fleck21 0 Posted August 21, 2009 Share Posted August 21, 2009 There have been a lot of stories, a lot of speculation and even worse - downright scare-mongering going on this summer when it comes to Rangers and it's finances. First off, let me state that I know full well we are not exactly in the optimum of financial health, I know that we are at the peak of our borrowing facility and I know that we are still having major issues with cash-flow at the moment. It still doesn't quite justify entirely the stealth cost-cutting and debt reduction exercises being carried out at Ibrox this summer to be honest. We have the same debt as Hearts yet they continue to recruit players, Kilmarnock have around £15m worth of debt but operate with a turnover which is just a fraction of ours. Hamilton were even declared insolvent during a recent court case with former assistant manager John McCormack recently. Which begs the question: What is the motivation behind cost-cutting? Is it to reduce the debt? Definitely. Are there other reasons? Again, definitely....In my opinion at least. David Murray wants out of Ibrox and has done for a number of years now. There have been strong rumours that businessman Douglas Park has been interested in taking over from Murray, and Northern Ireland MP David Burnside has been credited with interest as well. But it is rumoured that when the due-dillgence procedure has taken place at the club - which is has a few times supposedly - The debt levels and income streams simply don't justify the level of expenditure each party would require to make. So a Rangers side with a minimal wage-bill, serviceable even without Champions League football, and zero or reduced debt would surely be much more appealing. I genuinely think there is a strong possibility that the club will change hands within the next 12 months. David Murray's tenure has been very mixed - The last decade in particular has been dominated by a catalogue of off-field disasters - which has subsequently lead to a few of the on-field variety as well. Gambles that never paid off - Not spending cash when we should have - Spending cash when we shouldn't have....I could go on. It's pretty clear to me that whatever side of the fence you're on, fresh-thinking, new ideas and a new approach are required in the board-room at Ibrox. As our current chairman has struggled badly in an era when the club can't afford to spend it's way out of trouble. interseting article here is the link http://www.rangers.vitalfootball.co.uk/article.asp?a=515705 Link to post Share on other sites More sharing options...
bluenose48 951 Posted August 21, 2009 Share Posted August 21, 2009 Yeah good post, Regardless of our financial position with rumours of SDM selling and WS retiring at the end of the season or earlier as some would suggest, Rangers need someone or a group with the neccessary money to clear the debt and have enough money to buy the players we need to compete in Europe. It is still conjecture but if the OF are to go into the EPL or whatever they will call it we will need money to be successful. We will struggle to challenge at any decent level in Europe until we can attract quality players and that again means money. Link to post Share on other sites More sharing options...
wertp72 0 Posted August 21, 2009 Share Posted August 21, 2009 Who exactly is Douglas Park? Link to post Share on other sites More sharing options...
SuperRangers 2 Posted August 21, 2009 Share Posted August 21, 2009 Who exactly is Douglas Park? Very wealthy businessman whos owns Parks of Hamilton coaches and is on the board at Rangers along with his son if im correct. Link to post Share on other sites More sharing options...
KERRZO 5 Posted August 21, 2009 Share Posted August 21, 2009 I think Murray will be gone within the year personally. Link to post Share on other sites More sharing options...
Orangeclement 570 Posted August 21, 2009 Share Posted August 21, 2009 only been telling us that for the last 3 years Link to post Share on other sites More sharing options...
Bluedell 14 Posted August 21, 2009 Share Posted August 21, 2009 Who exactly is Douglas Park? Very wealthy businessman whos owns Parks of Hamilton coaches and is on the board at Rangers along with his son if im correct. Douglas Park and his son are not on the board at Rangers. Link to post Share on other sites More sharing options...
grahamteuchter 1 Posted August 21, 2009 Share Posted August 21, 2009 A lot of the rumours have just been people talking baws and endulging in an overactive imagination. A lot of disinformation coming our way. SDM will sell Rangers if the right buyer comes along. Someone that has a sound business plan and will not make us into another Hearts.. Link to post Share on other sites More sharing options...
Kaiser52 0 Posted August 21, 2009 Share Posted August 21, 2009 Park is worth roughyl about £50 million! so he wld need more investors with him! Link to post Share on other sites More sharing options...
blueben_d 40 Posted August 21, 2009 Share Posted August 21, 2009 Murray has been saying for years that he is willing to sell... but only to someone he sees as being in the best interests of Rangers. With his ego will anyone be better in his mind than himself? Link to post Share on other sites More sharing options...
Kaiser52 0 Posted August 21, 2009 Share Posted August 21, 2009 Murray, 55, has added £100m to his fortune in the past year, ranking him 95th equal in Britain and fifth in Scotland. Chances are that he paid a pretty penny for the pear-shaped, pink diamond engagement ring for his girlfriend Kae Tinto, a 34-year-old lawyer. His first wife, Louise, died of cancer in 1992. The entrepreneur has known his share of hard times. Murray lost his legs in a car accident in 1976 and says: “You could say it concentrated my mind on business.” In 1997, he set up the Murray Foundation, which provides support for amputees and their families. Murray, who was knighted last year, started work in an Edinburgh metal alloy company, earning £7 a week. His steel business, Murray International, was originally based on metals trading. He now has a portfolio of mining, property and venture-capital businesses. Murray International should show profits of about £50m in 2006-07 while his Premier Property Group is investing in London and Europe to the tune of £200m last year. Then there is his football club, Rangers. It has been overshadowed by Glasgow rival Celtic and failed to qualify for the Champions League last season, which left it with a £700,000 loss in the first half of 2006-07 against a £6.1m profit in the same period last year. Murray International, with Rangers included, is worth £350m, while his property portfolio, including large tracts around Edinburgh, is also valued at £350m. With personal investments and property, he is easily worth £750m. Link to post Share on other sites More sharing options...
Bluedell 14 Posted August 21, 2009 Share Posted August 21, 2009 A lot of the rumours have just been people talking baws and endulging in an overactive imagination. A lot of disinformation coming our way. SDM will sell Rangers if the right buyer comes along. Someone that has a sound business plan and will not make us into another Hearts.. ...and some of the rumours have a large degree of truth in them. Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,540 Posted August 21, 2009 Share Posted August 21, 2009 We have the same debt as Hearts yet they continue to recruit players, Kilmarnock have around £15m worth of debt but operate with a turnover which is just a fraction of ours. Hamilton were even declared insolvent during a recent court case with former assistant manager John McCormack recently. kilmarnock have been slashing everything for years, laid off the first team coach in the summer that the players looked up to hamilton have been cleared of all charges and have taken in more than us in transfer fees this summer, and their wage budget is in line hearts have cut back on everything as well, they have released more players on wages and by the looks of last night recrutied even worse than they had last season we had to cut back, its simple, the kaunas shambles has put us back 3 years i would guess, financially Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted August 21, 2009 Share Posted August 21, 2009 Until SDM actually comes out and says this is the amount he wants to sell up for, we are stuck with him. Link to post Share on other sites More sharing options...
outlaw69uk 123 Posted August 21, 2009 Share Posted August 21, 2009 Until SDM actually comes out and says this is the amount he wants to sell up for, we are stuck with him. Dammit, thats blown my buzz for tonight Link to post Share on other sites More sharing options...
disgruntled_bear 157 Posted August 21, 2009 Share Posted August 21, 2009 Until SDM actually comes out and says this is the amount he wants to sell up for, we are stuck with him. Dammit, thats blown my buzz for tonight Told you already, until something major happens that makes me disgruntled again. This new me will remain Link to post Share on other sites More sharing options...
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