The Immortality Project

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ParanoidWellFan says: October 1, 2013 at 12:20 pm torrejohnbhoy(@johnbhoy1958) says: October 1, 2013 …

Comment on The Immortality Project by torrejohnbhoy.

ParanoidWellFan says:
October 1, 2013 at 12:20 pm

torrejohnbhoy(@johnbhoy1958) says:
October 1, 2013 at 12:14 pm

neepheid says:
October 1, 2013 at 11:02 am
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I agree with what you say.
The turnover at 30th June includes future ST money of around £4.5m.
This will show as a liability on the balance sheet as this money has not been earned.
What I’m saying is that once this money is deducted from turnover it leaves a true figure of around £14.5m for last year.Staff costs are circa £17.5m therefore using the true figure for last year(£14.5m)staff costs were around 120% of last seasons turnover.

Sorry torrejohnboy, not true, that would be 2 credits. Assuming future ST revenue is correctly shown as a liability, it’s not therefore included in the Turnover figure
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Fair enough.
This £4.5m is in the bank though and is part of an £11.2m balance as at 30th June,along with £1.5m in loans from Sports Direct.TRFC are burning cash at a rate of £2.75m per month.At this rate they’ll run out of cash around the end of October.The timescale can be extended a wee bit though with things like Walk up matchday income etc but this is not a lot in the grand scheme of things.
Unless other income sources are found it’s hard to see TRFC surviving much longer than Christmas.

torrejohnbhoy Also Commented

The Immortality Project
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Wow! Although I worry there’s a danger of them destroying the feel-good factor after those accounts | Board Statement http://www.rangers.co.uk/news/headlines/item/5213-board-statement …


The Immortality Project
Charlotte Fakeovers ‏@CharlotteFakes 4m

Suspension lifted. Let’s get to the bottom of who has most to hide. No punches pulled.
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CelticTruthSeeker ‏@treborglasgow Protected account 1m

@CharlotteFakes Let us see then n stop with the flirting 😉


The Immortality Project
adieu ‏@corsica1968 Protected account 18s

BTW, for benefit of Sevconian doubters, I’ve not received any legal threats from anyone. That’s because they know I’m right. Ask FFW & Walt.


Recent Comments by torrejohnbhoy

Accountability via Transparency.
Probably talking rubbish here but what happens if,after debt for equity swap,SD get awarded the around £10m they're reportedly asking for.A move that could trigger a recall of Close Brothers loan.Rangers could find themselves once again with debts of circa £15m.If they can't/won't pay then they could themselves in administration.Unless there's debts we don't know about,then Ashley/Close would control over 75% of said debt in a CVA  scenario.Where would that leave RIFC?.


Accountability via Transparency.
Morning all.

wrt the Whyte/Green switcheroo,I have always believed that Greens very public admission that he stiffed White was not a mistake but a deliberate action to place in the public domain,evidence that would support any future claim by  Whyte or anyone representing either him or future owners of the fixed charge claim.

They were(maybe still are) partners,after all.


One, er, Two Rules to Rule Them All
Update on Ashley V King:

 

Rangers lose latest round of merchandise fight with Sports Direct boss Mike Ashley

By Evening Times Online

 

Rangers lose latest round of merchandise fight with Sports Direct boss Mike Ashley

BOSSES at Rangers Football Club have lost the latest round of a High Court figh

A judge was asked to rule on a disagreement over the meaning of terms of agreements bett with Sports Direct boss Mike Ashley centred on merchandise deals.ween Rangers and a company in the Sports Direct Group.

Sir Ross Cranston on Wednesday said he had ruled in favour of SDI Retail Services.

He said he had made declarations, on the meaning of parts of agreements, "along the lines sought by SDI".

The judge analysed legal argument at a High Court hearing in London in February.

Rangers also lost a round of the fight in October.

Another judge ruled that Rangers had breached the terms of an agreement made with SDI.

Mr Justice Teare concluded that bosses at Rangers had made a new agreement with another firm, the Elite Group, without giving SDI a chance to match that firm's offer.

SDI bosses have made further complaints relating to other agreements involving Rangers and Elite, and Rangers and Hummel.

Rangers bosses dispute claims made against them.

Another hearing is due to take place in April.

Decisions about damages which Rangers might have to pay could be made after that hearing.

https://www.eveningtimes.co.uk/news/17497933.rangers-lose-latest-round-of-merchandise-fight-with-sports-direct-boss-mike-ashley/

 


We’re Gonny Need Another Baw.
Just my opinion of course but I think there's no real ambition amongst most of the clubs in Scottish Football.It's like a cosy wee cartel where nearly every club is happy to tread water.If it was up to me I'd have a top division of 18 with 3 automatically relegated,2 regional divisions below this with the 2 champions automatically promoted and the 2nd & 3rd of both divisions playing off for the 3rd promotion place.If the game is to progress,we must find a way to allow ambitious clubs to climb the ladder.Follow the pattern with regional leagues below these.

Find a way to distibute any cash raised by centrally organised contracts more evenly.Give a lump sum to each division and split it evenly between all clubs.Although the clubs are rivals on the field,they are also inter dependent on each other.TV deals etc are negotiated on a league basis so divide the cash equally.

Of course this could be tweeked but the overriding principle is one of making sure ambitious clubs get a better chance to succeed.


We’re Gonny Need Another Baw.
Cluster One 25th January 2019 at 20:33

Could this be the softening of the bears. “Listen we had to sell our best player even if we did not get the price we wanted,listen we are a loss-making club and cannot run on loans indefinitely we had to sell.What else could we do?

=================================

Who may actually bid for Morelos?.

If discussions elsewhere online are correct,then he definitely wouldn't meet the criteria to gain a work permit to play in the EPL.They're quite strict & any appeal would be unlikely to succeed.Not many EFL clubs have the cash TRFC are hoping to raise by a sale.I can't see many top European clubs being interested either.Who knows,he might just end up in China after all,100% tax not withstanding.

No such problems for James Tavernier,though.The future England Right back/captain can move freely so there's a possibilty TRFC may get a wee windfall which could cover the cost of the Defoe,Davis loans.

 


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