Club 1872 statement

Coatbridge Chancellor

Well-Known Member
Why would Mr King do this at this time when we are in such a good place. End of season/55 in the bag would have been a much better time to push this through.
I don’t get the need to put uncertainty into the mix at such a crucial stage of the season. Maybe the last few years have me paranoid over any financial dealings within the club...
View might be valid if he was asking for it to be done in the next 3 weeks. But there is 3 years to complete this. Little changes in the short term.
 

Coatbridge Chancellor

Well-Known Member
I feel very uncomfortable with this. I'm all for fan involvement at board level, but fans having control? I'm not so sure.

My take on this is that DK is looking to the future and realizes this family are not going to maintain his involvement once he shuffles off this mortal coil, and rather than see his family sell his shares to the highest bidder, he is giving the fan base, via club1872, the chance to buy his interest now.

Personally i'd much rather he held onto his shares and made provision to do this in his will, but for whatever reason he's chosen to just sell up now. I cant criticize the man after what he has done for us.

I just hope this works for the best. However, with our record of in-fighting I'm afraid I can only see problems ahead. I pray i'm wrong. Hopefully the 3 bears will continue their involvement with the club and we continue to attract outside investment. That is very important to our success. I figure its going to take an all out effort from club1872 to raise 13 million, so we need additional investment on top of that to continue building the side and be successful.
Again, important to note that nobody is proposing this. If it happens, fans won't be in control. They (we) would be the largest shareholder, but the club would be run, as it is now, by the board of directors. Yes there would almost certainly be 1 C1872 representative on the board, but it's a far cry from control.
 

govantrueblue

Well-Known Member
Official Ticketer
Absolutely, @Roscoblue

Is it too much of a stretch to suggest it’s a bit of a kick in the teeth to these wealthy investors who are all supporters?

If I’d invested the sums of money these shareholders had, I’d be concerned that a fans’ group could soon have a majority say in the club I’ve invested in.

The not inconsiderable sum of £13 million would do a lot more good going to the club than any individual. And I say that as a big King fan.

That this fans’ group seems to be poorly run would only add to my concern.

As someone who has contributed each month to Club 1872 for a long time, tonight’s news just doesn’t sit right with me.
For my part, I see it as a proverbial boot in the baws to Park, Letham, Taylor etc.

The aforementioned, will ensure that £8million is in place to see out the season, who's to say they wont ask Club 1872 to stump up the cash if they become the majority shareholder?
 

SenoraCuellar

Well-Known Member
Should Club 1872 not get their house in order and stop the petty squabbling before embarking on this?
Also as others have said £13m would be better in new shares rather than going ro Dave King and I do not mean that in a derogatory way whatsoever to DK.

The last time I read about Club 72 on here had a couple of those within it not flounced off after disagreement? Has all that been resolved? Because no way will this work if there’s no stability.
 

SimonLeBon

Well-Known Member
Personal opinion. Not a good thing. They have been non existent for a while now. Infighting a while back. Nah not for me.
 

deedle

Well-Known Member
There is far too much negativity about this news.

Ultimately, it should mean the club being far more assertive when it comes to issues like the SPFL and Sturgeon.

However, what Club1872 probably needs is a prominent figurehead who commands respect within the support and who’d be prepared to take on a leading role.
 

supersouness

Active Member
To put it bluntly, anyone being negative about this doesn’t have the best interests of the club at heart. We get the club we deserve. Every single one of us should be working towards a greater influence over the club even if it’s just a fiver a month.

Does anyone seriously believe we won’t run into financial difficulties again with the current model? Do you think there will always be a bear with deep pockets and our best interests at heart waiting in the wings to bail us out? If you care so much about the club wouldn’t you want to play a small part in influencing it and protecting it?

Bottom line is it’s the only sustainable model for us. We need to get above 25% and keep it.

In the words of Dave King

I’m really hoping the supporters do get together and understand this is a genuine once-in-a-lifetime opportunity to start to take ownership and be the biggest influencer in the club going forward.

 

Bluedell

Well-Known Member
My head agrees with you but I then ask myself how much would we have paid to have had the ability to veto Craig Whyte on 2011?

I'm not fully formed on what I think about today's news but I think getting to 25% is an opportunity we should take. King is basically telling us if gets hit with a bus his shares could be available to anyone.

Beyond this club 1872 should be a source of additional funding for the club. But unless it is completely revamped and given proper professionalism, corporate nous, and effective communication and marketing, this is doomed to failure. Based on recent activity it is currently unfit for the job in hand.
Let's say we get the 25% through a massive fund raising from the fans. What happens when the club needs £13m a week later and there's a share issue a week later which C1872 is unable to take part in because all their money went externally?

The magical 25% gets reduced to say 15% and we're back to square one.

Alternatively, the club needs the £13m but is unable to get it from shareholders so it has to sell 2 players, which costs us the league, because C1872 put the needs of Dave King before the funding needs of the club.

I'd agree with you on C1872 needing revamped. Have they even had an AGM since inception?
 

GazzaG

Well-Known Member
Official Ticketer
To put it bluntly, anyone being negative about this doesn’t have the best interests of the club at heart. We get the club we deserve. Every single one of us should be working towards a greater influence over the club even if it’s just a fiver a month.

Does anyone seriously believe we won’t run into financial difficulties again with the current model? Do you think there will always be a bear with deep pockets and our best interests at heart waiting in the wings to bail us out? If you care so much about the club wouldn’t you want to play a small part in influencing it and protecting it?

Bottom line is it’s the only sustainable model for us. We need to get above 25% and keep it.

In the words of Dave King

I’m really hoping the supporters do get together and understand this is a genuine once-in-a-lifetime opportunity to start to take ownership and be the biggest influencer in the club going forward.

Very well put mate.

It's not a fans group taking ownership.
It's not fans making day to day decisions.
It's a shareholding large enough to ensure we never suffer as we have since 2012 again in the future.

The one seat that C1872 will inevitably have on the board of directors will be voted on annually by the membership.
It's not going to be some guy going rogue, he will be answerable to the board and members of C1872.
 

GazzaG

Well-Known Member
Official Ticketer
Let's say we get the 25% through a massive fund raising from the fans. What happens when the club needs £13m a week later and there's a share issue a week later which C1872 is unable to take part in because all their money went externally?

The magical 25% gets reduced to say 15% and we're back to square one.

Alternatively, the club needs the £13m but is unable to get it from shareholders so it has to sell 2 players, which costs us the league, because C1872 put the needs of Dave King before the funding needs of the club.

I'd agree with you on C1872 needing revamped. Have they even had an AGM since inception?
C1872 would have enough of a say to stop it's shareholding being diluted.
 

Bluedell

Well-Known Member
To put it bluntly, anyone being negative about this doesn’t have the best interests of the club at heart. We get the club we deserve. Every single one of us should be working towards a greater influence over the club even if it’s just a fiver a month.

Does anyone seriously believe we won’t run into financial difficulties again with the current model? Do you think there will always be a bear with deep pockets and our best interests at heart waiting in the wings to bail us out? If you care so much about the club wouldn’t you want to play a small part in influencing it and protecting it?
So someone who believes that C1872 should use its cash to get shares from the club, rather than Dave King, so that the money actually goes to the club, and benefits the club, doesn't have the best interests of the club at heart? Wow.

Yes, we'll run into financial difficulties again, which is why the cash should go to the club and not Dave King.
 

supersouness

Active Member
So someone who believes that C1872 should use its cash to get shares from the club, rather than Dave King, so that the money actually goes to the club, and benefits the club, doesn't have the best interests of the club at heart? Wow.

Yes, we'll run into financial difficulties again, which is why the cash should go to the club and not Dave King.

This is a solution that benefits the club for generations. Dave King’s shareholding gets us where we need to be and would be a fantastic ending to a miserable period in our history that can never be repeated.
 

Bluedell

Well-Known Member
This is a solution that benefits the club for generations. Dave King’s shareholding gets us where we need to be and would be a fantastic ending to a miserable period in our history that can never be repeated.
It might get us there temporarily but there's the potential for it to be diluted 6 months later due to its ongoing funding needs. It's not necessarily a "generations" fix.
 

supersouness

Active Member
It might get us there temporarily but there's the potential for it to be diluted 6 months later due to its ongoing funding needs. It's not necessarily a "generations" fix.
Correct. That’s why there needs to be ongoing, small, monthly contributions from the fans. We all need to feel accountable for this. 50K fans spending £5 a month would generate £3M a year in investment for he club. Who else is going to do that and expect nothing in return? We could all be voting for our board representation.

The alternative paths will create periodic problems and god forbid a repeat of 2012. We can’t pass this up after what we’ve been through.
 

Snoopproddiedogg

Well-Known Member
If they are going to have to buy them off someone then it may as well be King but I'd much prefer it if my contributions were going straight into the club.

Surely we will require some sort of fan share issue soon to get more investment into the club. These are very uncertain times and I can't see directors providing loans forever especially if their own wealth/businesses are suffering.
 

Barisic's Bandage

Well-Known Member
Correct. That’s why there needs to be ongoing, small, monthly contributions from the fans. We all need to feel accountable for this. 50K fans spending £5 a month would generate £3M a year in investment for he club. Who else is going to do that and expect nothing in return? We could all be voting for our board representation.

The alternative paths will create periodic problems and god forbid a repeat of 2012. We can’t pass this up after what we’ve been through.
I like the idea of fans paying £5-£10 a month. £4m-£6m in revenue if we get 50k of us on board.
 

Bluedell

Well-Known Member
I'm not fully formed on what I think about today's news but I think getting to 25% is an opportunity we should take. King is basically telling us if gets hit with a bus his shares could be available to anyone.
The other thing that this tells us is that King's £5m loan is a genuine external loan that will require repaying from somewhere...not forgetting the annual £400K interest he's charging. Would it not be better that we were raising funds for the club to help repay it as presumably King will be looking for that cash next year?
 

KGR98

Well-Known Member
The apathy towards Dave King in this thread is quite frankly disgusting he's doing the fans a favour selling at a loss to get fans a meaningful say in decision making at the club if he wants to sell up as a result to keep his family secure then his wishes should be respected
 

KGR98

Well-Known Member
I like the idea of fans paying £5-£10 a month. £4m-£6m in revenue if we get 50k of us on board.
There is a one off payment of £500 to sign up as a legacy member however that can also be paid over a number of months so if Club 1872 get the extra 20000 required they get £10 million from those new members already not including the monthly donations 50k members would give us an incredible and secure financial footing and I'm sure if marketed properly that number will just grow and grow and grow
 

Eddie Badabing

Well-Known Member
The other thing that this tells us is that King's £5m loan is a genuine external loan that will require repaying from somewhere...not forgetting the annual £400K interest he's charging. Would it not be better that we were raising funds for the club to help repay it as presumably King will be looking for that cash next year?
Was it not that the "commercial loan" in the accounts was 2.9m, I presumed this to be King's, and that the 8% was a prerequisite condition to him getting the money out of SA?

Either way you are right, it looks like it needs repaid.
 

Eddie Badabing

Well-Known Member
Let's say we get the 25% through a massive fund raising from the fans. What happens when the club needs £13m a week later and there's a share issue a week later which C1872 is unable to take part in because all their money went externally?

The magical 25% gets reduced to say 15% and we're back to square one.

Alternatively, the club needs the £13m but is unable to get it from shareholders so it has to sell 2 players, which costs us the league, because C1872 put the needs of Dave King before the funding needs of the club.

I'd agree with you on C1872 needing revamped. Have they even had an AGM since inception?
All agreed. The answer is that C1872 needs to be generating substantial recurring funds outside of this legacy initiative.

If there's 40k contributing at £10pm then it's the guts of £5m pa, that is what C1872 should be capable of if it got its arse in gear. If it functioned properly the concept works in your example.
 

Gibraltar Loyal

Well-Known Member
To put it bluntly, anyone being negative about this doesn’t have the best interests of the club at heart. We get the club we deserve. Every single one of us should be working towards a greater influence over the club even if it’s just a fiver a month.

Does anyone seriously believe we won’t run into financial difficulties again with the current model? Do you think there will always be a bear with deep pockets and our best interests at heart waiting in the wings to bail us out? If you care so much about the club wouldn’t you want to play a small part in influencing it and protecting it?

Bottom line is it’s the only sustainable model for us. We need to get above 25% and keep it.

In the words of Dave King

I’m really hoping the supporters do get together and understand this is a genuine once-in-a-lifetime opportunity to start to take ownership and be the biggest influencer in the club going forward.

You will get factions within Club 1872 and when one factuon doesnt get the person they want on the board or a resolution passed that they want then those backers could stop their monthly payments etc.
Imo having a potential veto will only lead to issues going forward.
 

Bluedell

Well-Known Member
Was it not that the "commercial loan" in the accounts was 2.9m, I presumed this to be King's, and that the 8% was a prerequisite condition to him getting the money out of SA?

Either way you are right, it looks like it needs repaid.
I presume that the £2.9m was Close Leasing (did you not read my review of the accounts? ;)) and King's £5m loan is repayable in 10 months.

King's funding changed from NOAL to Laird which gives him the reason to charge interest but given his attempt to hold the support to ransom (buy my shares or else they'll go to someone who doesn't have the interests of the club at heart) I'm not so sure that this was the only reason for the interest charge. He's obviously trying to recoup as much cash as possible.

He's obviously waited until the accounts were published before coming out with all this.
 

Northhiglander

Well-Known Member
There needs to be a big change in Club1872 but I also think fans need a shift in mindset too to make this work. I include myself in that because I don’t think fan ownership is right for us. The problem is, that’s what we’ve got and also what we need to safeguard the club well into the future. We need to think back to how helpless we were when we were hours away from everything being hived off for paltry loans. It’s so important for club1872 to sort itself transparently and launch a “never again” campaign properly. A board that disintegrates after a couple of differences is utterly pointless and will ensure this fails.
I agree with much of what you say. To shift hearts and minds and move everything forward Club 1872 needs to have a proper structure that would stop the factions we have previously seen.

My fear is even at our darkest hour we struggled to get fans to agree on anything. As a support we have nothing that links us apart from supporting the same football team. We couldn’t even successfully boycott tannadice.

However Hearts have had a fair bit of success with foundation of hearts model. Maybe things we can learn from that. This would have been better publicised along with a plan from club 1872.
 

cambridgeblue

Well-Known Member
So someone who believes that C1872 should use its cash to get shares from the club, rather than Dave King, so that the money actually goes to the club, and benefits the club, doesn't have the best interests of the club at heart? Wow.

Yes, we'll run into financial difficulties again, which is why the cash should go to the club and not Dave King.
You aren’t going to attract sugar daddies if they are simply gifting all their money away.

If anyone on here has gifted £13M to the club then feel free to have a go at DK. Otherwise...
 

Bluedell

Well-Known Member
All agreed. The answer is that C1872 needs to be generating substantial recurring funds outside of this legacy initiative.

If there's 40k contributing at £10pm then it's the guts of £5m pa, that is what C1872 should be capable of if it got its arse in gear. If it functioned properly the concept works in your example.
The problem that some have got is that a lot of the cash being raised isn't going to the club. There was the money that went to Ashley and now the money going to King. What if Park is next and wants his money back? Will all these £5/month then go to him? and then Bennett?

A £5/month scheme has got a much better chance of working if it was guaranteed that the cash would go to the club...and even then, it's not the best time with many supporters still on furlough or reduced wages or losing their jobs.
 

sherbrook_loyal

Administrator
Staff member
Just got this email:


Dave King Agrees to Sell Entire Shareholding to Club 1872
Dear Member,
Club 1872 can announce that former Rangers Chairman, Dave King has agreed to sell his entire shareholding in Rangers International Football Club (RIFC) Plc to Club 1872. The sale, when complete, will make Club 1872 the largest, single shareholder in RIFC Plc.
The structure of the deal gives Club 1872 three years to complete the purchase - with the opportunity to purchase the entire shareholding prior to December 2021 for a price of 20p per share which is below Dave’s cost. Club 1872 will aim to create over 20,000 legacy members of the organisation, each of whom will retain a lifetime vote on the shares held in RIFC.
It has also been agreed with the RIFC Board that both Club 1872 and Dave King will have the right to participate in any impending share issue of RIFC. This means that, should Rangers require it, they will continue to be supported by Club 1872 contributors’ donations to Club 1872 for the term of the agreement and that the combined shareholding need not be diluted as long as Club 1872 has funds available to participate.
Dave King said,
“During regime change and throughout my Chairmanship I have advocated for increased supporter influence at the shareholder level and I provided opportunities for Club 1872 to participate in every share issue that was undertaken. I did this partly to express my appreciation to those supporters and supporter groups who actively assisted me in securing regime change and partly to ensure that all supporters (whether shareholders or not) retain an influential voice in directing the affairs of their Club. It is my sincere hope that “Never Again” will supporters become as disconnected and disempowered as they were at the time of my re-engagement with the Club over 6 years ago.
After completion of my service as Chairman I took time to consider how I can create a final legacy by giving supporters - including future generations - substantial shareholder influence for the first time in the almost 150 years history of our Club. The time to launch a “Never Again” campaign is now.
I made it repeatedly clear that I reinvested in the Club somewhat reluctantly and only because without my support it was proving impossible for local Scottish supporters to martial sufficient financial resources to save Rangers from the impending doom that was unavoidable at that time. In addition I committed to investing further and doing whatever else it took (e.g. getting rid of Sports Direct/Mike Ashley) to see Rangers competing for Scottish titles and in Europe. That is firmly the case now.
As I look forward I must recognise that my family is based in South Africa and I cannot be certain as to what approach they would take to owning shares in the Club when I can no longer influence this. After considering the possible options I concluded that the only meaningful way I could deliver enduring supporter influence in my absence would be to allow supporters - via Club 1872 - to increase their influence at shareholder level by acquiring my shares over a period of time that is considered to be achievable by Club 1872.
I do not intend to profit from my efforts over the last 6 years to save our Club, even though the Club is now substantially more valuable partly through my efforts. I am happy that supporters get this increased value as without them we would not have achieved the full recovery that was completed with the recent fund raise.
I have agreed therefore to transfer my shares to Club 1872 at my historical cash cost of acquisition (which includes professional fees) and to allow Club 1872 a period of three years to build up the supporter backing that will be necessary to achieve this. My all-in cost is 23.7p per share and I am willing to put a pricing structure in place that accommodates 20p as the initial price to be consistent with the present share issue and, at Club 1872’s request, I have included an option for Club 1872 to buy all of the shares at 20p which would result in a loss to me. In my view the shares are presently worth in excess of 50p if properly valued.
I have coined the term “Never Again" as I truly believe that this is a once in a lifetime opportunity to make supporters - in perpetuity- the number one shareholder in the Club. Fortunately, the present Board supported me in my vision to see an increased shareholder influence for our fans but we cannot be sure of the fondness for this by future directors. The time to achieve this is therefore now.
Through my engagement with Club 1872 and its present board members (who are all dedicated volunteers) I have developed great trust in the individuals and the organisation. I have personally witnessed the strong benefit to the Club of having a collective voice for supporters at the shareholder level. It has been beneficial to have in Club 1872 a supporter group that is willing to challenge the Club when it feels necessary to do so and is also willing to support the Board when key resolutions that protect the Club need to be passed. Club 1872 did that extremely well during my period as Chairman to the extent that I have absolute confidence that Club 1872 is the right vehicle for me to work with to advance supporter shareholder ownership - both now and in the future.
I would urge Rangers supporters to join Club 1872 today and ensure that the events of 2012 can “Never Again” be repeated."
Club 1872 Director, Laura Fawkes said,
“This is a huge moment for both Club 1872 and the Rangers support. We are very grateful to Dave King for his faith in Club 1872 and the Club 1872 Board and for his ongoing commitment to ensuring that the ownership structure of Rangers remains a very healthy mix of wealthy individuals and the wider supporter base.
As Club 1872 Directors, we are very proud to present this opportunity to the Rangers support. We now need over 20,000 Rangers supporters to take up the baton, join Club 1872 and ensure that the events of 2012 can never happen again. It would be a seminal moment for both Rangers Football Club and the supporters if we could achieve the position of being the largest shareholder in Rangers in time for the 150th anniversary of the club in 2022.
The rebuilding of the Club, largely overseen by the Rangers Board under Dave King’s Chairmanship, has been remarkable - from the position in 2012 to once again challenging for domestic titles and in European competition. Club 1872 can continue to assist with that process whilst ensuring that the wellbeing of the club remains at the centre of decision making in the longer term.
We fully understand the financial pressures that supporters are under in the current economic climate, and the huge contribution they have already made to Rangers this season through season ticket sales and merchandise. But, if they can dig deep one more time and join Club 1872 today as legacy members, then over the next couple of years we can together ensure that the club will remain in safe hands for generations to come."
We are asking supporters to make a £500 donation either as a one-off or over ten or twenty five months. This donation will be marked with a legacy certificate and legacy membership of Club 1872 - ensuring that all legacy contributors will retain a vote on all major decisions about Rangers International Football Club Plc in their lifetime. Existing Club 1872 members will shortly receive details of how to switch to a legacy subscription, and further information on our legacy campaign can be found on our website.
Club 1872
 

Bluedell

Well-Known Member
You aren’t going to attract sugar daddies if they are simply gifting all their money away.

If anyone on here has gifted £13M to the club then feel free to have a go at DK. Otherwise...
They aren't sugar daddies if they are just going to get their cash back.

Are you seriously saying that fans aren't allowed to criticise shareholders or directors unless they have put £13m into the club? How did that work with David Murray?
 

Mustang mad

Well-Known Member
I really am not sold on fan ownership.
Also, i always feel the club is in safe hands when mr King is involved. Would be slightly uneasy at the thought of him being out of things altogether.
 

cambridgeblue

Well-Known Member
They aren't sugar daddies if they are just going to get their cash back.

Are you seriously saying that fans aren't allowed to criticise shareholders or directors unless they have put £13m into the club? How did that work with David Murray?
David Murray put in how much ?
 

Valley Bluenose

Well-Known Member
Couple of important points from the Club 1872 FAQ, which answer two of the common questions on here:

Will Club 1872 be involved in the day to day running of Rangers?

No. Club 1872 is a major shareholder but is not directly involved in the day to day running of the club. With a large shareholding, Club 1872 will be in a position to scrutinise the decisions made by the Executives and the Board of Rangers and work with them to grow and develop the club whilst representing the views and concerns of our members. As we grow our shareholding we will also, in line with the wishes of our members, seek formal representation on the Rangers Board. It will remain the job of the Executive Team to run Rangers on a day to day basis and make operational decisions.

How would Club 1872 be represented on the Rangers board?

As we build our shareholding and grow our membership through legacy donations, Club 1872 will re-enter discussions with Rangers about representation on the RIFC Board. It is important to stress that it will not be Club 1872 Directors who take up an RIFC Board position. The Directors will identify candidates who can not only represent Club 1872 but also make an important contribution to the RIFC board through their expertise and experience. The chosen candidate will then represent the organisation’s shareholding on the board and ensure that the views of Club 1872 members are represented at all times. This will not change the way Rangers Football Club is run on a day to day basis. Club 1872 would not be involved in day to day decision making at Rangers, but rather would retain oversight of that process through regular interaction with the Rangers Board and Executive Team.

FAQs | Club 1872
 

Mosschops

Well-Known Member
Official Ticketer
I wonder if Leanne Dempster has resigned from Hibs to become a director at Club1872 and be the person appointed by them to join the Rangers board
 

Valley Bluenose

Well-Known Member
I wonder if Leanne Dempster has resigned from Hibs to become a director at Club1872 and be the person appointed by them to join the Rangers board
As above 'It is important to stress that it will not be Club 1872 Directors who take up an RIFC Board position. The Directors will identify candidates who can not only represent Club 1872 but also make an important contribution to the RIFC board through their expertise and experience.'

Doesn't rule out the likes of Dempster representing Club 1872, though I think it highly unlikely, but it doesn't mean she would be a Club 1872 Director.
 

CaptainHolt

Well-Known Member
Dempster is seemingly going to Queen's Park as Chief Exec.

Anyway, not sure if it's been mentioned but will Club1872 stop blocking people on Twitter for disagreeing with them now? Was a paying member of it but seemingly not allowed a say, same happened to a few mates and family members. Wouldn't put a penny towards them now.
 

Subway Loyal

Active Member
At the moment we have wealthy individuals who by their actions have shown they have the best interests of the club at heart.

Reading some of the replies, I think some people expect this ideal scenario to continue indefinitely.

Unfortunately we don’t live in an ideal world and this fan influence model allows us to have a real say in how the club is run.

It’s not just about protecting the club from
bad faith actors. We could also keep a leash on a Murray type figure who could run the club badly.
 

JD1872

Well-Known Member
If club1872 pull this off then fair play to them but I think it is much more likely they will raise a few million and King will sell the rest to other investors
 

ald

Well-Known Member
Interesting that several of the last few posts refer to Leanne Dempster. Reading this thread it seems clear that there is a degree of concern about how Club 1872 has been run over a number of years. Now I don’t know any of the current directors but I haven’t ever heard anyone doubt the fact that they are lifelong Rangers supporters whose hearts are in the right place. Maybe they are doing a great job, maybe they aren’t. Maybe the concerns some have expressed are justified, maybe they aren’t. But in a way it doesn’t really matter. Even if they are doing a great job, there is a perception that there are, or at least have been, issues. It seems to me that of itself probably means that, for significant new funds to be raised and for the buyout of King’s shares proposal to (even in meaningful part) be a success, there needs to be a re-set of Club 1872. Maybe a Leanne Dempster, or similar, would be the sort of person to provide that re-set and enhance the whole credibility of Club 1872.
 

MCMLXXXI

Well-Known Member
I'm a Life Member (whatever that is) & I joined C1872 when we at our lowest ebb to make some kind of contribution to make me feel I was at least doing my little bit & if I'm honest I've not really kept that up to date as to what they've done since.

In lamens terms they want folk to pay £500 over a few months Legacy Donation as a one off to raise funds & give you a vote going forward?

The £500 is a one off? When I log in I see:

Donate £500 then £10/month
SIGN UP NOW
Donate £50/month for 10 months then £10/month
SIGN UP NOW
Donate £20/month for 25 months then £10/month
 

Eddie Badabing

Well-Known Member
I presume that the £2.9m was Close Leasing (did you not read my review of the accounts? ;)) and King's £5m loan is repayable in 10 months.

King's funding changed from NOAL to Laird which gives him the reason to charge interest but given his attempt to hold the support to ransom (buy my shares or else they'll go to someone who doesn't have the interests of the club at heart) I'm not so sure that this was the only reason for the interest charge. He's obviously trying to recoup as much cash as possible.

He's obviously waited until the accounts were published before coming out with all this.
Agreed - I don't think it's unkind to say he could have been more transparent in his plans (like Budge for example). And I don't think it's cynical to suggest this was his plan for C1872 all along and why the mergers were so high on his agenda, or why his favoured man remains in situ.

On the other hand, it could be argued we need to pay the piper sometime and that expecting free money from benefactors is the root of all our problems.
 
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