Accounts 20/21

[The Specky Forum Organiser 65,024]

1 minute ago, Malkytfp1 said:

Over £20m losses as most people suggested. Coupled with nobody seeing that a a positive result or not as bad.

Not as bad as expected was aimed at this

'In this context it is important to note that the commitment and investment of your Board and its loyal and aligned investors has enabled a significant reduction in the Company’s identified future funding requirement. This figure, which includes the expected cost to complete capital projects, now stands at £7.5m for the coming 21/22 season and only £0.4m in the following season.

While still a substantial sum, the remaining requirement demonstrates the very significant progress made given that the funding requirement identified in last year’s accounts was more than £23m over the subsequent two seasons.'

[Malkytfp1 18,600]

2 minutes ago, Brian Fantana said:

This is interesting: 

CASH

The Group has worked to maintain its cash despite disruption to its activities by:-

• changing of our merchant providers, to improve the terms on our season ticket cash flows, supplying cash up front instead of across the season.

• utilisation of government schemes and assistance, including payment deferrals for VAT and employment taxes and the job retention scheme for non-playing staff.

• the deferral of wage payments for high earning staff.

 

Who isn't getting their payments and if its players, is this impacting on performance?

Isn't that just refering to the players and staff deferring wages for 3 months during covid?

[Brian Fantana 28,894]

Just now, Malkytfp1 said:

Isn't that just refering to the players and staff deferring wages for 3 months during covid?

not sure, clarification would be good. 

[Ukrainian 51]

24 minutes ago, Brian Fantana said:

time to accept that the board cant provide a sustainable business model. 

no money = no new players, no new players = no new success, no new success = no money.......

What do you mean when you are talking about “new success” ? 

What is “new success” for Rangers? One more local win? 

You can’t be real power in Europe when you play in SPL. If you want European success you must make stronger and reacher local championship. Unfortunately there is no so much romantic in modern football.

[graeme_4 34,615]

All the bed wetters who don’t understand accounts need to settle down. It’s better than I was expecting. 

[The Specky Forum Organiser 65,024]

1 minute ago, Ukrainian said:

What do you mean when you are talking about “new success” ? 

What is “new success” for Rangers? One more local win? 

You can’t be real power in Europe when you play in SPL. If you want European success you must make stronger and reacher local championship. Unfortunately there is no so much romantic in modern football.

Success is winning the league, the same as it always has been

[Malkytfp1 18,600]

Just now, Brian Fantana said:

not sure, clarification would be good. 

Yeah definitely. It was well reported that the players and staff took a wage deferral for 3 months and if I was guessing I'd say that is what it is referring to.

 

[johanhentze 14,096]

He comes from Zambia… fucking heid man…

[BigBearButt 3,652]

The board shat the bed with summer recruitment knowing fine well we had champions league qualifiers. We were promised quality over quantity in terms of recruitment and got neither which obviously had knock on effects to our qualification thus the loss of 30m. If we had failed to qualify we could have then accepted some player sales as justifiable to cover those losses. 

Regardless it makes pretty grim reading whatever way you look at it and the way the team is playing we need significant investment if we are looking to retain the league this year and qualify for the champions league. 

 

[Ukrainian 51]

4 minutes ago, The Specky Liar said:

Success is winning the league, the same as it always has been

But you don’t need more successful “business project” for that. 

Te be a bit better than celtic is enough 

 

[Malkytfp1 18,600]

On the flip side, there will be loads of new sign ups to the forum today.

[The Specky Forum Organiser 65,024]

Just now, Ukrainian said:

But you don’t need more successful business project for that. 

 

To do it consistently you do

[The Specky Forum Organiser 65,024]

1 minute ago, BigBearButt said:

The board shat the bed with summer recruitment knowing fine well we had champions league qualifiers. We were promised quality over quantity in terms of recruitment and got neither which obviously had knock on effects to our qualification thus the loss of 30m. If we had failed to qualify we could have then accepted some player sales as justifiable to cover those losses. 

Regardless it makes pretty grim reading whatever way you look at it and the way the team is playing we need significant investment if we are looking to retain the league this year and qualify for the champions league. 

 

Shat the bed when we were in line to make a 23m loss  

Ridiculous shout

[gazza27 15,283]

2 hours ago, BlueboyG said:

If we were to win the league this season CL money would eradicate that loss, however what we are witnessing with our team just now doesn't look great. 

What top of the league by 4 points? 

[The Specky Forum Organiser 65,024]

Difference in Douglas Park and Dave King's attitude to Rangers is very apparent now.

[Malkytfp1 18,600]

1 minute ago, BigBearButt said:

The board shat the bed with summer recruitment knowing fine well we had champions league qualifiers. We were promised quality over quantity in terms of recruitment and got neither which obviously had knock on effects to our qualification thus the loss of 30m. If we had failed to qualify we could have then accepted some player sales as justifiable to cover those losses. 

Regardless it makes pretty grim reading whatever way you look at it and the way the team is playing we need significant investment if we are looking to retain the league this year and qualify for the champions league. 

 

This sums up the average fan on here.

Moaning about player recruitment, moaning about our financials then finishing with "we need significant investment in the team".

It's like taking bites out a cake then asking where the cake went.

[BigBearButt 3,652]

4 minutes ago, Malkytfp1 said:

This sums up the average fan on here.

Moaning about player recruitment, moaning about our financials then finishing with "we need significant investment in the team".

It's like taking bites out a cake then asking where the cake went.

You dont think we do like? Im not saying the board need to empty their pockets the time to do that was before the qualifiers so that ship has sailed.

Im saying we need to play the game properly in terms of buy low and sell high. Then use the money from that to invest. We are attrocious at selling and getting value for players. 

[graeme_4 34,615]

Important to note that gate receipts and hospitality down £17m, which will be back up this coming year.

Likewise Castore payments only went up to end of June, so probably didn’t include 55 gear, champions top and 150th anniversary stuff. Surprised the figure was as low as it was given the amount we buy. 

Accounts do highlight the need for a player trading model and continued European qualification. 

[Ladytonbear 375]

2 hours ago, JackAlex93 said:

Admin 2 😂

Keep up- surely we are at admin 32 by now…..

[GersInCanada 7,775]

Now that we can show a drop in revenue from 35M to 18M for 'gate receipts and hospitality' due to no fans at Cup or European fixtures we will be able to put in a hefty claim on the covid insurance.

[The Specky Forum Organiser 65,024]

Someone on FF saying we have invested £1.7m in the womens team. Someone please tell me that isn't true?

[BigBearButt 3,652]

9 minutes ago, The Specky Liar said:

Shat the bed when we were in line to make a 23m loss  

Ridiculous shout

Not really, when you could make potentially 30 plus million from qualification sometimes you have to speculate to accumulate. If we didnt qualify still you could say well we gave it our best shot and recoup some of the expendature will player sales. Instead we sat on our hands and stagnated. 

[esquire8 42,903]

6 minutes ago, Brian Fantana said:

time to accept that the board cant provide a sustainable business model. 

no money = no new players, no new players = no new success, no new success = no money.......

The board have put it all on black for this season. Win the league and it will set us up for the next few seasons. Don't win it and it will set us back the next few seasons at the very least.

[MurrayWilson 3,432]

6 minutes ago, The Specky Liar said:

Shat the bed when we were in line to make a 23m loss  

Ridiculous shout

It was a gamble we couldnt afford to take. What we had shouldve been easily good enough to qualify  for the champions league past malmo and ferencvaros. That we didnt is on the manager and the players, not the board. 

[McEwan's Lager 30,571]

Just now, The Specky Liar said:

Someone on FF saying we have invested £1.7m in the womens team. Someone please tell me that isn't true?

I thought it would be higher than that tbh.