Zappa 0 Posted January 24, 2013 Share Posted January 24, 2013 Here's a point from last night's meeting that I thought was maybe worthy of discussion in a new thread: Green apparently said at the meeting that we're running at a loss and the reason for it is the wage bill, specifically high earners who've been kept on because we'll need them on our return to the top. Not his exact words, but that's the gist of what was said by the sounds of it, right? Well, how many times has Green boasted about the health of our finances and that our wage bill has been massively reduced to a fraction of our turnover? He's talked about it repeatedly including during his recent interview on Sky, so I find it hard to fathom how it can be both. He can't say we've massively reduced the wage bill to a fraction (was it about a third?) of the turnover, then turn round the next week and say we're running at a loss this season due to the high wage bill. Am I missing something here or is this a complete contradiction? 0 Quote Link to post Share on other sites More sharing options...
DUDE 0 Posted January 24, 2013 Share Posted January 24, 2013 It is a contradiction and really a bit of a letdown. The club did nothing to increase the wage bill recently did it. 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted January 24, 2013 Share Posted January 24, 2013 If the loss is sustainable and can turn into a profit soon it's likely still healthy. I'm hardly surprised, we're a club with European like infrastructure in Scotland's bottom tier. No staff were made redundant, there's no change to the running costs and the wage bill is reduced but still massive for this level. I believe he was talking about all our staff when he mentioned wages. 0 Quote Link to post Share on other sites More sharing options...
EDGE 0 Posted January 24, 2013 Share Posted January 24, 2013 I don't see how we can be running at a loss. We must have £12m worth of season books sold, just raised £20m via a share issue and have pulled in money from Edu etc. Either he's talking shite or someone has trousered a few quid. Probably a bit of both. 0 Quote Link to post Share on other sites More sharing options...
UCF2008 0 Posted January 24, 2013 Share Posted January 24, 2013 I would have expected momey set aside to develop the business (Ibrox, Rangers TV etc.) could account for us reporting a loss this season. I'm surprised the wage bill is being blamed. Sure, if you were to singularise everything then the wage bill would most likely be the highest running cost, but that's kind of common in business is it not?. 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted January 24, 2013 Share Posted January 24, 2013 (edited) alexander and mcculloch will be no use to us by the time we are back in the top flight. indeed neither will the likes of black, kyle or sandaza. so if that is what green meant then he is talking nonsense. green has been slabbering for months about how healthy we are financially and how rich we are, bragging about no debt etc etc and how ally will have tens of millions to spend and now says we are running at a loss. an incredible statement. what i want to know is why is costs £1m per year to run auchenhowie???????? how is that possible? it would also be interesting to know how much ally and his backroom team take home. does that outlay justify the success? anyway, apparently alot of new companies post losses in their first year, maybe something to do with tax i read??? we may have had record season ticket sales but thousands of them will be the £70 kids ones amounting to not much at all. match day ticket sales cant be much either at only £15 a pop. out of two domestic cups already meaning no more income there. Edited January 24, 2013 by kuznetsov 0 Quote Link to post Share on other sites More sharing options...
kuznetsov 0 Posted January 24, 2013 Share Posted January 24, 2013 I don't see how we can be running at a loss. We must have £12m worth of season books sold, just raised £20m via a share issue and have pulled in money from Edu etc. Either he's talking shite or someone has trousered a few quid. Probably a bit of both. he cant be including the share issue and if he is then he is another craig whyte! 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted January 24, 2013 Share Posted January 24, 2013 I don't see how we can be running at a loss. We must have £12m worth of season books sold, just raised £20m via a share issue and have pulled in money from Edu etc. Either he's talking shite or someone has trousered a few quid. Probably a bit of both. Minimal money from Edu etc, we lost out on a tonne of money from playing assets thanks to the traitors. I don't think the share issue money will be counting in this at the moment. If we're still running at a loss in a year's time or so I'll be concerned. 0 Quote Link to post Share on other sites More sharing options...
foggy dewhurst 0 Posted January 24, 2013 Share Posted January 24, 2013 and he has stated in the recent past about spending money on the stadium whats going on???? 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted January 24, 2013 Share Posted January 24, 2013 I would have expected momey set aside to develop the business (Ibrox, Rangers TV etc.) could account for us reporting a loss this season. I'm surprised the wage bill is being blamed. Sure, if you were to singularise everything then the wage bill would most likely be the highest running cost, but that's kind of common in business is it not?. Green could probably have reduced it through redundancies. 0 Quote Link to post Share on other sites More sharing options...
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