You’ll remember in October last year I told you I was in receipt of a Heads of Terms for the sale and leaseback of Ibrox, Murray Park and the Albion Car Park. The internet has been full of chatter around this subject for the last week but I didn’t have an update on the subject until last night.
At the time I said the deal would not be signed until after the share issue, which took place in December. Charlie is back in town, and I hear the Sale and Leaseback-ball is in play.
According to the Heads’ the buyer will pay £7.285m for all three properties and, in addition, will provide a loan to the tenant of £6.9m at an interest rate of 15% p.a.
Rent will be reviewed every five years, on an upwards only basis, either at RPI or 2% p.a., whichever is greater. RPI is currently 3.3%
Say Goodbye to Murray Park
The tenant “will take a lease for the stadium and the car park on a 20 year lease at an initial rent of £1.8, per annum”. Murray Park is offski, gone, no longer available to Rangers International, or any of its successor clubs.
Interest on the loan works out at £985.5k per annum, so rent plus interest would be £2.835m p.a.
Top line figure for both sale and loan is £13.835m, however, the first three years rent (£5.4m) will be held back as no one is prepared to guarantee the rent, so actual cash into the business will be £8.435m.
Murray Park planning permission
If the new owner of the properties attains planning permission for residential properties at Murray Park within three years of the deal being signed, a provision releases the seller from having to repay the outstanding portion of the loan. If planning permission is achieved after three years, no element of the loan is forgiven.
Potatoes
The buyer can do whatever they like with Murray Park. Can you suggest a suitable use? Perhaps they’ll plant potatoes.
Securitisation
“Rents will be guaranteed from ticket receipts and a first charge on the season tickets income will be granted.”
The tenant has the option to buy-back the stadium (only). If the stadium is bought-back in year one the cost will be £10m. Thereafter the purchase price will increase by 12% p.a. until year 10. After year 10 the right to buy-back the stadium will be at “Market Value but no less than £20m”.
Should they buy-back the stadium, the lease will remain in place for Albion Car Park at a rate of £250k p.a. (subject to same rent review arrangements).
So what does this mean? The cash will be welcome and will enable to club to survive until into next season. If they spend the money on lottery tickets, there’s a chance they will get lucky and survive well into the season after next.
Suggestions that some people are preparing to squeeze the last penny out of a busted brand are contemptuous.
The next issue of CQN Magazine is being prepared. Let me know if you would like to advertise, or if you would like to submit an article, celticquicknews@gmail.com.
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Sydney Tim,
using the weeman’s situation to continue to beat on PL is really poor form – to put it mildly.
Please let this go. The blog and its bloggers are in a different place right now.
jude2005 is neil lennon \o/
12:15 on 16 August, 2013
Fred C Dobbs 00.13
Mc Dowell Celt told CQN about Wee Oscar at 23.44pm b t sent that abuse to me at 23.53pm nearly 10 mins later so he was fully aware of the terrible news abt Oscar.
Maybe the screen was blurred?
~~~~~~~~~~~~~~~~~~~~
Oh,pur-lease….
That kind of acid crack is exactly what brought on last night’s exchange.
A bit less point-scoring,and a tad more understanding,go a long way towards a handshake in the morning.
Today is not the day for it.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
Morrrrrrrrrrrrrrrrrrrrrrrnig Auld yin :)))
prayers and positive thoughts to the knox family,vinibhoy great show about dr burzynski,cmon wee Oscar
To those of you defending that pissed up clown, go and read CRC’s post about the wee man’s situation. The family don’t need money right now, they need love, support and understanding and not to see their precious bhoy used as a means to berate our CEO on here.
You do remember that Stephen Knox reads/posts on here…?!
T4
A perfect example of why today is not a day for point-scoring is provided below.
It is from a poster with whom I regularly disagree-though I tend not to bite anymore,haha!-so all the more kudos for it.
~~~~~~~~~~~~~~~~~~~~
kevjungle – “c’mon the cellic !!!”
06:19 on 16 August, 2013
Just in to say….
TerryONeill Neil ah love yae
_______________________
Great to read yer stuff last night fella.
I hope yer well Amigo.
You’ll always be afforded HERO status
in – Kev’s Jungle :)
It was grand to meet ye at the kosc in Blantyre(that place is dear to me).
Take Care n God Bless
There will be no ‘bored’ bashing today as a mark of respect for the Oscar Knox family.
God Bless n Best Wishes n Heartfelt Sympathy for the family.
Off oot.
~~~~~~~~~~~~~~~~~~~~
Well said,KEVJ.
SydneyTim
Have you even read this?
Copied from Wee Oscars blog:
Thursday, 15 August 2013
Devastating news…
Can’t believe I’m sitting down to write this piece – I haven’t even recorded all the good news and happy times we’ve had over this past few months….
We’ve had some terrible news – Oscar’s cancer has returned, the disease is extensive, and it’s spreading rapidly. We found out 6 days ago that he had relapsed after suddenly developing symptoms during our last few days in Scotland. We saw the full extent of it in the scans he had today.
It’s not good, we are totally heartbroken and very frightened about what lies ahead. Our little man is in excruciating pain, not eating or drinking, and finding it very difficult to walk. The priority right now is to relieve his pain with regular and increasing morphine, and to decide on and begin a treatment plan ASAP. We have some very difficult choices to make, but more importantly Oscar has ANOTHER incredibly tough battle on his hands. Please please send every positive thought you have our way, and support our brave wee Oscar as he fights for his life once more.
Stephen and I are shocked, scared, and overwhelmed by this news. We thank everyone for their incredible ongoing support, but need space and time to deal with everything. I’m sure this goes without saying, but we ask for no media requests.
Thanks guys, lets get #TeamOscar back on the rollercoaster, and tackle this beast as the main man has previously shown us how. We love you so much Oscar x
Money is available for treatment but reading this I fear the family’s courage will be tested to the full in the next days.
stadium for sale or rent seats to let 50 cents no phone no pool no pets the huns are going to the vets two hours of pushin a broon. gets oor chuckie boy a padded room he’s a man of no means ,king of the toads third boxcar, midnight train, destination doon the drain old worn out brogues for shoes, they don’t pay any dues smoking old doubts they’ll come up short, the big hoose is gonna shut he is a man of no mean king of the toads
I just wish it would space out properly it is until I post it whys that? anyone?
Keep fighting Oscar.
PMJS
T4
Don’t allow your disappointment in someone else’s judgement to cloud your own.
I reckon SYDNEYTIM is trying to make a good point,albeit in a clumsy way.
I don’t think his main thrust is an attack on PL-his heart is in the right place.
Like us all,he just wants a safe and healthy Oscar.
It is not anyone’s place to tell anyone else how to spend their richly-earned emolument.
Today my son celebrates his 1st birthday – we count our blessings that he is the picture of health. Our thoughts and prayers go out to Oscar and his family for not being so fortunate and whose fight makes all our little trials and tribulations pale into insignificance.
Go on the wee man, may you whoop cancer once and for all and enjoy a life full of love, happiness and good health in the future. Hail, Hail from Spain.
Johny t. Indeed A large donation would help
Might not solve it but would help
A daryl murphy transfer fee would go a long way to get the best medical minds in the world to help
We. And me say why not pay 5m for finbogason
Money is indeed silly in football these days when we sit back and look at other priorities
We are Indeed fortunate due to some fine financial planning over the last few years. Some of us( like me ) hoped that could be splashed out to bring special players to our club. But now maybe we could do something more special with that money
new article posted.
Of all the places on the Web, I thought ALL CQN’s would know about Oscars fight, the fans collections, selling wristbands, race nights, cycles to Belfast, cycles to all the EPL grounds, quiz nights…..
I agree BMCUW SydneyTim is framing it the way he feels. In his own way he is telling Oscar and his family that he cares. We all do. Football is a far second here. ST we know what you mean mate.
CHARLIEBHOY
What are you using to post it?
Normally,I use the “return” or equivalent button when I want to start a new line.
You may be scrolling it down.
Good to hear from the second in a line of four,IIRC.
How are the younger ones?
jude2005 is neil lennon \o/,
I’m not defending the language used, nor should I. Just don’t think BT had seen Wee Oscars sad news when he posted. He was posting quite a bit at the time…when your writing yer no reading. Anyway that’s me finished with the subject.
Devestated about the news of Wee Oscar
Thoughts, prayers & hopes of my entire family circle are with you wee mhan – stay strong and keep fighting we are all behind you
God Bless
BMCUW – thanks for the comment mate, but my judgement is just fine.
I’m not disappointed, to be quite frank I’m actually disgusted. Although, it pales into insignificance when compared to the vile comments Stephen has dealt with on Twitter today!
I’ve said more than enough on here and I’ll leave it to the discretion of our host.
HH
TTTT
sorry guys I just reposted that from page thirteen with a hope that someone could put it into shape …..now jumping forward I see the news about wee Oscar……sorry again for my inappropriate timing……prayers said for the wee mhan
celticrollercoaster
Afternoon bud it’s the CQN predictor (idiot division) here.
My daughter just filled in my sheet and sent it to you also promised to send predictions monthly for me .
So you wont have extra work from me :))
Two new strikers possible??
http://sport.stv.tv/football/clubs/celtic/236284-celtic-to-make-fresh-bid-for-schalke-04s-finnish-striker-teemu-pukki/
SydneyTim
I have enough trust in the folk on Celtic’s charity wing to respond appropriately without pressure.
Crc.
Where’s mine, mailed you earlier and i’m a cert to win. HH
Napsters,
please post your Week 2 naps on here…
Cheers, fleagle1888
CQN Saturday Naps Competition : Week 1 results & standings
16 roads sets the early running (Glenard @11/1).
What is the Stars (David Livingston @15/2) and Che (Breden @11/4) are tracking the leader, with the rest of the napsters off the pace.
+£11.00 16 roads (1)
+£7.50 What is the Stars (1)
+£2.75 Che (1)
-£ 1.00 Bada Bing
-£ 1.00 BMCUWP
-£ 1.00 bonbhoy
-£ 1.00 BULL67
-£ 1.00 Burgas Hoops
-£ 1.00 El Madrigal
-£ 1.00 fleagle1888
-£ 1.00 gordybhoy64
-£ 1.00 green T
-£ 1.00 Kilbowie Kelt
-£ 1.00 leftclicktic
-£ 1.00 Magnificentseven
-£ 1.00 MHARK67
-£ 1.00 petec
-£ 1.00 PF Ayr
-£ 1.00 tommytwiststommyturns
-£ 1.00 unionbearBhind
-£ 1.00 valentinesday
-£ 1.00 voguepunter
Cheers, fleagle1888
Morning bhoys
Since I seem to have cleared my feet time wise, I’ll try and get my nap posted again on a Saturday. I’m choosing in the Great St Wilfred today at Ripon @ 3 30pm.
Pearl Ice ( currently 8/1) is my selection.
For anyone interested in stats, see below, but you may be better just sticking a pin in the paper like my wee maw used to do, back in the day when her favourite jockey trainer combo was Eddie Hide riding for Bill Elsey :-). Anyhow, stats are there to be broken so no doubt the first horse dismissed will storm home at 66/1 :-)
————————————————————————————————————————-
* The Great St Wilfrid is a Class 2 handicap over 6f
* Ripon has had 21 renewals of this race
* There are 52 similar races in August
* I want to start with the Draw
* Since 2011 Ripon have had 22 handicaps
* Thats 22 handicaps over 6f with 12 + runners
* Horses drawn 1 or 2 had a 0 wins from 42 record
* No horses drawn 18 or higher won either
* To be fair only a very few tried to win from stall 18+
* All 22 winners were drawn between 3 and 17
* SPINATRIX has a poor draw in Stall 1
* BORDERLESCOTT has a poor draw in Stall 1
*I looked at 52 similar handicaps in August
* I looked at horses from 5f races
* These horses struggled without a run within 2 weeks
* The only horses overcoming this were lightly raced 3yo’s
* I looked at horses aged 4 or more from 5f races
* Those without a run within 2 weeks were 0 wins from 97
* BORDERLESCOTT just fails that
* As he is 11 with just 2 runs this year he is rejected
* CONFESSIONAL is out from 5f but 50 days ago
* Horses beaten 10 + lengths last time have struggled
* Only last years winner overcame this in 21 past renewals
* THUNDERBALL – POLSKI MAX – BLAINE fail this
* I can’t make any case for those three horses
* POLSKI MAX and BLAINE are 3yo Males
* 3yo Males have a 0 wins from 32 record in this race
* REGAL PARADE is unsafe as a 9yo
* Exposed 5 year olds with 21 + runs struggled
* They have a 3-195 record in these races
* DR RED EYE fails this and has never won at 6f before
* EL VIENTO is also an exposed 5 year old
* He has never won off his current rating before
* He’s running well and many will fancy him
* SPINATRIX is an exposed 5yo as well
* She is a Mare Drawn 1 which is a worry
* SPINATRIX is up in class to a grade she hasn’t won in
* She has to do this from a career high mark of 100
* LOUIS THE PIOUS is an exposed 5yo
* We know similar horses have a 3-195 record
* He’s never won a Class 2 handicap before in 16 tries
* He’s never won from this handicap mark either
* Running well he could win but his profiles weak
* ZACYNTHUS has a career high mark
* As he has never raced over this distance he is out
* The highest rated winner of this race was 101
* Recent winners had the following ratings
* 99 87 95 94 100 92 98 99 80 98 96 83 85 75 101 83 95
* HOOF IT has his work cut out rated 109
* Especially when only having 2 runs this season
* CAPTAIN RAMIUS has to defy a rating of 107
* Thats as a 7yo with a 121 day absence so he is out
* BACCARAT is a 4 year old with just 7 runs
* There were 18 winners aged 4 in the 52 races
* 17 of the 18 winners had 13 or more career starts
* BACCARAT only has 7 career starts
* Horses aged 4 with under 13 career starts were just 1-73
* That horse (Hidden Dragon) won this race in 2003
* He had 11 runs though 4 more than BACCARAT
* BACCARAT is very lightly raced for a 4yo
* He only has 3 runs this year less than many here
* He’s progressive and has been gambled
* He looks like the return to sprinting is what he wants
* He’s had good excuses for defeats so lots to like
* Its simply that no 4yo has won anywhere like him
* Considering he is also short at 5/1 he is rejected
* SUMMERINTHECITY is an exposed 6yo
* Coming from 6f he last ran over 2 weeks ago
* Similar horses had a 0-62 record
* Closest was Markab the 2009 winner of this
* He had that profile with 14 days absence
* SUMMERINTHECITY has 21 days off a bit more than ideal
* I could overlook that extra 7 days
* He has been raised in the weights for losing though
* That seems unfair and it hurts his chance
* RODRIGO DE TORRES is an exposed 6yo
* Coming from 6f he last ran over 2 weeks ago
* Similar horses had a 0-62 record
* Closest was Markab the 2009 winner of this
* He had that profile with 14 days absence
* RODRIGO DE TORRES has 7 extra days to defy
* He’s more positive than negative
* He has no Ripon form though and I prefer others
Shortlist
* DICK BOS is 4 and has 11 career starts
* The 2011 winner had the same profile
* That makes him a positive but I’d prefer more runs
* PRODIGALITY is 5 and has 19 career starts
* I looked at all 5 year olds with 16-21 career runs
* I Found a 2-25 record with this profile
* Both horses achieved more than he did last time
* I can excuse that as he had an impossible draw
* Drawn 1 at Goodwood when stalls 26 25 28 dominated
* Unlikely stable to win but he has a chance
* PEARL ICE is 5 and has 13 career starts
* I looked at 5 year old males with 11-12-13-14-15 runs
* I found an encouraging 3-19 record
* Take out those from 5f races
* Take out the fillies in this record
* Take out the ones that were well beaten last time
* This improves that record to 3-10
* All 3 winners had 3-4 runs this season like him
* PEARL ICE has a very solid profile
* He has a 2 W record at this track
* I used to think the race he just won was a bad trial race
* The 2011 winner did win from that race
* SECRET WITNESS is a 7 year old
* There were 5 winners aged 7 or more
* They all ran within 2 weeks like him
* They all came from 6f and were well raced that year
* SECRET WITNESS’s profile isn’t too bad
* The dilemma is should we ignore Stall 20 here
* In the 2011 renewals 1st 3 home were drawn 17 20 19
So it’s Pearl Ice for me with various forecasts and tricasts on the short listed runners.
Good luck napsters.
Mon the ponies.
Greetings.
16:05 @ Ripon – No Poppy – NAP!
Good luck everybody.
TnT
you couldve been a bit more in depth…..
Annina 4.05 Ripon for me,
from what I can gather Mr Candy thinks a lot of his one.
I’ll have a go at this naps thingy
2.40 @ Newbury : Aiken @ 4/1
Good luck.
Model Pupil 14-40 Newbury
Perth 550 Scotch Warrior.
Good luck everyone.
Secret Talent 3:50 Newbury.
I’m also going with
No Poppy 16:05 Ripon
solaras exhibition 5.15 perth
Light from mars 2 20 newmarket
Secret Talent 3.50 Newbury