Big Rangers Administration/Liquidation Thread - All chat here!

[Apache Don]

Mental. What is the difficulty with ''Keep all the terms of contract the same but just reduce the salary by 50%.''? How fkg hard can it be? Advisors? meetings? terms? agreement?

Just tippex out all the bits that say £825,000 & replace with £412,500.

[flyingrodent]

Where's oor Tedi?........

Rangers manager Ally McCoist has disclosed that the club has not yet allowed him to reduce his £825,000 annual salary, in spite of the fact that, as far back as September, he voluntarily offered to accept a 50 per cent pay cut, writes Ewing Grahame.McCoist has made it clear to the Ibrox hierarchy that he is willing to agree to that cut – with the proviso that his wages will return to normal should Rangers continue their progress to the top tier – but the current board has so far refused to accept his offer.At a time when cost-cutting measures are required, the 51-year-old has been left puzzled by the directors’ failure to welcome such a major saving and is hoping that the reason is simply a logistical problem arising from the resignation of former chief executive Craig Mathers and 
his subsequent replacement by Graham Wallace. When asked whether his terms had been reduced, McCoist replied: “Not yet. We have met on two or three occasions.“My advisor met the previous chief exec and we more or less agreed terms but, as yet, nothing has happened. I’m very hopeful that’s just down to the changeover because nothing has changed on my part. We feel it’s the right thing to do, we want to do it and wewill do it – hopefully, sooner rather than later.“I would hope that the [original] agreement we had, we could just continue with but it [the chief executive role] has been changed over.“I appreciate that might move the goalposts a wee bit – but, hopefully, not too much that it would prevent it happening.”Rangers’ financial director, Brian Stockbridge, has arranged a meeting with McCoist this week, at which the wage cut is expected to be addressed.

http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-ally-mccoist-still-waiting-for-pay-cut-1-3224697

Well, at least he's trying to reduce his salary. Ten out of ten for effort.

[flyingrodent]

A lot of "don't you wish Rangers were back in the top flight" on the radio today. I'd have to say Yes, I do wish Rangers were in the top flight, because it'd be a guaranteed 12 points and +16 goal difference.

However, the general tone of the conversations was weird. It was almost like the pundits didn't know that Rangers went bust and had to reapply to the bottom division. It sounded more like they thought it was some kind of punishment, or something.

[AberdeenBud]

Where's oor Tedi?........

 

Rangers manager Ally McCoist has disclosed that the club has not yet allowed him to reduce his £825,000 annual salary, in spite of the fact that, as far back as September, he voluntarily offered to accept a 50 per cent pay cut, writes Ewing Grahame.

McCoist has made it clear to the Ibrox hierarchy that he is willing to agree to that cut – with the proviso that his wages will return to normal should Rangers continue their progress to the top tier – but the current board has so far refused to accept his offer.

At a time when cost-cutting measures are required, the 51-year-old has been left puzzled by the directors’ failure to welcome such a major saving and is hoping that the reason is simply a logistical problem arising from the resignation of former chief executive Craig Mathers and 
his subsequent replacement by Graham Wallace. When asked whether his terms had been reduced, McCoist replied: “Not yet. We have met on two or three occasions.

“My advisor met the previous chief exec and we more or less agreed terms but, as yet, nothing has happened. I’m very hopeful that’s just down to the changeover because nothing has changed on my part. We feel it’s the right thing to do, we want to do it and wewill do it – hopefully, sooner rather than later.

“I would hope that the [original] agreement we had, we could just continue with but it [the chief executive role] has been changed over.

“I appreciate that might move the goalposts a wee bit – but, hopefully, not too much that it would prevent it happening.”

Rangers’ financial director, Brian Stockbridge, has arranged a meeting with McCoist this week, at which the wage cut is expected to be addressed.

 

http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-ally-mccoist-still-waiting-for-pay-cut-1-3224697

Well played the corpulent one.

You have to admire his chutzpah, if nothing else. How the f**k does he get away with it.

Bit of a sair een for the tedster.

[AberdeenBud]

Mental. What is the difficulty with ''Keep all the terms of contract the same but just reduce the salary by 50%.''? How fkg hard can it be? Advisors? meetings? terms? agreement?

 

Just tippex out all the bits that say £825,000 & replace with £412,500.

"more or less"

"two or three meetings"

[NotfromFifehonest]

We must conclude that Spivco can't really be that strapped for cash.......

Sept-Dec = quarter x 50% of £825k = another £100,000+ (and employer additional costs) oot the door needlessly and nobody is giving a feck!

Edited December 8, 2013 by NotfromFifehonest

[~~~]

So Sally still hasn't taken a wage cut, Murray Park is still named Murray Park, still waiting on the Adidas deal to go through, orange away kit

What else we waiting on?

[NotfromFifehonest]

So Sally still hasn't taken a wage cut, Murray Park is still named Murray Park, still waiting on the Adidas deal to go through, orange away kit

What else we waiting on?

The money spinning glamour fixtures against the Dallas Cowboys?

[~~~]

 

The money spinning glamour fixtures against the Dallas Cowboys?

Ah that's right!

Lets not forget breaking into the Chinese market, and also 500m fans subscribing to watch Sevco games ok the internet.

[NotfromFifehonest]

Ah that's right!

Lets not forget breaking into the Chinese market, and also 500m fans subscribing to watch Sevco games ok the internet.

Also, the new bar and museum in the ramshackle building they bought with the IPO money.........speaking of IPO promises............the ringfenced £10m warchest and £5.1m worth of stadium repairs/improvements. (tho they do have the wifi!!!!!!)

Edited December 8, 2013 by NotfromFifehonest

[NotfromFifehonest]

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On reflection, shouldn't the above posts be moved to the "Let's all Laugh at the Rangers" Thread

[AberdeenBud]

ON the approach to their club’s potentially eventful and certainly significant annual shareholders meeting, Rangers supporters could be forgiven for thinking that the first salvo in the battle of the boardroom – launched in midweek by those would-be invaders known as “the requisitioners” – proved to be about as deadly as a volley of paintballs.

Following a period of relatively harmless sniping, this initial full-bodied assault by the rebels took the form of what may be called a manifesto. It is a declaration of principles and promises, articulated by Alex Wilson, who, along with Paul Murray, Malcolm Murray and Scott Murdoch, is seeking election to the board and the consequent eviction of most of the directors already there.

To anyone looking for unmistakable signs of the political astuteness, oratorical potency and immovable resolve necessary to drive a successful revolution, the charter would be notable instead for its general weakness, as well as its off-putting tone; the self-styled “constitution” gives off a malodorous whiff of condescension, making predictable pledges of the type a disenchanted support would want to hear.

The impact of the document’s supposedly headline article, the quartet’s No 1 priority, is immediately reduced by being itself based on mere rumour. This is the claim by the wannabes that they will never sell Ibrox, that “we will ring-fence the asset to ensure this can never happen. This is our home and will always remain our home”.

It is a curious proclamation, not least because their worry that the current directors will unload the stadium and lease it back from the purchaser is rooted in hearsay, rather than evidence. Wilson himself admitted that his group’s anxiety has no proper foundation: “The sale of Ibrox is definitely a concern. It has bounced around as a rumour since John Brown stood on the steps outside Ibrox and said ‘show us the deeds’.”

The rebels will know, too, that, despite its scale and appearance, the stadium has surprisingly little value. With the main stand a listed building and planning permission for any potential developer an elusive target, the site has very limited appeal. If it were to be bought and then rented by the sellers, it is extremely unlikely that Rangers would ever be evicted. In the Murray manifesto, the stadium “issue” is followed by a series of ideals that includes a commitment to fan representation on the board, equal treatment of every shareholder and the rather startling vow that there will be “total transparency in all the club’s affairs”. That last item will be a first in the entire history of business and commerce.

It also betrays the Murray team’s unseemly readiness to promise anything that might attract voters to their cause. The great majority of Rangers shareholders, however, would not expect “total transparency in all the club’s affairs” because they will realise that stock-market regulations make it impossible. The rules prohibit the public revelation of business that could affect the company’s share price.

Eyebrows would probably have shot skywards, too, at the quite unambiguous assurance that “there will be no long-term debt”. In normal circumstances, this could appear to be a fanciful boast, but Wilson and his fellow travellers are obviously cognisant of the reason behind their self-certainty: it is that, following the oldco’s collapse with liabilities amounting to millions, no potential lender or creditor will henceforth allow debt of any duration, long or short.

The deep misgivings of the prospective challengers to the present regime at Ibrox – as well as those of thousands of supporters – are entirely understandable, given the financial haemorrhaging at Rangers for the past 15 months or so. But their hand-on-heart commitment to “investigating” the cause of the losses (£14 million according to the annual returns at the end of June) is mere politicking.

The Murrays, Murdoch and Wilson will know as well as anyone that the liquidation in 2012 may have eradicated Rangers’ debt, but it did not warrant the celebration that spread through the ranks of the club’s support; the price to be paid was a future of up-front, cash-on-delivery demands from all suppliers, including transactions involving the acquisition of players.

Whichever faction is in power after the annual meeting in 11 days’ time – and neither so far has been especially persuasive – that burdensome legacy will not become any easier to bear.

[~~~]

Vanguard Bears as classy as ever

[~~~]

Vanguard Bears as classy as ever

[Monkey Tennis]

Vanguard Bears as classy as ever

ImageUploadedByPie & Bovril1386474908.518985.jpg

Is Craig Whyte on that nice wee display?

I couldn't see him.

[Bookies Love Me]

Is Craig Whyte on that nice wee display?

I couldn't see him.

F*ck Craigy Bhoy.

Why's Super Salary not on it?

One of the red crosses looks as if it was done by Tedi when he was pissed (or by AWRA/BP when he wasn't).

[Stevewoods]

Still spending thousands and thousands in hotels eating 3 meals before a game against part timers.

[CityDave]

Still spending thousands and thousands in hotels eating 3 meals before a game against part timers.

I wonder if its still cash in hand or maybe this is why Fat Sal has a huge wage and he pays the bills through his own personal card.

Imagine the embarrassment of having their business card cut up in front of them as ordered by Visa, this must have happened.

[dave.j]

I wonder if its still cash in hand or maybe this is why Fat Sal has a huge wage and he pays the bills through his own personal card.

Imagine the embarrassment of having their business card cut up in front of them as ordered by Visa, this must have happened.

I got told this off a rangers fan the other week, something about mccoist getting his bonus in cash?

[Benjamin_Nevis]

Vanguard Bears as classy as ever

ImageUploadedByPie & Bovril1386474908.518985.jpg

Fucking hell. Is there an even thicker element of Sevco support than RangersMedia?