Rangers Finances


Use our rumours form to send us rangers transfer rumours.

(single word yields best result)

We're looking for questions for a new 'Ask Ed001' podcast, so if you have a question, press the big red button. The more original and interesting the question the better. Disclaimer: Rangers Rumours cannot be held responsible for any loss of life or limb caused by pressing red buttons.

18 Nov 2019 19:28:45
I read a post on Twitter last week. Someone claiming that rapid Vienna did not want to play us last season due to us not paying for Jelavic. The person was very sure of this and fought their point against many. It was very interesting to read the creditors who received less payment and that rapid are not in said list.

Agree0 Disagree0

18 Nov 2019 20:29:00
so the boy was bullsh*tting then.

18 Nov 2019 21:56:16
Marco, it was a condition of getting our licence from sfa that all transfer money was paid by us.

18 Nov 2019 21:56:29
Think that should be spelled boy mrgrumpy.

15 Nov 2019 16:42:46
With regards to sueing hmrc, i think we should let sleeping dogs lie! We need 10m till the end of the season and are still fighting my in court!

Agree0 Disagree0

15 Nov 2019 18:30:25
Jason different company who may sue, not present owners.

17 Nov 2019 12:50:15
John25. read in a previous post you sold 10,000 shares at 20p, big loss if you were a original investor buying at around 70p per share.

Think I agree with IOM about present share price being around 6 - 10p.

Even at this price no sound investors would touch them given the clubs latest set of accounts.

Board members and club 1872 need to keep buying to keep their investment and the club alive, but guys like yourself, if you can get out at 20p my advice would be. sell sell sell.

17 Nov 2019 14:27:33
Blue brother. I did not lose. Can u tell me where I can buy shares at 6=10p, up Jenkins quote 18.5 p.

17 Nov 2019 14:29:10
Luebrother just read last line no chance I want to get out.

17 Nov 2019 16:52:27
John25.I never said shares are still not being sold for around 20p.
What I said was given the latest set of accounts and more share dilution, if they were being traded on stock exchange 6-10p would be a more realistic trading value.

As Jenkins being the only place where shares are buying and selling shares, I think the price is being artificially inflated.

John. you never said what you payed for your shares, but obviously as you haven’t made a loss on the sale you’ve been one of the lucky ones who bought shares for under the inflated 20p.

But since as you say they have never dropped below 20p. I doubt it, me thinks your telling porkies about your losses.

17 Nov 2019 16:55:30
Blue brother u have your opinion, I certainly ain’t discussing my personal portfolio and finances on a website.

17 Nov 2019 16:56:52
U say I said never drop below 20p, my email says trading 18.5
So glad u r not my accountant.

17 Nov 2019 18:28:08
John if I was your financial advisor. my advice would be to tread carefully when buying shares where there’s an a emotional attachment involved. Buying 60,000 in the club you support, who continue year on year to exist on directors loans is a high risk investing strategy for your portfolio.

Leading up to Christmas, my advice would be low risk investments in drinks giants, especially ones dealing in flavoured gins. or Aldis who look likely to be top of the food giants this year.

This time of year also good for the portfolio to buy shares in the big American drug companies. heard deludeamol is going through the roof.

17 Nov 2019 18:46:30
Blue we have been around this circle . did you not read the Ed’s explanation that shares hold their value if not increase depending on the equity value of the club? Even the fact that Morelos scored for Columbia and Barasic is playing out his skin for Croatia. not to mention Aribo and Arfield playing pivotal roles fir their countries only takes the value of rangers higher . Goodness we bought Aribo fir 300k the guy must be worth 4 mill . We bought Kamara fir 30 .000 . there’s talk Leeds want him fir 8 million . I think johns remaining investment is ok blue 👍.

17 Nov 2019 18:59:25
Blue brother good advice mb I should have had working for my financial consultancy business over the years, now sold up and retired.
U r a 100% correct re emotional attatchment in business, but I have done ok mate,

17 Nov 2019 19:22:43
Molsgoals. Did read Ed’s explanation regarding how shares are effective at football clubs.
I agree with his views that Rangers are stronger of this season on players value, and a bit ahead on the playing side. only just though.
Last season we were neck and neck in November, still in Europe, this season got to a final, so agree feel good factor sky high, but a bad December kills that stone dead.

Where I disagree with Ed’s view on why the clubs four times stronger than last season is his comparison, that a team doing good in the spell, is the same as three teams promoted to the EPL. £100m into their pots for starters. that and the fact the club financial woes are not great, would lead me to believe Johns investment is high risk, MOLS.

17 Nov 2019 19:38:37
Blue brother your points r all well made. It will be a long time b4 they drop to penny a share, so I’m cool as is my sons.

17 Nov 2019 20:41:46
Cheers John25.Hope your boys make a fortune from the shares, means the club’s managed to come out trumps, in their high risk, win at any cost strategy.

It’s just a strategy that worries me. even if the club wins the league qualifying to the group stages of TCL puts to much pressure on players given the monies involved.

Just have look across the city, it’s the pressure of what’s at stake that kills them.

17 Nov 2019 22:19:30
A bit ahead on playing side blue? Night and day fir me my friend . Morelos . Barasic. Kamara. jack . Aribo . magregor . Davis all consistently playing out of their skin with Arfield and Kent getting close . Even Goldson playing his best last few games . tav will find his form again . exciting times one hopes and we can only pray it’s not another false dawn . but Europe is constantly talking about us now in the national games
. we are on the right trac . spend within our means and sitting fourth or Fith in the league. our assets would be
At least 40 / 50 mill worse off . The plan is working . hold on.

18 Nov 2019 16:14:26
Molsgoals. no argument from me regarding players being more consistent or their valuations.

My point was the club can’t sustain the heavy losses year on year, the board say £10m needed to see out season, it’s just worrying that lessons haven’t been learned from the last time, when the club went tits Up using same, win at all costs strategy.

And the club did win the league in may 2011 few months later failure to qualify for Europe, we know the rest. once agents know the clubs vulnerable valuations plummet.

Sorry MOLS am just a worrier.

18 Nov 2019 17:15:17
Bluebeother try not worry, since we said we need 10 million circa for rest of season, we have made, 400k from league cup semi, approx 800 from league cup final,
600 for beating Porto.
If and a big if for now 2 million if we win group plus more prize money for points, then if we qualify another home tie gaining about 2 million gate money.
Also revenue from Scottish cup.
If not directors have said they will fund the money required.
I have not included prize money to date re europa league this season which is paid in may 2020.

14 Nov 2019 14:42:05
The HMRC story in The Times today is incredible. A catastrophic blunder by HMRC overstated the club's debt by £50 million. The club should take legal advice on what they can do but I guess the problem is that the legal entity that was in place in 2011 is of course not the limited company of today. Perhaps thousands of Bears can take a 'class action' against HMRC and sue them for loss of revenue and status over the last seven years! Something must be done about this.

Agree2 Disagree0

14 Nov 2019 17:46:39
Yea don’t really know what to make of this ‘blunder’. Surely a company the size and magnitude of HMRC couldn’t make such a gross error and only realise 7 years later what happened.

Will be very interesting to see both statements which I assume will be released soon.

14 Nov 2019 19:07:39
Henderson this has been challenged and fought behind the scenes for last five years by king.
He has made it clear that he intends to take the original company out of liquidation.
Some have missed a penalty of 24 million was removed in April as it was applied incorrectly. This is over and above the proposed 50 million reduction reported today.
Also all ebt recipients at rangers have been written to and told they will no longer be pursued for tax in relation to payments.
There will be no Hmrc statement.

14 Nov 2019 19:50:13
John 25 this is a great post . you should post it on the financial page too.

14 Nov 2019 20:06:34
MOLS not a great post in my opinion, just rounding up the key facts from king, times and telegraph.
I’m sure iom will say I’m talking rubbish 😂😂😂.

14 Nov 2019 20:08:40
Ah ok, great information John! Thanks.

14 Nov 2019 21:06:00
Henderson, this is no guesswork, all fact from, a previous king talking on pitch to crowd before we played progress three years ago.
Figures and players letters from gaurdian, times and telegraph today.
I am only quoting others no inside knowledge.

15 Nov 2019 06:43:07
87shenderson, I do smell something rotten in all of this. Perhaps politically motivated? Apart from costing the club millions of pounds in revenue and the heartache that loyal fans have had to endure in the last 7 years, it gave Celtic year-on-year of unchallenged success. Questions must be asked in the house!

15 Nov 2019 08:17:29
Surely the old bird that lives in council accommodation at sw1a 1aa could have sorted it out for you, as you clearly sing her praises most of the time, and it's her boys that screwed you.

15 Nov 2019 16:34:16
dimbhoy, The LADY that you refer to, has accomodation, with a view of the river, waiting for you EC3N 4DR.

15 Nov 2019 16:58:37
I’m sorry, you don’t just fold a company because of an HMRC estimate, if it wasn’t the case an accountant could have dealt with it very easily, the fact remains there was still a massive tax bill, massive bank debt I think what has happened here is the HMRC are not going to chase up the players and managers who received the money and the debt will die with the company.

15 Nov 2019 18:37:32
Is there any reason that you can think of me, which would lead Hmrc to come to the decision to not chase the players for unpaid tax? Wow that must be a first . survey the gave an obligation to the common man tax payer to chase debts . They can’t just turn round and say we can’t be bothered chasing this money and any money from other clubs that were using this scheme . ? Plus the scaremongering of the threat of close to 100 mil owed by rangers and the personal corporate threats to David Murray made him rashly just want out ASAP without a hint of a fight . The man was looking at total ruin at that time so decisions cannot be expected to be anything but rash.

16 Nov 2019 13:12:08
Mols The onus is on the employer not the employee, so it is harder to try and make a case against the individuals, whereas it’s pretty open and shut case against the company.

14 Nov 2019 11:14:43
It is being reported by The Times that HMRC are admitting that they claimed £50M too much from us. If this is true and the tax was paid, who will receive the excess? At the time I was of the opinion that HMRC were claiming £72M.

Agree0 Disagree0

14 Nov 2019 19:10:13
we haven't paid the tax.

15 Nov 2019 10:22:37
You can't pay the tax if the company has been liquidated.

14 Nov 2019 11:06:39
I have NO repeat NO financial expertise so the following needs to be treated with the utmost scelticism. However, my account has told me that if HMRC are found to have mishandled the tax situation with Rangers, as reported in the Times, the compensation they will be required to pay will dwarf the refund they would also be required to pay. However he is not sure who any monies would be payable to. The club, shareholders or owners, past or present. Interesting times.

Agree1 Disagree0

14 Nov 2019 14:40:25
If it was to happen, it would surely have to be the old company and it's shareholders and administrators to pay off debts.

14 Nov 2019 15:26:33
I would say you r correct Marco. Remember king said he wanted to take old company out of liquidation and pay the debts.

14 Nov 2019 19:13:12
if its true and there was sufficient funds to pay creditors (and it doesn't need to be full amount either but acceptable settlement) then the accountants can file for a request to cancel liquidation.

14 Nov 2019 19:33:52
Correct geesa although king has said he wishes to repay every penny owed.

14 Nov 2019 10:00:32
The times are reporting that rangers have been over charged with £50m in the tax case from the hrmc . Hopefully true and the club seeks compensation and damages.

Agree0 Disagree0

13 Nov 2019 23:20:50
London Financial Times running a story that HMRC have admitted that the 50m tax owed to them from Rangers was actually closer to 20m! Absolutely outrageous if true! Very interesting to see how this develops.

Agree1 Disagree0

14 Nov 2019 02:23:16
Shocking . they should be sued . that plus 5 mil in void penalties.

14 Nov 2019 09:17:11
perhaps a politician put them up to it, will have to REID between the lines to find out whom!

14 Nov 2019 19:20:29
Brilliantly put ttw.

14 Nov 2019 20:04:48
we didn't go bust for EBTs we went bust cause Whyte took on Murray debt to the bank 21million and Tictus 18million in season ticket money up front for 4 years and fell in the 2nd round also 7million in PAYE remember we won the big tax case in 2012 ans BOD administrators won agian in 2014 the supreme court ruled in the HMRC fav 2015 the reduction from 50 to 20 million is between BOD and Hmrc i'm afraid the times tried to spin this go on line and you will see this the EBTs big case had nothing to do with us going bust sorry bears the tax people would never admit this.

15 Nov 2019 17:13:12
a lot more to come out of this. HMRC stating no incorrect figure, so do we owe 70 or 20M. if BDO negotiated a settlement fee which happens a lot i don't see a fee of 20M as being agreeable since we don't have the funds to cover that anyway. so why negotiated or indeed agree a reduced fee which can't be paid anyway.

09 Nov 2019 15:05:17
Where to start with DK19 propaganda.
I read 4 lads take, Steven Clifford says he's not a qualified accountant, so the same as us DK19. He's wrong with the "further funding of £10m has already been assured by the board. Read the auditors GOING CONCERN Warning about the absent of a binding debt facility. You say we have NO EXTERNAL DEBT again wrong what about outstanding transfers fees we owe over £20m excluding Kent and helander fees. In the accounts we need £10m to see the season out and need the some of that money NOW, the board say little about money to clear Ashley. You say about club 1872 buying more shares if they paid more than 6p a share it madness. When the takeover panel took on Dave King he was told to pay 20p a share for the 81m shares in existence we now have over a quarter of a Billion share a dilution of two thirds. Two reports from independent writers said the accounts were worrying.

Agree3 Disagree0

09 Nov 2019 19:21:29
Read your posts for a while Isle of mull, please can you give me a short answer on where we are going with all the debt and is administration looming. What is your take and is King running the club into the ground? Where would we have been with Ashley? I await your response 🇬🇧.

10 Nov 2019 08:53:53
I'm not sure but any company that hemorrhages money like us is not healthy. People say don't worry we can sell morelos but forget the fact we owe more in transfer fees than alf would bring in. £3.3m spent on legal fees, to rid us of Ashley he's still here with a bill for many millions. So the truth yately I'm not sure can't see how it will end up but if we fail to make Europe (a off form game, ref mistake) we are in serious trouble.

10 Nov 2019 09:19:58
Mull, DK has not said we are healthy in terms of being sustainable in the short term.

He has said that he and the others will continue to finance any shortfall in the next few years until we become healthy.

You say we owe £Xxxx in transfer fees - whatever we owe is included in the accounts.

10 Nov 2019 13:53:15
Yes they are in the accounts
Why no binding debt facility this year DK.

10 Nov 2019 16:01:23
You still never answered about Ashley?

10 Nov 2019 18:24:49
Mull, there wasn’t a bi ding debt last year, just soft loans provided when we needed it just like Dave King promised.

Next point?

11 Nov 2019 08:43:51
How can we owe over 20mill in transfer fees? Have we not paid for any player at all over last 3 years?

11 Nov 2019 09:23:37
Well we need to find the money from elsewhere because i have a funny feeling unless he's forced to leave buffalo staying ay rangers. the guys only 23 . he's scoring goals . The guys on fire. If we are despearate the he may be forced out for around 18 - 25 . Reality is he wants a huge club in premiership . to be honest he should be playing for the likes of manu man city liverpool etc. This guy was born with a talent to score goals. He deserves to be winning trophies. so why leave rangers when he's going to stop the 9.

11 Nov 2019 10:51:54
Paul. Exactly, one mans take, absolute rubbish.

12 Nov 2019 15:57:47
Paul, not just 20 mill, he goes on to say £24m NOT including Kent and Helander is still owed. Thay makes £34m +.

Apparently it is in the Accounts ? lol.


Rangers Finances 2

Rangers Finances 3

Log In or Register to post

Remember me

Forgot Pass