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Since Nov 2009
Rangers financial crisis is real deal
Sealed Lips are not a Valentine's wish for dissilusioned Rangers fans
By Gary McDaniel
"Silence" is a classic track by saxophonist David Murray, which I recommend..... Mmmm Jazz..... Nice as viewers of the brilliant Fast Show will remember. But it is the silence of another, probably better known Mr Murray which is starting hit a bad chord with many Rangers' fans.
There was another show of protest, mainly directed at Donald Muir, at Ibrox yesterday but even though David Murray has taken a back seat at the club his disappearance should be a worry for the current SPL Champions.
The only vocal presence from within the club has been manager Walter Smith, a man who you feel has enough on his plate as he tries to steer his side to a domestic treble. The picture that the Rangers manager paints concerning the club's financial woes are akin to Notradamus. These comments have led the Rangers faithful to shift uncomfortably in their seats. Some have decided to take action, by protesting, while others seem to wish to ignore it for now and hope it will go away. It won't!
Maybe due to performances on the pitch and the woes of their bitter rivals across the city - it has led to many supporters and the media to focus on other issues. This could be naivety but in my view the issue will come to a head very soon.
Donald Muir's presence on the board has been interpreted as Lloyds Banking Group running the club, which could be correct. Rangers fans have become reliant on David Murray stepping forward from time to time reassure the supporters that he is on top of it. Not now though!
The past ten years at Ibrox has been a catalogue of financial disasters. The lavish spending of Dick Advocaat was permitted by David Murray as he signed the cheques for the likes of Arthur Numan, Giovanni Van Bronckhurst and Tore Andre Flo. The type of spending which could only be recouped with regular European success. A quest which is difficult enough for clubs such as Real Madrid or Internazionale, but for a club from Scotland almost suicidal.
After Dick Advocaat was kicked into touch by Martin O'Neil's arrival at Celtic, Rangers were left in a financial mess which new manager Alex McLeish had to some how manage. Big Eck did a stellar job while the truth of Rangers bleak accounts were being exposed for all to see. David Murray decided it was time for a share issue in which to raise funds to clear £70 million worth of debts. He raised a tenth of that from supporters, so put up the rest. It is believed that this money came from Murray International Holdings. A company which has recently seen debts amounting to a staggering £750 million and loans in the £450 million bracket. When these loans need renegotiating will the bank (Lloyds) be so forgiving?
Administration has been uttered by some Rangers' fans but the club, oops bank, deny this is the case but if a buyer cannot be found soon, could it be? Are they grimly hanging on to this season to allow time to find a buyer but also to avoid the indignity of suffering a 10 point deduction and breathe life into Celtic‘s title chase?
You only have to look at clubs of the likes of Portsmouth, Leeds United and Feyenoord to note that no-one is immune.
Around 18 months ago I wrote a blog criticising Walter Smith in relation to his tactics after the embarrassing European exit to Kaunas. It was met with general approval by most. The following week my blog focused on David Murray but was met with criticism as to how I could criticise a man who has done so much for Rangers. Yes but look at it now, who is to blame? The bank? No it was the short sightedness of a man who believed that as long as he spent more than Celtic everything will prove to be okay in the end.
Ironically Rangers reached their first European final since ‘72 with dark financial clouds gathering and one of the poorest squads in its history!
Rangers desperately need a buyer soon or the indignity of being a club which has fallen into administration is a fault which should be blamed on one man in particular. Let’s remember people’s livelihoods depend on it and I’m not talking about the players.
Yogi Hughes is the type of character Scottish football has been crying out for. A manager with more charisma than the majority of current SPL managers put together. The football his Hibs team play is also to be congratulated as big Yogi beams from the sidelines, although he knows when to turn grizzly as well.
I know the Hibs fans hate hearing these opinions but I do think he will go onto be a top manager down south in years to come. First though he could make history be guiding Hibs to Scottish Cup glory, a scene not seen since the black and white days and when folk seemed to walk really fast.
Big Jimmy Calderwood's appointment at Killie received some criticism in some parts but the former Aberdeen manager has got off to a great start. Speaking to a few Kilmarnock fans down here in Ayrshire there seems to be a "buzz aboot the place."
Many of the fans felt they needed a change in direction but it still hasn't brought the crowds back to Rugby Park. Don't they know the icy roads have eventually thawed out? Maybe the club could do more at getting the punters back in through the turnstiles.
Since it seems like the day to speak about Mark McGhee I'll put my 2 bob's worth in.
Those journalists who attended McGhee's press conference in the run up to the Celtic match must have been rubbing their hands with glee at the line about maybe resting a few players for the game. Journalists are always looking for a good line to go with for the Saturday paper as they want the back page. Print it and watch them go was the cry!
McGhee is an intelligent guy and knew fine well a comment like that would cause a stir, nothing wrong with that. He's a guy who has a lot to say even about his own club's supporters.
The Scottish tabloids will always focus on issues involving the old firm. Both clubs' supporters make up a large chunk of the footballing supporters in this country. They are also based in Glasgow and sell most of their papers in that city. It is understandable that it gets under the skins of fans outside the old firm but it is part of the goldfish mentality that is Glasgow.
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