Yet More From Ibrox and Mr Green Explaining Why the Shares are an Essential Purchase

And one more – confusion re club and company, and an update, without numbers, about the new share offer.

My comments are in bold.

———————————————————

CHARLES GREEN insists it was crucial to give Rangers fans the opportunity to invest in the club. Around 26,000 supporters had holdings in Rangers under its previous parent firm and lost them when a new company was formed in June.

Crucial to give the fans the opportunity to “invest in the club”. Supporters had shares under “its previous firm”. The shares were lost when a “new company” was formed.

What are the fans and investors being given the chance to invest in?

Will we see the emphasis for fans being on investment in the club, and for institutional investors, on a profit making business? How can that fit into the Prospectus?

It is expected interest in putting money into the Light Blues in return for shares will be high after the club announced its intentions in London today. And while Green understands the difficult financial climate at present means some won’t be able to invest, he knows many will be keen to subscribe.

Roll up, roll up, shouts Mr Barnum!

Speaking exclusively to Rangers TV in the capital, he said: “It’s very important that fans get the chance to invest in their club. You’ll have seen in the last few weeks we have been over to North America and to Ulster as well, where we met fans groups last Thursday. We then met fans in Glasgow on Friday and both went through our presentation and told them what our plans are.

“Of course, the club has tried to raise money (through share floatation) in the past to raise money and sometimes the fans haven’t taken part.

Saying the fans did not take part is a bit like saying that bears are occasionally known for doing their business in the woods! On the other hand, there are 26,000 disappointed shareholders – who all had to have bought their shares at some point.

“But it was very important for us that the 26,000 people who lost their shareholdings when the oldco collapsed were given the chance to reinvest.

How is he giving them a right better than any other people, as seems to be the implication? In addition, it will take a masterpiece of selling to get 26,000 people who lost their entire RFC investments before to invest again?

“We do acknowledge that these are difficult financial times for the whole world, not just for Rangers fans.

“But the reality is we made a promise, we’re sticking by that promise and we think there will be strong support.

“People have seen the turnaround at Rangers, the crowds have been fantastic and we’ve had investors come up to Glasgow.

“We had a number of potential investors there when we played Motherwell and of course the atmosphere was fantastic and the result was great.

I hope there were few at the Stirling Albion match!

“People can see there is value in investing in Rangers and not just because someone might be a Rangers fan.

“I think there is a very, very solid business here now and what has emerged over the last few months is a different model.

“As Brian Stockbridge has got tighter controls, we’ve got a team in place and Imran Ahmad has begun working on the commercial side, things have changed as Rangers have rebuilt.”

So, despite saying that there is priority for Rangers fans, there is value for other investors? So other small investors are acceptable – even if not Rangers fans.

 

——————————

 

And Mr Green followed this up yesterday with the following:-

 

CHIEF Executive Charles Green today thanked Rangers supporters for their ‘very encouraging’ early response to the announcement on Thursday by the Club that it is to seek Admission to the AIM market of the London Stock Exchange.

Rangers plan to raise up to £20 million through an Institutional investor placing and limited public offering. The funds raised will be used for strengthening the player squad, improving and developing the Club’s properties and facilities, as well as providing additional working capital. It is anticipated that Admission will become effective before the end of the year.

Charles Green said today: “By close of business last night, Capita, the company handling share registration had received registrations of interest in buying shares which, on completion, would be a very significant step towards us achieving our objective.

“Although these are registrations of interest at this stage, we find this a very encouraging early response, particularly since the registration process had only been operative for 24 hours.

“This is an early indication of interest but I would like to thank fans for the support they have given the process so far and we are pleased that fans have the opportunity to invest in the Club.

“The Club is keen to accommodate as many fans as possible in the process and will welcome continuing supporter interest to help us achieve our objectives.

“I think this shows once again that Rangers are a big Club with a big support. Now we are a debt-free business there is every opportunity for the Club to be run efficiently, effectively and successfully.”

Every time Mr Green goes on about the business being debt-free, two things come to my mind.

First of all, their debt-free status is only as a result of the massive insolvency of the company from which all the assets, including history, were bought. As Mr Green would have it, the club shed its debt as a snake sheds its skin, except there is no dubiety about the snake’s identity after that process.

And secondly, is the business really debt free?

The original plan for the CVA involved investors lending RFC the £8.5 million to see it through. However, as we know, that did not happen and therefore the asset sale took place at £5.5 million.

That was an outright purchase and not a loan. Therefore, whilst investors might have borrowed to put cash into the original investment, that is not a debt due by Sevco.

However, what about the football creditors? Have Dundee United been paid? What about the fee for Lee Wallace? Has the final instalment been paid?

As I wrote before just because the payment is not overdue does not mean that it is not a debt!

And does the agreement (remember, an agreement) by Mr Green to meet the football debt include repayment of prize money, should the Nimmo Smith Commission recommend stripping of titles after a guilty verdict?

Lance Armstrong faces demands to repay millions of dollars of prize money won over the years he has been held by USADA to have run a sophisticated campaign of rule-breaking in cycling.

Should Mr Green’s Rangers be ordered to repay prize funds, then I accept that this is not yet a debt, but it could run to a large sum. How is Mr Green going to react to such a decision? Light the blue touchpaper and retire, I imagine!

In the coming days, I expect to see more PR spin from Ibrox, or should I say more neutral advice from the executives of the company which is about to be floated.

It should be interesting!

Finally, I am glad to see how well the initial expressions of interest have been. I must confess to having registered interest myself, and in error clicked £10,000 as an indication of my intended level of investment. Mind you, if the returns of 400% indicated by Mr Green come to fruition, it might be worth looking for more!

I assume Capita have the technology to weed out all the expressions of interest from “Craig Whyte” residing at “Castle Grant”!

 

Posted by Paul McConville

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142 Comments

Filed under Charles Green, Rangers

142 responses to “Yet More From Ibrox and Mr Green Explaining Why the Shares are an Essential Purchase

  1. mick

    if green said 50% discount on shares to old share holders then you could say right thats a good deal and hes not conning them and wants the rest of the money to plug gaps in finance but to come out with moonbeams and dream teams makes him a lunitic like murray and whyte hes conning them and the snp and city council are watching it its sad also the sfa should have secured future floats at a discount for the share holders that lost out after green cons them there will be no way back some1 at sevco should stand up and demand answers about whyte and ticketus and why the sudden rush to get rich quick via the poor fans money if they can raise 20 mil on a share issue why did the fighting fund only reach 500,000 its a massive con on a grand scale and legal or is it we will have to wait and see BDO and LH might have something to say or bill him for more money not that he will care as hes raking it in at the moment and is off soon any way ,the meal at the savoy nails him as whytes mate and the silence from ticketus means there all canoodiling to con the desprate bears out of there hard earned cash

  2. Well done Paul, although I very much doubt that’ll be the last you’ll write based on the media spin from Sevco Central – esp as I see Green says he will be restricting general media access. Everything might soon be coming to us via this totally unbiased outlet!

    I’m still a bit puzzled by the “26,000 people” who invested previously, though. Was that really 26,000 individuals, or 26,000 shares? I thought our Saarth Effrikan friend held the majority of those? Apologies if I’ve misread.

    The Green Lantern is still a bit vague on figures, and not just balance-sheet ones. Just how many people are working at Ibrox on this? He keeps talking about ‘teams’ , as in the marketing and financial variety, but I’d really like to know just how many are on the payroll. Maybe they’re mainly temps? I’m sure it’ll be on the prospectus – under what column we’ll have to wait and see I suppose.

    Also, I’m glad so many have applied for the souvenir progr- sorry, prospectus – keeps everyone involved in a such positive frame of mind ;0)

    Anyway, happy what’s left of the weekend, everyone – I suppose we have BDO coming in over the next few days…?

  3. “lost them when a new company was formed in June”
    I think the truth is that when 85% of the108,791,499 issued shares were sold to Craig Whyte for £1.00, it rather made the shares worthless.

  4. Groundhog day.
    http://www.skyscrapercity.com/showthread.php?t=566204
    I am reminded of a similar incoherent deluded fool, George Bush who said:
    “There’s an old saying in Tennessee – I know it’s in Texas, probably in Tennessee – that says, fool me once, shame on – shame on you. Fool me – you can’t get fooled again.”
    Or indeed, one of my favourites:
    “And so, in my State of the – my State of the Union – or state – my speech to the nation, whatever you want to call it, speech to the nation – I asked Americans to give 4,000 years – 4,000 hours over the next – the rest of your life – of service to America. That’s what I asked – 4,000 hours.”
    For America, read Rangers fans.
    I fear for the Reverend Al’s sanity.

    • Jaysus.
      I have just spent the last half hour rolling on the floor looking at GWB videos on Youtube.
      Some one has to do one on Charlie. He has more material than Billy Connelly.
      Elephants and Yorkshiremen never forget. I know that human beings and fish can co-exist peacefully. LMFAO.

      • mick

        @goneinthemorning

        lillys message to gwb and his klan a apply this song to the left haters of scotland to lol

        • Nice one Mick.
          Dubya would have been nothing more than an affable clown had it not been for the fact that he was the most powerful numty on earth at the time.
          Way off topic, but I live in the Middle East and Iraq, Afghanistan and Pakistan have been monumental political and social disasters.
          I have in-laws in Iran. Including the one member of the Teheran Celtic Supporters Club! My brother in law has an African Grey parrot which shouts out “Celtic!”. Took me a week to teach him that! (the parrot, not my brother in law!) And the kerbs of all highways are painted in green and white. The street the British Embassy is located on, used to be called Churchill Avenue. It is now called Babisandz Street! The tension here is quite palpable. I really hope that goodness and sense will prevail.

          • Mick

            Good for you My wife is European Muslim Mediterranean it’s terrible for them with the bloody needless wars no 1has the right to send any1to there death at least you don’t have to worry about drunken thugs on asaturday night or your kids taken drugs good luck to you and your family and businesses and lets hope all the people involved in the wars see sence and value live more

          • ecojon

            @ goneinthemorning

            We are heading for catastrophe on this affair and it can all be traced-back to our colonial past and our territorial expansionism and that of others.

            Worst of all we destroy the moderate Muslim case which means that they find it harder and harder to deal with extremists within their own society. I have never ever believed that we can impose Western values on societies using the gun or foreign aid especially when we support leaders on their ability to terrorise and brutalise their own people to make them compliant.

  5. ecojon

    I reckon the very woolly response over the pledging exercise given by Green means it has been an absolute shambles and they haven’t a clue what’s genuine and what is – how shall I say – a neeborly expression of interest 🙂

    I just don’t think they have been prepared for the level of ‘Tic sophistication in the ambush which will continue until the shutters are pulled down..

    Anything else he comes out with will be a rehash of the fantasies already peddled and I think the forthcoming prospectus will become a masterpiece of what isn’t actually disclosed in it when the bones of the debacle are picked-over in due course by the London Stock Exchange.

    • I can’t wait until my prospectus is sent out! I have had a vision that it will be No. 1 on the Daily Record best selling Fiction list!!
      Apologies for the flippancy, but no amount of sensible and critical financial analyses will detract from the fact that this will be an epic fail.
      If Charlie does not implement serious cost cutting (and I mean millions) any cash will be spent quicker than a wean’s pocket money in a sweety shop. With corresponding tooth decay.

      • You’re right gitm, it’s all hokum, even hilarious hokum at times, but baloney nevertheless. We’re bound to get back to some concrete legal stuff in the next week or so…

        • I think the legal stuff may take years, Kenny. The whole saga goes way beyond the Rangers FC. It will involve off-shore accounts and slush funds and dodgy financial dealings with a certain bank. Remember that MIH was more than a billion dollars in debt. WTF? This is where the real story lies. Pun intended. For me, RFC are but a hapless bit player in the shenanigans. BDO may help point in the right direction but the full story will take years to work out. Maybe Jimmy Hoffa will be found by then.
          The Rangers saga is small change. The 134 million does not reflect on the real situation which is made up of claims for tax coupled with interest and penalties. As RTC says, the real figure will be much lower than that.
          We see it from a football standpoint but it really is much more than that.
          Charlie and TRFC are but a passing joke despite the moral outrage we all feel. Dust in the wind.
          MIH et al will be the real culprits here. Je pense.

          • Just think how desperate I would be if I sold a certain player to another club for a substantial cash profit and then paid an ex-employee a substantial amount from an off-shore trust of which in no way shape or form he could possibly be a beneficiary of.
            This is, of course, a hypothetical example. And is in no way base on actual events. Indeed, I believe I did it in Championship Manager.

    • Thomas

      Green couldnt float a cork!
      His AIM is off, Sevco II coming soon.

  6. JimBhoy

    Fuk that Ecojon,,,,, Shares are us Go the baron……. He da man..!

  7. mick

    the thing that gets me why sell 50% of the company for 20 million if his future projections are 100mil in 3years would it not be wiser to wait till then then float at double the price the mans a head case he should tell the truth to the fans why theres a panic for there cash and the rangers fans that run supporters clubs are letting the fans down agian by being loyal lapdogs and sucking up to the new board its history repeating its self the sfa should ask more questions as well as the whole country is a stake holder in ibrokes and after what we went throw watching the oldco die is it not in the games intrest for transparacy doncaster regan and ogilvie are letting the fans down agian with giveing charlie bhoy a free hand to do what he wants with the assets

    • ecojon

      @ Mick

      Silly bhoy – Uncle Chico says he’s done it now so that the fans can buy in cheaper instead of paying more 2/3 years down the line 🙂 Moonbeams are definitely falling of someone’s heid!

      I keep wondering where all the sensible business-minded Rangers supporters have gone. They used to have masses of professionals in their ranks who could have torn all this to shreds in seconds and yet there is utter silence.

      I think they have walked away, I really do. And they have been replaced by the delusional and the Zombies.

  8. mick

    A wide berthMeaning

    Meaning

    A goodly distance.

    Origin

    ‘Wide berth’ is most commonly found in the phrases ‘keep a wide berth of’, ‘give a wide berth to’ etc. It was originally a nautical term. We now think of a ship’s berth as the place where the ship is moored. Before that though it meant ‘a place where there is sea room to moor a ship’. This derives in turn from the probable derivation of the word berth, i.e. ‘bearing off’. When sailors were warned to keep a wide bearing off something they were being told to make sure to maintain enough sea room from it.

    Like many seafaring terms it dates back to the heyday of sail, the 17th century. An early use comes from the redoubtable Captain John Smith in Accidental Young Seamen, 1626:

    “Watch bee vigilant to keepe your berth to windward.”

    Berth came to be adopted more widely into the language, just meaning ‘distance from’. There are several such figurative uses of the it in the 17th and 18th centuries – ‘a good/clear/strong berth’ etc. We have to wait until 1829 for Sir Walter Scott’s Letters on demonology and witchcraft for ‘a wide berth’ though:

    “Giving the apparent phantom what seamen call a wide berth.”

    or in glasga terms stay well clear they will bump ya

  9. Laurie Monaghan

    Hi Paul,
    Got my mail this morning re my interest in the share issue. I had completely forgotten about the £10k(sure that was the max) for which I had indicated an interest.
    How many more fellow Celts had registered?
    lol HH

  10. charlie o hare

    Debt free ?
    http://www.bbc.co.uk/sport/0/football/19243568

    He said in that clip, that he will pay off Hearts July 2013, £300,000
    the last paragraph asks about the £2m+ owed to English and European clubs, surly he will have to pay that back before Uefa allow this club to compete in any European competition

  11. Thomas

    Paul your on fire! Keep burning my man!
    I got a copy of Murray Park Title on Friday from Registers of Scotland, the Lease from Kelvinside War Memorial until 2062 is still to The RANGERS FOOTBALL CLUB not THE RANGERS FOOTBALL CLUB.
    Murray Park I think, is with, or should be in the hands of BDO on Monday, want a copy?

  12. ecojon

    MURRAY PARK

    I would point out that the D&P Report on Murray Park says there are no live charges against it – read below:

    Kelvinside Academy War Memorial Trust and The Trustees of Kelvinside Academical Club Charitable (“Kelvinside Trustees”)
    13.3 This obligation expired on 22 October 2009. The Joint Administrators with the assistance of Kelvinside Trustees have filed the appropriate documentation with Companies House to show that the security has been satisfied.

    The Scottish Sports Council (“the SSC”)
    13.4 Under the SPA, Murray Park transferred to Newco on 14 June 2012. The SSC‟s security over Murray Park has been assigned to Newco.
    Kelvinside Academy War Memorial Trust and Another (“Kelvinside Academy”)
    13.5 This obligation expired on 22 October 2009. The Joint Administrators with the assistance of Kelvinside Academy have filed the appropriate documentation with Companies House to show that the security has been satisfied.

    • Thomas

      Thanks for clearing that up.:-)

    • Duplesis

      Auchenhowie is definitely owned by The Rangers Football Club Ltd, (although at the time of the disposition of course, the company’s name was Sevco Scotland Ltd.) I checked this with the Land Register a while back.

      What appears to be one building and a thin strip of land near the entrance road (but outwith the training ground and the access road itself) were leased by the plc – why I don’t know, and I also don’t know if this lease was assgined as part of the purchase agreement. The rent is nominal (£1 p.a. “if asked”)

      RFC 2012 plc (IA) did lodge the appropriate docs (MG02S, I think) with
      companies house for both kelvinside war memorial trust securities (there is a 1999 one and a 2004 one) – they can be downloaded from companies house (I’m sad enough to have done so, although they are not on the PC I am posting from.)

  13. ecojon

    Can someone jog my memory? Is it Premier who hold title over the Albion bit of ground and does anyone know what the ‘trigger’ event is?

    Premier Property Group Limited
    13.7 It is the Joint Administrators‟ understanding that a trigger event as referred to in the security has not occurred. The Joint Administrators are therefore liaising with Premier Property Group Limited to establish their position in respect of the security.

  14. Boabie

    Another day and more obsessing about The Rangers – well I suppose when the regulatory body removes your right to practice the profession you were trained in you have to feed your family somehow.

    What better way than to set up a blog to appeal to the cabal of obsessed who spend every waking hour thinking, talking and blogging about The Rangers? It beats working at Tesco.

    Day after tedious day of obsessing and trying to out-obsess each other.

    I feel your excitement at the new share issue, most of you are beside yourselves with anticipation and trepidation.

    I sense no excitement at all from you about Celtc in the Champions League, maybe I will post you some Celtc match reports from the SPL as there wouldn’t appear to be much interest in that at the moment.

    You never know – some day someone, maybe a real lawyer, will make a post about Scots Law. Perish the thought.

    What a strange breed you all are.

    • paul c

      maybe if rangers fans were obsessed with their own club then blogs like this wouldn’t exist because fans would be demanding answers to more pertinent questions and MSM would have to respond.

      What you call obsessed I call being lied to, cheated and stolen from, I trust the so called Internet bampots more than the succulent Bambs but that’s just me.

    • Mick

      Why would a law blog mention footie it’s the legal business side mentioned here celtics is not under the global business spotlight. You don’t Pl lying after a crooked cloning of a crooked tax scam

      • ecojon

        @ mick

        why are you mentioning football in the same breath as Rangers and their overpaid clodhoppers struggling in the SFL3 against teams filled with spirit and pride in themselves and, dare I say it, winning ways 🙂

        Once Rangers, if ever, start playing football again then we can talk about them in a footballing context – till then naw. As a Celtic supporter I don’t need to dream-up fantasy Euro Super Leagues to play on my tablet I can actually watch it here in Glasggow.

        And talking of tabs I’ll need to go as the ward is full of Zombies needing medicated as they can no longer face the realities of life. Just coming Boabie 🙂

  15. dan

    Boabie? You certainly are. But we feel your pain, and understand. One question though, how do you know we’re so obsessed unless you are a regular reader of this–and other—blogs. Could you perchance be obsessed with our obsession? Answer on a mass card please.

    • ecojon

      @ dan

      quite right takes an obsesssive to spot another one 🙂

    • Boabie

      I stumbled on this obsessive blog as I was researching a legal issue – what a joke eh? Imagine expecting to find any legal issues on here.

      Anyway – why bring up religion?

      Is that another obsession of yours?

      If so wouldn’t your time be better served helping the wee starving babies in missions in Africa rather than obsessing about The Rangers?

  16. joe burt

    Some people have too much time on thier hands !!!!!!!!!!

    While some of us have jobs and contribute to society.

    Away and work or read up about mr greed.

  17. ecojon

    BOMBSHELL NEWS FLASH – OBSESSIVES SHOULD NOT READ

    Thought I would put a Health Warning on in case I upset those poor wondering Zombies with tortured souls 🙂 But this really is a MUST READ!

    http://www.thelawyer.com/withey-exits-rangers-trial-as-intervener-application-dropped/1014897.article

    • Mick

      Obsessed for ever sevco in the river

      • ecojon

        @ Mick

        No way! We’re spending a fortune trying to clean the Clyde up so that native fauna can thrive – No way! are we introducing an alien species to our wonderful waters you never know what you will catch from Zombies.

        • mick

          toxic carcass will be incinerated shortly a think greens all moonbeams and lies ever time he speaks so hes well going to be bad for them they call him mister acid as every thing he touches disolves lol

          • ecojon

            @ mick

            You know if they has spent a fraction of the effort they attempt on here then they could have dealt with Murray and Whyte and now Green.

            But they are condemned to be follower Zombies blindly following the Judas Goat.

        • Budweiser

          @ecojon

          You’ll catch a virus! google warns me that rangersmedia site could damage my computer! Seems there is a virus doing the rounds.

  18. Boabie

    Deary me the same old tired rhetoric from a desperate desparate fan base.

    Whilst we reall really appreciate your concern for the biggest club in the country – we really do, I think your concerns should be concentrated on plummeting gates and dwindling viewing figures at every SPL club.

    Have none of you got real hobbies like golf or fishing or things like that? Maybe even taking ladies out to lunch?

    It’s all Rangers Rangers Rangers with you. Have a wee look in the mirror and ask yourselves “Is this the kind of person I want to be? Obsessing day after day after day about someone else’s football club”

    Go on – ask yourselves that. Surely you must have something better to do with your time, (the editor of the blog excluded because he needs to be supervised).

    When you are sitting in your nursing home and the nurse says to you “What did you do with your life?” I’m sure she will be impressed when you tell her you devoted a considerable chunk of it to obsessing about someone elses football team.

    Go on Bhoys, try the Mirror test.

    • mick

      its day and night after day and night not day after day get it right boabie obessed till tesco is 24 7 funded by rome produced by scottish jesuits and applyied by men that do typo erorrors and cant even string a sentance together div3 is not good enogh must obsesse hard for tesco ,oh 1s its tesco we will take the wifes to it for tea and say look love we did that but until then its on here

      • Boabie

        @ mick

        “its day and night after day and night not day after day get it right boabie obessed till tesco is 24 7 funded by rome produced by scottish jesuits and applyied by men that do typo erorrors and cant even string a sentance together div3 is not good enogh must obsesse hard for tesco ,oh 1s its tesco we will take the wifes to it for tea and say look love we did that but until then its on here”

        I really don’t know where to start with that.

        Tell me you are taking drugs, alcohol or strong medication please.

        Oh and assure me you don’t have children.

    • COYBIG

      If you don’t like this site, why the fuck do you keep posting on it?

      Go on – ask yourself that. Surely you must have something better to do with your time?

    • Thomas

      Yes we are obsessed in seeing your team die, because your dead club cheated against us all.
      The SFA is riddled with Rangers/Sevco peeple and you bet ‘we’ are all organised,obsessed and happy to see Sevco dead too! Go support Airdrie/Clydebank. 😉

  19. ecojon

    As I thought he obviously know a lot about institutional care – pity the home is getting shut because the tax money got stolen and there’s no money to pay the staff wages 🙂

  20. ecojon

    @ ecojon

    And obviously with a narcissist complex going by the mirror fixation 🙂

  21. mick

    100mil and the biggest sport cheating scandal ever and longest

  22. ecojon

    @ ecojon

    Q) RU part of a desperate fan base?

    A) Yes doctor I am desperate to see Celtic playing the best in Europe at Parkhead.

    Q) Well I do have a cure for you.

    A) No doctor I’m very happy with my obsession.

    Q) It won’t hurt – all you have to do is become a Zombie and roam SFL grounds for 3 years and don’t think you can sneak-off to Transylvania to see away games as you will be barred from Euro Super Leagues for 3 years.

  23. mick

    boab wit about the mob with 5stars on there neck how do they look in the mirror

    • ecojon

      @ mick

      I’m sure they have a glint in their eye from all the stars and moonshine – chico has spotted them though and once they have paid the dosh they get to look at the wondrous works he has in store for Ibrox built out of a Panceltica meccano kit. Wi the line in patter chico has he would make a fortune writing children’s books.

    • Boabie

      Mick – promise me you will use a spell checker or stop indulging in alcohol before posting.

      Where are all the arrests?

      “Alex Thomson’s latest blog is a new low. Not only is it frighteningly inaccurate, but the motive behind writing it is dubious. I can see no reason other than demonising Rangers fans, a now depressingly familiar theme. It is a naive and ill-informed to say that one club has a problem of an “underclass” any more than another.

      It was unsurprising to see Graham Spiers jumping on the Thomson band wagon. “I have been threatened as well” he told us. Yeah, that is why you need protection when you report from Ibrox isn’t it? The really galling thing is both Thomson and Spiers go out of their way to antagonise supporters. I heard Gordon Waddell talking about Spiers on BBC Scotland radio. He spoke about how Spiers, the wee devil, was deliberately putting out tweets to wind up supporters. Another recurring theme is “I have been threatened but no police action has been taken”. We have seen it with Phil MacGiollaBhain, Donnecha DeLong of the NUJ and Alex Thomson.

      Let’s actually look at Thomson’s blog in detail. It is rhetoric that Chris Morris would be proud of. He speaks of the groups and people who have been intimidated.

      THE LAWYERS.

      Alex speaks about the furore that surrounded the original SFA findings against Rangers. I am not going to dispute that any of these gentlemen were abused or received threats and that is totally unacceptable. However, if anyone is threatened on social media and it is brought to the attention of the police, guess what they do? They advise on best practice and what to do. Not one single arrest has been made arising from these alleged threats and most importantly, as is so often the case, these gentlemen were left unmolested. This is not evidence that threats or unacceptable behaviour is prevalent in or unique to Rangers fan is it?

      This blog is about threats but, for some reason, Lord Nimmo-Smith is mentioned.

      “It has continued. In the past few weeks Scottish Law Lord and former Supreme Court Judge Lord Nimmo-Smith actually had to put out a statement pleading for his independence to be recognised as he embarks on yet another investigation of the fallen club.”

      What has continued Alex? Rangers fans questioning the impartiality of the process? Is that a threat now? Are you not getting mixed up with democracy here? Has anyone read anywhere or suggested that Lord Nimmo-Smith was threatened? Alex is grasping at straws here.

      THE FOOTBALL AUTHORITIES

      If it is Stewart Regan allegedly being threatened by Rangers fans it is worth a mention in his blog – not that there is any proof this even happened. If it is Jim Ballantyne of Airdrie and the SFL, it is not. Perhaps the abuse that members of the SFL took when some thought they were going to enter Rangers into Div 1 has slipped Thomson’s mind? Perhaps he is not aware of the campaign Celtic ran against the SFA and refs that resulted in refs being threatened with injury and death? It got so bad that the refs went on strike.

      Who perpetrated those threats? Rangers fans? It seems it is only Ally McCoist who has to act responsibly. In Thomson’s world, McCoist should be ashamed but Turnbull Hutton is a hero for saying that the SFA are corrupt, bullies and liars on the steps of Hampden. Could Hutton not be putting the SFA officials in danger by stirring up hatred?

      THE PUBLISHER

      This would be my old Twitter sparring partner, Bob Smith. Bob loves retweeting anything disparaging about Rangers and has no problem calling Rangers “Sevco” and “cheats”. I have not seen Bob retweet any threats he has received and alas, it seems Bob is another who the police don’t want to help. Anyone arrested for threatening Bob?

      “There was definitely pressure applied and there were certainly some wobbles along the way from shops and customers. But we got through and in the end people were supportive.”

      I thought there were threats? They now seem to be downgraded to “wobbles”. What pressure? I have no idea what Bob’s issue is and it seems neither does he.

      THE BOOKSELLER

      It is simply not true that the book had to be hidden away in stores. I did an article on the Rangers Standard about the truth about the book sales. In East Kilbride Waterstones, for example, the book sold 30 in its first week. It may have sold reasonably well in some Glasgow shops and if it made local charts then its prominence increased. The simple reason it was not prominently displayed is because it wasn’t a major book. The stories on twitter even included Rangers fans setting fire to books in stores. Surely no one would believe nonsense like that, would they? Oh, hold on:-

      “In at least one store copies were ripped up. In another Glasgow shop an angry individual wearing a Union Jack repeatedly entered the bookshop to scream at staff to send the offending tome back to the publishers.”

      Comedy gold. Now even if this was true, how do a couple of isolated incidents prove the case that Rangers have a particularly bad problem with its “underclass fans”? But it is not true. It is not true because if Alex had taken the time to contact individual Waterstones and WH Smith stores and contact the HQ of both businesses, like I did, he would have been told that they have no reports of staff or branch intimidation. Alex is unwilling to divulge which shop the Union Jack shouter appeared in but guess what, no arrests. Why is Alex unwilling to tell us where this occurred and when?

      THE BROADCASTERS

      Well I will leave the STV ‘colleague’ out of it for the moment except to say his idea of a low profile must be different from mine. But the rest of Alex’s comments are really stretching it:-

      “NUJ officials say currently around 25 journalists have been threatened recently for attempting to tell the truth about Rangers.”

      Well actually they don’t. Phil Mac Giolla Bhain said that he was shown a bit of paper that had the names of 25 colleagues that had been threatened by Rangers fans. That was Mac Giolla Bhain’s usual spin and was not in any way officially linked to the NUJ. He was speaking at a motion that specifically mentioned him and his book. Let me tell you that the branch of the NUJ who put up this motion were the New Media Industrial Council boasting members including MacGiollabhain and the lovely Donnecha DeLong, the Rangers and poppy hating president of the NUJ. So again Alex is intentionally misleading his readers.

      THE FOOTBALL CLUB

      This is Alex returning to the Eric Drysdale affair. Separating the two issues gives Alex another point to list. Usual hyperbole applies:-

      “The day Fife police passed on credible information from the Strathclyde force that two men has been paid to burn down Raith’s stadium is a day Mr Turnbull and Raith Rovers will remember.”

      This story was also featured in The Herald some time ago. The Herald carried the story that a plot to torch Starks Park had been foiled. I had to check I was not reading the National Enquirer. So I asked Fife police to clarify via a FOI request. What they told me was that the on-going investigation may or may not have interrupted a credible threat and Raith Rovers were not the complainant. No arrests. Of course it could be that Strathclyde Police were given malicious information but that is not going to stop Alex using it to prove his point. I mean the police are not corrupt? Oh sorry, Alex thinks they are corrupt but only when it comes to investigating a small group of journalists who say they have been threatened.

      THE NEWSPAPER

      Alex seems baffled by The Sun’s decision to pull the serialisation of the book. The simple explanation, of the author’s document hatred and Ranger’s fans mobilising to point this out, is not accepted. Despite barely being mentioned in the English press except by MacGiollabhain’s friend and fellow Republican writer, Roy Greenslade, this was apparently:

      “one of the more bizarre editorial u-turns of recent newspaper history in the UK when a Scottish Sun double-page splash promoting the author of ‘Downfall’ prior to serialising the book – suddenly became a non-serialisation”

      Again, Alex fails to mention that the double page splash feature has Mac Giolla Bhain lying in it, as he claims he does not hate Rangers. How can I say he is lying? Well, Alex told us. Here is Alex talking about MacGiollbhain in a previous blog:

      “He wishes to see Rangers FC obliterated as far as I can discern” and ”He writes about Rangers’ downfall with undisguised glee and mirth’

      Maybe the fact that Phil was shown to be a liar, and tried to do anything to paint himself as a victim who was only interested in a story of corporate failure, helped The Sun make its decision?

      “The paper denied it was bowing to threats. Yet the publisher of the book says the threat of a Hillsborough-style boycott was real and instrumental.”

      So what? We did threaten a boycott of the paper. Is Alex saying this is a sinister threat? If anyone else does it, fine. When we do it, it is menacing. If Alex would like to check he will see that some Celtic fans are threatening to boycott The Sun today because of coverage of Rangers share issue. Can we expect Alex to condemn this threat soon?

      “The difficulty here is that, whatever the paper’s reasons, in the end the mob got their way.”

      Many thousands of Rangers fans complained about Mac Giolla Bhain. We are now “the mob”. At this point Alex has completely lost the plot. It is very similar to Phil’s language and note he is now not talking about an “element”. Anyone who complained was part of “the mob”. All Rangers fans are now targeted.

      “The serialisation of a fast-selling factual book on Rangers never happened.”

      There is that myth of a best seller again.

      “They couldn’t get Turnbull Hutton, Lord Nimmo-Smith, Eric Drysdale, STV and many, many more – but many believe they did get the Scottish Sun”.

      Just read that again. How ridiculous is that? They? Get? Alex cites anecdotal nonsense and unproven accusations as justification for this assault on Rangers fans.

      In summary, this blog seems “hell-bent”, as Alex would say, in tarring Rangers fans with a sinister brush. It is devoid of any real thought or analysis. The ‘evidence’ is based almost exclusively on the ramblings of a group of about 4-5 people who are all well documented as detesting everything about Rangers.

      Thomson is doing the work of a small group of pseudo journalists who are making it their business to attack our football club. He has made no meaningful contribution to a story which deserved much more. I’ll leave the final word on Thomson’s blog to Tom English of The Scotsman – a man who often gets up the noses of Rangers fans – and who described it as “hysterical, attention-seeking nonsense”.”

      So there you are – no arrests, no evidence, no charges – just “hysterical, attention-seeking nonsense”

      NEXT

      • paul c

        if you just asked paul, you could have had your own wee guest post.

        Andy has and though I disagreed with a few parts of it, I thought it was intelligible and worth reading

  24. mick

    @alextomo have you heard any results about The tax case yet? Results out when?

    9halex thomson‏@alextomo

    @Londonsavvy due this week or week after say Ministry of Justice

    Squeeky bum time?I wonder if (S)DM has looked out his passport?

    so the paper chace is well and truely up and running

    • ecojon

      @ mick

      Well Tommo will have no better witness than Mr Charles Green himself about threats from Rangers supporters.

      What a short memory they have – poor old chico and at his age as well having to run from safe house to safe house every night trying to escape Rangers fans out to do him terrible violence.

      And these words spoken from the Great Man himself – the Dear Leader – he will be an excellent witness as to the dark side of a section of the Rangers support.

      As was Gary Withey who had to go on the run with his wife and family after being threatened with death by Rangers fans

      Not to mention the 25 members that the NUJ currently say have been threatened for writing about Rangers. I think any objective person would be able to distinguish between obsession and debate.

      The problem with boabi and his ilk is that their obsession allows no contrary viewpoint and indeed they wish to crush it with violence if they can’t cow it with intimidation.

      • mick

        even the guy in the lawyer article was bullied they are a disgrace to the nation and they know it threat after threat the fabric of our nation certianly not

      • mick

        they are nothing its only trolls with top ups for there mobys

      • mick

        totally deluded they want to strangle any1 that says there clubs new lol its a new club as well lol

      • COYBIG

        @ecojon

        So, Charles Green bought assest off of Rangers, before it died. He could have sold them on to Tesco, build houses, or anything he wanted to. But he decided to start-up a new football club. One which Rangers fans, now without a club, where free to support. Infact, he went to great lengths to make them feel at home – He named the new club The Rangers, the team play in blue tops, and he also took up the contracts of the Rangers staff who decided to join his new club, even the overpaid ‘honest jester’. Despite all of that, he still had to move from safe house, to safe house?

        Something else that happened around that time – When the Walter Smith bid was on the table, in the papers it was Walter, as per usual. But Charlie went from being called Charles Green to Green. Then, when the Walter Smith team withdrew their bid, Charlie went from being called Green, back to being called Charles Green.

        Also, Ticketus were seen as ‘bad guys’ against Rangers, by the MSM. Then, when it was announced they would be involved in TBKs bid, they were ‘good guys’ against Bill Miller and D&P. But, as you’ve probably guessed, when it was announced that Ticketus were no longer involved in TBKs bid, they became ‘bad guys’ again. Even tho, during all that time, Ticketus’ stance of wanting their money back, never changed. Weird, eh?

  25. mick

    Have the sevcoians really forgotten the pleadges of millions they made earlier this year? And didn’t they only manage to raise 500k in real money? The chance of them raising 5 million is bleak (for them) never mind 20 million.

    Unfortunately this will expose Green’s true motives once he realises there’s no easy pot of gold to be had from the sevco horde. I think a quick sell-off of assets and a sharp exit may be on the cards. I was just warming to the mentalist as well.

    • paul c

      green might get his 20 million, but it will not be through the share issue.

      I have read he plans to up the price for season tickets to £500 next season hoping to get 40,000 sold. I think the current season ticket prices on here have been described as roganos money for a blue lagoon product. So I eagerly wait to see the analogy for £500 on div2/3 depending on promotion.

      • Boabie

        “I have heard” the earth is flat.

        See – everyone can play at that game.

        “I have heard” from an impeccable source that Mr McConville is actually a Celtc supporter and not an Albion Rovers supporter.

        Why on earth would he want to hide his allegiances to Celtc?

        Well other than the obvious reasons. 😉

        • COYBIG

          @Boabie

          You’ve heard the earth is flat? Just shows what century you’re living in.

          What Paul C actually wrote was, “I have read he plans to up the price for season tickets to £500 next season hoping to get 40,000 sold”.

          And he is correct, he did read it, Charlie Green did infact say, “The real good thing is the predictability of this. We sold 36,000 season tickets at £320 average. Assuming the manager does his job and gets us promoted [we’ll sell more]. The price will be higher – let’s say we sell 40,000 season tickets next year at £500. I’ve got £20m. Tell me which high street shop can tell you with that predictability the levels of revenue”. When he was interviewed by City AM – http://www.cityam.com/latest-news/rangers-shoot-20m-junior-market-offering

          Your pathetic attempt at belittling Paul C, backfired. So why don’t you run along now, and go play your little game elsewhere.

          Before you go tho – Who cares whether Paul McConville is a Celtic fan, or a Albion Rovers fan? Well other than you, for ovbious reasons. 😉

        • paul c

          problem with that statement is the if the MSM told you the earth was flat you would believe it where as I would have read a convincing blog from Galileo proving otherwise

  26. dan

    Boabie? You definitely are. Re the wee starving babies, I regularly contribute to SCIAF–though ordinarily I wouldn’t mention it, but since you brought it up. But why are you so obsessed with us? I mean, the timing of your responses suggest your glued to this blog. And it’s not as if you’re forced to log on is it? As for myself, since my last post I’ve did some internet banking (shifting things around for tax purposes–oops! sorry for mentioning the ‘T’ word there) I’ve also tidied my workroom, and made myself some nice egg mayo in pittas for lunch. This afternoon I’ll have a wee siesta, do some work on a current project (can’t say what that is, it’s very hush hush), marinade a nice steak for dinner, then, at around five I’ll crack the first Peroni of the day, and as I sip my brew I’ll maybe check in and see what my fellow obsessives ( and you) have been chatting about. In the evening I’ll listen to a few chapters of my current audio book–it’s a James Lee Burke novel entitled ‘Rain Gods’—–he’s a writer I would highly recommend as his descriptive powers are truly remarkable. After that it’s CSI Miami/New York/ Las vegas—–although on Mondays I have been following this dreadful US series called ‘Revenge’ which is one of those shows that’s so bad, it’s good. Then it’s the news, a final check on the obsessives, and baw baws after that. Hardly the type of behaviour that cries out for psycho analysis is it now?

  27. I would like to put in a word for that nice Mr Boabie. How refreshing it is to read someone with such a fresh insight into the whole problem. Mind you I do not read any of what he says and maybe others should do the same – you’ll sleep better and the time saved could be put to better use.

    I wrote somewhere (I am getting a bit lost in all this) that Rangers might have only £10m left to build this wonder team. Only one person responded (and I am not blaming any of you) saying that I had overestimated the season ticket sales.

    Is there any one of us who has all the hard figures (Yes! Yes! I know it is fanciful) that we can base the future on. And, if no hard figures, then best guesses. £6m for wages, £22m share issue etc. If someone could blog their best shot, some of us could provide comment to firm it up. Just a thought.

    • ecojon

      @ Violet Carson

      The difficulty is that chico continuously changes what he says. However my calculation is based on a £20 million flotation being successful.

      Green has declared certain things: bar and club = £3 million. Railway station = £1 million absolute minimum as doing anything involving railways is horrenous cost-wise. Green’s 10% commission of flotation value = £3.2 million (£20 million float + £10-£12 million original investment = £32 million). Expenses of Flotation = £1.5 million. There was another £1 million but I can’t remember what it was and I’m sure neither can chico 🙂

      But that was where the £10 million came from with the remaining £10 million split between buying players and operating capital. Since players can’t be bought until 2014 I honestly believe the other £10 million will fritter away in running costs.

      And even if Ally got the whole £10 million what could he buy playerwise good enough for the SPL let alone Europe. One or two players because you have to factor in wages as well.

      There is no hard figures and I have severe doubts that even the AIM documentation will provide ‘hard’ figures. It’s all moonbeams and pie in the sky. You mention the £6 million wage bill which isn’t exactly setting the heather on fire in SFL3 so what would the bill be in the SPL or Europe. Back to a minimum of £10-£15 million minimum?

      I reckon if they manage to stagger on they will defo need something like another £30 million share issue to buy players but the longer it is before that then the more downward pressure on share price so that starts to work against things as well.

      But you can have all the figures in the world but what we don’t know is how long chico and his consortium are in for on a time basis. That’s what the $64,000 question is.

      Don’t be too hard on Boabie – I’m was having a difficult day today workwise and he has provided me with some welcome light-relief 🙂

      • thegamesabogey

        @ecojon – I know it wont be like for like, and the engineering/environmental issues ecountered will be different, but the station built at Edinburgh Business Park, cost nearly £5 million.

        • ecojon

          @ thegamesabogey

          The old station is still there but closed – even so I agree with you that £1 million is quite probably a very low estimate. The real thing about it is, in this day and age, why should the taxpayer get involved in coughing-up to pay the running costs including track for a station that will basically be used for home game fans.

          The subway is minutes away so the local community don’t need a station as far as I know although I don’t know the area that well I have to confess. But in the current economic climate it ain’t a priority.

    • mick

      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 the 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 it looks like admin in feb.if the share flops hes skint sfl killed the deal scottish football fans agianst financial doping basicly killed the cloning stone dead well done

  28. Ecojon

    You actually manage to work as well! Just kidding.

  29. Andy

    Why are some Celtic fans on here registering to buy shares in Rangers? I can see why Paul or even some of the regular guest posters may in order to get some info, but why so many trying to make false ‘registrations’,….if thats not obsessive then I dont know what is….

    Any sound minded Celtic fan knows fine well that the best football in Scotland is when Rangers and Celtic both have strong teams vying against one another for the title…I hope that one day that happens again, as it happens with all the uncertainty Im not sure it will…..

    Look at Celtics crowds, regardless if there is Europe or whatever else to pay for, they never ducked under 50,000 when they were battling with Rangers for the title…. complete and utter boredom is the worst thing that could happen to Scottish football, and it’s not that far away..

    • Andy

      Ps: with respect to alex thomson an article bereft of any facts and entirely misleading, is simply another slice of nonsense served up by the msm!! Traynor or thomson, its irrelevant, they are just playing to their target audience…so not worth getting upset about!

      • mick

        maybe its to settle the score of being cheated for 15 years via financial doping

      • ecojon

        @ Andy

        Please don’t make the mistake of comparing Traynor and Thomson as there is no contest in journalistic terms. Traynor is nothing and never has been he’s just an empty vessel. He’s a big man with his mouth at the end of a mike.

        Thomson is an investigative reporter and probably does more journalistically every month than Traynor has done in his whole career.

      • paul c

        when did channel 4 news target Celtic fans?

        Just curious as I thought they were for the whole UK (and world) providing cutting edge without political bias

    • COYBIG

      @Andy

      I would say, the reason why most of the people making the fake accounts, who are not all Celtic fans by the way, are doing so, is because they think it’s funny. Or maybe since it costs £3 per prospectus, some of them see it as a GIFRUY to Charlie, for boasting about leaving behind the millions of debt. Now, I know that The Rangers fans would absolutely not do such a thing, as to mock one of their rivals, so I can see why this is such a big shock to you that some people would. But that’s the chance you take when you put it out there, on the internet, free for anyone to sign. So maybe what you should be asking is – Why was it not set-up better?

      As far as the whole ‘When is Scottish Football at its Best?’ debate, i’m not really in a good position to comment, as for all my lifetime watching football, it has always been the way it was last season. In other words, i’m not that old. 😉

    • Ernesider

      The interest was in a battle to see who was king of the sectarian castle. Nothing whatever to do with football.

    • ecojon

      @ Andy

      They are probably doing it for the same Reasons that Bears did with previous Celtic flotations 🙂 Same difference!

      I also think that you have to be careful about ascribing Celtic attendance figures to Rangers’ absence. Personally I happen to believe a helluva lot of the Celtic support, in common with other people, are finding things tough financially.

      And as to complete and utter boredom well that is a bigger problem for Rangers supporters in SFL3 and even 1 & 2 than Celtic supporters in the SPL and, of course, Euro games.

      The real problem here is that no matter what happens with this flotation it won’t put Rangers on an even keel. There has to be probably another 1 or 2 flotations over the next 3 years or a major investor or consortium become involved and I don’t mean a group of investors that have to hide their identity.

      I still think there is a chance that Ashley could be the man I’ve always felt that and I don’t think he stand for certain elements of the support. They would get short shrift from him and the support profile would change and that could only be for the good of Scottish Football.

      But as I say I reckon there is a real risk of another Rangers collapse and if that happens they might never come back or it could take a decade. So Celtic has to look at being financially viable in a Scotland without Rangers and I have absolutely no doubt that is what the major task is at the moment in the boardroom at Parkhead.

      • Andy

        @eco

        I wasnt aware that Rangers fans had signed up to Celtics flotation, so I’ll excuse that as some form of ‘amusement’ for Celtic supporters, if the foot was on the other foot I doubt I would bother my backside but each to their own. I obviously registered an interest as a Rangers fan, which I suspect many will, but I like many I’m sure (i.e. not the ones screaming about orange tops) won’t be able to invest without first having seen some real live numbers.

        I think it is a tad naive to assume that Celtics compartively low league home gates are not down to the fact of having no competition. Competition is healthy, competition is profitable. If Celtic have a business model that works, then of course Rangers can have a business that would work, the businesses are almost identical. Good competition is what brings the crowds in, the crowds at ibrox wont last forever, they are living of continous acts of defiance, but lets say it all blows over and the club continue playing as ever and it does eventually get to be just about the football, then the crowds will drop I have no doubt of that, I think season 2 will be the toughest sale, especially at inflated prices. Celtics unrivalled dominance will be a bore and attendances will drop. Long term Celtic and Rangers need each other, anyone that denies this is being economical (Excuse the pun) with the truth. Or of course if were all happy to see the standard of football slowly deteroriate then that is something that may happen, I have a funny feeling though the joy would be short lived…..

        Ashley obviously has invested interest, albeit minimal, but invested interest nonetheless, so maybe he will be the man, and yes I agree he would be good for the club. He would stand up to the a$%holes in our ranks and we would be a better club for it, he has taken hard decisions at Newcastle opposed by most fans down there and now look at them. I for one would be delighted to see him in charge.

        Thomson latest article is pandering to the bigots on the Celtic side, its melodramtic and largely misconceiving with little facts and border line lies….hardly the work of a top investigative reporter. If he wants to see abuse, then he can ask the Daily Record for the back catalogue of hate filled abuse posted on the Traynor articles on Daily Records website…in fact it was so bad, they had to remove the option to leave comment on such articles…hardly the work of ‘just a few’. I understand that Traynor is pandering to the papers customers but is also pandering, and if you cant see that then perhaps you should remove the green tinted specs. Fergus McCann did a great job splitting up Celtics bigoted tribes, but they didnt suddenly disappear. I dont rate much of what either of them do to be honest as anything they write is almost always ruined by their personal veiled views on whatever the story is…

        • COYBIG

          @Andy

          What exactly are you comparing Celtic’s attendances to? In Scotland, Celtic have had the most people through the turnstiles this season. That’s despite the fact that the price of a ticket is double what the new club in Division 3 charge, and they’ve been bragging about their attendances all season, they even falsely claimed a ‘World Record’.

          Also, the MSM have been going wild about this new club’s attendances. So theoretically – with Celtic’s being about one-hundred thousand more – if the MSM ever find out about Celtic’s attendances, they would explode with excitment.

          Seriously tho, yes it’s not a 60,000 sell-out for every game at Celtic Park, but to assume that Celtic’s league attendances have not been affected by the current economy, along with other factors like competition etc. is, to quote yourself, a tad naive.

          Celtic have maintained good financial management and cost control over a number of years, which has been central to their ability to withstand the financial effects that the liquidation of Rangers, along with the economic downturn, might have caused. They are now operating from a position of financial and football strength that, currently, The Rangers can only dream about. Celtic have long had a stable and resilient financial platform, and an intelligent business and football strategy. They where able to grow all of these during a period where they had more flexibility than they would have if they were starting from now. That is why I don’t think it’s as simple as you saying “Ah, Celtic’s business plan works, so our’s will too”.

          Whether you think that Mike Ashley would be good at running your club or not, isn’t really the issue. The issue is, would Mike Ashley be willing to sell an English Premier League team, Newcastle, for a team in the 4th tier of Scottish Football? Because he can’t be involved in running both.

          I agree with you that the bigots on both sides are idiots, and what they say or write is disgusting. But to claim Alex Thompson is pandering to Celtic fans is naive. He’s an investigative reporter, not a sports journalist. He works for a company based in England, not Scotland. So what would he have to gain from siding with a set of fans of a Glasgow football club? The facts are there for you to read, not just in his artical, but in newspapers and on the BBC etc. Or is every media outlet pandering to Celtic fans? As far as Jim Traynor and the Daily Record comments page goes, I hope you’re not insinuating that it was only took down because of bigoted posts from Celtic fans towards Traynor. You would be absolutely deeluded to think that. And finally, just to confirm, because it looks like you think differently – Alex Thompson is not a Celtic fan, he is a Newcastle fan.

          • Andy

            @eco

            My point on Alex Thomsons post was not that he is a Celtic fan, but he knows he has an audience with the Celtic support, bourne out of his dispute with Rangers fans. I am not condoning threats of any sort, but his latest post is poor at best, and inflammatory, for the bigots of both sides. Perhaps, like Green, he is unaware of the effect his words may have in ‘stoking the fire’ shall we say….and its fair to say from what I read on daily record, the vast majority were from ‘Celtic’ fans, though I use the term ‘fan’ loosely, as proper Celtic fans would not take part in such mindless nonsense. So I should not expect facts from an investigative reporter, but just keep those for the Bbc news website…haha, unbeleivable!!

            With respect to Celtic, I 100% agree with you, they have been run excellently for a number of years now and should rightly be congratulated for doing so. However, it really is as simple, that when two businesses are so similar, then the same business model would work for both, it’s just a plain to see fact. Rangers have not had any form of proper corporate governance in my lifetime, therefore have suffered at the hands of high risk business plan after high risk business plan, which ultimately failed. But the fact is, if Celtic can operate as they do, then under proper management, then Rangers would also be able to implement a very similar model. To not accept this fact is like saying, Tesco and Asda cannot both operate successfully!

            Mike Ashley…who knows, he certainly had enough abuse from home fans to mean their would be no love lost, and perhaps he may feel he has taken Newcastle to as high a level as he can acheive, or is realistic enough to know that Rangers are far more likely to be in champions league at some point than Newcastle, I am obviously just speculating here. He doesnt seem to enter football for monetary return, see the losses he has taken at newcastle, so maybe he would see Rangers as a new project. Though, I dont really want to labour this point as, I could mention half a dozen names of potential others.

            If you had read my post in detail, you would have noted that I did say ‘long term’, for any continued growth, Celtic would need competition, and the only club capable of giving them any sort of real competition ‘long term’ is Rangers. I am not having a go at Celtics attendances (though I guess it may come across that way), but fall is bigger than PL would have expected, that is why he made the plea for ST to be renewed. Suddenly those trips across the water are less worthwhile….In my expierence at Ibrox over the past 20 years is that league game attendances were actually boosted when the team was peforming well in europe, though you seem to think I hav said that I have said the current climate has played no part…which is obviously not what I said!!, I do accept this will play some part, but a third of the ground..pull the other one. Rangers attendances are impressive considering the price being paid to watch div 3 football is almost on a par with many spl clubs, but without competition these will not last either, which is my over riding point, competition is needed if the game is to thrive again.

            • Andy

              sorry, I meant to address Coybig.

            • COYBIG

              @Andy

              I will say it again – Alex Thomson is Chief Correspondent at Channel 4 News, he doesn’t need to pander to a group of fans who support a club in Glasgow, for any reason whatsoever.

              You think his artical was inflammatory? As far as I can see, his artical was not intended to cause anger or hate, rather to highlight the actions of a group of people, and how it has been reported by the Scottish MSM.

              To claim that Charles Green doesn’t know what he means, when he makes his idiotic statements. That is almost as idiotic as his statements.

              As for the Daily Record comments page, I am not an avid viewer of it, but I have heard and read, it was because of bigoted fans on both sides, so to try and claim some moral highground on that, is a little shallow.

              “So I should not expect facts from an investigative reporter, but just keep those for the Bbc news website…haha, unbeleivable!!”

              I ‘think’ I understand what that means – I did not say you should not expect facts from an investigative reporter. What I said was, most of the claims in Alex Thomson’s artical are backed up by the fact that they have been reported on in nearly every media outlet. So to claim the artical as rubbish would be, “…haha, unbelievable!!”.

              Celtic and The Rangers are similar, to the extent that they are both football clubs. And yes, The Rangers can opperate under a simular business model as Celtic, but to think The Rangers can just easily replicate, what it has took Celtic a great number of years to achieve, shows naivity in regards to the current economy. The amount of flexibility Celtic had to grow their business plan, isn’t their anymore. The Rangers are basically starting from scratch, and the current economy means they have little to no room for any flexibility, to achieve the same level of financial strength Celtic currently have. Not forgetting the fact that Celtic’s turnover was, on average, £20m more than Rangers, at a time when Rangers, to put it politely, didn’t pay the full amount for things.

              Tesco and Asda do opperate successfully, but Tesco are still an absolute giant compared to Asda.

              Mike Ashley currently runs a club that’s in the league with the most revenue streams that could be avalible to him. And he runs Newcastle in a somewhat prudednt way, so where you get your information that he doesn’t, I don’t know. Would he want to leave all that exposure etc. behind, to buy a club currently in the 4th tier of Scottish Football, that would need to have money thrown at it, to be able to challenge for the SPL, never mind any European competitions (which they’re not allowed into for 4 seasons). I’m not saying it won’t happen, but I personally can’t see it happening.

              Sorry, but I have no clue what you mean by this – “I do accept this will play some part, but a third of the ground..pull the other one.”

              Everyone knows competition is needed in Scottish Football, I did not dispute that. And, as I have said before, The Rangers attendances this season have been great.

              The point I was making, is Celtic fans are paying on average, 50% more for tickets than The Rangers fans, and have still had about 100,000 more people at Celtic Park this season, than there has been at Ibrox. Also, Celtic have sold more season tickes than The Rangers this season, again, despite the fact Celtic’s cost on average, 50% more. So, with the facts laid out, and bearing the current economy in mind, I think you’re overplaying the ‘Celtic’s attendances are down’ card.

        • ecojon

          @ Andy

          I had the fascinating insight to watch the hatching of the Dalek ‘plot’ unfold on one of the Rangers fan sites. To be fair I am not blaming the site just a few twisted posters. And I will say that a lot of Rangers posters took the same view as I did that it was a fabrication. Plenty of others said they had never heard the term used in their life although a few said they thought the term might have been used against Celtic fans in the 60/70s as a term of abuse.

          I have actively supported Celtic since I was 11 and I have never heard the term used and if I had ever heard it used in the context now being alleged then I can assure you I would have confronted anyone using it and also raised the issue directly with Celtic. I have really searched my memory over this one especially since some of the older Bears mentioned it and I vaguely seem to remember chants of Exterminate, Exterminate a helluva long time ago. But I don’t know who was chanting, can’t remember when although I can only assume, if it happened, that it was connected to the Dr Who Dalek catchphrase. One thing I do know is that if there was any connection to the disaster then I would have remembered and acted.

          The Daily Record football comments section was a cesspit which I didn’t read and it suited the paper as they got advertising clicks and it suited sports writers who wave angry letters, emails, tweets, comment section and everything else as a badge of honour proving their success at rousing fans and therefore their right to a wage rise.

          The vast majority of them are scum with a few honourable exceptions. As to investigative reporters they are a breed apart from even good news reporters and are often subject to all sorts of jealousy and barbs from colleagues, never mind football fans. And on TV some punters would kill for air time so it is very difficult to judge Thomson in the round and, like everyone else, I can only judge from what I see on camera and I am impressed – not with any of his football stuff as I already know it all at a personal level – know I judge him on his other stuff. Of course when blinded by an obsession it makes it difficult to an objective decision on the other things he does. If he isn’t any good he’ll be replaced as it’s a hard game. But the one similarity with sports journos is that his bosses will believe that the fact he raises so much aggro means he must be doing a good job. That’s the reality and the protestors have failed to recognise that and never more so with Phil’s book where the boycott ensures it was bought and read by a huge audience who would never ever had known about the Scottish Problem which is now as well known as the Scottish Play 🙂

          Talking about business models in football – I well remember when the Celtic business model was it was better to come second in the League as there wasn’t really in difference in the cash between first and second place (pre-TV of course). So let Rangers spend a fortune on players and we would spend just enough to ensure 2nd slot and save a fortune.

          But Rangers under chico do not seem to be following the Celtic business model – unless he is just feeding the World Domination hunger of some fans and his claims are all hot-air. I don’t know as the only person that knows is the man with the money behind chico. That’s the problem for Rangers – it doesn’t actually matter a fig what chico says as he is not the guy with the cash and is there to do as he is told.

          But I am very patient and have learnt that it all comes out in the wash eventually – I am certain Celtic will be hatching plans very quietly and when they are revealed to the public the deal will already have been done behind the scenes and it will blow minds and I don’t think you will need to worry about the level of competition we are playing as it will delight the Parkhead Faithful.

          Do I have any hint of them? Nope. I just know the calibre of the people running Celtic and I know they are not only BIG thinkers but capable of turning ideas into action unlike some snake oil peddlers.

          • Andy

            @eco

            Fair point on thomson, I have to hold my hands up and say I have read little of his stuff outside of football, for which in his defense, has probably came up against critiscm and personal attacks, like never before in relation to the actual work he has done. I don’t think articles like the latest one will do his reputation much good at all IMHO.

            True, the actual powerbrokers at ibrox still remain a relative mystery, although Im sure some digging could find them, the fact that Green is just a spokesperson is concerning….okay obviously PL does most of the talking at Celtic which is fine from Green as well as they are the CEO, but at least at Parkhead everyone knows who DD is.

            I assume, maybe incorrectly that all this information will be in the prospectus…but I am beginning to think I may be expecting too much information to be in the prospectus…we shall see.

            Yes, Celtic board didnt seem to mind coming second as it was a long term project, and in fairness it is paying off at the moment (see champ league performances)…But and there is always a but, Celtic were part of a highly competitive battle in the league that was constantly going to the wire, it was exciting, the ups and downs, the pain to the unbridled joy are what fans bought tickets for….It’s an entertainment sport, and yes whilst there are a loyal few that will always go regardless, many will just switch off and go do something else…there is so much other things to do these days with great places like Xscape etc, that football has to work a lot harder to get people in, people have to enjoy each match day now, and to do that, you need the buzz of competition. Gone are the days when father and son went to football, whilst mother and daughter went shopping….If football is not entertaining then people will turn off, and what makes it entertaining, well first off is the quality of play and second is the thrill of the chase, all know this to be true.

            Celtic board are intelligent people, DD has in as many words said, he cant wait for Rangers to be back….whether gets that wish remains to be seen of course….. Should Rangers struggle linger on into oblivion, do they have a masterplan to keep the sport entertaining and competitive with dwindling resources…that would be remarkable feat. Please note that I am not advocating that Celtic NEED Rangers to exist, but what I am saying that in the LONG TERM, they do need Rangers to thrive. Next year it is 3 champions league qualifiers, and with all other scottish teams dragging down the co-efficent, Celtic are left carrying the can themselves which of course they cannot do forever. Other clubs need to make their mark, but sadly that looks unlikely, so Celtic even if they do qualify will have resources that dwarf their closest competition by tenfold more than whatever Rangers used to….so the league becomes a pointless competition with only one winner possible….it will get boring.

            Lets hope Green doesnt kill of Rangers and with it the long term prosperity and potential for the Scottish game. Scottish football would survive without Rangers, but I highly doubt it would thrive.

  30. mick

    sevco are doomed the season ticket money is not enogh to cover cost the share issue is doomed to fail no spl doomed them they thought scotland would let them swagger in to spl after liquidation and dropping 100mil of debt and 10 years of cheating its over for them on a level playing field they cant even dominate div 3 there finished as a big fish in the pound

  31. mick

    Charles Green and his 500 million fans. Those fans who he claims will PAY to watch Rangers games via a smartphone, all over the world. The key to Rangers future off the radar wealth is based on this and other similar staggering claims from the increasingly comical figure from Yorkshire

    Now we all know Green is exhibiting strong signs of desperation. Only a desperate man would make the claims he makes. A confident man, with a viable plan, and sufficient liquidity to see him through the next 3 years, would say little now the season books are in the bag. However a desperate man will overhype ,oversell and over exaggerate every position in an attempt to convince the gullible

    Lets look at where Green is just now, and where he stands in relation to his previous claims.

    Investors

    One investor of note, in Dubai, who has committed £2 million. The rest are a collection of unknowns or individuals with as much visible wealth as Craig Whyte. It’s not an impressive list, and its defined by a lack of Scottish investors. The Rangers supporters of substance who know as well as anyone how much of a challenge their club faces have voted against Green with their wallets

    Advisors

    Zeus Capital are very much Z list. Whilst nobody expected Goldman Sachs or JP Morgan, Zeus really are scraping the barrel. Founded in 2002, they liquidated in 2009 and reformed after a series of name changes, ending up with their original name. Their turnover is a paltry £1.6 million and they have made losses on 3 out of the 4 years they reported. The profitable year showed they made £10,000 ( or one days wages for a decent EPL player)

    Board

    Malcolm Murray has had a decent career and is a cut above anything else on the board, however he is non exec and won’t be running the business. Greens track record is less than stellar. He claims to have floated 30 companies, although there is no evidence to support that claim . What there is evidence a plenty of however, is involvement with a large number of failed business’. What there isn’t is evidence of success. The other 2 directors are Imran Ahmad and Brian Stockbridge. I have checked on both of these guys and can find no other business where they were appointed as Directors. In fact Equifax are quite explicit in that they have never been a director of any UK company. Rookies by definition have no track record and Rangers is not the gig for a rookie, as the evidence of the team shows.

    So based on Investors and advisors and the board there has to be huge question marks over Green . It is therefore best to turn to what he has achieved and to look at his promises to date.

    CVA
    Well he didn’t guarantee the CVA would be accepted, but he told anyone who would listen that he was very confident it would be. In fact he went further , he said he had been told verbally it was , and was just waiting for a letter from HMRC to confirm. I think we can take it now that this was either an outright lie or he is a an who doesn’t understand what he is being told.

    Playing staff
    Tom English reminded us that Green claimed to have 19 players lined up, 5 of whom were playing at Euro 2012. Not only did he fail to deliver a single player who was at Euro 2012, he only delivered 40% of the number he wanted and his manager was desperate for.

    SPL entry
    Green was desperate or this and told anyone who would listen that the SPL needed Rangers and commercial contracts would not be honored without Rangers. Green told potential investors he was very confident that SPL entry would be confirmed with sanctions which had minimal financial impact on Rangers

    SFL entry

    Having been made to look foolish over SPL entry you would think Green would have learned the lesson, however he and his media attack dogs such as Traynor and Young continued to offend the very people who held Rangers future in their hands. Threats and intimidation of Armageddon had no effect, and Green’s arrogance and condescending attitude contributed to the decision to allow Rangers entry only at the very bottom of the SFL . The Blue Knights financial plans always envisioned an SFL 3 start, however Green did not and reacted predictably by appealing to the worst element of his fan base.

    Having failed miserably on the CVA , Squad recruitment and League entry it’s wise to be highly skeptical about Greens other claims. These claims are so many in number and wild in their nature it would take a mini series just to dissect them. However I want to return to the claim of 500 million paying subscribers for Rangers games

    500 million paying subscribers

    Lets look at the key elements of this claim .

    That’s 7% of the worlds population. However crucially 32% of the world is under 18 and 6% is over 75. That means that Greens 500 million is actually 13% of the population in the age groups with economic decision making

    However Rangers are almost completely unknown in Africa and Asia, so using the demographics of Europe , North America and Oceania , Green expects over 40% of these people to pay to watch his club. When you factor in the age groups he is claiming that over 7 out of every 10 men and women in these continents will pay to watch Rangers

    That is itself is so grossly overstated , it should make any statement he makes subject to scepticism . To make statements like this in the pursuit of cash from a financially unsophisticated audience is both shameless and shameful

    To put his claim into context it is best to compare the worlds most successful leagues and their record in this area.

    The NFL have a contract with Verizon , the mobile company, to provide exclusive live coverage. Verizon initially provided this free to subscribers, however now change $5 per month to watch this. Verizon’s total subscriber base is 102 million and of these approximately 14 million pay for the NFL service. That’s to watch every single team in the league. Every single one of these 32 teams is bigger than Rangers

    The smallest team by revenue in the NFL is the Jacksonville Jaguars with annual revenue of $239 million or 3 times the size of Rangers

    That puts Greens nonsense into perspective . He is claiming that he can sell to 35 times as many subscribers as the entire NFL. Baseball has even less subscribers than the NFL. Green claims he has been in discussion on Wall St regarding investors . I seriously doubt that claim, however if he did manage to get in front of anyone to make his pitch, then the certainty is he would be told he is certifiable, delusional and in serious need of a reality check

    It’s not a pretty picture for Rangers fans . They are being asked to buy into a man who has failed time after time, has not delivered any key objectives so far and makes claims of a future which is a figment of his imagination

    They should trust their initial instincts that he was a charlatan. We as Celtic supporters should hope he remains, because as long as he is there it prevents the credible and capable from taking over

    • ecojon

      @ mick

      I must doff my cap to you Sir – what an excellent read and beautifully structured to bring excellent clarity. In one way it was a pleasure to read and in another scary because it clearly identifies what is in store for Rangers and the rest of Scottish Football will also suffer to some extent from the collapse.

      • ecojon

        @ mick

        Btw you forgot about the 9 Newcastle loan players btw 🙂

        • mick

          @ecojon that was a copy and pastie from barcabhoy 1 of the top commenters online his work is well spot on and his predictions are to so its going to go on for a while yet maybe regan and doncaster and ogilvie should shout green in and make him sell to blue knights thats if they can be bothered after the way they were treated its really bad for sevco

          • mick

            did you not notice no typo mistakes lol

            • ecojon

              @ mick

              Don’t know if I can handle a no-typo punctuated mick 🙂

              Oh I’m sure it will be a while and I’m also convinced that after the next collapse is when the Blue Knights will return. I keep wondering though whether there will be any assets left by then. That’s the worry from a Rangers perspective.

        • mick

          zeus are well cowboys in suits

  32. COYBIG

    Charles Green said that he will underwrite any shortfall of the share issue. The following types of underwriting contracts are most common:

    1) FIRM COMMITMENT CONTRACT: In the firm commitment contract the underwriter guarantees the sale of the issued stock at the agreed-upon price. For the issuer, it is the safest but the most expensive type of the contracts, since the underwriter takes the risk of sale.

    2) BEST EFFORTS CONTRACT: In the best efforts contract the underwriter agrees to sell as many shares as possible at the agreed-upon price.

    3) ALL-OR-NOTHING CONTRACT: Under the all-or-none contract the underwriter agrees either to sell the entire offering or to cancel the deal.

    To me tho, this looks most like Charlie’s situation:

    Stand-by underwriting, also known as strict underwriting or old-fashioned underwriting is a form of stock insurance: the issuer contracts the underwriter for the latter to purchase the shares the issuer failed to sell under stockholders’ subscription and applications.

    So a few questions:
    As the issuer is The Rangers, would Charles Green have to act as underwriter for a diferent entity? Or can he act as underwriter on behalf of The Rangers? Which would mean The Rangers would have a contract with The Rangers, for them to cover themselves for any shortfall of the share issue?

    Or am I just being daft here, in thinking that the rules will be followed?

    • ecojon

      @ Coybig

      Not sure how this fits in but chico stated on Thursday that there would be no underwriter for the flotation as that would cost 3% of the capital raised in commission. He went on to say that is why he guaranteed to buy any unsold shares. I genuinely don’t believe that chico is particularly wealthy so I reckon that means someone else would have to pick-up the tab.

      The money man that he has been associated with since he started in this game is Mike MacDonald of Texas Group or Holdings who has also been heavily involved in property development throughout his business career.

      So it may be that if the float fails then chico uses cash from someone close to buy-up the shares to control the company and who knows what will then happen but I would feel developing the site might be the best profitable exit for a developer.

      That’s not to say Rangers would disappear as part of the salve would be to ensure they had a stadium share somewhere. But in essence the line would be we tried and failed because the Rangers fans didn’t pony up the cash and the SFA, SPL, Scottish Government, HMRC, BDO, Legal System & Uncle Tom Cobley and all were all plotting against us.

  33. COYBIG

    @ecojon

    Green has said he will pick up any shortfall, aka he will be the underwriter.

    An underwriter has to sign a contract. Which potential investors should be made aware of, in the Prospectus. If there’s no notification of Green picking up any potentially shortfall, then it’s most likely he wont. And his statement would be seen as false reassurance to any potential investors. Therefore, making ‘big’ investors less inclined to part with their money.

    So, in a roundabout way, what i’m trying to say is – By Green officially stating that he will pick up any shortfall, he will only make himself look like what some people already think he is, if he fails to follow it throught and make it legally binding.

    • ecojon

      @ Coybig

      I am sure that there are many about who are taking a careful note of chico’s public utterances, especially since the flotation was announced, and will be checking these against the prospectus information.

      I wonder what they will do if there are serious discrepancies 🙂

    • ecojon

      @ mick

      It’s a good piece but there are certain flaws which have to be addressed. The shareholders are only locked in for a year, in my understanding, if they hold 10% or more of the shareholding.

      Obviously no fan will be in that position and savvy investors will be aware of the ‘lock’ and if any wanted more than 10% they could arrange this using different legal entities.

      So we are back to the 19 original shareholders who hold 22 million shares at the moment, according to chico. It can be deduced that 1 investor has 2 million shares from various statements although this could be wrong or misleading.

      That would leave 18 investors with 20 million shares and assuming each has an identical holding, though again this might not be the case, each would have 1,111,111 shares. So the ‘lock’ wouldn’t apply as for it to operate a shareholder would need to hold 2 million shares.

      And you have to remember that there is still the 20 million shares to be floated and even if it bombs it can only dilute the percentage held by the original investors further below the critical 10% mark.

      As to BDO I don’t believe there is the slightest chance that the asset sale will be overturned. What might happen is that Hector decides that D&P could have got a better price and threatens or goes down the legal route with D&P whose insureres will come to a settlement with HMRC to prevent horrendous legal costs. HMRC don’t care whether chico got a bargain or not – their role is to ensure the best possible deal for creditors, with the least expense, and by my reckoning that means doing an out-of-court deal with D&P if they conclude the deal was flawed and have the necessary evidence to at least threaten court proceedings.

      And the regulation of the AIM Market isn’t down to the market but to the NOMAD ( Nominated Advisor) who is chosen and paid by the applicant floating a company. That is why AIM is such a joke and a dangerous place where innocents lose their dosh every day of the week with various market practices that even highly intelligent people could never get their head round in a million years. It’s also the reason that the AIM market is referred to as a ‘Casino’ because it is a gamble, a BIG gamble for the unwary who don’t know how it operates.

  34. lordmac

    looks like zeus capital was once known as BROOMCO no 03955482
    also zeuss no 05999010
    also no oc323124

  35. ecojon

    @ lordmac

    I wonder if ‘oc’ denotes overseas company?

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