalments, then this might be cause for alarm. "My understanding was the first £1.5m of season ticket money that came in would be used to repay these loans. It would be good to have some sort of explanation." Roberton added: "Graham Wallace has said repeatedly that administration will not happen and the club will not run out of money. "Either he is right and we have sufficient money. Or he has been spouting the party line and he may have to take the fall. He may be faced with a career decision soon. "Whether his belief that £5m can be raised 'at the push of a button' is included in his forecast is not clear. But season ticket sales are slow and running costs are in the region of £1m a month." Roberton, who revealed he was "disgusted" at the way the Union of Fans was treated after their meeting with the board, has also urged the club to heal the rift with Dave King. He said: "The club has said they need to raise £20-£30m to get back to the top. Well, they have a guy, Dave King, who is chapping on their door who is willing to invest £30m. "It is economically silly to ignore him. The club say they hope to raise money in a share issue. But in far better times Sir David Murray had to underwrite a share issue himself." A Rangers spokesman said: "The loans will be repaid in accordance with the terms of the agreement in a timely and proper manner. We are in regular contact with Mr Letham and Mr Easdale." Meanwhile, Rangers chief executive Wallace received hundreds of postcards from supporters outlining why they have not renewed their season tickets when he returned to work today. The cards were delivered at a protest organised by the Sons of Struth on Saturday. It was one a series of events the Sons of Struth have lined up during the summer. http://www.eveningtimes.co.uk/rangers/uof-call-rangers-to-account-164951n.24329053
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Seems that the bros or one of them are suing for £200K. In tomorrow's Record.
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after refusing to hand over contract details for Charles Green and Imran Ahmad SHAREHOLDER Billy Paterson reported the club to police under Section 229 of the Companies Act 2006 after they refused his legal right to inspect contracts. RANGERS are facing a police probe into alleged failures of corporate governance. Shareholder Billy Paterson has reported the club to police for the second time after they refused to hand over contract details for Charles Green and Imran Ahmad. Rangers’ board were forced into a u-turn last month when they failed to show Paterson details of the service contracts of current directors, claiming they had no legal obligation. However, Paterson, from Fraserburgh, stuck to his guns and reported the club to police under Section 229 of the Companies Act 2006. Rangers admitted within 24 hours they had got it wrong – and released details confirming chief executive Graham Wallace is on a salary of £315,000 with a potential 100 per cent bonus. Paterson is now embroiled in another legal battle after Rangers rejected his request for contract details for former chief executive Green and commercial boss Ahmad. Ibrox legal advisers say his appeal is time-barred, they need only show service contracts for the previous 12 months. A Rangers spokesperson said: “Both service contracts were terminated in April 2013 and were outside the one-year inspection period stipulated by the legislation.” But Paterson is refusing to take their latest snub lying down and insists Green and Ahmad were still officially recognised as directors of the parent company and the subsidiary football board until the end of last May. He said: “Notices filed to Companies House by Rangers show Ahmad stepped down on May 29 and Green on May 31. “Rangers even released a statement last April stating Green was stepping down as chief executive with immediate effect but that he would leave the company by the end of May. “The failure of Rangers to acknowledge they were still both directors within the past 12 months and provide me with my legal right to see details of their service contracts has left me with no other option but to contact police. “I don’t know what, if anything, they are trying to hide but they are reluctant to be open and transparent.” A police spokeswoman said: “We have received a complaint and the matter is being looked into.” Rangers are already the subject of a police probe after fan Phil Maher reported Wallace for allegedly misleading shareholders over the company’s finances at the agm in December. Good on you Mr Paterson, whoever you are. Makes you wonder, why are they so reluctant to let the details out?
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We are looking to put together a meeting of all the different groups of the Rangers Support. All the fans groups, representatives, forums, magazines, podcasts, radio shows, fanzines and anyone who wants to come along We would like to make an attempt to bring civility back to the Rangers Support and thrash out a ‘code of conduct’ for how fans interact with each other online and in real life. It has been a hard time for the support as different views about what is best for the club are prevalent but this isn’t about protests, boycotts, supporting the board or anything else. It is purely about Rangers Supporters meeting and finding a way to give each other the respect a Rangers Supporter should have with one another. This is not about who is right and who is wrong – it is about the support moving forward and people with differing views being able to speak to each other. List of Groups we’d like to see there include: Sons of Struth Vanguard Bears Union Bears The Blue Order RST Rangers Media Follow Follow Gersnet Do The Bouncy No.1 Fanzine 72 Magazine WATP Magazine Rangers Supporters Assembly Rangers Supporters Association Copland Road Organisation Rangers Fans Fighting Fund Rangers Chat Heart & Hand Podcast We Welcome The Chase Podcast Aye Ready Podcast Any RSCs that are interested And apologies for anyone I have missed but everyone who has Rangers at heart is welcome. We would like to have this meeting at 1pm Saturday 31st May in The Louden Tavern: Ibrox Stadium, 111 Copland Road, G51 2SL. If you are willing to come along could you contact us here or email info@theloudentavern.co.uk There is no hidden agenda here, we are just trying to help the support. We have enough enemies out there. Check out http://www.rangersfirst.org – Do something positive to help the club and the support We Are The People God Bless The Rangers The Louden Tavern: Ibrox Stadium - More than a Pub Official Partner of The Rangers Football Club *We are responsible for The Louden Tavern: Ibrox Stadium, 111 Copland Road, Ibrox, G51 2SL solely and are not involved in the operation of any other premises
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@Chris_Jack89: Sandy Easdale has threatened legal action against Craig Houston over an online petition. Story in Wednesdays @TheEveningTimes #Rangers
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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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The Blue Order is confirming that we are reluctantly not renewing our season tickets for the 2014/15 season. It is, however, our intention to buy tickets for home and away games on a match-by-match basis so that we can continue to give our full support to our team. Unfortunately, until further notice, we are unable to accommodate any new requests to join TBO or for seat transfers into our section however we would welcome others to congregate with our group in BF5. As part of the Union of Fans umbrella group, TBO have been at the forefront of recent protests against the board and we strongly urge Rangers FC to engage openly with concerned supporters and potential investors to safeguard the club's future.
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For your information... Blowing a raspberry at Dave King perhaps?
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From today's Sunday Mail. Rangers in crisis: Entire Ibrox board reported to police in storm over statements made by CEO Graham Wallace May 04, 2014 07:07 By Norman Silvester 63 Comments INVESTMENT banker Phil Maher claims Wallace misled fans over the club's finances and he has asked police to examine whether the board committed an offence by failing to stop the chief executive. RANGERS' entire board of directors have been reported to police investigating statements made by chief executive Graham Wallace. Investment banker Phil Maher made two new allegations to detectives who travelled to London on Wednesday. He earlier claimed that Wallace misled Rangers fans over the club’s finances. In a three-hour interview, he alleged Wallace has made other misleading statements. Maher – a shareholder and lifelong Rangers fan – also asked police to examine whether the board committed an offence by failing to stop Wallace. Last week, we revealed Maher had complained about comments made by Wallace at the club’s annual general meeting in December. He claims Wallace misled shareholders when he said the club had enough funds to operate until May before the board took out a £1.5million emergency loan two months later. Craig Williamson/SNS GroupGraham Wallace However, a new complaint relates to comments made by Wallace about season ticket sales on Friday, April 25. Fans have been told they must pay by cash after payment providers First Data Solutions insisted on full security in return for their services. Wallace claimed the firm had made the demand after Dave King, who wants to take over the club, called for a season ticket boycott. Maher, who declined to comment yesterday, told police that is misleading because the credit issue was first raised with Rangers in January, a month before King’s boycott plea. A Rangers spokesman said yesterday: “The club has no knowledge of any erroneous complaints of this nature which, if they are ever put to the football club, will be defended rigorously as they have absolutely no grounds. “As these complaints appear to be vexatious, we will consider our legal position with regards to defamation.” Some disgruntled Rangers supporters held a red card protest against the board during their League One clash with Dunfermline at East End Park yesterday.
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@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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Thread on FF saying Sandy has passed away! So so sad if true Been confirmed by Mark Dingwall on FF RIP Sandy, a true Rangers legend.
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" The Union of Fans had planned a large scale protest display and leafleting at the game on Saturday. This will now be cancelled following the sad passing away of Sandy Jardine. We hope that Saturday will now be solely about honouring a fantastic servant of Rangers Football Club. "
