Statement from Lloyds & Scottish Secretary

[craig 5,195]

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."

[stewarty 1,876]

I'm far from a fan of Jim Murphy but welcome his intervention

[gisabeer 409]

I'm far from a fan of Jim Murphy but welcome his intervention

 

The rest of the spl club will be bricking it if we went down. Good to have a scottish minister fighting our corner.

[Norris Cole 0]

I'm far from a fan of Jim Murphy but welcome his intervention

 

I could take some stick here but I've got a bit of time for Jim Murphy. He may be a Celtic fan and a Catholic but I've never shared some Rangers fans' suspicions of him. He doesn't particularly strike me as a Rangers-hating bigot the like of which we often see in 21st century Scottish society.

[andy steel 0]

Well, it's not meant as stick for Norris, but Jim Murphy has always struck me as a huge walloper who would struggle as a councillor, let alone a minister. I'd be happier if he took himself and buggered off.

 

I will admit to being paranoid but this strikes me as a base attempt to shore up the vote and connect Labour with Rangers. I'd prefer to see politicians keep well away.

[craig 5,195]

Well, it's not meant as stick for Norris, but Jim Murphy has always struck me as a huge walloper who would struggle as a councillor, let alone a minister. I'd be happier if he took himself and buggered off.

 

I will admit to being paranoid but this strikes me as a base attempt to shore up the vote and connect Labour with Rangers. I'd prefer to see politicians keep well away.

 

If it assists in saving our club I will happily take the assistance.

 

I am not above us accepting that type of handout.

 

Call me a sell-out but the survival of RFC is something I will allow even a "walloper" like Murphy to assist in.

[andy steel 0]

It would be the first instance of the City taking any notice whatsoever of something a member of the government has to say in a good long while. If they are willing to ignore feeble suggestions on liquidity or bonuses, what makes you think they'll take any notice of someone they had probably never heard of until this afternoon?

 

If we were at death's door and he stepped in I'd say fair enough. I doubt it's that bad, though, and I think he's trying to cash in.

[craig 5,195]

Without being in possession of full facts we simply dont know.

 

Either way, my point remains - if it assists in saving the club I accept the assistance.

[stewarty 1,876]

Without being in possession of full facts we simply dont know.

 

Either way, my point remains - if it assists in saving the club I accept the assistance.

 

Agreed.

 

Although I would point out that my reasons for disliking him are not because of the team he supports or the faith he subscribes to.

 

The cynic in me suspects his motives may be along the lines andy_steel suggests but I am willing to give him the benefit of the doubt.

[Frankie 8,136]

Rangers Football Club are a Scottish institution just like RBS and HBOS were when they had financial problems recently.

 

I'd have been more surprised if the minister in question hadn't got involved - party politics or not.