Rangers Finances 3

14 Nov 2023 22:38:06
Great to hear from DK and John, hope your both well. Now your hero DK Mr King cost us multi millions of pounds in battles with Ashley that he was never going to win. Now John you say that transfers fee are paid over 3 years, I agree. Now let's go back to September 20th this year ( anyone interested can find this in Rangers finances 3 at the bottom of the page) . I said MB said he had spent £13m but transfer are not usually paid upfront. They are usually paid 40%,30%,30% over the 3 years. Ed and I had a misunderstanding but YOU John posted correct again ED some people on here just don't know how football club operate. Now John I take it as you said it in one of your posts transfer are usually paid over 3 years, I just might know something, not in your league of course but something. You also said we are still owed money for transfers, but again you alway remember the incoming and forget the outgoing fees. £16.5 still due but £16 still outstanding.

15 Nov 2023 07:05:05
Sorry at the end of my above post it should be £16.5m in and £16m in lol.
Question for John, you said in one of your posts, the way we finance future transfers is with season book and European money. Don't you think in a year with our highest every player trading and CL money and we end up with a £4m loss, we have already maxed out? . One more thing the repaying players CV money was £1.4m even if we didn't pay that we would still make a loss, yes a one off payment but not a massive bearing on our overall financial results.

15 Nov 2023 12:08:30
IOM. like many others I was expecting a much healthier set of accounts, given player sales and CL monies.
As you point out player trading Exellent and champions league money yet still end up making a loss, very concerning considering sell on value for players the club brought in under Beale
No CL money this season, beales pay off. Phil players in, and summer pre season a few games to play for nowt to compensate re Australian fiasco.
Will have to go some to post a profit next season.

15 Nov 2023 12:37:47
Isle of Mull 72
You're not counting the money spent to complete New Edmiston House which I imagine would have a big impact on profit and loss accounts.

15 Nov 2023 18:21:50
See Elite case hearing today suing club for £9.5M. further date set for before Christmas.
Decision likely end of July.

Good chance the club could lose the case, with this case and having to play games also in summer break as part of losing case in Australia it could have a big impact on club finances going forward.

15 Nov 2023 18:35:44
Mull I clearly state we owe money on players signed.

15 Nov 2023 19:33:13
CO2 that wouldn’t impact the profit and loss as its capital expenditure, so apart from possibly slightly higher depreciation charge, no impact on profit and loss. Although, it would impact cash in the bank.

15 Nov 2023 22:54:17
CO2 I may be wrong but didn't someone post on here it will take 10 years before we see any profit from Edministon house?

16 Nov 2023 11:42:58
The accounts are dreadful and borderline mismanaged. So many average players on wages they don't deserve. Who is allowing such mismanagement of wages? Surely nobody believes the stadium expansion guff now? Be lucky to see out the few seasons without going into administration again.

16 Nov 2023 12:28:09
56 what was your name b4 or r you from the east.

16 Nov 2023 13:34:17
I'm a very worried fan of rangers John. This set of figures are very disappointing when you take into account what we brought through in the past 18 months.

16 Nov 2023 13:39:33
The fact he mentioned administration tells you everything you need to know John.

16 Nov 2023 13:58:57
Think he’s on wind up John.

17 Nov 2023 10:09:09
Flb and ramaruso cheers, I did wonder but not good at picking them out.

18 Nov 2023 18:24:24
Guys, I am Bluenose and after that set of fiancé which looks mid mananged.

{Ed033's Note - Oh, we don't have a fiancé page. :) and BTW I am Groot. :)

18 Nov 2023 18:27:28
Guys, I am very disappointed in the last set of books. What if Europe does become more difficult to get into the group stages and our income struggles in the future? John you can sugar coat the financial situation at the club, but we are in a bad way and it’s very worrying?

18 Nov 2023 21:24:06
The fact our wage bill is higher than the other mob is ridiculous given we've won 2 trophies since coming back up that's something we need to look at but it's better surely we're practically self sufficient profits will come with success and sorting out recruitment should be our biggest aim we may need to sell a butland to fund Phil recruitment but if that's what it takes then so be it also if we don't want lunny or BB or they don't want to stay we have to try and move them on in jan we, re the worst at moving on unwanted players whilst the other mob don't have that same issue maybe because they don't pay players as much.

19 Nov 2023 13:27:50
I think you lost them there Ed. 😂😂.

{Ed033's Note - Right, or people scrolled straight past.

14 Nov 2023 20:49:47
21million spent on transfer by beale in summer once signing on fees and agent fees tally up. Quite a figure. On top of the highest wage bill in the country. We need to start buying shrewd and not wasting big money on dessers and lammers types imo.

15 Nov 2023 18:36:26
Paul we r paying dessers 28k a week.

18 Nov 2023 18:28:30
Who rubber stamped Dessers at £28k per week? They have to be held accountable!

19 Nov 2023 10:32:44
That’s the going rate for a decent striker these days, the problem is he’s not good enough.
If he was performing well he’s be worth it, the wage isn’t the problem it’s the signing.
And that’s on Beale.

02 Dec 2023 22:01:51
Thought the accounts were to June will they have beales signings on it?

13 Nov 2023 18:05:42
A couple numbers from the financial report that are quite interesting. Although they’re all year end June so obviously 5 months out of date.

Staff costs up 10m from previous year. That includes a 6m increase in wages from last year. Probably impacted by champions league bonuses and Gio being sacked.

Also mental we got more prize money from UEFA when we got 0 points in the UCL compared to getting to the Europa final.

11m due in player sales within the next year and 6.5m due longer term. Although we have 16m going the other way. This won’t include players who left or joined after June.

5m in the bank would love to see what that looked like rn to get some form of idea of what we have for Jan.

13 Nov 2023 18:19:39
David one part is players receiving money due for salary which they accepted was reduced during C.V., this had to be paid before end of June 23

U very correct to highlight money due on players next two years. Ie Paterson aribo itten Bassey et al.

13 Nov 2023 19:15:43
So John going forward how do we fund the players needed by the new manager?

13 Nov 2023 19:30:06
Interesting so that should drop back down again for the next financial year then.

13 Nov 2023 20:12:52
A good plus is getting roofe of wage bill end of season will save us near 2mill a season haha.

13 Nov 2023 21:10:00
I'm actually fairly pleased with the results. Would obviously love to see us banking much more but given the amount of investment in and around the ground what else do people expect. Major changes in management don't help as getting knocked out or Europe earlier. Recruitment under previous board has been a big issue and acknowledged player trading must be far better. Hopefully now under more stable management will see big improvement on and off the park as we start to see benefit from work done in the near and long term future.

14 Nov 2023 07:51:15
On Walter easy. Use the money we accrue from selling season ticket europe etc. same as any year.

14 Nov 2023 09:53:26
It’s difficult to draw any meaningful conclusions from the financial statements as their 6 months out of date and I haven’t read the detail.

However, although I take your point John on accrued season tickets/ Europe on board, it would appear that our operating expenditure exceeds our income, albeit there is non-cash expenditure included in this, so likely that season tickets and Europe money will be require to run day to day operations.

That said, I haven’t read the detail so it’s impossible to determine if the stated operating expenditure, Mai alg salaries contain any costs that won’t recur I. e. it would be interesting to see wage bill now following departure of several high earners in summer, unless we replaced them with equally high earners, salary costs are likely to have fallen since June.

In terms of financing players, there is only two options, unless overheads have fallen dramatically since June, and that’s either increasing revenue, perhaps unlikely, or funds from owners in short-term with player trading being the longer term strategy which it has to be given the restrains of playing in Scotland.

14 Nov 2023 09:57:07
Oh I forgot to add John, as I haven’t read the FS in any detail, I’m unclear whether the cash for season tickets was received by end of June or just invoices, as there will be significant deferred revenue related to season ticket sales and and normally I would expect cash to have been received, which makes the cash in hand position look a little underwhelming, but it could be that they have just issued the season ticket invoices, so would be sitting as debtors netted off agains deferred revenue, rather than as cash.

But would need to take closer look which is difficult at this time of year for myself.

14 Nov 2023 18:22:33
Rangers state that all season ticket money is deferred to the new season, same as virtually all clubs Ram.

14 Nov 2023 19:06:41
Yes John, my question is, was the cash received prior to 30 June for the season ticket sales, or were the sales invoices just raised.

Season ticket sales would have to be deferred because Rangers haven’t provided the service that has been paid for yet I. e. the games for FY23/ 24 season. Therefore, I was merely asking if the cash relating to these sales had been received, in which case it would be reflected within the cash balance at 30 June, or whether the cash was still to be received, in which case the cash balance at 30 June was set for a boost.

14 Nov 2023 19:23:22
He answered the question ram it’s deferred.

14 Nov 2023 19:31:56
That’s isn’t the question stormtrooper…. as I already stated above.

15 Nov 2023 18:39:35
Rama rush, cash was received, ie those who pid in full in May also those who pay four payments first payment received by rangers prior to 30/ 6.

15 Nov 2023 19:35:02
Cheers John, although makes the cash position look poor, if we received all cash for season tickets and cash position is significantly lower than season ticket sales revenue, suggests we’ve spent the FY23/ 24 season ticket money in advance.

13 Nov 2023 18:03:47
Don't you just love it when folk demonstrate how little they understand about finance, accounts and tax😂😂😂😂😂

As a famous America once said - Better to remain silent and be thought a fool than to speak and to remove all doubt - It's better to keep your mouth shut and appear stupid.

13 Nov 2023 18:30:07
Or you can just scroll past and allow others to comment.

14 Nov 2023 07:22:48
Why don't you explain it all to us then DK19,and while you at it can you explain the following. In a financial year with CL money and record players trading of £23.6m. w
We end of up with ' a overall net loss of £4.2m.

14 Nov 2023 09:45:28
Mull how much off the 23.6 has been paid to us given that it was spread over three years.

14 Nov 2023 09:53:11
IOm, good to see you back.

You don’t need me to explain the results, you know that Dave King has been out to ruin the club from day 1 and should be blamed for everything that is wrong 😂😂😂😂😂😂😂😂😂.

14 Nov 2023 19:24:17
He can't explain because he is one of the people he is posting about.

15 Nov 2023 08:10:44
I'm confused here, DK19, so maybe you can help me out here? You come on here having a go at the "folk" on here who "demonstrate" how "little they understand about finance", but when a poster calls you out, and asks for you to explain to us how finance "works" (you're obviously an expert if you're calling others out), you soil the bed and revert to your usuall rubbish. Why? Is it because you know nothing about it too, but as you're DK19, you'll have a pop at others just for the sake of it? Of course it is, that's just you!
What's that saying again? Oh yes, either s*@t or get off the pot.

15 Nov 2023 11:24:52
Well Roofe, the poster you refer to has form going back many years and has no interest in dealing with facts.

John refuses to respond to him for the same reason.

I don't pretend to be a financial wizz although I do know enough about business to read the bigger picture and understand accounting terms such as accruals, deferrals, soft loans, equity for loans and tax implications.

The folk I have a "pop" at as you say are always the one's who immediately jump on the club and infer that the board have no clue how to run a football club when the facts do not support that view.

How was that?

15 Nov 2023 12:24:50
How was what DK19?

You've still not explained the "bigger picture", all you've done is post some buzz words, and that's it - aren't you clever?

15 Nov 2023 14:54:30
Yup, you got it bang on.

15 Nov 2023 15:31:43
I rest my case. 😁 You make it so easy.

15 Nov 2023 22:48:58
I take it the poster you talking about is myself DK. I had no interest dealing with facts wow. All I did was critise your hero Mr King. Fact was he tried to take on Ashley and we ended paying for it, and by the looks of the latest news we are still fighting court cases.

18 Nov 2023 09:36:21
And if King had not taken on Ashley where would we be now Mull?

Green and the Bus boys doing Ashley’s bidding to asset strip the club?

21 Nov 2023 17:37:47
With your hero on board over many years we have lost well over £100m. Most of the losses over these years were ideas from your hero. Fights with Ashley, going to Hummel while we still had deals with SD. Paying the players 48 weeks contracts, remember him saying "I'm not paying players for laying on the beach", another court case another loss. Your hero also voted to liquidated the old company remember that, real Rangers man right enough.

21 Nov 2023 17:43:25
Forgot to ask you DK can you tell us all these assets you go on about, a run down stadium and a training ground that has many legal issues ie sport Scotland. I await you rely about all these assets.

13 Nov 2023 17:40:34
so if we've broke even the signings going forwarded will need to be generated through player sales?

13 Nov 2023 17:55:17
Walter can you explain how we are broke, u do understand these r figures to 30/ 6/ 23.

13 Nov 2023 19:17:05
I didn't say we are broke but we posted a small profit jonh so if we break even do we sell before we buy.

14 Nov 2023 10:11:14
Not in my opinion

Since 30 June we have brought in this year’s season ticket money
Payements due for Bassey aribo kitten katic. With final payments due 1/ 7/ 24

Granted outgoing re Danilo Lammers cifuentes dessers, but less than incoming over next two years

CL play offs parichute payment of 5 million, euro prize money,

We received down payment Colak sakala and kamara, final payment on Paterson due January 24.

14 Nov 2023 14:59:40
All I would add is the sale of players in prior years I. e. up to 30 June 2023, will be reflected in the results, some of the cash for these transaction may still be due but this will not improve the financial results, just the cash in hand position.

And, to be fair it’s cash in the bank that I focus on.

16 Nov 2023 06:31:20
John again you always remember the money coming in and forgot the out goings. We now have the highest wage bill in the country. Since 2012 we must have accumulated losses of well over £100m, and this year with CL money and record player trading we still make a loss. Ever you John must have expected a profit, because that our best chance of a profit as we are maxed out on potential income sources apart from more loans oops sorry share issues. We could win the treble but how much extra would we get maybe a extra million. Can you tell any more income sources John?

13 Nov 2023 17:11:40
So we havw basically banked nothing in the past 12 months. Major concerns going forward considering that was with CL money included.

13 Nov 2023 18:04:30
We haven't banked nothing. We've lost 4m.

13 Nov 2023 16:28:01
Turnover to June 30th £83.8m with a profit of a couple hundred thousand pounds. official.