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Glenn Gibbons: Rangers drift into dangerous waters

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Stockbridge reportedly said Rangers would be down to their last 1 million pounds by April. Picture: SNS

Published on the 19 October

2013

00:00

The recent departures of Ian Hart, Bryan Smart and Craig Mather from the Ibrox boardroom have given Rangers the appearance of a present-day Mary Celeste, drifting aimlessly without a crew, apart from a couple of deckhands on the bridge.

Rather than alarm, however, these events seem to have triggered among the club’s supporters a groundswell of hope that the listing old vessel will now fall into the hands of salvage experts.

There appears to be no shortage of willing saviours (at least, of the type who will do anything to effect a rescue as long as it does not involve offering financial aid), but in the past two years the place has been infested with would-be idols who proved to have feet of clay; there have been enough, surely, to warrant a circumspect, rather than celebratory reception to the next one (or group) to climb aboard.

With only finance director Brian Stockbridge and non-exec James Easdale occupying seats, Rangers no longer have a properly-constituted board, and co-options are needed in a hurry. That prospective haste, with its built-in risk of unsuitable or inappropriate appointments, could, in itself, be a reason for apprehension among the laity.

The latter, after all, have had to endure a stream of so-called “directors” who have exhibited a breathtaking ignorance of stock market regulations. In certain instances, of course, breaches of the rules have been less attributable to naivety than to an outrageous readiness to drive a horse and cart through them.

In the past fortnight alone, there have been enough violations of confidentiality laws to prompt an investigation by Stock Exchange commissioners. There have been rumours that such a probe is in the offing and, while they remain simply gossip, they are hardly surprising.

However fiercely supporters (or even shareholders) may clamour for transparency and clarity, it is not achievable if the information involved is likely to impact on the share price.

Just last week, it was reported that the man in charge of the kitty, Stockbridge, had told a fans’ group that Rangers would be down to their last £1 million by April. As market-sensitive revelations go, this one could have sent the stock through the floor.

That stick of dynamite was soon followed by the well-publicised tale of Mather’s trip to South Africa for talks with Dave King with a view to installing the Glasgow-born entrepreneur as the club’s next chairman. The least surprising aspect of this story was its consequence, an official retraction on Rangers’ website, ordered by the company’s nominated adviser (NOMAD), Daniel Stewart.

The most ludicrous – indeed, scandalous – point of the indiscretions, and a series of others throughout the short history of The Rangers International Football Club plc is that no director, from the chairman and chief executive down, appears to have been aware of their illegitimacy, or had the power – or the authority – to prevent them.

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Is it just me or does this writer seem to want a stock market intervention.

It's just you, SoS and others will welcome SE intervention to advance their tawdry agenda, bad day when it takes a taig journo to point out the obvious...."at least, of the type who will do anything to effect a rescue as long as it does not involve offering financial aid".

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It's just you, SoS and others will welcome SE intervention to advance their tawdry agenda, bad day when it takes a taig journo to point out the obvious...."at least, of the type who will do anything to effect a rescue as long as it does not involve offering financial aid".

First time i've ever agreed with you. I don't know how many times that guy Craig from SOS has been told this. He still shouts and balls like a fucking clown about sacking the board though.

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Glenn Gibbons: Rangers drift into dangerous waters

2670476756.jpg

Jesus Christ, if Glenn Gibbons is now being touted by 'boardco' then it's surely time for them to go. An absolute pile of pish for all to see. That Bawsbags will be pushing this next!

Stockbridge reportedly said Rangers would be down to their last 1 million pounds by April. Picture: SNS

Published on the 19 October

2013

00:00

The recent departures of Ian Hart, Bryan Smart and Craig Mather from the Ibrox boardroom have given Rangers the appearance of a present-day Mary Celeste, drifting aimlessly without a crew, apart from a couple of deckhands on the bridge.

Rather than alarm, however, these events seem to have triggered among the club’s supporters a groundswell of hope that the listing old vessel will now fall into the hands of salvage experts.

There appears to be no shortage of willing saviours (at least, of the type who will do anything to effect a rescue as long as it does not involve offering financial aid), but in the past two years the place has been infested with would-be idols who proved to have feet of clay; there have been enough, surely, to warrant a circumspect, rather than celebratory reception to the next one (or group) to climb aboard.

With only finance director Brian Stockbridge and non-exec James Easdale occupying seats, Rangers no longer have a properly-constituted board, and co-options are needed in a hurry. That prospective haste, with its built-in risk of unsuitable or inappropriate appointments, could, in itself, be a reason for apprehension among the laity.

The latter, after all, have had to endure a stream of so-called “directors” who have exhibited a breathtaking ignorance of stock market regulations. In certain instances, of course, breaches of the rules have been less attributable to naivety than to an outrageous readiness to drive a horse and cart through them.

In the past fortnight alone, there have been enough violations of confidentiality laws to prompt an investigation by Stock Exchange commissioners. There have been rumours that such a probe is in the offing and, while they remain simply gossip, they are hardly surprising.

However fiercely supporters (or even shareholders) may clamour for transparency and clarity, it is not achievable if the information involved is likely to impact on the share price.

Just last week, it was reported that the man in charge of the kitty, Stockbridge, had told a fans’ group that Rangers would be down to their last £1 million by April. As market-sensitive revelations go, this one could have sent the stock through the floor.

That stick of dynamite was soon followed by the well-publicised tale of Mather’s trip to South Africa for talks with Dave King with a view to installing the Glasgow-born entrepreneur as the club’s next chairman. The least surprising aspect of this story was its consequence, an official retraction on Rangers’ website, ordered by the company’s nominated adviser (NOMAD), Daniel Stewart.

The most ludicrous – indeed, scandalous – point of the indiscretions, and a series of others throughout the short history of The Rangers International Football Club plc is that no director, from the chairman and chief executive down, appears to have been aware of their illegitimacy, or had the power – or the authority – to prevent them.

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SOS and there followers don't have a clue what they are wishing for here. If they force the other 2 out or even just Stockbridge then we can get suspended from LSE.

These clowns don't get it. They have been told a thousand times and still they don't understand why.

And people want fan ownership? No chance if we had a fan owned boardroom it wouldn't be any better than the board that have left. This board don't seem to know the rules of the LSE either and neither do SOS.

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SOS and there followers don't have a clue what they are wishing for here. If they force the other 2 out or even just Stockbridge then we can get suspended from LSE.

These clowns don't get it. They have been told a thousand times and still they don't understand why.

And people want fan ownership? No chance if we had a fan owned boardroom it wouldn't be any better than the board that have left. This board don't seem to know the rules of the LSE either and neither do SOS.

Agree with lots of the points made about SOS using bhitter pricks like Gibbons to bash fellow bears is a joke

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