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Sports Direct


Guest carter001

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I think most fans will accept a stadium naming rights deal, but the new owners need to be very careful about it and definitely not sell the naming rights on a long term basis unless the money is stunning. All the rumours we've heard so far combined with a little logic point to it not being a lot of money we're looking at for selling the stadium name at the moment, so it really has to be a short term deal. With a long term naming rights deal we should ultimately be looking at the buyer essentially paying for a stadium refurb, upgrade & expansion package in exchange for a long term contract (5 to 50 years depending on the level and cost of the stadium development work they'd be willing to undertake).

 

Regarding the kit: After everything that's happened, the kit manufacturer somehow seems more trivial than ever before, but I think if it's Puma it'll be received as a sort of 'oh well' type affair. Quite a lot of people will be disappointed at us not managing to get Adidas, but nobody is going to make a fuss about it unless the new strip is very poor quality or a horrific design.

 

I don't think it not being Adidas is a bad thing myself but I suppose everyone has their own preferred brands. I just feel that with the 3-stripes it seems to reduce the options with the shirts.

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A £9m-£10m loss this year makes a very big dent in the share issue money raised! This has to be reduced somehow.

 

This is the first I've heard about such a substantial loss being projected. We've been talking about the loss making subject on the forum since Green mentioned it at that recent meeting with some fans, but IIRC the highest figure mentioned was shorerdbear saying he'd heard a loss of about £3.5m was projected.

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any ideas of ins and outs, roughly?

 

Rangers Profit & Loss Model

Table 2: P&L

Year to 30th June 2013F 2014F 2015F

Match Day 13,467 15,210 17,052

Non-Match Day 17,515 23,957 29,512

Total Revenue 30,982 39,167 46,564

Operating Costs -32,613 -32,548 -34,623

EBITDA -1,631 6,619 11,941

Depreciation -420 -420 -420

Operating Profit -2,051 6,199 11,521

Finance Charge -714 -556 -494

PBT - pre player trading -2,765 5,643 11,027

Player Trading Net Gains/Losses 870 - -

Cenkos PBT -1,895 5,643 11,027

Taxation -1,031 -1,303 -1,460

Profit After Tax -2,926 4,340 9,567

 

Minority Interest (Sports Direct International) -3,266 -4,129 -4,624

 

Profit Attributable to Rangers' Shareholders -6,192 211 4,943

 

 

Reported P&L

Amortisation Goodwill -12 -12 -12

Amortisation of Players -1,450 -1,130 -580

Exceptional Charges -3,667 - -

Operating Profit -7,180 5,057 10,929

Finance Charge -714 -556 -494

Exceptional Finance Charge -750 - -

Player Trading 870 - -

PBT -8,644 4,501 10,435

Tax -1,031 -1,303 -1,460

Exceptional Tax - - -

Profit After Tax -9,675 3,198 8,975

 

Minority Interest -3,266 -4,129 -4,624

 

Profit Attributable to Rangers' Shareholders -12,941 -931 4,351

 

 

Sorry, not very easy to read.

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Thanks Plgsarmy.

 

The EBITDA & operating profit numbers for 2013 are the important ones and don't look too bad to me (they give the underlying trading performance -and show a managable couple of million shortfall in 2013). Most of the rest of the forecast losses are exceptional, non-recurring items.

 

As long as the cash position is healthy, and I'm sure it will be, CG won't mind posting a big accounting loss in year one. He can always offset future year profits against it for Corporation tax purposes.

 

Btw, if the source is genuine, then don't expect a £10m signing war chest, as there's zero net expenditure on transfer fees forecast in '14 and '15. Also, overall operating costs only go up by a couple of million over the same period, suggesting that player wages aren't going to increase that much even if we're after out of contract players only.

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Use Sports Direct a lot, they sell good stuff at stupid prices.

 

But if any Sports Direct management are reading FFS stop sending out the huge bloody mug when I buy online.

 

On a serious note what the Hell is the hold up with the shirt deal and stadium branding, Green has been bumming this up for a couple of months and all we are getting is silence on the final deals, not god enough.

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