Strachsuit Posted April 27, 2015 Share Posted April 27, 2015 Why? Because they got access to fresh capital. Now, you are correct in thinking that is getting burnt but they also have the potential now to increase their revenues on this season, irrespective of whether they are promoted. Plus cost management is much easier given the number of players out of contract. Just catching up with the thread and saw this comment Geoff. Now I understand your frustration with those on here hopeful of another insolvency event down Ibrox way, but come on - you and I both know that the bit in bold is totally irrelevant. Sevco's current wage-turnover ratio is perfectly manageable and better than most clubs IIRC. There are "other" reasons for their cash burn, some we know, some we don't. But to suggest that getting rid of some high earners will really help them just isn't true. They are burning cash at an alarming rate just now. Without getting around some of these onerous contracts (as I say, some we know about like Big Mike's but some we don't) they will never be able to reduce their outgoings to a manageable level. Admin is certainly not imminent but neither is their ability to break even - not by a long shot. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted April 27, 2015 Share Posted April 27, 2015 Just catching up with the thread and saw this comment Geoff. Now I understand your frustration with those on here hopeful of another insolvency event down Ibrox way, but come on - you and I both know that the bit in bold is totally irrelevant. Sevco's current wage-turnover ratio is perfectly manageable and better than most clubs IIRC. There are "other" reasons for their cash burn, some we know, some we don't. But to suggest that getting rid of some high earners will really help them just isn't true. They are burning cash at an alarming rate just now. Without getting around some of these onerous contracts (as I say, some we know about like Big Mike's but some we don't) they will never be able to reduce their outgoings to a manageable level. Admin is certainly not imminent but neither is their ability to break even - not by a long shot. This is one of those myths put about to show how onerous these contracts are. Their wages to turnover ratio in general is a problem although that isn't surprising when the kit man is paying higher rate tax! Link to comment Share on other sites More sharing options...
Strachsuit Posted April 27, 2015 Share Posted April 27, 2015 This is one of those myths put about to show how onerous these contracts are. Their wages to turnover ratio in general is a problem although that isn't surprising when the kit man is paying higher rate tax! Staff costs ?7.1m, turnover ?13.1m. That's 54.2% wages to turnover, FIFA recommends up to 60% so they don't have a problem there. http://www.bbc.co.uk/sport/0/football/32139467 What they do have a problem with is that there is clearly money elsewhere disappearing into black holes. So until we know the scale of the disappearing cash then there is no way to work out just how close to the brink they really are! Link to comment Share on other sites More sharing options...
steve444 Posted April 27, 2015 Share Posted April 27, 2015 Link to comment Share on other sites More sharing options...
The Comedian Posted April 27, 2015 Share Posted April 27, 2015 That goon has a brass neck taking the piss out of anyone. Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted April 27, 2015 Share Posted April 27, 2015 Mohsni with the world's least human-looking ventriloquist dummy. Link to comment Share on other sites More sharing options...
Alva-Jambo Posted April 27, 2015 Share Posted April 27, 2015 If Sevco draw 1-1 with us Hibs can afford to lose as long as its buy less than 6-0 sevco really have to win This. And I am sure our lads will be up for this one. And we will score, could see a 2-2 day. Link to comment Share on other sites More sharing options...
OmiyaHearts Posted April 27, 2015 Share Posted April 27, 2015 Staff costs ?7.1m, turnover ?13.1m. That's 54.2% wages to turnover, FIFA recommends up to 60% so they don't have a problem there. http://www.bbc.co.uk/sport/0/football/32139467 What they do have a problem with is that there is clearly money elsewhere disappearing into black holes. So until we know the scale of the disappearing cash then there is no way to work out just how close to the brink they really are! Well they made their payment run this month OK as per usual (to my work anyway). So there still seems to be cash in the bank. Link to comment Share on other sites More sharing options...
The Gasman Posted April 27, 2015 Share Posted April 27, 2015 Well they made their payment run this month OK as per usual (to my work anyway). So there still seems to be cash in the bank. Was the ?1.5m loan not expected to be enough to get them through last month and this..? Though they're still losing tens of thousands a day, and will (I think) be once again running on fumes.... Link to comment Share on other sites More sharing options...
steve444 Posted April 27, 2015 Share Posted April 27, 2015 That goon has a brass neck taking the piss out of anyone. That Zombie sure does look like a spoon burner. Link to comment Share on other sites More sharing options...
Spitonastranger Posted April 27, 2015 Share Posted April 27, 2015 . Is that Keith Jackson Link to comment Share on other sites More sharing options...
The Gasman Posted April 27, 2015 Share Posted April 27, 2015 http://m.bbc.co.uk/sport/football/32490412 Sevco risking serious trouble if the go ahead with this. [emoji1] Hibs did it last season - with permission - so having set the precedent themselves, I think the SPFL have little choice but to allow Rangers to do the same. ....but with Rangers running at a loss anyway, I do wonder who will underwrite this..? Link to comment Share on other sites More sharing options...
EIEIO Posted April 27, 2015 Share Posted April 27, 2015 Hibs did it last season - with permission - so having set the precedent themselves, I think the SPFL have little choice but to allow Rangers to do the same. ....but with Rangers running at a loss anyway, I do wonder who will underwrite this..? Won't their play off opponent have to agree to this as well as der hun? Link to comment Share on other sites More sharing options...
Dutchmul Posted April 27, 2015 Share Posted April 27, 2015 Hibs did it last season - with permission - so having set the precedent themselves, I think the SPFL have little choice but to allow Rangers to do the same. ....but with Rangers running at a loss anyway, I do wonder who will underwrite this..? Big difference this time is that sevco will have at least 2 home games in the play offs and probably 3, hubz only had one. Sevco cannae afford to not charge their season ticket holders, they are skint. Link to comment Share on other sites More sharing options...
wavydavy Posted April 27, 2015 Share Posted April 27, 2015 Hibs did it last season - with permission - so having set the precedent themselves, I think the SPFL have little choice but to allow Rangers to do the same. ....but with Rangers running at a loss anyway, I do wonder who will underwrite this..? ?20 for a pie. Link to comment Share on other sites More sharing options...
Boof Posted April 27, 2015 Share Posted April 27, 2015 Big difference this time is that sevco will have at least 2 home games in the play offs and probably 3 Errrmmm - not necessarily... Link to comment Share on other sites More sharing options...
Guest Bilel Mohsni Posted April 27, 2015 Share Posted April 27, 2015 The Sfa/Regan covering themselves in glory as info emerges about just how easy Whyte hoodwinked them re: Fpp. [emoji1] A Jackson article... the man who had him with "off the radar wealth". The absolute gall of that paper to try and make out its wrong that the glib and shameless liar - King should face FPP test, when Whyte did not. It was down to Hun-minded arseholes and sycophants like Jackson, that no questions were asked of King in the first place. Hope that paper dies soon. Link to comment Share on other sites More sharing options...
Angus Young Posted April 28, 2015 Share Posted April 28, 2015 The Sfa/Regan covering themselves in glory as info emerges about just how easy Whyte hoodwinked them re: Fpp. [emoji1] White should never have been passed as a FPP However he did not have over 40 tax convictions like the Glib and Shameless Liar King is not a FPP And should not pass the test. Link to comment Share on other sites More sharing options...
DETTY29 Posted April 28, 2015 Share Posted April 28, 2015 (edited) One of the new directors will sail through FPP because there isn't a question on the list that asks 'Were you in charge of the department which deliberately withheld player remuneration information when registering players that you would normally be expected to do so?' That said the list of information that clubs must inform the SFA of on individuals is also noted as 'not being exhaustive.' Of course LNS found no wrong doing on an individual basis. Information was deliberately withheld by the phantom withholders. A touch like the banks after the crash, and us to an extent, they needed a fresh break from all the key individuals involved in the demise. It appears Rangers just can't be cleansed of the past. Edited April 28, 2015 by DETTY29 Link to comment Share on other sites More sharing options...
Sooperstar Posted April 28, 2015 Share Posted April 28, 2015 . Link to comment Share on other sites More sharing options...
Maroonblood22 Posted April 28, 2015 Share Posted April 28, 2015 (edited) I'm at the stage now where I actually think King doesn't want to be passed as a FPP by the SFA. That way he doesn't have to put his hands in his pockets and both him and the orcs can blame the SFA for plunging their club further into the abyss. King doesn't want to spend his own money, King also now knows (via Murray) what the state of the books are... IMO he will be looking for the quickest escape from this situation back to SA! Edited April 28, 2015 by Maroonblood22 Link to comment Share on other sites More sharing options...
Spellczech Posted April 28, 2015 Share Posted April 28, 2015 (edited) Puff pieces like this reek of a P.r exercise in order to put pressure on the Sfa to do just that tbh. Passing king would mean they'd be no hiding place or excuses for him not to invest anymore either. Surprising it's taken the Sfa this long to rubber stamp it tbh. [emoji1] yep with Jackson it is all about pushing for whatever the sevco fans want. If Sevco fans decided they want Charles green back he'd back that too...he's the worst kind of hypocritical populist journo... Edited April 28, 2015 by Spellczech Link to comment Share on other sites More sharing options...
Alva-Jambo Posted April 28, 2015 Share Posted April 28, 2015 I'm at the stage now where I actually think King doesn't want to be passed as a FPP by the SFA. That way he doesn't have to put his hands in his pockets and both him and the orcs can blame the SFA for plunging their club further into the abyss. King doesn't want to spend his own money, King also now knows (via Murray) what the state of the books are... IMO he will be looking for the quickest escape from this situation back to SA! THis. I think you are spot on here. Ironically I think he WILL be rubber stamped. ! Link to comment Share on other sites More sharing options...
Angus Young Posted April 28, 2015 Share Posted April 28, 2015 King is not fit for purpose and should Fail the FPP Test. Judge Brian Southwood, North Gauteng High Court: ?[The court is] unanimous in finding that he is a mendacious witness whose evidence should not be accepted on any issue unless it is support by documents and other objective evidence?. ?It was remarkable that King showed no sign of embarrassment or any emotion when he conceded that he had lied to the (Sars) commissioner in a number of his income tax returns. In our assessment, he is a glib and shameless liar.? Link to comment Share on other sites More sharing options...
Poseidon Posted April 28, 2015 Share Posted April 28, 2015 Fantastic. Well done Mike Link to comment Share on other sites More sharing options...
Poseidon Posted April 28, 2015 Share Posted April 28, 2015 Fantastic. Well done Mike Link to comment Share on other sites More sharing options...
Footballfirst Posted April 28, 2015 Share Posted April 28, 2015 NUFC statement - I'd bet that the TRFC deal isn't as beneficial to the club. Inaccurate media reporting by Channel 4 'Dispatches' - the media mislead again In reference to our statement last night (Monday, 27th April) regarding the Channel 4 'Dispatches' programme, The Secrets of Sports Direct, Newcastle United would like to clarify the facts for the benefit of supporters. Last night's programme made a wholly inaccurate claim regarding the retail relationship between the Club and Sports Direct. In the Club's view, the broadcaster deliberately misled Newcastle United supporters and provided yet another example of erroneous media reporting which only serves to further antagonise fans. In January 2014, in the minutes of its Fans Forum which are published online, the Club confirmed how the retail relationship with Sports Direct works. For the purpose of clarity, we can reconfirm that 100 per cent of the income from goods bought in the Club's official stores and on its website are received by the Club and not Sports Direct, as the 'Dispatches' programme claimed. The only money paid by the Club to Sports Direct is for the stock (at cost price), plus a handling fee. This represents far better value than the costs the Club historically incurred in relation to purchasing, storage and distribution. In fact, the change to our retail operating structure introduced in February 2013, which saw us partner with Sports Direct, increased the profit margin by over 50 per cent. This benefits the Club hugely. In simple terms, the Club receives more money as a result of this relationship. Channel 4 failed to contact the Club in order to clarify any facts in relation to our retail operation. Given that this information was already in the public domain, and had been for over 15 months, we find it incredible that the makers of an investigative current affairs programme chose to air information which was so obviously factually incorrect. Link to comment Share on other sites More sharing options...
Dutchmul Posted April 28, 2015 Share Posted April 28, 2015 Errrmmm - not necessarily... Yup, should have said potentially 2 or 3 games, hubz where only ever going to have 1 home game. Link to comment Share on other sites More sharing options...
Dutchmul Posted April 28, 2015 Share Posted April 28, 2015 ?3.75p from every shirt sold. [emoji23] Yeah, cause retweeting and trending on Twatter will really change things, good job. Link to comment Share on other sites More sharing options...
Dutchmul Posted April 28, 2015 Share Posted April 28, 2015 I'm at the stage now where I actually think King doesn't want to be passed as a FPP by the SFA. That way he doesn't have to put his hands in his pockets and both him and the orcs can blame the SFA for plunging their club further into the abyss. King doesn't want to spend his own money, King also now knows (via Murray) what the state of the books are... IMO he will be looking for the quickest escape from this situation back to SA! This is what I believe as well, since they took the board and have had a good look under the bonnet they now realise what a financial basket case sevco is and king hates spending his own money so thats why no investement from him, we shall soon find out as pay roll is due on thursday. Link to comment Share on other sites More sharing options...
The Gasman Posted April 28, 2015 Share Posted April 28, 2015 http://www.rangers.co.uk/news/academy-news/item/9157-club-statement Link to comment Share on other sites More sharing options...
Don Dan Posted April 28, 2015 Share Posted April 28, 2015 http://www.rangers.co.uk/news/academy-news/item/9157-club-statement I wonder if the levy can be applied to the season tickets ie 1/40th of the ST price (I'm assuming it's 40 games). Typical SPFL though rules written by idiots. Link to comment Share on other sites More sharing options...
i wish jj was my dad Posted April 28, 2015 Share Posted April 28, 2015 The Sfa/Regan covering themselves in glory as info emerges about just how easy Whyte hoodwinked them re: Fpp. [emoji1] You've got to hand it to this rag - it isn't easily embarrassed but this should be filed in the same archive as Keech's 'off the radar' story Link to comment Share on other sites More sharing options...
The Gasman Posted April 28, 2015 Share Posted April 28, 2015 I wonder if the levy can be applied to the season tickets ie 1/40th of the ST price (I'm assuming it's 40 games). Typical SPFL though rules written by idiots. It really is cringingly embarrassing just how naive / stupid those that wrote these rules have been.... ....it doesn't reflect well on the individual Club's either, as they have voted them all through with little, or no, challenge. Link to comment Share on other sites More sharing options...
The Gasman Posted April 28, 2015 Share Posted April 28, 2015 I wonder if the levy can be applied to the season tickets ie 1/40th of the ST price (I'm assuming it's 40 games). Typical SPFL though rules written by idiots. I'm still curious as to who has agreed to underwrite the costs for Rangers, as they're not exactly flush with funds, and will have bills to pay for these game(s). Link to comment Share on other sites More sharing options...
Dutchmul Posted April 28, 2015 Share Posted April 28, 2015 I'm still curious as to who has agreed to underwrite the costs for Rangers, as they're not exactly flush with funds, and will have bills to pay for these game(s). As always with sevco, someone else will pay Link to comment Share on other sites More sharing options...
Surrey Jambo Posted April 28, 2015 Share Posted April 28, 2015 I wonder if the levy can be applied to the season tickets ie 1/40th of the ST price (I'm assuming it's 40 games). Typical SPFL though rules written by idiots. I like the way their web site is heralding that BT Sport will show all 6 play off games - presuming Sevco are in all 6? http://www.rangers.co.uk/news/headlines/item/9155-premiership-play-off-dates-confirmed Link to comment Share on other sites More sharing options...
The Gasman Posted April 28, 2015 Share Posted April 28, 2015 As always with sevco, someone else will pay It's seems at face value a nice gesture to their fans (albeit probably being done for less altruistic reasons) but for the Board of a business that's losing money, to turn down a sizeable income, surely puts the Directors in a very vulnerable position..? Link to comment Share on other sites More sharing options...
Angus Young Posted April 28, 2015 Share Posted April 28, 2015 http://www.rangers.co.uk/news/academy-news/item/9157-club-statement i note how they state matches and games i hope QOS Horse them in the first round so only the one GAME is played at sevcos castle greyskull. Link to comment Share on other sites More sharing options...
Deevers Posted April 28, 2015 Share Posted April 28, 2015 It's seems at face value a nice gesture to their fans (albeit probably being done for less altruistic reasons) but for the Board of a business that's losing money, to turn down a sizeable income, surely puts the Directors in a very vulnerable position..? Shows just how desperate they are for promotion. You get the feeling that if they fail then they are deep in the mire again. Loss making in these games is minute compared to what they will lose if they fail. Link to comment Share on other sites More sharing options...
redjambo Posted April 28, 2015 Share Posted April 28, 2015 Shows just how desperate they are for promotion. You get the feeling that if they fail then they are deep in the mire again. Loss making in these games is minute compared to what they will lose if they fail. Exactly. Link to comment Share on other sites More sharing options...
Angus Young Posted April 28, 2015 Share Posted April 28, 2015 Petrie, Liewell and now this Harrier. "THE SFA has today announced self-confessed Celtic fan Gary Hughes? appointment to the board." not looking good for the Lying King. Link to comment Share on other sites More sharing options...
steve444 Posted April 28, 2015 Share Posted April 28, 2015 Link to comment Share on other sites More sharing options...
steve444 Posted April 28, 2015 Share Posted April 28, 2015 Maybe they could buy from the club shop so their club gets more ??? ooohhh wait lol ?3.75p from every shirt sold. [emoji23] Link to comment Share on other sites More sharing options...
jambovambo Posted April 29, 2015 Share Posted April 29, 2015 http://www.philmacgiollabhain.ie/hurry-and-wait/ Link to comment Share on other sites More sharing options...
Stuart Lyon Posted April 29, 2015 Share Posted April 29, 2015 Yet another so called scribe calling for King to be deemed a F&PP! Michael Grant in today's Times says it would be difficult for the SFA to fly in the face of the recognition the Court of Session gave King and the fact that he is accepted as a company director in SA where he committed the crimes that led to him being described as a 'Glib and shameless liar'! At one point in the article he says "King is no pariah and it would have been far more alarming if he had bee convicted of fraud (he was not)." You couldn't make this stuff up - wasn't he guilty of fraudulently evading tax? Link to comment Share on other sites More sharing options...
AndrewB Posted April 29, 2015 Share Posted April 29, 2015 Yet another so called scribe calling for King to be deemed a F&PP! Michael Grant in today's Times says it would be difficult for the SFA to fly in the face of the recognition the Court of Session gave King and the fact that he is accepted as a company director in SA where he committed the crimes that led to him being described as a 'Glib and shameless liar'! At one point in the article he says "King is no pariah and it would have been far more alarming if he had bee convicted of fraud (he was not)." You couldn't make this stuff up - wasn't he guilty of fraudulently evading tax? Maybe it's a Julian Assange-type "fraud fraud" as opposed to "fraud." Sorry if that reads like gobbledegook, hope you know what I mean! Link to comment Share on other sites More sharing options...
jambovambo Posted April 29, 2015 Share Posted April 29, 2015 Maybe it's a Julian Assange-type "fraud fraud" as opposed to "fraud." Sorry if that reads like gobbledegook, hope you know what I mean! Is that a bit like Micky Flanagan's "out out" routine ? https://www.youtube.com/watch?v=0jP_brwVyvc Link to comment Share on other sites More sharing options...
davieholt Posted April 29, 2015 Share Posted April 29, 2015 (edited) Noticed on twitter that SD is pulling the Glasgow airport store now. Edited April 29, 2015 by davieholt Link to comment Share on other sites More sharing options...
jambovambo Posted April 29, 2015 Share Posted April 29, 2015 (edited) http://sport.stv.tv/football/clubs/rangers/318698-scottish-fa-fit-and-proper-process-no-test-for-dave-king-to-pass/ Explained: Dave King and the Scottish FA's fit and proper process Edited April 29, 2015 by jambovambo Link to comment Share on other sites More sharing options...
Recommended Posts