Daily record look to David "sevco" Low for expert opinion on our finances

1. We are getting £3M upfront from Castore which was confirmed by the founder when interviewed after the announcement.

2. We have a credit facility with Close Brothers (which celtic fans bang on about regularly)

3. Season tickets and MyGers subscriptions are bringing in literary millions.

4. Don't buy, click or share the record coz garbage like this is all you will get from them.
Incoming £20m + investment as well mate and multiple sellable assets. We’ll be fine
 
It’s the pish about shares being devalued if Directors convert loans to shares. So what. This doesn’t affect the club one iota yet they bang on about it being bad. Yeh my % of my share ownership goes down everytime but I still have shares and I’m not investing to gain value. It’s an emotional investment. These so called finance experts are mhuppets.
 
Another bit is they have a billionaire owning the club. Aye a billionaire who has invested initially, never put a further penny in and takes 6% dividend yearly. Yeah, must be great having that commitment to the club!!
 
I generally believe shooting down one leg of a so-called expert’s story is enough to discredit the whole piece but on this occasion I’ll go for two.
1. According to Low we won’t be getting a large advance from Castore, yet Tom Beahon has said on the 4LHAD interview that we have an upfront payment of £3 million pounds on day one.
2. He seems to claim we have an over reliance on match-day revenue, presumably implying that since we aren’t going through the turnstiles there is no income, yet we have the balance of the 19/20 season match day season ticket revenue which few, if any, of us are looking for back, plus most of us are buying season tickets in the the knowledge that we probably won’t be in the stadium to see matches at least in the early match days of season 20/21.

It shouldn’t by now but, despite the number of times it has happened, I am still frequently amazed at how thick some supposed experts can be.
 
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that's funny his name has popped up, watching old things on YouTube during lockdown, a old Rangers v Tim subject and he comes up at the start of the interview his name appears and underneath it says Scum supporter, same guy on BBC News all the time during our troubled times
He’s one of the worst examples of the bitter lowlife scumbags who are obsessed by RFC. A filthy creep who should shut his lying mouth...and that’s me holding back to avoid a ban!
 
He is not privy to either our kit deal or theirs, so why he feels he is in a position to comment without any basic knowledge of the deals is just bizarre.

I was under the impression we received a £3m upfront fee with Castore, so if true then that just means David Low is talking complete shite. We are Castore’s highest profile sports club, they are young and hungry and will be putting a lot of time, effort and money into the agreement to ensure it is a success.

Whereas the Tims will get an off the shelf design, they will be way down the list of priorities of a company that has just borrowed £3bn to keep the lights on. Adidas are blaming the pandemic, but I am quite sure I read Nike’s sales did not fall off the edge of the cliff like Adidas sales did, which hints at other issues at play.

Either way, given all of the above, I would rather have a company like Castore, with new, serious cash investors behind them, at the moment.

If you actually go into detail on Rangers financial standing and assets, and compare it to the other half, then it is not as black and white as they will have you believe, even after GCC have went out their way over the last 15 years to assist them financially. They are dependant on either CL money every season or selling an asset (it appears to be Ajer they want out the door this year, given the bizarre and untrue stories of Milan and Real being interested in him. Guessing Edouard and McGregor are too important to them this coming year).

Someone like Dermot Desmond has no intention of using all the cash reserves in the business to plug the gaps caused by coronavirus, just look at British Airways handling of their cash reserves. Also, unlike the Tims, we at least actually own our stadium, which you would think is most clubs biggest asset.

The Daily Record is just dying a slow painful death, lashing out and swinging at anything that might give them hits. On one hand it is sad and desperate, yet it is also beautiful to see at the same time. Circulation down from 454k to 104k in 14 years. Out of business by the end of the decade I think. Ooft!!
 
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As was mentioned on the 4lads & Castore pod, suppliers like Adidas / Nike etc do give large upfront advances in kit deals that Castore won’t. What this muppet (or the rag) doesn’t mention, is that these “bigger” suppliers require the clubs to buy certain gear from them as part of that contract meaning they get the advance back.
The deal with Castore has a smaller advance but greater overall control for each party as well as larger long term benefits like shirt sale contributions.
This article is simply a case of sour grapes from this area of the press that has been put out by our preference in using fan media (H&H, 4 lads etc) over their dying papers.

These articles are the last bit of fight from a wounded and dying beast which although annoying and painful atm, will wither away if it continues to be excluded.
 
You could travel the world and not find a more bitter mentally challenged than Low.

We occupy his every thought and is incapable of an impartial view on us.

An absolute worm of a man and a particularly ugly one at that.

Despise him.
 
1. We are getting £3M upfront from Castore which was confirmed by the founder when interviewed after the announcement.

2. We have a credit facility with Close Brothers (which celtic fans bang on about regularly)

3. Season tickets and MyGers subscriptions are bringing in literary millions.

4. Don't buy, click or share the record coz garbage like this is all you will get from them.

Edit - If they were anything other than gutter press, they would fact check this before printing it. It's not difficult to find out everything he says about Rangers is false.

Europa league money to come from UEFA as well which normally gets paid out at the end of the season.

Poor Heavidor (his Twitter name) had bad news when resolution 12 got kicked into touch so only fair Ewing allowed him a sevco outburst in public to make himself feel better again.
 
The mind boggles with this lot.

The sooner the record goes down the toilet the better. Can’t believe people buy and read that trash.

Literally written a nothing article. It’s completely irrelevant who’s got what in the bank for starters, then there’s the rest of the pish.
 
Another bit is they have a billionaire owning the club. Aye a billionaire who has invested initially, never put a further penny in and takes 6% dividend yearly. Yeah, must be great having that commitment to the club!!
Absolutely.
Don’t know if it’s still the case but a number of years ago O’Neill as well as Desmond had preference shares returning 6 and a bit percent which equated, if memory serves, to a guaranteed 3-ish million a year between them whether the scum make a profit or not.
 
"Rangers and celtc have the two biggest wage bills."

Very convenient to just lump the two together and fail to mention that the hobos' wage bill is almost double ours and that their £4m or so advance is going towards a £60m wage bill whilst our zero(so he thinks) advance won't dent our £30m wage bill. It doesn't take a fucking genius to figure out the biggest deficit of those two examples.
Once again the papes think they know more about Rangers' finances than Rangers themselves.

Deluded mentally challenged wankers.
 
Aye because we’ve got no kazillions We’re skint and nobody has covered how this shortfall will funded. Nope not once. Why even bother if you can’t be arsed looking into things when you’re an expert.
 
If someone can post the whole article from the record.

Heres an extract -

"
David Low, who was Fergus McCann’s financial advisor when he saved Celtic from bankruptcy in 1994 and who currently co-owns the Glasgow Rocks basketball team, believes the figures make grim reading, particularly for Rangers.

“It’s an imperfect storm for them,” he claimed. “Scottish clubs’ over-reliance on match-day revenue is a general problem but Celtic and Rangers also have the two biggest wage bills in this country. However, while Celtic have signed a lucrative new deal with Adidas, Rangers will be having their kits manufactured by new boys Castore, which means that – unlike Celtic - they won’t receive a large advance from them.

“Add to that the fact that Rangers have no cash reserves while Celtic have £35 in the bank and that Rangers have no credit facilities with any bank and it’s an unhealthy place for them to be in at this particular point in time. They have no cash or access to cash and the only way out of that I can see is for their directors to issue even more loans and eventually convert them in to equity, which has the effect of further devaluing the worth of the club’s shares.

“Celtic fans regularly criticise major shareholder Dermot Desmond but they should be careful what they wish for. There’s never been a better time for any club to have a genuine billionaire on hand.”
"

Oh ffs we're going bust again!!!

Is that the reaction they want with these non stories, it really is feckin pathetic that a paper has to print such shit, what the feck does David Low know about our current finances.
 
“There’s never been a better time for any club to have a genuine billionaire on hand.”"

Fuçk sakes. The absolute embarrassment at writing such drivel!
 
Next week in the record, Gerry McCann writes about best places for family holidays.
Bet they’ve all got Tapas bar. What else would you need on holiday with doctors wages and 3 young kids.
Crèche? No way are we going somewhere with pancakes, Tapas and that’s it. It’s all we need.
 
In a perverse way, I think these sort of articles are quite funny. It shows that:

a) they are running scared, and

b) 55 is going to be so, so fucking sweet. If we do it this year, then it will be the biggest GIRFUY in history.

Let’s Go.
 
Probably why Pete wants league dates ASAP so he can talk people into buying a ST. Ours buys them anyway because we know it’ll be made up and we’ll help the Rangers. Our club love us. Their club think they’re a pain in the arse who probably won’t buy unless they’re going to get a chance to see the Rangers. With the uncertainty I’m sure they’re desperately waiting to get in a ballot to see the Rangers. Until then Pete should head to japan to sell a bag of rice, it be more beneficial. We’re who people want to watch.
 
You could travel the world and not find a more bitter mentally challenged than Low.

We occupy his every thought and is incapable of an impartial view on us.

An absolute worm of a man and a particularly ugly one at that.

Despise him.
Sums up the current state of the SMSM when well known Rangers haters get interviews which are passed off as some sort of credible source of information.
Then they complain when the club rightfully denies them exclusives and interviews with new signings.
 
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I for one am shocked and stunned, stunned I tell ya, that friend of Phil and lunatic Sevcoholic David Low is predicting financial armageddon for us.
Who'd a thunk it?

Seriously what do you expect?
 
Another rabid insane mentally challenged crackpot having his comments produced by a mentally challenged crackpot rancid Scottish newspaper.
%^*& them all...Don't buy that pish and don't vote for that scummy separatist Scottish (republican) National Party run by the blinky hesitant stomper wee nippy either.
 
I know it gives the majority of the board something to discuss however I'd just completely ignore the MSM when it comes to our finances.

We've had every "expert" under the sun saying we're skint/going burst etc since King and the 3 Bears came in.

Nothing is ever positive with this mhob.
 
Why do the great unwashed never look at their own Finances?

From what I can gather they have just freed Kouassi, Simunovic and Hayes, those 3 players alone cost them roughly 8.5 mill in transfer fees and many millions more in wages, that’s a huge outlay with nothing brought in, if that were Rangers the Sevcoholics would be all over it in a flash.
 
For all Celtic’s free run while we were in the lower divisions etc al - their advantage is six months of wages. Should have done better.
It’s quite mental when you think of it like that. We have a bit of catching up do but money doesn’t last long in football. There should really have been more to last longer. Although I’d prefer that false gap not to be there. Manufactured for sure.
 
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