DK open letter to Board

[CammyF 6,781]

5 minutes ago, buster. said:

A substantial chunk of money was reinvested. The issue is that it isn't giving much short term value.

 

A player trading model is supposed to create a surplus, not break even.

 

What Gio says on finances in a post match interview shouldn't be taken too seriously IMO.

 

Perhaps he should have been told not to broach the subject in any detail because it'll nearly always pose more questions than provide answers that you can be sure about.

 

On financial details, we'll have to wait for the accounts (including notes post year end).

 

Is circa £7M a substantial chunk of the sale of Aribo, Patterson and Bassey and the compensation we got for SG and his management team? What was the intake? If its as low as £14M then it's only half......

[buster. 4,808]

11 minutes ago, CammyF said:

Is circa £7M a substantial chunk of the sale of Aribo, Patterson and Bassey and the compensation we got for SG and his management team? What was the intake? If its as low as £14M then it's only half......

You have to look at the financials holistically.

 

The journey created a long tab.

[CammyF 6,781]

41 minutes ago, buster. said:

You have to look at the financials holistically.

 

The journey created a long tab.

I know, but both Wilson and Goo both stated that the cash from players sales would be reinvested into the playing squad. 

 

Then GVB says its not and we don't have money in the bank, saying he's happy with squad and contradiction of earlier statements.

 

Again, it's down to communication and setting expectations and trusting us with the truth. 

[Gonzo79 13,614]

I think it's fairly obvious that Van Bronckhorst just says the first thing that comes into his head and it often isn't the truth.  

[buster. 4,808]

Just now, CammyF said:

I know, but both Wilson and Goo both stated that the cash from players sales would be reinvested into the playing squad. 

 

Then GVB says its not and we don't have money in the bank, saying he's happy with squad and contradiction of earlier statements.

 

Again, it's down to communication and setting expectations and trusting us with the truth. 

Generally and over time, the noises coming from the club,  directly and indirectly have been painting a rosy picture of our finances. Highlighting the positives ignoring the negative. Many don't bother reading the accounts.

 

Some might have considered it positive PR, others will see false expectations that have been created.

 

 

[Bill 13,717]

9 minutes ago, buster. said:

Some might have considered it positive PR, others will see false expectations that have been created.

And some will always just see what they want to see. 

[weebluedevil 1,172]

6 hours ago, Bill said:

If only that was a tap you could turn on and off.

 

The truth is that valuation when selling a company is usually based on multiples of EBITDA and, while football clubs cannot follow the usual basis of assessment, cash and debt will always be important factors. So if you're selling you want to be negotiating from as healthy a financial platform as possible. To be clear, I'm talking about valuation here .... any decision to buy Rangers will be made on financial and many other criteria. You might even speculate that a poorly performing company is a better buying prospect since it offers the best opportunity for growth and value improvement. 

 

The more I think about events of the last year, the more I could be convinced that some prominent shareholders are actively looking for an exit. My own experience is that this can take years or could be completed in months. Pure speculation of course, I could be miles wide of the truth, just adding up signs.

I actually think you could be onto something. 

[JohnMc 2,473]

23 hours ago, CammyF said:

If La La Land is in West Lothian then maybe that's true. 

 

He has several points ;

 

- Board communication with fans is horrendous. 

 

- Serveral areas of the club have been neglected for too long ; ticketing, catering, disabled access, pricing, MyGers, customer service etc.

 

- we were told that money fr9m players sales would be reinvested in the squad. This hasn't happened. 

 

- Gio said on Tuesday that there was "no money in bank", yet UEFA deposited £14M into out bank the previous Friday. And that's not taking into consideration of the money from players sales, EL run and record season ticket sales. 

 

The board staying silent doesn't help it hinders.

 

 

 

 

I didn't read Dave King asking about Mygers, disabled access, pricing or any of the other things you mentioned in your point. Did he raise them? 

 

As others have said we have reinvested in the squad. You might be unhappy with who we've reinvested in, and that's fair enough, but it's not accurate to say it hasn't happened. Aside from the 7 new first team squad signings and 11 development squad signings, that from what I can see cost in excess of £10 million in transfer fees, we also gave new contracts to Goldson, Tav, McGregor and Davis, each of who will have received a decent signing on fee on top of agent fees. I hope we've still got something left over after selling Bassey, Aribo and Itten and we're able to strengthen again in January. We didn't know if we were going into the Champion's League until a couple of weeks ago. I suspect we did have signing target(s) if we qualified and for whatever reason they didn't pan out. I don't know if I expect the club's directors or manager to announce publicly we tried to sign someone and he chose to stay where he is. 

All that aside I'm not sure what other communication you expect from the board and on what subjects? Dave King can pick up the phone to the board anytime he wants, he's a major shareholder he gets to ask questions if he wants. He's stirring trouble in my opinion, I'm grateful for all he's done in the past but I think he's at it currently. 

 

Edited September 10, 2022 by JohnMc

[ChelseaBoy 2,232]

20 hours ago, CammyF said:

I know, but both Wilson and Goo both stated that the cash from players sales would be reinvested into the playing squad. 

 

Then GVB says its not and we don't have money in the bank, saying he's happy with squad and contradiction of earlier statements.

 

Again, it's down to communication and setting expectations and trusting us with the truth. 

Exactly, he's trying not to rock the boat, but it is obvious all the funds have not filtered down to the squad. 

Edited September 10, 2022 by ChelseaBoy
typo

[Hume 1]

In the financial aspects of this great club, Park and co are only really caretakers. They are not cash-rich enough to make a go of this however, their ego fits the bill. They will hang on till the Rangers receive a bid and will be reluctant to make said bid public. The club had such a bid previously when they first came up to the premier division. It was from the owner of the Phoenix Suns basketball team. The owner has personal finances of £800 million; why he was discarded has never been explained. You do not need hundreds of millions to compete. However, in today's modern era you need to increase the salary cap. E.G. When Tierney left Celtic he was on 20k per week now he is on 150k + bonuses. This is where football has gone, playing for the shirt is a thing of the past, as most of the monies taken 100+ years ago went into the shareholder's pockets, not the player's. So unless a suitable buyer is found status quo will remain. Who knows how long?