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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They will be selling The Big Issue outside Ibrox,instead of programmes….
JonnyRambo67
Good post.
——
£5m a year in rent seems like it would be an awful struggle for a club/holding company.
There has to be a point where the owner of Ibrox would decide it would be more profitable to use it for a means other than a football stadium, say, for example, a supermarket or a huge storage unit for sports supplies. Espeicially if the supporters of the club/company were to boycott match tickets…
They really are in the worst state imaginable.
JonnyRambo
‘ A competitive league brings an edge to games, but look how many on here have thrown the toys out the pram because Aberdeen have the temerity to raise their level and provide a challenge
…………………………………………………………………………………………………………………..
A fair post Mr Jonny although Im not sure how much this season has to do with the Dandy Dons improving or the Glasgow Celtic falling away.
(probably a bit of each)
But like i say a few very valid points. Our place in the food chain is rapidly diminishing and as a club just now I believe that fan apathy is one of our greatest threats……..
Quadbhoy
Things have become so complex that I doubt restitution is a viable solution.
Imagine a tub of “Hundreds and Thousands”. Spill them out onto the floor. Now put them back in the tub in the same order and position they were in before you spilled them.
The Worthington/5088 claim in any event is that they were entitled to buy the assets, indeed obliged to, not that they did. They claim their rights were unlawfully novated to another party.
Their purported claim is for compensation. I would think it extremely unlikely that there would be any retrospective transferring of assets. The situation is now virtually impossible to unwind.
Until and unless they put it in front of a judge, it’s moot though. Put up, or shut up time.
GM-To be honest,it’s the way we sell the Club to potential signings.HH
PeteTheBeat 13:29 on 15 January, 2015
Tin hat on.
Would it really be such a disaster for Aberdeen to win the league ?
Yes – we would miss out on CL football but as things stand, I don’t think we’ll get through the qualifiers anyway.
It would really revitalise Scottish football and give teams like Dundee Utd and Hearts encouragement.
—————————————————————-
Personally, I am quite relaxed about the prospect of Aberdeen (or Dundee Utd.) winning the league. We have no divine right to win anything even though there is a massive gulf in our resources and those of the best of the rest.
Clearly, those in charge of the club have taken a different view and emabarked on a downsizing project which now opens up the possibility that we may not win the league. Over the last few years, the club has become complacent with regard to our domestic opponents and increasingly dismissive of its own supporter base.
As a consequence the club has failed to win as many domestic trophies as it should have (not a single treble in a hun/zombie free league is a disgrace imo), presided over an alarmingy drop in the quality of footballers on our books and suffered a massive decline in attendances as supporters take unbrage at being taken for a ride by the board. Perhaps Karma is not only interested in huns?
Turkeybhoy – I absolutely agree that we need to do something re the centre half issue.
I guess priority for Ronny may be getting Denayer tied up for another year.
As for the boy Denswil at Ajax, he had baggage by all accounts and ended up in Belgium. Very few players who consider there career in the ascendency go from Ajax to Belgium. I think we dodged a bullet there and would credit the staff for not signing him.
This new Dutch target looks a clever signing as does the boy at Brescia. Another that I liked the sound of was the boy Kara Mbodj who was linked previously.
The problem is Lazio, Everton and Newcastle respectively.
I’m sympathetic to the club, it’s very hard to get these signings right.
traditionalist88
13:30 on 15 January, 2015
VERY diplomatic …. Hehe
67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors
13:48 on
15 January, 2015
traditionalist88
13:30 on 15 January, 2015
VERY diplomatic …. Hehe
====
:)
Lets get the league wrapped up:)
HH
Monaghan1900
Just looked at SOS facebook page cant do link but 59 comments and rising about a protest tomorrow night ,they are leaving the pub half an hour early to get to the front door.
Turkeybhoy
Lol!
Have u emailed thelouden yet?
B-)
Bada,
Very good chance.
I know that some players are occasionally pushed.
Vvd won’t take much of a shove.
Tom McLaughlin
13:00 on
15 January, 2015
50 Shades –
I went online yesterday and North Stand was already sold out.
I took East Stand row AAA. I presume that is way up high.
Tom,
I called the ticket office a couple of hours ago and they told me they were only selling the east stand just now. I was told to call back in the morning and the north and south should be on sale then.
“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.”
Paul67 are you refering to the various Fan Ownership deals that are currently ongoing or just been agreed to? por cierto
So it’s the old sale and leaseback scenario many suggested would happen way back when.
Many questions spring to mind but one in particular.
Who will be responsible for the millions required for repairing Ipox, can’t see big Mike as Landlord taking that hit too?
HH!
bhoywithseethrougheyes-I phoned 0141 2301967 on Tuesday ,and got a South Stand ticket mate
Have you ever scored a goal like this?
Ellboy: ‘Who will be responsible for the millions required for repairing Ipox, can’t see big Mike as Landlord taking that hit too?’
===================
Ian Black will do it, mates rates;)
HH
Turkeybhoy
13:42 on 15 January, 2015
The SOS wee protest is for tomorrow leaving fae some where called the district bar :)))
DIVIDED THEY FELL
Till later all
JonnyRambo67
Good post.
I think one of the major issues is the size of our league.
If you stay at Celtic or 5 years you will have played at Pittodrie barring injury and suspensions about 12 times with league games and maybe a couple of cup matches. You will have come up against mostly the same players 20+ times in 5 years from that club. If they are going through a good patch we will meet them in the cup probably at least once a season.
If the top 6 doesn;t change all that much it’s the same for all the other clubs. Scott Brown for instance probably knows some of his direct opponents better than his team mates.
This leads to play boredom. How we held onto Henke so long is truly remarkable.
We need a bigger league. The early rounds of the league cup should be regionalised to create derby matches to increase the attraction to it.
A bigger league would allow 2 games per season against each club. One visit home and away. It would allow the bigger clubs like Aberdeen, Dundee United, etc a chance to go on a run which would get their fans in the doors because every wants to watch a winning team. In turn the majority of the current premiership established clubs at the minute have the security of not being relegated due to their pulling power for players and also their fan base giving them an advantage over the smaller clubs. Looking down the leagues there are some fairly big clubs in the lower leagues an they can add somethine to the top league.
A bigger top league would add some variety to the fans who are pretty much bored of the same clubs year in year out and essentially the same tactics. In the last 3 years a number of clubs have started to play football on the deck and entertain which should be lauded but more will follow suit if the threat of relegation is not faced by a 1/4 of the league.
Change needs to happen and if they can agree on a bigger league say of 16 clubs it’s an ideal chance to change the pricing structure and make it cheaper for fans to watch the action and also agree a better TV deal.
With 32 games we can also factor in a winter break around this time of year and allow our clubs to set up some friendlies abroad or even set up some sort of indoor tournament for the Youth teams or something that the fans can go along and support if they choose to.
I am amazed that the British leagues still have this we don;t need a rest mentality when the most of Northern Europe virtually shuts down for at least a couple of weeks for a break.
At times our thinking is backward and we have an attitude of that’s how it’s always been when we should be looking at the basics. I’m sure the English would have fared better at the world cup if they had a break for their players to recharge their batteries rather than risking injury in the worst weather of the year.
I watched Wanyama pull up with a hamstring injury last night 48 mins into a game. That would not have happened in warmer weather I suspect – Not an expert on the subject but Southampton have a real injury crisis on and it appears this is the time of year strains and tears happen in muscles. May be coincedence. Happy to be proved wrong.
LB
LiviBhoy
Cheers
That has the potential to be a messy weekend!! :)
Newco, oldco, sevco, tesco
guernica
13:48 on 15 January, 2015
Correct ….. It IS, indeed, very difficult for the Club, or any club, to get signings right…….there are so many factors to consider, but it’s all part of the excitement, and a ‘good excuse’ for the negatonians / bigoted media if CELTIC don’t get it right……and ……. They don’t mention the one’s we get right (can you imagine how Henrik would have been ‘received’ if he had dined for the oldco …… Bless them
Sos?
Och just got it
setting free the bears – I have never scored a goal like that.
I did try moonwalking on a rugby pitch once. Nearly broke my ankle. :(
Never moonwalk wearing boots with studs on them. Leave that to the professionals, such as Michael Jackson. Or to a lesser extent, Bruno Mars.
(thumbsup)
SFTB -A guy in England used that throw in years ago,pretty sure it got banned,if the GK leaves it,it would have been a bye kick
#youaretheref
scottishleaf
The people who are attending will ensure it is messy.
Galway won’t know what’s hit it!
LB
Sons of Satan…..;]]
traditionalist88
‘Ian Black will do it, mates rates;)’
joe_joe_john_bobby_teddy
‘Newco, oldco, sevco, Tesco’
Just spat my tea out………………twice lol :)
leftclicktic
14:01 on 15 January, 2015
Leaving from a bar, presumably a March, or a walk if you prefer. that crew love a walk
P67
What clubs? Who would choose that? Or are you in prediction mode again looking South of the border?
!!Bada Bing!!
13:58 on
15 January, 2015
bhoywithseethrougheyes-I phoned 0141 2301967 on Tuesday ,and got a South Stand ticket mate
Cheers Bada,
will give them a call again
Ronny Deila and Commons saying inroads being made for new deal . Still a bit to go , here’s hoping
LiviBhoy
I agree that a short-ish winter break is a good thing. However we are not a country that suffers long cold snaps at predictable times of year. Our problem with hamstring injuries like that of Big Vic is more due to wet rather than cold conditions :-
“It is interesting to note that professional footballers in the Premiership in the UK suffer almost twice as many injuries as their fellow professionals in Spain and Italy, but the cause is more likely to be foul weather than foul play. A UEFA study has found that players in northern European countries pick up major injuries far more frequently than those in southern European nations. Major injuries were defined as those causing a month’s absence and those affecting joints and ligaments. The study was led by Professor Jan Ekstrand, and supports the hypothesis that climate affects injury.
Playing football in the rain
A cold and rainy climate with subsequently poorer playing surface conditions may increase the risk of traumatic and overuse ligament and joint injuries. Although football pitches resembling sand-scattered mud baths and players struggling to play are largely a thing of the past, during the winter months playing football can still result in injury because of the condition of the pitch. For example, if football pitches are frozen and therefore hard, players can become injured from direct contact with the ground as well as suffer from increased foot, ankle, knee and back damage from the high impact caused by the pitch itself.
Hamstring Anatomy
When pitches are wet and muddy players can suffer injury to the ankle and knee from slipping or sliding or ligament damage and overuse tendonitis from the strain of constantly dragging their feet from the mud. In addition it may be difficult to stop and change direction effectively, increasing the risk of collision. It is important, then, to always consider whether the weather and surface conditions are conducive to playing safely, to wear proper boots with removable studs and to carry spare sets of different length studs to suit the conditions.”
Delighted that the Metro printed that letter this morning. You wonder if that would have happened had all the controversy about the Statement in the Sunday Herald not happened over the past few days.
Noticed that Donald Findlay was coming in for sustained criticism on their boards – which he seemed to avoid at the time he was interviewed – because he was quoted in that early draft. Alloa was also taking some stick for socialising with CQNers (CQN 5s night out) in a restaurant rather than spending time with bears.
Tamrabam
13:47
Im not sure how much this season has to do with the Dandy Dons improving or the Glasgow Celtic falling away.
(probably a bit of each)
———-
If you’re only comparing us to last season then yeah we’re nine points worse off, which is used as a stick to beat RD down. However, that was by far Lenny’s most consistent league results, in his 4th year. If people give it a little perspective then RD is right around the average over the last 9 years.
Aberdeen how and ever, are 5 points better off than last year, widely regarded as their best in 20 years. They are 3 points better off after 21 games than in Lenny’s title winning 3rd season. They have the same points after 21 games as GS’s title winning 3rd season. 8 on the spin without conceding is impressive, credit where credit is due.
As for Aberdeen winning the league, is it good for the game? Yes and no. Yes as obviously been 30 odd years since a team outside Glasgow has won it. No because as an unseeded team they’d have virtually no chance in the CL qualifiers. If we could get Scottish teams raising their co-efficient as well as the countries, back to the days when we had a team straight to the group stages and another in the qualifiers, then a team like Aberdeen could really reinvent themselves with CL money.
Fat chance of that whilst their 1st competitive games of the season are in Europe. Start the league on the 1st July, have a 4 week break after the new year fixtures. Seems blatantly obvious that it’s worth a try.
Well I have finally taken the plunge.
She’s got the potential to be a wee beauty.
I said I’d never do as I’d need to be fully committed.
I want to make a real go at it.
All you ghuys and ghirls are hereby invited.
Follow me on twitter @IGCeltic