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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traditionalist88
Correct. Who was he registered with? Was he even eligible?
LB
igc
14:20 on 15 January, 2015
Followed
sid 14.21hrs
“Make no mistake, losing the league, will be the biggest on field disaster ever, bigger than Raith Rovers, Ross County and Morton put together”
———————————————————
Correct. Incredible to think otherwise.
On a very slightly different topic. Regardless of what we individually think of RD, he should get our unconditional support going into the LC semi. To contemplate anything other than a victory is unthinkable.
Talk about pressure. Inter games will take care of themselves.
HH.
Getting to that time when we start to pine for a post from Ayrtic. It’s certainly cauld enough.
The problem with Celtic and transfer windows is that we are thinking too small. We should be investing in a private jet so that we can swoop into Dundee and take who the hell we like.
League of 20, second league 22
Proper pyramid below that for a team to come into the spfl each year and bottom club or club after playoff drop out.
38 and 42 games respectively. And only play a team TWICE. Four league games is killing our sport, over familiarity of players, lack of excitement in fans
I just worked it out.
Alfie Tokes is John Reid
Who is your best friend Alfie?
MWd said AYE
Monaghan,
Surely those FF posts have been awe nawed.
How could you try on 10 items over a 5XL jersey?
I hear the huns are refusing to buy the metro in protest at them publishing the old firm no more letter.
Fellow tims please follow suit and refuse to let McGills buses out too, after all what self respecting tim would use them. Your only making the currants late for court/signing on* delete as applicable.
Happy days.
How on earth can the SFA/SPFL not seriously question the ability of Sevco to carry on as a going concern?
Any business that stumbles from crisis loan to crisis loan, just to ‘keep the light on’ are in anybody’s language, de facto insolvent.
The only thing saving them is their ‘fixed assets’ – i.e. Ibrox and Murray Park.
Now if they are tied-up in security for another loan – then the company MUST move to balance revenue and expenditure – if they don’t they would be breaking the law by trading whilst insolvent.
Only cuts and more cuts can save them – surely Ashley would not ‘cough-up’ another £16 million needed to continue with the present model into next season – would he?
Ft. Lauderdale is not an MLS team, they are in the NASL, the Division 1 of the USA leagues.
As with any league in the world, the LA Galaxy and the New York Red Bulls are the establishment teams in the MLS with lots of cash. Only a matter of time till they pull away from the rest.
Tim Malone Will Tell
this could help
http://novikovrestaurant.co.uk/orders/
Apologies for MLS link to Ronaldo…give it 6 months though….:)
The cry was no surrender
– surrender or you’ll droon.
Cheers pod i
Kdc
I’ve been banging on about this for years. Why not align ourselves to a similar system as our lower Britain housemates. This may tweak the interest of Sky etc.
To the moaners of teams only playing twice – tough
Meaningless games – tough
Mid-table obscurity – tough
Relegation could be the end game some – tough
League 2 would be an amateur league.
no promotion or relegation- but teams an get straight in eg
New York Citeh. Just like back home!!!
Whitedoghunch
Many thanks for the thought.Know the shop and regularly have a trawl.I have yet to make a purchase.Most of it has no appeal but he does sell some things for much less than the market value
I really appreciate your thought- we obsessives need all the help we can get.
Seen a guy in Sauchiehall St at dinner time, wearing the ole Nepalese Wind Devil Hat.
Wonder is the protests will be licensed ?
How many police will be on hand and will the kettleing be deployed ?
Alfie.., do you know any of the answers to the questions you asked PF Ayr ?
I’ll be in Jacksonville this week and will be visiting the Jacksonville Armada organization.
This is a division of the local football franchise that the Celtic coaches work with.
Will also be having a swally at the local Celtic Supporters Club in Jacksonville Beach called “Lynch’s”.
Say hello if you see someone wearing a mangled Maloney 13 jersey. First ones on me.
Yon Barry Scott should use his Cillit Bang on his teeth…
Has he not gone yet?
So…
The Big Hoose will stay open…
8pm Mon – Fri, 7pm Sat, 6pm Sun
U
Is there a better way to convey emotions in the modern day than gifs?
Very funny ghuys
Well done
B-)
Sevco – the gif that keeps on giving
Whitedoghunch
This is the Peter Lawwell preference for the “swoop jet”. Interesting number of seats….
http://www.mtfca.com/discus/messages/179374/191882.html?1298262507
JonnyRambo67/Livibhoy
Re league size
Not sure 16 works – 30 games not enough. 18? Enough good teams??
14 with split after two rounds – problem is if you get a bad winter you’ve got a lot of catching up to do in a short space of time.
I think the current system might be the best of a bad bunch!
Glass…,
30 games with winter break ?
Whitedoghunch.
For what it is worth – the best second hand choon store in Scotland is Backbeat in Edinburgh.Not the most comfortable place for a crate dig but if you know what you want you can shout from the doorway .How the owner knows where anything is defies explanation.An experience – highly recommended – not cheap !
Should have added that I agree with an earlier start to the season. Finish in early May, start early July.
GlassTwoThirdsFull
15:50 on
15 January, 2015
JonnyRambo67/Livibhoy
Re league size
Not sure 16 works – 30 games not enough. 18? Enough good teams??
14 with split after two rounds – problem is if you get a bad winter you’ve got a lot of catching up to do in a short space of time.
I think the current system might be the best of a bad bunch!
————–
Start first weekend in July. 26 games ending with new year fixtures. Break for 4 weeks. Split takes affect upon return.
Jonnyrambo67
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 qualifier
———
Jonny, you missed the bit where it would not be a good thing for Aberdeen, or anyone else for that matter, to win the league because we’re Celtic supporters and as such we should always want (note, not expect) to win the league. Or maybe it’s just me?!
BSR@15:40
“Seen a guy in Sauchiehall St at dinner time, wearing the ole Nepalese Wind Devil Hat.”
Well, it’s certainly not the weather for the old Urban Sombrero, is it?
GlassTwoThirdsFull
I think there are a few scenarios to be looked at.
I don;t think there is much of a gap between Ross County, St Mirren, etc and Falkirk, Raith Rovers, etc.
It has been demonstrated this season with Hamilton that a team 2nd in the lower league can come up and punch way above their weight. I do think Hamilton have a huge advantage on their pitch. That will fade in time with most teams getting 2 games a season on it to get used to it. Plus their squad will probably be decimated this summer.
LB
Bourne
Which bliddy one?!
I can’t believe some people are saying they wouldn’t mind if Aberdeen win the league, the whole point of the season is to finish top. I’m a Celtic supporter, I want to win the league every year…
Guys, I have an exam tomorrow and am in desperate need of doing revision. Anyway, what about this song;
https://www.youtube.com/watch?v=v1c2OfAzDTI
But an Ian Paisley jr version. Here are the lyrics;
They call me Ian Paisley
I make the chicks go crazy
I bring the poon- NA – Nee to the DUP
Briningin all a the sexy girls to, to the party
Eh, I better get back to brand management, this masters isn’t going to do itself!
Tim Malone Will Tell
15:25 on
15 January, 2015
The problem with Celtic and transfer windows is that we are thinking too small. We should be investing in a private jet so that we can swoop into Dundee and take who the hell we like.
**************
So that’s why there’s an airport at Dundee!
Always thought it was for Wee Spencie’s microlight……
Apropos airports and signings……had dinner at the Norton House Hotel near Edinburgh Airport between Christmas and New Year. Very close to Edinburgh Airport and apparently where SirDM used to meet to initiate the EBT process with incoming sub contractor footballers…..
I had lamb. It was succulent. Seemed rude not to.
Where’s TD when you need him with a right good GIRFUY!
(And where is TD……? You ok you auld curmudgeon!?!)
HH jamesgang
Livibhoy
I’ve just quickly skimmed today’s blog but I did notice you point out the effect that continually going to the same grounds each season can have on players and how they can easily get bored of the repetition.
I agree completely and I also think it has the same affect on supporters.
We need to increase the size of the league. Personally, I’d go for 16 teams with a split after the first round of matches.
My concern with summer football is how holidays would affect attendances.