calscot 0 Posted December 23, 2009 Share Posted December 23, 2009 10 Mill is 8 figures, not 7....... :devil: Pedantic loyal OK �£9,999,999 You got me, I meant 8... Good job I'm not an accountant, eh? 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted December 23, 2009 Share Posted December 23, 2009 Borrowed from another forum: Gers Cash Boost Rangers, the financially struggling champions of the Scottish Premier League, received more than ââ??¬30 million from participation in this season's Champions League, despite exiting the competition after the group stage. Rangers, who benefited from the fact that rivals Celtic failed to qualify for the competition's group round, received ââ??¬7.9 million in prize money for group stage matches - despite failing to win a single match. Rangers recorded just two draws in the group, and suffered a humiliating loss against Unirea Urziceni at Ibrox. The team secured a point in the return fixture, as well as away in Stuttgart, but did not win a single one of their three matches in Glasgow. The ââ??¬7.9 million is far from the only financial gain Rangers will receive from the competition. According to a study commissioned by MasterCard, Uefa will make additional payments to group stage teams dependent on the commercial success of the tournament, which the report suggests could amount to approximately ââ??¬12 million per club. The study also suggests ticket revenues have generated an average of ââ??¬8.55 million in income from the group stage, with commercial and marketing revenues accounting for a further ââ??¬6 million on average. All told, Rangers have collected well over ââ??¬30 million from participation in the competition. That money could prove vital to the club's future, after a season so far dominated by headlines of financial woe. Rangers are far from alone in the Scottish top flight in facing such problems - the collapse of Irish broadcaster Setanta last summer left a huge hole in the league's revenues - but their dificulties have been more publicised than most. Manager Walter Smith will work without a contract from next month as the club's majority shareholder, Sir David Murray, tries to sell his stake in the club. That's also on news now, but not the most reputable news site. I take it with a pinch of salt and I would be more inclined to bet on the ââ??¬22M figure here. I'm hoping that we'll maybe get Ã?£20M and turn an 8M loss into a 10M profit. Bonuses were renegotiated, we didn't get any results and only had to stage 3 home games so costs can't have gone up much from last year. Add in a possible reduced wage bill and no signings but also the impact of less TV money and I think our costs can't have increased by much. If we win the league and get another Ã?£20M from the CL next year then we could be back in reasonable enough shape to start living within our means without the spectre of the bank over us - although we'd have to start budgeting without CL money... If we could get the debt down to about Ã?£20M with most of it coming from a 17M loan to be paid over 17 years, I think we'd be a pretty solid going concern. 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,878 Posted December 23, 2009 Share Posted December 23, 2009 Regardless of the exact number, we all knew we should make a nice wedge out of CL particiation. Just a pity we couldn't manage a wee run in the Europa to supplement the coffers a bit. What this does say to me though is that we absolutely MUST win the league and get this income again next year. But would this make potential buyers hold on to see how the league pans out? 0 Quote Link to post Share on other sites More sharing options...
Totti 0 Posted December 23, 2009 Share Posted December 23, 2009 Usually we require CL participation just to simply break even (failure to meet the group stages often means �£10M+ added onto the debt) so interesting to see if we have actually really made anything. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted December 23, 2009 Share Posted December 23, 2009 We've cut out wage bill and haven't bought anyone as well as renegotiated our bonus system which will have paid out little in any case. I think that suggests that we can make a profit this year. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted December 23, 2009 Share Posted December 23, 2009 OK �£9,999,999 You got me, I meant 8... Good job I'm not an accountant, eh? I needed to check it twice.... on my calculator.... Amazing what a difference a �£ can make 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,357 Posted December 23, 2009 Share Posted December 23, 2009 we made ââ??¬7.9m from the games, about ââ??¬10m from TV for Scotland, and about ââ??¬3m for the 3 homes games. So that takes you to about ââ??¬21m ?, bad maths from me ?? I doubt we will get ââ??¬10m from TV. I believe that Celtic got around Ã?£5m last year. and I doubt it will increase significantly. We'll probably clear around Ã?£14m-Ã?£15m. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,357 Posted December 23, 2009 Share Posted December 23, 2009 That's also on news now, but not the most reputable news site. I take it with a pinch of salt and I would be more inclined to bet on the ââ??¬22M figure here. I'm hoping that we'll maybe get Ã?£20M and turn an 8M loss into a 10M profit. Bonuses were renegotiated, we didn't get any results and only had to stage 3 home games so costs can't have gone up much from last year. Add in a possible reduced wage bill and no signings but also the impact of less TV money and I think our costs can't have increased by much. If we win the league and get another Ã?£20M from the CL next year then we could be back in reasonable enough shape to start living within our means without the spectre of the bank over us - although we'd have to start budgeting without CL money... If we could get the debt down to about Ã?£20M with most of it coming from a 17M loan to be paid over 17 years, I think we'd be a pretty solid going concern. It was a Ã?£12.7m loss, but that needs to be increased as we probably will not get the same tax credit as we did last year, and we'll make less on player sales, so your starting point is probably closer to a Ã?£18m loss, and if we then take Ã?£14m from the CL and savings of around Ã?£5m from the wage bill then we're looking at a Ã?£1m profit. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted December 24, 2009 Share Posted December 24, 2009 When can we expect our half year figures to be announced , or will they just wait till the end of year figures are ready 0 Quote Link to post Share on other sites More sharing options...
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