The Rangers financial results always create a stir whenever they are announced.
Various Celtic sites highlighted the discrepancy between the reported £5.9m ‘profit’ compare to what the balance sheet said:
But there are people much more qualified than people like me that can decipher accountant speak and Phil MacGhilla Bhain got his good friend the Rugger Guy to do it for him.
What was interesting is his take on the long term future of the clubs finances and like many Celtic blogs have already pointed out, it looks bleak on their current model.
In his latest blog, Phil’s source notes:
Could you imagine that? Another £100m in soft loans turned into confetti? Surely the club couldn’t sustain that.
But with FFP now on their doorstep, that may not be an option open to them.
We watch with interest.
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