Scott7 5,553 Posted October 30, 2016 Share Posted October 30, 2016 Whatever the advances of money may be, they are not handouts. 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted October 30, 2016 Share Posted October 30, 2016 Whatever the advances of money may be, they are not handouts. I was thinking the same thing - are they not in fact interest free loans that are to be paid back in just over a year's time? 0 Quote Link to post Share on other sites More sharing options...
JFK-1 1,690 Posted October 30, 2016 Share Posted October 30, 2016 It would have been too easy to say that Rangers have done well to half their losses in a year, with more improvements to come as half of those figures are based on Championship participation. Nah, let's just completely focus on the perceived negatives. They simply want to maintain the narrative that meltdown is just around the corner. That's absurd but it filters down to the grunt element and you will see it on the forums of the obsessed every time we make a signing. Somehow a club with 40K season ticket holders can't afford to sign anybody. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted October 30, 2016 Share Posted October 30, 2016 I was thinking the same thing - are they not in fact interest free loans that are to be paid back in just over a year's time? My thinking is, the money will be converted into shares next time they're diluted. 0 Quote Link to post Share on other sites More sharing options...
Barebear 37 Posted October 30, 2016 Share Posted October 30, 2016 How many teams run at a loss with no apparent plan of changing that model? http://www.totalsportek.com/football/clubs-with-the-most-debt/ At least we are moving in the right direction. Who is Michael Gannon? (Rhetorical question) 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,453 Posted October 30, 2016 Share Posted October 30, 2016 That's a balanced article isn't it? Now, compare and contrast our neighbours from the east (wonder how Gannon's report on that looked like): Celtic reveal return to profit with annual figures Celtic have announced a profit of £500,000 for the financial year ending on 30 June, compared with a loss of nearly £4m in the previous 12 months. Player sales rose from nearly £7m to £12.6m, thanks to Virgil van Dijk's move to Southampton. Revenue rose 2% to £52m, while operating expenses were up 7% to £57m. Chief executive Pater Lawwell stressed the "paramount importance" of reaching the Champions League group stage after missing out in the last two years. Celtic won a fifth consecutive league title last season but did not reach the final of either domestic cup and exited the Europa League without winning a group match. 'Top of the game' Apart from the sale of players, the loss on operations rose from £2.2m to £5.1m. Much of this was explained by the cost of football and stadium operations going up from £44m to £47m, while income in that category fell from £28m to £25.1m. The surplus from merchandising, such as replica shirts, changed little at £4.7m, though on higher revenue of £12.5m. The surplus from multimedia and other commercial activities was £3m higher than in the 2014-15 accounts, at £12.1m. Chairman Ian Bankier, commented: "Following two seasons in which the club did not qualify for the Group Stages of the UEFA Champions League, the increased contribution from player trading enabled the company to maintain investment in football operations and to continue to build for the future. "The board continues to believe that the company's self sustaining financial model provides the necessary stability to preserve the long term future of the Club and player trading remains an important element of that model". Peter Lawwell, the chief executive, said: "For a club like Celtic, operating in a market where television values have fallen significantly behind our neighbours across Europe, qualification for the group stages of the UEFA Champions League is of paramount importance. "The financial rewards allow for investment in the playing squad and physical assets, but moreover, the prestige of participating in the premier club competition in the world reinforces the reach and importance of the club to so many people around the world. He added: "Fundamentally, Celtic is a Champions League club; our infrastructure and continued investment reflect that. At a time when the direction of travel in European football is towards elite level clubs, we must remain at the forefront of developments in the game domestically and across Europe. "Celtic should be at the top of the game in Europe and the board and I have that objective as a priority. We continue to work tirelessly on seeking to improve the football environment in which the club operates." That is understood to refer to developing ideas for a league structure that would allow Celtic to get more experience of competing with similar clubs outside Scotland, which play in other national leagues with less resource than the major European clubs. http://www.bbc.com/sport/football/37411556 Maybe I am utterly mistaken, but if not for lucrative (some may say ridiculous) player sales or 10m+ from the CL, their finances would plummed to the dark red figures. They gained quite a bit of our disappearance from the table, but you would have to ask where they are realistically ... or would have been had we remained seated next to them. Our journey became an excercise of survival for them. Wonder how and whether that 30m loan from the Coop (Sp?) bank will be dealt with ... 0 Quote Link to post Share on other sites More sharing options...
StuGers 477 Posted October 30, 2016 Share Posted October 30, 2016 That's a balanced article isn't it? Now, compare and contrast our neighbours from the east (wonder how Gannon's report on that looked like): http://www.bbc.com/sport/football/37411556 Maybe I am utterly mistaken, but if not for lucrative (some may say ridiculous) player sales or 10m+ from the CL, their finances would plummed to the dark red figures. They gained quite a bit of our disappearance from the table, but you would have to ask where they are realistically ... or would have been had we remained seated next to them. Our journey became an excercise of survival for them. Wonder how and whether that 30m loan from the Coop (Sp?) bank will be dealt with ... The loans not a problem now - the GCC gifted them some land to cover it. https://footballtaxhavens.wordpress.com/tag/glasgow-city-council/ 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,453 Posted October 30, 2016 Share Posted October 30, 2016 The loans not a problem now - the GCC gifted them some land to cover it. https://footballtaxhavens.wordpress.com/tag/glasgow-city-council/ Methinks the loan has a payback date that is in the not too distant future? 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,398 Posted October 30, 2016 Share Posted October 30, 2016 I don't believe some of the transfer fees they claim to have received. Did anyone seriously believe Van Dijk's value quadrupled after two years in the top division without Rangers? And after several hammerings in Europe? 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.