Letham gives Rangers extra time to repay £1million loan

[BrahimHemdani 1]

More crowded than ibrox certainly.

 

So if they start to show movies on the big screens would that solve all our problems?

[the gunslinger 3,366]

The already are in the car park. Though that will soon be Mr Letham.

[BrahimHemdani 1]

The already are in the car park. Though that will soon be Mr Letham.

 

Anything good on this weekend, cos there's no football?

[the gunslinger 3,366]

Anything good on this weekend, cos there's no football?

 

Lots. Check my review thread.

[Super Cooper 0]

So where did the other £15m to £16m p/a disappear to?

 

What £15m? Where are we here Zappa and what time period?

[Zappa 0]

What £15m? Where are we here Zappa and what time period?

 

I thought it was a little higher, but basically the Club's staff costs detailed in the last full accounts were almost £18m, so in response to you saying that the manager and the 8 players you listed cost us £4m a year, I'm asking where the remainder of the staff costs are disappearing to. If we spent £18m on staff costs, then which staff received the other £14m?

[Super Cooper 0]

I thought it was a little higher, but basically the Club's staff costs detailed in the last full accounts were almost £18m, so in response to you saying that the manager and the 8 players you listed cost us £4m a year, I'm asking where the remainder of the staff costs are disappearing to. If we spent £18m on staff costs, then which staff received the other £14m?

 

Ah right, that will break down pretty straightforward.

 

Over 30 first team footballers and a whole entourage of back room staff too from Durrant and McDowall to Sinclair and Kirkwood and everyone in between. We have loads of staff. That's not even including the hundreds of administrative staff at the club which I don't know whether you are including or not.

[Zappa 0]

Ah right, that will break down pretty straightforward.

 

Over 30 first team footballers and a whole entourage of back room staff too from Durrant and McDowall to Sinclair and Kirkwood and everyone in between. We have loads of staff. That's not even including the hundreds of administrative staff at the club which I don't know whether you are including or not.

 

My point was simply that it's been the costs throughout the whole club which have been too high while we're in the lower leagues. Almost £18m in staff costs for a period where we only generated a fraction over £19m total income and still had over £13m in general operating/running costs to fork out plus all of the one-off or 'exceptional' costs on top.

 

It's easy to point the finger at the manager and his highest paid players and say they've been costing us too much money, but when the Club has £34m in basic operating expenses for a period where it only generates £19m in income, then clearly there's much bigger problems in the way the business has been getting run than just Ally, McDowall, Durrant & their highest earning players.

Edited September 3, 2014 by Zappa

[Rangersitis 0]

My point was simply that it's been the costs throughout the whole club which have been too high while we're in the lower leagues. Almost £18m in staff costs for a period where we only generated a fraction over £19m total income and still had over £13m in general operating/running costs to fork out plus all of the one-off or 'exceptional' costs on top.

 

It's easy to point the finger at the manager and his highest paid players and say they've been costing us too much money, but when the Club has £34m in basic operating expenses for a period where it only generates £19m in income, then clearly there's much bigger problems in the way the business has been getting run than just Ally, McDowall, Durrant & their highest earning players.

 

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.

[Frankie 8,148]

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.