Mountain Bear 0 Posted July 29, 2014 Share Posted July 29, 2014 The GreenCo investors expect a return on their investment. In the absence of a bid premium, or any prospect of a dividend, the sale and leaseback of MP is the obvious way for them to achieve it. If it does happen as predicted, it won't be because of ST sales and the buyer will be connected to GreenCo in some way. 0 Quote Link to post Share on other sites More sharing options...
Hildy 0 Posted July 29, 2014 Share Posted July 29, 2014 The GreenCo investors expect a return on their investment. In the absence of a bid premium, or any prospect of a dividend, the sale and leaseback of MP is the obvious way for them to achieve it. If it does happen as predicted, it won't be because of ST sales and the buyer will be connected to GreenCo in some way. That's three blaming the board now. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted July 29, 2014 Share Posted July 29, 2014 The Directors are aware of recent public comment suggesting fans defer, withhold or ring fence their season ticket monies. These comments are particularly unhelpful as they have the potential to destabilise and damage the Club - if this were to happen, it would force the Club to operate in a manner different from every other Football Club, where the receipt of season ticket monies in advance of games taking place is an established and accepted part of the normal working capital cycle of a Football Club. The projections the Directors have prepared show that the Group is able to operate with positive cash balances throughout the twelve month period from the date of approval of these financial statements under a normal season ticket renewal cycle. In the event that the receipt of season ticket monies was delayed, or only made available to the Group under a "pay as they play" approach, the Directors would require to seek alternative short term sources of finance to bridge the period between normal season ticket renewal and the season ticket funds being received by the Group. While the Directors believe that this would be possible given the significant unencumbered asset base of the Group, they are firmly of the belief that this would not be in the best interests of the Group's long term success. It is clear from the above that the issue is one of cashflow and the reason for it is a reduction in ST renewals. This is not the direct fault of the directors, because for the most part they are not in a position to reduce the cost base due to inherited player and other contracts. The cost budget can only be reduced gradually over a period of time as such contracts fall due for renewal, they are pretty much stuck with budgeted income to match I would guess; forecast income is quite another matter. This will have to be adjusted depending on the final figure for renewals and early indications of game by game and "walk up" attendance. In my opinion it is mostly down to poor quality fare on the pitch (for which you might blame the directors' reluctance to sack the management team) and to a lesser extent the UoF/SoS campaign. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,114 Posted July 29, 2014 Share Posted July 29, 2014 The projections the Directors have prepared show that the Group is able to operate with positive cash balances throughout the twelve month period from the date of approval of these financial statements That is utter guff, 30 June 2013 we had £11.2m cash in the bank and went on to sell 36k season tickets yet come February is it wasn't for emergency loans we'd have been technically insolvent. You don't need a masters degree in economics to see what's coming this season. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted July 29, 2014 Share Posted July 29, 2014 If Murray Park is sold, or sold and leased back within the next twelve months, who will you blame? Will you blame the club's ownership or will you blame fellow fans for not buying season tickets? Will you side with the board when they try to tell us that this is a good move, of will you point the finger at Rangers supporters for opting out of buying STs? Some have been expecting this move for some time - no matter what level our ST sales were at this season. Those who chose to fund a succession of fraudsters, hucksters and crooks are to blame, not those who have decided to withhold funds. The current mob have shown by deed that they have no interest in a football club, they only see a troubled business ripe for stripping. A full page ad in the paper couldn't have made it any clearer. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted July 29, 2014 Share Posted July 29, 2014 Those who chose to fund a succession of fraudsters, hucksters and crooks are to blame, not those who have decided to withhold funds. The current mob have shown by deed that they have no interest in a football club, they only see a troubled business ripe for stripping. A full page ad in the paper couldn't have made it any clearer. We will Follow on ......... with fingers in our ears and eyes shut tight. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 29, 2014 Share Posted July 29, 2014 It was indeed a forecast, there is no indication that Rangers were budgeting for this income. It's clear they required it to remain a going concern. So yes they very much were budgeting for it. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted July 29, 2014 Share Posted July 29, 2014 You will blame the regime. Fair enough. Does anyone else want to answer? The regime of course. No one blows 80 million by accident 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,664 Posted July 29, 2014 Share Posted July 29, 2014 That is utter guff, 30 June 2013 we had £11.2m cash in the bank and went on to sell 36k season tickets yet come February is it wasn't for emergency loans we'd have been technically insolvent. You don't need a masters degree in economics to see what's coming this season. Running costs are too high. Cuts need to be made. No matter where these cuts were made the SoS, UoF etc would then start calling the board fraudsters, asset-strippers etc. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted July 29, 2014 Share Posted July 29, 2014 You will blame the regime. Fair enough. Does anyone else want to answer? Both. I blame the fans, as much as they don't want to hear that. I do. Refusing to support the football team they claim to love because of a few suits they don't like is shameful imo. We are all football fans. Perhaps if we were a support as one we could tackle any dodgy ownership together, more efficiently and maybe even more forcibly. I also blame the current ownership for running our club at a loss just to satisfy the managers greed and need to spend what we don't have. It's an appalling situation. Their inability to say no to someone so inept makes me angry. Anyone looking at our accounts since we newco'd can see where we need to cut costs to run efficiently yet not much that i cna see has been done to get us in a position where we do not need to sell off assets to break even. 0 Quote Link to post Share on other sites More sharing options...
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