Mike Ashley seems to think only of money – morning, noon and night – and would you believe that when he loaned out five of Newcastle’s fringe players to Rangers FC at the end of January, he negotiated a £500K bonus from Rangers to Newcastle if they get promoted.
Paul Murray – interim Rangers Chairman
Yesterday Rangers posted half-year financial results through the end of December, and they had losses of £2.6M for the period, and that is a drop of 3.5M from a year ago.
Revenues were £13.1M.
This is a statement that Interim Chairman Paul Murray has released today:
“These results are historical and relate to a period before the new board took office,”
“The new board’s focus is on the future. We are in the process of developing a business and funding plan which will help us rebuild the club and ensure it enjoys football and commercial success in the future.”
“We will work closely with our shareholders, supporters and other stakeholders to achieve our vision of building a modern football club founded on our traditional values and standards.”
“The recovery process will take time, but if we work closely together we are confident of success.”
The financial figures released by Rangers FC show they have a liability of £500K, which will be paid to Newcastle United FC if they are promoted through the play-offs.
We loaned out Gael Bigirimana, Haris Vuckic, Kevin Mbabu, Remie Streete and Shane Ferguson to Rangers, but Haris Vuckic is the only one playing for Rangers and he’s scored five goals so far this year and played well.
But only Remie Streete has also played for Rangers this year, and that was for less than one half before he picked up a groin injury.
But it’s a very poor deal for Rangers FC, and looks even worse when four of the five Newcastle players have been injured since they were loaned out.
But of course the deal was agreed with a certain Derek Llambias, who is the former Newcastle Managing Director and a close confidante of Ashley’s – and Derek was essentially running Rangers at the time, until the Dave King takeover.
Rangers fans were upset when it was revealed they are paying £5K a week for the Newcastle players, and they will not be happy about this news.
And that is a huge understatement.
Note: Mark Hammell is an avid reader of the blog and he has signed up for 7 endurance events totaling over 600 miles, after he has just recovered from a serious ACL injury.
Mark is doing this to raise money for the Sir Bobby Robson Foundation. Here is Mark’s Justgiving page – see if you can help him out and help Bobby’s Foundation.
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