BEARGER
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Everything posted by BEARGER
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Sons of Struth Just now UNION OF FANS STATEMENT "In response to the disingenuous statement from the board, and to clear up the confusion they appear to be deliberately trying to cause Rangers supporters, we would like to reiterate our truthful account of the discussions held with Mr Wallace, Mr Crighton and Mr Sandy Easdale. We were invited to Ibrox by Mr Wallace, days after the launch of Ibrox 1972, to discuss the ongoing issues surrounding the security of Rangers’ assets. During the course of that discussion on Wednesday 14th May, Mr Wallace suggested that, whilst security would not be granted, the board would be open to offering a legally binding undertaking that Ibrox would not be sold, subject to sale and leaseback or any type of loan security. For the avoidance of doubt, that was Mr Wallace’s proposal, not ours, and he indicated that the plc board would meet on Thursday 15th May to discuss it. Given that two of the four plc board members who were required to rubber stamp this proposal were present, and apparently in favour of it, this was very much presented as a formality. We made it very clear that any such undertaking would need to be evaluated by our lawyers and this was accepted by all those in attendance. Given what Mr Wallace proposed regarding Ibrox, we asked that the same arrangement be put in place for Murray Park in order to safeguard it from the same fate. This was met by more substantial opposition from the board representatives, in particular Mr Easdale, who we would like to emphasise is not a plc board member, and Mr Crighton. They said they wished to retain “flexibility” over Murray Park. However, by the end of the meeting they had also agreed to consider granting the same undertaking as the one they suggested for Ibrox. This, we were told, was also to be discussed at the plc board meeting on Thursday 15th May. Our statement on the night of Wednesday 14th May reflected all of that and was 100% accurate. Any attempt to suggest otherwise is a deliberate misrepresentation of the facts. Since that meeting we have heard nothing from the board. It is clear that they have now rejected Mr Wallace’s proposal to give a binding undertaking over Ibrox. It is clear that they have considered our proposal that the same undertaking be given for Murray Park and have also rejected that. The idea that this latest board proclamation should give supporters any type of additional confidence over the club’s assets is therefore utterly ridiculous. In fact it should confirm just how much danger our vital assets are in. It is clearly impossible to deal with this board in good faith. They told us we would receive a swift response following their deliberations. We have received no response. They told us that over the past two weeks, all major investors, bar one, have indicated they will participate fully and proportionately in any future rights issue. We do not believe this to be the case. They told us that all those major investors are supportive of their business plan and were impressed with the ‘120 day’ review. We do not believe this to be true. They told us that they have access to an instant £5m of equity funding from existing major investors. This, according to Mr Wallace, is available at “the push of a button”. We believe that, if this is true, it will be used to benefit Mr Easdale’s associates. It is clear that Mr Wallace, despite being Chief Executive, has less influence in the plc boardroom than Sandy Easdale, who is not even a member of the plc board. It is clear that Murray Park is in grave danger and has been since December 2013. The statement from the board that they “will not be seeking” a sale and leaseback of Ibrox is not binding and it is still not unequivocal. We believe, as long as the shareholders fronted by Mr Easdale are calling the shots in the boardroom, Ibrox will remain in grave danger too. Until this situation is resolved we would continue to urge supporters to think very carefully before they hand this board their hard earned money up front. It is clear from meagre renewal levels that a large majority of fans do not trust this board. Our experience is that this position is the correct one to adopt. Support the team, not the regime.”
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McColl made it plain that he was advising etc. and would not be investing or joining Rangers board. Yet we still have fans trying to rewrite history.
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Aye but what size? Is it xsy ?
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What size would fit a four year old boy?
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:rfcbouncy:
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See post 4.
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You really are hurting. Do you campaign against the guys selling badges, scarfs, flags etc. outside Ibrox? Never seen you post about them stopping people buying official club merchandise.
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Probably the same group who supported Whyte to the end.
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Hey I was here first!
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http://www.redandblackshirt.com/
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You are our comical Ali.
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There is certainly one from Philadelphia on here. Plus a couple of barrack room lawyers.
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You must be really annoyed at the thought of the fans actually achieving something no matter how small. Are you McMurdo?
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Usual suspects seem to be most annoyed that there is a possibility of a deal being done between UOF and club.
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Can you provide some links to these SNP donations? Or did you just make it up?
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The Union - an umbrella group comprising six supporters' organisations - had been urging Gers followers to withhold season ticket cash. A company, Ibrox 1972 Ltd, has been set up with South Africa-based businessman Dave King and legendary captain Richard Gough as directors. The Union wanted the club to grant them security over both Ibrox Stadium and Murray Park training ground in return for the money. Wallace admitted last Friday that season ticket renewals had been slow and fears have also been expressed by some about the future of the club. But representatives from the organisation met with Wallace, non-executive director Norman Crighton and major shareholder Sandy Easdale. And Wallace, who has stated in the past that security will not be granted, told them the club could be prepared to give them a legally binding guarantee over Ibrox. However, the Union asked for an identical agreement over the club training ground at Murray Park and the club officials agreed to look into that possibility. But the talks were a huge step towards the bitter stand-off between fans and the club being brought to an end. A Union of Fans statement released on Wednesday night read: "Following a number of attempts for several weeks to arrange a meeting with chief executive Graham Wallace to discuss our proposals for security over Ibrox and Murray Park, the Union of Fans were invited by Mr Wallace to discuss this and other issues at a meeting at Ibrox. "Representatives of the Union of Fans met with Mr Wallace, non-executive director Norman Crighton and Sandy Easdale. "A proposal was made by Mr Wallace that, whilst the board would not grant a security, they could consider giving a legally binding undertaking which would protect Ibrox from sale, sale and leaseback or as any form of security for a loan or other finance. "We made it clear to Mr Wallace that we felt it was also appropriate that they provide the same undertaking for Murray Park. "Mr Wallace and Mr Crighton agreed to discuss this with the rest of the PLC board as a matter or urgency and further discussions between the PLC board and the Union of Fans will continue once this board meeting has taken place. "We believe we accurately conveyed the fears of supporters that either or both of these club assets could be lost to the club in a scenario where they were used for any sale and leaseback or other loan security. "Any proposal by the board will be evaluated by our lawyers and a decision will then be taken on how to move forward. We will keep fans full informed as discussions continue." Rangers did not comment on the meeting. GET RANGERS NEWS ALERTS BY EMAIL
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No not one. -
Signing for Dundee Utd.
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Borrowed from FF.
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What are you meaning? The Ibrox 1972 ST scheme does not take deposits from anyone. You pledge to buy a ST if the club give security of Ibrox etc. to Ibrox 1972, if that happens Ibrox1972 hand over details of all those pledged to them. Ibrox 1972 does not collect any money under any circumstance. If no deal is done by season start you make up your own mind about renewing.
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Club now willing to except 4 cash payments for ST. Desperation ? Should have said May, June, July & August.
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Jeez oh! So it's ok to have a 100% bonus with no written objectives for achieving it?
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I have signed up with the ST trust scheme as I believe its another way of applying pressure on the board and hopefully safeguards Ibrox etc. at least in the short term. My own personal option would have been a campaign to drive all the shysters from our club, but only the DK/UOF plan is available at this time. I do not know anybody who has renewed. I agree that most are waiting to see what happens over the next few months, that in itself is a problem for the club and us. These ST holders could be lost for a long time, that's why I would encourage all to sign up to the ST trust scheme. If a deal is done you get a ST if not no money is taken from your account and you make up your own mind about renewing. Under 4000 renewals is shocking at this time from the directors viewpoint but it does show the strength of feeling from the majority of fans.
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Smart arse, can find the newspaper reports but not the actual agreement. Old age does not come alone.
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Well done Sherlock. :)If I knew you had been looking for the documents I would not have wasted the last 20 minutes doing the same:cheers: