Finances

[EdTheDuck]

This £14M is no problem at all. The financial whizkids on Rangers Media point out that with the EL money earned so far (never mind in the KO stages) will more than cover this £14M because all the money they make in the EL goes straight into a big pot with no expenses whatsoever.

They'll be at least level with Celtic's finances for the season because of this because Celtic  despite having played 4 games in the UCL and the same number of EL group matches will see their turnover drop by about £40M.

So...y'know...

The other thing is finances don't matter because rangers, ken.

...

I take it this loss is all pre-Gerrard? What are next season's figures going to look like given the extra money spent on this experiment? I know they've done well in the EL but that competition does not make serious dough, certainly not enough to stem losses like this. Or is it, as King says, one off infrastructure costs and now they've done it there's no need to continue spending this kind of money?

Wait and see, I guess?

Edited November 1, 2018 by EdTheDuck

[Ross.]

2 hours ago, EdTheDuck said:

Or is it, as King says

Yeah. Must be that. History shows him to be the right guy to trust.

[wastecoatwilly]

Sevco will make 8 to 10 million in the Europa cup with out that it would've went tits up.

[Thistle_do_nicely]

15 minutes ago, wastecoatwilly said:

Sevco will make 8 to 10 million in the Europa cup with out that it would've went tits up.

they'll still be paying out bonuses, travel and accomodation costs, matchday expenses and other assorted variable costs associated with matchdays (tax, lol) but yeah, reaching the group stage and possibly even the knockout round will be a net plus for them overall.

If I was staunchly inclined, I'd be extremely concerned that it doesn't look to me like the £14M loss was made while assembling a squad that can dominate domestically for years to come and recoup that in transfer fees/CL revenue. They're chasing the dragon a bit, right down to being ruinously expensive, in terms of getting Back Where We Belong etc.

Edited November 1, 2018 by Thistle_do_nicely

[wastecoatwilly]

7 minutes ago, Thistle_do_nicely said:

they'll still be paying out bonuses, travel and accomodation costs, matchday expenses and other assorted variable costs associated with matchdays (tax, lol) but yeah, reaching the group stage and possibly even the knockout round will be a net plus for them overall.

If I was staunchly inclined, I'd be extremely concerned that it doesn't look to me like the £14M loss was made while assembling a squad that can dominate domestically for years to come and recoup that in transfer fees/CL revenue. They're chasing the dragon a bit, right down to being ruinously expensive, in terms of getting Back Where We Belong etc.

Dodgy Dave did say they needed European dosh to continue,if they've spent that on this squad and the losses continue to go up it's only a matter of time before the plug is pulled.

[Gaz FFC]

So the -£14M is from April 2018 right?

Can someone tell me the 2017 and 2016 figures?

[Darren1872]

1 hour ago, Gaz FFC said:

So the -£14M is from April 2018 right?

Can someone tell me the 2017 and 2016 figures?

They lost 6.5m (2017) So their losses have more than doubled, and thats before spending over 10m in transfer fees (signed more duds), and whatever else theyve spent on wages, loanees and paying off duds.

But its fine. Europa league covers it (according to **** in my work).

[Gaz FFC]

2 minutes ago, Darren1872 said:

They lost 6.5m (2017) So their losses have more than doubled, and thats before spending over 10m in transfer fees (signed more duds), and whatever else theyve spent on wages, loanees and paying off duds.

But its fine. Europa league covers it (according to **** in my work).

Cheers bud

[Al B]

[Jdog]

1 hour ago, Darren1872 said:

They lost 6.5m (2017) So their losses have more than doubled, and thats before spending over 10m in transfer fees (signed more duds), and whatever else theyve spent on wages, loanees and paying off duds.

But its fine. Europa league covers it (according to **** in my work).

They're fucking honking, and they probably don't take into account last week's court defeat by Ashley, which obviously will have heavy financial costs.

 

[cyderspaceman]

9 hours ago, Jdog said:

Restricted mentality, more like.

Beat me to it ... by 9 hours.

Edited November 1, 2018 by cyderspaceman

[Jdog]

Dave king would be chased out of an amateur club after 6 month for his bullshit, shows how fucked Rangers are that even doubling your losses every year is seen as heroic

[Bandstand]

https://www.google.com/amp/s/www.forbes.com/sites/mikemeehallwood/2018/11/01/steven-gerrards-rangers-announce-14m-loss-as-they-were-playing-a-match/amp/

[Jdog]

44 minutes ago, Bandstand said:

https://www.google.com/amp/s/www.forbes.com/sites/mikemeehallwood/2018/11/01/steven-gerrards-rangers-announce-14m-loss-as-they-were-playing-a-match/amp/

Forbes! ...pffft! Fuk do they know,?

[Bandstand]

11 minutes ago, Jdog said:

Forbes! ...pffft! Fuk do they know,?

Fhorbes is well known to be run by F*enians

[SilverWolfe]

Not at all surprised that Rangers fans are not worried about the finances. Standing back and watching their club die in front of their eyes seems to be the only thing they do well

[Gaz FFC]

Not big or clever to bring politics into football but I can't help notice the same people who are all rule Britannia and stick your independence up your arse are the same fans that don't see the problem here.

Gives me good ammunition the next time some no voting tosser is telling everyone on FB how you'd be insane to trust the SNP and we are fucked if we are independent.

Quite alarming how they have no issue with trusting Dave King.

[Hedgecutter]

On 03/11/2018 at 01:01, Gaz FFC said:

Not big or clever to bring politics into football but I can't help notice the same people who are all rule Britannia and stick your independence up your arse are the same fans that don't see the problem here.

Subserviently believing anything Sevco or the government of the Union Flag tells them genuinely seems to be 'the Rangers way'.

And when I say anything, I mean a-nay-thi-ng.

Edited November 13, 2018 by Hedgecutter

[sugna]

Quote

Court Ref.: P341/17
IN THE COURT OF SESSION
UNDERTAKING BY THE RESPONDENT
in the Minute of
THE PANEL ON TAKEOVERS AND MERGERS, 10 Paternoster Square, London 
EC4M 7DY 
PETITIONER AND MINUTER
for
in the Petition for orders in terms of section 955 of the Companies Act 2006
made on behalf of 
THE PANEL ON TAKEOVERS AND MERGERS, 10 Paternoster Square, London 
EC4M 7DY 
PETITIONER AND MINUTER
and
DAVID CUNNINGHAM KING, 34 Coronation Road, Sandhurst, Sandton 2196, 
South Africa
RESPONDENT
______________
I, David Cunningham King, the Respondent, hereby undertake to the Court to take 
the following actions, or procure that they are taken, in each case by the time 
specified:
1. Take all such steps as are required to instruct a third party cash confirmer in 
the United Kingdom (the “Cash Confirmer”) that is considered appropriate 
by the Panel and confirmed as such by the Panel in writing, as soon as 
practicable and in any event by no later than 17:30GMT on 14 December 2018, 
being the date that is two weeks from the date of this undertaking, to do all 
such things as are required in order to provide a public cash confirmation 
statement for the purpose of assisting Laird Investments (Pty) Limited 
(“Laird”) to make an offer for the entire issued share capital of Rangers 
International Football Club Plc (“Rangers”) on a fully diluted basis (or on 
such other basis as is agreed in writing by the Panel and the Cash Confirmer) 
(“the Offer”) including, if required, transferring all such funds as are required
into the United Kingdom.

 

Quote

5. To appoint a legal advisor by 17:30GMT on 14 December 2018 to undertake 
all such matters as are required to ensure that the documentation complies 
with the Code and to liaise with the Panel in relation thereto.

Haven't seen any reporting on these events, so I presume everything's still on schedule. Perhaps King will want to bring things forward ahead of the rest of the scheduled events, to allow him to provide Gerrard with funds for January.

Probably quite important, since he's claimed getting the money to the UK is difficult (and separately, given an assurance to auditors that the the funds can be made available as required, to allow the "going concern" basis for preparation of accounts).

[The DA]

19 minutes ago, sugna said:

 

Haven't seen any reporting on these events, so I presume everything's still on schedule. Perhaps King will want to bring things forward ahead of the rest of the scheduled events, to allow him to provide Gerrard with funds for January.

Probably quite important, since he's claimed getting the money to the UK is difficult (and separately, given an assurance to auditors that the the funds can be made available as required, to allow the "going concern" basis for preparation of accounts).

The poor lad must be so conflicted.  He'll feel like he's being pulled in two different directions at once.  At least he'll be able to see where he's going.