Annual Financial Report

[Ke1t]

This is the Armageddon, coupled with the social unrest, that Regan threatened us with if we didn't allow Rangers to walk straight back into the next to top flight as though nothing had happened. We're only punishing ourselves...

 

This is still worth a read for the lulz.

 

 

 

“LIFT your head up from the floor and look forward.”

If not? “Meltdown. Armageddon. Social Unrest.”

The Game is Dead!

The message from SFA chief executive Stewart Regan could not have been more chilling or clear as he faced the next crucial step for Scottish football.

Regan is convinced the game will not survive if the SFL do not find a home in their top division for Rangers and he has called for unity to find some sort of satisfactory conclusion to this sorry mess.

He’s aware it’s not a solution that will sit easily with some.

Regan knows the SFA will be accused of a stitch-up, that they will be accused of putting cash before integrity.

But he insists it is the ONLY way the game can get through this crisis, which he is fully aware has been created by the past mismanagement at Ibrox.

Scores could be settled but Regan can’t accept that clubs would sacrifice their very being for the chance to stick the knife into Rangers.

Reform, incentives, pyramid systems. Regan has come up with the entire catalogue of reasons why the SFL have to make a decision.

But the biggest reason is simple. If Rangers don’t get into Division One, it’s over.

Clear heads are needed when the SFL meet next week as he said: “We have a real chance to get this right and we need to act quickly and be decisive.

“We need the clubs to buy into the vision and that process has started. There is the moral argument and the fear of a fans’ backlash and there are financial implications to consider.

“But when we look at the alternative it isn’t possible to think about it without thinking of the game withering on the vine.

“We can’t contemplate that and the message has to be that Division One is the only show in town as far as the future of Scottish football is concerned.

“There are groups who will think this is wrong and be convinced we have come to a decision purely on finance.

“I think you can’t look at this complex problem in isolation.

“We can’t punish 41 clubs for the mismanagement of one.

“We have to look at the entire future of the game in Scotland.

“SFL clubs are meeting next week and we’ll await outcome of that with interest.

“We will be discussing the matter with ‘newco’, Mr Green, his advisers and with the SPL.

“We need to take the lead with this and make sure we get it over the line because the alternative is not worth thinking about.

“We are faced with a situation that some say is Meltdown and some say Armageddon.

“Whichever way look at it, it’s not a healthy future.”

Regan is adamant his feelings and findings are based on fact and added: “Already a number of clubs are saying they would have no alternative other than to go into administration if they can’t see a guaranteed distribution that satisfies their costs for next season.

“They are technically then running at a loss and would break their banking covenants.

“As the governing body we have to look at the bigger picture. There is a lot of emotion around this subject because Rangers are a huge institution.

“Without Rangers, there is social unrest and a big problem for Scottish society.

“They have a huge fan base and to contemplate the situation where those fans don’t have a team to support or a game to follow could lead to all sorts of problems for the game.

“There must be an understanding about how serious this is.”

Regan is convinced the SFL will see the bigger picture despite claims they are being pushed down a road their fans won’t tolerate.

The SFA supremo revealed Rangers would enter with some sanctions attached for past crimes.

And he is convinced the timescale is there for the change to be completed.

He said: “As much as there was a lot of emotion at the SFL meeting, there was also a realisation from a substantial group that they couldn’t contemplate a future without Rangers.

“A number of clubs feel they are being put in a situation where there’s no alternative.

“At a time like this we need to look at the facts. Think of the implications of not doing this. They are catastrophic for the game. As the governing body, we can’t allow that to happen.

“There are hard decisions for all of us to make but we have to work in collaboration.

“There is time to get things in place because the SFL can call meetings at short notice. If there is an agreement among SFL clubs, there would have to be an agreement of SPL clubs at their AGM on July 16.

“And there must be a legally-signed contract setting out terms and conditions by which Rangers re-entered football through the First Division. Then it is all systems go.

“We as the governing body have a responsibility to try and make that happen, so we’ve talked with both the SPL and SFL about a package of changes.

“We’ve talked about bringing the two bodies together to a single body with a strong governance model.

“We’ve talked about play-offs being introduced to create theatre between the First Division and the SPL.

“We want to introduce parachute payments for clubs who do get relegated to soften the landing.

“Notwithstanding the moral arguments, the alternatives to Rangers playing in any other division than the first will not help the game. We can’t kill the game and punish 41 clubs.”

[Dandyesque]

Would I be right in thinking we'd have declared a Koss if we hadn't finished 2n?

[caledonia]

The paper that vehemently peddled the armageddon shite has this to say http://www.dailyrecord.co.uk/sport/football/football-news/oh-no--not-more-6873931. Fuck me what a pathetic piece ofs hit the record is.

 

+100000000000000000000000000000000000000

english paper prentending to be scottish

would not wipe my arse with it

 

 

 

 

p.s the vow has also been delivered acording to them - lying wankers

[Monkey]

Would I be right in thinking we'd have declared a Koss if we hadn't finished 2n?

No, but it's a complex thing to work out as the difference in payments for league placings mean on the figures published we would have to have finished 5th to get a loss and that would only have been a £4,000 loss, but that would have resulted in lower bonuses to players and staff which would mean no loss.

To complicate matters the final payments for last seasons league position is not paid until August and this is after our end of year, so I think that income will now be in this year's accounts.

[Dandyesque]

No, but it's a complex thing to work out as the difference in payments for league placings mean on the figures published we would have to have finished 5th to get a loss and that would only have been a £4,000 loss, but that would have resulted in lower bonuses to players and staff which would mean no loss.

To complicate matters the final payments for last seasons league position is not paid until August and this is after our end of year, so I think that income will now be in this year's accounts.

Cheers for that

[Tord31]

So the vaguely interesting bits.....

 

The amount of debt waived by the Bank of Scotland in total was £6.513M

 

In return for this BoS have/had a share of any player sales for the three transfer windows following the transaction (we will be clear of this bit by Feb).

 

A contingent liability will remain relating to the sale of Pittodrie without reinvestment in a new stadium.

 

All liabilities will be released by November 2017.

 

We have remaining debts of £1.2m with directors. This is personal debt and not SMGroup. It looks like we do intend to pay this back. No interest is being charged.

 

Our total Uefa prize money from the first of the two euro runs was £449k

 

Presumably Aberdeen or St Mirren felt strongly the Kenny McLean fee should be undisclosed because despite it being almost common knowledge that initial payment was £175k there is no way to derive this from the accounts.

 

Also, I dont think it is covered elsewhere that Inverness confirmed in their annual report that they turned down repeated bids from Aberdeen for Graeme Shinnie in the January 2015 transfer window.

 

Costs of almost £3m are capitalised relating to the stadium project. This means that if we officially cancel the project we have to write this down and take the cost to the P&L. This would not be a reason for alarm because this is not cash we would pay remembering our total debts are £1m ish and we are confident to repay them soon.

[elephantstone78]

An excellent summary tord. Saves me reading it all now.

[fine-n-dandy]

So what does all that mean in summary?

[Tord31]

it means we are in fucking great nick financially.

 

unfortunately the training ground and stadium are way off

[fine-n-dandy]

So we could maybe bring in some decent players in January?

[Tord31]

presuming our financials replicate the previous season then absolutely

[Robbie Winters]

presuming our financials replicate the previous season then absolutely

Paul Bernard for me then

[fine-n-dandy]

Bump.

[Tord31]

bump

[Tord31]

that time of the year again either tomorrow or the week after.

 

presume best result in the clubs history

[V for Vendetta]

That would be nice.

 

Afc should really be pushing the SFA to implement the Financial Fair Play rules that were supposed to come in 5 years ago. Huns have had their fun, its time for them to live within their means.

 

The rest of is seem to be doing it fine.

[BWG]

That would be nice.

 

Afc should really be pushing the SFA to implement the Financial Fair Play rules that were supposed to come in 5 years ago. Huns have had their fun, its time for them to live within their means.

 

The rest of is seem to be doing it fine.

 

Doesn't FFP only care about losses of £20M over three years or something? It would take another 2 years of similar losses before UEFA would even consider doing anything.

 

Or are you talking about the SFAs own FFP rules which will simply never happen?

[V for Vendetta]

 

Doesn't FFP only care about losses of £20M over three years or something? It would take another 2 years of similar losses before UEFA would even consider doing anything.

 

Or are you talking about the SFAs own FFP rules which will simply never happen?

 

I as referring to SPFL/SFA ones that were all set to be implemented the season after Rangers went into liquidation (from memory). These were quickly forgotten about and never saw light of day, most likely they are sitting in a locked drawer in a Hampden bunker never to be mentioned again.

[Andy_123]

 

I as referring to SPFL/SFA ones that were all set to be implemented the season after Rangers went into liquidation (from memory). These were quickly forgotten about and never saw light of day, most likely they are sitting in a locked drawer in a Hampden bunker never to be mentioned again.

 

Most likely put through the shredder one the day the previous Rangers admin was announced.

 

It'll be interesting to see which (if any?) other clubs are operating at a loss.

 

We should definitely have some sort of FFP rules implemented in Scotland, but it will never happen because it would finally kill off The Rangers.

[BWG]

 

Most likely put through the shredder one the day the previous Rangers admin was announced.

 

It'll be interesting to see which (if any?) other clubs are operating at a loss.

 

We should definitely have some sort of FFP rules implemented in Scotland, but it will never happen because it would finally kill off The Rangers.

 

Pretty sure Motherwell and Killie operate at a loss. Dundee United are hemorrhaging money right now. Dundee operate at a loss but their owners subsidize it.

[V for Vendetta]

 

Most likely put through the shredder one the day the previous Rangers admin was announced.

 

It'll be interesting to see which (if any?) other clubs are operating at a loss.

 

We should definitely have some sort of FFP rules implemented in Scotland, but it will never happen because it would finally kill off The Rangers.

 

I think more accurately they were shredded the day Sevco applied to join the SPFL/SFA and they let it be known that on the fabulous "journey" they'd need to be able to hemorrhage huge amounts of cash due to being managed by a complete balloon who couldn't beat part time teams with the best from the Rangers youth team and a handful of key senior pros (even with specially arranged Referees to ensure the bet possible outcome from every match) - instead they'd need to build an expensive squad as if they were already an Premiership side.

[BWG]

 

I think more accurately they were shredded the day Sevco applied to join the SPFL/SFA and they let it be known that on the fabulous "journey" they'd need to be able to hemorrhage huge amounts of cash due to being managed by a complete balloon who couldn't beat part time teams with the best from the Rangers youth team and a handful of key senior pros (even with specially arranged Referees to ensure the bet possible outcome from every match) - instead they'd need to build an expensive squad as if they were already an Premiership side.

 

What was it they pissed away on their way "back" to the premiership? £30M?

[strachanmcgheegoal]

Sure I read somewhere that once King puts in this further £7.2m that they're up to about £43m all told. So, £36m already burnt on the vanity bonfire and another 7.2m committed to get McInnes in terms of prizes and career progression, erm, what McInnes already gets now.

 

BUT

 

1/ he'd be paid more (albeit not clear if Docherty in particular would be quite so welcome)

 

2/ he won't need to scoop up dog shite from the training ground that was paid for by the other, entirely separate £160m they've burnt through

 

3/ he can be safe in the knowledge that the frankly mammoth effort it would take to win a cup and come second will be affectionately referred to as "not enough, useless tosser (closet taig), get Murty in again"

[V for Vendetta]

 

What was it they pissed away on their way "back" to the premiership? £30M?

 

Aye something like that, although that figure would effectively include the money spent buying the assets of Rangers at distressed prices and forming a new club with them. Green and co certainly got their money back for that and a nice big profit on top.

[V for Vendetta]

Sure I read somewhere that once King puts in this further £7.2m that they're up to about £43m all told. So, £36m already burnt on the vanity bonfire and another 7.2m committed to get McInnes in terms of prizes and career progression, erm, what McInnes already gets now.

 

BUT

 

1/ he'd be paid more (albeit not clear if Docherty in particular would be quite so welcome)

 

2/ he won't need to scoop up dog shite from the training ground that was paid for by the other, entirely separate £160m they've burnt through

 

3/ he can be safe in the knowledge that the frankly mammoth effort it would take to win a cup and come second will be affectionately referred to as "not enough, useless tosser (closet taig), get Murty in again"

 

Well the 7.2m was just the minimum, assuming no outlays on transfers and no other unplanned expenses, to get to the end of next season.

 

It's gone up already with the sacking of Pedro and all his coaches. And will go up again if they have to pay compo for a manager who is in employment and if the replacement for Pedro costs more in salary terms. And indeed even more if they want to make the manager feel welcome by finding him some money to splash in Jan/Summer (although I can't see them giving any manager much)

[fine-n-dandy]

What was it they pissed away on their way "back" to the premiership? £30M?

Was it not around £17m in their first year in the bottom league alone?

 

Or at least that was their operating costs but wouldn't have imagined they made much money back to reduce that amount.

 

Seem to remember we were around £5m to their £17m

[maryhilldon]

Was it not around £17m in their first year in the bottom league alone?

Or at least that was their operating costs but wouldn't have imagined they made much money back to reduce that amount.

Seem to remember we were around £5m to their £17m

They were still getting 40,000+ crowds though remember, and also had merchandize

income pre-Ashley. That's a lot of cash, they just didn't use it well, thankfully.

[fine-n-dandy]

They were still getting 40,000+ crowds though remember, and also had merchandize

income pre-Ashley. That's a lot of cash, they just didn't use it well, thankfully.

40k crowds at cheap prices & most of their fans are concessions too.

[Suspect Device]

I was expecting our financials to be out today. Guess not.

[Tord31]

I'd guess they'll be Friday night assuming no significant change to timetable from previous years. Otherwise we are struggling to hold the AGM in early December as it is every year.