The resignation of Charles Green from his post as Rangers International chief executive last month was more curious for what it wasn’t – a resignation from the board. Green retained his position as a director of the club. This was always likely to have consequences.
BBC report this morning that club chairman, Malcolm Murray, who media outlets loyal to Green reported innuendo against earlier this year, in what was viewed as an attempt to discredit and ultimately remove him, yesterday lost a vote of confidence at a board meeting.
I am certain the vote of confidence was called by Murray himself after he informed the board, including Charles Green, of how he intends to deal with the important matters surrounding the club at this time. In particular, what he plans to do with information received from Pinsent Masons and forensic accountants from Deloitte. The investigation underway by Pinsents and Deloittes is only taking place at the insistence of Murray.
The innuendo against Murray was inappropriate and part of a dirty tricks campaign against the man by those who do not have Rangers best interests at heart [the irony is searing]. The normal reaction to losing a vote of confidence is to resign and let your opponents deal with the consequences of their actions. Murray may feel he has done all he can for the club (or company, if that is how some would like to start calling the entity now). Those who invested in Craig Whyte’s various claims last month will enormously encouraged.
On Friday I’ll be joined by Phil Mac Giolla Bhain and Paul McConville at the Columba Club, Blantyre, for what is certain to be an enjoyable Question and Answer event. Tickets, £5 each, for the Columba Charitable Fund, are available at the door. I’m really looking forward to it. See you there.
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First?
Zbyszek – a very happy birthday, my friend. I hope you and your family are well.
L
TTTT
Bronze?
Two first’s in less than a week.
Morning all in Timdom!! Fine morning in Houston
Oh! Right I’ m officially retired!
If Murray has been ousted it means the Zeus cadre have won the boardroom battle and I will have to revise my prediction that the SFA will do nothing to them for the licence breaches.
The favours will be called in now and I think the licence will be revoked to allow the “Rangers men” to reclaim the black soul from the 2nd liquidators.
This is going to get messy…..
We will need more sugary gelatine and frozen dairy
If Malcolm Murray has lost the confidence of the board, what then becomes of the independent report?
Does it just get buried?
“I am certain the vote of confidence was called by Murray himself…..”
Hmmmmm
“The Entity” brilliant…
Forgive the report from the last blog:
After a long weekend away from t’internet I was catching up on a few longish posts so forgive me for not remembering which of the excellent pieces suggested that the ‘rangers men’ may need to crash the bus in order for the license to be revoked, which they well then pick up and have a ‘real rangers’ perhaps not even playing at Ibrox fro the time being until that mess is sorted out.
If Murray has been pushed out as reported, I suspect it’s the tipping point, I just can’t decide which direction. Is it to prevent the link between Green and Whyte being formalised leading to the licence being removed or will the opposite occur?
It’s getting more shambolic by the day and I feel like I need to set up one of those big photo walls from a crime drama that links all the key players and their significant actions.
Dbbia:
Meaning of ‘Deserter’:
(of military personnel) to leave or run away from (service, duty, etc.) with the intention of never returning: Terrified of the approaching battle, he deserted his post just before dawn.
Some men ran from the Irish Emergency deserted boredom and digging peat bogs to fight against mortal Fascism. Unfortunately for some of them they did not pick their war wisely, but none can doubt their bravery. They got paid less to go and fight the Somme or Ypres, and often die horribly, than those who deserted to go and make arms in Birmingham and Coventry without the cultural backlash and the perpetual stigma.
Emergency Powers (No. 362) order. Ireland’s Shame.
Three books mate:
A Coward if I return, A Hero if I Fall – Neil Richardson
Spitting on a Soldiers Grave – Robert Widders
Irelands Unknown Soldiers – Terence Denham
And one more if you are of a mind
Our War: Ireland and the Great War – John Horne
die ya huns
So am I right in saying that it looks like Malcolm Murray is being ousted for trying to come clean and tell the truth?
Can’t stop laughing @corsica1968 9m Wee RT for my latest blog for those who missed it late last night: http://www.alzipratu.wordpress.com More charitable acts in Govan. Just wrong kind.
The Zeus Cadre?
Ooooooooooooooooolllllllllllllle Burns Howff circa 1976?
Not a night for the faint-hearted.
Paul67
Is this going to be one of those days where there are numerous new articles.
I hope so.
JCGE
HH
Mints last longer than Murray’s at Ibrox…
Could be a job at Wolves for Butcher
Paul 67 –
What time is KO on Frday night?
Mr Z
Hoopy birthday ;)
Paul 67
Is martin coming along on friday night… not seen him since the last time there
BBhoy @ 08:59
My favourite place in Barca is St Josehps market (La Boqueria) where the food and wine is fanatastic plus it is full of locals therefore the prices are favourable.
Walking down La Ramblas towards the sea it is on the right
P
Its a lovely day for carnage to ensue down Ipox way.
The, ahem … ‘Good Rangers Men’ have done a wonderful job so far.
I like them.
Steinreignedsupreme
Club opens at 7pm and is pay at the door.
I’ll be the one with the crutches. 8-))
‘Blood on the Brogues’
Love it
blantyretim 11:15 on 7 May, 2013
Cheers. I might get along to that.
A wee comment from the darkside….
Could be this little Shawlands keech at the bbc playing funny buggers because they have been banned. I mean no comment prior to today that any board meeting was planned.
Some would say that ignorance is bliss…..They have bliss by the skip-load. Clueless, utterly clueless.
It seems that Sevco are making a 4.30 announcement to AIM, anyone else heard this??
Blood on the brogues
Sounds like a Rolling Stones Album
THE RETURN OF RTC
————————————————
Rangers Tax-Case (@rangerstaxcase) says:
Monday, May 6, 2013 at 22:22
307 3 Rate This
Hello. I just thought that I would type up my own thoughts on some of the recent speculation surrounding Sevco. Much of this has been covered by the likes of Paul McConville already, but I thought that a less learned approach could help communicate a few points. (Apologies if this is all well understood, but this site is too successful for me to read all of the posts).
I have read a few hopeful posts to the effect that “Ibrox could be locked up while asset ownership is sorted out” This will not be the case. Sevco Scotland Ltd (aka The Rangers FC Ltd) owns Ibrox, Murray Park, and the Albion. The title to these assets is owned by Sevco Scotland Ltd according to the Land Registers. In terms of actual ownership that is no longer a matter for dispute under Scots Law. The owners of Sevco Scotland Ltd (RIFC plc) own oldco Rangers’ assets. That does not mean good news for Sevco FC supporters.
Craig Whyte’s legal path is to sue Sevco Scotland Ltd (either personally or as Sevco 5088 Ltd)- as well as any parties who may have helped in scheme. If he is successful in proving that he was defrauded by Green and Ahmad, he would not be able to simply reclaim the assets. If Whyte pursues a claim against Sevco Scotland Ltd- presumably for the value of his share of the assets and expected profits- his reward will be a financial judgement.
Let us assume that Whyte wins an award of £20m against Sevco Scotland Ltd. which would include his share of potential profit from the original deal. (It is worth repeating that this does not give Whyte any claim on Ibrox, at least not yet). As this sum could not be paid, Whyte would then go down a path with which Scottish football monitors have become quite familiar in recent years. He would initiate a Winding Up Order or try to have an administrator appointed. As the major creditor of Sevco Scotland Ltd, Whyte would likely have his choice of administrator- yet again.
The problem for Whyte is that the amount raised in a new administration process will not come close to matching how much he owes Ticketus. Therefore, this above board path is not one that Craig Whyte will want to take. It will be a raging certainty that Whyte’s goal all along in this process has been to secure a payment into an offshore bank long before a court judgement is delivered. Either he has asked for too much or Green and Ahmad did not think that Whyte would or could hurt them too badly. Someone has miscalculated here. Whyte still needs to demonstrate that he is, after all, a ‘poker player from the top drawer’ to extract a free and clear payment from this mess. Time will tell if he has a plan or whether he is just winging it.
On rumours that insolvency is imminent, I am not the loop on this. It seems unlikely to me that events could unfold in the timelines being discussed. (I think the Timternet is interpreting the underlying stories too literally). However, it does seem that the reincarnation of Rangers is doomed to die before too long. The combination of legal threats (Whyte and then the inevitable RIFC shareholder suits) plus cash burn rate make survival very unlikely. Under the misapprehension that Sevco FC would start life in the SPL, Charles Green’s club started life with a cost structure that appears to ensure that it will go through whatever sum was raised in the IPO long before arriving in the top tier of Scottish football. Short of a miracle investment from the outside or drastic cost-cutting on a scale that would endanger inevitable promotion, a date with an administrator awaits. When we add the in-fighting between the spiv and ‘Rangers-men’ factions, you would not bet much on the new club’s survival. How long does it have? I do not know the exact cash burn rate today and I do not know how much cash Sevco FC really has. Therefore, I will not put a date on their demise, but bar the intervention of an oil rich Emir, they look done for within the next year or two at the very best.
Of course, events could move much more quickly. In the coming weeks news from the internal investigation will emerge. I have read with interest assorted theories that say that the ‘Rangers-men’ are likely to try to use this information to wrest control of the club away from the spivs. This will likely mean that they have to crash the RIFC/Sevco Scotland Ltd vehicle into a wall and rely upon the SFA to transplant the soul of the club into another newco. The SFA do have the power to render all of the Sevcos worthless by withdrawing their membership and license. Effectively handing a new Rangers membership to the ‘Rangers-men’ would effectively rid Scottish football of Green and Whyte in one fell swoop. The ‘Rangers-men’ have an old pal at the head of that organisation. We should not be too surprised at how far they will be willing to go to gain control. This theory has one major problem and that is where to play. Ibrox could not be guaranteed to be available for rent immediately, but I am sure that the idea is being considered.
If the notion of the ‘Rangers-men’ killing both Sevcos seems far-fetched, I ask- why did they ask for the internal investigation? Assuming that the Malcolm Murray/Walter Smith sect on the RIFC board have no interest in a cover-up, what else can they do with a report that if leaked could put their club’s SFA membership and license in question? If the Craig Whyte connection is proven and the prospect of a Whyte lawsuit given credence, they will be able to paint a picture through their many media friends of the need to return the soul of Rangers to fit and proper ownership. They might even have a good point if it was not for the fact that so many of these ‘Rangers-men’ presided over the collapse of what should always have been Scotland’s richest club.
(Apologies in advance for typos and grammar errors- I don’t have editing rights on here).
Paul I know Blantyre well my mother , father and one set of grandparents are buried there so will see you there.
So you can recognize me l will wear a red carnation …if l die in the interum l will wear a red reincarnation .
:-)
Paul67
‘Blood on the brogues’?!
Was that not the title of a Bob Dylan album?!
Hope you had a great day yesterday celebrating your ??st/nd/rd/th birthday!
How’s the heid this morning?
It’s afternoon here!
HH!!
Pod I, much appreciated ,BBhoy HH
WAS AT THIS MATCH THEY BROUGHT ON
REGI BLINKER AT HALF TIME
A NEW SIGNING
A GREAT EUROPEAN NIGHT
WAS THIS THE TURNING POINT IN HENRIKS
TIME AT THE HOOPS DESPITE THE OG
http://www.youtube.com/watch?v=XgFFqfS4sYQ
‘Parcel of Brogues’ was an ole Steeleye Span LP.
DBBIA/TenManMopCSC
BMCUW, (if you’re still around?)
You got mail.
See you Saturday.
HH