Rangers: Ex-director believes support from fans’ consortium is the only ‘practical option’

By STUART BATHGATE
Published on Wednesday 15 February 2012 00:00

PAUL Murray had total confidence in the viability of his plan to take over Rangers when he went public with it last April.

He retains that confidence today, and is certain that the model he proposes is the best way forward for the club. By the same token, he is just as convinced that Craig Whyte is not the right man to be in charge of Rangers.

Borders businessman Murray was a Rangers director when he put forward his plan last year, only to see club owner Sir David Murray opt for Whyte’s offer instead. With Whyte having now placed Rangers in administration, Murray thinks the time could be right for a revival of his plan, provided enough like-minded supporters agree to join him.

“The only practical option is for anyone with an interest in Rangers to come together to form a consortium to buy the club,” Murray told The Scotsman last night. “I would ask Rangers fans, both those who may only have a few pounds to invest and those with far larger sums: Do you want to be a part of that consortium? I was strongly opposed to Craig Whyte at the time of the takeover. My interest is still there. But it’s not about me buying Rangers; it’s about me and other interested parties – as many interested parties as possible.”

At the time of the original proposal last spring, an associate of Murray’s explained that the consortium would welcome anyone of a like mind, but it was not primarily designed to involve a high number of people each of whom put in a small investment. “The plan is to hold a share issue which would be open to everyone, but, crucially, underwritten by a small group of wealthy, well-meaning Rangers fans,” he said then. “It is not a case of looking for a million people to put in £25 a head. We are talking about a small number of credible people who have the club’s best interests at heart.

“This would be an entirely new way of running Rangers. Not just with one single wealthy benefactor. It would be a broader church of people with the financial clout to spread the load.”

That remains Murray’s plan today, one which he is sure can help restore Rangers to a pre-eminent position in Scottish football. He has seen more than enough evidence to become convinced that Whyte is unable to assist in that restoration work.

“For me, the fundamental question that Rangers supporters should ask is: Is Craig Whyte a fit and proper person to run Rangers Football Club?

“His disqualification as a company director was not disclosed in the takeover document. His evidence [in a case involving another of his companies] was described by a judge last week as ‘wholly unreliable’.

“My question is: is this guy fit to be mentioned in Rangers history books in the same breath as Bill Struth, John Greig or Walter Smith?”

Murray became a Rangers director in 2007, long after the actions which have brought the club before a tax tribunal which could result in an HMRC bill for almost £50m. He believes that he and his fellow-directors ran the club well during his time on the board, and contrasts their achievements with what has followed.

“I proposed £25m to go into the club immediately [to help rebuild the playing squad]. I felt the debt at the time was not at an unsustainable level.

“We generated £18m cash in four years. During that time Rangers reached the final of the Uefa Cup and won three titles, so the team were not in that bad a shape. I don’t think you could say that now.”

Murray thinks Whyte’s decision to take over the tax liability from the previous owner was a mistake. And, at least from the point of view of Rangers’ wellbeing, he also thinks that Sir David Murray’s decision to sell to Whyte on the terms offered was also an error.

“It was Sir David Murray’s decision to sell the club to Craig Whyte, albeit under some pressure from the bank.

“My plan may not have been an attractive suggestion as far as David was concerned, but it was viable.

“More importantly, it was also in the greater interest of Rangers Football Club.”

As well as having no confidence in Whyte’s ability to look after Rangers, Murray is just as unconvinced of the wisdom of getting working capital from the London-based firm Ticketus in exchange for revenue from future sales of season tickets.

“Where has the season-ticket money gone?” he asked, referring to the sum in excess of £20m said to have been obtained by that method.

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