| A | B | C | D | E | F | G | H | |
|---|---|---|---|---|---|---|---|---|
1 | The role of Debt (and EBT's) in winning trophies | |||||||
2 | Rangers | Celtic | ||||||
3 | Year | Manager | Manager | Debt £Ms | Debt £Ms | EBT Cont | Title winner | Note |
4 | 2001 | Advocatt/McL | O Neil | £22.0 | £29.6 | £1,010,000 | Celtic | 1 |
5 | 2002 | McLeish | O Neil | £52.0 | £16.5 | £5,176,000 | Celtic | |
6 | 2003 | Mcleish | O Neil | £68.0 | £17.8 | £6,791,000 | Rangers | |
7 | 2004 | McLeish | O Neil | £73.9 | £15.8 | £7,252,000 | Celtic | |
8 | 2005 | Mcleish | O Neil | £23.1 | £19.5 | £7,241,000 | Rangers | 2 |
9 | 2006 | Le Guen | Strachan | £5.9 | £9.0 | £9,192,000 | Celtic | 3 |
10 | 2007 | PLG/Smith | Strachan | £16.5 | £5.0 | £4,998,000 | Celtic | |
11 | 2008 | Smith | Strachan | £21.6 | £3.5 | £2,291,000 | Celtic | |
12 | 2009 | Smith | GS/Mowbray | £31.1 | £1.5 | £2,360,000 | Rangers | |
13 | 2010 | Smith | TM/Lennon | £27.1 | £5.9 | £1,358,000 | Rangers | |
14 | 2011 | Smith | Lennon | £18.0 | £0.5 | nk | Rangers | |
15 | £359.2 | £124.5 | £47,669,000 | |||||
16 | ||||||||
17 | ||||||||
18 | Note 1. | Gross proceeds of £22.52M raised from the issue in July 2001 of Convertible Preferred Ordinairy Shares | ||||||
19 | ||||||||
20 | Note2 | The success of our Rights Issue in December 2004 was assured by the underwriting of the issue by Murray MHL Ltd. It was though greatly | ||||||
21 | encouraging that the issue was backed by so many shareholders. Over 4500 individuals subscribed to the issue, which raised a total of £51.4m | |||||||
22 | before expenses. | |||||||
23 | The receipt of these funds, together with the restructuring of our bank debt has given the Club a strong financial structure to build upon. | |||||||
24 | Our total net debt at the year-end was £23.1m (2004 - £73.9m) and it is our intention to continue to drive the level of debt down while at the | |||||||
25 | same time ensuring that sufficient funds are made available to put a strong playing squad on the park. | |||||||
26 | (Pressure to reduce debt comes as result of Halifax and BoS merge in 2001. Halifax amazed at debt when books examined) | |||||||
27 | ||||||||
28 | Note 3 | The successful £15m share issue in December 2005 rebuilt the balance sheet, reducing bank debt from £19.3m to £9.1m | ||||||