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.
1,145 Comments- Pages:
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Alfie Noakes
11:12 on 16 January, 2015
_______________________
Git it roon ye…..nitpicker, hmmmm.
The SAS and fish?
Dali would have been proud of them
———-
Or Edward Lear !!
Looks like ole BT has played the right card.
laters…..
bobby murdoch’s curled-up winklepickers
10:04 on 16 January, 2015
I have no excuse at. all….. hahahahahahaha …….. (But I will be back to normal when I get back to work on Monday ….no well the noo, so not thinking straight … hahahahahahaha
jonnyrambo67
11:09 on 16 January, 2015
Neither of us know if any offers have been made, however, it’s pretty definite that the guy sees his future elsewhere.
Shouldn’t we have shown some forethought and identified a player to replace him now as opposed to leaving it to the last minute in the summer yet again when we know he’ll be gone?
Hebcelt
I’m sorry to hear that.
Alfie Noakes
I don’t know what you are trying to prove….but its no working.
All you are doing, is winding up good Celtic supporters.
Leave it out….its boring, and you are acting like a hun.
Give us a break from your so-called intelligence.
Lots of tennis balls on the pitch would make it dangerously unplayable.Cue game being abandoned and Hertz being given a win.
Ace !
Hebcelt
When loyal Tims like you lose interest it is time somebody at Celtic woke up.
The product on the park is dismal.
The standard of player abysmal.
We have fallen so very far.
TT
HT,
Celtic will have identified 10 replacement centre half for Vvd by now.
8 or 9 will turn out to be worse.
It’s just a matter of getting the right one which admittedly hasn’t always been happening.
Shaun Maloney only looked small because he was far away.
https://www.youtube.com/watch?v=dS12p0Zqlt0
HT
I’ll be up at Dingwall.
Really looking forward to a great day out.
TT
GM
Come on now let’s be serious :-)
Yes, like you, I’d have loved VVD to stay for now and for us to have brought in his replacement just now to give him time to build up on and off field relationships but that was never going to happen.
In my first post I did say that my points were based on winning the title and that’s not a racing certainty at the moment.
However, we’re following what is becoming a well worn path where we make it more and more difficult to qualify for the CL proper.
As I said it’s incredibly short sighted.
I’d be somewhat surprised if Arsenal ponied up the kind of money being gossiped on here for VVD. Not because Arsenal don’t have it, but because, beautiful as he is, Virgil just isn’t that good a footballer.
Martinez might punt £5M on him, but Wenger’s team plays at a higher level altogether, and I’d be surprised if there was any material interest in Virgil, let alone a record breaking bid.
Hamiltontim
11:17 on 16 January, 2015
jonnyrambo67
11:09 on 16 January, 2015
Shouldn’t we have shown some forethought and identified a player to replace him now as opposed to leaving it to the last minute in the summer yet again when we know he’ll be gone?
_____
Ye see…if Celtic was a properly run/managed outfit, you wouldnt have to endure what you do.
If Celtic was a properly run outfit – would the stadium be half/empty?
Would the fans be sitting on nettles – scared to sing?
Would the product on the pitch be in the ko stage of the CL?
If ye reply – I’ll catch you later.
Hail Hail
laters…..
HT
09:48
PL is as big a Celtic man as the rest of us, supporting Celtic man and boy, hailing from a scheme in Glasgows southside.His dislike for Them is the same as ours.
This is what really scunners me when we watch the standard on the park drop and the continual selling of our best players.
TT
We’re making a weekend of it and are staying on the Friday and Saturday nights.
Should be good!
Celtic Football Club @celticfc 2m2 minutes ago
Celtic sign @Gary__11 on pre-contract agreement, http://www.celticfc.net/news/7478
So the old stadium is being flooded to the tune of the Dambusters as the tribute act die a slow death in front of all. With all this free flowing destruction being played at an x-stadium called Ibrox, why is it the news that stopped me in my tracks was ‘they are going to buy fish on a Friday’?
Celtic sign Gary Mackay-Steven on pre-contract agreement
By: Newsroom Staff on 16 Jan, 2015 11:19
CELTIC are delighted to announce that Gary Mackay-Steven has signed a pre-contract agreement and he will join the club this summer.
The 24-year-old made his first-team debut for Dundee United back in July 2011, and he has gone on to make almost 130 appearances for the Tannadice side, scoring 27 goals. He has also been capped by Scotland.
Everyone at Celtic welcomes Gary to the club.
TBB
I think he’s a smashing footballer but he (and clearly many Celtic supporters) think that he’s better than he is.
I reckon we’ll get £10m at most for him.
bobby murdoch’s curled-up winklepickers
10:27 on 16 January, 2015
PEDROCARAVANACHIO67
Ah,the hit-and-run one-liner.
A thing of beauty,if I may say so!
——-
‘Twas comic genius indeed!
HH jamesgang
Hamiltontim
11:17
Shouldn’t we have shown some forethought
————–
Maybe we have, maybe we haven’t :-)
The board haven’t give us much reason in the past to believe they’re on the ball with this, so it’s hard to give them the benefit of the doubt, but given we could do with another CB anyway, it would be gross incompetence on their part not to have a range of targets to replace him. Assuming they have, whether those players are available now or in the summer, only time will tell.
JOHNNYRAMBO. 1109
I posted overnight that Tom Cleverley of Man Utd is expected to leave in this window for £7m.
As otherwise he can leave for free in five months!
Madness. And utter madness for us to rate VVD at £8m-or even £10m.
Ffs,I think back three years and recall Nevin on R5 referring to Jelavic as a £15m striker,he’s that good.
Aye,when allowed a yard or so leeway and no contact needed for a penalty.
Same applies the other way with VVD. In a properly regulated league-and with good coaching on his concentration-he will be a star. But staying with us,I reckon he’s just going through the motions.
judester
I’m on record as saying that PL was and is a Celtic supporter. He’s not the only one at fault for the short sightedness.
Welcome to the mad hoose Gary.
Well Maloney transfer is off I hope that doesnt put us back in the frame GMS is signed but wont join us until the summer ( I am sure there will be further developments ). H.H.
The Green Man – obviously you don’t like me – I bet you would cross the road if you seen me – I ALWAYS do when I see you – although is all that flashing really necessary?
ONE NIGHT IN GOA
The midnight sun beyond the palms
As angels sing seriphic psalms
Behind the sea’s Our Lady blue
I hope the catechism wis true
But in my ears the strings are picked
The heartstrings plucked, the plectrum flicked
Outside the Kite soars with magic wing
And here….Sultans of swing
And now I’ m back and feel a kiss
From eyelids, lips….feck me it’s bliss
One more caress, this lass is boulder
Awe naw! It’s fly shite on my shoulder.
–
–
I think it should be called a pack of flies.
Hail hail
Estadio
pedrocaravanachio67
Good call.
Every day is Poisson d’Avril at £1brox
jonnyrambo67
11:28 on 16 January, 2015
Hamiltontim
11:17
Shouldn’t we have shown some forethought
————–
Maybe we have, maybe we haven’t :-)
The board haven’t give us much reason in the past to believe they’re on the ball with this, so it’s hard to give them the benefit of the doubt, but given we could do with another CB anyway, it would be gross incompetence on their part not to have a range of targets to replace him. Assuming they have, whether those players are available now or in the summer, only time will tell.
——-
But that’s my point Jonny. If we know that VVD is going why not plan ahead to ensure that his replacement is here now!!
“Challenging the Actions of a Sport Governing Body” by @LawTop20 on @LinkedIn https://t.co/QV7iQjACM8
Welcome to the best club in the world Gary.
Hail Hail
“Welcome to the best club in the world Gary”
HT,
You know that’s what I meant eh? :))
67 HEAVEN
Sorry to hear of your health travails,old bean.
Even more so that yer fascist moneygrabbing fascist bassa employer expects to see you back on Monday.
Just be careful you aren’t going back too early. That can set you back rather badly,seriously.
Alfie Noakes
I don’t know you…so how could I dislike you?
Anyway….if you would stop pretending that you rule the world, and mellow a bit.
You might find Celtic fans happy to debate with you, but arrogance isn’t a nice trait, and that’s what I dislike….your arrogance.
As for your claim of superior intelligence….that’s just silly, because I know loads of posters on CQN who could school you on any subject….myself included.
So….maybe if you took a different approach, you might not get pelters.
Natknow
Gary Mackay-Steven, (or ‘Big G’, as Shauny calls him), is 1.75m tall.
GM
I thought you were welcoming him to CQN :-)