Nine days after telling the Alternative Investment Market that all was well current chief executive Craig Mathers issued a lengthy club statement slamming the Ibrox rebels claiming that they have no business plan and are only after a boardroom seat and blazer.
Accompanying that spin doctor Jack Irvine took to twitter to question the wealth of Carmunock based billionaire Jim McColl.
Irvine, who worked closely with Motherwell born billionaire Craig Whyte, tweeted to Douglas Fraser of the BBC: “Douglas, have you seen The Bulls**t Billionaire’s business plan? No? That’s funny, neither have Rangers.”
Adding later in the conversation: “He is a billionaire in his own mind and that’s all that matters.”
Paul Murray, no relation to former owner Davey, former chairman Mally, or former chief scout Iainy, was targeted in Mather’s statement and took to Radio Scotland to defend the stance of his fellow rebels.
Paul was a director of Rangers (IL) up until Whyte took over, happily signing off the club accounts that eventually left shareholders pennyless, but feels qualified to warn that the new club is heading down a similar path.
“This is a board in the last 12 months who have lost one chief executive and two chairmen including Walter Smith,” rebel Paul explained.
“By their own admission they’ve raised about £60m and by their own admission there’s only £10m left.
“And we have a finance director in the shape of Brian Stockbridge videoing the chairman Malcolm Murray whilst drunk and that tape arriving on YouTube.
“You can see why the investors who put £17m in are concerned.
“Quite frankly, there’s more corporate governance and financial transparency in my golf club than there is at Rangers.”
Murray added: “People like Frank Blin and Jim McColl don’t go into things without plans. What’s clear is the current plan can’t continue. They will run out of money.
“And the investors who did put money up won’t put up more because they’ve lost confidence in the board.
“Our plan is to rebuild the board, we’ve said the chief exec and finance director should step down. We’ll replace them with interim appointments and then set about a proper permanent solution.
“Then we will present a business plan to investors, who have said they would back us with more capital.”
Yesterday former convict Sandy Easdale was confirmed as a new director at Ibrox.
Having announced that that an AGM will be held by October 31 the club is obliged to publish their audited accounts by the end of September.
Finding an accountancy firm willing to risk their reputation on declaring the club as a going concern over the next 12 months might be harder than finding a billionaire in Carmunock or Motherwell.