£70.7m where has it gone ?

[simplythebest 0]

They contributed and voted for the status quo whereby they controlled who was appointed to the board and did not wish any change to that via non-hedge fund aligned board members.

 

Stockbridge was defended time after time by these appointments and was only forced to resign due to the vigilance of his critics. However, even his critics will agree that he wasn't solely responsible for our dreadful performance.

 

Those responsible remain in charge and, as highlighted in an earlier post, seem reluctant to openly address the severe challenges the club faces.

 

They defended him publicly, I'd think it was a different story behind closed doors especially when they looked into things further, the fuss over Wallace's AGM comments is likely due to Stockbridge misleading him.

 

I don't buy into the idea that every board member is the same because the shareholders at the same, indeed they'll have gone after a man like Wallace with a more impressive CV than Green or Mather because they want better management.

[Frankie 8,157]

With all the doom and gloom on our chances next season, is it not usual to think that a team that completely cake walks the league at one level with supernormal results, should perhaps have a good chance of competing in the level above?

 

Of course there is a difference between competing and guaranteeing promotion, but while it is difficult to quantify our level against those of the Championship with the likes of Hearts, there is little evidence to suggest we will struggle.

 

Hearts will not be in a better position than ourselves, squad and resources wise. I think it mostly depends on how the SPL level players we have and our manager perform at the level above.

 

I personally would prefer to strengthen the squad but can't see the cause for the extreme pessimism.

 

There's a big difference between League 1 and the Championship and it's not been pessimistic to appreciate the challenge ahead of what will be a difficult year.

 

Should we be promoted? Absolutely and I think we will. However, there's no guarantee and that should not be the case when we've spent £70m already since administration.

 

What's even worse is that off the pitch there are even less assurances when it comes to the club's viability.

[RANGERRAB 3,268]

I think people need to realise too that we were never exactly going to make money going up the divisions from the bottom tier. I think for the best part we have to grin & bear it and hope we get back to the top division ASAP and earn money in Europe.

I was one of the few who opposed starting in SFL3 at the time for the simple reason I didn't think it was affordable.

Also I believe McCoist was absolutely correct to go with experienced players as we went up the divisions and that was going to cost us mainly in paying them high wages to get them to agree to drop down the divisions. That was always going to cost money.

[Frankie 8,157]

They defended him publicly, I'd think it was a different story behind closed doors especially when they looked into things further, the fuss over Wallace's AGM comments is likely due to Stockbridge misleading him.

 

I don't buy into the idea that every board member is the same because the shareholders at the same, indeed they'll have gone after a man like Wallace with a more impressive CV than Green or Mather because they want better management.

 

Why would you publicly defend a man of Stockbridge's ill-repute if you privately thought he was incompetent? Why also would you pay him his full wage upon his resignation? But, hey what's another £200K when you have money to burn....!

 

I'm not for a minute saying that every board member is the same but what I am saying is that their performance may be limited because of those who make the real decisions. If that's the case then CV's don't even come into it. But it's interesting that despite the fantastic Wallace pedigree you keep telling us about, he was misled so easily. Perhaps that can explain the rest of the mistakes he's made so far - along with the generic mediocrity he's brought to the role.

 

What has changed at Ibrox since this 'new' board were installed? Some slightly improved financials? Sure, that had to happen or all our investment would be done for. Other than that, I'm really not sure we can point to something which gives us great encouragement. Not when the board are going to great lengths to hide lawful data from shareholders.

 

Now, it's very easy to be negative and I try hard every day not to be. However, as long the club board and their employers refuse to outline the way forward and/or engage with fans, then I'm afraid suspicion and cynicism will be the order of the day. Only Rangers FC can change that. So far, over two years since administration, they have failed to do so... That is damning of all who've been involved - then and now.

[Frankie 8,157]

I think people need to realise too that we were never exactly going to make money going up the divisions from the bottom tier. I think for the best part we have to grin & bear it and hope we get back to the top division ASAP and earn money in Europe.

I was one of the few who opposed starting in SFL3 at the time for the simple reason I didn't think it was affordable.

Also I believe McCoist was absolutely correct to go with experienced players as we went up the divisions and that was going to cost us mainly in paying them high wages to get them to agree to drop down the divisions. That was always going to cost money.

 

Anyone would have known substantial losses were a certainty until we play in Europe again.

 

However, the failure to put together a workable plan to minimise these losses and/or at least in part run the club more efficiently in the interim means the credibility of those responsible for this wastefulness will forever be questioned. And rightly so.

[the gunslinger 3,366]

I think people need to realise too that we were never exactly going to make money going up the divisions from the bottom tier. I think for the best part we have to grin & bear it and hope we get back to the top division ASAP and earn money in Europe.

I was one of the few who opposed starting in SFL3 at the time for the simple reason I didn't think it was affordable.

Also I believe McCoist was absolutely correct to go with experienced players as we went up the divisions and that was going to cost us mainly in paying them high wages to get them to agree to drop down the divisions. That was always going to cost money.

 

Only a 7th of the money spent was on player wages. Even that was to high mind you.

[compo 6,165]

just tell the fans what the money was spent on who got what and what for a detailed report how many things were bought and at what cost wages to players and all the workers at ibrox and a copy of all bills paid

[Calgacus 8]

Isn't there a suggestion that a lot of the contracts for services, supplies etc are from Rangers point of view on a less than commercial basis?

[Frankie 8,157]

Isn't there a suggestion that a lot of the contracts for services, supplies etc are from Rangers point of view on a less than commercial basis?

 

So far there has been no detail on any of the contracts.

[Calgacus 8]

So far there has been no detail on any of the contracts.

 

Some of the comments in the review seemed to be suggesting this