Loyal Soldier
Well-Known Member
Life is so much better when you don’t read the pish that dirty 19th Century Terrorists write in shit paper publications.
He’s the Waylon Smithers to septics monty burns so he’s probably high on poppersIf 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.”
"
I wouldn't even put it near my arse.
It's on it's way to it.Wish this rag would just fucking die.
Glasgow Rockets sounds like some pishy wee motorbike gang from Hyndland that kick about on mopedsCo owner of the Glasgow rockets basketball team? Ffs how does this make it to print
Timmy porn.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.”
"
Was Hayes a first choice? Who the fúck is Calvin Miller? I know potato head played sometimes but never ever heard of the other one.
Neither seem indications of massive cost cutting to be honest.
And by the way, they are best pals these clowns.Phil3names would have been as well writing that nonsense.
You wouldn't think that mob had a £ 60 million wage bill.
However in same interview says we would need.to rely on our directors for more money, so we either have access to cash or we don't, papish b4st4rd that he is"...they have no cash or access to cash...". How the f*ck does he know that!!! What a load of pish!! Honestly sometimes I weep!
we have Genuine supporters and no legal cases that is about to cost us millions.“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.”
Have their contracts ended or have they agreed a package to leave?Hayes, Simunovic and Calvin Miller all papped this week alone.
Not even that handy
Its amazing what you can get away with when you are 'winning' trophiesIt highlights the incompetence of their recruitment policy.
They really have paid fortunes for some absolute shite.
When I worked for Menzies around 25 years ago the record was the big dog today it's a maggot Rangers have million's of supporters world wide who would contribute to the club, just give us the call. I know that ST holder's are bearing the most of the cost,it's why I have joined Mygers and 1872 and will contribute more if called upon. Rangers will never die.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!!
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.
Celtics bank balance won't be long in running out.
Has this guy missed the fact that most of our ticket income is still going to come in?
Have their contracts ended or have they agreed a package to leave?