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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Re the Review
I was wondering what effect the review’s revelations today will have on Sevco’s suppliers.
For the people who provide office supplies, electrical repairs, web hosting, grass seed, white line paint, balls, nets, tea bags, plumbing services and yes even payroll services, the report must have been chilling.
Memories of small businesses, newsagents, caterers, etc who were hung out to dry when the previous incarnation folded must have had a few of creditors reaching for their phones to find out why their latest bills remain overdue.
The review will have many suppliers demanding payment on or even before delivery.
The dwindling cash at hand will be under severe pressure, with no banking facilities to fall back on and the fans keeping the money spigot closed.
I can only see this ending in tears, especially for us as the laughing causes our tears to run down our legs.
petec
03:37 on
26 April, 2014
I disagree with your view on the Barca way. I thought it was, when they were at their peak, the most beautiful football from a technical, physical and most of all, teamplay viewpoint.
———————————————————————————————————————–
Barca…chess moves.Admirable,not exciting.
Reckon you didn`t see big Jock`s teams in their prime.
Just want to say a huge thank you to Mr MG who went to the trouble of donating to our wee team Tony’s Huddle that will walk in the Charlotte, North Carolina ALS Walk tomorrow in Symphony Park Charlotte. Thank you from Tony’s Mum, his brother Martin and I.
We know we will not walk alone.
HH
Coneybhoy
03:43 on 26 April, 2014
Petec
To beat the Chelsea Cattenacchio, you just need to beat full back and cut back(as the lions did). Modern wingers is rubbidge
________________________________
I don’t think it is that simple, the counter attack is always worried about now, Barca played the most offensive formation for years and their skilled possession game was taken apart by the Methodical Bayern on the (Ross & Rachel).
I cannae see Bayern getting through after not scoring in the Bernabeu, especially if Real have Bale and Ronaldo fit, they will be lethal on the Break.
Friends.csc
And finally
Does anyone know Victor’s actual place of birth?
Kenya straddles the equator with Nairobi south of the line and much of the country north of it.
Likewise Brazil has a portion of the country north of the equator.
Just casting a wee bit of doubt on tonight’s quiz answers.
If John Oates is looking in he would be proud of me.
A good Wishaw man
macjay1 for Neil Lennon
03:59 on 26 April, 2014
petec
03:37 on
26 April, 2014
I disagree with your view on the Barca way. I thought it was, when they were at their peak, the most beautiful football from a technical, physical and most of all, teamplay viewpoint.
———————————————————————————————————————–
Barca…chess moves.Admirable,not exciting.
Reckon you didn`t see big Jock`s teams in their prime.
+++++++++++++++++++++++++
Unfortunately not, I do know that Barca, when they were at their peak done the same thing as Jock’s teams, went for them from the first minute and scored as many as they could in the first 45, that the other team didn’t want to re-appear.
I think Brendan knows a lot about the Greats. I like the way he has got his team playing and getting them to attack, attack, attack from the first minute.
‘GG
Fore I go to bed, I saw your question.
I am walking for charity in Charlotte, NC, tomorrow. One of my field agents ( ie ass kickers/recruiters is a lady from Kenya). I will ask her.
She told me that Wanyama means meat eater in her native tongue…which seemed entirely appropriate when I watched Victor’s performances last season.
HH & Night Night.
Woke up this morning to the news that Tito Vilanova had lost his battle with cancer at only 45 years of age, really shocked and I hope that his family can cope with the loss of such a person, RIP Tito.
Equally, RIP Sandy Jardine, a fine opponent in a day when the players seemed to be friendly with each other and there was a mutual respect between them for what each had achieved.
RWE, good luck with your walk today, I have seen the disease at close quarters and I wish your son and his family well.
Derbyshirebhoy, I saw your post earlier in the week and I particularly wish you all the best in your fight against this scourge.
Reading back this morning, seems that not too much came out of the radio phone-ins after the review of the review, more deflection and obfuscation perhaps?
Finally, spent a good few minutes in tears after reading the posts to the quiz question on the Hun on the pitch, brilliant stuff Bhoys.
AR
Petec,
I know what you mean, but were you not frustrated when the Huns and Chelsea beat teams on pennos or one goal when the opponent , in their arrogance, tried to walk through the middle. England made a semi in 90 by playing tight.
There is a training school that say , let the cross in. I am in the don’t let it in camp.
The current Celtic team look to block crosses. I noticed that when we let them in against Well, the CHs panicked.
I was always taught, no shot and no cross. A lot of tactics allows crosses as long as you stay in front of the ball.
I think it will be a Real v Chelsea bore
Another glib and shameless liar?
Rangers chief Graham Wallace caught out after claiming season-ticket boycott is to blame for credit card crisis
Apr 26, 2014 03:00 By Gary Ralston
OFFICIAL documents from First Data reveal Rangers were warned by the payment processor that they wanted full security in return for their services as early as January 23 this year.
Danny Lawson/PA WireIbrox CEO Graham Wallace
GRAHAM Wallace is on the ropes after claiming calls for a season-ticket boycott have plunged Rangers into a credit card crisis.
Record Sport has seen documents that show payment processor First Data told the stricken club they wanted full security in return for their services as early as January 23 this year.
That flies in the face of claims from Wallace in the club’s 120-day business review, published yesterday, that threats of a season-ticket snub cost them the key financial service.
Dave King first called on fans to snub season-ticket sales on February 26, more than a month after First Data raised their concerns about the financial position of the club.
They informed Rangers they were uneasy at the state of the club’s accounts and negative publicity at the time around talk of wage cuts for players.
First Data added they were uncomfortable providing the facilities on anything less than a “fully secured” basis and proposed withholding all season ticket sales for 2014-15.
At no point in their correspondence with Ibrox bosses on January 23, circulated between senior staff including Wallace and ex-finance director Brian Stockbridge did they mention fears for a season ticket snub – because those calls had yet to be made.
But Wallace told fans and shareholders in his review: “The board believes one of the major factors influencing the merchant acquirer to change its terms was the extensive negative coverage of calls in some quarters for supporters to refrain or delay purchasing season tickets.”
The revelation is set to strain further the relationship between the board and Rangers fans who will be angry they were being asked to renew season tickets when the club knew the facility to pay by credit card was in serious doubt – and had been since January.
Mac The Knife.
Roll on the Brilliant Celtic Academy. The Fruit will be good with patience.
Tommy Burns, a monumental figure, I’m sure, will have, forgiven Fergus for what he done to him, Fergus hurt Tommy, badly.
Tommy has breathed his spirit of Freedom into Brendan. It is so Obvious.
The antithesis of freedom is a Spirit of Fear.
Celtic PLC ready to join a League where the Club would sanction a £100Million transfer, yet will not give the Workers for the Club a rate they deserve? that would hardly impact at all on the Thin Dime, Bottom Line.
Celtic are very likely to move soon, I’m very likely to stay put. They are cleaning up the support to be a totally marketable support for the Big League coming, if it comes, lol… 70 years, Roman Circus and all that.
Buy/Sell, Here’s Johnny, the Revelator.
It is a shame that every decision to be made now has been Subverted to Black and White, Bottom Line is Easy to me, I believe that Christ Died to take away the Sins of the World.
The Powers that Manipulate this World can easily change EVERYTHING, when they Remove God, they can change EVERYTHING in 1 step then.
God Bless the voices in the Wilderness.
TWIST N TURNS
I see you are menacing the leaders in the race to Champion Predictor.
Good luck,mate.
I’ve had two returns from the fixed odds this season,more than covering my outlay. That’s a success in my eyes.
But I’ve had some monumental disasters too!
One being not wanting to jinx Dundee Utd when they hammered the huns,I was crying with laughter,and with the reality of passing up a glorious opportunity to hammer the enemy.
Heyho…
Coneybhoy
04:40 on 26 April, 2014
Petec,
I know what you mean, but were you not frustrated when the Huns and Chelsea beat teams on pennos or one goal when the opponent , in their arrogance, tried to walk through the middle. England made a semi in 90 by playing tight.
There is a training school that say , let the cross in. I am in the don’t let it in camp.
The current Celtic team look to block crosses. I noticed that when we let them in against Well, the CHs panicked.
I was always taught, no shot and no cross. A lot of tactics allows crosses as long as you stay in front of the ball.
I think it will be a Real v Chelsea bore
__________________________________________
I have a feeling it will be an all Madrid final, given my latest accumulators, you are best betting RM and Chelsea.
This is an excellent piece on the independence debate,from an outside viewpoint.
http://www.dailymail.co.uk/debate/article-2613597/DOMINIC-LAWSON-delivered-home-truths-independence-Glasgow-pub.html
Petec,
I have not bet yet . You could be right.
On the World Cup, I will bet on ingerlund now at 50.
My bet is Argentina ! But too short
Roberto,
My olde Email has been retrieved, anyway, about the Curry House, I’ve never sat in, and had a Curry.
daM CeteP
I’m interested.
I’m sure you will be sinking a pint in Appreciation.
Once I heard that I could not vote in a referendum on a country I paid tax in ,grew up I’m, got pished in, loved in(many lovely girls), left for money, but support at all times……
I thought , f….. You, but then I thought
Can we pair?
I asked Billy05
He said no
I would love to get my ‘no ‘ in as a proxy
Blue Nile
Easter Parade
Coneybhoy
05:35 on 26 April, 2014
Petec,
I have not bet yet . You could be right.
On the World Cup, I will bet on ingerlund now at 50.
My bet is Argentina ! But too short
________________________________
My wee Brother is working over in Switzerland and he would likely disagree with you.
He picks off a profit anytime it arrives, he ignores the amazing booty if the whole bet comes in, all the Time, it is his job.
There is no need for Police at Celtic Park Full Stop.
Scottish Fitba is being strangled by a dark force, Celtic MUST Support it’s Support.
Pedro Goodgame.
Adam??s?Ki
CONEYBHOY
I canny vote either. Canny complain really,I’ve spent most of my adult life down here.
Still be livid if the vote is YES,but I won’t be at all surprised bearing in mind that the NO campaign has been so bloody awful.
I’m not even gonna attempt to influence anyone while I’m home as it ain’t my place to do so.
A year ago,I wouldn’t have thought I would even have needed to!
Moonbeams WD. Rooting for Wee Oscar. Voting ‘YES’ on the 18th of September. Kano’s yer man.
00:04 on 26 April, 2014
I was wondering.
Is it possible to archive all these vote yes pieces that we’re getting, day after day after day, and all saying the same thing?
Just so we can savour them on 19th September?
Leftclicktic
So you made your point by abusing the postman? Aren’t you the smart boy?
ERNIE LYNCH
Dunno if you’ve read this,bud. Quite an article.
It certainly backs up a lot of what I’ve seen in Swindon in the last six years,when unemployment and low pay became prevalent in an area unused to such.
http://www.theguardian.com/books/2014/apr/25/dead-roots-beneath-green-shoots-britains-economic-recovery-austerity-recession
FRITZSONG
I don’t believe LEFTCLICKTIC has it in him to abuse anyone.
Morning folks.
Not been able to read much the last few days but managed to read back to the quiz to see what was goin on.
Bit late and it was probably too obvious but heyho…..
“Some Peepul are on the pitch…..they think its all over……”……..ah well……you know the rest!
Off to work :(
Have a good day and may all yer coupons come up!
Bobby Murdoch’s…
Well, he did say he shouted him back then instructed him to take ‘this s..t’ away. Sounds like abuse to me.
SUCCULENT SPAM on the menu boys! (until further notice)
I know they cant accept credit or debit cards but will wee daft sevco accept Papal?
Well, well, well. Sevco CEO caught telling porkies to the Ibrox ‘faithful’.
Would you credit it?
Good morning friends and welcome to the weekend from a grey and drizzly East Kilbride. To golf or not to golf…
Estadio Nacional –
LOL. Brilliant!
Will they also accept a Provo cheque?
FRITZSONG
I saw that,admittedly.
I’ll order him up twenty lashes.
It would have been fifty if he had been wrong!
Morning all
Song for weefra
http://youtu.be/t3oSyr8mHY4
HH
Ernie Lunch
Fire away.
Your good with C&P.
MWD says AYE
Big Cup Winners
Apologies, fell asleep last night before the quiz results were announced. Many thanks for your efforts and well done Kayal33.
Bobby
Good morning. Sorry, was out running.
Yeah, the predictor has been great fun. Last week. Doc and CRC deserve a lot of credit. Helluva work involved.
Stevenagebhoy has been out in front from almost day one I think, so a very worthy champion if he hangs tough one more week.
I’ve never had such good run on the correct scores on fixed odds. My son and I came up with a system some weeks ago and haven’t looked back since. Not had to make a deposit to PP for a while. Make hay and all of that…….
Still, nothing making me happier at present than the ” club that keeps on giving”.
Hope you and yours are well Bobby.
Gold Coast Tom 07:33
Not sure about those cheques but I hear they are accepting glass cheques ;)
GingerBottlesCSC