der Berliner 3,246 Posted December 7, 2018 Share Posted December 7, 2018 Half-facts and half-truths, a few missing points and the inference that borrowings are actually debt ... you see whom this article caters for. Quote Rangers FC's borrowing tops Scottish football list at more than £22mA SHOCKING new report has revealed that Rangers borrowed more than £22m in their latest year's accounts, more than double Celtic's total. The Ibrox club's total of £22.5m is more than the remainder of Scottish football's professional clubs combined. Announced as part of report shared on social media by football business lecturer Keiran Maguire, the Gers's borrowings were taken from their most recent accounts. British football clubs owe about £3,517,300,000 to banks and owners. Manchester United top the table with £496 million. Chelsea & Everton at the bottom as owners fund clubs via shares rather than loans. Figures from most recent accounts. pic.twitter.com/Yb5koRa0ej — PriceOfFootball (@KieranMaguire) December 6, 2018 In comparison, Celtic borrowed £10.8m, the second highest total in Scotland. In October it was revealed that Rangers' pre-tax losses had more than doubled for a second consecutive year to £14.3million. An auditor expressed "concern" over the figures but chairman Dave King insisted there are no questions being asked about the club's financial strength. The report was put together by the University of Liverpool lecturer to display the amounts borrowed by British clubs, totalling £3.5bn. Other Scottish clubs registered - Hibernian, Motherwell, Dundee United and Dundee - owe around £9m between them. Three other clubs in Scotland also borrowed, however the totals of Aberdeen, St Johnstone and Ross County were all less than £1m while Partick Thistle and Kilmarnock did not record any borrowings. https://www.eveningtimes.co.uk/news/17282034.rangers-fcs-borrowing-tops-scottish-football-list-at-more-than-22m/ No word that much of the "borrowings" are interest free and soon to be turned into shares, at least to a sizeable amount. No word that Celtic had income from Europe (for years) that dwarfes anything other clubs gained ... yet still "borrowed" money. Wonder why that was the case, the journo seemingly didn't want to know. No word on who the auditor was who said we're a going concern, nor the lecturer who put this together, But hey, perhaps the Editor of the ET didn't give the journo enough room give us more facts and thus kept the report down to the "really important" stuff?! 1 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted December 7, 2018 Share Posted December 7, 2018 10 minutes ago, der Berliner said: Half-facts and half-truths, a few missing points and the inference that borrowings are actually debt ... you see whom this article caters for. https://www.eveningtimes.co.uk/news/17282034.rangers-fcs-borrowing-tops-scottish-football-list-at-more-than-22m/ No word that much of the "borrowings" are interest free and soon to be turned into shares, at least to a sizeable amount. No word that Celtic had income from Europe (for years) that dwarfes anything other clubs gained ... yet still "borrowed" money. Wonder why that was the case, the journo seemingly didn't want to know. No word on who the auditor was who said we're a going concern, nor the lecturer who put this together, But hey, perhaps the Editor of the ET didn't give the journo enough room give us more facts and thus kept the report down to the "really important" stuff?! You just have to see the guy's name to know what it is about. Another Phil 3names. Maybe it is him and he is now Phil 4names 0 Quote Link to post Share on other sites More sharing options...
compo 6,134 Posted December 7, 2018 Share Posted December 7, 2018 You have to speculate to accumulate. 0 Quote Link to post Share on other sites More sharing options...
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