pete 2,499 Posted February 19, 2018 Share Posted February 19, 2018 Rangers directors enjoy salary hike despite club posting rising losses Martin Williams @Martin1Williams Senior News Reporter Rangers directors enjoy salary hike despite club posting rising losses The overall pay packages of the Rangers’ two executive directors has risen by more than £60,000 in total on the year before, while the club made a net loss of £6.7 million last season. The 16 per cent rise comes while losses for the year ending June 30, 2017 were double that of the previous campaign. Managing director Stewart Robertson was the biggest beneficiary. His earnings came to a total of £281,000 in the last year, which includes a £64,000 bonus and means his pay package increased by £52,000. The earnings of the former Motherwell secretary and director, include a £215,000 basic salary and £2,000 benefits in kind, making him the highest earning director of the football board. Finance director Andrew Dickson secured a total pay package of £174,000 for the year. This was made up of a £131,000 basic salary with a £28,000 bonus and £13,000 in pension contributions with £2,000 benefits in kind. Overall his pay package rose £16,000. There had been widespread criticism over the salaries paid to directors and staff under previous ownership regimes at Rangers. When South Africa-based businessman Dave King swept to power to take over at the club two years ago it was stated that no remuneration would be paid to directors of Rangers International Football Club plc, the holding company and investment vehicle. Both Mr Robertson and Mr Dickson are the only paid directors of the Rangers International Football Club subsidiary, the club’s operating company, The Rangers Football Club Ltd, which is responsible for the club’s day-to-day business. Mr Robertson was placed in control of day-to-day running of the club off the pitch three years ago, and just 24 hours after Mark Warburton was installed as firstteam manager. Last year there was criticism when it was revealed that former chief executive Graham Wallace who resigned in October, 2014 after 11 months in the position, earned £225,000 in his final four months at the helm in the year to June, 2015. Mr Wallace was understood to have been earning £315,000 a year with a 100 percent bonus but before he left, it was thought that he had had a scaled down cash payment of £100,000 ratified by the then board's remuneration committee. He was brought in as the chief executive, in November 2013, by the then plc chairman David Somers to lead the restructuring of the club. But he was criticised by the fans for failing to reveal the true state of the club’s fragile finances. http://www.eveningtimes.co.uk/news/16032171.Rangers_directors_enjoy_salary_hike_despite_club_posting_rising_losses/ 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted February 19, 2018 Share Posted February 19, 2018 I don't see the problem here. Paying off leeches like Ashley and sorting out the mess left by dumplings like Warburton and Pedro were always going to affect our finances. I could see there being something worth looking into if it was King or the other shareholders who were draining cash from the club. We have improved as a football side and I'm confident the club as a whole will also do similar. 0 Quote Link to post Share on other sites More sharing options...
compo 6,222 Posted February 19, 2018 Share Posted February 19, 2018 If you want good people you have to pay good wages , pay peanuts you get monkeys . 0 Quote Link to post Share on other sites More sharing options...
Gonzo79 13,764 Posted February 19, 2018 Share Posted February 19, 2018 Given what we've been through, it's good to have some transparency on these matters. 0 Quote Link to post Share on other sites More sharing options...
MacK1950 2,250 Posted February 19, 2018 Share Posted February 19, 2018 Agree with foregoing comments the article stinks of mhedia mud raking again. 3 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,304 Posted February 19, 2018 Share Posted February 19, 2018 I don't think these salaries are too unreasonable. At least they're not Martin Bain type salary & remuneration 1 Quote Link to post Share on other sites More sharing options...
ian1964 10,457 Posted February 19, 2018 Share Posted February 19, 2018 I am very comfortable with this board with regards to doing the best for the club they can, I have no idea who should be paid what? but I am not worried anymore about money being stolen from the club! however it is important to remain vigilant after what we have been through, the difference is this board are Rangers fans with best interest of the club at heart and are proving it with the way we are progressing. 3 Quote Link to post Share on other sites More sharing options...
Bill 13,717 Posted February 19, 2018 Share Posted February 19, 2018 While the article is certainly muckraking, it might have been prudent to reserve pay rises and bonuses for the day when Rangers turns a profit or wins a trophy. 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted February 19, 2018 Share Posted February 19, 2018 5 minutes ago, Bill said: While the article is certainly muckraking, it might have been prudent to reserve pay rises and bonuses for the day when Rangers turns a profit or wins a trophy. Could be a long wait for the CEO & CFO 0 Quote Link to post Share on other sites More sharing options...
Popular Post Bluedell 5,356 Posted February 19, 2018 Popular Post Share Posted February 19, 2018 This information was available from the accounts last year. You have to wonder why they are just bringing it up now. 5 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.