Published on 5 Dec 2012

Are those who walked away from Ibrox mice or men?

So, HMRC are seeking leave to appeal. The move should surprise no-one in what’s rightly seen as an important potential precedent – not least for prominent English football clubs who appear to think they’re The Queen when it comes to tax.

In short – it’s not about Rangers. They just happen to have been the first, so they’re the vehicle.

So what should happen?

Let’s imagine that our land is a place where prominent men are mindful of the current public mood. Where leaders are cognisant of the austere times, of the struggle we are all in together. That they recognise (as we heard only this morning) that our current economic hardships are akin to living through a lengthy world war. And that powerful men feel the civic imperative and lucid moral impulse that each must pay his way according to his means.

In short, let’s imagine they get it – The Men Who Walked Away from Ibrox.

If so, it is profoundly to be hoped these men can yet find it in themselves to seize the moment, see the current zeitgeist and do a Starbucks.

As the global coffee-supremos bow to the mood of the times and decide that paying their way should be considered, so should the directors who loved Ibrox so much they drove it into the ground and walked away with free “loans”.

Well – there’s never been a better time than now to pay ’em back lads.

To face the undisputed fact that these “loans” triggered the chain-reaction which led in part to the downfall of Rangers Football Club. To face that simple responsibility.

The house-extensions are paid for tax-free, interest-free. So too the second homes in France. It’s all in the Tax Tribunal report, since many candidly admitted what they did with their very own Jersey EBT ATM.

Campbell Ogilvie – currently seeking re-election as President of the Scottish FA, could surely bolster his campaign by showing leadership and an example and paying back his loan.

Campbell? Campbell?

Leading by example… Thinking of the game…  Rescuing the reputation of the once-great Rangers…Yes I know it’s not been the way. If they’re at a loss then just call up Turnbull over in Kirkaldy or any number of SFL Chairmen and they can probably show you how to do the thinking about the game thing.

At least the Integrity Tendency of the Scottish Football Leagues who so memorably saw off the Premier League’s shabby attempts to special-case Rangers, will have some pointers on leading by example over this.

With appropriate support and counselling it can probably be explained to the former Rangers FC directors – The Men Who Walked Away – that you can go to a thing called a bank or building society where they will give you the money to repay your EBT “loan” (yes!) in the unlikely event of you not having the folding to hand.

Yes – you really do pay it back and over a set time.

Yes – there’s something called interest on top to pay back too.

Yes – it might add up to something called a mortgage (ask Turnbull et al on Planet Earth).

No – Jersey, nice generous Crimson and the felicitous Mr Red don’t come into it.

It’s what the little people do. Remember? The little people who pay income tax. The little people who pay national insurance contributions. The little people who buy season tickets at Ibrox. The little people who buy club merchandise. The little people who go to Peterhead, Annan and see The Brechin Hedge. The little people who even now fill Ibrox. The little people who volunteer for the great charity work the club still does.

The little people who whipped-round to pay off some of the Glasgow charities and businesses you left out-of-pocket as you trousered your “loans” and fled.

And yes, the same little people in droves still trying to defend you against any criticism for wrecking the football club they loved and still love.

It is called loyalty. Does it not deserve something in return?

So the challenge for The Men Who Walked Away is obvious.

They can cringe like mice, hoping their tawdry tax-avoidance scheme which helped destroy old Rangers will be confirmed as legal by the appeal court and that this will all go away along with their part in it.

Or they can be men. Recognising the country they are in, they can make a stand. It is not too late. Pay back the “loans” and pay them back now.

Pay them back openly. Pay them publicly. Seize the chance. Seize the mood. Seize the opportunity to right and do good.

Good for themselves.

Good for Rangers fighting to leave all this behind.

Good for football and Scotland.

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70 reader comments

  1. Graham Scott says:

    How long are you going to spout the same dross with a different headline?
    Every time we hear from you the same garbage gets dragged out, and think you should move on and give some other poor soul your undivided attention. All along you have been a guardian of rumours, if we wanted rumours we would have visited the where you have taken most of your “info” from. I hope you show some integrity and send half your salary to the clown that ran and has now run away. Wish you would continue copying him, and get lost.

    1. James says:

      Yes Graham you would like Alex to go away like every other bear, truth hurt.

      No chance of the succulent lamb brigade reporting the truth is there.

      Maybe Sir Walter could do the decent thing and pay his back instead of keeping valid evidence back, after all is he not a man of dignity.

    2. Willow says:

      Can I take it from your post that you don’t think those guys should repay the so-called loans?

      Interestingly Tommo wasn’t having a go at the old, dead club but rather the ones that owe it money. Having read an assortment of replies on many sites I often find myself wondering if RFC and Sevco fans ever covered interpretation in English classes.

    3. PrideAndNoPrejudice says:

      Graham, if you don’t want to read what Alex writes, why do you actively go to his pages to read what he writes?…

    4. listenteyerda says: got it right! said it was inevitable, LIQUIDATION! and it HAPPENED! Allowed to happen by whom? I think we all KNOW! and if the Alex Thomson blog upsets you, dont read it! Also lots of worrying times ahead for the old bears!!!!!!! and the new ones!

  2. duncan mc phail says:

    so you have never bought any thing off amazon used google starbucks
    and you will know where every club does there banking ? you concern for the little people
    its good of you to think of them but .a simple fact is you joined the band of put the boot in to rangers and keep up your ratings from the anti gers supporters .

  3. Prince Charles says:

    Pay back the “loan” Sir David Murray.
    Pay back the “loan” Alex Mcleish.
    Pay back the “loan” Barry Ferguson.
    Pay back the “loan” Graeme Souness.
    Pay back the “loan” David Dodds.
    Pay back the “loan” Campbell Ogilvie.

    1. trueblue says:
  4. Frankie says:

    Jeezo, “Thommo” still endlessly talking mince about Rangers. Didn’t he say he was off to Syria or to deal with some other far more important issue?

    He obsessively puts “loans” in inverted commas – a childish trick he often uses. He should remember – if he ever knew – that even HMRC’s lawyer told the tax tribunal that the loans were not a sham.

    1. Lazzarito says:

      No he’s talking mice about Rangers – read the headline !

    2. hancock says:

      If the loans aren’t a sham … then they have to get payed back you nugget…… if not …. then it’s a sham …. simples

    3. Sparts says:

      You don’t really believe they were not a sham.
      This is what frustrates people.

  5. Sprotson says:

    The loand were made to these employees by the trust and therefore can only be paid back to the trust, not to rangers oldco, Rangers newco or any of the creditors

    1. Colin says:

      Very good point. It leads to the question – what then happens to the cash once it has been repaid – as it must be?

      We should be told

      1. who gives a monkey's says:

        can i just ask you,”why should we be told”,”why is it a concern for joe public,if someone pays back a loan,or not”,this rash comment is a prime example of ‘rangers obsessive disorder’

        its over fineeto,what will an appeal do tht aint already been done,this is old news,its over go home,nothing to see here,

      2. Bruce says:

        What could an appeal do? Overturn the previous verdict. So its far from over.

    2. Freud says:

      So, Sprotson, the loans were “made by the trust and can only be paid back to the trust”. Question – where did the money come from that went into the trust? Duh! Wasn’t it a loan from Old Co? Duh! Doesn’t that mean if the trust gets its “loan” repaid, it can also repay the “loan” from Old Co? Maybe we should just wait for BDO to unleash hell.

    3. isnibs says:

      Sprotson, If the trust paid the players then we now have 3rd party payments on top of not disclosing the second contracts to the SFA.

      Not looking good is it.

      Let the title stripping commence

  6. trueblue says:

    really thompson just you make sure you pay yours thats all you have to worry about or you another who thinks theve done nothing wrong stop hiding behind a pc and talking tripe

    1. Sparts says:

      Alex really doesn’t appear to be hiding behind anyone or any pc. Quite the opposite.
      Are you frustrated that unlike the Scots media he simply isn’t intimidated by old firm fans?

      But yet again, another comment that has no pont to be make. You gers fans are quite tiresome.

    2. DLB says:

      everywhere website i visit i have to put up with your uneducated, illiterate & totally inaccurate account of what on at the now defunct RFC.

      i disagree with alex when he implies that the rangers fans are innocent – far from it in my view.
      everything & everyone at that club are guilty of ignorance due to their obsession to be bigger than famous glasgow celtic.

      alex there are bigger n better stories to be reporting on like the hun mentality currently being displayed throughout n.ireland over the removal of a flag from city hall in belfast.

      once you take a good look you will see the similarities with whats going on at rangers & begin to understand why this section of irish/scots/brittish community are still living in the 18th century….sad but true

  7. AntoniousF says:

    The rangers or TRFC, whatever way you look at them are on a win win here. if the pay tgem back that that is the old rangers honourable way. if they do not pay them back then it is nothing to do with TRFC as they are not the same as old Rangers. twisted logic or what?

    1. who gives a monkey's says:

      twisted logic

      do u even know wht logic even is or what it means
      for 1 rangers have always been called ‘the rangers’ from day dot,and anothe thing tht u probaly dont know,celtic have always been named ‘the celtic’..but u already knew tht did nt u

      people like urself should try stickin to what thy know best,and if thts as impossible for u,as it is for the upteen unemployable tax specialists,then at least have a wee gander at the basis of wht u want to say

      tht way u might have seen tht ‘the’ as always been there,all tht has changed is from inception is its went from ‘the rangers football club ltd’ to being named ‘the rangers football club plc’ when murray took over from mr holmes,and now its name is’the rangers football club ltd’,which is back to the way it was in the bygone days of yore,

      now the tricky bit,or at least it may be for u,try going away and doing a bit of digging and find out how many holding companies have had celtic,aswell as finding out how many times the name of the club has changed,and b sure to use all the skill uve picked up from ur months of trolling

      as going by ur logic of rangers being trfc,then ur dear old celtic have had more names than the great and mighty phil ‘the phonebook’ mcgobbledegiver

      so go on i bet u dont know this history u speak and sing of……..8 thousand fans,shame on u

      1. Stevie says:
      2. Tarzan says:

        What is this obsession with Glasgow Celtic?
        The The Rangers former name was Glasgow Rangers.
        The The Rangers are oot of European fitba for 3 years because they are a newly formed company and without the 3 years of accounts,which are required by UEFA.
        Even my pet monkey gets it.

      3. Bruce says:

        The Rangers former name was Sevco.

        They’re a new club hence they aren’t eligible for Europe.

        Your pet monkey was almost there.

  8. scott says:

    Do you ever write anything that doesn’t involve “oldco” rangers? I thought that someone in your position was supposed to be impartial, but it is clear from all you have written recently that you have your own agenda. I don’t know how you get away with writing this nonsense. No wonder channel 4 is famed worldwide for its sports coverage. Try changing the record, it’s getting tiresome now.

  9. Moi says:

    Your denial is getting tiresome Scott, pay your taxes (and debts) like everyone else….Oh….and stop bleating about it while you’re at it mate.

  10. bodbhoy says:

    Alex, as clearly demonstrated they’re mice, cheating tax dodging mice, nevertheless MICE. Unwilling to accept they’re transgressions because they believe they’re elite & superior to the rest. The taxman will prevail & the cheats will PAYE.

    1. who gives a monkey's says:

      i think the tax DODGING issue has been prevailed upon,but hey never a crowd for letting the facts of the matter get in the way,

  11. BlueAndWhite says:

    Whenever I see “Channel 4” I know that its Thompson spouting his anti Rangers rhetoric. He should get a life and realise the world does not revolve around the Blue half of Glasgow. We will rise from the ashes … in our own time … and there are far more important world exclusives that require his attention. Rangers Then, Rangers Now, Rangers Forever !!!!

  12. Frankie says:

    Well done again Alex, the truth hurts these atavists. Wait a minute there are three syllables in that word so they won’t understand!!!

    atavism is a cultural tendency—for example, people in the modern era reverting to the ways of thinking and acting of a former time

  13. MR FAIR PLAY. says:

    A shame grown up people cant face facts and look at the real reason they are in the mess they are. Arrogance , Elitism and a mislplaced superiority complex.

    Get over yourselves and try and be honest and fair and decent for once in your lives.

    Pathetic doesnt even come close….

  14. OLEMUNGOBHOY says:

    EH Frankie ……….. try getting back to real world .

    The FTT was not a trial … was an appeal by RFC (IL) against assessments made by HMRC (ie you and me as taxpayers) on what RFC(IL) owed us . RFC(IL)had already admitted to 36 cases. The FTT Tribunal found another 6 cases where Tax Nic etc were in their view payable. Amounts — who knows ?

    Learned cousel for both HMRC and Rangers FC (IL) agreed at the outset of the hearing that the legality of the EBT arrangement was not in dispute. What was at issue was the administration of the EBT scheme. There was therefore no investigation/discussion / reference to the legality of the MIH EBT scheme by either The Taxpayers representative (HMRC) or RFC(IL) ‘s counsel

    The tribunal panel split 3-1 the dissenting member spelling out in some detail why she considered the MIH scheme to be a sham Tax Evasion mechanism. More than half the 145 page report spelled out her arguments ( have you read it ?). This is what we will considered by the UTT , on appeal, who are not bound by law to follow the FTT’ findings.

    SDM and his Board members and the Rangers(IL) support are in for a cataclysmic shock. Remember you heard it on here first !!

  15. the iceman says:

    I think they will never listen. They live in a land of illusion. Reality like decency and honour will not trouble the ebt brigade who destroyed Rangers. Bizarrely their victims still absolve them of all guilt and hate any who seek to inform them of truth. The delusion that is Rangersitis. Probably incurable

  16. Anne Macneil says:

    good God when are you lot going to realise what’s right under your nose. .Good article but as usual you take it as a slur. Paranoid or what.

  17. graham says:

    really good blog Alex it’s a pity none of the “journalists” in Scotland have got the balls to stand up to “the peepil” the Masons have got too big a grip on society here.

  18. Shirley Wishart says:

    It still amazes me that Rangers fans are still not angry with their club. True loyalty doesn’t mean blind loyalty. For those who are deliberately misreading and misinterpreting Thomson’s blogs lets see what happens when CG flies the coop after he’s trousered a few million for himself. The fans aren’t even ashamed that hardworking small businesses still haven’t been paid for services provided during Craig Whyte’s tenure.

  19. Philip Edwards says:


    You know your problem?

    You talk far too much common sense.

    But that isn’t what football fans want to hear. The majority of them just want to win and don’t much care how it is achieved. Hence the chauvinist nonsense you get from head-in-the-sand fans. It isn’t just Rangers fans.

    Minor quibbles aside, I think you have made your point about what Rangers were up to and what its broader implications are. You need only look at the economic disasters that are Spanish, Italian and Brazilian football. There are others.

    There won’t be much change until your kind of common sense gets traction in the game. Then again, that is merely a reflection of the current spivs who own and run the country and its economy. Football is almost the least of it.

  20. Realistic bear says:

    So AT wants some form of voluntary or moral tax…. Aye right.

    Lets scrap trust law/tax planning / corporate strategy/ hundreds of years of looking at ways to minimise tax ( both by companies and individuals).

    Lets always pay full price for everything, not complain about VAT, scrap all ” jobs for cash discount”.

    Lets get rid of ISA’s.

    Lets get income tax up.

    Face it AT old co did nothing wrong , just followed an available tax strategy that with hindsight HMRC are now challenging. So get it right old co followed the rules and have been hung for it after the event.

    1. rabthecab says:

      “Face it AT old co did nothing wrong ”

      Have you forgotten about the unnamed no. of EBTs RFC(IL) agreed there was PAYE/NIC lilabilities, or the 5 where the FTTT found such liabilities?

      Selective amnesia anyone?

  21. Gary C says:

    It’s incredible. Who are they actually defending here? Rangers are dead, gone, eliminated, buried, kapoot……These are the people who killed your club. Not Dundee Utd, Aberdeen, Celtic, The SPL, SFA ,SFL or Alex Thomson. The people who killed your club are the people who were entrusted to look after it. They’re the ones who took YOUR money and then placed it into a trust and paid themselves and employees tax free loans. How blinded can you be, honestly??? Them and them alone Killed Glasgow Rangers. It wasn’t a shooter on the grassy knoll. it was messers, Murray, Bain, Ogivlie, and many others. Open your blinkered eyes…… If you really can’t see this then you’re a lost cause. If It was people who had done that to my club I’d be orchestrating huge online petitions to demand they pay it back and admit what they did was wrong, Sadly you’re blaming people who’re highlighting this to you. If you’d all opened your eyes 18 months ago, you as a support united could have stopped Craig Whyte gettiing a hold of your assets, but no. You chose to believe the people in the know and believe the Scottish print press and their stories of a billionaire taking the club over and talks of war chests. Sadly if you all had only take 5 minutes online to check companies house about Mr Whyte, you’d have found that he didn’t have a million nevermind a billion. Now you can buy into Mr Green’s hype and soon I can guarantee you he’ll be high tailing it over the border back to Yorkshire with your hard earned money. I for one shall sit quietly and never mention ” I Told you so”

  22. hugh says:

    Even when it’s there in black and white for the average fan of the blue side they still don’t get it and defend the indefensible. Get your heads out of the sand and wake up to what these shysters have done to your old club.

  23. Dhougal says:

    Alex like every great journalist has now got the bit between the teeth ………keep gnawíng Alex !!!

    They don’t like it upem !!!!

  24. Joe Bhoy Snr says:

    It really is a pity thats SMSM dont have anyone like you on the books up here Alex instead we have the Sevco/Oldco poodles who just rehash anything that will put their masters at ibrox in a good light whether there is any truth in it or not but then again why let the truth get in the way of good propaganda. The only reason Sevco fans want you to go away is because your are STILL the only journalist outside of Mark Daley who is willing to put his head above the parapet and tell it like it is, if only the rest of the journalists had your fortitude in the face of the usual threats from Sevco fans we might have had an unbiased perspective on the biggest sporting scandal ever to hit our Country long before now, how they managed to HIDE and IGNORE this massive story for so long is to their shame and yet they still claim to be proper “journalists”

  25. Paul C says:

    Great article Alex

    Rangers fans are also victims in this saga along side creditors and tax payers. Problem is they don’t see it, they can’t see they have been milked as cash cows and then sold for meat. What you call “loyalty”, I would call delusional or blind faith if I was to be more sympathetic.

    At the end of the day this article should be an eye opener for fans as well as something positive, but I’ve lived in Glagow too long to know what’s going to happen here.

    They will read it, but they will only see what they want, then fill the comments section with

    “how dare you call us little people, WATP” no surrender etc

  26. AnthonyC says:


    Have you actually read the FTTT findings, a “journalist” of your “standing” should have read every word? It clearly states that this case has and will have no outcome on any future cases HMRC lodge. This is NOT a test case and can NOT be used as against English football clubs even if the appeal is successful!

    As always it’s a “pleasure” reading your “unbiased” comments.

  27. Dave says:

    I can’t believe that believe that any football supporter would disagree with anything that you say in your blog Alex. surely you are only following what the FTT said loans are re-payable, so logically they should be re-payed

  28. David says:

    So if this is a test case where is the channel 4 hounding out program for all the other or is this just something they only do for Rangers?
    Alex when will you start showing all the documents and lies from the other test cases?
    And if this is a test case then why has HMRC accepted payment from sid other clubs ?

  29. Ed Dunne says:

    Having read some of the comments above it is plain to see that the posters of a TRFC persuasion have not taken the time to actually read the piece. They seem to be waiting with the standard default reply as soon as Alex posts anything. Do yourselves a favour, read and digest before spouting nonsesne in reply.

  30. Mea Culpa says:

    The truly astonishing thing with this whole fiasco is that the one group of people who should be screaming from the rooftops, demanding to know the truth are the rangers fans.
    Yet, stand on any rooftop in Glasgow and all you will hear is the sound of traffic below.

    The club they steadfastly supported, some for generations, is now gone.
    140 years of history, gone down the pan.

    Yet this one group of people continue to blame anyone and everyone except the very people who are responsible for the running of their club.

    Face it guys, if your club had been run honestly and above board, this club you all thought too big to fail, could anyone have brought it down from the outside?

    Not a chance.

    Your once great club imploded. Destroyed from the INSIDE.
    You should all be demanding to see the books; demanding to know what actually happened during the past 20 years and more.

    But, you already know the truth and it simply hurts too much.
    So, your defiant motto of “No Surrender”, so deeply ingrained in your psyche, comes to the fore again and so long as it does so, you are merely continuing to inflict pain on yourself and your fellow supporters.

    Open your eyes. Be honest to yourself and demand that the truth be unveiled.
    If your club had done nothing wrong, then opening the books will verify this.
    But…. do you really want to know….?

    Often, the truth hurts.

  31. Big Mike says:

    That is the problem with all to do with The Rangers they have no morals, no dignity!

  32. Gerry OByrne says:

    I think you have rattled a few cages here Alex. As per usual Oldco/Sevco keep their heads in the sand about their club cheating the Tax Man whilst we all pay out share.

  33. ALAN MCPHERSON says:

    In the name of the wee man!! Yes Starbucks are going into negotiation with HMRC about paying some tax. Rangers and MIH have already entered into negotiations with HMRC to pay some of the tax – HMRC refused, instead preferring to seek the ‘whole amount and penalties’ and lost their case at the FTT. A high risk strategy, that HMRC took with taxpayers money. The real story here is why HMRC pursue the, ordinary man and woman and and small to medium size companies while ignoring the multinationals or doing surreptitious right-off deals with them – e.g. Vodafone. The HMRC strategy is morally questionable and raises serious doubts about the competency of their legal advisors.

    Never let the truth get in the way of a blog though!

  34. A Macdonald says:

    Alex is just enjoying being a hero to Celtic fans. It doesn’t matter if that little thing called ‘truth’ gets in the way.

  35. Mea Culpa says:

    One additional point, if these EBT payments were in truth “loans”, did we hear a clamour from the rangers faithful demanding repayment in order to save the club?

    Why not?
    Because even the rangers fans know the truth.

  36. Scot says:

    It’s Kirkcaldy, not Kirkaldy.

    And the government needs to take responsibility for ensuring its own tax laws are fair and can be readily applied. Companies and individuals are always to look for ways to legally minimise their tax liabilities.

  37. Sparts says:

    As you rightly state Alex, these cretins have taken money from the pockets of hard working “ordinary” folk. In my experience this is what has angered people the most. Rangers would have been successful without these side payments anyway, certainly in terms of the Scottish football scene. The anger comes from the unwillingness to acknowledge what they have done as being underhand at best and dishonest at worst.
    The frustration with those Rangers fans who still insist the club has done nothing wrong (legally or morally) won’t subside until such a time that those who were in charge of Old Rangers put their hands up and admit that they got this wrong.
    This won’t go away Rangers fans. Why, the story doesn’t end here or with Rangers. This goes far wider and involves other clubs mainly in the EPL. The sums of money are quite staggering, especially at a time when benefits are being cut (surely of concern to those on the west coast of Scotland!?), medical care funding being cut, inflation outstripping salaries and our country overflowing with debt.

  38. Jim McNaecash says:

    I don’t get why former club Rangers fans are having a go at you today Alex; perception of previous ‘misdemeanors’ perhaps?

    Anyway, they should actually take the time to read the article and understand this very basic fact from what you have stated:

    Honestly lads, think about it. Don’t take the “everyone’s against us” attitude.

    It really is very simple: the loans was money that went out of Rangers’ accounts. All 40-odd million pounds of it.

    A poor season’s turnover, if you will. Enough to not require going cap in hand to Ticketus before Whyte bought control (for a shiny pound). Enough to not need Whyte to go to Ticketus had he somehow managed to gain control of the club (£40m+ easily covers £20m or so debt, right?). Enough to pay last year’s PAYE and NIC.

    In short, the money going out to cash-rich players, managers, directors, etc was more than enough to stop the club going into liquidation.

  39. Nessiewatcher says:

    Alex, your critics are quite correct, you should let this subject go but not until the loans have been repaid and the guilty are held to account. keep up the good work.

  40. Mick says:

    Instead of insulting Mr Thomson, why don’t you, if you disagree with his point of view, say so and why……that is what a grown ups do in a debate. If you are unwilling or incapable of doing so then please go elsewhere…..I am sure there are other forums where drivel is welcome….this is not the back of the goal at Ibrox.

  41. del says:

    They claim to have loved the old rangers but they sat back and let their club die while cheating the the taxman and everyone else. They got found out and now its everyone else fault,while Celtic march proudly on in Europe they are languishing in the the third division.We know its hurting but yous let your club die no one else get over it.

  42. Macca says:

    Well said Mick….hopefully those who want to contribute to the debate will remain…the others will go away and take their bitterness with them….no place for self righteous bigots here

  43. Foxhole Atheist says:

    any chance of you posting your tax return online Thomson, just to show that you are leading the way in the amount of tax to be paid, as you are clearly such an expert in the field?

  44. Deansy says:

    Wasting your time, Alex – THEY don’t do morals.

  45. Halloween Jack says:

    The stupidity of The Rangers support really is flabbergasting. Re-read the piece. He is writing it from a position of utmost sympathy for Rangers fans. He knows that the average fan is blameless in this shambles. He praises your club’s charity work, he praises your loyalty and points out who is really to blame for your club dying. And you lot insult him for doing so. Jesus wept.

  46. Prince Charles says:

    How are these guys going to make money out of Ibrox?
    It is beyond me.
    Got this from the Investor Chronicle site.

    Rangers to debut on Aim

    Rangers International Football Club (RIFC) plc is expected to join London’s junior market on 19 December. For fans, that means the opportunity to grab a stake in Glasgow Rangers, 54-times Scottish champions, as an early Christmas present. The official name is now Rangers Football Club Ltd. RIFC is to own and operate Rangers FC, which, after exiting administration earlier this year, is now debt-free but plying its trade in the fourth tier of Scottish football.

    The complicated structure has not prevented Charles Green, chief executive, from drumming up interest among institutional investors ahead of the Aim listing. Mr Green had originally intended to raise £20m from the IPO, but £17m has already been committed, at 70p a share, from a range of investors. These include Hargreave Hale, which is to purchase 4.95m shares and acquire an 8.58 per cent stake (before the public offer). Artemis (7.43 per cent), Cazenove Capital (4.25 per cent) and Legal & General (3.47 per cent) are among the other investors. Pre-IPO investors also include Mike Ashley, UK retail entrepreneur and owner of Newcastle United, who has 3m shares.

    Mr Green expects the public offer to raise another £10m, taking the IPO total up to £27m. Although £500 is the minimum price to get a stake in RIFC, that is unlikely to deter fans. According to one source, speaking to Investors Chronicle, Capita Registrars has received subscription demand for RIFC shares totalling £24m.

  47. Patrick says:

    20+ years of journalistic experience and you produce this pap? Why such childish and petulant digs from a man of your age and experience.

    You really do owe that fine body of men, the Rangers support, a huge apology for how you’ve sided with bigoted obsessives and delivered their lies.

    Tut, tut, Alex! Hang your head in shame.

  48. Prince Charles says:

    Enough of the sunbathing in Syria.Took this comment off IC.
    Could not express it better myself.

    Strange to find Investors Chronicle even commenting on the investment prospects of a football club’s holding parent company. Fans will buy if they are emotionally attached and they know they will not receive a return on their investments. The share certificate will go on the wall beside the share certificate of the bust company but they won’t mind. But its a different story for Institutional investors. If any of the names quoted really are putting in money then there is something suspect about this and it needs investigation.

  49. Big Mike says:

    Rangers the club with no dignity, no shame!

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