Back in the days, when some of us were predicting financial meltdown across the city, we were mocked by commentators in the old media for focussing too much on Rangers. How the world has flipped. At Newco’s EGM yesterday, chairman Andrew Cavenagh’s focus was somewhere else in the city – Celtic.
“Our rivalry with Celtic, Rangers wouldn’t quite be the same without that rivalry.” Can you imagine a Celtic chairman saying the same to supporters? Compare and contrast to Peter Lawwell’s comments as Rangers slipped into administration in 2012:
“We look after ourselves.” “We don’t rely on any other club.” “”We have a stand-alone strategy, a stand-alone financial plan.”
The new sheriff in charge across the city explained to his shareholders he believes they need Celtic. We are the reason he bought into Newco, we bring the glamour, we bring international relevance, we are champions worthy or rivalling. Newco are a division, within a division, on the coattails of a dominant champion. And £20n? It wiill keep the lights on for a year, maybe a little longer. They will need to sell in order to buy in any significant way without a lot more cash coming in. You know this, everyone knows this, why the pretence that £20m is a lot of money?
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TinyTim on 25th June 2025 10:04 am
It just means that £20m of the football income is not used for running costs.
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Respectfully TT, you are suggesting that R2ngers running costs are not met by the business but by periodic injections of cash from shareholders.
Or, to put it another way, just exactly what they’ve been doing since 2012.
Now, to be clear, I don’t think that is their intention at all .. but I wish it was.
new article posted.