Monthly Archives: January 2013

Charles Green of Rangers Gets Naming Rights Example Wrong or Else Mike Ashley Has a Time Machine

I would like to offer my thanks to commenter COYBIG for picking up on another inaccuracy, though again surely inadvertent, in Mr Green’s latest ramblings.

For some unaccountable reason the mainstream media seem reluctant to point out inconsistencies or errors emanating from Ibrox. Maybe they are working on the basis that James Traynor and Charles Green are an irresistible force, or at least immovable objects.

Last Thursday Mr Green was on about naming rights to Ibrox stadium.

As an aside I note that Mr Green is quoted in the piece saying the following:-

What I said last night is that I personally am going to fight to get the Ibrox name in the new title.

Now Mr Green is, unless I am very much mistaken, the CEO of Rangers International FC PLC and also the CEO of Rangers Football Club Ltd. One or both of those companies will be selling these rights. As the CEO of the seller, one assumes Mr Green is in position to tell any prospective buyer “Ibrox stays in the name”. Continue reading

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Did Charles Green Forget He Runs a PLC Now? Did He Err Making a “Loss Forecast” Outwith the Rules?

I wrote yesterday about Mr Green revealing that “Rangers” will make a loss this year. As I mentioned, his comments on the official Rangers website raised a couple of queries regarding (a) the correctness of the information given on the website and (b) the obligations of the Chief Executive of a quoted public limited company when telling people about potential profits and losses. I addressed the first point in my last post.

A quick reminder of the relevant extracts from the article:-

CHARLES GREEN has detailed how he plans to turn Rangers from a loss-making company into a profitable one over the next year.

As per projections in the prospectus made available to potential investors late last year, the 2012/13 campaign is seeing money being lost by the Light Blues.

Green said: “The company is currently trading at a loss and the reason for that is our income is halved from coming out of the SPL and Europe and going into the Third Division.

“Typically, Rangers would be close to a £60million turnover per year and we’re down to below £30million now.

“It’s not an overnight thing. All of those things will take a year or two but the losses are a one-year thing and they won’t be here next year. We’ll grow and grow thereafter.”

As I said, the article does not confirm precisely which “company” he is referring to. Reference to the prospectus might suggest he is speaking about the company which was the subject of the prospectus, namely Rangers International Football Club PLC. Continue reading

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A Weekend of Coupon-Busters Shows Why Football Is So Popular! + Poll on Which Boss To Be Sacked First!

The great unpredictability of football shows itself yet again this weekend.

On Friday night Championship Millwall defeated Premier League Aston Villa.

Arsenal, one of the classiest sides in English and indeed European football, scrape through with a win against lower division Brighton and Hove Albion.

Non-league Luton beat Premier League Norwich, at Carrow Road, for the first win by a non-league team over a top division English club in the FA Cup since 1989! Continue reading

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Did the Rangers Share Prospectus Project a Loss for This Year? A Prize if You Can Find It!*

This week Mr Green revealed that “Rangers” will make a loss this year. Sadly, from what I read, he did not indicate if this was “Rangers” the football club; Rangers Football Club Ltd (formerly Sevco Scotland Ltd); or Rangers International Football Club PLC.

However his comments, quoted on the official Rangers website, raised a couple of queries regarding (a) the correctness of the information given on the website and (b) the obligations of the Chief Executive of a quoted public limited company when telling people about potential profits and losses. I will address the second in a later post.

As extracts from the article state:-

CHARLES GREEN has detailed how he plans to turn Rangers from a loss-making company into a profitable one over the next year.

As per projections in the prospectus made available to potential investors late last year, the 2012/13 campaign is seeing money being lost by the Light Blues. Continue reading

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Rangers Stadium Naming & Sports Direct by Ecojon

I might be totally off track but the news about the proposed renaming of Ibrox rang a few memory cells in my old noddle.

I have no intention of looking at the pros and cons of renaming or rebranding an established stadium as I truly believe it is a matter for fans to decide on unless club finances are critical and there is no option.

It would appear from press reports that Charles Green is meeting Bear reps at Ibrox tonight presumably to ‘sell’ the idea. Press reports also suggest it’s virtually a done deal with Sports Direct owner Mike Ashley. Continue reading

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