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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Yep celticrollercoaster but my cunning plan to bring it to an end nears fruition…..
jimtim
19:07 on 15 January, 2015
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 .
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tinytim
20:43 on 15 January, 2015
Quantum 20.59 / DELANEYS Dunkey.
I am alone on this one ,but I completely disagree with Paul’s assertion that Mike Ashley doesn’t want the football operation.
He wanted to increase his shareholding ,the SFA ( quite rightly) stopped him.
His next move to offer a loan with the stadium & Murray park as security was forced on him.
He needs to sell Newcastle .He lost his buyer.
He may have another lined up.
Alan Pardew is a personal friend of MA.
I suspect Ashley gave Pardew the word that he had a buyer ,and the new buyer would want his own man.
Pardew goes to a much smaller club ,rather than being on the dole.
Ashley gets £2m compensation.
Time will tell who is correct.
I sincerely hope I am wrong ,because if Mike Ashley wants to own the whole club and invest in it.
Run it prudently ,then that is bad for Celtic.
TT
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stebhoy
21:09 on 15 January, 2015
Tiny Tim – i think you are correct and many on here + rangers fans could be missing the point.
Rangers, with investment, (pocket money to MA) could easily be playing champions league football within 2-3 seasons and therefore BROADEN THE SPORTS DIRECT BRAND.
His intent in increasing shareholding suggests he has motivation. His eagerness to sell Newcastle is another key indicator.
He knows how to make money , he won’t care about rangers and their fans as long as he’s making money.
I think the best situ for celtic is that MA is blocked somehow – we don’t want a man with that kind of wealth any where near them. The gluttony would start all over again but this time they have the $$.
Just my opinion based on events to date..
##############
Strange I posted the top piece hours ago and got roasted . But seems TT and a few others have the same grasp of things .
Neg
I have more descriptive adjectives to label Alfie. Counted to 10, then never posted my views on his attack on the weakest members of this strong wee town of Clydebank. If he is a representative of Scottish Labour? God help us.
Neganon2 22.18
I think it is the lack of intellectual input by a few that I was pointing out (aka as stupidity) that led the stupid to think they were creating an answer to a problem rather than worsen it.
My point was that like cream the stupid, though less than the total volume, have risen to the top.
I base that on a life where sectarianism has had little or no effect. But then again I never let others stupidity get the better of me.
I’ll be @ cqn11!
See you there!
Everyone dotes on Leftie. Tis the natural way of the world!
Night
HH Jamesgang
WITS-canny get a turn at all mate,any luck?
NegAnon2
23:36 on
15 January, 2015
Good luck with that!
If you are about this weekend, we are out for the Accies game for a few beers in memory of Kano
HH
CRC
Ashley has played this lot like a fiddle.
He’s big league, king and the three fluffy bears are rookies in comparison.
jimtim
23:38 on
15 January, 2015
surprising how all the numpties have the same view ;-)
CRC
My son and I are going to the game. Where are you meeting? We could jump off the train home before Clydebank. :)
HT
Weather permitting, I’ll be there. You know exactly what I mean. Hope you and the clan are well. :-))))
Weefra HH praying to Wee Oscar.
No way I’m going to CQN 11, I missed the first 10!!
Bada Bing
Doing ok,but every time I put a horse up here it flops
in that 1.50 at Lingfield tomorrow a horse called Final Drive is interesting
Has not run in almost 2 years
has a handicap rating of 57 tomorrow,has won off a rating of 92 in the past
If it is fit and runs to its potential…….
well in football terms its Real Madrid against Halifax Town
6/1
ItaliaBhoy
23:43 on
15 January, 2015
…and indeed maybe we are as well!
We have laughed in their failure and destruction and bhoy I have and do enjoy it.
I bill the next cup game as the Glasgow Giants to the newbie minnows, not this Old Firm nonsense, but I share TT worry that while we gloat MA might just have a cunning plan
I am anticipating that CFC to have a even more cunning plan and await their delivery
HH
CRC
sixtyseven.
Didnae work!!! Am just a daft old git who really appreciates you bothering with me. :-)))). Keep going, I’ll eventually catch up. Lol. Yer brand new buddy. COYBIG.
Weefra HH praying to Wee Oscar.
Delaneys Donkey
Be careful with that jumping off trains,
God be with the days of my mis spent youth,jumping on when the train slowed down,flinging off beer barrells and then jumping off before it gathered speed
All good clean fun
Beat
Me tae! :(
Might make an effort for11. :)
Winning Captains,
I appreciate your reply and I apologise for any offence taken. I read it back and I should’ve done better. It didn’t come out as I’d intended… lack of sleep and beer to blame :)
HH… -Tambo-
As a Celtic supporter of mature years, and someone who has seen great achievements and bitter disappointments over some near 6 decades, and witnessed some unbelievable events.. I have never lost my disbelief and puzzling bewilderment at my brothers and sisters in this great family of Celtic fraternity and fellowship, when it comes to the Huns across the water. We can smile and be righteous and proud of our club, our history and the work of our foundation, we can laugh at the Hun and their current predicament.. but, Scotland is a masonic protestant country, controlled by a masonic protestant regime, fronted by a masonic protestant media and fronted on the sporting arena by a masonic protestant football organization.. so any thoughts that the tax dodging, bill avoiding, N I contribution evading scrum will be buried in our lifetime, is delusional and fanciful.. We are still seen as bead rattling, bog trotting, tattie munchers, and them as the great Scottish institution. God Bless all my fellow Celtic Supporters.. I love you all dearly. K T F and HAIL HAIL.. Celtic forever.
AndyR53
Have they not suffered enough
Thanks to Ernie, whose earlier post about someone’s moniker led me indirectly to this classic Pete’n Dud sketch.
It’s not the Blane Valley, is it?
http://www.youtube.com/watch?v=hvQq_tqB0jA
Just seen Freddie Flintoff singing ‘In The Ghetto’ in the outfield during the cricket in Oz.
Absolutely brilliant. lmao.
Delaneys Dunky
23:47 on
15 January, 2015
Think I sent you an email
HH
CRC
WITS
We have stations in Glasgow these days.
You Dubs dae what you want. Nae rules or respect for authority. Loved working there. :)
Delaneys
I know you probably told me before but
what years were you in Dublin and where did you stay (Harolds Cross) ???
CRC
The lazy donkey has just opened it. Thanks. See you Saturday post match.
Ok ghuys, off to ma cot. Some people on here do ma nut in, big time.
Night Night Timland.
Weefra HH praying to Wee Oscar.
Weefrathe
Dont be getting all grumpy on us now
WITS-Ta ,will give it a try HH
Wits
That’s the least of yer worries. Hahahaha take care young yin. :-))
Weefra HH praying to Wee Oscar.
WITS
’99 2000 Tallagh. Mon the hoops!
MA’s cunning plan is to make as much money out of the Huns as he can.
To do that, he has tied up their merchandising, and advertising. He has also loaned them so much money and under such circumstances that he has effectively made himself their banker.
No-one else can now lend to them, unless they lend unsecured. In the event of an insolvency event, he is the main creditor. They want to start a Third Rangers? Fine, he has a stadium he can rent them…
As of today, he owns them, lock stock and barrel.
IMHO he will now insist they slash costs and operate like a proper football club, living within their means. Eventually, they will get promoted, and with a bit of luck they might even put a decent team on the park one day.
But MA ain’t going to sweat his little toosh to make that happen. He will keep taking their cash and keep making sure the club doesn’t cost him money. He doesn’t do moonbeams, our Mike…
This, of course, is intolerable to spivs like King, and to the bulk of their insane support, who believe the laws of economics do not apply to that small, benighted, corner of Kinning Park…
But MA cares not a jot about any of them. Not a jot.
DD
Sure there’ll be plenty going who hope you do!
ItaliaBhoy
00:05 on
16 January, 2015
Too true, and why can’t some see it, blue blinkers?
Beat
My daughter’s birthday is Saint Patrick’s Day.
CQN11 might be a nice birthday treat for my ghirl. :)
Bada Bing
For Dundalk tomorrow I was told Your Pal Tal is fancied in the first
In the 8.35 try a few bob each way on Glasson Lad,got a bit of word for this last week at Dundalk,didnt back it just watched,race over 2 miles,ran ok,moved into 3rd a furlong out but faded to finish 6th
Tomorrow it races over a mile and a half with a good young claimer taking off 10 llbs.
Its never won but it has been placed in several hurdle races and once on the flat,that was at Galway last July when it was 3rd behind a decent Weld horse and a neck behind the 2nd placed Little King Robin which went on to win 5 of its next 6 races
So maybe Glasson Lad could be worth a shilling each way
bobby murdoch’s curled-up winklepickers
21:37 on 15 January, 2015
MICKTT
Welcome to The Podium Pinnacle Society,Ayshire Glory Hunters section.
We’re a small and select crew. Congrats on passing the initiation.
₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩
I am in good company
Ayrshire is Green and White
DD
A wee night night my friend. Take care buddy. Cot now.zzzzzzzzzz
Weefra HH praying to Wee Oscar.