Big Spliff 0 Posted January 31, 2009 Share Posted January 31, 2009 (edited) Guys, anybody got any info in the commercials relating to Azure deal with Rangers? Length of contract? Or good estimates would be helpful too! Edited January 31, 2009 by Bluedell 0 Quote Link to post Share on other sites More sharing options...
Big Spliff 0 Posted January 31, 2009 Author Share Posted January 31, 2009 don't seem to know my r's from my z's .... doh! 0 Quote Link to post Share on other sites More sharing options...
DJBlue72 0 Posted January 31, 2009 Share Posted January 31, 2009 don't seem to know my r's from my z's .... doh! Think it is Murray owned and all profits go into his deep pockets , cant see Azure being changed while SDM is in charge. You fishing for the contract ? I used to be a chef and make a mean sandwich 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,366 Posted January 31, 2009 Share Posted January 31, 2009 None of that is publicly available info. However what I do know is that Azure was sold by Murray (for �£1 IIRC) as it was a loss maker. It was bought by Elior, a French catering giant. According to the accounts, Rangers paid Azure, so you have to assume that Azure were providing the service for catering and Rangers got the income from the sales, or otherwise I don't see how it would have worked. if Azure got all the catering income then they would have been paying us. It's sound commercial sense to sub-contract the catering so that Rangers don't have the expense of having to pay the staff for one day every 2 weeks. 0 Quote Link to post Share on other sites More sharing options...
DJBlue72 0 Posted January 31, 2009 Share Posted January 31, 2009 None of that is publicly available info. However what I do know is that Azure was sold by Murray (for �£1 IIRC) as it was a loss maker. It was bought by Elior, a French catering giant. According to the accounts, Rangers paid Azure, so you have to assume that Azure were providing the service for catering and Rangers got the income from the sales, or otherwise I don't see how it would have worked. if Azure got all the catering income then they would have been paying us. It's sound commercial sense to sub-contract the catering so that Rangers don't have the expense of having to pay the staff for one day every 2 weeks. Well that blows my post out the water 0 Quote Link to post Share on other sites More sharing options...
franker 1 Posted February 1, 2009 Share Posted February 1, 2009 Guys, anybody got any info in the commercials relating to Azure deal with Rangers? Length of contract? Or good estimates would be helpful too! An article at the time in the now defunct Business AM newspaper stated that Murrays relation who formed Azure, was awarded a 5 year contract valued at 3 million a year. Azures finance was provided by Charlotte Ventures(now Murray Capital) As stated by Bluedell it was sold to Elior in two tranches, 51% initially with the balance a few years later. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,366 Posted February 1, 2009 Share Posted February 1, 2009 An article at the time in the now defunct Business AM newspaper stated that Murrays relation who formed Azure, was awarded a 5 year contract valued at 3 million a year. Azures finance was provided by Charlotte Ventures(now Murray Capital) As stated by Bluedell it was sold to Elior in two tranches, 51% initially with the balance a few years later. Am I right in saying though that only the 51% sold in 2004 was owned by the Murray group? I think the rest was owned by someone else. I don't believe it was ever worth as much as �£3m. Given the drop in related party transactions in the accounts, it appears to have only been worth around �£2m. 0 Quote Link to post Share on other sites More sharing options...
franker 1 Posted February 1, 2009 Share Posted February 1, 2009 Am I right in saying though that only the 51% sold in 2004 was owned by the Murray group? I think the rest was owned by someone else. I don't believe it was ever worth as much as �£3m. Given the drop in related party transactions in the accounts, it appears to have only been worth around �£2m. From memory two directors of Azure put money in along with Murrays investment vehicle. As for the 3 million annual figure, the Business Am journo would only repeat i presume what Murrays relative would tell him. Surely you are not suggesting someone with the Murray dna would exagerate?.......... 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,366 Posted February 1, 2009 Share Posted February 1, 2009 From memory two directors of Azure put money in along with Murrays investment vehicle. As for the 3 million annual figure, the Business Am journo would only repeat i presume what Murrays relative would tell him. Surely you are not suggesting someone with the Murray dna would exagerate?.......... You'd be disappointed if they didn't. 0 Quote Link to post Share on other sites More sharing options...
26th of foot 5,873 Posted February 1, 2009 Share Posted February 1, 2009 Am I right in saying though that only the 51% sold in 2004 was owned by the Murray group? I think the rest was owned by someone else. I don't believe it was ever worth as much as �£3m. Given the drop in related party transactions in the accounts, it appears to have only been worth around �£2m. From memory. Several years past, Caroline Black noted the capacity of the Rangers kitchens, ie could sit down in excess of 2,000 to meals. Thus, both kitchens and staff lying fallow, could be better utilised if food was being produced daily and sent off around the country to various sporting arenas. Azure was set up, 90% of the equity belonged to David E Murray. After 3 years(2005), Azure was in 57 arenas, including Rugby League, Cricket, and race courses; it's turnover was �£14.5 million, profit of �£3million. Caroline Black picked up Business person of the year award(Scotland). The extrapolation for the next three years was for Azure to be in over a 100 arenas, turnover to be in excess of �£30million, profit to double to �£6million. Interestingly, when our Dear Leader sold 51% of his equity to Elior, it was the same week he moved a number of his businees interests into a French Holding Company, based in Nice. Of course, our Dear Leader has a villa and several vineyards a dozen miles from Nice. 0 Quote Link to post Share on other sites More sharing options...
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