written by – The Old Boy
Tuesday was another day of drama at Rangers where the club seems to be teetering on the edge of financial collapse.
As an ordinary fan, I cannot understand why when the club is in such a mess financially the board would turn down an offer from Robert Sarver, a very wealthy man who was willing to take control for £18 million pounds and then presumably pump some finance into Rangers to get us back on a professional level both off and on the field.
This at the same time as Sandy Easdale is giving us an emergency loan for £500,000 pounds which may not even cover the club’s January outgoings.
What is being hidden from view is – what is making the current board wish to hold onto control of the club, especially in the light of such dire financial circumstances?
It would be far easier to walk away from the financial mess that they have created and leave it to the various interested parties to fill the vacuum.
Many people are now starting to suspect that, whilst it has been acknowledged by every fan, that there has been appallingly financial mismanagement of the club there now may be something even worse.
Why else is there this desperation to keep control at all costs?
If we examine the Easdale brothers, neither one is known for their charity work, and when asked by a BBC reporter where they were finding the finances to invest in Rangers – given the accounts of their company could not be seen to support such investment – there was no explanation forthcoming.
The Easdales say that they do not take a penny out of Rangers which must mean that Blue Pitch and Margarita holdings could be paying them a fee as of which there is no transparency. A shareholding group could invoice Rangers for whatever and if you had your puppet on the board with their proxy vote and a tame chairman it could just be nodded through.
This, and not the wellbeing of Rangers, I feel is the motivating factor for the current board to hang onto control so desperately. There has never seemed to be any serious questioning of the Easdales as to who their backers are.
Surprisingly, the SFA have to be congratulated for once in refusing Mike Ashley anymore room for increasing his shareholding until his intensions for the club are made public. They should now be calling for urgent talks with the board and all other interested investors to clarify the short term financial future of Rangers.
Is it time for HMRC to be of some use and investigate a couple of Rangers existing board members to marry up their investment in Rangers with their tax returns?
The Old Boy has been a season ticket holder for nearly forty years.