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
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- ...
- 27
- »
Philbhoy
13:08 on 13 June, 2014
Hello Bertie!
If you and that other great midfielder Bobby Murdoch were starting your careers today and were playing in a 4-4-2 system who would you have in midfield with you from this era, if you had your choice?
Big Jock, you and the rest of the Bhoys gave me the best memories of my football life.
Thank you so much!
In tears now.
repost of Philbhoy’s question which may have been accidentally missed
13:08 on
13 June, 2014
Hello Bertie!
If you and that other great midfielder Bobby Murdoch were starting your careers today and were playing in a 4-4-2 system who would you have in midfield with you from this era, if you had your choice?
Big Jock, you and the rest of the Bhoys gave me the best memories of my football life.
Thank you so much!
In tears now.
Bertie, what’s the best story you’ve heard of fans in Lisbon?
I heard one about a guy who was drunk and had been picked up by the Police and put on a plane to Glasgow, when getting off the plane someone asked why he was so upset. He replied “I fecking drove to the game”
cadizzy 13.36
pmsl
set free the bears
Jock gave us tremendous confidence at half-time and picked out the best points in our game. But, be fair, Feyenoord deserved their win. But I’ve often looked back and wondered who would have preferred to have won in 1970 in Milan or 1967 in Lisbon? Both would have been ideal, of course, but i would settle for Lisbon.
Good afternoon Bertie.
Do you think any of your achievements get overlooked because of Lisbon?
Does this bother you? ( even a wee bit?)
Thanks.
Thanks Ghuys!
I do love you all!
Philbhoy
and we all love you too 0;-)
Mr Auld,
you scored the winning goal 2 minutes into my first ever cup final against St Johnstone in 1969. For that I am eternally grateful. What made you give up football and move into the bakery business?
May the sun always shine on you!
Jobo
Bertie
Who do you rate in the current Celtic midfield area and who would you bring in to bolster it ( feasable options only )
Bertie
Did you have a brother who was a joiner, I think my da was friendly with him if so?
Bertie
one of my favourite stories was of you and John Greig chatting in the tunnel before a game
John “What’s your win bonus today, wee man?”
Bertie “£3”
John “We’re on £6”
Bertie “But I’m guaranteed mine”
Did you in fact win that game?
artofwar
Bobby Shearer, of Rangers, was undoubtedly the dirtiest player I ever faced. He used to hammer me when I was a youngster playing on then left wing. After Bobby stopped playing he had four toes amputated. We were at a function in Hamilton and Bobby was late. He limped in later and I asked why he was hirpling. He told me he had lost four toes. I said, ‘No you haven’t – they’re up me arse!’
Bertie
What’s your opinion of the Green Brigade?
I’ve got a table booked for seven at the No 7 Restaurant tomorrow night.
Can you get a drink in the Stadium before that?
Thanks.
Wee Bertie back at 2.30
seven o’clock
Bertie Auld
13:13 on
13 June, 2014
tallybhoy
I was breastfed until I was 14!
…………………………………………………………..
Bertie……
Kwality
:))))))))))))))))))))))))))))))))))))))))))))))))))))
Thanks for dropping by.
bawsman
I don’t know the ins and outs, but I’m more concerned about what’s happening at Celtic.
You were quoted in the press recently as saying you thought we missed a trick in not recruiting Roy Keane as our new manager,
Do you still think that to be the case?
Personally I think his sometimes abrasive manner would have been on display more often than not and ultimately it would have all ended in tears.
Bertie ,the Dukla semi-final free-kick is etched into my memory like it was yesterday .
We got Willy Wallaces version but I’m wondering if yours matches his.
Was it a pre-planned move or a spur of the moment piece of kidology whe you stopped replaced the ball and tapped it sideways to the unrushing Wispy to arrow into the net.
I think someone else was asking about this earlier.
21may
Did anyone notice that I scored that with my right foot? Big Jock always said that was there to keep me upright – that showed him!
Bertie (3rd time lucky!)
You were quoted in the press recently as saying you thought we missed a trick in not recruiting Roy Keane as our new manager,
Do you still think that to be the case?
Personally I think his sometimes abrasive manner would have been on display more often than not and ultimately it would have all ended in tears.
channelislandcelt
This is perfect timing – I’m looking for cheap flights to Jersey right now!
TnT
Not sure if you already got this info from elsewhere, but with regards to your question about the number of home league games on a Saturday, these were the numbers for last season and may be a decent indicator for the season upcoming also?
Saturday Home Games – 13 (2 of which did not KO at 3:00pm)
Sunday Home Games – 4
Wednesday Home Games – 2
Cheers,
BJM
Bertie Auld (legend) – thanks for the reply, that has made my week :-)
God bless you sir!!!!!!
AoW
Cadizzy
I’ll look forward to that.
Did I say that that was a rubbish post you put up for Bertie?
jamesgang
I like a gallus player, a guy with a little bit of swagger. These are the type of players who will get bums on seats to applaud their unique skills. To mention to mention one, CPT – Charles Patrick Tully. I’m told I was a wee bit galls myself!
cadizzy
13:51 on
13 June, 2014
Bertie
one of my favourite stories was of you and John Greig chatting in the tunnel before a game
John “What’s your win bonus today, wee man?”
Bertie “£3″
John “We’re on £6″
Bertie “But I’m guaranteed mine”
=================
I think you will find it was ‘but I’m %*$#*n guaranteed 3!’
One of the videos from Bairds on youtube confirms this;)
HH
Phill bhoy, apologies, I missed the question.
Now being answered.
philbhoy
I think Stan Petrov would have had a chance in our midfield. In my day we had nine potential goalscorers – Ronnie Simpson and John Clark being the exceptions. Petrov was a hard-working guy who could chip in a goal or two.
leftclick
I’m glad I gave you something to smile about. Fab times!
mcbhoy
Give us a kiss and I’ll tell you!
Bertie
Thanks for my blog name. It’s the best one on CQN wouldn’t you agree ;-) ?
Thanks Bertie!
Apologies for my impatience!
After all, you don’t get to chat with a Lisbon Lion very often!
Made my day!
Bertie
You were a great player …so I’m told …I was too young to see you play
However , your passion for Celtic is evident in the way you conduct yourself …you never talk us down unlike many other ex players
You are a great ambassador for us , the fans….
Thank you
HH
Doc
All is forgiven!
Cheers!
an tearmann
I’m getting great feedback from everyone who saw it. The saddens at the finish, of course, was a wee bit upsetting. But it was true to life.