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Radical Fiscal Changes required at Ibrox: Who's got the Stomach for it?


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Rangers International Football Club plc

("Rangers", the "Group" or the "Club")

 

 

Directorate Change

 

 

Rangers announces that the Board has appointed Craig Mather, aged 42, to the role of Chief Operating Officer for the Group. In addition, Craig will act as interim Chief Executive Officer and will be a member of the Board as the interim Chief Executive Officer. In the meanwhile the search for a permanent replacement for Charles Green will continue and a further announcement will be made as appropriate. Craig has been director of sports development for the Club since October 2012 and is currently a shareholder in the Club having invested prior to its initial public offering in 2012. Craig currently holds 1,800,000 ordinary shares, representing 3.1 per cent. of the Company's shares in issue.

 

Craig is currently a director of Simply Cartons Limited, Simply Cartons Holdings Limited, Simply Racing Limited, Simply Sport Management Limited, Puki Limited, One Partners Limited and Little Big Shot Limited and has been a director of IP Logik Limited, Simply Rigids Limited and Spirit Sports Entertainment and Media Limited in the last five years.

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Some interesting comments on the main site for the author to deal with... ;)

 

Cheers Frankie. I thought this would go down like a lead balloon, but the replies are all positive.

 

I should point out that there's a mistake in the piece regarding the "140 days" as I intended to write "140 weeks" and missed the error when editing.

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I noted the following section from Malcolm Murray's statement about the appointment of Craig Mather as CEO today:

 

I want to make it clear we are in a healthy position financially following the successful flotation of the company in December last year. I would also like to assure all of the supporters that this money is being used for the benefit of the Club and nothing or no one else.

 

Malcolm Murray would do well to remember that the fans were given assurances before the flotation that the cash raised would NOT be frittered away on cash flow issues caused by running costs. That IPO cash is going to be gone before we're back in the top flight on bridging running cost shortfalls alone if the club doesn't do something quickly to reduce it's cost structure and monthly bills.

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Reflecting on this piece, which was excellent (cheers Zappa, pal), I thought back to my post a few weeks ago regarding the need for Green to set out clearly his strategies beyond sound bites and apparently strange decisions.

 

Seems to me, that Green was simply working his ticket rather expertly. And bringing it back full circle, what skills and experience does Craig Mather have to carry out an extensive value for money review of the club, and the inevitable cuts that would ensue? I'm not convinced.

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I noted the following section from Malcolm Murray's statement about the appointment of Craig Mather as CEO today:

 

 

 

Malcolm Murray would do well to remember that the fans were given assurances before the flotation that the cash raised would NOT be frittered away on cash flow issues caused by running costs. That IPO cash is going to be gone before we're back in the top flight on bridging running cost shortfalls alone if the club doesn't do something quickly to reduce it's cost structure and monthly bills.

 

 

But they are totally meaningless, have been for quarter of a century

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I noted the following section from Malcolm Murray's statement about the appointment of Craig Mather as CEO today:

 

 

 

Malcolm Murray would do well to remember that the fans were given assurances before the flotation that the cash raised would NOT be frittered away on cash flow issues caused by running costs. That IPO cash is going to be gone before we're back in the top flight on bridging running cost shortfalls alone if the club doesn't do something quickly to reduce it's cost structure and monthly bills.

 

They did say some of the money would be used for working capital purposes.

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