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THE flames have been licking around his feet for the past two weeks. His revelation that the banks are running Rangers placed him at the eye of a ferocious financial storm. Yet this crisis management lark is nothing new to 61-year-old Walter Smith. The Gers gaffer reckons he's been fighting the fires which threaten to engulf the Ibrox club for the past TEN MONTHS. By his reckoning, nothing has changed since January. Every player in his squad remains up for sale. And that's why Smith reckons his side's participation in this season's Champions League is all the more remarkable. In an emotional meeting with his players last Christmas Smith warned them of the financial crisis looming large. He told them they all faced an uncertain future. If they'd let the title slip on that last day at Tannadice Smith could not have blamed them. But instead the boss watched in awe as his players put their woes to one side and summoned the spirit to deliver Rangers' first championship in four years. That's why Smith is backing those same players to restore some pride in Bucharest tonight. The Ibrox chief said: "In the last few games we've certainly been brighter than we have been. We've been inconsistent but the signs are there. "The players are handling things better than they were. "But I don't think it has anything to do with what is going on off the field. "People seem to think the circumstances that have been documented in the past two weeks just happened a fortnight ago. "That's rubbish, all this happened last January and the players have handled that. "They've done brilliantly to handle that. "It's not easy to sit down with a group of players and tell every one of them that they're up for transfer. You still then expect them, as they did, to go on and win a championship. "The players have done really well. We've not lost a domestic game this season. "They have been inconsistent and while the circumstances surrounding the club don't help, they certainly haven't hindered the players. "They've handled all of this for six months prior to the start of this season. We did well but we have dipped this season, that's something we're working hard to rectify." Pride, and more importantly Champions League points, are at stake for Gers tonight. Advertisement Humiliated at home by Dan Petrescu's Euro rookies a fortnight ago, they must put the shame of that crushing defeat behind them. Yet Smith knows his side will face another tough test in front of 25,000 baying Unirea fans. He said: "We have set out to win all of our games but we haven't managed to do so. "It's now up to us to acquit ourselves a bit better than we have done so far, even if we feel a little aggrieved at losing the last two games 4-1. "We still have three games to go and we have an opportunity to qualify from the group. It's down to us to turn it around, starting with this game. "We've had some terrific away performances before but we achieved them through hard work. We'll need to replicate that over here. "There has been an edge missing from our game. There is no doubt about that - and now we have to get it back." Smith slammed his side's defending two weeks ago and insisted last night: "The one thing we do need to do, regardless of overall play, is defend set pieces better than we did in the last game. "We lost three goals from straight forward set plays and a fourth from a quickly taken free-kick which caught us out. "We have to show we can handle those situations better. "It's not very often you lose a game from three deflected set plays but it happened." Away from home Smith has stuck rigidly to his tried and tested 4-5-1 formation. The tactics have delivered success, but prompted criticism by those who want to see a more attacking approach, and Smith hinted that he may go with two up front tonight. He grinned: "We will play forward players although I must admit, I'm frightened if I do play a lot of attacking players that people will say 'There's Smith attacking now' I'd hate to lose my image! "But the most important thing will be the attitude of the players that we use. We need to rediscover that edge to get a good result." http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/2712288/I-can-bank-on-my-boys.html

Please be true!

Star asset Madjid Bougherra has told Rangers that he is determined to stay at Ibrox for the rest of the season. The French-born Algerianââ?¬â?¢s declaration will delight fans - but worry the bankers lurking in the background at Ibrox as Sir David Murray seeks a buyer for the cash-strapped club. Sportsmail revealed last week that Wigan want to test the water with a Ã?£3million bid for the defender when the transfer window opens in January. But Bougherra insists his stance has not altered since last summer, when he revealed his plans to win a move to a ââ?¬Ë?top-sixââ?¬â?¢ English club by starring in the Champions League for Rangers and the African Nations Cup and World Cup Finals for Algeria. Under contract until 2012, the 27-year-old has the right to reject any potential transfer, just as Kris Boyd blocked his move to Birmingham last January - no matter how much Rangers might need the money. ââ?¬Ë?I have not changed my intentions from last season,ââ?¬â?¢ said Bougherra, who will miss Wednesday's vital Champions League return with Unirea in Bucharest because of a knee injury. ââ?¬Ë?I will definitely stay in Glasgow and I will finish the season at the club. I love life at Rangers and I am sure they will find an investor and things will work out. ââ?¬Ë?I feel great in Glasgow and, plus, I need stability, because it is one of the keys to success and progress, especially on the eve of the African Nations Cup and a World Cup, hopefully.ââ?¬â?¢ Enlarge Walter Smith and assistant Ally McCoist All smiles: But rangers boss Walter Smith and assistant Ally McCoist know their team need a positive Champions League result on Wednesday Bougherra, who has missed the last four games and Sundayââ?¬â?¢s abandoned fixture at Tannadice, is confident Walter Smithââ?¬â?¢s players can still have a successful season despite indifferent form and off-field concerns. ââ?¬Ë?It has not fallen for us in recent weeks because we have had so many players injured in key positions,ââ?¬â?¢ he said. ââ?¬Ë?We havenââ?¬â?¢t had a full team and that explains some disappointing results. ââ?¬Ë?We play in Romania on Wednesday and we know that we absolutely must win to have a chance of getting to the next round of the Champions League. ââ?¬Ë?I wonââ?¬â?¢t play in this game because a knee sprain requires at least four weeks of rest, and I am in my second week. But my heart is with my team-mates and I really hope they come back with a good result.ââ?¬â?¢ Rangers fans and management will be intrigued to see if Bougherra is fit to face Egypt with Algeria in a fortnight in a crucial World Cup tie. Lee McCulloch will fly out with Smithââ?¬â?¢s squad and, if he is required in midfield, there could be a European bow for 17-year-old defender Danny Wilson. Injured pair Maurice Edu and Kirk Broadfoot will continue training this week, with a bounce game scheduled for next Tuesday to help the Scot step-up his return to fitness after being out since March. Meanwhile, Ibrox chief executive Martin Bain has thanked fans for their support amid takeover speculation. ââ?¬Ë?It has been a difficult period for fans both in regard to results and speculation about the future of the club,ââ?¬â?¢ said Bain. ââ?¬Ë?However, they have stepped up to the plate in their thousands to voice their support. ââ?¬Ë?The overarching message from the fans is that the interests of Rangers must come first and foremost.ââ?¬â?¢ Read more: http://www.dailymail.co.uk/sport/football/article-1224839/Rangers-star-Madjid-Bougherra-insists-happy-stay-rest-season.html?ITO=1490#ixzz0VkmmKUTC

After all, you would think, following the most turbulent week experienced at Ibrox since Mo Johnston turned up in a blue jersey 20 years ago, that the club was on its uppers and the bailiffs at the door. In fact Rangers' debt ââ?¬â?? even allowing for the absence of current trading figures ââ?¬â?? is only a fraction of their turnover. A large fraction, to be sure ââ?¬â?? somewhere between a third to a half of annual revenue ââ?¬â?? but where does that put the club? The answer is, on the one hand, well behind Celtic, whose near-elimination of the need for an overdraft suddenly looks a lot less like penny pinching and much more like prudent fiscal stewardship, as I am sure nobody will make a point of saying at the Parkhead annual general meeting today. Celtic might be a little more sombre about this season's home record, which was dented yet again on Wednesday, this time by Hearts. That would be Hearts who, like Kilmarnock ââ?¬â?? just to pluck another example from the SPL ââ?¬â?? are in hock to the tune of multiples of their turnover, something like three or four times what they can earn in a year. In fact, the last figures available for Hearts show that the Tynecastle club was Ã?£30.47 million in debt ââ?¬â?? and that was after a debt-for-equity transfer agreement with its parent company, UBIG, worth Ã?£22 million. Mind you, Vladimir Romanov was basically rearranging the piles of money he owed to himself, as Sir David Murray used to do at Ibrox when Rangers were much, much deeper in the red than they are now. Which brings us back to the basic question ââ?¬â?? why have Lloyds waded into a situation which invites exactly the sort of adverse publicity ââ?¬â?? reaction from angry supporters ââ?¬â?? that sober-sided financial institutions traditionally shun? Well, you and I are partly responsible, assuming that we are both UK taxpayers. We own 43 per cent of the bank, which has cost us a tidy Ã?£17 billion. Lloyds has actually repaid Ã?£3 billion, but may need another Ã?£25 billion, which would involve a rights issue ââ?¬â?? the same wheeze Murray used to reduce Rangers' debt when it went stratospheric a few years ago. Why does Lloyds need more money? To keep it out of the government's toxic debt insurance scheme. Wot's dat, you ask. It's a plan to make the biggest banks identify their stinky loans, so that a safety net can be set up in case all the bad debt falls due at once, causing another economic crisis, exactly like the one we just had. And why does Lloyds not want to be insured against its rubbish debts? At this stage, I must turn the issue over to our esteemed colleagues on the business pages ââ?¬â?? or Bremner, Bird & Fortune. But the upshot is that Lloyds' banking hit-teams have been crawling over the accounts of everybody who owes them a rusty penny. Rangers, as I say, are not particularly culpable in this respect, but nor are the very many businesses who have been shell-shocked by the bank's urgency to claw back whatever cash in hand might be available and hawk off anything else that might raise a quid or two. One Scottish newspaper this week asked if Rangers have breached the terms of the club's banking covenants. A leading Scottish entrepreneur provided this column with the answer when he said: "The bank has come into hundreds ââ?¬â?? maybe thousands ââ?¬â?? of boardrooms, looked at the books, ripped up the existing covenants and slapped down new pieces of paper with very tough demands on them. It's not just Rangers." No, it's not. Murray's stake in Rangers is operated through Murray International Holdings. Four years ago, MIH funded its biggest ever period of growth with bank loans of over Ã?£500 million ââ?¬â?? but, hey, turnover was Ã?£600 million and the good times were rolling. At the last publicly available count, MIH owed Ã?£751 million, ââ?¬â?? some observers believe the next figures will be even higher ââ?¬â?? but the turnover was down and the profit negligible. So what are the options for Rangers now? A prospective owner (or owners) could buy Murray out and service the debt ââ?¬â?? or even increase it, as the Glazers have done at Manchester United. Or the new owner could acquire Murray's stock and pay off the overdraft. There are other options, too, but whatever happens, there is a complex web of relationships to unravel ââ?¬â?? Lloyds own a stake in MIH, for example. As for who runs the club, the bank is, of course, correct to say that it is not in the business of conducting the day-to-day affairs of the business it funds. But hard-nosed interrogations about business plans, turnover and cash flow have become routine in boardrooms, as have heated exchanges with the bank's representatives about how companies are supposed to conduct their business under such pressure. Rangers have not been an exception. If you doubt that, consider the utterances of another bloke called Johnston who arrived at Ibrox with a fanfare last month. Alastair Johnston, the new chairman, said: "I want to give the current management team new contracts. That is not reliant on outside finance." Then he added: "We are not run and operated by the bank but we do rely on the bank for finance. If Rangers were run by the bank, I would not be here." Uh, OK. Which leaves us with one other keynote statement from the incoming chairman, one in which he set out how the club would identify a suitable buyer. I leave you to judge it for yourself. "Rangers are going to do this in the manner you would expect of ââ?¬â?? Rangers; subtly and with class and without putting ourselves up for sale. I'm not interested in bottom feeders." How Smith managed the news One reads that Walter Smith has been, according to your pundit of choice, ââ?¬Å?embarrassedââ?¬â?¢Ã¢â?¬â?¢, ââ?¬Å?incensedââ?¬â?¢Ã¢â?¬â?¢ or ââ?¬Å?humiliatedââ?¬â?¢Ã¢â?¬â?¢ by Lloyds Bank issuing a statement to say that they do not run Rangers, after the Ibrox manager declared on Saturday that they did. Well, Walter might have been all of those things, but surely that was last week, when Unirea thumped Rangers 4-1 in what, by common consent, was the worst European result in the clubââ?¬â?¢s history. You remember ââ?¬â?? the Champions League game after which the incandescent punters roaming the streets outside the stadium jostled to deliver their verdicts to the TV news cameras. Much of the footage, being couched in terms of extreme profanity, could not be used. However, the gist of what was salvageable was clear enough ââ?¬â?? ââ?¬Å?Smith must go! Now!ââ?¬Â Four days later the manager issued his state of the nation address about the plight of the club, taking care to issue separate briefings to Sunday newspapers, the dailies and the broadcast media. At once the phone-ins and online chat rooms were deluged with messages of support from Rangers fans standing four-square with the gaffer. I do not know whether this qualifies him for the Pulitzer Prize for Journalism, but for services to the entertainment industry one might suggest another accolade. Arise, Sir Walter! http://www.telegraph.co.uk/sport/football/leagues/scottishpremier/rangers/6463025/Rangers-debt-is-only-a-fraction-of-their-turnover-so-why-is-there-all-this-fuss.html

Just wondered if the caused more trouble than they were worth. Given the fact that the team were playing crap and we had just suffered another humilating defeat at the hands of a bunch of also rans that will be etched in the History of the club , you have to ask your self if the wily old fox was being as coy as ever. And for what its worth i dont think he would have made such a remark without the blessing of certain board members. He successfully managed to deflect all the heat and critisism that was going his way but at a heavy cost to the club. We have been racked over the coals since his outburst and he has slipped away scot free.... again. Now the farore has died down not alot if anything has happened or changed as a result of his comments. The media have printed thousand of articles on the subject without any tangable evidence and we have been met with a wall of silence from the club. so we are none the wiser. We will have to wait till the transfer window for the full impact of the banks involvement in the board room. Dare say that there will be a few out the door come january but i think we knew this would allways be the case. in the end it was much ado about nothing.

Published on 1 Nov 2009 Talks have been held about inviting thousands of Rangers supporters to help fund a rescue package for the financially-stricken club. South Africa-based millionaire Dave King remains the leading contender to buy out current owner Sir David Murray, with his intentions expected to be revealed this month. Scotland-based businessmen Douglas Park and Paul Murray have also been linked to a joint bid with Mr King to rescue Rangers, who are Ã?£30million in debt, but no moves have yet been made. But the Sunday Herald can reveal that tentative talks have taken place involving parties interested in taking over Rangers about creating a revolutionised club answerable to "members", who would pay an annual fee on top of their season ticket costs. This is the successful and popular model of "social ownership" found at leading clubs such as Barcelona and Real Madrid in Spain. Essentially, this could be ââ?¬Ë?Plan Bââ?¬â?¢ if Mr King, or others, donââ?¬â?¢t emerge and firm up their interest in the club. The proposal would mean thousands of rank-and-file Rangers fans investing to lend financial muscle to some of the parties interested in taking Turn to page 2 Rangers out of the grip of Lloyds Banking Group, which has stepped in after the club fell into heavy debt under Sir David Murray. In return, the fans could have perhaps 33% or more of the shareholding as well as a couple of representatives on an entirely new board of directors. With money being poured in by thousands of fans, as per the Barcelona model, Rangers could become the first major members-owned club in British football, albeit that a handful of significant investors would have large individual stakes and would occupy some of the office-bearing positions. The extent of Rangersââ?¬â?¢ financial crisis was revealed last weekend when manager Walter Smith claimed the bank was running the club. Lloyds subsequently denied that but the bankââ?¬â?¢s interests are now represented on the board by new director Donald Muir. Rangers will not sign any new players in the January transfer window and may have to sell a senior one such as Steven Davis if Lloyds is determined to claw back Ã?£3m of the Ã?£30m owed to it. Sir David still owns 92% of the shareholding, but essentially Lloyds is dictating the terms of any eventual takeover. Mr King is uncomfortable about the current asking price and is now involved in a game of poker with the bank, which is believed to have been left reeling by the reaction from the Rangers support at large after our sister paper, The Herald, revealed the extent of their influence, the threat of administration and plans for swingeing cuts. Mr King is worth up to Ã?£300m but he is reluctant to meet the asking price of Ã?£1 for every Ã?£1 of debt ââ?¬â?? Lloyds is holding out for Ã?£30m ââ?¬â?? in the hope that it will eventually drop. Nothing will happen until Lloyds or Mr King change their stance. But if Mr King eventually walks away from a potential deal, others could step in and then ask fans to become fee-paying "members" in order to build a serious reserve of cash. The success of the venture would rely on the businessmen demonstrating that they were answerable to the fans who pay to become members. Fans spokesman David Edgar last night told the Sunday Herald that opening the club to ownership by members was an exciting, innovative idea. He claimed supporters would answer the call. "We have been exploring various avenues towards this with some of the potential investors," said Mr Edgar, of the Rangers Supporters Trust. "I think there is an interest and a desire in a sort of joint initiative, where you would have a major shareholder and also the fans playing a significant role in the club. I know this is something people are investigating. "Any new regime coming in has to understand that the fans do want to work with them. "But I would say that from the people we have been speaking to there are positive noises about that. "They understand that having the fans onside ââ?¬â?? via a membership scheme where people can invest and contribute to the football club, and have a say in the football club ââ?¬â?? works well abroad." Rangers fans could, for example, be asked to pay Ã?£1,000 each to become members, with payments spread over five years. At that level 30,000 fans buying membership would raise Ã?£30m. Sir David tried a share flotation in 2004, when Rangersââ?¬â?¢ debt soared to almost Ã?£74m, but it was snubbed by supporters. Of the Ã?£51m raised at the time, Sir David himself contributed Ã?£50m. "That was effectively a referendum on David Murrayââ?¬â?¢s performance," said Mr Edgar. "That was the fans saying ââ?¬Ë?you got us into this, you have to do something about itââ?¬â?¢. "If there was a new, dynamic, go-ahead regime coming into Rangers the fans would want to get involved and theyââ?¬â?¢d want to back it." Meanwhile, supporters upset by how Lloyds has introduced an unforgiving budgetary plan at Ibrox will protest with banners during todayââ?¬â?¢s SPL match against Dundee United at Tannadice. The banners will refer to new director Donald Muir as "the enemy within". http://www.heraldscotland.com/news/home-news/rangers-rescue-plan-b-ask-fans-to-help-buy-the-club-1.929642

I don't know if this has been posted before but it answers a lot of questions i had about why Rangers were so important to Lloyds.

Here we go again!!! by Matthew Lindsay FORMER Rangers boss Alex McLeish is lining up a �£3million bid to lure Ibrox midfielder Steven Davis to Birmingham City in the January transfer window. And if no new buyer is found for the crisis-hit Gers soon then McLeish, who has also been linked with moves for Celtic duo Scott Brown and Aiden McGeady, will definitely get his man. McLeish has been handed a bumper �£40m war chest by new Birmingham owner Carson Yeung in order to safeguard the St Andrews club's place in the lucrative Barclays Premier League. And Big Eck has identified Northern Ireland captain Davis as the perfect man to help boost his promoted team's bid for top-flight survival down in England. advertisement The Scot would like to reunite Davis with Barry Ferguson - the pair teamed up last season as Rangers landed the Scottish title - in the Birmingham boiler room. He would like them to replace his ageing duo Lee Bowyer and Lee Carsley. Despite claims that Lloyds Bank is not, as manager Walter Smith has suggested, running Rangers, no denial has been made of reports the entire first-team squad at Ibrox will be put up for sale if no new owner is found. And unless South Africa-based Scottish multi-millionaire Dave King, or another interested party, can seize control then Davis will go as part of a bid to drive down debts that are estimated at �£30 million. Former Aston Villa man Davis signed for Rangers from Fulham for �£3m at the start of last season after a successful loan spell in Glasgow. But Rangers could be forced to sell one of their prized assets to make a payment on their crippling debt unless a new investor rides to their rescue. Despite a spate of injuries at the moment, Gers manager Smith is well covered in Davis's position with Maurice Edu, Pedro Mendes and Kevin Thomson all at his disposal. McLeish is also reported to be eyeing a double raid on Celtic for Scotland central midfielder Brown and Republic of Ireland winger Aiden McGeady in the January transfer window for a joint fee of around �£12 million. Elsewhere, Smith has had his spirits lifted as he prepares for a difficult away game at Dundee United on Sunday with the return of Kirk Broadfoot to first-team training at Murray Park. The full-back cum centre-half has been sidelined with a foot injury since the League Cup Final against Celtic last March. His fellow long-term-crock Edu is set to join him in training next week. Rangers Player of the Year Madjid Bougherra will not be involved on Sunday, but could come back in the Champions League rematch with Unirea Urziceni in Romania on Wednesday. Lee McCulloch, who sustained a thigh injury in the 1-1 draw against Hibs last Saturday, is also making good progress. http://www.eveningtimes.co.uk/sport/display.var.2533621.0.0.php

An article by Contacts on RM, which hopefully he doesn't mind me reproducing. ================== If anyone ever doubted how much a Rangers man Walter Smith is then Saturday and the last couple of days again proved beyond doubt his love for the club. For 9 days now our club has been torn to shreds by Donald Muir and Lloyds yet Walter has put the club before himself and brought the subject out in the open when everyone else has been denying it. I have it on very good authority that our club has had a torrid time of since Mr Muir joined the club as director and hatchet man for the bank. His sole remit is to get as much of the bank�s money back as possible. There is a business plan to get the money back but no plan for the short, medium or long term future of the club. Donald Muir�s business plan has shocked everyone connected with the club and although those within have tried to reject his plan he is having none of it. His plan consists of selling at least 5 players in the January transfer window with no replacements other than the young reserve players. He is not offering the management team a new contract and expects them to work on a monthly deal. He is making decisions daily that result in the bank getting as much money out of Rangers Football Club with no care of any knock on effect. He will, of course, tell anyone that listens to him that he is only doing his job but none of that matters to any of us bears. The story in the Herald and the Evening Times are 100% accurate! Please do not doubt what has been written! Please do not doubt that our club was within days of administration! Please do not doubt Lloyds Group do not give a damn about Rangers Football Club! We all have to ask ourselves why Walter would want to make statements on the crisis at our club if he was not deeply concerned. Walter could sit back (like some of the players appear to be doing) and take the money but he is not and his love of the club has got him out fighting. Some may not want to believe this but Martin Bain has been constantly fighting the bank on every decision and defending the club to the hilt but these guys are ruthless. The bank has every intention of getting every penny they can from Rangers and they are happy for Rangers to be operated like a small scale SPL club with no ambition or desire. As well as selling players they want to increase ticket prices and implement huge cost cutting measures across every department. After reading this you would have thought they would happily sell the club at a reduced asking price as they have done with thousands of other businesses during the credit crunch but word has it that they are proving hard to deal with the people who want to invest in the club - or could there be preferred bidders? Now as fans what do we do? Obviously at first hand our options are limited but say we could get enough fans together who bank with the Lloyds Banking Group and start closing our personal / business accounts and move them elsewhere then surely they would have to sit up and take note that our fans are not going to sit back and let our club be asset stripped. Now I am not yet starting an appeal but I want all Rangers fans who hold an account with the Lloyds group to start looking around to see what other banks are offering. Make the phone call or look online at how easy it is to move banks and change your accounts over. Let�s take it a stage further and suggest that we start to boycott media organisations that take money from the Lloyds group and let us see how they feel when other people get too involved. Let us see the reaction from their top brass when their pathetic bullying of our club backfires on them. Walter has put the club before any personal gain and now it is time for the fans to take stock of the last few days and decide how we as a body of hundreds of thousands decide how we should take this matter further.

From the BBC website.

Portsmouth have been banned from making new signings until they settle transfer debts owed to other English clubs. The Premier League blocked Pompey manager Paul Hart's attempt to sign midfielder Eugen Bopp on Monday. And they will not lift the ban until the club, who are bottom of the Premier League, have settled their debts. A club insider told BBC Sport the problem "should be resolved quickly" but the transfer ban will raise fresh questions about the club's finances. Saudi businessman Ali Al Faraj took over at Portsmouth three weeks ago, buying a 90% stake from previous owner Sulaiman Al Fahim. Last week, Al Faraj was quoted in the Saudi newspaper Asharq Al-Awsat as saying he was "no billionaire", knew nothing about sport and wanted to sell the club quickly. Israeli mogul Levi Kushnir and Hong Kong-based Balram Chainrai have subsequently emerged as potential investors in the club and have attended Pompey's last two matches, Tuesday's 4-0 Carling Cup win over Stoke and Saturday's 0-0 league draw at Hull. Another short transfer ban was imposed on the club at the end of August because of debts they owed, BBC Sport understands. With seven players unavailable for the Stoke game, Hart was eager to sign Bopp, who he had managed at Nottingham Forest. The 26-year-old, who was a free agent after being released by Crewe in the summer, had been training with Portsmouth for the last few weeks. However, the Premier League refused to register the player because of Portsmouth's debts. The transfer ban is the latest in a long line of off-the-field problems for manager Hart. There was a delay in the players' wages being paid in September, while the club was on the brink of administration in August. "A club needs to know where it is going and have a long-term plan," stated Hart ahead of the game with Stoke. "I wouldn't like to go any further with that because I haven't had these conversations with the new owners. I would anticipate this would be in the next month." http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8329673.stm

Scottish secretary Jim Murphy held talks with Rangers' bankers Lloyds on Monday as the financial giant insisted they were not running the club. Murphy stepped in following reports the banking group, 43 per cent of which owned by the taxpayer, had threatened the club with administration over its debts. Ranger boss Walter Smith claimed on Saturday the bank was now effectively overseeing the club's spending and that all the players had been up for sale since January. Current majority shareholder Sir David Murray has declared his intention to sell his interest in the Light Blues, who are carrying debts of about �£30million. A Scotland Office spokesman confirmed that Murphy today spoke to Lloyds. He said: "The Secretary of State for Scotland spoke to Lloyds Bank today about the importance of the bank's support for Rangers Football Club. "There are clearly financial difficulties facing Scottish football clubs - both large and small. Our national game is important to Scotland and will come through this recession and the wider pressures in football." In a statement on Monday, the bank said: "We do not run or manage the companies that we bank - that is, quite properly, the responsibility of the management. "Given the recent press coverage, we would therefore like to be clear that Rangers FC is neither operated or run by Lloyds Banking Group. "We would also like to be clear that Sir David Murray's decision to step down as chairman was a personal decision and not at the behest of Lloyds Banking Group." It is understood the bank has not raised the prospect of Rangers being placed in administration if club bosses failed to introduce a series of cost-cutting measures at Ibrox. The statement added: "The board of Rangers FC is developing and implementing a sustainable business plan and we have agreed to support this plan. "The group is aware of the unique position that football occupies across many Scottish communities and has been working with Scottish football clubs, including Rangers." Lloyds is 43.5 per cent owned by taxpayers after the government bailed it out to the tune of billions of pounds at the height of the credit crunch. Liberal Democrat leader Tavish Scott said earlier on Monday: "Football fans, even those on the other side of the Old Firm, won't understand why taxpayers' money that's keeping this bank afloat could now be used to push Rangers into receivership. "If the Lloyds group can take down Rangers, there won't be many professional clubs left in Scotland." Smith's contract and that of assistant boss Ally McCoist expires in January. But Rangers chief executive Martin Bain has insisted the club will not be forced to sell players in the January transfer window. Echoing the club's statement from yesterday, he said: "The club can confirm that while there have been tentative enquiries regarding the sale of the club, there are none that have realised an offer. "As stated by Sir David Murray, it is not necessarily about price, but the new owner having the capability to take the club forward that remains essential." Bain said Lloyds is "supportive" of the club during a period of "difficult economic conditions." Smith has refused to answer questions about the club's claim that no players need to be sold in January. After Saturday's 1-1 Clydesdale Bank Premier League draw with Hibernian at Ibrox, Smith claimed "the players at the club have been up for sale since January". At today's press conference ahead of Tuesday night's Co-operative Insurance Cup quarter-final at Dundee, Smith replied to the first question about the topic by saying: "They (the club) issued a statement and that's it." The next enquiry was met by a similar response, Smith saying: "I said the club issued a statement last night and that's it as far as I'm concerned, that's it finished with." Quizzed again, the Rangers boss repeated broadly the same answer. Smith, who later threatened to walk out if the subject was broached one more, did admit the current negativity around the club is having an impact. He said: "If there is a level of negativity around the place, it affects everyone, not just the players. "The thing that we have to concentrate on is the results of the games. "We had an extremely poor result in the Champions League last week and we had a decent game with Hibs, and both teams deserve a bit of credit for the way they played. "Now we have a difficult cup tie coming up and, while there may be levels of negativity around the place, we don't and can't allow it to affect us. "You've got to overcome that aspect of it."

I take it the �£50m came from within MIH, a transfer from another part of the company. If I am correct, can it be clawed back if the Club is sold independently?

From the Evening Times. It mirrors TannochsideBears thread. Dire Straits!

Hearts boss Csaba Laszlo will consider his future at Tynecastle after he finds out what support he has during the January transfer window. More...

RANGERS manager Walter Smith last night admitted bankers are now running the club as the full extent of its financial predicament began to career into view. Donald Muir's appointment to the club's board as a non-executive director at the behest of HBOS, now owned by Lloyds Banking Group, nine days ago appears to have been the point when control of Rangers' affairs was removed from the club's hands. Muir is a specialist in assisting ailing companies and officially joined the Rangers board to help them in their "strategic business interests". Both chairman Alastair Johnston and chief executive Martin Bain had previously denied the banks were closing in since owner David Murray stepped down as chairman on 26 August, but Smith spoke freely last night of the new reality he described as "obvious to everyone". It comes at the end of a week in which Murray's company, Murray International Holdings, announced it would be delaying publishing of its accounts for six months. This has been interpreted by some in the business community as a step taken to prevent scrutiny of just how incapable it is of propping up Rangers with the club's debts rising above the Ã?£30 million mark. And it comes at the end of a week in which Rangers suffered their most humiliating defeat in 53 years competing in Europe with their 4-1 thumping by Romanians Unirea Urziceni in the Champions League "As far as I am aware that is the situation," said Smith when asked about reports the bank was in control of the club at his post-match conference following his side's 1-1 draw with Hibernian. "David Murray stepped down and they've placed a representative of the bank on the board. "It is obviously not a good situation. It is not a situation anybody wants the club to be in. It's been up for sale for a while. It's not the bank's fault. If the bank had to take over in the circumstances they have, they are not going to invest in a football club. I think Rangers have been fairly honest about their situation. The players at the club have been on sale since January. We haven't bought a player for... in this transfer window, that will be 18 months. I'm very surprised anyone can't work out the situation. These circumstances have been here for quite a while now. And, despite some headlines, I've never complained about it and I'm not complaining about it now. I'm just saying it is a fact, and a fact of life that a lot of companies throughout the world are having a struggle at the present minute. When David Murray stepped away from the club I felt that was a bad thing for Rangers in the sense that he's tried as hard as he could over 20 years to invest in the club. Now we don't have that situation. So the quicker that gets cleared up, the better it will be." It is Murray who is responsible for running up liabilities he patently now cannot meet ââ?¬â?? a fact some have blamed on the economic downturn. Yet there were plenty of alarm bells when he allowed Smith to become the country's biggest spending manager on his return in 2007, before reacting to the 2008 Champions League qualifying exit by sanctioning an Ã?£8m spend on players that produced a Ã?£3m "hole" in the club's budget that effectively led to the entire squad being put up for sale only six months later. The club has, in effect, been for sale for four years but despite a number of reports of potential buyers, none has been found. Yesterday there were suggestions that board member Dave King, who invested Ã?£25m in the club in 2000, and another unnamed group were considering lodging an offer within the week but these were dismissed by sources at the club. Smith said he was unaware of any possible sale. "I'm not involved in that aspect, you'd need to ask others if there was anything like that," he said. The implications for Smith's bid to retain the title will only emerge over time, but the fact the bankers have decided to exert control can only increase the likelihood there will be a demand for Rangers to cash in on Madjid Bougherra, their most valuable playing asset, in January. Already, with injuries to the Algerian and to Pedro Mendes, Kevin Thomson and Lee McCulloch, who came off yesterday, Rangers are running low on senior players. Smith conceded this was a process that was likely to accelerate and could only be offset by promoting from within. "It is maybe not the proper time to be blooding these boys (such as Andrew Little and Danny Wilson] but I don't think we are going to have much option shortly," said Smith. Rangers' financial meltdown must also place question marks against Smith's own future. His present contract expires in only eight weeks, as does that of assistant Ally McCoist and first-team coach Kenny McDowall. As yet the three have not been offered extensions. However, it is believed that if a new buyer was found that wanted to retain his services he would be keen on staying. Failure to see eye-to-eye with new regime has Smith talking himself towards exit door LONG-suffering Rangers fans are seeing their beloved club up for sale and seemingly rudderless, with Sir David Murray gone from the scene and a chairman who resides in the USA. Now they may be about to lose their talismanic manager. Walter Smith may even be gone in the next week or two, after his comments last night which confirmed that he has no money to spend and no control over the purse strings at Ibrox. Instead, the bankers have taken over. In the world of football finance, banks do not expose themselves to customer dissatisfaction by placing directors on a board ââ?¬â?? new director Donald Muir has no formal links to Lloyds Banking Group, for instance. They do not need to do that. Lloyds ââ?¬â?? a group which has no great track record in football sponsorship ââ?¬â?? simply dictates how Rangers spend the bank's money. Or in this case, not spend it. And it is Lloyds' money that Rangers spend. When it took over the crippled HBOS, it inherited Rangers' debts, probably north of Ã?£30 million, and any potential buyer will be saddled with that debt right away. With the benefit of hindsight, everyone who thought the Murray era would end sweetly and that there would be a swift transfer to a rich new owner was looking at the situation through rose-tinted glasses. When a businessman as powerful as Murray moves out of any company, the reverberations are long and loud and highly transformational. Lots of players have gone as a side-effect of Murray's withdrawal. Now it may be Smith's turn. There is more than one coat on a shoogly nail at Ibrox. Persistent rumours have surrounded chief executive Martin Bain, with Gordon McKie, chief executive of the Scottish Rugby Union, touted as a possible replacement should Bain, too, decide that the end of the Murray era is time to pursue new opportunities. But Smith's departure would be colossal for the club. Alex McLeish admitted he left Ibrox in 2006 because Sir David Murray would not fund new signings. So could Smith do a McLeish? The trouble for Smith is that he eats, breathes and sleeps Rangers. Cut him and he would bleed royal blue. But how long can he go on in the humiliating position for a Rangers manager of not being able to decide who he can buy and sell? How long will a proud man take being told what to do by a bank manager? Smith may even now be planning his exit strategy ââ?¬â?? a term financiers understand ââ?¬â?? and indeed, it may even be under way. Or else why speak out as he did last night? The fans, who are always kept in the dark, may like to ask other questions. Exactly who is in the frame to buy Rangers? If there are no buyers, what happens next? What support will Lloyds continue to give? Will there be money to buy the new players the club desperately needs? It should make for an interesting AGM, and this time no one can call for Murray to go, because he already has. http://scotlandonsunday.scotsman.com/sport/Uncertainty-grips-Ibrox.5764251.jp

We’ve all done it. In fact we see it on football forums across the World Wide Web at least once every season, often once the dirty business of the transfer window is concluded (or not in Rangers case this season). On every Rangers forum, a bear will start a thread comparing the relative merits of our starting XI and squad with our rivals. In the two-horse race that is the SPL, this really means only our enemy from the East End. It occurs to a lesser degree every time we discuss the next upcoming fixture. Whilst football is not played out on paper we are all guilty, to a certain extent, of pretending it is. We assess the merits of our squad. We compare our players with those of our rivals and mostly come to the opinion that we are the far superior team. Based on our team’s performances since Smith’s return, that is a difficult position to argue against. That is, until this season. Craig wrote an excellent piece discussing the various merits of the two squads. Unsurprisingly, Craig drew the conclusion that we were blessed with greater quality. Reigning Champions, who although we had not strengthened had not been greatly weakened it terms of quality. Celtic was a team in transition if not turmoil. Second best and losing the key players that had kept them just about hanging on to our coat tails. They have replaced those first picks with arguably inferior quality players. Just under a quarter of the way into the season, Craig's analysis stacks up fairly well. After an impressive Old Firm victory saw us close an early gap on Celtic, we regained top spot in the SPL with another victory in Perth. But it is only really down to a stumbling start to the season from Celtic. A start that has seen them pick up just 2 wins in their opening 8 home games in all competitions. This is no better highlighted than by the fact that Celtic had what was a relatively straightforward home game against Motherwell this weekend to maintain their position at the top. As we’ve seen, though, football is played on a large rectangle of grass and not on paper or on a webpage. Motherwell would abhor the thought that they were merely lambs to the slaughter and so it proved as they gained a creditable point away from home. Much like comparing Celtic’s starting XI to Motherwell’s, on paper Rangers are more than a match for anyone in the SPL, including our less illustrious rivals. Yet we have yet to demonstrate this dominance in any game of note this season. Sandwiching a creditable draw in Stuttgart, we went on a run of goalless draws against the dross of the SPL and threw in a narrow victory over Queen of the South. At Fir Park, Rugby Park and at home to Aberdeen, as well as in travelling to Palmerston we continually failed to show our superiority in class and footballing ability. Weekend after weekend, game after game, 45 minutes in Germany aside, we failed to demonstrate the quality of a football team that could spend millions on Steve Davis (Ã?£3mil), Pedro Mendes (Ã?£3mil) and Madjid Bougherra (Ã?£2.5mil). Whilst we are blessed with household names and international and former English Premiership stars, the likes of Aberdeen or Kilmarnock field players who would be anonymous in their own neighbourhood and earn a fraction of our players wage packet. Previous Rangers teams have gained from winning championships and trophies. It has developed a sense of invulnerability. A belief they can win against the odds and had many an opponent defeated before they entered the field of play. Look at the NIAR teams for a real strength of character and a winning mentality fostered on past successes. So why are our current squad so brittle? Why do they lack that strength of belief in their own ability? They are champions and should play with the confidence and swagger that brings. Of gravest concern is the midfield. Steve Davis is an international footballer and former premiership star of immense experience, even for his relatively modest years. He has demonstrated his superiority to the best of the rest in this country before as he ran the show in an Old Firm match in which he scored the vital winner. So why is he part of a midfield dominated by the part-timers of Queen of the South or the less celebrated SPL sides? Pedro Mendes, like Davis is an international star; recently helping Portugal get their World Cup campaign back on track in guiding them to the play offs. He has also played in a Champions League winning side. Yet the occasional deft flick and long range strike is barely acceptable from the most talented and experienced midfielder at Murray Park and in Scotland. What too of Kevin Thomson? Admittedly he is still regaining match sharpness. Perhaps that can account for his rash sending off in his first game back. In all truth he was probably rushed back due to suspensions and a dwindling squad. Can it still excuse an inability to execute the basics several matches later? Like Davis he has performed a starring role, complete with obligatory winning goal in an Old Firm game. In fact, we have won every derby encounter the former Hibs star has contested. If he is more than a match for the most difficult opposition we can face domestically, where does this ability go when facing the lesser lights of Scottish football? The term "Paper Champion" has a few connotations or meanings. It identifies a Champion who is merely a place holder. Someone who is the title holder in name, but really the sporting fraternity know they are not deserving and are waiting for a competitor of true champion quality to emerge and assume the mantle. Last season, few would argue, Walter Smith’s Rangers confirmed their place as the dominant force in Scottish football. On paper, we are in our own league. The Hibs, Hearts and Celtic cannot compete. Last season, this was certainly true. When the fixture calendar rolled round to Old Firm day or a contest with the capital clubs, more often than not our players demonstrated their greater quality that was evident on paper. But this season I am left asking myself if that gap in ability between ourselves and our challengers is really there? Was it an illusion? Are we merely paper champions? If my analysis of the relative strengths of SPL sides is worth anything and we really are the most talented group of players it is time we started proving it on match days. No more turning up and relying on a few star performers to save the skins of lazy players who believe they have made it and no longer think they have to work for victory against your Falkirks, St Johnstones and Hibernians. Starting this week I want to see a Rangers side filled with the quality of true champions and not the recent paper champions.

BIRMINGHAM boss Alex McLeish is plotting an �£8 million January swoop for Aiden McGeady. McLeish will be handed a staggering �£40m transfer kitty by the club's new owner Carson Yeung. And SunSport understands the former Rangers boss is tracking Celtic idol McGeady with a view to tabling an offer which Hoops chiefs will find hard to reject. But we can also reveal that Rangers stars Madjid Bougherra and Kris Boyd WON'T be targeted. McLeish failed with a �£4m move for Ibrox goal machine Boyd last January, with the man he took to Gers turning down a switch to the Premiership over personal terms. The Blues boss has also been strongly linked with stopper Bougherra. But centre-half is not a priority position for McLeish, who is desperate to improve his side's attacking options. McGeady has also been linked with giants such as Spurs and Bayern Munich. McLeish is delighted that City's takeover will see him handed funding beyond his dreams. But in an interview yesterday on BBC Five Live he said: "We have to be prudent. It's one thing being given large amounts of money, it's another spending it wisely." http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/2688353/Eck-eyes-Aiden.html

Football Agents - Working for Rangers Benefit? An interesting article written by Pete:

Youââ?¬â?¢ll hear it repeated ad nauseam between now and Christmas if the latest news on Maurice Edu is accurate, so you might as well read it here first: when he regains match fitness after more than four months sidelined through injury, Maurice Edu will be like a new signing for Rangers. Thereââ?¬â?¢s very little arguing with that statement: Edu showed in a short spell towards the end of last season that he has enough raw talent to make the Ã?£2.6m paid for him in the summer of 2008 look like a very shrewd investment indeed. And if Sundayââ?¬â?¢s Old Firm match was anything to go by, such talent will surely find itself in considerable demand as this season progresses. It was in the aftermath of the ââ?¬Å?boozegateââ?¬Â affair that Edu found himself called on by Walter Smith last term. Barry Fergusonââ?¬â?¢s enforced exile from first-team affairs left a breach in the middle of the park during the SPL title run-in into which the 23-year-old stepped with precisely the degree of confidence and assurance you would hope for in an American. Prior to that, his first-team appearances had been rationed. Since Rangersââ?¬â?¢ championship-winning display at Tannadice on May 24 they have been non-existent: a Darren Dods challenge just before half-time in that game put paid to his ability to train for the next three months. His return, therefore, brings a much-needed injection of quality to the Rangers engine-room, but equally valuable might be his versatility. That, at least, is the view of Steve Nicol, the former Liverpool and Scotland stalwart, who was hugely impressed by Edu when he was a Major League Soccer player with Maurice Johnsonââ?¬â?¢s Toronto FC. ââ?¬Å?Heââ?¬â?¢s a player who can perform in a number of different roles,ââ?¬Â said the 47-year-old coach of New England Revolution of a young Californian who has played for his country in midfield, at centre-back and at right-back. ââ?¬Å?Heââ?¬â?¢s not just a central midfielder. Thatââ?¬â?¢s probably where he prefers to play but heââ?¬â?¢s got that ability to step in to other positions. If you can play at centre-back itââ?¬â?¢s obvious that you have the ability to read the game, so he is a real asset.ââ?¬Â Edu, who was drafted by Toronto as the first overall pick of the 2007 MLS SuperDraft, is visiting a specialist in London this week and expects to be given the green light to return to full training after several weeks of gym sessions and running. Having signed a five-year contract at Rangers last August, he was forced to bide his time in the reserves before circumstances propelled him centre-stage in April. At the time Rangers were barely hanging onto Celticââ?¬â?¢s coat-tails in the title race, but suddenly they became a far more competitive unit, in part due to Eduââ?¬â?¢s hunger and energy. Where Fergusonââ?¬â?¢s performances had been inconsistent and not infrequently flaky, Edu was physically adept, robust in the tackle and resourceful in terms of supporting the front men. Arguably his most impressive performance came in Rangersââ?¬â?¢ 1-0 win over Celtic at Ibrox in May ââ?¬â?? a shift that spoke well of his maturity and composure in the most fraught of environments. ââ?¬Å?Itââ?¬â?¢s not easy to step into Barry Fergusonââ?¬â?¢s shoes, as he was asked to do towards the end of last season,ââ?¬Â says Nicol. ââ?¬Å?When Rangers signed him heââ?¬â?¢d had less than a full season as a professional, heââ?¬â?¢d come out of college and been picked early in the draft by Maurice Johnson. Compared to most other Old Firm players, heââ?¬â?¢s inexperienced. But I think now youââ?¬â?¢ll probably see the best of him. As far as I know heââ?¬â?¢s impressed when heââ?¬â?¢s had the chance, but itââ?¬â?¢s not easy to make the switch from a completely different environment after one season as a pro, and it usually takes a while for a player to settle. ââ?¬Å?In the MLS, for such a young player he was someone Toronto relied on. You knew he was a player of real quality when you came up against him, even though he was inexperienced. He picks good positions, he defends well, but he also distributes the ball well, so youââ?¬â?¢ve a guy who has a lot of ability.ââ?¬Â Rangers may not have made any permanent signings in the most recent transfer window, but thereââ?¬â?¢s a fair chance one of their 2008 investments could be about to start paying dividends. http://www.heraldscotland.com/sport/spl/rangers/maurice-edu-can-be-like-a-new-signing-for-rangers-1.924522

Yes, again! This time it's from a more respectable source - The Sun.

Did we sell him in the transfer window or is he still injured?

WALTER Smith will walk away from Rangers if the club don't give him money to strengthen his squad. Talks opened over the weekend with the Ibrox manager and the club's new chairman Alastair Johnston, who sees Smith as a crucial player in his vision for Rangers. But Smith will require guarantees from the board before committing himself to any new deal. Having had to watch two transfer windows open and close without being able to buy a player, Smith will be reluctant to continue without investment in front-line personnel. Jerome Rothen was dragged through the summer window just as it was closing but cost Rangers nothing and Smith believes the club cannot afford to stagnate any longer. That's why Johnston will have a difficult task to keep Smith onside. But at least the new man has opened negotiations to hold on to the manager and assistants, Ally McCoist and Kenny McDowall. All three will be out of contract in January but when asked if he wanted to keep the manager in place the chairman was emphatic. "I want to give them new contracts," he replied and now he hopes to persuade the trio they should sign new deals. However, without transfer guarantees it might prove impossible to keep Smith, who experienced serious downsizing twice at Everton. Now he is going through something similar at Ibrox and although he wouldn't elaborate on his thinking he did say: "The chairman indicated he would want us to sign new deals but a lot of things have to be considered. "A lot has been happening at the club and so there is a lot more to it than just saying okay and signing a new contract. The direction we all want the club to take has to be considered as well as various other issues." Johnston admitted he doesn't have any idea how long he will be chairman because Rangers are still for sale. However, his plans include the current management team and although he suggested it was too early to worry about January transfers, he hopes it will be possible to make signings. Smith's concerns centre around whether or not Rangers will be in a position to release funds for new players and Johnston seems to agree the team and standard of play need to be enhanced. The chairman said: "The board are very supportive of the management team." http://www.dailyrecord.co.uk/2009/09/29/walter-smith-warns-rangers-give-me-transfer-funds-or-i-ll-quit-club-86908-21708804/ Another negative story from the media on the day of a massive game for us, what a shock!!!

John Hughes admits he will enter the transfer market in January to bolster his Hibernian squad's league and Scottish Cup bids. More...

When I turned on ESPN this Saturday, the first Rangers game broadcast by the American Network that puts Sky�s coverage to shame, I was shocked and pleased in equal measure by the starting line up Smith had chosen to tackle Kilmarnock at Rugby Park. Since Smith and his management team have returned to the club I have at times been frustrated by his unwillingness to utilise his full squad. It can be argued that at the end of the 2007/8 season as we battled on four fronts to win silverware that had Smith been willing to utilise the full benefit of his large squad we may not have come up just short in our assault on the title. I may be being a little unfair Walter and his deputies as hitherto before unseen backlog of fixtures is what ultimately cost us the league crown. However, it still stands that at times he has been reticent to rotate his squad and gain the benefits of fringe players who are fresh, fully fit and eager to contribute. So as posters in the main forum will have noted, prior to kick off, I was pleased to note the changes made from what was an excellent point earned in Germany. Kris Boyd, who prior to this weekend�s game had a scoring record of more than a goal a game against his former employers, returned to the starting line up as a toiling Kenny Miller made way. Davie Weir returned to the first XI and with Bougherra suspended it was vital our captain was fit with few other options for the centre-back position. I had assumed the veteran defenders experience would coach McCulloch through another game in his new defensive role. In came Fleck and Novo as Thomson and Rothen dropped to the bench. There could be little complaints about the formation and line up the manager had selected for this latest fixture. A willingness to freshen up the first team and attacking intent in abundance. We had pace and trickery in wide areas from Fleck, Novo and Naismith. Mendes was partnered in the centre by the diminutive Ulsterman Steve Davis, moved in from the right flank where he is able to have more influence on proceedings. With Scotland�s deadliest marksman feeding off this supply on-loan Celtic keeper Mark Brown must have been expecting a far more difficult afternoon than he endured. However, as the draw in Stuttgart highlighted, defying popular opinion of so called experts and bookmakers, football is played out on the field not on paper. Despite the supposed gulf in class, despite the abundance of attacking quality available to Rangers, we rarely troubled the Kilmarnock goal. Yesterday was not a game for the neutrals. Had I not such a deep emotional attachment to my football team, I might not have been watching until fulltime. It was the kind of contest where you would not open your curtains had it been played out in your back garden. Time and again I have argued from the position of football fanatic, not customer. I am not terribly interested in the so-called product so long as positive results are being obtained. Where that argument falls short and where those who wish to be entertained as well victorious are hard to argue against is after a fixture like Saturday�s. A poor performance married with a poor result that saw Celtic usurp our position atop the league table. Fortunately with fixtures against Aberdeen and Celtic next up on league duty we have ample opportunity to make amends and return to our rightful position at the summit. Before that of course we have a Co-op cup fixture with Queen of the South and our first Home Champions League game against La Liga cracks Sevilla. A worrying trend in an inability to motivate ourselves from the first whistle has continued into the new season. Away in Germany we can be forgiven for having to survive a first half onslaught. Stuttgart, as the home team, were under pressure to take maximum points as results achieved at home so often determine the outcome of the Champions League group stage. The German outfit are also blessed with greater financial clout and therefore individual star quality. At half time Smith was able to galvanise his team and they produced a second half performance worthy of the Rangers to take an excellent point on the road. There are no excuses for not being able to take the game to a vastly inferior Kilmarnock team. Much like we have managed to do on our European travels under Smith and McCoist, Killie managed to produce a team performance to outfox a team with greater resources and quality. Like we have shown in our march to Manchester, a good team ethic can defeat superior opposition. We, therefore, no better than anyone that approaching any fixture with the right mental attitude is vital if we are to avoid dropping silly points as we mount our title challenge. I put last week�s drab draw with Motherwell down as a one off. It is rare any team can complete a perfect season. Rangers have managed it just once in our history. But if we have serious ambitions of retaining our league title and extending our world record to 53 titles we cannot afford to put together a string of dropped points. I had hoped the 0-0 draw at Fir Park would serve as sufficient motivation to approach our league fixtures with the correct mindset. It was disappointing therefore that we would again drop points in the very next fixture. Last weekend we were fortunate that our errors were not punished by Celtic as they could not take advantage of our slip up. We were not likely to get away with it two weeks running. Perhaps this weekend�s disappointment was a result of a Champions League hangover. If that is the case it is a worrying scenario for the season ahead with a minimum of 5 more Champions League fixtures to be negotiated. We are all aware of the importance of competing at Europe�s top table. This summer�s transfer window was a bit of non-event as far as Rangers were concerned. Imagine the disaster that may have unfolded had we not guaranteed Champions League participation. Star players such as Bougherra and Davis may no longer be plying their trade at Ibrox. We therefore understand the importance of ensuring we retain our league title and are entered into the draw in Monaco next summer. It is essential then that Walter Smith gets this first half malaise drilled out of our players. Queen of the South are up next at Palmerston this midweek and I expect them to be on the end of a Rangers backlash. There are many players with a lot to prove ahead of vital fixtures with Aberdeen and Sevilla. Kris Boyd, Pedro Mendes and Kenny Miller have flattered to deceive so far this season. They are all seasoned and experience pro�s and their performances should be helping guys like John Fleck and a now injury free Steven Naismith to settle into the team. I am unsure as to whether we should stick with Miller and Boyd and hope that what should be a formality of a fixture will allow them to play their way into form, or drop them to the bench and hope that that serves as the motivation to find their form from the first whistle.