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Bain's wages


beatler24
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I don't think that's true. Here's what the ET says:

http://www.eveningtimes.co.uk/news/editor-s-picks/rangers-chief-gets-165-000-pay-rise-1.1057043

Rangers chief executive Martin Bain has received a £165,000 pay rise in the past year.

Mr Bain, the highest-paid director at Ibrox, received a 35% increase in his salary from £468,000 to £633,000, according to the club’s latest annual accounts.

His wages for the 12 months to June 30 included £55,000 of contributions to a money-purchase pension scheme.

The accounts also showed total boardroom pay at Rangers increased from £695,000 to £832,000.

The SPL champions said their long-term loan and overdraft facility with Lloyds Banking Group stood at £22.3million at June 30.

This was down £3.7m from a year earlier, a situation enabled by the club’s Champions League participation.

Chairman Alastair Johnston said in the annual report: “A balance has to be struck between debt reduction and remaining competitive on the playing front.

“To this end, we agreed a business plan with Lloyds Banking Group in recent months, and while we continue to look for new investment, this has enabled an allocation of funding for new players, while at the same time retaining the nucleus of the squad that has served us so well in the past two seasons.”

Rangers moved from an operating loss of £17.3m to a £5.1m profit in the year to June 30, as Champions League participation helped boost its turnover by £16.6m to £56.3m.

Net operating expenses decreased by £4.4m to £43.9m, reflecting reduced salary levels and efficiencies.

Rangers Supporters Trust spokesman Stephen Smith praised Mr Bain for his work, but questioned whether such a pay increase was merited.

He said: “An increase of salary like that can’t ever be justified.”

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the rumours doing the rounds is that bain wrote in a large pay off fee in his latest contract as he knew we would be under new ownership evenchaly to try and safe guard his job.

I'm not being funny here mate, but that made me fuckin laugh oot loud - it's almost like ye meant it. :praise:

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Bain has cost us in excess of £4 million in wages. :disappointment:

http://home.rangersmedia.co.uk/index.php/component/content/article/41-finances/1131-martin-bains-earnings-from-rangers-exceed-p4m.html

Next up, Martin Bain. From fashion modelling for £40 to draining £4m out of Rangers. Just where did it all go wrong for Martin? Nice guy, Rangers credentials (as with Johnston) undoubted, but completely out of his depth. When you compare what you get across the city for the same money it makes you wonder. We have paid over £46m into two Employee Trusts during his directorship, over £20m of that while he has been Chief Executive. That his performance has improved in the last 18 months is no coincidence - his job has been under threat and he knows it. He is unlikely to reach such a dizzy salary again and he knows it. When any corporate doctor comes in to a failing company, the first casualty is usually the CEO, and he knows it.

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Id like to add that, on a recent shopping trip, bain purchased a £40 adidas watch fro a store my fiance is the manager of. The greedy bastars had the cheek to ask her if he could use his press card for a 10% discount. I couldnt believe it when she told me. I assure you all, this isnt bullshit, as i say, my good lady witnessed it. I know its within his rights, but for fuck sake o that kinda money would you even bothe askin?

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I was told today that he was on 1.2 million a year plus last year he gave himself a 14% pay rise. Does anyone know if this is true? If true he was robbing us.

no idea what he is on but to say he gave himself a rise is incredilous, his employers hand out the rises not the employee.

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Thats noonsense OP, 600 odd k a year including a 145k bonus was his salary last year. it went from around 550k a year before our debt to 350k a year when LBG took charge and when we started posting profits again it went up again. Irregardless, get him to fuck and get someone who knows what they are doing in.

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to think we missed out on some players and nearly the leauge for less than this,whilst our management team even worked without a conract,it gives ya a bad feelin in the stomach that the club allowed this to continue.......WATP

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to think we missed out on some players and nearly the leauge for less than this,whilst our management team even worked without a conract,it gives ya a bad feelin in the stomach that the club allowed this to continue.......WATP

Without a contract yes, but they were still getting paid of course.

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CEO's in most companies that have turnover like ours would get roughly the same

remember that during our bleak years financially, his wages were nowhere near what he got last season

He took a forced cut for around a year and a half, 2 years, that was it, the other decade almost he has been on top dollar. I agree its normal for CEO's, i have no problem with the salary, but they have to earn and deserve it, Bain does not imo.

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He took a forced cut for around a year and a half, 2 years, that was it, the other decade almost he has been on top dollar. I agree its normal for CEO's, i have no problem with the salary, but they have to earn and deserve it, Bain does not imo.

aye true

most CEO's probably dont do anything to deserve their wages, especially as they do their masters bidding most of the time

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His salary is available to see on RFC website. Its in the Club's accounts. It has a bonus package which is results based. 2004 £289k, 05 £235k, 06 £527k, 07 £357k, 08 £668k, 09 £468k, 2010 £633k. Lawwell at the San Giro got £739k in 2009.

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