Frankie 8,145 Posted March 26, 2014 Share Posted March 26, 2014 http://www.dailyrecord.co.uk/sport/football/football-news/keith-jackson-its-check-mate-3286265#.UzKOhg6Tggg.twitter HE says he’d rather woo them to death than go to war with them. But be in no doubt. When Dave King broke cover on Monday afternoon to conduct a series of one-to-one interviews he was in fact launching a strategic exocet straight to the top of Ibrox’s old marble staircase. The language he used may have been low key in parts, almost to the point of appearing conciliatory, but when King stressed the current regime should be given time to be as good as its word he was calling these men out. He was double daring them to go back on their promises of serious investment and of nurturing Rangers back into a rude state of health both on and off the park. The long-term exile compares this protracted negotiation to a game of chess. Well, effectively, he just checked Graham Wallace’s king. Because now the chief executive has little more than two weeks to come up with a business plan that flies in the face of the fundamentals Wallace has been preaching ever since agreeing to become the acceptable face of this board ahead of last December’s agm. From day one Wallace has been preparing the club’s supporters and management for strident cost cuts. Now he might be obliged to deliver exactly the opposite. All of which places the CEO in a bit of pickle if his own credibility is to survive this South African onslaught. Then again Wallace has been stuck between a rock and a hard place for months now after stepping into this mess and then protecting the board from a potential bloodbath at that stormy shareholders meeting. He threw himself on a grenade that day by promoting his own credentials as a man who could be trusted. He presented himself as an executive officer beyond reproach and one completely independent from the list of who had come and gone before. He asked to be given time. And he got it. But perhaps the only thing consistent about Wallace since then has been his own inconsistences. He has spoken many times for example about an urgent need to restructure the club’s finances, while also sporadically popping his head above the parapet to insist Rangers have never been in danger of running out of cash in the short to medium term. He has proposed 15 per cent wage cuts for all of Ally McCoist’s first-team squad then waved them off for lunch and afternoon naps at Carnoustie the next day. He has insisted the club has all the cash reserves it needs to keep the floodlights on. Then whipped out the begging bowl to secure emergency finding at exorbitant rates. There has been a string of inconsistences. But this time Wallace had better not deviate from the pledges his board has offered King or all hell is likely to break loose. In other words if Wallace even attempts to implement the cost-cutting he has been championing since his arrival then King will call for an instant uprising and full-scale revolt. His message is simple, Rangers need cash (his cash and lots of it) not cuts. There is no room here for Wallace to wriggle. He slashes costs – and risks losing millions more in season-ticket cash – or accepts King’s money. Either way, King and his cash almost certainly win. Check mate. All of which brings us to the other key component of King’s strategy. And this one is not so easy to fathom on a whole number of levels. First of all he says he is good for anything up to £50million. What’s more he says he doesn’t expect to see a penny of it back. Coming from a man who has only just signed a similarly-sized cheque to the South African taxman this means King stands to take one helluva hit. In all, over a four-year period, he could be kissing goodbye to the bones of £100m. There are many who suspect King’s pockets are not deep enough to cover such massive losses and, as it is impossible to put a number on the exact scale of his wealth (no, it’s not been picked up on any radar either), it is hard to argue solidly either way. But King seemed relaxed about it on Monday when he said: “I’ve lost £20m in Rangers already and I’m happy to lose another £30m because I love the team. “I don’t want to be arrogant but it might be easier for me to lose £30m than it is for some fans to afford season tickets.” Before adding: “Would it be irritating to lose £7m? Of course it would. But would it change my lifestyle? Not even remotely.” Not only was this all a bit too brash, bordering on vulgar, but it sends out a message that many Rangers fans could or should find alarming given their traumas of recent times. It suggests good housekeeping and self sustainability is set to be buried under a fresh avalanche of hubris and excess. And look how that worked out last time. But those close to King remain adamant that, although the initial numbers are huge, his long-term policy will be one of prudence and a club living within its own means. King has shared this vision with institutional investors in London while asking them to hold firm and not head for the hills. He has promised to help them protect their investments by sticking up the money required to allow the club to prosper quickly and engage with Celtic in the scrap for Champions League lolly. And then he believes the club will pay for itself. If this is the long-term future under King his plan should indeed be sustainable. In fact he and his investor pals may even claw back some spare change at the other end. But first there will be war. The board’s next move will determine if King continues with this humanitarian policy of killing them softly. Or if more something more brutal and bloody will be required. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted March 26, 2014 Author Share Posted March 26, 2014 Lots of fair points from Jackson but I'm not convinced we're anywhere near a solution yet... 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted March 26, 2014 Share Posted March 26, 2014 Lots of fair points from Jackson but I'm not convinced we're anywhere near a solution yet... Miles away IMO. The men/man with the power wants their pay day and I'm not sure diluting their holding holds much attraction. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted March 26, 2014 Author Share Posted March 26, 2014 Miles away IMO. The men/man with the power wants their pay day and I'm not sure diluting their holding holds much attraction. Yep, that's clearly a big problem for King. He's doing a reasonable job of applying pressure but these people are not easily scared off. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted March 26, 2014 Share Posted March 26, 2014 The 'back to the old days' argument is weak pish, indeed. Getting a donation from someone to fund all sorts of things which have fallen into ruin over the last 10 years or so is hardly the same as tax avoidance or bank debt. On the one hand we're supposed to rebuild the infrastructure, get youth & scouting systems in place, and compete for the title, but on the other hand when someone says they'll fund it it's vulgar, brush & hubristic. Bollocks, man. 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted March 26, 2014 Share Posted March 26, 2014 I wonder how much KJ really knows. It's built on "those close to King" opinions and a bit lacking in direct quotes, so really a fluff piece built on yesterday's news. However, better media coverage than the last couple of years. 0 Quote Link to post Share on other sites More sharing options...
26th of foot 5,827 Posted March 26, 2014 Share Posted March 26, 2014 Keef has penned an article on ambient music. Here's the mood around Ibrox, then there's the mood in London surrounding institutional investors, and the mood on the veldt. If the current Board are really heading for der Bunker, then let's get the playlist ready for Bunker clearing. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted March 26, 2014 Share Posted March 26, 2014 Yep, that's clearly a big problem for King. He's doing a reasonable job of applying pressure but these people are not easily scared off. As welcome as King's financial commitment is, all it see are bears getting over excited. Lad in work yesterday said this was the best news in four years. Not sure he wanted my realistic opinion that King's money could be another few years away. Bears want the investment, the club needs it, we need to see what areas of the club will be invested in. BPH and co want to know what's in it for them. A Fergus McCann style van in the car park protest! Anyone? 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted March 26, 2014 Share Posted March 26, 2014 At least someone is calling them out, and for the first time they may have a problem. It presents a conundrum, I want this Board out and King looks like the only way, yet I'm not convinced going back to a 'Dictatorship' will be good for us in the long run. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,145 Posted March 26, 2014 Author Share Posted March 26, 2014 As welcome as King's financial commitment is, all it see are bears getting over excited. Lad in work yesterday said this was the best news in four years. Not sure he wanted my realistic opinion that King's money could be another few years away. Bears want the investment, the club needs it, we need to see what areas of the club will be invested in. BPH and co want to know what's in it for them. A Fergus McCann style van in the car park protest! Anyone? Yeah, a season ticket stand-off still seems likely. I guess we may know a bit more in the next few weeks and, as mentioned earlier, there are signs of the board are feeling the pressure. 0 Quote Link to post Share on other sites More sharing options...
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