Before you start on the subject of the breaking news at the top of the page, we have a VERY important message lower down the page, so make sure you read the whole blog!
Since Rangers first went into administration on St Valentine’s Day 2012 those seeking to phoenix the club have kept their eyes on the critical item – ownership of Ibrox Stadium. Ultimately it doesn’t really matter who owns intellectual property like the badge or crest design or domain name, if you own Ibrox, you decide who can play football in your stadium, or not, as the case may be.
With wages day approaching, and with creditors having taken recovery steps earlier this month, Rangers International are in urgent need of cash to stave off an insolvency event. Two groups of potential new investors have failed to come up with the cash necessary to secure control of the club, and the SFA stopped the club from issuing more shares to Mike Ashley, so, as many predicted, Ashley has lodged papers to gain security over Ibrox and Murray Park. A loan from the affable cockney now seems the club’s only viable option.
The first thing to point out is that this security does not mean Ashley will acquire Ibrox, such an eventuality would only happen if newco Rangers failed to adhere to the terms of any loan secured against it, or both parties agreed to forgive the loan in return for Ibrox being passed to Ashley, with a tenancy agreement being struck.
CQN reported Heads of Terms drawn up in 2012 for the sale of Ibrox and Murray Park, with the leaseback of Ibrox at a rate of £5.4m a year. It’s worth refreshing some of the options which could be on the table.
An annual rent of £5.4m is a bit steep in return for the estimated £10m-or-so cash necessary to finish the season, but newco may consider living month-to-month like this is unsatisfactory and instead take the opportunity to borrow enough money to see them through the next 18 months, a figure well north of £20m.
With no Hearts (and possibly Hibs) to compete against next season, newco would have an excellent chance of promotion into top-flight football for season 2016-17, with commensurate access to additional revenues. They would have to pay rent, and learn to survive without profitable merchandising revenue streams, which have already been sold-off, but at least there is a chance they could muster a football budget almost double the size of that oldco had in 1876, their fourth year of business.
Remember what we covered a few weeks ago. A football club is actually a collection of businesses: merchandising, hospitality, publishing, broadcasting, advertising, property rental, and football. In business terms, the ‘football’ part is rubbish. It always loses money and attracts incessant complaints from fans, who are both necessary to keep the venture afloat but always want to see budgets expanded to allow them to live vicariously by reaching whatever ‘next level’ floats their boat.
Merchandising and advertising are hugely profitable, publishing and broadcasting less so, while hospitality is hugely dependent on the vagaries of sporting fortune. Ashley has merchandising, stadium and possibly shirt advertising. If he picks up stadium rental income, newco have reached the logical conclusion of where a distressed club ends up- someone will come in and strip away all the profitable revenue streams, leaving some other mug to take flak from fans.
This is the template, more clubs will follow.
Tickets go on sale TODAY for CQN 11, our St Patrick’s Day Dinner event, which this year celebrates the 50Years since Stein, the 50th anniversary of Jock Stein becoming Celtic manager will occur a few days before the event, which takes place in the Kerrydale Suite on Friday 13 March.
Last year, CQteN raised enough money to build three school kitchens in Malawi for Mary’s Meals. It was a stunning achievement, attendance at the schools has increased by over 30% since the kitchens were built, over 2000 kids are being fed each day, often their only meal of the day. We’ve told Mary’s Meals we’re going to fund another school kitchen this year, and they have asked us to build at Chibwata Primary School, which has 909 pupils, without any kitchen facility. The UN regard Malawi as the 17th poorest country in the world, but it is making progress and is fertile territory for targeted aid like this.
We’re going to change the mix from last year but as well as your dinner, there will still be a dance with great singers, you will hear from some former players, and Jock’s biographer, Archie Macpherson, will say a few words on the man.
You can book individual tickets or tables on CQNBookstore (at the bottom of the page). Any problems, let me know, celticquicknews@gmail.com
It will be another fantastic event, look forward to seeing you there.
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The old lady is the contessa and Craig Whyte is the chauffeur.
MelBrooks CSC
Uniquely put Kojo…
I’ve been saying that on here for months now.
The wide areas are Celtic weakest link…. Massively….
Guys like Mcgregor, Stokes, Wakaso…. All entirely clueless about :
1)Beating a man
2)Delivering a good cross
3)The defensive side of the game, being a wide midfielder.
They fail outstandingly on all these 3 key areas.
I’d rather read an autobiography from the Chuckle Brothers than read about Rangers.
Our own club is showing little signs of investing, why should I bother travelling many miles and paying inflated prices when Celtic keep repeating mistakes?
Tom Mcglaughlin
Standard Negotiation .
I would like to guess Celtic are more than capable of negotiating. I could be wrong.
250k is a figure banded about in the media.
If that is the ceiling, then yes Celtic could kick off negotiations at 100k…..
And as u rightly say, come the last day of the window, they reach agreement on 175k…
Or something like that
Igc
Followed on twitter
Full Sunday name with pic of 67 squad
Captain beefheart
Wilson sounding pretty sick. Shame!
BMCUW
Two sheets to the wind.
Celticbhoy73
Chris “as I understand” McLaughlin nearly crying on Shortbread….the penny just dropping…
This is great listening…..
JonnyRambo67
17:07 on 15 January, 2015
jamesgang
16:54
b) The NFL ‘worst team gets 1st pick’ system only works cos they have the draft system. And that only works cos they have the enormous, productive production line of talent that is their college system. Football has never worked that way. And I don’t’ think it ever will.
The system doesn’t always work, see John Elway…….
Baltimore had 1st pick and picked Elway, he wanted to play for one of the better eams not the worst.
He just happened to be a very good baseball player and the yankees wanted to sign him.
John says I will go to the Yankees, Baltimore traded there first pick to one of the better teams and John got his wish……..
So that’s the GMS deal sorted for summer, clubs still in talks about possible move in window…..pssst don’t tell anyone as his sister is in the kitchen making the dinner and I’m sworn to secrecy!!
ogilviebhoy
Thanks for that don’t worry, what happens in the living room stays in the living room.
Captain beefheart
Sorry, pressed post by mistake, just wanted to say I totally concur with your sentiments in the earlier post
The posts that annoy me more than posts about Rangers are the posts complaining about posts about Rangers from posters who offer nothing other than the complaint.
One of the jibes that those of us keen to establish the truth, rather than merely get into a shouting match with Rangers fans about what each side believes, is the accusation of being obsessive. You join forces with the hun line of attack when you use that line. They want no “obsession” because they are winning the propaganda battle. They have the MSM onside with their view and they hope that the rest of the Scottish football fans will just get too tired of being called names that they will drop it with a cringing attitude.
I make no apologies at all for posting about their crimes. If anyone wants to read Celtic only stuff, just scroll by until you get it or provide it yourself. But stop advancing the hun argument about obsessives!
Now she tells me it was done on Monday night but I couldn’t be trusted!!!
I was under the misunderstanding that Ibrox must already be mortgaged as being their biggest asset, I don’t know who presently holds the deed but I guess it must be by a creditor as security. Who presently holds the title deeds?
Paddy G, our hero CW..
Wilson hurting BADLY tonight. Saying Ashley should be careful what he does with ra gerrs.
Get Jim Delahunt…. Tae f’ck…..Miss goody two-shoes… Can’t say this, can’t say that, dont use that word, or il spank ur bottom.
What a sweetie-wife that guy is
sftb
Indeed the posts about The Rangers have little to do with The Rangers, much more the pursuit of truth and justice, by generations of Scottish football fans.
There is continual ‘ Sevco talk’ on most Scottish football blogs.
Smash the big lie CSC
long haired yins man
18:32 on
15 January, 2015
Paddy G, our hero CW..
++
I used to think that but now I think if he had ownership why not mortgage it to the max before he left the scene?
Just came out of work and was surprised that it was unseasonably lighter than normal.
Then I realised it must be all the torch lights heading for the bigot dome!
FTP Bob Malcolm on STV Glasgow talking finance. Peter Mc Guire’s that far up his #rse he’s sucking his kidneys.
SFTB….agreed…they have been winning the Msm battle..helped by the usual suspects…and youre right…they just want everbody to get tired with it and go away…no..keep highlighting the BIG LIE..and keep laughing at them…thats what i intend to do….
tom mclaughlin
18:13 on 15 January, 2015
Tom
I fully agree with your opinion, I think there will be a middle ground and GMS will join us in this window, it might go to the wire but confident that a deal will be done that will suit all parties
Most of my mates are Polish/foreign immigrants. Almost all have an affection(usually slight but that is better than nothing)for Celtic. That Legia debacle shocked them, they expected Celtic to coorva their countrymen.
Under investment is damaging.
weeman67
18:26 on
15 January, 2015
JonnyRambo67
17:07 on 15 January, 2015
jamesgang
16:54
The system doesn’t always work, see John Elway…….
Baltimore had 1st pick and picked Elway, he wanted to play for one of the better eams not the worst.
He just happened to be a very good baseball player and the yankees wanted to sign him.
John says I will go to the Yankees, Baltimore traded there first pick to one of the better teams and John got his wish……..
———-
That was 30 years ago, and is a very rare occurrence. Even then Denver had to make a trade that was acceptable to Baltimore to make the deal happen.
bournesouprecipe
18:35
Indeed the posts about The Rangers have little to do with The Rangers, much more the pursuit of truth and justice, by generations of Scottish football fans.
Well said sir. Post of the day for me.
Paddy G, I posted last Wednesday that the latest Private Eye had a header on Craig White. In a nutshell, they basically said that our hero still has a £10m concern at Asbestos Dome..
ogilviebhoy
18:30 on
15 January, 2015
Now she tells me it was done on Monday night but I couldn’t be trusted!!!
I wonder why :-)))))
Keep us posted
HH
HH
SFTB
In complete agreement. Well said! Anytime I try to argue “the big lie” with sticky colleagues, they immediately try to shut the argument down and turn it round by accusing us of obsessiveness. It’s a bad day when you can’t pass comment on them here without the same happening. I love Celtic and all things related but that doesn’t stop me wanting to expose this lie. I live and work in Glasgow, surrounded by zombies living in their parallel universe, but I refuse to join them there by staying silent.
Hail Hail
Captain Beefheart 18:40 on 15 January, 2015
Evening.
Celtic didn’t do anything wrong – Legia Warsaw did.
Tell yer pals to get over it.
Celtic are in competition with Brighton and Hove Albion for the signature of 21 year old midfielder Max Power the player is out of contract in the summer and Tranmere are trying to make up there mind wither to sell him now or wait until the summer when they would get compensation.The midfielder has scored 10 goals I think he would be a super signing for the hoops. H.H.
long haired yins man
18:43 on
15 January, 2015
Paddy G, I posted last Wednesday that the latest Private Eye had a header on Craig White. In a nutshell, they basically said that our hero still has a £10m concern at Asbestos Dome..
>>>
Thanks bud, so unless Ashley buys it from CW’s creditors, he cant have title?
Apologies to anyone not interested in Sevco talk but I can’t agreed that Ashley’s involvement should give us unalloyed joy.
The guy has got deep pockets and the only thing that makes sense for him is to get them into Europe and , preferably , the CL.
That means challenging us on equal terms.
I’m not going to be crying myself to sleep over this but I’ll keep my gloating on this one in reserve for a bit longer yet.
Sooooooo what are Ashley’s plans to do if/when he gets his hands on Mordor?
Is it to lease it back, turn it into some kind of Sports Direct outlet…..or sell it off?
Anyone? Bueller? Anyone?