With eye- watering losses of £17.2m announced for the year to 30 June 2024 the Daily Record has come to the rescue of worried bears with news of a new billionaire coming to the rescue.
After championing Craig Whyte from November 2010 through to January 2012 any publisher with a sense of self-awareness would avoid like the plague mentioning the phrase billionaire in association with clubs from Ibrox.
With print sales down to around 45,000 a day the Record has long given up on self-awareness with an increasing desperation about their digital content.
Some bears were showing signs of mild concern about the 2024 accounts but coming to the rescue the Record last night reported:
Director John Halsted has held talks about putting a major cash injection into Rangers.
The American billionaire, who specialises in equity investment, is looking at the possibility of putting much-need additional capital into the cash-strapped Ibrox club. The wealthy businessman has held detailed discussions with the Rangers board over a potential new investment.
Rangers chairman John Gilligan has previously said there is fresh investment set to come in from the current regime. Halsted, who is managing director of Pamplona Capital Management, looks to be the most likely option. It comes after the Ibrox side announced their annual figures and that included an alarming operating loss of £17.2 million.
The club announced record revenues of £88.3 million but crippling operating costs have turned that into a loss.
Halstead has been a shareholder since 2020 and a Director since 2023 during which time the club has appointed Giovanni van Bronckhorst, Micky Beale and Phil Clement in their attempts to stop Celtic’s domination. Outside of Ibrox related sources there is nothing to confirm Halstead’s wealth, on or off the radar.
Before Christmas Celtic could claim the fake title of being The World’s Most Successful Club.
While the wages of Kemar Roofe, John Lundstram, Borna Barisic and Ryan Jack won’t appear in the 24/25 accounts ‘operational losses’ continue in the shape of the massive monthly salaries extracted by James Tavernier, Jack Butland, Tom Lawrence, Cyriel Dessers, Ridvan Yilmaz, Rabbi Matondo and Ben Davies.
Only Lawrence is out of contract at the end of this season, Halstead approved the appointment of Phil Clement followed by the improved contract for the Belgian Beale which runs until May 2028.
The company Accounts published on Tuesday revealed that Halstead has already provided a £10m interest paying loan that is due for repayment on 30 June 2025, Caretaker Chairman John Gilligan recently promised Phil Clement a January war-chest.
Who will be in the home dug out when Celtic visit Ibrox on January 2
Big Phil- he is A Proper Football Manager
Wee Barry- He knows what it is all about
Wee Alex- Biding his time, already in the dug out
MURTY! The only man that knows the job
Bomber- time to restore some traditions and passion
Sir Alex- Bring him home
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It’s difficult to comprehend how anyone who intends to or already has put money into the financial black hole located between Broomloan Road and Copland Road could be termed an ‘investor’, unless of course their investment comes with very strict and non-negotiable advantageous payback terms….. investing in a loss-making business is generally a fools errand. Even by Sevco standards the next year could get ‘interesting’.
Off the top of my head,
RIFC is scheduled to repay that new, £10M loan at the end of this season,
[which could, possibly, be re-scheduled to be fair.]
But are there not one or two players that sevco brought in last summer
who have to be paid for – in full – next summer?
Looks like everything is coming to a head down Govan way.
Just need an Aberdeen win tonight to really get the party going! 🙂
The ‘ investment ‘ from Halstead ! Doesn’t the rag tabloid Record mean a loan which will have to be paid back sooner rather than later ..with interest ? Those nice daily Record sport scoops ,once again throw water onto the out of control financial figures , just in time for some quiet ,soothing reading on the long journey up to Aberdeen for tonight’s game ….
You can’t beat a good old bit of FAKE NEWS stories.
Next BILLIONAIRE we will hear about ready to invest will be The Donald himself.
Since when has investors, started to invest into such a shite product, with very little chance of getting any form of return, upon the amount of investment required?
The scum are only out of administration, from loans received, but meant to be paid back?
This without outstanding fees for players that have to be paid for?
And not to mention the fiasco of an extra 600 seats at the shithole?
And all the while the costs still exist upon shite on contracts, throughout the playing and management of the scum
So even if last season figures were bad, then the current ones don’t look like being any better either?
So any potential investors, would have to clear millions of debt yet again?
Along with ploughing money in, just to keep the lights on at the shithole?
This before actually looking at the cost needed to plough into yet another rebuild?
And all the while, we continue to make millions upon our current set up?
Even if 100M was pumped into that shithole, the scum still wouldn’t be that close to ourselves financially?
Is there really that dopey enough investors around?
Don’t think so myself?