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...Former director wants board punished for assuming loyalty Dave King will fly to Scotland to spearhead his supporter revolt against the current Rangers board. The South African-based former director released a statement Wednesday urging fans to withhold their season-ticket money unless the current Ibrox regime provides full transparency over the club’s finances. The board responded with a brief, one-line statement, insisting that his comments were ‘potentially de-stabilising and damaging to Rangers Football Club’. However, having been frustrated in his attempts to lead a fresh bout of fundraising via a new share issue, King told Sportsmail he wants to meet fans’ groups face to face after claiming the ‘business is not commercially sustainable in the short term’. Amid anger over a £1.5million loan by director Sandy Easdale and investors Laxey Partners, the Castlemilk-born businessman has warned fans they risk pouring their season-ticket money down a ‘black-hole’ to repay the cash and wants to front a fan-based consortium in the acquisition of shares in the club. Confirming he plans a direct appeal to supporters in the coming weeks, King told Sportsmail: ‘For the moment, I can deal with things remotely. But I do believe it will be necessary to travel to Scotland in the near future to meet with fan representatives.’ King flew to Glasgow in October in a bid to unite the warring boardroom factions prior to the annual general meeting and work out an investment package — but he returned home empty-handed. A direct offer to lead a new round of fundraising via a share issue has been ignored, prompting anger among fans. King has now appealed to them to stop the in-fighting and join him in the battle for the club’s future. ‘The football club is at risk and it will take a united front to overcome the obvious challenges that are ahead,’ he said. ‘The board can continue with its stubborn refusal (to listen) but that would not be a prudent response.’ Repeating a recent warning in Sportsmail that Celtic will ‘shoot to 10-in-a-row — and beyond’ if cuts are made and a substantial one-off investment is not accepted, King said in his statement that Rangers are doomed to compete for ‘minor places’ in the SPFL Premiership without it. ‘The board is focusing on right-sizing the business — cutting costs to match the income,’ said King. ‘It is correct that any club must, over the long term, operate within its means but in the short term Rangers needs a significant one-off financial boost that cannot be met from the current revenue stream. ‘Without this we will not get back to where we should be. ‘If we cut our costs to suit our present income we will remain a small club and Celtic will shoot through 10-in-a-row — and beyond — while we slug it out for the minor places. ‘That is not the Rangers that I grew up with and not the Rangers that we should be passing down to our children and grandchildren.’ King told Sportsmail that claims he offered a £1m loan to the club are inaccurate and rattled Rangers chairman David Somers also issued a statement, saying: ‘I have been in email correspondence with Mr King and suggested that, even though he is not a current shareholder, I would be interested in hearing any proposals he might have. ‘Mr King replied and indicated a willingness to consider participating in any future equity issue that the club might undertake. ‘This has been the extent of the discussion and I repeat that no offer of an interest-free loan has been received from Mr King, or anyone else, apart from Mr Sandy Easdale.’ Chief executive Graham Wallace is in the middle of a 120-day review of the club’ s finances in a bid to cut the spending that saw Rangers post an operating loss of £14.4m last season. Wallace has also instigated a survey of supporters on the running of the club. Convinced an unaccountable board are only interested in using fans as a cash cow, however, King says season-ticket money should not be used as a crutch for a failing business. ‘I would like to lead a fan-based initiative to acquire an influential shareholding in the club,’ he continued. ‘If the board does not provide disclosure to the fans then it is time to draw a line in the sand.’ Read more: http://www.dailymail.co.uk/sport/football/article-2568814/EXCLUSIVE-Dave-King-issues-call-arms-Former-director-wants-board-punished-assuming-fans-loyalty.html#ixzz2uTQYwxMm Follow us: @MailOnline on Twitter | DailyMail on Facebook

The third meeting of the CIC Working Group was held tonight at the Louden Tavern. It was agreed that the suggested contribution would be £18.72 per month but with a minimum of £5.00; and it was confirmed that the cost of collection will not exceed 1% of the contribution. I have been asked to draft Minutes for review rather than publishing a report here first. The Minutes with any post-Meeting notes will then be published asap on http://www.rangersfirst.org.

I watched a wonderful short film this week, on the effect the reintroduction of wolves has had on Yellowstone National Park in America. Wolves were wiped out in the area 70 years ago but several packs were brought back twenty years ago in the hope they would breed and reestablish them. A highly controversial move, the wolves were closely monitored and the effect they had on Yellowstone was studied during this period. As a large carnivore there was much apprehension about the wolves; would they decimate other species, clear large parts of the park of other mammals, indeed would they endanger man? The actual findings were mind blowing. The wolves mainly hunt deer and prior to the wolves return the deer had enjoyed decades with no natural predator except man. As such, they grazed where they wanted for as long as they wanted, they moved slowly through the landscape and their numbers grew and grew. The reemergence of the wolves changed this. The change wasn’t that large numbers of deer were killed (there aren’t that many wolves and there are tens of thousands of deer) it was that the return of the deer’s natural hunter led to a dramatic change in deer behaviour. Previously the deer grazed where they liked but now they were much more cautious and this was particularly noticeable near rivers. The grazing is good there, but it is open, and the deer were easily hunted. As the deer modified their behaviour and avoided grazing on the lower ground the vegetation changed, grass grew longer, bushes and trees reached maturity instead of being stripped back by hungry deer when small. This led to insects returning which in turn brought birds. The longer grass brought rabbits and the eagles who hunt them. Bears returned to eat the berries that now ripened on the bushes, beavers returned and used the mature trees to make dams. Most astonishingly of all the course of the river changed. Previously it meandered, it flooded regularly and the rain ran off the surrounding land quickly eroding the area. Now the increased vegetation soaked up much of the rainfall and its roots held the soil together. So the river ran deeper and faster, it no longer meanders it flows true. The wolves had indirectly been responsible for changing the course and flow of a river. What must be remembered is that wolves weren’t artificially introduced to the area; rather their absence in the first place was artificial. The ecology of Yellowstone evolved over thousands of years and at the top of the food chain was wolves. This large carnivore was meant to be there, nature had decided that a long time ago, the rest of the park actually depended on it. Its removal caused the damage, not its reintroduction. Every aspect of the park relied on the wolf directly or indirectly. Rangers play Stenhousemuir for the fourth time this season on Saturday. We’ve won our two previous league meetings and our meeting in the cup. Our last match at Ibrox saw us triumph by eight goals, our subsequent meetings have been much closer affairs. This match is being played against the backdrop of continued problems in Scottish football. The removal of Rangers from the top flight has upset the trophic cascade, the natural order of things evolved over more than 100 years is seriously out of kilter. Celtic have no serious rival as such and they are now meandering, their club is selling its best players, their manager speaks openly about being unsettled and their support, as well as showing apathy towards attending matches now fill their time by promoting songs about Irish murder gangs, making ill-thought-out political statements or indulging in good old fashioned hooliganism. The game’s governing bodies now no longer even hold the pretence of parity. They award cup finals and semi finals to grounds months in advance rather than wait to see who’ll contest them. Their decisions regarding cup matches and Inverness have bordered on the corrupt, the ticket allocation for the League Cup final being only the latest example. The side who finished second in the country last season, Motherwell, still managed to make a loss of nearly £200,000. The prize money they should have received was drastically cut half way through the season you see, no surprise there. This happened despite them cutting their player budget the previous close season. Still the league has no sponsor, in the top flight the champions and the side relegated was decided before a ball was kicked and the standard of play and player continues to drop. Without its largest animal the competition is reduced, the drive is lost and the revenue that follows it dries up. All of these things are interconnected, remove something from the natural order of things and it takes a long time to recover, if it ever does. Stenhousemuir go into this match with a new manager, former Scottish international and feted wunderkind Scott Booth. Although the current Scotland under 17 coach doesn’t take up his post for a few more weeks we can expect his new players to be eager to prove their worth to him. So motivation shouldn’t be an issue for stand-in coach Brown Ferguson’s side. Stenhousemuir are in a bad run of form with no victories this year, only their early season good results afford them the relative safety of sixth place. Rangers go into the match without Moshni who remains suspended. Cribari did well against Ayr and should retain his place although I expect McCulloch to return to the defence and Foster to drop out. Beyond that the side should pick itself, MacLeod should come into contention if fit again but I expect Bell, Law, Wallace, Black, Daly, Faure, Templeton and Aird to start. I don’t expect a repeat of the early season 8-0 but half that wouldn’t raise an eyebrow particularly if we score early. Stenhousemuir have both suffered and benefited from being in the same league as Rangers. Having the largest carnivore in the country close by drastically reduces the likelihood of promotion for every other club in our division, but it does offer them other tangible benefits. Our presence is artificial though, man made and it is upsetting the natural order of things. The trophic cascade refers to interconnectivity, how removing something from the top of the food chain has consequences all the way down that chain, how these changes can’t all be foreseen or managed and it is vital that chain isn’t allowed to be tampered with artificially. Recent meetings aimed at securing a voice for Rangers supporters in our boardroom should be welcomed, not only by all Rangers fans but also by all football fans. Whatever your feelings towards our club, we are all connected and interdependent, it’s in everyone’s interests that we’re back where we belong believe it or not. The only thing that should prevent that happening is our side not being good enough. Financial stability and accountability are vital, not just for our sake but for every club in the country. Nobody should fear the return of the wolf, its return should be welcomed by all.

Club website link: http://www.rangers.co.uk/news/headlines/item/6350-ready-to-listen Received by email Dear At our recent AGM I outlined our intention to undertake a comprehensive review of the entire Club and I am pleased to report that we are making excellent progress with this. A key element of looking at how the Club operates and engages is to understand what is important to you, the Rangers supporters. If we can obtain your constructive input and suggestions then we can develop a comprehensive insight into what is needed to address the areas that are important to the fans. We are in the process of rebuilding how your Club operates and based on feedback from many of you, it is clear that there is a need for professional business management, honest conversation, transparency and greater communication to allow us to move forward together. Your Club Executive and Board is wholly open minded on how we can work together for the better development of Rangers. The Club, and you the supporters, have continued to be tested in recent months as we work on developing the long term strategy for rebuilding the Club. We need you to know that by working together, we have the ability to position your Club for a stable, successful and sustainable future. We hope that you will engage with the Club and talk to us openly. We value your input and we are Ready to Listen. To start us on this journey together, I would ask if you could take a few minutes to complete this short survey which will give you the opportunity to commence the process of sharing your thoughts and opinions with us. We will consolidate all input received and use this as the basis upon which to move our wider supporter engagement initiatives forward. Please click here to start survey. Thank you for your support. Graham Wallace Chief Executive Officer Rangers Football Club

Update on poll result Is this email not displaying correctly? View it in your browser. Rangers Supporters Association, Assembly & Trust Statement The Rangers Supporters Association, Assembly and Trust have contacted the CEO Graham Wallace to ask for clarification on the proposed loan by directors and/or selected shareholders. It is of great concern that at the club's AGM in December 2013 Graham advised there was sufficient cash in the business for the club to be able to continue to trade in the short to medium term yet two months later we require a loan for working capital. We would also like assurances that the club have explored all options for attracting fresh investment and this is the best deal available to the club. On the day that the club launched a survey on listening to fans they have ignored shareholding fans overwhelming opposition to resolutions 9 & 10 at the club AGM. Resolution 9 seems to be being used to increase the influence of certain shareholders without affording the same option to others, which is an affront to shareholder democracy and rights. Friend on Facebook Follow on Twitter Forward to a Friend follow on Twitter | friend on Facebook | forward to a friend Copyright © 2014 The Rangers Supporters Trust, All rights reserved. You are receiving this email because you opted in at our website and you are currently a Rangers Supporters Trust Member or Follower Our mailing address is: The Rangers Supporters Trust RST / BuyRangers Administration Clydebank Glasgow, Scotland g80 United Kingdom Add us to your address book unsubscribe from this list | update subscription preferences

Don't have much to go on, but apparently King is predicting our financial meltdown again in another Keith Jackson article....

RANGERS have been awarded the maximum six-star status by the SFA in their 2013/14 Club Academy Scotland audit. The annual review has reaffirmed the Light Blues as a leading force in this country when it comes to laying a platform for the development of emerging talent. A performance-based youth programme, teams participating in Club Academy Scotland are given a rating after they are rigorously assessed on various criteria. These include aspects such as academy plans, coaching curriculums and staff qualifications in coaching, medical and sports science. It also takes into account scouting procedures and administration and Gers are one of only two clubs to have been given the highest possible grade. The audit was conducted by the association’s Club Licensing Department using a rating programme compiled by its Performance Department. An accompanying grant is issued which corresponds with a club’s rating, meaning Gers will be given the highest possible amount as they seek to go from strength to strength. It has been a terrific season for Rangers at youth level so far this season, with Gordon Durie’s under-20s competing well as they continue bidding for a league and Youth Cup double. And as the club strives to keep producing exciting new players, Director of Youth Development Jim Sinclair is happy with what’s being achieved. He said: “We’re delighted to have achieved six-star status and it’s a great compliment to the standards we set. “Across all our disciplines, whether part-time or full-time and in coaching, sports science or something else, it’s a great pat on the back to our staff for the work they do. “A number of factors were considered when the audit took place and having a facility such as Murray Park can only be a good thing in that respect. “Having this status certainly won’t do us any harm. It’s nice to be recognised as being there as the best in the country. “After everything which has happened at the club in the last couple of years, it’s good that people get a reminder of that. “We’re making good progress with our youngsters and we’re confident there are a lot of young players in our system who will benefit from the environment here at the club.” http://www.rangers.co.uk/news/academy-news/item/6344-six-star-status-for-gers

https://twitter.com/TheLoudenTavern

I know it's funny when he gets names wrong and Jeff and the guys take the absolute pish out of him but what does he actually contribute? There was a point today in his analysis that I started to think that he is probably verging on full mental retardation. I mean ffs Demichelis is an Argentine internationalist that has played for Bayern and is now a regular for Man City, surely any football pundit should be capable of pronouncing his name? If I am doing a job I put a bit of planning into it and make sure I know what I am doing. He is going live on TV not knowing anything about what he is being paid to do. They may as well get Gazza's pal Jimmy Five Bellies on after 15 pints of stella to see what he has to say. I think the joke has gone on a bit far now. He has nothing insightful to say and they need rid of him. His analysis is terrible and he struggles to pronounce any player's name that has more than one syllable. Sky is a weird mix for me. You get the superb analysis from Carragher and Neville in games then Super Saturday is largely a joke really. Maybe that's the point? I just think Merson is completely unfit for the job.

Friday, 14 February 2014 12:15 Negatives To Positives Written by Andrew Dickson ALLY McCOIST could never have predicted the last two years going the way they have for Rangers and is hopeful positives will now start outweighing negatives at the club. The manager learned the afternoon before Valentine’s Day in 2012 that then owner Craig Whyte had filed to take the club’s holding company into administration. It wasn’t long before that became public knowledge and within 24 hours that process had been completed due to the club’s financial problems at that stage. What has followed since has been difficult for the Light Blues and its loyal support at times but the feeling is Gers are making progress again. Chief executive Graham Wallace is currently conducting a 120-day review of the whole business as he tries to shape a solid, structured plan for the future. That’s a work in progress, as is the evolution of McCoist’s team which, as it stands today, is going for a unique treble of trophies in the final weeks of the season. The Ibrox boss was in reflective mood this morning as he looked back at the club’s recovery since that dark day two Februarys ago. Amidst all the low points, there are more highs emerging as time goes on and that gives McCoist hope. He said: “It has been two years nobody would ever have predicted for the football club. They’ve been two really dark, bleak years. “There have obviously been positives but it goes without saying the negatives far outweigh the positives. “We had administration and liquidation but there are definitely positives for everybody at the club and the fans to look forward to now. “After winning the title by a great number of points last year, we’re in a fantastic position to do that again this year. “We’ve a Ramsdens Cup final and a home quarter-final in the Scottish Cup as well so there are positives to come out of a bleak two years. “You’re scared to look too far ahead other than a few days and towards the next couple of games and the like. “But I’ve always followed the philosophy that what will be will be. We will always attempt to do our best and hopefully that will be good enough to get us back to where we want to be. “Like the rest of the staff, we’ve got jobs to do and we’re very, very determined to do it. If we all work together, we’ll have a far better chance of getting us back to the top flight.” Despite staunch denials a second administration could be on the cards, some ill-informed sources from outwith the club wrongly persist with claiming that’s the case. Such suggestions bemuse McCoist, who is certain no such path will be taken. He added: “I speak to Graham on a regular basis and I’m meeting him again this afternoon. “I think he’d say to me if the money was going to run out but I’ve had no indication of that from him. “I’m aware of the financial difficulties and the position we are in at the moment but I’ve not been told anything like that.” http://www.rangers.co.uk/news/headlines/item/6321-negatives-to-positives

Despite being a decade long user of usually anonymous internet messageboards, I still prefer going out, having a bite to eat and a good laugh. With that in mind, I present to you: The 2014 Gersnet End of Season Boozy Do Gersnet stalwart Brahim Hemdani can provide the destination, this natty Mediterranean chophouse on the sou'side: http://www.tripadvisor.co.uk/Restaurant_Review-g186534-d1087980-Reviews-Malaga_Tapas-Glasgow_Scotland.html and if enough go, the owner is apparently willing to shut the doors to your ordinary, workaday customer in order to bow and scrape before us with the all deference due people in our position. The date is entirely flexible, so long as it is near the end of the season; whatever suits the most will win, I guess. Plainly this will be a poor night out if no-one goes, just a lonely, portly fellow (that's me, btw, not Brahim) sitting in a restaurant staring glumly out the window. Having been on a golf day out with RM and having met a good few posters from here, I can honestly say I haven't met anyone who isn't completely normal, so if you're a bit nervous about a night out with strangers I'd urge you to go for it. You can always leave!* * once you've paid

http://www.heraldscotland.com/sport/football/former-rangers-players-gough-and-rae-back-scheme-to-hand-clubs-supporters-power-at-ib.1392030197

R&M are now the third largest shareholders in Rangers with 7.37% of the issued share capital. As stated in the other thread they are "long only" investors i.e. they do not operate hedge funds which might bet on the price of a share going up or down. The shares are held in their World Recovery and UK Equity Long Term Recovery Funds. The objectives of these Funds are as follows: UK Equity Long Term Recovery Fund The objective of the strategy is to outperform a target of LIBOR + 4% per annum. In seeking to achieve the objective the portfolio will primarily consist of UK equities that meet the manager’s recovery criteria of a turnaround in company profitability over the longer term. The manager does not operate within relative risk constraints, but sets absolute limits on the amount of capital allocated to any particular company or sector. World Recovery The objective of the strategy is to achieve capital growth, through investing in a portfolio which will primarily consist of international equities that the investment manager believes will benefit from a recovery in company profitability over the medium and longer term. The Fund will not be restricted by reference to a benchmark, territory, sector constraints or company size. I have a connection with one of the most senior people in the organisation who has invited me to send a list of questions which will be answered by him and/or the Fund Manager, Hugh Sergeant. Hugh Sergeant graduated from the London School of Economics with a degree in Economics. Hugh began his investment career at Gartmore in 1987 as a UK Equities graduate trainee and moved to Phillips & Drew in 1990, managing UK equities throughout his twelve years there. He became Head of Smaller Companies in 1997, establishing a new team and launching the UBS Smaller Companies Fund. In March 2000 Hugh was promoted to Head of UK Equities at UBS Global Asset Management and Chairman of the UK Equities Committee. He joined SGAM in 2002 where he was Head of UK Equities, manager of the Growth strategy and co-manager of the Special Opportunities Fund. Hugh joined R&M in August 2006 and currently manages the UK Equity Long Term Recovery, World Recovery and UK Equity High Alpha Funds. Hugh is Head of the UK Equities team at R&M with overall responsibility for managing and developing the team. (Source - Citywire). He is AA rated by Citywire; having outperformed the average manager in the UK Equity Sector by more than 80% over the past 5 years. I have some fairly obvious ones to start with: Can they chart the build up of the holding to the current 7.37%? Why were they not listed as having a notifiable holding on Rangers Investor Relations Website when they had 4.7%? (Zappa) Do they intend buying more shares Who did they support at the AGM and why? If they supported the requisitioners what is their view and position on the current Board? What is their objective /target price for the shares? (unlikely they'll reveal that publicly of course) Are they looking for a seat on the Board? Can they get me tickets for the Directors Box? I will keep this open until about 9.00pm tonight for additional questions and then pull it together for an email (and I would appreciate it if no one hacks into my account).

“There’s a well upon the hill from our ancient past Where an age is standing still holding strong and fast And there’s those that try to tame it and to carve it into stone Ah but words cannot extinguish it however hard they’re thrown” I have to confess to giving in to one of my vices on Saturday. Despite now declaring myself a non-smoker, if truth be told I occasionally indulge in the odd puff, perhaps about 8 times a year in total.I have to say Saturday’s indulgence in the Wee Rangers Club had unexpected benefits. Those who are familiar with the “Smoking Area” at this establishment will know that the gantry affords a view of the Campsie Fells, with the peak of Dumgoyne just visible. These hills stand like towering guardians watching over our city. They are to Glasgow what the Pentlands are to Edinburgh, the Sidlaws to Dundee and the Ochils to Stirling. They have an enduring quality to them. earned by maintaining such a presence despite the ravages of nature throwing everything it has at them over countless years. And that thought comforted me in lieu of the latest attack on our club by Phil MacGiollaBhain, referring to us as “Stalag Sevco”. This one can be added to his previous soundbites of “Herrenvolk” “Klan” and “Underclass”. It’s not particularly difficult to see the theme which is developing here. Sadly. Mr MacGiollaBhain has been assisted in his endeavours by some in the mainstream media who have been only too willing to repeat such soundbites. For a self-confessed Celtic fan Mr MacGiollaBhain appears to spend a lot of his time writing and tweeting about Rangers. In fact his book – Downfall – not surprisingly is about Rangers. And whilst many cite the Sun comments about Mr MacGiollaBhain as being “tarred with a sickening sectarian brush” perhaps the Scotsman’s review of his book is more telling :- “The sirens started to sound at the first of several references to Rangers supporters as “the Ibrox klan”. The author makes no attempt to disguise his hatred for Rangers, stating at one stage “please let this football club die”. And yet he yearns to be taken seriously as a journalist, repeatedly complaining that no-one from the mainstream media ever calls him. As the tale unravels, Mac Giolla Bhain starts to disappear up his own rear, declaring: “I am aware of my own contribution and I rather like the guy I see in the shaving mirror every morning.” These are two classic mistakes: believing you are the story, and wanting a story to be true. When it’s not.” Which makes you wonder – if a man who “makes no attempt to disguise his hatred for Rangers” – can carve a career for himself courtesy of that hatred – shouldn’t a few more sirens be sounding in this country of ours ?

It's the Sun so hopefully as untrue as many of their stories, but, it does chime with Keith Jackson's recent statement that we'd have no money in weeks, not months and if you remember the original estimate of "last million by April" and deduct unseen pay offs since that prediction then this is scary enough, despite the source. The emboldening at the end is by me, not the paper, to perhaps give a more hopeful reading experience for you - though again it is a dodgy source. "RANGERS are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks. The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February. New chief executive Graham Wallace has assured fans there is no danger of a second plunge into administration — two years after ex-owner Craig Whyte steered the club to its doom. But in a complaint to the AIM exchange, a disgruntled investor writes: “It’s the worst-kept secret in Scotland that the club is running out of money in the next few weeks, yet the board has made no announcement.” The shareholder says Rangers should have disclosed any projected shortfall under stock market rules. AIM chiefs have vowed to investigate the claims. An Ibrox spokesman said they could not comment on regulatory matters. But a source said last night: “It’s untrue — there are people trying to undermine the board." (By Cameron Hay)

RANGERS supporters will seek new assurances from chief executive Graham Wallace about the club's finances today - as Lee Wallace edged nearer the exit. Wallace will hold talks with representatives of the three main fans' organisations, the Assembly, the Association and the Trust. And officials at all three bodies hope this afternoon's talks will be the start of a long-term working relationship. But the former Manchester City chief operating officer is set to face tough questioning about the money situation at the SPFL League One leaders. Sky Bet Championship club Nottingham Forest have had two bids - the second believed to be for £1million - for Wallace turned down. But there is mounting speculation the Scotland left-back will be allowed to leave if an offer of £1.5million is received. The 26-year-old stayed loyal to the Light Blues when they dropped down to the bottom tier last season and it is uncertain if he would agree to go. But the first-team squad was asked to consider taking a 15% pay cut earlier this month to reduce significant monthly losses at the Ibrox club. And the former Hearts player could be put under pressure to leave in order to generate income and drive down the players' wage bill. Rangers Supporters Association spokesman Drew Roberton stressed that fans remain concerned about the future despite being told that administration is not a possibility. He said: "I definitely see these meetings as a positive step. I think it is important for the club to have a constructive relationship with the fans considering what has gone on in the last couple of years. "Whoever is in charge of the club has to establish some sort of working relationship with the supporters. Let's hope that these meetings are the start of some kind of regular dialogue between us in the future. "The club needs all the fans fully behind them if we are to get back to where we were before at the forefront of the Scottish game and hopefully this is Graham Wallace's way of ensuring that happens." Roberton added: "But in light of the recent requests for the players to take a pay cut, and given that our former financial director said that we would be down to just £1m by April, there is real concern among the fans that the club has the money to continue to the end of the season. "To be fair to Graham Wallace, he has stated on more than once occasion that he doesn't see a problem arising and he has access to information and facts and figures that we as ordinary fans do no have. "But if the club do sell Lee Wallace it wouldn't go down well at all with fans. It would certainly add fuel to the fire about fans' concerns over club finances. "If there is no risk of administration then why bother selling your best player? Selling Lee Wallace is not a move with the future of the footballing side of the club in mind. "I am sure Lee would be one of the highest earners at the club. But would selling him really be worth it in the long run? "It may be the chief executive's and board's thinking for the future in terms of finances. But it would be a concern from a playing point of view as we prepare to move up to the Championship next season." http://www.eveningtimes.co.uk/rangers/rangers-fans-seek-cash-vow-at-wallace-summit-150246n.23307892

http://twitpic.com/dtp3jl According to the Daily Record. Bid of £900k rejected with club holding out for £1.4m. Don't grudge him a move tbh, he has earned it but the fee annoys me somewhat. A possible loss on such a good player is just typical of us. We are talking about a player in his prime, an international footballer and one who plays in a position where it is hard to find good ones. Of course we will survive and win the next two leagues without him but that doesn't mean i like it. If it was Celtic in our place, Lennon would be all over the media saying how priceless Lee is and how no one could afford him and Liewell would have his lapdogs writing the player is worth their standard £10m no matter the level he plays. As delusional as their tactics are, we need to take a leaf or two from their book. Why not tell the agents brokering the deal that the fee is £5m, we may get 3/4s of that. Who knows.

...........to cut costs elsewhere and keep first-team squad intact 27 Jan 2014 07:16 THE Ibrox midfielder admits he fears top players will be sold to help balance the books but hopes Ally McCoist is allowed to keep building for the future. NICKY LAW has urged Rangers chief executive Graham Wallace to cut costs elsewhere and keep the top-team squad intact. The Ibrox midfielder acknowledges that with financial streamlining going on at the club the final days of this month’s transfer window are a worrying time for the management team and players. Wallace is in the midst of a 120-day review designed to cut costs and develop a financial model to ensure a self-sustaining business. Big decisions have to be made, such as the one that saw finance director Brian Stockbridge leave the club at the weekend, but Law hopes a cash shortfall does not result in a player cull. With just five days left in the transfer window Rangers are vulnerable to any offers coming in for one of their stars with Scotland full-back Lee Wallace the player who could raise the largest sum. But Law believes it would send a bold message to the dressing room if Wallace and the money men on the board find other ways to make their cuts and refuse to sell in order to keep Ally McCoist’s squad on track for their Championship bid next season. The 25-year-old English ace, who joined Rangers from Motherwell last summer, said: “We’re just one of a number of clubs who will be looking forward to the end of the window because we have good players who people will probably be looking at and looking to take. “The manager has said we’re trying to build here rather than lose his best players. Hopefully that will be the case. "We want to keep everyone to help us build towards getting back where we belong. “It would be a positive sign that we’re looking to keep progressing and get back to the top and hopefully that will be what happens.” http://www.dailyrecord.co.uk/sport/football/football-news/nicky-law-urges-rangers-chief-3065454

There is seldom an isolated event at Rangers. Brian Stockbridge's departure as finance director is being interpreted as the first example of Graham Wallace, the chief executive, asserting his authority. Yet it also changes the dynamic in the boardroom, reducing the club to four directors and potentially altering how certain decisions are made in the coming months. There is, still, a sense of uncertainty about what the future holds for the club. Rangers' route back to the top flight is still being determined. Essentially, the club either cut back their spending in line with revenue from season ticket sales and, while in the lower leagues, limited commercial revenue. Alternatively, some investment in the coming 18 months would allow the team to be strong enough to compete on its return to the top division, and so quicken the recovery of Rangers' old status. An element of restructuring is required in either case, which is why Wallace has embarked on a root and branch review of the club's business. Philip Nash, the former Arsenal and Liverpool finance director who was recently brought in as a consultant, is expected to take the finance director role in the short-term. How it impacts on the boardroom will also be interesting, though. Dave King wants to lead the fundraising in a fresh share issue. His vision is to generate money from himself and other high net-worth Rangers fans that can be used to strengthen the squad and the football resources so that the team are immediately competitive, in return for influence on how the club is run. The alternative is a longer period spent trying to regain ground. There are complications, though, since a new share issue requires existing shareholders to reinvest to maintain the size of their stake, at a time when the vast majority of them have suffered considerable losses. The shares were launched in December 2012 at 70p, but closed last Friday with a value of 27.25p. This is the ideological struggle at the club, and the decision on the way forward lies with the Rangers International Football Club plc board members - Wallace, Norman Crighton, James Easdale and the chairman, David Somers - and the shareholders. Before either short-term funding, to tide over until season ticket sales kick in, or fresh funding is sought, though, Wallace has to restore the business to an even keel. It is thought to be losing between £500,000 and £1m a month, and costs will need to be cut. The first-team wages are around 30% of turnover, but with one week of the transfer window remaining, Rangers may yet find themselves having to react to offers for some of their players, or seek to incentivise some to leave, although payments would further reduce the cash flow. This is at a time when the team have lost only once in 22 league games. Some fans grumble at occasionally muted performances, but Ally McCoist deserves credit for managing through a series of crises, and for maintaining the standards the club was built on. "There have been times when I've said, 'What am I doing here?'," McCoist said. "But how could you regret becoming the manager of Rangers? I've got my dream job. It's not the dream situation [but] as long as I can look myself in the mirror, I'll be happy. I've made mistakes and I'll make more mistakes. As long as they're done in an attempt to do the right thing then I can live with that." A recent lunch with Graeme Souness and Walter Smith, his friends and former Rangers managers, will have brought plenty of reminders of different, more accommodating times. McCoist is resilient, though. While the club's future direction is being debated, his assessment is that his team needs reinforcements if it is to eventually challenge Celtic again. "If we're talking about winning the top league then we're miles away," he said. "I would hate that to be taken as a criticism of the team because it's not. But it would be very unfair for people to expect these free transfers who have come together to win [the] top flight. Some, if we got help with players coming in, could probably do it. But we would need investment." Herald

Those of us who have been following PZJ's investigation into allegations of State Aid offered to Celtic FC by Glasgow Greater Council, will be aware of a common theme emerging – an apparent failure or reluctance by GCC to provide information relating to abnormal conditions on some of the sites surveyed. Earlier this month I commented on the strange tale of the District Valuer brought in by Glasgow City Council to provide valuations in respect of several portions of land being considered for sale by GCC some of which were eventually sold to Celtic. Alas it's not only the District Valuer who is being kept in the dark with regard to these abnormal conditions but also our very own PZJ. His request for the geotechnical reports relating to the abnormal conditions present at these sites has been refused by GCC. On the 16th October 2013 he asked GCC for the geotechnical report to be released and was met with the following reply :- “As advised in our earlier letter to you of 11 September 2013, in accordance the decision of the Court of Session set out in Glasgow City Council and Dundee City Council v Scottish Information [2009] CSIH 73, you have the right to the information set out in a requested document, but not to the actual document itself. We therefore provided you with an extract from the geotechnical report and set out the basis upon which a valuation was agreed for the site. I agree with the decision that was made in our earlier response to release an extract of the report to you. “ In keeping with many local authorities Glasgow City Council is committed to improving transparency and engagement :- http://www.gcvs.org.uk/news_and_information/news/2188_councillors_vote_to_improve_transparency_and_engagement in fact it claims to be “groundbreaking” in it's approach to openness http://data.glasgow.gov.uk/ However it is neither transparent nor groundbreaking to hide behind previous decisions of the Court of Session in order to prevent the disclosure of information. It only serves to highlight ones suspicions and concerns as to what is actually contained within the report . Surely a complete disclosure would negate once and for all any suggestion of impropriety over this sale, and in addition completely usurp any wild and unsubstantiated claims the abnormals had been exaggerated in order to reduce the price. At Westhorn for instance the abnormal conditions were agreed at £3,515,000. What exactly does that relate to and what is present in or on the land which reduces £4,190,000 worth of property to a measly £675,000 ? One is almost minded of the case of Erin Brockovich.

From BBC website. Couple of statement in bold that gives his detractors more ammo. Rangers: Ally McCoist defends squad's four-star hotel stay Rangers manager Ally McCoist has defended the club's decision to book his squad into a four-star hotel before their win at Forfar. The players stayed at the Carnoustie Hotel before Monday's League One game at Station Park. "I can understand people questioning it," said the Rangers boss, whose club reported losses of £14.4m for the 13 months to July. "But it's my job to give our players the best opportunity to perform." “ It's my job as Rangers manager to give our players the best opportunity we can to perform ” Rangers manager Ally McCoist Chief executive Graham Wallace is aiming to reduce costs at the cash-strapped club and last week proposed a 15% wage cut for the playing staff, which they rejected. McCoist, who recently accepted a 50% cut to his £825,000 salary with the League One leaders, backed his players' decision to reject the wage cut. And he said the decision to stay at the hotel was simply a question of "preparing professionally". "We are still Rangers Football Club and have always attempted to be as professional as we can," he said. "That will never change as long as I'm manager. "To give the players the opportunity to play as well as they can you have to prepare as well as you can. We will continue to do that until I'm told otherwise."

Down to 30.4p, is there only one way for the shares to go with the present board ? Does the share price really matter?

The former Ibrox director has expressed his concerns that decisions made in the coming weeks will affect the team's ability to compete with Celtic when they eventually return to the top flight. The Rangers chief executive Graham Wallace is conducting a review of every aspect of Rangers' business. Last week he raised the possibility with the squad of a 15% wage reduction, although the players responded by asking if a similar sacrifice would be made by the club's executives. By Wallace's own admission, though, cuts will need to be made to bring the business back on to an even keel, although he has insisted that administration is not a threat. King, though, believes that cutting costs now will undermine Rangers' attempts to restore the club to its previous status. The first-team wage budget is 30% of turnover - significantly less than UEFA's recommendations - and there is no scouting set-up, following Neil Murray being removed as head scout last year. "The CEO has a lot of personal credibility but he is constrained by the funding realities," said King, a South Africa-based businessman. "I believe the club has to have funders who will invest to ensure that we can compete with Celtic when we get back to the SPFL. Unfortunately, our existing shareholders either don't have the money or the willingness to support Ally [McCoist, the manager]. With the right shareholder profile we should be investing in the squad not reducing it. We should be supporting Ally 100%." King has previously said he would like to lead a new round of fundraising through a fresh share issue. The shareholders would have to reinvest to maintain the relative size of their stake in Rangers International Football Club, so such an initiative would likely change the ownership dynamic. Wallace has said he will address the need for new funding once the business has been streamlined. King held meetings with Sandy Easdale, the shareholder and member of the Rangers Football Club board, last year in an attempt to broker an agreement that would have allowed him to invest in the club and take up the chairmanship of RIFC plc. He could not reach a compromise deal with the different factions within the shareholder base. He was also keen that Paul Murray should return as a director. Murray was among the four nominees who did not receive enough votes at last December's annual meeting to be elected on to the board. King believes that as well as supporting McCoist, shareholders ought to have been open to working with Murray. "He is a man that all Rangers' fans can completely trust," said King. http://www.heraldscotland.com/sport/football/keep-spending-on-squad-urges-king.23251877?

Excellent article by D'Artagnan - Scapegoats & Scaremongering (Walter Smith) It is particularly difficult writing an article which disagrees with one of your all time heroes but difficult times call for difficult decisions. Whilst Walter's synopsis is a popular ideology it lacks in financial reality. We may well still be Rangers but we are a Rangers operating with with vastly reduced revenue streams in terms of income from season ticket sales, sponsorship and commercial hospitality as a consequence of the league we have been forced to operate in. It's easy to say this is still Rangers if you don't have to, or are not responsible for picking up the bill for operating as in days of yore. The financial state of our club is once again the subject of much speculation, which has been exacerbated considerably with the news that a 15% reduction in player's wages was muted a cost cutting measure. The subsequent anxiety which this caused amongst our support, and the treatment (perhaps scaremongering) of this story in the media, resulted in the search for the inevitable scapegoat. I'm not convinced that two of the eventual "suspects" put in the frame - Ally & Brian Stockbridge - were placed on the list of potential suspects with reasonable suspicion - or consideration of all the relevant facts. Let us start with Ally - I'm sure most of us agree that his wage was excessive for our current league position in fact the whole expenditure with regard to the costs of our coaching staff would be worthwhile of critical review. Furthermore as is now common knowledge Ally has agreed to take a considerable pay cut. Perhaps even more unfair is the suggestion that the current squad along with the wages and contracts of some of our players are too high – and it's Ally's fault. This would only be a valid criticism if Ally had negotiated the contracts in question, and the overwhelming evidence appears to suggests this was in fact done by others. The suggestion that Ally should be a scapegoat for our financial woes is further usurped when you consider our playing staff bill as a percentage of our club's overall operating costs. That is not too say either our squad is too big for the current demands upon us , nor that there are not players on wages which are as unrealistic as our manager's wages were, simply that it is unrealistic to lay the blame with Ally Brian Stockbridge presents considerably more of a challenge in terms of offering a defence - he is after all financial director of our club. Furthermore he is on record as saying our wage bill was sustainable when quite clearly it is not, not if a 15% wage reduction is being considered as an option. In fact, had it not been for Ian Hart's recent interview, I doubt very much I would be offering any kind of defence. Whether Hart's defence of Stockbridge is merited is open to debate – it would perhaps have been more cut and dried if Hart's interviewer had asked more probing questions regarding the remit and expectation of our Financial director. Whatever your view of Brian Stockbridge, perhaps the question we need to ask ourselves is would the immediate sacking or removal of Mr Stockbridge bring an end to the culture of excess which has befallen our club for far too many a year ? I think we all know the answer to that question. Some will have already made up their minds about the competency or incompetency of Brian Stockbridge as a financial director, or Ally as manager, and perhaps with good cause. But to lay the blame for our financial woes at the feet of either of these gentlemen is merely skirting over the more serious issues affecting our club. We need to eradicate the culture of excess at our club from top to bottom, from directors to tea lady if required. Let us not allow the settling of old and tired arguments, or other agendas distract us from the challenging and possibly painful task which lies ahead. We don't need scapegoats – particularly when some of our financial failings are clearly cultural and process driven – we need honest assessment and a willingness to be prepared to accept the necessary changes. It wont be easy nor do I suspect it will be painless. Our new CEO claims he is up to the task – I hope to God he is right. Link to article - Scapegoats & Scaremongering

After a month away from the online madness, I thought I'd better start writing again: http://www.therangersstandard.co.uk/index.php/articles/current-affairs/306-mountains-molehills-and-murder-hill