Rangers Finances

 

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31 Mar 2020 10:27:22
Interm accounts due by the C O P today.

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01 Apr 2020 20:12:55
Can I ask does anyone know what Dave kings loan is secured against. surely not Ibrox?

02 Apr 2020 08:43:51
Rubes12, what loan would that be mate.

03 Apr 2020 11:09:51
The one he expects to get paid back to him now he has left. That one.

03 Apr 2020 13:22:12
Jeez, some folk just don't have a clue.

03 Apr 2020 14:19:27
He hasn't left, Hope not Tim, he's just stood down as Chairman.
He still has his shares.
Hope that clears it up for a Tim interested in all things Rangers.
P. S. how does it feel to have to take the Tory handout to survive? 😳 Cash rich as well. 🤔.

03 Apr 2020 15:16:11
Hope not hate, could you or one of your friends mabe paste detailes of that loan on here mate, as. I can see no loans outstanding to mr king, so give details or admit your talking rubbish, thank you,

03 Apr 2020 13:16:03
HNH, you mean the one that was converted in to shares? That one?

Or do you mean the shares that he has no intention of selling in the near future - do explain!

03 Apr 2020 15:50:02
He was never chairman of RFC ltd he was chairman of the RIFC Plc and yes he has left its official on companies house web site.

03 Apr 2020 14:10:32
Hope not hate, what loan, slim jim, yip, nail on the head mate, maybe some of that lot should put down the buckie before lifting there ipad.

03 Apr 2020 18:29:33
Whooooosshhh.

04 Apr 2020 14:04:37
Are you saying king didn't give out a loan? but allowed everyone else to put money up? surely that not case, he got a heap new shares? not that they are worth much now.

04 Apr 2020 15:55:19
Dk19, i like to think its keeping them awake at night time, hope not hate, what loan?

28 Mar 2020 09:46:23
John 25 can I ask you take (any knowledge) on the 2 statements. Dave King says all investment put on hold due to the pandemic. The board statement says we had investment. Cheers john.

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28 Mar 2020 11:56:53
so in essence as is most likely there was never investment, just yet again another tabloid grabbling exercise to keep the fans happy. when will we stop falling for this crap.

28 Mar 2020 12:58:15
Told u I leave it to you experts.

28 Mar 2020 17:00:37
I'm no expert I only pass on what I've read or heard. You said the board didn't believe the guy in the far East, that no info I've heard so you must be in the know.

28 Mar 2020 19:36:46
In the Scotsman and herald. I do hear stuff, but would not post here, a breach of trust.

28 Mar 2020 22:25:20
John25, we agree on many things, but where we have difficulties is on the mechanics of companies approach to the preparation of accounts.
You, obviously, are well versed in the various approaches adopted by accountants, but I know from experience how DM operated, and where it took us.
Thus I cannot believe we are in a solid state, due to our history.
I would love everything to be rosy, but my gut tells me otherwise, and the Corona virus predicament brings a new dimension.

29 Mar 2020 12:54:51
Billy b, I have certainly never said we are in a solid state, I am reasonably satisfied as to where we are now. europa league last two years has been massive for us.

29 Mar 2020 23:39:49
John25, I am not trying to say you said we are in a solid state, the point I was trying to make was my total mistrust in some accountancy practices. Cheers mate.

30 Mar 2020 13:13:51
Billy having been in the industry for more than 40 years there are very few companies who would publish accounts which are not accurate. As you know a company require to have there accounts signed off.

So if due diligence was not carried out, the company signing off, face heavy fines and could be struck off. Really not worth it.
Please for others don’t rush on and say loads of companies fiddle there books that is a different debate.
Also there are multiple legal ways of off setting accounts.

30 Mar 2020 23:21:03
Yes John, you are correct on due diligence etc., and the punishments, so I will say, only one more thing, there were many who were good "jugglers".

31 Mar 2020 13:07:59
Absolutely. Billyb.

31 Mar 2020 15:16:23
Doom or boom? now that is the question, if players and management etc don't take pay cut, its doom, if court cases go against us, its doom, if they go for, its boom, simple really, So court cases are the crux in this as is players wage cuts now, will they won't they, here a little thought Morelos wont, :)

28 Mar 2020 07:13:17
So Dave king has stepped down

My only question is how much money left in the bank to pay wages and run club right now

Can't see any matches with gate receipts coming in now for months?

Let's say this Carries on next 3 months minimum do we have enough money to keep the club going and all wages getting paid?

This crisis is going g to finish a lot of businesses off
I just hope our club is not one of them as let's be serious be we don't have the money we would all like to think we have that's a fact!

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28 Mar 2020 11:47:41
Stigno,

We have insurance to cover losses due to the virus but I still cannot find out how long before the policy expires.

Aberdeen's expires April and cover for this is being withdrawn by ins Companies so they will be up sheet creek .

Hope we are no in that same boat mate.

28 Mar 2020 12:45:43
The stigma I find it amazing how some on here do not know how money comes in. We have five home games left, 48,000 season tickets bought at start of season so money in for these games.
Money due June for this seasons run in Europe. Money due league cup semi and final before April 5/
So we r not due any gae recipes apart from approx 2,000 seats a game.
Also note our season ticket, club Europe tickets, we are not entitled to a refund.

28 Mar 2020 14:57:41
John25

I’m only asking mate no need to bite my head off lol

What I do know is wages and running a club the size of Rangers costs a lot of money
And would like to know what the difference is

Between as you say what’s still to come in and what’s going out the door and how long the money as you say still to come in and keep us afloat for

Let’s be honest no one knows right now how long this crisis is going to last

I’m not sure what insurance covers but hearing a lot of insurance companies are saying there not covering it as it was not a listed disease or something along them lines

Anyway what I’m saying is insurance might not be covering anything

Worrying times for everyone not just Rangers football club

But. Thought I’d ask the question in regards to our financial situation at present.

28 Mar 2020 16:57:17
Thestigno sorry u thought I was biting your head. Listen we don’t know intimate details rangers insurance policy, nor should we, it’s like everyone else tough it out.

30 Mar 2020 12:50:27
John25, You've let us all know, in the past, how well off you are; must have been by luck and some dodgy dealings. I do enjoy your posts however, cheers me up and so many others. Keep them coming. 🍾.

30 Mar 2020 23:25:31
Hope. Ran a legit business, success is a bit of luck and lots of hard work.

31 Mar 2020 13:06:26
John25, what's your take on the Jim McColl story. he seems to have backtracked completely. Bit embarrassing don't you think. Doesn't leave much scope for plugging the huge investment needed. Also, with your connections, what's the story with a new kit deal and the Ashley, War Memorial court cases. How much would the expect your Club is going to have to pay?

31 Mar 2020 13:38:30
Hope not hate, with a 60m wage bill, is the money in the bank going to cover everything or is it all taken away for payments to come?

There are payments still to be settled yet, so before you lot jump on the rangers will die wagon, maybe take a look closer to home first and the facts that have been published not the ones you and your clubs support dream up and band around about our club.

At a time like this we are all 1, plain and simple.

31 Mar 2020 15:19:36
Mcoll was never going to invest, he already struggling himself, as for wage cuts etc they better happen asap. we got lot of money things ongoing that need sorted pronto and can't see the remaining directors going into their pockets anymore,

31 Mar 2020 17:14:34
Alexander McCall, I take it from your response that you don't have a response of what the McColl snub is and the outstanding court fines are going to impact.

02 Apr 2020 19:36:39
Rubes12, jim mccoll is already struggling, ( according to you) the guys a multi millionaire, and you think he is struggling, phew, i wish i had problems like his.

04 Apr 2020 14:09:28
Paulellen Mcoll is struggling its easy to find out go look,
maybe was a multi millionaire, not anymore, just the same as a certain mr king, money unfortunalty goes as well as arrives, it depends on how you use it, mr k liked robbing the taxman, that's where most his went, mcoll now his companies maybe to blame, and as I stated previously he will not invest what few millions he has left, in a non profit making exercise, unless you know different that is?

24 Mar 2020 07:30:41
Hope you are all keeping well. I think our finances should be strong enough to survive the layoff. Thanks to the european run (25m) . Thoughts please.

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24 Mar 2020 16:22:41
Please explain your figures jason.

24 Mar 2020 17:28:15
Maybe his figures are wrong IOM, but I get the feeling your thinking we are in a bad way? What’s your thoughts about the future for the Gers? I always read your posts on Rangers fiancés and forgive me, but I have always had thoughts you support the other mob and are always on the wind up✌️✌️🇬🇧.

24 Mar 2020 20:55:12
Iom, I'd say Jason a bit out closer to 18 million in my opinion.

24 Mar 2020 23:55:37
Yately we were in a bad way before this struck, remember we needed £10m to complete the season and have now lost 5 home game revenue on top. I know I'm in a very, very small minority on here but I will not let people have all their on way on here, all is rosy battalion. Some people do bury their heads when it come to club football. I love the club yately maybe if I could work emoji and put a union jack at the bottom of my posts it would show I'm a true blue. Fortunately love of our club isn't counted on skilled fingers pressing buttons on a phone its in your heart and I know what my hearts says.

25 Mar 2020 00:40:31
Well we made 14m last year for the group stage
This year: 1m more for groip stage (results), 500k qudlification bonus, last 32 500k bonus, last 16 1m, two extra home games at 2.5 m per game (5m), plus extra tv revenue with celtic being knocked out.

25 Mar 2020 08:33:40
Fair play IOM✌️✌️✌️✌️🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧.

25 Mar 2020 17:35:04
what finances? we won't have any shortly, if that's not already the case, our wage bill alone is eyewatering at least 650,000 plus the rest that's soon takes chunks out any money from Europe and the debt has to be serviced never mond anything else we don't know, hey only telling it as is.

26 Mar 2020 09:46:45
Jason, reasonable summation.

27 Mar 2020 15:10:05
Reaching the last 16: £989,000
Full house Ibrox and return league _split between both teams 1m plus? maybe
TV rights, etc etc, unknown,
costs to take in consideration out this are police etc, players bonus structures while in euros, travel expenses etc, all plus other expenditures to take large sums out of the pot that remains, be reasonable its not all profit s, and the way things are shaping up if whole lot is scrapped we may get nothing …………. beware what we crave in this end of season, debate.

28 Mar 2020 11:58:57
players will need to take pay cut, as will other background staff. if not layoffs will happen, no revenue will hit us very hard.
Fans will be getting asked to put their hands in the pockets again, and it is not exactly a great time to be asking fans for bailout due to this virus,

24 Mar 2020 07:00:55
See that the Fat Man has kept Sports Direct stores open. Is there nothing that this guy will not do to earn a few quid!

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25 Mar 2020 08:40:56
The facts are on front of you. Survival for many Clubs is now very close to impossible. Your accounts for the last year showed a recurring loss of £11.3m and you needed a bail out of £10m in soft loans to get you through this season. That was assuming an income based on games being played.

So now it's all about outgoings, which are currently around the £2.5m per month. Any Euro money does not come into play until the seasons end. Too late for any Club if season ticket money and soft loans are not available. Good luck to all Football Clubs and football in general, this Covid19 could decimate sport as we all know and love. Keep safe everyone and heed the advice given.

27 Mar 2020 15:41:39
We all need sports socks during the appocalypse lol.

18 Mar 2020 11:13:05
So, yet again Dave King has proved his doubters wrong.

It appears that he has attracted between £10m and £20m of fresh investment to boost the cash flow and cover losses.

He is not selling out or walking away as many had stated - he his doing what he said, handing over the day to day management to a board that he believes will not only maintain the forward momentum but also look after his own investment.

Remember, supporters must support.

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18 Mar 2020 13:04:36
Yea DK a lot of people should hang their heads in shame.

18 Mar 2020 13:09:34
Dk 19 and molsgoals, the board doubt this man has money, let’s wait and see.
Best is king has no intention of selling his shares.

19 Mar 2020 10:50:22
John can you expand on your statement about the board doubts.

19 Mar 2020 15:31:02
Papers state king and park r not convinced this man has the money to invest.

22 Mar 2020 07:09:47
What the major concern is, will we meet our liabilities this season? The one thing we have in our favour is the potential sale value of our squad, but where will that leave us when football recommences?

22 Mar 2020 09:25:02
Billy B I asked the question should we go down the hearts road and ask player to take a wage cut. We must be looking at the best part of £2.5m per month. Another question how many people are they in SG backroom staff, saw a picture of him in the dug out and there must be 7 or 8 (some I know some I don't) do all these guys need to be in there.

23 Mar 2020 09:24:00
Yes, Isle of Mull, I believe the players and management team should take a hit. Again, a lot may depend on their wage structures. There should also be funds made available from the spfl, but getting anything from them will be like drawing back teeth.
The first priority is for the survival of people, then our survival as a football team.

23 Mar 2020 14:07:14
We should definitely follow hearts lead imo, the players are making ridiculous amounts of money and could afford the gesture since they are not working. Millions in s much much worse situation.

17 Mar 2020 10:29:43
Hopefully Stuart Gibson is the man, but a lot of IFS in the way yet. This pandemic could kill football for the next 6 months. As for Keith Jackson he going to plough in millions again I go back to financial fair play. Just hope we come out the other end of this intacted. Stay safe everyone.

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17 Mar 2020 14:04:31
Iom u hope Gibson is the man. Do u know him, my understanding is he is buying some new share not buying out king or taking over our club.

17 Mar 2020 20:13:04
John 25 how many times can we dilute these shares. There's quarter of a billion in circulation, how many more would needed to be to pull in £20m.

18 Mar 2020 10:24:51
Plenty. This guy concerns me. He manages assets does not own them.
I know what u mean re dilution but I. o. m. this is normal worldwide.
I diluted my company twice before takeover. Must admit glad to be out of it
Gutted not going to masters but everyone health is priority.

18 Mar 2020 13:18:32
Did you get half or full money for it John. Because the way I've been told you had a loaf then sold half of it so unless there a flour storage you have half a loaf and a value of half a loaf. Can you explain why with 81 million shares worth 20p in the market they are still worth 20p with a quarter of a billion on the market. If Stuart Gibson put £20m into the next share issue will each share still be worth 20p and how many more share will be available. Looking forward to your answers John I do respect them. Stay well and healthy all.

18 Mar 2020 14:51:19
Iom u don’t expect me to tell u what I got, suffice I will never work again and my family will be looked after
As u know after 40 yrs in the industry I leave it to experts like u.
Too busy playing golf and getting a new house built
U and your family stay healthy.

19 Mar 2020 00:11:15
Not asking that John, your expert on stock/ shares, only asking how many more shares can't we issue to get in £20m of investment. Also what's everyone take on the hearts situation and does anyone think we will follow.

19 Mar 2020 07:07:39
As I said I leave it to experts like u. Do u even know what our shares are trading at today.

21 Mar 2020 00:57:10
OMG mull! Not this again.

 


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