Lennon hints at yahoo wage cuts

It‘s entirely feasible that football won’t resume until October or even later. With no season ticket money or tv money every club in the world will have problems. Those with mega rich owners will not be immune as the rich guys will have other business headaches which will be given priority.

In the short term there will be no money anywhere, clubs will just be trying to survive and get through this safely. We can forget any incoming transfer money to boost coffers. Hopefully that affects them worse than us.
 
Why is it with every thread about other teams on here some "expert" HAS to chime in with "aye but were in the same boat".
We all know the financial situation were in, your sounding like radio fckn snyde, cant criticize them without Lumping us in with them ?
Ffs......
 
Why is it with every thread about other teams on here some "expert" HAS to chime in with "aye but were in the same boat".
We all know the financial situation were in, your sounding like radio fckn snyde, cant criticize them without Lumping us in with them ?
Ffs......
What's the criticism in this case though? They are possibly doing something the likes of Barca, Juve and Bayern have done and that all clubs will have to do so where's the point scoring in this case? Is it because they have mentioned it before us so are in financial crisis?
 
Is like to think our board are responsible enough to have catastrophic events build into the strategy in the same manner banks are stress tested. If anything with our recent past is hope so. King also stated that further investment had been received and the other investment was on hold at present. Maybe not how we had planned on spending the money, but we’re all in the same boat. Our revenue this year will still be the best we’ve had since coming back up.
 
What's the criticism in this case though? They are possibly doing something the likes of Barca, Juve and Bayern have done and that all clubs will have to do so where's the point scoring in this case? Is it because they have mentioned it before us so are in financial crisis?

Probably more to do with the bragging coming from them that they're cash rich.
 
Surely its more prudent to reduce our operating costs now, ensuring long term survival, than worry about what the no marks across the city do?
If we did it and they throw it in our faces we can always accuse them of ‘point scoring’ in a time of world wide crisis.
 
Probably more to do with the bragging coming from them that they're cash rich.
This is exactly it.

They have painted a picture of being cash rich, and their media chumps have only been too glad to repeat it, that them slashing costs would be embarrassing.

Rangers should wait it out longer to embarrass them further.
 
Last edited:
Good post.

I think at their last year end it was over 30m as you suggest, however that’s right at the start of the season when all of the ST & Sponsorship cash was in. They had over 20m of deferred assets at end June. That’s cash received for a period that relates to later months during the season.

In simple terms they will probably have had significantly less cash at the start of this lockdown than at end June.
A deferred asset is not cash received for later months
If they had such cash the accounting would be to add it to cash but have a corresponding liability or accrual on the balance sheet
I'm struggling to think what mighty constitute a deferred asset but it would be other than deferred tax but it would be something that had been paid for which the p&l charge had to come later
 
I'm not saying they wont but a quick google search has him at 1.9 billion. They will be fine. Your kidding yourself if you think they wont be.
I don't think anyone is saying they are going to fold because of this. It will just help harm their financial strength and along with the payments to victims and lawyers it should help level the playing field again.
 
Maybe cellik didn't have pandemic insurance, that's why they announced this. Maybe Rangers have and are sitting tight.

BBC Scotland Radio this morning covered cellik announcing possible cuts but also digressed that they made X Millions this year. BBC Scotland nothing but celliks PR Dept.
 
Branson doesnt have employees worth millions of pounds though. As I've said I'm not saying it wont effect them. What I'm saying is they have someone behind them who can see it out with wages etc the now. Even if he puts a clause in he has to get his money back within 2 to 3 years out the club profits of what he puts in to keep them going during this period.

Branson has assets worth millions of pounds. Their players are assets but they are assets that can fluctuate in price or sustain a career ending injury or become ill and never play again or whatever.

Desmond won’t throw money at them. Why would he when he can get them to take a pay cut? What is eduard etc going to do move to another club... oh wait they are taking pay cuts to.

Desmond is a businessman first, same as jim mccoll if you like, they won’t drain their fortunes on a football club whether they support them or not. They may invest a little however as soon as it isn’t financially viable they will be out quicker than they came in. That’s why they are loaded.

Desmond doesn’t have the emotional connection to them that you are eluding to. I would expect to be reading this stuff on kerrydale street to be honest
 
Where the %^*& have I said there wouldnt be? You making things up aye ? I've said they would be better to cope than anyone in the league with a billionaire behind them to deal with it. I dont know fuckall about them or there finances. What I do know is they have a billionaire behind them so realistically they would have a better chance. Do you disagree with any of that ?

I disagree with a lot of it, aye.

Their billionaire doesnt give them cash like a parent giving a child pocket money.

Their billionaire makes money off them.

He's a billionaire for a reason.

Their wage bill without income is a bigger issue for them than ours is for us which is why they were begging for ST cash in March and are already making noises about not being able to make pay roll in April.
 
Every club will follow suit. Clubs with far greater clout than us or them are already making cuts. Will change football forever
 
The article the op refers to tlb was

Asked if cuts were a possibility, he said: “Yes.

"We’ll probably have a look at things at the end of April in terms of the club as a whole”.

"Peter Lawwell and the board will review it then. At the minute, we are okay.

I would be very surprised if we haven’t taken action before then. The pr@cks are playing poker and seeing who blinks first imo.
So basically what he’s saying is the biscuit tin club are happy to spunk away £1m (20% reduction) up to £2.5 (50% reduction) per month for no reason? Aye right!

£1m comes from 20% of £60m/12 and £2.5m using the same ‘formula’ but with a 50% drop.
 
So if push comes to shove the paedos will be fine.
Yet you acknowledge the biggest clubs on the planet are having to make cuts?

I love how the FF comedians have tried to keep our spirits up lately.

He's not saying they won't have to make cuts. He is saying that have financial muscle behind them to see them through. If their players accept a wage cut I'm pretty sure Desmond would step in if this was ongoing for 6 months.

Every club should.be looking to make cuts, it's common sense.
 
Who's to say that we haven't already taken action ? Right now I dont believe its anyones concern if or if not any staff take wage cuts, why reveal any details so the press and the Yahoo's can have a field day.... say %^*& all and carry on as normal.
 
Oh dear, employing players they can’t afford? Strip the titles!

How can they keep a straight face and demand the title is handed to them when they can’t afford to pay their players? It’s exactly the same thing that they have been greeting about for the the last decade.
 
Almost every team in Scotland will be asking their players to take a wage cut, rightly so if needed to protect the future of the club and save other jobs, however with the tens of millions that they have in the bank, it seems to me that they are doing it to save cash and maintain their financial dominance when this is all over.
 
A deferred asset is not cash received for later months
If they had such cash the accounting would be to add it to cash but have a corresponding liability or accrual on the balance sheet
I'm struggling to think what mighty constitute a deferred asset but it would be other than deferred tax but it would be something that had been paid for which the p&l charge had to come later

Sorry, I wrote that late last night. It’s Deferred Income. £25.6m. As I said, it’s income, mainly for Season Tickets & Sponsorship, which was received prior to the FY ( ie this season ) that it relates to.
 
I'm not saying they wont but a quick google search has him at 1.9 billion. They will be fine. Your kidding yourself if you think they wont be.

That is if he wants to give them the money and if he did he would want it back at some time in the future.
 
That's still a difference of an average of £150k per player, so let's say it is based on a first team squad of 22 players, that's 22x150k = an extra £3.3m a year they are paying on wages alone.
If we were to pick up say 4 good players on Bosmans, even if we paid them £825k a year (16k per week)each we'd still only be paying the same as the filth on wages, with a bigger squad than we have now with better quality.

They've just signed a record deal with Adidas and have 10k more stadium capacity. They aren't fkd with their merchandise.

They'll make cuts but it's wishful thinking that they're un any financial difficulty at the moment.

If this lasts for 6 months+ then we'll start to see them struggle
 
Anyone think a wage cut will sting a little deeper For likes of Davis and greegsy.

like a “not again” moment for the 2 of them.
 
They've just signed a record deal with Adidas and have 10k more stadium capacity. They aren't fkd with their merchandise.

They'll make cuts but it's wishful thinking that they're un any financial difficulty at the moment.

If this lasts for 6 months+ then we'll start to see them struggle

While they probably won’t be heading for administration anytime soon they’ll be massively damaged in the short to medium term.

Adidas probably won’t be paying them anything till they are back playing and selling manky tops which won’t help them out over the summer months.

They also burn through £5,000,000 a month in wages and will soon be on the hook for up to £4,000,000 in season ticket refunds, by start of May that’s a potential loss of up to £14,000,000 for them and counting.

If they don’t make the UCL and the transfer market was to collapse meaning they can’t bring in Tierney or Dembele type money in this summer they’d also be looking at running at a £15,000,000 loss next season as well if they don’t vastly reduce wages.

All hypothetical right now but they could be forced into cutting the wage bill by 50% if the perfect storm hits them.
 
Last edited:
Are you taking the piss ? The biggest clubs on the planet wage bill dwarfs us and them. I'm saying and il say it again so you understand. If and a big if they had to keep paying the wages the have a billionaire who can. Hed get his money back through it written in a contract etc that money put in has to be paid back. But with a billionaire behind them paying wages for 4 to 6 months is more than doable. Are you saying it's not?. Are you saying what I'm saying is so far fetched?.
I'm sure Dermot Desmond sleeps better in the knowledge that you are on FF championing his generosity and assuring us all that sellik will be okay.
 
Maybe Julian Wolhardt as a key player in China has ensured Rangers had pandemic insurance before investing.

We shall soon find out
 
He's not saying they won't have to make cuts. He is saying that have financial muscle behind them to see them through. If their players accept a wage cut I'm pretty sure Desmond would step in if this was ongoing for 6 months.

Every club should.be looking to make cuts, it's common sense.

Desmond has no history of just putting money in to help them, what makes you so sure he'll start now?

He might well be a billionaire, but the recent examples of Ashley and Branson show that these guys have as much to worry about as anyone else.

What is his fortune going to look like when we come out the other end of this? Why is he going to throw money at a football club when he'll have other business interests to take care of?
 
The gap is not as big as some might imagine.

Figures produced by the Global Sports Salaries Survey (GSSS) for Sep 2019 show that their average annual salary for a first team player is £895,564. Ours is £649,771, so its basically £900k v £650k.

A year ago they were earning nearly double - £865,614 v £466,556 but the difference has been cut from £400k to £250k in the space of 12 months.


Yes, that’s cost per player. They also have a first team squad size of at least 4 more than us.
 
No business is immune to the impact of this virus, us included. Clearly we have more of a buffer than the likes of Hearts but I would expect that we start tightening our belts pretty soon.
 
I really dont know what hed do. They are in a far better position to pay wages to players than any other club in the league though. That's a fact. Dont know why ppl are getting there pants in a twist over that.
I agree with Tommy1912 on this. As high as their wage bill is and even with the threat of compo claims they are still in the best financial position in our league. Even without considering the wealth of their owner. It doesnt make you less of a Rangers supporter to have this opinion.
 
There’s no doubt he’s a rich man, and you’d rather have a rich man behind you Tommy, but look at Murray when his 500m worth dropped to just over 100m. He dropped us right in it.

And we know the world equity markets are crashing just now, so his personal worth probably is too.
If we ( supporters) are ordinary folk, our pension pot will have taken a helluva hit during the share index fall.
guys like Desmond and Dave King will be down millions on paper, which is where their fortunes are, on paper.
The staff, (no playing) might end up on the government 80/20 scheme,
players would have to agree a cut.
I dont know enough about the spfl rules about clubs can legally reduce payments during this type of crisis. I believe there is wording in all spfl player contracts to cover this.
 
Branson doesnt have employees worth millions of pounds though. As I've said I'm not saying it wont effect them. What I'm saying is they have someone behind them who can see it out with wages etc the now. Even if he puts a clause in he has to get his money back within 2 to 3 years out the club profits of what he puts in to keep them going during this period.
That's pure fantasy Tommy.
 
Oh is that right Tommy aye?

Think Desmond will also need his his vast cash reserves to pay compensation on the paedo ring that Celtic football club covered up for over four decades?
I don't know how Desmond makes his money but hopefully this virus is costing his personal and business wealth to nosedive too :)
 
Oh is that right Tommy aye?

Think Desmond will also need his his vast cash reserves to pay compensation on the paedo ring that Celtic football club covered up for over four decades?
But if you look at the stories , we have 5 cases against our club. So do Dundee United, Hibs , the SFA and others.
Paedo's seems to have been everywhere in Football and wider society
 
Yeah they may ask players to cut it. What I'm saying though is they have a billionaire behind them so worst case scenario they will be fine. That was all.
He's the biggest share holder, he takes money out the club every year , he doesn't put his hand into his own pocket
 
We will be in the same boat soon we will defo need to cut wages unless we have insurance to cover us maybe some bears on here can elighting us if we are covered or not

WATP
 
Back
Top