ian1964 10,831 Posted June 17, 2010 Share Posted June 17, 2010 Sir David Murray today said Rangers will ride out their financial troubles ââ?¬â?? and could yet still attract a buyer. Murray announced on Tuesday he was taking the club off the market after three- and-a-half months of discussions with London-based property developer Andrew Ellis ended without a deal being done. The Ibrox owner said today that an improved relationship with the bank, Lloyds, and a continuing revival of his metals business helped explain his decision. He said there had been ââ?¬Å?some major improvementsââ?¬Â in the health of his business empire since the low point. ââ?¬Å?At that time our bank went out of business, the price of commercial property collapsed, the football club had just lost to Kaunas, and the price of metal collapsed,ââ?¬Â Murray said. ââ?¬Å?We have a working relationship with Lloyds, who didnââ?¬â?¢t know us a year ago and are backing many of our ventures, some in the pipeline. There is stability in our business.ââ?¬Â Murray said Rangers had produced six months of good financial results and there would be a small profit at year-end. He added: ââ?¬Å?The budget is approved, supported by the bank, the facility is supporting a little bit of money to spend.ââ?¬Â Murray declined to comment on his ongoing commitment to Rangers, but repeated that he would only accept an offer that was ââ?¬Å?in the best interests of the club, its shareholders and its fansââ?¬Â. When asked if Rangers is no longer a sellable proposition, Murray said: ââ?¬Å?The answer to that is it will be if it is run efficiently in a cost-effective manner ââ?¬â?? that is the way it will survive and be attractive to someone.ââ?¬Â http://www.eveningtimes.co.uk/sport/editor-s-picks/david-murray-rangers-will-survive-1.1035472 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,839 Posted June 17, 2010 Share Posted June 17, 2010 What ventures are in the pipeline and how does the owner intend to run the club 'efficiently in a cost-effective manner' whilst maintaining our domestic success? 0 Quote Link to post Share on other sites More sharing options...
bmck 117 Posted June 17, 2010 Share Posted June 17, 2010 Anyone else find it a bit deflating to have our owner set the cap of ambition at survival? I know we have to be realist in these things, but you can be realist and inspiring. You could say, in this new world of fiscal belt-tightening and living-with-in-your-means there are both hardships and opportunities - there's a real chance for Rangers to lead the way in adopting new strategies to deal with new times? I suppose if he came out with that, there'd be moonbeam sarcasm again, but survival implies a sort of day-to-day short termism, yet he doesn't expect a buyer, which implies there's a long term that's begging for at least some sort of vision - even if it's making a virtue of what we currently have to endure. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 17, 2010 Share Posted June 17, 2010 What ventures are in the pipeline and how does the owner intend to run the club 'efficiently in a cost-effective manner' whilst maintaining our domestic success? . Presumably the 'ventures in the pipeline' refers to Murray ventures outwith RFC. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,839 Posted June 17, 2010 Share Posted June 17, 2010 Perhaps so, but surely Rangers should have some as well? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 17, 2010 Share Posted June 17, 2010 Definitely. I just don't think that's what Murray was referring to here because he was talking about his whole business, not just the football club. 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted June 17, 2010 Share Posted June 17, 2010 Just reading that statement, initial reaction is "is that it?" That shows how little respect he has for the fans if he thinks that's a suitable statement given the goings-on of the last few months. Disappointed, but not surprised. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted June 17, 2010 Share Posted June 17, 2010 Pretty much echoes what I was saying in another thread. I've always wondered why SDM would accept a mere �£3M to �£6M for his shares without a gun to his head when, if allowed, he can trade Rangers out of debt and sell for a lot more. Money makers don't like big losses and I can see him envisioning selling a debt free Rangers in the future for the full �£33M or more. That's a 1100% increase on his current offer. I think he'll at least want to break even on his tenure, possibly counting what money he personally made from Rangers. I found it very hard to believe he'd limp away with just �£3M from something like a �£75M investment. 0 Quote Link to post Share on other sites More sharing options...
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