£10 Million + or -

[daviecooper01 826]

So last night turned up probably the most interesting meeting between club management & fans for many a year.

And well done to Admin & the live posters who kept us all informed.

So, the single most important aspect from last night is clearly the cash situation.

The "£10m in the bank". Combined with "IPO & ST money is not kept separate".

So, the first of those statements - I absolutely believe this number is being taken from the accounts, a snapshot as at 30th June. IF that is the case, then this amount does not include ST money for the coming season.

If however, for some bizarre and pretty unprecedented reason, CM & BS have quoted from a bank statement with yesterday's date on it, then regardless of what anyone else (CM, Smith,King, Murray, McColl) says, we are in trouble.

It has already been stated that all ST money is forwarded to the club no matter how the ST is paid for by fan - all in one lump - straight to club. 10 month plan - straight to club. 4 month plan - all installments straight to club as they fall due.

If we were sitting with £10m less total ST cash (approx £10m) and adjust for wages & costs since 30th June, and add in any additional income, as at 30th June our cash at bank would be EXTREMELY LOW - clearly it was not, as the accounts will no doubt show.

So the second money statement from last night - cash being kept in same account - pretty standard - you are not going to pay bill x from IPO but bill y from ST money.

Last year's ST money obviously went into Club coffers with the dollop from the IPO, so that much is certainly true.

So we come back to - what is the state of health of the club.

Yes, there are arguably many areas of further costs which can be cut - and certainly far more areas of increased revenue, but the starting point - the snapshot, is always the accounts. When these are published, I firmly believe we will see the £10m figure as cash at 30th June.

And then we can calm down a bit.

[OLE SUPER WILBERT 2,475]

The £10m does include ST money.

[dan_ger 1,454]

Yeah my notepad calc came out at season tickets should account for at least £7 million of that £10 million reportedly in the bank.

Worrying if this is the case.

[TheLawMan 6,240]

So last night turned up probably the most interesting meeting between club management & fans for many a year.

And well done to Admin & the live posters who kept us all informed.

So, the single most important aspect from last night is clearly the cash situation.

The "£10m in the bank". Combined with "IPO & ST money is not kept separate".

So, the first of those statements - I absolutely believe this number is being taken from the accounts, a snapshot as at 30th June. IF that is the case, then this amount does not include ST money for the coming season.

If however, for some bizarre and pretty unprecedented reason, CM & BS have quoted from a bank statement with yesterday's date on it, then regardless of what anyone else (CM, Smith,King, Murray, McColl) says, we are in trouble.

It has already been stated that all ST money is forwarded to the club no matter how the ST is paid for by fan - all in one lump - straight to club. 10 month plan - straight to club. 4 month plan - all installments straight to club as they fall due.

If we were sitting with £10m less total ST cash (approx £10m) and adjust for wages & costs since 30th June, and add in any additional income, as at 30th June our cash at bank would be EXTREMELY LOW - clearly it was not, as the accounts will no doubt show.

So the second money statement from last night - cash being kept in same account - pretty standard - you are not going to pay bill x from IPO but bill y from ST money.

Last year's ST money obviously went into Club coffers with the dollop from the IPO, so that much is certainly true.

So we come back to - what is the state of health of the club.

Yes, there are arguably many areas of further costs which can be cut - and certainly far more areas of increased revenue, but the starting point - the snapshot, is always the accounts. When these are published, I firmly believe we will see the £10m figure as cash at 30th June.

And then we can calm down a bit.

Again to clarify, up to 32,000 season tickets were renewed before the 30th June all be it through many different payment methods. It has always been the case in the past that football clubs, or certainly us and them, have a renewal deadline earlier than the 30th June as it helps to show the books(cash in hand or cash at bank) in its healthiest state at a time when monthly expenses are at its lowest and cash inflow at its greatest.

[StublueKPL 524]

this has been brought up again and again. it was mentioned that we will see the accounts by the end of August. lets wait until then before debating for another 3 weeks

[Blumhoilann 6,712]

So last night turned up probably the most interesting meeting between club management & fans for many a year.

And well done to Admin & the live posters who kept us all informed.

So, the single most important aspect from last night is clearly the cash situation.

The "£10m in the bank". Combined with "IPO & ST money is not kept separate".

So, the first of those statements - I absolutely believe this number is being taken from the accounts, a snapshot as at 30th June. IF that is the case, then this amount does not include ST money for the coming season.

If however, for some bizarre and pretty unprecedented reason, CM & BS have quoted from a bank statement with yesterday's date on it, then regardless of what anyone else (CM, Smith,King, Murray, McColl) says, we are in trouble.

It has already been stated that all ST money is forwarded to the club no matter how the ST is paid for by fan - all in one lump - straight to club. 10 month plan - straight to club. 4 month plan - all installments straight to club as they fall due.

If we were sitting with £10m less total ST cash (approx £10m) and adjust for wages & costs since 30th June, and add in any additional income, as at 30th June our cash at bank would be EXTREMELY LOW - clearly it was not, as the accounts will no doubt show.

So the second money statement from last night - cash being kept in same account - pretty standard - you are not going to pay bill x from IPO but bill y from ST money.

Last year's ST money obviously went into Club coffers with the dollop from the IPO, so that much is certainly true.

So we come back to - what is the state of health of the club.

Yes, there are arguably many areas of further costs which can be cut - and certainly far more areas of increased revenue, but the starting point - the snapshot, is always the accounts. When these are published, I firmly believe we will see the £10m figure as cash at 30th June.

And then we can calm down a bit.

Commonsense at last.;-))

[JCDBigBear 10,860]

Some points:

Firstly the figure of £10m+ was stated as being current, not at 30th June.

Secondly, Stockbridge stated that he still expected the figure to be basically the same when the results are issued in a few weeks time.

Thirdly, I am paying my 3 STs on the 4 payment option. There is no way that RFC receives all the money up front because the payment comes out of my credit card account. They only get the money on the due date for each payment. I have not signed a credit agreement which is where they may receive all the money up front and the ST holder pays back the credit company.

[eastcoastbear 122]

I suspect BS is being purposely vague. After all, it's not rocket science to check what the bank balance was immediately prior to the ST money coming in.

[One_Jay 1]

BS does seem to be getting a hard time over all this... Atleast the accounts have been brought forward, so this can be cleared up!

[theiconicman 3,002]

I also paid my 2 tickets on the 4 month plan. This is not with a finance company but direct with rangers, so there is still money to come in.

Doesn't detract from your point though. It is worrying.

[californiadreamin52 339]

earlier poll as if we needed Frank BLIN clearly yes

[trublusince1982 768]

The £10m does include ST money.

yes but this years or last years?

[OLE SUPER WILBERT 2,475]

yes but this years or last years?

Obviously this years.

[daviecooper01 826]

Some points:

Firstly the figure of £10m+ was stated as being current, not at 30th June.

Secondly, Stockbridge stated that he still expected the figure to be basically the same when the results are issued in a few weeks time.

Thirdly, I am paying my 3 STs on the 4 payment option. There is no way that RFC receives all the money up front because the payment comes out of my credit card account. They only get the money on the due date for each payment. I have not signed a credit agreement which is where they may receive all the money up front and the ST holder pays back the credit company.

So you are saying that the figure quoted last night was "live" ie accurate yesterday, but that the results, a snapshot from 30th June, would show the same number?

[Faircity 186]

...Lets wait and see the accounts before panic sets in...

[JCDBigBear 10,860]

So you are saying that the figure quoted last night was "live" ie accurate yesterday, but that the results, a snapshot from 30th June, would show the same number?

No, he said we had £10+m right now (30th June wasn't mentioned) and he said he expected we would still have that amount in the bank in a few weeks when the accounts are released.

[daviecooper01 826]

But that is meaningless. The accounts concern the state of play on 30th June. Saying we had 10m now, as well as in a few weeks, is both reckless and has no correlation to the accounts.