Quantcast

Amido, Dave King-gap too big to bridge

824

A meaningless win is always better than a meaningless defeat, but in the larger scheme of things, yesterday’s game against Liverpool is no more significant than last month’s games in Germany.  They are about building fitness and, if necessary, trying new things.

Amido Balde was the winner yesterday.  Some were already writing the player off, not because of any performance inadequacy, but because he was not being deployed competitively.  Victor Wanyama joined two years ago but spent the first six months of this stay warming the bench with Brown, Ledley and Kayal ahead of him.

Five months ago Rangers International FC PLC released their interim accounts, noting that their recurring operating expenses of £2.371m, were £1m per month more than their income.

£1m per month!!  To a club which has no bank borrowing facility!  Yet the alarm bells didn’t ring everywhere.  Roll on five months, 34,000 fans have been separated from their cash in return for season tickets, and now the alarms are ringing all over the place, not just the Celtic online media.

This is not news to anyone reading Celtic Quick News but in life, it’s often not so much the message as the messenger that’s significant.  That the mainstream media feel it’s appropriate to ‘tell it as it is’ about Rangers International’s finances, is a measure of how acute the situation is.

As we’ve been saying here for years, it takes close to £20m p.a., before you employ a footballer or coach, to run a football club which can accommodate circa 40,000 spectators on a regular basis.  Add your football budget onto that £20m and you have an idea of the cash needed to be a ‘top’ Scottish club.

Rangers International’s interim revenue for seven months was £9.5m which annualised up would be £16.3m.  There is a huge structural gap which no one has been able to even remotely suggest a way to bridge.

Now Dave King has told the Herald what we’ve been saying for a while, “Celtic are building reserves by selling top players that they won’t need until Rangers are back (sic) competing with them. The way our finances are being run we could end up with a gap that is too large to bridge.”

It takes hundreds of employees to run a football club at a busy Ibrox Stadium.  There are policing, rates, utility, insurance and stewarding costs, which you can’t do anything about.  Even if they double income, they’re still going to be left with a fraction of Celtic’s football budget.

As Dave King suggests, this is not a short and medium term problem, the gap is already too large to bridge.  King is wrong on one factor, Celtic will not store reserves awaiting a challenge from Rangers International (or a successor club), they are managing player assets as part of an on-going Champions League development strategy.

The other lot are finished, I tells ya’, finished! This is Private Fraser doing his Dave King impersonation:

Click Here for Comments >
Share.

About Author

824 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. ...
  10. 22

  1. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    No chance of the Lucky 1888

     

     

    Yet some poor sod had to suffer post 1689B

     

     

    Shameful timing,old bean!

  2. They most definitely are finished.

     

     

    If the salt’n’sauce derby is anything to go by, outside Celtic – Scottish football is finished.

     

     

    #hh

     

     

    bjmac

  3. Take our current squad…

     

    Add in yesterday’s squad…

     

    Plus our two new Dutch recruits who cost £6m plus….

     

    Now ….

     

    Give me finnbogson and I reckon we are ready to rock n roll this season

  4. GlassTwoThirdsFull on

    Absolutely Paul. Building up a “piggy bank” for future CL campaigns and/or move to a new environment.

     

    Old Rangers spent way beyond their means and just about kept pace with us. On a level playing field they would be nowhere. But the MSM either don’t get or won’t admit this.

  5. As for servco?

     

    Forget aboot them!!

     

    They mean NOTHING to us…

     

    A mere no-mark unless we draw them in a cup competition .

  6. So………we have a second string that can deal with a Liverpool first string.

     

     

    CH position looks secure for years with what we have and what’s coming through.

     

     

    We are actively pursuing a proven goal scorer.

     

     

    I think we have a real handle on this buy, develop, sell, replace and progress business model.

     

     

    All we need is a standing area for the GB and its happy days for everyone.

     

     

    It’s a wonderful time to be a Tim……

  7. Afternoon Timland from a very hot hun free mountain valley.

     

     

    Paul

     

     

    You say….

     

     

    King is wrong on one factor, Celtic will not store reserves awaiting a challenge from Rangers International (or a successor club), they are managing player assets as part of an on-going Champions League development strategy.

     

     

    Can we expect 1-2-3 or more in the door ?

     

     

    Every penny will be reinvested in the team……..I would like to think so….or did he really say that ?

  8. The Battered Bunnet on

    Paul

     

     

    Don’t disagree with your view, or Private Fraser’s, but if we get past Karagandy we’ll be sitting on the best part of £50M cash by the end of the season.

     

     

    The problem we’ll have is what on earth to do with it all.

     

     

    Any suggestions?

  9. Re Alfred Finnbogason if as reported there are Serie A clubs sniffing about what do we estimate our chances of singing him are 1 in 5 zillion! Still a chance though.

  10. The exciled tim…

     

    Reinvesting in the team doesn’t just mean buying players..

     

    Is buying promising youth…

     

    Investing in coaching…

     

    Developing lennoxtown…

     

    Wages …

     

    Everything

  11. The Battered Bunnet

     

     

     

    14:37 on 11 August, 2013

     

     

     

    Paul

     

     

    Don’t disagree with your view, or Private Fraser’s, but if we get past Karagandy we’ll be sitting on the best part of £50M cash by the end of the season.

     

     

    The problem we’ll have is what on earth to do with it all.

     

     

    Any suggestions?

     

    ===

     

    Increase DD’s fortune.

  12. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    THE BATTERED BUNNET

     

     

    Frankly,if we don’t spend it one way or another,it will be subject to tax.

     

     

    Infrastructure or players,or a fat cheque to HMRC.

  13. Delighted for Amido yesterday, Gordon64 I will count that as 1 goal aready in his search :))

     

     

    Mean while back to more serious business

     

    from twitter

     

     

    @RFC_Official why doesn’t the r*n*ers megastore have any “letter I” left for shirt printing? What a joke!

     

     

    Ps anyone still think that before The The The whatever they will be called will be paying £5million rent money to Chuck,maybe even Craig or some spiv for the lease of the hate factory Auchinhowie(snigger) and the car park even when the new men DK & co eventually get a say in the dead carcass.

     

     

    Show us the deeds!!!!!!!!!!!!!!!!!!!!!!!! which spiv in their right mind would walk away from £100million over 20 years

  14. pabloh_AKA_NEIL LENNON on

    The other lot are finished, I tells ya’, finished!

     

     

    Try telling ra peeepil that Paul67. The words ‘Naw’ and ‘obsessed’ will feature heavily.

  15. Referee at Wembley brings vidic and holt over for a chat… due to a bit of aggro between them. As he tries to lecture them they continue to mouth off to each other. . Ignoring the ref.

     

     

    Wullie collum wouldn’t have took that :).

  16. The Spirit of Arthur Lee on

    Just heard Yang Guang has has dumped Tian Tian. Typical Panda, eats, shoots and leaves…………

  17. Paul67

     

     

    I thought the hun strategy was just not to pay bills, leave a trail of eye watering debt and then act all hard done by and triumphant at the same time.

  18. South Of Tunis on

    Pal who has been following Hearts for 50 plus years says the standard of fitba [ from both teams and the officials] on display today didn’t merit the label -professional.

  19. GlassTwoThirdsFull, they’ll get there…

     

     

    Parkheadcumsalford, fate, is all about the journey. When they journey is complete, things won’t be nearly as funny.

     

     

    EXILED TIM, I expect another couple at least but, as always… every penny will be invested back in the team.

     

     

    This has always been the case and will continue to be, which doesn’t mean every penny will be spent this month (although it might).

     

     

    Also remember that money in for transfers does not equal money available for transfers, read back to my article earlier this month.

     

     

    Battered Bunnet, have a serious look at your figures again. You are miles out in terms of our cash. Which is a worry, if you are miles out, I think I need to blog more on money….

     

     

    ASonOfDan, aye the creditors……

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. ...
  10. 22