Rangers FC's borrowing tops Scottish football list at more than £22m

Discussion in 'The Bear Pit' started by Lainey Love, Dec 6, 2018.

  1. Lainey Love

    Lainey Love Well-Known Member

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  2. DJ Blue

    DJ Blue Well-Known Member

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    Has some of that has now been transferred to Shares.
     
  3. Lainey Love

    Lainey Love Well-Known Member

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    I don’t know D J, I’m not very good at keeping up
     
  4. JD1872

    JD1872 Well-Known Member

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    I would put it another way and say Rangers have investors who are prepared to put the most money in out of the teams in Scotland
     
  5. Brian Laudrup

    Brian Laudrup Well-Known Member Official Ticketer

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    Why be positive when you can be negative??
     
  6. longtimedead

    longtimedead Well-Known Member

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    We may have borrowed a lot but I am sure that Celtic owe much more .....

    Lazy journalism
     
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  7. Brian Laudrup

    Brian Laudrup Well-Known Member Official Ticketer

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    Agenda driven journalism more like
     
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  8. Bilbotheblue

    Bilbotheblue Well-Known Member

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    We haven’t borrowed anything. This is money that’s been invested in the club.
     
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  9. devilman

    devilman Well-Known Member

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    Was going to ask this - who has lent us this then?
     
  10. rossgers

    rossgers Well-Known Member

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    Top of the dirty bastards who don't pay our debts league. Did ill phil write this?

    Ed: Kieran Maguire.......
     
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  11. Superrangers

    Superrangers Well-Known Member

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    All the while we don’t have dividends that have to be paid, bank loans at rates the Labour Party couldn’t even get and a £59m wage bill.
     
  12. Kingdom Bear

    Kingdom Bear Well-Known Member

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    22m of which zero is external borrowing
     
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  13. Virgil Hilts

    Virgil Hilts Well-Known Member

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    Have they factored in the tims' preference shares hat the FSA recategirised as debt
     
  14. Cumbernauld gers

    Cumbernauld gers Well-Known Member

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    Media at it with stuff like this.
     
  15. Clubdeck

    Clubdeck Well-Known Member

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    I don't mind these kind of stories.

    The sort of thing that gets rabid Dhims foaming at the mouth and tugging themselves into a frenzy that they might get another 4 free runs at the league.

    If they're looking that way, they're missing what's really happening.
     
  16. Bluechip

    Bluechip Active Member

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    The S*n is for wiping bottoms
     
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  17. Lainey Love

    Lainey Love Well-Known Member

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    The biggest question they should be asking is where’s all the Tims champions league money gone!
     
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  18. Mark Walters

    Mark Walters Well-Known Member

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    Yes.
     
  19. noops12345

    noops12345 Well-Known Member Official Ticketer

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    rather than give them the hits...


    Rangers FC's borrowing tops Scottish football list at more than £22m
    [​IMG]
    Ibrox



    A SHOCKING new report has revealed that Rangers borrowed more than £22m in their latest year's accounts, more than double Celtic's total.

    3 comments
    The Ibrox club's total of £22.5m is more than the remainder of Scottish football's professional clubs combined.

    Announced as part of report shared on social media by football business lecturer Keiran Maguire, the Gers's borrowings were taken from their most recent accounts.

    British football clubs owe about £3,517,300,000 to banks and owners. Manchester United top the table with £496 million. Chelsea & Everton at the bottom as owners fund clubs via shares rather than loans. Figures from most recent accounts. pic.twitter.com/Yb5koRa0ej

    — PriceOfFootball (@KieranMaguire) December 6, 2018

    In comparison, Celtic borrowed £10.8m, the second highest total in Scotland.

    In October it was revealed that Rangers' pre-tax losses had more than doubled for a second consecutive year to £14.3million.

    READ MORE: Rangers AGM: Low-key meeting is a sign of the times and the progress at Ibrox

    An auditor expressed "concern" over the figures but chairman Dave King insisted there are no questions being asked about the club's financial strength.

    The report was put together by the University of Liverpool lecturer to display the amounts borrowed by British clubs, totalling £3.5bn.

    READ MORE: Rangers financial losses double as auditor expresses "concern"

    Other Scottish clubs registered - Hibernian, Motherwell, Dundee United and Dundee - owe around £9m between them.

    Three other clubs in Scotland also borrowed, however the totals of Aberdeen, St Johnstone and Ross County were all less than £1m while Partick Thistle and Kilmarnock did not record any borrowings.
     
  20. Nizzy72

    Nizzy72 Well-Known Member

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    Ok, thanks Kieren friggin' Maguire, jeezo they worm their way into everything, I think our board know what like our finances are. They just seem to love churning out negativity about us
     
  21. rinosprayer

    rinosprayer Well-Known Member

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    Is this really from a “report” or some spotty millennials thesis submission?

    Sources please...

    ‘An auditor’....

    ‘Put together by the univ of Liverpool lecturer’

    Very convincing. That’s a pass for me.
     
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  22. Popbear

    Popbear Well-Known Member

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    One minute it's where is king and the money he promised, now it's yeez us taking too much money :eek:
     
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  23. Sam English

    Sam English Well-Known Member

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    Keiren McGuire - that name sums it up perfectly.
     
  24. BobbyShearer55-65

    BobbyShearer55-65 Well-Known Member

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    I wonder what school Kieran went to ??
     
  25. Dooodooodrooo

    Dooodooodrooo Well-Known Member

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    Mmm? We've paid off the Close bros agreement.
    A very misleading article considering this "borrowed" money is from board members who don't require interest and will convert said money into shares. In effect, we are debt free.
    I wonder who this article is aimed at?
     
  26. The Predator

    The Predator Well-Known Member

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    Nonsense story made to sell papers to tarriers
     
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  27. KimStelper

    KimStelper Active Member

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    I was expecting more TBH. I said before that in business when you are dealing with a business as big as Rangers and how business works along with the amounts, it is beyond us normal folks reading stuff in the press and requires someone who has either been in big businesses for years or someone who has some sort of financial education.
     
  28. Midfield General

    Midfield General Well-Known Member

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    Another negative and selective story about Rangers,you would think there's a title race on.
    Be prepared for more noise if we keep on top or very close to it.They are bricking it big time.
     
  29. Grant K

    Grant K Active Member

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    Semantics, the article uses the word borrowing but infers debt. We have no external debt and since the date the data was compiled a percentage has been converted to equity. Lazy journalism that neither mentions the equity swap or that the borrowing is interest free. File under rubbish.
     
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  30. DaveC

    DaveC Well-Known Member

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    So hang on the tims have raked in about £50m between champions league and player sales but still borrowed £10m yet we’re the bad news story?
     
  31. Hank

    Hank Well-Known Member

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    I love the smell of fear in the media.
     
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  32. FirstToFifty

    FirstToFifty Active Member

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    Strange that the report lists Chelsea and Everton as having the least amount of debt, as these are unsecured and converted to shares. Yet also includes all of Rangers shareholder loans which have been, or a due to be, converted to shares.
     
  33. Zwingli'sSausages

    Zwingli'sSausages Well-Known Member

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    [​IMG]
     
  34. heresto55

    heresto55 Active Member

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    How come the manky mob, who we are being told have a gazillion pounds in the bank, have had to borrow £10.5m ?
     
  35. Thasunke Witko

    Thasunke Witko Well-Known Member

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    Hhhmmm, Chelsea and Everton owe next to nothing because their investors fund their clubs by shares , we do the same but we are in debt , get it fu(kin right ya walloper Kieran.
     
  36. Torque_87

    Torque_87 Well-Known Member

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    Agenda driven Scottish journalism.
     
  37. barrheadbear

    barrheadbear Well-Known Member

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    Exactly, our own board members are hardly going to pull the plug and demand repayment. This is internal debt, not owned to a bank or 3rd party and the conditions of repayment are known to all (majority to be converted to shares when share issue takes place).

    Each and everyone of them is a fan and has stepped forward to assist the club in returning to where we belong and for that we as a support are grateful.
     
  38. StuGers

    StuGers Well-Known Member

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    Really lazy journalism right there.

    King has stated on numerous occasions that pretty much all of the loans shall be converted to shares. So effectively, the loans are investment, not expected to be paid back.

    On that case, how much of Celtic’s £10m is in loans earmarked for shares? How does Celtic’s champions-league shaped hole look, especially considering they had to borrow £10m and that includes CL money from last year?

    Journalism, eh?
     
  39. Coopergaz

    Coopergaz Well-Known Member Official Ticketer

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    Celtic only 10.8? Thought they had a large loan with co-op
     
  40. Virgil Hilts

    Virgil Hilts Well-Known Member

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    A deflection piece.
     
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  41. BackJardine

    BackJardine Well-Known Member

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    Locked away for the compo that's due when their peado ring unravels.
     
  42. DC Anchor

    DC Anchor Well-Known Member

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    so is there a 'hard' number on our debt? and to whom?
     
  43. Arminius

    Arminius Well-Known Member Official Ticketer

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    hahahahahahahahahahahahahahahahha
     
  44. lordmountbatten

    lordmountbatten Active Member

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    So with all st pats CL money and pyoor millions in the bank, they had to borrow 10 million?
     
  45. Ron Burgundy

    Ron Burgundy Well-Known Member

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    No mention of a certain club's facility with the Co-Op bank ?
     
  46. biggee

    biggee Active Member

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    The E.T certainly is. Hardly the place to read about Finance , er, ever.

    The telling bit though - Announced as part of report shared on social media by football business lecturer Keiran Maguire.
     
  47. Barrymoped

    Barrymoped Well-Known Member

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    While it’s not nonsense, we did borrow this amount, what the article conveniently forgets to mention is it was all by shareholders and not external such as banks or Close Brothers type borrowing, so therefore it’s interest free with no repayment date.

    It’s amazing the turnaround in Killie though, a few years ago they were millions in debt with a team fighting relegation. Just goes to show what having a rich local investor and appointing a good manager can do, they are in a great place right now, only let down by their woeful home support.
     
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  48. sw26

    sw26 Well-Known Member

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    Lumping in owner’s ‘borrowings’ with bank debt is an absolutely useless exercise, particularly when a lot of the owners loans will be interest free and potentially convertible into shares rather than strictly repayable.

    I don’t suspect the mhedia are that clued up on such matters however.
     
  49. WalterLoyal

    WalterLoyal Well-Known Member

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    Dave King has already pointed out that the soft loans will be converted to shares and not a penny of it will ever be paid back by the club. The media however do like to pass off the soft loans as normal debt which has to be paid back. It is an attempt to mislead and confuse.
     
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  50. Chubster

    Chubster New Member

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    Hawd on....Ra Sellick borrowed £10.8m??? What about the millions is the bank ? o_O
     

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