Our Support Must Act Now

[Frank The Tank]

Teams need to be more responsible with their finances. Shocking that a couple of years back the only club to be in the black AND turn a profit in the whole of the UK was Hibs! Football isn't exempt from the rules and Rangers debt is piddling compared to the disgusting and irrepsonsible debts of the top ten teams in Europe.

Totally agreed, we should be following the model they have in place in German Football and Super League where teams are only allowed to spend within their means and not use debt to fund the squad. Penalties are dished out for anyone breaking the rules.

This is a different discussion I'd like to have at another time. As its going to bite the arses of a few Premiership clubs if UEFA get their way.

 

[anportmorbhoy]

Plus you have to remember the bank could sell Bougerra, McGregor, Boyd, Davis, Mendes etc for £10m between them potentially - leaving the debt at £21m and then sell for £18m- thats what they'll be thinking - they'll not be rushing into selling to the first bidder

 

[Frank The Tank]

I think someone from Rangers must step forward and tell us exactly whats happening now.The old " Mirrors and smokescreens " are alive and well at Ibrox these days.

Frank
I dont know if the bank will really be that scared that a few Rangers fans tell them they wont bank with them anymore.We need everyone involved to come out and tell it like it is.

I wish this consortium would step out of the shadows as well but maybe its better they're doing things privately. We've all seen the utter lies our newspapers like to print.

The bank will have to take notice, in fact they are already shaken by what has been minor action. Let say 2000 Rangers supporters at an average salary of say £20,000 per annum. If that is taken away instantly that is £40m per annum of investment. What do you think the impact would be if 500 businesses were to switch their bank. I'm not talking about mortgages which would cost the customer around £1k-£2k to switch, I'm talking current accounts and savings, things the banks want their hands on through their own mess.

(and yes I have considered a few Celtic fans switching to Lloyds as a thank you!)

 

[Frank The Tank]

Plus you have to remember the bank could sell Bougerra, McGregor, Boyd, Davis, Mendes etc for £10m between them potentially - leaving the debt at £21m and then sell for £18m- thats what they'll be thinking - they'll not be rushing into selling to the first bidder

Thats the threat that hangs over us in the very near future.

 

[DCooper7]

Anport
That will never happen.We will just need to sit it out if thats the case and hope an investor / fan comes up with the readies.

 

[Maltese Mick]

Celtic are ****ed next financial year. We cleared our debt out but no Champions League football and falling attendances = a loss of about £10m this year which will put us about 10m in debt again. A lot of fans are calling on the board to spend, the same ones who criticised us for clearing debts instead of spending in the past - it was for this very reason that it was prudent to have no debt, as one or two bad seasons and your debt will climb very easily again. In Rangers case the fact they spent a lot of money on players after the defeat to Kaunus instead of paying off debt has directly led to this situation right now.

 

[anportmorbhoy]

Anport
That will never happen.We will just need to sit it out if thats the case and hope an investor / fan comes up with the readies.

Might have to happen Coops

You have to remember the people buying the club will no doubt have a business brain too (to be rich enough they must do you'd imagine) so they too will be sat saying why should i pay £31m now to pay off debts when i can let the bank get the blame for selling top stars and i can nip in and buy the wholy club for £18m and give the other £13m for investment and be trweated as a hero - same £31m outlay - but the better choice

 

[_Jay]

What really pisses me off is the fact the biggest club in Scotland are gettin hounded for 31 Million and the likes of Liverpool and Man U are fukin Hundreds of Millions in debt and they can still go out and spent 15 million on a player ang give out 120,000 a week on one players wages.

It's a fuking joke the sooner some sort of salary cap or spending cap is put in place the better, also the number of Million your in debt should have a straight affect on how much your alowed to spend on players or if your even alowed to buy players attall.

 

[Frank The Tank]

Mick, the club is fine relatively speaking. Its MIH's collapse that has got us into this mess. We spent money before the Kaunas debacle. Lafferty, Miller, Bougherra and Velicka were all bought before that match. Only Davis was bought after it and Cuellar was sold.

That very Cuellar money directly serviced the MIH debt, just like Hutton and just like Davis and the rest will soon. Nothing will go to Rangers. After Lloyds are finished with the players, Murray Park and even the stadium could be next.

I'm not scaremongering here, this is going to happen if Lloyds dont sell. Sadly we're an asset of MIH and their massive debt is being called in. Donald Muir is on the Rangers board to raise funds for this debt and he must be stopped.

 

[DCooper7]

Anport
The £31M does not get them control of the club,it only buys the dept.They will then need to buy out SDM and other share holders.Then invest some cash in the team.Whoever comes up with the readies will need to have plenty and be prepared to wait a long time to make it back if at all ?

Hence the reason they are trying to but the dept on the cheap.We must win the SPL this season or it will be worse,thats another reason why i think we will keep our "stars"

 

[Frank The Tank]

What really pisses me off is the fact the biggest club in Scotland are gettin hounded for 31 Million and the likes of Liverpool and Man U are fukin Hundreds of Millions in debt and they can still go out and spent 15 million on a player ang give out 120,000 a week on one players wages.

It's a fuking joke the sooner some sort of salary cap or spending cap is put in place the better, also the number of Million your in debt should have a straight affect on how much your alowed to spend on players or if your even alowed to buy players attall.

We're not being chased for £31m, its is unclear what Rangers FC actual debt is. Rumours have it at around £20m. Its MIH that are being chased for nigh on £700m and we are an asset of them worth £31m at the current share price. They want this £31m from the sale of the club by Jan 31st (next Sunday) in order to service the MIH debt.

 

[DCooper7]

Sounds like a protest against Muir and Lloyds will need to happen sooner than later Frank ?

Starting tomorrow.

 

[VenomPD]

What is worrying for BOTH Celtic and Rangers is the loss of automatic CL qualification and the loss of the 2nd place CL spot. Would either of the OF get past the likes of Arsenal, Man City, Villareal, Roma in a qualifier? I think our league is seriously ****ed TBH.

 

[Frank The Tank]

Correct Coop, it has to be tomorrow. Next week will be too late.

Venom - Dont be so negative, Rangers horsed Parma who were one of the CL favourites and UEFA Cup holders in 1999 and Celtic skelped Ajax in 2001. We are bigger than we think sometimes, and if our league sorts itself out we could find ourselves in a position to compete again.

 

[Maltese Mick]

I believe we are guaranteed Champions League football to the winner of the league, unless we fall a fair few places down the new table - and even then we will be seeded against the Champions of Switzerland or something. Only second in the league play a seeded team such as Arsenal.

 

[_Jay]

if our league sorts itself out

Dont hold yer breath.

 

[lone ranger]

What really pisses me off is the fact the biggest club in Scotland are gettin hounded for 31 Million and the likes of Liverpool and Man U are fukin Hundreds of Millions in debt and they can still go out and spent 15 million on a player ang give out 120,000 a week on one players wages.

It's a fuking joke the sooner some sort of salary cap or spending cap is put in place the better, also the number of Million your in debt should have a straight affect on how much your alowed to spend on players or if your even alowed to buy players attall.

it is frustrating but just comes down to the league they play in, the money these clubs generate gives them greater power to borrow which will continue until they reach a tipping point and they find themselves in the situation portsmouth are in now. i quite like the idea of something like the german model which was mentioned earlier and would prefer this to a spending/salary cap.

frank- nice one on the article, you keep this end up and i'll cover the raping one legged midget chat

 

[VenomPD]

Aye but that was when we were signing players like Sutton and Prso. Not Lafferty and Samaras. I love the SPL but the standard has sunk to the lowest level in years. It'll take five years to get that second spot back as the Greek, Belgian and Turkish teams are flying right now. Also those leagues can count on more than two teams to perform usually, the weight of success is on OF shoulders in Scotland.

Look at the skelping both teams took in Europe this year. It was a total embarassment. I'm not saying it won't get better in the future but I think we've got another decade of European mediocrity ahead of us.

 

[Frank The Tank]

I see where you're coming from, our opportunity to expand the league and acutally make our football a respectable and sustainable force was 1998. I have another article bubbling up over that issue, you'll get your chance soon enough to vent your spleen over the titheads running our game.

We cant blame the league for our problems though, Sir Davey ****ed us and now the bank want to shag us. Basically the bank have just seen a stunning blonde with big tits lying in a ditch with 2 broken legs and they want to shag her till she dies.

 

[VenomPD]

Too true Frank. I have lots to say about the SFA, the SPL and the muppets who own Scottish teams. But like you say that is for another thread.

Can't disagree with your comments about the bank. They've pretty much bent Rangers over and said "Take this, bitch" As you mentioned this has little to do with Rangers themselves and more to do with MIH's ridiculous debt.