What is going on at Ibrox


By Graham Barnstaple
October 18 2011

Things are getting really odd at Ibrox, directors resign, more cash held and they ban the BBC

All sorts of strange things have been going on at Ibrox this week and it started yesterday morning with the resignation from the board of John Greig and John McClelland.

 

This was down not being involved in any “corporate governance” since new owner  Craig Whyte took over. This would appear to show that Whyte has truly been the new broom sweeping clean after taking over from David Murray.

 

On the other hand it could be the old board are now distancing themselves from any future financial disasters! This means they can claim it is not their fault.

 

Then today former Finance Director Donald McIntyre had £300000 of the club’s assets frozen ahead of any claim he may make for breach of contract. This is the third time they have had assets frozen with Martin Bain and HMRC already having cash held.

 

This was followed today by the club removing co-operation from the BBC ahead of a documentary on the club’s finances due to be shown on Friday. This was meant to be as a result of “repeated difficulties”, they also claimed that the documentary, to be aired on Thursday, was a "prejudiced muckraking exercise".

 

They really are getting a bit deeper into the mire at Ibrox, with no real light at the end of the tunnel. The fans at the moment seem to be happy enough as things are going okay on the pitch, but Whyte can expect a backlash if they start losing.

 

He can expect a bigger backlash if next month’s tax hearing goes against them and they have to go into administration. The points deduction would allow Celtic back in the title hunt and open up the race to other side, like the impressive Motherwell.

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What is going on at Ibrox
Discussion started by Flower of Scotland , 18/10/2011 19:18
Flower of Scotland
18/10/2011 19:18
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