The Rangers soap opera goes on and on.

[Boris]

According to the Telegraph, Ranger and Newcastle cannot both play in Europe, even if they play in different competitions, If Sevco get priority over the Toon, you can see the seethe

 

http://www.telegraph.co.uk/sport/football/teams/newcastle-united/11257795/Newcastle-and-Rangers-will-not-be-able-to-play-in-Europe-together-next-season-because-of-Mike-Ashley.html

[jambovambo]

http://www.philmacgiollabhain.ie/a-duty-of-oversight/

[brunoatemyhamster]

http://www.telegraph.co.uk/sport/football/teams/newcastle-united/11257795/Newcastle-and-Rangers-will-not-be-able-to-play-in-Europe-together-next-season-because-of-Mike-Ashley.html

 Still going on about the exposure it would bring SportDirect.com in Europe. Facepalm.

 

 

Don't see it myself. Newcastle must get as much exposure in Europe playing in The Premiership every week  compared to maybe 6 games every 2 years maybe, with The The Rangers in the CL surely.

 

Can't see him being in it for the good of Rangers when  he could lose so much at Newcastle.

 

Too many " IF "s for a man like Ashley.

Edited November 27, 2014 by brunoatemyhamster

[Jambo-Jimbo]

What is the most interesting part of the article in the Telegraph is that UEFA are basically saying that Ashley has enough power and thus influence over Rangers so as to fall foul of their rules.

 

SFA, over to you now.........................

[Rods]

I take it none of this will affect MKII Rangers apart from maybe the ownership of assets ie Ibrox and MP?

[The Internet]

This must have smiley potential, taken from the BBC story.

 

[Eldar Hadzimehmedovic]

Agreed mate. It's all very Hibs tbh.

 

And so on.

Spot on mate. Rangers fans I know are just decent guys who love their fitba mate. They don't deserve this.

[tartofmidlothian]

Spot on mate. Rangers fans I know are just decent guys who love their fitba mate. They don't deserve this.

 

You seen Barry lately mate?

[tartofmidlothian]

This must have smiley potential, taken from the BBC story.

 

 

 

I prefer this one...

 

 

Shooter's reaction to being caught...

 

 

CAUGHT.

[colinmaroon]

 Still going on about the exposure it would bring SportDirect.com in Europe. Facepalm.

 

 

Don't see it myself. Newcastle must get as much exposure in Europe playing in The Premiership every week  compared to maybe 6 games every 2 years maybe, with The The Rangers in the CL surely.

 

Can't see him being in it for the good of Rangers when  he could lose so much at Newcastle.

 

Too many " IF "s for a man like Ashley.

 

 

 

I like this from the comments section of that article:

 

Tijuana ? 2 hours ago

Newcastle fans have nothing to worry about any time soon.

The dead club tribute act from Glasgow are already 9 points adrift in the Scottish Championship after Hearts pumped them in Edinburgh last Saturday.

* chortle *

[brunoatemyhamster]

 

I like this from the comments section of that article:

 

Tijuana ? 2 hours ago

Newcastle fans have nothing to worry about any time soon.

The dead club tribute act from Glasgow are already 9 points adrift in the Scottish Championship after Hearts pumped them in Edinburgh last Saturday.

* chortle *

 

The User name is quite scary.  

[DETTY29]

The Eagle has Landed.

 

Detained at Heathrow.

[brunoatemyhamster]

Has hes been up to no good in Mexico ? . Was it when he landed ? I just can't see PC Gomez and PC Hernandez clocking him for Craig Whyte on the passing. Has he been getting hunted down ? 

[Don Dan]

The Eagle has Landed.

Detained at Heathrow.

I wonder if Shooter will get bail?

[steve444]

[Don Dan]

hola mr whyte chupa mi polla es el mejor que usted puede hacer para ser salvo aqu? .

[2NaFish]

 

"Taxes? We don't pay no stinkin' taxes!!"

[Guest Bilel Mohsni]

Burritos

[jambovambo]

http://www.philmacgiollabhain.ie/a-problem-shared/

[Jambo66]

If ashley turns off the tap, there's only 1 outcome & that's the doomsday one.

 

And we all know what happened to the last team that had "Third" in their name.

[Hagar the Horrible]

Shooter is expected to appear in Glasgow sherriff court tomorrow afternoon, then due to the other arrest warrant will be detained for 28 days

[brunoatemyhamster]

 

Is it a sign ?..

Will they accept 10p in the pound for a The Rangers shirt ? 

[Charlie-Brown]

If Ashley is to provide further funding then he's either considering an insolvency event to get assets / costs / contracts sorted out or annuled or else he also requires the SFA to clarify / cave in their position re Ashley stabilising TRFC to get them back to winning ways asap.

 

Either that or they are goosed unless King or Kennedy pony up the emergency funds.

[The Mighty Thor]

If Ashley is to provide further funding then he's either considering an insolvency event to get assets / costs / contracts sorted out or annuled or else he also requires the SFA to clarify / cave in their position re Ashley stabilising TRFC to get them back to winning ways asap.

 

Either that or they are goosed unless King or Kennedy pony up the emergency funds.

There's not a fecking chance of the lying king ponying up anything. He's potless.

 

If there's even any shred of truth in phil the haver's latest blog then we're in for a great festive period.

[Charlie-Brown]

Regan has already nailed his colours to the mast with the overriding objective being a successful Sevco, everything else will be put aside or completely disregarded to further the main aim.

[Charlie-Brown]

Either Ashley will be permitted to increase his investment assuming he wants to or else they will hoor themselves to any possible funding option regardless if they are glib & shameless liars, not fit & proper etc just the same as they did with Whyte then Green then Easedales etc.

[dc-jambo]

Reporting Scotland just reported the time of the flight Mr Whyte is arriving into Glasgow on this evening.

 

Scenes ...

[jambovambo]

Handcuffs probably ?

[Feeno]

Hope there's nae would be Jack Rubys through the weeij

[Footballfirst]

Chris McLaughlin ?@BBCchrismclaug 9m9 minutes ago

#Rangers announce operating losses of ?8.3m. Down from ?14.4m in 2013.

 

 

RNS Number : 2477Y

Rangers Int. Football Club PLC

27 November 2014

 

?

27 November 2014

 

 

Rangers International Football Club plc

("Rangers", or the "Company")

 

Preliminary Results

 

 

Rangers International Football Club plc (AIM:RFC), the holding company for the 'Rangers Football Club Limited ("Club")', today announces Preliminary Results for the twelve month period to 30 June 2014.

 

Financial Highlights

 

?      Group Revenue increased by 32% to ?25.2m (2013: ?19.1m)

?      Retail revenue increased by 375% to ?7.6m (2013: ?1.6m)

?      Sponsorship and advertising revenues rose to ?1.5m (2013: ?0.8; +79%)

?      42% reduction in operating losses to ?8.3m (2013: ?14.4m)

?      Other Operating Income rose from ?1.7m to ?2.1m (+22%)

?      Successful Open Offer raising ?3.13m (gross) provided valuable additional working capital

?      Significantly reduced cost base across the Group

 

 

Operational Highlights

 

?      SPFL League One Champions 2013/14

?      Unbeaten in the league campaign

?      Scottish Cup Semi Finalists

?      SFA Youth Cup Winners

?      Currently in strong contention for promotion to the Scottish Premiership and progressing to final stages of three domestic Cup competitions

 

Summary

 

?      Improved trading performance

?      Reduced cost base

?      New, beneficial commercial partnerships established

?      Legacy issues substantively addressed

?      Playing squad augmented, cost-effectively

?      Strategic Plan for benefit of Club and Company being implemented

?      Significant steps taken towards reconnecting with the fan base

 

 

David Somers, Chairman of Rangers, commented "Following a successful 2013/14 season on the pitch in which the Club comfortably achieved its priority target of a second successive, and unbeaten, league promotion, I am pleased to report that much progress has also been made at an operational level within the Group. This includes increased revenues and incomes across the business and a significantly reducing cost base. However challenges still remain and despite additional financing having been secured over the year, further funding is necessary to ensure the Club's ability to move forward successfully to achieve the goals we all seek and expect of Rangers Football Club.

 

"To this end the Board will be seeking shareholder approval at the forthcoming AGM to issue additional shares to ensure maximum flexibility for the Company to raise equity finance and provide the financial capability required to develop the Club in the longer term.

 

 

"Despite the undoubted challenges that still remain ahead of us, I am pleased to report that we are making good progress in repositioning the Club and business and have laid solid and stable foundations for the future. Everybody associated with Rangers is working tirelessly in order to build a successful long-term future that everybody who loves this Club can be proud of."

 

Edited November 27, 2014 by Footballfirst

[Cade]

[DETTY29]

27 November 2014

 

 

Rangers International Football Club plc

("Rangers", or the "Company")

 

Preliminary Results

 

 

Rangers International Football Club plc (AIM:RFC), the holding company for the 'Rangers Football Club Limited ("Club")', today announces Preliminary Results for the twelve month period to 30 June 2014.

 

Financial Highlights

 

?      Group Revenue increased by 32% to ?25.2m (2013: ?19.1m)

?      Retail revenue increased by 375% to ?7.6m (2013: ?1.6m)

?      Sponsorship and advertising revenues rose to ?1.5m (2013: ?0.8; +79%)

?      42% reduction in operating losses to ?8.3m (2013: ?14.4m)

?      Other Operating Income rose from ?1.7m to ?2.1m (+22%)

?      Successful Open Offer raising ?3.13m (gross) provided valuable additional working capital

?      Significantly reduced cost base across the Group

 

 

Operational Highlights

 

?      SPFL League One Champions 2013/14

?      Unbeaten in the league campaign

?      Scottish Cup Semi Finalists

?      SFA Youth Cup Winners

?      Currently in strong contention for promotion to the Scottish Premiership and progressing to final stages of three domestic Cup competitions

 

Summary

 

?      Improved trading performance

?      Reduced cost base

?      New, beneficial commercial partnerships established

?      Legacy issues substantively addressed

?      Playing squad augmented, cost-effectively

?      Strategic Plan for benefit of Club and Company being implemented

?      Significant steps taken towards reconnecting with the fan base

 

 

David Somers, Chairman of Rangers, commented "Following a successful 2013/14 season on the pitch in which the Club comfortably achieved its priority target of a second successive, and unbeaten, league promotion, I am pleased to report that much progress has also been made at an operational level within the Group. This includes increased revenues and incomes across the business and a significantly reducing cost base. However challenges still remain and despite additional financing having been secured over the year, further funding is necessary to ensure the Club's ability to move forward successfully to achieve the goals we all seek and expect of Rangers Football Club.

 

"To this end the Board will be seeking shareholder approval at the forthcoming AGM to issue additional shares to ensure maximum flexibility for the Company to raise equity finance and provide the financial capability required to develop the Club in the longer term.

 

 

"Despite the undoubted challenges that still remain ahead of us, I am pleased to report that we are making good progress in repositioning the Club and business and have laid solid and stable foundations for the future. Everybody associated with Rangers is working tirelessly in order to build a successful long-term future that everybody who loves this Club can be proud of."

[Harry Palmer]

 

Chris McLaughlin ?@BBCchrismclaug 9m9 minutes ago

#Rangers announce operating losses of ?8.3m. Down from ?14.4m in 2013.

 

 

Scotzine ?@scotzine  7m7 minutes ago

Staff costs end June 2014 - ?14,709,000

Rangers claim they sold 36,039 season tickets bringing in ?7,726,000. Down from prev year. ST sales 38,228 = ?8,056,000 brought in.

Rangers players increased to 53 this year [50- 2013] but other staff dropped from 146 to 122.

Stockbridge paid ?217,675; Craig Mather ?84,980; Graham Wallace ?377,827; David Somers ?50k. Inc bonuses/pensions etc

[Harry Palmer]

Grant Russell ?@STVGrant  30s30 seconds ago

Deloitte, auditors, in Rangers' accounts: "The Group requires additional funding to continue to meet its liabilities as they fall due." 

 

Grant Russell ?@STVGrant  1m1 minute ago

Rangers: "the Group will require up to ?8 million by way of debt or equity finance within the next 12 months"

 

Grant Russell ?@STVGrant  51s52 seconds ago

Rangers need first tranche of ?8m in January "to meet day to day working capital requirements."

Rangers accounts say they "have been approached by several parties wanting to offer funds on a secured basis."

Rangers say they had a ?1.9m reduction in salary costs including drop "following manager's decision to take a salary cut."

Edited November 27, 2014 by Arnold

[Jamboelite]

So losing ?8.3m about ?700k a month ?????? Is this meant to be good news ?

Edited November 27, 2014 by Jamboelite

[Teuchterjambo]

Reporting Scotland just reported the time of the flight Mr Whyte is arriving into Glasgow on this evening.

 

Scenes ...

 

Indeed and also on the programme was footage of the numbskulls cheering and welcoming the same man to Ibrox when he took over ... absolute tossers, I hope they are all proud of themselves when they look at it now and see themsleves for the gullible numpties that they really are ... especially the absolute twonk who is pushing forward to get a close up photo of the Messiah.

 

I have some sympathy for some of their more sensible and genuine supporters who have seen their club ravaged by personal greed and deception, however, that lot on the TV tonight and their likes I take nothing but pleasure from their pain and humiliation.

[Don Dan]

? Retail revenue increased by 375% to ?7.6m (2013: ?1.6m)

This why Ashely is involved. What's the profit on ?7.6m it's enough to bring Ashely to ?brox.

[Another Robbo]

Interesting to see if Shooter gets bail and if so on what conditions. It appears he has returned to the UK "voluntarily" without any formal extradition from Mexico - so this would work in his favour as he could argue he isn't a flight risk. He may however have to surrender his passport as a condition of bail so he will be stuck in the UK. Given his unpopularity in certain quarters life could become uncomfortable for him if that is the case.

 

If he isn't bailed then the clock really starts ticking - his trial has to start within 110 days - so early March. If not it'll be 12 months with the rest of them.

 

I expect the trial won't be a short one...off the radar Advocate's bills incoming...

[DETTY29]

Interesting to see if Shooter gets bail and if so on what conditions. It appears he has returned to the UK "voluntarily" without any formal extradition from Mexico - so this would work in his favour as he could argue he isn't a flight risk. He may however have to surrender his passport as a condition of bail so he will be stuck in the UK. Given his unpopularity in certain quarters life could become uncomfortable for him if that is the case.

 

If he isn't bailed then the clock really starts ticking - his trial has to start within 110 days - so early March. If not it'll be 12 months with the rest of them.

 

I expect the trial won't be a short one...off the radar Advocate's bills incoming...

I'm sure on Sportsound, Chris McLaughlin said he was arrested trying to enter in to Mexico, and then sent on a flight to the UK.

[Footballfirst]

The full text can be found if you scroll down past the initial "highlights" of the RNS announcement

 

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RFC&ArticleCode=rdhka4v4&ArticleHeadline=Final_Results

[wibble]

If ashley turns off the tap, there's only 1 outcome & that's the doomsday one.

 

 

He's just putting the frighteners on them so he gets Ibrox on the cheap with a final hour loan of a couple of million.

The boy Ashley is not daft.

 

Liquidated in March with Ashley having hived off all the assets.

[Don Dan]

Charles Green ?715,526 amazing scenes that he was paid that.

[Craig_]

? Retail revenue increased by 375% to ?7.6m (2013: ?1.6m)

This why Ashely is involved. What's the profit on ?7.6m it's enough to bring Ashely to ?brox.

 

I'm assuming this is some sort of accountancy fudge to bleed more money out of the club?

 

Up by 375% FFS!

[DETTY29]

Gut feel is that ?8m seems a hell of a light, considering Mike Ashley is due ?3m in April.  And that it to see them through the next 12 months.

 

The prospectus to raise the funding Somers talks of will be interesting.  Is it still ?20m - ?30m that Wallace was looking for?  And considering the Emphasis of Matter notes in the accounts by Deloittes, would you be happy if your pension fund manager was investing your pension pot in them?

 

So where does that leave us?

 

3 options

 

 A -Ashley

 B -King

 C -Another group of Rangers minded people.

 

Well all the C people are in the B camp.  And the A and B camps need SFA rules to be broken to allow them in, although there is always the board discretion get out.

 

Now Uefa are getting twitchy, the SFA really should be saying to Ashley, 'no more' until you sell NUFC.

 

That leaves King - if he has the money - and really wants to take on the busted income/cost model rather than wait for a significant insolvency event. 

 

____________________________________________________________________________

 

EMPHASIS OF MATTER ? GOING CONCERN

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures in note 1 to the financial statements concerning the Group?s ability to continue as a going concern. The Group requires additional funding to continue to meet its liabilities as they fall due. The Group has made key assumptions in relation to its ability to secure further funding in addition to the timing and value of season ticket income, increases in matchday income and sponsorship, the timing and value of dividends and further cost reductions.
These conditions around the need to secure further funding, along with the details provided in note 1 of the financial statements, indicate the existence of a material uncertainty which may cast significant doubt over the Group?s ability to continue as a going concern and therefore that the Group may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern.

 

EMPHASIS OF MATTER ? UNCERTAIN OUTCOME OF POTENTIAL LITIGATION

In forming our opinion on the consolidated financial statements, which is not modified, we have considered the adequacy of the disclosures made in note 30 to the financial statements concerning the uncertain outcome of the potential litigation following the receipt of two letters before claim from legal advisers to Craig Whyte and Aidan Earley. The Company commissioned an independent investigation (?the Investigation?) to investigate the first

Edited November 27, 2014 by DETTY29

[marshallschunkychicken]

When was the last share issue? They're showing ?3.13m raised in the recent open offer, but these accounts are supposed to be up to the end of June....

[Jamboelite]

I'm assuming this is some sort of accountancy fudge to bleed more money out of the club?

 

Up by 375% FFS!

Kind of

 

t. This resulted in a 375% increase in retail revenue from ?1.6m to ?7.6m. It should be noted that the previous financial year's total is from a considerably shorter period in which our new retail business was trading and therefore is not a like-for-like comparison.

 

Other Operating Charges were up from ?13.3m to ?16.4m due mainly to the increased costs of sales in the retail business that is to be expected with the improved performance in our retail operation.

 

Interesting so ?3.1m costs due to sales in retail against an increase in revenue from ?1.6m - ?7.6m does this seems right ?

Edited November 27, 2014 by Jamboelite

[Don Dan]

 

EMPHASIS OF MATTER ? GOING CONCERN

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures in note 1 to the financial statements concerning the Group?s ability to continue as a going concern. The Group requires additional funding to continue to meet its liabilities as they fall due. The Group has made key assumptions in relation to its ability to secure further funding in addition to the timing and value of season ticket income, increases in matchday income and sponsorship, the timing and value of dividends and further cost reductions.

These conditions around the need to secure further funding, along with the details provided in note 1 of the financial statements. "indicate the existence of a material uncertainty which may cast significant doubt over the Group?s ability to continue as a going concern and therefore that the Group may be unable to realise its assets and discharge its liabilities in the normal course of business." The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern.

 

EMPHASIS OF MATTER ? UNCERTAIN OUTCOME OF POTENTIAL LITIGATION

In forming our opinion on the consolidated financial statements, which is not modified, we have considered the adequacy of the disclosures made in note 30 to the financial statements concerning the uncertain outcome of the potential litigation following the receipt of two letters before claim from legal advisers to Craig Whyte and Aidan Earley. The Company commissioned an independent investigation (?the Investigation?) to investigate the first

 

 

They're Goosed[emoji33]

 

 

Sent from my iPad using Tapatalk

[Geoff Kilpatrick]

Future share issues to fill the black hole to maintain a going concern.

 

It seems all too familiar for some reason...

[jock _turd]

Are they really up shit creek or are the majority of the posters on this thread just in a state of fevered hopefulness ? The reason I ask is that not one person posting on this thread, to my knowledge, has invested one penny in the enterprise. However a man who it is said has made him self many millions of pounds through astute investments has put more than three million pounds into the enterprise. Is he just a twat or does he know more about things than anybody on here dares think? For a club that was staring down the barrel a few months back we seem to have very little thoughts for the fans of this club, yes we know they are vile, bigoted and the scum of the earth but none the less they still have feelings for their club. This club was the remains of a badly run company unfortunately for the fans the same thing has happened again pronto... it is not their fault is it?

[Glamorgan Jambo]

Just had a quick glance and two things caught my eye

 

1. The increase in turnover is almost all attributed to Rangers Retail - the joint venture controlled by Ashley. The reason RIFC can fully incorporate the turnover and profits in their accounts is that the own 51 out of the 100 shares - however the 49 shares Ashley owns count for double in all votes on financial matters - so these funds were (at 30th June and likely still) unaccessible to the club. No wonder he's got them doing whatever dance he wants them to do. I also had a quick look to see if Rangers retail had published their accounts but nothing yet.

 

2. Payments to directors - for all the flak he took Wallace has walked away with a tidy sum for just under a years work. Uo until the end of June he'd accrued payments of almost 400K, took his salary for another 4 months and got a 100K payoff. Also it seems McCoist did take his wage cut contrary to the settled view of Sellick minded bloggers.