Rangersitis 0 Posted June 13, 2014 Share Posted June 13, 2014 FWIW I'm not happy but until there's a credible, viable alternative I do not believe there is much choice. All I want to see is Rangers back in the top division as champions as soon as possible and back into Europe again You really need to heed what Hildy was saying and be realistic about what can be achieved. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted June 13, 2014 Share Posted June 13, 2014 Nothing unrealistic at all about expecting us to dominate Scottish football again or competing in European competition. 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted June 13, 2014 Share Posted June 13, 2014 Rangers' beleaguered directors face the possibility that the club auditor, Deloitte, could sever its connection with the club over the next few weeks, following a collapse in the number of season tickets sold. The Daily Telegraph understands that the international corporate finance and accountancy specialists are unhappy about the latest figures emerging from Ibrox, which show that season ticket sales for Rangers’ Scottish Championship campaign are running at half the level of last year’s take-up for their SPFL League One schedule. In a statement on the Rangers website on Friday, the board confirmed that only 17,000 season tickets have been sold. On March 27, when Deloitte signed off the half year accounts up to the end of 2013 – which showed a £3.5 million loss – the auditors added that “key assumptions” made by the directors included a reckoning of future season ticket sales. Deloitte noted that this indicated “the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern”. Despite assurances at the annual general meeting in December from the chief executive, Graham Wallace, that the club could meet its costs until the end of the season, the board subsequently borrowed £1.5 million from shareholder George Letham on the assurance that the sum would be repaid when season ticket sales had yielded the equivalent amount. *However, there has been no notification to the Stock Exchange of any repayment. Instead, leaked reports from a spin doctor formerly employed by the club, confirmed that the board would attempt to raise £8 million through a rights issue later this year. In a statement on the club website on Friday, the Rangers directors said of the latest season ticket sales total – and the likelihood of a share issue – that “The Board believes that whilst this level of support reduces the potential requirement for short-term financing the Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. “The Board continues to evaluate its plans in this regard and will update the market in due course.” However, should Deloitte dissociate themselves from Rangers, investor confidence is likely to diminish. Deloitte last night would not comment on any speculation, citing client confidentiality. In response to the club statement, the supporters’ umbrella group, the Union of Fans, condemned the directors’ stewardship. The UoF statement read: “We note the announcement of the Rangers board regarding the season ticket renewal levels for the club this year. It is now obvious that a clear majority of fans have rejected Graham Wallace, Norman Crighton, David Somers, James and Sandy Easdale and their running of the club. “In any normal business, a board which had been rejected by over 50 per cent of its customers in the space of a few months would be removed. Whilst we do not expect this to happen due to the continued support of anonymous shareholders, who could not care less about Rangers, we would highlight that they have utterly failed to gain crucial trust from fans. “We do not believe this trust will ever be built without fundamental change at the club. The problem for this board is very simple. The vast majority of fans, even many of those who have renewed, simply do not trust them and likely never will. “The corporate governance at the club also continues to be a cause for grave concern. We would repeat that it is unacceptable for Jack Irvine of Mediahouse to have access to confidential, price sensitive board information through the Easdales and to then leak that information to the press as he did this week.” Barry Ferguson, the former Rangers and Scotland captain, has been appointed player-manager of Scottish League Two side Clyde, BBC Scotland reported on Friday night. http://www.telegraph.co.uk/sport/football/scottish-football/10899027/Deloitte-could-end-ties-with-Rangers-over-poor-season-ticket-sales.html 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted June 13, 2014 Share Posted June 13, 2014 Bullshit!,we have been told repeatedly everything is fine.....................! 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted June 13, 2014 Share Posted June 13, 2014 Nothing unrealistic at all about expecting us to dominate Scottish football again or competing in European competition. Why? Have you looked at the co-efficient lately? Scotland are now languishing in twenty fourth position, from a high of ninth, and the club one will be nigh on zero. That will result in entering from the unseeded side of the draw if preliminary round victory is achieved against the might of Malta, Wales or Iceland. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted June 13, 2014 Share Posted June 13, 2014 Which is still competing in European competition. The day we expect or accept Rangers struggling in European prelim qualifiers is the day we should all chuck it. Sent from my iPhone using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted June 13, 2014 Share Posted June 13, 2014 Bullshit!,we have been told repeatedly everything is fine.....................! No one to blame but ourselves. Fans starving their own club of much needed revenue. Mental! Sent from my iPhone using Tapatalk 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,231 Posted June 13, 2014 Share Posted June 13, 2014 Bullshit!,we have been told repeatedly everything is fine.....................! Find me a quote from Deloitte in there. All ifs, maybes, conjecture, and doom-mongering. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,231 Posted June 13, 2014 Share Posted June 13, 2014 How does any of that affect what is to be done in the here and now? A bit strange this. On one side people talk about the "board" as if it was the same entity ever since Green, whereas the current board essentially is only working since December in earnest - Wallace, Nash et al. (And until otherwise proven, I take the puppetmaster as an urban legend.) Here though the EBT case which essentially sent us into the hands of Whyte, Green and Co.via Lloyds has nothing to do with our previous state? Well, well. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,409 Posted June 13, 2014 Share Posted June 13, 2014 If everything was fine then you would expect Delloite to just say so?. 0 Quote Link to post Share on other sites More sharing options...
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