californiadreamin52 339 Posted October 1, 2013 Share Posted October 1, 2013 Fail to see what all the cheering is about this level of expenditure is unsustainable and with little or no business plan looks like Mather will return to us looking for money Quote Link to post Share on other sites More sharing options...
five stars 1,621 Posted October 1, 2013 Share Posted October 1, 2013 Not good figures, but not as bad as many were predicting. We basically made a loss of £14 million over 13 months. What we need at the AGM is our financial projections for the coming year. We had around 5m of one-off costs last year which we will not have this year, so we could estimate a £8 million loss for the coming year but hopefully income will increase from merchardise sales and sponsorship that will bring this figure down. As others have stated the £7 million players wage bill was as expected but the £10 in other wages seems high and we need to see a breakdown of how this money was spent. Quote Link to post Share on other sites More sharing options...
loyalfollower 1,543 Posted October 1, 2013 Share Posted October 1, 2013 Said a couple of weeks ago the accounts may not be as bad as the doom mongers wanted them to be. Any new company that aquires a football club is bound to make a loss in the 1st few years unless they win the c.l twice on the trot. It still wont shut up the murray lovers. If these leaks to bbc stop then I'll back the board 100 percent. Quote Link to post Share on other sites More sharing options...
Carsons Dog 9,878 Posted October 1, 2013 Share Posted October 1, 2013 A lot of one of costs incurred in the last year, which obviously doesn't help the financial figures. If many of the accusations labeled at the board are found to be lies / false / made up by the likes of Giggles Graham and co, then we should ensure these gullible idiots are never seen within our stadium ever again.The Tweetwankers are still talking about voluntary liquidation by Dec/FebThey are desperate for this club to fall Quote Link to post Share on other sites More sharing options...
Shuggy 1,308 Posted October 1, 2013 Share Posted October 1, 2013 Being touted on Twitter that our staff costs are 93% of our turnover.Wage bill is £18 million, the same as under Whyte when we were in the SPL and challenging for the Champion's League.Green earned not far off £1 million, Ally just over £800kStockbridge's bonuses were bigger than his wage.From RST Twitter and their retweets.It is too high, it should be more like in the 60s percentage wise. Rangers pre-administration was more like 50ish. The player wage bill is at 43% but the other $10M was my biggest concern. Quote Link to post Share on other sites More sharing options...
crombie1873 142 Posted October 1, 2013 Share Posted October 1, 2013 There are a lot of one-off costs in th first year accounts to do with aquirung the club - these costs do not occur again so what you are looking for is the underlying performance - that is the turnover against costs without the uff. So the overall loss is £14m but on operations its a wee profit.Basically decent figures and in line with most expectations.Cheers for that, if that's the case then if I'm honest I'm pretty happy, also seen that the 11 million in the bank was in June so after this years season ticket money and sponsorships should be somewhere closer to 20 million now? woodvale1690 1 Quote Link to post Share on other sites More sharing options...
mitre_mouldmaster 21,509 Posted October 1, 2013 Share Posted October 1, 2013 Im not sure these are particularly good.What was the overall loss? £35m with an operating loss of £14m.Not read the detail yet, but hopefully the future revenue looks sustainable. Quote Link to post Share on other sites More sharing options...
Gaffbear 4,096 Posted October 1, 2013 Share Posted October 1, 2013 7.8 million pound first team wage bill for fourth tier of Scottish football.WOW.That's like 5k a week for 30 players in the squad..Give or take a pound and a player.Not bad for a club our size no matter what league we're in. Quote Link to post Share on other sites More sharing options...
five stars 1,621 Posted October 1, 2013 Share Posted October 1, 2013 Actually I didn't say we would. But glad to see you've accepted you were wrong. There is not a hope in hell of us breaking even this coming financial year. Zero. Quote Link to post Share on other sites More sharing options...
Shuggy 1,308 Posted October 1, 2013 Share Posted October 1, 2013 As others have stated the £7 million players wage bill was as expected but the £10 in other wages seems high and we need to see a breakdown of how this money was spent.I note the directors' emoluments are £1.6M which begs the question where the other £8.5M went on. Ally probably earned up to a million if he took his bonus. Durrant and othe coaching staff must have soaked up a couple of million between them? That leaves about £6M. Crazy for SFL3. Quote Link to post Share on other sites More sharing options...
crombie1873 142 Posted October 1, 2013 Share Posted October 1, 2013 Do people think these accounts are actually good then? £11mil in the bank in June, god knows what figure that is down to now.Over that surely after season ticket sales and puma deal? Quote Link to post Share on other sites More sharing options...
Redsox1 1,361 Posted October 1, 2013 Share Posted October 1, 2013 They are a horrible, nasty little gang of profiteers and shysters. They want Rangers to fail, they then come in and take over and make a fortune. They have lied about Rangers fans, Rangers employees and now, they will be seen for what they really are.I`d ban all the instigators from Ibrox. And they can`t come out with the "I was just looking out for the club I love" pish as they were just telling lies to de-stable the club. Some life time bans for furry / dingwall ( that that it would matter to him ) / leggo / mini. Then after that start getting into the vermin mhedia that have been mini`s useful tools. keech jackson / britney / english etc. more life time bans. They need us and we don`t need them. woodvale1690, sonofbear and thehost 3 Quote Link to post Share on other sites More sharing options...
Young Bob 1,360 Posted October 1, 2013 Share Posted October 1, 2013 The players and management wages are absolutely obscene. McCoist really should be doing the decent thing and taking a substantial wage cut. For him to be accepting over 800k is vile.Walter also got 50k - any reason why?For joining the board. Was reported at the time. Quote Link to post Share on other sites More sharing options...
cammyfraserrfc 5 Posted October 1, 2013 Share Posted October 1, 2013 If you put these figures in to context. We played in Div 3 last season, did we really need to pay that amount in wages to players? No we didnt and for me that is a major mistake in our business model going forward. We were being told that we would be stock piling cash as we go through the leagues. Well we are not and i would like to know how we are going to scale up to challenge for the Premier League when we get there if we have no cash reserves. Quote Link to post Share on other sites More sharing options...
DarcheVinny 1,003 Posted October 1, 2013 Share Posted October 1, 2013 Cheers for that, if that's the case then if I'm honest I'm pretty happy, also seen that the 11 million in the bank was in June so after this years season ticket money and sponsorships should be somewhere closer to 20 million now?That 11mil included 4.5mil of ST money for 13/14. Quote Link to post Share on other sites More sharing options...
big dave mcpherson 95 Posted October 1, 2013 Share Posted October 1, 2013 this is the only site i can get on as i was banned from ff years ago so i aint in their boat. Why everyone on here thinks its acceptable to see guys like stockbridge walkin away with 360 thousands pounds bonuses and the likes. Whats the bonus for and if they really are trying to run the club financially well then would they really be doing this. Its nothing more than theft of your and my cash! WadeWilson, Inigo and baxters11 3 Quote Link to post Share on other sites More sharing options...
alockh 14 Posted October 1, 2013 Share Posted October 1, 2013 That 11mil included 4.5mil of ST money for 13/14.So if we take the £22 million from December as a starting point, we'd spent £15.5 million by June, leaving £6.5 million before adding the season ticket money? I'm no accountant but is that right? I'm sure the one off expenses contributed to that Quote Link to post Share on other sites More sharing options...
Copland bear 7,966 Posted October 1, 2013 Share Posted October 1, 2013 Ally also got 4% of the company that runs the club in shares, McCoist has made a small fortune out of our misery. C'mon Ally take home £100,000 clear after deductions for the remainder of the season and next, once we are back you get your old contract back. That would be over £1m saved by the club and a great gesture from the man in charge. Quote Link to post Share on other sites More sharing options...
bluenosebrad 452 Posted October 1, 2013 Share Posted October 1, 2013 If you put these figures in to context. We played in Div 3 last season, did we really need to pay that amount in wages to players? No we didnt and for me that is a major mistake in our business model going forward. We were being told that we would be stock piling cash as we go through the leagues. Well we are not and i would like to know how we are going to scale up to challenge for the Premier League when we get there if we have no cash reserves. Sigh!!! What you forget is we have a squad that can romp this season and next season, the money will be greater as we go through the leagues, TV money will be higher we may actually get cup runs would could and would bring in more money and its possible that we will get a crack at Europe on our return. derekweir29 1 Quote Link to post Share on other sites More sharing options...
Popular Post TravelingWilBEARy 4,319 Posted October 1, 2013 Popular Post Share Posted October 1, 2013 People focusing on McCoist's wages really need to take a look at themselves. That's the least of our problems. *Manticore*, RFC55, jimfaebrigton and 3 others 6 Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted October 1, 2013 Share Posted October 1, 2013 I am no accountant, so what's this deferred tax of £7.8M and do Rangers pay VAT on ST sales if there is an operating loss?The deferred tax is basically the tax that we would have to pay if we sold the assets for the amounts we revalued them to, which we aren't going to do, so although deferred tax needs to be provided for it will never become a real tax bill. It's just a geeky accountants thing!Yes, VAT is paid on season ticket sales irrespective of whether we make a profit or loss. Quote Link to post Share on other sites More sharing options...
Blue corn flakes 1,282 Posted October 1, 2013 Share Posted October 1, 2013 We really shouldn't spend in january. No need to. gogzy, Essandoh, Redsox1 and 1 other 4 Quote Link to post Share on other sites More sharing options...
cammyfraserrfc 5 Posted October 1, 2013 Share Posted October 1, 2013 Sigh!!! What you forget is we have a squad that can romp this season and next season, the money will be greater as we go through the leagues, TV money will be higher we may actually get cup runs would could and would bring in more money and its possible that we will get a crack at Europe on our return.Its all possible, but in reality we will need another cash injection to be challenging for the league, because in all probability we wont have any cash reserves. Quote Link to post Share on other sites More sharing options...
Redsox1 1,361 Posted October 1, 2013 Share Posted October 1, 2013 We really shouldn't spend in january. No need to.There is no need to spend next season either. surfsup2 1 Quote Link to post Share on other sites More sharing options...
Moraybluenose 99 Posted October 1, 2013 Share Posted October 1, 2013 For me this puts me off the fence and behind the current board. When you take the one off costs and costs of things like getting rid of bocanegra etc, then couple that with coaching staff agreeing to wage cuts that have been widely publicised. I dont think we are in bad shape at all, in fact we are within the 5 year plan that we were told about.In terms of directors wages and non playing staff, the shareholders at the AGM has the ability to do something about this if the wish.Well done Redsox1, baxters11, sonofbear and 1 other 4 Quote Link to post Share on other sites More sharing options...
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