Rangers have to keep an eye on their spending or face financial woe again

[der Berliner 3,287]

While we are at it, you do wonder whether the club will take up the naming rights offer from the Newcastle man (name escapes me right now) again. It has become rather quiet about the two of them.

[Super Cooper 0]

Rangers losing millions, pissing money up against a wall and living outing its means, so why's new.

[chilledbear 16]

It would be worthwhile for Rangers to answer the question of finance, and if there are any thoughts gone into planning for the future.

[der Berliner 3,287]

It would be worthwhile for Rangers to answer the question of finance, and if there are any thoughts gone into planning for the future.

 

Well, in an ideal world we all would be able to look into the accounts (of each and everything/-one) on a daily basis. Just to satisfy our fears or well being. That will never be a real world though and as has been said, to double-check on the health of the club, people will have to wait till any results will be made public. The club (nor any other company this side of Saturn's rings) will not voluntarily publicise its results and financial dates. That said, to shoot down reports like the above, the odd remark by the CEO or chairman might ease some of the uneasiness.

[calscot 0]

While we are at it, you do wonder whether the club will take up the naming rights offer from the Newcastle man (name escapes me right now) again. It has become rather quiet about the two of them.

 

I think right now we need all the extra income we can pull in. It's the perfect time to rent the name of the stadium - if the offer is good enough and "Ibrox" stays in there somewhere.

[calscot 0]

"IT is a simple question with an answer which manages to be both surprising and somehow all too familiar: which Scottish club has signed the most players this close season?"

 

It's a strange question as the answer is obvious. It's the biggest club in the country, who lost about 25 players who didn't TUPE when transferring ownership to a new company, then had not much time at all to sign players before a year long, illegal transfer ban, who can now sign free players to play on September 1st when the ban ends. Surprise, surprise...

 

It's not exactly difficult if you know a few of the facts but hey, let's twist it.

 

It's even less surprising that nobody else is signing anyone when all the SPL clubs punted the goose that lays the golden eggs. Who mentioned 'financial mismanagement'?

[calscot 0]

PS It looks like an even more stupid article when you consider that Rangers are a huge club who average 45k fans, had such a small squad and are now signing players for FREE, and will have one of the lowest wage to turnover ratios in professional football. Oh my god, how galling...

[UCF2008 0]

I don't understand how anyone can be expected to believe that we've been losing £1m a month the whole time for the past 2 years. Through all the financial upheaval with Whyte, administration costs and legal fees, then for the past year significant restructuring, a massively reduced wagebill and turnover - how is it possible for the loss to have remained at a nice even £1m?.

 

Even if the monthly loss is now suddenly down to £400k (supposedly thanks to getting Alexander, Boca & Goian of the wage bill?) I don't see how our turnover has been reduced to around £13m

[calscot 0]

I would imagine we're making at least 12m from ticket sales alone, then another 1m from catering and 3m from merchandising - and that's just conservative guesses. Corporate packages must bring in another 2m and advertising/sponsorship, at least 5m. Then there's plenty of other revenue streams like the car parking, programmes, overseas streams, Rangers TV and you're looking at a conservative 25m turnover, down from 40-60m.

 

With wages of 7m that's a pretty low wage ratio, which even with the high costs of running Ibrox and police/security etc should still see a good possibility of us breaking even at some point.

 

If we're making a loss, how are all the Championship clubs surviving? In fact, how are the SPL surviving with half our wage bill but about a quarter of the income?

[UCF2008 0]

I don't see how we got that figure of £1m a month in the first place. Whyte took over a company which was going between posting a modest profit / loss year on year except fo the odd year where SDM went mad on transer budget. This was despite paying ridiculous sums in interest and repayments on our debt. Whyte (EDIT: Ticketus) then took away that burden and didn't pay a penny in tax. Yet D&P expected us to believe our club was running at that loss? Where was the money going?

 

Then we've got Green who's take on it will no doubt be 'When I took over we were losing £1m a moth and we could have made job cuts but we didn't because Ally wanted Lionel Messi.' It's all just BS as far as I'm concerned. They've been ripping us of this whole time.