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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Why does the name Max Power make me think of “set phasers to malky”?
Last caller….. The worlds most successful club….
What??
One Scottish Divi 3 title, and one Divi 2 title….
The mind boggles
skyisalandfill
19:00 on 15 January, 2015
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
—————————————————————————————————————-///
Not in the slightest !!
#schadenfreude CSC
HH
Ive said this before…the huns buy a lot of merchandise…more than Newcastle…over £5 million per year profit for Sports Direct..for little outlay……Ashleys in it for the merchandise..
Jimtim
Scottish football clubs do not make profit margins which make multi million injections of equity worthwhile.
Despite receiving a divi each year, DDs great grandchildren will be lucky to see break even on what he put into Celtic.
If there is a promised land on cash flow for a Glasgow club, we would be on it like a duck on a crust.
Ashley will continue to loan and get the cashflows effectively for free. Good for him, bad for sevco.
The last guy to give free money to a club without cashflow was the guy at Blackburn in the 90s.
Chelsea, ManU etc have huge debt tk the owners but throw off huge cash as an asset.
The Huns will be bled and liquidate again. I have no doubts
Beefheart,
Most just wanted to blame Celtic, they took out ads ffs, people paid for propaganda
How bad would it be if people had to pay to neutralise propaganda… Oh wait a minute
Bgx
Do you think thems won’t get into the spl next season .
magnificentseven
19:12 on 15 January, 2015
I’m not a businessman , but why is he pumping money into them at all .
BT
Did you get on Real before the equaliser?
!!Bada Bing!!
19:11 on
15 January, 2015
Ipox” the holy ground” ffs nearly spat ma dinner oot there
——————————————————————
Bada a clearly confused sevconian there
Should that have been neuter ?
Can embdy spell cutting their balls off ? In fancy talk ?
Jim Tim..under their own steam..honestly i wouldnt bet on it.
.he’ aint pumping money in mate…loans have got to be paid back..
jimtim-these guys aren’t putting millions into a team, playing in the Championship next season
BT,
Cider ?
coneybhoy
19:20 on 15 January, 2015
Thank you for your courteous view . And I hope to god you are right . But I still wish Ashley was nowhere near thems
Jimtim – he made millions on the retail side last year. If he controls the stadium and training ground he can rent them back and get yet more profit. All for nothing, or close to it.
BT-Meant to be a text message?
jimtim. He obviously is going to make money out of the deal if the Rangers default on the loans he will have hold over Ibrokes and Murray Park. He is a clever man and wont show his hand to the time is right for him. H.H.
Is Copa Del Rey the wee brother of Lana Del Rey?
Or is she the diddy(C) cup. Ooh err missus
Ashley got £2 mil for Pardew ffs,man’s a genius.
If Ashley gets ibrox and Murray park he will pocket including merchandise and advertising around £10million a season no matter what division the loonballs play in and all for a starting loan of £13million.
He dosent need them to be in Europe or the top league HH
19:12 on 15 January, 2015
I’m not a businessman , but why is he pumping money into them at all .
He’s not pumping money into them. He is giving them a loan that if they default on he will gain Ipox and the training ground.
Jeezo bhoys ,lol been on this site since the start . First time I’ve had so many responses .
My friends in Celtic,
I quote from previous post referring to the dark side
“Ibrox is not just a stadium, it is a beacon of hope, of remembrance, of inspiration to every one of us who cast a favourable eye towards her.
Quite simply she is beyond price.”
——————————————–
While I don’t sympathise, I can understand. Events today at Greyskull are monumentus and are potentially the end game.
I watched the commonwealth games opening ceremony with a feeling of pride and a sense of relief. Relief that previous custodians and land owners never achieved their wish to relocate us to Cambuslang.
To contemplate moving from our spiritual home would have been unthinkable Not just the football memories, but life memories.
Maybe some of us forget, but not I. For that alone I say Hail Fergus every time I approach the Parkhead gates.
It truly is Paradise.
HH.
Jimtim
Just my view but Billionaires tend to get there by spreading their interests. They screw up sometimes but can carry it. Not necessarily smarter than you or I
Hail hail
Whatever happens they are effed but it seems this deal was kept quiet, which make me wonder why?
Now how long can the SFA sit back and ignore what’s going on? If Ashleys 10mil is accepted then his control of the club will be beyond any doubt (perhaps that’s the reason why). No laughing at the back now but they should revoke their licence immediately or at the very least, issue a statement saying that it will be revoked if this deal is accepted.
Our game is already a laughing stock but turning a blind eye to one man owning two clubs will make it beyond a joke!
Jimtim
Must have been a great question and at the right time!
Coney
Did you know that Lana is a Celtic fan. One of our most talented and beautiful supporters.
Greenpinta-you speak for many of us there amigo.HH
jimtim
19:32 on
15 January, 2015
Jeezo bhoys ,lol been on this site since the start . First time I’ve had so many responses
A helpful lot on here :-)
I have asked Paul to remove me from Cqn and sent an email direct to wc
Ashley also took a big bet out on Tesco shares a few weeks ago.
They were 183p then. Now 219.
No dozer.
From The Scotsman:
A GERMAN football fan has been cleared of singing a song in support of a terrorist group at a Celtic match – after claiming he didn’t understand the lyrics.
Lucas Tussing, 20, also argued the “The Boys of the Old Brigade” he chanted about was not the same IRA responsible for decades of atrocities.
Tussing was arrested at a Celtic v Kilmarnock game in March 2014 after police saw him waving his arms about and singing “offensive” songs.
He denied breaching the Offensive Behaviour at Football and Threatening Communications Act and an alternative charge of threatening or abusive behaviour.
PC Adrian Kelly said Tussing as “quite vocal” among Celtic supporters in the south stand of Kilmarnock’s Rugby Park ground, adding: “There were others singing but he was the one our attention was drawn to.
“It was televised and we have concerns about singing which can be broadcast on national TV.”
PC Kelly, one of two officers who arrested Tussing, recognised parts of the song Roll of Honour, which commemorates Irish Republican prisoners led by Bobby Sands who died on hunger strike.
The officer heard the lyrics “Through the war-torn streets of Ulster the black flags did sadly sway/To salute ten Irish martyrs, the bravest of the brave” being sung from the fourth verse.
Kilmarnock Sheriff Court heard the song referred to events during the Thatcher government, when Republican prisoners went on hunger strike to obtain political rights in prison.
PC Kelly said Tussing was “singing constantly”, adding: “When I went out to the stand I was making my presence known and wearing a fluorescent jacket. Sometimes that is enough to encourage people to stop singing.
“Mr Tussing was the most vocal. Others were singing further back but he was the closest. I made the match commander aware Roll of Honour was being sung.”
The officer, part of Police Scotland’s FOCUS – the Football Coordination Unit Scotland – said he had policed games throughout Scotland and Europe during his 18 years service.
Neal McShane, defending, asked if he was aware of groups called the Green Brigade or the Celtic Risk Element.
PC Kelly replied: “I think they are more associated with the Celtic Ultras. My information is the Green Brigade consider themselves as an ultra group.” It included ordinary, well-behaved fans, he agreed.
The officer said: “Large flags go up and faces are covered. They are trying to hide their identity because they know police are there with cameras.”
Claire McEvinney, prosecuting, said: “Police saw the accused singing constantly. For all the songs he was singing, he clearly knew the words and he accepts he knows such songs.
“It’s my submission that people singing about a terrorist organisation would be likely to incite public disorder. He was at the game, he had the scarf on, he was very animated.
“It’s within judicial knowledge that there’s lots of politics within football, especially Celtic and Rangers. Both the songs are about a terrorist organisation and singing songs about terrorist organisations could cause someone upset, fear and alarm.”
But Mr McShane said: “The Roll of Honour is a song and we’ve heard no evidence a terrorist organisation is referred to in that song.
“Effectively, it refers to people who were in prison on hunger strike. I will go so far as to say it is not in support of a terrorist organisation but is in support of people who were representing the rights of prisoners. Indeed, one of them became an MP.”
Referring to The Boys of the Old Brigade, Mr McShane added: “Both officers saw Mr Tussing sing, ‘I joined the IRA’. Obviously the IRA is a terrorist organisation but we have heard evidence from the first officer that it was about the Easter Rising of 1916.
“It was put to the officer and she agreed it was not about the Provisional IRA that committed atrocities which are fresh in all our minds. The officer agreed we were not talking about the same IRA which committed the atrocities.
“We heard of Flower of Scotland, which refers to Scots rebelling against the English. Indeed, we heard of the Star Spangled Banner, which refers to the USA.”
Mr McShane added: “We have heard the Crown Office deemed both songs to be offensive and consequently Mr Tussing was arrested.”
The lawyer said Tussing was a young man from Germany and “not from the East End of Glasgow, Scotland or even Ireland. The difficulty is we are not dealing with a person of that background. The first officer was surprised she was dealing with a foreign national.”
Tussing, of Dusseldorf, told officers: “Everyone was doing it. I wouldn’t have done it if I knew it was criminal.”
Sheriff Shirley Foran described the “unhappy situation” of the court put in a position of making pronouncements on lyrics or parts of lyrics said in whole or in part.
She accepted the accused did not mean to commit a criminal act, and said: “I do not find anything threatening or abusive in Mr Tussing’s behaviour.
“In respect of the first charge and in the absence of evidence, I have doubts of the likelihood of inciting public disorder and by virtue of these doubts I find Mr Tussing not guilty.”
Outside court, Tussing, accompanied by his father Frank, said he started following Celtic after watching games at English-speaking pubs in Dusseldorf.
He insisted he meant no offence and added: “I will never go to another game in Glasgow, Scotland or the UK.”
Mental innit :)
Apologies if already posted:
http://captiongenerator.com/29168/mike-ashely-is-a-tim
:-))
HH.
ellboy-they clearly are trading insolvent,Regan and Doncaster in full Blackadder mode ,hiding under their desks,pencils up the nose…
Coneybhoy @ 19:20
“liquidate again.” You will have to explain that to me 0:-)
BT @ 19:26
?
JJ
Delaneys
Indeed she is!
B-)