Delighted Aberdeen are now free of their “debt servicing burden” after long-term supporters Willie and Elaine Donald proposed to reduce net debt by an astonishing £14.9m. The club have been able to service their debt but it’s been caught between paying for old overspends and driving ahead with a new stadium to provide for its future.
Aberdeen has a vibrant business and corporate entertainment sector which the club is well-placed to exploit. In the right environment, specifically, playing a regional league with a new stadium, they could be transformed into a European power, as they were back in the day.
Unfortunately, it’s not all rosy positive financial news for Scottish football clubs. Rangers International’s statement to the stock market this morning confirmed that Mike Ashley’s £2m loan will not be enough to see the club through to the end of this month. Ash’ has provided a further £1m, which will take them through to the second week in December – at least!
The statement confirms yet more money will be needed before the end of the year and that the directors have begun a cost cutting exercise. So where does this leave them?
Living week-to-week is fine if you are within sight of season ticket renewal deadline but that’s six months away. The funding requirement to get them to that day is likely to be north of £10m, with Ashley now the only wallet in town.
A great deal of analysis is taking place over his commitment to the SFA that he’ll not acquire more than 10% of the club, but this overlooks all the important factors, specifically that owning more share capital is neither necessary nor helpful to Ashley.
Football clubs are a collection of businesses. There is the football, of course, but there is also a media business (print, online), retail services, brand merchandising, corporate hospitality, there’s advertising space to fill, and with some, there’s a link to a charity, which requires administration.
The charity and football operations cost money but everything else tends to make a profit. Football clubs are horrible entities to manage. You have unrealistic competitive pressures, fans who demand conflicting objectives and your performance can be undermined by a defender’s lapse, before you’re scrutinised in public. Only lunatics would apply.
By contrast, corporate retail management is a walk in the park. Ashley already has a healthy share of Newco’s retail, merchandising and IP rights. He can and will make money out of them, and no one has been able to tell me why he’d be remotely interested in owning an ounce more than Rangers International.
The funding which will get the club through the rest of the season is likely to cost them all those profitable income streams in perpetuity. There’s a good chance security will be required over the property assets too.
Newco is pretty much hollowed-out already but the scavenging isn’t finished. By the time the consequences of all that ‘we will continue to act like a big club’ nonsense of the last two years has comes home to roost, the cost of their hubris will be laid bare to even the most blinkered mind.
All of this was inevitable when Sir David Muray overruled his board’s recommendation and sold out oldco to a liquidation expert.
TIME CHANGE Remember, we’ve got Davie Hay on the blog tomorrow from 9:30 – 11:30.
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bgx,
Get a decent constitution together and you’ll probably find there will be far more yes voters than before.
“The fact they did not have any constitution written and available to view in the two years leading up to referendum should have been a dead give away”
Canamalar,
I think there was a draft constitution published mid June.
Also there would never have been a set in stone constitution had there been a yes win on the 18th Sept.
A final constitution would take years to finalise with the whole Scottish government considered in many parts of it.
Another goal for the Glasgow Burds
3 each on aggregate
neil canamalar lennon hunskelper extrordinaire
20:58 on 12 November, 2014
bgx,
Get a decent constitution together and you’ll probably find there will be far more yes voters than before.
——
Get Winning Captains onto it after the ad.
Simples.
Our own Thomas Jefferson!
HH jamesgang
HT
I’m happy to talk about Celtic.
Is the club now formally opposed to the OFB Act and has the board made this clear to the Govt as part of the review process?
Pfayr
Bored with the referendum and don’t care about the rotten mob.
Jamesgang
Ahhhh the discerning Jobo would make a fabulous agent!!
Canamalar
Old Firm chat? :-)
Noticed some talk yesterday about ‘must keeps’. For me since a bit of a shaky start to the season, not helped by continual changes in front of him, Izzy has been back to his best. There can’t be many ahead of him when writing the team list.
HT
New contracts for
Kayal
Broonie
Commons
Discuss.
Biton
Keep?
Loanees – who do you want?
And any young scots and/or spl players you’d buy?
HH jamesgang
Neilcanamar…..i think the OB should be repealed
..how did you vote?…
hun skelper
your correct in what you say
for me “forward” is the “holy grail” spfl and they are getting there day by day , i had hoped to God that it would never happen , putting my faith in what i was reading on here , hey ho
Ger57
Celtic claim that they’ve always stated their opposition to the OB Act since the early JAG meetings, personally I don’t believe that.
Recently, the club have issued a statement that they’re opposed to it.
HT
So happy to see izzie playing well.
Got a big soft spot for the wee Mhan.
HH jamesgang
Kayal…nnnoooooo :)
jamesgang
20:51 on 12 November, 2014
Agree
Too many misconceptions about the FV
Hover do t like ganging up on posters who make their own opinion & get shot down & then hounded
Anyway…
jamesgang; I’d keep Broonie and Kris, if he’s happy to be a back up player. Would like to see Henderson get a game to see what he could do. Of all SPL players I’d go for Stuart Armstrong
Geordie..,
Well we’ve got years, have they started ?
No one was voting on a draft constitution, drafts can be torn up as soon as power is handed over, there are some very powerful lobbyists and pressure groups who could make demands for their interests be written into any constitution, do you trust the SNP to keep their word, remembering once the yes vote was made there is/was no going back.
In my expert opinion appeasement of the orange order would have been very important to the SNP.
jamesgang
21:03 on 12 November, 2014
HT
New contracts for
Kayal
Broonie
Commons
Discuss.
Biton
Keep?
Loanees – who do you want?
And any young scots and/or spl players you’d buy?
HH jamesgang
———-
I’d give contracts to Brown and Commons but let Kayal go.
I like Biton’s ability to retain possession and his pass success rate must often be above 95% but too frequently it’s sideways or backwards and creates little.
I’ve said I’d like to see him play in a more advanced role and given an opportunity as a creator. Sadly, I don’t think Ronny sees him as mobile enough.
Neil canamar…so with a decent constitution may we rely on your support?
…
I don’t get all the clamour for Biton, he’s done as much as Balde but for whatever reason is preferred I don’t see it, when I’ve seen him play he’s done very little to impress.
He was given the chance with Johansen in the mid field to stake his claim and disappeared.
Evening all
Had the misfortune to listen to listen to Clyde for 24 seconds tonight. “Mike Ashley will be troubled by these onerous contracts”.
Compare and contrast with an absolutely superb article from our host
“Newco is pretty much hollowed-out already but the scavenging isn’t finished. By the time the consequences of all that ‘we will continue to act like a big club’ nonsense of the last two years has comes home to roost, the cost of their hubris will be laid bare to even the most blinkered mind.”
The first sentence sums up perfectly the situation. As a corollary to it – the second sentence is perfectly logical but will ultimately prove to be false.
The “most blinkered minds” will simply never come to understand.
Hail Hail
Really ….people who bring the OO into referendum debates and hoist up the OBA on CELTIC sites are doing themselves and the support a massive dis service….it aint worthy….
HT
As PFAyr pointed out, the Act was a pet project for Salmond and McCaskill, so surely it will be repealed following the review next year, esp if the bigger clubs are against it.
I remember some discussion a while back re the heavy handed “frisking” of fans by security staff at CP. Was JPT asked about this?
Jamesgang
Reading back, I notice you were in my neck of the woods today. Strangely, I had to drive up to Bridge of Allan today, to see one of our customers. Nice wee place.
bgx,
Most definitely, I don’t want to be saddled with paying off city debts anymore than anyone else and those debts are only going to increase, this was a massive opportunity to get out of London’s corrupt shadow but I’m beginning to believe the SNP were not serious else there would have been a far more robust campaign.
Canamalar
Biton’s not a tackler so I think will often appear ineffective when we’re not in possession. The boy can pick a pass so I’d like to see him behind the front men but that’s very unlikely to happen.
praecepta
15:06 on 12 November, 2014
Richie
There’s a need for some ‘original’ thinking:
http://image.wikifoundry.com/image/1/1gPXEXfe-tjDtt_vR4dWeg127549/GW800H429
~~~~~~~~~~++~~~~~~~~~~
Nice pic,Praecepta. Anyone heard recently from SPARKLEGIRL,who is one of the motley crew assembled?
Hamiltontim; I’d rather sign an out and out creative #10 for that role or if we want a back up SJ type player go for Armstrong from Utd
Night Night Timland.
Weefra HH praying to Wee Oscar.
marspapa
21:03 on 12 November, 2014
Haha I wouldn’t believe anything on here mate including from myself HH
well don the sheep
ht,
We’ve got too many lightweights as it is, I’ve read on here people saying he should be used in front of the defence as a holding midfield player but he can’t tackle what the point of him in Scotland, in fact I get shot of everyone who won’t/can’t tackle, jeez even Stokesy gets stuck right in makes some great defensive tackles and still gets dogs abuse, when there are prima donnas out there that are afraid of getting their tights ripped.
….PFayr supports WeeOscar
20:20 on
12 November, 2014
Bgx
“You remind me of a mad Arthur Scargill ranting nonsense in pursuit of an unattainable utopia”
———————————————————————————————————————-
That line should be patented.
……………..assuming it`s original. :-)
hun skelper
;))
Delaney’s
Was hoping you’d have put the kettle on!
Bridge of Allan is lovely, pricey mind.
The ladies love it for its plush stores.
Hopefully next time we’ll not pass like shops in the night!
HH jamesgang
Canamalar
Unfortunately, you are right. Only certain types of players will survive and prosper in the Scottish game. Dig is needed before touch.
Ger57
From what I’ve learned about all of this my conclusion is that the whole thing has been driven by House. Salmond has been used as he was the only person who could facilitate the Act being passed.
Regarding stewarding at Parkhead, new training and an updated review process is currently being put in place mate.
rp67
I’d go with both of your ideas, however, I can’t see us spending the money to get the sort of No10 that we dream of, they’re just not in our price range. Hence why I’d like to see Biton given a shot at it.
Neilcanamar…my thoughts are that the SNP never thought that the YES campaign( note the differance) would get as close as they did….they (SNP) did not imo have enough answers to questions ie currency ….we ..the YES canpaign will get it right next time….and it will not be in a generation….peace…
HT
re Biton
the guy is tidy on the ball , unfortunately he’s like a “Giraffe” as in his stride is’nt quick enough , imo
** LAST MAN STANDING 2**
Another wee reminder to try to get your picks in as early as possible. And a big thanks to the 9 who have already done so.
As soon as we receive everyone’s picks we’ll try to then send out a list to show who we’ve all picked. That might generate a wee bit of interest if you happen to watching any of the games over the weekend. But we can only do this once EVERYONE has made their pick so please, do it now – you know you want to!
A reminder of the games to pick from –
FRIDAY
5PM
Georgia v Poland
7.45PM
Hungary v Finland
Romania v Northern Ireland
Scotland v Ireland
SATURDAY
5PM
Austria v Russia
7.45PM
Macedonia v Slovakia
Montenegro v Sweden
SUNDAY
5PM
Azerbaijan v Norway
7.45PM
Czech Republic v Iceland
Italy v Croatia
Whichever team you choose you must get your pick in before that particular game kicks off. If you don’t make a pick then this week’s default team is one that may feature 2 Celts – the Sunday evening game at 7.45 – ISRAEL who are playing Bosnia-Herzegovina.
When replying it would again help if you include your Moniker. But I’m getting there….
GOOD LUCK!
Jobo cqnpredictor@gmail.com