Bluedell 5,329 Posted February 21, 2011 Share Posted February 21, 2011 Next week Gers' financial figures are expected to show that the club's debt level has fallen to below the �£25m mark. Unless something has changed, the figures will not show the debt level. The interim results have not revealed this in the past. Now the Whyte deal WILL be completed before the end of the season and it will mean this: # The sale of the club will go through with Whyte aided by Ellis paying around �£33m for Murray's 92 per cent share. I thought Murray had around 85% now, following the transfer of shares to King. Rangers will be guaranteed a total of �£25m worth of investment in the playing budget over the next five years - in effect �£5m per season before any money brought in by Euro success and other avenues. This intrigues me. So if the club makes a loss of, say, �£8m one year, the club will still spend �£5m in the following year and presumably fund the �£8m as well? It's understood Muir and McGill - one of steel tycoon Murray's most trusted voices within his own empire - helped win a crucial vote to stave off a board bid to take the club's debt to �£50m. How is that possible? The club has to work within the bank facility...�£19m loan and �£15m overdraft. How can the directors mysteriously increase that? Sounds like someone's telling porkies. :admin: With that manoeuvre quashed, Lloyds were then persuaded to keep the club's annual player wage bill at the �£16m level and not engage in a policy of slashing it to �£10m-a-year that would have in effect have handed domestic domination to Celtic. Staff costs were �£28m last year. This again doesn't make sense. All in all, the article is total crap. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted February 21, 2011 Share Posted February 21, 2011 If Murray has any love left for our club surely yesterdays defeat and our clubs current financial malaise, will spur him on to completion on the safe hand over to whoever is wanting to buy our club. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted February 21, 2011 Share Posted February 21, 2011 If Murray has any love left for our club surely yesterdays defeat and our clubs current financial malaise, will spur him on to completion on the safe hand over to whoever is wanting to buy our club. Your really stretching it with that comment mate , he only has one love and that's his reflection 0 Quote Link to post Share on other sites More sharing options...
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