Rangers Finances 3

 

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05 Nov 2017 09:49:55
Current financial state is worrying according to SSN. Nearly £7 million loss and looking at another £3 million needed to see the season through. Cannot see any money being made available to the new manager. Need some wealthy bears to bail us out again.

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15 Nov 2017 14:48:27
c'mon wealthy bears where are u and why are u not handing your hard earned cash to us lol

05 Nov 2017 09:48:33
The accounts are out a £6.7m loss, double last year despite getting back to the milk and honey that is the SPL. I recall many of you predicting it will all be well once in the top division, oh well.

To be fair there is a £3m cost in there that presumably won't happen every season but that opens its own can of worms. Does anyone remember Dave mentioning a £3m hit during the spectacular end of the deal with Sport Direct? I don't recall it being mentioned at all. Transparent Dave not being transparent, surely not?

For the forthcoming season there will be further cash required, £4m to keep the lights on, the first tranche of which is required this month, with a further £3.2m required next season, is living within your means just a fictitious state of mind that other businesses do? On the week creditors are projected to get less than 4p in the pound its another shining example of what a basket case of a club you are.

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05 Nov 2017 09:47:09
That's the accounts out for all to see Timothy will have many a sleepless night going through them and they said they were stalling releasing them too tut tut.

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05 Nov 2017 13:42:26
Calamero, on the week where the umpteenth losses in a row were revealed, a revelation comes out about Sports Direct getting £3m no one knew about, news emerges that this season further cash will be needed to keep the lights on and oh and by the way it's the same next year, you choose to have a pathetic wee "obsessed" flavoured pop at Celtic fans. With antipathy like yours is it any wonder your club is a shambles? If we were your only concern this week you don't deserve a club and don't moan when it all goes Pete Tong again you did NOTHING about it.

06 Nov 2017 05:04:25
Think you just proved his point gazo old chap.

06 Nov 2017 08:32:20
@gazo - aye because we are all sitting here with £10's of millions burning a hole in our pockets. Just like you personally rocked up and rescued Pacific Shelf - oh wait that was The Bunnet. Who eventually sold up for mega profit.

06 Nov 2017 09:23:29
His lack of talking about any other part of the finances since seems to have proved mine Ducca. Of course we are going comment on them, it's the lack of talking and concern from Rangers fans that is bewildering old chap.

07 Nov 2017 02:05:41
Nothing to do with that Union Jack you have stubbornly backed dodgy character after character because non Gers were telling a few home truths about them. Dave Bassett gave you the entire template of what Charles Green would do and still you ignored it.

As for what you can do personally, it's called an AGM, if you have any shares you can vote, it toppled the last Board bear in mind and all board members need voted on and since no one has close to 30% personally then all board appointments are to some degree up for grabs and it only takes one board member to get say 10% less approval than others for a message to be sent but most of you buy any old Craig Whyte if its uttered from a guy in a Rangers tie.

And yes things changed at Celtic more because of McCann than anyone however was there any doubt in the fans misgivings about that board? No there wasn't. "The rebels have won" declared Brian Dempsey and that term applied to more than Fergus McCann. Nothing wrong with a profit if you can make a legacy but of course turning a profit seems to be a bit of a problem currently doesn't it Union Jack?

09 Nov 2017 08:35:52
@gazo - didn’t Dempsey get dropped like a hot potato by the Bunnet so obviously you weren’t all singing from the hymn sheet. As you can see on here we all have differing opinions on who should be manager, formation etc. Doesn’t make us right or wrong. But thanks anyway for your concern.

10 Nov 2017 06:20:05
UJ I could have swore we were talking about dodgy board members and how fans can impact that, not owners sacking other board members but nice deflection. Now have you any thoughts on holding board members to account via AGM's or any further gems on profit making since you brought that up too?

05 Nov 2017 01:30:38
I know that we are not in a great position financially BUT what are the thoughts on a release clause or a compensation package for McInnes being the obstacle that would stop us from getting him?
I've read that the sum of 1.5m is not true and that the figure is 800k to land both McInnes and his Assistant! Do not know if this is true? If anyone knows more on this let us know. I was thinking that even at 1.5m the Board WOULD still go after McInnes! I agree that 1.5m is a fair amount to us at present and it pi*×+es me off as this amount should not be an issue but again our Club has thieves within for far too long and now we have People trying to rebuild financially.
We WILL turn things around on the Park whixh will result in financial gain!
There are VULTURES out there and in the media who delight in printing Headlines such as our Club shelling out 3m to break ties with SD! BUT this is a short term loss for long term gains!
Again I hope that this sum does not deter the Club from bringing Del back as the Man wants to come. I also think that he would be on wages of a reasonable level, I think that he would be on a wage that would be lower than Moyes, Pardew, Allerdyce etc

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05 Nov 2017 13:44:11
Andy your club come to an agreement with SD, but fail to mention the £3m despite King's previous claims of transparency but that makes the media delighted vultures? What planet are you on? It sounded too good to be true at the time, loads of folk said so and lo and behold it took a sweetener, I myself said it had no fixed term which was equally ambiguous.

If you live in the fantasy world of all media bad all board members good then prepare yourself for a big disappointment and that is without the ramifications of having only the third person TAP has ever sent to court as your chairman.

11 Nov 2017 13:33:37
Gazo a take it you had a good read then you seem to be getting your Wee pants in a twist and a few sleepless nights over OUR ACCOUNTS why are you worried about what RANGERS FC accounts say. after all you said we are dead and all the zombies can’t have an AGM can they?

04 Nov 2017 09:50:35
Looking at the reports of a £6.7 million loss. This fills me with dread. Surely paying another million or so for mcinnes is very risky. If wee get Big Eck to steer the ship until end of season it may be a cheaper and wiser move.

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04 Nov 2017 13:31:36
And Dave King seems to have forgotten to tell us that he paid Mike Ashley a 3million payoff. Transparency?

04 Nov 2017 14:37:10
Mcinnes money needs to come from the directors who decided Pedro would be a rangers manager? Their mistake. Would agree the amount of loans we are needing to keep going is a worry. Whoever is the next manager is we cannot afford to waste transfer money like Pena, Herrera.

04 Nov 2017 20:57:50
If we didn't pay 3 million to ashley and the transfer fees we paid wouldn't we have made a profit? From where I'm standing we have enough money to run the club at the level but we don't have enough to improve the squad so this is where the directors are putting the money in to cover that.

When we have more money coming from the shirt sales etc then I'm sure things won't look as gloom as some think.

Our debt is to supporters (directors) none banks etc

Why would these guys be putting money into the club if things where that bad I don't think they would as they are all sound businessmen but none of them have the money to be throwing away on a pipe dream

04 Nov 2017 22:56:24
Our biggest problem is that yet again our chairman is lying. He instructed his legal representatives to tell the court that he was penniless and yet the accounts state that he will provide the necessary funds to match any shortcomings to get us through this season. He also claimed that we meet fair play regulations in the accounts, that is also a lie, we are in breach of those regulations due to our debts.
Who is he lying to? Us or the courts? If it’s us then we’re in trouble very soon.

04 Nov 2017 23:15:40
The finances are up to June 30th. As far as I can tell all transfers were put through after that eg. Pena was registered 1st July. So most of the transfers aren't part of these accounts.

As to loans etc. there will come a point when these will be called in. Isn't there an agreement to not do so until 2019 or thereabouts? So, to get their money back, they need to ensure the club survives until then.

There may come a point when they think enough is enough and stop putting in money in the hope they'll get it back.

05 Nov 2017 00:38:05
Bears iys a short term loss for a long term gain! No worries.

05 Nov 2017 08:09:27
Hey Andy, can you explain how we get these long term gains?

05 Nov 2017 09:58:08
I'm a celtic fan that comes in peace. I just wanted to point out that the accounts that have just been released are up to the end of June 2017. The £10m you spent in the summer isn't included in that.

05 Nov 2017 10:00:47
Another forecast of £3 million loss for trading period to 30/ 06/ 18, plus Pedro payoff, plus future manager compensation, plus funds for January window.
Can anyone explain where the funding to repay these loans is likely to come from as it's a good likelyhood that when king gets the cold shoulder that rangers will be not be able to do a shares issue.

05 Nov 2017 11:30:28
The transfer fees weren't paid up in full, far from it

05 Nov 2017 11:31:19
The accounts are only up to June with only one in and three out transfer so the bulk of pedro transfers still need to be paid for.
My main worry is DK (company) is now the only source of the loans, what happens if his guilty verdict is upheld by the court of session.

Will he be expelled as a director. Then what happens? . Another thing in the accounts transfer fees due in June next year and the following year is nearly £13m, so along with the deferred loans repayments that's over £20m to repay in June next year

05 Nov 2017 11:46:55
@robdoc - according to you lot we didn't spend £10 million. Make your mind up son.

02 Nov 2017 11:00:06
The front of the record today is all about solicitors and accountants taking millions of pounds from the pot to settle up old Co liquidation. The bit that gets me is the creditors list celtic, dundee u hearts and a few more football clubs on it - Why
Didn't CG have to pay the football debts before the SFA give us a licence
Why are they still included in the creditors list

Agree22 Disagree2

05 Nov 2017 11:32:26
How can someone disagree with the above, either CG Didn't pay this football debt or the record are using false information.

02 Nov 2017 07:12:50
I can't wait for Lord Bannatyne from the appeal boards decision on Dave King.

I get a feeling that he won't be dealt with as lenient as the south African courts have done with him previously.

What will be the funniest, justice for the pennyless Dave King or seeing the company accounts being published for rangers?

Could both happen in the same week or even the same day? For us Celtic fans that would be hilarious.

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03 Nov 2017 12:00:42
Easy peasy. . It's amazing the silence from rangers fans in regard to both these matters. ostrich and head in the ground comes to mind. 1. Court case king will be looked after by lodge, how wrong can they be. 2. Accounts won't be as bad as alleged, well they spent a fortune getting new players then sacking Pedro, and it's claimed another £1,5million to get sheep manager in. someone must have deep pockets or is it loans on the never never. Will be interesting to see comments from bears if any are interested.

03 Nov 2017 20:30:41
Wow, how bitter can people be over a poxy game.

04 Nov 2017 11:10:42
It, s funny to read the uneducated comments from the East side.
Yes our accounts do not make good reading but that is for the last 12 months which will not include current avents ie sackings but on positive side release from sports Direct strangle hold on merchandice
Can the unwashed see how much is left in there biscuit tin before coming onto our site?
Douneranger

05 Nov 2017 09:54:28
Agree with you cuillin72, these guys must wake up and first thing they think of is rangers, wtf, they need help, I believe a lot of them have personal issues that they don't want to face, so they therefore channel it all against a football club, that's right a football club, it's a sport, 11 guys kicking a ball about a park, it's meant to be a bit of fun, they really need to ask themselves, do I really care?

05 Nov 2017 10:01:00
Dounebear think the blue mist of jealous is blinding your ability to see reason. our biscuit tin has been replaced with proper functioning bank accounts were we deposit our winnings and sponsorship aligned with being the number one team in scotland. Oh just for your info your biscuit tin recently received a donation from eufa courtesy of our PROGRESS.

05 Nov 2017 13:46:39
Rangers annual accounts are rotten and suddenly "It's all a game, it's only football, a sport. " Well first off there are 276 creditors who are more than peeved with that lax attitude and coming from folk who sing about blood going up to folks knees I take your "It's only a sport" quotes with more than a bit of irony. Pathetic, roll on admin 2 most of you absolutely deserve it.

31 Oct 2017 08:29:23
Rangers agm 2016. announced 25/10/2016. Held 28/11/2016. Accounts circulated with announcent.

Rangers agm 2017. no announcements. no accounts.

WHY the delay, WHAT'S the issues?

Agree3 Disagree2

31 Oct 2017 15:27:45
Are the auditors refusing to sign off the accounts?

01 Nov 2017 06:52:46
Ask d king. He has the answer.

05 Nov 2017 09:55:47
Perfect timing 10

25 Oct 2017 09:33:44
When is our agm guys.

Agree0 Disagree4

26 Oct 2017 12:00:22
Published on another site it will be in December hosted in Qatar. It's doesn't make good reading where the money came from to support your summer purchases. As an ex serviceman myself, if this rumour is true, then rangers should be barred from hosting any events involving uniformed service personnel.

26 Oct 2017 14:21:21
Ha ha ha. Reading too much of John James blog. Utter nonsense.

27 Oct 2017 07:41:53
@10 - pot and kettle considering DD's bank has links to North Korea and financing military action in the Balkans.

28 Oct 2017 07:46:54
Union Jack, Where's your evidence to support that and when did North Korean troops fire on British servicemen. jjs at least provides some evidence to support his allegations.

28 Oct 2017 15:01:01
10. You've a cheek to say anything about evidence. How about some of your own.

29 Oct 2017 09:45:44
UJ you seem well read up on this celtic owner, but when I asked you about our accounts you were not as interested. According to last years accounts we Will repay the best part of £7m in December this year. I ask you here and now where do we get that money. Oh the directors will say they don't need it the now won't suffice. The auditor will need to know before signing off this year books. No signed off accounts no European football next season.

30 Oct 2017 22:02:23
No European Football this season either.

23 Oct 2017 18:13:27
just maybe Ashley settled with King because he knows he can come back and get the whole club for a song anytime he wants?
Nobody else would touch us with a proverbial barge pole.

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25 Oct 2017 12:38:08
Ashley will atempt to buy once he sells newcastle. and he will gain full control. yes nobody likes him. its totaly different from owning newcastle. only 1 other team to compete with unlike the premier ship.

25 Oct 2017 16:08:24
For a song? Which one PENNY ARCADE? I think that would be to rich

 


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