The troubled Ibrox Tribute Act has had their third share issue of the year with Chairman John Bennett and George Taylor getting 3m shares in exchange for loans of £750,000.
Clearly with no cash reserves to call on there must be serious doubts that Micky Beale will have the unrestricted transfer budget that he recently spoke about,
Over the past month the Tribute Act has lost a Chairman, a Sporting Director and had two share issues to meet day to day invoicing and payroll demands.
On Friday the Season Ticket Renewal campaign was launched but with the wage bill soaring the need to ensure a place in the group stage of the Champions League appears crucial, the fall back of the Europa League would result in severe restrictions to Beale’s revamp.
With the Champions League Play Off round in the final week of August there isn’t much time to adjust budgets, Giovanni van Bronckhorst wasn’t given any additional spending despite beating PSV Eindhoven to hit the jackpot for the first time ever.
In the accounts registered with Companies House it was noted that there had been a net outgoing of fees despite the hyped up transfers of Calvin Bassey and Joe Aribo.
Rangers allot another 3,000,000 shares to convert more loans.
John Bennett got 2M (£500k loans) & George Taylor 1M (£250k loans).
In an amusing side note, @club1872rfc now falls to 4.96%. pic.twitter.com/09hQkbE1Yo
— GrandOLTeam (@JBLuvsCeltic) April 18, 2023
With Dave King and Douglas Park no longer in the boardroom two more loan sources have been cut off.
The additional £750,000 is likely to be presented as another boost to Beale’s transfer war-chest by the Daily Record.
Rangers ‘monitored’ on UEFA watch list amid financial fair play warning https://t.co/dDbXx7vQNv
— Glasgow Times Football (@GT_Football_) September 2, 2022
Once again I posted this just the other week the same as I predicted for March,and here we are again GROUNDHOG DAY in April.
Tuck shop FC are f****d and King is ready to ride to the rescue,and the BENJAMINS will oblige.
Let’s hope uefa are watching what’s happening at aye broke having to use share issue after share issue to keep the lights on now that the corrupt SFA can’t help by turning a blind eye to a club living out with its means. It seems FSR doesn’t apply at ibrokes
Just ‘ Cash boost ‘ after ‘ Cash Boost ‘ over there lately huh
Skint FC. People havent been paying attention if they think Park hasnt ‘taken’ his loans out in various ways.
They are feckd
Not a fockin single “Loya lBear” would put his hand in his pocket for a penny, for their beloved football team!
A-ha-ha-ha! It’s enough to make you cry!
They just can’t get their heads round the fact that they’re a Diddy club. For war-chest read bread bin. The season ticket money will keep the charade going for another 7 or 8 months.
Hope Celtics response isn’t to cut Anges budget to keep the filth competitive. You know how Desmond and Lawwell value the blue pound and protecting that *ld f*rm trademark they bought.