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It has been described as a game of poker but the battle for Rangers has become something of a hand of three-card brag. The most crucial aspect of this game of claim and counter-claim is when the King is played. There are three parties to the Rangers story and each has reached a time of decision. The Union of Fans, the representatives of six fan groups, met last night to discuss the latest developments in a narrative that stretched over two years. The most crucial aspect of their discussions will be the future of the Ibrox 1972 initiative which sought to place season-ticket money in trust under the directorship of Richard Gough, the former Rangers captain, and Dave King, the South African-based businessman who is seeking to alter the power base at the club. The statement by the board on Saturday night that legal guarantees over Ibrox and Murray park would not be offered to fans has left little room for manoeuvre. First, the supporters believe that this was not their understanding of what occurred at the meeting; second, they said it was impossible to deal with the board in good faith and, third, it makes the ploy of Ibrox 1972 almost redundant. The move over season tickets was designed to bring pressure on the board and it did. But the incumbents have so far ridden this out. Indeed, Rangers sources were last night "bullish" about the future, predicting burgeoning season-ticket sales, declaring that precise figures would be given to the markets in due course as they represent market sensitive information. There was one glitch. Under agreed terms, once Rangers have reached £1.5m in season-ticket sales George Letham and Sandy Easdale must be repaid their loans. It is understood, however, that Letham is still awaiting repayment. There was, though, the unmistakeable message yesterday of Rangers "getting down to business", with sources citing appointments to be made, playing plans to be drawn up, the challenges of next season to be met. The delicate point of where all the money will come from has been, ahem, disputed. Rangers hope that the season-ticket tally will approach 20,000, hospitality packages can be sold and that a much-needed income stream will run quickly and profitably. There is also the matter of the £5m of equity funding from existing investors that could be accessed at the press of a button, according to sources close to the talks between supporters and board members this week. A share issue, too, could be brought forward to the end of summer. Even those inimical to the existing board suggest the club "could stagger on" into next season. However, savings must be made and investment found. This may make it an uncomfortable summer for Graham Wallace, the chief executive. He has been assailed by fans over the 120-day review and statements made at the annual general meeting. He also suffers the fate of all chief executives of being an instrument of the board and there was a wounding assertion from the Union of Fans that Wallace is "less powerful" than Sandy Easdale, who is not a member of the plc board but sits on the football equivalent. Wallace has set out his plans and has embarked on a recruitment campaign, in particular for a marketing manager, but has to do this while fighting fires. He will need support but, being Rangers, he should not expect it. The most intriguing player in the card game is, of course, King. If he sits on his hands, Rangers may limp towards some sort of stability - with a much-reduced cost base and a viable challenge to Celtic postponed - or they may slowly but inexorably slip towards financial perdition. His intervention, though, would be a game-changer. However, there is increasing concern among his supporters that King has hesitated too long. One City source, who has control over a tranche of Rangers shares, last night said: "Time is running out for a decisive intervention. King has had talks in the City about proxy votes and these have been amicable, and might even be productive. But there is a sense that something must be done quickly." King must convince the City that the turmoil at Ibrox is such that it is better to give him proxy than to rely on the board to raise the share price to anything like the launch level. The share price has risen of late to just more than 28p from a low of 22p in May. King, however, has stated bluntly he does not want to buy shares from the incumbent board. There are considerable amounts of shares on the margins with some corporate holders open to selling. "There is a feeling," said the City source, " that some of the original investors would take the hit and write it all off to experience and to tax." The most recent soundings from King make clear that he does not want to pursue the buying of shares as this will dilute the money available for a significant investment to make Rangers competitive with Celtic quickly. Any dramatic and immediate development in the Rangers story would thus have to come from King. There is no doubt that the maverick businessman knows how to hold 'em. His supporters trust that his hesitation may not involve accepting he has to fold 'em. Rangers are still in play but the match has moved into extra time for King. http://www.heraldscotland.com/sport/football/can-rangers-trump-king-or-does-he-still-hold-the-ace-card.24273947 -
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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Alasdair Lamont @BBCAlLamont 33m Rangers chief exec Graham Wallace on £320k pa + 100% bonus. Plus £25k salary increase as Rangers move up leagues. More to follow.
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Here is an Email we have just sent out to 30 odd supporters clubs: Hi, I am a volunteer with Rangers First, a community involvement and fan governance vehicle set up in order to help the supporters gain transparency and a voice in the club. Our first objective is to obtain a 5% shareholding in the club in order to get us on our way to achieving authoritative transparent consultation (ACT) with the board of Rangers Football Club. RF is an apolitical organisation that is only interested in the betterment of The Rangers Family and is not seeking to divide anyone. All fans are welcome who believe in fan involvement at the club. Rangers First is a Community Interest Company that is government regulated to ensure that all proceeds go to benefitting The Rangers Community, all membership donations (from £5 per month) initially will go to buying shares until our goal of 5% has been met and ACT has been achieved. Subsequent donations will be used at the discretion of the membership as RF is a member led one member one vote democracy. If your supporters club or organisation would like to hear a presentation on Rangers First at your venue of choice, we would be happy to accommodate you. I believe that RF is a fantastic vehicle that will help the Rangers Support and the club and I would like the opportunity to let my fellow Rangers Fans hear the facts and decide if it something they would like to get involved with. All information on Rangers First is available at http://www.rangersfirst.org - If you know any supporters club that would like to hold a presentation please let us know. Thanks
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Given the silence eminating from the board room it has become clear that the current custodians of our club have no interest whatsoever in appeasing the fans fears. The bare faced truth is that they tried to pull a fast one with the meeting with Wallace. make it look like theyre doing the right thing by communicating with the fan groups and trying to deceive those who havent renewed their SBs. Some are saying that theres a split in the boardroom. i for one dont think so. It was a last throw of the dice driven by sheer desperation to get some more fans to buy sbs. They are now banking on raising enough money to get them to the start of the new season. they will mortgage everything down to the kitchen sink to raise cash if they have too. They will anticipate 40 000 plus with every home game when the new season starts. and if they get those numbers they will get the money to fill their boots. We need to starve them out . that means empty stadiums until their hand is forced. Its not about just supporting the team, its about saving the club and its future. give this lot money and you are signing the clubs death warrant. I implore every fan to boycott our home games and drive these cretins out.
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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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AT one point during a highly unsatisfactory and short-lived reign as Rangers chairman an increasingly exasperated Walter Smith made an observation to the directors of the club’s PLC board. It went something along the lines of: “I’ve lost more votes inside this f****** boardroom than I ever lost games out there on that pitch.” It was Smith’s way of saying he had reached the end of his tether. An admission the board over which he presided for little more than two months was dysfunctional beyond repair. But there was a deeper issue which troubled Smith to such an extent he felt compelled to do walking away. He had come to realise that, no matter what changes were made to the personnel around that table – even if there was a day when they all sing from the same hymn sheet – ultimately their voices would not be heard. It had become clear the board of the Rangers International Football Club PLC was not calling the shots inside Ibrox. Rather it was those who made up the so-called “football board” who were really in charge. This all-powerful football board is also known as Rangers FC Ltd. It was previously known as Sevco Scotland. Over two years it has been home to many a colourful character, including Charles Green, Imran Ahmad, Brian Stockbridge and more latterly, current chairman Sandy Easdale. Of them all, only Easdale has not sat on both boards. Then again brother James has been keeping that seat warm. Smith’s frustration with this entity became overwhelming. It’s understood even basic requests to see details of commercial contracts signed on the club’s behalf were repeatedly turned down flat. In other words it does what it wants. So perhaps what has gone on over the past few days inside Ibrox – as yet more splits and schisms have emerged – should come as no surprise at all. Last week, as season-ticket renewals continued to splutter along at an alarmingly slow rate, PLC chief executive Graham Wallace reached out to supporters groups with an olive branch. He invited them for peace talks knowing supporters wanted assurances neither Ibrox nor Murray Park would be pawned off to stop the club from plunging into a financial abyss. These discussions – which involved Wallace, Sandy Easdale and Norman Crighton – have backfired quite spectacularly. Blown to pieces by the obligatory bombardment of statement and counter statement. Claim and angry counter claim. A statement was issued by Rangers on Saturday which more or less accused their own fans of telling lies. As PR strategies go this might have left Gerald Ratner shaking his head in disbelief at its sheer crassness and stupidity. It read: “In some of our discussions with fans it was indicated that there was a wish for the board to confirm that our statement of intention not to grant security over Ibrox could become a commitment that would last for 12 months. “This has subsequently been discussed by the board and the board confirms that it will not be seeking to effect a sale and leaseback or grant security over Ibrox during that period of time.” While the inclusion of the words “over that period of time” will have raised more than a few eyebrows it was the complete omission of Murray Park which ought to worry the fans most of all. It now seems even more likely the club’s £14million training ground will be used to raise funds and keep this basket case of a club afloat. The statement said: “Whilst the board is reported to have offered legally binding undertakings during a fan group discussion in relation to Ibrox and Murray Park, this is not the case.” Late last night, bang on statement o’clock, the fan groups hit back by issuing their own withering media release. This one can also be filled in the box marked “Liar, Liar, Liar”. The Union of Fans insist it was Wallace’s proposal to offer up legally binding assurances Ibrox would not be flogged off as part of a sale and leaseback agreement or used as security against a cash loan. And the statement said: “Given what Mr Wallace proposed regarding Ibrox, we asked that the same arrangement be put in place to safeguard Murray Park 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, May 15.” The upshot of it all is those running Rangers now appear to be at war with those who claim to represent their supporters. At a time when the club needs season-ticket money urgently just to make it through the summer. And then there is Wallace, who now finds himself in the firing line of supporters and fellow directors alike. He has angered Easdale by trying to broker some sort of conciliatory agreement with the fans. And he has infuriated the supporters by failing to deliver on the deal. The CEO has already survived a whole series of hairy moments during his own short time at the club. Some of them ought to have been resignation issues. But if Wallace really has now lost the trust of the man at the top of the “football board” then it may only be a matter of time until he follows Smith out of that boardroom for good. http://www.dailyrecord.co.uk/sport/football/football-news/keith-jackson-graham-wallace-borrowed-3568105?utm_source=twitterfeed&utm_medium=twitter
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Singapore billionaire Peter Lim, the new owner of Valencia, has realised a long-held dream by buying a top European football club -- and will hope for better fortunes than some of his fellow Asian investors. Top Executive Suite articles Singaporean billionaire buys Valencia football club BlackBerry fights back with budget phone $2 million Kickstarter campaign launched to find Amelia Earhart’s plane + MORE EXEC ARTICLES Currency Converter Amount to convert From To or Table of all exchange rates Downtime Singaporean billionaire buys Valencia football club $2 million Kickstarter campaign launched to find Amelia Earhart’s plane From flea market to $33m: lost Faberge egg emerges + MORE DOWNTIME NEWS Mark BourisMyths bustedHome loans can seem a bit complicated and overwhelming. But it doesn't have to be. Mark Bouris clears up some common misconceptions. Publicity-shy Lim, a fishmonger's son who made his wealth by investing in a palm oil company, is an avid Manchester United fan who nonetheless was linked to a bid for their arch-rivals Liverpool in 2010. On Saturday, patrons of the Valencia Foundation unanimously approved 60-year-old Lim's proposal to take a 70.4 percent stake in the debt-stricken Spanish club, which twice reached the Champions League final. Valencia's hierarchy has been looking for investors since principal creditor Bankia refused to refinance the combined $530 million debt the club and its foundation has with the bank. Lim has an estimated $2.4 billion fortune and owns a string of Manchester United-themed bars in Asia. The father of two is married to former actress Cherie Lim. With 11-storey home in Singapore's plush Orchard Road district, according to reports, and a fleet of 25 Ferraris, Lim appears to have the means to prop up the six-time La Liga champions. Valencia fans may be forgiven for some trepidation, however, with clubs experiencing mixed fortunes after being snapped up by foreign owners. In the most extreme case, ex-Hong Kong hairdresser-turned-Birmingham City owner Carson Yeung was jailed for six years for money-laundering in March. The club was relegated from the English Premier League in 2011 and only survived dropping to England's third tier on the last day of the season earlier this month. Similarly, Indian poultry firm Venky's bought Blackburn Rovers for 23 million pounds in November 2010. Amid a stream of negative headlines, the club followed Birmingham out of the Premier League in 2012. Malaysian tycoon Vincent Tan provoked anger from fans of Welsh club Cardiff City, nicknamed "the Bluebirds", when he changed their kit colour from blue to red, saying it was a luckier colour. Cardiff, after winning promotion to the Premier League last year under Tan, have now been relegated again in a season marked by a row over the dismissal of their manager Malky Mackay. And Malaysian budget airline impresario Tony Fernandes has also seen his plans for a revamp at Queens Park Rangers stumble, after the London club dropped out of the Premier League last year. On a more positive note, Russian billionaire Roman Abramovich has turned Chelsea into one of Europe's top clubs and Manchester City, owned by Abu Dhabi's Sheikh Mansour, are the Premier League champions and estimated as the highest paid sports team worldwide. Lim's proposal intends to clear Valencia's debts and invest heavily in a playing squad that barely managed to break into the top half of La Liga this season, but reached the Europa League semi-finals. "I am very glad to have been selected the winning bidder after a rigorous selection process. Fans of Valencia Football Club can finally see an end to months of uncertainty," Lim said in a statement late Saturday. Lim was educated at the Raffles Institution, Singapore's top secondary school, and has a degree in accountancy from the University of Western Australia. He took on part-time jobs as a taxi driver, a cook and waiter to finance his way through university. In one of his rare media interviews, Lim said his first job as an accountant lasted only three months and he did some tax consultancy work before cutting his teeth in the world of stock-broking, where he began building his massive fortune. Lim's success as a stockbroker earned him the moniker "Remisier King", from the Singaporean term for the profession. He advises young investors to look at the prospects of a sector before buying stock, adding that investments should be for the long term. "You have to invest with a longer-term mindset. You buy a good stock, leave it there for 10 years. Come 10 years, this dollar can be many, many multiples," he said in a 2007 interview. US magazine Forbes on its website estimates Lim's fortune at $2.4 billion and ranks him number 739 among the world's billionaires. Forbes ranked him the 10th richest person in Singapore in 2013. Lim rarely gives media interviews, but friends have been quoted as saying he remains humble despite his wealth and is heavily involved in charity work. http://finance.ninemsn.com.au/article.aspx?id=8847088
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The official site says......THE renewal deadline has now passed.. http://www.rangers.co.uk/news/club-news/item/6974-season-ticket-waiting-list We should expect a regulatory annoucement if ST numbers are significantly down. Aim rule 11 A company must issue notification without delay of any new developments which are not public knowledge concerning a change in: its financial condition; its sphere of activity; the performance of its business; or its expectation of its performance.
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“If you’re prepared to accept mediocrity because our owners are greedy fair enough. Me, I intend to do everything I can to root them out.” A quote from Gunslinger. So what are we doing as a support to root out the directors? I believe the answer is “Not a lot”. Let’s look at the two lots of people a majority of the fans want rid of – the Shareholders and the Directors. 1. The Shareholders There are 2 main ways that the shareholders can get to go or to lose control: a) Someone buys their shares – there is currently nobody who wants to buy their shares. Dave King has said he won’t do it. There are 2 fans’ vehicles for purchasing shares, both of whom are a long way away from getting enough cash to make a meaningful investment. They also both have the dilemma of raising cash and then deciding whether to use the cash to pay existing shareholders and therefore not a penny goes to the club, as happened recently with BuyRangers, or wait until there’s a share issue at some future point. They also run the risk of their shareholding being diluted. Let’s say they get 1% of the shares and then there’s a rights issue. They could find that their 1% has been reduced to 0.5% or even lower. Perhaps it needs yet another calamity like an administration to change the mindsets of the fans to fan ownership as they have consistently shown that a vast majority are not there yet. b) There’s a share issue of some sort, which dilutes their control in the way mentioned above. However what happens if they are the ones to put in the cash? They could increase their shareholding percentage. Dave King has said that he would be willing to invest, but only under certain circumstances. Are the current shareholders likely to structure an issue that sees them losing control to King? Very unlikely. Is King willing to invest that level of cash and not have a level of control? Very Unlikely. All of King’s actions seem to be aimed towards trying to force the existing shareholders and directors out without him having to spend any cash in doing so. He has built up a degree of animosity between him and the board and as such he has made it less likely that the board will turn round and make it easy for him to get control. The existing shareholders generally want an exit strategy and nobody is offering them one and they aren’t going to effectively have their shareholding become worthless. 2. The Directors Most Rangers fans are not impressed by the current Board, but nobody has offered any alternative since the Paul Murray faction got voted down at the AGM. Nobody has set out any level of vision for the future and King suffers from this criticism more than most. He has not set out detailed plans or any level of alternative. King set up his Ibrox 1972 Ltd company, asking for the club to give it security over its biggest assets. Does anyone seriously expect a quoted PLC to give security of its main assets to a third party company that apparently doesn’t have a season ticket holder or Rangers shareholder on its board or as a shareholder? There is no connection between this company and the club. As it stands, there’s no connection between the ownership and control of Ibrox 1972 Ltd and the support either. It’s almost as if King has come up with a vehicle that makes it impossible for the club to grant security, not that they would do it anyway. Perhaps that’s what King is hoping for? Many fans are not buying season tickets, partly due their opposition to the board and partly due to the fare on the park. For the fans who fall into the former category, is them withholding season ticket cash really going to chase out the directors? I really don’t think so. Why should it? Are the really just going to resign and walk away or are they going to carry on running the company in whatever financial situation it Is in? I would argue that it is the latter and they will continue run the club as best they can, with the lower income and therefore lower quality on the park. Many are there to do a job (presumably to the best of their ability) and less season tickets makes it more challenging but it is not a reason for them to resign from their job. Are the shareholders going to insist on a change of board due to lower season tickets? Unlikely, given that the gave the directors a vote of confidence at the AGM even after the club had spent the £22m from the share issue in 9 months. If they still retain the shareholders’ support after that then season ticket holder revolt isn’t going to make much difference. There is also the situation where Sandy Easdale controls the votes of over 26% of the shares and it means that he only needs 24% of other shares to get his way in most matters. The fans who are not renewing their season tickets have my admiration for the sacrifice that they are making and I understand their frustration as they want to do something and not renewing is something. However it doesn’t mean that what they are doing will result in a change or will make any difference to the positions of the directors. Even if the season ticket boycott did force a change in directors, would it change the overall way that the club is being run? Again, very unlikely. So what is the best hope for a change? We can only hope that Dave King has a change in heart and does decide to buy out the existing shareholders because otherwise I just don’t see a way out of this mess as we fans appear to be powerless against shareholders and directors who have no interest in engaging with the support and taking actions to keep them onside.
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No doubt our pulses are all racing with excitement at the prospect! Nobody v Somebody Else! I repent of my contemptuous words. A great day for Saints and United fans. Rangers had the chance to get there but weren't up to it. Brings back memories, though. Tam's blockbusting 30 incher. Kai's strike from heaven. Ian McColl's swan song master class against Kilmarnock. But best of all, the 1964 epic against Dundee. I enjoyed that one the most partly because Dundee were so damned good. A terrific game of football. Your best 'Gers finals please?
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HE pressure is mounting on the Ibrox board to find new cash streams but it is unlikely to receive support from the club's most influential fans who are being asked to fork out £4200 each. RANGERS have put out a cash call to well-heeled fans – just weeks after fearing they would storm the Blue Room. Renewal forms for the club’s wealthiest 150 season-ticket holders have been sent out in the past 48 hours but the beleaguered board are set to be hit with another snub. Record Sport understands only around 10,000 rank and file fans have renewed their season tickets, in stark contrast to the 31,000 who made the pledge at a similar stage last year. The pressure is mounting on the Ibrox board to find new cash streams but they are unlikely to find much support from their most influential fans who are being asked to fork out £4200 each. Record Sport can reveal details of the bizarre communication between director Norman Crighton and a significant investor after the final home game of the season against Stranraer last month. Crighton accused fans in the members’ lounge of being drunk and rowdy and even feared they would storm the Blue Room at the top of the marble staircase. One insider said: “It’s laughable stuff and the members who know of the communication are smarting. “Most are successful businessmen and some of them don’t drink at all. The suggestion they would storm the Blue Room is preposterous. Come off it, Walter Smith was in the members’ lounge that day. It’s ridiculous.” Many members had already decided to withhold season-ticket money with the future uncertain and Crighton’s comments will not help as the club stands to lose more than £600,000 if the rich Rangers followers turn their backs. One member said: “A significant number of us are already speaking about not renewing and it would break our hearts to do so. “They’re paying out more on wages to non-playing staff than players. How can they get that bill down and still generate enough money to run the club without selling Ibrox? “Until they can answer those questions we won’t be rushing to support their regime.” Rangers, meanwhile, announced yesterday they will keep the ticket office open over the weekend due to what they claim to be high, last minute demand. The deadline for season-ticket renewals was originally yesterday. http://www.dailyrecord.co.uk/sport/football/football-news/battle-rangers-clubs-wealthiest-150-3553825 -
http://www.eveningtimes.co.uk/rangers/u/rangers-supporters-trust-claim-8-in-10-fans-will-not-renew-season-tickets.1400067566 -
Might as well get a gander at Merlin's latest on here as opposed to giving his blog hits..... May 15, 2014 by billmcmurdo Who Blinked? Much has already been said and written about last night’s meeting between Graham Wallace and the UoF. Depending on who you listen to, the board of Rangers has caved in to rebel demands or has once more outsmarted them. The issue of Ibrox being sold and leased back or mortgaged has never been an issue to worry about, as far as I am aware. Back in the early days of the new era, a sale and leaseback of Ibrox option for financing was pitched to Charles Green and Imran Ahmad. The figures were very impressive and would have brought millions into the club. However, it was never an option as both Green and Ahmad refused to sell what they regarded as the heart and soul of the club for easy money. So there is no victory for the Union of Fans in “obtaining” a guarantee that was already known board policy in terms of security over Ibrox. It could be argued that the UoF is now acting in opposition to Dave King’s interests because his season ticket fund is demanding Ibrox be handed over as security. It certainly looks like a hollow victory for the UoF as their backing for King’s proposals left them even further out in the cold than he is, after the board unequivocally ruled out dealing with the harebrained fund idea. The reality is that any guarantees by Wallace are not worth the paper they are not written on. Which means this civil war will continue and get murkier. From discussions with other bluenoses I am aware that Graham Wallace has cheesed off a large section of the Rangers support, particularly those who have renewed already, by even agreeing to engage with these anti-board people. It is increasingly looking like Wallace is keen to appease the rebels but not so eager to engage with loyal supporters. The truth is that last night’s meeting has left the board looking weak and prone to compromise – something that will not fill many with confidence. Whilst I accept that there are some fans who support the anti-board faction with genuine concerns about the condition of Rangers and the club’s finances, there are also those in the reb camp who will never stop till they have displaced the board and have their own Murrayite placemen in. This means they will go agitating and undermining no matter what – and this makes Graham Wallace’s capitulation even harder to stomach. The most stupefying thing about all of this is that the UoF are lucky if they represent 5% of the Rangers fanbase. For the board to cede to any demands made by such a small constituency beggars belief. Yesterday was the centenary of the date when Bill Struth first joined Rangers. I have no doubt Bill Struth would have hunted the UoF down Edmiston Drive and told them never to darken the door again. Oh how we need such a leader in 2014.
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CASH gates will be in operation at tonight's Youth Cup final at St Mirren Park. Gordon Durie's under-20 side will face Hearts with the Youth Cup trophy at stake and you can back the side tonight in Paisley. The youths are aiming for success in the first final appearance for the club in three years. Tickets for the match, which kicks off at 7.30pm, and will go to extra-time and penalties if necessary, will be available at turnstiles this evening. Priced are £5 for adults and £2 for over-65s, under-16s and full-time students. http://rangers.co.uk/news/academy-news/item/6954-cash-gates-at-youth-final
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http://www.odgersberndtson.co.uk/gb/executive-opportunities/opportunity-details/?tx_llproxy_pi1[request]=nNmroWpjaJajop6xj6aWoMulqWDG059npqqrz8zTfZukxZ_QX8fWod2jzaaZmZ9omGpmlw Chief Operating Officer Football Club, UK Odgers are working with one of the world’s most successful football clubs who are currently looking for a Chief Operating Officer. With a world class stadium, training infrastructure and a loyal and passionate global fanbase, the Club has been a dominant force for decades. The Chief Operating Officer will be a key member of the executive team and will serve as the primary financial officer of the Club as well as deputising for the Chief Executive when necessary and will help lead the club into their next exciting period of growth and success. The role • The COO will work alongside the Executive team and Main Board to support the business planning and strategy setting process and will participate in all board meetings with responsibility for the preparation and management of all board meeting papers and reports. Will also act as advisor to the Executive Team, in particular aiding the understanding of financial performance information and how this relates to the achievement of the organisation’s objectives. • Will have overall operational responsibility across the business excluding football operations and including; finance, facilities, HR, legal and office administration, match-day operations and security. • Provide overall leadership and direction in financial structuring, debt raising and covenant reporting, with full responsibility for all stock exchange reporting. Will also oversee the operations of the club including the hospitality, catering, conferencing, health and safety and all other non-match day activities The person • Minimum educational achievement of a Bachelor's degree in accounting or business administration. Advance degree preferred. • Business experience and 10+ years of progressively responsible experience for a major company or division of a large corporation. International experience strongly preferred. • Certified Public Accountant or Certified Management Accountant designations preferred. Some experience of the requirements for stock exchange reporting would be advantageous. For further information, please contact Lindsay Petken (lindsay.petken@odgersberndtson.com; +44 (0)20 7518 2630) -
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Some comparisons with Ann Budge's Hearts and our Rangers from yours truly on TRS: http://www.therangersstandard.co.uk/index.php/articles/current-affairs/323-rangers-own-budgement-day-is-coming
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Lorenzo Amoruso urges Rangers supporters to put their trust in Dave King to oust Ibrox board Sunday 11 May 2014, by Stewart Fisher LORENZO Amoruso last night became the latest former Rangers player to call for supporters to back Dave King and Richard Gough's plan to boycott season tickets and place the money in a trust instead as a means of forcing major boardroom change. The Italian has emerged as a fierce critic of the current hierarchy and feels that placing funds in Ibrox 1972 Ltd, the vehicle introduced by King and already being used by supporters groups' the Union Bears and the Blue Order for pooling their funds, is the only mechanism for bringing about change. "Too many people have been touching the heart of the club who don't deserve to be so close," said Amoruso. "They have ripped out the soul of the club. It's so frustrating for people like me who were running, chasing after every ball, spitting blood sometimes and going through so many operations. " I didn't do all that to see this situation develop. We want to see better people control the club, people who really care about Rangers. "I didn't really encounter Dave King much when I was a player because he was in South Africa a lot, but I met him," said Amoruso, who was in Glasgow this week. "He was a director but not involved in the way David Murray was. But he is a Rangers man and he is putting himself out there and he deserves credit and support. He has been there before for the benefit of the club. "This is a crucial period because season ticket holders have a week left before deciding whether to renew and from those I've spoken to I don't think there is a feeling that supporters want to renew and I think that is the best solution. "It's hard to believe I am asking for the stadium to be empty. But if that is what it is going to take to get this board out then that's the way it has to be. There are easier ways to solve this problem but some people don't want to listen. That's why we must take a hardline approach. I'm sorry, this board just has to go." http://www.heraldscotland.com/sport/football/lorenzo-amoruso-urges-rangers-supporters-to-put-their-trust-in-dave-king-to-oust-ibro.24190175 -
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By Richard Wilson BBC Scotland John Brown is the latest former Rangers player to declare his support for the Ibrox 1972 Season Ticket fund. Brown, a fierce critic of former chief executive Charles Green, urged fans of the League One champions to withhold season ticket money two years ago. He has now joined Richard Gough and Lorenzo Amoruso in backing the fund, which has been set up by supporters' group coalition Union of Fans. "Rangers supporters must not give this board a lump sum of money," said Brown. The deadline for renewals is on Friday, and it is thought that the number of tickets sold is still in the very low thousands. During a question and answer session on Twitter last week, chief executive Graham Wallace admitted that sales were "slow". In their interim accounts, published in March, and in Wallace's business review, details of which were released last month, Rangers acknowledged that if season ticket sales dip below last year's uptake - which was around 34,000 - then the business's ability to trade as a going concern will be under threat. The UoF want fans to pay their renewal money into a fund instigated by former club director Dave King. The group will then seek security over Ibrox Stadium in return for handing over the gathered money in a single payment. This would prevent the property being used as security against future borrowing. Amoruso, the former Rangers captain, backed the campaign last week, while former Rangers manager Alex McLeish offered his support to King's intention to invest directly into Rangers International Football Club plc, by means of a new share issue. "I am not saying to my fellow Bluenoses, 'don't support your team'," said Brown, who left his job as Dundee manager last February. "Far from it. Buy your ticket on a match-to-match basis if this lot are still there next season." Brown, who left his job as a scout at Ibrox when Green's consortium took charge two years ago, pointed out that former player and manager John Greig refuses to currently attend games at Ibrox. He also said that he expects other former players to declare their support for the UoF initiative, although Mark Hateley urged fans to buy season tickets in an interview on the club website.
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http://www.eveningtimes.co.uk/mobile/rangers/peralta-eyes-rangers-escape-162843n.24175472 Feel free to walk away any time Arnold, and wave any pay off if you're that keen to go.
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http://www.rangers.co.uk/news/headlines/item/6956-hateley-early-deals-key
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........No it's time for Dave King to step up and pay. KEITH believes it's time for Ibrox investor King to put his money where his mouth is with the club's Murray Park training ground under threat. IF Dave King is serious about rescuing Rangers then he had better get a move on. In fact, come to think of it, he may have procrastinated too long already because this basket case of a business is staring its next disaster dead in the eye. Very soon someone will have to blink and before you know it this club could find itself minus a training ground if it’s not careful. In five days from now the curtain will come down on season ticket renewals and when it does, bedraggled chief executive Graham Wallace might as well sound the emergency klaxon because unless there is a late stampede between now and Friday, Rangers will be right back on the brink. Raising money against Murray Park might then become almost inevitable, assuming insolvency is to be avoided as Wallace so bullishly insists it will be. It was interesting to note that the current board made no comment at all about the security of their Auchenhowie HQ when categorising Ibrox as ‘sacrosanct’ the other day. The truth is Wallace was busy discussing the merits or otherwise of raising funds against Murray Park with former financial director Brian Stockbridge at the turn of the year. Stockbridge wanted to push the button back then but Wallace at least had enough sense to resist. However, Wallace also made it clear that such a scenario might need to be revisited at a later date and if the season ticket revenue really is about to be obliterated then that date might well be now. Also, given the enormous scale of Rangers financial requirements, there would seem little point in simply raising a couple of million quid in the form a secured loan – like the deal Wallace brokered with those nice hedge fund folk from Laxey Partners just to keep the floodlights on till the end of winter. A full-blown sale and leaseback would certainly bring in significantly more money but at what price to a club which continues to be robbed of its soul from the inside? Which brings us back to the man who would be King and his plotting in South Africa. King has lent his name to the Union of Fans’ plan to starve the club of its biggest single source of revenue but he’s done so from a distance, almost half-heartedly, while this club’s supporters have been busy whipping themselves up into a state of high doh. That King did not attend the launch of this scheme in person, nor even make sure that his recently- recruited wingman Richard Gough was there to deputise, sent out more muddled messages to these fans who want nothing more than a leader in whom they can place their trust along with their cash. But then this is the Rangers civil war we are talking about. If there is a way to mishandle public relations then you can bet your last blue pound someone in this abomination will find it – even though you can barely move for gurus spinning furiously for one camp or the other. King says his attempted coup is not in any way reliant on public opinion, which is probably just as well because he hasn’t done enough to win over the rump of the fans. The vast majority want to believe in him but need to see tangible proof of his intentions. If Friday’s final tally of sold season tickets is as low as many are predicting then this will be an indication of how little these fans trust the characters inside their own boardroom rather than a show of faith in the man who wishes to topple them. It would also leave the board with a couple of options – selling off the family silver or engage immediately with King, who is ready to talk. So far, King has done nothing much more than kick up a stink by issuing sporadic flurries of statements, most of which have told us nothing we did not already know. He has been heavy on promises – talking boldly of blowing £30million worth of his children’s inheritance – but feathery light on substance. So if he is serious about acting – and for the record I’m sure he is – then right about now would seem like an appropriate moment for him to start digging deep. King has made clear his reluctance to line the pockets of the very shareholders he blames for making such a mess of the club. While this is an admirable position, the more time passes, the less realistic it appears. And all the while, Rangers fans are wrestling with their own consciences and fretting over whether or not to hold their club to ransom. King could remove all that confusion and guilt from their shoulders at a stroke by ploughing some of his own millions into the very account that has been set up for their season ticket cash. If those who run the club will not accept his money then why would any individual feel the least bit bad about hanging on to their own £400? Better still though, King should rethink his strategy and find out exactly how much it would cost to make those shadowy investors lurking behind the likes of Margarita Blue Pitch Holdings and Margarita disappear once and for all. Ultimately, this is what will be required if Rangers are ever to be properly ‘cleansed’ and now Friday’s iceberg is approaching, maybe those lucky enough to have stuffed their pockets with penny shares might realise it’s time to abandon ship. Even if they sold now for as little as 20p a share they’d still make mind-boggling returns on their investments. The thought of making them rich might make King’s skin crawl but, even so, this would seem like a price worth paying. He could always ask Fergus McCann who had to perform a similar U-turn when bringing down the Kelly and White dynasty across the city. A deal could even be structured that would allow King to be given some of the money back, much like the £2.5m Ann Budge has just had to pony up to make sure Hearts are a Lithuanian-free zone. King could do any of the above and instantly cement his status as a genuine hero among the club’s rank and file. The longer he waits though the more time is running out for his club.
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Thus far we have found that Graham Wallace can appear to talk a good corporate game. Indeed put that beside his legendery CV and we should be glad to have him on board, no matter what the price and foggy criteria to pocket it. Or should we ? Wallace is cutting his teeth in his first CEO role and it shows. When he is forced into details, instead of general and broad corporate nothingness he invaribly falls flat on his face with blatant contradictions, economies of truth and misleading lines. Sandy Easdale said in December that GW would be the public voice of the board. What has actually happened is either though design or a change in plan, Wallace has been reluctant to face an inquiring independent media. His press conference when presenting the business review was the first time in ages that he had braved the spotlight. He prefers a friendly RTV or more controlled interventions with the media (with expensive spin-doctor sitting beside him). The latest "engagement" being his twitter Q&A which ended up being more a O&G. Previously he had been a Chief Operating Officer (COO) at Manchester City and in the week the club is advertising that position I'd venture that this is a job that would better suit Wallace. I'll touch on one specific issue, scouting. Wallace has talked about the importance of this since December. When outlining what the 'extra long business review' (xLBR) would cover it included..... - "Develop and implement a Football Player Asset Strategy to take in First team squad, Youth Development and Succession Planning." http://rangers.g3dhosting.com/regulatory_news_article/363 It was also said that where possible/necessary, ongoing decisions and action would be taken before the xLBR was published. In January this year GW said the following in an newspaper article............. "At a time when this club needs to be identifying and scouting talent and acquiring talent at attractive levels our scouting and recruitment was largely dismantled. A small example of short-termism." http://www.scotsman.com/sport/football/spfl-lower-divisions/tom-english-interviews-rangers-ceo-graham-wallace-1-3275716 This type of infrastructure usually takes time to bear fruit so is it unreasonable to expect some of the building blocks to be put in place as quickly as possible ? The months passed by and nothing was or has been done. Then came the xLBR and this is what it contained regards scouting or similar. Business Review – Assessment of Current Operations There is no proper talent identification and scouting operation in place for professional players and at the time when investment in playing talent needed to focus on identifying value acquisitions, the Club dismantled its scouting and recruitment network. Future Strategy Invest in Academy Players – An Academy Development Fund will be created with dedicated annual investment, increasing over time, committed to the acquisition and development of high calibre young players at different stages of their careers with the target to increase the number of Club trained talent coming through to play in the first team at an early stage. Develop Player Asset Management – Developing playing talent is one of the major challenges at any football club. The Chief Football Operations Officer will also have the remit to develop the Club’s player asset strategy which will build a long term structure and plan to deliver playing talent for the Club and maximize value from player trading. http://www.rangers.co.uk/images/staticcontent/documents/RangersBusinessReview.pdf To wait 4 months for that level of detail with vague pointers to how it will be funded is extracting the Michael. They seem to be in no hurry despite targetting the Scottish League title within 3 years. Wallace talks the corporate talk but doesn't or isn't allowed to start walking. Mind you he needed to bring in a spin-doctor to help him with the talking. Importance to the Board: Spin > Scouting Anyone thinking 'benefit of the doubt', 'let's see what happens' may want to look at how this board have gone about business and tell me why they should be trusted. What strikes me is that the consistent MO of the various incarnations of the boardroom in recent years is to mislead,.... lie,.... play for time,.... talk of 'X' ambition,... vanish with a sackful of our money before accountability can kick-in and a new lot come in......... and start a variation of the process again. Wallace is an empty vessel but it's those in and around the boardroom who have him as their 'Pied Piper' leading us down the road towards footballing obscurity.
