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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Danger Snooze time on train………on the ole Larkhall Express Zzzz
Ticketus please
God please help wee Oscar and his family, if ever anybody needs a break it’s the Knox family.
Sure puts all the political bull going on in it’s place.
HH
Train journey back home from work notable incidents so far;
None
tooheys new
16:20 on 10 October, 2012
HS but i take your point.
The Help for Heroes campaign has been so aggressive in it’s marketing and funding that it is having a detrimental affect on all other charities
———————————————————————————-
I do not contribute to Help for Heroes. I ask the collectors why should I as they were injured or whatever doing their job and it should be their employers who look after them.
Interesting article about the famine
think it will be of much interest to some bhoys,an ghirls
BB
TUESDAY, 9 OCTOBER 2012
Let’s stop sparing the details
I like George Monbiot. For a start he knows an awful lot of stuff, and for another he’s not afraid to speak out. He had an article in The Guardian the other day that almost literally took my breath away. It was about those Kenyans who had been mistreated by the British during the struggle for independence.
As he says himself, he spares the reader no detail.
“We have been sparing ourselves the details for far too long. Large numbers of men were castrated with pliers. Others were raped, sometimes with the use of knives, broken bottles, rifle barrels and scorpions. Women had similar instruments forced into their vaginas. The guards and officials sliced off ears and fingers, gouged out eyes, mutilated women’s breasts with pliers, poured paraffin over people and set them alight. Untold thousands died.”
And of course it was all covered up as officialdom lied and lied again about what they had done and were doing. It’s hard to believe that human beings could do such things to one another but it’s obviously possible. Monbiot suggests it’s because people have been persuaded to think of those they are oppressing as being ‘the other’ – not like us, a lesser species. Almost certainly something of the same thinking obtained in the time of the Irish famine – or An Gorta Mor, to be more exact – the Great Hunger. A million people were allowed to die and a million more had to emigrate, many dying en route in the ‘coffin ships’.
What’s that – the British didn’t let them die? Mmm – sorry, can’t go along with that. If food is being shipped out of a country – food of all kinds – while the people of that country are starving, I’d call that letting the people die. In fact, I’d go further – I’d say An Gorta Mor looks suspiciously like genocide. I’m not saying that the British attempted to wipe out the entire Irish population but that’s not the definition of genocide. What was inflicted on the Irish people killed a million, forced another million to leave the country, and left a psychological scar on the Irish that remains to this day.
I’m writing these words from London, where I’ve always found the people to be at least as good and pleasant as in any other city. So how could their ancestors have been so stony-hearted in the face of Irish starvation? I think Monbiot got it – they thought of the Irish as ‘the other’, and there are still traces of such thinking among portions of the English people.
It’s a hugely interesting as well as ghastly period of our history, the mid-nineteenth century. Maybe we should know more about it.
Posted by Jude Collins at 5:09:00 PM
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Sorry about the full drag there
only getting used to this copying lark
BB
Tootingtim
”
Wee Vincy,
are you working away?
Away in Woking?
Ally demands to know, etc ;)
There will certainly be more gelatinous feasts if sevco do founder”
Sorry to be so long in replying. Been working. In Woking, but not away. Lived here for years.
I was trying to be careful not to say
“…Woking away” in case anyone might cast asparagus at my background!!
JustcantgetenoughjellyCFC
Philvis
:-) A consensus between us almost
I´m away to listen to a Sinead O´Connor album to celebrate.
TBB
I realised that you were being ultra conservative for them regarding your figures… which is always a good thing as they seem to get away with murder on the financial front.
——————————————–
The Knox family ….. thinking of you guys.
HAil Hail
Paul67
are you a NUJ member ?
HAil HAil
Chris Graham @ChrisGraham76
I see @alextomo has been battering on about an “RFC threatening underclass”? Sure Phil and Greenslade are delighted with him. #haveacookie
alex thomson @alextomo
@Hunskelper1967 I’m gouing discuss a lot more than a few threats to journos.
They will be livid at his blog tomorrow but as Alex Thomson is in Italy it’s unlikely that he will be able to turn in a Youtube Gold moment.
Thoughts are with wee Oscar and his family.
There inner strength is remarkable.
There = their
iPhone fingers
Awe_Naw_No_Annoni_Oan_Anaw_Noo – Always felt sorry for poor Sinead. (thumbsup)
Good news for fans of former football club Rangers as the US Postal Team emerges as credible rivals for the title: “World’s Greatest Cheats”.
the battered bunnet
18:07 on
10 October, 2012
Good news for fans of former football club Rangers as the US Postal Team emerges as credible rivals for the title: “World’s Greatest Cheats”.
Have they been delivering the mail to the wrong houses?
We’re they nicking the giros?
Or just the Giro D’Italia?
O.G.-Good to hear that AT is still on the case,one of the very few proper journalists seeking the truth.
The Battered Bunnet – Good news for fans of former football club Rangers as the US Postal Team emerges as credible rivals for the title: “World’s Greatest Cheats”.
The UK postal team thought about cheating, but decided to sneak up to the front door and slip in a “sorry you were out” card instead. (thumbsup)
Wee Oscar and his family in my thoughts and prayers.
May God give them strength and hope.
What are the US Postal Team up to?
Cheating should be stamped out everywhere.
HH
Noticed today’s (Glasgow)Herald had a picture of Minty in its business pages…..talking up(the herald was) his business..
only in Scotland would such PR drivel be tolerated….
Minty left a carcass of chaos and misery behind him, people looking for millions(according to Duff n Duffer)and yet here we have one of our principal papers still supping his succulency….
Makes you want to throw up….
HH
My thoughts are with Oscar and the family this evening.
Evening bhoys, hun free as ever on the mountain.
Sad news about wee Oscar.
Thoughts with the family.
Harry Hill says:
Who are the world’s biggest sporting cheats, US Postal or The Sevconian Zombie Tortoises?
There’s only one way to find out.
FIGHT!
Thoughts and prayers are with Wee Oscar and his family .
Would like to say more but can’t find the words.
Gordon_J backing Neil Lennon
18:30 on 10 October, 2012
What are the US Postal Team up to?
Cheating should be stamped out everywhere
—————
Agreed once they address the problem they should have the situation licked
Erratum. That should have read The Sevconian Zombie Galapagos Tortoises.
TONYG,
Delivering puns like that is really pushing the envelope.
Good evening CHAMPIONS
Shocking news about wee Oscar, stay strong wee mhan, and your family. You are in mrs weefra and my prayers.
Weefra HH
Went to pick up daughter and grandkids at Malaga last night, total chaos.
A bit of fog, enough that Ryanair flights couldn’t land and most other airlines could.
Daughters flight from Prestwick actually tried to land, general concencus was that the pilot nearly overshot the runway, hit the tarmac and climed again and decided to land in Sevilla, total shambles.
She didn’t have a clue as to what was happening as they were told nothing, eventually bussed to Malaga, Got to my bed at 6 this morning, I am living up to the name the grandweans call me…..Grumpy.
Another Ryanair flight from Leeds didn’t have enough fuel to circle also went to Sevilla.
Never seen so many upset punters.
You get what you pay for from O’Leary.
Have to agree with everything Mark Guidi saying about England Strikers
gordon_j backing neil lennon
18:40 on
10 October, 2012
TONYG,
Delivering puns like that is really pushing the envelope.
Just think if the US Postal team delivered your mail. You would be expecting a same day delivery.
Btw GB looking for donations for big flag to display at Barcelona
Flag or San Miguel hmmmmmmm let me think about that one
Rangers Tax-Case @rangerstaxcase
@6ixty7 If the business is not sustainable without finding a stream of new investors, yes- it would be a Ponzi scheme.
m1888-Agree.
mickbhoy1888
Do you honestly believe that Wellbeck, Sturridge and Carrol are better than Hoops ?
I thought you knew something about football :>)
The final episode of Good Cop is on BBC 1 this Saturday at 10.30pm.
mickbhoy1888
18:44 on
10 October, 2012
Btw GB looking for donations for big flag to display at Barcelona
Flag or San Miguel hmmmmmmm let me think about that one
If you have any doubts do not donate. Easy.
TET-I think it has a lot to do with the league we are in,on form he is well ahead of a lot mentioned .HH.