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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Huns secret agent in war against Ashley…
http://0black0acrylic.blogspot.co.uk/2014/02/billy-fish.html
A welcome positive start to the January window then
Welcome to the Celtic family Gary.
Mackay-Steven? Cue hun permarage at something double-barrelled in a Celtic shirt.
Achill-Islam- Gate all over again…..
C,mon GMS, Welcome to Celtic
Now we can get rid of derk, tonev, and wakuso:)
HH
HT,
Haha :))
So, let me get this right….
RD on the telly last night said that he’d like GMS in – this window.
Pete-the-piss-ripper says-you’ll get him in the summer.
RD cast as the latest in a long line of ‘puppet-managers’ under Liewwells watch.
Pete-the-piss-ripper….quarter of the bonus troosered – yous that pay to watch, can eat cake.
Baaaa
We really are as tight as a ducks ars*.
How much would the transfer fee have been? Really.
What salary have we avoided paying the Bosman by not signing him now?
I posted recently that this window would be a watershed for Ronny and the club and I stand by that.
More than half way through it and we have not added to the current squad. Will it be another 3 loanees in on the 30th of January or are the board going to grow a pair and spend a few bob.
Prove me wrong Celtic, pleeeeaaaassse!
Oh and anyone who thinks the league is certainty needs a good slapping.(:-))
And if we don’t win the league we could arrange a couple of friendlies in Gran Canaria.
(What the feck was that all about)
Away for my lunch.
A pre-contract welcome to the Hoops GMS.
A full welcome will be forthcoming when you actually physically arrive.
Until then…
much the same as it was yesterday. no foresight!
MWD said AYE
Reading some comments by the SMSM on twitter Re: sevco and Ashley
They must take responsibility for whipping the deluded into a frenzy before tonights game.
Shocking behaviour just to gain favour with the “Glib & shamless liar” and his crew .
I think GSM will be a great signing for us.
Pace and skill and can score.
Definitely worth trying to get him now in the window but , almost inevitably, that wouldn’t happen until the last minute of the TW (just at the same moment as big Jim White tells us something massive and positive but unspecific has happened at Ibrox).
Can I notify my intention to welcome GMS to Celtic in the summer? This is of course a binding welcome and can’t be withdrawn at a later date.
If GMS comes in and VVD goes, it will be a swap of one TLA for another.
Philbhoy,
I can’t see any more coming in until more move out.
Squad is bloated as it is.
leftclictic
Hell slap it intae them….hee, hee
Loving their pain.
They are so stupid, its laugh a minute stuff.
Zombie riot at ipox by the looks of it.
HH
TLA???
HAIL HAIL
Estadio
Je suis dead fish…
So how does Ashley and his Sports Direct stores deal with the sudden demand for tennis balls? Sell them? Hide them? Paint them blue?
The boy has pace, skill and can score.
Who does that in the current squad? Err, currently.
Financial markets in turmoil.
Tesco shares in freefall due to rumors of dead fish attack.
BlantyreTim
___________
If yer away coz ye telt folk on here that ye knew me and, have been down-laden with guilt ever since?
I’ll make ye a deal!
You come back on and – this time – I’ll leave and – never – return.
Your call – Hail Hail
Canny stand this kaffliky-guilt thing – CSC
LEFTCLICKTIC
Au contraire,I congratulate the MSM on their continued suckling of the bigoted teat.
They do so with the best will in the world,but are too stupid to realise that their efforts are having the opposite effect.
And on live TV too for all the world to see!
Theres that much fish at ipox….they must be immune to the smell.
Their stupidity has surpassed the height of absurdity.
They hate everybody…even themselves.
Hee, Hee
HH
None against us, of course, in this wee sample!
http://www.bbc.co.uk/sport/0/football/30842210
Are Zheng Zhi and Mo Bangura due back from their loan spells during this window?
TT thanks for that I fear we are sleepwalking into a dark place. The board needs to be reduced and shaken up, some new thinking. Some of the posters on here have got some great forward thinking ideas, you know who they are. H H Hebcelt
Philbhoy
11:55 on
16 January, 2015
The boy has pace, skill and can score.
Who does that in the current squad? Err, currently.
—————–
no one regularly.
HT
11:29
Point taken.Would not be to bothered if a new majority shareholder was sought.One who did not think a certain club still had a “Proud” history.
I imagine Dundee Utd will blink first and offer him for a fee before the windae shuts. Smart business on our part IMHO
GMS can still sign this Window,he has boxed DU into a corner now and are likely to take 100k rather than nothing .
the long wait is over
Surely worth a punt now?
It makes sense tae me!
Jig MaCoolick could get a bad dose of tennis elbow at the game tonight.
Here’sHoping CSC
We are not negotiating the transfer of a multi million pound player.
If we were, I would be happy with the who blinks first scenario.
We are talkin’ peanuts here.
Get it done Celtic!!
Bada,
I can see him arriving after their semi.
Hrvatski Jim
11:56 on
16 January, 2015
Financial markets in turmoil.
Tesco shares in freefall due to rumors of dead fish attack.
====================
CQN is no plaice for stories like this :-)
Philbhoy.
Absolutely – the protocols of negotiation mean , of course, that if DU are looking for £250k – and that may be and probably is guesswork on the part of the MSM – then we offer less and negotiate to a settlement.
Personally , given our lack of spark at the moment and fixture list I’d pay them 250k today to get him on the books to play asap.
KevJungle
11:48 on
16 January, 2015
So, let me get this right….
RD on the telly last night said that he’d like GMS in – this window.
Pete-the-piss-ripper says-you’ll get him in the summer.
RD cast as the latest in a long line of ‘puppet-managers’ under Liewwells watch.
Pete-the-piss-ripper….quarter of the bonus troosered – yous that pay to watch, can eat cake.
Baaaa
——————————————————————————————————————–
When you run a business you just don’t pay any price a supplier asks for – you haggle and do the best you can – Gary may be here sooner than later.
If some of the mugs who cause Celtic reputational damage and UEFA fines would grow up – there would be enough to buy FIVE like GMS in the kitty.
Git that dug aff the pitch!
http://www.youtube.com/watch?v=hLYMD6R6PvU
I’m not getting into the fish-fest. In fact this will be my sole contribution on the matter