Ex-chairman Alastair Johnston warns club can't afford to repeat mistakes of 12 months

[ian1964 10,688]

EXACTLY one year ago Alastair Johnston was making his way to Augusta when, between flights, he picked up the voicemail that still haunts him today.

 

Back in Scotland, after a series of secret meetings in Edinburgh, a man called Craig Whyte had emerged as the potential â??saviourâ? of Rangers.

 

Johnstonâ??s life and his football club was about to be turned upside down. Which is possibly why yesterday, as he made the same annual pilgrimage to Augusta for one of the top sporting events on the planet, Johnston found his mind wondering back to Govan.

 

The former Ibrox chairman, who left the place kicking and screaming last summer while warning of an unmitigated disaster to follow, fears something even worse may be on the way.

 

With Whyte on the run and his club in administration, Johnston knows Rangers have never been more vulnerable as the hunt for another owner reaches a critical stage in the next 48 hours.

 

By teatime today at least four bids are expected to be on the table for Whyteâ??s 85.3 per cent shareholding. And Johnston is scared stiff at the prospect of what might unfold should those shares again fall into the wrong hands.

 

As he made his way to golfâ??s Masters showpiece, Johnston said: â??It was a year ago this week that I received the call to tell me what was going on with Whyte.

 

â??Now Iâ??m not saying the people who are trying to buy the club this time donâ??t have substance or that they are full of dubious intentions but until we know more they must not be given a free pass.

 

â??Weâ??ve made that mistake before and it brought the club to its knees. I hate to think of the consequences of making the same mistake again.â?

 

It must be noted that Johnston does not speak from a neutral standpoint.

 

Soon after that call he stood shoulder to shoulder with Paul Murray on the independent board which so stubbornly attempted to block Whyteâ??s takeover. Their efforts were in vain.

 

But 12 months on Murray is determined to ride to the rescue with his Blue Knights and Johnston is cheering him on.

 

He doesnâ??t know anywhere near as much about Brian Kennedy, the Sale Sharks owner, who may yet emerge with his own salvage bid. But Johnston would not be unduly concerned by that either.

 

No, after his experience with Whyte, what Johnston really fears is the unknown. Which is why the faceless bidders from Singapore and, more particularly, Chicago have him chilled to the bone. Again, Johnston can smell a rat.

 

He said: â??The comment I made which resonated at that time was that Rangers fans had to remain vigilant where Mr Whyte was concerned. The same applies here.

 

â??Once duped the Rangers fans can never be duped again. The other bidders need to demonstrate transparency to the fans.

 

â??Not just through some nefarious lawyer in some other city. They have to demonstrate the extent of their funds and what their deal is for the club. The stakeholders of Rangers are not the creditors, they are the fans. They matter.

 

â??These other entities need to come clean and not just deal in the shadows with administrators. They have to come right out front and say, â??Hereâ??s the dealâ??.

 

â??The fact that Rangers supporters are being kept in the dark, after everything this club has gone through, is insulting. The biggest mistake David Murray made was he dealt with someone no one knew and who was not transparent.

 

â??My fear is the administrators replicate this mistake and end up duped just like David Murray was. Rangers fans must not be duped again by the administrators.â?

 

Very little indeed is known about the men from the Far East, headed up by wealthy Bill Ng, and the American group which includes Group 9 Sports.

 

What is known is that Group 9 go into the final bidding round in pole position having promised to plough more money in than any of their rivals.

 

But that doesnâ??t wash with Johnston. He said: â??Proof of funds is the key. Thatâ??s where David Murray got duped by Mr Whyte.

 

â??Proof of funds caught David Murray out but, letâ??s be honest, he only had one eye open. To me it sounds as if the administrators might also have one eye open because they want to get out of it.

 

â??It shouldnâ??t have taken 10 months to reach this stage. If we had known about Whyteâ??s lack of funds then he wouldnâ??t have lasted 10 minutes. The man was a charlatan. But David Murray was forced into being duped.

 

â??I warn the administrators that if they get it wrong there will be no second chance. They had better be damned sure about the choice.

 

â??The highest bidder will become the preferred bidder and will then be allowed a period of due diligence. But it would be very easy to be the biggest bidder at this point in time and then walk away in a few weeks when they realise the full extent of what theyâ??ve got themselves into.

 

â??And the damage done from a delay like that could, in turn, knock the club into liquidation.

 

â??Thatâ??s why we canâ??t have time wasters at the table right now.

 

â??I just wonder what would make the American bid the best option in the eyes of the administrators, if that is indeed the case. Ticketus are the biggest creditor. Are they happy to deal with guys from Chicago or Singapore?

 

â??If not I canâ??t see them approving a CVA that could potentially become a gateway into liquidation.

 

â??Ticketus have done a deal with Paul because they know he has professional intentions. Heâ??s the man for Rangers.â?

 

http://www.dailyrecord.co.uk/football/spl/rangers/2012/04/04/rangers-in-crisis-ex-chairman-alastair-johnston-warns-club-can-t-afford-to-repeat-mistakes-of-12-months-ago-86908-23812676/