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SBD Global/December 5, 2013/Franchises

Rangers 'Gang Of Four' Unveils Blueprint For Scottish League 1 Rangers Board

The four men seeking to oust the current Scottish League 1 Rangers board "have issued a set of pledges they will stand by should they win the crucial AGM vote," according to the SCOTSMAN. Rangers "Gang of four" director nominees Paul Murray, Malcolm Murray, Alex Wilson and Scott Murdoch "have all signed an eight-point charter that sets out a framework for how the Ibrox hierarchy should behave." They have "called on the current regime to match their commitment while repeating fears about the club’s financial future" should they not win on Dec. 19th. Ex-Chair Murray "warned supporters" at a meeting in Belfast on Monday night that he "feared Rangers might go bust again if the current board retained their positions" (SCOTSMAN, 12/4). In Glasgow, Keith Jackson reported the move comes "amid some fans’ fears that the current regime may attempt to strike a sale and lease-back deal on the ground in order to avoid another potential insolvency." Wilson said: "The sale of Ibrox is definitely a concern. It’s been a concern ever since Craig Whyte first appeared on the scene. It has bounced around as a rumor since John Brown stood on the steps outside Ibrox and said 'show us the deeds.'" Wilson believes that this "blueprint must be implemented immediately if another financial trauma is to be avoided next year." Wilson: “Administration II is a very real concern. The finance director has overseen an extraordinary level of spending. After six months of the financial year he predicted there would be a £7 million loss ($11M). It was in fact £14 million ($22.9M). For the FD to get the numbers that wrong should scare the life out of any executive." Rangers insist there is no cash crisis at Ibrox and in October former CEO Craig Mather claimed Ibrox fans "were being deceived" (DAILY RECORD, 12/4).
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