One Thing I Thought Was A Bit Strange

[Senna 735]

What I think is remarkable is that despite having about £3million ringfenced (which in itself means we have at least £3million sitting about in a bank acount), we're able to pay wages, pay for leccy etc etc. All this money ringfenced, yet we can still keep up our payments. We must currently be pretty solvent.

With no CL money as well, this would have been nigh on unthinkable under the old regime.

[lgr1991 303]

What I think is remarkable is that despite having about £3million ringfenced (which in itself means we have at least £3million sitting about in a bank acount), we're able to pay wages, pay for leccy etc etc. All this money ringfenced, yet we can still keep up our payments. We must currently be pretty solvent.

Exactly, 3million is around anything between 5-10% of normal yearly income, (note, not profit, income) and yet things still seem to be ticking over.

Not bad for a club on the brink eh?

[TBagalag 726]

Contracts and wages are part of what make up a budget that a manager has to work with though, no matter what your opinion on the matter is, it's like that anywhere.

IIRC, Whyte never said the 25million was for players, that was just media quote mining at best, he said 25million in working capital would be invested into the club over 5 years, so stadium improvements etc would come out of that.

I was under the impression that as part of the takeover deal, Craig Whyte had to guarantee that there would be a minimum of £5m available per season to invest in the squad and not as an overall investment in the club. I believe that the old board had demanded it as a safeguard to the teams ability to compete.

[jmo21 15]

What I think is remarkable is that despite having about £3million ringfenced (which in itself means we have at least £3million sitting about in a bank acount), we're able to pay wages, pay for leccy etc etc. All this money ringfenced, yet we can still keep up our payments. We must currently be pretty solvent.

One point I found interesting was AJ's statement about Lloyd's forcing the sale or "we'll remove your credit line". This is one of the things McGobblegiver and RangersTaxCase have been peddling that "Rangers don't have a credit line now Lloyds are gone", "will Rangers be able to pay players/bills" etc.

Does AJ's statement imply we still then have our credit line with Lloyds?

[caseyjones 3,009]

No McGregor, No Davis, No Jelavic, No Replacements for a start.

Aye, just like the previous season.

[keithgersbear 3,225]

People can talk about Craig Whyte and all that but the reality is we could be fucked as a football club because of the last owner. Craig Whyte can't work miracles.

[sassaaaa 11,406]

I was under the impression that as part of the takeover deal, Craig Whyte had to guarantee that there would be a minimum of £5m available per season to invest in the squad and not as an overall investment in the club. I believe that the old board had demanded it as a safeguard to the teams ability to compete.

The first year is only 6 months old ...........

[lgr1991 303]

I believe he is getting a chance, if we were still under Murray we as fans would be demanding he left the club. No such thing is happening to Craig Whyte, Yes there are concerns from fans, myself included. This is partly down to the lack of knowledge we have about Craig Whyte and the fact that the investment we thought the team would get has not quite materialised. Time will tell if he is the right man for the job and I hope he proves he his. Until then we are entitled to have concerns.

He's had 6 months FFS and he still has to clean up the mess from the previous regime, which he could do nothing about until the tax case is over.

His hands are tied just now and the reason the fans are forcing him is (apart from most of us being reasonable and realising changing a clubs financial position can take years)is that there are things which are not his fault that are tying his hands quite a lot and there not a lot he can do until all that is done with.

[Dunny_01 2,007]

You are not in the minority.

There are some serious blind faith issues around Whyte, but it is patently obvious, he does not have the money.

None of the curernt tax situation is his fault, however grave concerns were raised by Rangers men on the board at th

e time about his credability.

Time will tell, but only a fool thinks all this is some sort of conspiracy to derail our title challenge.

I think he does have the money but is either shifting it around his companies or keeping it until he knows tax outcome !! I think theirs no doubt he has the money or he wouldnt last 5mins and he knows that!

[TBagalag 726]

Murray is the one that should be getting hounded instead of Whyte.

I agree with what your saying, Murray has got off lightly. That's another reason why Craig Whyte is getting a fair chance. As it was not him who took the club to the brink of bankruptcy.

[keithgersbear 3,225]

Murray is the one that should be getting hounded instead of Whyte.

Murray could potentially have ruined the very existence of this club.

[skinnymate1690 665]

Aye, just like the previous season.

[keithgersbear 3,225]

What I think is remarkable is that despite having about £3million ringfenced (which in itself means we have at least £3million sitting about in a bank acount), we're able to pay wages, pay for leccy etc etc. All this money ringfenced, yet we can still keep up our payments. We must currently be pretty solvent.

That is what I did think earlier. If we are in a crisis and heading for administration, you would think it would have happened by now? Surely in the summer would have been the time to do it?

[lgr1991 303]

I think he does have the money but is either shifting it around his companies or keeping it until he knows tax outcome !! I think theirs no doubt he has the money or he wouldnt last 5mins and he knows that!

Quite possibly. It would be quite retarded to just put 25million into the clubs bank account like some were expecting when HMRC have the power and quite possibly have permission to come in and claim it all away. (The money would be owed by Rangers, not Whyte so im assuming his other assets/finances would be safe)

It would be the smart thing to do, if he does have the money, to wait until the tax goes one way or the other and then start putting any serious money into the club.

[caseyjones 3,009]

What I think is remarkable is that despite having about £3million ringfenced (which in itself means we have at least £3million sitting about in a bank acount), we're able to pay wages, pay for leccy etc etc. All this money ringfenced, yet we can still keep up our payments. We must currently be pretty solvent.

What exactly do you think the ST money is for? We will need to sell in January to balance the books as we have no credit facility to dip into.

[freezinhere 3]

I was under the impression that as part of the takeover deal, Craig Whyte had to guarantee that there would be a minimum of £5m available per season to invest in the squad and not as an overall investment in the club. I believe that the old board had demanded it as a safeguard to the teams ability to compete.

The old board got us into this mess and i wouldnt have thought they would be the best of judges as to how to run a club.Whyte has at least enabled us to lenghten the contracts of our main playing assets and bring in a few players.For the old board to demand safeguards seems to me to be some sort of really bad joke considering the arse they have made of it

[lgr1991 303]

The first year is only 6 months old ...........

For all we know, Ally requoested for half in the summer and then see what areas we needed strenghtening after a few months player and get the rest in January.

Whyte has pretty much said up front, no media quote mining or spin this time, that we will spend on the squad in January.

[keithgersbear 3,225]

What exactly do you think the ST money is for? We will need to sell in January to balance the books as we have no credit facility to dip into.

Which could cost us the title?

[caseyjones 3,009]

I think he does have the money but is either shifting it around his companies or keeping it until he knows tax outcome !! I think theirs no doubt he has the money or he wouldnt last 5mins and he knows that!

You also think that without the takeover we would already be in administration and would be fighting relegation, so your credibility is pretty much shot to fuck.

[Creampuff 22,628]

Whyte's greatest gift to the club was not selling our best players.

It's from here we need to grow.

He has my faith.

[caseyjones 3,009]

Which could cost us the title?

Of course it could. What's your point, mate?

[TBagalag 726]

The old board got us into this mess and i wouldnt have thought they would be the best of judges as to how to run a club.Whyte has at least enabled us to lenghten the contracts of our main playing assets and bring in a few players.For the old board to demand safeguards seems to me to be some sort of really bad joke considering the arse they have made of it

The fucked up thing is I'm sure that was the demand placed upon Craig Whyte. Your right it is a bad joke. Don't know how true it is as it was only Alistair Johnstone who was quoted on it at the time of the takeover. And we all know he is not best pals with Mr Whyte.

[Sicknote 26]

Your not in the minority, it's just never been the Rangers way to question the board, that's our tradition and culture.

However, we trusted in Murray for decades, and I will be forever grateful for the good times and they were a plenty, felt like a king some nights. But, that came at a price, one we have been happy to be blind to. The reality is that he sold the club to someone who was willing to buy his mess, not just the club, but the financial mess also. It took 3 years to find someone, and up stepped Craig Whyte.

Craig Whyte IS a venture capitalist. Money is his game, NOT football.

[keithgersbear 3,225]

Of course it could. What's your point, mate?

Well then I have to question what would be best for us? Administration would be awful but if it means we have to start with a clean slate, then perhaps it is for the best? Why waste our time (potentially) with carrying on if we are just going to lose all our best players in January.

[lgr1991 303]

Your not in the minority, it's just never been the Rangers way to question the board, that's our tradition and culture.

However, we trusted in Murray for decades, and I will be forever grateful for the good times and they were a plenty, felt like a king some nights. But, that came at a price, one we have been happy to be blind to. The reality is that he sold the club to someone who was willing to buy his mess, not just the club, but the financial mess also. It took 3 years to find someone, and up stepped Craig Whyte.

Craig Whyte _IS a venture capitalist. Money is his game, _NOT football.

Wouldn't it be in his best interests for the club to succeed and be financially successful though?

Reputation means something in business, he has a chance with Rangers to publically be seen as a success as a businessman, surely that would be better than him than to be seen as a grim reaper of business.