pete 2,499 Posted March 16, 2008 Share Posted March 16, 2008 We all know David Murray wants out. 9million for Hutton. 5-8 million for our euro run If we win the league a guaranteed CL treasure chest next year. Sale of Cousin 3 million. He can almost write off most of our 30 million debt. Could there be a better time to get out? Will he? 0 Quote Link to post Share on other sites More sharing options...
Gazza_8 233 Posted March 16, 2008 Share Posted March 16, 2008 He can only "get out" if there's a buyer and I don't think there is right now. That could change if we win a few trophies this season though. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,623 Posted March 16, 2008 Share Posted March 16, 2008 The cash from Europe will be used to pay our costs this year. The Hutton cash will be used to fund the spending from the summer (Carlos, Whittaker, Naismith, Cousin, McCulloch). Next year's CL run would be used to pay next year's expenses. I doubt we will sell Cousin for �£3m, and if we do we will need it for a replacement. Bottom line is that the debt will not be reduced much from what it was at the start of the year. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,623 Posted March 16, 2008 Share Posted March 16, 2008 He can only "get out" if there's a buyer and I don't think there is right now. That could change if we win a few trophies this season though. I don't see why us winning a few trophies would make a buyer appear any quicker. We're probably stuck with Murray for a while longer. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted March 17, 2008 Author Share Posted March 17, 2008 The cash from Europe will be used to pay our costs this year. The Hutton cash will be used to fund the spending from the summer (Carlos, Whittaker, Naismith, Cousin, McCulloch). Next year's CL run would be used to pay next year's expenses. I doubt we will sell Cousin for �£3m, and if we do we will need it for a replacement. Bottom line is that the debt will not be reduced much from what it was at the start of the year. I would have thought the purchase of the players you mentioned was included in the so called 30 mill debt or is that then nearing 40mill? We also made a profit of 3 mill last year which must have cut the debt slightly. As far as i have been reading Cousin has a 3mill ceiling on his selling price and has shown he is desperate to join the EPL, at no matter what level. My point was if he does not bring in any new players then the money coming in will go a long way to bringing the debt down to a single figure debt which is not bad for such a big football club. With the Yank banks in trouble it will possibly put anyone off such an investment now, but my point was if he wants out he may not get a better chance in balancing the books than now. The only trophy that may make a difference in attracting a buyer is the UEFA, given the financial gain in winning it. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,623 Posted March 17, 2008 Share Posted March 17, 2008 Pete, I'm not sure where you get the figure of �£30m debt from. The net debt last June was �£16.5m. The half year accounts didn't mention the amount of debt, but it could well be towards the figure you mention, although I haven't seen anyone speculate as to what it was. We made a loss of over �£6m last year (the year to 30/6/07). We did make a profit of �£2.3m in the 6 months to 31/12/07, but that is a timing thing. The second six months are always far worse than the first 6 months, and we will make a loss in the 6 months to 30/6/08, excluding the Hutton transfer. My view on Cousin is that he will be 6 months older and he/we may not find a club that will be willing to pay the �£3m for him. I may be wrong, but I think we may struggle to get the full amount. As I said, I doubt that the debt will be that much better than it was at 30/6/07. Saying that, Murray authorised spending of over �£10m, but whether that was a one-off and whether it was because they believed that they could get good cash from Hutton, who knows. It would be great to get the debt down to single figures, but I doubt that we will get there unless we reach the UEFA final. Even with that I don't see many buyres appearing. The a bigger issue than what Rangers financial position is at the time of buying is the underlying financial problems in Scottish football and that is what will put people off. Just look at the loss of �£6m last year. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted March 17, 2008 Share Posted March 17, 2008 There's not many people around willing to risk their millions in a club like Rangers in a league with far less earning potential than the likes of the Premiership. You'd expect a new owner to want the same income from the catering, the ticketing and the car parking that Murray makes, but I'll bet they are not part of the sale. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,623 Posted March 17, 2008 Share Posted March 17, 2008 There's not many people around willing to risk their millions in a club like Rangers in a league with far less earning potential than the likes of the Premiership. You'd expect a new owner to want the same income from the catering, the ticketing and the car parking that Murray makes, but I'll bet they are not part of the sale. As far as I am aware Murray makes nothing from the catering. Azure was sold and didn't make any money anyway. The catering contract would be up for review at some point and presumably the new owner would want to put it out to tender. Fair point about the car park. You would need to add Edmiston House to that. It would be interesting to see if they are included in any sale. I also suspect that Murray Park's ownership may be negotiable. 0 Quote Link to post Share on other sites More sharing options...
juffery 0 Posted March 17, 2008 Share Posted March 17, 2008 The problem is getting someone willing to invest in Scottish football. It's a laughable product, dominated by 2 clubs who are never going to be able to attract the right players, money or not to become regulars in the Champions league last 4 or 8. That's where people want to put their money these days. 0 Quote Link to post Share on other sites More sharing options...
johnnyk 158 Posted March 17, 2008 Share Posted March 17, 2008 The problem is getting someone willing to invest in Scottish football. It's a laughable product, dominated by 2 clubs who are never going to be able to attract the right players, money or not to become regulars in the Champions league last 4 or 8. That's where people want to put their money these days. I agree it's totally laughable and the situation with Gretna and Motherwell proves that, it's a joke.......... 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.