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TheQueensEleven
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That's it, breath. Relax.

Unwarranted mass panic swept across a number of Rangers fans as the news of 15% wage cuts being offered and then rejected by players was spoon fed via the mhedia.

This was lapped up as fact, and even today is being repeated in various mhedia sources even though our CEO has spoken out about this. Graham Wallace had this to say about the so-called offer and rejection.

"The thing that is slightly disappointing is the way some people are looking at this as an offer which has been made by the club to the players – and that offer has been rejected. No offer has been made. This is more of a conceptual discussion about the possibility of some sort of reduction to see if such a plan would be supported by the players."

There is also cries of Administration II, which according to Graham Wallace, there is no immediate danger of. He rubbished the claims in a Q&A with Keith Jackson.

"There is no threat of Administration II. Categorically, there is no threat of Administration II."

Now, while I can understand some unease when it comes to reducing costs at the club, I simply can't understand why some fans thought yesterday and still think today that is a sign of impending doom.

Wallace made no secretes about it at the AGM. Costs are too high, it's something fans have been saying since we lay eyes on the accounts.

I also understand people saying players are well within their rights to not even consider this pay cut, I just want to throw something out there. According to numerous people on here, Templeton gets paid in the region of £7.5k per week. That's right, a player who is struggling to even get a game for us, is on £30k a month. Taking 15% pay cut would see him reduced to £25.5k per month. I think that's not bad for someone who isn't getting a game.

I understand not everyone is on wages like that, but you can also understand why it would be among the first areas for Wallace to seek reductions voluntarily.

As the "Spiv" talk has begun to surface already, I'd like to point out that Wallace has stated that he is looking at every pound, every contract and is evaluating everyones position at the club.

I've already seen talk of protests outside Ibrox and people on Facebook claiming they're going to boycott "seasons tickets etc", so I feel it's necessary for fans to just take a deep breath, step back and look at the bigger picture.

This is only the start. You can't harass the guy for not making cuts in other places yet, he needs to start somewhere.

Just to reaffirm why I don't believe that administration is likely;

1.) Dave King. I know, I know. His name is always getting thrown around. However, he did say he would work with the current board and he also said he'd be more than happy to invest if he felt the club needed the money.

2.) If I recall correctly, we have a debt facility of £2.5M available to us. While using it wouldn't be ideal, it would sustain us for a couple of months if needed which would more than see out our time until we get more revenue.

3.) Lee Wallace. As much as I would be disappointed if he is sold, it's a viable option that would raise enough money to more than cover a 15% cut of the players wages. He'd fetch in the region of £1.25m-£2m. Smith is employed with us for this situation in my opinion.

4.) I could be wrong on this, but wouldn't there be another share issue before they'd let administration set in?

What I'm getting at is, it's not all doom and gloom. We've been expecting cuts, and now Wallace is trying to implement these to make us financially sound. The guy has an impeccable record and should be given the time he needs, but instead he's being lambasted and called a "Spiv" by some already.

As for Nash coming in, to me it signals the end for Stockbridge. While Nash is only a consultant, to be it makes me think Wallace doesn't have faith in Stockbridge, and to the fans delight I believe Stockbridge will be a casualty of the shake-up.

Let's rally behind the board, and let them sort out the mess that we call our finances. It could be the best thing to happen to our Club in a long time!

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`2.) If I recall correctly, we have a debt facility of £2.5M available to us. While using it wouldn't be ideal, it would sustain us for a couple of months if needed which would more than see out our time until we get more revenue.`

Yet all the papers are saying we have no credit facility.I wish Rangers would pull these papers up and set them straight.

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So a load of fuss about nothing? It was only a proposal made to the players as a way of cutting cost and probably one of many proposals on the table.

I said last night I'd wait until I'd heard from the club and I wish others would do the same before posting doom and gloom comments

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That's it, breath. Relax.

Unwarranted mass panic swept across a number of Rangers fans as the news of 15% wage cuts being offered and then rejected by players was spoon fed via the mhedia.

This was lapped up as fact, and even today is being repeated in various mhedia sources even though our CEO has spoken out about this. Graham Wallace had this to say about the so-called offer and rejection.

"The thing that is slightly disappointing is the way some people are looking at this as an offer which has been made by the club to the players – and that offer has been rejected. No offer has been made. This is more of a conceptual discussion about the possibility of some sort of reduction to see if such a plan would be supported by the players."

There is also cries of Administration II, which according to Graham Wallace, there is no immediate danger of. He rubbished the claims in a Q&A with Keith Jackson.

"There is no threat of Administration II. Categorically, there is no threat of Administration II."

Now, while I can understand some unease when it comes to reducing costs at the club, I simply can't understand why some fans thought yesterday and still think today that is a sign of impending doom.

Wallace made no secretes about it at the AGM. Costs are too high, it's something fans have been saying since we lay eyes on the accounts.

I also understand people saying players are well within their rights to not even consider this pay cut, I just want to throw something out there. According to numerous people on here, Templeton gets paid in the region of £7.5k per week. That's right, a player who is struggling to even get a game for us, is on £30k a month. Taking 15% pay cut would see him reduced to £25.5k per month. I think that's not bad for someone who isn't getting a game.

I understand not everyone is on wages like that, but you can also understand why it would be among the first areas for Wallace to seek reductions voluntarily.

As the "Spiv" talk has begun to surface already, I'd like to point out that Wallace has stated that he is looking at every pound, every contract and is evaluating everyones position at the club.

I've already seen talk of protests outside Ibrox and people on Facebook claiming they're going to boycott "seasons tickets etc", so I feel it's necessary for fans to just take a deep breath, step back and look at the bigger picture.

This is only the start. You can't harass the guy for not making cuts in other places yet, he needs to start somewhere.

Just to reaffirm why I don't believe that administration is likely;

1.) Dave King. I know, I know. His name is always getting thrown around. However, he did say he would work with the current board and he also said he'd be more than happy to invest if he felt the club needed the money.

2.) If I recall correctly, we have a debt facility of £2.5M available to us. While using it wouldn't be ideal, it would sustain us for a couple of months if needed which would more than see out our time until we get more revenue.

3.) Lee Wallace. As much as I would be disappointed if he is sold, it's a viable option that would raise enough money to more than cover a 15% cut of the players wages. He'd fetch in the region of £1.25m-£2m. Smith is employed with us for this situation in my opinion.

4.) I could be wrong on this, but wouldn't there be another share issue before they'd let administration set in?

What I'm getting at is, it's not all doom and gloom. We've been expecting cuts, and now Wallace is trying to implement these to make us financially sound. The guy has an impeccable record and should be given the time he needs, but instead he's being lambasted and called a "Spiv" by some already.

As for Nash coming in, to me it signals the end for Stockbridge. While Nash is only a consultant, to be it makes me think Wallace doesn't have faith in Stockbridge, and to the fans delight I believe Stockbridge will be a casualty of the shake-up.

Let's rally behind the board, and let them sort out the mess that we call our finances. It could be the best thing to happen to our Club in a long time!

Great post! About time some people calmed down. We're well on our way and Wallace will sort out the running of the club in time for the 'Premier'

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Thanks for your positive out look, now wheres that rope!!!

Good post by OP

getting it in before the usual suspects start this repetetive shite. Dave Kings name should be banned from this board so people can concentrate on the here and now instead of praying he swoops in as David Murray 2 and becomes our sugar daddy.

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`2.) If I recall correctly, we have a debt facility of £2.5M available to us. While using it wouldn't be ideal, it would sustain us for a couple of months if needed which would more than see out our time until we get more revenue.`

Yet all the papers are saying we have no credit facility.I wish Rangers would pull these papers up and set them straight.

(tu) Extract from annual accounts (page 13).

"LIQUIDITY AND CAPITAL RESOURCES

RIFC meets its daily cash requirements using a balance of cash. Whilst it is not anticipated to be required, RIFC has access to an unsecured facility of £2.5m.

As at 30 June 2013, the Group held £11.2m of cash."

Not sure what the interest rate would be on an unsecured loan, though?

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"This is more of a conceptual discussion about the possibility of some sort of reduction to see if such a plan would be supported by the players"

To be honest that statement worries me. "Conceptual discussion about the possibility of some sort of" ?

Why was that kind of vague nonsense even admitted, never mind allowing it to be broadcast outside of Ibrox. And why was it not immediately dismissed officially. Don't forget the club is dealing with professional footballers and they're very astute and able agents here.

Very unprofessional.

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Selling Lee Wallace would be absolutely the wrong thing to do, he is our best player by a country mile and his sale alone may well result in a huge dip in season books, less people attending also equals less match day revenue, it would make no business sense whatsoever imho.

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