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Sevco Thread

V for Vendetta

By V for Vendetta,
in AFC and Scottish Football

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Foster14
Foster14

I'm surprised you haven't mentioned this before Roberto.   It is such an interesting contribution to the thread, could you please start mentioning it every time you think there is non-news?

Pudgie
Pudgie

Pish! Absolute pish!   This is the kind of nonsense that really fucking riles me up on this topic. They died. It very much matters that they are a different club. They cheated, blatantly cheated for y

Ten Caat
Ten Caat

Pollokbear Well-Known Member Today at 6:36 PM #21 The sheep are Scottish football’s equivalent of Ce

Clydeside_Sheep Mentor

Clydeside_Sheep

Posted
Posted

"The Review process discovered issues in operating procedures, commercial contracts and strategy, all of which were more serious than anticipated.

The Club's financial position was precarious as it had mismanaged almost all of its cash reserves following administration"

 

:laughing:

 

"The Board considers that the perfect opportunity to rebuild Rangers immediately post administration in a progressive, stable manner with a solid financial base has been completely missed through a series of
ill-defined, short term focused decisions with little advance recognition of medium or longer term requirements."

 

:laughing:

 

"£2 million was invested in capital purchases that were non essential and have not generated incremental income. In particular the purchase of Stadium Wi-Fi, LED displays and Jumbo Screens used cash that could have been retained to sustain current operations. "

 

:laughing:

 

The document is a real hoot :)

 

Hopefully it will provoke the Orcs into intra-tribe violence :laughing:

 

Im not actually sure if I want them to completely die, or simply be a humiliating basket-case for all eternity.

 

I will weigh up these options, whilst I masturbate over the review document :laughing:

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Hewitt1983 Newbie

Hewitt1983

Posted
Posted

The Club raised £70.7 million through ticket sales, commercial revenues and share issue proceeds between May 2012 and December 2013, and spent this relatively quickly, and in some areas liberally, with only £3.5 million of this cash remaining at 31 December 2013.

 

Fucking hell!

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Bobby Connor Newbie

Bobby Connor

Posted
Posted

§ The Club acquired a number of players in Summer 2013 that, based on financial forecasts, it should have known that it could not afford.

 

§ The first team squad has the second highest wage bill in Scottish football for a team currently playing in the third tier. The total player wage cost is well in excess of the level it should be primarily due to generous and poorly structured contracts that were awarded to some players when they joined the Club.

 

§ The ability to influence the composition and cost of the squad in the short term is limited due to existing contract periods and terms. Only a small number of current first team player contracts end in Summer 2014 and the team will require strengthening for the Championship next season.

 

:)

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Clydeside_Sheep Mentor

Clydeside_Sheep

Posted
Posted

 

§ The first team squad has the second highest wage bill in Scottish football for a team currently playing in the third tier. The total player wage cost is well in excess of the level it should be primarily due to generous and poorly structured contracts that were awarded to some players when they joined the Club.

 

 

 

And if they reduce their wage bill to something more realistic, it will expose McCoist for the clueless twat of a manager that he is :laughing:

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Dynamo Mentor

Dynamo

Posted
Posted

"Should the Club suffer a substantial decrease in season ticket income in the next two months, then it

would be unable to trade in the short term without seeking additional external funding as previously

disclosed in the RIFC December 2013 interim results."

 

Would be brilliant if the hun support effectively signed their death warrant :)

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Hewitt1983 Newbie

Hewitt1983

Posted
Posted

Some great passages in there, here are my favourites:

 

The Board considers that the perfect opportunity to rebuild Rangers immediately post administration in a progressive, stable manner with a solid financial base has been completely missed through a series of
ill-defined, short term focused decisions with little advance recognition of medium or longer term requirements.

A current example of the difficulty being faced by the Club, and which will regrettably impact upon supporters, is that for next season supporters will now be unable to pay for their season tickets by credit or debit card. The Club's merchant acquirer, which processes credit and debit card transactions, has advised that it would require extensive security, including standard security to be granted over Ibrox Stadium and an insurance policy at considerable cost to the Club, to protect itself against any potential liability arising from passing on monies from season ticket purchases ahead of next season's matches.

 

The Board believes that one of the major factors influencing the merchant acquirer to change its terms was the extensive negative coverage of calls in some quarters for supporters to refrain or delay purchasing season tickets

.

 

Poor planning and forecasting of cash flows resulted in the Club utilising most of its cash reserves and the Club needing to secure short term credit facilities.

 

 

The Club acquired a number of players in Summer 2013 that, based on financial forecasts, it should have known that it could not afford.

 

 

There is no proper talent identification and scouting operation in place for professional players and at the time when investment in playing talent needed to focus on identifying value acquisitions, the Club dismantled its scouting and recruitment network.

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TwoStars Newbie

TwoStars

Posted
Posted

Roberto will be raging with the latest news.

 

"Amid threat of a refusal by supporters to give season ticket money for the new campaign directly to the club, it is also stated that Rangers are now unable to accept payment for next season by either credit or debit card."

 

Oft!

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Bobby Connor Newbie

Bobby Connor

Posted
Posted

Check their forthcoming targets:

 

Season 2015/16 - Re-establishing the Club in the SPFL Premiership with a top two finish and the ability to challenge for the title

 

Season 2016/17 - Target to be SPFL Premiership Champions and establishing the platform to be competitive in UEFA competition

 

BOOM BOOM! :laughing:

 

2017/18 - Champions League Winners. Lol!

 

This segment could have been written by Vlad Romanov.

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a don in oz Mentor

a don in oz

Posted
Posted

It's funny, it's ridiculous and the money they've pished through is insanity. But The Rangers Mk 2 are still alive so fuck em.

 

I want them dead. I want the entire hun family dead. I want the big hoose burned to the ground. And I want to go there and piss on their ashes.

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Robbie Winters Newbie

Robbie Winters

Posted
Posted

So the bulk of the squillions raised must have been spent on Foster, Daly, Law, Moshi and Sally as the report says a small amount was spent on WiFi and laser pens or something.

And using the same logic they reckon they can raise that amount again within a couple of seasons and be challenging Bayern & Real

 

This report has fair brightened up this driech day

 

Honestly they are tempting the masses to empty their pockets again but in reality by the end of May it could all be futile

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