Rangers Accounts 2020

[esquire8 42,465]

Some posters....

[esquire8 42,465]

1 minute ago, eskbankloyal said:

Not 100% sure how they are doing it. But what celtic fans are doing is taking the combined 3 year loss of about £43m which is higher than is allowed. But it’s not as simple as that as a lot of the expenditure isn’t included such as youth academy, infrastructure & lots of other things. 

Owners of top clubs will temporarily be permitted by Uefa’s financial fair play rules to put more money into their clubs, to cover increased losses caused by football’s shutdown due to the Covid-19 pandemic.

Uefa announced a series of “emergency measures” to acknowledge that clubs competing in the Champions League and Europa League, who must comply with FFP “break-even” limits, cannot do so this season because of drastic losses caused by the shutdown.

The principles accept that clubs can make losses greater than the permitted €30m over a rolling three-year period, and that owners can cover those losses. Uefa stressed, however, that it was still committed to encouraging good financial management by clubs, and the measures were aimed only at “neutralising the adverse effects of the pandemic”: lost ticket income while matches are played behind closed doors, and the potentially major loss of some TV, commercial and sponsorship income.

The current rules, intended to encourage clubs to live within the money they make and not pay excessive wages to players, limit clubs’ maximum losses to €30m over a three-year period, as long as €25m of that loss is covered by an owner. The new measures state that the current 2020 financial year will not be assessed at all under FFP procedures, and will instead be rolled up into 2021, and the two years assessed together as a single financial period.

Uefa sources confirmed that clubs would be allowed losses in excess of €30m as long as they show this was caused by falls in revenues because of the shutdown. Clubs will be able to cope with their own increased losses however they responsibly can, including by owners putting money in, either in loans or shares. Uefa said these emergency measures were intended to “give clubs more time to quantify and account for unanticipated loss of revenues”.

The umbrella organisation Football Supporters Europe, which comprises Uefa-recognised fans’ groups across the continent including in Britain, has called for supporters to be fully engaged in processes for financial and governance reform after the crisis. Describing football’s structures as “flawed, unfair and unsustainable”, FSE said: “There can be no ‘return to normal’.”

The FSE statement, signed by England’s Football Supporters’ Association, Supporters Direct Scotland and other groups from across Europe, described fans as “the lifeblood of the game” and objected to artificial crowd noise played by broadcasters over matches behind closed doors.

“Empty stadia are a direct consequence of a public health crisis that has impacted every single one of us, and the absence of fans cannot be compensated for by a computer simulation aimed at the amusement of television audiences,” the statement said.

From The Guardian.

[The Dude 20,026]

1 minute ago, eskbankloyal said:

Not 100% sure how they are doing it. But what celtic fans are doing is taking the combined 3 year loss of about £43m which is higher than is allowed. But it’s not as simple as that as a lot of the expenditure isn’t included such as youth academy, infrastructure & lots of other things. 

They've also increased the cutoff iirc due to the impact of covid. I'm sure they've taken that into account too 🙃

[esquire8 42,465]

Good thread 

[The hustler 398]

34 minutes ago, .Williamson. said:

I am seeing the other lot saying we have spent so much that we are breaking FFP rules and need kicked out of European football

How accurate is this?

ManUtd have £500m debts . Are they getting kicked out of European football? 🤠

[Pure_Quality 3,295]

No issues with FPP as far as I can see. Pretty underwhelming results otherwise.

Not read the full notes but one caveat is we were chasing Hummell for roughly £3m for the period of the accounts and got virtually nothing. A minimum of £5m from Castore per season should be quite transformational.

[Malkytfp1 18,594]

21 minutes ago, esquire8 said:

Good thread 

Great post 

[Amato 3,016]

1 hour ago, 2nd Flute said:

Exactly mate, Morelos was our big pay day, it never happened, it won't be happening now.

Based on absolutely nothing

[Bad Robot 21,148]

51 minutes ago, .Williamson. said:

I am seeing the other lot saying we have spent so much that we are breaking FFP rules and need kicked out of European football

How accurate is this?

A beast was texting me a tax man meme two days ago and now I know it was this. What a sad fuck who knows more about our accounts than me, the publishing date anyway. This isn’t normal rivalry, there’s definitely something unhinged about them. Helicopter Sunday and our other great days has certainly affected them mentally. It really is bizarre and a serious mental health issue.

[markem 7,251]

56 minutes ago, .Williamson. said:

I am seeing the other lot saying we have spent so much that we are breaking FFP rules and need kicked out of European football

How accurate is this?

Absolute boz. We were well shy of the 3 year operational loss required in previous 3 years and FFP is currently suspended to allow for Covid impacts. 

The 16 million does not read well but we were accepting one offer away from breaking even. 

I totally understand there is bad muscle memory here but we have without doubt assets in that squad now. 

Tell you what though, anyone debating what SG has achieved here should consider the impact of Europe for us. 3 years qualifying from the inter toto five a side rounds, without that money ...... shudder

[Don81 2,837]

38 minutes ago, markem said:

Absolute boz. We were well shy of the 3 year operational loss required in previous 3 years and FFP is currently suspended to allow for Covid impacts. 

The 16 million does not read well but we were accepting one offer away from breaking even. 

I totally understand there is bad muscle memory here but we have without doubt assets in that squad now. 

Tell you what though, anyone debating what SG has achieved here should consider the impact of Europe for us. 3 years qualifying from the inter toto five a side rounds, without that money ...... shudder

Will prove far more important in the long term than winning trophies the last couple of years.

[Straight-Edge-Loyal 6,686]

They aren't great reading but a couple of million loss isn't good but we could sell a couple of players to cover for it and better yet qualify for the champions league as title winners and it's even better. 

[plumbGER 24,518]

1 hour ago, esquire8 said:

Good thread 

"A measly £24 increase" if buying for a family of 4 is a lot of money in the current climate, particularly when we don't get in to see the games. Smacks of taking our support for granted.

Apart from that a decent read.

[markem 7,251]

4 minutes ago, dougal72 said:

Will prove far more important in the long term than winning trophies the last couple of years.

Which is hard to take as all that matters is trophy’s but without the progress that money has given us the next few years and what awaits would have had no chance .... and imho buckle up 👍🏻

[KingKirk 25,633]

Champions league football away from breaking even minimum. Not the best looking books but commercial deals aren't included so we've got that still to come. 

Add that in and the numbers won't look as bad as it does now probably roughly the same as years previously 

[theblueoysterbar 19,599]

As I understand the last couple of pages of that there's only about a £5 million difference between our cash in the bank and our financial liabilities.

Looks like a great position to be in. Assets such as players and everything else aren't included in that.

Seems healthy. Thankyou Douglas Park and Dave King. 

[McEwan's Lager 30,522]

20 minutes ago, theblueoysterbar said:

As I understand the last couple of pages of that there's only about a £5 million difference between our cash in the bank and our financial liabilities.

Looks like a great position to be in. Assets such as players and everything else aren't included in that.

Seems healthy. Thankyou Douglas Park and Dave King. 

Wouldn't call it a great position to be in tbh.

What happens if we don't qualify for European group stages next season. Are investors willing and able to cover greater losses than £14m?

What if something happens to Bennett or Park? Are the current group of investors going to cover the finance needed?

The accounts are sort of fine in the medium term when you have a couple of people willing and able to provide this kind of cover. But that can turn all very quickly.

 

[theblueoysterbar 19,599]

1 minute ago, McEwan's Lager said:

Wouldn't call it a great position to be in tbh.

What happens if we don't qualify for European group stages next season. Are investors willing and able to cover greater losses than £14m?

What if something happens to Bennett or Park? Are the current group of investors going to cover the finance needed?

The accounts are sort of fine in the medium term when you have a couple of people willing and able to provide this kind of cover. But that can turn all very quickly.

There's £10m+ in the bank and outstanding liabilities of £15-£16m or so.

I would call that a more than decent position to be in. There's a squad that's worth about £40-50m there as well imo.

Good positive trends on income from all sorts of sources too.

You can't worry about DP getting run over by one of his own buses tomorrow mate, it could be better but it's going the right way. 

 

[TamCoopz 19,605]

9 hours ago, AlbertzLoyalRSC said:

He's no going to shag you Tam.

It’s just annoying when folk on here mention someone in a thread then constantly have a go at them for commenting in the same thread 😂

[B1872 20,700]

I don’t think the figures are great. However saying they are ‘horrific’ is a bit of a stretch tbh!

However people need to remember our business plan back in 2015 was always to run at a loss for the first five years since the Three Bears came to the club and front load cash on the squad, stadium and infrastructure. 

If a suitable offer comes in for Alfie or Kamara then we’ll probably sell as we have plenty of cover in these positions - we’ll have the Castore money coming in that should also help mitigate the loss of fans. I’d expect a sale of a player in January or the summer which will have us not far off breaking even.

One thing though with regards this season the league title is absolutely massive. Our turnover vs the tramps is getting closer and if we could get in the Champions League it would totally flip the resources of both and we’d be more dominant wage wise and in the transfer market.

I for one am very grateful to Dave King, John Bennet, Douglas Park and George Letham. I shudder to think where we’d be if we were still under the Spivs and Ashley’s grip. 👍🏻

[Jimfanciesthedude 24,540]

People need to not really look at last years accounts but the impact this season will have

Essentially 13mill of euro revenue was fans at home games, so thats gone as of the now, domestic match day income another 3mill down the drain 

Its alright feeling that we only lost 14mill or whatever last season but this season our wages will be higher and our revenue will be a good chunk less 

[Jimfanciesthedude 24,540]

1 minute ago, Rangers_no1 said:

30. POST BALANCE SHEET EVENTS The following events have occurred subsequent to the year end: Acquisition and disposal of player registrations The Group contracted for the purchase of seven permanent player registrations in addition to the temporary registrations of one player on loan. The amount payable in respect of above amounts to £15.4m, after taking account of direct costs. The Group also disposed of ten player registrations on a permanent basis, one registration on loan and became entitled to sell on fees on player registrations previously disposed. The amount receivable in respect of above totaled £1.0m. 

Im a bit confused by this, that surely aint suggesting we spent over £15m on transfer and loan fees this summer? 

Surely they are talking about summer 2019, ojo would be the loan player, kent, helander are around ten mill combined 

[GersInCanada 7,775]

In the cold light of day they don't look too bad. When you take what we had in the bank off the deficit we are only in the hole for about 5 million. Easily cover that with our assets.

Looks to me that the board are doing a fine job.

[eskbankloyal 19,446]

6 minutes ago, Rangers_no1 said:

30. POST BALANCE SHEET EVENTS The following events have occurred subsequent to the year end: Acquisition and disposal of player registrations The Group contracted for the purchase of seven permanent player registrations in addition to the temporary registrations of one player on loan. The amount payable in respect of above amounts to £15.4m, after taking account of direct costs. The Group also disposed of ten player registrations on a permanent basis, one registration on loan and became entitled to sell on fees on player registrations previously disposed. The amount receivable in respect of above totaled £1.0m. 

Im a bit confused by this, that surely aint suggesting we spent over £15m on transfer and loan fees this summer? 

It’s £15.4m post 30 June 2020. 

[eskbankloyal 19,446]

1 minute ago, Rangers_no1 said:

Yeah I just said that to Jim. Does that figure include the players wages?

No. Direct costs will be agent fees and possible signing on bonus