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

[darrendons]

Just makes it even more galling that they've done well in Europe this season , as the money they're raking in seems to be a real lifeline for them

Even more so when they would likely have been pumped silly by Burnley and we probably would have got to the Group Stages! :-(

How these chunts got their UEFA licence given their financial mess.....

What happened to the FFP rules of % of turnover to wages? No fuc King way have they stuck to that!

[redstarfk]

Even more so when they would likely have been pumped silly by Burnley and we probably would have got to the Group Stages! :-(

Dinna ken aboot that , like , especially if you're meaning that we would probably have got through if we had their draw

[Jupiter]

These accounts won't include all the players they signed in the summer, so next year's loss will also be very big, despite the extra money from being in Europe.

[seeyazander]

The money received from the Europa League will only offset any transfer dealings made this year, approx £11million spent and approx £3million recouped through sales.
There is no way that this can be allowed to carry on, they are holding out for another share issue with the hope of writing off all of the directors soft loans.
Hun Armageddon is inevitable.

[Jupiter]

Releasing their accounts while they are in the middle of a game is a classic example of trying to bury bad news.

[fittiered]

Bit of a read but the writer disna really hud back.

https://www.forbes.com/sites/mikemeehallwood/2018/11/01/steven-gerrards-rangers-announce-14m-loss-as-they-were-playing-a-match/#28f876776a8b

[Jupiter]

Bit of a read but the writer disna really hud back.

https://www.forbes.com/sites/mikemee.../#28f876776a8b

He even mentions succulent lamb

[kb_don]

How these chunts got their UEFA licence given their financial mess.....

What happened to the FFP rules of % of turnover to wages?

Not sure the exact rules on FFP, but I suspect that's why they had the share issue to write off £12m of debt.

It's the only reason I can think off to do the share issue. If had loaned them money, I'd rather be a creditor after an insolvency event than get more worthless shares.

There's a good in-depth analysis of the accounts here:

https://philmacgiollabhain.ie/2018/11/01/a-review-of-rangers-international-football-club-accounts-for-year-ended-30-june-2018/

Don't worry, it's written by an accountant rather than phil the phanny

Lots of interesting points in there, but the change in auditor's notes stand out:
Last year "emphasis of matter regarding a going concern" - essentially a risk of them going bust
This year "material uncertainty regarding going concern" - 50-50 chance of them going bust

[Pacman1903]

They wont go bust as there are too many idiots willing to pump money into them

[NaeMairNeeps]

They wont go bust as there are too many idiots willing to pump money into them

Aye, true, but only as lang as they get results on a regular basis, and show signs o' SUSTAINED progress .... there are five teams in oor league capable o' burstin that bubble .... that's fit it comes doon tae.

Nae point in pointin fingers at lawyers, SFA, SPFA, etc .... we've done oor bit denyin them a Weegiefest final ... but need tae dae mair. If we and ither capable clubs put them in their 'rightful' place, Ah reckon even the mair idiotic idiots will think twice aboot throwin daft money at them.

G.R.I.T. C.O.Y.R .... and come on onybody else fa's playin against them .... ( except on the odd occasion it disna help us )

[RedStarTorphins]

I see the “tick tock” brigade are out.
(Mason89 I know your post was sarcasm)

Anyone who thinks that mob are “going bust” any time soon are forgetting how Masonic and bent a country Scotland is.
Including our chairman.

I’d put the popcorn back in the cupboard.

[Pacman1903]

I see the “tick tock” brigade are out.
(Mason89 I know your post was sarcasm)

Anyone who thinks that mob are “going bust” any time soon are forgetting how Masonic and bent a country Scotland is.
Including our chairman.

I’d put the popcorn back in the cupboard.

Spot on

[Jupiter]

The original Rangers went bust so there is no reason why Sevco can't too. Of course then there would be a third Rangers.

[redscot]

They wont go bust as there are too many idiots willing to pump money into them

That was the mistake rangers fans made.... liquidated.

sevco are trying to play the same game...they will die on their @rse as well.

Its a pity @rseholes like Milne try to pretend none of this happens.

[Hairdrier]

They are definitely heading in the same direction again - administration and liquidation.
Desperate stuff. Alternatively the 'fans' could buy out the club? Maybe not.