Dark days of 2012 haunt Ibrox once more


One of two things are going to happen:

Possibility One:

Dave King will say: “You ain’t got no problem, journos. I’m on the pot. Go back in there, chill them Bears out and wait for the £30m, which should be coming directly”.

Possibility Two:

Dave King will make some irrelevant, vacuous, comment, or make no comment at all, but he will NOT say “Chill them Bears out and wait for the £30m”, because £30m isn’t coming.

If option one happens, Newco has a future.  If anything but option one happens, they have no future.

They will need £10m to keep the lights on next season in the Championship – and that’s before any ambitions to improve the football operation.  Even more important than keeping the lights on, they need to find £5m to repay Ashley’s loan (yes, getting Intellectual Property off Mike Ashley is more important than staying out of administration).

That’s £15m loan or capital investment needed, on top of ticket sales and other income, to survive the next 12 months, without repaying any of the directors loans and without finding a budget for a better keeper than Cammy Bell.

If they find this money, and they win promotion next year, they will still have a deficit (even with the current player budget) in the Premiership.  £30m would be gone within two years, and that’s assuming the millions needed to be spent on the stadium is forgone for a while longer.

While King was building momentum to displace the last board, he was crystal clear about the level of ambition which was a minimum requirement for Newco: compete with Celtic.  He was prepared to spend his children’s inheritance, £30m, £40m, whatever it takes!

Now he’s not so verbose.

Last year he issued a statement asking “Does the [Newco] board agree it is unfair to ask fans to buy season tickets before they consider the business review?”  Now he’s ‘on the throne’ we’re hearing little about the club’s plans. It’s easy running a football club when you’re criticising the guys currently doing the job, it’s a whole lot harder when it’s you who has to make the decisions.

Mike Ashley’s EGM next week may be a welcome distraction.  Mike will be the bogeyman, but only for the permanently gullible (and there are lots of them).  His loan is modest compared to the size of the funding gap and it was known about before King urged shareholders to back him.

That Ashley is an uncompromising lender and holder of onerous contracts is no mitigation for King.  Ashley is that and more.  We knew this, King knew it when he told fans he was the man to turn things around.  He cannot act surprised now.

So is the £30m coming?  Even if King has the money, I can’t see it, it just doesn’t make sense.  Pouring £30m into a black hole, without merchandising rights for 7 years, without a realistic prospect of being competitive on the field, when the only reward is to survive long enough to pour in yet more millions, is lunacy.  The dark days of 2012 will haunt Ibrox once more.

It makes more sense to let the club go to the wall, let Ashley run off with the Rangers brands, make him the bogeyman, and use your money to bid for the stadium from the insolvency practitioner.  Four or five years down the line Govan United could be a top-flight team.  They may even be able to cut a deal with Ashley for rights to the ‘Rangers’ name, which despite all that’s gone on, still has some cachet.

I’m pleased to read Celtic on the front foot again this morning regarding the Offensive Behaviour’ Act. I’d hoped that when the baton passed from Salmond to Sturgeon the Scottish Government’s lunge in the direction of extraordinary police powers, and laws created after curious political considerations, would end. I gather a glimpse of doubt crept in around a year ago, as immediate political realities gave the Government reason to reconsider, but all such self-doubts have since been washed away.

Get used to the Act, police with guns on our streets as a matter of course, and ambitious aims for their authority.

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    HENKE 1220



    It will be a book of join the dots.



    And it will as always be beyond them…

  2. An Tear man



    Re Washington Post.



    I made him an offer. Waiting to hear back.

  3. Get used to the Act, police with guns on our streets as a matter of course, and ambitious aims for their authority.






    a very bleak scenario :-(((




  4. The Battered Bunnet on




    The suggestion is that SA bought the CONCACAF vote for €10M.



    FIFA “contra’d” the money, crediting the “Legacy” account and reducing the LOC budget accordingly. Provided it was all kept within FIFA, there would be no external trail. Unfortunately for Valcke, the beans have been spilled.



    There is no “Diaspora Legacy Programme”.



    The essence of it appears to be that Warner and his chums got €10M of SA Govt money for their votes, the money being funnelled through FIFA with the full knowledge and cooperation of the Secretary General.



    Not very pretty…

  5. Jungle Jim Hot Smoked on

    Lennon`s passion


    Thanks. As I suspected, it has not been confirmed. The Celtic site simply refers to `tens of thousands`. I rather suspect, were it 44k, they would have said ` well over 40k`.


    Time will tell.








    Thoughts on the suggestion from Phil that Ashley will require £33m to release Sevco from the chains of slavery,or onerous contracts as I believe they are termed?





    As for your last sentence,I believe Mr House’s army are none too happy at some of the ramping up which has been taking place.



    Whatever,whoever,it must be tamped down.

  8. mighty tim supporting wee Oscar on

    67 heaven from previous thread msp”s may have passed this disgusting bill but it is police Scotland who are enforcing it over aggressively. It is police Scotland’s officers who are standing in courtrooms under oath lying to their teeth doing everything in their power to have young football fans lives and aspirations potentially ruined so as they can bumped their numbers up. Yep politicians may have made the bill but by God J Edgar House and his stormtroopers are doing their damdest to impliment it.



    Kill the Bill










  9. dena29



    It wont happen here, yes we have BTP that have them, but general plod no chance.



    the people of the UK wouldn’t allow it and any excuse of national security would soon be put to bed.

  10. TBJ says Wee Oscar Knox is in heaven with the angels on

    Imagine waking up on Monday morning and realising your a zombie – poor wee Huns



    Have they no been punished enough ??

  11. Looks a lot like Che Guevara on

    Paul, you mention buying King buying the stadium from insolvency practioner. My understanding was that the stadium was owned outright by a compltely seperate legal entity and as such would not be part of an insolvency event?

  12. HAHA HA HA HA HA AHA Aha aha aha HA AH







    AAAAAAAAAAAHHHHHAAAAAAA ha ha ha ha ha ha ha ha ha



    Once again Paul67 from out of absolutely nowhere comes up with redacted figures just ot have a go at my new regime.


    I’m so angry and disappointed in the tone. I could flounce!

  13. Jungle Jim Hot Smoked on

    lennon`s passion


    How often was that mentioned in the rags prior to two days ago? I have been away so it is a genuine question!




  14. CELTIC are delighted to announce the signing of Belgian internationalist Dedryck Boyata, who has joined the club on a four-year deal from Manchester City.



    The 24-year-old defender becomes Ronny Deila’s first signing of the close season, and will join up with his new team-mates later this month when they report back for pre-season training ahead of the UEFA Champions League qualifiers.



    Dedryck first joined Manchester City as a youth player back in 2006, and after coming through the ranks at the club, made his first-team debut in January 2010. The following season he made 17 appearances for City, and picked up an FA Cup winner’s medal.



    He subsequently had a season-long loan at Bolton Wanderers, while he also had a short spell on loan with Dutch side, FC Twente, before returning to Manchester City.



    And speaking exclusively to Celtic TV after signing for the Scottish Champions, Dedryck said: “It feels really good. Celtic are a very big club and it feels good to be a part of it.



    “The manager came to see me in Manchester and I spoke to him about having me here and all the ideas he had for me playing for the team.



    “So I was very pleased with his plans and from that point I thought that moving to Celtic would be a good idea and we tried to do everything right for me to move here.”



    Everyone at Celtic wishes Dedryck all the best for the next four years as he joins the Scottish champions.



    More reaction from Dedryck Boyata to follow on the official Celtic website.




  15. “On the throne”


    Paul I vaguely recall the suggestion you were in a similar position when the first Rangers went, ahem, down the pan?

  16. “Get used to the Act, police with guns on our streets as a matter of course, and ambitious aims for their authority”



    Whose, Police Scotland or the SNP – or both?




  17. GlassTwoThirdsFull on

    Auldheid/An Tearmann


    (from previous article)


    Don’t forget that on top of the £18m bank debt they had the £4m bill for the wee tax case.

  18. North Cyprus (formerly Baku) Bhoy on

    Reverse Podium!!








    Tell him that he CSC is now housed in the Mexicana restaurant, not too far off Fountains Square. He’ll enjoy watching the games there – the Lhads are great craic! There will probably be a start of season do on sometime in the next few weeks.



    If he can’t find out more for himself, let me know, and I’ll find some contact details for him.



    The Baku Bears are holed up in the Clansman, which moved, a year ago, into the old premises that used to host the CSC when I first joined in 2005.



    He’ll have a great time over there!! Believe me!!!




  19. Auld heid :-)



    good good hope you get a positive response re washington post.



    Hail hail





    have a great day Celts




  20. The Battered Bunnet on

    As for the comedy that is RIFC…



    I can figure out no business plan that works. To get to Paul Murray’s “break even” model, whereby they win the SPFL every other year, and qualify for the Champions League once in every 2 attempts, my fag packet says they need £80M over the next 6 years, with £30M paid down today (Settle current loans, provide 12 months working capital)



    It’s not a business. It’s not even a hobby.



    It’s a monster with an insatiable appetite for cash.



    It can’t be retrained because there is no point at which income exceeds costs without European football, the less so without a full contribution from a mature Retail operation.



    It can’t be killed or else Ashley takes the IP.



    For £30M paid down today, they get the opportunity to play for promotion next season, and the certainty that they will need to pony up another £10-15M in 12 months time.



    And 12 months after that. And after that.



    Looking at it dispassionately, the only logical course of action is to swallow the (so far modest) losses, and walk away. Quickly.



    I’d have phoned the cab by now.

  21. Livibhoy -previous article



    Regarding main players getting turfed.. Carras book says exactly that. Paul ince was the victim.



    Carra said that made him and other players really sit up and take notice and of course knuckle down.



    Regarding charlie and stokes.. I agree with that.. I’d accept whatever bid we get and help free up some wages. Good servants but time is up.

  22. @FACKilltheBill: Public meeting next Wednesday (10th) at 7pm in St Anne’s, Crownpoint Road, Glasgow. Details of speakers on FAC website soon. RT

  23. TBB



    “There is no Diaspora Legacy programme.”



    But but but should the FIFA Vice president have known that? ;)



    I mean in Scotland our SFA President knew about ebts from the word go. Does not seem to have put him under any pressure to explain or suggest he was corrupt.



    Cheers. I’ve read “Foul” by Jennings so as soon as Warner ‘s name came up I knew it would be dirty.



    It’s a bit like Watergate. Start with the burglars and work up to the President.

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