Podcast Episode 3 – David Low

ByTrisidium

Podcast Episode 3 – David Low

davidLowDavid Low

represents a highly significant component of the history of Celtic FC and consequently a highly significant component of how Scottish Football has panned out in the last 20 years.

As Fergus McCann’s Aide-de-Camp, Low was instrumental in helping him formulate and implement the plans which ultimately allowed control of the club to be wrested from the Kelly and White families. Low also helped McCann to rebuild and regenerate Celtic as a modern football club.

His views are unsurprisingly Celtic-centred, and this interview reveals his ambition for the club to ultimately leave Scottish Football behind. That may or may not be at odds with many of our readers, but the stark analysis of the realities facing football in this country may resonate.

Podcast LogoHe provides a window on the pragmatism of the likes of McCann, Celtic and many other clubs in respect of the demise of Rangers. He pours scorn on Dave King’s vision of a cash-rich Rangers future, and provides little comfort for those who seek succour for our failing national sport, believing that Scotland will find it impossible to emerge from the football backwater in an increasingly global industry.

Agree or not with Low’s prognosis, it is difficult to deny his compelling analysis of our place in the football world.

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About the author

Trisidium administrator

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.

3,066 Comments so far

Night TerrorPosted on2:59 pm - Apr 28, 2014


@ecobhoy – OK, you want to explore your conspiracy. Grand. There might be one.

However, I thought we were talking about Wallace’s report. He’s shown what targets the club has. Champions in 3 years. He’s shown what he thinks needs done to achieve that in general terms.

Many people may disagree with his analysis, but there we have his plan and can judge him and the club/company by how they go about achieving it.

There’s not really much more to be said with out a lot more detail, or the passage of time and achievement or not of various milestones in that plan.

I’m really not sure what else was supposed to be in that report that would have made people happy.

What would you want to see?

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PhilMacGiollaBhainPosted on3:14 pm - Apr 28, 2014


wottpi says:
April 28, 2014 at 9:09 am
Blin and McColl left the stage for different reasons.

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CampbellsmoneyPosted on3:14 pm - Apr 28, 2014


Can anyone remind us who were the sellers of the Albion car park and Edmiston House?

Does anyone know who were the companies that supplied the Stadium Wi-Fi, LED displays and Jumbo screens (presumably so-called because they are a white elephant).

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ecobhoyPosted on3:18 pm - Apr 28, 2014


Night Terror says:
April 28, 2014 at 2:59 pm

@ecobhoy – OK, you want to explore your conspiracy. Grand. There might be one.
============================================
I don’t really go in for conspiracy theories and I think my posts on here bear that out as I try look for facts and answers.

I don’t think it’s a ‘conspiracy theory’ for me to wonder if serious investors will put more money into RIFC for it to be spent on paying the running costs of a loss-making football club.

Do you really believe the institutional investors who put in £18 million the last time to see it basically disappear in meeting operational costs and dubious ‘commissions’ will make the same mistake again 😆

An idiot knows that Rangers needs a BIG money injection but where is it coming from and why has Wallace been unable to say which existing shareholders will be injecting more cash as an investment rather than a loan at Wonga interest rates.

And if AIM rules prevents the naming of investors then surely he can state that unidentified current investors have provided cast-iron written irrevocable guarantees – with legal advice taken obviously – that stipulated numberts of shares will be purchased by them.

However – there is no point in continuing this discussion as your position is that Wallace has done a good job under the circumstances and I think he has done what he was paid to do. It really is that simple and time will provide the answer.

Time means nothing to me but I suspect that timing, as always these days at Ibrox, means everything to what is actually going to happen to Rangers. And if you think that’s a conspiracy then it might be but I am not a conspirator but merely a slightly bemused observer at where Rangers seems to be heading.

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Danish PastryPosted on3:20 pm - Apr 28, 2014


wottpi says:
April 28, 2014 at 2:30 pm
11 0 Rate This

Being that a lot of CEO Wallace’s review contains some of Pritchetts musings …
——–

It was indeed worth an extra read. Any idea how long Mr Pritchett used to compile the original background RFC report for Bill Miller? I seem to recall it was slightly less than 120 days.

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StevieBCPosted on3:20 pm - Apr 28, 2014


valentinesclown says:
April 28, 2014 at 2:48 pm

Investors,Sevco have made it to end season, cheers GW here is your pay off. Now you need to go…
===========================
Yes,vc whilst we all know the 120 days for a rather unsubstantial report was a delaying tactic, perhaps GW’s remit was as simple as: “Keep the show on the road until end of the season – and try and keep the media frenzy to a minimum.” Compared to Green GW has been very low key.

So now it feels like we are moving into the next Act of this Neverending Story…

Whilst the SFA on the surface is maintaining silence on all things TRFC – you can bet that behind the scenes they will be running around like the proverbial ‘blue’ a*rsed flies !
The SFA/SPFL – and TRFC – cannot wait until the next insolvency event happens, IMO – they must have agreed contingency plans in place already.

Would be great if anyone could confirm if Hampden and Ibrox have been in even more regular contact recently – in secret and perhaps somewhere neutral ?

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whispererPosted on3:26 pm - Apr 28, 2014


Aye Readies. The cry was legal tender

Go’an yersel keef !!!!!

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ecobhoyPosted on3:27 pm - Apr 28, 2014


Campbellsmoney says:
April 28, 2014 at 3:14 pm

Can anyone remind us who were the sellers of the Albion car park and Edmiston House?
============================
From memory as the info is on another ‘puter Edmiston House was a Murray company which I think ran a call centre operation out of.

The Albion, again from memory, was slightly more complex in that it was a lease situation which had to be bought out from possibly a finance company but the actual ownership again was possibly Murray-linked.

I am assuming that these properties didn’t end-up with D&P because they weren’t owned by Rangers at admin time.

Sorry to be so vague but I try not to make pronouncements of fact based on memory which can sometimes be faulty. There is some details in the Rangers AIM Prospectus but, again from memory, I don’t think the previous owners are actually named there.

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toadintheholePosted on3:32 pm - Apr 28, 2014


Campbellsmoney says:
April 28, 2014 at 3:14 pm

Does anyone know who were the companies that supplied the Stadium Wi-Fi, LED displays and Jumbo screens (presumably so-called because they are a white elephant).

This question sprung to mind at the weekend for me too. I’d like to see the press asking the question whether any connected parties benefited from the deal.

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SmugasPosted on3:33 pm - Apr 28, 2014


NT/Eco

I think to be fair we have to distinguish between the report summary, and the reaction (press, pro fans, not-pro fans) to the report.

As Eco has said, there did not appear to be any point in dwelling on the past in so far as it would serve no purpose, it’s too late and the desperately-now-needed capital base has long gone. The only key messages he could really draw from that would be a/ the previous board (bearing an instantly recognisable similarity to the present one) sucked at financial management which was hardly going to appear in print, and that b/ what had happened post August 2012 could not happen again – the financial mismanagement was killing them long term in terms of investor confidence and, of much more immediate importance, there was no cash left. His summary of this, we understand, was that £30m was required to effectively stand still as a business albeit hopefully gaining a couple of league titles (the 2nd meant clearly in jest, but he needs to show some ambition) in the process.

Step forward our glorious MSM and suddenly the moonbeam tinted reports are rife “RFC to invest £30m to win top league.”

I can just imagine Wallace reading the reports and muttering to himself “seriously, you read the report and that’s the conclusion you came to? We need £30m JUST to survive FFS. I’m going to murder that recuritment consultant.”

Welcome to Scotland Graham.

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JimBhoyPosted on3:35 pm - Apr 28, 2014


@WHISPERER

WATP – We Are The Paypal.. I take no credit, saw that one earlier..

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y4rmyPosted on3:35 pm - Apr 28, 2014


Those defending Wallace might like to ask themselves why he didn’t sell anyone in January when he had the chance. This would have provided a much needed cash injection (perhaps even avoided the need for emergency Wonga loans down the line), but moreover would have removed a few of the damaging escalating player contracts off the outgoings. He couldn’t even push through the 15% pay cut.

It’s an impossible situation for Rangers’ fans. They are being emotionally blackmailed to renew using cash, yet they know that it will be used in part to pay obscene bonuses for winning a third-tier league to the very same people giving them the ultimatum. They also know that in all likelihood unless enough of them stump up then insolvency beckons and they will lose it all and end up having to fork out again to the next chancer that turns up.

They have been so badly let down by the media and their own self-styled fan spokesmen, it beggars belief.

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JimBhoyPosted on3:53 pm - Apr 28, 2014


@TOADINTHEHOLE I do recall the Huawei Wi-Fi deal at Rangers had a 7 figure cost and I believe the Cisco system at Celtic was 6 figures, the stories broke at roughly the same time and i wondered about that difference (of course the difference may only be circa £100k) especially as Cisco gear aint cheap, I purchase enough of it.. The system at Celtic won a recent UK award I am sure.

Not sure about the other items but Whyte did sell the catering rights to a company upon them renovating the kitchens.. I guess they may be creditors to rangers (IL),

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JimBhoyPosted on4:04 pm - Apr 28, 2014


@SMUGAS
Step forward our glorious MSM and suddenly the moonbeam tinted reports are rife “RFC to invest £30m to win top league.”
——————————————————————————————————————————————————

I saw that mate as did most no doubt, the fact that it hasn’t been reported on here before now might be an indicator of how much of a surprise this actually is for those who care to think for themselves. MSM in their ineptitude and laziness is a common theme generally on here and rightly so. Things are changing though… Newspapers are going the way of snail mail, most of what comes thru my letterbox is junk.

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wottpiPosted on4:05 pm - Apr 28, 2014


Danish Pastry says:
April 28, 2014 at 3:20 pm

It was indeed worth an extra read. Any idea how long Mr Pritchett used to compile the original background RFC report for Bill Miller? I seem to recall it was slightly less than 120 days.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Miller named as preferred bidder on 3 May, pulled out 5 days later on the 8th after gaining more info from Duff and Duffer. Simples.

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SmugasPosted on4:07 pm - Apr 28, 2014


y4rmy says:
April 28, 2014 at 3:35 pm

Those defending Wallace might like to ask themselves why he didn’t sell anyone in January when he had the chance. This would have provided a much needed cash injection (perhaps even avoided the need for emergency Wonga loans down the line), but moreover would have removed a few of the damaging escalating player contracts off the outgoings. He couldn’t even push through the 15% pay cut.

It’s an impossible situation for Rangers’ fans. They are being emotionally blackmailed to renew using cash, yet they know that it will be used in part to pay obscene bonuses for winning a third-tier league to the very same people giving them the ultimatum. They also know that in all likelihood unless enough of them stump up then insolvency beckons and they will lose it all and end up having to fork out again to the next chancer that turns up.

They have been so badly let down by the media and their own self-styled fan spokesmen, it beggars belief.

I think there’s an extra step that your last sentence has particular resonance to. The fans are being emotionally blackmailed just now to pony up in the full and certain knowledge that it won’t be enough, that additional finance is still going to be required mid season. Then (as opposed to close season) timing will be crucial to get them from one match pre any announcement, to the next, post any restructuring that needs to be done. Even the average bear has sussed that in the event that what is essentially a margin call being made mid season all the board need to do is step back and say sorry we’ve asked everyone we can think of but its up to you now guys and the responsibility, literally, for getting 11 men in blue on the park will fall on them once more. That is the situation that both the SFA and the MSM should be moving heaven and earth just now to avoid for everyone including, and especially, the bear’s sakes since even Mr King has made clear that he would prefer not to be called upon.

What a to do!

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John ClarkPosted on4:13 pm - Apr 28, 2014


StevieBC says:
April 28, 2014 at 3:20 pm
‘….Would be great if anyone could confirm if Hampden and Ibrox have been in even more regular contact recently – in secret and perhaps somewhere neutral ?’
——–
And cheap, as well. The ‘good night out’ EBT payment was probably blown at the last known clandestine strategy meeting! 😈

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SmugasPosted on4:15 pm - Apr 28, 2014


Apologies, meant to add to last post – I’d be interested to hear our resident jambo’s views on the issue of living hand to mouth (when you know ‘something’s’ coming) and secondly to say that the most immediate (effective?) solution from the SFA’s perspective is a cash bond taken in the close season. But will they have the balls / see the need to ask?

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Night TerrorPosted on4:17 pm - Apr 28, 2014


Ecobhoy said:

Do you really believe the institutional investors who put in £18 million the last time to see it basically disappear in meeting operational costs and dubious ‘commissions’ will make the same mistake again 😆

I had no idea at the time how £22m was raised the first time so the minds of any prospective “investors” in The Ibrox Club this time around is beyond my ken. I’d have thought you’d have to be mad to put money in given their current circumstances.

An idiot knows that Rangers needs a BIG money injection but where is it coming from and why has Wallace been unable to say which existing shareholders will be injecting more cash as an investment rather than a loan at Wonga interest rates.

They do indeed need money to survive. Wallace was very clear on that. All he can do is say what the plan currently is. Circumstances dictate what you can do, and they are in very difficult circumstances.

As CEO, he has to show what could be done to get the club into a viable financial state. The worse the situation, the more challenging the plan will appear to be. Right now, he’s said we need good season ticket sales and a share issue later in the year. So far, so credible. If he already had the shareholders lined up to invest, there wouldn’t be any need for a plan, or perhaps even the fans to buy season tickets, so of course he’s not going to itemise how much every shareholder is going to flip into the bucket.

All he’s doing is saying
1 – here is the current situation
2 – here’s where we want to get to
3 – here’s what we need to do to get there

That number 3, whilst still possible, gives him some cover to remain in post. If those he needs to deliver certain things don’t deliver as expected, then that’s on them. Wallace can say I made it clear what I expected, I did my best but it’s not going to happen because of x, y & z. Toodle pip and god speed, Rangers. Now where’s my severance?

Again, I wonder what else should be in such a report that would make his detractors happy. If nobody can say what they expect him to do or say it’s pretty unfair to be disappointed in him for not meeting their expectations.

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StevieBCPosted on4:21 pm - Apr 28, 2014


A cursory look at the MSM over the weekend and the sports pages – and many other pages – were dominated by the TRFC non-footballing stories.

I tend to agree that it makes sense for TRFC to go into Admin. at the end of this week.
This will be followed by intense/blanket coverage of blaming/name calling etc in the MSM about TRFC and the main characters involved, [except (S)DM of course].

So, in the run up to the Cup Final on 17th May between St.Johnstone and Dundee United it will be all about the circus surrounding the Govan club, and probably how Scottish football needs ‘a strong Rangers’ in the top league…

And the nonsense will then continue through the summer, so that in the run up to the opening weekend of the 2014/2015 season – it will all be about ‘Rangers’ and their latest, off the field difficulties.

Scottish football just doesn’t need – or deserve – such a club which continues to hold a massive cloud of negativity hanging over the game – IMO. 😥

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JimBhoyPosted on4:34 pm - Apr 28, 2014


If only rangers had built that supercasino back in the day they would have another revenue stream and a place for Ian Black to hang out.

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scapaflowPosted on4:46 pm - Apr 28, 2014


StevieBC says:
April 28, 2014 at 4:21 pm

Probably the funniest likely outcome will be that the Media and the “noisy” fans will get their way.A righteous Admin will be declared, the cries will go out for The Man Who Would Be King

only to find an empty blazer :mrgreen:

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JimBhoyPosted on4:49 pm - Apr 28, 2014


Back onto the football, 2 pens at Celtic park yesterday that were clearly called wrongly by the ref…
http://www.bbc.co.uk/sport/0/football/27092928

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GoosyGoosyPosted on4:51 pm - Apr 28, 2014


Who is most worried about the state of TRFC ?
The Bears?
Nope
The SFA?
Nope
The Spivs?
Definitely Nope
,,,,,,,,,,,,,,,,,,,,
The people most worried are those who need Ibrox for the Commonwealth Games
If Admin this week is resisted
And
All bonuses get paid to the Staff
And
Redundancy payments are paid in full to the Innocent
And
The £1m Letham loan gets repaid
And
HMRC get paid
And
GW leaves town with a bag of gold
Then
TRFC are likely to cease trading
Unless of course
Alex Salmond ponies up
For the good of the nation

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scapaflowPosted on4:55 pm - Apr 28, 2014


“RBS has argued that while its management made grievous errors, investors were never deliberately duped.”

Sound familiar? Fred Goodwin’s in court this week, testifying as opposed to facing charges, but, a step in the right direction. Still hope for justice.

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rabtdogPosted on4:59 pm - Apr 28, 2014


Off topic
I know this is a daft question on a site called The Scottish Football Monitor, but are Hibs going to be relegated?
If so, what’s up with Terry Butcher and the Hibs squad?
And whoever ends up 11th in the Premier, what are their chances against Hamilton or Falkirk? (Assuming Dundee win at the weekend.)

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CampbellsmoneyPosted on5:04 pm - Apr 28, 2014


Albion car Park from Lloyds Banking Group for £1.6m and Edmiston House from MIH Group for £0.8m. So spend £2.4m and the money goes to LBG and MIH (same thing really?).

Still, that accounts for £2.4m of the £70-odd million that has come in (and gone out). Nice to be able to look after your pal (and the bank that is owed gazillions by your pal).

Why do these deals at all, if they are not income-generative for TRFC/RIFC?

Because it is a lawful way of getting money out of TRFC/RIFC to the benefit of the recipients.

Put at it this way. If there is no football played at Ibrox, is anyone interested in buying the car park land at £0.8m? Probably not. So to get £0.8m to LBG, it has to be done when TRFC are still trading.

As for Edmiston House! What do they use it for? It apparently wasn’t necessary for trading before administration and liquidation, so why buy it at a time you shouldn’t be doing anything other consolidating? The answer of course is in the identity of the seller not the building.

And that I suspect pretty much gives a flavour of the kind of things that they have been doing with the money. Of course, those two items are issues we can consider (known knowns). We know much less about Jumbo screens (but at least we know they paid for some) but who did they pay and should they have paid that much? (unknown knowns) As for the things we don’t even know they have spent the money on? (the unknown unknowns) I don’t know.

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AllyjamboPosted on5:05 pm - Apr 28, 2014


Night Terror says:
April 28, 2014 at 1:09 pm

NT,
I find it a very poor effort indeed, it’s not much better than a draft that’s taken 120 minutes to prepare rather than 120 days. OK that might be a bit of an exaggeration, but from what was promised, I’m sure the word ‘comprehensive’ or similar was used, it hardly merits taking so long to produce. It’s hardly a brave, no holds barred, eye-opening piece and spends more words blaming previous boards than showing the way forward in a believable manner. Even without the blame everyone, including the fans style, it could have been put together by any number of people here, without seeing the books. He could have summed it up with, ‘we’re in a pretty bad state, but don’t worry, we’ll give Ally some money!’

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rabtdogPosted on5:06 pm - Apr 28, 2014


hi jimbhoy
i’ve looked at the match report and unless i’m missing something it said Inverness’s pen wasn’t. What was dodgy pen decision #2?

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ShooperbPosted on5:13 pm - Apr 28, 2014


Rabtdog,

There is something very wrong at Hibs. With the size of the club, the resources they have, the fan base, the facilities, their successful youth policy etc. etc., they should be consistently top 4 at the very least, and yet they’re not.

You’ll find it very hard to find any criticism of Butcher in the media over this, though. The image projected is one of a manager let down by his players, rather than a limited tactician being found out at a larger club when his failings can’t be excused by his circumstances. I put this down to the fact that Butcher is well liked in the media rather than any other reason. He comes across well, is good for a quote, and his enthusiasim for life in Scotland is something that Visit Scotland would do well to harness at some point! However, he’s still not a very good manager, and requires precisely the right players in his team, otherwise it all falls apart.

However, going back to the main point, Hibs are in freefall, and if they don’t go down, it’ll be down to the failings of other teams round about them rather than anything that they engineer themselves.

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rabtdogPosted on5:21 pm - Apr 28, 2014


Shooperb
Hibs – 2pts from the last 24 in the league
5 scored, 17 conceded
3 games left
Partick Th (H)
Ross Co (A)
Kilmarnock (H)

I’m not mocking; as you say, somethings very wrong indeed. Was hoping a Hibbie insider might enlighten us.

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JimBhoyPosted on5:43 pm - Apr 28, 2014


Hi Rabtdog IMO Johansen’s pen was a dive, check the footage in the link I sent 2 mins 12 secs in, clear dive for me with the ref 10 yards away with a clear sight of events.

Some great goalkeeping both sides though.

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hamemadesoupPosted on5:44 pm - Apr 28, 2014


GoosyGoosy says:
April 28, 2014 at 4:51 pm
11 0 Rate This

TRFC are likely to cease trading
Unless of course
Alex Salmond ponies up
For the good of the nation
——————————

State Aid , surely ? 😉

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Danish PastryPosted on5:46 pm - Apr 28, 2014


A link to this article turned up on my twitter timeline. An awful lot of truth in what he says. And not irrelevant in the context of the next owner of Ibrox, if there’s to be one.

Steven Knight: Why I would never buy Birmingham City

Peaky Blinders creator Steven Knight has revealed that no matter how much he loves Birmingham City, he would never buy the club.

Given the fact that set himself up by helping to create Who Wants To A Millionaire?, Steven is always asked whether he will buy his beloved Birmingham City.

The stock answer is that he ‘can’t afford it… I’ll ask Jasper (Carrott)’, for whom he used to write TV scripts for shows like The Detectives and the sitcom All About Me.

But there is another reason why he will NEVER buy Blues no matter how successful the film he’s writing for Steven Spielberg becomes. And that’s because of the nature of football fans in general and not Bluenoses.
“Football is a thankless task because when you do well, people still want you to do better,” Steven shrugs.
“Clubs are run too much as businesses now.
“Blues need a new owner, it’s got to change.
“It’s scandalous the way that English football clubs are available to anybody and there has to be a real test, not just ‘fit and proper’.
“People do care about their clubs. Football is important to them.
“The idea owners can just change a club’s name on a whim is scandalous.
“But there is so much money involved, how can you do anything about it?”

http://www.birminghammail.co.uk/sport/football/football-news/peaky-blinders-creator-steven-knight-7037478?mobile=false

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FeduplongtimeagosoawizPosted on5:51 pm - Apr 28, 2014


Just heard that some of the peepul around my way will not be renewing ST’s as they will never subscribe through a vatican organisation. (I think they are confusing papal with something else!) 😳

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easyJamboPosted on5:58 pm - Apr 28, 2014


Smugas says: April 28, 2014 at 4:15 pm

Apologies, meant to add to last post – I’d be interested to hear our resident jambo’s views on the issue of living hand to mouth (when you know ‘something’s’ coming) and secondly to say that the most immediate (effective?) solution from the SFA’s perspective is a cash bond taken in the close season. But will they have the balls / see the need to ask?
======================
The lead up to the oldco Rangers demise in 2011/12 and newco Rangers impending demise in 2013/14 both had some similarities to that of Hearts demise in 2012/13. i.e. many people knew what was coming and a significant number of fans either refused to accept it or were emotionally blackmailed into believing that the inevitable could be avoided.

Personally, I was well aware of Hearts overspending during Vlad’s tenure, but while he was apparently funding the losses I happily accepted the situation.

However once there were inklings that all was not well in Lithuania it was clear to me that Hearts position was unsustainable. There was evidence of things going wrong at the club, contracts not being renewed, higher earners touted in the transfer market, wages being delayed.

Around April in 2012 we found out that UBIG were no longer funding the club’s overspend, so to me the outcome was already determined, although the date for the collapse had still to be determined. In October 2012 the club made a call for cash and announced a share issue. I declined to participate in the share issue as there was no possibility of the business staying afloat and that investing money at that time was simply putting it into a black hole. I felt that administration was only being delayed and that the money would be better saved and invested in a future CVA. I stated my views on a Hearts message board, but there were many who opposed my position and felt that they had to help the club in its hour of need. It was emotional blackmail at the time.

As it turned out 4,000 fans invested just over £1M in the share issue. That money just went down the drain. Administration followed in June 2013 and fortunately FoH was able to get a package together to save the club, with the assistance of 8,000 fans and their monthly pledges. I’m also pleased to say that because the club will survive via a CVA, those shares that were bought in Dec 2012 are still valid (although no certificates have ever been issued) and Ann Budge has confirmed that she will honour a previous commitment to issue the certificates.

Hearts fans are actually quite buoyant at the moment. We have seen the youngsters mature as the season has progress. Results are finally turning the corner. There is a brightening light as we near the end of the tunnel. (I don’t think the reality of how difficult it will be in the championship next season has hit home yet)

My advice to Rangers fans it to attempt to detach yourselves from the emotional attachment to the club for the time being. Decide what you want, e.g. a fan owned and run club, or a Rangers man (benefactor). There is nothing wrong with either. But the biggest hurdle is to accept the current reality of your situation. i.e. the club will be in the 2nd tier next season and that major shareholders have no interest in the club and the current overspend is unsustainable.

Personally I would starve out the current owners and force administration through non renewal of STs. It is the only hope you have of getting the club out of the Spiv’s hands. Play hardball if they want to retain the assets. Get a ground share with Queen’s Park if need be. Just be happy that the club survives and get back to the top on merit and with financial prudence rather than be propelled there by financial doping once again.

Going forward, work to a balanced budget. The potential is there to build a club that will compete at the top of Scottish football, just view that for the moment as an aspiration, not an expectation. That way you will not be disappointed if it takes a few more years than expected.

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twopandaPosted on5:59 pm - Apr 28, 2014


Not defending GW – but that review would have been published with the approval of all the `Board` –
and all the major shareholders – that is mysteron shareholders pulling the proxy strings.
Don`t like one scapegoat thing – they`re all rotten

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fara1968Posted on6:05 pm - Apr 28, 2014


I see that Keith Jackson is calling on Wallace to quit Ibrox if he is indeed a man of honour.
Keith, “also it was up to him to raise the general level of behaviour and to force the club to conduct itself in a proper transparent manner. To, at the very least stop insulting the intelligence of its own support.
Well Keith he didn’t tell them their wealth was off the radar did he? That would be him talking absolute garbage and grounds for him to go.

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upthehoopsPosted on6:07 pm - Apr 28, 2014


easyJambo says:
April 28, 2014 at 5:58 pm

Going forward, work to a balanced budget. The potential is there to build a club that will compete at the top of Scottish football, just view that for the moment as an aspiration, not an expectation. That way you will not be disappointed if it takes a few more years than expected.
====================================
That sums it up in a nutshell E.J. It is why I don’t have the sympathy for the fans that some have. I never will as long as the ‘our rightful place at the very top’ line keeps getting trotted out. There is not one of us on here who support other teams who have not known our club to experience hardship. Why do the Ibrox support think their club should be immune from that?

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MartinPosted on6:10 pm - Apr 28, 2014


The 120 day review produced by GW has not unsurprisingly divided opinion among the Rangers fan base though it’s fair to say that they were hardly united prior to the documents release.

For all the posturing and back biting exhibited by the various fan groups ‘saving’ the club is at least an apparent common goal, though given the notional immortality of the ‘club’ in question, perhaps achieving its former status and how such a thing might be achieved is a better way of framing the issue.

Someone and I can’t possibly reveal my source, once said “those whom the gods wish to destroy they first make mad “.

Personally I don’t believe in gods, not even one of them, but the quote remains poignant nevertheless.

While many Rangers fans agonise over giving their support to Dave King or the current board, those who have for various reasons already chosen their camp snipe at those who have chosen the alternative.

Moreover each side has actively engaged in a war of words designed to undermine the appeal of their opponent.

I’m sure the more thoughtful among the Rangers support must realise that they have been over this before.

Whatever happened to the ‘requesitioners’? Or any of the other would be saviours, ‘blue knight’ anyone?

While the debates have raged over the last couple of years and support for various individuals or groups have waxed and waned the choice for Rangers fans has always been given the appearance of a stark one.

Lending support to one group or the other was and still seems to be imperative. One side surely holds the keys to the much longed for return to the place called ‘rightful’, while the other offers only ruin.

In reality the choices faced by Rangers fans are never quite as binary as the current or previous protagonists would have them believe.

The box missing in this engineered faux ballot might be preceded by the words ‘none of the above’.

The extraordinary thing is that when the very idea that Rangers would be able to complete their fixtures in the coming season is openly questioned the plan put in place by the current board involves winning the top division in Scottish football and generating wealth from the resultant participation in European competition in a remarkably short time frame.

What madness is this?

Well to be clear it’s the kind of madness that involves someone or some group blithely spending 30 million pounds with no hope of return, making sure that it happens.

Except…they can’t make sure that it happens. So someone or some group are required to blithely spend 30 million pounds with no hope of return and no hope of European football success either.

Who do they have in mind, David Murray?

The King plan going forward is less well defined. Actually it’s not defined at all. Stopping Celtic winning titles seems to be an aim (no real harm in that) though there seems an all too familiar lack of anything substantial. Naturally the aim is appealing to Rangers fans for obvious reasons but anyone could make that an aim.

Does that justify support?

Shakespeare often made great use of a jester or some other lowly character like a grave digger to inform his audience of a truth that the main protagonists in the play could not see.

The kind of person who with wild eyes might suddenly exclaim something like “starve them out!”.

The truth for Rangers fans is that securing a future for the club might mean taking a realistic view of what that future looks like.

First and foremost having a club to support has to rank higher than any other ambition.

If you happen to hear of anyone talking about cutting costs and consolidating the position you are in now rather than making fanciful predictions of what the future may have in store, two things will happen. One, I will eat my hat, and two; you will have a team to support for the foreseeable future.

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Resin_lab_dogPosted on6:13 pm - Apr 28, 2014


Shooperb says:
April 28, 2014 at 5:13 pm

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Rabtdog,

There is something very wrong at Hibs. With the size of the club, the resources they have, the fan base, the facilities, their successful youth policy etc. etc., they should be consistently top 4 at the very least, and yet they’re not.

You’ll find it very hard to find any criticism of Butcher in the media over this, though. The image projected is one of a manager let down by his players, rather than a limited tactician being found out at a larger club when his failings can’t be excused by his circumstances. I put this down to the fact that Butcher is well liked in the media rather than any other reason. He comes across well, is good for a quote, and his enthusiasim for life in Scotland is something that Visit Scotland would do well to harness at some point! However, he’s still not a very good manager, and requires precisely the right players in his team, otherwise it all falls apart.

However, going back to the main point, Hibs are in freefall, and if they don’t go down, it’ll be down to the failings of other teams round about them rather than anything that they engineer themselves.

_________________________________________________________

Disagree.
Problem at Hibs is same on Moyes faced at Man U.
Clear out needed badly.
Its hard to motivate the condemned.
TB has made no secret of the fact that significant element of the squad aren’t going to be there next season.
The players are not shop-windowing themselves to any great extent.
Rebuilding is what is needed there. It will take 1-2 seasons to assemble the backbone of a young squad into a solid unit like he did at ICT.

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loamfeetPosted on6:13 pm - Apr 28, 2014


My ill informed thoughts on Hibs is that Butcher has put a rocket up some players’ arses and they haven’t liked it one bit. I don’t imagine Butcher is one for backing down so he’ll get to the end of the season and sell a boat load of them. I hope Butcher is given time to make the changes he feels are needed because I think he has brought a lot to the game in Scotland as a manager. Some of that Hibs squad, on the other hand …

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upthehoopsPosted on6:27 pm - Apr 28, 2014


Chick Young finally tells the truth on Sportsound

“…I look at Rangers Football Club and just think they’re not the Rangers Football Club I used to know”

Spot on Chick. It took you a while but better late than never!

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valentinesclownPosted on6:31 pm - Apr 28, 2014


Chic said he thinks Sevco will not go into administration . Some good guy has got to come in and remove the bad guys. Comedy gold. How is our licence fee so low?.
IMO fans from Govan should not worry about the board they know and can see. Who they do not know and cannot see and who own their club are the ones to worry about.

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torrejohnbhoy(@johnbhoy1958)Posted on6:38 pm - Apr 28, 2014


Phil MacGiollaBhain ‏@Pmacgiollabhain 4m

Is Hector looking into matters fiscal down Ibrox way again?

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easyJamboPosted on6:49 pm - Apr 28, 2014


I see that this season’s Glasgow Cup Final (U17s) is being played tonight. I assume the decision to play it at Celtic Park is intended to prevent a repeat of last year’s shenanigans at Firhill.

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Resin_lab_dogPosted on6:58 pm - Apr 28, 2014


valentinesclown says:
April 28, 2014 at 6:31 pm

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Chic said he thinks Sevco will not go into administration …

____________________________________

Did I dream it, or is it not the accepted convention that immediately Chic says something, Paddy Power pays out on the exact opposite.?

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ecobhoyPosted on7:04 pm - Apr 28, 2014


Martin says:
April 28, 2014 at 6:10 pm

‘The truth for Rangers fans is that securing a future for the club might mean taking a realistic view of what that future looks like.

‘First and foremost having a club to support has to rank higher than any other ambition.

‘If you happen to hear of anyone talking about cutting costs and consolidating the position you are in now rather than making fanciful predictions of what the future may have in store, two things will happen. One, I will eat my hat, and two; you will have a team to support for the foreseeable future.’

Spot on Martin but prepare to eat your hat 😆

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rabtdogPosted on7:14 pm - Apr 28, 2014


see exchanges with jimbhoy above
went to watch celtic ict highlights on youtube
observations
sparse crowd
celtic squandered a lot of chances
if ict had played like that in the league cup finsl the dons would have won in 90mins
both pens weak but you can see why the ref gave them
easy & deserved home win

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Resin_lab_dogPosted on7:23 pm - Apr 28, 2014


One thing that puzzles me slightly…
Lot’s of bears saying they would rather have another (sic) admin than invest money with the existing board.
One question I have is… what exactly are they expecting from such an admin?

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ecobhoyPosted on7:27 pm - Apr 28, 2014


Campbellsmoney says:
April 28, 2014 at 5:04 pm

Why do these deals at all, if they are not income-generative for TRFC/RIFC?

Because it is a lawful way of getting money out of TRFC/RIFC to the benefit of the recipients.

Put at it this way. If there is no football played at Ibrox, is anyone interested in buying the car park land at £0.8m? Probably not. So to get £0.8m to LBG, it has to be done when TRFC are still trading.

As for Edmiston House! What do they use it for? It apparently wasn’t necessary for trading before administration and liquidation, so why buy it at a time you shouldn’t be doing anything other consolidating?

I’m still on memory here but the flotation money had barely arrived when the carpark and Edmiston House deal was done.

In a way I can see the argument for the Albion carpark as it is a very nice cash earner every time there is a game at Ibrox but with everything that followed it just became another lead lifebelt.

there also seems to be some kind of planning permission which was granted for an extension at Ibrox which required the use of the Albion facility.

Edmiston House also made some sort of sense as that was where the new Rangers Superstore was to be located I believe as part of the Rangers Retail deal with SportsDirect.

But rumblings on the Darkside suggest that the cost of the refurb work is excessive and it would be cheaper to demolish and build from scratch. However in view of Mr Wallace’s comments about certain contracts could there be a fly in the ointment with Rangers Retail? Who knows – perhaps the real 120 Day report which is locked in Stockbridge’s old safe holds the key. But who holds the safe key ❓

One thing for sure is that they wouldn’t have needed the Laxeys’ Loan if they had delayed the two purchases although it would be nice to know what is charged per car and what the Albion capacity is.

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ecobhoyPosted on7:36 pm - Apr 28, 2014


Resin_lab_dog says:
April 28, 2014 at 7:23 pm

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One thing that puzzles me slightly…
Lot’s of bears saying they would rather have another (sic) admin than invest money with the existing board.
One question I have is… what exactly are they expecting from such an admin?
———————————————————————–
It might be simplistic but I think getting rid of Ally and highly paid players regarded as useless by the fans.

It would appear – courtesy of the review – that possibly some of these pesky contracts that are costing Rangers so much might also be swept away with an admin event although I think someone recently said some would require Fairy Liquidation 😎

Liquidation the first time hasn’t bothered the fans so they probably won’t be bothered a second time and the Immortal Club and its unbroken history will carry on to its eventual Rightful Destination which might not end-up being the one the fans would wish.

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ecobhoyPosted on7:52 pm - Apr 28, 2014


JimBhoy says:
April 28, 2014 at 4:34 pm

If only rangers had built that supercasino back in the day they would have another revenue stream and a place for Ian Black to hang out.
=======================================
And just think if they had installed the hover pitch they could have sailed id down the Clyde and headed for the Atlantic League 😆

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upthehoopsPosted on8:00 pm - Apr 28, 2014


Resin_lab_dog says:
April 28, 2014 at 7:23 pm
1 0 Rate This

One thing that puzzles me slightly…
Lot’s of bears saying they would rather have another (sic) admin than invest money with the existing board.
One question I have is… what exactly are they expecting from such an admin?
================================================
I’m guessing they expect £50m worth of investment, and their ‘rightful’ place at the very top.

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ecobhoyPosted on8:37 pm - Apr 28, 2014


Night Terror says:
April 28, 2014 at 4:17 pm
===========================
Now you’re confusing me 😯 You state, talking about potential large investors, that: ‘You’d have to be mad to put money in given their (Rangers) current circumstances’.

Then you go on to say:

‘All he (Wallace) can do is say what the plan currently is. Circumstances dictate what you can do, and they are in very difficult circumstances.

‘As CEO, he has to show what could be done to get the club into a viable financial state. The worse the situation, the more challenging the plan will appear to be. Right now, he’s said we need good season ticket sales and a share issue later in the year. So far, so credible. If he already had the shareholders lined up to invest, there wouldn’t be any need for a plan.’

Excuse the French but any effing halfwit can come up with a plan and real halfwits come up with 120 for money-making scams a day. Sadly for the halfwits none of them work.

You’ve said yourself that you’d need to be mad to put money into Rangers in its current state and I totally agree with you. So why should any major investor buy these shares that are apparently going to save the club and propel it into European Football.

Is the Ibrox financial position going to improve so dramatically in the next few months that investors are going to change their mind? I really doubt that and I should say that I expect at least 30k STs to be sold and perhaps more.

As I said earlier the problem is deeper than income/expenditure. It’s about what is actually planned for the future of Rangers and Ibrox from a Board and investors who would plant tatties there if it made a bigger profit than playing football. That’s the real problem and that’s what can happen when a football club is floated and control is lost to investors and a Board who have no real interest in football and pay only lip service to the history of a club and see its fans as a resource to be milked dry.

In the state that Rangers is currently in any old plan to play on Bear emotions – that has been worn thin being continuously trotted out – isn’t enough. The plan has got to be firstly credible and it has got to work.

So why are all these investors going to be queuing-up to invest their millions into Rangers? What do they get in return or are they happy to see the dosh disappear into running expenses. Possibly the bit of the plan that hasn’t been revealed is that there will be a new share release every year 😆

You might think Wallace’s plan is viable and I think it’s a load of manure unless he persuades investors to pony-up their tens of millions because even reasonable ticket sales and marginal cost-cutting won’t keep Rangers afloat.

And I loved your comment that if he had any investors lined-up he wouldn’t need a plan – never a truer word spoken in this whole omnishambles.

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StevieBCPosted on8:37 pm - Apr 28, 2014


torrejohnbhoy(@johnbhoy1958) says:
April 28, 2014 at 6:38 pm

Phil MacGiollaBhain ‏@Pmacgiollabhain 4m

Is Hector looking into matters fiscal down Ibrox way again?
============================================
Well, Hector is hardly likely to be looking into matters culinary down Ibrox way, now is he ?!

[Apologies, but it had to be said. 😆 ]

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SmugasPosted on8:51 pm - Apr 28, 2014


Resin_lab_dog says:
April 28, 2014 at 7:23 pm

One thing that puzzles me slightly…
Lot’s of bears saying they would rather have another (sic) admin than invest money with the existing board.
One question I have is… what exactly are they expecting from such an admin?

Yup two obvious and obviously sarcastic answers from me too namely

1). Nothing since that’s what happened the last time, and
2). (The forward thinking bear’s answer) a points deduction clean and quick, and when it doesn’t have any effect whatsoever.

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MartinPosted on9:01 pm - Apr 28, 2014


Ecobhoy.

I’m sure my hat is in no immediate danger of being consumed, read carefully the stipulations placed in its defence.

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Kilgore TroutPosted on9:04 pm - Apr 28, 2014


StevieBC @ 8:37

Book Cooking?

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SmugasPosted on9:05 pm - Apr 28, 2014


EJ

Thanks for the response re the similarities with Hearts. If both sides did play hardball (apologies I never actually saw a commercial development valuation of tynecastle that UBIG were ‘giving up’ when they gave up their security) for the RFC situation who do you think would blink. And would a period away from Ibrox really be required to co-erce that.

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ptd1978Posted on9:28 pm - Apr 28, 2014


The media reaction to the 120 day report suggests that many were actually expecting a miracle, or at least a couple of silver linings. It’s probably not Wallace’s fault that it couldn’t be better and if he genuinely used that time to try an renegotiate or wriggle out of most of the contracts that are bleeding Sevco dry, then 120 days is a reasonable timeline. He seems to have been a bit unfortunate that he got hee haw out of his last 119 days work on the thing.
So no magic trick. That and that alone seems to be what is has turned the tide against him.

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John ClarkPosted on9:31 pm - Apr 28, 2014


Shooperb says:
April 28, 2014 at 5:13 pm
‘….Butcher …….requires precisely the right players in his team..’
————-
A view was expressed on Sportsound this evening that big Tel was crass enough to let more than a few of his players know quite early on that he would not, given the choice, have had them in any team he ran because they were not his ‘style of player’ .
IF that is true, it is no wonder that he triggered off such a negative reaction. After all, being told you are not wanted and only there on sufferance and for contractual reasons is not going to fill anyone with enthusiasm! ( Graham Wallace might agree)
Any manager in any walk of life whose attitude was like that would clearly suffer for it.
And the Butcher boy might well have a heap of suffering to endure over the next little while, powerless to undo the damage his words and attitude may have caused.
Being an SMSM journo’s favourite ( a privilege reserved for a select few) won’t save him from the wrath of the supporters if (heaven forfend, and not for Butcher’s sake!) Hibs get relegated. He would have to go, as a failed, one-trick pony.

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upthehoopsPosted on9:37 pm - Apr 28, 2014


ptd1978 says:
April 28, 2014 at 9:28 pm
================================
The biggest problem the media have is failing to see that Rangers are not the potential financial behemoth they promote them to be, although obviously they could be better managed. What is so difficult to understand that Scottish clubs have to live within their means? Are Rangers the only Scottish senior club who are not doing that now?

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ptd1978Posted on9:39 pm - Apr 28, 2014


Compare what Wallace and King are offering as solutions now.
Both reckon the club needs £30m in the next two years. Both recognise the need to compete in Europe in order to break even.
King reckons that cash will fund a team that can stop Celtic’s 10 in a row and do well in Europe.
Wallace reckons that cash will allow Ally to strengthen a wee bit each year while just keeping the club afloat. I guess he’s relying on Ally’s managerial acumen to bridge the gap in squad quality with Celtic.
Turns out £30m now doesn’t get you what it did 4 weeks ago.
Soft investment indeed!

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easyJamboPosted on9:43 pm - Apr 28, 2014


Smugas says: April 28, 2014 at 9:05 pm

EJ

Thanks for the response re the similarities with Hearts. If both sides did play hardball (apologies I never actually saw a commercial development valuation of tynecastle that UBIG were ‘giving up’ when they gave up their security) for the RFC situation who do you think would blink. And would a period away from Ibrox really be required to co-erce that.
=================================
In 2004, Hearts had an offer of a minimum £20.5M from Cala Homes for the Tynecastle site. The deal would have seen Hearts largely clear their debt and move to Murrayfield as a tenant of the SRU. That is the point that Romanov came on the scene and offered to clear the debt and stay at Tynecastle.

In 2007 Romanaov proposed a £51M development involving a new 10,000 seat main stand, a hotel and leisure development. The deal never got off the ground mainly due to issues re planning with ethanol storage at the adjacent distillery, and the old Tynecastle school having a listed frontage.

If that was the peak of the development potential, then the low point was earlier this year when the distillery bought the old school site for £600,000. The school site is approximately two thirds the size of the Tynecastle site.

Re Ibrox, I think the Spivs would blink first. They all have a short term view of sweating or turning over assets for a profit. The threat of a move away from Ibrox may well be enough. If there was no income to be had from the site, then the Spivs would be forced into a quick sale, but the value of the site for commercial development would be highly questionable when there are many other sites available in the area..

I believe that no reasonable offer for the stadium would be turned down. What is reasonable? The Spivs only paid £1.5M for Ibrox and Murray Park assets combined. I don’t know anything about property values, but maybe something in the range of £5M-£10M would be enough.

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ptd1978Posted on9:48 pm - Apr 28, 2014


UTH
Totally agree. The question I have is why are so many papers turning on the Rangers board now. It seems unusual that so many would change their editorial slant on the same day, but if not the board then who is pulling the PR strings.

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TincksPosted on9:55 pm - Apr 28, 2014


Donation made.

Good work being done here.

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ShooperbPosted on10:02 pm - Apr 28, 2014


Resin_lab_dog says:

April 28, 2014 at 6:13 pm

Disagree.
Problem at Hibs is same on Moyes faced at Man U.
Clear out needed badly.
Its hard to motivate the condemned.
TB has made no secret of the fact that significant element of the squad aren’t going to be there next season.
The players are not shop-windowing themselves to any great extent.
Rebuilding is what is needed there. It will take 1-2 seasons to assemble the backbone of a young squad into a solid unit like he did at ICT.

Have to disagree with you. A good manager would make the most of what he had until such time as he had an opportunity to improve it, although your comparison with Moyes isn’t too far wide of the mark.

To my mind, Butcher is an example of a certain breed of manager, in which I’d include Moyes and specifically Iain McCall, who excel (comparatively) despite a paucity of resources and money. The question is always ‘If that’s what they can do on a shoestring, what could do they do with some decent funding?’, and the answer is almost always ‘not much’. It turns out that the shoestring budget covered up their limitations, and gave them wriggle room that they wouldn’t get in a higher profile, better funded job. I know it’s at a smaller level than Moyes, but McCall was comprehensively found out at Dundee United, and I suspect that Butcher will be the same.

Don’t get me wrong, it’s as plain as the nose on my face that Butcher did a good job at Caley Thistle, but that was as the plucky little Highland team, standing up to their better funded peers. Expectations at Hibs will be a lot more crushing.

(Edit – I should say that’s not my view of ICT, but it’s the way that they are portrayed in the media!)

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Resin_lab_dogPosted on10:11 pm - Apr 28, 2014


ptd1978 says:
April 28, 2014 at 9:48 pm

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UTH
Totally agree. The question I have is why are so many papers turning on the Rangers board now. It seems unusual that so many would change their editorial slant on the same day, but if not the board then who is pulling the PR strings.

_____________________________________________________

You would have to guess that some combination of McCoist/Cardigan/JI and King briefing against Wallace using the :slamb: . Potentially some of the current board mixing it up as well. Smacks of orchestrated PR assault by the establishment.
:slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb: :slamb:

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iamacantPosted on10:19 pm - Apr 28, 2014


http://news.stv.tv/west-central/273193-dave-king-attacks-graham-wallaces-rangers-business-review/

Oh dear. Pot/kettle/black springs to mind

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jean7brodiePosted on10:26 pm - Apr 28, 2014


In very sunny climes just now. I don’t , however, have sunstroke. This whole SMSM thing is Machiavellian and I don’t mean the comments about them on here.

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iamacantPosted on10:32 pm - Apr 28, 2014


http://www.bbc.co.uk/sport/0/football/27198670#38;utm_medium=twitter

Now the Beeb (Richard Wilson no less :slamb: ) has his say

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helpmaboabPosted on10:33 pm - Apr 28, 2014


What will it take for our football authorities to lay charges against the Govan club for bringing the game into disrepute?We’ve had tax men,sheriffs officers,and now Police Scotland investigations and yet,still silence from Blazerville.An absolute scandal.

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SmugasPosted on10:34 pm - Apr 28, 2014


Right, so Kings response to the amateurish business review (featured in full now on the Herald page) can be summarised as “so what about that Celtic eh?” And his solution to having no cash? Give them more of course! Just not his.

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billyj1Posted on10:36 pm - Apr 28, 2014


Have to agree with other earlier posts.
The attack on Wallace and other Board members is being closely orchestrated. Someone is obviously stirring the pot and briefing. The MSM are lapping it up and simply cutting and pasting to their hearts content.
This is looking increasingly gloomy for the honest bears on here and out there.
Wallace’s resignation can surely only be no more than a few days away, with Administration shortly thereafter. It’s going to someone’s plan.

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