When it comes to matters, Ibrox, this journalist has always advised that it is wise to follow follow the money.
Consequently, I was pleased to read today that Chief Financial Officer James Taylor was asked a few pointed questions.
One of them was regarding the monies brought in for the five Galacticos that left Sevco in the summer.
The Daily Radar reported:
“When it was listed in the accounts that Rangers received just £800,000 in combined in fees for Todd Cantwell, Scott Wright, Sam Lammers, Connor Goldson and Robby McCrorie fans thought there had to be some sort of explanation. It turns out there WASN’T. There were gasps all around the Clyde Auditorium when chief financial officer James Taylor confirmed that was in fact the case.”
Gasps, dear reader, gasps…
Oh dear.
It would appear that those attending the AGM are somewhat ill-informed about the financial state of play at the basket of assets.
One dignified chap in the hall reported that the following was stated from the top table.
What jumps out is the statement, “We needed to cut the wage bill”.
Well, if there were a functioning Fourth Estate on Planet Fitba, this disclosure would represent the equivalent of a complete sitter in front of an open goal.
The question that follow follows on from this is simple:
WHY DID YOU NEED TO CUT THE WAGE BILL?
Moreover, was it because of UEFA’s new FSR ordinances?
Allow your humble correspondent to translate:
Is the Ibrox business finally being forced to live within its means?
Could that be the real reason for “we needed to cut the wage bill”?
For the avoidance of doubt, these gasp-inducing revelations will seem very familiar to my regular readers.
I have a question
Does that mean that transfer money from the sale of these players went to pay loans of directors and only a nominal fees paid to club…..or does it mean £800000 and that’s it !!!
We’re are they getting the money tae pay Aberdeen for there new superstar Barron ?
From the mid-80s Rangers – with one glorious and brief exception – dominated Scottish football. But as one or two Celtic bloggers kept pointing out, the whole facade was fraudulent. When the day of judgement came and they couldn’t pay their bills the Scottish media dressed the whole fiasco up as an inexplicable act of God. Rangers are still living with the consequences of this cover-up and so are their fans.
Rangers were liquidated
No they’re not, that club was liquidated
Big Den – do you actually read Phil’s blog. The one thing that comes through loud and clear is the number of season tickets sold equates closely to success.
What the non Old Firm clubs need to succeed is grow their own fan base to increase season ticket sales. To compete against Old Firm especially Celtic in 21st century they would also therefore require bigger grounds.
The fact that home supporters do not attend OF games is down to 3 factors.
1)game is live on tv
2)league is not competitive- why turn up to watch your team get hammered?
3)like it or not the majority of Non OzF fans find the behaviour of OF fans objectionable.
Giving OF fans more tickets will not address any of these issues although it may keep the one- eyed OF fans happy.
There is no Old Firm. It ended in 2012 when Rangers FC went bust and the club got liquidated.
Any mention of the Old Firm nowadays just perpetuates the continuity myth. Please don’t do that.
Old Firm ? No longer !
Old Firm???
What is this OF you refer to?
How about this from the Daily Ranger Hotline,
“Come Back Dave King and instil the strict no nonsense football and business ethics of our proud institution. The club and supporters need you again.”
This from yet another Klan member who does not understand irony.
Are 41 business tax convictions and use of tax evasion tactics good business ethics?
Is 12 years of existence enough to count as an institution?
You could not make it up. Or maybe you could from these self-entitled people.
R2ngers have been kicking cans down the road on several fronts and it’s now caught up with them.
What I don’t believe is that £100 milion has been written off / converted to worthless shares. These ” investors” even if died in the wool supporters would want a definite return.
R2ngers will be hamstrung for a while yet.
The biggest laugh in all this is the Club 1872 debacle.
In 2016 (at the start of these equity confetti swaps) Club 1872 has around 7 million shares and a 5% steak in the Clumpany.
Skip forward 8 years and after aquiring approximately 15 million more shares their steak has decreased to 4.96% of the current shareholding.
SEVCONOMICS.
Succulent Lamb
Dundee made nearly double that when they sold 1 (ONE) player to Celtic
Gasp with surprise?? Why can’t they read this blog and educate themselves? Any comments today on the new Cgairman changing his mind? Or has he got a Catholic wife all of a sudden? Phil, to get £100K off wage bill would surely mean Tavernier Butland Dessers Raskin all leaving?
Was hoping someone would ask where the 5 stars went ? Is there a story here?
Cannas stop 😂
For the Rangers fans’ take on this AGM, I’d recommend the ‘rangers rabble’ podcast, done from a car this afternoon … truly hilarious.
At last the penny drops . Penny being the operative word .
What’s funny about that when they say sins of the past, 12 to 18 months ago when the business has been loss making for 10 years and it’s prior existence died through debt and over-spending.
Of course they use the analogy of 12-18 months in a desperate attempt to say ‘But now we have a new board, Tada!! So all is well from now on’.
The Klan will NEVER NEVER allow austerity and 3rd or 4th table finishes. That is what could happen if they live within their means. Of course whilst seeing the Celts get all the big bucks going with success and building their strongest team in decades constantly shredding the rangers when they meet.
To make this real, the bigger supported teams, Hearts, Hibs and Utd need to get professional managers much like Aberdeen have done, who can get the best out of a team.
Hearts, Hibs etc are content to live in their own wee bubble, they’re happy in mediocrity and have no real ambition other than not being relegated. Kudos to Aberdeen for at least trying to show they want to be a bigger force, if others followed them we could have an excellent and much more competitive league. Hearts, Kilmarnock, Dundee utd etc will moan about lack of money but are happy to keep paying customers locked out, while matches are played on TV with empty seats everywhere.! Scottish football badly needs dragging into the 21st century. It’s hampered by it’s social club mentality.!