Article from Telgraph

[SteveC 150]

http://www.telegraph.co.uk/sport/football/teams/rangers/11292997/Mike-Ashleys-Rangers-regime-admit-it-is-very-difficult-to-win-over-fans.html

 

 

' Mike Ashley’s right-hand man at Ibrox has admitted that overcoming the Rangers support’s lack of trust in the board will be “very difficult”.

 

Derek Llambias, formerly managing director at Newcastle United, has imposed an austerity regime at Ibrox which has seen long-standing staff axed, a factor understood to have contributed to Ally McCoist's decision to work his 12-month notice period as manager unless the directors find the cash to pay off him along with his backroom staff.

 

Unhappiness with team performances has grown – Rangers are nine points behind Hearts in the Scottish Championship promotion race and lost 2-0 to Queen of the South on Friday – but the greatest source of disenchantment is with the directors. The decision by the Rangers plc board to favour a £3million loan from Ashley over a £16million takeover bid from former director Dave King has alienated many fans from the owner of the Sports Direct chain, which markets the club’s merchandise.

 

Rangers’ most recent accounts confirmed Telegraph Sport’s disclosure that Rangers had lost more than £8million in the last financial year. At the annual general meeting on Dec 22 the board will ask for approval for an £8million share issue but, more immediately, cash flow is threatened by plunging gates, with the club admitting to a 19,000 attendance for the visit of Cowdenbeath last weekend, although insiders say that the crowd was actually not much above 15,000.

 

“We need to re-establish credibility with the fans, which is going to be very difficult,” Llambias told the most recent meeting of the club’s Fans Board. “What is obvious is that we need cash to stay in the club and not go elsewhere. We are cutting back as much as we can and put it onto the park

 

“We’ve cut as much as we can. Our strategy is that we’re not affecting the playing area. We’ll be looking to review pricing of match day and season tickets to ensure we’re as competitive as we can be. Pricing and value are two key areas that we’re focusing on.”

 

Llambias also revealed that Rangers had made several attempts to secure a deal with Charlie Telfer, the 19-year-old midfielder whose move to Dundee United cost the Tannadice club £204,000 development compensation. “He went for less money because he wanted first-team football,” said Llambias. “Four different offers were made throughout Charlie’s contract term, all of which were refused.”

 

Sandy Easdale, chairman of Rangers football board – who is another target for disaffected fans – revealed that live match fees could not make up for the slump in attendances. “Match attendances are down UK-wide right now,” he said.

 

“We’d rather fill the stadium than broadcast live as we don’t make as much money. Rangers TV costs us money – a lot of money as it stands right now. The club is subsidising this. This is not as big an issue when we’re back in the Premier League.”

 

Telegraph Sport revealed that the board had been wrong-footed by McCoist’s decision to hand in his notice. At the meeting with the Fans Board, which preceded the manager’s shock announcement, Easdale said: “As far as we’re concerned the management team will remain in place. We had a good meeting with the manager today and we will continue to have ongoing dialogue with the management.”

 

The Fans Board was told by Easdale that Rangers have a financial dividend coming at the end of December from Sports Direct but that the club shops in Belfast and Glasgow Airport had lost £600,000 between them. He added that Rangers get £10 per shirt sold by Puma and have leveraged Sports Direct to get a better deal.

 

Easdale assured the Fans Board that they would be the club’s means of communication with supporters “as exclusively as possible”, a policy that sets the board on a collision course with dissident groups such as the Rangers Supporters Trust who, along with the Union of Fans, are intent on securing five per cent of the club’s shares, so that they can requisition extraordinary general meetings.

 

Meanwhile, McCoist is due to meet Llambias and Easdale on Wednesday to discuss his future at the club, with the bookies already quoting odds on Terry Butcher and Stuart McCall as possible successors. However, the problem remains that Rangers do not have the £15million required to pay off the manager and his backroom staff'.

 

 

Yikes, Ally's on more than we thought !

[the gunslinger 3,366]

it won't be hard at all they simply need to find the investment to get us back to the top.

[Oleg_Mcnoleg 50]

It's not hard at all. Ensuring we're half-way solvent would go a long way towards it. And not appearing to run the club for the benefit of one minority shareholder should complete it.

[aweebluesoandso 290]

These guys are supposed to be movers and shakers in their fields, looks like a simple bear will have to lead them by the hand here.

 

You have paid a pittance for your hold on our club. Also most of you have taken a huge wedge for little work. Put some decent money into the club and it's infrastructure, get us back into the top league and competing for honours. Then you can sell your share for vast mark-up. Now how difficult is that?

Edited December 14, 2014 by aweebluesoandso

[SteveC 150]

It's not hard at all. Ensuring we're half-way solvent would go a long way towards it. And not appearing to run the club for the benefit of one minority shareholder should complete it.

 

I think that is what is hard for them - doing any of that, because all they are interested in is complete exploitation for said benefit.

[forlanssister 3,114]

That's just taken from the RFB minutes.

 

It was Llambias who stated we'd receive a Rangers Retail dividend in December not Easdale.

 

The Puma royalty should be £5.10 to Rangers and £4.90 to SD as the split should be 51/49 not 50/50, I did point that out and it was acknowledged in the meeting.

[the gunslinger 3,366]

Yeah but Is it.

[Zappa 0]

The Puma royalty should be £5.10 to Rangers and £4.90 to SD as the split should be 51/49 not 50/50, I did point that out and it was acknowledged in the meeting.

 

Are you saying 49% of the Rangers shirt sponsorship cash from Puma goes to Sports Direct?

[forlanssister 3,114]

Are you saying 49% of the Rangers shirt sponsorship cash from Puma goes to Sports Direct?

 

49% of the royalty is my understanding.

 

We’re on a royalty deal with Puma where the club get approx. £10 per shirt sold.

We’ve leveraged Sports Direct to get us a better deal. Sports Direct gets half of the shirt deal

 

 

http://www.rangers.co.uk/images/FansBoard/Minutes/RFB_Meeting%20_261114.pdf

 

Edited December 14, 2014 by forlanssister

[Zappa 0]

49% of the royalty is my understanding.

 

Strange deal, good deal, bad deal?