A bit surprised that Dave King’s gunboat diplomacy saw an agreement with Sports Direct, which will see the retailer’s interest in Newco end next year.
There is little prospect of Newco making much additional income from this over the next 12 months, as this period is where Sports Direct will receive all compensation for curtailing the period of the deal. But a year out, should they still be around, they will be able to negotiate improved terms, presumably with a different kit supplier.
You can ignore the grandiose bluster from some in the media, this will not in any meaningful way narrow the financial gap between Newco and Celtic, the more important question is why Mike Ashley chose to take an early exit. Maybe taking a limited dividend over the next 12 months is a better bet than hoping for a long-term return from a five-year-old business. Ashley’s people will have run various scenarios.
The important medium-term objective for Newco will be to reduce the dependency on shareholder loans to keep the lights on. They are not a millions miles away from this, and with a premium kit deal it should be possible from season 2018-19, but the central question you and I have pondered occasionally over the last five years remains:
Is a ‘Rangers’ football club commercially viable earning £50m less than Celtic and trailing hopelessly in their wake? I really hate the ‘know your place’ sentiment, but we’ll not have an answer to that question until self-awareness dawns, and there is a realisation that second placed cannon fodder is the best they can hope for.
Aberdeen have lost players (sorry about that) and are likely to be weaker next season. Hearts Cathro experiment looks unlikely to make any sort of challenge, so the Best of the Rest opportunity is wide open. Dream time, for those at Ibrox.
Get involved with the Foundation
There’s a great opportunity to get involved with the Celtic Foundation coming up in October with the Great Scottish Run. Each year the number of Celtic fans who get the trainers on and sign up for this event grows.
It is a magnoficen magnificent thing to do, great for you, and you get to do your part for the Foundation.
Go here for sign-up information. See you there!
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Welcome aboard BIGRAILROADBLUES:-))
Big packs-used to bike it to new Brighton beach in the summer hols,west Kirby to:-))
Have the Zombies offered Auchenhowie to the brothers yet?????….
( I know they ain’t qualified yet ).
H.H
Hi Paul67,
“A bit surprised that Dave King’s gunboat diplomacy saw an agreement with Sports Direct, which will see the retailer’s interest in Newco end next year.”
Well, not really sure this is the case…
There’s a lot of things DCK did not say in his statement.
After King’s bluster in the aftermath of the take-over (the illegal hostile one – remember), I see this less of a Victory and more…
We came
We Saw
We Concurred
King States…
“For obvious reasons it is not the practice for the details of commercial arrangements to be made public.
Too True, one reason is a legal obligation not too, an obligation that DCK reneged on big time with the last deal and found himself in Court… The impact of what he said was even more damaging to the new Club.
Now of course he wants the new deal to be kept quiet…
He will be allowed to talk up the deal, where’s the cash coming from, if Sevco Rangers Fans start buying old stock – great for all concerned…
I.e. Sevco don’t have to pay Rangers Retail Penalties; Puma and Sports Direct get profit on the sales without the Costs associated with a new Kit.
Interesting Sevco came to a poor deal with RED32 – if they had new sponsors what would have happened to the old kit… MMmmmmmmmmmmm. It’s all part of the process;)
Now there is also the small matter of the end of the litigation; Ashley v Sevco, King & Murray.
Who blinked first… well who do you think…
The settlement will have to be paid for, no doubt from a huge chunk of the profit the fans think will end up paying for players, it will go to the Club, then pay for the settlement.
Also any Sports Direct boycott is lifted.
No… SO had Sevco over a barrelled but also wanted to get out of a costly and damaging contract, with associated litigation… Ashley did the smart thing… King had no choice but to accept it… That’s my take.
Hail Hail
TAL, sorry to hear about your mother. I know you said she was unwell when I spoke to you in Fatima. Sincere condolences.
Ffs:-)big packs obviously big packy:-))
Chairbhoy– The Lying King must have forgotten to mention this https://twitter.com/white_italy/status/877877213508587520
Celtic TV – Brendan Rodgers in-depth Part 1
https://www.youtube.com/watch?v=ppw9lX3Klzw&feature=youtu.be
A post I typed which made no sense. That’s a first.
My apologies to the good people of La Fiorita for suggesting that they’d done a 350 mile flitting from their coastal home in Monaco to the land-locked country village of San Marino.
La Fiorita Giants works well.
auldheid more power to your elbow sir. just listened this is really a cesspit of orangeism. what do we do boycott celtic. i thank you for what youve done by the way no offence but you sound a little like bob crampsey.
TAL – Thoughts and prayers for your Mum, yourself, family and friends at this sad time.
Pog – Wishing you a quick recovery from your recent surgery.
TWC – Well done to your son, a proud moment for the family
HH
THE EXILED TIM on22ND JUNE 2017 6:31 PM
Auldheid
They have ignored Res 12, is that not an answer, they will do nothing, I will bet my life on it.
HH
======
So you won’t be writing to them telling them that by doing nothing Celtic are condoning cheating, are part of the cheating, are allowing shareholders to be defrauded and are not protecting their paying customer from a repeat of previous years.
Reduces the odds on your bet coming up does it not?
TAL
Sent u an Email .
As I said a bright light has just went out in our wee village.
God bless bro
See u Monday
Big Packy
Are you serious : contemplating boycotting Celtic.?
HH.
TAL
TAL, may your mother Rest In Peace, sincere condolences at this sad time from the valley..
YNWA
greenpinata. never but what do we do
Auldheid
I have written to Pedro a handful of times, each one sent via registered mail and as yet to get a reply, but I will write again, as a shareholder this time, but I won’t be holding my breath, they will do sfa as well you know.
The huns make money for the club, that is the bottom line, the only thing that will make our or any other club do anything is the withdrawal of funds and then they will act, till then no chance, that is a fact.
HH
ONEMALLOY, thank you.
the muddied waters are muddied further – they still don’t know who owns what
TAL
Condolences on your sad loss.
Big Pack.
I worked with Bob’s brother Frank. I take that as a complement. :)
In a way we don’t need to do anything.
Just remember what we are up against which is a self destruct foe and keep them at a distance when they do but a bit of recognition that they have cheated the game would be nice.
TAL,
Condolences to you and your family on the sad loss of your Mum.
Thoughts and prayers for you all tonight, my friend.
Good TET.
The more who write the harder it is to ignore.
TAL
Very sad news about your Ma.
HH
Starry plough-going to holy cross didny help me mate:-)))
auldheid certainly was a compliment.hail hail
Pogmathonyahun
Hope you have a quick recovery from your op
Celtic FC SLO @CelticFCSLO
·
17m
Replying to @gaz8467
@paulthetim @paisleybhoy1888 @weejock67 @Lpoolemeraldcsc looking like 14th, Club may decide not to take tickets for the game
Sunderland away, 29th July, to be confirmed tomorrow
FAIRHILL BHOY
It prepared you for CQN, what more can you ask of a school!
HH
TAL
Sincere condolence for your loss – may your mum rest in peace
TAL….
I mailed you last night mate.
So sorry to hear about your mum passing. Prayers said, take care S.
TAL.
Sorry to hear the sad news about your Mum.
May she rest in peace.
Hail Hail
I was asked about the demarcation between the SFA and UEFA on granting and monitoring in terms of UEFA accepting what the SFA accepted on a self certification level.
I thought the response worth copying here.
My impression is that there are clear dividing lines on granting, less so on monitoring.
It is up to the SFA to do the grant bit as part of the National Club Licensing cycle with UEFA standards applied for Premier clubs.
The SFA will rely on self certification and a diligent even handed SFA could use the powers in FFP to check up.
The SFA had no intention of doing so in 2011 and I’ve no idea on what basis a Licence was granted this year.
The Greek FA (the irony) are an example of how it should be done.
Giannina declared tax owed but said they were talking to the tax man.
The Greek FA refused a Lic but Gianinna appealed so Greek FA granted one but asked UEFA CFCB to check they were right.
This gave CFCB at start of June time to send in a team to check and on checking they found Giannina had admitted to owing the Greek Tax authority and no written agreement was in place at 31 March ( although one concluded in late May) and on that basis UEFA refused Giannna a licence even though by June there was a schedule to pay agreed.
It has to be as strict as that to disuade clubs from thinking they can get away with simple ruses to meet compliance.
TAL sorry for your loss it’s a difficult time
TAL – Thoughts and Prayers at this sad time.
Auldheid
Re your post at 8.29
What in effect you are saying is that uefa, as long as they don’t know don’t care :-)
There is no way the sfa will do the right thing and there is no way the other scottish clubs will call the sfa out, the bigot pound is too valuable to them, tis a sad, sad state of affairs.
HH
TAL
Condolences
HH