While I was busy telling one of my first bosses how much money we were going to make in a year or two, he made a comment which has remained with me since, “If you don’t make some sales next month, we’ll not be around to find out if you’re right.”
Plans for 2022 don’t mean a fart to a company which is haemorrhaging cash, billionaire funders, nomads and auditors, all the consequence of a two year war of attrition as newco Rangers tried to fight off an insurrection.
There are literally thousands of metrics you can use to compare the prospects of football clubs but let me draw your eye to a couple, which will give you real insight into the future.
Last season Celtic had 475 “full time equivalents” in employment, 318 people in non-football roles and a further 157 in football operations (players, coaches etc.). If the average pay of those 318 non-football full-time staff was £25k (I doubt it’s this low), their combined wage bill would be just below £8m. Celtic’s total annual wage bill was £37.766m, total operating expenses were £59.885m.
If you want to win the Scottish Premiership, this is what you’re competing against.
Newco Rangers announced operating expenses (before amortisation) of £15.684m for the six months to 31 December, which included £6.7m wages, covering both football and non-football staff. If the figures for the second half of the year are consistent with the first that would give them around £31m income and a £13.4m spend wages. Income is around half Celtic’s expenses and wages a fraction of Celtic’s
What newco need is tens of millions of pounds of investor cash, the £50m Dave King spoke about ‘when in opposition’ is not an overestimate.
Anything they say before “Here is the £50m investment we need” is there to take attention away from the fact that they haven’t said “Here is the £50m investment we need”. When they say that, they’re in the game, until then, they’re cannon fodder. When they stop talking about the £50m needed, they know it’s not coming.
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So the huns need an investment in the order of £50m just to catch up with us. As Phil has consistently reminded us, they are a loss making business with no banking facilities. No self respecting investor will touch them with a bargepole.
Any future investment must come from private sources. Who is going to dig into their piggy bank to the tune of £50m. Look at how Mike Ashley was treated. King doesn’t have that kind of cash to burn. Will there be demands for cash from the brotherhood? Blanket collections at Ibrox?
The whole thing is a farce and our SMSM whips up a frenzy of empty promises and moonbeams to keep the berrz onside.
Once the berrz fully take in that their “saviours” have taken them for such mugs, and that the “rangurs haters” are not to blame, I see many of them walking away. Some will take up golf and bowls; others may revert to their wee teams like Motherwell and Kilmarnock.
They are fecked.
HH
No nomad is like a new signing……
Connaire
11:45
Sheraton Hotel has a NASA type dish.Watched a Celtic game in there a few years ago .Plenty of screens,showing different matches.Buy a couple of rounds,tipping the bar person each time,ten minutes before KO,any chance of ……….you know the drill.Worked for me
HH
Beatbhoy
I’m Timmy no Well.
You can be the fishal CQN lyricist.
When, exactly, did Deloitte walk away?
We’re told today that it was after they had signed off the June 2014 accounts, but at the AGM in December 2014 one of the motions was for them to be re-appointed as auditors.
Proudbhoy
nohunshere@hotmail.com
TET email
BMCUW
They don’t want yer mate’s type down Mordor way!
Not now, at least.
Too late, hopefully.
Earlier, BRTH had wondered about the advisability of Murray making an unnecessary statement in the report to the Stock Exchange regarding ‘historical’ information about the Club’s status.
Maybe he should have consulted this guy.
http://www.youtube.com/watch?v=jpcEietIoxk
If TRFC survives, unaccountable money will arrive from many quarters.
It will come in a bit soiled and needing a bit of freshing up, but, no problem.
Super duper machines for reinvigorating used bank notes will be installed and, hey preto, new money for old.
All this will be allowed to flourish because ,to date, all regulatory authorities in Scotland have facilitated their path so far….and that will continue.
The Ulster Bank notes will be the easiest to deliver, via Stena Line.
I remember when Walter White bought that car wash business for a specific purpose. Hmm.
Does Super Sallary get a gardening bonus if they slink in through the play offs?
It’s bound to be in his onerous contract.
Today’s article really is a hits-the-nail-on-the-head piece. 2022 is years away in terms of time, light years in terms of money. They need £50m to catch ip even if we stand still. Think what you will of Lawwell and The Bored, but dare I say it, they don’t do standing still.
f.a.b. virgil (watrc)
11:29 on 31 March, 2015.
At last a guy who spells it out . That mob cannot do anything straight . Cheated for years to get into the position they are in , and will cheat until they are out of that position . What a scummy outfit . Pity res 12 hasn’t got a qc to take the truth farther and get rid of the people who have kept this sideshow alive .
Connaire / BT
I think another pub is Pod Papugami. Make a reminder just before your trip and I will phone these pubs to get information about the game (s). If you have more time and this is not your first visit to Kraków, consider one day in Zakopane. It’s 100 km south, in mountains but completely different world and you will love it.
Paul 67
Love your analysis .
Could it be shortened to let’s say a couple of words though?
They’re gubbed?
Does that summarise things?
Paul Murray has signed an (interim) Chairman’s Report to an official Stock Exchange that :
Rangers Football Club, formed in Scotland in 1872, is one of the world’s most successful clubs, having won 54 League titles, 33 Scottish Cups, 27 League Cups and the European Cup Winners’ Cup in 1972.
What more does HMRC need to pursue recovery of tax debt due by the old club from the current club and its directors by making this continuation link with the old club?
Paul Murray is not just digging a hole…he is into deep water drilling now.
Thomthetim 12.53
I was thinking exactly the same thing.
TT
burghbhoy
Think this might summarise things :-)
http://m.youtube.com/watch?v=FZ0cEc7Su9Q
Hrvatski Jim
13:13 on
31 March, 2015
Agree,however in the same report under General Information he also has a piece about Liquidation and Incorporation,so at the start its the same club, and at the end it could be a new Club,bit of a catch all,or mess if you prefer.
Paul67,
It would be good also to have some perspective on what Celtic can do to grow the gap. Michael Grant in Mondays London Times highlighted the gap can grow as Celtic have circa £30-40M/ season prize for CL qualification ( over £100M for next 3 years with new BT deal, wins at £1M , match day income etc). Also success in this years CL qualifiers has a positive roll on effect to following years.
This season we “expect” the treble. With this additional income we would be even money for the treble every season. We can be the CL whale in the domestic pond—it may even result in Celtic being pushed out due to total dominance.
So as it is good to understand the current size of the gap with the Ibrox club. As a Celtic fan typing this note from downtown Berlin, I am interested how we make the gap mount everest to all domestic contenders — while not putting the club at risk.
Suggestion for Pedro — move away from a financial budget on an annual basis to a strategic financial plan for the next 3 years. The one concern I have is that we have a former CFO acting as a tactical CEO and despite his best efforts , he may be the biggest hurdle to achieving the success open to us.
Fourgreenfields
Brilliant mate.
Never tire of seeing that
Just wondering……
if Sevco have no intention of posting a new NOMAD, despite Mr King’s statement prior to the EGM, why bother posting accounts on the AIM?
Or are Sevco about to pull a rabbit out of the hat?
If they do so, I am pretty sure it will have myxomatosis.
Back from Malta yesterday after spending some time with Zico Maltese Bhoy and Mrs ZMB and meeting some of the Malta Tims network. Zico can tell a tale or 3 about his exploits in Junior Fitba over a small refreshment too !!
And now I’m watching sleet, snow and hailstones bouncing off my windows here in sunny Embra !! At least the rain in Malta was warm !
Still the latest financial pronouncements from Ibrokes has warmed the cockles of my heart, as did the ongoing great work done by the Kano Foundation team and those hardy Zip Liners !
We as a club are so much more than hard numbers on a financial statement, something that Loss Making Concern cannot grasp yet alone aspire to.
HH
If the mullet can keep the nuclear of the side together for next season it’s all systems go
Bfdj
Embramike
Welcome back bud.
Bet Malta ain’t as good as the Burgh!
The problem Sevco have is that they spend 1 million pounds a month more than they earn.
Until they sort that out, they will require soft loans and one-off emergency funding month after month after month.
Everything else is irrelevant. The losses are currently simply unsustainable.
BT
Thanks for that buddy
Tiny Tim,
It is the only obvious plan, as far as I can see.
Part of King’s portfolio of crimes was money laundering.
Scotland will take on the Res12 case.
If you consider that the most vile mass murderer is guaranteed legal representation, without the case reflecting badly on his legal team, what motivation is there for the inability of engaging a solicitor in this case,Res12?
Conflicted?
A corrupt Establishment will ensure their survival.
Off to have fun at the dentist.
2022, haha they’ll be on there 5th club by then still telling the world there the same club. Mad zombies some day it will sink in the party was over the minute Craigy bhoy got the keys HH
Burghbhoy @ 13:30
Embramike – Bet Malta ain’t as good as the Burgh!
Checking out flights to Winchburgh now :-)
Embramike
You know it makes sense m8
HH
So the Murray with nae cash is whooping up the 150th year anniversary coming soon.
Surely then the 258 creditors should have a good shout on what’s owed to them?
Surely !!!
Meanwhile on planet Sons of Struth all will
be ok. The “thinking” seems to be.
Real Ranjurs men are now in charge
What could go wrong ?
Oh dear.
Delusions and train crash springs to mind.
excathedra44
Yep. The claim to be the same club is what the HMRC will pursue irrespective of the entity.
After all, they bought a lot of assets for £5.5 million which, magically, were discovered to be worth > £30m and Paul Murray was issuing statements at the weekend that he wanted all previous creditors to get as much of their money back as possible
He has a 7 year plan which will need up front funding. Institutional funding is now out of the question so it will have to be via The Rangers people, wealthy investors and fan based small shareholders. As we know, there have been constant queues of these people dying to invest for several years.
Now is their chance – just need to remind them of the material uncertainty over the CW claim. I am sure that the Daily Record will assuage their concerns and provide a company guarantee to everyone who invest in The Rangers and loses their money should CW be successful.
Won’t they?
Did I hear properly that the zombies have to give Newcastle half a mil if they get promoted, shrewd guy that Ashley fella
From the ‘interim results’….
“So the simple truth is Rangers needs every fan to invest in the future”
thats the simple truth deidco fans – geez yir money!
Paul67
I’ve got a wee spreadsheet gizmo that says if this is your income and after you take away normal expenditure this is your weekly wage bill to stay out of the red..
It needs updated to reflect latest accounts and numbers of playing and administration staff, but based on 45 of former and 175 of latter the average player wage bill in the SPFL is between £5k and £6k.
I’ll send it to you unamended.
Phil MacGiollaBhain @Pmacgiollabhain 10m10 minutes ago
One of my number crunching pals just said that it wIll take a Sheikh Mansour type benefactor breaking all of the FFP rules to fix RIFC/TRFC
My favourite shitcom just keeps giving and giving …
Phil, appols if posted already.
No doubt the stenographers will obediently regurgitate the PR prepared copy next week on cue.
De-listing of Rangers International Football Club (RIFC) is really no biggie, nothing to see here move along.
Indeed it may even be served up as part of the Grand Plan.
However, a source close to one of the institutional investors took a rather different view when I spoke to him last week.
His view of RIFC was “No NOMAD, no money, no hope!”
He certainly seems on firm ground with the first part of his assertion.
My chap in the Square Mile stated to me that it had “…all gone quiet…” on that front a few weeks ago.
He was confident that if there was something afoot then the City was a very gossipy place.
What he had heard was that the chaps on the Alternative Investment Market (AIM) had informed the appropriate people at RIFC that there was “no wriggle room” regarding a NOMAD.
As for the second then there IS money for as long as the major shareholders want to put it in.
The £1.5m loan last week was unsecured because there was nothing of value to secure it against.
Mr Ashley has all of the assets secured that could be secured.
Only Ibrox was not involved in the January loan.
A reasonable person could perhaps deduce that this means that the stadium that John Brown played for is, in some way, encumbered.
Mr Ashley has not gone away you know.
The contract between Rangers Retail Limited and RIFC remains extant.
Moreover, he is providing the very best legal representatives for Mr Llambias and Mr Leach as they are being probed by RIFC regarding their time on the board there.
As for the third then there is always hope.
However that can have a cruel edge to it