chilledbear 16 Posted January 25, 2012 Share Posted January 25, 2012 Didn't the Rangers Group (formerly WaveTower) assume ownership of the Albion Car Park when they paid off the debt to Lloyds? Isn't there now a long-term mortgage on the land? Can't remember exactly what happened there as there are a few rumours and half-truths about the history of that land ownership. Rumours and half-truths, another day in the Rangers story. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,327 Posted January 25, 2012 Share Posted January 25, 2012 Unless I am mistaken, Albion Carpark is still owned to 95% by a company of SDM. Murray Park, according to the annual reports and land books (or whatever it is called in English), belong to Rangers FC. (Source: People who checked it over at FF) 0 Quote Link to post Share on other sites More sharing options...
26th of foot 5,874 Posted January 25, 2012 Share Posted January 25, 2012 My finger came off the pulse over 3 years past and Frankie may well be correct reference the Albion car park. Originally, the monies raised to purchase the land that constitutes the Albion were accrued by the Rangers Supporters Association. The RSA gifted the land to Rangers in the early 50s with the express wish it was utilised by the club as a training ground. David Murray proposed that the land be utilised as a car park to satisfy the planning demands of the Club Deck. I attended said AGM and a long with a few dozen other concerned shareholders, voted against such a club asset being transferred to the then Chairman. The motion was passed overwhelmingly. The casino proposal was a stalking horse to ensure PPG received development permission on the Albion, the land's value increased ten fold. The last I heard(as stated 3 years past), every Bear that hands over £8-£9 to park their vehicle, the money goes to PPG. I am sure that Murray's older son took over the running of PPG? Like the Edmiston Club, the Albion should be returned to the club soonest. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,366 Posted January 25, 2012 Share Posted January 25, 2012 Didn't the Rangers Group (formerly WaveTower) assume ownership of the Albion Car Park when they paid off the debt to Lloyds? Not as far as I'm aware. I haven't seen anything to suggest that. Isn't there now a long-term mortgage on the land? There was a long term lease. We had a commitment to pay it off, paying a relatively small amount each year. The press reported that the lease was paid off by Whyte as part of the debt clearing exercise. Whether it's now freehold or still leasehold is unclear. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,366 Posted January 25, 2012 Share Posted January 25, 2012 I attended said AGM and a long with a few dozen other concerned shareholders, voted against such a club asset being transferred to the then Chairman. For the sum of £2m. The casino proposal was a stalking horse to ensure PPG received development permission on the Albion, the land's value increased ten fold. The last I heard(as stated 3 years past), every Bear that hands over £8-£9 to park their vehicle, the money goes to PPG. I am sure that Murray's older son took over the running of PPG? There hasn't been any confirmation of that. It appeears to me that it's just unfounded internet speculation. Like the Edmiston Club, the Albion should be returned to the club soonest. As I've said above, the Albion is on our books. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted January 25, 2012 Share Posted January 25, 2012 I really can't see anything sinister here. If there was, you could bet your bottom dollar that half of Scotland wouldn't get to know. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted January 26, 2012 Share Posted January 26, 2012 Funny how McCoist has a bust up with Whyte and all of a sudden Murray appears to chat to Ally. Yes I agree it is of course totally coincidence:hm:. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 26, 2012 Share Posted January 26, 2012 Has been said he still owns title to the Albion and Murray park. As I said elsewhere Rangers bought back the Albion for £1 in 2004. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 26, 2012 Share Posted January 26, 2012 Originally, the monies raised to purchase the land that constitutes the Albion were accrued by the Rangers Supporters Association. The RSA gifted the land to Rangers in the early 50s with the express wish it was utilised by the club as a training ground. David Murray proposed that the land be utilised as a car park to satisfy the planning demands of the Club Deck. I attended said AGM and a long with a few dozen other concerned shareholders, voted against such a club asset being transferred to the then Chairman. The motion was passed overwhelmingly. I was at the same meeting and like you voted against the proposal. Sitting behind me was one Jim Whyte, who invited me to be interviewed on camera at STV as a "concerned shareholder". 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,366 Posted January 26, 2012 Share Posted January 26, 2012 As I said elsewhere Rangers bought back the Albion for £1 in 2004. It was a a long term lease for the value of £3.9m. 0 Quote Link to post Share on other sites More sharing options...
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