What have the current board done right?

[forlanssister 3,114]

Roddy Forsyth in The Telegraph on Wallace salary, bonus and other things.

 

Nor should we forget about accountancy and stocktaking, dry arts which are transformed into burning controversies within the context of football, especially at Ibrox where Graham Wallace’s 120-day review has now been completed and is available, Telegraph Sport understands, for perusal in draft form by selected personnel within Rangers. It is due to be made public officially on April 25, although it will undoubtedly leak before then.

 

There was a commercial uptick at Ibrox this week, with the announcement of shirt sponsorship by online casino operators 32Red worth, as the Telegraph revealed, £600,000 per annum over two years with an option on a third year.

 

The word reaching me from within Ibrox is that the first year’s tranche is not quite sufficient to cover the chief executive’s annual salary plus 100 per cent performance bonus which is to be paid in August in cash, shares or both. I do not know if Graham Wallace is worth that or not - he will be judged on the contents of his review - but no doubt there will be a long queue of voluble supporters willing to venture an opinion.

 

And this is what passes for a quiet spell in Scottish football…

 

http://www.telegraph.co.uk/sport/football/scottish-football/10773997/Old-Firm-imbalance-leaves-Scots-envious-at-Premier-Leagues-thrilling-run-in.html

 

[Zappa 0]

What did that say?

 

I've only seen some quotes like these ones below, not the full statement.

 

"Looking back, we continue to profoundly regret selling our majority shareholding in Rangers to Craig Whyte. We remain staggered at the revelations that materialised after the beginning of 2012, bitterly disappointed at the outcome of the administration and saddened at the ongoing uncertainty that appears no closer to resolution."

 

"After the decision of the first-tier tax tribunal, it was evident for all to see that the club need not have entered liquidation. It is also abundantly clear that it would not have gone into administration or liquidation had the purchaser fulfilled its contractual obligations and responsibilities. Similar to our own complaint relating to the leakage of confidential information, we hope that the relevant authorities conclude their investigations and commence proceedings at the earliest opportunity."

 

Those quotes are from this article - http://www.heraldscotland.com/news/home-news/david-murray-reveals-his-profound-regret-over-rangers-deal.23890858

[Zappa 0]

Roddy Forsyth in The Telegraph on Wallace salary, bonus and other things.

 

Very interesting indeed. Sounds like the deal with 32Red is barely any better than the Blackthorn deal we had this season. It was £500k was it not?

[forlanssister 3,114]

Very interesting indeed. Sounds like the deal with 32Red is barely any better than the Blackthorn deal we had this season. It was £500k was it not?

 

IIRC Imran turned down £500k claiming he had a deal for £20m then had to back cap in hand for one of £250k.

[rbr 1,256]

If this is correct , then its a disgrace , we go from needing emergency funding in March to paying 100% bonuses to a CEO who wont even have been in place a year , no wonder we are a disaster on and off the park .

[chilledbear 16]

Easy money at Ibrox.

 

What is more the fans just keep giving.

 

It's a wonder executives aren't queuing up for a job.

[andy steel 0]

Sorry, Rangers, but 'generic no comment' won't do it. Private matter or not, Mr Wallace's bonus entitlement is absolutely the kind of thing which could swing the fans either behind or against the fellow: tell us he's on a decent but not mad salary (and even bonus) while doing his review and he might get some backing. Tell us to piss off, none of your business, only leads to speculation and suspicion, and almost certainly more people deciding that renewing or even going at the moment isn't for them.

 

The very fact that some fans are being forced into a fundamentalist position of actively trying to damage the business in order to 'change the guard' at the top and install some kind of leadership which will, at least, guarantee non-administration events every three years or so is a sign of how bad things are. How long until someone organises an unofficial 'don't use 32Red' campaign?

[Frankie 8,562]

Can't say I'm overly surprised at Graham Wallace's alleged financial package. Over-compensated? Probably but who isn't at wasteful Rangers?

[Frankie 8,562]

As for SDM coming back as majority shareholder? Can't see it.

 

His ego will probably see him buy a notifiable holding (say 5-10%) in the future (if he hasn't already) but I can't see him wanting or being able to afford something greater.

[der Berliner 3,744]

Bain might have got 600k once if he was lucky. Maybe in a treble winning year with CL involvement.

 

This is sickeningly high.

 

20 second google-search yielded:

Johnston also defended a 35 per cent pay rise awarded to Bain last year (i.e. 2010) which took his salary to £633,000, including a bonus of £165,000.

 

Daily Record

 

And we were neck-deep in the reds back then. Hardly anyone know what Bain exactly did to earn his money back then (despite the high praises in that article), whereas Wallace has a "real" job on his hands (no matter what our point of view on that is).

 

EDIT: @ gunslinger ... just noted that you replied to that somewhat later.