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:
1,415 Comments- Pages:
- «
- 1
- ...
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- »
steinreignedsupreme
12:24 on 26 April, 2014
——————————–
Snap, we’re obviously on the same wavelength I’m just a bit slower!
Apologies to all but this single post has me champing at the bit to ramp up Indy debate
tonydonnelly67
10:19 on 26 April, 2014
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.
Might even keep it going until I die.
MWD says YES
Ernie 12:13
Cheers for reply
On phone meantime, will watch links later.
Pogmathonyahun aka Laird of the Smiles 12:29 on 26 April, 2014
“Excellent album, I love listening to it in the car.
“Have any of the Tim artistic wags managed to do one of those ‘Priceless’ pictorial gags yet regarding the credit card scenario at the Mega Casino?”
Aye. It is a terrific album. I’ve been listening to a lot of live stuff recently. This Lizzy – Live And Dangerous is next up.
I’m unable to do the ole photoshop stuff. But I’m sure someone will come up with something on the credit card stuff…
Almost tempted to watch Sky Sports 2 at 12:45 for the craic :-)))
Taurangabhoy
12:20 on
26 April, 2014
I haven’t read the full shistertament of the 120 second review but I gather that a figure of 3.5 million cash is mentioned. Is this from December 2013 or March 2014? If 30,000 deluded and sad zombies sign up that would bring in around what 7 million. Hardly enough to pay the Board and SuperSalary. Goneburgers.
———————————–
Graham Wallace stated that there was £3.5m as at end-December 2013. When asked how much was in the bank now, he stated less than £3.5m. Like everything else in relation to this “review” it’s all bull.
Skint then, skint now, skint forever…
no credit/debit card payments…….The cry is
“we are the paypal”
Braveheart was on More4 last night.
Independence debate rages on CQN this morning.
I’d trust Longshanks more than Alex ‘I’ll scrap council tax’ Salmond.
Liar, liar.
It beggars belief, it really does.
Robcfc11
11:31 on
26 April, 2014
West Sydney wanderers into the ausssie grand final
Come on the sydney hoops :)
——————————————————————————————————————–
Accurate description.
Their supporters seem to have nicked the complete G.B.songbook.
COYBIG et al.
Sevco players in the tunnel with a bunch of kids – without wishing to be unkind, it looks like some science experiment has gone wrong.
Boruc and Wanyama will start for Southampton with Hooiveld on the bench. McGeady a sub again for Everton.
Squire Danaher
Even your average Zombie’s memory won’t be overtaxed(!) remembering decisions that went in our favour, there being so few of them!
Greenpinata
12:25 on
26 April, 2014
My friends in Celtic,
Hypothetical questions :
In this modern era, how would you sign a player without banking or credit facilities.?
How do the “players” get paid ?
HH.
———————————————-
Hypothetical answers :
Bank transfer I’d imagine. However, you have a point – they’d need to wait until they had enough money in the appropriate business current account before they could buy another. So – player out, cash received, cash out, player in. This would rely on all the cash for the player out being paid upfront by the purchaser as far as I can see – unless there are some stupid clubs out there who are willing to effectively give them “credit”. But look what happened to Hearts with Wallace – they never got all of the money owed. And of course, it relies on monies received is not being used to pay back other stuff. Like short-term high-interest emergency loans.
Player wages would normally be paid by BACS transfer.
Apologies if I’m reading the questions incorrectly, GP but are you relating this to their inability to take card payments anymore?
Only huns and horses
Sevco fans donating toilet roll to the club in these thrifty times.
And lots of spaces at Ibrox. I was led to believe they sold out all their matches.
Welfare mothers make the better lovers
HH
“.Man U need resurgery…”
Charlie Nicholas
DL on SSB last night: there wont be a empty seat at ipox tomorrow
Deluded DL
Jungle Jim
11:50 on
No, No, Yes, Yes, No.
In my humble opinion
!!bada bing!!
12:55 on 26 April, 2014
————————————-
Is that from the Charlie Nictionary? :-)
Was sitting at the bar in my local here in Cologne just now and the local German died club supporter comes in, dressed in full attire, asking to see the “champions” last home game of the season.
Lower Division winners last home game ever me thinks, brain dead muppet.
Now relocated to the Corkonian terrace round the corner.
A round of applause in the second minute from the Zombies to honour the number of clubs they have follow followed in the last two years.
Jimmy Bell has his arms folded.
Got 5-1 on a draw at Ibroke today was tempted to go in for an away win as I feel the sevco players minds might not be on the game today.
Anyway off to the swimming in Dumbarton with the G kids
Jungle Jim
Hope so
Hope so
Yes
Yes
Doubt it but I truly hope so
Those contrary sevconians – always got to be the opposite to us.
For instance, we are the ‘Tic – so they naturally become the No Tick…
pogmathonyahun- you can see that Charlie and Jim Duffy were in the same class at school.
Shameless Shortbread have now buried the hatchet with their favourite team,live commentary from a 3rd Division game…
Saints and Toffees serving up a feast and naisy wriggling aroond in agony. What more could you want ?
HH
Aircrafts getting diverted on approach to Glasgow Airport due to a constant steam of aerial balls in the vicinity of Govan.
MWD @ 12:35 – “Apologies to all but this single post has me champing at the bit to ramp up Indy debate”
Would we know the difference?!
T4
New article up Bhoys
With 20 minutes played at Ibrox, Sevco are leading 1-0 thanks to a Lee McCulloch penalty two minutes before half time.
I suppose this is what happens when there’s nothing to play for!
Good on them though!
@FBAwayDays: Hartlepool fans have dressed up as ‘Thunderbirds’ for their last away game of the season at Plymouth today. #hufc http://t.co/VFs3yBCye8
HH
bournesouprecipe @ 11:12
The ole Charcoals is very good but beware it’s alleged Indian Mafia links and if CQN’rs don’t tip well they could end up with a horses head on their pilau.
I bow to the master of paronomasia – as an sometime exponent I applaud you work.
Off out to get a safe pet for my granddaughter. Been recommended an African Antbear, as we all know that aardvark never killed anyone …
Can anyone tell me what odds the bookies are offering on Sunderland staying up?
A question to any lurking current buns or maybe you guys can asks your ‘special pal’…
Would you support your team if it started afresh on an economy budget and lingered in the lower leagues?
Thunder road
http://www.oddschecker.com says best price Sunderland to stay up
9/10 Ladbrokes