Search the Community
Showing results for tags 'fail'.
-
http://www.bbc.co.uk/sport/0/football/30674489 -
http://www.heraldscotland.com/sport/football/king-maps-out-plan-for-the-future.117959899 The suspicion is that if the existing directors are unable to muster the votes required to hold on to power by conventional means they will attempt to do so unconventionally. The savage personal attack on King contained in the statement to the AIM Stock Exchange on Friday underlined what many had long suspected; the power battle at Rangers is going to be a dirty one. Nevertheless, King and his associates are already looking further ahead and formulating plans which they believe will enable the Glasgow club to return to the forefront of Scottish football if they do take control. Appointing a permanent replacement for Ally McCoist by bringing in a manager who can rebuild the side and secure on-field success is at the top of their list of priorities. Luring Rangers stalwarts back into the club to work behind-the-scenes in a variety of roles is also seen as important so the identity of the institution can be restored. The fact no fewer than 12 members of the first team squad are out of contract in the summer is seen as an opportunity to substantially reduce a crippling wage bill that Charles Green, Brian Stockbridge and Craig Mather are largely to blame for. "There is obviously an opportunity to have contracts terminated," said King. "We have to make some fairly significant changes to the footballing side. But before that it is critical that we get the right manager in because we are bringing a manager into a team that is obviously not equipped to compete in the Premier League and is really struggling. "You would have thought that when Rangers were demoted they would have fairly comfortably come through the lower leagues into the Premiership and then maybe struggled for a season or two. "But right now we are struggling to get out of the Championship. Given the need to balance budgets and just be more sensible about the way the money is spent, we are going to have to get a manager who has the capacity to identify and manage players. "So I would imagine that the single most important decision will be identifying the right manager, who has all of these qualities. It really is someone who is more of a coach." King revealed he would be willing to pay compensation to another club for their manager if the best candidate they identify is in employment. He said: "If it was within reason, then paying compensation would be considered. I think everyone would accept that Rangers have to completely rebuild the squad. So the manager's role is so critical. "One wouldn't easily take the second choice when a little bit of money would have got you your first choice. I think we have just got to get it right. There's too much money being spent around it that is key to that individual to not get that appointment right." McCoist is currently on gardening leave while he serves out his 12-month notice period and could theoretically return in some capacity if King, Paul Murray and John Gilligan are appointed directors. But King said: "My understanding is that Ally has expressed no interest in coming back even with regime change. The indications I've had from those who have spoken to him more recently than I have is that he thinks he is done and he really doesn't see himself as part of the future." John Greig, Sandy Jardine and Walter Smith have all worked behind the scenes at Ibrox in a number of different roles in recent years and King would like to see a return to the days when Rangers men were involved in the running of the club. Greig declined to take to the pitch along with the other members of the European Cup-Winners' Cup winning team when the Govan Stand was renamed in honour of his former team-mate Jardine back in August. King said: "For me personally somebody like John Greig would be very important. I spoke to John when I was over here in November - just phoned him up and asked him how he was doing. "There are individuals who are not welcome - because they are not supportive of the existing regime. But what we would like to do is connect with the past. "Despite the difficult times, the history hasn't been lost. We already have Richard Gough showing support and to have people like John Grieg and Graeme Souness is going to be very, very important." The Glasgow-born financier, who once ploughed £20 million of his personal fortune into his boyhood heroes, is hopeful there will be no nasty surprises lurking in the books if he does take over. He said: "I think the circumstances of the club are such that there is a limit to how bad it can be. I can't imagine there will be a huge amount of creditors building up. I can't imagine that anyone has been lending money that we don't know about. "The stadium we know hasn't been used as security. "So while I think there will be some surprises, I think they might run into a couple of million, I don't think we are going to find a hole of £15 million to £20 million."
-
Hi chaps and chapesses. Didn't get to see the game on Sunday due to TV not showing it here but after being out of touch for a long time how far away are we from the supposed measuring stick? TBH a 2-0 defeat is more than I would have expected. What is more gutting is that they are certainly no great shakes and if we had been managed rightly on our so called journey we could and should have won this and been a match for them. As such, anyone who was there can let me know far behind are we? And if we get promotion via the plays off this season where are we on par with the other sides.
-
FOREWORD: The author would like to thank the author of The Football Tax Havens Blog for the provision of some of the information used in this article. There is one thing I can say with some certainty regarding the HMRC enquiry into Rangers Football Club and that is that it has left a legacy of confusion, contradiction, misdirection ( some of which may either be deliberate or as a consequence of gross negligence) and of course, last but not least, accusation. The fact that some of the key players involved in the whole process now face criminal prosecution should confirm, for even the casual onlooker, that all has not been above board. Allow me to illustrate courtesy of these two links, which contain contradictory information, but nonetheless, were written in good faith by the respective authors. http://sport.stv.tv/blog/203241-rang...ions-answered/ http://www.accountancyage.com/aa/new...kets-by-gbp73m The former link written by Mike Farrell for STV attributes HMRC as the largest single creditor at the time of rejection of the CVA whilst the second link written by Rachael Singh for AccountancyAge suggests at the time HMRC vetoed the proposed the CVA they were in fact the second largest single creditor. What we do know is that at some point Duff & Phelps added the outstanding potential estimated liability regarding EBT’s to the overall bill due to HMRC. A potential bill which never came to fruition due to the rulings of various Tax Tribunals in favour of Rangers. What is both concerning and alarming is that such “confusion” appears to extend to high level executives within HMRC itself as this Public Accounts Committee Q & A demonstrates. http://data.parliament.uk/writtenevi...ral/11443.html In question 54/55, tendered by Anne McGuire MP, Mr Jim Harra – Director General Business Tax HMRC, moves to correct Ms McGuire regarding her apparent “misapprehension” by responding as follows: “It has been in the media. This dispute on employee benefit trusts was not the reason why Rangers went into liquidation. It was for non-payment of their standard pay-as-you-earn and VAT obligations.” No Mr Harra that is not entirely accurate either. That is the reason that Rangers went into administration. The reason Rangers went into liquidation is because, as either the primary or secondary creditor, HMRC the organisation you represent, vetoed the proposal for a CVA. It is really asking too much of HMRC officials, particularly high ranking ones to provide accurate information in response to questions from Members of Parliament who sit on a Public Accounts Committee? Furthermore, just to add some added spice to this bubbling pot of confusion and accusation, the reasons for such refusal are themselves subject to considerable speculation. http://www.eveningtimes.co.uk/news/q...0639n.24716091 http://www.heraldscotland.com/news/h...probe.24725771 In the questions aforementioned Ms McGuire also raises the subject of pre-litigation settlement. It is perhaps worth highlighting at this point that Rangers were not the first football club to fall foul of HMRC. In 2005 during Ray Parlour’s divorce proceedings it was revealed that during season 2000/01 Parlour paid tax at a rate of only 22% courtesy of an off shore benefit trust operated by Arsenal. HMRC reacted to this information billing Arsenal for £12 million which they settled in full. While the differing circumstances of each case make a side by side comparison impractical, it does raise the question of why HMRC waited 5 years to pursue Rangers in respect of an EBT payment scheme previously declared in annual accounts) Returning to the subject of settlement Mr Harra responds: “In terms of when we decide to litigate, we have a published litigation and settlements strategy that states we will settle only for what we believe we are due under the law. If we believe that we have a greater than evens chance of getting more by litigating than what we can get by settling, generally speaking that is what we will do: we will litigate. We are proud of the success record that we have in litigation. In avoidance cases, we win about 80% of all the cases that we litigate, but that does mean we are not successful in 20% of them. We are disappointed by the upper-tier tribunal decision in the Rangers case. It is still something that can be the subject of appeal, so I cannot go into too much detail about the litigation itself, but, as I said, we have a very good track record and we may not have reached the end of the line on this one.” Of course such litigation is at public taxpayer’s expense. Perhaps Ms McGuire would care to ask HMRC at the next Q & A why a government agency whose remit is to bring people to account for failing to keep meticulous financial records, cannot themselves keep accurate records with regard to their own operating costs. http://www.heraldscotland.com/news/h...-case.26228807 So in summary we have HMRC continuing to pursue Rangers FC (Oldco) at public expense, having refused an offer of an earlier settlement, in the belief they will be “getting more by litigating than we can by settling” despite the fact HMRC themselves forced the company they are pursuing into liquidation. Perhaps Ms McGuire would care to ask what financial settlement HMRC hope to achieve from a liquidated company. The more you add up the sums the less it makes logical or financial sense, in fact it only serves to add credibility to the accusation that HMRC’s rejection of a CVA was to ensure an investigation into Rangers directors and owners. If the circumstances aforesaid have caused you to utter the words “scandalous” then you may want to re-think your choice of words. In the Rangers Tax Case HMRC considered that the appointment of EBT funds on to a sub-fund or sub-trust for the benefit of a particular employee and/or their family gave rise to a PAYE charge. HMRC were also of the opinion that loans provided from these sub-funds were not loans, but were akin to a bonus available without any chance of repayment and, therefore, again subject to PAYE. What lifts this above even “scandalous” is such arguments have been challenged unsuccessfully before in the cases of Dextra Accessories ([2005] STC 1111) and Sempra Metals ([2007] STC 1559), yet HMRC continue to put forward this argument, at the tax payers expense of course Sometimes “scandalous” is just not enough.
-
In days of old when football was football and only a few anoraks could tell you the names of the club board, the idea of an Old Firm game playing a supporting role in a day of sport would have the wee men in white coats heading in your direction. However that is how I am viewing this Sunday's mouth-watering line-up, and it is a sign of how much trouble our beloved club is in that it has come to this at all. The reality of a league cup semi final against our greatest rivals at Hampden would normally have me all fired up for weeks, and I cannot remember ever going into a domestic semi-final or final without the confidence that our heroes will emerge victorious. Indeed in any other time I would be eyeing up this fixture as the first course in another possible treble, and at the very least the chance to deny that other mob their chance of a treble. This Sunday we have the England v Australia ODI cricket final from Perth, WA, which starts in the wee small hours of Sunday morning. While England will be rightfully underdogs against the home team, this cricketing equivalent of an OF match will have plenty of spice and aggression and entertainment. At the time where that match is reaching boiling point, we then move to Melbourne for the Australian Open tennis final between our own Andy Murray and (probably) Novak Djokovic. These two have played 4 Grand Slam finals between them, each winning two each, and this could be an absolute belter of a match and one I am looking forward to immensely. Of course if Stan Wawrinka wins the SF (at time of writing it is a close match in the 4th set) it pits the defending champion against Murray, who has reached the Oz Open on 3 previous occassions, only to come up short each time against Djokovic and Federer. Then we have the football with our own match at 1.30, and a potentially attractive match between two good footballing sides in Southampton and Swansea at 4pm, and a double header from Spain involving Sevilla v Espanyol & a good looking clash between Barca & 6th placed Villarreal. By the time we have all had our football fix for the day, the biggest sporting event in the USA takes over with the Superbowl, this year between the New England Patriots and the Seattle Seahawks in what promises to be a clash between the best attacking (or offense in USA lingo) team (New England) and the best defence (Seattle), with all the razzmatazz and colour this event brings. When the Vince Lombardi trophy is handed out around 3am, it will signal the end of a near 24 hours of non-stop sporting action for tv viewers, with 3 cup finals, a semi-final, and some good league action along the way. I for one cant wait for it all to start, and I just hope above all hope that what would, in any other era, be the main event for me at 1.30 in the south side of my home town amongst these global events attracting the best part of a billion viewers, and is on Sunday a bit part story, doesnt spoil this day of all sporting days. So come on England, Murray, Rangers for a treble that would have me positively gushing and have me remembering the 1st of February 2015 as a unique day when all that is good with the world was put right. -
Rangers International Football Club plc - Is it breaching the Companies Act? Is its Nomad a cretin or worse? http://www.shareprophets.com/views/10306/rangers-international-football-club-plc-is-it-breaching-the-companies-act-is-its-nomad-a-cretin-or-worse -
http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=1961&newsCategoryID=3&newsID=14129
-
Statement from the bears due at 6pm (approx) keep the faith guys please, from FF
-
Been trying to get my head round things for a while now..... Exactly what influence does Mike Ashley have over the current board??? Recently, we have seen investment proposals from King, Sarver & 3Bears all knocked back in favour of offerings from MA, which have been very heavily weighted in favour of the lender. What interest does MA have in the club??? Personally I think he wants to control the merchandise. However, if he turns the fans against him (as he has), no-one will buy the stuff he's selling, so where's the benefit??? MA has been told that he can't own any more shares by the SFA, therefore he can't invest directly into the club. Any money will come in the way of loans, therefore increasing debt - debt that will be more difficult to repay since SD now control 75% of the retail channel. Couple that with the reduced attendance etc & cash flow is severely impacted. Has MA been the one really pulling the strings all along??? Was he the main force behind Chuckles?? Could he be the Easdales true puppet-master??? To me nothing about MA's involvement makes sense. He is a very successful businessman - no-one can argue that - but the way things are being run @ Rangers, it's as if people want it to fail!!! The Board etc appear to be trying their best to drive the fans/customers away.
-
Betting been suspended by Paddy Power Magath.
-
http://www.rangers.co.uk/images/FansBoard/Minutes/RFB_Minutes_080115.pdf
-
This whole crew are the worst thing that has ever happened to Rangers. -
The Union of Fans is calling on Rangers fans to stage a "mass demonstration" outside Ibrox 45 minutes before kick-off tomorrow night.
-
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218547.html
-
THERE was a rare moment of unity between Rangers fans groups and the Scottish Football Association when the governing body blocked Mike Ashley’s proposals to increase his stake in the club last month. Then, a Union of Fans statement spoke of the SFA having “done the right thing” in observing their rules on dual ownership by refusing to approve the Newcastle United owner’s bid to increase his Rangers stake from around 9 per cent to 29 per cent. Yet, those same supporters are unlikely to be so taken by the SFA obeying their articles of association should Dave King succeed in his mission to oust the current board. King revealed his intentions on Friday night when he requisitioned an extraordinary general meeting (egm). The South Africa-based businessman, Rangers’ largest single shareholder with a 16 per cent stake, is “confident” he can muster the 50 per cent shareholder support he needs to remove chairman David Somers, James Easdale, Derek Llambias and Barry Leach from their directorship. His plan is to replace them with himself, Paul Murray and John Gilligan. And therein lies the rub. At an egm, which the current Rangers board could stall for six weeks, King could expect the support of the 20 per cent stake controlled by the Donald Park, George Letham and George Taylor consortium. In addition, he is believed to have the ear of a couple of the hedge funds with a 10 per cent holding between them, while individual supporters whose share totals add up to a further 10 per cent would back his efforts to put the Ibrox club into the hands of supporters. That is all well and good, and Ashley deserves to be removed because of his callous disregard for the club and its followers in this week’s moves to gain security over Ibrox and Murray Park. The current board maintain this was in return for the £10 million loan Rangers need to see out the season. But it is important to look beyond Ashley’s game-playing and not forget how we arrived at this point. In the independent inquiry chaired by Lord Nimmo Smith under the auspices of the SFA, the old board were criticised for failing to blow the whistle on Craig Whyte as he sent the club on the road to ruin after taking over in May 2011. King was a member of that board. And it cannot be forgotten either that the reason King was in no position to buy the assets once the old Rangers had been condemned to liquidation the following summer, and save it from the clutches of Charles Green, was that the Castlemilk-born businessman was then in the midst of a decade-long legal battle with the South African Revenue Service. He settled last year by pleading guilty to 42 criminal counts of contravening the country’s tax laws, and kept himself out of prison by plea bargaining on almost 300 other charges, which required him to stump up £41m. As far as failing to meet the SFA’s fit and proper person test, King – who lost £20m he invested in the David Murray Rangers era – does so with bells on. Indeed, it is almost as if the ruling has been written to debar individuals with chequered business careers of King’s ilk. Under section (h) of Article 10.2 that sets out the “considerations” that would be made concerning the board “reserving its discretion” as to whether a person is deemed fit and proper to hold a football directorship, it is stated “[if] he has been convicted within the last ten years of (i) an offence liable to imprisonment of two years or over, (ii) corruption or (iii) fraud.” King was liable for a stretch longer than two years had he not plea-bargained. Moreover, he is caught in a double bind over the fit and proper person rules. Because what also counts against those seeking to meet the criteria is having “been a director of a club in membership of any National Association within the five-year period preceding such club having undergone an insolvency event”. King and Paul Murray – who was sacked from the Rangers board immediately after Whyte took over – both fall down on this basis. They simply cannot be granted permission by the SFA to take up directorships in any Rangers board if the governing body stands by their own rules, which were tightened up because they had failed to act over Whyte’s dubious business past. King constantly puts it out through sympathetic media sources that he is confident the SFA professional game board would wave him through as a Rangers director in the event of gaining a controlling interest. That sounds like bluster, which, as well as the baggage, has led to legitimate questioning of King’s credentials to lead Rangers out of the mire. At times, though, it must be said he talks a good game. As he did in his statement on Friday in which he claimed that, as well as putting the club on a sound financial footing, a second “important task” would be “to conduct a forensic audit of the management and commercial contracts undertaken over the last few years to determine whether they are truly arm’s length and whether the affairs of the company have been pursued in accordance with the fiduciary obligations of those entrusted with that responsibility”. King thundered at the end of this declaration of intent that “any malfeasance will be pursued aggressively and transparently”. For the South African tax authorities, that might read like a sick joke. http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-dave-king-s-move-faces-taxing-questions-1-3664643
-
Radio Scotland - McLaughlin. Also conjecture that Ashlay will sell to ParkCo.
-
Great day for the Rangers first schemem , now sitting at over 2170 members , superb , hopefully this is just the start , I know there is an off line campaign starting soon which has been funded by separate donations.
-
-
They're worried, make no mistake about it, not one single positive thing in Merlin's latest propaganda, which fills me with yet more confidence for our future - Transparency Required January 1, 2015 / billmcmurdo The remarks of Colin Kingsnorth upon Laxey’s sale of their shareholding in RIFC do not bode well for the future of the club. Kingsnorth seems to have a personal issue with Mike Ashley and hopes that the group he sold to will ramp up the opposition to Ashley in their new position as shareholders. With these intemperate comments, Kingsnorth has thrown petrol on an already ravaging fire and possibly kicked off a whole new era of turmoil at the club. Ashley’s position as Rangers’ major creditor, coupled with his having Derek Llambias in place, means that he still wields considerable power in the Ibrox boardroom, despite having a lesser shareholding than the Three Amigos. The problem for Rangers fans is what happens if the incoming group decides to go to war with the other factions for control of the club. This would make the boardroom battles of recent times look like an infant spat. If Ashley decides to fight for control of Rangers then things could get very nasty indeed. The Amigos as predicted took advantage of the plummeting price of Rangers’ shares to secure their stake. This has left a bitter taste in the mouth of many Rangers supporters considering it is the actions of those activist groups like the UoF and SoS who support Amigoco that have driven the share price down. It also doesn’t help that Taylor, Letham and Park have bought shares from an existing shareholder and that the monies do not go directly toward the club at a time when RFC is screaming for income. Let’s be fair – if people like Mike Ashley can be criticised for buying shares this way, so can the Amigos. Good for the goose, good for the gander and all that. There are also many fans who question the concept of chasing away a billionaire for people whose combined net worth comes nowhere close to his. The possibility that further bitter infighting could rip Rangers apart cannot be discounted. Imagine, for example, if Mike Ashley chose to take on the pointless rules of the SFA regarding his own shareholding with the Three Amigos supporting the SFA and conspiring against Ashley. An unthinkable prospect as there isn’t a Rangers fan alive who thinks that the SFA will act in Rangers’ best interests. Questions must be asked of the new shareholders – again, in the interests of parity with Ashley. Some of mine would be:- What are their plans – if they have any – to help raise revenues in the future? Short, mid and longer term would be great. What are their intentions in respect of control of the club? Do they intend to oust other factions and wrest control? What are their plans for the management, coaching and playing side of the club? How do they intend to take on the club’s many detractors in the media and elsewhere? These are broad stroke questions but more pointed ones would be how would they propose to deal with the present gardening leave situation of the manager and who specifically do they want on the board? It would also help if we could get a definite answer on whether or not George Letham is on the RST board. All in the interests of transparency, of course. The new shareholders will surely be willing to have exacted upon them the same demands for transparency and openness they expected of others. Mile Ashley’s seeming reticence to share his own plans has not served him well and only breeds suspicion. The Three Amigos would do well to heed this because they can definitely expect to be grilled repeatedly should they fail to be transparent in their own dealings. After all, we have been taught to expect much better from real Rangers men… -
BRENTFORD are ready to spark a January transfer scramble for Rangers star Lewis Macleod. SunSport understands the Championship side are poised to make a £1million move for the Ibrox kid. And that could see a host of English clubs enter the bidding for the Scotland squad member. Macleod has caught the eye of Championship promotion hopefuls Bees. Rangers legend David Weir is No 2 there and is fully aware of the 20-year-old’s potential. But several other English clubs, including Premier League strugglers Burnley, are keen on the midfielder. Blackburn were also set to make a bid before being hit with a transfer ban.
-
BBCBMcLauchlin @BBCBMcLauchlin 1m1 minute ago George Letham, George Taylor and Douglas Park offer Rangers £6.5million alternative to Mike Ashley investment#bbcsportscot -
As posted on FF: "Sons of Struth have received information that in return for the naming rights deal Sports Direct now own the shirt sponsorship rights when the 32red deal expires, this deal has in practice cost Sports direct £1. Sports Direct can do two things now, the can become our shirts sponsor for £1 or they can sell the rights to another sponsor and they they will receive the money Our board have now handed away yet another income stream to mike Ashley for no financial advantage to our club He now owns our shirt sponsorship for a quid, our shops, our merchandise, our carpark, our edmiston house which was paid for by fans via Rangers Pools, almost half the adverts at ibrox (no one knows how much if anything was paid for these0 and he attempted to own our badge and crest and we still have no answer from the board if this has actually happened I dont think his shops run BOGOF offers but it appears he managed to get one when he bought his original shares, I wonder why and more on that as we clarify it. Most fans would consider his involvement only occurred after admin, you are wrong, more on that to follow soon also......... Craig" -
19 December Rangers International Football Club plc ("Rangers" or the "Company") Appointment of Chief Executive Officer Existing Board member Derek Llambias has been appointed Chief Executive Officer of Rangers with immediate effect. Derek joined the Board on 2 November 2014 as a non-executive director. In line with the cost cutting exercise announced on 12 November 2014, Mr Llambias's remuneration will be significantly lower than previously offered for this position. Additionally, David Somers will now revert to his previous role as non-executive Chairman. Commenting on the appointment, David Somers said "I am delighted that Derek has agreed to step up to the Chief Executive role. This is a successful outcome to the process, announced on 27 October 2014, which involved interviewing a number of high calibre candidates. Derek has impressed us with his grasp of the issues since joining the group and brings a wealth of experience, particularly from his time at Newcastle United, which we feel confident will be invaluable to Rangers. ************** " which involved interviewing a number of high calibre candidates" Did it f@ck.
-
Right he is going and as a manager the record books may show two titles but on the whole in my opinion he has been a dud totally inept when it comes to tactics if he ever had any . But what about him as a player he went to England never happened maybe to young well never know because he came to rangers had a sticky start but was luck to be in at the start of the souness revolution were he played at the top end of a very good team he was very fortunate to be playing in front of some great half backs , good wingers giving him first class service and I am not knocking him in this aspect but I often wonder how many goals lets say jimmy millar , jim forrest , ralph brand or even big dandy would have scored playing in front of the souness/smith players .
-
Grant Russell @STVGrant · now 19 seconds ago Not announced to stock exchange yet but Rangers International Football Club plc yesterday appointed Matthew Wood as their secretary. Grant Russell @STVGrant · now 16 seconds ago Matthew Wood, 41, is the managing director and owner of CMS Advisory Group, a “one stop shop service for companies corporate advisory". Grant Russell @STVGrant · now 4 seconds ago Matthew Wood is also FD of two other companies, and non-exec director of Westminster Group plc & Dynamis Plc.
