Rangers drop Jim Ratcliffe bombshell as Alastair Johnston reveals club’s exploring joining multi-club gang
Rangers director Alastair Johnston says new Ibrox chief exec Patrick Stewart’s first task will be to explore the possibility of striking up multi-club partnerships with rivals abroad.
The former Gers chairman made the revelation as the Light Blues’ beleaguered board faced down shareholders at their AGM. The US-based sports management expert suggested the Glasgow giants could be set to follow the likes of Manchester City, who have tie ups with a several clubs across the globe aimed at maximising profits from the recruitment, development and sale of players.
It’s a route both Hearts and Hibs are currently investigating too after sealing agreements with the owners of English Premier League outfits Brighton and Bournemouth. Now Johnston claims Rangers could also be open to the possibility after being briefed by the bosses of recent Europa League foes OGC Nice, who are now part of the same INEOS stable as Manchester United.
Former Old Trafford chief Stewart will start his new Ibrox gig on December 16 - and Johnston hopes he can offer advice on the next step forward. Speaking to around 1800 fans at the shareholder summit, he said: “We were in Nice last week. I had lunch along with several of my friends, fellow directors and officers.
“And the owner there was Jim Ratcliffe who, through his company. has authority of Manchester United. But he basically owns everything else. We're looking right now at different issues as to whether or not club formations can be a pathway for us.
“For example, everybody knows Manchester City's got clubs under its umbrella. I think that's one we may be looking at more carefully. In terms of the new CEO coming in from Manchester United, I would look for him to provide a lot of advice in that regard, and how we basically improve our bottom line by collaborating.”
That news raised eyebrows among fans at the Clyde Auditorium. But even that did not come close to matching the shock that filled the room as finance chief James Taylor confirmed the club had banked a measly £800,000 for the summer sales of Todd Cantwell, Scott Wright, Sam Lammers, Connor Goldson and Robby McCrorie.
The figure appeared in this year’s annual accounts - but some supporters assumed it was a typo. However, there were gasps as Taylor admitted: “Yes, confirmed. £800,000 is indeed the number.
“In terms of the player trading model, it’s not been working. It’s not been working for a number of years. That isn’t a new problem for this football club. It’s an on-going problem that we need to address and we need to take a different view on.
“Historically, the player acquisition strategy is very different to what’s been looked at last summer. And certainly yes there was an intention to reduce the wage bill but again, when you look at a player trading model, typically you are looking 12, 18, 24 months out from the investment when you see the outcome. So what we’re seeing now is the continued challenges of decisions made 12, 18, 24 months ago.
"There is no guarantee of success with transfers but what we can do is stick to principles and look to enhance the value of the squad while at the same time bringing players in at more sustainable levels. Then we give ourselves more opportunity to be able to get that gem and sell that gem and really get the virtuous circle going.”
New technical director Nils Koppen added: “We always go into negotiations looking to get the best possible value - but there are also market realities.”
It’s those kind of decisions, along with the shambolic Copland Road construction project which forced the club to start the new season at Hampden, that have contributed to this season’s failed title bid and placed the board in the firing line. But interim chairman John Gilligan acknowledged the fan fury as he revealed a major shake-up will kick-off with the appointment of a new boardroom boss within the next few weeks.
He said: “There's no doubt it's been a challenging period for the club since we last met We started out with the best of intentions to improve our disabled facilities. I want to again, on behalf of the Board, offer a full apology to you, the supporters, and particularly to the people who have suffered the disruption in the Copland We have been listening to people.
“The directors have recently reviewed the current governance of the company and concluded that the existing board structure should be reconfigured and refreshed. Currently the board is made up entirely of investors who have consistently funded the club over the last 10 years. This structure served the club well in the initial phase of our recovery.
“Rangers is now in a much stronger financial position and this, combined with the current refinancing exercise, means our business model is now sustainable. Our board structure should now reflect this with a strong role for independent, non-shareholder, non-executive and more representation from our executive team. A new, independent, non-executive chair will be announced shortly with the brief to reconfigure the board to include two further independent non-executive directors.”
