I can’t tell you how many statements I’ve read from those trying to bring down Newco Rangers (bonne chance) but not one comes near to approaching the key question: what can they offer the the men and women who own shares in Newco to convince them to accommodate their future aspirations?
Threats, intimidation and blackmail are all possible incentives, but no one has actually put a case forward which would compensate the investment made by the shareholders who, let’s remember, own all club assets.
An enormous assumption appears to have been made that hedge funds and various Easdales will capitulate and simply walk away and sign their paid-for assets over to a group who are regularly abusive towards them. It’s like 2012 all over again, when parts of the world assumed HMRC would capitulate and agree to a CVA for Oldco, despite all genuine evidence (i.e. published policy) indicating otherwise.
Game Theorists would have a ball with this scenario. Shareholders are being offered a choice, hand over your assets to a hostile opponent or attempt to continue with a vastly reduced business. The former option should not be taken seriously.
Question is, where does this particular game end? It’ll not be in an outcome satisfactory to many of those dreaming of ‘competing with Celtic’ anytime soon.
This mind-set should be familiar. It’s the same one which blamed Celtic, or small-minded small clubs, the SPL and/or SFA, blamed anyone, in fact, apart from those who endorsed years of overspend at Rangers, for their eventual demise.
Walking headlong into unsustainable debt is no different than walking headlong into a conflict with hedge funds who would sell your valued acre for landfill rather than be held to ransom.
I’ll renew my season tickets tonight (still annoyed I didn’t do so in time for the free ticket draw). Whatever happens in the wider scheme of Scottish football, one club will be supported ‘through and through’.
Yogi Bare – The John Hughes autobiography:
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ernie lynch
11:41 on
25 April, 2014
Because of your obsessional hatred of the SNP you are unable to see the big picture, just like the fans of our former football rivals across the city
How could Noam Chomsky not refer to the SNP when talking about Yes Scotland ?
POLITICAL thinker and academic Noam Chomsky has revealed his support for a Yes vote in the upcoming referendum on Scottish independence.
In an interview with Russian news agency RIA Novosti, Professor Chomsky said he had ‘been following the debate with interest’, adding that he was continuing to look into the details and consequences of a Yes vote.
Professor Chomsky told RIA: “My intuition favours independence.”
The academic also spoke of his desire to see greater devolution of power across Europe, adding: “No one wants to restore the Ottoman Empire, obviously, but in some respects it had the right idea: let people manage their own affairs, with co-operative federal arrangements, and as few barriers as possible.”
A spokesman for Yes Scotland told RIA Novosti that Professor Chomsky’s backing was ‘encouraging, but not surprising’, adding: “Professor Chomsky, of course, is not a nationalist and increasing numbers of people in Scotland, particularly Labour supporters and those who have no party political affiliation at all, also see the logic of putting Scotland’s future in Scotland’s hands.”
I am surprised that they are not allowing payment by debit card as such payments are not insured and are automatically taken out of a person’s account. I can’t see why anyone would need security for debit card payments as the person on the hook would be the payer.
PFAyr – some way to go is an understatement. That squad will not get out of the Championship never mind compete with an opponent with a squad worth roughly 15 times the amount, chockful of internationals, who also happen to have more than the market capitalisation value of their entire club sitting in cold cash in their bank account.
It is laughable to suggest they will compete. It is hallucinogenic.
Surely this is trading from a position of insolvency is that allowed, over to you SFA?
HH
Ok guys don’t buy the guff about the merchant acquirer. Sure they cover theinsuranc on credit cards and hence that will be true. But there is no risk in debit cards as the funds must be in the source account. No credit risk there. It’s bolloks designed to extend the season book deadline.
Rogue
I’ve maintained for a long time that the smart move is to hive up the properties and covenant the football operation to break even as a condition of lease.
RIFC plc becomes a property company, much like any other, generating revenue from rental. Sevco, the football operation, can be sold to the next passing mug.
It’s pretty straight forward.
The SFA cannot give them a license under these circumstances. They have also cheated their way through the last two leagues using financial doping.
lionroars67
11:48 on 25 April, 2014
Noam Chomsky being interviewed by a Russian news agency.
Finger on pulse, much?
Don’t think so.
Why are the yes campaigners on here so anxious to distance themselves from the SNP?
Is it party strategy?
Cadizzy. Exactly. It’s only and excuse……
This is quality
Future strategy
Season 2014/15 – Building a team and organisation to deliver the SPFL Championship in the first season in the division
Season 2015/16 – Re-establishing the Club in the SPFL Premiership with a top two finish and the ability to challenge for the title
Season 2016/17 – Target to be SPFL Premiership Champions and establishing the platform to be competitive in UEFA competition
That my friends in Celtic is why it took over 120 days to be published .
Wallace couldn’t type the above for hysterical laughing .
Think i will head over to ipox with my old suitcases and make a few bob , well they will need somewhere to store all the cash coming their way.
Best of all though no pay cut for sally
RIFC share price down 2p (8%) on 0 trades – stock market decision ?
No credit facilities .
Viable trading warning.
Buck passed to fans if they don’t renew.
Perfect storm ?
Sanna (gonnagetfat(ter)onmairjellynicecream csc)
I take it no one has told the bankers or merchant acquirers that “they are the peepul”?
dearie me..
beatbhoy
11:46 on 25 April, 2014
“Was there any particular reason they felt the need to overspend on players to win fourth and third tier divisional titles??”
no faith in the highly paid manager?
The Battered Bunnet
11:51 on 25 April, 2014
It’s the only realistic way I can see for anyone to continue to make money out of it.
The whole ‘flatten it and make a speculative killing’ scenario seems like fantasy.
TBB – that is the only play here that makes logical sense when you see what has happened.
And how will the “club”, sans any assets and hamstrung with a rental to a hedge fund in perpetuity, ever compete with Celtic ever again?
If I was a St Mirren fan I would be concerned.
Beat bhoy @ 1146
To keep the hoards happy I believe.
So as well as the DD/CR Card blow ‘The Rangers’ need to raise 20 to 30 million to operate over next year to operate but of this required amount they can only raise 43,400,000 * 1p = £434,000 via a share issue they agreed at AGM back in December.
What was that F word again?
MWD says YES
Does anyone know what % organised crime chaps are prepared to forego up in order to launder funds?
Signing contracts without using lawyers makes you wondet
Phil MacGiollaBhain@Pmacgiollabhain · 5s
£67.2 Million over 17 months.
That means it took them £3.95 M per month to operate.
They took in £1.5 M per month.
#F**ked
————-
RL
That’s the end game for the Huns
Coming back bigger and better….dontcha know
If they are introduced to reality by their custodians they’ll jack it in
Keeping up the big club, history et al is essential to the swizz….
Quite amusing the way that Greengo and co have fleeced them …to think they lauded him as their saviour …and that wasn’t just the stupid ones either
Happy birthday to Greenocks finest, Greenlion2 who claims to be only 50 today.
Never heard so much rubbish since booper Ally’s wage payback :¬)
Only joking gig yin
HH
Rogue, medium term I agree it’s a major handicap, but there are umpteen valid business models in football. Take a look at Udinese for example.
Behaviour tends to adjust to reality over time, sometimes painfully, albeit that is not a trait of the business at hand.
big = gig
you knew that right?
:¬)
For all his faults you can’t help admire what Fergus did for Celtic. He put the foundations in place. He delivered what he said he would on time and on budget.
Not only did he build a wonderful stadium he made sure our playing surface was top notch by spending a fortune filling in old mines under the ground. Nothing was left to chance. It was a professional job. I am reminded of the parable below.
The parable of the Two Builders: Matthew 7:24-27, Luke 6:47-49
“All those who listen to my words and do something about them are like a wise man who builds his house on a rock. The man laid a strong foundation by digging deep into the earth. Then he worked carefully and slowly making sure the building was strong and secure on the rock. And then the rains and floods came and the wind blew hard and beat against the house. But the house did not fall because it was built on a strong foundation.
But the person who hears my words and does nothing with them is like a stupid or foolish man who built his house on the sand. This man did not build a strong deep foundation and built his house very quickly. His tall house was built fast and he moved in feeling safe. Soon the rains and floods came and the wind blew beating against the house. The tall house without a strong foundation just couldn’t stand up to the flooding and winds and it cracked and the whole house collapsed.”
Celtic have their house secure. Our whole foundation is built apon a sensible business plan and the foundations were laid by Fergus.
The job at Celtic Park is far from done. Celtic have done their work slowly and shown great patience whilst other clubs have tried to throw money at things to get things done quickly. Football is an emotional market. People get carried away on the wave of a good season or seasons and the promise of a big success in trophies very quickly. Leeds United were a prime example of a club who got carried away and spent money far too quickly and paid a heavy price for it. They are still toiling.
We all are guilty at times of wanting Celtic to sign that star player or spend a wee bit more to secure a top target that we believe can spring board us to the next level but the club are not swayed. The board take more criticism than praise but they are focused on the job in hand and don;t waver from the strategy. Celtic are playing the long game. Celtic are cautious but still give the support some success. Of course we would all like more as football supporters we are greedy. It is entirely natural to be so. If you don’t want to win everything you enter there is a problem.
Our revenues will not allow us to compete with other European super powers. What is does enable us to do is compete in a one off game. The CL gives us this format and the revenues from it are crucial to allow us to compete on some kind of level with clubs from countries of similar standings as Scotland. If all our players are fit and on form we can beat anyone on our day. That is about all we can ask for in the current climate when a Man Utd player earns £300k in one week and our POTY in waiting cost us that much in a transfer fee.
Fergus built the house of Celtic on rock and the foundation is strong. Other clubs could have followed his lead but chose not to. I think we all have to bear that in mind at times when we are looking at the shortcomings of the Celtic board. Sure they will make mistakes but our club will be around for a very long time and compete as long as they are backed by our support.
The clubs who built on sand will be constantly repairing and throwing money at the situation to keep themselves together until eventually they crumble and fall in a pile.
Today is another day when you doff your cap to a wee fella who had a master plan for a club he loved and delivered it whilst put under the most extreme pressure by a whole host of parties. We might not always please every single supporter all the time but as a club we certainly will be around competing for trophies for another 125 years.
Celtic steady as a rock!
LB
TBB
Break even ….they wouldn’t know where to start with that proposition
Cadizzy /. Geordie Munro
I need to practise framing rhetorical questions!
Earnie
Why are the yes campaigners on here so anxious to distance themselves from the SNP?
:::::::::::::::::::
This may sound too obvious but it may just be that they are not members SnP.
Guys,
Get real regarding the referendum debate
To quote Professor Chomsky has came out for the Yes Scotland campaign is totally irrelevant. Yes he is a clever academic however :-
Although an American by birth he is against the American state system and is highly critical of the USA foreign policy.
He is also regarded as an inspiration for political dissenters. of all shades.
In summary : He would say that wouldn’t he. His interest is not with the Scottish debate but is more to do with destabilising in his eyes America’s greatest ally. i.e. The UK.
HH
I’m Off OOOOOOT
In a while before I go I will have a wee peek at TSFMs take on things and to put a smile on my face for my excursion a wee peek at deluded media.
Although its hard to judge them two posts on tin foil heids twitter
1. Im happy with review and will be renewing
2. F***ing omnishambles
that F word looks popular today:)))
iki
12:05 on 25 April, 2014
‘This may sound too obvious but it may just be that they are not members SnP.’
###
Not even one of them?
That’s about as credible as most of the nonsense the SNP spout.
One for the finance heads on here
The authority given to the Board at the AGM in December 2013 to enable the Company to allot up to 43,400,000 new ordinary shares of 1p each in the capital of the Company on a pre-emptive basis to existing shareholders has not been exercised to date. In the event that season ticket sales over the forthcoming weeks are materially less than anticipated then the Company may seek to use this
pre-emptive authority which can offer a cost effective and efficient method of raising capital.
Couple of questions
1. only existing shareholders can buy into this ?
2. At what share price ? current market ? 1p ?
If at current market , that would only raise £11-12M , at 1p , less than £0.5M
Would that mean , groups like RST would need to ante up , up to £1M just to maintain their current shareholding % ?
Could blue pitch/margarita effectively increase their % shareholdings for a minimal extra investment ?
Sanna
From the Fts Alphaville blog
Do we really have to talk Rangers International Football Club?
BlockRangers International Football Club PLC (RFC:LSE): Last: 26.00, no change, Volume: 1.71kBlockBEIt’s not a listed business in any conventional sense.
It’s a stub of shares held by a couple of hedge funds, a rather nutty sideshow involving two-bit businessmen, and a lot of stock held as souvenirs under mattresses by people in Bearsden.
, yeah, it’s worth zero by any conventional measure.
At the current time, company is not in a position to carry out a significant equity fundraising
Review found that Rangers was in a more severe financial condition
More severe than nearly dead? Cripes.
Review process discovered issues in operating procedures, commercial contracts and strategy, all of which were more serious than anticipated.
Note also it’s stopped taking credit card payments.
Which is invariably the death-knell of a retailer.
Remember Fopp did that the weekend before it departed.
Ditto Zaavi.
BAnd Game.
That wee Imran fella must done some incredible commercial deals and with not a lawyer in sight – and he just happens to get a bonus on every deal he signs….kerching kerching
ernie lynch
11:52 on
25 April, 2014
Why are the yes campaigners on here so anxious to distance themselves from the SNP?
====
Ernesto, would it have something to do with the SNP having introduced the OB act, its leader (and likely Scottish PM) being on record as referring to Rangers as “part of the fabric of Scottish society” or his infamous “blood of our blood, bone of our bone” quote in relation to helping NI (again we know he wasn’t referring to the indigenous Irish of the occupied statelet). Or How about the SNP ordering the destruction of statistics that proved Scotland has a problem with hate crimes against those from an Irish Catholic back ground, or what about the classic being arrested for ‘blessing yourself in an aggressive manner’ quote from a senior member of the SNP.As it stands given that this is a blog populated in the main by Celtic supporters one would be much less open to ridicule to state you’re a labour / liberal / Green party supporter of the Yes campaign and propagate the fantasy that the SNP have absolutely no chance of being the party in power should the yes vote prevail in September.
PS
Are Sevco no deid yet?
Looks like it’s major meltdown on the hun forums, the 120+ day review is in and by the look of things the ‘journey’ is not going to plan anymore lol
We the Celtic family must thank
Mr C Whyte, C Green and every other conman who rolled up and turned the Huns into a there very own retirement fund, you done a grand job HH
Tonight I shall raise several glasses of chilled rose to Charles Green.
Not that alcohol is actually required.
http://www.youtube.com/watch?v=Bn4MQyqLqJA
There`s just no way our much maligned,but highly successful, business minded, Board could have seen this coming and have factored this hun armageddon into their strategy,is there?
Well,is there?
They kept their heads when all around were losing theirs` and blaming it on them.
Hail Hail the Celtic Board.