ian1964 10,409 Posted May 28, 2011 Share Posted May 28, 2011 CRAIG WHYTE, Rangersââ?¬â?¢ new majority shareholder, has responded bullishly to the demands made by deposed chairman Alastair Johnston that he must ââ?¬Å?walk the walk and not just ââ?¬Å?talk the talkââ?¬Â by reiterating his financial commitment to the club. Johnston, axed on Monday night along with director Paul Murray after the pair refused to resign, had called on supporters to ââ?¬Å?remain vigilant and continue to exert pressure on Mr Whyte to support the club financially as he has publically committed to doââ?¬Â. In a statement yesterday on the clubââ?¬â?¢s website, however, Whyte confirmed that Rangersââ?¬â?¢ debt to Lloyds Banking Group had been cleared, and insisted he remained committed to backing new manager Ally McCoist financially with a view to improving the squad. ââ?¬Å?It is a huge privilege and honour to have become the majority shareholder at Rangers Football Club,ââ?¬Â he said. ââ?¬Å?My commitment to take the club forward is unwavering and, like all Rangers supporters, I want to build on the tremendous success achieved by the team in recent years. ââ?¬Å?I believe most Rangers supporters understand that, as a result of the takeover, the clubââ?¬â?¢s debt to the Lloyds Banking Group has been cleared and I have repeatedly stated to the board my intentions to invest in the team. ââ?¬Å?I have had discussions with Ally McCoist regarding his ambition to secure players already playing for the club and also to bring new faces to the squad. These discussions will resume when Ally returns to Ibrox this week. ââ?¬Å?These are exciting times for Rangers and the clubââ?¬â?¢s supporters. This past seasonââ?¬â?¢s achievements were truly great and I am determined to continue that success for Rangers and our supporters around the world.ââ?¬Â As well as removing Johnston and Murray from their positions, Whyte has also suspended Martin Bain, Rangersââ?¬â?¢ chief executive, and Donald McIntyre, the finance director, pending an internal investigation. Whyte, who assumed ownership of the club on May 6, would not expand on the reasons behind their suspension, but tried to assuage supporters that changes were always inevitable following upheaval on this scale. Fears that Bainââ?¬â?¢s removal from office, and Whyteââ?¬â?¢s inexperience in running a football club, would leave Rangers rudderless with the transfer window set to reopen shortly, were dismissed by a source close to the new owner. ââ?¬Å?It is business as usual,ââ?¬Â said the source. ââ?¬Å?He has a team around him who are more than capable of dealing with contracts, financial matters and any other immediate business.ââ?¬Â Whyte will send a document to all 26,000 club shareholders before a deadline of June 6 explaining the background to his takeover, the financial commitments and other crucial details. http://www.heraldscotland.com/sport/spl/rangers/whyte-reiterates-his-unwavering-commitment-to-invest-in-rangers-1.1103530 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted May 28, 2011 Share Posted May 28, 2011 I can't understand this continual bleating about Criag Whytes cash? Have we not paid off the bank debt? Have we been paid our payments for our European excertions last year? If we have, we still have money to come if we reach the league stages next year, as well as the winnings from being Champions, yet again, although a smaller amount, it's still cash. Surely all these monies go straight to the manager, after running costs have been deducted, and there is a promised �£5 million every year, plus a possible �£10 milion this season. That is more money we've had in years, while paying off a money grabbing, tax payers supported bank. Things will not be all plain sailing, but we've survied worse than an owner with no money, as our detractors would have you believe. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted May 28, 2011 Share Posted May 28, 2011 We might not owe Lloyds, but I cannot believe we do not owe someone �£18m. 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted May 28, 2011 Share Posted May 28, 2011 We might not owe Lloyds, but I cannot believe we do not owe someone �£18m. My guess is he took �£18M out of one of his companies and put it in Lloyds, meaning it is he personally/his company that is out of pocket. Which is not Rangers' FC's problem - as long as he has hard cash to invest in the team too. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted May 28, 2011 Share Posted May 28, 2011 If someone is out of pocket, they usually look to recover the dosh. The only way to do this would be Rangers generated. 0 Quote Link to post Share on other sites More sharing options...
Danny 0 Posted May 28, 2011 Share Posted May 28, 2011 If someone is out of pocket, they usually look to recover the dosh. The only way to do this would be Rangers generated. Not unless said company could afford �£18M. It might be getting waived. Or am I being naive. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted May 28, 2011 Share Posted May 28, 2011 Have we been paid our payments for our European excertions last year? Our biggest cash lump sum from the Champions League revenue is our Scottish share of the TV rights money and we don't get that until after the Champions League is finished and the pot of TV money is divided up, so sometime next month at the earliest. Our TV cash from 2010/11 Champions League participation should amount to something in the region of �£7m IIRC. Not much less than that, if any. 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted May 28, 2011 Share Posted May 28, 2011 Well that money will be a welcome addition, unless Whyte expects that to be part of his �£5-10 million investement he promised to invest. To my mind, that CL money, or what's left of it should be added to Whyte's initial amount of investment and maybe that is what AJ was meaning when he said the Rangers support had still to remain vigilant? 0 Quote Link to post Share on other sites More sharing options...
Bears 0 Posted May 28, 2011 Share Posted May 28, 2011 Well that money will be a welcome addition, unless Whyte expects that to be part of his �£5-10 million investement he promised to invest. To my mind, that CL money, or what's left of it should be added to Whyte's initial amount of investment and maybe that is what AJ was meaning when he said the Rangers support had still to remain vigilant? One things for sure it isn't comfortable reading 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted May 28, 2011 Share Posted May 28, 2011 I wonder how Whyte is going to "invest" the cash? Will it be: 1. a share issue? 2. a gift? 3. a loan to be waived "in the foreseeable future"? Hopefully we will find out when the shareholder circular is issued. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.