Rangers Rumours Archive April 09 2013

09 Apr 2013 22:29:23
So much negativity on the site anytime someone suggests anything!

Rangers turnover was 30m and even if there is no rise in that turnover until we get to the spl in 24 months it is still 10m per year based at the 1/3 wages cap on wages or just under 190k per week. that's a shed load of free transfers!

The 30m turnover does not include money in the bank and will be used for Greens Consortium loan and original purchase of the club which he said at the start plus the running costs to get us back to the spl.

Come our return to the spl our turnover will be 40m which will give the club plenty to spend.

I do think green is mental and full of it 90% of the time and we will get plenty of flak in the next two years but from where we were who cares. "No one likes us we don't care"remember?

So cheers up ffs.

Hopeful bear

Dear god! No mention of any expenses at all. What about Tax, VAT, utilities Policing, social taxes or do these not count in your world? Add on the private healthcare, transportation, leased cars and incidental expenses as well.

09 Apr 2013 23:21:17
Why not wait for the AUDITED accounts to be released and then you will know exactly where and what monies are available before making rediculous claims re revenue and war chests this has been your downfall for decades ie spending money you don't have. johnnyG

Rangers are projected to have an operating loss of 3.5 million with a 7.5 million wage bill, you are suggesting this will be increased to 10 million.
20% on ticket prices only raises 2 million leaving an operating loss of 4 million for the next two years, and this is assuming ALL season tickets are renewed.

No more losses will be tolerated, the honeymoon period is over, forget 10 million, the wage billl will be 6 million and Rangers break even for the next 1 or 2 years, maybe. depending on the fans.

This was never going to be easy, every bidder knew it, increasing prices and reducing quality is a counter intuitive business model.

After watching that charles green interview I am moderately sceptical about anything he's said to be honest. james

£30m turnover?,
This season turnover will be lucky to be half of that. £9.6m for the 1st 7 months and that includes ST monies. Final 5 months income will be a small fraction of this, basically walk up receipts from home matches.
If 10k fans pid on matchdays at an average of say £12 that's £100k nett of VAT. 10 home games since January makes income of only £1m plus wee bits of hospitality etc.
Total income will be lucky to be above £12m.
We're still spending circa £2.4m a month according to unaudited figs, therefore a potential loss of around £15m could be on its way. Green said audited accounts will contain next years ST money. Allowing for a 20% increase and the same take up as this season that's around £8m net. so still a possible loss of £6-7m with NEXT seasons ST money already spent,
Unless there is massive cost cutting, along with more injections of cash, we're heading for the scrapheap, again.
There can be no £10m warchest for Ally or whoever. there is no money and won't be any significant money for years, if ever.
It really is time for the fans to get their heads out of the sand. Face reality. thing are bad and in the short term, they're only going to get worse!.

To the clever chap who post "dear God"That's what the other 20m is for or can't you add or have you not had a look at the prospectus. Oh wait your one of these guys who doesn't pay anything to the club!

You 've pretty much summed up what I m saying that everyone just gets slagged when they post thank you you half wit. Why do people like you bother?

This season's turnover will be just under 30 million as per the December prospectus incurring a loss of 3.5 million, you cannot invent turnover in a prospectus, it is illegal. The turnover details were broken down into revenue streams, 10 million in ST sales and hospitality, and 20 million in sponsorship, TV, advertising and merchandising.

Things are bad enough and I see no value in inventing losses that don't exist, to put it bluntly if Rangers were losing the money you suggest then CG would be on the phone to a receiver and his investors would be on the phone to the police. You cannot defraud investors by inventing profit and loss figures in a prospectus. unless you are a bank.

No one believes this is going to be easy and there are risks, but to suggest such a low turnover against known operating costs is ludicrous.

Yes everything well almost everything is negative with regards to this site, and the reason is, there is nothing POSITIVE coming out of ibrox and won't be for the forseeable
future. Anyone who thinks differently
is seriously deluded with what's been
reported these past few days. For me its time for kerr, dingwall and graham
the three stooges to convene a meeting for rangers fans and listen to what the fans have to say, and for them to act on our behalf, after all they portray themselves as representatives for the fans. We need answers not in fighting on what the future holds for rangers. jimbo

£10m p/a in salaries is £200k per week, the first team are on up to £150k between them, then you have Ally and the other director's salaries, so standstill now we are at £200k per week without taking on any other players. As we have discovered, Ally signed the journeymen last summer on 4 year contracts with salaries sliding higher for each year of their contract, so an increase in season tickets merely covers pay rises for existing players. I full expect CG to be charging SPL prices for the season tickets in D2 as he can't afford not to.

Rangers will survive on a 6-7 million wage bill until they return to the SPL, only then will investors funds be released to bolster the squad. Rangers should not need more than 6 million to get back into the SPL and its nuts to suggest a war chest to win lower tier football matches.

Please note this war chest will not mean high wages, it will cover the cost of transfer only, Rangers wage bill will be maintained at 33% of turnover, in the lower divisions it will be 20%.

The best way to look at the new Rangers is through their players wage bill, under SDM-CW it was 30 million, and on returning to the SPL it will be 12 million at the very most. I believe Celtic's is around 20 million.

Season ticket prices will rise by 20% to cover the increase in players wages, first team wages this year are 7.5 million and not 10 million, they include the backroom staff in their figures. I imagine they have built in a factor for a drop in season ticket renewal.

If Rangers break even or incur a 5million loss to get back into the SPL then that is a huge positive.

If you listen to the 3 stooges then your club is back in administration, football fans are not interested in commercial reality. Rangers fans in particular have been living in cloud cuckoo land for over a decade.

Most of the investment money is being held back until Rangers is back in the SPL, if the fans start mouthing off before they are in the SPL then this money and the assets will vanish.

These people are businessmen not punchbags.

10 Apr 2013 22:48:08
Anyone else wondering why you are so sure rangers will be back in top flight in 2years? You're assuming you'll be promoted each year. With the quality football we have watched this year, do you really think it'll be that easy?

If Rangers cannot win div2 and div1 with a 6-7.5 million wage bill then there is something drastically wrong. Rangers played poorly and walked div 3, and they will probably play poorly and still win div2 and div1 with some ease.

09 Apr 2013 13:11:33
Rangers chief executive Charles Green has asked Ally McCoist to consider sacking Ian Durrant and Kenny McDowall from the Ibrox club's coaching set-up as part of Green's restructuring plans. (Daily Record)

if true, surely constructive dismissal by the coaches. Charlie is going to spend the next year in a procession of court cases at this rate.

Green obviously doesn't have the guts to sack McCoist. He wants him to resign in disgust.

It is obvious what CG is up to. He is doing exactly what he did at Sheffield United. McCoist is next on the list. He is trying to provoke Ally into resigning. The whole place is in chaos. We will end up in court cases for years.

Clearly trying to back Ally into a corner so he walks.

Speaking at a news conference ahead of a friendly against Linfield, McCoist said: “I can confirm to you that I have not entered into any discussions at all with Charles [Green] regarding Kenny or Ian.

“On that subject all I would say is in the last five years that Kenny and myself were with Walter [former boss Walter Smith] we have won three SPL titles, some cups, got to a European final and then we had a season under Craig Whyte [former owner] and then we won a title again this year.

“So that’s all I’ve got to say on that matter, I’m not going to take it any further. ”

Just can't understand why Green has waited so long to embark on a cost cutting exercise.
Perhaps he should start by refusing his share of the £3,000,000 bonus for winning the SFL3.

CG did hint in the prospectus that the operating loss projected for this year was down to a smaller than anticipated turnover.

I think he was a little surprised at the drop in revenue streams and the belts and braces employment contracts of the 200 non playing staff, he just can't get around these two hurdles. He can only raise ST prices and reduce players wages, which is not going to go down well with the fans and management.

The success or failure of Rangers lies in the hands and deep pockets of the fans until Rangers get back in the SPL.

CG knows this and Ally knows this, that is why he is delaying his call for season ticket renewals on spurious grounds ( don't know what league set up will be).

Its a quiet threat to CG that he is not some pushover and he can affect season ticket sales with one interview.

10 Apr 2013 22:29:05
He's affecting season ticket sales alright with his crap management skills & team! Boot him out Charles please!

09 Apr 2013 09:00:40
What is happening regarding the enquiry into Duff and Phelps handling of the period of administration?
This must be brought forward as a matter of urgency looking in particular as to whether all bids were dealt with fairy and whether the assets of the oldco Rangers were properly accounted for and traced.

I don't believe fairness is the real issue, the real issue is everyone except D&P were certain HMRC would block any CVA, so why waste months asking buyers to submit CVA bids?

This company should have been wound up in weeks and its assets sold to the highest bidder, the liquidation sale to CG could have happened in March-April with anyone.

In my opinion they wasted months in Admin because the fans didn't want their club liquidated, and they simply pandered to their dreams.

It was a 3 million rip off.

Agree, there were good offers turned down for no obvious reason, then once it was obvious liquidation was the only option Green (and possibly Whyte?) were given a clear run at things. The later at a time where many bidders were renewing their interest. The fact the price received only seems to cover D&P costs and pays very little to creditors should be reviewed irrespective of anything else. After all they are meant to be working in all (and not potentially just one of) the Creditor best interests.

There were no good offers turned down for any other reason than they were not the highest, the sale went on for 3-4 months, plenty of time to put in the highest bid, and it did not happen.

Bill Miller offered 11 million but withdrew it, the 2nd highest bid was CG and he got it, no conspiracy, no foul.

It seems to equally upset both sets of OF fans that Rangers was worth next to nothing, but it was. and still is.

It does not seem clear at all that no good offers were turned down. The bidding process was not at all transparent and any enquiry has not yet been published.
Also the audit trail is not very convincing and this is made evident by the issue that there seems to be no certainty as to where key Rangers assets currently sit.
Also where did all the funds which were previously in Rangers accounts pre-administration eventually end up. The funds seem to have been emptied and liabilities incurred so that at the point of administration the club was worth next to nothing. In other words the clubs state as being worth next to nothing was one that was engineered to be such for the purposes of buying the club on the cheap in administration - perhaps with money previously syphoned off from Rangers accounts pre-administration.