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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TOOTINGTIM
I did,mate.
What he said then echoed the thoughts if Thatcher in her memoirs.
IIRC,she said that her failure in widening workforce mobility was her greatest regret.
In other words,her greatest regret was in not breaking up enough families due to the man having to work away from home.
How little has changed in the ethos of that party.
TALLYBHOY
M4,approaching London.
ETA 1015
First pint 1016
blantyretim is praying for the knox family
09:21 on 26 April, 2014
Today is also the anniversary of 1969 cup final when we destroyed the now no longer team from Govan..
………,,,,………………………………….
Aye, happy days, went to the game with the biggest hangover ever, head clear by half time. Lol
YNWA
BT,
Thanks for mentioning the 69 Final. To me, it conjures up memories of George Connolly at his majestic best. What a player, what a player……
Marrakesh Express
I was chatting to a similar type Sevco supporter thro the week …four of them never miss a game , shareholders, occasionally take hospitality ……a real CEO’s dream fan
He is refusing to renew his ticket as are his travelling companions
If guys like him haven’t renewed they will be in real bother …….
Questions are all there, not sure about the answers,.
http://www.companieshouse.gov.uk/infoAndGuide/faq/liquidationInsolve.shtml
BMCUWP
Cracking piece from Daily Mail.
Saw all NO voters are just lovies and YES voters are schemies.
Brilliant!
Easterhouse. A SNP bed of nationalist.
MWD hee hee
Frank Ryan
I read the book ….saw thro the chancer fairly quickly
Damp squib the whole Hun strategy report.
It was a buy time ploy and clearly not much has happened in the 120 days.
It was a pitiful summary that anybody could have written in 120 mins.
It was great to see the original RFC driven in to liquidation. I’m less bothered about RIFC . I’d feel
like I was kicking a man when he was down if I gloated too much again .
It’s now all a bit awkward…
MWD
I’m a schemie but certainly not a Yes man ..
our WEE HERO!
09:32 on 26 April, 2014
GERRYBHOY
Fair enough,mate.
I thought it was an interesting article. Certainly no fan of his old man though. Nor of his own politics.
Am probably more a fan of his sister, truth be told ;))
MWD says Yes
The 1969 Cup Final is one of my best Celtic memories.
Especially a 20 year old George Connelly dispossesing ‘the greatest ever Ranger(sic)’, rounding the goalie and sticking the ball in the net.
Smashin’!
HH!!
PFayr
Not according to that baw heid that wrote that article in Daily Mail.
You can escape the scheme but you can’t escape being a nationalist SNP English hater.
Laughable right wing fascist opinion nonsense piece. Easterhouse – a hot bed of nationalism I tell yees. :)
MWD say Aye
Twisty
The problem is who owns the heritage
If there is dubiety over ownership ….big problems
Otherwise the sale and leaseback is a no brainer
As long as they limp along until the end of next week ….then any insolvency event causes a points deduction next season
Tallybhoy
Enjoy!
http://m.youtube.com/watch?v=A4ai7kp_8cg
MWD
One of the YES voters was brought up in Easterhouse and is a teacher there.
Here he describes another
Actually, I could imagine the speaker relishing such a fight. He has the build of a rugby prop forward and a generally intimidating presence. But this is no hooligan.
After a drink together, I discover he had been a civil servant in the Scottish Office before taking a job in financial services.
On learning he is in the world of business, I ask my pugnacious drinking companion how he feels about the warnings from the Westminster political parties — not to mention leading banks and insurance companies — of the damage that independence might do to Scotland’s prosperity.
‘I am for independence, whatever the price. Whatever the cost.’
Hardly schemies,as you put it.
In fact,I reckon he would be erm most uncomfortable holding a conversation with a schemie in the first place!
I hope the HMRC are keeping a close eye on all these 1000s of cash transactions by the loyal blues. I mean, you wouldn’t want to be caught not paying your due tax, would you?
https://pbs.twimg.com/media/BmImMTiCEAANEX3.jpg:large
bt
he’s looking good in this pic…wish him all the best today bhud HH
Not ever wishing to be seen to agree with anything published in the bastion of British imperialism that is the Daily Mail in this instance while not agreeing with the Tory boy I do think he raised a few interesting issues regarding the divorce debate.
GERRYBHOY
If you can get her a USA visa,I reckon she might show her appreciation….
T’n’T
the story of Wallace knowing about they credit cards being refused for season tickets broke here
https://twitter.com/apocryphal5
He came up with their new PR man Tyrells name the day before anybody so I keep a wee eye on him.
Have a great day sir and stay close
” was out running” made me smile with satisfaction my friend.
Till later all away to pick up the auld man across the Rd fae me a paper and try and pick a winner for the CQN tipster thing on the 2min walk home,thats what ye call a system:)))
He still tells me celtic got a corner againt Albion Rovers when it should have been a goal kick in the late 1950s and equalised, these sevconions have fantastic memories for things like that even at 91 :)))
leftclicktic We are all Neil Lennon
09:22 on 26 April, 2014
leftclicktic, that was a most gracious reply. For my part, I’ve returned that high horse of mine to its stable – for the time being anyway.
clunks
08:57 on 26 April, 2014
I thought that when i read that the huns were blamimg there payment processor for not being able to take debit and credit cards was a wee bit off. It didnt smell right.
I also thought that wouldnt you be pissed off if you were that merchant processor?
Looks to me like the business relationship is no more and maybe hasnt been for a wee bit of time.
Did the hun MD try to stitch up the payment processor knowing full well that he was talking bollox?
Could this be one of the Contracts that was entered into without legal representation?
Could this be GW’s way to try and break the contract through a breach….30,000+ season tickets must be a tidy wee handling charge
Frank Ryan’s Whiskey ” Independance for Shetland Now” :
McGartland comes across as a bit of a pathetic plonker if you read his book. And if anybody believes the hype the British press gave his book then more fool them. They got played just as much as McGartland did. He got hooked and landed by a very experienced and Machiavellian monster and like a lot of fools he believed both them and his own written press. ‘Stakeknife’ was a good try by the very same monster but ‘Who Killed Rosemary Nelson’ by Neil Root and Ian Hitchings shines an unwelcome spotlight on the state paid men who operated above the law of the land. The best read of them all on the subject, which I’ve read, is Paul McMahons British Spies and Irish Rebels sort of lays bare the unlevelled playing field.
The downfall of RFC.
roy croppie
09:53 on 26 April, 2014
https://pbs.twimg.com/media/BmImMTiCEAANEX3.jpg:large
Gherrybhoy that was an excellent article in the independence and didn’t a lot of it ring true.
Threats and intimidation are commonplace from the pro Nats. In fact it’s completely reminiscent of another group who use threats and intimidation to get their own way isn’t it? The country which brought us the OB act now bullying its population to vote for independence.
The story of the BBC executive was also enlightening. Coordinated efforts by cyber Nats to destroy any reasoned debate and ensure the pro Nats voice gets heard. They want to control the media. This is those who would govern an independent Scotland. Don’t we see the same tactic hon this site. Billy bhoy on his campaign to distort polls and tell half truths. Isn’t it reminiscent of the FACTS peddled by others?
This is desperation by the nationalists. They have been unable to move the polls in any significant way. So they revert to type. Tell lies, half truths and intimidate others.
That they would end up with a riven country if they ever got their way is of no consequence to them. They want the power for its own sake. Power to subjugate its minority.
The Nats have told us the yes campaign is entirely negative. That of course isn’t rue. But the Nats campaign is full of un costed empty promises. And when that doesn’t work it’s time to shout and threaten those who disagree.
How inspiring.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS ………Praying for our WEE HERO!
09:54 on 26 April, 2014
GERRYBHOY
If you can get her a USA visa,I reckon she might show her appreciation….
Ha ha………
BMCUWP, since I live in Germany, that might be quite difficult! Would nevertheless appreciate the appreciation tho’!
At the risk of further extending the independence debate on CQN, it is worth noting that a YES vote would be for an independent Scotland and not a vote for the SNP. The cyclical political election process subsequent to the creation of an independent Scotland would determine the shape and policy of future Scottish administrations. That having been said, I would only compare and contrast the actions of the Westminster and the Norwegian governments as to how they used or abused the proceeds of North Sea bounty. Noway created a substantial future fund. Remind me of what successive Westminster governments of both political hues did for Scotland with North sea revenues.
Mycaserestsm’ludCSC
twists n turns
What a team, what a performance.
Happy days!
HH!!
Good morning CQN, so, will thems be forever known as the Hail Mary Club?
Billy bhoy I find it amusing that you won’t read articles that don’t hold with your world bpview. Narrow mind endless is a prerequisite to most nationalists right enough.
As an accountant of course the cost of buying assets will appear in an income and expenditure account. The assets themselves then appear on the balance sheet. The balance sheet wasn’t in the Hun statement. Try and talk about facts not FACTs.
NegAnon2
10:07 on 26 April, 2014
Don’t dispute any of that mate. However, local democracy would dicate outcomes.
By the people (not peepil hopefully), for the people.
The 4-0 final in 1969 – Johnstone and Hughes were both out injured. The press was tipping the future dead thing to win. I travelled from the Central to Mount Florida with one or two mates and a train-load of huns. Pre-match, they were jubilant. Triumphalist before the event. But two minutes into the event big Billy put their gas in a peep and that’s the way it stayed.
BTW, SAF – unprovoked – butted Bobby M. (‘Gesture with his head.’ – STV’s A Cameron). After goal 4 the huns invaded the the pitch and tried to tear the Rangers’ net down.(‘Rangers supporters entangled in the netting.’ – A. Cameron).
There should be more awareness about the properties of “medicinal mushrooms” .
Certain mushrooms can be benifical in the fight against certain cancers.
They can kill cancer cells in some cases.
Other mushrooms can boost the immune system.
They do not interfere with chemo and traditional cancer treatments.
There are companies that supply them in capsule form.
There are clinical trials taking place in UK and elsewhere. Strathclyde Uni.
Information can be found on line.
Doctors here can be very conservative and most will probably be sceptical but it does no harm to try them . They are widely used in the far east and being used more and more throughout the world.
I was out all day yesterday so just catching up on the totally unsurprising conclusions of the 120 day review. Who would have guessed that The Rangers are going through money at a vast rate? Who could have told them that spending is unsustainable? Who could have foretold that they are in real financial trouble?
Well, everyone really. Which raises serious questions about those whose job it is to ensure that their new club is run properly. And why no lessons were learned from teh death of the old club.
The press, of course, will ignore the footballing issue and see this as some sort of backroom story. They just can’t seem to see the contradiction between “The Rangers Are Skint” and “Increased Transfer Budget For Next Season”.
With £70M already poured down the drain and another £20M+ identified as required, are they really saying that it takes close to £100M to win Scotland’s three lower leagues? Or is that only the case when you have a useless manager??
http://t.co/LgYcXEVlxD
This is funny!!
Awrite Dragon troops.
Eh, ma name’s Sandy and this is ma brer, jimmy: The gither we are known as (in unison) Da Easedale Bruvvas.
Noo, listen, the day we’re here to offer yous lot 5% of oor business (in unison) Da Rangers International Fitba Club for £30 mullyin.
Eh, an’ that’s it, any questions Dargons?
[Peter] How do you get to valuing your business at this ridiculous amount?
[DEBs] Coz we’ve got pure mullyins of fans across the world
[Deborah] So talk me through your figures for your last three years.
[DEBs] Well, we’ve been going fur like 140 years bit like we’ve only really goat a couple of years figures.
[Deborah] Ok, so what was your profits for these two years?
[DEBs] Pfff, profit? Ha ha, stoater hen
[Kelly] When, as an investor would I expect to see a return?
[DEBs] (in unison and looking at each other) ha ha ha
[Duncan] I just think it’s ridiculous,
I’m out
[DEBs] You’re moater’s getting torched well ya f*d
When the independent posts get more that the Celtic ones in here I move out for a wee break, fckn worse than Jehovah witness mob chappin yer door when the fitbaws on the telly, diz ma heed in, later, HH.