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.
[calameo code=0003901719d82038831a9 lang=en page=126 hidelinks=1 width=100% height=500]
996 Comments- Pages:
- «
- 1
- ...
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- »
bamboo
I blame referees for the Kennedy assassination.
WEST WALES CELT
Is that the one who moved into a blue and white cottage?
I hope she’s had it painted…
Hope it all ogled well,gramps!!!!!
Ogled-all goes
Ffs!
WWC
Best wishes
After a half hour of England commentator jingoism ….and a first half where NZ failed to turn up
In 20 mins of the second ..NZ put them to the sword
Another defeat
Oh dear
Frankly GIRFUY….the commentators make it impossible to hold any other view
However the vote goes and I am undecided I will never vote labour again, they are a disgrace to the name,
Soled their soles, very much like cqn….8(
WWC
Great news.
Tis indeed Bobby….
Thanks to PF and your good self for the best wishes.
Gotta be honest, so far I’m finding it a breeze…
:-)
Off to deliver fruit ‘n mints, what no gherkins?
I hate gherkins too
best wishes to wwc
Oneneillennon I think the situation is much more complicated than simply believing we are hankering for our old enemy.
Many fans feel disenfranchised from celtic because of celtics silence and therefore complicitness in the whole debacle. Some on this site dispute that’s what celtics silence means, but for me I believe our board are hankering for them and they believe all will be okay when their rinarcanated zombies return. Celtic somewhat woeful handling of the league cup tells me what they really think.
Then there is the whole sordid victimisation and criminalisation if the support. Celtic have alienated vast swathes of the support due to their actions and inaction.
What u find particularly galling is that celtic and some supporters are painting a picture of rosy contentment at cp.
My contention is that we have become arrogant and complacent. That’s a bad combination.
ElDiegoBhoy
Looking forward to it already!
theglasgowcelticway
10:09 on 14 June, 2014
bamboo
I blame referees for the Kennedy assassination.
:::::::::::::::::
You cannot blame all referees for that but there is certainly a case for indicting Mike McCurry.
In an Independent Scotland Gherkins will replace haggis and porridge as the national food favourites. Our new national anthem will sing of our pride in Gherkins and everyone will be ordered to wear Gherkin hats on Independence Day.
Anyone with a distaste for Gherkins will be sent to work in McDonalds were they will become qualified gherkin slicers and gherkin burger placement officers.
Just another reason to vote YES.
MWD says AYE
In an independent Scotland you won’t be allowed to bless yourse………oh wait……..
MWD
at least they are green.
My friends in Celtic,
Most of us are extremely proud of our clubs ethos and rightfully point out our club is inclusive to all.
Our club statement reiterates that and the vast majority of our fans endorse that.
With that in mind I would argue that the Anglophobia of the increasingly toxic cyber nats is contradictorily to our clubs values.
Racism, yes racism, bullying, bigotry and discrimination are the common denominators of these fascist like people.
Anti English rhetoric is fueling the flames as the desperation of the Yes (terday ) mob becomes more hysterical.
Some may point out that the cyber nats are not representative of the greater campaign, however the Yes camp needs these people and that is why there is great reluctance to completely disown them.
I fear the legacy of the referendum will be division and more racism.
HH, always in Celtic.
West Wales
International Tims are by your side.
Wishing you and yours the outcome you wish for yourselves,
Hail Hail
neganon2
It’s ironic that in a non independent Scotland the practice of non-blessing of ones self was created. Ironic Gherkins!
MWD says AYE
BT
I wouldn’t know. I’m coloured blind!
But I do love my blue n white hoops.
MWD says AYE
NegAnon2
10:26 on
14 June, 2014
Oneneillennon I think the situation is much more complicated than simply believing we are hankering for our old enemy.
Many fans feel disenfranchised from celtic because of celtics silence and therefore complicitness in the whole debacle.
———————————————————————————————————————
How many?
What debacle?
Put up or shut up.
Neganon
I saw your post about outkawing catholicism, that was the worst I have read on the independent debate, statements like thst and the arrogant tripe from the better together group will help people choose independence, you guys ahave the cheek to slag cyber nats but the come out with statements like that.
why not debate the facts and figures.?
Nobody will stop me going to church and blesssing myself.
faith, family then football..
It’s the best way I tell ye…8)
KTF always
My friends in Celtic,
Will not get into any religious debate, however I will point out that the Tories are more representative of my faith than the Scottish cabinet.( And previous Scottish cabinets )
HH.
blantyretim is praying for the Knox family
10:44 on
14 June, 2014
The old German tradition of the three Ks.
Kirche,Kinder and Küche.
Church,children and kitchen.
KTF ………………..Always.
WWC
Hope all goes well.
And congrats Gramps
Mucker
WEST WALES CELT
Wee song for Shins-Sinead-to think about while she’s recovering.
http://m.youtube.com/watch?feature=kp&v=2KMjxAvpUD0
Greenpinta
how many catholic prime ministers have the tories had?
remember the uproar when Michael martin became the first catholic speaker in the commons…
macjay
priorities. o)
Good to see the Aussies made a game of it last night after I went to bed.I had real fears for them after Chile went two up early on.
blantyretim is praying for the Knox family
10:54 on
14 June, 2014
How many Catholic prime ministers have Labour had?
Wait,pal.
The times they are a-changing.
Priorities,pal?
Agreed.Bet you it`s an instinct we share.
Well donel to doc for being with wee Bertie yesterday to ensure the integrity of the blog.
blantyretim is praying for the knox family
10:44 on 14 June, 2014
Nobody will stop me going to church and blesssing myself.
faith, family then football..
It’s the best way I tell ye…8)
KTF always
———————————————————————‘
Correct andgood morning. Today I shall be at a Whisky festival in Ayr, every distillery in Scotland and further afield will be there, ye get a wee taste of as many as ye can, is a day to remember, at the time. …!
Ayrshire is Green and White
Afternoon Timland from a warm, soon to be hot hun free mountain valley
So, who does everyone fancy today ?
Me thinks
Columbia, low scoring game.
Uruguay, high scoring game.
And a boring draw………with hopefully the brits being on the end of a really dodgy decision.
HH
Mick
enjoy your day, today I will be in ksc with marspapa and the barca mole, paolosboots has a pass as he is back in Ireland.
KTF
BLANTYRE TIM 1102
Ouch!
west wales celt
10:03 on 14 June, 2014
Best wishes
HH
BMCW
You may be right about referees being from participating countries. Were we in the WC when the Cowboy made a serious blunder on the line when people were saying he would get the Final?
That apart, I just wanted to have a go at the MIBs.
theglasgowcelticway
10:57 on
14 June, 2014
My 21 year old son and my family were in extremis at that point because all my nightmares were coming true.
We got back into the game and reasonably could have claimed a draw.
However,I am eternally grateful that we did not suffer the humiliation that I feared.
For one reason and one reason alone.
The future of fitba` in Oz.
new article posted.