Transparency from the Board re financial impact of Covid-19

If any players for any team agree a pay cut you can be 100% sure it won't be kept quiet. The players egos wouldn't allow that.

I expect some movement on this next week for all clubs big and small. It helps that some of the biggest clubs in the sport have shown the way.
 
I hope discussions are going on in private. The once it has been agreed a press release can be issued.
 
The lessons of 2012 should never be forgotten. All we need is honesty and transparency.

The poster didn't say he was going to intervene but we need the club to treat us like adults.

They are! Adults, at least real adults, don’t have the constant need to know every detail of everything going on. Now the twitter, Facebook, celebrity obsessed generation Z and millennials, may have a different problem, but as I said real grown ups, not so much.
 
Every business in the land is trying to understand the impact, but with so many variables it is nigh on impossible to assess with any accuracy. I am sure all businesses are modelling a worst and best case business case and others in between; I know mine is. For the moment at least, I certainly don't think the board needs to be telling us all about their plans, simply to satisfy the wishes of some for "transparency". Some things are much better kept private, to aid the delivery of a better outcome for all of us.
 
I would rather negotiations were not played out in public.

We aren’t Juventus with a squad full of multi-millionaires. There will be several players on our squad who simply can to afford a significant reduction in their wages over a prolonged period.
 
Until the club have a financial structure with agreements with those affected in place, they should not be providing a commentary on anything.
 
Defo if barca are doing it,all clubs will do it,this as we no is a crisis,we love our club,as normality our loved ones and community come first.Be prepaired bears,as the worst has yet to come going by figures.season is secondary and a write off.We will do our duty and protect family friends,and our peers.We are football,and we are open to all,great gesture for our club to help nhs,all clubs should follow,this is not a dig,it should be a given.For bears in nhs,stay safe and fight hard,for bears who are carers,or being a good person I salute you all.catholic/protestant is irrelevant,we should help our neighbour.Proud to be a bear,and a part of community,stay safe people.
Space bar busted ?
 
I think the Leverkusen game has been a godsend tbh.
Means we can probably hold off later than other clubs.
 
Why do some think the club, as a business, should tell all and sundry how secure or otherwise we are financially. Would any poster on here like to share their bank account details? Nope.
The board are there to run the company and we must trust them....they haven't done too bad a job recently.
All the noise on this helps fuel uncertainty and feeds the kerryfail admin number ##.
Yes, things will be tight but there will be a need to know basis.
 
Where is the money coming from to spend right now and over the summer.

Last years season ticket money was spent running the club over the season.

The issue here is cash flow, particularly for a cash only business.
Since when was football at our level a cash only business?
 
Since when was football at our level a cash only business?

That's my take on what the accounts say. I am happy to be corrected.

LIQUIDITY AND CAPITAL RESOURCES

The RIFC Group maintains cash to fund the daily cash requirements of its business. The Group does not have access to any further banking facilities.

As at 30 June 2019, there are interest-free, unsecured loans with investors amounting to £10.3 million, other commercial loans of £3.0m, whilst the Group also has finance lease agreements totalling £1.2 million.

As at 30 June 2019, the Group held £1.0m within cash and bank balances.
 
Footballers cannot expect to be treated differently from any other workers. Thousands of people in the country are having to take wage cuts in order to save their jobs in the long term. Our players will more than likely have to do the same
 
Has the fighting fund money been used for the new stand yet? If not, I'd hope Rangers will have access to it for every day use in this crisis. This is exactly the sort of scenario where I'd hoped the money could be used, and until that time stay untouched.

I realise that this is an unforeseen and highly unusual situation, but over the years we've faced plenty of these. From people out to get us to unfortunate circumstance.
 
Unless we have shares in the company, it is really none of our business how the Board handles things like staff salaries. We may be fans but that's all we are.
 
We will have the gate money from the Europa, less significant cost, but I’m fairly sure the ‘real’ money from UEFA comes much later in the season. I’m surprised there’s been no mention of UEFA, like the SPFL, paying out some of the money early.
I think the UEFA money doesn’t come in until the competition has been completed.
 
Unless we have shares in the company, it is really none of our business how the Board handles things like staff salaries. We may be fans but that's all we are.

No, things like commercial confidentiality don't count, people should be getting a daily update on what action the board of a PLC are taking with regards the financial rammifications of a Global pandemic.
 
I would be very surprised if this isn't being discussed by the board, management and senior players.

However, I have no interest in hearing about their talks. Once they have something concrete to tell the fans we will be told.
I took it from the club statement that the task force would be looking at this.
 
We don't have ask the season ticket cash for this season. Any paid by credit card is released proportionately by the credit card companies after each home game.
 
Barca, Juve, Bayern, and closer to home Hearts, Hibs, sheep - all clubs will be affected by the coronavirus lockdown and loss of earnings.

Rangers will not be spared and you expect difficult times for us, and actually, it pales into insignificance if our loved ones are falling ill with a horrible illness.

I've not been on here much but I haven't seen too many threads on the potential severe financial implications of the coronavirus on the club. But due to what we've been through in the past I'm finding it concerning that there's been little said (and the lines about funding in the statement about the appointment of Park are vague and woolly) from the club about our financial position and implications of funding stopping overnight. The one thing we wanted after 2012 was transparency, regardless of how good or bad things get.

In terms of a current threat, this is huge. I'm sure the Board are taking measures behind the scenes, and the players have been approached re a wage cut - but we deserve to know what's going on and if there are big issues ahead then we need to know early.

Difficult times ahead, it’s a moving target for everyone, but it’s looking much more like this is a long haul process - and all the financial easing that comes with that, I’m not sure your average fan will be in any position to help depending on how this all goes, we will be talking to our governing bodies, our sponsors and media deals ect ect - but there is a huge question mark over everything at the moment.
 
If we had made a statement like the sheep, hertz etc, the Scottish media would have jumped on it saying we were heading for armageddon mark2. Hopefully all our dealings are being conducted in private & an announcement of our course of action will be given in due course. Plus, just a thought, but why is there no clamour to hear what the filth are doing to get through this?
 
100% agree with you. We don't need to know the details. Would you like your pay discussed in public?

But I would like a broad statement giving us a reality check. For example how much are we losing per week? Expected losses over 1 month, 3 months etc. How long can we continue trading? How can shareholders help? How can supporters help?
After the fiasco with the fighting fund money, a lot of fans will be wary of giving money blindly.
 
Nobody can comment on the implications of Covid 19 because nobody knows how it is going to pan out. Looking at what polititians are saying it will be months before football is played again other than behind closed doors
 
We don't have ask the season ticket cash for this season. Any paid by credit card is released proportionately by the credit card companies after each home game.

That is a ridiculous situation.

The credit arrangement is between the credit card holder (the supporter) and the credit card company.

It is not between the club and the credit card company.

Once the credit is agreed the money should be paid across.
 
Did the government not say that VAT bills did not have to be paid this quarter.
That would be a fair bit of cash that could be used to tide us over until season ticket renewals can start. Whenever that might be.
 
Not being arsey here but why? What are you going to do about it? Unless you have tens of millions you are prepared to write off you don't need to know anything at this stage.

Would say that having already paid for football matches that are unlikely to take place, and being asked for next season's ST money before we know what's going happen there either means that fans are entitled to ask questions.
 
Did the government not say that VAT bills did not have to be paid this quarter.
That would be a fair bit of cash that could be used to tide us over until season ticket renewals can start. Whenever that might be.

Correct mate, pushed back 3 months.


That gives a little breathing space but there's no guarantee we're back playing in 3 months.
 
Barca, Juve, Bayern, and closer to home Hearts, Hibs, sheep - all clubs will be affected by the coronavirus lockdown and loss of earnings.

Rangers will not be spared and you expect difficult times for us, and actually, it pales into insignificance if our loved ones are falling ill with a horrible illness.

I've not been on here much but I haven't seen too many threads on the potential severe financial implications of the coronavirus on the club. But due to what we've been through in the past I'm finding it concerning that there's been little said (and the lines about funding in the statement about the appointment of Park are vague and woolly) from the club about our financial position and implications of funding stopping overnight. The one thing we wanted after 2012 was transparency, regardless of how good or bad things get.

In terms of a current threat, this is huge. I'm sure the Board are taking measures behind the scenes, and the players have been approached re a wage cut - but we deserve to know what's going on and if there are big issues ahead then we need to know early.
If they speak out they are selfish and thinking of sport when folk are dying.
Oh, and maybe the board have spoke and are happy to cover it. Or feel we can cover it with Euro monies?
 
That is a ridiculous situation.

The credit arrangement is between the credit card holder (the supporter) and the credit card company.

It is not between the club and the credit card company.

Once the credit is agreed the money should be paid across.
Companies also need to get agreement from credit card companies, who are liable for refunds if the service isn't performed.

The credit card companies are just limiting their exposure.
 
Would say that having already paid for football matches that are unlikely to take place, and being asked for next season's ST money before we know what's going happen there either means that fans are entitled to ask questions.

We haven't been asked for next seasons ST money.
 
The whole football industry has stopped. The players should probably just be grateful that they’ve got a job at this time. I’m sure they might have a bob or two kicking around to see them through (that said lavish lifestyles etc) but where can they go? Everyone is affected in every industry.

Even my Mrs (not a football player) has just been asked to take a 25% wage cut in her job, I suspect I’ll have to do the same soon. The world is going to look pretty different unless we can kick this virus off the park soon.
 
I would rather negotiations were not played out in public.

We aren’t Juventus with a squad full of multi-millionaires. There will be several players on our squad who simply can to afford a significant reduction in their wages over a prolonged period.

Who can afford to take a significant reduction in wages over a prolonged period? None of us, yet that's the reality.
 
Surely any deal is between the management and the players - not really our business is it ?

Provide details in the annual report perhaps.
 
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