When Dave King & Paul Murray
won control of Rangers’ boardroom, one of the most prevalent points made was
King’s assertion that £20M-£25M was needed regarding investment into the Club,
and the chairman claimed he would inject around £10M of that himself, and
expected the rest of the board to cough up the remainder.
won control of Rangers’ boardroom, one of the most prevalent points made was
King’s assertion that £20M-£25M was needed regarding investment into the Club,
and the chairman claimed he would inject around £10M of that himself, and
expected the rest of the board to cough up the remainder.
Unfortunately, over three months
on, the only cash Rangers have received from anyone has been King’s £1.5M
non-secured loan, and the Three Bears’ identical amount, also borrowed.
on, the only cash Rangers have received from anyone has been King’s £1.5M
non-secured loan, and the Three Bears’ identical amount, also borrowed.
All loans. Not investment, but,
effectively, further debt on top of the £5M owed to Sports Direct.
effectively, further debt on top of the £5M owed to Sports Direct.
All in all, Rangers are now £8M
in debt to its own shareholders and board.
in debt to its own shareholders and board.
With well over 12 weeks passed
since King’s brand spanking new era promising wealth and enrichment, as well as
progress, the absolute truth is Rangers have stood completely still.
since King’s brand spanking new era promising wealth and enrichment, as well as
progress, the absolute truth is Rangers have stood completely still.
First some fans cut the board
slack by hitting out with ‘they only just
got their feet in the door, give them time’, then as that one started to
wear thin the line used was ‘they’re
waiting to see what division we’ll be in’, then as that one started to lose
credibility it has become ‘they’re
waiting to see what manager they appoint’.
slack by hitting out with ‘they only just
got their feet in the door, give them time’, then as that one started to
wear thin the line used was ‘they’re
waiting to see what division we’ll be in’, then as that one started to lose
credibility it has become ‘they’re
waiting to see what manager they appoint’.
And when a manager is appointed the next line to excuse
the lack of investment will probably be another tired cliché to excuse an
astounding absence of action.
the lack of investment will probably be another tired cliché to excuse an
astounding absence of action.
The fact is King and his cohorts
have promised the Earth to Rangers fans and have delivered absolutely nothing
beyond symbolism. As much as they have got some
things right (Greig honorary president, releasing eleven pieces of dead
wood) the amount of woeful mistakes so far is testing even the most ardent
supporter of the board’s patience. And the lack of investment even worse.
have promised the Earth to Rangers fans and have delivered absolutely nothing
beyond symbolism. As much as they have got some
things right (Greig honorary president, releasing eleven pieces of dead
wood) the amount of woeful mistakes so far is testing even the most ardent
supporter of the board’s patience. And the lack of investment even worse.
Loans do not qualify as investment, and the board’s decision to oppose the
motion of the upcoming EGM is bewildering – quite simply because £5M to get the
majority of Ashley’s clauses off Rangers’ backs really does not seem like a big
price to pay. An official statement even claims that getting the full 100% back
of Rangers Retail is apparently not in the Club’s best interests.
motion of the upcoming EGM is bewildering – quite simply because £5M to get the
majority of Ashley’s clauses off Rangers’ backs really does not seem like a big
price to pay. An official statement even claims that getting the full 100% back
of Rangers Retail is apparently not in the Club’s best interests.
Words fail me.
And the continuing lack of action
with regards to rebuilding is severely grating. Still no sign of a manager, no
obvious sign of a plan beyond a few tired old pieces of rhetoric from Paul
Murray about how broken the Club is. We already know it Paul me ‘ol chum, no
need to keep on repeating it.
with regards to rebuilding is severely grating. Still no sign of a manager, no
obvious sign of a plan beyond a few tired old pieces of rhetoric from Paul
Murray about how broken the Club is. We already know it Paul me ‘ol chum, no
need to keep on repeating it.
At no point has the chairman
concisely detailed what he plans to do – all of his comments about the future
have been vague comments about how he needs the fans’ backing, how he needs us
to invest (thought it was yourself and the board who were initially stumping up, Dave?) and believe in the board, and intends to relist but no ETA on it and
no tangible plan about how he intends to build supporter faith in what he is
doing.
concisely detailed what he plans to do – all of his comments about the future
have been vague comments about how he needs the fans’ backing, how he needs us
to invest (thought it was yourself and the board who were initially stumping up, Dave?) and believe in the board, and intends to relist but no ETA on it and
no tangible plan about how he intends to build supporter faith in what he is
doing.
And critically no investment. Not
a penny from anyone. It is all loans loans loans to keep the Club afloat.
a penny from anyone. It is all loans loans loans to keep the Club afloat.
King has advocated himself as the
answer to Rangers’ problems – not overnight, but certainly after three months
we thought we would see something to vindicate the overwhelming victory he
managed in March. We simply have not.
answer to Rangers’ problems – not overnight, but certainly after three months
we thought we would see something to vindicate the overwhelming victory he
managed in March. We simply have not.
And before anyone complains that
I hate the board, I actually do not. If I see a shiny new manager appointed,
players coming in and fees being paid for them; with a tangible root of
investment growing underneath it, I will be as happy as the next Bear.
I hate the board, I actually do not. If I see a shiny new manager appointed,
players coming in and fees being paid for them; with a tangible root of
investment growing underneath it, I will be as happy as the next Bear.
But right now it is all a lot of
hot air and there is nothing beneath the hood.
hot air and there is nothing beneath the hood.
Please be patient, I hope like all Bears promises made come good as least we don't have to listen to horror stories each day like it was under the previous money asset grabbing parasites.
So long as you are not expecting any investment from paul Murray! Short arms and deep pockets, he has his club tie and blazer so he will do what King tells him, just as he has done in teh past with his namesake! A lot will come to light with the appointment of teh new manager which if King is serious, has to be either Cathro or Warburton, (or both)! Anything else is more of the same with the jobs for the boys malarky! Then we will see what calibre of player is brought in and whether they truly are potential world class players of the future or just mediocre also rans like we have seen in the past three years.
i have been saying that for a few weeks now. been getting twitchy as now they say get out buy season tickets this will help investment in the team! yes but where is yours? no talk of that! frustrating………
remember what happend when the three bears woke up
remember what happend when the three bears woke up
remember what happend when the three bears woke up
So good he said it thrice…
yes, they had pissed the bed,, 3 times.
Used to enjoy reading the posts made on this site, but recently it's become apparent that you specialise in spitting the dummy out. Rome wasn't built in a day. And certainly not in three months either.
You are on the wrong site matey, we have nothing to do with Rome. Govan shouldn't be too bad once its finished though can't say the same for Ibrox.
Crap, the site is good, comments honest and thought provoking, on this thread 100% correct, Mr K is now looking as bad as previous recent regimes, I exclude Ashley, he did not promise the earth, but did stump up money and players through his network, where is yours Mr King, all talk , no action, apart for asking us fans to stump up to watch second tier Scottish football, can't wait J
Fair points well made.
It would surely be both beneficial and a show of their true belief in the club if the current board kept their word and Invested (not loaned) real venture capital in the club before the season ticket money is in and counted. The fans have been caught out like this before.
I'm always willing to read your comments IN… But I really do think you're glossing over the real issues here.
You failed to post anything yet on the abhorrent behaviour of Mr Ashley yesterday and in doing that you have shown a disregard for the bigger picture. Its quite obvious to me that King would have no business being involved in Rangers, as a Rangers fan, unless he and the other board members were here to see us become a force again.. Ashley on the other hand, its quite obvious the man is only in it for the money. Above and beyond his grasp at Rangers his shameless behaviour and gluttonous greed are there for all to see with respect to his other business interests.
With respect to King et al. You can add all the hyperbole you want, but anyone that thinks this is a quick process, ie pump in 30mill and fix everything overnight, is living in another world. The simple fact of the matter is that kings 3 year plan is more about repairing everything in the background than putting a premiership winning team together. I honestly believe the addition of a premiership winning team is the least of our concerns.. If he choses to play it slowly and drip-feed money in, so bloody well be it. It may well be that we need to appeal to a court judge soon that the clubs books are so poor because of the SD contract… So adding millions to the coffers wouldn't help that argument much…
King is assuring every fan that their season ticket money will go into the footballing side. That's one thing he has stated.. I take that as meaning that he will stump up money for all this other shit with Ashley in the meantime (paying his court fees to drag us up over his repulsive behaviour).. You must understand that King cant come out and tell you exactly how it is right now… Surely?!
Fans will be appeased in a weeks time with a new manager and the beginnings of a new squad.. Then will come some infrastructure and some stability to the club with it.. But I think its pretty churlish to sit there and imagine that these guys aren't working tirelessly in the background to ensure that SD contracts are renegotiated.. That has to be the priority beyond the playing staff issues this week.. And it should be understood that pumping money in isn't the end of our problems right now.
Well said. You saved me the trouble! We now have in place, a board capable of rebuilding our beloved club, a process which should have begun long ago. Finally, the future looks bright. WATP
You're an absolute Jose Quitongo.
When Dave King asked the fans to buy season tickets, he was speaking in the context of 'where we are now' (that was the whole topic of the interview) i.e. that we're facing another year in the Championship. With decreased revenues coming into the club, as opposed to what had been expected should we have been promoted, King was merely stating that everyone – including the fans – would have to dig that little bit deeper in order to ensure we have the best product on the pitch next year. I don't see what's difficult to understand about that, or why it has stimulated the outrage that it has. We're talking here as if Dave King has just rolled into town in the last few months, when in fact he has been investing in Rangers for decades (I say "investing", but the word is really "donating"). But his Murray-era investment/donation of 20 million pounds is still not enough to buy the loyal support (or even patience beyond a few months) of the fans. If any one of us were Dave King, I think we'd have the right to feel disappointed with that. I for one trust that he, Paul Murray and John Gilligan are the best men to have in charge of running the club. And when they took over, the one thing I heard them repeat often enough was the need for the fans to show patience. Given how much there is to fix at Ibrox, I'd say that that patience should be expected to extend well beyond three months.
Rubbish, King is back for one thing, to recoup lost money (£20M), watch and learn how he does it. J
I have been asking this question on this very site for weeks now, it's all buts and because's. This guys is a fake.
Evidence:
I lost £20m when David Murray asked me to invest, changed to a substantial amount when a journalist reported that Mr King received £18m of this back within weeks from Rangers accounts
I will renegotiate the deals with Ashley. Ashley yesterday won a court case against Rangers for leaking information about confidential deals and was awarded costs which cost the club £20,000 plus their own lawyers bill.
My dad took me to my first game when I was six years old, completely contradicting his own story from a few months ago that said his father was a police officer who had no interest in football what so ever, in fact he was anti football. (his words not mine)
He was called a glib and shameless liar by the South African courts
He has promised us the earth and we have seen nothing but dust.
This is all about season book sales, this is only way we are getting any investment, it will come from supporters not fake billionaires. I view is that I will not renew until I know what I am buying, but I fully appreciate that others will renew regardless, I wish I had your tolerance.
God only knows what Mr Ashley has up his sleeve for Mr King today, but I have an awful feeling that he is in for a right f####g doing!!!
Back to Kerrrrrryyyydale you go you tit ;-|
WE AS SUPPORTERS NEED TO SHOW OUR COMMITMENT AS WELL AS THE BOARD RANGERS IS NOT A CHARITY IF YOU WANT TO WATCH OUR TEAM BUY A SEASON TICKET IM CONFIDENT THE INVESTMENT WILL COME WATP
The recent loans will be converted to shares and there is no point in paying back Ashley without addressing the other deals,anyone who can`t see that if the deals were normal then we would not have needed the loans in the first place just does not want to see that,I for one have full confidence in the present board,£70M went out the door in 18 months in the previous lots time when the squad wage bill for that period would have been circa £10M,less than four months ago that lot were still in charge so I will not apologize for allowing the present board a bit more time
in king our trust, we will see the start of the new rangers after our meeting today and as we all know we are on a long road to rebuild our club, i hope all true rangers fans will get behind the club to help get us back to the top, watp.
Player investment is obviously needed and significant levels of cash is required. However, the most vital appointments and the most imminent are that if the manager and back room team.
Warburton, Weir & Cathro are my dream team.
Over to you Mr King, get them in and part me and 40,000 bears with the season ticket money burning a hole in my pocket.
Well done, perspicaciously acidulated old bean. Just to pint out three little rinky dinkies though my fruity pie. Ashley is going to apply to get the courts to get his £5M ring fenced, then he's going to raise a class action suit to sue King for wiping out the value of everyone's shares, and when you go belly up (which I know you personally will love spunky), he will grab MP EH, and the ACP. A right good caning just like at Greyfriers, now you can't say fairer than that can you? Mark Guidi take note.
Written by a cockney.. for a cockney… Fruity Pie?!! Away fuck off back to surrey Fatley!
Not a cockney dear nonnynonibbles old chap. Greyfriers is upper class not like you scruff and your wellies are making those sucking noises so you are well out of place using that kind of language to me old paddywax.
Never in the field of human conversation has pish been slevered so much…by so few….
My dear pauper – you cannot possibly earn any decent money – if you really slaver urine you should look for a good oral cleanser. In your case I would recommend you research cloaca maxima, I am sure that would bring about a great improvemenzt and that no one in the Louden would ever again even notice you were any different from any of them. But don't come anywhere near White's.
You should change your name to Wharton de Cock. You come on here trying to look clever and funny but you are always taking second prizes. Go boil your head and make daft soup ya cunt!
well said lolll,
cheers bro. We Are The People!
i do not always agree with you but i do with that. the problem is dave king is another charles green and craig whyte but with better rangers credentials. when fergus mccann took over celtic he immediately paid off the bank and other debt they had. he put £8m of his own money and said this is my money i need yours now and it worked. he also was open and upfront by saying i am going to these things and in 5 years i will walk away selling my shares and making a damn good profit. he was open and honest unlike our owners have been since the 80's but especially since mid 2000's. he did not speak the hyperbole and did not react to fans demands he spend this and spend that because he knew the club could not afford it. he was not popular with the tims for a long time but they have come to agree it was the best way forward. i do not admire the man or his club but i admire the way he went about it. it is what we need not a glib and shameless liar telling us we will be back were we belong if we give him our money. please wake up and smell the manure
What Debt has Dave King to pay off..???! We have an interest free loan, and getting 25% more of Rangers Retail the now is 25% of fuck all… I can assume then that if you had an interest free loan with those terms you'd pay it off before required? Ask yourself, why does Ashley want to hand us 25% of RRL back and take his money out?? Because the 5million is worth more!
Quoting Fergus McCann paying off Celtics debts is nonsense – you're comparing apples with oranges there mate – they were hours from receivership because the bank wanted their money back and were entitled to it… He had to pay it off to keep them as a going concern… Comparing that to our situation with Fatley is just plain stupid..
So I understand a lot of people on this forum now……. We are now calling buying a season ticket an investment???! GET REAL! get in the stadium and support your team… when there's a f*cking share issue, you will be quite right to get critical if King and others aren't putting money in…
IN KING OUR TRUST,,
if we pay ashley his £5m it means so much more than getting 26% of retail back. it means we are seen to pay our debts. banks will not lend to us and who would blame them when king says yes we borrowed the money but we are not paying it back. it is a trust thing. also it is not just the 26% it is return of the assets that we can borrow against. pay our debts(to ashley) is so much more that the retail %. ashley will not re-negotiate the deal . would you?
Who said we want a loan from banks anyway??? I for one don't want us with any debt with banks.
Why does the Board propose not to pay the £5m ? ….because there is no money to pay it!….why is there no manager? ….. because there is no money ….why is there no business plan ….why does King keep asking fans to pay up for ST'S. ..why did 12 players leave…why are there no new players? … remember mccoist is still employed as the manager…why? Because there is no money to pay him off. Why does ashley want his £5m? Same answer however this gives him power ..enough power to become the largest shareholder. For Green and Whyte? see Ashley and King ! Stitched up again simply because of naivety and desperation. These are plain old fashioned ruthless businessmen. Do you really think they give a monkeys about Rangers? If you do then put your ST money in…simples
The club isn't standing stilt? it's gone backwards, no manager, no team, worse off than this time last year and dragged through the courts already and paying all costs, season ticket prices increased.
We were told transparency was uppermost, did they forget to inform share holders and fans about yesterdays high court action?
Another well written piece Sir !, Do we honestly believe in our heart of hearts that Dave King has money and if so is willing to spend on our club ? so far all empty promises, what about " immediate investment" as he quoted months ago, we are still waiting, I can guarantee you the board will turn to us AGAIN to put our hands in our pockets, whether this is through season ticket sales, new share issue etc…. watch and you will see.
One cost-cutting measure I'd love to see implemented immediately at Ibrox would be the sacking of James Traynor (I'm presuming he's back in at Ibrox on a permanent basis). When he interviews King, Murray et al, he does so in the manner of a newspaper reporter rather than that of a Rangers FC employee. It's bizarre to see a club's PR man interview his colleagues in a confrontational, belligerent style….a style that, I believe, is serving as a breeding ground for uncertainty, suspicion and paranoia among fans. The point of a communications department is to give a positive impression of a company towards its customers, not to engender customer hostility towards the company. I quite often check out interviews with Ronald Koeman on the Southampton FC Youtube page (the PR team at that club are superb, in my opinion) and the tone of questioning between Southampton's PR man and Koeman is very different indeed – interviews are always relaxed, familial and positive – as they should be, since both men belong to the same football club. James Traynor, the muck-raking extraordinaire, has got to go.
I'm sick of Ashley Being painted as the Big Bad Wolf, Our old board come back to our club ousting a Billionaire who wanted to take us into Europe and has the financial clout to do so.
Cue, King And Murray!!! Ashley wants his money back, and our boards first decision is to ask fans to vote against paying our Debt!!!
Ashley is playing this card cause he's testing Kings clout, and from what I see, King has none. He's a crook, and a proven one at that, so until I see different, I'm not spending a penny!!!!
Stephen Wilson supports Rangers, so he does. Yous should all listen to whit he has tae say, so yous should. Hahaha!
Spot on, King is close to the worst thing that will happen to Rangers after Whyte, he is going to sucker a lot of fans by taking money, not his mind as he is only here to get repayment of what he lost, that is all. *J
How can anyone trust glib and shameless?
Same way a certain Irish tax exile can be trusted after he paid for repairs to the Irish Prime Ministers yacht in return for…..ach, you know the rest 🙂
He also paid his fare up to Marble Arch a few times, so he does pay his way unlike hobblers, squinters and gargoyle mad staring dwarves I could mention. All passing over you head spunky? Prove you understand with a crafted insightful response you depraved backward reptile
When Craig Whyte walked in the door everyone was declaring him the Messia and when he failed to deliver everyone (initially) attacked the BBC and anyone else who questioned Whyte and his ability to fund the club. Now the same thing is happening again with people defending King as he asks fans to "Invest" with season ticket purchases, the same as the previous board asked of fans. This time last year Dave King said people should hold back to see what investment is being put into the club and what players are being brought to the club yet now he is asking the same of fans as the previous board. Fans need to see the calibre of players being brought in to the club before shelling out hard earned money to people who are void of the transparancy they accussed other of. Until fans see the new manager and the players then there is no point in buying season tickets. Who in their right mind would spend hard earned money on watching what would be a second team in any other year being paraded as "Investing in youth" ? King promised £30million and he should stump up the money before fans stump up for Season Tickets !!!
Seems to me that the overall majority think the same, we are being taken for mugs by Mr King, all words, no action, the man continues to baffle the support with false promises and accusations that are so wide of the mark, you wonder why he is back other than what I will keep stating, he is back to recoup his lost millions, not to turn Rangers around, alternatively, he could start putting the money in first, forget the loans, they are minute in comparison to what we now need, Mr King realises this and is looking to back out or at least save face while not investing, watch and learn what he does and does not do J
The loans from King and the 3 Bears are to be converted to shares so are investment. Please explain how, in the lack of a share issue, anyone can make any investment?
I take it by not spending a penny you are taking the piss. Go back to your unwashed friends, this is a Rangers site.
no surrender and watp,,
I see the tarriers who are obsessed with the Mighty Rangers are alive & well….
HaHa….
in king our trust watp,,,,
In king we trust!! Watp
The time to judge the board is next May. By then I expect to see promotion, a world wide scouting network in place or in the process of being implemented,
I would also expect a resolution of the Ashley saga as until this is dealt with, the club will continue to lose a lucrative income stream.
In my opinion, I think these expectations are reasonable. It goes without saying that during this time, youth coaching should be of a high standard with players being plucked into the 1st team on a regular basis.
For me, this should be achievable. Anything less and I'd be disappointed.
Nice to read an intelligent comment. Agree with you completely.
The pro King movement is alive and well and full of misguided hope if you believe he will come good, we have missed the boat and success by ditching Ashley for King, just watch, wait a year if you want but you will still be waiting, this is no difference to Whyte or Green, just worse. J
Craig Whyte, David Murray, Dave King and Paul Murray,,,,have all planned this for years,,,, Craig Whyte took the responsibility of taking 9 million of tax money, then claim administration,,, King and Murray jumped ship so that they didnt get the flack from the fans,,,and when the time was right,,,King and Murray manipulated the fans and got back into power,,,, King then said we have no debt and in a good position,,,,,, Just as Craig Whyte promised as the Ibrox doorstep when announcing administration,,,, this is fact folks,,, and most of you are all too stupid to see it,,,,!!!
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