Rangers Accounts 2020 and notice of AGM

[Frankie 8,570]

If @craig or @Bluedell fancy coming on the pod on Sunday for a short segment explaining the accounts you'd be made most welcome...

[DMAA 3,658]

The overall picture is very positive. Revenue has climbed steeply. Our operating losses per day are less than Celtic’s for the second year running (we just aren’t selling players). We more or less equalled Celtic’s match day revenue (£0.1m less).

 

Our expenditure is a little bit worrying though. If I’m reading it right our expenditure is only about £3.5m less than Celtic’s. I thought we were still significantly below their expenditure but it doesn’t appear we are. 

Edited November 21, 2020 by DMAA

[compo 7,052]

This will give all the Rangers haters a field day stand by for armageddon 

[Gonzo79 15,294]

32 minutes ago, DMAA said:

The overall picture is very positive. Revenue has climbed steeply. 

I'd say it's a bit concerning, particularly as revenue will have decreased considerably in the last few months.

 

We will have to start selling players either in January or next Summer, to get things back on an even keel.

[onevision 1,571]

The board may have budgeted in the sale of Morelos which didn't happen.

[der Berliner 3,747]

1 hour ago, compo said:

This will give all the Rangers haters a field day stand by for armageddon 

... if only they would give the Yahoo's accounts a similar minute attention.

 

As per usual, while this is "interesting", I leave the business stuff in the hands of the board (which is now no longer just in the hands of one person) and assume they know what they are doing. Let's hope we snatch 55 and navigate a passage to the CL-group stages, as that would essentially wipe out any financial difficulties for some time to come. Likewise, Alfredo's form of  late won't be missed by his former suitors, nor any new ones.

[DMAA 3,658]

2 hours ago, Gonzo79 said:

I'd say it's a bit concerning, particularly as revenue will have decreased considerably in the last few months.

 

We will have to start selling players either in January or next Summer, to get things back on an even keel.

As I say, I find the expenditure a little bit concerning. But overall I’m not concerned. The board chose to turn down a £10m bid for Kent and a £16m bid for Morelos, both in which I said at the time we should accept. They have also chosen to continue investing in things when they could have stopped, Edmiston House is one example. Stadium improvements continued too. Zungu was signed when we barely needed him. All of these decisions were taken by the board when the financial picture was clear. So although I don’t fully understand it all, I’m not too concerned because I think they are best placed to make those decisions. A significant player sale has to come soon though. 

[Bill 13,717]

4 hours ago, craig said:

Payable.  Receivable on termination of player registrations is just £1 million

However, although currently unquantifiable in terms of quantum or timing, the unseen element is the effective accrual of future profit from transfer income yet to be realised.

[craig 5,199]

4 hours ago, onevision said:

The board may have budgeted in the sale of Morelos which didn't happen.

I’d be astonished if that wasn’t the case.

 

And had we sold Morelos we would have broken even this year, or very close to it.  
 

 

[Frankie 8,570]

No doubt about it re Morelos. 

 

A risk but as long as we keep winning and have so many players helping their value then we have no worries.