bawsburst 1,381 Posted October 12, 2013 Share Posted October 12, 2013 As title rather different to the scum/depress/rhebel, though britney does put the boot into king in another article in the gherald. Rangers will be down to last £1m by AprilRichard WilsonSports writer Saturday 12 October 2013BRIAN STOCKBRIDGE, the Rangers finance director, has revealed that the club will only have around £1m of its cash reserves left by April.The figure does not take into account revenue that will be generated by Rangers Retail, and it is at the time of year when clubs are traditionally at the low point of their financial cycle, just before season tickets are put on sale, but the projection emphasises the tight margins the club is operating within.Stockbridge revealed that April next year would be the low point for Rangers' cash balance - which the annual accounts last week revealed was £11m at June this year - during a question-and-answer session with representatives of the club's three main supporters groups.The meeting was also attended by Craig Mather, the chief executive, and addressed a number of issues, including the £5.6m costs associated with bringing investment in through selling shares, the remuneration packages of the executives and the forthcoming annual meeting."[in] April next year, we will have over a million plus; we will also have an optional unsecured facility provided should we need it," said Stockbridge. "[Rangers Retail] figures are ahead of budget. I can't give price sensitive information, but we and Sports Direct are absolutely happy with the results this year. We will extract profit by dividend whenever we want."[The] pre-IPO fees are high, [it was a] large cost to secure the club - at time of acquisition there was no licence to play football and it was risky private investment and that attracts high costs. [The] fees paid were commensurate with normal legal and professional fees but the other costs were high. I came in on 14th June by which time these costs were already fixed."Stockbridge was also asked about share capital return payments to investors such as Eurovestech and Alan Mackenzie. "There were no illegal returns of capital," Stockbridge said. The finance director also admitted that "with hindsight, I should have been rewarded for financial performance not football", after receiving a 100% bonus of £200,000 for Rangers winning last season's Third Division title. He has now "voluntarily agreed to remove" that bonus payment.A Court of Session hearing on Monday will judge whether or not shareholders seeking the appointments of Paul Murray, Malcolm Murray, Scott Murdoch and Alex Wilson to the board will be allowed to include those nominations in the annual meeting's order of business. The current board had blocked those nominations after claiming they were not made validly, which Mather defended, before confirming that he would like to see the return of Dave King, the former Rangers director who has also offered to provide investment."I'm not against [new directors being nominated] but we have to do things legally and properly," said Mather. "I'm happy to add to the dynamic on the board. Dave King rang me and I was happy to meet and talk. [King] is not part of any team or conspiracy - he's an individual who cares about Rangers. We had two days of very positive discussions with him and working with the existing team."The two executives also pledged to clarify one of the resolutions contained in the order of business for the annual meeting, with Resolution 9 seeming to allow directors and employees to make a loan which would then be converted into equity at a nominal value of 1p per share, essentially meaning that for an investment of £66,000, they could receive 6.6m shares.We will pass that on to our lawyers," Stockbridge said, "and look at having that reworded as that is not what is intended by this resolution." Quote Link to post Share on other sites More sharing options...
Poetry_In_Blue 1,043 Posted October 12, 2013 Share Posted October 12, 2013 Absolutely nothing new there, it's just been lifted from the official minutes, also if I remember from the minutes I think I remember Mather saying he would have welcomed Blin being on board, a sentiment I believe was shared by quite a few on here. Quote Link to post Share on other sites More sharing options...
bawsburst 1,381 Posted October 12, 2013 Author Share Posted October 12, 2013 Absolutely nothing new there, it's just been lifted from the official minutes, also if I remember from the minutes I think I remember Mather saying he would have welcomed Blin being on board, a sentiment I believe was shared by quite a few on here.The point is Wilson has reported as said, not spun something that didn't exist. Blin is not on the flawed list at the CoS he walked as you will recall. Quote Link to post Share on other sites More sharing options...
NixonRFC 1,611 Posted October 12, 2013 Share Posted October 12, 2013 Wilson always reports with integrity, sometimes some don't like his opinion but he always reports with a clear conscious in my opinion Quote Link to post Share on other sites More sharing options...
Young Bob 1,360 Posted October 12, 2013 Share Posted October 12, 2013 Wilson always reports with integrity, sometimes some don't like his opinion but he always reports with a clear conscious in my opinionBest reporter in the country at the moment. Quote Link to post Share on other sites More sharing options...
Dutchy 1,200 Posted October 12, 2013 Share Posted October 12, 2013 Wilson has done what a reporter should do and reported the facts. Good on him. Quote Link to post Share on other sites More sharing options...
JMorrison1872 320 Posted October 12, 2013 Share Posted October 12, 2013 Richard Wilson is the single reporter who consistently writes article on truth and accuracy.Take my hat off to the guy Quote Link to post Share on other sites More sharing options...
Muirheadbear 1,483 Posted October 12, 2013 Share Posted October 12, 2013 Just love all the Charles Green fans who keep praising him for putting HIS money where his mouth was! Big mouth alright but not his money! All Craig Whyte had to do was ban the BBC and the fans flocked. All Charles Green had to was hate the SFA and the fans flocked again! F...n easy making money out of Rangers. Quote Link to post Share on other sites More sharing options...
StublueKPL 524 Posted October 12, 2013 Share Posted October 12, 2013 Just love all the Charles Green fans who keep praising him for putting HIS money where his mouth was! Big mouth alright but not his money! All Craig Whyte had to do was ban the BBC and the fans flocked. All Charles Green had to was hate the SFA and the fans flocked again! F...n easy making money out of Rangers.yawn Quote Link to post Share on other sites More sharing options...
ab4113 124 Posted October 12, 2013 Share Posted October 12, 2013 Just love all the Charles Green fans who keep praising him for putting HIS money where his mouth was! Big mouth alright but not his money! All Craig Whyte had to do was ban the BBC and the fans flocked. All Charles Green had to was hate the SFA and the fans flocked again! F...n easy making money out of Rangers.You will be sitting at your keyboard just now waving your 'sack the board flag'......Paul Murray etc just to say......... That's right nothing, but get me on the board and I will say fuck allLike the last time I was on the rangers board, but I reduced the debt from 17 million in 2007 to 31million in 2011, a w shit that doesn't look to good does it.... Quote Link to post Share on other sites More sharing options...
Muirheadbear 1,483 Posted October 12, 2013 Share Posted October 12, 2013 You will be sitting at your keyboard just now waving your 'sack the board flag'......Paul Murray etc just to say......... That's right nothing, but get me on the board and I will say fuck allLike the last time I was on the rangers board, but I reduced the debt from 17 million in 2007 to 31million in 2011, a w shit that doesn't look to good does it....How eloquent and factually incorrect. 18m was the debt dear boy in 2011 AND we won the league three years running. Just a shame that Charles found a cure for his RANGERSITIS namely a lovely villa in the south of France - you'll no hear champions league music from there but you are nearer Craig Whyte! Quote Link to post Share on other sites More sharing options...
bawsburst 1,381 Posted October 12, 2013 Author Share Posted October 12, 2013 Net debt at 30 June 2007 £16,542,000Paul Murray appointed director 20 September 2007Net debt at 30 June 2008 £21,559,000Net debt at 30 June 2009 £31,118,000Net debt at 30 June 2010 £27,074,000 (last audited accounts)Sometimes facts are annoying.How eloquent and factually incorrect. 18m was the debt dear boy in 2011 AND we won the league three years running.Enjoy if at all possible. Quote Link to post Share on other sites More sharing options...
JMorrison1872 320 Posted October 12, 2013 Share Posted October 12, 2013 Just love all the Charles Green fans who keep praising him for putting HIS money where his mouth was! Big mouth alright but not his money! All Craig Whyte had to do was ban the BBC and the fans flocked. All Charles Green had to was hate the SFA and the fans flocked again! F...n easy making money out of Rangers.Zzzzz.You sack the board clowns really are a depressing bunch. Quote Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted October 12, 2013 Share Posted October 12, 2013 How eloquent and factually incorrect. 18m was the debt dear boy in 2011 AND we won the league three years running. Just a shame that Charles found a cure for his RANGERSITIS namely a lovely villa in the south of France - you'll no hear champions league music from there but you are nearer Craig Whyte!So board members do deserve some of the credit for on field success then?Glad we cleared that up. Quote Link to post Share on other sites More sharing options...
Muirheadbear 1,483 Posted October 12, 2013 Share Posted October 12, 2013 Zzzzz.You sack the board clowns really are a depressing bunch.Charles Green isn't on the board???? Quote Link to post Share on other sites More sharing options...
JMorrison1872 320 Posted October 12, 2013 Share Posted October 12, 2013 Charles Green isn't on the board????Did I say he was?You've made it abundantly clear on here what side of the fence your on Quote Link to post Share on other sites More sharing options...
Muirheadbear 1,483 Posted October 12, 2013 Share Posted October 12, 2013 I never ever said sack the board just that Green came in went out quickly and has his pockets wadded.It's a bit like buying merchandise from the Rangers shop - the Moët stays in the club However if you buy a rangers short from the high street some of the money goes put the club.Basically I saw through Green from day one AND I know for a fact that he practically sucked up to Regan behind closed doors! Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted October 12, 2013 Share Posted October 12, 2013 Just love all the Charles Green fans who keep praising him for putting HIS money where his mouth was! Big mouth alright but not his money! All Craig Whyte had to do was ban the BBC and the fans flocked. All Charles Green had to was hate the SFA and the fans flocked again! F...n easy making money out of Rangers.All mini had to do was call himself a Rangers man, with Rangers best interests at heart, make vague promises about fan votes and blazers and FF has told all the minions to forget the damage done to Rangers by mini in the past, plus his lies about reducing the debt and his willingness to give tens of millions of our money to TicketusCan you tell us why you think that makes him director material ?They support their messiah. Forgive them for they know not why they do it. Quote Link to post Share on other sites More sharing options...
JMorrison1872 320 Posted October 12, 2013 Share Posted October 12, 2013 I never ever said sack the board just that Green came in went out quickly and has his pockets wadded.It's a bit like buying merchandise from the Rangers shop - the Moët stays in the club However if you buy a rangers short from the high street some of the money goes put the club.Basically I saw through Green from day one AND I know for a fact that he practically sucked up to Regan behind closed doors!You know for a fact, show your proof Quote Link to post Share on other sites More sharing options...
Muirheadbear 1,483 Posted October 12, 2013 Share Posted October 12, 2013 All mini had to do was call himself a Rangers man, with Rangers best interests at heart, make vague promises about fan votes and blazers and FF has told all the minions to forget the damage done to Rangers by mini in the past, plus his lies about reducing the debt and his willingness to give tens of millions of our money to TicketusCan you tell us why you think that makes him director material ?They support their messiah. Forgive them for they know not why they do it. Dave King is no fool and neither is Jim McColl. If they think a lifelong bear like Paul Murray is of value within the boardroom then that's good enough for me. Quote Link to post Share on other sites More sharing options...
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