Comment on SFM – The Next Steps by blu.
Member: (18 comments)
May 29, 2015 at 1:45 pm
Quite agree – to any objective observer The Rangers have not yet taken the first step on their journey to a sensibly run football club business.
And this is coming from a Manchester City supporter!!!!
Ouch. They do operate in a league awash with money and are owned by a genuine on billionaire though.
blu Also Commented
SFM – The Next Steps
June 17, 2015 at 10:18 am
Re the Herald article and King’s £20m claim and potential £1.4m dividend.
smugas, I expect that BDO will continue in their professional fashion to get the best outcome for the stiffed creditors. The latest report has this to say, which may be instructive,
“7. Dividend Prospects
The Joint Liquidators have virtually completed their adjudication process on creditors’ claims. This process has involved the review of thousands of claims, some of which are complex requiring further investigation and, in respect of certain claims, legal advice.
I’ve no idea whether Martin Williams of The Herald has asked anyone at BDO what those complex (contested?) claims might be. You’d think there might be a potential story there though, for a good news reporter? Martin Williams could have been the guy to chase it.
On this part:
The Joint Liquidators intend to make a distribution totalling in the region of £10 million to unsecured creditors by the end of July 2015. Sums equating to the dividend payment in respect of contingent claims, for example HMRC’s claim in respect of the Big Tax case, will require to be retained until the relevant claim can be made or is withdrawn.
Williams takes the glass half full view of King’s prospects by assuming that he’s guaranteed 7% of the proposed £10m interim dividend. Not so long ago Williams was awarding King £3m.
June 16, 2015 at 3:11 pm
Chris McLaughlin @BBCchrismclaug · 24m24 minutes ago
Former Motherwell director Stewart Robertson is the new MD at #Rangers. He’ll take over day to day running of the club.
Too many chiefs and not enough indians at the moment?
Surprised at your response ej – I’ll resist the temptation to venture into OCNC territory or the potential impact of the Article 12 case, but this is surely as straightforward as it’s been since they started in 2012. It’s been a good few days of apparently normal business. The appointment of the team manager and the CEO should have been sorted out long ago – following the Budge model. Then sort out the squad.
That doesn’t clear up the murkiness about company structure and inter-related debt nor who and how it’s all going to be paid for, of course. And then there’s the onerous contracts, loans and trademarks to deal with.
Member: (63 comments)
June 15, 2015 at 1:32 pm
Matt Lindsay of the Herald: take a bow.
“But his [Warburton’s] highly impressive curriculum vitae certainly suggests he will handle the role with aplomb.
The arrival of one of English football’s hottest managerial properties in Scotland will add an element of intrigue to the forthcoming season”
If a similar appointment had been made at TUPE time, most people would have agreed that it would have given Rangers a chance to build something worthwhile. However they’ve ended up with two pretty inexperienced guys who worked in a well-resourced environment and have no previous exposure to the intense scrutiny and criticism that goes with the job (there’s only so much that cheerleaders like Lindsay Herron can do). All this while the financial challenges remain formidable. It would seem reasonable to assume that despite the great progress made by Brentford in recent years, English Championship and Premier League clubs weren’t prepared to take a gamble on Warburton. The two aren’t the standard football template and may just work out, but it’s a risk.
Recent Comments by blu
Accountability via Transparency.
Easyjambo @21:59 , couldn't agree more. CFC should have settled for condemning the behaviour of the bigots. The additional comments were unnecessary and showed a lack of class – almost as bad as a former trfc statement scribe Graham.
JPP: Perverting Justice?
This fiasco has arisen because the SPFL has a legacy commitment from the SPL to play later stage League Cup ties involving RFC 2012 and Celtic FC at Hampden. A simple get out of this was to claim force majeure in respect of the liquidation of one the parties central to that commitment. The SPFL surely couldn't be held accountable for a member club going bust?
To Comply or not to Comply ?
Why, oh why, is Gerrard falling for that WATP crap. Rangers were miles ahead of Aberdeen yesterday, why not settle for saying that? Maybe he needs Mikey Srewart as his PR rather than L5.
To Comply or not to Comply ?
What’s with the sexist, jokey support of the racist thug Terry?
You have to laugh at the idea that Murray would just have borrowed the money if he had not used EBT’s.June 2004 the debt was £74 million.December 2004 £51 million is raised by a rights issue. The only trouble is, Murray paid for that. And where did the money come from?RBoS of course!So he borrowed and used EBT’s at the same time.That’s like Lance Armstrong not only cheating with drugs, but also using a motorbike.
8Wrong evil bank, I think.