Back in 1994, when our day of greatest need arrived, Celtic fans had already invested years in developing a recovery strategy in case the club faced extinction. A disparate group of “rebels” filtered out good ideas from bad, established a platform for recovery and ensured that when the hour came, one man was ready and able to walk into a branch of Bank of Scotland and deposit a large sum of money into Celtic’s account, while others rallied support and prepared for the recovery.
Those rebels eventually went their own ways as many of those who stood shoulder-to-shoulder with Fergus McCann found allies in conflict didn’t make for friends in peacetime, but the rebels were united long enough to Save our Celts. Without their preparation, Celtic would have quickly gone into administration and who knows where thereafter.
Compare and contrast with Rangers in their hour of need. There is no preparation, no consensus of the willing, not even an acceptance that this is, in fact, an hour of need.
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Awe_Naw_No_Annoni_Oan_Anaw_Noo says:
31 January, 2012 at 14:37
Ogilvie’s appointment was scandalous and his position is untenable.
The idea that he’ll have a role to play in clearing up the havoc the huns’ liquidation is going to cause shows just how corrupt Scottish football is.
It’s a disgraceful state of affairs.
Declan
I love ‘anonymousness’. Tell me were you the guy who phoned Real Rdio a few years back in the days of ‘Young and Rough’ and brought the programme to an abrupt halt as they were all in tears of laughter when it was suggested that something was an ‘atrociosity’.
dirtymac
interest charged on the accounts for 2010 and 2011 show figures of £170k and £179k
interest rate being charged on our loans is around 2% (LIBOR + 1.125%)
On that basis our average borrowing over the 2 year period is around £9m.
We have a £22m loan facility – balance has been £11m last 2 years.
Overdraft is £12m – with an average balance of £5m in credit, £7.5m the year before.
You dont need monthly accounts to work out that we have access to cash and havent used it.
Thing about that MBB statement is, it will placate an awful lot of people.
It’s a well-manufactured, soothing bit of fluff.
When Rangers go under…..
I keep hearing the same garbage battered out by all non Celtic football fans.
Who would want to play in a one team league?
The league needs Celtic AND Rangers?
How would Celtic attract any players?
We need the TV deal.
Not one of them has memntioned that they have more chance of trophies or Europe.
A few Hibs supporters and Aberdeen supporters are delighted bu the rest aren’t. They are peddling the old line that we need Rangers.
It’s an easy argument to satisfy.
When Celtic were finishing 3/4/5th in the league in the 90’s where was the concern for a strong Celtic?
When it was a one horse race for the SFL did Rangers have problems attracting players to Ibrokes?
Did the other clubs complain that their attendances were decent due to matches not being televised live?
The facts are simple. People are out of the habit of attending games and want them on TV. Forget the TV deal if it’s pulled. We can go to matches and bring the atmosphere back.
The mess Rangers are in is their own doing. Nobody else has been so stupid. Whyte has made it even worse and they are going to be in this state for years. I don’t believe they will fold now. They don’t have the assets to pay all they owe. Years of gloom ahead for the Orcs.
I need to head off to hospital now to get an operation to remove the smile from my face!
LB
Today is Transfer Deadline Day, or as the Huns call it Tuesday.
Now we have Alastair Johnston speculating that the secured creditor status no longer resides with Whyte, but with Octopus. That really would be farcical.
In our search to discover Machiavellian scheming from Whyte and his henchmen, could we have overlooked one possibility? Namely, that the string of failed companies he has left in his wake point to him being something of a psychotic narcissist, with delusions of grandeur?
Good morning Bhoys.
Are they gone yet?
James_Oregon
TootingTim says:
31 January, 2012 at 15:00
Classic spin which will work till the next time and the time after that…
Whyte’s statement:
To all Rangers supporters,
I write to you today to address a number of key issues facing the Club.
First, I would like to address specifically the latest attempt to undermine Rangers in today’s Daily Record which devotes five pages to trashing our efforts to get this Club back on a sensible financial footing.
In the most lurid terms, the Record accuses the Club’s management and, specifically me, of using supporters’ money to help fund the buy-out of Rangers. Not true.
The Club is accused of not paying £5million in VAT. Not true.
I can categorically assure supporters that when I launched a takeover bid for the Club it was funded entirely from one of my companies and that was demonstrated clearly to the satisfaction of the previous owner, Lloyds Banking Group and professional advisers.
What is true is that Rangers, like many other clubs, has a financing arrangement in place with a company called Ticketus which enables the Club to receive revenue from a portion of season ticket sales in advance.
There is nothing unusual or untoward in this arrangement which was put in place at the Club long before my takeover last year and was used by the previous management. For members of that regime to criticise the use of a scheme they put in place is, frankly, outrageous.
This is a perfectly straightforward way of raising working capital for the Club. Money from season ticket sales goes directly to the Club and is used for the Club’s operations and that remains the case. In effect, all this financing arrangement does is release the revenue to the Club earlier.
The Daily Record’s approach to this story sought to distort and dramatise the matter. I for one will not be reading or buying the Daily Record again and I’m sure many other Rangers fans will share my disgust at yet another smear on this football club.
It was, predictably, fuelled by accusations of former board members of the Club. I simply ask Rangers fans what these men did for Rangers in the Club’s hour of need? They were all talk and no action and presided over the Club as it careered to the brink of financial collapse.
The overarching issue that affects Rangers financially is the HMRC tax tribunal, which has been hanging over the Club for many years and long before I became chairman. As I have said many times before, the sooner that is resolved the better.
In terms of the playing squad, you may know the Club has agreed a fee with Everton for the transfer of Nikica Jelavic. We wish the player well and thank him for his contribution to Rangers.
The reality of Jelavic’s departure is two-fold. One, the player wanted to leave and there is no point in trying to keep a player who no longer wants to be at Ibrox. Two, the Club is simply not in a financial position to turn down offers for players which give the Club a good return on its original investment.
Investment in the playing squad has been a thorny issue since I took over the Club in May and is the source of endless debate, much of it ill-informed. I want to set the record straight.
In the summer transfer window last year we conducted 14 different pieces of transfer business, more than any other club in Scotland. This included new signings and improvement to existing contracts with key players, increasing the players’ wage bill significantly. We now have a first team squad of 30 which includes 18 full internationalists.
Admittedly, there were transfer targets we did not secure but that is not uncommon. As chairman, I have supported Ally McCoist in his choice of targets and will continue to do so. The timing of Jelavic’s departure so late in this window is far from ideal and efforts to improve the squad will continue until the transfer window closes.
That said, we must be realistic. Media coverage of the transfer window has bordered on the hysterical. As it stands at the moment Rangers has operating costs of approximately £45 million a year and revenues of around £35million – not including revenue from possible Champions’ League and Europa League participation.
As we know, European money cannot be taken for granted and it doesn’t take much to work out that without it there is a big financial hole to fill every year – regardless of who owns the Club.
I’ve said many times that in Scottish football we have to move on from this mindset that you have to keep spending more and more money – that’s what got this Club into financial trouble before. We have to live within our means, continue to develop talent and spend wisely.
These are challenging financial times for Rangers – as they are for many other businesses. What I can say to you as a Rangers fan is that everything I will do as chairman will be in the interests of the Club and I thank you for your continued support.
Craig Whyte, Chairman
Paul67 do you know if Neil is interested in young Templeton from Hertz?
I would agree with allowing them back into the s.p.l . on the condition that we get our wish and move out of this hell hole of a
country, and they are made to stay in it . That the s.f.a/ s.p.l remove any objection to us moving elsewhere. and that after the celtic board have a wee word with the uefa officials about what has allegedly gone on dallasgate . dougiegate . referee,s with eyes on the back of their heads . hastily convened kangaroo courts etc ! etc! that for fairness sake we must play our football outside these shores, the only stumbling block i can see is the celtic board saying anything .
hail hail
jimtim
If 500,000 is the fee Hearts would accept then we should buy Templeton. Not many players of his quality available for that kind of money.
Has Craig Whyte sued the DR yet?
His statement is comedy gold but will be lapped up by a delusional Rangers support
This in particular is a beauty
“Admittedly, there were transfer targets we did not secure but that is not uncommon. As chairman, I have supported Ally McCoist in his choice of targets and will continue to do so. The timing of Jelavic’s departure so late in this window is far from ideal and efforts to improve the squad will continue until the transfer window closes.
That said, we must be realistic. Media coverage of the transfer window has bordered on the hysterical. As it stands at the moment Rangers has operating costs of approximately £45 million a year and revenues of around £35million – not including revenue from possible Champions’ League and Europa League participation”.
Now that White has spoken twitter is suddenly full of deluded huns again, the think now that they are in for Holt and Templeton…
Gotta love their gutless stupidity..
Apologies – didn’t see it posted earlier
#eyestrainTuesday
Can anyone see Juarez playing for us again, especially with Kayal injured?
He looked like a superstar when he first came, but his form soon faded, to coincide with our worst period last season. I wonder if he could add something to an on-form side.
?
neveralone says:
31 January, 2012 at 14:44
Paul67 says:
31 January, 2012 at 14:04
ernie lynch, Bob Kelly had the backing of the other league clubs, including Rangers, who quickly made him SFA general secretary. This is why he won his point. He never threatened/offered to walk Celtic off a plank
Really Paul? Not quite true my friend. He didn’t have the backing of the other league clubs otherwise the order for Celtic to bring down The Flag would never have been issued. (NB I understand Rangers supported the Celtic position all the way through). It was the mans force of argument and the slow realisation of the impact the demise of Celtic would have which won the day.
It’s interesting how one thread is linked to another.
“…Rangers supported the Celtic position all the way through’)
“It was the mans force of argument and the slow realisation of the impact the demise of Celtic would have which won the day”.
I wonder (assuming these remarks are true) how much the support of Rangers was linked to “…the slow realisation of the impact the demise of Celtic would have which won the day”.
hen1rik@15:03
We don’t need Templeton imo
We have better talent in our Development squad
Did henrik Larsson end up at ‘boro then Portland after Celtic just like Boyd did? I remember he went to play for Barcelona and Manchester united, picking up major honours including a champions league medal.
You’ve got to laugh – those muppets had the cheek/stupidity to compare monster munch with the KOK.
From a Celtic point of view with it being the sky sports hyped up deadline day, i wouldn’t be bothered of we didn’t sign anyone else, I actually think we could do with selling a couple. I’m delighted with the brozek signing.
Are they having a few problems over in govan? Hadn’t noticed…
Aye right Craigo… I can just picture the wee shyster standing there waving that statement about in a Neville Chamberlain stylee…. “don’t worry, it’s all ok,Adolf is awright,calm doon the lot of yees”…….sheez..
Brozek being paraded for those who haven’t seen it already.
http://www.snspix.com/31_01_12_celtic_photocall/photo/74719.html
HH
/Bishop B
To all Rangers supporters,
I write to you today to address a number of key issues facing the Club.
First, I would like to address specifically the latest attempt to undermine Rangers in today’s Daily Record which devotes five pages to trashing our efforts to get this Club back on a sensible financial footing.
In the most lurid terms, the Record accuses the Club’s management and, specifically me, of using supporters’ money to help fund the buy-out of Rangers. Not true.
The Club is accused of not paying £5million in VAT. Not true.
I can categorically assure supporters that when I launched a takeover bid for the Club it was funded entirely from one of my companies and that was demonstrated clearly to the satisfaction of the previous owner, Lloyds Banking Group and professional advisers.
What is true is that Rangers, like many other clubs, has a financing arrangement in place with a company called Ticketus which enables the Club to receive revenue from a portion of season ticket sales in advance.
There is nothing unusual or untoward in this arrangement which was put in place at the Club long before my takeover last year and was used by the previous management. For members of that regime to criticise the use of a scheme they put in place is, frankly, outrageous.
This is a perfectly straightforward way of raising working capital for the Club. Money from season ticket sales goes directly to the Club and is used for the Club’s operations and that remains the case. In effect, all this financing arrangement does is release the revenue to the Club earlier.
The Daily Record’s approach to this story sought to distort and dramatise the matter. I for one will not be reading or buying the Daily Record again and I’m sure many other Rangers fans will share my disgust at yet another smear on this football club.
It was, predictably, fuelled by accusations of former board members of the Club. I simply ask Rangers fans what these men did for Rangers in the Club’s hour of need? They were all talk and no action and presided over the Club as it careered to the brink of financial collapse.
The overarching issue that affects Rangers financially is the HMRC tax tribunal, which has been hanging over the Club for many years and long before I became chairman. As I have said many times before, the sooner that is resolved the better.
In terms of the playing squad, you may know the Club has agreed a fee with Everton for the transfer of Nikica Jelavic. We wish the player well and thank him for his contribution to Rangers.
The reality of Jelavic’s departure is two-fold. One, the player wanted to leave and there is no point in trying to keep a player who no longer wants to be at Ibrox. Two, the Club is simply not in a financial position to turn down offers for players which give the Club a good return on its original investment.
Investment in the playing squad has been a thorny issue since I took over the Club in May and is the source of endless debate, much of it ill-informed. I want to set the record straight.
In the summer transfer window last year we conducted 14 different pieces of transfer business, more than any other club in Scotland. This included new signings and improvement to existing contracts with key players, increasing the players’ wage bill significantly. We now have a first team squad of 30 which includes 18 full internationalists.
Admittedly, there were transfer targets we did not secure but that is not uncommon. As chairman, I have supported Ally McCoist in his choice of targets and will continue to do so. The timing of Jelavic’s departure so late in this window is far from ideal and efforts to improve the squad will continue until the transfer window closes.
That said, we must be realistic. Media coverage of the transfer window has bordered on the hysterical. As it stands at the moment Rangers has operating costs of approximately £45 million a year and revenues of around £35million – not including revenue from possible Champions’ League and Europa League participation.
As we know, European money cannot be taken for granted and it doesn’t take much to work out that without it there is a big financial hole to fill every year – regardless of who owns the Club.
I’ve said many times that in Scottish football we have to move on from this mindset that you have to keep spending more and more money – that’s what got this Club into financial trouble before. We have to live within our means, continue to develop talent and spend wisely.
These are challenging financial times for Rangers – as they are for many other businesses. What I can say to you as a Rangers fan is that everything I will do as chairman will be in the interests of the Club and I thank you for your continued support.
Craig Whyte, Chairman
ernie lynch says:
31 January, 2012 at 14:27
“Parodying”…..that’s the word I was looking for….you’re bang on.
Cheers
B
Thats Juarez back lads, do you think we should’ve let Wilson goto Leeds on loan or do you think someone will make a bid for him.
4 right backs at celtic, surely we could’ve let him go on loan.
Can I ask a queshun?
Could we all stop referring to “the NewCo”, “the New Rangers”, etc.? I find the definite article lends an altogether false sense of certainty to the situation. I’d prefer, “A new club set up with some sort of reference to Rangers in the name but no other obvious connection”. Long winded I know, but more accurately captures the reality of the hypothetical situation.
Before you answer, can I ask a queshun?
Hi!
RogueLeader says:
31 January, 2012 at 12:22
Can I make a prediction?
About 3pm we will get a Rangers PR release..
a) Completely refutes the whole article
b) Daily Record Banned
c) Discussing with lawyers and any repeats of information will also be met with legal action
d) All done by people who are enemies of Rangers
===========================================================
Well I had the time and everything except the legal bluster correct. Perhaps even he knows nobody is buying his story of setting Lionel Hutz on people.
All so predictable…
Pawel picking up the ole #17 jersey, as worn by Didier the Great.
Craigy throws his toys oot the pram!
“The Daily Record’s approach to this story sought to distort and dramatise the matter. I for one will not be reading or buying the Daily Record again and I’m sure many other Rangers fans will share my disgust at yet another smear on this football club”
Methinks TMBB knows what is coming in tomorrows DR
Craig Whytes response could and should have been written by Spike Milligan. It is comedy gold
On an unrelated matter, I see Jordan McMillan is on the verge of leaving Rangers for Dunfermline.
So a squad which was already terminally small, has seen 4 leave and 1 arrive
thats what you call supporting your manager
makes willo flood window look positively industrious by comparison
assetmanager
I may be too cynical but….
perhaps rangers were happy & relieved that the cause of crowd trouble at Celtic v rangers games was decided to be the display of a Flag “which had no connection with the game or Scotland” rather than the openly sectarian policy used by the Govan club.
Parodying”…..that’s the word I was looking for….you’re bang on
-if ole Ernie was bang on he’d have said ‘parodynig’.
RaRaRasputin says:
31 January, 2012 at 15:10
“I can’t believe it’s not rangers”?
Templeton looked decent any time I’ve seen him, but we have so many midfielders, he is a wide player – cant see him bring picked before Forrest/commons/samaras. Plus I don’t think he plays too often does he? I might be wrong but isn’t he always injured?
Templeton of Hearts
Name one player in our current squad that he is better than, for the position he plays???? I can’t.
Don’t see the attraction.
RL@15:11
You nailed it. All so predictable
There is now huge pressure on him to bring in 1 or 2 players before the window closes otherwise the gullible bears will be revolting
7hr 45mins to go Craigy bhoy
His assertion regarding no £5m VAT is interesting unless he is again playing on words that HMRC is just investigating and hasn’t presented a demand as yet. Paul Murray has went on record saying otherwise…..over to you Craigy boy, if it isn’t true release the lawyers.
up_over_goal
Whyte’s statement
you beat me to it