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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northbhoy … \o/ says:
The wee Everton cleaning lady thought the loos had backed up but realised it was eau de’ibrox
Frank abagnale spotted at Murray park…
Saying he’s a world class footballer ready to partner jelavic
Says he’s a self made billionaire ready to hand ally a war chest… Front loaded!
That he will build a super casino to lavish riches upon their club
That he will build a sapporro dome superstadium with floating pitch to host concerts… With his own hands.
Saying that whilst working as a pilot has made friends with cash rich sheiks willing to sponsor the club…
Wow!
I’m afraid!
All that and a Motherwell billionaire partner!
Were doooooooooooomed!
Gordon J
Haha a sneaky £100k bid for Greg Wylde ;)
Cheats…….
and they are trying to cheat us again.
SSB so funny!!! the phrase ‘hurting huns’ is so appropriate while listening to SSB tonight
I’m sticking with Snydes World of Pain at the mo but any posting of nuggets from Shortbreed gratefully received!
I tell you what, listening to Snyde? if we can sign one more player they will implode/explode/drop dead.
We shouldn’t reflect on bad investments but I can’t help but think had Whitey kept that pound in his pocket, he could have travelled east and picked up 2 perra sports soaks for that money.
“Two furra pound two furra pound”
The only thing we are lacking to add to our fun – is someone else in Scotland having a few quid.
Could you imagine a £250k bid going in for Broadfoot from Hearts and the huns accepting
The wee boy from Kelvinsidde Acadamy is absolutely bouncing off the FB from EK, Sad Sack !!
Kin somebudy..
Gie us a Sample o’ whit “the people” Are saying oan Follow Follow
aboot this
Unsurprising Turn o’ Events???
Ah wid Luv tae know..
Kojo
I SWEAR that wee daryl was struggling to hold back tears during that “we’re getting shafted” call!!!
If there are no signings at Tax Dodgers XI tonight, i wouldn’t be surprised to see McCoist walk before the weekend
Starry, naw, just dont know how to do that! I-tunes is the work of beelzebub, ah still have bother synchronising the phone…
Swiss
Wee Dawwell morphing in to Grant fae Perth.
Will they be turning down another £28m bid from an unknown club tonight? Mwahahahahaha
Arch Hun shortbread correspondent McLaughlin continues his poor smokescreened veil pulldown in true Jabba gimp work the soothing of Orc Inc.
Billy Davies as guest hun excuser adds only more to the mystique a BBC shortbread their historical hun flavoured and well paid impartial analyses a club whose carnage impacts their ability in future to
rationalise the employment decisions of a management now tainted by their blacked out audio discussions over many years’ the online print a massive story lost to them through craven self serving; a clutch of licensed hun comforted merchants.
feck them all.
They are trying to sink the toxic waste of ranjurs in drum marked CW……..
Wheres wee davie and the rest of them?
Where’s the money!!!
Dawwwwwylllll
Kojo
I posted a few earlier this morning. I’ll go and put ma gas mask back on and pop in for 5 mins again shortly.
Rangers are unlikely to add to their squad before the close of the January transfer window, STV understands.
Manager Ally McCoist had identified three players – Hamdi Sahili, Francisco Sandaza and Kallum Higginbottom – as possible replacements for the Everton-bound Nikica Jelavic.
Rangers also failed in a bid for Norwich City’s Grant Holt on deadline day, with their offer rejected by the English Premier League club.
More to follow…
Aye, me p1ssing myself laughing :0)
Cmon clyde get another hun on, I need to hear theirthe pain they are in.
Lovinitcsc
Dawyl – “if you ask someone to their face a question and they answer you with a bare face lie what more could I do?” On being more investigative.
Shameful pantomime…….
Radio Shortbread
Alastair Johnstone: HMRC are investigating Craig Whytes purchase of Rangers!!
as a result they contacted ex Gers board members and gave them the Ticketus info– and they went to the DR!
So which one of these esteemed broadcasters
will be first to call for government intervention
ala the banks ?
Forthesakeofscottishsocietycfc
ASonOfDan says:
31 January, 2012 at 18:40
RC said they bid 500,000 for holt ,I am amazed they did not get him
hailarious haillarious
Chick Young still keeking himself. If you know something REPORT IT! It is your job after all…
There is this nightmare which keeps recurring in which I have to make a choice: undertake the search for the truth about what is really going on at Rangers, or a journey to the centre of the earth?
Pass the shovel, please.
The machinations of the Ibrox boardroom and the web of intrigue which has been weaved around the club have, from this correspondent’s viewpoint, been embraced with something approaching apathy by huge swathes of the support.
It has been a scotoma, a refusal or inability to see what is really happening. Or was. Suddenly, at long last, they seem to be a little concerned about the future of the club and the history of its owner.
Rangers, at best, are on the ropes. At worst a total shambles.
It’s less than a year since the then chairman Alastair Johnston, full in the knowledge that he was signing his own death warrant, admitted for the first time that the club would go bust. He was at the time vilified for the mention, although in truth he only nodded in agreement to the suggestion that they would.
Now? The word “administration” is glued to the end of every sentence in which the club is discussed.
Rangers, once a class act in the transfer window, have operated this January like they were in a car boot sale
A BBC investigation – Rangers: The Inside Story – was the first media outlet to question the role of Craig Whyte and now the Daily Record has posed question marks about the way the club is being run.
Whyte responded in predictable style, trying to deflect attacks on him by suggesting they were assaults on the name of Rangers. This is palpably not the case.
According to the newspaper – and former chairman Johnston – Whyte sold off four years of supporters’ money to Ticketus, money which was used to buy the club.
In response, Whyte claims that such a financing arrangement is commonplace and allows a club to receive revenue from a portion of season tickets in advance. True. But the usual practice is for three or fourth months, not all the way to 2014.
The club has hawked its soul. And not paid its debts.
Rangers, once a class act in the transfer window, have operated this January like they were in a car boot sale, the flotsam and jetsam of the market place turning up at Murray Park for a quick look round.
I believe that the accused are now requesting their trials there, confident that they will be released after a day.
Whyte talks to Rangers fans at Saturday’s home game against Hibernian
If that’s a bad joke, then this is not: Her Majesty’s Revenue & Customs say Rangers owe £49m made up of unpaid tax and penalties, related to Employee Benefit Trust payments to staff more than a decade ago.
We await a verdict on the case but if the Revenue lose the case they are expected to appeal.
Ultimately this could go to the House of Lords.
But more than that they have still to pay the lesser tax bill of £4.2m – original fee plus penalties – which Whyte agreed to embrace as part of his deal to buy the club from David Murray for £1.
Promises of transfer market war chests? Spanish galleons must have sailed up the Clyde and pillaged them from Ibrox.
In the meantime, there has been no agm, no board meetings and no information from the owner, save from the occasional rant from him about the BBC and a consequent refusal from anyone at Ibrox to speak to the Corporation.
Curiously enough, incidentally, the Record have not been dealt the same huff.
John Greig, voted by the supporters as the greatest ever Ranger, quit as a director and walked out the back door after half a century of service because no-one would tell him what was going on.
And if what I have been told is true then there is more to follow.
And the truth for all we know might be down there deep below the earth’s crust…
Kojo
we shall start with the “naebuddy likes us we dont care” approach
“Bears, we must take a stand against both these corrupt elements of mhedia who clearly have not just an agenda but a deep rooted hatred towards our club.
If they lose even remotely close to 50% of their listeners/readers, they will lose unsustainable revenue and realise just how powerful we can still be.
Don’t line the pockets of those who want to destroy us”
Hello folks, Today I feel is like the calm before the storm…I really think we are at the part when it all happens very quickly now…It really feels like something huge is going to happen quickly…
Anyone, can see that operation “lets turn on whytey” has just begun…what will his next move be? can he take this heat? will he just finally get out of there quick style?
…..I am enjoying this,..I really really am. Just bought a wee bottle of moet for theyre final hour.
DeniaBhoy says:
31 January, 2012 at 18:42
‘Dawyl – “if you ask someone to their face a question and they answer you with a bare face lie what more could I do?” On being more investigative’
He’s so clueless he doesn’t realise how pathetic that answer is.
Very comfortable platform given to AJ on the national broadcaster………………..
Can anyone remember the bitter, fevered interrogation we got over the Ref’s dispute………..???
i hear that pitchfork sales in Ibrox have gone through the roof…
Pathetic dig there from Dawwyl,,,,whit a wee fud!!!!
Hail hail
Is that Declan on right now?
Ho ho ho Daryl getting it tight, hows this for good journalistic practice:
“what more can you do if someone lies to your face?”
THAT is the standard of sports journalism in scotland lol
Hun on now saying the fans have to “give CW time, give him a chance to sort it out”. Penny still not dropped there then :)
If McCoist wasn’t a Rangers man I think he would be gone by now.
He has a big decision to make. Mind you, he could stay and go down in history as their last ever manager