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Leaving aside his huge faults, it appears that Llambias hit the nail directly on the head when he said: "Show us your money Mr King...Ask him 'where’s your money, Mr King? Who is your Nomad?'" I wonder if RIFC can limp thru next payroll and onto the ST bonanza without another emergency loan from T3B? http://sport.stv.tv/football/clubs/rangers/312723-derek-llambias-asks-where-is-dave-kings-nomad-and-questions-funds/
When's honest Dave gonna splash the £50m/£30m/north of £10m [pick a random number] cambridge? It appears the sales of pies & bovrils has not been as bouyant as you were salivating over.
Yes, I said my calculations were being generous. The fundamental problem is that the income (most of which comes from ST sales in the close season) do not sustain the club throughout the season. If the club is not promoted, I would expect next season's ST sales to be the same or less than this season. If they are promoted, the sales will increase but so too would the costs. Given the annual business plan consists of raking in money in a one-off exercise and effectively committing a year's worth of expenditure up front, it needs all the planning to be right in June/July. Miss that and you have an unavoidable year of pain in front of you - requiring donations or sale of assets to tide you over. I can't see the plan being right this June-July, so that means RFC will not have an opportunity to get a balanced budget in place before July 2016. That's a long way off.
In your calculations you assume that everyone has a standard match day ticket. There were 742 premium, corporate, sponsorship or complimentary match day tickets. Whilst a very small amount of these were single match packages the remaining were paid upfront at the start of the season and the revenue as such will already be accounted for. That is of course if there ever was any revenue:- if my memory serves me right, there are a number of contra deals in place.
From memory, the club was told by auditors that it could not use 2014-15 ST money to support activity in 2013-14; and that the money would be released incrementally to ensure that people who had paid for a season of watching football were likely to see at least a substantial portion of a season of football. I think I read that the final drawdown was before Christmas. Of course, this was all unsubstantiated rumour - who knows what the truth was. As for attemdances, the interim results showed ST sales of 24,589. That means there were 6838 non ST holders at the most recent game. Most of these would have been paying customers, but clubs tend to give out a certain number of complimentary tickets too. Let's assume, though, that they all paid and let us be generous and assume an average ticket price of GBP15 (full price 17, concessions 12, juniors 5) - that would rake in fractionally over GBP100,000. I would be pretty confident that the actual figure would be some way short of that. This is also not terribly different from attendances throughout the season. Therefore I would expect to see the typical monthly expenditure (1.5-1.7m based on loans taken throughout the season) to already factor in these small income streams. The problem remains that the club spends considerably more than it earns; and most income is derived at the start of the season creating a breating space in July-August and a pretty terrible picture once that money has been spent (typically October). As long as the club spends more than it earns, it will be dependent on money sourced from secured loans (sale of assets), soft loans (donations) and sale of equity (donations again). That is not sustainable.
No idea, it was being discussed on here, at length by the anti-brigade. Now when it doesn't suit them they change their tune......
At least now RIFC is delisted, Dave won't have to disclose who he's had the begging bowl out to, nor announce who's loaned the next crust.
After the Masters finishes, will he paying a flying visit to Scotland I wonder or not bothering? Will he be joining the Board and depositing his £30m/£20/£16/north of £10m [select whichever figure you feel like] to pay off big Mike at that time? Or are the 3 Teds to be tapped for another emergency loan?
"Rumour earlier in the year was it would only be released quarterly...." Link us to any credible source which in any way substantiates your made-up "rumour". Who/how/where would be withholding the company's own money from the company after payments for STs were made by fans last summer? Especially when the company needed the money so badly even back then. Face it stuzee - that is just a crock and a bit sad that you are trolling it up.
More than 20k more than were at the game at Ibrox on Feb 8th against the same opposition. We lost that game 2-1. Still if you say things aren't better...
Rumour earlier in the year was it would only be released quarterly....
No it won't, the bulk of that is made up of season tickets and they've already spent all that cash.
70,000 over the two games so far this month, will pay player salaries, might not be able to afford the onerous service contracts, however.
that means around 7K walkup fans, that's not going to pay the wages this month
Official Attendance counting all ST holders as present: 31,427 What happened to all these full houses that cambridge and stuzeetroll promised?
Nice to see 'honest' Dave is spending his time well and is being a bastion of transparency: "But King, speaking exclusively to Record Sport as he watched The Masters at Augusta, is convinced the club will have the crest back in its own hands. No mention was made how that will be achieved but he said: “I’m confident this can all be resolved, of course." http://www.dailyrecord.co.uk/sport/football/football-news/dave-king-hits-back-over-5506108?
I didn't find it but I heard that a bunyip had run off with it somewhere beyond the black stump.
Don't suppose you managed to come across 'honest' Dave's missing investment wad out in the wilderness did you?
I'm back in the land of the living - even if this stock isn't. And happy happy to see the forum still alive and well.
iPox? That's not very respectful. Are you expecting people to take anything you post seriously?
Mr King isn't even on the board. Plus it was the old board who signed up to the deal. Apart from those two minor details, its another cracker of a post from George.
As opposed to the previous regime, who always carried out their duties with the utmost integrity.Do not look at it as 'you got King', try and understand why the old guard had to be toppled. Please change the record. For a laugh, please list your predictions for this calendar year.
Sports direct don't care much who runs a club playing at iPox, as long as they are paid - they pay to call themselves rangers; they pay to use the stadium and they pay through the merchandise It is beginning to look like removing Mr Llambias and Mr Leach was a very foolish move, this caused a default on the loan which not only lost the Intellectual Property but has also lost the iconic Edmiston House and Car park
ashley wanted trademarks ( source pmg who has documented this aim for 4 months) its what ashley does with distressed stocks,... gets thier trademarks. ahsley would delist where possible.... and he steps back with 10% and in comes kingco and they delist so no,blame attached to kingco.... cept stu/cb saying l&l did it ashley wants main assets and to offer loans......check loans secured against assets ashley wants paid even if boycotts....check ... paid if shirts sell or dont ashley does not want legal jeapardy...never at helm when ship sinks.....check.... kingco in legal bind as board they limited to what they can say and do, and criminal charges easy to raise against them, they need liability insurance.. seems ashley wins hands down, only risk is new shareoffer and he is existing holder and could invest or underright offer via loan....
@cb 85% ... thats all but king with his 15%, .?? kingco are concert party with 40% and board control only, need more than 75% for overall controll.... a shareoffer of 40,000,000 shares will allow dilution of any shareholders stockWHO DONT TAKE UP OFFER - so if kingco offer bad share deal (100 rfc shares for 1 mircromega is very bad) then if kingco underwirte offer and its not taken up then kingco then own more than 75% of rifc and can dowhat they like....rumour has also been that king wants fully controll without paying for shares to do this in full time will tell, bit so far king is going to plan.....