blanco Posted May 21, 2015 Share Posted May 21, 2015 How does sticking another £1.5M in this month, like last month and the month before to cover the obvious shortfall and keep the lights on, wages paid and bailiffs from the Marble staircase count as investment ????? Pissing good money after bad down the deepest darkest finance mess in Scottish football history would appear a more reasonable description. How does that equate to the club being "completely solvent" according to Paul Murray. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted May 21, 2015 Share Posted May 21, 2015 I think I saw that celtic spend 6x on player wages than Aberdeen, they have had a piss poor season in the league dropping over 20 points but are still going to win it by around 15 points, it really never has been in doubt. If celtic are spending 17.5k on wages then Rangers will need to be buying in at least 10k per week players to secure 2nd each year and win the league 1 year out of 3. King is setting his sights higher at 55% which would mean that he would need to exceed the celtic wage bill, that is not sustainable imo, hopefully the other directors keep this ambition in check, the difference is that King does not own the club, he currently owns 14%. I don't have the figures at hand as I'm on my mobile, but if Celtic win on Sunday they will finish on 93 points, which more often than not would win the top division. If that's a poor season then the gap is bigger than i would suggest. From their appointment of Deila, I think they are changing their approach to how they operate, in terms of developing players who have cost less rather than buying players who start at a better level but cost more. That is the only sensible option available for clubs of that size for me, and is what Rangers should be doing long term. Basel, these days at least, are a great example of how to run a club who are big domestically, small in relation to most of Europe, but who still harbour ambitions of a decent run in European competition every year. They pay low basic wages but offer massive performance related bonuses. Their playing budget for the year is in the region of €18m a year but f they qualify for the Champions League they pay out closer to €28m with most of the CL cash going towards players bonuses. Their average basic wage is far less than the figure you have quoted for Celtic. 0 Quote Link to comment Share on other sites More sharing options...
accietilleyedye Posted May 21, 2015 Share Posted May 21, 2015 Dave King has sailed close to the wind with South African tax authorities and going with that I would expect him to do the same with Rangers. I wouldn't be keen on someone like that running the club I support but Rangers fans are desperate to get back to the old days. Did see a bit of his interview and talk of investment of 30 million which he will put in 1/2 over the next 4 or 5 years seems unlikely imho (although he said it could go higher if they don't achieve promotion or the next season finish 4th or 5th and don't qualify for Europe) So between 6 and 7 million per year is how much he reckons he will need to invest, to compete with the other cheek, each year for the next 4 or 5 years? Haven't the 3 bears already put in 4.5 million in 3 months just to keep the lights on ? 0 Quote Link to comment Share on other sites More sharing options...
jimmy boo Posted May 21, 2015 Share Posted May 21, 2015 From BBCScotland Just one of the many things in that article that tickled me. Hopefully Ashleys patience will snap soon and he will grind the sorry mob into the dust. 0 Quote Link to comment Share on other sites More sharing options...
p&b is a disgrace Posted May 21, 2015 Share Posted May 21, 2015 They have dropped over 20 points in a league where they outspend their nearest rivals by 6x salary levels Come back when their salary has actually dropped. Are you serious ? You're surely tugging my wire ? 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted May 21, 2015 Share Posted May 21, 2015 They have dropped over 20 points in a league where they outspend their nearest rivals by 6x salary levels Come back when their salary has actually dropped. So what should they be picking up? Football isn't as simple as "pay the most and you'll win every week", if it was there would be no need for teams to actually play. For what they spend, they should be picking up more points than everyone else, unquestionably, but to suggest they should be picking up over 100 points is unrealistic. Even Real Madrid and Barcelona drop points, despite spending many multiples of what their opponents spend. That's moving away from the point of this thread though. If Rangers try to spend their way to instant success it might work short term, but long term it's just not sustainable. 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 21, 2015 Share Posted May 21, 2015 The master of the semicolon Strikes back ..... Shove your semi up your colon! 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted May 21, 2015 Share Posted May 21, 2015 3 and a half years and this thread still going????? FFS what a tiny minded wee country no wonder the English laugh at Scottish football. This thread still be running in 20 years now doubt with the amount of obsessives on here. New wurrld record, dontcha know! 0 Quote Link to comment Share on other sites More sharing options...
Ken Fitlike Posted May 21, 2015 Share Posted May 21, 2015 A lot of people seem to be of the belief that king is in sole charge of things, he isn't. On second thoughts, you could be right. Mike Ashley is probably in charge of things - to a greater degree than you may be comfortable with. 0 Quote Link to comment Share on other sites More sharing options...
chimneyman Posted May 21, 2015 Share Posted May 21, 2015 If celtic are spending 17.5k on wages then Rangers will need to be buying in at least 10k per week players to secure 2nd each year... Rangers spent this to secure 3rd place in the Championship. £14.7M / 25 players / 52 weeks = £11.3K weekly wage or thereabouts 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted May 21, 2015 Share Posted May 21, 2015 If Rangers try to spend their way to instant success it might work short term, but long term it's just not sustainable. This is, of course, not only sensible but the approach pretty-much every Bear on here wants to take. We all want a balanced budget and to exist within our financial means. We are sick to the back teeth of cheque book chairmen. Of course, the diddies will scoff at this but this is what they do. 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted May 21, 2015 Share Posted May 21, 2015 Rangers spent this to secure 3rd place in the Championship. £14.7M / 25 players / 52 weeks = £11.3K weekly wage or thereabouts ^^Thick as f**k 0 Quote Link to comment Share on other sites More sharing options...
chimneyman Posted May 21, 2015 Share Posted May 21, 2015 (edited) ^^Thick as f**k I know, and it was thick c***s like you that paid for it! Edited May 21, 2015 by chimneyman 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted May 21, 2015 Share Posted May 21, 2015 So salty My missus says that when she is sucking on my boaby, so I'm assuming King's tastes the same eh Tedi ? 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted May 21, 2015 Share Posted May 21, 2015 We are what we eat. You've been chewing on King's boaby, so what does that make you ? 0 Quote Link to comment Share on other sites More sharing options...
Vanderlei Posted May 21, 2015 Share Posted May 21, 2015 Rangers have taken a £1.5m loan from Dave King following the incoming chairman's claim it will take an investment of around £30m to get the club competing at the top of Scottish football. The South Africa-based businessman was appointed to the Ibrox board on Tuesday immediately after passing the Scottish Football Association's 'fit and proper' person test. King's temporary working capital is an alternative to a second £5m loan from Newcastle United owner Mike Ashley. The money has been provided until the end of the year in order to give Rangers "time to deliver a longer-term funding solution" following several months of financial difficulties. Paul Murray, who has acted as interim chairman since King's group overthrew the previous board in March, confirmed the move and said other similar developments are expected imminently. He also revealed the club will likely be listed on the ISDX Stock Exchange soon after being removed from the AIM equivalent at the start of last month when its nominated advisor resigned and was never replaced. Murray said: "There has been additional investment made. Another £1.5m was invested in to the club, just as working capital. Because of the share structure and the de-listing, there’s obviously technical issues. "You can’t just issue shares tomorrow and so we have to provide that by means of short-term funding until we get to the process of raising capital through a share issue. That will probably coincide with a re-listing of the club on the ISDX exchange." When King and his allies won control in March, he said he felt the same figure he quoted again on Thursday would be required to get the fallen Glasgow giants back to the level they were competing at before going into administration three years ago. He has, however, conceded the approximate total could move either way depending on how quickly promotion to the SPFL Premiership is achieved. Caretaker manager Stuart McCall's team won the first leg of their play-off semi-final against Hibernian on Wednesday but will have to negotiate their way through three more matches to go up. King, who has promised funding will be provided for a Premiership-standard squad this summer no matter what league Rangers are in next season, believes remaining in the second tier could push overall costs up. Conversely, he feels claiming a place in the top division this month might result in less investment from him and his supporters than initially thought. Competing Either way, King has pledged to deliver half of the costs required prior to any possible new investment from elsewhere, with the rest of the board covering the rest. He said: "The timescales will vary. What we have to do is get Rangers back to competing with Celtic for the Premiership and winning 55% of the time. "We want to be more successful than they are and getting in to Europe. The level of investment required to get us there is not a known factor, we can't be sure of that. "By way of example, if Rangers went to the Premiership and didn't come second in the first season and came third or fourth, you would have a second season without Europa League income. "My view is that whether it is one season or whether it is two seasons, we are here to see it through to the end. “If you were to ask me, I think that I made a comment before of about £30m. That will likely be the gap that shareholders will have to put in before we get there in addition to the normal revenue streams coming into the club before we become self-sustainable. “If we were to miss a year in the Premiership then it could be up to 37 or 40. If things go really well and we can change the commercial relationships then that might go down to 25, but it's certainly tens of millions and it is not a finite amount of money. “If Rangers don't do it in year two or three then we aren't going to stop. We will go for year four. We are determined to get there and get the club back to where it has to be." Sky Sports. 0 Quote Link to comment Share on other sites More sharing options...
The_Kincardine Posted May 21, 2015 Share Posted May 21, 2015 Rangers spent this to secure 3rd place in the Championship. £14.7M / 25 players / 52 weeks = £11.3K weekly wage or thereabouts ^^Thick as f**k I know Glad you acknowledge it, chap. We have enough 'stupid' on this thread. 0 Quote Link to comment Share on other sites More sharing options...
paranoid android Posted May 21, 2015 Share Posted May 21, 2015 Wrong What are the actual figures? 0 Quote Link to comment Share on other sites More sharing options...
sergie's no1 fan Posted May 21, 2015 Share Posted May 21, 2015 Why is Dave King loaning £1.5M. Should it not be investing £1.5M? And why do they need to raise Capital through a share issue when Dave King said he will be putting in £30M? Or will he do it through the share issue? Bit confused sorry. 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted May 21, 2015 Share Posted May 21, 2015 Tedi using his aliases to CnP shit incase it comes back to haunt him...what a loser. 0 Quote Link to comment Share on other sites More sharing options...
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