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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FFS
Seen it all now on CQN, it may not be a bad thing to lose the league.
We won’t qualify for CL anyway.
I despair, the apathy on this site is incredible.
I’ve also seen 20, 15, 10 points margins of winning the league.
WAKEY, WAKEY, we have got a title fight on our hands, they margins are arrogant, complacency will be our downfall.
Make no mistake, losing the league, will be the biggest on field disaster ever, bigger than Raith Rovers, Ross County and Morton put together.
SFTB
Cheers for that. Very interesting on the injuries.
I think Ronny Deila has highlighted what the break was about. It’s about recharging batteries and resting.
I think the league as a whole could benefit.
Wholesale changes have to be made. I would do it for the season after the TV deal runs out to have a bargaining chip for a better product. Larger league and a winter break. Regionalised League Cup.
LB
Sid-correct.
Mr Z-Bielik medical at Arsenal tomorrow
sid
Agreed. To fail to win the league now after Aberdeen firing a few warning shots and not improving the squad in this window would be football suicide.
LB
!!Bada Bing!!
Bada Bing,
Called your number (230 1967) and got tickets for the East stand. The North and South were sold out right enough.
Just as well I never took the bum info from the ticket line and waited till the morning or I might have ended up with a front row seat.
Enjoy the game
LiviBhoy
14:01
I don’t think a 16 / 18 team league is realistic. I agree it would help teams like Aberdeen and United go on runs, maybe raise crowds for games if you’re only playing a team once, but clubs simply won’t vote for it.
Compromise would have been league of 14. Play every team home and away then split top 6 and bottom 8. The split is brilliant when the league is close. Top 6 plays each other home and away, which removes the current odd home games anomaly. Ok Top 6 only plays 36 games compared to bottom 8’s 40. But the top teams should in theory have longer cup runs / European games to contend with, while the extra games the bottom 8 play may offset the loss of the revenue from player the better teams.
Jonny
for me an earlier start to the season is a must, globetrotting our way through a serious of meaningless friendlies is not preparation for such a significant tournament
I remember one year when the (league? cup was played virtually as a preseason tournament with 8 groups of 4 teams then into the quarters and semis and final
I think it may have been played over a two or three week period and in those days the league cup provided a European spot. Over the past few years it been treated as a meaningless trophy (although this season it seems to be treated as something higher)
That meant 3 games in the group stages over one week
(saturday wednesday, saturday)
the 4 x quarter finals the following wednesday
One friendly at home on saturday vs a glamour mob
two 2 x semi the following wednesday
the final on saturday
The LC is then finished and out of the way for the season.
6 competitive games if you get to the final
Minimum 3 games for everyone, including the minnows (possibly against the bigger sides too) and most of all – Played in a competitive spirit
Possibly even played in warm weather (okay i just made that last bit up to keep Geordie, my stalker happy)
Sid
Correct!
JonnyRambo67
Made some good points today.
I guess a 14 team league is a start. I would be all for it.
LB
14 team league for me too. Bit of variety, the vast majority of fans want it.
HH
Now that Minty’s companies are out of business who will pay the lawyers in the next appeal in the Big Tax Case
If they can’t afford a defence then does Hector win by default?
What are the bears of little brain protesting for?
Do they even know?
“SUMDAE PIT MONEY INTAE RAINJURS!”
“WHERE’S THE SEBO MONEY?”
“HONK IF YOU’RE RAGING”
“DON’T WALK BY A POOR WEE SEVCO GUY”
(thumbsup)
LiviBhoy
14:35
Ha cheers. Every dog has it’s day….
Think I’ll get out while the going is good and direct my intention at the comedy show at ibrox.
HH
Might be 14/16 teams next season if Sevco miss out on tge dog’s chance of a play off
I would say Mike Ashley has the Rangers by the short and curlies and the football authorities will do nothing to stop him taking full control. On the subject of Celtic I feel that this transfer window will tell us about Ronys future at the club if as has been suggested no new players are signed other than a pre-contract for GMS in my opinion it would show he is not being backed by the club.However,the transfer window is only halfway through and we may well bring new players in so for me it is just a matter of wait and see.Celtic fans saying they dont mind if Aberdeen or Dundee Utd. win the league this season as it would be good for Scottish football well that might be the case but it would be bad for Celtic Football club and as Supporter I want the hoops to win the treble. H.H.
Phil………..
could we add…..
“RAGE IF YIR HONKIN'”
Laughed at this…
“Today’s the day the teddy bears got their pitch nicked.”
Summer football (March to November), 16 team league (play each other home and away), return to sectional League Cup (play whole tournament during first month of the season).
After all the spin about the MLS being a top league,since Gerrard signed for LA Galaxy…….the 19 stone Ronaldo signs for Fort Lauderdale….
Do YOU need CASH quickly?
Ashley loans could be the answer to your problem. Quick CASH to YOU without any risk at all*
* Please note your home may be at risk… and training ground if you have one.
I predicted a cash neutral transfer window …..i was roundly abused by some
FF transfer fee has paid for our CL embarrassment and the collection of hopeless loan signings ( Denayer excepted )
Nevermind it`ll be bonuses all round for the finance boys
Gary67
March to November would see us become a total laughing stock. Look at the League of Ireland – doesn’t even make the news in Dublin.
HH
Money Money Money.
Owner of Palermo on the radio.-
” A club from Manchester has offered 40 million € for Dybala but I won’ t sell him until this season is finished.Every time he plays he is watched by 7 clubs- 40 million will gain them admission to the auction room and then we will see what is what”
bankiebhoy1 – your version is better. :)
Nicolas Cage has just been informed of the sombre news from Ibrox:
http://media20.giphy.com/media/Vg0JstydL8HCg/giphy.gif?w=320 (thumbsup)
They are not in MLS – different league
Winning Captains
Blatant plagiarism…..If memory serves me correctly that is derived from the days of Stephen Naismith going to as was Rangers.
The rumour was that Peter Lawwell was trying to hijack the deal…..SFTB of this Parish came up with “Today’s the day the teddy bears got their picks nicked.”
Hail Hail
Estadio
!!bada bing!!
14:14 on 15 January, 2015
Ronny Deila and Commons saying inroads being made for new deal . Still a bit to go , here’s hoping
>>>>>>>>>>>>>
The meeja won’t like THAT …… HAHAHAHAHAHAHA
SOT
stumbled across this:
http://www.elvisshakespeare.com/
overseasbhoy
14:59 on
15 January, 2015
They are not in MLS – different league
=====
They want to rival the MLS from what I hear and promote themselves as an alternative seemingly – I thought they were the equivalent to the Championship here, do they feed into the MLS?
HH
Ashes to Ashes FC
traditionalist88
American soccer looks on the surface to be a good idea but these players loaned back and forward and Defoe being sold to Sunderland for £14m suggests to me their is a murky side to it.
I believe Beckham earned around £30m a year and most of his team mates were on capped wages of around $60k a year. That is not right.
The Lampard deal does not sit right with me either.
LB
PFayr supports WeeOscar
14:54 on
15 January, 2015
I predicted a cash neutral transfer window …..i was roundly abused by some
FF transfer fee has paid for our CL embarrassment and the collection of hopeless loan signings ( Denayer excepted )
Nevermind it`ll be bonuses all round for the finance boys
———————————————————————————————————————
Tell me:
Do you eve read the Annual Accounts?
Do you know how many people Celtic employ?
Do you know what the players salaries amount to?
Do you know how much money we take in?
Do you know what the total expenditure is?
If you know the answer to even some of these question, perhaps you would no make your remarks
Why don’t the Huns Noveaux see that Big Mike is actually doing them a favour? At least he’s trying to keep them alive, zombified, but alive. Just.
Just like they did with Craigy they don’t appreciate what the man is doing for them.
Ungrateful bassas!
HH
SJ
PF
Agree, with the exception of bonus for the boys.
We’ll be loss making and come out of the year with considerably less cash, notwithstanding Forster.
LiviBhoy
Some strange goings on alright and the franchising involving New York City/Man City leading to confusion over who actually owned Frank Lampard should be a concern for all
HH
(I include trade debtors in cash btw)
My contact tells me very hopeful of Armstrong this window
Lets hope so
HH