RIFC Annual Results

[BEARGER 1,829]

9 hours ago, Bluedell said:

Do we really need a Celtic fan's view on here?  I'm sure we could go into the Celtic forums if we want to read how we're not going to make it to the end of the season but there's no need for it here. 

I assume it’s my post you’re talking about? I’ve never heard of the guy, just saw the article online. 

[JohnMc 2,485]

49 minutes ago, Gaffer said:

I've read the accounts and there's nothing in there that worries me at all.  The debt is converted to equity so there's little to no debt funding required.  Even if King decided to pack up and leave, all we need to do is cover that loss with the sale of a player and we are break even.  Obviously, if King went we would need to either to continue to fund the gap with the sale of players or cut our cloth accordingly.  However the main difference now is that we would continue to survive.

 

I must admit that I am quite happy that the focus is on our board and our accounts because we need to maintain a healthy level of scrutiny.  What that lot across the city will find (if they bother to scrutinise their own accounts rather than ours) is if they fail to qualify for the group stages in Europe, they will see their bank balance wiped out very quickly.  Their spending is all balanced against an expectation of doing well in Europe.  To be fair, this was a sensible model while they were given a crack at the Champions League each year (without any domestic challenge), but one season of failure can quickly result in their house of cards collapsing.  That would be a shame!

My biggest concern Gaffer is there has in fact been very little focus on the board and accounts. This thread had around 4 replies until yesterday. We live in strange times, without making any political points there is a genuine chance that this country could look very different this time next year. Between Brexit and serious calls for another independence vote there is instability and uncertainty as well as financial volatility. Not the time you want to be depending on the largesse of individuals who, I assume, have their money tied up in investments, property and so on. 

Selling a player isn't without consequence. If we lose Morelos, undoubtedly our most sellable player, he needs replaced and that will cost money. Also, these figures remind all the buying clubs that we need the money, never the best place to be in negotiations. Morelos aside who is going to raise serious cash? Jack should walk into most English Championship sides and if he can maintain his form Barasic could prove valuable, Goldson, Katic, Helander, Tav and Kamara I suspect would too. But in reality are any of them going to leave for in excess of £10 million? I'm not convinced. Our squad players aren't going to raise much, no one is spending a lot to take Grezda, Murphy, Flanagan, Polster, McCrorie, Docherty, Foderingham or Halliday from us. 

 

I found the results a lot more troubling than you. Perhaps that's because of our recent history, perhaps I'm just naturally more pessimistic and cautious. 

[Frankie 8,182]

1 hour ago, 26th of foot said:

Really, ra Sellik View from Mike Meehall Wood?

 

A twitter account lionising Phil McFournames, screaming in capitals, 'FCUK THE H-U-NS'. proclaiming TAL, mocking the deceased Sandy Jardine, hinting at FARE membership, and a disgraceful comment reference the Manchester bombing.

 

Well, he has had his piece published in Forbes and it is now on our screens. That will be enough objectivity for BBC Scotland to reward him with a senior position.

It's Phil's 'rugger guy' breaking cover.  Phil won't be happy.

[Gaffer 1,665]

1 hour ago, JohnMc said:

My biggest concern Gaffer is there has in fact been very little focus on the board and accounts. This thread had around 4 replies until yesterday. We live in strange times, without making any political points there is a genuine chance that this country could look very different this time next year. Between Brexit and serious calls for another independence vote there is instability and uncertainty as well as financial volatility. Not the time you want to be depending on the largesse of individuals who, I assume, have their money tied up in investments, property and so on. 

Selling a player isn't without consequence. If we lose Morelos, undoubtedly our most sellable player, he needs replaced and that will cost money. Also, these figures remind all the buying clubs that we need the money, never the best place to be in negotiations. Morelos aside who is going to raise serious cash? Jack should walk into most English Championship sides and if he can maintain his form Barasic could prove valuable, Goldson, Katic, Helander, Tav and Kamara I suspect would too. But in reality are any of them going to leave for in excess of £10 million? I'm not convinced. Our squad players aren't going to raise much, no one is spending a lot to take Grezda, Murphy, Flanagan, Polster, McCrorie, Docherty, Foderingham or Halliday from us. 

 

I found the results a lot more troubling than you. Perhaps that's because of our recent history, perhaps I'm just naturally more pessimistic and cautious. 

I read the accounts, but I didn't post anything because I didn't see anything particularly surprising or worrying about them.  Others may be the same.

 

I have an issue with your point about selling a player.  Of course selling a player will have a big impact on the team, which is why I hope King will be around for long enough to help us build a conveyor belt of talent to allow the club to fund itself.  However we can't have it both ways.  Either we don't want the club to require funding from King and in which case take much longer to return to winning ways, or we are happy with it for a period of time.  How can anyone be surprised in the slightest with these results, given the outlay we've had on players and upgrades?

 

I think it's all very well being concerned that the club suffers losses, but what would anyone here propose we do differently?  How can we build our revenue streams quickly without incurring significant losses?  I've never known any medium sized business (such as our club) being able to do that.  I'd be more concerned if these losses were debts but they're not.  These losses have been converted to equity at each opportunity.

 

Like everyone here, I'll continue to scrutinise the board's actions and the relevant accounts (and court judgements) because I don't want to leave that to other commentators again, but I will represent the information fairly.  There can be nothing in here that is a surprise to anyone surely?

[stewarty 1,877]

I think in part the reason for the lack of focus is that they were released late on a Friday and it was the build up to a significant game in our domestic season.   Now that we have enjoyed the aftermath of a fine victory, we are naturally looking back over the accounts.

 

That said, I think there is a degree of apathy/jadedness (if thats a word) about matters financial, and I think its partly a chunk of the support wanting to go back to just supporting the team and not having to worry about these matters overly.  

 

Looking forward to reading @Bluedell 's analysis

 

[Bluedell 5,354]

I'm feeling under pressure. ?

 

I'll have something up before the end of today. 

[Stevie - 4lads Blog 922]

19 minutes ago, Bluedell said:

I'm feeling under pressure. ?

 

I'll have something up before the end of today. 

Andy done a very good thread on Twitter (ahcumfaegovan)  about it which verified some points I made on the blog

 

The only people excited by this are the hysterical mob  

 

 

[Bluedell 5,354]

27 minutes ago, Stevie - 4lads Blog said:

Andy done a very good thread on Twitter (ahcumfaegovan)  about it which verified some points I made on the blog

 

The only people excited by this are the hysterical mob  

 

 

Yeah, thanks, saw it earlier and listened to his pod on it.

[JohnMc 2,485]

57 minutes ago, Gaffer said:

I read the accounts, but I didn't post anything because I didn't see anything particularly surprising or worrying about them.  Others may be the same.

 

I have an issue with your point about selling a player.  Of course selling a player will have a big impact on the team, which is why I hope King will be around for long enough to help us build a conveyor belt of talent to allow the club to fund itself.  However we can't have it both ways.  Either we don't want the club to require funding from King and in which case take much longer to return to winning ways, or we are happy with it for a period of time.  How can anyone be surprised in the slightest with these results, given the outlay we've had on players and upgrades?

 

I think it's all very well being concerned that the club suffers losses, but what would anyone here propose we do differently?  How can we build our revenue streams quickly without incurring significant losses?  I've never known any medium sized business (such as our club) being able to do that.  I'd be more concerned if these losses were debts but they're not.  These losses have been converted to equity at each opportunity.

 

Like everyone here, I'll continue to scrutinise the board's actions and the relevant accounts (and court judgements) because I don't want to leave that to other commentators again, but I will represent the information fairly.  There can be nothing in here that is a surprise to anyone surely?

I expected a loss but I expected a much reduced one. So I was surprised at the size of the loss and the need for more investment on top of it, I don't mind admitting. 

You make a very valid point about the need to grow and to do that there's a requirement for investment and I accept that, as far as we know, all the investors are happy to see that investment turned into shares. We're very lucky. 

As I said earlier in the thread I'd be interested in knowing what the mid-term plan is, how will the current Directors exit. I'm not panicking, but I'm a little nervous. 

[compo 6,215]

Whatever way you look at it back to front upside down it's still 11 million of a loss and this is  not good