Gang of 10 Arab Spring rebuked by Duff & Phelps
Comments from Duff and Phelps yesterday that they were not in favour of changing the SPL voting system were intriguing. Kilmarnock chairman, Michael Johnston, was pretty blatant about his agenda when speaking to the BBC on Saturday, suggesting the actions of the Gang of 10 was a “pro-democracy movement” similar to the Arab Spring, saying:
“It might make it easier for the [Rangers] administrators to get whatever they are going to try to achieve whether it is a CVA or new company to be informed and re-joining the SPL and SFA.
“The support of the 10 clubs might be needed at some point.”
Too right the support of the other 10 clubs might be needed at some point if a new company is to join (not re-join, for goodness sake!) the SPL and SFA.
Back in October last year we predicted Rangers would be liquidated, a Newco would be formed and would be voted straight into the SPL, with only Celtic arguing the need to maintain sporting integrity. Everything we have heard since has reinforced this view.
The debate among the Gang of 10 has matured so far they see no issue in openly offering to support a Newco’s entry into the league in return for money (which we predicted earlier this month), mostly generated from Celtic fans, as it happens.
We await Johnston responding by sticking to his high-minded principles and telling any Newco they will not enjoy Kilmarnock’s support.
Duff and Phelps still have an enormous amount to achieve before they will even be in a position to apply for entry to the SPL on behalf of a Newco but if they do, they will surely offer the Gang of 10 a take-it-or-leave-it proposition. The Gang of 10 will take it. This debate is not about democracy, it’s about directors at clubs like Kilmarnock, who I believe now have debts of over £10m, finding a way to deal with their years of unchecked overspend.
The debate around St Mirren director, Ken McGeoch, would surely outrage sensibilities in any country in the world so I’m pleased his fellow directors have called for his resignation. In November last year McGeoch invited Rangers company secretary Gary Withey to a meeting at the St Mirren boardroom where he revealed player contract details.
St Mirren are up for sale and could be purchased for what previously amounted loose change at Ibrox; McGeoch met Withey to discuss him purchasing the club from his fellow directors and shareholders.
For a Rangers director, influence like that should be impossible to acquire.
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