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Apart from the heinous nature of the reply - and I leave that to admins to rectify or not - the problem is not dismissed, but it is not one that needs to be portrayed as a major stumbling block for Ashley's investment right now.

We need long term investment. I would have thought that was pretty obvious.

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Rangers chief executive Graham Wallace sparks fresh cash fears as he refuses to deny he'll take 100% bonus on salary.

 

 

Aug 31, 2014 08:18

By Gordon Waddell

 

SUPPORTERS have expressed their anger as a club spokesperson insisted Wallace had not been paid a bonus but refused to say whether he would be given the money at a later date.

 

GRAHAM WALLACE came under fresh fire last night for refusing to deny he’ll be taking a 100 per cent bonus on his £315,000 salary.

 

The Rangers chief and club board were berated during their team’s 4-2 win over Queen of the South after their begging-bowl share issue announcement on Friday morning.

 

One protestor stood behind the directors’ box holding up a banner that read: “No more faceless investors.”

 

And the supporters are fuming at the news of a fudged statement on Wallace’s controversial rewards package.

 

Documents released at the start of May revealed the chief executive could double his annual salary with today the expected deadline for payment.

 

In a club statement yesterday, a spokesperson insisted he hadn’t been paid the cash – yet.

 

But they refused to state whether he would be accepting the money at a future date.

 

They stated any payment would be recorded in the club’s accounts – which will not be publicly available for another 18 months following the end of their financial year on June 30.

 

In a carefully-worded statement, the spokesperson said: “Mr Wallace has not received a bonus.

 

“Any payments awarded going forward will be disclosed in the annual accounts in the usual manner.”

 

When asked to clarify if Wallace will take a bonus at a future date, the spokesperson insisted the club would be making no further comment.

 

The woolliness of Wallace’s denial has prompted an angry response from the Union of Fans group representing the rump of Gers’ supporters’ groups.

 

Spokesman Chris Graham said: “It seems preposterous to even be discussing the possibility that Wallace might take a bonus, given the financial state of the club and a lack of tangible progress since he took over as CEO.

 

“It shows how disconnected the board are from the fans. It is a simple matter for Wallace to answer. Is he or is he not taking a bonus?

 

“The fact he hasn’t yet received one could simply be down to the current financial position. If the board manage to raise money are we going to see some of it used to pay Wallace a bonus?

 

“If so, on what possible grounds could he be entitled to that bonus?

 

“Wallace and the board should come clean and tell the fans, and indeed shareholders, the truth – is he taking a bonus or not?”

 

Rangers disclosed details of director service contracts under Section 229 of the Companies Act 2006. These outline salary details, bonuses and terms employment.

 

Wallace’s contract does not give exact details of how the bonus can be secured. However, half – £157,500 – can awarded for individual performance and there’s a further 50 per cent based on “total company performance on financial and non-financial targets, as agreed by the board”.

 

Meanwhile, Ally McCoist hailed his players for blanking out the fans demo during yesterday’s victory.

 

But the Ibrox boss told his stars they will have to keep up the focus that has got them through the last two troubled years as the club’s civil war shows no signs of stopping .

 

Thousands of fans turned Broomloan Stand into a sea of red cards, which they produced on the 18th and 72nd minutes – the year of the club’s formation.

 

McCoist said: “I congratulate my players. You have to blank it out. It can’t become an issue.

 

“If we lose track or focus on our job then the game’s a bogey. We can’t let it affect us but it’s easy to say that, doing it is a different thing so the lads deserve a lot of credit for their focus.

 

“Long may that continue because it will have to continue.”

 

McCoist was unhappy, though, at defensive errors that gifted Queens their goals and put Rangers under pressure. He said: “If we are going to defend like that we will give ourselves a mountain to climb. The goals we lost were inexcusable.”

 

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-chief-executive-graham-wallace-4137899

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I think the Wallace bonus issue (question) is something that can be useful to highlight the way this board operates if done effectively.

 

Supporters + Wallace on camera (mobile if necessary)

"communication and engagement" with CEO.........come on GW let's have a trial

 

Graham, I'm sure you understand the need of the support for transparency so as to generate some trust and thus begin to solve the biggest problem you have. With this and the 'engagement intiatives' you have been talking about in mind, can I ask you a question..........

 

The due date for payment of the bonus as per your contract is past, has your bonus been approved or not ?

 

Follow-up may be required to ascertain how much of the bounus has been approved.

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