the gunslinger 3,366 Posted October 9, 2014 Share Posted October 9, 2014 I wouldn't think of Wallace as much of a loss when he's been so weak over the McCoist affair but you can throw that at all the board. Confusing times You once said you would be finished with the ****s if they got rid of Wallace. You were his biggest fan at one time. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted October 9, 2014 Share Posted October 9, 2014 Dead simple, as only time will tell whether people are successful in what they are doing or whether they can change course. Much like new football managers taking over with the same players at their disposal. Obviously, you had a decent enough chance to be correct, given the state of affairs business- and finance-wise, so deductions on the B-note here. I was always going to be right because chucking a couple of people under the bus is a great smoke screen for the gullible. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted October 9, 2014 Share Posted October 9, 2014 http://www.dailyrecord.co.uk/sport/football/football-news/mike-ashley-demanded-ownership-rangers-4404886 Ashley demanded ownership of the Rangers badge in return for an emergency loan, the Daily Record can reveal. The bid was blocked by Ibrox chief executive Graham Wallace, who is battling against Newcastle owner Ashley for control of the club. Ashley yesterday demanded the heads of Wallace and director Philip Nash– just a month after the pair blocked his attempts to take ownership of the club crest. Business experts believe control of the famous badge could bring in millions of pounds in merchandising. Ashley sparked another boardroom crisis at the Glasgow club yesterday when it was announced to the stock market he has called for an extraordinary meeting of Rangers shareholders to bullet Wallace and Nash from their positions. The board reacted by unanimously backing both men, who are also believed to be supporting a multi-million-pound bailout offer from a trio of wealthy of fans – Dave King, Paul Murray and George Letham . But Ashley is determined to press ahead with a power grab of his own after increasing his shareholding in the club to 8.92 per cent . He has been gunning for Wallace and Nash since they booted out his plan to seize the club’s intellectual property including their crests and trademarks. On September 3 we revealed that the Sports Direct boss had tied up a secret deal to buy the naming rights for Ibrox Stadium for just £1. Less than 24 hours later, we told how Ashley had also taken full control of the club’s retail outlets. And last night we received additional information about his foiled plan to become the owner of the club’s badge. Ashley made the demand in talks with Wallace about a potential loan to help the current regime stave off another financial crisis. But Wallace and Nash were against flogging off any more of the family silver to the Londoner. He is already raking in huge profits as part of a kit deal given to him by former chief executive Charles Green. An angry Ashley reacted by informing Wallace that he would take no part in an emergency share issue later that month, which raised £3.2million – short of its £4million target. Rather than give his cash to the club, last week Ashley paid investment firm Hargreave Hale £853,000 to buy 4,265,000 shares at the same 20 pence price as the Rangers offer. And he has now followed that up with yesterday’s hostile attempt to remove Wallace 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 9, 2014 Share Posted October 9, 2014 This type of story just appears to be yet more spin without any direct comments. If Wallace is really fighting for his job, why won't he come out and make a statement on what is going on? 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted October 9, 2014 Share Posted October 9, 2014 Not the first time this story has surfaced. Ashley just another one who sees Rangers as a way of making money. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 9, 2014 Share Posted October 9, 2014 Not the first time this story has surfaced. Ashley just another one who sees Rangers as a way of making money. The IRA blogger has been punting this angle for ages now, although he claimed that it had already been sold off. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted October 9, 2014 Share Posted October 9, 2014 http://www.eveningtimes.co.uk/rangers/500k-for-rangers-to-dump-wallace-and-nash-183855n.25551275? £500K for Rangers to dump Wallace and Nash CASH-STRAPPED Rangers could have to shell out over £500,000 to pay off chief executive Graham Wallace and director Philip Nash if the pair are ousted. Billionaire businessman Mike Ashley wants both Wallace and Nash removed from their positions on the board - and has called a general meeting of the Ibrox club. The surprise move is a significant development in the escalating battle for control of the troubled Glasgow institution. The Rangers board issued a statement yesterday morning saying that it is "united in its support of the executive team". However, Sports Direct tycoon Ashley is hopeful he has the 51% shareholder backing that he needs to get the motion passed. Ashley has formed an alliance with football board chairman Sandy Easdale in recent weeks. And, if major stakeholders Laxey Partners or other investors support the bid, it should go through. However, former Manchester City chief executive Wallace and ex-Arsenal and Liverpool financial director Nash would need to be compensated if it does succeed. And it could take £500,000 to pay up the remainder of their contracts with the SPFL League One champions. One option would be to put Wallace and Nash on fully-paid gardening leave until their deals run out - but that would put a strain on already-dwindling finances. Rangers would need to appoint a replacement to run the club if Wallace, who earns an annual salary of £315,000, was removed. Alternatively, they could pay the highly-remunerated executives off in one go - and honour any bonuses they have in their agreements. Despite raising over £3million in a new share offering last month, Rangers only has enough money to sustain it until the end of 2014. And it is unclear where the money will come from to pay Wallace and Nash if they are removed from their positions at the EGM. Hopes were high that Scot Wallace could restore order when he succeeded Craig Mather as chief executive last November. The Dumfries-born accountant came with an impressive track record, having worked in a variety of senior roles, including chief executive, at Barclays Premier League club City. However, he has been unable to mend the club's relationship with a large section of the Rangers support who are unhappy with many aspects of the running of the Ibrox club. Just over 23,000 fans renewed their season tickets for Ibrox this summer - a drop of over 10,000 on last season. And in recent months it has emerged that a power struggle was being waged between football board chairman Easdale and Wallace. Wallace is reported to have opened negotiations with former director Dave King in the past month about coming to the rescue of the Light Blues. The South Africa-based businessman has previously stated that he was prepared to invest £50m of his money to get Rangers back to the forefront of the Scottish game. But King coming on board would dilute the stakes of existing investors and they are unprepared to lose more money on their outlay after seeing the share price plummet from 70p to just 20p. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 9, 2014 Share Posted October 9, 2014 Was Wallace Chief Executive at Man City? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,265 Posted October 9, 2014 Author Share Posted October 9, 2014 From his LinkedIn http://uk.linkedin.com/pub/graham-wallace/11/950/324 Chief Operating Officer Manchester City Football Club Privately Held; 501-1000 employees; Sports industry November 2010 – March 2013 (2 years 5 months) Manchester, United Kingdom Executive responsible for all business and operations functions at 2011/12 English Premier League Champions Manchester City Football Club. Managed the business transformation programme, initially as Chief Financial Officer and latterly as Chief Operating Officer following acquisition of the club by an Abu Dhabi investor. Chief Financial & Administration Officer Manchester City Football Club Privately Held; 501-1000 employees; Sports industry April 2009 – November 2010 (1 year 8 months) Manchester, United Kingdom 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted October 9, 2014 Share Posted October 9, 2014 Thanks, Frankie, I was sure that he wasn't. More spin, or just shoddy journalism? It really is difficult to tell the difference these days. 0 Quote Link to post Share on other sites More sharing options...
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