Zappa 0 Posted February 17, 2014 Share Posted February 17, 2014 Don't have much to go on, but apparently King is predicting our financial meltdown again in another Keith Jackson article.... 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted February 17, 2014 Share Posted February 17, 2014 Lord, the Record is so crass. That layout should be in a horror museum. Do you have to do a PhD in Extremely Bad Taste to be so crass? If the content is as badly thought out as the layout, I won't even bother reading it. I actually tire of this. If DK wants to inform the fans, he knows full well how to do it. He should never have given KJ his PA's PA's number. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted February 17, 2014 Share Posted February 17, 2014 It may just be a putting together of the last interviews with King and Wallace and using the next pay day to rerun King's warning. It fits with the previous April prediction plus added unexpected bills and with the raising of players' wages cuts. The claims are not mutually exclusive though. We could run out of money but not go into admin. A high interest loan from a pal of the spivs or the gangsters till season ticket time. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted February 17, 2014 Share Posted February 17, 2014 Stockbridge said £1m by April or something along those lines and then we paid off Traynor, Mather and one or two players in Mitchell etc. Mr Wallace then said we were sound financially in the short to medium term with no mention of long term i don't think, that was months ago and since then i have saw nothing of any investment, we certainly didn't sell anyone when we could have. 0 Quote Link to post Share on other sites More sharing options...
RyanGers193 0 Posted February 17, 2014 Share Posted February 17, 2014 How about stepping up then Dave??? Instead of scaremongering to the Daily Record... 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 17, 2014 Share Posted February 17, 2014 A worryingly specific prediction. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted February 17, 2014 Share Posted February 17, 2014 Need to see what he actually said mind you. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted February 17, 2014 Share Posted February 17, 2014 A worryingly specific prediction. Well, it is pay day. may even not be him that said the date but the paper putting two and two together, he mentioned end of February or March before so just pick the pay date that fits, type of thing. As you say in your next email, we have to wait and see. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted February 17, 2014 Share Posted February 17, 2014 lifted from FF: EVERYONE loves a pay day. And few more so than some of the characters who have heaved bulging pockets out of the Ibrox front doors in recent times. But in less than a fortnight, on February 27 to be exact, Rangers will face a very different kind of pay day. And this one may well define the shape of things to come in the sort to medium term, both for this club and its current custodians. As is routinely the case the last Thursday of every month is the day wages are deposited into the accounts of this club’s employees. But that’s where the normality ends and the latest twist in this never-ending Rangers saga might finally begin to take shape. Quite simply this club is either about to run completely out of cash before it has time to rake in new season-ticket money. Or it is not. In other words the mysterious Rangers identity crisis is about to reach an end. Either this is the club which is so skint it has no choice but to ask its players to accept wage cuts. Or it is the club which is so flush it can afford to offer the players lunch and afternoon naps at Carnoustie ahead of a league game at Forfar. One thing is for sure, it cannot continue to be both for much longer. Dave King, the perennial would-be saviour, has done his sums and believes Rangers are about to collapse financially for the second time in little more than two years. In fact, even as recently as Friday, on the single most ignominious anniversary in the 142-year narrative of Rangers Football Club, King was attempting to engage with the board but his efforts to provide a solution to the problems were rebuffed. In other words this is becoming a stand-off which will ultimately be determined by the true state of the club’s bank balance. If King is correct, Rangers will be in very serious trouble indeed, if not after settling this month’s wages, then almost certainly before the next lot are due at the end of March. If he is wrong,the board will have enough breathing room at least to get to the end of Graham Wallace’s 120-day review. So far the CEO has had his head stuck under the bonnet for half that time which may explain why he has disappeared from view. Wallace’s Invisible Man act cannot continue indefinitely. With so much conjecture and speculation about the state of his business he must pipe up soon and find a voice if he is to provide this club with the leadership it requires. If he would rather keep a low profile he’s in the wrong job. But again Wallace’s actions are likely to be determined by the state of the club’s accounts. If they are as bad as King has calculated then Wallace will not be able to keep shtum for much longer. Daily RecordDave KingDave King One way or the other a clearer picture of its financial health is about to emerge after many weeks and months of confusion and clandestine operations behind the scenes. According to back of the fag packet accountancy a sum of around £500k will be needed just to pay the first-team wage bill. But that’s far from all because, remember, this is a football club like no other. This is a football club which, going by its most recent audited numbers, lavishes even’more money on its executives and non-football staff than it ploughs into the dressing room. So let’s be conservative, assume some good housekeeping has been carried out in the interim period, and settle for £1million. Either those in charge of Rangers can afford to stump it up without King’s assistance or they can’t. If they can’t what other options are open to them’ The answer is not many. If there is enough left in the vault to keep the lights on until the season-ticket money arrives, Rangers may be able to stumble forward into the summer, hoping supporters who have refinanced this club every year since Craig Whyte’s takeover are prepared to bail it out for a fourth time in huge numbers. Which is in itself far from certain. If, however, the money really is all but gone in the next few weeks then Wallace will have to find some from elsewhere. And if not from King, who else is there’ It’s understood that to date, and despite his very best efforts, Wallace has failed to secure any external financing. Which should come as no great surprise. Rangers, having burned through £22m of IPO investments in little more than a year, are a seriously bad risk. But if Wallace can’t raise money in London then there may be one last alternative. It begins with the letter A and ends in II. On those rare occasions when Wallace has raised his head he has stated categorically that a second administration will not happen on his watch. If he is true to his word, Rangers fans need not worry. Trouble is they’ve heard it all before. And look how that turned out. 0 Quote Link to post Share on other sites More sharing options...
JTP 0 Posted February 17, 2014 Share Posted February 17, 2014 How about stepping up then Dave??? Instead of scaremongering to the Daily Record... If you read further on it looks like he tried ............... 0 Quote Link to post Share on other sites More sharing options...
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