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

[Blue Moon 1,113]

I can't believe I am reading this.

 

Easedales should be hunted out the door. Taking advantage of our situation and making money out of it.

 

I don't know what but something needs to be done by the fans groups about this.

[the gunslinger 3,366]

Anyone knows when the interim results are due?

 

31st march at the latest. i think.

[the gunslinger 3,366]

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.

 

10 milllion left.

 

so still losing a million a month.

[der Berliner 3,247]

I can't believe I am reading this.

 

Easedales should be hunted out the door. Taking advantage of our situation and making money out of it.

 

I don't know what but something needs to be done by the fans groups about this.

 

BM, turn your ire at Laxey, the Easdales give the 500k interest free.

[the gunslinger 3,366]

BM, turn your ire at Laxey, the Easdales give the 500k interest free.

 

they will be getting a share of the laxley cash.

 

neat pr trick

[rbr 1,247]

BM, turn your ire at Laxey, the Easdales give the 500k interest free.

 

not a chance in hell they arent getting something out of this

[der Berliner 3,247]

We'll see ... or probably won't.

[calscot 0]

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.

 

You think that a hundred grand here and two hundred grand there for nothing in return is OK?

 

£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?

 

This is your best argument? You think we don't need a squad of players for our football team? I really don't know where you're going with this as it's totally absurd. You seem more interested in giving money to the spivs than having a successful football team. It kind of gives your extreme views on our team a bit of context.

 

You think paying players is bad but using the same money to pay excessive fees for a loan we shouldn't need is good? I keep getting offered 4.5% personal loans, my mortgage is less than that, we should at most need a three month loan which wouldn't have been necessary had we had a competent and honest person in charge of the money rather than someone we just paid a fortune to leave before he killed us. At that kind of rate a three month loan of 1m should cost about 11 grand, not 150. Let's be pessimistic and say 20 grand. So we are just giving away 130 grand and you think that's better than paying a player who's been injured?

 

You always have "passengers" in football squads, which is why you need a decent sized one. Some players get injured and some just don't work out. You can't predict which they will be. Football is what we are about, not paying massive interest for loans we shouldn't need. You just don't seem to get it.

 

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.

 

Are you McMurdo in disguise or something?

 

Before I answer, please provide exactly what each board member provides the club in return for their salary and share options and a comparison of their salary with similar board members with other successful clubs with a cross reference of key performance indicators and whether they have been met.

[TheTinMan99 0]

We should bump Laxey and let them have Edmiston house. It's sitting doing nothing anyway. Not sure why the car park is part of the security, if Edmiston house is worth a million. You'll need a degree in accounting to make any sense of next years accounts.

[the gunslinger 3,366]

We should bump Laxey and let them have Edmiston house. It's sitting doing nothing anyway. Not sure why the car park is part of the security, if Edmiston house is worth a million. You'll need a degree in accounting to make any sense of next years accounts.

 

ideal for a bus depot.