The club’s annual shareholders meeting took place on the banks of the River Clyde – and the waters weren’t as choppy as predicted.
Rangers switched their AGM venue to the Clyde Auditorium after last year’s was too cramped at their own New Edmiston House – and the Ibrox hierarchy were given plenty of wiggle room.
Despite sitting third in the Scottish Premiership behind Aberdeen and trailing Celtic by 11 points, crashing out of the Champions League at the first hurdle and an almighty construction cock-up that saw them temporarily flit to Hampden for the early part of the season it wasn’t as stormy as had been predicted.
It is often the case but that didn’t mean those who took to the stage, including boss Philippe Clement, weren’t made to feel too hot under the collar. But there were still some fascinating nuggets at the Armadillo. Here’s six takeaways from the annual meeting…
Boardroom shake up
Perhaps the most significant news to come out of the AGM was the fact that the board will be “reconfigured and refreshed”. It will now including non-shareholders and non-executives, having been made up entirely of investors. Asked how the club ensure decisions aren’t made based on personalities at club and instead on process, Gilligan, who will welcome new CEO Patrick Stewart later this month, said: “Every decision made by the board is made in best interests of the club. You can question use of cash and results. I have to admit sometimes it’s not been good enough. But we’re now going to create a board that is Scottish-based that will have much more advice and help from people in west of Scotland.” George Taylor and Julian Wolhardt are both based in the Far East but stood for re-election for one year only. It means all directors will be up for re-election in 2025.
Cash for Cantwell and Co gobsmacks audience
When it was listed in the accounts that Rangers received just £800,000 in combined in fees for Todd Cantwell, Scott Wright, Sam Lammers, Connor Goldson and Robby McCrorie fans thought there had to be some sort of explanation. It turns out there WASN’T. There were gasps all around the Clyde Auditorium when chief financial officer James Taylor confirmed that was in fact the case.
He admitted: “Player trading hasn’t been working for a number of years” and that players must be brought in on “more sustainable” levels. The likelihood is they did receive higher fees but had to pay the players off. Newly-promoted technical director Nils Koppen added: “We always go into talks trying to get best possible deal but we also have to deal with market reality.” Rangers fans could point to some of the cash raised for Celtic fringe men as a counter argument.
A Nice little partnership on the horizon?
This is one that was open to interpretation. Former chairman Alistair Johnston, in a lengthy answer when asked for his take on what’s gone wrong, dropped in the fact he was chewing the fat with some influential figures while in the south of France for Rangers’ Europa League clash with Nice.
He said: “I come from an American sports business where it’s all about entertainment. You don’t have to win. I know there is interest. I was in Nice and had lunch with several friends and directors there and the owner there is Jim Radcliffe. We’re looking at whether club formations can be an option for us. We’ll look for Patrick Stewart to provide advice on that. I want the new chairman and new CEO to look at the big issues. Why do we get such poor media money. Why do club finishing in bottom of EPL get 28 times more than we do?” The obvious conclusion to jump to is Man Utd co-owner Radcliffe’s INEOS which wholly owns FC Lausanne-Sport in the Swiss Super League and boasts a minority interest in Nice. Could Gers become part of a stable?
Steel not happy as true cost of shambles revealed
The Copland Road construction cock-up was always likely to be a hot topic given it’s had such an impact on the Rangers both on and off the park and particularly for fans. First of all, in financial terms, how much did it actually cost? “It runs to six figures and will be in next year’s accounts,” said Gilligan.
It was an inevitability but we had no choice.” Gilligan had earlier apologised on behalf of the club but said the eventual end result was vastly improved facilities for disabled fans that rank among the best in Europe while they will think carefully before committing to similar work in the Broomloan Road stand. Work on the sports bar was also paused while they focused on the Copland so it was a hefty price to pay. But who picked up the tab? Chief financial officer Taylor couldn’t discuss penalty clauses but said the club were exploring all options on project management. “From my perspective the steel was ordered when we were told to order it by our professional advisors,” he says. “Look, it was an ambitious project. Overly ambitious.”
Belgians backed
A question from the floor asked why both Philippe Clement and Nils Koppen, despite bringing in the meagre fees for the aforementioned players, were given new deals when many felt the jury was still out. But Gillian referred to that rinse and repeat of sacking managers that former chairman John Bennett vowed to put a stop to. Gilligan said: “We have history of making decisions under duress mid season. We wanted the manager to have comfort that he had time to bring in younger players. Time will tell if it’s right decision but we stand by it.”
Gilligan’s steady hand
Given the feeling around the club right now it is an unenviable task to address the shareholders and take on the role of club chairman. But Gilligan being that man probably helped in bringing down the temperatures in the Clyde Auditorium. Having been managing director of Tennent’s he is undoubtedly a shrew businessman but it’s his affection for Rangers that allows fans to relate to him. This is a guy who postponed his engagement to his future wife after using the money he had put aside for a ring to watch the Light Blues lift the European Cup Winners’ Cup in their finest hour.
Having seen so many charlatans hold positions of power, fans see Gilligan as one of their own and that can only help. He’s only in interim charge after John Bennett stood down for health reasons but he made sure order was kept. He appealed for calm before the Q&A section, saying: “I understand the mood. If I was sitting where you were I’d be itching to ask a question. You will get total respect from the stage. All I ask is you show the same respect to us,” and in a rousing closing speech said: “All I can say is thank you to supporters. It’s Rangers then, Rangers now, Rangers forever.
