THE LATE FRIDAY NIGHT press release trick was used by the Rangers last night. We can’t criticise them too much for that because Celtic did exactly the same thing a week before when they sneaked out the news that they were NOT going to back the new resolution that is being championed by Auldheid & co.
It’s NOT clickbait to have an opinion on Res 12 and all supporters will call it as they see it. Many will agree with The Celtic Star’s Betrayal headline, while others will take a more pro-board stance. It will all come out in the wash. Maybe it’s a good time to drop in a tune from Elvis?
Anyway back to the Rangers accounts, where they keep talking about THE CLUB rather than THE COMPANY THAT OPERATES THE CLUB. Here’s the CLUB’S tweet…
Rangers International Football Club plc today published its Annual Report for the year ending 30 June 2019: https://t.co/t5lt5SbcIL pic.twitter.com/QH2RBHRWug
— Rangers Football Club (@RangersFC) November 1, 2019
And now for some reaction on Twitter…
Andy Muirhead, former editor on Scotzine before in became a CQN owned site, had this to say…
“Rangers’ losses by season:
2012/13 -£14m
2013/14 – £8.1m
2014/15 – £7.5m
2015/16 – £3.3m
2016/17 – £6.7m
2017/18 – £14.3m
2018/19 – £11.3m
Total for last seven years – £65.2m
All they’ve got to show for it is the Petrofac Cup.”
Rangers' losses by season:
2012/13 -£14m
2013/14 – £8.1m
2014/15 – £7.5m
2015/16 – £3.3m
2016/17 – £6.7m
2017/18 – £14.3m
2018/19 – £11.3mTotal for last seven years – £65.2m
All they've got to show for it is the Petrofac Cup 😂
— Andy Muirhead (@amuirhd) November 2, 2019
Journalist Brian McNally noted: “Rangers latest accounts show a loss of £11.3m making a total of £25m in 2 years. If this trend isn’t halted they’re heading for FFP trouble & as the auditors warn “going concern” anxiety. Don’t forget Ashley’s bill for “millions” looms & Kent’s £7m fee isn’t in these figures.”
Rangers latest accounts show a loss of £11.3m making a total of £25m in 2 years. If this trend isn't halted they're heading for FFP trouble & as the auditors warn "going concern" anxiety.
Don't forget Ashley's bill for "millions" looms & Kent's £7m fee isn't in these figures. pic.twitter.com/COx9rEQ15A— Brian McNally (@McNallyMirror) November 1, 2019
The Clumpany marvels at the positive spins that the MSM can put on terrible results like this when it relates to their team…”No one – absolutely no one – polishes a turd like the Evening Shark-Jump.”
No one – absolutely no one – polishes a turd like the Evening Shark-Jump. pic.twitter.com/Wy1qeebmXM
— The Clumpany (@TheClumpany) November 1, 2019
“Beyond comprehension how Rangers can increase their turnover by £20.6m from last season yet still post loss of £11.3m with further £10m needed to see out 2019-20.
IMO the next 18mths is monumental, if they don’t win any of the next two titles, funding will dry up in a major way,” Agent Scotland reckons.
Beyond comprehension how Rangers can increase their turnover by £20.6m from last season yet still post loss of £11.3m with further ~£10m needed to see out 2019-20.
IMO the next 18mths is monumental, if they don't win any of the next two titles, funding will dry up in a major way https://t.co/hBOZ8VGcGl
— Inside The SPFL (@AgentScotland) November 1, 2019
Scott McIntyre, replying to that had this to say: “It’s a disgrace how they are allowed to run at massive losses every year since they were formed in 2012. Every other club is living within their means. So when does FFP come in to effect? Never!!”
It's a disgrace how they are allowed to run at massive losses every year since they were formed in 2012. Every other club is living within their means. So when does FFP come in to effect? Never!!
— scott McIntyre (@scottMc85081322) November 1, 2019
The Bunnet picks out perhaps the most crucial aspect of these accounts, one which should but won’t worry the Rangers support.
“Rangers annual accounts – WOW. £11 million pound loss followed by:
“A material uncertainty exists that may cast significant doubt on the groups ability to continue as a going concern”
SIGNIFICANT doubt. Unbelievable.”
Rangers annual accounts – WOW.
£11 million pound loss followed by:
"A material uncertainty exists that may cast significant doubt on the groups ability to continue as a going concern"
SIGNIFICANT doubt. Unbelievable. pic.twitter.com/fr5XuzHUjx
— The Bunnet (@OorBunnet) November 1, 2019
This may give some hope to the hard-up, hard of thinking…
For those who may be thinkin the new Ibrox entity are about to go under…don't worry. Peter will help them. Like he did in the old days
— Richard McGinley (@Richiestoke) November 1, 2019
Only at Ibrox could an £11.5mil loss be classified as a 'positive year'… 😂 https://t.co/1dmfCTbqLe
— 🍔 Gastro Celtic 🍀 (@Gastro_Celtic) November 1, 2019
I don't know if it's been analysed anywhere but Sevco have seriously low cash reserves, 1m. This is quite abnormally low.
current liabilities increased by a third to 49m. They need every season ticket penny in soon, 20s plenty won't happen at Ibrox soon. @Pmacgiollabhain pic.twitter.com/Qdl57ysG69
— JoeBloggsCity (@joebloggscity) November 2, 2019
