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Rangers agree £1.5m loan with Park, Letham & Taylor


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I absolutely want the board of the club I've supported from childhood and had a season book for over 10 years with to fail at one of the most critical junctures in our history, despite that if they do fail it could be the end for us.

 

That tripe really takes the biscuit even for the online world

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I don't disagree with most of that apart from I have a few early grumbles about the new board. That doesn't mean I'm calling for their heads by any means but scrutiny from day one won't do anyone any harm.

 

You were the biggest cheerleader of the 120 day review.

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You were the biggest cheerleader of the 120 day review.

Yes and that turned out to be a mistake, I think it was properly in intended by Wallace but he had too many problems with other board members. In saying that I mainly felt it was harsh for people to be calling for Wallace to leave and I'm not calling for anyone to leave.

 

Llambias and Leach technically only were in position for a matter of weeks but you never got me calling for them to get more time, I have learned some lessons.

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Yes and that turned out to be a mistake, I think it was properly in intended by Wallace but he had too many problems with other board members. In saying that I mainly felt it was harsh for people to be calling for Wallace to leave and I'm not calling for anyone to leave.

 

Llambias and Leach technically only were in position for a matter of weeks but you never got me calling for them to get more time, I have learned some lessons.

 

No you just disappeared when they were in charge now your all full of standards all of a sudden.

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No you just disappeared when they were in charge now your all full of standards all of a sudden.
I disappeared from here for a while because of every thread becoming tedious discussions like this. I can easily direct you to my RM posts about them however. Edited by simplythebest
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'You should all be ashamed': Rangers chief Paul Murray launches stinging attack on regimes that dragged Ibrox club to near financial ruin.

 

NEW Ibrox chairman Murray hit out last night as he announced a £1.5m cash injection from the Three Bears and accused those who used to run the show at Ibrox of striking deals that drove Gers to the brink.

 

PAUL MURRAY last night launched a blistering attack on the men who have run Rangers into the ground – then insisted the new regime don’t need more of Mike Ashley’s money to rebuild the club.

 

Murray spoke out after announcing that the Three Bears consortium have agreed to pump £1.5million of crisis cash into Ibrox free of charge, in a deal which means Ashley’s offer of another £5m bail-out will no longer be drawn down.

 

The new loan – struck with wealthy fans Douglas Park, George Letham and George Taylor – will be used to keep the business trading in the short term, with the latest monthly wage run due on Thursday, while interim chairman Murray presses ahead with plans to launch a multi-million pound share issue.

 

But Murray admitted to being “appalled” at the extent of the financial mismanagement he has uncovered since he and Dave King won control of the boardroom earlier this month, along with fellow directors John Gilligan, Park and John Bennett.

 

He savaged the likes of Craig Whyte, Charles Green, David Somers and Derek Llambias for the actions which have sparked four years of turmoil and insisted a small fortune has been recklessly thrown away.

 

In an official statement he said: “Many of the people who have occupied the boardroom during that period should be ashamed of themselves for the parts they played in dragging this great institution towards near financial ruin.

 

“It is actually difficult to look closely at the club’s finances and understand the rationale behind some of the decisions taken.

 

“Let me give just two examples of the recklessness displayed by those who were removed from office just more than two weeks ago.

 

“One is the amount, in the region of £300,000, spent on a needless General Meeting and the other is the signing of five Newcastle loan players without medicals. It is appalling.”

 

All the latest news from Ibrox

 

Murray then insisted that would-be chairman King, who has returned to South Africa, is also preparing plough his own cash into the club despite playing no part in the short-term bail-out yesterday.

 

He said: “He is not doing so at the moment because, as we have said, we respect the processes of the SFA and must wait until they have completed their review of Dave’s status before he can fully participate in the future of the club.

 

“After that we will be inviting him to invest alongside the gentlemen who have just provided today’s facility and others who are willing to invest.

 

“We can and we will rebuild the club and this £1.5m investment is stage one of the process.”

 

The tense stand-off between the new regime and Sports Direct owner Ashley, however, shows no sign of abating.

 

Ashley had a £10m cash package accepted by the old board in January, the first £5m of which has already been handed over.

 

In their last act before being routed by King’s men, axed CEO Llambias and former financial director Barry Leach had started the process of accessing the second tranche of cash.

 

But Murray said: “We have already made it clear we are happy to engage with Sports Direct but the board has decided against drawing down the second £5m tranche.

 

“We are still in the process of reviewing all the contractual relationships Sports Direct has with the club and hope to conclude this review shortly.”

 

http://www.dailyrecord.co.uk/sport/football/football-news/you-should-ashamed-rangers-chief-5388950

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So who is Roddy Watt and Newgate, is that our new NOMAD's?

 

Newgate is a city PR/Communication firm with Roddy Watt being one of their client advisors.

 

Not sure what is happening with respect to appointment of a new NOMAD; has anyone heard anything on this?

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