Are The Rangers a Going Concern?

[Keith_M]

According to The Herald...

"New financial papers show that auditors passed the Rangers International Football Club plc as a going concern on the understanding that it was able to raised £7.2 million over the next two seasons which would take the amount of loans to nearly £23 million.

The latest £4 million cash injection is required by the end of this season with the first tranche required this month.

A further £3.2 million is also needed next season."


While their income increased by £8M from the year before, presumably due to promotion, their operating costs increased by £9M.

They've apparently also had to pay £4M to rid themselves of Ashley.


Sounds like the current business overseeing footballing matters at Ibrox is getting in ever increasing debt, just to keep going.

[Sir David Gray]

Pleasing.

[SirDavidsNapper]

The Rangers following in the footsteps of the original club. Happy days.

[Hi Heid Yin]

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According to The Herald...

"New financial papers show that auditors passed the Rangers International Football Club plc as a going concern on the understanding that it was able to raised £7.2 million over the next two seasons which would take the amount of loans to nearly £23 million.

The latest £4 million cash injection is required by the end of this season with the first tranche required this month.

A further £3.2 million is also needed next season."


While their income increased by £8M from the year before, presumably due to promotion, their operating costs increased by £9M.

They've apparently also had to pay £4M to rid themselves of Ashley.


Sounds like the current business overseeing footballing matters at Ibrox is getting in ever increasing debt, just to keep going.

It seems that Sevco have learnt nothing from the financial collapse of the club that went out of existence in 2012 - an extinct club that they truly believe did not die but somehow miraculously separated itself from its considerable debts, telling the world that those debts belonged to a liquidated club and not themselves, but laid claim to the liquidated clubs entire trophy haul, which now sits shamelessly in the halls of Hunbrox.
It has to be the biggest mass delusion in history

[Vini1875]

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It seems that Sevco have learnt nothing from the financial collapse of the club that went out of existence in 2012 - an extinct club that they truly believe did not die but somehow miraculously separated itself from its considerable debts, telling the world that those debts belonged to a liquidated club and not themselves, but laid claim to the liquidated clubs entire trophy haul, which now sits shamelessly in the halls of Hunbrox.
It has to be the biggest mass delusion in history

Not sure that hun hordes even think as deeply as that. It's much more like, they owed a few quid, but had done nothing wrong and then all the clubs in Scotland - out of jealousy - relegated them to the 3rd Division. Now they have heriocally fought their way back to the top where they belong and it's only a matter of time before they win everything.

[HFCdeb]

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Not sure that hun hordes even think as deeply as that. It's much more like, they owed a few quid, but had done nothing wrong and then all the clubs in Scotland - out of jealousy - relegated them to the 3rd Division. Now they have heriocally fought their way back to the top where they belong and it's only a matter of time before they win everything.

Very much this.

[Jack Hackett]

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It seems that Sevco have learnt nothing from the financial collapse of the club that went out of existence in 2012 - an extinct club that they truly believe did not die but somehow miraculously separated itself from its considerable debts, telling the world that those debts belonged to a liquidated club and not themselves, but laid claim to the liquidated clubs entire trophy haul, which now sits shamelessly in the halls of Hunbrox.
It has to be the biggest mass delusion in history

They've learnt that they can do wtf they like with little fear of consequences

[iwasthere1972]

If they are going then I'm not concerned.

[NAE NOOKIE]

After 5 years in existence to find themselves 23 million quid in debt is unbelievable .... did they learn nothing from the corpse whose clothes they stole?

There's a simple reason for their current predicament .... The one thing they laid claim to amongst all the trophies titles and bigotry they should have left in the grave of Rangers 1872 was that clubs arrogance .... its that same arrogance allied to incompetence which will kill The Rangers FC 2012.

[Deansy]

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After 5 years in existence to find themselves 23 million quid in debt is unbelievable .... did they learn nothing from the corpse whose clothes they stole?

There's a simple reason for their current predicament .... The one thing they laid claim to amongst all the trophies titles and bigotry they should have left in the grave of Rangers 1872 was that clubs arrogance .... its that same arrogance allied to incompetence which will kill The Rangers FC 2012.

Fingers, legs and anything else - crossed !

Btw - when the first edition of the Hun got caught cheating ................. oops, sorry - went bust, wasn't one of their biggest gripes that the GFA had allowed their club to get into such debt in the 1st place ?. If I remember correctly, didn't some of them (fans AND a couple of ex-directors) publicly blame the GFA more than the hun themselves - something about Regan & Co not doing their duty ??. Either way, things are getting interesting again at 'The Place Where Football Goes To Die' !

[Sir David Gray]

What will they call themselves if they need to be reinvented again?

Sevco II
The the Rangers

[Joe6-2]

Let's hope history repeats itself!! Oh no, wait, I forgot we need a strong (the) Rangers

[1van Sprou7e]

I've heard that they'll be alright as they'll be going back to keeping all the money they make from shirt sales, no idea how much of a difference that will make though

[brog]

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I've heard that they'll be alright as they'll be going back to keeping all the money they make from shirt sales, no idea how much of a difference that will make though

They're not keeping all money from shirt sales. They have a new agreement with SD. It's ( apparently ) better for them than before but Ashley is still involved.

[stoneyburn hibs]

Scottish football will surely die if the Rangers are liquidated again.

[weecounty hibby]

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Scottish football will surely die if the Rangers are liquidated again.

Die laughing. Not one supporter of one other team in the country has one bit of sympathy for them.

[Joe6-2]

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Die laughing. Not one supporter of one other team in the country has one bit of sympathy for them.

Or feels they are needed

[NOLA]

They need to spend money to close the gap to Celtic and win trophy’s both of those things won’t be happening anytime soon so their debt will only increase as they seek a new manager who may empty half the 1st team to bring in his own which only adds to the financial outlay


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[RyeSloan]

It's quite pleasing to see both of the biggest cheats in Scottish football both thinking they could carry on just as before but now finding out that karma truly is a bitch

[h185forever]

Surely the SFA and / or the SPFL have a duty to ensure that all member clubs, especially those previously in administration, are being run on a financially sound basis.

If for no other reason than to safeguard the name of the game in Scotland.

Financial fairplay ......is that a forlorn hope that has been strangled in recent years by the two bodies charged with ensuring the integrity of our beloved.

Hey ho ...I hope they go bust and are finally put to the sword once and for all.

[HibbyDave]

We all know that if they go mammaries skyward that there would be an immediate league reconstruction and the new set up would include them and probably save the Jumbos from relegation.

[Viva_Palmeiras]

“Growing concern” - they meant growing concern” for some :)

[Ozyhibby]

It’s funny now but won’t be so funny if they beat us to one of the European spots this year. Rod will no doubt just tell us to move on though.


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[CropleyWasGod]

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It’s funny now but won’t be so funny if they beat us to one of the European spots this year. Rod will no doubt just tell us to move on though.


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It's UEFA's call, just as it was this season.

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[Ozyhibby]

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It's UEFA's call, just as it was this season.

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That’s what is so wrong given how many Scottish clubs have bought success before going bust. That it appears to be acceptable to the other clubs is the hardest thing to fathom.


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[CropleyWasGod]

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That’s what is so wrong given how many Scottish clubs have bought success before going bust. That it appears to be acceptable to the other clubs is the hardest thing to fathom.


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Not sure what you would have the clubs do. If the SFA introduced FFP rules here, they would mirror UEFA's. In that light, RFC would be entitled to continue to operate as they are.

They're solvent, and that's what counts IMO.

[hibbydog]

Hilarity aside, can anyone tell me if they are actually in serious danger of going into administration again?

It would be the funniest thing ever!!!

[H18 SFR]

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Hilarity aside, can anyone tell me if they are actually in serious danger of going into administration again?

It would be the funniest thing ever!!!

Most likely not as the vast majority of the debt are soft loans with directors and benefactors. If someone called in the debt they'd essentially be writing off what they're owed. The problems will start when no more loans are forthcoming and they can't pay day-to-day bills etc.

[hibs#1]

Never mind their finances any one see the state of the union bears tifo/display yesterday?😂😂😂😂