DK open letter to Board

[JohnMc 2,473]

And the owner of the Phoenix Suns would want to own Rangers why? Rangers going back to the 'sugar-daddy' model is a retrograde step. I know of no supporters who think the majority of our players 'play for the shirt', they're professionals in a professional era. The thought of an American 'sports entrepreneur' buying Rangers is utterly depressing. We're not a franchise.

[Bluedell 5,342]

1 hour ago, Hume said:

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.

Was the bid not made during that awful season in the Championship when we didn't get promoted? I think it was during the period before King and the 3 bears too over, when the Easdales and Llambias were on the board :shudder:

 

The bid was reported as being for £20m, which undervalued the club.

 

1 hour ago, Hume said:

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. 

It did? Did Rangers pay dividends to its shareholders in the past?

 

[Scott7 5,179]

1 hour ago, Bluedell said:

It did? Did Rangers pay dividends to its shareholders in the past?

Yes. I can’t remember the rate or yield but at one time in the fifties the share price was £12.00. Don’t recall the denomination. £1.0.0 Ordinary?

[buster. 4,808]

The economics of Football have changed hugely over the past several decades in line with what is happening in the wider economic environment.

 

Neo-liberal economics or we can call it extreme capitalism introduced little by little with the result of successfully boiled frogs.

 

The basic result is a disproportionate amount of money,  power and influence flow to the top. 

eg. The elite clubs are now disproportionately able to accumulate and hoover up elite/potentially elite footballers. 

They force UEFA to make up rules and regulations around their competitions that see the cash distribution heavily skewed in their favour. 

Compare the old European Cup and today's CL.

 

So, with regard to Rangers.

We are currently on a path that will gradually see the environment in which we ply our trade (Scotland), become relatively poorer and unless we move, we will go the same way.

 

Re. The speculation about X or Y interested in investing/buying Rangers. Some of our support equate the reported wealth of X or Y with what they will do for the club. Perhaps they see it as a financial bridge to a diet of interesting transfer rumours, better squad, lots of trophies, etc. 

 

X was once Sir Duped 

Y could be Mike Ashley

 

Rangers were basically on offer in 2012 and no-one could come up with the money to trump the 5.5M offered by CG&Co, locked in to the CVA process.

 

Now, a large book could be written about the surrounding circumstances to my previous paragraph but the take away for me is that when it comes down to it. There doesn't exist people who would be able to provide the game changing finance and not be concerned about a real return.

 

The people who have invested heavily, some of whom are currently on the board, are as good and safe as it will ever get.

 

Mistakes will be made.

To transition into a self sustainable club will have many painful moments.

 

The past is gone.

 

Edited September 12, 2022 by buster.

[Bluedell 5,342]

5 hours ago, Scott7 said:

Yes. I can’t remember the rate or yield but at one time in the fifties the share price was £12.00. Don’t recall the denomination. £1.0.0 Ordinary?

Interesting. I had never heard of dividends being paid.

 

I do remember that the price of the shares was £12.50 in 1986 when I first owned shares. The price was then reduced by 90% when there was a 10 for 1 scrip issue around 1991.

[stewarty 1,876]

As well as we being on UEFA's "watch list" for sailing very close to the wind in terms of FFP (or whatever they're calling it now), its prudent for the Board to be wary of inflation and its unknown impact on our short term cost base.  Other financial unknowns (at least to us) are the particulars of the settlement with Ashley,  the capital needed for New Edmiston House, any new/significant maintenance costs for Ibrox and Auchenhowie, new contracts for senior players, amortisation of previous transfers as well as previous losses which we have racked up... and thats before you get to the shitshow that is the SPFL's TV deal renegotiations which continue to hold us back financially and will do so over an even longer period if they gerrymander it through.

 

Despite all of that, I was disappointed we didn't manage to make at least one more signing before the deadline.  My gut feel was there should have been scope for it, but I guess we will need to see what the accounts say to get a clearer picture.  We seem to continually shoot ourselves in the foot from a communication point of view though.  The Board should know we are hyper sensitive on financial matters and read the room by providing more timely information rather than waiting till the pitchforks are drawn.

 

[craig 5,199]

On 12/09/2022 at 04:36, Hume said:

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?  

Scottish clubs will never be able to do this.  The revenues don't support such a wage structure and there is the little thing known as Financial Fair Play.  The revenue distribution of football is skewed towards the 5 big leagues - until and unless that changes there will be no "increase in the salary cap" as there can't be.

[JohnMc 2,473]

The owner of the Phoenix Suns looks like just the kind of guy we'd want owning the club... https://www.bbc.co.uk/sport/basketball/62899194 

The Phoenix Suns owner Robert Sarver has been suspended for a year and fined $10m after an NBA investigation into claims of racism and misogyny.

The NBA found Sarver "engaged in conduct that clearly violated common workplace standards".

It found evidence of "racially insensitive language, unequal treatment of female employees and sex-related statements and conduct".

[Sutton_blows_goats 4,221]

1 hour ago, JohnMc said:

The owner of the Phoenix Suns looks like just the kind of guy we'd want owning the club... https://www.bbc.co.uk/sport/basketball/62899194 

The Phoenix Suns owner Robert Sarver has been suspended for a year and fined $10m after an NBA investigation into claims of racism and misogyny.

The NBA found Sarver "engaged in conduct that clearly violated common workplace standards".

It found evidence of "racially insensitive language, unequal treatment of female employees and sex-related statements and conduct".

We don't want any Americans anywhere near our club in any way. Arsenal, Man U are two examples of clubs who have regressed since American owners took over. Liverpool have got more competitive but i think that's more due to Klopp being an exceptional manager rather than the running of the club. Early signs at Chelsea I don't know what to make of. A proven football operations team all gone while an American investment manager takes direct control. Football manager gone after a short period of time. 

 

Americans see sport completely different from us. There is a thing called 'tanking' in US sports. Its when franchises cut all thier good players so they purposefully under perform in order to get the top picks at draft time. There is perhaps not a direct equivalent in football but its possible to get rid of high earners and try out some kids and loans for a few years and accept below par results to decrease operating costs (Leicester City right now). Anyone who can contemplate such an approach should be nowhere near Ibrox. It is 100% business first results second.

[ranger_syntax 3,775]

On 13/09/2022 at 12:54, craig said:

Scottish clubs will never be able to do this.  The revenues don't support such a wage structure and there is the little thing known as Financial Fair Play.  The revenue distribution of football is skewed towards the 5 big leagues - until and unless that changes there will be no "increase in the salary cap" as there can't be.

All stitched up.

 

Guess we can all just tune in to the big leagues.