RST letter to Wallace

[BEARGER 1,830]

Letter sent to Rangers CEO Graham Wallace

 

As we previously communicated with you, we contacted Graham Wallace in June requesting whether he still agreed over the "importance for clubs with ambition to own their own stadium and training centre". Sadly, we received no response so this week we have sent further correspondence to Mr Wallace. This is as follows:

 

Dear Mr Wallace,

 

Season Ticket Sales and the Future of Auchenhowie

 

We note we have yet to receive a response to our email of 10/06/14 (copied below), and again write to express our concerns in regards to the above.

 

Season ticket sales appear to be very disappointing, which is astonishing given that this season could see us return to the top flight, and will involve some potentially excellent matches against Hibs and Hearts, in what will generally be a much more competitive league.

 

This is surely a reflection on how the fans view the performance of the board, and in particular, a reflection on some very real concerns fans have over the future of Ibrox and our training ground at Auchenhowie.

 

We note the recent statement by the board as regards Ibrox, however, rumours continue to persist that the board are in the process of using Auchenhowie to raise funds in some way to bridge the gap left by the very disappointing level of season ticket renewals.

 

As you are no doubt aware, the training complex is viewed as a symbol of the future by Rangers fans, and disposing of this asset in any way is likely to be counterproductive as it would lead to further disillusionment and detachment of the fans - who, it should be remembered, contributed significantly to the cost of the facility.

 

We would therefore urge you to end this downward spiral and clarify how the board plan to address the apparent lack of confidence which the fans appear to have in them, and thus, hopefully, increase the level of season ticket renewals.

 

We would hope an increase in season ticket uptake to a more realistic level would obviate the need for the board to resort to disposing of vital assets.

 

We note that the first responsibility of the board is to the company and not to any individual or group of shareholders. With this in mind, you will recall the board's recent attempt to raise short term funding via a major shareholder, and that The RST was able to assist in procuring a significantly more beneficial deal for the company.

 

Can you therefore confirm that we will be afforded a similar opportunity to obtain a better deal for the company should the board fail to raise season ticket sales and have to resort to using Auchenhowie to raise finance?

 

We hope you will understand our concerns and the urgent need for a response.

 

We will update members with any response we received.

[buster. 5,257]

Letter sent to Rangers CEO Graham Wallace

 

As we previously communicated with you, we contacted Graham Wallace in June requesting whether he still agreed over the "importance for clubs with ambition to own their own stadium and training centre". Sadly, we received no response so this week we have sent further correspondence to Mr Wallace.

 

 

Surely not Graham "I value Communication and Engagement with fans" Wallace

 

not forgetting.......G "Robust Fianaces" W

 

[Zappa 0]

There's a bit of irony enveloped in this 'letter' and that's unfortunate, but probably unavoidable given the situation and severity of the circumstances.

[Hildy 0]

It's important to keep asking questions of the board - and demanding answers of it too.

 

The issue of Murray Park is important to all of us. The RST is right to keep it to the fore.

[RANGERRAB 3,740]

Does anyone have a realistic solution to the apparent financial shortfall ?

[Zappa 0]

It's important to keep asking questions of the board - and demanding answers of it too.

 

The issue of Murray Park is important to all of us. The RST is right to keep it to the fore.

 

Absolutely and regarding Murray Park, that is a HUGE issue, second only to Ibrox in terms of the Club's assets.

 

It's at times like this that we could maybe do with someone highlighting David Murray's tenure and how much of the massive loan secured on Ibrox was actually paid back before the sale to Whyte as well as a breakdown of the loan reduction payments vs interest payments.

Edited July 29, 2014 by Zappa

[Rangersitis 0]

Does anyone have a realistic solution to the apparent financial shortfall ?

 

The board have. Don't fret.

[the gunslinger 3,366]

Does anyone have a realistic solution to the apparent financial shortfall ?

 

sure they sign over that assets in return for purchase of season books.

[chilledbear 16]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-chairman-david-somers-hits-3933763

 

RANGERS chairman David Somers last night hit back at his club’s own fans by insisting categorically he has no plans to sanction the sale of Murray Park.

 

Somers contacted Record Sport following a statement from supporters’ coalition group the Union of Fans which accused the under-fire regime of plotting to raise emergency cash by flogging off the club’s prized assets , including the training facility at Auchenhowie.

 

And, while declining to be interviewed on the matter, Somers made the board’s position clear in writing and insisted that no “sale and leaseback” deals have been discussed.

 

He said: “There is a great deal of nonsense being written about possible sales of Rangers assets.

 

“The board has never discussed the sale and/or leaseback of any Rangers asset. Nor do I expect us to do so.

 

“Our mindset is to protect and enhance all the assets of the club for the benefit of future generations of fans and shareholders alike.

 

“The above applies to every one of our assets.

 

“I hope my email makes it clear my mindset is not to sell a single one of our assets, especially our Crown Jewels.”

[Frankie 8,662]

Unfortunately, Mr Somers previous words and performance are less than convincing. Thus, in this case, I'm not sure the fans that do doubt his board's intentions will take an informal email promise over an official announcement by the PLC board to the Stock Exchange.