Rangers Finances

 

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17 May 2020 14:19:39
Isle of Mull, this new deal with Castore could be a disaster eh? No mention of how much we're getting up front or per unit. And with new commercial deals and investors standing by, and the board improving from a corporate governance improving, its not looking good. Can you add any more to this so we can all come back down to earth?

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17 May 2020 14:32:16
Yes I agree with most of it but what does this mean mate

and the board improving from a corporate governance improving,

17 May 2020 15:03:26
Meaning that corporate governance is improving. The work commercially by JB and his expanded team, looking at an increased digital and online footprint and global distribution networks in over 60 countries. The fact that this has been approved by board, due diligence has been completed, and long term planning being implemented. The additional ‘improving’ is a typo. Also with the increasingly accurate 4LadsHadADream receiving the official Castore video direct and reporting a £25m deal, that seems good, but surely it can’t be. Just thought you’d know as you’ve been spot on with everything else.

17 May 2020 17:03:33
Copied this from a post from bellshillad ( hope you don’t mind my friend ) mainly it’s for mull to read incase he missed . as he spends most of his time worrying himself into a bad place about our finances . Hopefully this might help you get a decent nights sleep mull 👍

Bellshillad
As for we have no money that couldn't be further from the truth we are in a good financial place all things considered. We own 100% of all assets, we have no debt, we have a new kit deal worth a decent amount, we have had good early ST sales so far not the level of last season but above the virus expectations. We have a planned internal share issue which from what I hear we could double the amount of shares offered and still have waiting list and finally there is a new investor in place just waiting for all the virus stuff to calm down do that can be completed. Look for us to start bringing in younger players with big potential with view to buy cheap and early develop and sell at decent profits. I reckon we are doing better than most.

17 May 2020 20:34:39
Molsgoals, I do hope this all works out with Castore. Remember just 4 short months ago SGL had us getting new balance, under armour, Mr Bisgrove flying to America on several occasions for talks with these multi national companies.

Even a guy in the know like yourself could never have heard of castore. Surely you remember 3 short months ago we were advertising for a kit manufacturer/ retail partnership. Do hope it works out but if anybody thinks this was in the long term planning think again.

17 May 2020 22:25:35
These things can move quickly. Bisgrove is an accomplished operator and I’m very impressed with what I’m seeing so far. Let’s go mad and be a wee bit pleased for once. I’m up for that.

18 May 2020 00:01:57
I am certainly not in the know under any circumstances mull but even if this was not long term planning dies that really matter?
Also heard we are spending 250k on shop at Ibrox . It’s all good me thinks .
You had us sunk three times over last year mull, from Dave king getting the jail to Ashley ( thru the courts ) taking every penny and asset we have .
None of that looks like it’s happening mull so rest easy . You can stop worrying for a few weeks at least.

18 May 2020 07:22:12
Iom because u have not heard of Castore does not mean many others have not. I have several of their golf tops.

18 May 2020 07:23:53
Molsgoals mull must be a Mecca for getting rangers financial info
This is a rumour site so sgl guesses re strips is how it is.

19 May 2020 11:49:06
Yes I agree it's a rumour site. John let's be honest here, why did JB fly to America to meet with new balance, Nike, under armour on several occasions according to SGL then come back here and advertised on social media for a kit manufacturer/ retail partnership? .

M/ G do you think this is the last we will hear of Ashley? Remember john25 posted lots of court documents on here about us taking SD to court. What about the monies owed by Hummel more court proceedings?

Finally if we were in such a good state financially why offer our supporters a £25 voucher instead of a full refund like partick and Hamilton?

19 May 2020 12:04:52
Wow mull you really do try hard.

19 May 2020 12:37:44
Mull, it’s the terms and conditions of the season ticket so we were never entitled to a refund. If you paid more attention to supporting you’d have known that.

What started as some light hearted banter has actually confirmed that you have some sort of manic depressive state about all things Rangers. Never a post anywhere else on the pages about anything positive and never a positive, upbeat to say. You’ve become a broken record with all doom and gloom. And before you hit out with the heads in the sand, it’s not, it’s just as most see it. crack a light. You seem gutted with any bit of good news or opportunity. Every silver lining has a cloud and all that.

As for SGL reporting what James Bisgrove is doing, that is also fantasy but at least it’s cheerful.

Please cheer up and maybe come along to a game sometime.

19 May 2020 13:16:46
Spot on Ibrox . I dread to think what it would be like if there was bad news imminent lol.

19 May 2020 14:36:04
Not meaning to be unpleasant and we don’t need to always agree but we’re all supposed to be Rangers fans. Not everything is doom and gloom so let’s try and reflect that.

19 May 2020 14:37:19
Ibrox4me u need to remember iom admits he is a fan and not a supporter of the Gers
He obviously takes everything SGL says as gospel.

He does not really understand in corporate business u do advertise for expression of interest in services you want.
Ie strip manufacturer.

19 May 2020 18:45:15
Spot on John. This is close to what I do for a living and you’re right on the money. Maybe he/ she will buy a Castore Keyring and get it posted to Mull and do their bit 😜.

19 May 2020 19:46:55
Q1 John did man utd, Liverpool, and the likes advertised for a kit manufacturer/ retail partnership on social media?

Q2 John is advertising on social media after talking to all the big players in sportswear (then getting a deal with a company 90% of fans have never head of) good corporate business.

Q3 season ticket £25 voucher refund (at least 4 games including a old firm) probably the best part of £130. The voucher is very disappointing, why not a discount on this season book.

Q4 again finance the £10m Black hole filled according to DP, what about amortisation (transfer fees paid of the life of the contract) over £6m due in the summer in our accounts.

Q5 Ashley he might be gone but we still have numerous court cases, and a pending financial penalty awarded against us awaiting a law lord rule of money due to Ashley.

19 May 2020 22:39:11
I give up. You’re the most pessimistic dog with a bone I’ve ever read. You come across as intelligent but asking questions isn’t particularly clever if you can’t offer an answer.

Why don’t you do what the rest of us did, buy some tickets, buy some shares, go the AGM and ask your questions. I doubt you are a fan or supporter by even considering asking for a refund. And you can get a £25 discount on MyGers which as you’ll know covers the old travel club fee etc. I’ll take my lead from Mr Park and Mr Bisgrove et al.

19 May 2020 22:43:40
And for the record, and I’ll not respond to your further ramblings, Questions 1-3 are irrelevant now. Q4 has been partially addressed by Mr Park who is a very well respected business particularly for his due diligence. As a club, we’ve been very clear about a clean slate but don’t let that get in the way of your negativity and gloom. That truth will out soon enough. As a club and support, we don’t need people like you giving out the constant negative sh*te. It’s tiresome and I think you just want to annoy. Kinda sad.

20 May 2020 08:17:22
Well said Ibrox.
I offered to take this man to corporate. Have him picked up in mull and returned.
A night I. one Devonshire. He declined. Strange.
All at my cost.

20 May 2020 08:27:41
Spot on obrox4Me, over the past 8-9 years, we as a Club, have had to put up with total negativity from the rest of Scottish Football and the Media. Just look at the remedial work completed on our Training Centre and Ibrox Stadium for starters, you can't do those things with no money. Rangers are a massive institution IOM, and we will now go from strength to strength following the removal of Ashley from the background, this will be a huge money earning venture in my opinion.

In conclusion, positivity from now on please, we have had enough doomsday soothsayers to last a lifetime.

20 May 2020 08:38:02
4lads just released blog interview with co owner of Castore which goes into a little detail on the deal, 3m per year guaranteed to rangers, realistic targets can be met if partnership goes well of taking it up to 5m per year, and ultimately aiming for 90’s sales of 7/ 8/ 9m per year in future seasons if all goes well. Rangers have no contractual obligation to purchase so many strips as a minimum like they would with Nike etc so that both parties will work as hard as each other to both be successful together.

20 May 2020 10:54:08
It’s a shame IOM does not provide a more balanced approach to expressing his views compared to the provocative approach he takes as he would likely get some support on here. Others have said it before but I am not convinced he is either a supporter or even a fan and quite simply prodding for a reaction.

20 May 2020 12:31:14
I'm the ying to the 85%-95% yang
Alway need both side of argument guys. Mr King came in with complete transparency line and keep us even more in the dark. We have by far the second biggest wage bill in the country (before you say but their is much bigger, they have a buffer of £30plus million in the bank) with only some season book money coming in. If this lockout of fans continues into September/ October how many clubs will survive? . Most of the bottom clubs live hand to mouth, it's the middle premier clubs that are at risk. If any fan can't see we are in a fight for survival open your eyes. We have no fall back money in the bank, money owed to other clubs (amortisation) awaiting court/ law Lords amount due to Ashley, more cases pending with Ashley, memorial walls, Hummel/ elite and no money coming in (as opposed to John £7,8million for the European run but forget outgoings) . I read the article about Castore, question he does say £3m upfront but doesn't say its every year, maybe we should be asking that question is that a one off payment. I will take the stick and ask the hard questions bring it on lads if at the end of the day it throw light onto the running of our club, but please remember at the end of the day we all want the same.

20 May 2020 13:30:06
John, I’d happily join in corporate one day too 😜 I’ll happily lend my seat to someone for the afternoon!

20 May 2020 14:09:55
Ibrox4me u never know. Do u like helecopters. Where u live roughly
I’m not sure iom is a fan, who turns done offer like that.
Including night in One Devonshire.

20 May 2020 16:09:37
I love all this hot air John and Ibrox and will be more than happy to take up that invite when we beat this horrid virus. On the yang side not a single answer to my questions of upmost importants. If you can't answer just say 'you don't know how we will pay these bills as they fall'. Don't try to patronise it is not becoming.

20 May 2020 16:55:30
We don’t know mull and neither do you or any club in the division fir that matter . How on earth do you know how much tic have in the bank? Is it not correct they have furloughed staff but we haven’t?

The truth of Castore deal is 3 mill a year
upfront and with expected normal sales that annual dig rising to 5 mill . Depending on other merchandising initiatives ie rangers golf merchandise etc this could rise to a cap if 9 mill per annum.
The prob now being that you do not spout the true facts but latch onto a negative narrative which is not either ying or yang but just nonsense . As your 3 mill for one year only
Spat .
That is what annoys a lot of posters on here . You seem very very hypocritical when your claims last year or year before was that the club should not spend, but live within their means, and be happy with mid table for a few years until we balance the books better .
Then you have the audacity to wax lyrical about the team when we were doing well in Europe and beating the manks? You can’t really have it both ways . If you want to compete and celebrate you can’t do it with your rhetoric so at least be fair.
Let the club deal with the finances as the vast majority of the support want . giving us a chance to compete .
Non of us are money men or financial wizards so the constant negative barrage of how the club is run without credible solutions is just a winging narrative of which we hear constantly from the opposition, not ying or yang so don’t kid yourself .
Looking like we have bought Hagi for 5 mill euros with the possibility of selling on to Lazio for 7 in the immediate future . Speculate to accumulate . simple.

20 May 2020 16:55:30
What bit u not get mull, not wasting any more my life answering same rubbish every week from u.

20 May 2020 17:28:12
Ps mull . Ibrox for me answered all your negative 4 points or concerns .
I am glad you said up to 95% of the support don’t share your views, as if only 5 % are disgruntled we as a club must be doing something right. Even the likes of man untd must have at least 30 % possibly more if disgruntled support.
However 5 % in no way qualifies a ying / yang comparison as ying / yang is perfectly balanced . as per your own admission of 5 % is way way off the mark .
But hey whatever floats your boat . There’s a couple of people like yourself on here with the same attitude, but I think it points more to character type rather than anything else .
Don’t you see? If we hadn’t found a merchandise partner you would be the first on here to complain and chastise .
We have found one and you are the first to complain . Sorry that’s wrong to be fair to you . Blue billy was first . you are second . 😔.

20 May 2020 17:43:08
John, I love helicopters. Apart from Vegas and the Grand Canyon, my favourite one was on a Sunday. These days I’m in (presently) sunny Lanarkshire and inhabit GF4 otherwise.

20 May 2020 17:47:28
Great posts Mols and John. I have sport and business as a professional day time but apart from a little insight, I’m the same as everyone else. Other than the odd piece, no one “tells me” much not have I “heard” any hot news. There’s the odd piece now and again although I do have connections, who rightly don’t and wouldn’t share anything key. My interest is as a fan for life, who will blindly follow my team everywhere and anywhere. Doesn’t make me more correct than anyone, but like most of the posters on here, I love my team, will defend them and will never give in. Or go to Mull 😜.

20 May 2020 20:28:29
Lol ibrox. Mull and Iona r fantastic places to visit. One off best hotels I’ve ever eaten in. The Highland cottage hotel.
I’m sure iom would have been.

20 May 2020 22:28:40
Both have a negative tripadvisor review from an ‘IOM’ 😂😂.

20 May 2020 23:38:52
IOM

You are quite correct that the Gers finances are not as healthy as Celtic and that many clubs will be in real difficulty in the coming months. I agree that some will not survive. This makes it all the more essential to support the club and pay for season tickets and any other offer or scheme the club puts forward if we can.

We are still in recovery and must support the team.

21 May 2020 02:01:31
We have both furloughed staff, mols/ G check it out, money in bank check newspaper accounts m/ G their audited ones handed into company house. The guy said £3m up front read the interview, you now have it at £9m each year. That's ying and yang. Still not a question answered . Question to the ED (think they are fair minded) . With wages bills, and other out goings money in bank who do you think are the vuruable clubs in our league.

{Ed001's Note - certainly not Rangers. They are one of the few with the potential to cope. Outside of Celtic and Rangers every club in Scotland is on the verge of folding, pretty much. The finances of football in general are a mess.}

21 May 2020 12:33:29
Could you give your break down of why you have come your 'certainly not Rangers' answer. Last look at audited accounts shows a lost, not monies in the bank, Mr King says no more money from him, no income, apart from season books. 2nd highest wage bill (£40m appox) . Court cases and fines and bills await. Today we find out we have sold the Albion training ground that will pay a few bill, but your selling the family silver now. That's some of my ying ED I await your yang cheers.

{Ed001's Note - Rangers have a board willing to invest what is needed, and a support large enough to bring the return in the future to make it worthwhile the board continuing to invest. Isn't the Albion training ground derelict property? It would cost money to keep it, as opposed to making money by offloading it.}

21 May 2020 16:36:51
Ok mull rather than going round the mulberry bush again
1. ( The reports I read regarding Castore are as I stated . I researched a bit further than just the one interview just to make sure ) .
2. I am not aware of any rangers players furloughed, but I might be wrong . if you can point me in the direction of those reports . I didn’t say staff I said players .
0kay granted you can find out manks balance by accounts but why?
What is it you exactly want mull? And please don’t say the survival of our club by good financial management. As I said before you are quite happy to celebrate success on the pitch becoming of the boards strategy .
I do notice you do not address any of those previous points .
But what is your end game here . considering the fact that you have been pushing this for a few years now . even although we are getting stronger .
An example of this being its being reported ( from an independent source ) that Katic and Kamara could go fir a combined transfer of 10 million . and as we bought them for 1.5 combined . this would be great business and a testament to the club playing it correct?

I dread to think what state the club would be in . with your happily sitting in the middle of the league strategy .
Are you aware of how the mainstream support react to even drawing a game?
Rangers are born winners and the support expect the best and are not prepared to put up with anything else . so if this is your strategy I think you are backing the wrong team .
Give us some credible alternatives that the rank and file could look at .
If it has any credence whatsoever, and dosnt just appear as a whinging rhetoric, I fir one would certainly back it and forward it in an email or hand written letter to the board .

Otherwise I for one am well happy on the clubs development in the past years 👍.

21 May 2020 19:49:41
Europa will be finished so we will ha e taken in close to 20mill for europe by time all moneys taken in. We have sellable assets morelos and barisic 2gether could easily fetch 25mill. Kamara also likely away. new kit deal 3 mill a year rising depending on shirt sales. Have a day off man. Jeez.

21 May 2020 20:07:28
I normally back Iom, but the most recent posts show even more negativity and leave his stance out with my scope of thought. I have not changed my thinking on dm and dr, but Mr. Douglas Park is in a different league, in fact the Park family have been contributors to our club for many years.

Ed 1's forecast of them and Rangers being the 2 favourites to survive, I believe to be true. However, my fear is that football will not survive, well certainly not as we know it.
To my fellow supporters, give mull a bit of scope, as we are all not functioning at our best. A bit like our team, after the winter break.
I am still 100% behind SG and backed by DP and the board, I am confident for the "season" ahead. I would polish my boots, but I cannot remember where I left them.

21 May 2020 21:03:05
Good on you billy b 👍.

22 May 2020 03:41:57
Cheers Billy B, I now see this is a losing battle, so I will refrain from posting for a while. Good luck to the team, when we get started again. I will keep my own council, and despite the M/ G, John 25, DK and the rest I stand by everything I've posted on this site. Cheers lads and ED for the debate.

22 May 2020 14:16:10
What’s the battle mull? Why the battle . explain?
I asked you what is your end game and maybe we can understand better and possibly help .
No one football supporter could ever be expected to agree with every financial decision from their board but when it seems to be a disagreement with every decision there is obviously something wrong and has to be done .
Like when we all got together to show displeasure at the obvious disdain the easdales and Ashley showed towards our club .
After the first few demos, the easdales soon stopped taking their seats in the stand .
So don’t take the huff mull . just explain what you want and how you think we can achieve . bearing in mind we need to win win win with no alternative or excuses . If we don’t get a level of success in the park, the rank and file will not tolerate . so the board need to spend .
Good luck whatever mull and I hope you realise some of us just feel the Neanderthal need to defend the club against all comers 👍.

22 May 2020 16:09:26
IOM, I have no doubt about your sincerity, but I believe that just at this present time we need to have something to look forward to. Let's put our brains to the potential we have and ways we can shake adversity and prove once again we are SIMPLY the BEST. Cheers mate. 🇬🇧🇬🇧👍.

22 May 2020 16:45:19
Well said billy stay safe u too iom.

22 May 2020 23:52:28
Thanks guys but will be taking the 5th for a while. Thanks all for the great debates stay save all.

26 May 2020 08:33:19
Still no acknowledgement from IOM or Billyb of the contribution our biggest shareholder has made to get us to where we are!

The Parks investment over the years pale into insignificance against Dave Kings but they get the credit?

26 May 2020 12:00:02
Don’t hold your breath DK.

16 May 2020 21:46:49
No accounts in for end of April I'm afraid.

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17 May 2020 16:54:14
Oh my god . keep that under your hat . don’t tell mull .
Maybe in this instance we are more concentrated on staying alive? Just a thought.

13 May 2020 17:28:32
I imagine that RFC only option is to sue, for -

1. Negligence;
2. Complacency;
3. Coercion;
4. Bullying;
5. Intransigence.

'All under the heading of, Duty of Care.

If they sue and there are sufficient grounds, in law, and it goes to court then a judge can issue a court order regarding ALL relevant information.

In the meantime RFC can ask for an Interim Interdict to stop ALL proceedings regarding the Premier League'

and someone replied that none of the above pertained to RFC asking for an independent inquiry - that may be so, but it was what was mentioned by CEO's and MD's of other clubs who were voting for.

It should be remembered that a business or company has a duty of care towards it's staff, members and associated members to ensure that every process is robust and above board to the benefit of all and the detriment of none.

Agree1 Disagree0

14 May 2020 14:17:15
This was my reply to a post about the vote, the first paragraph is taken from a post in the Banter pages. Does anyone agree with this.


will be difficult to champion Celtic until Liewell departs from the scene

Here a novel idea do it on the park like we did in December. Liewell doesn't score last minute winners for them, he doesn't pop up in the 89 min to clear a header off the line. It's the players and in the last 2 season pre x-mas we looked the part, then for some reason the wheels came off. Get the playing side going/ winning, let's do our talking on the park. Don't let's go down their paranoid ways. We need to move on or this will eat away the whole club. Let stay together (better together) and united and do it on the park like we have 54 times before.

Isle of mull 1.

14 May 2020 14:55:38
Correct.

14 May 2020 15:12:37
Really hard to do that (and compete on any level ) when certain people do not want to speculate and want to sit mid league living as they say within our means as long as we are not in debt .
Apart from that good post mull.

Nothing paranoid about exposing corruption .
Are you happy with the chair of the spfl being the chair of a company owned by the two biggest shareholders of our rivals? How could that ever be justified and not lead to bias within the board.

14 May 2020 23:49:51
Molsgoals, this is true, its why mr park won't let it go, he has been a business man to long not to know this kind of stuff,i'dimagine once doncaster& such realise we are not letting this go they will start trying to clean up any mess they would leave behind, and will re sign at the last minuete, on his wages who can blame him. mate.

15 May 2020 12:32:49
Molsgoals for every mc cleaned or what ever his name is they could answer back Campbell ogilvie, or Gordon smith. This guy didn't have a vote did he? The thing that highlights it for me is the championship, the place for the dog fight in the 1st vote. Ever team apart from Inverness voted against us. Dave mc kinnon ex rangers wrote in the record and it open my eyes.

15 May 2020 13:55:07
Why . was Campbell ogilvie . and Gordon Smith chairmen of Rangers major shareholders or owners companies?
For someone who spends a lot of time looking on line for any anti rangers rehtoric and pushing it on this forum, exaggerating the negative at any opportunity, I am surprised that you don’t know one of the main players in our fight with the corruption within the spfl
MacLennan Is his name . and the great Dave King ( remember him your previous focus ) hi lighted this years ago . Cheers mull.

15 May 2020 19:09:00
You lost me there, so it's OK for ex Rangers people to be in high positions in Scottish football but as you say its not for a person who was a chairman of some company owed by a shareholder of Celtic. Hypocritical MG.

15 May 2020 20:32:51
Not was . is the chairman of both companies . . big big big difference and it’s not just some shareholder of Celtic it is Desmond, and the next biggest shareholder . but as usual you exaggerate to suit your rhetoric.

And as I said for someone who trawls the internet ( constantly pulling out negative facts about our club) I would have thought you would have been able to obtain the negative about this situation we are in correctly and with precision .
Check it for yourself mull.

15 May 2020 23:51:41
Molsgoal, has conflict of interest all over it, and they know it, mate.

16 May 2020 00:23:31
It’s criminal paulellen, and how we can’t prove it is beyond me.

16 May 2020 00:27:14
You will be right MG but can't you see my point he's not allowed a vote, only the 42 clubs are allowed that. Did he bribe 26 plus them to down our porpossal. The 27 voted out of self interest, but so did most of the 13 who backed us. It isn't fair to hearts, partick or Stranraer but it human natural looking after themselves.

16 May 2020 12:24:10
He might not be allowed a vote but he can and does still show impartiality and undue influence and bias, as he did when he had a question and answer with himself . all his interviews . his letters and mails to member clubs . Etc etc .
. get it now mull.

17 May 2020 14:35:29
No I don't M/ G. Each club voted for their own self interest. That's the bottom line M/ G do you agree.

18 May 2020 00:04:09
Aberdeen. Livingston .
bottom line is how the clubs reacted to the hype coming from boardroom.

05 May 2020 01:03:56
Did anyone find out if we got our interm accounts in on time (due 31 March, UEFA extended til the end of April) can't make pleasant reading (these figures are for the good part of the financial year, ie when season book money is in) if we not releasing them to the public. Maybe some of the shareholders might see a copy. On the retail deal, Ashley can if he want just match Castore (the new kit maker if rumours are true) according to court papers. Maybe in this financial climate he might not.

Agree2 Disagree0

05 May 2020 12:36:33
In commercial dealings like these, there will have been (a long since past) deadline to match the deal. I believe that is long gone. Castore certainly look likely to be the new supplier but there may still be a wee twist to come. Not in a bad way. Sports Direct will be gone 31 July. See you at the Club Store 1 August.

05 May 2020 13:05:39
Have you read the court papers, Ibrox 4 me.

05 May 2020 14:41:30
No and to be honest I don’t have the appetite for it. I generally want to simply watch my team however my understanding is that SD did not match the new deal by the deadline.

05 May 2020 16:55:03
Ibrox4me u r correct.

05 May 2020 18:38:01
SD had 10 business days, from date they were supplied notice of offer, to submit confirmation they would match all or part of the terms.

Given the mistakes (or clever legal strategy. depending on your point of view) of the past, I would hope that this notification was provided and not taken up.

However, you never know with our legal team at the moment.

06 May 2020 01:26:54
John 25 can you give so more confirmation than 'Ibrox 4 me your correct'. Also on my point about the interim accounts, did we get them to the league/ SFA on time? Will they be made public if not will shareholders like yourself get a copy?

10 May 2020 10:36:32
Park has confirmed that current shareholders have covered that £10m shortfall for the season you keep going on about mull.

10 May 2020 12:07:30
Mr grumpy and the money covered by our board has been recouped from league cup semi final and final money.
As well as additional payments from Europe. Ie 2nd in group, braga game, Leverkusen game, prize money and tv money due first of June.

10 May 2020 13:05:17
Quasi you would never know either with sone of the posters on here .
I Would just like to congrats the board on the fight with corruption in our governing body.

10 May 2020 19:54:00
Totally agree Molsgoals, the response from Mr. Park, was very impressive and hopefully, the basis of a great future for us, on and off the pitch.

11 May 2020 00:48:50
So the £10m Black hole has suddenly disappeared, what do we do for our next trick in 6 weeks time when we need to find £7-8m for the deferred wages. Oh and the answer not season book money as that will be needed to get us through to playing in front of a crowd again.

11 May 2020 10:49:29
Iom your reading is so narrow and selective. U r aware deferred wages for three months payable in 2021 summer.

11 May 2020 14:51:08
Deferred for 3 months John not 15 months. Any news on the accounts John? Another thing to remember John is our amortisation (due transfer) payments to to paid in June over £6m.

11 May 2020 15:57:33
I'll take Parks word mull. You've been trotting out the same old ' we're doomed' for what seems like years now. 😉
Lots of clubs will no doubt be worried about the future. Love the positivity in these trying times though.

11 May 2020 19:21:20
Iom u don’t really understand. Wages deferred for three months.
This means that they agree a portion off their wage to be held back and paid at another date agreed.
After the three months they revert to their full salary
As for rest u r the expert.

11 May 2020 23:17:13
After 3 months the players revert back to their full pay plus they get whatever pay has been deferred for the last 3 months . I see a few comments of mr parks response latterly has been impressive. What about the Brechin statement tonight shooting holes in rangers dossiers claim against the Brechin chairman? Brechin have came out with statements from all 2nd division clubs proving rangers accusations are totally incorrect? What about that folks?

12 May 2020 03:24:31
OMG it’s getting embarrassing now mull, some would believe your willing the club into admin .
the biggest episode in the league for years happening on tues and you come out with the same old . I really can’t figure why 🤔at least Dave king is not getting it any more so that’s one blessing 👍.

12 May 2020 09:37:02
Unfortunately IOM, the deferred payments will be made from season ticket sales.
Think transfer monies due will be paid by euro prize money. leaving the club massive hole in accounts to see out season, unless there is a new share issue and new investment before end off 2020.

12 May 2020 11:56:39
I'm embarrassing now molsgoals. I'm only asking questions that should be asked and if you were the great supporter you claim you would be asking the same. £10m hole filled (how) DP said OK let's move on. Deferred wages due the end of June how do we pay them? . Or maybe john25 has it right and we don't pay them to next summer but its still another £7-8m kicked down the line. Amortisations (transfer fees paid over the period of the contract) over £6m due this summer. That's football debt. I know we are in a fight with the football authorities over corporate governance but take a look in the mirror interm accounts (thats the good half of the year) not made public, again I ask john25 or any shareholder have they received a copy if not is that good corporate governance.

{Ed001's Note - deferred wages are not due at the end of June mate. Those wages are paid back in a drip feed over the course of a contract.}

12 May 2020 12:26:29
Iom but some shares. U can get ten for £1.80 then u will know as much as any shareholder.

12 May 2020 12:28:55
Ed I just don’t get why iom can’t see these things for himself. Tavernier interview on YouTube re RIFC deferred wages explains what our players agreed to.
As always thank u for your clarity.

{Ed001's Note - I don't know either. It is perfectly clear but many, many people still don't understand what it means when wages are deferred. Some people actually believe the players are giving up a percentage of their wages and not going to get it back ever. It gets frustrating across all the sites how little people understand of the things they talk about.}

12 May 2020 13:06:59
Ed is it still a liability?

{Ed001's Note - it is salaries mate, it still comes under that heading.}

12 May 2020 13:17:40
So salaries are not liabilities?
I think they are ie football debt do you agree.

{Ed001's Note - salaries do not come under debt unless they go unpaid after the agreed period. Which is what the deferral is about, to put them off while it is a difficult period. They do come under a liability but I fail to see what relevance that has to your original post? You said they had to be paid back in full in June and that was incorrect. I was just trying to point out that payments will come over the course of the contract agreed at time of deferral. I am not sure what that is in Rangers case, but I know at some clubs they have agreed to receive the deferral over a period of years, even if they should leave the club in that time.}

12 May 2020 13:41:49
Oh dear mull just got burned😂😂.

12 May 2020 14:18:04
IOM. I get what you mean regarding salary deferral’s, if they save £6/ 7m now on wages they still have to pay players sometime in the future whether it’s This June or next June It’s still a liability that has to be included for future budgets.

{Ed001's Note - you clearly don't get it either. It is not this June or next June. It is paid in small amounts over a long period of time on top of the usual monthly salary.}

12 May 2020 14:46:10
Ed0001 u r wasting your time, the one consolation is they r not my bank manager or financial advisor.

12 May 2020 14:57:50
Ed, as they say, You can take a horse to water lol.

12 May 2020 16:09:29
So because it gets paid in dribs and drabs the £6/ 7m that was deferred no longer becomes a liability that has to be paid. Don’t think so!
The debt to the players still exists as a liability until it’s paid. paying it over a number of years, if this is the case which I doubt just makes it more manageable.

{Ed001's Note - again you are the same as Mull, miss the point that was made. You both make the claim that the liability is due in full immediately and that is all I am saying is wrong. Your rant is just you being unable to read a conversation.}

12 May 2020 16:42:00
I’ve never made any point about money due in full. the point I was making in my first post was in the future it’s a debt/ liability that has to be therefore has to budgeted for as its monies over and above normal salaries that has to be paid.

{Ed001's Note - and nobody said it wasn't, so what exactly is your point?}

12 May 2020 20:29:48
My point was I was agreeing with IOM that regardless when it has to be paid its a-debt owed to players therefore a future liability.

13 May 2020 01:13:05
Ed we have 7 players out of contract next season so they will need to be paid 15 months wages in the last year of their deal do you agree ie player A is on £10k a week or rough half a million a year so next year we will need to find £625k for him. I'm just trying to say that's it just another debt being kicked down the road.

{Ed001's Note - not necessarily. As I said I know of players who will be being paid back after their contract is over as a player with the club in question (not Rangers' players though those). I don't know the deal agreed with Rangers but it is highly unlikely any of the players would have to be paid back in full before their contracts end if it is this season. It is often the way that players continue to be paid by previous clubs after they leave anyway, this would be just one of those situations. It is going to be a difficult time for all clubs and we will probably see these extra costs heavily impact the transfer market and future playing contracts.}

13 May 2020 12:04:50
At the end of the day we are singing from the same hymn sheet. This 3 month deferral is the same as the 'mortgage holiday' people are getting now. All the wage/ salary money must be repaid.

15 May 2020 16:19:41
Iom, i think the word defer, or defered is pretty self explanatory, mate.

15 May 2020 23:53:58
Iom, i'd imagine if we never showed accounts on time, mr mcleelen would have. Had it all over the media, after all, that's his job, is it not, mate.

16 May 2020 13:47:38
I am pretty sure that companies are only legally required to provide company accounts annually at their year end with interim 6 monthly accounts being optional.

There may be an SPFL requirement for 6 monthly accounts but I doubt it and have never heard of this previously.

Checking back to last year at this time there was no interim accounts to Dec 2018/ 2019 posted on companies house website so we may have stopped this uneccesssary practice.

17 May 2020 14:55:18
Paulellen the unaudited accounts have to be with SFA before 31 March (UEFA put that date back to the end of April due the virus) . This is so they conform to UEFA financial fair play rule. Mols you say

so we may have stopped this uneccesssary practice.

That's a great line when we are fighting the authorities over the lack of transparency.

17 May 2020 19:01:15
IOM

Understand your point now. Having read the SFA Guidance on licensing the financial information only requires annual accounts and further updated information based upon the annual accounts. I still see no reference to interim accounts being required although would accept if they were provided they would satisfy the SFA and UEFA. Requirements.

I have to assume that Rangers are satisfying ‘this requirement.

Has a complaint been made by the authorities about Rangers lack of transparency or non compliance. I am not aware of it but happy to be corrected.

17 May 2020 19:45:24
Iom, do you not think if our accounts were not up to scratch it would not be know, the media (mclennen) would have had it all over the media, its his job, if he is not doing it right dessy would sack him, ohh on other thought he polishes his turds for dessy every morning, mate. so wouldn't get sacked, probably get a pay rise, mate, what's your problem with rangers fc, mate.?

01 May 2020 18:49:38
Ingenious media lose appeal on tax avoidance scheme.
Affects one club in Scotland significantly.

Agree0 Disagree0

02 May 2020 09:27:50
John it affects lots of individuals also from our club. Good enough for them all as they make enough money without trying to hide it.

02 May 2020 11:43:10
Yes. But according to records Durie and Dodds. , CFC over 30 players about to be bankrupt.

03 May 2020 02:54:03
Explain please John.

03 May 2020 08:37:41
Igneous were found guilty of tax avoidance scheme, lost there appeals, multiple Celtic players staff were part of it.
So were Durie and Dodds.
Celtic players and management now listed as owing tax man millions.
There system of avoidance was run by club.
Affects hundreds in English game
Intersting what take sfa will have if any.

03 May 2020 11:06:55
I would love for all that to be true John25, a well deserved slap in the face for the mhanks support who constantly bring it up about us.

I know for sure Liewell was found to have evaded tax and paid up, but it was all hushed up to save his embarrasment.

03 May 2020 12:48:55
Blue billy, type in igneous media. lists all Celtic employees as well as many from England like Beckham shearer lineaker.

03 May 2020 14:06:51
Thanks John, will do, cheers mate.

03 May 2020 14:44:31
Hi John25 you do know that Steven Gerrard was involved in the same scheme? Also Celtic did not run this for their employees it was all personal investments.

04 May 2020 14:15:32
You don't get it mmr do you? It doesn't matter who was involved, all the time we were "scamming" the tax man you lot were at it too just with a different "scam" but you claimed moral high ground and preached to anyone who would listen about the big bad Rangers and unfortunately the sfa listened and vilified us when there is a good chance that some of their hierarchy was at it as well . I hope we find out.

04 May 2020 16:22:05
JYF I do get it as a matter of fact. All forms of tax avoidance in my opinion is morally wrong. It was wrong when Rangers carried out their schemes and it is wrong that these individuals also participated in these schemes. We should all pay our taxes. The pointI was making was that these individuals, although employed by Celtic choose these schemes of their own volition and it had nothing to do with the club. As you now want anyone involved punished for tax avoidance you must then surely admit that Rangers deserved to be punished for their schemes.

04 May 2020 16:31:50
Mojo, celtic fc ran this scheme to induce players to sign, fact, gerrard is just like lawwell, can afford to pay it, ',

.
This will all come out in the press shortly,

04 May 2020 16:55:18
So to be clear Paulellen you are saying that Celtic ran this scheme to get players to sign for them? I have never seen this reported anywhere could you please supply me with the source of this information to allow me to read it and be better informed. Also what players did they sign using this inducement?

05 May 2020 13:32:13
why would walter smith. archie knox, wee barry and many more gers get involved with a celtic led scheme?

05 May 2020 14:04:15
Dill it is. It was not Celtic led. It was led by English international players. Some off our players also got involved, also about 30 off them.
It’s why guys like Durie and Barry we’re bankrupt.

05 May 2020 14:43:48
So it’s now an English firm that lots of sportsmen invested in as a potential money maker? So how on earth is it Celtic led to entice players? Queue the cries of sporting integrity strip the titles? 😂 auld lord nimmo smith better dust off his gavel? What a load of crap whataboutary 😂.

05 May 2020 16:32:18
mmr lawel runs your team and lennon manages it so NO you don't get it "as a matter of fact".

06 May 2020 09:21:05
It wasn't Celtic led Big P.
But Celtic ran it at source so were therefore responsible for the Celtic players / management who invested in it. 👍
That's why ALL levels of the Tims were involved in it including Lawwell and current manager Lennon.
Sporting integrity anyone? 🤔😂😷.

06 May 2020 12:27:01
Mr Tupacman excuse my ignorance but what do you mean Celtic ran it at source?

Thanks.

06 May 2020 13:18:52
Is this true both clubs had players on this scheme?

My point is our players used EBTs (ie tax free money) to then get involved in a further tax avoiding scheme is just asking for trouble- one biten twice and all that.

06 May 2020 14:49:08
I don't excuse your ignorance mmr. Have you done any research into this at all mmr or is it see no evil speak no evil hear no evil? You are trying to defend the, your chief, your manager and a host of ex heroes of yours are guilty of tax avoidance, end of.

06 May 2020 15:21:32
*defend the undefendable*.

06 May 2020 19:09:19
JYF I have tried to be polite and courteous when posting on this site and if you see my post I state that ALL tax avoidance is morally wrong so how can I be accused of defending anyone. I have read stuff online about this and no credible source states Celtic ran this scheme. I am sorry to say that just because you want something to be true does not make it so. On this one you will find no wrongdoing by the club itself. If you want to hold on to this fantasy it is entirely up to you but ultimately you will be disappointed as this will not lead to any problems for Celtic.

06 May 2020 19:33:40
One other point Jyf if tax avoidance in un defendable I take it you have always refused to defend Rangers in relation to the EBT and DOD schemes?

06 May 2020 20:33:30
If some Celtic employees invested in an investment scheme with their own personal money along with a multitude of several other sporting people including several ex rangers staff? Please tell me how is that anything to do with Celtic legally as a football club? Please enlighten me with your knowledge guys?

07 May 2020 08:44:53
mmr, I'd say that I also have been polite (you called yourself ignorant) throughout our discussion so what is your assertion? Is it that we are cheats without sporting integrity because we used the legal at the time EBTs but you have full sporting integrity because your ceo, manager and players used their avoidance scheme individually? Is that really what you are saying. I'm sorry if I upset your sensitivities mmr I just can't get my head round your hypocritical point of view. At no time anywhere have I said that anyone should be punished for tax avoidance as I believe that the parties are working from advice given by accountants, you don't really think lennon came up with that himself do you? You also used EBTs and paying back the money does not excuse any wrong doing, if in fact, there was any wrong doing. If you steal money you are a thief, if you pay the money back you are still a thief.

08 May 2020 17:28:06
Jyf if you are stating that Celtic committed theft by using an EBT for one player even though they paid it back does that not make Rangers equally guilty of theft. Secondly you have stated that EBTs were legal at the time they used them the same Can be argue for those tax avoidance schemes referenced above in relation to Celtic players amongst others or is it only wrong when used by anything Celtic centric.

09 May 2020 09:10:33
OK mmr I've maybe got you wrong, I thought you were of the opinion that Rangers were cheats for using EBTs but you lot wern't. The theft thing is an analogy meaning that IF Rangers are cheats for using EBTs then you also are cheats because you used them too and just because you paid the money back does not cancel out any perceived cheating. I'm fed up saying it I don't think anyone cheated RE tax avoidance and that the titles were won on the field of play team against team, I thought (obviously wrongly) that you were of the opposite opinion.

10 May 2020 18:15:10
Big p, a potential money maker, I've heard it all now, anpotential money saver, a way of cheating the tax man for billions, typical tim.

14 Apr 2020 08:35:38
Guys, if you haven't already read the fourlads blog on our Finances, PR going forward, the real story on the pitch refurbishment, do so, it's good reading, very positive in these dark times.

Agree6 Disagree1

23 Apr 2020 02:53:46
If we have no more football this year how many Scottish team will survive?

Will we?

23 Apr 2020 07:52:47
IOM, I have no idea, I would imagine that more Clubs will go to the wall than survive, no Club in the UK I would imagine would have the cash liquidity to survive the time period we are hearing every day, e. g. mid-2021.

Very worrying times, and, really as many have said, although it's a big part of our lives, football is irrelevant at this time.

09 Apr 2020 13:00:08
Rangers want the season declared null and void in the full knowledge that it might impact the contractual agreement with Sky and BT given what is happening in England but in the same breath want money due from the broadcasters now.

Frank Gallagher would blush at how shameless you are.

Agree4 Disagree0

09 Apr 2020 13:23:48
Gazo, your lot want the title regardless of the impact it would have on every other. Club in scotland, pure corruption mate.

09 Apr 2020 16:47:43
I want the season played out.

10 Apr 2020 13:00:19
You might want it finished Gazo but your club doesn’t the first words out Lennon's mouth were we want the title, where as Klopp said Liverpool will accept the season being declared null and void and their lead is double what yous have got.

10 Apr 2020 14:32:35
Where does it say rangers want season null and void, official statement says finish league.

10 Apr 2020 14:39:29
The difference is Liverpool are a class team the other lot are not

10 Apr 2020 14:42:58
Thing is bear82, you are talking to me not Neil Lennon. Also Lennon was asked the question, he didn't hold a press conference to declare it.

10 Apr 2020 15:53:04
You're talking nonsense Gazo.
Rangers have never mentioned a bull and void season. Our clubs stance has always been consistently to finish the season.
Whereas your club have continually came out and demanded a unearned tainted title.
Oh and Lennon held a press conference for the old firm game that was cancelled knowing he was going to be asked that question. And he immediately said we deserve an unearned tainted title. But funnily enough a week earlier he said that Rangers could still catch Celtic?
Obviously Hollicom had got a hold of him since then!

10 apr 2020 19:23:12
john25 and mrtupacman your resolution to the spfl which the spfl described hilariously as "legally ineffective" asked for the following:
"rangers had put forward the plan of prize money for current placings being released now, with no leagues declared. "

no leagues declared, sounds a bit like null and void to me. it's a sad day guys when you don't know your own clubs's stance on things.

10 Apr 2020 23:55:49
No leagues declared Gazo sounds like to me that Rangers don't see how titles can be handed out to teams without them being earned over the course of a FULL season. 👍.

11 Apr 2020 09:12:29
And if no league is declared and no winner declared, Mr Tupacman, doesn't that make the season, null and void?

11 Apr 2020 19:12:56
Only IF it doesn't get played to a finish which is Rangers and UEFA preference.
Why are Celtic desperate for an early finish?

11 Apr 2020 22:17:03
Isle of Mull . would really like to hear your view on the recent proceedings regarding the vote on Friday? Considering the teams seemed to have been pressured by the governing bodies to vote a certain way and wrongly advised that theirs was the only option on the table . The majority of the teams seem to be backing rangers stance . and the majority of the pundits, how do you think rangers have handled this?

12 Apr 2020 02:49:40
Don't really know molsgoals goals, but I do know we needed £10m (that's in our accounts) to get us to season book money. Then this horrible virus hit denying us another 5 home games/ money. We have made lots of statements about the league outcome but none on our troubling financial position. This to me is more worrying than a league we little chance of winning. Of course again I will be called a Tim, traitor, and coward but we can only deflect from our critical financal position for so long. Our survival is the most important thing here.

12 Apr 2020 08:26:58
Everybody's preference is to finish, Rangers preference beyond that is null and void, that is clear from their proposal.

12 Apr 2020 09:21:16
I think the best thing to do, at the moment, for all the league clubs, in a financial sense, is to take the total prize money and divide it by the number of clubs and dish it out to all the club's regardless of league position, this will mean the club's in the lower positions will receive more and the top clubs will receive less, but it will ease clubs financial worries, the league can then be finished when ever is possible, and that will only be to determine the league positions, with regards to relegation and promotion and positions in European competitions.

12 Apr 2020 11:01:32
Iom you really don’t understand, we have made in excess of the ten million we needed.
Go and look it up.

12 Apr 2020 11:05:02
Molsgoals U r dreaming if u think you will get a response from iom.
He prattles on e lost revenue for five games, despite being told on multiple occasions that we have already taking in the money from these matches from 47k season ticket holders
Also very clear in tc we are not entitled to a refund.

12 Apr 2020 11:08:03
Brilliant mull every team in the land . in fact (reading up on Belgium league and Spanish league ) in Europe is in dire financial crisis . but it’s US that is in financial meltdown .

The question was about the obvious corruption in the spfl? Lol.

{Ed001's Note - over one third of the German top two flights are almost certain to be insolvent by the end of next month.}

12 Apr 2020 11:16:08
Ps I posted before mull (but it wasn’t published )
That the money for the five home games are in and will not be under any circumstances refunded . As per conditions if season ticket purchases.
Aindoh I said this in response to Gazo last week
I totally agree it would be the best moral solution. We might lose some money ( so I o m will sound the death bell) but it might show some goodwill and much needed togetherness at this crazy time
Will it happen? Very doubtful.

12 Apr 2020 13:48:07
Aindoh, that sounds a sensible approach but SPFL are rejecting any such proposals by stating that no monies can be paid out unless the final league positions are declared. That’s where their intransigence comes into play and the bullying of clubs to accept this ridiculous proposal.

I know you’re a Celtic man and no doubt you recognise that leagues have to be won and not awarded, hence your wishes for the league to be played to a finish whenever.

12 Apr 2020 14:08:34
Thanks for that Ed very scarey. Don’t think things can ever be the same.
Hearing that the English premier are looking at playing a mini tournament ( to play out league ) to appease tv . in a part of China where there is now no cov cases . Wow even the idea.

{Ed001's Note - it is very odd.}

12 Apr 2020 14:14:22
Exactly John 100% I was fishing actually, but now I really do not know what the real problem is
Stay safe lads . enjoy game tonight . I have a massive bet on rangers 👍😷.

13 Apr 2020 10:01:56
I think the way I read it The rangers want the money paid out to the teams in relation to the position they now occupy in the league, I think your team would not agree to my suggestion, you need that second place money, your team would not agree to end up with the same money as Hearts.

13 Apr 2020 13:32:55
I think you Tims might struggle to accept it as well Aindoh.
First to beg Boris for the Tory Furlough ( that must have hurt! ) . 😂
Players and management taking forever to agree to defer wages!
Possible exclusion from Europe.
Huge wage bill.
Huge Hollicom PR bill!

13 Apr 2020 14:34:43
Aindoh, I see like many others from your site you refer to us as The rangers. Tell me, will you accept your asterisk if your team is awarded the title? Or will you argue that football authorities and everyone else got that wrong as well?

14 Apr 2020 00:25:43
John 25 and where would I read that we made this £10m plus in the interim accounts that should have been posted on 31st of March?

14 Apr 2020 08:03:47
I think the asterisk is acceptable, these days we are hopefully living through, are extraordinary, this is history we are participating in, the whole of humanity is under threat, the asterisk will explain to future generations that in the season 2019-20, the world was decimated with the covid-19, and because of this the league could not be completed, as Celtic were 13 points ahead of their nearest rivals, and by far and away the best team in the league, they were awarded the league title.

14 Apr 2020 08:15:59
Iom you obviously don't read papers or follow out great club close enough if u don’t know we Made in excess 10 mill.

14 Apr 2020 10:18:02
The narrative that Lennon or anybody stated immediately that they want they title before anything else is false. Both Lennon and Brown stated they want the season finished. And then they were asked if they thought Celtic deserved to be champions if the league needed to be called early. Just inventing things that never happened doesn't help anyone's argument.

14 Apr 2020 19:55:23
With no 'outgoings' of course john25.

15 Apr 2020 09:17:58
U actually don’t really understand money,

15 Apr 2020 11:09:34
You might be right John 25,but I do know when I get my wages (ie income) that I have out goings (ie mortgage, food, insurance, lecky and gas bills, council tax etc) . Believe it or not John football clubs are the same. There might be some people (usually teenagers/ early 20) who work and mum and daddy pay all the bills and they can keep all their income (wages) for themselves. Even a man of your wealth John must still have a budget ie income and out goings why is our club different john.

15 Apr 2020 12:23:17
Iom I’ll leave it to you experts.

16 Apr 2020 12:50:50
Again I ask john25 you said we filled the £10m shortfall, where can I read that. No interim accounts which were due 31 March, and remember these are for the good part of the year. Was it last year or the year before we posted a £5m plus profit with the usually suspects claiming the wonderful world of Dave king economics but we later found out that 72 hours after them being published we had got a loan from close brothers. We all call for transparency from SPFL but our board are very poor with it on the financal front. Also John you said your season book have gone up by 35-40%, but the new facilities are put back a year have you been offered a rebate?

16 Apr 2020 13:51:35
No. We have not been offered anything. Just advised they will increase to 1400 per ticket.
Leave finance to u now I’m retired.

17 Apr 2020 17:45:28
Outgoings don't come into it mull, thsts what the 10m was to cover. If u go out and work and make 25k a year, you make 25k a year you don't take all your Bill's off it and tell folk you mske 6k or whatever it leaves you with mate.

23 Apr 2020 09:06:54
Aindoh, do you think it will mention the real reason celtic fc can't get this title is because rangers fc are still playing in europe, mate.

 


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