Did the Rangers Share Prospectus Project a Loss for This Year? A Prize if You Can Find It!*

This week Mr Green revealed that “Rangers” will make a loss this year. Sadly, from what I read, he did not indicate if this was “Rangers” the football club; Rangers Football Club Ltd (formerly Sevco Scotland Ltd); or Rangers International Football Club PLC.

However his comments, quoted on the official Rangers website, raised a couple of queries regarding (a) the correctness of the information given on the website and (b) the obligations of the Chief Executive of a quoted public limited company when telling people about potential profits and losses. I will address the second in a later post.

As extracts from the article state:-

CHARLES GREEN has detailed how he plans to turn Rangers from a loss-making company into a profitable one over the next year.

As per projections in the prospectus made available to potential investors late last year, the 2012/13 campaign is seeing money being lost by the Light Blues.

Green said: “The company is currently trading at a loss and the reason for that is our income is halved from coming out of the SPL and Europe and going into the Third Division.

“Typically, Rangers would be close to a £60million turnover per year and we’re down to below £30million now.

“It’s not an overnight thing. All of those things will take a year or two but the losses are a one-year thing and they won’t be here next year. We’ll grow and grow thereafter.”

Firstly the article does not specify who or what the “company” he is referring to actually is. However the reference to the prospectus might suggest he is speaking about the company which was the subject of the prospectus, namely Rangers International Football Club PLC.

Anyway, I thought I would have a look through the share prospectus to see what that actually had to say about profits and losses. After all, as the official Rangers website tells us, the projections were in the prospectus.

Page 7, which contains some of the summary, includes the line:-

there are no profit forecasts or estimates in this document.

Interesting. How, if there are no forecasts or estimates in the Prospectus, did it in fact “project” the losses?

On page 22 we find the following:-

Any forward-looking statement contained in this document based on past or current trends and/or activities of the Company should not be taken as a representation that such trends or activities will continue in the future. No statement in this document is intended to be a profit forecast or to imply that the earnings of the Company for the current year or future years will necessarily match or exceed the historical or published earnings of the Company.

On page 31:-

The Directors believe that the FFP (Financial Fair Play) will benefit the Company as the Company’s aim is to avoid significant losses and is expected to be run as a profitable and self-sustaining organisation, thereby differentiating itself from many of the leading clubs in Europe, which are heavily reliant on ownership funding their costs. These developments are likely, in the view of the Directors, to lead to further, possibly large scale, reorganisations of European football, which will focus ever increasingly on underlying club profitability.

Page 49 contains a financial statement for the three months from incorporation of Sevco Scotland Ltd to 31st August 2012. This shows the following:-

Profit from Operations                                                                £13,120,000

Profit from Ordinary Activities Before Taxation                    £12,947,000

Profit for the Period                                                                      £13,884,000

(Of course that “profit” figure arises as a result of the addition of “negative goodwill” of £20,465,000 – Page 62)

So, unless I have missed it, there are no such “projections” within the Prospectus. There is nothing in the prospectus, as far as I can see, which states that a loss will be made this year.

The prospectus does not contain a projection of a turnover of £30 million.

I am sure therefore that there is simply some misunderstanding or “sub-editing error” on the part of the Rangers website. After all, it would certainly not be the case that Mr Green was attempting to put a spin on figures, and suggesting that, all along, investors had been made aware of what he was now saying.

It does seem odd that, despite him his company’s website saying that the projections were in the prospectus, they are nowhere to be found and indeed the prospectus specifically states that there are no projections.

Maybe, as well as signing James Traynor from the Daily Record, Rangers could have brought in a couple of good sub-editors who would have noticed the discrepancy.

After all, it cannot be good for an “official” website to make the boss look silly by attributing incorrect statements to him!

Posted by Paul McConville


*Please note that the prize for locating such a projection in the Prospectus is a feeling of satisfaction at having shown me up as a person who cannot read a simple 122 page financial document.




Filed under Charles Green, Rangers

109 responses to “Did the Rangers Share Prospectus Project a Loss for This Year? A Prize if You Can Find It!*

  1. TheBlackGoosey

    Yet another “blog” twisting facts, making wild conjectures & blatant lies.

    Question: This hatred of Rangers obviously consumes your life. Do you enjoy doing this? Is that what motivates you? This is sad.

    It appears to me that your writings I would deem are “likely to bring the (blogging) profession into disrepute”.

    An accusation I believe has been made before in more legal terms.

    Time for you to move on & make more of your life as this really is becoming quite tiresome for someone of your advanced years. A bit of perspective, humility & indeed honesty would be beneficial for you in my opinion.

    • @the blackgoosey

      No “twisting of facts” simply information lifted from official website and prosectus, feel free to read them yourself they are both available online.

      No “hatered towards rangers”. What consumes us is the MSM and RM that issue up until recently daily statements , often multiple statements, which contain major inconsistancies if not down right untruths.

      The blog has brought nothing but praise and current “viewing and contributor ” figures justify the content.

      You are welcome to your opinion and if you are tired of the content here then you are under no obligation to continue to read it. Its quite simple don’t come back again.

      This blog contains more truth in the main blog content then has been provided by either MSM or RM over the last year and more. It also has a following of posters that encompasses all levels of society, all football clubs and non footballing supporters, all equally given the opportunity to ask, inform and learn about one of the biggest business AND football failures in Scotland that has still not run its course. This is not an opportunity that the MSm provide and therefore its not obession that is the driver here, its education and change for the better and a concern that NOTHING like this is ever allowed to happen again in Scotland.

      There is perspective and honesty here, maybe you are too accustomed to reading the RM and MSM which has proven over the last 12 months and many more years NOT to provide either and only feeds the bears what they want to hear or read.

      • ecojon


        Well said michael. The beauty about this place is that it doesn’t have a single agenda as there are too many opinionated b*ggers like myself who love to fight their corner.

        Paul provides a very open forum here for all opinions which isn’t replicated in many places. And it’s open to TheBlackGoosey to submit a guest post for consieration where he can argue his case although the usual reams of cut & paste we get from most Rangers fans is harly worth reading again let alone responding to. But we do have some interesting Bear posters who make good contributions.

      • Maggie

        If it wasn’t the truth they wouldn’t be so indignant and enraged.
        Wonderful rebuttal.

      • Den


        Nice response. Unfortunately it will be lost on the recipient, he was looking for irrational abuse.

        These trolls blow themselves out when they get a rational response or are ignored.

    • alexander

      Seems Your Knickers are in a hellava Twist, about what? THE FACTS! JABBAISM has become the newest craze on the interweb,and we can all see VERY CLEARLY that you are a JABBAITE!

    • James C

      Just what fact is being twisted? It’s a simple clear point. The prospectus clearly states no projection of profit will be made, just the authors view that the current general trends in football finance will shift towards clubs having to be more sustainable. So basically either there is no detailed business plan or they don’t want to publish it. Fair enough, if you want to invest money in that go ahead, if they are right it may payoff bigtime, it may not. This is why big institutions make lots of investments of varying risks, some pay and some don’t.

      The blog on the other hand simply points out that rangers communications machine come across as somewhat haphazard, maybe even disorganised. In the new digital age and when you have so many people watching that implies either incompetence or contempt for your fans and investors.

      Your reply on the other hand is just a list of accusations without any evidence, frankly dull dull dull dull. God it is so boring, at least then odd insult would make you a bit funnier to read

  2. Dhougal

    I can hear the theme tune to The Pink Panther again…….i think a ”bimb” is about to go off heehee

    • dan

      A ‘bimb’? Did you say a ‘bimb’ Monsieur? If you suspect that a ‘bimb’ is about to go off, shouldn’t you inform and Officer of ze Li ? Or are you just saying zees to make ‘mnkeys’ out of ze Sevconians?

  3. Kingseat

    Oh dear, oh dear methinks history is repeating itself. Who was it that said a fool and his money are easily parted. Insolvency II beckons and this time it will be so long suckers and it couldn’t happen to nicer people. Still it was fun while it lasted!!!

  4. ecojon

    I have read that the proceeds of an AIM flotation do not feature in a company’s profit & loss account and are not classed as turnover. But they can obviously be used towards running/operational costs although this would reduce the amount available for the capital projects which have been announced by Rangers International.

    But what I cannot get my head round is: What was the amount actually raised by the AIM Flotation of Rangers International on 19 December? My understanding was that £17m was raised by institutional investors and just over £5 million by fans which, if correct, was a magnificent achievement in the current economic climate.

    Deducting £2 million for flotation costs leaves as far as I can see approx £20m. But at the Ibrox meeting on Wednesday when fans were given a cast-iron guarantee the seats would remain blue it was also stated by Traynor, according to Rangers tweeters, that there was only £10, from the flotation.

    Was this a straight error by Traynor or the tweeters and if so, on such a major issue, it is strange that no correction has been issued on the official company website.

    So if only £10m has been raised what about the other £10m from the £20m officially announced. Could it be that £10m is with TRFCL, under who knows what terms, and the other £10m is with RIFC Plc. Or has £10m already been spent and, if so, what on?

    So if there is only £10m left then that must be Ally’s warchest for players in a year’s time because if the club is running at a loss where else could the warchest come from?

    But this bega the question – where is the money going to come from for all the capital projects mentioned in the AIM Prospectus document. Still we will be getting 6-monthly figures published for RIFC Plc before long which may be of some assistance.

    It’s worth remembering that under AIM Regulations a PLC must operate an official website to keep investors and presumably potential investors informed and therefore it’s imporatnt that information on the website is accurate.

    • @Eco

      2 things strike me about these comments from within the depths of fortress govan.
      First is that to make an ambigious statement concerning company operating is unacceptable in the financial world of investment especially when it is apparently attributed to the CEO. This can and in normal circumstances would,have immediate effect on the investors as it will affect the share price and NOT in a good way. So why would chucky make this statement now when there is no need, or is it yet another example of him running his mouth again because he finds it so difficult to keep it closed. If thats the case then I can imagine the “institutional investors” will no doubt have kept him very busy on the phone over the last few days, pity none of the smaller (more to loose) investors are seemingly concerned.

      Second has 2 points to it, if the maximum playing staff wages are to be capped at 30% of turnover, as we stated on this blog when this magic figure was delivered, the club is already exceeding this and therefore how do they reverse it when the current playing contracts are all deliberately long term ie, 4yrs + and the operating profit is fixed or only increasing marginally over the next 2-3 yrs assuming the team progresses, which on current form does not appear to be guaranteed. If the operating gap is £30m according to chucky, then surely the club in addition to this year are facing a hole, based on his figures, of around £80-90m. This hardly meets the FFP and is ontrack, assuming they survive that long to match the past 3 glory years down Govan way.

      The absolute arrogance of assumption that the team will acheive promotion in successive years and then immediately sit atop the top division beggars belief, oh wait, no it doesn’t its just what we all expect now.

      The team has a very long way to travel before it is capable of reaching the heights it believes its capable of regaining. Under the current management I don’t believe that the business companies behind it will be capable of of achieving it before a similar financial crisis to last year hits. Maybe that is why the new companies structure is complex enough that the failing company shifts the “assets” around again and the liabilities again go unpaid and are left behind.

      Re the missing £10m maybe now the “external” debts have now been settled there is a good chance that thats where the capital has gone. Not as was clearly stated by chucky earlier in the season paid earlier, these debts simply disappeared until he had the cash from the share issue in the bank. The funds for development and “new signings” simply just is not there and the club is currently seriously under funded.

      If I were a bluenose then I would be seriously concerned by the business management, despite all the RM spin, and not a little concerned about the football management and playing staff. This is like watching a slow motion train crash.

      • ecojon


        There are many things in the Prospectus which don’t add up to me and now I no longer concentrate on what chucky appears to be saying but rather what he isn’t saying.

        You’re right about CEOs of public companies – they have to be very circumspect about how statements might affect the share price and I would love to have been a fly on the wall when the institutional investors were told Rangers was for the offski out of Scotland when the AIM Prospectus talked only about them working back to the SPL.

        And yet no mention in the prospectus that chucky wasn’t going to let then into the SPL – why wasn’t that in the AIM proposal? When does a CEO of a public company think he can make that decision on his own or has the Rangers International board backed his position? There is just so much unanswered and the more meetings chucky has with fans the less clear I become of club direction.

        If I was on the Rangers International board the first expenditure I would authorise is a muzzle for chucky 🙂

        • MrNice

          @ecojon – given that the rename ibrox may be part of original deal with ashley and just a draw-down of the £1.5 million extra thereof…., so green always planned ot sell stadium name, and if fans dont come up with better offer he accepts ashley original – rangersretail package.

          Could the £17m from investors be – in kind ? and not money up front as such…. ? Maybe £5m of the £17m is available now (with the £5m from fans = £10m), and rest only gets committed as required….. seems odd – but if you float on AIM – do you have to declare the real ammount raise and prove it ….? or can you announced we raised XXX and it be a bit looser ?

          Aim currently shows RFC value at £46 million, 30% more than CFC ? a little odd ? and no impact on Greens profit warning…. either. But maybe the shares in issue is fraction of what sold.

  5. Two comments, two TD’S already.
    Hiya Jack, hiya pal!

    Surely if there is inaccurate information displayed on their website, is it not incumbent on Sevco/RIFC Plc/TRFC/whatever to remedy this and display the correct info within a set time, as opposed to waiting for the six-monthly figures – if they ever do see the light of day?

  6. JohnBhoy

    Charlie is at a loss to explain no profit, no SPL money, no £22m fan investment, no commercial partnership with the Dallas Cowboys, no academy with Central Coast Mariners, no players from Barcelona, no players from the European Championship, no cups, no promotion, no EPL, no Champions League anthem, no Ibrox railway, no Ibrox hotel, no new players, no orange top, no pals, no need for a safe-house, no £10m for Ally, no Rangers, no history and no exit. But the investors have doubled their money.

  7. ecojon

    I see the Herald is still allowing Dodds to spout the ‘party line’ on EBTs with his comment: ‘After a court of law ruled they were administered legally – although HMRC are considering an appeal – it would be a bit rich if the SPL came back and said titles should be taken away because of them. Rangers fans would never forgive that and this could be the straw that breaks the camel’s back.’

    I thought the Herald had actually run the story that Rangers want to leave Scotland for anywhere as quickly as possible so as far as Scottish football is concerned the camel’s back is well an truly broken. I remeber when the Herald used to be a paper of record now it’s a rag no better than the Record or Sun.

    One thing I would congratulate Dodds on is his opposition to the Dundee United boycott by Rangers an his comment: ‘Full credit to the fans who do plan to turn up, who back their team through thick and thin and say, ‘I am going to watch my team full stop’.

    Wonder how that will go down in the Ibrox bunker?

    • I thought the ‘titles thing’ had nothing to do with EBT’S. I thought it was to do with second contracts and side letters. Must have misunderstood the whole reason Lord Nimmo is sitting next week…

    • dan

      Does this idiot not yet realise that the FFT finding’s (that might be appealed) have nothing whatthefucksoever to do with LNS investigation? OK, I understand that while the rest of us were bent over school books and trying to expand our minds, ‘Doddsy’ was ‘heederin baws a’day’, and therefore might be a bit intellectually challenged. But is there no one to explain to him, in simple terms, the difference between the FTT and LNS? For heaven’s sake what newspaper is he working for? Is there no one there who can have a word in his apparently thick ear?

    • Maggie

      It’s all part of the pretence/PR onslaught,to have everyone
      believe that the EBT payments and the improperly registered contracts
      are one and the same issue.Sally was at it again in today’s
      Mail on Sunday.
      As you correctly say NO ONE in the MSM actually corrects their error.
      No change there then.
      The very fact that The Herald actually employs Billy Dodds to
      “write” a column tell us all we need to know about the depths of
      the barrel they are now scraping.

  8. Old Auditor

    Mr Dodds was at DUFC earlier in the week being interviewed for the managers job. Perhaps that is colouring his views about the boycott.

  9. ecojon

    Well Andy gave it his all and it wasn’t enough but what a big heart he has and as long as a sportsman gives his best then there’s nothing to be ashamed of in defeat.

  10. Bill Fraser

    They couldn’t make a profit when they were on £60m a year as they couldn’t afford to pay their taxes so how on earth were they going to pay the players who walked away. Now they can’t make a profit on £2.5m a month which is what more than most SFL3 teams spend in a year and yet Ally still rants on about needing more players on top wages. They’re going to spend at least one more year in the same circumstances depending on league reconstruction and £125K a month for stadium naming rights isn’t going to make that much difference, so where is the money going to come from to buy the world-beaters once the get back into the top flight? Europe is still 3 years away unless they win a cup and a first round elimination would see them virtually bankrupt. Has Chas found a magic lantern and how many of the three wishes are still left?


    • Ally McMoist

      Correct me if i’m wrong but I don’t think they can play in Europe for 3 years even if they win the Scottish Cup?

  11. JohnBhoy

    The Remembrance Day circus at Ibrox, praised by Charlie and Ally, has rightly been criticised by military chiefs as inappropriate and failing to focus on the fallen:

    “The General Officer Commanding Scotland has now had the opportunity to review the events that took place at Ibrox Park with the other service heads in Scotland… the format of the half-time event and the conduct of those taking part in it was inappropriate for Remembrance weekend and will take steps to ensure that such events are conducted with appropriate solemnity in the future…The focus of Remembrance activities must be on the fallen, not on those who are serving in the Armed Forces today.”

    • ecojon


      Yea I see the Darkside are on a hunt to find out who complained – might be better if they tried to find some footballing skills in their squad.

      However a number of Rangers posters have previously expressed disquiet about the way Remembrance Sunday was treated at Ibrox and to be fair to them they have welcomed the GOCS announcement.

      Many Rangers fans seem unable to grasp that Remembrance Sunday is not about recognising our brave men and women who serve their country when called no matter the human cost. It is about remembering the fallen and the injured and the price they paid for doing their duty.

      It is a time for the whole Nation to come together in various venues all over Britain and abroad, including places where our troops are in action, to pay homage to a sacred memory and sacrifice which can never be repaid but should always be remembered with dignity and deep gratitude.

      Perhaps the saddest thing I have read is from a Rangers poster claiming the Ibrox debacle was another record for the number attending a Remembrance event. I think back to the half-time scenes of uniformed personnell having kick-abouts on the park, kissing females in the crowd, singing football songs, draped in football colours and waving Ulster Banners and what I see is a rabble where all military discipline had broken down and I can only imagine that if GOCS saw the same videos then he probably wept. Appropriate for Remembrance Sunday – I don’t think so.

      And I also find totally objectionable any demonstrations which disrupt the minute’s silence at Parkhead and as a Celtic fan I would be happy to see protesters banned. I have actually attended ceremonies honouring the dead of countries we have fought against in the past and I would no more think of dishonouring their war dead than I would our own.

      I accept that some people have principles which might oppose the ‘military’ which they are entitled to hold but I do not hold with dishonouring our dead and wounded because many of them had no choice but were conscripted. Even those in our modern volunteer army are often there initially because of the pressures of unemployment so perhaps don’t have an absolutely free choice.

      As to celebrating our serving troops then I have no problem with whatever Rangers FC does in that regard but just not on Remembrance Sunday. I also wonder just how appropriate it is to lay poppy wreaths at the Ibrox Disaster Memorial that day. And I am not denigrating the importance of that memorial which to me as a Glaswegian is more than just a Rangers memorial but also part of the city’s history.

      I will never forget the shock that settled on Glasgow after the terrible news emerged and I can assure you it was a shock that transcended any football differences.

    • Apology, or justification (can’t work out which) now on RFC website –
      “All activities on the day were arranged in full co-operation with the Royal Navy, RAF and Army”

      And …
      Well done St Mirren

    • dan

      What a slap in the face for us ‘patriots’!!!! Has this military person got a name? I think we should be told! Who is this person who slyly goes by the anonymous title General Officer Commanding Scotland. Sounds suspiciously Irish to me!!!!

  12. Pensionerbhoy

    Anyone who reads my posts will know that maths and economics are not my strong point. I still get on the wrong number bus. However, that is more likely to do with my age, my eyesight, senility or a combination of all three rather than my numerical competence.

    But, I believe it takes no Peter Lynch to recognise that if something “ain’t there” then it simply “ain’t there“. Ever since my Sir Robert de Brus, better known as The Bruce, star struck days at primary school, I have always been curious about how long it takes a busy and impulsive spider to get itself tied in knots. Some of Mr. Green’s statements on matters ranging from pies to predictions seem to me to resemble the frenetic spider extremely closely. He is so caught up in spinning that he loses sight, fairly often and easily, of the direction he intended the fragile threads to follow. As a result he seems quite regularly to find himself caught in his own tangled web rather than trapping the prey he was supposedly luring. One has to ask just how much silk Mr. Green has left in his pouch to keep some semblance of a snare effective.

    I am resigned to winning no prizes for finding Mr. Green’s imagined and predicted specific profit and loss forecasts in the share prospectus, given it simply does not exist, not there anyway (I did actually put my financial acumen to the test by having a browse in the prospectus and, thanks to the results of Paul and ecojon ‘s comprehension tests, I came out of it without feeling suicidal). Like so many other claims by the same gentleman, it is either a figment of his wishful thinking or a deliberate onslaught on the intelligence of his audience. But then, this has ever been the Green tactic. One must recognise that on the whole it has worked incredibly, yes incredibly, well.

    But, somehow I would feel unconvinced of my self satisfaction if I had discovered this well hidden treasure. After all, there are, sadly, several Little Miss Moffats sitting in the corner underneath all of this weaving, ordinary supporters with last gasp hopes for their club, who may wake up some morning to find a great big spider has eaten all their curds and whey. My plea to them is to please challenge this human arachnid rather than blindly trust his slick spinning. Nor do the background of his well bribed P.R. henchmen add credence to what he spins. He may be simply doing a Bruce to find the best solutions, but I have grave suspicions he is actually after gullible supporters’ monitory juices.

    • Very eloquently put PB, the web we weave is certainly approriate in chuckys case. For too long the bears have been sleeping having been fed too much honey. With spring coming I hope that they wake up with vigour and start taking the existance of their club seriously rather than wait for more spoon fed honey because the bees have nt been very busy over the winter and the pot is empty.

  13. Arb urns

    Clarkeng will be along in a minute with his teddy bear economics to tell us that Celtic are worth less than rangers in the current financial health league he lives by. There will still be loads of negative goodwill around no name stadium next year for Kenny Everett hands to grab.

    Where is that share issue 10m , ringo Starr knows in an octopuses garden under the sea . All together now …. I’d like to be

    Can only quote the legendary clarkeng to me “I don’t think I can quite see it” or perhaps it’s I don’t think I want to see it.

    • Clarkeng

      @arb urns
      Check out the London Stock Exchange AIM.
      It is actually them who say this.
      Maybe they are all bluenoses as well eh?
      Is there on decent honest CFC fan on here who will confirm this fact?
      Maybe I should have made that two questions.

      • ecojon


        Many serious investors regard the AIM Market as no more than a casino as I am sure you are well aware.

        As to Market Capitalisation which I assume you refer to then at current share prices Rangers is ‘worth’ almost double that of Rangers when I last checked 3-4 weeks ago. However, I don’t particularly ascribe a lot to that figure as it is based on a share price which doesn’t actually reflect reality IMHO.

        I have never ever doubted that chico is a master at AIM Flotations and the period afterwards however I have documented on this blog a number of cases as to how things eventually pan-out.

        This is very very early days with regard to the Rangers share price with the lock-in situation and the very thin share volumes being traded so much so that even deals involving a few hundred shares can significantly affect the share price.

        Tbh I can’t really believe that you accept that the market capitalisation has not been engineered by accounting which albeit legitimate doesn’t really paint the full picture of what is the actual footballing position of Celtic and Rangers.

        However, you may well disagree with me and, as I always say, time will tell.

        • Clarkeng

          Thank you for the response.
          Are you saying the the LSE is corrupt.
          In that case should we believe CFC are in the position stated.
          Could things really be much worse.
          I have to say I expected better of you.
          However given where your loyalties lie I perhaps should not be surprised.
          A simple acknowledgement of the facts presented would have resolved an issue.
          We are truly heading for financial meltdown and anarchy if we do not accept the overseeing institutions informed report on the state of our businesses.

          • ecojon


            I honestly haven’t a clue whaat your gobble de gook is all about. I have answered your questions at length in good faith and I get mince back. I can only assume that you are unable to pick any holes in my answers.

            • Clarkeng

              You have waffled and avoided answering my questions which is a sure sign you do not want to answer the questions.
              That is probably because you know the facts which I asserted are correct and you cant bring yourself to say it.
              Both CFC and Rangers are quoted on the LSE AIM so it is easy for people to check for themselves.
              Next you will be shouting CFC are being victimised by the AIM.
              If you check my assertions and they are correct you only have to say so.
              If they are not then you may rebutt them.
              But if you just cannot bring yourself to acknowledge the correctness of my assertions then that seems to me to downright disingenious.
              So without waffle or deflection what is it to be.
              Have I stated facts.
              Or not.

            • @eco

              Been called a bile-spewing bigot yet? If not, It’s only a matter of time.

          • James C

            Not wanting to interfere between what is obviously a long and close friendship but I seem to remember about 10 years ago based on share value, Cisco was worth more than most countries and some dotcoms, billions based on years of losses. No one really believed that then or now. Share values are not in general a measure of what a company is worth, they are a balance between,

            Potential income from dividends
            Expected increase in value of share (future profits?)
            but really Demand from others to buy vs desire on owners to sell

            In an rational world the third derives from the first two. But humans are actually not very rational and tend to be over optimistic. Increasing share value actually will make people demand more as they see profits if the share continues to climb. This attracts even more demand. This is a pretty standard effect. Personally, I suspect this is why green etc are never out of news, just keep every talking, float exciting news like.ELP, it all helps to create the right image.

            See dotcoms, house price bubbles, south sea bubble for what happens at end to over valued shares.

  14. ecojon

    I am quite amazed that Ally isn’t concentrating 100% on the football activities at Rangers and many fans think he should be.

    But he has found time to join with Dodds in the Herald and accused “individuals with agendas” of a concerted effort to strip Rangers of titles

    And Ally told the Scotsman – re EBTs and the LNS Hearing: ‘My own opinion is that I’m a wee bit disappointed [it is going ahead]. I think it has been driven by individuals with their own agenda, to be quite honest with you,” said McCoist, who refused to name names because he “could start a lot of trouble” if he did. Let’s face it, the names of SPL chief executive Neil Doncaster and Celtic chief executive Peter Lawwell would surely not be far from his lips if he had trouble in mind.

    “That’s only my own opinion on it, how I feel about it, and I just hope that common sense will prevail,” added McCoist. “Certainly the title stripping is a non-starter for me and a non-starter for our football club and indeed our supporters.’

    I have to ask myself why Peter Lawwell has been dragged into this story without a shred of any evidence being presented by the reporter.

    One thing I don’t get about the Rangers psyche is that they attack all and sundry who demand a stripping of titles before an LNS verdict but here we have from Ally exactly the same blinkered approach which no doubt will be lauded by Rangers fans – sadly I doubt if they will understand the point I am making.

    However will the SFA demand an explanation from Ally as to who these mysterious agenda-driven ‘inividuals’ are. Well, previous experience suggests not.

    But it seems OK to have another pop at the already banned Kennie Shiels with the latest news that Vince Lunney the SFA compliance officer is demanding that the Kilmarnock manager explain what he meant by his comment on Ne’erday when he was asked what his New Year wish was and replied “impartiality would be good”.

    So the SFA ‘thought police’ demand to know what Kenny means by an off-the-cuff jokey remark. Will the same path be followed in the case of Ally’s sinister comment which points to corruption by certain individuals at the heart of Scottish Football.

    We should all demand the names and that a full SFA inquiry be held into these serious allegations. Will it happen? Of course it won’t!

    • Bill Fraser

      Does anyone know the name of the award which ecojon has just won. After all, including “common sense” and “McCoist” in the space of 6 words has to be a first in the history of the English language.

    • not nearly dead but really dead

      not picking, but can we refer to title stripping as a CONSEQUENCE and start discussing what possible PUNISHMENTS might or more probably might not come out of this enquiry/whitewash, as far as i am concerned sevco/c.green/a.mccoist have played a blinder in banging on about tilte stripping, if all that is done to ‘judith chalmers’ fc is title stripping , it will be one more disgrace to add to this saga

      • Carl31

        …and could we also refer to any potential consequence as simply correction of the record books, rather than the MSM inflammatory phrase ‘title stripping’?
        If such a decision of the SPLIC led to it, I would expect as a minimum consequence, that the correction of the records of which club was the winner in any relevant year, would be carried out by the SPL.

  15. Clarkeng

    Oh dear Paul.
    With your history it was fairly obvious you did not understand finance.
    I was always under the impression that Lawyers were trained to provide objective analysis on which their Client could make decisons.
    I think you have perhaps embarked on a campaign to get the numbers up on here by providing a feeding frenzy to the great hordes of the unwashed.
    If so it is certainly working but it achieves what?
    Further segregation and bigotry?
    Have you any consideration to the effect this can have?
    Confession might not be enough to get you off on charges of incitement.

    • ecojon


      Would that be incitement to invest more in their club which charlie appears to state is going to make a loss. Seems to me that Paul should be commended for the assistance given in Rangers’ hour of need. Perhaps he might be even be offered hospitality and, if so, I look forward to the continuation of his hospitality post series.

      • Clarkeng

        There are no further share issues announced yet.
        There will be I am sure once they are back up the divisons but that is three years away.
        Perhaps you can help clarify something.
        Why is the situation of so much interest to CFC supporters when the financial situation at their own club is in a similar position.
        Why do CFC supporters not show any concerns at losses in excess of £9.2m over the last three years.
        Do you think Celtic’s share price at a near five year high can be sustained next season if they fall at the first hurdle in the CL next year.
        Why do you think it is already falling from the five year high.
        Why should a 3rd div club be of so much interest – is it because the market capitalisation is bigger than CFC and based on jealousy.
        Rangers financial situation is reasonably healthy given what they have come through and the fact that they will make short term losses is of little concern to Rangers fans and shareholders.
        The Rangers Prospectus is or was a regulated document and conveyed the information required by these regulations.
        Similarly a Financial Statement is made to the Stock Exchange before public release.
        CGs comments are only that and it is nonsensical to make anything out of them.

        • ecojon


          I will answer your questions to the best of my abilities and during half-time of a great game btw – I know you won’t be watching.

          I think that you are approaching this from the wrong-end. I know if positions were reversed the same things would be happening in reverse and so do you. I would like to think that Celtic fans would be questioning and looking for answers to the many many puzzles that seem to exist.

          Whether they were or not I would be keeping an eye on what Rangers was saying to see if they had picked-up anything that miight help the Celtic case. Yea I might be annoyed at the pressure but I would be attempting to hold my club to account. I have lived through Celtic almost going under and I have always ympoathied with ordinary Rangers fans.

          I know how gut-wrenching it is but we got Fergus and you’ve got Chucky – need I really say anymore 🙂


          Where to start? You say: ‘CGs comments are only that and it is nonsensical to make anything out of them’. Really, as CEO of a public company chucky’s comments don’t matter. Fair enough it’s a point of view.

          You say: ‘Why should a 3rd div club be of so much interest – is it because the market capitalisation is bigger than CFC and based on jealousy.’

          I have made my position on market capitalisation clear in a post above. Jealousy of Rangers market capitalisation I hardly think so as I am more interested in my team’s football position which I think any objective Rangers fan might well be jealous of and I wouldn’t blame them.

          Rangers is of interest to me as it threatens to destroy Scottish football so I think that should interest most Scottish footie fans. And after all why would I ignore a currently Scottish club, no matter what division they were in, with a 40-50k support.

          You ask: ‘Do you think Celtic’s share price at a near five year high can be sustained next season if they fall at the first hurdle in the CL next year.
          Why do you think it is already falling from the five year high.’

          Attempting to discern what affects a share price can be difficult and I have no idea whether CL performance in itself would affect the Celtic price. Certainly to go out early would affect revenue which could have an affect.

          The five year high you speak of I believe is probably more to do with the Rangers float sparking interest among non Celtic fan investors who might, on looking at Celtic and Rangers, have decided that Celtic was a better bet to invest in. A drop from the ‘high’ is probably more to do with profit-taking by transient investors. Trust me it happens as Rangers will find out. The Rangerss share price started at 75p on 19/12/2012 went upt to 95p by the end of the year and had fallen to 85p on Friday. Who knows whither next?

          You ask: ‘Why is the situation of so much interest to CFC supporters when the financial situation at their own club is in a similar position.’ I don’t really intend to attempt an answer as it would be lost on you if you genuinely believe both clubs are in a similar financial position. It might be more relevant to ask yourself why some pointed financial questions weren’t asked of chucky by the leading 300 Rangers fans on Wednesay night who only seemed to get a guarantee on seat colour. Didn’t anyone have the gumption or nouse to question the seeming £10m AIM discrepancy.

          You further ask: ‘Why do CFC supporters not show any concerns at losses in excess of £9.2m over the last three years.’

          I think that Celtic supporters have complete confidence in the corporate governance of Celtic and its financial position. We have an excellent CEO in Lawwell and Dermott as major investor. Do Rangers honestly think that chucky and mystery offshore investors match-up 🙂

          If we needed to raise £9.2 million we would sell a player and Rangers don’t have that luxury. We also have bank facilities – which Rangers keep boasting they don’t have – and by the very nature of the cyclical financial nature of football clubs there is no problem with debts as long as they can be serviced. There is also the difference in turnover that we have with Rangers – a BIG difference,

          • Clarkeng

            Oh where do I start.
            I have watched the game and thoroughly enjoyed it.
            Steven Thomsons goal was outstanding.
            Do you think there will be further downward movement in the share price to reflect the duds Lennon has bought.
            Do you think on todays performance that Lennon should keep his job.
            Personally I think it is a bit harsh to judge him at this stage and would prefer he was given a long spell at CFC.
            The fact he can only win tainted titles just about sums it all up.
            Does this seem a bit harsh and suggest I have a one sided agenda.
            Now you know how it feels to read the majority of ridiculous posts on here.
            Well done St Mirren you tanned their arses!!

            • ecojon


              Always the same with you – you can control your bile for a while and then it slips out. Why do you continue to read the majority of ridiculous posts on here if they upset you so much. It would appear that you are an obssesive masochist.

              As I posted earlier St Mirren well deserved their win and were the better team on the day. I wouldn’t worry about Lennon’s tenure if I was you as I think Ally is the one more at risk but time will tell and either way if a player or manager doesn’t cut it at Celtic then they’re out the door same as any football club – well perhaps not Rangers.

              I would get the revolving doors fitted at Ibrox if you don’t already have them.

        • Bill Fraser

          “Rangers financial situation is reasonably healthy given what they have come through” and so it should be – they’ve just had all their debt wiped out. If the can’t make a profit this year then when are they ever going to make one? They are in a league they should have walked with a team of Long John Silver imperssonators and yet, even with a group of players earning wages unseen outside the SPL, the most incompetent manager on the planet is still greetin’ over the fact he doesn’t have a squad capable of winning the CL. Where the hell does he think the money is going to come from to buy and pay salaries (and, more important, NI) when even at their present low level, and given record crowds, they are losing money. Once their market value hits a high, the institutional investors wwill pull out, leaving the loyal fans, who will never sell their shares, with bugger all for their hard earned SS checks. True brus.

    • Arb urns

      @ clarkeng

      As the old saying goes ‘the soaps in the post’ . Recently did a piece of work for a club in the league above c’s x1 they start the season from an income projected to b 27pc below chicos basic salary alone, they don’t make losses .could Chico b heading for a 2nd red card from a stock exchange . Be really interesting to know how many shares are still in profit at the ‘penny share ‘ price of 1.5p.wee job for u this pm clarken.

      • Clarkeng

        @arb urns
        Did you check out the facts?
        I am not looking to score points.
        But is nice to think I brought a wee bit of light into the darkness of some previously unenlightened person.
        Explain that last bit again ( I genuinely have not understood ).
        BTW thank you for the compliment even if backhanded it tells me I am scoring some but I can assure you the legend exists only in my own lunchbox.

        • arb urns

          quite a few of the recent shares were issued and paid for @1p per share c. it would be interesting to know how many and to whom. these ‘investors’ can wait till the price drops to 1.5p at least till its a money back only situation. hope u enjoyed your lunch

          • Clarkeng

            @arb urns
            I will research and get back to you.
            Lunch was quite spectacular thank you.
            Quite unexpectedly so.
            But it was a long lunch today – took a whole ninety minutes.
            Not a drop of indegestion though.
            Indeed have broken out a bottle to accompany and as I have started I will have to finish.
            Cin Cin
            Maggie says that is pronounced Chin Chin for the heathens amongst us.

  16. Den

    This is not way that key Financial information should be communicated. It raises questions as to the viability of the Company.

    At the time of the prospectus the fall in revenue must have been certain, the decision to retain key staff at huge expense for a club in their position must have been made. These were pertinent to an investment decision and should have been in the Prospectus.

    A loss with £20m of negative goodwill (purely bookkeeping adjustment) is serious. Makes you wonder about the cash flow situation is.

    • ecojon

      @ Den

      I have never seen anything that actually explains – to me at least – just how the original investors have been rewarded and whether they still have payments due to them. That issue might be a key as to any financial conundrum – but perhaps not as the key might be the one to the warchest 🙂

      It’s the old optimist/pessimist one about whether the warchest is half full or half empty or even just a hologram which the new media department is still struggling to construct.

      • Den

        There is not enough information to know how the original investors would get their return nor subsequent institutional investors. I suspect that they will though.

        The biggest issue is if there is enough money in the kitty to fund the club or are they heading for another insolvency situation. As a taxpayer I hope history doesn’t,the repeat itself.

        Even 20 million from the flotation will not last long if Rangers are going to make a loss this year even given the benefit of Negative goodwill. It suggests they are spending at a much faster rate than they are earning it. I Am assuming that the ten million number was an error on someone’s part or else there was blatant dishonesty previously.

        The next set of accounts should be interesting.

  17. JimBhoy

    My Big rangers supporting mate and his pals walked out of ibrox at halftime yesterday, disgusted by what was on show and the feckless Sally…. I don’t claim to know or even want to ponder the financial state of rangers BUT i do believe that football results will determine rangers fate more than any other factor and that is something Chico can do nowt about.

    I am sure Chico knows running costs will increase as his team move up the leagues, this will come down to the fans to subsidise in various fashions so results will drive the fans interest or lack of at the end of the day.

    I am sure chico (the riddler) will continue in his present MO until someone asks him to back up his ambiguous bluster with cold hard facts.. At present the media are happy just to write anything as their sales figures diminish.

    My summary from last week… The goalscoring floodgates are going to open for Sandaza, Rangers have toughened up to life in the 4th division, the 4th division is the same as the SPL… 🙂 Aye right..

  18. Paddy Malarkey

    What BlackGoosey and Clarkeng need to remember is that it’s not just the old Rangers supporters who bought shares in RIFC andthat these other shareholders ‘views have the same import . As i’ve said before , I am one such but will probably give the AGM a miss as I foresee problems when the dyed-ithe-wool support realise that the club is no longer wholly theirs and dissenting views are heard from the floor from shareholders who won’t tug a forelock to those in the “Big Hoose”.

    • Clarkeng

      @ Paddy
      I made the point last week that neither club’s executive decisions had ever been wholly or in any way influenced by the fans, even those who were or are shareholders.
      Both clubs have always been under the control of the major shareholders whether they were in majority or in conglomerate with their own interests at heart.
      The problems to come will not necessarilly be any different to those which have always been apparent.
      The belief that either set of fans has any say on these clubs are run is nothing less than fantasy.

  19. In the old freewheeling days owners and managers of clubs could say anything they liked, but officers of a company have to answer to a higher standard. Mr Green seems to feel he can say anything he wants, but when he and official outlets refer to the financial health of the company (and I don’t care which company) thin ice is being trodden. The signs are not good, trading at a loss will soon cause cash flow problems, but we learn little because the MSM will not ask the right questions and will not press for answers. Thus we get this kind of speculation.

    I am a patient person and am prepared to wait for further and better particulars. I would urge others to do the same.

    And now for something equally balanced “The religious divide only broke down in the 1990s,but their fans are quite backwards thinking and feel no shame in carrying on,in spite of both teams fielding all religions.Scotland is a lovely country with friendly people,but they should hang their heads in shame by carrying on with religious intolerance in today’s modern world.” This was written 4 years ago by someone from London. Nothing changes it seems

    • Clarkeng

      Violet for your last paragraph I have awarded you the accolade of 1 TU.
      You make absolute sense.
      On a more personal subject :-
      what will you do with the hairnet now that you have a halo?

  20. Clarkeng

    Does this mean that as St Mirren have gubbed the team that beat the best team in Europe that St Mirren are the best team in Europe,
    Is that no what the great unwashed insinuated recently.
    Works for me.

    • the brain dead hath spoken

      • Clarkeng

        Tommie dont be like that.
        Ive got to deal with all of your mob on here.
        Its a big job and a dirty job but someone has to do it.
        Just go hame and kick the wife and the dug.
        You’ll feel much better tomorrow.

        • Den


          Even allowing for some provocation your last two lines were unfortunate.

          I am sure you didn’t mean it and you should retract them and hopefully no more is said.

          • Clarkeng

            I take it you did not mean that he would feel much better tomorrow and my fond adieu.
            No Den that was my poor attempt at humour.
            Perhaps it was in bad taste from a female and a canine point of view but it was humour nevertheless.

    • ecojon

      @ Clarkeng

      On the day St Mirren was certainly the best team and deserved to win. If you meet them in the final and beat them then you’ll be the best teaam in the world and that’s offishal. But you already knew that so there’s no change there 🙂

      But that’s football and that’s why people who have no life outside of it tend to get all bitter and twisted when their team is beaten. Triumphalism and visions of world domination can be heady stuff.

      • Clarkeng

        You are so right.
        I do like a pint of Harvieston Bitter and Twisted now and again.
        Prefer to miss the other if possible.
        It is only a game and is not anything else.
        Maybe one day it will all disappear but I wont be holding my breath.

    • Den

      Ask the great unwashed.

      • Clarkeng

        What is your opinion on the current state of the divide and what would you do to resolve it.
        Question asked.
        Answer awaited.

        • Clarkeng

          For the record that was also my attempt at humour however I would be greatly interested in your point of view especially if it advanced a possible solution to the issue.

  21. Surprise surprise, yet another vile attempt by an irsih immigrant to tarnish my great club. One question…why did you not leave your Rangerstaxcase site up??? sued much for lies and slander?? you should know better, after all you claim you are a legal mind!

  22. Clarkeng

    Its all gone quiet over there
    Oh its all gone quiet over there
    Where is everybody this afternoon

  23. CCL

    A football club or at least the owners of it making a loss isn’t big news. Most “big” clubs (or their owners) make a loss but these are covered either by banks or by millionaires with an expensive hobby. What’s interesting about Mr Green is that he intends to make money out of Rangers and is not shy to say so. So how is Rangers financed, given that expenditure outweighs income? It cannot obtain a loan and there are no millionaires wanting to lessen the weight in their pockets. This would appear to have been solved by the share issue.However, James Traynor states that there is £10 million in the bank account and not £27 million. We definitely know that the supporters purchased £5 million. So is there a question mark over the £17 million. Could it be that the big financial investors didn’t invest as much hard cash as stated? Shares were definitely “sold” but the question must be whether there was any actual consideration transferred in return for the shares.

  24. cam

    Absolutely gutted at Andy buckling under the pressure today.Novak is the best example in sport today of an opponent who will not give in.
    When the feather dropped from the sky and Andy double faulted the match turned in Novak’s favour.
    A magnificent performance from both gladiators and Andy will know he had him on the rack but didn’t finish him off.
    Novak Djokovic is one of the most gracious of champions and deserves everything his brilliance and attitude brings.
    Went to bed and awoke to the great news of St Mirren horsing the Tic,so that cheered me up.
    Budsillier will no doubt be hooping it up.He couldn’t lose today with his two favourite teams.
    SuperAlly has gotta re-motivate his team who are obviously aware that when they win this league then it won’t matter, if the Coyote backed plan for re-arranging the deck chairs goes through.
    Ian Black as i’ve said before should be put in a taxi for the rest of his contract.A complete and utter diddy of a human being.
    On the blog subject? pffft! The hounds are chasing the silver Chico fox and the huntmaster is directing the chase.
    The PR battle rages on.

    • Ally McMoist

      “SuperAlly has gotta re-motivate his team who are obviously aware that when they win this league then it won’t matter, if the Coyote backed plan for re-arranging the deck chairs goes through.”
      – Your statement smacks of paranoia that Lawell somehow runs Scottish fitboh!
      How won’t it matter when Rangers win the 3rd div?? The players would win a 3rd div winners medal this season & a 2nd div medal next season & the same amount of medals all the way up through the leagues. Nothing changes on the medals front. The only slight drawback for The Rangers would be that they play some of the teams they played the previous season. What’s the big deal with that when most of these players are used to playing the same opponents 4 times a season when they were in the SPL? Sounds to me like The Rangers fans are only humpty coz they don’t get special treatment to skip a season in the lower reaches.

  25. http://rangers.co.uk/news/opinion/item/3229-game-en-title-d-to-better

    Reading this my patience is stretched to breaking point.

    Forget LNS it’s time to review that conditional membership.

    • ecojon


      And Kenny Shiels gets dug-up by the SFA for his New Year wish – I think the inmates are definitely running the asylum.

      I can hardly believe what has been written. The sooner they depart for postures new the better. Please please let their be some league daft enough to take them.

  26. @Clarkeng … Not surprising. If like me everyone is shell shocked …..
    1st Andy
    2nd St Mirren
    3rd Brentford
    4th Leeds
    5th Oldham
    6th Rangers FC apology/justification
    7th Traynor …….. !
    8th My Tax Return … gulp !

    I’m feeling dizzy

    • Clarkeng

      Aye as Paul mentions in the next subject coupon busters galore.
      On the Rangers and the Traynor thing I think there is a bit of posturing going on – we’ll see what happens.
      On your Tax Return – pay up and look happy.
      Sorry mate I dont know what else to say.
      I have the same problem every year – I am sure there is an MP or two personally sponsored by me.
      Try gulping a copious amount of the tipple of your choice.
      In situations like this Bitter and Twisted is allowed.
      It numbs the pain.

      • Lol, … cheers …. had me tipple …. absolutely agree that it is posturing, have clearly understood the angle CG is taking for some time now … am always happy to pay up and you are right …. feel so much better for it …. just wish others would do the same !

  27. lord mac

    was the issue of the penny shares as that is only now in paper form.
    The valuation has and will show there is nothing in the bank account the penny share could be corporate money old owners who lost money in the last ownership ticutus ,king , and whyte, and murray, as no new company would give away 1 penny shares it was thought there would have been a massive up take in shares and the only way now rangers are going to be worth there projection is if some sheik comes in and buys all the shares then turn the paper shares into capital, if your income coming in is limited penny shares aint going to help, come they day they try to take them out to sell you will need a buyer to give you a pay day, and as there where far to many penny shares issued there is only going to be the one buyer, and if any one was going to try and do that, he could bid for the club for just now say £20 million
    but if he holds out he could get rangers for less

    • Clarkeng

      @lord mac
      WTF are you talking about.
      Do you know anything about stocks and shares or in particular about the Rangers issue.
      If you dont and your just rattling your gums then dont.
      Its all getting a bit tedious.
      What about CFCs penny shares is it the same for them.

      • lord mac

        you can issue penny share when you are winning not when your loosing
        penny share are only penny shares till some dafty buys you out and if you can only raise 22million where would you think any more money is going to come from the guys that have the penny shares will trouser that and rangers will be back to square one, but dont let me tell you as it is
        as yous dont listen, you have your board to keep yous right.

  28. dan

    Excellent result for the Saints. Thoroughly deserved their win as they were the hungrier team: also the final will mean much more to them than it would to the wonderful Glasgow Celtic who are in the last sixteen of the CL, sure to win the SPL title, and, if their mind set is right, the Scottish Cup. As to the bigots above who revel in any defeat suffered by the glorious Glasgow Celtic (forgetting , as they are wont to do, the shambles that was the game against the van drivers, navvies, and handymen, of Montrose) I would relate to them an incident that will go the the grave with me, concerning, as it did, a spectacular backfire on two drunken specimens drawn from ‘ra peepul’ who revelled in just such a defeat for the most excellent Glasgow Celtic.
    The occasion was the first Old Firm game after the wonderful Glasgow Celtic had become the first British side, and as yet the only Scottish side, to lift The Big Cup. Oldco Rangers had won 1-0 courtesy of a wonder goal by Orjan Personn. That evening I was on a double decker bus in my home town heading out to meet my girlfriend (now my wife of some forty four years) when ‘ra peepul’ got on board. ‘Heh!’ Said one. ‘If ray ur ra Yoorupeen Champions, whit diz rat make us?’ And almost to a man and a woman on the top deck of that bus came the response, and in unison: ‘Fucking lucky’.
    Not another peep was heard from ‘ra peepul’—-and that was at it should have been. For history has shown that the wonderful Glasgow Celtic went on to dominate the game for years to come, without the aid of financial doping or tax dodging, and appear in yet another European Cup Final. Consequently, I firmly believe that history has a way of rewarding the righteous and punishing the undeserving. And who but cheats can be more deserving of history’s harsh sanctions?

    • Clarkeng

      Dan buddy.
      Thank you for that remarkably unbiased account of the type of hooliganism we ra peepul have come to expect.
      So you think it is ok for you, your burd and the rest of the upper deck ( note the correct terminology ) to gang up and bully two guys who had just seen their team gub the best team in Europe ( FFS wis that no last month they were proclaiming that ).
      As I recall Persson’s goal was a screamer and worthy of any and all accolades.
      As for history rewarding the righteous clearly you were right.
      It happened today.
      Lets not go into the foibles of the seventies – its no pretty.

      • dan

        Clarkeng. My ‘burd’ was not on the bus, as you will note if you read my post (try sounding the words if you have any difficulty). As for history rewarding the righteous and whupping the ass of the undeserving—-remind me again, who is languishing in the turd division?

        • Clarkeng

          Dont be a bad loser now.
          It was probably good for Scottish Fitba and its sporting integrity.
          Here’s a wee question for you.
          Why dont you support your home town team.
          Why do you feel the need to come into Glasgow and pollute it with your bigoted views.
          Just asking.

  29. COYBIG

    £8m from season tickets, £5m from fans and £17m from institutional investers via an IPO, plus £20m negative goodwill. But The Rangers, with no debt, are still running at a loss? That’s got to be a World Record.

  30. COYBIG


    “Your honour, it was only the 5 people that my client murdered. Therefore he pleads not guilty and we think that all charges should be dropped, as it’s just a waste of time quite frankly. Why is everyone laughing?”

  31. George Galloway will no doubt have enjoyed Charles Green lending weight to his view that new Rangers should be pursued for the tax owed by old Rangers. They are the same company afterall. They must be. Explaining why the company are currently trading at a loss,

    Green said: “The company is currently trading at a loss and the reason for that is our income is halved from coming out of the SPL and Europe and going into the Third Division.

    There we have it. The companys’ income has halved due to the reasons stated by Mr Green. Not “the new companys income is half of the old companys income”, rather “our income is halved etc”

    So saddle up Hector, the chase is on again!

    My sincere congratulations to St Mirren today, they thoroughly deserved their victory. Well done indeed.

    And finally, this obsession some Sevco fans have with so called “Rangers haters” is getting ridiculous. Could I please ask once again that anyone describing another person of being a “Rangers hater”, clearly state their feelings towards all things Celtic whilst doing so. Then look up the meaning of “hypocrisy”.

  32. arb urns

    @ coybig and martin

    Jim Traynor hero of mine- Mr T read what you have just written, really read it switch the light bulb on and THINK. read it again if you need to.

    you have just told the world and his or her brother that possibly ONLY 5 of the contracts complied with the SPL rules. ONLY 5 James, ahhhhhhhhhhh thousands will sleep soundly tonight knowing JT has delivered.

    did u get permission james to link that picture of the SFA’S stadium on RM to the article that is critical of the SPL commission and by connection the apellate body of the commission.

    ahhhhhhhhhhhhhhhhhh the relief maybe only 5 contracts contained full details of all aspects of service contracts at rfc/mih. keep up the good work jim. fine job sir. IMHO of course

    • @arb

      Just been reading that article, and this caught my eye:

      “It was wrongly reported in one newspaper that Rangers Fans Fighting Fund would be willing to use their money to pay legal costs should Rangers Football Club plc, or to be precise, RFC 2012 plc, the company which sank into liquidation, lose. In fact, RFFF have agreed to pay only the bill of the legal team defending the plc.”

      So they’re gonna roll up & say “We, who have no legal standing in this matter, are willing to pay the cost for RFCRIP’s Counsel (as no other bugger wants to represent them,) but if they lose yer ontae plums for costs.”

      That’ll go down well with the learned Gentlemen I’m sure.

  33. Pingback: Did Charles Green Forget He Runs a PLC Now? Did He Err Making a “Loss Forecast” Outwith the Rules? | Random Thoughts Re Scots Law by Paul McConville

  34. Geddy Lee

    Sadly, when your target audience is so complient, you can say anything and get away with it. Hence the veritable tidal wave of “untruths” uttered by Green on an almost daily basis. He can make these statements in the full knowledge that the “Laptop loyal” would not dream of taking him to task.

    Will be interesting to see if the “Institutional” investors react negatively.

    Does any “the rangers” fan seriously believe that Green is going to hand McCoist 10 Million once they are allowed to start making deals again? Anyone at all ?

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