This latest revelation will be no surprise and I believe RFC's accumulated losses are much greater than this amount they are "hidden" by King. Also remember that they owe Mike Ashley millions of quid after losing a law court ruling on RFC sales of goods. As for the Kent "instalment deal" on a £7M purchase? Well that should be nullified immediately IMO!!
Rangers declare an £11M annual loss!!
02-11-2019, 02:35
(This post was last modified: 02-11-2019, 02:40 by St Charles Owl.)
They seem to lose money at about the same rate clubs in the English Championship do!! What was their total revenue?
Just looked it up, their revenues are 33m. They are doing better than we are then!!!! Their players salaries are in the 40% range, much better than us.
Just looked it up, their revenues are 33m. They are doing better than we are then!!!! Their players salaries are in the 40% range, much better than us.
02-11-2019, 21:30
There’s only one way this is going as things stand.
No business can operate with these figures, and it’s only a matter of time before one of their funders walks away, or one of the legal cases results in the bailiffs being called in.
The accumulated losses over the last 6-7 years are touching £60million. Sevco is the very definition of an unsustainable business. At what point do the authorities get involved ?
King has bet the house on winning the league - reckless doesn't even begin to cover it.
No business can operate with these figures, and it’s only a matter of time before one of their funders walks away, or one of the legal cases results in the bailiffs being called in.
The accumulated losses over the last 6-7 years are touching £60million. Sevco is the very definition of an unsustainable business. At what point do the authorities get involved ?
King has bet the house on winning the league - reckless doesn't even begin to cover it.
15-11-2019, 10:28
A bit of deflection from Rangers PR machine and spin doctor Jim Traynor over the last few days, HMRC press release saying there was no 'miscalculation'.
15-11-2019, 10:38
How are clubs like this still in existence? Bury were thrown out for much less.
Not all men are sexist but all men can stop sexism. CALL IT OUT!
15-11-2019, 13:29
(15-11-2019, 10:28)BouncingHibees Wrote: A bit of deflection from Rangers PR machine and spin doctor Jim Traynor over the last few days, HMRC press release saying there was no 'miscalculation'.
Absolutely agree that this was nothing other than a "smokescreen" that precedes a RFC AGM that is not as positive, in financial terms, as many members of the "Rangers appreciation society" would like it to be!!! Ayeit is easy to talk about the positive sides of their current footie situation but there are huge "question marks" attached to King's financial dealings and accumulative debt.
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