McMurdo's View on the Boardroom War

[AlCapone 7,678]

Where has the £22m IPO money gone then, if we only have £10m ST money in the bank?

Obviously we can only speculate on what it was spent on until the AGM, but a sizeable chunk of it was almost certainly 'pissed away'.

Season ticket money is only about £7 million. Not sure if you are aware but we do have running costs so I'm sure the accounts will confirm

[TheFarmer 260]

I've read all the interviews, and I've read all the speculation ~ the fact remains we do not know, nor will we until the figures are published.

Then, and only then can we say whether its being run right or not, is that not logical?

I'm guessing your one of the ones that trusted Whyte well into administration due to there being no audited accounts?

[Allanger 625]

I'm guessing your one of the ones that trusted Whyte well into administration due to there being no audited accounts?

You do some amount of guessing. Carry on

[TheFarmer 260]

Season ticket money is only about £7 million. Not sure if you are aware but we do have running costs so I'm sure the accounts will confirm

Running costs of £30m + in a season? in the fourth tier?

If that's the case it just confirms to me that the board needs a massive overhaul.

[AlCapone 7,678]

Yes confirmed by the companies financial director.

If you believe that a club in Scotland's third/fourth tier should be spending £30m+ in 12 months then you are deluded.

I think you'll find no other club in the 3rd 4th tier has a management team getting paid £1.5 million, McCulloch getting paid a million, Alexander 800k, Wallace 600k, has the million pound a year Miurray Park costs, Million pound a year Ibrox running costs, bought the Albion car park, bought Edmiston houes blah blah blah

[AlCapone 7,678]

Running costs of £30m + in a season? in the fourth tier?

If that's the case it just confirms to me that the board needs a massive overhaul.

Where are you getting that figure?

[RFC55 108,681]

Roll on the footy tonight.

Ahmed brother

[shankillblue1 349]

Bully trait. Just as I knew him through business over 15 years ago. I know everything, I am always right. Making big statements on everyone else's behalf. Guy's a monster, but easily put in his place. I'm sure the Jesuits got this fucker young. Needs taken down a peg and hopefully the Chinese will be his Achilles heel. This cunt will fall hard and maybe much sooner than he thinks. Either put in your small change, or shut to fuck up and fuck off!

[AMcK 92]

I've read all the interviews, and I've read all the speculation ~ the fact remains we do not know, nor will we until the figures are published.

Then, and only then can we say whether its being run right or not, is that not logical?

Not sure how our Financial Director confirming the money is gone can be viewed as speculation.

[californiadreamin52 339]

I've read all the interviews, and I've read all the speculation ~ the fact remains we do not know, nor will we until the figures are published.

Then, and only then can we say whether its being run right or not, is that not logical?

Do you mean just like the way we trusted Whyte. You don`t need to put your hand in a fire to know it will get burnt and we have been burnt to many times

[bornabear 6,198]

You do some amount of guessing. Carry on

It's the only way he can see life, not logic, just guessing.

[Dutchy 1,200]

The only way I believe you can make any sort of money from a football club is if it's involved in the CL, and, ideally going one better, at least, than the group stages.

That's why I'm constantly wondering what all these 'money men' are getting involved with Rangers for.

If it were a long term investment, I'd understand because we will be back in the big time, in time, but they way all these 'money men' are fighting each other so publicly is dragging our share price down lower and lower which forces me to think that they're all just here for the quick buck.

What a shambles!

[Carsons Dog 9,878]

Roll on the footy tonight.

Using the word 'footy' should be a banning offence

[Edmiston Drive 3,846]

The only way I believe you can make any sort of money from a football club is if it's involved in the CL, and, ideally going one better, at least, than the group stages.

That's why I'm constantly wondering what all these 'money men' are getting involved with Rangers for.

If it were a long term investment, I'd understand because we will be back in the big time, in time, but they way all these 'money men' are fighting each other so publicly is dragging our share price down lower and lower which forces me to think that they're all just here for the quick buck.

What a shambles!

Zeus and all the investors became involved because they got the Company and the assets cheap and started life debt free(please note mini would have started with £10m in debt) Now as you say the money is made of you get CL football, their goal was to get as much for their equity holdings when the time was right.

Now everyone shouts Salaries................well yes salaries and why not they hold senior positions, yet when people try to use Ally and co re salaries well that tends to be a different situation. The institutional investors if it's pension fund money have to take medium to long term views, others can be in for short term and cash in when they see their margins achieved..............we have a third group who can sell even at a loss.........well we took the gamble didn't work.....but they can set off loses against other CGT profits(couldn't be assed checking if this was still the same).

Now the pourchase of the old Ltd Com was there for anyone to go and buy............forget the crap it was a stich up ...the guys involved D&P make a bloody good living are they going to risk going to jail for someone, when every bugger under the sun was watching them, mini stated that he ws workign closely with D&P to sort out a CVA..........perhaps he was, but you can bet your bottom dollar others were too.

Mini mad a pigs ear when he tried to strike a deal with Ticketus.........now he tells us they jumped at £10m (where was mini getting this money) and other sources saying Ticketus confident in getting all their cash back...........then they dumped mini.

Mini comes back,look if we get to the last 16 we can give you extra money..........fine paul, how much you giving just now. This is the wizz kid we are being told about from certain sections of the fanbase...........

Re the above does it look like he is.................christ he was a non exec Director because he paid a one of 25k to massage his ego. Had no say on the board........yet we're lead to belive he reduced the debt. a deer right enough.

Now he might be a jovial chap and all that, but his business sense seems to be lacking somewhat.

The guy will add heehaw to the Ltd Co, surely people can see that based on the last two years and some may say with justification longer than this.

[Non_Sucumbi 876]

Using the word 'footy' should be a banning offence

yes especially when everyone knows that its S-A-C-C-E-R-R....

[bombaybadboy08 15,660]

Using the word 'footy' should be a banning offence

Fuckin mon then.

[Bad Robot 21,132]

I think JM will invest and eventually buy us in the long term although I don't understand why he won't do it just now as it would mean more money for him once were back to full strength.

[AlCapone 7,678]

I think JM will invest and eventually buy us in the long term although I don't understand why he won't do it just now as it would mean more money for him once were back to full strength.

Dont want no Scottish Republican near my club fcuking about with our traditions

[Bothwellbear 1,392]

Dont want no Scottish Republican near my club fcuking about with our traditions

How is McColl a republican?

[Parlaneloyal 353]

McMurdo is a fud but i agree with what hes said here

[Carsons Dog 9,878]

Fuckin mon then.

Fukk off Cecil

Away and watch the footy wae yer glass o Pimms

[Johnny Hubbard 280]

Yup, speculation just as I thought. I think I'll wait to see the accounts before I make up my mind, feel free to do what you please of course.

surely it was said at that fans meeting that there was £10 million in the bank and that included ST money......that's not speculation is it ? Here is an extract from CRO about the meeting

The question was then asked of our current bank balance and reports of disappearing IPO money. Our financial director responded, "Yes, we raised £22 million. It’s not true that we have £7 million in the bank. Audited accounts will be out in mid-September and they will show that we have £10 million in the account. The Club is not in financial distress."

So far, so good.

Stockbridge though soon began to evade questions and was unable to provide an answer on the composition of our £10 million in the bank in terms of season-ticket income and IPO cash. We were told that "It goes into the same pot of money. We can’t distinguish between the two."

He later confirmed that £1.5 million of that money was income received from Sports Direct "

[Young Citizen 7]

Mcmurdo is like a boil.

[AlCapone 7,678]

How is McColl a republican?

Wants independence, dont need no porridge munchers near the Rangers

[Bothwellbear 1,392]

Wants independence, dont need no porridge munchers near the Rangers

That doesnt make him a republican as such in the dirty sense. An independent Scotland will still have the Royal Family. Dont be dissing porridge either.. good for you that.