Edmiston House and more seats or success on the park?

Rather than tapping John Bennett for more dough, we should be spending some of our own cash imo. I'm absolutely no fan of RW or the Academy for that matter, however if we can get another Bassey identified we can reinvest.
 
We do need to compete with the crash barriers. If they're spending, we need to match/get close to it, to back our manager, or as many have stated on here, the spenders generally win the prizes.
Agree. Trouble is they seem to have a more mature and effective player trading and scouting process in place. Without placing too much faith in internet rumour, Juranovic and the Greek striker seem to be up for offers. Wilson did say yesterday that they'd previously received offers for Kent and Morelos but considered amounts on offer were less than ongoing value to club.
 
With the amount of money being funnelled in to these projects and the amount of investment required in the playing squad do we think this is a good use of funds.

It’s going to take in the region of 10 Years for Edminston house to turn a profit.

In the mean time we are potentially going to struggle with poor investment in the first team which turns in to a vicious circle.

What’s everyone’s thoughts?

Everyone has been howling for Rangers to build a museum & improve the match day experience for as long as I can remember.

The disabled facilities are a disgrace & are badly needing an upgrade. Why should our disabled fans be treated like second class citizens?

Now both these things are happening, people still aren’t happy?
 
The boards idea of success is one league title and one domestic cup every 4/5 years. In the real world fans will always say winning trophies is more important
Don’t think it should be a choice, both aren’t exclusive but it does seem as if we’ve wasted much needed funds on vanity projects
I never cease to be amazed by some of the the bampottery on here and it makes you question the motives behind comments like this.Your first statement is total nonsense no one believes that.
Regarding Edmiston House fans have been crying out for years about having a museum and better facilities.The Club are now in a position to deliver it and suddenly its the clichéd "vanity project" Edm iston House will provide what fans have been asking for and it will also be a revenue generator.
 
I never cease to be amazed by some of the the bampottery on here and it makes you question the motives behind comments like this.Your first statement is total nonsense no one believes that.
Regarding Edmiston House fans have been crying out for years about having a museum and better facilities.The Club are now in a position to deliver it and suddenly its the clichéd "vanity project" Edm iston House will provide what fans have been asking for and it will also be a revenue generator.
I think the original idea was good but the wrong timing. Im looking forward to going to it but it’s evidently had an impact on our ability to improve the first team squad, along with the blue sky lounge upgrade
I honestly think the current board want edminson house as a legacy, therefore falls under the vanity comment. It isn’t meant to be a major criticism as I understand the costs have sky rocketed since work started
 
100%. Too many at the club from the boardroom to the dressing room thought 55 was "job done". As far as I can see the only ones who didn't were Gerrard and his staff, and I still believe if they'd been backed with 2 or 3 big signings they wouldn't have gone.
Have to agree , our most vocal director had already told everybody that as soon as won one title our closest rival would “ fold like a deck of cards”.

In answer to the OP, we have to do everything there is no option but to keep investing in the squad and the non playing side.

This board have had to pick up the stadium neglect from the tail end of the Murray era and three years from the rogues that infested our boardroom.

They have no option but to prioritise spend on Health and Safety matters and any legislation changes. The training facilities , technology, youth football, charitable work all need to be funded as indirectly they will quickly impact on the players if we don’t keep up.

As fans the tendency is to prioritise the playing side however as soon as that new player lands we all selfishly attack the club for website issues, state of the ticket office, 150th celebration events, playing surface, discoloured seats and funding vanity projects. Then we also claim we are being “ripped off” for MyGers and CL tickets.

What a thankless job those board members have.
 
With the amount of money being funnelled in to these projects and the amount of investment required in the playing squad do we think this is a good use of funds.

It’s going to take in the region of 10 Years for Edminston house to turn a profit.

In the mean time we are potentially going to struggle with poor investment in the first team which turns in to a vicious circle.

What’s everyone’s thoughts?
For me it has to be the team on the park. Yes I want to see our museum,but not at the cost to the first team and that should be the priority.
 
One thing I have noticed with the comments this far is that (like the AGM) no one has mentioned the cost to the club of its various legal battles. Granted we had to settle with sdi but if this had been handled better, we would have had the money to do the new disabled sections, the creation of the Blue Sky Lounge and still have cash left over to make a start on the expansion at the fronts of the Copland and Broomloan Rear stands. How many other disputes are or have been draining the clubs resources? Original Memorial Garden company, Sydney friendly organisers, Hummel/Elite, SFA Cinch deal are the ones that spring to mind. Stop this and improve the recruitment and we’d be in a much better place all round.
 
I never cease to be amazed by some of the the bampottery on here and it makes you question the motives behind comments like this.Your first statement is total nonsense no one believes that.
Regarding Edmiston House fans have been crying out for years about having a museum and better facilities.The Club are now in a position to deliver it and suddenly its the clichéd "vanity project" Edm iston House will provide what fans have been asking for and it will also be a revenue generator.
If it costs 15 million in total it will take at least 15 years before it pays that money back and a million profit a year is a lot to expect.
 
For me it has to be the team on the park. Yes I want to see our museum,but not at the cost to the first team and that should be the priority.
I totally agree once we are regularly competing then by all means build or invest on anything we can we are along way from that and being left in their slip stream as that’s them just about signed another 3 players of a decent level.
 
Everyone has been howling for Rangers to build a museum & improve the match day experience for as long as I can remember.

The disabled facilities are a disgrace & are badly needing an upgrade. Why should our disabled fans be treated like second class citizens?

Now both these things are happening, people still aren’t happy?
Time isn’t right,

Disabled access yes it should be sorted and should have been long ago.
 
Edmiston House will be the millstone around the boards neck for years to come.

The cost of it is eye watering and spiralled way above initial cost and it's not even going to be ready for the 150th annivesary. Fine if you have the product on the park running smoothly but we don't and if anything, we're up shit creek in terms of finances for a rebuild.

That money should've been funnelled towards the team on better players. Better players means more profit in sales and then you begin to branch out to concert venues and museums.
 
Edmiston House will be the millstone around the boards neck for years to come.

The cost of it is eye watering and spiralled way above initial cost and it's not even going to be ready for the 150th annivesary. Fine if you have the product on the park running smoothly but we don't and if anything, we're up shit creek in terms of finances for a rebuild.

That money should've been funnelled towards the team on better players. Better players means more profit in sales and then you begin to branch out to concert venues and museums.
This comment is spot on in my eyes.
 
If it costs 15 million in total it will take at least 15 years before it pays that money back and a million profit a year is a lot to expect.
My understanding is the cost is more like 10 million but I can stand to be corrected if anyone has reliable figures from a genuine source.That aside the project and the financing of it will have been costed.its not as if the Club has went into the bank account and handed over 15 million.The cost will be spread over a number of years and in the meanwhile the facility will be generating revenue from day 1.Remember there is the money from the Albion Car Park to come plus the 10 million facility made available by John Bennet to factor in.
 
My understanding is the cost is more like 10 million but I can stand to be corrected if anyone has reliable figures from a genuine source.That aside the project and the financing of it will have been costed.its not as if the Club has went into the bank account and handed over 15 million.The cost will be spread over a number of years and in the meanwhile the facility will be generating revenue from day 1.Remember there is the money from the Albion Car Park to come plus the 10 million facility made available by John Bennet to factor in.
Say it is 10 million and it makes 1 million a year profit that’s a long time.

As for this 10 million overdraft from Bennet sure it’s good of him but he’s getting 6% interest on it then it will need to be repaid when season ticket money comes in.
 
I think the original idea was good but the wrong timing. Im looking forward to going to it but it’s evidently had an impact on our ability to improve the first team squad, along with the blue sky lounge upgrade
I honestly think the current board want edminson house as a legacy, therefore falls under the vanity comment. It isn’t meant to be a major criticism as I understand the costs have sky rocketed since work started
There is never a "right time" the longer you delay a project like this the more it will cost.Most businesses have separate budgets for capital projects and day to day running.This project will be financed over a number of years which will be offset by the revenue generated during that time.
 
Everyone has been howling for Rangers to build a museum & improve the match day experience for as long as I can remember.

The disabled facilities are a disgrace & are badly needing an upgrade. Why should our disabled fans be treated like second class citizens?

Now both these things are happening, people still aren’t happy?

Precisely. People have been whining for a museum for about 25 years. They would have whined from 1978 to 1981 that the team wasn't winning the Treble every year and we should stop trying to modernise the stadium. That eventually paid for itself in the long-term. These kind of projects do. You cannot spend every penny on the first team. That's Murray era level of thinking.
 
Edmiston House will be the millstone around the boards neck for years to come.

The cost of it is eye watering and spiralled way above initial cost and it's not even going to be ready for the 150th annivesary. Fine if you have the product on the park running smoothly but we don't and if anything, we're up shit creek in terms of finances for a rebuild.

That money should've been funnelled towards the team on better players. Better players means more profit in sales and then you begin to branch out to concert venues and museums.
This is spot on. We are a football team not a business. If this had been polled to season ticket holders I doubt more than 5% would have prioritised building an events venue over spending £10 million on the pitch.
 
Say it is 10 million and it makes 1 million a year profit that’s a long time.

As for this 10 million overdraft from Bennet sure it’s good of him but he’s getting 6% interest on it then it will need to be repaid when season ticket money comes in.
The 10 million building cost is spread over a number of years during which time the revenue the facility generates will be offset against that cost so its not as simple as handing over the money up front and having to wait years to recover it.
The 10 million overdraft facility doesent necessarily have to be used.It may be dipped into if required but won't be paid back in one hit from season tickets.
 
There is never a "right time" the longer you delay a project like this the more it will cost.Most businesses have separate budgets for capital projects and day to day running.This project will be financed over a number of years which will be offset by the revenue generated during that time.
That’s a fair point, suppose if they left it a year or 2 then people would’ve been questioning it at that point too. Just struggle a bit with the funding element when it was clear they’d ran out of money so needed to ask for additional funding from fans/investors. That indicated they didn’t have a contingency for any overspend which will have had an impact on playing budgets by default
 
The 10 million building cost is spread over a number of years during which time the revenue the facility generates will be offset against that cost so its not as simple as handing over the money up front and having to wait years to recover it.
The 10 million overdraft facility doesent necessarily have to be used.It may be dipped into if required but won't be paid back in one hit from season tickets.
The big unknown in all of this is assuming Glasgow which has loads of events venues really has a need for another one. The hospitality industry has never been weaker in Scotland with rising energy costs so there is no guarantee its going to turn regular profits straight away. Its a massive risk to take throwing £10 million away on a project like this and even on a best case scenario its going to take years to show a return for us.
 
My understanding is the cost is more like 10 million but I can stand to be corrected if anyone has reliable figures from a genuine source.That aside the project and the financing of it will have been costed.its not as if the Club has went into the bank account and handed over 15 million.The cost will be spread over a number of years and in the meanwhile the facility will be generating revenue from day 1.Remember there is the money from the Albion Car Park to come plus the 10 million facility made available by John Bennet to factor in.
I don't believe the £10m rumour is true. It looks like someone has taken the number from the accounts and decided it was for NEH when in reality it covered several projects within Ibrox and the training complex also.

Because Bennet put security against EH doesn't mean the money is for EH or that is the cost of the build.

On top of that money was invested by the founding fathers group to cover this specific project. A 7 figure sum and the rest from a share issue. The money wasn't just sitting there available to use to spend on the squad.
 
The 10 million building cost is spread over a number of years during which time the revenue the facility generates will be offset against that cost so its not as simple as handing over the money up front and having to wait years to recover it.
The 10 million overdraft facility doesent necessarily have to be used.It may be dipped into if required but won't be paid back in one hit from season tickets.
How can it be spread over years when it’s been built ?
 
You can't ignore infrastructure projects, a lot of the things the board are, correctly, doing should have been done 20 years ago.
They have already made big improvements to Ibrox.
Totally agree - we need the bedrock for a long term firing on all cylinders football club. Investment in squad will inevitably be offset by these alternative investments made but I don’t think anyone can complain given the enduring benefit of the infrastructure investment. We are thankfully a good bit progressed from when we were sinking a good few million annuallly on stadium repairs
 
How can it be spread over years when it’s been built ?
The cost is spread. Like a mortgage, a bank loan, finance on your car, paying off a credit card, a bank overdraft.
I don’t think it was planned to build a bit this year, then another bit next year and so on for 10 years.:oops:
 
The cost is spread. Like a mortgage, a bank loan, finance on your car, paying off a credit card, a bank overdraft.
I don’t think it was planned to build a bit this year, then another bit next year and so on for 10 years.:oops:
All the trades wanting paid up over a period of time? Doubt it. And we haven't borrowed from a bank etc to fund this. The money must be coming out of our revenues or director borrowing.
 
Agree with this. Matchday experience has been a long time complaint on here, they are now trying to help this and they get moaned at.

"Matchday experience" isnt on the agenda for ordinary fans. If you're corporate or have some other special characteristic fine but if you're just an ordinary punter that enjoys a decent atmosphere then forget it. There's always the Louden to look forward to.
 
The club should be improving and pushing on all fronts as much as they can. It is the only way to build for the future.
 
Don't think the value of squad investment is the problem. It's the quality returned from that investment that has been lacking.

This is where wee Ross has failed.
 
Precisely. People have been whining for a museum for about 25 years. They would have whined from 1978 to 1981 that the team wasn't winning the Treble every year and we should stop trying to modernise the stadium. That eventually paid for itself in the long-term. These kind of projects do. You cannot spend every penny on the first team. That's Murray era level of thinking.
It’s genuinely stupid thinking that way.

There is a balance to be found of course but both can, and should be done.

It’s like the people shouting “think of the schools and hospitals “ when the government spends cash on something not deemed absolutely essential.
 
The best revenue stream is winning the league and gaining automatic entry to the group stage of the CL.

Our current board seem to be happy to allow the Tims to do this year on year.
 
The cost is spread. Like a mortgage, a bank loan, finance on your car, paying off a credit card, a bank overdraft.
I don’t think it was planned to build a bit this year, then another bit next year and so on for 10 years.:oops:
I thought Bennet was financing it along with another director in which case we are also paying 6 percent per annum on top.
 
You can't ignore infrastructure projects, a lot of the things the board are, correctly, doing should have been done 20 years ago.
They have already made big improvements to Ibrox.
This is the thing. Supporters want us to spend money on infrastructure projects. And training facilities. And Ibrox upgrades (after years of neglect). And Edmiston House. And buy players. And retain our best players. We don't do any one of these things and people are moaning. 'Why are the training facilities crap'. 'Ibrox is a disgrace'. 'Why no museum'. 'Why we not signing him'. 'Why we selling him'. There needs to be a reality check. There is only so much money we can generate in Scotland, so consequently there is only so much money we can spend.
 
This is the thing. Supporters want us to spend money on infrastructure projects. And training facilities. And Ibrox upgrades (after years of neglect). And Edmiston House. And buy players. And retain our best players. We don't do any one of these things and people are moaning. 'Why are the training facilities crap'. 'Ibrox is a disgrace'. 'Why no museum'. 'Why we not signing him'. 'Why we selling him'. There needs to be a reality check. There is only so much money we can generate in Scotland, so consequently there is only so much money we can spend.
So spending upwards of 10 million on Edminston house currently isn’t a good idea.
 
All the trades wanting paid up over a period of time? Doubt it. And we haven't borrowed from a bank etc to fund this. The money must be coming out of our revenues or director borrowing.
First the finance is arranged by the board, in the same way all our expenditure is, which it was before building started. Trades are paid as normal and whatever finance we used to do that, is dealt with over 10 years. Quite normal.
I thought Bennet was financing it along with another director in which case we are also paying 6 percent per annum on top.
Bennet has offered a draw down facility of £10 million to see us over poor cash flow periods, historically Jan, Feb. Some or all may be used or none. I doubt if any of it is ring fenced and no financing from anywhere will be interest free.
 
First the finance is arranged by the board, in the same way all our expenditure is, which it was before building started. Trades are paid as normal and whatever finance we used to do that, is dealt with over 10 years. Quite normal.

Bennet has offered a draw down facility of £10 million to see us over poor cash flow periods, historically Jan, Feb. Some or all may be used or none. I doubt if any of it is ring fenced and no financing from anywhere will be interest free.
Do you know how it is being financed since the part sale of the car park fell through?
 
With the amount of money being funnelled in to these projects and the amount of investment required in the playing squad do we think this is a good use of funds.

It’s going to take in the region of 10 Years for Edminston house to turn a profit.

In the mean time we are potentially going to struggle with poor investment in the first team which turns in to a vicious circle.

What’s everyone’s thoughts?

I get your concerns and share them, but the reality is that we can't find another 7000 seats with which to compete with celtic and must find additional revenue sources to compete long term. Forever is a long time, and if we have managed to bridge that gap to some degree in however many years it takes, it will be worth it.

The real culprit here is Murray. If current board took over Rangers in the late 90s or early 00s, we probably still have a very long fallow period. Similar to celtic 86-2003 with a few titles. Perhaps not quite as long. But we'd come out the other end stronger and on a totally even footing. The reality is that his %^*& ups which led to Whyte have added on an extra decade of misery before they could even get started. And I write that as someone who often criticises them.

In saying that, as this is an anonymous forum I'll speak truthfully cause I'd never put my name to this: I wouldn't add in the disabled section yet. I'd apologise and offer sweeteners, but I'd add in the extra 1800 seats first and work on improving disabled access from a position of greater strength which might be a decade away.
 
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