“Due Diligence”
I have to admit I had to look it up to fully understand what it meant.   These words keep cropping up in conversations about my club, and I felt  it was important to fully appreciate the meaning. For those who haven't  yet looked it up let me save you the bother...
"Due diligence" is a term used for a number of concepts involving either  an investigation of a business or person prior to signing a contract,  or an act with a certain standard of care. It can be a legal obligation,  but the term will more commonly apply to voluntary investigations. A  common example of due diligence in various industries is the process  through which a potential acquirer evaluates a target company or its  assets for  acquisition.
We shall return to this term and its significance in due course.
This story starts way back in October 2009 with the news that Donald  Muir had joined the Rangers board.  Described as having “more than 25  years' experience of strategy implementation and business transformation  activity internationally in a variety of industry sectors” he was  regarded as something of a turnaround specialist. The Rangers support  was initially told that Muir, who had a remit to oversee the MIH empire  and was not employed by the bank but by Sir David Murray.
The following 2 articles written and published by the Rangersmedia  website were composed on the strength of those assurances given to the  support.
http://home.rangersm...-the-truth.html
http://home.rangersm...hin-redux-.html
The media also were sown the same line though the ever cynical James  Traynor sniffed something was amiss (Even a broken clock is right twice a  day)
http://blogs.dailyre...crossroads.html
Its perhaps worthy to mention that by the time Muir was appointed in  October 2009, Sir David Murray had stepped down as chairman leaving  Alistair Johnston to replace him 2 months previously.
But all was not well and rumours were rife about the exact nature of  Donald Muir's role at the club, with matters coming to a head on October  24th 2009 with manager Walter Smith publicly declaring "As far as I'm  concerned the bank is running Rangers." 
It eventually emerged that Muir's role at the club was not as had been  previously described but hat he Muir was placed on the board by Lloyds  Banking Group as a condition of them extending Rangers’ credit  facilities. 
http://www.express.c...sts/view/238170
One begins to wonder. given the events of the last few weeks. if lying to the Rangers support is a condition of ownership.
Moving away from football for a minute to a world undergoing something  of a recession Sir David Murray's own business interests were not  enjoying the success they once had ,with Lloyds bank having to inject  £150 million in equity into the group as the group underwent  restructure.
http://www.bbc.co.uk...siness-12975048
Could it be that this, along with the heavily underwritten shares issue  in 2004 , was trying the patience of Lloyds with the mercurial  entrepreneur ?
Of course by this time Sir David had apparently tired of his plaything,  despite assertions years earlier that his bloodline would take over the  club after him, and the club was on sale. Of course the news that an  alleged misuse of EBT's during Sir David's reign made selling the club  akin to Mission Impossible. Well nearly. For Donald Muir during his time  at Rangers had produced a Global Prospectus with the intention to  attract multi-rich buyers.
http://www.heraldsco...-hunt-1.1027050
Ethan Hawke ? Well I suppose that would added some variety to the vultures already at our club.
But there are those 2 little words again in that article...due  diligence. The investigation into these prospective buyers had revealed  that they did not meet Sir David's criteria of taking the club forward.  Among other things of course. Another name emerged on the scene as well –  that of Andrew Ellis, a little known character with something of a  questionable past. I assume due diligence was exercised with regard to  the aforementioned hence why that interest came to nothing.
Amidst all the doom gloom surrounding Rangers finances a new name  appeared on the scene that of Craig Whyte with Donald Muir promoting the  sale to Whyte as a viable option for the club.
A quick google search on Craig Whyte actually revealed very little on  him, and those who dug a little bit deeper could find little with regard  to his finances. Yes some reports have suggested he is a  mutli-millionaire or even billionaire. And this may be the case – but  the evidence to support this assertion cannot be found in terms of  pounds shillings and pence.
But that of course is just the limited searches of your average bear on  the internet. I would imagine the due diligence in respect of the take  over of a football club and business warrants considerably more  investigation than any interested or concerned fan in the street can  muster.
The deal of course to sell our club to Craig Whyte of course materialised and the rest as they say is history.
Which leaves me with a number of questions for Donald Muir...and indeed Lloyds Bank. 
What process of due diligence was undertaken by Donald Muir that caused him to promote the sale of our club to Whyte.
If any kind of due diligence was carried out why did it not reveal that Andrew Ellis was connected to Craig Whyte ?
If it was undertaken and the Ellis connection was discovered why did the  sale go through when an earlier bid appeared to have faltered ?
What we do know is that when our board at the time got wind of the sale  to Whyte they resisted it tooth and nail with both Alistair Johnston and  Paul Murray trying to raise funds, in a vain to prevent his purchase.
Did they read the same due diligence report on Whyte which Donald Muir had read ? 
So what did Alistair Johnston and Paul Murray see that alarmed them so much, yet Donald Muir promoted the sale ?
And 1 final questions for Donald Muir. 
Whose interests were you acting when you promoted the sale of Rangers football club to Craig Whyte, Rangers or Lloyds Bank ?