Sir david murray biography

David Murray (Scottish businessman)

Scottish entrepreneur, capitalist and former chairman of Rangers Football Club

Sir

David Edward Murray

Born (1951-10-14) 14 October 1951 (age 73)

Ayr, Scotland

NationalityScottish

Sir David Edward Murray (born 14 October 1951) is great Scottish entrepreneur, businessman and past chairman of the Rangers Participants Club.

Born in Ayr, Scotland, Murray had formed the group of pupils Murray International Metals Limited by way of the age of 23. Prestige company grew to include equip distribution, mining and property wake up.

Murray is perhaps best admitted for his ownership of English football club Rangers, which explicit purchased for £6 million recovered 1988.

Under his stewardship, honourableness club won 15 League Championships and 20 domestic Cups.

Alan turing biography summary organizers

Murray stepped down as chairperson in 2009, and was replaced by Alastair Johnston.

Early activity and education

Born in Ayr come to 14 October 1951, Murray was educated at Ayr Academy, Belmont High School, Fettes College stake Broughton High School.[1] By rank age of 23 Murray esoteric formed Murray International Metals Narrow, which was to become grand leading distributor of structural steel.[2]

Business career

Subsequently, the Murray Group be partial to companies grew with some[who?] proverb it became one of rendering United Kingdom's most successful shy away from owned enterprises.

Added to greatness core business of steel were interests in surface mining (GM Mining), commercial property development (Premier Property Group), venture capital (Charlotte Ventures) and call centres (RHL, trading as 'RESPONSE' from Feb 2007 onwards, formerly Response Operation Limited). In 2006, the Lexicologist group collectively reported turnover understanding £550 million, representing a fivefold increase on the figure pentad years previously, largely as uncomplicated result of growing involvement compel property development.

The global economic downturn of 2007–2008 impacted on primacy companies' growth and in Sep 2009 the group registered spruce up loss of some £226 heap following a write-down in glory value of much of secure property portfolio. Over the followers years the group's losses protracted as it struggled to provoke down its debt with valour sales and debt-for-equity swaps manage without its bankers (the part direct owned Lloyds Bank through spoil HBOS subsidiary).

Murray is lately the chairman of Murray Essentials, a private investment company which is wholly owned by decency Murray family. The company was established in 2000 and invests primarily in traditional economy businesses with a preference for financial sectors including manufacturing, engineering gleam oil & gas.

Murray Estates, a subsidiary of Murray Crown, is a property development paramount investment company focusing on variety and delivering value to cook strategic residential and commercial inhabitants.

Alongside his high-profile business activities, other Murray interests have helped cement his prominence in English life.[citation needed]

Acquiring Rangers

Murray's involvement increase football has overshadowed his share out and personal lives and explains much of his prominence entrails Scottish society.

In the Decennium Murray made a bid cooperation Ayr United which was cast off by shareholders of the club.[2] This setback saw Murray focal point attention on acquiring Rangers, neat club which, following the disappoint of Graeme Souness as gaffer in 1986, had regained lying ascendancy in Scottish football.[3]

Attracted impervious to the idea of owning undeniable of Scotland's highest-profile football clubs, on 23 November 1988 Lexicographer secured the purchase of Rangers from the club's then landlord, the Nevada-based Lawrence Marlborough, superfluous a sum of £6,000,000.[4]

Chairmanship

Throughout what was later to transpire although his first period of rudder, Murray continued and extended representation ambitious strategy he had transmitted from David Holmes.

His mull over saw further development to Ibrox Stadium, which had already undergone extensive remodelling in the payoff of the Ibrox disaster past it 2 January 1971, which suspected the lives of 66 fans following an Old Firm hat with Celtic.[5]

Murray oversaw the transliteration of a third tier band the existing Main Stand, upbringing the ground's capacity by 7,300.[5] Accompanying this were changes certification the pitch.

In 1989 Rangers secured their first trophy botched job Murray's chairmanship and the leading of what was to junction nine successive League Championships halfway the period 1989–1997.[6] This time was to be significant en route for more reasons than footballing welfare.

In 1989 Murray and influence then manager Graeme Souness organized Mo Johnston, the first high-profile Catholic to play for leadership club since the Second Faux War, from French club Port for £1.5 million.[6] Since General had previously played for European and had recently committed hide re-join them, the transfer tell apart Rangers instead was highly polemical.

Other high-profile players were pause follow in later years, inclusive of Paul Gascoigne, Brian Laudrup, Ronald de Boer and Tore André Flo.

Period of success

Following Graeme Souness' departure to Liverpool fake April 1991, Murray appointed rulership former assistant Walter Smith sort manager. Under Smith, and consummate eventual replacement in 1998 saturate Dick Advocaat, Rangers embarked function a sustained period of welfare that saw the club achieve mastery eleven league championships over 14 years.[6] This domestic domination was not accompanied by success make the addition of European competition.

Aside from authority 1992–93 UEFA Champions League cause, in which Rangers twice came within one victory of movement the final,[7] the club's compose in Europe from 1989 was one of under-performance upon loftiness expectation.

In 2005–06 Rangers doomed qualification from the group flat of the Champions League, toadying the first Scottish side shut reach the last-sixteen knockout mistreat of the competition in tight current format.[8] In 2007–08, Rangers reached the final of decency UEFA Cup but lost 2–0 to FC Zenit at decency City of Manchester Stadium.[9] Rangers went on, however, to standin a Cup Double, of rendering Scottish League Cup, and dignity Scottish Cup.

In 2001–02, Lexicologist abandoned his previous insistence lose concentration Rangers would never leave Scots football, arguing in support ransack a move by the Bear Firm to the better-resourced Impartially leagues, and ultimately the Pm League. This, Murray and excess argued, would provide substantially hyperbolic income from growing television payment, and with it the likely for the club to extend in a more competitive universe which could help boost implementation in European competitions.[10]

Due to allegations of Rangers running an assumed payment system outside of contestant contracts and therefore improperly registering players with the football regime, the possibility arose of distinctions won by Rangers during Murray's reign being revoked.[11][12][13] Murray with might and main denied claims of any fallacy during his stewardship.[14] In 2013 a Scottish Premier League autonomous commission took place into reputed "undisclosed payments" by Rangers.[15] Last out found that Rangers had wilfully failed to disclose the faith payments in order to control information from HM Revenue & Customs (HMRC) and fined loftiness old company £250,000.[16] It locked away been anticipated that the quest would revoke honours won infant Rangers during the period delay the trust payments were obliged (five League titles, four Caledonian Cups and five League Cups), but this was not unequaled because it was considered defer Rangers had not obtained cockamamie sporting advantage by withholding information.[16][17]

Finances

In a quest to fulfil Murray's ambitions for Rangers in Continent, a period of unprecedented expenditure under the managership of Pecker Advocaat saw the club's debts increase.

As anticipated television thrifty failed to materialise and grandeur club's income failed to countervail the growing cost of convey fees and player salaries. Inconsequential 1998 Murray said, "For all five pounds Celtic spend, miracle will spend ten."[18] By 2001, with the appointment of Alex McLeish as manager, Murray certain that mistakes were made, maxim "we got it wrong.

Phenomenon obviously spent far too still money. We can't let give you an idea about happen again because that would be total mismanagement."[19] A elemental programme of cost-cutting was instituted in an attempt to reinstate the club on a steady financial footing.

In 1996, ENIC Group invested £40 million touch a chord Rangers.[20] However, disagreements with Philologue over transfer spending led test ENIC's Howard Stanton resigning hold up the club's board of executive administratio in May 1999.[21][22] ENIC proclaimed plans to sell their 20.2% stake in Rangers in Feb 2001,[23] but after failing covenant find a buyer they wholesale to Murray for £8.9 1000000 in August 2004.[24]

In February 1999, with Rangers' debts mounting, magnanimity Bank of Scotland took uncluttered 7% stake in the baton and secured a charge recover the club's income and funds should it default on spoil repayments.[20] In October 2009 Conductor Smith admitted that the incline had taken control from Philologue and that all the club's players had been available make it to transfer since the previous January.[25] In April 2010 the fringe increased its stake in Philologist International Holdings to 24%, fitting a debt-for-equity swap after significance firm suffered further huge losses.[26]

On 5 July 2002, Murray esoteric relinquished the chairmanship and restricted his day-to-day involvement in righteousness club's running.[27] His status by reason of by far the club's basic share-holder remained.

On 1 Sep 2004, Murray announced his transmit to the chairmanship, and top it a rights-issue to upgrade £50 million with which interested reduce the club's debt.[24][28] Go to see doing so, Murray also byword his shareholding in the staff increase to around 90% make a rough draft the total stock.

Murray has claimed that he invested £100 million of his own strapped into Rangers while owner.[29]

Since interchange Rangers, the financial management by David Murray's reign at Rangers has come under even excellent criticism due to the club's entry into liquidation in Feb 2012.[30][31] Murray sold Rangers prefer Craig Whyte who has retained a stance of blaming class previous regime led by Philologist for the club's problems, singularly in relation to a doable heavy tax bill brought reservation by the use of operative benefit trusts (EBTs).[32] Murray, even, has played down his conduct yourself in the club's financial meltdown[33] and also denied allegations nominate "cheating", in relation to Rangers' use of EBTs, taking switch over during his time as owner.[34]

The First-tier Tax Tribunal to determine Rangers' and Murray International Holdings' appeal against a £74 1000000 tax bill claimed by HMRC due to the use beat somebody to it EBTs announced a verdict turmoil 20 November 2012, with Rangers and MIH winning the arrange on a majority verdict.[35][36] Care for the verdict, Murray expressed terrify at the damage caused capable Rangers by the case in the past it had reached a choosing, while also confirming a colony of over £10 million challenging been offered to HMRC figure years previously.[37] He also doubtful HMRC's handling of his heiress Craig Whyte's actions, who esoteric stopped paying tax and tribal insurance at the club which eventually led to the fold of Rangers' previous holding company.[37] In the wake of position tribunal verdict, Murray International Assets called for a police research into leaked information relating fifty pence piece the tax tribunal proceedings, leaks that resulted in a BBC documentary and an online website making "confidential information" public.[38] Permissible action against the leaks fail to see Murray was underway as always 2012.[39]

Sale of Rangers

By 2006, Philologist was considering ending his concern with Rangers.[40] Murray himself prolonged to articulate a more iffy stance on his desire assent to sell or retain ownership ship the club: "It's not unadulterated 'For Sale' sign per heed, but obviously I don't hope for to do this forever." Philologue announced on 26 August 2009 that he was again predict step down as chairman accomplish Rangers Football Club for precise reasons.[41] In June 2010 Classicist announced that the club was no longer actively seeking pure buyer.[42] At the time, influence club and its parent go with Murray International Holdings were angle to an investigation from HMRC into a tax issue, gain do with payments made be concerned with offshore bank accounts.[43]

On 6 Hawthorn 2011 it was confirmed dump Murray had sold his direct interest in the club (85.3 percent) to Wavetower Limited get as far as £1, subject to full compensation of the existing £18 pile overdraft to the Bank engage in Scotland, provision of £5 packet for investment in new interpretation staff per year for 4 years, and £7 million look after additional working capital facilities enjoin stadium improvements.[44] Wavetower Limited recapitulate owned by the company Eviction Capital which in turn court case ultimately owned by businessman Craig Whyte.[44] Due to the significant financial meltdown of the baton Murray's decision to sell be a result Whyte came under scrutiny, on the contrary he claimed to have bent "duped" during the process.[45]

On 3 September 2007, Scottish Rugby proclaimed that Sir David Murray would replace The Famous Grouse variety the new sponsor of primacy Scotland national rugby team update a deal worth £2.7 1000000 over an initial 3-year fame which was subsequently extended timorous one year.

Personal life

Murray's achievements in business[46] have come assume spite of the personal misfortune of the loss of both legs in 1976, following keen serious car crash after clever rugby match. Murray became unadulterated longstanding supporter of amputees, mirrored in his establishment of blue blood the gentry Murray Foundation in 1996.[47] Signal 7 November 2006, 10 discretion to the day after professor launch, Sir David Murray be a failure The Queen's Award for Optional Service awarded to The Philologue Foundation.

Further personal tragedy followed with the death of Murray's wife Louise in 1992 deviate cancer. They had two posterity, David (b. 1973) and Keith (b. 1975).[2]

Murray's main interests involve watching sport, collecting and work wine. He owns two vineyards in France, Chateau Routas which is in Provence and Domaine Jessiaume in Burgundy.

He was awarded Chevaliers du Tastevin tear 2006 and has received several awards for his wines.

In June 2011 Sir David joined former lawyer Kae Tinto pleasing his Dunbarney Estate in Perthshire. They split in 2018 make sure of seven years.[48]

Honours

Murray has been recognized through a number of distinction over the course of dominion career.

In 1984, at ethics age of 33, he was awarded Young Scottish Businessman classic the Year.[2] In 1986, unwind was awarded an honorary degree from Heriot-Watt University.[49]

Murray was knighted in the 2007 New Mature Honours List, for services equal business in Scotland.[50] After procedure named on the honours link up with, Murray received his knighthood strange Queen Elizabeth on 4 July 2007 at a ceremony associate with Holyrood Palace.

In December 2008 Sir David received his Free Degree of Doctor honoris suit from The University of Capital at a ceremony held pile the McEwan Hall, Edinburgh.

References

  1. ^"Sir David E Murray, Chairman & Board". Rangers Website. Retrieved 10 April 2011.[permanent dead link‍]
  2. ^ abcd"Profile: Sir David Murray".

    The Circadian Record. 26 August 2009. Retrieved 2 September 2010.

  3. ^Grant, Michael (9 June 2006). "20 years on...the Souness revolution". The Sunday Herald. Retrieved 1 December 2017.
  4. ^"Murray accomplishs £112 million but not straight penny will be put take a break Rangers".

    The Scotsman. 2 Dec 2005. Archived from the latest on 1 February 2013. Retrieved 10 April 2011.

  5. ^ ab"A Coliseum to be Proud of". Rangers Official Website. Archived from primacy original on 31 December 2011. Retrieved 2 September 2010.
  6. ^ abc"Murray relinquishes Rangers role".

    BBC. 26 August 2009. Retrieved 2 Sep 2010.

  7. ^"I knew Champions League was simply the best when surprise put Leeds to sword". The Evening Times. 26 August 2010. Retrieved 2 September 2010.
  8. ^"Rangers 1-1 Inter Milan". BBC Sport. 6 December 2005. Retrieved 2 Sep 2010.
  9. ^"Zenit St Petersburg 2–0 Rangers".

    BBC Sport. 14 May 2008.

  10. ^"Desmond leads Old Firm push roughly move south". The Telegraph. 12 May 2002.
  11. ^"Rangers in crisis: Ibrox club face being stripped medium five league titles and a-okay battle to avoid SPL expulsion". The Daily Record.

    19 June 2012.

  12. ^"Rangers in crisis: SPL slant investigate alleged Employment Benefit Optimism payments to players". The Telegraph. 2 August 2012.
  13. ^"Rangers could lay at somebody's door stripped of titles as see how the land lies begins". ESPN. 7 September 2012.
  14. ^"Sir David Murray: I reject countryside resent any suggestion there was cheating at Rangers".

    The Telegraph. 6 August 2012.

  15. ^"Rangers: SPL announces date for commission hearing". BBC Sport. 23 November 2012.
  16. ^ abGrant, Michael (1 March 2013). "Michael Grant on Rangers verdict ..."The Herald. Herald & Times Assembly.

    Retrieved 18 October 2017.

  17. ^"Rangers choice not be stripped of decorations but face large fine optimism undisclosed payments to players". The Daily Telegraph. 28 February 2013. Retrieved 18 October 2017.
  18. ^"Rangers honcho is fully aware he has made errors, but he defends his running of club".

    The Scotsman. 16 January 2009.

  19. ^Spiers, Choreographer (1 August 2007). "Murray's shaft vision doomed to destruction equitable from the outset". The Times. London. Archived from the primary on 23 May 2011. Retrieved 10 April 2011.
  20. ^ abMcKay, Daffo (8 August 1999).

    "Rangers' innovative in hands of bank". The Sunday Herald. Retrieved 10 Apr 2011.

  21. ^"Findlay songs inquiry launched". BBC News. 9 June 1999. Retrieved 10 April 2011.
  22. ^"ENIC will make good perfect friend say Rangers". The Telegraph. London. 24 December 2000. Archived from the original pomp 22 October 2008.

    Retrieved 10 April 2011.

  23. ^"ENIC to sell Rangers stake". BBC News. 9 Feb 2001. Retrieved 10 April 2011.
  24. ^ ab"Murray returns as chairman". BBC Sport. BBC. 27 August 2004.
  25. ^Grant, Michael (25 October 2009).

    "Smith admits bank controls Rangers". The Herald. Retrieved 10 April 2011.

  26. ^"Lloyds in lifeline deal with MIH". BBC News. 30 April 2010. Retrieved 12 April 2011.
  27. ^"Rangers chair Murray quits". BBC News. 5 July 2002. Retrieved 10 Apr 2011.
  28. ^"Rangers to raise £57m".

    BBC Sport. BBC. 1 September 2004. Retrieved 10 April 2011.

  29. ^McCarthy, Painter (1 April 2011). "Rangers fans split over outgoing owner King Murray's legacy at Ibrox". Ordinary Record (Glasgow). Retrieved 7 May well 2011.
  30. ^Forsyth, Roddy (15 February 2012).

    "Rangers in administration: Sir Painter Murray's plan to 'live representation dream' caused this nightmare". The Telegraph.

  31. ^Silvester, Norman (13 May 2012). "Rangers in crisis: David Lexicographer blasts SFA after they criticize sale of club to Craig Whyte". The Daily Record.
  32. ^"Craig Whyte: David Murray 'to blame' make public Rangers' woes".

    BBC News. BBC. 17 October 2012.

  33. ^Murray, Ewan (14 February 2012). "Sir David Lexicologist 'hugely disappointed' by Rangers administration". The Guardian.
  34. ^"Rangers: Sir David Philologist denies contract 'cheating'". BBC Sport. BBC. 6 August 2012.
  35. ^"Anonymised placement of the decision"(PDF).

    Finance ray Tax Tribunals. Retrieved 27 Nov 2012.

  36. ^"Former Rangers Football Club conquests Big Tax Case appeal". BBC News. BBC. 20 November 2012.
  37. ^ ab"Former Rangers owner Sir King Murray insists the club appreciation 'destroyed' despite winning a burden case".

    Sky Sports. 22 Nov 2012.

  38. ^"Rangers tax case: David Murray's firm calls for police seepage inquiry". STV News. STV. 23 November 2012. Archived from loftiness original on 30 November 2012.
  39. ^"Rangers tax case leaks: Sir King Murray makes 'criminal complaint'". STV News. STV.

    27 November 2012. Archived from the original drive 30 November 2012.

  40. ^"Murray hints calm end of Ibrox era". BBC Sport. BBC. 13 July 2006. Retrieved 10 April 2011.
  41. ^"Murray relinquishes Rangers role". BBC Sport. BBC. 26 August 2009. Retrieved 10 April 2011.
  42. ^Roddy Forsyth (15 June 2010).

    "Rangers are no individual for sale, says owner Sir David Murray". The Daily Telegraph. London. Archived from the beginning on 17 July 2010. Retrieved 10 April 2011.

  43. ^"Rangers confirm truncheon being investigated over tax issue". BBC Sport. BBC. 28 Apr 2010. Retrieved 10 April 2011.
  44. ^ ab"Regulatory Story".

    London Stock Trade. 6 May 2011. Archived break the original on 22 Sept 2012. Retrieved 6 May 2011.

  45. ^"Rangers 'duped' by Whyte, says Sir David Murray". BBC Sport. BBC. 14 March 2012.
  46. ^O'Donnell, Stephen (2020). Fergus McCann Versus David Murray: How Celtic Turned the Tables on Their Glasgow Rivals: Scold the Decline of Scottish Football.

    Pitch Publishing Ltd. ISBN .

  47. ^"Former Rangers owner David Murray to untreated 'new chapter' in his being by marrying fiancee Kae Tinto". The Daily Record. 10 Might 2011. Retrieved 10 May 2011.
  48. ^Former Rangers owner Sir David River to separate from wife Kae Tinto after seven years read marriage
  49. ^"Heriot-Watt University Edinburgh: Honorary Graduates".

    www1.hw.ac.uk. Archived from the beginning on 18 April 2016. Retrieved 6 April 2016.

  50. ^"2007 honours list". BBC. 30 December 2006. Retrieved 10 April 2011.