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Not looking too hopeful for one of these sellouts cambridge and stuzetroll were promising. Cambridge will have to redo his pie & bovril bonanza sales calculations: http://www.rangers.talent-sport.co.uk/PagesPublic/ProductBrowse/standAndAreaSelection.aspx?stadium=IB&product=T15A17&campaign=&type=H&productsubtype=
Official Attendance counting all ST holders as present: 31,427 What happened to all these full houses that cambridge and stuzeetroll promised?
that means around 7K walkup fans, that's not going to pay the wages this month
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.
No it won't, the bulk of that is made up of season tickets and they've already spent all that cash.
Rumour earlier in the year was it would only be released quarterly....
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...." 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.
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......
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.
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.
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.
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.
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/
Aqua - you should try reading the official site occasionally.
http://www.rangers.co.uk/news/headlines/item/8912-football-number-one-investment "“To respect the processes of the SFA Dave will not be investing until we have him cleared by the SFA. "
Do you actually believe that, Cambridgeblue? To me, that statement looks risible and is a good reason why the official site is the last place I would look for enlightenment.
Whether I agree with that or not it's clear there won't be an announcement until DD tells PL to clear DK. As the transfer window isn't open yet I see no need to panic for a few more weeks.
have to agree with cambirdgeblue (shock horror) dave cant just invest a loan - as the SFA may apply a fine like with Ashley... of circa £7500 ... and sounds like king does not have that either.... lol - so we may go into admin cos SFA don't allow king to invest... this is a joke @cb !!! you believing spin too much... King said he had £30m of kids inheritance.... spend it now.... ???
The SFA won't prevent King - it's a lot chaff being sent up to make it look like they are actually checking stuff for once.
Regardless of the SFA's role, King can invest can't he? Just not as a director. And even then, he'd de a director of “the holding company for the Scottish football club 'Rangers'" so not entirely sure how that plays out. Either way, he could easily "invest" by substituting his own loan for Ashley's one. If he wanted to... (the cruel might insert a lame gag relating to him "selling out", but I'll resist...)
I personally think Admin would be the best thing for the stock. Sell more stock to existing shareholders, pay off Ashley, then go into admin to eliminate the onerous contracts, terminate the partnership with SD and trade your way out. I am sure it would be more complicated than, but in broad terms its seems like the best way out. Would probably need to happen at the end of next season.
Stu - by 'complicated' do you mean as in a 25 point penalty being applied for a second insolvency event within five years, thus making euro glory and the associated cash a distant dream?
No not at all, that bit appears straight forward, however, I admire your ambition Wottpi, the club, the company owns play in the championship, not the premiership. I think it will be more than 12 months before they make it to the premiership, and much longer before any meaningful European match. If these players want to play in Europe they will need to go on holiday. I was referring to the legal intricacies of extricating themselves from a web of onerous contracts.
There is no legal reason why DK can't invest now even if the SFA/SPFL deem him not to be fit and proper - that only stops him from being a director. The fact that he hasn't/won't, implies that he doesn't actually have the money available that the claimed to have and he is totally reliant on OPM.