Posts: 18,124
Threads: 306
Joined: Sep 2014
Reputation:
21
Fairly predictable numbers there, but they need to make sure they turn a profit this season, running at a loss will not cut it fo them with their history!!
Posts: 8,019
Threads: 55
Joined: Aug 2015
Reputation:
3
They are still running at a multi million pound loss and are dependent on loans to continue as a going concern. 3 million pumped in recently just to get the auditors to sign off. Most of it drawn down. Revenue is up but only because the season book sales are included.
The figures don't include the wages or fees of the 11 players signed during the summer - including high earners Barton and Krancjar.
Court cases a-go-go in the wings. Including big mike.
Heard from a good source they are desperately seeking cash for their home games from other clubs.
Their plan seems to rest on getting their retail back,high crowds in the league and european football. Their position seems very fragile.
Posts: 219
Threads: 10
Joined: Nov 2015
Reputation:
0
Jim can they qualify for European football?, they have made a cumulative loss of well over the FFP rules.
We (Scotland) are not one of the big hitters, so I would expect UEFA to actually follow their rules.
" The acceptable deviation is EUR 5 million. However it can exceed this level up to the following amounts only if such excess is entirely covered by contributions from equity participants and/or related parties:
a) EUR 45 million for the monitoring period assessed in the licence seasons 2013/14 and 2014/15;
b) EUR 30 million for the monitoring period assessed in the licence seasons 2015/16, 2016/17 and 2017/18;
c) a lower amount as decided in due course by the UEFA Executive Committee for the monitoring periods assessed in the following years"
So they breach the 5 million euros bit easily with cumulative trading losses of 40 million sterling over 4 years
the issue will be will the losses be accepted as "excess is entirely covered by contributions from equity participants and/or related parties:" which is likely but be less than 30 m euro?
even if the qualify ask St Johnstone , or Aberdeen how much they make from going out in the qualifying Europa league games ?
and still 6 years of Ashleys contract to go so no or little retail moneys being generated
Huge additions to first team wages (Barton and krancjar 2 million per year between them + others)
Storys of huge infrastructure issues
Needing cash in September when Clubs are in theory cash rich is not a good sign
the fans have now seen how big the gap is between then and celtic both on the pitch and financially (they have even been in the papers asking for celtic to be handicapped FFS)
With celtic earning over 30 million from the champions league that gap will only grow as long as Rodgers stays.
Will rangers splash cash the don't have ?
or will the fans accept that they are second fiddle at best struggling to finish above Hearts, Aberdeen and st johnstone and going out of europe in august??
As a celtic fan I quite like this half dead version of rangers, its not the real one I know but its still good to watch them suffer
Posts: 219
Threads: 10
Joined: Nov 2015
Reputation:
0
Fred haven't they been punished enough ........think of the children ??????????????????????????????
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
If iv'e said it once i'll say it again Edgie, Oldco , Newco, Sevco no even if they got called Tesco,they were given no punishment.
Posts: 219
Threads: 10
Joined: Nov 2015
Reputation:
0
but but but the papers said they where, its an injustice so it wiz
they even paid the fine given 4 years ago
Posts: 8,019
Threads: 55
Joined: Aug 2015
Reputation:
3
Jim can they qualify for European football?, they have made a cumulative loss of well over the FFP rules.
We (Scotland) are not one of the big hitters, so I would expect UEFA to actually follow their rules.
Its down to the SFA at the end of the day edgie,and not a chance they will stop them being entered. As for the financial angle these games are worth a lot more to rangers than Aberdeen or saint johnstone,mainly because they will get tv money,and rake it in at the gate.
I just think to be reaching for emergency loans at this stage of the season (when most clubs still have season book cash) suggests the club isn't as well run as king tries to make out.
Posts: 2,774
Threads: 12
Joined: Sep 2014
Reputation:
1
Price of saying yer still the same club I suppose.
