Zappa 0 Posted April 23, 2014 Share Posted April 23, 2014 About 130 days late in starting imho. Especially when you consider that Wallace and his fellow board members (apart from Easdale) were appointed a whole month before the start of the so-called 'review' period. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 23, 2014 Share Posted April 23, 2014 You have that back to front, Winter is when clubs mortgage their season ticket revenue stream as clubs are flush with the season ticket monies in the summer. The exception to the rule being the Whyte era. Perhaps we could agree to compromise on the Spring? Surprised you didn't have a go on any of my other comments, am I winning you over? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2014 Share Posted April 24, 2014 Now that the dinner is sorted, a few late thoughts at bedtime on the leaflet as it seems that they are about to come out with yet another statement: RANGERS NEED CHANGE – This Board did not “fritter away the share issue money” and who (apart from Mr Houston) is to say they won’t deliver. SEASON TICKET HOLDERS HAVE THE POWER – The income from ST holders is not (as BD made clear) “vital to the current Board”. It is vital to the Club, your Club. “By cancelling your renewal, by delaying payment or paying game by game you can play your part” in bringing the Club to its knees. “If we stand together we can secure the assets of the Club”; no we can’t, it’s a preposterous idea. THE SCALE OF THE PROBLEM – “Most analysts agree that the Club needs a share issue injection of at least £20m”; correct, but we’ll have no chance of getting it if we don’t have “the normal income it receives”. Make your mind up Craig, do you want the Club to get the normal income or not? THE 12O DAY REVIEW IS A DIVERSION – “It’s an insult says Mr Houston; “intended to panic season-ticket holders into renewing before being able to properly consider where the Club ………. (unfinished)”; just who is panicking? THE CURRENT BOARD WILL ONLY DELIVER HEARTACHE – “Mortgaging season ticket income” is what the Boards of Rangers and many other Clubs have done for years to get them through the summer months when they have to pay players and perform maintenance on the stadium before the new season. Would that it were not so and perhaps it is worse now than it has been in the past but is not a phenomenon that shows this Board to be “incapable of running the Club”. At least they are not using the money to buy the Club. DON’T ALLOW YOURSELF TO BE BLACKMAILED – “Starving the Club of season ticket money will damage the Board”. This is Nonsense. It will do severe damage to the Club by putting the going concern basis in doubt and thus make the Board’s job all that much harder. WE ALL NEED TO MAKE SACRIFICES– “Is your seat more important than the Club’s future?” Blackmail indeed; it is emotional blackmail and blackmail that has no chance of succeeding. Lastly I do condemn the Board for delaying the issue of the review until the last minute or even beyond the last minute and not taking action earlier; but is Mr King & the UoF any better? Where are their plans for spending £30m/£50m or whatever and where is the detail about the Trust and all the questions so ably posted by Hildy? Does the fact that the word “trust” does not appear anywhere in the leaflet not tell us something? The UoF is 7000 strong. It's not Mr Houston. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2014 Share Posted April 24, 2014 http://www.unionoffans.org/statements/2014/4/23/uof-statement 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2014 Share Posted April 24, 2014 Rangers supporters have called for full clarity on the club's financial past and future ahead of the release of Graham Wallace's business review. It is due on Friday and fans want "firm commitments" not "vague corporate speak" from the chief executive. The Union of Fans is also pressing ahead with its plans for a season-ticket trust fund. This would pool renewal money that would only be paid to Rangers in return for security over property assets. Wallace announced the launch of his 120-day review at the annual meeting of shareholders in December. The intention was for a thorough examination of the club's business and some staff have already left in the meantime. Wallace has made it clear that costs need to be cut and that future funding will be required. The Union of Fans, a coalition of supporters groups, has called for full disclosure on how the money raised when Rangers International Football Club was launched on the Alternative Investment Market was spent. In February, a £1.5m loan was provided by the shareholders Sandy Easdale and Laxey Partners, although the terms of the agreement with the latter was bettered by another shareholder, George Letham. The fans also want a "comprehensive" breakdown of how further investment will be sought to underpin the club's attempts to return to a position of challenging Celtic at the summit of the Scottish game and competing regularly in Europe. With the season-ticket renewal deadline falling in 12 days, and former director Dave King having urged fans to put their renewal money in the trust fund of which he and Richard Gough are directors, the review is considered a critical moment for Wallace. King also wants to invest in the club as part of a fresh share issue, but has accused the board of "acting in bad faith". "It has now been over four months since Mr Wallace's AGM pledge and we expect, given the length of time it has taken, that this business review will give a full and comprehensive picture of the way forward for the club," said the UoF statement. "We expect to see a full breakdown of how the club arrived at the point where it required to borrow funds simply to complete the current season. "This should include a full breakdown of where the IPO money went. In particular, detail of the sky-high placement costs, related fees and who those fees were paid to and why. "We expect to see full detail of who will be providing the £30-£50m required to take Rangers back to the level we should be operating at, in the absence of this board accepting the offer of investment from Dave King. "We also expect to be told exactly when this will be provided, on what terms and a clear plan of how it will be used to rebuild the club both on and off the park. "We hope that this review will not simply be more, vague, corporate speak from Mr Wallace. We want to see tangible, measurable progress and firm commitments on the huge investment required. "Anything less will be a damp squib, especially since we have already seen that we cannot even rely on public, binding statements from this board." The Union of Fans also revealed that its intention is for the season-ticket trust fund to be open for fans to sign up to before the 6 May renewal deadline. If season-ticket income falls, Rangers will need to seek external funding to keep trading. "We will have a website in place within the next 10 days where fans can register their details and securely place their season-ticket money," the group stated. "This money will only be passed to the club in return for season tickets if security is granted over Ibrox and Auchenhowie. "Those are our only conditions. If that security is not granted then fans will retain their money and can decide themselves how to proceed at the start of the new season." Rangers are also understood to be on the verge of appointing Paul Tyrrell, the former director of communications at Manchester City, Liverpool and Everton, in a consultancy role. During his time at Anfield, Tyrrell was alleged to have written a report comparing some Liverpool supporter groups to Cambodia's Khmer Rouge. (external) 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2014 Share Posted April 24, 2014 http://www.bbc.co.uk/sport/scotland/27134948 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2014 Share Posted April 24, 2014 I think the season ticket trust will be to late this year for many but it will be something that builds momentum over the years. Let's be honest kings 50 million is going to hang over this board like a sword of damaclese. It may take years but we will get there. In 18 months we will be in the spl with God knows what at our disposal under this board how many thumping will people put up with while kings sitting there waiting to invest. Not many in my experience of Rangers fans. Rangers fans demand success. We are all ready looking to sack a manager that's lost 3 games all season . Our first failure to win the league will tear the GreenCo apart. 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted April 24, 2014 Share Posted April 24, 2014 I hope the Tyrell rumour is a mistake. The last thing we need is more money going to the corporate side. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted April 24, 2014 Share Posted April 24, 2014 The UoF is 7000 strong. It's not Mr Houston. We'll see how many of them put their money into Messrs King & Gough's company; and what's the betting that Mr Houston, Mr Dinnie and Mr Graham are also directors. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted April 24, 2014 Share Posted April 24, 2014 We'll see how many of them put their money into Messrs King & Gough's company; and what's the betting that Mr Houston, Mr Dinnie and Mr Graham are also directors. Could well be. My bet is more players and perhaps Walter though. 0 Quote Link to post Share on other sites More sharing options...
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