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Hold this card up on the 18th and 72nd minutes if you want to
support Dave King’s attempts to invest much needed money
into Rangers.
USE YOUR POWER AS FANS FOR POSITIVE CHANGE
Despite our hopes that after the AGM we would see a big improvement in the way Rangers was being run, the club remains in crisis. We have had to take expensive short term loans just to keep paying bills. Mysterious shareholders at Blue Pitch and Margarita, still hold disproportionate influence through the Easdales and the board has refused to engage properly with Dave King who wants to provide funds to help the club.
The squad and the club infrastructure needs urgent one-off investment.
We can’t compete with Celtic on our return to the Premiership without building the club back up over the next year.
A new share issue might dilute the power of the mysterious shareholders behind Blue Pitch Holdings and Margarita, represented by the Easdale brothers, but we as fans care about what is good for the club, not faceless shareholders who hide their identities.
Dave King is offering the investment we need but this board, represented publicly on this issue by the hapless David Somers, accuse him of trying to destabilise and harm the club.
This board agreed a loan deal of £1m with Laxey Partners for a fee of £150,000. They also took a loan from Sandy Easdale for £500,000. Both loans are secured against Edmiston House and the Albion car park.
Official documents lodged with the Land Register show that the Laxey loan will be repaid from the first £1.5m of season ticket money the club receive this summer. If it is repaid in June then the equivalent APR is more likely to be 60%.
The Albion is a vital club asset. Without it being available for club use, the Club Deck cannot be opened for matches. If a hedge fund like Laxey were to secure this asset due to non-payment they could charge the club huge sums for its use. They could hold us to ransom.
Sandy Easdale has intimate knowledge of club finances but wants security for a loan. Why?
The board ignored much cheaper alternatives to this loan, offered by fans.
Only after a fans campaign have they agreed to start speaking to those willing to offer this cheaper alternative. Why?
Despite appearing on TV to mouth off about Rangers again, Charles Green still has not shown where his shares have gone or if indeed he has even sold them.
WE NEED INVESTMENT AND TRUSTED FIGURES ON THE BOARD NOW!
SUPPORT DAVE KING
WE NEED INVESTMENT
Sign up to back him at www.unionoffans.org or send your details to PO Box 3099, Clydebank, G60 9AN