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Rangers are Rocking; Scottys Financial insight inside.


Speirs  

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  1. 1. Was Speirs talking the truth or lying

    • Yes
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    • No
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First part from King's letter to the fans, speaking from the hearts. "2nd part from an interview he did a while ago. Not like King to be caught out lying through his teeth

Using the Mail to make a point about liars, hmmm.

P.S SNP suck!

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a0d7642e6dd3987ef9de2ebfc2d51f16.jpg

fcd8c8c0974888a3a7e99a3d6686dac7.jpg

First part from King's letter to the fans, speaking from the hearts. "2nd part from an interview he did a while ago. Not like King to be caught out lying through his teeth

Rather tame lie. Why would whether or not his father was a Rangers supporter be important?

And it does make you look a little sad and obsessed.

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That's a kind of double sided question, if it isn't important, why did he feel the need to say it?

Who knows. People tell wee lies like this all the time. If we all got called out on them every time there'd be as many arguments on the street as there are on here! ?
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The Rangers board has urged supporters to "trust" them after again admitting the club is not ready to repay Mike Ashley's £5m loan.

The Sports Direct tycoon called Friday's emergency shareholder vote to demand the money he handed to the former regime in charge at Ibrox in January is handed back.

However neither Rangers chairman Dave King nor Mr Ashley or any of his representatives attended the 30-minute shareholders meeting in the Bill Struth Main Stand.

The club's directors advised the 500 attendees to reject Ashley's resolution, even though it would see them reclaim majority control of the club's retail profits and ownership of assets such as Murray Park and Gers' world-famous trademarks.

They claim that even if Ashley succeeds in having his resolution passed when the results are announced on Monday, they will not be bound to act on it.

Director John Gilligan said: "We are asking for the trust of the shareholders in this matter that it is not in the best interests of the club or the business to repay the loan.

"Dave King, [director] Douglas Park and [investors] George Letham and George Taylor, if you count their share purchases, their investment in the business is over £8m. That's not a sum to be dismissed.

"This board in a very short space of time has faced challenges that need to be addressed brick by brick. We are in a stadium that needs renovating, have an office staff that has been completely reduced to almost impractical terms.

"But we have inherited fantastic people - trust us, please."

Vice-chairman Paul Murray led proceedings as he stood in for King, who is in London on "club business".

But despite being invited to address the vote by the Rangers board no-one from MASH Holdings, the company which holds Ashley's 8.92% shareholding in the Scottish giants, made the journey to Glasgow.

Murray said: "MASH was asked if it would send a representative to today's meeting. No reply has been received on that point.

"The board are surprised that having called a meeting they have not seen fit to attend and explain themselves.

"It would appear MASH sees no reason to explain its conduct."

Ashley went to the High Court in London on Thursday to take out an injunction gagging the Gers directors from revealing "confidential" details of the club's controversial commercial deal with Sports Direct.

Murray, Gilligan and company secretary James Blair were left to rebuff many of the questions they faced from shareholders.

Murray said: "Keeping shareholders and supporters in the dark is not something the directors are comfortable with but we must respect the decision of the courts.

"We will therefore have to refer any such queries to Sports Direct."

Gilligan did, though, reveal the directors had been served with the injunctions by sheriff officers to their homes on Thursday night.

Rangers added a second resolution to the agenda calling for the retail contracts with Sports Direct, which currently see 75% of profits from shirt and merchandise sales go to Ashley, to be renegotiated.

The figure would drop to 49% if Rangers were to repay the cash they have borrowed from the billionaire tycoon.

The generous retail deal, which according to the latest Rangers accounts made the club no money at all last year, was given to Ashley by former Light Blues owner Charles Green.

Several fans quizzed the board on whether former directors, including Ashley's allies Derek Llambias and Barry Leach, would face prosecution over the way they had run the club.

Blair replied: "The directors are actively considering all of the available options."

Murray, who confirmed the club hope to appoint a new manager early next week, also insisted the board were still "confident" they would be able to have Rangers listed on the ISDX market following their expulsion from the AIM stock exchange three months ago.

And he outlined plans to introduce a ban on the voting rights of shareholders at this year's AGM if they were found to put the club at risk of breaching SFA rules.

That follows the £5500 fine issued by Hampden chiefs after the previous board broke "dual-ownership" regulations by allowing Ashley's involvement with affairs at Ibrox.

Ashley's resolution also called for details of the loans given to the club by the Three Bears consortium to be laid bare.

Murray explained the £1.5m sum handed over just days after King took control of the club were "interest-free" with no fees attached.

He added the directors "will offer whatever finance the club requires to restore its position in Scottish and European football".

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