£4.5m needed by end of season to save business
Begging fans to buy tickets for Jambos game...sales slow?
"I'm working very hard to get Rangers through this administration process and out the other end as quickly as possible and make sure that Rangers are a successful and strong business going forward and that's what we are working towards."
Craig Whyte
and you all thought he didn't care
Ghod...he must be buying Berwick...or Queens Park...They have a big stadium and Queen in name.Imagine Queens Park Rangers playing in Scotland..Plus only way they'll see Hampden in next 20 years!!!
"No redundancies to be announced until next week, the sole focus of everyone at the club is for tomorrow's home game against Hearts."
Something along those lines, I'm guessing.
Jim White says not as bad as expected...Save £1 million per month. They can't even pay £84 grand to Dunfermline...What is he on?!?!?!?
DUFF and Phelps, the administrators of Rangers Football Club, issued the following statement today.
Paul Clark, joint administrator, said: "We appreciate this has been an extremely difficult week for all the staff of Rangers Football Club and the supporters.
"As administrators, we had anticipated completing our review of staffing levels and cost structure of the Rangers business this week but the participation of a number of players in international fixtures did interrupt the process.
"In short, the Rangers business is trading at a substantial loss and we have no alternative but to fill an approximate £4.5 million shortfall by the end of the season. It is therefore imperative that we find savings of approximately £1 million per month to ensure the ongoing viability of the business.
"As has been widely publicised, there have been a number of discussions this week in an effort to achieve the necessary cost reductions. We are determined that all realistic options should be explored and today discussions have been ongoing with Ally McCoist who, in turn, has been speaking to his players and the PFA Scotland.
"We would prefer to reach a consensual position but as the day has gone on and tomorrow's very important match against Hearts looms larger, it has been agreed that any final decisions have been postponed until early next week.
"On other matters, we can report that we made this week an emergency application to the High Court in London to secure money held in the client account of solicitors, Collyer Bristow, who had acted for the purchaser of the Club in May 2011.We can confirm that following the court hearing Collyer Bristow paid approximately £3.6m to our lawyers, Taylor Wessing, to be held securely by Taylor Wessing until the High Court decides whether or not it is the Club's money.
"Collyer Bristow will also disclose to Taylor Wessing details of the payments of funds out of their account on behalf of the Club since May 2011.The High Court in London will hear further representations on the administrators' claim to the money and our request for further information from Collyer Bristow on 8 March 2011.
"Since legal proceedings are ongoing we cannot provide further information but this is a positive step in the administrators' investigations into the Club's financial affairs.
"Right now, the situation is quite simple - income generated now will help secure the future of Rangers and we encourage supporters, who have shown tremendous backing for the Club throughout this process, to buy tickets for the Hearts game at Ibrox tomorrow and future home matches.
http://rangerstaxcase.com/2012/03/02/time-for-leadership-at-sfa-spl/
A million a month to save in total 4.5 mil until the end of the season? somebody should tell them the season ends in May and not July. I thought these guys were brought in because they can do sums??
Pallaver,
They must be including the marching season.
maybe they meant to say a million a week
Christopher Harvey @ChristopherHarv
Having reported on quite a few admins - this is the oddest one yet.
You said it pal.
Thoughts?
Natalie Sawyer is lookin' well tasty
Natalie Sawyer
Huckleberry Damn Fine
I think its good news for the bears. I know a lot more is going to come out of this before the bears are back in the black but if they get a hold of that 3.6m and the Support turn out for games then they might just stay alive. Obviously with other investigations going on they may be in the dog house and even may get relegated to the 3rd division but at least their history is intact and we have the old firm derbies.
Celtic are in charge for the near future and it will be nice to have the Gers as the league whipping boys for the next few seasons Good news for the good bears but things could still get ugly.
How can Jim White concentrate with Natalie next to him for about six hours everyday?
thoughts? seriously? their absolutely feked. big time. games up.
Ooft! At least Natalie will take Jim's mind off his beloved Rangers!
Natalie
I cant concentrate knowing my hand is attached to my wrist
Jim White has been brilliant these last few weeks, the anger building inside him is so conspicuous when Craig Whyte is on the phone!
It's time Jim let it all out and gave Whytie his character reference live on air
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Statement
Page 1 of 2
posted on 2/3/12
Found the Warchest
posted on 2/3/12
£4.5m needed by end of season to save business
posted on 2/3/12
£1 million per month
posted on 2/3/12
How? Liquidation!!!
posted on 2/3/12
Begging fans to buy tickets for Jambos game...sales slow?
posted on 2/3/12
"I'm working very hard to get Rangers through this administration process and out the other end as quickly as possible and make sure that Rangers are a successful and strong business going forward and that's what we are working towards."
Craig Whyte
and you all thought he didn't care
posted on 2/3/12
Ghod...he must be buying Berwick...or Queens Park...They have a big stadium and Queen in name.Imagine Queens Park Rangers playing in Scotland..Plus only way they'll see Hampden in next 20 years!!!
posted on 2/3/12
"No redundancies to be announced until next week, the sole focus of everyone at the club is for tomorrow's home game against Hearts."
Something along those lines, I'm guessing.
posted on 2/3/12
Jim White says not as bad as expected...Save £1 million per month. They can't even pay £84 grand to Dunfermline...What is he on?!?!?!?
posted on 2/3/12
DUFF and Phelps, the administrators of Rangers Football Club, issued the following statement today.
Paul Clark, joint administrator, said: "We appreciate this has been an extremely difficult week for all the staff of Rangers Football Club and the supporters.
"As administrators, we had anticipated completing our review of staffing levels and cost structure of the Rangers business this week but the participation of a number of players in international fixtures did interrupt the process.
"In short, the Rangers business is trading at a substantial loss and we have no alternative but to fill an approximate £4.5 million shortfall by the end of the season. It is therefore imperative that we find savings of approximately £1 million per month to ensure the ongoing viability of the business.
"As has been widely publicised, there have been a number of discussions this week in an effort to achieve the necessary cost reductions. We are determined that all realistic options should be explored and today discussions have been ongoing with Ally McCoist who, in turn, has been speaking to his players and the PFA Scotland.
"We would prefer to reach a consensual position but as the day has gone on and tomorrow's very important match against Hearts looms larger, it has been agreed that any final decisions have been postponed until early next week.
"On other matters, we can report that we made this week an emergency application to the High Court in London to secure money held in the client account of solicitors, Collyer Bristow, who had acted for the purchaser of the Club in May 2011.We can confirm that following the court hearing Collyer Bristow paid approximately £3.6m to our lawyers, Taylor Wessing, to be held securely by Taylor Wessing until the High Court decides whether or not it is the Club's money.
"Collyer Bristow will also disclose to Taylor Wessing details of the payments of funds out of their account on behalf of the Club since May 2011.The High Court in London will hear further representations on the administrators' claim to the money and our request for further information from Collyer Bristow on 8 March 2011.
"Since legal proceedings are ongoing we cannot provide further information but this is a positive step in the administrators' investigations into the Club's financial affairs.
"Right now, the situation is quite simple - income generated now will help secure the future of Rangers and we encourage supporters, who have shown tremendous backing for the Club throughout this process, to buy tickets for the Hearts game at Ibrox tomorrow and future home matches.
posted on 2/3/12
http://rangerstaxcase.com/2012/03/02/time-for-leadership-at-sfa-spl/
posted on 2/3/12
A million a month to save in total 4.5 mil until the end of the season? somebody should tell them the season ends in May and not July. I thought these guys were brought in because they can do sums??
posted on 2/3/12
Pallaver,
They must be including the marching season.
posted on 2/3/12
maybe they meant to say a million a week
posted on 2/3/12
Christopher Harvey @ChristopherHarv
Having reported on quite a few admins - this is the oddest one yet.
You said it pal.
posted on 2/3/12
spot on Henrik
posted on 2/3/12
Thoughts?
Natalie Sawyer is lookin' well tasty
posted on 2/3/12
Natalie Sawyer
Huckleberry Damn Fine
posted on 2/3/12
I think its good news for the bears. I know a lot more is going to come out of this before the bears are back in the black but if they get a hold of that 3.6m and the Support turn out for games then they might just stay alive. Obviously with other investigations going on they may be in the dog house and even may get relegated to the 3rd division but at least their history is intact and we have the old firm derbies.
Celtic are in charge for the near future and it will be nice to have the Gers as the league whipping boys for the next few seasons Good news for the good bears but things could still get ugly.
posted on 2/3/12
How can Jim White concentrate with Natalie next to him for about six hours everyday?
posted on 2/3/12
thoughts? seriously? their absolutely feked. big time. games up.
posted on 2/3/12
Ooft! At least Natalie will take Jim's mind off his beloved Rangers!
Natalie
posted on 2/3/12
I cant concentrate knowing my hand is attached to my wrist
posted on 2/3/12
Jim White has been brilliant these last few weeks, the anger building inside him is so conspicuous when Craig Whyte is on the phone!
posted on 2/3/12
It's time Jim let it all out and gave Whytie his character reference live on air
Page 1 of 2