Rangers Then, Sevco Now, Scotland's Shame Forever....

[kb_don]

BBC

Rangers International Football Club has posted a profit of £300,000 in its unaudited financial results for the six months to 31 December 2016.

This compares favourably to a loss of £500,000 in the same period in 2015.

Revenue increased by £5.3m year on year to reach £16.3m thanks to bigger attendances, greater income from playing top-tier football and greater sponsorship and commercial income.


However, operating expenses rose too, by £4.1m to £15.5m.

I suspect that's a bit of lamb, to justify them getting a europa cup place next season. They don't meet the FFP criteria, but the SFA will use any excuse they can to get them in

[kkong]

Aye but what does the balance sheet show I wonder ?

There is no balance sheet.

And they lost money, there was no profit.

The most lightweight "accounts" I've seen for a while.

There is virtually no content or explanatory notes.

https://media.rangers.co.uk/uploads/2017/03/RIFCInterimDec16-1.pdf

[Getintaethem]

There is no balance sheet.

And they lost money, there was no profit.

The most lightweight "accounts" I've seen for a while.

There is virtually no content or explanatory notes.

https://media.rangers.co.uk/uploads/...rimDec16-1.pdf

I think you are being a little critical with your analysis. They did stream a shareholders meeting when they went into the details.

https://www.youtube.com/watch?v=u6_HLqQlre4

[Stavrogin]

There is no balance sheet.

And they lost money, there was no profit.

The most lightweight "accounts" I've seen for a while.

There is virtually no content or explanatory notes.

https://media.rangers.co.uk/uploads/...rimDec16-1.pdf

Lightweight? The lack of detail should embarrass the junior accounts assistant that must have put them together. 451 grand of 'Other charges' with no explanation. Probably how much they have to pay Mike Ashley to stock their ghastly kit.
What really confuses me is that they report a tax rebate in each of the last two years. Surely you have to have actually paid some taxes in the first place to get a rebate?

[vinnydesalvo]

6 caps, a scarf and some pins. Sevco's new trophy cabinet is coming along nicely.

Maybes overlooking the Petrofac training Cup?

[canarydon]

I suspect that's a bit of lamb, to justify them getting a europa cup place next season. They don't meet the FFP criteria, but the SFA will use any excuse they can to get them in

There's also the small matter of the £2.9m loans received from directors in October to keep the club afloat.

[SFDon]

We suport you? WTF They have a history of bad spelling, smelling, whatever.

Haud on maybe they mean sup port, meaning sip port in support of Pedro Cocksinahand?

[vinnydesalvo]

Loving most of Davie King's sound bytes in this fleeting visit. Just wish he'd stick a sheepskin on, chug on a big fat cigar and drop the phoney accent for Cockney drawl.

[medw1311]

Late breaking post split fixture....

The Takeover Panel v David "Glib and Shameless Liar" King
Venue: Court of Session, Edinburgh
Kick Off: TBA

https://stv.tv/news/west-central/1385774-dave-king-taken-to-court-over-rangers-share-offer-failure/

[Red_china]

We might need a new popcorn machine in here

"Concerts, Delinquents and Zombies"

http://www.bbc.com/news/uk-scotland-39598397


That article should keep the feud between the BBC and sevco going for a bit longer..

[DollyLongstaffe]

Not sure about the popcorn. This might be bad news for King, but I suspect the ejection of King would be good news for Sevco. He has a grip of the club but can't or won't put real money in and I doubt they can raise much finance any other way while he's in place. I suspect he's also a barrier to any compromise settlement with Ashley.

I was furious when our gutless fitba authorities predictably and immorally failed to stop King from taking control, but for those of us who wish the Huns nothing but ill it was probably a good thing: the club run by an absentee, uninterested crook. I'm pretty happy he's in charge.

[Jupiter]

The Craig Whyte trial starts tomorrow, popcorn time again.

[Aldo1983]

Not sure about the popcorn. This might be bad news for King, but I suspect the ejection of King would be good news for Sevco. He has a grip of the club but can't or won't put real money in and I doubt they can raise much finance any other way while he's in place. I suspect he's also a barrier to any compromise settlement with Ashley.

I was furious when our gutless fitba authorities predictably and immorally failed to stop King from taking control, but for those of us who wish the Huns nothing but ill it was probably a good thing: the club run by an absentee, uninterested crook. I'm pretty happy he's in charge.

Completely agree. He's exactly who you want running the Huns.

[Feck_the_Huns]

The Craig Whyte trial starts tomorrow, popcorn time again.

3 month trial, they reckon......

[RedStarTorphins]

The Craig Whyte trial starts tomorrow, popcorn time again.

Scotland (& the football authorities) is generally a Masonic backwater.
Don't expect anything to happen to SEVCO.
File under "SFA carpet".