A statement to the stock market by Rangers International today confirmed that they are not a sustainable business, have no bank credit facilities and are unable to accept debit or credit cards for season ticket purchases.
These revelations contravene SFA licence requirements, which would need to be met if the club wanted to participate in Scottish football in season 2014-15. Before attaining a licence for the forthcoming season a club must demonstrate that is has the finance available to complete its commitments. Newco Rangers have confirmed they are currently unable to meet this requirement.
Perhaps anticipating their next move, the statement added, “Should the Club suffer a substantial decrease in season ticket income in the next two months, then it would be unable to trade in the short term without seeking additional external funding”. You suspect this two month timeframe will prove to be significant.
That supporters who chose to automatically renew their season tickets cannot do so is demeaning. The financial uncertainty behind a season ticket purchase is such that people have been asked to pay by cash, cheque or direct bank transfer. Utterly, utterly, demeaning.
I sincerely hope whoever is in charge of taking money from fans is in a position to pay them back in the event the club fails. With this weight of evidence, to bank and spend the money regardless would be despicable.
A few points to bear in mind:
No one is in control of this situation, it was not planned for and there is not a silver bullet to resolve things.
The shareholders and are not a homogenous unit, they have different priorities, aspirations and stress points.
These two things being the case, any amount of carnage can take place once the inevitable crash occurs.
The only plan I can think of goes along the lines of, “Hail Mary, full of grace……..”
Sandy Jardine
I know several CQN’ers were good friends with Sandy Jardine, each of whom assured me of the man’s good character. Sincere condolences extended to all his family and friends.
Signed copies of Yogi Bare – John Hughes autobiography, are available now:
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Steinreignedsupreme………………
“Shipbuilder’s Day”
..Kwality.
Aye – (Lest We Forget)
Tory. Labour.
People clinging to past times. Only difference I can see is in the name.
Same manure – just spread differently. Same result.
“New” Labour ARE a right of centre political party por cierto
I have only read the last two pages but I think some kind of record has been set for non-Celtic related posts on the eve of a game.
More and more, CQN is becoming a chat site where the dominant topic is Independence.
Will Boerigter suddenly blossom?
Will Fraser still be here next year?
Will Griffiths be retained?
Will we have a standing area?
Will Celtic FC begin communicating with the fans?
JJ
goldstar10 11:43 on 26 April, 2014
“Or commemorate Canada Day to honour the 2 soldiers.”
Ha Ha Ha
Those auld sojurs must be turning in their graves at the carry-oan at Ibroke…
Pogmathonyahun aka Laird of the Smiles
11:33 on
26 April, 2014
Roll up, Roll up, see the amazing The The
*********
There is more than Cards not acceptable over there.
What a shabby looking operation.
ItaliaBhoy
11:41 on 26 April, 2014
Sevconites will vote NO…..good luck with that.
bamboo
11:43 on 26 April, 2014
Indeed!
Struggled to sleep last night, hence late on the go this morning
Still can’t get over the fact we will be dominated by a new team with recycled fans by season 16/17, me I’m devastated by that report yesterday
Celtic what are you going to do to react and sustain our Club :-)
Hail Hail
Ps- happy birthday to my niece, Shannon :-)
Ernie Lynch
I get the feeling your beginning to waver. We’ve all been conditioned and were scared to grab the freedom that is within our grasp.
Jungle Jim
11:50 on 26 April, 2014
I have only read the last two pages but I think some kind of record has been set for non-Celtic related posts on the eve of a game.
More and more, CQN is becoming a chat site where the dominant topic is Independence.
Will Boerigter suddenly blossom? PUNT
Will Fraser still be here next year? MAYBE
Will Griffiths be retained? SHOULD BE
Will we have a standing area? GOOD IDEA
Will Celtic FC begin communicating with the fans? EVEN BETTER IDEA
JJ
You certainly have a point there! :-))))
HH
Gerry
italiabhoy 11:41
Yes, there remain a large number of right-wing anti-Catholic bigots in Scotland
Two things strike me here
1) they do not form enough of the electorate to form a legitimate threat
2) there also are a large number of left-wing anti-Catholic secular intolerant bigots in Scotland who are more of a threat to the Catholic community than Sammy fae Larkhall, eg Harvie and the like
Square Slice @11.49.
“Credit Card Display proudly held aloft to Sevco fans at all football grounds in Scotland.
A bit of payback for the ‘every fiver ”
————————————————-
Great wind up.
No Credit / Debit facilities Very apt for the huns as they always sing about the past, well now they’re living in it.
HH.
goldstar10
C-E-L-T- I-C celtic I see celtic I see celtic……………..
Auldheid, I see Wallace is being painted as the baddie. Another chocolate soldier story created to cover the real illusion. I think he may be the last. Surely the people realise that now?
The little less than 3.5m supposedly left … Surprising that season tickets have been on sale for how long? How many have they sold 6000? How much was left in the bank before the season ticket money came in? You can guarantee the Easdale loan has been paid back or are they retaining that for security over assets when the inevitable happens.
The longer this goes on the more I think the end game is no mor Rangers. After all why not admin now, take the points hit and move on with a better model. They have presumably paid this months wages so will lurch on until May. Avoiding an insolvency event means taking enough season ticket money to last them until they can raise further cash. 3.5 million with further season ticket being sold subject to the gullibles further gullibility… Two further months plus a dod left over in July. Not looking good to say the least.
….so that’s Red cards…. and credit cards not acceptable at Asbestox now?
I saw the Easdales leaving their house today for the poverty celebration at Ibroke and noticed three police cars in close attendance, so were they watching the brothers, or expecting trouble from the great unwashed after yesterday’s announcement?
Leftclicktic
My son and grandson are boxing in your toon. Next time I’m up, I’ll pop through to see them and catch up with ya furra coffee :-)
Leftclicktic
Naturally they’re not boxing each other:-))
leftclicktic- you are digging them out now.
Aff oot to hack ma way round a course under a threatening sky.
squire danaher
11:47 on 26 April, 2014
Well the nats aren’t going away, they’ve made that clear.
And I think even the most demented of them would concede that if they win it will be by a whisker (my own prediction is a surprisingly large no vote, but we can revisit that on 19th September) so it follows that it will be a live issue.
From memory Brian Wilson mentioned it in this programme, though I may be wrong. I think he suggests that political division would be along the lines of what happened in the Republic.
http://www.youtube.com/watch?v=jNeWvU1UQdQ
There’s more of Brian Wilson’s view on the issue on here. I’d like to think that any Celtic fan, irrespective of their views, would be interested in what he has to say.
http://www.youtube.com/watch?v=QPFwW9KNZaY
ernie lynch when I was old enough to vote there only a very few Tory seats. Vast majority was Labour. Scottish Labour could be a mighty power in an independent Scotland. Just sayin as the kevjungle would. Like I say not my call.
On another note my blue nose cousin has definetely not renewed. Good for him for finally working out he’s just giving his hard earned to the spivs but also tells me that extra helpings of Jelly and icecream with copulous measures of hundeads and thousand are on the way.
Championees, championees ollay ollay ollay.
If we can keep big FF nextb season could be interesting in the champions league. We have a right strong team ,another year to bond and build and we can dream.
bamboo
11:53 on 26 April, 2014
Ernie Lynch
‘I get the feeling your beginning to waver.’
###
I suggest you check your medication.
My friends in Celtic,
Just viewed a cracking picture to promote the EPL from the beginning of the season.
AVB, Ian Holloway, Chris Hughton, David Moyes and Martin Jol
Lol,
HH.
Credit card display while singing:
Does you don’t you, does you don’t take access. Doo doo doo.
So with 30 odd thousand bears strolling around Govan with about 400 quid each in their back pockets for the next month or so it’ll be interesting to see what impact there is on local crime statistics and demographics.
Bamboo. Scotland would still be part of the capitalist world. Or are we going to be different from every other country. A glorious nirvana where everything is free and fab?
Oh and I loved the line we can deal with the sectarian stuff later. Oh really? How will we deal with that when we are a very small minority.
Are you a member if the deluded CSC?
Jungle Jim
11:50 on
26 April, 2014
I have only read the last two pages but I think some kind of record has been set for non-Celtic related posts on the eve of a game.
More and more, CQN is becoming a chat site where the dominant topic is Independence.
Will Boerigter suddenly blossom?
Will Fraser still be here next year?
Will Griffiths be retained?
Will we have a standing area?
Will Celtic FC begin communicating with the fans?
JJ
Agree with you JJ
Nothing to do with Independence, but in answer to your questions, I say
Yes
Yes
Yes
Yes
Yes
Well, I live in hope.
Neil Young – Live Rust blaring out in Chez Steinreignedsupreme at the moment.
I haven’t read the full shistertament of the 120 second review but I gather that a figure of 3.5 million cash is mentioned. Is this from December 2013 or March 2014? If 30,000 deluded and sad zombies sign up that would bring in around what 7 million. Hardly enough to pay the Board and SuperSalary. Goneburgers.
I have only read the last two pages but I think some kind of record has been set for non-Celtic related posts on the eve of a game.
More and more, CQN is becoming a chat site where the dominant topic is Independence.
Will Boerigter suddenly blossom? No
Will Fraser still be here next year? No
Will Griffiths be retained? Yes
Will we have a standing area? Yes
Will Celtic FC begin communicating with the fans? Hope so
JJ
I will be watching the Toffees today. Anybody volunteering to be on riot alert ?
I presume the pigs have already been paid for ?
Thanks
HH
Had a dream last night celtic reached another uefa cup final
We were playin napoli and it went to penalties
Jackie mcnamara missed the decisive kick which for some bizarre reason he took from my old living room
Dreams eh
Weird
B-)
Season Ticket – £400
XXXL Replica shirt – £50
World War 1 Scarf – £8
Belly Laughs – Priceless
My friends in Celtic,
Hypothetical questions :
In this modern era, how would you sign a player without banking or credit facilities.?
How do the “players” get paid ?
HH.
Greenpinta
Boxes of monster munch and free Greggs pies
HH
Jungle Jim, If you are taking a poll on your 5 questions, I concur with each of Aiden Bhoy’s responses including the Hope so.
steinreignedsupreme
12:20 on 26 April, 2014
———————————–
Excellent album, I love listening to it in the car.
Have any of the Tim artistic wags managed to do one of those ‘Priceless’ pictorial gags yet regarding the credit card scenario at the Mega Casino?
Anybody else finding it hard to have a conversation with them from the darkside ? Met a long term friend today he was waiting for his bus to go to ipox .Just having a catch up general chit chat then I asked him who they were playing “Stranraer ” he says.Had to walk away I just couldn’t stop laughing.