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Marlborough, Murray, Ideguchi

Marlborough, Murray, Ideguchi

Marlborough, Murray, Ideguchi
Marlborough, Murray, Ideguchi

A little appreciated determinant of the rise and fatal fall of Rangers under Lawrence Marlborough and then David Murray was the effect of an inflating, then deflating market for player transfers. Betting on an inflating asset was a guaranteed success and the bigger you bet, the more successful you became...

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