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Rangers Value

Rangers’  plummeting share price has resulted in its value dropping by £16 million in 4 months. The club’s current market value now sits at £19.9 million.

Shares in the club closed at 31p yesterday, dipping as low as 30.4p before close of business. In September, the share price was 55p - 44.5 per cent higher than last night’s figure.

 Fans who bought shares in the club in December 2012 have seen more than 50 per cent of their holding wiped off, as fans were originally offered 70p per share. This is in contrast with Charles Green, who was able to purchase 5 million shares at a price of 1p in October 2012.

http://www.scotsman.com/sport/football/spfl-lower-divisions/rangers-value-drops-by-16-million-in-4-months-1-3263785

Nazi Huns

We are all Spartacus - political football

Celtic come face to face with Spartak in the Champions League.  Moscow is the home of Spartak as well as Dynamo, CSKA, Torpedo-Luzhniki, Lokomotiv and Torpedo-ZIL but historically, the main Moscow grudge derby-match is between Spartak and Dynamo

Sport has always had a political dimension, especially football.

In the early days of Soviet football many government agencies such as the police, army and railroads created their own clubs. So many statesmen saw in the wins of their teams the superiority over the opponents patronizing other teams. Almost all the teams had such kind of patrons such as  CSKA – The Red Army team. Dynamo Moscow were a creation of the Interior Ministry, then essentially a euphemism for the secret police. The de facto founder of Dynamo was Felix Dzerzhinsky, the first head of the OGPU (forerunner to the KGB). Spartak were created as an independent football team, with no affiliations to one or other part of the state machine and considered to be the "people'…

The Capitalist Game

The biggest football story recently has been the financial collapse of  Rangers and now a similar impending fate for Hearts. This is not just a sporting story but involves many of the failings that have been played out in the wider economy. Corporate failure, greed, arrogance, criminality and cheating are included in the list of accusations.

Jock Stein said that “football without fans is nothing”. Capitalist ideology tells us that the consumer is king and that the decisions of millions of consumers decide what production takes place. If companies fail it is because they don’t sell goods or services that people want or at a price they are prepared to pay. There is just enough truth in this to give it the credibility to make it widely accepted. What it leaves out, among other things, is that production also has to make a profit and that indeed this is the main reason any production takes place at all. Given the ownership of the means of production in the hands of only one group of peopl…

As others see us

"Scottish author, Robert Louis Stevenson of Treasure Island fame, penned a novella that many consider to be a foundation stone of modern fiction’s addiction to substances, transformation and death – The Strange Case of Dr. Jekyll and Mr. Hyde. Dr. Jekyll liked to swallow chemicals turning himself into something unpredictable, Mr. Hyde. It’s a good metaphor for the calamity that is tearing Scottish soccer apart.

Think of Scottish soccer as a test tube in Dr. Jekyll’s lab marked with skull and cross bones, WARNING – DO NOT SHAKE! Sitting at the top of the mix is the colors of Irish green and British blue – green is the substance called Glasgow Celtic Football Club bonded to the blue known as Glasgow Rangers Football Club. Mix them up and they can explode but when they sit side by side at rest they produce something called the Old Firm, a successful alliance of opposites that has largely dominated Scottish soccer, economically and culturally, for over a hundred years. The elements th…

Rangers are staring into the abyss

One hundred and forty years of football history has been brought to an end. Rangers, who played their first games in 1872 and have been Scottish champions a record 54 times, will go into liquidation. This is a massive football club that has been ransacked by crooks and their underhanded dealings, clearly over years.

The European Court of Justice ruling in the case of Bosman is authority for the view that professional footballers are workers like anyone else.

PFA Scotland chief executive Fraser Wishart said that Rangers prospective owner Charles Green had a legal obligation to consult the union about his plans. Players will be free to walk away from the club if it goes into liquidation. Equally, they would also be free to accept offers to stay on at Ibrox under the new company which is set to take over Rangers but the choice would be theirs.

Green said that players would be in breach of contract if they opted not to move to his “newco”. Arguing that Transfer of Undertakings (Protectio…

Cashing in on Rangers

Socialists are always fascinated by the ins and outs of high finance  and how the capitalist class and their lackeys take advantage of the system. The Scotsman columnist has an interesting take on insolvent Rangers.

 “Charles Green has 20 investors?”
“Er, no, it’s five or six.”
“But he said he had 20.”
“He seems to have lost 14 or 15 of them since he said it.”
“They’re gone already before we even knew who they were?”
“That’s if they were ever there in the first place.”
“At least his backers are offering HMRC some money…”
“Which the club has to pay them back, with interest.”
“And they’re throwing Ticketus a few quid…”
“And they want that back, too. Apparently 8 per cent on top, thanks very much.”
“Duff and Phelps said his was the best deal for creditors…”
“The best deal for Charles Green more like. And for Duff and Phelps, of course. They’re getting every penny of their multi-million pound fee, which is about 91p in the pound more than the people whose corner they were supposed …

Neither Orange or Green but Red

Even up to the present time, demonstrated by new laws to curtail bigotry and letter bombs mailed to the Celtic manager Neil Lennon and other Catholics, Scotland has been plagued by religious sectarianism. For many Scots "1690" and "1916" have had more resonance than "1314" or "1707". Many blame it on segregated denominational schools, some blame football supporters, the football clubs blame extremists and the extremists blame the Catholic schools, a vicious circle. Catholics make up only 16% of the Scottish population, largely descended from poor Irish immigrants, and still largely working-class. Though overwhelmingly of Irish extraction, even by 1900 most Catholics were Scottish-born. Yet they were still known as "Irish" up until around the Second World War. Despite this Scottish Catholics do not any longer largely define themselves as Irish anymore, but Irish symbolism and allegiances can still be witnessed amongst Celtic or Hibs su…

In the red, Whyte and blue

A "large number" of players at struggling football club Rangers have agreed pay cuts of between 25% to 75% to save the jobs of non-playing staff, administrators have said. It is understood senior players like captain Steven Davis and Scotland internationals Allan McGregor, Steven Naismith and Steven Whittaker have accepted the largest wage cuts.

In a statement, joint administrator Paul Clark said: “The agreement on very substantial wage reductions and voluntary departures from the club represents a major sacrifice by the Rangers players."

Socialist Courier takes this opportunity to clarify why footballers earn so much.

Footballers at least start from the same position as the rest of us: not owning any wealth from which to obtain an unearned income, to obtain what they need to live they have to go out on to the labour market and offer their mental and physical energies for sale. Most professional footballers, working for clubs in the lower divisions or for non-league clubs…

Rangers Blues

The woes of Rangers grows by the day. The insolvency firm Duff and Phelps have set a 48-hour deadline over the sale of the club after cost-cutting talks involving slashing players' salaries to prevent redundancies broke down and are already considering the possibility of liquidation if they cannot reach a deal. They also said Rangers may not be able to fulfil their remaining SPL fixtures without the promise of new income or drastic measures to reduce costs while also confirming Rangers had no chance of competing in Europe next season as they would not be able to submit fully audited accounts by a March 31 deadline. .

Asked if Rangers was in a state to be sold, an administrators source admitted: "There's an awful lot still to be resolved. It is all about who owns what. It doesn't matter whether you are selling a house, or a football club, or a company, you have to know what you're buying."

Scottish Football Association chief executive Stewart Regan has described…

Businesses as usual

Rangers has filed legal papers at the Court of Session to appoint administrators. Rangers awaits a tax tribunal decision over a disputed bill, plus penalties, totalling £49m which the club would be unable to pay.

Celtic has announced a big fall in pre-tax profits for the second half of 2011, profits of only £180,000 compared to a £7m profit at the end of the previous year. Cash from player sales also fell from £13.2m to £3.1m. Bank debt is £7m.
http://www.bbc.co.uk/news/uk-scotland-scotland-business-17009960

And in the east, Hearts still struggle off-field as much as they do on-field. Hearts owner Vladimir Romanov told RIA Novosti on Wednesday that all wage arrears with the debt-stricken Scottish club have been settled (Hearts players have suffered late wages since October), but admitted to an outstanding tax bill that threatens their future. British tax authorities lodged a petition with a Scottish court earlier this week saying Hearts had eight days to settle the bill, reported to be a…

The red white and blue of Larkhall

The Scotsman describes the religious bigotry of the Central Scotland town of Larkhall where the colour green and the connotations lead to vandalism and the only "safe" colours is the red and white and blue of Glasgow Rangers and the Union Jack .

"...historians believe anti-Catholicism to have been greater in mining towns such as Larkhall, where Irish Catholics were used by pit owners to break strikes. So the fuel was as much economic fear as it was cultural dilution of Protestant stock, the idea which found support in sections of the Church of Scotland in the 1920s and 1930s..."

By playing the "orange card" the bosses employed the divide and rule tactic to weaken the Scottish workers and the consequences linger on to this day .

Isn't it time to discover class loyalty rather than loyalty to the crown ?