Whether or not Robbo is telling the truth about Champions League cash barely being £20M and not double it (like most facts seem to suggest) doesn’t actually matter, the Managing Director’s announcement appears to have poured a lot of cold water on the idea of the club having money to spend. Or being willing to.
At all.
To reject the amounts of cash the club was reported to have received hints that the club is not going to spend in the way we’d hoped.
We were under the impression we got £16M gross for Patterson, £4.5M for Gerrard, £23M for Bassey, £10M for Aribo, £30M for the UEL run, and £40M for making the group phase of UCL.
Whether Robertson is accurate in his numbers or not, he is poo pooing any notion the club now has financial health and the ability to spend.
Is it due to outlay? Has outlay this past year been greater than ever?
Normally the club has, give or take, £80M overheads, but £80M revenue per year – this past year has seen well over double that for revenue given those player sales and Euro revenue.
And yet the MD appears to be slightly denying that we actually have that money, and more to the point, inferring we have little to nothing to spend.
Why not?
Where is the cash going? Loan repayment? Debt? We know about Sports Direct, Edmiston House and other extra costs being around £30M, but is Robertson really telling us we’ve more or less broken even and no more?
What does this mean for January? Will we have little to money then too?
We’re not exactly thrilled with the messages from Ibrox right now.
I think rangers have to show all incomings and outgoings and profit margin at the agm or end of season accounts ,this will show it all .
I am guessing transfers in and out, in instalments .
They may also be keeping money by for a rainy day incase of emergencies ,this is not a bad idea .The smelly lot actually do this year on year as far as I know .
I heard the stadium is draining major costs as well ,said it before and will say it again ,if we can get a sponsor for it ,I would build a new one in time .
If it is good enough for massive clubs like man city ,arsenal ,spurs ,everton,bayern certainly good enough for us .
One point to note. If every club thinks we have millions in the bank then transfer fees will go up. Saying we’re tight for cash could be a transfer tactic?
I posted previously on here regarding last year’s financial statement, The Rangers already had debt forwarding to this year’s statement, the auditors stated that the club was a financial concern, there were deferred payments of large tax amount and loans outstanding. Only Patterson money can be shown on this year’s statement (earnings and spending up till end june) most of which went on Ramsey wages which cost The Rangers aprx £130k per week, the other sales mentioned go to next year’s June 2023 statement, but the full values mentioned will only be actual income, not future add ons still to be achieved, money earned running up to uefa final needs adjusting to cover costs during the competition, so it’s far less than expected, champions league cash is gained by match not given up front, a case of counting chickens before eggs hatch, The Rangers board are now trying to cover their backsides with releasing statements to bamboozle the supporters with stadium improvements, Celtuc have already released their financial statement but The Rangers have not, will the directors release it in December like last year, who knows what the next statement will be like, with the deferred payments and previous years losses it’s going to be difficult to appease the Faithfull fans, they are the ones keeping the club alive the directors are covering over the cracks, however those cracks are widening.
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