Regular readers will not be shocked to learn that Sevco is a loss-making business.
Indeed, since they were created in 2012 by Charles of Normandy they have never been anywhere other than in the red.
Since February 2014 the new club has been forced to limp along on external finance.
So it is beyond dispute that the current entity at Ibrox is a loss-making business.
That said the crushingly obvious can sometimes have a fresh resonance if it comes from a new source.
Therefore, it was instructive to read the comments of RIFC director John Bennett.
In the written advice on the financial prospects of the RIFC apropos Mr King’s share offer, he stated: “Rangers International Football Club plc is loss making and is supported by loans from the directors and other key shareholders. This cannot continue indefinitely.”
Mr Bennett then revealed something had already been flagged up here and that was that the chaps in the Blue Room would be going back to The People for more money.
Indeed they will be doing that twice!
In a sense, this was always Mr King’s plan following the success of the Off Licence Putsch in 2015.
He was always going to run the Ibrox outfit on Other People’s Money (OPM).
Mr Bennett further expanded on RIFC’s prospects when he said that it could take another three years to deal with the legacy issues like the Ashley retail deal.
I think that is an optimistic timescale, but he could be correct.
Of course, General Ashley will move his legal divisions at a time of is choosing for maximum impact.
In the meantime, Mr Gerrard continues to contribute to the expanding wage bill at Ibrox.
The extent of that financial damage will not be publicly apparent until the RIFC year end accounts are published in November or December for the AGM.
It is the Ibrox klanbase who will ultimately be the lenders of last resort for the Sevco High Command.
However, this plays out nothing will be Dave’s fault.
It never is…
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Presumably getting bit or non contributing players off the payroll will continue to be part of the plan to reduce losses.
However the Rossiter to Motherwell reported potential move is highly questionable.
A young player with chronic injury problems at Liverpool moves to Rangers.
Result? Same chronic injury issues leading to scarce game time and an apparent inability to complete back to back 90 minutes.
Also, Rossiter is on £10k per week at Ibrox, playing or not.
The top basic number at Well will be £1500 per week.
So the suggestion is that Rangers pick up the £8500 per week difference till the season end hoping the lad stays fit otherwise the undoubted injury clause in the contract will terminate the move?
Can’t see any upside in this for Well.
He’s just stating the obvious. The last set of accounts included forecast cash shortfalls over the next 2 financial years of around £8m in total.
That figure assumed European success and income from player trading.
The Euro run this season will have filled the huge hole in the finances as Gerrard bulked up his squad and management team, not to mention funding the left overs from Pedro’s chaotic reign.
Apart from the reported French bid for the Petted Lip it’s telling that not one of the clubs embroiled in an EPL relegation battle has turned to the Colombian to save the day and the countless millions at stake.
No doubt any potential suitor will have had a good look at him over the months and came to the conclusion that his goals impact would be negated by his on field antics which would result in severe ramifications south of the border where the Lanarkshire Referee Association hold no sway.
Surprisingly promotion of officials in England is based on ability and not on a handshake between the brotherhood.