Past the Event Horizon


Looks like lots of small shareholders are bailing out – …

Comment on Past the Event Horizon by m.c.f.c..

Looks like lots of small shareholders are bailing out – fans I guess. So many will have paid £250 for a season ticket and at least the same lost on shares that have halved in value over the year. So paying double for a season ticket next year should not seem excessive.

m.c.f.c. Also Commented

Past the Event Horizon
Tif Finn says: (1056)
December 22, 2013 at 9:48 pm

The £10m has been required for many years, that has been the difference between income and expenditure when European money was not available.
It has simply become more obvious since the new club came into existence and the money just wasn’t there, and the credit facilities are not available to bridge the gap.
Nothing has changed, they are still spending more than they earn to buy success.
Light Bulb Moment

Thanks Tif Finn – you have just crystallized the whole saga for me – I now have the “elevator speech” for what is wrong with Rangers.

They are simply £10,000,000 per year less efficient than Celtic – so without Euro money the books don’t balance by £10m/yr so they end up with EBTs, side letters, WTC, BTC, Whyte, Admin, Liquidation, Sevco, Spivs. Dodgy IPO, Unknown Owners, Dubious Deeds, Leaseback.

And with that I’ll sign off until 2014 – Merry Christmas everybody, a Happy New Year and may your God go with you.


Past the Event Horizon
Supermarket Sweep

Malcolm Murray’s cash flow projection: “This thing needs an injection of roughly £10m over the next 18 months.”

Well Malcolm, if you rasie £10m and come back in 18 months you’ll be able to buy almost everything in the Tesco Extra store at Ibrox.

Past the Event Horizon
Angus – that’s an absolute classic – essential viewing for every follower and bampot alike – seems so long ago now – those were the good old days 🙂

Recent Comments by m.c.f.c.

Podcast Episode 1
Campbellsmoney says:
February 12, 2014 at 1:49 pm
I should fess up – I am not really in Samoa. I just wanted to say somewhere over the dateline.
One of my favourite sports ‘quotes’ of all time: Western Samoa beat Wales 16-13 in their 1991 Rugby World Cup group match at Cardiff Arms Park, giving rise to the welsh quip: “Thank goodness we weren’t playing all of Samoa”.

Podcast Episode 1
Tartanwulver says:
February 12, 2014 at 1:22 pm

It’s not just about having suffered ingratitude for letting Rangers back in the last time, its about fear of what might happen if they don’t let it happen again.
I’m sure the SPFL will help them out of the next Admin event – as the path of least resistance and most convenience and living in the hope that things can return to “normal”. But “normal” was never normal and is never coming back. I strongly believe that if The Rangers do not adapt quickly to their new place in the 21st century, they will self destruct and the SPFL will get bored with them .All the evidence indicates they are not adapting. As for intimidation by psychopaths in the name of football – that’s a wider and more serious social issue.

Podcast Episode 1
Corporate Death Spiral

When an organization organizes its affairs around its internal needs / convenience / comfort to the detriment of the people and organizations that provide its revenue, it is choosing to put itself at a strategic disadvantage to other organizations, similar and dissimilar, that wish to earn that same revenue from those people and organizations.

Or in other words – piss off paying customers, sponsors etc and they’ll find somewhere else to spend their money – and not just elsewhere in your industry. The SPFL is becoming a case study of death by introversion.

Podcast Episode 1
ParanoidWellFan says:
February 12, 2014 at 12:41 pm
However, The Rangers will never be ‘of inconsequential commercial value’ to the SPFL due to the size of their fanbase.
The fanbase depends on the Big Club Rangersness and TRFC can’t afford the Big Club Rangersness. They can either adapt to this new reality or stumble from Admin to Admin until they finally die. All the current evidence suggests they are not adapting.

Bigger organizations than The Rangers have died before and will die again.

Podcast Episode 1
Carntyne says:
February 12, 2014 at 12:38 pm

The only thing that might prevent Third Rangers is total financial insolvency.
Carntyne – they have a £10,000,000 / year overspending habit and have not responded to rehab. Their institutional dealers have scarpered, Institutional methadone has been withdrawn and eventually they will alienate their friends and family. The trajectory that follows is sad but 99.9% inevitable. The only chance of redemption is cold turkey and an entire change of lifestyle, associates and environment. There is a very slim chance that one day we’ll all be getting lectured on fiscal probity by The Clean Rangers – a very slim chance.

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