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http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=1961&newsCategoryID=3&newsID=14129
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SIR David Murray has broken his silence on the battle for control of Rangers by praising the efforts of Dave King and The Three Bears consortium to gain influence at Ibrox. But the club's former owner warned the club's cash position remains in a critical condition while uncertainty continues to hang over the ownership of the stricken Glasgow giants. While fans have welcomed moves by the Three Bears consortium - comprising wealthy businessmen Douglas Park, George Letham and George Taylor - and former oldco director King to amass 38.1 per cent of shares between them in recent days, Sir David fears little has changed. He claimed the stalemate between the board and those looking to take over is impeding the investment the club badly needs. Sir David, who famously sold Rangers to Craig Whyte for £1 in 2011, said: "The way I see it at the minute, and this isn't trying to be smart, is people have changed seats at the table. "But the fact of the matter is the club needs money and resources as quickly as possible. "Dave King and the Three Bears I'm sure have the right intentions for the club, but they must be in a dilemma about how they take it to the next stage when the other sides don't seem to be willing partners." He added: "I take my hat off to the people who are trying to do the right thing, and let's hope they're successful, but whatever way they are going to do it it's going to need more money." Sir David, speaking after a £20m takeover bid from US basketball boss Robert Sarver was rejected by the club, criticised the current board and its suitors for failing to come up with a strategy to take Rangers forward. He said: "I don't know what anyone is trying to do at the minute. I don't mean to be smart. What we'd like to see is Rangers in the hands of Rangers-minded people. But I wish someone would come out and tell us what their strategy is. "Is Dave King working solo? Are the Three Bears working solo? If they are, they are going to have to come up with some more money." Fans groups have voiced concern over Newcastle owner Mike Ashley's influence over the Ibrox Club. The Sports Direct boss has a 8.92 per cent stake in the business, control over the club's retail operations and has advanced loans to the company. Asked if he shared those concerns, Sir David said: "We don't know, do we? The problem you've got just now is that nobody is making statements. There is no strategy." Sir David also welcomed moves by supporters to buy shares in the club through organisations such as Rangers First but said the club's cash needs were more pressing. He also fears the club is losing supporters who may never come back. Sir David said: "What concerns me also is that a fair percentage of the hardcore [of fans] may have drifted now, and I don't think it will be like you turn a light switch and they will come back. "This will take time." http://www.heraldscotland.com/news/home-news/gers-need-cash-fast-sir-david-says.116118429
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Presumably his passport has been taken away.
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At a RFC plc Board meeting the matter of a repayment of funds to Ticketus came up in relation to the transfer of Jelavic. Donald Muir took a great interest in the deal and spent a lot of time to ensure he fully understood it. Subsequently Whyte's interest stepped up.
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http://www.dailyrecord.co.uk/sport/football/football-news/ibrox-hate-figure-brian-stockbridge-4625845 Rears his head.. Sorry, on mobile... Hence lack of copy and paste
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From today's Scottish Sun: There's not much meat on the bones but with various carefully worded AGM resolutions now starting to take shape, this year's meeting is set to resemble last December's as key people canvass for support. The calm before the storm?
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When we went into administration I almost instantly (within the first month) had some major concerns because I quickly came to thinking that I didn't trust the administrators, didn't think they would get us out of it via a CVA and didn't think they seemed to be doing their jobs properly because if they had been, then they would have tried to rescue the company as a going concern. To do that, they would have needed to quickly address the cost base and stop the monthly loss-making, but they just went for a short-term fix/bandage to see out the season instead of properly cutting costs to address the going concern like administrators do in most football club administrations. After the shambles of their bidding process and finally bringing in Green & co (like they seem to have planned well in advance!), when D&P did their first presser with Green a feeling of dread & despair came over me because I could tell immediately that he was a bullshitting patter merchant and didn't trust him right from that point. It was a case of 'who the f**k is this clown?' and a distinct feeling of disappointment. Then we had to endure the failed CVA, being wrongfully stripped of our SPL share and kicked out of our league, left with no league at all for a period and questions hanging over our SFA license as well. When we finally got it sorted out and started the season in the 4th tier there was a sort of positive buzz that I never really understood, because I never felt as if it was right that we should be down there in the 3rd Division. I could obviously understand the positive buzz in the sense that we were still here with our history and titles despite the best efforts of our enemies and those who wanted (and tried) to kill us off, but didn't understand the positivity from numerous other perspectives, like the unprecedented treatment of our Club and the worries from footballing and financial/business perspectives. Not only did many of our fans think that it was just a simple case of 3 seasons of a journey back up through the lower leagues to the top flight, but many actually believed that it was an 'opportunity' to rebuild not only the business, but some kind of fabled & mystical footballing 'philosophy'. There was talk amongst fans of not only winning every single game in the 4th & 3rd tiers, but battering the opposition 8-0, 9-0 or 10-0 every week. I didn't buy into any of that because I thought it was always going to be more difficult than many of our fans thought it would be. Yes, we would dish out some hammerings along the way, but it was always going to be a battle too, both on and off the park no matter how many SPL-standard players we signed and no matter how many crazy moonbeams Green & co served us up. What we need to do now though, is completely forget about any mythical 'opportunities' or lost chances to create new 'footballing philosophies' and face the stark reality of where we currently are. I'm not saying forgive or forget (far from it!), but we urgently need to get up to speed and deal in the here & now. Depending on how things go off the park this month, we might be heading for another insolvency/administration event, but we don't know for sure either way because nothing is certain on that front, just as nothing is certain on the pitch either. We might drop points or lose a match, but no matter what happens, I think we all know that the 'journey' is getting tougher and tougher and that's something which was always on the cards both on & off the pitch, so it certainly shouldn't come as a surprise. The idea of an easy journey back up over 3 or 4 years while creating golden seeds for the future amidst new philosophies for the Club was a total and utter pipe dream. Even if we had been taken over by good guys instead of chancers and liars like Green & co, we were still realistically facing trouble along the way and potentially a period of 5 years or more before getting properly back on our feet and challenging in the top flight again. We might not be in a good position right now, but essentially, nothing has changed and we're still on the same path albeit a slightly more windy & rocky one than many of our fans seemed to think it would be. Our progress back to where we belong might still be set back even further by current and/or future financial issues, but we don't know for sure yet. What we do know for sure is that the people running the show need to collectively get their acts together, steer the Club in the right direction and ease the worries of the supporters, not through more moonbeams and lies like were served up in the past, but by addressing the immediate future as openly and honestly as they can without damaging the value of their precious shares.
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Bawsburst on RM hinting at something happening soon with this recently formed company by Laxey pic.twitter.com/Nc8zHXA8Dn So Laxey's Kingsnorth registers a new company called GreenWhiteStar UK PLC. How disgustingly ironic
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It's the Sun so hopefully as untrue as many of their stories, but, it does chime with Keith Jackson's recent statement that we'd have no money in weeks, not months and if you remember the original estimate of "last million by April" and deduct unseen pay offs since that prediction then this is scary enough, despite the source. The emboldening at the end is by me, not the paper, to perhaps give a more hopeful reading experience for you - though again it is a dodgy source. "RANGERS are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks. The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February. New chief executive Graham Wallace has assured fans there is no danger of a second plunge into administration — two years after ex-owner Craig Whyte steered the club to its doom. But in a complaint to the AIM exchange, a disgruntled investor writes: “It’s the worst-kept secret in Scotland that the club is running out of money in the next few weeks, yet the board has made no announcement.” The shareholder says Rangers should have disclosed any projected shortfall under stock market rules. AIM chiefs have vowed to investigate the claims. An Ibrox spokesman said they could not comment on regulatory matters. But a source said last night: “It’s untrue — there are people trying to undermine the board." (By Cameron Hay) -
http://www.dailyrecord.co.uk/sport/football/football-news/rangers-bring-new-financial-guru-3009812 FORMER Liverpool and Arsenal financial chief Philip Nash is recruited as a consultant to help streamline the club’s massive outgoings and slash budget. RANGERS have stepped up plans to wipe millions from their budget – by employing a new financial guru to help oversee cuts. Record Sport can reveal former Liverpool and Arsenal financial chief Philip Nash has been recruited by the Ibrox board in a “consultancy” role to help oversee streamlining of the club’s enormous spending. Yesterday the club’s share price fell to 27p and Nash joins chief executive Graham Wallace along with financial director Brian Stockbridge to become the THIRD highly-paid chartered accountant at the top end of the regime. Two further money men, Andrew Dickson and Ken Olverman, are also employed by the club which now needs Nash’s expertise to help turn around losses of an estimated £1m per month. Nash was headhunted by Liverpool in 2008 after helping Arsenal finance their multi-million move from Highbury to the Emirates Stadium. He survived a regime change at Anfield and was credited with helping the club tie up £20m shirt sponsorship with Standard Chartered Bank before standing down in December 2012 citing family reasons. Rangers’ financial position has deteriorated alarmingly in the past 12 months and Stockbridge has admitted they may be down to their last million in little more than two months. As another high earner arrives, Ally McCoist is readying himself for cuts. But he insists Wallace accepts that dramatically slashing the playing budget will undermine progress through the divisions. But the manager admits he does not know the extent to which he will be forced to cut – even after a lengthy meeting with Wallace on Tuesday. McCoist said: “Graham hasn’t told me I need to sell players or get rid of them. “It was just an overall view of the football side and we will meet again next week. “He hasn’t made it known to me where those cuts are going to take place and in what shape or form. “It would make sense to Graham that just cutting and selling is not the right way to go about it in terms of the progression of the club, the team and the squad. “If you need to take one step back to take two or three forward again, that will be Graham’s decision.” McCoist hopes he does not have to lose players during the transfer window. He said: “I would be thrilled to bits if there were no bids.”
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The Reqs the facts. http://www.rangersmedia.co.uk/requisitioners-the-facts/
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This makes interesting reading. I await 'sporting integrity' campaigns and boycotts of Rugby Park. Premier League strugglers Kilmarnock are set to have millions of pounds worth of debt written off — at the taxpayer’s expense. The Sunday Post can reveal that the Bank of Scotland — part of Lloyds Banking Group — is considering writing off the majority of the £9 million debt owed by Kilmarnock as part of a deal to settle the club’s future. It is understood owner Michael Johnston has put a proposal to Lloyds, which is 32.7% owned by the taxpayer after the Government’s 2008 bail-out, that will see just a fraction of the debt taken on by Johnston and co-director Billy Bowie. The football club would then be left with no bank debt, instead owing the cash — between £1 million and £2 million to Bowie and Johnston in a “soft” loan. Johnston is under fire from a large section of the Ayrshire team’s fans who want him to give up control of the club and sell his stake to a community-led consortium. But it is understood that even if the club is sold to fans’ groups and local business leaders, most of the club’s bank debt is still likely to be written off. Critics last night hit out at the prospect of a taxpayer-funded bank, wiping out the debt. Eben Wilson, director of campaign group Taxpayer Scotland, said: “Taxpayers, as shareholders in this bank, should be wary that any write-offs do not benefit one individual. “We need all toxic loans made in a time of madness to be made visible and accounted for. “Whether clearing out toxic loans or standing firm on our behalf is the best course of action is up to the bank, but we hope that they will recognise we want the money back that has kept them trading in the past few years.” The Sunday Post understands bosses at Lloyds have already classified Kilmarnock’s debts as “impaired” — an accountancy term for a debt unlikely to be repaid in full. However, this does not mean they have given up on getting some of the money owed. It is thought the plan being worked on is to try to avoid any prospect of the club going into administration, a move which would wipe out much of the money owed to the bank. Paul Goodwin, head of Supporters Direct, which helps start football fan ownership schemes, said: “A deal has to be struck with the bank but the hard reality is that no matter what the outcome is, the club has big debts which need to be addressed.” Kilmarnock chairman Michael Johnston failed to respond to a request by The Sunday Post for a comment. Lloyds Banking Group declined to comment. http://www.sundaypost.com/news-views/scotland/critics-blast-kilmarnock-debt-write-off-plans-1.162896
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I know I will get Pelter's for posting this, but thought I may get the other side of the coins thoughts. It was taken from RM and put together by a poster called TheLawMan "I recently posted about the Murray myths around debt reduction and Break even Domestic policy however i see today he is still claiming he helped reduce debt. His fans appear to believe him as well, despite the facts disputing what he says. Anyway, i thought i would take things a little further and look at the facts and figures of the people we are being asked to vote for. I know this type of thing normally bores people but I would urge you to read through Murrays CV. First an in-depth look at Paul Murrays Directorships – Past and present. Source : http://companycheck....ector/907102823 Lets start with his current active Directorships: Delamore Holdings (2007 to present) ( -£5m Net worth) – A flower and plant wholesaler – Assets of £1.68m and Liabilities of £1.78m. Cash in bank depleted from £652k in 2008 to £184k in 2012 year end accounts. Points to note. 2012 was a £973k loss following on from a £733k loss in 2011 and a long term loan was taken out to repay short term commitments. R.Delamore Limited (2007 to present) (£1.4m Net Worth) – A flower and plant wholesaler – Assets of £1.5m and Liabilities of £1.45m. Cash in bank depleted from £652k in 2008 to £0.8k in 2012 year end accounts. – Points to note. Due to cash depletion and a Going Concern issue, the company took out a new £2.25m loan to repay other loans and made a £628k loss last year. MGI Investments Limited (2004 to present) ( -£64k Net Worth) – A Management Consultancy firm – Assets of £23k and liabilities of £90k. Cash in bank depleted from £91k in 2008 to £3.6k in 2012 year end accounts. Vicast Limited (2013 to present) – A Business and Domestic Software Company – No information as no accounts filed but should be noted that fellow Directors are Martin Bain, John McLelland and Jacqueline Gourlay. St Marys School, Melrose (2009 to present) – (£2.85m net worth) – Education – Assets of £99.6k and Liabilities of £91.2k. Cash in bank depleted from £85k in 2008 to £6.7k in 2012 year end accounts. In summary, he holds 5 active directorships(there is a duplicate listing for MGI on the website) with a total Net Worth of Minus £814,000. Assets of £3.3m and liabilities of £3.4m. Total Cash of £189k. Now lets look at Past Directorships. Urban Life Properties Limited (2003 to 2009) – Dissolved in 2009 RFC 2012 PLC (2007 to 2011) – In Liquidation Wireless Systems International (2000 – 2002 ) – Dissolved in 2004 Martin Currie European Partners and Martin Currie Investment Management Limited (2003 – 2004) – Dissolved in 2007. Paul Murray was brought on board as MD of this business to launch a new £200m private equity fund. He only managed to raise 10% of target and left the business in 2004 after Currie suspended the launch of the fund. 3i PLC (September 1999 to April 2000) – Still active and a huge business with a £80m deficit of Liabilities v Assets Scientia Ferovia Limited + Scientifics Group Service Limited + Harwell Scientifics + Atesta Trustees Limited + Atesta Holding Limited + Scientifics Limited (all 2005 to 2006) – All non trading. It isn’t rocket science but looking at the above list, his Executive Directorships have been an absolute failure. 3 Dissolved, 1 liquidated, 6 non trading and the only 1 of any note, he only lasted less than 7 months in, and that was 13 years ago. Add that to his current directorships and we really need to ask...... WHY PAUL MURRAY ?? Anyway, lets now look at the total current directorships of Paul Murray, Malcolm Murray, Scott Murdoch and Alex Wilson from the above source. 10 COMPANIES NET WORTH = Minus £27.3m ASSETS = £29.4m LIABILITES = £86.3m CASH in bank = £2.23 million Now lets look at the other half which is principally Somers and Easdale. 13 COMPANIES NET WORTH = £294.9m ASSETS = £3.5 billion LIABILITIES = £3.4 billion CASH in bank = £1.3 billion SUMMARY The current record of Paul Murray, Malcolm Murray and Scott Murdoch is dreadful. Liabilities running at 300% to assets, dissolved companies, liquidations, cash only going one way over last 5 years in all of their companies yet we are expected to believe they are the team to take us forward. Contrast that with Somers companies whose cash has multiplied by millions and hundreds of millions in his companies. Huge assets, huge network, just huge all round."
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KEITH JACKSON follows the money trail at Rangers which reveals the staggering sums of cash that have changed hands at the Gers. OK, so you’re just back in from the paper shop. First off, congratulations on your purchase, needless to say you’ve made an excellent choice. Now, turn out your pockets and sift through the shrapnel. Is there a single shiny pound coin in the change? If so, what do you have planned for it? How far can you make it stretch? To help out, here’s some research on what you’ll get for your money. Homer Simpson novelty socks, a pack of chewing gum, a McChicken Sandwich, a three-minute hair colour revitaliser or de-frizz treatment, two second-class stamps, a track from iTunes, a pack of hair-clips, half a dozen morning rolls, two pints of milk or a kilo of sawdust. Alternatively, you could take it for a punt. Turn it into millions for the price of a pair of Primark knickers. Or, if you don’t fancy the odds of 125,000,000/1 here’s an even better idea. Buy Rangers Football Club. There is, of course, an old adage that you don’t make money from investing in football but this ongoing omnishambles at Ibrox bucks that trend quite spectacularly. Just lately, Rangers have been a sure thing. When Craig Whyte handed over his £1 coin to Sir David Murray on May 6, 2011, (he did hand it over didn’t he?) he was in fact, unlocking a jackpot. He was also opening up a financial scandal. Ever since, the level of sheer greed around this bloated cash cow of a club has been truly shameful and staggering. Also, it appears to be unrelenting. Just last week the club announced annual losses in excess of £14m. This was eye-watering stuff which might just have shaken a massive rump of the Ibrox support to its core. Yesterday’s protests against the board at Somerset Park suggest many of these fans have now woken up to the fact their club is being milked once again for all of its worth. So let us strip this story back to its starting point and examine the enormous sums that have come and gone between then and now. All for the price of Whyte’s pound. There is no precise way of knowing how much Donald Muir, the financial fixer who plucked Whyte from obscurity and delivered him on to Rangers’ doorstep, profited from his seminal role in this debacle. But given his paymasters at Lloyds wiped out an £18m debt overnight and also freed itself from the spectre of a £50m tax bill, it seems safe to assume Muir’s reward would have been suitably juicy. It was certainly an extraordinary piece of business. A great deal for Murray and Lloyds, a bargain for Whyte, almost certainly a lucrative pay day for Muir. But the onset of an unimaginable and unmitigated disaster for Rangers. And this was only just beginning. One of Whyte’s closest allies during his takeover was David Grier of Merchant Corporate Recovery. In 2011, shortly after Whyte was in place, MCR was bought over by Duff and Phelps. Again, it is safe to assume Grier was no worse off as a result of this buy-out. He was also given a leading executive role with Duff and Phelps. And Grier, having already been paid by Rangers to give Whyte financial advice, was now also about to cash in on the club’s administration. On February 14, 2012, Whyte succeeded in having Duff and Phelps appointed as administrators. The final bill for their services came to more than £5.5m. This, of course, was after Whyte had raised £27m from a season ticket deal with Ticketus. In his nine months as chairman he also stuffed the taxman for around £15m in unpaid PAYE. And the £18m of debt that he bought from Lloyds for a pound? That disappeared too in June 2012 when Charles Green, the man hand picked from nowhere by Duff and Phelps as the club’s saviour, failed to agree a CVA and liquidated the old company. Green then picked up Ibrox and Murray Park for a £5.5m snip, which was another astonishing deal given that it was conducted in a closed shop without other offers being invited by the administrators. OK, so how far has Whyte’s pound stretched by this stage? Conservatively – and even without that phantom £50m EBT bill – over £70m worth of solid trading has now been accounted for on the back of his initial transaction. And Green’s big hands haven’t even started rubbing yet. We know the rest inside out. Two lumps of season ticket cash, fetching a combined total of around £16m. An initial cash injection into the Newco of £12m. In December 2012, an IPO worth a further £22m. Now admittedly, this is back of a fag packet accounting but even so these figures add up to £50m. And yet last week the club’s financial director Brian Stockbridge signed off on a set of results and admitted almost all of it had vanished. In fact, a mind-blowing total of around £6m of the IPO cash was emptied out the back-door on ‘fees’ almost as soon as it had come in through the front. By June of this year, according to Stockbridge, £11m was all that was left in the Rangers’ account. Green, meanwhile, was buying himself a retirement castle in France (What is it with Rangers? How come everyone ends up in a castle in the end?) after trousering more than £1m in wages, bonuses and pay-offs in less than a year. In fact, he was sent on his way with a £600,000 goodbye when he should have been sacked for gross misconduct and told to leave the premises with nothing. Well, nothing more than his £3m worth of shares. The ever-generous Stockbridge signed off on that one too, having just awarded himself £200,000 for watching Ally McCoist win the Third Division title. The Rangers manager, of course, was also handsomely rewarded, with wages of £825,000 for winning the one title this club never previously had ambitions to win. And yet McCoist came cheap at half the price. Were it not for his public validation of Green then a wary Rangers support would not have rushed to stump up for 38,000 season tickets. And without this phenomenal level of backing, Green’s plans to make a killing on a hurried share issue would also have been up in smoke. So what is the Ibrox totaliser standing at now? £125m? Maybe a good deal more? All divvied up on the back of a one pound deal. Yes, this Rangers story is a disgusting tale of sickening greed, dragged out over a sustained two-and-a-half year period of obscene scavenging. All the while the club itself continues to drift towards the rocks for a second time with those at the helm seemingly too busy barricading themselves in to notice the imminent danger. And, really, who could blame them? In this shameless orgy they’ve enjoyed quite a bang for their buck and groped a great deal of flesh for a pound.
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Written by The Ref: The definition of sabotage is:- 1. The destruction of property or obstruction of normal operations, as by civilians or enemy agents in time of war. 2. Treacherous action to defeat or hinder a cause or an endeavour; deliberate subversion. The term "sabotage" derives from French factory workers throwing their wooden shoes ("sabots") into machinery to jam them and stop production. In a sense this was the very first use of industrial sabotage. The aim of industrial sabotage is to cause maximum disruption and/or damage by secretive means. Often industrial sabotage works hand in hand with industrial and economic espionage. Economic espionage is often orchestrated by governments and is international in scope, while industrial espionage is more often national and occurs between companies or corporations. The purpose of espionage is to gather knowledge about an organisation or organisations and it may describe activities such as theft of trade secrets, bribery, blackmail and technological surveillance. In any business, including football, information can make the difference between success and failure; if secret information is stolen, the competitive playing field can be levelled or even tipped in favour of a competitor. Although a lot of information-gathering is achieved legally through competitive intelligence; at times other parties feel the best way to get information is to take it. This commonly occurs in one of two ways. Either a disgruntled or dissatisfied employee appropriates information to advance their own interests or to damage the company or, secondly, a competitor or foreign government seeks information to advance its own technological or financial interest. ‘Moles’ or trusted insiders are generally considered the best sources for economic or industrial espionage. Individuals may leave one company to take up employment with another and take sensitive information with them. As a Rangers supporter, I read the above and draw great similarities to what we have witnessed over the last few years and continue to witness now. Have the normal operations of our club been disrupted? Yes, and they still are. As we endeavoured to rid ourselves of the debt we were carrying under David Murray, were we hindered? Yes. David Murray was being pressurised to sell the club by the Lloyds banking group, despite successfully managing to reduce the debt we were carrying. With the outcome of the ‘Big Tax Case, still in the balance, and with sensitive and confidential information surrounding the tax case being leaked illegally to the general public through the media and online blogs on an almost daily basis, it made it almost impossible for Murray to find a buyer. How convenient it was then, when a little known man by the name of Craig Whyte appeared on the scene to buy the club for the princely sum of £1. Quite who Craig Whyte is, where his loyalties lay, or the real reasons why he bought our club are still not known, but I for one would like to know what his real part was in the destruction of our club. Was he put in place to deliberately drag our club down? Was he a pawn in a much bigger game? Was he really just a charlatan and fly-by-night who saw an opportunity to fleece one of Britain’s great institutions? Will we ever know? When we survived with our history intact, I suspect many thought that we had reached the end game and could move on. It is obvious that we will not be allowed to move on. We are still being attacked; confidential information is still being stolen from our club and leaked to the public. Whether this is being done by a mole or electronically, I don’t know, but somehow that information is finding its way into the public domain and damaging our club in its efforts to stabilise, move on and recover from the events of the last few years, and it must be stopped. I am convinced that a major crime has been and is still being committed here, and the only way to get to the bottom of this is to have a full independent police investigation. The leaking of confidential information itself is a breach of the Official Secrets Act 1989 and warrants an investigation. I don’t want to appear paranoid, but something stinks in this whole saga, a saga which has brought Rangers fans into conflict with each other, simply due to the lack of honesty, truth and clarification surrounding this whole mess. The thought that a group or organisation may have deliberately tried to destroy the institution which is Rangers Football Club may seem like something from the film Mission Impossible, but could it actually be nearer the truth than some would like us to believe? http://www.vanguardbears.co.uk/article.php?i=97&a=industrial-sabotage
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Analysis: is Blue Knight Paul Murray fighting a losing battle? Hugh Macdonald Wednesday 21 August 201 THE shifting quicksands of the Rangers saga have consumed a variety of personalities. Charles Green, the bluff Yorkshireman from central casting, joined the ranks yet again of those who have been banished from the drama on the south side but a more significant character now has a leading role in what will happen at Ibrox. The name of Paul Murray was absent from a Rangers statement in the wake of the dismissal of Green as a consultant but it does not require the combined skills of Interpol to deduce that he forms a block to any immediate resolution to the boardroom problems. To summarise the plot so far, if somewhat crudely: there is a move from outside the boardroom to remove Brian Stockbridge, Craig Mather and Bryan Smart and replace them with Frank Blin and Murray. A club statement last night read: "This board has been working tirelessly to find an intelligent solution to the request for a general meeting and all of the directors are open to sensible and reasonable additions. For instance, the board are not against Frank Blin becoming a director but do have reservations about other proposals.'' When it comes to Murray, some on the board have more reservations than the Apaches. There was a feeling of relief that Green had gone, a belief among his opponents that a metaphorical stake had finally been placed through the heart of the significant shareholder, but there was also an anxiety about his almost diabolical powers of recovery. The most pressing difficulty for Rangers, however, centres on Murray. The opposition group could make a compromise by suggesting Blin, former executive chairman of PricewaterhouseCoopers Scotland, is joined on the board by A.N Other. Jim McColl, part of the outside group, would not consider such a role but the more intriguing aspect is the willingness or otherwise of Murray to relinquish his attempt to join a board that needs stability. The indications last night were surprising concrete given the fluidity of events at Ibrox. First, it seems there exists a strong aversion to bringing in Murray from among existing board members. Second, there was no sign of Murray issuing any sort of statement saying he would fall on his sword to facilitate peace, at least for the present. The objections are believed to be both personal and on matters of business. The accountant was part of the board before Craig Whyte bought the club and is seen by some as part of the problem rather than part of the solution. One City source said: "Murray had his chance to influence matters when he was on the board and then had his chance with the Blue Knights. There is no mood among some on the board to bring him back into the fold.'' The private concerns are shrouded in claim and counter claim. The Rangers story has been extraordinarily messy with dirt thrown in all directions. Information has leaked steadily. Murray, rightly or wrongly, has been suspected as one of those who have used media outlets to his advantage. If true, he would stand in a crowded dock as the briefings have come from almost every source, every faction. However, the fog of war has cleared just a little over Ibrox. Green has been sacked, disposed of by an increasingly frustrated and determined Mather. There is now an opportunity for compromise and even, heaven forfend, resolution of the boardroom struggle. This could come in a variety of forms. Two options are most likely. The first is Murray stands down and the McColl group is allowed to bring in Blin and an unspecified ally. The second is that Murray, backed by McColl, stands his ground and maintains his attempt to come on to the board. This eventuality would be fast-tracked by the approval of a vote at the extraordinary general meeting. The crux of the matter is this: if the McColl group is sure of the support of a group of shareholders, it will feel it has no need to sacrifice the candidature of Murray. McColl and his cohorts will flex their muscle and the Blue Room will undergo yet another change of cast. Mather, it must be presumed, would not wait to be pushed and Stockbridge and Smart would face a limited future. There are a couple of possible twists, of course. This is a Rangers story, after all. The first is Murray could step aside temporarily, peace could break out and he could then be brought on board at a later stage. The second is that the present board finds enough support to win any vote. There is also the possibility of hearing the less than dulcet tones of Green joining the increasingly raucous debate. He may be gone but no one will be surprised at another scene-stealing interruption from the former chief executive. However, the narrative is now about Murray. Will he walk away or will he pursue his ambition to be on the board? History suggests it be latter option. The arithmetic will decide whether the erstwhile Blue Knight finally lands his prize. http://www.heraldscotland.com/sport/football/analysis-is-blue-knight-paul-murray-fighting-a-losing-battle.1377061992
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http://www.telegraph.co.uk/sport/football/teams/rangers/8422821/Rangers-chairman-admits-the-club-could-go-bust-if-no-white-knight-is-found.html The protest organisers took absolute pelters last year over him, plenty of people on RM particularly went all out to prove him a friend of the club, attending clandestine meetings and publishuing articles in an attempt to discredit the protests and now our chairman has broken his silence over him. He truly is the enemy within, to coin a phrase.
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Darrell King Share 4 Apr 2011 Almost a year ago, this newspaper broke the story that Rangers were under investigation from HMRC over the use of Employment Benefit Trusts for over a decade. In the same article, we said that Lloyds Bank only had one plan for the club ââ?¬â?? cuts, cuts and more cuts. This would leave a team made up of players on low wages, with the squad supplemented by kids from Murray Park. Star names would go and, on top of that, the stadium was being neglected. We said that administration was a possibility, and that a sale would be unlikely unless someone agreed to offer a warranty on the potential tax bill that could, if found a case was there to answer, amount to tens of millions of pounds. The reaction? We were accused of scaremongering; in fact, some reckoned there were agendas at work to devalue the club just as they were going through an attempted take-over bid from Andrew Ellis. The day after we ran the story ââ?¬â?? which came about after weeks of investigation, including talking to players who at that stage had received letters from HMRC saying they would be part of a future probe, and talking to sources inside the boardroom ââ?¬â?? Sir David Murray responded. It was April 30 last year and, unless Iââ?¬â?¢ve missed it, that was probably the last time he went on record to talk about anything to do with the club. ââ?¬Å?This amounts to scare- mongering. Rangers are not in any danger because of their financial position,ââ?¬Â said Sir David. ââ?¬Å?People can think what they want of me, but one thing I would never do is put the club in danger. ââ?¬Å?If anyone wants to buy, let them make their play. They do due diligence and see where they are ââ?¬â?? but there is nothing to hide. ââ?¬Å?Iââ?¬â?¢ve had the club up for sale for two years. I am not going to be hard to deal with. It is a straightforward process.ââ?¬Â Subsequently, as we also predicted, Ellisââ?¬â?¢s bid fell. The ââ?¬Ë?for saleââ?¬â?¢ sign came down, well publicly anyway. And Rangers drifted on. Behind the scenes, Lloyds tightened their grip, squeezed more and the squad was asset-stripped further and further. Only Walter Smith ââ?¬â?? and his guidance of the team to two successive championships ââ?¬â??saved them from oblivion. Anyone who doubts that, just pause for a minute. Read the words of Alastair Johnston on Friday and imagine life at Rangers Ã?£30million poorer from what the Champions League has earned the club in the past two years. In fact, every Rangers fan should read what Johnston said over and over. Last Friday was the day when someone finally told it as it is. The day the chairman said enough was enough. Sure, he maybe got carried away, the nod of his head to a query on whether the club could go bust sparking all sorts of doomsday headlines and a subsequent retraction to the Stock Exchange. But Johnston showed guts and, in doing so, endorsed what this paper said a year ago. I wonder how the Lloyds Bank PR person felt on Friday when Johnston revealed that Donald Muir was the bankââ?¬â?¢s man, and that the only reason Rangersââ?¬â?¢ credit facility was rubber-stamped was because he was on the board. Or the fact that Lloyds refused to speak to Martin Bain ââ?¬â?? the man paid to run the club ââ?¬â?? for the first six months after they moved in back in October 2009, preferring to do all their business through Muir, who was acting on their behalf. This is the same Lloyds PR man who challenged us at every turn, asking us to remove any mention in articles that Muir was ââ?¬Ë?Lloyds Bankââ?¬â?¢s manââ?¬â?¢ and insisting that he was actually there are at the behest of the Murray Group. What Johnston did was brave, honourable and truthful at the same time. He laid it bare for Rangers fans who looked at our headlines a year ago and said ââ?¬Å?No way, not us. We are Rangers. Taxman? Administration? Not a chance.ââ?¬Â Well, the truth is out there now. Johnston is a fan first, chairman second. He knows itââ?¬â?¢s quite outrageous to ask the clubââ?¬â?¢s supporters (as is about to happen) to collectively shell out in the region of Ã?£15m in season ticket money when they donââ?¬â?¢t actually know what they will be watching next term. He also put pressure on all those involved in the current situation ââ?¬â?? Craig Whyte, Murray and the bank. Itââ?¬â?¢s time to do a deal, or move aside. His message, essentially, is this: If the status quo is to remain, let us know so we all know what we are getting into ââ?¬â?? especially Ally McCoist. Murray spoke of a straight-forward process, yet Ellis couldnââ?¬â?¢t see it through after months of hanging around. Whyte has been on the scene for five months, and we are now told it will be this week when a decision is finally made. His camp say he is getting little help, especially over issues like the Ã?£2.8m tax bill that popped up last week at the 11th hour. Murray wants Ã?£6m for his shares, when it could be argued that they are worthless in light of the possible tax liability that could sink them out of sight. The bank want their full Ã?£24m when they are selling off bad debts all over the place at 60p in the pound. They are looking after themselves, fair enough, but at least be straight. Donââ?¬â?¢t kid people on you are supportive when you are looking after your own interests. And what of Whyte? We know nothing really of this man, except that he appears to have patience, money to back him up, and that he has impressed Johnston and the board. If he walks, for whatever reason, he should tell the Rangers support why. If he does a deal then, even with tax problems still hanging around their neck, the club has a chance. But the time has come for him to show his hand. Buying Rangers is, after all, said to be a straightforward process. http://www.eveningtimes.co.uk/sport/editor-s-picks/the-truth-is-out-there-1.1094453
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By Roddy Forsyth 11:00PM BST 01 Apr 2011 It soon became clear, though, that settling accounts was more on the Ibrox chairmanââ?¬â?¢s mind when he sat down in one of the stadiumââ?¬â?¢s plush lounges to offer a candid appraisal of the clubââ?¬â?¢s situation and the progress of the takeover bid being mounted by the London-based Scottish venture capitalist, Craig Whyte. By the time he had finished, he had delivered blistering criticisms of Lloyds Banking Group and Donald Muir ââ?¬â?? one of the bankââ?¬â?¢s placemen on the Rangers board. Johnston also confirmed that, if Whyteââ?¬â?¢s takeover is not concluded by close of business on Monday, Rangers are likely to go into administration if they lose their battle with HMRC over offshore payments to players. The clue that this was not going to be a soporific drone through questions of disposable assets and amortisations lay in the text of Rangersââ?¬â?¢ interim accounts to Dec 31, 2010, released earlier in the morning. They were pretty much in line with last yearââ?¬â?¢s equivalent figures, although turnover was down by Ã?£4.1 million to Ã?£33.7 million, with the same reduction in retained profit. The downturn was accounted for by home games postponed because of severe winter weather and by a five per cent reduction in season ticket sales, ascribed to the economic climate. However, amidst a note on the extension of credit facilities it was remarked that, ââ?¬Å?while we appreciate the support of the Lloyds Banking Group ... certain provisions imposed on the club continue to compromise, in our opinion, managementââ?¬â?¢s ability to conduct its role with maximum efficiency.ââ?¬Â There was meat in that and, as soon as Johnston sat down with a small group of correspondents, it was served up in ample portion and more or less raw. Asked how Lloyds had ââ?¬Ë?compromisedââ?¬â?¢ Rangers, Johnston said: ââ?¬Å?The bank look on us as a short-term project to the extent that at every opportunity theyââ?¬â?¢re not willing to concede that there isnââ?¬â?¢t an occasion or a transaction where they might want to participate. ââ?¬Å?If we sell players, do we have any certainty that we will get all the money, 90 per cent of it, 80 per cent of it, whatever? It makes it tough for our management to understand and to plan for selling players when we donââ?¬â?¢t know how much of the money weââ?¬â?¢re getting to keep. ââ?¬Å?The management team is reluctant to sell players because they donââ?¬â?¢t know if theyââ?¬â?¢ll get enough money to replace them. So when I say they compromise us, I mean they compromise our ability to plan three-year cycles. ââ?¬Å?They [Lloyds] have been fairly assiduous at saying, ââ?¬Ë?While we are willing to look at this on a case-by-case basis, weââ?¬â?¢re never going to give you carte blanche to think itââ?¬â?¢s all your money ââ?¬â?? if you get into the Champions League weââ?¬â?¢ll want part of itââ?¬â?¢. Therefore our management team is wary of doing certain things that in the long run might come back and haunt them.ââ?¬Â But wasnââ?¬â?¢t the purpose of having Muir on the Ibrox board to ease communications between the directors and the bank? ââ?¬Å?Letââ?¬â?¢s be very clear on the situation with Donald Muir ââ?¬â?? itââ?¬â?¢s a condition of our credit facility agreement that Donald Muir is the representative of the bank on the board. "Itââ?¬â?¢s very tough to engage in conversations at board level about strategies with the bank when we know that the bank guy is sitting there,ââ?¬Â said Johnston who, when asked why it had been denied previously that Muir was Lloydââ?¬â?¢s man, had a sharp retort. ââ?¬Å?I think it was Donald that denied that. Itââ?¬â?¢s been denied by a lot of people, but Iââ?¬â?¢m telling you what the issue is right now. I decided that I might as well,ââ?¬Â said Johnston. ââ?¬Å?What happened when I got here was that the banker that was involved with us refused to talk to our chief executive or to our chief financial officer. It was one of the most stupid aberrations that Iââ?¬â?¢ve ever come across and I said that to the bank. "He had never met our chief financial officer. He had never met Martin Bain [Rangersââ?¬â?¢ chief executive], so all the communications had to go through Donald Muir and Mike McGill, the other director, although essentially it was more through Donald than it was Mike. ââ?¬Å?So a lot of stuff got lost in translation.ââ?¬Â Would it be better for Rangers, therefore, if Muir ââ?¬â?? who is understood to have left the Murray Group on Thursday ââ?¬â?? also departed the club? ââ?¬Å?No question that his presence compromises things,ââ?¬Â said Johnston, although he added: ââ?¬Å?Iââ?¬â?¢ve always got on well with Donald Muir but I deal within the context of who he is.ââ?¬Â Johnston revealed that there were two HMRC issues, the latest ââ?¬â?? and much the smaller ââ?¬â?? being a claim by the tax authority for Ã?£2.8 million. ââ?¬Å?It relates to more than two or three players, but it relates to an issue 10 or 11 years ago ââ?¬â?? I donââ?¬â?¢t know the context of doing it,ââ?¬Â said the chairman. "As the Americans say, this one came right out of left-field. It really, really is frustrating. No one knew about it a couple of months ago ââ?¬â?? and let me put on record that if we did know about it we would have had to put it in our annual report and take liability for it in the accounts. ââ?¬Å?I donââ?¬â?¢t think it is a deal breaker. It wasnââ?¬â?¢t in any plan, it wasnââ?¬â?¢t in our budgets or anything that we have been trying to do. We have a very disciplined approach and I didnââ?¬â?¢t like that appearing over the horizon suddenly.ââ?¬Â As for the Whyte bid, it is understood that Murray had set a deadline of March 31 for completion but that other delays ââ?¬â?? including slow delivery of the bankââ?¬â?¢s authorisation for the bid to go through ââ?¬â?? required an extension. Still, it is surely a case of deal or no deal by Monday? ââ?¬Å?Exactly ââ?¬â?? that is the scenario that I am expecting,ââ?¬Â Johnston said. ââ?¬Å?I have to share with you the fact that amongst my fellow board members we have different views ââ?¬â?? but the board are reflective of my view which is, if we can get this thing right it will be good. ââ?¬Å?The club is the commodity ââ?¬â?? we donââ?¬â?¢t have a seat at the deal. We have to shove ourselves into the room. Our mission has been to represent Rangers Football Club and hundreds of thousands of supporters. We have no legal right to request it ââ?¬â?? but we have a moral right to request it.ââ?¬Â And if the deal fails and the HMRC judgment goes against Rangers in a few weeks? ââ?¬Å?Thereââ?¬â?¢s a 10,000lb gorilla in the room and you donââ?¬â?¢t know what its appetite is,ââ?¬Â Johnston replied. ââ?¬Å?Even accessing all the resources we have access to, we couldnââ?¬â?¢t pay the bill.ââ?¬Â From which the only conclusion is that, if there is no Whyte knight and if faced with an adverse judgment in the main HMRC case ââ?¬â?? which could amount to as much as a Ã?£30 million liability ââ?¬â?? Rangers would go bust after 139 years of existence. Johnstonââ?¬â?¢s silent nod of assent when asked that question was even more eloquent than any of the scalding words he had just uttered.
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THE reason for the delay in Rangers publishing their half-yearly figures is ,there are those on the Ibrox board who quite simply do not trust Lloyds. However, I believe that recent top level talks with the new men at the top of Lloyds will see Rangers release the figures this week. It surprises me that not much has been made of what has been going on at Lloyds' top table in the last month. For the fact is that since the last update on the power struggle on the Ibrox board, and my revelations about why the half yearly accounts had not been published, there have been massive changes at Lloyds. It now remains to be seen whether those changes will undermine the position of Donald Muir and Mike McGill, the two Ibrox directors who are seen as Lloyds men. Somehow, and for no reason I can fathom, the huge upheaval at Lloyds has not made its way onto the sports pages of the nation's newspapers. Though what's being going on at Lloyds has appeared on the business and financicial pages of such reputable media outlets as the Daily Telegraph and the Scotsman. Let's kick off right at the top of the tree. The man who was in charge of Lloyds as chief executive, Eric Daniels, is no more. And a good thing too, many may believe. Closer to home for Rangers, the executive director of Lloyds, who had special responsibilities for the bank's business in Scotland, Archibald Gerard Kane, is also no more. An even better thing those on the Ibrox board with the good of Rangers in their hearts, Martin Bain, Alastair Johnston John McClelland, Paul Murray and Dave King, may well believe. The new Lloyds chief executive is the Portuguese born Antonio Horto-Osorio, who took over three weeks ago, and who is believed to be a hands-on supremo. Certainly it did not take him long to express what many interpreted as his dis-satisfaction with the performance of Lanarkshire born man-of-mystery Kane. One of the new chief executive's acts was to show Kane the door and replace him with Philip Grant. My research into Grant seems to show he was previously with the Royal Bank of Scotland, but the probe is ongoing. More of Lloyds new man Grant at a later date. For the moment, it is better to examine just what has been going on between Rangers and Lloyds during this period of turmoil at the bank. You may recall that last month I revealed the four page document which contains Rangers half yearly figures, plus a statement from chief executive, Bain, was pulped after Muir and McGill were reported to have objected to what Bain had written. There followed a round of briefings by Donald Muir to a small cherrypicked group of reporters, which surprisingly exiled the Daily Record. WHY? Rangers were believed to be furious that the outcome of these clandestine meetings was a series of stories which claimed Lloyds had saved Rangers. There was even some talk that what Muir had done may have breached the strict confidentiality laws governing the relationship between a bank and its customer. While this was all going on, Bain met with the bank again to try and thrash out a new business plan. When he reported back to the Rangers board, McClelland, Murray and Johnston were unhappy with what the bank proposed. That led to a further delay This happened against the backdrop of Horto-Osorio was getting his feet under the Lloyds boardroom table. Now, with the arrival of the new executive director at Loyds with special responsibilites for their business in Scotland, Philip Grant, Rangers have a new man to negotiate with. The latest delay to the publication of the half yearly accounts is a direct result of those talks, with Rangers hoping they get more sense out of the new man than they did from Archibald Gerard Kane. Or from the man who was responsibe for business banking at Lloyds when they took over Rangers banking arrangements, the now departed founder board member of the Celtic Trust, Manus Joseph, J Fullerton. Rangers can point to the fact Lloys inherited a debt of �£31M, largely due to the club's absence from Europe in the year before, which had fallen to �£23M by the time the annual audited accounts were published in the summer of 2010. It is believed that debt to Lloyds will now be around �£20M....or even less. Which will show the new men at Lloyds the ability Rangers have to reduce their debt, provided they are allowed to conduct their business in a way geared to bring that business success. As the business of Rangers Football Club is football, success financially is relative to the success on the park of the team. Therefore, playing in Europe - even in the Europe League - increases the club's income. In turn making Rangers more able to continue to reduce its debt to Lloyds. That is neither brain surgery nor rocket science. The amazing thing is that Eric Daniels, Archibald Gerard Kane or Manus Joseph J Fullerton seemed to realise that. Or if they did, the gave every appearance of wanting to ignore the fact. For whatever reason. Now, perhaps trust will finally be established between Lloyds Bank and Rangers Football Club. http://leggoland2.blogspot.com/
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CRAIG WHYTE'S �£33million takeover of Rangers is this morning on the brink of completion - and it does NOT hinge on the outcome of the Ibrox tax case. Sunsport can reveal that the HMRC probe into Gers' finances will not affect the plans of the multi-millionaire venture capitalist and his deal partner Andrew Ellis. Ibrox insiders remain confident they will emerge from the investigation into offshore payments to stars without a penalty to pay. This week behind-the-scenes talks have taken Gers fan Whyte close to completing the complex deal that'll end Sir David Murray's 23-year reign. Next week Gers' financial figures are expected to show that the club's debt level has fallen to below the �£25m mark. Now the Whyte deal WILL be completed before the end of the season and it will mean this: # The sale of the club will go through with Whyte aided by Ellis paying around �£33m for Murray's 92 per cent share. # Rangers will be guaranteed a total of �£25m worth of investment in the playing budget over the next five years - in effect �£5m per season before any money brought in by Euro success and other avenues. # Ally McCoist, Kenny McDowall and Ian Durrant being given the chance to take control of the first team when Smith bids an emotional farewell in May. Gers have come through some of the very darkest financial days of their history and survived after Murray appointed turn-around specialist Donald Muir and Mike McGill to the board. It's understood Muir and McGill - one of steel tycoon Murray's most trusted voices within his own empire - helped win a crucial vote to stave off a board bid to take the club's debt to �£50m. With that manoeuvre quashed, Lloyds were then persuaded to keep the club's annual player wage bill at the �£16m level and not engage in a policy of slashing it to �£10m-a-year that would have in effect have handed domestic domination to Celtic. Now it is hoped that Rangers will emerge from the mire as a club that operates within its means. The reality is Gers will still sell the club's best players to England. Lifelong Gers fan Muir, brought in by Murray to help rescue his entire empire, has been painted as the enemy within by sections of the support. Now the ship is steadied and the Whyte deal is imminent. Read more: http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/3421235/Whyte-on-brink-of-takeover.html#ixzz1EMAjxNWD
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Donald Muir shared a wee late lunch on Friday for selected pressmen to give them a preview of what lay's in wait re our latest set of accounts , according to Mr Muir we were as some on here surmised actualy �£40 million in debt last year( the stated amount plus the additional transfer fees due ) , now we are just shy �£23 million with transfer fees and some European/scottish cup money , plus squad downsizing not included, Will hopefully find out more tomorrow , take this with the usual internet pinch of salt but I trust my mate
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Thinking about the news that offers are being received for Allan McGregor, I'm not really surprised that he will be sold. Wealthy clubs have always accumulated the best players and we should expect our best to be targeted by these clubs. After all, we've done it ourselves for over a hundred years. I do find it dispiriting that he might be sold for as little as �£5m which neither seems to reflect contemporary value nor the importance of the player to the club. Such underselling inevitably diminishes the club even further. But we have a ready replacement in Alexander, who will not let us down, and apart from the price this isn't the end of the world on its own. What I do find utterly depressing however is the lack of any apparent end to this decline. At the time when I first discovered Gersnet some years back I was convinced the club would diminish considerably from where it was then but I also expected a time would come when it would be sold and a new beginning would be reached, perhaps not quite on the scale of the 1986 rebirth but at least a fresh start. Now I fear we might yet look back and see these times as something to aspire to. If the tax investigation ends badly, we might easily sink without trace. I just hope we finally have it in us to wake up and never again put our unquestioning faith in an owner as we did with Murray. Not only did we close our collective eyes to what was going on at the club but we actively encouraged Murray to indulge himself with the thing we held so dear. "Rape us harder Dave, it must be good for us". How fucking stupid do we look now? And given the lack of any voice being raised against Murray even now, how stupid are we yet prepared to become. From the laughable posturing these last few months by the RST and other accumulations of plastic, it seems the pit of our stupidity might indeed be bottomless. Quite prepared to hoot about Lloyds and holler about Donald Muir, our 'reps' show their finely honed affectations at every turn but do you hear a single meaningful proposal directed at the root of the problem? Do you fuck. Do you see one attempt to harness the fans in protest? Do you see one glimmer of hope that the support has finally decided enough is enough? Do you fuck. It appears our capacity for self-deception and weakness is perhaps limitless after all. Instead of looking for the cause of our decline only in others, maybe we could usefully spend some time on more introspective reflection. just a thought.
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You may be interested to read the following post from Vanguardbears ... the poster himself is an impeccable source ... Good Bear I know has been in my work having a chat in the last hour. This bloke comes from Barrhead and grew up beside Donald Muir and was his guest at the Hamilton game last week. I've been told that Muir is as big a Bluenose as anyone can be and is doing all in his power to ensure Rangers are sold and back on the straight and narrow. When asked if the takeover was ever going to happen, apparently Muir said, the hold up was all concerning the tax problems Murray left us with, but Muir doesn't think it'll be too big a problem. He thinks Whyte and Ellis will own Rangers very soon and Murray will be gone for good. He even said, that he likes Ellis and his views on the club. Obviously I've not got the time to write everything that was said, so I'll just give a few hints on the conversation. Muir went to the bank and ensured Rangers got the spending money for Jelavic. Bain didn't want to spend this money and Walter persuaded him it was essential. Muir has no time for Bain at all. Muir has openly said, no harm will come to Rangers in the long term, whilst he's in control during difficult times. Muir was given the choice between two companies in shit street. One being the Gers, the other, Tom Farmer's (Opus Dei and Hibs) He chose the Gers. The banners saying enemy within etc towards Muir, apparently could not be further from the truth, as he's been a Bear all of his life and still has season books for the family etc. Just thought I would give a brief intro to what was said. The guy who gave this info, will be joining VB very soon and I've no reason to doubt his opinions. Like all of us, he's a Unionist - Loyalist - Rangers man.
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Shorerdbear discusses the alleged financial improvements we've seen at the club over the last year and asks just who is responsible for them. BEGINS In the last ten days a new wave of optimism has entered the psyche of Rangers fans - brought about with three new players being signed up. Signing players during pre-season is the done thing for football clubs; however, for Rangers fans last summer was the first season ever where new arrivals never materialised. According to the media it wouldnââ?¬â?¢t be the last either! We all knew the reasons why this was the case and for the most part, did not want to accept them. Pride can get in the way of logical decision making and when it comes down to football fans' expectations, business decisions can conflict with football ones. Walter and his players entered the 2009/10 season as champions. However, with no new arrivals to freshen the squad up, Walter faced the enormous task of challenging and retaining the title. Like the great managers of the past, Walter stepped up and delivered title 53 and secured the all important Champions League place and all the riches that comes with automatic Group Stage qualification! Moreover, we won the league against a backdrop of uncertainty via financial results and a rival who would do anything to discredit the success of Scotlandââ?¬â?¢s greatest football club. Across the globe success has always bred contempt; however, in some parts of Scotland - it only breeds paranoia and delusional thinking. To mould a winning team and hold your integrity intact takes a special type of person and thankfully - in Walter Smith - we have exactly that. Whether or not we win this years league championship, Walter can bow out with his head held high in the knowledge he played an integral part in turning the fortunes of Rangers around. The next name I mention may flabbergast fellow bears, it might even have them reach for the ââ?¬Ë?log offââ?¬â?¢ button. But, when a business model is failing and no investment is on the horizon, drastic measures have to be taken and it is usually in the way of ââ?¬Ë?cutsââ?¬â?¢! Donald Muir, ââ?¬Ë?the enemy withinââ?¬â?¢, was and in some parts still is seen as the devil. The shareholders voted against his appointment but when they roughly make up about 10% of the clubââ?¬â?¢s shareholding, it really didnââ?¬â?¢t mean much apart from a show of suspicion towards a man who was seen as the final nail in the coffin of our great club. However, Muir has remained steadfast in his approach to turning Rangers financial fortunes around. If he hadnââ?¬â?¢t, then we might not have signed three new players and perhaps Walter might not have had the chance to spend over Ã?£4 million on one player, the largest fee the club has spent on one transfer since Mikel Arteta was brought over from Spain. Weââ?¬â?¢ve heard all the ââ?¬Ë?rumoursââ?¬â?¢ of infighting on the board, threatened administration from the bank and that Walter might walk if he is not supplied with all the tools to challenge for honours. All blame has been directed towards Donald Muir and his alleged employers. Indeed, these perceived rumours might hold some water and perhaps somewhere down the line we might find out whether they were true or not! Now weââ?¬â?¢re reading published articles from the BBC that the debt has been ââ?¬Ë?substantiallyââ?¬â?¢ cut down and that there could be more arrivals to the playing staff. This would not be possible without drastic cuts in other expenditure; moreover, the current board seemed at a loss as to where they should make those cuts. Enter ââ?¬Ë?the enemy withinââ?¬â?¢ who, through his job role, and past experiences took a look at the club accounts and went about making tough and unpopular decisions that seem to be starting to reap dividends. Financially, weââ?¬â?¢re not out of the woods yet. Although, there is a clearing and this season is just as important as the last two. We have a squad more than capable of winning the league and with a ruthlessly business minded man on the board we may be on the cusp of a brighter future than we had been anticipating due to past mistakes. We have all thanked Walter up to now. Perhaps weââ?¬â?¢ll thank Donald Muir, ââ?¬Ë?the enemy withinââ?¬â?¢, sometime in the future?
