LNS is currently back in the headlines. It might therefore be a good time to try to set out a timeline describing correspondence we had with the representatives of the authorities over discrepancies and anomalies that appeared to have arisen. None of this is necessarily predicated upon the recent findings of the CoS in the Big Tax Case, but stands on its own.
Back in February 2014 The Scottish Football Monitor wrote to Harper MacLeod, the law firm that the SPL had engaged to gather evidence for the Lord Nimmo Smith (LNS) Commission investigating the full and proper registration of players paid by Rangers Football Club under Employee Benefit Trust (EBT) arrangements.
The initial set-up of the LNS Commission on 5th March 2012 by the SPL (View File) charged LNS with a look at EBTs from 1st July 1998 (when the SPL came into being).
In practice though, the Commission only looked at EBTs from 23 November 2000 onwards.
This change of date was based on the earliest side letter supplied by Duff and Phelps, although Harper MacLeod had requested ALL documentation from 1998 to March 2012 relating to ALL EBTs.
This prompted a series of letters to Harper MacLeod from The Scottish Football Monitor, although Harper MacLeod’s replies failed to address the issues raised.
The passage of time blurs memories but this archive is designed to remind readers of those blogs and correspondence, and the key points contained in them.
It also highlights the apparent inability or unwillingness on the part of the SPL and SFA to engage with us in any meaningful way.
NB: The SFA were informed of our correspondence by Harper MacLeod in October 2014.
It is extremely difficult to be concise in this situation. There are various strands of argument and details seemingly small, but vitally important – however the following is an attempt to make the material accessible and provides links to the relevant files in chronological order (links are in green).
- Item 1: The first SFM letter of 19th February 2014 to Harper MacLeod
- Item 2: The Annexes containing the documents apparently not supplied to Harper Macleod in the spring of 2012 along with other pertinent information about the testimony given to LNS during the Commission.
- Item 3: The SFM response of 29 March 2014 to Harper MacLeod’s reply to the first letter.
- Item 3.1: An SFM analysis of Harper MacLeod’s initial reply attached to response at 3.
- Item 4: An SFM blog of 5th September pointing out how the documents not supplied had a direct impact on the advice given to the SPL Board to accept The Decision of The LNS Commission.
- Item 5: The last letter of 4th October 2014 to Harper MacLeod answering points raised by them (see next) and thanking them for passing our correspondence to the SFA Compliance Officer who has so far deigned not to reply.
- Item 5.1: Harper MacLeod’s actual response to SFM 5th September letter.
- Item 6: An SFM Blog (Inc. a transcript of an interview between Alex Thomson and Stewart Regan).
- Item 6.1: Truncated version of above blog.
- Item 7: A clearer extract of key document from Item 2 Annexes
Having no locus to demand answers from the SPL or the SFA, all we can do is provide information – information that we believe presents a prima facie case that LNS was deeply flawed even before the latest developments in the Tax Case came to light. The challenge for us is this: what can we do about it?
It is clear from the meagre response we have received that the authorities are unwilling to engage with us, so it is fair to assume that further correspondence will be met with the same lack of response.
Are we merely a bunch of obsessed nut-jobs with our own take on the Flat Earth conspiracy? If that is the case, surely a few words of explanation to dispel our doubts would have had traction with the rest of the football public. Indeed the lack of any reply undoubtedly serves as confirmation of our belief that something may be seriously wrong.
The questions have been posed. The SFA appears to think that not answering them is a wise course of action. Given that anecdotal evidence presents a compelling case that the general football public are widely in agreement with us, are there any journalists out there who will take the time to look at what we have observed and what we seek clarification on?
There are undoubtedly inferences to be drawn from the evidence we have, and from the silence of the authorities.
The statement by Celtic on Friday 13th November is certainly a start in the process we wish to begin, but it only mentions the elephant in the room. It gives no clue about how it could be transported to another place.
In the first instance we at SFM seek only explanations, and despite the inferences mentioned earlier, we are still eager to be satisfied that rules were followed and justice done.
Is there really nobody in the MSM who has the courage to seek the answers we seek? I suspect not. What we do in the absence of that courage is important. We are at a crossroads. Either we give up on the game altogether and spend our Saturdays and Sundays doing other things – or we find a way to get these questions out of blog pages and into the mainstream.
We need an alliance of fans of all clubs to do that, and we will be looking to build that alliance. I would urge fans of all clubs to give this material to fan sites of their own clubs.
These are not just words. There can be no movement on this issue unless our reach is extended. SFM alone does not have the clout required to bring the clubs to the table or the MSM to fair and balanced reporting. We need that alliance of fans desperately. We don’t seek leadership of that alliance – but we are happy to provide it if required.
This is not a campaign to have Rangers punished. I understand that Rangers fans (since their club is in the middle of this mess) are reluctant to see us as anything other than a bunch of Rangers haters.
That is unequivocally not the case from the perspective of the moderators of this blog. SFM is committed to justice, and to the integrity of the sport we all love.
Justice is ON THE SIDE of Rangers and their fans – it does not conspire against them. A growing number of Rangers fans are coming round to our way of thinking and our tone must reflect that. This is not a Celtic or Hearts or Aberdeen or anybody else v Rangers issue. This is a fans v corrupt authorities issue.
We all deserve answers, and hopefully our alliance will compel each individual club to act in the interests of the fans .
To me it means the CIC pledged money cannot be converted to shares and by dint of their constitution cannot be used. So another fine plan up in flames.
Smugas 1st December 2015 at 3:04 pm
Nicely summed up.
I think it was a few months back but it has been said on here before by others that Ashley, given all the aces up his sleeve, would most likely be happy to see the club continue in one form or another with either a) him having a degree of control over his income streams through conditions to his loans and the RRl deal and/or b) someone else parting with the required cash to keep the lights on and having to do all the hard work running the club on an emotional attachment basis.
By claiming to be Real Rangers men they have boxed themselves into a corner with regard to an expectation they have deep pockets that will be plundered regardless of the circumstances.
If they don’t live up and to that then who will get the blame?
Wottpi,
Precisely. Or to put it another way, it would appear that RRM simply don’t appear to understand what making a loss actually implies, whereas Mike (unsurprisingly given his background) patently does. Particularly a heavy loss made, no offence fellow diddies, in a lower tier division.
Of course, to be fair to poor Paul and Dave, it might be explained in that presumably SDM described continual losses going back over 20 years as purely a tax saving dodge.
Now who’s pinched the irony smiley!
Edit: By the way your (a) and/or (b) above just screamed one word to me – NEWCASTLE
I very much doubt that the would be lenders were going to lend solely on the premise that one day they would get share certificates in exchange for their loans. I’m pretty certain it would be on the understanding that more money would come into the club, over and above their own ‘investments’, through sales of shares to supporters, wealthy and ordinary, with the hope that some ‘institutions’ might join in. This might then create (they would be hoping) a scenario where their monies would not be lost in an insolvency event, and instead kick off an ever improving future.
Now they will have to look at the likelihood of their generosity being all that stands between the club and insolvency, with the existing loans, and immediate £5m requirement, making not one jot of difference to the future as it merely pays historical working capital, with much more required to see out the season. Even more, of course, will be required for next season, regardless of what division they are in. Then the next…
There may be the opportunity in the future to raise more share capital, but a surprising number of supporters with shares have shown an unwillingness to back the board on this issue. More and more uncertainty for the business, added to an awful lot of existing uncertainty, and decisions to be made over personal fortunes by men who have already sunk large wedges of cash into RIFC/TRFC.
Smugas 1st December 2015 at 3:55 pm
Edit: By the way your (a) and/or (b) above just screamed one word to me – NEWCASTLE
Indeed, I was thinking the reverse the other week when the Toon got beat at home 0-3 to Leicester in front of near capacity 50k emotionally attached fans still paying out despite the current downward spiral.
He chooses his customers well!!
Maybe or maybe not related in any way to the AGM outcome, but Mark Warburton is now strong favourite for the vacant Fulham job. Second favourite is Dick Advocaat (I thought he had retired?)
Only thing I’d add AJ (went back and checked not EJ
) is that said lenders have been triumphantly committed to doing so (I agree with you, the alternative wasn’t pleasant) by a man who himself appears to have allegedly committed SFA.
And where’s that irony smiley gone!
The daily record, in desperation it seems, print the following headline.
Davie Moyes kills off Celtic rumours as he eyes a return to the big leagues
The only quote from Davie Moyes says “I’m open minded and Spain whetted my appetite. If the right opportunities came up in the major leagues I’d be interested.”The experience will help me. I gained great knowledge from my time there. It was great to experience what I did and I hope that will make me better.
“It’s very difficult to compare the two leagues. The best teams are in Spain and many of the best players are in Spain.”
So there we have it then. No mention at all of “snubbing” Celtic who, to the best of my knowledge don’t have a managerial vacancy but still a chance for the Record to have a wee dig.
In other news at the Desperate Record there appears, three hours after the official board announcement of the AGM results, nothing to be reported from Ibrox where all is well and theY inform is the magic hat is telling both Fulham and QPR to do one.
And the rangers fans think the DR is against them? Unbelievable how the SMSM are once again leading their fans up the garden path.
jimmci 1st December 2015 at 4:16 pm
Funnily enough Warbs is now the bookies fave for the Fulham Job.
I just noted comment in an article from the Telegraph down south (as opposed to Roddy Forsyth putting a blue spin on things) saying the rumours were he was keen to get back to London but unfortunately can’t find the link.
As opposed to players being sold to keep the kitty full what a laugh if it was the Magic Hat Wearer’s compensation package that was this winter’s ‘Lewis McLeod’.
johnjamessite.wordpress.com/2015/12/01/the-easdale-proxy/ …
jean7brodie 1st December 2015 at 4:42 pm
JJ’s short blog post:
“I have been informed by a very reliable source that 10.4% of the Easdale proxy was allegedly stripped of their voting rights at the AGM. If this allegation is true, will this underfunded, discredited board explain to shareholders their rationale for excluding 8.47m votes from all resolutions?”
I don’t know how this could possibly come about and wonder if or how this might have affected Easyjambo’s voting percentages calculation!
Thanks AJ. I’m rubbish at this
This was done months ago:
http://rangers.co.uk/wp/wp-content/uploads/2015/10/Rangers-International-Football-Club-PLC11874016_1.pdf
They wrote to them, didn’t get a response, and so removed the voting rights.
Despite that they still couldn’t get the special resolution passed, so it was all for nought.
jean7brodie 1st December 2015 at 4:56 pm # Thanks AJ. I’m rubbish at this
Pleasure Jean. Much of all this copying stuff is beyond me too
y4rmy 1st December 2015 at 4:57 pm # johnjamessite.wordpress.com/2015/12/01/the-easdale-proxy/This was done months ago:http://rangers.co.uk/wp/wp-content/uploads/2015/10/Rangers-International-Football-Club-PLC11874016_1.pdf They wrote to them, didn’t get a response, and so removed the voting rights. Despite that they still couldn’t get the special resolution passed, so it was all for nought.
__________________
Of course, Y4rmy. I was reading it as being the Easdale shares, not the proxy vote
. I wonder if JJ has made the same mistake and misunderstood too? Thanks for pointing it out.
jean7brodie, Rubbish is never a word I would associate with you! You are in your prime!
(Bet you’ve never heard that one before)
jimbo 1st December 2015 at 5:11 pm #
[If not already mentioned ?]
Just noticed Phil mentioning that Angela Haggarty has been appointed a columnist for the ‘Sunday Herald’.
Congrats to her, and especially after the harassment she had received online.
Even though she is relatively inexperienced in comparison, I’m sure she will add much more value to the paper than the likes of Spiers.
Bold move by The Herald.
StevieBC 1st December 2015 at 5:24 pm #
Posters on the Bears Den were up in arms about this a couple of nights back, Stevie. They see it as yet another sign that the Herald is a “Rangers-hating rag”! In fact, it was seen as further proof of the anti-British takeover of all positions of power in Scotland!
neepheid 1st December 2015 at 12:05 pm
‘…From Adrian Durham in the Mail…’
_______
Unfortunately, the occasional contributor to the Mail, Adrian Durham, is not given any kind of email address at the Mail.
I have therefore had to send the following letter to the Editor with a request that it be forwarded to Durham.
“Dear Mr Durham,
You say today:
” they say it’s a new club formed after summer 2012, and they are campaigning feverishly for Rangers to be stripped of their titles.
Unlike you, we are actually simply stating the truth: Sevco Scotland was founded in 2012. It changed its name to The Rangers FC Ltd.
It manifestly cannot be the same entity that is languishing in Liquidation. Simples, as that irritating wee beastie with the Russian accent says.
The club that is dying in Liquidation (Rangers Football Club) fielded ineligible players for more than a decade. Each and every game that they won while fielding even ONE ineligible player is forfeit under the rules, the score to be 3-0 to the opposing team.
There is nothing ‘feverish ‘ in the repeated, calm, assertion that titles ‘earned’ by cheating must be stripped from the records.
That is the simple footballing truth.
You might be Goebbelsian propagandist enough to wish not to acknowledge Truth.
That is your misfortune. And perhaps the ‘Daily Mail’s.
Yours sincerely,
John Clark”
Obviously today’s news about Resolution 12 is of far more importance to the current Ibrox club than the news that BDO were seeking leave to appeal the BTC. It also turns the hack euphoria of Friday’s AGM on it’s head, at least for now. Does anyone know if any of the usual SMSM suspects, Jackson, Jack etc are letting their thoughts be known on Twitter, or elsewhere? Or is it too hard to spin?
wottpi 1st December 2015 at 4:36 pm #jimmci 1st December 2015 at 4:16 pm
Funnily enough Warbs is now the bookies fave for the Fulham Job.
I just noted comment in an article from the Telegraph down south (as opposed to Roddy Forsyth putting a blue spin on things) saying the rumours were he was keen to get back to London but unfortunately can’t find the link. …..
……….
it’s been a wee while since I used it, but I think he can get a a train from Ibrox subway to St Enoch and then he can get any number of trains from Glasgow Central to London. …..!
Sorry, wottpi.
OT but I see from the Scottish Cup draw there will be a few Big teams going out in January. Rangers have an ‘easier’ tie AT HOME again which should see them into the 5th round and with a few ‘difficult’ teams removed. Now off the back off JJ site claiming the SFA “represent the best interest of Rangers” you may wonder how far that goes???? Especially when cash projection for cash flow for them to finish the season is at best doubtfull!
The AGM vote will have thrown a big spanner in the works of the Board.
Resolutions nine to eleven would have given the Board the power to issue shares to themselves and allies on very favourable terms while diluting everyone else’s voting power and Share value.
Obviously they need to get in the money to pay off Ashley’s loans. They didn’t do a big U-Turn at a panic Board meeting just prior to the AGM because they suddenly thought it was the right thing to do.
It was the right thing to do because Ashley would do something much worse if they refused.
I could not even guess what plan B will be, I am sure that it won’t involve openness and honesty though.
Do you remember when there was a tad more honest reporting just 3 years ago? This from the BBC 13 July 2012:
“Rangers chief executive Charles Green says he will not challenge the vote by the Scottish Football League to place his new club in Division Three.
At Hampden, 25 of the 30 clubs were against Rangers being in Division One.”We are grateful to be accepted as members of the SFL and accept their decision to vote us into Division Three,” said Green.
“We made clear we would play where we were told to play and we just want to get back to playing football.”
Green’s Sevco consortium had been forced to apply for entry to the SFL after Scottish Premier League clubs voted against the new Rangers being admitted to the top flight with the old company destined for liquidation.”
Note, “vote us INTO” ( not demotion) “apply for ENTRY to the SFL”
What on earth happened in the interim, that we are all bampots? Oldco & newco was accepted then.
Regan and Doncaster are cowards and should be hunted back down the road from wherever they came from. That’s not to say a lot of clubs if not most, are complicit in allowing things to get this far. Every club in Scotland should be screaming out ‘strip those honours!’ Unfortunately Turnbull Hutton type folk are rare. Wee men with proudly worn blazers, their big claim to fame in a small world of their imagination. They make me sick.
It’s only us fans that might make difference.
I know it’s stating the obvious, but this company is a complete financial basket case
RRM will keep the lights on with continual soft loans, but until someone gets a hold of the business, and makes it financially sustainable, this will be the future
Being financially sustainable will not suit the ambitions of the peepil, who believe that they are entitled to the same level of financially doped success as the old deceased RFC
Reality will bite
Whether it’s now or in the near future is the only question
Hope you don’t mind me posting this link of a piece by Kevin McKenna (he used to be a close friend of mine and I got pelters on here for saying a few months ago he was a good journalist) but seeing as it is about the ‘Living wage’ in football and it has been topical regarding Hearts, Rangers and Celtic thought you might find it interesting.
http://www.theguardian.com/commentisfree/2015/nov/28/celtic-fc-living-wage#_=_
But how long do a limited number of RRM do that, Joe? None of them can really afford to risk a massive amount on loans without any security and probably don’t really want to. Now, it may be that they can come up with another £7.5m to free up the properties but how much are they really worth? With their loans already totalling about £5m, the question has to be asked whether the current Ashley held securities are really worth £12.5m or more? If the fans CIC is not able to make soft loans then that will be another few million that will be required. Interesting times ahead
scottc 1st December 2015 at 7:20 pm
The answer is they can’t, as the current RRM don’t have the funds
There is no bottomless pit of money, and eventually the funders will say enough is enough
The choice is stark – sustainability or oblivion
campsiejoe 1st December 2015 at 7:00 pm I know it’s stating the obvious, but this company is a complete financial basket caseRRM will keep the lights on with continual soft loans, but until someone gets a hold of the business, and makes it financially sustainable, this will be the future
============================================
Derek Llambias, 5th March 2015, “Where’s your money, Mr. King?”
Still waiting & the answer is more important than ever after today’s AGM news…
Jingso.Jimsie 1st December 2015 at 7:49 pm
And that is the $64,000 question
Time to put up or shut up, and I doubt it will be put up
Very happy to see Trisidium now has 98 votes for his opening article on this blog. But I was over the moon to see justshattered’s post getting 400 + TUs – very well deserved. I didn’t realise we had so many ‘readers’.
So come on 2 of you readers vote for Tris. to get him over the 100 mark. (That’s when his Christmas bonus kicks in and he can buy a few stocking fillers)
Just a thought, and apologies if anyone has mentioned it, I haven’t been about.
It was RIFC’s plan to pass a special resolution for the disapplication of pre-emption rights. Meaning that shares could be sold to whoever they wanted at whatever level they wanted.
It is generally taken that the major shareholders (excl Ashley) would put up enough to pay the £5m debt to SD plus the £2.5m to see out the season. That, along with the £3.75m they were already owed would be converted (wholly or in part) into shares in the PLC. At the same time diluting everyone else.
Obviously that can’t happen now, without a general meeting to pass it. The only option is really to have a share issue (possibly under-written by the same major shareholders).
The question is though, how easy would that actually be without a market listing and how quickly could it be organised and done.
It strike me that life just got a bit more complicated for Dave King and his board. Including but not limited to short term funding … paying the bills as they fall due.
jimbo 1st December 2015 at 8:09 pm
‘….So come on 2 of you readers vote for Tris.’
________
You’ll pardon my ignorance/blindness: I never ever noticed the ‘voting’ option on the leading blogs! Was that always there? I’ve therefore never voted for any of the excellent leader posts!
I suspect that I can’t be alone, elsewise there would have been a stack more over the years, I’m sure.
Oh thank goodness. 105 votes now. On behalf of Tris. and our team I thank you with all my heart. However that’s me finished with all this electioneering, it brings me back to 1997 when I pounded the streets for Tony Blair. It all started off so well. But seriously it was a great article from Tris. and many many others on here. As Allyjambo said earlier on some are gifted and do the hard work, then there are others like me who just like the smilies.
but then we can’t all be the same. 
—————————-
JC I suggested that to the mods a couple of days ago but no one ever listens to me.
I had to look twice at this ‘automatic’ acknowledgement ( and isn’t it good when organisations observe the civilised decencies?) of receipt of my email to the Daily Mail.
anlpostmaster@assocnews.co.uk
Glad that there are no reports of casualties at Ibrox. A good bit of stewarding, as well.
Start of 2nd half at Ibrox delayed as the stadium is falling apart.
Fans being moved from Sandy Jardine stand due to fabric of the roof around the half way line being loose and presenting a safety hazard.
A precautionary safety evacuation of the area as the good news is that no-one appears to be have been injured.
(So much for just needing a lick of paint.)
Now 121 deserved votes for the Big T
jimbo 1st December 2015 at 8:09 pm
I was pleasantly surprised that my post seemed to strike a chord the other night.
Ironically BDO chose to announce the following morning that they were seeking leave to appeal so my email is parked for the moment. However the underlying premise behind my post still remains.
Our SFA are incompetent at best and corrupt at worst, Regan and Doncaster long ago attached themselves to a sporting millstone ethos that will not enhance our sport but gradually strangle it to death.
The media are locked in a circulation death spiral and they know that they have lost credibility with most fans so they are clinging to the only lifeboat they have left. Yet that lifeboat seems to be taking on water and the message they are delivering is becoming more extreme with each passing day. They seem to be of the opinion that if they insult people who don’t agree with them then they look superior. They refuse to enter into any grown up debate. No counter view point is allowed on any show so debate is stifled allowing the even more extreme elements to appear the norm. It really is a ridiculous state of affairs particularly when you consider that one of the outlets is the national broadcaster.
Finally the clubs themselves appear paralysed by the events that have unravelled over the last four years. Some, I think, don’t believe the levels of incompetence / corruption that has taken place in their name. That is where we, the fans, come in; THESE ACTIONS AND DECISIONS HAVE BEEN MADE IN THE NAME OF EVERY CLUB IN SCOTLAND and that cannot be allowed to continue. Our lobbying worked in 2012 and it will work again particularly if the leave to appeal is rejected round about season ticket renewal time. If not then when the Supreme Court delivers there final result, one way or another, my email will still be winging its way to my club.
wottpi 1st December 2015 at 8:56 pm # Start of 2nd half at Ibrox delayed as the stadium is falling apart.
Fans being moved from Sandy Jardine stand due to fabric of the roof around the half way line being loose and presenting a safety hazard.
A precautionary safety evacuation of the area as the good news is that no-one appears to be have been injured.
(So much for just needing a lick of paint.)
______________________
As much as we criticise the club and it’s supporters, this sounds pretty scary and so glad there’s no reported injuries. I presume Glasgow is experiencing high winds at the moment to explain the incident, and if so, I hope we all remember that it could happen to any stadium, even the best maintained.
Happened at the Well luckily prior to kick off advertising hoarding shut away end
The Rangers nil? Who missed the penalty? @ 1:43 pm
“…. the people who are.”
Worthy of more than a mere thumbs-up.I will be adopting that, if you have no objection.
Justshatered,
I wonder which demographic are still keeping these rags alive? Rangers fans seem to hate the Dailys as much as anyone else. Is it a gender thing? Gossip, celebrities, soaps etc. etc
Much as I hate to admit it, the SMSM (print) still have a base line. They have access to press conferences, access to players and managers. From there we can take them to task but they start the debate. I try not to click on them, try to get my news on here – cut & paste stuff – or from news now, ‘Talking Baws’ , HITC’ ‘Inside Futbal’ etc.
But the pathetic idea of the Scottish press that the more sensational they are about Celtic & Rangers (sorry other clubs) will garner them more readers, is failed. If there are any fans reading this who contribute to those gossip columns in the retard, please don’t.
Kicking the Big Tax Case to next year – to the Supreme Court – might just work in our favour. We have waited so long now. Final, Final, Finality. Time to start stripping titles. Just in front of season ticket renewals.
I did wonder if JJ had just missed it. He is an avid reader of RNS announcements, etc and there was one previously on the subject of those proxies which stated that there was no grounds to withhold or restrict any voting rights.
Other than a change in the composition of the board room one wonders what else has changed that would have changed the position on those proxies.
Allyjambo 1st December 2015 at 9:21 pm
Indeed, the weather has no concern for a club’s bank balance or the condition of stadiums, well maintained or not.
By all accounts the issue was dealt with professionally and quickly by the club and stewards and the fans acted in the correct manner, so well done to all involved.
Daily Record showing pics of a small section of cladding, so nothing overly major.
However is this not the second incident involving fans having to be moved during a game due to loose roofing over the last year or so?
Clearly something that the club could do without and will need to investigate.
justshatered 1st December 2015 at 9:11 pm #jimbo 1st December 2015 at 8:09 pm
I could not agree more. What I cannot understand though, is why they think that every supporter in the land, who ended up having to finance Rangers domination of their own teams, would want to return to such circumstances.
wottpi 1st December 2015 at 10:43 pm
“However is this not the second incident involving fans having to be moved during a game due to loose roofing over the last year or so?”
—————————————————————————————
I believe so and am sure I saw some Willie Vass photos of it. I think that was the Copland Road stand.
Glad there was no reported injuries, but prevention is always better than the cure.
Ach well. At least the roofing contractor can rest easy knowing they will not try to pay him with share certificates. Hope they issued spectators with dust masks !
So the voting at the AGM means they can’t now issue shares to those wealthy RRM that are apparently just waiting out there to offer loans they can turn into equity later.
Ahead of the AGM they released the good news ‘voluntary’ statement that they had decided to repay MA’s £5m. This got them some kudos with the fans (both paying attendees and those in the SMSM).
You don’t think they did this just for the kudos purely in the belief/hope that they would achieve the 75% required, do you? If so, it’s another stupid decision by them and/or their PR machine. Also if so, can you imagine their panic now wondering how they might convince those wealthy RRM still to go ahead? (That assumes the wealthy RRM willing to offer loans do actually exist, of course).
I really hope someone asks when the promised repayment will happen. Won’t hold my breath, though.
https://theclumpany.wordpress.com/
Needy Celtic Fans
“I think it is worthy of note that such frothing nonsense as his latest Daily Mail piece is presented as serious commentary in a mainstream publication. Because it causes you to think about the motivation, processes and editorial decisions that bring us the ‘news’ every day.
And getting to grips with those issues takes you some way down the track towards understanding what makes our society tick. And for all I laugh at the media portrayal of all things Sevco, the deeper interest for me is in the wider issues it raises about the things we are told, and why we are told them.
Let’s face it, if you live in a liberal democracy and newspapers can blithely do something like proclaim the death of a football club on their front pages and then change their minds, then that’s extremely interesting for all sorts of reasons!”
Well done!
I made a point yesterday (30th November 2015 at 8:48 pm) about the EBt’s and it was 11 v 11 won on the pitch mantra espoused by ex players etc. I was just thinking to add further to my post can anyone name a team in the history of the Scottish League & Cups who lost a match then decide that even though their opposition fielded an ineligible player that the result should stand. “Look we lost that match, it was 11 V 11 and the fact that a player hasn’t signed a form or is improperly registered is neither here nor there, we lost Simples”. Celtic certainly didn’t in Champions league qualifiers, they let the authorities make the decision for them and kept stum. So if every team has seen fit to accept any judgment passed down after a match has been played why cant they accept that any match play by Old Rangers during that time should be altered. How does the disqualification announcement after a game has been played fit with Mr Bryson’s explanation on these matters, never seen a game abandoned half way through. If you find out there was a clerical error after the game has been played is it not to late to change things, apparently not ! Never worked that way until the EBT’s came up, wonder why !
Storms and high winds can wreak havoc on even the best maintained structures.
In the 1999-2000 season, high winds tore away part of the guttering on one of the stands at Celtic Park.
This led to the cup tie v Inverness Caley to be postponed, until the following Wednesday.
That was the night when Caley went ballistic and cost John Barnes his job.
This led to the appointment of Martin O’Neill.
A case of an ill wind, etc.
Thom the Thim, I remember both games, the first one was a Saturday afternoon 3pm. Remember those days?
Ah, Jimbo, those were the days, my friend.#maryhopkins
I got a post pulled earlier which I have apologised to the mods for. This is one of the strictest blogs on the internet, rightly so.
However, I still have a point to make.
It is rumoured that journalists browse the likes of this site, even although they do not admit it and call us ‘bampots’. The eulogy from James Traynor at the Daily Record is a classic. How wrong has he been shown to be on so many levels? If I was him I would be totes embarrassed.
So this is to you journos., we all recognise that the majority of you were Rangers supporters as kids. But you grew up? No? I knew Scoop Rodgers who was one of the best scribblers about, and a good football agent to boot. He was not a Tim but neither was a he a coward nor a sycophant like you lot. Grow a pair. there must be a pair between the two most disappointing journalists in the history of our game – Tom English & Graham Spiers – cowards. My Opinion only. All the rest of the journalists in Scotland are meaningless. Esp. you Jackson, Awards? phhtt. a joke.
ThomTheThim 2nd December 2015 at 12:07 am #Storms and high winds can wreak havoc on even the best maintained structures.In the 1999-2000 season, high winds tore away part of the guttering on one of the stands at Celtic Park.This led to the cup tie v Inverness Caley to be postponed, until the following Wednesday.That was the night when Caley went ballistic and cost John Barnes his job.This led to the appointment of Martin O’Neill.A case of an ill wind, etc.
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I remember walking out of Dalmarnock Station that Saturday to walk up to Celtic Park, wondering why so much traffic was heading in the opposite direction. Soon a gentleman informed us the game was off. You are correct that storms and high winds can wreak havoc on even the best maintained structures, but that did not stop media ridicule towards Celtic in the following days. IIRC some of the more extreme elements even called for the club to be fined. It would be fantasy land to expect any similar reports or demands about the Ibrox problem, but the good thing is as others have said no one was hurt.
Just read an article by the level 5 influenced BBC Sevco PR man , Richard Wilson on Fulham’s interest in Warburton.
How often in his interviews is he quoted using the word ‘respectful’? He loves a bit of respect and always answers all questions in a ‘respectful’ manner! If only we had some journalists in this country who could ask him some real questions! I note that he (Warburton) also thinks the interest of Fulham is ‘disrespectful’ to Rangers. The rice crispies ended up on the iPad when I read that one!
No doubt the PR man reads these pages from time to time so if you’re looking in Richard, just for the craic, go and throw in the odd bit of ‘dignity’ to go with some ‘respectfulness’ in your next publicly funded puff piece.
On the non passing of Res 10; ever since DCK stated “….Rangers is not a club you should be putting other peoples’ money into…”( Sept 2015) in the context of potentially resurrecting ‘Oldco’ I’ve since concluded DCK is looking for excuses for an insolvency event for cleansing purposes.Perhaps this ‘failure’ of Res 10 is another way marker towards this situation?
On the current Warburton situation it’s interesting that’s he isn’t refuting or totally dismissing this interest from Fulham. His comments on ‘Interest’ “…this is disrespectful to me, Rangers and to Fulham…” very much doesn’t say ‘my immediate future and contractual obligations are here at Rangers’. It will all be about the release clauses in his contract. Perhaps any compensation may lend towards funds for a possible ‘insolvency event’ remember CW selling Jelivic in January 2012 for funding Administration.
One of the things I have found quite telling in recent months has been the various comments, via JJ blog or the predecessor RSL site, from that bluest of blue noses Bill McMurdo. When he’s talking of stitch ups and is also strongly anti-King you would think that someone in the MSM would take notice.
It’s incredible to think of it Bill McMurdo, a guy so Rangers that his email address starts agentorange@….., is more or less aligned with us bampots.
Test
Test successful, Houston
Surely if big mike is being repaid it frees up all sorts of car parks , buildings and training grounds for the new loanees to secure their money against. So really they are just changing lenders
As the money was in the bank on Friday, given the speed of electronic transfers (even if they’d done it by BACS), one can only assume that Big Mike has his money back already.
Have I missed an announcement? Or is the devil in the detail?
Agent orange might at first sign appear to be a a punning play on words however it calls up a host of horrible connotations anyone who does not know why might benefit from a wee web search. It is sickening stuff.
@zerotolerance; perhaps this 5mil will never be paid as part of f the ongoing brinkmanship between TRFC and Ashley/
The £5m offer is conditional upon Ashley withdrawing from all litigation in regard to RIFC and the SFA’s fit and proper determination. (JJ site Nov 29th 2015)
After last nights safety issue, I have read this morning that fans have been moved 20 times in the last 2 seasons. Is this exaggeration or at least approximately correct?
Deldon
MA as far as we are aware did not set any conditions on the repayment of the loan,ok there where securities against it,standard procedure,now we are being told King has set conditions that have nothing to do with the loan,why has no one in the msm picked up on this,so we are being told the repayment is sitting in an account ready to be repaid once Big Mike agrees to back off,I can accept something like this from the G&SL,but for the rest of his board and shareholders to fall for this is beyond belief,I think BMs tanks are just about to roll into Govan.
It’s hard to speculate a route through all the transparency, but is there any evidence Ashley has requested payback?
The offer to payback after “A couple of calls to the guys” appears to have put a smile on TRFC fans and painted a rosy AGM, but how would a request from Ashley help his end, when there are much more damaging times ahead to request it…..Just before the transfer window opensand they are bragging of having loadsa, or the beginning of the ST drive when he gets first dibs.
As much as this is a U-turn from DCK, would it not be an equally large U-turn from Uncle Mick? He is holding the key to Third Rangers with the I.P.
He has DCK and the SFA in court in the next couple of months to entertain himself with, so why bother?…..What does he gain?
Media reporting Anthony Stokes suspended for two weeks following his Twitter comments at Inverness.Stokes has since apologised. Kris Commons had a very public rant in the dugout in the Molde game.He subsequently apologised.Did He receive any sanction? Serious question.
This is entirely speculation on JJ’s part presented as fact (he does a lot of that). The next paragraph says this:
IF the 5mil exists to pay the loan off, then I suspect any legal problems would be with respect to interest and/or penalties owing if MA considered RIFC to have defaulted when repayment was voted against previously. You can see yet more court appearances looming.
There’s a distinct lack of reportage on the outcome of the resolutions, in contrast to that which accompanied the AGM itself. Curious, given that the resolutions are the only events that really matter in an AGM.
yourhavingalaugh 2nd December 2015 at 10:25 am # Deldon MA as far as we are aware did not set any conditions on the repayment of the loan,ok there where securities against it,standard procedure,now we are being told King has set conditions that have nothing to do with the loan,why has no one in the msm picked up on this,so we are being told the repayment is sitting in an account ready to be repaid once Big Mike agrees to back off,I can accept something like this from the G&SL,but for the rest of his board and shareholders to fall for this is beyond belief,I think BMs tanks are just about to roll into Govan.
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I don’t think JJ is alluding to conditions set by MA, rather that the offer of repayment by King is conditional upon MA ceasing his legal actions against King and the SFA. I’d question the provenance of JJ’s statement, though, that these conditions exist, as he seems to be merely gleaning the idea that conditions have been set from King saying the repayment will be handled by solicitors. I would have thought that would be quite normal in repaying a loan of £5m with heritable securities involved.
I am not suggesting there are no conditions attached to any offer of repayment, just that I have read nothing to convince me that there definitely is. On the other hand, what JJ suggests makes a great deal of sense from what we know of King and the goings on at Ibrox, and may just be that JJ has sources to protect and is therefor very careful over giving details on how he comes about his information.
Re the Ashley Loan.
Just to recap
MA asked for the loan to be repaid earlier in May this year by way of a request for an EGM
He also asked for explanations of how the Plc failed to secure an NOMAD and how the 3Bears loan of £1.5m was structured.
The board kicked the other queries into touch but put forward resolutions to the EGM relating to repaying the loan and continuing negotiations with SD to improve the Retail deal.
The vote at the EGM said no to repaying the loan and yes to continuing negotiations.
While the SD loan facility had no published repayment date it is assumed (perhaps wrongly) that the fine print will have had some from of condition where it could be called in if other and certain conditions were breached.
It is assumed that if this was the case this is why MA may have been within his rights to call for repayment.
As discussed, it seems highly unlikely that, if MA feels he is on strong ground with regard to demanding repayment within the bounds of the original loan facility, he be at all threatened by new and ‘outside’ conditions such as those mentioned by John James.
My guess is MA would only agree to drop his ongoing fights with T’Rangers, King and the SFA if there was something else on the table that took his fancy. 30% shares, stadium naming etc etc.
Trying again
Stolen from the Scotsman comments but apparently the new kit is available for the next Sevco home game ….
PS
The call for the repayment and the EGM was most likely a pre-emptive move to protect his interests before the current board tried to remove his voting rights and dilute his shares at the AGM. From Llambais he will have known the likely end of year results and what was ahead in terms of the amounts of cash needed.
The call for repayment is a marker put down in the public domain for all to see if the doo doo was to hit the fan.
Of course we now know that the RRM have boxed themselves into a corner in mentioning via the accounts that they will fund losses to keep the operation as a going concern and seeking to repay the SD loan after the AGM.
MA is clearly in no hurry for the money so, having lined his ducks up once again, I would expect him to act at a time that best suits his needs.
PMG’s string here alludes to changing circumstances to the ‘Loan Facility’ and how this may have changed after the removal of Llambias & leach at the EGM as wottipi states.