Wednesday, April 30, 2014

Ally McCoist: The man who led the charge on the £67m?

For a man who claims not to be aware of much, there are no flies on Ally McCoist when it comes to trousering a bob or two. After his public pronouncements in the last few days, it's worth noting the facts before making a judgement on Ally and some questions that need answered.

It was the end of December 2012, days after the IPO, that Ally appears made his first grab for the cash. Prior to that in June 2012, and after discussion with Charles Green, he took a reduction in salary to £600k, he tuped over, therefore was entitled to the £750k, but being the good guy that he is, ended up happy with a million shares (expected to trade between £1.20 and £1.50 at IPO time), and a reduction to 600k. 

Remembering that the shares were offered to get Ally onside so as to ensure season books were viable. 
Sevco fans that followed Ally's recommendation were blissfully unaware of his deep pockets being filled.

So, for a guy who just signs whatever is put in front of him, he then performed another tactic.  He got his agent to raise an instruction for immediate reinstatement to the £750k level PLUS all previous reductions paid back to him in a lump sum.  So another 6 months arrears were paid out as well as his salary whacked up. 

Not bad for a confirmed 4th tier manager eh?

Looks like the first to make a move for the IPO money from inside the club.

His agent of the time, Andrew McCormick of m.a.d. sports management, a company which initially consisted of McCormick, McCoist and Ian Durrant.

Whilst Durrant had resigned as a director a few years ago, it appears McCoist kept on his 1/3 share with McCormick having the 2/3 part.  It is know that tip off to Craig Whyte to watch out, McCormick was chasing him for the signing on fees relating to Naismith.  

Charles Green then restated that McCoist was fully aware of all financial details relating to his signings, and played an active part in this. 

Were there secret discussions between the other directors (not Charles Green) which suggested binning McCoist in favour of a young up and coming Scottish manager (name never proposed) but with a salary not exceeding £250k? On that matter, that was Kenny McDowall's salary after tupe over to Sevco, with Durrant on half that level of McDowall.

It is believed that Charles Green and the board rubber stamped his payment of arrears, because it was all done verbally. Therefore Ally always had a contract showing £750k.

Not only that, but did the request for arrears also highlight that McCoist specifically asked for his salary to be reduced to £200k but with undisclosed guaranteed bonuses so that his true salary could be hidden from the fans?

Could some creative accounting mean that supporters couldn't be sure of his salary as the IPO only stated a payment amount covering a short period?

I'm sure Ally will be aware of the answers.

Wednesday, April 16, 2014

Rangers weren't the only ones to issue side letters

So you all know about the five way agreement that allowed Sevco to join the Scottish Football League? As scandalous as that was, above is the secret side letter that Neil Doncaster gave to Sevco to assure them they had nothing to worry about then or in the future.

The huge emphasis put on the contents being kept private was all from Doncaster and make his utterances about a "full and frank investigation" into the EBT scheme by the SPL seem pretty hollow given he is guilty of a very similar way of business.

Neil is a master at talking plenty but saying very little normally but he seems quite clear here that Sevco under no circumstances were to disclose the contents of the letter unless required to by law.

Except how would they be required to by law if no one knew about it?

One for you to answer, Neil.

Friday, April 11, 2014

When the SPL ratified Sevco as a new club

It seems ridiculous to have write a blog to prove the status of Sevco as a new club given that anyone not hard of thinking knows they are but needs must.

Obtained from a source within Sevco, above is the correspondence sent by Duff and Phelps to Iain Blair on July 27th 2012 to confirm the status that it would be Sevco that were playing Brechin City in the first ever game of the Newco.

Look at the paragraph after the list of players names (actually some had gone by then)

Note the specific request to the SPL board re D1.16.

The relevant extract from above is:

"D1.16 A Registered Player must not, except with the prior consent of the Board and the Club to which he is Registered, play Football for any other Football club in any competition or except with the prior consent of the Club to which he is Registered, train with such other Football Club."

Neil Doncaster and the SPL board approved this request the same day.

A clear line was drawn that Sevco is indeed another club, clearly different from Rangers Oldco.

Permission granted via an explicitly defined rule above, leaves it open to no further debate - Sevco are a different club from that established 140 years earlier.

For the record, the game in question versus Brechin in the Challenge Cup is listed on the Official Rangers website, yet the game was played by Sevco Scotland Ltd.

If it was the same club, there was no need to request permission for the listed players to play for ANOTHER club.  Those players never transferred back either, meaning that they continued to be registered under the new club.

All of this was done prior to the IPO in Dec 2012, therefore any such notion or reference to the same club by anyone at Rangers/SPL/SFA would see them on shaky ground given they knew it not to be true.

I'd hazard a guess that The SFO/AIM Market may be most interested, especially if the IPO makes reference to the same club/history carrying over.

Quite clearly, behind the scenes and in secret, the SPL/Rangers Oldco and Sevco/D&P all knew about the players being transferred from one club to another.

I wonder what the  'institutional investors' think of this?

As for us? This merely confirms what we always knew.

Wednesday, April 9, 2014

Lights, Camera, Action.

The main filming of The Asterisk Years documentary began this week.  There had been little pockets of filming here and there but this is the stuff that's on a clock and costs money. It meant the usual pre-match tension was around on Sunday as worries about weather, locations and any other kind of potential obstacle were never far from the mind.

An early start on Monday, Tuesday and Wednesday was called for as was a veil of secrecy not to mention one eye on any potential troublesome passers by. We don't have the budget for security teams and trailers therefore it required a hardy band to do six jobs each whilst the professional Director of Photography got on with the job of filming what needed to be filmed.

A lot of this has to be done against a backdrop of threats, sniping and criticism and it is important to keep everyone happy and creative throughout. Added to the fact that we have the sort of budget that Kevin Smith would sneer at so tension can occasionally be high.

With that being said, it was really good week, save for one train cancellation derailing an interviewee, and the producer seems happy. Said producer is the brain behind this project. He is the guy with a wealth of documentary experience behind him and his advice, cajoling and talent are a major part of why we are where we are right now.

Similarly, the company we hired to the filming and sound are relatively new kids on the block but when you're doing a film that in part deals with certain people getting countless opportunities whilst are others are denied them constantly, it wouldn't seem right not hand out an opportunity when we can. Thankfully our faith was rewarded as the stuff that was filmed captured the exact look we wanted.

Clearly we have had to keep things pretty confidential and not disclose things like locations and the like but we have no problems disclosing the next one which is Celtic Park on Sun April 27th.

Full details can be found here

In the meantime, we crossed three huge hurdles this week.

There are three more to go.

The fact that we are halfway there, is down to you.

Wednesday, April 2, 2014

Lunny green lights a deluge

The message that comes out of the SFA, after the farcical carpeting of Leigh Griffiths for singing in a pub, is not just conformation of bias against Celtic nor the hypocrisy of the many other incidents, perpetrated by the likes of Andy Goram and Hearts, that went unpunished: No. What the SFA told yesterday is that YouTube footage is now taken as hard evidence.

Vincent Lunny just opened a huge can of worms.

Quite what jurisdiction the SFA think they have in the Roseburn Bar in Edinburgh is beyond me but they just ensured that anyone with a camera phone is going to take any and every opportunity to get a football player in trouble and that is a huge problem.

We live in an age where a lot of comment is passed about the gap between players and fans being akin to the Grand Canyon, we don't need any more excuses from players not to mix with the punters.

Especially when you look at the videos that show the impact players can have on the likes of young Jay Beatty.

That's the beauty of football that clubs very rarely understand but have such a huge impact on our lives.

We need more, much, much more.

In terms of Griffiths himself, I knew the club wouldn't be happy but I am glad that they filed it under "Daft Boy" and moved on.

As for Vincent Lunny? I hope he has plenty email storage.