Generic Sevco / Rangers meltdown thread

[Sergey]

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@alextomo: The ever-helpful HMRC have written : "Good evening Alex, the Rangers judgment is out tomorrow."

Would HMRC know the result by now? Could their willingness to notify journo's be an indication they got a positive result?


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They're merely stating fact - that's how I read it.

[jonty]

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@alextomo: The ever-helpful HMRC have written : "Good evening Alex, the Rangers judgment is out tomorrow."

Would HMRC know the result by now? Could their willingness to notify journo's be an indication they got a positive result?


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He's probably just asked if they've got the judgement and they've palmed him off with a bog-standard reply.

[Torto7062]

Saw a few comments on Twitter and Facebook saying that the Ibrox Faithful are desperate for money and that the club could hit their 1st ever administration (formed 2012)

Anyone else heard these malicious rumours 😆😆

[magpie1892]

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Saw a few comments on Twitter and Facebook saying that the Ibrox Faithful are desperate for money and that the club could hit their 1st ever administration (formed 2012)

Anyone else heard these malicious rumours 

They are totally strapped but I hear that another administration is not imminent. I say 'another' as the invertebrate SFA reckon they are the same club that liquidated in 2012. If they do go into admin, we should thank the SFA for holding that view because it will cost them 25 points this time.

[Sir David Gray]

That can't be true.

Mark Warburton and Dave King have told us that they're going to be competing with Celtic next season for the Premiership title and the season after that, they'll be in the Champions League.

[steakbake]

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They are totally strapped but I hear that another administration is not imminent. I say 'another' as the invertebrate SFA reckon they are the same club that liquidated in 2012. If they do go into admin, we should thank the SFA for holding that view because it will cost them 25 points this time.

Anything on the jungle drums about whether they are close?

[Sammy7nil]

Not going to happen

[Boyle89]

I think I would die of laughter if they went into admin (again/for the first time).

[lucky]

It would guarantee league reconstruction but sadly it's not going to happen

[Tinribs]

Dave King's off the radar millions will keep them going. Despite not putting 2 pence into the club yet.

[Centre Hawf]

To be honest, stories like this is beginning to sound repetitive and discussion of them seems desperate. We've had years of discussing teams finances like some sort of football edition of Dragons Den.

Let's get back to talking about what happens on the park. Besides, where would the fun be in pipping Der Hun to the title if they lose 25 points?

[Dashing Bob S]

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To be honest, stories like this is beginning to sound repetitive and discussion of them seems desperate. We've had years of discussing teams finances like some sort of football edition of Dragons Den.

Let's get back to talking about what happens on the park. Besides, where would the fun be in pipping Der Hun to the title if they lose 25 points?

Personally, I would say that winning the title by 24 points in such circumstances would be terrific fun.

[BroxburnHibee]

No chance

[Ozyhibby]

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Personally, I would say that winning the title by 24 points in such circumstances would be terrific fun.

Agree 100%


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[CropleyWasGod]

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To be honest, stories like this is beginning to sound repetitive and discussion of them seems desperate. We've had years of discussing teams finances like some sort of football edition of Dragons Den.

Let's get back to talking about what happens on the park. Besides, where would the fun be in pipping Der Hun to the title if they lose 25 points?

We can multitask

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[Ozyhibby]

http://linkis.com/dailyrecord.co.uk/cLbUS

December 9th King V Ashley in the High court in London
Also confirmation of Phil MacGiollabhains claim that they all attended Ashley's HQ.
He has a terrible writing style but very good sources.



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[Billy Whizz]

I see they have published their accounts.

[CropleyWasGod]

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I see they have published their accounts.

Do you have a link, Billy? They're not on the Companies House site yet.

[wookie70]

Here is the link to the page their annual report is at the foot of the page. Another big loss of 7.5M

[hibbysam]

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Do you have a link, Billy? They're not on the Companies House site yet.

£7.5m loss according to Chris McLaughlin, to June 2015. Down from £8.1m previous year lol.

[Oscar T Grouch]

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Saw a few comments on Twitter and Facebook saying that the Ibrox Faithful are desperate for money and that the club could hit their 1st ever administration (formed 2012)

Anyone else heard these malicious rumours 😆😆

Saw a lot of this last night too. Did a bit of digging and it seems to have emanated from an SPFL news page which is very obviously a Celtic troll site. So doubt it is true.

[Billy Whizz]

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Do you have a link, Billy? They're not on the Companies House site yet.

http://rangers.co.uk/wp/wp-content/u...Report2015.pdf

[Andy74]

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Mr Struth should have kept a closer eye on his Sons. It certainly reads like they didn't spend an awful lot of time in English class at school.

I know his grandson pretty well. Lawyer and top guy actually.

All these Rangers groups have to have some mention of sons or loyal or order. Mental in this day and age.

[CropleyWasGod]

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http://rangers.co.uk/wp/wp-content/u...Report2015.pdf

Thanks

Quick look over them, as I'm due elsewhere.

Audit Report , as I suspected, isn't qualified. They have clearly accepted the financial undertakings given by the Board. More fool them?

Balance Sheet total 43-44m. Almost exactly the same as the property value. That's not a good sign.

More later.

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[greenginger]

2015 Financials.

£ 10 million loss on a £16 million turnover. Still a financial basketcase.

[Ozyhibby]

They need £2.5m to finish the season. £7.5m if Mike Ashley have anything to do with it. Chuck in a Green's expenses and Kings to defend himself in December and your looking at a big chunk of money required to get to May.


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[ballengeich]

The 2014-15 revenue included money from the Commonwealth games and also from SFA games played at Ibrox while Hampden was unavailable. That won't be available this season.

I'm surprised by the note to the accounts that up to £2.5m will be required to complete the current season. Given that the operating loss last season was £9m that seems rather low even though gate receipts are up and they've a smaller playing squad.

[greenginger]

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The 2014-15 revenue included money from the Commonwealth games and also from SFA games played at Ibrox while Hampden was unavailable. That won't be available this season.

I'm surprised by the note to the accounts that up to £2.5m will be required to complete the current season. Given that the operating loss last season was £9m that seems rather low even though gate receipts are up and they've a smaller playing squad.

They also needed a share issue of £ 3.1 million, a transfer fee of £ 900K, Ashley's £ 5 million loan and the 3 bears £ 4 million loan.

They had £ 1 million to start the year, so they burned £ 12 million.

[Callum_62]

Cant they just deduct that 2.5 mill out of Kings 30 odd?

[Ozyhibby]

Accounts also show they have still not paid the £250k fine due to the league for their involvement in EBT's. A clear breach of the 5 way agreement.
How many other clubs would get away with not paying their fines?

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