tom_widdows Posted December 1, 2014 Share Posted December 1, 2014 http://www.bbc.co.uk/sport/0/football/30284514 A Rangers supporters' group has urged fans to stop buying club merchandise. The Union of Fans (UoF) made the call after analysing the Rangers International Football Club plc (RIFC) annual results. They are critical of the retail deal with Sports Direct, whose owner Mike Ashley holds almost 9% of RIFC shares. The UoF believe that the agreement compares unfavourably with a previous contract struck with the retailer JJB Sports. The RIFC results revealed that losses of £8.3m were made in the 12 months to the end of June 2014, and that the auditors Deloitte warned of "material uncertainty which may cast significant doubt over the group's ability to continue as a going concern". The RIFC directors revealed that funding of £8m will be required, through loans or equity, to ensure that the business continues to trade for the next 12 months, on the assumption that season ticket sales will return to around 38,000, despite around 15,000 fans refusing to renew last summer, and an increase in season ticket prices. UoF, a coalition of Rangers supporters' groups, sought analysis of the accounts to look at the detail of the agreement between RIFC and Sports Direct, with the two companies having a stake in the joint vehicle Rangers Retail Ltd. Since Ashley increased his stake in RIFC, his long-time associate and former Newcastle United managing director, Derek Llambias, has joined the RIFC board as a non-executive director. Sports Direct also gave up the naming rights to Ibrox that they purchased for £1 from former Rangers chief executive Charles Green, and consolidated "existing marketing arrangements between the parties and results in a more normalised retail joint venture marketing arrangement in which Sports Direct will continue to have certain advertising rights". The UoF said in a statement: "Since the release of the accounts for RIFC PLC, the focus has been on the almost immediate requirement for more cash simply to pay bills and also the board's wish to raise £8m in equity finance despite recently turning down a valid, fully-funded offer for £16m. "However, having had the accounts analysed by qualified accountants, we feel it is important to bring Rangers fans' attention to the reality of the retail deal which has been entered into with Mike Ashley's Sports Direct. "David Somers [the Rangers chairman] stated recently that Rangers 'make quite a lot of money' from the Sports Direct deal, but that is not how the accounts read in our analysis. In fact, despite the loyalty of the Rangers fans seeing £7.6m spent on retail in the year covered by the accounts, the club's share of that spending is £590,000. Union of Fans' statement. "In light of the information revealed in the accounts we urge fans to stop buying merchandise from club stores, which are now under Mr Ashley's full control or being shut down, and Sports Direct." "That means for every £10 spent by Rangers fans on merchandise, the club receives only around 75p. The accounts also reveal that Rangers Retail has an obligation to purchase stock at a higher price than it is able to be sold at. "In the second half of the year covered by the accounts, it appears that the portion of profit due to the club is £2,000. "For comparative purposes, the much maligned JJB agreement, our previous retail deal, made the club a minimum of £4.8m a year over the term of the deal, over eight times the amount we are making from Sports Direct. "Crucially, it is also not clear whether the club has yet received a penny of the £590,000 it is due or whether it is still retained within Rangers Retail. Indeed, from inception it would appear that the club has only received £100,000 in dividends from the venture with Sports Direct. "In light of the information revealed in the accounts we urge fans to stop buying merchandise from club stores, which are now under Mr Ashley's full control or being shut down, and Sports Direct." Rangers declined to comment. Quote Link to comment Share on other sites More sharing options...
Nellie The Don Posted December 1, 2014 Share Posted December 1, 2014 A year or even six months ago I would have thought this sort of thing was absolute gold and, if not actually pissing myself, floor rolling or loling, would at least have issued a hearty chuckle. Now all I can think is Just. Fucking. Die. Already. Quote Link to comment Share on other sites More sharing options...
Superstar Tradesman Posted December 2, 2014 Share Posted December 2, 2014 They've been given every chance to turn it around and continue to stumble from pillar to post. I've enjoyed the circus ride but like Nellie, I just want them dead and buried now. They're £8.3m in debt and need £8m to continue trading for the next 12 months. BAAAAAHAHAHA. Quote Link to comment Share on other sites More sharing options...
manc_don Posted December 2, 2014 Share Posted December 2, 2014 What would happen if they went bust? Would killie get a bye into the next round? It's really getting boring now. I'd laugh if they died before the game against their fellow city dwellers. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted December 2, 2014 Share Posted December 2, 2014 They've been given every chance to turn it around and continue to stumble from pillar to post. I've enjoyed the circus ride but like Nellie, I just want them dead and buried now. They're £8.3m in debt and need £8m to continue trading for the next 12 months. BAAAAAHAHAHA. There are claims from people supposedly "in the know" that Ibrox has suffered so much wear and tear it would cost between £18m and £22m to carry out all the repairs required. There is no way this will be a priority, so the impending costs of that will spiral. Derek Llambias (Ashley's right hand man I think) carried out due diligence on the huns, supposedly told Ashley to stay away from it, total basket case of a club but Ashley still went in. Can only be for a quick buck, he won't be in it for the long haul, particularly now that the accounts suggest another share issue is in the offing. Further dillution of existing shares...there is no future for them as far as I can see; fans now staying away in droves, most of whom did not buy season tickets so that money has not been banked - the fans great plan of paying at the gate as it will guarantee the club more money in the long term backfiring spectacularly as they're not as "Loyal" as they'd like to think. Players will be asked to take a pay cut for December's wages. Maybe they'll take 6 months to then only agree to a deferrment of wages, just like their leader Salary McCoist... Quote Link to comment Share on other sites More sharing options...
Jute Posted December 3, 2014 Share Posted December 3, 2014 Knocked out of the Challenge Cup by Alloa tonight 3-2 despite being 2-0 up with 20 minutes left, Alloa having 9 first team players out and most of their players having just done a full day's work. In excess of £50m spent over 3 years to win 2 part time leagues but fail to win the Challenge Cup.Tribute Act really are the gift that keeps on giving. Quote Link to comment Share on other sites More sharing options...
scotfree Posted December 4, 2014 Share Posted December 4, 2014 https://www.youtube.com/watch?v=I6v2HVj55yY Quote Link to comment Share on other sites More sharing options...
scotfree Posted December 4, 2014 Share Posted December 4, 2014 Quote Link to comment Share on other sites More sharing options...
Jute Posted December 4, 2014 Share Posted December 4, 2014 SFA investigating Ashley's links with Sevco. It would be fantastic if they said that he had to withdraw. Cannot see it though. Quote Link to comment Share on other sites More sharing options...
tom_widdows Posted December 7, 2014 Share Posted December 7, 2014 Lowest league attendance at Ibrox since December 1986 today - 28,137. That means 10,608 have 'walked away' since this time last season Quote Link to comment Share on other sites More sharing options...
BigAl Posted December 7, 2014 Share Posted December 7, 2014 Heard on Radio Scotland that despite the figure reported there was nothing like that number inside Ipox yesterday. Sounds like using the same abacus as the East End Minky Mob. Quote Link to comment Share on other sites More sharing options...
tom_widdows Posted December 7, 2014 Share Posted December 7, 2014 'It was becoming another ragged display and the Ibrox crowd responded with an angry groan. A faint chant of "Super Ally" could be heard faintly from one corner of the ground - but it was the one housing the Blue Brazil's supporters.' Quote Link to comment Share on other sites More sharing options...
Tyrant Posted December 9, 2014 Share Posted December 9, 2014 http://www.dailyrecord.co.uk/sport/football/football-news/police-extend-probe-rangers-saga-4766682 Police extend probe into Rangers saga as Charles Green's buy-out of Ibrox club comes under the spotlight i would laugh so hard if it was found to be completely corrupt as we believe it to be, and everyone associated with the sale is jailed for fraud, then the club folds... Oh how the riots would happen in glasgow :rofl: "police want to know where large sums of money disappeared to during the Yorkshireman's reign at Ibrox." reported as 70million cash burn :eek: :eek: I'll have a go at answering this one: McCulloch: £10k per week. Black: £8k per week. Coisty: £16k per week. And that's just to name a few. Unnecessary and inexcusable when you're in the 4th tier of Scottish football. Quote Link to comment Share on other sites More sharing options...
BigAl Posted December 10, 2014 Share Posted December 10, 2014 Heard on Radio Scotland that despite the figure reported there was nothing like that number inside Ipox yesterday. Sounds like using the same abacus as the East End Minky Mob. See they are now admitting to including "stay away" season ticket holders and that the real crowd number was closer to 19,000 Quote Link to comment Share on other sites More sharing options...
manc_don Posted December 10, 2014 Share Posted December 10, 2014 See they are now admitting to including "stay away" season ticket holders and that the real crowd number was closer to 19,000 That's well and truly pathetic. I'm genuinely amazed an offshoot hasn't been started a la FC United. Quote Link to comment Share on other sites More sharing options...
tom_widdows Posted December 10, 2014 Share Posted December 10, 2014 That's well and truly pathetic. I'm genuinely amazed an offshoot hasn't been started a la FC United. The english league system has the advantage of allowing teams to join at very low levels and work their way up In Scotland its not so easy Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted December 10, 2014 Share Posted December 10, 2014 See they are now admitting to including "stay away" season ticket holders and that the real crowd number was closer to 19,000 According to an "insider" in one of the papers today, the figure was precisely 15,902. Once it hits those figures, it's very hard to see it recovering - it's not as if they're not winning, generally, it's just going to be more of the same as far as this season goes - turgid victories over the likes of Cowdenbeath, Livi and Raith Rovers, striving for a point against Alloa and keeping the score respectable against Hertz and HIVS. I reckon we'll see a sub 10,000 crowd by February. They're a "loyal" bunch alright. Quote Link to comment Share on other sites More sharing options...
tlg1903 Posted December 10, 2014 Share Posted December 10, 2014 Can anyone really blame them ? Would you go and pay your hard earned into the unaccountable black hole that is sevco when you have no idea who is in charge and the football is murder? There are many things the hordes of mordor can be criticized for but their reluctance to attend at the moment is not one of them. Especially after getting burnt fingers from the whyte and green eras. This is starting to feel like the beginning of the end Quote Link to comment Share on other sites More sharing options...
Mentorred Posted December 10, 2014 Share Posted December 10, 2014 I just hope that these people, I use the term people loosely, are not lost to the game but go back to following their smaller local teams. That can only be good for Scottish Football. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted December 10, 2014 Share Posted December 10, 2014 Can anyone really blame them ? Would you go and pay your hard earned into the unaccountable black hole that is sevco when you have no idea who is in charge and the football is murder? There are many things the hordes of mordor can be criticized for but their reluctance to attend at the moment is not one of them. Especially after getting burnt fingers from the whyte and green eras. This is starting to feel like the beginning of the end They choose to support them. They celebrated all the vicotories and lauded all the star players they were paying on the never-ever. They claim to be "Loyal", they claim they don't do walking away. You're right though, can't blame them, but they reap what they sow. I hope they cry themselves to sleep. Quote Link to comment Share on other sites More sharing options...
manc_don Posted December 10, 2014 Share Posted December 10, 2014 They choose to support them. They celebrated all the vicotories and lauded all the star players they were paying on the never-ever. They claim to be "Loyal", they claim they don't do walking away. You're right though, can't blame them, but they reap what they sow. I hope they cry themselves to sleep. I concur completely. The game has survived without them and will continue to do so. Most of these "people" would have chosen to neglect their local teams to support one the scourges. Couldn't care less what happened to them, and I wouldn't want any of them in our support. Quote Link to comment Share on other sites More sharing options...
tlg1903 Posted December 10, 2014 Share Posted December 10, 2014 I just hope that these people, I use the term people loosely, are not lost to the game but go back to following their smaller local teams. That can only be good for Scottish Football. I'm sceptical large numbers would but you may get some of the younger ones, say kids at an upper age of 12-13 when this all kicked off a few years ago, that may decide to start going to watch their local team. Yeah Karma is a bitch BB, the we don't do walking away slogan has become quite the rod for their backs now. Watching this insidious institution crumble apart has been one of the most satisfying sights of my life. I highly doubt any ex rangers fan would decide to start supporting Aberdeen given the animosity between the clubs Manc. It's the more regional teams like ICT, Kilmarnock, ST J that may pick up a few Quote Link to comment Share on other sites More sharing options...
manc_don Posted December 10, 2014 Share Posted December 10, 2014 I'm sceptical large numbers would but you may get some of the younger ones, say kids at an upper age of 12-13 when this all kicked off a few years ago, that may decide to start going to watch their local team. Yeah Karma is a bitch BB, the we don't do walking away slogan has become quite the rod for their backs now. Watching this insidious institution crumble apart has been one of the most satisfying sights of my life. I highly doubt any ex rangers fan would decide to start supporting Aberdeen given the animosity between the clubs Manc. It's the more regional teams like ICT, Kilmarnock, ST J that may pick up a few I know that, I was more just making a point, even though in real terms it would be highly unlikely Quote Link to comment Share on other sites More sharing options...
Andrew Posted December 10, 2014 Share Posted December 10, 2014 I'm sceptical large numbers would but you may get some of the younger ones, say kids at an upper age of 12-13 when this all kicked off a few years ago, that may decide to start going to watch their local team. Yeah Karma is a bitch BB, the we don't do walking away slogan has become quite the rod for their backs now. Watching this insidious institution crumble apart has been one of the most satisfying sights of my life. I highly doubt any ex rangers fan would decide to start supporting Aberdeen given the animosity between the clubs Manc. It's the more regional teams like ICT, Kilmarnock, ST J that may pick up a few A fairly realistic hope would be that kids growing up now who's parent/s support Rangers might go on to support ICT, United, Aberdeen etc. instead. But in reality it will probably just mean more "fans" for the likes of Man U, Barca, Real etc. Quote Link to comment Share on other sites More sharing options...
Kowalski Posted December 10, 2014 Share Posted December 10, 2014 Must be tough for genuine life-long huns though. What we would do if the Dons were being run into the ground by many different people, but in order to keep the club afloat it required bums on seats every 2 weeks! It would be extremely tough on the fans. Quote Link to comment Share on other sites More sharing options...
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