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Chairman's Update


eskbankloyal

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"A further unanticipated investment was made to pay off the Sports Direct loan and to recover all security held by Sports Direct. That has now been completed and the Club has formally given notice to end the relationship with Sports Direct while still reserving our right to proceed with challenges to the existing suite of contracts and side agreements in a court of law"

 

 

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Might not be the most important issue but I'm delighted to read this.

 

'There has also been necessary investment into the infrastructure and facilities at Ibrox. The stadium and its surrounds were severely neglected by prior Boards that were intent on massive cost-cutting measures. Further significant investment is required at Ibrox and the board is presently considering a programme of work to ensure that it is returned to its status as one of the best and most iconic stadiums in Britain. Given the scale of what is required this will take some time to complete.'

 

Ibrox is a beautiful stadium, looking forward to seeing where they go with this.

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7 minutes ago, eskbankloyal said:

As someone involved in the RST, what are your thoughts on this?

 

'Work is also ongoing to merge the existing supporters groups. The new organisation that emerges will provide Rangers fans with a way to get even closer to the Club and to increase the supporter shareholding position.'

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5 minutes ago, eskbankloyal said:

"That has now been completed and the Club has formally given notice to end the relationship with Sports Direct while still reserving our right to proceed with challenges to the existing suite of contracts and side agreements in a court of law"

 

 

:D

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3 minutes ago, TheBluebells said:

As someone involved in the RST, what are your thoughts on this?

 

'Work is also ongoing to merge the existing supporters groups. The new organisation that emerges will provide Rangers fans with a way to get even closer to the Club and to increase the supporter shareholding position.'

All for it personally but will ultimately be up to the members of each organisation and the wider fan base.

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Just now, eskbankloyal said:

All for it personally but will ultimately be up to the members of each organisation and the wider fan base.

Aye it would be nice to have the fans more united, be interesting to see how this plan develops, id imagine it will be a lengthly and 'interesting' process.

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3 minutes ago, BridgeIsBlue said:

Aye very good Dave but where's the money?

It's been there as and when we've needed it, regardless of if it's been for players, SD pay off, refurbishing the stadium. 

It's been done as an investment in return for shares and with no need for repayment.

There may not be a big £20m bank balance but that's not looking like a problem as everything has been done and paid for when necessary.

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