Charlie is my darling

It is always sad to see a love affair go sour.

There was a time when The People loved Charlie.

I think the high point in the love affair was when he announced the success of the Initial Public Offering (IPO) of Rangers International Football Club (RIFC).

He stood on the turf at Ibrox and proclaimed “Rangers then, Rangers now, Rangers forever”.

It was clear that this was what The People wanted, indeed, needed to hear.

When the shareholders had left that meeting in June 2012 one of the chaps said that “it is like a death in the family”.

Hector was not for turning.

The mainstream media had peddled the reprieve via  CVA, but your humble correspondent had said that there was no chance of that and Rangers would be liquidated.

Back then The People were scared of liquidation because they thought that would be end of their club and the conclusion of their history.

That was, of course, before they discovered the Holding Company fairy.

After the CVA was rejected by the creditors the newspapers carried front pages showing a Rangers coffin being lowered into the grave.

This was an appalling vista for The People and for the administrators of the game.

Then Charlie provided a solution.

He was peddling denial about the death of Rangers.

It was a drug of sorts and The People dutifully stood in line trembling for their fix as he made them tea and they loved him for it.

Charlie had millions of Other People’s Money and the crowd at Ibrox were allowed to forget that Rangers had died.

They paid Charlie handsomely for the privilege of pretending that liquidation had not taken place.

The media fell into line and everyone had great fun pretending.

When the IPO was announced I was assured by an excellently placed source inside the Big House that the company/club did not in fact have £22 million in their coffers.

This was the figure being obediently stated in the media.

We now know was that over £5million left the building the day after the IPO in ‘expenses’.

However that left a considerable pile to run the business.

The coffers were also boosted by very healthy denial driven season ticket sales.

Moreover, those substantial cash reserves allowed team in the bottom tier of Scottish football to operate the second highest player budget in the country and the highest paid manager.

If the IPO comes under forensic scrutiny then the entire entity could start to unravel

Of course this is an entity (his word) whose legitimacy was recently called into question by Ex-Rangers Vice Chairman Donald Findlay QC.

If, as I believe, the Initial Public Offering is now under scrutiny then this is very serious indeed.

Of course The People in their lynch mob simplicity thinks all of this is wonderful for them.

The chaps in club ties that they once cheered and venerated are now hated.

Yeah I get that.

However, the myriad of potential litigation possibilities, both civil and criminal, would make pleasant reading only to a chiselling lawyer.

Of course not all in the legal trade are of such low moral worth and I am reminded that we are approaching the first anniversary this month of my friend Paul McConville.

The big guy, taken from us so suddenly and so cruelly, would have been all over this with gleeful precision.

His coverage of these matters would have been deftly handled and finely crafted with his whimsical style concealing a brilliant forensic mind.

I am very aware dear reader that I am a poor substitute in his absence.

However there remains a need for coverage that is lamb free and untroubled by the need to please PR chaps.

Excellently placed sources have informed me that both Graham Wallace and Philip Nash had serious concerns about what had taken place at Sevco Scotland Limited and RIFC before they set foot inside the Big House.

I understand that Graham Wallace was in touch with the appropriate authorities in early 2014 as soon as he had concerns about what he had stepped into.

I am told that the IPO was the centre of his concerns.

Sources close to Laxey Partners were horrified and impressed in roughly equal amounts at the global nature of the paper trail that took cash out of Ibrox.

The British Virgin Islands was often the final destination.

I understand that shortly before resigning Philip Nash had a meeting with members of a UK state agency and he told them all about what he knew of the financial goings on at RIFC.

There is little need for me, or indeed anyone else, to editorialise on how toxic the Ibrox brand has become over the last three years.

It would appear now that even some of The People are starting to get it.

They believe that they are blameless in the entire saga.

Indeed their only crime is gullibility.

If it is worth anything to you Charlie then you should know that I still love you.

You didn’t let me down.

I always knew that the People meant nothing to you.

Leave a Reply