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The Rangers board and I issued separate public statements following our meeting last month. I made one correction to the RangersÂ’ statement but the Rangers board saw no cause to correct my statement. The board recommitted to issue the business review within the original 120 day deadline and, importantly, committed that the fans will have access to this review prior to advancing funds by way of season ticket renewals. Despite strong reservations from fan groups I asked the fans to give the board time to honour this commitment. Part of my motivation was that any public company board is bound to act in good faith and that breach of such a share price sensitive commitment would be an ethical, moral, and probably criminal breach.

 

I followed up on this commitment with the board after the recent announcement on season ticket renewals. The Chairman has advised me that the board will now only issue the review at the end of the season ticket renewal period and it will consequently not be timeously made available to fans. Disturbingly, the Chairman has advised me that the true intention of the board had always been to delay issuing the review until funds had been largely collected.

 

I apologise to all fans for wasting time by lending credibility to the board’s false representations. I was wrong to give them the benefit of the doubt. At least we now can no longer have any uncertainty about governance at the club.

 

It is common cause that the club is not a going concern without access to the season ticket loan from the fans. It is also common cause that the season ticket money will only provide partial relief in advance of a more permanent recapitalisation. I have hitherto urged restraint in dealing with the board, however due to this extreme act of bad faith I believe that it is vital that fans now withhold season ticket money from this board and similarly refuse to support the club by way of the purchase of replica kit or any other retail product.

 

An announcement will shortly be made providing details of a bank account that season ticket money can be paid into as an interim measure. The specific terms and conditions of this account will be made available to fans, including the basis on which funds will be advanced to the club and the basis on which funds will be returned to fans. As a minimum, the board must provide the club property as security against the season ticket money.

 

I recognise that fans will have anxiety about “betraying” the club and the risk of loss of a cherished seat at Ibrox. However, the time has come when the trade-off is a potential loss of a seat against the loss of the club. That would be the real betrayal. This board has lost its right to be dealt with on a good faith basis.

 

Richard Gough has agreed to join me as a custodian of the bank account that will be established and fan groups can nominate additional members.

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An announcement will shortly be made providing details of a bank account that season ticket money can be paid into as an interim measure. The specific terms and conditions of this account will be made available to fans, including the basis on which funds will be advanced to the club and the basis on which funds will be returned to fans. As a minimum, the board must provide the club property as security against the season ticket money.

 

So fans give their ST money to DK - how do they then get to watch the match(s)??? Does the Account trustee's forward an amount of money to the club to "purchase" x-number of tickets for names attendees??? I can't see ANY fan wanting to hand over £500 without some rock-solid guarantee that they are going to get the required tickets.

 

As for club property as security - NEVER gonna happen.

 

Other than that, strong words from DK & will be interesting how the board respond (which is the key)!!!

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So fans give their ST money to DK - how do they then get to watch the match(s)??? Does the Account trustee's forward an amount of money to the club to "purchase" x-number of tickets for names attendees??? I can't see ANY fan wanting to hand over £500 without some rock-solid guarantee that they are going to get the required tickets.

 

As for club property as security - NEVER gonna happen.

 

Other than that, strong words from DK & will be interesting how the board respond (which is the key)!!!

 

It's quite a simple concept. You hand over your cash to the trust. They then take it en masse to the club and offer in exchange for your season book, and security on Ibrox/Murray park. If the club accept, you get your book, and our main assets are safe from being used for anything dodgy for a year. If they refuse, you get your money back, and can purchase your own season book as normal through the club.

 

The only risk is that you may, or may not lose your seat. If the club has any respect for it's support, your seat will be reserved until this whole mess is sorted out. Don't hold your breath for that though. It's the last ace they hold.

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So fans give their ST money to DK - how do they then get to watch the match(s)??? Does the Account trustee's forward an amount of money to the club to "purchase" x-number of tickets for names attendees??? I can't see ANY fan wanting to hand over £500 without some rock-solid guarantee that they are going to get the required tickets.

 

Handing over your season ticket money doesn't guarantee you'll get to see 18 games either though.

 

As for club property as security - NEVER gonna happen.

 

Already happened hasn't it?

 

Other than that, strong words from DK & will be interesting how the board respond (which is the key)!!!

 

It will indeed, probably on the blower with Toxic right now.

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My brother just pointed out to me that Somers could have fed Dave King false information in order to provoke this type of reaction.

 

Either way, I think we can probably expect Wallace or the board to claim that it's untrue and that they've always intended to release the 120 day review on schedule, which would be some time next week.

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FRIDAY, 11 APRIL 2014 18:55[h=2]Club Statement[/h]WRITTEN BY RANGERS FOOTBALL CLUB


 

"The Board of Rangers Football Club notes with astonishment the statement issued this afternoon by Dave King.

 

In his statement Mr King makes a number of untrue allegations against the Chairman and the Board of Rangers Football Club alleging bad faith and false representation. The Chairman and the Board refute all such allegations in the strongest terms and have referred Mr King’s statement to the Club’s legal advisors.

Mr King clearly has elected to ignore the Board’s previous public statement following the Board’s meeting with him. In this statement, which was reviewed with him prior to issue, the Board stated that it will issue the results of the business review prior to the season ticket renewal window ending. This position remains unchanged and Mr King is well aware of this having sought personal confirmation on this matter from the Chairman as recently as yesterday. The business review period has not yet even ended, as Mr King is well aware, however he has elected to make yet another public statement to serve his own purposes.

When the Board met Mr King a few weeks ago, he made it clear that he did not want to put another penny into the Club and would prefer to see the Club using other investors' money. The Board was therefore surprised, but gave him the benefit of the doubt when, a few days later, Mr King made media comments about a willingness to invest his money into the Club. This is an easy statement to make to the media but is contrary to what he told the whole Board.

It is extremely disappointing that Mr King should consider it appropriate to issue this latest statement, clearly designed to unsettle and mislead Rangers fans, on the eve of an important Scottish Cup semi-final match. For someone who claims to have the interests of Rangers at heart and as an ex-director, King's untrue comments are nothing short of disgraceful."

 

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The end game has begun.

 

Someone ends up with egg on their faces with claim and counter-claim.

 

The fans suffer. But we WILL have to pick a side.

 

I'm on King's side - I am past the point of no return with this Board. They have done absolutely nothing to gain our trust.

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I do so hope Dave had his phone set to record during his meeting with the Board.

 

 

Sent from my iPhone using Tapatalk

 

I would be surprised if he didnt - we all know how shifty our Board have been over the last few years and how they like to capture the moment on photograph or video footage.....

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