Rangers FC

[5corpio]

Re: Rangers FC

Rangers sue former directors and Mike Ashley for £4m

Rangers have launched a £4m legal claim against a number of former directors and Sports Direct owner Mike Ashley.

The club allege Charles Green, Imran Ahmad, Brian Stockbridge and Derek Llambias negotiated commercial deals with Sports Direct below market value. They also believe Mr Ashley unfairly benefited from the alleged negligence. The action came to light at the Court of Session where Mr Ashley's legal team succeeded in a bid to get Rangers to disclose documents to them. Rangers allege that the former directors did not act in the business's best interests when they negotiated commercial deals with Sports Direct.

Naming rights

The deals which the club are objecting to include an October 2012 agreement in which the directors allowed Sports Direct to have the naming rights to Ibrox Stadium. Rangers believe that the naming rights were given to Sports Direct at a price well below their true market value. In November 2014, the club also entered into a Partnership Marketing Agreement with Sports Direct which allowed the business advertising space at Ibrox. The club's current management believe that the deal was also arranged at a price well blow its true market value. They also believe that Mr Ashley unfairly benefited from the alleged negligence displayed by Mr Green and his colleagues. Rangers hope to recover a total of £4,106,470.83 from the action. They also want a judge to declare the Partnership Marketing Agreement void. The action is concerned with the alleged actions involving the club's former chief executive Charles Green, commercial director Imran Ahmad and its former finance director Brian Stockbridge.

Source: BBC Scotland

[Never-In-Doubt]

Re: Rangers FC



the fun continues

[5corpio]

Re: Rangers FC

Rangers shares delisted from AIM Stock Exchange

Rangers International Football Club plc is being delisted from the AIM Stock Exchange. RIFC said that it is in negotiations to move trading to a different platform. Trading in the company's shares were suspended on 4 March following the resignation of its nominated advisor (nomad), WH Ireland. However, RIFC's new board has been unable to appoint a new advisor before Thursday's deadline to remain listed expired. The suspension of shares came after the removal of the previous board by a shareholder group led by former director Dave King. BBC Scotland has learned that, although shares can still be traded privately, a number of Rangers shareholders are considering legal action following news of the club's delisting from AIM. That includes the group for whom former football board chairman Sandy Easdale held proxies for around 20% of Rangers shares. It is also understood that at least one complaint has been made to the Financial Conduct Authority, but that body has no jurisdiction over Rangers....More here

[5corpio]

Re: Rangers FC

Nearly a Year on:

Mike Ashley installs former Newcastle United boss on Rangers board

Derek Llambias is to join the board of Rangers as part of Mike Ashley's increasing control of the Scottish football club. Mike Ashley has installed former Newcastle United boss Derek Llambias on the board of Rangers Football Club as he continues to tighten his grip over the Scottish football club.

Mr Llambias, a former managing director of Newcastle United Football Club, has been acting as a consultant to the Rangers board since its chief executive was ousted last week and is thought to be Mr Ashley's top pick to become the Ibrox club's new boss. Mr Ashley won the right to appoint two new directors to the Rangers board after providing a £2m emergency loan to the club just over a week ago. The loan has helped the Sports Direct boss increase his influence at the club, in which he owns an 8.9pc stake, a move which has already seen off Rangers' chief executive Graham Wallace and finance boss Philip Nash. Just weeks before making the loan, Mr Ashley had called for a shareholder vote on their removal. The recent boardroom drama follows years of upheaval at the club. On the field it has climbed back to within one division of the top flight of the Scottish game after its 2012 collapse under a mountain of debt forced it to relaunch from the fourth tier.....Read more here

[Never-In-Doubt]

Re: Rangers FC

Dirty Dirty Septic. That is all

[5corpio]

Re: Rangers FC

Co-op Bank slammed for dishing out £33m in cheap loans and overdrafts to Celtic Football Club -

The Co-operative Bank has come under fire for dishing out £33.2million in cheap loans and overdrafts to Celtic Football Club, which was chaired by former Labour home secretary John Reid. MPs last night demanded an explanation for the rock bottom interest rates and accused the mutual of using the ‘hard-earned cash of millions of savers for political gain’. It is the latest twist in the row over the troubled lender’s links with the Labour Party....Read more here

[Never-In-Doubt]

Re: Rangers FC

It's kinda cute that they miss fighting with us so much that they've started to kick the shit out of each other

M1

Haha we'll be back

[mystery1]

Re: Rangers FC

It's kinda cute that they miss fighting with us so much that they've started to kick the shit out of each other

M1

[5corpio]

Re: Rangers FC

Rangers: Mather discusses club future with Dave King

Rangers chief executive Craig Mather and finance director Brian Stockbridge have held discussions in South Africa with Dave King over the club's future.
King invested heavily during Sir David Murray's Ibrox reign and maintained interest during recent club events. But issues with South African tax authorities prevented him from playing a more significant role. King recently agreed to pay almost £44m to the Revenue Service as criminal charges against him were dropped. A spokesman for the Rangers board told BBC Scotland: "Craig Mather and Brian Stockbridge have been meeting a number of investors. "Craig is returning from South Africa tonight (Monday) and has also been in Dubai. Brian was in South Africa last week." King did not wish to comment when contacted by BBC Scotland. He has, however, spoken in recent weeks of his desire to invest in Rangers.....Read more here

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Re: Rangers FC

Rangers board close to peace deal with four new directors


A peace deal to halt ongoing strife between Rangers' board and disaffected shareholders is close to completion, according to senior sources. The League One club are poised to add four new directors to the current five-man board and avoid what promised to be a stormy extraordinary meeting. "No-one will be leaving the board," said an Ibrox source. "The deal is close to being agreed and the four will be joining the board at the request of the requisitioners." The four would join the board at the request of the group of shareholders who have demanded an EGM in an attempt to remove chief executive Craig Mather, finance director Brian Stockbridge and non-executive director Bryan Smart......More here

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Re: Rangers FC

SPL chase Rangers EBT inquiry legal costs

The Scottish Premier League has confirmed it is pursuing legal costs for an investigation into undisclosed payments to Rangers players.
Oldco Rangers were fined £250,000 in February after being found guilty of breaching SPL rules relating to payments issued through their Employee Benefit Trust scheme from 2000 to 2011. The costs of the probe are reported to be up to £500,000. Rangers say it is "ridiculous" to expect them to foot the bill. The inquiry lasted almost a year and the verdict was delivered by an independent commission, led by judge Lord Nimmo Smith and featuring two QCs. A statement from the league read: "There has been a routine application for costs given that the case was successfully pursued by the SPL." The SPL would not expand on whether they were pursuing the newco Rangers for costs but they would have no chance of securing any from oldco Rangers, which is in liquidation.....Read more here

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Re: Rangers FC

Rangers: Malcolm Murray issues apology from the Club

Chairman Malcolm Murray has issued an apology on behalf of Rangers for the "distress, disruption and difficulty inflicted on the football community". Read more Here on today News 03/07/12: BBC Sport - Rangers: Malcolm Murray issues apology from club

[PlanB]

Re: Rangers FC

Oh dear oh dear. Fingers in the till time . . . .

http://www.bbc.co.uk/news/uk-scotlan...-west-18582965

[Pixie]

Re: Rangers FC

Rangers could buy Blackburn - anything to get rid of Venky's!

[Numpty Monkey]

Re: Rangers FC

It's club 12 cos they don't know who it is yet - could be anyone that takes the 12th place.

or no one ?