Our First podcast features a general discussion involving our own Big Pink and Auldheid.
Since it is the first podcast there is no particular agenda save for a general chat about TSFM, the state of Scottish Football, and some few reminiscences. The chat covers a lot of ground, but establishes the ethos of the blog pretty well.
Topics discussed include FPP, Leadership, Interdependence, Scotland’s self-regard, Coaching and Nurturing of Talent, Redistribution of Income, Rangers, Forgiveness, domestic strife 🙂
The interview was conducted a couple of days before the latest round of Armageddon, when Big Pink and Auldheid felt safe and well 🙂
The link below is to the iTunes store page for our Podcasts. If you go there, you can subscribe to the podcast (on your PC or iPhone) and new episodes will automatically be sent to you.
Since we have just been approved for a spot on iTunes, the iTunes search side of things may not work properly for a day or so.
Are statements “accurate”?
Don`t want any “inaccurate” ones
😉
andy says:
February 20, 2014 at 7:15 pm
0 0 Rate This
from McMurdos blog
==========================
Worrying on several levels. McMurdo needs to lie down in a darkened room for a while. Six months would be a start.
Statement from Wallace on the Rangers website-
GRAHAM WALLACE has moved once again to allay fears Rangers are heading for administration by categorically denying that will happen.
Speculation suggesting the club is heading in that direction just two years after that previously happened at Ibrox has been lingering in recent weeks.
But Wallace, speaking as he launched Gers’ new ‘Ready to Listen’ fan engagement initiative, insisted that isn’t the case.
The chief executive is currently conducting a 120-day review of the entire business as he tries to put a structured plan for the future into place.
At the halfway point of that, he remains confident of piecing together a sustainable model for the Light Blues can follow successfully in the long term.
Wallace told RangersTV: “I think it’s important to say the board, myself and the executive team are working very hard to rebuild the club.
“We are now midway through our 120-day review which is looking at every area of the business.
“What I categorically can say to all Rangers fans worldwide is that there is no threat of a second administration.
“Sometimes it is difficult to come out and rebut every element which appears in the Press in terms of potential administration.
“Let me put that to bed once and for all. We are absolutely focused on the long-term sustainability and success of Rangers Football Club.
“Supporters should not be concerned by some of the ill-informed comment they are reading. We are working our way through the business in a very logical and organised fashion.”
Rumours have also been circulating that Wallace is contemplating his own future at the club and considering quitting his post.
But three months on from his appointment in November, he has also dismissed that idea as he focuses instead on getting Rangers on the right track.
Wallace added: “I knew exactly what I was getting into when I agreed to come and join the club and my position today is no different from then.
“I am working very hard seven days a week and the board are standing alongside me working very hard too.
“There is a lot of hard work going on behind the scenes and we are all totally committed to the long-term success of this club. There is no threat of people walking away.”
Rangers International Football Club plc
(“Rangers”, “RIFC” or the “Company”)
Statement re. Press Speculation
The Board of Rangers notes the press articles this morning and confirms that it is holding discussions with two major shareholders with a view to arranging a loan of up to £1.5m to provide working capital for the Company.
££££££££
Will the company lend any of the £1.5m to the football club? If so, on what terms?
According to Keevins ‘Craig Whyte walked!! But he didn’t go away!! 😉 interesting
Danish Pastry says:
February 20, 2014 at 6:07 pm
‘..[Maureen Leslie ]….but [I] did think she was a breath of fresh air.’
———-
Me, too, DP.
I would have liked her to have gone on and spoken about Laxey and its modus operandi.
Because it seems to me entirely possible that they’re at their regular game, of increasing their hold in the board-room only then to push for sale of the assets because longer-term profits will take ( of course!) a long time to materialise-if ever.
I wonder if Wallace is a match for them-if he is not in cahoots (oh, what a lovely old black-and-white Western movie image that phrase conjures up!)
andy says:
February 20, 2014 at 7:15 pm
‘.THE THREE LITTLE PIGS ‘
——–
Andy, if that’s your work, copyright it. There could be a series in it!.
Short term loans from Directors to be repaid at onerous terms?
neepheid says:
February 20, 2014 at 7:31 pm
1 0 Rate This
Statement from Wallace on the Rangers website …
———-
Is this really the state of play?
Reads more like a press release using selected quotes. I reckon even some of the Ibrox faithful will remain unconvinced until he is interviewed in real time, live, by a proper journalist.
Listened to part of Radio Clyde tonight. I must admit I’m confused why Graham Wallace was overlooked for Governor of the Bank of England.
scottc says:
February 20, 2014 at 7:46 pm
Short term loans from Directors to be repaid at onerous terms?
—————————————————————————————————————————————-
Anything is possible I suppose – but in a listed company (even just an AIM listed company)??? At least, like the very best magic tricks, it would all be done in full view if that were the case.
john clarke says:
February 20, 2014 at 7:34 pm
Me, too, DP.
I would have liked her [Maureen Leslie] to have gone on and spoken about Laxey and its modus operandi.
—————————————————————————————————————————————
She is a Scottish insolvency person – she won’t know them. For details on Laxey and its MO, you probably want to speak to a highly-paid City type who moves in their milieu.
upthehoops says:
February 20, 2014 at 7:51 pm
2 0 Rate This
Listened to part of Radio Clyde tonight. I must admit I’m confused why Graham Wallace was overlooked for Governor of the Bank of England.
——
Probably smarter than Warren Buffett and George Soros combined. A genius, and a safe pair of hands. What can possibly go wrong?
valentinesclown says:
February 20, 2014 at 6:58 pm
“Graham Wallace stated categorically this club will not go into administration for a second time.
Correct, as it will be it’s first time.”
___________________________________________
That’s something I’m noticing more and more, this talk of a ‘second’ administration. Apart from the obvious fact that it would be TRFC’s first administration, it does seem strange that they seem to think that a ‘club’ can go into administration, but not into liquidation. Surely if the club wasn’t liquidated, it didn’t go into administration either.
Of course, it suits them to talk of ‘the club’ going into administration, as they were deducted 15 points for that very reason, and whatever way you look at it, it had to be ‘the club’ that had the points deducted.
What a pity they hadn’t found a Charles Green just before they fell into administration. They could have sold him all the assets of ‘the club’, but left the debts with the company, and hey presto, ‘the club’ plays on with no debts, no 15 points deduction, and stays in the SPL because Craigie boy’s misdeeds would have stayed with the ‘company’. Simples, really. I wish Hearts had thought of that 🙄
So who would loan £1.5M to a company that was losing money hand over fist?
What would be the point?
It is akin to putting a plaster over a slashed artery!!!
It does not matter if this money tides the Club/company over to the season ticket money comes in because that money is never going to be enough to see them complete a full season and it is clear now that everyone knows this.
All this would do is kick the can a bit further down the road and when the loaners reach that point they are £1.5M, along with their initial investment, out of pocket. Even with my limited knowledge of finance this is not good.
Now turning to Phil Mac’s latest blog where he states that his sources think this would fund an insolvency event well I’m still not convinced how this breaks all contracts, that some are saying is a major drain on resources, if some sort of CVA is agreed. I was under the impression that only liquidation would solve this and not an administration.
If they go down the MVL route then basically the club/company that has threatened, intimidated, and snarled at anyone who came near them will have to throw itself at the mercy of the SPFL board to grant them the same licence to carry on. It could be that this board would again throw it to the clubs for a vote then we would really see how many friends they have made on their journey. These clubs, who run themselves correctly on tight budgets, are hardly going to look any kinder on ‘The Rangers’ than they did on the old RFC.
So where does this leave us?
Still with a club who over the last twenty five years has spent on average £10M a season more than they brought in:
£40M – Joe Lewis (ENIC)
£20M – Dave King
£20M – Owed to HMRC for definite when RFC went breasts north.
£55M – Underwritten share issue by MIH.
£13M – Owed to other creditors when RFC died.
£50M – Possibly still owed to HMRC.
Almost £200M that this club/company has flushed down the pan in the last 25 years.
Still I for one am glad that they did not go down the financial doping route because they may have corrupted our sport!!!!!
Good luck Mr Wallace because you really are going to need it putting this financial addict into cold turkey.
Danish Pastry says:
February 20, 2014 at 7:59 pm
upthehoops says:
February 20, 2014 at 7:51 pm
Listened to part of Radio Clyde tonight. I must admit I’m confused why Graham Wallace was overlooked for Governor of the Bank of England.
——
Probably smarter than Warren Buffett and George Soros combined. A genius, and a safe pair of hands. What can possibly go wrong?
=====================================
I’d imagine since his best recommendations come from financial whiz kids like the Radio Clyde pundits and callers, an awful lot could go wrong!
Someone called SSB and asked where the IPO money has gone. Pundits did not explain as the board had so many changes over the past year or so.
The easy answer to finding out where the money went is for the fans to buy season tickets again and (with cash and all notes marked) and trace where this money ends up. There is the answer, right there.
Spivs then, Spivs now and Spivs forever.
I’ve been wondering why many knowledgeable posters are suggesting, like PMGB, that the £1.5m might be used to fund an administration. Then I remembered that it was RFC’s creditors who footed the bill for their administrators. In a voluntary administration, though, I suspect the company will have to find the readies to pay the admin men, and perhaps the ‘loan’ will be made directly to TRFC, because, as a creditor, RIFC might not want to, or be allowed to, fund the event.
ecobhoy 6:10 pm – pompous, self-indulgent, pretentious jobby. No doubt the predictable sycophants will TD me and TU you as they have been doing since yesterday, but I have enough insight to accept that while it is desirable to come down on one side of the fence or the other whenever possible, it is not a sign of weakness to recognise that there are occasions when sitting in the middle is the correct course of action. You, however, seem incapable of this.
Bryce Curdy says:
February 20, 2014 at 8:26 pm
=======================
Having looked at Ecobhoy’s post in question I am puzzled how you came to the conclusion you did – does that make me a sycophant? 😀
upthehoops says:
February 20, 2014 at 8:34 pm
1 0 Rate This
———–
On cue, whenever some quite important developments take place, a vacuous, attention-seeking, argumentative, distracting non-entity appears. It’s probably not a coincidence
Campbellsmoney says:
February 20, 2014 at 4:54 pm
Campbellsmoney says:
February 20, 2014 at 4:38 pm
blah blah blah
———————————————————————————————————————————–
Intemperate rant over for the moment.
I mean no discourtesy to Phil (who I know reads and joins in here). I very much value and appreciate his contribution to the debate (I have his book 🙂 ). He is one of the real leaders in how this farrago is viewed and understood – I just meant to say that I hope his contacts are really insolvency savvy.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
An excellent rant but I’m sure Phil is thick skinned enough not to be offended and anyway I demand to know “Who are these people?” he keeps quoting. Until we are told it’s pitchforks at the ready!
upthehoops 8:34 – probably not lol!
Bryce Curdy says:
February 20, 2014 at 8:26 pm
ecobhoy 6:10 pm – pompous, self-indulgent, pretentious jobby. No doubt the predictable sycophants will TD me and TU you as they have been doing since yesterday, but I have enough insight to accept that while it is desirable to come down on one side of the fence or the other whenever possible, it is not a sign of weakness to recognise that there are occasions when sitting in the middle is the correct course of action. You, however, seem incapable of this.
====================================
Oh dear we are getting upset 😆
Bryce Curdy says:
February 20, 2014 at 8:26 pm
ecobhoy 6:10 pm – pompous, self-indulgent, pretentious jobby. No doubt the predictable sycophants will TD me and TU you as they have been doing since yesterday, but I have enough insight to accept that while it is desirable to come down on one side of the fence or the other whenever possible, it is not a sign of weakness to recognise that there are occasions when sitting in the middle is the correct course of action. You, however, seem incapable of this.
++++++++++++++++++++++++++++++++++++++++++++++++++++++
If you are going to talk like that and make references to excretia might I suggest you change your username to Bryce Turdy!
Allyjambo – there is only one type of administration.
Stupid question:
How many redundancy payments could Graham Wallace pay for with £1.5m?
An alternative interpretation to admin is that he has the plan in place for the type of savage cost cutting that we all expected 2 years ago.
The only thing missing up to now may have been the means £.
PMG leaks could have helped him bounce the board and maybe even the bears around to what he clearly sees needs to be done (after all, everyone else without blue tinted specs worked it out along time ago!).
Maybe the 120 days was about getting bears sufficiently wound up with enough squeaky bum time that they’d softened up nicely and clenched for what is coming, to the extent that they’d actually be relieved when it is only savage cutbacks and massive price hikes, rather than full on insolvency… and give them a wee bit gloat at avoiding the chop!
It would be ballsy of him to do this before season tickets go on sale – but also entirely correct.
If he launches a mass cost cutting exercise AND says to the bears that if they don’t pony up for more expensive season tickets AS WELL, the club will fold.
This may be too much economic reality for a large section of the bears, but it would give him the opportunity to blame them for killing off the club should they fail to pony up.
With the right :slamb: press handling I could see that flying.
Will we see the second 11 manning the turnstyles and Ally McCoist selling the pies at half time – as the only remaining employees in ‘the big hoose’?
andy says:
February 20, 2014 at 7:15 pm
11 4 Rate This
from McMurdos blog
______________
February 20, 2014 – 30 Comments
THREE LITTLE PIGS
THE THREE LITTLE PIGS
By Billy Grimm
————————————————
That’s got to be the funniest thing I’ve read in a while . Is that really McMurdo ? 😮
Danish Pastry 8:44 pm – first of all for the record I have always genuinely admired your contributions to this site.
Secondly, if TSFM and RTC have records, they will both confirm that I am an infrequent if longstanding poster on both sites. Paul67 from CQN would also identify me as one of his first posters. I was the author of a lengthy article in his CQN magazine regarding the LNS decision. Your implication that I am some sort of troll should embarrass you.
Thirdly, I do not recognise myself as ‘the only vacuous, attention-seeking, argumentative, distracting non-entity’. There are several individuals more deserving of that nom-de-plum, although I doubt they will recognise this.
john clarke says:
February 20, 2014 at 7:39 pm
andy says:
February 20, 2014 at 7:15 pm
‘.THE THREE LITTLE PIGS ‘
——–
Andy, if that’s your work, copyright it. There could be a series in it!.
______________________________
No JC, it’s all McMurdo’s!!!!!!
Lord Vegetable @HenrikVegetable 5h
http://billmcmurdo.wordpress.com/blog-2/ Wut?
Edgar Blamm @EdgarBlamm 5 hrs
@HenrikVegetable HE’S ON ACID
peterjung says:
February 20, 2014 at 12:27 am
42
0
“Would anyone be interested in the conversations between Cragie, Imran and Brain from 2012-05-31?”
—————————-
Just a bit. A nice plummy red with just a whiff of corruption. A mouth watering prospect.
Mods…please…step in and axe everything to do with this drawn out and extremely tedious spat that’s going on. There are interesting things going on – but that’s certainly not one of them
ecobhoy 8:48 pm -upset? You’re having a laugh.
Tartanwulver says:
February 20, 2014 at 9:10 pm
7 0 Rate This
Mods…please…step in and axe everything to do with this drawn out and extremely tedious spat that’s going on. There are interesting things going on – but that’s certainly not one of them
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Exactly , outside or pack it in
Resin_lab_dog says:
February 20, 2014 at 8:59 pm
…
If he launches a mass cost cutting exercise AND says to the bears that if they don’t pony up for more expensive season tickets AS WELL, the club will fold.
This may be too much economic reality for a large section of the bears, but it would give him the opportunity to blame them for killing off the club should they fail to pony up…
================================
Absolutely !
McCoist alone is not going to shift many ST’s this time around.
Sir Cardigan is too busy studying for an Economics degree, [mibbees 😉 ]
So in the absence of another cheerleading legned to shift the ST’s, simple threats and scaremongering for the Govan customers should do the trick this time.
…plus a wee bit of ‘Charles Green-esque’ grandstanding thrown in for good measure…
Tartanwulver says:
February 20, 2014 at 9:10 pm
Mods…please…step in and axe everything to do with this drawn out and extremely tedious spat that’s going on. There are interesting things going on – but that’s certainly not one of them
=========================================================
No spat from me just amusement. As to serious issues I have made a number of posts in the last couple of days which I trust some posters will find interesting so I am not being deflected from posting on the issues that interest me and others trying to unravel this enigma.
I would also point out that I have not personalised the issue with Mr Curdy although he has not shown similar restraint but I do retain the right to defend myself as long as I remain within the ethos of the blog and I hope I have managed that although I will accept the decision of TSFM if I have erred.
Perhaps if you had been described as a ‘jobby’ then you also might form the same opinion of Mr Curdy that I have arrived at.
andy says:
February 20, 2014 at 7:15 pm
Little Pig showed them to the door and as they boarded their big blue bus he distinctly heard Very Big Brother say to Big Brother ‘so let’s go and find that fucking wolf.’
++++++++++++++++
They do not have to go far, the wolf is within, …….. feeding.
http://www.firstpeople.us/FP-Html-Legends/TwoWolves-Cherokee.html
What would be needed for a successful ST snatch and grab?
(1) A story wheeled out to spread rumours that CFC are in dire trouble and are not so far ahead of TRFC as folks think – cue taxhavens and his GCC and Co-Op conspiracy fantasies.
(2) A story of “kicking of ankles” still continuing – cue Ally with his I bet the LC Final would have been given to Celtic to host.
(3) Promises of better times – cue bus owners and SA Tax expert and unknown SA investors all racing up the marble staircase to give money.
2 stories we will not hear anymore in the next few weeks for ST
(1) Investment in players – cue Elbows declaring there is not much difference between the lower tiers and the top. No need to buy any players until they get there – then they will need to “replace” 30 million pounds worth to “compete”.
(2) Winning friends as they work their way up – this is now glossed over since they know that games at the next seasons opponents that the teams such as Hearts, Raith, Hamilton, Dundee, Morton, Falkirik etc are not going to be in awe of their visitors and may well not be so “welcoming” as others have been.
Even if they get to ST time, they will have to amend the advertising jingle – Sir Walter of Cardigan is no longer a cheerleader and Ally’s prowess is on the wain.
The emphasis will be on “nearly there” and “not far to go” – with more rumours of impending financial crisis at Celtic to make the gap to go seem a lot narrower for the rightful place at the top of the pyramid.
And it will be lapped up………….
I have tried to find who /what section of the Financial Conduct Authority would be responsible for granting exemptions from Prospectus rules. Their web page is not at all helpful and is probably badly out of date(the FSA having been replaced by the FCA). Or I’m too stupid to read it properly.
So to avoid going round in ever decreasing circles, I plumped for market.abuse@fsa.gov.uk and have sent the following email
” Company Number SC 437060- Rangers international Football club plc.
To market.abuse@fsa.gov.uk
Today at 9:29 PM
I recently raised a question by email to your customer contact centre email address [consumer.queries@fca.org.uk] relating to the granting of permission to the Board of Rangers International FC to omit details of the salary paid to one of their senior employees from the Prospectus they issued in support of their IPO ( on seeking admission to AIM) at the end of December 2012.
The short correspondence that ensued was given the ref PC210834/ISS10936810.
I was told that the matter was not one that the FCA can look into.
I was recommended to contact the London Stock Exchange, as the body responsible for the supervision of firms.
This I duly did, by email to aimregulation@lseg.com
The reply I received by email on 18th February was as follows:
“We note your query about whether the Company requested permission to omit details of Alistair McCoist’s salary from the Company’s prospectus. We also note your request for information about the regulatory or legal provisions that may have provided the authority to grant such a request.
We set out some high-level guidance regarding the application of the AIM Rules for Companies (“AIM Rules”) in respect of an admission document:
Although the London Stock Exchange (the “Exchange”) has the power in certain specific circumstances (in accordance with AIM Rule 4) to authorise the omission of information from an AIM admission document, this power does not apply if the admission document is also a prospectus approved by the UK Listing Authority (“UKLA”). The guidance to AIM Rule 4 states that: “[w]here an admission document is also a prospectus under the Prospectus Rules, application for such [an omission] should be made to the UKLA. The Exchange itself may not authorise exemptions from any legal requirement under the Prospectus Rules.” A copy of the AIM Rules may be downloaded from the following website:
http://www.londonstockexchange.com/companies-and-advisors/aim/publications/rules-regulations/rules-regulations.htm
As you may already know, because the Company’s admission to AIM involved a public offer of shares, it was required to publish a prospectus that was reviewed and approved by the UKLA prior to the Company’s admission to AIM. Accordingly, questions you may have regarding compliance with the Prospectus Rules should be addressed to the UKLA as the competent authority, details of which are set out at:
http://www.fca.org.uk/firms/markets/ukla/information-for-investors ”
When I accessed the second of those links, I could find no really immediately relevant contact point for my query.
So, I have used this’ market.abuse ‘ one.
Because I think the omission of the hugely disproportionate salary paid to the manager of a football club then in the bottom-most division of Scottish Professional Football was an abuse of the process by which companies have to apply for admission to AIM, by concealing a most extraordinarly unbusinesslike approach by the Board to basic management functions such as controlling staff salary costs.
A salary of c£750,000 p.a. for their manager is greater than the combined salaries of all the managers of the football clubs playing in the same division, and clearly far,far in excess of what a prudent Board should have sanctioned, and indicative of a recklessness in the approach to fiscal management.
These full salary details ought to have been made known to potential investors, so that they could make some kind of assessment of the Board’s management savvy. That Board as is well known is currently desperately trying to raise some working capital to see it through to the time when it might expect season-ticket monies for next season to come in.
Would you please oblige me with the answer to these questions
1. Are you the appropriate people to whom this email should be addressed?
2. If so, can you give the reasons why RIFC were permitted to exclude the details of their manager’s salary from the Prospectus, and why this was not an abuse?
And, of course, if you are not the right people to reply to this, will you please advise me of the person, office, function, who (or which) is?
Yours sincerely,
John Clarke ”
Blo.dy bureacracies!
ExiledCelt I think there is probably some truth in what you say, but I don’t think it is as simple as rangers fans being as gullible as you make them out to be, although no doubt some are and will enjoy reading the scenarios you laid out. I think however a lot more will be to do with the dedication of a hardcore of the rangers support, which has been underestimated before here. There’s probably c. 30k season tickets will be sold no matter what, in my completely off the top of the head estimation. Less than that I would put down to protest, more than that would be due to genuinely good news emerging or being duped by false promises. But either way, I do suspect that around about 30k season tickets would be sold without a lot of difficulty. Whether that is enough to keep the show on the road is a different question altogether.
It’s difficult for me to look at some of the statements made here and know what to make of them. It seems to be at times there are equal parts mockery of rangers fans for being gullible enough to keep handing cash to spins and equal parts mockery of rangers fans for not backing their team strongly enough with sneering quotes of 20k attendances at cup games. The words rock and hard place spring to mind. I for one think it is admirable that even admidst all the rumours circulating at the moment rangers fans contributed to the highest attended game in Scotland at the weekend at Somerset park.
Ryangosling – no-one is decrying all TRFC fans as gullible – my family are all of the blue bears variety and of the ones who had STs from RFC-NIL, all have stopped going to the TRFC – none of them bothered with STs. My post was not mocking anyone – merely pointing out the advertising slant the RIFC/TRFC PR dept are continuing on.
Also – was puzzled by your statement
I for one think it is admirable that even admidst all the rumours circulating at the moment rangers fans contributed to the highest attended game in Scotland at the weekend at Somerset park.
So it had a larger attendance than Celtic v St Johnstone? Sure about that?
john clarke says:
I have tried to find who /what section of the Financial Conduct Authority would be responsible for granting exemptions from Prospectus rules.
Keep up the good work
Somerset park. how many does that hold then RyanGosling says: celtic played at home
25225 against Rangers
But that was 1969 and the opponents are now deceased
The days of sitting pitch side are gone and various health and safety issues sees the capacity a bit less than 9k now I believe
ExiledCelt, I did not mean to appear to be accusing you of saying all rangers fans were gullible, didn’t mean that at all. I was just expanding on a point you raised. And you and ClusterOne both highlighted an inaccuracy in what I said- think it was the highest attendance on the Saturday.
Campbellsmoney says:
February 20, 2014 at 3:52 pm
£££££££££
An interesting theory. The worst possible way to borrow money is by giving up part of your assets in return. If the company borrow money from shareholders to lend to the company to lend to the club, what are the strings? £1.5M to the Easdales is a lot of bangers, what are they getting in return?
GW has, according to PCMG and the MSM, been taking part in a round of meetings with potential lenders in order to borrow money in order to pay bills. So far he’s been unsuccessful. He’s now turned his attention to shareholders, the shareholders aren’t exactly biting GW’s hand off. Surely it would have appeared more supportive if the deal had been agreed, then announced.
upthehoops says:
February 20, 2014 at 8:05 pm
Listened to part of Radio Clyde tonight. I must admit I’m confused why Graham Wallace was overlooked for Governor of the Bank of England.
=============================================================================
UTH…I may, as always be wrong, but possibly (Prof.) Brian Quinn was well above him in the pecking/selection order at the time…?
Me bad?
Ryangosling – just as an aside – I go on many supporters forums – I read many anti-Celtic messages that I disagree with and some I actually agree with, However I prefer that than just reading pro-Celtic forums about how wonderful Celtic fans all are.
One I found funny is the notion that for the cup games coming up at Celtic Park there will be a free can of WD40 given out in case your seat is rusted in the up position.
Ability to laugh at yourself and not take offence is a good thing to practise – just don’t take things personally and read offence when there is none intended. Many of us on here have different opinions – but the glue holding us is the notion that Scottish football can somehow get off this self destruction path and find the proper manner in which the game is enjoyed by all of us.
Exiled Celt I couldn’t agree with you more, clearly I don’t mind reading anti rangers messages or I wouldn’t be here 😆 As I said, I wasn’t getting offended, I was merely discussing your point about advertising / season ticket sales.
StevieBC says:
Sir Cardigan is too busy studying for an Economics degree, [mibbees 😉 ]
==============================================================================
Stevie…he can have my (fourth rate) degree if he wants…shall I put it on Ebay..? .offers over £1.5 million…guaranteed to replace the current moves for a “payday loan”…!
Me definitely bad…!
davythelotion says:
February 20, 2014 at 10:19 pm
I am not convinced that the loan will be made. It is interesting that every report notes that no deal has yet been finalised.
Perhaps the fans are being warmed up? Sorry loan falls through, we have to go into administration to save the club.
I can’t get my head around why no cuts, why no player sales.
Perhaps the survey today is deliberate – testing the water: how many fans have responded that they will not renew their season tickets?
All quiet from the SFA. Not one word. What glorious failure.
Ryan, season tickets are likely to rise in price and winning games be more elusive next season due to a combination of factors such as a better class of opposition and a weakened or at best static first team.I appreciate that many Rangers fans have opted to support TRFC and have inured themselves in a cocoon of denial among like minded souls.Some have quietly walked away whilst maintaining one eye on the goings on at Ibrox. There is also I suspect an unsavoury element of ‘nobody likes us,we don’t care’ that has come more to the fore with the genesis of TRFC …unwanted Jonny come latelys if you will. I would rather see a more rigorous response by genuine fans along the lines of FC Manchester or AFC Wimbledon. This at least could be applauded and recognised by football fans in general as the right thing to do.Thirty thousand Scottish football fans being mugged is nothing to crow about.
upthehoops says:
February 20, 2014 at 7:51 pm
52 0 Rate This
Listened to part of Radio Clyde tonight. I must admit I’m confused why Graham Wallace was overlooked for Governor of the Bank of England.
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He’s only a minor league spiv? Carney’s no different, just higher up the food chain.
So here is a wee ditty on the monitorING of Scottish Football (albeit grass/3g roots)..
As some know i try to coach some footie under 15s… Training tonight we had a hail storm or 3 the surface held up well as the worry with modern boots and plastic is always a concern…
We didn’t have to use those fekin pink balls you see in English football thankfully…Some good conditioning work for 35 mins (pre hail) and we gave the boys a couple of games as one team didn’t turn up giving us more space to work on the shared park…
An hours footie is spoiling the boys but they wanted another 30 mins as we finished up…. Can you remember that feeling as a young boy.? I would play all day as a boy in any weather… The boys tonight, as they always do, hate the call of ‘next goal the winner’…
Football in Scotland is healthy and loved as a game at that level… Where does it go wrong?
I gave it up 9 yrs ago after a second metatarsal break but have the knowledge that I can play ( poetic license) footie with my son twice a week..
Throughout all this LTL gives me the perfect lead in to my over riding thought on this nonsense. What exactly was the plan down govan road. I accept that it was the SPL but they had long enough to formulate plan B. I simply cannot believe they could be 18 months out in their financial planning. Which leads me to the only logical conclusion. The plan all along was get them back to full time football. That was not just priority 1. That was simply the b-all and end-all. Yet here they are (nearly) made it and to what end? They are two years away from SPL success and that’s on the unlikely basis that all 11 present incumbents roll over for them. It makes no sense. I hear no rumblings of a European invite only chumpions festival. No, the plan seems to be get them to div1 and sell them to the 500m. To which the spivs have added their own cunning and superbly constructed ( no pun intended) little property ruse. And in the middle of it all sits Campbell with his RFC business and annuity plan in hand wailing ” but you promised us hover pitches!” I cannot help but feel the newco route will be an ever more risky option for them.
JimBhoy says:
February 20, 2014 at 11:14 pm
‘..The boys tonight, as they always do, hate the call of ‘next goal the winner’… ‘
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I loved it when my side was losing! Chance for a bit of glory from a flukey goal. 😀
@Bryce Curdy 9.03
Like yourself, I am an avid lurker on this blog and an even less frequent poster than yourself. I only have time to review posts for a short period each day, usually late in the evening. I enjoy reading well informed posters such as @Campbellsmoney who I feel has really clarified a lot of the misunderstandings which permeate the blog at times. @Humble Pie is another who managed to grab my attention with his/her extremely articulate views.
What is clear is that there are a number of prolific posters who are able to post at all times of the day. I suspect they are retired and enjoy the intrigue, and there’s no harm in that. That said, just as is the case on the aforementioned CQN, a tacit rank order develops and in my opinion, certain posters who take a certain position on a subject will be supported in their views by other regulars without enough consideration being given to the counter arguments. A bit like your mates supporting you in a fight, even if you start it!
I recognise your moniker from before. I don’t recall anything in particular about your views from previous posts, but I’m confident that you’ve not just arrived on the scene to deflect. @Danish Pastry is certainly wrong in this assertion. He’s just giving his mate handers. Also @Bryce09 was a deflector, maybe some confusion there?
Incidentally, one of this blog’s prolific posters (probably its most prolific 😉 ) was a regular contributor to the late Paul McConville’s blog. The pettiness of his exchanges with RTC’s Adam was cringeworthy. If that was anything to go by I suggest you draw a line under your annoyance as the pompous cyber bullying approach can get much worse!
Keep posting.
O/T
I notice both Milan & Ajax got beat at home !
@JC you try and tell 16 hormonal boys it’s time to stop their 3rd/4th yr football drug mate..
It’s good to see them really enjoy themselves away from concerns and less than great family situations., Footie does that especially in a controlled environment in a good balance where the rivalry is good hearted sporting fun amongst all the boys..
I feel good about getting that balance but it is a major challenge as all parents want me to deliver them the next messi..
I miss playing, I want these boys to look back and have nice thoughts on the 7 or 8 seasons they have with me. They do not realise that yet but they will and I hope if nothing else they play for many years and stay healthy and away from the mad temptations that are around.. We try and teach good life skills…
Some great young footballers out there…
My son was at A&E after some bad knocks Sunday, he came along to training Tues just to be there and insisted on training tonight, much to my worry, probably says what I am trying to convey about the love of footie in this country…
On the day it emerged the club aimed to borrow £1.5m of working capital, Graham Wallace sought to reassure supporters.
“What I can categorically say is that there is no threat of a second administration,” he told Rangers TV.
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When Spivs make public statements we can assume they mean something different from what the words say
In this example
Wallace is saying
“I`m no Spiv”
“I will walk if Admin is forced on me”
“If it happens”
“Dont blame me”
In other words
A straightforward exit strategy is under way
We can look forward to
Wallace walking out just before Admin is announced
@SilentPartner
certain posters who take a certain position on a subject will be supported in their views by other regulars without enough consideration being given to the counter arguments. A bit like your mates supporting you in a fight, even if you start it!
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Last line:It may be suggested that this is just what you have done, like the other you have mentioned..
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Incidentally, one of this blog’s prolific posters (probably its most prolific 😉 ) was a regular contributor to the late Paul McConville’s blog. The pettiness of his exchanges with RTC’s Adam was cringeworthy. If that was anything to go by I suggest you draw a line under your annoyance as the pompous cyber bullying approach can get much worse!
=================================================================================
Is this not just a personal attack like the one you are eluding to should not happen on here?
Gentlemen, I am aware, as many
lurkers to this site are , that the majority of posters on here have a slight East End bias. Whilst I appreciate the analysis applied to the contortions of the 2-(soon to be 3) headed Hydra gyrating away in Govan, can I, as a simple sheep-worrying, Pringles- wearing. Sergio Tachinni loving football fan from North of Grassic Gibbons humble abode request one thing.
Scottish Football monitoring requires all people, of all faiths, creeds, bents and delectatations to work together, without fear or favour, to set things right.
Sadly, those that espouse transparency are oft times the initiators of a them-us stream that only just stops before Godwins Law would kick in.
I am a staunchly patriotic Scot. Pro-Independence, pro-McInnes and pro-the right to love all Gods creatures, expatriate Aberdeen fan.
The number of people who I talk to that are switched off this forum for it’s perceived pro-Celtic stance is an embarrassment to what should be a pro-Scottish football stance.
Many arrive and leave , the latest Bryce being an obvious deflector. Let us not be deflected by our bias.. Let us focus on the reason why we are all lurking, posting, analysing and dissecting..
When there is talk of a possible loan that is code for “there is no loan” . Such code is merely to instil hope for a few more days. when such a loan fails to materialise then the need for drastic action becomes clearer and thus more palatable. This is classical PR spin prior to disaster. Damm the icebergs , full steam ahead.
ecobhoy,
Your post earlier got to the nub of the problem. I believe you said, “no abuse from me, just amusement”. I do not wish my time reading this blog when you are using it for your amusement. Stick to what you are good at.
Fisiani says:
This is classical PR spin prior to disaster.
———
I wondered if it was a subversion of the classic politician’s tactic, prior to a big announcement – hint at something really terrible and wholly unacceptable, then whatever is announced will not seem as bad.
However, their pishing away £20m+ of IPO money and inability to secure any line of credit from a reputable lender mean that the likelihood of them coming up with something ‘less bad’ is fairly small.
I’d expect season ticket renewals to begin at pace, but they probably can’t afford the postage for the letters.
Please don’t pound barcabhoy with replies! Sorry barca, I am waiting on a name change.
———– ——————–
Would I be correct in saying that if this loan is to be satisfied in the form of shares, then they would have to come from the remainder of those set aside for fan uptake, at the IPO.?
The size of the loan has been speculated on. And I will not add to that, except to say it was an unexpected figure.
Wallace seems very positive there will not be an admin event, despite only being half way through his 120 day report, and yet, he knows they need £1.5m……It doesn’t add up!
Are we really looking at a loan? Or an engineered swing in the balance of power re voting rights.
What I mean is, should we be looking at the loan, or the votes. In particular, the failed bid to vote through res 10.
If so, Wallace has placed himself slap bang on the comfiest log at the spivs campfire.
Apologies barcabhoy for still being in this moniker. Having difficulties.
Please call me buster to avoid confusion until I get a new moniker resolved.
Would I be correct in surmising, that if the loan is to be satisfied by way of shares, then the repayment must come from the remaining block, if the unsold shares set aside for the fans at the IPO.?
My reason for asking is that we may be approaching this loan from the wrong angle. The value of the loan has been debated, and I will not add to that, except to say the figure was confusing, and hard to “fit”.
It also seems strange to me that GW can assert with such conviction, admin is a no no. Despite the fact he is only half way through his 120 day review, but is aware they need £1.5m funding….It doesn’t add up!
Are we really looking at an engineered swing in the balance of power WRT voting rights, and the loan, merely part of the illusion. In particular voting rights to push through res 10.
If so, GW, has just sat himself down on the comfiest log, in the driest spot, beside the spivs campfire.
Tin hat and flak jacket on…
I’m not fully up to speed with all posts at the moment due to more pressing matters (work?!) but I note there seems to have been some sort of spat. Once again, it would appear that a poster who is not a regular contributor has ruffled some of the heavyweight feathers. Without knowing all the facts I will simply say this, eco’ (and others); the contributions you guys make are invaluable and this blog would not be where it is today without them but sometimes you really do reek of arrogance. I know that this is a very poorly worded post and not very well thought out but I have time concerns! “Scotexpat” and “celtic67” summed it up better.
Must run.
barcabuster on February 21, 2014 at 3:47 am
2 0 Rate This
———
Morning buster! How many of the original block of shares were left? Wasn’t there something about Charles Green buying them up?
Regarding the Wallace ‘press release’, wasn’t it quotes from that promo video?That could have been recorded a few weeks ago? I wonder if he’ll repeat his catagorical ‘no admin’ to a live microphone?
From what I heard on the phone-ins yesterday, the Ibrox fans are looking for some serious assurances.
Regarding who pays for the administration process
All insolvency processes are designed such that the creditors bear the cost. This is done by legislating that the fees and costs of the process are paid out of realisations in priority to the pre-administration creditors.
Sometimes when a company goes into admin, there is no cash or (valuable) assets in the company. In order to trade during an admin, the administrator will need cash to pay bills as they arise. Pies need to be ordered and paid for. Staff need paid. Hotel accomodation etc. So there is a cash drain but some cash will also come in (I call it the internal admin cashflow as this analysis can ignore the calls of pre-admin creditors for the moment). If the internal admin cashflow does not work, its not possible to trade on during the admin (or at least not for long). So an administrator might (before appointment) ask stakeholders to ensure there is cash in the company to allow trading while the position can be addressed. Otherwise it is necessary to shut the doors.
Rangers International Football Club plc
(“Rangers”, “RIFC” or the “Company”)
Statement re. Press Speculation
The Board of Rangers notes the press articles this morning and confirms that it is holding discussions with two major shareholders with a view to arranging a loan of up to £1.5m to provide working capital for the Company. Documentation and terms have not been finalised, and a further announcement will be made when appropriate.
For further information please contact:
Rangers International Football Club plc
Graham Wallace
Tel: 0141 580 8647
Daniel Stewart & Company plc
Tel: 020 7776 6550
Paul Shackleton / James Thomas
Newgate Threadneedle
Tel: 020 7148 6143
Graham Herring / Roddy Watt / John Coles
Media House International Ltd
Tel: 020 7710 0020
Jack Irvine
Campbellsmoney on February 21, 2014 at 7:03 am
1 0 Rate This
Regarding who pays for the administration process. …
———
There was a mention on Sportsound last night the Laxey & the Easdale brothers would become the main creditors, in terms of future shareholding, following any loan.
How significant might that be? Any thoughts?
Silent Partner 11:34 – thank you. I genuinely don’t know who you are referring to in your comment about cringeworthy exchanges with Adam on the RTC blog. No doubt I read them at the time and vaguely recall comments of that type. I agree with your other comments that there is a clear pecking order (like all blogs and forums) and I know my low place. Equally it had become (as another described) a tedious spat and I’m not selfish enough to continue. I have previously congratulated ecobhoy on his quite superb work in relation to the allegations about Celtic’s land deals with GCC. In the interest of moving on I do so again now, without any qualification whatsoever. I would struggle to find a finer example of what makes TSFM the great blog it is. And no, I have no connection with Bryce09. My username is a long story but it is a name I’ve used on various blogs and forums for over a decade.
A small point of clarity to ecobhoy. The rather childish jobby comment was not a description of you but rather one of your comments. I recognise it could have been read either way, but if I am being charged with personal insults I plead not guilty. Can both of us please move on.
andygraham.66 says:
February 21, 2014 at 7:33 am
Ad on the back of today’s Sun
Rangers v Stirling Albion March 9th, Scottish cup quarter final
Shows you the respect they give their friends as they go on their journey
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Given their desire for demanding apologies from programme editors and match announcers and calling for boycotts I am sure, in behalf of the club and its fans, CEO Wallace will be launching an investigation to how this happened and issuing a public apology to Cliftonhill
Unqualified congratulations for ‘adversary’, personal reflection that some of my comments were tedious, selfish and childish, and an unconditional desire expressed to move forward and STILL more TDs than TUs.
The sycophancy on display puts the SMSM to shame.