27 February 2014

Union of Fans Statement

Following a meeting of The Union of Fans that currently comprises representatives of the following fan groups - The Rangers Supporters Assembly, The Rangers Supporters Trust and The Rangers Supporters Association, The Blue Order, Union Bears and Sons of Struth - we would like to issue the following statement:

Events over the past few days have left us deeply concerned, once again, about the direction our club is being taken in. We have waited patiently, as requested by Graham Wallace, to see progress as part of his 120 day review, but feel that the latest decision from the board, to line the pockets of shareholders who showed a total disregard for the wishes of fans at the recent AGM, is yet another kick in the teeth.

Over half way through Mr Wallace’s 120 day review we have seen little or no progress. Indeed, the investment committee set up by the board has only been able to secure a loan, at an inflated interest rate of 30% APR, from an existing shareholder. We have spoken to shareholders who were, and are, willing to provide the funds required at considerably better terms than the loan that has been taken from Laxey. This offer has not been progressed by the board or the NOMAD, Daniel Stewart. We would simply ask why?

We note Mr Wallace’s comments that a full process was followed but we have little or no faith that Daniel Stewart or the board have properly analysed the options available. We do not believe that taking a short term loan, at both an inflated rate and securitised against club assets, is addressing the need for a long term solution and urgent investment, and we have seen nothing to suggest this is part of a robust long term plan, despite Mr Wallace’s assertions.

We have no confidence in the current board and would ask Dave King, following his statement yesterday, to set up a trust where fans can place our season ticket money to be released to the club on agreed terms. We would also ask him to lobby all non-aligned shareholders and form a new Shareholders Group to challenge the anonymous shareholders behind Blue Pitch Holdings and Margarita, then take control of the board.

We have already had preliminary and productive discussions with respected figureheads for such a trust and we hope they will now step forward and support Dave King and the fans. Fans can indicate their support for the idea by visiting www.unionoffans.org and signing up.

Also, before this board once again unleash their PR bulldog, Jack Irvine, whose only function appears to be to attack Rangers fans, we would like to make it clear that, like Dave King, we are not suggesting a season ticket boycott. Like all Rangers fans we want to support the club financially as we always have, but it has become clear that the board are using our loyalty as a tool for their own ends rather than the benefit of the club. If they will not listen to genuine concerns or involve those with the best interests of the club at heart then they will have to be made to listen.

We cannot doubt the intentions of one of our own who has previously committed £20m to the club we love. Dave King has declared his willingness to raise capital and lead our fight to regain control of our club.

We ask all our fellow supporters across the world to join us, with Dave King, in an effort to return our club to the people whose only interest in making a profit is to reinvest it in our club.

3 comments:

  1. Too fuckin' right. I want those chavvy fuckin' Easdales out asap.

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  2. Dave King has to follow through, because in the previous attempts, the efforts by Murray, McCall were too lame and lacking in direction and commitment.

    Having read Graham Wallace's statement, which was clearly drafted by Jack Irvine, he has them rattled. Why else would Jack's little ditty constantly refer to past regimes.

    Dave King has nothing to answer for his previous efforts as a director. He committed £20 million of his own money, and acted as an associate director only, on a board that were there to give their opinions, but we're powerless to change the mind of David Murray, who was a law unto himself.

    When Murray let others run the club for him, the club began to recover, only for it to be sold to Whyte by Murray, despite the directors at that time,( including Dave King) telling him not to sell to Whyte.

    The constant lies and broken promises by the club, since BPH and Magueritta became involved has been breathtaking, and was summed up perfectly by King. The introduction of Laxey should've been an alarm bell to the support, as they are here for one reason; to make money out of the situation Rangers finds itself in. BPH and Margueritta are likely here for the same reasons. If they were genuine Rangers supporters, then we would know by now.

    This is the last chance we have to wrestle the club from these leeches.

    Graham Wallace,(or I should say, Jack Irvine), is right about one thing. At Rangers things do go in cycles.

    We invest our hard earned money, and they find creative ways to pocket it, then they ask us for more.

    This is what's known as parasitic, and it's time to cut the hosts supply off. Now!

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Keep it civil, lads.