After the Deluge.
THE Blue Knights have once again walked away from the bidding process, pausing only to call a surreal press conference in which they presented some sketchy details of their limping dog of a rescue proposal before issuing some veiled threats and indications of future reprisals. To put their risible proposal to rescue Rangers (in administration) in some context, let us remember that they must satisfy creditors who are owed up to £135,000,000 before they can even begin to finance a competitive team. The sum of money that they were prepared to put on the table was less than what Martin O’Neil paid to acquire Neil Lennon from Leicester City in 2000. Fergus McCann spent more in 1994 to save Celtic from a far less parlous condition.
As I see it, the Blue Knights knew themselves that they hadn’t a hope of succeeding. What they were doing instead was keeping themselves visible and attempting to appeal to the core Rangers support, knowing full well that these fans are incapable of understanding the administration procedures at even the most basic level. Using threatening language about Duff and Phelps having “blood on their hands” is designed to evoke a response at the most visceral level from Rangers supporters who are addicted to denial and impelled to blame everyone else for their problems.
The Blue Knights have merely added Duff & Phelps to a list of scapegoats which already includes Craig Whyte, David Murray, HMRC, the SFA, the SPL, Neil Lennon, the Bank of Scotland, Mark Daly, three formerly anonymous SPL judicial tribunal panel members, the Vatican, Alex Thomson, the Republic of Ireland, FC Maribor, Professor Tom Devine, the BBC, Phil Mac Giolla Bhain, the White and Kelly families, UEFA, Jock Stein, the city of Manchester, Dick Advocaat, Chelsea supporters in disguise, Martin O’Neil, the Scottish newspaper industry, Hugh Adam, the Romanian Police Force, Fergus McCann, the RTC blog, faulty giant-screen televisions, Celtic supporters websites, Peter Lawwell, Lloyds Banking Group and Catholic schools.
The cynical nature of this tactic should surprise nobody. It’s the only thing they have to offer. Paul Murray’s record speaks for itself. He joined the Rangers board of directors in 2007. For five years he sat by and allowed the club to run up a level of debt which frightened Lloyds Banking Group into demanding seats on the board to protect itself from further damage. Like Martin Bain and other fellow directors, he was able to make money for himself out of the club while presiding over its terminal decline. That’s too good a gig to abandon without a fight, especially if there isn’t an alternative source of easy money.
Having steered their luxury liner at full speed into an iceberg and having recognised that it’s definitely going to go down, Paul Murray and his cohorts decided to stand on the bridge and curse the elements for a few minutes before leaping heroically into their reserved lifeboat and advising everyone else to follow their example.
Their bid was merely a pantomime which they knew had no chance of being accepted. But it’s given them a public platform to growl the kind of confrontational rhetoric which plays so well with the Rangers die-hards. They plan to be seen as the fans’ choice when the battle begins to claim ownership of Traditional Rangers FC (est. 2015) after all the post-liquidation litigation finally comes to an end. And they are sticking to what has always worked for them in the past – eliciting knee-jerk responses from the mob with defiant rhetoric and posturing rather than attending to the fundamentals of running a sustainable business.
Posted on May 12, 2012, in Uncategorized and tagged administration, board of directors, Brian Kennedy, David Murray, debt, director, Duff and Phelps, liquidation, Lloyds Banking Group, Martin Bain, Paul Murray, Rangers, SFL. Bookmark the permalink. 15 Comments.