Annual results / AGM 27th November

[buster. 5,196]

14 minutes ago, craig said:

Are you sure it's only double the wages ?  I could have sworn I read somewhere their wages were over 50 million whilst ours were 21 million in the latest accounts.

Can't remember the exact figures but it was about double.

Now that you say it, iay have been a tad more.

[26th of foot 6,082]

Last week, ra Sellik revealed their wage bill to be several hundred thousand pounds short of £60 million. 

 

Going across both broadcast and print media today, the number of feelgood articles involving ra Sellik and articles of moral concern running interference of the Torbett verdict, is quite remarkable.

 

BBC Scotland's newly appointed Sports News Correspondent, Chris McLaughlin has presented a piece on gambling sponsorship in Scottish football.

 

Stacey Mullen headlines in the Evening Times on the proposed Mass at St Mary's in the Calton, to mark the 131st anniversary of the founding of ra Sellik.

 

Chris Doyle contacts Kieran Maguire to put a wonderful spin on ra Sellik's financial strength.

 

Ewing Grahame wheels out David Low in the Scottish Sun. The man who advised Fergus McCann warns Rangers, 'careful now'! Apparently, our obsession with preventing Sellik's ten-in-a-row, will see us going burst, AGAIN!

[RANGERRAB 3,674]

The yahoos accounts showed a wage bill of £60m & operating costs of £87m. 

Totally unsustainable without CL income I’d suggest.

Maybe that’s why they sold their best player before the transfer window closed 

[917 191]

On 02/11/2018 at 21:09, forlanssister said:

Players we paid money for turning out to be duds.

Ah well, at least we’ll never have to worry about that ever happening again..

[buster. 5,196]

On 01/11/2018 at 09:44, Frankie said:

Would be smashing to have a main site analysis of this by one of our in-house experts...

Looks like they are busy.

 

When the numbers first came out, I said that to continue in the same vein wasn't sustainable unless the football operation, both first team and other performed at a high level.

 

Since that point we've seen most of our support with a 'No problems here' view that echo the chairman's words and the predictable 'Armageddon' view from the other side of Glasgow.

 

What happens if we don't qualify for European group stages or win the league in the next three seasons and the SG era comes to a premature end ?

 

[Frankie 8,562]

Can't answer all the questions but worth checking out this thread:

 

 

There's a few inaccurate comments in the analysis (not done by anyone remotely friendly to Rangers) but we ignore the conclusions at our peril.

 

Income from selling at least one but probably two of Morelos, Tav and Goldson as well as the two share issues will be key to our financial performance over the next few years.  On the pitch, we have to find success and off it, we need to make ground on the commercial side (though the retail stuff continues to hamstring us).

 

The last six years have been tough - the next six won't be any easier.

[buster. 5,196]

9 minutes ago, Frankie said:

Can't answer all the questions but worth checking out this thread:

 

 

There's a few inaccurate comments in the analysis (not done by anyone remotely friendly to Rangers) but we ignore the conclusions at our peril.

 

Income from selling at least one but probably two of Morelos, Tav and Goldson as well as the two share issues will be key to our financial performance over the next few years.  On the pitch, we have to find success and off it, we need to make ground on the commercial side (though the retail stuff continues to hamstring us).

 

The last six years have been tough - the next six won't be any easier.

I think we are at a point where we simply have to succeed, ie. the SG&Co era has to be successful, ie. stop 10IAR and professionalise our football operation to the point where it can generate money instead of sucking it in.

On the plus side, I think they will if given time.

 

Next three years

European group stage football won't happen every year.

We could sell players but they'd be our better players at a time when onfield we need to match and surpass a team with a wage budget much higher than our own.

We have directors/investors who have been and have said they still prepared to fund any losses. 

Pending Share issue

Mgmt team performance

 

My very cursory, undetailed and laymans view is that huge efforts/sacrifices are going to be made in the next three years but if they don't suceed, we could be in a very bad place. Whilst I think SG&Co can turn our fortunes around, our main rivals are in a financial state that gives them a decided edge and hence the financial plans have to contemplate that.

 

 

[der Berliner 3,744]

I would suggest that no Bear actually says "No problems here". Many have no real insight in these matters, most will assume that King & Co. can handle it or will know how to do it, and many won't want to fall for media-spin on certain aspects of the report - usually taken out of context or indeed are not given in full. Regarding the latter, it is striking that similar media analysis is hard to come by when it concerns their results.

Edited November 6, 2018 by der Berliner

[Gaffer 1,665]

1 hour ago, buster. said:

I think we are at a point where we simply have to succeed, ie. the SG&Co era has to be successful, ie. stop 10IAR and professionalise our football operation to the point where it can generate money instead of sucking it in.

On the plus side, I think they will if given time.

 

Next three years

European group stage football won't happen every year.

We could sell players but they'd be our better players at a time when onfield we need to match and surpass a team with a wage budget much higher than our own.

We have directors/investors who have been and have said they still prepared to fund any losses. 

Pending Share issue

Mgmt team performance

 

My very cursory, undetailed and laymans view is that huge efforts/sacrifices are going to be made in the next three years but if they don't suceed, we could be in a very bad place. Whilst I think SG&Co can turn our fortunes around, our main rivals are in a financial state that gives them a decided edge and hence the financial plans have to contemplate that.

 

 

I agree with most of that, but Celtic's financial health is far more precarious/serious than is being discussed or acknowledged.  It really is crunch time for both clubs at the moment.  The current levels of availabl funding in our game cannot sustain two clubs competing seriously in Europe.  Either both clubs have to agree to accept a minor role in European competitions, or fight til the death of one of us.  Given that the clubs no longer have that desire to work together (as we did throughout most of the 20th century), I fear we are in a race to the death.  At the moment, Rangers can convert the debt to equity and achieve a sustainable businessman model by reducing costs. We won't accept that as fans so there's little or no chance of that happening, despite it being my preference.  Celtic on the other hand have almost bet the future of their business on them achieving regular European funds.  They failed this year and this will impact them.  If they'd fail next year it will be very severe.  I suspect King and the board recognises that and are waiting to pounce.  It's all very risky though.

[buster. 5,196]

4 minutes ago, Gaffer said:

I agree with most of that, but Celtic's financial health is far more precarious/serious than is being discussed or acknowledged.  It really is crunch time for both clubs at the moment.  The current levels of availabl funding in our game cannot sustain two clubs competing seriously in Europe.  Either both clubs have to agree to accept a minor role in European competitions, or fight til the death of one of us.  Given that the clubs no longer have that desire to work together (as we did throughout most of the 20th century), I fear we are in a race to the death.  At the moment, Rangers can convert the debt to equity and achieve a sustainable businessman model by reducing costs. We won't accept that as fans so there's little or no chance of that happening, despite it being my preference.  Celtic on the other hand have almost bet the future of their business on them achieving regular European funds.  They failed this year and this will impact them.  If they'd fail next year it will be very severe.  I suspect King and the board recognises that and are waiting to pounce.  It's all very risky though.

Unless a favourable restructuring of the game and it's revenues take place, the OF will both probably become further diluted in terms of European football relevance/revenue. What I think Lawwell has been angling for these past few years, is to lobby for a place as near to the top table as possible for his club when any changes were to take place in the European competition structure.

He'll be laughed at when it comes to top table and who knows how the rest would be structured in such a change.

 

On the face of it, I don't think Celtic are currently anywhere near to being in a precarious position.

They failed re. CL but have EL money + Dembele sale + seem to have lowered the wage bill + have squad depth to win league/sell if they need to.... The other thing is aslong as they keep winning title, they have two stabs at European group stages.

 

IMO to start turning things around, we really need to beat the odds and win the title by 20/21 then qualify for CL group stages.

Then build on that...........