BEARGER 1,829 Posted June 10, 2015 Share Posted June 10, 2015 (edited) RST Response to Mike Ashley The Rangers Supporters Trust notes the statement by MASH today and, given that Sports Directs and MASH have felt the need to attempt to justify their untenable position with regard to Rangers Football Club, we felt it would be appropriate to respond in similar detail. First of all we would like to announce that our members have voted overwhelmingly ahead of the upcoming GM to support the Rangers board recommendations on the resolutions put forward. We will be voting against the MASH Resolution 1 and for the Rangers board Resolution 2. MASH has laid out its concerns about the delisting from AIM. They seem to be ignoring documented fact and attempting to insinuate that the loss of the listing was down the incoming board rather than the previous board, effectively controlled by MASH, which had mismanaged the club over the preceding months. Mr Llambias and Mr Leach, lieutenants of Mr Ashley and appointed by him, as well the Easdale brothers, Mr Ashley’s shareholder allies, managed the club with disgraceful disregard for its fans, staff and well-being over a period of many months. Simply put they ran it into the ground. They ignored concerns of their customers and shareholders and at times deliberately antagonised them. If MASH was concerned about the AIM listing then they should have chosen their boardroom placemen more carefully and ensured they ran the company with proper levels of corporate governance and not simply for the benefit of Mr Ashley. In short, Mr Ashley may well know how to make money for himself at any cost but as can be seen at both Rangers and Newcastle he doesn’t have a clue how to run a football club properly. On the retail side we note Mr Ashley’s points and would make several of our own. 1) Rangers has historically had one of the most profitable merchandise brands in UK football. This was the case up to and including the JJB deal prior to Mr Ashley’s involvement. 2) At no point in the past 20 years has Rangers made as little money from merchandise as they have since Mr Ashley became involved. 3) Sports Direct claim to be experts in retail and indeed they are. They are experts at making money for Mr Ashley however, not his “business partners”. 4) Mr Ashley talks about a “far reaching distribution network”. Ask Rangers fans abroad how that network is working for them as they ask friends and family to post strips to them. 5) Mr Ashley may have a profitable business but it is one that specialises in low price goods. Sports Direct does not have a clue how to grow, market and improve a premium sports brand like Rangers and frankly shows no interest in doing so. In fact, Sports Direct have hugely damaged the Rangers brand through Mr Ashley and his associates antagonistic attitude to fans. 6) If Rangers were to repay Mr Ashley’s loan, recover all securities and revert to the previous Rangers Retail split they would still be the victims of the contracts put in place by Mr Ashley’s lieutenants and would continue to make a pittance whilst Mr Ashley enjoys virtually free stadium advertising and Sports Direct make money at every stage of the retail process. Mr Ashley talks of being a “supportive business partner” yet has called a spurious General Meeting to vote on a resolution that he knows has no binding effect and which will be defeated. He is costing the club more money having already secured assistance from previous board members to hand him ridiculous merchandise deals, virtually free stadium naming, virtually free advertising space at Ibrox and the granting of security over club assets when much more favourable loan arrangements were on offer. Repaying the loan and “equalising profit arrangements” as Mr Ashley disingenuously puts it, does not solve the underlying problem that the contracts he has entered into are solely for the benefit of Sports Direct. It is our position that, unless Mr Ashley renegotiates the current contracts he holds with Rangers Football Club, on terms which are vastly more profitable to the club, then Rangers fans should not purchase any official merchandise. We would also suggest that they should boycott all brands and companies that Mr Ashley is involved with. Mr Ashley’s business practices have been the source of much public debate recently and we fully expect that to continue. Rangers Football Club has suffered as much as any company at the hands of Mr Ashley and his greed at all costs mentality. We will continue to liaise with any interested party to expose exactly how Mr Ashley conducts himself and look forward to making further progress in that regard in the very near future. Share with your network - See more at: http://www.therst.co.uk/news/rst-response-to-mike-ashley/#sthash.gYcEeE0n.dpuf Edited June 10, 2015 by BEARGER 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted June 10, 2015 Share Posted June 10, 2015 wish the rst would ask some more important questions that actually matter. Ashley can flap his gums all he wants , king will decide if we can pay it and by the looks of it there is nadda ashley can do about it. 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted June 10, 2015 Share Posted June 10, 2015 (edited) http://www.therst.co.uk/news/rst-response-to-mike-ashley/ RST Response to Mike Ashley The Rangers Supporters Trust notes the statement by MASH today and, given that Sports Directs and MASH have felt the need to attempt to justify their untenable position with regard to Rangers Football Club, we felt it would be appropriate to respond in similar detail. First of all we would like to announce that our members have voted overwhelmingly ahead of the upcoming GM to support the Rangers board recommendations on the resolutions put forward. We will be voting against the MASH Resolution 1 and for the Rangers board Resolution 2. MASH has laid out its concerns about the delisting from AIM. They seem to be ignoring documented fact and attempting to insinuate that the loss of the listing was down the incoming board rather than the previous board, effectively controlled by MASH, which had mismanaged the club over the preceding months. Mr Llambias and Mr Leach, lieutenants of Mr Ashley and appointed by him, as well the Easdale brothers, Mr Ashley’s shareholder allies, managed the club with disgraceful disregard for its fans, staff and well-being over a period of many months. Simply put they ran it into the ground. They ignored concerns of their customers and shareholders and at times deliberately antagonised them. If MASH was concerned about the AIM listing then they should have chosen their boardroom placemen more carefully and ensured they ran the company with proper levels of corporate governance and not simply for the benefit of Mr Ashley. In short, Mr Ashley may well know how to make money for himself at any cost but as can be seen at both Rangers and Newcastle he doesn’t have a clue how to run a football club properly. On the retail side we note Mr Ashley’s points and would make several of our own. 1) Rangers has historically had one of the most profitable merchandise brands in UK football. This was the case up to and including the JJB deal prior to Mr Ashley’s involvement. 2) At no point in the past 20 years has Rangers made as little money from merchandise as they have since Mr Ashley became involved. 3) Sports Direct claim to be experts in retail and indeed they are. They are experts at making money for Mr Ashley however, not his “business partners”. 4) Mr Ashley talks about a “far reaching distribution network”. Ask Rangers fans abroad how that network is working for them as they ask friends and family to post strips to them. 5) Mr Ashley may have a profitable business but it is one that specialises in low price goods. Sports Direct does not have a clue how to grow, market and improve a premium sports brand like Rangers and frankly shows no interest in doing so. In fact, Sports Direct have hugely damaged the Rangers brand through Mr Ashley and his associates antagonistic attitude to fans. 6) If Rangers were to repay Mr Ashley’s loan, recover all securities and revert to the previous Rangers Retail split they would still be the victims of the contracts put in place by Mr Ashley’s lieutenants and would continue to make a pittance whilst Mr Ashley enjoys virtually free stadium advertising and Sports Direct make money at every stage of the retail process. Mr Ashley talks of being a “supportive business partner” yet has called a spurious General Meeting to vote on a resolution that he knows has no binding effect and which will be defeated. He is costing the club more money having already secured assistance from previous board members to hand him ridiculous merchandise deals, virtually free stadium naming, virtually free advertising space at Ibrox and the granting of security over club assets when much more favourable loan arrangements were on offer. Repaying the loan and “equalising profit arrangements” as Mr Ashley disingenuously puts it, does not solve the underlying problem that the contracts he has entered into are solely for the benefit of Sports Direct. It is our position that, unless Mr Ashley renegotiates the current contracts he holds with Rangers Football Club, on terms which are vastly more profitable to the club, then Rangers fans should not purchase any official merchandise. We would also suggest that they should boycott all brands and companies that Mr Ashley is involved with. Mr Ashley’s business practices have been the source of much public debate recently and we fully expect that to continue. Rangers Football Club has suffered as much as any company at the hands of Mr Ashley and his greed at all costs mentality. We will continue to liaise with any interested party to expose exactly how Mr Ashley conducts himself and look forward to making further progress in that regard in the very near future. Share with your network - See more at: http://www.therst.co.uk/news/rst-response-to-mike-ashley/#sthash.gYcEeE0n.dpuf Edited June 10, 2015 by BEARGER 0 Quote Link to post Share on other sites More sharing options...
plgsarmy 111 Posted June 10, 2015 Share Posted June 10, 2015 wish the rst would ask some more important questions that actually matter. Ashley can flap his gums all he wants , king will decide if we can pay it and by the looks of it there is nadda ashley can do about it. What questions would you like asked? 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted June 10, 2015 Share Posted June 10, 2015 wish the rst would ask some more important questions that actually matter. Ashley can flap his gums all he wants , king will decide if we can pay it and by the looks of it there is nadda ashley can do about it. Are you a RST member? If yes why not go onto RST site members area and ask away. 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted June 10, 2015 Share Posted June 10, 2015 What questions would you like asked?what is happening with relisting? were are we getting the cash required to do so? how is the club securing cash from investors for the open ended budgets king mentioned when we can raise only £8m through share issue? what vehicle will be used? Is this approach realistic in the time frame now remaining? what were the terms of the two £1.5m loans? How do we plan on enticing any decent manager without iron clad assurances of budgets available? Mr king stated all the st money will be used to fund the football side of the club does that include transfers and wage budgets for 1st team? If so how much money is expected to be cleared into our accounts before the transfer window closes? Does this approach not create delays and slow our ability to move quickly when targets become available? does this not create a budget that cannot be exceeded ie the most st can provide is limited by the amount we sell and the time frame for payment? Why are two men who have zero experience in doing so creating the shortlist of managers? why did you choose to start season ticket sales before you have appointed a manager or secured any signings when it has been explained the fans are demanding actions first before trusting? Do we really see this as the best way to maximize sales? Why did the board not put down a marker to encourage season ticket sales? Why was this decided as not necessary? Do the board realise the ground swell needed to bring sales near the 45000 mark has not been achieved through the lack of action on part of the investors? Can you clear up the confusion shown by PM when asked about the loans that had been provided. At first it was from the 3 bears then king how could this be confused? Before king and co took control they stated they had further investors in the wings. Can you tell us when they will be investing and who they are? Can the board explain what they believe the fans are looking for in terms of footballing philosophy and structure? The board has often stated transparency is of upmost importance so can they explain why the terms of investment received so far has not been released? 0 Quote Link to post Share on other sites More sharing options...
trublusince1982 243 Posted June 10, 2015 Share Posted June 10, 2015 Are you a RST member? If yes why not go onto RST site members area and ask away. to be completely honest i dont believe for a second they would ask any questions of the current board. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted June 10, 2015 Share Posted June 10, 2015 What questions would you like asked? Just stealing your question as a lead into this. Any of the legal folk on here know what this is about? Chancery Division - Judges daily cause list Cause list Thursday, 11 June 2015 Updated: 10 June 2015 17.31 (refresh your browser for the latest version) The following list is subject to change until 4.30pm. Any alterations after this time will be telephoned or emailed direct to the parties or their legal representatives. IN THE HIGH COURT OF JUSTICE CHANCERY DIVISION ....snip.... APPLICATIONS Sports Direct International Plc v Rangers International Football Club ....snip.... https://www.justice.gov.uk/courts/court-lists/list-chancery-judges 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 10, 2015 Share Posted June 10, 2015 Sometimes I just love the rst 0 Quote Link to post Share on other sites More sharing options...
barca72 440 Posted June 10, 2015 Share Posted June 10, 2015 Sometimes I just love the rst You're easily pleased. 0 Quote Link to post Share on other sites More sharing options...
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