Minico Must Now Back Off

[elephants stoned 2,994]

Whilst i heartly agree with the op we all know they wont back off, if anything todays accounts will galvinise them into more of a frenzy as they try to repair the damage done to their cause, expect things to get worse bears as the AGM approaches the smear tactics and lies will continue from minico but we now see their main argument of admin2 is disapearing what will they do next?

[Young Bob 1,360]

Whilst i heartly agree with the op we all know they wont back off, if anything todays accounts will galvinise them into more of a frenzy as they try to repair the damage done to their cause, expect things to get worse bears as the AGM approaches the smear tactics and lies will continue from minico but we now see their main argument of admin2 is disapearing what will they do next?

I think they have to go down the refinancing route. I wonder if they are capable of generating this though. Cant see McColl putting money in.

I still wonder what Kings up to. Cant see him financing a Murray move but he will return at some point.

[boss 1,941]

It is clear that with current operating expenses and no credit line we will run out of funds very soon

As mentioned on the other thread where you posted this, you are talking nonsense. It doesn't matter how many times you post it, it's still nonsense.

[five stars 1,740]

As mentioned on the other thread where you posted this, you are talking nonsense. It doesn't matter how many times you post it, it's still nonsense.

Ok Boss, tell us in your estimation, how much will we have in the bank come May?

[JR 1,480]

The tactic of trying to force thru wholesale board changes prior to the release of this information, always struck me as suspicious. I tried and failed many times to get clarity from Murray/McColl supporters as to why they should receive our backing, and now (although I confess I'm no financial whizz-kid) it seems my suspicion was somewhat justified.

I'm sure there will be some attempted face-saving nonsense being prepared as we speak to spin these figures to suit doom-mongering agendas, but if I'm honest, I think we are exactly where I thought we would be financially.

I'm relatively happy with what I've read and understood so far.

[elephants stoned 2,994]

I think they have to go down the refinancing route. I wonder if they are capable of generating this though. Cant see McColl putting money in.

I still wonder what Kings up to. Cant see him financing a Murray move but he will return at some point.

If Dave King wants to invest in Rangers then brilliant but things must be done, the right way not like McColl and Mini with their something for nothing ethos.

[Young Bob 1,360]

If Dave King wants to invest in Rangers then brilliant but things must be done, the right way not like McColl and Mini with their something for nothing ethos.

Im with you mate. If King had driven for board change rather than McColl/Murray I would say he would have had a far better chance of succeeding as most fans see King as the guy who puts his money where his mouth is.

[boss 1,941]

Ok Boss, tell us in your estimation, how much will we have in the bank come May?

Wow, hard question!, by 30 June 2014 I'd go for at least £4m-£6m subject to transfers in/out and anything else coming out the woodwork. But that's a wild guess without far more info!

[MaddistonKnight 1,572]

Ok Boss, tell us in your estimation, how much will we have in the bank come May?

I am kind of surmising from what you've written you are not a fan of the current board. Fair enough.

You've also been saying you expect us to run out of money very soon. Again fair enough, you might be right.

But on what are YOU basing this assertion. We have had the season ticket sales, income from the new strips (I don't know details of the deal, but we must be making cash from this), the Blackthorn deal since the date of the accounts, opened a bar, so that's money coming in. We won't have the one off payments made over the last year that are in the accounts. McCoist, and possibly others, have taken wage cuts. The team wages are down overall.

So please, tell me what you are basing your thoughts on. And tell me why someone else in charge would make any difference.

[Guardian 4,281]

I am kind of surmising from what you've written you are not a fan of the current board. Fair enough.

You've also been saying you expect us to run out of money very soon. Again fair enough, you might be right.

But on what are YOU basing this assertion. We have had the season ticket sales, income from the new strips (I don't know details of the deal, but we must be making cash from this), the Blackthorn deal since the date of the accounts, opened a bar, so that's money coming in. We won't have the one off payments made over the last year that are in the accounts. McCoist, and possibly others, have taken wage cuts. The team wages are down overall.

So please, tell me what you are basing your thoughts on. And tell me why someone else in charge would make any difference.

SSSSHHHHHHHH !!

You're not supposed to mention positive items on the balance sheet.

Also, I keep hearing numpties talking about how much we are losing a month. They almost invariably include the first months when we had a lot of startup costs which totally stuffed the average.

However much they try and spin todays figures, it is plain Minico are proven liars using bears fears to try and get aboard.

Fuck them for that alone, never mind their other activities.

[five stars 1,740]

Wow, hard question!, by 30 June 2014 I'd go for at least £4m-£6m subject to transfers in/out and anything else coming out the woodwork. But that's a wild guess without far more info!

It is hard to estimate without all the figures. But we can make the best estimate with the figures available.

Lets presume no transfer fees in or out for the minute. With what we know we had 7 million in the bank before any season ticket money (the 11.5 million in the bank included 4.5 million which had already been collected).

If as you suggest we will have around 5m left in the bank come end of season that will mean we have to reduce our losses from 14m down to 2m this season. This is highly improbable even with some cost cutting and an increase in merchandise/sponsorship. I admire your optimism but after Craig Whytes tenure mines shot.

[Guardian 4,281]

So now have transparency.

To sum up

We won't be bust by Xmas

All the Money isn't gone

The directors have not trousered it all

There does not seem to be much evidence of any financial mismanagement some things could be better but the company was built from scratch.

The assets gave not been sold for leaseback

Therefore all the investors concerns should now be at ease and calls for minico to get involved should be binned.

That is, after all, what they claimed they were after.

Even mini said he would walk away if the club was being run properly.

Will he stand by that ?

Or will he just jump on another potential investors coat tails ?

Surely they must realise by now this nasty conniving litle man is absolutely toxic to any attempt for power at Rangers.

The silly fools over on FF also need to take a look at themselves and stop being so easily manipulated by the likes of mini.

Did they really think he would deliver on his promises once he was aboard

More likely it would be "sorry guys I'm only a powerless non exec and the rest of the board ain't going for it" shrug shrug

(sound familiar ?)

[boss 1,941]

It is hard to estimate without all the figures. But we can make the best estimate with the figures available.

Lets presume no transfer fees in or out for the minute. With what we know we had 7 million in the bank before any season ticket money (the 11.5 million in the bank included 4.5 million which had already been collected).

If as you suggest we will have around 5m left in the bank come end of season that will mean we have to reduce our losses from 14m down to 2m this season. This is highly improbable even with some cost cutting and an increase in merchandise/sponsorship. I admire your optimism but after Craig Whytes tenure mines shot.

No, your numbers don't add up. Put (very) simply if we half our losses (i.e. say £7m next year) that would eat into the £11m we have in the bank.

(You can adjust to reflect cashflows rather than profit but you end up at the same place.)

[Allanger 625]

On the back of the reasonable accs the board must work tirelessly to generate some blue chip sponsors for next season.

Oops sorry, wrong thread.

[five stars 1,740]

No, your numbers don't add up. Put (very) simply if we half our losses (i.e. say £7m next year) that would eat into the £11m we have in the bank.

(You can adjust to reflect cashflows rather than profit but you end up at the same place.)

I am very simple Boss, so do the figures for me please. 11 million in the bank plus the rest of the season tickets money (about 4m) plus all other income minus the 30m it costs to run the club a year = 5 million left in the bank??

[boss 1,941]

I am very simple Boss, so do the figures for me please. 11 million in the bank plus the rest of the season tickets money (about 4m) plus all other income minus the 30m it costs to run the club a year = 5 million left in the bank??

Close. Not saying the numbers will work out like this, but perfectly possible.

£11m in the bank

+ £10m tickets/hospitality (*1)

+ £9m other income (*2)

- £30m costs (*3)

+ £5m 2014/15 season ticket money (*4)

= £5m in the bank at 30 June 2014

*1 giving a total of £14.5m compared to £13.2m

*2 compared to £6m

*3 compared to £34m

*4 compared to £4.5m

[five stars 1,740]

So let's say you figures are correct and we increase income by about 4 million and are able to decrease spending by around four million. How much cash will we have in the bank at the end of the season not including the following seasons season ticket sales?

And let's also estimate how much cash we would have if say for instant we are only able to reduce costs by 2 million and increase income by 2 million??

[five stars 1,740]

I am kind of surmising from what you've written you are not a fan of the current board. Fair enough.

You've also been saying you expect us to run out of money very soon. Again fair enough, you might be right.

But on what are YOU basing this assertion. We have had the season ticket sales, income from the new strips (I don't know details of the deal, but we must be making cash from this), the Blackthorn deal since the date of the accounts, opened a bar, so that's money coming in. We won't have the one off payments made over the last year that are in the accounts. McCoist, and possibly others, have taken wage cuts. The team wages are down overall.

So please, tell me what you are basing your thoughts on. And tell me why someone else in charge would make any difference.

I am basing my assumptions on the fact, to put it simply, we spend more money than we earn. We might have enough to get us to the end of the season but at some point we are going to have to raise more capital or have major cut backs.

[Allanger 625]

Everyone has always been of the opinion that we would have to raise further funding. That is not a stick to beat the current board as it would apply irrespective of who was in charge

[weshallnotbemoved! 714]

I would like to see the management team and directors renegotiate their wages and bonuses.

Yes all the costs and accounts may add up but its whether these costs are giving value for money or are proportionate running costs and not overinflated i.e. how much loss could we mitigate if we spent less.

If the board could tighten that up then fair enough.

Next year will look much better as there will be less residual one off costs.

[Guardian 4,281]

The board, and any other have to contend with running a big club in the lower leagues with no european money.

Not to mention supporting Ally rebuilding the team and the many commercial challenges. These commercial ventures cost money to startup and take a while to start generating cash.

Meanwhile we have a bunch of troublemaking assholes spreading doubt, smearing the board and filling the press with lies about the board.

It's no wonder these elements wanted the board swept away quickly and themselves in, before the accounts came out.

Now that we have some clarity, and the troublemakers have been unmasked, maybe, just maybe, fans will realise who was manipulating them and get behind the board in a more united manner.

We have allowed the tims to stand by and have a good laugh as we tore ourselves apart in civil war. It's time to move on, stop doing their work for them, and focus our attention on getting back to our rightful place.

The clowns have gone, let the circus be over.