UOF statement tonight

[BEARGER 1,830]

Sons of Struth

Just now

UNION OF FANS STATEMENT

 

"In response to the disingenuous statement from the board, and to clear up the confusion they appear to be deliberately trying to cause Rangers supporters, we would like to reiterate our truthful account of the discussions held with Mr Wallace, Mr Crighton and Mr Sandy Easdale.

 

We were invited to Ibrox by Mr Wallace, days after the launch of Ibrox 1972, to discuss the ongoing issues surrounding the security of Rangers’ assets. During the course of that discussion on Wednesday 14th May, Mr Wallace suggested that, whilst security would not be granted, the board would be open to offering a legally binding undertaking that Ibrox would not be sold, subject to sale and leaseback or any type of loan security. For the avoidance of doubt, that was Mr Wallace’s proposal, not ours, and he indicated that the plc board would meet on Thursday 15th May to discuss it. Given that two of the four plc board members who were required to rubber stamp this proposal were present, and apparently in favour of it, this was very much presented as a formality. We made it very clear that any such undertaking would need to be evaluated by our lawyers and this was accepted by all those in attendance.

 

Given what Mr Wallace proposed regarding Ibrox, we asked that the same arrangement be put in place for Murray Park in order to safeguard it from the same fate. This was met by more substantial opposition from the board representatives, in particular Mr Easdale, who we would like to emphasise is not a plc board member, and Mr Crighton. They said they wished to retain “flexibility” over Murray Park. However, by the end of the meeting they had also agreed to consider granting the same undertaking as the one they suggested for Ibrox. This, we were told, was also to be discussed at the plc board meeting on Thursday 15th May.

 

Our statement on the night of Wednesday 14th May reflected all of that and was 100% accurate. Any attempt to suggest otherwise is a deliberate misrepresentation of the facts.

 

Since that meeting we have heard nothing from the board. It is clear that they have now rejected Mr Wallace’s proposal to give a binding undertaking over Ibrox. It is clear that they have considered our proposal that the same undertaking be given for Murray Park and have also rejected that. The idea that this latest board proclamation should give supporters any type of additional confidence over the club’s assets is therefore utterly ridiculous. In fact it should confirm just how much danger our vital assets are in.

 

It is clearly impossible to deal with this board in good faith. They told us we would receive a swift response following their deliberations. We have received no response. They told us that over the past two weeks, all major investors, bar one, have indicated they will participate fully and proportionately in any future rights issue. We do not believe this to be the case. They told us that all those major investors are supportive of their business plan and were impressed with the ‘120 day’ review. We do not believe this to be true. They told us that they have access to an instant £5m of equity funding from existing major investors. This, according to Mr Wallace, is available at “the push of a button”. We believe that, if this is true, it will be used to benefit Mr Easdale’s associates.

 

It is clear that Mr Wallace, despite being Chief Executive, has less influence in the plc boardroom than Sandy Easdale, who is not even a member of the plc board. It is clear that Murray Park is in grave danger and has been since December 2013. The statement from the board that they “will not be seeking” a sale and leaseback of Ibrox is not binding and it is still not unequivocal. We believe, as long as the shareholders fronted by Mr Easdale are calling the shots in the boardroom, Ibrox will remain in grave danger too.

 

Until this situation is resolved we would continue to urge supporters to think very carefully before they hand this board their hard earned money up front. It is clear from meagre renewal levels that a large majority of fans do not trust this board. Our experience is that this position is the correct one to adopt. Support the team, not the regime.”

[TheWee BlueDevil 0]

Not just a good statement, it is also believable.

 

Well done Union Of Fans. Keep up the excellent work.

 

Damning indeed for "our" Board, yet some will still get down and kiss their very expensive boots.

[Blue Moon 1,346]

This statement mirrors my interpretation of recent events.

 

I cannot believe that people are still trusting this board to do the right thing.

 

The Easedales have the club by the bollocks. Starve them out.

[aweebluesoandso 290]

I think we knew the board was disingenuous and couldn't be trusted, this episode proves it. Another 12 gauge shotgun blast to it's own feet by the this board.

 

Uof membership just got little bigger.

[Stimpy 0]

Sickening. Fucking sickening.

[the gunslinger 3,366]

Horrible situation we find ourselves in.

[TheWee BlueDevil 0]

I think we knew the board was disingenuous and couldn't be trusted, this episode proves it. Another 12 gauge shotgun blast to it's own feet by the this board.

 

Uof membership just got little bigger.

Time and time again this Board trample on the truth. What will it take to open some people's eyes?

[Juancornetto 1]

Speechless.

[simplythebest 0]

'We believe'.

[Hildy 0]

Time and time again this Board trample on the truth. What will it take to open some people's eyes?

 

Some eyes will never be opened. We have to accept that.

 

An entrenched allegiance overpowers commonsense and intelligent analysis with some people. They will not see what they have conditioned themselves not to see.

 

Hopefully, enough of us can see that there's reason to be concerned.

 

The board wishes to retain 'flexibility' over Murray Park?

 

Let the alarm bells ring out - loud and long.