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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GM
Try to get my Fife bhoy to post. He is a CQN corner regular pre match, and been to a BMCUW Hootenanny. But he is shy of posting here. :)
petec
00:10 on 13 November, 2014
Nightmares nah? not personally. Not even the nightmare of boxing , fitba and other sports becoming WWE which is whats happening. The Old Firm for example is a WWE instailment.
Dont believe anyone who tells you its not Glasgow Rangers who play at Ibrox!
Kojo
23:53 on 12 November, 2014
Petec..
Afore Ah go oot the Door… Ah must GIe ye a Reply, tae that Pal..
First.. Thanks fur Reading..
You n Ah are oan the Same..CLOUD..
Is it Seven or Nine?… Ah always get them Mixed up!
Nae Matter.. but,it sure is a Happy Place.
N..
Ye ur Right.. Aboot Sir Paul.. n.. his Headers.
Celtic, Talk…tae me .. is..well…. Everything… Awe the Rest of the Stuff is
well.. STUFFING.
Sir Paul, knows that, well..
but..
Ah mak allowances fur Him.. fur he his a Deadline Line tae Fill..
N.. If Is Very Difficult tae Come up wi.. Different Talking Points..
But.. Ah hiv hid the Rangers Talking Points… Up tae Here n Here n Yep…
Here .Tae!
Anywey.. We ur Awfy Hard tae Please..urn’t We?
Ah Guess So..
Ach..oan second Thoughts..
Let Sir Paul.. Dae Whit he is Daein… fur..
He diz a Hellava Good Joab…
Nice Chatting Pal.. as Always..’
Kojo
Still Laughin…
Goodnight, Vienna!
___________________________________________
Thanks for the reply as well olde chap.
The bytes show’s with the Collins Brothers kinda explained so much.
It is inevitable.
It is very annoying but what can anyone do?
;))
DD,
I’ll keep the bar nice and low for him:))
BGX
00:16 on 13 November, 2014
Auldheid is above ya?
So you havent even attempted the regular BRTH treatises?
I once responded to a BRTH submission without doing my homework.
Wont happen again No sireee Bob!
My citation nomenclature was not standard.
been struggling and avoiding them ever since.
I think it has something to do with my Catholic education.
He scored 2 v Dundee Utd and not really featured since.
If the huns die before the January transfer window no one will be more disappointed than the Celtic “Bored”……. or will they be?
GM
He is a twitter kid. He doesn’t like the spread format of CQN. Whatever spread format means? :)
To infiltrate and dominate or to kow-tow that is the question.
To participate in a more noble vision or to legitimize their established corruption?
To contribute in a meaningful way or to bring Campbell his tea and kit kats.
To get a piece of the hun pension plan or just insider information for the donut.
Tim will tell. No he wont.
Margaret mc gill…first of i ment CORKCELT…(sorry)…2nd…nomenclature…eh….St Cuthberts then St Augustines was my limit…but YES..Auldheid and BRTH THey guys do some great work ..but do take some reading…bless to them…and YES i do agree with what i take to be your opinion , that the CFC board are complicit in the survival of the Hun….all about the money…wrong in my opinion..
.
spread format has 3 meanings
a PDF document idiosyncracy
a UK betting misconception
the way a farmer dumps last years cow shit on his fields
format spread leads to mathematics.
Dont go there. See BRTH.
BGX
00:30 on 13 November, 2014
ok youre #4 :)
Mags
What does my son mean about CQN?
He is a Mathematician.
Well – I typed a whole load of tripe.
It disappeared, quite annoying, as I’m up early but hey, thems the breaks, or the controls.
God, I T|-|/\|\||< Ɣ()|_|
Margaret mc gill….dont know what that means…..it dont involve goats or funny handshakes …coz if it does im declaring myself NO….ouch…
Delaneys Dunky
00:34 on 13 November, 2014
Tell your son that Cauchy-Riemann is God. He already knows that. Maybe he could teach you a few things. :)
Mags
Will do. Thanks. He educates me on a daily basis. For which, I am grateful.
Radio 2CH in Sydney.
Bob Rogers discussing Rod Stewart and his affection for Glasgow Keltic.
Naturally we phoned in with the correct pronunciation.
Five mins later,Bob`s back on saying that a number of Celtic supporters have phoned in etc.etc.
What are we like…………:-)
Margaret McGill
23:44 on
12 November, 2014
What is fleagle betting?
Memo to self
Don’t Google anything mentioned by Mags.
(Got as far as holomorphic and gave up…)
Bobby
Acht, it’s just maths.
Greeninbingley
01:01 on 13 November, 2014
Not sure myself. it pops up on CQN about twice a week. keep yer eyes peeled.
BMCUW
Tried that too. Nae worries, Ryan will explain it to his mathematically thick faither tomorrow. :))
Margaret
I know Fleagle was one of the Banana Splits. I think he was the one with the big black specs. I think he grew up to be Elvis Costello. Shame about the gambling affliction though.
Greeninbingley
01:14 on 13 November, 2014
Agreed. Fleagle growing up to be Elvis Costello with a gambling affliction. I hate it when that happens. he could have accomplished something. Poor Fleagle.
GREENINBINGLEY
Slightly more advanced level than I ever got to.
Fair to say that if I can’t understand the wording,I certainly won’t be able to fathom the formulae.
Margaret
It’s Droopy I always felt the empathy for. He shed his coat, took himself seriously, a bit like Mike Nesmith, and became Janis Ian.
A terrible, terrible fate to befall any large furry puppet.
As for Snork, well, feck him.
Greeninbingley
01:33 on 13 November, 2014
Snork? I thought it was Bingo. the drummer. But apart from vocals on yellow submarine and With A Little Help From My Friends. Poor guy.
BMCUW
I failed maths o level twice, quite emphatically, and you can spell ‘formulae’.
That makes you Alan Turing in my book!
You nightshifters need to know your limits.
Margaret
Octopuses Garden.
Talentless gobshites.
The only decent song The Beatles ever recorded was I Am The Walrus.
And maybe Elanor Rigby.
The Dickies song was good.
I particularly like pauls first Blackbird recording
https://www.youtube.com/watch?v=4JHrfq7h6CA
Greenin
Phoney Beatlemania suited the times. But very quickly, bit the dust.
London Calling, from the top of the dial.
Mags
Think someone close to you posted the best ever cover version recently.
“What if God smoked?”
DD
https://www.youtube.com/watch?v=fG_a6imlEiU
Delaneys Dunky
02:04 on 13 November, 2014
Awe naw no God smoked oan anaw noo
Mags
Absolutely.
Me, I think Lennon should have hived off and formed a new band with Jim Morrison. If only because it would have stopped him writing ‘Imagine’.
Meanwhile, McCartney should have drifted up to Holloway Road and put out a couple of interesting concept albums, produced by Joe Meek’s zany blood-spatters. Yeah.