Stadium, please, CQN11 launched today!

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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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  1. Jungle Jim

     

     

    Guilty as charged!

     

     

    ‘will face liquidation as is the current process being applied to the carcass of Rangers plc’

     

     

    Must try harder ;-)

  2. long haired yins man on

    Had 10 mins listen to Snyde….jeez no wonder I don’t listen to commercial radio.

  3. Call me crazy but i dont think the SFA will just sit back and let Ashley do as he wants…i want in on record that i think they will call him out over his involvement at ibrokes…so there#SFAloyal…

  4. BGX

     

     

     

     

    19:12 on

     

     

    15 January, 2015

     

     

     

     

    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…

     

     

    *and why are you spelling Celtic with a lower case “c”…are you a currant

  5. Now that the “peeple” are ditching the merchandise,

     

    tourists visiting Ayrshire will no longer be distracted

     

    by obese individuals wearing tight fitting blue football

     

    tops.

  6. bournesouprecipe

     

    18:35 on

     

    15 January, 2015

     

    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

     

     

    —————————————————————————–

     

     

    Spot on BSR.

     

     

    I understand why people would like to move on, but’s it’s impossible to go forward until the big lie is out there to a mass audience. Will it happen, I doubt it, but in our little way we must never, never let it disappear to the yonder.

     

     

    I, like a lot of folks on this blog lived through the cheating years. I invested in our team both emotionally and financially. Their superiority on the football field and financially was rubbed in our nose, and it turned out to be one of the biggest football scandals ever.

     

     

    Now thanks to this site and many fine sites like it, we know the truth. We do not live in the dark days of years ago when the MSM ruled with their lies and folks just simply did not know what was going on.

     

     

    We know the truth, and in my humble opinion it is our duty to spread the truth and fight against the lies and corruption that has been bestowed upon Scottish football, with our own club and fans being the biggest losers.

     

     

    And if our statement in the Herald alerts more people to what has actually happened and is continuing and it stimulates people to ask questions and discuss why the statement has been printed then it is our opportunity to inform and educate people that might not know the truth of the matter.

     

     

    HH Dan

  7. jonnyrambo67

     

     

    18:40 on 15 January, 2015

     

    weeman67

     

    18:26 on

     

    15 January, 2015

     

    JonnyRambo67

     

     

    ——–

     

    Hail Hail Bhoys

     

     

    Used to play rugby in Vail, Co when I was a student so I know all about mr Elway!!!

     

     

    HH jamesgang

  8. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    Michael you have taken them away…

     

    It’s so lovely as we walk round the Celtic Way….

  9. Jungle Jim Hot Smoked on

    Coneybhoy,

     

    Unfortunately, many are guilty of the same type of thing . It just goes to show how powerful the media is and how difficult it is not to be influenced by it even if we neither read the MSSM nor listen to Radio Shortbread etc

     

     

    JJ

     

     

    PS Has TonyDonnelly67 been on of late?

  10. BIG-CUP-WINNERS on

    BGX

     

    19:19 on

     

    15 January, 2015

     

    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..

     

     

    ========================

     

     

    Naw he isnae.

  11. Monaghan1900

     

     

    12:36 on 15 January, 2015

     

     

    Direct FFin’ action:

     

    “for months now I’ve refused to let McGill’s buses pull out from stops and I sometimes drive really slowly in front of them until I can see the driver’s face starting to fume in my mirror.”

     

     

    ==============================

     

     

    Uh-oh, lookout – someone’s been reading the ISIS training manual…

  12. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    ssb hoping Celtic will be adversely affected by their wee break …….clutching at straws, methinks …….. Pathetic small-minded cretins, who better hope Celtic do well in Europe to keep them in a job…. :)

  13. Good evening.

     

     

    Firstly I suspect that a loan will be arranged where security will be taken up against Murray Park but NOT Ibrox. I think what we are getting here is play the worst case scenario out for the Huns then present a lesser scenario as a sort of victory. Just my hunch mind.

     

     

    With regards to Paul’s article, whilst I agree with most of it I think we should take heed of his views of how a board will view supporters in the light of that is exactly what I think our board think of us as a support.

  14. Tom,

     

     

    About Scotland being fundamentally institutionally sectarian.

     

     

    Not necessary my view, but what do you think ?

     

     

    HH.

  15. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    big-cup-winners

     

     

    19:54 on 15 January, 2015

     

     

    Aye, and even if they don’t sell 1 shirt, his retail contract gives him ….£4.5m ….hahahahaha

  16. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    greenpinata

     

     

    19:58 on 15 January, 2015

     

     

    The Football fraternity certainly are…..

  17. Big cup winners..

     

    If you think he’s in it for the C/L i suggest you read Weemingers post ( been posted before) regarding the figures …breaks it down brilliantly….

  18. bgx

     

     

    19:47 on 15 January, 2015

     

    Call me crazy but i dont think the SFA will just sit back and let Ashley do as he wants…i want in on record that i think they will call him out over his involvement at ibrokes…so there#SFAloyal…

     

     

    —–

     

     

    Get you, Perry Mason!

     

    ;-))

     

     

    HH jamesgang

  19. Tom,

     

     

    The guy was found not guilty, because he was not guilty.

     

     

    It seems the only person he offended was PC Adrian Kelly. What do you think ??

     

     

    HH.

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