buster. 4,808 Posted August 31, 2014 Share Posted August 31, 2014 Sunday Mail story 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.” It would be standard practice for the sp.ivs. X arrives and is pushed as the NEW and HONEST broker who wants transparency, fan engagement and an end to what has gone before (including undeserved bonus culture). Prior to making such an introductory statement, he has already signed a contract with a 100% bonus clause with unclear specification regards trigger(s). He then misleads, lies and achieves 120 days of 'not a lot', x3. He then leaves (very probably) with 100% bonus not wanting to engage with fans or be transparent on the subject. It shows up in 2015 accounts when long gone. (if there is accounts in 2015). Appoint another CEO, this one is the real deal, honest Guv !! This story has other angles regards sp.iv divisions but best for another thread or indeed for later in this one. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 31, 2014 Share Posted August 31, 2014 This is where our money is going. Unacceptable 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,254 Posted September 1, 2014 Share Posted September 1, 2014 This is where our money is going. Unacceptable What performance targets were met in order to qualify for this bonus? This question needs to be answered 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted September 1, 2014 Share Posted September 1, 2014 This is where our money is going. Unacceptable Among plenty other places but yes, it is unacceptable. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted September 1, 2014 Share Posted September 1, 2014 I'll be quite surprised if Graham Wallace is still here by Xmas. Much more likely that he bails before the shit hits the fan. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted September 1, 2014 Share Posted September 1, 2014 I'll be quite surprised if Graham Wallace is still here by Xmas. Much more likely that he bails before the shit hits the fan. To be replaced by another patsy? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted September 1, 2014 Share Posted September 1, 2014 To be replaced by another patsy? Aye, no doubt. New face, new ideas, new business review, new moonbeams etc etc 0 Quote Link to post Share on other sites More sharing options...
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