Comment on Podcast Episode 5 – Hibs Takeover ? by tilhotdogsbark.
September 6, 2014 at 3:57 pm
Another thing I noticed from your transcript was the comment that the accounts won’t be presented till next month.
Yes I noticed this as well. Completely at odds with Summers’ claim that the AGM (principally to endorse a further share issue) would proceed either this month or next month. I understand his remit is to paint a rosie picture but this and other comments like Rangers being the envy of a number of EPL clubs verges on lying to the court.
Recent Comments by tilhotdogsbark
Small Price to Pay?
BIG PINKFEBRUARY 20, 2017 at 07:40
Thanks for posting this BP.
I was really sorry to hear of Roger’s passing and my thought are with his family and friends at their loss.
However I did smile when I thought back to the only time I saw the big man play. It was in a reserve match in the mid 60’s at Fir Park when I would have been in my early teens with all spectators in the main stand. The ball broke out of the Motherwell defence to Roger who was about 35 yds out and a Rangers supporter behind us shouted he can hit them” the big man blasted the ball it flew wide hit the unoccupied terracing and rebounded right back up the park finishing around the half way line. Everyone was laughing, as the old guy exclaimed “telt yees!”
Never to this day seen a ball hit so hard and that memory has always lived with me.
Another aspect of that game was the number of extremely talented Scottish players who were in the Motherwell side that day, Charlie Aitken, Joe McBride and Willie Hunter all featured.
Small Price to Pay?
CLUSTER ONEFEBRUARY 11, 2017 at 21:49
And if the court case with sports direct does not go the ibrox way?And if MW and his team gain any money due?what will be left from £12mill?
That was my point, they are assuming that European qualification will provide additional revenue to make them self sustaining. I believe that is risky at best and fanciful in reality.
The issue is, they seem to be misleading their fans that this “investment” is designed to become the major force in Scottish football when in reality it gives them a chance of a prolonged struggle to become a self sustaining entity.
They must look at Aberdeen and Hearts’ budgets and think becoming a shoe in for 2nd place at worse is a no brainer- with our income and relative player budget second place should be a given. All things being equal they are right, but the expenditure requirements at Rangers are of a different magnitude from those at Aberdeen and Hearts, largely because of the importance to them of their “big club” persona. There is also the unreasonable demands placed upon the club by their fan base who can’t accept anything but superiority. Without significant new investment they will not challenge at the top of the Premiership in the medium term
I still have difficulty getting out of my head, that arrogant address by Paul Murray on Radio Scotland after the successful Coup to oust Ashley’s placements and the Brothers. “We are Rangers and we believe we have a responsibility to lead Scottish football” aye right you are Paul.
Small Price to Pay?
When King spoke of the need for an investment of £30m to catch and match Celtic, Rangers fans would have been encouraged to learn that their new saviour understood the amount of ground that had to be made up. They would have assumed that this investment would be targeted at player recruitment and this would rapidly close the gap between the respective playing squads.
Having a number of friends who support Rangers and who strenuously back King, I know that they have been waiting on some clear signs that monies would be made available to acquire a number of players of a similar quality of that currently across the City.
They are far from stupid and would have realised that some of the “investment” would have had to be directed to make inroads into reestablishing the fabric of the club, its facilities and its operation. I imagine however that they will be taken aback to realise that the first £18m of this “investment” has already been delivered. It has been used to fund share purchase in order to gain control of the Boardroom, and includes the soft loans provided by Directors and Shareholders simply to keep the business solvent and able to trade.
To date this £18m investment has enabled the recruitment of some players such as the £700k used to secure Garner, but the 2nd instalment of his transfer fee will have to be funded from the next £12m investment, presumably made in the guise of a further suite of soft loans. These further loans will largely be needed to see the club though until it becomes self sustaining.
No lies I suppose but a fair bit of deceit, and little hope of these monies being used to significantly improve the playing squad.
Small Price to Pay?
HOMUNCULUSFEBRUARY 7, 2017 at 12:33
The figure quoted, £18.64m is the Net Cash position taking account of outstanding Capital Liabilities which I understand sit at £6.75m. Therefore the Cash in hand and cash equivalents stands at £25.4m.
Did Stewart Regan Ken Then Wit We Ken Noo?
First class, Auldheid. I applaud your endeavour and perseverance on this subject.
The questionable ethos of Scottish Football could not be better illustrated than in the Paul Marray interview on Radio Scotland yesterday. For a newly elected Director of a disgraced football club to feel entitled, comfortable and confident in claiming his club is the biggest in Scotland and has an inherent duty to lead Scottish football was staggering. For these comments to be meekly accepted by the interviewer and be virtually condoned by Tom English who has “radar tuned to detect any sighs of hubris” was equally staggering and demonstrates why issues such as set out in the blog will never be uncovered by the SMSM.
Richard Gordon was the only one who came out of that extract with any credibility.
Not wishing to suggest that the Hostile Takeover of RIFC is in anyway similar to Fergus McCann’s purchase of Celtic, but recall him stressing “We have no right to be successful just because we are called Celtic”. The comparison to his approach and that of Murray could not be more stark. I tend to think the results achieved will also be considerably different.