Ibrox fan media is stunned tonight as the least expected news in the world drops, like a bombshell, into their laps; UEFA has them on the Financial Fair Play monitoring list along with one other UK based club, named as Manchester City.
The list, which is for clubs who UEFA thinks are breaking, or are on the threshold of breaking, their new FFP regulations has been published today and the shockwaves of it are reverberating around their forums and “official media partners.”
This partly explains their failure to buy anyone in the latter stages of the window, and the indecent haste with which they first moved Aribo and then Bassey on and their efforts to get Glen Kamara and others off the books before the window slammed shut.
UEFA now wants a better look at their finances; they are not asking nicely like the SFA. UEFA can demand compliance and the signs are strong that they will not be messing about. They want a complete accounting, not the partial nonsense with which the media in Scotland are annually fobbed off. This is a red letter day for their club.
Financially gravity was always going to catch up to that club at some point, and it seems as if that point has arrived.
Their fan forums wrongly believe that this is a consequence of the COVID year; in fact it is not. It is a warning about spending levels and in particular their wages to turnover ratio, which some of us long suspected had edged into the danger zone.
This vindicates all the stuff that we’ve been writing on their finances and what amazes me is the apparently genuine shock felt over there about something we’ve been expecting for a long time. This is a developing story, of course … and a big one.
Obviously, we intend to keep on top of it.
Let them drown and stick a hose in their mouth by winning the League again.
It is only a shock to them because they have been used to getting away with this by the SFA.
Stv news stipulated on Friday 2nd of September ,the Rangers did not bring in anyone else at the end of the window ,as they had done all their business early !Considering it is a media partner and big time advocate for the tribute act, did not utter one syllable of UEFA interest in their blatant abuse of FFP ! I wonder why that could be , hmm ? There are no secrets any more!
It certainly raises lots of questions and does indeed speak volumes for our governing body’s oversight or inaction or even their compliance with their brotherhood if the extent of this is really grim and perhaps explains the continuous flow of diversionary smokescreen the ebox commanders continually fire. Did the SFA stick them in even? I guess we need to know the extent of it first.
Don’t think it totally vindicates everything you and Phil Mac have highlighted but it certainly vindicates the urge from you for financial scrutiny/inspection of them. Well done sir.
Watch this space eh
Not surprised that radio clyde are totally blinking it. Still trying to downgrade Starfelt. Huns and soup-takers. HH
Isn’t it strange that sevco are being held accountable by UEFA in much the same way as they challenged sevco on sectarian singing. Meanwhile our own governing body continue to play the violin and try not to get caught humming along to the ibrox ditties. It appears that the suits at Hampden think that the initials double up as their job description.
Nothing to see here. Nothing for the SFA to get involved in.
Blanking. HH
Swiss Ramble had – as usual – a tremendous summary of the sanctions and FFP rules today. While Rangers weren’t mentioned by him beyond the name check of continued monitoring, a couple things are clear:
(1) the wage to income threshold of 70% hasn’t kicked in yet. That will kick in next year, and it will be much more difficult for clubs to get around the rules with fancy accounting tricks. Rangers based on the latest set of accounts (before last years Europa run and excluding big player sales) would have their wages around 100% of income as UEFA calculates it. Rangers will have to cut wages or increase recurring annual income, but it’ll be 3 years before the threshold finally ramps down to 70%. For now they’re actually okay because this particular rule doesn’t come into effect until next year.
(2) the current monitoring of Rangers is all about the annual losses they’ve been covering over with who are holder loans. They have been well beyond the thresholds for a couple years but have been able to hide behind ‘Covid!’ excuses. That appears to be ending, and it’s possible there’s another shoe to drop yet.
The TV and radio stations as well the newspapers will no doubt do a good job in spinning it from a negative story about sevco into a positive story,they are good at.
As with minorty groups who were blanked too long by authorities and, as a result, took matters into their own hands … so must we. I am forming a Rangers Are Cheats club to raise awareness among the downtrodden masses. Together we can bring them down.
Fuckin’ cheating hun pricks.
Their Investors have pumped approximately £74m in 22 separate tranches into the coffers since Season 2017-18.
Yet despite doing so they still managed to post losses of :
2017-18 £14.3m
2018-19 £11.27m
2019-20 £17.46m
2020-21 £24.2m
Total Losses £67.23m
Total Investment via Debt for Equity. £74.87m
Total £137.88m
In 4 years of Trading.
Raphunzel would have a job spinning that to UEFA even if she let her hair down.
The Brothers Grim have been spinning the media a fantastic tale all along.
HUN BASTARDS.. CHEATING LIKE FUK SINCE 1872..V1 & 2!! GET THIS SCUM DESTROYED RADAY CELTIC!!
A Glasgow derby at Celtic Park usually has me in a somewhat optimistic mood but with nervous misgivings because of the importance and nature of the game. However, this morning I feel none of that, not a twitch of a nerve and, in fact I am treating it as just another bog standard league game, something equivalent to Celtic v KIlmarnock, a given, another 3 points to be picked up by just merely turning up. The team we are playing are just another fly to be swatted out the way as we continue our progress this season. It’s true, I am nether up nor down about it and am seriously calm and confident.
COYBIG!
Seen the team now,,,,,Starfelt?
No doubt the Scottish media will be saying that we have played no one of any consequence yet. LOL