23 Dec 2014 12:20:11
I sent the original e-mail to the team at Bletchley Park and they are still scratching their heads!;-)


1.) 23 Dec 2014
I have a feeling Rangers fans are going to get a nice Christmas present, in my opinion MA is going to be the largest shareholder and future owner of RFC.
He will sell NUFC for 267 million to the Qatar group and remove any obstacles to owning Rangers.
The fact MA blocked DK told me it was not just about retail, he was interested in gaining control.
Please ignore the nonsense about 75p in every tenner, no accountant worth his salt would make this claim based on the limited information in the balance sheet.


2.) 23 Dec 2014
I hate to tell you steerpike, but the answers are in the audited financial statements. I am a CA and I checked it. There is an allocation of profits that shows others made £567,000 - it is safe to assume that is Ashley's 50% of profits from Rangers Retail. As revenue was over £7.6 million then the amount coming to Rangers is just under 75p for every £10 we spend. It is what it is!


3.) 23 Dec 2014
23 Dec 2014 15:25:25
Steerpike the Qatar Royal Family are only interested in buying a London based Premier League Club. They will not buy Newcastle. Also Ashley is not going to just pump millions into Rangers. He will keep it afloat but the club will need to live within it's means. He won't go out and "buy" success. If Rangers can't cut it they will sit in the Championship till they can win promotion with a reduced squad. Look at Hearts. Last point, no matter what happens the club will not be owned by Ashley. He may become the largest single shareholder but the club is on the AIM market so that will restrict what he does and how he puts his cash in. It's not going back to private ownership. Mike Ashley is not Santa.


4.) 23 Dec 2014
Dougie, if you are a CA then you should know the old rule about assuming anything in business!

But let's say your right, are you telling us sports direct, (because that's who rangers retail have the agreement with) made 567k profit from rangers retail?

All I see on here and elsewhere is people saying Ashley is taking millions out of rangers,

For all our benefits, please explain where those millions are shown in the accounts

JG


5.) 23 Dec 2014
Jg, I'm no accountant, but I believe it's sales - costs = profit or loss


6.) 23 Dec 2014
JG. You are completely correct. Assumptions are very dangerous. However, given that Rangers Retail is our only partially owned business I feel quite confident that Ashleys share of profits is the amount on the financials - and given it is a 50/50 business then our share of profits would be the same. I was only looking at it from our perspective and I think it is reasonable to say we only get 75p for every 10 quid in sales that we buy. I would never speculate on anything else!! Not an accountants way. Best wishes to all for 2015