The £50M reality at Ibrox

The £50M reality at Ibrox

One of our regulars on the site posted something which perhaps a year or two ago would have sounded like fantasy football, but in reality now seems quite feasible. It made us think, and related to certain worrymongering about the recently-released accounts.

First off, yes, it is true that technically speaking if this club doesn’t find £10M+ funding by the end of the season it’s technically true that it would go out of business, but that’s again like saying if a person doesn’t breathe they will die.

All companies need capital, Rangers’ issue is only the sourcing – that the club is not fully self-sustaining yet and requires the board to help fund.

That will happen. The money is not a problem.

However, the regular in question, relating to these accounts, made such a valid point and while no one wants to ‘sell the family jewels’ the fact is Rangers have megamillions on our hands in saleable assets, and money, truly is not an issue.

If we look at the most frugal-case scenario, then we have a pile of £10M+ players – Morelos, Katic, Barisic, Jack, Aribo. We don’t even need to go further – because right there is a critical minimum of £50M and with Steven Gerrard’s comments yesterday about the Colombian striker that goes up even more.

In short, our players give this club value, even more value than before, given the assets we have at our disposal. The squad, just like Celtic’s, is worth big money now, players who deliver both for their clubs domestically, in Europe and for their countries.

Meaning Rangers have plenty of cash at base level before we talk about generated revenue.

Rangers are not in any financial trouble – we are mired in litigation issues and we’re not quite generating as much revenue as we’re spending, but this is standard company practise and in no way reflects ‘admin 2’.

The only reason for ‘admin 1’ was our former ‘owner’ breaking the law withholding funds from HMRC.

End result – Rangers are becoming more and more valuable. We don’t have to sell anyone. But we do have assets who will fetch big money and in time put our coffers into the black.

Just like Celtic, who have generated £50M over the past two seasons with two player sales.

The sooner people stop scaremongering and focus on our valuable squad, a cup final, a challenge for the SPL title and progress in Europe, the better.

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  1. Totally agree the scaremongering should stop. Rangers like Celtic, their business model is the same, which is European football and the sale of players to generate extra income.
    If you go over to Companies House Celtic only started to go into profit since the Van Dyke deal and has continually sold at least one player a year since then.

  2. Nobodys worried here apart from the bbc establishement fake media mob
    Just more fake news

  3. Well in the accounts it says we still owe £24m for players we have already bought. £10m to see us through this season. It looks as if players will be sold in January.
    The directors are not mega wealthy, they can't keep putting £10-20m in every season. Something is going to have to give. Our problem has been we haven't once sold a player for a big fee. I think that's why Wilson has been brought in. Just hope they don't start selling out best players in January

  4. Bigbaws and others. Celtic are very proud of the fact that they have £40 million in the bank. However, they have raised £100 million from selling players in the last five years. This implies that they have £60 million of accumulated losses, or £12 million a season.
    So they are not as secure as you might think.
    If we still owe £24 million for players, that is a darker picture, agreed. But when Morelos goes, next summer, that will be cleared.

    • The thing with Celtic is it's part of their business model to sell players at a profit. They plan to sell their players, so you can't really say "if they didn't" because they have.
      That shows you if we don't start doing the same we are f""ked.

    • I agree that we need to start doing the same, we have to become a selling club. I think we all know that Morelos and Aribo will move on, qite possibly Barisic, Helander and Katic too. The main thing is ony one sale a year to keep the team strong and we have to replace them.
      As for Celtic, who do they have left worth money? McGregor and Christie. Forrest? Maybe but nothing like £25 million. My point is that they are weakening their team and running out of quality to sell on. If they sold the three I named, their team would fall apart. they also desperately need another striker, which is going to cost them. We must make sure we do not fall into that trap of not replacing. While Gerrard is here, we should be able to attract good players

  5. I just hope the 'money people' are checked on by Club 1872. To see they're not over-stretching themselves. We can't go through 'that' again.

  6. Restating recent history; the Club doesn't go bust. All clubs are baskets of intellectual property, fixed assets (stadia/training facilities) and variable assets (players and season tickets/merchandising). It's the owners of the club (companies) that go bust. Previously the owners baled or went bust because a) Lloyds Bank pulled the overdraft because HMRC were making a test case of EBTs and put the frighteners on SDM and b) The distressed-asset buyers that opportunistically followed SDM, didn't have the funds to cover running costs. This time round there is no Lloyds bank, no EBT/HMRC issue and the debt is through private individuals who are committed investors who have traded cash for shares. The only remaining legacy issue is that loveable rogue at Sports Direct – irritating but not life threatening. The trading account shows an investment loss, the balance sheet is arguably stronger now than at any time in the last 10 years (give or take a few replica strips)

  7. Ashley is a leach and is only trying to hurt our club because we hurt him when we helped push him out of our club and showed that he isn't this fierce business genious he thinks he is. What we need to wach out for is this little fat fingered billionaire is prepared to tie the club's finances up in court. King needs to get shot of this leach for good and do it legally and not the way he does back in South Africa

  8. I, for 1, Fear no Foe. U neither fear our own money men.

    An encouraged 1872 are on Constant Watch they've done us proud

    Thanks guys

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