A Guest blog by redlichtie for TSFM
From what I can see Mike Ashley is likely to be the only game in town for RIFC/TRFC fans unless they want to see another of their clubs go through administration/liquidation.
That particular scenario potentially allows for a phoenix to arise from the ashes but on past evidence it is probably going to be an underfunded operation with overly grandiose pretensions taking them right back into the vicious circle they seem condemned to repeat ad nauseam.
Ashley has the muscle to strongarm the various spivs to give up or greatly dilute their onerous contracts and I suspect that is what has been happening behind the scenes.
From Ashley’s point of view I believe that what is being sought is a stable, self-financing operation that he can then sell on whilst retaining income streams of importance to SD.
I also suspect that he will come to some arrangement with the SFA to dispose of his interest once he has stabilised the club.
The problem for RIFC/TRFC fans is that Ashley is not going to fund some mythical “return to where they belong”, though that is beginning to appear to be the second division of the SPFL where they are heading to have a regular gig.
Like at Newcastle, Ashley will cut their coat according to their cloth. This will mean, again like at Newcastle, a mid-table team with good runs every so often. If the finances can be fixed then they will have an advantage over most other Scottish clubs but in the main we will be back to actual footballing skills and good management being what is important (pace “honest mistakes”).
With recent results and footballing style clearly those are issues that will require attention and McCoist seems likely to present RIFC/TRFC with an early opportunity to address at least one aspect of that if he continues with his current “I’m a good guy” press campaign. It may take just one unguarded comment or action and he will be out.
But will the Bears go for Ashley’s plan? So far they seem antagonistic and still cling to their belief that the world owes them a top football club regardless of cost.
If the fans don’t get behind the current entity I can see Ashley deciding the game’s not worth it and cashing in his chips. Some ‘Rangers Men’ will probably turn up and create a new entity for The People to believe in and Ashley will continue to draw in income from shirt sales and, most likely, charging fans at the world famous Albion car park which he will then own.
The upcoming AGM is crucial and from what we have seen of Ashley so far he gets what he wants.
The crushing reality about to descend on The People is that there really is no Santa Claus. A Sanity Clause, perhaps but no Santa Claus.
hen1rik says:
January 4, 2015 at 11:17 am
22 0 Rate This
From @lawtop20
As argued before the ‘same club’ argument becomes irrelevant if the registration process and subsequent membership are both invalid.
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He’s always tweeting remarks such as this. But what is he actually saying here?
That there IS some sort of investigation going on which might declare TRFCL’s registration and membership null and void?
Or that IF there was such an investigation and IF that investigation found improprieties in the process AND that investigatory body had the power to nullify the registration and membership THEN the OCNC argument would become irrelevant?
I’m sad to say I believe it’s the latter and he is, therefore, little more than a troll IMO.
Auldheid says:
January 4, 2015 at 2:32 pm
Without FFP we are doomed to return to the same unsustainable model that has brought the game into such disrepute, I’m surprised the bookies still take bets on it.
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If there is no FFP, and there is a return to what happened before, who is going to lend them the money?
Highlander says:
January 4, 2015 at 2:25 pm
………………..
Another terrific contribution fella….however the next time you hear the line… Rangers FC went into administration…follow it up with…’only Companies can enter administration’ 😯
Ecobhoy
If it’s evidence you need, please take a ganders at this;
http://www.bbc.co.uk/sport/0/football/27934760
I particularly like his last sentence:
‘It is believed that Nerlinger is aware of the financial and political issues around the club’.
Nerlinger would have to have been submerged in a German U-boat for the past few years if he wasn’t!
stifflersmom says:
January 4, 2015 at 1:09 pm
RW, since back in the RTC days, has been a consistent and persistent advocate of Trfc’s return to the top flight both in print and live on various Newsnight Scotland interviews.
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Now watched it a couple of times and take no great exception to what Wilson has stated. At the time he was employed by the Glasgow Herald and his statements were clearly based on his work there on the rapidly unfolding Rangers story at the time.
Worth remembering the date of the interview was 12 June 2012 and there was confusion as to what would follow the refusal of the CVA and where Rangers would end-up football-wise.
That is the context of Wilson’s answers to the questions asked by the presenter and I see them as balanced and fair.
All journalists are reliant on what others tell them and have to form as balanced an opinion as possible from that info. I see nothing in the interview that indicates any unprofessionalism in RW’s answers.
Obviously a word or phrase can be selected from any longer piece and taken out of the general context but I think I have an open-mind on the subject and didn’t identify any hidden agenda.
I would also observe that it isn’t necessarily a bad thing for a journalist to be a consistent and persistent advocate for anything which they believe to be based on a solid foundation of fact.
As to the piece in question I just don’t see it the way you do as he states the ourcome is unclear with different solutions and competing financial interests at work.
stifflersmom says:
January 4, 2015 at 3:33 pm
If it’s evidence you need, please take a ganders at this;
http://www.bbc.co.uk/sport/0/football/27934760
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The link points to a well wrtitten football piece way above the usual mince trotted out by the SMSM IMO. I had never seen it before so thanks and I certainly see it as positive evidence for RW’s journalistic skills.
As to your concern over the last sentence perhaps the tongue-in-cheek humour of it has escaped you. I had a good laugh at it as it’s the kind of device a good writer can pull-off.
However our different reactions probably underline that people see what they want to see.
“Doncaster Out” banner among the Aberdeen fans at Fir Park today.
Not shown on Sky and doubtful if it will be mentioned in tomorrow’s papers.
http://t.co/ig82grRnn0 picture of said banner
King and the Three Bears about to be usurped by an £18M offer from the USA?
http://www.bbc.co.uk/sport/0/football/30674489
By Richard Wilson BBC Scotland
The owner of the Phoenix Suns basketball team has made an £18m offer to buy a controlling stake in Rangers.
http://www.bbc.co.uk/sport/0/football/30674489
easyJambo says:
January 4, 2015 at 5:01 pm
King and the Three Bears about to be usurped by an £18M offer from the USA?
http://www.bbc.co.uk/sport/0/football/30674489
===================================================
😯
Is this just an American squirrel ?
Or are we missing something fundamental in this saga ?!
And where’s Brian Kennedy… 😕
easyJambo says:
January 4, 2015 at 5:01 pm
1 0 Rate This
King and the Three Bears about to be usurped by an £18M offer from the USA?
http://www.bbc.co.uk/sport/0/football/30674489
————
What does he know that Bill Miller didn’t? Does he believe that Scotland is actually England? (They do call it all ‘England’). Sounds like a Charles Green fairytale. Even the chap at Villa wants out, pronto, and there the pavements are made of silver with big pots of gold at the end of rainbows. Still, you never can tell with our American cousins.
Interesting point by Richard Wilson in his piece at: http://www.bbc.co.uk/sport/0/football/30667547
I think that probably backs-up my post the other day that it’s highly unlikely AIM will take any action on any allegations that King is part of the 3Bears Concert Party – well at least technically 😎
An alternative view of Robert Sarver as a “cheapskate”
http://www.brightsideofthesun.com/2014/8/4/5966117/going-gorilla-robert-sarver-is-not-escaping-his-role-as-villain-with
Phoenix Suns to Phoenix Rangers sounds about right though.
I just read the Sarver story and found this bit particularly amusing …
“Sarver’s previous involvement in major sports shows that the £33m would just be an initial investment. If you are going to rebuild a major club like Rangers and get it back to the very top of the game on a stable and sustainable basis, additional funding will be needed, alongside a strong, experienced and highly professional senior management team.”
Hmmmm … it’s not like a hack to fall for PR fluff now, is it?
The real story is somewhat different …
http://bleacherreport.com/articles/125381-how-robert-sarver-set-the-suns-in-seven-seconds-or-less
The Truth Is Out There, as they say …
“And while Phoenix fans—and fans of basketball in general—enjoyed D’Antoni’s “seven seconds or less offense” for how it maximized offensive output, we can be sure that they are not enjoying Sarver’s similar efficiency in inexplicably tearing apart this once-proud franchise.”
easyJambo says:
January 4, 2015 at 5:01 pm
2 0 Rate This
King and the Three Bears about to be usurped by an £18M offer from the USA?
http://www.bbc.co.uk/sport/0/football/30674489
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Appears to be the exact opposite.
This guy emails his offer to buy all the new shares and take control for £18m, that info is leaked to King and the 3 bears who realise it’s now or never.
So they panic buy > 25% to block the new issue and put themselves in the driving seat.
Interesting times.
StevieBC says:
January 4, 2015 at 5:15 pm
Is this just an American squirrel? Or are we missing something fundamental in this saga?! And where’s Brian Kennedy… 😕
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It could well be a squirrel but which side has let it loose. Could be either.
But I’ll take a guess that it’s the 3Bears and/or King. The bidder might not follow-through but his entry into the fray could be to ensure a successful vote at an egm for disapplication of share rights.
I just don’t think Ashley & the Easedales could be seen to vote against a possible fresh injection of cash from the American. If they did it would destroy them.
And once the vote’s passed it doesn’t really matter if the squirrel quietly slips back to America. It’s job will be done and Ashley, Easdale and the mystery overseas spivs will either have to cough-up or face dilution.
That coupled with the 3Bears and King taking control of the Board puts them firmly in the driving seat.
However it remains to be seen whether they can raise enough capital either from the sale of shares or elsewhere to keep Rangers afloat financially.
So, who knows, maybe the American is for real. As always time will tell.
GoosyGoosy says:
January 4, 2015 at 5:36 pm
By Richard Wilson BBC Scotland
The owner of the Phoenix Suns basketball team has made an £18m offer to buy a controlling stake in Rangers.
http://www.bbc.co.uk/sport/0/football/30674489
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The Institutions have been wanting out at 20p for at least 3 weeks and this guy hasn`t approached them? Nonsense. Lets rephrase that.
The Onerous Spivs plus Ashley have been made an offer to buy their shares by a US Spiv fronting for Ashley. Next step will be an announcement by Ashley that he has sold out to his pal
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Anyone’s guess could be wrong and perhaps everyone’s will also be wrong.
We don’t actually know that this guy didn’t approach the institutional investors. Perhaps he did and that’s what has triggered the seemingly hasty moves by the 3Bears and King.
But it could be that the American has approached Ashley and those elusive furriners in their tax havens. But they are surely the ones with most to lose in the way of contracts – onerous or otherwise – which could happen if they lost control of the boardroom.
Always remember that boardroom control could be key to what happens to any contracts in a CVA because it is the company directors who remain in control during that process unlike liquidation or a full-blown admin.
So although anything could happen I see the Yank riding to the rescue to be more aligned to fellow outsiders knocking on the door than the incumbents who hold the key to the castle.
Still the show goes on and I mentioned earlier why should any media organisation actually spend time, money and effort to dig-up and check stories when Ibrox provides their bread on a daily basis.
@ModgePKR says:
January 4, 2015 at 5:32 pm
easyJambo says:
January 4, 2015 at 5:01 pm
King and the Three Bears about to be usurped by an £18M offer from the USA?
========================================
Appears to be the exact opposite. This guy emails his offer to buy all the new shares and take control for £18m, that info is leaked to King and the 3 bears who realise it’s now or never.
So they panic buy > 25% to block the new issue and put themselves in the driving seat.
=================================================
That’s my take as well and the timingcould fit as the guy seems to have got into gear ‘just after Xmas’.
The 3Bears and King just couldn’t delay although of course there might be more than meets the eye. But, either way, the dice are now rolling and the result could be a game-changer.
I know the craig whyte case with Ticketus is in january but what day, does anyone know.
Thanks for any replies
easyJambo says:
January 4, 2015 at 5:27 pm
12 0 Rate This
An alternative view of Robert Sarver as a “cheapskate”
http://www.brightsideofthesun.com/2014/8/4/5966117/going-gorilla-robert-sarver-is-not-escaping-his-role-as-villain-with
Phoenix Suns to Phoenix Rangers sounds about right though.
———
I honestly struggle not to be flippant on this blog (there are so many opportunities) out of sympathy for genuine bluenoses who do care solely about football, but this one you almost hope will come true just to have the ‘franchise’ renamed Phoenix Rangers. A totally appropriate title for the current entity.
Phoenix Rangers 😀
Danish, that is so funny. I’ve just snorted my beer over the keyboard. Double thumbs up
James Forrest says:
January 4, 2015 at 5:30 pm
I just read the Sarver story and found this bit particularly amusing …
“Sarver’s previous involvement in major sports shows that the £33m would just be an initial investment. If you are going to rebuild a major club like Rangers and get it back to the very top of the game on a stable and sustainable basis, additional funding will be needed, alongside a strong, experienced and highly professional senior management team.”
Hmmmm … it’s not like a hack to fall for PR fluff now, is it?
The real story is somewhat different …
http://bleacherreport.com/articles/125381-how-robert-sarver-set-the-suns-in-seven-seconds-or-less
—————————————————————-
I assume that you checked the date on that story and noticed it was from February 2009.
I know nothing about the Phoenix Suns and I know next to zilch about basketball and it took me a mere couple of minutes on google to see that they appear to have done much better in recent years.
I think it’s also important to recognise that Sarver has been owner since 2004 to date and has stuck with the club through good times and bad so he doesn’t seem to be a guy that’s in it just for the short-term.
However I have no problem in putting my hands-up to my ignorance of basketball and I will leave it to others with the necessary expertise to make an up-to-date assessment of the achievements of his club.
If you read the comments to the 2009 article it puts a wee bit more perspective on it and who knows maybe the journalist had a bit of an axe to grind.
However he lives in America covering a sport I know nothing about – either in the franchise system, the ‘picks’ or even the game, so I will hold my horses and not jump-into supporting or denigrating Sarver and his club on the basis of a 6 year old article.
Which ‘hack’ do you think fell for the PR ‘fluff’ btw?
Well I’m sure the Phoenix Sun owner will fit right in at Ibrox if his club mascot is anything to go by.
Tincks says:
January 4, 2015 at 6:52 pm
2 0 Rate This
Phoenix Rangers 😀
Danish, that is so funny. I’ve just snorted my beer over the keyboard. Double thumbs up
———–
The honour goes to @easyJambo. It was his quick wit that I repeated.
Why would any serious business person invest in Scottish football? There is no money in the game, no opportunity of a serious profit, let alone a return on initial investment. No TV or sponsorship deal, no chance of moving league to a bigger market & absolutely NO guarantee of regular European football, regardless of how much money one might throw at it?
Am I missing something?
EJ – apologies. 😳
One thing I will say about Phoenix Sun owner Robert Sarver is that he seems to have no problem in making political statements and of running his colours up the flagpole for all to see.
Disclosure of price sensitive information.
http://www.bbc.co.uk/sport/0/football/30674489
http://www.out-law.com/page-8300
At the bottom of the BBC article it makes the usual failure to distinguish between RIFC PLC and TRFC Ltd. Given the price sensitive nature of the information in the BBC article, one would have thought that they would have made the effort to specify about which company the article is referring.
The lack of comment to the BBC is hardly surprising given that there may be a suggestion of insider trading.
The AIM statement tomorrow will be interesting.
ecobhoy says:
January 4, 2015 at 7:09 pm
That will be the Orange strips back on the agenda then 🙂
Tincks says: January 4, 2015 at 7:08 pm
EJ – apologies. 😳
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No need. I picked it up from elsewhere too, along with Phoenix Suns of William, or Phoenix Suns of Struth.
If Somers really received an email incorporating a genuine £18m offer of funds from a genuine US “off the radar” businessman, why weren’t shareholders informed via AIM? Instead of which, we all get to hear about this on the BBC website which claims to quote verbatim an unnamed “source”. I smell a big fat rat, never mind a furry squirrel.
This company has been running on fumes for 12 months now, desperate measures have been needed to keep the lights on, but suddenly there is a queue of rich people who just can’t wait to drop many millions down the Ibrox black hole. Makes you wonder, doesn’t it?
The programme yesterday had the opposition as Airdrieonians.
Not AIrdrie United ..the fans were bedecked in the old Airdrie tops with what looked to me ,since looking at the old files, like the Old crest ( I may be wrong on that ) ie the one Jim Traynor tried to buy unsuccessfully from the liquidators .
The website tells the tale of the renaming deal with the SFA in 2013 ..’ After the CLUB was liquidated’
At the time I felt it was a sleekit wee tactical deal to hide behind as a precursor to a potential Rangers event ….The Doncaster dross the other day doesn’t change my mind
Btw for what it is worth Airdie fans were great yesterday and their team deserved to win ..and they are on a great run…and we need them in Scottish football of course we do.but they should be Airdrie United ..the real name of their company and their new 2002 club …eg How do the Old bankies fans feel about all of this?
Re Goosys ongoing conviction that Liquidation is inevitable for NEWCO…given all the obvious shenanigans going on behind the scenes..my sympathies for RFC are evaporating ..If it happens ..as in 2012 the 41 clubs should organise online votes re how their clubs should vote RE where RFC should restart ..and the choice should be Juniors or Lowland League..best case scenario.nothing else …I think I know what the answer will be .
This site has been dedicated in the main to ensuring we never get another carve up like 2012 ..we need to ensure it definitely doesn’t happen ..I suspect it will need the 90% plus vote avalanche from every set of fans all over again to get the clubs to comply
Finally as an aside I assume Mr Sarver has factored all those nice onerous contracts into his bid price .
I never understand the comment that King, or Ashley for that matter, will go to court to be allowed to get on the board or become owner. If either ever gets to that position then he will be ensuring the club’s extinction. When you are granted a membership of the association then you agree to abide by their regulations, I know, I know. One of those rules is not to take the SFA to court. We are still waiting for the punishment the last time that was done.
If you don’t want to play by the same rules as everyone else (again I know, I know) then hand back your membership and go play elsewhere. Oh sorry you can’t play anywhere else because YOU DON’T HAVE A MEMBERSHIP!!!
People have mentioned that we are the only association in Europe that has this rule. Well that only goes to prove that each association can make their own rules and that the clubs have to abide by them as each association creates rules based on their members/clubs directions. An example of this is that some associations have adopted FFP while others, including our own, have not.
If it was the case that all associations had the same rules then we could simply disband the SFA, get a copy of the German or Spanish articles, run it through Babble Fish and
bingo you’ve got an SFA(NEWCO).
As for Doncaster’s madness the other day, well it really shows how toothless and unimaginative our media actually are that he wasn’t asked why the club was docked ten points for entering administration and yet gained immortality when the CVA was rejected?
OR
If it was the same club why was it relegated three leagues for finishing 2nd in the SPL?
AND
Why were Naismith, MacGregor, and Whittaker allowed to leave for nothing as they were still under contract to the immortal club as this move MUST have been sanctioned by the SPL and SFA?
The Record take on the Sarver deal is interesting although impossible to verify at this stage.
They state that Sarver was in negotiations with the Rangers Board since before Xmas to buy 100% of the club’s shares which, if true, poses the question of how long-term Ashley intends to be there.
However ever suspicious I wonder what 100% of the club’s shares actually means. Nothing can be taken at face value that’s for sure.
I assume if he was prepared to sell his shareholding that he would have retained his various deals. But it the Record have got it right – and that’s a big if – it means that the Easdales and all shareholders they hold proxies for were going to sell as well.
And then we get a sleight of hand and end-up with a rabbit being pulled from the Board hat and landing in the lap of the 3Bears plus King.
It’s explained by the phrase that Sarver became aware of the ongoing power struggle and threw his hand in with the real Rangers Men.
I suppose it’s possible but I can’t see Sarver – who is CEO apparently of an American Bank – switching horses in the final furlong with the finishing line just a few strides away.
He would need to have been offered something that the Board wasn’t prepared to give IMO. It would be lovely to know what it might have been.
I would think it likely that the institutional investors would need to have been sounded-out as to whether they would sell to Sarver and have a good idea of the price he was offering if not the exact price.
I can only conclude they got a better deal from the 3Bears and King as having made a considerable loss on their initial investment they would want to recoup as much as possible.
I noticed someone query why these negotiations weren’t posted on AIM. Quite simply it’s the kind of insider knowledge that can’t be released and wouldn’t be until the negotiations were concluded and the various AIM requirements met.
Still if the Beeb and Record have got it right and it isn’t some kind of a set-up then the Board will be seriously rocked and it might well explain the Somers 4am emails.
I wonder if Mike enjoyed his holiday break?
wottpi says:
January 4, 2015 at 7:16 pm
ecobhoy says:
January 4, 2015 at 7:09 pm
That will be the Orange strips back on the agenda then 🙂
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I didn’t realise it had ever been off it – I thought if all else failed it was the last ace up the Ashley sleeve 🙄
Tailothebank says:
January 4, 2015 at 7:25 pm
“The programme yesterday had the opposition as Airdrieonians.”
IIRC, Airdrie United had permission to use the name – Airdrieonians, from someone, maybe the liquidators, as the original club had finally been liquidated.
ecobhoy says:
January 4, 2015 at 7:53 pm
I noticed someone query why these negotiations weren’t posted on AIM. Quite simply it’s the kind of insider knowledge that can’t be released and wouldn’t be until the negotiations were concluded and the various AIM requirements met.
========================
That was me. Either there should be full transparency, or total secrecy. What shouldn’t happen is price sensitive information being leaked through a “source” to the BBC or the Record. That is a clear breach of stock market rules- in my opinion.
😛
A belated thank you to the poster who referenced Pinky & The Brain. A worthy addition to the sites rich history.
Narf!
IIRC, Airdrie United had permission to use the name – Airdrieonians, from someone, maybe the liquidators, as the original club had finally been liquidated.
Which begs the question…………..
🙄
The Cat NR1 says:
January 4, 2015 at 7:15 pm
Disclosure of price sensitive information.
http://www.bbc.co.uk/sport/0/football/30674489
http://www.out-law.com/page-8300
At the bottom of the BBC article it makes the usual failure to distinguish between RIFC PLC and TRFC Ltd. Given the price sensitive nature of the information in the BBC article, one would have thought that they would have made the effort to specify about which company the article is referring.
The lack of comment to the BBC is hardly surprising given that there may be a suggestion of insider trading. The AIM statement tomorrow will be interesting.
===================================================================
The Daily Record is equally vague referring to: ‘100% of the club’s shares’.
There’s a bit of a clue in the BBC piece which states that Sarver submitted his offer to Somers by email and at the same time to WH Ireland, which manages RIFC’s listing on AIM. So that probably ties it down.
It goes on to say that Sarver wanted Somers to call a general meeting to have a re-run of the disapplication resolution where if 75% of shareholders voted in favour new shares could be issues to new investoirs such as Sarver. A vote on the disapplication resolution failed at the recent Ibrox agm.
Sarver apparently was offering £18 million to buy a controlling stake in Rangers – presumably the new shares – and £15 million to buy-out existing shareholders.
I assume some of the posters gifted with maths ability can make more of that that I can but I wonder how many existing shares £15 million could buy remembering that they too could purchase new shares to prevent dilution of their holding.
I’m still a bit unclear as to whether or when there is a reporting duty to AIM. Obviously any egm would require to be reported within the rules and the wording of any resolution given.
But what notification would be required for the £15 million spend?
And does insider trading rear its head if news of these developments escapes from the Boardroom?
neepheid says:
January 4, 2015 at 8:38 pm
ecobhoy says:
January 4, 2015 at 7:53 pm
I noticed someone query why these negotiations weren’t posted on AIM. Quite simply it’s the kind of insider knowledge that can’t be released and wouldn’t be until the negotiations were concluded and the various AIM requirements met.
========================
That was me. Either there should be full transparency, or total secrecy. What shouldn’t happen is price sensitive information being leaked through a “source” to the BBC or the Record. That is a clear breach of stock market rules- in my opinion.
—————————————————————–
I’m beginning to wonder whether the real plot here is to involve the 3Bears and King by inference that they must have learnt of the Sarver dealings and this prompted their purchases.
I obviously have no idea if that’s the case or not and don’t couldn’t even hazard a guess at what, if any, transmission route would have been involved. Indeed it might simply be a matter of coincidental timing.
But of course we are then left with the question of how price sensitive info reached the Beeb and Daily Record although the DR might just have ‘lifted’ the Beeb story.
All very exciting 😆
A lot of shares in this company have changed hands in the period since Christmas- around 40% of the total. If either the buyers or the sellers of those shares were in receipt of price sensitive information which was not available to the holders of the other 60% of the shares, or the public in general, then prima facie that is a case of insider trading. Just my opinion, of course.
It wouldn’t be a Rangers story if there wasn’t a billion in there somewhere 😯
Robert Carver in his day job is CEO and Board Chairman of Western Alliance Bancorp which has a Market Cap of $2.4 billion.
Well whatever the reality of the Carver bid the media will be able to get a few more days of sugar daddy dreams. Reading the quotes on the BBC article reminds me of so much that has gone before. It even reminds me of the positive press Craig Whyte used to get.
All is well with the world on the Darkside tonight 😆
I’m glad to hear he conducts business behind closed doors I mean imagine if the word got out to the DR and the Beeb 😆
smallchange says:
January 4, 2015 at 10:21 pm
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andygraham.66 says:
January 4, 2015 at 9:18 pm
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IIRC, Airdrie United had permission to use the name – Airdrieonians, from someone, maybe the liquidators, as the original club had finally been liquidated.
Which begs the question…………..
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Are you thinking we might soon be seeing the name ‘Rangers’ back on web sites, news reports, fixture lists and score sheets in the near future. :irony:
WRT the Airdrie United/Airdrieonians debate, I’m fairly sure I read somewhere that the SFA had agreed to AUFC changing its name to Airdrieonians only last year. Apparently, Jim Ballantyne had raised the matter following Sevco’s application to BDO to use ‘Rangers’ in their moniker. What’s good for the goose etc. Maybe any lurking AUFC/Airdrieonians fans could confirm or otherwise.
A surprisingly accurate report from the Daily Record:
http://www.dailyrecord.co.uk/news/local-news/airdrieonians-fc-liquidation-come-end-2825991
…and then:
http://www.airdriefc.com/news/2013/06/airdrieonians.html
🙄 🙄 😳
…and another report that doesn’t know what it is trying to say:
http://www.bbc.co.uk/sport/0/football/22762457
Re my earlier post at 725 …I hate reposting ..so sorry to be pedantic ..but Yes!..It was the SFA that agreed ..it’s on the Airdrie website
Ballantine is quoted at that time as saying and I paraphrase ..things have have changed since we went into liquidation …in other words after you know who got the nod then…..anything goes?
i do hope i am wrong .i really do …but it looks to me the SFA created by accident of their earlier actions with TRFC backing themselves into a corner or by deceitful design a precedent for ensuring Rangers (and everyone else )as a club ,name , colours, crest?? etc will be in existence for ever and ever no matter what happens to Corporate entities / liquidation etc ?
If so ..Mr Doncaster looks to be absolutely right… And that is just how it is now in SFA la la land ….How obscene is that?
The absence of a decent press and media has made RTC and in turn TSFM the go to sites for information as to all that is going on down Govan way.
The duplicity of the games administrators in the whole affair is to me the overriding story and in this absence of proper governance and enquiry by the press, bloggers and posters here have done their best to read between the lines and stitch together a narrative that approaches something close to reality.
With the lack of hard facts in the public domain a spectrum of possible scenarios has been set out by various posters, generally with one common thread – the end game not looking good for the Rangers.
The events of the last few days, the Three Bears, King and now Robert Sarver just leave me boggled. Could we be looking at the dream scenario for the Bears:
• A group of Rangers Men finally splash the cash to buy out the onerous spivs and or liquidate to achieve the same result
• The indestructible ethereal club continues in a new trading entity
• A real proper billionaire sugar daddy arrives to splash the further cash to get the Rangers back to their rightful place and hear the strains of Zadock the Priest
Correct me if I am wrong but Scottish football does not presently have any FFFP rules in place.
The only impediment would seem to be UEFA FFFP rules but I assume that clever men and clever lawyers might find ways round those rules.
The above coming to pass would truly be a Rhapsody in Blue 🙂 for some but the game would be a bogey. Why would any other team and their fans bother to turn up on a Saturday?
I feel dirty thinking that this is even a remote possibility.
Award winning journalist:
SOMEWHERE beside a swimming pool in the Caribbean, Mike Ashley has a decision to make. And he’s not just agonising between a pina colada or a pint of sex on the beach.
The Newcastle United owner might be sunning himself 4500 miles away from the old Ibrox curiosity shop but, even so, he remains positioned in the eye of the storm which continues to lash this battered club.
And which, this morning, threatens to blow it back into the most desolate state even despite the recent warm breeze of good news that has brought the likes of Dave King, Douglas Park and last night American money man Robert Sarver into the developing picture.
Getty/Stu ForsterMike Ashley
Much has been made of last week’s stock market manoeuvres that first saw wealthy fans Park, George Letham and George Taylor snap up a 19 per cent holding and then King follow them in for 15 per cent.
These were the first really meaningful moves by long-standing and high net-worth supporters of the club to do something practical about solving the issues that have been relentlessly ravaging Rangers for the best part of four years now.
Both parties insist they were acting independently but, even so, by buying up huge bundles of shares between them they completely blindsided a Rangers board which, with chairman David Somers at its helm, continues to operate in an ocean of bewilderment and is now sailing dangerously close to another financial disaster.
The cold truth is they have just a few days left now to avoid the next iceberg.
Phoenix Suns owner Robert Sarver is interested in buying shares in RangersRobert Sarver
The arrival on the scene of Sarver – owner of NBA outfit Phoenix Suns – is another possible lifeline for Rangers not least because he has already held discussions with Park’s consortium and sees them as allies in any potential power struggle against the current regime. But even though all this has provided a few rare shafts of light and hope for the Rangers support there is no escaping the fact their club remains in a desperately dark place.
The ship is holed below the water line and the cash-flow situation inside Ibrox is now so critical that Somers and his board are in a state of panic. They need significant sums of money in emergency loans and they need it yesterday.
In the past few days they have chosen to cash in on their most talented asset by selling Lewis Macleod to Brentford for a fraction of what the youngster’s market value is likely to reach. And they have also been railing against the authorities for withholding £250k to cover the cost of Lord Nimmo Smith’s probe into the use of EBTs.
Lewis Macleod: Leaving Rangers was tough
This appears a fairly paltry amount but the way the Rangers board has reacted to it being withheld suggests their financial situation is more dire than many imagined.
If it is true the loss of such a figure could place an “intolerable strain” on the club’s cash flow then it underlines the ineptitude of those running Rangers and the urgent nature of this cash crisis.
Which is where Ashley comes in. The Sports Direct magnate is a notoriously hard man to second guess but if he does have a plan for Rangers – and he surely must – then the next few days may finally see him show his hand.
2014 Willie VassDerek Llambias
With his right-hand man Derek Llambias already in joint charge of the club’s affairs as CEO, Ashley will know pretty much to the penny the full extent of the damage below the surface as well as the urgency of the situation.
He will understand, for example, that if Rangers are to be spared the pain and ignominy of a new insolvency event fresh loans will be required immediately.
The question now is, does Ashley have any intention of bailing them out?
There has been radio silence from the Londoner ever since he was blocked by the SFA from increasing his stake to 29.9 per cent and underwriting the release of 40m new shares.
If Big Mike has taken enough of a huff he might be inclined to let Rangers dangle over the precipice just to stick two fingers up at Hampden’s sixth floor.
Not only does he have the cash to keep the club alive but crucially, despite all the recent activity on the stock exchange and the fact his current 8.92 per cent holding is dwarfed by that of King and Park, he also has control of the board.
If King, Park’s group or even Sarver was to offer a loan this morning Ashley still has the muscle to have it turned down and also to provide the money himself in order to tighten his grip on the club’s throat.
Rangers: 2014 in pictures
VIEW GALLERY
However, any fanciful notions that Ashley might be ready to throw multi-millions into this basketcase in order to buy Rangers a place in the Champions League appear to have been torpedoed by the recent sale of Macleod.
So again the question must be asked, what is Ashley’s end game here?
Of course, it is not outwith the realms of possibility that administration could also be proposed as an escape route out of this mess.
But with so many sources of potential funding now available to them the board might struggle to justify the legality of such a move. A far more elegant and logical solution could yet be found but that would depend on Ashley accepting that he has been usurped by the men who have made it their collective aim to drive him out of the club.
PAMike Ashley and Derek Llambias together at NewcastleMike Ashley and Derek Llambias together at Newcastle
If he calculates that the sheer weight of shares is now against him – and that his board could not possibly survive a shareholders’ vote at an EGM – it might make more sense for him to strike a deal now with any or all of those parties driving the revolt against his regime.
That way he could protect his much-cherished merchandising contracts with the club while agreeing to step to one side and allow the new men to take control knowing also that a united support is likely to re-engage with the club and buy more of his shirts.
This would seem the logical step for Ashley and the best possible outcome for Rangers. But since when was logic and best practice applied to this particular club?
Pour yourself another one Mike. There’s some serious thinking to be done with your drinking.
HP at 1037.. Agreed ..didn’t see you post!
Someone who wants to buy 100% of a business doesn’t strike me as the sort of guy who would want to have pesky significant shareholders cramping his style. Ultimately, the Sarver photofit – and of course we should be cautious about jumping to conclusions – would appear, on the face of it, to be a guy who likes a bit of publicity to leverage his main business into a new market, and who most definitely would want to pull all the strings himself.
That aside, the much vaunted fan-ownership dream of various Rangers’ fan groups will most certainly have to take a back seat; or more likely just give up the seat altogether.
This new development will only muddy the waters. There is a distinct whiff of short-termism afoot, and as well as slowing down the momentum for fan ownership, it will kill off any hopes of an emergent Rangers being good neighbours in a FFP sense.
Yet more validation for my decision to embark on my own personal Scottish football embargo.
Tincks says:
January 4, 2015 at 10:56 pm
_________________________________________
Great post pal.
I too feel sullied at the prospect of this. This isn’t honest sport as it should be no matter what the SMSM put out.
“An error does not become truth by reason of multiplied propagation..”
Mohandas K. Gandhi
jean7brodie says:
January 4, 2015 at 11:52 pm
_____________________________________________
No, what I really wanted to say was “this situation re FFP” is a pile of f***ing sh!t.
Sorry Mohandas!
dedeideoprofundis says:
January 3, 2015 at 9:24 pm
Goosygoosy,
“The Institutions will have told the King/3 Bear Group that in Jan Ashley was set to apply another large loan that would lock in control of TRFC
1 The King / 3 Bears needed to act before Ashley installed his loan.”
————————-
This can’t be right as….
Phil MacGiollaBhain
@Pmacgiollabhain
I would not be surprised if the buyer of these RIFC shares was…ahem…close to the thinking of Big Mike.
31/12/14.
==—–++++++—-====
But maybe Phil had no notion of the 3 bears offer? Maybe this was the one he meant, and then…
GoosyGoosy says:
January 4, 2015 at 5:36 pm
The Institutions have been wanting out at 20p for at least 3 weeks and this guy hasn`t approached them? Nonsense. Lets rephrase that.
The Onerous Spivs plus Ashley have been made an offer to buy their shares by a US Spiv fronting for Ashley. Next step will be an announcement by Ashley that he has sold out to his pal
BTW this post by Goosy seems to have been deleted?
Robert Sarver- in the same mould as Ashley? 🙂
From http://wn.com/robert_sarver/biography
“After buying the Phoenix Suns, Sarver has received criticism from the media and fans[3] for his frugal approach to running the franchise. Particularly under scrutiny is his selling of numerous draft picks for cash, and his general aversion to going over the NBA’s luxury tax, despite being in a position to strengthen his squad and do everything possible to go for an NBA championship during Steve Nash’s (the Suns’ 2 time NBA MVP point guard) prime years. In 2008, ESPN Sportswriter Bill Simmons wrote an article about the Suns franchise in which he criticized moves made by Sarver and his team.[4] In a June 25, 2011 article, Arizona Republic columnist Dan Bickley wrote that Sarver was “widely considered among the worst owners in sports.” [5]
————
Maybe he’s changed since then, like a leopard changes its spots.
But as someone else asked earlier, why would someone of Jacksonian-measured wealth, in the States , think it worth his while to try to get a few piddling shillings in the Scottish football market?
In the past few days they have chosen to cash in on their most talented asset by selling Lewis Macleod to Brentford for a fraction of what the youngster’s market value is likely to reach. And they have also been railing against the authorities for withholding £250k to cover the cost of Lord Nimmo Smith’s probe into the use of EBTs.
=================
I thought the £250K was the fine LNS placed on RFC for not registering players properly?
The ten year period of administrative error that gave no sporting advantage……
I am somewhat puzzled?
The football club in Govan have been on life support for the past 6 months or so…and in that time they have been provided crisis loan after crisis loan on a monthly basis just to meet payroll…
This is a club that was sold to CW some 3 years ago…a club that had another American called Bill Miller look under the hood and said thanks but no thanks…an American who…if my memory serves me correctly…was introduced by Mr. Alistair Johnston…due to his North American business interests…since then the club was liquidated…a new club created…now we have 4 guys who purchase a block of shares…a block that had no meaningful effect prior to purchase…and we must assume still has no meaningful effect since their purchase…
Lo and behold…another American steps up to the plate offering to buy the whole shooting match??…Really!?
Some of the unanswered questions that are leaving me puzzled;
1. Where has this guy suddenly come from?
2. Who asked him to get involved in a Company playing football from Glasgow? as he has never shown any previous interest, when he could have picked up all the assets for 5.5 million 3 years ago?..so it is fair to assume he has been approached to put his name to a public comment?
3. Why has he given an interview with the BBC?
4. Why was his so called approach never mentioned at the AGM by sommers?
5. why has it taken 3 years for him to make an appearance? an 18 million pound appearance at that?
This doesn’t smell right…sound right or feel right…it has all the markings of a SMSM PR offensive…possibly to deflect everyone away from the 4 characters who have acquired a collective bulk of ineffective shares? Or to get fans back in the door…for the much needed match day revenue?
In my opinion…this guy has as much interest in the Company playing football out of Govan as I have in the weather on the Moon.
Which reminds me…has he ever had any dealings with a certain Mr. Johnston?
Interesting snippet about dual ownership buried in a match report:
” [Charlton manager] Peeters also said he was keen to sign 21-year-old ex-Celtic striker Tony Watt, who is at Belgian side Standard Liege, who are also owned by Charlton owner Roland Duchatelet”
http://www.bbc.co.uk/sport/0/football/30608662
andygraham.66 says:
January 4, 2015 at 10:58 pm
14 1 Rate This
Award winning journalist:
===========================
Someone has been busy last night. The Herald is also reporting this morning that another financial meltdown is imminent without emergency funding. We all knew that, but I’m not so sure the bears were all on message with it. What price another loan of a few million from big Mike, and if so at what point does doing this outweigh the benefit of protecting his retail contract?
Further to the Airdrie/Airdrieonians thread
The company did change it’s name to Airdrieonians too.
This was the original Clydebank company, hence the date of establishment
AIRDRIEONIANS FC LTD
SC042250
02-Jun-65
andygraham.66 says:
January 4, 2015 at 10:58 pm
14 1 Rate This
———
Andy, although Jackson and the DR are quite unconcerned about using other people’s articles, we might want to be careful about cutting and pasting entire articles here. In the current climate a publication could get stroppy if it sees its material pasted verbatim on another site — even a non-profit blog such as this 😉
Sandy Easdale putting his hand in his pocket to help out over the next few days. £500,000 secured against the McLeod transfer money.
…and Sarver has a month to get real, according to early announcements.
Good Morning
Someone seems to have set loose a lot of squirrels.
Don’t panic it is all PR spin to prevent THIRD RANGERS.
Mathematics is an exact science.Do the maths.
As any bean counter will tell you take a plain sheet of paper, draw a line down the centre and in one column write down what they have and in the other what they need.
The difference is crucial and the numbers don’t lie.
They are on life support and the machine is about to be switched off.
Another wage bill due in three weeks.
The SFA (laugh now) could end it all by asking them to prove that they have sustainability till the end of the season. If they cannot then the license should be withdrawn.
That won’t happen because there are too many in power who cannot stomach the thought of losing their beloved entitled ones.
They and the deluded bears are the only ones who need a Rangers.
The most competitive league in years proves that but they just won’t get it.
They will soon
Nothing Suns (see what I did there) up this pantomime from a media perspective than the yellow ticker on sky sports news trumpeting the billionaire yank, whilst they fail to report the keep the lights on 500k loan secured against an 850k player sale.
@Hoopy 7
This trading while insolvent lark is quite serious for the directors. How close are they to this point?
DP
In my opinion the company is already trading whilst insolvent.
No sooner had I posted this morning than an announcement has been made at AIM that one of the Easdale brothers have made an advance of £500,000 to keep the lights on until the cheque for Mcleod comes in.
This is no way to run any business far less a public limited company.
The plug is about to be pulled and will be unless someone’s ego gets in the way and they splash the cash to limp along.
Any other business would have been put to sleep long ago.
I think the love affair with Mike Ashley and TRFC/RIFC is over. Done. The messiah of a few weeks ago would not commit ALL of his millions to the cause and therefore became the enemy within. Where do they turn next. If the 3 bears and King do not pony up for a HUGE warchest there will be nowhere to run. The new money from America is just another big furry animal with a bushy tail.
With so many squirrels around we can be sure that real stuff is happening.
The SFA date of late January and the “put up or shut up Yank” nonsense we’re hearing now for early February is the biggest pair of rodents of all.
Convinces me the real stuff is happening imminently.
Share price up to 28p on prospects of a possible takeover. Will make it more expensive for anyone looking to gain control, including King and the Three Bears.
If this American Grey Squirrel really wants to buy a soccerball side, then he should have words with “Uncle Mike” Ashley, who can sell him one playing in black and white that will buy him some real business exposure, and which is actually making profits in Europe’s most broadcast league.
I would further suggest that he has a word with Bill Miller regarding the wisdom of investing in Ibrox. Bill might also fill him in regarding the warm reception he got from the fans once it became clear that he was going to treat his investment as a business, and not a conveyor belt to deliver endless moonbeams.
Meanwhile, back in Scotlandshire, what are our 3 native red squirrels, and the King across the water, playing at? Having just spent £5m buying shares, they then stand by and watch Sandy Easdale pony up a £500k loan just to keep the lights on? Can anyone make any sense of that? Unless Goosy is spot on, and the Board are refusing external loans so that they can control an imminent insolvency event?