Club statement

Jjbscotty said:
RANGERS Football Club is delighted to announce that Douglas Park has been appointed as Interim Chairman of Rangers International Football Club PLC.

Furthermore, we can confirm the appointment of John Bennett as Deputy Chairman of RIFC.

Douglas Park has decades of experience as a successful businessman which is invaluable to Rangers, as we continue to work towards our 150th anniversary. We are indebted to Douglas’ financial backing and support with fans fondly recalling his part in the “Three Bears” takeover of 2015.

John Bennett joined the RIFC board in March 2015 as part of the regime change when he invested substantial funds in Rangers. His consistent investment in the club is set to continue, with further funding in the coming months.

Mr Bennett has over three decades of experience in investment management with a specialism in European companies.

RIFC is pleased to confirm that the funding plan announced at the recent AGM is well advanced, with significant investment already received and further commitments in place.

The elevation of Douglas Park and John Bennett is another significant step forward for Rangers FC and is a sign of intent by the club.

Mr Park highlighted, “It is a privilege to take on this position at the world’s most successful football club. We have experienced some difficult days but have emerged stronger than before.

“On behalf of the Board of Directors, I welcome the continued enthusiasm towards contributing to the future success of the company and club. We will make further public comment in due course.”

Furthermore, Deputy Chairman, John Bennett commented on the outgoing Chairman, “I want to place on record our sincere thanks to Dave King for the important contribution he made as Chairman of Rangers FC.”

In closing, Mr Park highlighted the current health crisis throughout the world, “I know what an institution Rangers is and what it means to our loyal fans. However, football is secondary at the moment. It is vital that we follow the advice of the government and medical experts to beat this virus.

“Please look after yourself and your loved ones. Thank you to the medical staff, and all key workers who are working tirelessly across the United Kingdom.”
Click to expand...

We’re f’cked-the funding has been shelved.
 
Valley Bluenose said:
This is the important bit:

RIFC is pleased to confirm that the funding plan announced at the recent AGM is well advanced, with significant investment already received and further commitments in place
Click to expand...

Definately good news at this worrying time V.B. and with further investment I am starting to believe we could be relatively unscathed.
 
I'm confused here.Our statement on club website is positive (thankfully) but where are the BBC getting this from..???

"At my final board meeting in Glasgow on March 14, the board was close to finalising a new round of funding," King added.

"However, this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

"The subsequent severe developments within the sporting and general business environment - that have now resulted in global lockdowns - has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

Does this mean there's money in place or not?
 
Can't stand that prick English. A click bait mentally challenged mouthpiece.

I remember listening to sportsound (I know) the day after the EGM and English was adamant King didn't meet the fit and proper person criteria to sit on the board. 5 years on the agenda hasn't changed one iota.
 
sherbrook_loyal said:
I welcome Douglas Park’s appointment but it’s tinged with sadness as Dave King is leaving.

I have enormous respect and a huge debt of gratitude to both men for saving our club.

Hopefully Park leads us to success on and off the field and King remains involved in some capacity.
Click to expand...
Thought King was only stepping down as chairman, not leaving? Gutted if true.
 
Douglas Park was previously a director of Hearts. Invested in them around the time that Wallace mercer was chairman.
 
1972 bear said:
I'm confused here.Our statement on club website is positive (thankfully) but where are the BBC getting this from..???

"At my final board meeting in Glasgow on March 14, the board was close to finalising a new round of funding," King added.

"However, this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

"The subsequent severe developments within the sporting and general business environment - that have now resulted in global lockdowns - has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

Does this mean there's money in place or not?
Click to expand...

It means there's money in place.
It means Coronavirus is a game changer and the board are reviewing their plans for the future, short term and long term.
It means the board are doing what every company in the world is doing, planning for the worst and hoping for the best.

edit: I'm sure even Tom English is reviewing his financial position and future income.
 
Jjbscotty said:
RANGERS Football Club is delighted to announce that Douglas Park has been appointed as Interim Chairman of Rangers International Football Club PLC.

Furthermore, we can confirm the appointment of John Bennett as Deputy Chairman of RIFC.

Douglas Park has decades of experience as a successful businessman which is invaluable to Rangers, as we continue to work towards our 150th anniversary. We are indebted to Douglas’ financial backing and support with fans fondly recalling his part in the “Three Bears” takeover of 2015.

John Bennett joined the RIFC board in March 2015 as part of the regime change when he invested substantial funds in Rangers. His consistent investment in the club is set to continue, with further funding in the coming months.

Mr Bennett has over three decades of experience in investment management with a specialism in European companies.

RIFC is pleased to confirm that the funding plan announced at the recent AGM is well advanced, with significant investment already received and further commitments in place.

The elevation of Douglas Park and John Bennett is another significant step forward for Rangers FC and is a sign of intent by the club.

Mr Park highlighted, “It is a privilege to take on this position at the world’s most successful football club. We have experienced some difficult days but have emerged stronger than before.

“On behalf of the Board of Directors, I welcome the continued enthusiasm towards contributing to the future success of the company and club. We will make further public comment in due course.”

Furthermore, Deputy Chairman, John Bennett commented on the outgoing Chairman, “I want to place on record our sincere thanks to Dave King for the important contribution he made as Chairman of Rangers FC.”

In closing, Mr Park highlighted the current health crisis throughout the world, “I know what an institution Rangers is and what it means to our loyal fans. However, football is secondary at the moment. It is vital that we follow the advice of the government and medical experts to beat this virus.

“Please look after yourself and your loved ones. Thank you to the medical staff, and all key workers who are working tirelessly across the United Kingdom.”
Click to expand...
Thank you Mr King and best of luck Mr Park.
 
1972 bear said:
I'm confused here.Our statement on club website is positive (thankfully) but where are the BBC getting this from..???

"At my final board meeting in Glasgow on March 14, the board was close to finalising a new round of funding," King added.

"However, this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

"The subsequent severe developments within the sporting and general business environment - that have now resulted in global lockdowns - has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

Does this mean there's money in place or not?
Click to expand...
I read it like.... "(DK) I am happy to advise that the Finance Plans are advanced, but obviously it would be sensible to put these on hold due to the uncertainty facing all football clubs and sport in general".....that's a Win times 2 statement, we've one the prep, we're not being intractable about it
 
Always good having Rangers men running the club as you know they will do whats best for Rangers. Hopefully Dave King will still be involved at boardroom level.
 
It's nice to have some controlled boardroom movements, back operating normally in very difficult conditions and I'm certain that this board will also do what's best for the club.
 
sherbrook_loyal said:
I welcome Douglas Park’s appointment but it’s tinged with sadness as Dave King is leaving.

I have enormous respect and a huge debt of gratitude to both men for saving our club.

Hopefully Park leads us to success on and off the field and King remains involved in some capacity.
Click to expand...

Yes, still would love to be there when we get 55 in the near future & these guys get THEIR MOMENT in doing a lap of honour in front of 50,000 bears at our stadium.
 
Seems that English, and hollicom at the daily rebel are spinning this to get hits from mad phil.
I can only assume that King is not leaving the club in hands of people who are going to put it into trouble.
 
1972 bear said:
I'm confused here.Our statement on club website is positive (thankfully) but where are the BBC getting this from..???

"At my final board meeting in Glasgow on March 14, the board was close to finalising a new round of funding," King added.

"However, this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

"The subsequent severe developments within the sporting and general business environment - that have now resulted in global lockdowns - has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

Does this mean there's money in place or not?
Click to expand...
I take it the shelved investment is the 20m from 2 new investors. It will be down to our existing investors to see us through the Corona virus threat.
 
Laudrup's Right Foot said:
Curious.

Sincerely hope there hasn’t been any fallout with the timing of the departure. Did find it strange King announced it personally before the club announced his departure.
Click to expand...

He’s stepped down as Chairman, nothing more, as far as I can gather (though some of the media reports leave that unclear). Still a member of the Board. So it’s not like he has left the Club. Unless I’ve got it wrong.
 
DK stepping down as Chairman means squat.He is in CA under lockdown. Unfortunately, we cannot say the same of English. DK still has his shares as far as I know.
 
Can anyone remember when Douglas Park was on the hearts board, he locked a referee in the refs changing room after a game and ended up having to resign
 
Now and forever said:
In what capacity is he still on the board?
Click to expand...

If I’m right and he’s still on the Board - I accept that is still not 100% clear - then it would be in line with his plans as announced at the AGM. He indicated he would stay on to deal with the fiasco of litigation against the Fat C*nt in respect to the retail deal. That would mean he was a ‘simple’ Board member, same as the likes of John Bennett, Alastair Johnston, Graeme Park, Barry Scott and Julian Wolhardt.
 
I'm happy with the news about Douglas Park. I think he's by far the best choice for Rangers and was actually a better fit for chairman than Dave King was. Park is local, will give this his 100% commitment and attention, and is local to us.

Further - If Im honest, I don't think the Sports Direct or Hummel debacles would have happened if Douglas Park had been running the show.

Whilst King hasn't been the horror show I was scared he might have been, I don't think he's been flawless either. I also hope that Park moves to stabilise our spending. We can't keep issuing new shares. This said, there's no doubt my outlook has been seriously affected by the number of absolute crooks and charlatans we've had in our club. Really happy for Douglas Park - I suspect this will be a dream come true for him.
 
Tom English is a bitter foolish clown who just says what he hopes instead of getting the truth out there
 
Valley Bluenose said:
If I’m right and he’s still on the Board - I accept that is still not 100% clear - then it would be in line with his plans as announced at the AGM. He indicated he would stay on to deal with the fiasco of litigation against the Fat C*nt in respect to the retail deal. That would mean he was a ‘simple’ Board member, same as the likes of John Bennett, Alastair Johnston, Graeme Park, Barry Scott and Julian Wolhardt.
Click to expand...
There was no mention of him remaining on the board in either his statement or the clubs. I could be wrong but from what has been put out you have to assume he is no longer on the board.

As i say though that could be wrong and goes back to my point about loads of stuff left unanswered.
 
AllanD said:
He's not on the board but he is still a majority share owner and battling the fat slug on the side.
Click to expand...
He is still on the board, just not chairman of the board. Unless Companies House records haven't yet been updated (possible but he is definitely still currently showing as a director at Companies House online as at 8.30 this morning).

And, with apologies for being pedantic, he is a significant minority shareholder (his New Oasis trust has 25.58%) not a majority share owner.
 
ald said:
He is still on the board, just not chairman of the board. Unless Companies House records haven't yet been updated (possible but he is definitely still currently showing as a director at Companies House online as at 8.30 this morning).

And, with apologies for being pedantic, he is a significant minority shareholder (his New Oasis trust has 25.58%) not a majority share owner.
Click to expand...
Fair enough
 
  • Like
Reactions: ald
ald said:
He is still on the board, just not chairman of the board. Unless Companies House records haven't yet been updated (possible but he is definitely still currently showing as a director at Companies House online as at 8.30 this morning).

And, with apologies for being pedantic, he is a significant minority shareholder (his New Oasis trust has 25.58%) not a majority share owner.
Click to expand...
He is no longer on the board. I am sure Companies House will be updated soon.
 
ald said:
He is still on the board, just not chairman of the board. Unless Companies House records haven't yet been updated (possible but he is definitely still currently showing as a director at Companies House online as at 8.30 this morning).

And, with apologies for being pedantic, he is a significant minority shareholder (his New Oasis trust has 25.58%) not a majority share owner.
Click to expand...

He’s no longer on the board
 
tangledupinblue said:
Rename Auchenhowie 'King Park'.

• Honouring Dave King.
• Honouring Douglas Park.
• Our training centre is 'King' above anything else this country can offer.
• Nice Loyalist tone to it.
Click to expand...

I like the sound of that:

The King Elite Training Centre.

We will have a King in the years to come (sad to say - since our Queen has been a majestic monarch in every sense of the word).
 
You must log in or register to reply here.

Share this page

Latest posts

Back
Top