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..erm, in the ET:

 

http://www.eveningtimes.co.uk/sport/editor-s-picks-ignore/fans-deserve-home-truths-1.1024057

 

 

 

The latest revelations about the financial situation at Rangers in SportTimes this week have stunned supporters of the Ibrox club.

 

Officials have tried to quell fears about the investigation by the taxman into payments they have allegedly made into a players� offshore trust in the last decade.

 

Club powerbrokers also attempted to play down suggestions that the �£20million raised from season ticket books, and �£15 million from the Champions League, would go towards reducing the �£30m debts, although there are genuine fears inside Ibrox this may happen.

 

Fans remains concerned about these latest bombshells over their perilous financial situation and the fact that nobody has come forward to buy Sir David Murray�s majority shareholding.

 

We spoke to the representatives of two major fans organisations, Andy Kerr of the Rangers Supporters� Assembly and Stephen Smith of the Rangers Supporters� Trust, and asked their views on the burning issues currently affecting the club.

 

 

Should fans plough �£20m of their cash into Rangers by buying season tickets for next season if they are unsure what it will be used for?

 

AK: The fans are by far the major investors in the club. We put money in by buying season tickets and taking up corporate hospitality packages and such like. Where will the club be if we don�t do that? I would encourage people to buy season ticket books and invest in the club. We sold 42,000 season ticket books and hopefully we can do so again.

 

We�ve had a meeting with the club, with Martin Bain and other directors, and they have assured us there is a plan in place which enables this money to be used to support the running of the club.

 

SS: That�s the $64,000 question. My understanding is that the money which will be received from season ticket sales won�t be used to reduce the debt. Nevertheless, the board should make quite clear what the season ticket money is going to be used for.

 

We�ve said for years that the fans are the major investors in the club and, as such, have a right to know what is going to be done with their money. Rangers fans have shown tremendous loyalty, through good times and bad recently.

 

 

 

It was reported yesterday Sir David Murray was asked about a possible tax investigation in January and the report said he denied it was happening at that time. Alastair Johnston has this week stated it is an old issue. What are your views on this situation?

 

AK: This is the first I have heard of this. But I am led to believe that this is a wide-ranging issue which doesn�t just affect Rangers Football Club, but the British game as a whole. The club seem confident they can stand up to any allegations. It is a concern, though, that the allegations against the club are significant in financial terms.

 

SS: We became aware of the whole issue regarding players� benefit funds about 10 years ago. It was drawn to our attention and a member of our organisation raised a question at the AGM in 2004. It is quite ironic that now, all these years later, it is an issue which hasn�t gone away. We are concerned about any issue which affects the sale of Rangers Football Club. Sir David Murray has to answer on this. I don�t view an investigation by Her Majesty�s Revenue and Customs as a trivial matter.

 

 

 

Businessman Douglas Park has this week revealed there are individuals waiting in the wings willing to put ââ?¬Å?millionsââ?¬Â into the club. Are you encouraged by this statement?

 

AK: I have heard vibes and rumours on and off that there are people there who are monitoring the situation and waiting to invest. So, it doesn�t surprise me that somebody has come out and said that is definitely the case.

 

The other side of the coin is that these people have not seen fit to invest yet. They have pre-conditions which have to be met.

 

SS: We have made it clear that we are keen to speak to Douglas Park, Dave King, Andrew Ellis or anybody who is interested in taking a major stake in Rangers Football Club. The fans are looking to be a partner with a potential investor. Almost anything is better than where Rangers are just now.

 

We look forward to working closely with anybody who has the best interests of Rangers at heart. But we have to look at the ownership model of Rangers.

 

We do not want to swap Sir David Murray for another wealthy benefactor who will take Rangers to the brink of administration.

 

 

 

There is speculation the London businessman, Andrew Ellis, will make a formal bid for the club this week ââ?¬â?? eight weeks after his interest was first confirmed. Do you think this is likely to happen?

 

AK: My personal opinion is that nothing will happen with him. His bid does not appear to have any real substance behind it.

 

SS: See above answer.

 

Are you concerned bankers Lloyds have still to tell Rangers what the business plan for next season is?

 

AK: My understanding is that the current business plan, which has resulted in the club operating within its means, will subsist for the rest of the calendar year. It was based on the assumption that Rangers would win the SPL and would qualify to play in the Champions League again next season.

 

But I still think that supporters need reassurances over what their money will be used towards. It would be nice to think the season book money and the Champions League money would be used to strengthen the squad rather than reducing the debt.

 

SS: We are concerned about every aspect of the bank�s involvement in the running of Rangers. We have heard conflicting stories coming from the manager and individuals on the board. The messages haven�t married up. It is our inclination to listen to the manager and he says the bank is interfering in operational issues concerning the football side.

 

 

 

Walter Smith has won six trophies and taken Rangers to the final of the Uefa Cup in the last three years? Do the fans believe what the manager is telling them about the situation with the club?

 

AK: I think the fans believe Walter on all things. He has shown fantastic leadership on the football side of things. When he speaks what he is saying is the truth or very close to the truth. I think he is speaking as a fan of the club as well as the manager because he believes he has to.

 

SS: Yes. Unequivocally. The vast majority of Rangers fans look to Walter Smith for the truth on the inside story. The manager is easily the most respected figure at the club at the moment and not just because of what he has achieved on the pitch. He is saying as much as he can in the position he is in. I think a lot of people look to Walter to receive information about what is going on.

 

 

 

Would Smith be correct to walk away if his squad was downsized and his budget slashed this summer?

 

AK: I would be extremely disappointed if he was forced out because of the financial constraints. He deserves to get as much support as possible.

 

SS: Walter Smith has been entitled to walk away from Rangers since January 1 this year when his contract expired. To win six trophies, including two consecutive championships, and reach a European final and yet still be in a position where his squad may be pared down is just scandalous.

 

It is a situation he should never have found himself in. It is disgraceful that he has been forced to work with a squad of, if you take the kids away, between 12 and 16 first-team players, given what he has achieved.

 

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Alastair Johnston will jet into Glasgow next week to prepare for a series of crucial meetings that will shape Rangers’ future.

 

The Ibrox chairman will attend the presentation of the SPL trophy at the final game of the season against Motherwell at Ibrox on Sunday, May 9.

 

He will then enter into ...

 

* Vital talks with bankers Lloyds over the business plan for the year ahead.

* Discussions with Walter Smith on whether or not he will stay on next season as manager.

* Consultations with the club’s lawyers to be given an update on the HMRC tax probe we revealed this week.

* Meetings with interested parties who want to buy the club.

 

Lloyds have yet to tell Rangers what the budget is for next season – a decision that will have a direct impact on what Smith decides to do.

 

And, as we also revealed this week, there are major fears inside the club they will be asked to operate once again under the constraints of a crippling business plan with incoming monies from season tickets and the Champions League being set aside against the overall debts.

 

Johnston confirmed: “I did not want to arrange meetings with Lloyds, or the management team, until after the game on May 9. I didn’t want to be presumptuous about us winning the SPL title, despite our points advantage.

 

“Lloyds will have to take a view. But I will be telling them Rangers need a level of investment to maintain our status as SPL cham-pions and to represent Scotland in Europe.

 

“There are only so many times you can polish up an old bus and pump up the tyres.

 

“These points will be made by myself, by the board and by the management team in our consultations with Lloyds. Hopefully, they will recognise what Walter has been saying – that Rangers need a level of investment.”

 

Smith will almost certainly walk if Lloyds do not relent, change their 18-month policy which has given Rangers no room to breathe and supply a budget for players and wages.

 

Senior figures also hope the possibility of another fans’ backlash – if the club is crippled again – will push the bankers to soften their stance.

 

Six players are out of contract – Davie Weir, Nacho Novo, Steven Smith, DaMarcus Beasley, Kris Boyd and Kirk Broadfoot – and, if they all walk, Smith would be left with a squad of 14 first-teamers and two goalkeepers.

 

“My mission is to persuade him to carry on,” said Johnston, “Walter’s concerns – and rightly so – are over the unpredictability of the situation.

 

“This season it has been difficult to try to complete the business plan until such times as we had won the championship and knew if we were directly qualified for the Cham-pions League or not.”

 

Johnston hinted Smith – and chief excutive Martin Bain – had to battle to stop sales in January.

 

The bank had planned on accepting offers, but Smith and Bain’s reaction – and the supporters’ public attack on Lloyds influence and protests against controversial director and ‘turnaround specialist’ Donald Muir towards the end of December and into January – led to them backing down.

 

“I clearly have knowledge of what Walter and his team have had to deal with behind the scenes,” Johnston said.

 

“You should not underestimate what Walter and Martin managed to do in January. We had enquiries for players. In the end, only Pedro Mendes left. We have had redundancies and cutbacks recently, very difficult times.”

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My understanding is that the current business plan, which has resulted in the club operating within its means, will subsist for the rest of the calendar year. It was based on the assumption that Rangers would win the SPL and would qualify to play in the Champions League again next season.

 

 

That's not what I was told and considering when this meeting took place it would need to be one hell of an assumption considering how we were playing at the time

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