Bearwithme Posted October 2, 2013 Share Posted October 2, 2013 And of course it was stuttering. You failed to win 1/3 of your games despite spending sums which reduce the rest of the division to fractions of 1%. You didn't even reach the Semi-Finals of the Challenge Cup. This season you didn't reach League Cup R2. All despite spending millions per month, with presumably the best-renumerated manager in Scotland? Whether or not you believe it's sustainable - how any Rangers fans can regard things as anything other than a gargantuan waste of money is beyond me. Clubs like Livingston and QotS coasted divisions on a few hundred thousands. Rangers are burning tens of millions. What happened to banking-up money in the lower-leagues to create a mighty "warchest"? Fair point.. Ah, of course . Didn't realise the Challenge Cup was part of the league. And I stand by my point about winning the division by 24 points. I'd take "stuttering" like that every time. 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted October 2, 2013 Share Posted October 2, 2013 (edited) I can see your point, but remember McCoist claims he didn't know how much he was earning or how long the contract was for. someone put it in front on him and he just signed it without looking or asking any questions Thats a soundbite Rico, nothing more - nothing less. Edited October 2, 2013 by bennett 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted October 2, 2013 Share Posted October 2, 2013 Just seems strange James payment in the last financial year matches sandy's share procurement, if at 1p a share! Surely rangers aren't paying folk to buy their shares? It sure is but i doubt anyone who posts on here can give you an answer. Apart from HBQC maybe.... 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted October 2, 2013 Share Posted October 2, 2013 Thats a soundbite Rico, nothing more - nothing less. No, it was a lie. Two entirely different things. 0 Quote Link to comment Share on other sites More sharing options...
~~~ Posted October 2, 2013 Share Posted October 2, 2013 Thats a soundbite Rico, nothing more - nothing less. Lol wut? He said he didn't know how much it was worth of the length of the contract. The guy is either a lair, an idiot or both 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted October 2, 2013 Share Posted October 2, 2013 No, it was a lie. Two entirely different things. Nope usually they're the same thing. 0 Quote Link to comment Share on other sites More sharing options...
Bookies Love Me Posted October 2, 2013 Share Posted October 2, 2013 No, it was a lie. Two entirely different things. Ffs you're talking to a rangers fan. We know they are two entirely different things. But, they only see what they want to see, and take it a gospel when it is issued from ibrox. 0 Quote Link to comment Share on other sites More sharing options...
Frank de bear Posted October 2, 2013 Share Posted October 2, 2013 (edited) They have a five year plan ... and a bunch of mugs loyal supporters willing to dig deep. Wait until the begging bowl next share issue is released ... you can imagine the spin being produced ... :lol: :lol: You do realise that pacific shelf 585 ltd formed in 1994 needed not 1, not 2 but 3 share issues in the space of 6 years to break even??? Edited October 2, 2013 by Frank de bear 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted October 2, 2013 Share Posted October 2, 2013 You do realise that pacific shelf 585 ltd form in 1994 needed not 1, not 2 but 3 share issues in the space of 6 years don't you? Still not read the subject line on this thread, yet? 0 Quote Link to comment Share on other sites More sharing options...
caleyjags1994 Posted October 2, 2013 Share Posted October 2, 2013 For every £5 they raise they'll spend £10 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted October 2, 2013 Share Posted October 2, 2013 I don't think McCoist is a liar for saying he just signed a contract but I do believe he and his agents stupid for not reading it. 0 Quote Link to comment Share on other sites More sharing options...
ribzanelli Posted October 2, 2013 Share Posted October 2, 2013 But but but what about them in the East end? Just been catching up, Frankie de bear must be a timposter! 0 Quote Link to comment Share on other sites More sharing options...
Frank de bear Posted October 2, 2013 Share Posted October 2, 2013 from TSFM; Re: accounts, after a better look this morning. Firstly, still not convinced that the turnover doesn’t include some 2013/14 season ticket money, but for the purposes of this I’ll say it doesn’t. I’m also going to ignore the profit and loss side of the accounts, as they are made kinda meaningless by things like ‘negative goodwill’. Figures which are useful though: Costs – 33m over 13 months. Add to this another 4m of non recuring costs such as IPO/player transfer fees etc. Revenue – 8m season tickets, but 13.2m gate receipts. That means 5.2m over 18 games on walk in’s/hospitality, or 288k a game. (too high in my opinion) Remember these numbers, we’ll come back to them. Now we’ll move onto the balance sheet. First thing to do is ignore the fixed assets as they are meaningless figures plucked from thin air. Look instead at current assets and liabilities: Assets: Trade and other receivables 5,231k Cash and bank balances 11,198k Total 16,514k Liabilities: Trade and other payables 6,273k Obligations under finance leases 694k Deferred income 8,156k Firstly, 11.2m in the bank on 1st of July. Included within cash and bank balances is £946,000 relating to Rangers Retail Limited, which is not immediately available as working capital to the Group as a whole… So really only 10.2m available to the club. Now, trades. 5.2m is owed to RIFC by other companies. 2.4m of this is season tickets bought on installments, so there is cash to come in which takes the cash available to 15.3m. Now, liabilities. Trade is 6.2m. That means they owe 6.2m to other business… more than they are owed. defered income, explained in note 19 as season ticket money. This is normal for a football club. We can argue all day long about whether this is included in the profit or loss account, but it is clear as day that it is included on the balance sheet. It is a liability as they have already sold these. As seen in the assets, they are still owed 2.4m from this 8m. Therefore, there is 5.6m outstanding – the only place in my opinion for this to be accounted for is in the cash balance. So, 15.3m – 6.2m – 5.6m = 3.5m. So, as of June 30 Rangers had only 3.5m to cover any losses for the season ahead. Seeing as they lost 14m (18m once you include the non recuring expenses) this means major cut backs. Now, what revenue is coming in? Lets go back to the beginning – 5.2m over 18 games, or 288k a game. So maybe another 5-6m over the course of the season. More sponsorship? Doubt it, as it looks like its already included. Then lets look at the 33m expenses, or 2.5m a month. At 1st July they had 10.2m in cash. They owe 1m more in liabilities to trade then they will get, so net balance is really 9.2m. They are spending 2.5m. Each month they receive 550k of match day income (based on 2 home games), so a net loss of 2m. 9.2/2 gives 4 1/2 months, or middle of November. Other income – maybe – lets be kind and give them 5m over 13 months like they claim, or another 380k/month, reducing net loss to 1.6m/month. 9.2/1.6 gives 5.75 months, or, end of December. I don’t see any other way, and these accounts prove it. In early 2014 Rangers need a fresh injection of capital, or they have to take 1.5m off their monthly costs. Meanwhile, TRFC is 16.1 m in debt to the parent company RIFC and growing at probably 1.6m a month, so around 21m as of today. RIFC will not go bust, but TRFC will either need to have a share issue, a billionaire benefactor, or cut costs to prevent admin. TSFM=a bunch of ex-tax case crackpots/bigots who spent over 2 years foaming at the mouth telling anyone who would listen that Rangers would lose the BTC. Hmmm how did that go again? 0 Quote Link to comment Share on other sites More sharing options...
scottxs Posted October 2, 2013 Share Posted October 2, 2013 Last I heard they were appealing the decision. Besides was it not the case that rangers were guilty of some of the charges. 0 Quote Link to comment Share on other sites More sharing options...
Ned Nederlander Posted October 2, 2013 Share Posted October 2, 2013 Seriously tho... thats shocking and confirms what the bears on here have been saying regarding overspending... Really Grated I've not been on P&B much recently - let alone this thread - but it was full of 'Rangers' fans not giving a shit about every one declaring the spending absolutely absurd last time I was on (Although I acknowledge that you were not necessarily one of them ) 0 Quote Link to comment Share on other sites More sharing options...
Bookies Love Me Posted October 2, 2013 Share Posted October 2, 2013 TSFM=a bunch of ex-tax case crackpots/bigots who spent over 2 years foaming at the mouth telling anyone who would listen that Rangers would lose the BTC. Hmmm how did that go again? IT KILLED YER TEAM 0 Quote Link to comment Share on other sites More sharing options...
Ken Fitlike Posted October 2, 2013 Share Posted October 2, 2013 If the Rangers support want to concentrate the minds of the spivs they should totally boycott (yes, I know!) the next game. I mean what does the fixture actually matter? A totally empty stadium would demonstrate that the taken-for-granted gullible source of spiv pension fund donatees are saying 'enough'. Focus the anger on the sinister carpet-baggers rather than externally on your 'enemies' - who mostly exist in your bunker mentality agendas 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted October 2, 2013 Share Posted October 2, 2013 He's back! You do realise that pacific shelf 585 ltd formed in 1994 needed not 1, not 2 but 3 share issues in the space of 6 years to break even??? TSFM=a bunch of ex-tax case crackpots/bigots who spent over 2 years foaming at the mouth telling anyone who would listen that Rangers would lose the BTC. Hmmm how did that go again? 0 Quote Link to comment Share on other sites More sharing options...
Frank de bear Posted October 2, 2013 Share Posted October 2, 2013 IT KILLED YER TEAM Not what Uefa seem to be saying. Mind you a bunch of hate filled bigots on here know a lot more than Uefa don't they?? http://www.uefa.com/memberassociations/association=sco/news/newsid=1943008.html It represents the Hoops' 44th league crown, leaving them ten behind rivals Rangers FC, who were absent from the top flight for the first time this season. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted October 2, 2013 Share Posted October 2, 2013 (edited) http://www.followfollow.com/news/tmnw/rangers_financial_results_fall_well_short_of_board_expectations_808849/index.shtml http://www.eveningtimes.co.uk/rangers/question-time-on-rangers-accounts-138068n.22315330 Edited October 2, 2013 by AberdeenBud 0 Quote Link to comment Share on other sites More sharing options...
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