Generic Sevco / Rangers meltdown thread

[Keith_M]

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Any idea how many they had last season?

IIRC, it was around 28,000.

[PatHead]

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IIRC, it was around 28,000.

The hun next door told me they had only sold 18000 so far. Sounds like King's boycott is still working.

[JeMeSouviens]

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Any idea how many they had last season?

As of Dec 31 2014, they had 24,589, they might've sold a few more half seasons.

So taking the 21500 at face value (and remember it's coming via Fat Slug Traynor's PR firm and they don't have a stock exchange to report the truth to any more), they've lost about 15% of their core support. They might get a few more boycotters returning but I think they're probably looking at the 25-30k range, well short of the laughable 45k target.

Their cost base is still enormous too!

[greenginger]

Surely some pedant can go onto the Season ticket website and count the dots.

[Ozyhibby]

21000 season tickets will only be about £6m. Well short of the type of revenue they need.
And remember, this is their only source of income.
All the other normal income streams have been sold.

[Jim44]

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21000 season tickets will only be about £6m. Well short of the type of revenue they need.
And remember, this is their only source of income.
All the other normal income streams have been sold.

I think their season tickets have still to go on open sale so how many they will sell is an unknown quantity. If the figure is below 45k, King has said he will make up the shortfall. 'Money where mouth is' time is looming for their saviour.

[MKHIBEE]

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What does WATP mean? Should it not be WASP if he want to ingratiate himself?

"We Are Total Pish"

[Onceinawhile]

Think it's 21,000 renewals. Would imagine they'll shift a wedge more though. Would imagine this is why they've been sluggish in the market for players.

[Just Alf]

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Surely some pedant can go onto the Season ticket website and count the dots.

No worries.... I've got this...

1, 2, 3, 4, 5, ......... 99, 100, 101, 102.......

..... 1875, 1876, 1877, 1878.....

20100, 20101.........

20179, 201 err 80.... 20081.... Ummm .... Sigh!


1, 2, 3, .........

[Springbank]

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Think it's 21,000 renewals. Would imagine they'll shift a wedge more though. Would imagine this is why they've been sluggish in the market for players.

I don't think they'll sell any more than 750 more

That's their max

King is learning (as perhaps rod did a few years ago) don't do things that drive fans away, however well intentioned you may be. Lots won't come back til there are players who excite you, but you can't afford those players with fewer season books.

I'm glad we've got leanne, Scott Allan, and the rest now
Unlike the Sevco, we are well worth watching!

[Eyrie]

They're going to need to shift a few more season tickets to pay their ex-players even more money for not playing for them.

[Ozyhibby]

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They're going to need to shift a few more season tickets to pay their ex-players even more money for not playing for them.

Are there points deductions these day for wages breaches?

[Eyrie]

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Are there points deductions these day for wages breaches?

I think so, so that could make it even more interesting

[Nutmegged]

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I think their season tickets have still to go on open sale so how many they will sell is an unknown quantity. If the figure is below 45k, King has said he will make up the shortfall. 'Money where mouth is' time is looming for their saviour.

45k is pie in the sky, they got 38k in defiance when they were "reborn" in the third division, that figure decreased the following Season and last year they got 28k, 5k of that came in half Season tickets at Xmas

I do think they'll hit 28-30k but not much more than that and while it'll be a damn site more than all but about 10/11 clubs in Britain it will not be enough to make them financially viable, money the board will need to put in will be for the upkeep of the Football Club, not the first team....well that's of course if they replicate last Seasons wage budget which I do expect them to do

[CallumLaidlaw]

@newsundayherald: Deloitte quits as Rangers auditor over 'threats' to staff
Full story in tomorrow's paper

[iwasthere1972]

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They're going to need to shift a few more season tickets to pay their ex-players even more money for not playing for them.

I think the judge will rule that were on holiday all year round when he watches the video evidence.

[greenginger]

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@newsundayherald: Deloitte quits as Rangers auditor over 'threats' to staff
Full story in tomorrow's paper

http://www.heraldscotland.com/news/h...taff.131035916


The story does not have much detail as to what the threats were about .

[grunt]

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http://www.heraldscotland.com/news/h...taff.131035916


The story does not have much detail as to what the threats were about .

Anyone care to copy the article?

[FranckSuzy]

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Anyone care to copy the article?

"DELOITTE have quit as auditors of financially troubled Rangers after staff received threatening and intimidating messages over a two year period.

In a letter distributed to Rangers International Football Club plc shareholders, Deloitte say the messages came from "anonymous third party sources" during 2013 and 2014.

In a separate letter to shareholders James Blair, the RIFC company secretary said: "The board is disappointed that Deloitte has chosen to resign due to acts which occurred in 2013 and 2014 whilst RIFC was under different stewardship."

South African businessman Dave King and allies took control of the RIFC board from allies of Sports Direct tycoon Mike Ashley in a shareholders vote at an extraordinary general meeting on March 6.

The Deloitte letter dated June 19 states: "We have decided that we no longer wish to carry on as auditor to the company.

"During the period of our audit appointment in 2013 and 2014, members of our engagement team and other Deloitte partners unconnected with the audit received threatening or intimidating messages from anonymous third party sources.

"The safety and wellbeing of our staff is of paramount importance, and they should not be subject to this treatment when undertaking their normal professional duties. Accordingly we are resigning as auditors to Rangers International Football Club plc."

Blair told shareholders there had been "positive discussions" ongoing with "alternative auditors" and that an announcement on an appointment will be made "in the near future".

The announcement to shareholders comes three months after the latest half-yearly RIFC accounts said that the Rangers holding company had appointed London-based accountants Jeffreys Henry to act as independent reporting accountants after discovering Deloitte had announced an "intention to resign" following the June 2014 audit.

Acting chairman Paul Murray said at the time that the previous board "chose not to announce this nor did they find a replacement".

At the time the board said it would make "a further announcement on this subject once we have found a replacement firm for Deloitte".

The board said the financial statement made for the six month period to December 31 2014 was made on a "going concern basis", saying it was investigating a "number of options" for future finance and had identified a number of potential investors.

Then, Jeffreys Henry said there remains "the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern".

The board also said it was continuing to investigate options regarding replacing the nominated adviser, which acts as a stock market regulator.

It came after Manchester-based WH Ireland quit as the club's stock market nominated adviser (Nomad). That led to shares in the holding company Rangers International Football Club plc being suspended from trading on the Aim stock market on March 4.

RIFC are still trying to find an alternative trading platform for shareholders. Deloitte were unavailable for further comment."

[grunt]

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Thank you.

[Spike Mandela]

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http://www.heraldscotland.com/news/h...taff.131035916


The story does not have much detail as to what the threats were about .

The Rangers just get more and more embarrassing and we can all imagine what nature the threats were from the brave anonymous Rangers 'brown shirts ' were.

[Oscar T Grouch]

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The Rangers just get more and more embarrassing and we can all imagine what nature the threats were from the brave anonymous Rangers 'brown shirts ' were.

We don't need to imagine, their MO was the same in the old club and remains in the new club. These threats will have been of death and violence. It show that the hardcore of their fans are criminally minded, violent idiots.

[greenginger]

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We don't need to imagine, their MO was the same in the old club and remains in the new club. These threats will have been of death and violence. It show that the hardcore of their fans are criminally minded, violent idiots.

Deloittes also audit a couple of animal testing labs and fracking outfits so I don't think a few threats from deluded keyboard warriors will be enough to scare them off.

Presumably the threats stopped when the real Rangers men took control.

Maybe its just a good excuse to sever ties with a basket case of an company.

[sahib]

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21000 season tickets will only be about £6m. Well short of the type of revenue they need.
And remember, this is their only source of income.
All the other normal income streams have been sold.

If what you say is true, then Mike Ashley should be given an award for services to Scottish football.

[brog]

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Deloittes also audit a couple of animal testing labs and fracking outfits so I don't think a few threats from deluded keyboard warriors will be enough to scare them off.

Presumably the threats stopped when the real Rangers men took control.

Maybe its just a good excuse to sever ties with a basket case of an company.

I didn't realise threatening, em accountants, was also in the finest traditions of this grand old (2yo) club! I wonder if Warburton's learned the words to Derry's Walls yet? Basket case doesn't even begin to describe this vile institution.

[Cropley10]

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Deloittes also audit a couple of animal testing labs and fracking outfits so I don't think a few threats from deluded keyboard warriors will be enough to scare them off.

Presumably the threats stopped when the real Rangers men took control.

Maybe its just a good excuse to sever ties with a basket case of an company.

Not sure why threats stopped when the new board arrived. The WATP mentality is to threaten anyone who they feel is against them.

Deloitte were, IMO, not at all comfortable that The Rangers were trading whilst insolvent- and must have been dead keen to get away.


Sent from a phone

[Springbank]

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Not sure why threats stopped when the new board arrived. The WATP mentality is to threaten anyone who they feel is against them.

Deloitte were, IMO, not at all comfortable that The Rangers were trading whilst insolvent- and must have been dead keen to get away.


Sent from a phone

This would be the perfect moment for the fat gardener to reappear

Just like when he said of the SPFL committee:

"we demand to know the names of those involved"

*when a rangers board member was present in the meeting

So now he can demand to know the names of the accountants

*who were appointed by the Rangers board

And the reason he should do this: tradition :)

[greenginger]

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I didn't realise threatening, em accountants, was also in the finest traditions of this grand old (2yo) club! I wonder if Warburton's learned the words to Derry's Walls yet? Basket case doesn't even begin to describe this vile institution.

Derry's Walls

Is that the one that starts,

" The cry was no attenders "

[Bostonhibby]

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Derry's Walls

Is that the one that starts,

" The cry was no attenders "

or was it
"The cry was tax offenders

Offended then they died"

[Betty Boop]

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Deloittes also audit a couple of animal testing labs and fracking outfits so I don't think a few threats from deluded keyboard warriors will be enough to scare them off.

Presumably the threats stopped when the real Rangers men took control.

Maybe its just a good excuse to sever ties with a basket case of an company.

The Council also used them to consult on the massive cuts they will be making.