Good Afternoon.
Announcing outstanding financial successes for Rangers PLC the then Chairman of the club opened his Chairman’s report in the annual financial statements with the following words:
“Last summer I explained that the Club, after many years of significant investment in our playing squad
and more recently in our state of the art facility at Murray Park, had embarked on a three year business
plan to stabilise and improve the Club’s finances. The plan also recognised the need to react to the
challenging economic conditions facing football clubs around the world.
Following a trend over a number of years of increasing year on year losses, I am pleased to report that
in the first year of this plan we have made important progress by reversing this trend. Our trading loss
for last year of £11.2m reflects a £7.9m improvement versus the £19.1m loss for the previous year and
although it will take more time to completely reach our goals, this is a key milestone. We also intend to
make significant further progress by the end of the current financial year. This improvement is the
consequence of having a solid strategy and the commitment and energy to implement the changes it requires”
Later on in the same statement the chairman would add:
“Another key part of our plan is associated with the Rangers brand and our Retail Division goes from strength to strength. Our financial results this year have been significantly enhanced by an outstanding performance in merchandising Rangers products, in particular replica kit, which makes our Retail Division one of the most successful in Europe.”
In the same set of financial reports, the CEO would report:
“To further strengthen Rangers hospitality portfolio, a new dedicated sponsor’s lounge was unveiled this season. The Carling Lounge is a first for the Club and was developed in conjunction with our new sponsor, Carling. ”
and
“Our innovative events programme continues to grow and this year saw a record number of official events including the highly successful annual Hall of Fame Awards Ceremony, Player of the Year and 50 Championships Gala Dinner, all of which catered for up to 1000 guests.
At Rangers, we continually develop our portfolio of products and as a key area of income for the Club, we evaluate the market for new revenue opportunities on an ongoing basis in order to exceed our existing and potential customer expectations and needs.
Demand for season tickets reached an all time high last season with a record 42,508 season ticket holders in comparison with the previous season`s figure of 40,320. Over 36,000 of these season ticket holders renewed for this season – a record number.
For the new season, we are delighted to welcome brewing giant, Carling on board as our Official Club sponsor. Carling is one of the UK’s leading consumer brands with a proven track record in football sponsorship.
The Club also continues to work with a number of multinational blue chip brands such as National Car Rental, Sony Playstation 2, Bank of Scotland and Coca-Cola. This year, we will also experience the evolution of the Honda deal via Hyndland Honda and welcome the mobile communications giant T-Mobile to our ranks.”.
The year was 2003 and in the previous 24 months Rangers Football Club, owned and operated as a private fiefdom by Sir David Murray, had made operational losses of some £30 million.
Yes – 30 MILLION POUNDS.
Of course the chairman’s report for 2003 was written by John F Mclelland CBE and the CEO was one Martin Bain Esq.
As Mr Mclelland clearly stated, by 2003 the club already had a trend of increasing year on year losses covering a number of years and was losing annual sums which stretched into millions, if not tens of millions, of pounds.
However, the acquisition of Rangers Football Club was absolutely vital to David Murray’s personal business growth, and his complete control of the club as his own private business key was more important than any other business decision he had made before buying Rangers or since.
When he persuaded Gavin Masterton to finance 100% of the purchase price of the club, Murray had his finest business moment.
By getting control of Rangers, Murray was able to offer entertainment, hospitality, seeming privilege and bestow favour on others in a way that was hitherto undreamed of, and he bestowed that largesse on any number of “existing and potential clients” and contacts – be they the clients and contacts related to Rangers Football Club or the existing and potential clients of David Murray, his businesses, his banks, or anyone in any field that he chose to court for the purposes of potential business.
His business.
It wasn’t only journalists who benefited from the succulent lamb treatment.
Accountants,lawyers, surveyors, broadcasters, football officials, people in industry and construction, utilities, financiers and other areas of business were all invited inside the sacred House of Murray and given access to the great man of business “and owner of Rangers” while attending the “record number of official (hospitality) events”.
Twelve months on from when John McLelland made those statements in the 2003 accounts, David Murray was back in the chair at Ibrox and he presented the 2004 financials.
In the intervening 12 months Rangers had gained an additional £10 million from Champions League income and had received £8.6 million in transfer fees from the sale of Messrs Ferguson, Amoruso and McCann. Not only that, the Rangers board had managed to reduce the club’s wage bill by £5 million. Taking all three figures together comes to some £23.6 million in extra income or savings.
Yet, the accounts for 2004 showed that the club made an operational loss of almost £6 million and overall debt had risen by an additional £7 million to £97.4 million.
However, the 2004 accounts were also interesting for another reason.
Rangers PLC had introduced payments “to employees trusts” into their accounts for the first time in 2001 and in that year they had paid £1million into those trusts. Just three years later, the trust payments recorded in the accounts had risen to £7.3 million per annum — or to put it another way to 25% of the annual wage bill though no one in Scottish Football asked any questions about that!
By the following year, the chairman announced that the 2004 operational loss had in fact been £10.4million but that the good news was that the 2005 operational loss was only £7.8 million. However Rangers were able to post a profit before taxation if they included the money obtained from transfers (£8.4 million) and the inclusion of an extraordinary profit of £14,999,999 made on buying back the shares of a subsidiary company for £1 which they had previously sold for £15 million.
All of which added up to a whopping great profit of ……… £12.4 million!
I will leave you to do the maths on 2005.
Oh and of course these accounts included the detail that 3000 Rangers fans had joined David Murray in participating in the November ’94 share issue where the club managed to raise £51,430,995 in fresh capital most of which was provided by Mr Murray… sorry I mean MIH ….. sorry that should read Bank of Scotland …… or their shareholders……. or should that be the public purse?
The notable items in the 2006 accounts included the announcement of a ten year deal with JJB Sports to take over the merchandising operation of the club and increased revenue from an extended run in the Champion’s League. However, the profit before tax was declared at only£0.1 million in comparison to the £12.4 million of the year before but then again that £12.4 million had included player sales of £8.4 million and the £15 million sweety bonus from the repurchase of ones own former subsidiary shares for £1.
Jumping to 2008 Rangers saw a record year in terms of turnover which had risen to £64.5 million which enabled the company to record a profit on ordinary activities before taxation of £6.57 million although it should be pointed out that wages and bonuses were up at 77% of turnover and that a big factor in the Rangers income stream was corporate hospitality and the top line of income was shown as “gate receipts and hospitality”.
However, 2009 saw a calamitous set of figures. Whilst Alastair Johnston tried to put a brave chairman’s face on it, the year saw an operating loss of £17.325 million which was softened only by player disposals leading to a loss before taxation of a mere £14.085 million.
Fortunately Sir David did not have to report these figures as he chose to stand down as chairman in August and so Johnston stepped in and announced that he was deeply honoured to do so.
In 2010, the income stream jumped from £39.7 million to over £56 million with the result that the club showed a profit before taxation of £4.209 million.
However, by that time the corporate hospitality ticket that was Rangers Football Club was done for as a result of matters that had nothing to do with events on the football field in the main.
First, the emergence of the Fergus McCann run Celtic had brought a real business and sporting challenge. This was something that Murray had not previously faced in the football business.
Second,the Bank of Scotland had gone bust and Lloyds could not and would not allow Murray to continually borrow vast sums of money on the basis of revalued assets and outrageous hospitality.
Third, the UEFA fair play rules came into being and demanded that clubs at least act on a semblance of proper corporate governance and fiscal propriety.
Lastly,Her Majesty’s Revenue and Customs tightened up the law on the use of EBT’s which meant that Rangers could no longer afford to buy in the players that brought almost guaranteed success against domestic opposition.
On average, since 2002 Rangers PLC had lost between £7 million – £8 million per year – or roughly £650,000 per month if you like – yet for the better part of a decade David Murray had been able to persuade the Bank of Scotland that this was a business that was worthy of ever greater financial support or that he himself and his MIH business was of such value that the Banks should support him in supporting the Ibrox club whilst operating in this fashion.
Of course, had Murray’s Rangers paid tax on all player remunerations then the losses would have been far larger.
Meanwhile, all the other clubs in Scottish football who banked with the Bank of Scotland faced funding cuts and demands for repayment with the bank publicly proclaiming that it was overexposed to the football market in Scotland.
But no one asked any questions about why the bank should act one way with Murray’s club but another way with all others. No one in football, no one in the media and no one from the world of business.
Looking back,it is hard to imagine a business which has been run on such a consistent loss making basis being allowed to continue by either its owners or by its bankers. However, a successful and funded Rangers was so important to the Murray group that David Murray was clearly willing to lose millions year after year to keep the Gala dinners and corporate hospitality going.
Rangers were Murray’s big PR vehicle and the club was essentially used by him to open the doors which would allow him to make more money elsewhere on a personal basis and if it meant Rangers cutting every corner and accumulating massive losses, unsustainable losses, then so be it.
Today, the new regime at Ibrox run the current business in a way which clocks up the same colossal annual losses whilst the club competes outwith Scotland’s top division. Each day we hear that the wage bill is unsustainable, that the playing staff are overpaid, that the stadium needs massive investment and that the fans are opposed to the stadium itself being mortgaged and the club being in hawk to lenders.
Yet, in the Murray era the Stadium was revalued time and time again and its revaluation was used as the justification for ever greater borrowing on the Rangers accounts. The playing staff were massively overpaid and financially assisted by the EBT’s and most years the Chairman’s annual statement announced huge losses despite regular claims of record season ticket sales, record hospitality income, European income, shirt sponsorship and the outsourcing of all merchandising to JJB sports instead of Sports Direct.
The comparison between the old business and the current one is clear for all to see.
It should be noted, that since the days of Murray, no major banking institution has agreed to provide the Ibrox business with any banking facilities. Not under Whyte, not under Green, not under anyone.
Yet few ask why that should be.
The destruction of the old Rangers business led those in charge of Scottish football to announce that Armageddon was on the horizon if it had not actually arrived, yet today virtually all Scottish clubs are in a better financial and business state than back in the bad old days of the Bank of Scotland financed SPL. Some have succumbed to insolvency, and others have simply cut their cloth, changed their structure, sought, and in some cases attracted, new owners and moved on in terms of business.
In general, Scottish Football has cleaned house at club level.
Now, David Murray has “cleaned house” in that MIH has bitten the dust and walked down insolvency road.
What is interesting is that the Murray brand still has that capacity to get out a good PR message when it needs to. Despite the MIH pension fund being short of money for some inexplicable reason, last week it was announced that the family controlled Murray Estates had approached those in charge of MIH and had agreed to buy some key MIH assets for something in the region of £13.9 million.
The assets concerned are land banks which at some point will be zoned for planning and which will undoubtedly bring the Murray family considerable profit in the future, with some of those assets already looking as if they will produce a return sooner rather than later.
However, what is not commented upon in the mainstream press is the fact that Murray Estates had the ability to pay £13.9 Million for anything at all and that having that amount of money to spend the Murray camp has chosen not to buy any football club down Govan way.
Perhaps, it has been realised that a football club which loses millions of pounds each year is not such a shrewd investment and that the Murray family money would be better spent elsewhere?
Perhaps, it has been realised that the culture of wining, dining, partying and entertaining to the most lavish and extravagant extent will not result in the banks opening their vaults any more?
Perhaps, it has been realised that the Rangers brand has been so badly damaged over the years that it is no longer the key to the golden door in terms of business, finance and banking and that running a football club in 2015 involves a discipline and a set of skills that David Murray and his team do not have experience of?
What is clear, is that the Murray years at Ibrox were not good for the average Rangers fan in the long term and that when you have a football club – any football club – being run for the private benefit of one rich individual, or group of individuals, then the feelings and passions of the ordinary fan will as often as not be forgotten when that individual or his group choose to move on once they have decided that they no longer wish to play with their toy football club.
David Murray did not make money directly out of Rangers Football Club. He used it as a key to open other doors for him and to get him a seat at other tables and into a different type of “club” altogether. He did not run the club in a day to day fashion that was designed to bring stability and prolonged financial, or playing, success to the club. its investors and its fans. He did not preside over Ibrox during a period of sustained financial gain.
Mike Ashley will not subsidise 2015 version of Rangers to anything like the same extent that the Bank of Scotland did in the 90’s and naughties.
However, Ashley, like Murray, will use his control of the Rangers brand to open doors for him elsewhere in the sports retail market, and he will use the Rangers contract with Sports Direct to make a handsome profit. He will also control all the advertising revenue just as he does at Newcastle. In short, Mr Ashley is only interested in The Rangers with a view to using it as a stepping stone to achieve other things elsewhere.
However, don’t take my word for any of this, take the opinion of someone who knows.
Mr Dave King is quoted today as saying the following about the current board of Directors who are in charge of the current Ibrox holding company.
“History will judge this board as one of the worst the club has ever had. There is not one individual who puts the club above personal interest.”
That is an interesting observation from a man who became a non executive director of the old Rangers holding company in 2000 and who had a front row pew for every set of accounts and all the financial statements referred to above.
Whether or not Mr King is a glib and shameless liar is a matter of South African judicial opinion. Whether or not he can spot someone who puts their own self interest ahead of the interests of Rangers Football Club and the supporters of the club is a matter that should be discussed over some fine wine, some succulent lamb and whatever postprandial entertainment you care to imagine.
I wonder if he has ever read the accounts of Rangers PLC and compared them to the corresponding accounts of MIH for the same period?
Some points from Celtic’s interims from a quick scan.
http://cdn.celticfc.net/assets/downloads/SE%20Release%20_FINAL_%20060215.pdf
Positives
Still making a profit of £6.6M for the period
Player trading generated £7.7M
Expenses down by £6M (mix of no CL bonuses and general cuts?)
Trade Creditors down by £4.4M since June
Bank debt down £3.1M since June
Negatives
Commercial Revenue down almost £12M (loss of CL income)
Merchandising down £1.7M on same period
Trade Receivables down £2M since June
Cash & equivalents down £2M since June
Deferred income (STs & Sponsorship down) £500K on same period
Overall a fairly solid set of figures and the Board seems to have been prudent in reducing the Bank debt. However, it looks like the extremely positive player trading element of revenue is probably coming to an end.
Ian Bankier expects the 2nd half of the year to be challenging (code word for a loss?) although I would expect the full year results still to be in the black.
Overall it shows that Celtic will just about break even without CL income, which is where they should aim to be. I don’t see much in the way of big transfer fees being obtained from the current squad, so further constraints on spending may occur.
BBC Scotland trailing the ‘potential Indian investor’ story on Reporting Scotland as opposed to the explosive AIM announcement.
Mr Keevans just stated that the sfa will allow Mr King as a fit and proper person if he triumphs in egm. I can only say ffs really ffs.
yourhavingalaugh says:
February 6, 2015 at 5:59 pm
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Is it normal for a company registered on one country to hold their egm in another
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Without wishing to kick the wasps nest of last September, London is appropriate.
RIFC shares are traded on LSE.
That is in London.
Holding a GM near to where the Share listing is positioned (rather than simply where the company registration exists) is far from unusual, and makes a great deal of sense. It could be argued to be the norm, although the AGM can be held anywhere.
AGM is about the shareholders (the owners) not the geography of the business (its customers).
There are lots of potential reasons for critcising RIFC board. But this isn’t one. Perfectly reasonable of them.
http://www.thisismoney.co.uk/money/news/article-2142807/30-SECOND-GUIDE-AGM-locations.html
I see this posted on Rangers media as it appears to show that complaints to the ASA about the ‘That’s not Rangers’ advert have resulted in the ASA again saying that Rangers is indeed still Rangers, though they are okay with the advert because it is clearly written in such a way that it is an opinion and adverts are allowed to state an opinion. I know it’s only the ASA, but any comments from anyone involved in placing the advert?
Yet another glaring example of the SFA’s lack of credibility and contempt for the fans.
OK, so having the EGM in London is not illegal, but sneaky and should keep the attendance to a minimum.
But we all saw at the last AGM that quite a few hundred TRFC supporters/shareholders were interested enough to attend.
IMO, this is another prime example where a competent, professional governing body should be the proactive conduit between the fans and unreasonable directors who specifically exclude fans’/shareholders’ input and participation.
But if – in the highly unlikely event – Regan came out of the bunker and told the SMSM that the EGM should be at Ibrox because it wasn’t fair on the fans…nobody would take him seriously.
And this is just another public example where the SFA is failing – god knows what else happens behind the scenes at Hampden which we don’t hear about ?
I’ve maintained since his reappearance with the 3 bears that King has the SFAs approval
The current board of an SPFL club and SFA member believe that someone attempting to take them over is not a F and PP. Surely the current board could and need to ask the SFA to support this view or not based on the information the board give them. The principle of F and PP is that the clubs themselves need to confirm they comply, this board is pointing out that they would not should Messrs King or Murray get on board. It’s ludicrous. I do believe that there may be a Brysonesque angle to this: King and Murray were deemed by themselves to be F and P therefore they are?
ETA: and the result will be a busted flush even faster than under Ashley.
StevieBC says:
February 6, 2015 at 7:08 pm
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Yet another glaring example of the SFA’s lack of credibility and contempt for the fans.
OK, so having the EGM in London is not illegal, but sneaky and should keep the attendance to a minimum.
But we all saw at the last AGM that quite a few hundred TRFC supporters/shareholders were interested enough to attend.
IMO, this is another prime example where a competent, professional governing body should be the proactive conduit between the fans and unreasonable directors who specifically exclude fans’/shareholders’ input and participation.
But if – in the highly unlikely event – Regan came out of the bunker and told the SMSM that the EGM should be at Ibrox because it wasn’t fair on the fans…nobody would take him seriously.
And this is just another public example where the SFA is failing – god knows what else happens behind the scenes at Hampden which we don’t hear about ?
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The fans own a tiny minority of the shares.
They are entitled to attend.
They are entitled to vote.
They have no say in where it is held.
That is down to the board.
And it is certainly not in the remit of the SFA!
If the board wanted to be unreasonable, they could have held it in Melbourne.
From the BT website on its choice of AGM locations:
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AGM venue
The critical factors when choosing the AGM venue are likely attendance, cost and availability. In past years, we have held the meeting at various UK locations, including Liverpool, Cardiff, Birmingham, Nottingham, Wembley, London, Newcastle, Edinburgh, York and Manchester. By holding the AGM in different parts of the UK, we hope, over the years, to provide more and more shareholders with an opportunity to attend a meeting within a reasonable travelling distance of their home.
Resin_lab_dog says:
February 6, 2015 at 7:17 pm
…
And it is certainly not in the remit of the SFA!
If the board wanted to be unreasonable, they could have held it in Melbourne.
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Totally agree with that Rld.
But if the SFA can’t be @rsed speaking up on behalf of the fans, then what is their purpose ?
“Respected and Trusted to Lead” is an SFA main objective… 😕
I Hope Goosey is right and wee Kenny will be the man to help prevent what looks more and more like blatant pheoxning.
A board that includes Murray & King
Playing out of the same stadium
The same branding
A member of the same associations
Viewed by customer base, MSM, some legal bodies and associations as the same club.
From Wikipedia, I know not always a reliable source but ah well
A phoenix company is a commercial entity which has emerged from the collapse of another through insolvency. The new company is set up to trade in the same or similar trading activities as the former, and is able to present the appearance of “business as usual” to its customers.
The only way for thing to change is for the paying customers of all the all clubs to stop paying.
upthehoops says:
February 6, 2015 at 3:19 pm
Even this SFA are going have to work hard to come up with a justifiable reason for allowing King to hold office.
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Level 5 are on the case 😆
Cluster One says:
February 6, 2015 at 7:34 pm
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upthehoops says:
February 6, 2015 at 3:19 pm
Even this SFA are going have to work hard to come up with a justifiable reason for allowing King to hold office.
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Level 5 are on the case 😆
…………………………………….
They’re going to stamp “OK” on it
. . . Then pass it up to the Boys on “Level 6” !
Every day is a school day,tonight I wfollowed a path that I have tread for god knows how long,same old same old meet my rangers supporting buddy few beers,shoot the breeze and so on,ok not quite the same as things have changed on the conversation front regards rangers,tonight however I was totally ignored, he was standing, same part of the bar as always but with what turned out as another rangers supporter and where they giving it lalldey on the current situation at the new club,so Left them to it and I am now at another wee pub happily knowing that my buddy is getting it off his chest maybe a few more will also’
eatipacificiscotia says:
February 6, 2015 at 5:04 pm
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Bloody great post. Speaks so much for me as a Hearts fan and how I feel about the Glasgow Two.
Forsyth reporting the EGM is in London for safety reasons, also that the club security have advised Llambias and Easdale not to attend the Raith game.
http://www.telegraph.co.uk/sport/football/teams/rangers/11396950/Rangers-move-EGM-410-miles-from-Ibrox-to-London-to-avoid-angry-fans.html
The SFA will do nothing.
Black white and blue corner, rule breaking ineligible dual owner: loyal blue corner tax evader, ineligible former directors.
The SFA made this mess, when all sense, justice, even enlightened self interest should have let the dead stay dead in 2012, these feckin eejits chose the path of impossible resurrection:the zombie apocalypse that is now upon them, is one entirely of their own making!
EGM VENUE
IMO the only reason the EGM is being held in London is that the Board has reckoned a large percentage of the approx 5,000 Bear small shareholders would have turned up at an Ibrox venue looking for blood.
In spite of what the SMSM and World Domination Bears – who claim a 500 million or is it billion worldwide support – the Rangers support is drawn mainly from distinct areas of Scotland augmented by a NI contingent.
Roddy Forsyth has stated in the DT that Sandy Easdale and Llambias have been told by the Rangers’ security advisors to stay away from Ibrox when Rangers meet Raith Rovers in the Scottish Cup tie and have taken this advice.
I wonder if Ashley will have the bottle to show his face at Ibrox in their place? I doubt it.
I think the recent agm and the security and policing shambles surrounding the Heart’s Game fiasco have put the wind-up those in charge at Ibrox.
If I was them I don’t think I would be that confident about the in-house security being able to deal with the probable levels of confrontation and there could even be a feeling that Police Scotland might be a little tardy in riding to the rescue.
The Board probably think they’ve been quite clever with their switcheroo wheeze and outwitted dumb fans. If I was them I wouldn’t be counting my chickens just yet 🙄
Football fans in general show amazing ingenuity in travelling all over Europe to support their team in games and this time a large % of Bears believe this to actually be a fight to save their club from death.
I think they could well produce substantial numbers in London and actually generate enormous media coverage there. It really has a David v. Goliath feel to it.
Your ordinary skint Bear taking on Billionaire Ashley – Oh I can see the media being very interested in this one with the risk of oodles of adverse publicity for SportsDirect.
A well-directed Fan PR Campaign could do quite a bit of damage to SportsDirect IMO from supporters of other football teams and just ordinary folk who like to see the little guy win against all the odds.
And London being London who knows who might join in the party. I wonder if the hotel is actually aware of the risk. Indeed it might be that no Scottish hotel or venue was prepared to take the chance.
Keevins has a 50-50 chance of being correct notwithstanding other information in the public domain about King. That’s enough for a gossip peddler like him to fly yet another kite (remember Artur Jorge? 🙂 ).
That said, Keevins has been around the game long enough to know as well as I do that if it is possible (through SFA rules) to give King a shoo-in, then they probably will unless some other factor like supporter unrest at other clubs becomes a problem.
An educated guess therefore would be that King will have no such worries. The statutory problems surrounding phoenixism may supersede any SFA wish to welcome King though.
Perhaps the most important thing is this. If a lazy hack like Keevins – and me – can work it out, I’m guessing that Lambias has too. I can’t do a lot about it, but I suspect Lambias can.
I think it is also useful to put our outrage into perspective here.
Dave King, if the things that are said about him are true, doesn’t appear to be a very wholesome man. Of all the things I have heard about him, the words, “honest”, “fair”, “trustworthy” or “affable” have never appeared. Many negatives have.
But King being allowed into Hampden committee rooms is not giving TRFC an unfair advantage. It might be amoral, even anathema to those of us who want our football administrators to be above reproach, but it’s not the same as lying about player remuneration to the tax authorities and the football authorities. It’s not the same as gaining an unfair sporting advantage because you hire players you can’t afford so the taxpayers, via HMRC and BoS can foot the bill.
It’s not the same as having (ironically for the staunchly Conservative Rangers) the UK’s first nationalised football team.
It speaks volumes about the SFA’s total dysfunctionality and inability to govern – and also the lack of self-regard that Scottish football has.
But it is not cheating.
Eco
Agree with much of that, and I do have sympathies with the small shareholders who no doubt have legitimate questions they want answers to. There does seem to be a number of fans who are planning on going to the EGM. It’ all also clear that many wiser heads are terrified that they will see a repeat of the scenes at the Heart’s game, which would have serious repercussions in London. No media/law and order axis there, keen to play down events for different reasons.
This could well be extremely messy.
BP
King was director whilst that behaviour was going on, he has a collective responsibility for the company’s action at that time. Absent King and the other directors there would have been no bad behaviour. It is a legal fiction that company’s have a “personality”, a necessary fiction yes, but, it shouldn’t be used to excuse the managers responsible for the company’s actions. That surely, is the whole bloody point behind initiatives like fit and proper?
Was this how it happened?
DL : Hello? Is that the Conference centre?
CC : Yes, how can I help?
DL : We have a small gathering next month – do you have availability? It’s an EGM.
CC : Oh, yes. We can accommodate up to 2000 people, more if required.
DL : No, no…..no We want to keep it to around 50, stretching to 500 tops.
CC : No problem from our side.
DL : Is it possible to have the top table around can-throwing length from the seated guests?
CC : Can-throwing length? I don’t understand.
DL : Can we have the top table around 50 yards from the guest seating?
CC : Yes….no problem. It will impact on capacity though.
DL : Good, in fact very good. Is it also possible to place some barriers between the top table and the seated guests? Say a barbed wire topped fence of some kind?
CC : Sir is joking, I assume? Very amusing. We can do party hats if you like.
DL : No, this isn’t really a party. A concert party maybe. How far away is the nearest SAS unit? Do you have house security?
CC : I can see that Sir is a great joker. Just to allay any concerns we do have house security. Reg retired from Somerset Police 25 years ago and is still very active at his age.
DL : Well, OK then.
CC : So I should book you into the Green Room, then….
Scottish Football is going to step out of the shower one day and this will all have been a dream.
PS The title for the ‘Car Crash TV’ channel show on Rangers obviously has to be Karmageddon!
Two observations on the EGM venue.
Firstly, Roddy Forsyth. Stating the obvious I think. Of course safety is the reason for the choice of venue, but why would it be especially necessary? Perhaps there is an ambush being prepared for King & Co.
From what I have heard (speculation on the part of sources) the feeling is that a rabbit will be extracted from a hat mid-meeting which will not please Brer Bear.
Secondly, I don’t think there is any chance that hordes of outraged Bears will descend upon the King’s Road. That is a spotlight they can (must) definitely do without – and any kind of fracas would be under the national media gaze, not the soft-focus of Pacific Quay. Fan organisers – if they have any sense at all – will be working feverishly to prevent that at all costs.
Englandshire is happy to watch the Daft Jock Freakshow four times a season on Sky, at a distance, in the hope that they might see some blood. Witnessing it live, on their own doorstep, is quite another thing.
Voting intentions at the EGM
I would be amazed if any institutional shareholders would vote for King to be appointed as a director
Regardless of the mitigation and damage limitation attempts by his Media supporters , his PR advisors and some fans spokespersons , the clear position is that King is not a trustworthy individual. Anyone trusting their investment to King is bevaving recklessly and investors do not take kindly to reckless behaviour from the Institutions who manage their funds.
Why risk being fired just to support an individual who has had his character and integrity shredded by a judge. He in my mind is every bit as unacceptable as Craig Whyte. Remember King made much of his money by selling shares in a SA plc just before it collapsed leaving other shareholders with nothing.
Kings history should be first and foremost in the mind of the 3 Bears , especially George Taylor. He is MD of Morgan Stanley in Hong Kong. Now he is spending his own money , not Morgan Stanley’s. However , in my view it would reflect very badly on Morgan Stanley should a senior executive vote for someone like King .
I would question their judgement and integrity if that was the decision making employed by their management.
The 3 Bears are a credible reputable group , who would be damaged by a connection with King ( who is most certainly not reputable)
I doubt very much any vote is certain, and would think the likeliest outcome is a deal with the 3 Bears and the current board, leaving King sidelined. That indeed is what fans and media should be pushing for.
It makes by far the most sense for Rangers
Barca when did Sense join the cast of this particular sitcom?
Regan has surfaced, not sure if his choice of subject is a comment on recent events or not….
“Stewart Regan @StewartMRegan 2m2 minutes ago
Reminds me of the Tartan Army in Serbia. Hats off to you all! That’s what community means. #AllForOneOneForAll
http://www.broomhillsportsclub.org.uk/latestnews/bsc-pull-together-to-shovelling-snow-and-ice-5th-february-2015.html …
“
Barcabhoy says:
February 6, 2015 at 8:45 pm
It makes by far the most sense for Rangers
——————————————————
I agree with virtually everything you have stated but sadly this isn’t about ‘sense’. It’s about emotions based on a past history that can never be recreated.
I’m actually less sure now about the outcome of this than I’ve ever been and can’t believe some of the cack-handedness being displayed recently by those in charge at Ibrox.
The nearest analogy I can think of is that of a picador enraging a bull by pricks from his lances and goading the frenzied animal into a blind rage resulting in a fight to the death – usually for the bull.
It’s almost as if the Board wants the fans to revolt – but how does that make any sense? Has a decision been taken to fight the fans to a standstill and bring them to their knees or even senses where they are glad to accept what Ashley provides.
He’ll lose a significant number but maybe he thinks he’ll get them back or replace them with new fans who will accept what’s on offer without complaint.
Nero fiddles whilst Rome burns…
Stewart Regan @StewartMRegan 2m2 minutes ago
We really need a joined-up effort to plan a mid-season break for those leagues that are up for it. Football on light nights anyone? #icedout
I was with a mate (a celtic fan) earlier this evening discussing
planet fitba when he came up with the following.
Why is there a contradiction between the accepted year of Celtics
founding (1888) and the date quoted in the first line of the recent
ad in the herald (1887)?
Anyone?
Big Pink 8.30
Would it be acceptable to SFA to allow a man into their committees who was the Director of a club that failed to provide information as required by UEFA rules that would have told the SFA and UEFA that RFC had an overdue payable to HMRC?
I think that would be a step too far even for the SFA.
@Crawford your mate doesn’t know his history 😉
Celtic were formally founded at a meeting in November 1887. They played Rangers in a friendly in May 1888 and the 1888-89 season was their first in competitive football. 1888 is “claimed” because of the first match and the start of the first season.
http://www.celticfc.net/pages/history
scapaflow says: February 6, 2015 at 9:32 pm
Nero fiddles whilst Rome burns
=========================
The discussion goes a bit further with Ewan Murray. The timeline is a bit all over the place though.
Stewart Regan @StewartMRegan · 1h1 hour ago
We really need a joined-up effort to plan a mid-season break for those leagues that are up for it. Football on light nights anyone? #icedout
Ewan Murray @mrewanmurray · 1h1 hour ago
@StewartMRegan terrific this.. Doncaster whines about pitches, you whine about pitches.. Sectarian chants by thousands…?! Silence!
Stewart Regan @StewartMRegan · 58m58 minutes ago
@mrewanmurray so what’s your solution Victor?
Ewan Murray @mrewanmurray · 56m56 minutes ago
@StewartMRegan national body that takes a lead on a scene broadcast to tens of millions would be a start. Non league pitches your priority?!
Stewart Regan @StewartMRegan · 55m55 minutes ago
@mrewanmurray it was the League Cup semi Ewan?
Stewart Regan @StewartMRegan · 54m 54 minutes ago
@mrewanmurray @weehairy dear dear Ewan. Tell me how several thousand people could be simultaneously arrested?
Ewan Murray @mrewanmurray · 59m59 minutes ago
@StewartMRegan @weehairy do you purport to speak for the police now? You are bad enough at speaking for your own regime.
Stewart Regan @StewartMRegan · 1h1 hour ago
@weehairy @mrewanmurray What’s your suggestion to address thousands of people chanting inappropriate songs then? Police cannot arrest them.
Ewan Murray @mrewanmurray · 54m54 minutes ago
@StewartMRegan @weehairy are you a police official? Did I ask you for arrest commentary or reasoning?
Ewan Murray @mrewanmurray · 54m54 minutes ago
@StewartMRegan I’m aware. Your compliance system wouldn’t count if a player punched another in face, not acted on by referee?
Stewart Regan @StewartMRegan · 52m52 minutes ago
@mrewanmurray and the relevance to the singing or just another Victorism?
Ewan Murray @mrewanmurray · 51m51 minutes ago
@StewartMRegan what’s the relevance to it being the league cup? Have you got the ultimate disciplinary jurisdiction or not?
Stewart Regan @StewartMRegan · 49m49 minutes ago
@mrewanmurray not for fan behaviour, no – that sits with the League and their members.
Ewan Murray @mrewanmurray · 48m48 minutes ago
@StewartMRegan so the SFA has never charged a club based on the conduct of their supporters…?
Stewart Regan @StewartMRegan · 44m44 minutes ago
@mrewanmurray for our own competitions where we have jurisdiction. And we have also been charged by UEFA – who operate strict liability
Stewart Regan@StewartMRegan @weehairy @mrewanmurray we are a members’ organisation – in 2012 we attempted to introduce UEFA style strict liability. It was defeated.
Ewan Murray @mrewanmurray · 43m43 minutes ago
@StewartMRegan not good enough, Stewart.
Stewart Regan @StewartMRegan · 38m38 minutes ago
@mrewanmurray what’s your suggestions then Ewan?
Ewan Murray @mrewanmurray · 35m35 minutes ago
@StewartMRegan what was really telling about Sunday was rest of country saying “What the **** happened there?!”.. Governing bodies go mute..
Stewart Regan
@StewartMRegan @mrewanmurray well?
keith jackson @tedermeatballs · 36m36 minutes ago
@StewartMRegan @mrewanmurray For some reason – I don’t know why – you provoke this negativity. Ever think resignation might be the answer?
Ewan Murray @mrewanmurray · 35m35 minutes ago
@tedermeatballs @StewartMRegan nothing to do with “negativity” Stewart.. A basic, glaring, embarrassing case of wrongdoing. Which you ignore
crawford says:
February 6, 2015 at 10:37 pm
I have a wee theory about why there is the odd thumbs down:
I have only recently got a tablet – Xmas prezzie.
I have bad artritis in my fingers and have difficulty with mobile typing etc.
I often tap on a TD when meaning to hit TU.
It’s a b***er to sort.
Maybe some folk do the same and don’t notice – or can’t be bothered sorting it.
Just a theory 🙂
Sometimes though, you get a succession of single TDs for pretty neutral posts! Oh, and lots of TDs for posts about…TDs/TUs
Okay, left field time.
I believe the 3Bs and King are nearing a point where they will consider taking action to separate TRFC from Ibrox, MP, the car park and everything that has a fixed charge.
Ashley has played his hand and is prepared to leave the stage provided his commercial interests are ensured. His loans defaulting will guarantee that no one touches his other interests, lest they lose
The Rangers EGM statement was very entertaining, notwithstanding all the gear-grinding “the company which previously ran Rangers Football Club” moments.
Have read and re-read the Requisitioners general meeting announcement and thought on each reading, WOW….
What a public skewering the Mr King received. I would imagine the legals would surely have cleared the content in the announcement.
Anyway I’m now wondering if tomorrow’s papers will publish the notice verbatim in the same way that King and co’s press conference q & a seemed to be breathlessly presented?
Pretty sure there will be lots if editing in this one rather than full publication but I would love to be proved wrong.
easyJambo says:
February 6, 2015 at 10:49 pm
What’s that one about the three wise monkeys?
S – no evil, F – no evil, A – no evil.
Then there’s a 4th; do no good!
A good question to ask Regan might have been, if the SPFL took no action over a player being racially abused by thousands of morons in the crowd, would the SFA still sit back and say, nowt to do with us? UEFA would love you for that!
Ecobhoy
I’ve posted before about a statement by John Reid at the Celtic AGM of 2011 or 12 about what Celtic stood for.
I asked what the RFC equivalent was because it looked easier to see what they stood against than for.
Is that still an underlying cause of their inability to unite then develop in a healthy fashion?
It seems they allow what they are against to define them, like being against coming second to other Scottish clubs.
Maybe not a full answer but a part of it.
Mr DKC has been publicly outed in the only place it actually matters, the financial market. The worlds biggest.
Papers matter nought. he has been fronted where he previously believed he could be believed.
He’s deluded.
Kicker Conspiracy says:
February 6, 2015 at 10:55 pm
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The Rangers EGM statement was very entertaining, notwithstanding all the gear-grinding “the company which previously ran Rangers Football Club” moments.
=============================================
That company (RFC PLC) did previously run “Rangers Football Club” until it ceased to operate as a football club in 2012. That company is currently being liquidated (and the club is but a distant memory to all but the MSM and OF worshippers :irony: ).
RIFC PLC runs “The Rangers Football Club”, which has a very similar name and not as easy to distinguish as its original name of Sevco Scotland.
Both clubs existed at the same time for a short while, as shown in the paperwork attached to the Brechin City game in the Ramsden’s Cup, when all the TRFC players were on loan from RFC. MA has some way to go with the Gerdies to beat a whole on-loan matchday squad as achieved under
.
http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2986&newsID=10252&newsCategoryID=1
really took them for a ride, and it’s a really tough call to decide on the gullability rankings in the ongoing farce. 😯 )
The above details some of the points from the 5WA and the birth of the new club prior to its bow at Brechin, and it states the following “Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club”, which is probably the basis of ND’s interesting interpretation of insolvency law. (
Just a few points.
I expect Lalit Modi is a Dave King squirrel, similar in nature and habitat to Ashley’s Carver variety. They may have met on occasion in South Africa. Not seen that mentioned here yet, but it is late on a Friday evening.
For Crawford: many clubs actually were in existence prior to the date shown as founding, and quite often by a year. As a simple example, Stenhousemuir FC has 1884 on all their paraphernalia, yet was playing in 1883.
TSFM is a bit too far concentrated on Ibrox affairs, while, in my thought, mind, it should be the SFA and SPFL leadership under the spotlight. Nice to see Regan active tonight right enough.
Finally, the thumbs up or down can be quite difficult to register, for me, on a mobile device. In any case, they don’t really matter.
It appears that an Indian Spiv by the name of Lalit Modi is keen to buy into TRFC at a time when the club is in turmoil
Which begs the question
Why?
Why are the Spivs behind Margarita and Blue Pitch willing to sell their shares now ?
Why is the only person prepared to buy their sharers also a Spiv ?
IMO
There is a strong likelihood that if the King group gain control on 4 March one of the first actions they will take is to expose the people behind Margarita and Blue Pitch
If a major backer of Margarita and Blue Pitch is indeed Mike Ashley then it would make sense for him to get out before he is exposed
And who better to sell the shares to than another Spiv who could be relied on to buy the shares from a nominee holder without knowing who the nominee represents
Assuming this is the case
If these shares change hands before the EGM King is likely to win control
And
If these shares haven`t changed hands before the EGM
Then either the EGM will be superceded by an insolvency event
Or
King will fail to gain control
borussiabeefburg says:
February 6, 2015 at 11:45 pm
Finally, the thumbs up or down can be quite difficult to register, for me, on a mobile device. In any case, they don’t really matter.
+++++++++++++++++++
I suggested that TU/TD should be scrapped a long time back, maybe just after TSFM started up? So far as I can see, the feature has no positive impact, and is wide open to exploitation/manipulation by PR trolls. How about dropping the feature for a trial period?
AIM rules
http://www.londonstockexchange.com/companies-and-advisors/aim/advisers/rules/aim-rules-for-companies.pdf
Of possible interest from a quick skim through
11 General disclosure of price sensitive information
13 Related party transactions
40(et seq) Precautionary Suspension
Companies Act 2006: Shadow Directors (one for MA)
http://www.legislation.gov.uk/ukpga/2006/46/section/251
i would keep thumbs up thumbs down – it can keep some egos in check
The TU/TD feature was a rod we made for our own back I’m afraid. I think it was introduced “because we could”, but through time I feel it brings almost zero value to the blog, and often causes confusion. It is very much open to abuse and PR campaigns, and on more occasions than are healthy, comments target maximum TUs.
I would have dispensed with it a very long time ago, but people are pretty attached to it. What really is annoying is when people complain that they get TDs, or cite the amount of TUs a post which has been moderated received 🙁
Maybe a break would not be a bad thing?
re TU/TD:
Its feedback not score keeping.
This is a text (and emoticon) only environment.
Where the feature is useful is as follows:
(a) determining topicality and relevence. Where I see a cited post that might be long, but has a high score (TU or TD) I will read it. Where I see a 1 line quip with a high score (TU/TD) or a link with a high TU/TD I will think about it or follow the link.
And where I see ramblings of the ill informed like myself being ignored I will allow a cursory scan, nothing more.
(b)In an environment where the nuances of non verbal communication is largely impossible and the immediacy is such that editing and spelling mistakes are unavoidable, it can be useful to highlight misunderstandings in syntax and context and can illicit appropriate qualification or elucidation.
As such it has value.
It is not and should not be a scoring system.
It is – if you will – the equivalent of a fontsize on a newspaaper. It doesn’t change the factual content in any way, only its initial impact upon cursory glance.
It is useful as a triage for the casual or time limited browswer, and increases the accessibility of the content to non-core participants.
It serves as a hook.
Losing it would make the blog harder for me to read.
I am an ICTFC fan. I am not a PR troll.
I’d personally rather see less salient contributions left in place and downweighted by the scoring system, rather than being cropped out by judicious editing and quite strong moderation – its an ethos thing – but I fully respect and admire the benificent intent that underpins those who administer this operation, (although the moderation can seem a wee bit calvinist on occasions. Nevertheless Maybe it needs to be. C’est la guerre)
On Easy Jambo’s post 10.49 pm Stewart Regan asking how do you arrest thousands of miscreants. Isn’t it standard practice for law and order people to target and arrest ringleaders? Does S. Regan really not know this?
Allyjambo says:
February 6, 2015 at 11:03 pm
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easyJambo says:
February 6, 2015 at 10:49 pm
What’s that one about the three wise monkeys?
S – no evil, F – no evil, A – no evil.
Then there’s a 4th; do no good!
A good question to ask Regan might have been, if the SPFL took no action over a player being racially abused by thousands of morons in the crowd, would the SFA still sit back and say, nowt to do with us? UEFA would love you for that!
___________________________________________
When a wayawrd microphone picked up a swear word from an individidual Celtic manager that was aimed to be part of a private conversation or at worst a pejorative outburst without victim, the SFA thought fit to act punitively.
When almost an entire stand choose to deliberately and vociferously violate the laws of the land with proscribed songs such that they cannot fail to be picked up by the broadcasters of 52 nations… the SFA choose… deafness!
Why are we even pretending these guys are other than utterly corrupt???
Dave King FPP?
Dave King is the pure platonic definition of an FPP in the eyes of the SFA leadership! Yesterdays speech confirms that. They are singing from the same sheet (or songbook!).
No other interpretation withstands the scrutiny of available evidence.
End of!
Regan asks for solution to naughty songs sung by ‘000s problem.
Could someone twitter him and say its simple. Have the balls to dock points and you’ll find it self polices very effectively!
The very least Regan and cohorts could do, and could have done, would be to condemn the singing and its illegal nature, and to indicate its intention to act were it repeated. That should have happened in 2012 after the infamous post admin Kilmarnock game. Whatever happened to that investigation? Or after Brechin? Or Berwick? When a blind eye is turned to persistent law breaking by the relevant authorities they cease to be authorities and cease to be relevant in combating the problem. By inaction they become a cornerstone of the problem itself. They give it succour, they legitimise it, they accept it, and ultimately normalise it.
As regards the EGM announcement. I think it indicates a willingness of Ashley to play hardball. The timing means that the club has to get more Ashleycash before the meeting, and that Ashley can do due diligence before releasing it. I expect an ultimatum. Ashley will only release the cash if the threat of King’s election to the board, and the threat to remove Llambias are not both lifted. If the requisitioners persist, Ashley will allow the company to cease trading. In those circumstances the club/ company separation myth may be exploded by a real world reality of their sameness.
redlichtie says:
February 6, 2015 at 8:34 pm
43 2 Rate This
Brilliant Redlichtie, hotel voice best done in Tim Curry (home alone 2) style.
I love TU/TD. It indicates the level of interest in a particular post, and increases your concentration upon particular posts that have sparked interest. I regard a TD as a positive. Someone is engaging and disagreeing, and this is healthy. An even split means that the community is split and such posts often generate the most interesting subsequent discussions. A blizzard of TDs usually indicates very quickly that a post ought to be examined by the mods PDQ, to check for trolling or for offensive content, although a blizzarded TD post, may still be important and relevant to debate as it may articulate a relevant, if unpopular, perspective which has a right to be aired.
Jings, whit wiz Stuart Regan on last night? Just picked up his extended twitter lines via @McNallyMirror. Is @stuartmregan a spoof account? Hard to believe it’s really him. On the other hand…
ecobhoy says:
February 6, 2015 at 8:19 pm
=====================================
I agree that Rangers worldwide support is nowhere close to what it is portrayed, but London is not the other side of the world and I expect a significant amount will make themselves known at the EGM. If this transpires to chaotic scenes like the recent Hearts game, at least we know the London media won’t refuse to report it, like the media in Scotland have previous for.
Thanks to The Cat NR1 for the post above providing a link to the SFA’s statement on the transfer of SFA membership to Sevco Scotland Ltd in 2012.
http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2986&newsID=10252&newsCategoryID=1
When Stewart Regan and his colleagues are deliberating over the suitability of Dave King to be a Director of the SFA’s newest club, they might want to ponder what Regan said immediately prior to Charles Green’s tenure began.
“There were a number of complex and challenging issues involved but, primarily, the Scottish FA had to be satisfied that the new owners of Rangers would operate in the best interests of the club, its fans and Scottish football in general.”
So, just how did that one work out Stewart? 🙄
It is getting to the stage now that the Rangers circus is farcical, the SFA are completely useless at running the game for the benefit of the whole league but doing rather well as the administrative wing of the Ibrox club, keeping that out of bother.
Good also to see that the new compliance officer is following the proud tradition of being aye ready to ignore bad behaviour on and off the pitch from Ibrox.
I believe that FFP should be introduced from next season with draconian powers that the SPFL operate, surely by now most of the other clubs must realise that the bilge coming out of Ibrox needs to be swept away, busted flush does do them justice.
I’d expect a few more doings on the pitch will be last straw for a few bears ……. Crowds down vicious cycle downwards
Reference Regan approach to singing of abusive songs. If it was just 1 or 2 we could have done something. In fact if it was just 1 or 2 we would not have heard them .
In fact nothing to hear here let us just move on. My opinion of course.
Highlander says:
February 7, 2015 at 8:11 am
“There were a number of complex and challenging issues involved but, primarily, the Scottish FA had to be satisfied that the new owners of Rangers would operate in the best interests of the club, its fans and Scottish football in general.”
___________________________________________
In that statement, Regan sets out what the SFA should have done, but failed. What he said in that statement is what they should be doing now, but are failing to do.
These failures are what has led to the influx of spivs and wealthy undesirables into Scottish football via Ibrox.
‘Failure To Act’ should be added to the SFA badge.
Apologies as this is a few days late but I saw a comment on here the other day in which the “Sons of Struth” had been assured by someone on the Board that “Rangers” “owned” Ibrox.
If anyone from Sons of Struth is reading this I have copied below for your benefit section 50 of the Land Registration Scotland Act 2012. See in particular subsection (3)
50 Transfer by disposition
(1) A disposition of land may be registered.
(2) Registration of a valid disposition transfers ownership.
(3) An unregistered disposition does not transfer ownership.
(4) Subsections (1) to (3) are subject to—
(a) sections 43 and 86, and
(b) any other enactment or rule of law by or under which ownership of land may pass.
(5) In subsection (1), “land” includes land held on udal title.
would FFP work if the whole team or a good part are loaned ?
Mr Reagans comments are astounding in their ineptitude. No do not arrest them all just do not sell them any more tickets or shut the ground or do one of the numerous things which UEFA has done when other racist or illegal behaviour has occurred. Calculated silence on offence after offence is dereliction of duty. This is not the 1920s when such nonsense was not seen as unacceptable. -rant rant rant rant
A number of weeks ago, Ann Budge spoke out about sectarian singing, and other issues, at Tynecastle. Regardless of how it was received, she showed she had the guts to speak out and give the issue a vital airing. Thanks to this gutless response from Regan and the rest at Hampden, she would have been as well avoiding the hassle her statement gave her.
Perhaps there’s no facilities for ladies in Scottish football’s collective bunker! No doubt Stewart Regan will already be looking into this problem and inviting her in very soon.
Assuming the Stewart Regan twitter conversation is not a spoof (you can never tell, as the SFA have pretty much moved beyond satire these days), I can see why Regan usually chooses silence! Unless there are missing tweets, Ewan Murray did not suggest that the crowd should be arrested, and the point appears to have been a flimsy ‘straw man’ argument put up by SR.
If they are going to continue their current path, I suggest that the SFA might consider adopting an old phrase as their official motto:
‘Better to remain silent and be thought a fool than to speak and to remove all doubt’.
Catching up on SR’s twitter triumph 😯
The SFA
Useless Then,
Useless Now,
Useless Forever.
“The earth is round”
Any takers MSM/PR lackeys?….
If we’re going to start off with all posts being automatically given three thumb-downs, then in all fairness I suggest that the the event of a TU/TD tie, TUs should count double. Either that or a penalty shoot out, but that might be more difficult for TSFM to arrange.
theoldshed says:
February 7, 2015 at 9:36 am
Is the suggestion that, although an unregistered disposition doesn’t confer ‘ownership’, it could be in existence and registered at any time, thus changing ownership from the date of registration? Perhaps held unregistered until an existing dispute over ownership (by Sevco 5088) is settled or a future event occurs? This unregistered disposition might allow RIFC to legally (not breaking company laws/rules)state TRFC currently owns Ibrox, even if they are aware that a future event might change that!
Machiavellian City FC might like this 😆
Wee Stew @StewartMRegan is already up tweeting with the larks. Seemed to say last night that a UEFA-style ‘liability’ (?) was defeated — by the SFA! I take it he means some kind of sanctions for offensive chanting/singing.
Today, he’s now moving swiftly back to his uncontroversial topic of a winter break. He’s probably just enjoyed one himself and no doubt thinks it’s a great idea. Worth every penny of his salary that man :irony:
These from last night are worth posting verbatim:
Tartanwulver says:
February 7, 2015 at 10:07 am
If we’re going to start off with all posts being automatically given three thumb-downs, then in all fairness I suggest that the the event of a TU/TD tie, TUs should count double. Either that or a penalty shoot out, but that might be more difficult for TSFM to arrange.
————————————————————-
I think there there might be more visitors to the site from outside the usual TSFM base – taking a read but necessarily agreeing with what’s written. Personaly I don’t see that as a problem
Highlander and Allyjambo
“There were a number of complex and challenging issues involved but, primarily, the Scottish FA had to be satisfied that the new owners of Rangers would operate in the best interests of the club, its fans and Scottish football in general.”
—————
As part of the due diligence, I assume a business plan was presented (though that’s maybe too much to expect going by the amateur PowerPoint that was leaked). I think I’ve said this before but either
a) what has happened since is in line with what was presented and accepted – in which case resignations should have been tendered before now
or
b) what has happened since is not in line with what was presented and accepted – in which case action should have been taken before now and/or resignations tendered
If Charles Green was the acceptable front for hidden investors, that should have been a red, not green flag, to the SFA.
By their own statements, actions and inactions, they have made themselves redundant. They are, for the most part, casual observers of the game here. Again, the clubs seem content with that – something I don’t understand.
Worse than that, the SFA have not just opened the door to criminals and asset strippers, they’ve wedged it wide open and are parading up and down the street with a loud hailer so that everyone knows it. They cannot tell right from wrong. It’s as simple as that.
The Gregory King hedge fund – which appeared to have disappeared along with the founder and $600 million – has very close connections to Glasgow and allegedly some of its better-known legal fraternity.
There have been many pointers on the internet for months allegedly tying in a prominent player in the Rangers pantomime however I have no doubt all will become known before too long.
The SMSM are well aware of the connection and have chosen, as usual, not to investigate or ask any questions.
Bits of background to the story about Glaswegian King can be found at:
http://like-profit.com/scottish-hedge-fund-cheated-investors-600-million/
PS: Afaik there is no connection with his namesake DK other than sharing the same surname.
Tincks says:
February 7, 2015 at 10:19 am
I think there there might be more visitors to the site from outside the usual TSFM demographic – taking a read but necessarily agreeing with what’s written. Personaly I don’t see that as a problem
—————————————-
Each to their own, all the readers here will have their own differing opinions, I agree that’s no problem at all. But sometimes little groups of TDs appear in concert and attached to every single post. Again not a problem, not even an irritation, but no harm in poking a bit of fun back at them I think.
Flocculent Apoidea says:
February 7, 2015 at 10:21 am
Worse than that, the SFA have not just opened the door to criminals and asset strippers, they’ve wedged it wide open and are parading up and down the street with a loud hailer so that everyone knows it. They cannot tell right from wrong. It’s as simple as that.
================================================
Well said. Nail, head, hit squarely.
A footnote to Ewan Murray’s twitter discussion with Stewart Regan last night.
Ewan Murray @mrewanmurray · 1m1 minute ago
Still waiting on my letter from the Compliance Officer… Off to Livingston in the meantime.