I hear legendary Sevconian statement issuer, Jim “Rangers are dead” Traynor, is now firmly established in the Dave King camp. You may have found recent statements familiar, including last night’s, which focusses more on interrupting Celtic’s period of domination than building a well-run and sustainable football club.
Or it could be that Dave King is in Traynor’s camp, it’s hard to tell who is the monkey and who is the organ grinder when it comes to that lot and their long and dysfunctional relationships with PR masters.
My suspicions were raised when the Sunday Mail ran a complete non-story on their front page. Someone submitted a frivolous complaint to police – this is your news, Scotland. This was the kind of article which would be found in the same publication when Fergus McCann was in charge at Celtic; an unadulterated attack on the club. Now poor (not actually poor) Graham Wallace has to deal with them.
What price ‘loyalty’ after Traynor had his snout in the trough to a spectacular level too. We actually have a recipient of some of that enormous over-spend criticising the enormous over-spend. After his money was banked, of course. For the life of me I can never understand why the other lot put up with these types.
King’s eight point statement was an absolute hoot and completely inspired by Celtic’s position. There seems to be a pattern here: do wrong, then criticise others for doing as you did.
Point One:
King first addressed the liability for blame, and possible criminal investigations, which he believed should be heading towards the Rangers International board in the wake of comments made by chief executive, Graham Waddell, five months ago. He wrote:
….“It is beyond doubt that the CEO (and other board members) was aware last December that there was insufficient cash to last until the end of the season and the board failed to respond to my previous question in that regard. The CEO is now subject to a criminal complaint on this very issue but I believe that his comments were made with the full knowledge of the board. Certainly no one came out to contradict him. We should therefore expect any criminal investigation to extend to other board members.”
Dave King was a director of now-liquidated Rangers throughout the entire Craig Whyte era, when the club borrowed money from Ticketus to fund the payment of Lloyds debt, failed to pay social taxes and came crashing down. Whyte lied about the Ticketus deal but his non-execs kept their eyes, ears and mouths shut.
King was also a director of Rangers for over a decade, including the period of the David Murray-Campbell Ogilvie EBT shambles, which was proven to be illegal on five counts, the other counts are currently subject to an Upper Tier Tribunal.
Point 2:
“If cash was wasted as a result of mismanagement (presumably Charles Green etc.) then what steps are being taken to hold management accountable for this?”
As a non-executive director of failed Rangers FC PLC King was employed to ensure interests of stakeholders were being looked after. He failed singularly in this regard and has yet to be held to account.
Point Three:
“The board has conceded that it does not plan to effectively compete with Celtic in our first season back in the Premier League.”
This is sanity, not vanity. To suggest Newco throw so much money at the team that the instantly become competitive to Celtic is a sure-fire way of guaranteeing yet another insolvency event. These. People. Never. Learn.
Point Four:
“This is a great review for Celtic fans. It is stated that the board might only raise 20 million over the next 3 years. This paltry amount will guarantee that Celtic will be in a league of its own for the next few years- and possibly permanently thereafter. Celtic will continue to enjoy exclusive access to the Champions League windfalls and will go from financial strength to strength. The gap could become financially irreversible.”
Agree that Celtic will go from strength to strength and be remain a league of their own. Disagree that the review was great for Celtic fans. The review is little more than a laugh for Celtic fans, it changes nothing for us. I like the “permanently thereafter” line, though. It carries a bit more weight than “Generation of Domination”, which sounded ridiculous to some 9 years ago when it was first mooted but now sounds a tad understated.
Point Five:
“The board still does not have a clear plan for raising capital despite knowing for some months that a financial crisis was looming.”
Correct. On a related matter, Mr King has offered unspecified notions that he would encourage other people to buy tens of millions of pounds of shares, no clear plan has been identified, exactly what he accused Newco’s board of.
Point Six:
“It is interesting that the credit card companies agree with me that the season tickets should not be released to the club. However, it is genuinely shocking that this board has, for several months, withheld the knowledge that fans would not have access to credit card facilities when renewing season ticket purchases. The board preferred to blame “external parties” in an attempt to hide this serious non-disclosure. How can this board ask fans to ever trust them again?”
I think Mr King may have composed this comment ‘after a long lunch’. Credit card companies have not suggested season tickets should not be released to (sic.) the club, they simply don’t want anything to do with these transactions.
It is not shocking at all that the decision by credit card companies was not shared by fans for a number of months. Wallace would have spent much of this time looking for an alternative. It would have been inappropriate for a PLC to disclose sensitive financial negotiations to the general public months before that information becomes relevant.
Point Seven:
“The board continues the blame game and takes no responsibility for the current debacle. In truth, it is this board’s stubborn refusal to secure fresh equity that is the cause of the present fragile state of the club’s finances. The board clearly hoped to muddle along by using the season ticket advances from fans. This review should reinforce to fans that this board cannot serve as an appropriate custodian for their season ticket money.”
If fans want to know who to blame for the death of Rangers and the undignified mess Newco are in, they need look no further than the boards headed by Sir David Murray and Craig Whyte, both of which Dave King served on. Blaming Wallace instead is nonsense.
Point Eight:
“The board has admitted that Rangers is not presently a “going concern” and yet offers no plan on how this will be dealt with in the short term. Fans could once again lose their season ticket advances if given to the club at this time. It is unconscionable that this board has done nothing to bolster the finances since the last AGM.”
Fans of Oldco or Newco have never lost their season ticket advances. What is he thinking of? Does he know what club he’s talking about?
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1,049 Comments- Pages:
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Macjay
Thanks for that but couldn’t leave this one on the page,\
https://www.youtube.com/watch?v=kGeCeK85sUg
Jimmy Cliff – Many Rivers to Cross
Mags –
Isn’t that a contradiction?
Try reading your second paragraph as a response to your first paragraph and see what you get.
GCT
Don’t get it. Can you point it out to me? By bored I mean Board. Is that it?
Macjay1
I do enjoy these wonderful times.
Since the Lions retired, well all except John Clark, we have never had such a dominant position in Scottish football.
We are the only power house in the game.
We can complain about the board, the style of football, price of pizzas, the songs we sing, our signings, the imbalance of the press, the strident debates on CQN, but in the end these are but flea bites on the hind quarters of an elephant.
An elephant with no predator around and plenty of foliage for grazing and raising a young team.
We should also note that we have accomplished it all legally and above board.
Hail hail the champions
‘GG
04:38 on
30 April, 2014
I do too.
As you have perhaps gathered,I do have some concerns about the health of the Club going forward from “the house divided against itself.”
I sincerely hope I am wrong.
It wouldn`t be the first time.
But I may have been mistaken.:-)
As you say, wonderful times.
RWE 4.07
Thanks for that.
That`s one powerful voice.
Hadn`t heard that track before.
macjay , had to laugh at this “I want as many people to watch Rangers as humanely possible, if I could change it, [the uptake] I would change it, but we just have to play the cards we’re dealt and get on with it. We’ve got to remain half full rather than half empty. We’ve got a great game to look forward to [away to Dunfermline] and then, what a league we could be in next year, so that keeps us going.”
what is humane about watching zombies? lmao
GG
04:38 on
30 April, 2014
The Lions were Lions becaue they were the implementors of Jock Stein’s European vision for Celtic. I see nothing analagous to that today. In fact I woud go as far as to say that Celtic’s current dominant position in Scottish football is ultimately a consequence of that original vision as the huns cheated themselves out of existence (hopefully) by trying to erase the legendary Lions era.
Weefrathetim
Can you get my contact dets from one of the Bhoys (CRC / Doc ) and drop me an email or a text. Ta
Hail! Hail! To the wee lambs.
MWD
margaret mcgill
04:06 on 30 April, 2014
Curious as to the other ways you fund Celtic without the money going to the donuts?
I am not long up so forgive me but surely if you fund Celtic by any means the money in the end does end up with donuts i.e. They are the custodians of CFC and as such manage all monies received?
Keep the Faith!
Hail Hail!
Mikel Lustig off the injury list now,Nir Biton expected to recover soon from his injury,wee Adam Matthews playing well once again.
Stefan Johansen.
You add Tony Watt,and James Forrest to the attack along with LG and Stokesy.
The strength and class of the squad is remarkable.
Get Nigeria,England and Honduras eliminated from the World Cup as quickly as possible.
It is imperative that the club do not sell any players until after the CL qualifiers,if at all.
If we bring our best to these games,then getting to the group stages of the competition shall be a formality.
Marvellous.
charliebhoy
05:52 on
30 April, 2014
Cheers,pal. :-)
I missed that.
Perhaps they should be put down humanely,although it`s a bit late for that.
16 Roads –
We have Moyoukolo coming back next season too.
Lennybhoy…Supporting the DAM 5, Neil Lennon, Wee Oscar Knox, and CFC until I die
06:20 on
30 April, 2014
Think Internet bampots.
macjay –
I noticed it, but dismissed it as a misprint rather than what McCoist actually said, on the basis that if he HAD said humanely, the paper would have corrected it for him in print.
Oh what cynics we have become :-)
margaret mcgill
06:26 on 30 April, 2014
Cheers mate, the penny drops so to speak…:)
Right off to get the fast Train to G1, have a great day Timland.
Until we meet again…
Keep the Faith!
Hail Hail!
Gold Coast Tom
06:24 on
30 April, 2014
——————————————
Forgot about him mate,only know that he is a wee bit injury prone mind you,but he could well turn out a decent enough squad player.
I’ll tell you one thing though – wouldn’t envy poor Lenny having to try and control LG,Stokesy and Tony Watt.
Bring back Chris Sutton,he won’t tolerate any nonsense from them.
Also bring back Henke to coach them.
HH.
my boss is peter principle
06:32 on 30 April, 2014
googybhoy ♥ we are all neil lennon
20:20 on 28 April, 2014
stairheedrammy
20:09 on 28 April, 2014
I know I know. I should ignore him
And usually do but I had to respond when one of his fawning acolytes stepped in.
Will go back to ignoring him. It is not my way to argue by insults and no factual basis for my opinions,
my boss is peter principle
20:21 on 28 April, 2014
googybhoy ♥ we are all neil lennon
20:20 on 28 April, 2014
stairheedrammy
20:09 on 28 April, 2014
I know I know. I should ignore him
And usually do but I had to respond when one of his fawning acolytes stepped in.
Are you talking about me?
googybhoy ♥ we are all neil lennon
20:41 on 28 April, 2014
my boss is peter principle
20:35 on 28 April, 2014
I think you know that as you involved yourself in a discussion between myself and TD67.
googybhoy ♥ we are all neil lennon
22:09 on 29 April, 2014
paul67
Well said.
googybhoy ♥ we are all neil lennon
22:12 on 29 April, 2014
paul67
Well said. There are many posters that have walked away rather than listen to insult as as a basis of argument.
Googybhoy, you are a brown nosing wee f@nny.
Nobody goes anywhere until after the qualifiers,and you won’t have to spend a ha’penny in the meantime…the squad really is that good at this moment in time,barring injuries obviously.
If FF or Virgil are sold on,after we get to the group stages,all the money is re-invested,and then some.
Say hello to the Celtic…say hello to brave.
TheFutureIsSoBrightWeAreGonnaHaveToStartWearingShadesCSC.
Never liked the fact you can’t appeal a yellow card.
Qustion for yogi if you’re about later.
I’ll be at work today and as I work in construction it is unlikely I’ll be able to post a question during your Q&A session. I enjoyed your last session and realise that you are particulary answering question on the Morton/Aberdeen games but thought I’d ask one anyway.
Anyway here go’s, I remember reading a storey about the Scottish world cup squad of ’74. Basically they were in a hotel prior to the tournament and the got to enjoy the company of a German lady who was particulary fond of footballers. My question is were the Lions victims of those horrible nasty groupies we hear about that folow rock stars? And for a bonus point who was the most succesful Lion when it came to women?
Good morning friends from East Kilbride where the clouds have rolled back in to give a grey but dry start to the day.
Test
good morning jobo from a similar overcast hamilton
Now raining. Boooooooo. Away to work…
Is it Friday yet?
Toast n cheese layered with Rasperry Jam.
Good start to day.
MWD
Gold Coast Tom
06:27 on
30 April, 2014
Life has made me cynical and my cynicism has seldom proved to be unfounded.
I`m sorry to say.
A bonny nicht with turra’s finest Tims, and ylurc, beckons.
I may need to use my credit/ debit card to avoid financial embarrassment.
Luckily I have such a facility.
Inside The SPFL @AgentScotland · 6h
Celtic will sign Robert Snodgrass from Norwich City in the Summer for £3.5m, both clubs agreed the deal in January
Kayal33
Good news if true.
An excellent player on the left side.
Surely spells the end for Derk and any lingering hopes Sammi would stay ?
Good Morning everybody.
Looking for a bit of clarity around the whole points deduction for an insolvency event.
IF Zombie FC go into administration after the end of this season and a points deduction is applied for season 2014/15, then they come out of administration before the start of next season,does the points deduction still apply?
tonydonnelly67
G`day, mate.
Certainly hope Snodgrass is a target for us. All action, 100% ‘er.
On signings:
Stokes
Foster
Mulgrew
Matthews
Wilson
Commons
Ledley
Hooper
Griffiths
All players signed in recent years whom I feel have done quite well in some cases, very well in others, and exceptional in the case of Kris.
All from clubs within Scotland or England.
Vic and Virgil ,Mikael and perhaps Efe the notable players in recent years in respect of value from foreigners coming in?
I won’t argue with anyone who wants to add to the foreign player list of recent years, eg being perhaps Joss, but in general, is the domestic market looking as good a place to shop as the foreign leagues? Better value for money? Players more suited to the ” British’ style of football?
john o’neil
22:39 on 29 April, 2014
Evening all.
TD gets more abuse than Rangers supporters, such as Edward U, get on here. Odd.
—-
Not Odd at all, Ed is an absolute gentleman both on and off the blog. He has been a welcome poster to this blog over the years. He has never entered into petty insults when he disagrees with another poster, and disagree he did often!
Medtim
http://spfl.co.uk/docs/067_324__therulesofthespfl_1375800603.pdf
Page 37
Oh, but remember, where Sevco are concerned, rules are there to be broken!
tnt….
Izzy?
Lustig?
Naka?
Majic?