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Chaps, I'm not looking to troll or create tension here, but for the life of me I can't work out why any bear can trust or support the current board. I've seen nothing from the board that can help balance up my own feelings and each passing week sees more shit rolled at supporters. So, in the spirit of good debate, what are the good points of the board which gets them support, albeit a small minority, but support all the same from fellow Bears. What are the positives from board.
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Graham Wallace will be finding little time for respite. A draft version of his 120-day business review is thought to be ready for senior figures within Ibrox, the rate of season ticket renewal uptake will be evident to the ticket office staff and supporters have raised questions about executive bonuses. He understood that he would not face conventional challenges when he took on the chief executive role at Rangers in November, but he will never have felt under greater scrutiny than now. Wallace brought with him an impressive CV and a strong reputation. Within English football circles, particularly at the highest level, Wallace remains an admired figure. Former colleagues at Manchester City, where he was chief finance officer then chief operating officer, still talk enthusiastically about his personal and professional qualities. Often, staff in other departments would turn to Wallace for advice on how to deal with difficult situations, even though they were not specifically his remit. Those qualities, and the experience gained during three years at IMG and five at MTV Networks, do not suddenly dissipate. Wallace understood the situation he was walking into when he accepted the job offer and believed that he could - as an independent figure - find a solution to the state of conflict around the club. The result of December's annual meeting of Rangers International Football Club shareholders was an endorsement of his credentials and he might not have anticipated such a protracted state of upheaval. Rangers fans have made vocal and visual protests about the way the club has been run It is questions that he has been assailed with. Former director Dave King, pointedly, asked if the board was seeking financing last December while Wallace was publicly declaring that there was enough cash to sustain the business to April. The Union of Fans asked about his bonus arrangements and specifically if he is entitled to 100% of his salary, the same contractual arrangement as one of his predecessors, Charles Green, and the former finance director, Brian Stockbridge. It was Wallace who removed Stockbridge from his post in January before bringing in the former Liverpool financial director Philip Nash in an advisory role. Both men have solid reputations, but neither is likely to have encountered such a difficult situation as the business of rebuilding Rangers. Wallace inherited a mess, with the money raised by the launch of RIFC on the alternative investment market having been spent and the revenue being smaller than the club's outgoings. Rangers were also tied into most of the commercial contracts agreed by Green, although Wallace has struck a sponsorship deal with the online casino, 32Red, which is for three years. There is, though, a fundamental challenge. Rangers need recapitalisation - something Wallace has always acknowledged - as well as the rebalancing of costs that the chief executive has been pursuing. At the AGM, he announced a 120-day review of every aspect of the business. This was a required initiative - the interim results to 31 December 2013 showed a £3.5m loss - but the timescale was ill-judged. Football clubs are simple businesses, with mostly fixed costs and income, but very difficult to run because of the impact of sporting performance on the finances. It seemed to supporters as though Wallace was buying time. There was also a credibility issue when it was announced in February that £1.5m was being borrowed from two shareholders, Sandy Easdale and George Letham, with the money secured against Edmiston House and the Albion Car Park, given Wallace's previous assertion about the cash in the bank. The 120-day deadline passed on Thursday 17 April and an update on the review will be released on Friday 25 April. It will need to declare how Rangers will raise the funds to match the investment requirements. Manager Ally McCoist's football department needs an overhaul The football department needs an overhaul, with a scouting network required, but also more strategic decision-making when it comes to the first-team budget. Costs are imbalanced and manager Ally McCoist agreed to accept a pay cut, but a long-term, sustainable approach needs to be implemented to return Rangers to the top flight in a competitive state. Ibrox Stadium and Murray Park also need maintenance work, but bringing the business back to an even keel by cutting costs and increasing revenue streams will not provide the level of additional funding that Rangers need in the short to medium-term. With the board having ruled out borrowing against their major property assets, the options are limited. A fresh share issue, which King is keen to underwrite, would dilute the holdings of any current shareholders who do not reinvest. This would alter the shareholder dynamic and the power base that supported the current directors at the AGM. It is this problem that Wallace has to solve. If he presents a review to the board that steers the business towards recapitalisation, will all of the directors agree? There is also the more pressing issue of season ticket sales. The renewal process is underway and the deadline is the week following the business review update. Many supporters have grown weary and cynical of the machinations, on all sides, of the saga. Yet renewals are critical, since the interim accounts published in March revealed that going-concern status for the next 12 months was only granted on the basis of an increase in season ticket prices and sales. If the renewal numbers are in decline, there is a legitimate question about how Rangers will be funded until the end of next season. Wallace is experienced and capable but also at the mercy of the situation he took on - although earning the trust of the entire Rangers fan base was always unlikely given the tensions that exist between different groups. There are some decisions he might, on reflection, have made differently, but it is the ones he makes now that will be critical, to his future and the club's. http://www.bbc.co.uk/sport/0/scotland/27081026?utm_source=twitterfeed&utm_medium=twitter
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It's that time again! Post your captions folks! Photo copyright: 2014 Willie Vass Six hundred grand shirt sponsorship for our first season back in the premier league? Eh?
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Monday, 14 April 2014 20:00 Business Review Update Written by Rangers Football Club "THE Board of Rangers Football Club notes the concern of supporters around the timing of release of an update from the Club’s business review ahead of the renewal deadline for season tickets. The Board confirms, in accordance with its previous announcements, that the business review will be completed as planned and an update will be issued to shareholders and supporters on 25th April, ahead of the season ticket renewal deadline as previously indicated." http://www.rangers.co.uk/news/headlines/item/6763-business-review-update
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GRAHAM WALLACE insists Rangers are making 'substantial progress off the field' as they gear up for next season's SPFL Championship campaign. The Light Blues this week clinched a shirt sponsorship deal with online casino giants 32Red, who will replace Blackthorn in the summer and become the Gers' partners for the next three seasons. Ally McCoist's side are just one season away from their return to the Scottish top flight and chief executive Wallace said: "We are delighted to announce this deal. It shows we are making substantial progress off the field. "This is a good long-term partnership for Rangers. "We can leverage the strength of the 32Red brand and this deal can help reinvigorate the Rangers brand domestically and internationally. "We are working very hard to re-energise and reposition the club on the international stage. That goes hand in hand with our progression up the leagues and we are planning for next season in the Championship with one eye very firmly on the seasons beyond that. "Having a strong commercial partnership portfolio is very important to the club. "Attracting blue chip brands to be partners allows us to grow our commercial revenue which in turn allows us to reinvest right across the business. We are very pleased with this deal and it is the first, tangible step in our new commercial strategy. "The Championship will be a very competitive division and we are doing all our preparation to make sure that, in the true traditions of Rangers Football Club, we expect to be competitive and we expect to be successful." Wallace is due to complete his 120-day overview of the books at Ibrox on Friday but the club confirmed this week that they will only publish an 'update' on April 25. Wallace said: "We will shortly be publishing the results of the club's business review, as we committed to do, following an in-depth review of all areas of club operations. "This will give fans an insight into understanding the current status of club operations and how we are working to put in place what is needed to build for future success." http://www.eveningtimes.co.uk/rangers/wallace-happy-with-off-field-progress-at-rangers-159803n.23978036
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.......for spending spree under Uefa Financial Fair Play rules. Title challengers may face heavy fine or transfer embargo for breaking Uefa's Financial Fair Play rules. Manchester City were facing a huge Financial Fair Play sanction on Monday night as Uefa prepared to rule that the spending spree that transformed them into a superpower of the game breached its much-vaunted cost-control regulations. Telegraph Sport has learnt that City, whose billionaire owner, Sheikh Mansour bin Zayed al Nahyan, has bankrolled the most successful period in the club’s history, will this week be found guilty of failing to comply with FFP rules – barring an improbable 11th-hour reprieve. Paris St-Germain are also poised to be punished by Uefa’s Club Financial Control Body, which was created to police “greed, reckless spending and financial insanity” in European football and will meet on Tuesday and Wednesday to make its first decisions on which clubs will be prosecuted. City and PSG are understood to be among fewer than 20 teams under threat of a sanction and, unless dramatic new evidence emerges in the next 48 hours to support their claims they have played by the rules, they are on course to be hit hardest of all. The nature and degree of any punishment will be determined in the coming days but it is understood neither team will be faced with expulsion from the Champions League. http://www.telegraph.co.uk/sport/football/news/10766475/Manchester-City-to-be-made-to-pay-a-high-price-for-spending-spree-under-Uefa-Financial-Fair-Play-rules.html -
..................but Rangers still manage to buck the trend. WITH the majority of clubs in Scotland look like they are beginning to flourish once again, KEITH says Rangers seem unable to move on from the never-ending war for control that continues to rage on in the boardroom. SO now that the football’s finished for another season, where next for Rangers? Well it won’t be Celtic Park in May anyway. Dundee United made sure of that on Saturday when, even without hitting top form, they coasted safely into this season’s Scottish Cup Final on the back of a 3-1 win, secured at “neutral” Ibrox. Jackie McNamara’s wide-eyed bunch will now bound on towards Glasgow’s east end where they will be hotly tipped to finish the job against St Johnstone – despite the Perth side’s heroics in slapping down Aberdeen yesterday. By stopping the rise of the Reds dead in its tracks, Saints have already secured their own piece of history. A first Scottish Cup Final appearance now awaits them and they thoroughly deserve this moment, even if the rest of us were gearing up for what might have been an even more mouth-watering coming together of the New Firm. In many ways, the game up here was crying out for a United v Aberdeen final but even though they have been kept apart, the ongoing resurgence of these two old foes is perhaps a telltale sign that Scottish football might be getting its act together at long last. Despite the financial earthquake which reduced Rangers to rubble two years ago and the predictions of a devastating tsunami to follow, football in this country has survived its Armageddon. Yes, Hearts remain in a critical condition but it was downfall of Romanov rather than Rangers which visited this misery upon them. Crowds may have fallen at Celtic but any downturn in interest has been more than offset by the tapping into UEFA’s Champions League millions on an exclusive basis. Aberdeen, while licking yesterday’s wounds, can at least cling on to the League Cup for consolation. Motherwell are flying high again in the league, United and St Johnstone will now end the season as success stories one way or the other. It could even be reasonably argued that our national team and manager Gordon Strachan are feeling the benefit of the administration and then liquidation which led to Steven Whittaker, Allan McGregor and Steven Naismith setting off towards the top end of English football. Naismith, in particular, is beginning to look like a genuine star at Everton and could well be Strachan’s first-choice striker for some considerable time to come. All of which is good news. Green shoots are everywhere. Everywhere, that is, except at Ibrox. Because while all around them others are beginning to emerge from this long, nuclear winter and are even starting to flourish, Rangers continue to blow themselves to pieces. This club has reached a point where it now seems unable to move on, locked into a cycle of self-abuse. While this may be the source of endless amusement for some, maybe even most, those less blinded by their own prejudices can’t have failed to notice on Saturday what the Scottish game has been missing over these last two seasons. What most certainly has not been missed are the most offensive ditties from this support’s historic song sheet and those Rangers fans who indulged in them on Saturday continue to harm their own club. They ought to be focusing on a better future rather than returning to the bad old days of F***** this and F***** that. But, for the most part, the atmosphere created by both sets of supporters was utterly compelling. In fact, there was a pulse about Ibrox the likes of which has not been felt for some time. Even though some wish fervently for this club to be officially declared dead, the more rational must surely realise that a strong Rangers is good for business. United’s fans revelled in the occasion and in the opportunity to slap a long-term adversary back down. The atmosphere generated by these old rivalries made the match even more engrossing. In fact, this 90 minutes offered a tantalising glimpse of how things might be again one day. If ever, that is, Rangers are fit for purpose as a football club. Their problems on the pitch are obvious enough. Much remedial work is required to make this team a serious contender again but none of its problems are insurmountable. No, the real issues threatening the recovery of Rangers remain off the field where this never-ending war for control still rages on. Last night Dave King launched his latest thermonuclear statement at the current board, once again calling into question the integrity and honesty of those in charge. The very idea that this regime might be covering up the depth of the club’s current financial plight should appal a support which has been misled so ruinously by the likes of Charles Green and Craig Whyte before him. I asked in this column two weeks ago: “Can he (chief executive Graham Wallace) explain why he stood up at the club’s agm on December 18 and insisted robustly that all was well when, with the benefit of hindsight, the whole world can now see that plainly it was not?” Now King appears to be asking the very same question of the board and its CEO. With the situation deteriorating rapidly – and the sideshow distraction of the football all but over – it is time for these Rangers fans to decide in whom they would rather place their trust. If they do back the board, they must be prepared to do so blindly given that they have only three weeks left to renew their season tickets and still have not seen Wallace’s 120-day business review. Which would seem extremely foolish. On the other hand, if they back King then they must be prepared, in theory at least, to starve the club of the very money it needs to survive. Which would appear extremely high risk. The adoption of such a militant stance will raise the spectre of Administration II and bring many of these supporters out in a cold sweat. But the truth is this money will only be kept away from the club if the current regime remains intransigent and unwilling to secure it against Ibrox and Murray Park. There seems no logical basis for the board NOT to bend on this one. In other words, if the worse case scenario unfolded and Rangers were forced back under, the collapse will not have been caused by rebellious supporters but by a board that may need to be broken down completely for this club to be properly rebuilt.
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This should be interesting, renewals before the 120 days. Rangers will launch their season ticket renewal campaign at Ibrox tomorrow. As reported in the Herald today, prices expected to rise by 18%.
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Rangers have secured a much-needed financial boost by agreeing a shirt sponsorship deal with internet gaming firm 32Red. The online casino company’s name will replace Blackthorn cider on the home and away shirts of the League One champions from the start of next season. A multi-year deal has been thrashed out that both parties will hope is seen in effect in the top flight of Scottish football. Ally McCoist’s men will be playing in the Championship next season, a platform sure to provide greater than usual exposure for sponsors with the presence of both Rangers and Hearts. The Gibraltar-based firm are already an established brand of backers of English club football. Barclays Premier League clubs Aston Villa and Swansea have previously worn 32Red’s logo on their jerseys and they are currently sponsors of League One Crawley Town and Newport County of League Two. The boost to the troubled Rangers revenue streams comes at the end of another turbulent week in which Dave King advised fans not to purchase club merchandise, as well as urging them to funnel season-ticket money into a trust fund, in his latest outspoken attack on the Ibrox board. The club also launched a campaign to encourage distrusting supporters to renew season tickets for the 2014-15 campaign ahead of a May 6 deadline. The success of that promotion drive is yet to be determined and the long-awaited 120-day business review of chief executive Graham Wallace remains under wraps. However, confirmation of the value of the deal that been clinched with 32Red should at least guarantee Rangers cherished income at the close of another season which has been full of financial turmoil. http://www.dailymail.co.uk/sport/football/article-2603545/Rangers-boost-coffers-signing-shirt-deal-online-casino-32Red.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490
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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11905464 Full results and report here: http://rangers.g3dhosting.com/regulatory_news_article/375
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No quotes, could have done it before, and is one of those thrown in the hat every now and then. Alas, he sure has the money to do it ... and is presumably not many people's favourite either. Daily Mirror
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When is the 120th day or has it passed? Not sure if we're counting from Wallace's appointment or the AGM. Also, what's the chances of hearing "the review is over and proposals will be out in 4 week" just to keep us hanging on? It's clear the majority of fans don't trust the board so I'm not sure how they can win hearts and minds without making a magnificent gesture which is tangible to us. Even then it'd be viewed with suspicion but our fans are easily led from the Blue Room. Obviously there's talk of a new share issue but is that realistic when they know King might walk in and scoop up the shares, assume control, and go about clearing the decks for his own people? Wallace might welcome this but I highly doubt Easdales and Laxey will. The small matter of BPH and Margerita most likely objecting to their holding and future earnings dwindling is another factor to count in which could scupper any new share issue. Negative loyal!
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Genuine question because I think Dave King could get blamed for something he is not totally responsible for. I honestly believe, after speaking to hundreds of other fans, that they have had enough of the complete and utter dross being served up on the park. Nothing to do with boardroom stuff. -
“We note today’s interim results which show a drop in revenue excluding the Sports Direct deal, a failure to address operating costs during the period to December 2013 and doubts over the cash position of the club going forward. The most important issue, and one which highlights the obvious need for substantial investment, surrounds the cash position of the club both at this present moment and at the AGM last December. The CEO, Graham Wallace, stated at the AGM that there was “sufficient cash in the business to fund the ongoing needs of the club in the near term”. It appears from both these interim results and the recent loan of £1.5m from shareholders that this statement at the AGM may have been somewhat misleading. It is unclear exactly how it could have been stated by the board at that time, with any confidence, that there was sufficient cash even for the short term and we would like Mr Wallace and Mr Somers to explain this as a matter of urgency. We would also like to address Mr Somers comments on the consequences of the possible withholding of season ticket money. We are certain that not a single one of the 6500 fans, and counting, who have so far shown interest in the idea of a season ticket trust, have any wish to withhold any money from the club. However, it would be foolhardy for fans to once again commit their money without any kind of transparency or security. The fans have shown outstanding loyalty and commitment in the past two years, both via the IPO and two sets of unprecedented season ticket sales, but we have seen that loyalty thrown back in our faces as money has been squandered. Mr Somers acknowledges how vital season ticket cash is and the need for the board to build trust with the fans. What better way to do that than to give security over vital club assets - Ibrox and Auchenhowie - to the fans in return for that much needed income? The board have publicly stated that they have no plans to use these assets for any other security, or a sale and leaseback, and so there is no impediment to them agreeing to the terms of release. For the avoidance of doubt, there is no plan to drip feed season ticket money on a game by game basis. The proposal is simply that season ticket money is paid in a lump sum, prior to the start of the season, in return for security over club assets. This will allow fans to be safe in the knowledge that no matter what happens the club’s assets will be in good hands. We also note Mr Somers statement about fan engagement but, since announcing the trust, we have had no contact from the board. Given the obvious and urgent need for investment, we would once again urge the board to accept Dave King’s offer of £30m so that both the fans and the club can move forward in harmony.” http://www.unionoffans.org/statements/ctbbhmeyvnm6jucnohohhbl3jce9ay
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http://www.gersnet.co.uk/index.php/latest-news/230-markers-and-moonbeams If there is one aspect of the Sir David Murray era that perhaps defines his time in control, it was that of the moonbeam. From the infamous 'for every fiver Celtic spend, we'll spend a tenner’ line to belated and failed promises in terms of investment as his custodianship stumbled towards being ‘duped’ by Craig Whyte; over time Rangers fans gradually realised that the success Murray brought to the club came at a great price. A cost we’re still paying for now. However, if there’s been one positive of the awful last few years, it’s that more and more Rangers fans have become cynical of the bolder claims made by the long line of chancers that attach themselves to the club. Sure, we all want to believe tall tales about tie ups with successful American sports franchises or argue we can secure impressive sponsorship deals with mobile-phone companies but I genuinely think, deep down, we now appreciate modern day Scottish football just doesn’t bring such opportunities. Of course European football may occasionally raise our profile via Champions League participation but the ‘big fish, small pond’ metaphor has never been more accurate – as much as our rivals across the Clyde may pretend otherwise. Nevertheless Rangers remain a big draw for its supporters. Incredible numbers of fans have stayed with the club through administration and our journey back from the (old) Third Division. Indeed to retain 36,000 season ticket holders during this period is something our usual critics must lose sleep over and it’s this annual loyalty which will always form the back-bone of the club’s financial future. This is why the art of the moonbeam became important as SDM started to realise his ambitions soon outweighed his ability; not just in terms of running the business successfully but being able to fund it. Quite simply our season money is the only substantial financial given each year for the club. Ticketus and Charles Green certainly knew this – even if both may have suffered somewhat since. Unfortunately, despite this seasonal show of fiscal fan passion, it remains clear the club will continue to struggle to be viable without the correct business plan and properly qualified directors. That’s why Whyte quickly failed, Green and Ahmad soon departed while other periphery figures also moved on; leaving us with the current stand- off we have now. In one corner we have the incumbent board defending itself from criticism via a rather over-long four month buffers while in the other we have Dave King applying pressure via a £50million media marker. Or is it a moonbeam? The last sentence is a bit harsh of course. After all, if anyone suffered more than most from SDM’s charismatic efforts to raise investment, it was Dave King who didn’t see much return for his £20million investment nearly 14 years ago. Ergo, when people like King talk about such matters, we need to listen and there’s no doubt his suggestions of investment levels are probably correct if Rangers are to ever genuinely challenge Celtic again at the top of Scottish football. With that in mind, I’m certainly glad he’s applying pressure to Graham Wallace ahead of his much-vaunted 120-day plan. Anything less than the £30-50million King speaks of would now look insufficient so the buck is definitely with the existing board over the coming weeks. Their overdue April reaction will be fascinating. However, all this should and must go beyond superficial sound-bites about ‘war-chests’ and/or budget cuts. We’ve heard all this before. What Rangers fans need, more than anything, are demonstrable plans of action. I, for one, don’t doubt the intentions of someone like Dave King but just because he’s a Rangers man or that he’s invested previously doesn’t mean we can have blind faith in his ideals. To obtain that faith, we need as much from him as we’re asking of Graham Wallace: namely a sound business plan which enables to club to be successful but self-sufficient in the longer term. Clearly, an element of risk and initial investment will be required to compete with Celtic in the coming years but how does this square with ensuring the club remains secure for the future? For example, wouldn’t it be dangerous to invest tens of millions into the playing squad if there are doubts over the management team and the lack of scouting? At what level is this risk acceptable without compromising the club’s ongoing progress? Now, all these questions are as valid for the current board as they are for Dave King. Yet, a couple of weeks since my two similar articles on TRS, we’re no closer to seeing genuine answers – widespread media Q&A’s or not. That remains a source of concern so we can only hope all these figureheads are aware of what we expect ahead of the next few weeks. Rangers fans undeniably want to invest in our future but not if it’s just repeating the same old mistakes of the past. It isn’t a surprise that some fans are considering their options so who will be the first to show that they have learned the lessons of the last 15 years? Markers may well be fine but moonbeams certainly are not.
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By Richard Wilson BBC Scotland There are still challenges to overcome, not least the continuing lack of a title sponsor for the Scottish Professional Football League, but individual clubs can still thrive. The level of debt being carried by top-flight teams is falling, and that presents an opportunity. Dundee United and Kilmarnock recently secured debt-reduction deals with Lloyds Bank. Two clubs whose financial priority had to be servicing seven-figure debts can now maximise the worth of their incomes. Celtic's interim results for the financial year to 31 December showed a surplus in the bank, while Motherwell, St Mirren, St Johnstone and Inverness Caledonian Thistle are all free of long-term debt. Hearts are due to emerge from administration with the Foundation of Hearts having taken over a debt-free club that will eventually be turned over to full supporter ownership when the purchase price is paid back through fan subscriptions. Ross County's rise up the leagues has been enabled by the largesse of Roy MacGregor. Hibernian and Aberdeen are still carrying debt, around £5m and around £9m respectively, but there is an appetite within Lloyds Bank to seek an outcome that protects the community aspect of football clubs, as seen in the deals struck with Dundee United and Kilmarnock. The effect is to present Scottish football with a chance to redraw its priorities and establish a time of financial stability. "Banks are taking more of a pragmatic view, which says that what we really want is out of this situation, so we will do a deal, if that makes sense, and if the club can sustain itself," says Charles Barnett, the professional sports group partner at BDO, whose annual review of football finances will be published at the beginning of next season. "There's been one or two clubs recently, like Motherwell, who since they got out of their [financial] troubles have regularly reported a break-even type model. That doesn't mean breaking even every year, but over a period of time, so a small profit one year and a small loss the next. John Souttar (left) and Ryan Gauld are two of Dundee United's brightest talents. John Souttar (left) and Ryan Gauld are two of Dundee United's brightest talents. "We have less sponsorship income in general around the country, TV revenues aren't going anywhere at the moment and attendances at some clubs are doing well and falling away a bit at others. It's an incredibly challenging environment. But this is an opportunity." The removal of debt burdens allows clubs to focus on reinvesting in sporting performance. Dundee United offer a prime example, since the club's youth development programme has delivered a regular supply of promising young talent into the first-team squad. Transfer fees were inevitably required for the likes of David Goodwillie - £2m to Blackburn Rovers - and Johnny Russell - £750,000 to Derby County - since United had debt payments to service. The Tannadice club can drive a harder bargain now that a group of fan investors have contributed to the wiping of £4m in debt . Clubs will covet the likes of Stuart Armstrong, Ryan Gauld, John Souttar and Andrew Robertson, but United are under no pressure to sell. This allows Scottish clubs more leeway in attempting to keep young talent in the country for longer before the financial pull of the English game eventually draws them south. Aberdeen are among those who have suffered from losing players before they establish themselves in the first team, with Jack Grimmer leaving for Fulham when he was 17 and Ryan Fraser leaving for Bournemouth at 18. Hibernian and Hearts have established a strong reputation for developing young talent, and Scottish clubs can exploit the worth of that reputation. English teams will always be able to offer higher wages, but many young Scots, like Goodwillie and Grimmer, have travelled south and seen their careers stall. To keep young talent in the country for longer, and to the benefit of Scottish football, players need to be certain that their game will develop further through regular first-team experience. That will enable them to become better and so still attract a future transfer, but clubs needs to be financially stable enough to make decisions based on sporting rather than income merits. "The stronger the club's financial position, the stronger they can be in the transfer market," says Ross Wilson, formerly head of football development at Falkirk and now head of football operations at Huddersfield Town. Continue reading the main story “I'm struggling to think of a club that has made significant investment in its youth academy and not managed to produce players” Ross Wilson Falkirk's former head of football development "But also, the stronger the club's brand becomes in terms of being regularly capable of producing young players, so they can eventually leave at a premium. "For example, Crewe Alexandria are a League One club, but when they sell players it's at a premium compared to clubs around them, because historically they have a reputation for being a strong developer and seller of players. "That could be replicated in Scotland, with clubs consistently producing players for the first team." Most clubs will have no option but to live within their means, so the ideal is to improve those circumstances. The benefactor model has been undermined following the financial collapses of Hearts, Rangers and Motherwell, while supporters are less inclined to welcome investment for the purpose of making a return because sporting performance needs to be the priority. There is also little wealth to be made in the Scottish game when external revenue streams are so modest. "No bank is prepared to lend new money into the sector in Scotland," says Barnett. "Therefore clubs have to learn to live within their means. And what's the purpose of a football club? "In my view, the objective should be to operate a balanced budget over a period of time, not making big or regular small profits." Youth development, smart player trading, all from a stable financial basis, offers Scottish football clubs an opportunity to build a sense of optimism. Supporters also tend to bond with home-grown talent, while the national team will benefit from a growing emphasis not only on academy graduates, but finding a way to keep them in Scottish football for longer so that if they eventually leave for England, they are better able to thrive at a higher level. "I'm struggling to think of a club that has made significant investment in its youth academy and not managed to produce players," says Wilson. "If you're making proper investment in it, in terms of the structure and the people you bring in, then it reaps the rewards of players being produced and being sold."
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DAVE King will help rebel Rangers fans to finalise plans for the formation of a trust for season ticket money at talks in Glasgow this weekend. And supporters are set to show their backing for the South Africa-based businessman at the game with Dunfermline at Ibrox tomorrow. The Union of Fans - an umbrella organisation comprising six supporters' groups - will distribute 30,000 blue cards to spectators at the SPFL League One match. And they will be asked to hold them up in the 18th and 72nd minutes of the match and "paint Ibrox blue" to underline their backing of the former director. The Union want the current board to accept the wealthy Scot's proposal to inject fresh share capital into Rangers. Union spokesman Chris Graham said: "The club clearly needs investment and Dave King has stated his willingness to provide it. "We hope that fans will take the opportunity to show their support for someone with a track record of supporting Rangers both personally and financially. "Hopefully the board will realise the strength of feeling on this issue and adopt a less adversarial approach in their future dealings with Dave King. "Fans should not underestimate the power they have to push for positive change at another critical time for the club." King has spent the last two days in London speaking to institutional investors in Gers about whether they would back his plans for the Ibrox club. The 58-year-old, who previously invested £20million of his personal fortune in the Light Blues, will now meet with the Union and the current board of directors over the weekend. He is urging fans to pool their season ticket money and only release it to the club on a "pay-as-they-play" basis when their questions are answered and their demands are met. The Castlemilk-born financier has vowed not to return to his adopted homeland until a trust for pooling season ticket money is legally in place. King's visit follows the news that Rangers had agreed a £1.5m loan for "working capital" with shareholders Sandy Easdale and Laxey Partners, secured on Edmiston House and the Albion car parking facilities. The revelation that Laxey Partners will make a £150,000 profit on the loan when it is repaid in September has also angered fans. Wealthy Rangers fan George Letham has volunteered to loan the Ibrox club the money on better terms and officials are believed to be considering his proposal. Documents lodged with Registers of Scotland, the country's official land and property register, have shown that Rangers will use season ticket money to repay the loan. http://www.eveningtimes.co.uk/rangers/king-to-set-out-pay-as-they-play-scheme-to-rangers-fans-155805n.23693712
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From BBC website: Kilmarnock close to major debt reduction deal By Richard Wilson and Jim Spence BBC Scotland Kilmarnock are set to announce a deal that will see the majority of the club's £9.4m debt written off by Lloyds Bank. The agreement would involve the chairman Michael Johnston retaining a reduced shareholding in the club. A company headed by local businessman Billy Bowie would take ownership of the hotel, which has been valued at around £2.5m. Johnston and Bowie would also be joined on the board by three new directors. Kilmarnock would be left essentially debt free, while the company that takes ownership of the hotel adjacent to the stadium would take on the remainder of the bank debt, thought to be between £2.5m and £3m. Negotiations have been ongoing for weeks, and became more pressing after the Kilmarnock Futures Consortium - a group of local businessmen - pulled out of takeover talks. It is understood that Bowie will provide an injection of working capital to sustain the club until season tickets are sold later in the year. The three new directors are also likely to provide additional funding, once they have been voted onto the board. Clauses are thought to be included in the agreement that would prevent individuals benefitting from the sale of assets in the future, which would effectively secure the long-term future of the likes of Rugby Park for the Kilmarnock community. Some of the forthcoming investment in the club would, though, be required for stadium maintenance work. The deal would free Kilmarnock from the burden of meeting the repayments on a large debt, but the club would also lose the revenue stream from the hotel, which is a profit-making business. Johnston has stressed at previous annual general meetings the importance of that revenue stream to the club. However the debt, which was accrued in the building of the hotel, was holding Kilmarnock back. Some supporters will remain opposed to Johnston's continuing involvement, and will remain committed to the Not A Penny More campaign that was launched in a bid to oust the chairman. Other fans, though, will accept that a deal had to be struck and one of the consequences is that Johnston is no longer the sole authority at the club and that the board has been opened up to new directors. The Kilmarnock sponsors, QTS, will also continue to back the club in a kit sponsorship deal worth around £250,000. Alan McLeish, the owner of QTS, was a member of the Kilmarnock Futures Consortium that withdrew from takeover talks with Johnston, but he remains committed to financially backing the club.
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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
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GORDON backs Hearts' incoming chairwoman to revive the club while lamenting the damage done by the would-be saviours at Ibrox. THE definition of altruism: When the answer to the question “What’s in it for you?” is “Nothing”. That’s Ann Budge for you. Sixty-five years old, self-made multi-millionaire, family woman, treasures her privacy and relative anonymity, sees her Saturday afternoons as sacred time with her daughter and grand-daughter in Section D of the Wheatfield. What could possibly be in it for her to commit herself to four or five years inside the washing machine of Scottish football? Nothing. Not a single thing. Which is why Hearts fans should be eternally grateful that she has. And, as I wrote back in September, Rangers fans should be peering east, mournfully lamenting what they could have had. The deal to take Hearts out of administration and forward is the result of months of good leadership, good governance, good PR, good organisation and, most of all, good intentions. And what they’ve emerged with is the perfect template for the handover from tyranny to the terraces. Make no mistake, Budge’s role will not be passive. She’s no figurehead. She’s real. Incongruously, for fan ownership to succeed in the long run, they’re going to need her to be a strong individual, making hard-headed decisions that would be impossible to arrive at if the club were being run by committee. Her job is to hand Hearts over in the best financial health she can create in as short a time as possible. And the only way that won’t happen is if Jambos fail to live up to their end of the bargain. That’s why they’re lucky to have her. She’s the anti-Craig Whyte, the anti-Charles Green. As executive chair, she’ll be working five days a week pro bono. She’ll be arriving at conclusions plenty may disagree with but the one thing no one can dispute is that she’s doing it for anyone’s benefit other than Hearts. There’s a legal agreement that she has to hand the club over to the Foundation as and when they hit their pre-agreed targets. She can’t change her mind, can’t flog them to a predator who fancies the place for himself when they’re back on an even keel. What that means is the fans have to create the bank of last resort for the club with their membership scheme, the financial cushion for the months where there’s a shortfall, where the season ticket money has run dry and the commercial income is a struggle. All they have to be able to do is prove that in the absence of support from an actual bank, they will never get back to the day when the wages won’t be in the bank. And there’s no reason they can’t. At the moment the Foundation of Hearts bring in £130,000 a month in direct debits. That’s £1.5million a year as your slush fund. The season tickets, corporate and commercial income, sponsorship, catering and anything else they can raise funds from provides their working capital. If they do all that? If they create a model that washes its face? There’s no reason why a club of their stature, with their support, can’t be golden in four years’ time. And in the meantime? What a Championship it’s going to be next year. A tale of two clubs from two cities whose stories over the past two years may as well have come from two different planets. The team who’ve done everything right to get out of administration against the team who’ve had every wrong imaginable done to them. Rangers will be looking at Hearts and thinking, “If only...” To be fair, their Supporters’ Trust still have faith they can make it happen. But when they needed the kind of altruism Budge offered Hearts, they got shafted. Twice. When they needed a Jim McColl, he ran shy. And when they needed unity of purpose, they fragmented. Even now, their intentions may be there. But neither the Easdales nor Dave King as a potential investor seems prepared to engage in the idea that the club need a move towards fan membership and ownership for the long-term good. They’re still saddled by the “What’s in it for me?” brigade and as long as the answer is “plenty”, they’re fighting a losing battle. But you know what? Despite the fact that Hearts’ total budget next year will probably be around the £1million mark, less than 20 per cent of Rangers’, if it’s spent well, they could challenge the assumption the Ibrox club will stroll through that league the way they’ve strolled through the last two. If they can get 16,000 inside Tynecastle every week, create a cause the way Hibs did when they went down in 1998, the way Rangers’ fans did when they went into the bottom tier? Keep the best of their kids, get a few course and distance guys in to help them when the embargo goes? Get a little momentum going? It’s going to be a hell of a race. http://www.dailyrecord.co.uk/sport/football/football-news/gordon-waddell-altruistic-ann-budge-3151057
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Derek Johnstone: SO much has happened on and off the park since Rangers were put into administration by their former owner Craig Whyte two years ago this week. The Ibrox club have gone through three different chairmen and three different chief executives. A great deal of money has been brought into the club. Unfortunately, a great deal of money has gone out of it as well. Never mind the £22million or so that was raised in the IPO back at the end of 2012. There have been two tranches of season ticket money taken in that I believe were worth in the region of £18m. With all of the other revenue, from sponsorship deals and other commerical intitiatives, it is scandalous that the club is now running out of money. A lot of people have walked away with many times what they invested bulging out of their back pockets. They have plundered the club. I feel sorry for the latest chief executive, Graham Wallace. He is the man charged with sorting out the mess his predecessors made. But I am and always have been a glass half-full kind of person. And I do think Rangers have, at long last, got the right person in place to sort out the situation. For the first time in a long time I can see a glimmer of light at the end of the tunnel. Graham is a football man. He has experience of working at a major club, Manchester City, in the past. It is the first time in many years that somebody like that has been in a position of authority at Ibrox. Graham has done and said all the right things since being appointed back in November. He has asked for 120 days to identify and then address the issues affecting the club. He is currently working 24/7 to do that. If anybody can turn things around he can. The most important factor throughout what has, without doubt, been the most difficult two years in the history of the club has been the backing of the supporters. It is so vital that they remain firmly behind the club now and continue to buy season tickets in numbers and purchase club merchandise. I would hope the fans can see that in Graham Wallace they have the right man to take the club forward. He is speaking to a broad cross-section of the support and keeping them informed of what is happening at the club. In the past, they were kept at a distance and that was wrong. The paying customers can be certain their hard-earned will not - as has, alas, been the case in the past - go right out of the window with Graham at the helm. He knows what the club can and cannot afford to spend. He knows that there are going to have to be changes. And he will, in time, make them. I also think that Rangers needs fresh investment. From Glasgow, from London, from the Middle East, from wherever. But I am sure club officials are looking at that. I would certainly believe what he tells us and not others who delight in trying to run the club down. Despite the difficulties Rangers is facing, it is still a massive club, with a huge fan base, great facilities and enormous potential. http://www.eveningtimes.co.uk/rangers/rangerscomment/derek-johnstone-golden-graham-is-the-man-to-unearth-silver-and-bank-152040n.23426812
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While looking how Albion Rovers would welcome the news about their Quarterfinal at Ibrox, I stumbled upon their Squad Fund page ... Reflecting on our stay in SFL 3 last season, Division One this campaign, various cup games and all, has it actually been determined how much money has been handed down to the ailing lower league sides due to our predicament? I would reckon that e.g. Albion Rovers' would be safe from nigh anything thanks to next month's QF tie, as we hand half of our money to them under cup rules? Enforced stay or not, I wonder whether the former SFL 3 sides, nor the Division One teams have anything to complain about?
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.........and steer club into fan control 1 Feb 2014 07:56 PAUL GOODWIN believes the Light Blues legions could own the Ibrox club within 18 months following successful attempts by Hearts and Motherwell. SUPPORTERS DIRECT chief Paul Goodwin believes Rangers fans can assume control of their troubled club within 18 months. Goodwin, the head of SD in Scotland, has long championed the importance of community ownership within our national game. And he is convinced the Ibrox faithful can overthrow the current regime – providing they mobilise themselves into one powerful movement and start pulling in the same direction. At the moment there are four main fan organisations – The Rangers Supporters Trust, The Rangers Assembly, The Rangers Supporters Association and the Sons of Struth – with all groups battling for supremacy. But Goodwin, who helped oversee fan buy-outs at Stirling Albion, Clyde, Dunfermline and East Stirling has called for them to unite as one. Indeed, given the lack of trust in the current board, the lack of transparency, the current climate of financial uncertainty along Edmiston Drive and the plunging share price, he reckons this is an ideal opportunity to get the bandwagon rolling. Goodwin said: “I believe if the Rangers fans united, and that is the key, into one cohesive unit there is no reason why they can’t own the club within 18 months. “At the moment we have 8000 Hearts supporters paying £20 a month as they move towards fan ownership and if you have 20,000 Rangers fans doing the same you can go out and buy shares because it is a liquid market. “The simple maths say 20,000 fans paying £20 a month would give you £4.8million in a year. “It just needs the right type of people to pull that together and that is the hard part for Rangers. “I don’t have any doubt it can be done. SD have been working in conjunction with clubs right across Europe. “In Greece you have Olympiakos and Panathinaikos and there are plenty of clubs in Spain, Poland and France who are also going down this route. “Hearts are the biggest we know of in this country going down the route of fan ownership at the moment.” The Rangers share price has plummeted in recent months, from 70p to just 26p and for just over £4m, fans would be able to command a 25 per cent stake in the club. And Goodwin insists the Ibrox outfit’s supporters have nothing to lose pursuing the community ownership route having given their backing to the Craig Whyte and Charles Green regimes with catastrophic consequences. He said: “I believed that Rangers being placed into administration represented a significant window of opportunity to buy the club. “Of course, as we know, this didn’t happen for a variety of reasons; mostly because for many years the fans had been divided and ruled by previous owners of the club and had been left without a united voice, forced to pick sides in amongst political infighting. “Time has moved on and Rangers have unfortunately continued to be dogged by further challenges at the back end of the administration process. “It could have been so different if a credible fans’ bid had been used to galvanise the Ibrox faithful as we have seen at Dundee, Dunfermline Athletic, Portsmouth down in England and of course at Hearts. “Rangers supporters in the past have been used to following leaders whether it be Paul Murray, Craig Whyte or somebody else. “This is breaking the mould and now they don’t have to follow anybody. “What can the objection be? “It can give the fans the empowerment to pick exactly who they want to represent them. “We have four clubs in Scotland that are currently fan owned and we have another four waiting in the wings – Annan, Ayr, Motherwell and Hearts. It is the way forward because there is no other route.” Goodwin confirmed he has already spoken with supporters’ representatives from Rangers. He said: “I have been talking with them over the past 10 days and I will continue that dialogue to see whether there is something we can do. “There is a real opportunity here and I don’t think there is anything to lose. “We can advise and consult but it is ultimately up to them. “Some people have to emerge from the shadows and then we can give them all the support possible.” Goodwin was speaking at the launch of ‘The Colour of our Scarves’ initiative which has been organised by Supporters Direct to help highlight the issue of sectarianism. World renowned photographer Stuart Roy Clarke has been commissioned to produce a series of images captured at every senior ground in Scotland. The project has been funded by the Scottish government and Goodwin is hoping the sectarianism problem can be tackled through imagery rather than words. He said: “We wanted to try to demonstrate through Stuart’s amazing pictures that all fans are the same, apart from the scarves around their necks. “It is the same emotions that bind us all together and that was the reasons behind the project. “We are going round every single ground and also doing loads of workshops in schools and colleges. “It is becoming less of an issue but you need to keep working at it.” Clarke, who singled out Aberdeen as his favourite fans to photograph, has been amazed by the reaction to his pictures which will be on show at a touring exhibition around the country over the next 18 months. He said: “The response has been overwhelming. “While I like banter and edginess I don’t like hatred so hopefully this project can make a small difference to a big problem.” http://www.dailyrecord.co.uk/sport/football/football-news/supporters-direct-chief-calls-rangers-3100404
