Good Evening.
As we ponder the historic vote to create a new Governing body to oversee Scottish League football, I cannot help but wonder what brilliant minds will be employed in the drawing up of its constitution, rules, memorandum and articles of association?
Clearly, Messrs Doncaster, Longmuir and even Mr Regan as the CEO of the SFA will be spending many hours with those dreaded folk known simply as “ The Lawyers” in an attempt to get the whole thing up and running and written down in the course of a few short weeks.
In truth, that scares me.
It scares me because legal documentation written up in a hurry or in a rush is seldom perfect and often needs amendment—especially when the errors start to show! The old adage of beware of the busy fool sadly applies.
It also scares me because the existing rules under which the game is governed are not, in my humble opinion, particularly well written and seem to differ in certain material respects from those of UEFA. Even then, adopting the wording and the approach of other bodies is not necessarily the way to go.
I am all in favour of some original thought– and that most precious and unusual of commodities known as common sense and plain English.
Further, the various licensing and compliance rules are clearly in need of an overhaul as they have of late produced what can only be best described as a lack of clarity when studied for the purposes of interpretation. Either that or those doing the studying and interpreting are afflicted with what might be described as tortuous or even tortured legal and administrative minds.
If it is not by now clear that the notion of self-certification on financial and other essential disclosure criteria necessary to obtain a footballing licence (whether European or domestic) is a total non-starter — then those in charge of the game are truly bonkers.
Whilst no governing body can wholly control the actions of a member club, or those who run a club, surely provisions can be inserted into any constitution or set of rules that allows and brings about greater vigilance and scrutiny than we have at present—all of course designed to do nothing other than alert the authorities as early as possible if matters are not being conducted properly or fairly.
However, the main change that would make a difference to most of the folk involved in the Scottish game – namely the fans— would be to have the new rules incorporate a measure which allowed football fans themselves to be represented on any executive or committee.
Clearly, this would be a somewhat revolutionary step and would be fought against tooth and nail by some for no reason other than that it has simply not been done before—especially as the league body is there to regulate the affairs of a number of limited companies all of whom have shareholders to account to and the clubs themselves would presumably be the shareholders in the new SPFL Ltd.
Then again to my knowledge Neil Doncaster is not a shareholder in The SPL ltd– is he?
I can hear the argument that a fan representative on a league body might not be impartial, might be unprofessional, might be biased, might lack knowledge or experience, and have their own agenda and so on—just like many chairmen and chief executive officers who already sit on the committees of the existing league bodies.
Remember too that the SFA until relatively recently had disciplinary committees made up almost exclusively of referees. I don’t think anyone would argue that the widening of the make up of that committee has been a backward step.
However, we already have fan representation at clubs like St Mirren and Motherwell, and of course there has been an established Tartan Army body for some time now. Clubs other than the two mentioned above have mechanisms whereby they communicate and consult with fans, although they stop short of full fan participation– very often for supposedly insurmountable legal reasons.
As often as not, the fans want a say in the running of their club, but also want to be able to make representations to the governing bodies via their club.
So why not include the fans directly in the new set up for governing the league?
Any fan representative could be someone proposed by a properly registered fan body such as through official supporters clubs, or could be seconded by the clubs acting in concert with their supporters clubs.
Perhaps a committee of fan representatives could be created, with such a committee having a representative on the various committees of the new league body.
In this way, there would be a fan who could report back to the fan committee and who could represent the interests of the ordinary fan in the street in any of the committees. Equally such a committee of fans could ensure that any behind the scenes discussions on any issue were properly reported, openly discussed, and made public with no fear of hidden agendas, secret meetings, and secret collusive agreements and so forth.
Is any of that unreasonable? Surely many companies consider the views of their biggest customer? This idea is no different.
Surely such a situation would go some way towards establishing some badly needed trust between the governing bodies and the fans themselves?
If necessary, I would not even object to the fan representatives being excluded from having a right to vote on certain matters—as long as they had a full right of audience and a full right of access to all discussions and relative papers which affect the running of the game.
In this way at least there would be openness and transparency.
In short, it would be a move towards what is quaintly referred to as Democracy.
Perhaps, those who run the game at present should consider the life and times of the late great Alexander Hamilton- one of the founding fathers of the United States of America and who played a significant role in helping write the constitution of that country.
Hamilton was a decent and brilliant man in many ways—but he was dead set against Democracy and the liberation of rights for the masses. In fact, he stated that the best that can be hoped for the mass populace is that they be properly armed with a gun and so able to protect themselves against injustice!
Sadly, Hamilton became embroiled in a bitter dispute with the then Vice President of the nation Aaron Burr in July 1804. Hamilton had used his influence and ensured that Burr lost the election to become Governor of New York and had made some withering attacks on the Vice President’s character.
When he refused to apologise, the Vice President took a whacky notion and challenged him to a duel! Even more whacky is the fact that Hamilton accepted the challenge and so the contest took place at Weehawken New Jersey on the morning of 11th July 1804.
The night before, Hamilton wrote a letter which heavily suggested that he would contrive to miss Burr with his shot, and indeed when the pistols fired Hamilton’s bullet struck a branch immediately above Burr’s head.
However, he did not follow the proper procedure for duelling which required a warning from the duellist that they are going to throw their shot away. Hamilton gave no such indication despite the terms of his letter and despite his shot clearly missing his opponent.
Burr however fired and hit Hamilton in the lower abdomen with the result that the former secretary to the treasury and founding father of the constitution died at 2pm on the twelfth of July.
The incident ruined Burr’s career (whilst duelling was still technically legal in New jersey, it had already been outlawed in various other states).
In any event, in Hamilton’s time full and open democracy in the United States of America would have met with many cries of outrage and bitter opposition. Yet, today, the descendants of slaves and everyone from all social standings, all ethnic minorities and every social background has the constitutional right to vote and seek entry to corridors of power.
In that light, is it really asking too much to allow football fans to have a say and a presence in the running of a game they pay so much to support?
the taxman cometh says:
July 10, 2013 at 11:09 pm
Sorry for being short with you, but the devil is in the detail. RFC(IA) increased the prices and then decided to pass the cash back to themselves.
—————————
AyeRightNaw says:
July 10, 2013 at 11:54 pm
The DR seems to have come to the opinion that it is a new club!
Murray statement
================
A diplomatic statement which only raises more questions.
Noticeable for no words of encouragement for the relatively new Chairman (and his friend?)
No words of encouragement for the relatively new Interim CEO either.
Hopefully he could balance this statement with some truth being leaked to the MSM – or Bampots?
Won’t hold my breath though.
ForresDee says:
July 11, 2013 at 12:05 am
Wonder if the caption will last til morning?
For those who can’t bring themselves to click on Record link the pic is of MM and the caption reads “Malcolm Murray, chairman of The Rangers FC”
Malcom Murray …
“The reason we went down the flotation route was to guarantee transparency, whereas ownership by mysterious individuals does not.
“Events of the last year have seen behaviour that would make the late, great Bill Struth spin in his grave.
“The loss of two men (Phil and myself) with such lengthy financial public company experience and a quality broker will undoubtedly raise questions amongst our institutional shareholders.
“Only time will tell how they will react
————————————————–
The removal of Murray and (as correctly scooped by PMG) of Cenkos has ensured the financial long term viability has been seriously undermined …. if not the short term !
Why no analysis of Murray statement
Murray in his letter to fans, ” I hope to be the only chairman in our history to preside over a Third Division title!”
What does he know?
newtz says:
July 11, 2013 at 12:17 am
Why no analysis of Murray statement
——————————
Ain’t that the question of the week. The simple answer is they don’t want to know what’s going on, plausible deniability!
“…The reason we went down the flotation route was to guarantee transparency, whereas ownership by mysterious individuals does not…”
===============================
That sentence caught my eye.
Transparency via flotation?
Don’t think so: even the IPO document itself had numerous errors, inconsistencies – and omissions.
Ownership by mysterious individuals: so what did he do to find out who these people are?
Is this supposed to be a ‘warning’ to other investors and fans?
newtz says:
July 11, 2013 at 12:17 am
To be fair I suspect lack of analysis this time is down to the rush to publish first. That would explain the lack of any response or rebuttal. A response will come and a new war of words through briefings and counter-briefings may well begin. There will be some analysis this time I expect as MM seems to be generally well respected away from ibrox.
Gaz says:
July 10, 2013 at 11:24 pm
‘..Apparently the salient points of an open letter from Malcolm Murray.’
——
Sob, bloody sob.!
This Murray represents what?
A decent, honest, sporting ethic, free of sectarianism and racism?
A wish to return to the former values etc etc?
Pours his bleeding heart out in a dog-whistling appeal for ‘support’ for the RFC of old, against the shysters and carpetbaggers?
Me, myself, personally, would sooner have the carpetbaggers, whose only motivation is personal profit, and who use ‘sectarianism’ only as a means to extract the maximum profit, rather than from any belief in the dead club’s special place.
In the overall context, Murray is, as it were, like the ‘heroes’ of “The Odessa File” , fighting to ‘restore’ the old ways, the golden age, when marble staircases really spoke to the heart of the ‘peepul’.
I have not an ounce of sympathy for, or empathy with, him.
And credit to the ,surprisingly non by-lined scribe in the Herald, who wrote as follows:
“…….. to the club which re-emerged in the Third Division last year following its descent into administration and then liquidation….”
“Re-emerged”.
Jaysus, what a way with words some of these guys/gals in the MSM have!
“Re-emerged” .
Drowned dead, re-emerged?
Buried, in law, in the liquefying waters of liquidation, and re-emerged?
Buried, in that wonderful Transylvanian way, as ‘un -dead’, and re-emerging from the grave to bite other suckers? Or, rather, to sucker other biters?
It gars me greet with amusement-and anger.
john clarke says:
July 11, 2013 at 1:44 am
For some reason the “Parrot sketch” comes to mind 😀
paulsatim says:
July 11, 2013 at 12:26 am
‘.. ” I hope to be the only chairman in our history to preside over a Third Division title!”
What does he know?”
—–
As the chairman of a one year old club, he could say little else! Onwards and upwards for the new club!
Malcolm Murray’s message is summed up as follows:
All the bad things about to happen are not my fault – a big boy did it and is still there – don’t blame me, even though my only role was supposed to keep an eye on them. I paid the electric bill in a 5 figure sum (was that 123.45 quid? Its a 5 figure sum) and got paid well for not doing very much. They made me drive to Brora instead of riding on the new bus. Videos and tapes were released to embarrass me but I decided not to comment on them – and with all the other shenanigans going on, I chose to remain silent. No time have I made any direct comment that showed I had a slightest concern over what was going on. The final straw was the photo at Brora, it was a leak too far.
54 shakes to 0 (copyright slimshady)
No mean spirited comment from me
Malcolm Murray spoke up
He could have publicly nailed the miscreants
But that`s not his job
My take
Interesting that he needed to find a six figure sum to pay the electricity bill last summer
While at the same time others took 50k profit for a short term `loan` of 200k
And a small army of admins / legals and PR coined big time
And lots of others on big fat salaries
Perhaps he was trying to stop the gravy train?
Or performing prescribed responsible duties for a Chairman – and was thrown overboard
twopanda – the man who has had the most mean spirited comments from the TRFC themselves was the one who did the right thing – John Brown.
To hail Malcolm as some kind of “hero” is doing a disservice – Lord Cardigan and Swally also did the same as Malcolm – they all heard from John Brown what was going on but decided to stay on the inside – however they have made not a jot of difference and in fact made the whole scenario worse since they all gave credence to the new regime by their silence and active encouragement.
In fact Ally’s “we don’t do walking away” speech did more to kill any sense of reasonable protest against the spivs. He forced them into a corner by saying that – what could he do after saying that?
Murray’s job was to nail the miscreants – he was held up as a bastion of doing business the right way – his very presence was to allay fears from the financial world – to say otherwise is not correct.
I have never liked John Brown – and still don’t – however in my view he is one of the very few that comes out of the Govan side with any semblance of credit.
FFS How many times is this lot going to use the word Transparency ,they have kicked the poor word blind.
EC – He could have nailed the miscreants in the statement
Obviously kept them in check behind the scenes which explains the MSM smears campaign
Really don’t agree with `hero` portraying stuff – or the unbecoming leak comment earlier
We constantly pick up the nonsense MSM for misinformation – or doing jacks dirty work
We constantly asking those in football to do the right thing decently
When one does – he gets pilloried
Agree with the rest
ForresDee says:
July 11, 2013 at 12:05 am
5 0 Rate This
the taxman cometh says:
July 10, 2013 at 11:09 pm
Sorry for being short with you, but the devil is in the detail. RFC(IA) increased the prices and then decided to pass the cash back to themselves.
============
I tweeted Corsica to confirm this – RFC(IA) would have broken the law if they had passed the money on to the charity, – that in my book is saying that they did the right thing legally by keeping the money
I wonder what the headline would be that reports on Murray’s last sentence re 3rd Division winners if it were Celtic?
“Departing Celtic Chief Fears Relegation A Possibilty”
Its how you spin them.
Re MM
So another one slinks away with a mere whimper .
Transparency ,don’t make me laugh
Paying the Leccy bill ,why would YOU have to do that personally Malcolm if all was well at the new club
We went down the floatation route for transparency ,so you were beating sugar daddies off with a big stick Malcolm .
Rich and illustrious history ,that is some feat for a club only 12 months old .
By all reports MM was in as a face to attract city investment ,well if that is true has he no feeling of responsibility if investors lose out just over 1 yr since making their investment .
weebully on July 10, 2013 at 8:39 pm
Any idea what’s going on with the move to EK? We were told that it was all about that guy wanting senior football in East Kilbride, but the formation of the Lowlands League means that EK will have a senior team, so where does that leave us? Are we still going to EK, and they effectivley have 2 senior teams?!?
I’ve tried contacting the club, but I’m finding it difficult to get confirmation!
Alistair Johnston, a previous Chairman considered a proper businessman and a lifelong Rangers fan was ousted from his position and left with nebulous warnings an veiled hints. Telling the fans to “be vigilant” but not explaining why.
Malcolm Murray a previous Chairman considered a proper businessman and a lifelong Rangers fan was ousted from his position and left with nebulous warnings an veiled hints.
Both clearly concerned about what was going on in the boardroom, but more concerned with their own reputation (I have no issue with that) and doing no more than sewing a bit of discord. Rather than coming out and saying what was really going on.
One suspects their target audience was not the rank and file Rangers fans.
What a last few days we have had, with two directors ousted, one the former chairman and the other the NOMAD’s man on the board. The NOMASD disposed of and replaced by some lesse known and possibly more compliant firm. A shareholder and former city high flier (Prior) beig pubblicly horrified at what is going on, and James Easdale taking a place on the board with undue haste.
All immediately after the season ticket renewals period is finished and the p[ublic one has started, and probably sold the majority of what it is going to in the first few days.
CG must be well please with how things have gone in the last few days. Wonder if said new NOMAD will allow him a bit of flexibility with his share disposal arrangements. There would be a turnip for the books.
gaz
Have you ever monitored what goes on in a snake pit over a period of time , if it had a transparent cover over it we would be able to do this easily ,not that we would like what we see ,but it would be an eye opener for sure, you have the same comming and goings without adding or taking away ,and thats with the lid on .remind you of another pit.
http://www.lse.co.uk/SharePrice.asp?shareprice=RFC
Share price at lowest price yet. . . 50p
A number of posters on TSFM including myself have taken a particular interest in some of @CharlotteFakes releases regarding one particular individual named Rafat Ali Rizvi.
It was clear from the released emails and supporting audio that details of any involvement or investment of this particular individual was to be kept out of the public domain, and in the words of Imran Ahmad to the effect of …. would be worse than finding out that Craig Whyte was still involved …..
Well what could be worse ?
It had not escaped the notice of the bampot community that Rafat Ali Rizvi was actually convicted (in his absence …. abscondment), of serious bank fraud in Indonesia. Further, he had been placed on Interpol’s Red List of Wanted Criminals.
Now the early research on Rizvi was kicked off on RTC, but it was not until @ecobhoy pulled all of the information together and posted on Paul McConvilles Blog that the issue gathered further momentum.
http://scotslawthoughts.wordpress.com/2012/07/21/exclusive-amazing-rangers-link-to-interpol-fugitive-posted-by-ecojon/
It was a response to this post from @Johnboy (July 21, 2012 at 11:41 am) on Paul’s blog that further suggested a connection to Chris Morgan.
What we were left with last July then was a loose connection of hearsay and past interconnections with various degrees of separation between Charles Green, Chris Morgan and (possibly) Rafat Ali Rizvi ….. that Chris Morgan was announced as an investor to the tune of £400k, and that there was one particular significant shareholder that Charles Green was or appeared to be protecting. Blue Pitch Holding …. No more than that.
The trail went cold until February this year when between them Alex Thompson and Phil MacGiollaBhain released reports of the possibility of a winding up petition from a Far Eastern Company called Orlit Enterprises. For whatever reason, it stirred Charles Green into quite an agitated state and Rangers immediately responded with an official response. It was clear at the time that the explanation given did not seem to sit right, and further it highlighted an interesting individual called Chan Fook Meng. Now the interesting point about Mr Meng is that as well as being a director of Orlit, is that he is also the Chairman of Nova Resources Limited, and of course the chairman of Nova Resources Limited until May 2012 was Charles Green, at which time he resigned to take up his Rangers interest!.
Now at the same time, it had not gone unnoticed that the Advisors for Nova Resources and indeed other companies with associations between this group of individuals were Allenby Capital, and in particular the association of Brian Stockbridge and also Imran Ahmed.
Nova Resources was previously known as Tembusu Investments, but changed its name after its then Chairman and Chief Executive Rafat Rizvi was convicted of corruption and money laundering charges in Indonesia involving a total of £367million.
When Rizvi resigned, his place was taken by Ms Zhang Yun, whose CV indicates that one of her positions was as Director of Orlit Enterprise (Singapore) Pte Ltd. Ms Zhang Yun is the wife of Rafat Ali Rizvi.
The decision to allow Mrs Rizvi to take her convicted man’s place as boss of Tembusu was approved by the firm’s nominated advisers Allenby Capital.
http://www.investegate.co.uk/article.aspx?id=20100122101109W2129
Allenby’s representative at Tembusu is Brian Stockbridge.
Before leaving the intriguing Mr Meng, let us look at another interesting link that may be relevant.
Mr Chan Fook Meng is listed as having an interest in Tricor PLC who were represented and advised by Allenby Capital, and in particular by Brian Stockbridge.
Back in May 2012, when Mr Green emerged publicly, there were rumours that the acquisition of the football club would be by a combination of Tricor, Mr Green, Mr Chan and Nazim Khan.
Mr Khan, as well as being one of the consortium, it was alleged, is also a director of Tricor.
Pershing Nominees are reported to have a stake in ‘consortium’ member Chan Fook Meng’s Tricor, but also Ordinary Shares in Willow International Limited pursuant to conversion of Convertible Loan Notes issued by the Company to Craig Whytes Liberty Capital Limited.
Charlotte kindly presented us with the placing letters and copies of the Share Placing documents to confirm Mr Greens early submission … I bet he was not expecting that !
The Trail Warms Up
In May this year @CharlotteFakes released an audio of Imran Ahmed, Brian Stockbridge and surprisingly …. Craig Whyte discussing openly the involvement of Rafat Ali Rizvi as being one the consortium of investors in the Newco Rangers !.
This revelation was off the Richter Scale in not only presenting suggesting a link to Rizvi ….. but that Craig Whyte was also in on the deal. Up until this point, we believed that the Rizvi connection was a separate strand to the Craig Whyte involvement and not inextricably linked (Shock and Awe).
@CharlotteFakes also released two damning emails showing that between them Imran Ahmed, Chris Morgan and Craig Whyte were colluding to cover up the (alleged) investment of one of Interpol’s most wanted criminals in the Newco Rangers.
http://www.scribd.com/doc/152632997/Morgan
http://www.scribd.com/doc/152637504/Morgan-Rizvi
As the debate and speculation hotted up, @CharlotteFakes decided to provide us with an email release that finally showed categorically that funds appeared to be transferred (or authorised to do so) between Rizvi and Chris Morgan though Asia Credit Corporation and a Swiss bank account.
http://i.imgur.com/1Ls2NsJ.jpg
So now we started to enter a completely new phase of this intriguing story, the battle for Blue Room Control.
We have all watched with incredulity at the Rangers Board room battle to remove Malcolm Murray, and listened with intrigue to Imran Ahmed stitch up and suggestion that he walks quietly at the end of the season. We also heard Murray request that he talk to Cenkos, and Imran could have no objection to this (how could he on tape ?). Of course, better to keep Murray on side rather than a loose canon outside of the Board Room.
Shortly afterwards Charles Green was forced to resign with Imran following in short succession.
We have seen chris Mather installed as temporary CEO and Malcolm Murray step down as Chairman to be replaced by Walter Smith. But the Blue room politic has been severely altered and we can see evidence for urgent realignment ahead of the August AGM.
The strong suggestion is that Chris Morgan will be voted onto the board alongside James Easdale. We have subsequently seen Mr Easdale appointed, but what about Mr Morgan.
We enter an interesting phase, because it appears that Rangers were unsuccessful in getting approval for the appointment of Mr Morgan. Could it be that following recent spotlight on Chris Morgan’s activities and associations that Cenkos could not issue the appropriate clean bill of health document required for directors of AIM companies.
On Sunday 7th July Phil MacGiollaBhain wrote an interesting article on his website:
http://www.philmacgiollabhain.ie/sevco-and-cenkos/#more-3770
The first point to make is that Phil was correct …. Rangers were about to announce a change of Nomad and Broker. But interestingly it was not to Daniel Stewart as suggested, but rather to another equally lessor known Nomad Strand Hanson.
Phil MacGiollaBhain followed up with this post on TSFM following the announcement that infact Strand Hanson were to be appointed.
Phil MacGiollaBhain (@Pmacgiollabhain) says: (July 9, 2013 at 1:23 pm)
There is a major story in why the NOMAD Daniel Stewart (signed up on Friday) was replaced at the 11th hour.
Did they walk or did someone at RIFC find something in their business pas that was toxic?
So what happened in the time between having Daniel Stewart signed up on Friday and the announcement of Strand Hanson on Tuesday. Well, I suggest we look no further than on this site.
On Sunday I posted the following …
newtz says: July 7, 2013 at 9:41 pm
Daniel Stewart appointed as NOMAD & Broker to Nova Resources Plc
11 January 2012
Nova Resources Plc (NOVA.L) announces the appointment of Daniel Stewart and Company plc as the Company’s NOMAD and broker
For further clarification
http://www.iii.co.uk/investment/detail/?display=news&code=cotn:NOVA.L&action=article&articleid=8583918
That Daniel Stewart are so closely linked with Nova Resources, to Orlit, to Rafat Ali Rizvi is too blatant, too dangerous …. too toxic !
That even the suggestion of a connection was being openly discussed on a monitored blog site and on Twitter must have been enough for one of the parties to get cold feet …
When Phil first suggested that Daniel Stewart were to appointed It initially raised a completely different query, and that was …. Why ?. Why choose a low profile Advisor and broker. Could it be that they might be more amenable to pressure … a more compliant Nomad ?. It was interesting that another poster asked the same question a day later. It was even more interesting that in today’s DR that Kevin Prior should make a similar observation …
Prior said: “My reaction to the latest boardroom announcements are twofold – dismay and horror.
“Rangers have changed their broker of choice from Cenkos, an established and respected firm, to one which I have never heard of.
“Unassuming fans might think it a non-event but the presence of Cenkos would have assured investors both present and future.
“This is the brokerage that brought Rangers to market last year and provides us with a heritage and access to capital markets.
“I only hope Strand Hanson are not yes men. Charles Green has a lock-in period on his shares of two years. I would trust the new brokers would not move from that.
——-
It’s not the fact that Rangers changed Nomad and Broker (But it needs explaining! ), that prompted me to post ….
The Genie Is Out of the Bottle ….
It was that Daniel Stewart had been considered, and according to Phil and Cenkos …. signed up on Friday 5th July.
As Phil responded ….
Phil MacGiollaBhain (@Pmacgiollabhain) says: July 9, 2013 at 1:48 pm
@newtz
the genie is indeed out of the bottle…
The debacle prompted the following Tweets
Phil MacGiollaBhain@Pmacgiollabhain
Memo to Glasgow MSM: There is a major story in the 11th hour change of NOMAD for RIFC. Daniel Stewart chaps were signed up on Friday. 1/2
Phil MacGiollaBhain@Pmacgiollabhain
2/2 Did the NOMAD do their due diligence and walk or did someone at Sevco have reason to change their mind? Big story there lads. #NoLamb
———-
Most of the information in this post is collected from input posted on this site, Paul McC’s blog and KDS as an aid to paint a better picture … @eco @Sam @Johnboy and many others .. Thks all
Sorry for length, but have tried to string the relevant parts of the whole story (as I understand it) together for the benefit of those who may have missed some of the input. Of course, there is much more input to add, and indeed much I will have missed. But hope this helps.
newtz
I was over in Fife yesterday fishing for mackerel, there wasn’t much doing at Elie, so we went round to Methil
to check it out.
When we passed the stadium it was obvious there was a game later (East Fife v Wolves.) I really wanted to
attend but was in someone else’s car.
I don’t know what it was, but I was caught up in the atmosphere. There was a buzz about the place. I liked
the look of the ground too.
Checking online last night, it seems I missed a really good wee game! Hope ‘Bayview Gold’ enjoyed it.
Having not renewed my season books for Celtic this year, I really intend taking my young lad there for a couple of games, even if it is a bit of a hike for us.
Could always bring the rods as a back up…
Great post Newtz- you have connected the dots in a way that is totally missing from the SMSM.
Now that’s what I call ‘due diligence’ 😉
#Chapeau
newtz says:
July 11, 2013 at 9:34 am
Absolutely superb, Newtz. I had literally lost the plot with this “thread”. Not any more! Thank you.
the taxman cometh says:
July 11, 2013 at 6:45 am
0 4 Rate This
ForresDee says:
July 11, 2013 at 12:05 am
5 0 Rate This
the taxman cometh says:
July 10, 2013 at 11:09 pm
Sorry for being short with you, but the devil is in the detail. RFC(IA) increased the prices and then decided to pass the cash back to themselves.
============
I tweeted Corsica to confirm this – RFC(IA) would have broken the law if they had passed the money on to the charity, – that in my book is saying that they did the right thing legally by keeping the money
=================
Happy to be corrected, can you point me to the relevant parts of Corsica’s blog?
newtz says:
July 11, 2013 at 9:34 am
Great work newtz, and, as you say, it highlights the investigative work of others too. If, as you suggest, this great investigative work has led to yet another switcheroo (of NOMADS), then it lends much gravitas to this blog, and the others you mention. Maybe we can make a difference, and with any luck, to the SFA and SPFL too. I have to admit, I had wondered at times where all this digging into the various shady characters and companies was going to lead, but you’ve pulled it all together nicely and, I’d expect, ecobhoy and the rest of our resident investigators will be able to use it, and perhaps add to it, while digging deeper.
Bunnet off to you, sir 🙂
newtz – excellent post – thanks for pulling all the strands together for us.
newtz says:
July 11, 2013 at 9:34 am
Superb Newtz….surely a decent scottish journo will pick this up? Where are Woodward and Bernstien when you need them…
@ollielogie
I’m afraid the SMSM are still quietly standing in line for their press release.
I am trying to stand up why the 11th hour switch from Daniel Stewart.
That is the next strand in this story.
Suffice to say all is not well in the state of Sevco…
So to ask the obvious questions about the possible involvement of an Interpol most wanted in Scottish football….
can anyone contact Interpol to point them in the direction of an associate / possible witness / source of information on the suspect’s whereabouts?
can Interpol freeze / sieze assets of those who are wanted?
do companies / agencies have a duty to supply information or take action to assist in finding such a suspect?
Interesting times indeed for the SFA / TRFC. I can imagine the scene…
There’s a phone call for you Mr Doncaster, its a Monsiour Clouseau from Le Sueretee, something about a warrant for your arrest. Weren’t you supposed to tell them something earler?
Newtz that is magnificent.
There is so much information now – with the best will in the world it is very difficult to keep up to date with it all. It is so helpful to have someone tie strands together to highlight one part of the story.
We all know now that the MSM will never come up with anything like this. I’ve given up expecting that from MSM and am not searching in places like this, Phil’s blog and Paul McConville’s blog.
Would it surprise you to know that on the board of the new new NOMAD is someone who is Singapore-based, and who is a member of the same polo club as Rafat Ali Rizvi? 💡
Purely coincidence, I’m sure. 🙄
Newtz, what a brilliantly compiled contribution.
Thanks for your hard work.
Lighter note;
yakutsuki says:
July 11, 2013 at 9:49 am
When we passed the stadium it was obvious there was a game later (East Fife v Wolves.) I really wanted to attend but was in someone else’s car
Checking online last night, it seems I missed a really good wee game! Hope ‘Bayview Gold’ enjoyed it.
……………………
Not so fast yakutsuki !
Mayhem at Recreation Park on Saturday Alloa v East Fife!
Riot at so called ‘friendly’
Forfar fan in East Fife in top blamed by fifers for free-for-all fray!
(believe it or not East Fifer ejected from ground – for swearing) javascript:grin(‘:grin:’)
Captain Haddock says:
July 11, 2013 at 11:07 am
====================================
A possible witness is in court in Inverness today!
Yes,Wee Craigy’s back on the scene.
Totally ignored the SKY reporter when questioned about TRFC.
newtz says:
July 11, 2013 at 9:34 am
54 0 Rate This
***********************
Forensic bampottery at its very best!!
As you say Newtz, you have compiled your post utilising information freely available on this site and others.
If I may, I would like to ask a question or two. Do you see the end game approaching, and also, has this been the plan all along, or did events lend a hand? Such as being knocked back from the SPL and being allowed to ‘ditch the debt’ and carry on regardless?
It strikes me that the ‘book’ values of Ibrox and MP are not adversely affected by whatever division of the league TRFC find themselves in. As long as someone is willing to pay a lease on facilities, there is a buck to be made.
As for the support ….. well, fool me once etc ……….
Phil MacGiollaBhain (@Pmacgiollabhain) says:
July 11, 2013 at 11:06 am
7 0 Rate This
Suffice to say all is not well in the state of Sevco…
=====================================================
How “not well?”
being run by spivs/sharks out to line their own pocket?
Illegal activities?
Trading while insolvent?
Bills, staff and creditors not being paid?
Administrators being sounded out?
Serious SFA concerns about ability to continue through new season?
newtz says:
July 11, 2013 at 9:34 am
====================================================
What can I say but express the deepest admiration for what you have achieved. I have sat many times recently and tried to tackle it but there were too many seemingly disparate pieces floating about within and beyond my field of vision to even glimpse the completed jigsaw.
No one else could have presented such a detailed picture of events with the clarity of vision and purpose you have brought to bear – Eco.
Great work from Newtz. Until his effort, it was all a bit complicated for me but that’s put it down there in a manner even the embarrassingly neutral Mr Spiers can’t fail to understand. Maybe time for him to do some proper journalism? Then again, golf is his game, he will be otherwise occupied for the next couple of weeks!
Anyway, a colleague of mine, for her sins, always buys the Daily Mail.
Today, I happened to get a glance of their match report for the Sevco friendly up at Elgin.
It carries a photo of the cardigan of dignity standing shoulder to shoulder with the manager, on what appears to be the touchline. What is Walter doing down there? Is he confused about his current role at the club, or maybe it’s just that he’s realised, like the rest of us, that despite his 750k per annum salary, Ally is just a truly rotten football manager. Maybe he’s decided that what the sinking ship Sevco actually needs now is a tracksuit chairman javascript:grin(‘:grin:’)
Newtz, further thoughts on your contribution.Given your ability to provide a narrative which is so compelling and logical might I suggest you distribute your work to those of significance in MSM.? Alex Thomson, Stuart Cosgrove and Mark Daly instantly leap to mind .In addition , I am sure Private Eye would like a look.
Great post Newtz. Thanks for ‘Dumbing’ this International Pantomime down for us mere mortals.
Questions. Can the SFA now refuse a playing licence and risk being taken apart for issuing licences to the old club for previous years?
It is obvious there is not enough cash in the pot to see them through a second season. What choices do the SFA now face?
Newtz
Excellent post. Read it 3 times. Took 30m to digest its contents.
Was circumspect previously as seemed too much ‘wanting there to be a link’. However the change(s) in NOMAD give greater credence to the Rizvi link.
The challenge is prove BPH shares are funded by Rizvi or a directly controlled nominee, Morgan?
If that is proved, an RIFC shareholder clearly fails FPP test. That is toxic. What are the repercussions of this toxicity for RIFC/TRFC?
What would SFPL/SFA actually do? Order a change? Threaten sanctions?
BPH can simply sell their shares at an agreed time with the new, probably compliant NOMAD, to AN Other entity that will have been pre-ok’d by football authorities.
TRFC & RIFC have had their passage into Scottish football smoothed by SFA/SPL/SFL at every turn.
It would be a test for SPFL. Would they treat TRFC in the same way as the old bodies?
As the MSM will stay silent, I think we already know the answer.
If Rafat Ali Rizvi was to appear on STV this afternoon, say that he was accusesd of money laundering and fraud but that nothing was actually proven, admit that he controlled 20% of Rangers directly or indirectly, but add that he would make the new away strip Orange and that he would fight for the fans right to sing any song they wanted he would be cheered into Ibrox and given a white charger to ride in on.
The fans for the most part really don’t care about anyone’s background. The didn’t care about King, they didn’t care about Whyte, they didn’t care about Green, they didn’t care about Murray, they didn’t care about Easdale. They simply don’t care.
Put money into Rangers (or appear to) make the right noises and defend their “traditions” in public. Nothing else matters. No level of fraud, racketeering, money laundering, extrotion, intimidation or anything else matters a jot.
The SFA clearly have the same opinion.
Rafat Ali Rizvi would just be another name joining a list.
http://www.bbc.co.uk/sport/0/football/23259898
Has Craig Whyte paid his £200k to the SFA yet?
Gaz says:
July 11, 2013 at 12:40 pm
================================================
100% agree with you,Gaz.
However,I’m sure the genuine investors in RIFC(I discount most of the fans as their investment is emotional rather than financial),including any institutions that were swayed by Murray and Cartmells involvement would have liked to have known who they were hopping into bed with
So, whilst we wait the Ibrox Implosion…….we KNOW it’s coming, just not sure how or when it will go off!
Lets say TRFC are placed in Admin and it can’t be saved – so it’s liquidation time again
What if someone started another newclub up called The The Rangers FC, agreed a fee for rental of Ibrox/MP from RIFC PLC and applied for membership to the newly formed SPFL league
Would they be welcomed in again or would the league be a bit more circumspect and demand they prove their stability by having to operate in the non league world until they had 3 years accounts?
Is there a point where the large travelling support (and it’s money) would not be welcomed by the disruption they cause to the lower leagues?
Most of the lower league teams manage without a visit from sevco and they still balance their books, would they be happy to leave the new The The Rangers out of the league until stability was proven or would the big boys at the top demand re-admission as TV and sponsorship deals relied on their existance?
Would the SFA once again transfer the membership to this new club – or would they have to refuse until the club proved it was stable.
Surely the SFA couldn’t grant a transfer again knowing we could simply see the club fold all over again?
Might a New The The Rangers find it harder getting it’s league place and membership all over again?
Not The Huddle Malcontent says:
July 11, 2013 at 12:49 pm
=========================================
The only thing that would stop the bias towards 3rd Rangers FC. would be the reaction,as before,of the fans.That’s if they can raise the cash to start again.
The football authorities,the MSM,etc have all made it clear where they stand. 😥
torrejohnbhoy(@johnbhoy1958) says:
At 30p a pop (or whatever) for shares which opened trading at 70p, and went up to 90p, still trading at over 50p they could proabaly live with their concerns.
Or am I just being a cynical big silly.
torrejohnbhoy(@johnbhoy1958) says:
July 11, 2013 at 12:54 pm
And that is where performance on the field comes in. They literally now cannot afford to lose.
Gaz
Completely agree. The bears are only interested in winning, signing players, the history, sash bashing, cooing at a bus and lapping up any sort of world record real or imagined.
They have proved time and again in the main that until some or all of these stop happening there is no point taking an interest in anything else.
NTHM
The Blue Pound is king in the SPFL. Whatever rule needs ignored, bent or broken for a 3rd Rangers to emerge it will be done as it was before.
Whether anyone will want to fund such an enterprise is a different matter. Whether the bears will accept what would have to be a financially prudent operation would be a season ticket decision for season 2.
I think the spivs exit strategy is being finalised. The end is nigh.
Whether there is Rangers football team left will be interesting.
Smugas says:
July 11, 2013 at 1:17 pm
torrejohnbhoy(@johnbhoy1958) says:
July 11, 2013 at 12:54 pm
And that is where performance on the field comes in. They literally now cannot afford to lose.
————————————————————————————
The question is,
Can they even afford to play?.
Thanks Newtz bloggers of your stature make TSFM the credible site that it is.
The SFA and MSM cannot ignore this information for much longer as they will lose any credibility that they may still have. They no doubt read this site and must really despair (or maybe one day they will shock me and deal with Sevco properly). If bloggers on TSFM can dig out this info then any decent journalist should also get access to this info ( if they so desire)
Campbell Ogilvie is a disgrace, if Mr Struth is spinning in his grave as MM suggested then Mr Ogilvie is providing more momentum to Mr Struth’s rotation. Shameful man.
What will Walter do as he has been put in a position he is not qualified for just to help Charlie sell ST, you wonder who is the real Charlie??
So thanks to Walter and Campbell Mr Struth is just rolling along. If CO and Walter are “Real Rangers Men” and have any dignity, they should stand up to spivs who are just going to send their club in a downward spiral again (pardon the pun Mr Struth).
Maybe it is to late. All involved at Sevco would rather do the club/company a bad turn rather than a good turn. Want a laugh, maybe the SFA will turn all this around.
Sugar Daddy says:
July 11, 2013 at 1:21 pm
Whether there is Rangers football team left will be interesting.
===============================
Of course there will be, that is the FINAL pay off.
TRFC Ltd will be sold
Now, what form that is in, well, that remains to be seen
It could be a husk of a “club” no stadium/training ground, no car park – just an SFA Membership, SPFL position, squad of players (likely much reduced if an admin process is needed)
The new owners may approach Queens Park or even Celtic to groundshare, they could relocate to Murrayfield, or they could downsize properly and share with someone like Motherwell, Partick, Kilmarnock etc
They might even RENT ibrox from RIFC PLC (no doubt soon to be renamed as they become a property business)
Of course, the admin process would wipe out a lot of the debt owed to RIFC PLC (unless of course, RIFC PLC has clawed back all the money owed to it already – ST income, stadium/property assets)
Who knows, maybe an admin won’t be required, and it’ll jsut be a straight sale of teh business TRFC ltd – with a tie in to rent Ibrox/MP – even if the fee was nominal, the rent would be a fine reqard for RIFC PLC.
Pretty sure they will survive – but will they prosper?
Phil MacGiollaBhain @Pmacgiollabhain 19m
http://www.philmacgiollabhain.ie/unheeded-warnings/#more-3775 …
Not The Huddle Malcontent says:
July 11, 2013 at 1:30 pm
——————————————————————————————
Hard to see this ending any other way(unless someone with say £60m to throw away turns up).
Ibrox is the spivs joker.they can give TRFC away for nothing and tell the new owners they can:
A-Rent Ibrox,taking on all upgrading,maintenance etc costing probably a couple of million a year.
B-Buy Ibrox(I think the spivs would demand top dollar as the TRFC fans would want Ibrox at any cost)Say £20m,not including MP.
C-play their joker.Threaten to demolish Ibrox if the new TRFC owners don’t agree to one of the above,knowing they’ll probably get £20-25m for all properties including MP.
Any sensible prospective owner will already know this and will be looking at the various possibilities.Will said investor,though,be willing to bankroll TRFC until they reach the top Division,knowing that success is anything but guaranteed.The MSM,fans,etc seem to think it’ll be a quick rise through the divisions with the winning of the top league a formality in their 1st season.I think CFC will have something to say about that!
It may be quite a few years before TRFC play CL football.Are new owners willing to bankroll TRFC for,I’d guess a minimum of 5 years but probably a few more?.
Superb post, newtz, and thanks for your hard work in pulling the various strands together in a way that I can understand and follow.
Like others, I could not see the wood for the trees.
The story is there.
Or rather, two stories:
One, the financial troubles of what is patently a dodgy business enterprise run by people with at least questionable business antecedents
And Two, the story of the gross mismanagement, incompetence, and underhand machinations of the SFA in its dealings with that dodgy business enterprise.
Dealings that were patently at odds with their duty to apply and abide by their own Rules and the ordinary rules of fair play and natural, even-handed justice.
The SFA Board has by its negligence, incompetence and cowardice over many years allowed, indeed, encouraged, wrong-doers in their wrong-doing .
That wrong-doing is on-going.
But it will stop pretty soon with another insolvency event, or earlier action by AIM to de-list
When that event happens, the SFA will have not a shred of credibility or ounce of authority to deal with the consequences.
What happens to the wrong-doer is one thing.
What happens to the administration of Scottish Football is quite another.
And that’s of greater concern to me.
NTHM
I dont think there will much of a pay day from TRFC sale. If its sold as a going concern it will be for £1 with a loss making operation that needs massive cost cutting. Otherwise its pennies in the pound to creditors, mostly the spivs I assume, out of a CVA.
I agree it will be a husk, denuded of all assets bar the players & trademarks. How they start up again will depend on who buys them, how much cash they have & whether they want to pay rent to whoever the spivs sell RIFC plc.
The spivs are going, the 1p shares are gonna be cashed in. Charlie will have orchestrated the daylight and probably entirely legal fleecing of the bears.
Who can they blame? Who is the figure of hate? There is no-one. Charlie & Imran are long gone, Walter is invisible & untouchable, Ally is a joke, I don’t think they even know who Mather is. Stockbridge has kept a low profile & is likely next out the door probably over the collapsing share price when 1p tranches are sold. Do you see the bears lining up to have a go at those nice Easdale chaps?
It may not be how they perceived the plan in the beginning but Charlie must be giving a chapeau to everyone in the MSM, the SFA and the league bodies who made it all so possible and easy.
So very easy.
Had a quick look at the current AIM price for RIFC and as noted earlier today the bid price is down to 50p.
This gives a market capitalisation of £33.52M. On 27 December last year I believe that the share price figure was 93p.
That’s a fall of 46.24% in the past seven months.
Is this a World Record? Are more about to be set?
Scottish football needs a strong set of Internet Bampots.
rougvielovesthejungle says:
July 11, 2013 at 11:54 am
—————————————–
Wouldn’t get too carried away RLTJ, there is precious little geographical distance between the touchline and the back of the stand at Brora’s ground.
Maybe the cardigan of dignity was just taking evasive measures from a spray-happy erstwhile chairman.
That photo of Malcolm Murray reminded me of Ronnie Corbett’s old joke “I haven’t been that scared since I found myself next to Shakin Stevens in the Gents at the Hippodrome….”
54 (shakes) to 0 (effect)
redlichtie says:
July 11, 2013 at 2:13 pm
================================
30th July 2012
Rangers will be financially stronger than Celtic in a year, claims Charles Green
THE Ibrox club’s supremo was bullish about Rangers’ future after their opening vistory over Brechin City in the Ramsdens Cup.
RANGERS owner Charles Green last night insisted the Ibrox club would be in a stronger financial position than Celtic in a year.
The battered and bruised club began life as a newco with an edgy extra-time 2-1 Ramsdens Cup win at Brechin but the new chief executive was bullish about the club’s future and claimed within 12 months their balance sheet would be stronger than the SPL champions.
Green said: “If you look at the balance sheets at the end of next season you should see the strength of the two companies.
“We are in the Third Division and Celtic are in the SPL and what I’d like you to do is promise me at the end of this season, when all the games are played, examine the balance sheets of the clubs and tell me which one is the strongest?
“Then let’s see who has got the strongest balance sheet.
“We’ve not got the debt that any of these clubs have and on the last day of the season I would really enjoy some clever financial analyst looking at the balance sheets and debt-to-equity ratio of every club in Scotland.”
Green revealed he will jet to London today to start the process of bringing £20-30million investment into the club by floating them on the stock exchange.
He said: “We said we would raise between £20million and £30m but the reason we couldn’t put the season tickets on sale was the same reason we couldn’t go out and raise further money until we knew we had a football club that was going to be allowed to ply its trade.
“That’s why we got that signed off on Friday and we have a meeting at 8.45am on Monday so we are hardly letting the grass grow under our feet.
“This is the start of the process on Monday when we go to London to start the meeting with stockbrokers.
“That is when the fans can take up ownership. They can buy into the club.”
Green, who revealed the newco will change their name to “The Rangers Football Club” this week, said he had no intention of cashing in on Ibrox or Murray Park.
The chief executive said: “Ibrox and Murray Park are owned by Sevco who will be changing its name to The Rangers Football Club.
“All the assets are owned by the company and nobody is trying to do anything with the assets. Ibrox and Murray Park won’t be sold.”
http://www.dailyrecord.co.uk/sport/football/rangers-richer-than-celtic-in-a-year-says-1190504
Schadenfreude is an ugly word.
“Schadenfreude is an ugly word.” ………but a beautiful feeling.
I keep getting drawn back to one paragraph in Malcolm Murray’s statement which reads: ‘The reason we went down the flotation route was to guarantee transparency, whereas ownership by mysterious individuals does not.’
Obviously Murray who is well-experienced in the City knows all the ways that the actual ‘ownership’ of shares can be not only hidden from sight but be actually impenetrable.
So how could the ‘flotation route’ guarantee transparency? Running through my head is when it came to light over a year ago that Rizvi was allegedly a major shareholder in the Rangers consortium purchasing the assets from D&P.
This panicked another major potential investor into abandoning his plans and the SFA I believe were informed of the situation. We then had a carfuffle from the SFA about the identity of the investors having to be revealed to them and then apparently being satisfied by the vetting process.
I think the key to this lies in the list vetted by the SFA – I believe that if MM is accurate then Rizvi won’t show on that list but I believe that Murray’s battle with Green sparks from December last year when CW started his onslaught re Sevco 5088 and the Green connection with him. I think MM made a connection at that stage between Rizvi and someone who ‘passed’ vetting back in May.
I am sure that MM is clearly signalling the club is currently owned by ‘mysterious individuals’ and to me the big question is what is he going to do about it.
I have no doubt that MM loves his club and I have no doubt that he knew he had lost the battle against Green for ‘control’ of RIFC Plc – I wonder whether his leaving at the same time as Cenkos and Cartmell was them actually being forced-out or picking their time to go after getting the Institutional Investors over the 6 month lock-in period.
The problem for MM, Cenkos and Cartmell is that they might not have known in the beginning who they had got into bed with but if my reading of the situation is anywhere near the mark then they must now have an inkling.
The question is will they have anything to say to AIM and should they have said anything earlier if they haven’t already done so. Or do they sit quietly, hunker down and try to escape the worst of the implosion when it comes?
And at Christmas, things were even rosier!
http://www1.skysports.com/football/news/11781/8342844/Rangers-boss-Ally-McCoist-set-to-be-handed-30m-once-transfer-embargo-is-lifted
That’s right: 10million + 20million quids’ worth of STs – 0 running costs = 30 million to spend on players.
It’s a competitive field, but this has to be my nomination for stupidest headline in the history of journalism.
Can anyone do better?
And still Ally’s trying to increase expenditure:
http://www.bbc.co.uk/sport/0/football/23271454
thomthethim says:
July 11, 2013 at 2:52 pm
To be fair Mr Green did start it … 😎
Afternoon
Back from a lovely holiday and now playing catch up.
I note that focus has been on the (world record, surely) boardroom changes down Govan way along with Cenkos leaving the scene and MM giving a few words of warning to unblinkered Bears.
Then there is speculation as to who is behind these moves and what it all means.
Meanwhile the T’Rangers main squad heads north of 30 and all that entails for a balance sheet that must be eating into the IPO money. That being said it seems some savings are being made by way of reduncancies and the flaking paint around the stadium looks like being untouched for another year. (What no hotels, cancer centres and worldwide acadamies I hear you shout!)
It has always been about if the T’Rangers really were a newco and could cut their cloth accordingly or were they the same oldco with a spend spend spend attitude.
My guess is that money is still passing through their hands like water and some people who put cash in will want their return soon before the well runs dry. Interesting times ahead.
Oh and lest we forget our unlikely hero Craig Whyte may still have a few cards to play.
Have we all forgot about whether or not Sevco5088 or Sevco Scotland have the rightful claim to the assets??
Just when these types of things go quiet they have a habit of rearing their heads when TSFM posters least expect it. 🙂
torrejohnbhoy(@johnbhoy1958) says:
Ally will spend every last penny he’s allowed to and ask for more. If he doesn’t smell a fiscal rat then he is just building a big squad to win trophies. If he does smell a rat, he is building big squad to ensure on field success and will use this along with a “duped” defence to ensure the bears’ anger is forced elsewhere.
ecobhoy says:
The MM statement is quite general and the word “mysterious” looks very carefully chosen. Speaking to AIM may be blocked if he signed a compromise agreement. Speaking out directly, ditto. Therefore if there is to be an “digging” it will need to be by a journalist (no laughing at the back). If there is no sign of that as the end of the lock in nears then he’s staying schtum to save his reputation. After all its a local football story as far as national media is concerned (not much of one in WoS either).
So Ally is doing is best to insulate himself from any future fallout, perhaps unwittingly. MM is gone perhaps with his leccy money refunded, gift wrapped in a gagging order.
Cartmell will be deleting this sorry part of his career from his cv with all haste.
Wouldn’t it be a sensible move for any mysterious or spiv investor to get the heck out before things get worse or before anything gets to court, (whether this is CW’s Sevco V Sevco, any AIM investigation/action, any Interpol enquries etc).
The added departure on MM, Cartmell & Cenko will presumably push the share price down even faster than was envisaged.
The question might actually be why are the mysterons and spivs still actually there?
Sugar Daddy says:
July 11, 2013 at 3:45 pm
1 0 Rate This
torrejohnbhoy(@johnbhoy1958) says:
Ally will spend every last penny he’s allowed to and ask for more. If he doesn’t smell a fiscal rat then he is just building a big squad to win trophies. If he does smell a rat, he is building big squad to ensure on field success and will use this along with a “duped” defence to ensure the bears’ anger is forced elsewhere.
===========================================
pretty sure if I was Ally, I’d be very pally with the head honcho accountant who runs the day to day management accounts.
I’d be asking him for projections based on wages and general overheads – I’d want to know the cash at bank status and if cash was been taken out of the company by any other parties (legitimately or otherwise – such as a repayment on a loan made to TRFC by RIFC plc)
Shouldn’t be too hard for him to get clarity on it – indeed, he could have sat round a table with the Waistcoat, MM and even Chuckles and Imran when they were there and demanded to see these numbers or he’d walk and demand fans didn’t renew until the numbers were published
Wouldn’t be too hard to do – would ensure his legend status if he walked and tried to get the truth out to the fans
if it goes under now and Ally claims he was duped – you’d have to say he was talking utter keech and didn’t do all he could have. Or worse, he was complicit in the cover up.
I know if I was one of the “Rangers men” that the fans cherish, I wouldn’t want to be associated with the death (again) of a club. Ally has a long time left to live in Glasgow, I don’t think he wants to spend it in a gated community, never leaving his house or being able to attend a supporters function/sash bash/swally with the boys in the pub