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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Bertie – thank you! And I can’t tell you how relieved I am ;-)
Bertie-who was the best player you played against ? And who was the most under rated player you played with? You are a credit to Celtic FC Bertie.HH
henrix
There would have been no chance of Henrik getting into the Lisbon team. We had a great balance in that line-up and there would have been no opening for anyone else, good player though Henrik undoubtedly was.
While waiting on Bertie’s answer , re-read Paul’s 67 header
Trick is always to hide bad news with good
The important thing to read is peter Lawell’s ( via Paul ) comments about not reaching the last 16 is not the end of the world as there are funds of money to keep us going ( see balance sheet transfer of vic for 12.5m)
So in cryptic speak , don’t expect the new manager to get funds for CL as financially it’s not the end of the roads
Forget the fans enjoyment then
The fact that we don’t have the 12th man ( Celtic park ) for CL qualifiers means we will need that little bit extra investment to push us there
But Peter says no
One if these days the majority will realise the emperor indeed has no clothes
Bertie
Hail Hail!
What do you think of fans who apportion blame to Celtic for goings on at ‘Rangers’ and at governance level of the game in Scotland, and the fact that some have pledged to withdraw full support by not buying season tickets?
If they want to make a point, surely there is a better way than hitting the club in the hardest possible way ie. season tickets?
HH!
tallybhoy
I had the opportunity to be the boss in 1978 before, of course, they went for Billy McNeill and that was the best choice. So no complaints on that score.
Hi Bertie!
A few words on Joe McBride please!
lets keep an orderly Q ..we’re awe waiting so just be patient, and stop the shuvin at the back there..
Bertie,
I had the pleasure of watching you along with the Lions, a big thanks for all great times you gave me.
Why do you think that Jock Stein was never given a knighthood considering he was the first manager to bring the European Cup back to the U K ?
Bertie
Reading some of your answers on here, you really should be giving lessons to people on
how not to be bitter about the past.
Class player, and class Mhan.
Bertie….
Was Meeting Oor Kojo The Highlight Of Your Career In Football..?
—-
Do You Agree That MON Made A Blunder When He Ditched Our Whole-Hearted ‘Utility Player’..
Vidar Riseth..?
Bertie Auld
14:09 on 13 June, 2014
henrix
There would have been no chance of Henrik getting into the Lisbon team. We had a great balance in that line-up and there would have been no opening for anyone else, good player though Henrik undoubtedly was.
_____________________________________
I’ve always thought Paul McStay was better than Henrik…. would he get in?
henry clarson
Referee Bobby Davidson’s display that day against Aberdeen was awful. It was one of the worst I have ever seen. The Dons were outplayed – and won 3-1. Go figure.
Petec
“no opening for anyone else”.
Have you ever showed yer battle SCARRED legs?
Hello Bertie, thanks for many happy memories, I see you mention your old “friend” Bobby Shearer. Tell me it’s true (according to my memory) Shearer made a lung at you an landed at your feet. you took him by the “chorus & verse” of his pants and put him out the park. Don’t spoil an old mans memories and say you don’t remember.
Again thanks for the memories.
HH
BERTIE AULD
Just a quick question-if I conveyed my thanks,we’d be here aw day!
What’s the truth behind the ball being lost in the floodlights in ‘the semi’ and when it came down,a certain Leeds player was strangely injured?
I heard tale of a comment along the lines of-Aye,and there’s plenty where that came fae!’
Please tell me it’s true,even if it isnae. Cos it’s a belter of a tale.
Apart from that,Bertie-thanks for everything,bud. And I still don’t take photies wi cameras wi a blue button….
Thanks, Bertie. I was at that game with my dad and his mate. There were Aberdeen supporters around us who were apologising about the way that they had won the match!
They also wished Celtic the best of luck for our next game – against Leeds United. ;)
Hail hail.
beatbhoy
14:21 on 13 June, 2014
Petec
“no opening for anyone else”.
Closed minds, is never a good thing.
I take yer point though.
hamiltontim
Bobby Collins was an exceptional talent and I believe he could have fitted into any team in any era. Whoever, who would I have dropped to get him into the line-up? Well, who am I to disagree with the greatest support in the world?
Some posters on here are like Italians at a bus stop.
The elderly and infirm, women and children first.
Aye right!
Oot the road missus!
:-)
HH!!
BERTIE
FWIW,your book is the best of them all.
Nae holds barred.
A BHOY called Bertie.
Smashing.
j67
Thanks very much – greatly appreciated. Birmingham City played a significant part in the player I became. I had six years at Celtic before I moved to the Midlands. I never achieved what I thought I could, but came back a different player.
richie
Yes, it’s a nice strip, but the one I really liked was the old Shamrock strip – white top, green sleeves, green shorts and white socks.
tomthetim
Yes, I remember that session well. I think!
navanbhoy
I remember it well and, of course, it is always good to hear about the young players coming through.
Bertie
Is it true that prior to the final in 67 the lions had only played six times together
HH
Bertie,
I’ve posted my question on here 3 times now and you’ve not answered it once, is it because I’m black?
….only kiddin Bertie, being an actual real live Lisbon Lion your more than entitled to ignore me:-)
Bertie
Im sure big Jock appreciated you had other uses for your right foot.
One last question from me. Years ago I read Alan Hansens autobiography (there was nothing else to hand) He mentioned that you were his boss at Thistle and had them lapping the pitch. He broke down in agony and couldnt go on but claims you called him a big poof and sent him round again. Then he went to hospital with acute appendicitis. I always found this hilarious, any truth in it ?
williebhoy
Well, of course, Wee Jinky gave everyone problems in training. I would have lost sleep if Bobby Murdoch was in the opposition, though.
Berti
Lucky enough to see you in the hoops from 1965 onwards, and of course your great partnership with Bobby Murdoch, for that, and for all the success you helped bring us many many thanks. ( Favourite final, League Cup 6-2 against Hibs 1969)
Question, Celtic also attracted some great players over the years, Harry Hood, Dixie Deans, Stevie Murray, Pat Stanton et al, but are there any players from your era you think could have done a job at Parkhead? Alex Edwards of Dunfermline and Hibs for example a terrific footballer. Any thoughts?
tallybhoy
Bairds did a great glass of Guinness that’s for sure. I should know because I sampled a few! But Bairds was spotless, a great wee boozer.
Bertie,
As I recall, you were a good manager and I think you retired at an early age. Do you have any regrets?
King Kenny… Best ever British player?
By the way, I’m the guy that called out to you in the Caledonian University campus.
tbb
It’s appreciated, thank you.
Morton secure the services of Celtic defender Michael Miller
Greenock Morton have signed defender Michael Miller from Celtic on a one-year-contract.
The 19-year-old made 14 appearances on loan at Dumbarton last season.
Miller joins the Cappielow outfit as they prepare for life in Scottish League One, after they were relegated last season.
Manager Kenny Shiels left the Greenock outfit in the wake of relegation, and was replaced with former Clyde boss Jim Duffy.
Midfielder Dougie Imrie left Morton this week to rejoin his former side Hamilton Academical.
….PFayr supports WeeOscar
12:57 on
13 June, 2014
Auldheid
Not going to argue with you …waste of time
The arrival of Sevco into the SPL next year is part of the business plan ……
It’s all about the money …..
=====================
If its all about the money then how come Celtic entered profit with Sevco gone?
Where did the profit come from but from CL money?
So bring back your main rivals for that money, who will go to any lengths to get at it, is a sound business plan?
£15m to £20M every year as against £2.5M from an ST take rise of say 5000 supporters @ £500 an ST.
Are there really 5000 Celtic supporters who are staying away because TRFC are not in the league? Even if there are, the maths do not add up. Four times that to fill the stadium is still short of what the CL brings in.
If there is any reason Celtic would like TRFC back in the top tier it ain’t money.
So what is it, if in fact it is anything?
Bertie
In the run-up to the 1957 LC final you played in 6 of the 9 games, including the semi and scored 2 goals as well, but you were dropped for the final to make way for Neil Mochan who was returning from injury I believe.
You must have been gutted?!
Mind you Neilly scored 2 that day in the famous 7-1 pumpin’!
HH!!
Thanks for the reply Bertie, that was indeed a cracking strip.
Off to the Balne valley, Glassford street to meet up with a few CQNers for a wee libation. You’re welcome to join us after your session where you’ll no doubt be bought a few shandies. (Oldtim67 is there so it will be hard for anyone else to buy a round :-)