hammer93 15,064 Posted July 10, 2012 Share Posted July 10, 2012 Im no accountant but i wouldn't need to be for this bit of totting up.As Rangers debt kept risingto i think 78mill round about 03-04 urgent measures were needed.These measures came as we sold of the family silver in an effort to reduce costs, we replaced them with cheap replacements i.enuno capucho(who won a medal in seville ), ostenstad, vanoli, emerson to name a fewbut you get the picture.Now from that season it was apparent we would be downsizing a good bitin the coming years.As we downsized on the park our debt was starting to downsize off it.We werestill managing to be reasonably competitive on the park during the cull.As we sold of players and had runs in europe our financial position again improved to the tune of 18mill owed to the bank.So 60mill had been paid back and Dr death was about to pay the remaining 18mill.Now this is whereit dosent add up, 9mth into his tenure shyte claims the club is losing 1.5mill a mth and this wasthe reason for not paying the paye(my arse).How could we reduce debt every year for the last 7whilst having such monthly losses.The truth is that wee fucker has stole money out the club welove, he had better hope the fraud squad get him before the bears do. Quote Link to post Share on other sites More sharing options...
Gillete 1,338 Posted July 10, 2012 Share Posted July 10, 2012 Nuno capucho....dear godI just got a cold shiver reading that cunts name Quote Link to post Share on other sites More sharing options...
WVB 2,560 Posted July 10, 2012 Share Posted July 10, 2012 Its just a hunch.............but I think there was something not quite right going on. Quote Link to post Share on other sites More sharing options...
Shetland 76 Posted July 10, 2012 Share Posted July 10, 2012 I'm just curious how much of the Jelavic cash we got upfront, and how we had absolutely nothing in the bank when D&P took over Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,772 Posted July 10, 2012 Share Posted July 10, 2012 i think we have Paul Murray here. Is the op forgetting smith's lavish spending after kaunas which left us a financial black hole that mih and Lloyds both were unable/unwilling to back Quote Link to post Share on other sites More sharing options...
Craigie79 67 Posted July 10, 2012 Share Posted July 10, 2012 Im sure the Loss of European revenue played a big part in it as did not having an overdraft to fall back on. Quote Link to post Share on other sites More sharing options...
The Godfather 72,419 Posted July 10, 2012 Share Posted July 10, 2012 i think we have Paul Murray here. Is the op forgetting smith's lavish spending after kaunas which left us a financial black hole that mih and Lloyds both were unable/unwilling to backLafferty £4 million Quote Link to post Share on other sites More sharing options...
Octopus 27 Posted July 10, 2012 Share Posted July 10, 2012 Whyte spent the money on a castle Quote Link to post Share on other sites More sharing options...
'o'rangerblue 89 Posted July 10, 2012 Share Posted July 10, 2012 The wee cunt pocketed our season ticket money. You don't stay in Monaco on benefits. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,296 Posted July 10, 2012 Share Posted July 10, 2012 Because CW; 1. Mortgaged us to the hilt with Ticketus.2. We crashed out of Europe altogether.3. Increased salary bill by 50% by giving Shagger, Whitteker and the others bumper new deals.Combined, this added up to a £10M a year shortfall in funding. We would always have had a shortfall in funding the years we weren't in the CL anyway, added to the fact there was a £6M payment due to Ticketus, which he borrowed more money from Ticketus to pay Ticketus and the writing was on the wall IMO.Given the Ticketus deal it was obvious we couldn't survive; so the only logical explanation is that CW intended to liquidate us from the beginning that is why he invested no money of his own, indeed looks like he has fleeced about £9M going by the figures.IMO he set out to destroy us, I'm surprised he is still walking and talking TBH. Quote Link to post Share on other sites More sharing options...
broxi74 127 Posted July 10, 2012 Share Posted July 10, 2012 Whyte spent the money on a castlethe castle was a rental same as his suit! Quote Link to post Share on other sites More sharing options...
ianb1547 3,767 Posted July 10, 2012 Share Posted July 10, 2012 Its just a hunch.............but I think there was something not quite right going on. jumping to conclusions again Quote Link to post Share on other sites More sharing options...
johncolby76 48 Posted July 10, 2012 Share Posted July 10, 2012 the castle was a rental same as his suit!Same as his girlfriend. Quote Link to post Share on other sites More sharing options...
RFC55 109,756 Posted July 10, 2012 Share Posted July 10, 2012 i think we have Paul Murray here. Is the op forgetting smith's lavish spending after kaunas which left us a financial black hole that mih and Lloyds both were unable/unwilling to backQuite poor against Smith there Jim, he like Advocaat can only spend what they are offered! They don't know ins and outs of club finances Quote Link to post Share on other sites More sharing options...
Big Al 55 9,296 Posted July 10, 2012 Share Posted July 10, 2012 CW destroyed our club in 9 months, nothing to do with anyone else Quote Link to post Share on other sites More sharing options...
bigblueyonder 11,158 Posted July 10, 2012 Share Posted July 10, 2012 Murray was fleecing us for years... Quote Link to post Share on other sites More sharing options...
Craigie79 67 Posted July 10, 2012 Share Posted July 10, 2012 I'm just curious how much of the Jelavic cash we got upfront, and how we had absolutely nothing in the bank when D&P took overTheir was over 3 million in the bank when D&P took over. Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,832 Posted July 10, 2012 Share Posted July 10, 2012 Because CW; 1. Mortgaged us to the hilt with Ticketus.2. We crashed out of Europe altogether.3. Increased salary bill by 50% by giving Shagger, Whitteker and the others bumper new deals.Combined, this added up to a £10M a year shortfall in funding. We would always have had a shortfall in funding the years we weren't in the CL anyway, added to the fact there was a £6M payment due to Ticketus, which he borrowed more money from Ticketus to pay Ticketus and the writing was on the wall IMO.Given the Ticketus deal it was obvious we couldn't survive; so the only logical explanation is that CW intended to liquidate us from the beginning that is why he invested no money of his own, indeed looks like he has fleeced about £9M going by the figures.IMO he set out to destroy us, I'm surprised he is still walking and talking TBH.That just about sums it up. D & P found a £9m financial hole in the accounts. £3.9m is being held in a lawyers account and the rest is missing. A couple of people were paid / given £250k each by Whyte but D & P were trying to get that back. Still millions missing though. Quote Link to post Share on other sites More sharing options...
hammer93 15,064 Posted July 10, 2012 Author Share Posted July 10, 2012 i think we have Paul Murray here. Is the op forgetting smith's lavish spending after kaunas which left us a financial black hole that mih and Lloyds both were unable/unwilling to backThe majority of cash spent came after we sold king carlos for £7.8 to villa Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,772 Posted July 10, 2012 Share Posted July 10, 2012 Quite poor against Smith there Jim, he like Advocaat can only spend what they are offered! They don't know ins and outs of club financesit's not a dig at smith mate. Just simply stating that he was the manager. We were less than 10 million in debt when smith started the season we got to Manchester if i remember correctly Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,772 Posted July 10, 2012 Share Posted July 10, 2012 The majority of cash spent came after we sold king carlos for £7.8 to villa lafferty, edu and velicka cost what Carlos was sold for. Then we also got miller and mendes that season along with boughiecouple that with an already loss making side crashing out of Europe to a team of farmers and postmen, the increase in wages spent that season nearly caused the death of our club.If the champions league wasn't guaranteed to the league winners for 2 seasons in a row back then i think Lloyds would have culled us badly Quote Link to post Share on other sites More sharing options...
eosmhdo 1,879 Posted July 10, 2012 Share Posted July 10, 2012 The day it hit home to me was when Azure took over the catering. I remember it was the same people in the kiosks and just a different uniform. Went home and found out who Azure were and never trusted David Murray again.Had my doubts about him before then but was confirmed that night.Deserves all he has coming to him.People say it is not a crime to be bad at business.I think that the law should change then and maybe it would stop arseholes taking up the business challenge and leaving misery behind them. Quote Link to post Share on other sites More sharing options...
elephants stoned 2,994 Posted July 10, 2012 Share Posted July 10, 2012 Same as his girlfriend.Wonder how much it costs for a bit extra from her? Probably our fucking transfer budget Quote Link to post Share on other sites More sharing options...
Crespie6 334 Posted July 10, 2012 Share Posted July 10, 2012 The day it hit home to me was when Azure took over the catering. I remember it was the same people in the kiosks and just a different uniform. Went home and found out who Azure were and never trusted David Murray again.Had my doubts about him before then but was confirmed that night.Deserves all he has coming to him.People say it is not a crime to be bad at business.I think that the law should change then and maybe it would stop arseholes taking up the business challenge and leaving misery behind them.the bankster fanboys wont like this Quote Link to post Share on other sites More sharing options...
Thermopylae 15,287 Posted July 10, 2012 Share Posted July 10, 2012 Yes Bonhoff said we spent money we didn't have but the tuth is Whyte is spending money right now that we used to have Quote Link to post Share on other sites More sharing options...
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