Interim accounts for the 6 months to 31 December 2017 were issued by Newco over the Easter break. Income was up £3.1m, due to the new merchandise deal negotiated (paid for) with SportsDirect, higher ticketing and hospitality revenue, although no mention was made in the notes of the progress the club made with its first foray into European football.
Costs were up correspondingly, by £3.5m, leading to a loss of £926k for the period. The previous year, a corresponding loss of £238k led to a season-end loss of £6.663m. We can expect something similar for this season, leaving directors to find an operating loss in the region of £7m.
The good news is that “penniless” Dave King has convinced a Trust to provide the £11m required for him to make an offer for shares his concert party do not already own. The offer of 20p/share is likely to be accepted by some who have tired of the episode, including those who were ousted by King and colleagues in 2015.
It is likely all the money is in place to cover this season’s deficit and the share offer but the big question remains, how to breakeven? Competing with Celtic is not even a question.
If expenditure remains at current levels, reaching the Europa League group stage would bring in enough money to remove the spectre of running out of cash, but that is a huge challenge. Newco would need to overcome four higher seeds to get there (something I doubt has ever been achieved).
They could increase the football budget, but that would expose them to higher-still potential losses, with associated risks. Or they could downsize. Stick with Murty, get rid of the Portuguese vanity projects and develop a team from the ground up.
Downsizing also comes with risks. Vanity projects sell tickets and merchandise. A first team full of teenage graduates from Murray Park would be a hard act to ‘follow’.
In short, I don’t see financial viability in this club, never mind competing with Celtic.
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TET Honestly pal I wasn’t having a go at you. I have total respect for what you do and always read your stuff.
I’m actually not having a go at anyone at all, every now & then the blog does go a bit doo lalley be it puns or roasted/toasted cheese but this doggy stuff is running for weeks at this stage.
Mon Hies don’t Hibs it..
Norrie
You are correct Big Hig da DJ was magic.
Hope you and your more beautiful half are both well. :)
Hrvatski Jim
For whatever it is worth, I thought your posts were funny. Hadn’t pegged you for the author, but now that I know, I see the dry sense of humour.
HH
Everything going to plan tonight. Sheep 3 ahead of Huns & Lenny just a point behind. 4th place a definite possibility. Mothers to beat Sheep in Semi and they won’t have to worry about their licence.
Imagine that, Ross County winning 4-0 without their inspirational Captain. I wonder how his mentor Billy Dodds is going to explain that?
JTT
They made my nephew Marcus Fraser captain tonight. Davies is now recognised as a coward. RC players no happy with him. Far better team without the Teeside cowards presence in the team.
3-1 Hibees
I see that other wee rat Imrie got sent off.
D. :)
Hi Mike
I couldn’t resist. Anyway, it is time to move on but I do hope to meet Seamus one day.
I am sitting outside in Porec watching this great performance by Madrid. Not a fan of either club but,apart from the Jose years,RM have mostly been a joy to watch.
What hope for the rest of us?
Pog, Thunder Road, PhilBhoy, CRC( you’re in the same camp as ACGR, you look older than me), Norrie, thanks, grand day with the girls.
CR7’s goal was a stunning one, top drawer.
was going to let the comments go, but if my dog comments upset anyone im sorry, d66 keep posting, mike i will email you take care.hh.
HJ
Like you, I have never been a fan of either club, but I have come to respect that Madrid team, and CR, in particular. We are privileged to watch football with Ronaldo and Messi … two of the very best players of all time.
Top 6 decided
When will fixtures be decided ??
FtSFA and FtSPFL
Doc
Noticed you missed my name out. You and I both know that I look a much younger skinhead than you. :)
Hope you have had a great day my baldy bro.
HH
Not at all Big Packy, everything is fun for a while but if you pardon the pun every dog has it’s day, you can’t keep something like that going indefinitely.
Big Ronaldo. Breath-taking. See what buying a round for the Lisbon Tims does for ye…
CORKCELT, okay no probs hh.
Feliz Cumpleanos Doc.
HH
…………………………….
One Maloy
Mucho congrats.
HH
Sandman
Messi is my favourite player in the world. Just a bit ahead of Stuart Armstrong. CR7 my 3rd favourite. The latter is the only one of the 3 who has bought me a drink. He didnae need to.
DELANEYS DUNKY
“Brilliant play by Marcus Fraser to set up Shalke for Ross Countys 4th ” !!!
As described by sportsounds commentator.
DD, that’s cleared up something up for me. Your nephew is the Marcus that was mentioned on here at the week-end who gave Davies a dressing down. I wondered if it was Marcus Fraser. Well done to him. (Although I quite like the jags)
Marspapa
He took the captain role by the throat tonight.
He wants Davies out the club.
Scott Brown is Marcus’ mentor and hero.
Not only did Ronaldo buy us a drink he let me dj with loads of Celtic n Reb tunes…top ghuy
Kikinthenakas
Coupon burst!
4 good winners, then Wolves do the nasty on me.
9/2 acc odds gone.
Taxi for Marvin
Hail Hail
Ive missed something. How come Ronaldo was in the company of CQNers when we won the treble?
FIELDOFDRAMS on 3RD APRIL 2018 8:29 PM
DD
Never realised that clicking on the green names revealed such magic.
—————————————————————————————————
For the sake of your mental health don’t click on mine! ??
YES
The only DJ to compete with RC is back in the house :-)))
Great to see you post KitNK
Hail Hail
Kikin
Big Hig da DJ ran the CR7 that day. Magical treble memory. We need Stuart Armstrong and Tom Rogic in our team. They are our two best.
HH
If Celtic win the cup to do the double treble, the team finishing fourth in league go into Europa. Beaten cup finalists do not qualify.
BP
Keep posting fella.
D. :)
My coupon crashed when CR scored that magnificent goal. He also put down one of lines for tomorrow. Not a shame really, the goal was a thing of beauty.
Anyone who cannot appreciate the beauty of the goal or the joy pets bring us….shame on you.
Stick to football if you have to , I like to appreciate all the good things when they appear in front of us . Take care everyone, there’s some nasty stuff around the world. HH
OnlyMalloney, You’ve just rained on my parade. I didn’t know that.
Will that mean the Huns will be cheering for us if we are playing the Mothers.
DD
Agreed about SA and TR.
Although TR IMO needs to be more consistent, but I would rather have him than not
D. :)
Rangers will qualify for Europe no problem , getting the go -ahead could be a problem .
Only Malloney
I would love Stevie Clarke’s Killie team to finish 4th and get into Europe. Have a feeling the huns will be 5th.
DAVID66 thanks, think my time on the blog is up mate, but could i give you my e-mail address maybe we could keep in contact ,if not hope cheeko is okay please let me know.hh.
Bhoys can someone please tell me what’s the situation with Marvin Compper? He made his debut in early March in the Cup versus Grennock Morton but hasn’t got a look in since. In the meantime, I’ve seen pictures of him training away at Lennoxtown. Any information would be greatly appreciated.
HH
VFR on 3RD APRIL 2018 8:15 PM
JIMTHETIM53 on 3RD APRIL 2018 7:50 PM
You cannot show domestic football on ECL nights.
*which is why our games should have been played yesterday, but then that’s too much common sense for the 3rd world sfa.