Sir David Murray
Mr. Craig Whyte
Mr. Paul Murray
Mr. Bill Ng
Mr. Bill Miller
Mr Charles Green,
c/o The Rangers*,
150 Edmiston Drive,
Glasgow G51 2XD
142 Copland Road,
Glasgow G51 2UB:
Dear Mr. Bhutta,
Permit me to introduce myself. My name is Charles Green. Some people call me ‘Emerald’.
I am a colourful businessman who has been a director of no fewer than fifteen companies which have gone into liquidation. My latest project is a football club called Rangers FC (in Administration) which I am hoping to gut and fillet in the coming weeks.
You may be aware that the Administrators of that football club, a firm called Duff and Phelps, are anxious to drag out the administration process for as long as possible because they are raking in a couple of hundred thousand pounds every week for as long as the money lasts. Who could blame them, eh? I’d do the same myself, given half a chance.
Speaking of me, it turns out that I am the latest one to have been offered the opportunity to buy Rangers FC (in Administration). My predecessor, an American chap called Mr. Bill ‘Liam’ Miller, had a quick look at the bookwork and, by all accounts, took suddenly ill. I, however, am made of sterner stuff, (not least because I’m English). Moreover, having been involved in fifteen liquidations myself, I can safely say that I’m quite an old hand at ignoring toxic debt. After the game against St. Johnstone on Sunday I had a quick butcher’s at the Orcs’ accounts and I have to say that of all the liquidations which I’ve been involved in, this one takes the biscuit! (As one businessman to another, let me just give you a quick tip – don’t give these people any credit or you’ll regret it. Make sure you get cash up front or no deal.)
Which brings me neatly, I feel, to the matter at hand. Looking at their accounts, I couldn’t help but notice a list of 277 creditors who are owed a total which is not far off £134,000,000. One of these creditors is your good self. You are still owed the sum of £567.45, although it’s so long overdue that you may well have forgotten all about it.
Incidentally, it did strike me that at the very least I might write a letter of apology to you expressing the club’s deep sorrow and acute embarrassment at this state of affairs. However, I was dissuaded from following this course of action by a geezer called Sandy Something-or-other. He seems to be well thought of in some quarters and he assures me that this is not the Rangers Way. Apparently it does not do for Rangers to show any signs of remorse or regret. I might say that this strikes me as odd but I must also concede that, as an Englishman, I am fairly unfamiliar with the customs and traditions of your fine country which I had rarely visited until this week. Indeed, I had never even heard of Rangers until they made the UK news headlines during their visit to Manchester in 2008. (Something to do with a broken television, was it? I think Chelsea were involved too? I can’t really remember the details.)
Anyway, Sandy says there’s to be no apology, that Rangers don’t show weakness, that you should consider yourself honoured to be a Rangers creditor and that you’ll be remembered as one of the bastards who stuck the boot in once the ‘Gers are back on top.
Would I dare to fly in the face of such sound advice on cultural manners from a local man? No chance. So. Up yours, it is, Mr. Bhutta.
That brings me to my next point. You’ve probably heard some talk about a CVA proposal. No doubt you will be too busy selling newspapers to have given the matter much thought. Let me give you a quick guide to what’s going to happen. If you saw the unfortunate headlines in some of today’s newspapers you may have gained the impression that I am spearheading a consortium of about twenty extremely wealthy partners who intend to pour vast sums of money into the club’s Warchest™ in the near future. This may have had the unintended side-effect of raising your hopes that you may finally see your £567.45 one day. Sadly, nothing could be further from the truth. Those millions upon millions of pounds which my partners are going to invest are not for the likes of you, I’m afraid. That money is for Ally to spend on buying over-priced, over-paid, under-achieving no-marks for the Rangers first team of the future.
I may be new to this country but I’ve already done a bit of homework. Apparently, there is a newspaper called ‘The Scotsman’, which nobody ever reads these days. However, it was pointed out to me that its leader column just a few days ago stated that Scotland needs Rangers. I see no reason to doubt a newspaper which has been losing thousands of readers every month for many, many years now. It must know a thing or two about what Scotland needs. And it says that Scotland needs Rangers. Does it say that Scotland needs customers to pay their debts and settle their bills in full? No, it says that Scotland needs Rangers. So that settles that.
This means that instead of £567.45, the best you can hope for is £17.02, which is 3p in the pound. Frankly, I think you should be very grateful that you’re being offered that much.
Personally, I am tremendously excited about the future possibilities of this approach to business, if it succeeds. As a businessman yourself, I am sure you can appreciate the enormous cost-saving benefits of a scheme which reduces expenditure by 97%! Holy smoke, if I could have got away with only paying 3% of my bills in the past, I might never have had any liquidations at all, let alone fifteen of the buggers!
Now. In case you’re tempted not to accept this generous offer, let me just invite you to contemplate another very important consideration.
A man called Ally is thought to be very keen to have full transparency on the matter of the names and addresses of the creditors who endanger the future well-being of The Rangers (in Administration) by rejecting the CVA proposal.
Let’s look at it this way. That’s a nice business you’ve got there, Mr Bhutta. Sure would be a shame if anything were to happen to it, if you get my meaning. Of course, if you accept the CVA proposal of a measly three pence in the pound, you’ll probably not have to worry about that. You seem like a smart kind of guy. I really wouldn’t want to see you get on the wrong side of one of the notorious ‘small minorities’ who attach themselves in their thousands to Ally’s team. (No, not Chelsea; his other team.) You want to take my advice and do the sensible thing just in case things in the future get a little ‘transparent’. If you catch my drift.
If you bear in mind that the £550.43 which you’ll never see will play its part in encouraging almost two dozen multi-millionaires to pour millions of pounds into wages for Rangers bench-warmers next season then you will have some considerable consolation for having been ripped off. Alternatively, you should look at your £567.45 in a different perspective. Paul Clark makes more than that just by twiddling his thumbs for an hour. You’re in the wrong game, sunshine. Administration is where it’s at.
I have taken the liberty of enclosing a Rangers (in Administration) season ticket application form with this letter so that you can enjoy the Rangers experience next season. You may also want to be the first among your friends to buy the classic Sheffield United home kit from the 2006-2007 season so I’m sending you a catalogue for the Blades mail order service as well.
Sheffield United Rangers,
Charlie “Emerald” Green.
15 and counting.
P.S. These are very troubled times for The Rangers so I am sure you will understand why I found it necessary to send this letter to you without putting a stamp on the envelope.
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.
Sir Isaac Newton told us why
An apple falls down from the sky
And from this fact it’s very plain
That other objects do the same…
If it was up to the courts to rule on the Laws of Gravity, we’d probably spend years hearing legal arguments that an apple falls from the ground up to the tree.
Up until recently I thought that I was more or less keeping in touch with the general shape of the developments as Rangers FC heads into perdition as a well-deserved consequence of the scandalous running of the club for at least the last twenty years. The charge sheet includes three separate instances of tax fraud which could total nearly one hundred million pounds in unpaid monies to the Treasury. It also includes routinely running up a preposterous level of debt with no serious prospects of repaying it other than by adding it to the already over-extended overdraft of Murray International Holdings, a liability which eventually exceeded one billion pounds and played its part in the collapse of the Bank of Scotland and its subsequent bail-out, funded by the UK tax-payers. We’re looking at one of the biggest corporate scandals in Scottish business history. One would be forgiven for expecting jail sentences to have been handed down to the guilty parties long before now.
And yet I’m beginning to feel that this whole case is becoming too Pythonesque to make any sense. The latest bizarre twist is the surreal sight of the Administrators of Rangers FC applying to the Court of Session to be appointed … the Administrators of Rangers!
It’s particularly frustrating to me that there seems to be very little overlap between easily understood, natural justice and the immensely complicated procedures of the Law.
Tens, if not hundreds, of millions of pounds have been ripped off by various parties involved with Rangers FC and MIH and it looks increasingly likely that those responsible for these scams are still in with a shout of getting something out of it, even if Rangers itself goes down the pan.
Every time that it looks as if anyone is going to get their comeuppance, another bizarre legal wheeze appears out of thin air, in defiance of all common sense, which muddies the waters and makes it appear that there is always a possible escape route for the shameless and the dishonourable. Amidst the carnage of the revelations about how Rangers FC has been conducting its business, one of the club’s former directors is still proposing that he will play a leading role in taking the wreckage for which he is partly responsible and turning it into a successful business after it has been liquidated. There has not been one word from Mr Paul Murray about his moral duty to repay the colossal debts which the club ran up under his stewardship; not a single syllable to suggest that he feels the slightest shame about his part in the reckless business practice of the directors’ board of which he was a member. No repentance, no remorse, no sign of a guilty conscience.
I have got more money than the likes of David Murray, who was knighted for services to business. Unlike Sir David, I am not in debt to the tune of six hundred million pounds. Yet he is the one who is still living like a king. An entire bank went to the wall to enable that man to enjoy the luxurious lifestyle to which he has accustomed himself. And he’s not even in the picture yet, as far as the Law is concerned!
The Law is taking an eternity to get its act together. Somehow, when tasked with a case in which somebody pursues his own objectives by spending hundreds of millions of pounds of other people’s money, m’learned friends spend months and years dragging out a tortuously slow series of procedures. They forensically examine every conceivable interpretation of every obscure contention. It is as if their primary objective is to find the route by which the most blatant wrongdoing can turn out to be perfectly legal. And to charge by the hour as they proceed at a glacial pace.
Now, for the first time, I’m genuinely beginning to fear that a fix is in whereby there will once again be no punishment for the villains of the piece while the decent, honest little guys will be the only victims (cf bonuses for bankers).
Something stinks very badly here. The media, on an industrial scale, have relentlessly covered up as much of the criminality as they possibly could, even after much of it was already public knowledge. They have weakly claimed in their defence that libel laws prevented them from publishing known facts about the affairs of Rangers and its various directors, even when these facts were already matters of public record.
To take but one example: it would clearly be in the public interest for journalists to regularly scrutinise the ongoing, chaotic tax affairs of Mr. Dave King, Rangers’ second largest shareholder and until very recently a member of the board of directors. The South African Revenue Service is pursuing literally hundreds of charges of tax irregularities against Mr. King and yet I can think of no example of a single journalist asking the obvious question: why has such a man been a senior director of what we are often told is Scotland’s second biggest institution?
This is not an unreasonable question for a decent investigative journalist to ask, nor would it require much research to pad out. Merely to copy half of what has already been published in South African newspapers would raise the question. What is it that prevents the editors of our national newspapers from pursuing this story? Could it be that their experience in their profession tells them that, no matter how grievous the fraud, the Law will usually find a way to give psychopathic predators a free pass so long as they wear suits and ties? And therefore, in their judgement, it is always safer to back rogues who have a place in the Establishment rather than trust in the Law’s ability to ensure that justice is done in major scandals?