Saturday, 2 November 2019

Rangers' accounts and the lies spun to destabilise...


On the subject of lies…

Rangers published the annual accounts yesterday, confirming overheads in the region of £60M, a rise of around £20M. The headline of course was the club needs £10M before the end of the season.

Naturally this was presented to readers/fans as admin 2, with the usual mentalists and their imaginary tick tock clocks.

However, we can confirm, categorically, this is complete baloney and all this report confirmed was due diligence from the club and reporting the facts.

In fact, we’re more than a touch surprised (yes really) the headlines didn’t actually highlight the fact the losses were down £4M, and although the overheads have increased, so has the revenue.

Colossally, in fact.

To set your minds at ease, the fact Rangers say they need £10M is like a person saying they need oxygen.

Like any company, Rangers require investment and capital – like any company, there are tax years to account with and diligence which must be carried out, and, crucially, declared.

Rangers have confirmed they need a certain sum before next summer – pray tell, can someone, anyone tell us what’s so bad about that?

Company in requires capital shocker? Company needs money for sustainability. Wow, welcome to corporate governance. Seems like anyone with a red top doesn’t have a clue how that works.

Chairman Dave King’s own hedge fund already has the cash in place to fund this ‘hole’, so the cash is accounted and ready – and of course millions will arrive in from prize money including the SPL (be it first or second) not to mention the remaining two home Europa League matches each of which will earn over £2M.

In short, there is nothing to worry about here, we haven’t spent cash we don’t have and we have systems in place to provide extra funding for the rainy days a football club like Rangers inevitably has.

Move along, nothing to see here.


8 comments:

  1. The losses are essentially the money we have spent on players in the last two seasons, circa £30 million and include the millions spent fighting the Fat Bastard in court.
    I defy anyone to look at our squad and try to tell me it is not £30 million more valuable than 2 years ago.
    Barisic - Helander - Katic - Kamara - Jack - Aribo - Kent - Morelos. That has to be realistically over £100 million of value there.
    I do not like to see us spending money we don't have. But we are also flooding the Unders with high quality players who need a path into the first team squad. We are going to be a selling club. Some of those players like Jack will probably never leave. But Alfredo alone will pay the losses of the last two seasons.
    Colour me not caring at all!!
    RTID

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  2. We have spent wisely this time with real assets for the club great sell on potential, we are licky to have some rich fans who can lend us interest free loans until we manage under our own steam. We have come along way and there is still aways to go yet, keep the faith

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  3. I'm not a figures man, but as long as we have a strong grip on the finances, like you say, it's all good.

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  4. I'm at an absolute loss how you can spin this as "Corporate governance" or "Money well spent" or "King" has our back.

    Converted soft loans have pushed share price to around 6p value due to dilution.

    Accounts don't mention anything after June 30th (Kent and Helander) 11.5 million or Mike Ashley, Elite or Hummel dues to come down the line Jan 2020.

    10 million for this season is to basically keep the lights on.

    Now before you all come and attack me with scathing keyboard warrior attacks try and listen.

    500k from 1872
    Possible player sales in Jan (This or all in for league) maybe, maybe 10 million as a distressed sale (Company jargon)

    2 million gate possible
    1 million SPL (remember player sales)

    This is a mess and highlights how close to the wind the club is flying.

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  5. We now are in a position were we must sell our best players or players that other teams need we have 1 player in that bracket right now an that is Morelos ,so he must be sold for as high a price as we can get 20 -30 million would be fantastic
    Gerrard doesn't help by stating that Morelos will not be sold ,he needs to face facts an realise that we are a selling club ,,if we sell Morelos in January it will hurt but the club will move on an the debt will be cleared ,we know how Celtic keep themselves afloat an it's by being a selling club we now have players in the team who can be sold for decent wedge so really the debt only becomes a problem if we can't sell ,no need for any hysterical reactions just a small bump in the road

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  6. Yawn on bandito ,i smell taig you should have put some body spray on
    ,,Sell Morelos 20-30million an debt solved nae need for any hysterical pish ,it will hurt losing him but club must survive an this will do the job and unless we get access to champions League then we will need to sell a player every season for 10million plus just like Celtic do although they have a big greedy chairman who trousers 3.5 million in a wage , wowser but he does run them financially well hats off to that ,so we just copy there model ,no drama

    ReplyDelete

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