Paul Murray and Barry Scott Resign

Scoot1975 said:
I'm not gonna lie guys but I am absolutely shitting myself plus i may be reading to much into it but Gerrard looks pissed off in the studio tonight compared to last night,need some reassurance everything is gonna be all good
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Really??

Or is it possible that he’s just nervous about Liverpool progressing to the final? Although, let’s be honest, he doesn’t always look like Mr Happy.
 
If we have someone looking to invest some big cash there is a strong possibility they will want their own person(s) in there protecting their investments. Same way as Ashley had his place men and Muir was installed by Lloyds.
 
I
tangledupinblue said:
Don't use twitter or facebook pish and don't know if any truth to this. Was told earlier that Steven Gerrard deal includes Brian Kennedy and Graeme Souness investment. Are we now seeing Paul Murray paving the way for the arrival of The Blue Knights?
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was at a Souness book launch 3 months ago and he was asked this question re Him and Kennedy getting involved.He replied that he didn't have the wealth to invest and the boat had sailed onBrian's interest and it was no longer a goer
 
Scoot1975 said:
As I said mate I may just be reading to much into it but what we have been through in the last 6 years nothing would surprise me
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Gerrard has got previous of changing his mind at the very last minute.

Remember he was as good as signed for Chelsea before doing a u-turn!

Absolutely nothing surprises me regarding our club now. Infact I’m actually just waiting for this deal to fall through.
 
RFC_Champions said:
Gerrard has got previous of changing his mind at the very last minute.

Remember he was as good as signed for Chelsea before doing a u-turn!

Absolutely nothing surprises me regarding our club now. Infact I’m actually just waiting for this deal to fall through.
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Had forgotten about Chelsea

Contract agreed and he pulled out at the last minute
 
Blue Tack said:
No little jokes from lineker tonight re gerrard and Rangers ,tomorrow we need full disclosure,no matter good or bad .

I’m sure it’s still on and investment forthcoming but the fans are being mugged off .
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Tonight an English side, and Gerrards current club are playing, we are not the story, last night was totally different, 2 foreign sides, time for a laugh and a joke etc.
 
TheFridge said:
If you are going to make statements about out finances you should at least make sure they are accurate. There is no "3 million pound loan from a finance house" it is an overdraft facility
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If you are going to make statements about our finances you should at least make sure they are accurate. There is no "3 million pound overdraft from a finance house" it is a loan facility.

:)
 
Greebo said:
It's actually Paul Murray and Barry Scott.

I was referring to the official club statement.

I believe Barry Scott was the representative of the "associated parties" who have put in about £5.4m. George Taylor, George Letham, Andrew Ross, Barry Scott, Scott Murdoch.
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Barry Scott was not the representative of George Taylor or George Letham
I know them both and am 100% certain of this
 
TheFridge said:
If you are going to make statements about out finances you should at least make sure they are accurate. There is no "3 million pound loan from a finance house" it is an overdraft facility
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Just to add, you can't have an overdraft facility with someone you don't bank with. They're a finance house specialising in finance; i.e loans.

So, if you are going to make statements about our finances you should at least make sure they are accurate.
 
RFC_Champions said:
Gerrard has got previous of changing his mind at the very last minute.

Remember he was as good as signed for Chelsea before doing a u-turn!

Absolutely nothing surprises me regarding our club now. Infact I’m actually just waiting for this deal to fall through.
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He did it two seasons in a row.

2004 and 2005.
 
Craig said:
Just to add, you can't have an overdraft facility with someone you don't bank with. They're a finance house specialising in finance; i.e loans.

So, if you are going to make statements about our finances you should at least make sure they are accurate.
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The term used by the Club is a “working capital facility”. Definitely isn’t an overdraft, it is very rare an overdraft has that kind of security.
 
Craig said:
Just to add, you can't have an overdraft facility with someone you don't bank with. They're a finance house specialising in finance; i.e loans.

So, if you are going to make statements about our finances you should at least make sure they are accurate.
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There is a £3m loan facility there IF we choose to use it. As it stands, however, the club is currently debt free. Receiving a further £7m investment from a director and securing a banking facility for the first time since administration are further positive steps for the club. I'm not sure why you are trying to present this in a negative light. Well actually, I do know....
 
Craig said:
If you are going to make statements about our finances you should at least make sure they are accurate. There is no "3 million pound overdraft from a finance house" it is a loan facility.

:)
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Rangers Football Club has secured an overdraft facility for the first time since David Murray was owner of the Ibrox club, according to sources.

Chairman Dave King are understood to have reached a deal with investment bank Close Brothers to provide up to £3 million in funds.

It will be the first credit facility since Sir Davi Murray sold Rangers to Craig Whyte in 2011.

Mr King has previously admitted that soft loans from directors were required to keep everything running.

The new lending facility arrangement should give the board greater financial flexibility.

Rangers managing director Stewart Robertson said the deal is a sign of the growing stability of the cub’s balance sheet.

The club has an annual turnover of £30m and is expected to launch a share issue this year.

Mr Robertson said: “We need to get to the position where we’re a self sustaining football club. That has always been the target. We can’t keep going back to the well.

“A £30m business with no bank facilities is very, very unusual. It’s another step and it’s about doing it within the realms of financial prudence.”

The overdraft will be secured against Edmiston House and the Albion car park and is in addition to the £7 million King promised auditors he’d underwrite for any losses in the current financial year.

Mr King is currently in talks with the Takeover Panel after it ordered him to make an offer of 20p a share to all shareholders. The order followed a panel ruling that he acted in concert with three other investors when seizing control of the club three years ago.

The issue needs to be resolved before Rangers can launch a new share issue.

https://dailybusinessgroup.co.uk/2018/02/rangers-agrees-credit-facility-with-close-brothers/

:)
 
Interesting point is that if per the H&H podcast Paul Murray left due ,to managerial appointment , does that imply that SG is in fact a done deal ? Or am I clutching at straws here ? :)
 
TheFridge said:
Rangers Football Club has secured an overdraft facility for the first time since David Murray was owner of the Ibrox club, according to sources.

Chairman Dave King are understood to have reached a deal with investment bank Close Brothers to provide up to £3 million in funds.

It will be the first credit facility since Sir Davi Murray sold Rangers to Craig Whyte in 2011.

Mr King has previously admitted that soft loans from directors were required to keep everything running.

The new lending facility arrangement should give the board greater financial flexibility.

Rangers managing director Stewart Robertson said the deal is a sign of the growing stability of the cub’s balance sheet.

The club has an annual turnover of £30m and is expected to launch a share issue this year.

Mr Robertson said: “We need to get to the position where we’re a self sustaining football club. That has always been the target. We can’t keep going back to the well.

“A £30m business with no bank facilities is very, very unusual. It’s another step and it’s about doing it within the realms of financial prudence.”

The overdraft will be secured against Edmiston House and the Albion car park and is in addition to the £7 million King promised auditors he’d underwrite for any losses in the current financial year.

Mr King is currently in talks with the Takeover Panel after it ordered him to make an offer of 20p a share to all shareholders. The order followed a panel ruling that he acted in concert with three other investors when seizing control of the club three years ago.

The issue needs to be resolved before Rangers can launch a new share issue.

https://dailybusinessgroup.co.uk/2018/02/rangers-agrees-credit-facility-with-close-brothers/

:)
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Ouch, deep burn:p

Although to be fair, an overdraft is a loan.
 
TheFridge said:
Rangers Football Club has secured an overdraft facility for the first time since David Murray was owner of the Ibrox club, according to sources.

Chairman Dave King are understood to have reached a deal with investment bank Close Brothers to provide up to £3 million in funds.

It will be the first credit facility since Sir Davi Murray sold Rangers to Craig Whyte in 2011.

Mr King has previously admitted that soft loans from directors were required to keep everything running.

The new lending facility arrangement should give the board greater financial flexibility.

Rangers managing director Stewart Robertson said the deal is a sign of the growing stability of the cub’s balance sheet.

The club has an annual turnover of £30m and is expected to launch a share issue this year.

Mr Robertson said: “We need to get to the position where we’re a self sustaining football club. That has always been the target. We can’t keep going back to the well.

“A £30m business with no bank facilities is very, very unusual. It’s another step and it’s about doing it within the realms of financial prudence.”

The overdraft will be secured against Edmiston House and the Albion car park and is in addition to the £7 million King promised auditors he’d underwrite for any losses in the current financial year.

Mr King is currently in talks with the Takeover Panel after it ordered him to make an offer of 20p a share to all shareholders. The order followed a panel ruling that he acted in concert with three other investors when seizing control of the club three years ago.

The issue needs to be resolved before Rangers can launch a new share issue.

https://dailybusinessgroup.co.uk/2018/02/rangers-agrees-credit-facility-with-close-brothers/

:)
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Yeah but later financial statements revealed this was sparing with the facts I think
 
WalterLoyal said:
There is a £3m loan facility there IF we choose to use it. As it stands, however, the club is currently debt free. Receiving a further £7m investment from a director and securing a banking facility for the first time since administration are further positive steps for the club. I'm not sure why you are trying to present this in a negative light.
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A loan facility, not an overdraft. Cheers for clearing that up :)

I'm not trying to present anything in a negative light. As per my original post, using soft loans and pledges + using a loan facility isn't the way forward. We need to be self sustainable.
 
Craig said:
If you are going to make statements about our finances you should at least make sure they are accurate. There is no "3 million pound overdraft from a finance house" it is a loan facility.

:)
Click to expand...


An overdraft is just a revolving loan facility.
 
Craig said:
A loan facility, not an overdraft. Cheers for clearing that up :)

I'm not trying to present anything in a negative light. As per my original post, using soft loans and pledges + using a loan facility isn't the way forward. We need to be self sustainable.
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Right and the current directors have explained numerous times that the club will need to run at a loss for a period of time in order to grow (e.g. return to europe) and that they will fund the shortfall
 
Scoot1975 said:
I'm not gonna lie guys but I am absolutely shitting myself plus i may be reading to much into it but Gerrard looks pissed off in the studio tonight compared to last night,need some reassurance everything is gonna be all good
Click to expand...
Everything is gonna be all good

He is just pissed of cause he is in Rome and not Glasgow tonight
 
Craig said:
A loan facility, not an overdraft. Cheers for clearing that up :)

I'm not trying to present anything in a negative light. As per my original post, using soft loans and pledges + using a loan facility isn't the way forward. We need to be self sustainable.
Click to expand...

The soft loans are investment from the board. A board of directors investing in their club, shock horror.

Also, we haven't used any loan facility. We have a newly agreed banking facility which is there if we choose to use it though there is no immediate need to do so.
 
TheFridge said:
Rangers Football Club has secured an overdraft facility for the first time since David Murray was owner of the Ibrox club, according to sources.

Chairman Dave King are understood to have reached a deal with investment bank Close Brothers to provide up to £3 million in funds.

It will be the first credit facility since Sir Davi Murray sold Rangers to Craig Whyte in 2011.

Mr King has previously admitted that soft loans from directors were required to keep everything running.

The new lending facility arrangement should give the board greater financial flexibility.

Rangers managing director Stewart Robertson said the deal is a sign of the growing stability of the cub’s balance sheet.

The club has an annual turnover of £30m and is expected to launch a share issue this year.

Mr Robertson said: “We need to get to the position where we’re a self sustaining football club. That has always been the target. We can’t keep going back to the well.

“A £30m business with no bank facilities is very, very unusual. It’s another step and it’s about doing it within the realms of financial prudence.”

The overdraft will be secured against Edmiston House and the Albion car park and is in addition to the £7 million King promised auditors he’d underwrite for any losses in the current financial year.

Mr King is currently in talks with the Takeover Panel after it ordered him to make an offer of 20p a share to all shareholders. The order followed a panel ruling that he acted in concert with three other investors when seizing control of the club three years ago.

The issue needs to be resolved before Rangers can launch a new share issue.

https://dailybusinessgroup.co.uk/2018/02/rangers-agrees-credit-facility-with-close-brothers/

:)
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Read the actual Rangers website.

https://rangers.co.uk/club/investor-centre/shareholder-centre/circulars-admission-document/

“Loan facility” headlines and Working Capital facility references to the investors.

Furthermore, read the charges registered with Companies House reference no overdraft.

There are very few overdraft facilities with that kind of security over them.
 
WOS72 said:
I just stated it as it was.

Paul Murray was never a mega money man.

He was put on the original board because of his credentials as a CA and management consultant, along with his fandom.

He protested against Whyte and before returning to being a director was a campaigner and someone looking to coordinate investment.

I was merely commenting on the people asking “what’s he do anyway?” and “why is he there?”. No he isn’t a financier but has had a very positive role with the club. Once again, he is a non exec, companies need them.

I love that you get offended about me suggesting another director should go instead of him but then go on about Paul Murray enjoying the limelight. You misquoted me btw, I said son of a shareholder, not director, because that is really what he is.
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Apologies for the misquote, you are correct on that one.

It remains offensive to refer to a Director of our Club as the ‘son of’ anything/anyone. He deserves respect in his own right as both a success in business and as a Rangers Director.

I fail to see how me pointing that out is linked to Paul Murray enjoying the limelight, he does. It is also correct to say he ‘campaigned’ against Whyte, he did. I’ll add to that pot that concerns about Whyte were presented to Sir David Murray, via another Board member, by someone not linked to Paul at that time and prior to Paul Murray starting his ‘campaign’.

The difference with Paul was his desire to do it through media outlets.
 
boracay ranger said:
Barry Scott was not the representative of George Taylor or George Letham
I know them both and am 100% certain of this
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Thanks for that. It just seems strange that they are listed together in the accounts and the amount they put in shown as an aggregate sum rather than individuals. That suggests a connection, one of them took a place on the board so it is easy to think he represents all of them.

If it is not the case I am happy to be corrected.
 
Roscoblue said:
Apologies for the misquote, you are correct on that one.

It remains offensive to refer to a Director of our Club as the ‘son of’ anything/anyone. He deserves respect in his own right as both a success in business and as a Rangers Director.

I fail to see how me pointing that out is linked to Paul Murray enjoying the limelight, he does. It is also correct to say he ‘campaigned’ against Whyte, he did. I’ll add to that pot that concerns about Whyte were presented to Sir David Murray, via another Board member, by someone not linked to Paul at that time and prior to Paul Murray starting his ‘campaign’.

The difference with Paul was his desire to do it through media outlets.
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You ask for respect for someone but then drone on disrespecting someone for having a media profile?:rolleyes:
 
Ridiculous given our recent history that this has been announced with no context or explanation.

Could easily have kept these guys on until other directors came in, if that’s reason for their departure.

Very odd developments, im hoping positive overall
 
RFC_Champions said:
Gerrard has got previous of changing his mind at the very last minute.

Remember he was as good as signed for Chelsea before doing a u-turn!

Absolutely nothing surprises me regarding our club now. Infact I’m actually just waiting for this deal to fall through.
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True, but a completely different scenario. He was devoted to Liverpool, and leaving for another club - especially another English club - would have been difficult for him. Indeed, Mourinho tried to get him to Chelsea, Inter, & Real, and Gerrard refused each time, so strong was his tie to Liverpool.

I don't think he'll renege this time. It's too good an opportunity for him. If he brings us 55 (56, 57 :)) he'll be a hero here, and will be a strong candidate to replace Klopp (when he goes). If he fails here, he can always play the card of "took over when RFC was in dire straits, couldn't compete with Celtc's cash", etc.

IMO (for what it's worth, which is precisely nothing) is that it's a done deal unless DK can't commit firmly to providing him with a "war chest" of a certain amount. And I don't think that DK would have started to woo Gerrard unless he was pretty damn certain that he could do that.
 
ifu01334 said:
Ridiculous given our recent history that this has been announced with no context or explanation.

Could easily have kept these guys on until other directors came in, if that’s reason for their departure.

Very odd developments, im hoping positive overall
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You can't keep them on the board when they resign. Moreover, for both of them to resign on the same day, the obvious conclusion is that there's been major division on the board and they feel that they can't in good conscience back the future plans of the board faction that has won out. There was also no reason given for their resignations in the press release, which further suggests a falling out. Based on the timing, the balance of probabilities is that they strongly disagreed with the pursuit of Gerrard. The resignations do suggest that SG as manager is at least close to "a done deal". If they'd left right after his appointment it would've looked even worse, so at least there's that. I'm sorry to see PM go, though.

The news of the resignations reminded me of a quote I saw from Charlie Adam yesterday, talking about the potential hiring of SG: "It is important now that the board - or whoever is in charge of Rangers - brings the money to the table and they can spend it well." That phrase in the middle struck me as strange at the time, because why wouldn't the board be in charge? I don't think he would qualify things in that way unless he'd heard something about where the balance of power lay. It does seem that a division on the board has been brewing for some time, mainly flaring up over the (non-)hiring and (non-)firing of managers. Hopefully we can at least be more decisive now about things in general.
 
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