The early years of a new business are risky. It doesn’t matter if you have the best product or service, or the potential to rule the world, it’s critically important you don’t run out of cash.
The Rangers Football Club ran at a cash deficit from their first month’s trading. Within six months of starting business they undertook an enormously successful share issue (going public as Rangers International PLC), raising in the region of £22m, but they continued to spend more than they earned. On Saturday, the BBC reported a club source confirmed they were 48 hours from running out of money.
For a moment, put aside who owns Rangers International (RIPLC), sits on its board, owns its retail rights or has security over its assets. In any normal run of business these things are important, but right now, for RIPLC, they are secondary. The most important issue in this company is paying its creditors.
They can either pay their bills, or they can’t. If they could pay their bills, they would have no problems with predator-shareholders and the company could accommodate the aspirations of all stakeholders – including fans.
If the company cannot pay its bills it will not meet the aspirations of any stakeholders. It will either go out of business, or it will attract an investor who is prepared to pay creditors, and in return extract assets or some other compensation.
The pain of Dave King and his legions of cohorts in ‘restoring Rangers’ and preventing Celtic from accumulating 10, 20 or 30-in-a-row is tangible, but there was no easy fix. Rangers International should have been urged by all of these voices to cut costs to match income, pay their bills and ensure that Newco, unlike the original Rangers FC, would never be out of pocket and vulnerable to the most aggressive carpetbagger.
Instead, all we heard about was the Restoration of Rangers, no matter the cost. Living as modest also-rans, paying their bills while hoping to win the odd cup and avoiding an absolute hammering at Celtic Park a couple of times a season, was simply unacceptable when pitted against the alternative – burning cash like there’s no tomorrow and hoping something miraculous would turn up. It was madness.
Mike Ashley has fed the junkie-club a couple of million, which might be enough to see it through Christmas but it’ll need another, larger, hit, before long. Attempts by King or any other wealthy fans to intimidate the Easdales, or Ashley, to capitulate, will fail, again.
The club does not have the money to pay its creditors until season ticket renewal money arrives, but it has more assets, specifically the stadium and Murray Park, which can be sold or secured. In return for this latest loan, Ashley got control of the boardroom. This will allow him and his allies to dictate the terms of the next funding arrangement.
Those wondering how he will increase his shareholding in Rangers International, in conflict with his ownership of Newcastle United, are missing the point. He doesn’t need to own Rangers International, all he needs to do is own the stadium – at an onerous rent, and own the merchandising and image rights.
Like Sir Davie Murray before him, he might even fancy owning the IT provision, travel, stadium advertising and catering (yes, I know that’s already gone) at Ibrox. Murray’s companies used to take close to £4m a year out of Rangers – and they thanked him for the honour.
Much of the above could be outsourced to Newcastle, where all ‘customer contact’ could be administered from. He could even subcontract the manager, coaches, scouts and the guys who puts the cones out from Newcastle. All of which would mean that in the event of a commercial trauma, he holds all the contracts necessary to start afresh.
Ashely doesn’t need to own another ounce of Rangers International, in fact, after he has secured the stadium etc. on a long and glorious lease, he will be pretty much finished with the hollowed-out runt of a club.
Similarly, those who suggest Ashley’s loan is a sign that he will not allow the club to fail are missing the point. If he owns or controls the stadium, IP, client databases, coaches or whatever else, he controls what happens AFTER a liquidation.
Right now Ashley, and his collaborators remaining on the board, have to pay those onerous contracts we heard so much about, while they own less than 50% of the shares. I doubt Ashley has paid onerous terms in his life. Liquidation would allow him and his pals to start afresh, stop paying the last bunch of spivs and keep the money for themselves.
In practically every literary portrayal of hubris, the protagonist has a moment of self-awareness. It as though literature doesn’t work, it’s not credible, without a fleeting moment of clarity. No one, it seems, carries the same stupid world view throughout a complete novel.
Literature has failed to prepare us for the most predicted self-harming on the planet.
Remember to order Caesar & The Assassin, signed by Billy McNeill and David Hay, more here. To confirm a note on Billy’s nickname. While it was acquired from Cesar Romero, Billy prefers “Caesar”, which was how the name was always spelled during his playing days.
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mighty tim
This is shocking. Sadly, though, not surprising. Please tell me that your boy has witnesses from the crowd who will testify on his behalf. Beyond reasonable doubt, mate, beyond reasonable doubt. They will have to establish this.
http://www.telegraph.co.uk/sport/football/teams/rangers/11191342/Rangers-fans-should-back-Mike-Ashley-says-Charlie-Nicholas.html
Sitting there thinking ?
Good luck mighty tims Boy !
HT… For sure; not often that I post nowadays but just my cackhanded way of saying hello and best wishes to you and H…
God Bless…
TBM
Mighty Tim
Back in from the pub and came in to find your news re Sean and his forthcoming trial.
I hope and pray that common sense and a proper application of the law prevails here as the circumstances and all the available information suggests that things should never have gone this far in the first place.
Hopefully the court will see right through this nonsense.
BRTH
Prompted to post again…
MT… Hopes and prayers with Sean… Shocking stuff to have to put up with, given that a decent young man has his future employment and life jeopardised on the say so of a questionable indidividual, sickening! God Bless and here’s hoping that goodness and justice prevails… Regards & Hail Hail…
TBM
Mighty Tim
I hope all goes well for Sean and that justice is done.
auldheid
23:38 on 27 October, 2014
I refer to my post at 22:250pm.
CQN is a great conduit and forum… But sometimes SFA has to be pointed out.
My memory tells me their is a rule for SFA or SPL that says…. And I paraaphrase…
All rules will be interpreted as we see fit.
Remember reading it a few years ago and recognizing the games a Bogey!!!
Mighty Tim, my thoughts are with yourself and your boy. What you’re going through is nothing short of disgusting, a criminal waste of tax payers money and a shame on the criminal justice system in our country,
Stay strong my friend.
Been off the blog for a few days but I’d like to say a big thanks to Oldtim and Johan Murdoch for the uber timmish gesture of giving me their passes for the posh seats at Sunday’s game. I owe you both some swallies.
Celtic supporters are a warm and welcoming bunch and I love you all (Marspapa ya jug eared freakshow, I don’t include you in that, obviously).
Is it true that when you were born the nurses didn’t know which bit of you to pick up? I was told they thought you were related to John Merrick and had to feed you by firing Farley’s rusks into your misshapen gub with catapults from the other side of the ward ya ugly twat. Is it also true that your parents had to hang sausages round your neck so that the dug would play with you?
Just read last week’s blogs. Ha ha ha.
Marspapa, nae hard feelings ya styoopit fanny:_))
that was a brilliant post by 67 heaven earlier today, congrats
Auldheid, great take on the Ashley “takeover”. Our SFA will bend and comply to suit whatever the hun want to do. Sad as that is, it is what it is.
As a resolution 12’r, I’m pretty close to admitting defeat. We have lost and they have won.
Am I wrong? Please convince me.
I’m looking forward so much to February 14th 2015. A hootenanny in the land of the emerald prince 16 roads. Never mind the prince…………..FFS. An audience with the true gem of that island will see us all party with the queen of that wee green place and she will love us for it.
Hail Hail Dena 29, we are your minions, or at least we will be in february.
xxxx from ACGR :_)))
Howdy ACGR,
What’s happening to MT’s boy sums it up for me, and I share your depressive thoughts @ 02:44.
This board have made it clear, it’s them and us. With them or against them.
Every time I think I could get a couple of tickets for such and such a game, risk that I might not make it, this weighs it out for me.
They treat us with utter contempt.
Picture the CEO of BT being given influence of a “business” where punters pay their money out of loyalty rather than necessity.
He’d bite his granny’s hand off for it.
But it’s not just about the money, it’s about our young support being arrested in blatant disregard of basic human rights; no worse, to ruin their lives, so that those aware, realise they need to pay for their loyalty with sealed lips.
And people here defend this “board” while laughing at the huns.
The last laugh is on us.
I sign out in despair and disgust, but with a nod in the direction of your goodself, a great Tim, and great company.
WITS, If you still have the muchochacha’s to make a bet I’ll cover whatever amount you want that we will win the league. I saw you post that we wouldn’t win it with RD as a manager. I’ll have some free money from you please.
Put your money where your big mouth is buddy. I’ll take any bet you want to make based on your previous post.
Name your price buddy, make it a big fat price please.
PFayr, if you still want in on this bet, I’ll cover you also.
acgr@hotmail.co.uk
name your price lads.
HH
FFM, nice to see you about. Whats happening to MT’s boy is disgraceful. Does the average person in this ignorant little land know where their taxes are being spent and wasted? FFS, how many cases like this have there been that we don’t know or hear about.
I want a rebate.
Maybe Johann Lamont will come up and give me a cheque or kiss my arse. At least my fantasy granny Anabelle wanted to knife me to my face. That we double crossing cow lamont didn’t even wait until the no votes were shredded until she pished on her voters.
Ach well. They will live and learn, and live is north state brittania until the next svengalli ernie lynch type shites on them again.
Baaaah…….Baaaaaah,,,,,bahhhh.
Sellouts.com
I know I’m in a small minority here when I say I’m gutted that that rat mccoist didn’t get his jotters today. I don’t hold with the mainstream cqn view that he has to stay. I’d like to see him under a bus, sacked, plane crash, humiliated etc.
That snivelling excuse for a human being deserves nothing but bad luck, I hope he gets it.
Goodnight Celtic Men and Wummin and Queen G.
Hail Hail
ACGR,
[while I voted yes, remember this is the SNP controlled rozzers behind this, due to their odd, unhealthy relationship, and the very odd concept of total collusion from the Celtic board.]
I’ll never claim to understand the way these idiots work and exactly what their agenda is if it isn’t about making money, but it’s always clear when it’s stinking wrong.
Last time I went to CP I actually felt very uncomfortable knowing that fellow supporters were being harrassed/ filmed/ possibly arrested.
In my opinion, this is a clear message from the Celtic board that supporters must comply, accept a £100 reduction as a test of where you’re loyalty lies, accept that it’s us and them, and then get on with it while the rest are weeded out.
For those not concerned about the above, you soon will be when you are made to pay for it with your cash. They’ll hit you where it hurts last, as you will be all that’s left.
Just popped in for a wee read while the Redskins and Cowboys, them of the Sevco link up, dueled in OT for a winner.
Very thorough and revealing leader from our grand host.
Tour de Force Paul.
This contribution from weefrathetim grabbed my attention and made me think.
————-
weefrathetim
20:55 on 27 October, 2014
andyr53
Cheers for that. Nothing top class about me, I’m just a retired working class old fekkir who is lucky enough to be reasonably comfortable though due to careful pension planning.
There’s nae pockets in a shroud,
so wtf give it to the needy. Any time kiddo.
Weefra HH praying to Wee Oscar.
Redskins win in OT.
Cowboys Quick News in meltdown.
Fans blame coach for Sevco relationship not producing the forecasted overseas fans revenue.
mighty tim supporting wee oscar
23:42 on 27 October, 2014
Thanks again bhoys and ghirls for the good wishes for Sean.
Weefra Sean got arrested in march at the caley thistle game for allegedly singing an offensive song. The police later released him without charge however the procurator fiscal later charged him. He was originally banned from going to any game by Celtic but a certain friend of yours and mine arranged a meeting with the guy at Celtic. He and Sean had the meeting and the ban was immediately lifted. Now even though they have no video evidence and only the word of 2 coppers standing 70 yards or more away looking into a crowd of thousands they claim to have heard Sean sing said offensive song as wait for it no one else was singing at this time and the ICT fans more than 100 yards away were offended. Strangely enough no one from the ICT made a complaint no one from the thousands of Celtic fans made a complaint but these 2 focus cops heard him and new that people were offended. They also must be great lip readers
############################
A great worry for you all, I hope the verdict goes the way we all want, the Sheriff’s aren’t daft and generally see things as they are…..
Been on this blog a couple of years now and met a few people I now regard as friends.I had the pleasure of being in the company of two on Sunday, one returning a favour…..! An unnecessary return of that favour, but my thanks to ACGR and Jim the Tim.
Was a kind gesture and what being a Tim and part of this blog is all about.
Ayrshire is Green and White
FFM, I was about to head to my stained chariot but I made the mistake of looking in again.
Our “rozzers” will do as they are telt by the Scottish parliament, that’s not just the snp. I’m sure wee johann, before she wet her pants was all for the criminalisation of football supporters, ours and the huns. Mister Jim Murphy, who is sleekitly looking like succeeding her is a Celtic supporter. Do you think he gives a shit about MT’s boy’s plight? I doubt it.
Anyway, time to get in that manky bedspace with the current Mrs ACGR.
HH
P.S. Happy birthday minxy, it must be a rush being hitched to HT, he’s a star and you two deserve each other.
xxxx
We Are Celtic
MickTT, the pleasure was all mine. Next time let’s beer and pike and beer some more.
Celtic in the veins.
ACGR @ 03:50,
It’s a fair point.
The majority of Scottish MSPs were behind it, as were the Celtic board.
I don’t say this for want of a discussion from anyone.
I say it as it us utterly depressing, and a very stark reality of it is what is happening to MT’s son.
Another stark reality of today’s society, is that we all offer our condolences and accept it.
The SFA’s choice is:
1. Let Mike Ashley do whatever he wants, riding roughshod over every rule etc… OR
2. Let their beloved Sevco go down the gurgler.
Which way do you think they’ll go?
The SFA have made a rod for their own back.
They have already chosen to ignore or break every rule and even invent a few new ones, all for the sake of their beloved Sevco FC.
MA must be fully aware of this and knows when it comes to shove, the SFA will do SFA.
Well that’s me out of here.
I’ll still be reading of course, very occasionally, but I’m not posting again.
Things are at their worst in society at the moment, and instead of being at the front fighting for folk the way our support does, this board are doing the opposite. They’re trying to destroy it, and ruin this part of our club. It’s also being done in a way that defies the ethos of this blog, as spin and propaganda is the name of their game.
These are the very things destroying society at the moment.
I leave for selfish reasons – it depresses the life out of me, and is affecting the other things I do.
All my best to you all, CQNers, an outstanding bunch of fholk.
Stay strong, and please keep the charitable work going on.
I didn’t know that’s where buttermilk came from!!!!!
http://www.huffingtonpost.co.uk/2014/10/27/tesco-buttermilk-funny-picture_n_6054072.html
HH
Mighty Tim:
It looked to me that the police at the Ross County game were adopting similar tactics. I told one of the senior officers there that their methods were puerile and vindictive, he and his wee female sidekick just smirked and neither of the two could look me in the eye.
There was a time you’d get well updated about the fate of victimised Celtic supporters on here but no longer, it seems.
Does anybody know what has happened to those arrested in Amsterdam and whether the club is aiding in their defence? How many arrested on the ‘Kettle’ day have had their inconvenience morph into a conviction?
I wish your boy all the best mate, I hope he stays proud and keeps the chin up.
kitalba
“Kettle”convictions
http://www.bbc.com/news/uk-scotland-glasgow-west-29460173
2 October 2014 Last updated at 11:54 Share this pagePrint
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Diplacito and Glancy sentenced over Green Brigade march
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Police arrested 13 people at the unofficial Green Brigade march in Glasgow’s Gallowgate area
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Arrests at Green Brigade protest
Two men who were among 13 people held by police during a march by the Green Brigade group of Celtic fans have been given one year football banning orders.
Nicholas Diplacito, 29, from Lanark, and Mark Glancy, 24, from Glasgow, were arrested during the unofficial march in the Gallowgate area on 16 March 2013.
Glasgow Sheriff Court heard they behaved in a threatening manner and struggled with police officers.
Diplacito must also carry out 135 hours of unpaid work. Glancy was fined £630.
‘Shameful behaviour’
Stephen Ferguson, football liaison prosecutor for the west of Scotland, said: “These men were part of a disorderly crowd and seemed intent on causing trouble. Such shameful behaviour will not be tolerated.
“Police officers carrying out their important role in maintaining public order should not be subjected to assault and abuse or hindered and obstructed and we will continue to do all in our power to bring those who perpetrate such crimes to justice.”
Almost 200 officers were deployed to the gathering outside the Chrystal Bell pub in Glasgow’s Gallowgate area prior to the Celtic v Aberdeen match last year.
At the time, police said the crowd “appeared to be attempting to stage an illegal street procession and officers were deployed to prevent this”.
The Green Brigade had posted on its website ahead of the protest that it would be holding a “corteo to Celtic Park to raise awareness and show support for the growing list of Celtic supporters receiving and facing bans”.
It warned those taking part that police would “use every and any excuse to instigate trouble”.
lymmbhoy:
Cheers.
200 officers – 2 convictions… a grand and cost effective use of public resources and a result too. Just imagine what they could achieve if they got out of bed on the 12th and put on their uniforms as opposed their sashes.
Good morning friends. It’s the wettest, windiest, horriblelist morning of the season so far here in ole EK. Hope it clears for tomorrow’s big Glasgow Derby (tickets still available…)
Mighty tim
Hope everything works out for Sean
Should never have got this far
Good mornin g CQN
Best wishes with MT and son today lets hope natural justice prevails
Vote Better together and the Banks will behave HA HA HA wonder how many of those jobs will be lost in North Britain……….
BBC Radio 4 Today @BBCr4today
BREAKING NEWS: Lloyds Bank confirms 9,000 job losses http://bbc.in/12YxCUQ #r4today
Morning all.
Weather absolutely foul on the South Ayrshire coast. Nae change there then!
Best wishes to MIGHTYTIM and his bhoy.
HH!!
Lymmbhoy. It was a good night watching Gary og on bondi beach on sat night. Just sobering up now
Need to have a beer before you head to that cold victoria :)
Acgr 2-34 am
hahahaha !!!
when i was born i was so ugly …
the doaktur slapped ma maw ;)
Dispicable Me ….
my grandkids say i’m a cross between Groo and his inventor friend ,
back to the ” box of shame ” for me lol
Btw you yhink i look like J Merrick now , wait till you see me when my allergy kicks in
severe Angiodema
totally soul destroying bud , anyhoo glad your no upset haha
catchye :))
spellingstillbadcsc
Five EPL based players on the FIFA Ballon d’or shortlist for the 2014 player of the year.
None are Engerlish.
HH!!
lionroars67
07:10 on
28 October, 2014
Good mornin g CQN
Best wishes with MT and son today lets hope natural justice prevails
Vote Better together and the Banks will behave HA HA HA wonder how many of those jobs will be lost in North Britain……….
BBC Radio 4 Today @BBCr4today
BREAKING NEWS: Lloyds Bank confirms 9,000 job losses http://bbc.in/12YxCUQ #r4today
————-
Will also be interesting to find out how much the fat cat execs of the company will be filling their troughs by as a result of this admittance of failure
Hopefully with it being 25% owned by us then the government will tell them they are not getting rewarded for this, though i suspect they will have a bonus-for-failure clause written into their contracts