I was pleasantly surprised to hear that we had paid off Les Hutchison and John Boyle in full. As of the last set of accounts to May 2018 we owed them a collective total of £994,000. Now since then we sold Cedric to Wigan for £750K (paying off £300,000) and we've since had minor fees for Stuart McKinstry and Reece MacAlear totalling say £300,000 paying £120,000. Even allowing for Les's double your money offer I still thought we'd be owing some £300,000 or thereabouts. Its great though that the monies have been repaid within the agreed 3 year period (where monies came from 40% of transfers fees) without having to agree loan repayment terms. So, we're now debt free apart from £80K to 5 supporters.
Sportsound yesterday included some very odd interviews. As I understand it, Alan Burrows said that this was great news and would allow the club to move forward. More still needed to be done as it was only the end of the beginning. So far so good. Richard Gordon then announced that Les would be coming onto the show later with a different, not so rosy, view. As far as I understand that, he said that he had saved us from administration, by some 2 weeks (which most of us knew already) and that fans would still need to contribute financially to keep the financial model viable, which is exactly what Jim McMahon said 2 or 3 years ago. In other words the end of the beginning. So, ignoring Richard Gordon's confused summary, Les and Alan Burrows said pretty much the same thing.
A very factual account of Rangers' £11.3 m loss was then given by Jonathan Sutherland but that wasn't deemed to be bad news.
The bottom line is that, apart from £80K we are now debt free and that from now on the club retains transfer fees in full.