RIFC Annual Results

[Bluedell 5,624]

10 minutes ago, compo said:

Whatever way you look at it back to front upside down it's still 11 million of a loss and this is  not good 

It's actually not an £11m loss. Watch this space..... ?

[Rousseau 10,607]

 

[buster. 5,186]

On 04/11/2019 at 14:10, JohnMc said:

Have to say I expected there to be more chat about this thread. While I accept the board have the club's best interests at heart and are very different from past boards an £11 million pound loss is somewhat worrying. Without wishing to sound morbid what happens to Rangers if something happens to Dave King? King is in his mid 60s, that's not 'old' by today's standards, but it's not young either. 

I'm grateful for the money the directors have put in and continue to invest, but that's surely not sustainable for much longer. I'd like to know what the plan is for the short to medium term though. I assume it's 'sell players', which is fair enough but has proved harder than it sounds so far. I'd be very concerned if our plan for profitability is based on qualifying for the Champion's League. 

I'd also be interested to hear the current board's exit plan. What's the long term plan for the club? An open share issue? Private sale of shares to other high-wealth individuals? New investors? 

While we're all enjoying having a high profile manager again and playing some decent football while challenging properly for honours I'm nervous about what's next. What happens if we don't win the league this season, do we twist and gamble again next year or sell our best player(s) and balance the books? We all want to stop Celtic winning 10 in a row, but we also want a club for the long term.  

I think the risk regards our finances is being generally understated by our support and overstated by others, which is predictable.

 

Partisan viewpoints are of limited value when it's objectivity that is really needed.

 

 

 

[JFK-1 1,693]

As far as i'm aware this result is no more or less than King predicted when he first took over. He said that at least £30 million would need to be put in and maybe up to £50 million and that appears to be what's happening.

So since this is what he planned all along can't we presume he knows exactly what he is doing? And further to my knowledge any debts are soft debts with money owed to no one but directors who aren't going to be trying to call that in.

And i'm no financial expert but those I have spoken to who do have some modicum of expertise have told me that this simply is a typical planned business strategy. The shortfall is less than last time while income has increased since last time.

And even in a worst case scenario it's no armageddon in any sense despite the fantasies of the crazies. At some point we have to sell players of high value but so does everyone else in Scotland including the yahoos as they frequently do. We will too but just not yet.

No one thinks the board are anything but fans just like us who aren't going to leave us in the lurch. So at the end of the day i'm told it's nothing to get in a panic about. It's simply the plan King laid out 4 years ago unfolding. 

[ranger_syntax 4,321]

On 05/11/2019 at 08:54, BEARGER said:

I assume it’s my post you’re talking about? I’ve never heard of the guy, just saw the article online. 

Why not take a little time to look into it before promoting someone's work?

[BEARGER 1,830]

 

 

POLL RESULT: RIFC AGM 2019 Dear Member, Over the past week, Club 1872 members voted on the resolutions for the RIFC AGM 2019. The results are as follows. 1. To approve the Company’s audited Financial Statements, the Director’s Report, Strategic Report for the financial year ended 30th June 2019 Auditors report to be received and adopted. For – 98.4% Against – 0.1% Abstain – 1.5% 2. To reappoint Graeme Park as a Director of the Company. For – 97.5% Against – 1.1% Abstain – 1.4% 3. To reappoint John Bennett as a Director of the Company. For – 97.8% Against – 0.5% Abstain – 1.7% 4. To reappoint Alastair Johnston as a Director of the Company. For – 98% Against – 0.8% Abstain – 1.2% 5. To reappoint Campbell Dallas as the Auditors of the Company to hold office until the conclusion of the next AGM. For – 98% Against – 0.1% Abstain – 1.9% 6. To authorise the Directors to determine the remuneration of its Auditors. For – 98.3% Against – 0.6% Abstain – 1.1% 7. To authorise the Directors to allot equity securities on the basis set out in the Notice. For – 97.4% Against – 0.6% Abstain – 2% 8. To authorise the Directors to dis-apply pre-emption rights in respect of relevant securities allotted pursuant to Resolution 7 on the basis set out in the Notice. For – 95.1% Against – 0.5% Abstain – 4.4% All the shares held by Club 1872 Shares CIC and Club 1872 Projects CIC will now be voted in accordance with members' wishes. We would like to take this opportunity to thank all our members for their ongoing support.  Club 1872