No Debts etc - Is it something to shout about ?

[Ace 3,556]

The Rangers chief executive views China as a sleeping giant in terms of football and hopes to open training academies there while also recruiting Chinese players for Ally McCoist's squad.

Rangers, under previous owner Craig Whyte, made an unsuccessful attempt to exploit the Indian market last year, bringing players Jeje Lalpekhlua and Sunil Chhetri over on trial, travelling to India to meet officials from the Indian Premier League, and launching a Twitter feed in Hindi.

Green, though, is not put off by that failure, believing opportunities abound in Chinese football. "A few weeks ago I had a very rich Chinese man here," said Green. "He said, 'Charles, we are a country of 1.3 billion people but we can't find 11 footballers among them. How can that be?'"

Green also boasted of the strength of Rangers' financial position. The club shed all its debt when the oldco went into liquidation.

"Today we are the strongest club in Scotland," he added in an interview with Der Spiegel magazine. "We have the biggest fanbase, no debts, no loans, no overdraft and money in the bank.

"Rangers are among the 15 most famous clubs in the world. We have the product, the names and the brand."

This statement irks me !!

While it is great that, as a club, we have no debts etc but is it really something we should be gloating about, considering how that situation came about i.e. Admin

Yes, I understand the debt lies with the previous company but to those who suffered under our Administration i.e. suppliers (local & national), they look at us playing in the same stadium etc and benefiting from Admin while they had to suffer the losses, some of which, I'm sure, could ill afford.

I am not advocating we repay all our debts from under Admin, even though we are settling our football debts (while the OldCo receives all the monies outsanding to us), that is the way of the world in business.

It's a great situation to be in but to "crow" about it .... it just doesn't sit right with me.

[JograBear 1,072]

We are in a good situation now with no debts. I for one am glad he is proud of that!

[4MenHadADream 122]

I agree. Whilst it is a nice sitation to be in, we shouldn't forget why that was possible, personally the boasts of exemplary financial health make me a little uncomfortable, so close on the heels of our administration.

[Bothwellbear 1,392]

This statement irks me !!

While it is great that, as a club, we have no debts etc but is it really something we should be gloating about, considering how that situation came about i.e. Admin

Yes, I understand the debt lies with the previous company but to those who suffered under our Administration i.e. suppliers (local & national), they look at us playing in the same stadium etc and benefiting from Admin while they had to suffer the losses, some of which, I'm sure, could ill afford.

I am not advocating we repay all our debts from under Admin, even though we are settling our football debts (while the OldCo receives all the monies outsanding to us), that is the way of the world in business.

It's a great situation to be in but to "crow" about it .... it just doesn't sit right with me.

I would agree with you on this one. The reason we are debt free is not one that i think as a club we should be shouting about. It is just going to irk more and more people and possibly shoot ourselves in the foot.

Green has been pretty spot on with his speeches, but with regards to the debt, i cant agree with crowing about it.

[TMB 14,167]

In answer to your question - YEEEEESSSSS!!!!

[Getstiffed 8,863]

We didn't invent the system.

[Prince of Orange 84]

Maybe talking about it in interviews and things isn't for everyone but it's just one of the things that come with a public limited company. It happens every day of the year and those who went bust or closed shop then open accounts with the same companies (usually because they are restricted by the trade they are in) and start again.

[BonjourBonjour 1,244]

A homeless junkie has no debt...doesnt make it a positive thing.

[gogzy 31,195]

Fuck it and everyone. We are debt free. I give zero fucks how we got there. We are there

[better than all the rest 153]

Are we debit free though, I don't have a list of figures to hand but he paid £5M then he covered all the costs until we could sell ST and there would have been more costs don't know about. Because I thought the price they paid for the club was a loan and was due to be paid back in 5 years. Until there are figures published running costs wages etc

[RFC55 108,727]

A homeless junkie has no debt...doesnt make it a positive thing.

That homeless junkie probably only ended up like that following your shite tips

[The Mongoose 1,007]

I think it IS something to shout about!

I think Charles Green is doing a great job at keeping us at the forefront of publicity.

Perhaps if the old regime had shouted the truth about the debt we were in, a lot of pain and anguish could have been avoided!

[RFC55 108,727]

Are we debit free though, I don't have a list of figures to hand but he paid £5M then he covered all the costs until we could sell ST and there would have been more costs don't know about. Because I thought the price they paid for the club was a loan and was due to be paid back in 5 years. Until there are figures published running costs wages etc

Direct debit?

[ray 105]

This statement irks me !!

While it is great that, as a club, we have no debts etc but is it really something we should be gloating about, considering how that situation came about i.e. Admin

Yes, I understand the debt lies with the previous company but to those who suffered under our Administration i.e. suppliers (local & national), they look at us playing in the same stadium etc and benefiting from Admin while they had to suffer the losses, some of which, I'm sure, could ill afford.

I am not advocating we repay all our debts from under Admin, even though we are settling our football debts (while the OldCo receives all the monies outsanding to us), that is the way of the world in business.

It's a great situation to be in but to "crow" about it .... it just doesn't sit right with me.

The situation didn't arise because of Charlie, the situation has been resolved so far because of Charlie and he has every right to shout it from the roof tops, as well as being a GIRFUY to the sphell.

[bombaybadboy08 15,660]

The club didn't screw people over,Whyte did but he certainly isn't representative to the views/ethics of Rangers FC.

The same person also put us into administration when there's every chance all these creditors would have been paid eventually.

Whyte and Murray screwed us over as well,look at the division we are now in as proof so I see nothing wrong with the club coming out with statements like this.

[jcb 1,167]

This statement irks me !!

While it is great that, as a club, we have no debts etc but is it really something we should be gloating about, considering how that situation came about i.e. Admin

Yes, I understand the debt lies with the previous company but to those who suffered under our Administration i.e. suppliers (local & national), they look at us playing in the same stadium etc and benefiting from Admin while they had to suffer the losses, some of which, I'm sure, could ill afford.

I am not advocating we repay all our debts from under Admin, even though we are settling our football debts (while the OldCo receives all the monies outsanding to us), that is the way of the world in business.

It's a great situation to be in but to "crow" about it .... it just doesn't sit right with me.

Agree with this.

The most shameful 12 months in our long and proud history, results in many suppliers who have had long-term relationships with the club left out of pocket through no fault of their own.

A bit like running up large credit card debt, then declaring yourself bankrupt and boasting to everyone how your debt-free.Nothing honourable about this imo.

[Big Al 55 9,241]

Yes... we have paid the ultimate price.

Although from a creditor perspective I get where you are coming from, but that's the business laws in this country.

[Ace 3,556]

I think that if the club had slowly reduced the debt to Zero through prudent financial management then it would certainly be something to shout about (similar in the way the Scum board shout about reducing their bank debt) but to gloat about it, knowing that to get here the club did not pay it's creditors and left many of them thousands of pounds out of pocket ... morally, it's not right.

Of course, this was a situation not created by CG and he is performing admirably in the PR stakes but this is one where, I believe, he should tone the rhetoric down and be more humble towards those who suffered and, most likey, are still suffering, albeit at the hands of others.

[MaddistonKnight 1,567]

I may be wrong and will be happy to be corrected, but when that bastard Whyte took over were we not at that point technically free of debt, in as much as we had no specific debts coming due (I am aware of the EBT)?

We are where we are, what we should be concerned about is ensuring we never find ourselves in the same place where we were 6 months ago.

[Rfc#1. 1,877]

Yeah it's something to shout about,we're debt free GIRFUY.

[Bluepeter9 5,167]

This statement irks me !!

While it is great that, as a club, we have no debts etc but is it really something we should be gloating about, considering how that situation came about i.e. Admin

Yes, I understand the debt lies with the previous company but to those who suffered under our Administration i.e. suppliers (local & national), they look at us playing in the same stadium etc and benefiting from Admin while they had to suffer the losses, some of which, I'm sure, could ill afford.

I am not advocating we repay all our debts from under Admin, even though we are settling our football debts (while the OldCo receives all the monies outsanding to us), that is the way of the world in business.

It's a great situation to be in but to "crow" about it .... it just doesn't sit right with me.

I dont read it as crowing, rather I read it as a statement of fact said by a salesperson in promoting our club as it is NOW!

"We have the biggest fanbase, no debts, no loans, no overdraft and money in the bank."

We also have paid a high price to get to that position (Loss of squad, SFL3 football, No Europe for 3 years) but those are the negatives of the situation and Charles has decided to promote the positive of the situation. By fuck we would be screaming if he promoted the negative!

[californiadreamin52 339]

might be an age thing but as a proud club we should have always been able to pay our just and lawfull dues it`s a stain on our charactor and nothing to shout about

[Big V 271]

This statement irks me !!

While it is great that, as a club, we have no debts etc but is it really something we should be gloating about, considering how that situation came about i.e. Admin

Yes, I understand the debt lies with the previous company but to those who suffered under our Administration i.e. suppliers (local & national), they look at us playing in the same stadium etc and benefiting from Admin while they had to suffer the losses, some of which, I'm sure, could ill afford.

I am not advocating we repay all our debts from under Admin, even though we are settling our football debts (while the OldCo receives all the monies outsanding to us), that is the way of the world in business.

It's a great situation to be in but to "crow" about it .... it just doesn't sit right with me.

The way I look at it is we have paid a very heavy price to get to the stage we are at now, so if the one silver lining is that we have now got our finances in order, I see no reason not to use that information to our advantage. Chinese culture values pecuniary discipline and Charles will be using this information for best strategic advantage in that market. These are not empty boasts on his part.

I get what you are saying, some companies have lost out when we went bankrupt, but I put it to you that no one lost out more than we did. If anyone were to think that it was crass or vulgar for us to flaunt our new-found balanced books, I would point out that we paid for this "status" with a three year Europe ban, a 12 month transfer embargo, relegation to the 4th tier of Scottish football, the loss of almost our entire team of players, and six highly stressful and deeply upsetting months.

It's not like we've closed the doors on a Friday and opened up on Monday with a different name and it's all business as usual. There is no shame for us here, we have paid, and paid, and paid again.

Being debt free is a great situation to be in, but would you, or anyone else choose to be in this position, given what we have lost to get here?

[77amurai 258]

It doesn't sit right to a certain extent but after the amount of shite we, as fans, have had to go through over the course of the last 9 months any positive story coming out of the club is something to be savoured.

So I will.

[Rfc#1. 1,877]

A homeless junkie has no debt...doesnt make it a positive thing.

Junkies always have debts even homeless ones. Bad analogy.