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'The bank has taken over the club'?


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I hear Walter say that as well.

When Alistair Johnston took over a chairmain did he not say something like if the bank were running the club then he would not be in the job?

He did indeed say that. Did anyone else hear Chick & Traynor saying on radio Scotland that Dave King was most likely to buy the club ?

Who is Dave King? background etc anyone know

Just asked my dad and he said -

"Glasgow lad made good and one of the richest men in South Africa".

Unless he is mistaken...

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"Is that not obvious to everybody?" asked Smith.

"As far as I'm aware that's the case. David Murray has stepped down (as chairman) and they have placed a representative of the bank (Donald Muir) on the board so as far as I'm aware that's the situation.

"It's obviously not a good situation, it's not a situation that anybody wants the club to be in. It's been up for sale for a while.

"It's not the bank's fault, if the bank has to take over in these circumstances they are not going to invest in a football club, are they?

"I think we have been fairly honest about the situation. The players at the club have been up for sale since January and we haven't bought a player for what will be 18 months in this transfer window.

"These circumstances have been here for a while now and I've been perfectly aware of them and, despite some headlines, have never complained about it.

"I'm not complaining about it now. I'm just saying to you it's a fact and it's a fact of life just now for a lot of companies throughout the world who are having a struggle financially at the moment.

"When David Murray stepped away from the club, I felt that was a bad thing for Rangers in the sense that he tried as hard as he could over the 20 years to invest in the club and now we don't have that situation.

"The quicker that gets cleared up, the better it will be for Rangers."

Asked if there were any potential buyers on the horizon, Smith replied: "I'm not that involved in that aspect, you would need to ask others. I'm just trying to make sure we can pave our way through and hopefully there can be a change sooner rather than later."

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I hear Walter say that as well.

When Alistair Johnston took over a chairmain did he not say something like if the bank were running the club then he would not be in the job?

He did indeed say that. Did anyone else hear Chick & Traynor saying on radio Scotland that Dave King was most likely to buy the club ?

Who is Dave King? background etc anyone know

Just asked my dad and he said -

"Glasgow lad made good and one of the richest men in South Africa".

Unless he is mistaken...

Cheers will get onto google and see what i can find

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"Is that not obvious to everybody?" asked Smith.

"As far as I'm aware that's the case. David Murray has stepped down (as chairman) and they have placed a representative of the bank (Donald Muir) on the board so as far as I'm aware that's the situation.

"It's obviously not a good situation, it's not a situation that anybody wants the club to be in. It's been up for sale for a while.

"It's not the bank's fault, if the bank has to take over in these circumstances they are not going to invest in a football club, are they?

"I think we have been fairly honest about the situation. The players at the club have been up for sale since January and we haven't bought a player for what will be 18 months in this transfer window.

"These circumstances have been here for a while now and I've been perfectly aware of them and, despite some headlines, have never complained about it.

"I'm not complaining about it now. I'm just saying to you it's a fact and it's a fact of life just now for a lot of companies throughout the world who are having a struggle financially at the moment.

"When David Murray stepped away from the club, I felt that was a bad thing for Rangers in the sense that he tried as hard as he could over the 20 years to invest in the club and now we don't have that situation.

"The quicker that gets cleared up, the better it will be for Rangers."

Asked if there were any potential buyers on the horizon, Smith replied: "I'm not that involved in that aspect, you would need to ask others. I'm just trying to make sure we can pave our way through and hopefully there can be a change sooner rather than later."

thanks (tu):D

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Just asked my dad and he said -

"Glasgow lad made good and one of the richest men in South Africa".

Unless he is mistaken...

Has he also told you he owes the south african tax man a 180 million quid?

:lol: No...

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This guy King seems to be a bit of a rogue not sure we would want the baggage he will bring with him, suspected of fraud and tax evasion :sherlock:

Is that how far we have sunk?

I think it is a concern his fraud & tax investigation. He put in money to the club a few years ago if I remember correctly.

Chick did say that he believed there was also a consortium looking at buying the club, lets hope this gets sorted sooner rather than later.

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Walter's obviously had enough of the uncertainty. Whatever you think of his tactics and team selection Walter is a honourable man and I would believe him over Martin Bain.

As for Dave King he invested around £25m in the good times but not 100% sure about him. To be honest I've got a feeling that David Murray will sell his stake for next to nothing as long as someone comes in and clears the debt

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Sounds like a bit of dissension in the ranks- Walter being open and Bain and Johnston being the Murray mouthpiece.

Seems like the bank have the final say on spending and where any revenue goes and looks like forced player sales with nothing reinvested in playing staff.

I think there will be a lot of drama around new year and a lot of farewells.

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its just coming out in the open at least. It is very very sad times for us. Time for us all to band together as supporters and get behind the club. Its time for a positive reaction from us because we can get through this and be where we should be again

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Anyone else question the timing of this? Yes it has been speculated about for a long time but Wattie comes out and says it at one of our lowest points in the season?

Could be trying to deflect some of the negativity surrounding the club.

Interesting times ahead guys

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walter is much too blame for the financial mess as bain and sdm, i have no sympathy for the man on this one, and even if we had money i have lost trust in giving walter the funds to spend it wisely, i.e whittaker, velicka, cousin, etc

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Anyone else question the timing of this?

In fairness, it was in direct response to the question by Chick Young asking Walter if the changes in the board & at the top of the club was having a direct influence on the players & their performances. The same questions were asked of McCoist & Boyd. Ally skirted around it & Boyd basically said no, that the players just had to concentrate on their jobs on the park.

The timing is definitely a factor, but what it actually means is anybody's guess. It could mean various things.

Interesting to hear that the bank have a seat on the board. I wonder how long that's been the case & what exactly their authority is. Is it really as bad as Walter said - that the bank are running the club or is it just that the bank have a place on the board to discuss financial decisions & that Walter is just throwing the dummy out the pram because he wasn't allowed any money in the summer & is unlikely to be given any in January, if he even still has a job??

Lots of questions & lots of speculation!!

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Better out than in though, a well run Rangers is an attractive preposition, we may be sold off in similar Chelsea/ Halifax Estate Agency circumstances for a nominal fee = £1 or similar.

I just find it hard to get my head round it with 40,000 book holders and all the commercial spin offs, merchandise etc etc we are in such a mess.

If this does not get buyers interested nothing will.

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