fyfe 19 Posted May 13, 2012 Share Posted May 13, 2012 From the Scotsman:SWTS.sport.image.eRangers takeover: Powerbrokers left with nowhere to hide by damning reportBy TOM PETERKINPublished on Sunday 13 May 2012 02:43ON Friday the Scottish Football Association published the written judgment from its Judicial Panel Disciplinary Tribunal Hearing into Rangers and Craig Whyte.The panel, which handed Rangers a 12-month transfer embargo, judged the club’s rule breaches second only to match-fixing in their severity and considered banishing the club from Scottish football. Here are other selected findings:Sir David MurraySIR David Murray sold Rangers to Craig Whyte at a time when his company Murray International Holdings was under “serious pressure” from their bankers HBoS (later became Lloyds) to reduce their £700million debt mountain. The sale of the football club paid off just £18m of that debt – only 2.5 per cent of the total they were in the red.The Scottish Football Association’s report into the financial position of Rangers concluded that Murray was well aware of Whyte’s business failings when he made the sale.Craig WhyteA private investigation was commissioned by Rangers’ Independent Board Committee (IBC), which found that Craig Whyte was involved with numerous companies which were soon to be wound up owing thousands in unpaid taxes.Rangers’ chief operating officer Martin Bain showed Murray the results of the investigation, the Rangers owner said he had little option other than to sell. Murray urged Bain to convince the board to back the sale.The SFA report said Bain was initially apprehensive about raising his concerns about Whyte with Murray because he was worried about possible repercussions.According to the report, Bain “took the view that once he had crossed the line there would be no way back”.Bain met Murray in March last year and voiced his concerns that the Murray Group and the businessman himself had “lacked due diligence” when looking at Whyte.But Murray said that pressure from the bank left him “almost no option” and asked Bain to get the approval of the IBC and the full board. According to the report, Bain refused to do so and the discussion of the subject with Murray “damaged” their relationship. The report suggests Bain was one of the few executive board members acting purely in the interests of the club. He gets slated for taking a massive salary but i'm not sure his salary was that much above the market standard, and he actually took a £200,000 salary cut in 2009 according to the Sunday Times. I can't find the link to that story but there's a bit in an old bbc gossip section about it here; http://news.bbc.co.uk/sport1/hi/football/scot_prem/8410490.stmHe was also instrumental in bringing Jelavic to the club. So was he really the worst Chief Executive we could have had? I'm starting to think there's been some heavy friendly fire in the past year or so. Quote Link to post Share on other sites More sharing options...
Shane 338 Posted May 13, 2012 Share Posted May 13, 2012 Still a cunt, and totally unaware there were supporters outside Govan for years. Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted May 13, 2012 Share Posted May 13, 2012 NO...........................also he was not instrumental in bringing Jelavic..........cast your mind back it was Walter telling him to get back out there and get the deal done. Also did Bain not receive a sum in the region of 400k from murray after he left Rangers...bain that is? Quote Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted May 13, 2012 Share Posted May 13, 2012 Giving himself a payrise whilst Watty and Ally worked for free has been conveniently missed out. Quote Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted May 13, 2012 Share Posted May 13, 2012 NO...........................also he was not instrumental in bringing Jelavic..........cast your mind back it was Walter telling him to get back out there and get the deal done. Also did Bain not receive a sum in the region of 400k from murray after he left Rangers...bain that is?Bain brokered deals for players leaving Rangers that ended up costing us money. On more than one occasion I believe. Quote Link to post Share on other sites More sharing options...
markem 7,296 Posted May 13, 2012 Share Posted May 13, 2012 Culpable in not defending our club as it was attacked time and time again. For that he should never be forgiven. He is not alone on that charge right enough. Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted May 13, 2012 Share Posted May 13, 2012 Bain brokered deals for players leaving Rangers that ended up costing us money. On more than one occasion I believe. he was/is a fud.................slithered his way into the job. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted May 13, 2012 Share Posted May 13, 2012 Bain was a joke as chief executive. Promoted way above his abilities. Quote Link to post Share on other sites More sharing options...
MasterD 7,442 Posted May 13, 2012 Share Posted May 13, 2012 Giving himself a payrise whilst Watty and Ally worked for free has been conveniently missed out.Or missed out because it isn't true?When did they work for free while Bain was here? Quote Link to post Share on other sites More sharing options...
tango 341 Posted May 13, 2012 Share Posted May 13, 2012 Arrogant cunt Quote Link to post Share on other sites More sharing options...
El Carpintero 546 Posted May 13, 2012 Share Posted May 13, 2012 No, he was completely shite at his job. Should have stayed Murrays personal chef. CEO of the Rangers A wanker of a man too. Quote Link to post Share on other sites More sharing options...
Shane 338 Posted May 13, 2012 Share Posted May 13, 2012 Or missed out because it isn't true?When did they work for free while Bain was here?How soon we forget...*Just the entire back half of #53, for the sake of posterity. Quote Link to post Share on other sites More sharing options...
Yata 161 Posted May 13, 2012 Share Posted May 13, 2012 is it just me or have Loyds got off easy here with regards to blame Quote Link to post Share on other sites More sharing options...
Shane 338 Posted May 13, 2012 Share Posted May 13, 2012 is it just me or have Loyds got off easy here with regards to blameLloyds did what was best for their business. They're not a footballing charity. Quote Link to post Share on other sites More sharing options...
fyfe 19 Posted May 13, 2012 Author Share Posted May 13, 2012 Alright, thanks for clearing that up everyone I think he deserves some credit for being the only one to go against Murray and try to dissuade him for bringing Whyte to the club, but in terms of day-to-day involvement in the club I suppose I can't really say much for him. Quote Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted May 13, 2012 Share Posted May 13, 2012 How soon we forget...*Just the entire back half of #53, for the sake of posterity.Unbelievable isn't it.It was only Walter who confirmed he was working for nothing. But hey, whats Walters word compared to Bains eh. Quote Link to post Share on other sites More sharing options...
ray 105 Posted May 13, 2012 Share Posted May 13, 2012 From the Scotsman:SWTS.sport.image.eRangers takeover: Powerbrokers left with nowhere to hide by damning reportBy TOM PETERKINPublished on Sunday 13 May 2012 02:43ON Friday the Scottish Football Association published the written judgment from its Judicial Panel Disciplinary Tribunal Hearing into Rangers and Craig Whyte.The panel, which handed Rangers a 12-month transfer embargo, judged the club’s rule breaches second only to match-fixing in their severity and considered banishing the club from Scottish football. Here are other selected findings:Sir David MurraySIR David Murray sold Rangers to Craig Whyte at a time when his company Murray International Holdings was under “serious pressure” from their bankers HBoS (later became Lloyds) to reduce their £700million debt mountain. The sale of the football club paid off just £18m of that debt – only 2.5 per cent of the total they were in the red.The Scottish Football Association’s report into the financial position of Rangers concluded that Murray was well aware of Whyte’s business failings when he made the sale.Craig WhyteA private investigation was commissioned by Rangers’ Independent Board Committee (IBC), which found that Craig Whyte was involved with numerous companies which were soon to be wound up owing thousands in unpaid taxes.Rangers’ chief operating officer Martin Bain showed Murray the results of the investigation, the Rangers owner said he had little option other than to sell. Murray urged Bain to convince the board to back the sale.The SFA report said Bain was initially apprehensive about raising his concerns about Whyte with Murray because he was worried about possible repercussions.According to the report, Bain “took the view that once he had crossed the line there would be no way back”.Bain met Murray in March last year and voiced his concerns that the Murray Group and the businessman himself had “lacked due diligence” when looking at Whyte.But Murray said that pressure from the bank left him “almost no option” and asked Bain to get the approval of the IBC and the full board. According to the report, Bain refused to do so and the discussion of the subject with Murray “damaged” their relationship. The report suggests Bain was one of the few executive board members acting purely in the interests of the club. He gets slated for taking a massive salary but i'm not sure his salary was that much above the market standard, and he actually took a £200,000 salary cut in 2009 according to the Sunday Times. I can't find the link to that story but there's a bit in an old bbc gossip section about it here; http://news.bbc.co.uk/sport1/hi/football/scot_prem/8410490.stmHe was also instrumental in bringing Jelavic to the club. So was he really the worst Chief Executive we could have had? I'm starting to think there's been some heavy friendly fire in the past year or so.Ringfencing cash ? he knew what was going on bawbag of the highest order. Quote Link to post Share on other sites More sharing options...
Shane 338 Posted May 13, 2012 Share Posted May 13, 2012 Unbelievable isn't it.It was only Walter who confirmed he was working for nothing. But hey, whats Walters word compared to Bains eh.Wonder what the benefits package covered of Bain's tanning bed expenses... Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted May 13, 2012 Share Posted May 13, 2012 Is this the same Bain that took us to court and had assets frozen ? Quote Link to post Share on other sites More sharing options...
Mark. 69 Posted May 13, 2012 Share Posted May 13, 2012 So, to sum up: No, he's a cunt. Quote Link to post Share on other sites More sharing options...
Edmiston Drive 3,846 Posted May 13, 2012 Share Posted May 13, 2012 Bain was a joke as chief executive. Promoted way above his abilities.But he had that tunnel video Quote Link to post Share on other sites More sharing options...
Shane 338 Posted May 13, 2012 Share Posted May 13, 2012 Is this the same Bain that took us to court and had assets frozen ?Believe that's the one, yeah. Also of the mind it's the same one who let the scum lap us a dozen times over in international market share when that was his entire job for half a decade. Quote Link to post Share on other sites More sharing options...
nachothelegend 1,932 Posted May 13, 2012 Share Posted May 13, 2012 Culpable in not defending our club as it was attacked time and time again. For that he should never be forgiven. He is not alone on that charge right enough.The FARE debacle too he let us down on so many occasions and threw us all to the Wolves. Quote Link to post Share on other sites More sharing options...
ger50champ 300 Posted May 13, 2012 Share Posted May 13, 2012 Culpable in not defending our club as it was attacked time and time again. For that he should never be forgiven. He is not alone on that charge right enough.Spot on mate .Never darken our doors again Martin Bain Quote Link to post Share on other sites More sharing options...
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