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aDONisSheep
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Posts posted by aDONisSheep
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His writing style makes my eyes bleed. If he doesn't get a response to his list of questions, it's probably because they write him off as a semi-literate lunatic.
I agree, and in addition would say;
He has no right to a response. NewCo are a listed company, they can't give out financial info just because some hack asks a question. It is almost dishonest that he has led his readership to believe that they can.
I have no doubt that NewCo have cash issues, but this is not the way to get to the bottom of it.
Yours
aDONisSheep
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Rangers fans are cautious but most of the crackpot bigots on here who all seem to have an accountancy degree from Harvard university have no idea what they are ranting about most of the time.
Been a number of lies posted from the usual suspects. Rangers accounts were not great by any means but they are far from disastrous.
Lets put things in context here Rangers posted a bank balance of £11m from June 2013 at the same time Celtic plc posted a bank balance of only £3m!!!! And that's with them playing last 16 CL football and selling 2 sets of Season tickets at Spl prices.
Rangers loss was around £600,000 per month at the time of the accounts, hardly a shock considering Rangers recieved zero money from retail becuase JJB went under and a 33% cut in income from ST ticket sales from 11/12.
Rangers also had massive one off costs which made the accounts look a lot worse than normal.
600k to investigate Green - P&L but not part of your operating loss, this was part of the additional £4.3 of exceptional items.
£1m on new jumbo screens - Balance Sheet
400k New L.E.D advertising borads - Balance Sheet
£2.4m Buying back club assets - Balance Sheet
£6.7m in IPO start up costs - Balance Sheet
Running the club for 2 months with zero income in summer 2012 - P&L
£6.7m loan used to buy the club. - Balance Sheet
£1m on Wifi at Ibrox - Balance Sheet
Legal costs - P&L unless capitalised as part of Asset transaction.
Signing almost an entrie team of players - P&L but this is not a one off. You've signed 9 players this season!
Rangers may need extra money from season 2014/15 but about 90% of the clubs in Scotland are in the same boat right now.
You're in danger of confusing balance sheet items with P&L items.
Now both affect cash, but one has a significantly lower P&L impact than the other.
The Chuckles investigation £600k was not part of the £14.35m operating loss.
Balance sheet items are also not passed directly through the P&L (only the depreciation and amortisation charges are), of which these figures do not include a full years charge.
As far as cash is concerned NewClub has probably chunked through circa £35m (excluding the costs of running the IPO). But as you pointed out a good £11.5m was spent on Assets.
If you think that your ongoing losses have dropped from £1.1m pm to £0.6m pm then I think you're being optimistic. But even if that is the case, that is still an operating loss of £7.2m p.a. and you've probably got another two years of that coming.
Yours
aDONis
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£409,000
7. DIRECTORS’ EMOLUMENTS
Salary and 13 month
Payroll Severance Benefits in period to
Benefits Fees Payments Bonus Kind 30 June 2013
Executive
Brian Stockbridge 409,308
Charles Green 933,376
Malcolm Murray 52,222
Craig Mather 58,557
Imran Ahmad (ex-Commercial Director of
The Rangers Football Club Ltd) 303,247
Non-Executive
Walter Smith 50,000
Ian Hart 28,228
Bryan Smart 28,228
Philip Cartmell - 29,168
James Easdale - 29, 172
Aye, but that was for 13months and included a bonus for £200k which he says, he's not taking this year.
Or as Brian STockbridge would say (as he often does) "If you think of it this way", I've raped the club, but I promise to be more romantic next time.
Yours
aDONis
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What I can't believe is that he doesn't know his own accounts!
He repeated three times that in the £14m loss were £4m of non-recurring items. No they weren't. The £4m of non-recurring items were in addition to the £33m spunked on running the company.
It's also a complete fallacy to say that the 93% wages to turnover is not a key figure, but that people should focus on the 43% for players. Should they fvk! A high cost base is a high cost base, it matters not a jot, what the split between playing and other staff.
To think SevCo are paying him £150k+ in salary for this shyte.
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Oh yes.
Only 200 allowed in and they made sure people with incisive mental capacity git their chance to ask the tough questions.
To be fair, it's a step on from "what school did you go to?"
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They're not bigots you know.
Well maybe just the odd one........
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I am that sad lad that works from home so can listen to it.
Nothing controversial IMHO, only stuff we knew;
Sandy Jardine "couldn't run a bath", and was laughed at for marching on an empty Hampden.
Ally McCoist is a "crap" manager, who should have been emptied, but who's probably only kept his job, because the shyt hit the fan.
Paul Murray is a waste of oxygen, and the Blue Knights were as much use as a chocolate teapot.
The SFA and SPL boards were desperate to keep some sort of "Rangers" in the mix, and "shat it" when Bill Miller told them their concessions hadn't gone far enough.
Dead Rangers were fvkked before Nookie Bear even got in the front door.
Ticketus fvkked up their contract because it was written under English law, so what they deemed as low risk, meant they lost the lot.
Fudd & Phlaps had a hotline to the Scottish Government.
Yours
aDONis
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There's no need to exagerate, I believe it's only circa 310 to 320 criminal charges.Even poorer from you......
Civil cases are done almost, but still outstanding are the more than, what is it tedi ? , over 400 criminal charges....
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The Murray Rangers is dead! This latest fiasco, is about who owns the assets purchased from the dead-club, and whether there was a fraud perpetuated in that asset purchase.Whyte & Ticketus still being investigated and then we now have Green & Whyte involved in something dodgy.
If the Whyte scenario when buying Rangers from Murray turns out to be fraud then who the feck do you think will be back in control of Rangers PLC ?.
Is it possible folks that if Whyte is found to have committed fraud in purchasing Rangers PLC that Sir Minty Moonbeams will acquire Rangers FC and all it's assets back as a victim of fraud,and everybody after that gets fucked over by Minty as they were in receivership of stolen goods ?
.Yours
aDONis
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I'm not sure what ASA can say.
SevCo bought the rights to trade under the name of Rangers and the other chattels that went with it. They paid about £1 (or £3 if you throw in the fact that they claimed to have bought the SPL share and SFA membership IIRC).
The ASA aren't going to look into the underlying process of the dead club to SevCo debate. They are simply going to say, SevCo bought the rights and as such, can use them.
Yours
aDONis
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Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted
Legally my erse!
They are not obliged to respond to some hacks questions and certainly not in any legal sense. Their obligation is to their shareholders and they should not be disclosing financial information that could affect their share price (either way) to a third party before they inform the stock exchange.
It is completely disengenuous for Phil Macgiolla Bhain to pretend otherwise.
It undermines credible argument, to pretend that they have such an obligation.
He can ask all he likes, but he has no right to a response.
Yours
aDONisSheep