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The Rangers soap opera goes on and on.


Sergio Garcia

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From Richard Wilson's timeline (read from bottom up):

 

King: mandate is to get players who could perform in the Premiership, to greatly reduce risk for next season

 

King: potential managers dropped out when club failed to get promotion

 

King: who is Mark Wotte?

 

King: we are going to increase running costs and investors will provide funding to cover that for three years.

 

King: at end of three years club needs to be sustainable

 

King: mandate is to get players whom could perform in the Premiership, to greatly reduce risk for next season

 

King: we are not going to be irresponsible in terms of cost. Squad last year did not perform to level of Champ

 

King: it's overinvestment in terms of timing. We will accelerate investment, to bring players in earlier

 

We are@comfortable with the deal, I don't expect fans to buy merchandise in any greater numbers than they are

 

King: arrangement cannot be working for Sports Direct with 50,000 shirts being sold. Until we are confident enough to come to fans tonsay

 

King: we're asking fans to support & trust us. It's an awkward situation we find ourselves in, new exec team coming in, new management team

 

King: we have threw transfer windows to prepare for the top-flight and improve the squad

 

King: investors will fund shortfall in short-term but mobilisation of fans via season tickets and merchandise provides sustainability

 

King: we have a board that fans can trust, investors have put money in and fans can be co-investors

 

King: we have started process of engagement with Sports Direct

 

King: funding plan is to spend what it takes to go up and be competitive in top-flight

 

King: I will invest, but so will others

 

King: we will need money now to beef up squad. Players to be competitive in Premiership, so substantial investment in next months

 

King: here to rebuild club for a longer period of time, but business risk of staying in Champ is lower

 

King: level of investment depends on other factors, retail, season tickets, etc. Hope to sell out season tickets to bring in 12m to 13m

 

 

So any investment in players will come from ST sales ONLY , as they don't have any retail income to speak of.

 

I don't see Park coughing up and King is (as always) talking a good game but hasn't ponied up one cent so far.

 

So to recap - new manager in shortly , he will go looking for players and pre season starts when ?

 

You gotta love the way Wilson spins it all as though everything is going to plan. I mean , in the history of Scottish football  , what team ever finished 3rd in the Champinship, got  battered in the play of final, just lost a load of players (not one of whom has been replaced yet) and hasn't got a bean in the bank to buy a single player can still manage to get the Glasgow media to pretend it's all going to plan.

 

Brilliant. Just brilliant.

 

No crisis here folks, move along now.

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Other people's money - that's how I would sum that up.

 

I'm sure there will be a queue of agents trying to place their client in Glasgow for a paltry ?20k a week

 

They never learn - thank god!

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Alva-Jambo

He made money  / S Africa, grant him that, but based, on fortuiotous business events.

Apart from that....

King is

rather dim.    

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Alva-Jambo

from rangers news  via Twitter this stands out surely.    ( Kings words) 

 

".....I am giving the fans a very firm statement of intent for what we are going to do going forward. We are going to continue to fund, but we have to co-invest with the fans.

?Rangers can never be sustainable just by relying on third party investments. 

?We need the fans to come back and support the club, but at least what they know this time is by making the funds available all of the money will be going into the football side and they will get a better experience on the pitch this season than they had last season.".....

 

ie We need your season money, then we will put a few million in.. a few.. when we have to... err.   maybe.

King no millions, he's a busted flush.

- great! another wan  ker  . 

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Shouldn't the fans now boycott season tickets until they see investment from king?. Let him put the anticipated shortfall in first.before committing: it would be a positive gesture from king, surely?

Season tickets at Sevco to increase by 5%. Merchandising is being boycotted at the moment in their club superstore. King has also stated they will "spend whatever it takes" to get back up

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Jambo-Jimbo

King told STV back in March that figure would be "north of ?20m in the short- to medium-term" then ?10m in May and now wouldn't state any amount today apart from " over investment"

 

Glib & Shameless..

 

The report on Reporting Scotland had King saying he didn't know what the level of investment would be as it would depend on how many season tickets were sold.

 

In other words what he means is, the more the fans pony up the less I have to.

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Unknown user

from rangers news  via Twitter this stands out surely.    ( Kings words) 

 

".....I am giving the fans a very firm statement of intent for what we are going to do going forward. We are going to continue to fund, but we have to co-invest with the fans.

?Rangers can never be sustainable just by relying on third party investments. 

?We need the fans to come back and support the club, but at least what they know this time is by making the funds available all of the money will be going into the football side and they will get a better experience on the pitch this season than they had last season.".....

 

ie We need your season money, then we will put a few million in.. a few.. when we have to... err.   maybe.

King no millions, he's a busted flush.

- great! another wan  ker  . 

Surely he's another wan, King

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The biggest thing rangers can do to sort themselves out is no hire a blithering idiot to be their next manager. We really shouldnt have won the league last season and McCoists ineptitude went just as far as Robbie and Craigs efficiency into making it happen

 

That is very unfair imo

Hearts won the League by a huge margin. Even if The Rangers had had a good manager we would still have won it . Maybe not such a big gap but enough to win the Title. It would have taken a huge turnaround to stop us.

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tartofmidlothian

The biggest thing rangers can do to sort themselves out is no hire a blithering idiot to be their next manager. We really shouldnt have won the league last season and McCoists ineptitude went just as far as Robbie and Craigs efficiency into making it happen

Of course we should have won the league. But we should have been made to work for it, at least.

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Geoff Kilpatrick

So King plans to use tried and tested methods of pissing money against the wall, although the level of piss is indeterminate?

 

As I say, just another mediocre Scottish club.

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Why would King put up cash when he owns a mere fraction of the shares? Pumping in millions to benefit other shareholders? No way is he going to do that. He'll put up his share in a rights issue, but only if others do the same.

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Footballfirst

Gym Trainer Rangers TV interview with Dave King asking more of the same questions.

 

http://www.rangers.co.uk/news/rangerstv/item/9438-exclusive-freeview-king-interview

 

Confirms that they are looking for 45,000 ST sales........ wtf.

New manager to be confirmed by the middle of next week.

A couple of contenders withdrew after the play-off defeat.

Looking for 6 or 7 new players for the new season to replace the 11 who left at the end of their contracts.

No fixed budget for the new manager.

Will accelerate spending on players if potential signing deemed worthwhile.

Still not revealing what he will invest, even a minimum amount.

They won't voluntarily repay the SD loan.

We have met our commitments to the fans (King & the 3 bears investments and promises)

We have to co-invest with the fans.

Edited by Footballfirst
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Shameful the way the media has shyed away from asking the questions they are supposedly paid to. On the back of the drip- drip anti-ally stories that have been run over last few weeks, it seems the msm are desperate to be tasting King's succulent lamb. The over investment comment reminded me of murrays 'for every ? celtic spend, we wiil spend 5'.

King is playing shamelessly to the masses instead of showing humility, saying lessons have been learned and we will build a robust foundation to serve the club well for decades. That would be first step in applying to rejoin human race

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My take on it: (re-ordered and my comments in brackets)

 

King: need to win the league, so right to over-invest to have strong squad, so investment process acceleratwd

(What investment?)
 
King: we will need money now to beef up squad. Players to be competitive in Premiership, so substantial investment in next months

(Figure?)

King: level of investment depends on other factors, retail, season tickets, etc. Hope to sell out season tickets to bring in 12m to 13m

(I though the FPP test cleared the way for your Kids' inheritance to be spent)

King: investors will fund shortfall in short-term but mobilisation of fans via season tickets and merchandise provides sustainability
 
(Sustainability! WTF)

King: we're asking fans to support & trust us. It's an awkward situation we find ourselves in, new exec team coming in, new management team
 
(Be LOYAL! I've only had several months to plan/announce nothing)

King: arrangement cannot be working for Sports Direct with 50,000 shirts being sold. Until we are confident enough to come to fans tonsay

We are@comfortable with the deal, I don't expect fans to buy merchandise in any greater numbers than they are

(Oops, do a chairman of a company just ask fans to boycot buying merchandise, legitimate business deal, in order to harm their business partner?)

King: it's overinvestment in terms of timing. We will accelerate investment, to bring players in earlier

(So you say, assisted by retail sales, which you just asked for a boycot on...)

King: we are not going to be irresponsible in terms of cost. Squad last year did not perform to level of Champ

King: funding plan is to spend what it takes to go up and be competitive in top-flight

(What it takes! There is no guarantee; is that responsible?)

King: mandate is to get players whom could perform in the Premiership, to greatly reduce risk for next season
 
(so there is a risk then)

King: we are going to increase running costs and investors will provide funding to cover that for three years.

King: at end of three years club needs to be sustainable

(So you are not now, no news there, does that mean you are admitting to "buying" the league? Some people said Dave would not seek to damage Scottish football)

King: we have a board that fans can trust, investors have put money in and fans can be co-investors

(Trust? Investment?)


How can any Rangers fan believe this?


If you are being kind you could say that:

They do need to ensure promotion.

The do need to get out of their onerous Sports Direct contract.

They didn't plan to be in the Championship so plans have been disrupted.

They do need new players and multi-year deals suggest they should be good enough in case they go up (as is likely with a big spend and a decent manager).

That they do have, in theory, enough fans to sell ?12M of season tickets (inc VAT?)

That "sustainability" chat does not offer a guarantee they will be competitive with Celtic.

That fans have to trust someone to get them out of the mess they are in.

That the new regime could have walked into a mess bigger than they imagined.

That they aren't being irresponsible if they truly are going to put in the cash and not leave creditors flailing if it goes Pete Tong.

That being competitive in top flight would bring in more money.

That risk of not getting promotion is lowered by overspending.

That increasing running costs, when already losing a fortune every month, is OK if it's his kids' money.

That fans can co-invest.


Of course, you would have to be VERY kind to think all of that was OK or likely.

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Footballfirst

I had a look back at previous accounts for the Oldco.  The highest number of STs sold in any of the last 20 seasons was 43,187 in season 2006/07. Even during the 9 in a row period their sales were around 35k.

 

It makes the aim of 45,000 a ridiculous target.

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The Gasman

....It makes the aim of 45,000 a ridiculous target.

Which if (when!) not met, will be the fault of the fans, so absolving King & Co of any blame.... :rolleyes:

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Jambo-Jimbo

I had a look back at previous accounts for the Oldco.  The highest number of STs sold in any of the last 20 seasons was 43,187 in season 2006/07. Even during the 9 in a row period their sales were around 35k.

 

It makes the aim of 45,000 a ridiculous target.

 

If you can check, then so can the succulent lamb brigade, the question is will they?

 

I won't be holding my breath.

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FF, don't go using facts when fantasy is clearly the correct route to take! 45,000 is not only on the cards, I think Dave has stated that as that's the hard limit they are going to enforce in about 3 days; no season ticket before 45,000 are sold and you are out of luck. That's right, no more walk up and buy one of the 20,000 free tickets.

 

And why would Rangers not sell out, they have:

 

A top class manager

A DOF to die for

Coaches that can turn a prospect into a superstar

A family-friendly atmosphere

The most beautiful fans in the world

A strike force that puts Champions League winners to shame.

A trophy room full of knock-out cups earned in their last(first) three years of glory.

A shining beacon of financial probity guiding their every move.

Stunning infrastruture, including a stadium crafted to the highest construction standards.

Amazing artwork adorning every wall, best enjoyed whist supping a complimentary beer and succulent pie.

 

Not to forget, a depth of squad that is truly astounding (really astounding).

 

I just can't see why you are doubting them.

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The Gasman

Why would King put up cash when he owns a mere fraction of the shares? Pumping in millions to benefit other shareholders? No way is he going to do that. He'll put up his share in a rights issue, but only if others do the same.

You're right of course, but if he doesn't invest millions, other than fans ST money, who else will invest..?

 

Who would invest in a business losing tens of thousands of pounds a day, tied in to onerous contract(s) and where those running it (King & Co) have apparently done little to reduce losses, and have actually publicly stated they intend to "over invest" for the next year or two..?

 

:blink:

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Spellczech

You're right of course, but if he doesn't invest millions, other than fans ST money, who else will invest..?

Who would invest in a business losing tens of thousands of pounds a day, tied in to onerous contract(s) and where those running it (King & Co) have apparently done little to reduce losses, and have actually publicly stated they intend to "over invest" for the next year or two..?

:blink:

not just who but how? Only way is by rights issue, but surely he will have to underwrite it himself. This means that everybody except King will have a choice about wasting more money on Sevco equity. Small shareholders are not going to be interested in maintaining a minute percentage. Most of the large shareholders will also not chuck good money after bad- I mean remaining institutional investors, Ashley, Easdales, and perhaps even Park or others if the rumours of fall outs and angry wives are true...
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In all seriousness, if KIng & co do stump up loans (to be converted to equity) then I suspect that those loans will convert at the point when takeover rules are most favourable to KIng (a low price has been in effect for the required time so he does not have to offer over the odds) - now how could King ensure the share price is kept low?

 

Shareholders don't have to sell when offered any buy-out of course, but I can't see King swapping loans for equity until it suits him. This almost guarantees that him and the three bears (or two bears if what I heard is true) will have to put up the cash (if the fans don't get suckered into putting up most of it - which I can't see how fans can manage to fund a, more, profligate Rangers). Could be that King really is prepared to put some cash in; he might actually put up ?5M of "his own" money to gamble on promotion and being heralded the saviour of Rangers. Who knows what his motives are, could be to sell a proportion of his shares when/if in a better position to get back his cash and leave him with a shareholding and chairmanship or it could be something else - I can't see what makes sense given what went on today.

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from rangers news  via Twitter this stands out surely.    ( Kings words) 

 

".....I am giving the fans a very firm statement of intent for what we are going to do going forward. We are going to continue to fund, but we have to co-invest with the fans.

?Rangers can never be sustainable just by relying on third party investments. 

?We need the fans to come back and support the club, but at least what they know this time is by making the funds available all of the money will be going into the football side and they will get a better experience on the pitch this season than they had last season.".....

 

ie We need your season money, then we will put a few million in.. a few.. when we have to... err.   maybe.

King no millions, he's a busted flush.

- great! another wan  ker  . 

That's no different from last season,  before King.

 

 

This is just sophistry. All the ST money goes into the club, we all know that. It's the money being siphoned out of the club (and I don't mean Ashley) that is killing Sevco. King is now having to spin a different story : last year it was "don't buy" , this years it is "buy, we need the cash". 

 

What has King done at Ibrox to stop the bleeding of the club that prompted him to propose the boycott in the first pace ?

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What has King done at Ibrox to stop the bleeding of the club that prompted him to propose the boycott in the first pace ?

 

Diddly squat, apart from throw the toys out of the pram in regards to the onerous contract with Ashley. If he had been able to stem the flow he would have been proclaiming his victory from the highest spire. Rangers by all accounts, via the incompetence/spivvery of Charles "I'll play you like a fiddle by spouting bigoted pish" Green, entered into really bad commercial (yet legal) contracts. I think King has seen the calamitous contracts and it has derailed whatever plan he had. Seems that the speedy turnaround might need a little longer than planned, plan B is now in full play. I don't think he means to be as bad for Rangers as others have been, could be he's too late to make the difference that he wants to. He'll either turn it around having spent very little himself (?5 Million) or it'll go tits up. We can only prey for the latter.

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The biggest thing rangers can do to sort themselves out is no hire a blithering idiot to be their next manager. We really shouldnt have won the league last season and McCoists ineptitude went just as far as Robbie and Craigs efficiency into making it happen

I can't understand this post at all. Why on earth should we not have won the league last season? When we were confirmed as champions, we had won 78 points out of a possible 87. That's one defeat and three draws from 29 league games. It wasn't our record against SevCo that won it for us - it was our unbelievably consistent record against everyone except them and Hibs.

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Started reading the Roddy Forsyth article (and was impressed by the truths being rolled out), but went downhill quickly - if you you want a laugh then read it. I got as far as the first piece of bluster and had to look it up.

 

From the Telegraph:

 

King: I?m really asking the fans to think back to three seasons ago when, for their first home game in the Third Division, Rangers had the biggest attendance in the UK.

 

Pish! 18th August 2012 - Arsenal (first team I looked up) had a larger attendance http://www.arsenal.com/match/report/1213/post/first-team/arsenal-0-0-sunderland-match-report

 

Celtic weren't in the equation that day (or Man Utd and other Premiership teams) but Newcastle did play... beating Rangers' crowd too with 52,385 http://www.bbc.co.uk/sport/0/football/19221418

 

Rangers has a very good crowd (49,118), but the G&SL strikes again.

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Wiki ( i know) states that the Financial fair play rules will be in full effect in 2015, be interesting to see if they get pulled up on over spending.

 

Think it's going to be a very difficult task for any football authority to find a suitable punishment for those who do.

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FFP rules are for European competition/qualification only I think.

Not in the case of QPR. But when it's the SFA potentially enforcing FFP on certain clubs no doubt they'll be not so much rules as 'guidelines'.

 

Nevertheless I would love this 'over-invest' strategy to go pearshaped and for the SFA to get their collar felt by UEFA for letting it happen.

 

It won't though.....:-)

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I just don't get how the figures add up. So far they are 5m in debt to MA who wants his money back. Nobody knows the terms of the loan agreement so whether he can or can't do this remains to be seen.

 

They are owe Park 1.5m and DK whatever he put in last month.

 

They have gotten rid of some big wages but that was not the problem anyway as their wage to turnover ratio was fine. Rather than save this money and reduce costs they are going to spend more than last year to get promoted.

 

So even if they sell 45k that will not last very long if they are going to be running at a loss of at least 1m a month.

 

So let's say they do have the investment in place and they do get promoted next year they will start the SPL still owing 7m? Plus whatever the shortfall is next season, say 10m being kind and still running at a loss.

 

Promotion to the SPL is surely not going to cover that shortfall? Which means they have do to it all over again the year after.

 

The only way the model is sustainable without cutting costs them making the group stage of Champ League.

 

Good luck to them but anyone can see the numbers just don't work without continual investment ( which could happen) and even the you are just more and more in debt.

 

Hubs, Hearts and Motherwell showed them you can compete whilst living in your means.

 

From a position of 70m in the bank to this is astonishing, they should have skooshed it back to the SPL.

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Ibrahim Tall

Not in the case of QPR. But when it's the SFA potentially enforcing FFP on certain clubs no doubt they'll be not so much rules as 'guidelines'.

Nevertheless I would love this 'over-invest' strategy to go pearshaped and for the SFA to get their collar felt by UEFA for letting it happen.

It won't though.....:-)

QPR's case is different, the Championship created their own rules a few years back to prevent clubs over-spending to reach the Premiership. It's those rules they fall foul of nothing to do with UEFAs version.

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QPR's case is different, the Championship created their own rules a few years back to prevent clubs over-spending to reach the Premiership. It's those rules they fall foul of nothing to do with UEFAs version.

Ahh I see. One thing you can say about the FA is that they have clear and concise rules on tax fraudsters and financial irresponsibility. Well in comparison to the monkeys at the SFA anyway.

Edited by cameron79
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So King needs min. 45k season tickets.

 

Not sure if Gardening Ally cares anymore but I'm sure he would have welcomed 45k season tickets last season heading towards 48k crowds.

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Jambo 4 Ever

How many season tickets will it take to pay off the rest of ally McCoists contract?

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Dave McCreery's knee

So the guy who urged fans not to buy season tickets last year urges fans to buy season tickets this year.

 

Rangers strategy is to over-spend. The same strategy they used in recent years to give guys like Ian Black ?8k per week contracts. That strategy failed when the met a club with a clear football vision of youth, experience, hard work and good management and corporate governance. None of which is even mentioned by King for Rangers "going forward"

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501a1a898ea43f9981a75f17a1ca11f2.jpg

War chests

 

 

Sent from my iPhone using Tapatalk

:rofl:

 

 

This is all very pleasing, have to say I was a bit worried - I thought Rangers may have started investing in a decent scouting network and investing money in their youth team supplemented by a few decent experienced players.

 

It would appear they are going to continue down the same road of spending 8k a week on crap players to try and spend their way up the leagues.

 

 

 

Also ?12 million on players?? Do Rangers fans actually believe this shit? Perhaps they are about to swoop in and scupper liverpools bid for Danny ings (daily record headline tomorrow NAP)

Edited by Longshanks
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Angus Young

:rofl:

 

 

This is all very pleasing, have to say I was a bit worried - I thought Rangers may have started investing in a decent scouting network and investing money in their youth team supplemented by a few decent experienced players.

 

It would appear they are going to continue down the same road of spending 8k a week on crap players to try and spend their way up the leagues.

 

 

 

Also ?12 million on players?? Do Rangers fans actually believe this shit? Perhaps they are about to swoop in and scupper liverpools bid for Danny ings (daily record headline tomorrow NAP)

 

 

And financed by the fans king is now using the MSM to whip up support to get much needed finance via the season ticket bounty, a new share issue will be next.

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The Treasurer

:rofl:

 

 

This is all very pleasing, have to say I was a bit worried - I thought Rangers may have started investing in a decent scouting network and investing money in their youth team supplemented by a few decent experienced players.

 

It would appear they are going to continue down the same road of spending 8k a week on crap players to try and spend their way up the leagues.

 

 

 

Also ?12 million on players?? Do Rangers fans actually believe this shit? Perhaps they are about to swoop in and scupper liverpools bid for Danny ings (daily record headline tomorrow NAP)

Nice of the Rantic to run a free front page ad for their ST sales (with the obligatory "warchest" catchphrase of course)

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Just seen this gem from the interview in the Telegraph. Beggars belief.

 

The first question a potential manager normally asks of would-be employers ? apart from the level of his own salary, of course ? is the upper limit of his budget. ?There?s no upper limit,? said King.

?We?re talking in a sensible environment where the guy knows what he?s doing. He?s not going to go and sign Ronaldo. We all understand that.

?If he comes along and says, ?I?ve got a guy here and and he?s going to cost X thousand pound a week, and he?s not in the budget but I think he?d make a difference to the club and he?d help us over the next couple of years?, I?d say ? take him.?

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Jambo-Jimbo

Just seen this gem from the interview in the Telegraph. Beggars belief.

 

The first question a potential manager normally asks of would-be employers ? apart from the level of his own salary, of course ? is the upper limit of his budget. ?There?s no upper limit,? said King.

?We?re talking in a sensible environment where the guy knows what he?s doing. He?s not going to go and sign Ronaldo. We all understand that.

?If he comes along and says, ?I?ve got a guy here and and he?s going to cost X thousand pound a week, and he?s not in the budget but I think he?d make a difference to the club and he?d help us over the next couple of years?, I?d say ? take him.?

 

So King is going to decide who and who doesn't come in to play for Rangers.

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Just seen this gem from the interview in the Telegraph. Beggars belief.

The first question a potential manager normally asks of would-be employers ? apart from the level of his own salary, of course ? is the upper limit of his budget. ?There?s no upper limit,? said King.

?We?re talking in a sensible environment where the guy knows what he?s doing. He?s not going to go and sign Ronaldo. We all understand that.

?If he comes along and says, ?I?ve got a guy here and and he?s going to cost X thousand pound a week, and he?s not in the budget but I think he?d make a difference to the club and he?d help us over the next couple of years?, I?d say ? take him.?

I'd be delighted if they signed ronaldo!!

He'd fit right into kris boyds shirt also.

I was obv talking about the old ronaldo!

Edited by 1874robbo
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Pistol1874

I don't suppose he completed the full house of bullshit by promising to spend ?10 for every ?5 Celtic spend?

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Geoff Kilpatrick

King sounds like Vlad 05/06.

 

No doubt the media will be as hard on him as they were on Vlad.

 

:rolleyes:

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BBC are saying that Van Persie might be sold for ?10m....I think he'd score for fun in the Scottish Championship!!!!

 

It's firkin deja vu time - war chests and moonbeams galore

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Anyone got a take on how Rangers fans (friends/colleges) are taking Kings hyperbole?

 

I've been enjoying it with a coffee all morning. They are ****ing raging.

 

Starting to think it'd hibs league to lose next season the way it's going.

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doctor jambo

They wanted King pumping in ?20 million and a signing spree- ?2million players and back to the Minty days.

they got a season ticket hike and a ?12 million player budget inc wages funded entirely by season ticket sales.

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Anyone got a take on how Rangers fans (friends/colleges) are taking Kings hyperbole?

The Bears Den is really quite entertaining today, The thread "Dave King is full of Sh**e" is really quite illuminating. Some bears seem to get it.  

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