DUBAI LOYAL: EXTRAORDINARY GENERAL MEETING – SATURDAY 2.30PM

Bears,

As you are all aware these last few weeks have been very difficult for our beloved club.

On Saturday there was a meeting at Ibrox and the Rangers Fighting Fund has been launched  (details of the meeting are shown below).

I propose to have an EGM on Saturday at 2.30pm in the Centre Circle Bar at the Ramada Chelsea Hotel and urge ALL members to make an extra effort to attend so we can field and answer any questions and discuss ideas on how The Dubai Loyal can contribute and help our Rangers through this administration period.

It is vitally important that we get as many people there as possible in order to agree the way forward

Please set aside an hour or so on Saturday to come to the club as YOU are also part of this and we ALL need your support.

Many thanks and I look forward to seeing you all at 2.30pm on Saturday.

WATP

Jim

 

Minutes of the launch of the Fighting Fund

Sandy Jardine welcomed all and introduced the top table of:

Himself
Jim Hannah
Ian Durrant
Kenny McDowall
Andrew McCormack

Durrant and McDowall were there representing the management team.
McCormack, a chartered accountant (and Rangers fan), has been advising the group over the last few weeks.

Ally McCoist and Walter Smith are fully behind the initiative, McCoist being the driving force – he was lauded by Jardine for his sterling efforts.

Meeting was arranged to ensure that Rangers survive until a new owner is found. It was not about apportioning blame to anyone for the mess we find ourselves in.

Players salaries needed addressed as they made up 72% of the clubs output – this delayed the date of the meeting.

Jim Hannah explained how the initiative was going to be implemented and how payment can be made.

Payment is to be made into the Assembly bank account via any bank in the UK, or PayPal. It was noted that PayPal services may incur a charge.

Information relayed would be honest and upfront. Daily updates of finances will be available on the Assembly Facebook page.

Monies are to be used for any shortfall in the weekly running of the club.

Money is to be micro-managed and the administrators need to ask the group committee for cash before it gets released.

Group committee through correspondence with fans group members to decide on what any excess monies accrued are to be used for when we emerge from Administration.

An appeal for new initiatives from fans was made. Respond through your group representative or e-mail Jim Hannah with your suggestion.

A proposal was made whether to ask Hamburg or Portsmouth to a benefit game at Ibrox. Following a show of hands it was decided that Hamburg would be the opponents. JH advised that he had been working behind the scenes and that Hamburg have agreed to play for their expenses only, relinquishing their match fee.

43,000 Union Flags have been purchased to be sold at £2 a go for the forthcoming Bheast game.

Andrew McCormack advised that all monies raised will go towards the running costs of the club; none of it will be used on legal or administrators fees.

The group will speak to administrators every Friday to get a financial update.

He advised that Craig Whyte will leave the club with nothing. This was also the opinion of the administrators.

Duff and Phelps are legally obliged to provide financial statements at the end of their term. Every penny in and out of the club during their administration must be accounted for.

Q & A Session.

SJ – buying products from the club shop sees a percentage of the cash going to JJB. It’s better if all the cash goes to the club.

AM – Martin Bain’s £600,000 is still frozen.

AM – Any new owner of the club will start with a clean slate; No Azure, No JJB etc.

AM – Season Ticket cash for next season cannot be used by the administrators as it is next seasons money. This gets put aside into what is called a ‘trust account’. In effect it’s ring-fenced.

Offer from one supporters club to assist on painting, cleaning up etc of the stadium. SJ welcomed this and other such offers.

Red and Black scarf campaign has raised £11k – JH & SJ thought it a strange choice of colour. The RST member disagreed.

One Supporters club stated that clubs should hold functions to raise cash, signed shirt auctions etc – this was agreed by all.

SJ- SPL can take cash from our share of monies accrued from league position at the end of the season to pay what we owe to other member clubs.

SJ – Cut off point to prevent a 10 point penalty for next season is last game of the season, usually the cup final.

SJ – John Grieg wants to come back to the club and hopes to when everything has settled down.

JH – Donald Findlay has been advising and will continue to advise on legal matters, offering his services for free.

SJ & AM – It’s unknown what the current debt is.

Saverangers.com campaign suspended to avoid confusion and to focus on the Fighting Fund. The emphasis is getting the cash in now..

Bobby Roddie (Association, I think) stated that no expenses have been or will be taken by anyone on the RRFG.

Discussion on boycotting away fixtures, received mixed responses.

Arsenal Supporters Trust sending letters to their supporters clubs asking them to assist us in our plight.

The possibility of showing away games on beam-back at Ibrox was suggested, with a flute band on at half time. SJ – SPL take 20% of any income, and any games in the past have shown just a small profit.

Request made to use some of the cash to hire a quality PR that’s going to defend the club, with point being made that Media House were hopeless.

Show of hands asked for to determine agreement on the RFFG as the way ahead. Unanimous result in favour returned.

Future ownership was raised – we’ve been left with a void to fill. Gordon Smith and Ai Russell have been removed, and we’ve had the situation of having no Directors representing the club at our away fixtures.

SJ said that there were 7 interested buyers on Friday, but after a talking with admin said that this was flushed down to just the 3.

SJ asked if any of those attending would like to join the RFFG – 4 volunteers were welcomed by SJ, they then introduced themselves to the meeting.

Minutes of the meeting not to be issued on the web until press release from the RFFG early in the coming week. This was to try and ensure that everyone is on board and singing from the same hymn sheet by the time of the release.

Another meeting will be scheduled for a month’s time with updates on progress given in between.

A vote of thanks was given to the top table for their efforts and the meeting was closed.

Football is a bit of an aside these days – but in addition to the meeting on Saturday, there will be a game, with The Champions away to Dundee United. The match kicks-off at 4.45pm and will be shown live in Centre Circle.  We will also be taking some group photographs with the new club banner, shown above, which will be sent to Rangers to show our support.

 

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Posted March 12, 2012 by Andy Mac in Club News

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