The Club 1872 Con

“Club 1872 Meeting with Dave King
23 March, 2018

Club 1872 directors recently held a very positive meeting with Rangers Chairman, Dave King to discuss the possibility of Club 1872 taking up a position on the RIFC board. This was a preliminary discussion and various practical considerations were raised and examined.

The Club 1872 board wishes to draw members’ attention to two main points arising from the meeting:

1) The current one year term for Club 1872 board members is an issue that has been raised by a number of members over the past year. It is also something that was discussed in the meeting with the Chairman in connection with an RIFC board place. The current one year term creates challenges in progressing long term plans, and the annual election process causes a period of upheaval each year which disrupts crucial work in taking the organisation forward. It also impacts the aim of securing a place on the RIFC board as this position would not be available if it potentially had to be changed annually.

The Club 1872 board will shortly put a proposal to members to extend the term for Club 1872 board members and introduce staggered elections. The board believes this proposed change would help maintain stability and ensure the organisation continues to function properly through the election process. It would also solve one of the practical difficulties of securing an RIFC board place.

2) Despite being the second largest shareholder currently, members will be aware that a number of individuals have large loans in place with RIFC. These loans will shortly be converted to equity through share issues. This will mean that in order to maintain our position, Club 1872 will need to invest significant funds into Rangers over a number of share issues – most likely running into millions of pounds. Although we are very pleased with the reaction to our share issue campaign, at the current level of membership and contributions we are unlikely to be able to maintain that shareholding in the medium term.

If Club 1872 is to maintain its position we need thousands more Rangers supporters to join the organisation and invest in Rangers. If our shareholding position is not maintained then it becomes less likely that we will secure a place on the RIFC board. The organisation has to show that it can invest in the club on the same basis as the other major shareholders.

Club 1872 does not have an automatic right to an RIFC board place. However, following positive discussions we believe that we can secure one on behalf of our members if the organisation continues to grow and develop. We have added over 400 new members in 8 weeks. We have also raised over half a million pounds for the upcoming share issue. However, given the size of our support and the millions of pounds of investment being provided by other investors, the organisation needs to continue to develop if we are to meet our objectives. We would ask for every one of our members to help us in this regard by recruiting friends and family.

The opportunity in front of us has never existed for Rangers supporters. We have an RIFC board that is willing to work with us and the opportunity for supporters to become one of the major investors and voices in our club. That opportunity may not come again as the club continues to rebuild and gain strength. We would encourage all Rangers supporters to join us and ensure that collectively we are in a position to take advantage of this and ensure the support retains a big enough shareholding to protect the club for generations to come.

We will update our members on our discussions with RIFC as they continue and will shortly put a poll out to members on the subject of the Club 1872 board term.

We thank current members for their ongoing support.”

 

I have long accused Rangers Lite supporters of being stupid, but the level of stupidity being solicited by King and his lickspittles on the Club 1872 board takes the club orange biscuit. Much has been made of the  Corrupt Consigliere relinquishing his position on the board of the lickspittle satellite but little has been published to inform the Gullibillies that he owns the £2 of issued share capital and is listed as their Guarantor at Companies House.

Club 1872 is owned, bought and paid for by the RIFC Secretary. Do these individuals think that we all came down in the last shower?

I added red typeface to highlight a number of takeaways, viz:

Club 1872 does not have an automatic right to an RIFC board place : How fucking disingenuous can one be? Dave King became chairman by calling an EGM and appointing himself. There is nothing to stop Club 1872 doing the same and proposing as many members as they wish on the board. If they have as claimed an RIFC board that is willing to work with us it follows that they would have no objection to the second largest stakeholder having representation on the board.

Alternatively if an EGM did not solicit the required backing, they could take a leaf out of King’s book and threaten to buy shares from non concert party stakeholder unless a board position was forthcoming. Have they forgotten how King planned to impose himself on the board by using supporters’ season ticket money?

If Club 1872 had cojones that were their own, a big if, they could drive a board bargain with the £500,000 that they have in their bank account.

Given that Club 1872 voted to allow the board to print shares and money they knew full well that they would have to spend more to stand still. From the back of a fag packet if the rogue board issue another 100 million shares, bringing the total in circulation to north of 181 million, Club 1872 will require another 10 million shares to maintain their current 10%. At 27p that’s £2.7m.

So step right up Gullibillies and give us £2.7m so that we can cover King’s lies to the auditors.

This is a confidence trick. A so-called CIC votes to allow a board that owns them to dilute their shares and solicit £2.7m. If the Economic Crime Unit were not in such a shambles facing perjury accusations they should be all over this.

The career criminal who is no stranger to ripping off orphanages is now going after kids pocket money:

We would ask for every one of our members to help us in this regard by recruiting friends and family.

There are some who suggest that the Gullibillies deserve King. Some of the former dressed up as ‘Rhats‘ to denigrate the former board. I warned them from the very beginning that he was a career criminal who would stop at nothing to pick their pockets

I was called ‘An Obsessed Taig.’ I am not obsessed. I am an atheist. I don’t  need 20/20 vision to see this confidence trick as it’s staring everyone in the face.

 

 

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15 thoughts on “The Club 1872 Con”

  1. JJ

    Club1872 only have around 8k members…

    They can’t even get enough to fill the broamloan.
    This is a publicity smokescreen to convince the rest of the 100s of thousands of Huns that the fans play an important role in saving the club.

    Given the low numbers it would appear as if there are a fair few gullabillies who have enough of a functioning brain cell to keep away.

    Nevertheless…I look forward to the MSM proclaiming that Kingo and fans are united.

    The perfect storm is closing in!

  2. What is sad is that so many families, probably not awash with money, are going to be even poorer to help line Kings pockets and keep a corrupt Board in clover. I don’t think I’ve come across a body of people so gullible and ripe for picking before except for those in the Deep South putting their hands into a den of snakes ( apt analogy) or continually buying home made remedies off the back of a travelling salesman’s medicine truck and buying more because the first lot didn’t work. I should feel sympathy but they deserve it being so blindingly stupid. Wonder if they’d give money to a Nigerian Prince on the phone?

  3. Desperate times for the cunning (ham) con man. £2.7 million, how pathetic is that? A mere fraction of Morelos’ worth! The comedy continues!

  4. I’ve often wondered how far I would go to save my club and for that, I pity some Gers fans. However, if they go for this then he’ll slap it into them.

  5. This is a truly desperate attempt to keep the lights on It is futile. A sure sign of the final fumes being exhausted. Nothing can save them

  6. If the number of Club 1872 members is correct then the prospect of any form of fan control or influence at the club is extremely unlikely. I concur with the assessment that the current board are only sucking up to Club 1872 since they are on their uppers and supporters are the only option of cash to keep the lights on. If Club 1872 was genuine in being a mechanism for greater fan control, rather than controlled by a few chancers after a seat at the high table with RRM, it would use its position to drive a hard bargain, as Mike Ashley and others have done in recent times.

    As others have pointed out people, including supporters with emotional and financial commitments to their team, are going to get hurt owing to the irresponsibility of the Board.

  7. Fan control or influence at Ibrox is as likely as Lady Mensch preparing a bacon buttie for me for our Shabbat meal on a Friday. But it is an exhilarating thought. All those hospitality suites would be renamed to treasure the club’s proud heritage. The 1690 suite. The WATP suite. The FTP suite. And, for the very well heeled, the King Billy suite. Not forgetting the importance of inclusion and diversity, I would add the Delmonica’s Lounge.

    Really, fan influence at the top table would be an utter hoot but I would have thought highly unlikely. One aspect of SDM’s reign of fiscal carnage was not just a sense of entitlement but his disparaging attitude to the fans. He despised them, including the corporates. And that attitude to the ‘loyal’ fans remains to this day. King has played the fans for fools and he has consistently lied to them.

    Surely some Rangers fans who read this site will actually understand that. He promised a war chest and investment levels which would enable the club to compete with Celtic AND in Europe. He has failed on both counts. When he leaves at the end of the season, if not sooner, his legacy will be one of broken promises, mediocrity both on and off the pitch, and a club in chaos.

    Asking the fans for a bail out following on from a deal with Close Brothers pawnbrokers just beggars belief.

  8. There seems to be a bit of Sevconomics going on with some last ditch , desperate cutting of the wage bill. With Krankjar being ‘resigned’ (the true MO will surface) this week it will be a minimal dent and has probably cost them a lump sum payoff, although whether this is actually paid is another matter. I will expect Cardoso, Pena and Alves to also accept their own resignations…

    Are they trying to stay afloat long enough to secure the UEFA license before ‘going admin’. ???

  9. You can fool all the people some of the time, and some of the people all the time, but by feck, you can fool all of ra peepil all the time.

  10. Good evening JJ, fascinating stuff, thoroughly enjoying it.

    Usual donation sent via PayPal, transaction ends 911N.

    Kind regards, brooklyncharmer.

    JJ: Cheers buddy.

  11. Why are the Bears apparently sleepwalking to liquidation. I look at their blogs and they appear to have no inkling of what awaits them this week. I assume that the Daily Record will claim that that they have known this all along. 2012 will be nothing compared with 2018.

  12. Trfc financial survival is firmly in SFA hands.A semi and cup final win will keep the breakfasts on this season.granting a dodgy Euro licence will keep the season tickets selling and kick the lambeg further down the road.the death throes are slower than a Tory leader getting out a common fisheries policy.
    TAKE A LOOK AT CLUBS DESPERATE TO GET NEXT SEASONS TICKETS SOLD BEFORE THE TRFC EURO LICENCE 2019 SFA DECISION.

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