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.
[calameo code=000390171a36dad35d58c lang=en hidelinks=1 width=100% height=500]
636 Comments- Pages:
- «
- 1
- ...
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- »
ernie…,
all the honors;
In the 1972 New Year Honours, he was appointed Officer of the Order of the British Empire (OBE),[65] which he always subsequently appended to his signature.
He was awarded an honorary green beret by the Royal Marines in the 1970s for being one of only three civilians to date to complete the Royal Marine Commando speed march, 30 miles across Dartmoor carrying 30 lb of kit.[66] The other civilians were former Blue Peter presenter Gethin Jones and film maker Chris Terrill.
In the 1990 Queen’s Birthday Honours he was knighted “for charitable services”.[67] Also in 1990 he was honoured by Pope John Paul II with a Papal knighthood making him a Knight Commander of the Order of Saint Gregory the Great (KCSG).
He held an honorary doctorate of law (LLD) from the University of Leeds.[71]
He was an honorary fellow of the Royal College of Radiologists (FRCR).[72]
He had the Cross of Merit of the Order pro merito Melitensi.[73]
He was a Freeman of the Borough of Scarborough.[74]
Yet there is only one on your list why
Neil canamalar Lennon hunskelper extrordinaire
00:17 on 11 October, 2012
Rank those in order of importance. Importance to you.
Then look at your question.
Looks like people would rather not ask how Saville came to get a papal Knighthood.
Like a dog to its vomit…..
Good night
To you good guys..
I need to get up early ,
Gives me more time
to laugh at the huns …
Happy Celticing ….
ernie….,
none of them are important to me, none its all tosh for elitists.
Now ask yourself why it became a news story when it did, as soon as Harriot Harmen made her comment on question time I suspected they’d find a catholic as a distraction and within a couple of days low and behold.
Orchestrated IMO for easily distracted fools to refocus their anger away from the current situation in yorkshire.
estorilbhoy
00:06 on 11 October, 2012
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,
And your answer is?
ernie…,
maybe the vatican thought the British establishment had investigated prior to naming him in the new years honors list. Especially a catholic eh
Moonbeams WD, 23:40
There is nothing in those posts that suggest any injustice either. If someone has carried out those offences I hope they are punished accordingly and if it was found out to be someone I disloke then I would get a greater sense of satisfaction, based on my personal prejudices.
There are some old Rangers players that never annoyed me and some I hated – if there was a red card to be given out (ho ho) I would cheer louder if they got it – but only if they deserved it
Apparently Ernies answer was silence, pity. Bedtime folks. Prayers for wee oscar and curlys friend. Stay good and keep safe. Keep the faith.
Hamiltontim
23:16 on
10 October, 2012
macjay1 for Neil Lennon
Sorry for the delay in responding.
I made no claim.
I posed a question to which you made no reply.
Of course,if you were not the poster who described the events at Mullaghmore in `79 as
” a success for the I.R.A.”,then I would apologise unreservedly for any suggestion,however unintended, that you were.
canamalor 10 ernie lynch 0
1. Who in the SFA now or in the past have been EBT recipients?
2. Who in The SFA not recipients of EBT’s knew about them.
3. What Rangers employees have been recipients of Rangers funds not disclosed to the SFA?
4. What non Rangers employees have been recipients of funds from Rangers that have not disclosed to the SFA?
5. Was there any communication ever between Murray and Ticketus?
6. Who owns the deeds to Ibrox?
7. How much hun funds have been transferred to Sevco
8. Who are the missing EBT beneficiaries
9. Whats taking Nimmo so long
10. Why does the donut have to mention the huns at all to the media?
It has been reported that the roaming Catholic Church is considering stripping Savile of his KCSG.
Howzabout that then? I’d say close but no cigar.
Sorry to interrupt,but just reading back on the various political debates…mostly regarding those Tory things,and what not.
Firstly – their evil genius – these politico,ruling class that have now replaced the old feudal/monarchs – this has now turned full circle,but it is still slavery in another form – very much like the peasants,under the monarchs – they were not slaves,as such,but through the taxes and penalties,it was slavery,under a different guise.
The politicos then seized POWER.It was all good at the start,but now it is back down to how it was before – greedy cants taking over from other greedy cants.
But it is a democracy,i hear you say? – is it fcuk!!
Why? Sure those Tory things were voted into power,one man one vote,and all that there and all.
The majority didn’t vote for these things,i can guarantee you that – the majority are the poor – they were once known as the working class,but now there is no such thing,because they are not working anymore – i would call them a sub-class.
But why are they not voting?? – because they have been made totally disenfranchised – they can no longer just walk up to a polling station,with their ID and put an X beside their choice of candidate.
Nah,a person must register first,fill in all sorts of forms…blah,blah,blah.
Why bother?
1. Where is Ld. Hodges report?
2. Why has C.O. not resigned?
3. Why has ther been no further info from Daly re. the mibs as he promised in his documentary?
4. Why are Rangers still referred to as Rangers?
5. Why were assets valued at £140million sold for £5million that no one has seen yet?
6. Why did Duff & Phelps still try to sign Cousins when the club had gone into administration?
7. How much is currently being paid to Ticketus?
8. Has CG got enough to cover costs ’til Christmas?
9. How much has been conned via that laughable crossbar challenge and what is that money being used for?
10. Why did Green have such a high profile meeting with Loyalist thugs in Belfast?
There are many more unanswered questions, but I smell a giganto-rat in the whole thing.
I suspect this ‘share offer’, if it could ever be got off the ground, is a money laundering scam.
But hey, I’m jus an internet bampot. I only see what everybody else can see. Zoot suits, camelhair coats, expense accounts, shaven headed thugs, vulture capitalists, Arthur Daley, DelBoy and Rodney, Coco the Clown, and anyone else who fancies their chances in Green’s shady juggling act.
Who in their right mind would vote for those Tory things?
Stupid English people,that’s who.
But not the majority of English people,obviously – only the ones that are best served by these cretins – while their own people,once proud working class communities,that were destroyed by the Thatcher government,and have since slipped into the mire of hopelessness and addiction.
But sure what about Scotland? The poor were always poor,despite and before the oil,and even when coal was mined!!
They took,and they took more.
Bleed the people dry they did.
See….with assets valued @ £100million, but you got them for 5% of that, then you could leverage a nice little pile of readies and do what? Why…pretty much what you liked. Like squirreling away a pretty little nest egg while the storms are raging all around you. Remember, Greenie said he’s only here for a year. He stirs up hornets nests, he spouts endless innuendo, thus keeping the indignant smurfs jolly, as he trousers all the loot he can, and having exhausted all lines of bull$#+¥ he says,” Well ah did me best, but there were nowt ah could do abaht the current financial climate, so ah’m rollin’ oop me tent and movin’ on. Good luck and goodbye.” And with that he departs, off to count the orcish coin and chuckle at the stupidity of the gullible…..many of whom he has just gulled.
The hundead.
I agree with the priority of the… erm…stout chap outside Ibrox.
Stuff the peripheral stuff.
The criterion for survival of the hundead is that they continue to play at Ibrox.
When that ends,they end.
A consummation devoutly to be desired.
Anyway – one for the rebels,Gary Og himself:
http://www.youtube.com/watch?v=qx2ExLiuNE8
Squirrel crew:
http://www.youtube.com/watch?v=Q19KN5UV3bM
Oscar Knox@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 pic.twitter.com/jEV018Kw
We are with you Oscar
God bless wee Oscar
Sixteen roads to Golgotha
02:47 on
11 October, 2012
Who in their right mind would vote for those Tory things?
Absolutely who indeed
Selfish uncaring egotists who hate…………………………..HUNS
Neil Doncaster has been on 5 live with the funniest routine after his ludicrous armageddon nonsense! love this PR guff
“We’ve had to re-invent ourselves but that’s happened pretty quickly and clubs have adapted,” said Doncaster.
“The SPL and the clubs have adapted remarkably well to what people really couldn’t ever see happening.
“It was such an unforeseeable thing that one of the major houses, the economic power houses, in Scottish football should suddenly be out of the SPL
“I don’t think anyone around the world who you speak to can quite believe that what happened happened, but it did.”
Can someone at the SPL offices show Neil a Computer, the internet is an amazing resource Neil it might have helped you see the unforeseeable
“All of our major partners and major sponsors, they’ve stuck with the SPL and that’s enabled the clubs and the league to go forward with huge confidence.
“People had the opportunity to walk away over the summer and chose not to. They’ve stuck with the league and that’s important.”
Thank god for the SPL that everybody from fans to sponsors classified you as a complete clown of a CEO and ignored your end of the world is nigh nonsense and carried on with the fitba
Morning bhoys, are you up yet Jobo? What’s the weather like this morning?
Anyone else think the CQN nightshift sometimes resembles ole Art Bell and his Coast to Coast show?
Not a bad thing.
Good morning all from a slightly damp but also slightly milder than of late East Kilbride.
ticketbus, apologies for the delay ;-)
Remember to get your league cup quarter final tickets now…
;-) cheers jobo.
Usada chief executive Travis Tygart promised the evidence against Lance Armstrong and his five co-defendants would be thorough. He wasn’t kidding.
“As requested by the sport’s governing body, the UCI, Usada has now sent them its ‘reasoned decision’ as to how it found the seven-time Tour de France champion guilty of running a systematic doping ring. It has also sent 1,000 pages of eye-witness testimony, lab results, scientific data, emails and financial records, evidence Tygart describes as overwhelming, conclusive and undeniable.
“Cycling’s equivalent of War & Peace will also be published on Usada’s website later today… it will be gruesome bedtime reading for Lance Armstrong’s dwindling band of believers.”
Will we have SPL Neil Doncaster revealing the evidence against the ole Rankers?
Morning all from Tottington where it’s a dull but dry morning so far.
A few golfing mates suggesting a trip in early March for their 40th’s with Spain and Portugal the choice of destination.
As the golf is a popular pastime for many on here can anyone suggest a decent course/hotel in either country where the weather for that time if year may offer some sunshine?
Thanks as always
Big Swee
“We’ve had to re-invent ourselves
but that’s happened pretty quickly
and clubs have adapted,” he
explained to the BBC.
“It was a traumatic summer for
everyone involved in the game in
Scotland. We were delighted to
see the season get under way and
the focus be back on football once
again.
“There’d been so much discussion
around the whole Rangers
situation. To get the season under
way, to then be looking forward
rather than back was a great relief
for everyone.
“The SPL and the clubs have
adapted remarkably well to what
people really couldn’t ever see
happening.
“It was such an unforeseeable
thing that one of the major houses,
the economic power houses, in
Scottish football should suddenly
be out of the SPL.
“I don’t think anyone around the
world who you speak to can quite
believe that what happened
happened, but it did.
“All of our major partners and
major sponsors, they’ve stuck with
the SPL and that’s enabled the
clubs and the league to go forward
with huge confidence.
“People had the opportunity to
walk away over the summer and
chose not to. They’ve stuck with
the league and that’s important.”
Doncaster’s defence of his
summer action is that he was duty
bound to provide clubs with a
worst case scenario following the
demise of Rangers.
Morning,
Stupid phone posted before I got that in.
Dungcaster all smug about his ‘end of the world’ prattle over the summer.
Big swee
Portugal and spain are good for golf with places like la manga offering good deals but its expensive when you get there.
Turkey seems to be he place to go. Fantastic courses and great prices…especially all inclusive deals
..
Sevco announce at 07:05 their intention to float on AIM market and raise £20 Million to strenghthen the playing squad, improve and develop the clubs property & facilities and provide additional working capital.
Stupid zombies wont even question point one during a transfer embargo. Looks like too many awkward articles and questions have spooked Sevco into action.
Chuck once again states Sevco are debt free. I thought the money they paid the administrators was a loan, is that not a debt?
Sevco announce at 07:05theirintentionto float on AIM market andraise £20 Million
Don’t we get that amount EVERY year for being in the champions league
So Rangers say part of the floatation is for squad investment. They’re under a signing embargo, so that can only mean paying wages. In which case the whole thing is more or less for working capital or as a mechanism for getting money out. Neither of which are particularly good.