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Regan: Rangers' financial position is 'concerning for Scottish game'


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Scottish FA chief executive Stewart Regan has expressed concern over Rangers' financial position, saying it is "concerning for the Scottish game".

 

The Ibrox club have admitted they may not have enough cash to meet costs between now and the end of the year, having taken £3m in secured loans from Mike Ashley for short-term working capital.

 

"Well obviously it is concerning for the Scottish game," Regan told STV.

 

"We would all like to see Rangers improve their financial position in order to bring money to the game of football in Scotland.

 

"Rangers have got a strong economic impact, not just for Glasgow but for Scotland generally.

 

"In that regard I know the fans are desperate to see success again. They are desperate for stability.

 

"They've had a number of years of ups and downs now and I think they are hopeful they will get some certainty and stability in the future."

 

In a statement to the Stock Exchange earlier this month, Rangers made clear their dire financial situation.

 

"During the autumn, the club has suffered from lower than expected match attendance which has exacerbated the financial condition of the business.

 

"The directors have begun a cost cutting exercise, but further working capital in addition to the facility will be needed before the end of the year."

 

http://sport.stv.tv/football/clubs/rangers/301050-regan-rangers-financial-position-is-concerning-for-scottish-game/

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Scottish FA seek talks with Mike Ashley over Rangers influence.

 

The Scottish FA are seeking talks with Mike Ashley over his growing influence at Rangers.

 

The governing body wrote to the Newcastle United owner last month seeking clarity over the extent of his involvement at Ibrox.

 

Ashley, who holds a nine per cent shareholding in Rangers, has provided secured loans to the value of £3m within the last month to meet working capital needs.

 

He also gained permission to have two of his representatives added to the club's board.

 

Speaking to STV, the Scottish FA's chief executive Stewart Regan outlined the current position.

 

"We've been in regular dialogue with Mike Ashley's lawyers through MASH Holdings. It's still ongoing at the moment, we are still in dialogue.

 

"The next stage is to meet with Mike and his advisers and obviously get some clarification around some of the concerns we have got.

 

"We have a situation in our articles which prevents dual interests in football clubs. We gave Mike Ashley the ability to have up to 10 per cent shareholding in the club.

 

"As part of that, there was a commitment there would be no management or influence at Rangers Football Club.

 

"Clearly we want to have a better understanding of his position in that regard."

 

http://sport.stv.tv/football/clubs/rangers/301052-scottish-fa-seek-talks-with-mike-ashley-over-rangers-influence/

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Wow has the penny finally dropped for this complete clown?

Maybe his chum Dumbcaster has told him he cant get sponsorship for the SPFL without Rangers in the top division?

All of this is too little far too late fromRegan.Back in 2012 he was going round trying to make up punishment after punishment for Rangers. Even if the courts said otherwise at times. Not once did he (and quite a few others too I might add) stop for one minute to consider Rangers might have been the victim of a fraudulent takeover and didnt owe HMRC anything regards the BTC. And not to mention the SPL launching its own investigation into EBTs with the aim of title stripping to benefit one club. Thankfully LNS saw sense.

No but instead of waiting to see how things would develop what did he do ? He allowed the other clown Dumbcaster to let the then SPL chairmen to vote us out the SPL. The SFA should have taken the decision what league Rangers were to play in.No leadership at the SFA said Ally McCoist. How right he was.

And do you know what? We're all suffering now.The game in Scotland is in crisis and has no money thanks mainly to Regan and the rest.No SPFL sponsorship and a TV deal arranged by Dumbcaster and the sleekit Liewell worth peanuts.

Time is up for Regan. Go now and take the rest of your failures with you

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Apparently our AGM is going to be on Dec 22. (SoS say so, I think) 'night all

 

Sons of Struth ‏@SonsofStruth 24m24 minutes ago

22nd December Royal Concert Hall could be busy

 

Interesting timing yet again. Anyone starting a book on the accounts coming out on Monday in the shadow of a Scottish Cup defeat or upbeat joy of a victory?

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