Richard Wilson: Rangers Are Running Out Of Money

[californiadreamin52 339]

http://www.heraldscotland.com/news/home-news/the-unravelling-of-rangers.21842437

"They have the season-ticket sales to bail them out for a few months, but they can't make Christmas without new cash ... and who will supply that? Fan investors.

[RWB-RANGER2 0]

34,000 season tickets, sounds like our fans already invested big. Still some major money mis management going on behind the scenes... It's worrying!!!!

[thehost 11,061]

for Richard Wilson see peter smith see young Christopher graham see mark dingwall see paul murray

they are one in the same

[Carsons Dog 9,878]

Bringing in new investors?

Is that not what CG was brought in to do?

And can people realistically still object to renaming the stadium if this is indeed the situation?

A few million from Mike Ashley or some protest banners from the UB?

Tough choice but banners don't pay bills

[THE_Ibrox_Preacher 2,812]

.

[AlBear. 8,499]

Until the accounts are released and facts out there in black and white this angle will be pushed and milked to death.

[Bluepeter9 5,167]

Oh good - another ill informed accountant wannabe who works with 2+2+3-1=0

[AlBear. 8,499]

Also, wasn't it reported over and over we wouldn't make it past last Christmas?

[cerberusandorthus 184]

I haven't thought much of Richard Wilson since One Foot in the Grave finished to be honest.

Only when I laugh

[scarkev 3,540]

34,000 season tickets, sounds like our fans already invested big. Still some major money mis management going on behind the scenes... It's worrying!!!!

Is it really do you and your kerrydale accountants have some facts do you or are you jumping on the hysteria bandwagon?

[Johnny Hubbard 280]

for Richard Wilson see peter smith see young Christopher graham see mark dingwall see paul murray

they are one in the same

don't agree at all. Richard Wilson has been the best of the lot in his reporting of Rangers.

The stand out in the article for me was this :

"King is one of several wealthy Rangers supporters approached in recent weeks by a London broker claiming to be able to sell 6.4m shares, with an asking price of 50p. King believes that a more true reflection of their worth, taking into account the club's financial position, is a net asset value closer to 25p.

He would like to lead a group of fan investors who will provide funds for the club in return for new shares being issued, which would dilute the stock held by the current shareholders but provide fresh capital"

who's selling ?...............would that be Green's.consortium ?.........and for 50p when I presume prospective buyers would be interested at 25p............maybe a deal can be struck for 30 to 35 p

[STEPPS BOY 73,890]

I don't believe it.

[scarkev 3,540]

I thought better of Richard Wilson as a journalist than this nonsense....Where are the facts to support this claim? Even accounting for a mismanagement of money how can 10million not get us to Christmas? It is hysteria creating nonsense that the weak minded and the tims will lap up and overeact to. Until the accounts are published nobody knows for sure what state our finance are in.....A bit of patience is required above all else.

[ARockit 118]

Have any of the journos who report this "financial woe" outlined what they think the 22 million or thereby has been spent on? There will be wages of players and staff, buying the Albion and Edmiston House, running costs at Murray Park & Ibrox, but not one of the reporters have tried to put a figure on any of it. Nor have they balanced it against the monies coming in - IPO, Season tickets, Puma, Sports Direct,, Blackthorn. Roll on the publication of the figures.

[stuvah 146]

I think I'll wait for the interim accounts to be released before I jump to any conclusions

[Thewhitesettler 2,711]

I thought that CG came back because he thought that we were spending too much money. I was also of the opinion that the £10m in the bank did not include ST sales, I could, of course be wrong, but I could also be correct...

[centenarystand 2,227]

Media scaremongering of the highest order dont fall for it.

[Turnberry18 3,204]

A football club is not a business, not in the conventional sense anyway: the profit margin is not its chief aim; its chief aim is the team on the park, and how to sustain the losses that come with that. So, are things being managed in a way that allows Rangers to sustain its losses? ie, are we building on an Academy that means we produce our own players, keeping transfer costs down and giving us the potential to sell players; do we have a sensible wage-structure that can be managed according to our income; and are we merchandising properly? Merely looking to investment to stop the losses is not the way forward.

[Carsons Dog 9,878]

I thought better of Richard Wilson as a journalist than this nonsense....Where are the facts to support this claim? Even accounting for a mismanagement of money how can 10million not get us to Christmas?

And the Puma money has still to come in remember

[RFC Eagle 4,888]

I think the headline could be more to do with the gHerald running out of readers.

[dan_ger 1,454]

"It seems that the 'original' shareholders [the consortium fronted by Green] will not make their shareholding available other than at a substantial profit.

"That goes against my desire to get new funding into the club rather than to reward investors who got shares on the cheap and want to exit after running up massive losses and creating another looming financial crisis.

This is one of the main concerns I have at the moment. There are those that want to inject money into the club and instead of allowing it to happen Green is demanding way over market value for existing shares.

It all comes down to seeing the accounts and finding out the reason behind the EGM. It won't be long before we find out how much of the original investment has disappeared.

[dan_ger 1,454]

"Based on the club's massive ­revenues compared to its opposition in the lower leagues, we should be repaying the fans' loyalty by building reserves for the re-emergence into the top flight when a significant cash injection will be required to compete with Celtic," King said. "The ­opposite is happening. Celtic are building reserves by selling top players that they won't need until Rangers are back competing with them. The way our finances are being run we could end up with a gap that is too large to bridge."

King making some very good points in this interview.

[Turnberry18 3,204]

King making some very good points in this interview.

I think that is too simplistic, the points he's making.

[RWB-RANGER2 0]

Is it really do you and your kerrydale accountants have some facts do you or are you jumping on the hysteria bandwagon?

[sassaaaa 11,406]

We have far to many directors/hanger-ons/consultants getting paid far to much for doing fuck all.

We have a management team also being paid far to much.

Bonuses should not be paid to anyone at all , they already receive a ridiculous amount of money.

First rule in business , you don't spend more than you take in , its not rocket science.

Once they have spent all the bank cash and had their fill , you won't see any of the suits anywhere near Ibrox again.