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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Bob Doughlan?
Philbhoy, read your post about your daughters op. Great news that she will be over it soon. It’s not good being a parent and worrying about your kid’s health.
Voguepunter, signed your anti hatefest petition. It’s disgusting that these cretins are still allowed to bring their outdated bigotry onto the streets of our largest city in the 21st century.
Atabhoy, Atabhoy, Atabhoy………………………..Boyata. If he’s anywhere near as fine a footballer as young Jason he’ll do for me.
Billybear, what’s your moniker on hunmedia?
Hail Hail
Charles Kennedy Rip,
a sound MP,stuck to his guns against the liar Blair,was proved correct against the war criminal.
a sound Scot.
liked a dram,who doesnt.
got each shinty up a boost so they could claim the gift aid even tho they were sports clubs.
rest in peace
Last word rom me on Scott Leitch.
http://www.motherwellfc.co.uk/2013/11/05/scott-leitch-makes-fir-park-return/
After following McGhee to Pittodrie for a spell at Aberdeen, he most recently worked with another former Motherwell Head of Youth, Chris McCart, at Celtic’s Elite Academy.
Worked for Celtic.
Leitch was given the job by his friend Neil Lennon who I believe he has known since Lennon was on trial at Motherwell many years ago and stayed with the Leitch family.
Neil then gave Leitch a job at Celtic working for the Youths and only left when the head of youth job came up at Motherwell which is the club he has supported all his life and his two sons play for.
Leitch has supported, played for and coached Motherwell.
Last time I defend the guy.
LB
When you read some of the informed opinion on the prognosis for the Ibrox Venture, it strikes me that there is no legitimate way the operation can succeed.
If that is the case, then it may follow(x2), that illegitimate methods may be adopted.
This could involve unaccounted sums of money coming in from unaccountable sources and passing out again, smelling of Spring flowers.
How beneficial would it be to have someone on Board who understands money markets and may have contacts in that area.
Football management ability would be an added bonus.
should be- each shinty club a boost :-)
enjoy your evening Celts
HH
ACGR
Wasn’t my petition mhate,big Lefty posted first.
Just in case any zombies come to my door,not up to date on latest ‘Walking Dead’
to fight thems off. :O)
Warburton would be an ideal manager at Ibrox given that Rangers are brown bread…
As it’s Fathers Day on 21st June we have a wee promotion starting today on http://www.cqnbookstore.com
So if it’s for your old man or if it is useful for your own hinting purposes(!!) we have a signed copy of Caesar & Thr Assassin (around 50 left then that’s it!), a Cesar DVD and a wee surprise refreshment that all those who recently contributed to TBJ’s tribute to CQNers no longer here, will know about.
There are other books and DVDs to choose from at http://www.cqnbookstore.com
Caesar & The Assassin covers Billy McNeiil’s two spells as Celtic manager and Davie Hay’s turn in the hot seat in between.
We are working on the follow up book which starts with Liam Brady becoming Celtic boss in 1991 and runs through to MON leaving after Black Sunday in 2004.
Incredible highs and lows in this book which is titled Winds of Change and will be out in late October.
thomthethim for Oscar OK
16:46 on
2 June, 2015
This could involve unaccounted sums of money coming in from unaccountable sources and passing out again, smelling of Spring flowers.
===================================
You’ve lost me there. How can it pass in and then out again. They are burning money at a horrendous rate. As soon as money passes in it going out to pay onerous contracts, wages , keeping the lights on.
I wouldn’t be trying to launder money thru Sevco. You would never see it again!
New Zealand beat England by 199 runs. Series ends all square.
Fair whetted my appetite for a wee jaunt to London / The Oval in August .Australia will fancy their chances against an England that is very slapdash at fielding and doesn’t have a spinner worthy of the role.
Aff oot to the beach for a dip and a Mohito.
VP, roger that.
Lefty, I signed your petition anaw.
These tiresome bread jokes are getting a bit stale.
Could Pukki be used in the deal for the Swede?
LB
LiviBhoy
16:20 on
2 June, 2015
Skippy not offered a new deal at Motherwell.
LB
================
Get in there Stubbsy…
HH
Philbhoy….stressy times….hope everything goes braw for Olivia and her nearest and dearest fans…..
braw
traditionalist88
Said that to a few Hibees I know and they rubbished him. Said they have the players they need there now.
They need experience and leaders. They also need winners.
Skippy was quoted as going to Wigan last weekend.
I was never a huge fan of his but was impressed in the play offs. matured into a very useful player alongside younger guys. Seemed to moan less than I remembered.
LB
I think there’s a case to be made that Sevco are in a worse position now than they were in August 2012.
At that time they had choices. Now they don’t.
Neither do they have:
Any Money
A Manager
A Coaching staff
A First Team squad
A Retail Business
Ownership of their IP
A Stock Market Listing
Unencumbered property
Self-respect
Much Hope
The do though have:
A Loss Making Business
c£10M of Debt
A place in the Championship
2 ex Managers on Gardening Leave
2 ex Directors on Gardening Leave
One Glib and Shameless Liar
A Surfeit of Onerous Contracts
A Heap of Humiliation
They may or may not have a Scooby what to do.
They need:
£20M now
Another £10M within 12 months
Then another £10M after that
And another after that
Champions League Football
Rid of Ashley
Some humility
Their heads examined
But above all, what they need, what I’m expecting to read about imminently is….
…A Monorail link to a brand, spanking new Hover Dome Stadium.
Celtic getting business done early.
Hats off to big Pita.
Petition signed Leftclicktic
HH
traditionalist88
17:05 on
2 June, 2015
LiviBhoy
16:20 on
2 June, 2015
Skippy not offered a new deal at Motherwell.
LB
================
Get in there Stubbsy…
HH
good shout
HH
Livibhoy – if Hibs already have the plYers they need then why did they fail against the worst Hun team in living memory? I agree with you – they need leadership. Not a new problem for them – seems part of their DNA.
One more nothing to see here FIFA Press Conference has commenced .This one will explain how a check made out to person x is actually a check for person y .
The Battered Bunnet
17:08 on
2 June, 2015
Play the game.
THEY still have Honour and Dignity.
A couple of hundred sloped creditors will attest to this big time.
Celtic Aberdeen and Rangers are the only three Scottish clubs always to have played in the top division.
leftclicktic
13:20 on 2 June….
Petition signed and when the kids get in they will sign it and put it on their FB. HH
geordie munro
17:11 on 2 June, 2015
Celtic getting business done early.
Hats off to big Pita.
————————
:-))
Driving for show, putting for dough!!
In the hole!!
BSR…
HaHa…I nearly fell for that…clever :))
TBB, on your “they do have list” you forgot to mention tens of thousands of deluded fools as supporters, hundreds of which are prepared to raise a couple of grand between them.
Not sure if that belongs in the plus or minus category:_)
Warburton is it??????/
…well, they are “brown-bread” after-all!
Philbhoy
.
Cyber hug for olivia /
LiviBhoy
Agree, Scott McDonald won’t hang about long without a contract at a decent club.
He’s a high earner that Motherwell could only afford very short term in which he showed his class.
Will get a good club.
\o/
http://www.philmacgiollabhain.ie/re-calibrating-reality-for-the-people/ por cierto
BSR
nicking that !!
a ceiler gonof rust
17:17 on 2 June, 2015
TBB, on your “they do have list” you forgot to mention tens of thousands of deluded fools as supporters, hundreds of which are prepared to raise a couple of grand between them.
Not sure if that belongs in the plus or minus category:_)
——————————
Wonder if the Rangers Fans Fighting Fund will be used now following r bevvy and chibs. Or maybe that’s always been the intended purpose?
:-/
Just seen or new bhoy on sky what a lump of a bhoy. Nobody will be taken the rise out of him.
LiviBhoy
Totally agree – still got the eye for goal, scored a few for a poor Motherwell side and would thrive in a team challenging near the top of the Championship.
They’d be mad not to want him,
Cheers dena:)
HH
Went to hospital app today with bowel doc, told him I had to rush home to get blood results from docs for gout test, he just smiled click,click,click,Nahhhh you have not got gout your bloods are all good,
Ach I will just have to go to casualty and sit for 4 hrs for an xray then,”give me a look at your foot” he said ” if you want to sit for 4hrs on you go but it looks like you may have broken a small bone on top of your foot, they wont reset that and it cant be taped to another toe”
Whit dae ye suggest then doc says I.
“it’s up to you but i would just take some painkillers and wear a bigger shoe till the pain goes away”
Wish I had thought of that 2 wks ago :)))))))).