The illusion of effortlessness.
How do you prefer to spend your spare time, when not watching or talking fitba?
Apart from listening to music and following live bands, I like to check out the origins of figures of speech/common usage and how they have developed over time.
Aye, riveting stuff.
Often a search via ‘google’ or ‘bing’ will lead directly to Shakespeare or Chaucer….Gabrielle Zevin…
‘Coin a phrase’ is an interesting one from the Elizabethan period and it’s amazing where a wee hunt through the internet will lead…
Cambridge Dictionary ‘to coin a phrase’ definition: something you say before using an expression that has been very popular or used too much:
Something that caught my attention on 31st October last year (2017)
“Emphasis of matter”
No need to ‘google’ that, as an explanation followed indicating that something was niggling the Auditors down Ibrox way.
12 months later, October 2018, the language changes. A shift in emphasis if you like…
“material uncertainty relating to going concern”
A quick ‘google’ will lead you to ACCA website.
Good luck with that…. and respect to the guys and gals who have the ability to follow the ACCA Career Path.
What is clear though,is the absolute requirement for qualified professionals to report in a consistent way, utilising language that interested parties can understand.
To help them draw conclusions and suchlike…
Therefore, it defies belief that the custodians of our national game are employing folk who appear unable, to spot a developing crises.
If we can deduce that one of their member clubs have
cumulative losses of £39m in the six years, since the new company was formed. With concomitant risks…
Then they should know too.
Also, they should know those accounts did not include:
The significant increased costs of hiring an ex-Liverpool Legned (sic) and his 6 backroom staff, not counting sundry medical staff.
Hiring an additional 15 players.
Extraordinary and significant Legal costs paid, and to be paid, with any associated litigation, around the ongoing merchandising fiasco.
The likelihood of additional losses in the current year is ‘clear and present’.
Now, it would seem The only way to avoid further losses is to increase revenues.
They can increase, but only from two channels:
- a significant run in the Europa Cup, where anything bar winning it ( with auto qualification to CL), will still not cover the ‘declared/known’ shortfall in reported accounts.
- Sale of players. Even a casual observer is aware that only 2 or 3 players are worth anything like seven figures.
1 cannot happen if 2 happens, therefore, it’s likely that both factors will serve to cancel each other out. Net zero, at best.
As for retail revenue, anything they can ‘coin in’ now will be paid out in costs and reparations via courts. Net zero, at best.
Their budget airline trip back from Austria this week, will provide a clearer indication.
By then the general direction of travel should be blindingly obvious.
Any sensible organisation would be making Adjustments to Forecasts…(gaming out the likely outcomes, if match income from Europe and player transactions does not meet expectations) but it appears that everything they are doing points to a lack of rudimentary contingency planning.
Any reasonable person would be forgiven for reaching the conclusion that cumulative losses could top £45m by June/October 2019. Or, during the 9 in a row season, if you prefer…
That ongoing trend indicates cumulative losses of +£50m, 12 months later. Or, during the 10 in a row season, if you prefer…
Yes. Everyone knows they are converting soft loans to stock, but they are still losing real cash. Year upon year, ad infinitum.
The SFA/SPL are watching this existing problem, grow and grow. The financial doping continues, with unfettered spending and wild west style rule-breaking. yippeee!
A team from Ibrox Enjoying a significant competitive advantage…
Then the other night, I received a text pointing to Roger Mitchell ‘self-confessed’ ( don’t need to google that …) Celtic Fan and exSPL ‘chief’, telling us all we should just ‘move on’ from dissecting Rangers’ historical issues…Or words to that effect. Awe Naw had put it on the blog too.
Tell you whit Roger, we will stop carping on about all this stuff, when folk in positions of authority in this country start doing their bloody job!!
All of the above is happening right now…Sevco…ongoing current (sic) extant!
“The illusion of effortlessness…” to coin a phrase.
Guest article by Saltires en Sevilla.
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