Reflections on Goalposts

ByDanish Pastry

Reflections on Goalposts

A recent autumn storm caused the destruction of the metal goal fame in our garden. The small goal with the weather-beaten net had fallen into disuse. But I liked it seeing it there on the grass. I suppose I half-expected, half-hoped, it would be used again. Once, it was a father and son thing and had been constructed carefully from a nice set of plans. At the time, it impressed both son and daughter no end. But that was then, this was now.

One of our trees, blown over by the recent high winds, caused the goal frame’s final demise. As I unscrewed the twisted metal I thought of the hours of innocent fun it had given us. It had been the scene of many goals and not a few great saves. My son, who is soon off to uni, smiled thoughtfully as I mentioned that this was the end of the ‘goalposts of childhood’. Perhaps he knew what I meant.

My own childhood goalposts had been ‘doon the back’. Drawn with chalk on the red brick of the ‘sausage wall’ at one end, and on part of the ‘wash hoose’ at the other. Many a league, Cup and international match was played out between those goals on the Dennistoun dirt. We once put on a parallel version of a historic England v Scotland match while the real match was being played at Wembley. Jim Mone sitting on one of the dykes had a transister radio to his ear. As we played our match he chalked up live score updates on the wall — our Twitter and FaceBook anno 1967. What a day.

We did use a pile of jackets up on the old Dennistoun cricket pitch, but only rarely. Mostly, we played on the red gravel surface at the Finlay Drive entrance. That pitch was fitted with real goalposts — like the ones they had at Hampden. Or so we imagined.

These sentimental memories of receding years accompanied my removal of the ruined metal goal frame. But, as you can imagine, it seemed an almost symbolic act. For fans of Scottish football the ‘goalposts’ that once defined the game of our football childhoods — have not only been moved, they’ve been been twisted and mis-shapen out of all recognition.

The past decades have seen a fundamental change in the way our game is run and governed, at home and abroad. Money is now king and sporting consideration is a luxury we sometimes have to put to one side — or at least, so we’re told.

At the risk of stating the obvious, sport, if it is to mean anything at all, has to be based on clearly defined rules and principles. These rules must be applied equally to all the participants, they are certainly not optional extras. However, to misquote and paraphrase George Orwell, ‘all teams are equal, but some teams are more equal than others’ — at least, when it comes to Scottish football.

The efforts by the SFA to re-interpret rules to fit the unfortunate circumstances surrounding the demise of Rangers FC in 2012 have left most of us scratching our heads. Much of the Scottish media has backed up the SFA’s efforts, something which has added to the general confusion and chaos. In fact, it’s become clear that the death of Rangers, as we knew them, has been such a traumatic event that it must be denied. The authorities and media seem to have been so besotted with one club that its loss is out of the question. And so, it’s been gifted a bizarre kind of immunity from liquidation and death that implies its on-going existence, long after it drew it’s final breath.

This situation has opened the door to a legion of businessmen on the make. They have been allowed to perpetuate the myth, with SFA blessing, that they ‘saved’ Rangers. And their unwavering message is, that they can only succeed if fans keep giving them their hard-earned cash. To those outside the blue bubble it looks like a huge con trick. If the only source of real money in football is the fans, then the Ibrox faithful have been royally fleeced.

How different it could have been if the former club had been allowed a dignified end. A year out of the game would probably have allowed fans to restart a newco of their own. They could have applied for entry into the professional leagues along with the other clubs waiting in line. Chances are they would have been given special dispensation, and walked straight into the bottom tier. Of course, they would have claimed to be the continuation of the spirit of the previous entity — but would anyone have argued against that? How different it could have been if the rules governing the game had been respected. The SFA may even have kept their dignity intact and the press not felt obliged to print half-truths, falsehoods and lies.

You’ve got to wonder why Dunfermline and Hearts fought so desperately to avoid liquidation. After all, the Scottish football authorities now seem intent on convincing us that liquidation has little or no effect on a football club. Even past sins, such as wrongly-registered players are as naught — if, at the time, they were thought to have been registered correctly. By this logic, we have to ask: if a ‘company’ running a ‘club’ bribes a referee, will retrospective action will be taken against the ‘club’. The players and the club, after all, will have done nothing wrong. And since the referee was not known to have been bribed, and not struck off, he was qualified to referee the match in question, at the time. Using the SFA thought process, the result would probably be allowed to stand. Personally, I’m not sure I follow SFA logic. They’ve ‘moved the goalposts’, and (you saw it coming) bent them into an unrecognisable shape.

Which brings me back to our garden. The old metal goal frame is waiting to be driven down to the local re-cycling centre. The twisted metal and worn-out net are useless. Ruined by forces beyond our control. There is no interest in a replacement at present. Perhaps, if we have grandchildren, they will show an interest in football. If they do, I’ll build a new set of goalposts. They’ll be straight and true, the way the goalposts of childhood should be. The way goalposts should always be.

About the author

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4,642 Comments so far

Carfins FinestPosted on7:00 am - Jan 17, 2014


To all the pundits on Radio Clyde, to the BBC and STV. To all the so called journalists who ever claimed that TRFC/RIFC being in our top division was the cure all for Armagedon descending upon our game(even though it is mythical) Take a good look this morning down Govan way. I mean a very, very good look at the would be saviours today and tell me honestly that this spiv ridden money munching organisation you see before you are to be lauded and welcomed into the fold for the good of the game. Should all clubs be run in a simillar manner? Along with the SFA you should all hang your heads in shame.

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taxman comethPosted on7:02 am - Jan 17, 2014


SFA unconcerned about sevco winning the division through financial doping, only team not living within it’s means?

Same old same old

FPP – don’t make me laugh

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fergusslayedthebluesPosted on7:13 am - Jan 17, 2014


Cygnus x2
You can bet your house it was
I have said many times on here I wish the peepil running our game would stop kicking Sevco when they are down ,as it’s the rest of Scottish football that gets shafted

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Lord WobblyPosted on7:25 am - Jan 17, 2014


Exiled Celt says:
January 17, 2014 at 12:28 am
29 0 Rate This
I see the NewCo thinks it is getting 300,000 sell on fee from Jeklavic fee from Hull to Everton…..
And this would not go to Oldco because…………why?????

https://twitter.com/scotDMsport/status/423968239069052928/photo/1

Oldco – when it suits them
Newco – when it suits them
Holding company when it suits them

Thanks SFA for allowing this debacle!
~~~~~~~~~~~~~~~~~~~~~~~~~
The Mail explains it (well a bit more anyway):

A six-figure sum is now on its way from Goodison courtesy of a 10-per-cent sell-on clause the Ibrox club inserted when the player moved to Merseyside two years ago.
However, Rangers’ subsequent financial meltdown means they are in line for only half the money they stood to make after the 28-year-old moved on again.
The club’s liquidation means all monies raised for deals struck by the oldco are split evenly between the newco and the liquidation pot.
As such, the current board will only see £300,000 of the Jelavic cash while twice that amount would have been heading their way had liquidation not occurred.
A Rangers spokesperson confirmed: ‘The club will benefit financially from a sell-on clause that was in the original transfer agreement with Everton.
‘The money will be split between the club and the liquidation estate in accordance with an agreement that was made with the joint liquidators from BDO LLP.’

http://www.dailymail.co.uk/sport/football/article-2540763/Rangers-squad-rejects-15-pay-troubled-Scottish-giants-look-cut-costs.html

I wonder whether Rapid were aware of that sell-on clause when they agreed to accept £700k less than they were due?

http://www1.skysports.com/football/news/11095/8512267/

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fergusslayedthebluesPosted on7:28 am - Jan 17, 2014


taxman
Now there’s a surprise 😯
IMO things like that are what many people seem to be forgetting about when Sevco 2012 reach the top division .
The peepil smoothing their path through the leagues have no use for a mid table Sevco 2012 ,far from it .
What they need is a Sevco challenging for the title and most likely winning within 3 seasons at the top table ,then and only then will they believe the job has been done .
What we have ,are and will be witnessing in the future will be so unbelievable to any honest average FOOTBALL SUPPORTER that in years to come the Supporters will look at all the evidence and say ,how in the world was that allowed to happen .
The peepil running our game have went too far already to turn back ,so IMO it’s just heads down and do EVERYTHING they can to reach their ill conceived vision of what they believe is best for our (and I struggle to call it ) game ,as it is now so far removed from any sporting context that it will be no more than a SHAM when Sevco 2012 reach the top division .
😳 😳

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peterjungPosted on7:37 am - Jan 17, 2014


My absolute favourite “football finance expert” Neil Patey on Scotland Tonight on the prospect of administration:
“…well it can’t be ruled out, I’m sure even Graeme Wallace can’t guarantee it won’t take place….however I think it is unlikely…”

…admin it is then!

Links courtesy of the redoubtable alanmac

http://youtu.be/ySUZGAExbas

http://www.sendspace.com/file/yermya

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Hoopy 7Posted on7:51 am - Jan 17, 2014


Good Morning

clarke says:

January 17, 2014 at 12:36 am

Paulmac2 says:
January 16, 2014 at 11:15 pm
‘..Who will be the first journo to state the current situation was caused by preventing the new club into the top tier?’
———–’
Oooooohhhhh, that’s a hard one to call. I’ll go for Jackson, with what’s that old geezer’s name?-Keevins!-a close second.

Spot on as usual John. I don’t suppose you have the six numbers in this weeks lottery?
Jackson leading the charge in the daily ranger this morning.
I don’t think it will work this time.
I know some intelligent bears- bit of an oxymoron- who have finally woken up and smelled the coffee.

The folly of the SFA in allowing them in without accounts and sound business plans has come home to roost.

Where is Craig Whyte when we need him?

This is going to be a good weekend and I suspect suspension of shares within a week.
Cheers

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Lord WobblyPosted on7:53 am - Jan 17, 2014


pepperami says:
January 17, 2014 at 2:13 am
25 0 Rate This
Hi everyone I’m new on the site so plz go easy on me
Does anyone think the sfa should be held accountable if the new club went tits up.
~~~~~~~~~~~~~~~~
Always good to see new contributers.

I think most, if not all, on here want the SFA to be held accountable regardless of the fate of Scotland’s youngest club.

Btw, very refreshing to see you use the actual phrase ‘tits up’ rather than the ubiquitous ‘mammaries skyward’ or ‘breests northwards’ etc

Incidently, Peperami is made by Unilever, who also make a not dissimilar brand of sausage based snacks called ‘Bifi’ (they used to use the same ‘it’s a bit of an animal’ adverts). One particular variety (smoked sausage, kidney beans and bacon in a roll), does not carry the ‘BiFi’ name. It is called ‘Ranger’.

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SquigglePosted on7:57 am - Jan 17, 2014


Lord Wobbly says:
January 17, 2014 at 7:25 am

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The sell on clause is usually on the profit. Everton paid £5.2M, sold for £6M. £800K profit assuming no below the line fees had to be paid – are we to to believe Everton will hand over 75% of their profit??No,10% to Ibrox breaks down as £40K to BDO, £40K to Mr Wallace. Not a six figure sum.

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upthehoopsPosted on7:58 am - Jan 17, 2014


peterjung says:
January 17, 2014 at 7:37 am
——————————————————
The Scottish media fascination with Neil Patey never ceases to amaze me. The guy has got all the crucial predictions wrong in this entire saga and still they use him as their go to guy. Last night it was all very low key again, almost a ‘nothing to see here’ type of approach. Perhaps though any other financial expert who might put their head above the parapet and offer an alternative view simply doesn’t fancy the fall out, which as we’ve witnessed can be bad. Patey is almost like the intelligent Rangers fan put in place to soothingly reassure the bears the world will be at one sometime soon.

They all deserve each other.

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Paulmac2Posted on8:00 am - Jan 17, 2014


scapaflow says:
January 17, 2014 at 12:20 am
………………………………..

That’s a must say comment…after all who would buy a season ticket if he suggested otherwise…and lets not forget AIM market…a suggestion of going bust could lead to market suspension…some guys still need to get their shares out!

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upthehoopsPosted on8:03 am - Jan 17, 2014


Whatever the sell on clause is we will never know, as we simply can’t rely on the media to report with accuracy. That has been established beyond all reasonable doubt, though I suspect much of it is a fear of asking the question as they will not like the answer. At the risk of opening up the old/new club debate again, it is surely unthinkable that for ANY other club in that position, the media would not have bombarded the SFA for clarity on its status.

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Paulmac2Posted on8:04 am - Jan 17, 2014


So based on the figures of 7.2 million players wages…a 15% cut equates to 90k a month….get real.

Lets be honest the players would need to play for nowt and the back room staff would need to be trimmed to a single number…50 players needs to be 18 that’s the reality..

15% is just horsing around.

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Paulmac2Posted on8:07 am - Jan 17, 2014


upthehoops says:
January 17, 2014 at 7:58 am
……………………………..

Ah Neil…the man who stated they needed to pheonix across to the new club!

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Tif FinnPosted on8:08 am - Jan 17, 2014


How much the last club owed when it went into liquidation is irrelevant. They never paid that money and had no contingency in place to pay it.

The problem this club has is that when the cash runs out how will it pay it’s bills. There is currently no overdraft and no access to credit as far as we are aware. So when the day comes when they cannot pay their bills as they fall due they will be insolvent.

At that point they will move to be placed into administration, either voluntarily or as a reaction to someone else applying for a winding up order.

There may well be money made available by the people behind the PLC but I would imagine the terms would be onerous, indeed if resolution 10 is in place (which I think would require an EGM) it may well be a financial pound of flesh.

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upthehoopsPosted on8:08 am - Jan 17, 2014


Paulmac2 says:
January 16, 2014 at 11:15 pm

Who will be the first journo to state the current situation was caused by preventing the new club into the top tier?
=======================
I imagine the phone ins and papers may even go a step further, and demand emergency league reconstruction. Maybe they will not come right out and say it, but the clear inference will be ‘if you don’t want the mighty Rangers in your division, then hell mend ye’.

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Tif FinnPosted on8:26 am - Jan 17, 2014


On season tickets.

If the club is insolvent or near to it, in fact if it suspects that it is a real prospect in the not too distant future should it really be taking on more debt.

Season ticket holders are creditors, to the amount of the season ticket reducing as games are played, eventually becoming zero when the last game on their ticket is played.

35,000 season tickets at £350 each would result in a creditor figure of £12.25m.

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tobyPosted on8:32 am - Jan 17, 2014


I wonder how much resource, time, effort and money is spent at the SFA trying to fight fires because of one club. Instead of this resource going to strengthen the Scottish game from the roots up, years and you can bet no small amount of money has been expended on a club/clubs intent on corporate suicide. There are bloodied hands at the SFA, but no doubt a good amount has also been spent on medicated hand wash….

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Tif FinnPosted on8:34 am - Jan 17, 2014


Mr Wallace speaks in Rangers favourite propaganda outlet.

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-pay-cut-shock-exclusive-3030771

By Keith Jackson 17 Jan 2014 07:07

Rangers pay cut shock: Exclusive Q&A with Ibrox chief executive Graham Wallace
RECORD Sport’s chief sports writer Keith Jackson puts the questions that matter to Ibrox chief Wallace after another turbulent day at Ibrox.

RANGERS fans reacted in dismay last night after it emerged chief executive Graham Wallace had asked players to consider a 15 per cent wage cut across the board – sparking fears of another imminent financial meltdown at Ibrox.

In a interview with Record Sport’s chief sports writer, Keith Jackson, Wallace responds to the growing sense of alarm among his club’s fans and insists that another financial collapse is not on the cards. Here he explains why…

KEITH JACKSON: When players are being asked to take wage cuts it suggests the need for some alarm. What message would you send to the Rangers supporters who will quite clearly be concerned by this development?

GRAHAM WALLACE : What I can say is we are conducting a thorough review of every area of our business and of every pound that we are spending and every opportunity to drive revenue. The players’ wages and cost of football operations are naturally the most significant areas of operation in a professional
football club. That goes without saying.

All I am trying to do is look at options in order to move this club towards sustainability. That is my focus. This is not about a need for any immediate
drastic action.

This is about building a structure that will allow us to move towards sustainability and I am exploring every possible option. I think that is fair.

The thing that is slightly disappointing is the way some people are looking at this as an offer which has been made by the club to the players – and that offer has been rejected. No offer has been made. This is more of a conceptual discussion about the possibility of some sort of reduction to see if such a plan would be supported by the players.

Everyone knows the magnitude of the challenge this club faces to reduce our costs. All I am doing is exploring options as to how best to do it.

KJ: You say football operations represent the most significant costs for any club. But the last set of accounts indicated that the player wage bill made up around an £8million portion of the club’s entire £18m wage bill. The perceived logic is that the player wage bill now stands at around £6m.

Supporters will want to know what you are doing about addressing the wages being paid to those outside the first-team dressing room?

GW : That is my focus. We are looking at all areas. You ran a story last week that I have brought in Philip Nash to help me have a look at this.

We have brought in his expertise on a short-term basis to help us identify what we can do to get this club back on the footing that it should be. I think that’s entirely to be expected.

KJ: But if an already sceptical support is to be placated, these fans will want to see some members of your board feeling the pinch. Is that going to be difficult for you to achieve?

GW : What I would say is I am looking at the entire business. I am looking at everything and as we go through it we will make some change, absolutely.

We will build a business structurally and financially that equips us for future success. I have no doubt about that.

I am continuing to investigate every opportunity. This one today (the player wage cuts) was one we were investigating and it’s maybe just unfortunate that it’s come out as some form of offer which has been rejected.

As I say, no offer has been made. It’s just part of my exploratory discussions which are being carried out right across the business. Hopefully that gives you a bit of perspective.

KJ: Your problem here is that fans see suggested wage cuts and – given everything this club has endured over the last couple of years – they will quite understandably fear the worst.

The last time players took wage cuts at Ibrox the club was being plunged into a financial trauma. The question they need answered by you is clear – is this the beginning of Administration II?

GW : My response would be that this is a pointer towards the action which needs to be taken at an overall level to get the cost base of the club under control in relation to our ability to generate income, to make the club sustainable, to make it stand on its own two feet as we move it forward.

There is no threat of Administration II. Categorically, there is no threat of Administration II.

This simply sits alongside everything else that we are doing here right now – reviewing the business to put it on a sound footing for the future. That is my focus.

KJ: But after what happened in 2012, do you understand why many fans might not be inclined to believe you?

GW : Yes, but you can also understand fans looking at this and saying this is entirely consistent with the message I delivered at the agm.

I said then that our cost base was too great for our income stream. We need to realign it, we need to look at what we’ve got and make changes.

When you have professional football players on long-term contracts at decent money, your ability to do anything contractually is restricted – short of moving people on.

One of the things which is at the core of everything we are trying to do is to maintain a squad and a team that is capable of winning, playing good football and capable of taking us back to the top division.

I am exploring every opportunity, every avenue. These exploratory discussions with the team were approached in exactly that way.

KJ: If I were Ally McCoist, I might have a real problem with this. I might reasonably point to the wage to turnover ratio of under 30 per cent and say you are squeezing me too hard. Has he?

GW : The relationship I have with the manager is good. We both share a similar objective. We want to have a winning team, playing good football.

The question is how best to do that within the financial envelope that we are operating.

We are building for the future. Right now we are well clear at the top of League One and that will take care of itself.

What we are looking into is next season and the season beyond that.

But you have to remember that, all things going to plan, we will have a successful season next year and then we will be back into the top flight.

We have two summer transfer windows before then so there is plenty of time to make sure we have the right footballing capability, relevant to the competition we are in.

But what I am trying to do right now is ensure we can build a sustainable business.

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slimshady61Posted on9:03 am - Jan 17, 2014


stevensanph says:
January 17, 2014 at 4:38 am
—————————————-
Actually it is going to happen this time. For “Ticketus” read Damille; their investment is a prelude to sticking in enough money until the ST monies arrive.

But be sure they will get their loan back with interest and then some. The issue is clearly looking ahead to next season; the STs will be launched early – April is just about acceptable with a plea for early cash.

If the Bears trot along obediently in sufficient numbers with their bitcoins, credit cards & cash from their mothers’ bank accounts, all will be well. If they don’t, the better plan may be to take admin 2 early, settle for another year in league 1, close Murray Park and blame it all on (a) greedy players and (b) reluctant fans.

In the meantime, regardless, anything of value will miraculously appear in the ownership of RIFC and attempts will be made to find a sugar daddy/mug prepared to buy the football clumpany and run it on a lease to use Ibrox. The assets, loving cup and all (have they had their annual ceremony yet??), will be in the paws of the RIFC shareholders.

No one though has the sort of money required, as you can bet it will be a full insuring and reparing lease. Repairing Ibrox is akin to pouring money down a drain.

As I said about 18 months ago, what real Rangers fans needed to do was set up their own club and seek to play at a smaller ground, with a view to smoking out the greedy landlord [insert name of current majority shareholders here] even if it took 2-3 years.

You can’t teach the bears though; last night the recurring themes on the usual sites were “didn’t see this coming”, “can’t believe it’s come to this”, “they’re just making it up”, “it will never happen”, “Dave King’s been quiet for 3 months so that means something big is in the offing….”

How do you change a mindset that is so ingrained as that? The answer sadly is that you can’t.

They are beyond redemption and whilst much of the problem is self-inflicted, they have been ably assisted by the supine football authorities and a gormless press which even today is digesting large portions of quorn dressed as lamb.

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neepheidPosted on9:12 am - Jan 17, 2014


http://t.co/BMobM0pjhy

From the Daily Mail, a stark contrast to Jackson’s pathetic puff piece. It’a long article, so I’ve just posted a link.

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jockybhoyPosted on9:26 am - Jan 17, 2014


As the Girl form Tiger bay sang:
“.. and I’ve seen it before
.. and I’ll see it again
.. yes I’ve seen it before
.. just little bits of history repeating”

As Slim points out, there’s a potential “new ticketus”. Next thing they do is ask employees to take a wage cut. Players do – great. Players don’t, they are “mercenary barstewards who don’t care about this club’s long and ignoble, sorry, noble history”

I’ve already seen something praising Ally “Alistair” McCoist for taking a 50% cut, disregarding the fact that he held on to his SPL salary until the last possible minute.

This will all crash down (again) and it won’t be pretty (again), but what will the governing bodies do thistime? They can’t just keep repeating history Shirley (Bassey)?

PS Slim or others – I believe plcs can’t just accept “gifts” of money, but can subsidaries do so? Or would that have to be in the way of a “loan” of some description?

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douglas reynholmPosted on9:29 am - Jan 17, 2014


Tif Finn says:
January 17, 2014 at 8:34 am

He’s not very subtly dodging those director wages/bonuses type questions!
A lot of board hating RFC supporters will point to the wage/turnover Ratio of around 40%. This figure is skewed slightly given how much they have to pay out to maintain Murray Park and Ibrox ….i.e. that probably accounts for about 60% of their turnover whereas at Celtic this probably amounts to about 20/25% of the turnover, so different dynamics at work.

Many fans are saying where’s the IPO cash? Anyone else think that what has actually happened is that the institutional investors were highly incentivised to invest in Rangers? I know it has been mentioned in the past that they only raised £9m in the IPO, then accounts were released showing the £22m and that left most of us scratching our heads as to why professional investors would blow this on Greens project? Say they did invest this amount but were promised their dividends in the form of bonuses, consultancy fees, and IPO costs?

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Paulmac2Posted on9:30 am - Jan 17, 2014


neepheid says:
January 17, 2014 at 9:12 am
……………………….
A well written piece with no punches pulled…with a few well known TSFM catch phrases used…

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ecobhoyPosted on9:44 am - Jan 17, 2014


Tif Finn says:
January 17, 2014 at 8:34 am

Mr Wallace speaks in Rangers favourite propaganda outlet.
http://www.dailyrecord.co.uk/sport/football/football-news/rangers-pay-cut-shock-exclusive-3030771
By Keith Jackson 17 Jan 2014 07:07
==========================================
Well now we know that Wallce can ‘Talk the Talk’ but can he ‘Walk the Walk’ and if he can what direction is he heading in.

One thing for sure it’s a real eye-opener even for a cynic like myself to fully realise what a totally useless journo Jackson is – I just can’t get the image of puppy Jackson squirming on his back, while Wallace tickles his tummy and feeds him a succulent lamb dog biscuit, out of my head. I reckon Wallace would have faced a tougher time being interviewed by children from Ibrox Primary School and we would have learnt more.

I was particularly interested in Wallace stating: ‘There is no threat of Administration II. Categorically, there is no threat of Administration II. This simply sits alongside everything else that we are doing here right now – reviewing the business to put it on a sound footing for the future. That is my focus.’

I agree with Wallace, obviously there is no threat of Admin II for TRFCL as it would be Admin I for that company – Jackson chooses not to make the point.

But more importantly what has Stockbridge – the man with the safe and the deeds and oversight of every penny spent at Ibrox since the Green consortium took over – been doing since May 2012? Reading what Wallace states it would appear that it’s not a lot at least in terms of the financial health of Ibrox.

I think even the Spivs must realise his useful time is coming to an end but I’m sure he will be well rewarded for having to sit and watch Rangers play football on their excruciating and very expensive journey.

As to the waffle about the wage cut – well I will now take anything Mr Wallace says with an enormous amount of salt and disbelief. I had an open mind when he arrived and now I know which way he swings in the prevailing wind which blows from those anything but balmy offshore tax havens 😆

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FinlochPosted on10:00 am - Jan 17, 2014


Looking back 2 things didn’t make sense at the time.

There were no Bryan Jackson style draconian cuts by Duff and Phelps the last time the club hit the buffers.
Likewise when they had raised enough money to bankroll a sensible but well funded return to the top after their visit to the city they seemed to ignore all commercial propriety and instead see how fast they could burn it all – but especially looking after their own along the way with other people’s money.
That was never a strategy to run a football club.
A football club that could have been viable.
More a strategy for a fast exit.

With hindsight their plans become obvious.
Smoke and Mirrors and Rangurzness and Big Big Club thinking because that is what Rangurzness is about.

Enough time along the way for their penny shares to have all crystallised and deliver real value.
Plus all their internal expenses have been looked after handsomely from the institutional and fans generosity.
Plus one or two arms-length companies nicely in place to provide further future revenues for some inner-sanctum spivs via future security, merchandise and no doubt other income streams as well.
And don’t forget the land assets conveniently undervalued by D&P when that favour was needed
The two company structure easily allows the assets to revert to RIFC to balance the books and free up a (debt free but asset-less) club for sale.
I think that the spivs (as they disappear blamelessly into the ether) deserve the ultimate accolade this site awards….

Bunnet!

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scapaflowPosted on10:16 am - Jan 17, 2014


neepheid says:
January 17, 2014 at 9:12 am

neepheid, here is a phrase I thought I would never utter, well done Daily mail.

On the DR piece, I am quite happy to believe that RIFC is not going to go bust, TRFC Ltd, now, that’s a different matter :mrgreen:

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SmugasPosted on10:16 am - Jan 17, 2014


GRAHAM WALLACE : The players’ wages and cost of football operations are naturally the most significant areas of operation in a professional football club. That goes without saying.

Erm, see that whole not saying it thing. That hasn’t really been too successful in the past to be honest!

GRAHAM WALLACE : There is no threat of Administration II. Categorically, there is no threat of Administration II.

Ah, OK. Better, at least you’re saying it. But then you say it again, categorically no less. Overkill mate. Overkill.

Still at least you’ve stated several times that the new TRFC entity is completely unsustainable. Probably the first time that’s been said in the Daily Record. And categorically no less.

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100BJDPosted on10:30 am - Jan 17, 2014


neepheid says:

January 16, 2014 at 10:26 pm

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I agree with Tif Finn, I just don’t see them making it to ST time without a substantial cash injection. The cost-cutting we are hearing about is far too little, and far too late. A token exercise, in my opinion. I don’t doubt that they could get a cash injection, but the cost of that injection would be very high.

None of the large shareholders have the slightest interest in football in general or Rangers in particular. All of them just want a payday, and the sooner the better. They can sense the bears are starting to stir from their long slumber, so maybe skinning them might be a bit more difficult than it was last year. Time to check out now? That’s what I’d be thinking.
——————————————————————————————————————————————-
Neepheid,
Dont forget that if administration is the tactic then your first position is to control the process. This is a key area. If you are the largest creditor in the company for example you can call in the administrators which will of course, as far as the law allows….see The Duffers performance….you will be able to control. Rangers I would imagine are going to borrow the £2.5m exceptional funding mentioned in their accounts or Laxey/ Damille will front up some small loan on onerous terms which will be breeched by the club and the owner of the loan will commence their pre pack administration.
I remain of the opinion that this will be a prepack admin with another Sevco leasing Ibrox and Murray Park capitalised by the Administration controllers as the jewel in the crown.This I am afraid is a property play and I would also bet that Whyte is getting some hush money out of the new admin process to keep him quiet about the infamous Duff and Duffer/Sevco 5088/Sevco Scotland novated/non novated “binding agreement”.

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futbolPosted on10:31 am - Jan 17, 2014


“Categorically, there is no threat of Administration II.”

I agree, it would be Administration I.

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100BJDPosted on10:35 am - Jan 17, 2014


slimshady61 says:

January 17, 2014 at 9:03 am

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stevensanph says:
January 17, 2014 at 4:38 am
—————————————-
Actually it is going to happen this time. For “Ticketus” read Damille; their investment is a prelude to sticking in enough money until the ST monies arrive.

But be sure they will get their loan back with interest and then some. The issue is clearly looking ahead to next season; the STs will be launched early – April is just about acceptable with a plea for early cash.

If the Bears trot along obediently in sufficient numbers with their bitcoins, credit cards & cash from their mothers’ bank accounts, all will be well. If they don’t, the better plan may be to take admin 2 early, settle for another year in league 1, close Murray Park and blame it all on (a) greedy players and (b) reluctant fans.
—————————————————————————————————————————————-
Slim,
I was writing my post when you were posting yours so no plageurism going on…..although pretty similar views!

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SmugasPosted on10:37 am - Jan 17, 2014


Couldn’t help but pick this quote out of the otherwise excellent Mail article. It also serves well as my answer to the new poster – sorry, was it Pepperami? Special mention for putting some blame on David Murray by the way.

“It was bad enough that a combination of David Murray’s voodoo economics and Craig Whyte’s lies destroyed the oldco. For Charles Green and his gang of spivs to pull the rollercoaster back up the hill and to try and do it all again beggars belief.”

No, for them to do so was understandable – their Normandy Chateaux are testament to that.

Another interpretation is to go back 18 months to summer 2012. Those with a modicum of financial sense down Govan way, and there are some, are sitting at the bottom of the metaphorical big dipper roller coaster screaming Jeez guys, the brakes are knackered, the brakes are knackered. And yet a combination of the MSM and the SFA pushed (I’m not convinced Green was pulling at all, just steering) the rusty old pram all the way back to the top, and somehow expected a different result. And thus all our beliefs were beggared more! Completely beggared!

Of course, the sensible ones could have got off at the bottom and stayed off until they saw it was fit to go back to the top. But they didn’t, did they! And for that the blame must not pass exclusively to the authority figures mentioned.

See AJ for details on the word responsibility.

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peterjungPosted on10:43 am - Jan 17, 2014


neepheid says:
January 17, 2014 at 9:12 am

http://t.co/BMobM0pjhy
From the Daily Mail, a stark contrast to Jackson’s pathetic puff piece. It’a long article, so I’ve just posted a link.
___________________________________________________________________________________
Can someone please post a cut and paste? Currently in China and seems like the Daily Mail site is on the other side of the Great Firewall…..

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bardsPosted on10:47 am - Jan 17, 2014


Taken from the KJ record interview with GW;

“As I say, no offer has been made. It’s just part of my exploratory discussions which are being carried out right across the business. Hopefully that gives you a bit of perspective.”

If, as GW says, it was not an offer to the players then why oh why would you even bother asking that before the end of the 120 Day review. What is to be gained by saving ~ $200k over the next couple of months ?

Unless things are so bad !

Zero sympathy for the bears, they lost control of their club through inaction and will lose mark II in a similar fashion.

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scottcPosted on10:52 am - Jan 17, 2014


peterjung says:
January 17, 2014 at 10:43 am
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neepheid says:
January 17, 2014 at 9:12 am

http://t.co/BMobM0pjhy
From the Daily Mail, a stark contrast to Jackson’s pathetic puff piece. It’a long article, so I’ve just posted a link.
___________________________________________________________________________________
Can someone please post a cut and paste? Currently in China and seems like the Daily Mail site is on the other side of the Great Firewall…..

Two years on from a devastating fall into the financial abyss, Rangers face the painful prospect of another fight for survival
By JOHN MCGARRY
PUBLISHED: 23:30, 16 January 2014 | UPDATED: 23:30, 16 January 2014

It was always going to happen. The only imponderables were when the ill-wind would finally whistle through the corridors again and how exactly the numbers crunched this time around.

Some 23 months after many of them gathered to hear Craig Whyte tell them that the club was going into administration, the Rangers players filed into a meeting room at Murray Park after training early on Thursday afternoon. If some were not already bracing themselves for the worst, the grim look on Ally McCoist’s face soon changed that.

Graham Wallace, the club’s chief executive, hardly attempted to gild the lily at the AGM on December 19 last year when he stated that current expenditure was too great for a top-flight club let alone one in the third tier of Scottish football. In that moment, the die was cast.

Wallace initially met McCoist last week and for all the manager maintained a positive outlook he knew that harsh decisions would soon be upon him.

On Wednesday the pair met again along with club captain Lee McCulloch. This time the tone was more sombre and it concluded with the idea of a 15 per cent wage reduction for playing staff being floated.

The deal might not have been chiselled into tablets of stone but any hope the manager had of delaying the taking of medicine until the end of Wallace’s 120-day business review ended there and then.

On Thursday, McCoist summoned the squad to a meeting room and once all were present he handed the floor to McCulloch to outline the proposed 15 per cent wage cut.

The initial response was predictably subdued. One source revealed: ‘The players were shocked when Jig (McCulloch) outlined what was being asked for. They were asked for a simple yes or no to the demands. Many of the younger players couldn’ t afford to take a hit like that.

‘They had been warned something was in the pipeline but no one expected a gun going to their heads.’
Once the penny had dropped and thoughts had been gathered, there was anger: Why were players – not all of whom earn anything like £6,000 per week – being asked to take a drop in their money when those who were asking the question had not led by example?

Contrary to some reports, the wage cut was not dismissed out of hand there and then. Only a fool would anticipate it being agreed, however, especially if there’s no similar gesture forthcoming from those on high.
So there we have it: A proposed wage cut to stave off the very real threat of administration not two years after the club last fell into the centre of the earth. You could say it’s remarkable and, in one sense it is, but only the hard of thinking will not have seen it coming.

If the definition of insanity really is doing the same thing over and over and expecting different results, then Ibrox is indeed the mad house of world football.

It was bad enough that a combination of David Murray’s voodoo economics and Craig Whyte’s lies destroyed the oldco. For Charles Green and his gang of spivs to pull the rollercoaster back up the hill and to try and do it all again beggars belief.
After the initial demise, they re-started in the Third Division, not with a tight belt and a canny three-year plan, but like some 21st Century Loadsamoney character, snapping up some of the best players in the country on wages they could ill-afford with no regard for a ledger that showed a burn of £1m a month. Anyone who dared question the need to pay £7,000 per week to players in the fourth tier of Scottish football was looked upon like they had two heads.
Green, a man who said he wouldn’t leave Ibrox until he heard the Champions League music again, didn’t have any long-term considerations.

It was all about dressing the window ahead of a share flotation in December 2012 but, in reality, the club was a financial basket case yet again. The £22m that IPO raised – together with two years of season tickets – evaporated on running costs and immoral executive bonuses.

By the time Green left the club for a second time last August, his ‘big Yorkshire hands’ having taken over £1m out of the club, talk of another insolvency event was unavoidable.
Annual accounts showing a £14.4m trading loss up until June of last year provided an ample illustration of the financial vandalism the so-called saviour of the club had reeked upon it – not that it would be troubling him too much in his Normandy chateaux.

Paul Murray, the former director, hoped that he and three cohorts could take advantage of the worsening financial position by gaining seats on the board at the AGM but the growing influence of the Easdale brothers put paid to that – as well as Dave King’s immediate plans to becoming involved again.

There remains mounting frustration both among fans and within the Ibrox dressing room that, thus far, 2014 has brought no sighting of the ‘significant investment’ those who opposed Murray had promised was in the pipeline.

Ultimately, despite yesterday’s bombshell, players and management do see Wallace as an ally even though the chief executive could procrastinate no longer. Brian Stockbridge, the finance director, is on record as stating that the club will have just £1m in the bank come May, meaning savage cost-cutting is inevitable. Yesterday the whispers turned into cries of help from the rooftops.

Sportsmail revealed last week that upwards of £1m is to be trimmed across the board but there are fears that this is now the thin end of the wedge. The football department is braced to bear the brunt of any economies but all areas of the club are now under threat.

If McCoist’s players do eventually agree to the 15 per cent drop, the squad might just survive intact for the time being. If they don’t accede, the manager – and the club – have no obvious way out.
Paying up the bulk of the value of the contracts held by the likes of Emilson Cribari and Sebastien Faure is a non-starter. Money has already flown out of the door to square up the likes of Fran Sandaza and Dorin Goian and, besides, there is no credit line.

Loaning some players out might make a minimal difference but finding potential suitors is another matter considering the sky-high wages many players are on.

Similarly, selling a prized asset is easy in theory but not quite so in practice. Only Lee Wallace would command the kind of fee that would make it worth the bother but there is a fundamental stumbling block to that: The player doesn’t want to go anywhere.

Last night Wallace’s agent Gary Mackay told Sportsmail: ‘Lee Wallace wants to be a Rangers player at the end of his current contract and longer if possible.’

Footballers on good contracts not being willing to just up sticks and leave because it suits a club will come as nothing new to Graham Wallace – given his previous employment as CEO at Manchester City.

But that was a club swimming in cash. Rangers as a business is sinking and today it is hard to escape the mental image of the chief executive frantically trying to stop the ship plummeting beneath the waves of financial misadventure by spooning water off the decks. He’ll have to work phenomenally hard to succeed.

There are some grim portents for his hopes of pulling off a miracle. On Tuesday, Richard Hughes, a founder of Zeus Capital, made himself a tidy £500,000 profit by offloading the shares he received for a penny each from Green 18 months ago.
The price that day was 24p – well below the 70p supporters paid for their own little bit of their beloved club. Ask yourself this. If a savvy businessman like Hughes is selling his holding, what does it say about his predictions for the already plummeting share price?

Less than two years after the unthinkable happened, the prospect of history repeating itself is very real. The mood of one fan who tweeted last night seemed to sum things up.

‘This time last year,’ he wrote, ‘the Rangers board had £22m in the bank. Now they are asking the players to take a wage cut. Think about it.’

Even if another administration can be avoided, the pain that lies ahead will be excruciating.

http://www.dailymail.co.uk/sport/football/article-2540928/Two-years-devastating-fall-financial-abyss-Glasgow-Rangers-face-painful-prospect-fight-survival.html

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Gee69Posted on10:52 am - Jan 17, 2014


peterjung

Beaten to it – Deleted

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coatbrigbhoyPosted on10:54 am - Jan 17, 2014


1ST
at long last and after new year talks with he new chairman, McCoist’s paycut makes headlines,
Ally doing his bit for the CLUB

2nd, After a long media holiday Regan is in the headlins, a secret integrity hot line is opened, all hail the SFA,
Regan then announces that he has held talks with the new CLUBS chairman and announces that the game needs a strong “Rangers”

3rd
Players are “offered”/.not offered a 15% across the board cut, they tell the new CLUBS chairman to fek off.
what the matter with these players, as soon as wage cut was mentioned McCoist put pen to paper with out reading………………………..no sorry, that was his original deal, he took for months and long in to the night negotiation to agree a pay cut,

4th, fans of other CLUBS should not get the idea that there is one rule book for them and a different rule book if your CLUB plays out of Ibrox,

http://www.dailyrecord.co.uk/sport/football/football-news/ayr-united-chief-slams-grossly-3030867

Bet, more so bet against your own team to lose, 3 game ban for Sevco player Black

Bet, but bet for your own team to win…6 game ban if you play for Ayr Utd

they don’t even try to hide it, it’s like a rallying cry to the Sevconians,

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scapaflowPosted on10:54 am - Jan 17, 2014


100BJD says:
January 17, 2014 at 10:30 am

BJ given the off the RADAR depth of the hole, Mr Jackson’s Motherwell Born Billionaire is in, it’s going to take more than “some hush money” surely?

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Tif FinnPosted on11:00 am - Jan 17, 2014


Scapa

That is the part the fans have failed to grasp, because they were supposed to fail to grasp it.

TRFC and RIFC are different entities, the former is owned by the latter but they are still different entities. Wallace, speaking as the CEO of RIFC can comfotably talk about having little or no debt, indeed their debtors far outweigh their creditors. He can talk of no threat of administration because that really isn’t a threat for the PLC. He can say pretty much what he wants and the fans will take that as meaning “the club”

I actually read them going on about having no debt, when they have debts far in excess of their turnover. This is as a direct result of failing to understand the structure and being unwilling to listen to anyone trying to explain it. It is very easy to make people believe things they already want to believe.

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peterjungPosted on11:13 am - Jan 17, 2014


scottc says:
January 17, 2014 at 10:52 am
_________________________________________________________________________________
Thank you kind sir! Some dinner time reading for me!

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Tif FinnPosted on11:13 am - Jan 17, 2014


On the percentages and working from memory.

With the old club the non-salaries expenditure was around £14m, which whilst a significant figure was a reasonable percentage of turnover. From memory the last audited accounts showed a turnover of around £56m which makes that figure 25%.

With the new club that figure (13 month period) was around £13m (only about £1m less). On a turnover of £19m (13 month period) that is just shy of 70% of turnover.

Bottom line, only the players wage bill has taken a real hit. Green insisted on TUPE so the bulk of (non playing) wages will be the same. The other costs have not been cut very much at all.

For perspective, if costs were around £32m and players wages were around £7m then the other costs including wages were around £25m. That my chums is 131% of turnover.

Rangers problem is that they are living a top tier lifestyle with income nowhere near meeting it. It’s the equivalent of a man losing his job and still running a fancy car, still taking foreign holidays, still dining out regularly. Eventually the bank balance is down to zero.

The problem is Rangers don’t have an overdraft or a credit card. To continue the lifestyle they will have to go to loan sharks.

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scapaflowPosted on11:17 am - Jan 17, 2014


Tif Finn says:
January 17, 2014 at 11:13 am

Correct, what is even more appaling is that the non-playing staff wages are , IIRC, a higher proportion of the staff costs, than the playing staff.

Not got the accounts to hand,working from memory, so please correct if I’m wrong.

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SouthernExilePosted on11:18 am - Jan 17, 2014


Re the Jelavic sell-on fee, can anyone figure out why BDO would agree to give away half the benefit of a contract entered into by oldco???

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JimBhoyPosted on11:19 am - Jan 17, 2014


Gang I’d love to see a summary of Patey’s comments on the rangers clusterf*.. I have seen him interviewed many times and he always avoids any risk in his replies, effectively saying nowt…

If the rangers fans do not ask questions of Sally on his team building the last 6 months they are deserve to be in the position they are in.. Sally will of course say he had no idea what contracts (value) would be on offer but as we know that would be BS, he would at least know the ballpark. That times 11 new players, paying off two centre halves who could have played this season for the money they paid is just nuts…. Sally is centric to the illusion, the ‘fans have been great – oh poor me’ crap would have been seen thru by a 5 yr old…. Too many bears just did not want to see, hear or believe the truth…

Regan and Doncaster have to answer some questions and raise more after it has become clear rangers #2 are in real jeopardy of not finishing the season due to financial mismanagement.

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tobyPosted on11:28 am - Jan 17, 2014


SouthernExile says:
January 17, 2014 at 11:18 am

Re the Jelavic sell-on fee, can anyone figure out why BDO would agree to give away half the benefit of a contract entered into by oldco???
———–

So with this skewed logic, are they entitled to half the history and half the debt of the old co. too?

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SmugasPosted on11:28 am - Jan 17, 2014


SouthernExile says:
January 17, 2014 at 11:18 am

Re the Jelavic sell-on fee, can anyone figure out why BDO would agree to give away half the benefit of a contract entered into by oldco???
===============================
Me sir. Me sir.

Because they needed some bait for their phoenix rod?

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arabest1Posted on11:31 am - Jan 17, 2014


I notice Keith Jackson has inherited the title ‘Chief Sports Writer’. Now, I may be wrong about this I try to avoid the Daily Record (and if I do come into contact with a copy I handle it like i would handle a j*bby) but was that title not the sole property of ‘Alex ‘Candid/Chiefy’ Cameron’? Chiefy of course was a high profile Stirling Albion fan and never missed an opportunity to talk up the lower leagues in his quasi-ambassadorial role for the Binos. Much like the heir to Chiefy’s Chiefdom, Jim Traynor who similarly, and with some conviction used his position to promote his beloved Airdrieonians as a part of his relentless championing of lower league football, he even gave up journalism to pursue his love of the 4th tier. 😉

It is heartening to know that the Daily Record’s egalitarian coverage of Scottish league football will continue as Kieth ‘Chiefy’ Jackson uses every column inch to promote the teams whose heroic and relentless struggle for survival provide the foundation for our national sport. The Daily Record tradition of standing up for the little guys of our game looks set to continue………………………….

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100BJDPosted on11:32 am - Jan 17, 2014


scapaflow says:

January 17, 2014 at 10:54 am

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100BJD says:
January 17, 2014 at 10:30 am

BJ given the off the RADAR depth of the hole, Mr Jackson’s Motherwell Born Billionaire is in, it’s going to take more than “some hush money” surely?
—————————————————————————————————————————————-
Ha Ha the whole thing is so predictable. The posters on this site seem to know more than the MSM, SFA etc…it really is a shambles or to use another posters turn of phrase “an omnishambles”.

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helpmaboabPosted on11:33 am - Jan 17, 2014


jean7brodie@9:19
Nice one Jean.

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torrejohnbhoy(@johnbhoy1958)Posted on11:43 am - Jan 17, 2014


Morning all.
Recently,my wife has,as part of her attempt to stop smoking,switched to these new-fangled Electronic cigarettes.The theory is simple enough.A wee puff on the E-Cig gives you a wee hit of nicotine but not the bad stuff you would normally get in a normal fag.The catch is though,the bit you’re still getting is the bit that’s addictive,the bit you can’t shake.
So,this got me thinking(not recommended).
The bears are like the addicts.when their first hit(oldco) went bust they just switched to newco,hopefully leaving behind the bad bits,like EBTs,creditors etc.
Like the cigarette/e-cig comparison the addiction is still there though.
The future of TRFC may rest on whether the fans can or will break their addiction.
Anyway,in the interests of this post here’s a wee non fag packet but e-cig cartomiser calculation.
Wages were reported as £18m last season.Now if we accept that playing staff salaries were £7m(I don’t) and a reasonable figure for coaching staff,directors etc is around the £4m mark,then the ancillary staff totalling around 130 received approximately £7m between them,or an average of £51,852 each.
If you increase the coaches,directors pay to a whopping £6m,you still have an average for everyone else of just over £46k.
I don’t believe the turnover figure and I don’t believe this either.

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abigguydiditandranawaymisterPosted on11:48 am - Jan 17, 2014


With regard to The Rangers living above their means and having to access additional monies through loan sharks etc. as posited by Tif Finn earlier…

Surely Mike Ashley can put them in touch with the Newcastle United sponsors who may be interested…

Cue Music…
Mr.Wonga at Wonga dotcom (Wonga dotcom)….
lalalalalalalalalal
Wonga,Wonga,Wonga ad infinitum…

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slimshady61Posted on11:49 am - Jan 17, 2014


scapaflow says:
January 17, 2014 at 11:17 am
—————————–
I think someone – Glen Gibbons maybe? – mentioned that Brian Stockbridge takes out more than all of the directors of all of the other clubs in that division combined.

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No1 BobPosted on11:54 am - Jan 17, 2014


Tif Finn says:
January 17, 2014 at 11:00 am

I received this reply from BBC Scotland in response to a ‘concern’ about the different legal entities down Ibrox way.

“Thank you for your e-mail. Editorially, BBC Scotland is committed to reporting on this complex story in a fair, accurate and impartial manner. For practical reasons, it is not always necessary for the BBC to apply the full legal names of companies or organisations when making reference to them in an online story, broadcast or article – unless failure to do so would confuse the issue. Certainly, it is not necessary or appropriate to do so when making reference to sporting matters. However, BBC Scotland can, and does often make the distinction regarding the various business interests at Ibrox – but only if required to do so in order to properly explain the complexities to our audience.”

There you have it, the official editorial policy on how to report on the ‘Gers’. When will BBC Scotland get round to telling Alistair Lamont and the other numpties on Sportsound?

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valentinesclownPosted on11:55 am - Jan 17, 2014


Golden Goose just kept given. Spivs know the tune to play to help keep the fabric of our society club and all it’s traditions alive (Groundhog Day springs to mind). Club and traditions means nothing to spivs but the tune will live on as it seems that the Govan club fans cannot survive without it like their fathers in the grand old days…… Suits me fine their traditions ( and a helping of sheer stupidity) will always make spivs money, with the added bonus of the club not being able to really prosper.
Will be really interesting what new theme will be used to sell ST’s and how soon will this occur. Shame on the SFA they are letting this sham happen, letting the fans of Govan club to be ripped off and in the process ridiculed by all other clubs fans in Scotland (in saying that the Govan fans have to admit part of the blame as they were warned yet again) . What happens in Ibrox stays in Ibrox (and also the SFA)
Sad state of affairs that we have such a governing body in charge of our football.

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scapaflowPosted on11:59 am - Jan 17, 2014


Oh to be a fly on the wall at today’s press conference, which will be Just Mr McCoist, allegedly the players refused to attend

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SmugasPosted on12:06 pm - Jan 17, 2014


scapaflow says:
January 17, 2014 at 11:59 am

I’m more interested in when a proper journalist IS going to attend.

Bet The Mail guy gets a warm welcome, or is he on ze list?

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scapaflowPosted on12:12 pm - Jan 17, 2014


Smugas says:
January 17, 2014 at 12:06 pm

Gossip columnists only, as per usual

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JimBhoyPosted on12:29 pm - Jan 17, 2014


SFA owed £250k by Rangers… If this isn’t paid who will pick up that bill..? Unfair to ask other teams to fill that expenditure gap..

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helpmaboabPosted on12:32 pm - Jan 17, 2014


Re Neil Patey.
All you CAs out there.Does this man have any credibility in the finance world? I suspect everyone is laughing behind his back.Appears to me he’s just a silly bears comforter.

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JLeeHookerPosted on12:42 pm - Jan 17, 2014


Alistair McCoist: “We don’t do walking away”
The Rangers team: “We don’t do docking our pay”

😆

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scapaflowPosted on12:45 pm - Jan 17, 2014


helpmaboab says:
January 17, 2014 at 12:32 pm
Eldest brother who is a member of ICAS and an IP, wishes he would just shut the feck up.

Does that answer your question?

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easyJamboPosted on12:45 pm - Jan 17, 2014


Tif Finn says: January 17, 2014 at 8:34 am
——————
Re the Record interview. Was Wallace trying to create a new record of how many different ways he could say the same thing?

“we are conducting a thorough review of every area of our business”

“All I am trying to do is look at options”

“I am exploring every possible option”.

“All I am doing is exploring options”

“I am looking at the entire business”.

“I am looking at everything”

“I am continuing to investigate every opportunity”.

“discussions which are being carried out right across the business”

“we are doing here right now – reviewing the business”

“we need to look at what we’ve got”

“I am exploring every opportunity, every avenue”.

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m.c.f.c.Posted on12:50 pm - Jan 17, 2014


First and maybe Last

Just noticed that my BT broadband entitles me to watch my first ever Rangers match and possibly the last Rangers match ever on BT Sport or TV of any kind . I’m tempted – just to hear if the Forfar fans come up with any good accountancy songs.

Monday January 20: Forfar v Rangers – 7.45pm, BT Sport 1

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JimBhoyPosted on12:51 pm - Jan 17, 2014


@JLeeHooker Alistair McCoist: “We don’t do walking away”
The Rangers team: “We don’t do docking our pay”
============================================================
LMAO, I hope they are still paying their bills and the cheques are not going bouncy bouncy….!

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JLeeHookerPosted on12:56 pm - Jan 17, 2014


Phil’s got a new article up

Sevco in distress:

http://www.philmacgiollabhain.ie/sevco-in-distress/

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scapaflowPosted on12:56 pm - Jan 17, 2014


It would appear that its not just Rangers fans who don’t get the distinction between RIFC and TRFC, Paul over at CQN doesn’t get it either.

“The club’s creditors will be few and of comparatively low value, nothing like their predecessor club’s £100m debts. ”

Paul, RIFC will not have just gifted the IPO money to TRFC out of the goodness of their hearts.

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JimBhoyPosted on12:57 pm - Jan 17, 2014


@Easyjambo Generic replies to questions as always… I would love to know why an 1120 day review period when severe cuts are needed now, that is plain for all to see regardless of how they dress it up…

I would suggest the answer to the 120 day question is at that moment in time there will just be enough money left to pay off those (handsomely) in blazers and brogues and the rest will be at the mercy of the government to get their minimum redundancy.. The creditor can then battle it out for the next phase of ‘Rangers now’..

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Para HandyPosted on12:57 pm - Jan 17, 2014


Scunnered. A great Scots word that goes some way to describing my reaction to the latest machinations of the footballing authorities and the liquidators.

The difference in punishments between Black and Moffat will hopefully be appealed and the outcome used to show, yet again, how badly the SFA operates.

BDO agreeing to effectively give away £300,000 of which a sizeable proportion should be going into the public purse, to a company that has no legal or moral claim to it trumps everything in my opinion. If this occurred in any other business sector, the outcry would be swift and loud.

Leaving aside how the creditors were stiffed once by D and P, now we see them stiffed a second time by the so called saviours of BDO.

Unfortunately, a letter to my local MP is unlikely to be that effective given that I live in Bedfordshire but I would urge everyone to make as big a noise about this as possible.

I actually feel physically sickened by this.

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essexbeancounterPosted on12:58 pm - Jan 17, 2014


helpmaboab says:

January 17, 2014 at 12:32 pm

Re Neil Patey.
All you CAs out there.Does this man have any credibility in the finance world? I suspect everyone is laughing behind his back.Appears to me he’s just a silly bears comforter.
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Boab…under “normal” commercial circumstances and where common sense prevails, Patey’s firm, Ernst & Young, would normally welcome all the free publicity and exposure.
However, given his track record over the last few months, and the goldfish bowl that is Scotland’s sport and business mentality, I would imagine that the executive committees of E & Y, both UK and worldwide, would want to put a gag on him!
PS here comes another letter from ICAS…!
PPS I seem to remember the same attitude towards D & P at the height of their incompetence(s)

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m.c.f.c.Posted on12:59 pm - Jan 17, 2014


Forfar Fans

What about Simon And Garfunkel:

Slip sliding away, slip sliding away
You know the nearer your destination administration,
the more you slip sliding away

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essexbeancounterPosted on1:02 pm - Jan 17, 2014


Para Handy says:

January 17, 2014 at 12:57 pm

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Scunnered. A great Scots word that goes some way to describing my reaction to the latest machinations of the footballing authorities and the liquidators.
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Para…thank you for the use of that superb Scottish word “Scunnered”.
I can now prove to Mrs Beancounter (she sadly being of the English persuasion!) that not only does it exist in the vocabulary of we Scots, but also the exact nature and context of its use…!

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helpmaboabPosted on1:03 pm - Jan 17, 2014


torrejohnbhoy(@johnbhoy1958) says:
January 17, 2014 at 11:43 am

I think that was a bit of a puff piece John.
Boom boom.

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helpmaboabPosted on1:08 pm - Jan 17, 2014


Forfar Fans
Status Quo- “DOWN DOWN( deeper and down)

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AngusloonPosted on1:13 pm - Jan 17, 2014


The SFA have painted themselves into a corner over their actions & now they have no way out, they can’t hope that they’ll get away with the corruption again ❗ Surely someone has to get them on record & ask to explain themselves over the shambles that they have helped create. The 3 stooges need to be taken to task over their part in the fiasco & then dismissed from office. Again it is us the supporters that will have to push for the dismissal of the snakes on the 6th floor, I’m sure some of the guys on here could come up with what action we can take to get them out, this is where we need to work. Clear the 6th floor & let’s work towards a clean game.

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Galling fiverPosted on1:18 pm - Jan 17, 2014


BDO Jelavic money, is the justification on giving the sell on % based on the football debt % they had to pay. The crazy world of those above the rules, gets more interesting, complex and murky by the day.

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