SDM Speaks Out

[ian1964 10,409]

By Terry Murden

RANGERS owner Sir David Murray says he is hopeful that a new owner will take over at Ibrox by the start of next season.

 

The former Ibrox chairman, who has been in talks with London-based property tycoon Andrew Ellis, told The Scotsman: "The sooner a deal is concluded the best it will be for all."

 

Murray, whose group of companies own 92 per cent of Rangers, said the proceeds from a sale would be used to pay off the club's debt which is understood to have fallen from �£31.1 million to about �£25m.

 

"A buyer would pay a figure to buy a debt-free club," he said, adding that "Rangers are in a much-improved position".

 

Rangers made an operating loss of �£11.74m last year after the team crashed out of the Champions League in 2008 by losing a qualifying match to Lithuanian side Kaunas, denying the club a minimum �£10m windfall from the group stages of the competition. But management have turned round their operations so that debt will be reduced and the club will be able to make a profit this year and probably next.

 

Murray unveiled a financial restructuring of his Murray International Holdings empire yesterday but said it would not involve Rangers, which will remain separate from the group.

 

In accounts for the 18-month period to last June he said he remained "completely committed to finding an appropriate investor to secure the future development and stewardship of the club".

 

Ellis is the only interested party who has been confirmed as in talks with Rangers, through a Stock Exchange announcement. There have been other hints of interest, mainly through the media, from businessman Douglas Park, South Africa-based Rangers director Dave King, and an underwritten Supporters Trust buy-out, but Ellis remains the main player.

 

Earlier this week it was revealed that Rangers are subject of an on-going HM Revenue and Customs inquiry into the club's tax affairs. Commenting on the investigation, Murray said he had received legal advice that the club would put up a defence against claims that it used offshore accounts to pay its players. "We have a strong case according to our lawyers and will robustly defend it," said the 58-year-old.

 

He said the tax arrangements had been in the club's accounts for many years.

 

 

http://sport.scotsman.com/sport/David-Murray-eyes-Rangers-sale.6264080.jp

[ian1964 10,409]

DAVID Murray last night labelled Rangers' financial critics as scaremongers.

 

The Ibrox owner is raging at millionaire bus group owner Douglas Park after he told a couple of Glasgow papers the SPL champions couldn't be sold while under investigation by the taxman.

 

It was also suggested Lloyds, the bankers for both Rangers and the Murray Group, could seize all the money from season tickets and next season's Champions League matches.

 

But Murray has dismissed those claims - and demanded Park and any others who might want to buy the club to "put up or shut up".

 

He said: "If Douglas, Dave King, Paul Murray or anyone else wants to buy the club they all know what to do. Stop saying why you wouldn't buy it. What's the point continually trying to undermine Rangers when it's clear finances are improving?

 

"Rangers' debts continue to fall and this club will make a profit next year. That's a remarkable turnaround.

 

"So talk about the bank or anyone else ring-fencing Champions League and season-ticket money is nonsense. It just isn't true and it will not happen."

 

Murray wouldn't talk about exact figures but accepts it will be necessary for Walter Smith - or whoever takes over as manager should he decide he's had enough - to bring in new players. That's why he can't understand why it is being suggested the bank would sweep up every penny.

 

Murray said: "It's just not realistic and amounts to nothing more than scaremongering.

 

"It undermines the club at a time when all the hard work people at Rangers have put in over the past two years is beginning to pay off, both on and off the pitch."

 

Murray is still waiting to hear if London-based Andrew Ellis will press home his �£33million bid for the club and it is understood his people have not been put off by HMRC's interest in Rangers' affairs.

 

Record Sport understands Ellis and his people are close to making their decision but Murray believes the rumours of the past few days which he says link Ibrox directors King and Murray and Park have not helped at such a critical stage.

 

He said: "If you care about the club would you endeavour to undermine it by making the kind of statements we've read from Douglas? One can only wonder why.

 

"Is it an attempt to weaken the club in the hope of getting it at a cheaper price?

 

"I don't know but I do know Rangers are not in any danger because of their financial position.

 

"Rangers is a stand-alone company and there are no cross-guarantees tying them to the Murray Group's finances. The two are separate.

 

"Even when the Murray Group were weak about 15 months ago there was never any danger of that hitting Rangers. People can think what they will of me but one thing I would never do is put the club in that kind of danger.

 

"Let me say this again - never at any time were Rangers in jeopardy when the Murray Group were weak.

 

"Rangers and the Murray Group have rallied extremely well and it is annoying to hear people who should know better sniping at us.

 

"I seem to recall Douglas Park got in touch a couple of times. Two years ago he called Mike McGill, the finance director, and offered to buy the club for �£1.

 

"Then he said he'd like to take over the running of the club but we felt that wouldn't have been in Rangers' best interests. I think it's time Douglas stopped shadow boxing and got into the ring.

 

"If he or anyone else wants to buy let them make their play. They do the due diligence and see where they are but there's nothing to hide here.

 

"I've had the club up for sale for two years because I do want to get out of football after more than 20 years in the thick of it. I'm not going to be hard to deal with and it is a straight-forward process.

 

"If Douglas, Dave King or anyone else wants to buy Rangers they all know what to do. But please, stop undermining what has been a tremendous effort by everyone at the club during very difficult and trying times."

 

http://www.dailyrecord.co.uk/2010/04/30/rangers-owner-sir-david-murray-tells-ibrox-sale-critics-to-put-up-or-shut-up-86908-22222386/

[OnlyOneAmoruso 0]

One clearly still does not like it up oneself.

[Frankie 8,145]

One clearly still does not like it up oneself.

 

Would you rather he didn't reply?

 

As always I'm surprised anyone is surprised at SDM's bluster. Now it is up to us who to believe.

 

Somewhere in the middle is probably the best place to be but it would certainly be good to know more. Until then we can only go in the facts available.

 

Those tell me that the club's finances are improving. We'll soon see if the bank agree.

[boss 0]

Those tell me that the club's finances are improving. We'll soon see if the bank agree.

 

The financial balance that now has to be struck is this:

- next year we will make a healthy profit

- that might be the last year for a while that CL football is semi-guaranteed

- should we spend all that profit now on new players/higher contracts

- and then be saddled with a loss in 2011/12 and high wages costs which we can't sustain

- or should we be just a bit more prudent and keep some of next year's profit for the following rainy-day season(s)

[Frankie 8,145]

I have no problem with the club keeping some profits back for future years. That is a necessary evil of plying our trade in the SPL.

 

After essential overheads, I do expect the season ticket and CL money to first and foremost provide the income for new managerial contracts as well as offers to key players - such as Boyd and even Wilson. I also understand these offers may not be enough as I'm happy to stay within an agreed wage structure and would prefer a move to PRP for all staff. Any surplus from those monies should be kept back or put towards reducing the debt further.

 

Meanwhile, any income from selling key players - such as Bougherra and McGregor - must be used for adequate replacements. Again, if we're lucky enough to have a surplus, that should be held back for future player 'trading'.

 

Simple!

 

PS: Today I've renewed my season ticket after much deliberation. I want to see supporters representation re-examined by those who run the club.

[OnlyOneAmoruso 0]

Would you rather he didn't reply?

 

As always I'm surprised anyone is surprised at SDM's bluster. Now it is up to us who to believe.

 

Somewhere in the middle is probably the best place to be but it would certainly be good to know more. Until then we can only go in the facts available.

 

Those tell me that the club's finances are improving. We'll soon see if the bank agree.

 

Of course not.

 

As always this reply is borne out of personal criticism rather than the good of The Rangers.

[Frankie 8,145]

Of course not.

 

As always this reply is borne out of personal criticism rather than the good of The Rangers.

 

As I wrote the other day, no-one comes out of this whole debacle with any credit.

 

I see no reason why everything that has happened in the media this week could not have been carried out in private - SDM's reaction included.

 

The behaviour of some has been beyond reproach. And from 'Rangers men' no less?

 

Meanwhile the lad Ellis - criticised by some for not being one of us - has gone about his business a bit more diligently and a bit more dignified. With the greatest of respect to N_L, I'd have preferred Ellis hadn't reacted to his efforts at contact but even then he's not revealed much. A penny for his thoughts on this shameful bunfight.

 

Again, it is the supporters that are left confused and bewildered while the club's name is dragged through the gutter. That is unacceptable.

[gisabeer 409]

So far all we have had is continual bullshit from the media due to the fact that they know F all. I dont want snippets of information either from those in the know.

 

 

What i want is for someone to comeout (no jokes please!) and say ive bought the club. untill then i will treat all the speculation and scaremoungering with the credit it deserves.

[ascender 352]

At least he's saying something and if we believe him, he's put pay to many of the stories and rumours floating around the last 6 months in one fell swoop. Of course, this could be the annual BS statement when the season tickets are being renewed, but being optimistic (gullible?), a lot of what he's said does make sense in the context of a club who's been down-sizing for a few years now. Its been discussed on here a lot in that time, that the club shouldn't be in as bad a state as some are saying, but I guess the bottom line is that we don't know.

 

All the rumours and counter-rumours being spread and leaked to the press by supposed Rangers men are pretty depressing. I know that business can be like this, but its really sad to see.