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When the wealthy borrow from the poor

1829

Sell fans a ticket, you owe them a game of football.  Whether the standard or result it good or bad, it’s a relatively easy commitment to keep.  That’s what fans get in return for spending money on a ticket.

Sell people shares, you owe them a share certificate.  That’s what shareholders get in return for coughing up for shares.

Borrow money from fans and you owe them much more than a game of football or a share certificate.  In many instances that money will have come from people who had to forgo things to provide you with the loan.  You owe them a duty of care that their loan will be repaid, or converted with their agreement.

It beggars belief that an unsecured loan has been offered to Rangers International by fans group, Rangers First.  If, as claimed, the obligations to Sports Direct have been met, the club will have both the ability and the incentive to pass the securities previously held by Sports Direct to the fans group.  The club’s IP, training ground and ancillary assets should now be unencumbered, who better to have security over these critical parts of the club than a fans group?

Unless, of course, the obligations to Sports Direct have not been met.  Or someone else has their eye on the assets.

The claim that Dave King would match Rangers First’s loan took me by surprise.  This was counter to everything I knew and expected of him.  His swift denial was more consistent with expectations.

There is an axiom in football: Any club who has enriched a PR individual to the tune of £500k in the last year is making a serious attempt to divert it’s fans attention.  Celtic’s PR machine deals with the efficient communication of football information and financial reports.  Nothing whatsoever is spend attempting to lead the news agenda.  This often leaves us on the receiving end of that agenda, but we have nothing to hide.  Which is the way it should be.

Few sights in business or football can be more alarming than when purportedly wealthy people borrow money from poorer people.  The warning signs are writ as tall as the Ibrox stands.  This time there is no hidden Ticketus deal people can claim they didn’t know about.

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1,829 Comments

  1. DD

     

     

    Freezing like “f” outside, but the ole cole fire has the hoose biling. Lol. Hope yer well “G”. See ya at the next home game. HH

  2. BT, I believe Dancing Brave was that horse, it did win the Prix de l’Arc de Triomphe though.

     

    I won a tidy sum on that.

  3. The bear is with Mclair, with McStay catching up

     

    I thought Provan ?

     

    Weefra, a real fire, remember one of them from about 35 year ago – brilliant :-))

  4. blantyretim is praying for the Knox family on

    JNP

     

    Thanks for that, I remember a mate at work had his tank on dancing brave to win the Derby, 1st Tuesday of the month and we where paid last day of the month in those days, unless we we where still on giros because of payroll strike :))

  5. Weefra…

     

     

    I ran over a fox on the way to work after dropping my daughter off today, I didn’t fancy taking a chance to miss it with the ice.

     

     

    I felt bad and didn’t tell my daughter as she would have been upset.

     

     

    Thought of yourself and thought feck it… That bassa would eat your chickens with half a chance. :) HH

  6. blantyretim is praying for the Knox family on

    Weefra

     

    Did you notice Accies game moved to Tuesday 19th at 7.45

     

     

    I’ll check to see if Larkie bus going that evening

  7. Gerryfaethebrig on

    Jimmynotpaul

     

     

    As I said cracking memories of good times, Love St I wasnt at the game, at 16 but our community centre opened that day so we had the five a side hall to ourselves, although it was more like 11 v 11 none of this organised rubbish, if you got a touch of the ball you had to make the best of it…..

     

     

    On the topic about songs that you used to hear in the late 80s / early 90s I used to enjoy a wee rendition of the “Broad Black Brimmer” up at Pittodrie….

  8. Delaneys Dunky on

    Weefra

     

     

    When we moved fae a coal fire in Partick to gas central heating in Knightswood, a part of me died. Learnt that rubbish went in an outside bin and not up a lum, for the first time aged 8.

     

    See you Saints match Fra.

  9. Blantyretim.

     

    The day after Greville Starkey mucked up The Sporting life, which was the main racing paper of the day, went with the headline Crime Of The Century. Greville was the main jockey for the trainer Guy Harwood. Khalid Abdullah was the owner of Dancing Brave and made sure Greville never rode the horse again. Poor Greville’s career went downhill after that.

     

    Right that’s me almost out of juice. Night all, be nice to each other.

  10. blantyretim is praying for the Knox family on

    DD

     

    We don’t need coal fires for heating in the shire now

     

    We use the chimenea don’t you know ☘☘. ;-))

  11. Delaneys Dunky on

    Sipsini

     

     

    I hand feed the Clydebank Reynards. Foxes are my favourite creatures. You must be devaststated at that accident.

     

    The Urban Foxes are wising up and taking over.

     

    Nae rats or mice here. :)

  12. BLANTYRETIM @ 10:17 PM,

     

     

    “Agree,McClair did the dirty on Celtic that season”

     

     

    Bit out of order BT…

     

     

    Comparing Brain to Maurice Johnstone.

     

     

    No comparison!

     

     

    BTW RC Doing a great job as usual but…

     

     

    Just did what you mean by “2 Bhoys and the unmentionable…“?

     

     

    Hail Hail