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Review of the Rangers accounts 2020


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Thanks Bluedell, a very helpful summary. We really are incredibly fortunate to have the directors we currently have, I'm not sure supporters fully appreciate what they're doing just now. 

As you say we'll need to start selling good players quite soon, if not January certainly in May. Our wages to turnover ratio feels high at slightly over 73%, but then I guess that's why we made a loss. Celtic's is sitting at around 80% I understand so these things are all relative. 

Anyway, thanks BD and thanks Mr King, Park and Bennett. 

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Superb analysis BD, many thanks for doing so.

 

Didnt know King was due money back, and disgusted he is charging 8% interest, he can no longer say he doesnt take a penny out when he gets £400kpa. Clearly this needs to be qualified by saying the directors and shareholders are due our eternal gratitude for the job done and the very real and vast sums of money they have converted into shares.

 

We really must sell one or two players either in January or early in the window (ie before 30 June) and if we can also win the title and qualify for CL group stages we will be fine as long as we keep staff costs under control.

 

 

Edited by Tannochsidebear
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8 minutes ago, Tannochsidebear said:

Superb analysis BD, many thanks for doing so.

 

Didnt know King was due money back, and disgusted he is charging 8% interest, he can no longer say he doesnt take a penny out when he gets £400kpa. Clearly this needs to be qualified by saying the directors and shareholders are due our eternal gratitude for the job done and the very real and vast sums of money they have converted into shares.

 

We really must sell one or two players either in January or early in the window (ie before 30 June) and if we can also win the title and qualify for CL group stages we will be fine as long as we keep staff costs under control.

 

 

As BD says, we don't know the background behind this - there may be reasons he has to charge interest - I don't know enough about the South African Revenue Service (SARS) but there is a possibility that he has to charge interest for tax reasons.

 

I would hope we don't sell anyone in January given the importance of the season - but should we win the league this year - in fact probably even if not, then we will sell Morelos for sure - can se do that pre-June 30th given the window usually only opens on July 1st ?  Or has that changed ?

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When the subject of selling to balance the books its always Morelos but I think come January we might  have a job to hold on to our captain as someone who watches lots of the EPL  I would say he's as good as any full back at present  .

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From a business perspective these accounts reflect more than just a mechanical compilation of numbers. Unless you view them together with the strategic business plan, much of which will necessarily remain confidential, it is impossible to judge to what extent they are a measure of success or failure. Since the annual accounts don't tell you about either our strategic objectives or the plan and timeframe to achieve them, except in heavily sanitised terms, I suggest caution when drawing conclusions from any purely accounting perspective.

 

Accountants can usefully be compared to F1 mechanics. You need one to get your car ready but it's unlikely you'd ever put one in the driving seat. 

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