A statement to the stock market by Rangers International today confirmed that they are not a sustainable business, have no bank credit facilities and are unable to accept debit or credit cards for season ticket purchases.
These revelations contravene SFA licence requirements, which would need to be met if the club wanted to participate in Scottish football in season 2014-15. Before attaining a licence for the forthcoming season a club must demonstrate that is has the finance available to complete its commitments. Newco Rangers have confirmed they are currently unable to meet this requirement.
Perhaps anticipating their next move, the statement added, “Should the Club suffer a substantial decrease in season ticket income in the next two months, then it would be unable to trade in the short term without seeking additional external funding”. You suspect this two month timeframe will prove to be significant.
That supporters who chose to automatically renew their season tickets cannot do so is demeaning. The financial uncertainty behind a season ticket purchase is such that people have been asked to pay by cash, cheque or direct bank transfer. Utterly, utterly, demeaning.
I sincerely hope whoever is in charge of taking money from fans is in a position to pay them back in the event the club fails. With this weight of evidence, to bank and spend the money regardless would be despicable.
A few points to bear in mind:
No one is in control of this situation, it was not planned for and there is not a silver bullet to resolve things.
The shareholders and are not a homogenous unit, they have different priorities, aspirations and stress points.
These two things being the case, any amount of carnage can take place once the inevitable crash occurs.
The only plan I can think of goes along the lines of, “Hail Mary, full of grace……..”
Sandy Jardine
I know several CQN’ers were good friends with Sandy Jardine, each of whom assured me of the man’s good character. Sincere condolences extended to all his family and friends.
Signed copies of Yogi Bare – John Hughes autobiography, are available now:
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Sad news about the death of Tito Vilanovo – R.I.P.
Android Ed Milibland:
So dull that even his life size StarTrek costume walked out on him.
googybhoy ♥ we are all Neil Lennon
17:52 on 25 April, 2014
‘Cash at the turnstile.’
####
Mmm.
Ernie
You’re probably right
And ….give his son £50k pa
He must have been very helpful
rip tito vilanova
poor man
cancer is the scourge of the 21st century
TLWIO
His son get £50k pa as his assistant …
Bonkers
Evening all.
Not interested in Rangers but at least the Celtic bashers are otherwise occupied.
only 45
titos life was cut far too early
R.i.P. Tito Vilanovo you will be missed. H.H.
Sky news report, posted earlier.
“On a brighter note for Rangers fans, the club insist their target is to become champions of Scotland for the first time by 2017.”
Now that’s progress, as far as telling the truth is concerned. Once they insert “The” in front of “Rangers”, job done!
Googybhoy
…and who in their right mind will buy a season book for ” cash only”?.
Took this from their website.
” as stated in todays press release we will accept cash only in respect of renewals for 2014/2015 season books. Purchases can be made on the 2nd May between 10 pm and midnight, at the disused car park behind the old railway line, near the waste ground across from “big Billy’s” garage. Look for the Mercedes with the reg “spivs 1690” and wait for the flash of the headlights before approaching. Cash should be in the form of used notes only, in denominations of £50 or greater. This makes it easier to divvy ….err….count…for banking purposes.
( well, maybe I didn’t really read it on their website, but I could have)
Stolen from TheHumanTorpedo on Kerrydale Street
Rangers disciplinary record at end of season 2013/14:
Red Cards: 2
Yellow Cards: 41
Credit & Debit Cards: 0
Freude even
John O’Neil – 17:55
“Android Ed Milibland:
So dull that even his life size StarTrek costume walked out on him.”
Give the guy a break, how could he possibly complete with the all singin ‘n dancing Fred Salmond and Ginger Sturgeon?
Bada Bing.
I’ve just read back, and, like big TM, I’ll just have to take that one on the chinn!
Only countdown I’m interested in is the ongoing one at Mordor!
….PFayr supports WeeOscar 17:49 on 25 April, 2014
“Keep wondering if any of their number actually believe that they will be challenging fur the league in two season …surely not”
They must do.
We have enough people on here who believe it’s going to happen.
#Youdon’thavetobemadtopostonherebutithelps
SSB’s going to be all about Sandy Jardine.
Sir Paul
Nice.
Ah hiv a Question..
“Whit Wull/Is? the S.F.A. Dae/ Gonna Dae? ..Noo”( That’s Two Questions…ed)
Is it?
Kojo
Still Laughin’
Phil MacGiollaBhain@Pmacgiollabhain · 41s
http://www.investegate.co.uk/rangers-int-f-c–plc–rfc-/rns/business-review-and-strategic-plan-update/201404251100045425F/ …
This is just a summary of the full report that was presented to the shareholders.
The full thing is toxic…
————
Phil MacGiollaBhain@Pmacgiollabhain · now
Hearing that,on receiving the fulll version of the Wallace report from the NOMAD, the AIM chaps “stunned” that Admin not being considered…
Serious question (despite smiling ear to ear) – is it only season tickets that they cannot use their credit/debit cards for? Can cards be used for example for their online superstore, etc?
Awe_naw
Your original post at 17.55 might be apt though, as they might have no choice but to hurt their friends tonight!
Having had time to digest today.
Kings plan is working perfectly.
He is driving their share price to bargain level.
He will swoop soon and buy control at a knock down price.
An aggressive unwanted ( by the existing investors)take over is a possibility.
TT
Jobo Baldie 18:15 on 25 April, 2014
“Serious question (despite smiling ear to ear) – is it only season tickets that they cannot use their credit/debit cards for? Can cards be used for example for their online superstore, etc?”
It only applies to season tickets.
Jobo
I assume yes, because they’ll be getting the goods at the time of purchase.
Jobo Baldie
18:15 on 25 April, 2014
I’d assume it’s only season tickets that are the issue.
The problem seems to be the credit card company having to refund the price of the season book if thems go bust before the games are played.
TinyTim 18:17 on 25 April, 2014
King is not controlling anything.
The people running Sevco hold all the aces.
Blooter, evening,
He is a mixture of dalek swot and that terminally dull priest from Father Ted. What a shambles.
Jobo
You can’t even get the Celtic Duck.
TinyTim…….have to disagree pal,.DK is helpless as
are the rest of the hun,the spivs hold all aces.
who would do business with them ? Most football club business must with an sme, sorry , who will do business with them when they mutate again. This time, it just feels grubby.
SRS 18.20
I hope that is the case.
King calling the shots would be bad for us in sporting context.
He will fund a team that they can’t afford and increase their chances of beating us to trophies and Euro income.
IF WE HAD A STRONG SPFL/SFA , they would ensure true financial fair play was constituted with immediate effect within Scottish football.
TT
John O’Neil
17:44 on
25 April, 2014
Android Ed sent up north by Eyebrows.’ No’ voters squirm. Other voters yawn.
===
I know its enough to make you take up building Airfix kits. Not sure who is the more tiresome the No campaign with characterless Ed M or the yes campaign with fantasy world Alex S.
Valentinesday
I hope you’re correct.
TT
The pure double of Richard Snowdon got off the train at dunblane.
Best not tell the CIA (hush Kojo!), FOCUS or CQNers who disapprove of university rectorial elections!
Aff oot. 5s.
I need 2 new knees. Anyone got some in their garage or something? Will collect.
HH jamesgang
Beautiful day outside to begin the weekend
The huns are a shambles and i cant stop laughin
Oh and got offered a new job today
Times are good in my life at the minute…
B-)
Sad news about villanova tho
RIP Tito
Dan supporting wee Oscar
Glad you are enjoying the Seville book. Wait until you get to the story about our swimming champion – the funniest thing you’ll read all year!
Anyone looking for a copy of Seville please email david@cqnmagazine.com
Tito was someone to look up to in a game filled with money grabbing shysters.
RIP Tito Vilanova
Sound financial advice from Gordon Deeeeeeee-elll
“You’ve got to put your money in and take your chances”!