Rangers Annual Report released (Accounts and AGM date)

[Graham 24]

29 minutes ago, Bluedell said:

In respect of the deal, I guess it could be backloaded, with any overrides based on turnover being cumulative to try and prevent us from bailing on the deal early. I doubt that they are not meeting what was contractually agreed in regards to payments.

Yes but surely the payments would be accrued into the period to which the sales relate. I dont doubt that they are fulfilling their contract but they made a point of speaking to the fans about the deal through podcasts. In the one I listened to (can't remember which) they said £4m was a minimum annually and that it could rise up to as high as £8m depending on sales. That seems like a lie as revenue is only £4.3m and sales must have been higher than normal due to 55.

[stewarty 2,027]

1 hour ago, Graham said:

Yes but surely the payments would be accrued into the period to which the sales relate. I dont doubt that they are fulfilling their contract but they made a point of speaking to the fans about the deal through podcasts. In the one I listened to (can't remember which) they said £4m was a minimum annually and that it could rise up to as high as £8m depending on sales. That seems like a lie as revenue is only £4.3m and sales must have been higher than normal due to 55.

Had we been managing our retail operation "in house", then all of the revenue and all of the costs would be coming through our accounts.   Its hard to say how much that would amount to. 

 

I too heard some of the higher numbers bandied around by the Beahon brothers on podcasts, but we also heard from the club that the structure of the deal was unique compared to anything we have had in the past, with an ability to generate bonus payments depending on sales.  But I think you could easily be talking that the total revenue via Castore could be 4-5 times that £4.3m.

 

I think when it comes to Castore, the number appears a little underwhelming right now, but it may take a year or two for the full benefits to flush through and for the numbers to normalise.  Only then can we properly judge whether its been a success.

[compo 7,048]

A few weeks back we were in Glasgow and visiting the club shop at Ibrox I was very disappointed plenty of kits ho.e and away plus the one for our 150th anniversary but not much more no leisure stuff and very little stuff for children and what they had was disappointing, needs to improve with Christmas on the horizon 

[Bluedell 5,627]

On 10/11/2021 at 16:01, Graham said:

Yes but surely the payments would be accrued into the period to which the sales relate. I dont doubt that they are fulfilling their contract but they made a point of speaking to the fans about the deal through podcasts. In the one I listened to (can't remember which) they said £4m was a minimum annually and that it could rise up to as high as £8m depending on sales. That seems like a lie as revenue is only £4.3m and sales must have been higher than normal due to 55.

If there are overrides based on future cumulative sales then payments wouldn't be accrued. 
 

I've become sceptical about payments above the minimum when we didn't get anything extra from the JJB deal in 2008 when we reached Manchester. 

 

I didn't hear the podcast so I didn't have any expectation as to what the figure would have been but would have been shocked if it was as high as £8m.