Letham gives Rangers extra time to repay £1million loan

[Frankie 8,148]

Spot on. The excessive salaries of the management team and the players falls to the suits too. They are the ones tasked with running things within budget.

 

There was little chance any new ownership would have downsized the staff and (perceived) quality of player in the 'journey'. To do so would have represented risk and certainly invited problems in terms of ticket sales; the bread and butter of the club's working capital. Much better to get back asap and deal with any losses after the fact.

 

The trick was to try and maintain fans interest via SPL-level 'quality' players and ensure promotion on promotion. That's fair enough but with a poor footballing operation in general, poor value for money and worsening fan relations; that trick was soon exposed as a con rather than something tangible to build the club's future on. Therefore, not only have 12,000 fans said enough is enough, so have investors.

 

The club is toxic. It remains to be seen if that can be changed within a suitable time-frame.

 

We can only watch on powerless.

[Zappa 0]

The club was always going to run at a loss until we returned to the SPL/European football.

 

I doubt Greenco, Blue Knights, Miller, McColl or Ng would have said or planned otherwise with their bids. It was simply a case of minimising the losses in the three years between 2012 and 2015 whilst ensuring the club could turn a profit (or at least break even) on it's Premiership return. This would be aided by two or three share issues in the period, gradually building confidence in the new ownership and business model year on year.

 

The problem we have now is that because the club has been so badly run and the relationship with supporters best described as estranged, that faith in loss becoming profit is non-existent. There is also no business model. Ergo we have no credit facilities, poor loan offers and next to no interest in the kind of large scale share issue that is undoubtedly needed next year.

 

Generally speaking we should have been able to cope with staff costs so concentrating on them is a red herring. Yes, they're too high, and yes some individual contracts are obscene but, no, they're not and should not be the main bone of contention. As always, it's just another example of a poorly run club.

 

Agree with most of that, but I do think the administrators should have taken a hard line approach to slashing the staff costs because they knew fine well that the business was loss-making and struggling big time as a going concern, so it was one of their primary tasks as administrators to cut the cost base. Instead of doing their job properly, they took a short term fix approach and eventually failed us on all counts including the going concern, bidding process & failed CVA.

[Frankie 8,148]

Agree with most of that, but I do think the administrators should have taken a hard line approach to slashing the staff costs because they knew fine well that the business was loss-making and struggling big time as a going concern, so it was one of their primary tasks as administrators to cut the cost base. Instead of doing their job properly, they took a short term fix approach and eventually failed us on all counts including the going concern, bidding process & failed CVA.

 

I agree overall staff/overhead costs should have been cut severely but playing staff was always more risky than the cleaner or tea lady because players sell tickets and win matches.

 

The club more than anything else needed ambition and innovation. Fans had bought into the 'journey' and investors as well. However, without genuine quality on the board all this income - more than enough to implement a genuine change in ethos - was wasted.

 

I'd contend that's why most fans are p!ssed off now - they're not angry at McCoist or Easdale or Ian Black - they're angry at a monumental opportunity lost. The Greenco ownership has failed us. Only time will tell if they accept their failings or dig a bigger hole...

[Rangersitis 0]

There was little chance any new ownership would have downsized the staff and (perceived) quality of player in the 'journey'. To do so would have represented risk and certainly invited problems in terms of ticket sales; the bread and butter of the club's working capital. Much better to get back asap and deal with any losses after the fact.

 

The trick was to try and maintain fans interest via SPL-level 'quality' players and ensure promotion on promotion. That's fair enough but with a poor footballing operation in general, poor value for money and worsening fan relations; that trick was soon exposed as a con rather than something tangible to build the club's future on. Therefore, not only have 12,000 fans said enough is enough, so have investors.

 

The club is toxic. It remains to be seen if that can be changed within a suitable time-frame.

 

We can only watch on powerless.

 

Well the ticket sales were at their highest at the beginning when the trimming should have been done. We would all prefer to see nobody losing their livelihood, but it was nothing more than a facade. Keeping the staffing levels as they were was all to do with getting the mugs to think "Everything must be ok if there are no redundancies". Meanwhile, backstage.....

 

My worry if there is another administration is that there will be a repeat of the previous stitch-up and the same mob will be back for seconds.

[Zappa 0]

Well the ticket sales were at their highest at the beginning when the trimming should have been done. We would all prefer to see nobody losing their livelihood, but it was nothing more than a facade. Keeping the staffing levels as they were was all to do with getting the mugs to think "Everything must be ok if there are no redundancies". Meanwhile, backstage.....

 

Exactly.

 

The administrators were only interested in making their money and completing the task they were hired for by Whyte which was to hand over the Club to Green & co.

 

When Green & co got control they were only interested in maintaining the 'everything's ok' facade and buying the fans with a few signings plus bucket loads of moonbeams and lies. All so that they could float their new holding company asap, get rich quick and exit stage left.

 

As Frankie rightly said, it's been a monumental opportunity lost, but that's because it was a monumental con from the outset by people who didn't give a toss about our Club, only in making money.

 

Had the administrators sold the Club to people who were more interested in the future of the Club than lining their own pockets, it would (or at least should) have been a completely different story.

[RANGERRAB 3,255]

Exactly.

 

The administrators were only interested in making their money and completing the task they were hired for by Whyte which was to hand over the Club to Green & co.

 

When Green & co got control they were only interested in maintaining the 'everything's ok' facade and buying the fans with a few signings plus bucket loads of moonbeams and lies. All so that they could float their new holding company asap, get rich quick and exit stage left.

 

As Frankie rightly said, it's been a monumental opportunity lost, but that's because it was a monumental con from the outset by people who didn't give a toss about our Club, only in making money.

 

Had the administrators sold the Club to people who were more interested in the future of the Club than lining their own pockets, it would (or at least should) have been a completely different story.

 

At the end of the administration there was only one viable bid on the table. Why didnt McColl Co bid earlier?

[the gunslinger 3,366]

At the end of the administration there was only one viable bid on the table. Why didnt McColl Co bid earlier?

 

That's nonsense even duff and duffer admit they knocked back other bids in favor of the green-whyte bid.

[RANGERRAB 3,255]

That's nonsense even duff and duffer admit they knocked back other bids in favor of the green-whyte bid.

 

which bids were these ? can you name them?

[the gunslinger 3,366]

which bids were these ? can you name them?

 

The blue knights Kennedy bid for one. It's all in d@p reports.

[BrahimHemdani 1]

That's not even including the hundreds of administrative staff at the club which I don't know whether you are including or not.

 

I think that's a bit of an exaggeration SC. For example, the Ticket Office are down to 10 or 11 from 30+ in 2012 and they are answering most of the email traffic. They were 1,000 behind a couple of weeks ago but have now caught up. It's them I feel sorry for; they've been working under intolerable pressure for the last couple of years at the same time as seeing the playing staff and certain directors continue to coin it in.