Smith fury as bank denies it is in charge - Digital World Cable Satellite Console Forum

Paul-K · 27th October 2009, 13:22

Exclusive By Darryl Broadfoot Rangers No1 fan. Evening Times: News

WALTER SMITH has reacted furiously to the Lloyds Banking Group statement released yesterday that implies the Rangers' manager lied about the bank's control of the club.

The Evening Times understands Smith was apoplectic (I love that word)at the wording of the bank's response to our exclusive revelations yesterday.

They outlined the critical condition of the club, the growing influence of the bank in its affairs and the split that has emerged within the boardroom.

Smith feels he has now been left in an impossible position and conveyed his deep unhappiness to the hierarchy.

Indeed, he is now so fed-up with the internal politics and deception at play he could leave as soon as a new owner is found, even if it means leaving before the end of the season or before his contract ends in January.

He has also received the unanimous support of the fans after Lloyds statement elicited an angry response across fans' websites and phone-ins.

The statement, released last night, included the incendiary phrase: "Given the recent press coverage, we would therefore like to be clear Rangers FC is neither operated nor run by Lloyds Banking Group."

Smith, 61, is so disenchanted with life at Ibrox he felt compelled to speak out publicly after the humiliating 1-1 draw against Hibernian on Saturday.

In a further twist, the Evening Times understands chief executive Martin Bain will not walk away from the club despite growing speculation the bank is keen to remove the man who has steadfastly refused to agree with the swingeing programme of cuts mooted at the last board meeting.

Gordon McKie, the chief executive of the Scottish Rugby Union, has been linked as a possible replacement but if Bain is sacked, he will be followed out the door by Smith and Alastair Johnston, the chairman, in protest at the bank's decision.

This would effectively leave Donald Muir, the Lloyds-employed turnaround specialist appointed to the board, as the man effectively in charge of the club, which is around £30m in debt.

Publication date 27/10/09

HibbyDave · 27th October 2009, 14:54

nara · 27th October 2009, 14:56

I like that!

HibbyDave · 27th October 2009, 17:34

Borrow, borrow, we will borrow millions
anywhere everywhere we will borrow on
dundee hamilton we'd even tap the vatican
if we go to dublin we will borrow on

for theres not a bank like the bank of scotland
no not one and there never shall be one
the bank manager knows all about our troubles
he's waiting for £30m and we cannot give him none
for theres not a bank like the bank of scotland
no not one and there never shall be one

A Loan, A Loan!
We need some money soon

A Loan, A loan!
The bailiffs are coming roon

We're up to our knees in provvy cheques
the interests really high

we're in dire need of a loan!

27th October 2009, 13:22	#1 (permalink)
Paul-K DW Guru +++ Join Date: Oct 2004 Location: The Mint is Skint Posts: 6,060 Downloads: 5 Uploads: 0 Thanks: 56 Thanked 31 Times in 26 Posts Feedback Score: 0 reviews	Smith fury as bank denies it is in charge Exclusive By Darryl Broadfoot Rangers No1 fan. Evening Times: News WALTER SMITH has reacted furiously to the Lloyds Banking Group statement released yesterday that implies the Rangers' manager lied about the bank's control of the club. The Evening Times understands Smith was apoplectic (I love that word)at the wording of the bank's response to our exclusive revelations yesterday. They outlined the critical condition of the club, the growing influence of the bank in its affairs and the split that has emerged within the boardroom. Smith feels he has now been left in an impossible position and conveyed his deep unhappiness to the hierarchy. Indeed, he is now so fed-up with the internal politics and deception at play he could leave as soon as a new owner is found, even if it means leaving before the end of the season or before his contract ends in January. He has also received the unanimous support of the fans after Lloyds statement elicited an angry response across fans' websites and phone-ins. The statement, released last night, included the incendiary phrase: "Given the recent press coverage, we would therefore like to be clear Rangers FC is neither operated nor run by Lloyds Banking Group." Smith, 61, is so disenchanted with life at Ibrox he felt compelled to speak out publicly after the humiliating 1-1 draw against Hibernian on Saturday. In a further twist, the Evening Times understands chief executive Martin Bain will not walk away from the club despite growing speculation the bank is keen to remove the man who has steadfastly refused to agree with the swingeing programme of cuts mooted at the last board meeting. Gordon McKie, the chief executive of the Scottish Rugby Union, has been linked as a possible replacement but if Bain is sacked, he will be followed out the door by Smith and Alastair Johnston, the chairman, in protest at the bank's decision. This would effectively leave Donald Muir, the Lloyds-employed turnaround specialist appointed to the board, as the man effectively in charge of the club, which is around £30m in debt. Publication date 27/10/09
	Quote Post

27th October 2009, 14:54	#2 (permalink)
HibbyDave DW Respected Member ++ Join Date: Apr 2006 Location: Sunshine on Leith Posts: 1,596 Downloads: 1 Uploads: 0 Thanks: 15 Thanked 57 Times in 52 Posts Feedback Score: 0 reviews	Re: Smith fury as bank denies it is in charge __________________ ~ HD ~
	Quote Post

27th October 2009, 14:56	#3 (permalink)
nara DW Elite Master + Join Date: Jan 2002 Location: Wherever Posts: 10,777 Downloads: 0 Uploads: 0 Images: 2 Thanks: 113 Thanked 77 Times in 55 Posts Feedback Score: 0 reviews View My Homepage	Re: Smith fury as bank denies it is in charge I like that!
	Quote Post

27th October 2009, 17:34	#4 (permalink)
HibbyDave DW Respected Member ++ Join Date: Apr 2006 Location: Sunshine on Leith Posts: 1,596 Downloads: 1 Uploads: 0 Thanks: 15 Thanked 57 Times in 52 Posts Feedback Score: 0 reviews	Re: Smith fury as bank denies it is in charge Borrow, borrow, we will borrow millions anywhere everywhere we will borrow on dundee hamilton we'd even tap the vatican if we go to dublin we will borrow on for theres not a bank like the bank of scotland no not one and there never shall be one the bank manager knows all about our troubles he's waiting for £30m and we cannot give him none for theres not a bank like the bank of scotland no not one and there never shall be one A Loan, A Loan! We need some money soon A Loan, A loan! The bailiffs are coming roon We're up to our knees in provvy cheques the interests really high we're in dire need of a loan! __________________ ~ HD ~
	Quote Post

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode