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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Wits in,
Ronny IN.
Petec oot.
Don’t pick yer nose!!!
Greenpinata
22:17 on
15 January, 2015
Turkeybhoy,
SFTB rightly called up a poster for bringing the referendum into conversation outwith context. Your post also falls into that category.
We as in Celtic supporters do not need this prolonged division. IMHO.
HH.
Your honest opinion cuts no ice with me.Are you now the blog police?.Aye right.As for the gutless wonder that gave you a “Hear Hear”least said the better.
Fred Colon
23:15 on 15 January, 2015
Bob Malcolm on STV Glasgow ( Peter and Roughie’s football show ) sitting under a Lisboa 1967 poster .
I don’t think he realises .
=====================
Pur set-up, so he wis, cos Bob disnae speak Portuguese…
Italiabhoy
You’re right about their attitude to the laws of economics.
Even after Rangers1872-2012 had entered liquidation, the ManWithNoSurname still didn’t get it!
http://videocelts.com/2013/10/blogs/latest-news/walter-smith-what-else-can-we-do-but-lose-money
Neganon2
Sectarian. What is the difference between a Billy and a Tim.
An interesting read:
https://theinternetbampot.wordpress.com/2012/10/13/dr-stereotype-or-how-i-learned-to-stop-worrying-and-love-my-uniqueness-first-posted-on-tsfm-october-13-2012/
Weefra
Mrs W good I hope. You too lionheart. ;)))
GNGB see ya soon wee man. :)
DD
Sure she’d love that present!
Petec, Petec, spin us a tune!
Friday aff and on the ale accompaniment :)
kdc
22:55 on
15 January, 2015
TB
Call me a banger again and I’ll….lob bog roll at you or stop you pulling out of a bus stop. Grrr
I’ve wanted a 20 team top league for 12+ years. Cause this small league split p*sh, is p*sh, and been damaging the game here since it started
Banger was said in the nicest possible way.
WITS/DD
Harolds Cross mm
used to run a dug there
Lordsmayorselevencsc
Sandman
Muito bom!
WITS-Much appreciated,good luck ! HH
Ha ha, they use the surname in the link!
Exception that proves the rule!
Butsy
How you doing? Maybe bump into you again in Lanarkshire on Saturday? :)
Beat
You have convinced me.
She will love it, the more I think of it. Thanks. :)
Gotta go!
That bloody Jennifer Lawrence tap, tap tappin’ at the windae again!
bobby murdoch’s curled-up winklepickers
22:20 on 15 January, 2015
CAPTAIN BEEFHEART
Let’s,for a moment,agree that no particular set of fans is being specifically targeted. That the new law is fair and applies to all.
Why then do we see,for example,the infamous kettling incident and a Celtic fan being threatened with arrest for wearing a Free Palestine t-shirt,others being arrested for singing folk songs from the land of their ancestry?
Yet no-one batted an eyelid at the Armed Forces jamboree 15 months ago,as police officers all went on a tea-break.
Fair enough,we are not being targeted. We are merely being subjected to a more vigorous application of the law.
₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩₩
Do the Polis get a tea break at the fitba? Never seen that before. ..
Ayrshire is Green and White
DD
Nothin’ to thank me for, mate.
My late father was a St. Patrick’s day arrival too!
DD
I am fine
yes going to the match on Saturday
that would be good
Tallaghtbancsc ya bass
Every transfer window I get excited and I’m always optimistic, not sure why, but got round to thinking about the last time I was genuinely excited about a transfer window signing and it was Robbie Keane, even though that was a loan signing. ( I gave up on the marque signing years ago )
I’m a STH and have been for a long time even though I live a long way from Celtic Park but I’m a Coatbridge Bhoy and will follow Celtic for the rest of my days. After the Murrayfield Champions League qualifying disaster I was furious about the lack of investment and lack of preparation by our CEO and Board and said I’d never go back, obviously prematurely and have been back, however, I generally only go every other home game now as apposed to Every home game and my reason for this is simple, if the club won’t invest in the team then why should I ? yes I’ve already purchased my ST but I always buy from the Celtic superstore and buy within Celtic Park etc etc ( will I purchase a season ticket next year, probably not, unless my (our) money is spent on the team)
Maybe I’m just a bit fed up after watching the Jimmy Johnstone tribute night parts 1&2 in Bairds bar and listening to Jimmy talking about Seville and how fantastic the Celtic support were, knowing we’ll probably never get to that level again the way we’re going, or maybe I made the mistake of clicking on a link last week on this site and watching the 6-2 game and compared them to the present team.
If we felt GMS was good enough for Celtic then why didn’t we sign him before ? Are we looking at signing him now because we can sign him for free in the summer but don’t think he’s worth £250k now ? Squad player at best, sign Armstrong if you want goals, assists and want to improve the team
I know there’s still 2 weeks left of the transfer window and things may change, but if Ronny isn’t backed in this transfer window then he’s finished and should pack his bags now, I fully support Ronny even though he’s made some strange decisions but he’s being hung out to dry if there’s no money to change the team, I don’t believe for a minute Scepovic was his signing and doing think we’d have signed him if we’d got the JG signing over the line earlier, I’m not sure what attributes Scepovic has apart from making decent runs, and even then he generally can’t finish !
Oh and to finish my rant which is rare – if Kris Commons isn’t given a 2 year deal and a position on the coaching team its a disgrace.
I’m normally a happy clapper but the current team is probably only slight favourites to win the league, maybe 60/40, 2 games in hand is usually 6 points but who would bet their house on that ?
We sold FF and TW for around £11.2 million minus Newcastles cut, why are we not spending it on improving the team ? We also know we’ll be bringing in around £10 million for VVD so why are we not strengthening the team now for the league challenge and hopefully the Champions League Qualifiers ?
Bonus payments to our CEO and shareholders must be directly linked to achievements of the football club not selling players and replacing them with cheaper options to show a profit.
scunneredwithhowfarwevefallen.averageteam.com
Delaneys Dunky
00:24 on 16 January, 2015
Petec, Petec, spin us a tune!
Friday aff and on the ale accompaniment :)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Ronny Deila will be Loving this excellent challenge by Aberdeen, hopefully Dundee Utd, Hamilton and ICT also.
Aberdeen are the ones showing they have a real determination and are Rebuilding well again.
I’m over the Moon about the way things are going in Scottish Fitba, obviously the Acid test is getting the big Clubs into the European Competitions proper, obviously the ones with a proper European pedigree. There are a few big Clubs in the 2nd tier that should come back a lot stronger, there’s also a Club that is Tormented, it will always be tormented because the Scottish people, I’m talking the lowly Supporters, have WITNESSED it all from the start to whenever the end comes for that shower.
A bit of humble pie is beyond them.
Butsy
My son and I will be in the Railway Tavern fae 11, if ye fancy a beer?
BOOM
The Monkeys r fecked
what the hell do we care now
Hail Hail
DD
our bus wont be leaving C/nauld be fore that.
will probably see you at the game
HH
Goodnight….takes ages to read back
HH
magnificentseven
23:45 on 15 January, 2015
Dear o dear mate just my opinion . And for the record I hope I am wrong and you are correct .
Butsy
Nae probs. Fast direct Scotrail for us.
MickTT
00:54 on 16 January, 2015
Goodnight….takes ages to read back
HH
__________________________________________
It is impossible. I tend to just scan certain times, through the week. I know I miss out a lot, Hey oh.
Tiny Tim,
If Ashley or anyone else runs them in a fair and legal manner…then bring it on.
Cut out the cheating and we will take our chances with anyone.
Hail Hail.
Petec
I love RHCP. Hey ho! Magic. :)
Fred C. Dobbs
01:03 on 16 January, 2015
Tiny Tim,
If Ashley or anyone else runs them in a fair and legal manner…then bring it on.
Cut out the cheating and we will take our chances with anyone.
Hail Hail.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
A Carpenters Son
Money is RUINING Fitba.
Keep the Faith.
petec,
You’ll do Ron Ron :O).
Ronny is Strong and God Sent, IMHO.
I don’t get it.
Why does Ashley have to stump up 10s of millions to get security over Ibrox, when 3 years ago he got have got the whole lot for a pound.
????
Fred C. Dobbs
01:12 on 16 January, 2015
petec,
You’ll do Ron Ron :O).
~~~~~~~~~~~~~~~~~~~~~
I really appreciate that you don’t ever Capitalise my p. I’ve even started Petec ing things, not good.
:)))
Goodnight Fholks ….!!!!
Evening fholks,
I’m skimming through today’s posts (currently on page 7), so forgive me if I’m repeating anything.
I won’t offer any comments on 67Heaven’s repeated pigeon-holing and dismissal of posters who have concerns on the many current issues facing the club, as “negatonians”, while repeatedly trying to lump such posters in with the MSM, except to say, when he first started posting here, I thought he was a circa 14 year old boy. Now, it seems he’s an authority on everything.
Anyway, the idea of gate-sharing was being pushed here not too long ago, not long after hunmaggedon.
Seeing it being pushed again worries me a bit.
In my opinion, only one club will benefit from gate-sharing in the Scottish football. You don’t need to be a rocket scientist to see that. Sevco Numero ## would excel at the expense of our own club, thanks to the SFA, MIBS, more financial cheating, etc etc. I would expect that the revolt against gate-sharing would then be started after the damage was done. This is an “open your eyes” one, for sure.
I’m all for equality, level-playing fields, charity, but this can’t be an approach for us to take knowing where we stand in Scottish football.
So why would anyone suggest this? I expect ole Jabba and Jack would be keen on it, though to be fair I haven’t heard them say so publicly as I don’t go out of my way to listen to them. Although it is interesting this idea is back in the arena at the same time as them.
Finally, to 67Heaven/ Alfie Noakes/ TD67 and your supporters, who seem to many on CQN – I still find your position baffling, although I try, without success, to respect it. But if one of you can justify this position (ie, that we shouldn’t share concerns on CQN about the current board) while answering a simple question, I’d be most grateful:
Who is more important to Celtic? The board or the supporters?