chilledbear 16 Posted February 10, 2012 Share Posted February 10, 2012 I've not seen them on the Forum. SUMMARY OF MEETING HELD BETWEEN THE RANGERS SUPPORTERS ASSEMBLY AND CRAIG WHYTE ON SUNDAY 5 FEBRUARY 2012 Present: Craig Whyte (RFC Chairman), Jim Hannah (RFC Supporters Liaison), Andy Kerr (President, RSA), Ross Blyth (Vice-President, RSA), Mark Dingwall (RSA Delegate for Rangers Supporters Trust, Tam Green (RSA Delegate for Scottish Delegates) The Assembly delegates thanked the Chairman for arranging to meet at such short notice and then set out the level of anxiety and concern among supporters following the recent media coverage of the Clubâ??s financial affairs. The Chairman said he was well aware of the concern and recognised how important it is to keep the fans informed and united â?? he stressed we must all stick together. The delegates went on to explain that there had been a unanimous mandate from all the fansâ?? representative groups to seek clarification on a timetable for publication of the Clubâ??s accounts. They explained that the accounts would place on record all the financial details and would remove the rumour and speculation. The Chairman explained that the accounts had been held up for two reasons â?? one was the auditors requesting further papers and information from the Club and the other was awaiting legal opinion on the outcome of the Big Tax Case. He confirmed that the audit is now complete and he was meeting the auditors on Monday 6 February 2012 to hopefully finalise the process. He promised to feed back the outcome of that meeting and provide a timetable for publication (see update below). He clarified that, in any event, the accounts had to be made available to the SPL and UEFA by 31 March 2012. He confirmed that after the accounts are published and, subject to the statutory notice period, an AGM will be called. There was then some discussion about the financial transactions around the borrowings from Ticketus against season ticket revenue. The Chairman confirmed the borrowing was over a three-year period and was secured against one of his companies and not Rangers Football Club. He stated that all monies were lodged and transacted through the Clubâ??s bank accounts â?? that included the £18m from him to clear the previous Bank debt, the Ticketus borrowings and the working capital available as part of the Takeover Agreement. In response to questions about the level of borrowing from Ticketus, the Chairman explained that it would be extremely difficult to borrow from any Bank at present and it was necessary to meet the running costs of around £3.5m per month. Questions were then posed about the Big Tax Case. If the case goes in the Clubâ??s favour, the Chairman stated that HMRC would appeal and that would mean a further lengthy period of the same uncertainty and would discourage investors, sponsors, etc. If we lose the tax case, we can appeal but there would then arise the issue of managing any accruing debt. He couldnâ??t speculate on the outcome but made it clear this is a vital period in the Clubâ??s history. He explained that all the shareholders and season ticket holders are the lifeblood of the Club and their interests would be looked after, no matter the outcome. In summary, the Chairman stated we are in very difficult times and we need to be able to reach the point where we can run the Club on a selfâ??sustaining basis. He is fully committed to that goal and will do all in his powers to achieve it. ADDENDUM - As promised, the Chairman provided an update following the meeting with the Auditors on 6 February 2012. He stated that he met with the auditors and they confirmed that they now have the majority of the documentation that they require to complete the accounts. Anything else that they require will be provided this week. They are confident that the accounts will be produced well in advance of March 31st. An AGM will be held as soon as possible after the accounts are signed. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted February 10, 2012 Author Share Posted February 10, 2012 All I take from this is. Everything is so civilized. Everyone has to agree, while Rangers are going down the plug 'ole. A bit like Ibrox on match day, no passion, no hard questions being asked. The band will be playing while Rangers become the laughing stock of Scottish Football. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 10, 2012 Share Posted February 10, 2012 All I take from this is. Everything is so civilized. Everyone has to agree, while Rangers are going down the plug 'ole. A bit like Ibrox on match day, no passion, no hard questions being asked. The band will be playing while Rangers become the laughing stock of Scottish Football. We have taken the saying "shooting ourself in the foot " to a whole new level. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted February 10, 2012 Share Posted February 10, 2012 at the very least, he kept a promise..... 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,815 Posted February 10, 2012 Share Posted February 10, 2012 Well, from what I know of Mark Dingwall, he will not have been sitting in anyone's lap and listen to the wise words of the chairman. Then again, it seems that many on here will not be satisfied with much (to anything) what Whyte says or does, and they will demand a vis-a-vis talk with him too. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 10, 2012 Share Posted February 10, 2012 Well, from what I know of Mark Dingwall, he will not have been sitting in anyone's lap and listen to the wise words of the chairman. Then again, it seems that many on here will not be satisfied with much (to anything) what Whyte says or does, and they will demand a vis-a-vis talk with him too. If I was him DB I would say f#*k the lot of you sell the place out from under us and walk away it's what they expect him to do so why disappoint. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted February 10, 2012 Share Posted February 10, 2012 All I take from this is. Everything is so civilized. Everyone has to agree, while Rangers are going down the plug 'ole. A bit like Ibrox on match day, no passion, no hard questions being asked. The band will be playing while Rangers become the laughing stock of Scottish Football. Im not sure that this is fair. All the Assembly guys can do is ask the questions and report back on what was said. Perhaps the questions were not as probing as they could have been but that's just down to them not having a detailed financial knowledge and not because they wanted to give CW an easy ride. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted February 10, 2012 Share Posted February 10, 2012 Well, from what I know of Mark Dingwall, he will not have been sitting in anyone's lap and listen to the wise words of the chairman. Then again, it seems that many on here will not be satisfied with much (to anything) what Whyte says or does, and they will demand a vis-a-vis talk with him too. At the end of the day Jeremy Paxman or Peston could have sat in and asked questions but if the chairman didn't answer truthfully we'd still be no nearer any answers. Hence, I don't think it's fair to suggest people are wrong to maintain their concern over the lack of clarity. I've been critical of Whyte over this but accept some information should remain private for strategic reasons. Unfortunately, that's still not enough to allay the fears I have over Whyte, his financial dealings and the future of our club. The situation we're in is a messy one - not all of Whyte's making of course. However, the very future of our club is at stake so it surprises me when people complain about their fellow supporters looking for leadership from our new custodian. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,679 Posted February 10, 2012 Share Posted February 10, 2012 Is there any sign of the minutes from the meeting that the VB guys had with Whyte? Have they been issued on the VB site yet? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,665 Posted February 10, 2012 Share Posted February 10, 2012 Is there any sign of the minutes from the meeting that the VB guys had with Whyte? Have they been issued on the VB site yet? Don't think so. Not sure of the delay. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.