Forbes Magazine’s article on the demise of Rangers and prospects for its successor club are notable only as they do not emanate from the Celtic online community. Jon Pritchett, an advisor to one-time preferred bidder, Bill Miller, explains why he believes a commercial turnaround of “Rangers FC” isn’t feasible. This assessment was based on season ticket revenue for the new club being 20% less than what the old club earned last season, an ambition that is far from being achieved.
Forbes article brought protest from Sevconian chairman, Malcolm Murray, who retorted that all sorts of positive developments have happened to the project since Pritchett made his assessment in May, including “significant investment in the club from the individuals and organisations”, although he didn’t name investors or provide specific details.
There is something familiar about this process. Harbingers of doom are rubbished by a club who insist they are in perfect financial health.
Murray claims his club have sold 36,000 season tickets, the adult price of which is £268, inc vat, or a total of £8.04m ex vat. He also has money from Sports Division and consortium members, at least some of which will have gone towards paying Rangers administrators’ for the club’s assets, but he makes no secret of the fact that his new company needs to raise money through a share issue, which he hopes will “generate many millions in additional revenue”.
Bill Miller, like Blue Knight bidder Paul Murray, could not see how a Newco would be viable without access to European, never mind SPL, income. The most interesting aspect of the prospectus Newco hope to publish will be the cash shortfall, not only for this season, but for each of the three subsequent years they will be ineligible for European football.
The prospectus will also have to detail how this gap will be bridged, and will have to recognise the impact of potential financial and sporting penalties from the SPL Commission looking into improper registration of players at Rangers, whose SFA membership the new club acquired. These are the huge questions Newco has to address before it asks investors for cash, the stripping of titles is merely window dressing.
Malcolm Murray is correct, a lot of water has passed under the bridge in the five months since Jon Pritchett looked at the books, but a lot of that water is choppy.
The new issue of CQN Magazine is out today, 80 pages of fantastic Celtic content. Click here to read for free online, or strain your eyes squinting below.
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ScotPatsFan, 22:22
What joke? I hope they are all held to account as they should have been long ago
Can the administrators point to any single decision that was taken in the best interest of creditors?
Why was Naismith not sold in the January transfer window when there was an offer on the table?
Why did the administrators lobby for Cousin to be registered when that would incur more costs to Rangers FC?
o.g.rafferty
Are any other DJ’s implicated?
I would not want to think of more victims, but if there are, those guilty must be brought to book.
Ernie
The clue is in the use of the word ‘hoping’ being present in both posts.
oh guys.maybe you read it wrong..its not about what happened.
I listen to 5 live every day and there are all sorts of stories coming out,centred around a certain generation of presenter on radio 1.
i don,t thonk i was making a joke ouy of it
bad phone spelling. .
ernie lynch
You are right on the first count.
Londoncalling/O.G.
Not me. I hope no one else involved hence less victims.
What Saville did was and is disgusting. Hoping others have done the same seems a little off for me.
MWD
Hamiltontim
22:39 on 10 October, 2012
‘Ernie
The clue is in the use of the word ‘hoping’ being present in both posts.’
No.
You’ve misrepresented what the poster said.
Moonbeams
Its not hoping there are more victims – it’s hoping those responsible are brought to book.
I would be surprised if it was just Savile, though he may have been the worst.
maybe not the best place to discuss..lets drop it
as Ernie Lynch said.think somebody has misrepresented what was said
There is a big differrnce between hoping somebody is caught,and hoping more and more people are involved!
Danny baker tweeted
More From Ed Stewpot Stewart on meeting his eventual wife: “She first started on my stomach – and nothing else!! – when she was 13.”
My questions to add to the fold:
A. Why did BoS support MIH, and in turn the Rainjurz, to the level they did?
B. What was Masterton’s role, and crucially the role of the Bank’s Board, in overseeing MIH transactions?
C. What specific relationships (professional / personal / ‘society’) were there with Minty?
D. Is there an even murkier ‘dirty laundry’ secret yet to be revealed?
E. Who really introduced EBTs to Minty (surely not our Bluebird – perhaps a big clunking Fifer???)?
Thoughts are with the Knox family.
I also cannot stop thinking of the family of April Jones. It is impossible to even begin to comprehend the anguish and despair they must be going through – such a beautiful wee lassie. Thoughts are with any parents, anywhere in the world who have children who are ill, or who are lost or in trouble. Thank God my two are safe up in bed.
BGFC
What I don’t understand is why bring up all this stuff now about Saville, it’s been common knowledge for years what was going on.
Were the powers scared to bring it up when he was alive ?
Too many high powered people involved, you bet your ass there was.
TET
Thanks for that. I know I should laugh but I get myself into a rage when I read of their misguided sense of entitlement and delusions of grandeur. Hope they rot in hell.
BTW…never heard Eric Reilly’s name used so much……must be the unseen fenian hand :)
Teuchter ár lá
Ernie
No, I didn’t.
Possibly though it’s about how the post was interpreted.
I think what LondonCalling was meaning was that were there others involved, as appears to be the case, that DLT was one of them, as opposed to hoping there were more involved in some sort of sex abuse ring.
I genuinely hope he was not – he is/was involved in a few children’s charities I think.
A question?
Who let the dogs out?
Is that a good enough question?
How about this one?
Who pays for all the Steak-bakes at Ibrokes?
Sorry it has been a long day.
Hamiltontim
22:54 on 10 October, 2012
‘Ernie
No, I didn’t.
Possibly though it’s about how the post was interpreted.’
###
You misread or misunderstood the post and then, no doubt inadvertently, misrepresented it.
THE EXILED TIM
22:53 on 10 October, 2012
‘What I don’t understand is why bring up all this stuff now about Saville, it’s been common knowledge for years what was going on.
Were the powers scared to bring it up when he was alive ?
Too many high powered people involved, you bet your ass there was.’
###
And how the hell did he get a Papal knighthood in 1990? I refuse to believe that the Catholic Church weren’t aware of the rumours. I’d want that whole process scrutinised.
O G
Have I missed the scoop??
Nicht a’budy
w00t, I winz page 9 podiumz
aye, so, nicht a’budy (again)
Ernie
Do you believe that the Church would bestow such an honour upon him if they were aware of his actions?
Hamiltontim
23:08 on 10 October, 2012
‘Ernie
Do you believe that the Church would bestow such an honour upon him if they were aware of his actions?’
I believe it’s possible that those tasked with investigating him may have been compromised.
I think the process should be examined to see what checks were made.
jude2005,
It’s not a scoop. Thomson will be blogging tomorrow about the culture of intimidation and how far it has reached. He was in Italy so no filming and no Youtube gold alas, but I wouldn’t bet on the future shareholders being pleased when they read it tomorrow
OG
Not how either yours or Londonscallings posts read.
MWD
Night night
BGFC
Hamiltontim
22:27 on
10 October, 2012
‘Hoping’ that someone was involved in child abuse????
Deary me…..
Hang on,Hamilton.
Were you not the guy who described the murder of one child and the maiming of another as a success ?
Hope the “Irish folk singer” in Highland Paddies in Los Gigantes has learned 4 Green Fields.
A song he had never heard of last year.
Common knowledge for years what
was going on?
Surely not!!
And if that to be true, well let
those who done nothing
rot in hell,
Ernie
Compromised how and by whom?
Moonbeams,
well that’s how I read his post and why I replied
macjay1 for Neil Lennon
23:13 on
10 October, 2012
Hamiltontim
22:27 on
10 October, 2012
‘Hoping’ that someone was involved in child abuse????
Deary me…..
Hang on,Hamilton.
Were you not the guy who described the murder of one child and the maiming of another as a success ?
————-
Pardon?
That’s an extremely serious claim to make.
Hamiltontim
23:14 on 10 October, 2012
‘Ernie
Compromised how and by whom?’
Instead of asking what the Catholic Church may have known about Saville ask yourself what Saville may have known about the Catholic Church.
The process should be investigated, if only to avoid the same thing happening again.
ET – Stop posting so much!
Taken ages to get thru the A-Z thing earlier wot wif my kafflik edukashun. ;-)
AweNaw – don’t know how you gonna compile a list or other from what you have been given. However, I would like to know the following;
1. CO – how do we know he has taken a back seat in matters pertaining to the dead beastie? (MSM stating he is a respected administrator does not wash, he presided -as Director/Treasurer – over the BIGGEST ever case of sporting malfeasance by ANYONE in the history of sport. His defence of ignorance of wrongdoing simply doesn’t wash (there’s another joke in there somewhere!) His statement that he felt that he hasn’t been doing his job since February made me laugh and cry simultaneously. When has he ever – other than preserving the continuation of the corrupt FC – did his job as set down by the statutes of the game?
2. Has minutes been taken when `their’ situation has been discussed? If they haven’t, was there an independent body there to observe AND to detail who was present considering the momentous decisions being discussed, i.e. kicking a cheating club out of the game? ( I demand to know their names and unlike FatSally I didn’t already know).
3. In respect of 2. (above), when can I view the information of what exactly was discussed? Shoorly not 20 years from now as Sir Sean puts it “in twenty-twenty-scheven?”
4. What happened to the `Fighting Fund’ monies I pledged?
5. Totally – but not wholly irrelevant – in the time that oor bhoy Whyte was being showboated by the MSM, not one iota of information was released by the MSM aboot SDM. However, the day after, and I kid you not, that oor hero bought THEM, Moonbeams had announced his engagement to his beloved and it made front page news on the redtops. Timing is everything as they say and the devil is in the detail!
Good luck Awe Naw!
HH
For God’s sake, Guys.
Don’t let the site go down another hateful & hurtful blind alley.
Get back to CELTIC.
Ernie
I look out for your posts on here more than I do most.
However, I sincerely hope I never acquire your distrust in human nature.