The importance of The People and their money

The immortal Jock Stein once famously observed that “football is nothing without fans.”

That is now especially true of the club currently trading as Rangers.

Of course, they are a loss making business without a credit line from a bank.

I understand that the New Regime recently tried to rectify the second part of that statement.

Well-placed sources tell me that a mainstream bank was approached for overdraft facilities, and two directors were willing to become personal guarantors.

However, when they looked at the numbers the bank Did Walking Away.

So that leaves the fans.

I believe that their collective funds will be vital for the future financing of the loss-making operation until the end of the season.

Of course, it is entirely understandable that the fans might want to band together to buy out other shareholders, but that will not address the liquidity crisis at Ibrox.

Instead, it would be much better if the New Regime were to receive cash from these groups of supporters by some means or other.

If this were to transpire then, the supporters groups would effectively become the bankers of last resort to the new club.

Whether it is by Junk Bonds or James Bond the chaps who work diligently on Her Majesty’s Revenue Service will have to be paid timeously.

I am confident that when Mr Derek Llambias and Mr Barry Leach were in control at Ibrox from October 2014 to March 2015 that all such matters were entirely in order.

Should Charles Green win his case for legal costs next month, then every penny will be needed.

What can be safely established is that the Season Ticket money is expended, and the New Regime is operating the business on gate money and match day revenue.

At a recent meeting of supporters’ groups, a chap introduced himself as a trained accountant, he then laid out the options should an insolvency event occur.

I understand that one fellow there,who is close to the thinking of the New Regime, did not take kindly to this contribution.

It was then pointed out to this Blue Room loyalist that the fans had yet to see any evidence of …ahem…overinvesting from Mr David Cunningham King.

It would appear that some of The People are starting to wake up.



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