I find all of this Rangers First business to be rather unfortunate.
Moreover, I must confess dear reader that I am at something of a loss, but then so is Sevco.
A loss that is…
I think the chap that can clear up all of this confusion is Mr. Paul Murray.
He is a successful businessman in his own right and a Real Rangers Man.
I understand that he took part in two meetings involving people from Rangers First.
Of course, if my information is wrong on this I would be happy to print a retraction and offer my apologies to Mr. Murray (Real Rangers Man).
However, here is my understanding of what happened:
There were two meetings between representatives of Rangers First and the Holding Company Vehicle.
On the second of these conclaves, Mr. David Cunningham King joined them by conference call.
No doubt his disembodied voice almost certainly lent gravitas and dignity to the proceedings.
Now it is at this part of the story that I get completely confused, and hopefully, I can be put right on this.
My understanding is that the Rangers First people thought they had a promise from Mr. David Cunningham King that he would match their unsecured loan to the Holding Company Vehicle.
Indeed, it is also my understanding that one of the Rangers First chaps asked for this in writing.
Now, this is where I am utterly puzzled dear reader.
I am further led to believe that Mr. Paul Murray (Real Rangers Man) did indeed furnish such a comforting missive and that this is now in the possession of the leadership of Rangers First.
The reason for my puzzlement is that all of this is totally at variance with the club statement.
I am sure that the chap who penned this communique (peace be upon him) is doing his best.
However, it is sometimes difficult to come up to the required Level when you’re trying to keep pace with fast-moving events.
I am informed that the Rangers First people asked very pertinent questions at these meetings.
One person at the gathering pointed out that the current Ibrox operation was a loss making business without any facility from a bank.
Chapeau!
It would appear that I am not the only one to be confused by all of this.
A director of Rangers First has resigned, although the reason for this departure has not been made public.
Mr. Bowman, a founder member of the organisation, clearly has his misgivings.
Even the amount of the putative loan is something of a mystery.
My, clearly befuddled, understanding is that the Holding Company Vehicle thought that they could access between £1.5-£2m from Rangers First.
Therefore, they were surprised when only £500k was offered.
Given that the Holding Company Vehicle already has a generous facility of £6.5m then I am surprised that they would need such assistance from the Rangers First folk.
All very confusing.
Perhaps someone can clear all this up for me.
