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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Auldheid
You and I can only speculate
I rely on the words of The Great Desmondo re Rangers( sic)
It’s more than a coincidence that we have done nothing to hinder Sevco heading for the SPL
I have no desired for an argument as there will be no agreement …pointless
We have colluded in the great a Rangers same club swindle …shameful IMO
Cheers Bertie
Youve cheered a lot of people up on here today, and nae politics
My weans have never seen you play but know how great you were and Im sure theres thousands like them.
Thanks again BErtie and All the Best to You and Yours
HH
Bertie
If not already answered, could you have a look at Philbhoy’s Q @ 13.08……..
Secondly, do you remember game at Cathkin & snowball fight @ throwing?
Paddy T
ziggydoc1
I enjoyed my time as a manager, but others need too be given a chance and it was time to stand aside. Kenny Dalglish was a great player, no doubt about it, but the best-ever in Britain? That’s up for debate. Don’t ever overlook the qualities of Wee Jinky.
tallybhoy
Neilly Mochan at that time was a far better player than I was. He deserved to play against Rangers that day and scored as well in the 7-1 win. He was well-named as Smiler. He played left-back when I came in and he helped me immensely.
Paddy Turner
Bertie did indeed answer the question!
Thanks again!
Hope you and your good lady and young Ryan are well!
Bertie
Many thanks for being on here today.
It’s been brilliant.
You are a true Celtic legend!
HH!!
timjim
Your Uncle Frank was a lovely character. I remember he played Junior football and was well respected as a fine full-back. Tough but fair. Birthplace? I was born beside my mother.
guyfawkes
I couldn’t help but being a left foot player because that was the only shoe I had.
Bertie, the 1965 final against Dunfermline – that’s where it all began. A very close game but what a cracker of a goal you scored from just inside the box.Do you remember it?
auldheid
John Colrain came in for Bobby Collins I believe against Kilmarnock. Bobby had been our penalty taker and I took the spot-kick. And, yes, I scored.
Mr Auld, sir… Panmuire Thistle, the team of the 50’s… Celtic, the team of the 60’s… Brazil, the team of the 70’s… Who was the best? BTW, I split my heid wide open once in Dubai a few years back and then again in Larkhall, so that might have affected my judgement!
Good luck Bertie.Glad you played with us.
HH
alisdairmaclean
I don’t recall ever saying I was against Highland League clubs coming into the league. I believe, in fact, they have been an added extra in our game.
Bertie,
Sorry if this has been asked before. I have been out all afternoon and I haven’t the time to read back.
I have a memory of you sitting on the ball against Clyde. I believe it was at Shawfield and you were trying to get them to come out of defence. I think I read on here that it was at Celtic Park. My memory isn’t what it was; so could you give me the right version. Thanks.
bournesouprecipe
That free-kick v Dukla in my mind will always be a cunning plan which was executed to perfection.
One the incidents of that era just is forever seared into my mind. Along with Billys last minute headed goal from a Gallacher corner? against the Yugoslavs and Dixie Deans penalty miss against Inter?
….PFayr supports WeeOscar
If your mind is made up then there is no point me trying to change it. I am just saying money cannot be a reason for Celtic to want TRFC back as challengers.
I suggest that other clubs are coming to the same conclusion which is Scottish football and society are better off with that lot much diminished.
Given DD’s reputation as a businessman I would be surprised if he meant what he said.
Bertie,loved reading your comments.
Sky Sports News points out that Newco’s season ticket sales of 17,000 is more than the combined average attendance of all the Championship sides last season.Ah well,that’s all right then,no problems there.
classof67
Thank you very much for the extremely kind words.
fencelt
That’s just wonderful. Happy days, eh?
justafan
Why didn’t I pass the ball to Big Yogi? The ball was too round.
Bertie
Thanks for your answer, I think it was the Stonehouse Violets he played,for. All the best.
Bertie,
What was your favourite goal whist wearing the Hoops?
Remember CQN has three Lisbon Lions, the European Cup and the Championship Trophy all at Celtic store Argyle Street tomorrow from 1pm – come and say HH
Heb Celt
Winning Captains has promised me some Stornaway black pudding. I love the stuff. Let me tell you a story about a black pudding. We were playing Airdrie at Broomfield on a horrible bleak, wet and windy evening. We got a corner-kick over at the wee Chad valley stand and Bobby Carroll ran over to take the kick. At that moment a black pudding came flying out of the crowd and just missed Wee Bobby. The guy shouted, ‘Hey, Carroll, that’s two puddings on the pitch tonight!’
tallybhoy
We worked on that and I hit the ball as sweetly as I have ever struck the ball. Fabulous feeling to see the ball fly into the net.
an tearmann
Dave Mackay was a helluva player for Hearts and Spurs. George Best was something else altogether. But I really admired Dave.
Auldheid
He’s never sought to clarify his statement in any fashion
I’ll take what he says at face value rather than applying some different meaning ( on a purely speculative basis) to suit my own thought process
Dundee Utd season ticket sales well ahead of last year, targets revised upwards and on course to have their highest number of season tickets holders ever.
Has this been reported in the MSM or does good news stories not fit the agenda?!
HH
What an afternoon, we got through the questions eventually.
Loved it.
Philbhoy
Was only to prevent you having a tantrum…….you’ve got to be careful at your age.
Wife & Ryan are preparing for the Fair …..he’s in the retinue, and she’s her ever excited self getting herself worked up…….
You being an outsider, will obviously not understand…..suppose your more of a Marches & Gala Day type of guy…..
All well with you & yours?
BTW….self & family do the No 7 Restaurant every year…..C/W hotel. Last year me met Henrik & Big Sutton in the Thistle…..
Paddy T
hamilton tim
Happy to oblige.
johnnyclash
Plain with the outsiders.
mncelt
You’ve got to look at France.
albertkidd
Lubo’s first Old Firm game was unforgettable. He scored twice in a 5-1 win. He was a real entertainer.
sftb
We need quality players at this moment.
tokentim
I wouldn’t change my career for anything.
auldheid
Admired everything Jackie McNamara has achieved at Dundee United. He has given the area a lot of passion again. Unlucky in the Scottish Cup Final, but his time will come.
paddyturner
Snowball fight at Cathkin Park? Snow joke!
parkheadcumsalford
Yes, it happened. It was a ploy to try to get Clyde to come out of defence because they didn’t want to cross the halfway line. Big Jock didn’t appreciated it, though!
Bertie thanks for the memories today,
It’s great to hear you remember the supporters club dinner dance that I mentioned as I am sure you have been to countless ones over the years.
You came across that night as such a humble and genuine man who was only too delighted to spend so much time with the supporters
You impressed on me and my pal how important the fans are to Celtic and gave us Irish based fans that added incentive to keep on travelling over to matches even though times are very hard for an awful lot of us over here.
And ALL the women LOVED ya!!!!!
as I said before
LEGEND
Hail Hail
What a round-up to get on! It started in February 1955 and today has been one of the great days because I have been with the Celtic Family all day. Thanks for all your kind comments it’s been marvellous to walk down memory lane with you all.
Thanks must also go to Doc who played a blinder. I couldn’t have done it without you, Doc. You might have got on the substitutes’ bench in one of our big games.
See you tomorrow at the Celtic store with Big Tam and Yogi at Argyle Street. Look forward to it. Bertie.
Bertie, glad I stayed up with matchsticks in my eyes. The answer to question that you were asked back in the murky days was… If the lions played the hun nine in a row team what do you think the outcome would be?
Your response was brilliant… Probably a draw as the we are getting on now… Class. HailHail
Bertie
We always enjoy your visit’s to the Toronto club.
Thanks for all the precious memories which we cherish.
Hope to see you soon, legend.
Hail Hail
from the ‘fishal web-site
RIO Ferdinand is not someone you would imagine is prone to being star-struck.
As one of the most successful defenders in British football, Ferdinand’s 12-year stay at the heart of the Manchester United defence saw him collect amongst others, a UEFA Champions League Winner’s medal, six Premier League titles and two League Cups.
He has also faced some of the world’s best attackers both domestically and with the England national team across a distinguished 81-cap career. But it seems, despite his many achievements in the game, that nothing prepared him for meeting one of his bhoyhood idols.
During a stop in Australia as part of last year’s pre-season tour with Manchester United, the defender saw a familiar face in the shape of a mild-mannered football fan who was touring the training ground with his children.
And in a mix of excitement and disbelief, a stunned Ferdinand blurted out – “that’s Paul McStay!”
Now, as he looks forward to a special charity game later this year where he will lead his own select XI out against a Celtic team led by the Maestro himself, Ferdinand recalls the moment he met his hero and explains his love for the Hoops.
He said: “When I was a kid, I always liked Scottish football – I don’t know why.
“I would watch Celtic quite a bit and I used to collect the Pannini stickers and, there was Paul McStay, he was just a great player. He never looked flustered, he was just classy and always looked above everyone else on the pitch.
“I always thought he never got the respect and adulation he deserved. I can see why, because he’s not really one for putting himself out there, he’s a little bit like Paul Scholes in that respect but for me, he was a top player.
“It was weird because we’d finished training and I’d walked in to get a massage. Paul was walking around getting programmes signed with his kids and I said to the fella that was stretching me, ‘that’s Paul McStay’ and he didn’t know who he was.
“Then Jimmy Lumsden, who was a coach under David Moyes and is a Scot, came in and I asked him and he said that it was Paul McStay. I said he had to get me his autograph, get me a picture or something with him.
“The rest of lads were coming in and they had no idea who he was. They were walking past him like he was no one but he was better than them. They were asking who he was but I said I wasn’t going to waste my time explaining, I’m going to get a picture with Paul McStay.
Paddy Turner
Marches on Tuesday!
I don’t usually start drinking ’til about 10 in the morning!
Anywhere safe roundabout CP we can go for apre dinner or can we access another lounge at the ground before we go to the No 7?
Also what is the dress code?
Many thanks!