Generic Sevco / Rangers meltdown thread

[Oscar T Grouch]

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They hardly spent a thing in the last transfer window compared to what they've done in the past. I imagine that will remain the case moving forward as they are in the FFP sights of UEFA.

That is one part of it but if they're relying on selling players each year to break even, restricting what you spend makes that all the more difficult, which is nice, the harder they have to struggle to exist the better!

[Smartie]

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Could you let us know how it goes and if the book sounds worthwhile?

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Me too!

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Of course.

This is the lecture...

https://www.eventbrite.co.uk/e/range...s-439489333427

And a couple of articles from the press about the lecture and book from last week...

https://www.thescottishsun.co.uk/spo...ers-died-book/

https://www.thescottishsun.co.uk/spo...nts-glad-dead/



A lot of the info regarding the collapse of Rangers has come from the "Celtic minded" fraternity, so I was hoping there might be some merit in hearing the angle of a Falkirk supporting academic.

[The Pointer]

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Of course.

This is the lecture...

https://www.eventbrite.co.uk/e/range...s-439489333427

And a couple of articles from the press about the lecture and book from last week...

https://www.thescottishsun.co.uk/spo...ers-died-book/

https://www.thescottishsun.co.uk/spo...nts-glad-dead/



A lot of the info regarding the collapse of Rangers has come from the "Celtic minded" fraternity, so I was hoping there might be some merit in hearing the angle of a Falkirk supporting academic.

That sounds very interesting although a bit far for me to attend. I think almost all fans of other clubs observed the goings-on with a huge amount of distaste and find it difficult, if not impossible, to be dispassionate; but as the chap is an academic he will probably produce some difficult conclusions for most of us.

One of these is if he tries to separate the club from the company as I'd always lumped the two together. Up until Murray put them on the market, the directors were, to my knowledge, all Rangers supporters so inextricably linked to the club and after they were sold they were not, just 'suits' in to pillage the club as fast as possible. However, as we all know, the financial problems had started many years before when Murray was looking for ways to pay for his excessive spending to try and keep up with Celtc.

I look forward to hearing what Mr. Howieson says but I hope he confirms many of our suspicions.

[Fuzzywuzzy]

Just saw they had a display that said "let me tell you a story of honour and glory"

Not a hint of irony

[Springbank]

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Just saw they had a display that said "let me tell you a story of honour and glory"

Not a hint of irony

[Curtain Up]

The date is 21st May 2016

The clock reads ninety-plus-two

It's Liam Henderson to deliver

David Gray The Captain

What Kept You Hibs

[Curtain Drops]

[CyberSauzee]

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https://www.bbc.co.uk/sport/football/63566707

Huns post a profit. Is it just me or is £5.9m profit (to year end June 22) for a season that they sold a player for £12mil and reached the 2nd tier European final, seem a little small to you? Vast improvement on the £23.5mil lose from last season. Their turnover is up, probably due to their Euro adventures but doing a back of a fag packet calculation, take away Patterson's (12m) sale and the Euro final (est €10-12m so £9-10mil), they would still be taking a loss of around £18mil. Are the huns only sustainable if they sell players circa £10mil each year and get Euro football to the tune of around £10mil per season, is that a good business model?

I'm not a qualified accountant, but in their accounts it says an operating loss for the year to 30 June 2022 of just under £1m. So where does the £5.9m profit come from

https://assets.ctfassets.net/39646ie...2_09_FINAL.pdf

pandl2022.jpg

[Oscar T Grouch]

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I'm not a qualified accountant, but in their accounts it says an operating loss for the year to 30 June 2022 of just under £1m. So where does the £5.9m profit come from

https://assets.ctfassets.net/39646ie...2_09_FINAL.pdf

pandl2022.jpg

Sorry I was going by the BBC story which states that as profit, I wouldn't even look at the accounts as I have less comprehension of them than a rock does of quantum mechanics
Maybe one of our better knowledged posters will be able to help.

[CyberSauzee]

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Sorry I was going by the BBC story which states that as profit, I wouldn't even look at the accounts as I have less comprehension of them than a rock does of quantum mechanics
Maybe one of our better knowledged posters will be able to help.

Wasn't having a go at you Oscar!! Just very confused with the headline myself when you see an actual loss in the P&L!!!! Where is cropley was god???

[HibeeHibernia]

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Just saw they had a display that said "let me tell you a story of honour and glory"

Not a hint of irony

seen that last night as well mate creepy people lol

[HibeeHibernia]

They have been making losses for 10 years I was surprised that was the only debt they owe anyone haha i thought it would have been in the tens of millions.

[HoboHarry]

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I'm not a qualified accountant, but in their accounts it says an operating loss for the year to 30 June 2022 of just under £1m. So where does the £5.9m profit come from

https://assets.ctfassets.net/39646ie...2_09_FINAL.pdf

pandl2022.jpg

David Low was pretty quick to guffaw at the notion that they made a profit. They didn't.

[overdrive]

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I'm not a qualified accountant, but in their accounts it says an operating loss for the year to 30 June 2022 of just under £1m. So where does the £5.9m profit come from

https://assets.ctfassets.net/39646ie...2_09_FINAL.pdf

pandl2022.jpg

No, it says an operating profit of just under £5.9m which is the profit before one-off costs (the note suggests that’s legal costs), finance costs (so interest etc.) and tax. Taking those three things into account, the loss after tax, one-off costs and finance costs is just under £1m.

[Billy Whizz]

According to this, still owe £78m to investors


https://www.ibroxnews.com/2022/11/10...rs-chris-jack/

[HoboHarry]

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According to this, still owe £78m to investors


https://www.ibroxnews.com/2022/11/10...rs-chris-jack/

They are in UEFA's cross-hairs too after falling foul of the FFP rules. F*** 'em, I hope they go bust and the Park's et al don't get their money back.

[Iain G]

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They are in UEFA's cross-hairs too after falling foul of the FFP rules. F*** 'em, I hope they go bust and the Park's et al don't get their money back.

I hope they cinch it 🤣

[CropleyWasGod]

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According to this, still owe £78m to investors


https://www.ibroxnews.com/2022/11/10...rs-chris-jack/

Not seeing that at all.

[overdrive]

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Not seeing that at all.

Looks like just over £12m to me. Their total liabilities isn't that much more than the figure stated in that article, so I'm not too sure where they are getting that.

[CropleyWasGod]

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Looks like just over £12m to me. Their total liabilities isn't that much more than the figure stated in that article, so I'm not too sure where they are getting that.

Possibly included the share capital and share premium, which is a nonsense way to look at things. I still can't get those numbers to work either.

[CropleyWasGod]

To answer the earlier questions about profit/loss,they have included the £11m (?) from Everton for Patterson when arriving at the headline profit.

After the season end , they also sold Aribo and Bassey.

I haven't looked at the accounts in detail, but what I have seen suggests that they need to sell to keep afloat.....

... just like most clubs:))

[Moulin Yarns]

Just when you think it's all gone away...



https://news.stv.tv/west-central/spo...-discovery-bid



Sue them!!!! £9.5mill

[HoboHarry]

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Just when you think it's all gone away...



https://news.stv.tv/west-central/spo...-discovery-bid



Sue them!!!! £9.5mill

One day Sevco will realise that while they can run roughshod over the inept dullards at the SFA, their irresponsibility and/or dishonesty will get them handed their ***** when they play with big business. **** them, I hope they go bust. Again.

[CentreLine]

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One day Sevco will realise that while they can run roughshod over the inept dullards at the SFA, their irresponsibility and/or dishonesty will get them handed their ***** when they play with big business. **** them, I hope they go bust. Again.

Oi!! What’s this “again” thing. The the rangers have never been bust😏

[Donegal Hibby]

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Just when you think it's all gone away...



https://news.stv.tv/west-central/spo...-discovery-bid



Sue them!!!! £9.5mill

According to the Scottish sun (yeah I know) . Sydney super cup promoters have filed legal action against rangers and are looking for 1.7 million in compensation. Hope this is true as well 😆

[Moulin Yarns]

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According to the Scottish sun (yeah I know) . Sydney super cup promoters have filed legal action against rangers and are looking for 1.7 million in compensation. Hope this is true as well 😆

https://news.stv.tv/sport/rangers-sued-for-1-6m-after-withdrawing-from-sydney-super-cup

[Keith_M]

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Just when you think it's all gone away...



https://news.stv.tv/west-central/spo...-discovery-bid



Sue them!!!! £9.5mill

Apparently that company have now gone into administration.

Not that it stops the receivers from trying to get money, but I'd imagine it makes it less likely.

[cabbageandribs1875]

quite a few voting against the re-election of Douglas Park as chairman though still expected to get it

Club 1872 to vote AGAINST Rangers chairman Douglas Park as fan group reveal their stance on 3 AGM issues (msn.com)

[Donegal Hibby]

Rangers liquidators finally agree settlement .
https://www.thescottishsun.co.uk/spo...mrc-creditors/

[happiehibbie]

this whole case has cost the scottish taxpayer fortunes

[CropleyWasGod]

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this whole case has cost the scottish taxpayer fortunes

To be pedantic, it's the UK taxpayer. The whole debacle happened at a time when we didn't have access to our own Income Tax receipts.

[Winston Ingram]

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To be pedantic, it's the UK taxpayer. The whole debacle happened at a time when we didn't have access to our own Income Tax receipts.

However, the malicious prosecution of Sevco has cost the Scottish Taxpayer £51m