Chrambo Posted April 10, 2014 Share Posted April 10, 2014 What is the justification for the estimated worth of Ibrox and MP? Link to comment Share on other sites More sharing options...
Footballfirst Posted April 10, 2014 Share Posted April 10, 2014 (edited) What is the justification for the estimated worth of Ibrox and MP? The accountants tend to use a method called "Depreciated Replacement Cost" when valuing stadia. I believe that it equates to the cost of replacing an existing stadium with its modern equivalent, together with up to date facilities replacing out of date ones. i.e. it would cost around ?65M to replace Ibrox, from scratch, with a modern equivalent 50,000 capacity stadium, with up to date facilities, e.g hospitality, electronic screens, disabled access etc. Edited April 10, 2014 by Footballfirst Link to comment Share on other sites More sharing options...
tartofmidlothian Posted April 10, 2014 Share Posted April 10, 2014 The accountants tend to use a method called "Depreciated Replacement Cost" when valuing stadia. I believe that it equates to the cost of replacing an existing stadium with its modern equivalent, together with up to date facilities replacing out of date ones. i.e. it would cost around ?65M to replace Ibrox, from scratch, with a modern equivalent 50,000 capacity stadium, with up to date facilities, e.g hospitality, electronic screens, disabled access etc. So on our accounts, Tynecastle could be worth the cost of rebuilding a new stadium from scratch? Link to comment Share on other sites More sharing options...
Ibrahim Tall Posted April 10, 2014 Share Posted April 10, 2014 The accountants tend to use a method called "Depreciated Replacement Cost" when valuing stadia. I believe that it equates to the cost of replacing an existing stadium with its modern equivalent, together with up to date facilities replacing out of date ones. i.e. it would cost around ?65M to replace Ibrox, from scratch, with a modern equivalent 50,000 capacity stadium, with up to date facilities, e.g hospitality, electronic screens, disabled access etc. ?65m is a bit overly optimistic. How much did the Emirates cost, ?390m? Link to comment Share on other sites More sharing options...
Footballfirst Posted April 10, 2014 Share Posted April 10, 2014 So on our accounts, Tynecastle could be worth the cost of rebuilding a new stadium from scratch? The value of Tynecastle, (using DRC) in our last published accounts (2012) was ?13.75M. Link to comment Share on other sites More sharing options...
ERJEAN51 Posted April 10, 2014 Share Posted April 10, 2014 Do they actually own Murray Park or do they lease it? Link to comment Share on other sites More sharing options...
Footballfirst Posted April 10, 2014 Share Posted April 10, 2014 Do they actually own Murray Park or do they lease it? They own it (although challenged by Whyte/Earley, which I don't think will come to anything) Link to comment Share on other sites More sharing options...
...a bit disco Posted April 10, 2014 Share Posted April 10, 2014 Correct. Whyte wants a pay off not a court case imo. On another theme, cammy bell is out of sats game. Does he think the anticipated rogering from United will look bad on his cv or something? Link to comment Share on other sites More sharing options...
Gigolo-Aunt Posted April 10, 2014 Share Posted April 10, 2014 Does he think the anticipated rogering from United will look bad on his cv or something? Simonsen is an able enough replacement - would be more worried about some of the back four in front of him. Link to comment Share on other sites More sharing options...
Australis Posted April 10, 2014 Share Posted April 10, 2014 I cant count but is this big news? The report also shows that the ratio of wages to turnover during the period was 99 per cent. http://www.dailyrecord.co.uk/sport/football/football-news/rangers-release-full-year-report-reveals-3397513 Link to comment Share on other sites More sharing options...
...a bit disco Posted April 10, 2014 Share Posted April 10, 2014 Simonsen is an able enough replacement - would be more worried about some of the back four in front of him. Indeed. I know a couple of Gers fans who rate him better than Bell. Link to comment Share on other sites More sharing options...
...a bit disco Posted April 10, 2014 Share Posted April 10, 2014 I'm hopeful of more scenes like this on sat, with or without him. Wait 'til next year. Potential Hearts Rangers final. Link to comment Share on other sites More sharing options...
tartofmidlothian Posted April 10, 2014 Share Posted April 10, 2014 The value of Tynecastle, (using DRC) in our last published accounts (2012) was ?13.75M. Well that's an overestimate for a start. What I mean is, can you just bump up the value of a theoretical future replacement stadium bill as much as you want then claim it as an asset? Bit sneaky. Not that I'm suggesting Rangers have done this. Link to comment Share on other sites More sharing options...
...a bit disco Posted April 10, 2014 Share Posted April 10, 2014 Sevco might not be around next year. Hearts Hibs then? Link to comment Share on other sites More sharing options...
Chrambo Posted April 10, 2014 Share Posted April 10, 2014 Sevco might not be around next year. Hearts V The The Rangers (Sevco2) Link to comment Share on other sites More sharing options...
JWL Posted April 10, 2014 Share Posted April 10, 2014 I reckon Sally will lose it big time tomorrow, if, as we all hope, Utd are giving TRFC a proper pummelling. Utd 2-0 up, a dodgy decision against TRFC and Sally goes mental. Link to comment Share on other sites More sharing options...
adayinmay Posted April 10, 2014 Share Posted April 10, 2014 Accounts are in!! 13 months to 30 June 2013 (Turnover - ?17 696 000) 13 months to 30 June 2013 (Operating expenditure - ?35 304 000) Ipox and Murray Park combined value of ?79.2 million!!! This is brilliant if i understand it correctly :- Loss for the period ?18.127.000 Gains of property re-valuation ?33.988.000 Total recognised gains and losses ?15.861.000 Are they claiming a gain of ?15m? Are these accounts signed off and audited? Link to comment Share on other sites More sharing options...
Chrambo Posted April 10, 2014 Share Posted April 10, 2014 Link to comment Share on other sites More sharing options...
niblick1874 Posted April 10, 2014 Share Posted April 10, 2014 Black, come home. Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted April 11, 2014 Share Posted April 11, 2014 http://m.scotsman.com/sport/football/spfl-lower-divisions/mccoist-laments-cup-defeat-as-rangers-reveal-loss-1-3372765?utm_medium=twitter&utm_source=twitterfeed Those pesky losses & that big debt hanging over them not to mention spending 99% of your income on wages.. Spin it how you will, but it's shocking mismanagement of cash flow in anyone's books.. Playing staff salaries are at ?7m about 50% of turnover, ?10m goes on non playing staff, I bet only ?2.5m is to actual staff, the remaining monies goes to management ?1.5m and spivs every last penny, so a very select few spivs take about 40% of income there or there abouts. Rangers fans should be hoping our new model once its off the ground works and follow the same principle, with the added exception that expectations have to be realistic.....that is where the real challenge lies. Link to comment Share on other sites More sharing options...
Paolo Posted April 11, 2014 Share Posted April 11, 2014 (edited) Listened to radio Clyde last night. Andy Cameron being paid ?1500 pw to entertain pre match & the kit man earns more per annum than 6 spfl managers do !!!. Now that's crazy by any ones standard. 22 million ipo money frittered away on the journey. Austerity sevco style. I woulnd't even pay him a tenner a week. Edited April 11, 2014 by Simon Says Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted April 11, 2014 Share Posted April 11, 2014 Listened to radio Clyde last night. Playing staff wages are 7.8 million.. Andy Cameron being paid ?1500 pw to entertain pre match & the kit man earns more per annum than 6 spfl managers do !!!. Now that's crazy by any ones standard. 22 million ipo money frittered away on the journey. Austerity sevco style. That's the thing even Bears don't get, there is ?10m salary going out on Non playing staff, that's 400 people on ?25k per year on average???? Link to comment Share on other sites More sharing options...
Footballfirst Posted April 11, 2014 Share Posted April 11, 2014 For their debut season in Division 3, they claimed 38,000 ST sales had raised ?8M. For this season they kept prices on hold and claimed 36,000 ST sales. That would raise around ?7.6M. For next season they have increased prices by 15%-25% (average 18%). If they somehow retain the 36,000 STs, then that should raise around ?8.9M. The ?1.5M in loans that they took out to see them through this season are due to be repaid in July and September. That would leave them with ?7.4M, i.e. less revenue than they have had in either of the last two seasons. The cash burn rate from the last interim accounts was ?1.2M per month and there have been no significant changes since the period end date of 31/12/13.. The bottom line is that they haven't a hope in hell of lasting another six months without a massive cash injection, mass redundancies, extraordinary transfer revenue, loans repaid by non-cash means, or a combination of these activities. Until they face up to the fundamental issue that for every fiver they earn, they will spend a tenner, then this will be a recurring theme. Graham Wallace's 120 day review is up within the next week. Unless it addresses the points in the paragraph above they will go bust. Link to comment Share on other sites More sharing options...
doctor jambo Posted April 11, 2014 Share Posted April 11, 2014 The top director took just under a million Pay offs off just shy of 7 figures Manager just shy of a million Absolute insanity Link to comment Share on other sites More sharing options...
Allowayjambo1874 Posted April 11, 2014 Share Posted April 11, 2014 (edited) It's HMRC's fault, it's other clubs fault, it's Glasgow City Council's fault, it's SFA's fault, it's SPL's fault, it's politicians fault, it was Lloyds bank. It's the KAFFLIKS I tell ya!! Edited April 11, 2014 by Allowayjambo1874 Link to comment Share on other sites More sharing options...
The Gasman Posted April 11, 2014 Share Posted April 11, 2014 That's the thing even Bears don't get, there is ?10m salary going out on Non playing staff, that's 400 people on ?25k per year on average???? When Rangers (OldCo) went into administration, it was highlighted that they employed more PR staff than they did football coaches. I'm guessing that's not changed. Link to comment Share on other sites More sharing options...
Rods Posted April 11, 2014 Share Posted April 11, 2014 When Rangers (OldCo) went into administration, it was highlighted that they employed more PR staff than they did football coaches. I'm guessing that's not changed. Easy job in the world that would be WATP, FTP and up the walls would need to be said on several occasions boom your jobs done. Link to comment Share on other sites More sharing options...
The Gasman Posted April 11, 2014 Share Posted April 11, 2014 Easy job in the world that would be WATP, FTP and up the walls would need to be said on several occasions boom your jobs done. Hardly..! For example; Someone will also be responsible for making sure the lamb is succulent..! Link to comment Share on other sites More sharing options...
davieholt Posted April 11, 2014 Share Posted April 11, 2014 Hardly..! For example; Someone will also be responsible for making sure the lamb is succulent..! The lamb succulisor. Love it Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted April 11, 2014 Share Posted April 11, 2014 (edited) The lamb succulisor. Love it Classified Adds: Wanted Succulisor, Circa ?1.5m per annum. Are you one of Ra Peepil, Can you cook lamb to perfection if so Then an opportunity has arisen in a branded Glasgow institution. Must be zipped up the back, metacarpal phalangeal joints scraping against the pavement is advantageous. Apply within but you must supply your own brown brogues and blue cardigan. Edited April 11, 2014 by Hagar the Horrible Link to comment Share on other sites More sharing options...
i wish jj was my dad Posted April 11, 2014 Share Posted April 11, 2014 When Rangers (OldCo) went into administration, it was highlighted that they employed more PR staff than they did football coaches. I'm guessing that's not changed. Probably worth the money though. What other third tier club in the world gets so much positive spin? I wouldn't be surprised if one or two on here are on the payroll. Link to comment Share on other sites More sharing options...
Rick Grimes Posted April 11, 2014 Share Posted April 11, 2014 He continued: "It is common cause that the club is not a going concern without access to the season ticket loan from the fans. No shit, Sherlock. There's not many football clubs who aren't in that boat. As for calling it a loan.... You've got to wonder how many fans will see through his bluster and realise that he's basically trying to force the club into administration/liquidation again. How many will see that as acceptable to have another sugar daddy? Link to comment Share on other sites More sharing options...
Footballfirst Posted April 11, 2014 Share Posted April 11, 2014 http://m.stv.tv/spor...120-day-review/ The lying king spits the dummy out & calls for a S. Ticket boycott. Things are going to get very very interesting again down govan way. Hold back S.t monies & risk forcing administration through insolvency . Magic... Better get some popcorn in. This could get very messy. (particularly if they lose tomorrow) Link to comment Share on other sites More sharing options...
Bauld Posted April 11, 2014 Share Posted April 11, 2014 (edited) I haven't followed this thread much at all so I could be talking **** or just saying what has been said over and over. If Rangers keep going the way they are going then they are doomed. Even the current board have said that without fresh investment they are not going to last. King is the only one left who can save them but the question remains. In what way does he intend to save them? Does it matter if he forces them to go bust again and buys them for nothing? They have been liquidated and reborn already so twice means nothing to a businessman like him. I can't see him just ploughing 20 million in. He is going to want ownership and I doubt he is willing to fork out the extra to buy into the club letting the current board leave with bagfulls of cash. Edited April 11, 2014 by Bauld Link to comment Share on other sites More sharing options...
tartofmidlothian Posted April 11, 2014 Share Posted April 11, 2014 Better get some popcorn in. This could get very messy. (particularly when they lose tomorrow) FTFY. Link to comment Share on other sites More sharing options...
Zico Posted April 11, 2014 Share Posted April 11, 2014 Better get some popcorn in. This could get very messy. (particularly if they lose tomorrow) As long as that mess drags on to the close season! Link to comment Share on other sites More sharing options...
Chrambo Posted April 11, 2014 Share Posted April 11, 2014 Part of me hope they don't lose tomorrow...keep McCoist in for next season! Link to comment Share on other sites More sharing options...
Footballfirst Posted April 11, 2014 Share Posted April 11, 2014 (edited) Didn't take Rangers long to respond. http://www.rangers.c...-club-statement "The Board of Rangers Football Club notes with astonishment the statement issued this afternoon by Dave King. In his statement Mr King makes a number of untrue allegations against the Chairman and the Board of Rangers Football Club alleging bad faith and false representation. The Chairman and the Board refute all such allegations in the strongest terms and have referred Mr King?s statement to the Club?s legal advisors. Mr King clearly has elected to ignore the Board?s previous public statement following the Board?s meeting with him. In this statement, which was reviewed with him prior to issue, the Board stated that it will issue the results of the business review prior to the season ticket renewal window ending. This position remains unchanged and Mr King is well aware of this having sought personal confirmation on this matter from the Chairman as recently as yesterday. The business review period has not yet even ended, as Mr King is well aware, however he has elected to make yet another public statement to serve his own purposes. When the Board met Mr King a few weeks ago, he made it clear that he did not want to put another penny into the Club and would prefer to see the Club using other investors' money. The Board was therefore surprised, but gave him the benefit of the doubt when, a few days later, Mr King made media comments about a willingness to invest his money into the Club. This is an easy statement to make to the media but is contrary to what he told the whole Board. It is extremely disappointing that Mr King should consider it appropriate to issue this latest statement, clearly designed to unsettle and mislead Rangers fans, on the eve of an important Scottish Cup semi-final match. For someone who claims to have the interests of Rangers at heart and as an ex-director, King's untrue comments are nothing short of disgraceful." Edited April 11, 2014 by Footballfirst Link to comment Share on other sites More sharing options...
hughesie27 Posted April 11, 2014 Share Posted April 11, 2014 2 way race to the title between us and Hibs next season then. Link to comment Share on other sites More sharing options...
kingdannyb Posted April 11, 2014 Share Posted April 11, 2014 The King statement is so stupid as to make him utterly irrelevant. The Sevco statement is perfectly reasonable. End of discussion. Link to comment Share on other sites More sharing options...
hueyview Posted April 11, 2014 Share Posted April 11, 2014 Classified Adds: Wanted Succulisor, Circa ?1.5m per annum. Are you one of Ra Peepil, Can you cook lamb to perfection if so Then an opportunity has arisen in a branded Glasgow institution. Must be zipped up the back, metacarpal phalangeal joints scraping against the pavement is advantageous. Apply within but you must supply your own brown brogues and blue cardigan. Excellent funny post...HaHa Link to comment Share on other sites More sharing options...
Guest Posted April 11, 2014 Share Posted April 11, 2014 King must be a celtic fan coming out with stuff like that. Rightly or wrong Rangers are struggling and need ST money. His big idea is for folk not to buy season tickets. Bizarre Link to comment Share on other sites More sharing options...
Deevers Posted April 11, 2014 Share Posted April 11, 2014 I think that this latest spat almost ensures that their season ticket sales will not go well. What next I wonder. Link to comment Share on other sites More sharing options...
Cardiac Rucksack Posted April 11, 2014 Share Posted April 11, 2014 King wants rangers on the cheap. Delay the season ticket money and the club will die. He will ride in and get it for a song. Link to comment Share on other sites More sharing options...
hueyview Posted April 11, 2014 Share Posted April 11, 2014 Rangers are clearly in meltdown I hope United do well tomorrow, maybe 3-1. Their young lads, like the Hearts boys have grown this season, with their advantage of having more seasoned players to play with. It must be hell to be a Ger just now............. Link to comment Share on other sites More sharing options...
Bauld Posted April 11, 2014 Share Posted April 11, 2014 I need a Dundee Utd win tomorrow. Part of my coupon that pays out 10k if results go my way tomorrow That and while I didn't care what happened at Rangers in the past I now just want to see them getting humped weekly. Link to comment Share on other sites More sharing options...
Chrambo Posted April 11, 2014 Share Posted April 11, 2014 King wants rangers on the cheap. Delay the season ticket money and the club will die. He will ride in and get it for a song. A very dangerous game to play. If it all falls through... Link to comment Share on other sites More sharing options...
colinmaroon Posted April 11, 2014 Share Posted April 11, 2014 The King statement is so stupid as to make him utterly irrelevant. The Sevco statement is perfectly reasonable. End of discussion. IMO King wants Rangers in Administration this season. Points deduction won't effect their promotion. He rides in a picks them up for a knock-down price - or whatever - as sole owner. If he gets them out before the start of next season, no points deduction and debt gone - got rid of Fat Sally and his huge wages and many of the players without having to pay off contracts etc. Link to comment Share on other sites More sharing options...
Bauld Posted April 11, 2014 Share Posted April 11, 2014 IMO King wants Rangers in Administration this season. Points deduction won't effect their promotion. He rides in a picks them up for a knock-down price - or whatever - as sole owner. If he gets them out before the start of next season, no points deduction and debt gone - got rid of Fat Sally and his huge wages and many of the players without having to pay off contracts etc. This sounds spot on to me. Link to comment Share on other sites More sharing options...
hueyview Posted April 11, 2014 Share Posted April 11, 2014 You can usually get a general feeling of what state your club is in by the clubs social media. The folk on FF are so worried, i can't help but feel sorry for the real supporters. Even five year ago i wouldn't have belieived of the underhand dealings by the scumbags Link to comment Share on other sites More sharing options...
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