30% interest! Nice one, Newco Rangers, you’ve got yourself a deal there. Suggestions that your business plan has been, and remains, unsustainable and extravagant are patently absurd when you can borrow at the kind of rates a Zimbabwean pimp would get at the height of the ZWD’s recent hyper-inflation episode, although it’s probably worth noting that Zimbabwean businesses are currently borrowing at slightly less than half of what Laxey are charging Newco, solvent ones, anyway.
An administration would be a severe embarrassment to the Newco, less than two years after its incorporation, but in many ways it would be a boon, allowing the club to offload all the high earners and establish a breakeven trading platform.
It is utterly incomprehensible why they have not called in the admins, which itself shines a light on management processes inside the club. No one seems to be asking, “What next?” Getting deeper into hock with a hedge fund is ruinous. Notions that if the loan is turned into shares would be a soft landing for the club are absurd. This is a hedge fund. A HEDGE FUND!! The more shares they have, the more exposure they have, the higher return they will demand.
Need some new players, tough, pay my money. Ticket sales down, that’s disappointing, cut back and pay my money. Got some maintenance work to do, I don’t care, pay my money then see what’s left.
Keep your eye on the sale and leaseback plan, although not until September. They should commission a brass statue of a Newco season ticket holder, touching his toes, with the motto ‘Brace yourself’ below.
The only question left is who will be the complicit front man for season ticket sales this year?
Most people are only beginning to realise the consequences of the events of 2012, or what it means to be a zombie club, walking around, not quite the same as before, with various groups randomly gorging on you. Nothing will ever be as it was. Ever. They should’ve listened, before high-fiving Sir David Murray, then Craig Whyte, then Charles Green. It’s not like we didn’t tell them.
If you’re in the football business, rule number 1 is: Pay your bills. Every other rule, value and aspiration cannot be met without this rule.
Many thanks to everyone who submitted questions for last week’s Celtic Forum. The minutes have been published, and are available here.
If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
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big packy
Scots are actually Celts made in Ireland and living somewhere else
HH
This guy Docherty must be either the bravest Tim in Scotland or a soup taker extraordinaire
If he finds against the deid Huns the zombies will go berserk given his religion,schooling and football interests
That suggests to me that he will find in their favour with a recommendation that HMRC be allowed to appeal to a higher court
suspiciousmindsCSC
HH
ryecatcher
23:08 on
24 February, 2014
Nat know …
If Annabel had baws……
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She’d have 2 pairs!
Auldheid…
Is there an agenda for this meeting?
Will minutes be taken , then freely available to access online?
the battered bunnet
23:09 on 24 February, 2014
estorilbhoy
A certain knight of the realm has best part of £6M riding on it personally, while a partly state-owned bank is exposed to a bigger chunk via its debt-equity position in one of the participants.
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TBB many thanks for clearing that up and confirming my posts are not invisible :)) if SDM is liable are benefactors of the tax scheme not also liable?
Hail! Hail!
From montgos67
Have a look at the CV of this guy http://t.co/4uc2wqr11i
Now google Judge Doherty
jude2005 is Neil Lennon \o/
23:04 on 24 February, 2014
I think big Annabel could show a good night in the best possible way of course!!
____________
I don’t think she ever married? So is still available.
dont understand your post are you scottish or irish celtic supporter i mean.
Do you think Ruth Davidson would beat big Annabel in a square go?
TONYG
Mmmmmmmmmmm
Not Know
2 pairs?? Is that 8?
ryecatcher
23:17 on 24 February, 2014
Do you think Ruth Davidson would beat big Annabel in a square go?
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I’m thinking Big Daddy v Wayne Sleep
The chosen Judge could be a Holyrood Production,Salmond won’t want any distractions leading up to September.
TONYG
23:14 on
24 February, 2014
jude2005 is Neil Lennon \o/
23:04 on 24 February, 2014
I think big Annabel could show a good night in the best possible way of course!!
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I don’t think she ever married? So is still available.
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Inter alia, Annabel “…sits on the West of Scotland Advisory Board of the Salvation Army”. Wiki doesn’t mention whether the advisory board are men or women. If women, they must be well-upholstered to bear such a load.
The Salvation Army, as you know, spend most of the donations given to them on trumpets. So pretty much in keeping with the Tory party overall….
2 pairs of comfortable shoes.
estorilbhoy
Who will be paying for the defence case at today’s tax case? In other words who stands to lose if HMRC win?
—
The answer to that is simple and logical
The ordinary man in the street who pay his tax at source without the choice of negotiation
Time the rich tax dodging badgers got flushed out before there is nothing left for them to steal from this world
In a world of diminishing resources every penny will count
HH
jude2005 is Neil Lennon \o/
23:19 on
24 February, 2014
Not Know
2 pairs?? Is that 8?
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It is for us bhoys from Coatbridge! ;-)
Big Nan
22:06 on
24 February, 2014
On a completely different topic I was watching Willie Collum on TV last night and he must be the most useless article that ever refereed a game.
That penalty he gave against us when thon deid team were at Celtic Park will live in the memory forever as the worst decision against us.
It was a piece of brilliance that Hugh Dallas chose Collum, a RC RK teacher to do his worst bidding because as such the accusation of religious bias was immediately negated.
Wullie collum is in action again if not already posted in the last 16 round of Chanpions league tomorrow night in russia
WHY he is terrible http://uk.soccerway.com/matches/2014/02/25/europe/uefa-champions-league/fk-zenit-sankt-petersburg/bv-borussia-09-dortmund/1611890/
Henr1k
Deary me…looked at your links…it doesn’t fill me with any real confidence in a positive outcome. He may be educated well but couldn’t find any tax related positions unlike Mr Bishop…set up as a patsy to fail…I am guessing…
Kikinthenakas
Lord Raymie Doherty is a member of the Green Brigade and has been known to do lateral movement on the bench while singing rebel songs, holding offensive banners, setting off flares, breaking seats and constantly blessing himself………or so we’ll be led to believe by the sevconians.
ryecatcher
23:12 on
24 February, 2014
Auldheid…
Is there an agenda for this meeting?
Will minutes be taken , then freely available to access online?
=============
There will be an update published after it as there was before.
When I say after I mean after agreement is reached on the drafting of what occurred.
When I say published I mean on CQN and on Phil Mac Giolla Bhain’s blog because he has offered it for the purpose given its wide readership and probably on Facebook and mentioned on Twitter.
!!Bada Bing!!
23:21 on
24 February, 2014
2 pairs of comfortable shoes.
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:-)
So Peter Lawwell and Dermot Desmond have the power and influence to arrange for a tame Judge to take over a high profile case so that they can fix the result to suit their “old firmist” agenda.
Aye right. If they had the power to do all this then getting a solvent huns mk ii into the SPFL would have been a doddle. Pity the Norwegian blues look to be intent on fecking the whole thing up by crashing and burning just like their late and unlamented forebears.
Don’t know what to think of the judge change and the cutting of the appeal time (based on a request from MG). Two quick questions that would help to clarify the issues, answers on a postcard:
1. Did the original judge stand down for private reasons (health for example) and had to be replaced at short notice? Or was he replaced by a higher authority?
2. Did HMRC complain in any way, shape or form of the change or of the shortening of the appeal? If not why not? Having spent months preparing their case for a landmark judgement they will have had to rethink their whole approach and slice out days of their arguments.
TSFM did a podcast with Stuart Cosgrove on the impact of social media on the smsm.
Well that is what I’ve been told but TSFM is taking ages to open, a problem it had before that righted itself eventually.
However keep it in mind as I’m sure it will be interesting.
This is brilliant. It is as if Sally employs Wallace.
Asked if his preparations had been left in limbo, McCoist said: “I think that is a fair point, absolutely.
“But I understand the fact Graham has asked for 120 days and I think we should certainly give him that.”
If I was Wallace I’d boot him up the arse. Show him who is boss.
It is also brilliant that Wallace needs 120 days to review things at the Asbestosdome.
Compare with the new Italian pm, Renzi, who will introduce election law changes, tax cuts and investment in jobs, and try to abolish the Senate as a law-making body in the next 4 months.
They are both lazy. 100 days should have been their horizon. That’s the way it used to be; The first 100 days.
Maybe it is inflation.
Shootin = Shoutin…..!!
Big Anne from the Chase???
Anyway enough of this disrespectful stuff about the parents of one of my heroes, Mr. Weller.
His dad,John,died a couple of years ago and having had the good fortune of meeting him, he was a top bloke.
Just bagged tickets to see Paul in a Staffordshire forest on 28th June….Weller in the outdoor summer sunshine……Sublime.
kikinthenakas
23:23 on 24 February, 2014
Correct mate check the differences in CV’s and the judge gets changed at last minute.
As per usual mate it stinks to help every last 1 of the cu**s
Cosgrove used to refer to us as bead counters till I wrote to his boss.
Auldheid,
Why do minutes of what happened need ‘agreeing’ to?
From BBC Al Lamont
Could be interesting at the Court of Session tomorrow if what I’m hearing is true. Possible twist to Imran Ahmad v The Rangers FC Ltd.
ryecatcher
23:32 on
24 February, 2014
Anyway enough of this disrespectful stuff about the parents of one of my heroes, Mr. Weller.
His dad,John,died a couple of years ago and having had the good fortune of meeting him, he was a top bloke.
Just bagged tickets to see Paul in a Staffordshire forest on 28th June….Weller in the outdoor summer sunshine……Sublime.
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Steve Marriott tribute act.
:-)
ACGOR
Won’t be happy
You lot dissin his burd
HH
Tom Molach
23:29 on 24 February, 2014
This is brilliant. It is as if Sally employs Wallace.
Asked if his preparations had been left in limbo, McCoist said: “I think that is a fair point, absolutely.
————
My gut feeling is that McCoist takes his direction from South Africa.That question was more than likely fed to the press before hand to undermine the honey monster.McCoist is looking to the future.
Syd Negakev
Its either a stitch up with a celtic minded judge
Or its a stitch up with a rangers minded judge
Whatever happens and whoever is presiding it really does not matter at this level all that really matters is the evidence
I believe that is were HMRC dispute the last judgment, they say important evidence was withheld
If that is true
It does not matter if the judge has asses ears he knows the rule book
Nat know……
There is a bit of Small Faces in there but far more prolific songwriter than old Stevie Boy ever was.