Edmiston House and more seats or success on the park?

IbroxMainStand

Well-Known Member
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.
To be fair this is the point most supporters are making. We have limited funds so when the board choose to spend a massive amount on something like this people will question it.

Its the same as if we spend £10 million on striker and he doesn't perform. Fans will question if the decision was correct and the other areas were the money could have been spent.
 

BombersBoots

Well-Known Member
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.
I thought there was proof in the accounts of his outstanding money along with another director being for the project along with the 10 million?
 

Baloo72

Well-Known Member
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.
Everyone has there own priorities I suppose, out with winning everything, and there is no doubt some want everything all at once and have unrealistic demands.

Welcome to Rangers lol
 

Ro55co

Active Member
I think the fans should be given a voice as part of the decision making, assuming it has not already happened?
Especially when projects like EH are costing 10/11m, we are the biggest stakeholders in the club.
 

Barrymoped

Well-Known Member
I pay my money to watch football, I want my team winning.
That should be priority
It is a priority.

But it doesn’t mean it’s the only thing happening and nothing else can happen as well.

This thread wouldn’t even exist if we had scouted players better in the summer, and the likes of Matondo, Davies and Yilmaz were all having great seasons and we were top of the league.

It wasn’t the money spent on players that’s the main issue, it’s who we spent it on. They may yet come good but so far we haven’t seen much return for the layout.
 

Hong Kong Island 72

Well-Known Member
I think the fans should be given a voice as part of the decision making, assuming it has not already happened?
Especially when projects like EH are costing 10/11m, we are the biggest stakeholders in the club.

Not saying you're right or wrong, but we'd never bridge the gap with celtic interms of revenue that way as fans would never vote to neglect any aspect of the first team.

In a season when everything else is equal, they have an additional £2.5m a year we just can't reach because of those extra seats. In a league like ours that's a lot of money. In seasons where we surpass them we can close the gap and overtake, but likewise in a season they do well they can stretch that out even further.
 

Big D

Well-Known Member
So spending upwards of 10 million on Edminston house currently isn’t a good idea.
Unless I've picked it up wrongly from the accounts, the club is not spending £10m on Edmiston House right now. Instead, the upfront cost has been covered by John Bennett, to be repaid by the club over the next (I think) 6 years, during which time EH should be generating income, so the repayments should increasingly come from that income. The impact on current finances is therefore relatively small and when the loans are repaid, we have another income stream. Let's be honest, there's never going to be a time when most supporters would prioritise spending £10m on a capital project over spending it on players, but if we want to progress these things need to be done and the way the funding for this has been structured, I think it's about as good as we could hope for.
 

BombersBoots

Well-Known Member
Unless I've picked it up wrongly from the accounts, the club is not spending £10m on Edmiston House right now. Instead, the upfront cost has been covered by John Bennett, to be repaid by the club over the next (I think) 6 years, during which time EH should be generating income, so the repayments should increasingly come from that income. The impact on current finances is therefore relatively small and when the loans are repaid, we have another income stream. Let's be honest, there's never going to be a time when most supporters would prioritise spending £10m on a capital project over spending it on players, but if we want to progress these things need to be done and the way the funding for this has been structured, I think it's about as good as we could hope for.
We are still then paying 6% interest on top of it all.

It’s fair enough if it’s done like that just don’t think it should have been done just now.
 

sh3lldon

Well-Known Member
Official Ticketer
for this to be valid separate the disabled solution out as this is a must no matter the finances involved.
 

vicbex

Well-Known Member
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.

The team is poor

The atmosphere is poor

We're going nowhere but who cares?
 

dh1963

Well-Known Member
Every business has to have short term and long term priorities and budgets.

This board inherited an Ibrox that had been neglected for years, as well as a team nowhere near good enough to compete.

You can definitely argue that we haven't had value for the money shelled out on first team improvements in the last couple of years, but nobody can seriously say they haven't invested a lot of money in both on and off the pitch.

We all would love to see us find the cash to bring in 25m of players, but that can't be done if we ignore the disgraceful disabled facilities or toilets. And Edmiston House is a long term money spinner with the added benefit of a club museum, which many fans have been wanting for decades.

The balance will always seem wrong when we're not winning.
 

HawfHeedHartson

Well-Known Member
Official Ticketer
I think after some big sales (Gerrard, Patterson, Aribo, Bassey), the run to EL and the CL qualification, and the board are pleading skint, we're always going to be pleading skint.
I know folk will say, aye but this that and the other. But on the face of it, if we can't spend atm, I think we'll be bargain basement shopping for the foreseeable future.

The harsh reality sadly.
 

Hoosier Ranger

Well-Known Member
Are we not close to our limits on playing squad spending due to FFP ? Edmiston house should homefully
Increase our revenue which would allow more to be invested in the playing squad.
Plus spending on CAPEX improves the look of our Balance Sheet which increases the "value" of the club. Having an asset that can generate future revenue streams looks very nice as well.
 

McCoist’sTinHat

Well-Known Member
This is the same argument as the money spent on the training ground. Since then, it’s provided a base for countless trophy winning sides, 2 x European finalists, produced 2 club record sales from the academy and helped attract box office signings.

These things aren’t mutually exclusive - they need to be done. There’s an argument to say there’s too much going on at once, but this is part of the legacy of 2 decades of underinvestment from Murray and the spivs.
 
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Cyberniv

Well-Known Member
I think after some big sales (Gerrard, Patterson, Aribo, Bassey), the run to EL and the CL qualification, and the board are pleading skint, we're always going to be pleading skint.
I know folk will say, aye but this that and the other. But on the face of it, if we can't spend atm, I think we'll be bargain basement shopping for the foreseeable future.
Yes, but we’re multiples of millions less skint than at any point in the last 10 years, probably longer.
 

Coplandbear

Well-Known Member
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?
Edminston house shouldn't have been built a ridiculous vanity project that will take years to see a profit.

By all accounts the cost of building it has soared in recent months.
 

Dalmuirbear

Well-Known Member
Considering the neglect of Ibrox over the years and the need for club owned facilities it has to be done now alongside on field expenditure.

It just needs managed well and maintained properly going forward.
 

Captain_Buns

Well-Known Member
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.

Surely you understand that the reason Bennett is being tapped as you call it, is because the club doesn’t have sufficient cash flow 12 months of the year?
 

Aonachas_Sing

Active Member
I think the board got too ahead of themselves after winning 55 that they thought everything was rosy and they could focus on other projects. Focus should have been on cementing that position.
And ignoring the fact that Ibrox needed a lot of care and attention? Same with the training centre and as for the disabled facilities we are not in a good position and they should be applauded for the actions.
 

Neilston Unionist

Well-Known Member
The club has to think longer term and maximise revenue from all angles. I posted on another thread about Celtic having 10,000 extra seats. If you do quick fag packet maths this has been a financial advantage to the tune of over 80m since Parkhead was redeveloped. If we can't cheaply expand we simply have to look at other alternatives. Trimming down the financial disparity between us and them is essential to success on the park.
 

The Mentalist

Active Member
Again …. We should be actively looking at selling the ‘naming rights’ to Ibrox and pumping THAT money into stadium development. A win win for me.
 

Tiny_Kilby_Loyal

Well-Known Member
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?
All should be achievable.
 

Garrison Defender

Well-Known Member
We are very short term in our thinking. 55 was very important.

In the previous 2 seasons we have won the title unbeaten, won the Scottish Cup and got to a European Final. The youth and women's teams are doing well.
Our first team squad is underperforming no doubt and we are losing players but the replacements haven't had a chance yet. We were getting to the point that we started selling players for substantial profit.

What happened to us 10 years ago was and is a travesty. We can't change that now. I've been going to Ibrox for 54 years and there are many with decades longer than that. We're stuck in Scotland etc. but every win and every goal is still a joy.

Like the first offender who goes to jail we are suffering still from what happened to us but football is one thing, loving Rangers is another and we'll have major highs and lows for many years. We need to improve our beautiful stadium and invest wisely in the squad. Like others said it's not either/or. Real success depends on us doing it all to the best of our ability.
 

Frank Harper

Active Member
Very true mate. Regardless of name it will forever be Ibrox to us but some have to take the blinkers off.
But where is our money generating cut off point.

NFT's?
Australian Friendlies?
Naming rights?
Commemorative pictures from our worst ever European defeat?
Special edition green strip for St Patricks day?
 

Blendz Bears

Active Member
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?
Club has neglected its facilities for too long, we have come to a point where we have to do it. Need to do all 3. Constantly invest in facilities and team. We need to get to a point where all facilities for fans are top notch and Constantly churning money. Ibrox has been on a downward spiral since early 2000s unfortunately
 

Gringotts Dragon

Well-Known Member
I think the fans should be given a voice as part of the decision making, assuming it has not already happened?
Especially when projects like EH are costing 10/11m, we are the biggest stakeholders in the club.
To be fair, there’s always different factions with different perspectives on absolutely everything
 

BombersBoots

Well-Known Member
Club has neglected its facilities for too long, we have come to a point where we have to do it. Need to do all 3. Constantly invest in facilities and team. We need to get to a point where all facilities for fans are top notch and Constantly churning money. Ibrox has been on a downward spiral since early 2000s unfortunately
Don’t disagree the stadium should have as much work as required but EH is an unnecessary expense at the moment.
 

Blendz Bears

Active Member
Don’t disagree the stadium should have as much work as required but EH is an unnecessary expense at the moment.
Sorry agree to disagree here, it was all very highly praised when announced. Now its near completion and team taken a turn whats the club going to do leave it untouched. An expense well needed in terms of facilities imo.
 
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BombersBoots

Well-Known Member
Sorry agree to disagree here, it was all very highly praised when announced. Now its near completion and team taken a turn whats the club going to do leave it untouched. An expense well needed in terms of facilities imo.
A conservative 10 million with projected 1 million a year profit if doesn’t currently make financial sense.
 

The Mentalist

Active Member
But where is our money generating cut off point.

NFT's?
Australian Friendlies?
Naming rights?
Commemorative pictures from our worst ever European defeat?
Special edition green strip for St Patricks day?
I know mate. However if the ones who want to ban alcohol and gambling companies from sponsoring sports get their way then we are going to be struggling. Totally understand and agree that there has to be a limit though.
 

Frank Harper

Active Member
Club has neglected its facilities for too long, we have come to a point where we have to do it. Need to do all 3. Constantly invest in facilities and team. We need to get to a point where all facilities for fans are top notch and Constantly churning money. Ibrox has been on a downward spiral since early 2000s unfortunately
I call it the Blue Roll in the bogs
I know mate. However if the ones who want to ban alcohol and gambling companies from sponsoring sports get their way then we are going to be struggling. Totally understand and agree that there has to be a limit though.
The most realistic one is an increase in ticket prices which I am fully expecting. It's supply and demand myGers and the waiting list has demonstrated the demand.

it's also pointless looking at what the other mob charge as they have a 10k seat head start on us
 

jimbear

Well-Known Member
Success on the park should always come first.

This! I once remember Tommy Docherty saying that supporters would stand on a slag heap to watch a winning team. That might seem extreme but my objective would always be to get a successful team on the pitch and progress elsewhere will follow from it.
 

Aonachas_Sing

Active Member
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
you seriously think that is what they regard as success? if it was then Gio would still be on seat and they would not have paid out his release payment and the dues to get ~Beale and co.
 

crmpicco

Well-Known Member
Supporters of a football club will never accept finishing runners up year after year just because we have a shiny new building next door. NEH will be great, but if it's either that or building a competitive team then a spade should never have gone in the ground.
 

DavieM

Well-Known Member
I think ideally you strengthen other areas within your business from a position of power/dominance - which obviously is something we are nowhere near right now.

Thing is these things can take years to get off the ground so it very seldom works out that way but really we should be ploughing most of our funds into the first team over the next 6 months in particular.

We can't just wing it in these next 2 transfer windows - we need to start getting fit and hungry 1st team players in the door ASAP.
 
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