Putting Whyte through the wringer

[Frankie 8,562]

With most media sources now suggesting the takeover of Rangers is likely to be announced to the Stock Exchange later this week, it seems the question is no longer if this deal will happen but when.

 

On the surface the price and stipulations agreed by Whyte look to be a good for the club and supporters alike. The vast majority of the long term bank loan will be eradicated and other existing debt removed while 'new' money made available to invest into the club - around �£30million over 5 years if the 'sources' are to be believed.

 

Given our existing owner (and his directors) have struggled to provide anything similar without selling players or relying on Champions League money it will be fascinating to see how Whyte et al intend supplying their investment. Will we be exchanging old debt for new debt and one nosey bank for another? After all, surely Whyte won't be putting in �£30million of his own money - if indeed he does have the net-worth as to afford such a sum?

 

It is obvious then that at this stage we have more questions than answers. So much so, that we're reliant on Sir David Murray, Lloyds Bank and the 'independent bid oversight sub-committee' to conduct due-diligence on the buyer on our behalf. We can only hope they do so without prejudice given all these parties will have their own self-interest to look after. Will Rangers FC and its loyal support really be high on their list of priorities though? The very fact we're basing our concerns on hope rather than expectation is perhaps as damning as any in-depth post-mortem on the Murray era.

 

Much better then to look to the future and while our questions to Craig Whyte may occur after the fact they're still worth asking. It is probable that he'll be eager to meet with the Rangers Assembly quickly after buying so I'm sure they'll be ready to represent us all in asking the difficult questions that need to be answered. A bland interview with a salivating Chic Young just won't do.

 

As a shareholder and season-ticket holder (though not yet renewed) I'll be expecting the Assembly to concentrate on the following few key areas - though I'm sure we'll all have our own equally important questions and concerns as well.

 

- Who is Craig Whyte?

 

Simplistic Google searches notwithstanding the lack of information on Whyte really is quite incredible. Other than a few failed UK businesses and questions about just how long his visas in Monaco lasted, we know next to nothing about this 'successful businessman'.

 

Obviously he must have some sort of proof of what he offers - both strategically and financially. We need to know more about his past, his future and who his partners are. This should be the easiest question for him to answer.

 

 

- Where is the investment coming from?

 

�£5million of 'new' money for 5 seasons irrespective of player sales and European participation is a fair sum given the club struggles to make a profit otherwise in the stagnant SPL market.

 

To that end, where is this money coming from, who is providing it and what guarantees are placed on the club as a result? This question is less easy to answer and the new regime may not want to reveal vital tactical information but given the club's current situation our concerns are valid so need to be addressed.

 

 

- Where do you see the club in 5 years time?

 

It may seem daft to ask questions about 2016 before the guy has sat behind his new desk in 2011 but despite the initial successes of the Murray era, Rangers have struggled with anything other than short-term fixes in the last 10 years especially.

 

Furthermore Whyte is promising investment for 5 years but what happens after that? Do he and/or his backers pull out? Will the club be for sale again? What position will it be in? A long-term vision is something we all need and want to buy into. That may be literal if rumours are to be believed about share issues.

 

 

Of course we could go on all day with a variety of specific questions. I'm sure transfer policy, supporters representation, board make-up, media/PR work, asset protection and youth systems are equally important dependent on our own personal bug-bears. But without answers to the big questions above, any promises on the individual elements have no foundation. To that end, we must concentrate on the wider issues initially.

 

Now, common sense tells us we may not obtain all the answers we want and, of those we do get, we may not like them all. That's fair enough but, at the very least, any welcome for Craig Whyte and his backers should also mean putting him through the wringer as soon as we shake his hand.

 

With �£20million of season ticket money still in reserve he should be equally as keen to answer. Will the grip match the smile?

Edited April 27, 2011 by Frankie

[Stimpy 0]

Should be an exciting summer where Whyte can go about laying the foundations of his plans. We will also read story after story from the press telling us what Whyte's plans are.

 

Clearing the debt, investing his own money in and hopefully he can generate other income revenue streams should see us buy a better standard of player without going into the dangerous territory that Murray put us in.

 

There's many things we want from him and one of them would be a tough stance on the media.

[ian1964 10,720]

Should be an exciting summer where Whyte can go about laying the foundations of his plans. We will also read story after story from the press telling us what Whyte's plans are.

 

Clearing the debt, investing his own money in and hopefully he can generate other income revenue streams should see us buy a better standard of player without going into the dangerous territory that Murray put us in.

 

There's many things we want from him and one of them would be a tough stance on the media.

 

I hope CW keeps a low profile regarding feeding the mHedia any info about potential signings. He seems to have kept them in the dark so far.

[Stimpy 0]

I hope CW keeps a low profile regarding feeding the mHedia any info about potential signings. He seems to have kept them in the dark so far.

 

We'll be linked with every player you can think of. It'll be like the Murray days for while where you see Kaka and the likes being linked. The press will kick the arse right out of it.

[Frankie 8,562]

Should be an exciting summer where Whyte can go about laying the foundations of his plans. We will also read story after story from the press telling us what Whyte's plans are.

 

Clearing the debt, investing his own money in and hopefully he can generate other income revenue streams should see us buy a better standard of player without going into the dangerous territory that Murray put us in.

 

There's many things we want from him and one of them would be a tough stance on the media.

 

Improved/tougher media interaction is just one detail of this but it's arguably an open goal for him given many fans are so disappointed with the current regime's policy.

 

Whyte's initial words will be grasped upon by hundreds of thousands of people - bears or not.

 

It is imperative that he begins his Rangers tenure in a manner that shows us our future is safe in his hands.

[Stimpy 0]

Improved/tougher media interaction is just one detail of this but it's arguably an open goal for him given many fans are so disappointed with the current regime's policy.

 

Whyte's initial words will be grasped upon by hundreds of thousands of people - bears or not.

 

It is imperative that he begins his Rangers tenure in a manner that shows us our future is safe in his hands.

 

I fancy we will dissect his first press conference like the media do when an American President is sworn in. He's probably got his speech ready to go.

[Frankie 8,562]

Actually, I propose that he organises a Rangers Constitution for the future and impeaches Sir David Murray retrospectively...

[biggordy 0]

I say we should welcome him to the Club with open arms.

Look at all major Clubs and their "owners" How many would you fully trust to run your Club ?

What are their motives ? Who knows ?

Do you think Man City fans worry about their owners suddenly bailing out ? Maybe if and when it happens that can be addressed, but what a ride they are having at the moment.

At least Craig Whyte is a fan, whereas many EPL Club owners look on ownership as a way to simply make profit from a hobby or shift debts about (anyone for Glazers or SDM ?)

Maybe he just wants the Club he supports reach the heights of Europe as well as turn a shilling or two in the process, has anyone mentioned that prospect as a motive ? Then, we're all winners are we not !

 

I'm really scunnered with all the negative talk.

I think we should all be bursting with excitement at what the future might bring so let's not chase him away ffs.

[bluebear54 0]

I seem to remember AJ saying that CW had admitted to not knowing the first thing about running a club. It'll be interesting to see if the Board remains the same and if not, who is brought in.

Also interesting to see how the match-day experience improves and how he approaches improving the quality of everything that the Rangers do and sell, like merchandise, food the general tattiness of the stadium etc.

There's also room to improve the operation at Murray Park as a revenue stream - we've really started bringing players through now, but it could be better still.

And yes - I agree - a better and more savvy media/PR operation would help too.

[Frankie 8,562]

I say we should welcome him to the Club with open arms.

Look at all major Clubs and their "owners" How many would you fully trust to run your Club ?

What are their motives ? Who knows ?

Do you think Man City fans worry about their owners suddenly bailing out ? Maybe if and when it happens that can be addressed, but what a ride they are having at the moment.

At least Craig Whyte is a fan, whereas many EPL Club owners look on ownership as a way to simply make profit from a hobby or shift debts about (anyone for Glazers or SDM ?)

Maybe he just wants the Club he supports reach the heights of Europe as well as turn a shilling or two in the process, has anyone mentioned that prospect as a motive ? Then, we're all winners are we not !

 

I'm really scunnered with all the negative talk.

I think we should all be bursting with excitement at what the future might bring so let's not chase him away ffs.

 

It's not being negative to ask relevant questions of our club's future.

 

It's the very least Whyte should expect when buying a club that their fans may want to know of his plans. If that prospect frightens him, then that is truly worrying.