The outbreak of internecine warfare at RIFC is being acted out through a real pea-soup fog right now. The war is being fought on so many fronts that it is difficult to see just exactly how many armies are involved, and how the alliances are shaping up.
Craig Mather would appear to be in the Charles Green camp, but it is difficult to imagine that he would be happy to hear old blunderbuss-mouth peppering Ally McCoist with shot. McCoist’s in-character but inelegant riposte, whilst a valiant attempt at deflection and self-preservation, put his mentor and chairman, Walter Smith in a rather awkward position. It gives Mather a double headache as he tries to head off Clyde Blowers boss Jim McColl – and his blowhard ally Paul Murray – at the EGM-pass.
If Mather stands by Green, and Smith does the same for McCoist, then the two main officers of the company will be in opposite, and hostile, camps.
As I say, making sense of it is difficult, but one thing is as clear as an empty window frame: the acrimony, which has been in existence for months, is only now being aired in public because the season ticket drive is over. The one policy that the warring factions have been in agreement with is “Not in Front of the Children”.
Now that the fans have been compelled to buy season tickets in substantial numbers through a mixture of fear, loyalty and a never-ending stream of press spin telling them that “Rangers are on the cusp of greatness if only the supporters cough up”, it seems acceptable that the real war can begin – but what is the prize?
There can be little doubt that all of the factions are aware that a conservative business model is necessary if Rangers are to establish themselves in Scottish football – certainly a more conservative one than that followed by RFC (IL). I infer therefore that the war is not over a Murray vs McCann approach. My best guess is that the war is one of ideals – between one faction which aims to make as much money in the short term as possible, and another which, whilst not averse to a bit of nest-feathering, sees the health of the club and the notion of a continuity Rangers as paramount.
The trouble for Rangers fans is that it is the former faction which holds all the cards – all the shares in fact. I think that all fans of the game of football would hope that people with football at heart would win out here, irrespective of what their partisan loyalties dictate on a day to day basis.
The problem for either warring faction is that the loyalty of the Rangers fans is finite. The “long road (back)” to the top is one which might engage them for while. It is a great journey which is not without its rewards and adventure, but expectations will be massive if and when they get to the top league. When the acceleration of progress meets the buffers of premier championship aspiration, gate money will be in the front passenger seat. Managing unrealistic expectations is extremely difficult, and evidenced by the use of McCoist’s recruitment sledgehammer to crack the nut of the bottom two divisions.
But here are some questions to which I honestly do not know the answer;
- How does the Rangersness faction wrest control away from these spivs?
- How will the spivs attempt to ensure that the Rangersness faction fails in their objective?
- Can the people in the Rangersness camp REALLY be trusted to act in the best interests of the club even if it is at odds with their own? This, given the close association with the terminal decline of the club they all profess to love.
- Is there any realistic scenario which allows this club to prosper and challenge for honours within a ten to fifteen year period?
My belief is that the key to the new club being able to establish itself is managing the expectations of the fans. Despite the MSM willingness to cut and paste RFC and RIFC press releases unadulterated, the ability of that same MSM to impress a message of realism into Rangers fans is zero. Not in front of the children in fact.
Is it really a sociological bridge too far to expect Rangers fans to turn down the expectation-ometer? I don’t believe it is. In the eighties, if I recall correctly, a seriously underachieving Rangers team were not met with demands for big spending. There was pressure on them to get better managers who could pick better players, but no demands for Fort Knox to be breached. If Rangers fans really want a club called Rangers playing in blue at Ibrox, and competing fully in the game, they need to find leaders who can sell the long-termism of such an aspiration. Many will hope, including the spivs and the MSM, that no such leader emerges.
twopanda says:
please [don`t] carry on
=======
I’m actually a Celtic supporter but was looking at it froma business perspective, where i though both statements were accurate.
Outbreak of rumour linking Terry Butcher with TRFC managerial ‘vacancy’.
Huxleys Brave New World says:
August 6, 2013 at 11:15 pm
Gen Apols – TSFM hopefully will delete my unfair outbursts – long day – no hard feelings
Neither the blue knights, or any other group for that matter, could have bought Rangers. Duff and Phelps were under instructions to sell it to Chuck and his friends, no matter what.
CG put £14 mil in our bank account by Friday and we will give them 20 million shares 😀
Nice way to drive the share price back up 70p a share 😯
twopanda says:
======
No worries being a lurker i see when someone pops up unannounced (especially during a period such as this) they arouse suspicious. Just felt the need to post as though CG on Sky was quire focused (for a change) and really hot his targets this time (McColl. Walter, Murray, McCoist) which (at leat in my opinion) seemed to that he had been brought back for a specific reason which is to get to the point the lockin end and they can dpeart with the money they expected to make from the outset.
Charles Green should just wear a giant squirrel suit and be done with it
either he is on a sociopathic scale that Richter couldnt measure or he is
trying to make himself the story to divert from the real issues elsewhere.
Huxleys Brave New World
Thx – tp
macfurgly says:
August 6, 2013 at 10:55 pm
Regarding the £5.5 M CG paid (sic) for whatever it was he bought, (the right to say he bought the medals and so he fought at the Somme if you wish),
_________________________________-
They were so loyal, they weren’t there.
The general consensus would appear to be that there are (impending) liquidity issues with some or all of the outfits currently operating down Govan way which may lead to administration.
I take umbrage at this being described as ‘Admin 2’ as neither RIFC plc or TRFC ltd have been in administration during their inglorious lifespans.
However, as a nod to the history books and to previous incumbents of ibroakes i would like to offer the term ‘Admin 1.5’ or perhaps ‘Wan an a hauf’? Shirley this would appeal to all parties?! 😉
“To nothing of the past is to be forever a child” – Cicero
I note that Charles says he won’t sell on the club unless he is sure the buyer has the club’s best interest at heart.
Remind me how that worked out for SDM?
* “To know nothing of the past is to be forever a child” – Cicero
-D’oh!
wottpi says:
August 7, 2013 at 12:13 am
All part of David Murray’s (very long term) Grand master plan…??
andy says:
August 6, 2013 at 9:40 pm
17 0 Rate This
CG
I wouldnt sell for £50 a share unless the buyer was gojng to move the club forward
####
A poster, could have been Jack, on RM claimed that Chuckles and Kieron Prior had a conference call from the new broker’s office where KP offered CG 50p per share. CG is alleged to have said ‘if you offered me £50 per share I wouldn’t accept because you represent Paul Murray’
The truth is on holiday.
Just caught up with today’s developments;
– McColl not interested: but I think we had already guessed that
– SFA statement: whilst encouraging it doesn’t change anything as the SFA remains corrupt / incompetent
– no idea what happens now, but popcorn at the ready 😉
As discussed last close season – it could be ideal for all concerned if there was no ‘Rangers’ at all for at least a season so they can sort themselves out – and reassess their club’s ethos.
Strange anti-climax at Ibrox this evening. The planned protest doesn’t appear too have gone ahead. Walter doesn’t appear to have “unequivocally” aligned himself with anyone, Green made a complete fool of himself – again – on camera, McColl politely and firmly reminded Keith Jackson (he really has billionaire-itis doesn’t he?) and others in the press that he isn’t in the “spearheading” business.
The call to arms has rather failed it seems, and no wonder given the 180 degree turns the press has been involved in over the piece. If FF and RM are anything to go by, Ally is toast because although they understandably hate Green, they have given up on their manager’s ability to manage. Green can probably have him canned without further damage to his own interests.
The contrivances of the McCoist outburst and the Smith resignation are to my mind a solid indication that they fear Green and his crew are very much in control. At the weekend, somebody blinked – and it wasn’t Charlie. Ironically, when you look at that embarrassingly amateur performance in his STV interview, you have to wonder how on earth he could possibly win a hand of pontoon, never mind poker.
Some think that the end of the saga is upon us. I’m becoming more convinced that we will all die of boredom before then.
A wild guess…
Now that McColl has spoken, the bears might be rather disappointed because Jackson told them the next sugar daddy was itching to squander a fortune on the Govan club.
Will Jackson just start going through the list of rich Scottish people? He might go for Michelle Mone next…oh hang on a minute… 😉
Dave King must be next for a ‘Jackson exclusive’ to be the ‘rich saviour’ of TRFC.
Carl31 says:
August 6, 2013 at 8:11 pm
14 1 Rate This
Why wait?
Rangers have some funds in the bank from STs, some share issue money left from the £22m raised and assets.
It may be the case that the spivs simply want to take as much of this as possible and run for the hills.
If you’re a spiv, is it worth it to hang about til Dec to offload shares, which are devaluing with each week and boardroom story, whilst the club spends its way through funds and assets?
———–
Why wait? Depends what the plan is an how spivvy the spivs are prepared to be.
The Rangers FC Ltd, just like Rangers FC PLC (in liquidation), is a loss making business. The shares of RIFC are more or less worthless. As soon as the lock-in ends and the spivs try to sellout the price will collapse even further AND they’d lose control of the nice little earner they’ve got going.
No, the better, more spivvy move, is to not blink in the face of Rangersness and keep control of the board of Rangers International PLC. That way they can keep control of the operating company and keep handing themselves all those handsome contracts for fancy consultancy, contracts for related “businesses”, promotion bonuses, and severance payments when they get “caught” and have, oh the horror, do walking away (until returning in a different guise).
The really, really spivvy move is to CREATE turmoil and deflate the share price. The money from the IPO has done its job of keeping the lights on ’til the next tranche of season book money arrived this summer so what do they care if a bunch of greedy (likely low-rent) “institutions” see that they’ve been had and bought into a mirage? Maybe you even engineer the dismissal of the man who was brought in to reassure those institutional investors that this was, in fact, a legitimate business and not just a con.
As was suggested over the last couple days, the spivs NEED TRFCL losing money, that’s how they’ll get the properties out of operating company and into the holding company: to clear an internal debt to the parent company. It’s the exact switcheroo Craig Whyte thought he’d be able to pull off before the truth of the Ticketus arrangement negated the value of the infamous floating charge. TRFCL in admin, properties taken in lieu, and the husk of the operating company sold on to the Rangersness at that point.
Then sell the properties back to the new owners of the club (at your asking price, with the threat of bulldozers implied), liquidate the now cash rich holding company, take your share, and exit stage left.
If you’ve got the nerve it could be a real winner…
Heck, maybe it’ll be the spivs BUYING the RIFC shares once the price collapses! That’d give them an even greater portion of the payout in the case of a MVL! If they can drive the share price low enough by creating enough turmoil to get the institutions to walk away it might be a clever little way of adding to their payout in the end.
So don’t worry Rangers supporters, your club will survive. You’ll just have to live with another admin, a 28 point penalty, possibly ending up renters (if the Rangersness can’t raise the money to buy Ibrox back and a different group of spivs swoop in), and all the money you invested doing little more than lining the pockets of men who never had your best interests at heart. That said, depending on how charitable the spivs are, the ones who held onto their shares may get a little bit back.
Not that anyone tried to warn you.
andy says:
August 6, 2013 at 9:37 pm
15 1 Rate This
http://sport.stv.tv/football/clubs/rangers/235255-charles-green-tells-stv-his-consortium-would-sell-rangers-stake/?utm_source=twitterfeed&utm_medium=twitter
30 mins of comedy gold from chuck
———–
Well done the interviewer (again), he even got the Dallas Cowboys email mentioned to ‘Charles I-never-tell-a-lie Green’ 🙂 Spin wrapped in sincerity, Charles is indeed devious.
What will this new day bring? Well, I’m about to make an early start with my daughter for Borås to see the Scottish champions from my native East End jump through yet another UEFA hoop – in order to mix it with already-qualified clubs who are not national champions. It seems sort of unfair to me. Nevertheless, after having had Hibs next door, it’s another chance to take in Scottish Euro football almost locally. Mon the Celts! And the Saintees and ‘Well the morra 😉
PS Fascinating read Canuck
TSFM – there was a small protest
http://willievass.photoshelter.com/gallery-image/060813-Rangers-v-Newcastle-Utd/G0000FKuAioPFQqc/I0000WOZjBT7xusA/C0000fKmWUmT9Awk
These ones of CG in directors box speaks volumes tho
http://willievass.photoshelter.com/gallery-image/060813-Rangers-v-Newcastle-Utd/G0000FKuAioPFQqc/I0000Bgn8Ug13GoQ/C0000fKmWUmT9Awk
Sitting with his bus minders
http://willievass.photoshelter.com/gallery-image/060813-Rangers-v-Newcastle-Utd/G0000FKuAioPFQqc/I0000fm.AZNwKwtE/C0000fKmWUmT9Awk
Morning all 😛 wonder what delights today will bring?? ‘Now that the ‘not so glamorous friendly’ is over, ally and Green are totally pissed off with each other and mr McColl has spoken???? Oh and lunny that’s now 88 hrs and no action ??? Has he ‘walked away’ too didn’t see him in the box right enough
These ones of CG in directors box speaks volumes tho
http://willievass.photoshelter.com/gallery-image/060813-Rangers-v-Newcastle-Utd/G0000FKuAioPFQqc/I0000Bgn8Ug13GoQ/C0000fKmWUmT9Awk
+++++++++++++++++++++++++
JT taking up two seats again. Don’t you just hate guys like that?
Morning all,
So the call to arms at the Newcastle game was a bit of a damp squib then. It puts me in mind of Spike Milligan’s Q Series where at the end of his sketches he and the cast would say “what are we gonna do now,what are we gonna do now”.
This will only mean anything to older followers of TSFM of course.
I’ll get ma script.
beatipacificiscotia @ 8:17
😆 What a bunch of happy coupons there 😛 especially JT a communications guy who isn’t talking?.. Pretty much sums them up 😛
Only one smile in all those pics, and he looks as if he’s wearing a Hearts tie.
He probably went there to feel better.
TSFM @ 2:34 am
Some think that the end of the saga is upon us. I’m becoming more convinced that we will all die of boredom before then.
—————————————————————————————————————————————————
Sentence of the day,and I could not agree more.I suspect even the supporters at Ibrox will now start to lose interest as they see the club that they follow dissipate into nothingness ,and rather like the Emperor’s new clothes ,the newly donned apparel is all too quickly becoming threadbare losing its colour and above all losing its ‘Rangersness’.
i just watched the entire STV interview and in order to get through it, I amused myself by counting the number of times CG referred to himself in the third person. Care to guess the final tally?
,
,
,
FOURTEEN times he referred to himself in the third person (13x “Charles Green” and 1x “he”). He’s quite the character study of someone suffering from Narcissistic Personality Disorder.
Tif Finn says:
August 6, 2013 at 10:01 pm
It’s a pity a wealthy Rangers man couldn’t put the money up front for the fans then they would own the whole business.
==================================================================
http://www.dailyrecord.co.uk/sport/football/football-news/battle-rangers-jim-mccoll-insists-2133676
I think the above piece on Jim McColl’s intentions is well worth a read. He looks as though he can see right through Green and knows that money is the only thing that motivates him. So he is showing Green that he has to make a choice between a rock and a hard place and that’s either accept something like 30-35p a share and go or take his chances with a general meeting and even if he wins the Institutional Investors will pull out which could see the Rangers shares plummet in value with everyone ending-up holding penny shares.
I am impressed by McColl being totally honest that he isn’t going to be a sugar daddy and tbh the Rangers fans might not know it yet but that’s the best thing that could happen to their club and it might actually force it to live within its means and cut-out the crap of galactic domination.
By not allowing emotion to rule his wallet McColl is also unlikely to contemplate leasing Ibrox and I think that’s why he has decided to play hard-ball right from the off and anyone with a single brain cell knows that Green has to faced toe to toe in a bruising bare-knuckle bout and be defeated or he will always be pulling strings in the background.
As to any sugar daddy buying the club and handing it to the Rangers support it just won’t work because the support is totally fractured and disunited and would find it hard to run a pie stall let alone a complex and financially fraught business like Rangers.
The fans could never raised the money needed in the coming years to stabilise the club as no investors or banks would put their money into such a risky enterprise.
I don’t know McColl but he looks to be the best bet IMO and Raymond Blin whom I have dealt with professionally has struck me as a totally honest guy that I would trust. Paul Murray I am in the balance about. But I look at Green, Stockbridge and the fact that the Easdales appear to be in their camp and there’s not difficulty in me deciding who the good guys are more likely to be for the future of Rangers as a well-run football club meeting the normal aspirations of ordinary fans.
Mather is a bit of a mystery to me and either a double-bluff is underway or the guy is doing his best for Rangers and isn’t a Trojan Horse for Green. But I still wonder if he has the experience to be CEO of such a shambles that Rangers currently is and it may be that a heavier-hitter might need to be brought in.
Of course if Green wins the fight then it becomes a moot point as all that will be required is an undertaker to coffin a stripped corpse as cheaply and quickly as possible.
Has anyone else heard the rumour doing the rounds in Paisley that a local bus company is up for sale?
Just listening to the BBC Sportsound podcast
Alastair Johnstone pretty clear that Sir Cardigan said he was astonished with the going on at boardroom level in relation to people doing share transfers and sorting out compensation.
That IPO money must be done about now?
Must be going ‘Blin’ got my Franks and Raymonds mixed-up – I actually know both 😳
ecobhoy 9.21 Of course if Green wins the fight then it becomes a moot point as all that will be required is an undertaker to coffin a stripped corpse as cheaply and quickly as possible.
========================
And a Daily Record photographer.
tcup 2012 says: August 6, 2013 at 11:26 pm
CG put £14 mil in our bank account by Friday and we will give them 20 million shares. Nice way to drive the share price back up 70p a share
I do think the only way forward for NewGers without additional “administration events”, given their current business model and fan expectations, is for someone to take the company private and pump shedloads of cash in, a la Murray (I’m not saying whose cash btw!) but why on God’s “green” earth would anyone even deranged enough to do that pay a 60% premium to buy new shares (reducing the influence/share) rather than hoovering up the dribs and drabs as they come and build up a stake? Hang around until the lock-ins expire, watch the shares flood the market and pick it up for a relative song…
I would more likely spend £14m on opening a range of kosher food shops in downtown Tehran than do that myself, but “there’s nowt to queer as folk” as Charles Green might say…
ecobhoy says:
August 7, 2013 at 9:21 am
Tif Finn says:
August 6, 2013 at 10:01 pm
It’s a pity a wealthy Rangers man couldn’t put the money up front for the fans then they would own the whole business.
==================================================================
http://www.dailyrecord.co.uk/sport/football/football-news/battle-rangers-jim-mccoll-insists-2133676
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
I see there are actually two articles.
http://www.dailyrecord.co.uk/sport/football/football-news/jim-mccoll-dont-see-charles-2133990
with the one above being a bit more ‘business’ oreintated.
It seems that McColl, like Alasdair Johnstone in his BBC interview, fear that proper corporate governance has taken a holiday at Rangers and this is a sure sign of Spivdom at work.
Now SDM may have used every trick in the book and gambled with the EBT’s and the like but at the end of the day, as I understand it, meetings were held and the accounts were published as required.
The end figure on the books may have been a mess but at least the books were there!
From Craig Whytes photoshop invoices onwards the whole thing has been a shambles.
Brian Kennedy implied this would happen when D&P went with Green
John Brown said the same from day one.
Malcolm Murray was clearly worried with regard to corporate governance
Smith has said the Johnstone that it chaos
Prior has been shocked into silence from his look under the bonnet
Now McColl is wading in at the 11th hour with the same concerns those above have voiced.
The season ticket money is in so the club has some money to work with.
Fans can continue to buy strips if they want to drip feed the club.
However is it not time that the fans sent a message by not turning up and leaving Ibrox empty.
It won’t damage the club financially but it would put down a marker that they want this sorted out.
I think McColl is correct the next six weeks are crucial being that some accounts have to be presented for AIM purposed around 19/20 September.
Somewhere in that interview when Peter Smith was trying to find out who was working for whom I thought I heard Green mention Zeus capital. That rang a bell of a connection to Octopus and then Ticketus. So I asked on Twitter and got this back.
Auldheid@Auldheid11h
@ETimsNet Do Zeus have any connection to Ticketus?
————-
Reckoner@Reckoner188811h
@Auldheid @ETimsNet Remember reading somewhere that Octopus are investors in Zeus Capital. Maybe a @Paulmcc12 blog or comment?
——————-
Tam Paine@TamPayne211h
@Reckoner1888 @Auldheid @Paulmcc12 You trawl through my tweets from like a year ago and I was talking about the Zeus-Octopus connection lol
———————-
Reckoner@Reckoner188811h
@TamPayne2 @Paulmcc12 Mate you tweet a lot, I’ll need an app for that lol.
I found this @Auldheid -…http://thedemiseofrangersinpictures.blogspot.co.uk/2012/11/octopus-on-zeus-accounts.html
—————————
Reckoner@Reckoner188811h
@Auldheid @ETimsNet Excuse the link on this but there’s this too :-
http://www.dothebouncy.com/main/threads/sevco-zeus-octopus-ticketus-connections.47110/ (The original forum was CQN)
Now am I just giving life to an old theory already debunked or are Ticketus trying to get the £26m back from the people they gave it to and were happy to walk away from the debt? I always thought they would be in there somewhere, human nature does not walk away from that kind of money, but in short could CG be working to recoup Ticketus £26M?
Auldheid says:
August 7, 2013 at 9:59 am
This lot? http://t.co/a93O3nFKzF
I put this up on the LSE (not that LSE) site ref Yorkshireman:
There’s 65m shares in circulation, but a lot are in lock-ins right? So Charles cant’ be talking about those shares and these must be a new issue? But’s that’s only 23.5% not “about 28%” of this club (shurely company?).
If he was talking about existing shares, (notwithstanding lock-ins,) that’s actually 30.7% of the club. So over 30% that then would trigger the requirement to make a cash offer to “all other shareholders at the highest price paid in the 12 months before the offer was announced”? Hahah, does he think anyone with a spare £14m to pump into NewGers is an idiot?
http://willievass.photoshelter.com/gallery-image/060813-Rangers-v-Newcastle-Utd/G0000FKuAioPFQqc/I0000IUnxPUKwMjI/C0000fKmWUmT9Awk
Picture 4 of 51 . . . Is that dougie Donnelly ? (The Clyde FC supporter)?
A shareholder rights plan, colloquially known as a “poison pill”, is a type of defensive tactic used by a corporation’s board of directors against a takeover. In the field of mergers and acquisitions, shareholder rights plans were devised in the early 1980s as a way for directors to prevent takeover bidders from negotiating a price for sale of shares directly with shareholders, and instead forcing the bidder to negotiate with the board. Shareholder rights plans are unlawful without shareholder approval in many jurisdictions such as the United Kingdom, frowned upon in others such as throughout the European Union.
The typical shareholder rights plan involves a scheme whereby shareholders will have the right to buy more shares at a discount if one shareholder buys a certain percentage of the company’s shares. The plan could be triggered, for instance, when any one shareholder buys 20% of the company’s shares, at which point every shareholder (except the one who possesses 20%) will have the right to buy a new issue of shares at a discount. The plan can be issued by the board as an “option” or a “warrant” attached to existing shares, and only be revoked at the discretion of the board of directors. A shareholder who can reach a 20% threshold will potentially be a takeover bidder. If every other shareholder will be able to buy more shares at a discount, such purchases will dilute the bidder’s interest, and the cost of the bid will rise substantially. Knowing that such a plan could be called on, the bidder could be disinclined to the takeover of the corporation without the board’s approval, and will first negotiate with the board so that the plan is revoked.
Shareholder rights plans, or poison pills, are controversial because they hinder an active market for corporate control. Further, giving directors the power to deter takeovers puts directors in a position to enrich themselves, as they may effectively ask to be compensated for the price of consenting to a takeover.
Auldheid says:
August 7, 2013 at 9:59 am
———————————————————–
But who funded Octopus?? 😉
Exiled Celt says:
August 7, 2013 at 6:42 am
10 0 Rate This
TSFM – there was a small protest
http://willievass.photoshelter.com/gallery-image/060813-Rangers-v-Newcastle-Utd/G0000FKuAioPFQqc/I0000WOZjBT7xusA/C0000fKmWUmT9Awk
________________________________________________________________
Ironically that’s more of a crowd than used to be in the stadium at full time during the glorious 9 in a row years. Seem to remember the stadium used to be empty by 4.35 in those days as they piled out (at least 3-0 in the lead) to avoid the traffic. Funny bunch, these peepil.
Look a squirrel
STV;
“Former Rangers chief executive Charles Green has told minority shareholder Jim McColl that his consortium will sell its 28% stake in the club if given £14m by Friday.”
———————————————————————————————————
There is that the dreaded Rule 9: anyone acquiring shares in a company subject to the Code which take him (with his associates) over 30% has to make a cash offer for all the remaining shares.
What are the consequences if the Code’s application is missed? First and most likely, it will disrupt a transaction if the Code is raised part way through a deal. It gives minority shareholders in the target company extra rights, so they are the most likely to complain. Failing to comply with the Code is a serious disciplinary offence for parties or advisers in the financial services sector, and can also lead to unregulated companies or individuals being publicly reprimanded or banned from activity in the financial markets. A complaint could be made some time after a transaction. The extra rights conferred on minority shareholders may come as a surprise to a controlling majority, and the extra costs of acquisition could have an effect on potential sale price for the company.
Were i a Rangers fan with millions to burn… Buy club pdq, cut wage bill to 60% of turnover (getting rid of manager and staff, also high-earning players, overpaid execs, communications experts etc), employ someone like Jimmy Calderwood as manager instead, watch quiet but relentless move up divisions, reassess situation/budget in summer 2015. Meanwhile, be professional, play nice, display some humility, earn some brownie points. Why is this so difficult?*
* rhetorical question
http://www.heraldscotland.com/news/home-news/charles-green-when-i-was-at-ibrox-i-was-slightly-to-the-right-of-genghis-khan.1375865416
A read of the above – which could be a lift from STV but I can’t be annoyed checking – shows the problem we have with the SMSM.
The journo involved is billed as ‘Senior News Reporter’ but has given Green a platform to spout his possibly slightly biased position in view of the money he could lose and hasn’t asked a single question. She is obviously looking for a transfer to Sport and with the qualifications she has displayed for swallowing raw unadulterated lamb I’m sure she’ll be there very soon.
The STV piece was reasonable but why oh why wasn’t Green asked about Rizvi. Green explained how poor old Walter wasn’t quite up to running a PLC and couldn’t face the battle to save Rangers because he was conflicted then he did the honourable things and walked.
The interviewer might just have been quick enough to ask him why since Walter was so unsuitable to be sitting on a PLC Board why he begged him three times to get him to join. Of course we all know the answer to that – Green needed him at the time just like he needed Ally and now both are surplus to requirements.
Still the Texas Rangers or Dallas Cowboys or whatever was a good one and Green obviously didn’t have any memory trace of the name either 😮
The
KDavidson says:
August 7, 2013 at 11:49 am
Were i a Rangers fan with millions to burn… Buy club pdq, cut wage bill to 60% of turnover (getting rid of manager and staff, also high-earning players, overpaid execs, communications experts etc), employ someone like Jimmy Calderwood as manager instead, watch quiet but relentless move up divisions, reassess situation/budget in summer 2015. Meanwhile, be professional, play nice, display some humility, earn some brownie points. Why is this so difficult?*
* rhetorical question
————————————————————–
Factual answer
It’s not in the least bit difficult – merely impossible
Continuing interesting times at Rangers. Check out their new broker, Daniel Stewart and in particular Martin Lampshire who has been involved in many deals for many years with Charles Green. Another coincidence!
ecobhoy says:
August 7, 2013 at 11:56 am
7 0 Rate This
KDavidson says:
August 7, 2013 at 11:49 am
Were i a Rangers fan with millions to burn… Buy club pdq, cut wage bill to 60% of turnover (getting rid of manager and staff, also high-earning players, overpaid execs, communications experts etc), employ someone like Jimmy Calderwood as manager instead, watch quiet but relentless move up divisions, reassess situation/budget in summer 2015. Meanwhile, be professional, play nice, display some humility, earn some brownie points. Why is this so difficult?*
* rhetorical question
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Factual answer
It’s not in the least bit difficult – merely impossible
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Those in the Directors’ box, wearing the ties and friends of those also know this.Hence the the very empty,haunted look on their faces.
They have no new clothes to wear.
Alright, the interview was a bit of a shambolic performance from CG, but he did pull off one masterstroke – By calling the bluff of Keith Jackson. I’m sure he was aware of the rabble-rousing ‘This one is a billionaire this time – honest!’ piece by Jingle-Jangle, and rather than allow it to have it’s desired effect and build up a head of steam amongst the TRFC fans, who would be led to believe that CG was blocking their club from having a billionaire at the helm, he simply called him out.
By issuing a challenge to McColl, and McColl responding with ‘Not interested in investing’, he killed it stone dead within half an hour.
Coupled with the fact that he’s the only one at Rangers prepared to point out the truth, that McCoist is hopeless, then I’m beginning to warm to him a tad. Only a tad, mind…..
rantinrobin says:
August 7, 2013 at 12:38 pm
Most of them looked pretty shabby but what about Yorkie and his snazzy (sp) pinstripe spiv suit and lack of club tie. Clearly “consultants” aren’t obliged to wear the club attire.
In the photo I’ve seen, Yorkie looked totally at ease, safe in the knowledge he’s still calling the shots whereas Mr McCoist was sitting a couple of rows back with a face that looked beetroot and ready to explode!
Shooperb says:
August 7, 2013 at 1:01 pm
I hate to say it, but I can’t help liking Charles Green. His constant reference to himself in the third person, his claim that he never lies (even when faced with his lies), he is clearly a lunatic and a rogue. Whatever happens, it will be interesting.
Dougie excepted, so many grim faces in – and around – the Ibrox Directors box at the Newcastle game.
Reminds me of a funeral.
Just no date yet.
rantinrobin says:
August 7, 2013 at 12:38 pm
”….Hence the the very empty,haunted look on their faces.”
—-
Four of us ( two of whom( our American guests) are art students) looked at the magnificent photo on the front page of the Herald (credit Rob Casey), and all agreed that the photograph could scarcely have better captured the naked venality and the mutual suspicion and hostility in the faces of the central group.
Quite scary,perhaps, to be on the same bus with them and their transport associates!
Jim McColl – I’m not doing this because I am a Billy Big Bollocks with a big cheque
http://www.heraldscotland.com/news/home-news/jim-mccoll-i-m-not-doing-this-because-i-am-a-billy-big-bollocks-with-a-big-cheque.1375863994
“I am a small shareholder, like many other fans. I am only exercising my right as a small shareholder. It is only because of my position in the business community that I am in the front line here.
“It is not because I am a Billy Big Bollocks with a big cheque. This club has suffered for a long time by being the plaything or the ego trip for people with a big cheque. We need to move away from that.
“It is not about who can write the biggest cheque. This is about getting a solid, robust board in place to move this forward as a publicly-listed company with a broad shareholder base and a professional board.
“It is an iconic club. The importance of it to Scottish football, to Glasgow, is immense. Much in the same way as, in my business, I tend to take over businesses where the brand has been under-invested in and has huge potential, like the Weir Pumps business we took over, this is another example of a fantastic brand (with) world potential.
“I guess the reason that I got involved [in the Rangers situation] is I kept saying, I kept replaying to people why I can’t get involved because I am absolutely committed to my existing funds and fund investors. If they saw me putting a large amount of money into Rangers, they would think, ‘What are you doing?’ They have given me a large amount of money – I have a responsibility to look after it.
“What really got to me was one of the fan group leaders said ‘Jim, for bad things to happen, all that needs to happen is for good people to sit by and do nothing. We are not asking you to put in money or buy a controlling interest in the club but we need someone to spearhead this and you have the experience to do that.”
“I thought I could probably do something.
“They [the camp led by Charles Green] come up with all these scare stories, for people not familiar with the intricacies of quoted companies. You need to be able to fight back on that, not be scared by what they say.
“I thought, okay, people are asking for help here. I feel it is an important thing to do, particularly for Glasgow and Scottish football and it is a worthy cause, so I was prepared to do it.
“The last thing I wanted to do was to get involved in it publicly. The institutions that are backing it didn’t want to get involved in it publicly. None of them individually would take the lead. There was a lot of people disgruntled.
“All that needs to happen for bad things to happen is for good people to do nothing, and that is absolutely true.
“What I saw happening here is, because no institution will step up, because they don’t want the publicity, they would probably end up dumping their shares and taking the loss and the advantage Rangers have by being in the stock market and having access to funds would disappear because no-one would support them in the future.
“I would hope he [Mike Ashley, the Sports Direct founder and Newcastle United owner who is also a Rangers shareholder] would [support his attempt to change the Rangers board] but I haven’t talked to him and the other side are trying to make out this is people all collaborating to take control. That is not what this is about.
“It is about people being really annoyed at what is going on, and just trying to get it back on an even keel as a well-governed plc company.
“I think they [Frank Blin, the former executive chairman of PricewaterhouseCoopers in Scotland and former director Paul Murray] will really get to the bottom of what is going on in Ibrox. They will provide stability. Neither of them need to do this.
“I was embarrassed into doing it [getting involved in the Rangers situation], if you like, or shamed into doing it, by being a supporter, by being a businessman in Scotland, who could do something for it. I thought I would choose to do it. As soon as this is over, and there is a good board in place, I will be out of the scene and I will be focused on running my business, and maybe I will get the odd invite to the directors’ box. That will be the perk.”
So given the reappearance of Green and the comments from McColl it seems that what is now taking balance is a battle for shareholders and trying to get them to sign their allegiance to one side for the other.
On one side you have the Spivs who along with their own shareholding will hold sway over their like minded pals.
On the other you will have the investors who are from the business world and like the cut of Messrs Malcolm Murray (who brought some of them in) and Jim McColl’s jib. i.e, things may be a mess but let’s ensure things go forward on a professional and corporate footing.
I have a feeling that as often happens on the ‘The Apprentice’ it may come down to ten quid here or there as to which team to wins the day.
Maybe Green has made a mistake having a go at McCoist. Could Ally’s small shareholding win the day for ‘Rangers men’?
Tif Finn says:
August 7, 2013 at 1:27 pm
Blimey – somebody associated with TRFC talking a little bit of sense! When did that last happen?!?
Manandboy-perhaps Dougie reverting to his life as a DJ provided the pre-match entertainment,hence the long faces.
John Clarke-indeed the scene in The Box ,would no doubt inspire any artist who wished to depict human misery in all its naked grandeur.
Shooperb says:
August 7, 2013 at 1:34 pm
=========================
He must have read my comments in reply to Graham Spiers’ tweet re Rangers needing a man of integrity, with money.
100BJD says:
August 7, 2013 at 12:24 pm
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Also, Close Asset Management have an 8% stake in Daniel Stewart. The parent company is Daniel Stewart Securtites PLC, who’s nominated and adviser and Joint Broker is Corporate Synergy PLC. Interesting.
Interesting times. Two threads for me, the rest is just a sideshow.
The shareholding issue is key, but it is not the end of the argument. I suspect this explains the haunted faces in the box last night. Control of the shareholding gives control of the board gives control of the decision as to what to do with Ibrox in particular but MP as well. This of course assumes that the board in TRFC will have any sway over Ibrox in any case (ask John Brown for details). Their decision may actually be a purchase one (or rental), not a sale as everyone in the MSM seems to think! The clever bit here is that CG can sit on whichever side of this fence he wants and still win.
Meanwhile the fans group around the cardigan-ness and threaten to stay away thus depriving the group of revenue. Whilst the short term impact of this will work in their favour it implies two things. That said revenue was leaving a profit after costs…oops…and that the present owners give a monkeys anyway if they turn up or not now that the ST dues are in.
There’s barrels, rocks and hard places, and then there’s the Rangers
Shooperb says:
August 7, 2013 at 1:34 pm
Tif Finn says:
August 7, 2013 at 1:27 pm
Blimey – somebody associated with TRFC talking a little bit of sense! When did that last happen?!?
=========================================================================
Have to agree, McColl is playing it well so far.
However I fear that if he does get his foot in the door and sees the books he will discover (or what he already fears?) he has actually come off the bench with ten minutes to go at 2-0 down in the second leg of a tie where his team were already 3-0 down from a defeat at home in the the first leg. 🙂
The Ibrox boardroom is in a state unprecedented factional warfare; so it did not come as any great surprise to see Chas Green immediately taking centre stage with his garrulous tv interview over the weekend.
IMO he will now deliver to us all, an even more exaggerated caricature of himself … just to ensure that everyone keeps ‘playing the man’ thus taking their eye off the ball and the goal (his). Why else give an interview to a reporter who had already made him look foolish – because he doesn’t give a flying f#ck about how he comes across in public! He’s now literally acting for a secretive consortium that wants to make millions from unprincipled investment strategies at the expense of an unwitting fan base.
His TV interview and constant references to himself in the 3rd person was comedy gold – planned, rehearsed and delivered. Baiting Jim McColl with the deliberate snide remark of being the world’s richest Scotsman, was a bit too studied, even for his mercenary mind and then giving him a deadline to hand over £14.000,000 quid was simply insulting to an intelligent and reserved businessman … he had to respond, however reluctantly. Take a bow Chas! no, not a plié, see what I mean?
From now until …whenever! it will again be days of CG’s self promotion, lies, fairy tales and inaccuracies, in fact the whole gamut of coached deflection. Banners to the Breeze will certainly enjoy his gaffes (planned or otherwise) but we all should never lose sight of the fact that he is just an exploitative spiv and should be taken to task at every opportunity for his deceit and not his buffoonery.
Smugas says:
August 7, 2013 at 2:04 pm
===================
Good post
Jim McColl in today’s herald:-
“What really got to me was one of the fan group leaders said
‘Jim, for bad things to happen, all that needs to happen is for good people to sit by and do nothing’.
Consider all the bad things that happened at RFC (IL) at the hands of SDM and the RFC Board, then CW & D&P.
And how all the good people at the SFA did nothing except to collude and make it easier to do the bad things.
And how most of the good people in the Press TV & Radio also did nothing except to collude and keep it all quiet.
And how all the good people among the Ibrox support did nothing as they cheered and danced as all the bad things helped win trophys and titles and prizemoney.
Good people.
And there are other good people
Like those who pay their taxes.
And all their bills.
And those who don’t cheat.
Those who are truthful
Those who act with integrity
Decent people who do what is right.
Who honour their contracts and agreements
Those who are law abiding and play by the rules
And much, much more besides.
The question for Jim McColl is which group of good people is he thinking of ?
Re Charles and his interviewer
Charles was giving the correct answers ,the interviewer was just asking the wrong questions
FIFA says:
August 7, 2013 at 2:35 pm
Questions that could have been asked.
– What are your yearly operating costs
– What is the Puma Deal worth
– What is the Blackthorn deal worth
– What is your predicted income this year
– What is your current bank balance
– Do all the above give us a figure for how much of the IPO has been spent
– If £22m is not still there what items in the prospectus are going to be dropped
– Can you provide evidence you ever scored at hatrick and while you are at it show us evidence of your 100yds record
and Oh Aye – Show us the Deeds!!!!!!!!!!
If only someone would ask the right questions! They don’t necessarily have to be in the right order. 😆
from JM piece in the record
He added: “Look, it’s pretty straightforward. All this talk about handing over £14m is designed to cause Rangers supporters further confusion, many of whom are understandably struggling to keep up with events inside the club.
“We have called for an EGM and if it goes to a general meeting they will be turfed out. It doesn’t have to go to a general meeting – they can agree to do it and save the club a lot of money and a lot of time.
_______________
how will they be turfed out at the EGM
imran when he was undercover on rangers media has already told people that they can call on at least 51% of the shares
When CW decided the old Rangers was such a basketcase that it was doomed to go under, he then proceeded to put zero new money into the Football Club. Any unexpected money came from non-payment of social taxes.
Why would RIFC now put any money into the Football Club at all after season ticket funds have been gratefully received?
I dont see this going any further than the next week or two, given they dont have the funds to see out the season. Had they a large number of decent value player contracts on their books with saleable player profiles, that could have been different, since it may have been worth selling one or two now, and one or two in January window.
To me this looks like an impending administration.
andy says:
August 7, 2013 at 3:03 pm
how will they be turfed out at the EGM
imran when he was undercover on rangers media has already told people that they can call on at least 51% of the shares
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Are you suggesting that he was telling the truth?
Auldheid
Now am I just giving life to an old theory already debunked or are Ticketus trying to get the £26m back from the people they gave it to and were happy to walk away from the debt? I always thought they would be in there somewhere, human nature does not walk away from that kind of money, but in short could CG be working to recoup Ticketus £26M?
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It does not seem to be a coincidence that Stockbridge and Ahmed were in this from the very beginning, in fact did Stockbridge not move to Glasgow just after the administration event. I am with Auldheid what company would just say bye bye to £26 million to a shady character with a dubious history that is Mr Whyte. Whatever went wrong between Mr Whyte and Ticketus we may never know but SDM IMO is in there somewhere as he had used Ticketus in the past and would have introduced Craig to them (before he was duped)..
As mentioned CG may be working for Ticketus, but I thought he was working for Mr White (you are sevco).
Maybe Charlie has many bosses like an octopus has many legs.
“In 2001, with private equity backers 3i, he bought a British investment fund distributor from South African insurer Fedsure.
At a stroke Keydata became an FSA-authorised investment administrator and started distributing bonds offering savers attractive ‘guaranteed’ returns. All bonds were sold through financial advisers or other intermediaries. Investors’ appetite, against a backdrop of plunging stock markets, seemed insatiable.”
Davie King says:
August 7, 2013 at 3:31 pm
You still working on Ford? Have a look at Inclination 1 LLP, and Inclination 2 LLP. Mr Ford was in the yacht charter business with a Scot William Gardiner.
A Scot William Gardiner was employed at Fieldglen Ltd.* Fieldglen is the company which Stewart Ford alleged owned the computer that was seized by PwC from Keydata’s office. Scot Gardiner – the name might be familiar.
Apologies if mentioned already. Check out the brilliant cartoon in today’s Herald.
I don’t get what jim McColl is on about ?!
Chuckles is obviously talking about Sevco (who changed their name to The rangers Football club)
Rangers football club are deid…gone…went bust…out of business
…so why is jim McColl concerned about Sevco now?!
Did jim McColl step in just before Rangers went out of business,
Before the assets needed to be sold at a give away price
…or even before that, when SDM was giving Rangers away for £1 ?
As chuckles stated, if jim McColl or any of the other blue-knight cavalry had have come up with the readies
…Rangers would have been saved.
Jim McColl and the blue knights did Not come to Rangers assistance
And Rangers died.
So do not be taken in by this Sevco custard pie fight.
It is a continual attempt to keep the name (with rangers in the title) in the news,
To keep the myth going that it is the Original Rangers, when it is Not !!!
I have a suspicion that the closing of the transfer window may be a trigger for the spivs.
If they can ship out some players and get some more cash in then pull as much cash and assets into RIFC as they can from TRFC it would then leave TRFC as a loss-making shell that can be sold, under threat of administration and then both financial and non-financial liquidation(!), to “The Rangers Men”.
Will the EGM be set for a date after the transfer window closes?
Scottish football needs a strong Arbroath.