Why the Rangers Share Issue in ’12 Helps RFC Buy Players … in ’14?!

Continuing the series of posts looking at the Rangers PR spin helping Mr Green sell his shares, we come to the next one – where Mr McCoist tells the fans how helpful the share issue in 2012 will be for buying players in 2014…

You know it makes sense!

My comments are in bold.


ALLY McCOIST says one of the key factors for fans to consider about Rangers’ intention to join AIM is that investment in shares will allow for long-term squad strengthening. The manager had just 42 days this summer in which to piece together a squad for the Third Division campaign before a year-long transfer registration embargo kicked in.

That left Gers having to go with the pool the currently have for this term, a combination of experienced SPL performers and emerging young talents. After seeing big names such as Steven Davis, Steven Naismith, Allan McGregor and Sone Aluko leave Ibrox in the close season, the group clearly isn’t as strong as it used to be.

What a poor man. Imagine having only 42 days to put together a squad to win SFL3, with nothing other than “ a combination of experienced SPL performers and emerging young talents”. Agreed the squad is not as strong as it was – it does not need to be surely? (Don’t call me Shirley).

Bearing in mind the stated ambitions to chop the salary bill, how did Mr McCoist imagine he could keep his team together?

And, in any event I suspect that the money spent by Rangers on new players (in fees, signing on costs etc) for this season exceeded everyone in the SFL put together, and probably most of the SPL too.

And finally, the embargo is a penalty for various offences, including the non-payment of tax, which allowed Rangers to make it to the end of the season, and without having to dispense with lots of the players during the season.

No recognition however of the fact that the embargo is a consequence of the actions of the former ownership, and the manager remains in situ.

But in the long term McCoist has a vision that will see Gers become the powerful force in Scottish football again – and that requires significant funding over a considerable period.

As I have said in these posts, nothing wrong with aiming high. The aim of becoming THE powerful force in Scotland…one suspects Mr McCoist might not be around to achieve it. The goal of reaching the top “requires significant funding over a considerable period”. On what? Buying players? Is that not part of the slippery slope which led the Ibrox team to where it is now?

The hope is that being listed on the London Stock Exchange once again will allow Rangers to generate up to £20 million in additional finance for the club. Some of that will be earmarked for player recruitment and McCoist said: “The money will help in the sense we can make improvements to the stadium and bring in new players.

Why now, if the purpose is to raise cash for buying players? Surely, if the team progresses as Mr Green feels, and also as the money is not actually essential, it would be better to wait for results to be showing, and, with the proof apparent, the price would be higher, and greater sums raised?

“That’s a big thing because we don’t want to hang about. We want to get back to where we feel we belong.

We don’t want to hang about” – but when it comes to players there is not a choice, is there?

“There has to be realism about where we are and what has happened to the club but we do have a squad which we feel can get us out of the division.

We’re not the same team we were a year ago. We’ve lost 28 or 29 players and we’ve got a completely new staff.

Not a completely new staff surely? And after all, Mr McCoist did manage to bring in a number of players, either ex-SPL or from abroad. If it was not good enough to win the SFL3, then why bother?

“We’ve got some good SPL players in with some younger kids and in SFL3, the immediate target is to get promotion. We should hopefully do that – it will be hard work and we know that because we’ve never said for a minute it would be easy. We believe we can get out of the division but we’ll have to earn that right and once we do, we want to kick on.

“Our longer-term plan is to reinvest in the club in terms of personnel and new players so that we can return to top flight football in Scotland and European football.”

Do you think the new mantra to be chanted is about Scottish and European football?

McCoist grew up supporting Rangers and has been with the club in many capacities, firstly as a player then a coach and currently as manager.

In his role as a shareholder in the club’s new company, he has a desire for the proposed floatation to work – and believes that will motivate potential investors too. McCoist added: “I want this scheme to be successful. It has to be said that success on the park will result in success for the club’s investors.

“That is very important because we have to have success on both fronts. They feed off each other. I know the money that comes in will be reinvested in the club and fingers crossed the club can do well to make for good investment.”

Note the phrase “ the club’s new company”? Almost as if Rangers FC owns the company, rather than the other way round. Any confusion is accidental, I am sure.

The piece confirms Mr McCoist is a shareholder. That means that talking up the share value potentially is of financial benefit to him, but I would not suggest that is his motivation.

He is right though to say that success on the field will result in success for investors.

However, success for investors involves them (a) taking cash out in the form of dividends or (b) selling the shares for profit. Neither of those options benefits the club in any way.

Posted by Paul McConville



Filed under Charles Green, Rangers

111 responses to “Why the Rangers Share Issue in ’12 Helps RFC Buy Players … in ’14?!

  1. James

    I’m staggered you muppets do not have anything better to do. Rangers has £100m of property assets (revalued down to £40m by Deloittes as the club is now playing in div 3) and is a UK brand which has the largest following in Scotland and by Scottish ex pats world wide. its drawing bigger crowds than most of the clubs in the UK let alone Celtic. All the cash went into newco RFC by way of equity and all the investors knew that div 3 was a distinct possibility. The £20m is already covered by institutions and a furthermore Rangers season ticket holders have already pledged a further £9m. I’ve watched with great interest Ecojon and Paul run up their X files on Rangers and quite frankly its ill informed clap trap fantasy land drivel.

    It amazes me that no-one on here that understands risk finance or equity finance and then have the audacity to offer jaundiced opinions.

    Arif Naqvi would be more than happy to write out a cheque for £20m to underwrite this IPO but the management want a broad set of institutional investors blended with a decent chunk of fan ownership.

    Rather than type complete obsessed bullshit on here get out there and try doing something entrepreneurial yourselves. Fecking two bit peasant potato eating key board warriors

    • james for a zombie lover of all things green, you omit to say how much you are going to actually invest in chuckies: sevco. whilst that might be forgiven, your snide comment about’two bit peasant potato eating warriors’ is not. it suggests to me that racists like you are not just found in the lower end of society………my bet is your a social worker .

  2. mick

    sallys a joke anything he says 99% crap its buy or die it was running at a lose before admin and its running at a lose now the share sale will see them break even until green gos then its all going to burst ,ticketus and whyte had green in place before admin its comedy gold from a celtic point of view ,div3 income spl set up and wages no 1 is going to invest coperate cash in iy its as toxic as acid weres the deeds charlie lol how got the 20million shares its a con and pure pop corn and cola time for spl fans that like a laugh there the joke of soccer and will never win a major for decades there ozymandias vineto done and dusted on the canvass skelped all over scotland

  3. mick

    long-term squad strengthening. sally said pmsl

  4. mick

    Green had lunch with Whyte in the Savoy Hotel when he was in London.so hurry and buy your shares as we all want whyte to get a good earner out yous lol

  5. ecojon

    An often forgotten consequence from the wave of British clubs which floated in various stock exchanges was initially unforseen as far as I know.

    The big lure of the flotation was to put some cash back in the pockets of the forever-giving Boards and Chairs and generate cash to increase stadium capacity and to buy and pay better (well at least more expensive) players.

    But it also opened-wide the doors sheikhs and oligarchs to buy into clubs and actually depose local control and ownership to purchase a fascinating toy that even a very rich man would be happy to play with.

    It used to be newspapers they collected but for the moment it is still football clubs – who knows what it will be in future. Only one thing is certain and that is the ultra-rich have a tendency to get bored fairly easily and they will move on.

  6. It just keeps on unravelling, doesn’t it? Gifts within gifts… keep them coming Paul.

    In all of this, the business side of the FOOTBALL TEAM (remember that?) actually seems to be of little importance – or at least there seems to be very little said of a business strategy for the club that involves showing how good management of any investment can bring financial benefits on the football side.

    All we keep getting is the repeated mantra of being able to invest in better players once the embargo is lifted. Not even just a bit of spin to make this side even sound better. Get a new marketing team, this one is rubbish.

    Apologies for all who can’t abide mentioning the green half of Glasgow (even given that at the moment the only other colour in the city seems to be white! – sorry cam), but Celtic provides the best example of what any Scottish club can probably hope for in this economic climate – good crowds, a well-run business, the team leading the top division and doing not too bad ‘at the top table’ in Europe.

    But also, and crucially on the playing side, the Parkhead club has a well-known and openly admitted policy of having invested a certain amount of the playing budget into seeking out young, raw, potentially good players that can be moulded into players that eventually will provide a tidy profit. This meant money has been spent on developing a worldwide scouting network, as well as investing in coaching at the youth level.

    Now that’s a financial policy directly aimed at the playing side – and one that has actually helped them get to where they are now. They’ve already started to bear fruit – and the club is even starting to be in the position of holding on to some of the better ones for a year or two longer. All this just a couple of years after investing the money. Given you any hints yet, Chaz and Al?

    Let’s compare that with Green’s ‘vision’ so far. Neither McCoist nor Green – or anyone else (btw, just who else is in this great ‘management team’ Green talks of? there must be at least five, if he was looking at a “20-25%” reduction) – has given any idea of what the new ‘working capital’ will be used for, playing-wise, other than getting more players when the embargo ends. Not even an attempt at some BS about other potential investment areas on the footballing side to make it sound better. Missed a trick there lads.

    So even just a little piece of sensible footballing business patter, even from Ally(!), describing a sound investment policy matched to today’s footballing economic realities, would probably find a lot of backing among the more discerning supporter, not to mention the more shrewd millionaire investor. But no, we just get the same old nonsense about grand plans off the park and an eventual place at the ‘top table’ because, well, hey, ‘We Are The Ranger’ (sic).

    Sorry, unless some dramatic u-turn in attitude is revealed in the prospectus (and I hope a lot of you have ordered one – they’re bound to be collectible), the tenor of the arguments for investing so far just scream ‘gonnae gie us yer money, aw just gie’s it, eh?’. Amateurs!

    • ecojon

      @ Kenny McCaffrey

      I think there is actually a real dearth of a football business brain at Ibrox – it would be easy to assume that Green has one but I don’t believe he has and that was before reading in detail about his time at Sheffield in Fit & Proper ( there’s also a Kindle version).


      I know he played football whe he was younger but that means nothing in terms of having a business brain attuned to football. He created uproar at Sheffield – OK that was carrying out His Master’s (The Moneyman) wishes. But he had to be renoved from direct involvement with footballing affairs as serious investors don’t like mob meetings in the carpark baying for blood as it can affect the share price. Still chico left the club not that long afterwards with a nice payout which infuriated Blades Supporters.

      However since then chico seems to be better at giving football tips than football ones. He really does need several heavyweight non-execs on the Board who not only know football inside-out but also the Scottish dimension and the need for ‘balance’. We can be sure that the people currently whispering in chico’s lug are not servine up a balanced diet.

      And the pipe dreams he is spouting – not a scrap of analysis for any of them. Yea well we’ll get that land there from the Corpy – aye the auld gasworks and we’ll build a hotel on it. Oh aye the railways station well I’ll just build a new one. It’s as if he is playing Monopoly but the serious thing is that it’s not paper money but the hard cash of fans many of whom will have borrowed to be able to commit to their club.

      Lots and lots of tears down that tunnel that Ally is trapped in.

      • ecojon


        ‘better at giving football tips than football ones’ should read ‘ better at giving horseracing tips than football ones’.

      • Can’t argue Ecojon. You do highlight one aspect we all seem to forget – Chaz is really a ‘gun for hire’, and this is no doubt just him doing what he was brought in for in the first place.

        The sad thing is that we may never find out who is really pulling all the strings in the background – especially if this flotation fails, as seem likely. They’ll slink away into the shadows again, especially once the rest of the bad news comes in from the tax case, Nimmo’s commission, police investigations, etc and so forth.

        • ecojon

          @ Kenny McCaffrey

          But how can it fail? Think about it. He’s floating 22 million shares so if he doesn’t sell even 1 you would declare it a disaster. But it isn’t because you have to remember that 22 million already issues to the original consortium.

          Strong hints that they can’t sell their shares at flotation but will be locked-in for 12 months. But he can correctly declare that 22 million shares have been floated and that’s 100% of the flotation announced.

          If even a few thousand bears purchase shares he will be able to declare it a soaraway success and oversubscribed and if he says gets £10 million from the Bears it will be described as the most oversubscribed football share in history – well to be totally accurate since Sheffield Uninted launched which was descibed as the most oversubscribed football share flotation in history.

          Why think up new lines when the old ones still work 🙂

          It really is going to be interesting to see what information is provided on the consortium shares but I think it is perfectly obviius why there has always been this need to cloak the mystery shareholders with as much mystery as possible.

          And if the original investors are locked in they can’t let it fail or can they by shorting – not sure about that one. However, the original investors had these bonus shares where they could double their shareholding at a reduced price which back in the day was seen as £1 from memory.

          I would suggest that price reduced to 50p and I have the sneaking suspicion that that amount has to be paid at flotation. If I am right then you could have the 20 million shares floated (all belonging to the original investors and including their bonus shares) with another £5 million in capital raised approx from the 10 million bonus shares at 50p.

          The money from the original investment, covered by the 10 million non-bonus 50p shares, probably went to paying for the assets so they could be really creaking at the seams just now in terms of operating cash. You always have to remember that 1 possibly 2 million shares have been sold recently to an investor for £1 each according to Green. If that is Ashley then I reckon when he finds out that Green will be looking for a new retail partner 🙂

          • Econ,
            There are 22m shares issued and paid. Chic will have apportioned a value to them and they are now the equity of the company. This is the way that Chic has honoured his pledge to the founding shareholders. Ergo their 50% shareholding may have cost them circa £8m and now it is worth whatever Chic says it is worth. Interesting to do some quick maths at this point to see if we can arrive at a figure-:
            Mike Ashley has an option to buy 10% of Rangers for £1m therefore Rangers are worth £10m
            Chic is issueing 22m shares to raise £20m, Half the shares effectively (although count them and they wont be quite half!!! for voting reasons) and Rangers are now worth £40m
            Chic was all over the press yesterday saying that Rangers are worth £30m.
            What is the valuation here……….this is all amateur hour. However Chic can say that in a scenario where Rangers are valued at say £30m the founding shareholders have a £15m equity stake. Have a quick mess with the original loan/Rangers value figures and you can arrive at Chic’s original promise of doubling their money. They may have doubled their money in theory although they have actually converted their cash loans into equity. This is not a wise investment position in my opinion.

            The new 22m shares will be used for the float and will become official shares of the company when paid up. If Chic sells no shares it cannot be seen as a success because he has not SOLD any shares. He has simply converted debt into equity. Football Club equity is not cash. Cash is king in every transaction and Chic is playing a blinder on the debt equity front. I had heard rumours that there was somme dissention in the consortium and now, with the deal return becoming potentially long term, I can see why. Chic needs a major oversubscription here at a good offer price otherwise he is going to have some willing sellers in his shareholder list who are known as an overhang ie investors who want out and who sell shares when they can thus having the effect of a static share price. This share issue is also ideal for shorters who effectively bet, and win, on the failure of the share price. Cant wait for the prospectus!

        • Kenny do you not consider that DM is still lurking in the background? 2 years ago (when the club was actively on the market) he was telling people to through 50m at this club……..his associations in the past must have crossed somewhere and the real puttet master I sincerlely believe is DM…..always was awlays will be….Whyte was just another failed patsy, green is a big mouthed dumb one but another patsy all the same.

          • Michael,
            I have always held the opinion that DM used CW to handle the plan. The plan was for Craigy to run the business in a professional way and hope they won the big tax case. If they lost they could try the CVA although either way DM would have seperated himself time wise from the event. I would not be surprised that there was some financial incentive for CW to do this. This was a good plan for DM except that CW went off piste big time and wrecked the original DW exit strategy.
            I certainly do not believe that DM is any way involved today

            • The incentive for CW was to get his piece of the pie, for £1. The £27m from Ticketus to pay off the bank debt he took out against future ST, only £18m went towards servicing of the debt, the rest went into his pocket, along with the surcharge. And so when RFC crashed, the surcharge would have netted him more from liquidation/receivership. But by then ,Duff & Pheles wouldn’t play ball with him and the whole story had blown wide open.

  7. ecojon

    I have scoured chico’s recent statements and have found plenty of references about footballing wages being only £6 million pa. But surprisingly I can see no indication of hiow that figure will be altered when Ally is able to buy all these quality players form his possibly £2-3 million share of the flotation.

    Oh you’re getting more than that Ally I hear you say from the end of the tunnel. So how much are you actually getting to prepare for the Euro Super League? Oh, I’ve got to phone you on the £2 a minute club line for an answer.

    Ah it’s aw right I know the answer. By 2014 there won’t be a penny left for players 🙂

    • I may have read it completely wrong, but I’m sure Mr Pritchett’s analysis implied that the manager was on around £1m himself (maybe not too far off – remember what the wages were like when Ally became manager, and surely it would have been good PR for the club if his salary has actually dropped significantly since then). If true, it would explain how safe he seems in the job, given the cost of replacing him.

      • Budweiser


        also remember ally said in may that he would work for free until the end of the season.Then there was the aledged phone call between king and green where green aledgedly wanted ally out or staying at half his current wage. Is ally’s salary plus mc dowell and all the backroom staff plus directors salaries [surely they are getting something?] part of the £6m ‘footballing’ wage bill?

        • Missed that one Bud, but don’t understand the reason for a Green and King phone call – must have missed that bit too (sorry).

          I would have thought Ally and the backroom staff would be part of the footballing wage bill – £6m works out at roughly 30 people getting £4k a week, so can’t really tell. Directors pay would, I assume, come out a different pot (is there still a £25k a year ceiling on directors’ pay? Or is that just non-execs – sorry, a bit rusty on that one) – if they are then so should just about every job at Ibrox.

          Another point: are the market boys not supposed to be given accounts, or at least a full rundown on costs as they are? In the prospectus, I suppose?

          • Budweiser

            @ kenny

            Who knows who is telling the truth, but in this particular instance my money would be on king!

          • Don t really wish to bring in CFC again but NL is not on anything like £1m pa and look at what he has acheived not just with the first team but the youth development which is very very dear to his heart, also our CEO PL is only just on £1m with all his business accumine and business knowledge as well as his understanding of the game here in Scotland.

            just thought it worth pointing out to others the comparison with a successful effectively detb free club operating in the top leagues and holding there own with a fantastic youth policy, ( last 3 years U19 league and cup winners) and a club cutting to survive and operating in the lowest leagues with only home revenues to maintain it, where is the money going ALREADY???? thats a question I would be asking now before any more money is given……..

          • Kenny,
            No ceiling on non executives pay but usually around £25k if this helps

  8. ecojon

    @ Kenny McCaffrey

    I have often seen that figure used for Ally’s salary – even Green will realise he ain’t even worth anywhere near half of that but he has to keep him close for the moment. Once the flotation is past I reckon Green will be praying for a run of poor results to chop Ally and he probably won’t even get to cash-in on his share option.

    • DhennyBhoy

      Who’d he bring that would take the job? I reckon he is stuck with him .. No manager that cared about his reputation would touch that festering dead corpse … Seriously name one potential replacement that the fans would accept and who would welcome the job.

      • ecojon

        @ DhennyBhoy

        I think you underestimate chico’s snake oil charm – he’ll find some washed-up manager somewhere in the world going cheap and present him as the man to lead the march into the European Super Leagues.

        Two other small men have attempted long marches into Europe which ended with disastrous results for them in a non-footballing context – one being Boney and the other Adolf.

      • Brian J

        I have heard Billy Davis’ name mentioned

  9. mick

    once the zombie sevcoinaians have paid there share money in to the accounts of green whyte and ticketus sally will be off loaded hes a muppet now and is in in the con so he will not be liked when the truth of the share deal comes out hes a jedus due to the fact he never tryed to save the club from liquidation and is now party to telling the orcs to get 500 smackaroos out to fund the tribute act that is the joke of scottish football

    • Mick,
      Excellent point. I certainly think that Ally took the shilling and got behind Chic. The prospectus is nigh! Maybe Ally can say ” it wiznae me it was a big boay that dun it and he’s ran away”

  10. TheBlackKnight TBK

    Ok. Masterplan as has always been…. Part 72 revision HH

    Floatation will fail. Backed by rumors of pesky Internet bampots disrupting the £20 M “working capital fund” by registering false pledges online, Green has to rethink options available. Take the risk and float, ‘purchasing’ (as he said) all the remaining shares or does he try and bluff his way further.

    Enter stage left the Red, Whyte and Blue Knights with an ‘offer’ to take the assets off him for a song (not the bigoted type we may have grown used to I may add)

    Makes you think this was all a set up after all. Wonder how much longer the pretence can hold 😉

  11. ecojon

    @ TheBlackKnight TBK

    I really believe the key lies in the original shareholding which interestingly is referred to by Green as ‘the consortium’ which has the 22+ million already issued shares.

    But I always thought there were two separate consortiums plus individuals: 1) the Middle East Blue Pitch Holdings (Naqvi) 2) Zeus Capital & Associates 3) Various individuals such as Ashley, Craig Mather and the like.

    Perhaps they have all been rolled into one consortium. Who knows?

    • mick

      @eco &tbk there is devo something not right here dont forget the fit and proper sfa test was over looked to keep them alive hes dining with whyte mystery backers deal after deal that dies of death its a con it will all come out in the wash soon

  12. JimBhoy

    The baron has us all well and truly hooked…. Fair play to him he has made the most out a tough gig and quickly moulded himself to be the saviour, for all who say he is a sales genius I think that’s nonsense, he is a guy who listened and adapted daily to become all things necessary to the hurting rangers support. He is a chameleon, he is vague and ambiguous on a daily basis he continues to contradict himself and let’s face it lie, as long as he pushes a few buttons he is alright amongst the rangers faithful. He knows the media are not gonna question him in any great depths, again something he gauged right off… His great gift is listening and making himself needed..

    I have no doubt the IPO will have some success and it will allow the rangers to survive until the next big paycheck when next season’s SB money will be available. It is only a stay of execution as far as I am concerned. Along the way we may see some progress in the physical changes to the rangers assets, edmiston house revamp etc and there could be some long term gain there but I am sure all the money making ideas he has spouted will slowly be crossed out as no-goers… He will leave with his big paycheck and a ton of shares and such spin as to make him the hero when under the covers rangers will be in the same brittle state they are now..

    Many business and finance men have spoken about the IPO and raised many good questions, but this will be an emotional investment ONLY from the bears and those who have funds that could also buy into rangers. To this end it will see success BUT there is one factor in all of this that will make or break The baron’s tenure and it’s not financial… Winning or losing games, that’s what is important to the rangers fans… Ally loses 3 in a row they will be up in arms. Chico may be in his honeymoon period with the rangers but that will go sour when they hit a run of bad form and he gets rid of the fan’s favourite as manager, of course Ally will not be sacked he will step down graciously, with Green at his back revolver pointed at him.. Craig Levein will be looking for a job soon…With any luck..!! 🙂

    In these difficult fiscal times, it saddens me to think of some hard up fans having the emotional decision to make… Feed the weans for a month or give the baron 500 nicker.

    As a celtic fan the longer the rangers struggle the more successful my team will be so I should suggest that I actively encourage the share take up.. Until rangers get real and build that solid platform and it may take a bit longer but as this circus remains the turmoil will stay put. I cannot see rangers playing celtic in the league for at least 5 years, probably more.

    • cam

      Share flotation should fall flat as i and many Gers fans wouldn’t give a penny unless it was being run by Gers men and full tranparency was available.Chico and the gang will move on,the very worst that can happen is no club,no stadium.I would love to see that happen just to watch the loon balls in here debate the next topic about bankrupts raised by ehm ,,,a bankrupt!
      Gers fans will build from scratch if need be,what CFC do is utterly irrelevant to me and i genuinely hope that the two teams never meet again,which would help the growing toxic elements in the supports to vanish.
      I hoped for many years after the 1999 game that the police and goverment would ban away fans from attending these games.
      When CFC had problems back in the 90’s and all the tales of the old board were doing the rounds i didn’t care in the slightest what happened to CFC,its directors,future plans or any part of it.Gers supporter,follow,follow my team the rest can do,say,think what they like,,,irrelevant.
      Like most Gers fans i can’t believe the hatred that is directed towards the club,fans etc. but i am heartened by the unity the fans are showing.
      Eventually even the loon balls in here and its host will find something else to fantasise about.Meantime its great fun to watch illiterates learn copy and paste skills,wind up weirdo’s like eco who sit all day and night frantically searching freak sites for quotes and wear my moderation badge with pride.

      • mick

        why come on and read our comments why dont you go oil the bolt in your neck clown no 1 here likes you all you do is moan and slag people your a vile evil troll and you never ever mentioned anything when a said you had a wee 1 so that was an admission via silence your clubs rotten and your 3inches short of the gspot lol clown cam

      • @cam

        Not the 1st time you’ve mentioned so-called “illiterates” – maybe you should learn how to capitalise where appropriate & use punctuation properly before you cast aspersions on other’s literacy.

        Just a thought.

  13. mick

    @jim bhoy levian would love the job we all know hes a hun when commens and watt and mageough and mulgrew not in his team

    • cam

      Explain your meaning of “hun”.Campbell Corrigan is waiting to hear what you mean.

      • mick


        hun like behavior from ancient times can be applyied to the mordern day sevconian

      • COYBIG


        I found this explanation, especially for you (And yes, as you suggested in one of your posts, I used ‘Copy & Paste’. Well it’s quicker than writing it all out, word for word, like I assume you must do, after your derogatory remark regarding people using ‘Copy & Paste’):

        “Rangers are called ‘hun’ from the word ‘Hanoverian’ – protestant monarchy from Hanover, Germany who came to the British throne in 1714 with King George 1st, which in turn led to the Jacobite rebellion.”

        Therefore, maybe Mick is insinuating that Levein, or Levian as he calls him, is a The Rangers fan.

        Or maybe Mick was using it as a term of affection, with ‘hun’ being an abbreviation of the word ‘honey’ – a name that you call someone you love or like very much. For example, “Hi, honey, I’m home!”.

        Which would mean that Mick, much like myself, is sometimes bad at spelling.

        Over to you Mick…

        • cam

          I’ll accept both your apologies on behalf of Mr Levein,which might save both of you a bit of trouble and .I hear Craig’s got a good right hook on him.

          • COYBIG


            Accept my apology? Where did I apologize, and why do I need to? I never called anyone a hun, nor did I call anyone honey.

            Don’t worry tho, you don’t need to apologize on behalf of decent The Rangers fans who, unlike you, don’t think the sun shines out of Charlies arse, and that everyone else is the enemy, out to get them.

        • mick

          if the police turn up and ask me al say hun and wink at them that will certianly make them go away lol

      • jimmy

        wrecker, vandal, destroyer=the hun, quite fitting don’t you think?

        • There is also for example the Winston Churchill speech 1941 when he said in a worldwide broadcast:
          “There are less than 70,000,000 malignant Huns, some of whom are curable and others killable, most of whom are already engaged in holding down Austrians, Czechs, Poles and the many other ancient races they now bully”
          part of a quote by no less than Winnie Churchill describing the Hun attitude of some Germans, I think Mick and most people recognise Winniepoo as a truthful person. What Mick did was modernise Winstarooni’s shout at the people, that The Rangers maj.. minority are bullies and are hell bent on destruction of old established races and even free speech.
          I copied and pasted some of this response, no journo’s were injured or threatened in my actions

          • Forgot this, it is my opinion (and I really do need to have this confirmed or rubbished once and for all) that the banter termed ‘Hun’ was actually directed to CFC fans by old RFC fans up till the late 50’s until one day CFC fans got in first and RFC fans went in a huff not knowing what to do about it.
            Help me please

  14. mick

    the main thing outed this week was the meeting with whyte so that opens doors to a million and 1 senarios and makes him look well at it and part of a master grand plan ????

  15. COYBIG

    I know it’s been asked countless times before, but why does nobody from the MSM ask Charlie about his forever changing statements? Infact, it seems the more ludacris his rants become, the more the MSM seem to trumpet them and him.

    In the last 8 years, Rangers spent £100M on players and only recived £5M? They got £7M from Alan Hutton alone.

    Arsenal fans don’t want to play Swansea? There was all but a full house at the Emirates Stadium, the last time they played each other there.

    Aston Villa are rubbish, but get £250M a season? Aston Villa have won the European Cup, unlike Rangers or The Rangers. And they get nowhere near £250M a season.

    The Rangers turnover will soon be £100M? An absolute joke of a statement.

    The Rangers are debt free? So what happened to the £5.5M loan you gave them then Charlie? You know, the loan you then used to buy the assests of Rangers for yourself…sorry, them. The loan that means the fans have actually bought the club, but now they’re expected to buy shares in it? Nice wee trick, does that suit have any pockets? Because you don’t need any, by the looks of it.

    The Rangers wage bill has went from £30M, down to £6M? Really?

    Davis £25K/pw(£1.3M/pa). McGregor £25K/pw(£1.3M/pa). Whittaker £20K/pw(£1.04M/pa). Lafferty £15K/pw(£780K/pa). Naismith £15K/pw(£780K/pa). Bocanegra £10K/pw(£520K/pa). Edu £10K/pw(£520K/pa). Goian £10K/pw(£520K/pa). Aluko £5K/pw(£260K/pa). Fleck £5K/pw(£260K/pa). McCabe £2.5K/pw(£130K/pa). Ness £2.5K/pw(£130K/pa).
    Total = £7.54M/pa.

    That would mean your previous wage bill of £30M, has been cut to £22.46M (Without the added wages of the players who signed this season), not £6M. So, where was the other £16.46M cut from Charlie?

    • It’s becoming a joke Coybig – don’t think we can believe any of the figures he comes out with. But maybe that’s all part of the plan – all you’re left with is what you want it to be, esp if you’re a supporter. Might even work

    • Oh sweet Lord, thats good, well done,

      Aside, did you notice that Hugh Keevins used the “snake oil salesman” ref in the days paper

  16. martin c

    Found this on the beeb although i can’t find any reports online re creditors’ meeting on Friday.

    The administrator of Rangers Football Club plc, Duff and Phelps, is facing questions after taking £2.5m in fees before gaining the necessary approval from creditors. (Herald)

  17. mick

    a was just flicking throw twitter there trendmap glasgow and seen a no vote ad for the referendum it looks like a 70s bnp add ffs people vote yes as soon as they see it

  18. JimBhoy

    @Coybig you make a mistake here by introducing facts and logic… The baron could make the same comments tomorrow and throw another set of numbers in there.. What did they get for Cuellar, Boumsong (Stevens inquiry), but he does make a point that kinda backs up the whole reason they were in the horrors, they brought in big stars who were nearing the end of their career and who would cost them in wages but who had no sell on value… Almost the opposite to the current Celtic policy.

    A vote of confidence from the rangers mouthpiece, this will fill all the young guys trying to learn their trade with a sense of backing and belonging…Sandy that’s why you are not a coach mate…Not even sure what your job is but i bet you will be the one who goes by the wayside when Green sees the limited value you represent.


  19. mick

    @coybig for him to reach a 100 mil turnover he would need to sell the stadium have 2 season tickets sales in 1 financial year do the shares issue and get 30mil also sell the shirts to ashley he might have all this as a aim but it would leave them well stuffed after words due to lease back of stadium no shirt money coming in no season book money and dividend payments it is possible but only green and the backers will see any of the profits of it

  20. mick

    its a constant flow of lies from green it will all cave in soon he will slip up and it will all be there for us to see and say to sevco see told ya so

  21. duplesis

    I see Green has apparently apologised for the remarks made about Aston Villa – quite right too.


    He certainly has a habit of letting his mouth run away from him.

    • ecojon

      @ Duplesis

      If I was into conspiracy theories, which I try not to be, I would think having listened carefully to Green that he is such a clusterf*ck for Rangers that he may well be of the green persuasion and sent by DD to cause as much disruption as possible to Ibrox and all who are about to sink in its current form 🙂

  22. mick

    @coybig your comment from yesterday
    Great comment by COYBIG on Paul Mc’s blog.. Did you know that ‘Charles Green’ is an anagram of ‘Rangers Leech’.? gift that keeps giving LOL

    its a tweet sensation well done to you keep up the clattering bampottery the net loves it well done

    • COYBIG


      I saw the anagram on Twitter, so as much as I would like to say I noticed it, I didn’t. Can’t remember the name of who wrote it tho. So, sorry for stealing your thunder, whoever you are, I didn’t mean too. 🙂

      • mick

        thats like me with piegate walliam texted about it then a copyed and pastied it lol no harm done cams here now dont feed him

  23. mick

    Just one other thing, if you don’t mind. Something I have never grasped.

    If Ticketus are not owed anything then what use is a floating charge to them. It would be a security over no debt.
    D&P sought creditor claims for a CVA – which, of course, ultimately failed.

    I have seen no evidence (in fact, quite the opposite) that Ticketus made a claim – as an unsecured creditor – for the purposes of that CVA.

    In theory (if not in practical terms) Ticketus still have a valid contract with RFC(IA) that should see them paid according to the agreed schedule. Of course, they won’t be paid – but, as it stands, they appear to have no CURRENT debt with RFC(IA).

    It is only if/when Ticketus accept non-performance “as a repudiation, rescind the contract, and claim damages”, that the debt becomes something that the administrators or liquidators can deal with. Without a valid claim for damages, they cannot disadvantage the other creditors by allowing debt that is merely assumed. As I say, to my knowledge, Ticketus have not yet pressed that button.

    So the very big question is why??

    We know that CW kept the floating charge alive when the HB0S debt was repaid and assigned it to Wavetower. This is a known fact.

    CW/ Wavetower have no valid debt associated with that floating charge. This has been asserted, on a number of occasion by D&P and is not really disputed.

    We are told (by both CW & Ticketus) that CW gave commercial & personal guarantees to Ticketus. We have no real reason to think this is not true.

    We are told that Ticketus have started legal proceedings against CW and Liberty. We can, I think, agree this is a reasonable action in the circumstances.

    We know that a floating charge was placed over the assets of Ranger Group (Wavetower) to the benefit of Liberty. This was registered some time ago and, again is not at issue.

    We know then, with a fairly high degree of certainty, that Liberty are the ultimate beneficiaries of the RFC(IA) floating charge (but have no associated debt) and that Ticketus have a potential claim against both Liberty and RFC(IA).

    From all of the aforementioned, and without too much speculation, we can deduce that Ticketus (with the acquiescence of CW) could convert their potential (as it stands at the moment) RFC(IA) debt of circa £27m to a debt secured by a perfectly valid and enforceable floating charge.

    Perhaps CW is playing hard-ball and Ticketus do not yet have control of the floating charge. Maybe he is looking for some pay-off before signing control over… perhaps.

    But, on the other hand, even with an enforceable floating charge, Ticketus will only see £1m – 2m of their £27m on the basis of the sale of assets at £5.5m.

    And lets look at that £5.5m sale.

    The current rateable value of Murray Park is £600k – for Ibrox it is £1.9m.

    What is rateable value?
    The Scottish Assessors give all non-domestic property in Scotland a rateable value, which is a legally-defined valuation of a property, broadly based on an analysis of annual rental values.

    So, we have two properties – with legally-defined valuations that say they should command around £2.5m in annual rent. Say that £2.5m is too high. Say, to be conservative, it should be £2m. Say, you’re looking for a generous 20% gross return on your investment. If the annual rent is £2m, the property value is around £10m. In reality, £15m – £20m should be achievable in an open sale. So why were the properties sold for £1.5m?

    Charles sold £10m of STs and is looking to raise another £20m on the strength of the Rangers FC brand. It appears to me that the Rangers FC brand – and the other trademarks – have a value running into high seven figures.Why was the brand sold for £1 along with all the other aspects of “goodwill”?

    Why did they continue trading and the administration allowed to run a £4m loss?

    The only answer, that makes any sense to me, is that the administrators can “write-off” a larger amount of debt than they cost the creditors by trading at a loss and selling under-value. While everyone was fixating on the possibility of HMRC going against policy and agreeing a CVA, the real deal, I think, was done with Ticketus.

    It seems common sense, that the Ticketus investors were in a strong position to negotiate a deal with D&P that would see them get the assets cheaply by allowing the unsecured creditors to pick up some scraps.

    If I am correct, Ticketus will never make a claim against RFC(IA) if the sale to Sevco stands. If BDO threaten to undo the sale, Ticketus will threaten to make a floating charge claim against RFC(IA). If that claim stands up (and I see no reason it would not) Ticketus get everything up to £27m and the unsecured creditors get nothing. As this would be a worse result for creditors as a whole, BDO would not, in those circumstances, undo the sale.

    IMO, if D&P don’t have some “get-out”, they are on an extremely sticky wicket – both professionally and legally. I can see no other explanation for any of the apparently baffling events and decisions, than that the “confidential” part of the Sevco sale was that Ticketus would not claim on the CVA.”

    • COYBIG


      Have you got an account on KDS? If so, what’s your name? And can you tell me what type of email address I would need to be able to sign up? Do you really need an email adress that you have to pay for?

      • mick

        yes as it keeps the orcs out and its less bitterness from them kds is free to view every part is open to the public without joining its open and transparent you would not give out data online about names as cam will troll and copy and paste anything a say and sent to police lol a dont comment on it a just read and copy from it anything related to the rtc or sevco its a good source of info the sevco thread is spot on for me being obsessed with everthing hunery

    • Mick,
      Your spelling and grammar has improved noticeably!

  24. COYBIG

    LIVE! A man freefalling from the edge of space:


    Please, nobody tell Ally or Hugh Keevins about this.

  25. Proud Scot

    On a slightly different thread but still linked to Chuckles Green, he has apologised to Aston Villa for calling them “completely useless” saying “no offence intended”

    WTF? What did he intend?

    Or was he just not thinking before he put his mouth in gear?
    Not for the first or last time I suspect !!!


  26. Martin

    The prospectus for Rangers AIM share issue has yet to be published, I’m sure many are looking forward to reading it.
    The statements so far on what this money will be used for seem confusing, but I’m sure when the prospectus is published all will be made clear.
    What is known is that there will be a £500 minimum investment.
    One thing that is not confusing is that Charles Green has tapped into something fundamental to the Rangers support. Loyalty.
    Charles Green has done a brilliant job in getting the fans behind him, he has pushed all the right buttons and made himself the representative of all things Rangers.
    Now comes the play.
    It’s a test of loyalty.
    In my view a false and unnecessary test, of what it means to be a loyal Rangers supporter.
    He wants fans numbered in thousands to prove their loyalty, by coughing up £500 pounds each.
    Will the Rangers fans fall for this?

  27. dan

    Cam, you get more frantic with every post. Calm, Cam! We know you don’t care what we say, that you scoff (ha ha ha) at our obsession with Sevco. We believe you when you say you were supremely indifferent to our plight back in the year BF 1994 ( before Fergus). Honestly, we believe you, man. Chill. Though—-I do detect a sense in your latest riff—that you yourself sense, as Francis Albert so wonderfully sang, that ‘the end is near, and now you face the final curtain’—doo-doo–doo-doo–doo etc etc (and just for you we’ll call them ‘blue doos’).

    What’s the worst that can happen? You lose the lot, stadium, everything: a consortium of Rangers men emerge, pick up the pieces and rent Hampden for home games. Simple. Do you honestly believe that the Celtic fans on here think you’ll disappear completely? I personally wish you would, but I doubt if that will happen.

    • mick

      @dan cam slags people on dla but does his own wallpapering lol hes well disturbed and thinks the country is his and a few weeks back was calling celtic fans chid abusers .dont listen to him or feed him and he wont come back hes no friends on follow follow and lurks on here hes the site stray cat like the one you check the wife for feeding as it comes back all the time hes a vile troll no 1 likes his comments and constantly slags any1 that mentions sevco cam real is the site clown

      • cam

        I’m disappointed but sadly not shocked that an intelligent man like Mr McConville continues to allow you to make allegations of criminal activity and tell lies about individuals.
        Therein lies the weakness.

        • mick

          cam your looking for attention of paul ,now you came on and attacked the people who take time out to source the truth you name call all the time your twisted you troll non sevco sites looking for atenttion and slag people on benifits dla and giros the goverment done away with giros dla is for old people that get cars for mobility your vile a dont get benifits but ave yet to meet a scottish family that does not have a member on them thats why we pay taxes to support the less fortunate and you have no right to slag these people no matter what team they are now just bolt your not welcome with that atitude

  28. cam

    Are the people in here real or part of a computer program? An automated response program that sends out variations of the same guff to sites activated by keywords,,,Rangers,history,tax etc.
    As part of my investigation into the sequestration of McConville o Neill, i was led to the Lawyer site and a link there led to a comments site which for all the world could be copied and pasted from this loon factory.
    Agent Blue has ordered all units to trace the central brain.His first instruction was to put a face to each name and not to be duped(good word) by apparent imbecility.
    One agent covering theme bars in the Barras thought he had cracked the code by noticing recurrent pattern in dominoes going missing and turning up at tax offices.This theory was dismissed after the unsavoury urine smelling fetish habits of a sad individual were revealed.
    Investgations are ongoing.

    • mick

      he called some1s mum the other night a cow hes vile lol

      • cam

        Once again i have achieved moderation,i haven’t called anyone a crook,used sectarian insults,told lies about individuals.
        I have talked 90% unadulterated mince and ripped the p*@s out of a few in herebut the doctor can up the dosage.
        My beloved mother brought me up far too well to stoop to your level,Mick.
        I personally find you a disgrace.

        • mick

          cam you slag people on benifits its scotland were in 1 of the most empoverished countrys in the western hemisphire your sick a bet you dont give to beggers your a disgrace even my friends that are hard blue would never do that so pixx off your a nothing both rangers and celtic together struggle to pay bills the same your sick its not about soccer now you said that troll of the worst kind

  29. COYBIG


    If you think this site is guilty of blatant gerrymandering, then don’t read or post on it then, simple as that. But I think everyone knows, you’re just on here trying to take the pish. With the emphasis being on ‘trying’.

    And every new post you make, just reaffirms that perception – Cam, someone who is absolutely shite at Trolling, but obviously doesn’t know it.

  30. mick

    hes in the 4th tier of trolling

  31. JimBhoy

    @cam enjoyed your earlier posts and i think all enjoyed your speculative stuff on the rangers. I for one as you probably know do NOT hate rangers, but your recent mice is off, so as i suspect you are a decent guy, pretty sure of it, but take a fukin night off…Re-assess, talk later, do not give the Celtic population an easy decision on where you are and what your motives are… I know it is a fuker being a rangers fan right now, most of my family are, but ffs build bridges come back, pleeeeease!!!!

    • cam

      Fortunately in my own experience this site is not representative of any part of the “Celtic population” that i would have a pint with.
      Andy,fair play to him toed the party line and played by the rules in here but i suspect that once he gets uppity the usual suspects will be set loose.I have batted a few straight balls right back at Rangers bitter enemies in here and the hatred is beyond what i have encountered in the real world.
      If anyone steps up to sling mud at individuals characters then they must be prepared to get their suit dirty and not cry foul when the muck is flying towards them.
      I have been “moddied” twice now and its a bit like Mr Keevins ban for speaking out of turn.I would have a pint with Shug and bow to his old school wisdom.
      If you are going to insinuate and infer on someones character but censor perfectly reasoned counter remarks then i think the baws burst.Using internet sources and quotes is a two way street and if anything is libellous or actionable then who better than a lawyer to deal with it by means other than”moderation”.
      Allowing certain posters free rein to smear individuals and groups of people,then smacks of double standards.
      As i’ve said this site is just a part of the propaganda war being waged on Rangers and its fans.
      The club and its fans have for too long tolerated the continual sniping from boardrooms,politicians and officials with an all too obvious agenda.
      Our brave new cyberworld has many advantages regards information but it is still bound by data protection,client confidentiality,govt. legislation, so in the near future if any laws are found to have been broken i’m sure it will be revealed.
      Rangers and its fans have two battles,on the pitch it will be a long slow haul but thats ok,patience and humour will win that fight.
      Off the field will require many qualities.The Rangers family will provide all of them.
      You are by your posts, a nice guy and i wish you well and if my wind ups irked you then i apologise.Its never hard being a Gers fan though Jim,always has and always will be an honour.
      A year ago Lenny was a dud,Lawwell a pudding,the refs crooked and the governing bodies ran by the Illuminati,,,,you guys are certainly changeable!
      I won’t be building bridges in here,i thought it was a better ran establishment but tonight i’ve been served a bad pint.

  32. JimBhoy

    Paul sorry for the profanity…! Just tired of a lot of things..!

    • apologise to the mice please:)

    • ecojon

      Quite simply when anyone is as disturbed as this guy then you do him or her no favours by attempting to converse with them. Indeed you may deepen their psychosis (a generic psychiatric term for a mental state often described as involving a “loss of contact with reality”.

      Psychosis is given to the more severe forms of psychiatric disorder, during which hallucinations and delusions and impaired insight may occur.’

      • I learned this the hard way, sorry for much earlier posts, I came in when he was in his witty stage, bipoloar I think. He is near to attemping to be a normal guy again, but I gave him the “ignored” notifcation and tha is what I will now do

      • JimBhoy

        @ecojon i sooo admire your stuff but for once i disagree with you… WE cannot really comprehend the stuff the Rangers fans have had to endure for the last half year, it must be fukin nuts and good and bad apart i hope it ends some time, then we can talk fitba’ fuk business just fitba’…

        The rangers fans HAVE to buy in simply because IMO they will not see the season out otherwise… So it has to happen, a-hole rangers fans who slag me and say otherwise take a good look at where you are..!

        My views on Green are known, mostly in some joyality (is that a word), I know the rangers fans think we (celtic and more) are waiting to put the last nail in the coffin but rangers need to get on the right track, they have chosen the ‘get back quick line’; when they have such a fukin awesome opportunity to get it right…!!!! just me?!/!

        • ecojon

          @ JimBhoy

          I have no personal animosity towards Rangers and the vast bulk of the Rangers support but I was serious when I posted what I did.

          We are not helping the individual concerned by responding to him or her as we are just seen as part of the ‘voices’ which are attacking the very fabric of their being as he or she not only believes but indeed experiences in their mind.

          Hey Rangers fans have no monopoly on being emotionally torn apart as their football club faces extinction – Celtic fans have been there not so long ago and so have the fans of many other clubs.

          But the anguish the suffer doesn not give them the licence to act in the way that this individual has doine for some considerable time. I personally don’t think they are simply trolling and do believe we have an individual who is deeply hurt and needs professional help.

          It would appear obvious to me that their health might possible be best-served by avoiding neutral forums where there are many different opinions. But I hesitate to recommend that they should restrict themself to a forum which perfectly mirrors their own psychosis as this could possibly deepend and prolong the illness.

          It is therefore with compassion that I make the plea not to feed this individual psychosis and we can but hope the patient returns to the care regime which I feel sure that they have previously been part of.

          On a more general note I accept that if they don’t buy at least £10 million in shares they won’t reach the end of the season. However they must have cast-iron guarantees over what the money is being spent on and not some vague dreams.

          At the end of the day it is their money and up to them what they do with it but they must try and protect their club as best they can which will be difficult as chico is pressing all the buttons – but he is almost out of control and virtually hysterical in his language and claims. It is a very dangerous time for Rangers and therefore for Scottish football.

  33. JimBhoy

    @Mick your earlier post was sublime dude @5.22, totally blew me away… What a really smart guy… I know your views are pretty much the Celic but that was a great read fella… Much kudos..!

    • mick

      jim am intermediate a copied and pasted that did you not notice there was no spelling mistakes and there was fullstops throw out it al take the praise any way lol

  34. JimBhoy

    To all who regularly post…. i have learned so much, know so much about legislative thing, fiscal thing, big words and I (well i did) as a smart 45 yr old manager of a worldwide multi company… But i can safely say I am a smarter man this year… please don’t send bad comments to that i don’t mean to be baw headed but what i have learned is that WE all love our footie and associations and long may that passion continue..!

    • Well said Sir, I now feel the time is right, I now out my self. I too have learned so much that I will take forward on my career path,

      Lord Hodge

  35. mick

    the whole country is learning ever day with it all the msm are making us dump with lies and irelevent storys about crap read the blogs and dont but the record or sun and your mind will grow no matter what team you are the msm and a few suits from the sfa and rfc have conned the whole nation although we detest each other for 90 mins 4 times a year we all lead the same lives and breath the same air we all have family that are celtic and rangers and its not fair that con man after con man and the msm are fleeceing them 500£ in glasgow is two weeks average wage to a manual work and for green to emotionally black mail them for it is sick it would be diffrent if the fans were on the board like celtic then yes it would be good for them but we all know when the shares monies go so will the team greens a sharke and a nasty 1 at that

  36. JimBhoy

    @Mick speeling mistakes rokc….The sentiment counts and I do not know anyone on this site who would honestly wish harm on anyone else….

  37. JimBhoy

    Luke is king

  38. JimBhoy

    @ ecojon lets sort it out…. x

  39. Mike B

    Who owns ibrox? As in title deeds holder. Registered etc. Not sitting tennants.

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