Rangers Annual General Meeting

[the gunslinger 3,366]

59 minutes ago, Bill said:

I hope a sense of negativity doesn't develop towards Dave King. Whatever he does to protect his personal interests, which he is entitled to pursue, his role in the club's recovery is clearly established and the least we owe him for that is respect.

I think he has bought a lot of credit. 

 

Some never wanted his money though so there will be a bit of noise always. 

 

Sensibly he will go down as a huge part of stopping terry munro and rightly so. 

 

PS i know an actual Terry Munro. 

 

 

[26th of foot 6,082]

'PS I know an actual Terry Munro'.

 

Is that a Stephen King novel?

[onevision 1,568]

1 hour ago, Bill said:

I hope a sense of negativity doesn't develop towards Dave King. Whatever he does to protect his personal interests, which he is entitled to pursue, his role in the club's recovery is clearly established and the least we owe him for that is respect.

Exactly right, remember didn't he lose a big slice of money through old co so probably just looking after his interest this time around?

[Bill 13,717]

1 hour ago, Bluedell said:

The feeling of negativity has already been developed, from his misleading (at best) comments in trying to encourage fans to invest in the C1872 share issue rather than allowing their funds to go to the club, to charging interest on his loan (I'm not convinced he had to do that), to him now trying to limit the club's ability to raise further funds. 

 

That doesn't take away everything that he's done for the club, for which we will always be grateful, and yes, he's now entitled to pursue his personal interests but when they are against the best interest of the club then we are, in turn, entitled to criticise him. 

I didn't say no one should criticise him. His entanglement with the dubious Club1872 is something I've openly criticised. All I said was he deserves to be treated with respect for the good things he undoubtedly did for Rangers, the best of which was to hand over the reins in an orderly manner.

Edited December 1, 2021 by Bill

[the gunslinger 3,366]

35 minutes ago, 26th of foot said:

'PS I know an actual Terry Munro'.

 

Is that a Stephen King novel?

Definitely not i have read them all and would surely remember. 

[Bill 13,717]

2 hours ago, the gunslinger said:

I think he has bought a lot of credit. 

 

Some never wanted his money though so there will be a bit of noise always. 

 

Sensibly he will go down as a huge part of stopping terry munro and rightly so. 

 

PS i know an actual Terry Munro. 

Terry Munro's passing was mourned by many but I had no idea Dave King was the perpetrator.

[rbr 1,256]

Always feel sorry for the managers getting dragged to these , they sit there wishing they could be anywhere else , and given that he’s just in the door I thought it would have been better use if his time to be on the training ground .

 

Also dont understand where the “£7.5 million required has already been met “ statement , has now developed into , its been covered by the investors , that wasn’t my hearing or understanding , but could be wrong , I was too busy keeping Brahim  Hemdani in check lolololol 

Edited December 1, 2021 by rbr

[26th of foot 6,082]

Presentation Over Content?

 

I have attended a few dozen Club AGMs over the decades. Mostly, I have departed the venue thinking the event was a triumph of presentation over content; particularly during David Murray's tenure. Yesterday, I sat in the Auditorium accompanied by a calmness. The ambient blue light occasionally reflecting the lustre of the SPFL trophy. Pre-event, the lobby whispers were low and the sipped tea served to sharpen appetites for a Presentation confirming our return. The Hall was two thirds full, the empty seats were filled with contentment. The Blazers at the top table are largely the same as us, born and bred Rangers supporters.

 

That's the end of the cheese, Rangers supporters have demands.

 

The AGM began with a 10 minute video presentation of last season's Premiership goals. Next up was the the Company Secretary, James Blair. He introduced the Board and attending Advisors. He then ran through proposals, re-elections and, voting procedure. He handed over to Club Chair, Douglas Park who welcomed all and noted the attendance of the Premiership trophy. Managing Director, Stewart Robertson gave a short summation of the last year and current situation. He introduced Gio van Bronkhurst to loud acclaim.

 

The next twenty-five minutes were taken up by Nick Thomson inviting Stewart Robertson, Ross Wilson and, James Bisgrove to sit beside the Premiership trophy stage left. The settee and lounge chair were filled and a relaxed discussion ensued reference Club finance, marketing and commercial activity, European Coefficient, Pitch, training ground and, contracts. Each were quietly, matter of fact impressive. Robertson emphasised the Club's Euro progress from 216th position to 41st. Further, the Club had contributed considerably in taking the National Euro position to ninth. Bisgrove extrapolated on the kit deal being worth £7-£9 million next year and Commercial activity growing up to £27 million as a new normal. Further, he claimed Rangers TV's revenue had grown 100%. Wilson talked about Gerrard's departure and claimed to be ready for it, van Bronkhurst's appointment within the week would suggest he was on the front foot. Robertson addressed the £7.5 million needed to finish the season, already raised and expects a small end of season profit.

 

Nitty gritty issues ensued, all lifts at the Stadium were being renewed at the cost of £1 million. The kitchens catering for in excess of 2,000 hospitality customers were over 25 years old and along with all Stadium toilets would be replaced next. Academy has been improved, new Coaches appointed. Medical and Sports Science improved too, brought up to English Premiership standard. The women and girls side of operations has been made full time professional, it's important not an exercise in box ticking. Robertson finished with an update on New Edmiston House. The metal framework is currently being raised, and a new Manager, David Pyatt has been appointed to ensure it opens Autumn'22. The space will be big enough to host AGMs, Concerts, Dinners, functions, ..... etc. There will be a Museum and a two tier retail outlet. On match days, it will be the basis for a family match day zone. The current club shop will be converted into a Sports Bar and again be part of the FanZone plan.

 

Bisgrove ended with notes on Club Partnerships, £3 million this year, will be a comfortable £7 million next year and, still room for growth. Wilson expanded upon Contracts, relaxed about reviewing older player contracts at the end of the season, non contributors will be allowed to leave and, there is a set wage structure that will NOT be broken.

 

James Blair then moved the AGM to questions from the floor, there were more than a dozen but I will concentrate on the four most important. George Hoggin on a Club'72 proxy asked about loans secured against the Edmiston Club and rate of interest? John Bennet answered - £13 million in new loans secured at 6%, we were paying Dave King 8% and, others have offered between 9% and 13%(these have not been taken up) because the 6% coupon is now the benchmark. The Board have driven down the cost of funding.

 

Eddie Simpson representing the Blind Party made two points, firstly because of Covid the Party has been moved from behind the dug-outs and has been subsequently separated. Secondly, the Blind Party no longer received Away tickets. Robertson promised a solution would be found for the first but the second was dependent upon away clubs. The Rangers Blind Party emanates from Bill Struth's time as an Officer in the RAMC, his decade of rehabilitation work with veterans after WW1 included introduction of Blind Party Commentators. The Blind Party are a much valued part of the Rangers Family, every accommodation should be made.

 

David Ferguson asked about the Ticket Office, pointed out it was often closed and most queries go unanswered. Robertson accepted it was verging on shambolic and a new Customer Service Manager with improved accompanying software was necessary immediately. Stated it was now a priority.

 

Charlie Murray from Linwood made the most heartfelt plea. He related the experience of being a disabled Rangers fan, the facilities are disgraceful, sight lines appalling, positions open to the elements, if rain is predicted some do not trap due to flooding, ..................... finished by stating, "I made the very same complaint three years ago". Robertson accepted all points, Park intervened stating the issue had been widely discussed ay yesterday's Board meeting. An assurance was given, necessary improvements will be made soonest. The facilities for disabled Rangers supporters should be the best in the world, they are fellow Rangers supporters and most deserving. Time for the fans in the Stands to grasp this nettle, starting Saturday.

 

There was a final question from an anonymous chap grabbing the mike. He made the point Rangers are held to a different standard by the general media and had a pop at Humza, James Dornan and, Susan Aitken. All perpetrators in, 'tell a lie often enough' -this brought a reply from David Graham, "all we want is balance and fairness, we take a long term approach, more scalpel than chainsaw".

 

The AGM concluded.

 

 

[Gonzo79 15,292]

Thanks for that excellent summary, @26th of foot.

[the gunslinger 3,366]

17 hours ago, rbr said:

Always feel sorry for the managers getting dragged to these , they sit there wishing they could be anywhere else , and given that he’s just in the door I thought it would have been better use if his time to be on the training ground .

 

Also dont understand where the “£7.5 million required has already been met “ statement , has now developed into , its been covered by the investors , that wasn’t my hearing or understanding , but could be wrong , I was too busy keeping Brahim  Hemdani in check lolololol 

Possibly because of the share issues recently. 

 

What i would really like to know is the current director loans are they going to be converted to shares or repaid. 

 

Brahim sure does love you but who can blame him.