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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Welcome to Paradise, attaboy ….. :)
philbhoy
Just been playing catch-up, and read your earlier post. That must’ve been a couple of weeks of torture for you all, delighted to hear the news is good. Wish Olivia all the best of health for the future from all of us on here.
HH
Time for some choons –
Bun Jovi .
The Roll n Scones.
Bread Zeppelin
Grateful Bread.
South Of Tunis
No chaPati Smith?
While at Enfield, Warburton became a trader in London and also worked in the United States. Looking back in 2014 on his time in the City, he said “I was a currency dealer for the likes of Bank of America, AIG and RBS. I was getting up at 4:32 for 20-odd years, leave the house at 4:52, get the 5:02 train into Liverpool Street, at my desk at 5:45, getting home at 7 pm and take phone calls through the night, orders from New York City. I was well paid, good at what I did. There was a lot of risk, a lot of pressure. My personal turnover would be £1.5 billion to £2 billion a day”. Warburton cites parallels between trading and football management, including teamwork, communication, competition and man management.
This guy ticks a lot of boxes for their board. Why talk millions when you can talk billions?
Maybe they think that he is either actually is a billionaire or more likely he has contacts who would invest.
Decent manager? No sure. Didn;t see much of his team in action.
The signing of the wunderkid from Ibrox last season on paper looks like a Ranjurs bail out signing to help them tick over.
LB
Let’s face it, we are in a pub league, in a toilet of bigotry little country – but there is no doubt that the overall strategy is working at Celtic.
We will always lose our top players to the EPL, or some other money-laden league – however if we play the right way, develop them and assure them of our CL aspirations, more will come and we will be ‘quoted’ in European football’s upper echelons.
Foster, Wanyama, Ki, Denayer, Virgil, and now Boyata – will the malcontents and Lawwell/Board-Haters ever ‘get it’?
RIP Charlie Kennedy
o.g.rafferty
15:22 on 2 June, 2015
He’ s toasted….
Mr Pastry
Short crust or Puff??
mr pastry
15:38 on 2 June, 2015
Absolutely…!!
starry plough
15:42 on
2 June, 2015
Mr Pastry
Short crust or Puff??
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How can you ask a fine filo like him a question like that?
Paul67,
I am still of the mind that DK was secretly wishing for a ‘Not fit and proper’ judgement.
That would have given him the perfect ‘way out’
There is absolutely no chance that him & Murray are happy in their new roles as custodians at The Rangers.
I still maintain that he has not got the finances to see this through.
Season book money can’t come quick enough.
Davidopoulos
Choux.r-ly a valid point:)
starry plough
15:46 on
2 June, 2015
Davidopoulos
Choux.r-ly a valid point:)
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Eclairly
Have to laugh at the photo of Boyata in front of the trophy cabinet. He looks more terrified than gutted.
They all laughed when Lennon did the same at Everton. He’s been brilliant for them. Let’s hope its a good sign!
Boyata is an anagram of Ataboy
I was about to say I’d had my fill of the bread puns. But I’m a gluten for punishment….so keep delivering!
Ha ha ha HA HA HA ha ha ah ah ahah
HA HA HA HA HA HA AH AH AHA HA
It’s as Plain as the eye can see Hovis this is going to Pan oot.
Morton will get roll-ed by my sour dough dough club.
The Underscones
Stiff Little Fingerrolls
Looking for some T-shirts for hols …..thought this was a cracker :O)
http://rhebelrhebel.spreadshirt.co.uk/state-aid-csc-A100197448/customize/color/1
NatKnow
16:01 on
2 June, 2015
I was about to say I’d had my fill of the bread puns. But I’m a gluten for punishment….so keep delivering!
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Some of them have been roti-n
..and another.
http://rhebelrhebel.spreadshirt.co.uk/submarine-sunday-A102526762/customize/color/92
Warburton?
Well half a loaf is better than no loaf at all….and they have no loaves at all.
Árd Macha
Choose your seat
Another advantage of appointing Warburton is that he actually knows who ate all the pies.
Árd Macha
This debate about how many season tkts sold
Get the EK weatherman on it he will count them and tell
us exactly how many available.
Philbhoy
That Olivia is keeping upbeat is a testament to how her family are reacting around her obviously giving her all the encouragement and belief she needs, well done them.
Given family history its good to be cautious even if the tumors are non-malignat
Post again closer to her op date and I’ll light a candle for her
HH
bournesouprecipe
16:06 on
2 June, 2015
Choose your seat
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Oh goody….noticed the 4 ghuys next to me are away…on their phones / hooka pipes/ juice cartons awe fekn gemme ,didn’t quite catch them looking at park.
philbhoy
Just catching up and I saw your post. You all will be in our thoughts and prayers. Take care and God bless.
Skippy not offered a new deal at Motherwell.
LB
Bread puns, is it.
Bit cliquey and cake-ist in my opinion.
As Mr Stein himself said: “Football without the flans is nothing.”
Welcome Dedryck Boyata to Scotlands champions:-)
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Philbhoy,my thoughts and prayers are with your family
She was only the bakers daughter but she needed the dough…
Kikinthenakas
Philbhoy
Thoughts and prayers with you and your family.
Scott leitch is a sevconian. Seen him a couple of weeks ago at ibrox subway after the Huns game. Watched the game in the dam and haven’t laughed so much in my life.
Sorry I’m out don’t have time to read back, anybody posted that Warburton kneads the dough?
VP
I hate that, we had a guy we called Simon the pieman.
Signing number 2?
http://www.insidefutbol.com/2015/06/02/celtic-put-finishing-touches-to-bid-for-malmo-defender/212041/
Philbhoy
Thoughts with you and yours.