Another difficult week at Ibrox

The truth can often upset people.

It certainly upsets The People.

As regular readers will know I have been reporting and predicting  a rather grim financial future for the club created by Charles of Normandy.

I was disbelieved by The People apropos Sevco  just as they ignored me when I warned them about Rangers (1872-2012).

Ah well.

After the announcement to the London Stock Exchange on Friday there is no further need for me to editorialise on the situation at RIFC/TRFC.

It is that bad that even The People get it now.


Sources tell me that RIFC Chairman David Somers is very angry that  the details of his remuneration was leaked to the media.

There are some people there on really super salaries.

In fact I know of one lucky chappie with TWO fat contracts.

I would not be surprised if there was some retaliatory leaking in the coming days apropos the wage packets of others at Ibrox.

At time of writing there has been no appetite from the existing Shareholders to  take part in the Open Offer.

This is very bad news dear reader.

Although the Administration plan from last February has been dusted off and updated there are still some around the RIFC boardroom table who do not have any appetite for austerity.

The Blue Pitch Holdings and Margarita Holdings folks seem very calm about the entire train wreck.

Other people within RIFC find this serenity to be strange,indeed rather unsettling.

It is almost as if they know something.

The Dave King chimera is currently giving some hope to The People.

However, this succulent stenography is rather cruel and the Ibrox customer base would be foolish to believe in it.

Last night the club created by Charles of Normandy received interest for two players.

I understand that there was a bid for Lee Wallace, but it was rejected.

The entire fee was £700,000.

However, that was not all up front and the initial tranche was only £400,000.

Sources tell me that there was also a bid for Lewis McLeod, but once more the fee was  made up of several increments.

They needed the full fees for both players up front and the clubs were not willing to do that.

The situation on the Open Offer should be clear by the end of this week.

However, at time of writing, it is not looking good.








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