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He is a long time friend of mine, surprised he would say anything after being put onto their board, but a true footie fan (who like most of us doesn't like them or their twin arsecheek)
I hadn't realised that Nil By Mouth was a Rangers "charity". I genuinely thought they were fighting sectarianism but it appears all they are doing is legitimising whataboutery.
Some things by mouth might be a more appropriate non "sectarian" name for it then?
Never ceases to amaze me what this sort of creature isn't offended by and doesn't regard as sectarian.
It really is the Scotland's shame that the laws exist to at least take action. There's plenty targets every week but I think it shows the country in a poorer light that governments effectively ignore their own laws for fear of offending, or worse, those they should be meeting head on.
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If Nil by Mouth thinks “ Sevco “ is an offensive term then they’d better get onto Companies House right away.
There are numerous references to Sevco and The Rangers on that site, it was the original name of the parent company ffs.
Come to think of it, they get offended by The Rangers tag too, maybe time the word “The” got banned too, just to keep them happy. :greengrin
£23.5m loss announced in their latest accounts. Not surprised to see them post a loss due to Covid but wondering how many losses and the total amount of losses they have posted since their reincarnation.
They’ve lost £80mil up to the last set of accounts, so adding the 23.5mil to that makes it just over £100mil they’ve lost since being reborn. But there’s nothing to see here, this is all legit and above board. The debt however mostly comes from rangers board members and I’m sure a lot of it was converted to shares but I could be wrong about that.
At first glance, they are in a much better state than they could have been. Their funding gap has reduced from £23m to £8m. They have also secured longer-term external funding, which is a big step for them.
Disclaimer:- "at first glance" might miss a lot of issues :greengrin
Yep, that was their stated model. Something like "group stages of the Europa or Champions League in 3 out of 5 seasons". We all probably scoffed at that at the time, as they were pretty poor on the park.
In some ways, it's almost irrelevant that Gerrard hasn't been too successful domestically. He's done the business in Europe which, from a financial point of view, has been much better for them.
I'd doubt it.
They have been in worse places than they are now, and managed to get round the FFP rules. In the past, they had to show that they were taking steps to plug their funding gap. It's clear that those steps were taken, and further steps are being taken. The long-term funding that they have secured is a huge step for them in that respect.
Sadly there are an awful lot of rich huns out there who are happy to swap £m for worthless share certificates. As much as we would all love it, in a Kevin Keegan stylee, if they went tits up it won't ever happen
UEFA Fairplay rules were designed to stop clubs spending more than they earn, but they have been a complete failure.
They are meant to be having an overhaul this year...but I wouldn't put a £1 on new rules having any greater success.
As for the chances of SFA/SPFL putting in place checks and restrictions such as they have in the Bundesliga - zero chance
Clubs such as Sevco etc will just have to keep hoping directors/supporters will keep chucking in the cash.
So they have spent over £100m more than their income since they last went pop.
Financial doping on a huge scale yet somehow its not covered by UEFA FFP rules or even remotely bothering the Scottish authorities in terms of how that impacts the domestic ‘fairness’ of competition.
Seems right enough.
There could be a spin-off series.
The Easdale brothers, last seen in Season 3, are reported to be in for Derby County.
Notice in the papers something about King charging massive interest on his loan. Anyone know anything about this?
https://www.scotsman.com/sport/footb...counts-3451314
"While announcing figures to June 2021, Rangers summarised a seven-figure loan, plus £832,000 interest, had been repaid to Mr King since that accounting period ended and replaced by ‘a long term, lower coupon structured facility’ to support their aim to ‘strengthen our capital and funding structure’."
IIRC it stated in the accounts that they needed an additional 7.5M to finish the season. Do they need more now that the Lying King has been paid? Also, has Hector been paid yet? Come on CWG - give us some informed opinions :wink:
1. nah, sorry. That has been taken account of in the £7.5m.
2. no scooby. They have £7.7m due for "Taxes & Other Social Security Costs" at the end of June. No idea how that breaks down into VAT, PAYE, NI etc. Also don't know whether it's for 1 month, or longer. It's a huge sum, but a couple of million lower than it was last year.
From BBC Gossip column today on the King matter
Former Rangers chairman Dave King cites "inaccurate" information in the club's most recent accounts, saying a £5m loan was incorrectly attributed to him rather than a business within his family trust structure. (Sun)
King says interest of more than £800,000 paid on the loan had "no impact" on Rangers' financial results. (Scotsman - subscription required)
We all know King is a fine upstanding gentleman known never to lie about anything!!
Deluded Rangers fans on Superscoreboard thinking Gerrard won't go to Villa because Rangers are a much bigger club. One yesterday even said Rangers are bigger than Liverpool. :faf:
Can't wait to see the meltdown when he goes.
Wonder who they'll go for to replace Gerrard?
Gerard and Beale seen in London. If and when he takes Villa job I am sure he will raid The Rangers for Kent and Patterson.
I’m not sure there is anyone in that Rangers team that would get a game for Villa.
I think the opposite. If he is critical of the standard up here then surely questions will be asked over his poor record (1 trophy in 9 hardly entitles him to be critical of the standard).
Callum Davidson has won more than him as a manager in a shorter period of time.
https://twitter.com/FollowMeltdowns/status/1458751054003245060?s=20
Amusing
If fat morelos is as good as the record says, surely Gerrard will move to secure the world's best striker.
Oh wait.
Reported to be £4.5m compensation.
That will make a huge dent in their financial problem.
Erm, Sevco's the rankers first title Steven!
Plugged half their budget hole, now they can bring in a lesser, but more staunch name who won’t be in the media demanding money to spend.
The Board is probably delighted.
I have to say, the violent racist that is John Terry is a perfect fit for Sevco.
A whole catalogue of despicable behaviour over a long period of time.
They deserve each other.
Why don’t they just hire another manager , call him Steven Gerrard and tell everyone it’s the same management team. They have used that before
Ruth Davidson?
So long Scouser ned https://uploads.tapatalk-cdn.com/202...861a0f420d.jpg
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Still love this comment on Follow follow from yesterday [emoji1787] pmsl... https://uploads.tapatalk-cdn.com/202...5470da258e.jpg
Pick that apart ya dafties!!