Second Statement

[Blue72 1,169]

There's a few things clear in this saga:

- the board have acted without class by issuing public statements like this when they should have simply stated 'the club and the management team have mutually agreed to part ways.'  I find it embarrassing that a board of directors would discuss what are essentially HR issues publicly.

- Warburton, weir and mcparland have clearly been dealt with the right way by the club and, pending some court challenge, this outcome is the best for the club and financially makes sense

- clearly much of this is a personal response from the board and not a response to protect the interests of rangers fc

- whether the investment of £18 million stacks up or not loans from directors are an investment, the idea that the board of directors who are businessmen first would put that level of funding into thr club without expecting or at least having the opportunity to recoup that money is daft

- player salaries have to be included in investment.  Most football clubs accounting practice is to cost player fees and wages over the duration of the contract e.g. £3m fee + 10,000 a week for a 3 year contract would be recorded as £1,520,000 in current financial year with £3,040,000 in future cost (likely broken down as next year liabilities and medium term (2 years+ liabilities).  The idea that a board of directors would not include salary costs of playing staff in their investment figure is fairly ludicrous. 

[Blue Avenger 22,567]

4 minutes ago, Docspawn said:

Can't believe the stick King gets from some of guys on here. I love my team and stick by them but if I was King I'd be thinking I don't need this shit and then where would we be ???? I'm happy yes happy King is behind us and now get a new manager and move on.  Getting really f..ked off with being the laughing stock of Scottish football for last 4years. Listening to BBC today they were glorying in the news whilst bumping up the Tims as best team ever played in Scotland .

 

There is NO moving on with mr mendacious at the helm and there never will be.

A convicted felon he is and a convicted felon he will remain.

[Bears r us 30,998]

9 minutes ago, Inigo said:

It says terminated immediately but only 'after discussion' by the Board and their accepting it, which could have taken a few days.

I'd read 'immediately' as not being literal. It means the process of termination is immediately put into motion. Paperwork. Which is probably the case in most terminations, it's just that it doesn't matter on most occasions and we don't question it.

I have just replied  to Drumloyal with this:

 Look mate we are all in a state of confusion and I certainly do not understand what has all gone on, but I always try and apply common sense to things and that is probably a big mistakes on my part as far as our Club goes.

I just do not understand why the board would accept the termination and not make sure MW & DW were away as soon as possible considering we have such an important game tomorrow, but for my sanity I will have to drop this bone I have been chewing since the last DK statement.

I should add I am happy that MW is away as far as football reasons are concerned, but annoyed we can never do anything in a normal fashion. 

[Jimfanciesthedude 24,957]

3 minutes ago, mitre_mouldmaster said:

Thats not quite right.

He said it would take £30m-£50m over the next few years to get us back to the top.

He also said that he would be willing to put up to £30m of his own money in IIRC, but would much rather that the burden was shared between himself and other investors with him putting 50% and them putting the other 50%.

That is my recollection anyway. Feel free to prove me wrong and show where he stated he was putting in £30m though.

EDIT : DOH! Right above.

do i need to reply now

[Theulstervolunteer 1,859]

1 hour ago, Dlydon81 said:

F£&K ME!

First part is complete BS and DK thinks we're all idiots by putting that out there.

Second part, as much as probably true, confirms to me that no formal resignation has been received and we are going to end up paying MW and Co the full compensation for breach of contract.

DK is a complete Moron and we are a F£&King laughing stock!

 

 

Yer talking oot yer arse

[TrueBluez1972 2]

55 minutes ago, Tommy WATP said:

I'll ask it in here, what's the 18m of investment received into the club? If plan was to get 2nd place why advertise going for 55? Fans bought into this in huge numbers and Club 1872 should be asking these questions. 

I'll just put this out there but I bet that there is some semblance of truth to the £18m figure apparently "invested" since DK came in. When you consider player buys, contracts being amortised – including the manager etc, short term soft loans (that are paid back) and the fact that we have been running at a substantial loss since DK came in which have been paid on a  cash for equity basis. DK just doesn’t say exactly who has "invested" or what “investment” means….

Corollary to others I think the first part of the statement was ok (but clearly bullshit but expected corporate bullshit) and intended to create calm in DK as chairman. But the second part was airing our dirty laundry in public and is embarrassing. It might keep us supports in the loop but sometimes those in the PR, Traynor and Graham, would do well to keep their stupid gobs shut and maintain a dignified silence. Said it before about Traynor but yesterdays statement was almost certainly written by Graham so and I’ll include him in this but what the fuck are they getting paid? They are out of their depth.

[chris182 6,366]

5 minutes ago, Jimbeamjunior said:

except warburton denied it last night, pretty fucking stupid denying your resignation if the board can simply whip out your letter

Sure. Potentially some confusion over the Agent's resignation deferral request?

The Agent may be the one who's bollocks-ed this all up.

[eskbankloyal 19,446]

33 minutes ago, Jimbeamjunior said:

where did we spend 3mill this summer?

Both numbers taken from the accounts. 

[mitre_mouldmaster 21,509]

Just now, Jimbeamjunior said:

do i need to reply now

To be fair, I could have edited my response before anyone seen it and avoid the riddy.

Ill take it like a man though. Probably like a man in Bar-L who dropped a bar of soap knowing you pricks though!

[Trooblue 1,983]

Two questions:

 

If King is such a shit hot businessman, how come he was prepared to waive the club's right to compensation running into several hundred thousand pounds?

 

If it is true that Warburton and Weir resigned in the early part of the week, and these resignations were accepted 'with immediate effect', how come Warburton was taking the Friday press conference?

 

 

[Jimfanciesthedude 24,957]

6 minutes ago, sassaaaa said:

Said it earlier , the board should put it up on the website , end of drama..........

but they havent and if you think about it, kings statement is almost like them trying to deploy the flares and other counter measures to redirect the big fucking missile heading our way

if our stance was minifoolproof then his second statement could read "we have marks letter of resignation handed in by his agent, we acted on it, he's not here anymore"

instead we got a full repitoire of king bluster and bullshit as if to deflect from something, which now makes you think we cunted it somewhere

[Inigo 32,675]

7 minutes ago, Turnberry18 said:

The till the end of the season part is the only thing that looks to hold all of this together. Why else would they have even had a thought of reconsidering?

Yeah. They've seen they've fucked it, and gone back to the Board hoping that the Board would see it as a better option to keep MW and search for a replacement for the summer. But sadly for bumbling agent, the Board preferred to get rid now.

Seems to be what's being said to me.

[Blue72 1,169]

3 minutes ago, CRARFC said:

Thank fuck some gets the concept 

I know of no other business that would look to develop an area of their business and not include additional staffing costs in the investment total for delivery, I'm not sure where people have got the idea that investment in playing staff means transfer fees only when other costs (salary, NI, pension plan, private benefits, travel costs, other increased overheads) are significant and, if not considered, would lead us into being financially unsustainable

[Tenerife Bear 1,748]

4 minutes ago, Blue72 said:

There's a few things clear in this saga:

- the board have acted without class by issuing public statements like this when they should have simply stated 'the club and the management team have mutually agreed to part ways.'  I find it embarrassing that a board of directors would discuss what are essentially HR issues publicly.

- Warburton, weir and mcparland have clearly been dealt with the right way by the club and, pending some court challenge, this outcome is the best for the club and financially makes sense

- clearly much of this is a personal response from the board and not a response to protect the interests of rangers fc

- whether the investment of £18 million stacks up or not loans from directors are an investment, the idea that the board of directors who are businessmen first would put that level of funding into thr club without expecting or at least having the opportunity to recoup that money is daft

- player salaries have to be included in investment.  Most football clubs accounting practice is to cost player fees and wages over the duration of the contract e.g. £3m fee + 10,000 a week for a 3 year contract would be recorded as £1,520,000 in current financial year with £3,040,000 in future cost (likely broken down as next year liabilities and medium term (2 years+ liabilities).  The idea that a board of directors would not include salary costs of playing staff in their investment figure is fairly ludicrous. 

Absolute nonsense. Never heard so much shite in all my life. Sounds like something David Murray would say to claim he spent more than he really did. 

[Easton82 44]

7 minutes ago, Lance1697 said:

I'd like to see us buying players of the Dodoo/Rossiter mould, young boys who are on the cusp of their respective teams and who want to play

Can sell them on in the future

This buying older English lower league rejects has to stop, Waghorn etc aren't fit for the team 

Think we need to be looking abroad for players to be honest. He's just wasted a lot of money and has tried to use us as a stepping stone to the english premiership with all the shite he talks in his interviews. He's a sad deluded man and obviously thinks very highly of himself it's a shame no one else apart fae his puppet Weir has the same opinion! It's obvious to see his signings were pish his tactics were pish and that showed with the results against all the teams around us! 

[Jimfanciesthedude 24,957]

2 minutes ago, mitre_mouldmaster said:

To be fair, I could have edited my response before anyone seen it and avoid the riddy.

Ill take it like a man though. Probably like a man in Bar-L who dropped a bar of soap knowing you pricks though!

i'll be gentle, ya tit

anyway kings 30mill over 5 years, thats us had 2 and he's put up around 4mill, new gaffer gonna have a warchest this summer

[sassaaaa 11,406]

Just now, Jimbeamjunior said:

but they havent and if you think about it, kings statement is almost like them trying to deploy the flares and other counter measures to redirect the big fucking missile heading our way

if our stance was minifoolproof then his second statement could read "we have marks letter of resignation handed in by his agent, we acted on it, he's not here anymore"

instead we got a full repitoire of king bluster and bullshit as if to deflect from something, which now makes you think we cunted it somewhere

His first few paragraphs were the usual lies and bullshit we expect from him but surely even he isn't stupid enough to put out two public statements without proof.

[Coop 654]

10 minutes ago, Big Al II said:

I've no idea. Investing in playing staff doesn't only mean transfer fees.

But that's all teams count.  When the EPL announces how much was spent in total during a transfer window, they don't include wages, travelling expenses and McDonalds vouchers.

[Blue72 1,169]

1 minute ago, Trooblue said:

Two questions:

 

If King is such a shit hot businessman, how come he was prepared to waive the club's right to compensation running into several hundred thousand pounds?

 

If it is true that Warburton and Weir resigned in the early part of the week, and these resignations were accepted 'with immediate effect', how come Warburton was taking the Friday press conference?

 

 

My reading of it was that if we wanted to dismiss them we'd have to pay them compensation so if they refused to resign they would be due A payout.

given the state at Forrest they may not wish to pay compensation so if we refused to allow them to join without compensation they may have not gone to Forrest and we'd be left having to dismiss them and accruing mor costs. 

Worked out to our advantage in the end, pending legal challenges etc 

[Jimfanciesthedude 24,957]

1 minute ago, sassaaaa said:

His first few paragraphs were the usual lies and bullshit we expect from him but surely even he isn't stupid enough to put out two public statements without proof.

he couldnt even provide proof of funds a number of times when it came to us

plus he's in SA. he can bluster all he wants while poor stewart robertson takes the day to day flak

[Albertz 78 918]

35 minutes ago, Blue Avenger said:

This board are throwing away money on non value adding incompetent Directors and a football squad of over paid under performing excuses for players.

We have loans as a sinister financial model.

This board preside over all this. 4-3-3 is the fucking least of our worries.

As statements go, it's obvious King went to the wrong fucking school.

King is a liar and convicted felon in trying to rob SARS of their dues, but just you batter on. All is well under this total fanny.

The board does actually have to pay wages for the CEO and MD as shocking as that might be to people on here.  

As for players FFS one minute it's King GTF for not backing the manager the next it's King GTF for spending too much on pish players wages?  If Dave King and the board had actually signed the under performing players you speak of you might have a point but they never.

The loans are basically debt for equity once the rights issue takes place Rangers debt will be zero like hundreds of of directors/investors of other clubs have done over the years.

Expecting people to put money in while taking nothing out is ridiculous, bit like you buying a season ticket and the club saying you can't go to games but we'll keep the money anyway.

 

 

[Coop 654]

1 minute ago, sassaaaa said:

His first few paragraphs were the usual lies and bullshit we expect from him but surely even he isn't stupid enough to put out two public statements without proof.

The prosecution and judge in South Africa have evidence that he does just that.

[Dlydon81 245]

55 minutes ago, chris182 said:

It clearly says the Agent offered their resignation!

Said offer may have been written, it doesn't say.

You are ignoring the part that says "without compensation as long as the Club, in turn, agreed to waive compensation from any new Club that they signed for."

That's is a negotiation not a definitive resignation and would likely require Some document signing. The fact that warburton was at work and representing rangers clearly as manager suggests it was never concluded 'immediately' as DK claims.

[Young Bob 1,360]

13 minutes ago, JCDBigBear said:

I don't know for certain of course but neither do you.  I simply gave my take on the matter based on experience.

  What is the relevance of how many bits of wood??

 

You are not the public face of an institution. You work for a company who could easily replace you if you resigned. There are no doubt a lot more critical positions in companies that you could work for and if the people who held these positions resigned their notice period would not be enforced.

The Rangers board should have shown Warburton the door as soon as his rep tried to get him out with no compensation.

My mate does a critical job for the company I work for. He resigned in the morning , met his boss and HR in the afternoon but nothing was keeping him so they told him to clear his desk and leave immediately.

 

[stevemartin1991 262]

20 minutes ago, Blue Avenger said:

This board are throwing away money on non value adding incompetent Directors and a football squad of over paid under performing excuses for players.

We have loans as a sinister financial model.

This board preside over all this. 4-3-3 is the fucking least of our worries.

As statements go, it's obvious King went to the wrong fucking school.

King is a liar and convicted felon in trying to rob SARS of their dues, but just you batter on. All is well under this total fanny.

 Never said all is well, far from it infact. 

Just to confirm, you are blaming the board for the squad under achieving? Absolute belter.