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.
[calameo code=0003901710a55b5798f06 lang=en page=1 hidelinks=1 width=100% height=500]
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Nite all…
Early rise in the morning.
Wake up Grumpy but still a Tim.
Hail Hail
ryecatcher
00:26 on
25 February, 2014
Nat know…..
If that was the case then I would also keep Hull University hidden too lol
———————————————————–
That’s the bit he has published!
It’s all the Tim related stuff that’s missing. :-)
From Edgar Blamm
Matt Lindsay Evening Times
Ally McCoist has welcomed news that Imran Ahmad is generously seeking to safeguard some of Rangers’ transfer warchest. #EverythingIsFine
ryecatcher
23:36 on
24 February, 2014
Auldheid,
Why do minutes of what happened need ‘agreeing’ to?
==========================
They need agreeing that they represent the discussion and use the correct words to reflect what was said.
They are not a verbatim record of what was said.
Mark Hately says Imran’s sequestration is like a new sequestration.
NatKnow – Supporting Wee Oscar 00:02
But then I guess Donald Finlay is well-educated, proving that education doesn’t mitigate bigotry.
Aye
Education is a vehicle but you still drive the car
For bigots educated or not nothing changes they still hate uptown and downtown
Thindimebhoy
00:32 on
25 February, 2014
NatKnow – Supporting Wee Oscar 00:02
But then I guess Donald Finlay is well-educated, proving that education doesn’t mitigate bigotry.
Aye
Education is a vehicle but you still drive the car
For bigots educated or not nothing changes they still hate uptown and downtown
—————————————————————
A nice nice aphorism which I will try to retain…
Three quarters through the Cosgrove TSFM podcast and apart from him sussing my modus operandi out it is well worth a listen.
Auldheid
00:29 on
I apologise I’ve not had an opportunity to read mins of open meeting but what was discussed re compensation for those aquitted re OB act?
Kilbowie Kelt will vote YES 25
Cosgrove was an ALTAR BOY.
So…..?
Auldheid
@Auldheid · 11s
” Is our national association in good hands?” S Cosgrove TSFM podcast
So let me get this right
You can
Fool some of the people all of the time
And you can
Fool all of the people some of the time
And you can
Fool all of the peepil all of the time
And here is a picture of a kitten
———————- Insert Kitten Picture Here
———————-
Just picked this up from earlier and laughed!
:-)
Right defo aff tae bed noo….
Just one more from lurking on HunMedia……even better than a double ended sword this one…..
‘Will Ally be the sacarificial (sic) cow for the board when it comes to season ticket renewals?’
Just how bad are their schools?……seriously
auldheid
00:46 on 25 February, 2014
Auldheid
@Auldheid · 11s
” Is our national association in good hands?” S Cosgrove TSFM podcast
No disrespect to Mr Cosgrove, but the internet bampots and fundamentalists have a much better understanding of the issues than any journalist or commentator. As far as I can see.
eddieinkirkmichael
00:38 on
25 February, 2014
Auldheid
00:29 on
I apologise I’ve not had an opportunity to read mins of open meeting but what was discussed re compensation for those aquitted re OB act?
==========================
Not sure which meeting you mean but the last one on 5th Feb chaired by CST are here.
http://www.celtictrust.net/?func=d_home_article&id=469
NatKnow – Supporting Wee Oscar
00:50 on
25 February, 2014
I would exclude Cosgrove from that but listen to what is in the bottle,. do not let the label “Cosgrove” put you off.
Wee tip…..
Never ever get drawn into a conversation with a Scottish Hun in England.Particularly if any English people are listening into the conversation.It gets embarrassing and you almost want to apologise for them.
I’m no Carol Vorderman but let me try the math out:
£1.5m crisis loan
£750k ring fenced for Ahmed
£750k for wages due
= ?
Rocket man….
You don’t read back either?
Sum already added on last page and equals 1.690 million on a fag packet in a Hun school.
Nite all.
Hail Hail
Kojo
Even took His Parker Gold Pen..
Oh no, anything but the Parker pen, Whatever next >}
HH
ryecatcher
Thanks for the tip
Mind you they are awfy quiet
TET
I think I saw ACGR is down your way in April. Is he at the Costa del Sol too?
Auldheid
I would doubt it, he would be an hour and a half drive away from where I am, in the opposite direction to where you are, so that would be about 4 hours at least to you.
He is over for a while in the summer, maybes we could arrange a meet.
When are you back ?
HH
Goodnight ghuys
Always a pleasure
HH
Apparently Lord Doherty is an expert on the Value of Rating, tried looking it up to no avail, anyone help in my quest ?
I reckon he is in there as a patsy, but am having probs with judicial types on another site in convincing them.
Any help would be much appreciated.
HH
Just before I go to the pit in the cave.
The new site is up and running.
crystalsandcollars.co.uk
much improved, no jewellery, which will be on another site.
HH
With aw this talk aboot yon wee stoater annabel goldie, ah wis quite happy that nobody had mentioned ann hegerty fae the chase. tho it turns oot ma bonnie brainy bombshell has caught the eye of jude2005.
ahseenher1st csc
RYECATCHER
Re HMRC putting your assessment in the hands of a debt collection agency,it may be worth reading CAPTAIN RANTY on the subject.
Seems they did the same to him,and he has proven that they have no right to do so.
RYECATCHER
You can access that from this.
PLEASE BE ADVISED THAT THE LANGUAGE IS A BIT STRONG!
http://captainranty.com/hmrc-and-that-statement/
Robbing Billy to pay Laxey
Not to worry.
The huns sleep like babies these days.
They wake up every hour and cry.
So the deid who urny deid go into administration before May and are deducted 25 points and still win their league and are promoted. Then what?
“Keep your eye on the sale and leaseback plan, although not until September.”
…..over on TSFM, a great post by “justhatered” that supports Paul67 statement:
“As a kid I used to play monopoly with my brothers. Most times I would win but this was down to the sheer luck of the dice more than my entrepreneurial skill.
One game in particular still stands out to this day. I only had the yellow coloured properties, with a few houses on each, while my brother had the rest of the board with hotels on everything. With each roll of the dice I nipped from ‘Chance’ to Community Chest’ to the Electricity and Water Works while my brother regularly land on my properties twice each time he passed. Soon my brother was downsizing from hotels to houses and then I went to Jail for three goes. By the time I came out I had the whole of one side of the board and he was now landing on my properties three or four times every time he passed.
Soon I owned two sides of the board and my brother had no houses left while I was loading hotels onto every property. It was only a matter of time.
My brother eventually capitulated.
The reason I mention my not so misspent youth is because this is what I believe is now happening in Govan. There is no money left. They have gone to the city who didn’t want to know. They cannot borrow money against Ibrox or Murray Park (still not renamed) while Craig Whyte is hovering in the background. They are now paying 30% on £1M for six months secured against Edmiston House and the Albion Car Park. When September comes this will coincide with the season ticket money running out. If at that point Craig Whyte is still on the scene then who will lend money to ‘The Rangers’?
Laxey’s will take the two properties and dispose of them as they wish after all that is what Hedge Funds do.
If Craig Whyte is not on the scene by this time then it is a certainty that there will be a sale and lease back of Ibrox and Murray Park. There was a document which did the rounds about sixteen months ago that detailed this scenario and from this document ‘The Rangers’ actually only got about £8.5M. Without serious cost cutting this will still not take them through to next seasons end. So there will be no property left and nothing left to sell. This is when ‘the real Rangers men’ will have to step up to the plate or the club will fold. But make no mistake about it by this time there will be nothing left except a large monthly shortfall for the new owners to make up.
This is just like a game of Monopoly where the destitute business starts chipping away at its assets to keep afloat as money bleeds away. Come September this will turn into a torrent with no way back. It is eating itself from the inside with no option but to carry on. With the exception of Administration it cannot break the contracts with players or do anything about its catering or commercial contracts. Indeed with each Administration revenue from these streams will become worse as the risk to the reputation of any sponsor becomes greater.
Downsizing on a massive scale is the only option however the fans will not tolerate this and refuse to buy season tickets which in turn means even deeper cuts.
This is the future for ‘The Rangers’.
The next few months will not be pretty. The SFA will grant a licence for next year in the full knowledge that they will not see out the season but they no longer have any option. They have nailed their colours to the mast and can go no other way. Ditto the MSM.
When the true reality dawns there will be serious trouble from the faithful just about the time of the Independence referendum.
Mmmmmmmmmmmmmm now that would indeed be a strange coincidence and even stranger timing.”
oops!, correction, post by “justshatered”
eddieinkirkmichael
23:47 on
24 February, 2014
Alasdair Lamont @BBCAlLamont 3m
Lawyers for Rangers’ former commercial director Imran Ahmad will on Tuesday ask a judge to arrest funds of £750,000.
_____________________________________________________
Oooops.
The wee 1.5 mill.cash injection for the hun looks like being sequestered.Well, 50 percentered.
I wonder if the timing is coincidental.
________________
ok so by the time 3rd rangers appear..who owns Ibrox?
Joost oot a walk and was thinking..
What will the crowds be at CP when the huns
‘walk away’ fae the big tax-case ?
Will the remaining ‘happy-clappers’ see what the
‘boreds’ complicity has done and, realize
……..hooz the mugs ?
Anyway…Neil will get the team / tactics right the
night. Won’t he ?
Ach, whits the point ?
Off oot
Pharrell ‘Happy’ Williams – CSC
Isn’t that what bomber wanted to know?
Margaret –
If they go into administration and the resultant points deduction has no effect on their league position, the points deduction will be held over until the start of neext season.