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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Paul67…..
Bang on the money…..Great article and post.
I have to deal with hedge fund guys at least a couple of times a month to back up any trading I need to do in the course of work.These guys do not mess around when it’s time for the piper to be paid.
A closing date is a closing date and to rollover is obscenely expensive,when taking a position with a hedge fund.
Sevco are now well and truly fecked.
They have taken a position until September with this ‘loan’……..madness!!
As ever Newco Rangers reveal yet another part of their cunning business plan (smile) to keep going for another few months before yet another change of directors/new rich shareholders but no new money until season book sales from die-hard supporters who refuse to believe their new club is going down the pan
!!Bada Bing!!
Magic.
LB
Whoops, he may have conciseness, but he has no conscience.
Paul67
Puts a whole new perspective on Brass Rubbing.
Malorbhoy you,ve got mail. Hail Hail Hebcelt
asonofdan
13:27 on 24 February, 2014
We should just leave them alone now. There is at least another 6 months of hilarity in this. Sevco are staggering around like a heifer with mad cow disease.
……………………………………
There’s something in what you say. Remember, Paul and Churchill’s words of wisdom, “Never interrupt your enemy when they are making a mistake.”
Bada
And as Gordon Dalziel says, as long as they keep the nuclear of the squad.
Googy……….
Brass farthing springs to mind as well………………
;)
DeniaBhoy
Looking at their costs as resported previously. I would imagine £1.5m will see Sevco through around 2 months. That will take them to the end of April. They have a few home matches and the TV cash from probably 2 live Scottish Cup matches. That will generate some funds too. They also have a cup final to contest.
They will limp to the end of the season and the season tickets will be available I would predict in early May or late April with a buy now same price applies for next season to encourage people to part with the full amount to get the monies in.
They will go into overdrive on the season ticket front in May and bring new players in probably from Hertz. Then in late August they will dump the high earners. Can’t see them making it to Halloween. They will never learn!
LB
Paul
Is it possible that Sevco fans could take their case to court under the European Convention on Human Rights article III, Cruel and Unusual Punishment? I would seek legal advice in case you are cited as a hostile witness…….
DeniaBhoy
13:39 on
24 February, 2014
Look for a slightly earlier than usual ST announcement. £1.5M covers around 2 months losses, so I expect them to want season ticket money to start coming in by end April.
Paul.
Fantastic header, laced with the appropriate dose of satire.
The Zombie nation will never learn no matter how often it is spelt out to them.
Paul67
Yellow card…….the mental image of the bent over sevconian has made me
a tad queasy:0(
.
Has Anyone on here Ever Met a Celtic Fan who has told them that Rangers were Going Bust and were Not Smiling as if they Were the only Ones Who Knew..
Summa
Paul,
I believe there is an acronym to cover the situation in your article.
BOHICA
Bend Over Here It Comes Again
HH
medtim
If I was a zombie(thank f@#$ I’m not) I would think twice about buying a ST because clearly the money raised for next season won’t last a season, they’re in big trouble and only the dummies will not notice it and buy others with half a brain might think not this time HH
That Wallace guy is like a
fresh of breath air………………………
;)
RIFC’s approach to business planning reminds me of a scene from Von Ryan’s Express where the train grinds to a halt because of a break in the railway track.
The problem is solved by taking the rails from behind the train and using them to repair the track in front of the train.
The problem with Von Sally’s Express is that on its travels it has warped the rails behind it to such an extent that they are worthless for repairing the track in front.
So faced with this dilema Von Sally sends his troops ahead two miles to fetch a mile of rails from there to put in front of the train to bridge the gap.
That slows there onward journey but keeps the train (no longer an express) on track until it reaches the gap created by the previous bridging attempt when the exercise is repeated.
If they take steps to stop the warping on the track they travel over by shedding weight (and who would bet against that being Von Sally himself) then they might reach a point where only one more bridging operation is needed using the rails ahead and then its an unbroken journey.
However as matters stand Von Sally’train is hardly an Express and unlikely to befit such a title for a long,long time.
Dedicated from Laxey and the Hedge Find Boys……A wee tune for the Sleazdale Brothers….
Good tune it is too.
Charles Green Day haha
Wake Me Up When September Ends (lyrics) By Green Day – YouTube
► 4:39► 4:39
http://www.youtube.com/watch?v=GY6SAuu6JGY
13 Oct 2008 – Uploaded by sephixieroth
Song requested by involvement. Sorry for the late post, been busy. Anywayz, hope you like it. =] I …
Find=fund
Feckin ipad
Congrats to Fraser on his new “clean-sheet” record, and long may it continue.
Here is a picture of Fraser “The Wall” Forster.
http://imgur.com/1Gi5QvX
Feel free to Right click and “save As” or Tweet it.
HH
Paul67.
Re the statue:
We’ll be able to see if their winter of discontent is enough to freeze the balls off a brass monkey.
Pay your bills and taxe(y)s
or bend over for the Laxeys.
“Who are these people making allegations?! I demand to know who the alligators are!”
Ally McCoist.
HH!!
can we do something here
Unprecedented demand leaves foodbank shelves bare
http://www.glasgowcitymission.com/index.php?option=com_content&view=article&id=140&Itemid=63
A beautiful sunny Lower Saxony today.
Good afternoon champions,great Post Paul67,you are definitely one of my favourite Huntertainers …
and your right keep it simple ……braw …………but methinks even the simplest of advice is beyond there ken ….also braw …..and with all those wee huns bracing themselves ,it looks like we,ll be Huntertained for a guid while yet ….awfy braw …
mypoorweeribscfc
Afternoon Bhoys and Ghirls,
Interesting debate over the old London Rd school.
Cant believe some of the sentimental stuff. It was a boarded up eyesore, a relic from the past that has been lying in a state of disrepair since 2004.
As part of the East End regeneration project it had to go. Possibly some of the objections were dealt with slightly quicker due to the opening ceremony of the games but hey, c’est la vie.
From a Celtic perspective, If all our plans come to fruition then we can welcome all and sundry to a modern, practical and vibrant CP, demonstrating that we look to the future while not forgetting our past.
To us, It was a carbuncle that required removal.
Good riddance in my opinion.
HH. .
Comfort Eating
hun skelper
Zombies are unable to think!
LB
Commenting on the financial farrago “The Binman” declared, the game is not over until it is……………..
Quite.
I thought the Grimsdale “facility” was interest free, but subject to a fee.
Am I wrong again?
Mibbe I should ask wee ally.
In a perfect world we’ve have Agent White on the steps of Ibrokes today shouting.
“NOBODY EXPECTS THE SEVCO LIQUIDATION. Our chief weapon is surprise, fear and surprise; two chief weapons, fear, surprise, and ruthless inefficiency! Er, among our chief weapons are: fear, surprise, ruthless inefficiency, and near fanatical devotion to lying!”
HH
/Bishop B
Absolutely brilliant
Brian Williams and Lester Holt perform “Rapper’s Delight”.
http://wimp.com/performdelight/
The Binman thinks scoddish foo’ball could do with a kick in the arm……………….
Mark Hateley said Laxey Easdale “is like a new signing”
Newclub planning two new statues.
Ben Doon and Phil McCavity.
‘They had a dream!’
HH!!
Whitedoghunch…
Just curious and not asking a mischievous question.
Are the employees of Glasgow City Mission paid or volunteers?
Genuine question by the way.