I’ve spoken to a few Rangers fans over recent months, the base line of acceptability has been redrawn many times. If you read back on what was presented as reality on 13 February, when Craig Whyte announced that while it was “business as usual” he applied to the court for a 10 day period to appoint an administrator.
Back then, administration was abhorrent, but suggestions of liquidation were regarded as outrageous. On 22 February Celtic Quick News asked questions about Improper Registration of Football players, was it possible that Rangers results would have to be re-written as 3-0 defeats for a decade or more?
In March Rangers director (still, I believe) Dave King sent out a new baseline, liquidation was inevitable but there was no question that titles would be taken off Rangers. Even this concession to liquidation was disputed by the Blue Knight and Duff and Phelps. Publicly, both still hold to this line, although Duff and Phelps use some creative ideas to get there.
Most now know that liquidation is inevitable. A few understand that the SPL inquiry into player registration is likely to result in five or more league titles being reallocated to Celtic, but I don’t hear anyone accepting the reality of the situation.
Rangers don’t have a buyer, primarily as the administrators don’t have a stadium they can sell. Even if they try to remain in administration for next season, Ticketus own the majority of their income. It will cost countless millions to pull a deal together, much more than the £11.2m Bill Miller considered putting on the table, and no one is coming up with that kind of money.
In the unlikely event these problems are resolved, whatever club emerged would have to deal with the fallout from players refusing to join a Newco and becoming free agents, football fines debts from Oldco, SFA penalties, Newco penalties if preferential treatment is provided in order to get them into a higher league, and SPL penalties for Improper Registration of Players.
There are two simple solutions. Form a new club, ask to share Firhill or Love St – or better still, rent Cathkin Park (reset ambition for Rangers as the new Third Lanark), and apply for entry to the Scottish Football League. Alternatively, co-opt a lower league club, maybe Airdrie United could help, rename it and spend however many years as it takes trying to acquire whatever parts of Ibrox survives liquidation.
This is a controlled and predictable way forward, a concept not delivered by Duff and Phelps, totally in the control of whoever wants to harvest fallout from the demise of the Rangers brand.
You can buy a hard copy of the new issue of CQN Magazine via Magcloud here.
The graphic below is just for a flick through, to read the magazine go here to it’s dedicated site.
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Statement from Celtic, just released.
http://www.celticfc.net/newsstory?item=2601
Manchester City’s £930 million spending spree to turn club into Premier League title contenders
Exclusive: Manchester City have spent £930.4 million turning themselves into Premier League title contenders, a special Telegraph Sport survey of English football’s finances has revealed.
By Matt Scott11:56PM BST 09 May 2012
The figure, which is based on the club’s three most recent annual accounts, lays bare the true cash cost of taking the previously mid-ranking club to the brink of their first league triumph in 44 years.
t also exposes the scale of the task facing them as they seek to comply with Uefa’s Financial Fair Play regulations, which took effect at the start of this season.
The full extent of City’s outlay is one of the key findings of the Telegraph’s unique survey of the financial health of the Premier League, based on clubs’ most recent accounts.
For the first time in a survey of this kind, the Telegraph can reveal exactly how much cash each club earned – and, crucially, spent – during a season.
The study has uncovered that in the 2010-11 season:
• Top-flight clubs spent £2.51 billion in cash, which was £285.8 million more than they earned.
• The Premier League generated £2.23 billion of income, which equates to 0.148 per cent of the entire output of the UK economy.
• Clubs spent almost £400 million on signings after player sales.
• Wages for players and staff cost clubs £1.52 billion.
• Premier League clubs’ net debt was £1.39 billion, costing them £97.2 million in debt-interest payments.
• City’s spending loomed large in the results for the league as a whole.
Between 2008, when Abu-Dhabi-based oil magnate Sheikh Mansour bin Zayed Al-Nahyan bought them, and the end of last season, the club’s total cash outlay was £930.4m, of which only £365.3m was generated from their own operations.
The remainder – £565.1m – had to be supplied by Mansour, the club’s billionaire benefactor.
That figure will have risen significantly over the course of the current season, although the exact final cost of winning the league will only be known when the next accounts are published in 2013.
Last summer, the club spent a further £53.6m net on new arrivals, which will be reflected in those accounts, although they also secured a sponsorship deal with Etihad Airways which was reported to be worth £400m.
When the gap between their income and expenditure peaked in the 2009-10 season, City were spending £3.04 for every £1 they earned, figures that show the battle they face to meet the “break-even requirement” of Uefa’s new rules.
Telegraph Sport’s survey uses the accounts of 19 of the 20 clubs who were in the Premier League last season.
Birmingham have been omitted because they have not met their statutory requirement to file accounts, which has led to the Football League issuing them with a transfer embargo.
This analysis gives supporters a clear picture of the health of their club’s finances and exposes to what extent they rely on the support of benefactors such as Mansour or Chelsea’s Roman Abramovich.
It may make alarming reading for fans of Aston Villa, Blackburn Rovers, Bolton Wanderers, Everton and West Ham United, whose clubs have spent significantly more than they have earned.
Over the years Villa’s owner, Randy Lerner, and Bolton’s Eddie Davies, have shown a willingness to cover these costs, but would leave their clubs with major problems should they chose to stop doing so.
Blackburn and Everton, by contrast, have no such benefactor support to rely on, meaning they must sell players to close the gap between spending and income.
As Blackburn’s relegation has shown this season, those sales can have a severe, negative effect on results on the pitch.
The analysis also highlights some fascinating trends which challenge conventional ideas – not least that spending large sums on signing players can actually have a negative impact on final league position.
Previous studies have shown that a club’s league position tends to reflect their spending on wages. Telegraph Sport’s study suggests this to be accurate, so clubs which pay their players the most tend to finish highest in the league.
But, analysing the period between 2009 and 2011, it also found that clubs who spent greater sums than direct rivals on transfers actually suffered in the league.
West Ham, for example, spent a net £20 million on transfers over the two-year period, which put them among the top 10 spenders.
But it was not enough to buy them Premier League security. In 2009-10 they finished 17th, six places lower than their wage bill ranked; the following year, they were relegated despite their signings and a wage bill which was 12th highest in the league.
Among the elite clubs last season, Chelsea and City both spent more money than Manchester United and paid higher salaries than United, but it was Sir Alex Ferguson’s team who won the league.
The study also shows how some teams manage to prosper despite being ‘selling clubs’.
Wigan Athletic (£574,000 profit), Blackburn (£2.2 million) and Arsenal (£15.9 million) all made more money in the transfer market than they spent in 2009-2010, and yet all three finished higher than teams with bigger wage bills.
Chelsea did the ‘double’ that season and yet made a profit of £18.2 million on transfers.
Last season, Newcastle United over-achieved more than anyone in this regard, making £5.4 million in the transfer market and yet finishing six places higher than their wage bill indicated they would.
The figures point to how the club have skilfully identified talent at bargain prices while attracting big fees for selling players whose departures have not prompted a slump in the team’s form.
Manchester City have been the dominant force in the transfer market since Mansour’s takeover, which came two months into the 2008-09 season (Telegraph Sport’s financial analysis includes the short period in that year’s accounts under previous ownership).
In the first three years under Mansour, they spent £266 million cash on players after sales.
Over the same period the cumulative outlay on wages was £390 million, meaning City were spending on salaries alone more than their income, of £365.3 million, although the club would point to the £61.6 million they spent on the regeneration of area of Manchester in which they are based.
Barring any slip up against Queens Park Rangers this weekend, Mansour will have a Premier League trophy to show for his investment, but it will have come at a 10-figure cost.
Celtic Football Club statement
By: Newsroom Staff on 10 May, 2012 09:34
CELTIC Football Club has today issued a statement regarding the ongoing situation in Scottish football.
As the Club prepares for the final league match of this season, when the SPL trophy will be presented to Celtic after Sunday’s game against Hearts, Chief Executive Peter Lawwell also thanked the Celtic supporters for their unwavering backing of the team throughout the campaign, which has helped to deliver the title back to its rightful place.
The Chief Executive said: “We are fully aware of our supporters´ concerns regarding the current situation across Scottish football and the breadth of opinion within our supporter base.
“The issues are complex and there is much uncertainty. Indeed, the situation repeatedly changes, even on a daily basis. I am sure our supporters understand that these developments are receiving our full focus and attention.
“Our guiding principle is that we will do what is in the best interests of Celtic Football Club and our supporters, consistent with upholding the interests and reputation of Scottish football.
“I can also give an assurance that we will communicate further and directly with our supporters at the appropriate time.
“Celtic Football Club is an institution which is about to celebrate its 125th season and we will be proud to mark this season as Champions of Scotland. Your magnificent support has played a vital role in bringing the Scottish Premier League title back home to Celtic Park.
“As Neil said recently, we have never been more united and I know this unity will be vital as we move forward.
“We look forward to Sunday´s match when we will celebrate all that is great about our Club and I am sure we will celebrate as only a packed Celtic Park knows how.”
Celtic Football Club statement
By: Newsroom Staff on 10 May, 2012 09:34
CELTIC Football Club has today issued a statement regarding the ongoing situation in Scottish football.
As the Club prepares for the final league match of this season, when the SPL trophy will be presented to Celtic after Sunday’s game against Hearts, Chief Executive Peter Lawwell also thanked the Celtic supporters for their unwavering backing of the team throughout the campaign, which has helped to deliver the title back to its rightful place.
The Chief Executive said: “We are fully aware of our supporters´ concerns regarding the current situation across Scottish football and the breadth of opinion within our supporter base.
“The issues are complex and there is much uncertainty. Indeed, the situation repeatedly changes, even on a daily basis. I am sure our supporters understand that these developments are receiving our full focus and attention.
“Our guiding principle is that we will do what is in the best interests of Celtic Football Club and our supporters, consistent with upholding the interests and reputation of Scottish football.
“I can also give an assurance that we will communicate further and directly with our supporters at the appropriate time.
“Celtic Football Club is an institution which is about to celebrate its 125th season and we will be proud to mark this season as Champions of Scotland. Your magnificent support has played a vital role in bringing the Scottish Premier League title back home to Celtic Park.
“As Neil said recently, we have never been more united and I know this unity will be vital as we move forward.
“We look forward to Sunday´s match when we will celebrate all that is great about our Club and I am sure we will celebrate as only a packed Celtic Park knows how.”
Good statement from Celtic.
Comment fully when everything is known.
They ain’t twiddling their thumbs
A priceless moment last night with Chick Young fighting back the tears to warn of Celtic going on a 10-in-a-row streak if ra Gers aren’t saved. Er, Chick, wouldn’t that be 22-in-a-row?
Staaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaatment
On the big site
Well done the Tic
BigJoebaskingIN28deg……………….*–*
alex thomson @alextomo
Expect Ticketus legal claim against CW to be announced later today for £27 million. It’ll be “long and protracted” say Tktus
“Our guiding principle is that we will do what is in the best interests of Celtic Football Club and our supporters, consistent with upholding the interests and reputation of Scottish football.
REPUTATION OF SCOTTISH FOOTBALL = NO TO NEWCO
Hail Hail
Well done Celtic good statement not saying much but using key phrases to make us aware they hear us.
jimbob71 on 10 May, 2012 at 09:43 said:
I read that statement as saying we’re listening to the fans and will do the right thing, just my opinion.
NotonewcoCSC
The bidders for Rangers are like a game of Guess Who. Does he have a wig? Does he wear a hat?
Ha-ha. Total joke. Admin just keeping things going until season ends and impending death of football club.
Chick and Jabba were both almost in tears last night and glossed over the winners of the POTY awards for the Celtic manager and players.
LB
Celtic HAD to make a statement.
We have season tickets to sell!
LB
Ticketus : depth charge.
Apologies for the re-post,but this really is worth a read:
N.B. the last 9 lines in this article.
http://www.todayonline.com/Sports/EDC120510-0000060/Ng-back-in-the-hunt-for-Rangers
The death rattle of the huns is reaching crescendo now.
That piece in the Record is littered with plain nonsense.
D&P saying if the players do not agree to transfer to the NewCo the SFA will not allow them to register with any teams within the UK? Nonsense. The SFA cannot and will not do that. Those players would be free to gain employment anywhere they choose as their current employer breached their contract. The SFA cannot and will not hold their registrations prisoner or decide who they will be transferred to.
Craig Whyte giving his shares away for a pound. Indeed he might but there is no chance in hell he will give away his floating charge at the same time but remember the Record want you to believe that his shares and the floating charge are the same thing. Anyone who wants Rangers has to deal Whyte in. With the Ticketus case pending there is no way Whyte will dispose of assets worth £108m on paper, without a large wedge of dosh.
CVA possible if the proposing party pays the wages in the interim. This is true but nobody will pay the 2 months full wages, circa £4m I believe, at a shot in the dark. HMRC are well known to wait until day 28 of the 28 days cooling off then block a CVA. That is pie in the sky and they know it, they almost admit as much.
Of course they start this drivel by invoking the image of Smith and Souness to ease the bears putty like minds into believing the guff that follows.
The facts are Miller was their last hope at somebody who would be interested in the taking the club forward in some manner. In business there are guys who ambulance chase situations like this. As soon as Miller pulled out these guys would have been in there and they were.
Contrast D&Ps behaviour with the statement. The statement says all is fine, on course for a sale, all on plan. Now look at what Mr Ng told a local paper. Pestered with 20 calls through the night. 50% cut in asking price. D&P are so far off plan now there is no plan. They are desperate and are encouraging the ambulance chasers.
However this pans out it will be worse for them than it would have been under Miller. That is for sure.
alex thomson@alextomo
If Ng bid really is half what he offered a month or so back it’s one hell of an OG for Administrators of Rangers. Despair personified
Ahhh, were back.
Well said Celtic & PL. when the time is right I am sure you will say the right thing. Damned if you do & damned if you don’t.
Liked the Celtic FC Statement.
Was measured and discrete but, to me, was also reassuring.
Bhoys, they are fecked! Long may that day come but let’s wait until after we celebrate the title on Sunday please
Celtic have said that they are monitoring the developing situation in Scottish football and will act in the best interests of the club and the national game when called to act.
The ongoing financial crisis at Rangers has delayed decisions on changes to Scottish Premier League rulings which could see the voting structure of the league altered and new sanctions introduced for insolvent clubs. The proposed changes could have significant impact on Rangers if the club pursued a “newco” strategy.
Celtic issued a statement on Thursday morning confirming that they are aware of feelings on the issues.
“We are fully aware of our supporters´ concerns regarding the current situation across Scottish football and the breadth of opinion within our supporter base,” Celtic chief executive Peter Lawwell said.
“The issues are complex and there is much uncertainty. Indeed, the situation repeatedly changes, even on a daily basis. I am sure our supporters understand that these developments are receiving our full focus and attention.
“Our guiding principle is that we will do what is in the best interests of Celtic Football Club and our supporters, consistent with upholding the interests and reputation of Scottish football.”
Lawwell praised the club’s support this season and vowed to speak to the fanbase when the situation becomes clearer.
“I can also give an assurance that we will communicate further and directly with our supporters at the appropriate time,” he said.
“Celtic Football Club is an institution which is about to celebrate its 125th season and we will be proud to mark this season as Champions of Scotland. Your magnificent support has played a vital role in bringing the Scottish Premier League title back home to Celtic Park.
“As Neil said recently, we have never been more united and I know this unity will be vital as we move forward.”
Declan?
Declan?
What do you make of Rogue Leader’s incisive post at 10.27?
Who will be first to slam the statement?
Celtic statement
whats it say
my mate said
“We need to say something so we’ve used this press release to say something. That something, you will note, is pretty much nothing. That was our intention. We will only say something that means something when we have something to say”
HH
Mike
RogueLeader
I was expecting you to have a pop at Peter Lawwell today for not maintaining a dignified silence ! ;-)
Wasn´t difficult was it.
i accept it said very little but it will help placate the supports minds that we will act with integrity.
If we dont in the end .. then even more trouble and that´s why there was/is a delay IMHO and a preference not to do so (due to the impact of 180° turns !!)
Hail Hail
MY and YOUR Celtic F.C. issue a statement.
Hope this will curb the excessive nonsense peddled by some of our so called supporters.
Yip,I know.
It probably won`t.
UNITY against the common enemy.
It`s a hun problem.
They did not say nothing. They said plenty. They said:
Celtic are watching and waiting.
Nothing more need be said. RFCia are imploding in spectular fashion. After the dust has settled, then Celtic will come forth to guide the way ahead. In the meantime, just enjoy the show….
New Alex Thomson blog He claims from the Ibrox House of Pain. Love that reference.
http://blogs.channel4.com/alex-thomsons-view/rangers-administrators-overoptimism/1435
I think you’re all talking rubbish.
On Followfollow there are cyber tears of joy……..
alex T:
‘Expect Ticketus legal claim against CW to be announced later today for £27 million. It’ll be “long and protracted” say Tktus’
“The issues are complex and there is much uncertainty. Indeed, the situation repeatedly changes, even on a daily basis. I am sure our supporters understand that these developments are receiving our full focus and attention.
“Our guiding principle is that we will do what is in the best interests of Celtic Football Club and our supporters, consistent with upholding the interests and reputation of Scottish football.
“I can also give an assurance that we will communicate further and directly with our supporters at the appropriate time.” – Peter Lawwell
Thank you, Celtic, for making this statement. That makes a big difference, especially the promise to communicate further with the fans at the appropriate time. The line about the “interests and reputation of Scottish Football” resonates loudly, and the message in that seems clear.
At long last, Celtic.
To the guys in the tanks I say this; start your engines and get ready to roll.
The importance of communication…
The statement says nothing and everything.. Enough to put my mind at ease. Although I have been happy enough with CFC keeping their powder dry. The Huns are pulling down enough rope themselves…
A son of Dan quotes Neil.
“As Neil said recently, we have never been more united and I know this unity will be vital as we move forward.”
Support Neil.
Support unity.
This from a fan’s spokesman. See what I mean?
At some point Walter Smith will own Rangers FC
The evidence?
Yesterday Duff and Phelps spokesmen said several things and media reports contained a couple of clues.
Firstly, an irrevocable agreement to transfer Craig Whyte’s shares to a buy exists. D+P’s lawyers say it is binding.
Secondly, from various sources it is clear D+P are indeed in genuine negotiations with a couple of serious parties. Two prepared to do a newco and one still gunning for a stnad-alone CVA. Blue Knights/BK still there too but obviously not flavour of the month with Duff and Duffer.
If the agreement to transfer the shares to a third party exists and has been admitted then if that relates to only one bidder then why at this stage continue to negotiate with several parties?
Therefore it seems to me that Whyte has agreed that Walter will be the honest broker in all this – Walter’s ownership of the shares gives clarity and certainty that the shares are in fact available for a deal to be done.
Once the bidder is decided this time I believe Walter will then be the final part of the jigsaw and he will gift the shares to the new ownership group.
Hope he remembers to pay Craig the pound.
Whither the cash strapped scrofulous Hillbillies the day?
Regius Professor on FF:
“Do players get paid during the close season
This might be a stupid question but do players get paid during the close season.
They are not actually working (playing or training) so does their wages stop when the season ends and start again when they report for pre-season. What is the script on this.
If that is the case, then would this not give us an extra coupla weeks grace before they revert back to their full wages again.
Don`t get me wrong here, I am fully aware of the sacrifice they made and I don`t begrudge them what they are due but if it gives us extra time…..
Just a thought.” [A thought eh?….Glad I don’t have any of those.]
Good statement – said what needs to be said.
Meanwhile if Ticketus is to sue Whyte then the court games have started – and there will be more.
Whyte selling his shares for £1? Aye, what’s in the small print?? There will be conditions. Many conditions.
And Ng’s bid was rejected, so he comes back with one half the size?? D&P really are playing a blinder. Maybe they can reject hm again and he will return in a month asking them for money …
‘The issues are complex and there is much uncertainty’
-it maks sense tae me, and it maks sense tae Mo.