Club1872 - Q and A

[chilledbear 16]

Just read them, perhaps someone could put them up.

 

A tad dismissive I would say.

[BEARGER 1,829]

Dear member,

 

Club 1872 recently published a list of questions submitted by members ahead of the recent RIFC AGM and also met with Stewart Robertson to discuss developments on the managerial situation and how to formalise communication between Club 1872 and Rangers for the benefit of both parties.

 

Rangers communicated to Club 1872 that they believe it would be inappropriate to say anything further on the Derek McInnes situation. They also had nothing further to communicate to our members at this stage regarding the ongoing managerial search beyond the already stated fact that Graeme Murty will take the team until at least the end of December, but the Club undertook to communicate with Club 1872 as soon as there is something to report.

 

On the wider issue of how to formalise and develop communication between Club 1872 and Rangers, there was a constructive dialogue with Stewart Robertson during the meeting last week. It was acknowledged by both parties that the current Q&A style of communication was not serving either Club 1872 or Rangers particularly well as a means of Club 1872 feeding into the decision making process at the club. It is not felt by either party that this enables an effective means for supporters wishes to be taken into account by the club and it is agreed that a change is required. The Club 1872 board will be opening a consultation with members in the near future on how they would like to see this issue taken forward and the Club 1872 board will then put a proposal to Rangers.

 

Club 1872 will also soon be communicating details of what we believe will be required in terms of fund raising for the share issue that was authorised by the passing of AGM Resolution 11. This will be a major campaign for Club 1872 and we will be asking our members and the wider Rangers support to assist us in making a significant contribution to the club. This contribution will signal a major step change for Club 1872 from shareholding fans group to a major investor in Rangers. Early in the new year the Club 1872 board plans to clearly communicate a vision on how this will effect the organisation and what we ask of our members moving forward.

 

The answers provided to the AGM questions submitted by members can be accessed here.

 

Club 1872

[BEARGER 1,829]

The club felt that the questions on the search for the manager had been addressed by the answer given to Club 1872’s first question at the AGM. The questions asked on the day of the AGM by Club 1872, and the answers given, were sent to members recently and can be found here. All other questions have been answered below.

COMMERCIAL

1) When it was announced that the retail agreement had been ‘ripped up’ why was no mention made of the £3 million severance payment to Sports Direct? Will the board acknowledge that, in the interests of transparency, this should have been covered?

The suggestion is unwarranted. The Chairman explained the need for confidentiality at the AGM and that, as subsequently permitted, transparency was provided at the earliest possible opportunity through our annual accounts and at the shareholders’ AGM.

2) What are the board’s plans to grow the retail aspect of the business in future? The sports direct deal runs until the end of the season, but is it wise to enter negotiations with Sports Direct or is there a better alternative on the horizon, that would be more beneficial to Rangers?

The intention is to maximise the revenue which the Club generates from retail. Commercial confidentiality dictates that no more can be said at this time in a public forum.

3) Recent accounts showed sponsorship income of £1.5m vs Aberdeen’s £1.8m, what are the board doing to address this, particularly given the favourable market size available to Rangers in comparison to Aberdeen?

The sponsorship income increased from £663k in the previous year (an increase of 130%). The Club was tied in to certain legacy deals which restricted its ability to grow the sponsorship income short term however as these come to an end, it is anticipated that this figure will grow and the current year is expected to show a further increase.

4) Recently a new member of the ‘Executive Club’ was announced on social media with a photo that was taken on a mobile phone, in what appears to be a field, with Josh Windass in a pair of flip flops.

How does the club expect to attract a higher calibre of commercial partnership when this is the public facing image being presented? What is being done to enhance and better communicate the Rangers brand to potential commercial partners?

The post of Director of Marketing and Corporate Communications was advertised and has now been filled. A formal announcement confirming this appointment will be made shortly. A key aspect of this role will be the promotion of the Rangers brand.

FINANCIAL

5) In the event the Takeover Panel is successful in obtaining an order against our Chairman, can the board advise how this might affect any investment planned for the club; specifically in terms of the proposed share issue?

A decision is still awaited in the case which was heard at the Court of Session. Rangers is not party to the proceedings and the proposed share issue will not be impacted regardless of the decision.

6) With the accounts identifying funding of £7.2m being required by the end of season 2018/19, when do the board forecast that the club will become self-sustaining and what is the plan to convert loans to equity? Will this be staggered or will it be done in totality at the next share issue?

[Gonzo79 13,616]

So nothing new. Oh well.

 

The board seem like they have their heads stuck in the sand...I hope they prove me wrong on that.

[BEARGER 1,829]

As mentioned by the Chairman in his speech at the AGM, regular European football will be the key to the Club’s finances becoming fully self-sustaining. The increased revenues from retail will go some way to narrowing the gap as will more effective player trading.

7) The most recent financial results are encouraging but highlight the staggering gulf between us and our nearest competition. Can this board please outline how they plan to deal with this substantial deficit going forward?

The majority of the deficit is accounted for through qualification for the Champions League group stages. Other income streams such as retail revenue and commercial income are increasing however there needs to be a recognition of just how valuable qualification for the group stages of the Champions League has now become. It is worth in the region of 30m Euros plus associated gate monies.

PR

8) What has the club done to attempt to resolve the ongoing issues with BBC Scotland where they refuse to cover our games despite their duty to us as licence payers? Does the club feel it has done enough to inform supporters and the rest of Scottish society that it is BBC Scotland who are refusing to cover Rangers and not Rangers who have banned BBC Scotland?

The Club has been and continues to be in dialogue with senior members of BBC's management to explore ways in which the dispute can be resolved to the satisfaction of the Club and the supporters.

9) Given the volume of lies being published and broadcast daily about our Club, when are the Directors going to adopt a more robust stance with our detractors in the media, as the current policy, just like its predecessors seems to be failing miserably? Is the current PR strategy directed by Level 5 or the board and executive team?

Level5 assist greatly on this front and much of their work goes unseen. Rangers could challenge media outlets every day but that would serve no positive purpose. When reporting is malicious or vindictive those responsible - and their employers - are challenged but this is done through appropriate channels.

GENERAL

10) Are the club going to seriously consider giving fans a safe standing area as a way of providing more choice to those who prefer to stand at football and with the added bonus of improving the atmosphere? If so what are the timescales for its implementation?

A costed feasibility study has been received regarding the introduction of safe standing to Ibrox. The next stage will involve an appraisal of the financial impact and ascertaining the level of demand for a safe standing section amongst season ticket holders.

11) At last year's AGM Dave King mentioned that the club was looking to bring in new directors, are they any closer to achieving this?

Alastair Johnston joined the Board earlier this year and Barry Scott was appointed to the RIFC plc Board following the AGM

12) Is it possible to reduce the ticket allocation of the visiting Celtic fans and relocate them in to the corner section, where the away fans of other clubs are currently housed?

The fact that they are given a full stand at the expense of our supporters in the family stand is unacceptable considering how their fans behave and Celtic’s actions against our club over the past several years. With the recent incident where a flare was fired at our goalkeeper, this issue has become even more pressing.

[BEARGER 1,829]

As mentioned at the AGM there will be no reduction in the short term. Dialogue on the issue will continue with Club 1872 and other supporter’s groups.

13) What are the club’s plans to improve the facilities at Ibrox and the area surrounding the stadium? With particular reference to disabled facilities, toilet facilities and an improvement in the entire match day experience. Little progress seems to have been made in this area since the question was asked at the last AGM.

There are numerous projects ongoing to improve facilities at Ibrox which will be announced over the coming months. These will deal with all of the aspects mentioned above. A programme of toilet improvements commenced with the renewal of the toilets at the east section of the upper tier of the Sandy Jardine stand in November and over time this will be rolled out across the full stadium

14) Can the board update shareholders as to the position of the litigation against former Directors regarding the entering of the retail partnership with Sports Direct?

We will have more to say on the conduct of previous directors of RIFC in due course. This does not relate to Sports Direct or our relationship with them.

15) With recent coverage surrounding the SFA and the Hampden lease expiring in 2020, there’s a suspicion that the SFA will take internationals, finals etc to Parkhead. Can we expect the board to vigorously push Ibrox for these fixtures and thus create another important revenue stream?

The Executive is in close dialogue with the SFA with regards to the situation at Hampden.

CLUB 1872

16) Given that Club 1872 is now the second largest shareholder, are the Rangers board open to the idea of having a Club 1872 representative on the Rangers board?

No such candidate has been proposed to RIFC to date so no consideration has been given to this.

17) If Resolution 11 is passed has the board considered when they will hold a share issue and will Club 1872 be able to participate in such an issue to allow it to maintain or increase its percentage shareholding in RIFC?

As a result of Resolution 11 being passed at the AGM, the Board are currently considering the timing of a share issue. Club 1872 will have the opportunity to participate in the issue.

[BEARGER 1,829]

The answers from the club seems a bit arrogant and contemptuous to me.

[Bluedell 5,329]

The only thing I learned from that is that there are to be toilet improvements.

 

Hardly a worthwhile exercise if the club is to give generic answers with no real information.

Edited December 19, 2017 by Bluedell

[Bill 13,717]

It would have been more succinct and equally informative if the club had just said "fuck off".

You're kidding yourselves if you think buying shares will change anything.

Edited December 19, 2017 by Bill

[Walterbear 557]

With respect to question 8 about the BBC there is an absolute impasse. There are no ‘ongoing discussions’. The BBC asked how it could be resolved and were told by Rangers it couldn’t if McLaughlin was the BBC reporter. The club quite rightly perceive bias and the BBC understandably reject censorship of journalists and the inevitable industrial action that would follow.

 

Just say as it is Rangers. Scotland is a small place. Being ITK isn’t difficult.