Jump to content

Dingwall Speaks!


54andcounting
 Share

Recommended Posts

Interview: Mark Dingwall, head of Rangers Supporters Trust

Waiting game: Mark Dingwall says fans are starting to lose patience with Rangers administrators Duff & Phelps. Picture: Robert Perry

By MOIRA GORDON

Published on Sunday 15 April 2012 00:59 Scotsman.

IN A play which seems to have the potential to run as long as The Mousetrap, this week it was again all the sub plots which threatened to overwhelm in the story of Rangers FC.

The administrators in charge of directing each act in this convoluted offering had been expected to announce which of the three potential buyers has been given star billing. But turning the drama into a farce, the SPL played up to its role as villain of the piece, making public the possible alterations to the current punishments imposed on clubs who dally with insolvency and who fail to live up to their fiscal responsibilities.

It meant the preferred bidder announcement was delayed, the administrator Duff & Phelps insisting it was prudent to see if the announcement had any impact on the bids lodged by the Blue Knights, the Far East consortium headed by Bill Ng or the offer made by American businessman Bill Miller. It was one stutter too many for the disgruntled Rangers supporters, with a spokesman for one of the main fans’ organisations, claiming fans were fast losing patience with the men charged with the responsibility of moving forward the process of identifying new owners and stabilising the Old Firm club.

While the game’s governing bodies have not escaped the wrath, with conspiracy theories, accusations of sly tactics and self-serving agendas all feeding the internet messageboards and phone-ins, there are others now bearing the brunt of some furious finger-pointing and attracting a dwindling level of trust.

“There’s definitely been a mood swing concerning Duff & Phelps and their recent behaviour,” said Mark Dingwall, board member of Rangers Supporters Trust. “We feel it has become more and more curious in terms of the time it is taking to make the important decisions. At each step of this there has been delay after delay, from the way they handled the players’ wage cuts, the handling of bids and the things they are saying about Craig Whyte.

“I have been to several meetings with the administrators and they assured us that Craig Whyte would be no impediment to doing a deal but then we see things this week saying that he will have a say in who gets his shares. I think people are beginning to question the administrators. Why haven’t they taken the legal steps needed to make sure he can’t do the club any more damage?

“The due diligence has taken too long and in terms of the creditors meeting and everything that has to happen before we can get out of administration, it’s hard to see that happening before the end of the season and then the fans wonder what will happen with the players who are out of contract in June. It is vital that things are moved on because we won’t be able to hold on to our best players and we will have to rebuild completely.”

Dingwall says the fans have made it very clear that they are opposed to liquidation, with the banners and the red-card protests at Ibrox last week making those charged with the future stewardship of the club aware that the stance is unequivocal. But with that in mind, Dingwall wants to know why the administrators have not pressed on with appointing the preferred bidder.

He feels the obvious choice if they want to avoid trundling down that road would be the Blue Knights, the consortium viewed as the only one with the club truly at heart.

But for all the hopes, the projected timeline is becoming a real source of irritation. The fans have recovered from the original boot in the proverbials and are now simply seeking advancement. They knew it wasn’t going to be pretty, they knew it wasn’t going to be a barrel of laughs but they had hoped it would be expeditious.

Instead, it has been torture, says Dingwall. The announcement of preferred bidder was supposed to be something for them to cling to, evidence that the process had some kind of forward momentum.

“There is a lot of confusion now,” said Dingwall. “The timing of the SPL decision has angered the Rangers support. Many of us don’t believe it was coincidence that the SPL unveiled the new proposals on the day Duff and Phelps were supposed to announce the preferred bidder. We feel it was an attempt to delay or derail the process.”

But one insolvency expert insisted that the administrators had done the correct thing in stalling the announcement in light of the SPL statement, saying that, if he hadn’t given all three bidders time to reassess the impact of any proposed changes, it could have led to an even more damaging delay or dismantling of any offer further down the line.

“It is unfortunate that the SPL created further uncertainty but I’m not sure it will cause any material variation. In terms of making sure the interested parties had all the information, the administrators really had no alternative and in the grand scheme of things it will actually save time,” said Donald McNaught of Chartered Accountants Johnston Carmichael.

“But after re-evaluating the situation I wouldn’t think it would affect the interest in the club. I think the reality is that few people buying football clubs do so as a financial investment. The normal rules of business don’t apply.”

He added that, while the public perception is of a disjointed administrative period with so many legal and footballing side shows distracting from the main event, he was convinced that there would be a “more collaborative approach” behind closed doors.

Dingwall isn’t convinced and feels that, given the number of uncertainties hanging over any takeover, with Whyte’s intentions, as well as the outcome of the HMRC case and the willingness of creditors to enter into a CVA, the fans are perturbed as to why the latest SPL desire to tinker would be the unknown which brought the process of anointing a preferred bidder to a halt.

Don't disagree with what he has to say and some of it needed saying. (tu)

Link to post
Share on other sites

  • Replies 70
  • Created
  • Last Reply

Top Posters In This Topic

The blame game

I think you are right, but If it helps to move things on a bit, then I don't mind, I did like this part:

The timing of the SPL decision has angered the Rangers support. Many of us don’t believe it was coincidence that the SPL unveiled the new proposals on the day Duff and Phelps were supposed to announce the preferred bidder. We feel it was an attempt to delay or derail the process.”

As that is what I think, but now one will listen to me! :disappointment:

Link to post
Share on other sites

do not give a shit about mark dingwall but dont get away from the fact Duff & Phelps have done nothing but lie and take our money from day one ..............Duff & Phelps out now

:lol: They're the administrators for goodness sake

Link to post
Share on other sites

I think you are right, but If it helps to move things on a bit, then I don't mind, I did like this part:

The timing of the SPL decision has angered the Rangers support. Many of us don’t believe it was coincidence that the SPL unveiled the new proposals on the day Duff and Phelps were supposed to announce the preferred bidder. We feel it was an attempt to delay or derail the process.”

As that is what I think, but now one will listen to me! :disappointment:

Think patience is required. It is unquestionably one of the biggest decisions in the football club's history. Feel it's a little off to basically be saying, hurry it up lads. I'm not saying D and P are doing a sterling job, I couldn't profess to know. However, should we be talking in 6 months with new owners, a CVA in place and a responsible business model being implemented then I think I'll personally look back with great warmth to the job the administrators have done

Link to post
Share on other sites

and as administrators their best interest should be rangers fc not craig whyte... administration only suits whyte and duff and phelps it in no way helps our club

They actually are there to look out for the interest of the creditors. Sorry, I just don't see the Whyte/admin in cahoots angle

Link to post
Share on other sites

They actually are there to look out for the interest of the creditors. Sorry, I just don't see the Whyte/admin in cahoots angle

this misconception that the admins first priority is to the creditors is wrong first priority is givin to the "the company"

Link to post
Share on other sites

this misconception that the admins first priority is to the creditors is wrong first priority is givin to the "the company"

Ah well, I've learned something tonight. Still don't think they are out to get us. The quality of job they do will only become clear in time to come.

Link to post
Share on other sites

The Club Players and Supporters NEED some clarity as to what is goin on,and who the prefered bidder is,and it would b nice to hear it from the Club or admin rather tha some rhag,the whole process is startin to drag on and on.....

Link to post
Share on other sites

I agree the fans are getting fustrated, however if it's in the best interests of the club, fine. Dingwall=a man desperate to be on the new BK board.... and takes any excuse to jump into the lime light. I for one would never want this guy on our board

Link to post
Share on other sites

Of course their is doubts we have daily twitter announcements from gersnet, Frankie and many others who all keep implying it's all dodgy and asking opinion, it's fed from within and if someone preffers one bidder they go out to damage other interested parties.

Even in this thread yet they have no valid reason half the time, just it's taking to long blah blah blah

Link to post
Share on other sites

Guys please don't make this about dissing Rst and Dingwall . the post was put out for debate .Its getting boring some people having kicks at both Are we not all Rangers Family .cmon.............

Dingwal is part of the debate when he has his say on the matter.

Link to post
Share on other sites

I am at a total loss as to how anyone can come to the opinion that the administrators are doing either a great job, or are incompetent, because we are not even remotely qualified to know. But, I would say beware public statements from any prospective bidders, they all have their own agendas. TBK are clearly pushing the 'liquidation' angle, as they see that as their best route to getting the supporters on board, trying to win the PR battle, presumably because theirs is not the best offer.

Link to post
Share on other sites

he's also on the board of the assembly so all in over 50k.

Yet he he always appears to be speaking for the RST not for the Assembly. Thought Jim Hannah was the Assembly spokesman.

Nice deflection BTW --- now how many of the 50K are RST members?

Link to post
Share on other sites

Dingwall has been touting this stuff about the administrators long before this week in an attempt to pressure them into selling to the blue knights. Let's hope when they don't he shuts up for a while....

I've said from early on in this process that I feel it was a huge mistake for the RST to throw its weight behind TBK's bid given that they are supposed to be representing the support, not the narrow-visioned view of one or two of the RST's hierarchy who hope to be wearing a club tie and blazer if/when their bidder of choice gets the nod.

If Ng or Miller win the day the RST will be seen as opposed to the new leadership - a silly stance to have put itself in I feel.

They should have sat back and waited like the rest of us.

Apparently some of them ( :rolleyes: ) can't keep themselves from spouting ill-informed nonsense to anyone who'll listen.

:sherlock:

PS. One other thing - when did the RST spokesman take his accountancy exams?

He seems to be of the opinion that he knows better than the two Court-appointed guys from Duff & Phelps. :sherlock:

Link to post
Share on other sites

The administratorss have one of the most complex, most convoluted, administrations to content with. Then they have had to contend with the rule change announcements ! Oh and they are doing so under the most public scrutinity. BUT that well known financial expert Mark Dingwall feels qualified to comment on how they should be doing their job, how they should be handling it and what timings they should be working to!:anguish:

People need to realise that Administrators do not have agendas - they have jobs to do, jobs that they have to report to the court in.

There are plenty of people to take our impatience and ire out on - the administrators however are NOT and should not be a target for that ire.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Upcoming Events

    No upcoming events found

×
×
  • Create New...