Generic Sevco / Rangers meltdown thread

[PatHead]

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.... and it still craps on everyone else's garden.

[lapsedhibee]

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A friend's Golden Labrador he had for years died. They got another one, it looks the same to me, is his pet, its a labrador, gold, still goes for a walk with him but it isn't the same. His other dog is died and isn't coming back.

Exactly. (Whereas if your friend had been smart enough to call his/her new dug The Fido, it would be the same dog and the previous dog wouldn't have died at all.)

[ian cruise]

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I hate rangers with a passion but one thing I have to hold my hands up to is te crowds they still get in division three. Pretty impressive

I was at the game yesterday (owed it too my mate, I've made him sit through some pretty terrible Hobs games in the past including the Elfsborg tie a few years back) and though there was pretty much a full house the atmosphere was terrible. Everyone around me was just sitting chatting about everything bar the game.

[YehButNoBut]

Smith back at Ibrox

http://www.bbc.co.uk/sport/0/football/20292601

Walter Smith has returned to Ibrox as a director of Rangers.

Smith, who has accepted a non-executive role on the board along with Ian
Hart, won 10 league titles over two spells as Rangers manager.

"It is a great privilege to serve the Club that means so much to me," he told
the club's website.

Current boss Ally McCoist, who previously served as Smith's assistant,
believes the 64-year-old's "presence will be a huge benefit to the club".

"I am delighted to see Walter involved in the Club again," McCoist said.

"He brings tremendous experience, he has done it all and is a Rangers man
through and through. I also support Ian's appointment to the board as he has
done a lot for the youth squad over the years."

Chairman Malcolm Murray and chief executive Charles Green also welcomed the
appointments with the latter commenting: "It is extremely important to have a
board that has the respect of investors and Rangers supporters.

"The consortium I led to buy the club are not Rangers people but there could
be none better than Walter and Ian to fill that void and we are delighted they
have agreed to become non-executive directors to broaden the skills and
qualifications of the board."

[ballengeich]

This is going around as CG's presentation to institutional investors :-

https://skydrive.live.com/view.aspx?...app=PowerPoint

I've seen more convincing documents involving Nigerian bankers. The only evidence that this is not a hoax is the standard of their presentation to the SPL meeting which didn't allow the share transfer.

[PatHead]

So the institutional investors are going to rush because St Mirren and Birmingham turned down takeovers (assume this is to make football looking like an attractive investment) How stupid do they think these people are?

BTW Openly mentions that Celtic and Rangers want out of Scottish football. Wonder how Celtic feel about being part of Rangers share offer.

[JeMeSouviens]

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So the institutional investors are going to rush because St Mirren and Birmingham turned down takeovers (assume this is to make football looking like an attractive investment) How stupid do they think these people are?

BTW Openly mentions that Celtic and Rangers want out of Scottish football. Wonder how Celtic feel about being part of Rangers share offer.

It also openly mentions that that is the long term purpose of the "colt" teams.

[Matty_Jack04]

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It also openly mentions that that is the long term purpose of the "colt" teams.

Looks like its going to be time to put our disagreements to the other member clubs AGAIN I'm certainly not willing to sit back and watch these idiots restructure Scottish football for the sole benefit of these 2 clubs especially that one of them has been found out to be cheating and is in the lower teir of Scottish football still attempting to pull the strings.
I would rather we all had a fair system and fair league without the Glasgow brothers and struggled with money rather than give them 2 sides each and then let them slip off down south or wherever and leave us with reserve sides, it's massively disrespectful to every other club and when the time came for their first teams to leave we'd all suffer reductions in everything as companies won't pay the same for coverage of e.g hibs v Celtic II

also let's not forget that it was these 2 teams that got the reserve league scrapped! Making it more difficult for the young guys to make the step to the first team now they want there young guys playing competitively every week whilst we all make do with U19 leagues

[Keith_M]

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This is going around as CG's presentation to institutional investors :-

https://skydrive.live.com/view.aspx?...app=PowerPoint

I've seen more convincing documents involving Nigerian bankers. The only evidence that this is not a hoax is the standard of their presentation to the SPL meeting which didn't allow the share transfer.

It says that Ibrox Stadium and Murray Park were independently valued at 79M. If so, how come Chuckie got the lot for 5.5M?

[CropleyWasGod]

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It says that Ibrox Stadium and Murray Park were independently valued at 79M. If so, how come Chuckie got the lot for 5.5M?

Can't see that bit. What page is it on?

[greenginger]

I heard a good story last week from a relative who works for a large Edinburgh based financial institution (who happen to sponsor a Dutch football club ).
Anyway their investment arm was holding its usual series of meetings with various people who were making their pitches ,looking for all types of funding.

Anyway an inexperienced assistant had booked a slot for the Sevco pitch but when they it was found out who they were they were sent packing, not even allowed in the room.

[Keith_M]

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Can't see that bit. What page is it on?

Sorry, just tried to look at it again and I now can't access the document. The site is asking for login details, which it didn't do earlier. Is anyone else having the same trouble?

Anyway, there's a slide in there somewhere that mentions the valuations as 65M for Ibrox and 14M for Murray Park. Possibly slide 6.

[PatHead]

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Sorry, just tried to look at it again and I now can't access the document. The site is asking for login details, which it didn't do earlier. Is anyone else having the same trouble?

Anyway, there's a slide in there somewhere that mentions the valuations as 65M for Ibrox and 14M for Murray Park. Possibly slide 6.

I'm the same. One other thing I noted was that they have a list of salaries paid by SPL clubs. Firstly they should be comparing themselves to their competitors in the 3rd division and secondly they showed everyone else as 2011 figures whilst theirs were estimated for 2012. Most SPL clubs have dropped their salaries dramatically.

[joe breezy]

Celtic Quick New reaction

http://www.celticquicknews.co.uk

Charles Green told TalkSport, “Scottish football effectively is Rangers and Celtic. I mean, there are many other clubs but everyone has to acknowledge that that’s a fact.”


No, no, no, no. No. This is not a fact, it is not even a credible opinion. Instead it is deeply insulting to dozens of teams who conduct their business properly year after year. I have to ask, does he want this project to fail? He is effectively saying – Vote for this plan, you are irrelevant, we are all that matters and this suits our purposes.

It was this erroneous attitude which led to predictions of Armageddon this season. Instead, the long-suffering clubs who have paid their bills, while others put money which should have gone to the tax man towards buying fooballers, are enjoying a rebirth.

Green added, “Scottish football needs Rangers back at the top and Rangers being a vital part of European football. That’s where we’re trying to get them.”

This is a great season for the SPL. Financially responsible Hibs, who lost the Scottish Cup final to irresponsible Hearts, are top. Celtic, with their manageable, low, debt, have just beaten Barcelona in the Champions League. Aberdeen have their best team in years. Attendances are up for most clubs.

Before adding, “The Old Firm is the world’s biggest derby. That’s what world football wants, what broadcasters and sponsors wants, to see those games again. God willing we’ll see that in the years ahead.”

“The Old Firm” is not the world’s biggest derby, it’s not even Glasgow’s biggest derby. It doesn’t exist anymore. As for it being “what world football wants”! Oh dear. World football has better things to concern itself with, and don’t bring God into it!

The authenticity of the “Rangers Football Club plc” slideshow presentation which appeared last night is not confirmed, but I hope it’s genuine. It is, literally, fantastic. Notions contained therein that provide for “colts” teams and league reconstruction which “could see Rangers progress faster through the domestic league structures” bring it into perfect alignment with the Scottish Football League plans, which earlier this week Charles Green revealed would be presented today.

I also loved the first point on the summary page, “Profitable business model using prudent assumptions”, despite no mention of future costs, or revenues, in the presentation. Nice that they have confirmed revaluations of property assets at £79m, a fraction of the value the assets were disposed for in the summer.

This will not end well.

[BonnieFitbaTeam]

The £65m and £14m figures quoted by Keekaboo were indeed the figures used in the document. "...professionally valued..." was the term used. Got themselves a bargain there, eh !

The bit that made me laugh was their boast that season ticket prices had been reduced for this season and were now 33% lower than Sellick's. I should ****in' well think so, three divisions lower !

Document is risible.....if it's genuine.

[CropleyWasGod]

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The £65m and £14m figures quoted by Keekaboo were indeed the figures used in the document. "...professionally valued..." was the term used. Got themselves a bargain there, eh !

The bit that made me laugh was their boast that season ticket prices had been reduced for this season and were now 33% lower than Sellick's. I should ****in' well think so, three divisions lower !

Document is risible.

Those figures weren't in the version I saw... but it has now been taken down. The CelticQuickNews piece post suggests it might not be authentic, though.

[BonnieFitbaTeam]

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Those figures weren't in the version I saw... but it has now been taken down. The CelticQuickNews piece post suggests it might not be authentic, though.

That would be a shame

Let's face it, the content of mostly wind and pish is entirely what we've come to expect from that utter tool, Green, so it would be easy to assume that it is genuine.

[StevieC]

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I'm the same. One other thing I noted was that they have a list of salaries paid by SPL clubs. Firstly they should be comparing themselves to their competitors in the 3rd division and secondly they showed everyone else as 2011 figures whilst theirs were estimated for 2012. Most SPL clubs have dropped their salaries dramatically.

They also had, excluding TV money, Aston Villa (avg. att. 33k) generating more income than Newcastle United (avg. att. 50k). And Spurs (avg. att. 36k) generating more income than both of them combined.

I've no idea what the actual figures are but at first glance most of the bar charts seemed to be "made up". Or at worst, massaged to suit.

[VickMackie]

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It says that Ibrox Stadium and Murray Park were independently valued at 79M. If so, how come Chuckie got the lot for 5.5M?

They actually got them for 1.5 million if you check the breakdown of the 5.5.

I said the same last night. Biggest stitch up ever.

[Kaiser1962]

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They also had, excluding TV money, Aston Villa (avg. att. 33k) generating more income than Newcastle United (avg. att. 50k). And Spurs (avg. att. 36k) generating more income than both of them combined.

I've no idea what the actual figures are but at first glance most of the bar charts seemed to be "made up". Or at worst, massaged to suit.

What a pity he has zero chance of playing in England then

[euansdad]

The same old arrogance remains with them. Unbelievable. Im sure they think the rest of us should be grateful for the mighty rangers existence

[YehButNoBut]

On STV news just now that Green intends to impose a stringent wage cap at Rangers so that Rangers wages will never be more than 33% of their turnover.

Much lower than current SPL clubs which is around 61% (apart from Hearts that is who are around 120%).

This would obviously mean little or no chance of glamour signings in the future.

He has said that the players and staff can forget about "crazy" wages in the future.

[green glory]

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On STV news just now that Green intends to impose a stringent wage cap at Rangers so that Rangers wages will never be more than 33% of their turnover.

Much lower than current SPL clubs which is around 61%.

This would obviously mean little or no chance of glamour signings in the future.

He has said that the players and staff can forget about "crazy" wages in the future.

Too busy watching Rona Dougall to take much in lol.

[YehButNoBut]

Full details here http://local.stv.tv/glasgow/200640-r...o-revive-club/

Rangers' owners are planning to impose a strict wage cap and sharply increase season ticket prices as a key part of their share offering.

Documents seen by STV's Scotland Tonight programme show that the consortium behind Rangers wants to restrict wages to 33% of turnover, barely half the average ratio for SPL clubs. The owners also plan to increase season ticket prices by 20% in 2014 followed by a further 15% hike the following year as the club is expected to climb up through the divisions.

Notes from broker Cenkos Securities, seen by STV ahead of the stock market flotation of The Rangers Football Club Ltd next month, reveal the season ticket prices would return to similar levels as last season, prior to the financial collapse of the oldco.

Cenkos’s projections state that although the company will run at a £3.5m operating loss in 2013, it could bring in an operating profit of £10.9m in 2015. Rangers chief executive Charles Green has endorsed the pre-initial public offering notes made by the brokers.


The severe constraints would put top European players beyond Rangers' reach, but the brokers believe that fiscal discipline will give the club a long-term advantage over "irrational competitors". The projections by Cenkos claim that the value of shares in the newco club could “more than double in three years”, but this has been described as unrealistic by football finance expert Neil Patey.

According to the brokers, Rangers directors are committed to a maximum ratio of players' wages to turnover of 33%, which is almost half of the 2010 Scottish Premier League average ratio of 61%, while English Premier League clubs sit at a current wage-to-turnover ratio average of 70%.

The notes state that in 2013 the first team payroll is to constitute 26% of all revenues with it currently sitting at around £7.5m, which will reduce to 18% of all revenues in the next two years as Cenkos predicts turnover to hit £46.5m by 2015.

Cenkos states that it “believe that this will be achievable with our growth revenue forecast and the current level of players wages being paid gives significant room for manoeuvre.”

The brokers also believe that the policy would be in line with UEFA’s financial fair play regulations, which stipulate that wage-to-turnover ratio should not be higher than 60%. Cenkos states: “We suggest that investors should take comfort from UEFA’s reforms which are designed to end financial instability within football clubs.

"We believe the high level of player wage inflation and transfer fees driven by irrational competitors will be significantly reduced and, as one of the 20 best supported teams in Europe, the requirement for clubs to live within their means should work towards Rangers’ competitive advantage.”

Comparisons in the document are made to Celtic and Manchester United’s share market flotations as successes, with the brokers stating: “In our view the old notion that revenues from television are the only driver of value for football clubs has proven to be incorrect and it is the potential for selling branded product on a global, multi-channel, basis that has resulted in the value of the leading football clubs appreciating significantly in the past decade.”

The forecast is based on several assumptions set out in the document, including the season ticket price increase, as well as a £1.5m reduction in unspecified overheads. According to Cenkos, non-matchday cash, including the £3m-a-year retail deal with Sports Direct, will bring in £17.5m in 2012-13 financial year, out-weighing matchday revenue of £13.5m. For the 2012/13 Third Division season, Rangers raised £8m through selling 36,000 Ibrox season tickets this year and £1m from corporate hospitality sales, according to the document.

The consortium led by Mr Green purchased the club’s assets from oldco Rangers, now RFC 2012 Ltd, in a £5.5m deal in June after administrators Duff and Phelps failed to maintain it as a going concern.

Mr Green and his group are aiming to raise around £20m through the initial public offering, with payments scheduled to be processed on the scheme by December 17.

Directors of the club are currently involved in road shows pitching the flotation to fans groups and possible investors across the UK.

In 2000, under Sir David Murray, oldco Rangers, now RFC 2012 plc, was floated on the stock market with the aim of raising £53.1m to pay off some of their debts. This resulted in £38m of investment, £32.3m of which was from Sir David's Murray Sports Ltd and the remaining £6m from around 3500 small shareholders.

Four years later Sir David oversaw another share issue which aimed to raised £57m for Rangers. It brought in £51m, only £1m of which was from the fans - the rest being underwritten by the Murray MHL Limited, one of the owner's companies.

This came after the Rangers Bond scheme in 1991, which saw 6700 fans raise £8.5m through buying debentures to construct the Club Deck at Ibrox Stadium. When Rangers went into administration, those who bought into the scheme became creditors.

[steakbake]

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On STV news just now that Green intends to impose a stringent wage cap at Rangers so that Rangers wages will never be more than 33% of their turnover.

Much lower than current SPL clubs which is around 61%.

This would obviously mean little or no chance of glamour signings in the future.

He has said that the players and staff can forget about "crazy" wages in the future.

About the first thing he's said that I agree with.

[SurferRosa]

Apologies if this has already been posted. Paul McConvilles analysis of Rangers IPO....very interesting, especially page 8..


http://scotslawthoughts.wordpress.co...ion-pages-1-3/

[PatHead]

One of the things that jumped out at me was the phrase "bank debt". Why only bank, iit surely hints that they will have debt elsewhere or am I being niave?

[green glory]

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One of the things that jumped out at me was the phrase "bank debt". Why only bank, iit surely hints that they will have debt elsewhere or am I being niave?

Another qualifier, like the use of 'no external debt' in the initial share offer. There's debt to be sure. To the investors.

[StevieC]

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Apologies if this has already been posted. Paul McConvilles analysis of Rangers IPO....very interesting, especially page 8..


http://scotslawthoughts.wordpress.co...ion-pages-1-3/

Has it been removed??

EDIT: I see that there are strong rumours that it was a fake.

[Ozyhibby]

FTTT released? Lot of twitter chat. Anyone know?