Zappa 0 Posted August 14, 2012 Share Posted August 14, 2012 The debt was terrible then, that's why Kaunas was such a disaster. I think the debt had been brought down to a relatively low level by the end of the 07/08 season, but after the successes and near misses of that season including getting to the UEFA Cup final, David Murray then allowed Walter to embark on a bit of a spending spree. The strange thing for me wasn't that Murray allowed Walter to buy in something like £18m worth of players that summer, it was that he allowed the spending spree to go through the roof and hit that level AFTER we went out to Kaunas and that's when our debt really rocketed back up again. It has to be said though, that all-in-all the NET spend for that summer's transfer window activity was probably only something like £5m because of selling Cuellar, Cousin and others. The debt rocketed on paper because of going out of Europe and also because of the fact that our NET initial payments for players bought was far higher than our NET initial payments for players sold. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted August 14, 2012 Author Share Posted August 14, 2012 I think the debt had been brought down to a relatively low level by the end of the 07/08 season, but after the successes and near misses of that season including getting to the UEFA Cup final, David Murray then allowed Walter to embark on a bit of a spending spree. The strange thing for me wasn't that Murray allowed Walter to buy in something like £18m worth of players that summer, it was that he allowed the spending spree to go through the roof and hit that level AFTER we went out to Kaunas and that's when our debt really rocketed back up again. It has to be said though, that all-in-all the NET spend for that summer's transfer window activity was probably only something like £5m because of selling Cuellar, Cousin and others. The debt rocketed on paper because of going out of Europe and also because of the fact that our NET initial payments for players bought was far higher than our NET initial payments for players sold. Yet Murray had the nerve to claim he didn't rely on Euro money. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 14, 2012 Share Posted August 14, 2012 The debt was terrible then, that's why Kaunas was such a disaster. that was 4 years ago. 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted August 15, 2012 Share Posted August 15, 2012 (edited) our debt increased after manchester, before the kaunas season, spending so much after kaunas and then going out of europe embarrassingly was one of the most disastrous things to happen to rangers. it was disgusting financial management from murray and bain and pathetic on-field management by walter. Edited August 15, 2012 by kuznetsov 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted August 15, 2012 Author Share Posted August 15, 2012 The Cuellar money should probably never have been used to spend either. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted August 15, 2012 Share Posted August 15, 2012 Any football manager will spend if given the go ahead, whether it is affordable or not. Ally will be the same if allowed. I hope Green keeps a tight reign. 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted August 15, 2012 Share Posted August 15, 2012 The Cuellar money should probably never have been used to spend either. spot on, that money didn't even cover the bonus's paid to players for the season before. 0 Quote Link to post Share on other sites More sharing options...
foggy dewhurst 0 Posted August 15, 2012 Share Posted August 15, 2012 lets not spend more than we can afford and we will be allright . 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 15, 2012 Share Posted August 15, 2012 having a quick check 2006 net debt was 6 million ish. we has 23 million cash at bank. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted August 15, 2012 Share Posted August 15, 2012 spot on, that money didn't even cover the bonus's paid to players for the season before. we turnbed a sizeable profit that year. 12 million ish. 0 Quote Link to post Share on other sites More sharing options...
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