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Rangers Accounts 2020


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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. 

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I’ve already said on here that no matter what happens this season we’ll need to sell players.. The nonsense about Europe being a distraction (myself included btw) is laid bare in accounts. A

Rent free.

This place is mental. Scum release break even figures - Look they can only get profits by selling players, horrific figures and are in huge trouble. We release huge loses - Nothing to worry

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6 minutes ago, Jimbeamjunior said:

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

All those figures are in the accounts to June 2020. That summer we signed 2 on loan, 9 permanent. 

Its July this year on wards. The transfer fees were £9/10m I thought. Are wages included in the direct costs?

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16 minutes ago, eskbankloyal said:

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

An extra 6m odd for agent fees/sign on bonus seems absolutely horrific considering thats over 2/3rds of the transfer fees.

I get thats how football works but those figures are not great considering one is 37, two 32, one a loan, two 21, Itten 23 and the final player in Roofe. 

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12 hours ago, SeparateEntityMyArse said:

Fenians in a frenzy.

the mutant bastards will be counting using 8 fingers,4 thumbs and 12 toes :thumbsup:

 

12 hours ago, Nameless Ghoul said:

Not going to even pretend i know what it all means. Waiting for a breakdown from someone who does

get yersel over to kerryfail street and the accountants will have worked it out by now :dance::thumbup:

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10 hours ago, Jb85 said:

Just saw this on FF: 

 

From the financial report....
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.

Are insurers in Scotland already paying out on business interruption then? The test case is still being appealed by insurers in the Supreme Court in England 

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15 minutes ago, Jimbeamjunior said:

How the fuck did we spend 15mill on they signings, 

Widely reported the transfer fees were around £9-£10m

£2.7m Itten

300K Bassey

£3.5m Roofe

£3m Hagi

Gerrard came out and said Roofe fee was nowhere near the reported figure.

Our agent fees in the summer 2018/Jan 2019 was £915k, scums was £1.7m and we signed 20 players in those two windows and them 14.

The extra £5/6m costs seems very excessive if it is indeed agent and sign on fees.

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5 minutes ago, Rangers_no1 said:

Widely reported the transfer fees were around £9-£10m

£2.7m Itten

300K Bassey

£3.5m Roofe

£3m Hagi

Gerrard came out and said Roofe fee was nowhere near the reported figure.

Our agent fees in the summer 2018/Jan 2019 was £915k, scums was £1.7m and we signed 20 players in those two windows and them 14.

The extra £5/6m costs seems very excessive if it is indeed agent and sign on fees.

Including wages in some of the figures? (Roofe)

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7 hours 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.

 

Regarding Europe, worst case scenario we’d be guaranteed a place in the Europa Conference League.

Not sure how rewarding it is financially though.

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