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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jamesgang
17:12
I’m not really aware of the history of the draft, but can’t really see how it would affect the closed shop of the franchise system. There’s simply no scope for other teams to be included, only way to get a team is a relocation. As far as I can tell, the draft structure is purely to enhance competition.
Put baseball in the same category as cricket, as in both bore me to tears. So not really sure how the major league / minor league works, but I’d guess it is similar to what I was hinting at. A secondary competition, with no promotion / relegation, where players that can’t can’t cut it in the major league still make some money in the minor league. Maybe amateur football in this country would be a good comparison. The baseball draft however I think would definitely feeds the major league though it may differ in structure slightly to the NFL.
Quinny………
“Today’s the day the teddy bears get their (hover) pitch nicked.”
Sorted.
;)
!!Bada Bing!!
16:49 on
15 January, 2015
Kris Commons could be this Window’s major signing…..
….or this window’s major slip-up.
Taken from Gersnet. – priceless stuff!!!
“Ibrox is not just a stadium, it is a beacon of hope, of remembrance, of inspiration to every one of us who cast a favourable eye towards her.
Quite simply she is beyond price.”
Book Club.
A Brief History of Seven Killings-
Marlon James ( Oneworld)
A fictionalised account of the attempted assassination of Bob Marley amid the chaos of late 70s / early 80s Jamaica. Epic rendering of a country heading for Hell in a handcart.
One doesn’t simply walk into Mordor and lob a roll of Andrex…
Like no other
https://pbs.twimg.com/media/B7ZL86vCQAA_Oa8.jpg:large
Unfortunately for the deluded, here is reality. (from Cartuja)
HH
this one caught my eye from twitter
“if you have a named brick at Ibrox , advice is to get it, like . right now. Take a mallet and a pick axe and hurry up”
priceless
HH
bournesouprecipe
16:52 on
15 January, 2015
Mr Whyte you now own 100%
Mr Green you now own 50%
Mr Ashley you now own 30%
Mr King you now own 20%
Mr Easdale you now own 35%
Mr Park you now own 40%
NoWayOut CSC
————————————————————————————————————–
What we are seeing is a new version of The Producers with Mike Ashley as Max Bialystock and Derek Llambias as Leo Bloom.
“Springtime for Ibrox and Murray Park”
Bears are incandescent, The Louden is running out of stock – “For MASH get SMASHED!
Difficult to find a bog roll in Glasgow tonight and trying to get to the shops is murder…are the buses on a go slow or something?
HH
Livibhoy,
A lot of my mates are Hibees and despite their club under Harry Swan in the 50’s doing their best to break away from their Irish roots (taking down the Harp and being behind the attempt to get us to remove the Tricolour) I have a certain fondness for them and would always want them to beat anyone apart from ourselves in a Cup Final.
Many of my Hibs mates historically detested the huns more than the Jambos and had a that same certain fondness for Celtic. I remember them attending the first Hands Off Hibs rally after the Mercer attempt to destroy them in the early 90’s and the following day telling me that the chat was that if they got swallowed up by Mercer/Hearts then Celtic would suddenly have a much bigger support from Edinburgh overnight.
I would suggest that things have changed dramatically over the years and that the younger Hibees do not have the same sympathies….most of my bhoy’s pals are Hibees – in their mid-20’s, and are very anti-Celtic. This in turn makes my bhoy very anti Hibs to the point that he doesn’t care who wins an Edinburgh derby which is very strange to me…..but there you go.
!!bada bing!!
17:26 on 15 January, 2015
They better not try it ……. I, honestly feel even SFA etc would have to draw back from THAT one ……. The Clubs in the leagues wouldn’t vote for it anyway … HH
BIG-CUP-WINNERS
17:22 on
15 January, 2015
No no its not that transfer that’ll happen :-)
*******
I now feel as confused as Mrs Doyle when she was trying to comprehend sarcasm!
Aff oot!
that crazy Tim Hutchybhoy has decreed the weans’ training to be on!!!!
HH jamesgang!
No chance of Der Hun going to EPL – think a 50 mile max zone exists for membership transfer- maybe someone could correct me if Im wrong
I think Celtic will offer Kris 2 years, IF, and only if, they don’t manage to sign a younger, leaner, fitter replacement this month ……. Don ‘t get me wrong, I luv Kris, but the Manager needs to make the decision, not the media ….
Monaghan
:-)
jamesgang
What was Big Hauns able to buy ?
If you can buy it, it’s transferable eh ?
Now having established that, what have the Geordies been unable to buy…..until now ?
Just drove home through Greenock. There appear to be distressed looking tramps standing at bus stops lobbing bog rolls and shaking their paws at passing McGill’s buses!!
What’s going on? Have I missed something??
beenbusyawedaycsc
BIGCUPWINNERS
Is it…a brain?
The bottom line .
Why bother with bog rolls.The Daily Record / Sun etc would be just as good.
Estadio
15:02 on
15 January, 2015
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,
I think you will be of a generation to remember when the Huns played a match in Jerusalem.
The papers carried pictures of Greig, etc. visiting the Wailing Wall.
Wasn’t long before ” Today’s the day the Teddy Bears Got their P***** nicked”, was circulating among the uncircumcised.
Heading for the motor soon, is bfdj on the night
I don’t know
You don’t know
We don’t know
Who knows
Like no other
Taken from Gersnet. – priceless stuff!!!
“Ibrox is not just a stadium, it is a beacon of hope, of remembrance, of inspiration to every one of us who cast a favourable eye towards her.
Quite simply she is beyond price.”
Ibrox changes gender within one sentence.
Maybe they just feel neutered now.
I love the Producers but the thought of a Hun cast makes me queasy.
I mean, imagine Sandy Easdale having to play ‘The Contessa and The Chauffeur’ with Big Mick just to get his hands on the chequey.
It’d put you off your tea so it would.
You know’im starting to feel kinda sorry for the average bear.
At least in the 80s and 90s,we knew who was shafting us,but by and large they still gave the manager a coupla quid here and there,and painted the crash barriers most seasons.
The crooks who have siphoned off every last penny from Rangers-old and new-have done it in plain sight while being lauded to the rafters by the MSM and by the support. And virtually every week,along comes another potential saviour,or snout in the trough.
I mean,they shouldnae be allowed out on their own. I blame care in the community.
My Nickel..
Celtic, need ..
TWO Noo Wingmen.
Why?
If ye don’t know..then Ah am no gonna Tell Ye ..Right Noo..
( Mebbe, latah..ed)
Therefore, Knowing of oor Need..
Gary Something Stevens, must Be brought in..No , Next Summer.
But..
A.S.A.P. fur We hiv a Whole Bevvy o’ Celtic Topplers.. breathing doon oor Breeks.
n..in Ma Opinion. HE WULL be brought in oan Jan.
Noo.. we still need Wan mair Noo Winger.. Gary Something Stevens, is only
One Hauf of the Missing Equation.
Who wull it Be??
Ah Dunno..
But, We wull be Lookin at Wan.. right noo..
Trust Me… N..ye kin Bet ye Sweet Patooty .. We wull Get a Second Wingman.
Why do we need Two Noo Capable Wingers?
Well.Ah wull relent n Tak Pity oan ye..n..
Tell ye.. That Under Ronny’s New Handy Dandy.. Team Formation.. which he is Strugglin. mightily tae Impliment..
Two ATTACKING .. n.. Capable Wingmen.. Ur
Paramount, tae his Plans..Which are no only Essential fur a Mair Attack Minded Celtic Team…but wan that wull niv the means tae Feed oor Starved HIt Men.
Who Are ,at this Time.. Looking iike a Covey of.. Belsen Horrors..
At this Time.. We DON’T hiv that Means ata oor Disposal.. tae “Feed ’em Good Tucker”
It’s Missing..n..It SHOWS.
Trust in Ronny.. He Knows…Ye Know.
Noo..You dae.. Tae..
Kojo
Still,Laughin’ .,.like Helensburgh.
Looking back today for some Celtic news on em Celtic Quick News to read about Celtic because we have an important game on Saturday.
I’ve learned that Ibrox is leaking, Ashley loan against stadium, should we/ shouldn’t we spend £250k and people talking about league reconstruction! If the SPFL were talking like that… this place would be in meltdown especially about that team that dominates this blog.
I want to read about Celtic, that’s all.
Big cup winners..
.good fiting clothes…just a guess
.
Celtic Football Club@celticfc · 35m 35 minutes ago
Manager targets instant reward on return to action http://www.celticfc.net/news/7475
We’re looking for some help tonight re viewing the new CQN site which has news and features etc
If you fancy viewing the site and giving us some feedback please email me on david@cqnmagazine.com
Site goes live very soon…
The Maestro
at 18.04
Well..If ye Wanna Read.. Stuff.. that is
VERY CELTC ONLY..
Read.. Mine..
Ye don’t hiv tae Believe it.. But..
At least It is Usually
VERY CELTIC ONLY..
NIce Chatting ,Pal.. Ye ur a Man efter Ma ain Hert.
Kojo
Still,Laugjng
Jim Delahunt……..
What a gimp !
Perfect for the loyal loo loos.They are always taking shit from some ass hole.
Kojo
I don’t always agree with you but you only talk Celtic and your posts always make me laugh
Hail!Hail
People in the oil industry losing jobs, firms being fined for not paying the minimum wage and STV lead with the latest Newco and Ashley story. Thus showing what is more important to them. At my time of life why should I be surprised?
I don’t understand why Celtic are being criticised for not paying Dundee United the 250k the msm claim they are demanding for GMS.
When a club is negotiating a pre-contract agreement with a player, the usual procedure is to complete the pre-contract first, THEN if the club wants the player now, they approach the other club and ask how much they want. Even then it is entirely negotiable.
There is absolutely no way Celtic would be telling people that United will be getting nothing, BEFORE the player has even agreed to sign.
I still remember years ago how Celtic supporters would phone Radio Clyde and say “Celtic should give di Canio / Cadete / van Hooijdonk whatever they want.”
Ditto with Viduka.
I despair that in 2015 we have supporters on CQN saying “Pay United whatever they want.”
Even if it is 250k they would want, do Celtic just pay up? No negotiation? No counter offer?”
Celtic could offer 100k, just as an example, and leave it on the table and it could be the last day of the window before United come back and say, ok let’s do a deal, which could end up somewhere between 100k and 250k, again just as an example.
Makes sense to me.
SOUTHOFTUNIS
It’s not only TRIFCo shares that are four for a pound.
So are bog rolls,at Poundland.
Theres a certain neatness in buying a product at one Poundland,then using them at another…
As soon as Hearts go 2 up tomorrow night it will be bonfire night all over again.