Craig Whyte laid out Rangers finances in a statement today, released in response to the Daily Record’s series of articles on the club this morning. Whyte explained Rangers operating costs are around £45m while their income is approximately £35m, adding that the club needs to “live within its means”.
He confirmed the central allegation from the Record, that Rangers have securitised income from future season ticket sales in order to provide money for the club to pay its current costs, while denying they owe £5m VAT.
I have refreshed the page several times since an initially read and see no attempt to address the glaring question, if Rangers are spending tomorrow’s income today, what happens tomorrow? It beggars belief that someone thought it was a good idea to confirm a fact like without addressing the enormous question now hanging over the club.
Maybe an octopus ate Craig’s homework.
I’ve no idea how much money Rangers have in the bank right now, at this time on transfer deadline day, no one even seems to know if they have sold prize-asset, Jelavic, to Everton, but no matter how much of the securitised income remains, if this is not a dead parrot, it’s in severely poor health.
More power to you, Craig. I’ll not have a word said against you.
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up_over_goal says:
31 January, 2012 at 19:31
Q.Rangers fans: “Gonnae jist tell us the truth?”
A. your a bunch of cheating tax avoiding bas*ards
adi_dasler says:
31 January, 2012 at 19:30
Genuinely think we have more than enough fire power to see us through
Im not as convinced about our defence
Hello all CQNers, just got back from my 12 step program today, funny enough we had a new guy come today, although I cannot let you know everything that went on I will ask you to finish this centence: Hello my name is craig and I have been ripping off companies for over 15 yrs now……
Hail Hail
Finnharp
Whyte might end up in the jail after this unfolds
Just on SSN The FPLG leaving Ibrox with a face like Thunder………………………………………………….Time for a song from Alison Moyet…..
ernie lynch says:
31 January, 2012 at 18:59
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It is an “alleged” assault, and so far, as far as I know, there has been no decision by the Italian courts.
Not sure if this has been posted or if anyone has seen it – I would be surprised if not.
Posting it as it’s a good read and proof that they are(were) living beyond their means whilst the rest of the SPL tried their best to balance the books
Where has the Queens money gone?? And this from their partner
Paul67
A big big thank you for this site
HAIL HAIL
pyfinl
Please chums don’t buy it…….
We can get everything we need here….
That mob have never done a thing for us. Let them fold with their ‘special relationship’ friends.
This is all about getting rid of the patsy, not the club.
Hibs have signed Izzy’s pal, even though R*ngers couldn’t afford him. Wooft.
I didn’t think Clyde could make me laugh more tonight than last night.
What do I know?
on clyde : star man john fleck goes out on loan…….cue copius ammounts of laughing.
PC67
canary bhoy says:
31 January, 2012 at 19:31
Mick
Believe the guy 100%
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Well someone posted earlier that more revelations coming out tomorrow, which could prove to be the final nail….maybe ur correct??
EWO
I agree but …….
Could be a big striker
Thanks to The Exiled Tim at 18.48 for the Radio Clyde link……stuck up in Aberdeen on business……….great laugh!
CRAIGWHYTECSC
HH
i just love days like these
twists n turns says:
31 January, 2012 at 18:49
” If Whyte is unorthodox, smart and has a plan and cash, then not investing before the case makes the most sense for him (and also ultimately for Rangers). Why take the risk of going into administration after spending Rangers money when you can pass part of the risk on to an unsecured creditor? Unfortunately, if he’s stupid, dodgy and has no cash or plan, then it looks exactly the same at this stage.
All I’ll commit to at this stage is that he’s either very smart or very stupid, and irrespective of the way the media are spinning it, they both look the same just now”
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And there in bold you have the core of the problem.
No regard for the creditor.
As Craig Levein said “its all about Rangers”
Does everyone forget Sarkozy getting his baws toed by FIFA for interfering with the French team due to their strike.
So what do Rangers and Salmond have that Sarkozy and France dont.
Any hint of government interference and FIFA will come down on us like a ton of bricks.
Here is a link to remind you
http://soccernet.espn.go.com/world-cup/story/_/id/5330696/ce/us/france-watch-barred-government-action&cc=5739?ver=global
HH
delahunt just read out RTC’s tweet!!! king must be beelin’ lol
Listening to Radio Clyde phone-in show (a first time event) and whoever the journalists are (Jim Delahunt, Mark Guidi, and Darrel King?) they certainly are not the inheritors of the investigative journalistic skills of Bob Woodward and Carl Bernstein.
They seem to be a peculiarly inept and talentless bunch.
These chancers must have been seen as a blessing to the wily foxes such as SDM and even MBB who have run rings round them.
With a run in Europe MBB might have got away with it for a while longer anyway.
clyde reading out RTC tweet haha great…
Sorry not really clued up on these glowns on Clyde what makes them experts sound like right diddies
BREAKING NEWS
Someone called Peter Dean seen walking into Ibrox…He left Pi**ing himself 5 minutes later.
Dawwyl ” we don’t want to get anything wrong” why change the habit of a lifetime ya tool?
Do member clubs have to register their colours ( tops, shorts, socks) with the SFA or SPL? You know, to avoid kit clash etc.
And having registered the team colours and livery does that mean another club , coming later, can’t enrol with the same
If one club, say, who used to own the rights to royal blue shirts, white shorts and black socks with red tops, went out of the game, would that free up their dibs on that rig out?
And, that design being freed up, could another member club register, say, a fifth strip ( for use on third Tuesdays after Whitsun when playing in the Faroe Isles) thereby preventing a new entrant to the league from registering said design, like, ever again? Particularly the horrible socks.
Be worth it to ensure any Rangers Newco had to play, say , in a nice new look.
All white , with big pointy hoods , I think. Suits you sir.
cheap dig @ RTC from dawyll
PC67
Radio snyde asking for help from the bampots in the media
Hilarious
Been on snyde for ten seconds and they’re already having a go at the rangers tax case twitter page! Classic
Dawell sounds on the point of tears…oh me sides!
Fat Paul le Guen takin his baw hame
http://i44.tinypic.com/1i7n4.gif
jesus h christ how many times have these guys said “we don’t know”?
and they’re meant to be bloody journalists!!!!!!
laughable
stephbhoy
:-D
Think of how much groundwork had been done by concerned Celtic fans PRIOR to Fergus’s takeover bid, and now consider that they haven’t even troubled themselves to force an AGM, yet now they phone up journalists who were churning the spin to demand answers – off-the-radar irony.
Sportsound’s daily podcast is now ready to download. Former Rangers chairman Alistair Johnston speaks to us about… http://t.co/GJOxEore
Is it King of the rags
Poor davie, speaks the truth and gets cut off…… All he said was Craig Whyte is a liar!
Delahunt just cut someone off for calling Craig Whyte a liar
OH OH OH ITS MAGIC ….YOU KNOW
It’s a got to be a wind up!! Brilliant call…
Hahahahahahahahahahahahahahaha
Love Graham!