Director John Bennett - now in for £23million

Whilst the crash barriers are winning the league, and gaining the automatic CL money we earned them with our performances in Europe, fans are never, ever going to be happy.

On a general point, however, we really do need to be very grateful we have people like John Bennett willing to keep supporting us and thereby giving us a fighting chance of undoing a decade of attacks from everybody in the country (inc the SPL and SFA) and a bunch of thieving spivs hell bent on ripping our club to bits while they filled their pockets.

As is often said on here, we really need to be careful what we wish for.
 
Mount_Bear said:
Absolutely fucking mental that people are foaming at the mouth to get rid of them
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The rabid nutters don’t know their arse from their elbow let alone distinguish between the football board and the RIFC board.
Unless public speaking is suddenly a requisite of a Chairman then 99% of the Park criticism is a nonsense but all the SR JB out noise seems to get lumped in with get them ALL out
 
Maida Vale Bear said:
I think it's an amazing personal commitment from him and we need to start being a little more appreciative of these guys.
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I think we all appreciate it but they have a lot to do on the communications front,

Yesterday's AGM was the first time we had board members doing presentations to the share holders,
Good start but long way to go,

Also dissapointing to see security next to the mics on the floor,
Reminds me of the previous board when one of the rangers staff held the mic as you speak,

That needs to stop
 
Maida Vale Bear said:
I think it's an amazing personal commitment from him and we need to start being a little more appreciative of these guys.
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Why? its just so much easier to stand onthe sidelines sniping at every FKN thing , especially when its not going well on the pitch.

Imagine these guys just got fed up with the grief and decided to cash in and bugger off?
Bloody hell.
 
This is a true measure of the board we have, far from perfect but passionate fans with money and willing to put their money where their mouth is.
Im not a board happy clapper but its my club as well and I’ve a right to make an honest assessment and on balance, they have delivered miraculous results in relation to financial stability and a stable future for our club.

Ensuring the financial security and the growth of our club is the primary role of the executive board.

Also should be noted he is not using a 3rd rate dictatorship led organisation to try and get his money out.

There are a lot of fans who should be careful what they wish for.
 
RoyalBlue said:
Whilst the crash barriers are winning the league, and gaining the automatic CL money we earned them with our performances in Europe, fans are never, ever going to be happy.

On a general point, however, we really do need to be very grateful we have people like John Bennett willing to keep supporting us and thereby giving us a fighting chance of undoing a decade of attacks from everybody in the country (inc the SPL and SFA) and a bunch of thieving spivs hell bent on ripping our club to bits while they filled their pockets.

As is often said on here, we really need to be careful what we wish for.
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Very true. We need to accept that the board's ''heart being in the right place'' and their willingness to invest heavily doesn't make them immune from making mistakes, and in some cases some whoppers at that. In this respect the position of chief executive is probably the most important in steering them away from such.
 
He seems like a good guy, loves Rangers, has invested heavily and we should be very grateful.

The Board are clearly all competent regarding the balance sheet and corporate governance but I still have concerns about their “feel” for football or their commitment to a PR war.

Everything feels as thought it’s all a bit process driven and lacks a bit of vision or balls out leadership.
 
Southside_shug said:
Excellent fro John Bennett

Does the club not have a normal banking facility yet?
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I thought they had a small o/d facility with a High St Bank. However at that value a full security package would require to be given incorporating standard securities and a floating charge over whole co assets.
 
Can one of our resident management experts from the AGM thread explain what they know about Douglas Park's abilities as chairman that John Bennett doesn't see, when he's prepared to entrust a board under Park with £23 million of his own money?

Also, those assuming he is making a single penny off his loans are almost certainly a mile off.

I suspect the 6% interest is the cost of borrowing he will be paying to provide the money to Rangers without having to liquidate his own assets or investments.
 
Worthy_Candidate said:
I’m sure it does Shug, I remember Stewart Robertson saying so at a past AGM.

What the club wouldn’t get is a 5% OD facility from any bank.
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I see to recall them getting a loan from one of the factoring banks a couple of years ago but I thought it would have been normalised greater by now
 
It always amazes me when you see Rangers fans calling for the board to go. Especially those on social media that usually like to make the most noise.
Who exactly do they have in mind to replace the guys that have pumped millions of their own money into the club?
 
Overdraft facility or not. Bennett should be chairman.

That guy carriers far more gravitas than Park does.

Park has never quite given off any figurehead vibes at all. No offense intended.
 
Jorg Albertz said:
From a financial perspective yeah but his interview to RTV few months back was appalling. Spoke to fans like a like school kid.
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I agree I did find all the best in class sound bites rather annoying when we are clearly not in several areas. Is there anything specifically he claimed during that interview that he contradicted during the AGM?
 
GEODGC said:
It always amazes me when you see Rangers fans calling for the board to go. Especially those on social media that usually like to make the most noise.
Who exactly do they have in mind to replace the guys that have pumped millions of their own money into the club?
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Like that guy on here 'Union Bear' (I think) who jumps in every thread about the board, apart from this one oddly enough, with posts like 'We need change ASAP'

That's it, that's literally all these people say. Its just utter guff they post to make noise with absolutely no idea what they're talking about.
 
TCWNS1872 said:
John’s a banker is he not?

I wonder how liquid he is or whether it’s a case of preferential lending rates?

Regardless, at least his heart is in the right place but let’s not kid ourselves that John is some kind of philanthropist.
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If he was interested in making real lineup he could get a lot more than 6%. So no one is kidding anyone.
 
I would like to say it makes you laugh when you get somebody on here saying " we need to get rid of these clowns in the boardroom" but it doesn't. Everyone of them is worth millions from hard work and being highly intelligent then investing heavily in their football team. They will only be truly appreciated when they are gone.

I seen a few people saying JB didn't really answer the question on loan repayments. I thought he answered it brilliantly. By answering the way he did he more or less said you have no idea what you are talking about and if DK wants that answered he can phone me.
 
Jorg Albertz said:
From a financial perspective yeah but his interview to RTV few months back was appalling. Spoke to fans like a like school kid.
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I think it was clear he hadn't prepared for it and despite itching to have a go he pulled his punches on Dave King.
 
Northampton Lodger said:
I would like to say it makes you laugh when you get somebody on here saying " we need to get rid of these clowns in the boardroom" but it doesn't. Everyone of them is worth millions from hard work and being highly intelligent then investing heavily in their football team. They will only be truly appreciated when they are gone.

I seen a few people saying JB didn't really answer the question on loan repayments. I thought he answered it brilliantly. By answering the way he did he more or less said you have no idea what you are talking about and if DK wants that answered he can phone me.
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I was hoping he answered it so that we had a rough idea how much in loans had been repaid since June as a lot of people are saying that's the reason we didn't go out and strengthen the team further after qualifying to the cl group stages. If he had answered the question it would have put that to bed.
 
steven allen said:
I think we all appreciate it but they have a lot to do on the communications front,

Yesterday's AGM was the first time we had board members doing presentations to the share holders,
Good start but long way to go,

Also dissapointing to see security next to the mics on the floor,
Reminds me of the previous board when one of the rangers staff held the mic as you speak,

That needs to stop
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Blair wasn't there yesterday I'm sure that made a difference?
 
truebluesince82 said:
Tbh no not really. Better returns for an investment of that size if he just put it in a fund. Its below market norm for a loan of that size
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If he had put it in shares the last 2 years, he would showing a loss likely.
Its a great jesture , but his money is safe and a return of 6% possibly tax free isnt bad.
 
Blue boy said:
If he had put it in shares the last 2 years, he would showing a loss likely.
Its a great jesture , but his money is safe and a return of 6% possibly tax free isnt bad.
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You don't buy shares for short term gain really with the market depressed he'd if wisely invested which is his job make a bigger return over time. He'd could make 6-7% per year just in a tracker fund.

It's far lower rate than we would get offered anywhere else. Probably as low as you can go for the risk
 
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