Rangers Announce Interim Results

[disgruntled_bear 157]

so what's the debt down to now?

It's not. IMO it is today sitting at more than £30m.

What we have to remember is the profit margin for the 2nd half of the season, if a a profit is made, will be very small in comparison to the £13 million odd made in the 1st half. If profits of above £3 million are posted for the 2nd half, I will be pleasantly surprised.

I'd be astonished! We'll make a loss in H2 of several million.

Boss's earlier statement has confused me. My thoughts are that by the end of June this year our Debt wil be about 23m - 24m.

To be still in excess of 30m would NOW surprise me. Boss you need to expand a little on your thoughts. A little clarification would be welcomed.

The way I'm picking it up, is that the debt is only getting serviced by £1million each year. Regardless of how much profit we raise from reducing operating costs.

Think of it as a minimum payment to a big credit card bill and you get the picture, unless we have all the cash to pay it off in one go from a new owner...

As a minimum this would be ideal. Though it would take 15 years to pay off the debt, unrealistic I think to say the least. Would RFC be happy with £5M every season to spend on players and wages? Do the maths, £13M this season and with participation in the CL next season the same results should emerge. So that's £16M to the debt in one year (half the debt) and £10M to the team. Surely whoever it is in charge at the moment could come up with a deal like this to keep the two parties happy.

On another note, the STV news reported that AJ says keeping the bank from the door was not priority but finding new investors for the club was. This augurs quite well does it not?

That's the plan, but it would take a lot more than 15 years to pay it off at our current arrangement.

Basically were stalling on the hope a buyer comes in, but in the mean time we servicing the running costs so it looks a good investment opportunity.

The CL figures are just keeping us in the black for the full season, we wont have anywhere near enough to half the debt in two years.

[stuartmccallsfall 4]

so what's the debt down to now?

It's not. IMO it is today sitting at more than £30m.

What we have to remember is the profit margin for the 2nd half of the season, if a a profit is made, will be very small in comparison to the £13 million odd made in the 1st half. If profits of above £3 million are posted for the 2nd half, I will be pleasantly surprised.

I'd be astonished! We'll make a loss in H2 of several million.

Boss's earlier statement has confused me. My thoughts are that by the end of June this year our Debt wil be about 23m - 24m.

To be still in excess of 30m would NOW surprise me. Boss you need to expand a little on your thoughts. A little clarification would be welcomed.

The way I'm picking it up, is that the debt is only getting serviced by £1million each year. Regardless of how much profit we raise from reducing operating costs.

Think of it as a minimum payment to a big credit card bill and you get the picture, unless we have all the cash to pay it off in one go from a new owner...

As a minimum this would be ideal. Though it would take 15 years to pay off the debt, unrealistic I think to say the least. Would RFC be happy with £5M every season to spend on players and wages? Do the maths, £13M this season and with participation in the CL next season the same results should emerge. So that's £16M to the debt in one year (half the debt) and £10M to the team. Surely whoever it is in charge at the moment could come up with a deal like this to keep the two parties happy.

On another note, the STV news reported that AJ says keeping the bank from the door was not priority but finding new investors for the club was. This augurs quite well does it not?

That's the plan, but it would take a lot more than 15 years to pay it off at our current arrangement.

Basically were stalling on the hope a buyer comes in, but in the mean time we servicing the running costs so it looks a good investment opportunity.

The CL figures are just keeping us in the black for the full season, we wont have anywhere near enough to half the debt in two years.

Maths aint my strong point mate. I was doing basic arithmetic there, 13-5=8. I know its a lot more complicated than that and even reading back on my own post I can see how flawed it is. Business is a bastard aint it? So it's CL football for the next few seasons or a new owner to keep us afloat because basically we cant rely on DM dosh anymore. And as it looks, neither can he.

[william2408 0]

you cant sell the shop if the owner dont want to sell? again lads, its been said for a very long time that the thief didnt want to sell?

[Chef 436]

if rangers is servicing mih debt, we wont be sold due to income generated toward the mih debt that we provide, if we were sold where would that leave murray, i dont understand how he can spend money on future project and a new house and the like and be owing so much money, maybe murray is refusing to let rangers go on these basis, or there are no buyer willing to pay the amount they want, maybe the banks want to keep rangers on as they know it is generating an income, either way tit is the club and fans that are going to suffer.

one last thing does the freedom of information act not allow someone to check some of these thoeries out, just a suggestion

[disgruntled_bear 157]

so what's the debt down to now?

It's not. IMO it is today sitting at more than £30m.

What we have to remember is the profit margin for the 2nd half of the season, if a a profit is made, will be very small in comparison to the £13 million odd made in the 1st half. If profits of above £3 million are posted for the 2nd half, I will be pleasantly surprised.

I'd be astonished! We'll make a loss in H2 of several million.

Boss's earlier statement has confused me. My thoughts are that by the end of June this year our Debt wil be about 23m - 24m.

To be still in excess of 30m would NOW surprise me. Boss you need to expand a little on your thoughts. A little clarification would be welcomed.

The way I'm picking it up, is that the debt is only getting serviced by £1million each year. Regardless of how much profit we raise from reducing operating costs.

Think of it as a minimum payment to a big credit card bill and you get the picture, unless we have all the cash to pay it off in one go from a new owner...

As a minimum this would be ideal. Though it would take 15 years to pay off the debt, unrealistic I think to say the least. Would RFC be happy with £5M every season to spend on players and wages? Do the maths, £13M this season and with participation in the CL next season the same results should emerge. So that's £16M to the debt in one year (half the debt) and £10M to the team. Surely whoever it is in charge at the moment could come up with a deal like this to keep the two parties happy.

On another note, the STV news reported that AJ says keeping the bank from the door was not priority but finding new investors for the club was. This augurs quite well does it not?

That's the plan, but it would take a lot more than 15 years to pay it off at our current arrangement.

Basically were stalling on the hope a buyer comes in, but in the mean time we servicing the running costs so it looks a good investment opportunity.

The CL figures are just keeping us in the black for the full season, we wont have anywhere near enough to half the debt in two years.

Maths aint my strong point mate. I was doing basic arithmetic there, 13-5=8. I know its a lot more complicated than that and even reading back on my own post I can see how flawed it is. Business is a bastard aint it? So it's CL football for the next few seasons or a new owner to keep us afloat because basically we cant rely on DM dosh anymore. And as it looks, neither can he.

Business is a bastard, but the way it's coming across... A season without CL money at the moment ain't even worth thinking about.

[TheWholeStruth 7]

if rangers is servicing mih debt, we wont be sold due to income generated toward the mih debt that we provide, if we were sold where would that leave murray, i dont understand how he can spend money on future project and a new house and the like and be owing so much money, maybe murray is refusing to let rangers go on these basis, or there are no buyer willing to pay the amount they want, maybe the banks want to keep rangers on as they know it is generating an income, either way tit is the club and fans that are going to suffer.

one last thing does the freedom of information act not allow someone to check some of these thoeries out, just a suggestion

Your confusing MIH the business with David Murray the individual. If MIH go out of business tomorrow David Murray will still be a very wealthy man.

Anyway, I'm away to watch the game and take my my mind off this shite for a couple of hours.

[tommy2212 151]

Very impressive figures it must be said especially in these recent times of people tightening their spending. Hopefully any potential buyers are encourage by this.

[Jimfanciesthedude 24,556]

Excellent results.

My only surprise is that anyone here is surprised! You've been told often enough how things were shaping up financially.

aye boss but they ere happy, positive threads, and they threads get lost after one or two replies

whereas a thread titles "we're bust" will gather 100's of replies and top the list after a week

[GeneralCartmanLee 313]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

[jimgers 565]

the amount of people that these POSITVIE results seem to have hurt is fucking pathetic. There is some amount of negative shite still being spouted, because it didnt suit peoples agendas

Exactly. These are good results. Lets enjoy this moment. Its great news at last

It is only great for MIH, as we are servicing £1million p/year, the rest goes straight to MIH's Debt.

We could make £30m and still be in debt as it would go to MIH.

It's Murray who is fucking us over! Unless a buyer is found, it will be bleak long term.

These interim results are excellent!!! but we are worrying ourselves to death over the debt.

I have no more knowledge of the financial state of affairs of our club than the next Bear, but i will stick my neck out here and hope i don't get it chopped off. Or get a life ban from this forum (as happened on FF) by defending SDM.

I don't believe any of the profits will go out, or is going out the club to service MIH's own debts. It has never been said that they are? nor been proved to date that they have/are being used to prop up Rangers parent company?

Rangers are paying Lloyd's 1mil per Annam servicing this debt, through Rangers own on the field and in house business success.Any profits will i believe go back into Rangers maintaining and running the club, end of.

It would be business suicide (and personal suicide) for SDM to syphon off profits from Rangers to service debts accrued by MIH.

But i may stand corrected.

[djgazbcm 55]

the amount of people that these POSITVIE results seem to have hurt is fucking pathetic. There is some amount of negative shite still being spouted, because it didnt suit peoples agendas

Exactly. These are good results. Lets enjoy this moment. Its great news at last

It is only great for MIH, as we are servicing £1million p/year, the rest goes straight to MIH's Debt.

We could make £30m and still be in debt as it would go to MIH.

It's Murray who is fucking us over! Unless a buyer is found, it will be bleak long term.

These interim results are excellent!!! but we are worrying ourselves to death over the debt.

I have no more knowledge of the financial state of affairs of our club than the next Bear, but i will stick my neck out here and hope i don't get it chopped off. Or get a life ban from this forum (as happened on FF) by defending SDM.

I don't believe any of the profits will go out, or is going out the club to service MIH's own debts. It has never been said that they are? nor been proved to date that they have/are being used to prop up Rangers parent company?

Rangers are paying Lloyd's 1mil per Annam servicing this debt, through Rangers own on the field and in house business success.Any profits will i believe go back into Rangers maintaining and running the club, end of.

It would be business suicide (and personal suicide) for SDM to cypher off profits from Rangers to service debts accrued by MIH.

But i may stand corrected.

walter has eluded to it and alastair johnston on rr never filled us with optimism ffs

all our profits are being used to service the MIH debt and will do until we find a buyer

and i wonder how long that will take ffs...2 points i have on that subject....

1.AJ/SDM wont be in a hurry to find a buyer or sell because the longer they have got hold of us the more they can syphon and use to reduce the MIH debt.

2.lloyds wont be in a hurry also .If they see the MIH debt being reduced as a result of us

then they will want us to be part of MIH for as long as ffs

knowing that we are servicing the debt but still will be a sellable asset to reduce the debt further when they feel they have (including johnston and murray)milked us for all they can ...

NOW ARE WE STARTING TO REALISE WHAT WALTER SMITH HAS BEEN

HINTING AT ???

[rbr 364]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

It certainly does GCL and though the figures are excellent the warning that AJ repeated on the three main Radio channels as well as not ctritiscizing the fans for protesting , blows Contacts post right out the water IMHO , in fact AJ was even more scathing of what lies ahead .I know you wont agree with that but that is what I believe .

[jimgers 565]

the amount of people that these POSITVIE results seem to have hurt is fucking pathetic. There is some amount of negative shite still being spouted, because it didnt suit peoples agendas

Exactly. These are good results. Lets enjoy this moment. Its great news at last

It is only great for MIH, as we are servicing £1million p/year, the rest goes straight to MIH's Debt.

We could make £30m and still be in debt as it would go to MIH.

It's Murray who is fucking us over! Unless a buyer is found, it will be bleak long term.

These interim results are excellent!!! but we are worrying ourselves to death over the debt.

I have no more knowledge of the financial state of affairs of our club than the next Bear, but i will stick my neck out here and hope i don't get it chopped off. Or get a life ban from this forum (as happened on FF) by defending SDM.

I don't believe any of the profits will go out, or is going out the club to service MIH's own debts. It has never been said that they are? nor been proved to date that they have/are being used to prop up Rangers parent company?

Rangers are paying Lloyd's 1mil per Annam servicing this debt, through Rangers own on the field and in house business success.Any profits will i believe go back into Rangers maintaining and running the club, end of.

It would be business suicide (and personal suicide) for SDM to cypher off profits from Rangers to service debts accrued by MIH.

But i may stand corrected.

walter has eluded to it and alastair johnston on rr never filled us with optimism ffs

all our profits are being used to service the MIH debt and will do until we find a buyer

and i wonder how long that will take ffs...2 points i have on that subject....

1.AJ/SDM wont be in a hurry to find a buyer or sell because the longer they have got hold of us the more they can syphon and use to reduce the MIH debt.

2.lloyds wont be in a hurry also .If they see the MIH debt being reduced as a result of us

then they will want us to be part of MIH for as long as ffs

knowing that we are servicing the debt but still will be a sellable asset to reduce the debt further when they feel they have (including johnston and murray)milked us for all they can ...

NOW ARE WE STARTING TO REALISE WHAT WALTER SMITH HAS BEEN

HINTING AT ???

If that is the case, then i am going to watch for an sudden death in the obituary section of the Scotsman newspaper.

[boss 1,941]

all our profits are being used to service the MIH debt and will do until we find a buyer

Lol - are you here all week?

[GeneralCartmanLee 313]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

It certainly does GCL and though the figures are excellent the warning that AJ repeated on the three main Radio channels as well as not ctritiscizing the fans for protesting , blows Contacts post right out the water IMHO , in fact AJ was even more scathing of what lies ahead .I know you wont agree with that but that is what I believe .

Which parts of contacts post ?

AJ indictaed that a new business plan would be drawn up dependant on success on the park this season and that may allow signings, i never once heard him say we will be forced to sell players, i would take that as a positive.

As per our discussion last night he went to lengths to explain Lloyds were not running the club, what's your opinion of that ?

[djgazbcm 55]

all our profits are being used to service the MIH debt and will do until we find a buyer

Lol - are you here all week?

Lol - ARE YOU HERE ALL WEEK?

mmmm and you are meant to be the guy that has his finger on the pulse .

do you infact have a pulse?

[djgazbcm 55]

the amount of people that these POSITVIE results seem to have hurt is fucking pathetic. There is some amount of negative shite still being spouted, because it didnt suit peoples agendas

Exactly. These are good results. Lets enjoy this moment. Its great news at last

It is only great for MIH, as we are servicing £1million p/year, the rest goes straight to MIH's Debt.

We could make £30m and still be in debt as it would go to MIH.

It's Murray who is fucking us over! Unless a buyer is found, it will be bleak long term.

These interim results are excellent!!! but we are worrying ourselves to death over the debt.

I have no more knowledge of the financial state of affairs of our club than the next Bear, but i will stick my neck out here and hope i don't get it chopped off. Or get a life ban from this forum (as happened on FF) by defending SDM.

I don't believe any of the profits will go out, or is going out the club to service MIH's own debts. It has never been said that they are? nor been proved to date that they have/are being used to prop up Rangers parent company?

Rangers are paying Lloyd's 1mil per Annam servicing this debt, through Rangers own on the field and in house business success.Any profits will i believe go back into Rangers maintaining and running the club, end of.

It would be business suicide (and personal suicide) for SDM to cypher off profits from Rangers to service debts accrued by MIH.

But i may stand corrected.

walter has eluded to it and alastair johnston on rr never filled us with optimism ffs

all our profits are being used to service the MIH debt and will do until we find a buyer

and i wonder how long that will take ffs...2 points i have on that subject....

1.AJ/SDM wont be in a hurry to find a buyer or sell because the longer they have got hold of us the more they can syphon and use to reduce the MIH debt.

2.lloyds wont be in a hurry also .If they see the MIH debt being reduced as a result of us

then they will want us to be part of MIH for as long as ffs

knowing that we are servicing the debt but still will be a sellable asset to reduce the debt further when they feel they have (including johnston and murray)milked us for all they can ...

NOW ARE WE STARTING TO REALISE WHAT WALTER SMITH HAS BEEN

HINTING AT ???

If that is the case, then i am going to watch for an sudden death in the obituary section of the Scotsman newspaper.

aye knock yourself out mate,,,check out whos buying our shares whilst your at it eh..

[broxi51 48]

i'm now officially confused to fuck, i made more sense out of the film vanilla sky than i do with what's going at rangers.

[djgazbcm 55]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

It certainly does GCL and though the figures are excellent the warning that AJ repeated on the three main Radio channels as well as not ctritiscizing the fans for protesting , blows Contacts post right out the water IMHO , in fact AJ was even more scathing of what lies ahead .I know you wont agree with that but that is what I believe .

Which parts of contacts post ?

AJ indictaed that a new business plan would be drawn up dependant on success on the park this season and that may allow signings, i never once heard him say we will be forced to sell players, i would take that as a positive.

As per our discussion last night he went to lengths to explain Lloyds were not running the club, what's your opinion of that ?

show my manners here can i jump in ....too late..

WALTER SMITH went to lengths in eluding to our, GLASGOW RANGERS F.C.s impending doom .

Whats YOUR opinion of that?

[djgazbcm 55]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

It certainly does GCL and though the figures are excellent the warning that AJ repeated on the three main Radio channels as well as not ctritiscizing the fans for protesting , blows Contacts post right out the water IMHO , in fact AJ was even more scathing of what lies ahead .I know you wont agree with that but that is what I believe .

Which parts of contacts post ?

AJ indictaed that a new business plan would be drawn up dependant on success on the park this season and that may allow signings, i never once heard him say we will be forced to sell players, i would take that as a positive.

As per our discussion last night he went to lengths to explain Lloyds were not running the club, what's your opinion of that ?

show my manners here can i jump in ....too late..

WALTER SMITH went to lengths in eluding to our, GLASGOW RANGERS F.C.s impending doom .

Whats YOUR opinion of that?

impending doom

you should know me by now ffs ,,why the fuck do u dive in all the time

made my night mate lol

[Ace 3,556]

Listening again to Clyde1 broadcast earlier tonight and here is a synopsis of the comment from AJ regarding the situation ...

** Debt situation is a Red Herring due to reporting times for figures

** Obligation is to pay down debt by £1m year which is easily achieved

** £9m paid to outstanding balance of player fees

** Debt is likely to be short of £30m but that doesn't take account of CL & other monies yet to be received which could not be included in the figures

** Rangers cost structure based on European football

** Administration never a reality

** Donald Muir represents SDM on the board NOT the bank. He is there to help financially restructure Rangers. He is a noin executive member of the board therefore has limited authority & responsibilty.

** Rangers have an acceptable financial plan organised with Lloyds. Not the preferred situation but needed to keep moving forward.

** Rangers to look again at the business plan & the business protocol within the plan to possibly aid summer dealings

** Lloyds provide working capital to underwright the club's operations

** Ongoing discussions regarding sale of club

** Does not know relationship between MIH & Bank in regards to disposing of Rangers shares

** Depending on perfmormance this year will have an effect on any potential summer dealings.

** Confident of offering contrwct to Kris Boyd but dependant on Rangers valuation of same

** No bid for club (including the rumoured £18m)

** Tentative enquiries for the purchase of club

This is what i think were the highlights.

NOTE - I can't do the same with RR as i can't get the listen again feature to work

[djgazbcm 55]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

It certainly does GCL and though the figures are excellent the warning that AJ repeated on the three main Radio channels as well as not ctritiscizing the fans for protesting , blows Contacts post right out the water IMHO , in fact AJ was even more scathing of what lies ahead .I know you wont agree with that but that is what I believe .

Which parts of contacts post ?

AJ indictaed that a new business plan would be drawn up dependant on success on the park this season and that may allow signings, i never once heard him say we will be forced to sell players, i would take that as a positive.

As per our discussion last night he went to lengths to explain Lloyds were not running the club, what's your opinion of that ?

show my manners here can i jump in ....too late..

WALTER SMITH went to lengths in eluding to our, GLASGOW RANGERS F.C.s impending doom .

Whats YOUR opinion of that?

impending doom

you should know me by now ffs ,,why the fuck do u dive in all the time

made my night mate lol

Come on! I was laughing at your choice of words big man Not diving in! I've got no intention of getting involved here!

right, well quick delete your post so we can see who else will take the bait ffs lol

in sayin that you are prob the only one that knows what it means lol

[rbr 364]

AJ confirms that Donald Muir has limited authority and responsability and works for the Murray group. AJ listens to his views but he is the chairman and Lloyds don't run the club the board do have to work within paparmeters agreed between Rangers and Lloyds.

The protestors must be very happy to have this confirmed, this was a big part of what they wanted to know

It certainly does GCL and though the figures are excellent the warning that AJ repeated on the three main Radio channels as well as not ctritiscizing the fans for protesting , blows Contacts post right out the water IMHO , in fact AJ was even more scathing of what lies ahead .I know you wont agree with that but that is what I believe .

Which parts of contacts post ?

AJ indictaed that a new business plan would be drawn up dependant on success on the park this season and that may allow signings, i never once heard him say we will be forced to sell players, i would take that as a positive.

As per our discussion last night he went to lengths to explain Lloyds were not running the club, what's your opinion of that ?

He again stated how serious the position will be in the summer and couldn't rule out player sales , I dont know why you continue to back Muir when the chairman , manager , and assistant manager are all in the media banging on about how serious our finances and how they are worried about our future.

Also he never slated the fans for protesting in fact he went to great lenghts to actually state they were quite right .

As for LLoyds younonly need look at the statement on the official site / press release

Until such time as this is achieved, we are compelled to maintain our working relationship with Lloyds TSB Bank plc.

"Until such time as this is achieved, we are compelled to maintain our working relationship with Lloyds TSB Bank plc."

"The Board understands that reliance on such a facility going forward is not desirable if we are to retain control over the Club's destiny and avoid negatively impacting the potential for future success. "

Hardly a glowing endorsement of working in Tandem

[martin93 136]

Its a fucking joke that its going to Murray,he is a fucking prick who hides when it gets tough the sooner we are no longer associated with him in any way the better

[djgazbcm 55]

Its taken me a while, but I've learned how to decifer your posts

respect mate ,i will need to change the angle now..sarcasm aint working lol

but you know yourself certain posters argue the toss again and again till your ears bleed

then you turn the tables and they disappear ffs ...lol