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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Whats happening….nae bampots on?
HH
Bye.
Kev our leader – when is the revolution starting – what with the snow and all?
Tumbleweeds in a ghost town
HH
When I think back to murray’s £50m share issue, I smile at the assumption this latest proposed share issue is going to be successful …… If they didn’t buy them then, they are certainly not going to buy them now (amidst the current meltdown)
PFayr @ 07:14,
Me neither, I never did understand that approach. I remember well the debates here at the time regarding Mibbery, and am already seeing it here again; concerns about it are being ridiculed and dismissed, concerns about the forthcoming game against Sevco and the likely events surrounding it, being dismissed. I think “fearties” was one of the words used.
What a chance we had to do something about it in the past 5 years, before those who post here with such short memory had occasion not just to forget it, but to ridicule those of us who like to keep an eye on it.
Back to square one it will be, and the mibbery will be more fervent than ever.
Because a board that puts pound signs before the long term health of the club and the welfare of its supporters, know that a common enemy for the support, in the form of hunnery, mibbery and a spiteful media, will mean a more defiant, ticket-purchasing support.
When you add it all up, there really is going to be a lot of unpleasantness around this game against Sevco. It will suit everyone poltically and financially, everyone except the Celtic supporters. And of course, there will be bitter debates here afterwards (stirred up by the usual agitators), and so, yet more division amongst us.
scullybhoy
09:13 on 16 January, 2015
He’s going to bring his soap box to the next game …..oh no, wait …. !!
67Heaven
It would cheer me right up….if the meltdown is final.
Totally loving their pain, and of course Hearts might give them a beating tonight to make things even worse….hee, hee.
But….you just know that there will be honest mistakes at the ready.
Still….we may get a bigger laugh yet when sevco self-destruct.
HH
ffm – i’m the only conspiracy theorist in the village)
09:26 on 16 January, 2015
PFayr @ 07:14,
Correct …… There is no way we should be going anywhere near hampden…….
It looks like big VVD is now an unhappy bhoy if the stories in the media are to be believed if it were down to me I would sell him to the highest bidder and use the money to strengthen the team.I see also Rony saying he is a winner this morning and I wouldnt expect him to say anything else so I say go show them Rony. H.H.
The Green Man. I think this could be the night Hearts get at least one player sent off and the Rangers get at least one penalty.I am sure the script has already been written.H.H.
the green man
09:28 on 16 January, 2015
The main objective is the attainment of truth and justice ……. they got away with their nonsense for far too long ……our day has come …..loving my football these days
joe filippis haircut
09:32 on 16 January, 2015
I don’t actually think so ……… The honest mistakes syndrome has been scuppered ..IMO … :)
Joe F
He’s quoted as saying
“I understand the attitude of the club and see it as a compliment they do not want to let me go.
“But we must be realistic. If a nice club from England comes in we must sit down and discuss it as I would also develop as a player.”
I’d tell wenger to get his cheque book out and write £15m on the page. Or tell VVD to wind his neck in.
HH jamesgang
joe filippis haircut
09:30 on 16 January, 2015
I’m sure you treat the media frenzy during the window with ‘a pinch of salt’
JFH
Lets see how it pans out….traditionally, when they are in trouble, the men in black do their voodoo, and hey presto.
Its a long held tradition at that.
HH
Does anyone know if theres a pitch inspection for tomorrow ? Looked in really bad nick on Tuesday
HH
I recall a few years ago on here, being branded as someone who was on to coz bother?
Well, I’ve always looked upon the Celtic situation(specifically) as having the bother already there – to be cozzed.
To cut a long story short…Celtic FC will – always – be the underdogs in protestant/anti-Celtic Scotland – ALWAYS.
We will always be the minority community – like it, or lump it.
But, if there’s a will – there’s a way.
The will has to start at the top of the house – or it wont work.
No rebellious-uppitty-Tim-Celtic supporters on the board = failure.
It’s as simple as that.
So, who’s next in the queue to shaft the Celtic(sheep) supporters?
…..feck this…..bye.
blantyretim.
I’ll be in the Blane Valley around 2.05pm God willing.
I was on a train last night and overheard two fans of the dead club talking about the semi final. One had bought tickets and was wondering if he had done the right thing as, “it could end up 7 – 0 “. They had no confidence at all about the result, until the other suggested that they had a chance if we got a player or two sent off early on.
Now what were we saying about the choice of referee being important?
Celtic must have known that VVD was hankering after a move and certainly my interpretation of his comments which I saw yesterday would suggest that’s what he’s doing.
Whether he’s here at the end of this window is immaterial he almost definitely won’t be here after the summer.
We should be thinking ahead. VVD should have been sold this window and a suitable replacement already lined up, signed and off to Gran Canaria for the break. That would give the new acquisition the rest of this season and next season’s pre season training to bed in.
Instead we’re going to be in the now familiar position of selling one of our best players in the summer and then left either scrambling about for a ‘suitable’ replacement or going with what we have for the CL qualifiers.
It’s a desperately short sighted policy.
NB All of this of course is based on the assumption that we’re going to win the league.
67Heaven @ 09:29
“There is no way we should be going anywhere near hampden”.
On that issue, I’m in complete agreement with you.
….PFayr
07:14 on
16 January, 2015.
Spot on with that comment.
I’m with HT
The strength of the squad for the ECL qualifiers will be determined by 1st February.
If VVD isn’t part of that plan, move him on now, and get the squad primed for July and August.
Way I se it, unless we cut another deal with City, Denayer won’t be around by then either.
We need a new central defence in the next fortnight.
Go get.
Gordon J
Madden will have a chance to get some practice in tonight, we’ll see what happens
HH
These sevco idiots must have been under the impression that Big Mike is daft.
Their stupidity is amazing.
Im totally wallowing in their pain….their reaction to the metro article was unbelievably funny….one female hun spat the dummy out, insisting….there is a old firm, there is.
Their pain, keeps me going.
HH
Maidin mhaith.
The young lad was well pleased with his birthday present (a trip to watch the famous Glasgow Celtic play Inter Milan).
Life is good.
Árd Macha
TBB
The dilemma is that with a January sale of VVD we decrease our chances of winning the title.
árd macha
Good stuff he’s a lucky Bhoy.
Hope the match is on tomorrow, we can ill afford to have anymore fixtures backing up.
What’s the weather forecast?
Árd Macha
HT,
Cheers. Hopefully we’ll get a performance from them, after the Ross County debacle:-)
He’s learning that following the Hoops can be a heart breaking experience at times.
Now for his first European night.
Árd Macha
Hamiltontim
09:48 on 16 January, 2015
Celtic must have known that VVD was hankering after a move and certainly my interpretation of his comments which I saw yesterday would suggest that’s what he’s doing.
Whether he’s here at the end of this window is immaterial he almost definitely won’t be here after the summer.
We should be thinking ahead. VVD should have been sold this window and a suitable replacement already lined up, signed and off to Gran Canaria for the break. That would give the new acquisition the rest of this season and next season’s pre season training to bed in.
Instead we’re going to be in the now familiar position of selling one of our best players in the summer and then left either scrambling about for a ‘suitable’ replacement or going with what we have for the CL qualifiers.
It’s a desperately short sighted policy.
NB All of this of course is based on the assumption that we’re going to win the league.
————————————————————————————–
Agree with all that. The timing of our signings is all wrong. Why? I suspect decisions are entirely beancounter-based with little regard for the implications on the team.
Surely even this board wouldn’t jeopardise another season’s CL qualification by avoiding reasonable investment? It’d be beyond reprehensible, but then, it wouldn’t surprise me altogether. Very very strange if it does happen again.
Surely the priority this month is to ensure we’re going into the summer qualifiers strengthened; not weakened again, panic-buying at the last minute, and pageing an SFA carrier pigeon to collect the registration documents and drop them down CO’s chimney.
The Green Man
09:53 on 16 January, 2015
These sevco idiots must have been under the impression that Big Mike is daft.
Their stupidity is amazing.
Im totally wallowing in their pain….their reaction to the metro article was unbelievably funny….one female hun spat the dummy out, insisting….there is a old firm, there is.
Their pain, keeps me going.
HH
——————————————————————-
Yup – entertaining stuff yet again. On the subject of stupidity – I’m more inclined to think of another word. Deference. They seem to have a glut of it over there. It’s part of their culture not to challenge.
67 HEAVEN. 0935
I remember an early televised Celtic v Rangers game. I was staying in London at the time,watched it with a bunch of good English mates.
They loved it,the passion,the intensity,the good football at the time,must have been about 93 and mibbe a one-off re the good football,haha!
Anyway,they really could not understand how the ref was allowed to get away with some-many-of his decisions. I said it had always been like that,but with live TV,they’ll realise those days are gone and they’ll get caught out.
Now I had the naivety of youth as an excuse to believe that the honest mistakes syndrome had gone.
What’s your excuse?
Virgil should be fined.
Im sure if a club comes in this month with a good offer celtic will listen.
What ronnie is saying in the press is obviously what most managers say about their best players..when asked the question he cant really turn around and say well yeah if good offer comes virgil can go.
The media would rip that too bits and they fans would be straight onto ronnie complaining.
Big dopey virgil should realise this and celtic should have told each player their position before the window.
I believe they nicked the headline from Twitter but nevertheless made me laugh, which given I’m recovering from a hernia op was very painful:
” today’s the day the teddy bears have their pitch nicked”
Sorry…daily record headline.