RFFF Accounts

[Zappa 0]

Technically, the RFFF was established after we entered Administration to ensure that Rangers survived until a new owner was found by Duff & Phelps. The fund was to be used for any shortfall in the weekly running of the club. The RFFF committee (through correspondence with fans group members) was then to later decide on what any excess monies accrued were to be used for when we emerged from Administration.

 

After Green & co's newco takeover, the original RFFF remit was expanded beyond what was originally intended as it was originally stated that monies would not be used to pay for any legal fees, but then it was decided that some would be used to help fund the legal battle with the SPL (Celtic) with regards to title stripping.

 

Since then the money appears to have been kept as a sort of rainy day fund and it's probably extremely prudent that it stays that way since clearly the Club is not yet completely out of troubled waters.

 

The smart thing to do would be for the RFFF to provide an up to date account of the remaining monies and to issue a statement to the effect that the money will be kept safe until such time that the Club is back in the top flight and in much better financial shape.

[Hildy 0]

One has to wonder why the company controlling the club is borrowing money on commercial terms - which are not generally thought to be in Rangers' best interests - when a fund that was specifically set up to assist it financially is not contributing a penny piece.

 

Did Rangers approach the RFFF for financial help?

 

Did the RFFF refuse their request?

 

Has the RFFF even discussed the matter?

 

Maybe the RFFF has reservations about the current regime at Ibrox, which is fair enough, but when Rangers are borrowing money commercially while a fund that could contribute around a third of the money required is lying dormant, questions really have to be asked.

 

If Rangers approached the RFFF, we should be told. If it didn't, we should ask why not.

 

Fans must have raised around £600,000 for this fund. What exactly is it for?

[Zappa 0]

Worth remembering this use of funds too - http://www.rangers.co.uk/news/headlines/item/1248-crucial-work-underway

[Bluedell 5,329]

This is what the RFFF is for:

 

'Money raised through the 'Fighting Fund' will go to the club's running costs.'

 

 

My recollection was that it was to specifically go towards oldco post administration running costs

[Bluedell 5,329]

Bluedell, is that the Association group RSA?

 

Do you know their Facebook page site?

 

Not the Association, it was the Assembly,

 

Do a search for "The Bluenose - Rangers Supporters Assembly" on facebook and you should should find it.

[the gunslinger 3,366]

Scouting network?

 

Payed for a copy of champ man 2014.

[Hildy 0]

My recollection was that it was to specifically go towards oldco post administration running costs

 

There was no plan B?

 

Oldco is currently being buried.

 

So where does the money go now?

 

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[Bluedell 5,329]

There was no plan B?

 

Oldco is currently being buried.

 

So where does the money go now?

 

 

See post 11?

[Hildy 0]

Technically, the RFFF was established after we entered Administration to ensure that Rangers survived until a new owner was found by Duff & Phelps. The fund was to be used for any shortfall in the weekly running of the club. The RFFF committee (through correspondence with fans group members) was then to later decide on what any excess monies accrued were to be used for when we emerged from Administration.

 

After Green & co's newco takeover, the original RFFF remit was expanded beyond what was originally intended as it was originally stated that monies would not be used to pay for any legal fees, but then it was decided that some would be used to help fund the legal battle with the SPL (Celtic) with regards to title stripping.

 

Since then the money appears to have been kept as a sort of rainy day fund and it's probably extremely prudent that it stays that way since clearly the Club is not yet completely out of troubled waters.

 

The smart thing to do would be for the RFFF to provide an up to date account of the remaining monies and to issue a statement to the effect that the money will be kept safe until such time that the Club is back in the top flight and in much better financial shape.

 

When did the RFFF last do the smart thing and make an official statement about the size of the fund and its intentions for it?

 

The rainy day scenario makes sense, but when was this ever made clear to the thousands of fans who paid into it?

 

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[Zappa 0]

When did the RFFF last do the smart thing and make an official statement about the size of the fund and its intentions for it?

 

The rainy day scenario makes sense, but when was this ever made clear to the thousands of fans who paid into it?

 

I can't remember when the RFFF last released an official statement. There were official announcements about large donations right up until late October 2012 IIRC, but it basically went pretty quiet after Green & co took over. At a guess, I'd say the last statement about action from the funds was around January 2013 when it was decided and announced that some money would be getting used for defending us against the title stripping farce.

 

I wouldn't suggest pestering him, but if anyone is overly worried about the situation with the RFFF and the silence from the committee, then you could always just try getting in touch with Jim Hannah and ask him politely what the state of play is.