Henderson attempts to buck Celtic youth syndrome

624

For as long as you or I can remember, Celtic’s youth teams have had a fearsome reputation, winning countless titles, even with Kenny McDowall as head coach, but something inevitably goes wrong.  Clubs like Dundee United, Hibs, Hearts and even Hamilton Accies have a better record of graduating prospects, despite having a poorer youth team to pick from.

The other fearsome reputation we had, was that Celtic was one of the places young talent came to wither on the vine, before shuffling off to a minor club at around 21-years-old.  Where would you send your boy, Celtic or Dundee United………?

The argument goes that clubs like United have more opportunity to blood young talent than Celtic, who for long periods of the last 20 years were locked in an all-or-nothing battle for supremacy, or the need to reach the Champions League group stage, or the next level of the Champions League.  This theory doesn’t stand up to scrutiny, though, as clubs with higher still demands are able to mature young talent through first team exposure.

The truth is it’s never been a first team priority, as we have been caught in a ‘buy success’ mentality for close to 30 years.

Still only 18, Liam Henderson has as much chance as anyone who have come through the ranks in the last couple of decades of making it as a top player at Celtic, but he needs to be stretched by playing competitive senior football over the next three years, cameo appearances here and there will not provide the platform he needs.  A few months at Rosenborg, who kick off a new league season on Monday, will give him opportunities he’s not going to see at Celtic between now and the end of the season.

Did you see what newco director, Paul Murray, did with his stock market announcement yesterday?

He wrote, “‎I have been informed by Deloitte, the existing auditor, that they informed the previous Board of their intention to resign following the June 2014 audit. The previous Board chose not to announce this nor did they find a replacement for Deloitte. With limited time to have these results reviewed the Board asked Jeffreys Henry to perform the exercise as Independent Reporting Accountants, not auditors.”

On reading this many were inclined to conclude the reason Deloitte did not act as Independent Reporting Accountants for their interims was because they had left the building.  Not so.  Murray later confirmed to a Daily Record financial reporter (not the football guys) that Deloittes are still newco’s auditors.  I am sure there is a perfectly good reason they didn’t sign off the interims.  Maybe they were busy that day.

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  1. Geordie Munro on

    “An extra £16.32 for the 7 tickets I ordered this morning”

     

     

    Gary67,

     

     

    You are one of the lucky ones. You can spread the cost. Some guys might just be ordering for themselves.

     

     

    HH

  2. foghorn leghorn on

    Gary67

     

    13:14 on

     

    1 April, 2015

     

     

    Hampden don’t do re-prints so if ticket goes missing you’d be left ticketless. That’s the reason they give for all tickets must be posted by recorded delivery.

     

    If its a game at CP you have the option as Celtic will re-print lost tickets

     

     

    —————————

     

     

    you can phone the number i gave in my earlier post and opt to get them sent non-recorded delivery.

     

     

    but as you said if they dont arrive you will be ticketless, but as i said, i would take my chances with our magnificent postal service for a game against ICT!!

  3. leftclicktic on

    Celtic Football Club@celticfc ·

     

     

    Celtic manager Ronny Deila spoke to the media today ahead of Friday’s clash against

     

    saint mirrenfc

     

    —————-

     

    RD: “It was a good week off and we’re hungry to get back again and start playing games.”

     

    —–

     

    RD on Liam Henderson’s loan move to @Rosenborg: “They called me and asked if we had a midfielder that could be available for them.”

     

    ——–

     

    RD: “Liam is a very talented player and he needs games. This a good move for him as we have a lot of options in midfield.”

     

    —–

     

    RD: “He can play now until the 1st of July. He will get experience and it’s the biggest club in Norway with high expectations.”

     

    ———-

     

    RD: “Liam was keen on the move and that’s what’s good about him – he is so ambitious and he wants to play and develop all the time.”

     

    —-

     

    RD: “This is a good move for him and I made it clear that it’s not that I don’t want him but it’s good for his development.”

     

     

    RD: “I know it’s the best for him and the club as well.”

     

    ———

     

    And looking ahead to the Player of the Year awards the manager added: “It’s hard for me to judge.”

     

    ———-

     

    RD: “There are many good performances and players in different positions so I’d rather talk about the team.”

     

    —–

  4. leftclicktic on

    !!Bada Bing!!

     

     

     

    13:13 on 1 April, 2015

     

     

     

    You can go to Ticket Office if you can manage,no fees.

     

    Open till 5pm

  5. Kremlinology:

     

     

    On 18 March, Bill McMurdo – a relatively sane and very well-connected Rangers blogger posted a remarkable piece. Among the points he made:

     

     

    My understanding is that the cash situation at Ibrox is critical.

     

     

    The word is that HMRC have not been paid for last month and there is not enough cash to pay wages at the end of this month. [£1.5 million “working capital” came in from three directors a few days later.]

     

     

    Sports Direct will only advance money from the £5m facility if due diligence is satisfied. That will be a problem considering the short time scale. [I wonder if this due diligence was commenced?]

     

     

    The new board appear to have counted on full houses at Ibrox . Even if that had happened there would have been a £200k deficit per month. Last night’s attendance (Rangers v Alloa) was 28,000. Many of these seats would not be paid for on the night. The monthly deficit is therefore much greater than £200k eg £300-£400k.

     

     

    We also still await the announcement of the new Nomad. Every day that goes by brings the threat of delisting much nearer. [Still waiting.]

     

     

    My information is that at least one person has turned down the CEO job due to the dire state of funds.[Not denied.]

     

     

    You also have to wonder why the print media are not giving the incomers the same level of scrutiny as previous boards. [Indeed …]

     

     

    Dave King’s return to South Africa has not helped. [It’s autumn in the southern hemisphere: maybe he’s looking at the pretty colours as the leaves turn and fall?]

     

     

    The clock is ticking and this time Rangers’ very existence is at stake

     

     

    Since 20 March Mr McMurdo, previously an assiduous blogger, has not been heard from. Some say he’s been sent to be assistant button-pusher at a Siberian power station, others that he’s locked up in a windowless basement room in a Lubianka annexe just off the Copland Road. I’m sceptical about reports of a mystery man with an ice pick.

     

     

    And Stalin only had five-year plans.

  6. tonydonnelly67

     

    13:11 on

     

    1 April, 2015

     

    12:15 Ffs man, that’s shocking, more so for the Cally mob, now that you mention it I do remember. What a rotten time for a gala game, you know what time the sat semi is?

     

     

    No trains reach Glasgow in time for the KO from Inverness !!!!!!!!!!!!1.

     

    How bad is that planning?.

     

    Should we be surprised,when you see the dates for the Play-Offs.

     

    Unfit for purpose,does not even come close.

  7. Hi ghuys, I was recently (Jan 19th) given a FIxed Penalty Offer, for a driving offence,( going through a red light), and “accidentally” threw the pink ticket out. Today I received a letter from the PF’s office, once again offering me the “28 days to pay” offer. My question is this, a couple of friends have told me, that the courts have 6 months from the date of the offence, to get me into court to try me for this offence. Does anyone out there know if this is true or not?

     

     

    Obviously I’m hoping it is true, but I would prefer to hear from someone more knowledgeable and experienced in these matters.

     

     

    If my only recourse is to go to one of these Road Traffic Lawyers, then I’ll just pay the revenue-raising, disproportionate and unfair bloody fine!!

     

     

    Cheers in advance

     

     

    HH

  8. Jungle Jim Hot Smoked on

    “So I’ve not to send my bank details to Prince Jobo of Botswana then?”

     

     

    I wish you had told me that earlier.

     

     

    JJ

  9. Tom McLaughlin

     

    13:11 on

     

    1 April, 2015

     

    Just to add, the ₤1.50 per ticket internet charge has nothing to do with Celtic FC. It is levied by the company running the website and goes to them.

     

     

    As I said, I am happy to pay the recorded delivery charge because without it, tickets do disappear and Hampden/SFA tickets carry a gold digital microchip rather than a barcode, so cannot be reprinted.

     

     

    Well someone awarded them the contract.

     

    And no doubt they did some lobbying, whatever that entails to get the contract.

  10. West End of East End on

    TD67 – Q was about an hour & a half this morning, wasn’t too bad as it was dry…

  11. leftclicktic on

    Celtic Football Club@celticfc

     

     

    VirgilvDijk also addressed the media at Lennoxtown ahead of Celtic’s return to action against St Mirren on Friday.

     

    —–

     

    VvD: “It was nice to get a break and get away from this weather!”

     

    ————-

     

    VvD: “Personally I have played a lot of games this season and it was good to get a week off with my family and I enjoyed it.”

     

    —-

     

    VvD: “The games against Dundee United were quite tough. We faced each other a lot in a row but we did well.”

     

    ———–

     

    VvD on St Mirren: “Every game is different for us but we need to be up for it & perform well like we did in the last couple of weeks.”

     

    ——–

     

    VvD: “I have made a lot of progress this season but I made big expectations for people to judge me.”

     

    ———

     

    VvD: “I enjoy every day here and there is a big chance we can win the treble. This is what I want.”

     

    ——–

     

    VvD on Jason Denayer: “He has learned a lot and is playing well. He was a new boy here and didn’t know anyone.”

     

    ——

     

    VvD: “He was very young and it was very difficult for him, but he has been doing great, especially in the last few weeks.”

     

    ——-

     

    VvD: “Very happy for him. It’s also a big compliment to everyone in the team that he got his debut in the team – as it’s a team game.”

     

    ———

     

    VvD: “Saw the highlights of the national team and they were struggling but difficult to say something about them as I’m not involved.”

     

    ——-

     

    VvD: “I will just keep playing. I want to win the treble and make history and that’s what we all want to do.”

     

    ———

     

    VvD: “I want to do well for the club and the people around the club and myself. I want to win games and develop.”

     

    ——

     

    VvD: “We are doing very well at the moment and we need to keep going.”

     

    ——-

     

    VvD: “I just enjoy playing here. I am just 23 & am learning every day. I want to be a better player and human being.”

     

  12. Nomad Search…….Day 24

     

    The King’s search for a Nomad continued today with the King visiting Royal Johannesburg golf course.

     

    A hooked shot into the water at the tricky 6th, had his caddy retrieve his ball from a ticking crocodile which refused to divulge the location of any Nomads.

     

    In the club house over a Castle lager and a boerwurst, Mr King met with OJ Simpson who related his own experiences searching for his wife’s killer on golf courses all over the USA.

     

    Tomorrow the quest will continue with a visit to Randpark GC after a meeting with SARS.

  13. Long post from this time last year (with a few amendments) for the gum bumpers. :-)

     

     

    “It was a bright cold day in April, and the clocks were striking thirteen.” ― George Orwell, 1984

     

     

    “We are a stand-alone Club financially” – but then no subsequent statements on the demise of Oldco! Whilst I am ready to question the Board’s Accountability on this point and the Club’s poor P.R. – it’s worth considering the subliminal messages they have highlighted these past 3 years.

     

     

    Interesting reading when you look at the CFC bullet points made (trumpeted) since reaffirming our unique stand-alone position – maybe we haven’t appreciated them:

     

    • An excellent set of financial figures these past 3 years (more than likely similar this year).

     

    – £100 reduction on ST prices + concessions

     

    – More sensibly priced Cup tickets.

     

    • Singular Sponsorship deals for 5 years – our highest ever income from these streams;

     

    – Magners

     

    – New Balance.

     

    • Refurbishment of the stadium and surrounding areas.

     

    • Extended contracts for the majority of our key players.

     

    • Further Investment in Lennoxtown; youth schemes and management.

     

    • Premium returns on player sales and further investment in the next batch.

     

    • Charitable participation and support of numerous fan-based incentives.

     

    • CL participation and the plaudits that came with it;

     

    – European brand exposure on Sky/BT etc.

     

    – Worldwide Coverage of the Barca interface during our 125th Celebrations; St. Mary’s, e.g. Xavi, Iniesta and Messi pictured in our Trophy Room + their endorsements/ quotes (incl Puyol etc).

     

    – Lions going courtesy of the Club to the CL Final in Lisbon.

     

    – Resultant pre-season friendlies etc against; Real Madrid, Liverpool, Galatasary – no doubt with similar lined up this year.

     

    – UEFA/ Deloitte Rankings; improved co-efficient, AIM Listed finance and FFP standings, stadia/ match-day experience, fans, tifos etc.

     

    • Management Development; UEFA/FA get-togethers, TV appearances on; SKY/BT/BBC/RTE.

     

    • Players selected for the 2014 World Cup and 2016 Euros.

     

    • 3 Titles and a possible Treble!

     

     

    The above can hardly be described as the workings of a ‘self-interested’ Board or an unimaginative CEO – now I’m pretty sure I’ve missed a few other ‘unique’ points made (feel free to add).

     

     

    Let’s compare and contrast with the above:

     

    £70M Squandered Floatation following;

     

    – Administration.

     

    – Liquidation.

     

    – UTT Decision pending.

     

    – Court Litigation; Deeds, Ticketus, ex-Director (and more to follow).

     

    – Aided and abetted by a cast of villains.

     

    • Debt racked up and expenditure @ circa £1.3M per month.

     

    – Increases ST costs – ST sales withheld – strife?

     

    • The latest Board yet to be deemed ‘fit and proper’ – previously failed directors (including one described as ‘glib and shameless’ by a High Court Judge).

     

    • Likelihood of being delisted from the Aim Market – worthless shares.

     

    • Every asset that’s not ‘nailed down’ hawked to Ashley in a series of loans (worthless Merchandising contracts).

     

    • Sponsorship replaced by Red32 (the number next to Zero on a roulette wheel).

     

    • Maintenance and alleged H&S issues.

     

    • Wage-cuts/ onerous contract terminations?

     

    • No scouting investment.

     

    • No player sales – no purchases (free-contracts).

     

    • Questionable charity misuse of funds.

     

    • No European football and the possibility of failure to get Promotion;

     

    – No brand exposure.

     

    – No European comment – apart from their fawning ex-players.

     

    – No glamour invites.

     

    – No ranking – ineligibility to participate.

     

    • Scottish MSM fawning coverage of the fiasco.

     

    • Players can’t even get picked for Scotland friendlies.

     

    • How do you honour ex-players who milked their club via EBTs?

     

     

    Now their list is by no means exhaustive – but I can’t find any comparisons relating to the; non-payment of taxes, stiffing creditors (including their own shareholders/ supporters), obscene wage payments to directors, managers, players – throw in; lies, threats, manipulation and complicity by the Game’s Governing Bodies when I look at our CFC Board performance.

     

     

    In Summary :

     

     

    Certain CFC Supporters believe they have an insight to all that goes on within the Club – have a belief that they are privy to the inner workings (on finance/ politics/ strategy) and therefore their interpretation should be taken as FACT when they take the Board to task. Complicity? Collusion? Avarice?

     

     

    21 years ago Celtic Supporters had their questions answered – the Old Board were removed. As a result, conduits are now in place to ask questions – make use of them; as shareholders, as season-ticket holders (customers), via the SLO or CST instead of ‘bumping your gums’ on a blog if you want answers.

     

     

    Remember – a Football Club is the sum of many parts and a multitude of conflicting views!

     

     

    KTF!

  14. The Battered Bunnet on

    Over on TSFM, Barcabhoy has raised a really interesting point. Two actually, but related. I’m sure he won’t mind me reposting it below.

     

     

    For context, the legal situation at Rangers Retail is rather ‘complicated’ at the moment, and may be the topic of further news in due course. Meanwhile, Barcabhoy:

     

     

    Barcabhoy says:

     

     

    April 1, 2015 at 9:43 am

     

     

    The RIFC accounts seem to me to potentially contain a significant error . The accounts are consolidated to include contributions from subsidiaries.

     

     

    Rangers retail is treated as a subsidiary and revenue and cash figures are included in the P&L and balance sheet. I would need another look to check whether any profit contribution has been included

     

     

    However the rules on consolidation state that the Group entity must have financial control over the subsidiary. Given the voting nature of the shares in Rangers Retail , which provides for SD shares to count as double on financial matters , then financial control has very clearly been with SD since formation.

     

     

    In my view this would preclude Rangers consolidating the Rangers Retail figures into the RIFC accounts. In fact if this is correct RIFC have produced incorrect and misleading accounts since inception. Maybe Deloittes have realised this and were insisting on prior year adjustments.

     

     

    Moving forward , given SD now hold 75% of the equity the position is even clearer. Should that remain the position then retail revenues would not be shown on RIFC accounts in future.

     

     

    However as long as the B shares hold double voting power then the retail revenues should never be consolidated into RIFC in my view. This would have implications for the balance sheet and a highly detrimental effect for any future discussions with potential lending institutions

  15. Geordie Munro on

    Td67,

     

     

    I’ll bet the pupil doesn’t have the balls to attempt that again :)

  16. It seems that Spiersy reckons the huns will win the Premier league in around 18 months time- has he been snue gliffing???

     

     

    extract from the herald!

     

     

    My own view has always been that Rangers might do five or six years of penance – or time in the doldrums – for the sins of the old Rangers FC plc. But 10 years?

     

     

    This is early April, 2015. Surely to goodness the club can be strengthened and restored well before 2022? It cannot – and need not – take so long.

     

     

    With a good football manager in place, and the club’s finances being carefully nurtured, there is no reason why Rangers could not be back vying at the top of Scottish football and winning the Premiership in either 2017 or 2018.

  17. thomthethim for Oscar OK on

    Johnny the tim,

     

     

    A couple of years ago, I drove through Glasgow , for the first time in about thirty years, in a car hired from Europcar.

     

     

    A few weeks after I returned home, I received a letter from the company, advising me that I had entered a bus lane in Cathedral St.

     

    In order to halve the fine, with prompt payment, from £60 to £30, they paid on my behalf.

     

     

    The Bill read,

     

     

    Fine = £60

     

    Early payment = £30 discount.

     

    Balance paid. =£30

     

     

    Europcar admin. £ 30

     

    Vat. £6

     

     

    Total charged go Visa = £ 66.

     

     

    Thank you….kerching!

  18. angelgabriel on

    Delia.

     

    So Mc Murdo is missing ?

     

    Another blogger from the dark side called Ninjaman is certainly not “on side” with the propaganda. His latest offerings were highly critical of the real ranjurs men currently at the helm of the ship called Sevco.

     

    This pair have a better grasp of reality than yon Richard Wilson on BBC shortbread.

     

    His interpretation of the published accounts. The benign questions to Mr McCall and championing of the Valencia assistant manager(Scottish guy Cathro) to be the next Sevco manager were an insult to anyone listening.

     

    Does Richard have an LSD or any other hallucinating drug habit. ?

     

    As a license paying customer we should be told. HH

  19. The Battered Bunnet on

    Jonny the Tim

     

     

    An alternative view: If there had been a child crossing the road at the time you ran the red light you’d be serving 7 years.

     

     

    Pay the fixed penalty and count your blessings.

  20. bournesouprecipe on

    battered bunnet

     

     

    10:59 on 1 April, 2015

     

    A wee wander round the numbers for a minute, bear with me…

     

     

    The question at hand is: Is there a business model for a football club playing out of Ibrox Stadium that delivers both success on the park and financial sustainability?

     

     

    In this context, success on the park is a little subjective, but might be measured in terms of trophies won and participation in Europe, while financial sustainability is more easily defined as being able to operate year on year without resort to other people’s money.

     

     

    Let’s start way back in 1996. Two reasons: Firstly, this is the year that David Murray first determined to take Rangers “to the next level” and brought in £40M of new money from ENIC for this purpose.

     

     

    Secondly, it marks the point in time when Celtic were re-emerging as a valid competitor on the pitch after 6 years in the grubber.

     

     

    Period 1 runs form 1996/7 to 1999/2000. On the field, the team won 3 out of 4 Championships and a handful of cups, although European football remained less rewarding. While at the end of the period Rangers were at the same level on the pitch as they were at the start of it, thus the project hadn’t delivered its objective, nevertheless, 3 out of 4 Championships and regular Champions League participation meets the criterion for football success.

     

     

    Off the field though, Rangers managed to run up losses of a quite unbelievable £70 Million.

     

     

    Clearly, the onfield success was paid for by an unsustainable business model.

     

     

    Period 1 fails the test.

     

     

    Period 2 runs from 2000/01 to 2006/7. During this period, while the club ran through 3 managers – Advocaat, McLeish and Le Guen – the period is characterised by a series of extraordinary financial measures. A series of large scale equity issues, a debt-equity swap, and the securitisation of the club’s merchandising occurred during what I’ll refer to as part 1 of the EBT years.

     

     

    The football team delivered 2 Championships in 7 years, a handful of domestic cups, and notably, qualified through to the knockout stages of the Champions League. I’m going to guess that 2/7 Championships doesn’t represent ‘success’ for the supporters, not least the ‘ignominy’ (everything’s relative) of finishing in 3rd place in 2006 and suggest that this period saw fleeting success on the pitch, with the team in Celtic’s shadow for most of the time.

     

     

    Off the pitch, Rangers’ losses for the period ran to a scarcely believable £90 Million. Insolvency was avoided by loading £50M of debt onto parent company MIH, and selling the jerseys in a 10 year deal to JJB Sport.

     

     

    The losses would have been considerably greater had Rangers not benefitted from £38M of payroll savings in the period through the clever, cunning use of EBTs to pay staff. An alternative view might be that the payroll itself might have been £38M lighter across the period had the scheme not been introduced.

     

     

    Despite the extraordinary financial measures, Period 2 fails both the football success and financial sustainability criteria.

     

     

    Period 3 is characterised by the return of Walter Smith as manager, running from 2007/08 to 2010/11, ending with the sale of the club to Craig Whyte. LEt’s call it the EBT Years part 2.

     

     

    During this period, Rangers won 3 out of 4 Championships, got to the final of the UEFA Cup, and participated in the group stages of the Champions League 3 times. That record certainly meets the football success criterion.

     

     

    Off the pitch, the club ran down the use of EBTs, then ran them back up again, finally bringing them to an end in 2011. Losses for the period ran to £1.2M, but hide a yo-yo set of returns over the period with the club variously £7M in profit to £12M in loss dependent entirely upon participation in European competition.

     

     

    Similarly, debt moved from a low of £16M to a high of £33M and back to start again as cash swung as erratically as results in Europe dictated. A further £5.5M was saved from payroll costs using EBTs.

     

     

    Period 3 is characterised by, on the one hand, football success, and on the other, a financial model reliant entirely on participation in the Champions League.

     

     

    Period 4 is short lived. Craig Whyte arrived in May 2011, and the Administrators followed in behind 9 months later.

     

     

    On the pitch, Rangers blew a 15 point lead in the Championship to finish 20 points off the pace, a swing of 25 points over 5 months netting the effect of a 10 point penalty for going into administration.

     

     

    Off the pitch, Rangers disintegrated. The causes are hotly debated, but the singular defining event was the failure to reach the Champions League, and thereafter the absence of debt or shareholder facilities to cover the resulting losses.

     

     

    It should be pointed out that Whyte continued the same business model as the previous regime, loss making on domestic income, and profitable only if there was significant Champions League income.

     

     

    Given the catastrophic effects of being knocked out of Europe – Catastrophe means losing the business – we ought to view Whyte’s short tenure as a continuation of the previous model, and thus, the previous model fails the sustainability test.

     

     

    Ultimately, it was built on sand, and collapsed when the tide inevitably did its thing.

     

     

    Since then of course, we’ve seen a new club emerge from the bottom up. It has burned through all of its shareholders’ capital, and requires continuing emergency funding to continue in business.

     

     

    Football ‘success’ in the period is entirely subjective, with Division 3 and 2 titles in successive years doubtless precipitating great delight, followed by a top 4 finish in division 1 this year. Promotion to the top league remains to be decided.

     

     

    The word is that, under new Chairman Paul Murray, things will change. Murray has stated that he is intent on returning to the business model implemented during his time on the board of the old club, the period 2008 to 2011.

     

     

    That’s Period 3 and 4 above, the model that turns on Champions League income.

     

     

    Entry to the Champions League is now restricted to the winners of the League Championship, who then have to win through a series of qualifying ties.

     

     

    In the meantime, the club requires to finance a football team that is capable of winning the Championship from a loss making business model. Further, it appears as though the major income stream that is Merchandising is in large part owned by another company, reducing annual income by around £5M per year until 2018 when the deal expires.

     

     

    We should also point out that in the context of the finances of the current Scottish Game, Number 1 is all. Number 2 is nothing. A major input of fresh capital that results in the team placing no better than second in the league corresponds to an unsustainable series of loss making years.

     

     

    If we are to believe Murray – that the new club will win the Championship within 3 years, and (his fingers are crossed) participate in the Champions League – we also need to recognise that Champions League in this context is a one-off event, not a steady state.

     

     

    Allowing an Evens chance of a highly capitalised Ibrox club winning the Championship from season 2017/18, and a subsequent Evens chance in those years of winning through to the Champions League, we can anticipate between 2018 and 2021 that the club might have won 2 Championships and have 1 appearance in the Champions League in the 4 year period to 2021.

     

     

    In short, the club will require to finance a team capable of winning the Title – 3 years of losses under Murray’s model – followed by three years where they will feature in the Champions League once, implying a further 2 years of losses, and one of profit over the period.

     

     

    That transcribes as 2 Championships in 6 years, with 5 years of losses along the way. It will require immediate shareholder support to firstly stabilise the finances, then field and wage a competitive team, and further and repeated shareholder support to backfill losses with new cash.

     

     

    A fag packet might put the number at £10 Million now, £30 Million on a team pretty quickly, and a further £10 Million for 4 of the next 6 years. Assuming of course, the football team delivers the prizes: By no means a given.

     

     

    In terms of our Football and Finance criteria, it fails both.

     

     

    Few businesses CANNOT be run sustainably. That is, most businesses can find a model that sustains its cash requirements from continuing operations over the long term.

     

     

    Equally, few businesses being run on this basis are able to achieve and then sustain the Number One position in their market over the long term. In this market, where Number One is everything, and Number Two is nothing, the business model is binary – it works in only one set of circumstances, and fails in all others.

     

     

    To get to 2021 using Paul Murray’s ‘plan’, will require a minimum of £80M of new cash, with an exposure of a further £20M plus. Let’s call it a nice round £100M equity project.

     

     

    My conclusion is, and thanks for bearing with me here…

     

     

    Within the constraints of the football environment, given the failure of so many different business models over the past 20 years, and given the financial and operating circumstances the club finds itself in…

     

     

    There is no business model yet conceived that delivers BOTH football success and financial sustainability for a club playing out of Ibrox Stadium.

     

     

    It’s strictly one or the other, or as likely as not: Neither.

  21. thomthethim for Oscar OK on

    With regards to some Sevco bloggers “seeing the light”.

     

     

    I think it is more a case of Mc.Turdo and the Ninja guy being members of Clan Ashley and it’s their turn to be outside the tent with full bladders.

     

     

    The internicene strife amongst the support has added to the travails of the various Boards, which means that there is a permanent rift in the camp…and not all caused by gas!

  22. thomthethim for Oscar OK on

    Geordie,

     

     

    Teachers and DIY! What are they like?

     

     

    Haunless, that’s what.

  23. Geordie Munro on

    Thomthetim,

     

     

    Don’t get me started on the teachers.

     

     

     

    *other whiskies are available :)

  24. tonydonnelly67

     

    13:15 on

     

    1 April, 2015

     

    12:15 too, my god they sure know how to put on a show for the fans EH?

     

     

    They don’t give a flying **** for the fans. And the sooner the fans realise it the better.

  25. Joni Mitchell in intensive care in LA after collapsing at home.

     

     

    Has regained consciousness and reported to be ‘in good spirits’.

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