Rangers Rumours Archive August 08 2013

 

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08 Aug 2013 22:13:01
From tonight's Q&A

bonuses of 3. 2M paid for winning the 4th tier of the worst league in europe - more bonuses to come with each division won

Will take a board meeting to decide if Charles should be let go, do they not have a HR dept, a whole board meeting over one employee? No wonder it's going to the dogs.

How is that level of spend sustainable with only 10M left in the account - 2 years season ticket money, IPO cash, Blackthorn and Puma deals

Not looking good for the shareholders/unsecured creditors.
Reports from the rangers standard saying that the CEO confirms that only 10M of the IPO and season ticket money (34,000) 22M and 8M respectively

This should be of major concern to investors - a burn of 20M in less than a year!
From LSE share chat site.

Paddy Malarkey

Believable78 Unbelievable28

The Policy has been buy Ally success at any cost. Lunacy.
£10m left is a verbal statement. Who knows if its true could be smoke up the backside.
Need signed off official accounts.
They are just keeping it going to share lock-in ends 31 dec then sell shares of a basket case with no method of paying owed salaries. Club needs £22m to end of season. First league game not played yet. How can £3. 2n bonuses be paid from that plus basic salaries £500k Mathers, Stockbridge, Jadda, green, Ally, Durrant, McDowell, there's £3m alone.

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Going by these figures that 10 million that's left will only last another 5 months before we are at a stage of administration again-So around christmas we are in serious trouble again. don't know what my fellow gers think about this. i'm personally disgusted about this poor management. Why are we going out spending money on daly etc when its plainly obvious that we can't afford it. I have a real fear we are going down the tubes again.

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10% of Club turnover paid in bonuses is madness (bearing in mind D3 prize money was £43,000!).

A finance director who received a bonus for the team being promoted rather than club financial improvement (?"$)

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What about gate money? 150-200k per home match 10 home matches between now and Xmas is 1. 5 - 2 m surely that will help?

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Spot on well be in the myre by jan 2014, gers fans must revolt to save our club did anyone ask ally what he has taken from the club since the takeover I don't want him to workfor nowt but 2nd division surely £3,000 is way more than adiquate and I know many lwill think too much but it is a big job andvsurely only players should get bonuses until were back in top league, CG is one sneaky f@kker but he has a few more inside our club aswell?

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You have to bear in mind as well that £10m left includes this years season ticket revenue as well, approx £9.5m, so we were pretty much skint before that cash came in!

There is no way we should be paying anyone £500k bonus in the current climate!

Jason

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Any match day revenue goes to green and Stockbridge because they split into sub company's also spending 23 mill to win the 3rd div is not buying success it is a effing joke 23 mil in 8 month there will be teams in the english championship that couldn't spend that in a year I think duff&phelps are on their way back to rangers

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I was just about to mention the 2 mill per season from additional gate money + catering + executive Box sales + hospitality + shirt sales + TV monies etc; But then again what do I know about business?

Ozzie Al

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£1.5m of the £10m is the Sports Direct money according to Stockbridge last night. Puma haven't paid anything into the pot yet though.

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09 Aug 2013 13:32:59
Hope not d&p helped create this mess we r in, unprofessionalfu#$s that they r. They should never be allowed near a football club again. Board need removed, king mccoll Murray etc know what they want we should trust what they r doing WATP

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I think we are in serious trouble. The high salaries have to go NOW!

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This time (if there is one) RFC won't be able to choose the admin company, it will be chosen for them given the short trading period they have

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Rangers were losing 1.5 mill a month last season, and have now signed 8 players on high wages, so that fee will be closer to 2 mill a month
they need to sell players and get the high wage earners off the books, the 10 mill left in the bank will be gone by january and there are various independant financial experts, saying very much the same, still even if they do go into administration again, a 15 pt penalty will not stop them being promoted as they should have a 15 pt lead by xmas, but worrying times again

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Fellow bears, can someone tell me where all these numbers are coming from? Is there an official statement quoting how much we had/have left/owe?

I'm a fairly educated guy but could never profess to be an accountancy expert although many on here do just that.

I'm not saying the figures are wrong, I would just like to see them for myself and make my own mind up. I would guess if all these figures were accurate it would be plastered over every newspaper in the land.

Overdose15

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09 Aug 2013 23:46:34
Does anybody know if the correct amounts of tax has been paid to the relevant bodys this time, we need to see properly audited accounts so we can be sure were not going down the same direction as Craig Whyte took us.

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Are you kidding its the investors that have the money

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@ overdose, the figure og circa £10m came out at the meeting the other night by rangers accountant, the bonus's are documented in some, but not all papers so I won't hold my breath on them, the state of the accounts will be there for all to see on the 18th Sept. at the latest. let's hope its not too dire

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We are losing 400k a month over the closed season, this should resolve its self now that we have match day revenues coming in. remember the club earns nothing when we don't play any games! that said we still need to know what's happened to the rest of the cash

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08 Aug 2013 12:37:45
Heard that fraser Aird is away on loan to aberdeen


HAMILTON LAD

Believable36 Unbelievable47

Superb news fraser needs games can they not take naismith as well

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Naismith has left

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If true a bad move for Aird. Do u really think that support would give the boy a chance. They would be on his back the second he took to the pitch

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Naitsmith was released last month!

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Its not true don't be so ridiculous aird is important in our squad so u heard WRONG

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Could have said the same thing with ricky foster mate stop holding on to this stupid grudge with aberdeen and also just for the record there manager is an ex ger so geez peace

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@5 sorry but your wrong I work in Aberdeen and there is still a lot of hatred amongst Aberdeen fans regarding Rangers. I agree it would be a bad move for Aird. He is a young boy learning his trade and is prone like all young players to make mistakes. The Dons fans will get on his back and will also not like the fact that they would be grooming a player for Rangers. That's the difference between Foster going back after his spell at Ibrox and a former Rangers player being manager. They both belong to Aberdeen and Aird doesnt

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Difference between Aird and McInnes/Foster is that the latter 2 belonged to Aberdeen while Aird would be sent up there still being a Rangers player. No way will the Aberdeen fans give him a chance. Not about Rangers fans holding a grudge more like the Aberdeen fans holding one

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08 Aug 2013 21:14:29
really why come out with somthing so stupid aird atm is key in out team not a starter every week but in a few year yes he will be the goals this boy comes up with are always important last min winners or equlisers the boy has a good future why send him away when he will develop at rangers just fine

manderson 1879 W. A. T. P

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08 Aug 2013 08:50:27
Redundancies at Ibrox! Although not reported in the mainstream press I can confirm rangers have decided to
Make between 12-14 employees redundant. It has been selective and and the manner the club treated there employees had been nothing short of scandelous. The internal HR department should hold there heads in shame by there actions. Working directly with Mr Stockbridge and Mr mather they have used the running costs as an excuse? (This was after they gave themselves hefty bonuses) according to Mr George Angus (cost consultant from active corporate) the company is hemorrhaging money at an alarming rate! Also during this ongoing process the club have signed 8 players and at least 3 other staff members this of course doesn't include Mr green being re employed as a consultant. I wonder if rangers will disclose how much they have and are still spending on consultants and sub contract companies all linked to Stockbridge, mather and
Green. also don't be fooled by Mr mather and his shiny do good image! He is heavily involved with green and Stockbridge DO NOT TRUST any of them it's all about the cash and how they can get it out of the company. If any one of the trio took a wage cut it would have saved most of the people already made redundant, and helped the one still under threat.

We need answers from the club and hopefully someone reading this has the power to get some answers, real rangers people.

Believable108 Unbelievable35

Well about time. Everyone is supposed to go on liquidation.
How do people think you balance the books?
Walter as chairman and Ally's spending spree and their salaries and salaries of their cronies, Durrant etc,. Has caused this.

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Apparently according to the Herald - Mather and McCoist are meeting fans tonight at 8pm?

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Whatever or whoever runs rangers need to cut costs drastically. If as reported we are losing huge amounts of money. And before ally gets the blame again. It's the bean counters who should decide budgets etc. not first team manager/ coach. Having said that the salaries at the top end of the scale are scandalous.

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Was one of the D&P oddities that they didn't bite the bullet during Admin last year. It was the first thing that happened at Hearts.

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I think Mather has had a brief to get close and cosy with McCoist (and Walter) and its worked and reaping dividends.
Looks like they are now using McCoist for talking to fans and allaying fears on non footballing matters.
Green has his hand up Mathers back and Mathers has his hand up McCoists back.
Fans shouldn't accept any more words from Jabba or McCoist or Mathers. Show the deeds titles. Show the accounts.
If SDM loved the club why did he get a fortune for Edminston house and car park from the shares money? Why not donate those to a trust and save jobs at Ibrox? That payment has cost jobs.

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For the division were in the salaries are to costly but and heres the but,
i think the players wages are fine. Mind the amount of st and merchindise bought it, s the coaches and above that need looked at, anyone buying rangers last year must have known they couldn't take a wage for at least 5 years and maybe even have to put more in, naa it stinks. the fans have had more than enough to put up with without all mr green and co, s mind games we need a bit of good news its gone on way too long?

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Could someone help me here?
apart from what they read in papers
how does anyone on a rumours page
know how much the players, Mccoist,
Durrant etc are getting paid?
billy h

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Well Billy, it is obvious even to a blind man that the only way a player is going to go from the SPL to Division 2 is for money. let's forget all this playing for Rangers rubbish, its a short career and they need as much as they can make. It is well documented that the money raised form the share issue is all but gone, now the season ticket money is in that will keep it afloat for a few more months but after that. I have to ask why a squad the size and depth of Rangers is required to win Div 2, surely a couple of signings and keeping the money would have been a more sensible solution. The players you have will not do anything in the SPL, they are average at best and they will be years older by the time you get there, if you are not bust again by then. You lot need to stop believing everything Ally tells you, he said CG was good for Rangers and that he had the best interests of Rangers at heart, now he is changing his mind because someone else is in charge, self preservation I believe they call that. I would also be nervous about Paul Murray becoming involved. He wants a seat on the board and yet he didn't put a single penny into your club when it was needed but all of a sudden he is the saviour, he will also be getting a huge salary, bonuses, hospitality if he gets back on the board. why. wasn't he there when it all went wrong the 1st time. time for the fans to become a collective and demand answers before you stumble blindly into following another leech.

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Due diligence report for the share flotation. Also the players tend to tell taxi drivers amongst others.

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08 Aug 2013 16:24:23
Cost cutting makes sense especially if they are ridding the club of the dead wood and those that shouldn't have been at teh club in the first place.

Every company that is not wholly successful have staff that are inefficient and taking income under false pretences. The general rule of thumb is that 20% to 30% of employees are totally inefficient and a company, if it can exit those employees can be, ore efficient at a lower cost.

As for the coaching staff I would suggest that we are grossly overstaffed for the division that we are in and in deed I would genuinely ask what difference we would see if we removed McDowall and saved his salary. The same could arguably be said for Durrant as well.

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I agree they would only drop down leagues
for more money but still doesn't
answer how people know how much more
or how much they were on at previous clubs
billy h

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I for one believe this story. I have personal experience of this redundancy story as a family member was one of the unfortunate few who was scandalously paid off. Citing cost cutting measures as an excuse, while of course bringing back the bold Charles as a consultant and buying at least 3 new players in the time since. The real reason for the redundancies is really very simple. Pay of the contracted staff, get them off the bill, sub contract the work out, obviously to a company linked up to the directors and green and Mather, and most definitely Stockbridge. Charge whatever you want for the work undertaken, pocket whatever profits are made and the job of syphoning company cash is done. These guys on the board are leeches, taking whatever they can get and now that chicos back the s*** is obviously about to hit the fan and these boys will be running for the hills soon. Something is up at our club, admin may not be too far away, a classic tactic to get as much money as possible. Green will use this club as a way to set himself up for life. What is his credentials, how did he make his money, if he actually has any? How did Mather make his, Stockbridge as well? How did these guys come to be our owners and leaders? SDM didn't do a bad job, he made an arse of it in the end, but at least he did things right for the most part. I'd love for him to be back right now and bring some much neede stability and normality to the club. If not him, then certainly mccoll and blin, but not Murray. He's another who shouldn't be trusted. Get green out NOW, and get the rest out as well! STOCKBRIDGE, MATHER AND ALL THE MANY CONSULTANTS THAT THE CLUB IS FINANCING!!

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I'm sorry did you say SDM did things well your joking right. He was the beginning on the end. You really are delusional. The club was a play thing to Murray who didn't use any of his own money it was all the banks. Your a lunatic.

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Well, sadly, it's to be expected, given that management are sh*tting themselves; so much so, that, they have adopted a buy belt and braces approach to win a title that they should have been able to win without paying out huge sums to average (one or two bellow average) ex higher league players. It seems that history often repeats when win at all costs attitudes prevail.

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I'm sick and tired of the financial news being broken out by the papers, the boardroom are obviously all in it by themselves and having an ALL rangers men boardroom effects their legendary status. Look at how smith is beig abused right now, and how everyone's not on Ally's back ( who I support 100%) but remember the PLG saga? He was kicked out for basically s*** results before Christmas, although ally last year had bad circumstances this year he has something to prove. However, at the mean time we need to focus to be ok the back pages and the possible buyers should pay up or shut up, green wants to increase the price of shares and so he should, the more people pay the higher investment, however McColl and co. want to decrease the share price for their own well beig and is refusing a 14 mill investment which is audacious, do we want this man in charge? He's no paying up, however people like Mather have personally invested a million pound and green has paid the oldcos bad Debts, to which he should be praised for. Us rangers fans are so nieve cause of Whytes lies we jump to any rumour about take overs, let's try focus on performances on the pitch and let the board handle the finances, I know they aren't being handles very well with the wages they are getting ( upto 3.3 million between Green, Mccoist, McDowell, durrant and 2 other board members) I do not agree wih this, we should be paying them wages and bonuses when we get to the premier league, we scraped past 3rd division teams last year and the performance against Forfar was diabolical. But anyways, that'll surely change when the trialists will play. i'm a die hard rangers fan and only want the best for my club, however I really want these possible buyers to look at the clubs interest, not their own so there's a cheaper investment by them. Thoughts? Would love to hear others thoughts on this so I don't seem a critic.

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Credibility gone with statement that Murray did a good job. I doubt if there has been an owner of a Club in Scotland, maybe even the UK, that syphoned off more money to Companies owned or controlled by him than Murray did.

For me we needed new players, playing staff are much more important that administration staff and we seemed to have a lot of them.

The only thing that I would question is the criteria deployed to cut the operating costs. After all, from what I remember, there were a number of people on our payroll during Bain's tenure that had no love for the club. Hopefully they were the first to go!

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First and most important: My Thoughts and best wishes to those impacted individuals. Difficult time. To be kicked in the teeth by redundancy is bad at any time, but if they are fans of the club, they will have a special connection with the employer that is casting them aside, which will make it doubly galling.

Had you a proper administrator during admin1 instead of the self serving Murray/Whyte/Green stitch up that looks increasingly like a conflation of conspiracies, costs would have been cut - like at hearts and Dunfermline- but at least this would have been in the long term interest of the organisation and its creditors, instead of to line the pockets of johnny come lately charlatans.

A great many have predicted it already, but the hill has been crested and the next admin is now hoving into view.
Do things differently this time bears! You didn't make too many friends or gain much influence last time!

(Caley fan!)

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It's a terrible situation when people have to be made redundant due to financial constraints, but didn't this exact same scenario happen to other business's when you failed to pay them what they were owed?

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To Billy: I agree with you in part mate, no-one knows the full facts / figures but you can't honestly believe that all is well at the moment, if they are saying there is a combined £10m in the bank accounts I believe the picture is not as rosy as that. I really do fear the worst.

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The team will go into administration again. What people don't understand is that football is a business today, the past does not matter. Rangers are being run horribly and the owners are in it to take out as much money as they can. Rangers are not even worth a large transfer fee in the Premiership today, think about that. The grounds are poor and falling apart. There is no where to go but down for the club. Money cannot and will not ever be made in Scotland. Celtic will start to have trouble as well if they can't get Champions League money. Its over.

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If Rangers goes into Admin again, it will be a disaster. Probably means no promotion which in turn will dent the value of the club. Better to cut costs now and finish second or third than go for a stunning first.

Other than that the numbers for Scottish footy look grim anyway. Yes, only European money keeps Celtic playing at that level. And without that money, what chance Rangers of getting back to top 2? Hearts tried and failed dismally. So did Dundee before them.

What's needed is a leaner team. With the fans and stadium that should still equate to SPL footy. But the club needs decent management, not wide boys who just ultimately the club into administration when they can't bleed any more cash from it.

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