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

[bluepeter 5,627]

What seems to be glossed over here is the Season Ticket money for 2012/2013, that money (somewhere in the region of £8-10m) would got against normal day-to-day expenditure, including salaries for staff etc

Yes, according to the figures in the Sun, it appears that the IPO money was used as general working capital ... so what's happened to the ST money for last season then?

We haven't burned through £22m, we've burned through over £30m in less than a year ... to clarify £30MILLION ..... in less than a year !!

But we have >£10m in the bank...

[CalvinC 1,414]

My futile brain is fried with all this.

[Young Citizen 7]

The quicker the people wake up to Charlie boy the better.

[Brick54 15]

.

[davidcooptemp 29]

Unimpressed so where has all the millions went.? Questions need answering.thats fans hard earned money.

[TravelingWilBEARy 4,319]

I don't know much about finances and so on and, unlike a lot of people on here it seems, I'm not going to get angry about something I don't fully understand.

All this hysteria is a bit much, no?

[SE5 107]

who audits our accounts?

McGillivan and Partners, KDS.

[Bertent 2,081]

who audits our accounts?

Charlotte Fakes and Phill names the failed social worker

[BLUEDIGNITY 33,676]

who audits our accounts?

The Blind Asylum if the sun are to be believed !

[WillWard 6]

Can we all just calm down and wait for our accounts to be published? If we let the scum media drive the agenda on here there'll be nobody left to debate the numbers when the club actually publishes them.

[Guardian 4,281]

Green and the board are being lambasted for apparently making £22m disappear, yet some deluded individuals want Paul Murray in after he made £25m disappear,

[Reformation Bear 6,453]

The speculation is worrying, no doubt about that. And no doubt it helps to sell newspapers. And even less doubt that it adds considerable fuel to those who just want to have a go at Bears every day at work or in pubs.

The facts on what has been spent will come out in the accounts now (apparently) to be published in August. A good quality commentary by the Board needs to come with the accounts so that the spending, and reasons for it and the value the spending produces is crystal clear in plain language with no room to misinterpret. Same goes for information on firm revenues not yet received and for planned revenues in this next FY that the Club intends to translate into firm cash received. For instance, we've heard a lot over the last year about how income from media rights is to be improved (JT's territory). So time to spell out in £ terms what revenue streams and when do they start to appear. In short, maybe more than any other Board at any football club, and maybe more than for many companies in general, the Board need to deliver a stellar communication exercise to explain the accounts, the spending and investment decisions, the future commercial revenue plans, plans for cost cutting, and plans for future inward investment in Janet and John terms that are utterly convincing. Falling short on that would be doing themselves or their futures as credible Directors absolutly no favours whatsoever. Supporters - as well as investors - are in my view now entitled to need to be convinced by the Board that it is credible and is taking all the right financial decisions for all the right reasons. If they cannot do that, or won't do that, then even if the details should in all reasonableness put this wretched finances debate and the media - firmly back in their respective boxes, then they may need to consider their positions. This may be as much about being seen and believed by Supporters and investors as being people fit to have stewardship as it is about the facts of financial management. The benefit of doubt looks to be ebbing away from them so it down to them to show their CEO/FD/Director leadership qualities.

As for the General Meeting requested by Murray so that a vote can be taken to sack Mather, Stockbridge and a NED I still haven't seen anything from the Murray camp that sets out in positive terms why they berlieve people should be sacked or anything in positive terms about why they are the better alternatives and what they would do differently in running Rangers. That said, from the reported statements last Thursday it still seems to me that Mather and Stockbridge and the Board are looking to do a deal with Murray and avoid a GM and the contest about who is to be sacked and who is to join the Board. I still expect to hear an announcement that they've come to a deal but, like so much of the posts right how, that's just my speculation.

[SteveJ 743]

Given that Rangers spend about £50M a season in SPL years and we had a start up first year that figure isn't too bad.

What did we have to buy as a start up? One business sold our club and its assets to another business. Liberty Global just bought Virgin Media - does that mean VM are a start up this year?

Losing £22m in 8 months is a bloody joke but what people are forgetting is that other investments took the investments to over £30m, so if all we have left is season ticket money and the Sports Direct million, we have spent £30m+ in 8 months.

[Rapid6 77]

WAGES

It's jobs for the boys and the supporters will fund their lavish lifestyle!

We are fucking mugs and the board know it - All in the name of the Rangers.

£10m in wages for a club in the 3rd division, in a country where the game is dying on its arse, Reality check required folks?

[Spacecowboy 92]

people being astounded that investment is being spent is astounding in the first place.

we cant keep the money in the bank when we have debts / bills to pay.

Once the accounts are filed then and only then can the questions of where the money went and why.

We cant expect our board to detail week in week out where the money is going and how much we have in the bank.

If the money is going to the right places for the right reasons, we as shareholders can ask the questions and make the changes required

[Young Citizen 7]

How any rangers supporter can back Charles green is beyond me.

[Blade 38]

I wasn't there on Thursday but spoke to a few guys who where and they said Stockbridge fills them with dread. One even commented you could see he was uncomfortable

Shifty maybe.

[sergio 1,199]

I told you ..... Ticketus took a very large wedge of that money .... of the 22 Million, they got around 7 in the shape of bonuses paid to Green etc, they are all in it,

The revelations that D&P wouldn't sell to anyone else but CG should tell us all something, ......

[Craigferguson 56]

what is the actual breakdown of 22 million spent?

also the 10 million he is saying is left is that this seasons sales of tickets and merchandise?