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Tom English: Rangers flunked their finances


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Some highly pertinent questions in the Scotsman article not the least of which is:

 

Spot on. If it turns out that the current lot are no better than Craig Whyte was then we are screwed.

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Some fag packet maths.

 

£28m Turnover so far since Summer 2012 - Correct?

£25m Share issue - Correct?

 

£15m Players wages - Correct?

 

Yet we have posted a half year £7m loss and a full year £14m loss.

 

Does that mean we have spent £74m since Summer 2012 but only £15m on player wages? Help me out here. If so, where is the £59m?

 

Anyone.............

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Some fag packet maths.

 

£28m Turnover so far since Summer 2012 - Correct?

£25m Share issue - Correct?

 

£15m Players wages - Correct?

 

Yet we have posted a half year £7m loss and a full year £14m loss.

 

Does that mean we have spent £74m since Summer 2012 but only £15m on player wages? Help me out here. If so, where is the £59m?

 

Anyone.............

 

IPO? Spiv handouts?

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According to the last accounts, did we. It spend just over £10m on non-playing wages.....that is where the real cost cutting MUST be made.....

 

I can't help wondering why Graham Wallace saw the need to try cutting first team player salaries as one of the first parts of his cost cutting measures instead of this £10m non-playing staff wages which I'd have thought would have been no1 priority

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now that is a piece of worthwhile journalism. take note english.

 

It was good overall but this bit was wrong and keeps re-appearing in the press:

 

By any objective analysis, the problems at Rangers have one root cause – the club continues to operate as if it is in the top tier rather than in the third tier of Scottish football. So should Rangers have downsized to, say, Championship size?

yes we pay too much in wages for the league we are in but not compared to the size we are or our income over the last two years. it is elsewhere we've lost the tens of millions (had stolen) that is the root cause

Edited by SteveC
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I can't help wondering why Graham Wallace saw the need to try cutting first team player salaries as one of the first parts of his cost cutting measures instead of this £10m non-playing staff wages which I'd have thought would have been no1 priority

 

Have you seen the breakdown of that £10m? Only £1.6m went to directors. What from the £10m could we cut?

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