Good Evening,
Whilst it is understandable that the continuing events at Ibrox remain a hot topic among all Scottish Football Fans — especially given the views of some sections of the press on such events– the never ending rush down the marble staircase is certainly not the only show in town.
The other morning we were treated to the “scoop” that Alistair Johnstone is afraid that Craig Whyte– the once proclaimed Multi Billionaire from Motherwell- may well still be pulling all the strings at Ibrox! This is a fear which is shared by those who walk the corridors of Hampden Park as they, too, are terrified of the prospect of Whyte returning in some shape or form and coming back to haunt them, especially as he has been deemed unfit and proper, banned sine die, and generally ridiculed for his past actions.
However, the Hampden jackets know fine well that their realm only stretches so far and that if by means of the proper application of company law, contract or some other piece of paper Whyte controls the shareholding of the self proclaimed “parent company” to the football club then they are in a fix. In fact, I will wager that they just would not know how to deal with such a situation as after all RIFC PLC neither holds a licence to play football nor is a member of the SFA and so, on the face of it, who owns it has nothing to do with them.
At this juncture, no one in authority knows who Blue Pitch Holdings are and, strangely, no one in authority knows who Margarita Holdings are either! Yet these two “holdings” whoever they may be, may well hold all the power down Govan way…… with the SFA completely powerless to find out who they are let alone get into any dialogue with them. All the SFA can do is talk to the appointed Directors and officers of The Rangers Football Club Ltd.
This, is a most unsatisfactory state of affairs.
Meanwhile, they will have no difficulty in finding out who the new shareholders of Dunfermline Athletic are. Those shareholders will come from the fanbase and will be clearly registered at Companies House, with the result that ultimately those fans/shareholders will appoint Directors who will then attend meetings and speak and opine on their behalf and in essence be the ” Voice of Dunfermline” at Hampden.
Perhaps, similar will follow from Heart of Midlothian?
However, those at Hampden — if they have any sense at all– will be most wary of events happening in the east end of Glasgow come November.
In the middle of the month, Celtic PLC will hold its AGM and amidst the items on the agenda is the fan driven notion that the Club— through its Directors—- should go further in holding the SFA to account and enquire into the granting of club licences, and in particular how it granted Rangers a club licence that allowed entry to the Champions League in 2011 when the small tax case was outstanding.
The Celtic board have deemed this motion as “Unnecessary” and in support of that contention have released documentation showing that they raised this very issue with the SFA on behalf of the shareholders and fans. Further– and here is the rub— The Directors reveal that they were not satisfied with the SFA response and have disclosed that they took the matter further and wrote to UEFA.
Ultimately, UEFA also provided a reply, which backed the SFA approach and which Celtic had little option but to accept in the absence of admissible contradicting evidence..
It is on this basis, that Peter Lawell and Co say the AGM motion is not necessary. Note that saying that the motion is not necessary, is not at all the same thing as saying that what the motion seeks to achieve is not necessary or does not have the support of the board!
There will be those at Hampden who severely hope that the Celtic Board are successful in voting this measure down as obviously they deem their original reply sufficient and would like to end the discussion there.
However, my own view, is that whether the motion is successful or not, there are those within the SFA who will recognise there is trouble staring them in the face here. Real Trouble!
Let’s recap for a moment and draw some threads together.
Celtic’s past Chairman, Dr John Reid, said only a couple of years ago that the SFA was clearly not fit for purpose. He did so in the context of events surrounding Neil Lennon and other matters, but was unshakably robust in his condemnation of an institutionalised uselessness which he saw pervaded the Hampden ranks.
Prior to that, Henry McLeish produced a report which stated that he too had concerns about the Governance of Scottish Football and called for openness and transparency.
In the intervening period, we have seen Mr David Longmuir, former Chief Executive of the Scottish Football League, find himelf without a position following reconstruction– and this partly as a result of club chairmen being apparently kept in the dark about his payment, bonuses and expenes. I understand that there was considerable anger from some at the way in which they had been treated by Mr Longmuir.
Then there is Mr Campbell Ogilvie, El Presidente, who himself benefited from a Rangers EBT and who held sway at Ibrox during a period of time when Rangers– by their own admission— made unlawful and illegal payments to three high profile players in breach of tax laws and SFA/SPL rules. It is these breaches and the consequent Wee Tax Bill which has caused all the angst among Celtic fans and has lead to the highly regulated legal step of tabling a motion at the club’s AGM.
Basically, the position seems to be, that as at the due date when the appropriate documents and declarations were made for a Euro Licence by Rangers for 2011, the wee tax bill was outstanding and due. If it was overdue, then the SFA could not and should not have granted them a licence……. and potentially Celtic should then have been put forward as Scotland’s representatives in the Champion’s League.
However, that did not happen, and Ranger’s were granted a licence– something that the Celtic Directors clearly felt was not correct.
They may have disagreed with the awarding of the licence because there were those at Rangers at the time who declared that a payment to account had been made to the tax office– allegedly £500,000– and that they had entered into an agreement to make payment of the balance by instalments. Had that been so, then all would have been hunky dory and no more would have been said.
Alas, however, no such payment appears to have been made at all, and no such agreement was entered into and so, on that basis, the tax bill was overdue and outstanding as at 30th June in terms of Article 66 and as such no Euro Licence should have been granted.
However, the argument does not end there.
Auldheid, has posted frequently on these pages about the ins and outs of the licensing provisions and the mechanism and so I will leave that detail to him as he is far more expert in these areas than me.
Now, one of the SFA functions is to have an auditor– someone who can check books, contracts, paper work and so on, and it is part of the SFA licensing function to be satisfied that all the paperwork is of course correct and in proper fashion before they issue any licence.
In this case, it is alleged that the SFA did not perform their function properly.
In relation to the wee tax case, it is said that either they did not make sufficient enquiry of Rangers re the payment to account or the agreement which they were told was in place. At the time it was mooted in the press that no such agreement was in place as at the relevant date ( June 30th ) and a simple check with the revenue would have shown the truth of the matter.
Yet, for whatever reason, no such check appears to have been made, and if you recall a Radio Scotland interview with Alistair Johnstone, Rangers submitted the forms, the SFA replied with one or two enquiries about the BIG tax case which were answered, and thereafter the Licence appears to have simply dropped through the letter box without further ado.
You will also recall that the existence of the wee tax case became known BEFORE Craig Whyte bought David Murray’s shareholding in May 2011. In fact it was the subject of News Paper headlines weeks before the deal was completed, and so the fact that there was a wee tax bill was well and truly in the public domain.
When it came to filling in the appropriate forms,either, the SFA were mislead by those then at Rangers with regard to that tax bill, OR, they simply failed to do the requisite checks and make reasonable enquiries before they issued the licence.
However, the uncomfortable fact also remains, that one of the chaps who must have been in the know re the admittedly unlawful and offending side letters, contracts and payments to the three players concerned was Campbell Ogilivie who was on the Rangers Board at the relevant time when the contracts and irregular payments were made under the Discount Options Scheme from 1999 to 2002/3. Indeed he may even have initiated the first payment to Craig Moore in 1999. I reiterate that no one has ever contested that this was an unlawful scheme, and the irregular payments and paperwork are not denied in relation to that scheme.
There are Celtic shareholders who believe, rightly or wrongly, that when it came to the granting of the Euro Licence, the SFA did not play them fair on this occasion and that the wheels within Hampden were oiled in such a way that Rangers were favoured and Celtic were disadvantaged. It is a point that looks to have already been considered by the Celtic Directors in 2011, with the result that they concluded that they should formally write to the SFA and seek clarification.
However, we now have the prospect of those same directors having to go back to Hampden and say ” Sorry, but I am forced to bring this up by my shareholders. I have a legal duty to them to enquire further”. Even if the motion is refused, the point has been made– there are shareholders who are demanding answers– just as shareholders of other clubs demand answers about the ever so secret 5 way agreement and other matters which have hitherto been not for public consumption.
The SFA have nothing to fear of course as they can simply repeat their previous answers,demonstrate that all was above board, and rest easy in their beds.
Except that answer did not satisfy the Celtic Directors on a previous occasion as they decided to take the matter to UEFA, and it would appear that some Celtic shareholders remain dissatisfied with the known stance of the SFA and so they want the Directors of the club to delve further. Without wishing to point out the obvious, if it turns out that the 2011 Licensing process was somehow fudged and not conducted rigorously or that those at Hampden were in any way economical with the truth or omitted certain details from the previous explanation, or covered up a failure in procedures—- well such omissions have a habit of becoming public these days whether that be through the internet or otherwise.
The point here is that the actions of Hampden officials are coming under organised, legal and planned corporate scrutiny over which they have no control. The Blazer and club mentality that was once so widespread within the governing bodies is under increasing attack and is being rendered a thing of the past.
In short, the move by Celtic shareholders, is making it plain that they will demand proper corporate governance from their club in ensuring that any alleged failure in corporate governance by the SFA or SPFL is properly investigated and reported on.
Of course, if it turns out that the 2011 Licensing process was somehow fudged and not conducted properly for whatever reason, then it could be argued that Celtic were disadvantaged in monetary terms along with other clubs who may have been awarded Europa League licences, then the consequences could be cataclysmic. Hence a tendency to circle the wagons rather than admit to failures in the process that need addressing.
It is this reluctance to come out and accept that the licensing process appears to have failed, say at what point the process failed and what needs to be done to address those failures that in many ways has driven the resolution. It is clear to all that something is amiss but the SFA will not admit it, probably from fear of the consequences of doing so? Perhaps some form of indemnity, a lessons learned enquiry with no prejudice might help?
It would come as no surprise to me at all if there were those at Hampden who live in dreaded fear of admitting that their processes were flawed and that a grave mistake was made. Under these circumstances, there may well be those at Hampden who simply wish that Celtic and their fans would just go away!
Ref the Spfl China deal. Actually the plaudits belong with Stephen the Saint in Asia who had the idea MONTHS ago.
GoosyGoosy! Missed your eloquent analysis of the Spivery! Chapeau! Welcome back!
A bit OT but while we are the subject of (alleged) large scale corruption and establishment cover ups
http://www.thedrum.com/phonehackingtrial
Celtic67 on November 4, 2013 at 9:44 pm
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Searching the name Murray on surnamedb.com made me smile.
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Haha, Malcolm will be having an identity crisis if he reads that!
Not The Huddle Malcontent says: (1011)
November 4, 2013 at 1:49 pm
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Hello peeps
So, the road to recovery for Sevco
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£1.3m to £1.7m gets you the whole ICT squad – their wages at least.
(… I know… For the same money, you could have an entire SFL1 footballing management team!!!)
slimshady61 says: (289)
November 4, 2013 at 9:22 pm
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Ah, but Slim, you’re forgetting the exonerative circumstances in the Bougherra case shirley…
But on a serious note, If, as alleged, it can be shown that the linesman man-handled the player as opposed to the ‘attempted strangulation’ charge(?!?) what does this say about our ‘honest beyond reproach’ offishuls? And where does it leave the SFA and their stance on said offishuls?
If 3 policeman can cobble a story together and, allegedly, happily perjure themselves in an effort to discredit an MP…
[EDIT to add:] No intent to comment on political persuasions or the like, just more evidence of the willingness of ‘incorruptable’ person(s) to lie.
£20M deal for the SPFL? I am really looking forward to the chunk of that which will find its way to the SPFL 1 & 2 teams. Oh, what? That’s right, the new super set-up was to appease the “championship” agitators. Has anyone yet quantified the benefit to the rest of the league teams as part of this amalgamation of SFL & SPL? If I could paraphrase the Clyde board here: “it’s better to be in the tent pissing out than on the outside..etc”. They were more eloquent and politic than that though.
Does the China deal mean that Peter Lawwell has done more for Sevco finances than Jim McColl?
Just saying like …
Scottish football needs a strong China (apologies to RL)
Seems Malcolm in the Muddle as per posts above may not be as 100% Scottish as he thought! This is what happens when you start spouting nonsense about sides of the fence!
Recorded as MacMurray, McMurray, Murray, Murrey, Moray, and possibly others, this famous and interesting surname is generally thought to be Scottish, may sometimes be Irish, and occasionally is English!
http://www.surnamedb.com/Surname/Murray
Exiled Celt says: (761)
November 5, 2013 at 1:08 am
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____________________________
I see what you are doing there, but can we – as a blog- rise above people’s ethnicity?
I don’t see how that can hurt anyone.
Fitba, aye.
Politics, nae – (unless it funny.)
Politics o’ fitba? – scrum* doon!
(* for the pedants, technically I am a scot’s geordie (comprehensively edjukated) who was allowed to play with balls of either shape and chose the spherical variety. This was just an analogy… OK?! )
Great news re: the PPLive deal. For those of you that don’t know, there is a huge betting market in Asia which this will be primarily aimed at.
Pplive is viewable in any country via streaming, although I suspect they’ll put geographical restrictions in place. Their website is pptv.com and if you use google chrome their translate feature makes it readable. Hopefully I can make this work in PH…
… hopefully they’ll also now get their finger out their *** and realize there is world markets willing to pay. Many tv stations are being priced out of English football and are looking for alternatives in Asia. Now is the time to pounce.
enough is enough says: (56)
November 4, 2013 at 11:59 pm
‘.Does the China deal mean that Peter Lawwell has done more for Sevco finances than Jim McColl?’
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Yes.
Lawwell’s brilliant negotiating skills, based on an appreciation of the other party’s fundamental reference point ( and with the Chinese, this is not always related to the immediate commercial profit motive) have secured monies, some of which will trickle down to the illegitimate new club.
And have also allowed Doncaster to claim some credit!
There’s always a downside!
But the deal will certainly be of benefit to Scottish football generally, and more so if individual clubs try to make themselves known to a mainland Chinese audience.
Resin_lab_dog says: (217)
November 5, 2013 at 1:10 am
Excuse me? You are berating me for raising this? Did you not listen to the interview this afternoon?
I have no issue with anyone’s ethnicity. Just think people in glass houses should not throw stones – and Malcolm really did do himself damage today!
stevensanph says: (188)
November 5, 2013 at 1:11 am
‘…there is a huge betting market in Asia which this will be primarily aimed at…’
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So we don’t mention the very lax attitude the SFA has to players who bet against the team they are playing for.
From what I know of the gambling mind, it hates betting on a ‘fix’ unless it has fixed the fix!
stevensanph says: (188)
November 5, 2013 at 1:11 am
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Great news re: the PPLive deal. For those of you that don’t know, there is a huge betting market in Asia which this will be primarily aimed at…
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Philosophical/hypothetical question:
Suppose this was Dungcasters idea all along?
Suppose he thought the old firm was a better sell than the SPFL?
Suppose he thought he could have got £60m, or £80m with a top flight blue nose outfit?
Would this explain his actions? Yes
Would it have been worth it? No.
Would it cut him the tiniest bit of slack?
Hmmm….. mebbes aye, mabbes naw.
Its his job to bring money into the game. and he would be maximising revenues. I can see how Neil might have genuinely felt he was doing the best for scot’s football.
But to bet legitimately on a sport, that sport has to be fair, aye?!
Otherwise .. what’s the point?
But lets cut dungcaster some slack… he really wanted the pretendgers in the top flight to sell his rights for more spondolees off the back of the old firm brand… all the clubs would see revenues off this? Who could lose?
I see a few SPL chairman buying this. Its buyable. In their shoes, I might have myself.
…..
Now lets go darker…
How much more would a SERIOUSLY CORRUPT football league be worth to the chinese betting syndicates than a clean one?
Not saying that this is what was intended by dungcaster and Lawell…. just saying that – without a SCRUPULOUSLY CLEAN – regulatory system, THIS IS WHAT WE WOULD HAVE ENDED UP WITH.
Its what we might yet see.
So erm… Campbell? Assuming you will be giving our governance a nice clean bill of health at Uefa then???
Nothing to see here… move along… etc…
Rangers in the SPL wouldn’t make the game more attractive to china or any other Asian country. No one supports or even knows Rangers out here (aside from expats). The Chinese buy the tv rights purely for betting purposes, which is a massive market.
The last time Scottish football made it onto Chinese tv was a channel called BenSports which was owned by a Macau based tycoon who literally pirated English and Scottish football coverage and sold to the multitude of sports betting agencies.
RANGERS fans and shareholders are expected to be forced to wait another six weeks for the club’s annual general meeting, as it emerged last night that Wednesday, 18 December has been scheduled as the date.
http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-fans-to-wait-another-six-weeks-for-agm-1-3173566
shawfieldtoteboard says: (6)
November 4, 2013 at 11:27 pm
8 2 Rate This
£20M deal for the SPFL? I am really looking forward to the chunk of that which will find its way to the SPFL 1 & 2 teams. Oh, what? That’s right, the new super set-up was to appease the “championship” agitators. Has anyone yet quantified the benefit to the rest of the league teams as part of this amalgamation of SFL & SPL? If I could paraphrase the Clyde board here: “it’s better to be in the tent pissing out than on the outside..etc”. They were more eloquent and politic than that though.
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And let’s hope there is an SPFL-wide benefit @shawfield, although the thing being based on betting syndicates makes you wonder.
Nevertheless, China is the rising star. But what will they make of the repetitive fixtures and the minimal promotion/relegation? Hopefully, not a lot and will ‘suggest’ some change.
Lord Wobbly says: (958)
November 5, 2013 at 6:28 am
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RANGERS fans and shareholders are expected to be forced to wait another six weeks for the club’s annual general meeting, as it emerged last night that Wednesday, 18 December has been scheduled as the date.
http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-fans-to-wait-another-six-weeks-for-agm-1-3173566
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All running to the predicted schedule M’lud. You’ve now got to question whether any controlled insolvency event could occur before that date.
Danish Pastry says: (1635)
November 5, 2013 at 6:50 am
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Unsurprisingly that article and any other I’ve scanned this morning make no reference to other statements made by Murray on Talksport. If he had spoken of the Protestant work ethic he would not have been any clearer in his views than he was. Why though would we expect the media to question him, especially papers like the Herald, who still employ a columnist who penned the article below not so long ago. Indeed, this very man was on Scotland Tonight this year. Would the Herald or STV employ a man who implied white people are superior to black people? I think not. Would the Herald or STV employ a man who implied men are superior to women? I think not. Would the Herald or STV employ a man who implied Protestants are superior to Catholics? It appears they do.
Edit: Just before I leave for work, it is worth pointing out the writer of the article below was the Herald Editor at one point. Make of that what you will.
http://www.therangersstandard.co.uk/index.php/articles/rfc-politics/136-rangers-protestantism-and-scottish-society
upthehoops says: (613)
November 5, 2013 at 7:11 am
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Unsurprisingly that article and any other I’ve scanned this morning make no reference to other statements made by Murray on Talksport …
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@upthehoops
It’s a side of Glasgow culture I’ve never understood, probably never will. Murray’s attempt to pin-point Brazil’s ethnicity based on a name was reminiscent of the stuff we heard coming out of the former Yugoslavia in the 1990s. He may have thought it was a throw-away remark but it revealed a great deal more about Malcolm than perhaps he himself realizes. I don’t listen to Talksport but I do hope AB is given the chance to discuss the matter further by a caller.
You know, in this country you have Danes with Swedish-sounding names and Norwegian-sounding names, but no one questions whether they are Danes or not. After a generation or two the children’s children belong fully to the country they were born and brought up in, no matter where their family arrived from. My own grandchildren, when they turn up, will be Danes who’ll probably not give their granda’s origins the slightest thought, neither should it be an issue for them. And I won’t be sending any tartan shortbread tins in their direction either 🙂
upthehoops at 7:11
Absolutely spot on.Murray and Reid’s blabberings very clearly shows that the WATP mentality is hard wired into their psyche.
Incredible really. CG makes it by a whisker
Wed 18th December the AGM therefore administration Monday 16th December. You heard it here first,
http://www.bbc.co.uk/news/uk-scotland-highlands-islands-24808992
Promotion for scottish football referee ! 😯
Danish Pastry says:
November 5, 2013 at 8:00 am
Pity about the shortbread DP. I know a man in Tennessee who makes the finest you ever tasted, and it’s to my mother’s (RIP) recipe. Do not deprive your grand weans of such a treat. After all I often buy my grand weans Danish Pastries. 😀
Fisiani says: (33)
November 5, 2013 at 8:14 am
7 1 Rate This
Wed 18th December the AGM therefore administration Monday 16th December. You heard it here first,
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And if Mr Irvine is looking for a press release at that time for The Brothers or Stockie he could re-use this Whytewash:
willmacufree says: (219)
November 5, 2013 at 8:54 am
2 0 Rate This
Pity about the shortbread DP. I know a man in Tennessee who makes the finest you ever tasted, and it’s to my mother’s (RIP) recipe. Do not deprive your grand weans of such a treat. After all I often buy my grand weans Danish Pastries.
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Haha, the shortbread in question was entirely metaphorical 🙂
First-generation immigrants like myself are not always very good at letting their kids integrate. You have to make a conscious decision when your kids are small to let them become part of a ‘foreign’ culture, the result possibly being that your own offspring will become partly foreign to you. It’s another kind of letting go. But it’s for their best in my opinion.
Anyway, my son came home from Copenhagen with Irn Bru the other day … some enterprising soul has got the drink in 7/11 over here. Belhaven and Crabbies are also available (my kids noticed Crabbies at the Hibs game btw) and multi-variations of non-metaphorical shortbread are available in most supermarkets! Hootsmon, etc 😀
Excellent performance by Aberdeen. Good football , pleasant on the eye ( well done Thistle too .you just need a front line ) 4 great goals ,a nice blend of youth and experience and most importantly a real solid looking back line .
Per the blog a month or so back..Does Champions league group stage opportunity knock for the Dons ?
I really hope so …..and hope they can build on what they have ..not have to let the young boys go.
Watching a poor St Johnstone last week and considering recent and likely managerial moves .looks to me the old new firm are currently best placed to make the breakthrough hopefully with Hibs not far behind them
A cleaning out of the SFA and a regional side in the CL group stages next year would just perfectly. complete phase 1 of the Scottish football renaissance very nicely and leave the term Armaggedon to describe affairs elsewhere in Scotland
http://www.bbc.co.uk/sport/0/football/24809195
BBC claim they have knowledge that TB has agreed terms with Hibs
ICT chairman says they’ve had no club approach then for TB’s services and that the BBC must be talking and printing Caic.
No change for the BBC there then.
Next they’ll be telling us that Rangers still exist and that Dave King is a fit n proper bloke !?
Fisiani on November 5, 2013 at 8:14 am
Wed 18th December the AGM therefore administration Monday 16th December. You heard it here first,
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That’ll be the Oxford Dictionary definition of ‘Christmas coming early’
Yesterday Malcolm Murray said this about the known institutional investors: “In terms of institutions, we do know who the major shareholders are. They are very shy, retiring people. They are Hargreave Hale, Artemis, Reverend Mercantile, Miton, Kames Capital and Laxey Partners.”
One of these investors seems to be more ‘shy and retiring’ than the others. Does anyone know anything about ‘Reverend Mercantile’? It is not an investment company that I’ve heard off and Google does not seem to have heard of them either.
On Sunday, the players of a certain Glasgow football team will be wearing a special poppy-emblazoned top “to show their support to fallen soldiers.” The club will also be selling to its followers poppy-emblazoned tops (£49.99) and scarves (£7.99) “with a percentage of the sales from both products going to Poppyscotland’s Scottish Poppy Appeal.”
Because this same club recently pocketed the proceeds from a friendly match that were intended for a charity, am I the only one who suspects that the unquantified percentage donated from the sale of these products will be miniscule at most?
Hartsons Comb says: (14)
November 5, 2013 at 10:10 am
2 0 Rate This
On Sunday, the players of a certain Glasgow football team will be wearing a special poppy-emblazoned top “to show their support to fallen soldiers.” The club will also be selling to its followers poppy-emblazoned tops (£49.99) and scarves (£7.99) “with a percentage of the sales from both products going to Poppyscotland’s Scottish Poppy Appeal.”
Because this same club recently pocketed the proceeds from a friendly match that were intended for a charity, am I the only one who suspects that the unquantified percentage donated from the sale of these products will be miniscule at most?
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Apparently the tops are normally £44.99 and it is the extra £5 that is going to the poppy appeal. So in order for you to give £5 to the appeal you have to give RFC £44.99 as well. Please, please tell me they are not that gullible 🙄
Hartsons – it was mentioned before … the extra £5 that these tops cost is going to the charity. Meantime, Rangers make exactly the same money from each top sold at the regular £44.99 price.
How exactly do you show support to fallen soldiers, anyway? Show respect, yes, but unfortunately they won’t be needing much support anymore.
While it could do with an expert’s opinion it looks like the AGM is going to be help around the time that the lock in ends.
Therefore the can the Spivs sell up on the day the AGM, abstain in any vote and then leave town?
Alternatively do they accept that the writing is on the wall and they will accept a ‘GTF’ the vote thus giving them the ideal excuse to sell up directly after the AGM. Afterall who would blame them for hanging around?
If they do a runner taking whatever they can get from selling their shares, how long after the AGM will it take for and orderly transfer and one of the new blue knights to gain access to the accounts?
In that scenario my guess is that the balance book will be wrapped up with a nice big red white and blue bow ready for opening at Christmas. The contents may not be what some people were hoping for.
The above doesn’t deal with the possibe transfer of assets from the RFCL to RIFC before the AGM but its good for a laugh anyway!!
Ok, we know that a football team needs to generate as much revenue as possible, especially a team in dire financial straits. However, to use an event like remembrance day to get extra revenue for the club is probably one of the most reprehensible acts I can think of.
Danish Pastry says:
November 5, 2013 at 9:18 am
Haha, the shortbread in question was entirely metaphorical
First-generation immigrants like myself are not always very good at letting their kids integrate. You have to make a conscious decision when your kids are small to let them become part of a ‘foreign’ culture, the result possibly being that your own offspring will become partly foreign to you. It’s another kind of letting go. But it’s for their best in my opinion.
Anyway, my son came home from Copenhagen with Irn Bru the other day … some enterprising soul has got the drink in 7/11 over here. Belhaven and Crabbies are also available (my kids noticed Crabbies at the Hibs game btw) and multi-variations of non-metaphorical shortbread are available in most supermarkets! Hootsmon, etc
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You’re right of course. Now if your kids saw Heavy available…….?
I’m no Michael Fish but if you foolishly asked me for a prediction it would be this. That at a carefully stage managed AGM the blue knight of choice confirms he now has shareholder support to rapturous applause. Secondly he can name the board of his choosing again to rapturous applause. Then, the coup de grace, out is whipped the deeds to Ibrox probably with CL music playing in the background. Rapturous appluase doesn’t even begin to describe the scenes. Certainly it is sufficient to drown out the questions from the floor, “so how big a war chest will the new board have to spend?” and “has the leccie been paid this time?”
Mean while Green, McCoist et al are out the back counting up what ‘x’ million multiplied by 45p equals, take away…..oh no hang on, there’s no purchase price to take away is there. Green & Co heads for the sun set with no fears of retribution which, lets face it, if they had switcheroo’d the property assets (at least of Ibrox) wouldn’t be far around the corner.
A few ponderables of course. Where do the Easdales sit in all of this? Where does Whyte and Ticketus sit in all of this? Maybe Green&co do have the balls and have squirrelled away the ground and training park. Good luck to them opening their Christmas mail if they have. Probably most importantly, once the AGM sherry and Campbells home bakes are quaffed how long can the sevco club continue with no cash?
Just my opinion.
Reverend Mercantile (Made up true blue asset brokers) = River and Mercantile (Real asset brokers).
Simples.
Thanks highfiber.
I’m a bit mystified by this AGM delay business. It seems to me that the current Board have the votes to carry the day, so why not get it over with? Of course it will be VERY unpleasant, whenever it takes place, but I wouldn’t have thought that would bother either of the current directors.
Is the lock-in really relevant? Surely nothing that happens at the AGM can stop the spivs selling up when it suits them? I doubt if any sales will be on the open market, by the way. I’m guessing that the deals are already in place.
Smugas says: (487)
November 5, 2013 at 10:59 am
I’m no Michael Fish but if you foolishly asked me for a prediction it would be this. That at a carefully stage managed AGM the blue knight of choice confirms he now has shareholder support to rapturous applause. Secondly he can name the board of his choosing again to rapturous applause. Then, the coup de grace, out is whipped the deeds to Ibrox probably with CL music playing in the background. Rapturous appluase doesn’t even begin to describe the scenes. Certainly it is sufficient to drown out the questions from the floor, “so how big a war chest will the new board have to spend?” and “has the leccie been paid this time?”
—————————————————————–
Sad but true, deal done!
I will go even further by predicting there will be more negative press about The Celtic AGM than there will be about The Rangers AGM.
Quite a few on TSFM are predicting an imminent insolvency event at Ibrox either before or just after the turn of the year, I’m not quite following their logic. I recognize the potential dangers, more especially if the spivs were to retain control after the AGM, but not the timescale.
Deloitte gave the going-concern ok for 12 months because of a 2.5M unsecured loan facility that was provided by someone or group preumably on the spiv side.
Using worst case scenario, spivs retain control.
The projections that Stockbridge offered saw a balance of 1M cash in April 2014.
Since, there have been various extraordinary payments that will have eaten into that. Considering the track record of BS, let’s say he is a month plus 1M out and the unsecured loan has to be called upon in March. The 2.5M takes you towards ST renewal time.
That isn’t a prediction, it’s just a hypothesis to put out there. I now ask those who see an IE around the turn of the year to spell out what happens to the cash.
The Easdales have, in my opinion, been ‘duped’.
When the Charles Green’s consortium were trying for a CVA last year it was reported that the £8.7m would be in the way of a loan to RFC. When that failed and he purchased the assets for £5.5m was that also tied into a loan arrangement ? In other words were the people who put in the funds to pay Duff & Phelps repaid with interest from the share issue and season ticket money ?
I’ve spent some time looking back on Google this morning but can’t find a definitive answer.
2012 was a leap year, so are the penny shares punted the day before AGM, on the day or the next day. Just askin like.
Interesting if there’s yet more duping.
When’s the Fire Service on strike?
Greenock Jack says: (145)
November 5, 2013 at 11:33 am
On the serious side I have always said that T’Rangers were walking on a tightrope and there was always going to be the possibility that they may just manage to get past the finishing post to the next influx of season ticket money. I have also spoken of the fact that if it were a matter of a few million then someone like McColl or King may just scatter the cash to keep the show on the road.
However that all requires significant financial prudence and management to run a tight ship.
There has been very little evidence of that over the last 12 months. It is also the case that from the accounts we know that as of 30 June 2013 the RFCL was in debt to the RIFC to the tune of £16m. What that figure will be by the end of the season (or even now) – who knows?
Therefore if you want to balance the books year on year for the whole T’Rangers group then all the season ticket money needs to go back to the Plc otherwise the Plc will be in danger of hitting the buffers as does nothing to generate income. The only option the Plc has at presetn is to have further share issues, seek cash from undefined ‘fundraising exercises’ or take out overdradfts and loans. The fact is that as in the past the whole thing is being kept afloat ‘technically’ due to the accountants trick of off setting the internal debt against the main assets, which as we know the figure is plucked out of the air.
Continuing on the same course just means that by the time T’Rangers get to the premiership the Ltd will be in massive debt to the Plc who will once again require further cash injections and be in the exact same place the oldco ended up.
Unless someone stops this cycle the whole thing will fall apart once again.
McColl et al may be the ones to stop the rot but even if they do it will then be a long haul to get back to the top as there will be no new signings, Wallace and a few other will move on etc etc.
Greenock Jack says: (145)
November 5, 2013 at 11:33 am
==================
I reckon things will become much clearer in the days after 7th December when the 1p shares are able to be traded. This is probably the last big pay day for the spivs and if the shares are sold the way they want them to then there will be little point in them hanging around anymore. The club will be put into administration with considerable debts owing to the parent company (and probably, for old time sakes, an amount owing to HMRC) The penniless club will then pass on to Rangers minded people who will pay a rental for Ibrox and Murray Park. Rangers Mark III will then be run as a viable business as it should have been last year.
Pure supposition on my part Jack. (The viable business part)
😉
upthehoops says: (613)
November 5, 2013 at 7:11 am
I may have miss read the article but after reading it again I still find it hard to understand your comments on Harry Reid.
I’ve always found his writing to be honest and he is prepared to speak about issues that others choose to ignore. In the following article, also from Rangers Standard, see how he describes McCoist. Harry really gives him it with both barrels, he also has a real go at the fans.
http://www.therangersstandard.co.uk/index.php/articles/fan-culture/143-why-i-dislike-rangers-ii
I’m still not sure who an insolvency event benefits. I would imagine that should there be one the appointment of a friendly administrator would be crucial, but what would be the game plan.
Assuming the administrator is appointed by the Easdale/Blue Pitch etc side what would they hope to achieve.
▪ There will be few creditors to bump, so that isn’t a benefit
▪ You risk having the same club argument blown away , if the SFA give a first time penalty of 15 points, & if they award the multiple offender penalty of 25 points you risk not getting promoted
▪ You risk losing playing assets as the players cannot be forced to TUPE, however the business cannot reduce their contracts, they can only have the administrator fire them. This would also apply to McCoist & Co, however this risks the season ticket sales pitch, as it’s a certainty Smith won’t step up again
▪ You have to pay an administrator, and as was seen last time, even with a friendly face, this can be much more expensive and lengthy than originally planned
▪ You risk a competitive bidding process where you may lose out. Even with a friendly administrator
Now I am not saying it won’t happen, however unless there is absolutely no money available from the Easdale/Blue Pitch side I think there are more likely options.
The most likely is Easdale/Blue Pitch go for a rights issue in March. There have been very unsubtle suggestions from Murray &Co that Green & Co’s original consortium have already had their money back via various fee’s and commissions, as well as pay off’s. They are effectively sitting on an investment that cost them nothing. They are still in a strong position and may well be prepared to put in some money.
The current share price is 48p. Should they go for a discounted rights issue at 35p , and say they were prepared to invest around £7.5 million this would effectively give them another 25% of the total shares issued after the rights issue, assuming nobody else invested . The alternative is that Murray & Co would have to match should they want to maintain their position, and Easdale/Blue Pitch then have control of the board and significant extra funds at their / the clubs disposal.
The upside for Blue Pitch etc is that if Murray & Co don’t invest then they can be accused of “all talk no trousers” as well as having a controlling interest that will be unchallengable. Should Murray & Co’s claims regarding fundraising commissions, fees and pay offs be correct, then Blue Pitch & gang may well end up with a more than 50% stake in a business which will have raised overall in excess of £35 million despite having only paid £7.5 million
Somebody has been played here, and it’s not Green or Blue Pitch or any of their pals
How many live ties are there as the tv companies have a serious issue in covering “the journey meeting new friends” with Hearts v Celtic out too
Greenock Jack says: (145)
November 5, 2013 at 11:33 am
You are indeed correct to focus on the cash-flow, I guess Ranger’s problem is that the individuals’ stating the cash position have such little credibility and who knows what monies have been spent over and above the plan. Simply put, I don’t believe anyone (outwith the Rangers Accountants) was any idea when the cash will run out, you could wake up tomorrow to screaming headlines who knows.
I suspect the begging bowl is out already to wealthy fans …..
R26
If this or something similar was on the cards, why doesn’t the share price bomb, sharply ?
(why don’t the institutions look to sell ?)
Is there a precedent for a UK football club being put into admin by their holding company, who then (shareholders) look to profit out of the deal, at a cost to the club ?
Barcabhoy says: (262)
November 5, 2013 at 12:21 pm
A share issue in March 2014 (if it gets that far) will merely keep the wolf from the door. Why invest in a proven loss making business, unless you have a magic wand to re-structure the business? I know there are mugs out there and also Rangers supporting organisations who will pony up some money but without a radical strategy to re-align costs with revenue and a credible individual to lead such a strategy then the begging bowl from the Eadales / et al, will be lucky to be half full.
I suspect the Rangers fans know that what the club needs is a proper Administration and the current board removed, every last one of them ….. I also suspect a classic split along pro and anti- Admin camps …… if indeed it does not already exist!
How does Malcolm Murray know who the institutional investor are.
He apparently said “Hargreave Hale, Artemis, Reverend Mercantile, Miton, Kames Capital and Laxey Partners.”
Yes, if they own 3% or more, they are identified, but if they do not then their name is not made public unless they choose to do it themselves.
Mr Murray hasn’t been on the PLC board for quite some time, so where does he get this information from and why exactly is he discussing commercially confidential information on radio.
He is either guessing, or broadcasting leaked material. Neither is a particularly clever thing to do.
Greenock Jack says: (146)
November 5, 2013 at 12:30 pm
1 0 Rate This
R26
If this or something similar was on the cards, why doesn’t the share price bomb, sharply ?
(why don’t the institutions look to sell ?)
Is there a precedent for a UK football club being put into admin by their holding company, who then (shareholders) look to profit out of the deal, at a cost to the club ?
=====================================
Sandy Bryson is currently working on this. He believes that if the holding company puts the subsidiary into administration then they technically aren’t really in administration as the holding company knew all along that the subsidiary didn’t have any money. Just has to dot the i’s and cross the t’s before it becomes law. Pass go and collect two semi-finals.
Barcabhoy
Based on everything that is out there, how the spivs have operated and what they have said all the way through this I see the scenario you paint or similar as being more likely than imminent IE.
edit
That is if the spivs retain control, I’m hopeful that they won’t although would be aprehensive at whatever plan B they may have.
Barcabhoy et al….
Are we not just in the situation where RIFC can declare their 👿 intention 👿 to put TRFC into administration? Unlike the CW version they have complete control over timing and selection of administrator and also any transfer of assets….
It won’t come to administration of course. ‘Rangers men’ are ready and able to step forward and pay £1 for the ‘club’ to save it from all the palaver that arose when another similarly named club went into administration.
It’s all like some really bad version of Groundhog Day.
BTW who would logically provide a guarantee of £2.5M so that RIFC is adjudged to be a going concern? A director perhaps? As we’ve heard nothing about such a guarantee being withdrawn does that narrow the field? Or maybe it’s Imran mother….
Scottish Football needs a strong Arbroath. (sorry I jinxed you yesterday Partick!)
Reilly1926 says:
========================
If the PLC sells the Ltd Co (club) to anyone else then it will not be Rangers 3, it will still be Rangers 2.
If they go into administration and come back out, then it is the same company and the same club. The administration process does not kill them it is the liquidation process which does that. Rangers died becuase there was no way out of administration and as such the club is being liquidated. That would not be the case if the club went into administration and came to an agreement with it’s creditors to settle debts. Even if that included new owners.
EK Bhoy
I am not suggesting what should be done, I am suggesting what may happen. If they raise anywhere near £10 million and put a 20% increase onto ticket prices, as well as getting McCoist to actually take a pay cut and one or two other area’s where they could cut costs, they could just about get to the top tier without running out of cash.
They will then potentially have a business that could have a bank facility, and would be able to go back to the market for a further cash call.
Now there are potential road blocks along the way, not least what will Whyte do, and these may derail their plans anyway, but you would have to imagine that there has to be some kind of plan to kill off opposition from the requisitioners, or at the very least to kill their credibility
All ties will be played on the weekend of 30 November and 1 December.
Scottish Cup fourth round draw:
Falkirk v Rangers
Albion Rovers v Motherwell
Culter or Berwick Rangers v Dumbarton
Clyde v Stranraer or Auchinleck Talbot
Dundee United v Kilmarnock
Queen of the South v St Mirren
Stenhousemuir or Annan Athletic v Fraserburgh
Brechin City v Forfar Athletic
Alloa Athletic v Stirling Albion
Ross County v Hibernian
Dundee v Raith Rovers
St Johnstone v Livingston
Partick Thistle v Aberdeen
Hearts v Celtic
Ayr United v Dunfermline
Inverness Caledonian Thistle v Morton
Wottpi says: (1256)
November 5, 2013 at 12:04 pm
Legally would McColl or King be able to
“Just scatter the cash to keep the show on the road”
I thought there were rules (I know, I know) that had to be followed regarding cash injections to a company.
Tif
How does Malcolm Murray know who the institutional investor are.
He apparently said “Hargreave Hale, Artemis, Reverend Mercantile, Miton, Kames Capital and Laxey Partners.”
Yes, if they own 3% or more, they are identified, but if they do not then their name is not made public unless they choose to do it themselves.
Mr Murray hasn’t been on the PLC board for quite some time, so where does he get this information from and why exactly is he discussing commercially confidential information on radio.
He is either guessing, or broadcasting leaked material. Neither is a particularly clever thing to do.
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I think you’ll find the institutions named won’t have a problem with being named.
Some have more than a the 3% shareholding anyway.
“Reverend Mercantile” is not what he said.
Try saying “River and” quickly and you’ll understand.
Some have tried to make a lot out of little.
Others have simply seen poor MSM reporting.
Barcabhoy says: (263)
November 5, 2013 at 1:07 pm
It is all crystal ball gazing …. for me the entire situation stumbles from one crisis to another (there is no plan!) , the only constant being that the current owners : dip into the cash whenever they want; set-up deals with their own companies / suppliers; make numerous delusional terminological in-exactitudes ………. I sense that some of the Rangers fans are awakening from their slumbers but the SMSM will still not call out the current Board to get out of town, for the worry that it may trigger another ADMIN ……..
….. there is no plan, trust no-one would be my watchword for the players in this drama
Greenock Jack says: (148)
November 5, 2013 at 1:29 pm
—————————————————————————————————————————————
The £2 1/2 million will be the Korissa Capital Corp cash.
The Kames Capital investment is on behalf of McColl via a mutual board member of The Weir Group.
All in my humble opinion, of course.
EKBhoy
It is all crystal ball gazing …. for me the entire situation stumbles from one crisis to another (there is no plan!) , the only constant being that the current owners : dip into the cash whenever they want; set-up deals with their own companies / suppliers; make numerous delusional terminological in-exactitudes ………. I sense that some of the Rangers fans are awakening from their slumbers but the SMSM will still not call out the current Board to get out of town, for the worry that it may trigger another ADMIN ……..
….. there is no plan, trust no-one would be my watchword for the players in this drama
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////
I believe there has to be a general strategic plan drawn up by the spivs that is modified when required. The day to day stuff is less important, fills the newspapers and invariably blows over.
Occasionally, the day to day will have a significant bearing on the strategic.
To have an idea of what the strategy may be, it would help if you had an experienced spiv to consult, or better still a pool or team of them that come from different angles. Do spivs have a messageboard or can the SFO facilitate a list that the BBC could invite onto Newsnight ?
I think the outline will be to dig-in, do whatever they think necessary to retain control, continue to skim, then be creative and somehow find investment (they may need to partake themselves)/increase ST prices, all the while spinning like there is no tomorrow. The requisitioners need to take this chance (AGM) and head them off. At this point spivs would have plan B to get by.
Quote from Malcolm Murray’s Jingoistic and borderline racist interview on Talk Sport
“Rangers are gigantic. One of the reasons I was asked to become chairman by the institutions was that I was Manchester United’s biggest shareholder. When I bought a quarter of Man United it was almost exactly the same size as Rangers are now. And it has turned out to be a giant global brand.”
Now leaving aside for a second the complete bunkum of his claim, and look at this section “When I bought a quarter of Man United” . What the truth is of course is the fund where Murray was employed as a manager bought the holding for their investors. Not Murray personally. However it does highlight the mentality of these people. They think it is their money, they talk as if they have substance way in excess of reality. The truth is none of these mouthpieces ever spend their own money. It’s the banks, or its investors unless the amounts are relatively small.
Yet Fergus spent his own money, so did Dermott so did Tom Farmer, so did John Boyle and Stewart Milne and the Browns at St Johnstone
Rangers FC , really should be OPM FC
EKBhoy says: (131)
November 5, 2013 at 2:07 pm
Barcabhoy says: (263)
November 5, 2013 at 1:07 pm
It is all crystal ball gazing …. for me the entire situation stumbles from one crisis to another (there is no plan!) , the only constant being that the current owners : dip into the cash whenever they want; set-up deals with their own companies / suppliers; make numerous delusional terminological in-exactitudes ………. I sense that some of the Rangers fans are awakening from their slumbers but the SMSM will still not call out the current Board to get out of town, for the worry that it may trigger another ADMIN ……..
………………………………………………………………………………………………………………………………………………..
….. there is no plan, trust no-one would be my watchword for the players in this drama
……………………………………………………………………………………………………………………………………….
……………………………………………………………………………………………………………………………………….
Gentlemen I am so convinced there is a plan I’d wager a guinea on it.
It started as a simple phoenix using trusty pair of hands, Craigie boy who as we have seen turned a wee bit rogue and changed the original plan to suit.
And yes maybe sometimes the world has got in the way of the Whyte plan and unforeseen changes were needed but the end game is the same and is about piles of cash for Whyte and his pals. (I may be wrong but I think he and Green are still pals as are the rest of the spivs at Corsica’s Zurich Planning Meeting in summer 2012) And King was there with them and maybe had a designated role.
What we have all seen since in slow motion is a football club first bankrupted by a man with a titanic ego then in danger of going bust and being sold for a pound to the son of a pal.
A nice wee earner that didn’t quite work out after a disastrous euro campaign or two and some internet bampots.
The after Hector stepped in the club was bizarrely sold on at a fraction of its real value by what you could think were complicit administrators – and sold to Craigie’s wee pals too.
Since then we have seen it being expertly and ruthlessly asset stripped.
The final part of the plan is handing the shell back to the fans who will of course have to pay handsomely for the privilege – again.
The club which will still be Rangers and play in blue with whatever happens will either have to re-purchase its real estate from its ex-parent company or rent them going forward.
Key dates in the next few weeks are when the club runs out of cash at the present burn rate and the day the spivs penny shares become trade-able because they still believe they can sell it as a going concern rather than liquidate it again.
A ruthless and very successful plan by Craigie and his team.
He is nearly there and in this crazy world probably deserves to be considered for the planning award at the next Glenfiddich Scot of the year awards.
I only ever post on here regarding the business aspects of the Rangers business. I never take any side except perhaps the side that says decent working class people should not be systematically robbed by a bunch, and I mean bunch, of rogues. However as a very proud Scotsman with a set of Irish grandparents I was appalled at the tone of the Malcolm Murray interview. I sent it to one of my Rangers supporting mates and he was equally appalled. There is no hope for the future with crass idiots like Malcolm Murray around. I actually had some sympathy for him in his battle with Green although this has dissipated completely. I personally cannot abide all the sectarian stuff so if he upsets me I can imagine there will be justified outrage from others. Just shocking really!
AGM
====
So currently, for RIFC plc we only have one Exec Director – Stockbridge – and one NED – an Easdale.
Assuming they can’t , [or don’t want to], add further directors meantime…
What would happen if the only Exec Director was unable to attend the AGM for a ‘valid reason’ e.g. health issue, resignation, etc… ?
Can’t imagine a sole NED would be allowed to run a plc AGM alone ?
Greenock Jack says:
==========================================
I realise that some of them have over 3% but not all of them he listed do, certainly not according to the Ranger’s website the last time I looked.
With regard them being named, that is a matter for them and not Malcolm Murray to decide. If they have agreed that with him fair enough. However as I said he has not been a member of the Rangers board for quite some time, so how does he know they are still shareholders. They are not listed on AIM or on the official PLC site as such.
There are reasons people deliberately keep their holding in companies below 3%, specifically not to have their private business being common knowledge. It’s not Malcolm Murray’s place to discuss that in public unless he has their permission to do so. Certainly not if he does not know it to be the case.
Greenock Jack says: (149)
November 5, 2013 at 12:30 pm
Is there a precedent for a UK football club being put into admin by their holding company, who then (shareholders) look to profit out of the deal, at a cost to the club ?
———————————
Is there a precedent for a UK football club to be in the process of liquidation and a new incarnation created amid a campaign of lies and deception with the full co-operation of the media and football authorities to misrepresent the new entity as the same club/company (but sometimes not when it suits)?
Is there a precedent for a UK league association attempting to ignore/break whatever rules necessary to catapult a new club into the top tier and when that failed, attempt to blackmail and threaten the lower league clubs to get the new club into the 2nd tier, finalyl resorting to just shoving the new club in at the bottom tier without due process to other potential applicants?
Is there a precedent for a UK national association to invent a ludicrous “you’re not breaking the rules if you don’t get caught” interpretation of their own rules when simultaneously dishing out the most draconian of penalties to other clubs for almost trivial infringements?
Is there a precedent for a UK club continuously failing to provide audited accounts year after year with impunity?
Is there a precedent for a UK club to be allowed to investigate itself on the gravest matters of corruption and for the national association to simply accept the club’s own summary of the report no questions asked?
Is there a precedent for the President of the national association to be conflicted via a legally questionable “loan” to a member club and for him to continue in post with impunity and not a murmur of concern far less dissent in the national media?
Etc etc etc etc
The question should be -is there anything precedented about The Rangers situation?
Greenock Jack says: (149)
November 5, 2013 at 2:36 pm
Rangers are a dysfunctional business run by very poor businessmen, the plan as such is to make as much money as possible and who cares about the consequences.
It all hinges on what Mr. Easdale thinks he doing in with this bunch and will the promises made to him , actually be delivered ……….. will the spivs deliver the club to Mr. Easdale, I think they all think the answer is yes, however the devil is in the detail ……. seems to me that if you were unscrupulous you would just iron out some of the confusing small print …… It is all yours Mr Easdale , sorry Mr Chairman , however we need to raise a big pot of dough which we can only do by guess ……..
OK there may be a sort of plan but it will be buffeted by events and it will require the Rangers fans to bhoycott to remove all the miscreants from the premises and start again …..
Tif
MM knows them because he brought them to the table.
He is now an integral part of an effort to bring stability and credibilty to the board. This is tangibly supported by said institutions, in a bid to protect their respective investments.