ian1964 10,417 Posted May 4, 2014 Share Posted May 4, 2014 Rangers in crisis: Entire Ibrox board reported to police in storm over statements made by CEO Graham Wallace INVESTMENT banker Phil Maher claims Wallace misled fans over the club's finances and he has asked police to examine whether the board committed an offence by failing to stop the chief executive. RANGERS' entire board of directors have been reported to police investigating statements made by chief executive Graham Wallace. Investment banker Phil Maher made two new allegations to detectives who travelled to London on Wednesday. He earlier claimed that Wallace misled Rangers fans over the club’s finances. In a three-hour interview, he alleged Wallace has made other misleading statements. Maher – a shareholder and lifelong Rangers fan – also asked police to examine whether the board committed an offence by failing to stop Wallace. Last week, we revealed Maher had complained about comments made by Wallace at the club’s annual general meeting in December. He claims Wallace misled shareholders when he said the club had enough funds to operate until May before the board took out a £1.5million emergency loan two months later. However, a new complaint relates to comments made by Wallace about season ticket sales on Friday, April 25. Fans have been told they must pay by cash after payment providers First Data Solutions insisted on full security in return for their services. Wallace claimed the firm had made the demand after Dave King, who wants to take over the club, called for a season ticket boycott. Maher, who declined to comment yesterday, told police that is misleading because the credit issue was first raised with Rangers in January, a month before King’s boycott plea. A Rangers spokesman said yesterday: “The club has no knowledge of any erroneous complaints of this nature which, if they are ever put to the football club, will be defended rigorously as they have absolutely no grounds. “As these complaints appear to be vexatious, we will consider our legal position with regards to defamation.” Some disgruntled Rangers supporters held a red card protest against the board during their League One clash with Dunfermline at East End Park yesterday. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-crisis-entire-ibrox-board-3494316 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted May 4, 2014 Share Posted May 4, 2014 Whether you agree with legal action or not possibly only Rangers could dismiss the 'blamegame' overcredit as they have absolutely no grounds. Going to the police may very well be vexaitious since the idea is plainly to run certain people out of town, but groundless? Defamatory? Never in a million years. At the very least, although it will be expensive, this sort of response ought to ensure subsequent passengers on HMS Gravy Train will think twice about being so blatant with their bullshit. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,417 Posted May 4, 2014 Share Posted May 4, 2014 Gordon Waddell: Rangers chief Graham Wallace's bonus leaves him fair game for critics THE 100 per cent bonus is not the problem - it is how Graham Wallace earns it reckons GORDON WADDELL. THE first thing Graham Wallace should have done the day he set foot inside Ibrox was put himself beyond reproach. Beyond accusations of having his snout in the trough. Beyond the belief he was just another businessman in it for what he could get out of it. It shouldn’t have been hard. Let’s face it, when the men before you were Craig Whyte, Charles Green and Craig Mather, you don’t have to show that much backbone to put you even halfway up the evolutionary scale and be regarded as a major upgrade. And when the club are employing a multitude of PR advisers, on tens of thousands a year? Surely one should have taken Wallace aside on day one, earned their corn and put him in a bombproof box. Told him what to avoid. But no. Thanks to a shareholder called Billy Paterson and his knowledge of the Companies Act 2006, and section 229 in particular, the exact extent of the chief executive’s remuneration is now public knowledge. His salary? Top end, he’s on £315,000 a year. But then, anyone arguing that the chief exec of a multi-million pound business, particularly one with a massive public profile totally out of proportion to its actual value, shouldn’t be well weighed in would be miles off. That’s not the problem. The 100 per cent bonus is. Or rather how he earns it. Take Stewart Regan at the SFA. He’s on a hefty wedge with incentives built in – but the key performance indicators he must meet to get them are detailed down to the last pound earned and every kid attracted to play the game. Those and dozens of others. Wallace? The terms of his bonus are so vague, so indistinct, it pretty much looks like he just needs to turn up to get it signed over. Throw in the £25,000 wage increase for the team reaching the top flight – cunningly not a Stockbridge-esque performance-related bonus but a cheeky wee eight per cent rise nonetheless – and he’s absolutely golden. The club posting pre-tax losses of £3.5million on his watch for the seven months to the end of 2013. It’s not performance related, then. Listen, he’s entitled to a wedge. There’s not a salary big enough that would persuade me to step into the middle of their s***storm and deal with what he has to. But if you’re going to be daft enough, after all that’s gone before, to take a 100 per cent bonus, you damn well better be seen to be earning every penny of it. THAT’S the problem he has. One of perception. Even though I don’t believe for a minute he is, it makes him look every bit as bad as his predecessors. Rangers fans shouldn’t forget it wasn’t Wallace who kicked off the profligacy that got them into this mess. It wasn’t Wallace who put the manager on nearly three times the dough of the chief executive. It wasn’t Wallace who sanctioned the deals that see the likes of Emilson Cribari and Ian Black pulling in eight grand a week, or the guts of the first team raking in anywhere between a quarter and half-a-million a year for seeing off two-bob teams. These figures are a greater affront to the club’s business than the chief exec earning the going rate. But he couldn’t do anything about those deals. He COULD have done something about his own. And if he thinks he deserves his bonus, he could have been doing a damn sight more to make it look like he did. Only one other industry has a similar kind of culture – and their business has lain with its throat cut needing bailout after bailout. The last thing you’d want to be compared to is our struggling banking industry – bonus or no bonus. 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted May 4, 2014 Share Posted May 4, 2014 No Billy Paterson and No transparency on this. What else lys beneath the veneer of spin and rhetoric that comes from the board that we cannot trust. Even with a contract laid bare we are still left guessing as to what may trigger the main 100% bonus, so you could say that fog is also inserted into contracts, just as regulatory notices to the stock market have been used at times to contribute to the spin. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,249 Posted May 4, 2014 Share Posted May 4, 2014 And since he left "himself open to be fair game", another journo needs to follow his media friends and jump in. Wonder how often the press will give us the same stuff time and again this summer. 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted May 4, 2014 Share Posted May 4, 2014 And since he left "himself open to be fair game", another journo needs to follow his media friends and jump in. Wonder how often the press will give us the same stuff time and again this summer. What would you recomend, to ignore it ? He's not really following his media friends. It's more a case of the media as a whole covering a specific within the ongoning soap opera that was prompted by the intiative of a shareholder/supporter. 0 Quote Link to post Share on other sites More sharing options...
Traditionalist 0 Posted May 4, 2014 Share Posted May 4, 2014 Just my opinion here, but anyway... Wallace has an impressive CV, and he has been given a poison chalice of a job. The level of suspicion and hysteria around our club at present is beyond a joke. Whilst I personally cant fathom why he needs a bonus for the teams promotion, I'm sure he never drew up his own contract. The point of my post however is this. The cabal of ****-friendly media who conspired to kill our club and failed miserably have seized upon this issue and are using it to hinder the recovery progress of our club. Scratch beneath the surface & you will find that stories such as this are not designed to inform the Rangers support of how things are going, but rather to cause trouble & infighting amongst ourselves. In short, we are being played like idiots, and its to the benefit of the disgusting beasts across the city. 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted May 4, 2014 Share Posted May 4, 2014 Just my opinion here, but anyway... Wallace has an impressive CV, and he has been given a poison chalice of a job. The level of suspicion and hysteria around our club at present is beyond a joke. Whilst I personally cant fathom why he needs a bonus for the teams promotion, I'm sure he never drew up his own contract. The point of my post however is this. The cabal of ****-friendly media who conspired to kill our club and failed miserably have seized upon this issue and are using it to hinder the recovery progress of our club. Scratch beneath the surface & you will find that stories such as this are not designed to inform the Rangers support of how things are going, but rather to cause trouble & infighting amongst ourselves. In short, we are being played like idiots, and its to the benefit of the disgusting beasts across the city. With all due respect and IMO you are living in utter denial. Open your eyes and and have a look over the past few years, right up until the present day. We are being played for idiots though, but by our own club. 0 Quote Link to post Share on other sites More sharing options...
Guest OH DAE SU Posted May 4, 2014 Share Posted May 4, 2014 100% bonus disgusting imo 0 Quote Link to post Share on other sites More sharing options...
Traditionalist 0 Posted May 4, 2014 Share Posted May 4, 2014 We are being played for idiots though, but by our own club. That has always been the way. The charlatan David Murray treated the fans with contempt & the club as his personal plaything for years. As one who stayed away for long periods of Murrays tenure, I just find it amazing that people who stood back and said nothing whilst he trampled on everything we believed in, are now up in arms against what appears tome to be a well qualified man to help get us out of the mire. That said, I'd have a lot more faith in him if he were to show McCoist the door, and send McCulloch, Black, Simonsen, Forster, Cribari, Daly, Faure, Hutton, Bell, Templeton and several others packing too. I'm not sure what it is I'm in denial about however. 0 Quote Link to post Share on other sites More sharing options...
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