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Rangers: Manager Ally McCoist instructed to cut wage bill

 

 

By Alasdair Lamont

Senior football reporter, BBC Scotland

Rangers manager Ally McCoist has been told he will have to make cuts to his playing budget.

McCoist has been in discussions with Graham Wallace recently as the chief executive undertakes a comprehensive review of the Ibrox finances.

Wallace told shareholders at the annual general meeting in December savings would need to be made.

And the players' wage bill at the League One side currently stands between £6m and £7m per annum.

A spokesman for the Rangers board told BBC Scotland: "The CEO Graham Wallace outlined his strategy at the AGM and nothing is going to deflect him from getting Rangers back on an even keel.

"Graham and Ally are reviewing the football budget, as part of the overall business review and it would be inappropriate at this time to discuss any figures."

The news comes on the day that three million shares worth around £750,000 were traded in Rangers International Football Club plc.

The share price dropped as low as 24p early in the day before rallying slightly to close at 28.5p.

That is a fall from the 90p price at the launch of the share issue just over a year ago.

Earlier this week, McCoist signed off on a pay cut of around 50%, which he agreed to in October.

And consultant Philip Nash has been brought to Ibrox to help oversee the financial overhaul.

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Excellent news, long overdue. Our squad is a shambles anyway and needs gutted.

 

Perry, Hutton, Smith, Foster, Cribari, are a must to leave. McCulloch, Black, Hegarty, Mitchell, McAusland, Simonsen, Peralta, Shiels and even Daly are no use to us long term, i would let all of them go if possible. That is probably half of our overall playing wage bill there.

 

Only 2 players out of the first team in that list, with the league wrapped up it's the perfect time to go with some of the Under 20's to compliment the best of the rest.

Edited by Super Cooper
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Excellent news, long overdue. Our squad is a shambles anyway and needs gutted.

 

Perry, Hutton, Smith, Foster, Cribari, are a must to leave. McCulloch, Black, Hegarty, Mitchell, McAusland, Simonsen, Peralta, Shiels and even Daly are no use to us long term, i would let all of them go if possible. That is probably half of our overall playing wage bill there.

 

Only 2 players out of the first team in that list, with the league wrapped up it's the perfect time to go with some of the Under 20's to compliment the best of the rest.

 

I doubt Smith and Foster will go anywhere. Also it is one thing for a player to be no use in the long term but that doesn't mean you don't want to use them in the short term.

 

I'd be quite happy to see Perry, Cribari and Peralta move on. Apart from that I'm not convinced about the need to cut the playing squad though. Apparently players wages come to 37% of turnover. If so then I think the problem lies elsewhere. Also, is £7m/37% really to much for the top league? If Wallace wants to improve things then I think he is best to keep strict control over the terms for any new players that come in. He could also do something about increasing revenue and cutting off-field costs.

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I've said it before and I'll say it again: players under contract will be going nowhere unless they agree to do so.Normally this involves a pay-off which I can't see happening somehow.

Anything which weakens the first team squad is suicidal in my opinion.I notice as per usual we have the 'spokesman' giving out the quotes. Usually that means it's made up by lazy journalists

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Remember that a number of players contracts will be running out @ the end of the season eg. Cribari & probably a few others....

 

Also, there is nothing in the reports stating that Ally HAS to cut the playing budget.....it is simply under review (along with every other cost dept.)

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Even if anyone wanted our players there's a fine line between that and being able to afford their wages.

 

For example, I'm reliably informed we've offered Shiels to several clubs (including Hibs and ICT) but neither can cover his existing wages. As such you're either reliant on the player being happy to accept a substantial reduction or have to pay them off. Mutual termination may be cheaper than paying out a full contract but it hardly leaves room for being able to ensure you can replace people where necessary.

 

The fact that less than 2 years after going into administration we're still having to pay off players because we a) have a surplus of unneeded staff and b) we're incapable of negotiating sensible contracts initially continues to be a real source of frustration. Is Graham Wallace able to get us out of this vicious circle? And when will the people responsible (including the manager) admit their continued failings in this regard.

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Excellent news, long overdue. Our squad is a shambles anyway and needs gutted.

 

Perry, Hutton, Smith, Foster, Cribari, are a must to leave. McCulloch, Black, Hegarty, Mitchell, McAusland, Simonsen, Peralta, Shiels and even Daly are no use to us long term, i would let all of them go if possible. That is probably half of our overall playing wage bill there.

 

Only 2 players out of the first team in that list, with the league wrapped up it's the perfect time to go with some of the Under 20's to compliment the best of the rest.

 

We severely weaken the squad. Results worsen. Less fans turn up. Costs us money.

 

Genius. Just genius.

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