Credit where it’s due, season ticket sales at Ibrox near 17,000, with so many people trying to force the club into the gutter, is an achievement, and ignore anyone who doubts this figure. Respect to those fans who have remained ‘loyal’. The information was released to the stock market, so sales will definitely be north of 16,500. It’s not worth lying to the stock market over such trivialities.
In the short term, this means the club will be able to meet its loan repayments, if they choose to do so. Don’t ignore the possibility of a game of brinksmanship over loans made by fans hostile to the board. Lenders could be forced take insolvency steps to recover their money, which would be politically awkward, so the club might be able to hold onto this cash.
It also means they will survive the summer and start the new season, which in itself, will encourage others to buy season tickets. The eventual figure may reach 20,000.
With adult tickets costing an average of under £300 before vat, that’s circa £5m hitting the budget so far. Visits from Hearts and Hibs next season, in what counts as big games at Ibrox these days, will provide additional income, which will go towards offsetting the drop in income from lower season ticket sales. Controlling investors are looking to raise £8m from a share issue, so where does that leave Newco?
Based on figures produced by the club in their 2012-13 accounts, income, including a contribution from circa 36,000 season ticket sales, was £19m, while operating expenditure was £32m, leaving an annual shortfall of £13m. Since then, costs and well as income, have fallen.
The £8m share money still leaves them short by a margin that’s likely to be at least £5m, probably more, so further funding should be required by early next year, possibly in the form of a secured loan.
From this position, assuming they compete successfully on the pitch, Newco are short odds to survive long enough to make it into the Premiership for season 2015-16, albeit, still carrying an enormous structural overspend.
It’s also likely that Dave King’s plans, however limited they were, have been torpedoed. Newco will limp on as an unrecognised and unloved rump of a football team, largely owned and controlled by people who have done everything in their power to hide their identity from fans. We can only speculate………
Know your place
King’s most damaging intervention in recent months was to assert that Newco should be spending enough money to compete with Celtic, which after original Rangers went through liquidation is hard to fathom. Newco Rangers must surely learn to live within their means, whether that involves competing with Celtic or fighting off relegation. Those now running Newco can insist all they like that they are custodians of the heart and soul of Oldco, but only the colour of the shirts will bear any resemblance with the former ‘bears’ in the decades ahead, should they survive long enough to enjoy them.
The financial fundamentals have not changed. It will cost between £17m and £20m to operate a football operation at Ibrox, before you employ a footballer. Rates (possibly rent in future), policing, insurances, utilities and the hundreds of staff required for a stadium which can accommodate 50,000 people leave little room for shortcuts. Jettisoning the vanity project that is Murray Park is a no-brainer. Get rid of it, cut costs and bring in some cash.
Football on this scale in Scotland is only possible with regular Champions League participation. Celtic could not operate at anything like their current levels without reaching the Champions League group stage more often than not, or by receiving an investment of cash to recover the situation, should the bogey come off the rails.
This scenario has gone for the Rangers group of clubs. Celtic’s dominance has come while they have sorted out their finances and, right now, are not in debt. Should things go wrong one season in the future, they have the bank facilities available to roll the dice again. Should this go wrong they have investors available to step in, just as they did in 2001 and 2005.
Dave King’s plan may have been unfathomable, but his motivation is not. He knows too well that a subservient Rangers will be unloved and will eventually wither and die, just like the supremacist, version.
Don’t even try to fight long-term fundamentals. They are fundamental! Accept it.
The one and only Bertie Auld is due in the comments section below for a live chat starting at 1pm. Tune in.
Visit the CQN Bookstore to get Tommy Gemmell to sign your personal copy of his tome, All the Best.
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a pre
hi bertie,my dads favourite picture is the one he has of him and you,st peters boys guild,bellsmyre late 60s early 70s,met u once u made ma day,my da loves ye,god bless you sir
Well done Winning Captains, Paul67 and everyone else who helped organise today.
These days on CQN are so special, who’s next?
philbhoy,
No jeans and a tie…oh, and a shirt :)))
eddie……..
Hail Hail to that!
reflection on media.Truth then,now and forever.
http://www.itsanewclub.blogspot.co.uk/2012/08/not-new-club-then-by-retroscot-140.html#comment-form
sipsini
A tie?
Seriously?
philbhoy,
No tie, no entry, I had to borrow one :))
sipsini
I’ll need to buy one!
:-)
Philbhoy
Any chance of me catching up with you and your lovely lady in town in the coming weeks?
bamboo
Thanks for the reply
From BBC:
Nineteen men from across Scotland have been arrested and charged following football-related disorder during the Ramsdens Cup Final.
Before the match between Rangers and Raith Rovers at Easter Road Stadium on Sunday 6 April, there was a large disturbance in the Grassmarket.
The men were detained in Glasgow, Renfrew, Edinburgh and Grangemouth, Kirkcaldy and Dumfries.
They have all been charged with a breach of the peace.
All of the men will appear in court at a later date.
Police said they are continuing to follow a positive line of inquiry in relation to others connected with the disturbance.
Ch Insp Alun Williams, of Police Scotland, said: “The Ramsdens Cup Final was a great day out for both sets of fans and the behaviour of the vast majority in attendance was exemplary.
“However, a small minority became involved in disorder within the Grassmarket, causing fear and alarm to other members of the public.
“These actions were totally unacceptable and as a result of joint enforcement activity undertaken by officers from across Police Scotland, several arrests have now been made, with more likely in the coming days.
“We will seek Football Banning Orders in each case, and wish to send a clear message that disorder of any form will not be tolerated and anyone found to be responsible for offences of this nature will be robustly dealt with”.
Today’s quiz question what is missing from the above ?
3 good games coming up hopefully.
I hope, the wee guy who tried to sell me a Vodafone contract, frae Glasgow as well, doesn’t mind me keeping him on the line for so long. He is just doing a job.
The fact that he knew so much about me, and I’m with 3, well it is disconcerting.
God Bless the Lad and his Wife and Child.
big-cup-winners
16:35 on 13 June, 2014
From BBC:
Nineteen men from across Scotland have been arrested and charged following football-related disorder during the Ramsdens Cup Final.
Before the match between Rangers and Raith Rovers at Easter Road Stadium on Sunday 6 April, there was a large disturbance in the Grassmarket.
The men were detained in Glasgow, Renfrew, Edinburgh and Grangemouth, Kirkcaldy and Dumfries.
They have all been charged with a breach of the peace.
All of the men will appear in court at a later date.
Police said they are continuing to follow a positive line of inquiry in relation to others connected with the disturbance.
Ch Insp Alun Williams, of Police Scotland, said: “The Ramsdens Cup Final was a great day out for both sets of fans and the behaviour of the vast majority in attendance was exemplary.
“However, a small minority became involved in disorder within the Grassmarket, causing fear and alarm to other members of the public.
“These actions were totally unacceptable and as a result of joint enforcement activity undertaken by officers from across Police Scotland, several arrests have now been made, with more likely in the coming days.
“We will seek Football Banning Orders in each case, and wish to send a clear message that disorder of any form will not be tolerated and anyone found to be responsible for offences of this nature will be robustly dealt with”.
Today’s quiz question what is missing from the above ?
———–
It doesn’t tell you that the Green Brigade were responsible???
big-cup-winners
HUN!
Next season’s fixtures out on Wednesday.
Philbhoy
No need for the tie…..smart & casual was fine…
We were in the Thistle Hotel….as previously said, we bumped into Henrix & Chris with their families….autograph + photoshoot for Ryan..
Taxi to CP. Buffet service…excellent food. Scottish Cup was on display…..another photoshoot….
We were than invited to walk down to the park…..another photoshoot session.
Ryan “This is the best day EVER”
Tear in my eye.
Paddy T
We did wait for a taxi booked at reception area to eventually arrive.
Theres 19 men a missing. :P
Big game on Alba tomorrow at 17:00 in direct opposition to Colombia v Georgious Samaras et all. Hard one to call regards which one to watch
Scotland ladies v SWEDEN LADIES:o)
ElDiegoBhoy
16:46 on 13 June, 2014
Big game on Alba tomorrow at 17:00 in direct opposition to Colombia v Georgious Samaras et all. Hard one to call regards which one to watch
Scotland ladies v SWEDEN LADIES:o)
__________________________________________
Being single, and having a fancy for Colombia to do well, despite their call offs….
Arghhh sh**
Cognitive Dissonance strikes again.
petec
Whatever takes your fancy:o)
Spain-Holland BTTS
Chile -1
A tempting 4/1 for the double
HH
HT,
The marching season is beginning, there will be hun fighting hun and it will be covered up.
There is also in fighting about people jumping onto seats available now that soooo many have not renewed,.
The ones that haven’t are up in arms. ;))))))
big cup winners
The
Ladbrokes doing RVP 12/1 first goal v Spain, only available until a goal is scored in Mexico v Cameroon game
philbhoy,
The tie is prob only for match days mate and that is a defos.HH
ElDiegoBhoy
16:51 on 13 June, 2014
petec
Whatever takes your fancy:o)
~~~~~~~~~~~~~~~~~~~~~~~
Going for over 2.5 goals in the first half as a Single at 13/1. I’ll still be delighted if it only has 2. :))
TnT is the facilitator.
I hope the pitch isnae as bumpy.
Good afternoon friends. Cannie beat a wee Friday afternoon power nap then a World Cup teatime game (before I’m dragged out to a friend-of-the-wife’s-daughter’s-21st).
On the ole predictor I have Mexico to win 2-0.
WC and Bertie if you promise to spell StornOway correctly the BP’s are your’s TG also promised one . Bertie my mate John who has supplied you with one or two sends his regards. WC be in touch at the start of the season regarding the where and when. they threw the mould away when they made Bertie!! Hail Hail Hebcelt
Good goal flagged offside
For Mexico
jobo baldie
looking like the refs will decide who wins….same old. HH
Well done all at CQN, especially Bertie for putting up with Doc ,it’s so hard to be in his company and not slapping him.hh
sipsini – missed it as was buttering my toast;-) Hopefully a reply soon? Mexico looking good going forward but dodgy at the back.
Come on Mexico!!Sanpatricioscsc
Bertie,
My Dad has been watching Celtic for over 80 years. As I was growing up, he regaled me with stories of his then favourite player, Malky McDonald. Now he waxes lyrical about you and Bobby as the best ever. While Charlie Gallagher and Joe McBride are my all time favourite players, I know in my heart of hearts that the old mhan has it right.
When you and Bobby played, Celtic played.
Mexico just had a goal wrongly disallowed. Linesman flagged incorrectly for offside. Grrrr