The Takeover of Rangers - Clarity and Leadership Required

[Frankie 8,145]

Unless you've been on Mars, the Rangers ownership debate will have been everywhere in your supporting life of the last six months in particular. From the 'official' newspapers and media, to the 'unofficial' forums and fanzines; from the 'official' fan groups, to the 'unofficial' singing sections; the apparent dispute between Lloyds Bank/MIH and those interested in buying the club has been a hot topic for months now.

 

I say apparent because real, genuine facts are thin on the ground so it is extremely difficult for the average bear to decide what is and isn't authentic when examining the ownership issue. On one hand we hear rumours that Lloyds Bank - via the introduction of director Donald Muir - are in control of the club and attempting to regain their �£31million debt by manners that could cost the club its short, medium and long term competitiveness. On the other we have club chairman Alistair Johnston telling us at the club AGM that these rumours are untrue while the bank say they remain committed to the club's future success.

 

The battle-lines are drawn then but the lines are somewhat unclear. Who is in what army and who is fighting who. And, most importantly, what is the prize and how much will it cost? All confusing stuff for supporters who look at the SPL table and see a six point cushion (in real terms) between us and Celtic.

 

Therefore, as a starting point for those of us without the source with the inside info, what are the facts of the situation? Well, as reported late last year the club is �£31million in debt (as of June 2009) although our participation in the Champions' League group stage will likely have reduced that figure by a few million in the interim. To that end, the debt is owed primarily to Lloyds Bank who are involved in the club via long term loans as well as their shareholding in MIH.

 

Nevertheless, Sir David Murray remains the majority owner of both Rangers and the MIH parent company and people under-estimate his influence at their peril. However, MIH do have alleged serious financial problems and, much in the same way the Rangers board had to renegotiate their loan terms with the bank in 2009, it is believed that Murray has had to do the same with the huge debts MIH have. This much is unclear as the company have delayed the reporting of their accounts until April this year - lending weight to claims he is having difficulty appeasing the bank in terms of restructuring.

 

Back to Rangers and once again dealing with what 'official' information is publicly available we examine the club AGM where the shareholders were told the club did not need to sell any players and could, if necessary, 'trade' their way through transfer windows. Obviously this statement is open to interpretation but given we've not sold anyone (yet!) and contract talks have taken place with several players, Johnston appeared to be correct when speaking in December. The club also strenuously denied that Lloyds are 'running Rangers' as some suggest.

 

Unfortunately this is where the waters become muddied - perhaps deliberately so and certainly by a range of parties - including the club, including the media and including 'in-the-know' fans. Read any Rangers forum (and indeed most newspapers - be it Jim Traynor in the Daily Record or Darrell King at the Herald) then the 'official' lines above are challenged. The rumours and innuendo are rife:

 

Donald Muir is an agent of the bank; the bank want to reduce the playing squad to 14 senior players; contract offers have been taken off the table by the bank; Muir has held meetings with his friend Alex McLeish to sell key players; key club staff members (Martin Bain and the head Groundsman) have been 'sacked' then reinstated; the club is allegedly for sale at �£31million with SDM happy to accept a nominal sum for his 91% shareholding; Dave King is the man the fans must throw their weight behind; Graham Duffy is the only show in town; why are the bank rejecting good offers for the club; the fan groups will unite the support; Murray Park is to be sold to realise funds; paint banners and place pressure on the bank; the fans can run the club; etc etc etc. I'm sure there are more I've missed.

 

To be clear, I don't know if these rumours are true. They may well be and, in fact, I believe some are but I certainly urge all Rangers supporters to be cautious in what they read - no matter the source. I don't under-estimate the intelligence or passion of our fans and to that end we shouldn't be patronised by any side of the argument.

 

Therefore, what is certainly the case and the reason for this article, is that once again we're the ones being treated unfairly. I don't doubt people want to buy Rangers FC and I certainly don't blame them for wanting the best deal possible. After all, the cheaper they buy the club (or the bank debt); the more money they'll have to invest in the parts of the club that desperately require it. Be it an essential improved contract for Kris Boyd or repairs to a stadium built in memory of the 66; tens of millions of pounds are required to take our club forward. Again, anyone under-estimating the scale of the job needed to keep our club as a successful going concern, could be even more fatal than allowing the bank to sell off our assets.

 

Consequently, more than ever, what we need is clarity and leadership from those that are buying (and those that are selling) the club. Of course, Stock Market rules may determine what information can be made available but, while the current method of drip-feeding unsubstantiated rumours to people via the media and unofficial fan forums may help apply pressure to a degree, we need more credible ways of reaching the support than that. After all, the online community may know and trust a few otherwise anonymous user-names, but how on earth do the vast majority of off-line fans - the often apathetic preponderance of the Rangers support; get access to the debate? These are the people any potential buyer (and fan group) need to reach if they want a successful subscription to any ownership model and so far the efforts to do so are below par.

 

Across the community and at recent games I see Rangers fans challenged to open their eyes and be aware of 'the enemy within' our great club. Fair enough, I understand that mantra and, given I'm lucky enough to be in contact with a few interesting people, I also share in it to a degree. However, how can I possibly pass this message onto others without looking somewhat irresponsible?

 

Despite the proclamations from some on the other side of the debate, there's no doubt there are problems at Rangers football club. There is also no doubt people are concerned about that enough to want to spend a lot of money during a difficult financial period to buy the club. For that I'm thankful. However, if these people are truly serious and want their efforts to be respected and supported, I expect to see more.

 

If the situation is as dire as their plants in the media and their associated fan groups suggest by proxy for them, then the odd post on a forum and the odd banner at a game is not enough. We've heard the declarations of unity but there has been little evidence of it when requested. More is required. Meetings are needed. Credibility must be sought. Unification is paramount. Egos need not be massaged. Communication must be used. The fans should be trusted.

 

What cannot be denied is that to be the owner of Rangers FC one must be a true leader of men. We want and need this leader. If you are serious in your intentions, then you must step forward. Are you Ready?

[Stefanovitch 0]

Good read and outlines everyones desire (I think) - we as supporters know nothing - we need reliable information and it has to come from someone we feel we can trust

[Frankie 8,145]

Good read and outlines everyones desire (I think) - we as supporters know nothing - we need reliable information and it has to come from someone we feel we can trust

 

Absolutely.

 

The problem is - and this is what I'm trying to highlight - is the amount of conflicting information going around.

 

Any buyer using fans forums to make their point through otherwise anonymous people is open to question about their credibility. Surely there are other more credible ways (mentioned previously in other debates) of sharing information and garnering support?

 

There is supposedly at least one interested buyer/consortium. The fan groups are obviously being used to release information. As are the media - both tabloid and broadsheet. It has been said this is all with the backing of the current club board who feel pressured by Muir/Lloyds.

 

If all this is true then why the flawed communication and poor organisation to gain support for a bid while placing pressure on the bank?

 

Much more can be done as a successful Rangers team on the park in the interim means the bank don't need to sell the club cheaply. Much better then that an organised bid is made with the clear involvement of the support in order to maximise the chances of success.

 

Smoke and mirrors is a phrase usually reserved for SDM. Well, he's not the only magician playing the game right now.

[andy steel 0]

What is even more interesting, in my eyes anyway, is the apathy that's been shown overall. Is this because the team hit a vein of form? Is it because no-one knows what's going on? Is it because those without 1000GBP to spare feel marginalised? Or is it that although we have a huge fan base, the club is seen as a hobby, a pastime, rather than the integral part of life it's often claimed to be?

 

When this all started I rather assumed that ownership would pass from one rich individual (SDM) to another (Mr X). I was all for pushing fan-owndership, but it's plain to see it has been a nonstarter and would require a regular financial committment from tens of thousands of fans - I can see it is unrealistic to expect this to happen. So I was sanguine, thinking Mr X (I typed Mr C there by mistake!) would buy Rangers and on we would go.

 

Instead there's some rumour, some jockeying, but nothing even approaching anything tangible....meantimes the stadium crumbles, the team weakens (despite our current standing) and the length of time needed to get back onto an even keel increases.

 

Where before I was laid back I'm now concerned. I don't think the future looks promising at all.

[maineflyer 0]

So, what I take from the OP is this..........

 

1. There's whacking great problem and the club stands on the edge of a cliff

2. It's utter confusion and no one knows what's going on

3. You can't trust a thing you hear or read

4. The support is divided and rudderless, endlessly recycling the same old rumours

5. We're hoping for the best, fearing the worst, waiting for the end and trying to rationalise the chaos

[rbr 1,247]

So, what I take from the OP is this..........

 

1. There's whacking great problem and the club stands on the edge of a cliff

2. It's utter confusion and no one knows what's going on

3. You can't trust a thing you hear or read

4. The support is divided and rudderless, endlessly recycling the same old rumours

5. We're hoping for the best, fearing the worst, waiting for the end and trying to rationalise the chaos

 

 

Absolutely brilliant , possibly the best summary of our present predicament ever :)