Charles Green’s Last Hurrah for the Rangers Share Issue

There is some interesting phraseology here. (I have put on my “Ibroxologist” hat here). My comments are in bold.

From the official Rangers website:-

CHARLES GREEN, chief executive of Rangers, last night released the following statement.

He said: “I am delighted we have been able to fulfil our promise to give fans the opportunity to once again hold shares in the club as that has been our stated aim from the beginning.

Two things – he has fulfilled his promise to give fans the “opportunity” to hold shares. I am sure he is not being negative about share take up, as all the comments from official and unofficial Ibrox mouthpieces has emphasised the fantastic numbers of shares in which interest has been expressed. But the sentence almost has the unspoken addition of “we gave them the chance but they did not take it”. I am sure that is incorrect on my part.

Secondly, the shares are not shares IN THE CLUB. They are shares in the holding company which will own 100% of the company which owns the assets which make up the club. This is a perfectly normal and legitimate structure for a football team. However, if we are looking for precision of language, what is being sold is NOT a share in the club.

 

“Since the 140th anniversary game, the club has been inundated with best wishes from all over the world and the support that this club has received since I came to Ibrox has been outstanding and humbling for someone who had no previous connection to the club.

Sadly fans from around the world, for all their good wishes, are not entitled to buy shares in this IPO, for legal reasons. I understand that some Rangers fansites have been suggesting ways for Rangers fans overseas to get round the deprivation of the opportunity to invest in the deal. I am sure that Rangers would not countenance anyone seeking to circumvent the rules applicable to share trading.

 

“Many fans lost their shareholding in the club previously and, I said from the start, no one person would again have control of Rangers.

Maybe a gesture could have been made to allow such former shareholders a share in the new company? If he is seeking to encourage these fans to re-invest, then is it wise to remind them that they lost their investments before?

And, as the shares are going to be publicly traded, how is Mr Green going to prevent someone acquiring total control, if they have enough money to buy the necessary shares?

As the proposed share structure would leave the fans, even if they take up all of the shares allotted to them, in a minority, he cannot rely on them refusing en bloc to sell to a predator, can he?

This is not like a privatisation of assets, where the Government retains a Golden Share to block a takeover. If the shares are traded on the open market, especially with institutional investors and business people owning the majority, there would undoubtedly be a price at which they would sell up.

 

“We said the fans would have the chance to be part of the club’s future and they have until 1pm tomorrow when the offer to the public closes.

As I type, the deadline is under an hour away – so roll up, roll up!

Of course the fans would be able to buy shares on the AIM when the company is listed tomorrow, according to the planned schedule. They would still own a part of the holding company which owns … etc etc. The only difference is that the payment would not benefit Rangers, but the seller.

The price might shoot up when the shares start trading, in which case get in now at a low price. However the price could fall, and if the interest was in owning a “piece of the club” then that would be the time to buy. If the interest is in funding the company, then buy before 1pm!

 

“Ally McCoist, myself, Walter Smith and the rest of the board are pleased that we have been able to reach this stage in the process and give the fans the opportunity they deserve to own a stake in the club that means so much to them.

“Opportunity” again. Is he pessimistic about the share issue? I am sure he is not – after all, all the publicity suggested the issue would be over-subscribed.

 

“This is a key moment in the rebuilding of Rangers and we are determined to get the club back to where it belongs and also prepare it well for the long-term challenges it will face as a great sporting institution.”

And who can disagree with him on that?

We will find out soon enough the extent of the issue’s success, which will, I am sure, shock many.

Posted by Paul McConville

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195 Comments

Filed under Charles Green, Rangers, Rangers Share Offer

195 responses to “Charles Green’s Last Hurrah for the Rangers Share Issue

  1. Proud Scot

    Paul – correct me if I am wrong and I do recognise your greater knowledge of the law but if I am correct……
    Rangers FC became Rangers FC Ltd to protect the players from personal liability. This did not create holding company.
    The Ltd Co. became a PLC to float on the stock market. This did not create a holding company, merely a method of complying with financial rules.

    The only possible comparison in the business world that I can think of would be changing the name of the company such as if you changed Marks and Spencers to M&S or British Petrolium to BP – same companies (but of course there is no administration or liquidation involved here)
    Surely Liquidation means – well exactly that. Green bought the assets not the club and he has stated that so The Rangers is a new club not linked to RFC, RFC LTD or RFC PLC ( except by sale of assets of course !)

  2. tamtic

    Nearly pissed myself laughing when Broadfoot talked about a statue for Ally. God almighty! The statue would be a better player than Kirk.

  3. cam

    Just heard on Clyde £22.2 mill raised,,,£5mill by fans.
    Sorry to hear Darrell King is leaving,,thought he was quite fair in his reports.

    • mick

      cam it was 2mil yesterday 750,000 last friday then 5 mil the day 3mil overnight its msm spin the bdo bill and spl set up in div3 is going to cripple sevco its a failed share float and admin 2 is the general feel online all over the country who are these business investors dont forget its ten mil to remove the asbestos before upgrades can take place also its cenkos bill for float its game over

    • mick

      Darrell King lamb eatter with jabba

    • ecojon

      @ cam

      I’m surprised at the figure going up from around £2 million this morning to £5 million this afternoon 🙂 I have always said that I thought £5-£6 million would be a great effort but it would more likely be £3-£4 million so if the figs are correct then it’s a well done to Rangers supporters and I genuinely mean that.

      However, success depends on the net amount raised and £2.5 million flotation cost is immediately deducted so that leaves £22.2 – £2.5 = £19.7 million. Now the share price over the next few months becomes critical.

      If it plummets then it will damage the prospect of another flotation by Bears or investors. If it goes up then what happen depends on how high it goes. Too high and the institutions won’t be interested in buying,

      The £19.7 million might be enough to do what he has stated in the Prospectus and also provide operational capital to keep things running to the next ST sale but I think it will be tight with not a lot of room for manoeuvre.

      But if it was going to be plain sailing where would all the excitement be 🙂

    • Cam
      This is now a Celtic site – look at the TU’s as opposed to the TD’s on every post except yours. They have now got rid of every dissenting and reasonable voice except yours. Stay/don’t stay, but you are now a voice alone. I wish you well.

      • Steven brennan

        Violet
        What store anyone gives the thumbs is pointless,
        It appears to have a mind of its own. I would agree that the majority of people on this site are and always have been east end types but you and cam and even Adam have been welcomed.
        Also must admit that the quality has suffered in last couple of weeks, dont give up just yet

      • Den

        Violet’

        You are back !

        Or are you leaving again ?

        Either way, will look for your post tomorrow.

      • @Violet

        Whatever happened to “I won’t be posting on this site again”?

      • Budweiser

        Violet
        ‘This is now a Celtic site’
        EVERY spl club gave rangers a TD In the summer , including your own. Therefore it is not unreasonable to find that at least 11 to 1 comments are anti- rangers. Quite a lot of the comments ARE wishful thinking from celtic fans, and some pinches of salt [sometimes handfuls] are required, but it’s mostly good fun and if it goes beyond that, then you can post and say ‘hey ,wait a minute—‘ and refute or whatever.
        Andy,adam, cam [your whyte knight] carson etc can give a good account of themselves and they do so and the site would be the less if they did not contribute.They may be in the minority, but their contributions, are no less valid for that.
        I agree/disagree with their views,and formulate/change my own views in response.
        When you first came on site you were a breath of fresh air-not only as one of the only female contributors, but a hearts fan.ie not ‘old firm’.
        Somehow, someways, you got involved in a dispute with ecojon. At first you ‘lurved’ him then he didn’t pay you enough attention. He ignored you.
        From thence it has been like- ‘he’s guid me a dizzy’ – al mak im suffur.

        Your allegiance to alex does nobody any favours-please grow up and be a big girl. If not au revoire.

      • mick

        goodmorning violet your input has been missed over the last couple of days tu and td does not mean or prove what fans they are although am a celtic fan a do hope you stay on as you were part of the blog and added well also its not fair to leave cam hes been supportive to you and adam and is well enbedded here and repected just like your self and adam cam has beem here for a long time and so have you so for my xmas a would like yous to stay on and put us stright on anything you think is wrong

      • JohnBhoy

        Violet, stop stomping around outside and just ring the bell. To show our love and non-partisanship can all hold hands and sing a Christmas carol. “I’m dreaming of a Whyte Christmas, may all…”

      • cam

        I have work to do Violet,i’m a modern day missionary sent by God and his assistant Mr Struth to walk amongst these poor misguided creatures and show them the error of their ways.
        The thumbs war is irrelevant,a Panzer tank doesn’t look at the ants faces as it rolls onwards to victory.
        I can never be truly alone as my multiple personalities keep me company and the voices in my big thick blue napper, egg me on to greater glory.
        Take a break and them come back with your insight,don’t get involved in the squabbles and use logic as your weapon of choice.

      • There’s a new word we should add to the lexicon of web community “whataflouncery” where a poster takes umbrage (real or imagined) and flounces off in a fit of pique with the words “I’ll never post where I’m not appreciated “, or similar, only to return and post as if nothing happened. Repeat to fade.

        Here’s a thought – why don’t we just give “thumbs up” to posters we don’t agree with in order to keep the site broad-based. The argument from both sides is that TUs and TDs are given for dogmatic reasons rather than based on the post itself. I personally will be giving TUs to posters I deem interesting or indeed deluded regardless of the p1sh they post in order to keep them on the site. I may or may not tell them it was my thumbs up.

      • riddrie

        Reasonable voice?

        My experience with Rangers fans posts all over the internet is that they have been full of obfuscation and whataboutery.

        Very seldom is any intelligent debate attempted regarding anything to do with what has happened to Rangers.

        Every effort is made though do deflect and divert any such debate.

  4. lord mac

    i can see the share price being 34p-40p giving a lost of £220- £262
    from there £500 share issue and Mr Green getting and doubling his money.

    • mick

      @lordmac would that take affect tomorrow or in future???

      • lord mac

        thats where they will be at, come the end of trading tomorow then its cant sell for the rangers fans just have to keep, not unless there is some switch e roo from outside buyers, and name changes to exsisting share holders the investers get there double money of £11 million and rangers have new owners again, if the investers have there name to the shares
        then it will be ok, but should there be a transfer there could be a problem

  5. lol….lol …. the angst ridden let their masks slip tonight, what a doing King gave them, like shootin’ fish in barrel King played a blinder……….lol

  6. JohnBhoy

    £10 million worth of shares were set aside for fans. 50% of those shares remain unsold. Charlie said at the outset that he would personally cover any shortfall. Charlie are you there?

    • mick

      hi john hes snookered now greens moonbeams failed its only a matter of time before its admin2

      • JohnBhoy

        He roared and changed shape at will. He created Narnia. They came from miles to witness the miracle and sang at his feet. They hailed him as Aslan the one true Great Lion. But Charlie turned out to be a Puddy Tat.

    • ecojon

      @JohnBhoy

      I am sure a home could be found for them at a penny a time 🙂

    • lord mac

      he will have to buy when they start to trade, thats the bit he will no like as its all down hill from there 5milion shares at 34p at least lot of money to throw away never to be seen again so he might have to sell some of the ones he owns to pay for them at loss of 33p per share he held. so for the ones he got for a penny now will cost 34p .

  7. mick

    wouldent it be nice to be a fly on the wall of the board room a bet green is gutted

  8. mick

    what will he say yous dident by your shares when yous had the chance my backers want there money back its tesco time lol

  9. COYBIG

    Can someone please tell me if this is the full list of Institutional Investors that bought shares in Rangers International?:

    Hargreave Hale Limited.
    Artemis Investment Managment LLP.
    Cazenove Capital Management Limited.
    Legal & General Investment Managment Limited.

    • mick

      that list was on kds earlier coybig a think that is a lie by green to bump it up we will find out soon enogh when the admin2 starts via creditor reports lol

      • lord mac

        they are all the companies that are linked to octopus

        • COYBIG

          OK. But the reason I ask if that’s the full list is because their shares don’t add up to £17m:

          Hargreave Hale Limited: 4,949,000 shares.
          Artemis Investment Managment LLP: 4,286,000 shares.
          Cazenove Capital Management Limited: 2,450,000 shares.
          Legal & General Investment Managment Limited: 2,000,000 shares.
          Total = 13,685,000 shares.

          13,685,000 shares priced at 70p each = £9,579,500.00

          • ecojon

            @ Coybig

            Usually the only ones listed are those above a 3% shareholding – I’m sure £17 million is what was going to be raised if the Placing was 100% completed.

            Basically he can live with $5 million down whether he’s going or staying. He only needed £10 million new investment to keep his 5 million 1p shares and for the flotation to be accepted by AIM Market and that’s been achieved.

            If he’s leaving he needs to be able to get out of hi lock-in – if he’s staying then no probs.

            • ecojon

              @ Coybig

              But don’t forget about the shares held by the original investors – they will need to show on Aim as they were on a 1 for 1 swap with the tens of million of TRFCL shares.

            • Budweiser

              ecojon
              ‘If he’s leaving he needs to be able to get out of hi lock-in’
              Remember it’s xmas! I’m sure there will be some sort of get-out clause! Usually called a Sanity Clause!

            • GWG

              @ecojon
              think you may find that Mr Charles is in poor health and will urgently require rest and recuperation in the British Virgin Islands

  10. mick

    the nets rocking tonight with it all

  11. Jason

    Hard to believe that legal and general have taken a punt on this. immediate sell i suspect to gain an institutional return. shares to be worthless within 2 shakes of a succulent lambs tail. Incidentally, 19m isn’t much when you take away the spivs cut (?), player investment, increased wage costs, refurbishment and new pie stands. of course we could be wrong so lets wait and see what the actual documents say later this week.

  12. lord mac

    cenkos will have to be paid there fee about £1.1, and they are also in for 5% of the sale.
    you wouldn’t want to hear from them if you where a RANGERS supporter
    if the took you to court for none payment.

  13. Budweiser

    chico and the original investors have done what they said they would do. They wont be disappointed with the result. All they have to do now is get the swag away. I am sure an exit strategy has been well prepared. Long term is a relative concept. The Loan Ranger rides into the sunset.

  14. Budweiser

    Hi YO SILVER—-AWAY!

  15. What a total banger gerry is ….even used Mr McConville as a reference absolutely obsessed with The Rangers, King was playing with him and then threw him back, even before delarunt saved his fellow selik fhan from an even worse mauling by cutting him off, absolute going over and under for the ranting gerry…

  16. lord mac

    when charlie said he will buy up the short fall he cant back out of that
    and i cant see any one wanting to buy them from him, as the profit will be gone for investers, and should some rangers fans buy them for hand me downs well its there choice, but it will be at 34p or less giving them twice the amount for there share agaist the share issued to the first rangers buyers, who paid £500 en bloc

  17. GWG

    Rangers International~~~~ Want African Title!!
    ya see…. Chuckles collects histories

    http://www.vanguardngr.com/2012/12/we-won-the-premier-league-rangers-claim/

  18. lord mac

    to add to Rangers wage bill, Dorin Goian is returning and he cant be refused
    as charlie is fighting the cases of the ones that left, well he cant refuse the ones that want to return can He lol

  19. Joe

    I can’t see Chuckles leaving after all he has full blown Rangersitis a condition that seems to be terminal. Still a big round of applause to the rangers fans. They said they would never support a newco and judging by todays numbers they stuck to their word so good for them for hanging on to their priciples. It’s just a shame their 500 billion fans worldwide didn’t get a chance to invest. Maybe a few exhibition matches abroad against well known american teams who love newco like a brother like the dallas cowboys or the new york yankee’s. I’d even pay to watch that kind of mash up. Or maybe they could do a band aid kind of concert at Ibrokes with musical stars such as the guy who won X factor, not sure of his name or that other guy something Mc Donald not sure of his first name I think he was in coronation street erm cant think of anyone else oh wait marti pillow he loves the newco. They could also maybe get a power card meter installed and give the fans keys that they could top up giving as much or as little as they like. They could call it something like “Giving the power back to Ibrokes” and they could all line up and plug in their power card keys like a spiritual procession, a sort of govan Camino de santiago except with power cards. This is brilliant I should work for a mad men style company, they could even start planning their 141 years of pride ceremony and have soldiers rappelling of the roof and all the fans could hold up ghetto blasters blasting rave tapes, like John Cusack in that film that he holds up the ghetto blaster in. They could get all players from the past to march in a big circle like a modern day Jurasic park throwing poppies to the fans as they past them and the fans in turn could throw whatever change they could spare at them. Oh man I just realised something they pretty much did all that.

  20. sorry if i missed something , but did Rangers not raise 22m from investors and fans ? now if its 17m by investors and 5m by fans who cares ? its in the bank ! and can all celtic fans say that the 10m that was raised in 1995 was all from the fans ? not a penny from investors? also charlie blue will move on with a profit who cares ? just as long as Rangers are better off ,did wee bunnet ( remember him the most hated man septic park at one time, but now a saint !!!) not do the same ? some people are obsessed by Rangers and hate the fact they have not died and are alive and kicking ass and have 22m in bank AND the icing on the cake with UEFA ,ECA,SFA SFL AND LORD CARLOWAY stating the club and history lives on , try not to coke on your cornflakes bhoys , goodnight and godbless.

  21. GK

    paul … darrell king claims he has never heard of you on SSB tonight … fact or fiction ?

  22. Joe

    By the time he pays for the architectural plans he couldn’t get done for nine million subtracts the power bills and players wages. He probably wont have that much cash left for all the pubs he was going to build for the betterment of Govan. I still think my power card idea is a winner I bet Craig Whyte would have been all over that, and probably minty as well.

  23. k

    Hi Paul, in a loop here, could you or someone else confirm or refute? Did you in an earlier post refer to Left hook blog or am i confusing your blog with A. N. other ? Thanks K.

  24. k

    PS one eyed blue zebedee?

  25. Joe

    Chim chimerry chim chimerry chim chim cherooooooo,
    The share issue was a flop
    and it’s not on the newssssssss
    Chim chimmerry chim chimmery chim chim cherooooo
    IT WOULD HAVE NEVER HAVE WORKED, AS THEY’RE ALL ON THE BUROOOOOOOOOOOO
    It would never have worked cause they’re all on the burooooooo!

    Or in the jaiiiiiiiiiiiiiiiiiiiiiiiiiilllllllllllllllllllll

  26. Cheerful Charlie Chuckles has, on more than on occasion, talked up Man Utd’s NYSE flotation as the vry epitome of IPO’s, a major success which he thought the RIFC IPO could & should emulate.

    Maybe he should have mugged up on the details before making such a bold statement:

    The initial offer price for the Man U shares was to be in the region of $16-18, however there was so little enthusiasm that they eventually floated at $14, a 12.5% discount.

    By the end of the first day’s frantic trading the shares had reached the dizzying heights of $14.05, a massive gain of 0.004%.

    Since then the price has, like most shares, yo-yo’d somewhat, at one stage falling to as little as $12. They currently stand at $13.65.

    My conclusion? Be careful what you wish for Mr G, it might just come true.

    PS It should perhaps be noted that, despite the figures mooted, the Man U float raised not a jot for the club; It all went straight into the Glazers’ pockets…

  27. mick

    octypus ticketus and imran and brian from zues it all makes sence now

  28. AntoniousF

    looks like Green has raised 22 mil, by early msm reports (5 mil from fans and 22 mil from investors).

    now the dough is in, is it time he realises that Ally baba McCoist is not the person to take the great institution with 147 days history forward on the field of play.

    watch this space methinks

  29. Lawyers………seekers of truth and justice at a price, wonder or perhaps not what price Mr McConville’s “Your comment is awaiting moderation” price is, the content here is more damning than anything that would need explained,

    You haven’t quite latched on Violet have you, cam is the resident “uncle tom” ……or probably worse….lol

  30. cam

    Well £22.2mill in the bank,SFA give their official sanction to the Gers fans industrial action against DU,Leggo is back on track,D&P getting investigated,the Craigie boy asking his few remaining pals to stick a hacksaw in his Xmas cake,42,000 fans!!! at a midweek game in the run up to Xmas on top of pumping money into the greatest club in the world!
    This is shaping up to be a very merry Xmas.

    42,000! am i making my point here!!!

    42,000 true blue content Bears re building their magnificent club.Any potential investors will be looking at that and saying gimme some of that!

    • ecojon

      @ cam

      Before you get carried away – how many free tickets?

      Just think if every Bear in the stadium had spent £238 they would have managed to buy £10,000,000 worth of shares.

      £22.2 mill in the bank? I wonder what the accounts will say when they are eventually published. You have forgotten to deduct the £2.5 million cost of the flotation btw 😦

      What Scheme do you think chico should axe now he is £5 mill light?

      Perhaps the Bears are content but they appear to be more financially astute than chico gave them credit for by the amount of them, possibly like yourself, who didn’t buy shares.

      I learnt many decades ago never to count chickens after a few hard knocks and it was one of my best ever lessons. As always – Time will Tell.

      And I say again, if the Bears bought £5 million shares then that – in the current climate and at Xmas – is a truly magnificent achievement although it does lead me to believe their much vaunted support base is not as big as often proclaimed.

      Indeed the way the HMRC petition has stalled has also fascinated me especially with the amount of advice on how to ‘boost’ numbers by fiddling being explained on Rangers fan websites which shows a continuing diregard for the rule that most people abide by. I can only conclude that the fan base is not as large as claimed or a helluva lot of fans accept that the HMRC acted correctly.

  31. Jim

    If you want to trasck the price then here’s the link http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB00B90T9Z75GBGBXASQ1

    Currently at 75p, but other than someone selling £150,000 first thing this morning there’s not much trade

  32. JohnBhoy

    The Union Bears and the Blue Order tried to drown out Charlie last night as he gave his usual “always look on the bright side of life” speech. The tide is turning.

  33. ecojon

    @ JohnBhoy

    Chico has decisions to make on his future and his retirement plans might be his priority. Maybe not – it could be restoring Rangers to its rightful place in Scottish football wherever that might be 🙂

  34. cam

    Johnbhoy

    That was a protest by traditionalist against any re naming plans.
    Charlie Blue is still living up to his promises and i would back any re naming plans if it brings in good money.
    If 42,000 folk turn up,midweek to watch a poor Gers team play Annan then any potential investors will want to be part of Scottish footballs only growth industry.

    • ecojon

      @ cam

      It seems the Bear investors decided not to be part of the growth industry. Always remember cam that in amongst all your world records you still sold less STs this year than last year even at highly reduced prices.

      Enjoy your moment but don’t get carried away or your words may well come back to haunt you 🙂

  35. cam

    I think Chico should contact Scottish Power regards naming rights.
    The Ibrox Scottish Power stadium,,,bringing power to the peepul,the energy peepul!
    The stadium would be buzzing,the atmosphere electric,no shock results,a down to earth support,the PA guy really cranking up the amps,plenty positives,no negatives,and the neutrals would be let in free of charge,,,,let me know if you want me to stop!!,,, a Green energy policy,RFC being a real powerhouse in the economy,generating millions and paying the bills on time!

    Yes,,the Ibrox Scottish Power Stadium of light,,,,after all watts in a name!

    • cam

      Off for a kip,i expect some resistors to offer some alternate views,do try to keep your remarks current and don’t let the resurgent Gers blow your fuses.

  36. ecojon

    Interesting – the delayed publication requests have started. I have undernoted an explanation of this. I also see that punters are even selling 50 shares and 100 shares.

    UNDERNOTE

    It means the trade occurred some time ago but they didn’t tell you about it at the time. This is common for big trades a it can take time to round up buyers for the trade. If they had to publish live each tranche of say 500 that they manage to knock out, people would see them and realise there was a big seller desperate to get rid of stock and buyers would hold out and offer a lower price to the seller.

    By keeping all the buyers in ignorance until they have all been sold, the seller gets a better price overall. Unfair? Perhaps but that’s the rules.

  37. sorry i have to correct some people again , dan, Rangers are an associate member of the ECA because they are in the third tier and downgraded not a new club FACT Rangers are seen as the same club by UEFA as they have been ranked for the past three years FACT lord carloway ( a law lord ) has stated its the same club FACT the sfa license is the same FACT the sfl have stated its the same club and even congratulated them on 140 years FACT , i am sorry if this gets in the way of your obsession but it may help some of you poor souls to now get on with your lives PS JOHNBHOY how do you know the blue order/union bears tried to drown out chico blue ? were you at the game ( jimmy sanderson !!!!!) and among the 42k for a mid week game ??? PPS ECOJON dear oh dear oh dear REALLY ?? having a go at Rangers fans when “the greatest fans in the world” could not sell out their own midden while GIVING yes GIVING tickets away , so i take it SELL OUT SATURDAY is over and youve now moved on to BRING A FRIEND FOR FREE SATURDAY ????? your mob are always good for a laugh.

    • ecojon

      @ carson

      So much bile and angst in the midst of such a happy time for you – makes me think you know what’s coming down the track again 🙂

    • Mícheál

      I regret to say that you got some facts wrong.
      Lord Carloway stated that the club seems to be a seperate entity but without legal personality. This means for the scottish football authorities the club is the same club. Does everyone has to agree with that? No, this is a matter of interpretation of the rules and regulations of the SFA. Mind you, it has nothing to do with law therefore your emphasis on lord carloway being a law lord is null and void.
      2ndly you should not take the UEFA information about Rangers as source of information. It has been updated 26th January 2011 the last time. Sorry to say that.
      Nevertheless I can make a point again (lots of people have done that in the last couple of months but it seems some have not been listening)
      UEFA does not care if Rangers are Rangers 1873 or Rangers 2012. This is a petty argument for supporters. The only thing that matters is the answer to the question: Has Rangers been a member of the UEFA for the last 3 years. Apparently the answer is NO.
      UEFA Club licencing rules:
      Article 12 – Definition of licence applicant
      1 A licence applicant may only be a football club, i.e. a legal entity fully responsible for a football team participating in national and international competitions which either:
      a) is a registered member of a UEFA member association and/or its affiliated league (hereinafter: registered member); or
      b) has a contractual relationship with a registered member (hereinafter: football company).
      2 The membership and the contractual relationship (if any) must have lasted – at the start of the licence season – for at least three consecutive years. ANY ALTERATION TO THE CLUB’S LEGAL FORM OR COMPANY STRUCTURE (including, for example changing its headquarters, name or club colours, or transferring stakeholdings between different clubs) DURING THIS PERIOD in order to facilitate its qualification on sporting merit and/or its receipt of a licence to the detriment of the integrity of a competition IS DEEMED AS AN INTERRUPTION OF MEMBERSHIP or contractual relationship (if any) within the meaning of this provision.

      With that said the likelihood of international football at Ibrox (if qualified through a cup competition) in the next 3 years equals zero.

      That’s the only point that really matters for businessmen.

      But as it is so important to you that the club is the same club I guess you will also agree that every punishment handed out by the SPL for the misdemeanour of the club before the administration will have to be borne by the club and therefore the holding company of the holding company of the assets as old club = new club.

  38. When you read this Mr McConville you will realise but not admit that you have lost any semblance of even handedness and neutrality that you like to claim you possess, you have used all the rope needed.

  39. ecojon, i am only stating FACTS , Rangers have 22m in the bank FACT have 37k season ticket holders FACT have been accepted as the same club ( not company!) FACT are selling out , while others struggle badly FACT so i am sorry i do not think its “bile and angst” to report the mere facts of the situation , give it a bash old bhoy chin chin.

    • Mícheál

      Again some of your facts are not facts.
      Rangers have 22m in the bank? Please provide evidence otherwise it is not a fact but your opinion to which you are entitled to but do not state it as a fact.
      Selling out? I think the capacity of Ibrox Park account to 51,082 spectators, so not selling out is a fact. But also 30 – 40k in the 4th league are an achievement.
      I can agree with two facts of yours.
      1. Acceptence of Rangers as the same club by the authorities of Scottish football.
      2. Other football companies struggle badly. But nobody knows about the financial health of Rangers right now.

      The 37k is probably not the exact amount but rounded, I suppose.

      So three out of five right. Not to bad. Probably would have passed an exam with this ratio.

  40. ecojon

    @ carson

    I gave up trying to explain anything to people with a selective fixed-mind a long time ago and you – from various things you say – fall into that category IMHO.

  41. michael . most grounds will always have segregation so a sell out is usually the amount of tickets they can sell i.e. old firm will be sell outs at 49,000, you say 30-40k for division three where have you been try 49k unlike some clubs who have still to announce attendances for some games why? 37k for season tickets is “probably ” not the correct amount and you base this on what evidence? and i think i will take Rangers directors word that 22m is in the bank , do you have other evidence? ecojon , selectives fixed mind REALLY !

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