Prior: Rangers Exec's on Crazy Money

[Ace 3,556]

According to back page of today's DR

**editd to include article**

IBROX investor Kieran Prior claims the revival of Rangers is being strangled by extravagant levels of executive pay.

The former City of London whizzkid has already been doing his homework, less than 24 hours after Record Sport revealed he had forked out around £400,000 to snap up 1.2 per cent of the club.

In his first major interview, Prior says the current Ibrox board have got it wrong when it comes to paying big salaries and hefty bonuses to executives such as finance boss Brian Stockbridge.

The 34-year-old, who admits to a friendship with ousted chairman Malcolm Murray, says greater corporate governance is key and the board must consider reconstruction if Rangers are to emerge as a force again.

The former Goldman Sachs trader is also calling for greater fan representation at boardroom level as he admitted to fears the £22million raised by the recent share issue is in danger of being squandered over time.

Prior said: “I’m still waiting on a copy of the full accounts but from the papers I’ve seen in the last 24 hours executive renumeration is approximately £1.5m.

Revealed: Rangers investor Kieran Prior explains why he decided to buy into the Ibrox team

“I have good faith those figures are real and I’ll stand by those quotes.

“I find it astonishing a club in the Third Division has paid that amount of money to memb wers of staff, including Mr Stockbridge.

“As a former banker I know the basic salary of managing directors on trading desks range from £100,000-£300,000.

“That’s in London and at Goldman Sachs, one of the most profitable institutions in the world and yet I see Mr Stockbridge and Charles Green have taken similar salaries from Rangers.

“Although Mr Stockbridge is finance director he is a chartered accountant by academic standards.

“He is earning in excess of £200,000, which is overvaluing your FD – and when bonuses match your salary, that seems ludicrous.

“I can see the argument for a chief executive, but why the hell should a bonus be paid for winning the Third Division to the FD? It would seem exploitative in nature, at best.

“We’re in a unique position at Rangers where we can grow the club and a stockpile of wealth so when we reach the pinnacle of the Scottish game again there is an opportunity to go straight back where we belong – at the top, nowhere else.

“I’m afraid money is being dwindled away, given the figures being bandied about.”

It is understood bonuses were paid to two executives – Stockbridge and Green pocketing around £550,000.

The Rangers board has been ridden with in-fighting over the last year and Walter Smith was forced to step in and become chairman last month in a bid to quell tensions between warring factions

Prior added: “The current board seems a very legacy-ridden, Charles Green affair.

"That’s not to say Charles Green didn’t do some good things, but we need to move forward.

“We must make the club financially sound for the fans especially, as well as other shareholders. We need to rebuild the board and take a city-friendly, corporate governance-laden approach.

“Walter Smith aside, as he is untouchable and an institution in himself, we must clean up the act of the board.

Unless we can change its constitution and give it a more corporate friendly base, I can see struggle occurring.

“That would only detract from a great opportunity. We have time on our side to work under the radar these next couple of years and rebuild finances on the back of the sixth biggest attendances in Britain.

“We can build up our youth academy, our team and hopefully get back to the top of the Scottish game and playing in Europe again.”

http://www.<No links to this website>/sport/football/football-news/ibrox-investor-kieran-prior-claims-1954019

[BRITNEY IS NOT FEELING IT 8,293]

No doubt from one of their "sources"

[MasterD 7,435]

Doesn't take a guy with a high IQ to work that out. They have been for years.

[1st_Jan_1994 4,868]

Good on this wee guy btw hopefully he blows the lot open

[Right_To_Censor 1,951]

"show me potato salad"

[bombaybadboy08 15,660]

Bull in a China shop

[Chuck_Fickens 425]

I'm not totally up on this guy. Has he invested any money yet? If not, why should I give a shite about his opinion?

[ForeverBlue_Since91 2,895]

You don't have to be an investor to know that.

[ForeverBlue_Since91 2,895]

Walter Smith is one of them on crazy money. 50k a year and is only part time.

[1st_Jan_1994 4,868]

I'm not totally up on this guy. Has he invested any money yet? If not, why should I give a shite about his opinion?

He's bought 400 grand of shares and rumour has he's bought another 360 grand worth

He's going to buy enough to have a say

I'm happy to trust him but wouldn't amaze me if he was a taig infiltrating us either he's worth millions

But am happy to give him a chance

[Chuck_Fickens 425]

He's bought 400 grand of shares and rumour has he's bought another 360 grand worth

He's going to buy enough to have a say

I'm happy to trust him but wouldn't amaze me if he was a taig infiltrating us either he's worth millions

But am happy to give him a chance

Cheers.

I suppose that's just where we are. If they're putting money in, we have to put a bit of trust in them. There don't seem to be any traditional Rangers men with deep pockets snapping up shares. Seems like a solid investor though, hope it's legit.

[1st_Jan_1994 4,868]

Cheers.

I suppose that's just where we are. If they're putting money in, we have to put a bit of trust in them. There don't seem to be any traditional Rangers men with deep pockets snapping up shares. Seems like a solid investor though, hope it's legit.

Exactly mate - so called Rangers men either cunts or nowhere to be seen

[mo55 65]

He's bought 400 grand of shares and rumour has he's bought another 360 grand worth

He's going to buy enough to have a say

I'm happy to trust him but wouldn't amaze me if he was a taig infiltrating us either he's worth millions

But am happy to give him a chance

I think he is probably a taig infiltrating us.

Real so called rangers men letting the club down again.

[1st_Jan_1994 4,868]

I think he is probably a taig infiltrating us.

Real so called rangers men letting the club down again.

I'm trying not to think that way as it sounds really paranoid but expect the unexpected when it comes to us sadly

[theblueoysterbar 19,610]

Walter Smith is one of them on crazy money. 50k a year and is only part time.

Oh come on, that's buttons in the exec world.

[trueblueal 2,117]

Anyone able to paste the story?

[Jaffinoz 49]

Fuck I'm on 80 grand a year and can't manage

[bombaybadboy08 15,660]

I think he is probably a taig infiltrating us.

Real so called rangers men letting the club down again.

1st_Jan_1994 was slightly tongue in cheek but fucksake,

[General Smiley 494]

Fuck I'm on 80 grand a year and can't manage

[nvager 498]

I hope he does well - seems clever enough.

[Non_Sucumbi 876]

Does he have any connections to Craig Whyte, the Easdales or Ellis.

I feel there should be an inquiry.

[californiadreamin52 339]

could only have been Green who started this gravy train

[CaptainofIndustry 921]

He's bought 400 grand of shares and rumour has he's bought another 360 grand worth

He's going to buy enough to have a say

I'm happy to trust him but wouldn't amaze me if he was a taig infiltrating us either he's worth millions

But am happy to give him a chance

If he's a Taig infiltrating us, he'll look to get rid of the capable guys and keep the expensive incompetents. Which sounds like good news for Ally & co...

[Alnic3856 358]

Don't trust this cunt at all, every company he is involved in now or has been involved in, in the past has never filed accounts and is dissolved with no record of ever having filed any, any co-directors of those companies have no links to any other businesses other than those involving Prior. He has virtually no discoverable history on the internet despite being (Apparently) one of the most intelligent men in the world and a city whizkid, he seems happy to let the newspapers peddle the Myth that his IQ is 234, which cannot be true as it puts him as the most intelligent person alive in the world today, just slightly above Korean engineer Kim Ung-Yong and way ahead of the likes of Stephen Hawking and Gary Kasparov. What are the chances of this utter genius existing and never having been in the public eye before? So here we have a guy, the smartest person alive in the world today and a financial genius, has ran a few companies which have never filed accounts, all the people involved in those companies cannot be traced to any other company or business, (at least not using normal company check tools etc) has suddenly appeared on the Radar, invested in Rangers (His boyhood heroes) and begins upsetting the apple cart right around season ticket renewal time? Now for the sake of the club I hope his intentions are genuine, but in my opinion anyone as high profile as this guy should be, who has no apparent history other than a couple articles/interviews by convenient childhood friends etc just seems fucking dodgy to me, fuck sake I am nobody but if you google me there are a few articles pop up, virtually everyone has a online history of some sort, but yet this guy, the smartest person alive today and a financial genius has nothing? other than recent articles and childhood friend character references? I don't trust the cunt one bit, I hope I'm wrong, I really do, but the last cunt with no discoverable history of note who got involved with us was Whyte and he went to crazy lengths to hide his tracks, this cunt Prior's past seems to have been covered up/ deleted/ unreported. Question is why?

[corkinator 611]

Fuck I'm on 80 grand a year and can't manage

I hear ye bro!