Ibrox Promises Its Fans A “Second Year” Of Profits. But Last Year They Posted A Loss.

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Since time immemorial, people in power have been getting away with telling lies. Some are white lies and some are, to quote a famous soap opera character from the 80’s, “big fat horrible black ones”, the sort that you will get you in real trouble if you get caught out. Our political class has more and more come to lie to us, and that has consequences.

Lies in the public discourse should be easily uncovered and refuted. Or so you would think. Take Rishi Sunak for example; he has been trying to wage culture wars in an effort to stay in Downing Street, and his government has recently taken to talking about the things they want to abolish, in order that the average citizen of this country be more “free.”

But two huge examples – the decision to “ban” the “requirement” for each household to have seven different coloured bins, and the scrapping of a plan for a “meat tax” – have come back to bite him on the backside.

Because neither of these things existed in the first place and his government knows it. He is promising to ban non-existent rules and reject laws which neither exist nor are being proposed to exist. It’s all theatre, political sleight-of-hand.

And because the political media is awake all the time now, in light of the COVID inquiry and the shambles which has seen us go through four Prime Ministers in a space of time that would make one of those tinpot dictatorships blanche, they caught those lies immediately and every time a cabinet minister went on TV, they were pummelled with demands that these promises be explained in light of the fact that they were the equivalent of someone trying to flog beanstalk beans.

When the journalistic class is doing its job things like this are nearly impossible to slip past them. Oh, there are some right-wing rags out there who will pretend this stuff is real, but they mostly operate out of Narnia anyway; much of the public sees this nonsense for what it is. That’s why this Tory Party is in for an electoral tanking, although Labour isn’t exactly progressive looking.

Our sports media is a joke.

Lies like this would get by them easily. We know that because bigger lies than this go unchallenged by these folk. The Survival and Victim Lies are just two examples of it, and nobody should be permitting those and yet they’re part of the discourse and we can’t shift them. That’s Scottish football for you.

But the smaller lies are equally infuriating, and the media’s failure to get on top of them is virtually incomprehensible. Ibrox got away with one of them last year in spite of every Celtic site drawing the media’s attention to the facts.

That lie is being repeated by their club right now, with the objective to spin their coming financial results as a “second year of profit.”

Except, of course, there was no “first year of profits” as we all know full well. They posted a loss last year. A loss of just under £1 million.

That’s actually good by their standards, and they could simply have announced that and people would have been impressed. The media could have written stories about them moving in the right direction and those stories would have been true except for a few caveats which they wouldn’t have explored.

But Ibrox gave them the “operating profit” number and they reported it without questioning what the term meant. The £5 million plus operating profit came before taxes, interest and a bunch of other stuff.

Once that stuff was added to the equation, they made a loss. The consolidated balance sheet has it there in black and white.

They did not make a profit in their last financial statement.

The media is repeating a lie. Ibrox is lying to its own fans and to the hacks and all of them are swallowing it.

Ibrox is good at this stuff. Those accounts probably hide an awful lot which you’d need a proper deep dive into them to find.

But of course, they don’t have to issue accounts in as much detail as we do, because we’re stock market listed and they aren’t, so for all we know there are all sorts of income brought forward or deferred in there just to get to those numbers.

What we do know is that the headline figure reported to the media last year is accurate only up to a point and the contention that they actually avoided a loss isn’t accurate at all, and yet the hacks, with this information freely available to them, are repeating it.

Something else jumped out at me; the claim that paying off two managerial teams hasn’t impacted on their bottom line; well, of course it hasn’t.

These people must think we’re stupid. The media has certainly acted as if it is, but let me clue them in; those accounts only run until the end of June this year; The Mooch wasn’t sacked until October.

So, of course, there will be damn all in those accounts about his dismissal. That won’t factor into the figures until the 2023-24 numbers come out, and yet they’ve managed to sell that as a positive to their supporters and the press is running with it.

They are getting ready to pull another con-job, and the press is already salivating over the prospect of lapping it up. And their fans …?

Well of course they are. This news was delivered to their “fan forum” and there was not a word of criticism raised against it.

That lot will swallow everything, especially if the media provides the spoonful of sugar to help the medicine go down, and they do that unfailingly.

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  • SSMPM says:

    You can count on them having the support of their adoring fanzine press.
    You can count on them discounting too.
    Just ‘stuff’, like basic accountancy and the meaning of the word Liquidation. HH

  • Magua says:

    Sevco have never made a profit in their long 11 year old history. Only a blithering idiot would believe an Ibrox press release. On the other hand, 50,000 folk matching that description, attend the crumbledome on a regular basis.

    Hail Hail.

  • Clachnacuddin and the Hoops says:

    Aye – Well us Celtic supporters don’t call it Liebrox for nothing for sure !

  • Clachnacuddin and the Hoops says:

    As for The Scottish Football Media…

    That’s for the most dense dolts of Scottish society for sure –

    Sevco fans – well fair enough we undeserving that they need and deserve each other…

    But fans of every other club in Scotland that financially supports them really ought to be ASHAMED to be seen doing so…

    Who the hell in their right mind would buy a Scottish newspaper these days – It’s the ultimate humiliation to any semblance of intelligence…

    We get Sevco fans have not got a semblance of intelligence to ultimately humiliate –

    But fans of every other club should have intelligence especially Celtic fans…

    Let them not shame our intelligence !

  • Effarr says:

    We hear the same stuff every year. If it*s not
    “rugger guy” it*s some other fireside seated accountant telling us about the dire state of their finances. If it wasn’t so boring it would be
    great reading but AT THE END Of THE DAY, and EVERY DAY at that, THEY ARE STILL. THERE and show no signs of disappearing.
    As I write, they are celebrating another victory in Europe. I would rather see Celtic with 7 points in the Europa league than watch them getting spanked in the CL. It may be a merciful thing if they don’t win the league this year.

    • James Forrest says:


    • Stephen Adams says:

      That’s an interesting point my friend, and you are probably right about Europa League v Champions League. But unfortunately CL is where the money is and prestige. I would agree we arent CL quality but we need to keep pushing for it.

      My son plays for a wee football team and the have 3 teams in 3 separate divisions, the 3rd team are running away with Div 3 yet “the first team” are middle table in the Div 1. Who is the better side??? What Sevco do is irrelevant to what we do….. we need to get better year on year…. And a few weeks ago we got a 2-2 against a very very good Spanish side, we are punching above our weight. Keep the faith.

    • Clachnacuddin and the Hoops says:

      It won’t be a merciful thing if Sevco win The League as they will then have three trophies (possibly four if they win The League Cup) and be getting closer to us in trophies terms !

  • JC says:

    Happy days. The face painter might get her 40 quid.

  • Johnny Green says:

    I say let them lie and prattle on. Who really cares outwith their own gullible support who are willing to accept just about any bullshit that comes their way. And….. if the media accept it, then all the more well and good, it could be history repeating itself as they wither away and die, while their fans are blindsided by all the feelgood stuff going on in the background.

    Please keep it a secret James just in case the vermin wake up and smell the coffee….. Highly unlikely I know.

  • Robert Downey says:

    Spot on James, the crux of the matter is, they don’t know how or when to produce a balance sheet.
    Perhaps instead of employing managers by the dozen, they should look at employing an accountant, we’ve got a spare one who I’m sure most of the fans would be delighted to let Rangers have him
    Free of charge.

  • Eldraco says:

    You know what am getting to the stage where I don’t give a fuck how they run that rancid club or what bullshit claims they make just leave them to stink up the goldfish bowl they live in.

    The SFA, officialdom and our board? That’s another matter entirely.

  • Tony Donnelly says:

    The SMM have radicalised them, they are just a gullible people, so there is money to be made ????

  • Peter Campbell says:

    To be fair James, it’s not like they said “in a row”.

    Although even without that, I still don’t believe it would be true.

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