Dave King gives an update.

[boabie 230]

" “Off the pitch this season there is a lot less to do than there was last season, I think there is still some tidying up with some of the commercial issues, I think all of it has been dealt with in public.

“I think the club is in far more control of the situation to where we were even three months ago so I am quite confident within a relatively short period of time we will also have the commercial picture fully under control. "

 

I like the sounds of optimism there.

 

http://rangers.co.uk/news/headlines/chairman-speaks-off-field/?

[aweebluesoandso 290]

Clearly a lot going on behind the scenes to outwit the large fellow.

[BEARGER 1,830]

https://www.theguardian.com/football/2016/aug/07/rangers-dave-king-attacks-mike-ashley-club-retail-firm?utm_term=Autofeed&CMP=twt_b-gdnnews

[der Berliner 3,744]

Rangers’ Dave King attacks Mike Ashley for quitting club’s retail firm

 

• Ibrox chairman Dave King accuses Ashley of ill-timed departure from board

• ‘He failed miserably and he has cut and run,’ says King of Newcastle owner

 

 

 

Dave King, the Rangers chairman, has taken a swipe at Mike Ashley by insisting the Sports Direct tycoon “cut and ran” from the board of a club retail company “when the going got tough”.

 

Rangers and Ashley have been involved in long-running legal wrangling relating to Sports Direct’s hold over the Scottish club’s retail operation. The joint venture company has been administered through a separate firm, Rangers Retail Limited, from which Ashley stepped down in June.

 

“Mike Ashley went off the board,” King said of the Newcastle United owner. “So he kind of cut and ran, I suppose, when the going got tough from their point of view. So he’s disappeared.

Hamilton’s Ali Crawford tempers Rangers’ return to the top flight

Read more

 

“We don’t deal with Mike Ashley at all. He went on the board to try and impose himself on Rangers. He failed miserably and he has cut and run. I guess he has bigger problems in life right now than worrying about the retail relationships with Rangers.”

 

With the vast majority of proceeds from strip sales going to enterprises other than the club, Rangers supporters have generally refused to buy this season’s shirt. King chose not to endorse that stance. “It is a decision supporters will have to make themselves,” he said. “We are in a situation where we have made a lot of progress on the legal and commercial front in terms of our dealings with Sports Direct.

 

“I would say our position now in terms of what I would call the control and ability to influence the outcome of the commercial situations is far advanced relative to what it was three months ago, so I am feeling very confident about where we are relative to Sports Direct.

 

“The complication we have, of course, is Puma [who make the strips]. Puma are in the middle of this through no fault of their own.

 

“So what we are trying to do is get a balance right where we go beyond the mere legal dispute. Puma could be drawn into legal dispute with the club but that wouldn’t be fair on Puma. The dispute really belongs between ourselves and Sports Direct. We would like to do our best to mitigate Puma’s position.”

 

After watching Rangers draw 1-1 with Hamilton upon their return to the top flight, King pointed out his expectations for the manager, Mark Warburton. “The resources Celtic have got at this point in time are clearly very, very substantial relative to ours in terms of the footballing side,” said the chairman.

 

“Celtic have resources to compete in Europe. That is really what they are there to do. We are not competing in Europe this season so our standard this year is that we expect to compete with Celtic this season.

 

“Last season, I said the non-negotiable was winning the Championship. I would say this year we should at least come second.”

 

https://www.theguardian.com/football/2016/aug/07/rangers-dave-king-attacks-mike-ashley-club-retail-firm?utm_term=Autofeed&CMP=twt_b-gdnnews

[pete 2,499]

I am starting to get a bad taste in my mouth. I feel Mr King is starting to backtrack on the money investing in the team. I know wages cost a lot but he has just reaped in about 48million in season ticket money. We have not even given 1 million out on transfer fees. I understand we are short of cash and the club needs to be run within it's budget but if there is no money to be spent then MR King and indeed Mr Warburton should have been honest up front and said we can only afford free transfers. It is starting to feel like like I have got your money so I can cut the spin and start with the the softening up procedure. A new player tomorrow but we all know tomorrow never comes. I am also starting to think he is using the Ashely situation to cover for the low investment in the team.

Mr Warburton keeps telling us we need to learn from our mistakes but it would seem he is not learning anything as everyone can see the defence is very poor. A Centre-Back should have been his first priority and there should have been cash available for a decent one. We could be 20 points behind by the January window. Russian roulette springs to mind. I really doubt we will be fighting for Europe with Kiernan as our main centre-back. We really should be taking the chance on a 2-3 million pound CB who has the possibility to be sold on for a lot more.

I hope I am wrong but I have the feeling MR King is trying to pull the wool over our eyes to a certain extent and keeps moving the goalposts. I know this won't be popular and yes we are in a better place than a year ago but spin is spin whoever uses it.

[Bluedell 5,624]

I know wages cost a lot but he has just reaped in about 48million in season ticket money.

 

How much do you think the average season ticket costs? Over £1,000?

 

I'd imagine the average season ticket rice is under £500, so we have probably brought in under £20m.

 

Our annual costs will be in excess of £25m so we don't have much tom play with.

[calscot 0]

I think you may have miscalculated - 48m? We have about 42k season tickets sold, are you saying the average price is £1140 plus VAT? Ie about £1370?

 

I would imagine the income from that is nearer something like £15-17m. It's not that huge. Our other income is not that great yet as last season we had peanuts from TV, SPFL sponsorship, and prize money. Our merchandising income is also incredibly low. Next summer we will have a lot more income, although still nothing special.

 

Our recent total, annual revenue has been about £16-18m with expenditure about £10m above that - so it's no surprise that we are reluctant to pay for transfer fees - just where does the money come from when we're not even close to running the club withing its budget?

 

He really doesn't have our money, and he's having to use his own (and others) to balance the books - which right now is obviously about a £10m a year investment, hopefully reducing.

 

We're losing about £4m a year due to Ashley, so when you look at those numbers, it's very significant at this time.

 

Before attacking King for pulling the wool over our eyes, I think you have to have a good look at the financial numbers. I may have got it wrong myself, but if so, please show us the real figures.

[calscot 0]

Annual report 2015:

 

http://rangers.co.uk/wp/wp-content/uploads/2015/11/AnnualReport2015.pdf

[pete 2,499]

How much do you think the average season ticket costs? Over £1,000?

 

I'd imagine the average season ticket rice is under £500, so we have probably brought in under £20m.

 

Our annual costs will be in excess of £25m so we don't have much tom play with.

 

I thought most were paying 600 pounds so with corporate seats, sky boxes plus the more expensive season tickets that the average would be a lot higher than 500. I also thought I read 48 mill somewhere but I am probably wrong

[pete 2,499]

I think you may have miscalculated - 48m? We have about 42k season tickets sold, are you saying the average price is £1140 plus VAT? Ie about £1370?

 

I would imagine the income from that is nearer something like £15-17m. It's not that huge. Our other income is not that great yet as last season we had peanuts from TV, SPFL sponsorship, and prize money. Our merchandising income is also incredibly low. Next summer we will have a lot more income, although still nothing special.

 

Our recent total, annual revenue has been about £16-18m with expenditure about £10m above that - so it's no surprise that we are reluctant to pay for transfer fees - just where does the money come from when we're not even close to running the club withing its budget?

 

He really doesn't have our money, and he's having to use his own (and others) to balance the books - which right now is obviously about a £10m a year investment, hopefully reducing.

 

We're losing about £4m a year due to Ashley, so when you look at those numbers, it's very significant at this time.

 

Before attacking King for pulling the wool over our eyes, I think you have to have a good look at the financial numbers. I may have got it wrong myself, but if so, please show us the real figures.

 

If there was no money for players he should have said that and not telling everyone there was a sizeable transfer kitty. It is funny he is now changing his tune and putting any money back to January now that the season tickets have been sold. Warburton has said the January window is very difficult. The league could be well gone by January. I am not attacking him for not investing he has just not been honest in what he has been telling us.