Rangers First vote to offer club £500,000 loan

[BrahimHemdani 1]

Is it true RF and BR are merging or is it just rumours? Would imagine it would need a vote first

 

The RF vote was carried in October.

 

These were the main points in the RF proposal, I assume a similar proposal went to RST members, IIRC they also adopted it but no doubt plgsarmy will confirm.

1. 
   
2. A new unified Board will be elected to co-ordinate and direct the operation of all of the functions identified above. The board will be appointed by contributors and members on a one member, one vote basis and will also be required to regularly consult with members through membership votes on key decisions. The Board will also be required to carry out its duties with regard to a common statement of purpose and values which will outline the values expected of Board members and the considerations to which they are to have reference in directing the group’s activities. The Board will have executive duties (e.g. PR, marketing, finance, share buying, finance, legal and administration) and officers will account to contributors and members for their performance. Prospective board members will be required to demonstrate that they can devote time to their position and duties and must make themselves available for Board and members’ meetings. Further discussions will be necessary to agree the number of members of any new Board with a maximum of between 6 to 8 directors under consideration.
   
3. Rangers First 2014 CIC will become the shareholding vehicle for the new group. Existing shareholdings will be consolidated into this vehicle and it will become the vehicle for share purchases for the ISDX listing and going forward. Existing Rangers First contributors will continue to donate to this vehicle until after the ISDX listing and other supporters group members will be encouraged to become contributors to or transfer shares to the CIC. The RST will proxy its shareholding votes to the CIC whilst consideration is given to a more permanent solution. All members of the RST’s Buy Rangers scheme will be asked to transfer their shareholding to this vehicle. The shares held by this CIC will be used in accordance with the direction of members’ votes and the new Board as referred to at 1. above.
   
4. The community interest company owned by the RST will be used to collect donations being made by members for non-share buying purposes including Protecting Ibrox. The destination for the monies raised by this CIC will be determined by contributors and members’ votes from a range of options put forward by those donating. Suggestions to date include Protecting Ibrox (about which more will be revealed shortly), investing in youth development, enhancing match day facilities, creating a Rangers archive/ museum and otherwise assisting the future financial performance of the Club. The perils of relying on banks and the market in this regard have become all too clear in recent years. No one cares about Rangers more than its support and using that support to ensure its financial well-being will be essential to restoring Rangers to the top flight of European Football.
   

Edited January 10, 2016 by BrahimHemdani

[BrahimHemdani 1]

Totally disagree with this. What gives Rangers first the right to own assets of the club. All assets should belong to the club and that should never change. If Rangers first want more shares then great but if we start selling assets to any set up supporters groups then we are completely on the wrong road.

 

This was one of the stated aims of RF from the outset.

 

This from the Minutes of the Meeting of 24 February 2014

 

RA stressed that the flexibility of the CIC model was paramount to the hoped for success of

Rangers First. The CIC could adjust what the money coming in was to be used for, it could

not only be used to buy shares but be used for other schemes which would be beneficial to

the club.

POST MEETING NOTE: As per previous notes to meetings please be aware that it is the

flexibility of the model that enables monies to be used for projects other than shares

purchase. However Share purchase is first and foremost. Any other use of the money to

enable the Club to perform better would require approval by the members and a binding

contract and due diligence with the Club. No money can be “donated” to the Club. It must be

properly and transparently accounted for.

 

.......................................................................................................................................................................................................

 

Based on the following and the paragraphs quoted above from the October email it would seem that this aspect will henceforth fall on the RST vehicle:

 

Rangers fan groups have put themselves at the forefront of fan ownership in UK football. By doing so, they have created the circumstances which will enable them to contribute directly to the future success of our Club. This contribution can take many forms. Supporters can collectively own shares, they can help fund initiatives they vote to support and they can contribute to projects backed by the Club.

 

Rangers First and Rangers Supporters Trust currently own over 5% of the shares in Rangers International Football Club PLC (RIFC). Growing this shareholding is vital to the Rangers Support to ensure that the Club never again suffers as it has over the last few years. There have been many shareholders in RIFC in recent years for whom the Club’s interests do not come first. Rangers supporters will ensure that the Club’s interest and its success is always paramount. To achieve this aim, it will be necessary to remove shareholders who do not share the same vision. Rangers supporters can also use the shares they have acquired to back those with the Club’s best interests at heart.

Once this has been achieved, funds can be used to invest in the development of young players, to protect Ibrox, to recognise our history in an archive/museum and to develop our Stadium and improve the facilities it provides for all of our supporters for the generations to come.

Edited January 10, 2016 by BrahimHemdani

[BrahimHemdani 1]

Just to take this a little further the Articles of Association on the RF web site (I don't know if they were ever adopted) say only

 

5. Objects

The objects of the Company are to carry on activities which benefit the community

and in particular (without limitation) to the community of Glasgow Rangers

supporters.

 

6. Powers

To further its objects the Company may do all such lawful things as may further the

Company’s objects and, in particular, but, without limitation, may borrow or raise and

secure the payment of money for any purpose including for the purposes of

investment or of raising funds.

 

If these are the adopted Articles then there is no requirement on RF to buy shares and there is no prohibition on them from investing in other ways to further the objects of the Company.

[BrahimHemdani 1]

I don't know the full history of the ownership of the Albion Car Park, but i'm sure some of the more clued up on here will inform us? But did it not pass through various hands over the years,. Firstly owned by the club, then David Murray or one of his many businesses, then his son or one of his businesses, then back to the club. Not forgetting we could have lost it to Ashley if his loan was not paid back. Why shouldn't the supporters own part of our club, least then we could be sure of an proprty staying within the family in perpetuity.

 

I was one of the shareholders who opposed the sale of the Albion Car Park to Murray Group in 1990 and was interviewed for STV at the time by a certain journalist who was at that time a Rangers shareholder and now works for a rival broadcaster. The original sale and 1995 transaction are mentioned here:

 

http://www.heraldscotland.com/news/12106989.Ibrox_car_park_deal_may_cause_unrest/

Edited January 10, 2016 by BrahimHemdani

[trublusince1982 243]

It's all too cosy for me. It's getting like the board and their buddies are all shoehorned into place. Seeing fan group members invited to the blue room at things like the loving cup ceremony leaves me feeling uncomfortable.

 

Not that I believe or think anything untoward is happening nor do I mean to cast aspersions on anyone. I would just like to see more autonomy between fans groups and the board. I'm all for open communication but favours and gifts should be a no no. How can you be unbiased or questioning towards friends?

 

That's not to say I think these people who give a lot of time and support to the club and fans shouldn't receive our thanks and favour, I just think a level of separation is in the best interests of the club.

[aweebluesoandso 290]

It's all too cosy for me. It's getting like the board and their buddies are all shoehorned into place. Seeing fan group members invited to the blue room at things like the loving cup ceremony leaves me feeling uncomfortable.

 

Not that I believe or think anything untoward is happening nor do I mean to cast aspersions on anyone. I would just like to see more autonomy between fans groups and the board. I'm all for open communication but favours and gifts should be a no no. How can you be unbiased or questioning towards friends?

 

That's not to say I think these people who give a lot of time and support to the club and fans shouldn't receive our thanks and favour, I just think a level of separation is in the best interests of the club.

 

The fans are the mainstay of the club, it's our club but we don't own it, i have been going to Ibrox for over fifty years. Never ever have i been into the directors box, closest was Mainstand rear on the wings. I honestly don't think the ordinary supporter was welcomed anywhere near the Directors box ever. So much for a family club, i mean family as the wider Rangers supporters community.

 

I hope to see that attitude change in my lifetime.

Edited January 10, 2016 by aweebluesoandso

[trublusince1982 243]

The fans are the mainstay of the club, it's our club but we don't own it, i have been going to Ibrox for over fifty years. Never ever have i been into the directors box, closest was Mainstand rear on the wings. I honestly don't think the ordinary supporter was welcomed anywhere near the Directors box ever. So much for a family club, i mean family as the wider Rangers supporters community.

 

I hope to see that attitude change in my lifetime.

 

yeah agree with that it seems you must have sway over fellow fans before you get invited. I'm obviously massively jealous! Would love to have seen random season ticket holders invited to the blue room to see things like the Loving cup ceremony or to visit the directors box once in a while

[pete 2,499]

I don't know the full history of the ownership of the Albion Car Park, but i'm sure some of the more clued up on here will inform us? But did it not pass through various hands over the years,. Firstly owned by the club, then David Murray or one of his many businesses, then his son or one of his businesses, then back to the club. Not forgetting we could have lost it to Ashley if his loan was not paid back. Why shouldn't the supporters own part of our club, least then we could be sure of an proprty staying within the family in perpetuity.

 

What guarantee does a supporters group owning an asset give that it is in good hands. None that I can see. Look at the mess the RFF ended up in. If supporters groups buy enough shares they can make sure by voting that Assets remain a part of the club. We should want to own the club and therefore the assets.

[BrahimHemdani 1]

The fans are the mainstay of the club, it's our club but we don't own it, i have been going to Ibrox for over fifty years. Never ever have i been into the directors box, closest was Mainstand rear on the wings. I honestly don't think the ordinary supporter was welcomed anywhere near the Directors box ever. So much for a family club, i mean family as the wider Rangers supporters community.

 

I hope to see that attitude change in my lifetime.

 

yeah agree with that it seems you must have sway over fellow fans before you get invited. I'm obviously massively jealous! Would love to have seen random season ticket holders invited to the blue room to see things like the Loving cup ceremony or to visit the directors box once in a while

 

I have never been in the Directors Box but I have been fortunate to have been in the Blue Room on three or four occasions most recently during my brief spell on the Fans' Board, so here you go.....

 

[BrahimHemdani 1]

What guarantee does a supporters group owning an asset give that it is in good hands. None that I can see. Look at the mess the RFF ended up in. If supporters groups buy enough shares they can make sure by voting that Assets remain a part of the club. We should want to own the club and therefore the assets.

 

It's a laudable aim, Pete, but TBH Rangers are just too big. Fan influence is the nearest we are going to get, unless Mr King eventually buys it outright and gifts it to the Fans or we start with a blank sheet of paper a la FC United of Manchester.