Milan’s mistake with their Champions League squad – they inadvertently included Stephan El Shaarawy in their restricted A List of players, instead of the B List, denying a place in either list for M’Baye Niang, is welcome news. Their squad is strong, with or without Niang, but the oversight lends credence to the notion that a malaise has settled over the club. Director, Umberto Gandini apologised, but already the Milanese are focused on what they don’t have in their armory as a result of the oversight – an excuse for failure is ready made.
I met the owner of an IT company shortly before they went into liquidation and asked him who he had on his board. “Are you not on our board too?” was his jocular response. The company had already gone through a couple of difficult years. With each passing period investors became increasingly concerned; they all wanted a place around the boardroom table, convinced that their gilt-edged experience would be able to guide the company through its troubles.
The chief exec had to cope not-so-much with a boardroom full of captains of industry (which they were), as another pressure group to satisfy, along with clients, creditors, staff and the bank (they may have been weeks from liquidation, but they still had borrowing, this was not a Metro Bank deposit account-only operation).
The chief exec understood the industry and, left to his own devices, stood a sporting chance at survival, but when the boardroom table became occupied by a parcel of rogues the game was up.
On a completely separate matter, I am delighted at the prospect of Paul Murray and John McClelland having a second shot at being a non-executive director of a football club. Wikipedia’s definition of the roles of a non-exec is worth a cursory glance to indicate why. They did so well last time. The others, who it is proposed will share a place at Newco’s table, also appear perfect for the role. If only Sir David would come out of retirement and join them.
Will one of the many directors insist that The Rangers Football Club Ltd submits its Annual Return to Companies House? Under its previous name, Sevco Scotland Ltd, The Rangers Football Club Ltd bought liquidation assets from Duff and Phelps, and which, according to Rangers International’ PLC’s interim financial statement in March, was incorporated into the PLC’s group.
The Return is over two months late. Perhaps, with so many directors available for comment, one will be asked by a journalist or shareholder why the company which bought all the assets has not submitted basic information, revealing ownership details. Perhaps not. No hurry, a striking off notice will be weeks away.
[calameo code=000390171c1dd95770bec lang=en page=100 hidelinks=1 width=100% height=500]