Generic Sevco / Rangers meltdown thread

[Cheshire Hibee]

How can they continue to keep going lost £11.3 million to the year end 30th. June


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[Ozyhibby]

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How can they continue to keep going lost £11.3 million to the year end 30th. June


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And a wage bill of £35m now which is similar to Celtics explains why it’s getting closer at the top.
https://www.bbc.co.uk/sport/amp/foot...mpression=true


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[Billy Whizz]

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And a wage bill of £35m now which is similar to Celtics explains why it’s getting closer at the top.
https://www.bbc.co.uk/sport/amp/foot...mpression=true


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The financial year under review was again a positive one," said chairman Dave King.

They lost £11.3m

[HoboHarry]

What is their total debt now? Anyone know?

[Billy Whizz]

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What is their total debt now? Anyone know?

No idea, but Stevie G’s demands have brought them some European success, but it’s also a big noose round their neck if it doesn’t continue

[brianmc]

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What is their total debt now? Anyone know?

No idea. But today's figures apparently are an improvement of £3 million on last year's losses...
They also don't include this season's spending, £7½ million on Ryan Kent for example.
So I reckon they must be close to £30 million in the red by now...?

[HFC 0-7]

And they need another £10m for the rest of the season???

[Billy Whizz]

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And they need another £10m for the rest of the season???

Morelos

[Tyler Durden]

It’s not unrealistic that they could be playing Champions League football next season. They only really need to make the group stages to recoup 2-3 years of losses.

[HFC 0-7]

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It’s not unrealistic that they could be playing Champions League football next season. They only really need to make the group stages to recoup 2-3 years of losses.

They won’t recoup anything, they will continue spending more than their income until they are beating and winning the league.

[Speedway]

Where do FFP rules come into this, if at all?

[Tyler Durden]

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They won’t recoup anything, they will continue spending more than their income until they are beating and winning the league.

They’d have already won the league. Plenty teams have spent more than their income.....to grow their income.

If they can’t win the league then they’re in trouble

[DaveSo]

Car crash figures.
Released on a Friday night yet again to avoid any serous questions from media or fans with half a brain.
They have gone "all in" this season to win the league.
Failure and they are finished - again.

[Billy Whizz]

Seemingly lost their last 6 games at Hampden, surely won’t be 7

[Ozyhibby]

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Where do FFP rules come into this, if at all?

They don’t. Scotland doesn’t have any and UEFA are toothless.


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[Fuzzywuzzy]

The article says debt was soft loans which was converted to shares so does that mean their current debt is what they have announced? Have I over simplified that?

[Bostonhibby]

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The article says debt was soft loans which was converted to shares so does that mean their current debt is what they have announced? Have I over simplified that?

Debt for equity is fine, the now defunct Glasgow rangers did it for a while and the masters of it were the pre administration Heart of Midlothian. Unless the SPFL intervene it's all good.

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[Rumble de Thump]

Any team in Scotland could potentially qualify for the Champions League if they spent tens of millions of pounds they don't have. The authorities won't do anything because they didn't want Rangers to die in the first place. They and the media have done whatever they could to ensure Sevco got into the top 2 in Scotland and pretend they are Rangers. Like nothing ever happened.

[Cheshire Hibee]

https://www.skysports.com/share/11851508

£5 million loan repayable in October 2021


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[jacomo]

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https://www.skysports.com/share/11851508

£5 million loan repayable in October 2021


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Kin ell. How long can this continue?

Might be a new club but it’s still a basket case. Against my expectations, Gerrard has done really well. Without European competition they’d be even more ****ed.

[Jack Hackett]

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Kin ell. How long can this continue?

Might be a new club but it’s still a basket case. Against my expectations, Gerrard has done really well. Without European competition they’d be even more ****ed.

While there's a good chance of Scotland getting a 2nd CL spot in 21/22, the SFA will continue to look the other way.

[FilipinoHibs]

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Debt for equity is fine, the now defunct Glasgow rangers did it for a while and the masters of it were the pre administration Heart of Midlothian. Unless the SPFL intervene it's all good.

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The creditors of the loans are screwed. You can't shift that value of shares on an unlisted share market. There are no buyers for these shares as the business essentially insolvent. They will never get their loans back and they are essentially written off. Vlad did this with UBIG loans to Hearts with Ukio Bankas making the loans to UBIG. Rangers business model is not sustainable unless fans come up with £10 million to the end of the season to try and stop 10 in a row. Then they have another season to stump up £25 million to see it out. Unless they sell players in January they have had it.

[Bostonhibby]

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The creditors of the loans are screwed. You can shift that value of shares on an unlisted share market. There are no buyers for these shares as the business essentially insolvent. They will never get their loans back and they are essentially written off. Vlad did this with UBIG loans to Hearts with Ukio Bankas making the loans to UBIG. Rangers business model is not sustainable unless fans come up with £10 million to the end of the season to try and stop 10 in a row. Then they have another season to stump up £25 million to see it out. Unless they sell players in January they have had it.

Fair cheered me up that has.

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[ballengeich]

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The creditors of the loans are screwed. You can shift that value of shares on an unlisted share market. There are no buyers for these shares as the business essentially insolvent. They will never get their loans back and they are essentially written off. Vlad did this with UBIG loans to Hearts with Ukio Bankas making the loans to UBIG. Rangers business model is not sustainable unless fans come up with £10 million to the end of the season to try and stop 10 in a row. Then they have another season to stump up £25 million to see it out. Unless they sell players in January they have had it.

They have wealthy supporters who are continuing to subsidise their losses by taking shares, fully aware that these are worthless. The plan has been to lose a few million each year until European income plus transfer profits put them on a roughly equal financial and playing footing with Celtic. That can be expected to continue and they have some players who're sellable so I don't see the company collapsing unless further additional expenses arise (step up Mike Ashley).

How do you calculate a figure of £25m for next season? I'd expect the next loss to be fairly similar to this if on-field performance is similar.

[cabbageandribs1875]

meanwhile their utter low-life s cummy fans are never far away from the headlines

https://stv.tv/news/west-central/144...VG1LSO25NenyzA


Tommy Burns' son has hit out after a video showing fans on a Rangers supporters' bus singing an offensive song about the Celtic legend and Scott Brown's late sister surfaced online.
In the video, appearing to be filmed on a supporters' bus following Rangers' trip to Ross County on Wednesday, the former Celtic player is targeted alongside Fiona Brown, who died aged 22 in 2008 after a battle with cancer.


they arra peeple,eh

[Keith_M]

The Rangers make massive loss > The Rangers exchange soft loans for shares > Claims of needing another x-million pounds to see the season out > . Fans of other clubs get their hopes up that they'll finally disappear for good > They reappear next season... just as ugly.


...and repeat ad-infinitum.

[CMurdoch]

European football gate and prize money is the key to holding the gamble together.
This season and last have been a success for them.
They will need similar European success next season to keep the plates spinning.
There is no turning back for them now, they are well out to sea.

[Ozyhibby]

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European football gate and prize money is the key to holding the gamble together.
This season and last have been a success for them.
They will need similar European success next season to keep the plates spinning.
There is no turning back for them now, they are well out to sea.

It really needs Champions league revenue to keep it all going. Even with Europa league they are losing more than £10m per annum.
I’m amazed they seem to have people willing to throw money away to the tune of £10m a year so far but I would think that there can’t be many such people out there and they must surely run out soon.


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[PatHead]

What happened to Dave King's fit and proper investigation?

[FilipinoHibs]

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The Rangers make massive loss > The Rangers exchange soft loans for shares > Claims of needing another x-million pounds to see the season out > . Fans of other clubs get their hopes up that they'll finally disappear for good > They reappear next season... just as ugly.


...and repeat ad-infinitum.

Not sustainable. All a gamble to stop 10 in a row. They need to cough up another 10 million till the end of the season. If they don't stop 10 in a row they will have to double up for next season. Then they will pull the rug win or bust.