Analysis: is Blue Knight Paul Murray fighting a losing battle?

[BrahimHemdani 1]

your answer to A is misguided. The 2 Bhoys running LBG's Scottish business division at that time were the cause of this IMO. MIH had debts of over £700m and Rangers were around 3% of that yet they seemed more pre-occupied with Rangers £18M DEBT (which AJ was reducing year on year) than the infinitely larger MIH debt. Why was that? surely not because of their Sellik allegiance? I'm sure the police investigations & the Insolvency Service will be interested to find out why LBG were so keen to get this debt cleared to such an extent they put Rangers into the ownership of a fraudster

 

The answer to that is simple. Rangers were much more vulnerable than MIH and it was a lot easier to liquidate that debt than any other part of Murray's empire. Also all banks were running scared of football club debts, which were supported by vastly inflated stadium property values that had collapsed in the crash.

[BrahimHemdani 1]

We were a mess financially until Lloyds sorted things out. Your paranoid gibberish will not hide this fact.

 

Possibly they took a hard line because they could see us going back to our previous debts of nigh on £80m.

 

Do you have evidence to show that we were reducing our debt year on year prior to their involvement?

 

What put us in a real mess was losing to the Hearts reserves on that awful, miserable wet night in Kaunas with my alter ego on the bench and Dailly in midfield; and the Champions League millions that went flowing down the Suwannee as the rain flowed down the streets.

 

The long term loan was being paid off at £1,000,000 per year as required and I believe was down to £18,000, 000 at that point. The total debt was around £30M. Your comment about £80M is just nonsense.

 

What certainly is true is that LBG imposed a discipline on the Club's finances that was unprecedented; with then finance director Donald McIntyre having to submit a list of payments to the bank each week for approval etc.

[der Berliner 3,247]

While we are at it, why has the club no banking facility et al just yet? Are we still to hot to handle for banks despite being virtually debt-free? It's not that I am looking for another HRBOS / LBG scenario, but as long as the club is running on a safe financial plan, wouldn't it be useful to at least have the option (sic!) of a banking facility as well? Just asking.

[Zappa 0]

Folks, as Frankie requested a few pages back, please keep it civil.

 

Personal abuse and vitriol won't be tolerated and certain deleted posts have been noted (we can still read them).

[simplythebest 0]

However tempting it may be to write it off as trolling and a minority (may be a minority but hard to tell) there's a valid opinion to be had that Paul Murray shouldn't be appointed to the board. He's not some sort of super Mr Rangers figure beyond reproach nor is he such a brilliant businessman that his record can't be questioned.

 

I've seen people against Green and co who also don't want Murray back.

[BrahimHemdani 1]

While we are at it, why has the club no banking facility et al just yet? Are we still to hot to handle for banks despite being virtually debt-free? It's not that I am looking for another HRBOS / LBG scenario, but as long as the club is running on a safe financial plan, wouldn't it be useful to at least have the option (sic!) of a banking facility as well? Just asking.

 

Assumimg that's the case, then that's a very good question dB.

 

I might be able to find out tomorrow.

[BrahimHemdani 1]

He's not some sort of super Mr Rangers figure beyond reproach nor is he such a brilliant businessman that his record can't be questioned.

 

I've seen people against Green and co who also don't want Murray back.

 

Count me in that group.

[der Berliner 3,247]

I'll place this in here, as it concerns one of the possible directors, snatched from FF ...

 

 

 

McColl seems to have assembled quite a few people.

[simplythebest 0]

Folks, as Frankie requested a few pages back, please keep it civil.

 

Personal abuse and vitriol won't be tolerated and certain deleted posts have been noted (we can still read them).

And I'm sure we'll all keep good faith that the administrators will practice what they preach.

[the gunslinger 3,366]

It says a lot about the mess we're in when I'm not all that bothered about the prospect of Murray re-joining despite the fact that:

 

A - He was complicit when we spiralled into yet another financial meltdown, to such an extent that that bank had to take control and sort the situation out themselves. A pretty unheard of situation for such a large club.

 

B - He made several laughable bids for the club, one based on later participation on the Champions League.

 

C - His 'vision' for the club has frequently been worrying eg mortgaging more ticket sales to Ticketus and increasing our debt to generate money.

 

But given pretty much every board member we ever seem to have is a snake, welcome aboard. At least if Murray's on board we get Jim McColl, who has a worrying lack of intent to purchase us but should be a custodian that can finally be trusted.

 

His bid was based on 5.5 million cash but included bonuses for cl success.