21 Aug 2013 08:32:15
Lots of rants within these posts about directors and officials at RIFC taking substantial amounts of money out of the club. Hopefully this is not the case, however, if it is so then the police should be called in to investigate these so called allegations.
In order to make a complaint to the police a concerned fan will need to provide reliable evidence. If such a person is out there please contact the authorities and let the investigation begin.
I have said this previously, and I will say it again - McColl et al will be in control at RIFC very shortly. He and his shadow directors will go through every detail and put RIFC back on the top echelon of Scottish Football. McColl et al are the only people who have the ability to take this club forward, along with fan representation on the board.

Matt Crozier

1.) 21 Aug 2013
No Audited Accounts. so claims that £20m, or £30m spent are pie in sky.

Key question. have ibrox stands been repaired, as IPO stated £6m-£9m on that alone, if that money has gone to working captial. Then there is risk the IPO money is gone to other activities (legal, consultants. ) and in someone elses money

Worst still £137,000 was put into account of someone linked with Ibrox. now money laundering requirements are that the source of this money declared, and Green and Co have stated THEY don't KNOW WHERE THIS MONEY CAME FROM - or WHO.

2.) 21 Aug 2013
There's ways of taking money out of a club which aren't illegal:

1. As a director, you can set your own salary, bonus and expenses, and those of any other club employee or owner.

2. As a director, you can award company supply contracts to companies which you have part or full ownership of

3. As a director, you can sign up contractually to tie-in and penalty clauses with these companies which make it almost impossible for future directors to remove the suppliers without severe financial penalty

4. As a director, you can sell company assets (e. g. a stadium) on a lease-back deal at a nominal figure, with tie-in and penalty clauses to any third party company which you may partly or fully own, ensuring an ongoing revenue from company coffers.

5. As a director, you can award yourself preference shares in an share issue, and you can award these shares at a reduced price. This does not take money out of the company, but increases ownership of any company capital/profit

6. As a director, you can behave badly, recklessly and endanger the company, in order to intimidate other shareholders into paying you a price for your shares over market value. This reduces the amount of capital new investors have to invest.

3.) 21 Aug 2013
Matt, good point.

Unless MColl and Blin take over, then the present lot will bleed the club dry. The remaining cash will go and then they will sell and leaseback the assets at astronomical terms then when the club can't afford the lease rentals they will sell on the land including Murray park for vast profit.

Blin has thefinancial acumen and reputation to stop the rot and get the financial house in order.

and McCoist's not blameless - he's a shareholder also, and travelling to Stranraer and staying at the Turnberry Hotel! Come on -is he taking the Piss?

4.) 21 Aug 2013
McColl is not interested in increasing his shares or being involved with Rangers. Why do people keep posting this stuff. His quotes are a matter of record. {Ed001's Note - I thought he was quoted as saying he would be happy to be involved as a director etc, just not interested in buying more shares?}

5.) 21 Aug 2013
21 Aug 2013 14:28:47
Wher e is Gaz & Benedict tonight? Still in shock maybe that there own team have a few problems of their own to worry about. As both these gentlemen come on here with all the answers to Rangers worries I would lbe interested to hear how they intend to fix their own teams.

6.) 21 Aug 2013
@3 mccoist isn't the one who deals with the finances it's Stockbridge do He's the one who's what money goes wer do you honestly think mccoist went and said we away to Stranraer you need to get us a place to stay because I very much doubt it ally deals with the football side ( not the best tho) nothing else so stop the p*sh mccoist is to blame aswell

7.) 21 Aug 2013
McColl won't spend his own money he'll use yours instead, ever wonder why he is so rich mmmmmm.

8.) 21 Aug 2013
ED001/ He claimed his own business interests would have to come first and could not offer any time to Rangers as he owed it to his own shareholders. from a daily rag up here mind you so who knows? {Ed001's Note - ah ok, the quotes I read said different. The ones I read could have been old ones dredged back up, knowing newspapers I wouldn't put it past them, which is why I don't read them usually. I couldn't find any actual full interview with him putting any quotes into context either. Hence why I asked you about it.}

9.) 21 Aug 2013
Matt you appear to be missing the big picture here. we have been bleed dry Mcoll and Blin already seem to know this. Agreed Mcoll and co have the ability to put us in the top echelon but they have to get rid of the cancer that is still involved at every level in our club. Green and co still have the rights to a great number of company's our club are signed upto in soem form or another and these are the ones for the years to come who will be taking our money. Companys such as â– Rangers. co. uk Limited
â– Rangers Media Investments Ltd
â– Rangers Matchday Services Ltd
â– The Rangers Shop Limited
â– Rangers Financial Services Ltd

although seemingly dissolved appear to have been re named
for example, Rangers Retail Ltd, set up to be the joint venture between Rangers and Mike Ashley’s Sports Direct, still lists Messrs Green and Stockbridge as Directors.

And we also have Garrion Security Services Ltd. This was formed in September 2012 and its name was changed to Garrion in November. The original name? Rangers Security Services Ltd. The directors? Messrs Stockbridge and Green.
Mcoll etc know that to get rid of these company, s would take millions prehaps more, which they and us the fans woudl be unwilling to stomach hence the possible admin route to get rid of the whole lot and then new start with our ground etc being ours not theirs. Wakey wakey Matt we have been used and still are.

10.) 21 Aug 2013
@ 11 with them being sub company's can the club not terminate using them

11.) 21 Aug 2013
Not if signed upto long contracts that would need to be bought out. ie 10years or more? we won't know until the whole lot gets put out in open. and the way Mather etc are doing their buisness that may months to come and by then?more money gone.

12.) 21 Aug 2013
@11 the company's you are talkin have been dissolved apart from garrion

13.) 22 Aug 2013
22 Aug 2013 00:06:04
@5 don't worry nameless poster I am here. And yes Celtic do have serious problems but us fans know what they are. Our board won't spend a small amount of the vast sums of cash they have taken in over the last year to strengthen our team to ensure cl football. Should we have beaten that team?Of course we should. I believe we are out of the cl. But fact Remains your team has the opposite problem. You are spending money you don't have. And Will not have for a few years. I have been asking myself over the last few weeks why hasn't Peter lawwel splashed some cash. Money we have. Is it because is knows like everyone else that rangers are headed for admin 2 and Will not be in the top Scottish league for a while to come. If ever, given what's gone on the last 2 years and complete inactivity by the rangers support to stop it. Celtic could just be boxing clever. Keeping the cash knowing that additional tv and other revenues associated with the old firm won't be comming back for a long time.
Anyway we still have European football for a few months maybe europa is our level. let's be honest when Scotland self proclaimed biggest and most successful club get excited about beating stranrear. Should any team front that league be in the cl.
Benedict

14.) 22 Aug 2013
12)the bear82. think you will find although dissolved another entity has taken their place. we won't know until it all comes out. Do yuo really think Green and co would just dissolve and not replace. seem to recall Servco etc getting dissolved then becoming a new entity. That is how bad this has all become, no one knows who or what is taking all the money away? we don't lose the millions that we have without someone somewhere making a healthy profit. Green probably has his finger into everything possible at Ibrox that's if he hasn't already moved it on to one of his other company's.

15.) 22 Aug 2013
BEAR82 They may have been dissolved but that doesn't mean the contracts have not been moved on, do you think mr green woudl allow his goden goose to stop laying eggs?
Change name keep contacts as per. hence ourclub from Servco etc etc etc

16.) 22 Aug 2013
@12 mate go and check it would tell us if it changed its name like it has with rangers security ltd which is now garrion and as it does with sevco to rangers