Rangers Announce Secure Loan - £1.5m. Repayable by 1st Sept

[Calgacus 8]

Thanks and I read it twice as well; obviously too early in the morning for me.

 

I've deleted the post.[/quote

 

What's the betting that we only ever use the Laxley facility and the Easdale loan is nothing but an empty PR gesture?

[Super Cooper 0]

Why is it just season book money we are waiting on? That won't be enough to keep us going. Where and what are our other revenue streams? What has the £3m annual JJB payment been replaced with? What do we get from Puma, sponsors? What happens if we don't increase our turnover from last years £19m?

[calscot 0]

How much money did we have left in the bank at the end of last season? If you add that to the loans then it seems that's what loss we have made in the last year.

 

The positive is that it looks to be a lot less than the year before, but the negative is that we still can't survive without outside funding which is obviously unsustainable.

 

The board will expect an increase in revenue from a hike in ticket prices for next season but the question is, will that be fulfilled by a very disgruntled fan base who don't trust said board?

 

I still believe the squad expenditure is in proportion to our income, but we still seem to be hemorrhaging money to give windfalls to board members and certain large investors. The player wage bill actually seems to be low in comparison to the total bill and there are surely cuts that can be made, not least starting with the boardroom and executives, but also the bloated wage bill for the rest of the operations. The latter seems out of step with other large clubs with low TV income like Leeds Utd and the Sheffield sides. Those clubs simply couldn't afford to run Ibrox as their stadium under the current costs.

 

Unless we now earn at least 1.65m more than we earn in the next six months we're going to need further funding from a share issue or loan, and the only optimism left from that is the possibility of Dave King heavily investing. However, I can't see that as something the current larger shareholders and the board will welcome. It seems like the gravy train has not yet reached the terminus.

[Super Cooper 0]

 

we still seem to be hemorrhaging money to give windfalls to board members and certain large investors.

 

there are surely cuts that can be made, not least starting with the boardroom and executives,

 

Any proof of this since the last set of accounts came out or indeed Wallace came on board?

 

And who within the board room who is taking a wage should we get rid of? Who exactly did you have in mind?

 

Thanks.

[calscot 0]

Any proof of this since the last set of accounts came out or indeed Wallace came on board?

 

You seem to be fishing for something, I don't know what. There are plenty of examples with Stockbridge given a huge payoff for being incompetent and losing us millions, Laxey now have a £150k pay off for a short term loan that according to the CEO (and Stockbridge) shouldn't have been required. That is not normal rates. You really want proof for those?

 

And who within the board room who is taking a wage should we get rid of? Who exactly did you have in mind?

 

You actually think the board are value for money? Personally, I'd get rid of all of them if I could.

[Super Cooper 0]

You seem to be fishing for something, I don't know what. There are plenty of examples with Stockbridge given a huge payoff for being incompetent and losing us millions, Laxey now have a £150k pay off for a short term loan that according to the CEO (and Stockbridge) shouldn't have been required. That is not normal rates. You really want proof for those?

 

You actually think the board are value for money? Personally, I'd get rid of all of them if I could.

 

Yeah, proof of sweeping statements. You said "we still seem to be hemorrhaging money to give windfalls to board members and certain large investors."

 

Plural, you gave one example of each and even that was someone having their contract paid up, not a windfall. How else could the club get out of that one? The other was something which has only came to light this morning. £150k is hardly a windfall is it, if they even get it? As wrong as it is, it's the annual salary of a Kyle Hutton or Ross Perry. Do you have similar issues with our playing squad being made up of many passengers like that?

 

What money is the board actually getting? Do you even know who is on the board and what money we are throwing at them, if any? Stockbridge, Green, Murray, Smith, Mather, Ahmad, Hart, Smart and Cartmel are all gone so who do you have a problem with and what is their salary?

 

I want them gone too but we can't get away with such sweeping statements claiming we are throwing money at board members without backing it up with names and numbers.

[Crimson Dynamo 128]

I doubt we can expect anyone to give us an unsecured loan, particulalry given the way Ticketus got "shafted", so don't have an issue with it. the security is only an issue if we can't repay the loans, and if we are in that situation we have much bigger problems.

 

You have to wonder why one of our Directors requires a secured loan though, do they know something

[Bluedell 5,329]

You have to wonder why one of our Directors requires a secured loan though, do they know something

 

Not necessarily. It may be possible for the Easdales to be forced to resign as directors, for example, and then they couldn't control the repayment. It just makes good business sense to have it secured.

[der Berliner 3,247]

Anyone knows when the interim results are due?

[andy steel 0]

James and Sandy - Brothers in Altruism!

 

The missing chapter in Robert Tressell's 'Ragged Trousered Philanthropists'.

 

To be fair to the RTP's, they actually worked. Our two ponce off pensioner bus passes.