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Scottish Leagues

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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.

Rangers fans call for merchandise boycott

The Union of Fans, a coalition of Rangers supporters' groups, have called on fans to stop buying club merchandise.   They have got accountants to analyse the deal with Mike Ashley's Sports Direct and they consider that it is highly unfavourable to the club.

According to their calculations only 75p of every £10 fans spend on merchandise goes to the club and Rangers received just £2,000 in the last six month accounting period.

Rangers need more funds

Rangers are to launch a new share issue to raise funds after they revealed losses of £8.3m in the period to 30th June.   This was a substantial improvement on the £14.4m loss reported in the previous year. However, they will need the first tranche of money in January to continue trading.

Hearts could leave Tynecastle

Hearts might eventually have to leave Tynecastle according to new owner Ann Budge.   The stadium has been neglected for some time and is in a state of disrepair.  In particular, the neglected 100 year old main stand is a problem.

The stadium is being patched up, with particular attention to the requirements of safety, but there are limits to what can be done given the prudent financial approach of the new regime.

SFA's concern about Rangers

Scottish Football Association chief executive Stewart Regan has expressed his concern about the financial situation at Rangers because of its impact on Scottish football as a whole and the local economy.

Ashley increases Rangers loan

Mike Ashley has increased his loan to Rangers from £2m to £3m.  However, the club is likely to need a further injection of cash before the end of the year because of poorer than expected attendances.

Aberdeen to clear debts

Aberdeen FC will be virtually able to clear debts that have hampered them for years as a result of a generous intervention by a local civil engineering company.   W M Donald want to put something back into the community and will reduce debts of £15.9m by £14.49m.   The cost of servicing the debt was £500,000 a year.

Ashley makes ground at Rangers

Newcastle United owner Mike Ashley is tightening his grip on Rangers.  Financial consultant Philip Nash, one of the two directors he has been trying to remove, has resigned from the board with immediate effect.

This suggests that rescue plans from indviduals other than Mr Ashley are unlikely to succeed.  The offer of £16m for the club from former director Dave King looks set to fail because of opposition from Sandy Easdale who controls 26 per cent of the voting shares.

Rangers bid talks

Dave King, who in conjunction with two other businessmen, is seeking to make a £16m bid for Rangers has been in talks with influential shareholder Sandy Easdale.   King needs the support of 75 per cent of shareholders and Easdale controls 26 per cent of the voting shares.    King is said to be open to a deal which would avoid dilution of the stakes of existing shareholders.