corbyloyal
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Posts posted by corbyloyal
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if u have delivery note/reciept then its only tenner, because it was bought at JJB (ibrox megastore)
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happy 12th july to all
it also happens to be the corby highland gathering today, so its a double celebration of heritage for me
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i love how as soon as you try and tell others on here about something they automatically assume its all garbage. people just dont like to think that our great club can be so inept when it comes to business.
i recieved all of the information from a phone call at JJB (where I work) we were told by email that we wouldnt be getting the new kit on launch day or even the following couple of weeks. As a store which makes a hell of a lot of money on Rangers shirts, and as a Gers fan I was outraged by this so contacted the replica department who explained what I have just relayed back to you.
The four year sponsorship deal with Umbro began in 2005. This meant they provided our kits for 2005/06, 06/07, 07/08 and 08/09. http://www.thisismoney.co.uk/news/article....mp;in_page_id=2. I suggest people look at facts before merely brushing comments aside as speculation claiming we were still under Umbro's contract.
Having seen the new kit since posting originally I am more than happy that Umbro have finally produced a kit worthy of Glasgow Rangers FC, rather than the usual cheap shite, however I still stand by the statement that the shirt process this year was a farce and it is terrible that us fans have been left in the dark.
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i think there are 7 or 8 years left with JJB.
One of the main reasons JJB never has Rangers shirts is because of..... UMBRO!!
as a gers fan working there it annoys me so much that the septic shirts are always in stock but ours arent. it is because umbro seem to make a set number of shirts per season and once they are gone that is it, hence only a handful of last seasons shirts being available and most of those being XXXL or more!!
nike on the other hand keep stock levels of the mhanky mobs shirts high and therefore they are always on show
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So for months and months this debate has been carrying on about the new kit and yet silence from the club on the situation. speculation was rife on here until the club finally revealed the shirt would be released on 16th july (sort of) and will be revealed next week.
This week I finally learnt the truth behind the whole kit farce:
Rangers FC were in talks with Champion (ffs) to manufacture our kit for next season. Champion has recently moved into football kits such as Wales and Wigan last season. JJB also became their exclusive distributor at the start of 2008. Following a complete nosedive in sales however JJB have decided to drop Champion and therefore advised Rangers not to enter into the deal. This resulted in a last minute rushed 1-year-extension with Umbro being brokered recently. The late deal resulted in Umbro not being given enough time to manufacture and distribute the mass number of shirts required by a club of our size in time.
Rangers have therefore announced to JJB that the shirt will be released on July 16th in Rangers Megastores, however no other JJB store will recieve the shirts until the end of July/start of August. They have advised JJB to get supporters to mail order their shirts direct if they want them before August. What a disgrace for a club of our stature.
My main worries are:
1) The club didnt just explain the situation to the supporters instead of leaving us in the dark
2) We were nearly Champion!!
3) Due to the last minute deal we will just have one of Umbro's poor tacky templates
4) JJB nationwide will have grey and green hoops in stock but no Rangers shirts
5) The club will not have sufficient stock levels to meet demand from mail order customers
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its defo 16th july. its only available via ibrox store and via mail order
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umbro have been the problem in regards to shirts, not JJB.
over the past two seasons shirts have "sold out" by march. this has led to no shirts being available since then. i work in JJB and as a bear i constantly ring the replica department at head office to get more gers shirts sent, however umbro do not make enough and there is no stock available anywhere. since we ran out in Corby we have had at least one or two people per day looking to buy a rangers shirt however have been unable to. thats 2 people every day for 3 months. even at the reduced prices of £15 thats more than £1300 in lost revenue. thats just in one shop in england in one season. we have targets we should meet with shirt sales for further royalties however due to a lack of stock these havent been met.
on the other hand nike have showed why they are the best brand to be associated with as a football club. Septic shirts are kept at high stock levels throughout the season, with last season's shirts still being sold despite their new kits being released. They have only just reduced the prices on their 08/09 shirts but they have always been available. Likewise Nike had Manchester United's champions 08/09 t-shirts in JJB within 5 days of them winning the league, the Rangers ones still have not been released.
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would just be so funny to see timmys reaction if it was 12th
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im not 100% but the head of replica (who has neither celtic or rangers connections) said he read the release date was 12th july to 3 customers today. i think this would be odd, as it is a sunday
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this isn't even a joke, i heard today at work (jjb) that they are releasing the shirt on 12th july
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hope our away kit looks like blackburns
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yer we usually wear the new strip in scottish cup final. surprised it wasnt bigged up by the club beforehand though
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ive always pondered this too, was funny cos there was an entire pub in skeggy singing it who had nowt to do with the gers
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if recent then alan hutton for me
bit further then "der hammer" mr albertz
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how sweet it would be if they were to draw after being 2 up haha
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just reply with one saying support the irish economy...go home
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mine havent stopped since last weeks win over hamilton. from ipod on the bus and train, ringtone on my phone, cd in the car and PC blaring in the house
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Calling corbyloyal.
Might I suggest you save yourself some time and effort for your dissertation and write the following.
"JJB and Rangers FC - this was a bad deal." The End.
Hand it in then head for the pub.
i cant, thats what i have spent the past 2 years doing!
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is there any chance you could send me your full review to read mate? i would be interested in referencing some of this stuff.
Here is the review of the 2008 accounts http://forum.rangersmedia.co.uk/index.php?showtopic=82283
Here is the review of the 2007 accounts as requested. Feel free to PM if you have any questions.
The 2007 Rangers accounts
Here are a few thoughts from looking at the Rangers accounts which popped through the letterbox recently.
The loss
We made a loss of £6.25 million in the year, compared to a profit of £92,000 in the previous year, a year in which we reached the last 16 of the Champions League. As has been widely reported, the loss was due to the fact that we did not qualify for the CL. Although we reached the last 16 of the UEFA Cup it shows what difference in the two competitions and highlights the fact that the only way that Rangers can avoid making a loss is to reach the CL or to have another Boumsong type transfer coup.
Turnover
Turnover fell from £61.1m to £41.8m due to the afore-mentioned lack of CL football and the fact that our retail turnover has been replaced by the cash we receive from JJB. Over the last few years our retail turnover has averaged around £18m whereas it will now be the JJB £4.5m.
Don’t expect us to feature in any so-called Football “Rich” lists in the near future as they tend to be based on turnover, but it should be remembered that turnover is not the most important issue. Although our retail turnover has fallen, our profit from this area has risen as shown below.
The JJB deal
A quick recap of the JJB Sports agreement – we received £18m upfront at the end of last season. £3.5m was used to offset the closure costs of the shops and the remainder will be added to profit at £1.45m per year for the next 10 years. In addition we receive £3m guaranteed payment each year.
So was the JJB deal for us from a financial viewpoint? It certainly appears so. The accounts show the expected £4.5m income.
The 2006 accounts, if taken at face value, show around a £2m Retail profit after taking out part of the lump sum that was included to offset the closure costs. The last available profit on Retail was in 2004 when we made £3.7m on a turnover of £18.7m. Turnover for 2005 was £20.6m and although profit was not shown it is unlikely that profit exceeded £4.5m.
The £4.5m would therefore appear to be a favourable deal, particularly if you also take into account the savings in interest paid due to the lump sum received.
There were no additional royalty payments, so it can be assumed that we did not cross the threshold whereby they would kick in. It should also be noted though that closure costs were higher than originally expected and we were hit with a further £955,000, but these are a one-off cost.
The other benefit of this deal is that the amounts received are locked in and the risk of the expected fall in strip prices has been eliminated.
Although the deal appears to have been successful from a financial viewpoint, there are the obvious problems of a lack of brand presence both locally (eg Glasgow Airport) and throughout the UK, with many shops which may have stocked our strips in the past only featuring green and grey from the SPL.
There have been tales of poor customer service, lack of availability of stock and a poor selection of goods (“try HMV if you want a Rangers video”). The medium term impact of this is unknown and is impossible to put a value on, but has to be taken into account when reviewing the success or otherwise of the JJB deal.
Martin Bain
Martin Bain’s emoluments for the year were £357,000.
Although this is big drop from the previous year’s unbelievably high level of £527,000, it is still well above what a CEO of a £42 million turnover company would normally expect, particularly as he has limited impact on the company’s turnover.
Speculation is that Bain’s salary was so high last year due to a bonus received on completing the JJB deal, and that is why his salary has dropped this year.
It is also above Peter Lawwell’s pay of £291,000, which is even more galling given that Lawwell appears to have a much greater degree of autonomy than Bain, with Murray appearing to still make the major decisions. This is certainly one area where the cost-cutting exercise should be focusing on.
The debt position
The Net Debt rose from £5.9m to £16.5m. This is an area of concern.
The movement in debt was higher than the loss for the year due to the payment of the closure costs of the Retail division which went through last year’s P&L and the purchase of players.
However it should be noted that the purchase of Cuellar, McCulloch, Cousin and Whittaker for a reported combined fee in excess of £8m occurred after the year end and therefore have been excluded. As an aside, I don’t believe for a minute that Murray has financed these players out of his own pocket as was recently suggested in the press by a Murray-friendly journalist. There is absolutely nothing to suggest that this has happened, so don’t be fooled.
Murray is making a big gamble on us reaching the group stages of the Champions League (or the resale value of Cuellar?). If we are not successful against Red Star then we could be heading for another increase in the debt of £8-10 million.
If we are successful and do reach the group stages then I don’t see the net debt falling by much, if at all. Remember when we reached the last 16 of the CL in 2006, we only made a profit of £92,000. If we were to reach the same stage this year, it would appear that profits would be higher than this due to higher CL income and a fall in costs, but it is not going to make a significant impact in the debt which will continue to grow over the medium term unless there is another cash injection into the club.
If the worst happens and our debt does grow to around £25m I hear cries that a club our size can survive with that level of debt. Perhaps we can, but that is not the issue. We have very few avenues of reducing it and it will only continue to grow. We are not yet at the 2004 levels of £74m, but it should be remembered that our net debt position at 30th June is about as favourable as it gets as much of the season ticket cash is in and the major expenditure on players has not yet taken place. If we don’t qualify for the CL group stages, we could be looking at a net debt in excess of £40m around March of next year. This will take us to the limits of our current credit facilities provided by HBOS.
Murray has said that he will not put any further cash into the club. Is he again gambling on a short-term success with a hope that someone will then bail him out by buying the club? It certainly appears so, but with no buyers on the horizon and an ever-increasing debt, the financial prospects look bleak.
cheers bluedell thats a great help
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I wrote the following in my review of the 2007 accounts.
A quick recap of the JJB Sports agreement – we received £18m upfront at the end of last season. £3.5m was used to offset the closure costs of the shops and the remainder will be added to profit at £1.45m per year for the next 10 years. In addition we receive £3m guaranteed payment each year.
So was the JJB deal for us from a financial viewpoint? It certainly appears so. The accounts show the expected £4.5m income.
The 2006 accounts, if taken at face value, show around a £2m Retail profit after taking out part of the lump sum that was included to offset the closure costs. The last available profit on Retail was in 2004 when we made £3.7m on a turnover of £18.7m. Turnover for 2005 was £20.6m and although profit was not shown it is unlikely that profit exceeded £4.5m.
The £4.5m would therefore appear to be a favourable deal, particularly if you also take into account the savings in interest paid due to the lump sum received.
There were no additional royalty payments, so it can be assumed that we did not cross the threshold whereby they would kick in. It should also be noted though that closure costs were higher than originally expected and we were hit with a further £955,000, but these are a one-off cost.
The other benefit of this deal is that the amounts received are locked in and the risk of the expected fall in strip prices has been eliminated.
Although the deal appears to have been successful from a financial viewpoint, there are the obvious problems of a lack of brand presence both locally (eg Glasgow Airport) and throughout the UK, with many shops which may have stocked our strips in the past only featuring green and grey from the SPL.
There have been tales of poor customer service, lack of availability of stock and a poor selection of goods (“try HMV if you want a Rangers video”). The medium term impact of this is unknown and is impossible to put a value on, but has to be taken into account when reviewing the success or otherwise of the JJB deal.
is there any chance you could send me your full review to read mate? i would be interested in referencing some of this stuff.
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sorry mate your reply was not there until i had posted. i do actually agree, but its not just with regards to shirts etc JJB Sports stock system is terrible. i wasnt just talking about manchester, but also a point made earlier that they take months to re-stock shirts such as the third kit.
the difference with the rangers stores would have been that although the rangers store would have sold out, JJB and Sports Direct would both also have been free to sell the shirts too.
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where abouts in northampton is the gers club pal?
semilong working mens club just by the train station i believe, well it better be anyway, never been there b4 as i usually just watch the games down my local in mk
get yourself over to corby!
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i think it shows that jjb's stock is terrible. for manchester every shirt from the english stores was recalled to scotland, surely they must be able to make more when they are needed, its simple supply and demand. we would have sold 3 times as many shirts last season if they did their jobs properly. i agree with the glasgow airport store point too, i think it also worked well at attracting foreign tourists to buy our merchandise.
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where abouts in northampton is the gers club pal?
Gers Home Shirt in other JJB's on 1st August
in Jimmy Bell's Kitroom
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for those who didnt order online, or couldnt get to the ibrox megastore the new rangers home shirt will finally be distributed to the other JJB stores that stock it for release on 1st August.