Good Evening.
When considering any type of protracted negotiation or discussion that seems to be going on too long, there is a story that is always worth remembering– whether it is actually a true story or not as the case may be.
It is said, that heads of state all met at a congress in what is now modern Germany sometime after the Franco Prussian war of 1870-1871.The entire congress was being run almost singlehandedly by the then Prussian Chancellor Otto von Bismark and he was keen to get all the necessary signatures on paper to seal some deal or other.
However, others at the congress were not too keen to sign up to certain elements of the proposed deal and so they hithered and dithered and in the eyes of Bismark they simply waisted time by concentrating on the minutiae- the little matters, with a view to ensuring their own interests were best served in these small areas– and did not focus on the big issue.
Having tried to talk these others round and educate them in his own beliefs and point of view on the bigger picture without any success, Bismark grew weary of the continuing delay and the posturing of his colleagues. All attempts at reason and diplomacy had failed in his eyes and so he decided to take a different tack.
Accordingly, it is said that whilst others were still inside debating endlessly on this matter or that, Bismark left the building and began simply shooting the windows in with the aid of a riffle which he just happened to have handy.
Those inside were naturally alarmed at this turn of events. They soon forgot about the minutiae under debate, they abandoned the previously expressed self interest and simply signed up so that they could get away from the mad chancellor and his house.
Job done so to speak.
Whilst I do not in anyway condone the behaviour of Otto von Bismark in this instance, and have no doubt that he was an autocrat, what I will say is that he believed that there was too much time being spent on the unimportant stuff and not enough time recognising what really needed doing– from his point of view of course.
Today– and it seems every day for months— we have endless debate about the future of Scottish Football. League reconstruction and the redistribution of footballing wealth has become a marathon– even before it has started.
Yet I believe that at the moment all parties concerned are not focusing on the radical reform that is fundamentally needed which is the creation of one, strong, properly structured and constituted body which is capable of the proper and ethical governance of Scottish Football and the business that surrounds football.
No matter what system you try, or distribution you agree, without proper sensible strong governance you are wasting your time.
Further, whatever body is set up, and whoever is chosen to be its CEO (or whatever the head honcho is going to be called), they must tackle the issue of corporate and fiscal compliance and the proper administration of any body corporate which actively takes part in Scottish Football– and that includes any such body or person who is involved in the running of a member club.
In addition, in so dealing with any corporate malfeasance or chicanery or whatever, the rules have to be applied with a rod of iron by an iron body.
As we can now clearly see, Football clubs and football in general is not, and never will be, immune from the effects of bad corporate governance and on occasion downright manipulation of facts, figures and contracts.
Whilst great play has been made of the fact that Gavin Masterton has handed over his shares in Dunfermline FC ( or its holding company ) the fact of the matter is that this in no way solves the problem faced by the football club. Whoever gains control of that club will still have to rent the ground from Mr Masterton’s company– and it is a rent that the club may just not be able to afford.
Ever!
It is only my opinion of course, but I am of the view that Mr Masterton has sealed a loan deal with his bankers which is of a type and duration which could not normally be achieved by other borrowers. The Loan has a lengthy period during which no repayments are necessary and interest can continue to accrue.
All very good you may say, but the level of debt concerned is not one that appears to be sustainable by Dunfermline FC and so whoever buys the club as a going concern ( if anyone buys it at all ) will have to pay an agreed rental to Gavin Masterton– and if the rental is not sufficient to repay Mr Masterton’s lenders, then I suspect that the end game here will be a search to find a buyer for the ground at some point over the next twenty years or so, with the hope that as part of the deal a space will be found somewhere for a new ground like New St Mirren park– the difference being that in that instance St Mirren were in charge of their future whereas Dunfermline are not.
The Governance of that club and the financial arrangements behind the club should have been looked at and examined by the SFA long before now– and the Dunfermline fans warned about the dangers of any such arrangements. Effectively those finance arrangements, should they continue, will probably mean that the club will have no option but to move from its established home!
All to suit one man!
Thankfully Dundee were spared a full takeover by Giovanni Di Stefano, however is it not a bit worrying that this man who has been jailed for over 14 years for various fraudulent acts, was allowed to roam around Scottish Football for a prolonged period?
Not so long ago Di Stefano did play a part at Dens, was in line to buy almost 30% of the shareholding, and was oft quoted in the papers and so on. The thing is that there were those who were prepared to give him a place at the Dundee table and in so doing invited him into Scottish Football.
Surely the SFA, had they been inclined to, could quite easily have pointed out that many of the claims of Mr Di Stefano were at least dubious if not completely incorrect? Yet nothing was being said at the time and silence prevailed.
Whilst not in the same calibre as Di Dtefano, Vladimir Romanov has now been at Hearts for a prolonged period. While I have no quibbles about the legality of Romanov’s takeover of Hearts, any money of a sizeable size which is transferred into Scotland from a foreign country will be subject to scrutiny by the Crown office to ensure that it is clean. Lithuania in particular is said to have a banking system which is governed loosely and sometimes does not meet the compliance standards expected in this country.
With his bank having gone bust, Romanov still retains the majority shareholding at Tynecastle, but there are questions still to be answered about what has happened at Hearts but life will be very different for the Edinburgh club going forward.
Again– could the SFA have done more to monitor the situation and could they have demanded clarity and detail from the Hearts owner as to his business dealings and the detailed arrangements with his bank?
At Ibrox, well things just go from the weird and inexplicable to downright astonishing– and all through a tremendous amount of smoke and mirrors.
It is clear that the SFA have no idea what to believe from Charles Green or for that matter Craig Whyte. On the face of it, there are clear links between Whyte and Green with the former paying over a six figure sum in return for absolutely nothing it would appear– with similar transactions going between Whyte’s colleague, Aiden Early, and Charles Green.
What is clear is that Green gave a clear undertaking to the SFA that he had nothing whatsoever to do with Whyte and would have nothing to do with Whyte going forward. Now, at the very least he is admitting that he met Whyte on several occasions, and whilst he may have made representations to Craig Whyte— these were all lies designed only to get Whyte to where Green wanted him.
This is hardly the act of someone who has been bona fides in his business dealings either with Whyte or with the SFA as the licensing body.
It is against this background that the Scottish Football Agencies need to wake up before they find the fans of the game ( at least those who want to stay interested in the game ) doing a Bismarck and panning in the windows of this whole house of cards.
Football Clubs, football fans, and indeed football itself needs protected from the financial and corporate shenanigans, and the governing body must be much more active and permanently vigilant in watching out for and if necessary anticipating the people and the transactions which have and will jeopardise clubs and the game in general going forward.
It is clearly no longer acceptable to rely on self regulation or mere declarations and undertakings from the clubs themselves. The Administrators must be much more active and employ far greater professional expertise in carrying out an almost constant analytical and reporting function in relation to club finance and corporate regulation.
All and any changes in funding, boardroom changes, investor changes and anything else major should be the subject of immediate and proper scrutiny by the SFA and there should be fair, immediate and stiff sanctions for non compliance, and any type of dilatory behaviour on the part of club officials who would seek to conceal the truth or who fail to properly disclose vital matters which should be out in the open.
Further, the funding detail– such as the never ending loan re Dunfermline should be a matter of public record in all its detail so that fans and investors can make information based value judgements when dealing with any club.
Such stiffer regulation should not develop into anything like a corporate witch hunt or any kind of draconian big brother syndrome, however the need for change given all of the current troubles is obvious to one and all.
Further, the attempted fudge surrounding Rangers league status last summer and the ongoing disquiet surrounding the position of Campbell Ogilvie does nothing to boost faith in and the reputation of Football Administration in Scotland.
Things are far from clear and there appears to be continual dithering and fudging. No one has any idea where the Nimmo Smith Report has gone nor what import it is to have— if any. Why is that?
Dithering and bumbling over detail is no longer an option. Strong clear governance is required to protect the game from being hijacked by those who have their own corporate and financial agendas.
Such people cannot be allowed to determine the way Scottish Football runs or to conduct themselves in a fashion that leaves football and everyone involved in limbo.
It is time for Scottish Football to find its own Iron Chancellor! There is a need for someone who will, if necessary, come along and shoot the lights out of any club or Company Director who wishes to play fast and loose with the game of football.
The CE says:
Saturday, April 27, 2013 at 00:10
Oh dear.
Getting deja vu!
c.f.
http://www.thescottishsun.co.uk/scotsol/homepage/sport/leaguedivision3/4903567/Im-glad-Greens-left-club.html
To summarise (again), James Traynor.. I mean Andy Goram,no… Ally McCoist (this time) says, ‘its OK, we gave some of those nasty spivs some of your money and now they have gone away pockets jangling. But the good guys won and what we really need now is the Rangers fans to pony up… because they are the best fans in the world… and there’s no way we can win SFL2 with erm… the second highest paid squad is scotish football…
More money = less spiv, and all will be dandy, comprendez?
It doesn’t matter how many times you place this rubbish in the compliant media, its still pathetic.
Jeez… Clearly bears milk is the new designer drink of yer spiv about town? How much more can they try and squeeze out of the Edmiston herd before its burger time?
If Rangers fans reaaly were such dumb animals, there’d be people with long hair & personal hygiene problems camped out in Govan to protest over their welfare & treatment by now!
Stop, I can’t watch anymore!
justshatered, it’s possible, but a combination of fans, us bampots, (same thing I know) and men like Sir Turnbull of Hutton should help prevent it
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Seriously though, Turnbull should be Knighted. He is the one person that the majority of posters on here would back. Thumbs up if you agree.
something that occurs to me in the midst of all this talk of admin/liquidation mk 2….
When rangers were issued their license last july, in absentia of 3 yrs audited accounts, surely they had to submit a business plan for the upcoming financial year to the SFA as grounds for waiving the 3yrs accounts. In this business plan must have been a financial model/projection for the coming season(s).
As it now appears that rangers are going to make a massive loss this season (and that this loss was anticipated in the bussiness plan submitted as part of their license application), and probably the next couple of seasons, the owners of Rangers MUST have given assurances of an injection of operating capital to sustain this loss. This cash was to come from the IPO and AIM flotation. The owners must have had at that point (july 2012) guarantees in place that the IPO would cross a minimum threshold of success that would enable the club to see out all it’s fixtures for the season.
Now, If I had personally been involved in the five way agreement negotiations, I would have demanded a clause that allowed the Signatories access to rangers accounts at certain milestones to ensure that rangers actual finances were adhering to the financial projections to ensure that they would be certain that rangers would not go bust mid season. To do otherwise would be hugely irresponsible.Also I would include a clause that for a probationary period (let’s say three years) that rangers license would be subject to certain financial regulation, for example, strict monitoring to ensure financial stability.
If these points were not built into the conditions for the license, did they grant a license to an institution uncertain of whether they would be able to fulfill their fixtures for the year?
As we are now at the end of the first season, where their license could be up for review, can they now display a revised model for the next year that ensures that they will be able to fulfill all the fixtures of the next footballing season….
As I mused the other night, if there was even a smattering of truth in the IamRangers rumours, then they were dynamite, and with the imminent departure of IA, it seems so.
Which make IA’s contributions on RM all the more enlightening;
– Walter has been screaming for Bain! 😯
– I believe he(IA) controls 40-50% of the club directly and indirectly, most of the initial investors are his guys.
– a few large overseas investors want out asap due to MM/WS not cutting costs at MP by 5mil..
– Wages-
Sally – £16k a week
Elbows, Alexander and Wallace – £15k a week
Tempelton, Black, Cribari, Faure, Little, Sheils, Sandanza, – £7-10k a week.
IamRangers account was created when Our Hero was Chairman of RFC.
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You can see how the losses will rack up quickly if these figures are even close to correct.
The CE says:
Saturday, April 27, 2013 at 00:26
Will one of the Succulent Lamb brigade ever ask AMcC if he thinks £750k p/a is a justifiable salary for a SFL manager?
Come on Ally, instead of asking the fans to dig deep(again) to pay over inflated wages such as your own, why don’t you show us this love for the club that you keep banging on about and offer to take a realistic wage that reflects both yours and TRFC standing.
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It is a few bob that much is true. Was it split in the comtract as to £150K for the managers PISH and the rest as hush money and Uncle Wattie will hold your hand and talk you through it. I can’t help but wonder.
jerfeelgood says:
Saturday, April 27, 2013 at 00:57
We’ve been so stupid. Thinking about this all the wrong way: Racking my brains and I think I have worked it out:
The SFA/SFL next unbelievably pro TRFC move will be: (drum roll…)
A timely renegotiation of TV right massively in favour of TRFC. Cash up front, weighted towards Edmiston. Spivs get a pay, TRFC get a leg up.
Will probably rearrange also half the SPL fixtures to – I dunno – a Tuesday afternoon as well ‘to suit the telly?’ (i.e. kill off any support for other clubs that might try and fill TRFC shoes as they sidle back up the leagues!)
I mean… stranger things have already happened after all!
The CE says:
Saturday, April 27, 2013 at 01:21
You can see how the losses will rack up quickly if these figures are even close to correct.
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Including NI I calculated about £8.2M for player wages. But that doesn’t explain the £1M a month loss in full.
jerfeelgood says:
Saturday, April 27, 2013 at 00:57
something that occurs to me in the midst of all this talk of admin/liquidation mk 2….
When rangers were issued their license last july, in absentia of 3 yrs audited accounts, surely they had to submit a business plan for the upcoming financial year to the SFA as grounds for waiving the 3yrs accounts. In this business plan must have been a financial model/projection for the coming season(s).
As it now appears that rangers are going to make a massive loss this season (and that this loss was anticipated in the bussiness plan submitted as part of their license application), and probably the next couple of seasons, the owners of Rangers MUST have given assurances of an injection of operating capital to sustain this loss. This cash was to come from the IPO and AIM flotation. The owners must have had at that point (july 2012) guarantees in place that the IPO would cross a minimum threshold of success that would enable the club to see out all it’s fixtures for the season.
Now, If I had personally been involved in the five way agreement negotiations, I would have demanded a clause that allowed the Signatories access to rangers accounts at certain milestones to ensure that rangers actual finances were adhering to the financial projections to ensure that they would be certain that rangers would not go bust mid season. To do otherwise would be hugely irresponsible.Also I would include a clause that for a probationary period (let’s say three years) that rangers license would be subject to certain financial regulation, for example, strict monitoring to ensure financial stability.
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Have you any idea how ridiculous that sounds? Monitoring of Rangers financial position FFS!. Mate it hasn’t happened for 25 years. Spiv bankers didn’t and the neo spivs are not likely to either.
bogsdollox says:
Saturday, April 27, 2013 at 01:37
Have you any idea how ridiculous that sounds? Monitoring of Rangers financial position FFS!. Mate it hasn’t happened for 25 years. Spiv bankers didn’t and the neo spivs are not likely to either.
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One could also argue that a rangers like incident hasn’t happened in the last 25 yrs either (in scotland at least).
Another thought, Upon the purchasing of a season book for a club, rational thought would be that the customer/fan is entering into a good faith agreement/contract with the retailer/club for the provision of a set number of league fixtures. That in order for that good faith to be honest on the retailers side, they must make a conscious and deliberate effort to provide the product.
Now if the club were to take money in the form of season books, then pay out a dividend in the full knowledge that such a payout could jeopardize the provision of contracted services (the fixtures), and then fail to deliver the goods as a result, could a season book holder sue the board for breach of contract if it were to go into administration/liquidation and be unable to fulfill it’s fixtures. As a result of this line of thinking, would the sale of season books without a firm financial model in place to provide all of the fixtures not also be a breach of contract? (by this I mean is it legal to sell goods you don’t yet possess, without a clearly documented plan as to how you intend to provide the services or goods that you’re selling?)
On the booze issue ,here in oz I’ve been to few afl games although i prefer to call it soap ball but will admit there is a fair amount of skill involved.most fans have a few beers in the pubs close to the ground before and then have a couple of the mid strength or light beers during as that’s what’s available if your not in the corporate sections. if your driving or taking the kids a couple of the light or midstrenghths isn’t a big sacrifice as they aren’t that bad and don’t taste like c&libre. If you’re a member (season ticket) here you can get free train travel to the ground sport is seen as a big day out to be promoted and enjoyed by families listening to the attitudes of the likes of les grey is depressing,sure football has its problems and unlike afl opposing fans may never sit together but scottish football should always be looking for its own way forward it just doesn’t have the correct leadership with any forward thinking at the moment, when you can appoint Gordon smith to any post your going about it the wrong way.
Bearing in mind this season’s song book, threats for anyone referring to The Rangers or Sevco franchise etc…
McCoist comes out now with following quote;
“You just hope perhaps in this day and age there is a chance we can all move forward and behave a little bit better.”
Has he suddenly realised he has a responsibility to drag TRFC fans into the 21st century?
Erm… not quite…
http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/rangers/4905250/Ally-McCoist-Bevvy-at-game-I-could-do-with-an-optic-in-the-Ibrox-dugout.html
Danish Pastry@ 21.27
As long as they don’t start selling yon Sevcopops. Drink that stuff and you start thinking you are a big noise.Then there’s the loss of memory,then the denial……..
If Sevco go into administration, would it then fall upon Lord Hodge to appoint a creditor?
I am assuming at this point HMRC are not a creditor of Sevco.
However, HMRC remain a creditor of RFC Ltd (in Liquidation) – would administration trigger / force BDO’s hand to ask a Court to declare that Sevco is a phoenix company of RFC Ltd (in Liquidation) – to protect HMRC as the main creditor in that regard?
The position appears to be that they need someone, or a group of like minded individuals/investors to come in and take over an ailing business, sounds familiar doesn’t it. However last year’s “group” managed to get their deal done for somewhere in the region of £5.5mil and now we find that to remove all traces of them and start again will cost many times that amount.
My question is that if the real supporters with wealth, who undoubtedly exist, balked at the deal available last year, why would they commit to spending a significant amount more now,
especially when it is unclear what they would actually be getting for their money?
Glenn Gibbons: Worries rocking Rangers supporters
Published on 27/04/2013 00:00
RANGERS supporters these days must open the papers and tune into television and radio news programmes with the kind of dread with which the wives and mothers of wartime soldiers would scan the latest casualty lists.
Deepening the anguish will be the bafflement that comes from a narrative with so many strands, springing from seemingly endless sources, including Ibrox itself. If there was dismay, for example, over the revelation that the club was mounting an investigative operation that could cost them exorbitant fees they can ill afford, it will have turned to shock and depression with the discovery that the Worthington Group have reported Rangers’ outgoing chief executive, Charles Green, to the Serious Fraud Office.
Each new potential calamity seems to be followed immediately by words from one representative or another from the beleaguered organisation that are aimed at denial and re-assurance. In the race for plausibility, the bad news so far has a seemingly unassailable lead.
On the day the press ran the story of Green’s latest headline grabber, for instance, his temporary successor, Craig Mather, was afforded a wide spread of column inches to offer rhetoric which was, presumably, an attempt at calming fevered brows among understandably anxious fans.
Mather revealed that he and Walter Smith would smooth the troubled waters between Rangers and the Scottish FA and the Scottish Premier League, as if the very mention of the former manager’s name – he is now, of course, a non-executive director – would be enough to effect instant rapprochement.
It is an admirable ambition, but it takes no account of an alarming – and, with the allegations made against Green, now very real – possibility: should the national association find that Rangers’ associate membership – that is to say, their licence to play football – was obtained under false pretences last year, they could decide that it should be revoked, rendering Mather’s and Smith’s good intentions meaningless.
When the club chairman, Malcolm Murray, finally made an entry into the public debating of the issues affecting his business, his supposed quashing of rumours of financial uncertainty at Rangers was a pathetically feeble apologia. It had been widely gossiped, for example, that Murray had yet to see the bank statement showing the £20 million that Green insisted had accrued from the share issue four months ago.
“The speculation that we’re not in great financial health… we raised £22.5 million in December and I can assure you it has not all been spent,” he said. “We are in pretty good financial shape. Cash is king and there are very few football clubs that have cash on the balance sheet.”
Supporters would surely have been more gratified to learn that the cash was not simply on the balance sheet, but in the club’s bank account. Or even that Rangers were actually one of the ‘very few’. This is nowhere made clear. Nor did Murray even address, far less disprove the claim that he has yet to see evidence of the funds.
For those followers impatient for a satisfactory conclusion to the mayhem of the past two years, frustration seems much more likely than fulfilment. The range and complexity of the troubles affecting their club amount to a guarantee of protracted probing. What should have become clear, however, is that – unwilling as many may be to admit it – the most reliable owner/chief executive they could have would be a Fergus McCann figure. That is, an entrepreneur whose sound business practices would be reinforced by the fact that he or she would be on the premises looking after his or her own money.
I am still intrigued as to which 3 SPL clubs contribute to this blog…attempting to shape opinion?
If you are watching…it’s truth and honesty we are after…that doesn’t need shaping!
ALLY McCOIST last night admitted Rangers fans would be right to snub new season tickets unless the crisis currently engulfing the club is fixed.
http://www.eveningtimes.co.uk/rangers/ally-fears-season-ticket-snub-122575n.20926479
Lord Wobbly says:
Saturday, April 27, 2013 at 09:09
ALLY McCOIST last night admitted Rangers fans would be right to snub new season tickets unless the crisis currently engulfing the club is fixed.
http://www.eveningtimes.co.uk/rangers/ally-fears-season-ticket-snub-122575n.20926479
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Och well just cut him on a ST sales commission and give him another 1 million shares @ 1p each and I’m sure he’ll change his tune at a pivotal moment.
And then when more cash has to be raised through AIM to keep things afloat then another bonus and more shares – it’s all so predictable.
myohmy1 says:
Saturday, April 27, 2013 at 06:27
25 0 Rate This
Danish Pastry@ 21.27
As long as they don’t start selling yon Sevcopops. Drink that stuff and you start thinking you are a big noise.Then there’s the loss of memory,then the denial……..
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Which ones do you mean? I heard there are two varieties of Sevcopops and that there’s a naming dispute between the manufacturers.
Bogsdollox & Hirsute Pursuit
Unsustainable costs, check.
Runaway train, check.
Plan to resolve? Er…um…ah…oh look a squirrel.
Glenn Gibbons makes a stab, well more a gentle prod, at the cash issue. However, its not about how much of the IPO cash is available. That merely delays the train wreck.
The issue is simple. Rangers spend much more than they earn. Season ticket & sponsorship cash isn’t enough.
There is no benefactor, willing or otherwise who is going to throw money in to plug the gap.
Journalists,
If you really, really like lamb, you need to ask how it is going to be paid for, next season and the seasons thereafter.
If you don’t, very soon there wont be any being served at all and then you have to face the fact that your editors and producers wont need so many of you.
You really have to thank TRFC, internet bampots and journalists, united at last!
Lord Wobbly says:
Saturday, April 27, 2013 at 09:09
ALLY McCOIST last night admitted Rangers fans would be right to snub new season tickets unless the crisis currently engulfing the club is fixed.
http://www.eveningtimes.co.uk/rangers/ally-fears-season-ticket-snub-122575n.20926479
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That is simply Ally showing all involved just who exactly can control the bears season ticket money.
Pure posturing, and the bears for the lack of a proper leader are lapping it up!
Soup of the day – ‘Campbell’s Govan Vegetable’. (Source:NI)
How to make soup from foul smelling, rotten vegetables.
How to make Next ‘Gers fit for public consumption ?
Campbell’s the head chef.
Probably better to just dump Campbell’s.
And go for Baxter’s instead – made from the finest ingredients!
And grown in Scotland.
Aye!
Good Morning,
There was a very interesting post here last night which mooted the treatment of and the potential future for Dunfermline Football Club.
The thrust of the whole piece– at least as far as I can see– was whether or not the rules of the Scottish Football Association and the Scottish Football League would be applied in the case of “wee” Dunfermline when they were not so applied in the case of the insolvency of Rangers FC.
A fair enough point, but in assessing where we are with Scottish Football may I dare to suggest that it is not the best point.
The fact of the matter is that by attempting to shoehorn a mortally wounded Rangers Football Club back into the higher echelons of Scottish Football last year, the executives and others involved in Scottish Football sent out a clear message that in certain cases rules don’t matter– or at least the actual observance of rules don’t matter– especially when it suits some people.
Forgetting, for a moment, whether any of the arguments propagated by anyone in support of Rangers being any type of special case, the entire situation and suggestion has of course sent a message– a message that has clearly been picked up by Mr Gavin Masterton.
Mr Masterton ,as we know, has been responsible for the shambolic governance of Dunfermline for a number of years– and the shambles has been extended and allowed whilst he continued to have a personal interest in ensuring Dunfermline play at the stadium which he owns and which he continues to supposedly pay for on the never never with his by now infamous bank loan.
Now this loan– its existence, its term, its conditions and its fulfilment– must have been known about by people other than Mr Masterton. The board of Directors at Dunfermline must have known whether they were paying rent or not, and they must also have been able to determine whether that rent was too high or whatever.
In any event, Bryan Jackson is now in as Administrator and no doubt he will continue to liaise with the biggest creditor– the one who will call the shots— the very same Mr Masterton.
Some may recall a story which appeared a few months ago which suggested that Mr Masterton had somehow managed to transfer a sum of money -£400k I believe— from another company into Dunfermline FC– only to find that he was not authorised to do so and was forced to send the money back to the company on the orders of the companies Principal— Brian Souter—- who then promptly got rid of Mr Masterton from that companies board.
Not long after, I believe many of the Directors at Dunfermline FC took a good look at the situation and resigned.
No doubt, they still loved their club, still wanted to play a part, still wanted to ensure a future for the club— but decided that they could no longer tolerate the way the club was being run and so they walked the walk.
I don’t think the existing company at Dunfermline can be saved– I hope I am wrong— but even if it can, so long as the club remain in their existing ground they will have to pay GM– and behind the scenes many will not like that at all.
However, the point here is that Directors– both executive and non executive– are obliged to exercise their judgement on businesses, business practices and indeed business people. Sometimes you just have to choose not to do business with someone simply because of either their existing track record or because you do not like the way they have done business in the past.
It is in that vein I absolutely question why there is this clamour for people who support the team at Ibrox to rally behind Rangers men like Walter Smith?
Let me be quite clear. I have never met Walter Smith and know nothing about him other than his football record. He is a husband, a father, a grandfather and many other things worthy of admiration.
However, with the greatest respect to Walter Smith his footballing credentials have in the main been achieved on the back of a football administration which is now wholly discredited and which clearly followed business and footballing practices which where financially disastrous for the Ibrox club and which were predicated on business decisions which rendered the club impotent to prevent full scale corporate collapse!
At no time during the EBT years or the years when Rangers PLC were amassing massive losses year on year do I recall Walter Smith coming out and advising that everyone at Ibrox should be wary of the policies being followed as they might lead to disaster?
If anything Smith was part of the regime, was a highly paid member of the management who did not rock the boat at any time.
Now he is still there— collecting a fee, being paid a salary, by people that he does not know and who he would appear to have every reason not to trust in anything that they say. Yet we hear and see nothing from the Executive Director who is mentioned in persistent reverential terms.
John Brown may be a blunt sword, but he struck fast and true when he packed his bags and walked out on the current Ibrox administration citing them as being chancers and charletons who did not have the interests of Rangers at heart.
He had the courage of his convictions and as I say walked the walk– and then talked the talk— for which he was ridiculed in the media house compliant press.
Walter Smith’s education was in boot rooms, training pitches, dressing rooms and so on– he is not equipped for board rooms where the topic is not so much football but enquiry after enquiry, stock exchange practices and compliance, professional due diligence and the detail of directors duties and so on.
He is a football man– plain and simple— and right now Rangers are barely about football at all.
Back at Dunfermline– good honest people woke up and saw the colour of the cloth worn by some who supposedly had the well being of the club at heart and did the only thing that they could– they very publicly walked out the door.
There is a lesson there for all in football. Walk out on the
bad guys and force them to bugger off!
For Good!
Sugar Daddy says:
Saturday, April 27, 2013 at 09:37
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Bogsdollox & Hirsute Pursuit
Unsustainable costs, check.
Runaway train, check.
Plan to resolve? Er…um…ah…oh look a squirrel
———————————————–
Just for me, could someone please explain the squirrel thing? I think I get it, but where did it come from? thanks in advance.
ecobhoy says:
Saturday, April 27, 2013 at 09:19
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Lord Wobbly says:
Saturday, April 27, 2013 at 09:09
ALLY McCOIST last night admitted Rangers fans would be right to snub new season tickets unless the crisis currently engulfing the club is fixed.
http://www.eveningtimes.co.uk/rangers/ally-fears-season-ticket-snub-122575n.20926479
—————————————————————————————————————————
Och well just cut him on a ST sales commission and give him another 1 million shares @ 1p each and I’m sure he’ll change his tune at a pivotal moment.
And then when more cash has to be raised through AIM to keep things afloat then another bonus and more shares – it’s all so predictable.
////////////////////////////////////////////////////////////////////////////////////
Just think about, when you take the average ticket price including concessions for kids, ops, families etc. less the Vat then we have somewhere around 200 quid a pop?
This mean 3800 season tickets that were sold were just to pay Allys wages, thats 11% of the entire season ticket money just to pay one man to do a job that any young new manager could have done.
When you add in another 10% each for Mculloch, Wallace and Alexander we are at 41% of S.T. money for 4 guys.
Tempelton, Black, Cribari, Faure, Little, Sheils, Sandanza,Durrant and Mcdowall at £7-10k a week. thats 9 guys an average of say 8k a week is 3.6 million a years or about another 50% of the season ticket money.
Over 90% of S.T. income spent on 10 players and 3 staff.!
Arabest
Maybe it is like this.
A now deceased friend of mine– a Rangers fan to boot— was once talking about a building in Glasgow– a well known and on the face of it highly desirable building which was for sale.
As buildings were his business he looked at the possibilities the building afforded— rents, increases in value, income streams and so on– against the cost of maintenance, upkeep, rates, running costs and so on.
Then he came out with his conclusions which were— that if you were given this building for nothing it would still be too dear. Financially– with the existing tenants and the rents being paid it would not work at all.
Further, to get increased rents, you would have to carry out massive rebuilding and improvements in comparison to the current condition of the building– and to do that you would need to borrow money. The banks, he said, would not lend on that basis– and if the bank won’t lend than it is hard to see why anyone else should or would take the risk.
Even if they did lend, it is hard to see how you could recoup the costs of all that as the new rent– although higher– would still not meet the day to day costs.
Accordingly, the only way to get the money back would be to sell it many years in the future when hopefully prices have risen.
Accordingly, the building was not for him!
Rangers have not made any money in something like 14- 15 years when you strip out all the shenanigans from the accounts and there is no business model on view or even business savvy on show at Ibrox which would suggest that they can make any money in the near future.
So– allowing for everything to settle down— where will they be financially in say 24 or 36 months time?
The suggestion is— completely skint!
HirsutePursuit says:
Saturday, April 27, 2013 at 00:17
“…My best bet would be that there will be a new club called “Glasgow Blues FC” (or something similar) playing in SFL3 and ground sharing with Partick Thistle or Queens Park next season.
That new new club – like the old new club – may be given membership of the SFL & SFA; but will not be around at the time of year when Club Licences are handed out.”
___________________
I appreciate the dialogue HP. Although I have for some time taken an interest in these proceedings their intracacy is sometimes/often arcane unless studied in great detail.
Could you explain please why you differentiate between the SFL/SFA membership and the club licence and also elucidate concerning the chronology of these events alluded to.
What circumstances lead you to believe that the club “will not be around”. There are many circumstances in play and I am interested to see what you feel are the critical one’s.
What if ?…..The only reason CG,IA and the sevco cabal were there was to get Ticketus their money back .
What if ?……This was in CWs interests as well as the above
Would this involve both working together in some way ?…….(see Sun tapes )
Ticketus handed over £24m to a struggling Scottish football club at a time were any investment in our game was harder to get than ever before and as for serious investment in clubs , well , what can I say .
When the knight offloaded the old cart horse for £1 there was only ever going to be one group of peepil who were going cough up to keep the old gal out to pasture till she she ended up on our supermarket shelves and that was the FANS .
There are a few ways of relieving the fans of their money and STs are top of the list (Ticketus deal) then we have share issues (CG ,IA cabal) and another is merchandise ( Ashley deal ,have we been told the full details of the shirt deal yet ?)
IMO the CW/Ticketus deal fell apart sooner than expected due to Sally’s failure to get his team past even the simplest of Euro opponents ,leading to funds running out and CW having to use PAYE/NIC cash to get the old club to the end of last season .As soon as it came out that CW had used Ticketus (fans future ST money ) to buy the club he knew no future ST money would be forthcoming .What to do ,Hmmmmmm ,what about …….
Share money….What if we you could claw back a fair chunk of money owed from a share issue (fans money again) .if I remember correctly CG was looking for £10m from this source ,he got £5.5m (popular amount in this saga ) so he is £4.5m almost 50% short ,could it be that if the £10m figure had been achieved would that have been enough for Ticketus or did it mean they they and (CG/IA ) had to hang around a little longer (next round of ST money ) .
I believe there were over 200 creditors left out of pocket by the dead club of which Ticketus and HMRC were owed most but there was also another who felt he was owed plenty and funnily enough his name cropped up again this week ,a certain Mr DK ,now the last time I heard DKs name was when he had successfully applied to the SFA to be cleared as a fit and proper person (stop laughing at the back ) to run a football club ,now why would he do that I wondered and that brings me back to what if ?…what if ?……
DK was not willing to just write of his alleged £20m investment in the old dead club and what if?
DK has the title deeds of Ibrokes and Murky park tucked up snugly in his office safe ,could he get his £20m investment back by say ,charging any new company for the use of these facilities ,maybees aye ,maybees naw .I really don’t know and all the above is simply my opinions and feeble attempt to make some sense of it all .
So in summary my opinion is
That far from being free of debt and having started afresh on building a strong future for the new club TRFC. The fans of TRFC are still forking out their hard earned cash to settle the historical debts of the old dead club and these will have to be settled to certain creditors before the new club can even begin to look at a fresh start
I think we all might be a tad hasty on the demise of sevco 2012 ,just listened to sally on next season and he says that with a decent run in the champions league next season this will help offset the drain on finances and at worst if they have to drop down a tournament to the europa it will still bring in much needed income .
The above is an example of what can happen if you introduce booze into the game
You have all been warned
On the subject of swally at the game, I am in the fortunate position to have access to a lounge at Celtic Park where alcohol is available. I regularly enjoy a pint or two before the match, as do many others. It is also good to meet the boys after the match, have a pint and discuss the latest coupon disasters.
In my opinion it would not be difficult to install similar facilities around CP. Drinks could be served at multiple outlets, bars closed during play, no alcohol in seated areas, all very controlled.
I have never observed any drunken behaviour at any ground with bar facilities in Scotland and I have been in most of them.
If people are treated with a basic respect (the right to enjoy a beer at the game) and trust (don’t get drunk) it is my feeling that this would be reciprocated. Sure, the odd rocket may over indulge but proper stewarding could prevent this. From the club perspective, the whole exercise could be a welcome additional income stream.
I would not advocate the industrial sized carry outs of days gone by but a beer at the game should be part of the football day for all.
Brogan Rogan Trevino and Hogan says:
Saturday, April 27, 2013 at 09:57
40 0 Rate This
——–
And Smith’s continued presence must be as good as a certificate of approval or a stamp of authenticity on the chairman and board, in the eyes of many fans at least. If Brown could do the right thing it makes WS on-going involvment all the more damning, even more so if there’s a new collapse on the horizon as some are predicting.
The phrase “oh look a squirrel” was first used by a regular poster on RTC (Hugh McKewan iirc)
to describe the diversionary tactics being employed by Whyte/MSM.
It has now gone down in internet folklore
In other news from todays DR ,it seems that Mr Whyte is having his castle repo’d for non payment of his mortgage. I remember mentioning in the early days that owning a castle was no pointer to being wealthy when Craigy was being championed as a billionaire as in 2006 a “squirrel” could have got a mortgage . As it transpires Craig “Tufty” Whyte had taken out a
110% loan using the self certified income proof scam so beloved by those intent on driving the housing bubble of the day .
timtim says:
Saturday, April 27, 2013 at 11:11
1 0 Rate This
The phrase “oh look a squirrel” was first used by a regular poster on RTC (Hugh McKewan iirc)
to describe the diversionary tactics being employed by Whyte/MSM.
It has now gone down in internet folklore
In other news from todays DR ,it seems that Mr Whyte is having his castle repo’d for non payment of his mortgage. I remember mentioning in the early days that owning a castle was no pointer to being wealthy when Craigy was being championed as a billionaire as in 2006 a “squirrel” could have got a mortgage . As it transpires Craig “Tufty” Whyte had taken out a
110% loan using the self certified income proof scam so beloved by those intent on driving the housing bubble of the day .
==============================
I think Hugh “borrowed” it from Homer Simpson.
I’d also like to add that it was extremely funny when it was used on RTC by Hugh
BRTH
Agreed, but what is driving their behaviour, it is clearly not rational.
This brings into play either greed or jealousy , as both of these would negate sensible behaviour from otherwise sensible businessmen.
I suspect Murray got caught up in that ego thing, where he is untouchable and forgot about the business cycle no matter how long it takes to pull through, Whyte and Green just plain greed.
Still my assumption is that Ibrox is grossly over-manned with lucrative deals paid out to the brothers and therefore their own cultural leanings , together with greed and jealously will continue to pull them down.
12 months absolutely maximum before cash runs out , however would anyone be that surprised if Charles and his Asian friend had not Madoff with a sizeable chunk of the IPO for the investors, which would hasten their demise to round about the Summer.
timtim says:
Saturday, April 27, 2013 at 11:11
1 0 Rate This
In other news from todays DR ,it seems that Mr Whyte is having his castle repo’d for non payment of his mortgage. I remember mentioning in the early days that owning a castle was no pointer to being wealthy when Craigy was being championed as a billionaire as in 2006 a “squirrel” could have got a mortgage . As it transpires Craig “Tufty” Whyte had taken out a
110% loan using the self certified income proof scam so beloved by those intent on driving the housing bubble of the day .
——–
This line from the DR article was a shocker:
“He quit Ibrox and the club’s owners were liquidated.”
It’s beginning to sound like a gangster movie!
Danish Pastry says:
timtim says:
Saturday, April 27, 2013 at 11:11
1 0 Rate This
In other news from todays DR ,it seems that Mr Whyte is having his castle repo’d for non payment of his mortgage. I remember mentioning in the early days that owning a castle was no pointer to being wealthy when Craigy was being championed as a billionaire as in 2006 a “squirrel” could have got a mortgage . As it transpires Craig “Tufty” Whyte had taken out a
110% loan using the self certified income proof scam so beloved by those intent on driving the housing bubble of the day .
——–
This line from the DR article was a shocker:
“He quit Ibrox and the club’s owners were liquidated.”
It’s beginning to sound like a gangster movie!
===================================================
DP,
IIRC,
The clubs owners were “The Rangers Football Club Group Ltd”,Wavetower to all on here.They are still,as far as I know,alive if not exactly kicking.
This being the case,it beggars the question;
Who is being liquidated?.
I think the “oh look, a squirrel” came from a Simpsons episode where Homer uses this a diversionary tactic to get out of a lecture by Marge. She looks away for a second and when she looks back, he has is not there…. I could be wrong but the principal is the same.
Alison Robbie @AlisonRobbie 25m
#rangers director Imran Ahmed has left the club. I understand the club decided enough was enough.
Alasdair Lamont @BBCAlLamont 10m
Asked about money from Rangers share issue, C Mather says ‘it’s still there’, adding club’s heading in right direction
arabest1 says:
Damn, those squirrels are good…
strange !
when Charles was asked by STV he said there was less than £20m but more than £10m
Mather is implying that the whole £22m is still there
Who brought Mather on board ?
It was’nt Charles Green was it ?
Good day from a grey and drizzly Catalunya. Definitely a day for lunch somewhere cosy , with some nice grilled fillet and red wine. The white wine and Dorada will have to wait until the sun returns
Kenny Shiels, now there is a guy who knows how to draw attention to himself. I have to admit to enjoying his contribution to our national game.
There is no question he works extremely hard, and equally no doubt his football philosophy is worthy of praise.
He does however appear to be addicted to publicity. That is not a unique trait. There is barely a day goes by without us being subjected to the latest drama involving some z list soap actress , who’s only talent appears to be an ability to disrobe automatically the minute a professional grade Pentax opens its shutter lens
Equally egotists like Michelle Mone , who has a business worth a tiny fraction of the amount she constantly mouths off about, leave no stone unturned when it comes to securing a column inch
So Kenny isn’t unique, but what’s his motivation ?
Is it to deflect from a really poor season for Killie. I wasn’t even particularly aware of how bad it was until I checked
Lost to Stenhousemuir in the 2nd round of the league Cup
Lost to Hibs at home in the Scottish Cup , conceding 4 goals. How do you lose 4 to Hibs !!!
Failed to make the top 6 , when a draw at home to Dundee in the last game would have sufficed
It really has been a pretty poor season, and one in which the best home attendance was only 6,500, way back in August
So lots for Kenny to try and deflect attention away from.
Sticking your nose into a debate that doesn’t involve you seems more than a little silly, however as he was having a pop at Neil Lennon and not Smith or McCoist he probably knew nobody in the media would take him to task
As I said, Overall I have enjoyed Kenny’s contribution, however I remain unsure about his motivation.
I mean really, which possible constituency could he possibly be playing to by attacking Celtic, Neil Lennon and the SFA.
There does appear to be one major area of Scottish Football that Kenny never seems to comment on. I wonder why
A bit like Michelle Mone constantly droning on about her massive business empire, yet ignoring the fact this Empire employs only a couple of dozen people. With the publicity addicted its not what they say that’s interesting , it’s the topics they stay well clear of that usually reveal more
torrejohnbhoy says:
Saturday, April 27, 2013 at 12:06
Asked about money from Rangers share issue, C Mather says ‘it’s still there’, adding club’s heading in right direction
——————————————-
The hair on my head is also ‘still there’ Mr Mather. Of course, that is not the same as saying it is the same luxuriant pile of headwarmingness it once was.
http://www.telegraph.co.uk/sport/football/teams/rangers/10021913/Craig-Mather-acquired-drive-to-rescue-Rangers-after-brush-with-death.html
And the possible future – for Rangers and Mather? “We need to be the proverbial swan again –
the lake is placid but his legs are going like the devil under the surface. For me that was the traditional Rangers,” he said.
“They didn’t air their washing in public. They went about things professionally, methodically and in a calculated fashion. That’s the Rangers of old. I want to get back to that.
—————————-
Deary me. will they ever learn?
There is the usual lazy journalism around today. Gibbons hints at the problem but doesn’t front up to it in terms of TRFC’s finances. Of the £22.5M raised (though not necessarily received), £2.5M went on costs of the flotation
£0.5M is the annual costs of the NOMADs
£5.0M was paid in football debts
£0.4M was paid if as Richard Wilson suggests Orlit’s debt has been settled
£4.0M is the loss over the 4 months from December to 30 April
That’s £12.4M accounted for, leaving £10.1M. Set aside £10M for Ally’s war chest and we’re left with £100K which is probably the accrued amount of legal & professional fees on the various enquiries and court cases which are ongoing.
No wonder they’re worried
BRTH, you mentioned charletons – did you means Charles-tons??
Barcabhoy, let’s not worry about Kenny Shiels. His were particularly weasel words this week, unbecoming of a football manager, but his poor record speaks louder than the Killie motortmouth and he’ll be gone before too long
Barcabhoy @12:15…
Spot on Barca, The same Kenny Shiels who stood on a wall behind the dug-out …….after being sent to the stand, now THAT was a really grown up thing to do.
The same one who was both father and football manager/mentor to his son Dean, who left Killie to join a Fourth Tier club.
Says it all really.
I can say categorically that the IPO monies that were raised came into the club. I’m not saying that we have £22 million sat in the bank account, but the club is in a good financial state. If someone says we’ve been dysfunctional, I can’t defend that because if the business was functional, productive and profitable it wouldn’t have gone into administration.
“We’ve had to engage with all the management teams to make sure that we don’t end up back there. All I know now is that the money is in the bank – it hasn’t been siphoned off. It’s for the club’s use. It’s there for Ally (McCoist) to bring in players. We’re not financially dysfunctional now.
————————————-
Craig Mather just stated that the club went into administration and they don’t want to go back there….
C’mon MSM, ask the question, are you the same club that went into admin? If so, give us our money back!
Have attempted to post several times without success. Am I blocked or on the naughty step?
Are we on this blog living in the real world. We keep asking for the fair application of the rules and proper coverage by the media. We keep asking for the law to be applied without favour.
In no particular order :
Allowed to play even though insolvent.
Allowed a spiv to take over without a due diligence.
Allowed to go to COS without penalty.
Allowed to drag out admin – courtesy L Hodge.
Allowed to (in their minds) two finger HMRC, as a result of a peculiar 2-1 decision.
Allowed to thumb their noses at the law because Glasgow’s finest will not do their job.
Allowed conditional licence, without regard to the rules, Why did Spartans remained so mute? .
Allowed to enact (EBT’s) a ridiculous unique rule – courtesy of LNS
Allowed to remain trading as normal, per AIM, even though the tsunami is just offshore.
I Know there is much more blatant disregard of the football rules and the Civil law, and I welcome tweaking of the above and the addition of any other examples of blatant abuse of the Civil Law and the football rules.
Like I said are we living in the real world, when we expect someone in a responsible position to shout Stop. It says a lot for Scottish society that the above can be portrayed as normal state of affairs ( maybe it is) At least it will provide many nights at the fireside to regale our grandchildren
With fairy tales and the shenanigans which occured circa 2012/13 or maybe more like horror stories.
Why has Craig Mather being involved in a car crash 4 years ago suddenly become all the rage to speak about and report on.
It’s almost as if someone is trying to portray him as a heroic, nay messianic figure.
I hope it’s not all just PR spin, obfuscation and to go with the allusion of the day squirrel watching.
I mean it’s hardly relevant to.
The previous CEO leaving under a cloud, and possibly being involved in a fraudulent takeover
A current director / employee being accused of anonymous online mischief making.
A legal battle involving the assets of the business
A potential licencing problem because of undisclosed associations
The major shareholder possibly being in cahoots with the previous owner and administrators
A pair of gangsters trying to get control of the business.
A BDO / Police investigation into the sale to Whyte and onward sale to Green
An untenable business model, which no-one is changing
A brand becoming more and more toxic to potential sponsors
A manager not fit for purpose but possibly unsackable.
I suppose from Rangers point of view those all pale into insignificance when compared to a car crash 4 years ago involving a bloke whose name few of them would have known up until about a week ago.
Plus ca change etc.
Où sont les écureuils
From a car crash…to a train wreck? Choo-choo… 😉
Craig Mather
It’s either, birds of a feather . . . . .
or
Bye bye blackbird.
It shouldn’t be too long . . . .
chipm0nk says:
Saturday, April 27, 2013 at 13:45
——————————————
Why has Craig Mather being involved in a car crash 4 years ago suddenly become all the rage to speak about
——————————————-
Presumably on the basis that if he can survive one horrific car crash, Mather’s the best man equipped to deal with the one about to happen on Edmiston Drive?
The man with no shame;
Mccoist backs Murray – http://t.co/Cum8tJ0yur?
McCoist backs Whyte – http://t.co/2BWlOx7iKG
McCoist backs Green – http://t.co/RhWBW3tdiA
McCoist backs Mather.
AMcC on Mather – I had a meeting yesterday that was absolutely great. We’ll have a more in-depth meeting on Tuesday. Very positive.
BBC Scotland’s senior football reporter Chris McLaughlin:
“We understand there could be more shake-ups (at Ibrox) to come. The Easdales will look to buy more shares, as early as Monday, as they look to take some kind of control – 29.9% – at Rangers.”
In the Telegraph, Craig Mather says:-
“If someone says we’ve been dysfunctional, I can’t defend that because if the business was functional, productive and profitable it wouldn’t have gone into administration.”
http://www.telegraph.co.uk/sport/football/teams/rangers/10021913/Craig-Mather-acquired-drive-to-rescue-Rangers-after-brush-with-death.html
” …we’ve been . . . .if the business . . . it wouldn’t have gone into administration. ”
As the acting CEO, he really should get a grip of the facts.
The CE says:
Saturday, April 27, 2013 at 14:11
In what can only be a co-incidence Dave “glib and shameless liar” King would appear to be standing in the background in the first image.
It seems that with his influence over the support (which must be waning by now) Ally McCoist may have been the King maker all along. Without his support Whyte and Green could not have sold season tickets etc.
jerfeelgood says:
Saturday, April 27, 2013 at 00:57
something that occurs to me in the midst of all this talk of admin/liquidation mk 2….
When rangers were issued their license last july, in absentia of 3 yrs audited accounts, surely they had to submit a business plan for the upcoming financial year to the SFA as grounds for waiving the 3yrs accounts. In this business plan must have been a financial model/projection for the coming season(s).
As it now appears that rangers are going to make a massive loss this season (and that this loss was anticipated in the bussiness plan submitted as part of their license application), and probably the next couple of seasons, the owners of Rangers MUST have given assurances of an injection of operating capital to sustain this loss. This cash was to come from the IPO and AIM flotation. The owners must have had at that point (july 2012) guarantees in place that the IPO would cross a minimum threshold of success that would enable the club to see out all it’s fixtures for the season.
Now, If I had personally been involved in the five way agreement negotiations, I would have demanded a clause that allowed the Signatories access to rangers accounts at certain milestones to ensure that rangers actual finances were adhering to the financial projections to ensure that they would be certain that rangers would not go bust mid season. To do otherwise would be hugely irresponsible.Also I would include a clause that for a probationary period (let’s say three years) that rangers license would be subject to certain financial regulation, for example, strict monitoring to ensure financial stability.
If these points were not built into the conditions for the license, did they grant a license to an institution uncertain of whether they would be able to fulfill their fixtures for the year?
As we are now at the end of the first season, where their license could be up for review, can they now display a revised model for the next year that ensures that they will be able to fulfill all the fixtures of the next footballing season….
+++++++++++++++++++++++++++++
The link below is an update on a business case model I original did before the IPO and Interim Accounts. It takes into consideration many of the factors that have emerged in public in the past couple of months from those sources as well as past accounts.
https://docs.google.com/file/d/0B62m3ggkEX2RUWZ5THpycmFpTms/edit?usp=drive_web
In the absence of audited accounts which are required by 30th April or indeed any financial information, something like this document should be what the SFA are looking at when deciding whether to issue a licence for the coming season, never mind withdrawing SFA membership as a result of being misled last summer.
Now I know (and who can blame them) most folk will; say the SFA will not call a halt to proceedings and suspend membership and or refuse to grant a licence. However as the figures show, even allowing for share capital input of £19M (£22M less costs of share issue) the money runs out during next season if draconian cost cutting is not carried out and revenue increased, with SB rises inevitable.
Both these steps are very risky as the former should affect the quality of player (although spending wisely could avoid that) and so impact on sales. Then there is the threat of litigation. What I am leading up to is that the SFA have a responsibility to all other clubs to reduce risks to their income streams and if things just carry on as they are but The Rangers become unable to meet their fixtures, the cost of that will not fall on the SFA but the clubs.
Therefore if I were a club chairman I would be asking the SFA to indemnify my club for any losses should the SFA allow The Rangers to carry on playing on an unconditional basis next season but my club lose money if The Rangers fail. Similarly if there is TV money due to SFL clubs under a new TV contract to show The Rangers games, both the SFL AND the TV company will want some form of guarantee or indeminity against the possibility of fixtures not being fulfillled.
That business element is a new factor because it is now visible to the footballing public at large who probably never gave the risk protection aspect of licensing a thought. So the next licensing round, combined with TheRangers response to SFA questions about links to CW makes this probably the most significant licensing round in Scottish football history and the justification of awarding a licence on finanacial grounds AND not withdawing SFA membership on CW link grounds MUST be made public and any msm journalists worth their salt should be pursuing the SFA to this end.
I know of only one from across the water who has posed questions and still has not had an answer..
Chipmunk, it all sounds like yesteryear with the MSM running with an Ibrox puff piece now that their latest golden boy is at the helm. When surviving a car crash is the only ‘success” story they can come up with… sounds a bit like holding the school sprint record.
A car crash is no laughing matter, and it’s good he survived, but it has no relevance to TRFC.
manandboy says:
Saturday, April 27, 2013 at 14:15
In the Telegraph, Craig Mather says:-
“If someone says we’ve been dysfunctional, I can’t defend that because if the business was functional, productive and profitable it wouldn’t have gone into administration.”
============================
The newspapers let them away with this constantly.
The business went into administration, failed to achieve a CVA and is being liquidated.
So, you either accept it is dead, or you don’t talk about it at all. You cannot accept Rangers went into administration, and ignore the rest. That is just nonsensical.
The business you are part of, the new one, may also go into administration. That however is a different matter entirely.
The CE says:
Saturday, April 27, 2013 at 14:11
8 0 Rate This
The man with no shame;
Mccoist backs Murray – http://t.co/Cum8tJ0yur?
McCoist backs Whyte – http://t.co/2BWlOx7iKG
McCoist backs Green – http://t.co/RhWBW3tdiA
McCoist backs Mather.
AMcC on Mather – I had a meeting yesterday that was absolutely great. We’ll have a more in-depth meeting on Tuesday. Very positive.
———————————————————————————————————–
A man with no shame
In a club with more than 1 name
Mather now enters the game
When he fails who next to blame?
SFA and Ogilvie sitting lame
Letting 1 club cause all of Scotland pain
Doing nothing for our game
Are you all men without shame
I predict that after Mather, next up as CEO will be Michelle Mone.
Having a female CEO will be a welcome break with tradition and show outsiders that the club is ‘moving forward’.
Mone will also continue Green’s sterling efforts as an egomaniac and fantasist – but who also talks a great game.
The £22M ‘cash pile’ will swell to about £220M within days of her appointment, (according to the MSM that is :roll:).
And the added attraction is that she will easily deal with the ‘diddies’ of Scottish football.
I’m sure barcabhoy would approve of her appointment. 🙂
allyjambo says:
Saturday, April 27, 2013 at 14:25
Agreed.
Ironically Sir David Murray’s own personal tragedy was something they often wrote about as well.
It seems that being involved in road traffic incidents is cause for beatification in some people’s eyes.
Re Mr Mather, now I don’t want to be unkind, but a 38 year old running a powerful Mercedes off the road, with no other cars being involved in the incident, appears just a tad careless to me. As opposed to being a reason for trusting him as a businessman.
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http://www.lancashiretelegraph.co.uk/news/4753545.Car_plunges_20ft_off_A56_bridge/
Sgt Young said: “It would appear that the driver lost control, hit the hard metal barrier, skidded along it and then slipped down the embankment and on to the road below.
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Seems more like a flash bar steward than anything else.
torrejohnbhoy says:
Saturday, April 27, 2013 at 11:41
Alison Robbie @AlisonRobbie 25m
#rangers director Imran Ahmed has left the club. I understand the club decided enough was enough.
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LOL
Brian Stockbridge to go next the … one wonders what his reason will be.
Maybe he will punch a kitten, in front of a couple of pensioners, and will have to go.
Auldheid (@Auldheid) says:
Saturday, April 27, 2013 at 14:20
Expertly summarised.
One other point, possibly overlooked from the previous attempt at league reconstruction, was that the SFL were required to submit “financial information” to the SPL. What this information was to consist of I don’t think was made public. It would be reasonable to suppose that it was the SPL doing “due diligence” on the SFL clubs finances. It was reported that the SFL were dragging their feet in supplying this information. With the collapse of the proposals, this information requirement was presumably quietly shelved as well. Was this shelving possibly welcomed by a club with alleged financial problems in the bottom echelons of the game? If the allegations were correct, then disclosure may have been embarrasing for some.
We now are told that there will be a second attempt at reconstruction. Will the financial disclosure requirements from the SFL be resurrected? I wait with bated breath but little hope.
Amhed leaves without so much as a whimper. I’m sure if a director was forced out (haha) in a real company / club you would have them hanging on by their fingernails fighting their corner etc. This schizo club/company entity really has turned into a plaything for these guys. They’re all doing a runner and leaving behind a big pile of useless monopoly money.
Liberty Capital hello kitty’s?
http://item.mobileweb.ebay.co.uk/viewitem?itemId=121067132856
chipm0nk says:
Saturday, April 27, 2013 at 14:43
Brian Stockbridge to go next the … one wonders what his reason will be.
Maybe he will punch a kitten, in front of a couple of pensioners, and will have to go.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
I fully expect these directors to be replaced by three new ones.
Mr Cleese, Mr Idle and Mr Palin
csihampden says:
Saturday, April 27, 2013 at 15:52
I fully expect these directors to be replaced by three new ones.
Mr Cleese, Mr Idle and Mr Palin
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Stick to chipmonks. The parrot is already dead as dead can be.
angus1983 says:
Saturday, April 27, 2013 at 14:12
6
BBC Scotland’s senior football reporter Chris McLaughlin:
“We understand there could be more shake-ups (at Ibrox) to come. The Easdales will look to buy more shares, as early as Monday, as they look to take some kind of control – 29.9% – at Rangers.”
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As a Celtic supporter I don’t think we can ever show enough gratitude to Fergus McCann. He ruthlessly stuck to his guns in the face of media ridicule which sadly also affected the way some Celtic fans perceived him. The modern day Celtic with its high powered board and solid financial base must be the envy of many Rangers fans honest enough to admit it. Instead they see their club passed from shyster to shyster, disappearing in a mire of smoke and mirrors, allegations, counter allegations, half truths and downright lies. If only the Rangers owner at the time of Fergus McCann had been able to accept that his club might not be able to win the majority of the time and would be better to pursue a policy of self sufficiency. Where might they be this very day?
StevieBC says:
Saturday, April 27, 2013 at 14:36
I predict that after Mather, next up as CEO will be Michelle Mone.
And the added attraction is that she will easily deal with the ‘diddies’ of Scottish football.
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Well she certainly has the means to keep them under control – and for the Bearettes I believe orange might be the new autumn colour 🙂
StevieBC says:
Saturday, April 27, 2013 at 14:36
15 2 Rate This
I predict that after Mather, next up as CEO will be Michelle Mone.
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Well, they’ve already made a tit of it, so maybe Ms Mone can lift their moob a little.
Mood….I meant mood!
After all, someone has to keep abreast of developments and support Ally’s chest.
War chest….support Ally’s WAR chest. Yeah, that’s what I meant. Cross your heart.
Er…I mean cross MY heart. Jeezo….
Its no big secret
The obvious reason these Spivs are leaving is to enable them to legally cash in their shares early before the price collapses
mullach says:
Saturday, April 27, 2013 at 10:27
0 2 Rate This
HirsutePursuit says:
Saturday, April 27, 2013 at 00:17
“…My best bet would be that there will be a new club called “Glasgow Blues FC” (or something similar) playing in SFL3 and ground sharing with Partick Thistle or Queens Park next season.
That new new club – like the old new club – may be given membership of the SFL & SFA; but will not be around at the time of year when Club Licences are handed out.”
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I appreciate the dialogue HP. Although I have for some time taken an interest in these proceedings their intracacy is sometimes/often arcane unless studied in great detail.
Could you explain please why you differentiate between the SFL/SFA membership and the club licence and also elucidate concerning the chronology of these events alluded to.
What circumstances lead you to believe that the club “will not be around”. There are many circumstances in play and I am interested to see what you feel are the critical one’s.
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http://www.scottishfa.co.uk/resources/documents/SFAPublications/ScottishFAPublications2012-13/SFA_HANDBOOK_53-136_Articles_of_Association.pdf
http://www.scottishfa.co.uk/football_document_libraries.cfm?page=2570
My understanding is that the 5-way agreement set the membership criteria for Sevco Scotland when the transferred the old club’s membership to the new club in accordance with Article 14.1. The Board has “complete discretion to reject or to grant such application on such terms and conditions as the Board may think fit.”
The Board has no power to grant a Licence. “It shall be for the Licensing Committee to determine, in the first instance, whether:-
(a) a club has complied with the requirements of the Club Licensing Procedures; and
(b) to grant, suspend, refuse to grant or withdraw a Club Licence (on such terms and conditions as the Licensing Committee thinks fit) and, if a Club Licence is granted, which category of Club Licence to grant to the applicant club,provided that the determination of the Licensing Committee will not be final and binding, and clubs will have the right to appeal against any determination made by the Licensing Committee to the Judicial Panel in accordance with the Judicial Panel Protocol.”