bt sport craig mather

[JCDBigBear 10,830]

Actually, that's what's left from TWO years if ticket sales (£20m), pre IPO money (£10m), IPO money (£22m) ... but the board are fine !!!

Do you have the total income figures since July 2012? No, I didn't think so.

Have you any idea whatsoever of what expenses we have incurred since June 2012? No, I didn't think so.

How can you comment with any certainty without having the necessary facts? You can't, I thought as much.

[Carsons Dog 9,878]

So, according to Mather, McColl was misquoted in today's DR article, McColl contacted Mather to confirm this.

Teach the cunt to give interviews to Bheasts

Maybe some bloggers will learn a lesson from this

[ForeverBlue_Since91 2,895]

Who does our accounts? And when are they out?

[ForeverBlue_Since91 2,895]

Teach the cunt to give interviews to Bheasts

Maybe some bloggers will learn a lesson from this

Maybe he didn't and they have picked / edited quotes from elsewhere?

[JCDBigBear 10,830]

I think the end of the financial year for Rangers is 30th June which would be even better as it would mean all last seasons costs incurred but no ST money for this season in the figure. What worries me is Stockbridge is meant to be the CFO but when has quoted this figure he gave no clarity which was at the best poor communication and at the worst he did not actually know.

Stockbridge's problem was a lack of foresight to the type of questions he was asked by people without a clue in the first place. He isn't likely to be out of his depth in accountancy but he was definitely out of his depth dealing with football fans at an angry Q & A. I doubt he will be as ill-prepared at the AGM. He certainly shouldn't be.

[Non_Sucumbi 876]

Stockbridge's problem was a lack of foresight to the type of questions he was asked by people without a clue in the first place. He isn't likely to be out of his depth in accountancy but he was definitely out of his depth dealing with football fans at an angry Q & A. I doubt he will be as ill-prepared at the AGM. He certainly shouldn't be.

Stockbridge may well be governed by Stock Broker rules and regulations as to the answers he can actually give especially direct answers involving financial status. A mis-quote here or there could see share prices rise or fall dramatically. A few weeks and we'll have a clearer view when the accounts are published.

[lutonblue 1,974]

When are the accounts out?

mid September mate

[tam57 698]

Why don't we ask a bheast about our accounts they usually know more about them than us.

[Jimfanciesthedude 24,556]

The £5.5M was repaid in last years audited accounts, along with the footballing debts.

can you show me last years audited accounts?

[Jimfanciesthedude 24,556]

Wait, so you're saying Green and Co didn't actually put in the £5.5m to buy the club?

Genuine question?

the fronted the money to buy the assets and stated it was a loan to the club paid back at a specific time, now getting 22mill from an IPO would be as good a time as any seeing as its cash sitting there

also the original investors covered the players wages before the newco began, think it was a full 2 or maybe 3 months wages they had to pay once the wage cuts the players took finished

at the time of the newco being formed i think a few had worked out the original group had spent between 10 and 15mill on the club (5.5 was the loan)

[woodvale1690 43]

ffs woodvale still here

hes a CUNT not a rangers fan.

there has been many before him but i decided to target him

i c you missed the 1690 bit, do you have a problem

[woodvale1690 43]

Great response, happy to dig at people but not willing to debate the points.

Ahh well, back to the game

i aint diggin, dont have to when so many on here dig them selves into a deep hole

[SteveJ 743]

can you show me last years audited accounts?

They were debated at length on here, pre-season. I am not going to search for the thread or the document, as I am on the tablet.

Edit: before people ask what tablet I am on, two co-codamol for the hangover too.

[woodvale1690 43]

Who does our accounts? And when are they out?

24k posts and you dont know when the accounts are out, mid sept according to almost every thread and media source known to a rangers fan

[Turnberry18 3,204]

Guys, what did you expect him to say? Did you expect him to say the fans fears are right and the club is losing money too quickly?

He told us what we already knew, with only one apparent fact being confirmed and that was the extent of the players wage bill being reduced. We knew it had, but we did not know by what extent - we now know it is £1m less this season.

He said his goals were to improve the squad and reduce the wage bill. Considering we had players on mega bucks deals last term and a barebone squad, how was it difficult to achieve these two goals?

Fair play for speaking on TV though.

Or he could have not said anything at all. Mather looks to be a good guy, and should be given respect.

[SteveJ 743]

Or he could have not said anything at all. Mather looks to be a good guy, and should be given respect.

He is trying to keep his job and if he gets fans on his side, he stands a far better chance of doing that.

I am not going to say whether he is good at the job or not, as I don't know him and don't know what he does on a daily basis. I do, however, realise when certain actions are forced upon someone and this was one of those occasions for Mather.

[Turnberry18 3,204]

He is trying to keep his job and if he gets fans on his side, he stands a far better chance of doing that.

I am not going to say whether he is good at the job or not, as I don't know him and don't know what he does on a daily basis. I do, however, realise when certain actions are forced upon someone and this was one of those occasions for Mather.

If that was the case, and I don't exactly concur, then he handled it fairly well.

[SteveJ 743]

If that was the case, and I don't exactly concur, then he handled it fairly well.

He came across very well, apart from the accent :-)

If I am honest, my respect levels went up a notch for him but it has not made me think he is the man for the job; long term.

[Reformation Bear 6,453]

Craig Mather, Brian Stockbridge and the Board of Directors will indeed have some explaining to do when the accounts are published - now apparently in Sept (my recollection of the messages from the Mather / Stockbridge Ibrox town-hall meeting a few weeks ago was that they were be published early, in August). The wait will be over soon. And then proper analysis and debate can take place of what has been spent, what is left, what is still to come in, and the performance of Directors. And if they are judged to have fundamentally failed in their privileged role of stewardship of Rangers then they will doubtless be held to account with the consequences that follow such failure. But they will still have some explaining to do. For instance here is a quote from the interim results at the 7 month point:

Financial Highlights

Revenue of £9.5m

Operating expenses of £16.6m

Loss before non-recurring items and finance costs of £7.0m

Profit before tax £9.5m driven by non-recurring release of negative goodwill of £20.5m

Investment in football personnel of £1.6m in line with strategy

Finance leases of £1.9m at 31 December 2012

Cash of £21.2m as at 31 December 2012

Undertaking of debts of former Rangers Football Club plc of £2.8m (£251,000 remains to be paid in accordance with the terms agreed)

£16.6m operating costs in 7 months is £2.37m per month (equivalent to £28.5m in a year). Even if the executive team has managed to shave some more savings it still looks like a big question remains about the scale of operating costs going forward vs the amount in the bank plus whatever is to arrive from shirt deals and Blackthorn. Savings might include no COO salary now that Mather is CEO and the COO post seems to have vanished; no Commercial Director salary now that Ahmad has gone and not been replaced; no chief scout so saving a salary there; Lindsay Herron left (I think) - not clear if he was replaced but if not then saving a salary there; players left and others arrived - think there is a net saving there. Even if they have got operating costs down to (say) £20m for the financial year 01 July 13 to 30 June 14 and if - as Mather confirmed on TV last night - there was £10m in the bank on 30 June then it had best be a very good, solid, verifiable explanation from the Directors when the accounts appear as to what funds will arrive (contractually certain and bankable and prospective).

So when he was asked on TV about what was in the bank and the state of funding was his answer good? Not in my book. Confirming what has already been said at the town hall meeting was, well, old news. As a CEO he missed the opportunity, or did not take it to make it crystal clear that the amount in the banks is only part of the equation. The other part is the revenue to arrive to supplement that to more than cover the (reduced) costs of operating the Club. Had he been able to say - even without giving out numbers - that the Club has revenue streams that are certain, sustainable and will more than cover the costs of running Rangers. And then add that that is what he meant when he said recently on Rangers TV that the Club was living within its means. Hhe was given plenty of space and opportunity by the interviewer in a non-hostile interview to make a much clearer and more reassuring statement than he managed. That illustrates to me that he was insufficiently prepared to exploit that golden opportunity to set out a much clearer statement and so for me is was not a performance that inspired much confidence in his credentials as a CEO.

I would still like to know who else applied for the CEO job because if Craig was the best candidate for that role then I find that concerning. That said, he is the CEO and he needs to do the best he can. I have no doubt he will try but I sure do hope Rangers can find a top quality Chairman vastly more commecial and City experience because I suspect that for Craig Mather go grow into the role and flourish then he will need a more experienced Chairman to provide the experience I think he lacks.