The Daily Record is celebrating the award of a platinum licence to the Ibrox Tribute Act tonight as good news become harder and harder to find.
Even by their own low standards it is fairly limited how much you can polish up signing Chris Willock or Jack Butland as a free agent. A former coach or team-mate can always be found to recall some barely known moment of brilliance but even the Gullible & Deluded have limits.
SFA hand Rangers platinum status as they obtain return to top club license approvalhttps://t.co/i98gdXbCYd pic.twitter.com/vskISvbMDh
— Daily Record Sport (@Record_Sport) April 27, 2023
The Record reports:
Rangers have returned to the status of having a platinum SFA club licence.
A silver award was handed to the Premiership side last year but they have been moved up to the top rung of the ladder for the first time since their return to the Scottish top flight in 2016. Rangers join Celtic in that tier with Aberdeen, Motherwell, Kilmarnock, Hearts, Ross County and Dundee United all getting silver awards. St Johnstone and Hibs have been awarded a gold award alongside St Mirren.
No comment or explanation is given over the change in the licence from silver to platinum or the fact that full licencing is now dealt with by UEFA rather than national associations.
Back in September UEFA announced that the Ibrox club were on a ‘watch list’ due to their finances. Crucially new Financial Sustainability Rules have been applied rather than Financial Fair Play, dealt with by independently by UEFA rather than the friendly national associations.
That sort of subtle move is beyond the understanding of the Record’s Sports staff who have described two recent emergency share issues as ‘cash boost opportunities’.
BREAKING! Rangers issue 3 million new shares as Ibrox club create cash boost opportunityhttps://t.co/0COxD3JSI1 pic.twitter.com/IBB4map0fU
— Daily Record Sport (@Record_Sport) April 18, 2023
Ensuring that clubs run on a sustainable basis is the driving force of the new regulations, UEFA will decide whether the Ibrox club are putting their existence at risk in order to deny Aberdeen or Hearts a place in next season’s Champions League qualifiers.
Rangers ‘monitored’ on UEFA watch list amid financial fair play warning https://t.co/gVYsLRDt01
— The National Sport (@NationalSport4) September 2, 2022
Hi, I’ve read in a report earlier tonight that the orcs along with others, including St mirren, had been granted their uefa licence for the upcoming season…..could you elaborate ?
If its the case this is true, are UEFA not making a mockery of their new FSR by granting a club like the mordor one, a licence, given they’ve just had MORE share issues to raise cash, and are openly speaking of breaking their spending records in the sum.er.
I do realise they have to actually spend before UEFA can act….but their club , which is self regulated, and valued by themselves at around 111 million, has just seen that valuation drop by around 31 million, and a further 2 p reduction on shares being auctioned by ASSET MATCH, sees a further approx 14 million, reduction….meaning, by their own valuation, based on share value which they themselves determine…the club is valued around 75 million.
Now I’m no accountant, but as their self estimate is based on shares not regulated by the stock exchange, and not by any tangible asset…since they have NO TANGIABLE ASSETS (stadium, car park, edminston…none owned by club)…and their debts EXCEED their own valuation…does that not mean they are candidates for administration?
Further, WHO is actually selling these shares via ASSET MATCH ?…..given CLUB 1872 purchased 1.250.000 shares, it must be someone high up the rung of investors.
Surely UEFA must bring the mordor club into a registered and completely above board set up of financial structure, otherwise how can UEFA tell when they are breaching FSR …..after all….if the orcs need money they simply print MORE SHARES.
Keep in mind that their recent accounts showed a discrepancy between WHEN they said they paid KING and when they actually paid him…..meaning the accounts were “doctored”to favour the club….especially given European licence application.
Perhaps someone can explain this set up….hh
Editor: UEFA will now audit the applications sent their way by the national associations.