AGM Damp Squib? Think Again!

Only those with no sources and a less than critical eye would have considered yesterday’s Lite AGM a damp squib. Have a look at the following photograph from the event at what is known locally as The Armadillo:

The individual to the right of The Bent Brief. James Blair, is from Campbell Dallas. The individual to the right of the inordinately bent Andrew Dickson is Lite’s director of football Mark Allen. King came in to the auditorium mob-handed. There was an attempt to gloss over the conspicuous absence of a first team coach. Apparently the search is thorough. So thorough that no fewer than three approaches have been made to McInnes’ agent. However what will happen if McInnes is a man of integrity and is true to his word? Let’s be crystal clear about the failings of this rogue board. Let’s point the fingers at Robertson, Dickson and Park who foisted an imposter with a line of soft credit on the Lite support and when his tenure began to unravel made no provision for succession planning.

King, as glib and shameless as ever, highlighted the fact that it can take 3 months to hire an executive at his bent corporate concern, which is listed on the JSE as MMI. However three months is a long time to entrust a professional football team to a youth coach. Had it not been for an appallingly bent display by Andrew Dallas,  Lite would have lost three games on the bounce and gone into Sunday’s game against Aberdeen with Tavernier and McRorie both suspended. I add the caveat that Lite would have abused the appeal process and that the Lite-facing Judicial panel would have rescinded both red cards.

No-one was accountable for performances on the park. They might as well have put a tub of lard in Allen’s place as he had nothing of value to add. Having dodged this bullet King then became cocky and had a mendacious go at The Easdales. King knows full well that David Somers was duty-bound as Chairman of RIFC plc to advise the Takeover Panel of irregular concert party activity. So what was he playing at? He was attempting to con the audience that they had made the right choice when voting for a convicted criminal as their Chairman, and simultaneously having a  sly dig at the only opposition to Resolution 11.

Given that King has denied voting rights to the Easdale proxy and arranged for James Blair’s Club 1872 to buy off Ashley, Resolution 11 is a shoe-in. When King disingenuously claimed that he was not at liberty to disclose the £3m pay off everyone knew that he was lying and had spun the outcome as a victory for his tenacity. Ashley had pulled King’s panties down and caned him until he coughed up. Had King gone to court Lite would have been circa £5m out of pocket. This is instructive of what occurs when a career criminal is given free rein in a PLC.

King pointed out that Lord Bannatyne had yet to publish his findings. When the former Scottish Lord Advocate, Baron Davidson of Glen Clova, who is a member of The Speculative Society and a 32nd Degree Freemason, asked a fellow member of The Craft for some leeway apropos King, does anyone have any confidence in Bannatyne’s conclusions? King anticipates the fix being in. One can but hope that justice will be seen to be done.

The main takeaway from yesterday’s conclave was that King is going to face the Cold Shoulder with impunity. He is not going to step down as Chairman. He is planning to maintain the lie that NOAL is the shareholder of the RIFC equity and that he is at Arm’s Length from this BVI trust fund. A trust fund that is curiously prepared to loan funds to a distressed company at his apparent beck and call. King stepped down from the board at MMI for the second time – the first time was to face racketeering charges – to insulate his company from The Cold Shoulder. However when it comes to RIFC he does not give a flying fuck. He might have conned the audience at The Clyde Auditorium but make no mistake about it this glib and shameless bastard is going down irrespective of any high jinks in high Masonic places.

In further news the quantum of the sale of Barrie Mackay, who was on his way to LB Leipzig for £6m according to Keith Jackson, was deemed bad management. Will Stewart Robertson be reprimanded? Of course not. The £6m fee was a a figment of Traynor’s imagination. Had he been sold for this quantum Lite would have recorded a modest 6 figure loss as opposed to £6.7m. It was a squirrel and we saw right through it.

Yesterday lit the touchpaper on a two-bob rocket in a milk bottle. Its trajectory is hard to predict but it’s safe to assume that The Old Lady of Edmiston Drive will have singed petticoats and eyebrows.

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27 thoughts on “AGM Damp Squib? Think Again!”

      1. I note the Daily Radar reports Celtic were “handed” a penalty last night, as well as being “handed” a penalty in the league cup final, and also reports that Calum McGregor “tumbled to the turf” after “a coming together” with the Motherwell player. It gladdens my heart that this jaundiced arserag is circling the drain.

        If this level of criticism keeps up, surely it won’t be long until the referees are calling another strike, with the full support of the Laptop Loyal of course. Obviously these are the wrong kind of “honest mistakes”, even when they are not mistakes at all.

  1. I disagree JJ, it was a thoroughly damp squib. Not even an indoor sparkler in fact. No parading of the new manager (it’s time for our SURPRISE STAR OF THE SHOW Gullibillies! …er…) and a stultifying recycled propaganda puff from the absentee landlord. The Club Tropicana members must now be wondering where exactly their monthly nineteen quid is ending up. They would get a better return by donating it to your good self.
    Donation PP ending 8502. Long may your unparalled disclosures continue.

    JJ: Let’s agree to disagree. If I had been there and had bodyguards I would have had a field day. Donation gratefully received.

  2. I sincerely hope the Armadillo got cash in hand. They might end up getting tuppence in the pound.

    Paul Murray was conspicuous by his absence. Is he out of favour with King? Or was he running about trying to scrounge the payroll together?

    The concept that if they play a bit better it will result in tens of millions of additional income is flawed. Bottom line; keep pouring in your private wealth to keep it alive, otherwise it dies. The The end.

    Reputationally, The Rangers are dirty and lack honour, honesty and integrity. Anyone from the Arabic nation’s, Asia or Latin America would seriously lose face by investing in the tainted vehicle.

    1. Has Paul Murray had fifty facial plastic surgery operations to look like Dave King?

      Is this so that “King” can talk without Lying?

      Has anyone seen them together in the last few months?

      On second thoughts, they couldn’t afford it.

      King said the new manager will be a long term 3.5 years employee. This was said of Warburton and Pedro. Nobody believes it anymore. Least of all potential managers.

      I predict another foreign dupe who doesn’t know what he’s getting into.

      They’ve had umpteen knock backs and it isn’t lengthy due to careful process.

  3. Hi JJ, just donated my usual £11 but used the make monthly donation via Paypal for the first time. It said it went through but looks different from this end. It didn’t give me a reference or an opportunity to send you a message as it usually does. Can you confirm receipt? I’m a bit concerned it hasn’t worked and if not, I’ll try again in a few days.
    Confused.com

    JJ: Went through ok. Cheers.

  4. Can the SFA and SPFL please assure fans that Sevco Rangers have not received advance payments, of any nature, over any other Scottish clubs?

    Such cash flow advancements would provide a Sporting Advantage over other clubs.

    Has Sevco Rangers petitioned advertisers or sponsors to advance them funds before due dates? Again this would constitute Sporting Advantage.

    Their barmy overspend strategy of operating a football club is doomed to failure.

  5. Morning JJ,

    Hope you caught the ‘debate’ on the AGM last night on Sportsound but if not it may be worth listening to the podcast to listen to the hilarious performances of Alex Rae and especially Richard Wilson!

    Commenting on his attendance at the AGM, Alex said numerous times ‘I would have liked to have heard more about…’ so if that was the case, why didn’t he raise his arm and address the Directors?

    The best bit for me though was listening to Richard Wilson say that, and I’m paraphrasing, ‘according to the Accounts, Rangers are close to trading at a break-even point!’

    Surprisingly, Chris McLaughlin took him to task by asking how can they be trading close to break-even if they announced another huge loss and require further soft loans to get through this and the following seasons?

    Wilson then stumbled about trying to justify it by saying that the £3m to Sports Direct was a one-off cost which of course Chris jumped on by saying ‘yes, but that still leaves another £3.5m to be accounted for’.

    Richard Wilson’s performance was truly embarrassing and he should be held accountable for his misleading comments…lots of ammunition there JJ for another article.

      1. Try ‘Browsec’ it’s free and available in Google Chrome Web Store. It allows you to change the location of your PC to GB.

  6. I digress, but there’s a lot of media push this morning on the Northern Ireland/Ireland border.

    May I offer my solution of twenty years?

    NI joins Eire as a unified country. (Eire has tons of Proddie citizens and they’re very happy there, why the reticence?). The unified nation then brexits from the EU and joins the United Kingdom.

    NI citizens remain British and Eire citizens send 70 MPs to London instead of 11 MEPs to Europe.

    Rural Ireland helps feed the UK and the UK provides business, educational, health and technical opportunities to Ireland. We both cut back our EU dependencies.

    1. Surely the EU should be giving us a £100billion refund on leaving the EU and not us agreeing a £40-50billion penalty to the EU?

      Let’s be honest. It’s simply a punitive fine to stop other nations leaving the EU. They simply cannot afford it.

      I’d rather give Ireland the £50billion if they join us in the UK. Where they once were for 700 years. The United Kingdom of Great Britain and Ireland. A single north European Archipelago with a singular perimeter border. Amen.

      That’s imaginative thinking.

      1. Dear oh dear. Read a book, why don’t you. The UK was formed in 1801 when the Irish Parliament voted

  7. Hi JJ
    DK stated ,when asked the question, that it would take Rangers 3 years to break even. So will they continue to trade at a loss and will this be acceptable to those responsible for the running of the game in Scotland?

  8. As far as I can see CCK got everything he wanted and required out of yesterdays Hug Fest. The business continues to progress, resolution passed to dilute shares and convert loans to equity. Big Bad Mike is history. No mention of Cash Crisis, Takeover Panel, going concern qualifications etc, its all good news. The attendant shareholders were pleased to hear it all, are now looking forward to hopefully even contributing more money to the club, the Laptop Loyal will diligently report the positivity and progress of the 145 year old club and alls well? The Directors are in control and progressing their objectives.
    Surely it is the job of a Director of Football to appoint a manager? Mark Allan was discreetly ( as are all things City) agreed to leave City following their 2 year ban from signing academy players as currupt practices, enhancements and no end of dodgy dealing was discovered. I am sure Mark is enjoying a new role where such pesky rules and regulations don’t apply. One word of caution though regarding poaching Managers. Remember what the SFA did to CFC when they found out CFC had poached Tommy Burns! If DMc resigns tommorrow and joins RIFC there could be a hefty fine coming down the pike from the Governing Body if it becomes known that RIFC has been dealing directly with the manager of another club without that clubs permission in a bid to save on the buy out clause! But then again, maybe not…

  9. West Ham’s 99 Year taxpayer cash giveaway deal regarding London Stadium getting ripped up.

    Taxpayers fund a £20m per annum overspend on the stadium and West Ham only pays a £2.5m rental which doesn’t cover 10% of operating costs.

    West Ham only contributed £15m to the £323m (utterly incredulous figure) conversion of the stadium to football.

    London Mayor Saddiq Khan heavily criticising the former Mayor Boris Jonson’s Remarkable taxpayer giveaway.

    West Ham never get to Europe so no breaking UEFA government aid rules.

    “London Stadium: Spurs bid to demolish & build new stadium cost £323m, £35m public money. Boris Johnson conversion for West Ham cost £323m, £291.5m public money.” Any kick backs going on there Boris?

  10. well they are still here so someone must have stumped up to pay monthly wages.
    Christmas top up sent jj 5VN05703VF27xxxx . Trust all well your end.
    Btw mysteriously my paypal donate button now works again.
    Tech is amazing when it works as wanted infuriating when it doesnt for no apparent reason.

    JJ: Thank you buddy. Your support makes it possible.

  11. Monthly £1 per day contribution made. Last digits 2913.

    As I’m an Aberdeen fan, I must observe that the first two goals were down to Tansey’s clumsiness and Considine not getting a tackle on the winger before the cross. Also Mr Christie was daft to get two cheap bookings.

    Dons were well beaten on the night. A lot to make up for on Sunday.

    JJ: Very kind. Thank you.

  12. John, Brilliantly written and very informative, this lot remind me of one the Rabbie Burns quotes “ a parcel of rogues” Have a nice weekend Neil

    Sent from my iPad

    >

  13. JJ you have called this from day 1
    It is hard now to conclude other than that the longer Dave King is “in power” the longer it will take the new Rangers to even begin the process of building a viable plan to catch Celtic never mind actually catching them .
    This board have demonstrated zero credibility on classic Corporate governance .
    I have no idea who all the characters were who were on the stage yesterday but what is clear right now to the general public is that they are completely out of their depth in managing (as what The Mench keeps quoting ) even a relatively small business albeit a highly visible one .
    If being Number 1 again is the aim as King inferred ( and for them it should be ) A high quality board would by now have in place and should have at least published an all encompassing plan to address how how they will achieve that and when
    None of that was available or even referred to yesterday in any detail .

    I would ask…Have they actually assessed this challenge rationally with independent professional validation?..if so where is it?
    I suspect when you factor everything in including upgrades on playing squad ,stadium, training facilities and end to end infrastructure the numbers are eye watering .

    My suspicion is they haven’t actually done this either properly or even at all and in reality are surviving on a month to month basis with their oxygen masks on . If this is so a quality business plan is a million miles away ..
    If that is indeed the case so are Celtic and Dave King and his board are as a consequence complete incompetents .

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