Jump to content

Gers probe Bain's 130k pay hike


KingKirk
 Share

Recommended Posts

AXED Rangers chief executive Martin Bain is being probed by the club over an alleged £130,000 pay rise, The Scottish Sun can reveal.

It's claimed the wage hike for Bain - putting him on £633,000 a year - had NOT been officially approved by the board.

New owner Craig Whyte suspended Bain after buying the Ibrox club last month.

It's understood that Bain's annual salary was increased at a time when Rangers were toiling under a mountain of debt and had to slash the budget.

And it's thought the length of the 44-year-old's contract was under question. Yesterday Bain called in lawyers over his job axe.

His time at Ibrox was over after he and four other Gers chiefs released a bombshell statement voicing fears about Whyte's ownership of the club.

They hit out just an hour after the tycoon bought Gers from Sir David Murray in a £33million deal.

Bain at war with new Rangers owner Whyte

Read more: http://www.thescottishsun.co.uk/scotsol/homepage/news/3649562/Gers-probe-Bains-130k-pay-hike.html#ixzz1PrXgTEJM

Link to post
Share on other sites

  • Replies 88
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

I would find it astonishing if Bain could award himself a pay rise without Sir David Murray giving it his approval.

Maybe that's what's happened . . . SDM has approved it without consulting the board.

Whichever way round, I only hope we avoid a messy court case.

Link to post
Share on other sites

I really do not understand the logistics of this. The CEO of a company cannot increase his own wage, it is set by other individual's on the board usually non-executive director's. It's then submitted for approval at the next board meeting and if they wish publicised to their member's to vote on it[the vote is pointless really since even if it is rejected by the Members the Board are under no obligation to alter it]. Its impossible that this was NOT discussed by the entire Board ? If it was ignored then that is ridiculously poor management, it's like being the zookeeper at a zoo and not bothering to check if the cages are locked. The entire board must have been fucking downy's.

Link to post
Share on other sites

This was announced in one of the papers months ago.

He met a certain criteria which allowed him to invoke a clause in his deal.

He was hardly going to stick an extra 100 odd thousand onto his salary without anybody noticing. doh

Link to post
Share on other sites

This was announced in one of the papers months ago.

He met a certain criteria which allowed him to invoke a clause in his deal.

He was hardly going to stick an extra 100 odd thousand onto his salary without anybody noticing. doh

He could have waived it though considering the financial situation at the club at the time.

It's hardly the kind of thing you'd expect from a someone who professes to be a "Rangers man".

Link to post
Share on other sites

This was announced in one of the papers months ago.

He met a certain criteria which allowed him to invoke a clause in his deal.

He was hardly going to stick an extra 100 odd thousand onto his salary without anybody noticing. doh

Link ? Would be interesting to see what the actual clause was.

He could have waived it though cosiering the financial situation at the club at the time.

It's hardly the kind of thing you'd expect from a someone who professes to be a "Rangers man".

True but if that was your career wouldn't you do the same? I hate Bain, he was a prick, but I think if the above is true that he met some criteria that was inserted in his contract for his wage to be increased then I cant really blame him for that. Blame whoever created that employment contract!

Link to post
Share on other sites

Link ? Would be interesting to see what the actual clause was.

True but if that was your career wouldn't you do the same? I hate Bain, he was a prick, but I think if the above is true that he met some criteria that was inserted in his contract for his wage to be increased then I cant really blame him for that. Blame whoever created that employment contract!

I am.........................Martin Bain. (tu)

Link to post
Share on other sites

He could have waived it though considering the financial situation at the club at the time.

It's hardly the kind of thing you'd expect from a someone who professes to be a "Rangers man".

Whatever the rights and wrongs, the club was making a big profit at the time.

Weir, McCulloch, Davis, Lafferty and the whole management team will be happy enough to work for two grand a week then. They can't need much more than that to get by.

Happy days.

Link to post
Share on other sites

Whatever the rights and wrongs, the club was making a big profit at the time.

Weir, McCulloch, Davis, Lafferty and the whole management team will be happy enough to work for two grand a week then. They can't need much more than that to get by.

Happy days.

Weir, McCulloch, Davis, Lafferty and the whole management team don't write their own contracts. :sherlock:

Link to post
Share on other sites

Weir, McCulloch, Davis, Lafferty and the whole management team don't write their own contracts. :sherlock:

I know, but being 'Rangers men' surely they will be wanting to help the club out financially? I bet they also waived any bonuses they got last season. Bain is a waste of space but if he is entitled to a bonus, that's the way it is.

Link to post
Share on other sites

I know, but being 'Rangers men' surely they will be wanting to help the club out financially? I bet they also waived any bonuses they got last season. Bain is a waste of space but if he is entitled to a bonus, that's the way it is.

I'm sure none of the current squad were offered improved deals throughout the past couple of seasons due to the financial restrictions mate.

If so, the same rule shoulda been applied tae Bain & Co.

Link to post
Share on other sites

I'm sure none of the current squad were offered improved deals throughout the past couple of seasons due to the financial restrictions mate.

If so, the same rule shoulda been applied tae Bain & Co.

Agreed, but we don't know what the terms of Bain's contract were or when they were made. I'm just thankful that he's gone.

Link to post
Share on other sites

AXED Rangers chief executive Martin Bain is being probed by the club over an alleged £130,000 pay rise, The Scottish Sun can reveal.

It's claimed the wage hike for Bain - putting him on £633,000 a year - had NOT been officially approved by the board.

New owner Craig Whyte suspended Bain after buying the Ibrox club last month.

It's understood that Bain's annual salary was increased at a time when Rangers were toiling under a mountain of debt and had to slash the budget.

And it's thought the length of the 44-year-old's contract was under question. Yesterday Bain called in lawyers over his job axe.

His time at Ibrox was over after he and four other Gers chiefs released a bombshell statement voicing fears about Whyte's ownership of the club.

They hit out just an hour after the tycoon bought Gers from Sir David Murray in a £33million deal.

Bain at war with new Rangers owner Whyte

Read more: http://www.thescottishsun.co.uk/scotsol/homepage/news/3649562/Gers-probe-Bains-130k-pay-hike.html#ixzz1PrXgTEJM

Football journalism at its best.

Bain is not on a salary of £633k. It astounds me that a Newspaper, who must have access to people who can read a set of accounts, continue to get this shite wrong.

The £633k he earned last year was made up of SALARY, BONUS and PENSION CONTRIBUTIONS.

As for giving himself the rise, im thinking thats 99% shite as well. (tu)

Link to post
Share on other sites

Football journalism at its best.

Bain is not on a salary of £633k. It astounds me that a Newspaper, who must have access to people who can read a set of accounts, continue to get this shite wrong.

The £633k he earned last year was made up of SALARY, BONUS and PENSION CONTRIBUTIONS.

As for giving himself the rise, im thinking thats 99% shite as well. (tu)

The Sun have deliberately sensationalised the story and as you can see from the posts, these lies are largely believed. The hypocrisy is fucking astounding.

Link to post
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Upcoming Events

    • 20 August 2022 11:30 Until 13:30
      0  
      Hibernian v Rangers
      Easter Road
      Scottish Premiership
      Live on Sky Sports Football

×
×
  • Create New...