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Back Page of The Sun - Gers £22m Is Gone


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Right now for me, becuase of the lack of clarity..it's down to faith.

I am putting my faith in the team that has helped bring us back from the brink, secured us the CLEARLY much needed 22 million investment, and basically delivered on almost all the things they said they would.

I had egg on my face before with whyte, and i might end up having it again, but i am ever the optimist and that's how i feel.

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We need to take drastic action to be honest.

Last year we sat about thinking the worst couldn't possibly happen to Rangers, we thought we were untouchable. Lightning can't strike this club twice.

Honestly believe fans need to take a direct approach to the club & this will sound mad, but storm Ibrox, Storm Auchenhowie. Reach out and demand answers.

We can't sit on our arses till' last minute again.

Those unfit for running Rangers, and those not trusted even 20% should be either removed from the club, or forced out.

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Right now for me, becuase of the lack of clarity..it's down to faith.

I am putting my faith in the team that has helped bring us back from the brink, secured us the CLEARLY much needed 22 million investment, and basically delivered on almost all the things they said they would.

I had egg on my face before with whyte, and i might end up having it again, but i am ever the optimist and that's how i feel.

Fair play to you gogzy (tu)

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I fear we may be up the shitter again. Words fail me.

The first 7 months of trading saw us rack up £16.6m in expenditure and that was just the first 7 months of the financial year. We had revenue of only £9m for the same period resulting in a £7m operating loss. With the directors ridiculous salaries, which they should be shot for, and the unnecessary wage bill of £7m for the players alone and other stuff our costs for this year will be way beyond the £20m mark.

What the board seem to have done is splashed money clearing up the mess. Whyte mortgaged off everything he could which deprived us of income whereas Green & co. appear to have restructured everything. They've spent £2.8m repaying football debts, they've spent probably £2m on the contracts that were mortgaged off, they've spent £750k on Ally's contract, they've spent god knows how much on directors salaries - probably over £2m when you add it up with bonuses etc, they've spent round £2m+ on releasing Boca, Goian and Sandaza when it would have been wiser to sell them, they've spent £1m on the investigation into Green's conduct, they've spent money on WiFi, the big screens and god knows what else. Add all that up, including Albion and Edmiston House at £2-£3m, annual wage bill of £7m and somewhere around £3m in total for the management and coaching staff, the cost of operating Ibrox and Murray Park etc you're looking at possibly even reaching £30m in costs after revenue is taken in.

That is staggering.

This is Stockbridge's statement in the interim results following the IPO, I've put in bold the points to note and keep well remembered ahead of the latest set of accounts:

With all that said, and what was said at the fans meeting, we will soon see if the truth has been spoken. I sincerely hope they carried out a lot of maths work before excessive purchases and they know deep inside that this was going to happen and it won't affect the club.

One way to look at it is from now until January we will bring in around £10m+ as well as more money from Puma etc, as well as the new kits which have just launched. However, costs do need to be severely cut if we cannot raise our revenue but as the days and weeks roll on it is increasingly likely we require new investment already which makes me extremely angry. Either Mr. Green better get out there and seek that investment ASAP or him and his cronies can fuck off for good.

Difficult to understand your position with Mr Green.........are you saying he should you still think he is ok for Rangers??????

Brian Bowman

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We need to take drastic action to be honest.

Last year we sat about thinking the worst couldn't possibly happen to Rangers, we thought we were untouchable. Lightning can't strike this club twice.

Honestly believe fans need to take a direct approach to the club & this will sound mad, but storm Ibrox, Storm Auchenhowie. Reach out and demand answers.

We can't sit on our arses till' last minute again.

Those unfit for running Rangers, and those not trusted even 20% should be either removed from the club, or forced out.

Then what?

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Fair play to you gogzy (tu)

Thanks mate, I am close to the end of my tether with it all though. If a new consortium were to come in right now to buy us, that had nothing to do with whyte,green,murray...I'd welcome it with open arms.
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He tells the paper very little, and you do have to wait. I know it is frustrating and my view is that we are being used as pawns to allow others to push their agenda. Because of everything that has happened, we are likely to panic quicker, we need to remain calm and see the figures, until then we don't know.

Who is the we that need to remain calm??? What bit of 22 million gone dont you get...........its gone

Brian Bowman

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Thanks mate, I am close to the end of my tether with it all though. If a new consortium were to come in right now to buy us, that had nothing to do with whyte,green,murray...I'd welcome it with open arms.

We can hope.

An end to it all and just the club as a whole moving forward, it's the dream.

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Difficult to understand your position with Mr Green.........are you saying he should you still think he is ok for Rangers??????

Brian Bowman

Charles Green said yesterday, in an article, that Rangers do not need further investment and if it became the situation where we most definitely need it then he could secure £10m of investments tomorrow. What I'm saying is that day looks like it will be coming around sooner rather than later so if he's up to the job now is the time to perform, and if not then now is the time to leave.

Then again, I've said all along he has an investment to protect and should we be hit with administration he and all the other investors in his consortium etc will lose their investment which is a lot of money. Nobody wants that.

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We can hope.

An end to it all and just the club as a whole moving forward, it's the dream.

Yup, and you know what? If Minico does win this tug of war, I will get behind them and give the every chance to prove me wrong, and show that they are not just in it for themselves too.
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