I’ve seen a bit of chat on where Dave King’s promised overinvestment is, since Celtic humbled his team on Saturday. Let’s be clear, Newco are overinvesting.
Senderos, Barton, Hill, Kranjcar are all earning over £750k, Barton significantly so. They signed a further seven during the transfer window. Running costs are eye-wateringly high for a club without significant income streams from Europe, television or merchandising.
The £30m PR bluster, which the new board used while trying to unseat the Easdales, can now be seen for what it was, but this level of expenditure is pretty much as high as is practically possible without a lunatic Sugar Daddy. In fact, if we were running with similar numbers, I would screaming at you that we need to cut back for fear of insolvency.
Four years ago someone in the game suggested to me the Rangers group of clubs were fatally wounded, despite selling over 30,000 season tickets for the Third Division. The reasoning being that the brand depends on an air of success, and would crumble under sustained, unrelenting, mediocrity.
I’ve been saying for four years, most people haven’t began to realise the far reaching consequence of what happened in 2012. “Getting back” (sic.) isn’t about reaching top flight football, it’s about having the budget to be able to compete with Celtic, who could turnover around £50m more than Newco this season.
Where do you even begin to tackle a problem like that?
No Sugar Daddy will make the multi-season investment required. Insolvency remains a real danger for any club running a deficit in double-digit percentages of its turnover, without robust borrowing in place (or a genuine billionaire acting as backstop, if required).
The non-football costs of running a club at Ibrox and Murray Park (an albatross) are significant and comparable to costs at Celtic Park and Lennoxtown. This leaves income available for football comparable with Hearts, Aberdeen Hibs and Dundee United.
The real conundrum is, do you accept your place and live within your means, or risk insolvency trying to catch Celtic? I don’t think either scenario is a viable option. You can make your own mind up about the viability of the football club.
I’ve not mentioned the toilets on Saturday, which is no more than you expect, but I did expect better than the dummies (which have been shamefully exploited to represent something they were not). Could the Seville experience happen now? Nope. This should concern us all.
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There’s a huge over-reaction to the dolls, which was, undoubtedly, the intention of the professionals who highlighted them…
Not a funny joke, in very bad taste, and unbecoming of our fans, yes. But “sectarian hatred”? Come on…
Not logged on since Friday – been over in Norn Irn visiting a friend (and therefore missing my first home game of the season).
On Saturday 2 o’colockish we we walking the Giants Causeway when I got THE news. Giggle and titter we did, with the good ladies frowning and muttering about childish behaviour. Anyway, not five minutes later a ‘sticky’ approaches, clad in 32 Red stuff and looking glum. “Excuse me my man” says I. “Do you know the score today?” A quick glance at me, in my bright blue Berghaus walking jacket and he says “5 -1” “To us?” I ask. Falling for it he says “Naw, them”. I stare, shrug, and we move on. 30 yards and my mate and I are helpless, leaning against each other and when I glance back the Sticky is glowering. Feck it, THAT was funny.
Burgas: My post at 4.42 my information from wee green book and various Celtic publications including Packie book.Best wishes to you and good health.
Awe_Naw/TGM,
Got to agree, the old firm are back and people are surprised that the old firm supporters behave like old firm supporters I meant full capacity to welcome back the old firm and the pleasures of mock outrage. I doubt anyone went along to that game expecting it to pass without incident from both sides. But they just love to mount their high horses and scream their indignation.
You go to an old firm match expect old firm behaviour it’s back and you love it so stop pretending there’s anything different it’s all about the supporters remember.
VFR800A8:
Thanks for that mate, and thanks for the link. (The second doesn’t work either! But I will seek out the image you have in mind, because that’s a good one to hold onto, especially with the bile pouring out of Ibrox tonight, which absolutely scrapes through the bottom of the barrel and heads for China.)
Lawwell needs to grow a set and meet this head on.
HH
If this escalates then I hope Celtic release recordings of the signing from Sevco fans to a media press conference followed by pictures of damage. This is a deliberate attempt to deflect from everything Paul’s written about in this article.
JAMES FORREST on 12TH SEPTEMBER 2016 5:11 PM
VFR800A8:
Thanks for that mate, and thanks for the link. (The second doesn’t work either! But I will seek out the image you have in mind, because that’s a good one to hold onto, especially with the bile pouring out of Ibrox tonight, which absolutely scrapes through the bottom of the barrel and heads for China.)
___________________
The 3rd one does. There is a much better picture that I will see if I can source (or someone here might have a link). It clearly shows 2 effigy’s hanging from nooses.
I think our idiots got the idea from their idiots!
FAC the Act
KTF
I’m not usually one for listening to phone ins but tonight I will.
Canamalar
Thats what the hype is all about, suits the tv shareholders down to the ground.
Thats what they want, and loads of it…..well, they got their wish.
Its mere deflection from the real criminality.
Inflatable Squirrel.
HH
Jeez, you could write a book on the statements this lot have put out over the last 4 years.
Each one more bonkers than the last.
BOURNESOUPRECIPE on 12TH SEPTEMBER 2016 3:41 PM
TOSB
There is a lowlife SMSM culture pandering to Sevco with all it’s might, they can hardly concentrate on the soccer can they? ;-)
Saturday was the dawning of the inevitable and a humping most of us saw coming, and didn’t want to miss.
What right a newly promoted, newly formed club, to visit Celtic Park and escape a mauling from a rampant Rodgers cadre.
More than 50,000 Celtic supporters were magnificent, in humour and song, without a semblance of controversy , failed attempts at ‘whataboutery’ are a common theme for the old and the new fixture it seems.
God Bless Glasgow Celtic and all who sail in her CSC
……………………
Seconded.
What annoyed me were the daily bulletins last season from Warburton telling us all that was wrong with football in Scotland. He’s only been a manager for 5 minutes and never managed a team in the top division of any country. It’s the sheer arrogance that angers. He is now being found out. I’ve noticed he’s a lot less patronising these days and we’re not hearing ‘with respect’ quite so often. He looked a haunted man during his after match interview/rant on Saturday. There was also a noticeable lack of eye contact.
I wonder what tack the media will now take towards him. Today’s Herald would suggest that they are already sharpening their knives.
The fun and games are about to start again.
I also think a Celtic player will score another hat trick against them this season.
Good god I cannot believe the hysterics on here about the dolls.
I think sandman said it too but 2 dolls with scarfs/ sashes on compared to constant sectarian chanting and reference to child abuse? Catch a grip.
Fact is our support will have a word with the eejits that did this and have expressed their disgust. It’s what we do. The animals on the other hand…..
And frankly crying incessantly about it on here and elsewhere gives it an equivalence and importance that it does not deserve – it also feeds the real bigots.
It’s all just a storm in a d – cup
Huns statement – LOL! Level 5 really firing the invoices in now, eh?! :-))))))))))
JF,
On another issue……I wonder, (for your own reputation as a writer), if you could consider your use of the word, “literally”?
A few times now you’ve now had me imagining bizarre scenarios which you have described in your pieces as “literal”.
If you look at your latest one you had something amashing into a wall…..literally
Minor I know……just had to get it off my chest.
Literally!
Was really on a high since Saturday and now feel disgusted at some of the antics of our support – yes we know what they did, but that is what they do – Celtic are above that although there does seem to be an arrogant element amongst us that just don’t see how awful they are.
Sadiesbhoy – I think we’ll hit them for more than 5 this season too. It won’t be the same as Hampden in the sun or as joyous as 6-2 in paradise. But another nail in their next coffin it will surely be.
JAMES FORREST on 12TH SEPTEMBER 2016 5:11 PM
VFR800A8:
Thanks for that mate, and thanks for the link. (The second doesn’t work either! But I will seek out the image you have in mind, because that’s a good one to hold onto, especially with the bile pouring out of Ibrox tonight, which absolutely scrapes through the bottom of the barrel and heads for China.)
_____________________________
Here’s the very one!
https://www.thesun.co.uk/archives/news/1003370/beware-of-bomb-in-post/
THEORIGINALSADIESBHOY
Yeah Warby looked, like a demented drunk on the side line who was sobbering up during the game. He was miles out of his depth on Saturday at Celtic Park, It might actually be dawning on him, That he is not very good and the media are all at it. :)
wee moment of clarity on Sat for the hat,
KLV
We are disgusted about the blow up dolls, But let’s not get carried away and do the fud media’s job for them.
We won 5-1 against the countries favorites. That is all……………
KLV
Just logged on to Club 1872 site to see their press release.
Lo and behold! They have a big Star of David as one of their logos!
Who’d have thunk it?
FAC the Act
KTF
All set for tomorrow this is where we want to be I hope we compete better than the last time we were there. Good solid performance on Sat g8 from Dembele and Sinclair, disappointed that we let in a soft goal then gave them a good chance at 2-1 with another deep cross. Still laughing at Weir getting sent off and Warby, “warbs the great city trader ” to quote MSM blaming the defeat on the fact Lustig should have be giving a 2nd yellow and sent off hilarious.
Been laughing ever since the guy is comedy gold.
Hail hail
TOSB
Yip. Warburton becomes more and more of a strange character with each defeat.
He was exposed after Hampden and the Hibs humping when an Evel5 blanket was thrown over him, whilst he considered his wage offer.
The best bit is that nobody knows where he was from when he chucked it as a player until he re- emerged as a coach after 21 years.
I think we’ll be told CSC
VFR800A8
In your own time.
Just what’s wrong with the Star of David.
BOURNESOUPRECIPE
I read that as well, Its just another made up story the media never checked out and were fed by l5. Makes them all look silly over and over. Same with the motherwell born millionaire stuff. Lies Lies and more damn Lies.
I bet our board know all this.
KLV
Famously (in accounting circles) the wording of an audit report was changed in the UK to what is now referred to as the ‘Bannerman wording’.
The scope of an audit certificate and potential reliance thereupon was once upon a time much more open ended. User groups (for example shareholders, lenders, employees, tax authorities, investors) would get comfort from a clean audit report and their decisions about the company would perhaps be weighted by that comfort. So much so that a bank loaned £5m to a company that had been audited and issued an unqualified report by Bannerman Johnstone Maclay (a Glasgow firm).
The company went bust and BJM were successfully sued for losses suffered by the bank. Thereafter the profession and its professional indemnity insurers moved to protect itself and the new wording of the audit report was established making it crystal clear the auditor reports only to the company members (shareholders) and no one else and that no one can ever hold the report up in any decision making claim.
In essence then the auditor is only really exposed to the shareholders, financially, albeit the reputational damage not insignificant, for a report that misses anything an audit would have been expected to pick up in terms of whether the accounts are true and fair and the company remaining viable.
When RFC (RIP) had one primary shareholder the audit report represented little risk to the auditor. The principal owner would be desperate for a clean report as lending and credit is dependent on it (just because they can’t sue the auditor doesn’t mean users don’t still base decisions or ratings on the report). So a revalued asset that refloats the Balance Sheet can be handy in ticking a box. Loan notes and an unrestricted facility with the parent company help too.
Eek forward a little to an owner who’s paid a pound for the whole shebang and you can run a company into the ground without a by your leave to an audit, a revaluation, or even a part payment to the face painter’s invoice. That whole accounting process then ends with liquidation and BDO will tie that off eventually. No one left to sue.
When the basket of assets is then placed in a newco and the process of accounting and audit is started again, with an IPO and new user groups of every sort all over the place, the audit begins to matter again and there’s a new pressure on the auditor, as RIFC found out when Deloitte decided to issue the starkest emphasis of matter that a company can face – going concern. To get to a going concern comfort an auditor needs to have considered the evidence and believe that a company can trade for 12 months from the date of signing the report. Just 12 months.
In lay terms a going concern emphasis of matter says “We cannot say with any professional certainty the company will survive to another audit report.” This is currently the state that RIFC find themselves in. Hence no credit line.
The accounts to June 2016 will currently be undergoing audit with their new auditors, Campbell Dallas. Now with King on the throne and a floatation and cash the actual King (stay with me) an unqualified audit report is critical, he will be pushing for it. I have sat in on distressed audit meetings. I can only imagine how intense this will get.
The clear and present danger for Campbell Dallas is that the user groups who remain covered by the Bannerman wording include the Easdales and Ashley and any other shareholders who have soft loans outstanding, or have advanced any commercial deal cash.
I am fascinated at how this will play out and what the audit report will say, it’s certainly something to look out for. Once we get that we can have a better idea of whether there is at least a budget and plan that has been run past the auditor and that he could, if necessary, point to if faced down by lenders at a future time. If RIFC cannot prepare a budget and forecast that satisfies this then the comfort that you can take is that Haagen Dasz is a sound investment.
A Celtic spokesman said: “Celtic will not become involved in a tit for tat spat regarding all events at Celtic Park on Saturday.
“We will deal with all issues arising in a proper and professional manner in line with our well established policies.
“Saturday was a fantastic event for the club and our fans worldwide.
“We thank the overwhelming majority of our supporters for the positive backing they gave to the team and for making this such a great occasion.”
As they say, no smoke without fire.
http://www.philmacgiollabhain.ie/an-exploding-wage-bill-for-an-imploding-season/
http://www.scotzine.com/2016/09/time-to-take-strict-liability-out-of-the-hands-of-the-club/
their own effigies
Celtic media needs to do better than that – rather than simply deflect, we need a driving statement forcefully condemning the noise from Ibrox.
BILLYBEAR on 12TH SEPTEMBER 2016 4:25 PM
Could someone enlighten me as to what the banner `They hung out the flag of war` meant? Genuine question
…… ………
It’s about the Easter Rising.
btw , i love the atmosphere and creativity the GB brings to Celtic park. I think they need to be careful with lowering Celtic standards to those across the city. We can criticize their culture and at the same time put up banners about War, hun scum, pro ira, etc…. what is the gain from this ? I’d rather positive banners about celtic, jock stein, our domination , etc….
How predictable a response is this to Saturday’s reckoning? Deflection off the radar. As they spin off into another self inflicted calamity they’ll throw everything at us. And by them I include the media, particularly the tabloids. Take Celtic’s lead. Don’t take the obvious bait, retain your dignity and avoid their so obvious elephant traps.
I almost admire their brass neck hypocrisy in its brazenness. The assumed victimhood. It’s really something to see..
And yes the dolls were crass and moronic, but as others have said, don’t do their work for them by accepting there is equivalence (and in fact worse) here. The cultures of the two clubs couldn’t be more different. One exists with a supremacist mindset and one doesn’t. We know which is which.
One final thought. Continue to savour everything that Saturday signified. Not just the glorious football outcome, but the portents for them that Paul talks about in his blog. What we’re seeing today is the screaming despair of desperate men, trying vainly to distract themselves and everyone else from the abyss they face… again. We on the other hand have only a rosy future to look forward to, starting with a match in the Nou Camp against the greatest club side of them all. Let’s enjoy where we are and where we’re going without these distractions We can also enjoy where they’re going at the same time.
Be My Girl, Sally
Won’t you be my girl
Won’t you be my girl
Won’t you be my, be my, be my girl
Won’t you be my girl
Won’t you be my girl
Won’t you be my, be my, be my girl
Won’t you be my girl
Won’t you be my girl
Won’t you be my, be my, be my girl
Won’t you be my girl
Won’t you be my girl
Won’t you be my, be my, Be my girl
I was blue and lonely,
I couldn’t sleep a wink
And I could only get unconscious
If I’d had to much to drink
There was somehow
Something wrong somewhere
And each day
Seemed grey and dead
The seeds of desperation
Were growing in my head
I needed inspiration
A brand new start in life
Somewhere to place affection
But I didn’t want a wife
And then by lucky chance
I saw in a special magazine
An ad that was unusual
The like I’d never seen
“Experience something different
With our new imported toy
She’s loving, warm, inflatible
And a guarantee of joy.”
She came all wrapped in cardboard
All pink and shrivelled down
A breath of air was all she needed
To make her lose that frown
I took her to the bedroom
And pumped her with some life
And later in a moment
That girl became my wife
And so I sit her in the corner
And sometimes stroke her hair
And when I’m feeling naughty
I blow her up with air
She’s cuddly and she’s bouncy
She’s like a rubber ball
I bounce her in the kitchen
And I bounce her in the hall
And now my life is different
Since Sally came my way
I wake up in the morning
And have her on a tray
She’s everything they say she was
And I wear a permanent grin
And I only have to worry
In case my girl wears thin
Won’t you be my girl, won’t you be my girl
Won’t you be my, be my, be my girl
Won’t you be my girl, won’t you be my girl
Won’t you be my, be my, be my girl
Won’t you be my girl, won’t you be my girl
Won’t you be my, be my, be my girl
You really couldn’t mark a Huns neck with a blow torch and for that matter Police Scotland’s.
The effigies were in very poor taste and out of place for Celtic fans IMO. But criminal, you are having a laugh?
I would say it is unbelievable that a criminal club ran by a criminal chairman would muster a statement about it but that Hun entity lack at all levels of humanity from top to bottom, so really it’s not surprising.
Deflection for the sorry state of their club, their piss poor manager and their worse than shit players.
Like the destruction of the toilets this should be an internal club matter!
MWD
Each Sevco statement as if it were possible, seems to devalue and discredit each previous statement.
A new club destroyed from within, inside five years.
Who’d Have Thunk it CSC
Police scotland on the case i see, big bad blow up dolls. Police scotland must be deaf with no comment on singing for 2 hrs or until the 4th goal went in.
Not really surprised, As has been posted, Well done to the guys who had the great idea. You gave them an out again. Just F*** off the club don’t need guys like you. On behalf of the 99.99% that enjoyed a great game and are still buzzing with Barca in mind, Thanks.
KLV