Debt and the missing millions

[Blue corn flakes 1,282]

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

Is this what not all of the English prem are doing?

[a loyal man 4]

CW destroyed our club in 9 months, nothing to do with anyone else

Does anyone believe Lloyds and Murray did not know he was selling the season ticket cash to pay off the debt?

[Big Al 55 9,289]

Does anyone believe Lloyds and Murray did not know he was selling the season ticket cash to pay off the debt?

Do you have any reason for believing that?

I don't think Lloyds or Murray could have cared less how much money CW had or where it came from. After all SDM had a letter written by Gary Whithy stating the money was in a bank account,

Lloys got their money, with BTC hanging over us that is all they wanted.

[AlCapone 7,678]

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 finances

He never blamed Smith, just pointed out a fact which is true

[Brubear 2,931]

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

At the time of the sale to Whyte that black hole you refer to was £18m as the OP states. We were not in any finacial mess when Whyte took over, albeit we have the EBT tax case hangingover us. I actually agree with the OP and have asked the question previously. He took in £27m from ticketus and paid of £18m to Lloyds, he took in c. £15m in ST money, not to mention gate receipts over and above this, then there would be commercial income, merchandising, hostpitality, lets assume we were running them at at least breakeven.

I know he put some of the top players on new contracts when he came in, which at the time I thought was the corrct decision to ensure if they left we got transfer income, but I think he may have increased the weekly wage buill consderably to do this. But still doesn't add up to me and this will be all part of the investigation.

[JCDBigBear 10,831]

At the time of the sale to Whyte that black hole you refer to was £18m as the OP states. We were not in any finacial mess when Whyte took over, albeit we have the EBT tax case hangingover us. I actually agree with the OP and have asked the question previously. He took in £27m from ticketus and paid of £18m to Lloyds, he took in c. £15m in ST money, not to mention gate receipts over and above this, then there would be commercial income, merchandising, hostpitality, lets assume we were running them at at least breakeven.

I know he put some of the top players on new contracts when he came in, which at the time I thought was the corrct decision to ensure if they left we got transfer income, but I think he may have increased the weekly wage buill consderably to do this. But still doesn't add up to me and this will be all part of the investigation.

D & P were apparently looking for approx £9 to £10 million which was unaccounted for in the Ibrox coffers.

[loyalfollower 1,543]

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

biggest gamble of was not buying the players before kaunas game. Ended up out of europe and then bought mendes edu bougherra and davis around 10 million. Wouldve made footballing and business sense to get them before the kaunas horror show. Im sure bain was haggling over 100 grand for davis.

[hammer93 15,064]

lafferty, edu and velicka cost what Carlos was sold for. Then we also got miller and mendes that season along with boughie

couple 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

The point im making here is even with spending on players and a season out of europe we weren't

about to be made insolvent at that time.such problems arose under shyte hence where did the cash

go to?

[Jimfanciesthedude 24,742]

At the time of the sale to Whyte that black hole you refer to was £18m as the OP states. We were not in any finacial mess when Whyte took over, albeit we have the EBT tax case hangingover us. I actually agree with the OP and have asked the question previously. He took in £27m from ticketus and paid of £18m to Lloyds, he took in c. £15m in ST money, not to mention gate receipts over and above this, then there would be commercial income, merchandising, hostpitality, lets assume we were running them at at least breakeven.

I know he put some of the top players on new contracts when he came in, which at the time I thought was the corrct decision to ensure if they left we got transfer income, but I think he may have increased the weekly wage buill consderably to do this. But still doesn't add up to me and this will be all part of the investigation.

apparently at the time of the europa league exit we were needing 45million to break even this season, and were only due to take in 35million, running at a 10mill loss without euro income

[corkinator 611]

I hope regan DIES due to an allergic reaction to shellfish, the cunt.

[bluepieter 7]

According to statements made by Alistair Johnston, the club had debts of £22M at the time of sale to CW.

By the time the CVA offer was made, the debts had shot up to £55M.

In 10 months the debt increased by £33M.

The only words that ever came out of CW mouth that I believed were

"I haven't taken A PENNY out of Rangers.".

I think this may well be the only true thing that man said.