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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."
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http://www.gersnet.co.uk/index.php/latest-news/309-seconds-out-dave-king-v-mike-ashley-the-big-fight-continues Ding Ding! As the bell rings out for another round of a fight that appears to have been ongoing for at least two years, one can’t help shake the feeling we’re now reaching the closing stages of this ceaseless contest. With Mike Ashley now having played all his secured loan cards and Dave King finally putting his money where his mouth is, surely the next three weeks will see this hitherto open-ended bout be won by one or the other? Certainly an EGM in early March looks as if it will, for the short term at least, decide the winner. In the Blue corner we have Dave King: a Rangers fan, wealthy South African businessman and carrying the backing of other high net worth ‘Rangers minded’ individuals (as well as the main fan groups) on his side. In the Red corner, sits the heavyweight Mike Ashley: an admired billionaire entrepreneur, a no-nonsense negotiator and with the advantage of having his backers already directly involved with the club. It would take a brave man to try and separate these successful prize-fighters. But with no knock-out blow in sight, the decision will be made by the three judges: Mr AIM from Fit-and-Proper Street, London; Mr Regan from Puppet Place, Hampden; and thousands of Rangers shareholders – all of whom have their own specific interest in this bout. Who will prevail? Certainly, the press conference of Dave King yesterday was one of a confident man. Open, transparent, knowledgeable and with just the right amount of sincerity; there weren’t many Rangers fans complaining about his performance. Yes, many of us have held doubts over King’s less than impressive historic ownership efforts but in recent times, he has clearly upped his game. Firstly by buying shares himself, secondly by cleverly (apparently) working in tandem (though not concert) with other financially independent bears and, finally, unlike Ashley’s camp, coming to Scotland to show he’s not afraid of meeting the media (and his critics) on their terms. No-one can deny today’s subsequent press coverage is impressive. However, while some may swoon at the promises he makes; his opponents (plural) will not. To begin with, Mike Ashley has not made his fortune through weakness. Throughout his business career, he’s faced many a negative period. From risky investments losing their worth, to media and political pressure on his activities; despite his success and contribution to British business, Ashley has never been an immediately popular figure. Not amongst his peers, not amongst Newcastle supporters and certainly not revered by Rangers fans. As such, while Dave King’s poise yesterday may have impressed you or me, Ashley will be equally assured in his position and determined to defend his Rangers interests. Dave King may feel the EGM is already won but there will be no throwing in of the towel by Ashley – that’s for sure. Indeed, if we delve deeper into King’s comments, although he spoke of an ‘indifference’ to Ashley’s involvement and tried to play down the significance of the Englishman’s stake in Rangers, there was tentative evidence of an olive branch being offered. Yes, King may not want to do a boardroom deal ahead of next month’s general meeting but there has to be (and appeared to be) an acknowledgement Rangers’ ties to Ashley won’t be so easily cut. In that sense, it’s interesting to note that King (on the face of it at least) hasn’t written off working with him in the future. And why would he? After all, in many ways they’re kindred spirits. Both are less than popular with the SFA, both are less than popular with the Establishment and both are as stubborn as business people can get. Perhaps (probably?) that obdurateness may mean an obvious partnership is impossible but a short-to-medium term truce may well benefit both them and the club going forward. I can’t be the only Rangers fan intrigued in that possibility. I’d also imagine investors – both at supporter and institutional level may be attracted to such. In point of fact, it’s that very attraction that will prove key to Rangers going forward. Not only do we need the investment King and his associated are offering but we need share issues, contracts and external agreements to ensure the club is financially viable. Most importantly, we need an engaged fan-base; not just in terms of buying season tickets at pre-2014/15 levels or ordering various pieces of merchandise but via actual investment in the club – both emotionally and objectively as part of an increased say for supporters. Recent years have shown us how important it is for fans to be involved in the decision-making process and recent months has seen an agreeable upsurge in regard for fan/share ownership schemes. If we juxtapose that with events at Hearts and Motherwell then fan ownership in conjunction with philanthropic, affluent supporters is now a very real possibility. Further, if we consider the problems the Scottish game faces with its rapidly decreasing reputation and sponsorship reputation some would argue it will be a necessity. Ergo, the quicker we and all involved with the club realise that, the better. We need not be ever-reliant on bank loans, unfavourable contracts and greedy players – let’s now belatedly take the opportunity to build a sustainable club with its foundations built in the Govan community and beyond. Yes, this wouldn’t happen overnight and Paul Murray is correct to caution us in that regard. However, nurturing the seed of something better, more durable and more resilient is surely something worth waiting for. With that in mind, the coming weeks and months shouldn’t just be about cheering Dave King, Mike Ashley or anyone else to victory in their efforts. Yes, one or both or none may be worth backing at some point but the truth is, in the fight for Rangers’ future, it is the club and the fans that have been on the ropes and punch drunk for almost four years now. Therefore, it’s now time for us to take control of our own destiny and we have to realise we have the strongest punch when it comes to the future. We just need to use that power wisely. The rumoured March 6th EGM will be our first test. However, the fight will go on and we must take ownership of our own fate. Let’s get ready to rumble. -
THE nine-in-a-row skipper never shirked a challenge as a player and refused to hold back on his assessment on the players who are following in his footsteps. RICHARD GOUGH has labelled the current Rangers team the worst in history and fears for the very existence of the club if Dave King fails to gain control. The nine-in-a-row skipper never shirked a challenge as a player and refused to hold back on his assessment on the players who are following in his footsteps. His comments will make uncomfortable reading for close pal Ally McCoist, who has assembled the current group, although Gough suggested their shortcomings are being exposed by chaos behind the scenes as much as their own professional limitations. Gough’s emotions were split between pride and dismay when he heard Rangers fans bellow their defiance as the team went down 2-0 to Celtic at Hampden in the League Cup semi-final. He reckons two decades ago they would have booed him and his team-mates off the park – and rightly so – had they gone down so tamely to their arch rivals. However, Celtic fans shouldn’t take too much comfort from Gough’s assessment as he reckons Ronny Deila’s current charges might just also be the worst Hoops side he has ever seen. Gough, a close pal of King, said: “We are bang in trouble if Dave doesn’t win the day. “I would fear for the club. In a lot of ways, it is the last chance to save it. I might be completely wrong but I just look at the evidence of the last three or four years and it’s getting worse. “I’ve watched Rangers since the late seventies and I know about the teams before then from my father and grandfather. This team at the moment is probably the worst Rangers team that’s ever played for the club. “It’s not their fault, it’s the circumstances at the club. It could also be the worst Celtic team I’ve ever seen, to be fair. That’s the standard right now. “I didn’t go to Hampden on Sunday. I didn’t want to. But what struck me from watching on TV was the Rangers support. They were unbelievable because they were watching a poor team being completely outplayed by Celtic, who were far better in every position. However, the Rangers fans remained very vocal in their support. That saddened me in a way because I knew if that had been our team who had been 2-0 down and were being played off the park by Celtic, we would have been hammered. The support would have walked out. “However, the supporters know the current team doesn’t have the necessary quality. I just hope Dave can gain control because it will be better for those supporters again. “It’s going to be a long process, it’s not going to be a quick fix. What has happened in the last three years had drained the resources. By all accounts, Murray Park and Ibrox need £10million spent on them. “It will take a while to get the club back to how it should be. If Dave gets in and the Three Bears also invest, the club will be able to get other money from elsewhere, maybe from investors such as Robert Sarver. “For now, the worry is that the current team might not even get into the Premiership next season. I’ve watched every game and it looks as if Hearts will win the Championship. It’s not even a given Rangers would get through a play-off against Hibs.” Gough has not ruled out a return to Rangers if King takes control and decides his skills can be utilised in and around Murray Park, but for now he is happy to play a supporting role to the Johannesburg-based tycoon, a long time family friend. He also insists the SFA have been harsh enough on Rangers these last few years without denying King the opportunity to take up a position as director under their ‘fit and proper person’ guidelines. He added: “I would help the club in any way possible. If Dave wanted me to do something, I would do it. I just really hope he wins the day at the general meeting, then let’s take it from there. “The SFA should not put any blocks on Dave’s involvement. When I look at the SFA, I wonder if they could have done more to protect Rangers who, after all, are one of their main assets. “Rangers in the Third Division has had a huge effect on Scottish football over the last three years. “When Dave asked me to back him a while back, I thought it was the right thing to do. It’s pretty evident, with what has happened since then, that it is the right thing. “Dave and the people on board with him all have Rangers at heart. It’s pretty evident the people who have been in charge for the last few years have not been in it for Rangers. “The club is in as bad a state as I’ve ever seen it. “I’m not sure the supporters actually know how bad it is. It has changed, it’s unrecognisable from what it was 10 years ago.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-team-worst-history-ibrox-5114172 -
http://www.dailyrecord.co.uk/sport/football/rangers-boardroom-battle-dave-king-5100588 DAVE KING will outline his vision for the future tomorrow as the Battle for the Blue Room gathers pace. King has called a press conference in Glasgow city centre where he is set to confront the challenges facing the club, now under the grip of Sports Direct tycoon Mike Ashley.
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WOULD-BE Rangers saviour Dave King held court in Glasgow earlier today as he outlined his vision for the future of the crisis club. He sat alongside John Gilligan and Paul Murray, the men he hopes will join him on a new-look Rangers board before the end of the month. King is convinced he has won more than 50 per cent shareholder approval to remove the current incumbents, with Rangers expected to confirm the date of the general meeting by Friday. King, Murray and Gilligan answered questions for an hour from daily newspaper reporters at the offices of PR company Level Five. We publish part one of the full question and answer session below - all 4,000 words of it. Are you going to win the EGM? Dave King: “Yes. We have enough support. I am absolutely certain we have more than 50 percent even if every single shareholder votes, which is unlikely. We are well over 50 percent. We will win.” There has been a history of flip-flopping by institutional investors – are you certain there are no surprises coming? DK: “It has happened previously. Well, in some senses it has and it hasn't. Previously - and Paul (Murray) may be better able to answer than me because he was more directly involved - you can get a sense from institutional investors they are supporting you and then you interpret that as they will vote for you. However, when it comes to the vote their view is: ‘we’re not active supporters therefore we’re not voting, so we’re kinda with you intellectually and mentally and we agree with you but we’re not willing to vote’. “That has been taken out of the mix. The key event was the removal, the very non-strategic removal, by the board or the powers-that-be behind the board, of Norman Crighton. That was the single biggest tactical error that the board made because once he was gone the institutions said: ‘Look, that’s enough now, this is not being run on a proper basis’. That was the basis for the Three Bears being able to acquire their shares from Laxey and it was the basis for me acquiring shares. That became a turning point and if you look at it now, really other than River & Mercantile there is no real institution in there. So I feel very, very strong and solid about the current shareholder mix. If that hadn't happened I would have been in the same situation perhaps Paul was in (previously), where I certainly wouldn't have called the meeting with the same level of confidence.” No date has been called yet, do you expect them to stall or trip you up? DK: “I don’t expect it. It could still happen. The reason I don’t expect is that they have had almost 21 days and if there were any concerns about the technical aspect, whether the Is were dotted and the Ts were crossed, I would have thought I would have had some communication by now. It’s almost three weeks. I have had no indication of the board at all that there are any concerns with the requisition itself, therefore I expect that by the deadline on Friday they will announce the general meeting. “I have had no communication in fact whatsoever, directly or indirectly, with any of the board members at all since the requisition. There was just a request from (NOMAD) Paul Shackleton yesterday. He phoned me, and he asked if I was willing to negotiate a compromise and he made an attempt to suggest what he thought might be a way forward without calling a general meeting. But the alternative was far from being acceptable.” What was his compromise? DK: “It was about the existing four directors remaining and me getting a couple of appointments and a couple of independents, and ‘given that Llambias and Leach are really independents the board would be balanced’. It was really, quite frankly, a nonsense, a nonsense suggestion. It would just have created further impasse. We have had enough uncertainty I think. We really have to go forward with a different structure.” Did that phone call indicate they are hugely concerned? DK: “Well yeah. I said: ‘Look if you want to save the money you know what to do to save money. You have had long enough to look at the shareholders’ register, you know you’re going to lose, therefore I think the right thing for the board to do is make the appointments and resign, that’s the way to save the money, we don’t have to have the general meeting where it will cost £50,000-£60,000-£70,000, whatever, that’s money the club doesn't have to spend and the outcome I believe is a foregone conclusion’. So that is what I would hope they would do on Friday. I would be surprised if they would do it but I think it could be a responsible thing to do.” http://www.dailyrecord.co.uk/sport/football/football-news/part-one-every-question-every-5106662
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...ahead of much-anticipated Ibrox EGM 07:42, 1 February 2015 By Scott McDermott KING landed in Glasgow last night as he attempts to galvanise support ahead of the EGM but the former Rangers director won't be at Hampden for the League Cup semi-final against Celtic. DAVE KING jetted into Glasgow last night – but WON’T attend Rangers’ League Cup clash with Celtic at Hampden today. The former Ibrox director flew in from South Africa and will spend a week in the UK to galvanise support ahead of the much-anticipated Ibrox EGM. King will attempt to convince the club’s shareholders in Scotland as well as its investors in London to back his bid to remove the current Ibrox regime. The Rangers board have until Friday to announce a date for the EGM. King believes he can gain 51 per cent of votes to eject chairman David Somers, chief executive Derek Llambias, finance director Barry Leach and James Easdale from the top of the marble staircase. King’s wants himself, ex-director Paul Murray and former brewery boss John Gilligan to take over. And he’s hoping his latest visit will ensure his group – along with the Three Bears consortium headed by motor mogul Douglas Park and the Ibrox fans – have the required support. MailSport understands that King will decline the chance to be at Hampden for this afternoon’s Old Firm derby. http://www.dailyrecord.co.uk/sport/football/football-news/battle-rangers-steps-up-dave-5082369
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We are f----d. 27 January 2015 Rangers International Football Club plc ("Rangers" or the "Company") £10m Credit Facility and associated transfer of 26% of Rangers Retail Limited The Board of Rangers announces that Rangers Football Club Limited ("the Club") has entered in to agreements with independent.co.uk/news/business/news/sports-direct-stops-20000-staff-taking-other-work-by-using-zero-hour-contracts-9661746.html Retail Limited and associated companies ("SD"), to provide a long term on-going credit facility of up to £10m (the "Facility"). The Company's financial condition has been perilous for a number of months exacerbated by lower than expected match attendances. The Directors have implemented a cost cutting program with which they have made significant progress. There is however an immediate need for a substantial injection of capital, and the Directors have considered a number of options. The terms negotiated with SD (which are reversible in respect of the Facility) represent the optimum combination of quantum and duration of funding, allowing the Company time to arrange permanent capital which can be used for strengthening the playing squad. The Facility is structured in two separate interest free tranches. GBP 5million will be available immediately for working capital purposes and for the repayment of the credit facilities with MASH Holdings Limited which was entered into on 27 October 2014. All rights and security associated with the MASH facility will be cancelled. The Club will transfer 26% of the share capital in Rangers Retail Limited ("RRL") to SD for the duration of the Facility (the "Transfer"), which will be transferred back, at no cost, upon repayment of all outstanding sums owed by Rangers and its subsidiaries to SD. There is no specified repayment period for the first tranche of the Facility. The Facility is to be secured by (1) a floating charge over the Club's assets and (2) fixed charges over Murray Park, Edmiston House, Albion Car Park, and the Club's registered trademarks. None of the security that is being given to SD covers Ibrox Stadium, which is specifically excluded and remains in the full ownership of the Club, free from any security. SD will also have the right to nominate two directors to the board of Rangers for the duration of the Facility, any such nomination will be subject to regulatory consent pursuant to the AIM Rules and other regulatory bodies. If the entire sum drawn down is repaid, the Facility will be deemed to be terminated, all security will be released, the 26% of RRL will revert to the Company and all rights of SD to nominate Directors to the Board of the Company will cease. The second tranche of GBP5 million, which repayable 5 years after drawdown, will be used, if required, for working capital purposes and is subject to due diligence by SD prior to drawn down. The Company has also agreed that from the 2017/8 season, for the duration of the Facility, any future shirt sponsorship proceeds will be for the benefit of RRL. RRL will declare a dividend of a total of GBP 1,610,000 prior to the Transfer. The Club will use the proceeds of its share of this dividend, inter alia, to repay sums owing to SD in respect of the cessation of onerous leases on unprofitable stores entered into by a previous Rangers management team. RRL is a joint venture between the Club and SD whose business is selling merchandise both on-line and in stores. In the period ending 27 April 2014, RRL made a profit before tax of GBP 1,172,893. SD is a Related Party under the AIM Rules and accordingly the Facility is a Related Party Transaction pursuant to AIM Rule 13. The Independent Directors, consider, having consulted with WH Ireland its nominated adviser, that the terms of the Facility are fair and reasonable insofar as shareholders of the Company are concerned. The Directors would like to thank all the Rangers Stakeholders who showed an interest in helping the Company. Commenting on the Facility, David Somers said: " The Board has sought for some time to establish a long term funding solution for the Company in order to create a platform of stability to build for the future. This Facility begins this process and we very much hope that it will be augmented with further permanent capital in due course. In addition, the executive team have made strides in addressing the cost base of the Company in order to improve our financial condition and working capital profile. We very much hope that we can now move away from having to seek short term funding solutions and can focus our efforts towards investing in the first team playing squad, a return to profitability and to re-establishing Rangers in the top league in Scottish Football and in due course, to European competition. The Board now calls upon all shareholders to rally together to achieve this goal."
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Statement from the bears due at 6pm (approx) keep the faith guys please, from FF
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If loans are given by Ashley Ibrox will not be used as security -Sky Sports News.
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This whole crew are the worst thing that has ever happened to Rangers. -
Over 481,000 traded today , many small trades but some much bigger , the largest being an 150,000 one
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Looks like they have about the same voting rights as before so just buying off their mates, I think. 20 January 2015 Rangers International Football Club plc ("Rangers" or the "Company") Holdings in Company The Company announces that it was notified on 19th January 2015 that Alexander Easdale purchased 1,014,000 ordinary shares of 1 penny each in the Company ("Ordinary Shares") on 16 January 2015. As a result, Mr Easdale now holds 5, 256,110 Ordinary Shares in the Company, equal to 6.451% of the issued share capital of the Company. Mr Easdale also holds voting rights over, but does not own, a further 16,028,084 Ordinary Shares, representing 19.672% of the Company, meaning that in total he holds voting rights over 21,284,194 Ordinary Shares, representing 26.123% of the issued share capital of the Company.
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... in his ET interview My headline makes for a good signature. If anything, those currently trying to oust the board have learned (the hard way) that the key is in having enough shares. Let#s hope this goes through, Murdoch sounds rather confident and you'd hope King has done this because he IS confident of success. -
DAVE KING today insisted he will easily convince both stock market bosses and football chiefs that he IS fit to run Rangers. The former oldco director has called a general meeting to vote on plans to rout the Ibrox board. He will also ask the shareholders to vote in himself, former Blue Knight Paul Murray and John Gilligan as their replacements. The current regime - David Somers, Derek Llambias, Barry Leach and James Easdale - released a statement to the stock exchange on this morning insisting they would fight King's bid. In a thinly-veiled swipe at the Johannesburg-based businessman, they said: "The AIM rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company." The Castlemilk-born millionaire was forced to hand the South African Revenue Services a cheque for £44million last year in a bid to stave off a tax investigation. SARS claimed he owned £149million but he was spared jail after accepting liability for 41 lesser charges in relation to income tax laws. Both he and Murray will also have to explain their part in the demise of the club after serving on the board under former owner Craig Whyte, who put the club on the path to liquidation in 2012, if they are eventually appointed as part of the SFA’s "fit and proper" person test. But King told PA: "There are no problems regarding the AIM regulations and the issue with the SFA is simple. Only once a director is appointed is an application made to the SFA by the club. "Both myself and Paul will have to deal with our previous directorship at the time that Craig Whyte got involved. Additionally, I will have to deal with my reasons for staying on the board and trying to impose some level of governance during the Whyte era. "I will also deal with my favourable settlement in South Africa. "These are all issues that the SFA rightly has to address in the same way that the SFA has to review the history of anyone who gets involved with a Scottish football team. "That was all considered by me prior to my application - as was the likelihood that the incumbent board will use the media to try to influence the debate by misrepresentation. "The enthusiasm that this board adopts to 'media management' and its failure to act in the interest of shareholders and other stakeholders is exactly why they should be jettisoned in favour of directors who have the requisite business skills and respect for the tradition of Rangers to take the club forward. "History will judge this board as one of the worst the club has ever had. There is not one individual who puts the club above personal interest." King hit back just hours after the board called on him to drop his general meeting and save the cash-strapped club the expense of hosting it. The board's 7am statement added: "If the notice (issued by King) is valid and is not withdrawn, the directors intend to recommend that shareholders vote against the proposed resolutions." In a second statement, the directors conceded they may have to consider using Ibrox as security on a loan - but insisted any decision would not be "taken lightly". Thousands of fans protested against that possibility before Friday night's abandoned clash with Hearts after it was revealed Newcastle owner Ashley was preparing to have his name added to the title deeds of both the stadium and Murray Park as part of a £10million loan arrangement. The Three Bears - wealthy fans Douglas Park, George Letham and George Taylor - had already announced they would increase their own loan offer of £5million - but would not ask for security on the stadium. The board added: "The directors are pursuing bilateral discussions with two parties who are both stakeholders in Rangers. "These discussions contemplate a significant amount of capital being available to the business on a long-term basis in order to enhance the squad which the directors believe is necessary. "A consequence of funding to this level is that, in reality, it may be necessary to use Ibrox stadium as security; such a decision would not be taken lightly. "No decision has been taken at the current time while discussions are being finalised in good faith. "The advance notice does not mean that security will be given, and the directors are adamant that it will not unfairly advantage the party with whom it was agreed. "The board will conclude a transaction, based on its merits, which it believes is in the best interests of shareholders as a whole in accordance with their fiduciary duty." http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-ill-convince-stock-5005483?utm_source=twitterfeed&utm_medium=twitter
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The Union of Fans is calling on Rangers fans to stage a "mass demonstration" outside Ibrox 45 minutes before kick-off tomorrow night.
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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218558.html
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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12218547.html
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Stuart McCall has thrown his support behind the Three Bears, the group owning a near 19 per cent stake in Rangers headed by businessman and Rangers fan Douglas Park. The former Ibrox midfielder has called for Rangers people to be back at the helm of the stricken ship, believing that the departure of legendary figures have left a gaping hole at the heart of the club. “I don’t know any of these gentlemen [the Three Bears], but if you believe what you read, they have Rangers at heart,” said McCall yesterday “I’m not saying that, just because you have Rangers at heart, you are going to be successful and the club is going to make money. But you do know that, whatever they are doing, they are doing it for the right reasons. “They are not in there saying: ‘we can earn this and we can get out’. What you want are people that the club matters to and will do their best for the club, not for themselves as individuals. If it is The Three Bears, if it is Dave King, if it is anyone else, you would rather have people who bother about the club and it’s not just about money-making. “Rangers don’t necessarily need an ex-player as their manager,” he added. “But what they need is someone at the club who doesn’t just have business sense, but is actually doing it for the love of the club – because they’ve got ties to the club.” McCall believes that the departure of three stalwarts who have cut their ties with Rangers – John Greig, Ally McCoist and Walter Smith – sums up the state of the Ibrox club. The Scotland coach was at Ibrox for the abandoned game against Hearts on Friday night in his role as a summariser for BT Sport and watched with anguish afterwards as passions ran high among supporters angered by the board’s conduct. With advanced notices of loan securities against Ibrox and Murray Park having been lodged at the Register of Scotland last week in the name of Mike Ashley’s Sports Direct retail company, fans now fear losing ownership of the club’s stadium. However, it is the emotional heart of the club being ripped out that McCall struggles to accept. Greig, voted Greatest Ever Ranger in 1999, resigned as a director in 2011 in protest at Craig Whyte’s running of the club. Departed manager McCoist, who was put on gardening leave after tendering his resignation, has decided to watch other teams rather than Rangers in recent weeks. Nine-in-a-row manager Smith, meanwhile, confirmed last week he has no intention of ever returning to Ibrox in an official capacity. McCall, who played for Rangers for seven years and had been linked with a return as manager, despairs at the quality of characters who have felt compelled to end their official association with the club. The 50-year-old offered the assessment that few clubs, including Manchester United, could withstand such blows without some very searching question being asked. “John Greig stayed away, which for me is hard to get my head round,” said McCall. “Walter left the board and, again, alarm bells started ringing. If Walter is walking away it must be bad. Obviously the great Sandy Jardine passed away. And now ’Coisty is away. That would be like Bobby Charlton at Man United saying: “You know what? I’ve had enough of the club. Then Sir Alex Ferguson departing because something was going on – and then Ryan Giggs leaving. If that happened at Man United, imagine how everyone would react. “Yes, football is a business now. But is there anybody at Rangers actually doing it for the sake of the club? Or are they just in to make a few quid then disappear into the night?” McCall was speaking at a Scottish Football Association event to publicise the start of the selection process for year four of the regional performance school programme. Since resigning as Motherwell manager late last year the Scotland coach has been linked with the Rangers manager’s post, currently occupied on an interim basis by Kenny McDowall. However, he sounded unconvinced by those in charge at boardroom level at the club, and questioned Ashley’s involvement. “Mr Ashley has got what, eight-and-a-half or nine per cent of the club?” McCall said. “Yet he seems to be the one making all the decisions – appointing a chief exec and a finance director etc. Obviously I’ve got a lot of friends and family who are Rangers supporters – and they can’t understand how this can be the case. The catalyst for everything now is the fact that Ibrox was going to be put up as security against loans. Supporters see other people wanting to offer money and ask why Ashley is the best option.” http://www.scotsman.com/sport/football/spfl-lower-divisions/stuart-mccall-backs-three-bears-rangers-bid-1-3665193
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EGM requisition has been delivered to Ibrox within the last couple of minutes. Statement klaxon to follow no doubt.
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http://sport.stv.tv/football/clubs/rangers/306606-mike-ashley-posts-intent-to-take-out-security-over-rangers-ibrox-stadium/
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#Rangers Breaking George Latham of the three Bears has arrived at Ibrox for talks with the board Sky tweeted it so might not be true
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...as they hold advanced talks with club bosses. Jan 12, 2015 07:32 By Keith Jackson RECORD SPORT understands the Lanarkshire-based businessman and his allies are on the brink of agreeing a deal in return for two seats on the board. DOUGLAS PARK and his consortium were locked in advanced talks with the Rangers hierarchy last night as they edged closer to winning the battle for control of Ibrox. Record Sport understands the Lanarkshire-based businessman and his allies, George Letham and George Taylor, are on the brink of agreeing a deal to plough over £6million of emergency money into the club to spare it from insolvency – in return for two seats on the board. An announcement is expected early this week as the current regime scrambles to secure fresh funding. And last night, with Park and his group on the cusp of forcing their way into a position of power, directors James and Sandy Easdale appeared to pave the way for their imminent arrival by insisting they will be welcomed into the boardroom. In a statement the Easdale family adviser Jack Irvine said: “Sandy and James repeat again that they will willingly work with Douglas Park’s group for the benefit of the club.” Between them, Park, Letham and Taylor already have control of 20 per cent of the troubled Ibrox club’s shares. They are pushing for regime change and plan to invest further in a new share issue but realise the club’s cash flow position is critical and needs to be addressed immediately. In fact, Hong Kong-based banker Taylor believes, in the longer term, Rangers fans should eventually have control over their own club. The Morgan Stanley managing director has now signed up to a life-time membership with fan-ownership group Rangers First and said last night: “My hope is that direct fan ownership would become the biggest individual owner of the club.” Rangers First director Ricki Neill said: “With our monthly contributors donating amounts from £5 upwards, Rangers First have the income to buy an increasing number of shares every month. “The more members we get to join Rangers First the faster we grow and the bigger our shareholding becomes. “We also have the Club 1872 membership – which George Taylor has recently joined. “This costs £500 and was designed originally to help us reach our target in as short a period as possible. “George Taylor is one of many true Rangers fans that have joined Club 1872 and we look forward to meeting up with him in the near future.” Phoenix Knight Robert Sarver has also offered Rangers a crisis loan based on the condition that he underwrites a share issue to the tune of £20m and buys control of the club. But, crucially, the American’s plan needs the support of 75 per cent of the club’s current shareholders for it to get off the ground and so is viewed as a non-starter. This has left Park in the driving seat although the board are refusing to engage in similar talks with like-minded Rangers supporter Dave King, the club’s biggest single shareholder with a 15 per cent stake. As the crisis deepens, the South African-based businessman is expected by many to call for an egm later this week in a bid to rout the current board at a shareholders’ vote. Newcastle owner Mike Ashley, meanwhile, may yet be prepared to make a rival offer after previously handing over £3m to keep the club afloat through November and December. A close source said last night: “The cash situation remains critical and because of this a decision had been expected over the weekend. “The club is now days away from running out of money completely so there is an urgent necessity to get this funding in place. “However, the talks with the Douglas Park group are at a very advanced stage and it is expected that an announcement will be made soon.” http://www.dailyrecord.co.uk/sport/football/football-news/rangers-boardroom-battle-douglas-park-4962945
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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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Radio Scotland - McLaughlin. Also conjecture that Ashlay will sell to ParkCo.
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Three Bears investor George Taylor believes Rangers should eventually be controlled by the Ibrox support. Along with partners Douglas Park and George Letham - as well as oldco director Dave King - the Hong Kong-based banker is among three factions battling for control of the Glasgow giants. But while the Three Bears' most immediate threat comes from US financier Robert Sarver - who has launched a £20million takeover bid - and the current board and their ally Mike Ashley, Taylor believes the club should eventually be governed by the Light Blues faithful. The Morgan Stanley managing director has now signed up to a life-time membership with fan-ownership group Rangers First. In a statement given to Press Association Sport, he said: "My hope is that direct fan ownership would become the biggest individual owner of Rangers." Rangers First have made a number of significant strides in recent days. Wealthy supporter Jim McColl recently handed the group his 10,000-share Ibrox stake last week, while they have signed up around 700 new members since the Three Bears and King bought up around 34 per cent of the club in two surprise transactions just before the new year. The scheme - which is similar to the one used to rescue Hearts from administration - is now collecting thousands of pounds a month from contributors and using that to buy up shares. On Saturday night, they announced another 60,000 shares had been purchased, giving them control of 0.8 per cent of the club. The Rangers Supporters Trust has also recently increased its stake to just over one per cent. With the fight for power set to come down to which faction can get to 51 per cent, the fans could yet play a vital role for the Three Bears and King in the coming days. The board urgently needs to raise cash to keep the club afloat and an announcement on Sarver's revised takeover bid and possible news of another emergency loan is expected early next week. A general meeting may also be called if King and the Three Bears can find the support to force boardroom change. Rangers First director Ricki Neill said: "With our monthly contributors donating amounts from 5 upwards, Rangers First have the income to buy an increasing number of shares every month. "The more members we get the faster we grow and the bigger our shareholding becomes. We also have the Club 1872 membership which George Taylor has recently joined, this costs £500 and was designed originally to help us reach our target in as short a period as possible. "George Taylor is one of many true Rangers fans that have joined Club 1872, we look forward to meeting up with George in the near future." Meanwhile, midfielder Nicky Law believes a win against Hearts next Friday could kick-start Rangers' Scottish Championship title push. The Ibrox side host the Jambos but cannot afford to let Robbie Neilson's men add to their already huge 13 point lead at the top of the table. Law, who scored a first-half winner as the Light Blues finally beat Alloa at the fourth time of asking on Saturday with a 1-0 success at the Indodrill Stadium, said: "The quality of player we have got, we know we should be doing a lot better than we have been doing. "There is no way we should be 13 points behind Hearts but we are. Unfortunately that is a huge gap to claw back but we will do our best to try and rein them in, starting on Friday night. "It's a must-win game. If we can get it back to 10, you never know."
