The Blind Men and the Elephant, a cautionary tale

ByTrisidium

The Blind Men and the Elephant, a cautionary tale

A Guest Blog for TSFM by beatipacificiscotia

As a child I read a poem by John Godfrey Saxe, “The Blind Men and the Elephant”, and stumbled upon it again recently.  It is a simple tale of how six blind men encounter an Elephant and attempt to describe the animal:

It was six men of Indostan
To learning much inclined,
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.

The First approached the Elephant,
And happening to fall
Against his broad and sturdy side,
At once began to bawl:
“God bless me! but the Elephant
Is very like a WALL!”

You get the idea.  The other blind men did little better.  The second grabbed the tusk and thought the elephant like a spear.  Others thought the elephant like a snake (the trunk), a tree (the leg), a fan (the ear), and finally a rope (the tail).  What does this have to do with this blog?  Let me explain.

There is a danger of all of us, whether consciously or unconsciously, making the same mistake as these blind gentleman.  It is too easy to use the parts of the argument that fit our values and belief system, at the expense of the whole truth.  The 13th century Jaina scholar, Mallisena, described a much earlier version of the same tale as a parable to argue that people deny various aspects of truth; deluded by the aspects they do understand, they deny the aspects they don’t understand.  He said:

“Due to extreme delusion produced on account of a partial viewpoint, the immature deny one aspect and try to establish another. This is the maxim of the blind (men) and the elephant.”

I am incapable of putting it any better than that, though I would go further.  I argue that people are deluded by the aspects that they choose to understand, and deny the aspects that they refuse to understand.  Which leads me to my tale …..

I have recently read a news report about a decision taken by the Advertising Standards Authority on advertising activities of The Rangers Football Club Ltd and their claims to history and honours.  It includes the following quote referring to advice from the SFA:

“We also consulted with the SFA, which confirmed that its definition of a football ‘club’ varied depending on context, and could sometimes refer to an entity separate from the club’s corporate owner.”

I was most unhappy to read this part of the statement.  I am yet to see the definition or statement of when you could “sometimes refer to an entity separate from the club’s corporate owner”.  This is a contradiction to the definition of a football club given by FIFA; a definition which is handed down to the Confederations, and from Confederations to Associations. 

You may or may not be aware, the application of good governance in football is administered through club licensing.  This annual process ensures that minimum standards are maintained, to promote growth and development, and ultimately protects all of football – every club, every player and staff member, the integrity of every competition, suppliers of goods and services, the reputation of sponsors, and most of all the fans.  FIFA Club Licensing Regulations state that a license applicant must be a football club, defined as:

“Legal entity fully and solely responsible for the football team participating in national and international club competitions that applies for a licence.”

This is a clear and unambiguous definition, which is being ignored by the SFA.  Why is this issue so important?  Simply, a football club must be held responsible for its commercial activities.  For example, an over-ambitious and over-spending Rangers changed the Scottish football landscape forever.  Other clubs tried to compete in an unsustainable “Cold War”-like football arms race.  I believe Scottish football was damaged.  Many clubs have been taken to the brink of death.  This could happen in any country, in any league, anywhere in the world.  For that reason, a football club and its corporate body must be one and the same, living or dying, inseparably intertwined.  The separation of club and company is a myth, a myth dangerous to good governance.  Rangers (1872-2012) should be a cautionary tale told to every club owner.

There are many benefits to club licensing.  These including minimum standards for stadia and infrastructure, youth development programs, and much more.  I would heartily recommend that you read the FIFA document if you have the time. It gave birth to the word and spirit of Financial Fair Play.  Look at some of the financial benefits detailed:

 

10.3  Benefits

Implementation of the financial criteria will help deliver both short and long-term improvements for clubs, the licensors and the football family in general.  For the football family in general, the financial criteria should help to:

• safeguard the continuity and integrity of competitions;

• increase the transparency and credibility of clubs’ financial operations;

• improve confidence in the probity of the football industry;

• create a more attractive market for the game’s commercial partners and investors; and

• provide the basis for fair competition, because competition is not just about the teams on the pitch.

 

For the licensors, the financial criteria should help to:

• improve their understanding of the financial position and prospects of their member clubs;

• encourage clubs to settle liabilities to creditors on a timely basis;

• enhance transparency in the money flow of clubs;

• enhance their ability to be proactive in assisting clubs with financial issues; and

• provide a starting point for club benchmarking at a national level for those licensors and clubs who want to develop this aspect.

 

For the clubs, the financial criteria should help to:

• improve the standards and quality of financial management and planning activities;

• enable better management decision-making;

• enhance clubs’ financial and business credibility with stakeholders;

• improve financial stability; and

• enhance revenue-generating ability and cost management.

 

Important words, and I trust the value and opportunity these regulations offer are now clear.  Note bullet points 3 and 4, and that our top league currently does not have a sponsor.  The SFA must ensure the integrity of competitions, discourage financial recklessness, and protect football for everyone.  This is only possible with a clear, unambiguous statement that confirms club / company are one and the same thing.

To suggest a football club can in some way survive liquidation is to undermine the definition of what is a football club, one of the cornerstones of FIFA Club Licensing Regulations.  For the SFA to suggest a football club can in some way survive liquidation, or allow this belief to go unchallenged, is a shameful dereliction of duty.  It puts all of football in danger.  We cannot allow this.  There is too much at stake.

The poem ends thus:
And so these men of Indostan
Disputed loud and long,
Each in his own opinion
Exceeding stiff and strong,
Though each was partly in the right,
And all were in the wrong!

The blind men were each partially right, though in their vanity / stubbornness / ignorance they failed to find the truth.  There is a lesson for us all in this story.  This may appear to be an attempt to renew the old club / new club debate.  It is not.  To see this as an opportunity to score points against Rangers fans is to completely miss the point – you have failed to find the truth.

This is global issue affecting one of the fundamentals of good governance.  Good governance must be the beating heart of our game – ensuring good health and long life.  I am looking at the here and now, and ahead into the future. 

We must protect and promote ALL of the FIFA Club Licensing Regulations.  To deny any part is to refuse to see the whole elephant, like the foolish blind men.

About the author

Trisidium administrator

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

1,867 Comments so far

AllyjamboPosted on11:42 am - Feb 6, 2014


As far as I’m aware, the only truly wealthy people to invest their own money at a football club in Scotland are Fergus McCann and Dermott Desmond, and neither of them threw in more than they were confident and capable of getting out. They both took a risk, but it was a controlled one, and didn’t rely on future moonbeams, but on their own abilities to turn around an ailing business. Again, McCann started from a position nowhere near as bad as TRFC and Desmond took over the reins to provide continued stability, rather than limitless funds. To achieve parity with Celtic, or even touch their coat-tails, TRFC need similar people, with a similar mentality, to first aim for stability, then look to invest further to challenge at home and abroad. Sadly, for them anyway, the bears won’t allow this. They want a David Murray, they’d hate a Fergus McCann!

On a similar note; would Fergus McCann come in to rescue Celtic today if they found themselves in the mess they were in now instead of 1994, with the different economic state of the country and the number of failing businesses. I wonder if he’d feel it possible with the cost of player wages alone being so prohibitive. Being the hard nosed businessman he is, would he have considered the risk viable? Not suggesting he wouldn’t, but there is so many different, unfavourable factors to consider now, though Murray’s not around, but we still have to look at the strength of Celtic as a factor for a TRFC version of McCann to consider.

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CampbellsmoneyPosted on11:56 am - Feb 6, 2014


briggsbhoy says:
February 6, 2014 at 11:41 am

I’m pleased to report she is still breathing and is still the same lady I married 25 years ago, no one else is wearing her clothes and reporting to be her, it is definitely the same women

—————————————————————————————————————————————-
Plural? 😯

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tomtomPosted on11:58 am - Feb 6, 2014


briggsbhoy says:
February 6, 2014 at 11:41 am
0 0 Rate This

I’m pleased to report she is still breathing and is still the same lady I married 25 years ago, no one else is wearing her clothes and reporting to be her, it is definitely the same women 😉
================================

If she’s the same “women” then that’s all the proof you need that she is in fact not the same person. Unless of course she’s like mine and has more faces than Eve 🙄

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Madbhoy24941Posted on12:00 pm - Feb 6, 2014


Mandrake Root says:

February 6, 2014 at 10:33 am
————————————————-

I will not comment much on the obvious disregard for Motherwell, Aberdeen and the likes who should rightly see that 2nd place as achievable as any other team in the League, including Rangers.

My main point is the illusion that an increase in the number of teams will automatically bring about a huge increase in revenue, which is not the case. The only way to increase the revenue for competing clubs is to get more sponsorship from the big countries; they are already at the limit in my opinion.

The only reason for the big teams to vote on expansion is due to boredom on the format and the same teams appearing every year.

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SmugasPosted on12:03 pm - Feb 6, 2014


AJ

I know what you mean regarding Desmond and McCann having the prudence to only throw in what they can get out, but that shouldn’t belittle the efforts of Eddie Thompson and Stewart Milne, to name but two of several, who continue to throw it in albeit in more modest amounts when they know damn fine it aint coming back!

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MoreCelticParanoiaPosted on12:04 pm - Feb 6, 2014


easyJambo says:
February 6, 2014 at 8:10 am
11 0 i
Rate This

ecobhoy says: February 6, 2014 at 7:50 am

Best of all relates to the Blast Zone on the eastern boundary of Westthorn created by almost half-a-million casks of whisky and other spirits in 19 bonded and maturing warehouses. This potential hazard means a significant portion of Westthorn can’t be used for residential housing which drastically reduces the useable land area and explains the reduced sale price paid by Celtic.
————————————————-
I haven’t read the blog, but the idea of blast zones isn’t as bizarre as it first appears.

Hearts have exactly that problem with the distillery behind the Roseburn (Away) end off the ground. The storage of large amounts of ethanol there were cited by the HSE when recommending against planning consent being given to replace the old main stand back in 2011.

HSE’s restrictions extend to a large proportion of the Tynecastle site, limiting the scope for development of the site. The HSE recommendation however, can be appealed and I’m sure that Hearts would have done if they actually had the money to build a new stand.

These images show how the site’s development is restricted.
http://i.imgur.com/W9SDDgj.jpg
http://i.imgur.com/eqen1xy.jpg
_____________________________________________

Texas Fertiliser Plant Explosion occurred less than a year ago demonstrates the need for these regulations

http://www.bbc.co.uk/news/world-us-canada-22219735

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chancer67Posted on12:04 pm - Feb 6, 2014


@ecobhoy

It seems the Land Expert Bear has it in for you,and when pointed to read your take on the Westhorn saga claimed that he only deals in facts.

He is trying to recruit the legal reporter of the Drum to his cause, and it lookd like he was getting close until someone directed Mr Coleman to this site and in particular your posts

I noticed he was sent a link to your posts by the Drum reporter but as is the way with them he is still sticking to his fairy tale of corruption between Celtic and GCC

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GeronimosCadillacPosted on12:05 pm - Feb 6, 2014


Allyjambo says:
February 6, 2014 at 11:42 am

Again, McCann started from a position nowhere near as bad as TRFC and Desmond took over the reins to provide continued stability, rather than limitless funds. To achieve parity with Celtic, or even touch their coat-tails, TRFC need similar people, with a similar mentality, to first aim for stability, then look to invest further to challenge at home and abroad. Sadly, for them anyway, the bears won’t allow this. They want a David Murray, they’d hate a Fergus McCann!
____________________________________________________________

Even more sadly – the bears don’t have and won’t have any say in the type of person who owns and run their club much in the same way that Celtic didn’t when Fergus arrived.

They have no power other than a boycott of everything Rangers but they won’t use it because, in their weary minds, they are trying to preserve something other than football at Ibrokes.

As for wealthy men losing their money in the Scottish football money pit you left out John Boyle who lost around £10m at Motherwell.

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SmugasPosted on12:08 pm - Feb 6, 2014


Madbhoy24941 says:
February 6, 2014 at 12:00 pm

The only reason for the big teams to vote on expansion is due to boredom on the format and the same teams appearing every year.
————————————————

So what we need is someone who can repackage plain bread and sell it to people who are sick fed up of bread as being new bread whilst moving heaven and earth to make sure that only plain bread remains on the shelf with all the other new fancy types stacked on a pallet to be wheeled out only as and when required.

We might get rid of Doncaster yet then!

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CarntynePosted on12:21 pm - Feb 6, 2014


Although not a foregone conclusion, perhaps if Rangers 2 are liquidated they might consider naming any further incarnation of the Ibrox club after another Glasgow team, Third Lanark, which died after experiencing money troubles in the 1960’s.

‘Third Rangers’ has a nice ring to it.

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m.c.f.c.Posted on12:26 pm - Feb 6, 2014


Someone Desperate to Reassure The Bears ?

Wonder why RIFC plc have chosen “jocko2” on lse.co.uk to reveal very positive and very price sensitive information.to the market. Never underestimate the gullibility of punters or the cynicism of spivs and their PR gurus.

Today 12:05 jocko2 Rangers Revenue 25.50 Hold
Just some figures that have been passed to me as of January 2014…player wage/ revenue 38%….Projected total staff costs cut from £30m in June 2013 to £15.2m in January 2014. CEO review is not finished and expect further reductions. Company is trading robustly. No word of CEO walking as of yet. Joan I would not worry there is a lot here not financial whizz kids its evident. When I invested in Rangers I never expected to make money

http://www.lse.co.uk/SharePrice.asp?shareprice=RFC

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torrejohnbhoy(@johnbhoy1958)Posted on12:29 pm - Feb 6, 2014


futbol on February 6, 2014 at 11:40 am
6 0 Rate This

Tic 6709 says:
February 6, 2014 at 11:36 am

Imran in court today,is our intrepid reporter JC going ?

Yes today was the date. 9.30 I beleive for some sort of preliminary hearing.

In other news I have heard from a good source that there is a press conference imminent at Ibrox.
——————
Press conference could be because of tomorrow nights cup tie.
Reports on Monday that less than 10k tickets have been sold.
May not be the payday Sevco or DAFC were hoping for.

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ecobhoyPosted on12:43 pm - Feb 6, 2014


MoreCelticParanoia says:
February 6, 2014 at 12:04 pm
easyJambo says:
February 6, 2014 at 8:10 am
ecobhoy says: February 6, 2014 at 7:50 am

Texas Fertiliser Plant Explosion occurred less than a year ago demonstrates the need for these regulations
http://www.bbc.co.uk/news/world-us-canada-22219735
——————————————————————————————————
Tbh there is no need to look beyond Glasgow and Cheapside Street on the banks of the Clyde to see why strict regulation is required as I pointed out in an early post on the subject.

On the night of 28 March 1960 a fire and explosion in a whisky bond claimed the lives of 19 Glasgow Fire Service and Salvage Corps men when the explosion in the a Victorian warehouse – which housed 1 million gallons of whisky – caused the walls to buckle and engulf the victims and their tenders.

I was there on the night and suffice to say I will never forget it as I watched jakies drinking whisky flowing in the gutters while the fire raged and exploding barrels flew through the air in a surreal firework display . . . meanwhile Heroes died.

Anyone who wants to read more can check: http://en.wikipedia.org/wiki/Cheapside_Street_Whisky_Bond_Fire

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futbolPosted on12:46 pm - Feb 6, 2014


Apologies if I missed it but I haven’t seen anyone refer to this: http://www.scotsman.com/sport/football/spfl/sfa-called-on-to-resolve-hearts-rangers-10-debts-1-3296062

Amateur and youth sport is at the bottom of the pile in this country and suffering further from the impact of the Commonwealth Games as access to facilities has bottlenecked.

At the same time Glasgow’s pretend charity/council (chouncil?) is doubling rates in some cases and the paltry tenner is not finding its way down to these teams.

On a related note, it infuriates me (in a way I find difficult to express in words) that I drive past two public (private) school grounds that I have NEVER seen in use and would provide smaller clubs and teams of any sport with ample facilities. Where is the public benefit? Where is OSCR? Toothless as ever.

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Paulmac2Posted on12:48 pm - Feb 6, 2014


I seem to remember back in the RTC days…a similar scenario of a Company owned by CW requiring proof of funds for a takeover…subsequently a Company through an associate that CW was involved with suddenly produced the required confirmation of funds…it subsequently all went teets if I remember correctly…

So what is to stop GW receiving a letter from a Company associated to an investor turning up to provide the comfort deloittes need?

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Paulmac2Posted on12:53 pm - Feb 6, 2014


Not sure but from memory a shareholder may sell his shares privately to the Company they are held in…..I believe this can also happen if trading is suspended.

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erniePosted on1:01 pm - Feb 6, 2014


Mandrake Root says:
February 6, 2014 at 10:33 am
=============================
Interesting subject MR and one I keep an eye on. The big teams all want to get bigger whilst limiting the opportunities for any wee teams to break through, fair enough. They also see a more regular European League fixture list as being a megabux earner, also fair enough. It’s the other bit of the proposition that interests us diddies i.e. less domestic games in order to fit in these mega Euro ties. It’s this point that has (so far) stopped the “big” teams from merely organising a 64, or whatever, big boys league. They need the various contries Associations and leagues to buy in. And it’s at this point that I hope and pray that the diddy Leagues grow some cojones and and specifically require full membership and participation or none at all. Sky/BT et al can big up anything but at the end of the day the “big” teams need leagues to play in or it’s just a collection of Harlem Globetrotter franchises playing each other.
On the rather irrelevant point of whether Celtic or Rangers&Celtic qualify all I can say is I wish them both success in their search for a better competition. Unfortunately I expect that the SFA/SPFL would bend over backwards and reconstruct the rest of us to suit.

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CampbellsmoneyPosted on1:10 pm - Feb 6, 2014


Paulmac2 says:
February 6, 2014 at 12:53 pm

Not sure but from memory a shareholder may sell his shares privately to the Company they are held in…..I believe this can also happen if trading is suspended.

——————————————————————————————————————————————
Any such transaction would need shareholder approval (i.e. an EGM)

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wottpiPosted on1:11 pm - Feb 6, 2014


Allyjambo says:
February 6, 2014 at 11:42 am

Sorry to give you more names but while they may be Edinurgh’s ‘wee club’ one wealthy man invested when required, provided finance, guarantees etc and while he has got a return like McCann, he has obviously been a guiding hand behind a club that now boasts a decent totally revamped stadium and a well regarded training facility.

http://www.scotsman.com/sport/football/latest/hibs-reveal-depth-of-farmer-s-investment-1-887467

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ecobhoyPosted on1:11 pm - Feb 6, 2014


Hoopy 7 says:
February 6, 2014 at 11:22 am
As my granny and the grannies of many on here have already said, “Hell mend them”
==============================================
Funny – you took me back there!

One of my Irish grannies said that in what to me was softer Dublin tones and the other – from Donegal – never said it as I don’t think she was very interested in ‘mending’ such people. Her deep wish was that they ‘rot’ or ‘roast’ in Hell and my wee granny always scared the life out of me me with the force that utterance was usually delivered.

I could never work out as a child which would be worse – not sure I can yet 😆

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James DolemanPosted on1:12 pm - Feb 6, 2014


Off topic but another tale of corruption and intrigue unfolding

http://www.thedrum.com/opinion/2014/02/06/phone-hacking-trial-case-prosecution

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hectorPosted on1:13 pm - Feb 6, 2014


Phil is back on the airwaves with a new post.If you are aRangers man with a squeamish disposition look away now. Ouch 😯

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Galling fiverPosted on1:18 pm - Feb 6, 2014


Firstly spivs still control TRFC, otherwise why do the bears need to buy them out?

Secondly, Investing in a start up club seeking a return from the CL pot of gold ???

There is gold, but the pot belongs to the spivs.

IMO, I don’t see how the bears think there is an easy/quick way out. If its going to be an easy/short return, then the spivs will stay to milk it.

And if they sell it back, it’s because its in the spivs interest to do so, financially. Either way, I think their f….d, and we shall see how many of them disagree when the buyout fund gets started and promptly stopped or blagged by the spivs.

And as previously stated, some clubs are already achieving much better results with only small improvements in their budgets/prospects so far, and I honestly hope that trend gathers momentum. It would create another problem for operation dump the debt, and prolong this ghastly Armageddon 😆 .

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ecobhoyPosted on1:20 pm - Feb 6, 2014


m.c.f.c. says:
February 6, 2014 at 12:26 pm
Someone Desperate to Reassure The Bears ?

Wonder why RIFC plc have chosen “jocko2″ on lse.co.uk to reveal very positive and very price sensitive information.to the market. Never underestimate the gullibility of punters or the cynicism of spivs and their PR gurus.

Today 12:05 jocko2 Rangers Revenue 25.50 Hold
Just some figures that have been passed to me as of January 2014…player wage/ revenue 38%….Projected total staff costs cut from £30m in June 2013 to £15.2m in January 2014. CEO review is not finished and expect further reductions. Company is trading robustly. No word of CEO walking as of yet. Joan I would not worry there is a lot here not financial whizz kids its evident. When I invested in Rangers I never expected to make money.
========================================
I’m a bit out of the loop on the financials but could the £15.2m not just be football staff costs and not the total ones which were given as £30m. And has the security staff costs been hived-out to the separate security company rather than showing through TRFCL as previously when the security was contracted out?

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Danish PastryPosted on1:38 pm - Feb 6, 2014


hector says:
February 6, 2014 at 1:13 pm
3 0 Rate This

Phil is back on the airwaves with a new post.If you are aRangers man with a squeamish disposition look away now. Ouch
———

Positive description of Graham Wallace, struggling against the culture of Walternomics …

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CampbellsmoneyPosted on1:38 pm - Feb 6, 2014


PM’s latest blog includes the suggestion that a properly run administration allows contracts to be terminated effectively “cost-free”.

That is correct for most contracts (at least in the sense that the administrators can refuse to perform the contracts and the other party will then have a claim in the administration for breach of contract).

If you are going to propose a CVA, that means those parties will have a vote (remember one vote for £1 owed). Remember also the “connected party” rule for CVAs. You need to get 50% of the unconnected creditors to vote in favour.

I say “most” contracts. Terminating employment contracts in “Planet Fitba” gives rise to football debt. Big football debt if there are expensive contracts for long periods. Someone will have to pay them or they won’t get very far. (Or at least – that is the way it has always been to date).

Rules E17-E19 state that if there is “a Remuneration Default” then the “Club” (ah ha ha ha ha ha ha ha) that is in default will not be permitted to register any players.

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Mandrake RootPosted on1:40 pm - Feb 6, 2014


Quite disappointed to see another festival of TD’s… I don’t see how a capable, and yes rich, person could not get a return from the team formerly known as Rangers. I’m not for a second trying to insult Motherwell, Aberdeen or any other team that I’m sure would make it very difficult for RIFC should they ever get into the top division.

Common sense surely tells us that they still have a very large following and it’s likely that they will become a threat again at some point in the future. I’m not saying this as a secret Rangers fan either, very much the opposite in fact.

My point is this. What do you think a team from Govan who are in the CL every season and enjoy all the sponsorship, corporate benefits and TV money that goes along with that would be worth? Liverpool, a club of similar size, are worth around £400m if I’m not mistaken. If we look 10 or 20 years into the future the CL will probably expand even further, as the big teams start to outgrow their own domestic boundaries. This strengthening of the CL structure will probably mean a weakening of money on offer for the domestic leagues, resulting that the huge discrepancy in values between top Scottish and English clubs being somewhat reduced.

In this case I think we could see the Ibrox club being worth a significant sum, maybe in excess of £100m. Much more than it would cost to buy the assets from the firesale that’s coming soon and fund the three or four years of losses that we’re all forecasting (which I’m sure could be cut dramatically should someone who works there buy a calculator or think of employing somebody who can work one).

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ianjsPosted on1:40 pm - Feb 6, 2014


Allyjambo says:
February 6, 2014 at 8:44 am
ecobhoy,
I know you’ve been criticised for your continued postings re the ‘Bear Land Experts’ but I, for one, find them most amusing and enlightening.
———————————————————————————————–
I second that emotion. The information ecobhoy provides, proves conclusively that the media are not fit for purpose, and blogs like TSFM are vital.
“asking the questions the media won’t ask”.

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Kicker ConspiracyPosted on1:46 pm - Feb 6, 2014


Mandrake Root says:
February 6, 2014 at 1:40 pm

Liverpool, a club of similar size

__________________________

Seriously?
In which respect?

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Madbhoy24941Posted on1:48 pm - Feb 6, 2014


Just read the blog from Phil, it reminds me of some of the tough decisions that Fergus McCann had to make when he arrived. There were so many people there not really providing value to the business but with emotional and long held ties to the Club.

But he was there to do a job so when he stopped at a guy standing against a door to the stadium and asked “what do you do here?” the reply of “I am watching the door” was met with a quick fire “why, what does it do?”

This on a non-match day was not value add and had to be removed so he did it, tough for some of the old guard but needs must…..

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SmugasPosted on1:51 pm - Feb 6, 2014


MR

Or alternatively there could be an invite only set up to which Celtic were invited and TRFC were not. And then I would laugh. A lot.

In answer to your question. To make money in life you have to have money. No-one with (their own) money seems to stay at Ibrox very long.

Next.

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hamemadesoupPosted on2:04 pm - Feb 6, 2014


Mandrake Root says:
February 6, 2014 at 1:40 pm
0 3 Rate This

Quite disappointed to see another festival of TD’s…

—————————————

The tsunami of TD’ s is probably because everyone realises that nobody is going to throw the guts of 100m at Scottish football , never mind throwing it at one team . If , a big if , Sevco do make it to a champions league slot , it’s a good 7 or 8 years away . If that earns them 10m a season , it’ll be nearly twenty years before they break even ( sorry beancounters , that was a quick ‘ fag packet’ calculation) . There will be NO sugar daddy
. 😉

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sickofitallPosted on2:05 pm - Feb 6, 2014


http://www.eveningtimes.co.uk/ranger…1110n.23368031

SDS chief Paul Goodwin has previously estimated that 25,000 Rangers fans paying £20 a month would be enough to gain control of the Ibrox club.

It is believed that fans could be asked to part with £18.72 a month – Rangers was founded back in 1872 – in order to achieve this goal.

Just admit the truth and charge £20.12 a month

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Danish PastryPosted on2:09 pm - Feb 6, 2014


Mandrake Root says:
February 6, 2014 at 1:40 pm
———

Stockbridge mentioned rainbows and pots of gold. Blue Pitch have £50m burning a hole in their pocket too. So there’s no need for all this panic. A stooshie in a tea cup, no doubt 🙂

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SmugasPosted on2:09 pm - Feb 6, 2014


sickofitall says:
February 6, 2014 at 2:05 pm

Outstanding Sir. Have a 😆

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m.c.f.c.Posted on2:09 pm - Feb 6, 2014


ecobhoy says:
February 6, 2014 at 1:20 pm

m.c.f.c. says:
February 6, 2014 at 12:26 pm
Someone Desperate to Reassure The Bears ?

Wonder why RIFC plc have chosen “jocko2″ on lse.co.uk to reveal very positive and very price sensitive information.to the market. Never underestimate the gullibility of punters or the cynicism of spivs and their PR gurus.
========================================
I’m a bit out of the loop on the financials but could the £15.2m not just be football staff costs and not the total ones which were given as £30m.
========================================
Eco – the numbers could be anything or nothing – not worth thinking about imho. Just another rat in a fur coat.

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andygraham.66Posted on2:12 pm - Feb 6, 2014


Liverpool – A Club of comparable size to Rangers.

I’ve often wondered down through the years how big Rangers actually are(were). It’s very easy living in the west of Scotland, seeing buses leave your home town to go watch this team as your own team struggles to reach a 4 figure attendance, to read stories in the papers every day about them and see news bulletins at night also feature some snippet. It made you think they were massive.

Recent history has shown us that they weren’t a rich club, they were the Lehmann Brothers of the football world, where all it would take was a bad period in the financial world to tip them over.

So how big were they in a global scale. When they went to the wall it hardly merited a few lines in English papers and I assume none throughout Europe.

For me growing up, Rangers were the biggest club in Scotland, Celtic were the biggest Scottish club in the world, however strange that statement may sound. That may or may not be fact, but its how it looked to me.

Events of the last two years has shown that many in this country, unfortunately a lot of that “many” being influential people in position, require there to be a football club not only playing as the club of the establishment but also that this club must be in all ways considered to be a continuation of the club that suffered most from the afore mentioned credit crunch.

For all the effort that has went in to keep this entity afloat no matter how hard it has tried to implode for a second time, and that they are still the talk of pubs, workplaces and social media throughout the land on a daily basis.

Are they/were they really that big a club?

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hectorPosted on2:14 pm - Feb 6, 2014


All this talk about furry animals like squirrels is missing the point. If what Phil has posted is even half right there will be a massive mole hunt going on down Govan way as the info if correct has to come from near the seat of power. 😆

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ecobhoyPosted on2:16 pm - Feb 6, 2014


ianjs says:
February 6, 2014 at 1:40 pm
Allyjambo says:
February 6, 2014 at 8:44 am
ecobhoy,
I know you’ve been criticised for your continued postings re the ‘Bear Land Experts’ but I, for one, find them most amusing and enlightening.
———————————————————————————————–
I second that emotion. The information ecobhoy provides, proves conclusively that the media are not fit for purpose, and blogs like TSFM are vital. “asking the questions the media won’t ask”.
—————————————————————–
Thanks ianjs and Allyjambo. Maybe I need to do an Ally and demand the names 😆 But I haven’t noticed any real criticism or I would have responded in my own particular fashion 😉

My position is quite clear that when I started to see the corruption claims against Celtic, Glasgow Council, the Health Board and numerous other public bodies and public servants I tended to dismiss it out-of-hand possibly because the concept wasn’t really imaginable to me.

However, when I saw the State Aid claim being made to the EC I decided to have a look at the ‘evidence’ which had been gathered to support the case. I started with Lennoxtown and literally within a couple of hours knew it was nonsense and said so.

I moved onto Westthorn and similarly found that the evidence didn’t hold water even though the reservoirs did thanks to those navvies 🙂

I have never had a Bear challenge my very clear statements on either issue which disappoints but doesn’t surprise me. I have also monitored the responses on Darkside sites to the allegations from the land ‘experts’ and have found almost universal acceptance of them despite the obviously flawed basis they rest on and the total ignorance displayed of planning and land sales especially where abnormal ground conditions apply.

But I learnt a helluva lot about Bears in general who praised and lauded the Land ‘Experts’ unreservedly and told them to keep at it to expose the corruption and bring Celtic down. Not one offered any constructive criticism of the flawed arguments and fiction which was peddled. Were they scared, are there no Bears left with any expertise in the relevant fields or do they just want to sit back and let others do it for them.

I think the latter is very much the case from my observations and that’s why they will never get it together enough IMO to buy the club just like they could only raise 40K signatures over 12 months for the anti-HMRC petition even with all the cheating (They required 100K to have a chance of having it debated in Parliament). So they wait for their cargo-cult Sugar Daddy which means they will have a long wait which might end with a plane falling from the skies – same as a train wreck really.

I am pretty sure that if I had posted on here the kind of twaddle and nonsense that the land ‘experts’ did on the Darkside then I would have, quite rightly, been ripped apart by many posters.

However their whole land thing seems to be running out of steam and I have the sneaking suspicion they have had bad news from the EC on their State Aid case 😳

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m.c.f.c.Posted on2:17 pm - Feb 6, 2014


Mandrake Root says:
February 6, 2014 at 1:40 pm

In this case I think we could see the Ibrox club being worth a significant sum, maybe in excess of £100m. Much more than it would cost to buy the assets from the firesale that’s coming soon and fund the three or four years of losses that we’re all forecasting (which I’m sure could be cut dramatically should someone who works there buy a calculator or think of employing somebody who can work one).
=================================================================================
When I feel blue in the night
And I need you to hold me tight
Whenever I want you, all I have to do is
Dream
Dream, dream, dream, dream

http://www.youtube.com/watch?v=tbU3zdAgiX8&feature=kp

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AllyjamboPosted on2:20 pm - Feb 6, 2014


Smugas says:

February 6, 2014 at 12:03 pm

Wasn’t my intention to belittle those people, nor any other owners who finance their clubs to the best of their ability, just pointing out that the only people with such great wealth to successfully create the kind of team TRFC expect to be, are McCann and Desmond. Any others, Romanov and Murray as examples, to throw great wealth at their clubs have used other people’s money, and made a pig’s ear of it!

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TorquemadaPosted on2:25 pm - Feb 6, 2014


There may be legal reasons Hearts cannot pay the £10 — the club is still in administration and the no preferred creditors rule may be a constraint — but Sevco stiffing a boys’ club for £20 and being reported to the SFA is surely humiliation off the radar. 

Has no one connected to that loathsome organisation the slightest hint of shame?

Memo to self: Get a grip, Torq — what a stupid question.

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SmugasPosted on2:31 pm - Feb 6, 2014


hector says:
February 6, 2014 at 2:14 pm

All this talk about furry animals like squirrels is missing the point. If what Phil has posted is even half right there will be a massive mole hunt going on down Govan way as the info if correct has to come from near the seat of power.
———————————————————
I don’t think you’ve to dig too deep do you?

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AllyjamboPosted on2:33 pm - Feb 6, 2014


wottpi says:

February 6, 2014 at 1:11 pm

I don’t think a Tom Farmer would be any more welcome down Govan way than a Fergus McCann type would be. My point, however, was to highlight these two men as the only ones who’ve brought the level of success to a club, Celtic, that TRFC, and it’s supporters, expect. They’d no doubt accept a Romanov, though, as they’re quite at ease with the possibility of liquidation, as long as trophies are won on the way and they have men in place at the SFA.

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Madbhoy24941Posted on2:35 pm - Feb 6, 2014


Torquemada says:

February 6, 2014 at 2:25 pm

There may be legal reasons Hearts cannot pay the £10 — the club is still in administration and the no preferred creditors rule may be a constraint — but Sevco stiffing a boys’ club for £20 and being reported to the SFA is surely humiliation off the radar.
———————————————————-

You might find this to be standard practice at all the Clubs, not just the 2 mentioned. It’s just that these 2 Owe Money to that specific Club (or to The SFA depending how it is setup).

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Exiled CeltPosted on2:39 pm - Feb 6, 2014


Bill1903 says:

February 6, 2014 at 2:13 pm

Mandrake Root says:
February 6, 2014 at 1:40 pm

Liverpool a club of similar size
————————————————

[]

I was lucky – my teenage/youth years were late 70’s though 80’s when apart from 2 blip years under Jock Wallace, RFC-NIL was as Alex Ferguson would say, a noisy neighbour. Our rivals were Aberdeen and Dundee Utd, with Hearts later on once they were promoted. All RFC-NIL had going for them to differentiate them from the rest of the clubs plying their trade was their proud tradition and history of not allowing certain people to play for them. Also every close season it would be their year…until Oct………….then there would be 5-0 thrashing at Pittodrie with a few sendings off to embarrass themselves. They were all during my youthful attendances at games not so much a rival but an irritant.

I remember going to a derby game (I don’t like that firm phrase – never have!) and having 50% split of Ibrox – half main stand and enclosure, half Govan stand and the Broomloan.

Thankfully I emigrated (OT – thanks for looking after Scotland Maggie!) before the 90’s supremacy took effect.

If I were to compare RFC-NIL to an English club it would be more like Leeds – someone who had a few good years in the 70’s and think they are still something. (Edit to add) Had also more good times recently but it has been shown to have been done by using other folks money!

If I were to compare TRFC to an English club it may be someone like Bolton – big stadium, rubbish team and going nowhere fast.

But Liverpool? 4 times winners of a cup RFC-NIL never ever got near? Yer having a laff!

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ForresDeePosted on2:39 pm - Feb 6, 2014


Just read Phil’s latest,

Could Graham Wallace actually be his source? 😉

I still think that they will try to sweep it under the very lumpy SFA carpet and carry on as if nothing has happened!

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Tic 6709Posted on2:58 pm - Feb 6, 2014


vPhil MacGiollaBhain ‏@Pmacgiollabhain · 5m
I am hearing that the media folk in the Big House are refusing-point blank-to discuss the VAT issue with Glasgow based hacks

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m.c.f.c.Posted on3:00 pm - Feb 6, 2014


ForresDee says:
February 6, 2014 at 2:39 pm

Just read Phil’s latest,
Could Graham Wallace actually be his source? 😉
================================================================
probably not – too dodgy for a kosher CEO to be giving out price sensitive info like that – but Philip Nash – with a nod and a wink from Graham – now there’s a possibility.

Edit: Phil’s comments have recently taken on a more strident theme of fact and certainty.

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SmugasPosted on3:03 pm - Feb 6, 2014


I remember some discussion on here before that Sevco’s VAT would be either monthly or quarterly and that normal terms are to the 7th of the month following.

So, presumably we’re saying that either January’s VAT (ouch) or Nov/Dec/Jan’s VAT (big ouch) is due in 36 hours time? 😯

Just noticed that smiley is called ‘shock’ so no, that’s definitely not the one to use…

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CampbellsmoneyPosted on3:08 pm - Feb 6, 2014


Regarding the Musselburgh Windsor FC claim

£10 due by Hearts. As a matter of insolvency law it is an unsecured claim in the administration. As a matter of SFA stuff – dunno – but anyway the administrators’ time costs in dealing with a £10 claim make it uneconomic to do so. And if they deal with one small ordinary unsecured claim (no matter how apparently deserving) why shouldn’t they pay them all? (Here is a clue – there is not enough money)

£20 due by Rangers As a matter of insolvency law as above – depends upon when the debt became due and payable – oldco or newco.

Anyway – lex non curat de minimis – harsh as that may seem.

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Carl31Posted on3:15 pm - Feb 6, 2014


If I were to compare RFC-NIL to any club, it would be to one that went bust.

If I were to compare where the current club might have the potential of reaching, with that of another club’s potential, it would be a different matter.

The business model of the old club is a failed one. The business model of the current club cant be judged with confidence since those running it til now …. er … lets just say they are at the other end of the honesty scale from Shakira’s Hips. Indications are that the current business model is near failure without complete overhaul.

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scottcPosted on3:16 pm - Feb 6, 2014


Re the alleged cut in staff costs from £30m

According to Brian Stockbridge’s report in the 2013 accounts the wage bill to June 2013 had already been ‘reduced’ to £17.9m. The £30m presumably relates to the former club.

As for the 38% player costs, were they not trumpeting all over the airwaves a week or two ago how it was “under 30%”?

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m.c.f.c.Posted on3:26 pm - Feb 6, 2014


“jocko2” getting savaged on http://www.lse.co.uk/SharePrice.asp?shareprice=RFC

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Exiled CeltPosted on3:27 pm - Feb 6, 2014


http://www.clyde1.com/news/local/green-may-give-evidence-as-imran-seeks-rangers-payout/#.UvOnVqoPB70.twitter

Green May Give Evidence As Imran Seeks Rangers Payout

Posted on Thursday 6 February 2014

Rangers former chief executive could be called to give evidence in a Scottish court as a former commercial director at the club seeks a £500,000 payout from the Ibrox club.

Imran Ahmad, whose employment with the Glasgow club was terminated last year, maintains that he is due the bonus money in an action being contested by Rangers.

His counsel, Kenny McBrearty QC, told a judge today that Charles Green was on his list of witnesses ahead of a hearing in the case.

Mr McBrearty said that while Mr Ahmad’s solicitors have spoken to Mr Green they would want a meeting with him to clarify his witness statement.

The Yorkshireman took up the position as Chief Executive Officer at Ibrox after leading a consortium to buy the assets of the stricken Rangers Football Club plc.

But he left the role last year and is now living in France.

In his action Mr Ahmad maintains that under the terms of a contract provision he would be entitled to a bonus of five per cent of commercial contracts negotiated by him subject to written approval from the CEO or chairman.

He said that a letter from the then CEO Mr Green had set out confirmation that his bonus for 2013 would be “no less than 500K”.

He claims that Mr Green had the express authority of the board at Rangers to agree his bonus.

Mr McBrearty told Lord Woolman in a commercial action at the Court of Session in Edinburgh that since a previous hearing in the action adjustments had been made to the pleadings for Mr Ahmad to clarify matters.

He said it was contended that “the letter at the heart of the case” from Charles Green to Mr Ahmad was to be treated as written approval of a bonus of pounds 500,000 in terms of a clause in the ex-commercial director’s contract.

The senior counsel said it was also being asserted that Mr Green had the authority of the board which had been given at a meeting when Mr Ahmad was not present.

He said it had always been Mr Ahmad’s position that there was authority on the part of the former CEO to provide written approval of the bonus, but what had changed was that it was now being said there was express authority from the board on the issue.

Mr McBrearty said that during the adjustment period in the case there had been no activity from the football club’s side at all.

He said Mr Ahmad “might have been forgiven for thinking rigor mortis had set into the defender’s case”.

But Alan Summers QC, for Rangers countered that he was not aware of any rigor mortis on his part.

He said there remained the difficulty of reconciling the terms of the letter with the clause in the commercial director’s contract.

Under the clause the way the bonus was calculated was to work out what five percent of the commercial contracts was, but it could not have been known to Mr Green at that point what the value of the contracts would have been, he said.

Four days of court time have been allocated to hear evidence and submissions in the case.

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manandboyPosted on3:28 pm - Feb 6, 2014


With money reportedly running out at Ibrox

and VAT, reportedly, a banned subject of conversation,

as a taxpayer, I’m beginning to feel a little poorer already.

I used to rely on Hector for security in these matters

but more recently, I’ve begun to suspect

that HMRC is not the force as once was,

specifically in the matter of monitoring and collecting monies due

from football clubs in Govan

who have a proven track record of disregard

for the Taxpayer

and for Her Majesty’s fiscal responsibilities.

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John ClarkPosted on3:28 pm - Feb 6, 2014


Tic 6709 says:
February 6, 2014 at 11:36 am
futbol says:
February 6, 2014 at 11:40 am
———-
Imran in Court.
I had thought of attending Imran’s wee appearance in Court today, but it looked like there was only some procedural stuff to be decided, so I gave it a miss.
If a full hearing is scheduled and I get to know the date ,I’ll definitely try to attend.

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John ClarkPosted on3:29 pm - Feb 6, 2014


briggsbhoy, I have replied with thanks.

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Paulmac2Posted on3:33 pm - Feb 6, 2014


scottc says:
February 6, 2014 at 3:16 pm
……………………………
The IPO prospectus had the staff numbers both playing and non playing at 176….costing a total of £3.5 million pounds a month to pay…approx. £42 million a year…Stockbridge then had that down to £17.9m by June 2013…

I would be sceptical of this persons claims…

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John ClarkPosted on3:33 pm - Feb 6, 2014


Exiled Celt says:
February 6, 2014 at 3:27 pm
—-
I’ve just seen your post! No date is reported in that account, so I suppose we’ll just have to keep scanning the Rolls of Court.

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Exiled CeltPosted on3:34 pm - Feb 6, 2014


More Ally nonsense………..”or indeed whoever is running the SPFL” – again whistle blowing for the attack dogs! Get a leash on him!

http://sport.stv.tv/football/clubs/rangers/263136-ally-mccoist-id-have-bet-on-ibrox-not-being-picked-for-league-cup-final/

Ally McCoist has quipped he would have bet on Ibrox not being chosen by the SPFL as the venue for the 2014 Scottish League Cup final.

Celtic Park will host the fixture on March 16, with Aberdeen taking on Inverness Caledonian Thistle for the trophy.

Asked if he was surprised his club’s ground had been overlooked for the occasion, McCoist replied: “Not surprised at all.

“I did say to the chief executive that if we were allowed to bet, which of course we are not, get a few quid on the cup final not being at Ibrox.

“I just didn’t think it would be. It was my own opinion.

“I think obviously Neil [Doncaster], or indeed whoever is running the SPFL, made the decision and they’ll stick by it.”

In an interview with STV on Wednesday, SPFL chief executive Doncaster said Ibrox couldn’t be used because it was likely a live game would be played at the ground the day before, causing logistical problems for television companies.

McCoist refuted that suggestion, saying: “I’ve worked with television long enough that I know these boys are unbelievable at their job in terms of de-rigging and setting up for games.

“Come on. That doesn’t wash with me and I don’t think it washes with you either.”

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Exiled CeltPosted on3:39 pm - Feb 6, 2014


john clarke says:

February 6, 2014 at 3:33 pm
Exiled Celt says:
February 6, 2014 at 3:27 pm
—-
I’ve just seen your post! No date is reported in that account, so I suppose we’ll just have to keep scanning the Rolls of Court.

*****

JC – if Charles is there, you may have to brush up on your French since Big Hauns is now called Grandes Mains Et….now that his residence (acknowledgement to the Peepil for provision) is in France………….he is a linguist as we saw at Brechin………..he is also very cunning too…………so as Benny Hill would say that makes him a………

I’ll get my coat………….

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m.c.f.c.Posted on3:40 pm - Feb 6, 2014


Exiled Celt says:
February 6, 2014 at 3:34 pm

More Ally nonsense………..
=============================================================================
No journo managed to squeeze in a cheeky question about VAT then. I’m sure Ally’s “no comment” would have filled a few column inches 🙂

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John ClarkPosted on3:40 pm - Feb 6, 2014


Campbellsmoney says:
February 6, 2014 at 3:08 pm
‘…Anyway – lex non curat de minimis – harsh as that may seem.’
——-
Indeed it doesn’t.( and , on that Latin tag, I once had the devil’s own job trying to convince the big boss’s right-hand woman that the phrase was not “de minnniemouse”)
But that reported instance of bigger clubs being either very very fast and loose in their daily administration or, worse, deliberately not paying their smaller ‘suppliers’ is maybe an indication that in the football world,ordinary,decent standards of business behaviour are somewhat lacking.

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SmugasPosted on3:43 pm - Feb 6, 2014


Its not nonsense at all.

You and I both know that the reason that the final is not at Ibrox is nothing to do with television companies either!

I did like the “whoever is running the SPFL” bit. Very good Ally, I see what you did there 😉

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StevieBCPosted on3:44 pm - Feb 6, 2014


Exiled Celt says:
February 6, 2014 at 3:34 pm

Ally McCoist has quipped he would have bet on Ibrox not being chosen by the SPFL as the venue for the 2014 Scottish League Cup final…

Asked if he was surprised his club’s ground had been overlooked for the occasion, McCoist replied: “Not surprised at all.

“I did say to the chief executive that if we were allowed to bet, which of course we are not, get a few quid on the cup final not being at Ibrox…”
==============================
And any journalist could have just as easily ‘quipped’ back to McCoist;

“Do you know Ally if any of the ‘100 Scottish football gamblers’ from your own list managed to get a bet on ?”

Sounds like McCoist has just abandoned the cheeky chappy routine altogether now – is he getting bitter…? 😆

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Exiled CeltPosted on3:48 pm - Feb 6, 2014


Smugas says:

February 6, 2014 at 3:43 pm

Its not nonsense at all.

You and I both know that the reason that the final is not at Ibrox is nothing to do with television companies either!

I did like the “whoever is running the SPFL” bit. Very good Ally, I see what you did there 😉

************

Agreed – but the nonsense I was referring to was same as your point – the call to his support base for the unseen hand portion – have added that to my post for clarity – apologies!

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slimshady61Posted on3:52 pm - Feb 6, 2014


sickofitall says:
February 6, 2014 at 2:05 pm
——————————————
This supporters’ take over nonsense is just that, nonsense. it is predicated on two things that will not happen:-
1) the various Rangers’ factions unite;
2) the share price for RIFC stays static at 25p

I have long been convinced that most people who support Rangers do so more for what they represent than what they actually do on the football pitch, and that has been borne out by the singular failure of the fans to unite when most needed – February 2012.

Nothing is going to change there anytime soon,, in fact there are now more “official” factions than there were 2 years ago….

The share price will do one of two things; either it will drop to 1p or it will start to go back up in value. Either way, it is a waste of time having a new fighting fund.
————————————————-
manandboy says:
February 6, 2014 at 3:28 pm
————————————————
No change there then. It was always a mystery to most, but perhaps not all, how Rangers managed to run up a £9M tax bill between September 2011 and February 2012 and seemingly no-one at HMRC was doing anything about it.

So some continuity there for “Rangers”, it seems. HMRC should be collecting the VAT, preferably in person, and on a monthly basis, to best protect the UK tax base.

Perhaps the file has got lost in the labyrinth of Portcullis House.

64.8 (54 plus VAT) to 0 (0 plus VAT)

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Carl31Posted on3:53 pm - Feb 6, 2014


Smugas says:
February 6, 2014 at 3:03 pm

I remember some discussion on here before that Sevco’s VAT would be either monthly or quarterly and that normal terms are to the 7th of the month following.
So, presumably we’re saying that either January’s VAT (ouch) or Nov/Dec/Jan’s VAT (big ouch) is due in 36 hours time?
Just noticed that smiley is called ‘shock’ so no, that’s definitely not the one to use…
=========

Smugas,
The last time an Ibrox club went bust owing this kind of tax, it was a fair bit more than 1 month behind.
If there is anything in the rumour that VAT might be a current issue, and I’m not saying it is, then could it be that BS had been indicating it was being paid, but was not being paid?

If so, I fear the worst for this current incarnation of Rangers.

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John ClarkPosted on3:56 pm - Feb 6, 2014


Exiled Celt says:
February 6, 2014 at 3:34 pm
‘……“Come on. That doesn’t wash with me and I don’t think it washes with you either.”’
——-
Ally has supped with too many devils ever to be seen as any kind of honest broker or decent chap: if he ever was one.

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BarcabhoyPosted on3:56 pm - Feb 6, 2014


The scenario described in Phil’s article points to something beyond spivvery. It points to extreme incompetence.

The scenario facing Wallace isn’t just a resistance from controlling shareholders to do the right thing, its the challenge of being able to achieve the right outcome even if there was no resistance.

The fundamentals of this business are crazy. The infrastructure costs render the business unviable unless there is a season ticket base of 40,000 paying £500 each AND European income with an efficient and profitable merchandising and catering operations. Even with all of that it would still be necessary to have a bank facility to cashflow the business through January to June.

Murray was so incompetent that he also had to have Ticketus throw short term cash flow as well as ALL of the above, and a bank who lent him money to pay their interest charges. In short this is a business ( the ownership of a football club playing at Ibrox ) which has not been run efficiently for nearly 40 years , no matter who was signing the cheque.

Wallace is faced with the reality that Rangers can no more afford the vanity project that is Murray Park than Celtic can afford to sign a squad of £10 million players. The difference is Celtic know this and plan accordingly.

There is a truth that is completely unpalatable to the Rangers support, and this is that the future, if by some miracle money appears to provide a future, is beyond bleak.

The Wallace survival plan would include the following real world realities.

No Murray Park
A management team with a total wage bill of £300,000
A Football squad with a total wage bill of £2,000,000
A 50% increase in season book prices.
No CL football for 10 years , if even at that point

So in a sense King is correct when he says Rangers need investment to avoid all of that. Although investment is the wrong word, because investment suggests at least the possibility of a return on that investment. What is needed is a gift. A fresh injection of capital with absolutely no expectation of a return. Wallace knows that this will not come from legitimate sources, and he wont hang around if there is any attempt to introduce questionable funding.

Which leaves very unpalatable options. Just as well the SFA have no interest in “fit and proper” because unfit and improper is the only option from here on .

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briggsbhoyPosted on3:57 pm - Feb 6, 2014


just sent you msg JC

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thepinkpantherPosted on4:04 pm - Feb 6, 2014


Please remember this. In an answer to my question on this blog,last summer.
The last time a team playing out of Ibrox that was winning the league,(spending their own money)was the early sixties and a couple of years under the management of Jock Wallace ,in the late seventies! Everything else since then, well !!

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ecobhoyPosted on4:16 pm - Feb 6, 2014


http://sport.stv.tv/football/clubs/rangers/263136-ally-mccoist-id-have-bet-on-ibrox-not-being-picked-for-league-cup-final/

Basically McCoist is publicly branding Doncaster a liar – I won’t hold my breath waiting for any disciplinary action for bringing the game into disrepute.

However – by dragging Wallace into one of his bitter-chappy quips is he angling for the boot with 12 months Full celery – and I’m sure it with be FULL! Beats walking away with nothing 😆

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ecobhoyPosted on4:16 pm - Feb 6, 2014


http://sport.stv.tv/football/clubs/rangers/263136-ally-mccoist-id-have-bet-on-ibrox-not-being-picked-for-league-cup-final/

Basically McCoist is publicly branding Doncaster a liar – I won’t hold my breath waiting for any disciplinary action for bringing the game into disrepute.

However – by dragging Wallace into one of his bitter-chappy quips is he angling for the boot with 12 months Full celery – and I’m sure it will be FULL! Beats walking away with nothing 😆

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