Generic Sevco / Rangers meltdown thread

[ballengeich]

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It looks like you can still compete but only under strict financial supervision to break even. That means no more soft loans etc. That means cutting the wage bill to fit the revenue coming in. Will the Sevconians tolerate that? Will they still keep buying season tickets knowing their player budget will be about a quarter of Celtics? No more going for #55 sales pitch? And if sales drop the player budget would have to drop again to match. Qualifying for Europe could be a double edged sword.


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Supervision by UEFA might even suit the Ibrox board. "The warchest's there, honest, but UEFA won't let us spend it".

Next season they'll be increasing ticket prices, they'll have increased central prize money from the SPFL and probably some European income. When the 15-16 accounts were issued in the autumn a figure of £3m in soft loans was quoted as being needed for this season. If that turns out to be correct then that additional income could allow them to break even in 17-18 while roughly keeping this season's level of spending.

I agree with your point about the possibility of season ticket sales falling away if the bears can't see anything better than a distant second in store.

In the closer future the big threat isn't the loss on normal trading, it's the court cases being raised by Warburton's management team and Ashley's companies. The amounts involved there could be bigger than the trading or accounting losses if they lose all the cases. We don't know how capable the directors are of covering these possible liabilities.

[PeeKay]

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He only "own"s a third of the bank which by your logic would mean that he doesn't "own" Celtic?

Yes

[GreenLake]

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Yes

So who owns Celtic or the Latvian Bank? Hawley Griffin?

[Mr White]

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So who owns Celtic or the Latvian Bank? Hawley Griffin?

We do. If it wasn't for us they'd be huns.

[jabis]

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We do. If it wasn't for us they'd be huns.

Liked that

[Stonewall]

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Initial thoughts.

1. they're not audited.
2. they made a loss, not a profit as it's being spun.
3. There is no Balance Sheet. It's impossible to make any judgement on their position without that.

Any significance that the financial information is in respect of RIFC, not TRFC?

[GreenLake]

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We do. If it wasn't for us they'd be huns.

[CropleyWasGod]

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Any significance that the financial information is in respect of RIFC, not TRFC?

Who can tell? 😉

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[greenginger]

The rangers vs rangers retail case got underway today.


https://stv.tv/news/west-central/138...chandise-deal/

The rangers case seems to be based on the claim that " rangers fans don't like the deal ! "

Open and shut case normally, but this Court is in London.

[Stonewall]

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Who can tell? 😉

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Don't know if it's just the way my mind works but I wonder which entity is granted the licence to compete in UEFA competitions with reference to FFP. Could they dump all the debt with say TRFC and RIFC apply for the FIFA licence.

[TrinityHibs]

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We do. If it wasn't for us they'd be huns.

We certainly own the huns

[Ozyhibby]

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Don't know if it's just the way my mind works but I wonder which entity is granted the licence to compete in UEFA competitions with reference to FFP. Could they dump all the debt with say TRFC and RIFC apply for the FIFA licence.

Pretty sure it's TRFC which is the 'club' for the purposes of licensing. I'm not sure if it matters where the debt is for that? The trading losses have been incurred by the 'club'.


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[CropleyWasGod]

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Pretty sure it's TRFC which is the 'club' for the purposes of licensing. I'm not sure if it matters where the debt is for that? The trading losses have been incurred by the 'club'.


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That's my understanding.

The FFP rules are not just about debt, but losses as well.

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[Jack Hackett]

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That's my understanding.

The FFP rules are not just about debt, but losses as well.

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...so getting pumped at Hampden last May counts against them as well?

[HoboHarry]

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...so getting pumped at Hampden last May counts against them as well?

Sometimes. It's a Gray area...........

[Ozyhibby]

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That's my understanding.

The FFP rules are not just about debt, but losses as well.

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In that financial statement yesterday, where is the £2.9m loans they received in October? Does that show on there?


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[northstandhibby]

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The rangers vs rangers retail case got underway today.


https://stv.tv/news/west-central/138...chandise-deal/

The rangers case seems to be based on the claim that " rangers fans don't like the deal ! "

Open and shut case normally, but this Court is in London.

According to the link there's a distinct lack of legal basis upon which to lodge a defense? The outcome can only be in MA's favor unless as you quietly imply the cards are already stacked in favor of a distinctly stone builders type club.

In reality if unbiased it certainly appears the huns have no legal grounds and MA should win his case.

glory glory

[Iain G]

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The rangers vs rangers retail case got underway today.


https://stv.tv/news/west-central/138...chandise-deal/

The rangers case seems to be based on the claim that " rangers fans don't like the deal ! "

Open and shut case normally, but this Court is in London.

Can't work out what is my favourite quote from this article:

Statement A: "He said there was a widespread view that no "self-respecting" Rangers' supporter wore a replica shirt." - never met a self respecting the The Sevco fan in my life....

Statement B: "Whether rightly or wrongly, the supporters see Mike Ashley's primary goal as the making of money at the expense of on-field success." - yeah that's cos he runs a chain of retail stores and not a football club!

[CropleyWasGod]

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In that financial statement yesterday, where is the £2.9m loans they received in October? Does that show on there?


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It was only a trading statement. There was no Balance Sheet.

In other words, kinda meaningless... like an Orange Club biscuit, without the Orange. (work that one up as you will, guys....)

[Bostonhibby]

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It was only a trading statement. There was no Balance Sheet.

In other words, kinda meaningless... like an Orange Club biscuit, without the Orange. (work that one up as you will, guys....)

Or a club, well not the now defunct Glasgow rangers football club anyway.

Not a very nice wrapper either.

[jgl07]

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It was only a trading statement. There was no Balance Sheet.

In other words, kinda meaningless... like an Orange Club biscuit, without the Orange. (work that one up as you will, guys....)

[jacomo]

I have it from a source that Follow Follow was extremely provoked by Hibs.net earlier downtime and has now set fire to the internet.

Can anyone confirm?

[Dan Sarf]

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I have it from a source that Follow Follow was extremely provoked by Hibs.net earlier downtime and has now set fire to the internet.

Can anyone confirm?

Cough, cough, room here filling up with smoke...

[Stonewall]

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Pretty sure it's TRFC which is the 'club' for the purposes of licensing. I'm not sure if it matters where the debt is for that? The trading losses have been incurred by the 'club'.


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Club or club?

[southern hibby]

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Sometimes. It's a Gray area...........

I seen what you did there


GGTTH

[HoboHarry]

See Phil Mac is giving Sevco a real kicking today......

http://philmacgiollabhain.ie/

[HoboHarry]

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I seen what you did there


GGTTH

[CyberSauzee]

This still makes me laugh

https://www.youtube.com/watch?v=H8x_59EjZOs

[660]

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See Phil Mac is giving Sevco a real kicking today......

http://philmacgiollabhain.ie/

Why do all these blogs by Celtic fans have the same bizarre style of writing?

[HoboHarry]

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Why do all these blogs by Celtic fans have the same bizarre style of writing?

Personally I don't care, the content is far better than any of the tosh to be found in the Daily Record et al.......