The situation at Rangers is a joke, blasts former striker Nacho Novo who backs Dave K

[Thinker 887]

Try reading the article written by the LAWMAN on RM and you'll get a better idea of where the money went. No it wasn't all spent well & he concedes that but the suggestion it was all wasted is nonsense. Running a club the size of Rangers in the lower leagues was never going to be a money-maker unless you were to pay everyone £200 p.w. as some would suggest

 

That was posted on here too: http://www.gersnetonline.co.uk/vb/showthread.php?63652-£70-7m-where-has-it-gone

 

Obviously we haven't squandered the whole of the £70 million as that would have involved spending nothing for the last 2 years. I'd have understood it if we'd eaten into the IPO money to make up for the shortfall in income from not being in the top flight, but a £10million per year overspend? Add to that the fact that you had CG proudly boasting of our bank balance, whilst simultaneously signing horrible, detrimental deals without lawyers present, for God only knows what shady reason. It smacks of people filling their boots to me.

 

I don't see how anyone can seriously defend the running of the club over the last two years.

[buster. 5,257]

Try reading the article written by the LAWMAN on RM and you'll get a better idea of where the money went. No it wasn't all spent well & he concedes that but the suggestion it was all wasted is nonsense. Running a club the size of Rangers in the lower leagues was never going to be a money-maker unless you were to pay everyone £200 p.w. as some would suggest

 

Have a look at the football club.

 

Football operation including infrastructure such as scouting network

State of Ibrox stadium

Management of Edmiston House

etc., etc.

 

and tell me if you see the proportional benefit of 70M ?

yes or no

 

Did this article you refer to mention the term 'onerous contracts' ?