BrahimHemdani 1 Posted January 17, 2014 Share Posted January 17, 2014 Another interesing post from the LSE Chat He was only at Manchester City for 4 years and I would question how impressive that was. He oversaw a record loss of £197m in one year (2010-2011) - according to Guardian the wage bill was £21m higher than the total revenue! He did say at the time "Our losses...will not be repeated on this scale in the future", which was true. Man City only lost £97m the following year. They lost £121m the year (Wallace's first with the football club. Any football club in fact, having joined from a sports media company). So in summary, in the 3 years of his entire career running a football club, where accounts are available, Wallace oversaw a losses of £415m. I anticipate that when Citeh announce their most recent results shortly, they will also have incurred a loss. Now it is of course the case that Shiekh Mansoor was willing to wear those losses to fasttrack Manchester City's route to the top of the league (where, I am sure, their fans believe they belong) but I'm not sure any of this indicates "an impressive background in running a football club", rather it is more like the "fantasy football" games in the newspapers. Can he make cuts when needed? No evidence of that yet. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted January 17, 2014 Share Posted January 17, 2014 There we are. A storm in a bucket, helped by the supressed hysteria mode created by the media and some hyper-sensitive fans. Wallace does what he is expected to do. Checking the finances and getting the club back to a sustainable level. THAT is what all people on here want too, don't you? Mind you, reading some of the more drastical stuff on here about squad cuts and youngsters being good enough, you'd actually shake your head in disbelief. Obviously, people would rather see the end of hedge fund people buying shares and certain board members owning the club, or Stockbridge being sent packing. Fair enough, but one step at the time. I'm not sure what people are or were expecting Wallace would do? Wield the hatchet? Who is to say that this was the first cuts he was looking at, or the only ones he invisages. So far, this story made the best headlines and thus is blasted out like there is no tomorrow. Wonder who told the BBC ... Anyway, unless proven otherwise, I for one don't think he's one of the mean and naughty cabal and am prepared, for the time being (sic!), to take his words on face value. (And no, forlanssister, Wallace is not another Craig Whyte-scenario.) Jesus wept, it's back to Ye Olde " there's nothing to see it's all the mhedia's fault". 0 Quote Link to post Share on other sites More sharing options...
Waltersgotstyle 297 Posted January 17, 2014 Share Posted January 17, 2014 As I said in another post - if pay cuts is the best proposal Wallace could muster; then we are in serious trouble. We need to think of improving our revenues and cutting non essential - non playing staff. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted January 17, 2014 Share Posted January 17, 2014 (edited) Do we need Kirkwood, Sinclair and Gordon Durie at Auchenhowie? Does Ally need 2 assistants? Do they assistants both need to earn over half a million between them? Do we need a FD, CEO, finance consultant as well as Olverman and Dickson all on the pay roll? Do we really need them all? Do we really need Jack Irvine and Media House? Edited January 17, 2014 by Super Cooper 0 Quote Link to post Share on other sites More sharing options...
Waltersgotstyle 297 Posted January 17, 2014 Share Posted January 17, 2014 Do we need Kirkwood, Sinclair and Gordon Durie at Auchenhowie? Does Ally need 2 assistants? Do they assistants both need to earn over half a million between them? Do we need a FD, CEO, finance consultant as well as Olverman and Dickson all on the pay roll? Do we really need them all? You could add do we need Jack Irvine and Media House to that list... 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted January 17, 2014 Share Posted January 17, 2014 You could add do we need Jack Irvine and Media House to that list... I should have, sorry mate. No we don't. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,367 Posted January 17, 2014 Share Posted January 17, 2014 Fans slam 'incompetent' Rangers board RANGERS fans' chief Drew Roberton has hit out at the Ibrox board's 'incompetence' after players rejected a 15% wage cut. New Gers CEO Graham Wallace announced at December's AGM that costs would have to be reduced after Rangers International Football Club plc posted a £14million loss, although less than £8m of the near-£18m wage bill was being paid in football staff costs at that point. Just months after the board sanctioned several new additions to the Ibrox squad and weeks after they survived a fiery AGM, finance guru Philip Nash was appointed to help slash costs across the club. Supporters have voiced their anger at the under-fire board in recent months and Rangers Supporters' Association chief Roberton insists the Gers are paying for wrong decisions at the top level once again after players refused to take a wage hit. He told SportTimes: "If the finances are in that bad a shape, why are we paying a consultant? "Why does it take a consultant to tell the board the costs are too high? "The fans could have told them they had to cut the playing budget. "It is, essentially, the same people running the club from the last couple of years. "Whether it is incompetence or panic, they have overspent in an attempt to make sure they got back to the top as quickly as possible. "Wallace was taken on to make tough decisions and this is one. I would expect there is a Plan B after the wage cut was not well received. "We all knew he wasn't going to dish money out and wanted to make cuts. "What we don't know is if there are more cuts he wants to make or if this will be it." Chief executive Wallace has held a series of talks with boss McCoist in recent weeks as he looks to reduce the Ibrox playing budget and steady the financial ship. Fears have risen among fans that key men like Lee Wallace and Lewis Macleod could be sold this month and Roberton hopes there is a way of reducing the quantity but retaining the quality in McCoist's squad. He said: "The team probably will suffer but I would suggest that there are cuts to the playing squad that can be made that wouldn't detract from it too much. "I can see both sides. I wouldn't be critical of players for turning the wage cut proposal down. "But, at the same time, I wouldn't be too critical of Wallace for coming up with the idea." http://www.eveningtimes.co.uk/rangers/fans-slam-incompetent-rangers-board-148646n.23198587 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 17, 2014 Share Posted January 17, 2014 Jesus wept, it's back to Ye Olde " there's nothing to see it's all the mhedia's fault". The Ostrich Loyal are small in number, but big in determination! 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 17, 2014 Share Posted January 17, 2014 As I said in another post - if pay cuts is the best proposal Wallace could muster; then we are in serious trouble. We need to think of improving our revenues and cutting non essential - non playing staff. Pay cuts throughout the whole Club are as good a place to start as any because if all of the Club staff accept cuts then over 2.5 million can be shaved off the yearly wage bill in an instant. It would only be a starting point, but it's a fairly decent starting point. Next on the agenda should be making some redundancies, but these will be tough decisions. Does Rangers TV make a profit or a loss? If it makes a loss then it needs to be addressed like every other loss making aspect of the business. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted January 17, 2014 Share Posted January 17, 2014 Since the club came out of admin/liquidation/newco stuff, folk have been constantly slating the board about the wages paid to players being too high....now they are getting slated for trying to reduce the wage bill without releasing players - they cannae win!!! I would like to think reducing players wages will be one of a number of scenarios that Wallace will be looking to implement - it is the one that will have the most immediate impact. Give the guy a chance to do his job, and not scrutinise/criticize every move he makes, especially when we have virtually no 100% reliable information. 0 Quote Link to post Share on other sites More sharing options...
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