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?
Get your signed copy of Yogi Bare here:
1,049 Comments- Pages:
- «
- 1
- ...
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- »
Norwich will still owe us part of the Hooper fee,so maybe a wee bargain to be had with Snodgrass
TD67.
I never liked that fact there is no appeal against a yellow card.
Unwarranted and a bit like the LG scenario. Why choose one person out of all in view who are indulging in the same, or in my opinion worse?
SS
I don’t believe that any card was issued.
Looking at the Rangers Media website, there is a poll with about 300 votes cast about whether they will renew season tickets now, side with dave King, undecided etc. Not a bad sample size.
The results look like around 50% of the undead will buy season tickets now or before deadline.
This would give them 15,000 to 20,000 giving the board around £300(?) each, or 4.5 to 6 million in May.
This should be enough to see them through to the autumn, where it is all or nothing on a new share issue.
Being tantalising close to the SPL will give the share issue a chance. If it fails to raise around another £10M, it’s administration, unless they sell Murray Park or other assets. If we accept the city investors are not going to accept their holding to be diluted by another share issue, then we assume they are in. The supporters who have withheld season ticket money – the board will be hoping they come back into the fold at this time and purchase their season tickets then, and Dave King and his ‘investors’ take up the rest of the share issue. This will get them through to the SPL, where it will be ‘project get Rangers a CL place’.
For the current regime, the situation is survivable.
However, all the above is hinged upon minimum 50% of supporters taking up tickets. If the amount of supporters taking up tickets is only around 25%, they are probably screwed. They can limp through close season, but need the authority to facilitate and action a new share issue asap, which will probably not come in time to save them.
The future of the club lies completely with the fans.
I think the economy (everyone skint), supporter lethargy, poor team/s, and the divisions in their support will conspire to make them fail to hit even 50% (current sales less than 2000), and they will enter admin in July (12th) or August. God knows how that will play out. There are way too many ‘known unknowns’ to be sure what will happen there.
My view is even with admin and a 15 pt penalty, they will make play offs in Championship and come up. Fourth place should be achievable in Championship, referees will do the rest during playoffs against a hapless Partick or Ross County.
This is probably an optimistic scenario for them. If it wasn’t for the playoffs, the future would be a whole lot bleaker for them.
Snodgrass entering into final year of his contract so we would be able to sign him up at the end of the year, Norwich will see the £3.5 as good business also
supersutton
06:54 on 30 April, 2014
Never liked the fact you can’t appeal a yellow card.
The fact guys can miss a CL /WC Final for 2 yellows is ridiculous,how many chances will a player get to play in such a game? Fans also pay top dollar to watch the best players.Guys should go into semi finals with a clean slate,only a red for violent conduct should get a player suspended.HH
macjay1 for Neil Lennon
Former Livingston player. Saw him in the flesh a few times there and could not believe that nobody had made a move to sign him. I’m sure he left on a free to go to Leeds Utd.
Crazy stuff. Sometimes there are very good players on your door step. Just because they play for a diddy club or in a lower league doesn;t mean they can’t do a job.
Tony Watt has proved that even at 18 you can play at the highest level.
Paul Lambert didn’t look outstanding at Motherwell. Just a decent pro. Borussia Dortmund saw something and a year or so later he is marking Zidane out of the European Cup Final and getting his hands on the cup with the big ears.
There have been countless others who have gone south and looked very good. How we can miss so many of these lads from our own pond is beyond me. Maybe we have just as good youngsters at our club? If that is the case where are they? Not many get a chance. Look at the young player of the year in Scotland. The United left back. Released by Celtic apparently. Signed by Jackie from Queens Park. Takes his chance and looks a cracking player. Gets a Scotland cap and Celtic are now scouting a back up left back for Izzaguire. That seems a bit crazy but I guess that is fitba.
There are some gems in Scotland I guess it is picking the right time to sign them. Players are smarter these days. They know it is better for their development if they are playing games. With the competition set to be at a fairly high standard in the Championship next season I hope Celtic look at loaning some players to various clubs in that league to see if they can hack it in the first team against some decent opposition.
Snodgrass for £3.5m does sound too good to be true as described by Parkheadcumsalford but the Bhoy has made the right noises about coming to Paradise. Maybe Norwich are a club with a heart and after securing Hooper from Celtic and playing a friendly last year thought lets let this Bhoy play for his Bhoyhood idols.
There may even be a clause in his contract to release him for that fee. Who knows? At the minute it is speculation but for me Snodgrass is a player who will not care what position he is playing as long as he is in possession of a jersey and that jersey is green and white. A Bhoy like that will run through brick walls for the team and the fans will love him for it!
LB
justafan
I would be happy to do the job. I might not have played the game at the highest level but Ive been a keen football student for many years and I can see when a certain player is off-form and not contributing. I can also see when the mid-field needs another body . And when to bring on a defensive player(‘s) rather than yet another striker.
And I would impose a strict no alcohol ban. I would also use my influence to get the GB back with increased numbers. That just for a start.
TD
keep on postin’, don’t let the buggers get to you. I disagree with most of what you say but you’re entitled to say it and when required the Blog is entitled to show a yellow card, without fear or favour, when needed.
For? Well you know who you are, no names mentioned,
http://youtu.be/f5UzIzNUvos
BT-VP- Thanks for giving my number to Johann Murdoch re Fire Risk Assessment.Met him last week and doing a bit of business together,a wee donation to Mary’s Meals on it’s way.HH
tonydonnelly67
09:56 on
30 April, 2014
That`s you blackballed in Oz,mate.
See rule number one.
https://www.youtube.com/watch?v=_f_p0CgPeyA
Bada Bing
good to keep it in the family….
BT
Glad you dropped in. Is Oldtim ok these days? Not noticed him around. Asked last night but no response from anyone. Is he well?
Mayan man
They will NEVER get to me mate.
http://youtu.be/f5UzIzNUvos
supersutton
06:54 on 30 April, 2014
Never liked the fact you can’t appeal a yellow card.
The fact guys can miss a CL /WC Final for 2 yellows is ridiculous,how many chances will a player get to play in such a game? Fans also pay top dollar to watch the best players.Guys should go into semi finals with a clean slate,only a red for violent conduct should get a player suspended.HH
——–
Agreed. Fair play and common sense would suggest that an appeal process should be available and trivial appeals which are rejected should double the yellow up to a red.
Snodgrass would be a great addition. A real never-say-die fighter who also has skill and can score goals. He’s one of the major factors behind Scotlands resurgence. Go get him.
http://youtu.be/7B-4Lsrx8IA
SuperSutton,
Sorry to say but the answer is – it depends!
Should Scotland decide leave the UK there would need to be a massive negotiation between the two sides on exactly what the terms would be – assets and liabilities.
The simplest starting point would be for Scotland to take a population share (8.5% I think it is) of both assets and debts. Current UK national debt is around £1,400 billion so on a population share the newly independent Scotland’s share would be about £120 billion.
How the negotiations would go from there is anyone’s guess – and anyone who tells you exactly what would happen either has a crystal ball or is making it up!
hamiltontim is praying for oscar
10:01 on 30 April, 2014
SS
I don’t believe that any card was issued.
——-
Technically I think you are correct, even though it appeared in yellow on my screen (joke).
However, the point remains that singling out one person who is no worse than many others was not good form.
For which I don’t blame P67 as he probably doesn’t have time to read every post and those reported to him out of context from the whole thread of “conversation” could be seen in a different way.
Personally I enjoyed the game of ping pong which TD67 played against multiple opponents. There was merit and demerit on both sides. But all pretty harmless in my opinion.
The Battered Bunnet
09:34 on 30 April, 2014
Seems lamb is off the menu at Andrew Smith’s place.
As strong a piece as I’ve read on the topic: http://www.scotsman.com/sport/football/latest/ally-mccoist-accountability-gap-at-rangers-1-3392216
Fair play if you’re looking in Andrew.
—————————————————————–
It wouldn’t surprise me if that were Andrew’s last press conference with McCoist. Every time McCoist opens his mouth he says something utterly embarrassing. The attempted denial in that piece is up there with the statements he made about not knowing what was in his contract – “I didn’t even look at it – I just signed it” – or words to that effect (I can be bothered looking back for the actual quote). He’s always attempting to present himself at arms legnth from anything that might disenfranchise the fans. He must know he’s a crap manager. He knows what his own wages are. It is difficult to tell if he actually thinks he is pulling the wool over everyone’s eyes. But it is clear to that it’s all a big pretence. His acting career was short-lived for good reason. But everyone wants toi play along with it – the journos, the Sevco fans etc. All pretending that McCoist has no influence or is unaware of what is going on. He’s sitting on 1 million shares and is picking up £760K in wages. Super Salary right enough.
gordon_j backing neil lennon
10:13 on 30 April, 2014
SuperSutton,
Sorry to say but the answer is – it depends!
Should Scotland decide leave the UK there would need to be a massive negotiation between the two sides on exactly what the terms would be – assets and liabilities.
The simplest starting point would be for Scotland to take a population share (8.5% I think it is) of both assets and debts. Current UK national debt is around £1,400 billion so on a population share the newly independent Scotland’s share would be about £120 billion.
How the negotiations would go from there is anyone’s guess – and anyone who tells you exactly what would happen either has a crystal ball or is making it up!
—-
Thanks.
SS
We’ll agree to differ on this one mate :-)
LiviBhoy – God bless wee Oscar
10:03 on
30 April, 2014
Your last sentence is the most significant one for me.
Choosing a player.
Ability,yes.Fitness,Yes.Attitude,under review ? No time servers.(Derk?)
Tim to the core? That`ll do me.
Doesn`t always work,but that`ll do me for starters.
Love your enthusiasm.
It`s contagious.
Twisty
..
been really buy, end of year reports etc..
tried calling him this morning, will try again after next appointment; she is running late,
gordon_j backing neil lennon
10:13 on 30 April, 2014
SuperSutton,
——
I suppose splitting the debt based on population is reasonable. The assets are more likely to be location based, tangible assets I mean. The intangibles, well I haven’t got a clue about them.
http://youtu.be/HwUDUf6JZUc
hamiltontim is praying for oscar
10:15 on 30 April, 2014
SS
We’ll agree to differ on this one mate :-)
—–
No problem, I’m happy with that.
TLOS
Journalists and pundits are either given carte banche to do Celtic down, or they are actually instructed to create negativity around the club. Its obvious why, sells papers to the main demographic. I’d say that Nevin and McLean were working to orders that day, and maybe Leckie was too with the coughgate one. Then there’s the likes of Keevins and Waddell who consistently take digs at CFC, or in the former’s case, loves to level things up by dragging us into any Sevco bad news, no matter how serious.
There’s a long list of former Rangers 1872 players in the media, eg Hateley, Goram, Gough, DL, Johnstone. Apart from the fact that very few are qualified to write a decent column, or debate on a radio phone-in, they dont bother me. In fact The likes of DJ and Duffield have done more damage by their fawning admiration of McCoist, Whyte and Green, which that mob bought into.
No, in my opinion the worst kind are ‘our own’
And Yes, its high time he club snapped back..
Natknow- i believe he has 2 mil shares @ 1p per share,from deferred wages…..allegedly
I wonder how the ones who grassed me up feel today, proud of your selfs?
There are as I have been saying for ages Huns among us, be very carefully.
BT
Tyvm. I tried calling him but get up obtainable tone. I may have his old number.
Many thanks.
Tony
Do you think that the back-up vocalist is Conway Twitty?
Looks like him,but no acknowledgement.
https://www.youtube.com/watch?v=PWPQhH4N4fs
Aff tae ma kip.
The Southern nights are fair drawn` in.
SuperSutton,
Sure – obviously some of these assets are physically in Scotland so it would make sense to start from there.
But what about a couple of hundred embassies around the world? Does Scotland get some of them, or maybe a room in each? Not sure what happens with overseas territories – I guess Scotland could claim a Falkland Island or two and a few sheep!
Not an easy process at all given the sheer scale of the negotiations – if it ever comes to that.
Macjay1
Yes there is a likeness there.
“McCoist stunned at ranjurs losses”
In other news………….
…our plucky rookie expresses some surprise at what bears do in the forest.
Aye.
ShamefulShortie CSC
!!Bada Bing!!
10:22 on 30 April, 2014
Natknow- i believe he has 2 mil shares @ 1p per share,from deferred wages…..allegedly
———————————————————–
Unreal. I just cannot imagine the Celtic fans putting up with this if we were in their position. It amazes me how subservient they are.
Anyone remember or have specifics of what senior Sandaza was due at Ipox.
It was along the lines of
7K 4th tier
8K 3rd tier
10K 2nd tier
12K elite