The Criminal, Adulterer & Bigot: RRM

The following piece is by Matt Lindsay who describes himself as a Chief Football Writer at The Herald. He professes to be an ICT supporter. He is as much an ICT supporter as Chic Young is a St.Mirren supporter. He is a bear in sheep’s clothing. He writes:

 
“TAKING over from a manager who has been sacked after a poor run of results is always easier than replacing someone who has been lured away as a consequence of the success he has been responsible for. Expectations among supporters are low. Whatever improvement the new man can deliver is invariably welcomed.

Exactly the same rule replies to club directors. The current Rangers hierarchy may have some difficult questions to answer about both their on and off-field performance at their annual general meeting in the Clyde Auditorium on Thursday morning. But it is unlikely they will receive too much of a rough ride from their shareholders given the heinous incompetence and questionable motives of the successive regimes which preceded them.

Craig Whyte, Charles Green, Imran Ahmad, Brian Stockbridge, Craig Mather, David Somers, James and Sandy Easdale, David Somers, Derek Lambias and Barry Leach have all occupied senior positions, if not, in all cases, positions on the board, at the Glasgow club in recent years. The mere mention of their names is, even now, enough to send a shiver down the spines of their long-suffering followers.

The ludicrous appointment of Pedro Caixinha as manager, the lavish and ill-advised recruitment drive the Portuguese coach was allowed to embark on in the summer, the failure to appoint a full-time replacement for him, the £6.7 million loss which was posted in the last financial year, the refusal by chairman Dave King to comply with the Takeover Panel ruling and the implications of that are all certain to be raised at the AGM.

Yet, those in attendance will still appreciate the benefits of being run by bona fide fans whose collective objective is the long-term stability of the Ibrox club and the acquisition of silverware rather than their personal gain or that of their paymasters.

The passing of Resolution 11 on Thursday will be hugely significant for Rangers going forward. It will allow the board to issue new shares without first offering them to existing investors. That will enable them to convert a portion of £12.9 million loans which are currently owed to their benefactors John Bennett, King, George Letham, Scott Murdoch, Paul Murray, Andrew Ross, George Taylor and Barry Scott into equity.

The resolution was defeated by just 0.4 per cent 12 months ago. But since then the amalgamated supporters group Club 1872 have increased their stake to 10.71 per cent after buying half of the 8.9 per cent shareholding which Mike Ashley owned for £1 million in June. It should go through on this occasion.

With Rangers also renegotiating the terms of their prohibitive retail deal with Sports Direct at a cost of £3 million after months if not years of complex wrangling there are grounds for cautious optimism.

Still, supporters deserve far greater clarity, particularly over what is happening with a new manager, than is currently the case. It will be incumbent on the top table to provide them with some much-needed answers. Barry Ferguson, the former club captain, summed up the feelings of many this week when he expressed his frustration at the lack of information coming out of Ibrox. “Somebody has to let the fans know what’s going on,” he told PLZ Soccer. “That’s not the Rangers I know. They lack class.”

It is only right that, after the tenures of Ally McCoist, Stuart McCall, Mark Warburton and Caixinha all ended in disappointment and failure, Rangers take their time to do their due diligence and identify exactly the right man to take over. A quick fix would be disastrous. Rushing to bring someone in and making the wrong decision can be, as has been shown in recent weeks, costly.

But it has been over a month now since Caixinha’s services were dispensed with and Rangers appear no nearer to making an announcement about his successor. It is an inordinate amount of time to take to bring someone in. It is little wonder there has been inevitable speculation over whether the club have the funds to pay compensation. Is that the stumbling block?

These Rangers directors are a vast improvement on those who came before them, but they must still be open and accountable to those who sit in the stands at Ibrox on match day.

Given what passes for reportage on the sports desks of the Glasgow tiles this is not a bad effort. However there is no need to break out the cigars from the humidor as it does not go far enough and is on occasion inaccurate and ill-informed. Just like Phil Macgiollabhain who dug himself a hole on Alex McLeish, blamed it on fictitious sources, and kept digging. How this charlatan is allowed to shape opinion is beyond my comprehension. He is The Citizen Smith of Irish Republicanism.

 

A joke figure who contends that his former employers, Sinn Féin, have been infiltrated by Crown agents and that it’s time to take up arms. I would give him credit for being able to spell Armalite but any delusion of a rifle being used by a man of 59 is a cardinal folly. Does Donegal require a Home Guard?

I digress. Readers of our site, The Sitonfence Speakeasy, have been apprised by real sources that the rogue board have put all their eggs in one basket and gone balls-out on McInnes. They have failed to turn his head. What Lindsay does not mention is that the new manager will inherit a divided dressing room. A WhatsApp cabal of Warburton signings and a phalanx of Caixinha mercenaries. Some of the latter don’t speak one word of English. Rangers Lite need a coach and an assistant who can articulate his instructions through the medium of Mime.

As The Mensch pointed out in his astute comment, there was no succession planning.  Lite are now left in the lurch and will field Murty in a blazer at the AGM. This is indicative of executives who are spending all their time fighting fires and not thinking ahead. Fires such as a slew of  unpaid vendors who are threatening legal action. Lindsay does not mention that RIFC are trading whilst insolvent and teetering on the brink of technical insolvency. How remiss of him.

Stewart Robertson is being blamed for the decision to hire Caixinha. There is a a critical mass calling for his head on the Change.Org petition ‘Stewart Robertson Must Go.’ Those looking for some bear on bear action don’t have to go to the woods.

Lindsay has been inculcated with the idea that Real Rangers Men, in any guise, are good for Rangers Lite. However arch criminal King, a man of convictions, was shunned by The City and, as a direct result of his self-serving ego trip, RIFC lost their AIM listing and all credibility in financial circles. The Takeover Panel are going to ragdoll this corporate criminal. It’s just a matter of time. As financial analyst David Low asserts:

Ignore everything you read in the SMSM; it’s the sports desks writing what they’ve not been told. The Takeover Panel will bring this charabanc to a halt on their own terms in their own time. Everything else is just messin’ witcha emotions.”

Will emotions run high on Thursday? Probably not. King is a consummate liar who will have the denim-clad unemployed audience eating out of his hands. Anyone for a hover pitch?

Lindsay also fails to mention that James Blair owns Club 1872, which is an anachronistic throwback to a club that has just entered the sixth year of its liquidation. Club 1872 will do the RIFC secretary’s bidding. He literally owns them. Even if it means diluting and devaluing their equity holding. Equity acquired by £18.72 monthly donations. How do subscribers feel about their equity being cut in half? They will rue the day that they voted for King, serial adulterer Murray and WATP Gilligan. A criminal, adulterer and a bigot. Real Rangers Men.

RIFC have been on the slippery slope since March of 2015. Corporate governance followed the NOMAD out of the door. Llambias and Somers may have not been glamorous but they had integrity and nous in spades. RIFC could have been lauded in the City. With King they are best avoided.

But then the Gullibillies don’t seem to mind having their eyes poked out as long as the cry is No Surrender.

 

 

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44 thoughts on “The Criminal, Adulterer & Bigot: RRM”

  1. The gullible people who donate $18.72 each month will allow themselves to be fleeced by giving their proxies to Blair Their money will not enrich the club but merely subsidise the directors who will recoup some of their losses. Not a penny enriches the club no money for a manager and no money for players and no wages next month.

    1. As share values get halved with a debt swap, it becomes the current shareholders who paid for the incompetent overspend not King and the three bears (4bears).

      The four of them got shares out of it to everyone else’s rip off investment devaluation.

    2. The allotting of shares in lieu of loans will not enrich anyone and there will be no recouping. The loan money is gone, never to be seen again. The value of the club remains what it is today, nothing changes, only the share fraction of the same value.

      The only thing I can think works is that the loans from the 3B gets converted to shares and NOAL somehow doesn’t and hence becomes the biggest creditor and controls the administration. They will be paid some money, but shareholders? – absolutely zip.

      The announcement of what money has been paid to meet the payroll this month will be the rabbit out of the hat – or maybe not.

      The atmosphere this time I think might be turning – not enough to trouble DCK – but enough to make it uncomfortable.

      1. There’s no alternative RRM standing with a warchest to vote for.

        If there was a new RRM with fake promises and a virtual warchest they’d vote for him.

        Keith Jackson even printed that he had talked to Whyte and he could exclusively reveal it was not one but two warchests for Ally to spend.

        Alas no more warchests, it’s all the way down with G&SL.

  2. Lindsay was the year above me in school up here in the Highlands and at the time was a very decent fella. From memory little interest in football, rugby mainly and possibly golf.

    He’s part of the weegia now though.
    It’s actually quite sad to read his articles these days. It’s not journalism but tepid rangers articles that always play up to the blue hoards by glossing over the real facts. It’s a sell out by him.
    Not quite sure how he’ll report after the AGM if it gets tasty?

    Great article again JJ

  3. The football writer from Inverness is diametrically wrong.

    The previous Board were much much better for RIFC PLC. They had a Billionaire who made loans as required, but they managed the new club more professionally. Careful not to fall into the overspend trap.

    Under Somers and Llambias the debt was limited to Mike’s £5m. Under this lot on a scroungefest it’s up at £20m. Which can never be paid back. Wanton irrational spend on debt.

    Today’s SPFL clubs’ average salary figures show that in spite of hugely dangerously overspending, Sevco can still only pay half the player quality of Celtic. How long can they sustain their irrational chase?

    Player loans from the EPL were imaginative and welcome. Now it’s all worse. They quite simply don’t understand how to run a football club. No NOMAD, no Listing, no exchange governance, ….no stock exchange releases.

    The Donegal Paper Tiger (DPT) is excellent value for money on Sevco, although his strolls down republican memory lane and attacks on a defunct empire provide the yawns. There’s no danger of opening the humidor for such chip-on-shoulder Emo soul baring. It’s not my cultural thing. I reserve my Cohiba wing-back chair moments for sitonfence speakeasy.

    Time for an Espresso Machiatto.

  4. The forthcoming AGM brings to mind (Club 1872) turkeys voting for Christmas. The Gullibillies will be well and truly fleeced as high risk director loans are trans-substantiated into equity. Accepting Resolution 11 will see the value of their own share-holding diminish dramatically, but then they clearly have faith in the vision, strategy and management of those directing the company.
    Media messaging worthy of Russia Today can be anticipated, and Lindsay’s hagiography of the current board is a worthy first contribution.

    1. Hagiography !
      Superb… I knew our craven media must have developed some skillset apart from just cutting and pasting .
      From Stenographers to Hagiographers.. what a career path Jesus wept!

  5. With the prospect of loans being converted to shares going to be passed at the AGM at what price would that dilute the share price to and how would this affect things
    should the Take Over Panel rule that Dave King has to go through with the offering of 20p per share ?
    How will the Club work out at what price the share price will be for the loans to share swap?

  6. All the names in those “senior positions” were around for less time than King and his cohorts have been. I find it hard that they can still use that excuse but then again King is rather shameless with a touch of Glibness.

    The current board appointed the last 2 + managers, disastrous appointments, nobody else to blame for that.

    Imo Big desperate Eck may still get the manager’s gig when Jabba times the PR spin well enough that the Sevconuts are just as desperate. I feel Murty is being hung out to dry in the meantime to aid the spin.

    Anyone know what happened to the RFFF money? I wonder if that found it’s way into King’s coffers?

    1. Ask Ally and Walter about The Rangers Fans Fighting Fund money. It was illegally collected in buckets by unlicensed collectors and they called it a charity when no charity was established at Companies House. It raised £1million and disappeared.

      1. The money was used to build a covered stand and new facilities for youths and their families at Murray Park

    2. King and trois bears will have been there three years in February.

      Even political parties don’t blame the last lot for that long.

      1. King learned his lesson from the ANC government who 23 years after the end of Apartheid still blame the previous government for its failings.
        Works for them with their gullible supporters.
        Seems to work for King with his gullible supporters.

  7. No money for players and wages next month is small fry………….would have thought the outcome of the BDO report would be the biggest worry for them going forwards.

  8. On a positive, as Sevco RIFC PLC never declares a profit and share price only drops, the Board will never face a scandal of insider trading.

    Can the SFA confirm, given the Sevco accounts, that TRFC/RIFC PLC do not come close to meeting Financial Fair Play Rules for a UEFA LICENSE and cannot possibly meet FFP in June 2018 as it requires an additional £4m loan before then?

  9. Do you think the guys that loaned the money will be doing somersaults knowing instead of getting cash back they are getting shares instead, if that was what the wanted, why did they not buy more shares when offered at 1 penny a go. King has them in a vice like grip and all he can offer them is shares that are now down to 10p will they cash in their penny shares to get their money back then again who is going to buy them. I say only a tax dodger would of set a loss

  10. The true cost of the retail deal is even greater than the 3mil reported when you take into consideration the cost of shares and any future agreement on distribution and retail fees. They paid to get out of a contract only to dive straight back into one with the only retail and distributor they know.

    the Club 1872 are a walking zombie, they’ll slash their voting capabilities in half and go from the 3rd biggest share holder to 6th whilst being a mil lighter in the pocket. along with lack of manager and the impending demolition by Aberdeen i can sense a few direct debits being suspended (and not just for Christmas).

    John, i appreciate you are a very busy man and have to keep many a source happy, but do you ever find yourself on YouTube watching the comedy gold that is cjnovo992 and snaggs? their channel is a wonderful insight into the self righteous, WATP, we deserve investment at no cost to our fans. I hope they also return the favour and visit your website (which is second to none) to discover the true state their basket of assets are in.

    keep up the good work,

    p.s it truly is unfortunate that you wont be able to attend the AGM. it would have been grotesquely entertaining to get an un(level 5)filtered recording of events.

  11. Question for the ‘financial/legal minded’

    How would a post AGM ruling from the Supreme Court affect Dave Kings order to buy shares at a set price? Will this be affected if share value is effectively halved through res 11?

    1. No. The price was set at the time of the original transaction based on the average price at that time and/or the price DCK paid. Subsequent share price rises or falls is irrelevant.

      Kings councel made an attempt to say that as the price of shares on very thin trading was more than 20p no one would sell. However if the price is or could easily be 10p or less then it could be a different story. Also I think DCK has been warned not to announce extra loans either from him or NOAL due to the pleas made at the CoS. Rather difficult to say he’s skint and has no influence on NOAL and then let them loan more money to RIFC. Hence the bind they find themselves in.

  12. Will anyone at Thursday’s AGM question King on the Lie in his Chairman’s statement in the accounts?

    Or query detail in the accounts?

  13. May I ‘posit’ that NO fans group in the world would allow their share percentage to be diluted just to put ‘Penny Shares’ in the hands of second rated spiv directors, who if they found someone stupid enough to buy them even at 2p would have doubled their outlay. MUGS the whole lot of them and they deserve everything they get as the “Club” won’t see a penny of it. Will King be looking to convert the £4,000,000 needed to see out the season into penny shares also, it would seem that he has actually found a license to print money.

  14. Hi JJ
    Good to see you showing Phil Mac G up for what he is.
    A Failed Social Worker who fled to Ireland , A man who wrote a book about Rangers based on facts that Other people had unearthed , A man who pretends to have insider info on all things Sevco.
    He is an out and out fantasist.
    For anyone considering whether to donate to JJ or Phil…Just remember that what JJ prints is facts !! , What Phil prints is nothing but guesswork.

  15. “The Criminal, Adulterer & Bigot: RRM”

    Certainly not establishment people.

    A parcel of rogues wrapped up in faux respectability. The veil has dropped and everyone knows what they are.

  16. I sincerely trust Broony and the Bhoys will pound Sevco at least 7-0 in the next game.

    The PSG result slagging from their Hobo ilk demands a footballing response.

    4-0 in first half, 3-0 in second half. Total 7-0.

    Would they turn on their Board for Xmas?

  17. I can only assume that Matt Lindsay from the Herald has been promised some match day hospitality in return for being a cheerleader for this beleaguered board. I further assume that, unlike most Scottish sports journalists, he doesn’t use this site as the first port of call for exclusives and insights.

    Mr Lindsay refers to the ‘heinous incompetence’ of previous regimes and mentions recent board members by name. I would like to know precisely, from him, what Messrs Somers, the Easdales and Llambias did to be accused of ‘heinous incompetence’. Somers had credibility and contacts in the City (King has neither as convictions for fraud don’t go down well here), the Easdales didn’t take a bean out of the club and Llambias provided real experience in running a club (he was actually getting costs down, which is a novel concept at Ibrox).

    Charles Green was responsible for throwing away IPO funds like confetti. Folks like Ahmed, Stockbridge, Mather and, yes, McCoist and Walter Smith were paid salary levels which were inconsistent with a tier 4 New club. However, that did not create the shambles which we are witnessing today. And for Lindsay to slate previous regimes at the club and to further suggest that the fans should be GRATEFUL that RRM are now at the helm beggars belief.

    It also misses the point. The regime which resulted in the old club ending up as a folder on a desk in Canary Wharf and awaiting liquidation had nothing to do with Somers, the Easdales, Stockbridge, Mather, Llambias. No, that club was run into the ground by SDM. Fiscal vandalism on a colossal scale and three of the current board members failed in their fiduciary duties in allowing it to happen. And those three custodians, Dave King, Paul Murray and Alastair Johnston are, remarkably, BACK at the same crime scene.

    The ‘heinous incompetence’ was rife under the stewardship of SDM and his inept and impotent board. And that culture of decadence remains to this day. This current board is leaderless and rudderless. The club lacks quality and class, both on and especially off the pitch. Promises to the fans have been broken regarding funding and transparency.

    This board has let the fans down in a spectacular way. THIS board is responsible for ‘heinous incompetence’ and for three of them, Messrs King, Murray and Johnston, this is their second run round the same track.

    1. TM
      Exactly ! and right to the point on the real incompetents and criminals in all of this

      Lindsay’s input today must be up there with the worst ever on this affair ..almost certainly all King AGM agenda BS fed by Traynor
      These media clowns should limit themselves to writing about questionable penalty awards and the like .
      For what it’s worth my own view is traynor has picked the Herald for this wheeze as the majority of the more articulate Rangers fans attending the AGM needing to be influenced are more likely to be Herald rather than the beano ie Sun and DR type readers

    2. As good a summary ,TM, as I have read on the original RRM who ran the club into liquidation, handing over the steering wheel to CW just before the crash. The fact that the governing bodies can turn a blind eye to the parts King, P Murray and Johnston played in the lead up to liquidation shows they are unfit for purpose. Unfortunately, the loyalty of the Rangers support to their club, is being royally abused. Would supporters of any other club have been so passive and easily led?

  18. Goodwillie and Robertson lose their appeal to the rape judgement.

    They must pay the £100,000 damages to their victim.

    Surely Goodwillie should be booted out the game now by the SFA?

    1. Please desist from posting using different names. You have been getting away with it as I have been busy with premium content. Consider this a yellow card. One more offence and your IP will join weird fishes like Hans in the automatic Spam file?

  19. Hi JJ – Good stuff as usual
    I’m afraid I’m a bit late to the party on the Craig Whyte stuff.
    I’ve been sending payments every 2 or 3 months and just sent another – this time only a fiver. (xxxxxxxxxxxxx3151)
    Does that qualify me to receive the stuff you’ve been sending to private emails?
    Cheers

  20. If all the directors buy penny shares, and if the company folds.they will walk away with 2. 1/2 pence a share that’s 1 1/2 pence profit for nothing, yet club 1872 will loose 21 pence a share giving them old money term tanner in the pound these penny shares are the Berry’s

  21. Chapeau to Highland Bear for the word of the day: hagiography !

    One topic that could take the heat out of the forthcoming AGM is the recently announced wadding.

    Surely a sizable chuck of the allotted AGM time could be taken up by discussions around this heaven-sent royal event: funds must be found for a red arrows flyover, armed forces abseilers, bunting, flegs, bonfires & empire biscuits.

    Let the people get their cake…

  22. With the utmost respect to TM might I add that, as with all things regarding RFC in Scotland, it should always be borne in mind that we are through the looking glass in this regard where up is down and down is up.
    It should be recognised that King, Murray and Gallus in Blunderland Johnston have, as RRM, continued the tradition of operating in complete contradiction to normal business practices and should, rightfully, be applauded for doing so by the assembled hordes as they continue the RRM tradition. I would also add that Matt Lindsay himself is showing all the great traditions of being a RRM by disparaging the correct business practices of the aforementioned respectable businessmen and trumpeting the bizarre, through the looking glass actions of the RRM of CCK, Barbers Model and Gallus in Blunderland who, with due respect to them have been consistent in their actions for many years now! Only in Scotland!!!!! 🙂

  23. Could I point out that the Establishment Club and their supporters deserve each other and I hope they are squeezed until the pips squeek.Roll up,roll up,spend,spend,spend….remember your tainted cups and titles.Glasgow is Green and White and it hurts you because you know it’s through honesty and every decent person despises you.Shares for Christmas,anyone? Hopefully,plenty of society’s Sectarians spend up to the max.Mugs.GF66

  24. JJ,I need to share with you…Not sure if it should be for publishing, Will leave it to your discretion.. Everytime I see decent minded people , Decent folk donate to Phil Mac Goila Bain…It really does question my faith in humanity…Im old enough and have been around the republican block long enough to realise that the man is the dictionary definition of Walter Mitty.
    Unlike Phil, I actually grew up in the early 70’s Glasgow amongst real active republicans…my teens and early 20’s were spent in the company of like minded individuals.
    I am aware of who he is..Back then there was all manner of young guns trying to be rebels…His case is a slight exception…He was obviously 100% behind the cause…However..He did send up red flags in the way in which he tried to carry himself…To put it in colloquial terms…He was a Gobshite…..this is a trait that has clearly never left him in over 30 years…Because of this….He was kept very much at Arm’s length
    He was seen as a useful idiot and allowed to continue, whilst never allowed any access whatsoever to the inner sanctum…
    He has managed to get his hands on an NUJ card whilst at the same time burning all bridges that would allow him to make a living from it…..He had a go at you for your living in exile!…This is the same guy that tried to play the victim card to the Scottish Sun Newspaper in order to make money.
    He also now has another persona..” The clumpany”..I know that initially you weren’t sure if they were both the same…Knowing now what you know and given the obviously similar style of writing and the fact that he is known for multiple personas…Do you still have any doubts?

    The devil in disguise

    1. Thank you for your comment buddy which shines a light on Citizen Smith. I had heard the rumours that he and TC were one and the same, a rumour that grew arms and legs when TC suggested that Smith would pick up his award; the award that I won. I wonder how the FBA organisers would view Smith if they knew he had two dogs in the fight? TC wrote a piece in the style of Smith, then made a joke of posting it under the wrong moniker. It was very convincing.

  25. JJ
    posted donation as per instructions. .have checked spam folder, still not received ‘exclusive ‘ on CW book.
    Anyway am reading all your posts out here in the’land of smiles’…enjoying a cold Leo beer…keep up the great work…getting to the end game now..surely.

    JJ: Sent again today. How many email addresses do you have.

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