As there is so much concern with what we have spent would someone...

[mclovin9091 1,388]

be able to clarify?

One off purchases/payments: would easily come to £23 million that we should not have to spend again

Edminson House+Albion car park (£2.4M), WiFi installation, 3 players pay off, old football debt, new player sign on fees

Running costs: rough guess at about £2 million a month incld.

Ibrox Gas+ leccy and Ground maint, Murray Park gas + leccy and ground maint, non playing staff wages, catering costs for Ibrox +MP. players+coaches wages. (TheAlukoman)

stupid bonuses/payments for arseholes out for themselves: over £3 million

So in a year that would be £53 million going out of the club of which about 45% should not happen this year (Jul-Jul).

Any other big spends i have missed out only goes to show the amount of money required to be brought in.

Its not cheap running a football club regardless of what league you are in. Plus could we leave out any (insert persons name) is a total twat and has no regard for (insert thing) please?

[mclovin9091 1,388]

Having looked at the interim results it looks like the one off payments/purchases would total £23 million another £8 Million on top of the £15 i thought.

Till December we only made a £9.5 Million profit and thats including the share issue and last years ST money. So to get from then till now and have over £10 Million says to me that they are not only including this years ST money, the blackthorn and puma deals are in that as well.

£4.5M spent on fundrasing for the share issue. Bloody hell!

[OlegKuznetsov 10,816]

Did Green not originally state that the IPO cash was not to be used for running costs?

Has that aim been breached and why?

I am hugely uncomfortable with the high salaries and bonuses for board, executive and coaching staff. It's the same old business story. Those at the top feather their nests, agreeing with each other over their value to the organisation whilst the customers and lower staff lose out. This time, again, the Club is a victim of avarice.

[minstral 5,375]

Oleg we should make income back from the Albion Car Park, plus the Edminson Club if used right.

[clan macrae 292]

Oleg we should make income back from the Albion Car Park, plus the Edminson Club if used right.

Had some smashing nights in the club when it was a going concern.Always packed when Drifters etc. appeared also boxing nights were good.

[RFC55 109,209]

What do we reckon ED house will be used for guys and will a kind of rangers social club/pub type thing work?

[mclovin9091 1,388]

Yes im sure he did say that but it should have then been put into a different POT and not the same as any other income as it stands:

Unless the income (less the IPO) is more than the running costs then yes the IPO cash has to have been used at a minimum to pay the difference between the income (less IPO) and the running costs otherwise we would have required a loan to cover the difference, but then that means the IPO cash has been used for everything else.

This years finances may look a very bad but if you consider that £23M (my 1st point) at a minimum should not need to be spent in the next 12 months. So as long as our 'loss' this year is less than £23M a couple of Million we dont have anything to worry about,

Although that does not mean that the spending should not be looked at in order to bring the running costs down and new income avenues not though of/found.

[OlegKuznetsov 10,816]

Oleg we should make income back from the Albion Car Park, plus the Edminson Club if used right.

Absolutely.

I'm more concerned that we're overpaying personnel at the top. Club is the most important thing for all of us. Paying so much in the third tier looks like we're doing it for effect and it appears foolish.

[TheLawMan 6,240]

be able to clarify?

One off purchases/payments: would easily come to £23 million that we should not have to spend again

Edminson House+Albion car park (£2.4M), WiFi installation, 3 players pay off, old football debt, new player sign on fees

Running costs: very rough guess at about £1 million a month incld.

Ibrox Gas+ leccy and Ground maint, Murray Park gas + leccy and ground maint, non playing staff wages, catering costs for Ibrox +MP.

I have not included the playing + coaching staff in my guesstimate as this should be considerably less than 2 years ago

stupid bonuses/payments for arseholes out for themselves: over £3 million

So in a year that would be £41 million (not including player+ coaches wages) going out of the club of which over 55% should not happen this year (Jul-Jul).

Any other big spends i have missed out only goes to show the amount of money required to be brought in, but then you have the players+ coaches wages and as i have no idea how much that is could someone work out a fairly accurate price? £5 million this last year????

Its not cheap running a football club regardless of what league you are in. Plus could we leave out any (insert persons name) is a total twat and has no regard for (insert thing) please?

Our operating expenses, EXCLUDING ONE OFF NON RECURRING COSTS, for 7 months was £15.7m which pro rata would mean circa £26m per year.

These are in the interim accounts so not guesswork.

[bluenosebrad 452]

Did Green not originally state that the IPO cash was not to be used for running costs?

Has that aim been breached and why?

I am hugely uncomfortable with the high salaries and bonuses for board, executive and coaching staff. It's the same old business story. Those at the top feather their nests, agreeing with each other over their value to the organisation whilst the customers and lower staff lose out. This time, again, the Club is a victim of avarice.

This

[ritchieshearercaldow 22,190]

Buying property is money in the bank and not money down the drain

[mclovin9091 1,388]

Our operating expenses, EXCLUDING ONE OFF NON RECURRING COSTS, for 7 months was £15.7m which pro rata would mean circa £26m per year.

These are in the interim accounts so not guesswork.

Couldn't quite get my head around that part, plus i wasn't sure what it included. I have updated the 1st post.

Does that include player and coach wages?

Also on the flip side of the one off losses, we will not have a share issue every year so our income will also be down £25M. (last post changed also.)

[Chesh 28]

Seems a lot of scaremongering in gereral going on, but the first year was always going to be a drain on funds. That was a gimmie

[RFC55 109,209]

Our operating expenses, EXCLUDING ONE OFF NON RECURRING COSTS, for 7 months was £15.7m which pro rata would mean circa £26m per year.

These are in the interim accounts so not guesswork.

What was ED house bought for mate and would a Rangers pub/club be profitable?

[minstral 5,375]

Absolutely.

I'm more concerned that we're overpaying personnel at the top. Club is the most important thing for all of us. Paying so much in the third tier looks like we're doing it for effect and it appears foolish.

Agree with you Oleg.

[mclovin9091 1,388]

Yeah, but youd like to think that the guy in charge of the accounts could at least reassure us enough to stop us thinking/believing that we could be down the pan by crimbo and put a stop to the stupid comments made by some who should have a better understanding than me.

Lets say that a financial idiot (me) is not convinced and im trying to figure out all be it very roughly on here if we have wasted a lot more cash than is being let on and by fuck im sure we'll all want to know where its gone if that is the case.

[dan_ger 1,454]

Seems a lot of scaremongering in gereral going on, but the first year was always going to be a drain on funds. That was a gimmie

True, it was. Which meant it was imperative that money wasn't pissed away on things that would not return a profit. Like ridiculous wages and bonuses.

[sassaaaa 11,406]

Here we go again , loads of financial geniuses throwing figures all over the place.

It was not rocket science that the suits and their pals were in it for all they could get and they have played us all for fools.

Some of us on here knew that money would be frittered away into the pockets of the greedy work shy bastards that run the club and were shot down in flames anytime it was suggested............

[Chesh 28]

True, it was. Which meant it was imperative that money wasn't pissed away on things that would not return a profit. Like ridiculous wages and bonuses.

Agree bonus do seem to be high, it would be interesting to see how they compare to other clubs of our stature.

[RFC55 109,209]

Agree bonus do seem to be high, it would be interesting to see how they compare to other clubs of our stature.

But other clubs bonuses wouldn't be guaranteed. We're never going to not get out of the 3rd or 2nd division

[mclovin9091 1,388]

Here we go again , loads of financial geniuses throwing figures all over the place.

Yes we knew they were wanting to make a considerable profit, but all im trying to get at is are we really in the shit as much as a couple have made out simply because i dont want to wait a month sitting in limbo.

I had a similar scenario with my job this year: was told in January that i might be losing my job and had to wait 6 months to get the answer, it was horrible having to crack on as normal.

from the figures i have listed in the OP, i dont think we are anywhere near as bad as those couple are making out, Unless there is significant outgoings that no one can see yet BUT next year we could lose a lot of money especially if the bonuses continute to be paid, as there will be no share issue or new sponsorship money. The more i look at it, the renaming of Ibrox could be on the cards come the new year and may seriously have to be considered.

[sassaaaa 11,406]

Yes we knew they were wanting to make a considerable profit, but all im trying to get at is are we really in the shit as much as a couple have made out simply because i dont want to wait a month sitting in limbo.

I had a similar scenario with my job this year: was told in January that i might be losing my job and had to wait 6 months to get the answer, it was horrible having to crack on as normal.

from the figures i have listed in the OP, i dont think we are anywhere near as bad as those couple are making out, Unless there is significant outgoings that no one can see yet BUT next year we could lose a lot of money especially if the bonuses continute to be paid, as there will be no share issue or new sponsorship money. The more i look at it, the renaming of Ibrox could be on the cards come the new year and may seriously have to be considered.

We were a third division club and we should have been paying third division wages and ZERO bonuses to anyone just like other third div. clubs .

The whole thing is farcical , any business owner no matter how big knows you dont spend more than you take in !

The club has been run by crooks for years and I along with a few on here said it many times , that the cash in the bank would vanish into the pockets of the greedy nomarks who run/own the club and got slaughtered on here for suggesting it .

The fans have been duped again ..........

[simplythebest 11,453]

What's clear is that Stockbridge has created more questions than answers.

[TheLawMan 6,240]

What was ED house bought for mate and would a Rangers pub/club be profitable?

Dont know what it was bought for mate but i would have my doubts about it being profitable. Match days = Booming. Non match days = Dead as a dodo if even open. Close season = shut. Hard to run a profitable business based on that in my view.

[RFC55 109,209]

Dont know what it was bought for mate but i would have my doubts about it being profitable. Match days = Booming. Non match days = Dead as a dodo if even open. Close season = shut. Hard to run a profitable business based on that in my view.

That was my understanding although I'm sure it seem mentioned the ticket office would be going there as well?