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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LiviBhoy: ‘m sure the Irish anthem was played at Jackie McNamara’s testimonial.’
————————
Indeed it was, performed by the first lady of Celtic song(no Tony not Jeanette Findlay), Patricia Ferns!
What a great occasion that was.
HH
Apparently ole Bob Mugabe was approached for a loan at current Zimbabwean rates, but he turned Sevco down on the basis his reputation would suffer irreparaple damange through association with the Ibrox cowboys.
traditionalist88
Never knew that. Saw P Ferns for the first time many years ago and thought she was superb. I think it was the association rally.
LB
kojo
12 games remain. Remember there are 5 following the ‘split’.
Geordie Munro
“Regarding champs league, there are often dozens of games on , just none will be televised live.”
Thanks, I note that BT Sport is televising a French Ligue 1 game in competition to Tuesday’s CL fixtures on TV.
Does Platini allow French fixtures to break the TV embargo?
LiviBhoy
Yes theres youtube footage of her singing the Soldiers Song at CP pre-match I think, can’t look for the link at the moment but will dig it out later.
Shes a great chanter…’we’re at the top of the league looking, down on the rangers’ :)
HH
Parkheadcumsalford @ 16.42 hrs..
Given a choice, I too would prefer a 0-0 tomorrow night to set a new British record. Its a genuine once in a life time opportunity.
Long after this league campaign has been won records will be recited in quiz’s, books, debates etc. Nobody will remember two points in the big scheme of things but statistics remain for all time.
Personally would hate Aberdeen to burst another bubble.
HH.
SFTB-I’m sure an EPL game was live last season when CL was on,more stupid rules from UEFA.
Celtic Park – via Clyde Walkway
Reckon Bayern should have enough about them to become the first team ever to defend the Champions League title.That statistic shows just how difficult a tournament it is to win.
PSG have got to be dangerous outsiders at 10/1.
Forget the Spanish teams…..well over-rated and over the hill.
BSR….
For Clyde Walkway….read as…..Tahiti Runaway.
Frank Ryan’s Whiskey 14:55 on 24 February, 2014
Do you really think someone has sat down and worked all that out as a plan?
There are easier ways for Sevco to reach the top flight and be in a position to mount a fairly quick challenge for the title but that ship has sailed.
The people who are in charge at Ibroke don’t give a damn about challenging for titles. Their only interest is milking the toxic cow. And those are just the people we know about.
Remember, most of the Sevco shareholders don’t even know who the people pulling the strings are.
So £1 million from laxey at a premium rate
Half million from Easdale
all secured on Edminston hoos and Albion Car park
these are the same properties secured to the ‘fasteye’ consortium post suicide
In fact did old challs not say he met and got advice of david murray and was given advice etc re meeja and how not to jitter the eye,lambing etc.
So why not the big hoos as security? anything to do with a contingent liability in the accounts?re wee craigi
I am sure the sfa are all over this(*),tho i wonder have they received the assurances they requested on who is behind the newdead experience?
or did they rely on the pinsent masons report into it?
It does make me think tho that if R2 go into admin what are the implications of the ownership of Ed hoos etc,ie the security of a loan on a business in admin?
thinkin out loud fellow tims An T
*laughter pause
Sftb
Bordeaux v lorient?
Its a half five kick off is not? A bit like us v st j last season.
Pretty poor show if I’m wrong though.
Paul 67
“If you’re in the football business, rule number 1 is: Pay your bills”
I mentioned this to them when I did the sevco survey
And now they are selling the furniture to keep the lights on. By September this will become a moot point when the big hoose and trappings are sold.
I still expect our hero to have something to say about this
HH
Re: Sevco season-tickets
Were they not offering s three-year ST at some point?
If so, the money on season tickets may not be as high as some fol assume.
fol = folk
Geordie Munro
Yes.. That’s whit Ah said.
Seven Games tae Go.
Split?
Schmitt!!!
If ye want tae be Picky..
Well, Ah canny stoap ye..
Be Picky,,
Kojo
Stil Laughin’
Rye
I wouldn’t discount Real, they are coming on to a game, Anchelotti has them playing some decent stuff, esp in europe.
PSG for me look the best bet bar Bayern, followed by Chelsea.
HH
traditionalist88
16:51 on 24 February, 2014
LiviBhoy: ‘m sure the Irish anthem was played at Jackie McNamara’s testimonial.’
————————
Indeed it was, performed by the first lady of Celtic song(no Tony not Jeanette Findlay), Patricia Ferns!
What a great occasion that was.
HH
___________________________________
I know Patricia well, nice wee Garngad lassie.
….this just out from Dark Mingwall about the loan….
Fan groups statement regarding loans from Easdale and Laxey
Rangers Supporters Association, Assembly & Trust Statement
The Rangers Supporters Association, Assembly and Trust have been contacted by a number of Rangers supporters, who are also current shareholders, indicating they would have provided a secured loan of £1.5m on more favourable terms than the combined Laxey Partners/ Easdale loans. The terms of the Laxey loan in particular seem unduly onerous.
We are concerned that not all shareholders are being treated equally. Fans and shareholders both deserve an explanation as to why other shareholders were not approached to provide this loan.
The 3 groups call on Rangers, or the NOMAD Daniel Stewart, to clarify the matter. Either in public or through a direct meeting with fan representatives. We have contacted both companies with our concerns.
Pretty sure a couple of seasons ago we were made to kick off at 6pm away to St Johnstone because it was on the night of CL games. Think that was the game that the GB kicked footballs into the ground from the car park to highlight ridiculous kick off times.
However, last season I think an EPL was screened live on a CL night.
Can’t believe that Beyoncé was only 5 miles away from me the other night could almost smell her beautiful, luscious hair in Rutherglen.
Albums
Yes Yes Album
Bridie Gallagher songs of donegal/The girl from donegal
Who Who’s Next
Sex Pistols Anarchy in the UK
Underworld Dubnobasswithmyheadman.
In no particular order
ryecatcher
The young Tahiti knew all roads in and out of Carmyle with militaristic precision, on
hand.
Tet,
I normally wouldn’t watch Real if they were playing doon my local park but this season/ year they are playing some good stuff.
I wouldn’t rule most teams out….well apart from that German mob that got pumped.
Geordie Munro @ 17:05 o
Sftb
Bordeaux v lorient? Its a half five kick off is not?
Yes but it clashes with Zenit St Petersburg v Borussia Dortmund in CL KO 17:00 on Sky Sports 1. Don’t know why this is allowed ?
Hmmmmmm…
Thinking an EGM is on the cards at Greyskull.
Will make December’s AGM look like a coffee morning in Byres Road.
ryecatcher
if you need the lowdown on Tahiti I’ll take off the Gibraltar hat.Spent some time there in search of
http://www.google.com/imgres?client=firefox-a&hs=iSL&sa=X&rls=org.mozilla%3Aen-US%3Aofficial&channel=np&biw=1366&bih=638&tbm=isch&tbnid=wQly-18_WFq1lM%3A&imgrefurl=http%3A%2F%2Fwww.royal-painting.com%2Fhtmllarge%2Flarge-3986.html&docid=GHEAAljPJ0Vm-M&imgurl=http%3A%2F%2Fwww.royal-painting.com%2Flargeimg%2FGauguin%2C%252520Paul%2F23986-Gauguin%2C%252520Paul.jpg&w=544&h=700&ei=SX4LU_HqKNOS7AbLoIHoBg&zoom=1&ved=0CGAQhBwwBA&iact=rc&dur=2430&page=1&start=0&ndsp=20
bournesouprecipe
17:15 on 24 February, 2014
Can’t believe that Beyoncé was only 5 miles away from me the other night could almost smell her beautiful, luscious hair in Rutherglen._______
Try a cold shower, deary meeeeeeee.
Rioskorrie 17:12 on 24 February, 2014
….this just out from Dark Mingwall about the loan….
Fan groups statement regarding loans from Easdale and Laxey
Rangers Supporters Association, Assembly & Trust Statement
The Rangers Supporters Association, Assembly and Trust have been contacted by a number of Rangers supporters, who are also current shareholders, indicating they would have provided a secured loan of £1.5m on more favourable terms than the combined Laxey Partners/ Easdale loans. The terms of the Laxey loan in particular seem unduly onerous.
We are concerned that not all shareholders are being treated equally. Fans and shareholders both deserve an explanation as to why other shareholders were not approached to provide this loan.
The 3 groups call on Rangers, or the NOMAD Daniel Stewart, to clarify the matter. Either in public or through a direct meeting with fan representatives. We have contacted both companies with our concerns.
————
Sevco should tell Divine they’ll consider clarifying the matter when he starts attending games.
Embra Mike, hmmmm. Bad crack that.
Bsr, she probably could smell yours too ;)
I hope Bernard Ponsonby sets about David Cameron the way he did to John Smeaton.
STV Tims CSC
SRS…..
Coffee well and truly spluttered on iPad screen.Brilliant…genuine laugh out loud!!
Divine….forgot all about him/her/it.
YouthinkyouramanbutyouronlyaboyCSC
Great leader Paul. This accelerated spend at RIFC will lead to their goal of another Admin and a Spiv pay off,
What I don’t understand is McCoist’s position, he was wealthy before taking over and will make at least a couple of Million from this farce. However when the sh*t hits the fan he will surely never be able to show his face in Scotland again when his role in it becomes apparent to the hordes. He must think it’s a price worth paying.
Good riddance.
Association , assembly. And trust going at the muscle games wi the Easdale boys, this should be fun, bet Dave King gets a menshy.
quonno
14:48 on
24 February, 2014
Many years ago, a railway line ran across the back of the Jock Stein Stand. Does anyone know where it ran to and from?
I checked online and if you search National Library of Scotland maps,I found old maps clearly showing a goods line running from Sighthill Goods Station east thyen south down over London Road where it passed London Road Station which had five lines halts there.The goods line and five halts merge and run down to Dalmarnock Ironworks through Bridgeton Station then merges east and west with a C
have a good night Celts
HH