Not in Front of the Children

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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.

 

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About Trisidium

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

2,305 thoughts on “Not in Front of the Children”


  1. When was the last time a set of audited accounts was presented by a company operating from Ibrox?

    (We can only) imagine how many millions have come and gone without any form of accountability.

    Quick! Administration!

    Then start again with a new extended date for submitting a first set of annual accounts. Evidence suggests that money is there to be harvested from a captive market at regular intervals.

    Is this “Goodwill” value?

    Really need to nail this sort of sh*t down if we’re going to stand up as a nation that values governance and promotes sport and fair play.


  2. StevieBC says:

    August 12, 2013 at 10:58 pm
    For any lurking journalist…

    A couple of simple questions to ask Stockbridge, [& separately for Regan and/or Doncaster ];

    “Are you able to personally reassure all Scottish football fans that TRFC will be able to to fulfill all its fixtures in the 2013/14 season ? And if not, why not ?”
    ————————
    Or in football terms have The Rangers provided any financial information at all never mind audited accounts to merit being granted a basic club licence to operate this season? If not why not as info is required by 30th April and when will SFA be publishing financial info received from other clubs?

    On a more strategic level why did the SFA sign up to UEFA FFP licensing standards in 2010 and then proceed to ignore the very principles contained therein (like payingtaxes due) that UEFA consider essential for the good governance of football?

    Scottish football is now operating outside UEFA law and not even the Sherriff (UEFA) appears to care.


  4. Steerpike said
    if you fail to file a return on time HMRC issue a specified charge, a specified charge is HMRC’s calculation of what you owe based on your previous PAYE payment and filing history. HMRC could and should have been billing Rangers for every one of the 9 months they did not file a return, it was fairly obvious hundreds of employees were still being paid wages, no real guesswork required.

    ——————————————————————————————————–
    Total bollox steerpike ………… monthly returns were only introduced from 06/04/13, as were specified charges. (i suspect you know this – otherwise you would be unaware of the terminology) PAYE in the Whyte era was based on trust. Therefore paying a few quid a month would keep HMRC quiet. Only at year end when P35 arrives would they realise Craigy was at it . Nice try tho SP


  5. StevieBC says:

    August 12, 2013 at 3:41 pm

    The SFA, for once, recently felt the need to issue a clarifying statement in response to TRFC’s claims that they had been ‘treated differently’ as a result of administration, when compared to Hearts & Dunfermline.

    With all the chaos and public sniping down Govan way, you would think that the SFA would again feel the need to issue a statement.

    Agreed, the SFA probably can’t say too much publicly at this time, but they could at least follow up Stockbridge’s ‘guarantee’ in the press that TRFC is not in financial distress and will not go bust.
    Does this fit with the information as submitted to the SFA when applying for their license this season ?
    [Auldheid, please correct me if I’m wrong here with the process ?]

    To reassure League 1 fans, and Scottish fans in general, [including TRFC fans], the SFA, [or even the SPFL], could issue a statement either fully supporting Stockbridge, or an alternatiive ‘bland’, non-committal statement which refers to the TRFC submissions for this season’s license, [and from which fans could perhaps draw their own conclusions].

    If the SFA could comment about administration treatment, then they could / should comment about the ability of a club to fulfill its fixtures for this whole season – especially when the directors / investors of said club are publicly arguing about finances.

    [I am discounting the HMFC & Dunfermline scenarios as these have been well documented and everyone must be aware of the uncertainty / risk. TRFC however – via Stockbridge – is trying to claim that all is OK at Ibrox : nothing for the fans to worry about re: the finances.]
    ==================
    Just spotted this.

    Club licensing requires all clubs to supply annually audited accounts to the SFA. 31st March for top tier, 30th April lower tiers.

    An exceptional dispensation clause was written in for this seasons rules that might be used to cover non receipt but a case has to be made by the club. There was also another change in a notice to clubs in the rules that what they told the SFA in terms of wages and turnover etc would be published on the SFA web site.

    Obviously The Rangers could not supply audited accounts but the SFA (as you suggest) surely have a responsibility to all clubs and their supporters, but particularly Rangers supporters, to publish what they were told and if told nothing to withold a licence and suspend membership until they are told.

    That kind of information would do more to assure Rangers supporters that their SB money was safe than any “personality” assurances and in not being much more diligent than they have been, the SFA are as guilty of misleading supporters as anyone at The Rangers has been.

    If The Rangers enter administration the SFA cannot escape investigation into the role they have played in misleading Scottish football supporters in general and Rangers supporters in particular, ignoring UEFA FFP principles and so aiding and abetting tax evasion by one club.


  6. slimshady61 says:
    August 12, 2013 at 9:09 pm

    “Maybe so but as evidence goes, it’s poor even by CtH’s standards – it’s frankly meaningless.”
    —————————
    I note your scepticism which is entirely healthy. With that provisio acknowledged, a wee dissection might bring a little clarity.

    Charlotte’s previous tweet had hashtag #RoofUpdateLater.

    This next latest tweet has hashtag #WaitingOnGccSafety.

    The preamble states “Not Craig Whyte related”. So has a roofing contractor, knowing that Charlotte’s got 13k twitter followers, used her to exert additional leverage to obtain payment. We have seen previously some information concerning roof works:

    http://tl.gd/n_1rlmcgq

    The total values here are only around £300k. However if these works were not executed at the time water ingress may have damaged the supporting structure. Pure conjecture but based on the premise that Charlotte is being straight up here. In view of the impending commonwealth games contract might this work have been undertaken recently?

    The quotation was from ‘fesfm’, Forth Electrical Services Facilities Management. I googled ‘Ibrox roof’ to see if they had showcased such works but nothing turned up. Does anyone know of a roof contractor that has been engaged at Ibrox recently?

    The hashtag implies that the safety certificate may not have been issued. Have the contractors left the works incomplete or is the inspection merely pending?


  7. PR companies are like stock analysts, they say what you want to hear because your paying them. The whole business is akin to snake oil. It doesn’t work and is probably harmful in the long run.
    Most sensible companies and local authorities now manage press relations in house. A major part of TRFC’s problem is that the company that owns the football club is paying people to brief against itself.
    Whoever advises Stockbridge should be getting their jotters. To tell supporters one thing on Thursday and brief the Sun the opposite on Monday is professional suicide. His comment about not going into administration ‘whilst I’m in charge’ may mean that he doesn’t anticipate being in the FD’s chair much longer.


  10. Daily Record reveals that IMRAN AHMED is suing Spivco FC for $3.4 million!!!!


  12. Re Forth Elec Contractors ,they lost a lot in the first admin ,some of their high heid yins are big Rangers men but they have a bussiness to protect and if they have carried out work without any bonds hell mend them ,the only item that most other companies do in a situation where a certificate is a must at the end of whatever works are carried out is the certifaicate is issued on payment,could be what is happening here.Maybe a second source has checked the roof without knowing the issue with the first company and applied to GDC for the safety cert.Skullduggery at its best and the guys from FES in on it.only saying like


  13. slimshady61 says:
    August 12, 2013 at 9:09 pm

    19

    6

    Rate This

    paulsatim says:
    August 12, 2013 at 8:59 pm
    ————————————-
    Maybe so but as evidence goes, it’s poor even by CtH’s standards – it’s frankly meaningless.

    This could be two lines from anything – “deadline” is spelled wrongly, there is no “commercial high court” in Edinburgh, who on earth could be suing Sevco for £3.4M?

    Still stirs the pot up a bit but I would put my house on not seeing this in any Scottish newspaper anytime soon.
    ________________________________________________________

    Chris Graham reckons its Imhran who’s suing for 3m.
    …So we can probably dismiss that out of hand… unless there’s been an unprecedented mix up in TRFC PR office & someone has accidentally fed him some correct information in error.


  14. Auldheid says:
    August 13, 2013 at 12:32 am

    Castofthosands.

    Is it this £3.4m?

    https://twitter.com/Daily_Record/status/367058496019120128/photo/1
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    I wonder how this will affect the share price? I also wonder who sold 2m shares today.

    The SFA need to demand cashflow forecasts for the next 9 months from TRFC to ensure they are able to complete their fixtures and that is before Imran’s cheeky demand for £3.4M. These guys are the best.


  15. Auldheid says:
    August 13, 2013 at 12:32 am

    Castofthosands.

    Is it this £3.4m?

    https://twitter.com/Daily_Record/status/367058496019120128/photo/1
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    2 questions: (only one of ’em serious!)

    1.So what component of the £3.4m is damages for being subjected to racist language at the hands of his CEO while employed at RIFC, d’ye reckon?

    2. Do we think he will maybe try to get a Martin Bain to cripple the clubs cash flow in the (even) short(er) term and precipitate an early admin?


  16. Resin_lab_dog says:
    August 13, 2013 at 1:18 am

    Auldheid says:
    August 13, 2013 at 12:32 am

    Castofthosands.

    Is it this £3.4m?

    https://twitter.com/Daily_Record/status/367058496019120128/photo/1
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    2 questions: (only one of ‘em serious!)

    1.So what component of the £3.4m is damages for being subjected to racist language at the hands of his CEO while employed at RIFC, d’ye reckon?

    2. Do we think he will maybe try to get a Martin Bain to cripple the clubs cash flow in the (even) short(er) term and precipitate an early admin?

    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    Something has spooked the Spivs and they are collapsing the House of Cards which has been built on sand next to a major fault line. I give it a month at best.


  17. Danish Pastry says:
    August 12, 2013 at 10:24 am

    causaludendi says:
    August 12, 2013 at 9:09 am
    19 0 Rate This

    Danish,

    It’s worth remembering that TRFC ltd & RIFC plc, being little more than a year old, have never called in receivers or administrators nor had an insolvency event.

    Calling any liquidity issue that may or may not be unfolding before our eyes ‘Admin II’ panders to, and generally perpetuates the propaganda myth that RFC(IL) were indeed ‘rescued from administration’ last year.

    Scottish football needs… to remember the facts!
    ———–

    Yes, I’m with you on that. Just using the common parlance. This very point actually came up, of all places, on SSB the other night (from a caller, if memory serves me correct). The question was bounced around as to whether, in the eventuality of it occurring, it would be the first or second admin. The resulting docking of points was what they were trying to work out.
    =================================================================================

    I offered the term ‘Admin 1.5’ in a previous post and I’m sticking to it! 😉

    Scottish football needs… to retain it’s sense of humour.


  19. From the BDO survey reported in the Scotsman

    “After a year in which both Hearts and Dunfermline Athletic fell into administration it is welcome news that a large proportion of SPL clubs believe that they will be profitable in the coming year. It is also interesting to note that, when compared with other leagues in the UK, revenues of SPL clubs have not been adversely affected by the loss of Rangers. Last year many observers, including this survey, felt that SPL clubs might experience a decline in income due to the loss of Rangers. However, this hasn’t happened over the last season.”

    Armageddon ? Of course not, the reality is that the top level of Scottish football is a more viable , vibrant place without the toxic policies employed by Rangers.

    Scottish Football without the lunatic influence of David Murray will continue to return to good health.

    and yet, he still hasn’t received the life ban he so richly deserves for destroying Rangers and poisoning the rest of Scottish football.

    And even more amazingly he still holds his Knighthood, for services to Industry. i wonder who recommended him for that ?

    Well, actually I don’t wonder. It just goes to demonstrate the shameless lengths the establishment in Scotland go to .


  21. Interesting tweet:
    TheTributeAct ‏@TheTributeAct 5h
    And then there was debt. #Ahmad

    The preparations for control in a Sevco insolvency begin.
    —————–

    Could this be a calculated move to establish control over the company’s assets?


  22. lurchingfrompillartopost says:
    August 12, 2013 at 11:29 pm

    When was the last time a set of audited accounts was presented by a company operating from Ibrox?
    =================================================
    2010 was the last time a set of audited accounts were issued. If I recall correctly it was the time there was a huge spat between two tabloid style nonentities as to whether or not Alastair Johnston really did nod his head when asked if Rangers could go bust. One nonentity now assists with the feeding of nonsensical drivel direct from the bowels of Ibrox, while the other sits on BBC Radio Scotland and repeats it.

    In terms of audited accounts we are now in 2013 and not another set has been issued. I guess in Scotland it wouldn’t matter if a club from Ibrox ever issues audited accounts again. Quite why the other clubs who have to issues accounts sit back and say nothing about this is beyond me, it truly is.


  23. Quick glance on twitter and I can see the night owls have been tweeting about impending doom (not saying that owls actually tweet, of course, it’s more of a ‘twoo–ish’ sound). And Phil asks a pertinent question:

    @Pmacgiollabhain
    A simple question:
    If #Sevco have to stump up that £3.4 M can they see out the season?
    1:56am – 13 Aug 13


  25. Morning all.
    2 things.
    Firstly,
    Who sold the shares?.
    If the spivs are confident of winning at an EGM then why sell,unless they can afford to drop 2m votes and still win.£830k in the bank is a nice wee retainer.
    Has 1 of McColls backers got cold feet and decided to run?.
    I’d be hard pushed to listen to a guy with 4 shares telling me what to do with my 2m.If this is the case then either another McColl backer has bought them,meaning no shift in the balance of power,or the spivs bought,cementing their position.
    Secondly,
    Ahmrans claim for £3.4m.
    I’m sure he has the backing of Green,they’re all in it together.The important part of the announcement was,IMO,that the suit is AIM Announceable.This is a direct threat as the spivs know that an announcement like that could see the price collapse and the shares maybe suspended.
    It’s all part of the spivs exercising their control until they get what they want.

    What will we see today,I wonder. 🙄 🙄


  26. TW says:
    August 13, 2013 at 7:24 am
    Danish – whether Rangers can see out a season seems to be a permanent question these days.
    ———————————————————————————————–
    The question should have been Can Rangers start the season?.


  27. upthehoops on August 13, 2013 at 7:08 am

    Current incarnation not expecting to submit accounts til May 2014. If admin is done by christmas, a new company (after agreeing a new deal with the landlord) could be funneling goodwill money from captive market and have new accounting date of, say, June 2015.

    Nevermind the audited accounts required by the scottish piffle (spfl) and/or european football authority, that’s an awfy long time for a seemingly ringfenced “important scottish institution” and it’s subsequent tribute acts to be allowed an accounting no-go zone. Someone should make a law against that or somerhing.


  29. torrejohnbhoy(@johnbhoy1958) on August 13, 2013 at 7:29 am

    It’s almost as if someone with scary precog abilities knew that someone would be bringing a lawsuit that AIM would report today, duly affecting market share price. Their uncanny ability was the key as they were able to trade 2million/800k of shares yesterday before it kicked off.


  30. This may be completely wide of the mark, but I seem to remember from an article on Paul McConville’s blog (July 22nd) that stated that Imran Ahmad owned 2,200,000 shares in RIFC, an amount suspiciously close to those traded yesterday.

    Coincidence?


  32. 3.4 mil

    http://www.heraldscotland.com/news/home-news/whytes-broking-firm-told-to-cease-operation.17451186

    http://www.mazars.co.uk/Home/News/Press-releases/Pritchard-Stockbrokers-Ltd-Pay-Out-First-Interim-Distribution-To-Clients

    “Aside from the application of the new SAR procedure, Pritchard attracted broader public and media attention because of the involvement in the Company of Craig Whyte, the former owner of Rangers Football Club, and other companies he was also associated with. Craig Whyte was Pritchard’s Company Secretary until 14 February 2012 and Rangers Football Club is a client creditor.”

    http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17026172


  34. The DR are claiming The rangers are the source of the info and not CF…re Imran.
    Let slip the dogs of war!!!!


  35. lurchingfrompillartopost says:
    August 13, 2013 at 7:53 am

    torrejohnbhoy(@johnbhoy1958) on August 13, 2013 at 7:29 am

    It’s almost as if someone with scary precog abilities knew that someone would be bringing a lawsuit that AIM would report today, duly affecting market share price. Their uncanny ability was the key as they were able to trade 2million/800k of shares yesterday before it kicked off.
    —————————————————————————————————–.
    I’ll speculate again(could be wrong I know),
    If Ahmran has sold then he’s sold to Green & Co.
    They’re in it together.They’ve moved £2m shares for whatever the market trader wanted(1/2p per share?),put £830k in their kitty and still own the shares.
    Don’t know what they call these deals now but in the days of Jobbers(traders nowadays)you could go to a jobber and agree a figure if you had a sale and a purchase of similar amounts.the Jobber would take a small premium for putting through both deals.In this case maybe the sale goes through at 41p and the purchase at,say 41.1/2p.The shares change hands and the trader makes £10k for a paper transaction.1/2p may be a bit much,though.
    Thing is,by dealing like this,the spivs,for a few grand,put £830k in the bank and still own the shares.
    Good,Eh.


  36. Auldheid says:
    August 13, 2013 at 12:24 am
    ————————————————–
    Is that this Forth Electrical Services?
    ————————————————–
    Yes the relationship between FES and RFC has never been healthy in my opinion and it’s been kept well below the radar.

    They have been retained to work at Ibrox for years – the owners are serial supporters and I would be surprised if CT has not come into contact with RFC and its tribute act in his day job capacity which would appear to be a conflict of interest, no? It would be interesting to see what came first, CT’s refereeing career or his FES career……I am sure someone out there can help

    Castofthousands, I am clearly out of touch. I suggested last night I would sell my house if the £3.4M court case ever saw the light of day in a Scottish newspaper and less than 12 hours later, as I walked past the newsagent this morning, the owner was affixing a DR billboard proclaiming “Ahmad to sue Rangers for £3.4M”

    I’ll get my estate agent


  37. slimshady61 says:
    August 13, 2013 at 8:32 am
    10 0 Rate This

    Auldheid says:
    August 13, 2013 at 12:24 am
    ————————————————–
    Is that this Forth Electrical Services?
    ————————————————–
    Yes the relationship between FES and RFC has never been healthy in my opinion and it’s been kept well below the radar.

    They have been retained to work at Ibrox for years – the owners are serial supporters and I would be surprised if CT has not come into contact with RFC and its tribute act in his day job capacity which would appear to be a conflict of interest, no? It would be interesting to see what came first, CT’s refereeing career or his FES career……I am sure someone out there can help

    Castofthousands, I am clearly out of touch. I suggested last night I would sell my house if the £3.4M court case ever saw the light of day in a Scottish newspaper and less than 12 hours later, as I walked past the newsagent this morning, the owner was affixing a DR billboard proclaiming “Ahmad to sue Rangers for £3.4M”

    I’ll get my estate agent

    ____________________________________________________________________________

    54 (reasons yer missus has dumped yer case on the lawn) to 0

    (sorry slim, had to be done 😀 )


  38. slimshady61 says:
    August 13, 2013 at 8:32 am
    8 0 Rate This

    Auldheid says:
    August 13, 2013 at 12:24 am
    ————————————————–
    Is that this Forth Electrical Services?
    ————————————————–
    Yes the relationship between FES and RFC has never been healthy in my opinion and it’s been kept well below the radar.

    They have been retained to work at Ibrox for years – the owners are serial supporters and I would be surprised if CT has not come into contact with RFC and its tribute act in his day job capacity which would appear to be a conflict of interest, no? It would be interesting to see what came first, CT’s refereeing career or his FES career……I am sure someone out there can help

    —————————-
    Craig thomsons new job.

    http://www.telegraph.co.uk/sport/football/competitions/scottish-premier/4031794/Scottish-referee-Craig-Thomson-gives-up-the-day-job.html


  39. “IamRangers [IA] … said Green would return to the club as chairman once he’d “destroyed” Craig Whyte.

    “He also expressed a desire to see Whyte “get hot tar all over his b******s after he’s been destroyed in court”.” (The Record)
    —————

    Apparently penned by Charles ‘little exotic friend’. Charming.

    PS Ooch!


  40. upthehoops says:
    August 13, 2013 at 7:08 am

    If I recall correctly it was the time there was a huge spat between two tabloid style nonentities as to whether or not Alastair Johnston really did nod his head when asked if Rangers could go bust. One nonentity now assists with the feeding of nonsensical drivel direct from the bowels of Ibrox, while the other sits on BBC Radio Scotland and repeats it.

    =============================================

    Oooh, schoolboy error. If listening to Radio 4 has taught me anything, then it’s that the summation should have read:

    “One nonentity now assists with the feeding of nonsensical drivel direct from the bowels of Ibrox, while the other is James Traynor….”


  41. Regardless of the merits or otherwise of Ahmad’s claim, shouldn’t RIFC have notified AIM (as indeed the CF email states)?


  42. This fiasco has had more suits than Slaters.Never seem to happen though.A question for the legals,How would admin affect the CB case due in October ?.


  43. I actually think there might be a better candidate to be selling their shares than Imran Ahmad.

    His old Boss Richard Hughes a director at Zeus Capital – where Brian Stockbridge also worked before joining Rangers – also holds 2.2 million Rangers shares.

    Zeus were the people involved from the word go as was Ahmad who brought Green on board as well as Stockbridge.

    There is no way IMO that Zeus would want any connection with a collapsing Rangers as it might draw too much attention to the firm and the early involvement as advisors and investors and there have long been rumours that Zeus fronted one of the mystery investment vehicles such as Blue Pitch Holdings but this has never been confirmed.

    Of course with all sinking ships the rats are the first to jump but in the deep murky sea off Ibrox perhaps the spivs take precedence. I think the con is on auto-pilot with not a lot of time left to remove the goodies before the doomed ship ‘The Dignity’ finds an inglorious end on the waiting rocks.

    http://scotslawthoughts.wordpress.com/2012/10/22/the-rangers-shareholder-list/

    I suppose it’s possible one of the Institutional Investors has 2.2 million shares and I’m trying to think where my list of those are but I’ve repeated my list above of the original consortium shareholders. Note that John Goold is also a Zeus employee.


  44. http://citywire.co.uk/new-model-adviser/wh-ireland-acquires-8000-clients-from-troubled-broker-pritchard/a570713

    “Has nobody realised that Pritchards are the custodians for Merchant Capital the structured product provider who also took over the good assets of Keydata?

    The FSA approved this transfer of assets from Keydata to Merchant Capital so does this mean that all this money and the other structured product money Pritchards were custodians for on behalf of Merchant capital has been lost?

    Some answers need to be provided by the FSA now as I believe clients who were receiving income under these structured plans has already been frozen. Is this another FSCS mess to sort out? If so then clearly a certain organisation should take all the blame!”

    What a wicked web we weave
    When first we practice to deceive
    Spinnin’ out a house of make-believe


  46. Slightly off-topic but I’ll carry on regardless…
    Tomorrow evening England v Scotland in a meaningless friendly.
    5 or 10 years ago I would have been interested in this match, might even have watched it.
    Today? If the SFA sent a limousine to pick me up and plied me with drink and friendly ladies all the way from Geneva to London I’d probably say Nah, gotta cut the grass.
    My only interest in this pointless exercise is to see how many blazers turn up for the match and I put money on there being more blazers in attendance than footballers.
    I wouldn’t even be surprised to see SuperAlly, Walter and Charles Green there as guests of the SFA.

    Now back to the Omnishambles…


  48. Ecobhoy –

    Person(s) interested:
    Upon admission, Rangers International Football Club plc will acquire The Rangers Football Club Limited on the basis of a one for one share exchange and after admission Rangers International Football Club plc will be the holding company for the group. Before Admission The Rangers Football Club Limited – the current operating business Shareholder No of Ordinary Shares Percentage Charles Green 5,000,200 14.96% Blue Pitch Holding 4,000,000 11.97% Mike Ashley 3,000,000 8.98% Margarita Funds Holding Trust 2,600,000 7.78% Richard Hughes 2,200,000 6.58% Imran Ahmad 2,200,000 6.58% Craig Mather 1,800,000 5.39% Norne Anstalt 1,200,000 3.59% Rangers International Football Club plc – the holding company of the group following admission FFW Secretaries Limited – 100% After Admission Rangers International Football Club plc which will own The Rangers Football Club Limited Shareholder No of Ordinary Shares Percentage Charles Green 5,071,629 7.79% Hargreave Hale Limited 4,949,000 7.60% Artemis Investment Management LLP 4,286,000 6.58% Blue Pitch Holding 4,000,000 6.14% Mike Ashley 3,000,000 4.61% Margarita Funds Holding Trust 2,600,000 3.99% Cazenove Capital Management Limited 2,450,000 3.76% Richard Hughes 2,200,000 3.38% Imran Ahmad 2,200,000 3.38% Legal & General Investment Management Limited

    LSE link posted earlier:
    http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/new-and-recent-issues/new-recent-issue-details.html?issueId=8816


  49. cowanpete says: August 13, 2013 at 9:41 am
    “5 or 10 years ago I would have been interested in this match, might even have watched it.”

    I am literally going shopping for a new bathroom suite when the game is on tomorrow – it has to be done to get it sorted for when we need it, but when the missus said that’s what we were doing I was like “fair enough”. 🙄


  51. Listening (for a laugh really) 😀 at the r Scotland and the Clyde podcasts, it was apparent that amongst all the invited guests on both shows that, given the fierce competition so this is quite an achievement, Keith Jackson is by far the most out of touch with reality.

    I laughed out loud when he claimed that until Ally said he was with ChuckieG Rangers (sevco to you and I) had sold less than 100 season books

    I also note from voice and in print that Jackson finds it impossible to say the word investor without putting the word institutional in front of it (I assume though that this only applies when talking about the Govan club)

    He is utterly convinced that these institutional investors are the ones who are the power and once they get their EGM everything will be ok given time as long as they get their men in, good men like Murray and Blin

    Sadly, a good unhealthy % of the Govan support see Jackson as their supplier of true information


  52. “In a progress report published last week, Mazars said: “The deferred consideration of £250,000 was due to be paid on 28 August 2012. On 22 August, a letter from WHI’s solicitors was received disputing the payment of the deferred consideration and, consequently, these funds were not received on the due date.”

    The progress report also states Mazars is chasing WHI for £100,000 VAT on the £500,000 total payment. The matter has been passed to Mazars’ solicitors.

    http://www.fundweb.co.uk/fund-news/news/wh-ireland-in-250k-dispute-with-pritchard-administrators/1059419.article


  53. spartacusthethird says:
    August 13, 2013 at 8:49 am
    ————————————–
    No offence taken – we can’t all be ‘spartacusthethird’

    Pilgrim1888, thanks for the CT career info. Maclay Murray & Spens to FES? A logical career progression for any aspiring lawyer…….


  54. I had a guy in to do some plastering work for me last week.He seemed a pleasant enough individual and came recommended.During a tea break,the conversation,as usual,came round to football.Turned out he was a sevco man,season ticket holder…….We have often discussed on this site about sevco supporters being in denial,seeing things as a Timmy/media conspiracy,or just plain sleepwalking to oblivion.Well,this gentleman embodied all these traits.I listened for ten minutes while he vacillated between defending Green,McCoist to deciding they weren’t worth the candle,really believing finances were ok then fretting that the ‘Big Hoose’ would close due to the spins cleaning out. I really felt sorry for this guy.Well not quite.But seriously,it just goes to show how the ordinary sevco fan knows absolutely Jack about what is happening to their club.The problem they have of course,is that the few people they trust knew/know what’s going on but stay silent.
    By the way,he did a good job in my ‘Wee Hoose’.


  55. ecobhoy says:
    August 13, 2013 at 9:34 am
    3 0 Rate This

    I actually think there might be a better candidate to be selling their shares than Imran Ahmad.

    His old Boss Richard Hughes a director at Zeus Capital – where Brian Stockbridge also worked before joining Rangers – also holds 2.2 million Rangers shares.
    ———–

    Wasn’t it 2,020,000 yesterday? That would be minus 180,000, a figure I am sure was traded recently.


  56. … the situation is easy to summarise (untrustworthy spivs run The Rangers and the money is running out) but once you get into detail, it’s a hard, multifaceted tale to follow


  57. This share sale may simply be just the beginning, Stockbridge made it clear Rangers could have slash and burned to make money but decided it was not in the best interests of Rangers in the long term. This is a clear signal to all the short term investors to sell to long term investors, I suspect more such sales will happen and this will avoid a boardroom battle, it is unlikely the seller of these shares paid 70p which narrows it down a bit, the short term spivs have lost in my opinion and the battle is effectively over. I believe there are special circumstances where locked in investors can sell early, and I suggest this is the route CG and his 28% share allies will go. I think CG has created too many enemies on all fronts to win any boardroom battle and he will take his millions and go to France.

    “Armageddon ? Of course not, the reality is that the top level of Scottish football is a more viable , vibrant place without the toxic policies employed by Rangers.”

    The article in the Scotsman forgot one important factor, the SPL clubs that are viable rely on TV revenue for their viability, and this TV money is only still there because Rangers are part of it, in effect these clubs are not more viable without Rangers. The Irish league is viable, is that where we want to be ?


  58. rabtdog says:
    August 13, 2013 at 10:39 am
    ——————————————————
    Just follow follow 😉 the money & the email address………..


  59. It has been hinted on here the cultural power of Rangers influenced HMRC and prevented them carrying out their tax collecting duties under the CW regime, this power was obviously not great enough to prevent HMRC from pursuing the EBT case ad infinitum nor was it sufficient to persuade them to accept a CVA.


  60. slimshady61 says:
    August 13, 2013 at 8:32 am

    “I suggested last night I would sell my house if the £3.4M court case ever saw the light of day in a Scottish newspaper and less than 12 hours later, as I walked past the newsagent this morning,”
    ————————
    slim, I’d like to take the opportunity to shelter behind your embarrassment. I also jumped to a conclusion that currently appears to be misplaced. 😳

    The timing does suggest Charlotte’s source was close to those involved.

    The rapid publication of this information is as you correctly perceive, out of character for the SMSM. This may be a welcome enlightenment bringing forth clarity or just as likely another twist in the tale.


  61. Danish Pastry says:
    August 13, 2013 at 10:38 am
    2 0 i
    Rate This

    ecobhoy says:
    August 13, 2013 at 9:34 am

    I actually think there might be a better candidate to be selling their shares than Imran Ahmad.

    His old Boss Richard Hughes a director at Zeus Capital – where Brian Stockbridge also worked before joining Rangers – also holds 2.2 million Rangers shares.
    ———–

    Wasn’t it 2,020,000 yesterday? That would be minus 180,000, a figure I am sure was traded recently.
    =================================================================
    180,000 share trade 14th June


  62. ecobhoy says:

    August 13, 2013 at 9:34 am

    7

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    Rate This

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    I actually think there might be a better candidate to be selling their shares than Imran Ahmad.

    His old Boss Richard Hughes a director at Zeus Capital – where Brian Stockbridge also worked before joining Rangers – also holds 2.2 million Rangers shares.

    Econ definitely and categorically Richard has not sold his shares…he and Ahmed not exactly best mates over all this!


  63. 100BJD says:
    August 13, 2013 at 11:09 am
    ————————————————
    “Econ definitely and categorically Richard has not sold his shares…he and Ahmed not exactly best mates over all this!”
    :mrgreen: 😆


  64. It would appear that Keith Jackson is the primary conduit for Traynor’s Crisis PR.


  66. Rangers finance chief Brian Stockbridge … ‘This club won’t go into administration on my watch’ says Ibrox money man…

    “I cannot imagine any condition which would cause a ship to founder. I cannot conceive of any vital disaster happening to this vessel. Modern ship building has gone beyond that.”
    -Captain Smith, Commander of Titanic

    Aren’t verbal assurances just so comforting?

    Scottish football needs the SFA to get their finger out re reporting the true financial status of Scottish clubs.


  68. 100BJD says:
    August 13, 2013 at 11:09 am
    ecobhoy says:
    August 13, 2013 at 9:34 am

    I actually think there might be a better candidate to be selling their shares than Imran Ahmad. His old Boss Richard Hughes a director at Zeus Capital – where Brian Stockbridge also worked before joining Rangers – also holds 2.2 million Rangers shares.
    =======================================================
    Econ definitely and categorically Richard has not sold his shares…he and Ahmed not exactly best mates over all this!
    ========================================================
    Hi 100BJD – I know you are in a position to call this one correctly. But I am surprised that he’s still holding in there although that takes us back to Blue Pitch Holdings or another investment vehicle holding Rangers shares organised or run by Zeus – any thoughts on that?


  69. redlichtie says:
    August 13, 2013 at 11:32 am

    Rangers finance chief Brian Stockbridge … ‘This club won’t go into administration on my watch’ says Ibrox money man . . .

    “I cannot imagine any condition which would cause a ship to founder. I cannot conceive of any vital disaster happening to this vessel. Modern ship building has gone beyond that.” – Captain Smith, Commander of Titanic
    ============================================================
    Love that one – for some reason it conjures up in my rather strange mind the vision of Brian Stockbridge with his finger in the dyke – let’s hope someone will capture the moment on video when the last line of defence finally crumbles.


  71. Just an aside. With all the gubbins from the likes of Charles Green about ‘The Rangers, a global brand, worth loads of money’ that I’ve read since last year, I just wanted to put that into context.
    Football clubs have a disproportionate profile to their actual monetary value. If you take market capitalisation as a rough guide (total shares multiplied by value per share) you can compare the biggest multinationals with football clubs – it’s a rough benchmark but you get a sense of perspective, a sense of football’s place in the great scheme of things.
    Taking a snapshot of prices back in March this year, Wikipedia lists the FTSE 100 companies by market capitalisation and staff numbers beginning with Royal Dutch Shell (£135bn, 90,000 staff) and HSBC (£129bn, 267,000 staff) down to small big companies like Wood Group (£800m, 41,000 staff), Kazakhyms (£500m, 61,000 staff) and Intu Properties (£300m, 600 staff).
    Never mind the notional value of The Rangers for a change. Let’s look at Celtic instead – Scotland’s biggest club. Its market cap today is £50.73m and according to the 2012 annual report, it has 451 employees. Then take Manchester United: market cap today of around £1.8bn and it employs around 620 people (latter figure from a 2011 newspaper report, so might not be wholly accurate).
    In rough terms one Manchester United is equivalent to 36 Celtics. One large bank like HSBC is equivalent to 72 Manchester Uniteds. The smallest company in the FTSE 100 – Intu Properties and no I’ve never heard of it either – is the equivalent of around six Celtics. (You can imagine the multiples you would have to apply if you were discussing The Rangers, or any other Scottish football team.)
    Certainly a company with turnover in the tens of millions and hundreds of staff is nothing to be sneezed at. Indeed, under the working EU definition of ‘small and medium enterprise’ Celtic is actually big. But it’s not globally big; it’s not mining-and-banking-and-pharmaceuticals-and-oil-and-gas big. Neither is The Rangers. Meanwhile, the financial potential of The Rangers as bandied about by Green was sheer nonsense, designed to appease those whose sense of identity comes – in part at least – from being emotionally attached to a large successful enterprise.
    There is also something here about the bafflement of some The Rangers supporters. If you see the club as large and significant then it’s perplexing why some rich bloke doesn’t ride over the horizon with a couple of billion in his back pocket and save the day. The truth is, The Rangers just aren’t that important. Market cap £27m – just over half that of Celtic. Around 66 or 67 The Rangerses would make one Manchester United. It would take 400 The Rangerses to make one Fresnillo. Who? Exactly…


  72. Well I didn’t think this would happen but I am now convinced that Green & Co are going to win the battle for Rangers which means of course Ibrox will be stripped bare.

    And how do I know this? Quite simply because Leggo today has given his backing to McColl, Murray and Blin ‘to restore order and probity to the Blue Room’ which is the kiss of death considering every saviour previously backed by Leggo have all ended-up ‘friar tucked’.

    However it was touching to see his usual fawning over Smith go into orbit with his reincarantion of Struth as a cardigan with the statement: ‘There are many who believe Walter Smith is the nearest it is possible to be to Bill Struth. That Walter Smith embodies much of what Bill Struth believed Rangers to be. That Walter Smith is exactly the kind of Ranger of whom Bill Struth would have heartily approved.’

    Walter has been doing quite a fair impression of ‘Dead Man Walking’ but I think Struth will be turning in his grave because one thing he did do was speak his mind and if Smith had had an ounce of Struth’s backbone then much of the misery inflicted on Rangers fans by the spivs could have been avoided.

    Smith is very very badly damaged goods in the eyes of many thinking Rangers supporters – whilst on the Board his silence was explained by AIM rules and regulations. What is keeping him silent now? Struth’s once proud club has become a fleapit circus under the all-seeing eye of Smith who went along with the spivs when it suited him, said nothing and did nothing, but with his presence encouraged fans to invest and buy tickets.

    No doubt Leggo has a future book pencilled-in as to how Smith went undercover – just like Traynor – to work behind enemy lines and frustrate the evil spivs and return the club to Struthian Rangerness under the control of Real Rangers Men. Sadly to have succeeded required courage and leadership which Smith has demonstrated by his inaction that he just doesn’t have. I’m afraid the final entry in his discharge book from Ibrox is the dreaded ‘LMF’ stamp.


  73. ecobhoy says:

    August 13, 2013 at 11:52 am

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    100BJD says:
    August 13, 2013 at 11:09 am
    ecobhoy says:
    August 13, 2013 at 9:34 am

    I actually think there might be a better candidate to be selling their shares than Imran Ahmad. His old Boss Richard Hughes a director at Zeus Capital – where Brian Stockbridge also worked before joining Rangers – also holds 2.2 million Rangers shares.
    =======================================================
    Econ definitely and categorically Richard has not sold his shares…he and Ahmed not exactly best mates over all this!
    ========================================================
    Hi 100BJD – I know you are in a position to call this one correctly. But I am surprised that he’s still holding in there although that takes us back to Blue Pitch Holdings or another investment vehicle holding Rangers shares organised or run by Zeus – any thoughts on that?
    Its a good call Eco. Richard actually is the good…ish guy here. The blue pitch scene was an Imran deal with him exiting Zeus through the deal. I would imagine that the shares sold are Ahmeds. He deals in getting shareholders in and exiting before the shares are worthless. This is his modus operandi. His £3.4m claim, which does not have to be referred to AIM if Rangers lawyers deem the claim to be frivolous and thus potentially creating a false market, is another example of getting out of Dodge. Ahmed is not interested in the EGM…..he wants out now! Professional or spivilly (new word I think) that is the correct decision. The guy is a complete shark and is behaving to type as I forecasted/warned many months ago.


  74. Eco,
    Also keep your keen eye on the Market Makers in the exit scenario. Their part is crucial here and all these boys are going to keep the illusion going until their own team get out.

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