They are burning cash at around £1million per month (or more). £1.5 million is a six week stay of execution. They are just kicking the can down the road a little. Might not even take them to season ticket time.
I've just got some great news there. Just got an unexpected windfall of £1000 from Wonga.com. I don't have to start paying it back for a month.
Phil mac blog today , thinks the 1.5 million loan is to cover the cost of administration . Is he right again ????
To be fair its not actually a Loan as such - it just dilutes the shares further by giving the easdales more of them......now why would they want more shares??
I just got an email from Rangers' chief exec, Graham Wallace. No joke, I really did. He asked me to complete a survey on the future running of the club. Clearly some comedian has put me on a mailing list (I blame my brother). Anyway, gave me the opportunity to have a right good rant at them. The enemy within...
its laughable though. Bleeding money and rather than take some action and cut costs they just seek money from elsewhere and get deeper in the ****e Then you have McCoist saying they need money to compete with Celtic Rather than try and run the club right and generate money they think they have a god given right for a surgar daddy to just throw them millions. If it wasnt so funny to see I might feel sorry for them
Some fans (and some people like Derek Johnstone) cannot seem to get their heads round the fact that Rangers cannot just start spending big money to get quality players like they did in the past. They will never learn, their fiscal policy is to buy themselves out of trouble despite the fact that they don't have any money.
It may have been a survey monkey thing but the email came directly from Graham Wallace or, more accurately, Graham Wallace <[email protected]>; It was good fun, though. I gave him lots of excellent advice.
Dontcha know another dodgy Dave is on his way? Well, once he gives back all the munchengladbucks he stole. Buy the Daily Record more, it's usually on the money with their reporting on all things Rangers
I listen to the clyde podcast from time to time, the rubbish spouted on it never fails to amaze me (by both Celtic and rangers fans). it does generally seem to be the line that once rangers are in the spfl they will spend in the region of 15 million on new players. quiet where this money is coming from is never pointed out. I deal with people who are in financial difficulty at work and the amount of people who think borrowing money to get out of debt is a good idea still shocks me, I try and explain that by getting into more debt they are making it harder for themselves to get out of debt. people do not want to hear this so do it anyway. it is the same with rangers, the fans do not want to hear that they need to cut their cloth accordingly, they want to hear "warchest" and "challenging celtic" the bbc sportsound podcast had a financial expert on who was saying the 1.5 million was for working capital, that is to help them with day to day running cost. I would guess that they are hoping the money gets them to the semi final of the Scottish cup and the revenue from then gets them to the end of the season and season ticket sales get them through until they raise a new share issue it would back up phil's blog from the other week where he said they were going to the dodgy lenders seeking cash.
So you subscribe to one or more of the official Rangers news/update functions do you? Bit weird for a Sellick fan but ok.
Wallace has sent that e mail to 1.2 million Rangers fans world wide according to the Daily Record . 1.2 million !!!!!!!
Just read that and spat my coffee all over the place. Why not ask them all for £1 each? Oh that's right, cos they don't exist! The Daily Record
