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.
675 Comments- Pages:
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Greenpinata
10:03 on 3 June, 2015
My friends in Celtic,
I agree totally with the ideals of the petition.
However the wording should read “the people of Glasgow and Scotland are sick of their voices going unheard in relation to sectarian hate filled orange marches. We call on the Scotish government and particularly Nicola Sturgeon to use her powers and overwhelming mandate to take appropriate action and ban this so called orange fest from all our towns and cities with immediate effect ”
HH.
………………………………………………
words outa ma mouth….cept I had a few sweary words ;-))
Am reading the blog backwards today….last is the new first ;-))
H.H.
Henke
I’ve noticed that and also that they always have buttons missing from their shirts on account of their massive bellies.
Must be coz they’re eating too many sprouts!!
BGX
09:32 on
3 June, 2015
My son is 13,last week he and three of his pals,all around the same age went in Glasgow city centre,went to mcdonalds,had a walk around the shops,did what normal teenage boys do.He’s been told by me it wont be happening this weekend and told why.No arguement from him,and That is why I signed the Petition and was happy to do so,nothing political or secterian,,,just normal eveyday life disrupted by a moronic descision made by morons for morons…
I merely quoted the experience of West Dunbartonshire Council.
As for those disaffected by the Civic Reception. Use the ballot box and make it plain to them why.
Re OrangeFest petition i am apolitical and only asked that you consider signing.
https://www.change.org/p/labour-led-glasgow-city-council-hold-gcc-to-account-on-orangefest-the-people-of-glasgow-say-no-more?recruiter=195910731&utm_campaign=signature_receipt_twitter_dialog&utm_medium=twitter&utm_source=share_petition
It’s on fire with 16,600 now signed!
Coulson acquitted.
Once again a well educated, highly articulate with friends in high places, ‘knew nuttin’.
BBC Scotland News@BBCScotlandNews·14m14 minutes ago
BREAKING: Andy Coulson cleared of perjury as trial collapses http://bbc.in/1EUZqnV
as predicted by many.
Andy Coulson perjury case dismissed.
In a written decision Judge Lord Bryson declared that Coulson was not known to be involved in hacking at the time ofSheridan trial and so now that we do know now then no sporting advantage was gained.
Olivia and Philbhoy
09:36 on
3 June, 2015
Thoughts and prayers from me and mine in Wintry Sydney,Oz.
Any word on Danny Wilson?
Philbhoy,
I don’t normally pray….but know firsthand all about family breast cancer…..Olivia (great news) will be in some prayers ’cause it’s gonna be a long road for, not just her, but you all
H.H.
YNWA
timaloy29
10:34 on
3 June, 2015
Any word on Danny Wilson?
==================================
I hope not, he makes Gary Caldwell look like Maldini. Passes the ball more to the crowd than a rugby full back.
Does Judge Bryson live next door to our old pal Nimmo Smith?
Richie #TeamOscarForever
10:13 on
3 June, 2015
…and don’t forget that monstrosity of a statue of the evil King Billy (not Cesar) which was erected on our high street in the eighties.
—————————————–
Richie ,that statue was sited at the trongate for over a HUNdred years before moving
up High st, just glad they didn’t put it ootside Bar67.
http://www.eveningtimes.co.uk/your-glasgow/statues2
Wee article on other Glasgow statues.
Macjay good to see you back on giving it yaldy your way. I think a few of the old night shift are more lurking that howling these days. See what happens when you have a great wee left back. Have a good one mate.
Olivia and philbhoy
Very best wishes to you both.
One of my grannies was called Lívia. I think the registrar forgot the ‘O’ when he wrote the name down in the book.
Btw she was born in 1887, the same year Celtic was founded.
HH!!
The Coulson thing. It’s not enough to prove he lied on oath. That’s just the first bit. You have to show that the lie affected the outcome of the case.It seems there was insufficient evidence of that bit.
Ho hum.
kevjungle @ 10:13,
“To cut a long story short….’all’ the national media are going bananas about Blatter but….closer to home….the ‘entire’ David Murray era should have been placed under tooth-comb-forensic-investigation…SFA/Rangers FC….the only way that all of this would have come about would have been if….Celtic FC had an – uppity-Tim – on the board who would have, sank Celtic FC’s teeth into the cheeks of the erse of the Scottish footballing establishment….”
Well I’ve got to agree with that in the main, a forensic investigation is well overdue. The establishment in Scotland have not so much ignored the Elephant in the room as the stampede of wildebeest.
But I see no reason why Celtic should get involved. If we do it’s an Celtic Rangers thing, the establishment and SMSM will portray it as an old firm spat, they’ve been dying to do it for years now. Celtic haven’t given them the ammo.
Remember we were dragged to a Government Summit after the shame game – what did we do? Our Manager lost his temper (while being provoked). That’s all, and do you know, one was as bad as the other, eh!
If you fight with a Coalman you get dirty.
We are tolerated (well among the more tolerant) in Scotland as long as we don’t cross the line.
It’s like the new Miss Japan, the Japanese are an open, educated people who enjoy and end embrace most countries, yet when you have a biracial representing Japan, that’s a different story all together.
We must be careful not to abuse our “Haafu” status.
Just-a-thot – Have a great one.
Hail Hail
Big Nan
10:27 on 3 June, 2015
If the Cooncil refused permission and were sued and lost who pays the lawyers?
You and your fellow petitioners or the people of Glasgow?
Olivia and Philbhoy –
All the best – I’ll keep you in my thoughts and prayers.
burghbhoy
10:42 on 3 June, 2015
Does Judge Bryson live next door to our old pal Nimmo Smith?
;;;;;;;;;;
My use of ‘Bryson’ was a mild attempt at humour.
His correct name is Burns.
Iki
:-)
Re the Andy Coulon case- I never knew that it was OK to lie on oath – so long as the lie isn’t about the primary purpose of the trial. I thought a lie was a lie, and a lie in court was perfjury – every day’s an education.
What about the truth, the whole truth and nothing but the truth?
Looks like Police Scotland and the Scottish
Prosecution suits are in need of some basic training re Perjury.
new article posted.
chairbhoy
09:58 on 3 June, 2015
Makes one wonder why the investigations carried out so far into Ipoxgate have been so hush, hush …. a lot of the corruption has been uncovered, but looks as though it has then been covered up before it got out to the public domain……?
If you’re a morally upstanding citizen then you won’t lie under oath but you can obfuscate ;-))
FIFAFTSFALNSCSC
H.H.
Chairbhoy
10:51 on 3 June, 2015
__________________
Thanks for the response fella – Hail Hail
The gist…..we should just – fall into line or, sit at the back of the bus with our muzzles on?
With respect…..nahhhh.
Disny work for me.
Why pay what, a CEO £1million in bonuses…near enough the same in salary when, he’s incapable of making/taking an executive decision?
This goes back to when, Celtic fans thought that we had been re-born under Fergus.
Disillusionment….is the watch-word.
Fergus knew within weeks of taking over that, the ‘fix’ was in when, the SFA made him pay a kings ransom to hire Hampdump for a year?
Why did Fergus not tell the Celtic fans that…we’re being screwed over here and, we wont be giving almost a £million to an, anti-Celtic football association instead…we’re going to FIFA to request a year of absence from the game to allow us to re-build CP and, explain what is going on at the SFA?
Why, did Fergus wait until his going away money was in the bank….before taking out Farry?
Is this the reason why, Brian Dempsey and, Eddie Keane who had placed £6 million in the Bank Of Ireland to be forwarded to Celtic FC…renaged on their input as, Fergus wasn’t up for the fight?
Or, did BD and, EK withold their input coz…they didn’t agree with the choice of the manager that Fergus had lined up?
You see,….imho…..Wim Jansen and, Martin O’Neill apart….Celtic FC have been a ‘house of cards’ since the Kelly’s & White’s were ousted….the fans put all the money in then…remain outside….placing their faith in a bunch of custodians who need the stadium to be, half-empty before they’ll comment on the criminalising of Celtic supporters….the same, Celtic supporters who the custodians, joined in with the SMSM and blamed these supporters for ‘mythical’ events?
Ma heids sore already…..you take care.
…..oot.YNWA.
voguepunter
10:43 on
3 June, 2015
Richie #TeamOscarForever
10:13 on
3 June, 2015
…and don’t forget that monstrosity of a statue of the evil King Billy (not Cesar) which was erected on our high street in the eighties.
—————————————–
Richie ,that statue was sited at the trongate for over a HUNdred years before moving
up High st, just glad they didn’t put it ootside Bar67.
Can’t remember it down there. It has certainly had some kind of facelift!