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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The hurt in Darryl’s voice is a pleasant lotion to my ears
No move for sammy
“Face up to the reality”
So Darryl’s opening line is “the club is slowly disintegrating and heading to crash on the rocks”.
Claros to hibs.
This window gets better and better…
HH
I believe Alastair Johnston is going to be on the BBC soon … which maybe even more enlightening.
If Jelavic confirmed, Jamie Murphy of murderwell £4ook
Keep the Faith!
Haiol Hail!
BRTH
On a day of quality posts another standout.
Ooooh Clyde mood is grim.
Enjoy the ride on Snyde folks!
Guidi – A triallist came in today from Cameroon and was sent back after an hour.
Where’s the money???
Rangers financial plight is clearly exaggerated – Mark Guidi has revealed on Clyde that they were able to afford to give their most recent trialist lunch before sending him home.
starry plough says:
31 January, 2012 at 18:11
Where’s the money???
share
http://www.youtube.com/watch?v=ZomwVcGt0LE
Paul67
I commented on the future impact.
” Auldheid says:
16/06/2011 at 7:40 pm
I’m wondering just how paralysing all this is for future planning at Rangers?
Glad its not something Celtic have to worry about.”
Mind you that was on the RTC blog last June. It was as much a no brainer then as it is now.
They offered 500k for Grant Holt – hilarious
Clyde : “Who in hell at Ibrox thinks that 500,000 pounds is going to get Grant Holt from Norwich. It is an insult to our intelligence . . .”
is that the legned John fae cowcaddens oan noo??
Anything much happening out there?
I assume from August and now January that we believe Majstorovic, Mulgrew, Loovens and Rogne are more than good enough to see us through the Europa and the League.
Hmm.
Forget the ‘targetman’ bring us a centre half on loan for 6 months!
Sandaza in Spain.
tully57 says:
31 January, 2012 at 18:12
Tee hee:)
John on Clyde says “no more season tickets”
Does he not know he;s already spent the next 4 years money, ah ah aha h
STV: Jelavic replacement will be … no one
Traffixc alert interrupts Clyde sport.
Breakdown in Govan…….
Oxford United have completed the double signing of Wycombe Wanderers’ Scott Rendell
.
.
.
I hope we dont live to rue the day we missed out on that one!
starry plough,
John was last seen heading for the Erskine Bridge.
Hail Hail
obonfanti1888 says:
31 January, 2012 at 18:13
FAF
Eyes Wide Open
Is that not Ruth’s boy, or is it still a mystery?
noo the weather
Dark clouds over Govan….
cmon – back to the prog
500k for holt!!?? what an embarrassment of a club
500k for Holt?!?
Hahahahaha!
STV: Huns apparently looked at Salihi, Sandaza and the Falkirk boy – but decided to sign none of them.
And Hibs have signed the Honduran the huns couldn’t afford – hilarious!
It’s only my second time on Clyde, I Think I came in a Good Point..
Thanx to The Exiled Tim for the link..
On a train to London so grateful for the updates. Tell me they did not bid £500k for Holt – thats got to be a wind-up???
Starry, link no workin for me :o(
Swiss
“You could name abut 20 things of the top of yer tounge thats bad about craig white”
Brilliant.
caller says “I could name 20 things off the top of ma tongue”
Is that Declan calling??
Swiss Tony says:
31 January, 2012 at 18:20
I got it thru’ I-Tunes Swiss..
a mournful sounding chick young tonight
UC
I read Craig whytes statement haven’t read many comments since then but I do find it deranged that he talks about the need to slash running costs of the club as there is a deficit of 10 million. Only a matter of months ago it was 7 million he was saying had to be slashed from running costs. Is he just throwing any old numbers out there? Or is he talking that much bull that he forgets what he’s saying from one month to the next?