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Craig Whyte Trial

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Jimbo Jagsfan

Jimbo Jagsfan

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Back on topic, the judge asked the jury if any of them had ever been shareholders in Rangers, and could be excused. None were.

Would an ex (old Rangers) shareholder be more inclined to think Craig was innocent or guilty?

Would an existing Sevco shareholder (through one of the supporters organisations or otherwise) be more inclined to think he was innocent or guilty?

Would a juror with the name Partick O'Donnell (for example) from east Glasgow be more inclined to think he was innocent or guilty?

Could you reasonably expect to get 15 people from Glasgow who didn't have an existing view on this matter before hearing any evidence?

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Granny Danger

Granny Danger

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10 minutes ago, Jimbo Jagsfan said:

Back on topic, the judge asked the jury if any of them had ever been shareholders in Rangers, and could be excused. None were.

Would an ex (old Rangers) shareholder be more inclined to think Craig was innocent or guilty?

Would an existing Sevco shareholder (through one of the supporters organisations or otherwise) be more inclined to think he was innocent or guilty?

Would a juror with the name Partick O'Donnell (for example) from east Glasgow be more inclined to think he was innocent or guilty?

Could you reasonably expect to get 15 people from Glasgow who didn't have an existing view on this matter before hearing any evidence?

I am none of these things and could be completely impartial.

 

As an aside can the jury award him damages and the freedom of the city?

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muirkirk nil

muirkirk nil

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James Doleman‏ @jamesdoleman
First witness of the day, former Rangers manager Walter Smith
Smith tells the court he is 69 years old and gives his occupation as "retired"
Smith asked to give a "brief history of Rangers" says "they are one of the major clubs in Scottish football" 
Smith asked "where does the revenue for a football club come from?" Answers owners, season tickets and sale of players 
Smith confirms that champions league revenue can greatly boost a teams earnings
Smith confirms season ticket money provides "working capital" for football clubs at the start of the season
"When you are involved in the management finance issues are not something you are too involved with" Smith tells the court
Smith says David Murray stepped down as chairman in 2009 to be replaced by Alistair Johnson.
Smith agrees Dave King and Paul Murray were on the board at Rangers in 2010. Agrees he was "focussed on the playing squad" 
Smith on finances of club: "Never really burdened by overall matter but obviously aware of them."
Smith says David Murray said "he was quite willing to sell the club" in 2008 or 2009
Smith said he was not surprised Murray wanted to sell the club as had been in place "for a long time"
Smith says in March 2011 Murray asked him to come to Edinburgh and told him he was "in the throes" of selling the club
Smith says he first met Craig Whyte in an office in Glasgow before the takeover, not sure whose office it was
Smith says meeting with Whyte was also attended by Matin Bain. Whyte was interested in the financial state of the club
Smith says he told Whyte the team needed Investment to "introduce an element of freshness" to the team.
Smith asked if he was aware of a tax case involving Rangers, replies "it was general public knowledge" also aware of "overdraft with bank"
Smith says bank overdraft reduced over the 4 years he was there, from £30m to around £16m
Smith says he was only manager for 4 days after Whyte took over 

Advocate depute ends his questions. Defence counsel, Donald Findlay QC rises to cross-examine

Smith confirms that as well being manager he was also a director of the club

Findlay suggests "football clubs are also businesses" Smith agrees and confirms as a director he had "fiduciary duties"
Findlay suggests most football clubs have a "clash" between what players the support would want and the financial constraints
Smith agrees that any club "is always looking for better players"
Findlay asks what % of the turnover of a football club is spent on 1st team
Smith says he "couldn't hazard a guess"
Findlay suggests "unless you are going to run a club into the ground there has to be some relationship between turnover and expenditure"
Smith agrees that if he asked for £89m for a player "it would be a short conversation" adds "you know the parameters in which you work"
Smith says budget for players was: "effectively managed by David Murray and Martin Bain"
Findlay suggests that it's up to a player if "he wants to move from Monte Carlo to Govan"
Smith agrees transfer fees are often paid in installments, example £1.5m up front with further fees given number of games played etc
Smith says "these days as a manager we don't deal with agents on the financial side" 
Smith says he would be asked "if the fee they [Murray and Bain] were considering for a player was a fair one"
Findlay asks Smith if he had been given £5m for players in 2011 "what would you get"?
Smith references Jelavic transfer for £3m
Smith says Jelavic cost Rangers £3.5m 
Smith "you hope every player you sign works out for you..but it's not an exact science"
Findlay suggests that in 2011 £5m was not a lot of money for transfers
"It's not the high end of the market" Smith replies 
Smith says that a £5m player can help a club get to the Champions League hence justifying the transfer fee 
Findlay asks if "prudent clubs will budget for being knocked out in the first round of a cup competition"
"I was never overly-burdened by the financial issues" Smith replies
Smith says: "for the Champions league especially you can look for your club to be making money over the season" 
Findlay "If you are knocked out in a preliminary round the Champions league money is gone" 
Smith agrees. 
Findlay asks Smith if a manager would know that being knocked out of Europe would have a financial impact on a club?
"Yes" he replies
Smith asked about managers contract notice period. Replies "both times I was sacked I didn't get any notice"
Smith agrees there would usually be an financial agreement in a managers contract if he was sacked 
Smith agrees sacking a manager could have financial implications for a club, esp as new manager would bring in his own staff

Court adjourns for it's morning break....

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aDONisSheep

aDONisSheep

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1 hour ago, muirkirk nil said:

James Doleman‏ @jamesdoleman
First witness of the day, former Rangers manager Walter Smith
Smith asked "where does the revenue for a football club come from?" Answers owners, season tickets and sale of players 
 

Jesus Christ Smith you doddery auld knvt!   That's not the right answer!

The correct answer is "It's got fvk-all to do with the club, going for 55, nae surrender, the big hoose ya bass"!

 

 

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muirkirk nil

muirkirk nil

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Break over, proceedings to resume with further cross-examination of former Rangers' manager Walter Smith
Findlay asks Smith if a football club's wage structure includes "bonus" for success on the field 
He replies yes, for players and management
Smith says his last period in charge was a successful period for the club including reaching a European final
Findlay now asking about Champions League qualifiers, Smith confirms there were three rounds.
Smith says his recollection was that in 2011 Rangers went directly to second round of qualifiers for Champions League
Smith asked if he can recollect how Rangers did in 2011 Champions league?
"Says he cannot remember exactly as was "on holiday at the time"
Smith agrees not qualifying for Europe would be a "significant financial blow" to Rangers 
Smith asked if he knows when decided Ally McCoist would replace him? Says not sure but "was hopeful that would be the case"
"I thought Mr McCoist was due the opportunity.. he did an excellent job for me" Smith tells the court 
Alistair Johnson was chairman during Smith's second period at the club minute of understanding confirms
Smith confirms that while chairmanJohnson was resident in the USA so not always "physically present"
Smith says that club was run on a day to day basis by chief executive Martin Bain
Findlay asks Smith: "who called the shots, who was the boss"?
Smith says he reported to Martin Bain but did speak to David Murray too
Smith asked if he ever discussed the sake of the club with David Murray
He says they did talk about it.
"I don't know the mechanisations of how you put a club up for sale." Smith tells the court 
Smith says Murray had "made it quite well known" he was willing to sell his Rangers' shares. Agrees it was an "open secret"
Findlay suggests that in a police statement Smith said he told Murray: "you would stay until the club was sold"
Smith agrees
Findlay "there wasn't exactly a stampede of people wanting to buy Rangers was there"? Adds " no wealthy Russian oligarchs"?
Findlay suggests that Whyte was only serious bidder for Rangers. 
Smith agrees
Findlay suggests to Whyte "there was a tremendous financial burden on Rangers" 
Smith says "the banks allow it to happen" 
Findlay suggests one way the debt could have been managed was to "cut costs" of playing budget 
Smith says he would "point out the consequences of that action" ie, less success on the field
Smith says success on the field gives the club a chance to bring in other sources of finance"
Findlay suggests "speculating to accumulate is a dangerous business in football" Asks what happens if expensive player gets injured
Findlay says Leeds United "tried to buy success" and are now in the Championship in England
"They had successful seasons" Smith replies
"Throwing money at it doesn't guarantee success" Findlay suggests "it's a stupid idea" he adds 
"It's a gamble" Smith replies 
Findlay to Smith "In 2011 did you know financially how bad things were at Rangers 
"Not exactly" he replies.
Findlay asks if Smith knew the banks were "about to pull the plug on Rangers" witness says he was aware bank had placed person on board
Smith agrees a "Donald Muir" was on the board but did not know who appointed him. Agrees debt to bank was around £18m in 2011.
Findlay wants to show a document to the witness but Crown say not immediately available.
Lady Stacey says as nearly lunchtime it would make sense to adjourn now while document located and copied.
Court rises until 2.

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