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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Oh Yeh !!!
Lets do a bit of catholic bashing
while we on the subject …
Let the honesty of my church,
in believing that all people
are good, be tarnished by
people who lie for the
sake of there evils,
I just think it is beyond disgusting how some human beings can be so vile……. Shocking to the core ………a sad, sad world
AoW
Soreeeee :>)
Hamiltontim
23:22 on 10 October, 2012
‘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.’
And yet Saville was awarded a Papal Knighthood when any reasonably informed individual, never mind someone tasked with investigating his background, would have been aware of his reputation and the persistent allegations about his behaviour.
Go figure.
Remember this
http://www.bbc.co.uk/news/uk-scotland-19569680
At the time it was originalyy posted in the sports section.
Now if I remember properly the original article identified the 12th of Oct as the date of the court announcement, yet this article does not, was I mistaken, embdy keep a copy of the original article.
Awe Naw.
Good luck with your list.
Il look forward to reading it.
Thanks for the info earlier on no.3.
Itl be another one to worry the huns.about tomorrow.
No doubt tonites bitchfest will go on.
Nite bhoys.
Wee Oscar in my prayers and kids tonight.hh
If you crouch down and put your ear to the blog you can hear the muffled sounds of fights being started in empty rooms.
Take a bow London Calling.
Thers a wee Ghuy fighting for his life out FGS.
https://twitter.com/Wee_Oscar/status/256056462969810944/photo/1/large
Ernie
It was a more general analysis of your posts rather than any one in isolation.
Wee guy on TV just climbed 40 metres up a tree in Burma and fought off bees to get some honey for the wife and she thinks he’s a hero. I have just done the Scottish alternative and walked 200 meters to Londis and fought off neds wanting to sting me for cash and do me harm so that the wife can have some crisps. It’s a jungle out there!
HH
ps. wife wisnae impressed!
canamalar
Leggo went on about the 12th for a time, he since revised it to the 25th if I remember correctly.
Off to bed. Right St Jude I want a word with.
Jude
You’re correct, my apologies.
Please God grant the Knox family the courage, endurance and strength to continue undaunted.
Night.
ernie lynch
23:30 on
10 October, 2012
Hamiltontim
23:22 on 10 October, 2012
‘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.’
And yet Saville was awarded a Papal Knighthood when any reasonably informed individual, never mind someone tasked with investigating his background, would have been aware of his reputation and the persistent allegations about his behaviour.
Go figure.
—-
Ernie, not as big an expert in this area as you but if this was such common knowledge which “any reasonably informed individual” would be aware of, what did you do about it?
I had no knowledge ( therego I am unreasonable and uninformed ) but can assure you if I was made aware would not hold back in ensuring this was made known. What did you do with the information?
neil canamalar lennon hunskelper extrordinaire
I’m pretty sure 12th is day Admin ends and BDO take over. The date of the fttt decision was never publicised.
you.
It was the tears!!
londoncalling
22:16 on 10 October, 2012
Anyone else secretly hoping that Dave Lee Travis is one of the Radio 1 DJs suspected of helping a certain Mr. Saville to do as he pleased?
o.g.rafferty
22:19 on 10 October, 2012
LondonCalling, 22:16
Not me. I’m hoping it was the prissy slimebag that is Mike Read.
——–
Both post suggest a personal dislike of another human being and due to this dislike for the person/s that their is a hope that one or the other, dependant on Londoncalling or your dislike for the person that there is a hope that they were involved in peadophelic sexual depravity.
There is nothing in either of your posts that suggest anything in relation to justice being served on anyone involved.
MWD
Tooting Tim.
I know!!.i,m not a very frequent poster (daily reader)
perhaps a different subject would have been better to try out the new phone..
estorilbhoy
We have know that the huns have been cheating for years, we all knew, they called us paranoid.
We shouted from the rooftops, they laughted at us, we have told them for years the referees are bias towards the huns, they laugh at us.
ernie..,
while I agree that all such crimes should be investigated and prosecuted to the full extent of the law regardless of where the trail leads.
There is a current ongoing situation in yorkshire, were police and social workers labelled the slaves as prostitiutes and ignored their plight simply because of their social class.
I also raged that this saville story has deliberately been used as a distraction from the current issues, while people are questioning history they are ignorong the here and now.
Harriot Harmen’s first words on question time, when she was asked about the current situation in yorkshire were; the Catholic Church know all about these things.
IMO your line tonight is no better than her or the meeja.
Theres very little that can be done to protect the victims of saville and who ever else was involved, theres plenty that can be done in yorkshire.
Why are you so keen on the distraction.
Was Saville also given a knighthood
by there queen??
Did he also hang about with royalty ?
Did he also hang about about with the
famous ?
Did he also hang about with the
rich?
Didn’t see him hang about
with the Pope ..
I Must have been at mass
when that happened ..
Message from Camp Oscar.
@Wee_Oscar: #TeamOscar don’t let me down, I’m fighting hard to pull thru in USA, I need ur support now more than ever! #galaball http://t.co/jEV018Kw
MWD
Hamiltontim
There are more reasons today to distrust human beings than there are to trust them, I’m afraid…… More than ever, we live in a world where most people have never learned RESPECT………’what’s in it for me’ is the priority nowadays, survival of the fittest……. Don’t get me wrong, there are wonderful people also, but they are ‘fighting a losing battle’ …. The age of amazing media / communications is being exploited, not to provide education, or entertainment, but to make money …….our and simple greed, as witnessed by this recession to end all recessions ……..OK, back to being my usual cheery self …. Night all……..
Night bhoys.
Take care and god bless.
HH
Michael,
I’m dead sure the court announcement identified a date, which is what you’d expect from a court, they rarely do estimates.
Remember I said the article was originally published in the scottish football sports section it has subsequently been moved and all traces of the original publication removed.
estorilbhoy
23:37 on 10 October, 2012
‘Ernie, not as big an expert in this area as you but if this was such common knowledge which “any reasonably informed individual” would be aware of, what did you do about it?’
I assume that by now you will be aware, from various media outlets, that the rumours about Saville have been around for decades and were widely known.
The police and other authorities were aware of the stories. The police have confirmed as much. I’m not sure what the purpose of your question is, other than an attempt at deflection.
Against that background how did he get a Papal Knighthood?
Was there any investigation? Any checking done?
Am I the only one who thinks it’s odd? Is no one else concerned?
Or is it better to turn a blind eye? Keep quite? Don’t cause any embarrassment?
SUNNI CAMLACHIE
23:43 on 10 October, 2012
All sorts of scum get awards from the queen. I expect better from the Catholic Church. Don’t you?
praecepta
21:19 on 10 October, 2012
1) When you received the nett payment – were you given paperwork that qualified that; tax, PAYEE, N.I. had been deducted at source?
More to the point – why would tax and NI be relevant to a loan (since these were loans not payments, right?).
2. How do we equate David Murray saying the EBTs were non-contractual with Billy Dodds saying he got his one to pay his contract up?
3. How would any of the “Rangers people” who insist that “the debt was coming down” when Craig Whyte took over (which of course it wasn’t – it was skewed by 2 years of CL money) have funded the club in the 2011/12 season?
4. Why was the UEFA licence awarded for 2011/12 when the bill for the “wee tax case” was still outstanding?
5. When the club was clearly in financial difficulties, what steps were taken to get the EBT loans repaid?
6. Why was Neil Doncaster (the Chief Executive of the SPL) at the meeting of the SFL clubs to decide which league “Rangers” should be placed in?
7. When are the moonbeams coming?
the exiled tim
23:42 on 10 October, 2012
estorilbhoy
We have know that the huns have been cheating for years, we all knew, they called us paranoid.
We shouted from the rooftops, they laughted at us, we have told them for years the referees are bias towards the huns, they laugh at us.
—-
Prayers with Oscar, may god give the Consultants the knowledge to bring him through.
TET,
Agree, and you did the same with jimmy Saville????. Easy to say this was done in hindsight, only asking for those who are now joining on the Saville bandwagon what they did about it up until 2weeks ago.
Neil canamalar Lennon hunskelper extrordinaire
23:43 on 10 October, 2012
Ridiculous. You think my posting on here is going to influence what’s happening in Yorkshire.
I didn’t raise the topic.
Why do you want to change the subject?
67 heaven
Please don’t give up on people ,
I get to know a lot of people
through my work and social
life…
And i would say that more
than most are good people,
Celtic family,
CQN ers ,
To name a few..
Happy Celticing …
neil canamalar lennon hunskelper extrordinaire
23:30 on 10 October, 2012
Think 12th Oct was BDO taking over formally from D&P…
ernie…,
exactly who are you trying to influence
you raised the topic about the Catholic Church, you have no idea about the requirements for a knighthood or a papal knighthood for that matter yet you attack the church before you attack the queen, remind us which knighthood came first
Ok, who remembers Davide Gaultieri?
I can remember exactly where I was and what I was doing when he had his 15 Warhollian minutes.
8.3 seconds…still a record…
Sorry Ernie, I’ll copy your statement again for clarity. Your statement was that that ( no paraphrasing )
“‘any reasonably informed individual would be aware of,”.
So there are three reasons you did not do anything :-
1. You are unreasonable.
2. You are uninformed
3. You were unaware.
No tricks just wanting you to support your criticisms of his papal knighthood ( honest :))
Ernie Lynch
Your posts are always worth
reading …
you come across as an
educated man,
But i don’t understand
your point about the
Catholic church…
Have they done you
wrong ?
Congratulations to John Hume, the greatest Irish politician of the last sixty years, on receiving his Papal Knighthood.
Prayers for Oscar and Curly’s mate, Steve.
Goodnight CQN, sleep well.
Anyhoo
I personally blame
international football
for all this evil
debating on CQN tonight ..
Lets leave it to 5 Live
and Kay Adams…
Happy Celticing