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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Morning all from an overcast South Ayrshire coast. Also blowin’ a gale.
HH!!
Morning All,
woke up this morning to find that the oul right knee ( that is my good one ) is the size of one of my own posts!
Today, I couldn’t beat long John Silver in a ten yards race!
Davie Hay on the blog later.
I am away to give someone the black spot!
Morning all.
Brightish so far but there is a storm warning.
Storm clouds look to be gathering in abundance in Govan.
Taurangabhoy
07:23 on
13 November, 2014
Macjay and Summa enjoy your barbies and banter. On my lonesome in the Far East of middle earth. C’mon N Britain and wee Gordy. If we beat the Republic it will show real progress.
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That`s right,Taura.Progress.
Beyond the pale.
That`s your situation……………..
I love N.Z. and N.Zers.
Half yer luck.
Bright on my train to the Big G and not just cos the lights are on!
Serious questions being asked in the Ireland camp about the wisdom of holding an elvis impersonator theme night last night. And then having Stokesie and Keane in a song off for the final.
HH jamesgang
Jamesgang
Apparently it all kicked off when Keano sang his unique version of won’t you let me be your Teddy Bear ………..
Yep just us and a few stray possums. Still spring over this side of the ditchMacjay hanging out for a fishing trip but waiting for the right weather and the brothers law to stop skiing and hunting and bring his boat over. Any chance of a trip over to whakatane ? Hail hail
Neil canamalar Lennon hunskelper extrordinaire
07:42 on
13 November, 2014
Macjay..
As a member of Celtic Films did you know, Frank Callaghan and Peter Mullen ?
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The names don`t ring a bell.
Harry Woolfries? Builder,developer?
I`ll get back to you when I can summon up ………..
John Mc Farlane……..?
Way back…….40 or so years.
We used to sit on the gantry above the jungle with the beeb punters or behind the goals…..
What a privilege…….
Half time ,supping a cuppa with Caesar in the canteen………
BRTH
Sorry to hear about the peg.
Though if it means you have Keira Knightley hanging about with you all day then there’s a def silver lining!
HH jamesgang
taurangabhoy
The place in the picture below is def in my Top 10 views in my life.
Lake Tekapo. Couldn’t believe the colour of the water. Too perfect to be real. I’d love to visit again.
And if memory serves the church in the picture had a big window at the back behind the communion table so you could see the whole expanse during a service.
http://hakacustomtours.co.nz/wp-content/uploads/2013/05/Lake-Tekapo-Church-of-the-Good-Shephard.jpg
HH Anzac Tims!
Jamesgang
Taurangabhoy
08:54 on
13 November, 2014
Yep just us and a few stray possums. Still spring over this side of the ditchMacjay hanging out for a fishing trip but waiting for the right weather and the brothers law to stop skiing and hunting and bring his boat over. Any chance of a trip over to whakatane ? Hail hail
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Jeez,pal.
You have a mother of a memory.
God willing,our day of casual but somehow excessive alcohol consumption will come.
There or here,in godzone.
Come on you Jocks.
Macjay harry woolfries is this the same guy that owned the video shop in Ingram street early 80’s I think.
HH
KTF
Good morning Macjay
I see Eddie McConnell regularly in the Chip in Ashton lane – he must have been doing his Cameraman stuff in your day
jamesgang
09:04 on
13 November, 2014
Your moderate and measured response to the ” My empire`s bigger than your empire ” nastiness the other day was much appreciated.
Ca` canny.
macjay1
Thank you.
Appreciated Sir.
Take care.
HH jamesgang
jamesgang
lol
HH
Beautiful wee Church Jamesgang. The bro in law’s family have two baches there so spent many a good few days in Tekapo. mrs T sister got married in it and we stayed on for a week. When I first saw the postcards I thought paintshop but the lake really is that colour. Some nice big trout and escapee salmon in the canals around Tekapo. Jeez must be due a South Island trip soon. Hail hail
Arrived in Glasgow.
The poor Man’s Clydebank – eh delaney’s ! – but it’ll huftie do for me today.
Laters Timdom
HH jamesgang
BRTH
Sounds like the Ole jigging in Jinty’s has finally caught up with you – watch yourself on those cobble stones
Would love to have seen Roy Keane (hey that rhymes!) pick a fight with Davie Hay!
Keano would have been ‘quietly assassinated!
HH!!
mighty tim supporting wee Oscar
09:05 on
13 November, 2014
Macjay harry woolfries is this the same guy that owned the video shop in Ingram street early 80′s I think.
HH.
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I left for OZ. late `79,so I don`t know,but I know he was an achiever .
Good guy.
Enjoyed his company.
taurangabhoy
I was there over 15 years ago.
No kids at the time
But I now have a son who loves to fish.
So You’ve just given me my bucket list! Along with both my kids seeing dolphins at the bay of Islands.
A most stunning country.
HH jamesgang
jinkyredstar cuts it back for Neil Lennon
09:08 on
13 November, 2014
Good morning Macjay
I see Eddie McConnell regularly in the Chip in Ashton lane – he must have been doing his Cameraman stuff in your day
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Eddie McConnell is a fixture in the Chip.
Big Jock used to especially ask for him to cover some Celtic games because he knew that Eddie would not miss any of the goals as so often seemed to happen with the BBC under Peter Thompson and Roy Small.
Eddie used to have a wee saying: ” Vazoo Vazoo” whilst mimicking playing the violin.
No one really knew what he meant when he did this but took it to mean that all was good and that the karma was on his side.
Back in the day he could regularly be seen walking up and down Byres Road with a blonde on each arm — that stopped him playing his imaginary violin but I am quite sure he was still saying ” Vazoo Vazoo” to himself!
Can we post our questions to The Assassin now or do we need to wait until 9:30?
We shouldn’t shop in the SPL for talent unless there is big demand for their talent from top teams. We want competition, and that won’t happen if we constantly nick our opponent’s best players. And let’s face it, most of them will end up in League 1 or the Championship if they do leave for another team. We need to aim higher if we want to compete in the Champions League.
There are always exceptions. If Dundee lad could be sniffed up by the likes of Everton, we’d be foolish not to consider it. Very few will reach that level though.
Jamesgang bring yer bucket anytime. I will sort out the ice and beers fill it. Hail hail.
jinkyredstar cuts it back for Neil Lennon
09:08 on
13 November, 2014
Good morning Macjay
I see Eddie McConnell regularly in the Chip in Ashton lane – he must have been doing his Cameraman stuff in your day.
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Ah.The Rock and Byres Rd.
My old stamping ground.
Don`t remember that name.Unsurprisingly.
Eddie would undoubtedly recall all the angst, factions and infighting around that time.
Pathetic it was. Probably why I bailed out.
A bit reminiscent of C.Q.N.
:-)
The FAI has voiced its support for assistant Republic of Ireland manager Roy Keane amid allegations that he was involved in an altercation at the team hotel.
The FAI issued a statement late on Wednesday night after reports circulated that police had been called to the team hotel in Portmarnock earlier in the day.
The statement said: “Following inaccurate media reports which refer to an incident involving a member of the public this evening at the Republic of Ireland team hotel, we wish to clarify that Roy Keane called the Gardai following the incident.
“The manager, Martin O’Neill and the FAI are fully aware of the circumstances surrounding this event, and the assistant manager has their full support.”
Reports this morning, however, have suggested that in fact a member of the FAI called the Gardai adding more confusion to the situation.
A Garda spokesman confirmed officers received reports of an incident at a hotel in north Dublin. The incident occurred at 3.30pm.
An ambulance was also called to the scene, but it is not clear whether someone was assessed at the hotel or if they required further treatment.
“Gardai are investigating an incident which occurred at a hotel in Portmarnock in the late afternoon,” the Garda spokesman said.
No arrest was made and the spokesman said no complaint has been made.
The Ireland squad is due to fly out of Dublin on Thursday afternoon for Glasgow, where they face Scotland in vital Euro 2016 qualifier on Friday evening.
Martin O’Neill’s men are currently joint top of Group D after taking seven of the first nine points available to them.
O’Neill and number two Keane celebrated a year in charge of the Ireland team earlier this month.
Surprise visit from a red squirrel this morning. Checking out the garden and trees while being mobbed by blackbirds and jackdaws. They live a few hundred yards away in a conifer wood . I’ll have to put up a feeding box and try and encourage more .
taurangabhoy
Hopefully one day I can take you up on that
Stranger things have happened!
HH jamesgang
Davy, always thought you got a raw deal. Built multiple teams at Livi to eventually finish 3rd in the SPL and win the League cup, what an outstanding achievement.
Scouted the 3 amigos for us which gave us great football, wonderful memories and made the club a lot of money.
I’ve always thought the club should be making use of your obvious talents.
You were a footballing hero of mine anaw. Good luck in all you do Davy, you brought me some great memory’s
Macjay,
40 years and more would be the right time, they used to tell me watching from the gantry made them appreciate the game more as it took on the form of a game of chess in some games.
They did not go to the gantry very often as they were creatures of habit and liked their usual place.
But they were members of the Celtic Film Society and had passes.
Both gone now god rest them, and a pair of argumentative carnaptious auld buggers you are likely to meet.
NurturenotnatureCSC
Clear and mild in the Southeast at 430AM………
http://www.cbs12.com/weather/features/interactive-radar/
Welcome to CQN Davie!
One of my best memories is of you scoring against the now defunct club at Celtic Park.
It was a pouring wet day and their goalkeeper Gerry Neef was beaten all ends up.
I was right behind the goal that day and the ball seemed to swerve in 2 or 3 different directions before it hit the net.
We were discussing that goal on here the other day and the distance you shot from goal varied from 30 to 50 yards!!
Have you any idea how far from goal you were when you hit the shot please?
Thanks for the memories and very best wishes to you and your family.
Has Davie’s flight been delayed?
:-)
Good morning Celtic Quick News – sorry I am a little late. Anyone have any questions for me?
Hail hail, Davie!
Firstly, thanks for 2 of the greatest days out I have had as a Celtic supporter, the Centenary cup final in’85, and,of course, Love Street in ’86.
The team seemed to carry the momentum from that last day title win into the start of the next season, but, in December of ’86, form started to dip and the consistency we had shown never really returned that season.
Do you put this down to the squad lacking a bit of depth to get through a season, and, if so, were there any areas you had tried to strengthen?
Before I ask any questions, is it Davy or Davie?
JJ