calscot 0 Posted February 17, 2010 Share Posted February 17, 2010 I think we'd probably need a better than mediocre run in the Europa league plus a couple of domestic cup runs to break even without CL money - and that's without spending on players. Basically we should have been budgeting that way for the last 10 years and used any CL cash as spending money on players spread over a couple of seasons. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted February 17, 2010 Share Posted February 17, 2010 I'm assuming we have quite a bit of income to collect as the second half usually ups the year's revenue significantly - probably half again... 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted February 17, 2010 Share Posted February 17, 2010 .Possibly with the prize money due to us, but I'm not certain if it would be possible to estimate the sum due to us from the �£340m TV market pool until UEFA have worked this out, which I'm led to believe doesn't happen until the tournament finishes. This makes sense when you consider that our percentage of TV market share for the Champions League can still change while the tournament is running as subscription numbers can quickly change going into the later stages and result in our share rising or falling. The club would still need to include an estimate of the income from the CL. It is a material amount and they would be duty bound to make an estimate of it and book it as income and a receivable. It will be included even though it isnt physically collected till the end of the season. Audited financials usually have terminology in the footnotes which state that for certain items estimates are used and those estimates could ultimately settle for a different amount. 0 Quote Link to post Share on other sites More sharing options...
maineflyer 0 Posted February 17, 2010 Share Posted February 17, 2010 Does this mean that by continuing to work as we currently are we would be close to breaking even (or better?) in a future season with no CL group stage money? I only ask because while we're looking good for CL group stage entry for next season, the following season's CL group stage entry is far from certain, so you'd like to think that we'd be working towards being able to operate without making a loss in a scenario where we don't make it to the group stage. That's got to be the Holy Grail for Rangers, breakeven without CL income. Which means there is probably some downsizing still to go unless we can improve things on the 'other income' side, particularly merchandising which has fallen well short of what could be achieved (IMO). Or else start producing and selling young talent. I think this is one of those times when, however reluctantly for some, you have to give Jack his jacket for a job well done. One Donald Muir, there's only one Donald Muir...... just joking!:devil: 0 Quote Link to post Share on other sites More sharing options...
OnlyOneAmoruso 0 Posted February 17, 2010 Share Posted February 17, 2010 Some excellent points raised on this thread. It's nice to see people not 'burning the witch' and not professing everything is rosy in the garden. 0 Quote Link to post Share on other sites More sharing options...
boss 0 Posted February 17, 2010 Share Posted February 17, 2010 Net debt isn't down to �£24m currently. I think it's more than �£30m. 0 Quote Link to post Share on other sites More sharing options...
OnlyOneAmoruso 0 Posted February 17, 2010 Share Posted February 17, 2010 Can you elaborate boss? 0 Quote Link to post Share on other sites More sharing options...
boss 0 Posted February 17, 2010 Share Posted February 17, 2010 Can you elaborate boss? Bluedell needs to take deferred season ticket money fully into account. 0 Quote Link to post Share on other sites More sharing options...
OnlyOneAmoruso 0 Posted February 17, 2010 Share Posted February 17, 2010 Wouldn't that be including in the June accounts? I realise you've said it's deferred. Is there a reason why that happened and does it happen every year? Do you expect Bluedells valuation to be truer in June 2010's accounts? 0 Quote Link to post Share on other sites More sharing options...
boss 0 Posted February 17, 2010 Share Posted February 17, 2010 Wouldn't that be including in the June accounts? I realise you've said it's deferred. Is there a reason why that happened and does it happen every year? Do you expect Bluedells valuation to be truer in June 2010's accounts? Happens every year. June is always the best position for the debt - season ticket money for the next season has been banked. I expect net debt to be �£25m+ at June 2010. 0 Quote Link to post Share on other sites More sharing options...
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