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
- ...
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- »
God Bless Wee Oscar
I’ve just left the dentist with a sore and bleeding mouth. He’s had it coming, in fairness.
Heartbreaking news for wee Oscar but I’m sure he will carry on the good fight, he’s a warrior.
Petition signed, every little bit hopefully helps.
Oscar KTF….
HH
The bravest person I have come across in my life is Oscar Knox .
Prayers with the Knox family today ,If you needed a wee fighter on your team
Oscar would be the first name on the sheet.
My emotions today could not be more different to how they were yesterday.
My thoughts are very much with the Knox family.
THE SPIRIT OF ARTHUR LEE
I like yer spirit (!)
The race-day sounds a good one too.
Not been to Ayr Races for a while now,but I did make it the last time a Classic was run there.
And not The Scottish Classis,aka Scottish Derby either.
One of the big five…..
Life reminds you sometimes that football is just a game.
God Bless Wee Oscar, MacKenzie and all the weans who fight this insidious disease including those who have lost the fight, my great nephew Ross (RIP) being one of them.
Petition signed, donation made, to quote oor Kev off oot…………
Laters………..
Just read the terrible news about Wee Oscar!
Dear God we need a favour here. Just one. Please.
Always in my thoughts and prayers.
Good luck & best wishes to wee Oscar & Family
Terrible news about the wee man.
Petition signed BRTH and it is a sin that our government can find any amount of money to buy state of the art killing equipment but can’t fund the best cancer treatment.
Prayers said for wee Oscar.
Why would NFL and JM be watching Finland v Slovenia on Wednesday night? Just asking like?
Petition signed, donation made
petition signed
when you think of the billions wasted on i.t systems,
never used in the nhs
yet we allow yet we allow our children to suffer
Sitting around feeling sorry for myself because I am fasting while waiting to go to the Health Centre for tests. Then I come on here and read about little Oscar. Do I now feel a real idiot!
Prayers, and Mass later today, will be offer for the wee mhan and the family. Off now to send a petition by e-mail to Lourdes for Oscar.
Just read the terrible news about wee Oscar.
God bless and watch over him and his family.
HH
/Bishop B
God bless you, Oscar. You are in my thoughts and prayers.
connaire12
Good luck with your tests!
.
First thing l read this Morning was Oscars Mum’s Blog……………..
I Decided to try and have a Positive day..Which l did..
But tell You what..When l picked My Wee Ghirl up from School she got one Big Hug..
God Bless You Oscar..One thing you are Not is..’Wee’..
001Bhoy
Paul 67
If Rangers stated position is that Rangers the Club and Rangers the Company are two seperate entities (and it is the club which they claim has the history), why are their board and fans concerned with a board meeting and EGM of Rangers the company?
That is a head scratcher!!!
Good morning from Tbilisi…was going to post something, however, after reading about the wee boy Oscar, it would only be trivial…perhaps later…
Copied from Wee Oscars blog:
Thursday, 15 August 2013
Devastating news…
Can’t believe I’m sitting down to write this piece – I haven’t even recorded all the good news and happy times we’ve had over this past few months….
We’ve had some terrible news – Oscar’s cancer has returned, the disease is extensive, and it’s spreading rapidly. We found out 6 days ago that he had relapsed after suddenly developing symptoms during our last few days in Scotland. We saw the full extent of it in the scans he had today.
It’s not good, we are totally heartbroken and very frightened about what lies ahead. Our little man is in excruciating pain, not eating or drinking, and finding it very difficult to walk. The priority right now is to relieve his pain with regular and increasing morphine, and to decide on and begin a treatment plan ASAP. We have some very difficult choices to make, but more importantly Oscar has ANOTHER incredibly tough battle on his hands. Please please send every positive thought you have our way, and support our brave wee Oscar as he fights for his life once more.
Stephen and I are shocked, scared, and overwhelmed by this news. We thank everyone for their incredible ongoing support, but need space and time to deal with everything. I’m sure this goes without saying, but we ask for no media requests.
Thanks guys, lets get #TeamOscar back on the rollercoaster, and tackle this beast as the main man has previously shown us how. We love you so much Oscar x
God Bless Wee Oscar and all weans who suffer with this disease.
RobinBhoy
Just sent petition to Lourdes and had a candle lit at the Grotto for Oscar and his family. God be with you all.
Thoughts and prayers with Oscar and his family.
You’ve kicked it’s arse before wee mhan………….
Bma
BRTH, petition signed.
Keep posting that link.
Celtic
SOAL
BORE squad….
from the one who arrived late and left early :¬))
unless BORE is a fancy acronym for interesting,urbane and gifted personalities
Thistle v Hertz on BBC Alba tonight.
If they win Thistle will be top of the league.
C’mon the Harry Wraggs!!
HH
/Bishop B
Petition signed
….PFayr
It took me 2.5 hrs to get home that night
Traffic
Heart breaking news about wee Oscar. Certainly dampened my mood for a Friday.
People at work wondering why I am down and a bit crabbit. They don’t understand that this club is a family. One one of us suffer we all suffer. When it is a young Bhoy with an illness it’s just too hard to take. Nearly in tears when I read on the bus this morning.
LB
Petition signed
Come on Wee Oscar
Very sad news about Wee Oscar……..he was doing so well, too…..words are hard at the moment, but he knows how we all feel about him …… he is Head of the Celtic Family
May God Bless and watch over wee Oscar Knox my thoughts and prayers are with him and his family.H.H.
fourgreenfields
10:13 on 16 August, 2013
Can you send me the link, please
67HEAVEN
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
67Heaven…………..
Brogan Rogan Trevino and Hogan supports Kano 1000
08:51 on 16 August, 2013
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.
Here is the petition link once again and Mackenzie’s just giving page.
This has got to stop.
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
http://www.justgiving.com/Appeal4Mackenzie
67heaven … i am neil lennon..!!.. ibrox belongs to the creditors
I see some of the Bhoys have posted the link above .
HH
celticrollercoaster
07:28 on
16 August, 2013
Bhoys and Ghirls
A wee update on my request earlier this morning for us to change our monikers for this weekend only in support of Wee Oscar and his family.
A very kind hearted CQNer has contacted me and offered £2 per unique moniker (capped at £500) that is registered before 6pm this Sunday and has Wee Oscar in their name.
The money will go direct to the family, who are both not working at this difficult time as they need to spend their full day with Wee Oscar and Izzie.
I know this CQNer can afford it, so let’s make him pay and get those monikers changed. If there are any more kind hearted CQNers out there that want to out do this one, you know where to contact me. :-)
God Bless Wee Oscar and his family
HH
CRC