New ''Financial Guru' Joins Rangers

[chilledbear 16]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-bring-new-financial-guru-3009812

 

 

FORMER Liverpool and Arsenal financial chief Philip Nash is recruited as a consultant to help streamline the club’s massive outgoings and slash budget.

 

RANGERS have stepped up plans to wipe millions from their budget – by employing a new financial guru to help oversee cuts.

 

Record Sport can reveal former Liverpool and Arsenal financial chief Philip Nash has been recruited by the Ibrox board in a “consultancy” role to help oversee streamlining of the club’s enormous spending.

 

Yesterday the club’s share price fell to 27p and Nash joins chief executive Graham Wallace along with financial director Brian Stockbridge to become the THIRD highly-paid chartered accountant at the top end of the regime.

 

Two further money men, Andrew Dickson and Ken Olverman, are also employed by the club which now needs Nash’s expertise to help turn around losses of an estimated £1m per month.

 

Nash was headhunted by Liverpool in 2008 after helping Arsenal finance their multi-million move from Highbury to the Emirates Stadium.

 

He survived a regime change at Anfield and was credited with helping the club tie up £20m shirt sponsorship with Standard Chartered Bank before standing down in December 2012 citing family reasons.

 

Rangers’ financial position has deteriorated alarmingly in the past 12 months and Stockbridge has admitted they may be down to their last million in little more than two months.

 

As another high earner arrives, Ally McCoist is readying himself for cuts.

 

But he insists Wallace accepts that dramatically slashing the playing budget will undermine progress through the divisions.

 

But the manager admits he does not know the extent to which he will be forced to cut – even after a lengthy meeting with Wallace on Tuesday.

 

McCoist said: “Graham hasn’t told me I need to sell players or get rid of them.

 

“It was just an overall view of the football side and we will meet again next week.

 

“He hasn’t made it known to me where those cuts are going to take place and in what shape or form.

 

“It would make sense to Graham that just cutting and selling is not the right way to go about it in terms of the progression of the club, the team and the squad.

 

“If you need to take one step back to take two or three forward again, that will be Graham’s decision.”

 

McCoist hopes he does not have to lose players during the transfer window.

 

He said: “I would be thrilled to bits if there were no bids.”

[pete 2,499]

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-bring-new-financial-guru-3009812

 

 

FORMER Liverpool and Arsenal financial chief Philip Nash is recruited as a consultant to help streamline the club’s massive outgoings and slash budget.

 

RANGERS have stepped up plans to wipe millions from their budget – by employing a new financial guru to help oversee cuts.

 

Record Sport can reveal former Liverpool and Arsenal financial chief Philip Nash has been recruited by the Ibrox board in a “consultancy” role to help oversee streamlining of the club’s enormous spending.

 

Yesterday the club’s share price fell to 27p and Nash joins chief executive Graham Wallace along with financial director Brian Stockbridge to become the THIRD highly-paid chartered accountant at the top end of the regime.

 

Two further money men, Andrew Dickson and Ken Olverman, are also employed by the club which now needs Nash’s expertise to help turn around losses of an estimated £1m per month.

 

Nash was headhunted by Liverpool in 2008 after helping Arsenal finance their multi-million move from Highbury to the Emirates Stadium.

 

He survived a regime change at Anfield and was credited with helping the club tie up £20m shirt sponsorship with Standard Chartered Bank before standing down in December 2012 citing family reasons.

 

Rangers’ financial position has deteriorated alarmingly in the past 12 months and Stockbridge has admitted they may be down to their last million in little more than two months.

 

As another high earner arrives, Ally McCoist is readying himself for cuts.

 

But he insists Wallace accepts that dramatically slashing the playing budget will undermine progress through the divisions.

 

But the manager admits he does not know the extent to which he will be forced to cut – even after a lengthy meeting with Wallace on Tuesday.

 

McCoist said: “Graham hasn’t told me I need to sell players or get rid of them.

 

“It was just an overall view of the football side and we will meet again next week.

 

“He hasn’t made it known to me where those cuts are going to take place and in what shape or form.

 

“It would make sense to Graham that just cutting and selling is not the right way to go about it in terms of the progression of the club, the team and the squad.

 

“If you need to take one step back to take two or three forward again, that will be Graham’s decision.”

 

McCoist hopes he does not have to lose players during the transfer window.

 

He said: “I would be thrilled to bits if there were no bids.”

 

We will soon have a bigger pool of financial guru's than players. How about offloading the ones before that have failed to do their job.

[chilledbear 16]

Perhaps instead of joins, I should have said 'joins as consultant'.

 

Either way it's another wage.

[der Berliner 3,742]

Newspapers make money with quick news, half-truths, conjecture and hearsay. As football clubs rather hesitantly go after any wrong stuff with all guns blazing, the papers have come to a state where half-truths and conjecture, spiced with a bit reality, go hand in hand on a daily basis. People should start reading the above under such premise.

 

Another "highly-paid" money joins? How do they know? Is Stockbridge (all personal and private stuff excluded) a highly-paid moneyman? By our club's standards? Is Wallace? Do we know how much the other people listed get, how much the consultancy role will bring to the purse of Nash?

 

The paper goes the easiest, and most-feared by the supporters route and claims that cuts will hamper McCoist and the top-stars might be chopped and whatnot. Cuts, cuts, and more cuts to be expected. Aha. On the other hand, they list Nash as the guy who brokered the Gunners' succesfull move to The Emirates and worked for Liverpool as well. Now, I would assume quite "a few" clubs will be green with envy that we are able to get such a guy to help us out, won't they? But not the Scottish media. You could get the idea that nigh every paper is suddenly concerned about our financial state and its impact upon our employees (and highly-paid stars) ... when they looked on with glee as many of their predecessors jumped ship when they could and left us in a perilous state, on and off the field. Only papers can have it both ways ...

[Stimpy 0]

Mentions Dickson and Oliverman needs guidance.....err, what about Stockbridge? Can we guide him out the door?

[ian1964 10,720]

Mentions Dickson and Oliverman needs guidance.....err, what about Stockbridge? Can we guide him out the door?

 

If Stockbridge remains and Wallace slashes the playing staff then this will just turn the fans against him!.

[Super Cooper 0]

Another huge wage for someone to see the obvious?

[RANGERRAB 3,653]

And there was me thinking that Norman Crichton joined the board as he was the man who would bring in the investment. Wasn't that what we were told?

[North Rd 0]

Why is Olverman still in a job? wasnt he the guy who under Whytes orders hid the accounts and could have blown the whistle when Greig and McLelland walked?

[der Berliner 3,742]

Another huge wage for someone to see the obvious?

 

Do you know something we (and the Record) don't? Wages et al?