22 May 2015 11:31:09
I am 100% in support of the new board and no matter what they are for me people that actually want the best for Rangers now and in the future, I thought it important to state that.

The reason being I am starting to get 1 Annoyed 2 Worried by the 2 totally different sets of plans and promises we are getting from Mr King and I stress Mr King not the board.

Prior to the EGM when we as fans were needed to effect the removal of the toe rags from our board we were promised funding which was completely and I stress completely free of conditions such as Mr King's fit and proper person review. We were told that a NOMAD was in place and regardless an alternative listing format would be sourced if AIM delisting happened. The investigation of every Ashley/Green deal and contract plus all our financial dealings would be forensically 'accounted'.

There has been a fair amount of time since the EGM and all of these promises/commitments have changed in form.

I clearly remember King stating he was commiting "his family's inheritance" to his share of the funding for rebuilding, now today he states that he is not going to be putting that self same inhertance at risk plus he has stated in the last few days that he was going to reconsider investment in the club if he was not cleared fit and proper, before the EGM he stated clearly it would no matter if he was cleared or not he would invest regardless.

He is also now stating we should be thankful of Ashley's 5m loan. this is the same loan that we signed away swathes of our kit deal for and where security has been taken over Rangers assets plus club crest rights!

He stated transparency will be the number one virtue of the new board yet when asked NOW how much he will contribute to our desperately needed rebuilding process, and now when our EGM votes are not an issue he can't come of with even a ballpark number. mind you when you state a figure you can be called to task at a later date if it does not appear. actually he now, WORRYINGLY, brings up the fact he has lost £20million. hmmm that was Oldco Rangers where a lot of small businesses that could not afford it lost fortunes. why refer to that now when asked what he is actually going to PUT IN! Seems to me like a diversion tactic. The whole thing to me reminds me so much of politicians "vowing" to do all sorts of things for the community prior to an election then after being voted in reneging on these promises and coming out with political smokescreen speeches to divert attention away from their original "vows".

As I stated originally this board are better than what we had but I do not like the way that everything appears to have changed , the goalposts have been moved and I am concerned that it may turn out yet again that WE THE FANS will in fact be the funders of any future for Rangers by means of a share issue, assuming they can actually find a market for this issue , the usual season ticket purchases en masse and I fear we will be asked also to come on board with buying into the Puma kit deal funding Sports Direct after King possibly gleans a few extra percent of the deal in Rangers favour.

The £5million loan not being paid back allowing Ashley influence and control of Rangers assets is I feel a huge PR error on King's part too.

Things need to happen and they better be more in line with what was actually promised if King does not want to see us fans start to lose faith in him which could very easily happen I am sure he is praying for us to win the playoffs to take attention away from all these issues.

Comments Bears?

1.) 22 May 2015
22 May 2015 12:22:08
KT, A good post, from a bluenose, based on facts. I am just waiting on the completion of the play-offs before throwing my tuppence worth in, as I think that our status for next season will be the key to investment.
I am glad that DK has 'come clean' on the investment he was proposing from his family pension fund, as the trustees would never have allowed.
My main concern, like you KT, is the non-clearance of Ashley's £5million and his hold on assets.
However, at the end of the day, Dave King is a shrewd operator and we must back his judgement as the alternatives do not bear thinking about.
In the meantime our 'job' is to support our team to success in the play-offs and then deal with what comes.

2.) 22 May 2015
22 May 2015 14:22:40
the part of his statement where he said he has alreay lost £20m is untrue he got most of his money back from s dm company murray sports

3.) 22 May 2015
22 May 2015 14:30:21
A good post KT and fully understand your concerns in King but I remain confident in our new chairman. In terms of the NOMAD, King has said he has one lined up yes but he himself cannot appoint a NOMAD, they have to be invited by the club which will, I hope, be a priority at the first board meeting. Also until he was declared fit and proper King wasn't allowed to act like the chairman so couldn't begin to investigate any of the Green/Whyte deals by looking through the books. I believe his comments about losing £20million the last time he invested in rangers were intended to reassure fans that he is investing for the benefit of the club and not personal gain. He has been quoted as saying the investment needed would be £30m over a medium-term period to take rangers back to the top however he cannot guarentee the short-term investment as it is dependant on what league we are playing in next year but if it is the premiership I believe the investment would be £20m short-term, spread throughout the club, with half coming from King's pocket. In terms of Sports Direct and Mike Ashley he has recently seemed to avoid the questions about the £5m loan and has said that the whole Sports Direct relationship is an issue to which he must attend. So although I have thought King has sounded good in his interviews, and is the way forward for the club, I was disappointed that he hasn't been fully transparent on Sports Direct so got to hope he will strike a good deal, hopefully getting the retail rights back in rangers hands. The important thing though as billy mentioned is to support the team through the play-offs, hopefully getting back where we belong which is when we can begin to rebuild as a club and begin to look optimistically ahead.

4.) 23 May 2015
22 May 2015 23:33:15
I can see merit in all aforementioned points. We can only assume that the. Brian Kennedys, George Parks, Lethams, Kieron prior are all open to chucking in cash at an open share issue which dilutes Ashley's share(which he can't increase anyway given dual ownership) I think we need I meditate transparency in the commercial implications of either buying or not buying merchandise. I understand penalties will be applied for what is not sold. So where is the tipping point of buying or not. Some advice or at least facts to allow us to make a decision on whether to procure that god awful home shirt, made for 2 bob, sold for 54.99 oh no that was the before sale price. -:)