Darthter 542 Posted December 4, 2012 Share Posted December 4, 2012 From todays DR: THE SPL has gone from a profit of £2million to a loss of £11.9m and Rangersâ?? drop into the Third Division is set to make matters worse. The latest annual financial review of the SPL, carried out by PricewaterhouseCoopers, says the loss of the Ibrox club and their fan base will create further financial damage. The report forecasts the loss of Rangers from the top flight will cost Celtic alone £2m a year, although their Champions League earnings should more than make up for that shortfall. David Glen, who put the report together, said: â??At first glance it appears the SPL only made a loss of £2.5m during the last year examined, which is 2010-11. â??But after delving deeper, and stripping out a one-off event like Heartsâ?? debt forgiveness of £7.8m, the true underlying loss of £11.9m is exposed. â??Diminishing income and declining television revenues have led to financial losses. â??The drop in TV fees after the deal was re-negotiated after the loss of Rangers from the SPL may lead to a further hit to clubsâ?? revenues. â??The implications of Rangers not being in the SPL could be stark for the clubs who remain there. â??The league was in the black in 2009-10 with an overall profit of £2m but now the game is under more intense financial pressure than ever before.â? Glenâ??s solution is for clubs to invest in homegrown players who can then be sold on for big profits. He said: â??The sale of Aiden McGeady to Spartak Moscow for £9.5m is a strong example of how this model can benefit a clubâ??s finances. â??Paying and playing within your means is key for the clubs in the SPL.â? Glen also admitted the ongoing global financial crisis has made its mark on Scottish football. He said: â??Revenue from season tickets, merchandise and ticket sales have dropped due to the ongoing squeeze on household incomes. â??The puzzle to be solved is clubs canâ??t afford to lose supporters but they canâ??t afford to attract quality players from other leagues. â??The main challenge these clubs face now is to shrink the cost bases, exploit revenue streams and keep their fans onside.â? I found the highlighted section of particular interest.....does anyone know exactly what it relates to??? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted December 4, 2012 Share Posted December 4, 2012 I suspect celtc will loose far more than 2 million 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted December 4, 2012 Author Share Posted December 4, 2012 I suspect celtc will loose far more than 2 million Most probably...but their Euro crusade will mask it perfectly! 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,245 Posted December 4, 2012 Share Posted December 4, 2012 ... so the money withheld from us by them (or was it the SFA) is essentially not there? Will they go bust if we sue them for this? 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,245 Posted December 4, 2012 Share Posted December 4, 2012 Most probably...but their Euro crusade will mask it perfectly! You do wonder how blind people were last summer. It was always going to be just one winner in the whole Rangers-SPL fiasco. The team who gained most by a) becoming instant title favourites for years to come (getting the best prize money along the way) and b) reaching the CL for years to come. For at the end of the day, only they will receive any significant money while the rest - as they always did - will simply look on. Lambs led to the slaughter ... And that Fate smiled upon them as they reached the money-raking CL group stages and let them win the Barca game puts the icing on the cake. They will be dancing on the graves of other SPL teams and eventually the SPL oblivious of the carnage created ... ere Fate will strike them down too. Maybe not this season, but soon enough. 0 Quote Link to post Share on other sites More sharing options...
biggordy 0 Posted December 4, 2012 Share Posted December 4, 2012 ... so the money withheld from us by them (or was it the SFA) is essentially not there? Will they go bust if we sue them for this? It's worth a go dB! Is this the real reason for "League reconstruction" ? 0 Quote Link to post Share on other sites More sharing options...
Jim1955 12 Posted December 4, 2012 Share Posted December 4, 2012 "Debt Forgiveness" I don't know what it means. We need one of our financial boffins to answer this one. 0 Quote Link to post Share on other sites More sharing options...
3909 04 0 Posted December 4, 2012 Share Posted December 4, 2012 You do wonder how blind people were last summer. It was always going to be just one winner in the whole Rangers-SPL fiasco. The team who gained most by a) becoming instant title favourites for years to come (getting the best prize money along the way) and b) reaching the CL for years to come. For at the end of the day, only they will receive any significant money while the rest - as they always did - will simply look on. Lambs led to the slaughter ...And that Fate smiled upon them as they reached the money-raking CL group stages and let them win the Barca game puts the icing on the cake. They will be dancing on the graves of other SPL teams and eventually the SPL oblivious of the carnage created ... ere Fate will strike them down too. Maybe not this season, but soon enough. Aye but it was worth it for that Euro glory night at Sellik Park. Made the hairs stand up on the back of, err, Aberdeen fan Richard Gordon's neck. It will be worth all the SPL clubs going bust for that night alone, as every SPL chairman will tell you. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted December 4, 2012 Author Share Posted December 4, 2012 "Debt Forgiveness" I don't know what it means. We need one of our financial boffins to answer this one. from some limited reading, it would appear that the person owed the money simply says, "och yer all right....dinnae bother paying that back". Based on that, Hearts were in debt to the SPL for £7.8m, and the SPL simply wiped the slate clean. If this is the case, what was the original debt for, and what were the reasons for writing it off??? And is it a fine example of the SPL assisting a club in financial difficulties?? 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted December 4, 2012 Share Posted December 4, 2012 Was it not debt owed to Mad Vlad, he more or less said he didn't want it paid back. 0 Quote Link to post Share on other sites More sharing options...
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