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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Davie
If you were in place at Celtic Park today in the managers job what areas would you strengthen in the team and who would be your must stay players for next season?
I think it is universally agreed that you can spot a player. Are there any gems hidden out there Celtic should be looking at?
It has been discussed many times on here about Scottish players we have either let slip through our fingers or haven;t bid for. Any Scottish based players Celtic should be looking at?
My first cup final was 1985. I was only 7. Thanks for that win. That was the day I got Celtic. I will never forget those goals.
Thanks Davie
LB
thanks for the replies Davie,
hope the books a great success ,cant wait for my copy.
HAIL HAIL
Paul John Dykes
I mention this in the book. There is no doubt Brian could have been the best of the lot. I really mean that because I rated him so highly. But for his injury, he would have been a world beater. I managed him at Motherwell, but he never got back to where he should have been.
Hi Davie
Your goal v rangers in the 70 cup tie is still one of my favourites.
A true Celtic great by the way.
Who was the best player you ever managed and who was the best you ever played against?
Livibhoy
Any manager will look for a consistent striker. John Guidetti is the best we’ve had for awhile. Van Dijk and Denayer look good at the back and you’re always searching for creative midfielders. I liked the look of left-back Andrew Robertson who went to Hull City in the summer. Liam Henderson made an immediate impact and has the talent to come again.
Davie…
I know you have said previously that our European Cup Final defeat to Feyenoord in Milan was the biggest disappointment of your career.
It certainly was my worst moment as a supporter.
Over the years, there have been various suggestions as to why the team did not perform e.g. off the field distractions, we under-estimated them.
What is your view?
Thanks for many great memories both as a player and manager.
Thanks Davie
LB
marakeshexpress
Two best players I ever faced were Wee Jinky in training and Johan Cruyff in competition. As far as managing, I think there are far too many to individualise. The Spanish players at Livingston were impressive. Their knowledge and application was excellent.
Hi Davie,
A pleasure to ‘speak’ to you.
We always think of Celtic as a big club even now despite the mega millions many famous clubs have elsewhere.
Back in the day things were a bit different…when you went to Chelsea what were the differences between the clubs? Did Celtic seem smaller as a professional organisation etc? Or were you surprised by anything at Chelsea which made them seem smaller?
I asked wee Bertie a similar question re his time in Birmingham it will be interesting to see how your reply compares!
HH
Jungle Jim
Ha — don’t you remember that day in 1986 when Davie’s team won the league when beating St Mirrin by A COUPLE of goals to nil at Love Street while the Jambos shipped two against Albert Kidd?
Ya cheeky beggar!
Davie is enjoying himself now! Keep the questions coming Bhoys! Will get some pics for the Facebook page….
Mr Hay,
Thanks for this chance
Where did the Quality street kids watch the Lisbon game from ?
Davie
Just one more question. As someone who has worked abroad and also at a few clubs in Scotland as gaffer. What changes would you like to see made to the Scottish game to improve the standard?
Bigger leagues?
Sectional, Under 25 or regional early stage of League Cup?
LB
Davie,
Welcome to CQN – and thanks for taking the time to give us an insight into life at Celtic.
You’ve mentioned George Connolly a couple of times. As a boy I watched yourself, Kenny and the others coming through into the first team and can remember thinking that George could become a world class player. Just how good do you think he could have been?
Hi Davie
I read that after the game on a Saturday the QSG would have a night oot and stay at
David Cattenachs house and have a game of 5s in his garden on the Sunday morning.
Question
Do you think you wid get a gemme fur the CQN. 5s ;))))
HH
Davie Hay
What is the most blatant (Cough cough) refereeing Honest mistake you were on the wrong end of in Scottish football.
Davie
When you said we’d be better off playing in England after the ‘Syme’ LCF in ’86 did you mean it or was it a heat of the moment thing?
Do you think it’s still true if you did mean it?
Having played and managed both abroad and here with teams other than Celtic, do you think thre was a difference in the way your other teams were treated by officials?
Hi David and thanks for the memories. In Milan we were only minutes away from a replay. As a group, did you ever discuss how a replay might have been approached or how it might have gone?
Mr Hay .
Many thanks for your response .
Bold enough for a second question!
Re Milan :-(
So obviously a huge disappointment but in some ways the anti-climax has belittled the achievement I think.
I mean…Celtic in the EC cup final…again…not only the first British club to win the thing but also the first British club to get to 2 EC finals!!!
Can also be argued the 70 team had a more difficult way to the final than the 67 bhoys.
So do you think its time to celebrate that team more and be proud of the achiement or is the lingering pain still too sore?
HH
Davie
Enjoying your replies. Seeing as some have asked 2 or 5 questions in the one post, can I ask, if the board had been more supportive financially in your time as manager, would a certain Peter Beardsley have joined Pierce O’Leary on the flight from Vancouver to Glasgow?
Hail Hail!
Mr Hay
A pleasure to hear you on CTV keep up the good work.
Do you think CTV could do a bit more ie in keeping us up to date with injuries and more on the youth teams etc etc.
Justafan
The big difference was how they were run as a club – I’m not just talking about the team. They looked after their players, Chelsea as a club actually treated you better and I don’t mean any disrespect to Celtic by saying that. Small, but important point, Chelsea looked after you and your family on match day. Celtic, to my mind, are still in the top ten clubs in the world. As a player, though, I have to admit Chelsea looked after me better.
gordon
We totally underestimated Feyenoord. That’s the start and end of it. They were an excellent team. We had a big gap between playing our last game in Scotland before taking on the Dutch. I think we should have kept the same team that beat Leeds United in the semi-finals. However, I am not criticising Jock Stein in saying that. He had a choice and he made it. It just didn’t work for us that night.
neilcanamalar
I watched the game at my future wife Catherine’s family home in Bothwell. I had hoped to be in the squad because Big Jock was going to take a couple of youngsters along for the experience, but, unfortunately, I wasn’t involved. It was too late to arrange travel etc, so I had to make do with cheering on Celtic on the telly!
Thanks for the reply Davie.
Did you like the Quiet Assassin moniker?
HH
Davie
I see a wee pal of mine and now and again, I thought he was one of the most talented players I had ever saw, Tony McBride his name was, he didn’t make it for a few reasons, but man the things that wee guy could do with a ball, I bet he was murder to play against at traing?
gordonj
Big George finished his career far too early. He was the first to break through and he hit the headlines when he took the ball off John Greig and walked round Norrie Martin before scoring his wonderful goal in the 4-0 Scottish Cup Final win over Rangers.
Weet weet weet
Would I get a game for the CQN Fives? Quick answer – No!
Justafan
I think that’s a great point about that 1970 team.
Morning Davie. Just as Tom Baker was my favourite Doctor Who of youth, so to do you fill my heart with nostalgia for what was probably the last era of great Celtic teams graced by home reared players. For that, to me, you were my favourite ‘Tic boss Thanks.
Aaaaaanyway, ’86 League Cup final, you took the team off the park. What or who made you put them back on, and does the prism of time make you wish you’d stuck with your original gut-instinct? I feel and felt we were blatantly cheated.
Davie,
Many thanks for coming on. In my opinion you were one of the most complete Celtic players ever to have graced Parkhead.
Do you think its inevitable that Celtic will play in England or in a European league. Or do you see the status quo as being our future.?
Thanks in anticipation.
HH.
Davie,
I remember a game against the liquidated club at Celtic Park.
Some players were squaring up to each other and the referee Tiny Wharton jumped in to break it up.
From memory his huge bulk landed on you and you were out of the game for a while.
How long were you out and were Celtic compensated by the SFA?
Did you think Wharton was a fair referee when we played the huns.
Davie,
In the immediate aftermath of Paisley ’86 you were approached on the pitch/tunnel for an interview by, I think, Jim Whyte and initially you wanted confirmation of the result from Dens. Were you actually unaware what was happening at Dens that day?
Paisley was my favourite ever Celtic moment until Henrik’s goal in Boavista knocked it into second place!
left click tic
The League Cup Final against Rangers was one to forget. Davie Syme was absolutely awful that day. And Bob Valentine didn’t impress me when he sent off Roy Aitken in the Scottish Cup Final against Aberdeen. I have to say I cover both these games fairly extensively in the book.
Davie,
So many great memories of you and the others who followed on from the Lions. The 3-1 victory over Rangers in the Cup was a collector’s item. Even out of position you left John Greig hiding and skulking around Celtic Park. And what a goal you scored.
Then there was Leeds in 1970 and the 1974 World Cup when you shone through despite the mismanagement.
Celtic squandered so much talent in the ’70s it was criminal. From ’67 until ’72 we were, I would say, amongst the best half dozen teams in world football. If ever there was a time to think big it was then.
Davie Hay
10:16
Thanks for clearing that up. You did your own 6IAR, brilliant.
Is it the case Choccy would’ve signed a new contract if he’d been given equal terms to you-know-who? Or is that another urban Jungle legend?
Davie, it was a pleasure to watch you play football, playing with passion.
I know you won’t repeat it, but do you know what McCoist whispered in Neil’s ear to start the rumpus?
Wishing you and your family all the very best.
SPD 1956
blindlemonchitlin
Yes, I meant every word about going to England. Everyone seems to agree with me these days. Mind you, it’s more for financial reasons than anything else now. Big Jock always insisted we had to score two goals against Rangers to overcome any assistance – if that’s the right word – they might receive elsewhere.
blindlemonchitlin
The second part of your question, there were occasions when you could be accused of having a chip on your shoulder. That’s not the case today because of the transparency nowadays.