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.
1,145 Comments- Pages:
- «
- 1
- ...
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- ...
- 31
- »
Max Power, GMS, and Stuart Armstrong : IN
And
Boeriggter, Kayal, Tonev, Wakaso : OUT
Would be a fantastic January Window
Ruggyman
at 18. 15
Thanks fur the Nod..Pal.
Yes.. Ah Luv the Celtic Fitba’ n Athletic Club… tae Pieces..
N.. Ah hope it shows.
Not that Ah am Unique or Exclusive..oan this Hallowed Site… in Exhibiting.. THAT Attitude..
Let me say that Ah Jist canny Help Masel fae Being ONLY Interested in The Bhoys..
Nae Ither Team..in the World( Except.. The Los Angeles Dodgers.. (who ,of Course . dinnae Play the Beautiful Game..ed) Wull Ever Share Ma Luv.
Enuff, aboot Me..
Yes.. You are, A very Perspicacious.. Young Man..(Whit’s That? Is it a Zinger?..ed)
Na..it’s a Compliment..
Ah Intone…Yes n Yes , Yet again..
Celtic.. are Lacking .. TWO Raiding Wingmen.. Players who kin..
Worry n WORM… thur Wey. ,, tae oor Opponent’s Bye Line..n .. Dribble thur WaY DOON it
..a la.. Charlie Tully…
Wans who Kin.. Insinuate Thur Wey… Intae the Weakest Part of a TEN MAN DEFENSE..
Tae the Part that is as… Saft, as Mr. McCoist’s.. under Belly…
n..Spray a Deadly..n.. ACCURATE( It MUST be Accurate.. That is The Topper..ed)
Pass tae an Onrushing Celtic Colleague ,as he arrives.. Jist in Time tae Receive it..
N.. Blast n Unstoppab;e Shot..High inta oor Noo Ripped Apart Opponent’s Net..
FAE CLOSE RANGE..
That’s How ye Break Doon a Stuffy Ten Men Behind the Ba’.. Defense..
‘
Room 101… At Ridgemont High.
Nice Chatting ,wit ye.. Pal,
Kojo
Still,Laughin’
The Long wait is over…if thats Ashleys plan…his pockets are gonna have to be deep….really really deep…
themaestro72
18:04 on 15 January, 2015
Yeh, by all means let’s talk about Celtic who, along with every other Club in Scotland, were shard / cheated by murray and his oldco for 20 years……HH
Ogilviebhoy@18.30
What does she mean you couldn’t be trusted. What give her that idea? Lol
HH
Shard = shafted ….. Right, away to turn off predictive text …. Haha
Done…
BGX
I agree up to a point.
How much would investment it take to compete with us if he can 40k/45k fans back on side?
£20m? £30m?
He’s got that I should think.
His issue is not what he can afford to pay – it’s whether he can get the Peepul on side and whether he’s prepared to spend to get them onside, which is what they want him to do.
Hh
The long wait is over….anyway ..he would have to sell Newcastle …a team who gets more exposure world wide than sevco ever could in the C/L.
MA has had security over all loans he has given to date. There are no assets left to offer security over for any further loans.
So let me get this straight, are you saying that MA will after the £10m loan continue to pour money into Sevco in order to get them into Europe/CL without security? To do that the loans required would dwarf any loans made to date. Is that what your saying???
If not please explain!
Quantum 18.58
Post aimed at the long wait is over
Second leg Madrid derby just about to ko
My guilty pleasure is listening to Super score board. Tonight is brilliant, Bleating hun after bleating hun. One just described Dave King as honest.
They are running ads at the rate of 3 times an hour for this R@@@ers First lot which begin with the words:
What do Real Mardrid, Barcelona and Bayern Munich have in common?
Unfortunately the answer they give isn’t they all didnae go bust in 2012.
Does thiis make me a bad person?
HH
Clyde SSB latest …
Halfwit hun – i don’t trust the current board . I only trust the three bears and Dave King
Jim Delahunt – Why do you trust them
Halfwit hun – because they are honest
Dave King ? Honest ? WTF ?
Why worry about the Rangers what ever will be will be the future is not ours to see.I am interested in Celtic I want them to support Rony by bringing in at least 3 new players capable of playing in the first team right away.I dont expect us to progress beyond Int.Milan but I would love us to land the treble.H.H.
Max Power? Yes please!
No idea if he’s any good, I just want us to have a player called Max Power.
BT
Ya dancer thanks! Forgot about it. :)
BT
What a start!
Athletico one up
Three up on aggregate
DD
Maybe put bet on now
Blimey!
the long wait is over
18:45 on 15 January, 2015
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.
#################
Spot on mate , Ashley ain’t sticking out cash to them , not to have an interest . He has the cash , and he wouldn’t need to spend to much to challenge celtic . This guy has the where for all to clear thems debts and put a team on the park capable of taking the title next season . The threat is there if the celtic hierarchy would only open their eyes . But they won’t .
BT
Real to win?
ruggygman
18:09 on 15 January, 2015Jim Delahunt……..What a gimp !
the sooner they get Scottie McClue doing the phone in,the better :0
DD
11/8 to win match
7/1 to go through
Stein evening to you,
I agree but my point was about the result. Having said that, one eccentric Czech did moan about Legia’s expulsion, I disagreed vehemently with him. A few poles moaned, others gloated at the ineptitude.
BT
11/8 is a tempter :)
Do away goals count double in Copa del Rey?
Ipox” the holy ground” ffs nearly spat ma dinner oot there
DD
Not sure need to ask big g64
Real 0 -1 ATM ……ssb in mourning tonight
Jimtim…then why doesnt he just give them say…£20 million to go out and buy players to win the CHAMPIONSHIP…you know…the league they are struggling to get out of…
jimtim
19:07 on
15 January, 2015
If he is in it to bankroll them, why the need for The Security for the loan :-) Why not just give them what they need? You are getting your hopes up too much.
The long wait – MA could get control of the assets and if he owns them he could take 10m a year out of them without putting anything in.
I’ve said repeatedly on here that he’ll be 50m in the whole to them just to get a sniff at the CL. That’ll involve running the team at a loss. CL might give about 10m profit. So 4-5 years consecutive group stage appearances just to break even. Close to 10 years involvement before he sees a return on the investment.
The Champions League is not his target.
“Obsessive” is the New “paranoid”
Turns oooooot I wasn’t paranoid enough, dont plan on saying in years to come that I wasn’t obsessive enough,
Dig and expose the lie every chance you get.
If the legend that was, Tom Wilson , still with us, I’d rather bonus beats taking over SSB…. Some old skool classics, in between all the greetin Huns.
The Pantaloon Duck. Max Power is a terrific prospect and only 21 in my opinion he would be a great signing. H.H.
Joe’s hairdo – so much the better!
Stienreigns…,
Good to see you back, and don’t slag our huns again, our huns are rebels :) it’s their job to be offensive
Or you choose :)