You’ll remember in October last year I told you I was in receipt of a Heads of Terms for the sale and leaseback of Ibrox, Murray Park and the Albion Car Park. The internet has been full of chatter around this subject for the last week but I didn’t have an update on the subject until last night.
At the time I said the deal would not be signed until after the share issue, which took place in December. Charlie is back in town, and I hear the Sale and Leaseback-ball is in play.
According to the Heads’ the buyer will pay £7.285m for all three properties and, in addition, will provide a loan to the tenant of £6.9m at an interest rate of 15% p.a.
Rent will be reviewed every five years, on an upwards only basis, either at RPI or 2% p.a., whichever is greater. RPI is currently 3.3%
Say Goodbye to Murray Park
The tenant “will take a lease for the stadium and the car park on a 20 year lease at an initial rent of £1.8, per annum”. Murray Park is offski, gone, no longer available to Rangers International, or any of its successor clubs.
Interest on the loan works out at £985.5k per annum, so rent plus interest would be £2.835m p.a.
Top line figure for both sale and loan is £13.835m, however, the first three years rent (£5.4m) will be held back as no one is prepared to guarantee the rent, so actual cash into the business will be £8.435m.
Murray Park planning permission
If the new owner of the properties attains planning permission for residential properties at Murray Park within three years of the deal being signed, a provision releases the seller from having to repay the outstanding portion of the loan. If planning permission is achieved after three years, no element of the loan is forgiven.
Potatoes
The buyer can do whatever they like with Murray Park. Can you suggest a suitable use? Perhaps they’ll plant potatoes.
Securitisation
“Rents will be guaranteed from ticket receipts and a first charge on the season tickets income will be granted.”
The tenant has the option to buy-back the stadium (only). If the stadium is bought-back in year one the cost will be £10m. Thereafter the purchase price will increase by 12% p.a. until year 10. After year 10 the right to buy-back the stadium will be at “Market Value but no less than £20m”.
Should they buy-back the stadium, the lease will remain in place for Albion Car Park at a rate of £250k p.a. (subject to same rent review arrangements).
So what does this mean? The cash will be welcome and will enable to club to survive until into next season. If they spend the money on lottery tickets, there’s a chance they will get lucky and survive well into the season after next.
Suggestions that some people are preparing to squeeze the last penny out of a busted brand are contemptuous.
The next issue of CQN Magazine is being prepared. Let me know if you would like to advertise, or if you would like to submit an article, celticquicknews@gmail.com.
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#TeamOscar
Tom McLaughlin 01:54 on 16 August, 2013
See this is what I don’t like. It’s as if people do not have a choice. It’s all support me or be damned,
………………………
What utter shite your statement above says Tom. In all the time canamalar has run this motion for support I’ve yet to see him allude to “support me or be damned”.
He asked for support, got some, in my opinion nowhere near what I’d have expected given the level of board bitching on the blog.
I don’t see anyone damning anyone. Do you work in amateur dramatics Tom? You could be the wizard of Oz.
I’ll be honest canamalar.
I don’t support it, in the sense that I am not a shareholder and therefore am unable to anyway.
I am not against it either. I do admire your resolve and determination, but like a lot of people, I suspect your motives. You are very much anti-board and always have been on CQN. That is your prerogative. I have no problem with that. But you surely cannot deny that some people have this perception when it comes to your motives.
As I said, I am not against it. I would say I am apathetic to it. That would be more accurate. I very rarely comment on it, other than above when I was questioning an attack on people’s right to ignore it or be apathetic.
Not an attack by you I might add.
canamalar –
I have re-read your post and accept you were not having a go at Paul for not supporting you.
I misread it.
I apologise.
Now don’t go all FFM on me because I apologised :-)
twists n turns 07:18
Not many people have did more for CQN than Maggie (P67 can correct me if I’m wrong)
My thoughts on why Maggie Mcgill quit/was banned:
I think he had an epiphany. Too many so-called smart Celtic supporters actually long for games against the Huns and that the board are working towards that. That is unacceptable to him and what he believes being a true Celtic supporters should want.
I think he thought CQN was a medium to ensure that would never happen but realised it is the un-official Celtic view.
Vmhan @ 07:25
Doubt it and if so, only until we play ‘a Rangers’ again, and you can be assured that is coming.
Nor do I foresee any apology.
The Boy Jinky @ 12:44
I’d do something similar but DD is not a Celtic fan.
It doesn’t suit his business model for ‘Rangers’ to go bust.
If there is no route out of Scottish football. The bigot dollar is the cash cow.
There is no route oit of Scottish football.
tonydonnelly67
19:42
Have we fecked off the GB YET?
Are you a moisture and heat seeking venomous throbbing python of love?
hen1rik
Hail! Hail!
canamalar1 @ 22:34
Can’t you just be blindly faithful through and through?
canamalar1 @ 22:43
Can’t you just turn round and bend over quietly?
starry plough @ 22:45
He doesn’t gamble. Look at the investments in the team this season for example.
He either knows with a ‘Rangers’ and he can cash in on the bigot pound or he knows we are off to the EPL.
Place your bets.
….PFayr @ 22:57
Good to know you see it too.
canamalar1 @ 23:02
If people are too small-minded to give support because they see it as support a person. We are doomed. They are doomed.
As we discussed privately some time ago. It doesn’t matter who stands up at the AGM. As long as ‘a’ supporter does it.
The biggest issue against the success of the Celtic support is apathy. It’s contagious. Don’t catch it.
weeminger @ 23:07
We are the the biggest support in the market. In every business in the world. The customer dictates the market.
HF
Steinreignedsupreme @ 23:13
They are not finished as long as long we continue to bend over (in silence) to them and I see no major change there.
Kilbowie Kelt @ 23:21 on
15 August, 2013
Canamalar 23.02,
Sorry to hear that. Let’s hope that some are just holding back thinking that others will put their heads above the parapet. If so, it’s time they got off the fence & pledged their support. It is time for them to speak now or forever hold their peace.
Successful or not, you have made a very valiant effort while others only talk about seeking answers.
You cannot do any more than you already have done.
I have never hidden the fact that I don’t share your concerns, but I am happy to back you & I hope you get the support you need to have your questions answered.
Good Luck.
I agree: http://thecelticnetwork.com/2013/07/29/resolution-for-agm/
Steinreignedsupreme @ 23:57
Oh yes they did. They wont be on the naughty step for very long unless the Scottish supporters of other teams end it. Too many can’t wait until a New firm fixture.
canamalar1 @ 01:58
There is none so blind as those who wont see,
MaggieMcGillCSC
Right! Next time I will re-read before posting. Make the corrections in your head. ;)
What’s happened to Maggie McGill?
Tom McLaughlin, six months ago I thought I’d be the last person to support anything canamalar put forward. We’d had our differences in the past, and they were rich and varied, and considerable, and personal, but gradually offline we sorted these out.
As you say, distrust of his earlier blog persona may have hindered his support but it does not in any way invalidate the action he has attempted to pursue on this Celtic minded blog.
I hoped that the blog, like me would have recognised Canamalars singular focus in politely asking some probing questions, the blog would have done so without prejudice.
Hail Hail Brother Tom
I’ve just read this page.
God is Amazing, absolutely Incredible.
I’m talking the God of the Bible, not the adversary that gets lots of people involved with things they shouldn’t – the Gnostic god revered in All SS.
Hey, if you have a problem, don’t go to a Minister or a Priest, give God a direct call, get personal. It is Funky, Cool, and you will feel like you are sipping something that is not a Medina.
ole FFM produced this to me, despite losing people that he Loves dearly.
Tom,
You never thanked me for accepting your apology. Once you do that I’ll proffer forgiveness :))
ACGR/ canamalar,
Keep up the good fight brothers. Am not a shareholder. Would buy in now if it was maximum 2% stake per moneyman and no secret handshake fetishists.
Rite, back to sleep for me. Was in REM state dreaming we were 3-1 up against Juve in CL Final 2015 with some Croatian mib called Gollumivic refereeing when GCT yelled my name.
Canalamar maybe an erse but that doesn’t mean he’s not right…..
Kikinthenakas
Morrissey the 23rd , Maggie is my darling:-)
After last nights protestant **** up your **** post, I think Maggie needs to do the jump with you and get a bit of perspective.
BTW, I’ll double sponser if you can do that and the additional sponsorship goes to the wee Oscar fund.
You know it makes sense. Maggie always loved a strap-on, He just never thought it would be you on a death plunge:-)
Make it so.
Tom…,
I have not always been anti board, I used to have roaring arguments with sydneytim supporting the board, over the past few years my opinion has changed.
But you confirm my suspicions that it is down to personality, you also raise the concern that even if I do step aside it would make no difference since it was my idea it must be anti board irrespective of the actual content and point of the resolution, like thomthetim you have a problem with me you can’t see past, to the extent you refuse to even read the resolution, there is nothing anti board in the resolution I am simply asking the board to support a request for the european financial control body to investigate the SFA’s governance in issuing license to play in their competition, to a club who failed to qualify to receive a license. A decision that cost my club financially.
But you have made yourself clear so no good banging my head against a brick wall, your opinion is yours to keep, enjoy.
HH Pedro me auld pal.
Morrisey, great posts, and some interesting ones too.
Respect to Mags, haste ye back! Nite all.
Thoughts with Oscar and family-and Miki.
kikinthenakas, ha ha, you said in one line what I’ve tried to say in several paragraphs.
Do you want to write my memoirs?
Just read the latest devastating stuff from Wee Oscar.
I’m just happy that the wee fella has experience of the battle in front of him.
“We’ve done it before,and we’ll do it again”
A line from a favourite song sung at Celtic Park back in the day.
Not a bad wee motto for Oscar,either.
Tom..,
Apology accepted, thank you.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS 02:36 on 16 August, 2013
“We’ve done it before, and we’ll do it again.
……………………………………………………………….
Yes, we will Bob.
Because we care and We Are Celtic. One Family.
Canamalar is no erse.
If such a reputation exists, then mibbes it was created by the ten to the penny board apologists that are ruining this site.
And I defended the board on these pages as well long enough.
Something stinks imo, but such discussions shouldn’t be used to distract from the resolution he is putting forward as a shareholder regarding the issue of the SFA, which is relevant to every Celtic supporter, and the future of the club. Some attacks on what he’s trying to do were predictable.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
02:36 on 16 August, 2013
Just read the latest devastating stuff from Wee Oscar.
I’m just happy that the wee fella has experience of the battle in front of him.
“We’ve done it before,and we’ll do it again”
A line from a favourite song sung at Celtic Park back in the day.
Not a bad wee motto for Oscar,either.
____________________
info?, not read.
I can guess, I’d like Oscar to rebuild his immune system.
Go to Peru and China, and even NI.
Keep taking Camu Camu, Goji Berries and even Flax Seeds.
Work out the amounts for a wee kid and Let us REALLY build up the Wee Mans Immune System again, all that treatment has made Oscar susceptible.
Those three items have done wonders for me. Read up about them.
Oi FFM
I’ll have you know I come from a long line of Erse
:o)
:)))
Ersewhile…
See, I knew you’d find summit to pick at in my post. Pedantic socialist mine shafting genius ye! :))
Or simply, …grumpy old man….:)
I also have defended the board on many occasions-credit where it’s due,in my opinion.
But with credit comes brickbats.
I don’t believe in taking entrenched views,where everything is black or white.
This is,I feel,where the whole happyclapper/mineshafter scenario falls to pieces.
Nobody should ever be 100% for or against an organisation,just as a knee-jerk reaction.
A bit of consideration as to whether the correct course is being followed re a particular policy should be the default,
NOT
ya boo sucks,you would say that.
I’d need to get a bus to genius but I’ll take the rest :o)
And to be honest I don’t like being a mineshafter, sometimes stop typing because it just depresses me, then 67heaven posts and everything is ok again :oD))))
PETEC
I think Oscar will be using every available option to build up his immune system.
Dunno about flax seeds though.
IIRC,they are poisonous!
Time for bawbaws before the sun comes up, that’s prayer time started for Islam
http://m.youtube.com/watch?v=ESy-Z8vqMrE&desktop_uri=%2Fwatch%3Fv%3DESy-Z8vqMrE
CANAMALR
Shout down to them to remember Oscar in their prayers.
Five times a day,you never know!
Imagine Celtic got knocked oot by Shakhter?
kevj.csc
:))
upperbruvvahood in da hood.
The spooky way Bill Salus is reading the Book of Isaiah is scarily prophetic with what just transpired in Egypt.
J titoR timestamps.csc
BMCUW,
It’s the same god the one Abraham was talking to, that Abraham eh, he’s got a lot to answer for the three biggest religions and the three biggest hypocrites, sad sad sad.
Hail Hail
God bless we Oscar and give his family strength.
67 Heaven, lovely fella, if a tad facetious and annoying, had his front teeth fitted with a brace to hold golf tees to prove his servitude to the great god dermot, who tees off standing on 67’s belly to improve vertical projection. He has nerves of steel and posts on cqn while golf clubs are whizzing by his nostrils.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
03:03 on 16 August, 2013
PETEC
I think Oscar will be using every available option to build up his immune system.
Dunno about flax seeds though.
IIRC,they are poisonous!
_________________________
The right amount is very guid for you.
Trust that seed to come from Northern Ireland.
Flax seeds cost very little and they may even hold the key.
Everything becomes poisonous, the thing about flax seeds is you have to use them up ‘relatively’ quickly.
I’ve still got a few grammes left of both Camu Camu and Flax seeds from the Winter, I tend to buy in bulk these items. :D
Oscar should get a pair of pliers and get his Wonderful Mum and Dad to eat a lot of Apricots.
Then he can crack open the nut inside the Apricot. It is totally amazing that God has put a protective film within the shell and over the seed, to protect the seed from impurities, wee Oscar will realise when he starts trying to crack open Apricot nuts. ;)
God Bless young Oscar.
Tricky winger Paddy McCourt and midfielder Gary Dicker are training at Oakwell and boss David Flitcroft says verbal deals have been agreed to bring in two strikers on loan.
McCourt, formerly of Rochdale and Derry, is a free agent after being released by Celtic. The 29-year-old, who has 13 caps for Northern Ireland, has played just 89 games in five seasons but is described by Flitcroft as a ‘magician’.
The Barnsley boss said: “Paddy’s come down to see what we’re all about. He wants to come and see us and then we’ll assess where we are next week.
He’s a magician on the ball, he’s creative and a linker. He’ll certainly give us a different edge.”
McCourt had been training with Hibernian and has also been linked with a move to Peterborough and Birmingham.
God bless wee Oscar
Kilmarnock manager Allan Johnston has backed new signing Jackson Irvine to make an impact with the Ayrshire club this season.
The 20-year-old Australian has joined the Rugby Park side on loan from Celtic for the next six months. And Johnston believes the player’s versatility will boost his chances of establishing himself in the top team at Kilmarnock.
He said: “It’s good to get him. He’s a quality player and he will be a good addition to the squad. For me, the big attraction is that he can play in numerous positions. He can play centre-half or central midfield. I’m sure he will do really well. We’ve got him for six months so it’s a great opportunity for him to come in and play first-team football and I’m sure he will handle it no problem.”
God bless wee Oscar
Amido pickin’ up good vibrations in Paradise
By: Mark Henderson on 15 Aug, 2013 15:05
SUMMER signing Amido Balde has been moved by the warm welcome he has received from the entire Celtic family during his first two months in Paradise.
The Portuguese striker joined the Hoops from Vitoria Guimaraes in June and has been gradually adjusting to life on and off the pitch in Scotland.
This is always a challenging time for any player, especially with the language barrier to overcome, but Amido says his transition has been made easier by the friendly atmosphere around the club.
“I feel a lot of human warmth and feel like I´m becoming a son of Celtic,” he said at Lennoxtown today.
“I´m working hard to help Celtic and the fans have given me good vibrations to give me a good impression. I am thrilled to be here.
“I´m doing my very best and the time has already gone very fast. I´m happy to be surrounded by positive energy and that is why I chose Celtic in the first place.
“I also want to thank the manager for his support and I´m learning a lot every day from him.”
Amido capped off an impressive performance during Celtic´s recent 1-0 victory over Liverpool in Dublin by scoring the only goal of the game with a fine run and finish. It was a special moment for the Hoops hitman.
“I felt very good as it´s always good for a striker to score a goal,” he said. That´s my work and I was impressed that, despite it being a friendly game, it was full of supporters.”
And he´s ready to play his part in Saturday´s Scottish Premiership trip to Aberdeen if called upon by Neil Lennon.
“That´s why I´m here. I´m here to help Celtic and I feel strongly about that,” he added. “But this depends on the manager. I´m here to follow his instructions.”
http://www.celticfc.net/newsstory?item=4431
God bless wee Oscar
Yet another reason to avoid the vile trash-paper DR (as if needed)….
http://www.philmacgiollabhain.ie/i-can-exclusively-reveal/#more-3946
God bless wee Oscar