A guest blog by Auldheid
In the previous blog (http://www.tsfm.scot/how-not-to-govern-scottish-football/), TSFM wrote to Harper Macleod raising questions on their advice supplied to the then SPL Board in February 2013 when the Lord Nimmo Smith Decision re use of EBTs and side letters was announced.
A reply was received from Mr McKenzie on 18th September the gist of which can be discerned in the following reply sent on 4th October.
Dear Mr McKenzie 4th Oct 2014
Thank you for your response of 18th September to my letter of 5th September regarding the consequences of information on the true nature of EBTs for Craig Moore, Ronald De Boer and Tor Andre Flo being withheld from your good selves when establishing in 2012 the Lord Nimmo Smith Commission into the use of EBTs and side letters by Rangers FC from 1999.
In recognition of the points you made about publishing your responses on line, your letter of 18th September will not be published although readers of TSFM will be able to gather from this reply which is being published what those points were.
Anonymity.
It is a matter of real regret that not only was anonymity required, but that Harper MacLeod were used as a conduit to try and elicit a reply from the SPFL or SFA. In terms of anonymity there were three factors at play:
- Security. The individuals asking the questions are aware that any raised concerning Rangers can attract threats from the worst of the Rangers support. We know that they are a minority but nevertheless, as we have recently witnessed, some are ready to turn threat into action. It is a condemnation of Scottish society that fear has played its part in preventing the truth being revealed about Rangers FC’s use of EBTs since 1999.
- Collective. The Scottish Football Monitor is made up of supporters of many clubs in Scottish football and is in effect a collective. The letters reflect to a large extent the thinking and feelings of the majority of readers. If a name is required for any future correspondence from the SPFL or SFA, then it can be addressed to Mr John Macnab, and a Post Box address can be supplied if necessary in addition to this e mail address press@tsfm.scot.
- Accountability. The final factor is the most important because it is why Harper Macleod were approached. It was not just because you were responsible for commissioning the Lord Nimmo Smith enquiry, but because there is absolutely no form of direct accountability by either the SPFL or the SFA to the supporters of Scottish football clubs. Correspondence can be ignored or the content not fully addressed and the customer who pays the wages of both organisations has no means of redress at all. Had there been some oversight in say an Ombudsman type role, it would not have been necessary to involve Harper MacLeod and indeed your good self. We sincerely apologise for doing so along with our thanks for actually responding to our correspondence, but we would like the reasons for our approach being addressed by the clubs who make up both footballing authorities. We hope you pass this particular point on to both SFA and SPFL.
Provenance.
You ask what the provenance is of the information/evidencethat you were given. The answer is we do not know, it was taken from material uploaded mainly in June last year for purposes unknown. Whilst its provenance may be in doubt there is no question as to the veracity of the content of the material itself.
This, when put together, sets out the narrative that prompted our correspondence. This question of provenance simply looks like an excuse for football authority not investigating what the material suggests took place when Duff and Phelps were asked to supply all documents relating to EBTs (no distinction being made) from the inception of the SPL.
Even if the material itself could not be used directly, it should have prompted questions that would have either corrected the narrative or established that the Lord Nimmo Smith Commission was indeed misled either by accident or design, when those documents were not supplied.
The SPFL must surely have the powers to seek the original documents from BDO and the SFA cannot be totally impotent in that regard either.
Then there is the personal knowledge of current SFA President Campbell Ogilvie to draw on. A simple statement explaining why he saw no reason to make any distinction between the irregular DOS REBTs that he launched in 1999 and the later MGMRT EBTs of which he was a beneficiary would surely help clear the air?
Existence of Side Letters.
We note that the Commission were aware of the existence of side letters to Moore, De Boer and Flo at the time of its decision of 28th February 2013 and these were taken into account when determining the appropriate sanction. The existence of side letters is not the issue that was raised in our previous correspondence, it was the nature of the EBTs that was the issue raised. In fact it would seem that the Commission themselves were confused by the switching from the irregular REBT ebts in 2002/03 to the MGMRT EBTs that are subject to further appeal with regard to regularity by HMRC.
The side letters to De Boer and Flo of 30th August and 23 November 2000 related to the DOS REBTs that they were both paid under. It is not known if they had subsequent side letters relating to the MGMRT EBTs , which is possible, but as set out in previous correspondence there were two distinctive types of EBTs and the side letters supplied relate to the earlier irregular type.
The position regarding the Moore EBT is interesting in that whatever EBT side letter was known to the Commission in February 2012 it could only have related to payments made to him under an accompanying side letter from the MGMRT ebts after 2002/03.
That Mr Moore was paid under the REBT scheme in 1999 is a matter of supplied evidence. However there is no record of any side letter in relation to the payment under the 1999 arrangement, which may or may not have been reported in the contract lodged with the SPL and SFA. It was the absence of any side letter in respect of this payment that prevented HMRC pursuing the tax due on it as they did for De Boer and Flo in what has become known as “the wee tax case. “ The evidence of deliberate concealment by the Murray Group of the side letters to De Boer and Flo allowed HMRC to seek repayment outside the normal 6 year time limit.
However the absence of a side letter or tax demand for Mr Moore does not mean this particular payment is not deserving of further scrutiny since
- It was an irregular payment that other clubs could not avail themselves of (as applies to the other two EBTs to De Boer and Flo)
- It is not known if it was reported to the SPL/SFA under the registration rules of that period.
Finally thank you for forwarding our letter of 5th September and previous correspondence to the SFA Compliance Officer. Hopefully any further correspondence will be between him and ourselves, first to our email address, later to a PO Box if required.
It is the hope of all readers of The Scottish Football Monitor that the SFA will stop hiding behind the provenance excuse, which is destroying any semblance of integrity and proper governance of Scottish football and they will use their powers to properly acquire the information that will set the record straight and in doing so start to restore some of the lost trust which is essential for the wellbeing of Scottish football.
John Macnab
TSFM
wottpi says:
November 11, 2014 at 8:33 am
“Why is this concept so difficult for the ‘professionals’who are running our game, both on the playing and administrative side, to understand?”
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I think it’s because it is difficult to claim credit for a well marshalled system. Generally such systems have evolved through time by the contributions of a variety of patrons. You may be the current custodian of a well managed system but you are unlikely to be able to claim credit for its existence. Therefore such systems can’t easily be ‘enclosed’ to singular benefit.
Such with football and sport in general as with many other systems. People evolve a system of operation since they have an interest in it being maintained but fail to see how it eventually might flourish. If the founders of association football could have foreseen quite how successful it was going to be they might have moulded the rules in a different manner. For decades football (banking, insurance…) flourished simply on the basis of following some easily defined principles. It was their ease of definition that made these principles so malleable however.
If you want to claim credit for the functioning of a well run system, corrupt it. The corruption becomes your singular act and the consequences flowing from that corruption are no longer subject to the nuances of the system, they are directly apportionable to the corrupter.
I’ve worked on contracts where well ordered systems have resulted in excellent profit margins. Management were not impressed since they could not isolate any particular event whose simple replication would have recreated those same circumstances. I’ve seen the same management tickled pink by one of its employees showing how they had made a bit more money on a contract by scamming the client in some way. This was instant and identifiable gratification.
If a system is working well it will inevitably attract those who would wish to corrupt it and claim some personal credit for their intervention. Unfortunately as soon as you disturb the successful equilibrium of a system you risk choking off the success that it has engendered.
You can guess that Ashley/Llambias are ‘proper’ operators: there is virtual silence from the Blue Room and assorted characters at Ibrox.
Wrt Ashley owning stakes in potentially several clubs, this throws up yet another inconsistency in the SFA logic, IMO.
The apparent rationale behind the SFA’s, [& SPL/SPFL], decision to bend over for the Govan club at every opportunity is that it is in the best interests of Scottish football – from a commercial perspective.
Their actions have supported their view that business trumps sporting integrity, and adherence to established governing rules.
Ashley is a businessman. As he has acquired numerous businesses/brands along the way, then why should he be blocked from owning several clubs, if it’s good for business ?
And ultimately, would it not be a ‘restriction on trade’ to bar anyone from having several clubs ?
The SFA’s twisting/ignoring of various rules over the last 2+ years will forever come back to bite them, IMO.
mcfc says:
November 11, 2014 at 3:45 pm
Noticed on that list the STV story on the Charlie Telfer tribunal date.
http://sport.stv.tv/football/clubs/rangers/299248-dundee-united-boss-keen-for-charlie-telfer-transfer-tribunal-date/?
Anyone have any info on when this will take place?
An “independent panel” will decide if The Rangers deserve an extra £150k to £175k above the £50k offered by Dundee United for Telfer.
Call me a cynic – but what did The Rangers pay Rangers and their creditors in compensation for Telfer.
Same Club, Same Rights, Different Club, Different Debts.
BTW where exactly does one get an “independent panel” in Scottish football. Maybe Teresa May can offer some tips about avoiding bleeding obvious establishment bias.
It’s rewarding to read this blog and find so much agreement that tolerance and mutual respect should be an integral and fundamental part of football.
I would however like to pick up on the suggestion observance of a minute’s silence at football somehow impinges on a person’s right to choose, specifically their right to choose to dissent from observance. While I accept for some football clubs Remembrance Day events are a relatively new or a recently reintroduced event, no club I know of springs the holding of minute’s silence on their fans without warning; fans know in advance whether the ground they are visiting will be holding a minute’s silence. Therefore fans always have that ability to choose to dissent by non-attendance. There’s something quite disingenuous suggesting choice being removed from something you voluntarily take part in.
Since Aberdeen and Celtic made it quite clear in advance a minute’s silence was to be held at their match on Sunday, those who wanted to dissent or disagreed with the sentiment and motivations behind being asked to observe it simply did not have to attend.
= No accounts = No AGM in Dec 2014
= No increase in share capital
= No freebie shares for the Spivs…so they can’t cheat minority holders
= Time to skin the carcass
= Liquidation of TRFC
= Newco renting Stadium from Spivs
= Newco stuck with onerous contracts
= White Knight from Hampden
= Newco parachute into SPFL
= Armageddon avoided for everybody who owns a football club
= Everybody happy
TTRFC fans back where they think they belong
Remaining fans can give up going to games and watch CFC v TTRFC 4 times a year
What’s not to like?
Just catching up with anither day of ‘allquietnessness’. Glad I did though cos Danish’s The billionaire lamp may be flashing in the Bat Cave’ line made me splutter.
Big hat tip sir!
Martin says:
November 11, 2014 at 3:58 pm
4 0 Rate This
mcfc says:
November 11, 2014 at 3:45 pm
Noticed on that list the STV story on the Charlie Telfer tribunal date.
http://sport.stv.tv/football/clubs/rangers/299248-dundee-united-boss-keen-for-charlie-telfer-transfer-tribunal-date/?
Anyone have any info on when this will take place?
++++++++++++++++++++++++++++++++++++++++
I’m guessing the panel will be “independent” of the SFA, so it will NOT be an SFA decision (=fudge)
and the ducking and diving and lying continues !!!???
There’s a tipping point when the average fan decides that enough is enough and there are better ways to spend their time and money on a Saturday afternoon than watching a corrupt league condoned by the inaction and silence of their own club. It starts with swapping an ST for pay-as-you-go, then the pay-as-you-go just gets less frequent. And the youngsters don’t get taken along often enough for it to get into their blood and the handover to the next generation just doesn’t happen.
The SFA may genuinely think they are saving Scottish football by avoiding Armageddon – but they will actually accelerate its decline if more skullduggery and injustice is seen by all to be the name of the game.
The SFA has shown repeated disdain for the fans. Will the clubs wake up to the risks by opposing the SFA’s tunnel vision? The omens are not good. The clubs only voted against the biggest con trick in modern sport because the fans threatened immediate financial meltdown. But the clubs have done sod all since to stop someething similar happening again – in fact they voted the “compromised” Campbell Ogilvie back in as SFA President unopposed – shameful disregard for their customers in my humble opinion. There should be a resolution at every club AGM asking how that happened ?
The SFA really needs to get it’s head around the fact that the world has changed and is changing fast – instead of fixating on the priority being protection of The Rangers and The People. The priority must be encouraging more people to attend exciting sport played from juniors to Champions League on a level field with fair rules applied fairly.
I think the SFA are beyond hope to be honest – it’s really down to the clubs – and if they won’t act then the fans will drift away and football will eventualy lose its place as the national gamme. Just as ship building, coal mining nad steel making lost their place in the national character.
PW1874 says:
November 11, 2014 at 4:42 pm
Since Aberdeen and Celtic made it quite clear in advance a minute’s silence was to be held at their match on Sunday, those who wanted to dissent or disagreed with the sentiment and motivations behind being asked to observe it simply did not have to attend.
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Anyone who doesn’t wish to observe the silence – which takes place prior to the game commencing – only needs delay their entry into the ground.
It’s not required of those who don’t wish to participate in the silence to choose to dissent by non-attendance at the actual match.
People have the absolute right as to whether they wish to take part in the minute’s silence or not. I don’t wear a poppy for personal reasons but have no problem in both observing the silence and taking part in remembrance ceremonies.
I just happen to think that disrupting the silence is a huge disrespect to fellow fans who wish to observe it as well as the dead whose sacrifice is being remembered.
jimlarkin says:
November 11, 2014 at 5:16 pm
Spot on!
“Now, with no agreement reached, the validity of United’s argument — centring on the successful departures of stars such as Steven Davis, Steven Naismith, and Steven Whittaker in 2012 for nothing — is set to be decided by an independent panel. Likely to include a law lord, it should take place early in the new season.”
http://www.sundaypost.com/sport/football/dundee-utd-blast-for-rangers-in-transfer-row-1.410939
As to the date “early in the new season” seems to be slipping, though perhaps that’s simply down to the difficulty of finding another Law Lord willing to have any part of this unholy mess.
😆
Castofthousands says:
November 11, 2014 at 3:04 pm
12 0 Rate This
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I read your last paragraph four times before I got it — in terms of market segmentation, and so on
And a novel idea it is, too. Although, in football terms, it looks very much like a bubble that is about to burst. The weekly saturation football coverage cannot continue, surely? But I can see that the Andy Carroll £35m, and later transfers, could have set Ashley on another course. After all, how many shirts and sports accessories do you have to sell to make £35m! But is Ashley really that astute? Didn’t he just invest in shares that nose-dived?
Too much fitba, though. The CL and UL are drudgery if you don’t have a pet team. And just how many hours can you spend in front of the telly watching fitba played by tattooed, overpaid, hairdresser mannequins anyway?
Great line from Billy McKinley on Sportsound last night was: ‘There’s never been so much money in football, but everyone’s skint.’ He had been asked if taking a job like the Motherwell one would discourage him because of financial constraints. Fair play to him pointing out that the essential was, above all, getting the team organised, trained and motivated.
You guys really do inspire me at times 🙂 This one came about because of the SFA’s continuing blindness, and yesterday’s cracking debate about respect in football grounds … this is a wee poser … what does it mean to be “patriotic” in Scottish football these days, with a national association who has managed to piss everyone off?
http://www.onfieldsofgreen.com/patriot-games/
“Patriotism is the last refuge of a scoundrel”: Samuel Johnson
“You’ll never have a quiet world until you knock the patriotism out of the human race”, George Bernard Shaw
“Patriotism: combustible rubbish ready to the torch of any one ambitious to illuminate his name”, Ambrose Bierce
Anyone trying to evoke patriotism as a prime mover to promote a modern sport and/or business will get what they deserve and the customers they deserve.
I don’t attend England matches anymore – the “bravado” on display by a sizeable minority – by no means all – makes me cringe. Why is it so different from international Rugby – they seem to have got it right.
Danish Pastry says:
November 11, 2014 at 5:53 pm
9 0 Rate This
… And just how many hours can you spend in front of the telly watching fitba played by tattooed, overpaid, hairdresser mannequins anyway?
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DP…bestest and most succinct description of the EPL poseurs who frequent the local training grounds and “exclusive” suburbs of my adoptive Essex…and I know it applies to the equivalent parts of London and England in general…save for a few decent souls!
30 Years from Now
I attended a very good seminar recently on Strategic Planning. To big corporations in utilities, infrastructure, engineering, aerospace, telecoms etc this means 20-40 years ahead. Mega trends, population/demographics/wealth trends, resource supply/demand, globalization, attitudinal/societal/political trends, governmental/regulatory trends, emerging/disruptive/declining technologies. What is probable, what is likely, what is unlikely and/or improbable but needs to be watched, what to do about big surprises. What are emerging threats and opportunities. What are competitors doing/thinking. Impressive stuff when you see large organizations actually aligning their business models and structures today to address their best estimation of the probable and likely events decades ahead.
Many of these companies are over a hundred years old and have survived and prospered where others have faltered through booms, busts, wars, oil crises, financial crises, political crises, social crises. At board room level, this is what must be done seriously and diligently to ensure future survival and success of the corporation that they guide temporarily. What made them successful in this decade is almost certain to be the wrong thing for success in the next decade – so how to change. Failure to plan is planning to fail etc etc.
What’s the SFA’s timescale for strategic planning?
What’s the SPFL’s timescale for strategic planning?
What’s RIFC plc’s timescale for strategic planning?
Do they even know that this level of professionalism exists?
PS – once you’ve made your plans, its good to tell the workers, customers and investors why you got out of that business or invested so heavily in that startup – otherwise it can all appear a bit random because you’re acting on judgements and information that are far from obvious to the casual observer.
mcfc says:
November 11, 2014 at 5:29 pm
Any attempt to manipulate another league reconstruction will be seen for exactly what it is: the helping hand to a financially crippled club. After all Hearts and Hibs, as well as the other clubs in the Championship, are not in immediate financial difficulty. Hearts have sold record season tickets.
If they do try reconstruction then it really will be the final straw I think for most fans. How will Aberdeen and Dundee United fans react after selling record season tickets this year.
I believe, even at this stage, club boardrooms are still unaware of the depth of feeling and utter mistrust in the governing body.
Most clubs in the lower leagues are probably unconcerned with what happens at the upper ends of the league. They do not understand that they have the real power, and moral authority, to change our sport for the better. They are the clubs who make tough decisions to balance the books and yet they have allowed a financial train wreck of a club to ride over the top of them, throwing money away as it passed them by.
These are the people who could make a difference in our game. I’m not saying for a minute that it would not be assisted if the bigger clubs ‘grew a pair’, got up off their knees, and show some leadership as well as testicular fortitude. Their fans are screaming out for leadership because the know there is none coming from Hampden.
Now it could be that the Chairmen of the top clubs know something we don’t; that the elephant in the room is about to pull a gun and shoot itself in the head and do us all a favour. That very type of wishful thinking is what brought RFC to the brink in the first place. The ‘too big to fail’ philosophy.
Well they did fail and the complete lack of financial regulations since that catastrophe, nearly three years ago, is the biggest indictment on our clubs.
Clubs simply need protection from themselves and any egotistical owners who pitch up.
By not addressing this simple, but major problem, will cause another seismic event in our sport. It may not happen in the next six months, or even a year, but it will happen.
WRT the Charlie Telfer saga, I seem to remember that TRFC capitulated before the Tribunal was convened and accepted the DUFC offer of £50K. Obviously the :slamb: didn’t report this in case it demolished the immortality myth. Anyone confirm?
Top Cat 1874 says:
November 11, 2014 at 8:26 pm
Until today’s STV report I had assumed that some sort of capitulation had quietly taken place.
It would be odd if the current Dundee United manager was not up to speed on the issue.
My reading of this is that Dundee United have grown tired of the lack of a resolution, and have chosen to make their concern public.
justshatered says:
November 11, 2014 at 7:53 pm
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When it comes to the crunch, CO must say “no” to MA then explain it to The People.
Mr Ogilvie, I understand that this an alien concept, so let’s practice, deep breath and slowly “Mr Ashley, I understand why you may want that, but I must consider the well-being of all my members, so with regret, I must decline your offer. Please be clear that any attempt to portray the SFA as the cause of your club’s demise will not go unchallenged”
And repeat, until it feels natural – it may take some time – but you’ll get it eventually. Have you seen The King’s Speech? if not, I strongly recommend it.
Top Cat 1874 says:
November 11, 2014 at 8:26 pm
WRT the Charlie Telfer saga, I seem to remember that TRFC capitulated before the Tribunal was convened and accepted the DUFC offer of £50K.
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IIRC Phil first floated this suggestion a few months ago (but not as a done deal ❓ )
It was picked up by some fan sites but not I think by the SMSM.
Reflecting on this now it seems to me that had RIFC accepted DUFC’s position (assuming this position has been reported correctly) they would have declared open season for other clubs picking up any of their young players whose contracts were expiring.
The odd thing is the length of time it’s taken to resolve, though it may simply be that the parties are still in dialogue ❓
Top Cat 1874 says: November 11, 2014 at 8:26 pm
WRT the Charlie Telfer saga, I seem to remember that TRFC capitulated before the Tribunal was convened and accepted the DUFC offer of £50K. Obviously the :slamb: didn’t report this in case it demolished the immortality myth. Anyone confirm?
========================
Jim Spence mentioned it a couple of weeks ago on Sportsound.
United and Rangers couldn’t agree a fee, thus it will go to a tribunal to decide on the final amount. In the interim United paid TRFC £60K for Telfer which is what United believe they would be due following the 2012 birth of the newco.
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I have a view that United are correct about only being due the £60K to TRFC, but I do believe that they could well be liable to the creditors of RFC(2012) for Telfer’s early development.
Had RFC(2012) already been liquidated, I seem to recall reading somewhere that the liability would not have lapsed, but would be due to the football authorities. I can’t remember where I saw the reference though.
Despite Aberdeen’s comedy cup tieing of our top scorer young McManus …Morton march on …now for Spartans !
The Dons never forgave us for what big Andy Ritchie did to Miller and McLeish all those years ago
easyJambo says:
November 11, 2014 at 9:29 pm
Jim Spence mentioned it a couple of weeks ago on Sportsound.
United and Rangers couldn’t agree a fee, thus it will go to a tribunal to decide on the final amount. In the interim United paid TRFC £60K
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Oh dear, scooped by a Jambo on United related stuff 😳 🙂
Still it’s a sure sign how useless the SMSM are (Spency aside) that I hadn’t run across this elsewhere.
I’m in very sunny climes just now and can’t really understand the whole Charlie Telfer thing. It may be the sun or it may be the lager 🙂
Are we at the stage where TRFC are scrapping for £60k?
Tailothebank says:
November 11, 2014 at 9:52 pm
The Dons never forgave us for what big Andy Ritchie did to Miller and McLeish all those years ago.
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I have an Andy Ritchie sweatband somewhere if you’d like it. Never used…. 😀
Scottish Football needs real characters and great footballers like Andy Ritchie.
Or it may be the strong plants here 😆
Long time no post but a tad concerned re EddieGoldTop. Has he been got at ?? Got his tongue ripped out ?? Been offered an upgrade on his Sponsorship deal ?? Have I missed something ??
http://www.dailyrecord.co.uk/sport/football/football-news/graeme-souness-vents-anger-gers-4611416
Are the so called Real rangers men coming out of the woodwork of late to
1.Save their beloved club
2.To set the fans straight
3.Lay the foundation’s for the next new,old,same club
4. Turn the fans against the board To worm their way in
5.Test the waters for the support of a Really Real rangers. (Splitter’s)
6.All or a combination of the above
Danish Pastry says:
November 10, 2014 at 9:00 pm
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My hunch is that if he gets the Image Rights sorted then he will stay at the table.
However he certainly no sugar daddy
Danish Pastry says:
November 11, 2014 at 5:53 pm
“And a novel idea it is, too. Although, in football terms, it looks very much like a bubble that is about to burst.”
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From an ‘old world’ perspective the sport may have seen better days but emerging markets will gobble it up like McDonald’s hamburgers. Why have creative content when you can stuff TV channels (iphones) full of sport with some sort of dramatic narrative draped over it to add colour. There’s billions of potential customers out there that frankly couldn’t care less if the referee makes honest mistakes.
With all this potential revenue still there to be farmed then the transfer market may become a point where you can siphon off the wealth. A club like Rangers with a long (?) history and potential of European football (??) might be just the thing to attract some raw and ambitious young talent. Celtic have been operating a similar model recently. It might be that the working capital for a Rangers project might be created by clever transactions in the transfer market. The really big clubs don’t think twice about paying £5M for a reasonable prospect. If you can buy for £0.5M and sell for £5M you have a healthy revenue stream.
If you have a cascade of clubs, a wee team, a medium sized team and a big team, you might be able to move players up the step ladder so you eventually sell a seasoned EPL player from Newcastle United for a handsome fee to a top team.
It seems Mr Souness has aligned a compliant hack to address the nation that (his friend) Brian Kennedy would have been the right man for Ibrox.
What a pity we don’t have anyone in the media brave enough to ask Souness why he had an EBT from Rangers many years after leaving them.
Aberdeen reporting this morning they are debt free
And over in Glasgow courtesy of a Grant of STV tweet
“Lower than expected match attendances” led to Rangers taking £1m more in loans from Mike Ashley. “Cost cutting” also ongoing at Ibrox. Further funding will be required before year end
andygraham.66 says:
November 12, 2014 at 7:28 am
There’s a light in the north.
Hasn’t this Armageddon nonsense been splendid for Aberdeen football club, and it must be said, several other clubs.
So another £1m to be drawn on 26th November.Wages due 27th.
More cash needed next month.Why did Ashley not just advance them enough to see them through the year?.
Meanwhile still no accounts or sign of an AGM.
WRT giving up the naming rights,I can only assume that CG has promised Mike something more lucrative.
Here’s a club admitting they’re bust but still the SFA/SPFL do nothing.Seems to me we could be looking at a rerun of the previous regime.Administration in Jan/Feb allowing TRFC to limp through to the close season,allowing everyone time to get their ducks in a row.
Feeling His Way
So an extra £1mil now to see out the month – but more needed by the end of the year (not end of the season). So not enough to sign off the account as a going concern just yet and no details about security for the extra £1mil.
Mike’s surrender of the Ibrox naming rights looks generous – but is he a generous man. I suspect he’s traded something very clearly identifiable and emotionally troubling for something more complex, more valuable and not worthy of the masses’ emotion – at least not yet.
The key reference in the statement is “cost cutting”. Expect “Exodus, movement of Ja people” in the Jan transfer window with the aim of breaking even by end of Feb. Mike, will judge how the patient responds to treatment before committing more cash to get to break even and see out the season. McCoist and his overpaid staff will be central to this. Squeaky bum time for them.
So by Feb, Mike may have a reasonable story for Deloitte to sign-off the accounts as a going concern – albeit eight months into the twelve month period covered. Can he fend off AIM and the SFA over missing accounts and AGM until then – he probably already has a nudge and a wink on that as a pre-cursor to lending the extra £1mil.
Interesting times – interesting times indeed.
You would think that any company daft enough to allow Sevco FC to pay for services without significant cash up front would be shitting themselves about now if their invoices arent being paid on time.
Will any of them start proceedings in time this time?
Will the SFA be hoping none of them don’t?
It may seem odd for an Arab to congratulate Aberdeen on the news that they have substantially strengthened their financial position, but I would like to do so anyway!
These past couple of years have seen good news for Scottish football. Hearts supporters, working with Ann Budge, have managed to turn around a potentially disastrous position, Dunfermline back from the brink, United now close to being debt free and it looks like Aberdeen are closing on a similar position.
These positive developments are strikingly at odds with the warnings of imminent doom a couple of years ago. Scottish football needs a strong commitment to honesty. Anything else, including the existence of any particular club, is not essential. Indeed the evidence is to the contrary.
Any vile future suggestion that Scottish Football needs to restructure to avoid Armageddon deserves utter contempt.
PS
The cost cutting will need to be brutal to break even by end of Feb – unless Mike plans to top up the Metro Bank account every month against sod all security. How will the people feel about brutal cuts to their institution. Hope they are prepared for the fiscal enema that’s so long over due.
And to think there are still plenty Aberdeen fans that believe Stewart Milne was only ever in it to build flats on the Pittodrie ground. Nearly hounded the guy out as well a few years back. If they had, I dread to think what would have happened. He has his faults, but chapeaux for his role in sorting the is one out and keeping us alive to get to this point.
Anyway, fabulous news. Armageddon must be the best things thats happened in Scottish football since Willie Miller decided growing a tache was the way to go!
I could do with a celebratory rowie/buttery (an Aberdeen roll for the posh folk out there) now….
Further re Credit Facility
http://www.rangers.co.uk/news/headlines/item/8072-further-re-credit-facility
Sounds like the RST letter to AIM has hit a raw nerve at the top of the amrble stairs – re funding choices/process and the retail deal. More explanation there than we’ve seem before. Is it possible AIM took RST seriously and picked up the phone.
btw – no extra security for the extra £1mil loan – what a generous guy – showing signs of Rangeritis – well it’s rather early for a diagnosis.
Utterly Worthless SMSM
The thing that annoys me so much about the SMSM is that they offer so little analysis, additional information, insight and opinion. They just cut and paste statements and press releases and that’s it. Do they not have opinions, have they not thought through any scenarios or are they just some repugnant combination of frightened, lazy, complicit, stupid.
Come on guys, get an opinion, get some balls or get a proper job.
Rangers state:
==============================================================
Fascinating stuff and easy to see why McCoist was told that money is King rather than winning matches.
However the original £2 million loan seems to have gone and this £1 million is needed to pay the monthly wage bill. It’s obvious there aren’t even any fumes left in the Ibrox tank.
I see this move as another turning of the screw because by stating more money is required before the end of the year it seems impossible IMO for Deloitte’s to issue accounts never mind accounts with a ‘going concern’ warning.
Obviously MASH or a party close to them could provide enough money not just till the end of the year but to the end of the season but, at this time, chooses not to.
My conclusion is that something is being demanded from the mystery overseas investors and perhaps other ‘controllers’ who although not centre stage are still writing the script and directing significant pieces of the action.
Time really is running-out in this game of bluff between Ashley and the spivs and my money is on Ashley not being the first to blink. He WILL walk away unless he gets exactly what he demands.
As to the giving-up of naming rights I wonder what that actually means? I also seriously wonder why giving-up those rights requires a partnership marketing agreement between SportsDirect.com Retail Limited and TRFCL in which Sports Direct relinquishes its naming rights to Ibrox.
Could it be that the quid pro quo for giving-up the rights is to plaster Ibrox in Sports Direct signage and marketing? Are the rights terminated irrevocably?
I’ll reserve my judgement on this issue until I see the fine-print of the agreement – silly me just imagine that I’ll ever get to see that. Let’s hope the Bears have better luck but it would be a mistake for them to hold their breath.
It’s really all pointing to a shoot-out at the OK Corall although it’s still hard to figure-out the identities of the lawmen and outlaws.
Cost cutting may be a lot more difficult than most think
First off why walk away or transfer to another team for less money than the players and staff are garunteed ?
Secondly which team/club/entity is going to pay these players more or even the same?
And of course who is going to offer any significant money for the players knowing the financial state rangers are in
Tayred, I feel for you so I had an extra rowie this morning (Aitkens) in your honour.
It’s a great story and well done to the Dons board and the Donalds. It’s a consequence of the era that we all tend to be suspicious, if not downright cynical, about anyone who invests in fitba but I understand, from some colleagues that know them, that the Donalds are no mugs but want to “put something back” and all that. I’m sure they hope to make a bob or two along the way and I hope they do.
Apologies for dredging up the same old stuff but it reinforces my complete amazement that not one person of similar wealth felt fit to rescue the old Rangers in some form even if only to sell on in a dignified and sustainable manner. I actually think that the SMSM sycophancy and the supremacist agenda turned any “fit and proper” (as defined by most fans) candidates away from it.
Anyway, more armageddon please!
AFC Net Debt reduced by £14 million due to debt for equity swaps with major shareholders AAM, Stewart and also a significant investment in new shares by local family Willie and Elaine Donald.
From the announcement this morning:
——————————————————–
With regard to the restructuring he stated “The negotiations have been ongoing for a number of months now and these arrangements will I believe be transformational for the Club. The Club are indebted to Willie and Elaine for the role they have played in this. If the final steps are approved at the AGM we will have a strong balance sheet and the debt servicing burden will be removed allowing us to drive forward on training facilities and the plans for the new stadium with much greater confidence in our ability to raise the additional investment needed”.
Willie Donald stated “Our family recognises that we have been fortunate to have grown our business in a city and region that has benefitted from the impact of the energy sector over the last 37 years. We decided some time ago that we wished to give something back to the community, we see the football club as a vital and central part of the community, and indeed the whole North East of Scotland and see this investment as an excellent opportunity to deliver our objective”.
Club Chief Executive Duncan Fraser stated “Stewart Milne Group and Aberdeen Asset Management, by agreeing to convert debt to equity, have been pivotal in making this restructuring happen. It was only possible to agree this restructuring because the Club has demonstrated it can operate at a break even position. Having taken many hard decisions over the years we intend to continue the strategy of only spending what we can afford and maintaining an appropriate wages to turnover ratio.
“The overall turnover increased from £7.85 million to £11.158 million, as the Club finished third in the SPFL, won the League Cup and reached the semi-final of the Scottish Cup, compared to eighth in the SPL, the fourth round of the League Cup and the fifth round of the Scottish Cup.
“Wages increased from £5.256 million to £6.084 million as a direct result of much higher performance bonuses being paid to the playing and management staff. The consequent wages to turnover ratio has dropped from 67% to 55% which in terms of industry averages is an excellent result.”
———————————————————
More evidence of this Armageddon hitting hard it seems.
Meanwhile I see Souness is in the Daily Record reminding us how terrible it has been for us all since “Rangers” were “relegated”. Just in case we were mistakenly enjoying the increased competition, improved financial stability, honest competition and the general reduction of hubristic, militaristic guff.
Another “off the radar” blinder by Ashley, he really does just get things done.
He knows he doesn’t need to own any more shares to control what’s happening, in a distressed business, secured debt is King (pardon the pun). He wont have to drip feed much more cash, which is small change for Ashley, to make his security the controlling factor in all things down Govan way.
ecobhoy says:
November 12, 2014 at 9:32 am
Time really is running-out in this game of bluff between Ashley and the spivs and my money is on Ashley not being the first to blink. He WILL walk away unless he gets exactly what he demands.
=========================
Yes – agree. Mike’s message to the spivs must be – game’s over – time to leave – you’ve made a shed load – take what’s on offer or, as you know, it will crash and burn by Xmas – and I won’t be here to take any sh*t.- your choice.
I imagine Ally and his mates have had a similar sit down and talking to.
Hardball replaces football at Ibrox. Just when we (I) was getting bored 🙂
tcup 2012 makes good points about the difficulty of shifting unwanted players and staff. It’s all about cost cutting rather than raising working capital. The players and agents will no doubt be appraised of their options in the January window versus Admin once it closes.
Either the thing is a busted flush or there is a chance of holding on long enough to make it to the Premiership. Admin is no good due to the points deduction meaning promotion is far more risky.
However to get back to the top there has to be a decent team on the park that has the ability to overtake Hearts and if not to see off the challengers and then negotiate the play-offs. Once again risky.
Therefore no major cost cutting on the playing front otherwise Ally’s inability to deal with a small squad will be exposed. One option may be to get in loan players from Newcastle to bolster the squad or do some kind of buy and loan back deal on McLeod and Wallace that reduces the wage bill. However while we are only talking a few months salary it seems, like the Telfer issue, it has got to the stage every little helps.
McCoist and his pals could be punted but at what price. Does Mike need to make them an offer they can’t refuse?
Other than that where else can savings been made if Nash has already had a good go at things?
As I keep repeating ad nauseam the non footballing annual bill was always around £14-15m in the SDM days. No doubt there was some meat to be trimmed off the bones but the running of a 51k seater stadium and the Murray Park all come at a cost.
If anyone can carry off this balancing act it is Ashley (if he has the will and the extra million loan says he does) but it still looks like hard work to me.
wottpi says:
November 12, 2014 at 10:03 am
If anyone can carry off this balancing act it is Ashley (if he has the will and the extra million loan says he does) but it still looks like hard work to me.
===================================================================
Wottpi – Mike is no Sugar Daddy – if he sorts this mess out it won’t be his money that saves the day, it will be his balls, his clear thinking and his ability to face down the spivs and anyone else who gets in his way. You know, I can imagine him loving every minute of “the deal”. Loving that buzz is what made him a billionaire on the radar. He probably spends too much time talking to bankers, regulators and other dull corporate types these days and misses the blood and snot of a good scrap. This is probably the closest to a bit-on-the-side that Mike has had for years. No offence Mrs Ashley.
tcup 2012 says:
November 12, 2014 at 9:32 am
Cost cutting may be a lot more difficult than most think.
================================================================
The latest club statements seem to imply that cost-cutting will now commence. IIRC hasn’t it been stated recently that there has already been massive cost-cutting this year of circa £7 million.
That being the case how much is there left that can easily be cut? Seems to me it leaves wages as the priority target. But you’re right how do you force people out without paying millions in compensation.
MASH might well have been a life-saver in the Korean War but I somehow doubt that the new Ibrox benefactor will be providing cash transfusions to reduce the Ibrox army of low-ranking players on generals’ wages. And that’s without even looking towards the coaching bunker.
The only financially sensible thing IMO to deal with grossly overpaid football employees is Admin. I’m sure ordinary workers will already have been hammered.
Wrt players, firstly you would need to punt anyone you could turn a coin on in the January ‘Window’ but as @tcup commented any buying club will be making bargain basement offers and only the EPL or Championship could match the wages – no laughing at the back btw 😆
Murray Park seems to me possibly the only thing that could be punted but for what £3-4 million?
The only other thing I can think of would be discharge of the onerous contracts and that could be Ashley’s strategy by keeping the club alive on a drip feed. But I think the £1 million bag of wonga being hooked-up for the November wages is the last of the life-giving plasma for Ibrox.
The spivs and mystery overseas investors have hard decisions to take because cost-cutting wrt Ibrox housekeeping alone isn’t enough to save this financial basket-case of a club.
Who knows exactly what will happen if Ashley emerges the winner – one thing’s for sure IMO and that’s that the club will be run within its financial means and that will not be acceptable to a lot of supporters.
However I think the Footballing Bears might go for the Ashley lifeline as I’m sure that despite all the breast-beating by so-called Real Rangers Men in this saga they failed to actually put their cash on the table when it mattered.
As to sale and lease-back of the stadium itself – yip there’s money in that but I think that will be the last act and could be say a year away after Ashley has stabilised the club and tbh I’m not that sure that promotion is necessarily a priority for Ashley next year although it would be for 2015-16 season.
And all the hype of sweeping all before it in the Premiership, winning cups and triumphantly marching through European competitions will remain just hype because that would take too much dosh to merit the financial return to the lender of last resort who appears to be the only Sugar Daddy standing.
This Sugar Daddy isn’t your usual wealth off the radar billionaire who washes-up the Clyde to Ibrox. No this one demands the swallowing of a very large and extremely bitter pill to bring about financial health.
A novel concept at Ibrox to be sure and an interesting experiment to observe.
mcfc says:
November 12, 2014 at 10:15 am
Agreed he is not sugar daddy but as discussed before, the deal really only works for Ashley if T’Rangers are in the premiership.
Failure to achieve that results in more disillusion, lower crowds and less gear being sold.
What he does when they get there is another matter altogether but by providing another £1m at short notice it seems his place-men think, from their initial look under the bonnet, there is something still worth saving/trading to strengthen his hold on what he wants.
I intend to apply to join one of Scotland’s top golf clubs. I have absolutely no chance of gaining membership as I do not fit the entry criteria, also , I do not even play golf. When my refusal is announced does that mean that I am “relegated” to some lower league golf club. Maybe G. Sourness, among others,can explain this one to me.
Peter22, having some good friends who are already members might ease your entry into the club. I’ll put in a good word for you, but whats in it for me :irony:
Admin serves no purpose to Ashley. The threat of admin serves a purpose, the purpose being to say to the fans if you really want another season in Div 1 carry on the way you’re going. Similarly to the players “there’s the door, its up to you.”
Liquidation serves a purpose, in fact Souness’ statement smacks of the establishment waiting in the wings. Again though, it doesn’t really serve any purpose to Ashley given its consequences for his contracts. But it does stick a message out to the other shareholders, take a cold shower with me, or take a bath without me, again your choice.
Nope, expect more drip drip investment keeping them on a shoestring with admin used just a as the stick to prod things along. The question is if the constrained footballing side can deliver, and whether the viewing masses like what they see.
Interesting times.
theoldcourse, peter22
I’ll also put in a good word, if we can get two more members to speak up could we have the makings of a 5 way agreement?
Smugas says:
November 12, 2014 at 11:44 am
take a cold shower with me [Mike Ashley]
========================
thanks Smugas – I’ll have that image in my head over lunch 🙂
The Rangers have 3 home matches left to play this year after Novembers wages are paid.
Kilmarnock in a lunch time (televised?) Scottish Cup game (takings split 50-50), then Cowdenbeath and Livingston………….They’ll get the turnstyle birling.
Partnership Marketing Agreement
THE Board of Rangers is pleased to announce that Rangers Football Club Limited has entered into a partnership marketing agreement with SportsDirect.com Retail Limited (“Sports Direct”) in which Sports Direct has given up its naming rights to the Ibrox Stadium.
<<<<<<<<<<<<<
Two points
Firstly
I don’t know where people get the idea that this is a freebie gesture by Ashley
We are dealing with Spivs
Spivs publicise good news and conceal bad news
This statement publicises that SD has given up its naming rights to Ibrox
It does not say if these naming rights were bought back for £1
It does not say if SD has given up these naming rights permanently
It does not say if these naming rights are given unconditionally e.g,Would they revert to SD in the event of TRFC going into Admin or Liquidation?
It does not say even that these naming rights have reverted to TRFC They could have went anywhere
e.g. to RIFC or to one of the Spiv shareholders?
It does not say what is meant by a partnership marketing agreement with SportsDirect.com Retail Limited
Does it include marketing TRFC players with the profit going to SD?
The one thing you can be sure of
This is a better deal for Ashley than it is for TRFC
Secondly
Releasing this news at the same time as increasing the credit facility is designed to win PR brownies for Ashley
Why would he need PR brownies?
Because he is under pressure from a source that he can`t threaten with his megabucks
It provides a fig leaf under which this source can make a public concession to Ashley
So
Standby for some more sporting integrity shredding by the SPFL and SFA
They now have an excuse to make concessions to Ashley
No Pussyfooting
At the end of the day business is even simpler than Bill Shankly’s explanation of football; “Football is a simple game based on the giving and taking of passes, of controlling the ball and of making yourself available to receive a pass. It is terribly simple.”. Did Bill Shankly really say “terribly simple” erm.
Anyway, back to businsss, control costs, boost revenue to exceed costs, simples.
The thing is no-one has tried this at Rangers in recent decades or at The Rangers ever. They’ve always been focussed on other priorities – mainly Rangersness or spivving.
Mike is on virgin territory here, but his men will have told him what needs to be fixed and he will have devised a plan with them to do the fixing. Some will be quick and easy to fix (credit card payments) some will be near-impossible and risky. After three years of softening up (trauma) The People must now decide if they want Mike’s Break-Even Rangers or the one and only alternative, Broken Forever Rangers. Organisational psychologists talk about “unfreezing” to facilitate a shift of behaviour/attitude and then “refreezing” to establish the change as the new norm. Life’s all about choices, and sometime all the choices stink.
GoosyGoosy at 12.02pm
Forgive me, but if you have a moment, could you say a bit more about this?
“Standby for some more sporting integrity shredding by the SPFL and SFA. They now have an excuse to make concessions to Ashley.”
When you post, I always try to pay as much attention as possible, and I note what you said the other day about the football authorities’ inclination to do a deal to accommodate clubs they regard as non-diddy. But I have not understood fully what you mean here.
Why do they have an excuse they did not have before to make concessions to Ashley?
With thanks.
Smugas says:
November 12, 2014 at 11:44 am
Admin serves no purpose to Ashley
======================================
Perhaps not but the point I was making wrt to cost-cutting is what costs can actually be cut. Players and coaching wages are possiby the biggest ‘visible’ expenditure left.
But I just feel that shifting players come January will be nigh impossible because of the dual effect of mickey-mouse offers from potential buying clubs for the tiny number of players anyone outwith Scotland might be interested in.
And then the players that just might interest a Scottish club on a free transfer or fairly nominal payment will be offered washers compared to their current Ibrox wages. So why would they leave?
We know a lot of gambling goes on at Ibrox and if I was a player I would sit tight and take the big money as long as possible and prove to the Bears I didn’t do walking away.
The only way I would move would be if MASH or some other kind benefactor bought-out my contract in full and I don’t see MASH or Ashley doing that.
He would probably be quite happy to keep most of the squad but with a 50% wage cut overall and I really watch with interest to see how he achieves that.
Obviously disposal of the coaching team would go a long way towards achieving the cost-cutting target and McCoist’s position has been so undermined with most Bears that few would miss him IMO. But he’ll want his money to walk.
He could be put on gardening leave notice and another manager or ‘Football Director’ installed. McCoist is a fairly tough cookie underneath his cheeky-chappie front but being sidelined or the threat of it may see him do a deal and his assistants would go as well.
That might also pressure some of the players to decide to make a move and take a more realistic wage elsewhere after taking a reduced cheerio payment.
So many imponderables and I doubt there will be any leaks from the Ashley Camp until things actually happen.
I just wonder if the new Rangers security set-up will be retained or whether they will go back to hiring from one of the big operators? That could look like cutting jobs but certain levels of security still have to be paid for so maybe not a big saving unless there is an onerous contract involved although I have no actual evidence of that.
Lots of twists and turns to come and not much time left before the Ibrox merry-go-round grinds to a halt.
ecobhoy says:
November 12, 2014 at 12:22 pm
But I just feel that shifting players come January will be nigh impossible because of the dual effect of mickey-mouse offers from potential buying clubs for the tiny number of players anyone outwith Scotland might be interested in.
======================================================
Expect some shock moves and lateral thinking. Deadwood players loaned out for half their salaries to deadwood clubs acrosss Europe and beyond. Does constructive dismissal law apply to football contracts. They’ll be begging for a free transfer by the end of the season.
Reminds me of Karen Brady’s story. As she emerged from the Birmingham City team coach loo, one of the players shouted “I can see your tits from here”. Karen replied “You won’t be able to see them from Carlisle when I loan you out.”
Mike Ashley returns Rangers’ naming rights. Isn’t that nice?
http://www.managementtoday.co.uk/news/1321595/mike-ashley-returns-rangers-naming-rights-isnt-nice/
Blimey, I assume Adam Gale has never worked on a SMSM sports desk, becasue he’d know his place and would not embarrass himself by being so vulgar with his opinions.
Someone mentioned on a twitter debate that this agreement has given possible ST processing and payment to SportsDirect via their CC facilities. That would put incoming cash straight into Ashley’s newly acquired SD sporran.
Anyone heard that/seen the small print?
And has a deal been struck at the Chateau de Nouveau Rangersness whereby CG got the naming rights back in exchange for some IP logos/crests?
Newcastle: Ashley Using Naming Rights For Good PR Again
http://whatculture.com/sport/newcastle-ashley-using-naming-rights-good-pr.php
And those Mags aren’t any better either. Those bloody foreigners coming here and taking our cushy SMSM NUJ jobs – undercutting us at rock bottom, lamb-free rates.
Ashley increases Rangers loan; Sports Direct deal revised
http://www.sportspromedia.com/news/ashley_increases_rangers_loan_sports_direct_deal_revised?utm_source=feedburner&utm_campaign=Feed%253A+SportsProDailyDeal+%2528SportsPro+Media+-+Latest+News%2529&utm_medium=feed
Long ago on Random Thoughts I remember saying that soon ,very soon, this massive sports story will break out beyond the limits of the SMSM sports desks and light will be shone on the whole sorry mess. Well it’s only taken three years but there are signs that the combination of Ashley’s business profile and the venom of the Mags may finally be breaking the silence of the lamb-eaters.
1M shares in Rangers Int just traded at 26p / share.
Not The People, Just Some People
“One thing is sure. Ashley’s involvement with Rangers just adds to the fans’ confusion at Newcastle about what is actually going on and what does the future hold for us.”
“But after seven long years under the current ownership, with next to nothing in terms of communication between the owner and the fans, nothing they do can surprise us any more.”
http://www.utd111.co.uk/blog/2014/11/12/more-confusion-for-united-fans-as-ashley-gives-rangers-another-million/
Aberdeen seem to be the latest club reaching financially safer shores and has been commented on at CQN
http://www.celticquicknews.co.uk/?p=16361&cpage=2#comment-2379562
The blog ends with the culpability of Sir David Murray in selling to CW, but I think it goes way beyond that and SDM’s legacy really has to be recognised in order to start correcting the damage caused by his business decisions and actions.
SDMs culpability did not begin of course when he sold RFC to Craig Whyte, nor has the damage he caused been limited to RFC.
The legacy SDM has left Scottish Football is horrendous and it hampers our game to this day. Aberdeen are only one of a number of clubs recovering from the days of trying to compete with SDM’s excesses. Dundee Utd, Hearts, Killie etc are either becoming financially stable or moving in that direction by simply observing a “spend only what you can afford” philosophy.
That puts them and other clubs competing against TRFC at a major unfair financial disadvantage and yet there appears to be no moves afoot to introduce a stringent level of financial licensing into our game by the clubs. The principles of UEFA FFP have been adopted in domestic competition in England, so why not in Scotland?
Their absence and regulations to implement them makes it possible for the financial “basketnaut” that is TRFC to continue to roll and so play a role in making our game unfair.
My theory is that there are two reasons strict domestic FFP is not on the agenda.
1. The fear that if FFP were introduced and stringently applied, TRFC would either lose a sizeable part of the support base that follow them from the game and the income they generate or worse fail to get a licence (on which SFA membership should depend)
2. The conditions that would encourage clubs to adopt stringent financial fair play rules do not yet exist amongst enough clubs sufficiently financially sound not to fear the consequences of such a move, (that is it might be more than TRFC who fail the licensing criteria.)
On 1 . With the TRFC support base diminishing anyway and other clubs in the top tier at least benefitting financially from TRFC’s absence, that Armageddon cry no longer has the potency that old Hugh Keevins and other press cohorts believe in and cry at every opportunity. A big club might claim they are too big to be lost to football but TRFC can no longer afford to act like a big club and, helped by stringent FFP ironically, would find their proper fair level.
On 2. The more clubs that become financially sound the less they have to fear from FFP. In fact if they are observing it and one club is driving a coach and horse through it the more likely they are to want a domestic form of FFP. It is quite simply in Scottish football’s best interest to move this way.
However lets not forget who brought financial instability to the shores of Scottish football and caused many clubs to financially over reach and go through their own administrations or downsizing from which they are now emerging.
How long before enough Scottish clubs acknowledge the true history of Scottish football and the part RFC and Sir David Murray played in crimes against it?
How long before supporters get an admission about the true extent of crimes against our game and steps are taken to avoid a repeat, starting with those still in power at the SFA who turned a blind eye to lies, deceit and the total breaking of trust introduced to Scottish football by Sir David Murray, providing a legacy that continues to poison our game?
Only the truth, the whole truth and nothing but the truth will set our game free.
Martin
Both buyer and seller will be interesting, but then twas ever thus!
You would bet on seller being an offshore entity cowering back to darkness and obscurity (although if they’re penny shares, not exactly impoverished either). Buyer? Either whoever is patsy for Ashley, or possibly the rebel block trying to block his fiendish cunning plan of actually paying for stuff!
A secondment to Oldham?
futbol says:
November 12, 2014 at 2:02 pm
Not a bad idea as it puts him closer to the BBC at Salford so he can get his old Question of Sport job back.
mcfc says:
November 12, 2014 at 12:10 pm
I think the word is
metanoia
meta|noia
Pronunciation:
Definition of metanoia in English:
noun
[mass noun]
Change in one’s way of life resulting from penitence or spiritual conversion:
‘what he demanded of people was metanoia, repentance, a complete change of heart’
This will probably be taken as irony but I am genuinely being serious. Given the number of “realmen” with EBTs, could they not have clubbed together to buy shares (recently or in the past)? It’s not like they’re worrying about having to pay back the loans this month.
Put that together with the Paul Murray collective and Dave King, with or without fan shares I would have thought that was a viable option with a level of cohesion rather than the pound sign-shaped cartoon eyes that the current incumbents have in common.