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Former Rangers players Gough and Rae back scheme to hand club's supporters power...


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http://www.heraldscotland.com/sport/football/former-rangers-players-gough-and-rae-back-scheme-to-hand-clubs-supporters-power-at-ib.1392030197

 

 

Richard Gough and Alex Rae have become the first two former Rangers players to back a scheme that could hand the club's supporters power at Ibrox.

 

Representatives of the club's support have been invited to hear a presentation from Supporters Direct Scotland on how they could set about launching a bid for "greater fan ownership".

 

SDS has already helped supporters of Dunfermline and Hearts successfully arrange deals to take control of their clubs and believe the Rangers faithful could be the next to grab a greater say in how their club is run.

 

They will discuss the vision at a meeting at the Louden Tavern, Ibrox, on February 14 and have already won the backing of nine-in-a-row captain Gough.

 

The former Scotland defender said: "The fans are the heart and soul of Rangers Football Club and one sure way to guarantee that this remains the case at Rangers forever is for the fans to collectively have more power in the club.

 

"As we are a PLC, fans collectively owning shares is in my opinion one way to ensure this, and the more they own the louder their voice.

 

"I therefore look forward to hearing what comes out of this meeting on the 14th and hope it move the cause of fan involvement forward at Ibrox."

 

Former Gers midfielder Rae - who helped the Glasgow giants land the 2005 Scottish Premier League title - has also indicated his support.

 

"When I go to Ibrox I hear the Rangers fans singing 'Four men had a dream' about the men who founded the club," he said. "Well the many thousands of Rangers Fans can now make that dream a reality again by gathering together with the single issue of collectively owning their club.

 

"That is why I look forward to hearing what comes from the meeting of the 14th and look forward to supporting the next step."

 

It is understood that SDS has drawn up a blueprint that will see a Community Interest Company formed which will then collect monthly contributions from fans.

 

It will be based broadly on the same model which has put the Foundation of Hearts group in poll position to rescue the administration-hit Jambos.

 

Head of SDS Paul Goodwin spoke last week of how a scheme with around 25,000 supporters handing over around £20 a month would give them £6million after 12 months.

 

The current Ibrox share-price has fallen to 25.75p - a huge drop on the 70p launch price.

 

The Foundation of Hearts announced last week it had struck a deal with majority shareholder UBIG to take control of their 78.97 per cent stake in the Jambos. The Gorgie bid is backed by more than 7,500 fans each making a monthly donation.

 

SDS is also currently working with fan groups and boards at Motherwell, Ayr United and Annan Athletic as they bid help take those clubs into community ownership.

 

Rangers announced a £14.4million loss for the 13-month period up to June with reports suggesting the club is still losing £1million a month.

 

The club's AGM just before Christmas saw angry shareholders lining up to criticise the Ibrox board for their handling of the club's affairs.

 

Last month, the first-team players rejected a proposed 15 per cent pay cut while chief executive Graham Wallace has started a 120-day review of the League One leaders' operations after admitting spending is out of control.

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what shares are going to be purchased with this projected 6 million?

 

Any shares that become available? If the money is there, you can start to seek out shareholders to buy from too. And failing that, you can buy the proxy of institutions until more shares do become available.

 

In any case who, when and where they are bought from is irrelevant, what's important is who buys them. That should be fans and it's fantastic to see guys like Gough and Rae take an interest in it.

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then this will just prop up spivs and make them rich i am afraid.

 

i know tthats not your fault but it is a concern. it would be great if a new issue of shares could be arranged. or the unsold ones from the ipo similar to sdm making them available previously.

 

That stance makes no sense to me.

 

Is them not being rich more important than the long-term success and sustainability of the Club?

 

Any new share issue must be offered to existing shareholders first, that means the "spivs" (really dislike that word) get the chance to proportionally increase their holding before anyone else gets the chance - including King.

 

There won't be a new share issue until the controlling shareholding block can find a way to hedge their losses. That will be in the form of a director, or connected party loan secured over Ibrox. As an example, they will loan the Club £2.5m with a £2.5m arrangement fee to be repaid when ST money comes in, or repaid across the year or across two lots of ST money etc. Either way, there's pretty much no benefit to having a share issue for the controlling shareholding block at this stage.

 

For me, worrying about them getting rich is closing the stable door after the horse has bolted and went on to live a full life before dying of old age. That ship has sailed and subsequently been decommissioned. The second we allowed these shareholders to buy the Club, them making money one way or another was guaranteed. It may be unpalatable to some to buy shares from them, but the fact remains they bought the Club,

 

The only shareholders remaining who got shares for less than 50p is McCoist, so right now each and every single shareholder is sitting on a loss - the BPH consotrium included.

 

Fans have to step up, and ggrab a greater say in the Club. We have to make sure that the long-term success of the Club is at the forefront of everything the Board are doing and that share price is a distant second.

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your ideas great mate. but it won't work while we are run by the self serving spivs.

 

at best they will hold you to randsom over share prices and at worst you will get absolutely no meaningful say despite spending millions.

 

actually at worst they will turn you over after spending millions with a controlled administration.

 

but good luck to you someone needs to remove them and this is as good a start as any.

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Folks, the other thread about Supporters Direct and the new CIC proposals for fan ownership has been closed because it was going round in circles and not going anywhere.

 

It would be appreciated if we could keep this thread more on topic about the new proposals and try not to veer into such a wide-ranging discussion about ongoing and past issues at the RST.

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I invested with BuyRangers.

 

I'm drawing the line right there.

 

I won't be making monthly payments or giving money to any new scheme.

 

Fan ownership is the right path to follow - and I have followed it - but no more money will be changing hands.

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I look forward to hearing what is proposed in Friday's meeting. I hope it is listened to with open minds that then calmly think and discuss its merits as a way forward for fan involvement in the club and that everyone then proceeds on the basis of what is best for Rangers FC*, regardless of past personal feuds or years of dedicated service to other schemes, because what is important is to get a scheme moving forward at speed to save Rangers - nothing else is remotely important in comparison.

 

 

 

 

*Sadly this is more in hope than expectation vis-a-vis the on-line communities, but out there amongst the bulk of fans (who know little or nothing about all the internecine nonsense and care less) perhaps, just perhaps...

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