With the timing of a serial List MSP Murdo Fraser managed to put a fresh focus on the relationship between the 9-year-old club at Ibrox and the SNP Government.
According to Fraser there is open hostility to the club that postponed VAT payments last year after posting losses of £15.9m despite an increase in turnover to £59m.
Those two figures ought to alarm any fan or shareholder but not the List MSP who has put his name to an opinion piece straight out of the Follow Follow Big Book of Paranoia.
Any responsible lender would body-swerve those sort of figures, high risk lenders would apply a very high rate of interest plus bricks and mortar security to any loan facility.
Incredibly the SNP Government has provided a 20 year interest free loan, one that has allowed the club to add John Lundstram and Fashion Sakala to their wage bill.
Fraser’s Fantasy appeared in Wednesday’s Scotsman, today the BBC website revealed the terms and conditions attached to the interest free Scottish Government loans.
Quarterly financial reports are also being issued to ministers by the clubs.
The first repayments are due in September next year but the loan agreements, released to BBC Scotland under freedom of information laws, show the Scottish government can delay this if requested by the clubs.
Any “threatened change in the financial position” is expected to be reported to Scottish ministers immediately and in the event of any club with a loan going into administration, the unpaid money is expected to be paid back with interest.
The conditions affect senior management and directors of the football clubs but not coaching staff. Rangers have borrowed the most from the Scottish government’s Premiership Division Support Fund.
Quarterly financial statements are required in order that the Government can monitor cash flow. Crucially no director loans can be repaid with Dave King scheduled to have a £5m loan repaid by the end of October 2021. If King is repaid then the £3.2m loan is also due to be repaid.
Fraser has returned the focus onto the Ibrox finances, discovering £8.2m by the end of October will be a tough exercise for the company that hasn’t received a seven figure transfer fee since Josh Windass left for the bright lights of Wigan.
It would appear that Murdo Fraser has shown his incredible ability to time his interventions impeccably again.
— Michael Stewart (@mstewart_23) August 6, 2021
They have no policies so they have to reduce the debate to this level. pic.twitter.com/W2nYwOy2AE
— D (@woodycrombie) August 6, 2021
According to him, anti Rangers folk went after the Administrators! And here’s me thinking it was because the bluenoses thought they weren’t seen as real Rangers men so had to be chased. Chased by the likes of this character. pic.twitter.com/Lq8t6tnMGU
— Just one more thing (@johnjh67) August 6, 2021
Scottish Tories and DUP are now joined at the hip unfortunately.
— LombardiaNumeroQuattro (@Lothianno4) August 6, 2021
Mo Johnston was welcomed with open arms??
— John Fegan (@johncuts68) August 6, 2021
With attitudes like this prevalent in the higher echelons of Scottish society there will always be racial and anti Catholic discrimination. Fraser lauds a racist club for employing a Catholic and a Black as though it were exceptional! A shameful inaccurate article.
— Tony S (@TonyLbs119) August 6, 2021
Do you really not see what is happening? This information has been known for almost two months (if not longer). The Scottish Govt announced it on 23 June https://t.co/dGglZPuOKM
Why is this being pushed now? Why does the headline in the Record state “SNP govt” not “Scottish/
— Gerard McMahon (@gerardmcmahon86) August 6, 2021
/Government”?
This is clearly in response to the Fraser article (which was embarrassing).
It’s all politics and is aimed at undermining the points made by Fraser while also reassuring SNP supporting Rangers fans that the SNP doesn’t have it in for their club.
— Gerard McMahon (@gerardmcmahon86) August 6, 2021
Rangers trash the city centre twice and murdo plays the victim card.
— lawman (@Jimmilaw) August 6, 2021
Murdo knows his audience and is deliberately stoking up tensions while he sits back and enjoys an increased amount of votes from gullibillies
— Jon Quixote (@DonQuixote1888) August 6, 2021
Murdo frasers rant in the scotsman is childish but dangerous
Stirring up religious hatred is not new in Scotland
But for an elected polotician (even a list MSP)
to blatantly use it as a reason as to how people should vote
should really be a matter for the police— culinary cretin (@UFB71367507) August 6, 2021