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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Maybe the asset stripper and the buffet stripper have already kissed goodbye?
Celtic40me-Yeah he fits the hun prototype.hh
When Ragers eventually go to the wall and are reintroduced as an average financed newco club coming up through the divisions then the incentive for one of the top tier SPL sides would be to create a “new firm” rivalry with Celtic and banish the old firm tag for good. We could have a Highlands Lowlands rivalry or the big intercity derby with an Edinburgh club, sure the prospect of this would appeal to all relevant suitors for the joint position / rivalry with Celtic. If this idea was drip fed to the suitors after ragers go bust then selfish reasoning may ensure ragers exclusion from the SPL by the teams taking part in the vote.
oglach says:
31 Jlanuary, 2012 at 23:48
Maybe another Killyleagh connection!
Barcabhoy says:
31 January, 2012 at 23:52
The policy is right at the moment IMO, I can see that Neil would want to bring in 1 or 2 old UK heads to bring on this young team but there are no obvious guys to spend a bit extra on at the moment. Roy Keane leaving Man U now would have been a perfect signing but just like the Maestro being paired with Henryk being a match made in heaven it is just different times.
The main point is, as you say, the guys we are getting are hungry and talented.
Midnight: it has been a wonderful day..
pigalle>
Tehy think it is all over – it is now 00.01 1st FEb
I can see this guy getting lifted.
Meanwhile at ibroke !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Pauloanthony 23.48
first thing that struck me was cash in bank compared to net worth of company but too many to look at for a non money man like me.
HAIL HAIL
Been a great day all round, with the promise of more tomorrow….
Heard Neil Warnock on Talksport this morning, he watched Jelavic twice and said both times he was terrible, so we didn’t bid.
Really don’t think he is a good player, just a decent one who will get 10 or 12 a season for Everton. But they are so going to miss him. Brilliant.
TJ
I started looking at this for detailed analysis on the dougiedougie fiasco.
It has snowballed to such an extent that its the first click when the comp comes on. Incredible.
The day is nigh when we wont even have to say “the tax man cometh”
The day is soon approaching when there will be nothing they can say which will have any effect as their club will be so wrapped in turmoil any comment on ours pails in comparison
The day is on the horizon, where, the war has been won.
tic toc…
Read earlier that the huns had let 11 players go,anybody know all the names so i can wind up the huns i know
huns 5 oot
wan in
eh???
Hibs sign 4 players today and 7 in the window……i guess thats possible when you have
1) a supportive chairman
and
2) a banking facility
THE EXILED TIM
As I said before, the more times you go close the more likely you are to win often. ;)
With the technology we have at our finger tips it is better to narrow down the outcomes to 2 rather than 3. :)
If their club EVEN exists,
and what DO the orcs do if there suddenly is no more Rangers?
Im reminded of the end of LOTR where a chasm erupts through Mordor and swallows them whole, while those not there wander the earth blind death and dumb with no dircetion.
As much as Govan being swallowed whole would improve Glasgow I dont see it happening. The blind eath and dumb does seems rather apt though…
i got
fleck
mcmillan
k hutton
jelly
ortiz
11 ???
We reality check for us. If thems beat D U at the weekend they’ll be tops for a week. Hope 10 feet of snow hits £land on Saturday.
For a good few years now I’ve had access to Follow Follow , mainly to try and get a grip on what alternative thought processes are out there in connection to Scottish football.I only occasionally lurk on there , never posting and on the whole I’ve found the majority of posters on there to be loathsome scumbags. Indeed many times in the past I’ve been tempted to post a reply , knowing that it would lead to an instant ban for this “Timmy”, but , hey , it would be no real loss to no longer have access to that foul site , particularly when more and more time is spent reading CQN , and RTC.
Well guys , I’m ever so glad I resisted temptation and didn’t put my head above the parapet , as it would have meant I would have missed out on the COMEDY GOLD that is Follow Follow tonight….genuinely a laugh a minute with almost every 2nd post a beauty .
Let’s hope this farce runs and runs…….
Having read brilliant posts on CQN and RangersTaxCase tonight it is quite incredible to witness the gulf in both quality and honesty between ordinary amateur posters and the so-called professional media in this pathetic country.
Even as their beloved club goes down the hole the sheer two-faced hypocrisy of these newly converted soothsayers in the main stream media is sickening as they stampede to ditch Whyte and tell us that they knew all along he was this and that.
Copyright Ch1ck, Dawyl, Ra-man and all the rest …..
“We are at war with Eastasia. We have always been at war with Eastasia. We have never been at war with Eurasia”
Thank God I’m a Celtic fan.
Hail Hail & Good Night.
petec/oglach
If a decent juro was to have a wee dig, and they wouldn’t have to dig too deep btw, who knows what they might find.
As for MI6, they will be on the case, as will others.
The gay dog still has his bark, he has lost his teeth, he never really had any in the first place, a chocolate gangster at best, his Mrs. had more baws that he ever had.
I asked a question about David Murray earlier.
Honestly don’t know why but…
does anyone have a clue as to why the old media continue to kowtow to him.
Serious question.
What exactly is the story ?
Will nobody break rank ?
Will they break rank now ?
Will anybody close to him ever talk about it ?
pigalle
Jude
Is it not Dundee Utd in the cup for them this weekend ?
jude2005 is Neil Lennon \o/ says:
1 February, 2012 at 00:04
Them V Dun Utd is in Scottish Cup they cant go top :p
HH
S Y
Wier
HAIL HAIL
RL
So, even if they did manage not to be liquidated this season there is no way they can get a European license for next?
SFA’s magical bendy Rangers Rules notwithstanding, of course.
SwanseaBhoy
http://www.evertonfc.com/news/archive/2012/01/31/image-gallery-nikica-jelavic
hahahahaaaaaaaaaahahahahahahahahahahahahahahahahahahahahahahaha
10 mill my earse
gordybhoy64
From RTC:
In
Mervan Celik (GAIS Gothenburg).
Out
Nikica Jelavic (Everton, £5.5million)
Kyle Hutton (Dunfermline, loan)
David Weir (contract ended)
Thomas Kind Bendiksen (Tromso)
Darren Cole (Partick Thistle, loan)
Kai Naismith (Partick Thistle, loan)
Jordan McMillan (Dunfermline)
Grant Adam (Airdrie, loan)
John Fleck (Blackpool, loan)
Sam McMahon (Doncaster)
Juanma Ortiz (Aleira, loan)
QB
Sheik,cheers canny mind where i read 11 but those 5 will do for starters,could throw in auld
davie weir too
Hi
While you lot have had the fun of listening to the phone-ins, which I can’t, I’ve been watching football on tv.
Swansea 1 Chelsea 1 (thanks to a deflection in the 93rd. min., it was meant as a pass, not even a shot).
Chelsea upped their game in the second half (more running and pressing than skill), but were otherwise second at the races for the 90 mins,
Listened to two English commentators, not sure who they were, but the former player “expert” was certainly not a former Chelsea player, he was actually a fan of good football and not a big admirer of “robust”, nasty or clumsy tackles.
Stats after 21 mins, possession Swansea 72% Them 28%
Former player admires it all and puts it down to the manager, Brendan Rodgers, and his philosophy and skill.
Then he points out that Swansea’s stadium and entire squad combined cost less than Torres.
He also thought it strange that Chelsea had a fine coach in Brendan and let him go which sounded like he rates him above AVB (the second special one).
Both commentators thought the ref was lenient re. Chelsea :
Too many tackles didn’t get the cards they deserved
Cole should have been off in the first half instead of the second
Malouda should have had a red instead of yellow in the second half
+ several other fouls which didn’t get the punishment they deserved.
All their words, not mine,
I know we all see this regularly, just as I know that most of you never hear commentators who can see beyond an establishment/big team.
I found it quite a breath of fresh air
The Celtic influence, supporters and former players, is playing a major role in the “best league in the world”. Not too bad for a minority in a minor country.
Cheers
Alex
Larsson and McStay says:
1 February, 2012 at 00:05
Share the fun!
gordybhoy64 says:
1 February, 2012 at 00:02
In
Mervan Celik (GAIS Gothenburg).
Out
Nikica Jelavic (Everton, £5.5million)
Kyle Hutton (Dunfermline, loan)
David Weir (contract ended)
Thomas Kind Bendiksen (Tromso)
Darren Cole (Partick Thistle, loan)
Kai Naismith (Partick Thistle, loan)
Jordan McMillan (Dunfermline)
Grant Adam (Airdrie, loan)
John Fleck (Blackpool, loan)
Sam McMahon (Doncaster)
Juanma Ortiz (Aleira, loan)
In
Mervan Celik (GAIS Gothenburg).
Out
Nikica Jelavic (Everton, £5.5million)
Kyle Hutton (Dunfermline, loan)
David Weir (contract ended)
Thomas Kind Bendiksen (Tromso)
Darren Cole (Partick Thistle, loan)
Kai Naismith (Partick Thistle, loan)
Jordan McMillan (Dunfermline)
Grant Adam (Airdrie, loan)
John Fleck (Blackpool, loan)
Sam McMahon (Doncaster)
Ortiz [Almeria] loan
Quadbhoy,excellent, cheers some of them boy wonders who were the future for the huns
paulsatim
To quick for me :>)
Still on dial up in the cave…..
From strength to strength eh?
pigalle says:
1 February, 2012 at 00:06
Speculating here but perhaps he is Speculative Society level.