Rangers International adopted a firm position in their court hearing against former director, Imran Ahmed, in Edinburgh yesterday. Directors and major shareholders know they have a cash shortfall for next season, even if season ticket sales are as higher than anticipated. Therefore, they know they will need to facilitate a loan, cough up for more shares or issue shares to new investors. A few million here or there from season tickets will not change this fact – so the argument goes.
With that in mind the club is under no serious threat from fans turning towards Dave King’s glorious attempt to deprive them of cash. Contrary to earlier reports, organised protests against the Easdales, Ashley and Laxey Partners is in no danger of putting the club under.
The best case scenario for King and his Band of Protagonists is that the club owners would be worn out by the sheer hassle of dealing with their campaign and would wilt before cutting a deal with him on very easy terms. This does not look likely today, the owners appear intent on getting a return for their money.
At various times during the past two years I’ve offered goodwill towards Hibernian, wishing them well against Hearts in the 2012 Cup Final, encouraging them after they lost to Celtic in the 2013 Final, and on the Hail Hail Media Celtic History podcast I spoke about The Famous Five being the best team in Europe in the late 40s, but I’m all Hibs-d out. I hope they are relegated.
50 years ago Hibs were almost the same size a club as Celtic, although Hibs were far more successful at the time. The decades since have utterly destroyed whatever legacy left by The Famous Five. Sir Tom Farmer’s ownership has provided financial stability but when he combined with Rod Petrie the pair contrived to bring about the most wasteful partnership in the history of the Scottish game – and that includes Sir David Murray’s years of unrestrained bombast.
New chief executive, Leann Dempster, has been more than a firm hand on the tiller at Motherwell, she delivered success over and above their station, but Hibs are so afflicted you wonder is anyone will be able to resurrect it with Petrie still in the chair, Farmer in ultimate control and Terry Butcher in the dugout. Not only do they deserve relegation, it may be necessary for Dempster to clear-out the deadwood above and below her. Better to be relegated than stumble on with Petrie and his Inverse Midas Touch.
Some good Celtic fans and CQN’ers are holding an event at Monroe’s Tavern in Galway tomorrow in aid of Console, the Irish suicide prevention charity. One of the many auction items is the photo above, signed by Bertie Auld. If you would like to help Console, stick a wee bid into ruairigucks@gmail.com .
Issue 20 of CQN Magazine, CQLisboN is out and enjoying great reviews. Click here to read for FREE.
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Hmmm.
Balde to start.
Kojo will be pleased.
Surprised that our captain is on the bench.
RE: Rangers politics
Taking the Ranger’s defence at face value from yesterday’s hearing with Imran Ahmad, they have convinced the judge that they are not in serious financial peril.
This was explained by verbal assurances from Ranger’s QC that investors had promised to step in to shore up Ranger’s finances in the event of poor season ticket sales. Ahmad was wanting £500,000 ring fenced. The judge denied the motion.
The ranger’s QC produced an affidavit from Daniel Stewart (Investment brokers), saying the share price had rebounded satisfactorily. This is from a 70p per share IPO price, to a low of 21p. It rebounded to 22p. Something smells rotten here.
There is however a possibility that no such assurances have been given by investors. It may be spurious, allegedly like the 2.5 million unsecured credit facility they claimed they had that may not actually exist. It’s also possible they don’t even have the half million in the bank to pay for Ahmad’s claim.
Court heard that 2000 tickets had been sold, at estimates ranging from £250 to £400. Not enough to pay their short term loans even.
Dave Somers (Ranger’s International non executive chairman) bought 35,000 shares yesterday at 22-24p. (less than £10,000). I don’t think this was coincidental or part of a confidence in the business.They may have been bought with the day in court in mind. I would guess we may be seeing a Robert Maxwell type ploy of buying shares in his own company to bolster confidence for others. He is privy to inside info as are the rest of the board, yet even at these low low prices, no additional buying by the board has been going on except at these small stakes. This is something else which smells, counter-intuitive to the normal confidence derived from a director buying shares.
Just wondering whether that team will be a throw-back to the ‘lop-sided 4-4-2’ of 2010/11 rather than the present-day 4-3-1-2, with Boerrigter in the Commons L/AM role.
Hibs need to stay up.
I don’t mind Hibs at all. And we need a club of their size maintaining SPL status for the inevitable return of Zombies Mark Whatever. The more capable clubs in the top league capable of putting the vermin in their place and sending them back down, the better.
79caps
18:50 on 7 May, 2014
GG @ 18.29
I’ve just watched the highlights. The second goal was a beauty, with Twardzik and McMullan playing a prominent part and then an excellent finish by that youngster whose name you keep highlighting. What was the right-back doing in the opponents’ penalty box?!
Scoring? LOL
Aiden
Aye that must be it bud.
I was listening to a Rangers supporter on Clyde just then, he nearly had me in tears!
Was at the game at Perth on Boxing Day and reckon that Big VVD’s goal along with KC’s against Karagandy are the top 2 this season. 3rd maybe Lustig’s in the 7 goal rout at Swinecastle?
paul, why so anti hibs today??????
BT
Magners helps the knees!
up_over_goal
Looks like 442 to me. Boerrigter on the right, Mulgrew on left.
Up over
Agree mate. I’d like to have seen that line up long before now.
COYBIG!!!
Or COYBIY more likely.
Cmon the Teemu :)))))
Till later all
DD
and at £2.90 a bottle not to be sniffed at…o))
BT
That’s high on the scale of fly.
Got both Teemu and Amido as first scorer.
Burghbhoy,
I wasn’t at the game but I’d definitely have it top 3 ;)
dj67
Fair enough.
DD,
That’s impossible pal ;)
I’m gonna head for a wee looky the now. See where the value is.
BT
3.20 in the Horse. Sno fair. :(
Boeriggter……what’s the point ….the most ineffective CFC player for some time
Opposition should know how to deal with him ….clatter him …white flag
DD
if id known that I would have been on that rather than strongbow at 3 ..
Just so that I have the option of cutting and pasting this around 9.45 tonight, here’s Jobo’s latest donation to L. Adbrokes
1. Celtic at minus 1 (11/10)
2. 5 or more total goals in the game (7/2)
3. 6 or more total goals in the game (8/1)
4. Yankee – Sunderland (21/20), Motherwell (Evens), St Mirren (9/5), Hearts (13/8).
If my Scottish picks are correct then with 1 game to go the bottom 6 will be on the following points.
7th St Mirren – 41
8th Ross County – 37
9th Hibs – 35 (goal difference -19)
10th Partick Th – 35 (goal difference -21 or worse)
11th Kilmarnock – 33 (goal difference -24 or worse)
12th Hearts – 25
And if my aunty had…..
GM
Teemu Balde first scorer. Haha
Sunderland hearts motherwell and st mirren.
teams to stay away from tonight bhoys….
afoot..
hail hail
bt –
was that (a) a huge coincidence or (b) a comment on my usual lack of success? ;-)
BT
Your next one in the Horse is on me!
Give me a shout when you are next at GJ.
DD,
It’s got a ring to it. Lol
I think I’ll fire the cash on Chris.
Just watched the sport section bbc scotland news, showed goals fi last nights games, mentioned importance of relegation game tonight.
Scottish champions v Scottish cup finalists not even mentioned!!!.
They dont even try to hide the hurt now!
Its good tae be a tim.
Big sean.
Celtic bought and paid for Hibernian’s stadium,more or less…all those players that they sold to Celtic for good money,many of them duds.
They even had the cheek to complain when Celtic signed Didier Agathe for a nominal fee.
Such a footballer he was all the same.
HH.
16 ROADS
Aye,till Webster nailed him. Didnae even get a free-kick.
He seemed to lose a lot of pace after that.
Just stuck my usual bet on CELTIC to win -2. Then seen the team!!!
big cup winners
Money in the bank.
New article posted
16roads
I stayed in Leith for a few years in the 80’s. The majority of Hibs fans I knew liked us. They did destroy their wall, and Irish heritage though!
Aidenbhoy
-2 goals has paid for my last few trips to see the Tic.
Right enough it’s not a big journey from G64.
“Didier Agathe – who had been anonymous throughout the previous 40 minutes – came across him, the youngster stuck out a leg and sent the winger flailing to the ground.”
Roddy forsyth.
Hunbelievable.
DD
Agreed.
I lived in Edinburgh ( mostly Leith) for a few years, early 90’s and the older Hibees I knew shared a very similar outlook to us…….especially in the singing dept.
Todds Tap CSC