Kieran McGuire is an academic, an author and broadcaster and more importantly is an accountant who studies the finances of football clubs. So I think he knows a bit more than me and you when it comes to number crunching.
So I’m not disputing Kieran’s knowledge and credentials. He’s obviously very knowledgeable in his field. That doesn’t mean you can disagree slightly on some of his findings, even the most intelligent of folk, more knowledgeable than Kieran have got some things wrong now and again. We’re all human after all.
‘You don’t need to be a genius to know something doesn’t add up’
Kieran caused a bit of a drama on Twitter the other day when he had a sly dig at the Celtic supporters. Nothing malicious just a bit of harmless banter, something twitter is in short supply of.
He of course in a sarcastic way said that sixty thousand Celtic supporters are more financially knowledgeable than the leading experts in the UK.
That is quite funny to be fair, and to be honest we have an element in our support (not sixty thousand) who seem to delve into the financial affairs of the Ibrox club a little too often.
Predicting jelly and ice cream time again on a regular basis, with little or no knowledge of the inside dealings at Ibrox. Nothing wrong with that I suppose it’s a free world and your entitled to your opinion after all. It’s just not for me.
That said you don’t have to be a financial genius to know there is a something wrong at Rangers regarding finances. Not armageddon, but there is a case to be heard regarding a cash crisis of sorts at Ibrox. Ever since the rise of the club in 2012 they have been splashing a hefty amount of cash while losing it just as heftily. They can’t even float on the stock exchange and don’t always have their accounts timeously audited.
Not to mention being propped up on interest free loans by generous investors just to see campaigns through. Indeed just recently they confirmed plans for yet another shares issue. The numerous law suits with Mike Ashley won’t have help their cause either. That was of course instigated by the shoddy kit deal they had with the Sports Direct supremo. They still apparently receive well below the market value from current suppliers Castore, and the links to Ashley appear to be still there, if maybe a step or two removed these days.
The money they received from their European run last season and the transfer of Calvin Bassey would have helped, but yet again they still posted a loss. This is a club with forty odd thousand season ticket holders remember. They shouldn’t be in such a financial mess.
James Tavernier of theRangers reacts after a missed opportunity during the Cinch Scottish Premiership match between Celtic FC and Rangers FC at on April 08, 2023. (Photo by Ian MacNicol/Getty Images)
Celtic are on the same financial landscape as theRangers and we are light years ahead of them in that department. If Celtic can boast a massive turnover and regular profits why can’t they? just like oldco, newco are trudging the same murky waters, but no one questions it, not the media or their own supporters. Like they always do, they bury their heads in the sand while lapping up opinions like Kieran’s and telling the world all is rosey.
So while Kieran knows best and he says the Ibrox club are on the road to be financially stable you have to take his word on it. That doesn’t mean you can’t challenge his consider opinion. You hardly need to be a genius to know something isn’t right at Ibrox financially. Even the best are wrong now and again.
JustAnOrdinaryBhoy – follow on Twitter @ordinarybhoy
Here’s some of the highly credible Rangers Tax-Case account response to Kieran McGuire’s little dig at the Celtic support.
‘theRangers financial position (from one of 60,000 experts in the east end of Glasgow). Their position is now a little worse than the dead Rangers club they were built to emulate.
‘The old Rangers club lost an average of £7.8m per season under David Murray. The new Rangers are losing an average of £11.1m. The old club had the benefit of a tax fraud that reduced costs. The new club wasted lots pretending it was a big club while in the lower tiers.
‘Old Rangers and the clone Rangers have several problems in common. Celtic’s bigger stadium and the ST and match day revenues that brings. Celtic’s commercial machine is firing on all cylinders and brings in much more revenue.
‘theRangers need to spend big to stay in arm’s length of a well managed Celtic. Of course, you knew this already. Some media darling “genuine expert” from England must have told everyone first.
‘theRanger were designed to recreate Rangers. They have done so very well. The new club has the same financial issues as Rangers built in. 
‘Celtic have a built-in financial advantage over any Rangers type club. Something is always needed to create a tilt in the other direction. That has been tax fraud in the past. Many suspect refereeing has been used to similar effect, but that is inherently difficult to prove.
‘We have seen about 35 years of Ibrox clubs spending money they don’t have. Some people have lost a lot of money on these two clubs. How long can it continue?
The Rangers accounts are up to date, next one is end June 2023 which will be published prior to result being due at companies by end march 2024.
The Loans keeping The Rangers running are not interest free, a favourable interest rate is in place for paying back, not due until 2028.
Some loans have been paid back with the share issues raised, that however dilutes the true value of shares, for example if a clubs total worth is £100 million and a club have raised share issues of £500 million it does not make the club wealthier, that is just an example of finance.
Certain directors are keeping The Rangers going with granting loans and buying shares at 25p each, the shares are only worth what someone will pay, unfortunately The Rangers share price is so far diluted that Dave King is unable to sell his.
The Rangers do need to bring finances under control as I can’t see certain directors being able to lose money so easily.
At the moment the club does not seem to be self sustainable but it is paying its debts by the aid of directors who are fans and want better.
Can it continue, only time will tell.
I believe their fanbase is the problem,,no one likes their behaviour, very undesirable lot, busnessmen wont invest because its not a very well run club/company
Well they will recoup some more money when Celtic visit in the split fixtures as they always increase their prices when the big teams come to play them.
Their won’t be any Celtic fans in the manky stadium but wouldn’t surprise me that they hit their scum delusional fans with an increase in ticket money lol
The important account however is Celtic 3 Rangers 2. “Along the line the signal flew, Celtic 3 and Rangers 2”
“On Saturday night I went to bed, with Celtic now 12 points ahead”.
DP
McGuire is a turd polisher,more important and knowledgeable experts about than him