Walter's Interview

[flecky1 4]

Someone has to be made accountable for the mess we're in.

Is he hinting at no takeover and a fire sale???

The Chairman and Chief Executive have failed us big time

[simon 1,758]

Rumour has it, that Muir is on a huge bonus to broker a deal between the bank and any prospective buyer - hence he is playing hard-ball to get his cut - if correct of course ! Obviously the 40-60p in the pound offer is the stumbling block, because of the bank trying to get its pound of flesh, with Muir sitting in the middle as the troubleshooter - the more he gets for the bank, the more he will get as a cut. Basic incentivisation by the bank.

It has the ring of truth for me, because it looks like Smith is trying to use the fans as a medium to force the issue.

This is gutsy play by the bank & Muir, and would explain the secrecy around the issue, hence Smith has broken ranks. Smith knows that if he can mobilise the fans, then it may just be enough to sicken the bank and Muir.

If all this is correct, perhaps its time to to man the barricades and take the fight to Muir and the bank....?

At last someone who thinks like i do

So protest it is then? And will that make Lloyds accept this supposed bid that has been made? Or will they hold out for the full price like they are going to anyway? I am not in any way on the side of the bank I am just being realistic. The bank wants all the money they are due and they buyer if there is one wants the cheapest deal they can get. Protests will achieve nothing.

[schwantz 23]

Rumour has it, that Muir is on a huge bonus to broker a deal between the bank and any prospective buyer - hence he is playing hard-ball to get his cut - if correct of course ! Obviously the 40-60p in the pound offer is the stumbling block, because of the bank trying to get its pound of flesh, with Muir sitting in the middle as the troubleshooter - the more he gets for the bank, the more he will get as a cut. Basic incentivisation by the bank.

It has the ring of truth for me, because it looks like Smith is trying to use the fans as a medium to force the issue.

This is gutsy play by the bank & Muir, and would explain the secrecy around the issue, hence Smith has broken ranks. Smith knows that if he can mobilise the fans, then it may just be enough to sicken the bank and Muir.

If all this is correct, perhaps its time to to man the barricades and take the fight to Muir and the bank....?

At last someone who thinks like i do

So protest it is then? And will that make Lloyds accept this supposed bid that has been made? Or will they hold out for the full price like they are going to anyway? I am not in any way on the side of the bank I am just being realistic. The bank wants all the money they are due and they buyer if there is one wants the cheapest deal they can get. Protests will achieve nothing.

Yup do nothing, bury head in sand, accept it, works everytime huh...

[GrumpyRyan 8]

Rumour has it, that Muir is on a huge bonus to broker a deal between the bank and any prospective buyer - hence he is playing hard-ball to get his cut - if correct of course ! Obviously the 40-60p in the pound offer is the stumbling block, because of the bank trying to get its pound of flesh, with Muir sitting in the middle as the troubleshooter - the more he gets for the bank, the more he will get as a cut. Basic incentivisation by the bank.

It has the ring of truth for me, because it looks like Smith is trying to use the fans as a medium to force the issue.

This is gutsy play by the bank & Muir, and would explain the secrecy around the issue, hence Smith has broken ranks. Smith knows that if he can mobilise the fans, then it may just be enough to sicken the bank and Muir.

If all this is correct, perhaps its time to to man the barricades and take the fight to Muir and the bank....?

Well said!

I think Smith was pretty clear in what he said, I have read his quotes and listened to him twice! I am certainly not delusional and can see it!

[CanadianBacon 2,088]

Rumours of Murray's demise are everywhere - Murray International on the brink, etc, - yet I'm told by one who knows him that he or his various companies haven't missed a payment on any of its debts - the point at which any lender become worried.

Property values are on the up (much of his portfolio these days) and Rangers' debt of £30m (or thereabouts) is manageable for a club of our size and turnover.

Given all of this, I too am curious of Walter's motives for the timing of such revelations.

[KarlG 0]

Hello everyone. New member here.

Just had a thought about our current situation. I'm not saying for a second that it isn't bad, but do you think that there's any possibility that Walter is perhaps exaggerating slightly just how bad things are to lull our friends across the city into a false sense of security?

Just a thought, not a clutch at a straw! :-)

[Mikhailichenko 90]

I think WS got the reaction he wanted. Its stopped all the league is over pish which should keep everyone focused on the job in hand. Also, it might prompt some potential investors to get their finger out as well as having a wee dig at the board for not getting anyone in. I know, as do most people, that everything in the garden is not rosy but WS is a very clever man when it comes to the media. You can be sure WS has the best interests of the club at heart so I'm not overly concerned by his comments.

[PaulRFC1 115]

Nobody on RM knows the situation so stop talking shite.

If we were in a terrible situation we would have needed to sell in January which we didn't.

At the last AGM , we were told that we agreed to cut the debt by 1m a year and that we didnt need to sell.

Also Donald Muir said that Lloyds would not force us into administration under any circumstances.

And since then we have cut our wage bill and got 1.5million.

We will then bring in the champions league money which was a record high of 15+million im sure.

In the summer we will probably sell Bougherra for about 3-5Million and Boyd will probably leave.

Cutting our wage bill down more and bringing in some cash , we will then hopefully be in the champions league group stages bringing in more cash.

Mendes?

We didn't need to.

[Mikhailichenko 90]

Hello everyone. New member here.

Just had a thought about our current situation. I'm not saying for a second that it isn't bad, but do you think that there's any possibility that Walter is perhaps exaggerating slightly just how bad things are to lull our friends across the city into a false sense of security?

Just a thought, not a clutch at a straw! :-)

Welcome to the site mate.

I think you are spot on there. He will be hoping that it has that effect as well as one or two other reactions from various quarters.

[Blue Stars Bearette 1]

we will most likely lose Boyd, Davis, Bougherra

our best striker, midfielder, defender

ie spine removed from team with litlte hope of like for like replacement

this is bound to be part of whats on Walters mind

[GeneralCartmanLee 313]

There seems to be a protest forming on another board against the Bank on Valentine's day against Hibs at 1pm, outside the main entrance.

Anyone planning to make themselves heard? I am.

Outside the main door of the bank ?

What are you actually protesting about ?

The time might change, but its outside Ibrox' main entrance.

Its on FF, the belief is that the bank is the problem thats stopping the club moving forward so its against Muir and the Bank.

What is the bank doing to stop us move forward , i don't post there so you will need to explain as i don't understand this train of thought.....

I'm sorry were you born yesterday?

Maybe you should explain yourself instead posting stupid replies like this..... or are you just another nodding dog from follow follow......

Look its clear as day to me Muir is the middle man in all this, we should be accepting the generally accepted price of 60p in the pound for the club. The bank might want more, but if Muir really thought the way some seem to think he'd have allowed the deal to go ahead at £18m. Clearly some leverage needs to be applied.

As for your comments. Well thats typical of many I've came across on this particular board, very regimental and cliquey, with the same agendas. Perhaps thats why its less successful. Please don't insult me, its obvious you either don't take an interest in the clubs affairs, which I doubt, or you clearly already have an opinion which contradicts mines. So why don't you post what you think, instead of asking another question.

Generally accepted by whom ? The denizens of the banking system that post on follow follow. ? You cite me one instance where a going concern like rangers was allowed to write off there debt at 60p in the pound. The bank want more because we borrowed more and they want paid back. Muir works for Sir David Murray not Lloyds so how could he decide how much Lloyds accept. Criticise the man if you want but you don’t seem to have the first clue what his actual involvement is here.

My opinion is we need to pay back what we borrowed and then it’s down to the chairman to accept a reasonable bid for the club, idf that is a nominal sum then all the better for Rangers.

The laughable bit here is you saying I don’t take an interest in what is going on within the club, you don’;t seem to have the first clue what you are even protesting about.

[simon 1,758]

So protest it is then? And will that make Lloyds accept this supposed bid that has been made? Or will they hold out for the full price like they are going to anyway? I am not in any way on the side of the bank I am just being realistic. The bank wants all the money they are due and they buyer if there is one wants the cheapest deal they can get. Protests will achieve nothing.

Yup do nothing, bury head in sand, accept it, works everytime huh..

.

Yes exactly I am glad you understand the point I was making, instead of taking one sentence and jumping to the wrong conclusion. Phew.

[flecky1 4]

Hello everyone. New member here.

Just had a thought about our current situation. I'm not saying for a second that it isn't bad, but do you think that there's any possibility that Walter is perhaps exaggerating slightly just how bad things are to lull our friends across the city into a false sense of security?

Just a thought, not a clutch at a straw! :-)

we seem to do that every 6 months and they stupid bassas believe us!!

welcome mate

[GeneralCartmanLee 313]

Rumour has it, that Muir is on a huge bonus to broker a deal between the bank and any prospective buyer - hence he is playing hard-ball to get his cut - if correct of course ! Obviously the 40-60p in the pound offer is the stumbling block, because of the bank trying to get its pound of flesh, with Muir sitting in the middle as the troubleshooter - the more he gets for the bank, the more he will get as a cut. Basic incentivisation by the bank.

It has the ring of truth for me, because it looks like Smith is trying to use the fans as a medium to force the issue.

This is gutsy play by the bank & Muir, and would explain the secrecy around the issue, hence Smith has broken ranks. Smith knows that if he can mobilise the fans, then it may just be enough to sicken the bank and Muir.

If all this is correct, perhaps its time to to man the barricades and take the fight to Muir and the bank....?

stumbling block....it's pure fantasy

[flecky1 4]

we will most likely lose Boyd, Davis, Bougherra

our best striker, midfielder, defender

ie spine removed from team with litlte hope of like for like replacement

this is bound to be part of whats on Walters mind

where the hell are ye getting that from?

im sure the chairman told us we dont have to sell anyone

aye lets go into the champions league with lennon, loy and broadfoot leading our charge

[simon 1,758]

Nobody on RM knows the situation so stop talking shite.

If we were in a terrible situation we would have needed to sell in January which we didn't.

At the last AGM , we were told that we agreed to cut the debt by 1m a year and that we didnt need to sell.

Also Donald Muir said that Lloyds would not force us into administration under any circumstances.

And since then we have cut our wage bill and got 1.5million.

We will then bring in the champions league money which was a record high of 15+million im sure.

In the summer we will probably sell Bougherra for about 3-5Million and Boyd will probably leave.

Cutting our wage bill down more and bringing in some cash , we will then hopefully be in the champions league group stages bringing in more cash.

Mendes?

We didn't need to.

I don't know about that mate. Funny feeling we did. With such a thin squad we could of done with hanging on to him.

[simon 1,758]

Hello everyone. New member here.

Just had a thought about our current situation. I'm not saying for a second that it isn't bad, but do you think that there's any possibility that Walter is perhaps exaggerating slightly just how bad things are to lull our friends across the city into a false sense of security?

Just a thought, not a clutch at a straw! :-)

we seem to do that every 6 months and they stupid bassas believe us!!

welcome mate

I am struggling to understand how airing details of our financial state will benefit us in anyway? How will the t**** be lulled into a false sense of security? And to do what exactly? I am not having a dig I am just really confused by it.

[KarlG 0]

Me and my big mouth!! :-) Two minutes after my post, I read this in The Herald...

Rangers’ banker has threatened to put the football club into administration in a dramatic intervention to tackle its mounting debts.

Lloyds Banking Group issued the ultimatum to the club’s shocked board as the only alternative after it initially rejected a “devastating” business plan based on swingeing cuts.

The Herald can today reveal the extent of the turmoil at Ibrox that has left Rangers under the control of its banker. Lloyds has placed Donald Muir, who helped rescue Northern Rock, on to the board as its representative.

It can also be revealed that Dave King, the Glasgow-born multi-millionaire and former investor in the club, now based in South Africa, is the leading contender to buy Rangers. He has opened negotiations but is having difficulties in striking a deal for the club.

It is believed the price the bank wants for Rangers is £30 million, equal to the club’s total debt.

Sources close to the club told The Herald last night: “The business plan from the bank will only do one thing – strangle the club slowly. A new owner is a must or else Rangers will be in dire straits on and off the pitch.

“The board tried to fight it as much as it could, but was told it would be placed into administration. The effects of the business plan will be devastating.

“Dave King wants to buy Rangers, and there are others expressing interest, but the bank wants a premium price of £1 for £1 in terms of the debt so nothing is imminent in terms of a deal.

“Its stance is surprising when, across the country, it is selling off assets at 25p, 30p or 40p to the pound in terms of debt.

“But because this is Rangers, it is obviously viewing it differently. Maybe it feels wealthy fans will let their hearts rule their heads, but all the while the club is now entering dangerous grounds.”

There is also interest from businessmen in the west of Scotland, who could combine to add their resources to those of Mr King, or make their own moves to buy Rangers.

Former chairman Sir David Murray, who remained majority shareholder after he stood down on August 26, is no longer involved in making key decisions.

Mr Muir, who was placed on the board of Rangers nine days ago at the bank’s insistence, is now effectively running the club.

He has been put in to oversee an immediate attempt to reduce debts, which would include the sale of star players over the coming months subject to the bank’s approval, with no replacements.

The bank’s plan was put to the Rangers board this month and shocked its members, including new chairman Alistair Johnston and chief executive Martin Bain, who believe the club has to be kept as attractive as possible to lure a new owner or investor.

The board refused to accept the business plan the bank put in front of them.

However, they were told that Rangers would be put into administration – which would probably allow the bank to recover its cash – if the plan was not accepted by Friday, October 16. Later that day, Mr Muir was confirmed as a board member.

In the aftermath of Saturday’s match against Hibernian, manager Walter Smith admitted the bank – which is 43% owned by the taxpayer and now controls the Bank of Scotland brand – was effectively in charge.

Lloyds Banking Group said at the weekend: “The bank continues to be very supportive of both the club and the board as they manage the business through the more difficult economic conditions currently prevailing.”

[Frankie 505]

karl - that article is a few months old...

[flecky1 4]

Me and my big mouth!! :-) Two minutes after my post, I read this in The Herald...

Rangers’ banker has threatened to put the football club into administration in a dramatic intervention to tackle its mounting debts.

Lloyds Banking Group issued the ultimatum to the club’s shocked board as the only alternative after it initially rejected a “devastating” business plan based on swingeing cuts.

The Herald can today reveal the extent of the turmoil at Ibrox that has left Rangers under the control of its banker. Lloyds has placed Donald Muir, who helped rescue Northern Rock, on to the board as its representative.

It can also be revealed that Dave King, the Glasgow-born multi-millionaire and former investor in the club, now based in South Africa, is the leading contender to buy Rangers. He has opened negotiations but is having difficulties in striking a deal for the club.

It is believed the price the bank wants for Rangers is £30 million, equal to the club’s total debt.

Sources close to the club told The Herald last night: “The business plan from the bank will only do one thing – strangle the club slowly. A new owner is a must or else Rangers will be in dire straits on and off the pitch.

“The board tried to fight it as much as it could, but was told it would be placed into administration. The effects of the business plan will be devastating.

“Dave King wants to buy Rangers, and there are others expressing interest, but the bank wants a premium price of £1 for £1 in terms of the debt so nothing is imminent in terms of a deal.

“Its stance is surprising when, across the country, it is selling off assets at 25p, 30p or 40p to the pound in terms of debt.

“But because this is Rangers, it is obviously viewing it differently. Maybe it feels wealthy fans will let their hearts rule their heads, but all the while the club is now entering dangerous grounds.”

There is also interest from businessmen in the west of Scotland, who could combine to add their resources to those of Mr King, or make their own moves to buy Rangers.

Former chairman Sir David Murray, who remained majority shareholder after he stood down on August 26, is no longer involved in making key decisions.

Mr Muir, who was placed on the board of Rangers nine days ago at the bank’s insistence, is now effectively running the club.

He has been put in to oversee an immediate attempt to reduce debts, which would include the sale of star players over the coming months subject to the bank’s approval, with no replacements.

The bank’s plan was put to the Rangers board this month and shocked its members, including new chairman Alistair Johnston and chief executive Martin Bain, who believe the club has to be kept as attractive as possible to lure a new owner or investor.

The board refused to accept the business plan the bank put in front of them.

However, they were told that Rangers would be put into administration – which would probably allow the bank to recover its cash – if the plan was not accepted by Friday, October 16. Later that day, Mr Muir was confirmed as a board member.

In the aftermath of Saturday’s match against Hibernian, manager Walter Smith admitted the bank – which is 43% owned by the taxpayer and now controls the Bank of Scotland brand – was effectively in charge.

Lloyds Banking Group said at the weekend: “The bank continues to be very supportive of both the club and the board as they manage the business through the more difficult economic conditions currently prevailing.”

that story is from October last year i think

its not recent

pro media also printed it

its taken from another paper which printed it in October

[GeneralCartmanLee 313]

karl - that article is a few months old...

It's also nonsense.....

[Blue Stars Bearette 1]

we will most likely lose Boyd, Davis, Bougherra

our best striker, midfielder, defender

ie spine removed from team with litlte hope of like for like replacement

this is bound to be part of whats on Walters mind

where the hell are ye getting that from?

im sure the chairman told us we dont have to sell anyone

aye lets go into the champions league with lennon, loy and broadfoot leading our charge

I understood he was referring to the January window

if we don't win the league and don't have a buyer our most valuable assets are in danger

Boyd is out of contract

Davis is playing so well I'll bet one or two managers are thinking of coming in with a bid in the summer

Boogie also has indicated he would like a move south when the right offer comes in

[KarlG 0]

Hello everyone. New member here.

Just had a thought about our current situation. I'm not saying for a second that it isn't bad, but do you think that there's any possibility that Walter is perhaps exaggerating slightly just how bad things are to lull our friends across the city into a false sense of security?

Just a thought, not a clutch at a straw! :-)

we seem to do that every 6 months and they stupid bassas believe us!!

welcome mate

I am struggling to understand how airing details of our financial state will benefit us in anyway? How will the t**** be lulled into a false sense of security? And to do what exactly? I am not having a dig I am just really confused by it.

Well my thinking would be that if they think things are SO bad with us, they might try and avoid spending a lot of money on transfers, or maybe persist with a dodgy manager who they might think will still be 'good enough', or maybe the Celtic players will start listening and become overconfident.

I'm NOT saying that that is the case, but I wouldn't underestimate the influence (perceived) bad news about your opponents can have on a team.

[Davie2909 21]

Rumours of Murray's demise are everywhere - Murray International on the brink, etc, - yet I'm told by one who knows him that he or his various companies haven't missed a payment on any of its debts - the point at which any lender become worried.

Property values are on the up (much of his portfolio these days) and Rangers' debt of £30m (or thereabouts) is manageable for a club of our size and turnover.

Given all of this, I too am curious of Walter's motives for the timing of such revelations.

I totally agree with you on this its a very strange time for him to come out with this. The way i see it even if a buyer is not found the club should be making enough money every year to service the debt and have money to buy player and offer new contracts etc.

£30mill to a club like Rangers is a manageable debt clearly the club has not been living within its means this is why the squad has been cut so much.

[MosesMcNeil 1,664]

There is a quite bewildering array of wild stabs in the dark peppering this thread.

I well remember the iconic Pat Pheonix (iconic to my early teen loins anyway) saying: "If you ask enough people for advice - eventually someone will tell you what you wanted to hear."

This thread appears to mimic the wisdom in part - if you make enough guesses someone will eventually be right.