Bluedell
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Posts
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Everything posted by Bluedell
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It's not what you use but how you use it... ....as I'm sure our goalie would say.
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Cuellar by a long way.
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I did. The first site that it came up with was the government's own site which states that the UK's population is 60m and England's is 50m. http://www.statistics.gov.uk/CCI/nugget.asp?ID=6
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That's the population of the UK. England is around 50 million.
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As far as I am aware Murray makes nothing from the catering. Azure was sold and didn't make any money anyway. The catering contract would be up for review at some point and presumably the new owner would want to put it out to tender. Fair point about the car park. You would need to add Edmiston House to that. It would be interesting to see if they are included in any sale. I also suspect that Murray Park's ownership may be negotiable.
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Pete, I'm not sure where you get the figure of �£30m debt from. The net debt last June was �£16.5m. The half year accounts didn't mention the amount of debt, but it could well be towards the figure you mention, although I haven't seen anyone speculate as to what it was. We made a loss of over �£6m last year (the year to 30/6/07). We did make a profit of �£2.3m in the 6 months to 31/12/07, but that is a timing thing. The second six months are always far worse than the first 6 months, and we will make a loss in the 6 months to 30/6/08, excluding the Hutton transfer. My view on Cousin is that he will be 6 months older and he/we may not find a club that will be willing to pay the �£3m for him. I may be wrong, but I think we may struggle to get the full amount. As I said, I doubt that the debt will be that much better than it was at 30/6/07. Saying that, Murray authorised spending of over �£10m, but whether that was a one-off and whether it was because they believed that they could get good cash from Hutton, who knows. It would be great to get the debt down to single figures, but I doubt that we will get there unless we reach the UEFA final. Even with that I don't see many buyres appearing. The a bigger issue than what Rangers financial position is at the time of buying is the underlying financial problems in Scottish football and that is what will put people off. Just look at the loss of �£6m last year.
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Hope you enjoyed your day, mate. And hopefully the first of many....
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I usually stick up for Burke, but today was one of his worst performances for a while. I fail to see why Walter didn't substitute him at least 40 minutes earlier than he did as he was offering us nothing.
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I don't see why us winning a few trophies would make a buyer appear any quicker. We're probably stuck with Murray for a while longer.
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The cash from Europe will be used to pay our costs this year. The Hutton cash will be used to fund the spending from the summer (Carlos, Whittaker, Naismith, Cousin, McCulloch). Next year's CL run would be used to pay next year's expenses. I doubt we will sell Cousin for �£3m, and if we do we will need it for a replacement. Bottom line is that the debt will not be reduced much from what it was at the start of the year.
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Apparently if he plays a few more games we are liable to pay more cash for him, hence he is not getting played. He looked good when he came on as a sub, and probably warrented inclusion, but finance seems to be the main factor....as it was for Michael Ball.
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Nice one, Frankie.
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Rangers 2 : 0 Werder Bremen - Player Ratings and MoM Poll
Bluedell replied to Frankie's topic in Rangers Chat
Cousin for me, followed by Cuellar and Fergie. Allan McGregor - 8 -Completely assured. Never looked in any trouble Kirk Broadfoot - 8 Incredible work-rate and seemed to grow in confidence as the game went on. David Weir - 8 - lack of pace wasn'rt exposed tonight and had a very solid performance. Carlos Cuellar - 9 - Some outstanding defending tonight, making challenges which prevemted moves developing. Sasa Papac - 7 - return to the team and stopped anything developing down their right. Steve Davis - 8 - seemed to struggle with his position in the first half, but still did a power of work, but had an outstanding secomnd half. Brahim Hemdani - 7 - Cut out the mistakes of recent performances and even got forward a few times. Christian Dailly - 7 - Helped stop Diego and showed a lot of strength at the end of the game. Barry Ferguson - 8 - oozed class. Charlie Adam - 8 - looked our most dangerous player in the first half. Great pass to set up McCulloch. Daniel Cousin - 9 - Led the line brilliantly , scoring one and created the other. Who says he's a lazy bassa? Lee McCulloch - 5 - Why look round? Walter - 10 - tactics spot on. -
Rangers 3 : 1 Aberdeen - Player Ratings and MoM Poll
Bluedell replied to Frankie's topic in Rangers Chat
Davis MOTM. Adam was inconsistent. did a lot of good things, but started to get cocky and lazy in bits as well. Inconsistent. Boyd won a few balls, but on the whole contributed very little. -
It wouldn't surprise me if they had achieved it to a greater extent than us.
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I thought that was what I kinda said....
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Do we know for sure that they have done it? I agree with you but if few other clubs are doing it, it makes it difficult for us be different as it could be offputting for players. They would probably want to go where they know theysalaries are guaranteed.
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Between 2001 and 2004 the amortisation charge was "accelerated" which resulted in the value of the players being reduced on the balance sheet. The accounting policy never changed but they had the option of increasing the charge, but from 2000 onwards the players have always been on the balance sheet. I'll see if I can go further back than that, but goodness know where I have the accounts.
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The close season is when we have all of our season ticket cash in, so it's potentially when we have our cash is at its highest level. I don't think it would make that much difference, mate.
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Difficult to say due to the lack of detail given in the half yearly accounts. I doubt it though. It's just that the European income mostly comes in the first half of the year.
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Our problem is that we seem not to be very good at that kind of thing. Look at Northern Spirit and that Chinese team. We had Reyna for example and didn't seem to make any headway in the States. I also don't believe that Celtic make as much from this as they like to try and make out. Although perhaps we have started with the loan deal of Steven Davis.
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Last year's expenses in the 2nd half of the year were �£23.0m compared to �£23.7m in the first half. This year's expenses for the 1st half of the year were �£30.0m. I don't see any reason to think that expenses in the second half of the year will not be of a similar size. We made a loss of �£5m in the second half of last year. We will get some more income from the UEFA and the 2 domestic cups, but not enough to offset the increase in expenses, so my �£5m loss figure for the second half of the year looks very conservative. I just can't see any way we will break-even before Hutton and Cousin. Agreed.
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Had a further think about this. Perhaps the prevous policy was to estimate the value of the player at the end of the contract, and write off the difference bewteen the cost and the value, and this was changed? It would kinda fit in with what you are saying. I'll see if I have any accounts from the 90s in the house and check....although the chances of me finding them are slim.
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What you say rings a vague bell with me as well, but it's not the case. The 2007 accounts themselves confirm that "the costs...are capitalised..and are amortised over the period of the respective contracts." The 2007 accounts show a value for players of �£9.8m in the balance sheet, which is after �£3.8m being written off in the year.
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I enjoyed replying, mate It's always good to have someone question your analysis as I may have missed something. I still may have done due to the extreme lack of information in our accounts. I do feel a little pessimistic about the whole thing. We broke even 2 years ago after qualifying from the CL. I thought the CL income had increased and our cost base had decreased so we should have been looking at a small profit pre-Hutton. However it seems that our cost base has started to increase again, unless the club have written off more of the transfer fees than I think.