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David Murray: Rangers will survive


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Sir David Murray today said Rangers will ride out their financial troubles ââ?¬â?? and could yet still attract a buyer.

 

Murray announced on Tuesday he was taking the club off the market after three- and-a-half months of discussions with London-based property developer Andrew Ellis ended without a deal being done.

 

The Ibrox owner said today that an improved relationship with the bank, Lloyds, and a continuing revival of his metals business helped explain his decision.

 

He said there had been ââ?¬Å?some major improvementsââ?¬Â in the health of his business empire since the low point.

 

ââ?¬Å?At that time our bank went out of business, the price of commercial property collapsed, the football club had just lost to Kaunas, and the price of metal collapsed,ââ?¬Â Murray said.

 

ââ?¬Å?We have a working relationship with Lloyds, who didnââ?¬â?¢t know us a year ago and are backing many of our ventures, some in the pipeline. There is stability in our business.ââ?¬Â

 

Murray said Rangers had produced six months of good financial results and there would be a small profit at year-end. He added: ââ?¬Å?The budget is approved, supported by the bank, the facility is supporting a little bit of money to spend.ââ?¬Â

 

Murray declined to comment on his ongoing commitment to Rangers, but repeated that he would only accept an offer that was ââ?¬Å?in the best interests of the club, its shareholders and its fansââ?¬Â.

 

When asked if Rangers is no longer a sellable proposition, Murray said: ââ?¬Å?The answer to that is it will be if it is run efficiently in a cost-effective manner ââ?¬â?? that is the way it will survive and be attractive to someone.ââ?¬Â

 

http://www.eveningtimes.co.uk/sport/editor-s-picks/david-murray-rangers-will-survive-1.1035472

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Anyone else find it a bit deflating to have our owner set the cap of ambition at survival? I know we have to be realist in these things, but you can be realist and inspiring. You could say, in this new world of fiscal belt-tightening and living-with-in-your-means there are both hardships and opportunities - there's a real chance for Rangers to lead the way in adopting new strategies to deal with new times? I suppose if he came out with that, there'd be moonbeam sarcasm again, but survival implies a sort of day-to-day short termism, yet he doesn't expect a buyer, which implies there's a long term that's begging for at least some sort of vision - even if it's making a virtue of what we currently have to endure.

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What ventures are in the pipeline and how does the owner intend to run the club 'efficiently in a cost-effective manner' whilst maintaining our domestic success?

.

Presumably the 'ventures in the pipeline' refers to Murray ventures outwith RFC.

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Just reading that statement, initial reaction is "is that it?" That shows how little respect he has for the fans if he thinks that's a suitable statement given the goings-on of the last few months. Disappointed, but not surprised.

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Pretty much echoes what I was saying in another thread. I've always wondered why SDM would accept a mere �£3M to �£6M for his shares without a gun to his head when, if allowed, he can trade Rangers out of debt and sell for a lot more. Money makers don't like big losses and I can see him envisioning selling a debt free Rangers in the future for the full �£33M or more. That's a 1100% increase on his current offer. I think he'll at least want to break even on his tenure, possibly counting what money he personally made from Rangers.

 

I found it very hard to believe he'd limp away with just �£3M from something like a �£75M investment.

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