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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Leftclicktic
I’ve been wondering what methods of persuasion were used to pacify the former renegades
Hoopers display against Moscow was tremendous.Watt in time will,hopefully,develop into a very good player.At this time Hoops is miles ahead of Tony.
Chris Sutton ‘did a Fletcher’ by refusing an England ‘B’ call-up.
IIRC this was at Blackburn, and after he had already appeared once for their B team.
Chris Sutton was one of the best players I ever saw play for Celtic. There I’ve said it !!!
….and McCrummoch still hasn’t been given his ‘dinner’………?
Thanks to everyone who has offered their prayers and thoughts for my mate Stevie. It is much appreciated by me, and indicative of the Celtic Family showing that they care.
Curly
MadrsRua
You almost sound embarrassed saying that!
Chris Sutton falls into that category easily.
A Celtic Legend.
MIckybhoy1888
tut tut you know I dont spoon feed anyone. Especially anyone that nods in agreement with Guidi and cant find out for himself. I know to start learning at your age and with your professional training … it cant be easy.
Let me opine have you been doorstepped recently ? that you have attended much more games than me but I have definitely put in much more money so far this financial year you cheap skate.
The majority can hardly even kick a ball let alone know accurately what to tell a professional his job …. that does not surprise me … this kind of moronic chit chat tends to emanate from posters like yourself.
I agree with you I would rather Celtic players played NO international football.
Hail Hail
Madra………..sorry.
The correct address to email donations for barca game is
greenbrigade@hotmail.co.uk.
AND NOT
greenrbigade@hotmail.com,
So be careful Bhoys & Ghirls
….PFayr
19:49 on
10 October, 2012
That is what it costs to keep the ludge on side I suppose
Hail Hail
Very interesting tweets from RTC
So basically if a player knew he was cheating the taxman (by participating in an EBT) .. signatures for loans would need to be procured. There are many examples then those players WILL be stripped of their medals as it will demonstrate that they cheated knowingly
HAil HAil
curly
Just caught up with the blog.
Stevie is in my thoughts and prayers also.
Hope you and your dear lady are well.
Awe Naw.
I’ve not heard of no.3 before could you expand.hh
PF Ayr
I see your town is hot favourite to win the Carbuncle of the year award against two rivals. How will the Honest Men handle the shame?
How on earth could you lose out when Broxburn is in the running?
The third short-list contender is Leslie in Fife. I don’t know the woman but I think she should not be entered into a competition involving Ayrton Senna.
Give it to Ayr
Awe naw
Cheap Skate ? Aye probably but there you go auld Dessy has probably put more money in this finacial year than I have but I have still seen the Celtic more times than he has
OG Rafferty,
U around? Re AT’s blog tomorrow… Wasn’t there a hint of good news on Friday? I’m hoping for a birthday present…
HH
Awe naw
Would love to know the identity of the original investors in the Ticketus investment vehicles (name escapes me).
If that traces back to an oldco player…
player as in suit not hanmerthrower
sipsini
20:05 on
10 October, 2012
well allegedly have to keep Paul67 happy
When Dave King joined Rangers in 2000 when Campbell Ogilvie was secretary he invested 20 million pounds and became a non executive director. 6 months later he was paid 25m pounds by Rangers FC through an EBT and Campbell was still club secretary.
Hail Hail
mickbhoy1888
20:06 on
10 October, 2012
pulling your leg ,,, were you at the Motherwell game ?
Hail Hail
Curly hope your mate Stevie gets well soon, its hard to muster the strength for posting tonight after hearing the news about wee Oscar. The Knox family have come through so much.
Thoughts and Prayers
God Bless
HH
Just been catching up…so saddened to read about Oscar’s news.
You never really know what to say in such circumstances and what you do say is never enough.
There are those of us that pray and have faith and I will pray for Oscar, his family and friends. None of us in my opinion will never understand why things happen.
Oscar’s family and friends have rallied round his cause and done our best to give him every opportunity to overcome, part of that was going to Philadelphia. It has not worked out as everybody had planned and hoped. However, the wee man is not beat yet. Pray for his recovery and hopefully one day he can walk out onto Celtic Park and take a bow in front of his Celtic Brothers and Sisters.
God Bless Wee Oscar, I have and will continue to pray for you.
Keep the Faith!
Hail Hail!
Tooting tim
search out octopus .. I think there are 25 individuals involved with that particular financial instrument-vehicle- dodge
Yeah I wonder how many EBT´s are involved somewhere down the line
Hail HAil
EDB –
Thanks for that my friend.
Aye, we are keeping well. Working hard and living sober. I hope you and yours are also keeping well.
The sober part may change next week as I am down for a couple of days with one of my pals for some golf, at Gleddoch and Mar Hall, the latter also with TaggsyBhoy and BlantyreKev. Hope the weather stays fine for us, but Scotland in October never stands up to forecasts. Therefore we shall just have to accept what is launched at us!!
Off out for a wee throw of the darts – practice for the next match tomorrow evening. We are so far unbeaten this season, 1 win in the League Cup, 3 wins in the League, and up against one of our main rivals next. The way I have played these last two weeks, I need the practice!
Later dudes!
Ulryc
AWE NAW
1. Who is C Green working for.
2. What does CG know about CO & other SFA members that allows him to act without fear of consequences.
3. When will Grant Thorton(accountant) be asked to explain his company signing off DEADCLUBS Accounts.
4.Did any member of the MSM get paments from DEADCLUB as an “outside source”.
5. Did ANY member of the refereeing committee in Scotland get any payments from DEADCLUB as an “outside source”.
6.Are any members of the SFA or refereeing committee”MEMBERS OF A SECRET SOCIETY.
7.Will all EX players of DEADCLUD who received “LOANS” be asked to pay them back.
AND CANT BEAT 3,5 and 9 on your list.
HAIL HAIL
Awe naw.
Would that have anything to do with rumours concerning Murray and an extradition,allegedly.hh
Thank you leftclicktic … excellent .. you still have thee spare
I think most of them will end up in the fit and proper sectoin
HAil Hail
Or…….
davie, how deep is yer fish tank?
Grimmond, does yer granny still live at No 30?
CoverYerWork CSC.
bankiebhoy1
never been a bee gees fans never
HAil Hail
sipsini
20:18 on
10 October, 2012
extraditing a knight of the realm one that smells like a baboon and is an ignorant B ***** thats not bloody surprising man … I wonder where
HAil Hail
Economically Viable Rangers: Not Then, Not Now, Not Ever!
stevebhoy, 20:07
Many happy returns (mine on Saturday).
Yes, it’s what was going to be filmed (and so would have been Youtube Gold) but will now just be a blog I think, though he may return to it.
Cross. Zombies. Alert.
Awe_Naw_No_Annoni_Oan_Anaw_Noo
8. Ally(ya fat sleekit coward) whits the real story behind the
£500k or 5% share in SEVCO (A DEMAND TAE KNOW):)))
A good read
http://maleysbhoys.com/2012/10/10/the-a-z-of-why-theyre-still-dead/
Or….
Jimmy is that ‘midnight raven’,’ black noir’…..or a ‘hat’?
Evening Bhoys and Ghirl,
Got back last week from a wee hol on the Costa del Sol, using an apartment hosted by one of our own. I know it’s abit late in the year now but take a look at the website and if you fancy it copy the link for future use.
Highly recommended, very comfortable, easy reach from Malaga airport, well placed for various activities, sights and cultures. (We indulged ourselves in an overnight in Seville, about 3 hours drive away!)
http://www.nice-costa-apartment.co.uk/
My son was telling me billy mc neil and paddy crerrand were being filmed at his school today,holyrood sec.
Supposedly a documentary being made about paddy.hh