[Let's Buy Rangers]

Can someone explain this to me though?

When the Fans by a club, They JUST scrape enough money to buy it

where does money for the running of the club, players wages and Transfer money come from?

I think that this is a good question. There would need to be funding to allow the club to run. At the moment we have a credit facility which acts as an overdraft. This is secured by Murray. Something would need to be put in place to allow the club to operate. We wouldn't want the security over the stadium or Murray Park.

Raising the cash to buy the club is the easy part. Financing the running of it is more difficult, in my opinion.

[Let's Buy Rangers]

Back onto SDM! when David Burnside wanted to try a Takeover Bid in 2007 the Club wasn't up for sale!

Burnside not put off Rangers bid

David Burnside (left) wants to buy Sir David Murray's stake in the club

Northern Ireland Assembly member David Burnside will embark on a potential Rangers takeover plan after his latest election campaign is over.

But the Ulster Unionist Party politician says his group will only move if Rangers chairman Sir David Murray puts the club up for sale.

I just wish that SDM would stop sitting on the fence and just come out and say YES the club is up for sale!

The club IS for sale, mate.

I don't believe Burnside ever had any intention of looking at the club. His press statements were laughable, and he obviously only did it as an election stunt.

Frankie says that there have been 3 potential buyers. I'm a bit more sceptical than that. There may have been enquiries (and I'm not even sure about that) but I doubt any were close to being potential buyers.

Murray let it be known that the club was for sale 12-18 months ago. He leaks it which is the way he generally does things, but nobody has a quote to pin him on. However coming out publicly would make the club less stable, and put uncertainty both in the minds of current players and players who may be looking at moving to the club. There is no way he should come oout and publicly say it. the people who would be interested in buying the club all know that Murray wants rid of it.

[Review of Rangers' Half-Year Accounts]

Thanks for clarifying everything Bluedell...

I hadn't realised you'd posted it here or else I would have been on earlier.

Just as well as I now know what Manticore really thinks of me.

[Review of Rangers' Half-Year Accounts]

Looking at the Half yearly Report the only thing that stands out is, "Walter said there was money to spend in Jan" And unless SDM was Writing Blank cheques it looks like there wasn't Money to spend!

As i said Hutton had to be sold to make up for CL

Murray effectively wrote blank cheques last summer, and the CL qualification and Hutton has got him out of jail.

[Review of Rangers' Half-Year Accounts]

What I think we can all agree on is they are a sight better than they have been for the last few years - and much better than when we were sitting with £70M of debt - and that was a real threat (ask leeds fans) - so improvement all round (and about time)

No doubt about it - although it was £83million of debt IIRC....

What interests me (and we won't know until the full accounts are released) is if the SDM £15million revolving credit facility has (or has not) be used and to what extent.

It will be getting used at the moment but the Hutton deal will have reduced its need as will the season ticket cash when it comes in. It will difficult to tell hiow much oof it will have been used at its maximum.

[Review of Rangers' Half-Year Accounts]

I don't want to have a go at you Bluedell but your post is very sepculative and lots of it is based on assumptions. For example, the club may have made losses in the 6 months to 31 June in prior years but that has little bearing on the performance of the club in the 6 months to 31 June 2008. If the club continue to be a success on the park then our results for the 6 months to 31 June 2008 could be very good. Nobody has access to that kind of information so we can't possible comment and if you do have access to that kind of information you shouldn't comment.

I don't think that you can state that "extended run in the UEFA Cup may be negated by the increased costs" without stating what the increased costs are. Do you mean the increased costs of being in the UEFA Cup or the increased costs that you have assumed that the club will incurr in the period to 31 June 2008? I am in no position to comment but I would think that an extended run in the UEFA Cup will be financially beneficial for the club overall.

I do agree that being in the CL every year is an absolute must for the club and SDM has said as much. I don't know if we also have to become a selling club to make a profit but it will be difficult for the club to reject big offers for players that will result in a large profit for the club.

The club like any business will need to find a balance between its income and its expenditure and the better the club performs on the pitch the better or income will be which in turn will let the club spend more money on the team.

Yes, it's based on assumptions but informed ones. I don't have access to the information. My analysis is purely using publicly available information. Trends can be seen and there is no reason to tink that the 6 moths to 30/6/08 will be that different to previous years, excluding the transfers obviously.

The increased costs are the costs in the P&L account which have gone up by over £6m on the prior year. These are the costs of wages and the write off of players' values. A UEFA cup run is certainly beneficial but I don't think that it will bring in an excess of £6m.

[Review of Rangers' Half-Year Accounts]

Frankie - I think you have the majority of this factually correct but some of the underlying assumptions I would quiblle with and so here my tuppence worth:

1. The easy one - Rangers do publish there Balance Sheet - for all to see, but it is on an annual basis and is available from the PLUS Market site. (Its a big attachment and I am not sure if I can post it to the board - someone may be able to help). Also any shareholder - (ie RST members - which I think you are) are entitled to a copy of the balance sheet (and P&L) anyway.

2. Our turnover is depressed (lower) than previous years due to the fact we only take profit / fee for kit and not the headline revenue from the JJB kit deal.

3. The loss has increased (as you say higher wages mainly) but that shows the clubs commitment to ensure CL football - which all fans want and which is a financial need from a business perspective - so I dont think the club can be critisised for this.

4. Its a SAD but TRUE fact that Celtic are in a stronger financial position that us - McCann got rid of the main debt and build the bigger stadium and this aligned with our poor performances in getting to CL means that they have been creating good profit and able to financially out muscle us (Brown, McDonald). We also have had very few saleable assets (players) during that time but we now seem to have quite a few. Totally agree that Rangers MUST look at increasing the stadium capacity in order to at least maintain financial parity with Celtic and I believe that this increased capacity is an essential move.

5. In many ways SDM runs Rangers like a not-for profit organisation - i.e. he is NOT out to generate a financial return and profit is reinvested in players or facilities - this also depresses or Profit figure and it is unlikely that we will report large profits due to this. The exception to this will be the accounts at the end of the year because of Hutton and CL (and possibly Cousin) as the money will NOT be spent as the financial year ends before the transfer market opens. I like the way SDM does this.

6. I think its a FACT that CL football and beinga SELLING club are the a reality of how SDM has to run the club. Enough of the turnover has to go into making sure we get a CL position year in, year out and the income generated from player sales helps this. It is also a fact our good players, no matter their alliegence to Rangers are going to be tempted by the EPL just becuase of the financial might the TV deals give them - if financial might was based on supporters we would be right up there, but in a small country we have little in the way of TV money outwith the CL. Sad but true.

7. On the positive side I believe SDM id extremely astute financially and (IMHO) seems to have taken a bigger interest again now WS is back and I believe he will look at numerous schemes to increase revenue, through the 'Rangers Village', Stadium Capacity and perhaps even (again) others investing. Time will tell.

I know Frankie has already replied on this and I'll probably repeat what he said but here are my replies:

1. Rangers don't publish the balance sheet for the half year. They also don't publish any notes and very limited commentary.

2. Our turnover is higher than the previous year because of CL income.

3. So the club couldn't be criticised for the £74m debt?

5. He knows that he can't make a profit and certainly doesn't take any dividend, unlike many of the shareholders of a certain other club. However he doesn't run the club as a non-profit organisation, although i think I get what you are meaning.

6. Agreed.

7. Murray is a good business man, but he was also the guy who led our club into debt of £74m after reassuring shareholders that he wouldn't. I am not as confident as you that he can come up with revenue increasing ideas. i find it difficult to believe that others will invest with him still on board given the way that Enic got their fingers burned and Dave King's investment has gone south.

[Review of Rangers' Half-Year Accounts]

Dell sits a few rows in front of me in the Bill Struth Stand.

He's a cunt...

First time I come onto this site and I find this.

Next time you're on the sub crawl... :2g: