ian1964 10,724 Posted April 19, 2011 Share Posted April 19, 2011 If the current board are forced to resign how will that affect Bains' meeting with UEFA?? 0 Quote Link to post Share on other sites More sharing options...
Guest BRIANMC1 Posted April 19, 2011 Share Posted April 19, 2011 Bains arse will be nipping now. Where else would he get paid �£600 k a year for little or no productivity? 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted April 19, 2011 Share Posted April 19, 2011 This obviously raises some questions. 1. Can CW be trusted with our future? 2. What great deeds have any of the present board performed over the past 10 years. 3. If the Board goes, do we get true fan representation on the new one? 0 Quote Link to post Share on other sites More sharing options...
Guest BRIANMC1 Posted April 19, 2011 Share Posted April 19, 2011 This obviously raises some questions. 1. Can CW be trusted with our future? 2. What great deeds have any of the present board performed over the past 10 years. 3. If the Board goes, do we get true fan representation on the new one? Right now i have one question and one question alone. What the Fcuk are this 'Independent Board' playing at? 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted April 19, 2011 Share Posted April 19, 2011 (edited) Absolutely shocking state of affairs, our club is being assailed from all quarters, takeover apparently stalled. UEFA disciplinary hearing coming up not to mention very important games to be played this week. Yet no one comes out and tries to calm troubled waters? not even a "clam down calm down" christ I could do with a hug. Edited April 19, 2011 by aweebluesoandso 0 Quote Link to post Share on other sites More sharing options...
CumbernauldGers 0 Posted April 19, 2011 Share Posted April 19, 2011 if true the final end game has started IMO Think your spot on mate. This was always going to happen. I have posted many a time saying this shower will not go easy, they have been milking the club for the best part of ten years. If and it's a big if the club gets taken over it will get alot more nasty before it happens. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,744 Posted April 19, 2011 Share Posted April 19, 2011 They should simply have done it behind closed doors, much like the take-overs in the EPL et al happened. I've been around for the better part of 30 years and never ever have I seen such a "saga". Then again, one should not forget the influence of the media here. It is sure blown out of all proportions by the "close attention" by certain quarters. 0 Quote Link to post Share on other sites More sharing options...
laudrup11 0 Posted April 19, 2011 Share Posted April 19, 2011 They should simply have done it behind closed doors, much like the take-overs in the EPL et al happened. I've been around for the better part of 30 years and never ever have I seen such a "saga". Then again, one should not forget the influence of the media here. It is sure blown out of all proportions by the "close attention" by certain quarters. Agree with this also The business would have been better off done behind closed doors, but the media have revelled in this and have taken every oppurtunity to go to print with a negative story especially at a time when we face a difficult or important game. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted April 19, 2011 Share Posted April 19, 2011 From the Rangers website: The Independent Sub-Committee of the Board of Rangers Football Club plc wish to clarify certain media comment and speculation relating to its position with respect to the proposed transaction amongst the Murray Group, Craig Whyte and the Lloyds Banking Group. We have fiduciary duties to look after the interests of all the stakeholders in the Club. In particular, we have legal responsibilities to ensure that the proposed transaction serves the best interests of the 26,400 minority shareholders, many of whom are season ticket holders. For some time the Board has had major concerns about its engagement in the process. After nearly six months of negotiation, we have only very recently had the opportunity to meet Craig Whyte and his team. Moreover, it is only in the last few days that we have started to receive the draft agreements outlining the transaction, although we are still awaiting a detailed working capital statement demonstrating that there is sufficient funding in place to meet the pressing needs of the Club. Based on the documents we have only been able to review within the last week, we are disappointed that they ultimately did not reflect the investment in the Club that we were led to believe for the last few months would be a commitment in the purchase agreement. Given the requirement to repay the bank in full under the proposed transaction, there appears to be only a relatively modest amount of money available that would positively impact the Club's operations, especially as it relates to an urgent requirement to replenish and upgrade the playing squad. Whilst the proposed transaction has addressed the interests of Lloyds Bank, the Murray Group and Craig Whyte, our perspective is solely directed towards the future of Rangers Football Club. To this end the Board has had an approach from one of its directors who wishes the Board to consider an alternative funding option. This would involve a fresh issue of new capital to raise �£25m to be invested directly into the Club. The Board believes that it has a responsibility to examine this proposal whilst continuing its review of the Craig Whyte transaction. After six months of limited engagement in the process, the Board believes that is not in the best interests of its stakeholders for it to be pressed into an unrealistic timescale. On Monday, I had a lengthy conversation with Craig Whyte explaining the dilemma that the Board now faces. It was a constructive and healthy dialogue, and whilst he expressed his frustration, he understood our position. We agreed to remain in touch in terms of working towards a resolution that is in the best interests of all parties involved as we receive more information relating to his financial commitment to Rangers Football Club. 0 Quote Link to post Share on other sites More sharing options...
Guest Dutchy Posted April 19, 2011 Share Posted April 19, 2011 I've never liked the sound of this deal and felt it was all rather hurried in order to get the bank off our backs. But my biggest problem was with this Ellis character being involved and I'd question anyone that gets into bed with him, especially after he was roundly told to GTF after his first attempt. I don't know what's going on and we may never find out all the reasons for this debacle, but I have to accept that the board have Rangers FC's best intrests at heart. Craig Whyte and his sidekick Ellis, I'm not so sure about. 0 Quote Link to post Share on other sites More sharing options...
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