Big Rangers Administration/Liquidation Thread - All chat here!

[AberdeenBud]

Not trying to pour water on your obsessed blogger or defend the details from the meeting, some of which were pretty shitty (expected)

But £258 is not the average price of the adult ST, the majority are over £300.

What about the ST`s that are being paid in instalments, somehow I doubt this money has hit the bank account yet since it certainly has not left mine.

Its also being reported that Rangers have no O/D facility, how does that tie into his £1.5M negative balance at the end of last season.

I do not think he thought it through.

Hello Ted, not sure on the veracity of this, just seemed a bit more thought through than some of the pluck from thin air figures both 'sides' can grasp at. but,

1) Not sure on the season ticket prices, think they were taken from the interms and he is just guessing at the breakdown but the overall income will be the same, if the average is higher perhaps there is more concessions and less 'normal' ST holders.

2) He does say he is accounting for a finance company providing cash the ST's that are being paid in installments. I imagine this can be quite common practice at football clubs.

3) I read the negative balance for the end of this season, although he does state this is probably over egging your financial affairs given the astonishing 10million figure provided by the bonus happy financial director last night.

[AberdeenBud]

I'm hoping HBQC will be all over that spreadsheet like a tramp on chips.

[Taxi for Ben]

Don't forget to deduct 20% V.A.T. off your season ticket sales.

[K Dodd]

Don't forget to deduct 20% V.A.T. off your season ticket sales.

Yes, and don't forget they are exempt from VAT, NI and PAYE because they are the people,

[AberdeenBud]

1) the £258 is the lowest price Adult ST available in the whole stadium, only the rear Broomloan stand, upper govan ST`s are £360, Club Deck £400, he used worst case scenario and applied it to everything, hardly a way to build a credible argument.

2) If my instalments were managed by a finance company then I would have to sign a consumer credit agreement, I did not.

3) Yes I think he is guilty of over-egging.

Thanks for that info, was unsure how much faith to place in some of the figures, but he does see to have done his homework on some areas if not all.

TBH, it doesn't really matter, if Stockbridge's 10million figure was even remotely ballpark there's no way you can make the end of the season without further investment or administration.

[Fotbawmad]

An obsessed blogger has seemingly done ra peeps a favour and crunched the numbers for them;

Here is my SB sales calculation.

SB Income SPFL 13/14 as SPFL2

Adult - 29,000 £258 £7,482,000

Concessionary - 3,000 £179 £537,000

Child - 2,000 £65 £130,000

Total - 34,000 £8,149,000 call it £8m

Lets assume it has all been collected (installment payments being paid via a Finance co so The Rangers have the money.)

Lets also assume the £1,740,585 VAT due has not been paid (yet or ever)

So if they have £10m in bank there was only £2m in the start kitty for this season before £8M SB income added.

This seems really low compared to the £7m to £8m being reported, I had worked on a start figure of £7,5M and after adding other income and deducting expenditure reckoned they had a negative balance of £1.5m at end of season.

If however the start point is £2M then negative balance increases to £6.5m at seasons end. But that is with other income streams that are spread over the season (like match day tickets) without which administration hastens.

I have £22M as expenditure over the season so if they have £10M and spend is even over season they reach halfway say December before running out of gas, but if I were HMRC I’d be getting the VAT on the tickets in pdq.

I’ll hold off uploading calcs in case some clarification emerges to smooth concerns.

PS to get in the black by end of season the player weekly wage has to average £830 per week.

++++++++++++++++++++++++++++++++++++++++++++

Here is the spreadsheet that supports the above. The calculated bottom line is £8.360M and the £1m adjustment below it is to reflect the money (£7.3m) folk were saying is left in the kitty before last night’s meeting. That suggested £10m left including ticket sales so bottom line after adjustment for ST sales of £8m would be £2m.

In order to reflect that the adjusting figure should be raised to £6m which increases the red line at season end by £5m..

The file is at https://docs.google.com/file/d/0B62m3ggkEX2RZzZaYTFOYkUySjQ/edit?usp=drive_web but if you want to download to play around with the figures its at.

https://www.dropbox.com/s/ddilu3gk2y4iy85/Rangers%20Break%20even%20Bus%20Case.xls

The key is wages which are set at £3240pw to tie in with the wage bill total in the Interims. If £2m is the start point, the weekly wage would have to be around £850 a week to break even by season end. If the file is downloaded the variables like wages can be changed to see the impact on totals.

They don't have enough money coming in to cover the cost of their stadium and non-playing staff. Let alone pay their players top SPL wages.

Edited August 10, 2013 by Fotbawmad

[Bendarroch]

Then, as I'm a diddy clubber, I am noted as a complete w**k.

I imagine you thought that was quite clever.

[Bendarroch]

It's difficult to get Rangers fans to admit to anything - You deserve everything you get.

I'll happily admit this - what we'll get, inevitably, is a rise back to the very top of Scottish fitba. Once there - we'll be horsing your debt-ridden bunch of diddies all over again, time after time.

You know it, I know it, everybody knows it.

However, so we are clear, I can say with complete sincerity that I hope your club isn't there on our return because you have failed to manage the horrendous debt you have gathered. Even though - as publicly declared by the WKR - administration to shed that debt is a desirable path for Killie - I hope it completely and utterly destroys your club for decades to come. Your scabby, needy club, after all, has the supporters who begged the sporting wingers to please not boycott your ground pretty please.

You'll deserve everything you get.

[WhiteRoseKillie]

I'll happily admit this - what we'll get, inevitably, is a rise back to the very top of Scottish fitba. Once there - we'll be horsing your debt-ridden bunch of diddies all over again, time after time.

You know it, I know it, everybody knows it.

However, so we are clear, I can say with complete sincerity that I hope your club isn't there on our return because you have failed to manage the horrendous debt you have gathered. Even though - as publicly declared by the WKR - administration to shed that debt is a desirable path for Killie - I hope it completely and utterly destroys your club for decades to come. Your scabby, needy club, after all, has the supporters who begged the sporting wingers to please not boycott your ground pretty please.

You'll deserve everything you get.

I didn't say that, Bendarroch. You know it, I know it, Everyone knows it.

Administration and a takeover would be preferable to a long, protracted death under Johnston. That's what I stated. In the same way as protracted chemotherapy is preferable to dying of cancer.

I know it. You know it. Everyone knows it.

That you are taking satisfaction in clubs experiencing difficulty for whatever reason, and wanting them to join your old club in the morgue, sort of encapsulates why so many feel as they do about rangers, their Tribute Act, and the "fans" who claim allegiance to both. Strange, though, how you feel all your new club's "enemies" will die, when the most spectacular corporate suicide of recent years has resulted, in your deluded head, in "the same club, just a new company".

MT has you pretty well summed up. Buzzword bingo on every post, a complete denial of reality, abuse towards posters, and casual snide sectarian remarks as a garnish.

In other words, a stupid, repetitive, vindictive, ignorant, bigoted wee no-mark. It must realy piss you off that, no matter how loudly you crow the Party Line, you don't even get enough rep points from rangers posters to get out of the red. Even fucking Bennecky manages that.

Oh, and BTW - "Back"?

[theoriginalhedge]

I find it very sad that there has been no shame and no humility shown at all by The Rangers or their fans over the whole sordid , sorry mess that their club now finds itself in . You would think that after the events of a couple of seasons ago they would maybe think twice about overspending for success and the fans would keep them in their place . But no , here we go again . A club so desperate for world domination that they stop at nothing to get their own way.

They have become so used to riding roughshod over everyone and everything , that humility and reasoning doesn't even come in to their thinking.

All we can hope for is that they do implode again, only this time Charlie , do it right eh ? !!!

[Ken Fitlike]

Glenn Gibbons in the Scotsman with decent piece on Walter Smith's shifting loyalties...

http://www.scotsman.com/news/glenn-gibbons-walter-smith-s-shifting-loyalties-1-3039381

The first person in the comments section uses a term that I like....'Walter Myth'

[Bendarroch]

I didn't say that, Bendarroch. You know it, I know it, Everyone knows it.

But, WKR, it is what you meant. I can only guess it's another piss-poor attempt to hide your faked Killie credentials - you do know what you said, and that's why your hoping to disguise your latest shame.

You said: "It is beginning to look more and more as if admin is the only way that we'll get rid of the slimy currantophile. A price well worth paying."

I never thought I'd see the day when I had a hope shared with WKR - but there you have it, we both want the very worst for Killie. And I think that surely removes the very last doubt about your absolutely faked support for Killie.

What kind of supporter wants their club to face going down the fucking tubes, WKR?

Edited August 10, 2013 by Bendarroch

[Owsley]

I'll happily admit this - what we'll get, inevitably, is a rise back to the very top of Scottish fitba. Once there - we'll be horsing your debt-ridden bunch of diddies all over again, time after time.

You know it, I know it, everybody knows it.

However, so we are clear, I can say with complete sincerity that I hope your club isn't there on our return because you have failed to manage the horrendous debt you have gathered. Even though - as publicly declared by the WKR - administration to shed that debt is a desirable path for Killie - I hope it completely and utterly destroys your club for decades to come. Your scabby, needy club, after all, has the supporters who begged the sporting wingers to please not boycott your ground pretty please.

You'll deserve everything you get.

Just concentrate your mind on your new club making it unscathed to the end of the season, there's a good chap.

[Ken Fitlike]

Just concentrate your mind on your new club making it unscathed to the end of the season, there's a good chap.

'end of december' more like

[Dr Koop]

I'll happily admit this - what we'll get, inevitably, is a rise back to the very top of Scottish fitba. Once there - we'll be horsing your debt-ridden bunch of diddies all over again, time after time.

You know it, I know it, everybody knows it.

However, so we are clear, I can say with complete sincerity that I hope your club isn't there on our return because you have failed to manage the horrendous debt you have gathered. Even though - as publicly declared by the WKR - administration to shed that debt is a desirable path for Killie - I hope it completely and utterly destroys your club for decades to come. Your scabby, needy club, after all, has the supporters who begged the sporting wingers to please not boycott your ground pretty please.

You'll deserve everything you get.

You were doing so well. Nothing wrong with having ambitions for your club - then the la-la land entitlement pills kicked in.

You can't get back to where you've never been.

[Bendarroch]

'end of december' more like

It's an advance on October.

Typical dolly - nae ambition.

[flyingrodent]

Glenn Gibbons in the Scotsman with decent piece on Walter Smith's shifting loyalties...

http://www.scotsman.com/news/glenn-gibbons-walter-smith-s-shifting-loyalties-1-3039381

The first person in the comments section uses a term that I like....'Walter Myth'

That's the first article I've seen in the press that acknowledges two facts that have been absolutely central to the Rangers meltdown:

1) Contrary to what most hacks seem to believe, McCoist and Smith are not selfless and honourable men, and

2) Rangers are fvcked because they have the stupidest fans in British football, who will swallow, swallow anything they're told until it's too late.

It really is absurd that these two points appear to be almost unsayable in the Scottish press, this article aside, given that the Ibrox debacle would've been impossible if either was untrue.

Edited August 10, 2013 by flyingrodent

[K Dodd]

I'll happily admit this - what we'll get, inevitably, is a rise back to the very top of Scottish fitba. Once there - we'll be horsing your debt-ridden bunch of diddies all over again, time after time.

You know it, I know it, everybody knows it.

However, so we are clear, I can say with complete sincerity that I hope your club isn't there on our return because you have failed to manage the horrendous debt you have gathered. Even though - as publicly declared by the WKR - administration to shed that debt is a desirable path for Killie - I hope it completely and utterly destroys your club for decades to come. Your scabby, needy club, after all, has the supporters who begged the sporting wingers to please not boycott your ground pretty please.

You'll deserve everything you get.

^^^^^^^^^^

POLL:- 1 = Fud

2= Tim wum

3= Typical bun

[bennett]

Glenn Gibbons in the Scotsman with decent piece on Walter Smith's shifting loyalties...

http://www.scotsman.com/news/glenn-gibbons-walter-smith-s-shifting-loyalties-1-3039381

The first person in the comments section uses a term that I like....'Walter Myth'

The same Gibbons who used to be the editor of the Sellick view, that Gibbons?

[bennett]

An obsessed blogger has seemingly done ra peeps a favour and crunched the numbers for them;

Here is my SB sales calculation.

SB Income SPFL 13/14 as SPFL2

Adult - 29,000 £258 £7,482,000

Concessionary - 3,000 £179 £537,000

Child - 2,000 £65 £130,000

Total - 34,000 £8,149,000 call it £8m

Lets assume it has all been collected (installment payments being paid via a Finance co so The Rangers have the money.)

Lets also assume the £1,740,585 VAT due has not been paid (yet or ever)

So if they have £10m in bank there was only £2m in the start kitty for this season before £8M SB income added.

This seems really low compared to the £7m to £8m being reported, I had worked on a start figure of £7,5M and after adding other income and deducting expenditure reckoned they had a negative balance of £1.5m at end of season.

If however the start point is £2M then negative balance increases to £6.5m at seasons end. But that is with other income streams that are spread over the season (like match day tickets) without which administration hastens.

I have £22M as expenditure over the season so if they have £10M and spend is even over season they reach halfway say December before running out of gas, but if I were HMRC I’d be getting the VAT on the tickets in pdq.

I’ll hold off uploading calcs in case some clarification emerges to smooth concerns.

PS to get in the black by end of season the player weekly wage has to average £830 per week.

++++++++++++++++++++++++++++++++++++++++++++

Here is the spreadsheet that supports the above. The calculated bottom line is £8.360M and the £1m adjustment below it is to reflect the money (£7.3m) folk were saying is left in the kitty before last night’s meeting. That suggested £10m left including ticket sales so bottom line after adjustment for ST sales of £8m would be £2m.

In order to reflect that the adjusting figure should be raised to £6m which increases the red line at season end by £5m..

The file is at https://docs.google.com/file/d/0B62m3ggkEX2RZzZaYTFOYkUySjQ/edit?usp=drive_web but if you want to download to play around with the figures its at.

https://www.dropbox.com/s/ddilu3gk2y4iy85/Rangers%20Break%20even%20Bus%20Case.xls

The key is wages which are set at £3240pw to tie in with the wage bill total in the Interims. If £2m is the start point, the weekly wage would have to be around £850 a week to break even by season end. If the file is downloaded the variables like wages can be changed to see the impact on totals.

Ffs Happy, my heids bursting as it is this morning without that jumping out at me.