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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Billybear
Rangers will get money in, King will cough up and when the fans see the colour of his money they`ll chip in to a new share issue.
Delusional.
Philbhoy….
Just read your posts about your wee one. My thoughts are with you and yours. Been there with my wee one years back.
Hang in there….
Ronnie
Burgas Hoops
14:41 on
2 June, 2015
Billybear
Rangers will get money in, King will cough up and when the fans see the colour of his money they`ll chip in to a new share issue.
Delusional.
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We
We`ll see was wwhat I meant to post. I`m going off out now, or aff oot as is the norm on this blog
Bye Kev…
Leftclicktic petition signed away back to catch up
when boyhood fire was in my blood…..
voguepunter
14:28 on
2 June, 2015
leftclicktic
13:20 on
2 June, 2015
https://www.change.org/p/labour-led-glasgow-city-council-hold-gcc-to-account-on-orangefest-the-people-of-glasgow-say-no-more
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Sign this please! hh
The best way to deal with Orange Fest is to ignore it.
As for GCC its hands are tied.
The people of Dumbarton were left with a huge bill to pay when local council tried to ban Apprentice Boy’s March and were taken to court for their trouble.
Philbhoy
Hope all is as well as it can be.
Your family are in my prayers.
God bless
LB
BBC get a good photo of Smiler Boyata.
http://www.bbc.co.uk/sport/0/football/32954918
LB
Paul67
Re the financial tribulations of the plucky cash-strapped Kinning Parkers
You gat the Wolf on this ??
SHEET Timmy – That’s AWW-L you had to SA-YYY!!
PulpFiction CSC
Why would any manager go to the Rangers ? they have no money,no players,no scouts,no infrastructure and a very unknown future.Any interested parties must be really desperate.H.H.
Joe Filippis Haircut
Jimmy Calderwood:))
Afternoon Timland from a hot hun free mountain valley.
Welcome to the best club on the planet Dedryk, hope your stay is a fruitful one.
I see that Mark Warburton and David Weir have held ‘informal’ talks with Rangers, Warburton would be a very good bit of biz for them, he knows the english scene well enough, and did wonders with Brentford, down to Mash I suppose.
HH
Joe Filippis Haircut
Offer people enough cash and they will take any job. There are currently 2 guys earning thousands for doing nothing. I’m sure there are plenty out there who fancy that set up!
LB
starry plough. Yip he fits the profile. H.H.
This OB (Football) Act is a curious creature – sired by the Police Federation out of Rosanna Cunningham. The SNP panicked when they noticed that Celtic supporters weren’t offensive enough to get jailed so they changed the Bill to include Inoffensive (Celtic Supporters) Behaviour.
Joe Filippis Haircut
15:06 on
2 June, 2015
Why would any manager go to the Rangers ? they have no money,no players,no scouts,no infrastructure and a very unknown future.Any interested parties must be really desperate.H.H.
Because football management is an ego trip on which people believe the and they alone can work miracles. And they sometimes do.
‘Warburton is checking the chemistry of Rangers’
99.999% hydrogen sulphide,I think.
Dbbia/periodic table Csc
Livibhoy. Surely they will only pay the going rate for a manager this time and not the silly money they paid Fat Ally ? H.H.
Aw Billybear left before I got a chance to join in with the bread puns.
I’m doing them anyway:
Once McCall gets baguette, no manager will want that job. They have no dough and some of these bears need a dosa reality. What’s smore(brod) a lot of their current squad will be scone this summer. What a pita.
Anyway, I’ll stop, these are getting crepe…
Anybody know if DK has got anywhere with persuading Sally to due his duty by the club?
That shoulda been “Once McCall gets bag(uett)ed”
Ruined! It’s ruined!
Dontbrattbakkinanger
15:11 on
2 June, 2015
‘Warburton is checking the chemistry of Rangers’
99.999% hydrogen sulphide,I think.
Dbbia/periodic table Csc
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A natural gas that will burn their ass and blow them all to hell?
Davidopoulos
Overcooked
Aye, too many buns for one post…
Im going to resist joining in the bread puns with very bit of fibre in my body!…………………………..hold on wait a minute
quonno
15:13 on
2 June, 2015
Anybody know if DK has got anywhere with persuading Sally to due his duty by the club?
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Maybe Kingo needs to send the “greenock” brothers to er have a word….
If he takes the job Warburton may discover that somewhere along the way, he will become well fired.
johann murdoch
15:18 on
2 June, 2015
Im going to resist joining in the bread puns with very bit of fibre in my body!…………………………..hold on wait a minute
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You’ve taken that a bit farl…
Where does Warburton stand on the CQN cheese-on-toast debate, I wonder?
johann murdoch
15:20 on
2 June, 2015
quonno
15:13 on
2 June, 2015
Anybody know if DK has got anywhere with persuading Sally to due his duty by the club?
————-
Maybe Kingo needs to send the “greenock” brothers to er have a word….
If they wait too long Sally will have a bus pass and be off the hook.
Davidopoulos
15:21 on
2 June, 2015
johann murdoch
15:18 on
2 June, 2015
Im going to resist joining in the bread puns with very bit of fibre in my body!…………………………..hold on wait a minute
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You’ve taken that a bit farl…
Soda what!
Haud oan, yeast a minute, you are taken the rise oot the man and he’s no even in the Ibrox oven yet…
RWE<
You "On the Road Again" :<)
Matthew 3:12
quonno
Soda what!
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Wrap it! ;)
Joe Filippis Haircut
Hope no.
I see Hibs have made another signing this time from QoTS. Looks like Stubbsy is getting himself sorted early this pre-season.
LB