As we predicted earlier this week, talk of a 'cash crisis' or imminent threat of administration at Ibrox proved to be a load of empty howling from a dejected Wifi company. The courts threw out their bid to have £300k of the club's money ring-fenced, and shot down their claims that the club was in financial trouble.
As you may have seen from the timelines of either Grant Russell, or perhaps even James Doleman (hundreds of Celtic fans paying their own money for court reporting they could get for free on STV, only to be told that Rangers were in rude financial health? Lovely stuff) we also saw just how much better things are off the park these days.
802 Works Limited failed to satisfy the sheriff that there is a risk of Rangers being on verge of insolvency.— Grant Russell (@STVGrant) January 15, 2016
Rangers provided profit/loss statement for Dec 31, 2015 that showed half-year losses significantly down to just below £500,000.— Grant Russell (@STVGrant) January 15, 2016
Rangers' sub-£500k loss for 6 months ending Dec 31, 2015 is unaudited but court content with statement. Loss at same point in 2014 was £2.6m— Grant Russell (@STVGrant) January 15, 2016
From £2.6m to under £500k in the space of a year is simply incredible work. How's the 'genuine billionaire' patter looking now?