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Rangers "Debt"

Broxi

By Broxi
in Jimmy Bell's Kitroom

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gunslinger

gunslinger 270

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He has facilitated a relationship with the bank that has allowed us to still operate against a back ground of huge debt reduction. That is how he contributes not by finding revenue streams.....(no idea why you think he would be finding revenue streams.... <cr> )

hes a turn around specialist.

is that what a turn around specialist does then .

sell everything you get a bid for. and buy nothing.

now that is money for old rope.

must be fun.

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gunslinger

gunslinger 270

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P.S apply for his job if it's that easy..say you will do it for half price...Sir David likes a bargin and a man of your undoubted credentials would be hard to turn down

i couldnt do it i care about the club.

i cant see why murray needs someone to do it, he certainly doesnt

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GeneralCartmanLee

GeneralCartmanLee 313

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hes a turn around specialist.

is that what a turn around specialist does then .

sell everything you get a bid for. and buy nothing.

now that is money for old rope.

must be fun.

If you believe that si what he does and it is that easy then you should think of a career chage...pretty well paid you know..... :)

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Bluepeter9

Bluepeter9 5,167

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Only profit goes to reducing debt - not turnover - so if we generate a £4M profit debt can reduce by £4M (Which without looking is what I think we did last Fiscal Year) and we will likeley do similar if not better this year. wacko.gif

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gunslinger

gunslinger 270

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Only profit goes to reducing debt - not turnover - so if we generate a £4M profit debt can reduce by £4M (Which without looking is what I think we did last Fiscal Year) and we will likeley do similar if not better this year. wacko.gif

in effect we reduced debt by 13 million last year.

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Adoniram

Adoniram 1,919

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Really...i totally disagree.....

So it was Muir that won us the League title thereby gaining entry to the Group Stages of the CL?

Silly me for thinking it was down to Walter and the players.

That is where our main source of PROFIT has come from.

All Muir has done is cut costs and identify areas within the business that were needind revamped.

That is NOT increasing our revenue streams.

Did Muir change the catering contract or the tv rights?

Did Muir renegotiate the JJB deal or increase our ST sales?

Did Muir win us a new sponsorship deal with Carling or Umbro?

I am all ears and eyes!!!

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GeneralCartmanLee

GeneralCartmanLee 313

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So it was Muir that won us the League title thereby gaining entry to the Group Stages of the CL?

Silly me for thinking it was down to Walter and the players.

That is where our main source of PROFIT has come from.

All Muir has done is cut costs and identify areas within the business that were needind revamped.

That is NOT increasing our revenue streams.

Did Muir change the catering contract or the tv rights?

Did Muir renegotiate the JJB deal or increase our ST sales?

Did Muir win us a new sponsorship deal with Carling or Umbro?

I am all ears and eyes!!!

i have explained in a reply on the previous pages...you're obviously not all eyes and ears at all you big fibber....

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Adoniram

Adoniram 1,919

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The OP missed out the approx 20 million a year we get on season tickets!

I started a thread like this a while back and got told I should be happy because we reduced our debt.

With some fans you are not allowed to question or criticise the goings on at ibrox.

Biggest outgoing = Wages

Biggest Income = Season Tickets

The latter is not enough to cover the former.

The catch 22 is that by reducing the former (wages) we drastically reduce the quality of player at the club thereby making it more difficult to win the League.

CL revenue as it stands is absolutely vital simply to keep the club ticking along as things stand.

Should we lose the CL money and there is no fresh investment of capital then the outlook for Rangers is not good at all in terms of the quality of player we will be able to attract to the club.

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gunslinger

gunslinger 270

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"£3m (ish) for Mendes"

Chance would be a fine thing, I think we got rid of him for the equivalent of a can of coke and a packet of peanuts!!

we sold him for a million then proceeded to pay a million of his wages over the following year.

esential we sold him for an interest free loan.

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ronniemca

ronniemca 479

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i simply dont believe this story of rangers being allowed to clear the debt at 1m per year over 25 years.we owe the bank 25m and we give them 25 payments of 1m each year for 25 years? im off to lloyds for a 2m mortgage tomorrow.there is something very fishy going on at our club at the moment and we need some clear information on it.as for the tims they are just a better run club and have better individuals in the key business areas.(as pointed out by an ex rangers director a few years ago)

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Adoniram

Adoniram 1,919

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i simply dont believe this story of rangers being allowed to clear the debt at 1m per year over 25 years.we owe the bank 25m and we give them 25 payments of 1m each year for 25 years? im off to lloyds for a 2m mortgage tomorrow.there is something very fishy going on at our club at the moment and we need some clear information on it.as for the tims they are just a better run club and have better individuals in the key business areas.(as pointed out by an ex rangers director a few years ago)

Hugh adam was the man you refer to and he was right in that respect.He stood up to Murray and absolutely slated his running of the club as far back as 2002.

And the repayment structure is correct as Martin Bain commented on it a few years back after the rights issue.The remaining debt was turned in to this "loan" (for want of a more descriptive word) and i think it was a minimum repayment of £1m per year had to be made.

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Poetry_In_Blue

Poetry_In_Blue 1,043

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in effect we reduced debt by 13 million last year.

Paying off old transfer fees we owed then I would agree with that, and if that's the case we should have about another 13 million to pay of more debt end of this season.

It could also be a lot more as the previous season we made a huge loss, then we made a profit end of last season about £4 million in one of the areas, and that also covered a loss if I remember correctly.

As to the paying back £1 million a year, I think this was an arrangement that was made with the bank SDM used to deal with, this bank went bust when there was the financial crash and Lloyds took over the accounts. So basically it wasn't an agreement that was made with Lloyds, even though I believe there was influences at Lloyds which haven't helped us much.

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steve2368

steve2368 1

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£2m for Wilson plus addons which I think from the EL we've already got some, the bank will take into consideration the rest though, I'm sure

they'll be something in the contract about us getting

money if he's sold or something too

and wasn't sure about mendes, can't remember

http://www.heraldscotland.com/sport/spl/rangers/wilson-s-promotion-to-liverpool-first-team-benefits-rangers-1.1071768

Wilsons add-ons are for league games

Mendes was reported in the Record as £1.5m so he could be anything!! <cr>

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Broxi

Broxi 11,473

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Rangers 10 we were still paying off transfers from bygone days. We also paid the full Jelavic amount upfront at the time. You also need to factor in the lights that are used constantly on the grass when no sunlight, the undersoil heating being on, the gas and electricity bills. Thats just some of the things that are easy to forget about. I still dont see how people think there is something suspicious going on, as even i know its illegle to falsify accounts

I know, I said I had only put down the basic figures I the first post, but you could also do the same for profit

like tv money, fundraising events, match programmes, food inside ibrox, as well as all the ticket sales etc

I don't know how many times I've said it now buy I'm not saying we should be debt free and I know much more comes into play than just transfers and tickets but it just seems from all the restraints and CL money we've got in the last 2 seasons (£30m) we should have reduced it by more than £3m ?

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Broxi

Broxi 11,473

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You are a ticket did we fuck get £3 mill for mendez we got around £1 mill and wilson we got £2 mill with extra **IF** HE PLAYES ENOUGH MATCHES

as everything else you have to pay staff, travel, players, maintenece and charity organizations plus more so fuck knows how you think we can do all this for free

GET YOUR FACTS RIGHT RANGERS_10

I think you'll find that it was £2m for Wilson with another £3m in addons through appearances

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