Gavin Masterton, who as managing director of Bank of Scotland in the 1990s, was one of the financial lynchpins behind the issuance of credit to some of the leading investors in Scottish football, and was responsible for what was seen as reluctance to extend competitive terms to Celtic AFTER Fergus McCann’s takeover, today issued notice that one of his companies will be wound up, as it cannot meet commitments to repay loans by new Dunfermline Athletic owner, Christopher McBay.
Masterton came under pressure, which he eventually relented to, to write-off money he loaned to Athletic to allow it to avoid liquidation last year. He also claims these developments will lead to his personal bankruptcy.
In September last year, Ian Fraser, author of Shredded, an analysis of the debacle that was the Scottish banking industry, wrote in his blog;
“Charlotte Eighteen, a shadowy company based in the tax secrecy jurisdiction of the British Virgin Islands, remains the subject of intense interest among Scottish football fans. Allegedly the holding company for the business assets of Gavin Masterton, the former treasurer and managing director of the Bank of Scotland, it looks like it could be the crux to an extraordinary financial scandal at the heart of Scottish football.”
In March last year, Mail on Sunday wrote: “Bank of Scotland wrote off a £4 million loan to a company owned by Mr Masterton – then sanctioned the £12 million loan to another of his companies that allowed it to skip repayments for the next 35 years.”
In 2004, The Sunday Times, explained that while Masterton was at Bank of Scotland, an associate of his received a loan to buy Dunfermline Athletic, which included a guarantee that the loan would not need to be repaid until the borrower’s shares in the acquiring company were sold. Two years later, after Masterton left the bank, his company bought his associate’s shares and gained control of the club.
I bet the British Virgin Islands are nice this time of year.
Sean’s Trust, the charity setup by our late friend, St John Doyle to aid those dealing with stillbirth, are holding a Terry Christian stand-up comedy evening at the People’s Palace on 24 October. The show, Confessions of a Recovering Catholic, is a light-hearted look the legacy of his Manchester-Irish upbringing and has received excellent reviews. Billy NoWell is also on the bill, performing some of his unique material.
There’s a bar and buffet, tickets are only £16, email seanstrust@gmail.com for details.
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Doc
It could be fun watching these 2 , I should be selling tickets :-)
Sevco v Hibs was a poor game of football, but it was brilliant to watch. When the camera panned onto the crowd, the faces of the hurting huns almost made me forget that We are a poor side facing a testing game on Thursday.
Join Date: 29-07-2006
Posts: 20,330
The dishonesty of it all makes me sick.
To be honest (A word that has no currency anymore at the club I love) tonight isn’t really such a surprise.
We are only a heartbeat away from such a collapse in most games.
There is no tactical robustness about our football team.
Defensively we have never been particularly sound since McCoist took over.
He doesn’t understand defence, but then he was a forward after all.
This takes us to the next perplexing fact.
This former centre forward doesn’t seem to understand attack.
He doesn’t know how to shape a team to take the offensive.
Now for the last confusing aspect of this terrible football manager…..midfield?
Shape, philosophy, strategy, ethos.
That’s right, he has none.
But that is just the football part of our failing football club.
There is no real dishonesty here, just sheer incompetence, poor performance and inability.
No the dishonesty is far more complex.
The dishonesty isn’t merely the huge wage received by a man who quite simply is no Robbie Nielson or Alan Stubbs, the dishonesty comes from this man’s complicity with the dishonest cheating thieving regime that runs the club.
In an honest world, McCoist would be sacked by an aspirational ambitious club the size of Rangers.
(Even McCoist must know this, anyone could work this out).
But Rangers as a football club stopped being an honest place the day we were sold to Craig Whyte.
Maybe before this, but that is another debate, but certainly one with a lot of mileage.
However, in our present shape, Rangers are a deformed entity, a criminal enterprise run by men who have no morals, no social credibility and no ethical business status amongst even our own (fanatical and normally forgiving) support.
Sadly the former football legend Ally McCoist aquaplanes millimetres above this dishonourable skid pan that is the reality for our support, and skims the very surface of honesty, integrity and indeed decency whilst at the same time living richly off the moral morass plainly just beneath the surface.
Yet this transparent skein of separation somehow allows him the respect of many if not most within our support, no matter his almost laughable inability to do his job competently whilst being in receipt of a wage that would shame a Wall Street Banker.
However the real and even sad dishonesty is that no matter his poor performance Ally is no different to those that employ him.
This club is no longer about performance or capability or indeed professionalism.
It is a pension fund for bad men, an easy rip off for those who want to be in on the take, a carve up for the morally dishonest.
A man who loved this club and had the integrity of his affection would have been out ages ago and blowing a fckng whistle on it all.
I would, and if you all look into your own hearts…..so would you.
Dishonest dishonest dishonest.
This thread won’t last, it will be gone as soon as admin get their act together, and sadly that is just even more dishonesty.
We really deserve better.
Last edited by bilkobear; Today at 22:25.
#2
Today, 22:27
East Coast Blue Nose
Gold Star Poster
Join Date: 02-03-2011
Location: New Zack Island
Posts: 2,767
Re: The dishonesty of it all makes me sick.
The wig in the dug out.Pains me to say it but this is the fact of the matter for those who can face it.
#3
Today, 22:30
EK Billy Boy
One of the People
Join Date: 29-07-2006
Location: Taking a stroll past Ibrox
Posts: 16,748
Re: The dishonesty of it all makes me sick.
He is as bad as the wigs. No doubt about it. A guy who knocked us back to sign for Sunderland. A guy who listed his favourite other teams as Liverpool and St Johnstone in an interview whilst playing for Sunderland. A guy who is now taking the piss out of each and every Rangers supporter.
A Rangers man? Don’t make me laugh.
#4
Today, 22:32
yarrumdavid01
1st Team Regular
Join Date: 08-08-2006
Posts: 1,185
Re: The dishonesty of it all makes me sick.
Fantastic thread and one with real passion. My real concern here is how do we solve what is becoming a nightmare riddle?
#5
Today, 22:33
EK Billy Boy
One of the People
Join Date: 29-07-2006
Location: Taking a stroll past Ibrox
Posts: 16,748
Re: The dishonesty of it all makes me sick.
Quote:
Originally Posted by yarrumdavid01
Fantastic thread and one with real passion. My real concern here is how do we solve what is becoming a nightmare riddle?
I fear there is no solving it. We are ****ed I think.
#6
Today, 22:34
Earl of Leven
Gli Azzuri – Non mollare mai
Join Date: 07-08-2006
Posts: 91,113
Re: The dishonesty of it all makes me sick.
Great post…superb.
#7
Today, 22:36
charltonman
Trialist
Join Date: 30-07-2006
Location: London
Posts: 78
Re: The dishonesty of it all makes me sick.
A very good post Bilkobear. Just really sad that it’s come to this.
#8
Today, 22:38
braeside58
REMEMBERING THE BRAVE 13.
Join Date: 04-08-2006
Location: Loyalist Greenock
Posts: 5,253
Re: The dishonesty of it all makes me sick.
fantastic post OP.
#9
Today, 22:38
govan86
FF Squad Member
Join Date: 18-01-2007
Posts: 711
Re: The dishonesty of it all makes me sick.
When will this nightmare end? A shower of lying cheating b*******s in the boardroom who are seemingly incapable of being removed, a management team who do not appear to have the slightest clue about how to set up, coach or prepare a team and players who do not have the ability to stand out at Irish league level. we are in a bad place at the moment. I agree we have been for a number of years since W****e was allowed to come into our club but this season has brought home just how poor the fare on the park is. Where do we go from here?
#10
Today, 22:38
turrabear
True Blue
Join Date: 04-09-2008
Posts: 19,525
Re: The dishonesty of it all makes me sick.
Quote:
Originally Posted by yarrumdavid01
Fantastic thread and one with real passion. My real concern here is how do we solve what is becoming a nightmare riddle?
your right mate. but passion is something our team and manager lack.
#11
Today, 22:38
two2tango
True Blue
Join Date: 31-07-2006
Posts: 17,584
Re: The dishonesty of it all makes me sick.
Bb
A man of integrity would have blown the whistle on the lot after the agm
That day was the last straw for me
Mccoist for maximum impact should have walked after Wallace hived the assets 6 weeks after saying everything fine for medium term
#12
Today, 22:39
xelaxela
FF Squad Member
Join Date: 14-08-2006
Posts: 928
Re: The dishonesty of it all makes me sick.
I have no doubt that Ally loves the club but the problem is that he is not very good at his job. It’s all very well not walking away but he should never have written a cheque with his mouth that does not have the abilities to cash.
#13
Today, 22:39
Aldo Novo
He said no thanks, yer a bunch of whanks
Join Date: 23-10-2007
Posts: 174
Re: The dishonesty of it all makes me sick.
Excellent post. Finally lost any remaining faith tonight that McCoist was the last link to the Rangers I loved. Has to go now – I just saw 14 professional footballers devoid of tactics, motivation or passion and the buck has stopped.
#14
Today, 22:39
cambridgeblue
Five Star Poster
Join Date: 02-08-2006
Posts: 9,670
Re: The dishonesty of it all makes me sick.
Very good post.
Sums it up concisely.
#15
Today, 22:39
elviscole
FF Squad Member
Join Date: 31-07-2006
Posts: 845
Re: The dishonesty of it all makes me sick.
Very well said.
Ally is one of very few who could blow the lid on going ons – and could easily turn the masses against the Board. Sadly he is now part of the mess.
#16
Today, 22:39
bornabluenose
We welcome the chase.
Join Date: 29-07-2006
Location: Surfing with the alien
Posts: 7,609
Re: The dishonesty of it all makes me sick.
He is not only a poor manager he is abysmal the O.P is spot on .
His team selections are predictably mundane and his tactical awareness non existent .
From top to bottom we are a club in intensive care.
#17
Today, 22:40
Earl of Leven
Gli Azzuri – Non mollare mai
Join Date: 07-08-2006
Posts: 91,113
Re: The dishonesty of it all makes me sick.
At every level we look ****ed.
It’s heartbreaking but I’m starting to fear that this will not end well…despite my optimism normally meaning I spy some hope from somewhere.
#18
Today, 22:40
Blue 9
Gold Star Poster
Join Date: 14-02-2009
Posts: 3,445
Re: The dishonesty of it all makes me sick.
Quote:
Originally Posted by EK Billy Boy
He is as bad as the wigs. No doubt about it. A guy who knocked us back to sign for Sunderland. A guy who listed his favourite other teams as Liverpool and St Johnstone in an interview whilst playing for Sunderland. A guy who is now taking the piss out of each and every Rangers supporter.
A Rangers man? Don’t make me laugh.
There is no doubt that he is failing as a manager , but some of your comments are ****in disgraceful .
#19
Today, 22:41
Craigm1972
We’ve Got The Battle Fever On
Join Date: 16-11-2008
Posts: 1,202
Re: The dishonesty of it all makes me sick.
Ally McCoist is Vichy France.
#20
Today, 22:41
Northampton Lodger
Gold Star Poster
Join Date: 29-07-2006
Location: Down In the Tube Station At Midnight
Posts: 3,559
Re: The dishonesty of it all makes me sick.
Brilliant post – comments in before the Ally love brigade in Admin chop as usual.
#21
Today, 22:42
Guernsey Blue
Trialist
Join Date: 19-01-2013
Posts: 32
Re: The dishonesty of it all makes me sick.
Quote:
Originally Posted by EK Billy Boy
He is as bad as the wigs. No doubt about it. A guy who knocked us back to sign for Sunderland. A guy who listed his favourite other teams as Liverpool and St Johnstone in an interview whilst playing for Sunderland. A guy who is now taking the piss out of each and every Rangers supporter.
A Rangers man? Don’t make me laugh.
I agree I said this a couple of weeks ago and got slaughtered, the only true rangers men are the fans
#22
Today, 22:42
jackdaniels78
Five Star Poster
Join Date: 29-07-2006
Posts: 5,273
Re: The dishonesty of it all makes me sick.
Agree with every word
#23
Today, 22:43
cambridgeblue
Five Star Poster
Join Date: 02-08-2006
Posts: 9,670
Re: The dishonesty of it all makes me sick.
Quote:
Originally Posted by elviscole
Very well said.
Ally is one of very few who could blow the lid on going ons – and could easily turn the masses against the Board. Sadly he is now part of the mess.
Blowing the lid after he is sacked will sound like sour grapes.
#24
Today, 22:45
barryhopez
Peter Barlow Loyal!
Join Date: 31-10-2010
Location: in a bar in Berlin!!!!
Posts: 4,112
Re: The dishonesty of it all makes me sick.
A very good OP, and I agree with it all.
Fans have been making excuse after excuse for his actions off the park, let alone his failings managing what’s on it.
#25
Today, 22:47
supergers07
No! No! No!
Join Date: 18-06-2007
Location: Parts Unknown
Posts: 27,908
Re: The dishonesty of it all makes me sick.
Acgr,
You really need to go on hunmedia.
I know it’s your cup of tea seeing thems hurt. It’s magic you know, it’s going to be ten in a row.HH
Oh dear, oh dear, just when we thought it couldn`t get any better tonight, this is in tomorrow`s Telegraph >
http://www.telegraph.co.uk/sport/football/teams/rangers/11129371/Rangers-facing-new-legal-threat-as-Worthington-Group-recovers.html
http://www.telegraph.co.uk/sport/football/teams/rangers/11129371/Rangers-facing-new-legal-threat-as-Worthington-Group-recovers.html
HH
Just when Sevco think it can’t get any worse,look who’s back—Rangers facing new legal threat as Worthington Group recovers – Telegraph http://t.co/BoHDd4TkuA
One thing the result did for me tonight was take the hurt away from them feckin customs chapies, parcel from China, goods cost 90 odd euros, always under the 100, they tend to get through without any bother, they added the shipping on the invoice by mistake, hit for 50 smackers import duty, min. admin fee minimum of 14.50 euros, and then they add the feckin VAT, and I didny even have a wager on the result, still a happy bunny.
Even happier would to see them barstewards erased from the face of the planet, but that’s never gonna happen, so any pain they are inflicted with will just have to do.
HH
from RM
We are truly and utterly shit,can’t think of much more to say..from the boardroom to the manager to our shit players it’s fucking embarrassment after embarresment.
I see sick peepul
scariemoviesCSC
HH
The ole earl of leven disny give up, tosser
It is obvious now. The telegraph story was obviously leaked to the dressing room before the game, it’s not ally’ s fault after all. Chuck or Craigy are are to blame again.
From the Telegraph -the bit at the end is comedy gold
Rangers could face more expensive litigation now that the Worthington Group, the investment company which announced to the Stock Exchange last year that it was staking a legal claim to ownership of the business and assets of the club, has made a remarkable recovery.
In April 2013 the group revealed that it would be pursuing the holding company, Rangers International Football Club, through the courts, insisting that Sevco 5088, the company formed by the discredited former Rangers owner Craig Whyte, had been awarded the sole rights to buy the club by the administrators Duff and Phelps.
Instead, it was Sevco Scotland, fronted by the equally controversial Charles Green, which ended up in charge, with the former Rangers chief executive publicly admitting last year that he had lied to Whyte to gain control of the new club in the summer of 2012.
As a result, the Worthington Group reported Green to the Serious Fraud Office. But its legal action appeared to have been abandoned when the Financial Conduct Authority suspended trading in its shares – then worth just 4p – at the Worthington Group’s request on Aug 1, 2013.
However, since that ban was lifted four weeks ago, its share price has soared to £198.50 and yesterday it announced the acquisition of assorted digital media investments.
With the improvement in the company’s financial health, it is now in a position to progress the challenge regarding its right to own the Championship challengers.
That began last year when the Worthington Group bought a 26 per cent holding in Law Financial Holding Ltd, a company belonging to Whyte who, in turn, is believed to own a 7.54 per cent stake in Worthington. Sevco 5088 is one of the subsidiary companies owned by Law Financial.
With a current market value of around £25 million, Worthington is worth around £10 million more than Rangers, who are struggling to raise the money to pay their bills.
The Worthington Group did not return calls on Monday, but appear as if they are not walking away.
HH
Craigelachie10
So not global warming?
I’ll need to get off the Voddy, everythin I read is so feckin distorted….
25 billion cut from welfare scroungers!, who gives a shit, they had the chance to vote YES.
Celtic sell 1500 tickets for diddy competition.
Nicky Law contender for goal of the season sends packed Ibrox into dreamland.
Moshni assauled by Hibs player.
Alistair nominated for Bells manager of the month.
Hibs player deliberately play the ball against McCullough
Worthington group to invest 50 mil in sevco.
Either that, or I’ll need to stop reading the Daily Ranger.
Depressed Rutherglen.
#19
Today, 22:41
Craigm1972
We’ve Got The Battle Fever On
Join Date: 16-11-2008
Posts: 1,202
Re: The dishonesty of it all makes me sick.
Ally McCoist is Vichy France.
—–
I’m now thoroughly bemused. I thought Vichy France’s MO was wretched collaboration avec le Hun?
So I thought they’d like that sort of thing?
We need someone to tactfully seek ‘clarification’ (in a Gerry Adams voice). When uber tact is called for, ACGR is called for!
HH jamesgang
Has the penny dropped
over on Rangersmedia ???
Quite frankly we’re fucked as a competitive club in Scotland. We have no investment, no coaches to bring youth, no manager to get the best out of what we have and most importantly, no united support willing us on.
I said it before, we’re Leeds Utd, we just don’t know it yet.
Tuesday’s @Daily_Record back page #scotpapers http://t.co/OarbBHvZu3
Sally finds a scapegoat
There’s only two Sevco’s.
!bada bing!!
23:22 on 29 September, 2014
Tuesday’s @Daily_Record back page #scotpapers http://t.co/OarbBHvZu3
Sally finds a scapegoat
#############################
Does that mean he’s no theirs noo…!
Ayrshire is Green and White
bsr,
the keyring post earlier brilliant
Night Night Timland. KTF
Weefra HH praying to Wee Oscar.
Ha ha ha so its all Mohsni`s fault.
Two hours ago Chick Young was calling McCoist the glue that was holds the club together. And now he`s publicly blaming players for his own failings….that won`t exactly do anything for team spirit.
Mohsni is a complete roaster, I suspect he won`t take this lying down.
I think McCoist is trying to work his ticket….seems to me that the exit strategy is now in play. Keep an eye on Derek Adams.
Captain
Who’s R M??
captainmoonlight in awe of oscar knox ynwa
23:09 on 29 September, 2014
WOW, THAT IS DYNAMITE …… so that’s why the spivs are trying to keep going, because the ownership of the assets is still being contested …….. they are finished……once the courts decide who owns the assets, that owner is going to sell them…….WOW … TICK TOCK
Geordie Munro
Wooppppiiieee Dooooo for you.
Now since you don’t have the answer I’ll just assume the use of 26..28 players in first 15 matches of season is pretty high compared to whatever NFL used last year.
So stick that in you big PIPE.
NO (I mean now) if you want to disprove it then Fire away since you decided to get involved.
Heid hauns shaking forehead astounded of is I
MWD said AYE
Moshni Hawd on I got ewes a replay in the cup when I flattened the wee Rovers keeper!!
Your all a tad harsh on Alistair tonight
RIFC are recently promoted from D1 while Hibernian finished 11th in the spfl and only got relegated due to a loss at home in play off with the high flying Hamilton who sit in the top 3 of the spfl ;)
I had the pleasure of a business dinner tonight ( at their expense ) with a RIFC season ticket holder .. His phone kept beeping and when I asked him ” wassssup ” he said ; were getting pumped with hibs
I said ” ooops ” and sliced a piece of fillet steak off ;))))
Oh and that was a reply to you from P4 just in case your scrabbling about wondering.
MWD said AYE bendy bananas said naw so Tories and labour can shaft the poor. I applauded your indestupidability.
HAHAHAHAHAHAHA
https://vine.co/v/OZLFOjxrjUO
jude2005 is Neil Lennon \o/
23:36 on
29 September, 2014
Captain
Who’s R M??
====================
Ra&*£rs Media
HH
Who gives a munkees tail about the resurrected. Just good to see an x-Tim come good managing the Hibees. Although I doubt Stubbsy will see it as any great shake.
MWD said AYE
Missed the fun here tonight as just in from a thoroughly heart warming evening in the company of Billy Connolly at the Music Hall in Aberdeen. Over the arc of his youthful powers but still tremendously funny and entertaining. As he retold his stories with a softer voice than before the audience listened in silence, until unable to subdue laughter any longer. Wonderful night, given his recent challenges. Those of you seeing him in the coming weeks are in for a treat.
67 Heaven…………..and that’s when it was 0-0 !!!!
67Heaven … I am Neil Lennon ….The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors
23:42 on
29 September, 2014
HAHAHAHAHAHAHA
https://vine.co/v/OZLFOjxrjUO
———————————————————————————————————
funny!
poor wummin , nah feck that, poor guy, nah feck them, deserve whit they goat ;)))
HH
David Low has bee highlighting for weeks the recovery in Worthington shares,soon be time for Craig Whyte to get his hands back on the “Hate factory” after his mates have soooooked the marrow dry for him :)))
ps only seeen a few pics tonight was the fat sleekit coward Mccoist wearing
mascara :)))))?
Guy’s, mind your language, huns read this site, haw haw haw.
Night all. Night wee Oscar my hero god bless x x
Goodnight Timdom, up early as usual, Hail Hail.
We’re on the one road, sharing the one load,we’re on the road to God knows where,
we’re on the one road, it maybe the wrong road, but we’re together now who cares?
North men! South men! comrades all,Dublin, Belfast, Cork and Donegal,
we’re on the one road singin’ a song, singin’ a Soldier’s song.
KTF
HH