phart Posted October 24, 2018 Share Posted October 24, 2018 https://www.thescottishsun.co.uk/news/3392453/rangers-mike-ashley-sports-direct-lawyers-bill-high-court-battle/ Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted October 24, 2018 Share Posted October 24, 2018 26 minutes ago, Blackpool78 said: Ashley wins in the courts again with King having to pay costs In reality, the Sevconians are paying through their monthly donations (except they unsurprisingly don't realise it). Quote Link to comment Share on other sites More sharing options...
Toepoke Posted October 24, 2018 Share Posted October 24, 2018 4 hours ago, Blackpool78 said: Ashley wins in the courts again with King having to pay costs Quote Link to comment Share on other sites More sharing options...
theweestevie Posted October 25, 2018 Share Posted October 25, 2018 21 hours ago, Scotty CTA said: In reality, the Sevconians are paying through their monthly donations (except they unsurprisingly don't realise it). Actually, I think you'll find it is Celtic who are paying the costs... https://stv.tv/sport/football/1432183-spfl-clubs-get-4m-uefa-windfall-from-celtic-s-euro-run/?fbclid=IwAR3DZJ21zA4ebaP8tBQjsU-4IETsfOOXmM_Q812MxltIhZoUc1MaIwumVD4 Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted October 27, 2018 Share Posted October 27, 2018 This time, maybe. The courtroom saga will continue for a while yet. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted October 31, 2018 Share Posted October 31, 2018 Loss of £14m on a turnover of £33m. And that is pre gerrard spending spree. Holy shit. Quote Link to comment Share on other sites More sharing options...
giblet Posted October 31, 2018 Share Posted October 31, 2018 Figures released at 8pm on a night Rangers are playing. Debt problem Klaxon should be heard loud and staunchly proud. Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted November 1, 2018 Share Posted November 1, 2018 3 hours ago, ShedTA said: Loss of £14m on a turnover of £33m. And that is pre gerrard spending spree. Holy shit. Quote Link to comment Share on other sites More sharing options...
Ormond Posted November 1, 2018 Share Posted November 1, 2018 3 hours ago, ShedTA said: Loss of £14m on a turnover of £33m. And that is pre gerrard spending spree. Holy shit. Pleasing. Quote Link to comment Share on other sites More sharing options...
Scotty CTA Posted November 1, 2018 Share Posted November 1, 2018 Sevco are too big to fail. Quote Link to comment Share on other sites More sharing options...
mccaughey85 Posted November 1, 2018 Share Posted November 1, 2018 14m losses for a team that went bust a few years ago is unbelievable. My rangers mates don't seem to bothered but surely that kind of loss has to be worrying for rangers fans. This isn't including gerrards spending spree plus the fans will be expecting players to bought in January as well. Quote Link to comment Share on other sites More sharing options...
Ormond Posted November 1, 2018 Share Posted November 1, 2018 27 minutes ago, mccaughey85 said: 14m losses for a team that went bust a few years ago is unbelievable. My rangers mates don't seem to bothered but surely that kind of loss has to be worrying for rangers fans. This isn't including gerrards spending spree plus the fans will be expecting players to bought in January as well. Rangers fans are incredibly dumb in general though. They believe they really are the people and unlike the rest of us who would be mightily concerned about this for our own clubs the Huns ignorance and arrogance is everything. Quote Link to comment Share on other sites More sharing options...
Rolling hIlls Posted November 1, 2018 Share Posted November 1, 2018 £14 million is less than i expected. These are a good set of figures. Dave King agrees. The size of the rebuilding of the mess was/is huge. But revenues will continue to increase and the debt will level out. Simple business planning. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 1, 2018 Share Posted November 1, 2018 18 minutes ago, Rolling hIlls said: £14 million is less than i expected. These are a good set of figures. Dave King agrees. The size of the rebuilding of the mess was/is huge. But revenues will continue to increase and the debt will level out. Simple business planning. 😱 Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 1, 2018 Share Posted November 1, 2018 5 hours ago, mccaughey85 said: 14m losses for a team that went bust a few years ago is unbelievable. My rangers mates don't seem to bothered but surely that kind of loss has to be worrying for rangers fans. This isn't including gerrards spending spree plus the fans will be expecting players to bought in January as well. That's probably because the losses have been sustained by wealthy individuals and big equity swaps. But £14m or even half that a year is not sustainable. Quote Link to comment Share on other sites More sharing options...
Tartan_McCole Posted November 1, 2018 Share Posted November 1, 2018 37 minutes ago, Rolling hIlls said: £14 million is less than i expected. These are a good set of figures. Dave King agrees. The size of the rebuilding of the mess was/is huge. But revenues will continue to increase and the debt will level out. Simple business planning. The worrying thing is, this tends to be the general mindset of a Rangers fan. At least an online one. They're like the black knight in Monty Pythons Holy Grail. Quote Link to comment Share on other sites More sharing options...
Rolling hIlls Posted November 1, 2018 Share Posted November 1, 2018 Did you expect rangers to start making a profit right away. Not the way big business works. As long as they stick away from ebt's which was the downfall we will be ok. Quote Link to comment Share on other sites More sharing options...
SMcoolJ Posted November 1, 2018 Share Posted November 1, 2018 20 minutes ago, Rolling hIlls said: Did you expect rangers to start making a profit right away. Not the way big business works. As long as they stick away from ebt's which was the downfall we will be ok. If that’s truly what you think then you are exactly the type of person the current Board is trying to keep happy. EBT’s weren’t the downfall. It was spending way beyond you means that was the downfall. The exact same thing as is happening right now. You need £4.6m to survive this season alone. You still owe £15m in transfer fees. The auditor has stated material concerns for Rangers remaining a going concern. There could of course be a significant benefactor that these accounts do not take into account. Failing which, if I was a Rangers fan I’d be very unhappy with these accounts and the way in which the club is being run. Quote Link to comment Share on other sites More sharing options...
Pool Q Posted November 1, 2018 Share Posted November 1, 2018 It’s pretty obvious they can’t service the debt from normal operating revenues, I can understand the auditors comment. So ongoing external investment will be required which, at this stage, would concern me. Still in ‘Sugar Daddy’ territory rather than really fixing the fundamentals. Quote Link to comment Share on other sites More sharing options...
mccaughey85 Posted November 1, 2018 Share Posted November 1, 2018 3 hours ago, Rolling hIlls said: £14 million is less than i expected. These are a good set of figures. Dave King agrees. The size of the rebuilding of the mess was/is huge. But revenues will continue to increase and the debt will level out. Simple business planning. 14m was less than expected. Wow. Rangers need to learn what other Scottish clubs know already and that's to live within their means. The rebuilding is not exactly working either, they are still way off Celtic. How many more years will they be running at losses like this. If Dave king thinks those are good figures then rangers are in big trouble. Quote Link to comment Share on other sites More sharing options...
mccaughey85 Posted November 1, 2018 Share Posted November 1, 2018 8 hours ago, Ormond said: Rangers fans are incredibly dumb in general though. They believe they really are the people and unlike the rest of us who would be mightily concerned about this for our own clubs the Huns ignorance and arrogance is everything. Lol without sounding nasty this actually seems like the case. They seem to bury their head in the sand over this issue. Quote Link to comment Share on other sites More sharing options...
Tartan_McCole Posted November 1, 2018 Share Posted November 1, 2018 1 minute ago, mccaughey85 said: 14m was less than expected. Wow. Rangers need to learn what other Scottish clubs know already and that's to live within their means. The rebuilding is not exactly working either, they are still way off Celtic. How many more years will they be running at losses like this. If Dave king thinks those are good figures then rangers are in big trouble. I would imagine they'll keep pissing their money away at a furious rate if the chance to stop 10 in a row is still there. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 1, 2018 Share Posted November 1, 2018 2 hours ago, Pool Q said: It’s pretty obvious they can’t service the debt from normal operating revenues, I can understand the auditors comment. So ongoing external investment will be required which, at this stage, would concern me. Still in ‘Sugar Daddy’ territory rather than really fixing the fundamentals. This is it, as long as they have people willing to put in, it's fine. But 14m a year is crazy. It just can't continue indefinitely. They need to balance income and exp. eventually. Quote Link to comment Share on other sites More sharing options...
thplinth Posted November 1, 2018 Share Posted November 1, 2018 On 3/23/2017 at 11:04 AM, EddardStark said: RIFC results to 31st Dec show a profit. On 3/23/2017 at 11:42 AM, theweestevie said: Encouraging especially since we have F all coming in from merchandise. On 3/23/2017 at 12:07 PM, GRBear said: Yep profit of £0.3m which could well be in the millions if we had control over our merchandise. On 3/23/2017 at 7:27 PM, RenfrewBlue said: I love how these figures are treated as untrustworthy by posters on here, who probably couldn't wait to crow about them last year when they showed a loss. The great hypocritical TAMB. ? How did that year work out for you in the end? Quote Link to comment Share on other sites More sharing options...
killiefaetheferry Posted November 1, 2018 Share Posted November 1, 2018 3 hours ago, SMcoolJ said: If that’s truly what you think then you are exactly the type of person the current Board is trying to keep happy. EBT’s weren’t the downfall. It was spending way beyond you means that was the downfall. The exact same thing as is happening right now. You need £4.6m to survive this season alone. You still owe £15m in transfer fees. The auditor has stated material concerns for Rangers remaining a going concern. There could of course be a significant benefactor that these accounts do not take into account. Failing which, if I was a Rangers fan I’d be very unhappy with these accounts and the way in which the club is being run. So 14m already gone as a loss, and another 20m in transfer fees and running costs already in the mixer this season ? Seriously ? Are they not still due to lay out a massive amount to Big Mike ? What about a transfer fund for Stevie G in January ? I honestly didn't think it was that bad. Quote Link to comment Share on other sites More sharing options...
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