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
This statue that you speak of………………… will there be some kind of ArseNIL unveiling down Govan way? :-)
Extreme pizza delivery.
http://wimp.com/extremedelivery/
FFin’ tax lawyers:
“Upper Tier Tax Tribunal Today
No new evidence, this wont go anywhere”
——
“I was under the impression the original verdict cannot be overturned. Is it not the case HMRC are appealing a point of law rather than the verdict?”
——
“Correct……”
——
“If this is the case, what purpose does the appeal process serve? Does it simply set precedent for future cases or is it something else?
If we genuinely can’t be pursued again, given the original verdict remains in place, what do HMRC get from appealing?”
——
“i think we were a testbed case”
ryecatcher
I am not sure I posted the link having researched a little of thier work and who they were having come across it from a source I trust.
Legend has it……..
that a forbidden section of the Kama Sutra
has a “passage”
that refers to the “Laxey- Easedale Manoeuvre”
…….apparently an eye-watering feat entered into by two irresistible individuals culminating in a spectacular
finale.
Ok,ok, i won’t let my daughter read the blog tonight!
Oh dear there it is………the statue
https://www.google.co.uk/search?q=statue+bending+over&client=safari&hl=en-gb&tbm=isch&tbo=u&source=univ&sa=X&ei=3VQLU9GbN-LE7AadtoHYCQ&ved=0CDoQ7Ak&biw=1024&bih=672#facrc=_&imgrc=xtBfl856uwPtPM%253A%3B1RPkYbn4pP0tdM%3Bhttp%253A%252F%252Fpalousetoport.files.wordpress.com%252F2011%252F04%252Fnetherlands-004-boy-bending-over-statue-in-sittard.jpg%3Bhttp%253A%252F%252Fpalousetoport.wordpress.com%252F2011%252F04%252F09%252Fnetherlands-and-day-trips-april-4-8%252F%3B3000%3B4000
‘A testbed case?!’
A basket case more like.
HH!!
What happens in Poundland stays in Poundland.
A double ended sword is known as a batleth on the planet kronos
klingoncsc
Hebcelt.
I received a mail from you through a third party,but there was no e-mail address to reply too,can you mail me with your addy.
BOHICA FC or WONGA FC ?
Both work for me.
Auldheid
13:52 on 24 February, 2014
Shhhhhhhhhhhhhhhhhh,just let them carry on.:))))
Serious(Well not really:)) ) question to all.
How many days in the last 3years have you not smiled at least once about thems predicament ?
Afternoon Timland from a damp hun free mountain valley.
I noticed a few posters saying they will dump the high earners at some point in the future.
I am intrigued as to how they will manage to do this without entering admin.
The players will sit tight, there are very few mugs out there that will pay them what sevco are paying them.
Sevco can’t afford to offload them, catch 22 me thinks.
HH
Ben Doon & Phil McCrackin
Ha! Ha!
Hail! Hail!
Ominously for Minty and Co.,the judge in the UTT is a certain Mr.Colin Bishopp.The same guy who got stuck intae that nobhead Chris Moyles,last week,over his tax evasion.
Could there be a mass outbreak of Bashing the Bishopp in Larkhall and Kilwinning soon?
THE EXILED TIM
Contracts are due to expire on the high earners like Black & Sheils.
LB
Livibhoy….
Think they expire in 2015?
TheOriginalSadiesBhoy
13:44 on
24 February, 2014
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.”
===
Err wiz it no Wee Napoleon who said that??
Although apparently he actually said
“let us wait twenty minutes; when the enemy is making a false movement we must take good care not to interrupt him.”
Pedant CSC
Well
There we have it
I expect no. Administration
The cheating complete
The are considered by most people
Outside Scotland as the same thing
What about a statue to Jimmy Bellend outside Snake Mountain?
Resplendent in apron and banging a big drum?
HH!!
Tallybhoy…..
Jimmy Bellend bending over for Dougie Bellend while Cammy Bellend watches.
“Whatever happened to the Superbus insurance money….?”
John O Neil @7.46
I thought briefly about responding to the points you raised but, as I went through them, I realised that they had all been addressed in my original post. I had said all I want to say on the subject and your inability to understand the impact of the word “or” on a sentence’s meaning is beyond me.
Of all the things I wrote in my original post in reply to the critics, the important point for you to note was point 4. Your raising of, and greater fascination with, the issue of paedophilia, had absolutely nothing, zilch, nada, square root of sod all, to do with the points I addressed and the subject matter under discussion.
I will leave you to your obsession and I will rejoice along with you, if any perpetrators or supporters are brought to book, when that happens.
I am going to say nothing further on the Childrens Bill either as it too is a less than fascinating subject.
Back to the football now.
Sheik yerbouti…..
Correct…everyone in England,through mainly lack of interest,sees them as Sameclub.
That’s why a guilty verdict in the UTT is critical to expose the cheating bassas to a wider audience.
Great article Paul67!
Particularly enjoyed the Goodfellas reference!
What a Champion day!
**Breaking news**
Arsene Wenger being lined up to unveil the new Ibrox statue.
HH!!
Many years ago, a railway line ran across the back of the Jock Stein Stand. Does anyone know where it ran to and from?
Tallybhoy…
Arsene Weiner?
Pauls article immediately brought to mind a famous movie scene,I cant do links but if you youtube-
“Goodfellas Restaurant Scene”
You’ll understand.
No comment required.
http://twitter.com/TheMcLane/status/437883015965212672/photo/1
The mystery of Rangers New Bus is solved:
http://huncargo.hu/en/
Of course the statue to which paul refers will be of sally picking up ‘the windfall’
Lennon n Mc….Mjallby
“And then finally, when there’s nothing left, when you can’t borrow another buck from the bank or buy another case of booze, you bust the joint out. You light a match.”
:-)
P67
They should commission a brass statue of a Newco season ticket holder, touching his toes, with the motto ‘Brace yourself’ below.”
OR
To put it another way – BOHICA !
anyone expecting hmrc appeal verdict will be seriously disappointed at its result, it has been sorted in their favour like everything else mark my words
Lennon n Mc….Mjallby
14:48 on
http://www.youtube.com/watch?v=ZPtjyqgZAUk
Lets enjoy the laughs while we can. I think that nothing out with Craigy Bhoy waving the title deeds outside Ipox and declaring he is selling the lot to Tesco will stop the inexorable Zombie resurrection. They will come out of Admin 2 with no tangible debts, history safely transferred to “The The The Rangers” if required. They then sign players who can compete with the rest of the SPFL, excluding us, which wouldn’t be too difficult, rake in the cash from a full uptake of SB, TV money, UEFA ties etc. I can actually see them being our main challenge within 4 seasons. Remember the closer we get to equaling their title haul the more rabid they will become every means ’fair or foul’ will be employed to stop Timmy surpassing their glorious total. And you know what we all know this will come to pass.