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.
[calameo code=00039017126b6a648d717 lang=en page=128 hidelinks=1 width=100% height=500]
1,203 Comments- Pages:
- «
- 1
- ...
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- »
Real shocking news on the wee mhan.
May God give him and his family strength.
Keep fighting wee mhan!
God Bless
Twitter.
Easdale buys 1.2 million Trfc shares – http://t.co/Ay0JcOyn1o
The lock in period no longer applies as they changed stockbroker?! #devious
God Bless Wee Oscar
Can’t believe the wee Oscar news. KTF.
God bless Wee Oscar and his family in his latest fight. You can do it again, wee barra!
Morning all.
Just found out about wee Oscar.
Devastating news.
Thoughts and prayers with the wee bhoy and his family.
YNWA.
CELTIC are preparing to launch a bid for Finnish striker Teemu Pukki.
SunSport can reveal Parkhead boss Neil Lennon has targeted the 23-year-old Schalke star as he searches for Gary Hooper’s replacement.
It’s understood Pukki has been on Celtic’s radar for over a year now.
Parkhead sources have denied the Hoops were unwilling to meet Heerenveen’s £5million valuation of Alfred Finnbogason.
It’s understood the Icelandic striker — now poised for a move to the Bundesliga instead — was always well down their list of transfer targets.
Pukki, however, has been at the top of Lennon’s wish-list all summer and it seems the Hoops are at last poised to splash some of the £20m made from the sales of Victor Wanyama, Hooper and Kelvin Wilson.
Pukki was in action for Finland as they defeated Slovenia 2-0 in midweek.
The striker, who has scored six goals in 24 internationals, has become increasingly unsettled at Schalke after failing to win a regular place.
Gaffer Lennon was hoping to strengthen BEFORE Monday’s Champions League deadline.
But he must hope the squad already assembled is good enough to see off Kazakhstan’s Shakhter Karagandy and secure the club’s return to the lucrative group stages.
AMIDO BALDE last night urged Fraser Forster to snub a move to Benfica and help him realise his Champions League dreams at Parkhead.
As SunSport revealed on Wednesday, the Portuguese giants are considering a £5million swoop for the Celtic No1.
Hoops boss Neil Lennon made it clear to Benfica his keeper was not for sale when they approached the SPL champs last week.
Balde — who quit the Portuguese top-flight to join Celts in the summer — revealed that Forster has since asked him all about life in his homeland.
But the young striker told him he would be taking a step back if he swapped Celtic for Benfica.
Balde said: “Celtic are one of the top clubs in Europe.
“I think Fraser is very happy here and likes it here so I would suggest that he stay here. He was asking me about Benfica but it was just banter between team-mates, asking what the Portuguese league is like and what happens there.
“But it was just chat, it was nothing.”
Balde — who helped launch Celtic’s new away kit yesterday — opened his Hoops account with the winner against Liverpool in last weekend’s Dublin friendly.
He revealed: “The Liverpool game was very important for me.
“It was great to score my first goal for the club in front of so many fans.
“I was very happy to do that because that’s my job, that’s what I was brought to Celtic to do.
“I always try and score when I play.
“It was a great moment for me and it was great to feel the warmth of the Celtic fans after I’d scored.
“I was shaking with the emotion and the warmth I felt from the fans.”
Balde — who signed a four-year deal last month — arrived knowing he has big shoes to fill.
Gary Hooper’s move to Norwich has left a huge void in the Hoops attack.
Yet last night Balde warned: “I am not Gary Hooper, I am a different player. I have my own style and it would be stupid to try and be someone I am not.
“I know Hooper scored a lot of goals for Celtic and I will do my best for this club.
“It all depends on the manager. I will follow his instructions to the letter.
“I am trying to work hard and improve my game.”
FORSTER … urged not to head for the exit
: K\Kenny Ramsay – The Sun Glasgow
Balde is still adjusting to life in Glasgow after his switch from Vitoria Guimaraes and, speaking through an interpreter, he confessed: “It has not been easy for me to adjust to life in Scotland because there is the obvious problem with the language.
“But I am taking English lessons and I know it’s important that I learn quickly.
“The manager wants me to be able to speak English soon and I am working very hard on that.
“It is a new country and a new club so of course there will be difficulties and challenges, this is normal.
“But my ambition is to learn and improve and do my best for Celtic.
“I need to learn the training regime and what it’s like to work with new colleagues.
“This is a new environment for me but it is a challenge I am looking forward to.
“There are differences in the style of play and that’s something I will also have to adjust to.
“Celtic are a big club in Europe, they are much bigger than Vitoria Guimaraes, the club I left.
“There is a responsibility on me to improve.
“There is also a huge difference to the life I left behind.
“But I don’t go out much in Glasgow. I do my work and I like to go home.”
Balde is hoping to line up against Aberdeen at Pittodrie tomorrow before Celtic fly out to Kazakhstan ahead of the Champions League play-off first leg against Shakhter Karagandy on Tuesday.
The 22-year-old is determined to help the Hoops reach the group stages for the second year running.
But he confessed: “I don’t know much about Karagandy.
“I would like to be involved in such an important game for the club but, again, it will depend on the manager.
“It was just one game against Liverpool. That game went well and I will always strive to show my worth.
“But I am very happy here at Celtic and that game especially I really enjoyed when I scored and feeling the warmth that you get from the fans and the happiness that you bring to them.”
Good morning one and all. Any takers for 2 tickets for tomorrow?
lennybhoycfc@gmail.com
Keep the Faith!
Hail Hail!
Morning all
Just woke up and read the news about Wee Oscar. Absolutely terrible.
My thoughts and prayers are with the wee fella and his family.
Jimbo
Awe just reading the news of wee Oscar, watching him lead the team out against Cliftonville I thought, well he’s a wee miracle, made my night with his antics, thoughts and prayers to all. Come on big man, this family need this wee person….
Ayrshire is Green and White and going to mass to pray
HH
Balde said: “Celtic are one of the top clubs in Europe.
“I think Fraser is very happy here and likes it here so I would suggest that he stay here. He was asking me about Benfica but it was just banter between team-mates, asking what the Portuguese league is like and what happens there.
“But it was just chat, it was nothing.”
according to the Sun
—————————————————
So was the banter between Amido & Fraser done through an interpreter?
Lazy Lazy Journo despicable anti-Celtic sell aw oor good players pish
Was woken this morning by an incoming text re the sad news about wee Oscar. Devastating news for all concerned. Life can be so unfair it puts football and all our petty squabbles on here into perspective. Just logged on to send my prayers & good wishes to the Knox family and to repeat what earlier posters have said, Oscar did it before, he can do it again.God Bless ye all.
God bless oscar
Heartbreaking news on wee Oscar – thoughts and prayers with him and the Knox family.
Good Morning All.
I received an e-mail from Stephen Knox last week in relation to my idea about an online petition re the inadequate treatment for children who suffer Neuroblastoma.
At the time, he had no personal agenda, he just wanted to make sure that the petition wording was as effective as possible, as in certain respects the position had changed since I had first taken an interest in the disease through the Vanessa Riddle appeal.
Accordingly, Stevie suggested some slight changes in wording, but encouraged me to proceed as the issue needs highlighting at every level.
This morning I wake to the dreadful news that Oscar is now, once again, among those who needs the change that the petition calls for.
As you will know, there ios a desperate race to raise funds for MacKenzie Furniss from Alloa who is an almost identical position to Vanessa in that she has developed the relapse at an older age which vastly reduces her chances of survival.
To give you an idea how long MacKenzie has been fighting the disease look at the Celtic Players visiting her at Yorkhill in this photo:
https://twitter.com/theconnors25/status/367777786976411648/photo/1
Yes that is how long ago it was.
She still has the Jersey signed by the players as you can see here:
https://twitter.com/solotwins/status/368078086333407233/photo/1
She has until the end of this month to raise £350,000 with her total standing this morning at around £60,000 — and if she doesn’t get it and misses her deadline the consequences are too horrible to think about.
Now, at the end of this post I will post her just giving page as a matter of course BUT>>> BUT>>> BUT>>> BUT
My mian reason for posting is to try and encourage everyone who reads this blog to just take the time to digitally sign the petition.
If this position is not changed then each and every month there will be another Oscar… another Vanessa…. another MacKenzie …… in fact statistically a new UK based child diagnosed with this so called rare disease……. every THREE DAYS or so.
Yes I know other kids and other people need to be treated with ever less NHS Cash, but this is convenience health care– convenience and economic politics, whereby someone has to make the horrible decision to allow a group of people to die because health funds are better deployed elsewhere.
The cost of treatment should come down– the drug companies and the health authorities throughout the world should have a look at themselves– because the cost is ridiculous.
In any event, please sign the petition— pass it on and ask others to sign it— make some noise about this because throwing a few quid at a child in a desperate position is just not enough—– we just can’t do enough—– in this situation.
My thoughts and prayers go out this morning to Oscar Knox and his folks and to MacKenzie Furniss who to be honest just faces a huge battle for life… absolutely huge.
Her donations page is here http://www.justgiving.com/Appeal4Mackenzie or you can text Mack83 £x to 70070 if you want to donate.
OR
You can sponsor our own Battered Bunnet who is off climbing dreadful looking mountains in Spain to raise money on here behalf– read here– http://t.co/MXQq04UBza
Well done Tony.
But please sign the petition as we need to change this.
My apologies for going on and on and on about this but this is deplorable and need not be.
Besides— we are more than just a donations club…..
Just read the news
God bless wee Oscar
HH
Morning all. Bright and breezy, as usual, down here.
Meant to say yesterday that, while chatting to my auld Dad about the Scotland game, he said that he had had no interest in Scotland since the SFA chose Greig repeatedly instead of Bobby Murdoch. Never even watched the game, it seems.
How often have the SFA cut off their nose to spite themselves to ingratiate themselves with thon deid team? Hell mend them. Hope they all land in jail.
God bless Oscar and his family.
HH
BGFC
Stay strong wee man, thoughts and prayers for a very brave fighter.
HH
stunned this morning .
god bless wee Oscar and his family .
keep fighting wee man, just keep fighting.
morning,
How hard can life get for that wee man,and his family,God bless.
Everything else pales into insignificance.
KTF
Brogan
I don’t think you actually linked the petition. Maybe do that now on a short post so we can’t miss it.
Petition against current treatments and protocols re Neuroblastoma
https://www.change.org/en-GB/petitions/uk-government-and-the-nhs-provide-more-adequate-treatment-options-for-children-with-neuroblastoma-and-relapsed-neuroblastoma-in-the-uk
Please sign and pass on to contacts.
This really does need to stop.
SUPPORTING OUR WEE HERO ALL THE WAY.
~~~~~~~~~~~~~~~~~~~~
Hi,folks.
As has been said,dreadful news from Oscar’s Mum overnight.
I know how to change my moniker-just not on an iPhone-so I’ll attend to it overnight.
Meantime,Oscar is having the fight of his life. Again.
Once he beats it this time,I hope he can rest on his laurels for a bit.
Eff all to him,but hard as nails.
GBWO!!!!
Oscar and his family. Terrible news thoughts and prayers with you.
Just read the news -so much for a young boy and his family to go through
God bless wee Oscar
Dexter, why simply repeat the MSMs stories ?. Whats your game ? Lets shine the light indeed.
BRT&H
I’ve just been having a look at your petition-which I signed when you first posted it.
I am immediately struck by the number of comments from the ALOA area.
Congratulations to whoever has been drumming up support in that area.
I wonder what method he/she used?
It obviously works,and might be worth finding out,and repeating elsewhere.
ALLOA is in Central Scotland.
I have no idea where ALOA is.
Apols.
BMCUP
It is a hotel in Cyprus
XX
THE SPIRIT OF ARTHUR LEE
I think I’d rather visit the one in Scotland!
You heading for the dayoooot on 28/9?
Still looking for venue selections,hint hint.
BMCUW
I will go to either the races with the BORE squad or The Big Day Out.
I will go anywhere that sells bevy
God Bless wee Oscar. Prayers are with you and your family wee man.
Brogan, Rogan, Trevino & Hogan
Petition signed
Jimbo
Running about getting ready for a mass which will include my wee bro’s wedding service. Logged in to take 5 mins peace from the chaos and read the news about wee Oscar.
Jesus, give this wee man and his family a break.
A lot of Tims at the wedding today and all will have Wee Oscar in their prayers while wishing the happy couple well.
Prayers and wishes to the Knox Family
Mucker
OscarCSC
Petition Signed
Just logged on to see the terrible news about Oscar. I have signed the petition.
Find it hard to take what the wee fellow and his family are going through.
Keep fighting wee man.
HH
Mick