I have huge respect and affection for the BBC. We are lucky to have an organisation of its calibre providing information and entertainment to us here in the UK.
However it is interesting to see the pace at which it moves, and the journalistic use of the word “revealed”.
Tonight, for example, in this piece Chris McLaughlin, BBC Scotland’s Senior Football Reporter, declares, under the headline ”Rangers: Ibrox club’s largest shareholder revealed” :-
“BBC Scotland can reveal that a Dubai-based businessman is currently the single largest shareholder in Rangers.
Arif Naqvi, chief executive of private equity firm Abraaj Capital, owns just under 18% after agreeing to invest £2m back in June.
Naqvi is the man behind Blue Pitch Holdings, but BBC Scotland understands that he has a personal holding in the club….
Other investors include Imran Ahmad … from Zeus Capital, who owns 9.8% ….”
Today is the 24th August.
The heading was “Who Are the Mysterious Sevco/Rangers Investors – Some Answers – Guest Post by Ecojon”. The article read, in part:-
“Arif Masood Naqvi is one of the 50 most influential people in the global private equity industry who holds Pakistan’s highest civilian honour.
Both he and his wife attended the London School of Economics and graduated in 1982 with Fayeeza joining a London-based global bank. She is renowned internationally as a collector and patron of Middle Eastern art and a tireless voluntary worker for underprivileged women and children in India and Asia.
Mr Naqvi is the founder and CEO of the Dubai-based investment bank Abraaj Capital – the leading private equity firm in the Middle East, Northern Africa and South Asia with US$ 1.5 billion of paid-up capital which since inception in 2002 has raised approximately US$ 7 billion with about US$ 3 billion distributed to investors.”
It went on to say:-
“The Manchester-based Zeus Capital states on its website that: ‘Zeus Capital and its associates are also investors’ in the new Rangers although the amount invested isn’t revealed and no associates are identified. However the firm, which offers investment advice, now has its Managing Director Imran Ahmad sitting on the Rangers board with Brian Stockbridge, another Zeus director, serving as Rangers chief financial officer specifically tasked with raising capital.’
The only credit I can claim is that Ecojon, and other very wise folk like him, are kind enough to post on this site. I am privileged that they feel happy to do so, and I hope what they all contribute helps make up for my “legalistic nit-picking” as one commenter accused me of.
Maybe the lesson is that, if you want scoops regarding the doings at and surrounding Ibrox, look out for the Internet Bampots, and not the mainstream media!
Posted by Paul “Gumshoe” McConville