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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Neustadt-Braw
He was all over the magazine this weekend here, Sepp’s secret, Sepps in love again, Sepp’s new girlfriend etc etc, not a word about FIFA or corruption, a real PR drive, hasn’t worked obviously, you can only fool people so many times, even The Swiss.))
…apparently Gordon Smith has thrown his * cough*………..”hat”
in the ring.
Ye read it here first!
Sevco lurkers – please accept this as a caring moment of outreach- you are fupped from a height- you don’t stand a chance of survival- your team is shockingly poor – you are being fed lies by middle aged tossers who run your shambles and by pish poor journos- the outlook is apocalyptic at best.
Ahhh rant over
Tlwo@18.14
I would love him to stay. His comedic value to us was priceless. Have we not suffered enough O my aching sides.
Sepp Blatter = Dead man Walking.
Bankiebhoy
Could have been worse- could have thrown his ring in the hat…
ImagestoConjureWithCSC
je ne’suis pas TOBLERoNE
Gearoid 1998
He was priceless.
Well perhaps not exactly but well worth his reputed 10k a week.
Yes – you did read that right…
hh
PhilBhoy, in my thoughts mhate.
Tobleronees tobleronees ole ole ole.
Blatter on gardening leave soon.
I watch Brentford quite a bit and both like and rate Mark Warburton.
I have suspected for a while that he might have ended up at The Rangers if they had been promoted.
He is exactly what they need – big question is – given their current situation, are they what he needs?
I think he would want his head looking at – but stranger things…
TLWIO…….
Touche / Toupe / Tupe !
:)
Next FIFA President.
Peter Lawwell?!
How naw?!
HH!!
Tlwo
10k a week. Yer havin a giraffe. Right I’m away to polish my boots. Couldn’t do any worse.
HH
i’vehadtochangemyname
18:29 on 2 June, 2015
Sevco lurkers – please accept this as a caring moment of outreach- you are fupped from a height- you don’t stand a chance of survival- your team is shockingly poor – you are being fed lies by middle aged tossers who run your shambles and by pish poor journos- the outlook is apocalyptic at best.
———————————————–
Crazy talk mhate, all is well at Ibrox, the mighty King is about to through oodles of cash their way, because he is a real Rangers man, not for business reason, or because he is willing to play a long game and build a new club in the right way, oh no, he is a Rangers man and will give his own money to the club, not as an investment, just a wee gift, don’t tell the taxman though!
I’m pretty sure the GaSL won’t.
(Don’t alert them to what is coming, they might organise themselves and do something about it, or maybe not)
Philbhoy.
Sorry to hear about Olivia.
Positive is that it was caught early and hopefully all goes well for her from now on.
Must have been a worry for you and Mrs Phil.
Stay strong mhhate prayers said for olivia and your good selves.
dena29
12:59 on 2 June, 2015
Thanks, I did see it didn’t have chance to reply as still working just trying to read through now
Philbhoy
Sorry to hear your news. Be strong for your family and young Olivia.
Road to recovery beckons unlike HMS Sevco.
HH
CRC
jungle jim hot smoked
12:59 on 2 June, 2015
Thanks I appreciate the tip
eireann
18:47 on
2 June, 2015
dena29
12:59 on 2 June, 2015
Thanks, I did see it didn’t have chance to reply as still working just trying to read through now
No problem……… but any seat a paradise would be a good one :-))
HH
Cue ole Sepp suddenly feeling not so well and developing “amnesia”
Cathedral View 18:09
:-)
A Ceiler Gonof Rust
16:43 on
2 June, 2015
Billybear, what’s your moniker on hunmedia?
———————————
2 things. 1/ That would be telling
2/ Different monikers on different forums.
You want to look me up to see if i`m full of bile? Well I`m not
Starry Plough……….I even the Swiss …..now there is a land with multiple personality,s…..not even the Swiss know what a Swizz is !
they only know they should stay quiet aboot them…..
………………………………………………..
what has been of more concern to me is why both ties were refereed almost averagely well! now that should tell a story ,Sevco are truly in purgatory…and no one is saying mass…hahahahaha
braw
Blatter – whoever
Whatever.
The powers that be still want the champions league final to be Real vs Milan.
That’s the corruption
That’s the real issue.
Bournesouprecipe.
Thanks for the info.
TBB
You asked last week about a business plan for Sevco that makes commercial sense.
There isn’t one .
There are various scenarios.
Administration then the road to liquidation could be options.
I don’t think either are in Kings plans.
King has stated ( I know ) that he will personally foot 50% of the monies required to fund the gap between them and us.
My guess is that £60 million is now required .he initially thought £30m.
I think that along with the 3 bears he is scrambling around trying to find 1/2 a dozen investors who are prepared to set fire to up to £5m each.
I suspect King was willing to throw circa £15 million of his own funds at them.
He now has a problem ,he needs to through even more of his own personal funds and convince others to do likewise.
Time will tell if there are 10 bears instead of 3.
Unless this is done they will live in our shadows for quite a few years.
However ,if they can do it.
They will outspend us ,because the good ship Celtica will not deviate from it’s steady as you go course of direction.
TT
Had a surfeit of Hun stuff since Sunday. Suddenly felt a bit grubby.
To get grounded again I have just watched The Billy McNeill Story again on YouTube.
One hour 26 minutes, can highly recommend it. Superb.
What a man. What a hero. He is the embodiment of dignity.
My sis still goes dewy-eyed, gooey and weak-kneed about the time he held the door of the Bank of Scotland in Queen St Glasgow open for her in 1968. She is now 65.
TBB
I also forgot to add that he will also go back to the fans yet again for another share issue,to try and fund any gap.
TT
leftclicktic
17:29 on 2 June, 2015
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 :)))))))).
———-
And he was able to ascertain all this simply by popping a rubber-gloved index finger up yer jacksie.
Remarkable.
HH jamesgang
Anyone listening to Shortbread earlier ? Did Dick Wilson just say that the huns will win the league next year as they have the most resources ?!?? Tell me I heard that wrong…
Petition signed.
Philbhoy. A wee prayer said for you and your princesses.
HH JamesGang
Richard Wilson on Shortbread DESPERATE to find something negative to say about our new signing. HUNbelievable!
Richard Wilson’s countenance was a joy to behold on Sportscene on Sunday night before the highlights even began.
HH Jamesgang
NatKnow
not at all Hunbelievable he as I have said before one hurting Sevconion
HH
Blatter is compromised – he is the Saddam, Gaddafi, Milosevic of the football world.
People like these have to be physically removed, they don’t do ‘walking away’.
The Yanks have told Blatter/FIFA that bodies are now being exhumed, skeletons taken out of cupboards and guns will be held to heads.
Only his advanced age may save Blatter from being ‘hooked’ over to the States.
Doncaster and Reagan will hang on till the bitter end, because they have nowhere to go – we have nobody with the balls of the Yanks to take them on.
Hearing Richard (Dick) Wilson being super disparaging to Boyata on Shortarse.
My 17 year old daughter has just stated that she wished she had been born in the 1960’s.
I was born in 1963.
I wish I had been born in 1947.
Aged 20 when Celtic won the European Cup.
With all those years of the 9 in a row to follow.
Elvis ,The Beatles,Rock n Roll,Mods,Tamla Motown.all breaking ground.
It would have been magical.
Maybe some on CQN CAN TELL US HOW IT WAS TO BE AGED circa 20 in 1967?
Also tell us of some of their joyous experiences of life being a Tim then.
TT