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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Over on the Dark Side, they are discussing Nerlinger as a possible new Director of Football. Reckon they should buy a fiddle & sign Nero.
Orc administrations are like buses.
Gravity cannot be denied….
IsaacnewtonCSC
…. Or defied, even.
I think shortbread believing the guff.
IhateshortbreadincludingtheeatingkindCSC
What date is the Greenock shindig again?
This looks CATASTROPHIC ((((((((((((((( :- )))))))))))))) …… note to smsm and pro hun liars everywhere ……… the moment has arrived when you are suddenly all wrong ….. really wrong ….. CATASTROPHIALLY WRONG ……….GIRFUY’S ( copyright TD 67 )
The blog’s Gyles Brandreth has been quiet today….
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeee!
That’s the sound of a Sevco share plumetting to it’s death!
HH
FFin’ austerity measures:
“Are you telling us that Jimmy Bell earns over £2k per week and his son £1k per week.
Are you serious?”
“Totally serious.”
“If we are paying tea-ladies £15k a year and the market price is £12.5k a year then they need to go”
The Green Man @ various posts,
Sadly and reluctantly I think you are right. They ( Whatever they are or will become ) will be like a Phoenix.
I sincerely hope though that we are wrong
HH, always in Celtic.
Ian Durrant’s got a pet rabbit called Starsky.
Terry Butcher’s favourite band is Iron Maiden
Slip inside the eye of your mind
Don’t you know you might find
A better place to play
You said that you’d never been
But all the things that you’ve seen
Will slowly fade away
So we started resolution 12 instead
‘Cos you said the brains I had went to my head.
Step outside, summertime’s in bloom
Stand up beside the fireplace
Take that look from off your face
You ain’t ever gonna burn my heart out
And so Sally can wait, she knows it’s too late as we’re walking on by
Her soul slides away, but don’t look back in anger I heard you say
Take me to the place where you go
Where nobody knows if it’s night or day
But please don’t put your life in the hands
Of a Rock n Roll band
Who’ll throw it all away
So we started resolution 12 instead
‘Cos you said the brains I had went to my head
Step outside ‘cos summertime’s in bloom
Stand up beside the fireplace
Take that look from off your face
‘Cos you ain’t ever gonna burn my heart out
So Sally can wait, she knows it’s too late as she’s walking on by
My soul slides away, but don’t look back in anger I heard you say
So Sally can wait, she knows it’s too late as we’re walking on by
Her soul slides away, but don’t look back in anger I heard you say
So Sally can wait
She knows it’s too late as she’s walking on by
My soul sings with joy
But don’t look back in anger
Don’t look back in anger
I heard you say
At least not today
bournesouprecipe
16:38 on 25 April, 2014
Ian Durrant’s got a pet rabbit called Starsky.
:-)))))
Monaghan1900
Wait till they find out about the tea ladies bonus…
:)
HH
Hope DU got their wedge for the semi final game ….or was the kitty held by the SFA
bournesouprecipe
16:38 on 25 April, 2014
Ian Durrant’s got a pet rabbit called Starsky.
==================
…Who is on a 3k-a-week contract.
The Producers on film 4 +1
Jonny
22p.
Canny even sell at the barras now using the ould ” two for a pound…two furra pound” line.
“Nearly 5 furra pound , nearly 5 furra pound” disnae trip aff the tongue with the same fluency.
The first man to use an ATM in the UK was ole Reg Varney from On The Buses
olivecsc
Good afternoon friends. FACT!
Think I’ll tune in to not so ssb the night.
rubberneckingCSC.
Monaghan1900
16:35 on 25 April, 2014
FFin’ austerity measures:
“Are you telling us that Jimmy Bell earns over £2k per week and his son £1k per week.
Are you serious?”
“Totally serious.”
==============================
That’s like Dr.Frankenstein’s assistant Igor employing young Igor to assist in chopping up corpses.
Greenpinata, yep the orange constituency will never vanish. They will always emerge with something to latch onto but thats Ok. I’d settle for them losing Ibrox and let the present incarnation struggle on for a bit longer.
Jimmy Bell- end on £100k per year ..whit fur ??!
Neganon,
How dare you! Ally is as shocked as the rest of us to learn they are in the brown stuff.;)
Doc….absolute belter v funny.
Durrant having a rabbit is pretty tame.
Derek Parlane used to suck the farts out of dead seagulls in Sauchiehall Street
(according to a wall in the Extension bar toilets at Glasgow University in 1976 so I can’t say if it is totally accurate…may have been Renfield Street)
Called in to the Cooperative bank today, with whom I hold an account or two. I’ve been a big supporter of the Coop for many years. It reflected some of my own ethics and ideas in it’s operations and organisations. But I’m unhappy with what’s happening to them.
So I took the bull by the horns and have told them I am only going to continue to bank with them and use their shops if they give me security on the car park of their supermarket branch on Belfast’s Lisburn Road. And I want a say in the governance of the bank from now on.
They said that would be against all common business practice and probably the law too. But I’m smarter than them and told them that was not the case.
My mate is keeping my deposits for me until they cave in. He is a financial genius and has just got off a fraud charge. I say got off, he cut a deal. He paid everything he owned and pleaded guilty but he got off, really. Anyway, he is looking after my savings for me and will hand them over to the Co-Op when they play ball on that car park deal and when he gets back from his trip to South America for the World Cup.
I’ll let you know how it goes.
In the meantime I’m about to email a guy in Nigeria with my bank details so he can pay in my lottery winnings. £200K coming my way less a small commission for him (what a rip off, but hey, it’s still £195K I wasn’t expecting and I’d be really suspicious if the guy didn’t want an admin fee, so you know he’s genuine)
What a day. Could it get any better for me.? Hold on, I think it could……
Actually just noticed the wife packing a bag – must be taking me on a surprise trip away…… cool. She’s putting the kids in the car and they are crying – must be taking them to the baby sitters – they hate that!
My life is awesome. I am the People.
kitalba , leftclicktic
think you both have my email address . sannabhoy@thekanofoundation.com
!!Bada Bing!!
16:41 on
25 April, 2014
The Producers on film 4 +1
______________________________
Springtime for Sevco!!!!!
Cadizzy
I’ve had a chest infection for 10 days
You nearly killed with that one … Still coughing !!!!
They have given “bear” and ” bull”, a whole new meaning in stock market lingo.
Bear……now means …..what your wallet will be when you buy shares in Ra Rangers.
As for “bull” ….well…….read Mr Wallace’s report today.
Killed me…even
Cannae multi task ….typing and coughing
Still going strong and credit worthy
bournesouprecipe
16:38 on
25 April, 2014
Ian Durrant’s got a pet rabbit called Starsky.
like the tv programme – Starsky and……………….Warren.
When you’re down and troubled
or need a helping hand.
Try giving James Taylor a bell
He’ll come running
The ole rabbit hutch builders they’ll fair give you a run for your bunny.