Yes as others have said, it's obvious that they are running at a heavy loss if they don't make the Champions League and don't sell players.
For example, their £11m profit last year includes £17.7m of profit on players (must be Dembele) and £8.8m of other income (I'm pretty sure that will be the compensation they received from Leicester for Rodgers). In other words, strip out the Dembele sale and Rodgers money and last year is an underlying approximate £15m loss.
Shows even more what Rangers have built under Gerrard & Allen/Wilson. We have saleable assets now where they are lacking and having to bring in expensive loans - they would be in a right state without that money from biscuit hips sale . Kent, Aribo, Hagi, Kamara, Itten, Barasic, Katic, Morelos, Jack, Bassey, Roofe could all command a decent fee.
If they can't get Edouard to sign a new contract then they will need to sell soon and there will be a sell on with PSG. Mcgregor is probably their most valuable asset and someone might take a punt on Frimpong. Not making their money back on Julien, Taylor, Bolingoli, Klimala, Barkas etc. and that list isn't exhaustive.
Don't think anyone is thinking about them going bust, but them cutting costs and selling players is a huge boost to us.I work in accounting so hopefully can provide an insight into some bits.
On going bust - Page 10 on going concern summarises some key bits - they've got a £13m credit facility they haven't touched, a net asset position and roughly broke even (although as pointed previously, this was reliant on the sale of players). As much as I'd absolutely love to see nothing more than Declan greeting at them folding, I don't imagine it'll happen any time soon unfortunately.
I imagine they'll try and cut that wage bill in Jan/end of season now. I can't see them running up those wages with even further decreased revenue after 30 June 2020. So would be shocked if they don't shift some of the high earners come the end of the season to balance the books out a bit more.
Like most though, Covid is taking its toll defo. They've used up about a third of their cash in the year (used 11m) so that won't last forever if they want to keep running those wages up!
No mate, signed on a permanent deal in 2019.Is Frimpong not on loan to them?
No.Is Frimpong not on loan to them?
He is BritishThey tried to tell him to go home but that was anti Irish racism.
Not according to him he isn'tHe is British
Spot on.IF they lose the league and subsequently miss out on the Champions League for a fourth season, they will be forced to sell their main players and cut their wage bill. Lennon’s replacement would also have to work from a much tighter budget than the last couple of years. Also, their ST sales would plummet (remember the crowds in the Delia days?) plus merchandise would likely also take a hit.
Whereas IF we win the title, we have a crack at the Champions League, our players values increase, ST’s will sell out as always, and demand for merchandise will be insane (added to the fact it’ll be the kit for our 150th year).
Winning this title would be enormous.
Did notice that he didn’t actually say fuckall about it.Just checked Ill Phil's take on it with the help of his "Rugger guy"
Even he is struggling to polish the turd.
Not sure Rodgers was on 70k a week mate, every article says around 45k-50k. Lennon is also on huge money, on £2.4m a year according to the Daily Mail and the Express.A poster earlier referenced the fact that their AGM will be focused on discussions about Rangers.
While obviously partially tongue in cheek, its fucking true, and I think the underlying point to take away from their obsession is that they've taken their eye off the ball by focusing so much on us without considering how abysmal things are internally.
The financial results are startling. I expressed concern on here last night over their rabid pursuit of the fake 10 in a row and how they could push the boat out to secure a big name to turn them around. With these numbers it looks increasingly unlikely as they will need to pay TLB off, then pay top wedge to get someone in.
That said, Rodgers was on over £70k a week. That is fucking massive money for a manager in Scotland. Cant see them doing similar this time around. Long may their fucking agony continue, shit cùnts.
Hopefully it bites that lot harder.we can laugh at these figures but imo No club including ourselves will show any kind of profit. this virus is gony bite
That’s would be £46k a week, that can’t be right? If so he really must stayNot sure Rodgers was on 70k a week mate, every article says around 45k-50k. Lennon is also on huge money, on £2.4m a year according to the Daily Mail and the Express.
Just got even grimmer for the monobrow mob.
Same as the Nats, but they are BritishNot according to him he isn't
That’s would be £46k a week, that can’t be right? If so he really must stay
I know that having served in NI during the troubles but the poet population whether it be in NI or in Scotland will never admit to being britishSame as the Nats, but they are British
They also still have Hendry, Bolingoli, shved and Bayo on their books - they willThis is Soro, another midfielder brought in out of nowhere to rot in the bench, they bought him and Klimala for over 5 million !
I'll never admit to being overweight but doesn't change the fact lolI know that having served in NI during the troubles but the poet population whether it be in NI or in Scotland will never admit to being british
OK I get your pointI'll never admit to being overweight but doesn't change the fact lol
I just say I'm too short
I wouldn’t imagine they’d have 20m of 19/20 season ticket money sitting in deferred income at the 30th June but could be wrongWill that not be from 19/20 season ticket income
It’s just an accounting term budTerminology used always interests me... especially when new terms are suddenly used for things.
The term, “acquisition/invested” in the registrations of various players rather than new signings/transfer of players is curious. I’d be interested to see if the Rangers, or any other clubs accounts use the same terminology.
I’m not trying to find some hidden meaning to it - I’m just nosey about why we suddenly hear it.
I’m the same mate and you’re right. The only thing that stood out to me is how much cash they’ve used in the year, and without a significant retained earning at end of year it will continue to dropI work in accounting so hopefully can provide an insight into some bits.
On going bust - Page 10 on going concern summarises some key bits - they've got a £13m credit facility they haven't touched, a net asset position and roughly broke even (although as pointed previously, this was reliant on the sale of players). As much as I'd absolutely love to see nothing more than Declan greeting at them folding, I don't imagine it'll happen any time soon unfortunately.
I imagine they'll try and cut that wage bill in Jan/end of season now. I can't see them running up those wages with even further decreased revenue after 30 June 2020. So would be shocked if they don't shift some of the high earners come the end of the season to balance the books out a bit more.
Like most though, Covid is taking its toll defo. They've used up about a third of their cash in the year (used 11m) so that won't last forever if they want to keep running those wages up!
Sure it’s 30 June but you have 9 months to produce accountsWhen is our year end?
hopefully they'll be more Soro thereDon’t think anyone has seen Soro, period.
David Bowie had a great version of thathopefully they'll be more Soro there
ooh this post gave me a chubby just imagine not only their meltdown but the considering our scouting network the level of player we can bring in with the CL moneyIf we can win this title and qualify for the champions league they are in a whole world of trouble with a huge pool of players on big money.
I can't wait to watch the meltdown.
He has yet to make his mark.Don’t think anyone has seen Soro, period.
Neil Lennon salary: How much does the Celtic manager earn?
Neil Lennon sees his Celtic side take on Rangers in the Scottish League Cup final but how much does the manager earn and what is his net worth?t.co
They'll make some promises about getting the SFA to investigate our football licence and the fans will lap it up
We will not be allowed to win the league .I now get why the Null & Void is now being looked into.
Soro?Jullien - £7m
Bolingoli - £3m
Taylor - £3m
El Hammad- £1.5m
Soro - £2m
Klimala - £3.5m
Doesn't include the £15 - £20m they spent this summer.
The 18 mill is red herring they generally have 20-25 plus from ticket sales in by v this point.A profit before tax of £100k, £18 mil in the bank and they've since spent at least £20 mil on players.
Bye Bye cash reserves, Hello fire sale.
There is absolutely no way he's on anything close to that.Not sure Rodgers was on 70k a week mate, every article says around 45k-50k. Lennon is also on huge money, on £2.4m a year according to the Daily Mail and the Express.
Which is right the figure at the v to matched what's been circled is deferred income ie transfer fees hospitality packages uefa money etcSeason ticket sales would be nowhere near 49million. More like 20.
There is absolutely no way he's on anything close to that.
He was unemployed, following a controversial departure from Hibs and hardly in high-demand.
He'd have bit their hand off for £10k a week (probably double what he'd have been on at Hibs?), so to suggest they offered him £46,000 a week is ludicrous.
He got the job because he was a cheap option - if they were budgeting that sort of money for a new manager, he wouldn't have got near it.
So you reckon he's on £46,000 a week, because the Daily Mail and Express claimed so?Neil Lennon salary: How much does the Celtic manager earn?
Neil Lennon sees his Celtic side take on Rangers in the Scottish League Cup final but how much does the manager earn and what is his net worth?t.co
Mate, I was shocked and still a little dubious about it but I can only go with what info is available lol.So you reckon he's on £46,000 a week, because the Daily Mail and Express claimed so?
Think about it!
Was Rafael Schiete(SP) not in the same money bracket?Invested in Barkas - that's the biggest waste of 5million I've ever seen in my life.
I think older would be the main criteria.That deserves a wider more knowledgeable audience
Yeah but the tweet suggested that season ticket income was "deferred income" only.Which is right the figure at the v to matched what's been circled is deferred income ie transfer fees hospitality packages uefa money etc