BrahimHemdani 1 Posted December 2, 2011 Share Posted December 2, 2011 There's quite a few unanswered questions here. To anyone knowledgable about finances and accounts willing to speculate based on the figures available: How are the club's finances likely to look next summer if say £10m isn't brought in in the January transfer window? Need to do a bit of work on the figures but the broad answer is almost certainly much worse than as at 30 June 2011 because income will be way down with the loss of European money and expenses will be up with the new contracts for McGregor, Davis and Whittaker and I think I am right in saying a bigger playing staff overall. I would hazard a very quick guess at a £10M trading loss for the year with a knock on effect to net debt. We will know better when we see the half year figures which are due next month! 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 2, 2011 Share Posted December 2, 2011 What about the running costs from now till the end of the season BH? Some people seem to be saying or insinuating that that could be an issue as well. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted December 2, 2011 Share Posted December 2, 2011 What about the running costs from now till the end of the season BH? Some people seem to be saying or insinuating that that could be an issue as well. That might well be true as there is very little ongoing income once you get season ticket money and don't have any European games, hence the matches with Liverpool and Hamburg to bring in a few sovs. Once we see what the cash in hand and at bank is at the half year it will be easier to judge. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 2, 2011 Share Posted December 2, 2011 Another question for you BH: Why do you think Whyte came along shortly after Ellis (who was close to the RST), bought the club for a quid and put Ellis on the board or directors of the shareholding company? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted December 2, 2011 Share Posted December 2, 2011 your the expert. would out top line not have risen had he injected cash or does that not show in turnover? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted December 2, 2011 Share Posted December 2, 2011 ............ and no particular sign of any investment by Mr whyte that I can see. Could be contained within the £2.9m increase in creditors? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted December 2, 2011 Author Share Posted December 2, 2011 your the expert. would out top line not have risen had he injected cash or does that not show in turnover? Doesn't show in turnover. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,386 Posted December 2, 2011 Share Posted December 2, 2011 Rangers face Euro ban unless accounts are signed off by independent auditor Dec 2 2011 Keith Jackson TOP BRASS at UEFA last night warned Rangers face expulsion from European football next season unless the club's financial house is put in order. Record Sport can reveal that as things stand, the SPL leaders would be denied an £18million ticket into the Champions League even if Ally McCoist led his side to a fourth consecutive league title - but Rangers sources insist they still have four months to ensure their accounts are signed off and submitted to the SFA ahead of the March 31 deadline. The Ibrox club have breached UEFA president Michel Platini's tough new Financial Fair Play Regulations by publishing their latest set of account WITHOUT having them signed off by an independent auditor. On Wednesday night, the club announced their annual financial figures for the year ending on June 30 to the PLUS Market but, for the first time in the club's history, the figures were not approved by appointed accountants. Edinburgh firm Grant Thornton have refused to discuss why they have not signed them off but UEFA have made it clear Rangers will be denied entry into the Champions League or the Europa League unless their accounts are rubber-stamped before the end of the current campaign. It's understood Rangers have until December 31 to publish a fresh set of figures and then lodge them with Companies House in Edinburgh. But if those results are not given a clean bill of health by the auditors, the club's chances of being granted a licence in time for next season will be damaged further. Although the situation would then become ever more serious, the stricken club believes the vital date for Euro approval will not arrive until next March. A UEFA statement read: "Glasgow Rangers FC, as with any club participating in UEFA competitions, will have to go through a licensing process which the national association in question manages. "Subsequently, the national association (not UEFA), the SFA in this case, will assess whether or not the club has fulfilled the mandatory licensing criteria. "This will take place in March/April. If the answer is yes, the club can take part in UEFA competitions next season and if not, they won't receive a licence." The SFA, who last night announced their own probe into Rangers owner Craig Whyte, are already aware of the breach in Platini's policy. They are now bracing themselves for the potential fall-out should they be forced to freeze a member club out of European football. The Hampden beaks refused to comment on the situation last night but, as things stand, they would have to turn Rangers down flat. UEFA's Club Licensing and Financial Fair Play Regulations article 47 spells out the need for all financial results to be signed off by auditors. It says: "Annual financial statements must be audited by independent auditors." And last night an SFA insider informed Record Sport that Rangers will have to "work extremely hard" between now and the spring if they are to pass UEFA's criteria. The source said: "When Rangers submitted their application for this season they were up front about a number of financial issues they were dealing with. "They were in dispute with the tax man but this was declared and, as it was a legitimate dispute, it was allowed and they still satisfied the criteria. "But if they do not satisfy the criteria this time then they won't get a licence for Europe. "There is a lot of work to do before they can qualify. Right now Rangers and the SFA are in a difficult position. The club has an obligation to provide a signed set of accounts and if they are unable to do so then their application cannot be approved. "It really is becoming quite a serious mess." 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted December 2, 2011 Share Posted December 2, 2011 Surely our running costs [wages] have increased because of the new contracts given to Davis etc. When we come to sell these players, we will be in a better position to maximise their true worth because of these contracts. It might not show in the books, but we will be better off in the future than we would have been. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted December 2, 2011 Share Posted December 2, 2011 The good old Daily Rhebel never miss a chance to make a mountain out of a molehill and twist the knife. By the way what was the Septic score in midweek oh that's right they got beat in Europe AGAIN and we get a negative Rangers story surprise surprise. 0 Quote Link to post Share on other sites More sharing options...
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