08 Aug 2013 22:13:01
From tonight's Q&A

bonuses of 3. 2M paid for winning the 4th tier of the worst league in europe - more bonuses to come with each division won

Will take a board meeting to decide if Charles should be let go, do they not have a HR dept, a whole board meeting over one employee? No wonder it's going to the dogs.

How is that level of spend sustainable with only 10M left in the account - 2 years season ticket money, IPO cash, Blackthorn and Puma deals

Not looking good for the shareholders/unsecured creditors.
Reports from the rangers standard saying that the CEO confirms that only 10M of the IPO and season ticket money (34,000) 22M and 8M respectively

This should be of major concern to investors - a burn of 20M in less than a year!
From LSE share chat site.

Paddy Malarkey

1.) 09 Aug 2013
The Policy has been buy Ally success at any cost. Lunacy.
£10m left is a verbal statement. Who knows if its true could be smoke up the backside.
Need signed off official accounts.
They are just keeping it going to share lock-in ends 31 dec then sell shares of a basket case with no method of paying owed salaries. Club needs £22m to end of season. First league game not played yet. How can £3. 2n bonuses be paid from that plus basic salaries £500k Mathers, Stockbridge, Jadda, green, Ally, Durrant, McDowell, there's £3m alone.

2.) 09 Aug 2013
Going by these figures that 10 million that's left will only last another 5 months before we are at a stage of administration again-So around christmas we are in serious trouble again. don't know what my fellow gers think about this. i'm personally disgusted about this poor management. Why are we going out spending money on daly etc when its plainly obvious that we can't afford it. I have a real fear we are going down the tubes again.

3.) 09 Aug 2013
10% of Club turnover paid in bonuses is madness (bearing in mind D3 prize money was £43,000!).

A finance director who received a bonus for the team being promoted rather than club financial improvement (?"$)

4.) 09 Aug 2013
What about gate money? 150-200k per home match 10 home matches between now and Xmas is 1. 5 - 2 m surely that will help?

5.) 09 Aug 2013
Spot on well be in the myre by jan 2014, gers fans must revolt to save our club did anyone ask ally what he has taken from the club since the takeover I don't want him to workfor nowt but 2nd division surely £3,000 is way more than adiquate and I know many lwill think too much but it is a big job andvsurely only players should get bonuses until were back in top league, CG is one sneaky f@kker but he has a few more inside our club aswell?

6.) 09 Aug 2013
You have to bear in mind as well that £10m left includes this years season ticket revenue as well, approx £9.5m, so we were pretty much skint before that cash came in!

There is no way we should be paying anyone £500k bonus in the current climate!

Jason

7.) 09 Aug 2013
Any match day revenue goes to green and Stockbridge because they split into sub company's also spending 23 mill to win the 3rd div is not buying success it is a effing joke 23 mil in 8 month there will be teams in the english championship that couldn't spend that in a year I think duff&phelps are on their way back to rangers

8.) 09 Aug 2013
I was just about to mention the 2 mill per season from additional gate money + catering + executive Box sales + hospitality + shirt sales + TV monies etc; But then again what do I know about business?

Ozzie Al

9.) 09 Aug 2013
£1.5m of the £10m is the Sports Direct money according to Stockbridge last night. Puma haven't paid anything into the pot yet though.

10.) 09 Aug 2013
09 Aug 2013 13:32:59
Hope not d&p helped create this mess we r in, unprofessionalfu#$s that they r. They should never be allowed near a football club again. Board need removed, king mccoll Murray etc know what they want we should trust what they r doing WATP

11.) 09 Aug 2013
I think we are in serious trouble. The high salaries have to go NOW!

12.) 09 Aug 2013
This time (if there is one) RFC won't be able to choose the admin company, it will be chosen for them given the short trading period they have

13.) 09 Aug 2013
Rangers were losing 1.5 mill a month last season, and have now signed 8 players on high wages, so that fee will be closer to 2 mill a month
they need to sell players and get the high wage earners off the books, the 10 mill left in the bank will be gone by january and there are various independant financial experts, saying very much the same, still even if they do go into administration again, a 15 pt penalty will not stop them being promoted as they should have a 15 pt lead by xmas, but worrying times again

14.) 09 Aug 2013
Fellow bears, can someone tell me where all these numbers are coming from? Is there an official statement quoting how much we had/have left/owe?

I'm a fairly educated guy but could never profess to be an accountancy expert although many on here do just that.

I'm not saying the figures are wrong, I would just like to see them for myself and make my own mind up. I would guess if all these figures were accurate it would be plastered over every newspaper in the land.

Overdose15

15.) 10 Aug 2013
09 Aug 2013 23:46:34
Does anybody know if the correct amounts of tax has been paid to the relevant bodys this time, we need to see properly audited accounts so we can be sure were not going down the same direction as Craig Whyte took us.

16.) 10 Aug 2013
Are you kidding its the investors that have the money

17.) 10 Aug 2013
@ overdose, the figure og circa £10m came out at the meeting the other night by rangers accountant, the bonus's are documented in some, but not all papers so I won't hold my breath on them, the state of the accounts will be there for all to see on the 18th Sept. at the latest. let's hope its not too dire

18.) 10 Aug 2013
We are losing 400k a month over the closed season, this should resolve its self now that we have match day revenues coming in. remember the club earns nothing when we don't play any games! that said we still need to know what's happened to the rest of the cash