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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TURKEYBHOY 2245
I agree with you,mate. Incomprehensible.
I’m all for a competitive league. If it was up to me,we would have four or five teams in with a shout with only two or three games to go.
Crowds up,excitement up,adrenalin flowing,the lot.
But only if Celtic prevail. Otherwise,gimme a walkover. Every time.
coolmore mafia
‘Kettling’ was the word used by the police to describe their actions on the Gallowgate.
Bear in mind it was in response to a group of football supporters gathering so that they could walk to the game together.
Unnecessary, disproportionate and malicious.
https://www.youtube.com/watch?v=3XqtHaPVkJw&spfreload=10
Aye, that was some day out in London
WEEFRATHETIM
I hope everything is fine in Shangri-La,Strathaven. Been a bit wild up there.
Usual tomorrow?
Ach fair enough HT- it was all the things you say to even consider policing such a relatively small march in such a manner
!!Bada Bing!!
22:43 on 15 January, 2015
I wonder of MacLean and Nevin will hear the vermin’s songbook in a couple of weeks? It will be a million times louder than ever before.
……………………………………………………………………………………………………..
Can these people be asked this question now, rather than waiting until the game has passed? Ask them, ask MSP’s, ask Sky, ask Nil By Mouth etc and put all these people on the spot now!
67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors
17:52 on
15 January, 2015
I think Celtic will offer Kris 2 years, IF, and only if, they don’t manage to sign a younger, leaner, fitter replacement this month ……. Don ‘t get me wrong, I luv Kris, but the Manager needs to make the decision, not the media ….
I am leaner and fitter,but alas,not younger.2 out of 3?.
I agree we should sign him up.
COOLMORE MAFIA
Thanks,mate. And to you in return.
Re the kettling in Gallowgate,it was a serious over-reaction,planned from the outset,to little more than a saunter to the ground.
Absolutely no need for it at all.
As to the poll-tax riots,thanks for demonstrating on my behalf. Thatcher allowed the police to act as a civil wing of the armed forces on many an occasion.
That’s why one of her first actions as PM was to hugely increase Armed Services and Police pay.
Cool more mafia. What we are not dealing with here is the Ned’s who attend games and nhave badly, though I have to say there are less and less of these at games these days.
There were already laws in place to deal with that.
The OB act is something far more sinister. Saying you are going to smash the Marxist green brigade is even more sinister. Kettering a group of supporters for trying to walk to park head on the absolutely laughable notion that it was for public safety ( at one point crowded pavements were mentioned) isnt normal behaviour. Dawn raids for singing a song you vpcan buy legally isn’t normal.
It’s sectarian. Institutional sectarianism.
Designed to criminalise celtic fans.
The best thing I can say about the scottish government to excuse the OB act is that they are trying to criminalise just about everyone and trying to control every aspect of our lives via legislation. The police have far too much power and essentially are unaccountable.
But the OB act is by far the worst. It’s an abomination and destroys the notion that Scotland has got better with regards to anti Catholicism.
SCULLYBHOY
Just got your mail,bud. Off to work shortly and will reply early AM.
Turkeybhoy
I think Celtic will offer Kris 2 years, IF, and only if, they don’t manage to sign a younger, leaner, fitter replacement this month
you forgot one very important adjective CHEAPER…
The 3 bears are willing to double their offer to keep Ashley out!
I thought the “game of thrones” had a lot of twist and turns, contenders coming and going with heads lopped off, this is better.
I feel like the Welsh bloke in Notting hill going to the toilet and Julia Roberts is in the bath…magic.
Bob Malcolm on STV Glasgow ( Peter and Roughie’s football show ) sitting under a Lisboa 1967 poster .
I don’t think he realises .
Had a wee smile there when listing the main players in this saga….how ironic is this
GREEN….
WHITE…..
MIICHAEL….
IRELAND…..(MH)
Bobby Madden, ex Rangers ST holder a Bigot (see picture) and a terrible referee #bobbythebigot http://t.co/SDkl5dkP7I
Neg
I share your feelings totally on the OB act. Very wary of House too. One to be watched, like he likes to watch us. Wrong wan.
Bada bing photoshop surely?
67
Mick ;)
Night Timdom,
Bed time. All this bullying Sips fair tires me oot.
Had the misfortune of catching david starkey on question time. Once almost ended up throwing a telly out my hotel window in Nottinghamshire when he was giving his opinion on the wars of independence!
I suspect he’s not got a fighting irish tat!
HH jamesgang
coolmore
It may not have been of the same standard of response as the Poll Tax policing and it certainly was not of the same level of the Miners Strike.
However…..polite and calm???
I happened to walk by the kettling as it was underway. I did not see the start and I may have missed some provocation from the young men being kettled but I have seen a subsequent video recording and I do have the evidence of my own eyes.
Firstly, I came across a young man being held down in a puddle where the policeman was slowly and very deliberately attempting to restrain him. I don’t know why the puddle was chosen as there were very many dry areas in which to take the young man to the ground if he had attempted to escape custody. However as I passed by and observed for a minute or two, the lad was not struggling to escape the copper’s clutches or trying to get away. Nonetheless, he had a prolonged spell in that puddle as the cop resisted any sign of completing the arrest quickly and efficiently. When the cop was questioned by a lady with a camera as to why he was keeping the lad face down in a puddle, he replied that she would be arrested if she interfered with a police officer exercising his duties. He may have been calm in issuing this threat to a lawful member of the public but he was not too concerned about being polite. The police around reacted with the same animosity to any citizen stopping to ask them what was going on. Their default response was to threaten arrest and deny that the public had any business in supervising their actions.
In the video, you can see threats being made with batons as the young men pushed against their kettling. OK, I saw no one actually struck but, equally, I saw no threat of violence against a police person to justify threatening the crowd back.
All in all, it had the hallmarks of an intimidating show of force. Perhaps, police intelligence was that if they allowed the boys to march up the Gallowgate as the rest of the Celtic crowd was doing in a peaceful and disorganised way, there would have been trouble and or violence. We will never know.
But, I am sceptical of the level of police intelligence that kettled this crowd of young Celtic boys but allowed marches in formation by the Ajax fans and their friends from the South Side.
So, maybe it was not Poll Tax riot level but it was a disturbing attempt at lower level intimidation and it is in keeping with what our young boys routinely face at matches. It is poisoning relations with the police and it is not improving anything as the latest trial of that poor German lad shows.
Ogilvie out
Doncaster out
Madden out
WITS out
Kdc oot
Delaneys police scotland are wildly out of control. They seem to have forgetten that you must police by consensus. But macaskill of course was an idiot.
I think there is a horrible sneering and preaching tendency in scottish political classes to the poor. A thought to criminalise and attack them for daring to be poor and addicted. It drives a coach and horses through the illusion that Scotland is a fairer society.
Sipsini
I feel like the Welsh bloke in Notting hill going to the toilet and Julia Roberts is in the bath…magic.
——-
Have you told him that’s how you feel about him?
;-)
HH JamesGang
If it is him of course….
Neg
Noticed one attacking my fellow Bankies today on here. Scumbags.
Interesting post…
”
fisiani
January 15, 2015 at 9:26 pm
Do the Board have the deeds to Ibrox and Murray Park? If not then they cannot agree to Ashley’s terms. Taking 10,000,000 gets them out of this month’s hole.Still not enough to get through to the end of the season but enough to cover the 8,700,000 onerous conract and to cover January payday. So without further funds administration is pushed back a month. Ashley would then be the biggest creditor and be able to control the administration from within. He would also have all the physical assets, Ibrox stadium, Murray Park, Edmiston House and the Albion car park. He could form a new company absent of onerous contracts and let players TUPE over and be the owner of everything. for a cost of 3+10+ say 2 . Ownership of a football team and physical assets for 15M. By August 2015 they could (would) via a few honest mistakes be in the SPL. By August 2016 they could (would) be in the Champions League. By August 2017 they could (would) be the winners of the Champions League. That’s the mythical goal that would collapse resistance and and bring back 60,000 each week. It’s a master plan the Bears would fall for. Felix Magath as manager. would mould a team of champions.
Given that payday is on the 20th just 5 days away this is the only offer on the table. It will be an interesting weekend.”
neganon2-maybes aye,maybes naw, look at they lugs though?
What is the Stars
23:09 on
15 January, 2015
Turkeybhoy
I think Celtic will offer Kris 2 years, IF, and only if, they don’t manage to sign a younger, leaner, fitter replacement this month
you forgot one very important adjective CHEAPER…
—————-
and can score up to 30 goals a season if we play him, but has a terrible first touch :-)
Madness.
HH
CRC
HaHa, ya big fud, you making Cqn 11?
I’ll let you sit beside me if you behave yourself. :)
Bada Bing
Do you know if Madden RAN a supporters bus from EK?
Probably exaggeration but you do wonder.
SIPSINI
He’ll be there. His missus has got the hots for LEFTCLICKTIC!
Bada bing yes those ears do make me suspicious………
Delaneys yes I saw that earlier. Then again Alfie is just a weirdo full stop.
Celticrollercoaster hope you are well? I am saying nothing about commons till we see what happens. But if we lose him………..I fear the worst.
auldheid-i heard BM and his brothers went on an EK huns supporters bus,maybe the Prince Charlie,i will ask around.HH
Reading between the lines of what RD said today,Kris has been offered 2 year deal on reduced terms
NegAnon2
23:29 on
15 January, 2015
good this side and hope the same to you.
You still away from home most days?
HH
CRC
Quiz for awe yooz jeeny asses
1. Why cant you get a taxi in new York when it rains?
2. What prompted the OB act. (A youtube link will suffice)
3. Why were returning WW2 bombers reinforced in those areas that had no damage?
4. Who said to whom “Your perfect for the job of manager for this ***king club”
BMCUWP,
Ye, I clocked that boab, here’s hoping the big chap never:)
Bada Bing
Could you read between the lines of tomorrows racing post and let me have the winner of the 1.50 at Lingfield