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Scottish Leagues

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Ashley loan comes with conditions

Mike Ashley is prepared to lend Rangers £10m, but his offer comes with conditions that are unacceptable to Rangers fans.   The Union of Fans umbrella group has asked for a demonstration and boycott at tonight's match against Hearts in response.

Rangers reject takeover offer

The Rangers board has rejected a takeover offer from American Robert Sarver who has an interest in the NBA side Phoenix Suns.   The Suns have not done outstandingly well, but Mr Sarver is also a banker.  He is chairman and chief executive of Western Alliance Bancorp.   It is a small bank based in Arizona despite the rather grandiose title, but the shares have gone up 600 per cent in five years.

Dundee United in profit - again

It is not that often that a football club records a profit, and even remarkable when they achieve in four of the last five years.   But that is what Dundee United have done with a profit of £1.218m in the year to June 2014.  These figures do not take into account millions made in the transfer market over the summer.

Three Bears take Rangers stake

The so-called Three Bears consortium has acquired a 16 per cent stake in Rangers, making them the largest shareholders in the club,   The consortium is made up of Scottish businessmen George Letham, Douglas Park and George Turner.   Its involvement offers the club a new way forward without the complications associated with Mike Ashley's attempts to take control.

Shareholders turn down Rangers rights issue

The Rangers board failed to persuade fans to back a rights issue at the annual general meeting, leaving the club face a funding gap in the new year.    The board needed 75 per cent of the votes, but did not even manage a straight majority.  The resolution was rejected by 55.2 per cent.

Chairman David Somers and other board members were heckled and booed by shareholders and fans. Almost 39 per cent of shareholders voted against the reappointment of the chairman.

Hearts rely on fan donations

Hearts are reliant on fan donations of £1.4m a year to keep going.   Given that 8,000 fans are making donations, this works out at an average of £1,750.   This implies that some of the donations must be substantial, given that some fans can presumably only afford relatively small amounts.

Lower league football finances in Scotland

The financial realities of lower league football in Scotland are demonstrated by the latest accounts of Berwick Rangers.   Staff were paid on average £143 a week compared with £8,000 at Rangers.

Their last home game saw an attendance that was 10 per cent of capacity.   The club is reliant on a good cup run to keep its finances balanced.

Third director quits at Rangers

A third director has quit the board at Rangers, less than two weeks ahead of a crucial annual meeting when the cash squeezed club will seek to raise more funds.

Motherwell fans close to takeover

Motherwell fans are confident that they are close to taking control of the club.   They have not raised quite as much money as they hoped, but retired businessman Lee Hutchinson has stepped in to help them.

The club has made losses of £780,000 over the past two seasons and is expected to record another loss this season, so there is a big financial challenge ahead.

Livingston face administration threat

Livingston face a threat of going into administration for a third time.   The club went into administration in 2004 and 2009.

Former chief executive Ged Nixon is bringing an action in the Court of Session in Edinburgh to freeze the club's funds.    He want to sue them for £311,000.   If he was successful, the club might not be able to pay wages due on 25th December.