Podcast Episode 3 – David Low

ByTrisidium

Podcast Episode 3 – David Low

davidLowDavid Low

represents a highly significant component of the history of Celtic FC and consequently a highly significant component of how Scottish Football has panned out in the last 20 years.

As Fergus McCann’s Aide-de-Camp, Low was instrumental in helping him formulate and implement the plans which ultimately allowed control of the club to be wrested from the Kelly and White families. Low also helped McCann to rebuild and regenerate Celtic as a modern football club.

His views are unsurprisingly Celtic-centred, and this interview reveals his ambition for the club to ultimately leave Scottish Football behind. That may or may not be at odds with many of our readers, but the stark analysis of the realities facing football in this country may resonate.

Podcast LogoHe provides a window on the pragmatism of the likes of McCann, Celtic and many other clubs in respect of the demise of Rangers. He pours scorn on Dave King’s vision of a cash-rich Rangers future, and provides little comfort for those who seek succour for our failing national sport, believing that Scotland will find it impossible to emerge from the football backwater in an increasingly global industry.

Agree or not with Low’s prognosis, it is difficult to deny his compelling analysis of our place in the football world.

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About the author

Trisidium administrator

Trisidium is a Dunblane businessman with a keen interest in Scottish Football. He is a Celtic fan, although the demands of modern-day parenting have seen him less at games and more as a taxi service for his kids.

3,066 Comments so far

scapaflowPosted on11:36 am - Apr 10, 2014


“RFC 2012 which is currently in liquidation”, the liquidation ain’t over until BDO sings 😉

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beanosPosted on11:44 am - Apr 10, 2014


lets face it, the price paid for the assets far better reflects their true value than the nonsense in the accounts. new club, old tricks, this is the only way to prevent them from being balance sheet insolvent.

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JimBhoyPosted on12:04 pm - Apr 10, 2014


McCulloch: ‘Ramsdens loss worse than administration’…
— What about liquidation, no airbrushing that fella..!!!!! Like the relegation to the bottom division p!sh!!! Ranger now rangers then rangers whatever they want msm to sell crud…!!!

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erniePosted on12:11 pm - Apr 10, 2014


scapaflow says:
April 10, 2014 at 11:02 am
2 0 Rate This

TSFM says:
April 10, 2014 at 10:57 am

Hey, I’ve stolen quotes from worse folk, doesn’t make it any less true! The SFA needs root and branch reform, but lets not forget the kids football, amateur leagues, youth diversion work etc etc which brings so much joy to so many.
========================
Spot on. We should not let the justified requirement to rid the SFA of their compromised chief and to clean up their act with regard to how they deal with the top clubs (the latter not unique to but highlighted by the recent shennanigins with team from Ibrox) turn into a “let’s throw the whole lot out”scenario. I’ve seen the Association in action at many levels and they do a good job. I probably have to lay off the blogs and forums for a while as I’m getting weary of the “scottish fitba is deid/we’re a’ doomed” mantra. CO is compromised and we should keep up the pressure but Armageddon did not happen regardless of him or of the division Sevco play in, Scottish fitba is not deid because we don’t get the same money as the EPL, we are not doomed because, or even whether or not, Celtic are in a diddy league.
I would say that we’re doing all right as a country given what we’re up against in terms of the EPL, CL, TV coverage etc. I would go as far as saying that there appears to me too be a bit of a resurgence at grass roots level including aforementioned SFA community coaching.

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neepheidPosted on12:19 pm - Apr 10, 2014


That is a pretty damning audit report, heavily qualified as regards “going concern”. Clearly that was the reason for the delay in publication. It does seem certain that a lot more cash will be needed to see them through another season, so I expect that the 120 day review will conclude that another share issue is required.

I’m still totally confused about this 120 day nonsense. What’s that all about? Why take 4 months to reach conclusions that any competent finance director could have arrived at in 4 days? It’s all so simple: we are broke, more cash is required urgently, and could we please not throw it all away so quickly this time.

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ShooperbPosted on12:27 pm - Apr 10, 2014


TSFM says:

April 10, 2014 at 10:57 am

2

1

Rate This

scapaflow says:

April 10, 2014 at 10:33 am

StevieBC says:
April 9, 2014 at 11:17 pm

To be fair its easy to forget all the good work that gets down at the grass roots level. Even a broken clock is right twice a day
________________________________________________________________________

The party-piece quip of the wonderful – and now Emeritus – Prof Adam McBride of Strathclyde

———————-

I thought it was claiming that certain mathematical corollaries were so frequent that we should take out shares in them?

He was very entertaining at the Mathematics department Cheese’n’Wines as well….

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scapaflowPosted on12:39 pm - Apr 10, 2014


ernie says:
April 10, 2014 at 12:11 pm

Ernie, agree with the sentiment, but lumping all this onto Mr Ogilvie and a couple of lackeys, lets the real culprits off far too easy. Ogilvy is a symptom, not the disease.

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paulsatimPosted on12:59 pm - Apr 10, 2014


beanos says:
April 10, 2014 at 11:44 am
12 0 Rate This

lets face it, the price paid for the assets far better reflects their true value than the nonsense in the accounts. new club, old tricks, this is the only way to prevent them from being balance sheet insolvent.
===================================================
Dont recall if I read it on here the other day, but someone came up with a nice we phrase to describe the govanites. It was in reference to the followers but can see obviously applies at board level too. The phrase? Same flies, new turd!

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Long Time LurkerPosted on1:01 pm - Apr 10, 2014


Just thinking about some of the signals that surround planet Rangers:

The accounts are bad. Cash burn rate far, far too high.

Evidence from Rangers fan forums suggests that there is a ground swell among the support who are not going to re-new season tickets, or at the very least, no renewals will be made until the outcome of the business review takes place.

The 15 – 25% hike in season ticket prices must have been informed in part from the on-going business review. This suggests that there is no institutional investors on the horizon.

It does not look as if the fans will rally around in sufficient numbers to keep the club afloat, in terms of ST sales. They may pay at the gate in increasing numbers. Does this mean that the Club is going to have to rely on more expensive short-term loan facilities?

No money is being spent on keeping the stadium up to standard. Cost to rectify will only increase.

On-going Court claim c£500,000.

Interesting use of the word “enjoys” in the accounts – in relation to the club enjoys the use of the facilities [Ibrox and Murray Park] apologies for paraphrasing. Why say enjoy? Does this suggest that ownership questionable?

Is there an end game of sorts in sight? Cash is king, and it appears that there is not much left, with the prospects of generating income being reduced significantly as fans begin to walk away.

If Rangers loose at the weekend will we see an escalation – as at that point, their season is over?

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beanosPosted on1:02 pm - Apr 10, 2014


Barcabhoy says:
April 9, 2014 at 11:37 pm

As i said, I haven’t seen the accounts but if that is the information in them then that is damning. There should have been a warning far earlier.

I’m glad we agree that there is no chance of the sponsoring employer meeting obligations and that the asset disposals benefit the Murray family and the bank over the scheme members.

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indy14Posted on1:02 pm - Apr 10, 2014


JimBhoy says:
April 10, 2014 at 12:04 pm
8 0 i
Rate This

McCulloch: ‘Ramsdens loss worse than administration’…
– What about liquidation, no airbrushing that fella..!!!!! Like the relegation to the bottom division p!sh!!! Ranger now rangers then rangers whatever they want msm to sell crud…!!!
———————————————————————-
Jim, no matter what is reported, spouted and pushed as truth, everyone outisde the ibrox fishbowl, anyone who wants to know the truth does, the former Bill Struth managed team playing in Blue is dead. Let them on, its like my 7yr old reckoning he’s stronger than his dad, or thniks he knows more, he is utterely, utterly, utterly deluded ( I still love HIM though)
The club desperately wanting recognition, trying to attain SPFL status, trying manfully to prove they are the same showed clearly they were not, when, faced by any serious competition failed so completely to beat Raith Rovers.
They are the newest, most useless, untruthful, manipulative, favour getting, club/company/clumpany in Scottish football.

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indy14Posted on1:15 pm - Apr 10, 2014


Interesting use of the word “enjoys” in the accounts – in relation to the club enjoys the use of the facilities [Ibrox and Murray Park] apologies for paraphrasing. Why say enjoy? Does this suggest that ownership questionable?
————
It’s people noticing and interrogating the way things are phrased that brings me much joy, Longtime, that’s some spot, you clearly take NOTHING for granted as far as this debacle goes.
It reads to me the same way as you suggest.

If I said, “Despite having no home of my own, I am not homeless as I enjoy the hospitality of Mr Craig Whyte” 😯

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SmugasPosted on1:19 pm - Apr 10, 2014


LTL,

You missed out that what they (the accounts) patently say is Sevco can’t get to the end of next season as is, with or without an ST uplift.

Yes there’s a 120 day review due in a fortnight’s time (although 5.30 on Saturday will be as good a time as any I think) and yes I’m sure Montrose could also say “our accounts look dodgy but its OK because we’re planning a successful share float” (no offence intended to the gable endies – you were the first one I thought of – insert any of the other 40 diddies as appropriate).

The point is a/ there is a 31st March deadline for a reason, and the reason is to allow the SFA (SPFL?) to consider, amongst other things, your longevity for the benefit of others and b/ I do not believe any of the other 40 diddies will be referring to board discretion as regards a promotion simultaneous with an insolvency event any time soon either. Hopefully RFC(new) won’t either, but that simply puts more emphasis, and urgency, onto point 1.

EDIT: My mistake. 5.30 on Saturday indeed. As if we’d have a scottish cup semi kicking off at 3pm on a Saturday. Idiot!

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JimBhoyPosted on1:20 pm - Apr 10, 2014


@Indy14
My 12 yr old is smarter than her Dad, I had one of those ‘Jeez how did she get so big’ moments earlier… Anyways I reckon the new club will be even newer in a few month’s time accelerated by a bad result at the weekend. Ally might not do walking away from >£800k pa but the fans may get their boots on. I used to blog often on PMcC’s site and one of my first suggested that results on the park would kill the rangers. No fans no money..

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Long Time LurkerPosted on1:25 pm - Apr 10, 2014


indy14 says:
April 10, 2014 at 1:15 pm
————————————

Page 4 of the accounts, under the heading Current trading and prospects

“The Club enjoys a world class stadium and training infrastructure and a loyal and passionate fanbase, which provide a predictable income and the foundation for the Company.”
————————

What can I say – I enjoyed reading the accounts 🙂

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indy14Posted on1:28 pm - Apr 10, 2014


Idiot!

JimBhoy says:
April 10, 2014 at 1:20 pm
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@Indy14
My 12 yr old is smarter than her Dad, I had one of those ‘Jeez how did she get so big’ moments earlier… Anyways I reckon the new club will be even newer in a few month’s time accelerated by a bad result at the weekend. Ally might not do walking away from >£800k pa but the fans may get their boots on. I used to blog often on PMcC’s site and one of my first suggested that results on the park would kill the rangers. No fans no money..
———————————–
🙂 which is why I used my 7yr old becasue I am still winning – JUST! 😆 and I agree wholeheartedly with your opinion, the fans fomrerly known as rangers are nothing if not unstable and thoroughly un-loyal when the product is poor

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SmugasPosted on1:30 pm - Apr 10, 2014


“The Club enjoys a world class stadium and training infrastructure and a loyal and passionate fanbase, which provide a predictable income and the foundation for many a chateaux”

😈

Just on the offspring theme (apologies for off topic). Still one of my favourate phrases, I wish I knew the source…

Why is it just when you realise your Dad was right your son decides categorically that you’re wrong?

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toadintheholePosted on1:40 pm - Apr 10, 2014


———————-

I thought it was claiming that certain mathematical corollaries were so frequent that we should take out shares in them?

He was very entertaining at the Mathematics department Cheese’n’Wines as well….

So is this where all us Strathclyde maths survivors end up? Someone had to take pity on us I suppose…

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FairBairnPosted on1:42 pm - Apr 10, 2014


indy14 says:
April 10, 2014 at 1:28 pm

……the fans fomerly known as rangers are nothing if not unstable and thoroughly un-loyal when the product is poor.
———————————————–
They’re mostly not interested in the product, only the results.

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SmugasPosted on1:50 pm - Apr 10, 2014


Disagree Fairbairn to be honest.

A top slice of glory hunters will go, a further slice of principled individuals will refuse to renew, a deeper slice of bears may even stay away out of misplaced spite to the board, if not the club, but it will still leave a home crowd and marketing base that the remaining clubs bar one can only dream of.

Its how that dynamic changes that is key. In the first instance the ‘oarange tap’ brigade can fill a few gaps when the right levers are pulled. In addition should they struggle in div 1 then the no surrender faction in its purest, untainted form, will kick in as well and actually increase revenues.

A sustained struggle though, with no sign of alleviation coming from the board, or from a mythical sugar daddy (you know, kind of like what the rest of us have to do) would see a pressure being brought to bear, no question. But it is still a very large wounded bear!

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essexbeancounterPosted on2:04 pm - Apr 10, 2014


essexbeancounter says:

April 10, 2014 at 9:39 am
torrejohnbhoy(@johnbhoy1958) says:

April 10, 2014 at 9:21 am
Morning all.
I see that TRFC accounts are now available.
I’ll let our resident beancounters analyse them and let us all know how things were last June.
I see though that wages of just over £17m were 99% of turnover(£17.9m).Total costs were over £35m.
============================================================================
TJB…thanks for the “head-up”….(edit) Having said all that, I look forward to the excellent analytical comments from fellow bloggers, which will probably be more relevant that those produced by the so called professional commentators.
=============================================================================
My fellow bloggers have certainly not let me down…many thanks to those who have commented so far…quite enlightening!

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jockybhoyPosted on2:42 pm - Apr 10, 2014


“Has anyone considered voting yes on 18 September if for no other reason, to end the speculative debate of Scottish clubs being admitted into another association? I presume teams from an independent country could never be admitted to another country’s association leagues?”

Notwithstanding that is probably the worst possible reason to vote (either way) in the referendum, it’s also untrue. I unnderstand NZ’s Wellington Phoenix play in the Australian A-League…

As for TRFC’s accounts – a loss of £17m on £17m income is some going… It’s like the famous “KLF burn £1m” stunt, except they are burning 17x that amount. Every year. Amazing.

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JimBhoyPosted on2:46 pm - Apr 10, 2014


unsurprisingly Ally has been quiet this week. I look forward to his reaction to the 120(0) day review when he is told no new players next season and in fact that 15% we said we were shaving off that you objected too well there is more than one way to skin a cat, we will remove 15% of your football squad instead starting with the higher earners.

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redlichtiePosted on2:51 pm - Apr 10, 2014


Jockybhoy – could this be a new world record for a brand new clumpany?

Scottish football needs a strong Arbroath (and Dundee United).

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indy14Posted on3:04 pm - Apr 10, 2014


so jackie Mac gets three game touchline ban for doing whatever he didnt do (judging Vince’s history) does this mean it includes the semi?
If so I urge him to appeal and allow him to take his rightful place on the touchline.
If it doesnt include the semi final then fine, but the timing reeks.

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easyJamboPosted on3:05 pm - Apr 10, 2014


I note that Jackie McNamara has received an immediate 3 game dug-out ban after his spat with Tommy Wright. I’m sure that it will only be pure coincidence that the first game of the ban is Saturday’s semi-final. 😈

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indy14Posted on3:12 pm - Apr 10, 2014


easyJambo says:
April 10, 2014 at 3:05 pm
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I note that Jackie McNamara has received an immediate 3 game dug-out ban after his spat with Tommy Wright. I’m sure that it will only be pure coincidence that the first game of the ban is Saturday’s semi-final.

——————————-
Even the Jambos suffrin that Celtic paranoia now huh? ❗

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AllyjamboPosted on3:18 pm - Apr 10, 2014


indy14 says:

April 10, 2014 at 3:12 pm

Whatdya mean, paranoia? Just because everybody at the SFA, Referees, and Uncle Tom Cobley and All are against us, doesn’t make us paranoid! Besides, we got our own brand of paranoia and don’t need to use Celtic’s 😉

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easyJamboPosted on3:20 pm - Apr 10, 2014


Garrion Security Services have also lodged their accounts today for the period up to 30/06/2013.

http://www.scribd.com/doc/217451909/CH-Garrion-Securities-AA-2013

There are a few nuggets in there:
Auditors – Emphasis of Matter – Going concern warning.
“The company reported a loss after tax of £116K and had net liabilities of £116K as at 30 June 2013. The loss after tax has been driven by one off business start-up costs, and bought in consultancy fees to operate the company.”
They also owe £273K to the parent company.

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CampbellsmoneyPosted on3:24 pm - Apr 10, 2014


Regarding TRFC accounts

The statement in the Directors’ report that RIFC have provided TRFC with “written representation” that the inter-company balance (£16.1m as at June 30, 2013) will not be called up for at least 12 months from the date of the report (March 27, 2014) is interesting.

It has two effects.

1. The upside is that it enables TRFC to appear more like a going concern.

2.The downside is that it must clearly damage RIFC’s own position – what was previously a current asset is no longer so.

I go back to the wrongful trading analysis.

The directors of TRFC must be aware that they are burning cash at an unsustainable rate and that at some point TRFC will be unable to avoid insolvent liquidation unless something radical changes.

The RIFC representation is designed to give the directors of TRFC some comfort that RIFC will not demand repayment within the 12 months. That enables the directors of TRFC to say now (and subsequently) “we knew that RIFC would not pull the plug on us for at least 12 months and we believed that we could turn the ship round in that 12 months.” Whether such a position is defensible in terms of wrongful trading will always depend upon the reasonableness of the view of the directors that what they are going to do to turn the ship around can actually be achieved.

Maybe that is what the 120 day review will tell us.

Still – I am quite surprised to see these accounts make it out. While we may consider Companies House relatively toothless, the fact remains that the accounts got filed.

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Madbhoy24941Posted on3:25 pm - Apr 10, 2014


indy14 says:

April 10, 2014 at 1:28 pm

I agree wholeheartedly with your opinion, the fans fomrerly known as rangers are nothing if not unstable and thoroughly un-loyal when the product is poor

—————————————

All teams have a core loyal base, some more than others. I think if anything, the Rangers fans (for whatever reason) have shown extreme loyalty to the team over the last 2 seasons, I don’t see that changing soon.

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StevieBCPosted on3:27 pm - Apr 10, 2014


scapaflow says:
April 10, 2014 at 10:33 am

StevieBC says:
April 9, 2014 at 11:17 pm

To be fair its easy to forget all the good work that gets down at the grass roots level. Even a broken clock is right twice a day
=================
Glad you mentioned that sf.

You’re absolutely right: arguably the real value and dedication is more than probably at grass roots level, where you have folks doing their day job, but also volunteering their limited, free time – for free – to help kids learn about and play football.

This is more reason why those at the top of the SFA must go as they are further tainting the reputation of the SFA – down to grass roots level, IMO.

But I can only speculate here. I believe some fellow Bampots on TSFM do some coaching [?] so it would be great to hear their opinion on whether or not the SFA shambles over the last 2 years has affected them or people they know at grass roots level.

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tcup 2012Posted on3:33 pm - Apr 10, 2014


indy14 says:
April 10, 2014 at 3:12 pm
1 1 Rate This

easyJambo says:
April 10, 2014 at 3:05 pm
1 0 i
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I note that Jackie McNamara has received an immediate 3 game dug-out ban after his spat with Tommy Wright. I’m sure that it will only be pure coincidence that the first game of the ban is Saturday’s semi-final.

——————————-
Even the Jambos suffrin that Celtic paranoia now huh? ❗
———————————————————————————————–

Just because im paranoid Dosnt mean im wrong 😉

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easyJamboPosted on3:36 pm - Apr 10, 2014


Re the Garrion accounts under “related party” transactions:
I note that they have used an available exemption to avoid disclosing transactions between themselves and other group companies.

Have they got something to hide?

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helpmaboabPosted on3:40 pm - Apr 10, 2014


Jim Bhoy/Indy14

“When I was a boy of fourteen, my father was so ignorant I could hardly stand to have the old man around. But when I got to be twenty-one, I was astonished by how much he’d learned in seven years.”……..Mark Twain

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indy14Posted on3:52 pm - Apr 10, 2014


Just because im paranoid Dosnt mean im wrong
—————————–
Great one liner – “Everybody hates me because I’m paranoid”
I

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BrendaPosted on4:02 pm - Apr 10, 2014


Indy14 @ 3.04pm

The timing always reeks 😉 when it’s not sevco players/manager they’re dealing with 😛 oops silly me they don’t deal with them 😉 😉 they are of course the people who are above the law even lunny’s law 😳

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rantinrobinPosted on4:05 pm - Apr 10, 2014


Afternoon.I see McNamara receives touchline ban from immediate effect thus preventing him from displaying his tactical nous at Ibrox and shiny new Rangers continue to burn money faster than the fastest money burning team in the Universe.
No surprises then in the world of Scottish football

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fara1968Posted on4:23 pm - Apr 10, 2014


indy14 says:
April 10, 2014 at 3:52 pm
1 0 Rate This

Just because im paranoid Dosnt mean im wrong
—————————–
Great one liner – “Everybody hates me because I’m paranoid”
::::::::::::::::::::::::::::::::::::::::::::::::::
I’m not paranoid. Everyone just thinks that I am.

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BarcabhoyPosted on4:34 pm - Apr 10, 2014


Rule # 1 in preparing financial statements.

Never disclose any information you are not legally obliged to disclose .

Why ?

1 your competitors could gain information they may be able to use against you

2 your customers could negotiate better terms from you

3 your suppliers could negotiate terms that aren’t as advantageous as the ones you have now

4 use inter group trading to limit potential damage in 1-3 above

This is why i wasn’t particularly curious about the accounts for TRFC. The consolidated group accounts disclosed most of the information, as the only other subsidiary ( Garrion) is tiny . There is much more current information available on RIFC plc, in the form of the interims released 2 weeks ago. What is certain from those interims, is that the position at TRFC will have worsened significantly since June 2013.

Nothing has changed. The way forward is a business plan which ensures costs are reduced and brought in line with revenue. Over and above that investment will be required, as the available cash flow figures for the 3 six month trading periods since formation, do not support the current position.

Now any reasonable investor or reasonable supporter would allow the new board to present their case, before jumping in and making their job more difficult or even impossible.

There have been bloggers who can be excused , because their emotions clearly have been stretched to their limits. The self appointed spokespeople such as Sons of Struth, Chris Graham and Dingwall are way out of their depth in trying to outsmart Laxey. Ultimately all they will do is damage Rangers further than has been the case so far.

Dave King though is an altogether different case. He has sufficient business experience to understand the damage the actions of emotion wrought , but business naive , fans could inflict on the business. He is also able to pay for expert advice from advisors who will be well able to match Laxey for savvy.

What King could do ……if he was selfless, is invest at 70p a share. He could buy £15 million of additional shares at the same price the fans did, and at the price Laxey paid for much of their shareholding. Now of course this would require resolutions, Nomad approval and shareholder approval. However what it would do is have an immediately hugely positive effect on the share price, as long as Wallace has a plan to reduce costs and a long term plan to stabilise the business with steady growth as opposed to Kings crazy notion of splurging it all on a vainglorious attempt at entitlement.

That was what happened under Advocaat , King should know how utterly disastrous that was. He was on the board that ran up £100 million losses over 4 years.

So will King make the selfless move, which would help to stabilise the club, but will not give him control ?

It’s one these questions which would be best asked by Rumpole as he rolls his eyes to the ceiling , neither wanting or expecting an answer , as everyone knows it already. It’s fair to judge people based on their previous actions and behavious. On that basis who to trust ? Wallace or trust King.

Thats another Rumpole question.

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essexbeancounterPosted on4:37 pm - Apr 10, 2014


Campbellsmoney says:

April 10, 2014 at 3:24 pm
Regarding TRFC accounts

I go back to the wrongful trading analysis.

The directors of TRFC must be aware that they are burning cash at an unsustainable rate and that at some point TRFC will be unable to avoid insolvent liquidation unless something radical changes.
Maybe that is what the 120 day review will tell us.

I am quite surprised to see these accounts make it out. While we may consider Companies House relatively toothless, the fact remains that the accounts got filed.
==========================================================================
Campbellsmoney…the main points you raise demand some immediate answers, but until the horrible stuff hits the fan, not a word will be uttered by TRFC/RIFC or our own SFA/SFPL…which all amounts to a gross dereliction of duty.

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essexbeancounterPosted on5:28 pm - Apr 10, 2014


Barcabhoy says:
April 10, 2014 at 4:34 pm
Rule # 1 in preparing financial statements.

Never disclose any information you are not legally obliged to disclose .

There is much more current information available on RIFC plc, in the form of the interims released 2 weeks ago. What is certain from those interims, is that the position at TRFC will have worsened significantly since June 2013.

==========================================================================
Barca…that is why we beancounters use a “Companies Accounts Disclosure” checklist, to ensure that only the bare minimum information is disclosed…no more, no less.

As you say, 9/10 months after the year end in question, matters will most certainly have deteriorated, the only custodians of such information being the directors and “responsible officials” of RIFC and TRFC. And guess what, there has been an outbreak of “Omerta” in Glasgow G51, praying for some season ticket flows, which is why Mr McCoist in being held in “media quarantine!
Interesting times indeed!

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BangordubPosted on5:30 pm - Apr 10, 2014


Any word an Mr McCoist endorsing the season ticket sales yet?

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essexbeancounterPosted on5:33 pm - Apr 10, 2014


Bangordub says:

April 10, 2014 at 5:30 pm
Any word an Mr McCoist endorsing the season ticket sales yet?
=======================================================================
Bangordub…not until the cries of “Ally, Ally…GTF” have well and truly died down!

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Flocculent ApoideaPosted on5:40 pm - Apr 10, 2014


Am I right in saying that for every fiver the Ibrox club makes, they spend a tenner?

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the taxman comethPosted on6:41 pm - Apr 10, 2014


So RIFC has promised not to call in the debts of the subsidiary companies, the club and the security firm (are there others?) till 30/6/14

Will the omnishambles last till then?

What’s the play come end of historic cup run

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indy14Posted on6:43 pm - Apr 10, 2014


I find this interesting and proving a common thread in the SFA’s “handling” of coming together of managers on touchlines
From the BBC website “Wright confronted McNamara on the touchline, leading to both men being ordered out of the technical area in the second-half”.
It appears if you attack the opposing manager and are not on the receiving end of the abuse you are fine, however if as the one being attacked you then respond to provocation you are ultimately to blame…..Mac 5 match ban Wright 1.

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RyanGoslingPosted on7:04 pm - Apr 10, 2014


It should really be pointed out that the reason Mr McNamara got a lengthier ban was because this is his third breach of the same rule in three years. It should also be pointed out that if he appeals then the ban will be delayed and he will be able to be in the dugout at the game at Ibrox,

This is absolutely not a case of SFA bias to favour Rangers, and to my mind it is ridiculous to suggest that may be the case.

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twopandaPosted on7:48 pm - Apr 10, 2014


Could be wrong
But a bit of common sense would suggest – SFA and UEFA – need accounts
To give an – accurate – current – status – moving forward
Or at the very – very least indicate the cumulative spend in the current / [last] Season?
If accounts are the best part of a year lapsed reporting up to end June 2013
– Kinda defeats the point – I think

Staggered timing of accounts may suit spivs feastings flagitious purposes
And the SFA will roll over for their now regular spiv tummy tickling

But do Uefa accept such accounts?

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Angus1983Posted on8:15 pm - Apr 10, 2014


RyanGosling says:

This is absolutely not a case of SFA bias to favour Rangers, and to my mind it is ridiculous to suggest that may be the case.
——

Under normal circumstances, I’d agree with you Ryan.

However, there are so many little things like this that add up in favour of Rangers that I genuinely no longer believe they can all be coincidental.

Semi-final – played at home with own groundstaff preparing the pitch, home dressing room, no travel for home fans (except the buses from Peterhead etc, of course) – and now the away manager banned from the touchline in speedy resolution of a complaint.

What’s the bets everyone at Hampden who could accept an appeal is wandering around with their fingers in their ears tomorrow going “la la la” whenever the phone rings and the caller ID shows a Dundee dialling code?

I wouldn’t even be in the least surprised if a wee phone call has been made intimating that an appeal will be successful if it’s not made til Monday. Really.

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StevieBCPosted on8:16 pm - Apr 10, 2014


Agreed that the statutory accounts don’t give an accurate, current assessment of financial health.

For annual SFA licensing purposes I presume that some form of abbreviated management accounts are submitted to the SFA by clubs ? [I’m guessing – maybe Auldheid can confirm what is actually submitted?]

But, shirley a useful tool for annual licensing purposes is the credit rating of a club ?
An independent, current assessment of the credit risk of a club/company ?
[Agreed though, a lot of senior clubs might have a poor rating already… 🙄 ]

Maybe the SFA applies credit ratings as a licensing criteria currently, but there is a perception that it might be just an annual ‘rubber-stamping’ exercise without much rigour ?

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Angus1983Posted on8:18 pm - Apr 10, 2014


… tried unsuccessfully to edit last post to include the fact that the SFA made shocking excuses as to why a neutral semi-final venue couldn’t be used, in addition to what I did say above.

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parttimearabPosted on8:21 pm - Apr 10, 2014


RyanGosling says:
April 10, 2014 at 7:04 pm
It should really be pointed out that the reason Mr McNamara got a lengthier ban was because this is his third breach of the same rule in three years. It should also be pointed out that if he appeals then the ban will be delayed and he will be able to be in the dugout at the game at Ibrox,

This is absolutely not a case of SFA bias to favour Rangers, and to my mind it is ridiculous to suggest that may be the case.
——————————————–
Ryan, am in total agreement here – the SFA did not engineer the touchline spat that led to the ban and hardly needed to ban for five games when the SC semi is the next game.

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GoosyGoosyPosted on8:25 pm - Apr 10, 2014


The SPFL are ready to give Hearts their end of season prize money if they guarantee to fulfil their remaining fixtures. (Daily Express)
Or put another way
The SPFL have already given TRFC their semi final rental money and their end of season prize money .(Daily TSFM)

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bailemeanachPosted on8:46 pm - Apr 10, 2014


So we have published accounts clearly showing 99% – yes 99% of turnover spent on wages. In the 3rd division of Scottish football. And the manager wants more spent on the squad.

What in the name of God are the regulatory folks doing? Can it really be “no comment”? They must realise that this is going to end one way, and it will be badly. Another ship heading to the bottom of the ocean. Surely that will be enough to see them clearing their desks and vacating Mount Florida? No??

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BrendaPosted on8:51 pm - Apr 10, 2014


😀 We can all stop worrying it’s all going to be fine 😉 according to a caller on clydessb (I know I know but listen) GW will make an announcement just short of the 120 day period and DK will come in with £30million along with 2 other big investors making it up to £50million 😉 😉 seriously worth a listen on the podcast for the sheer entertainment and the ‘doing’ BFDJ got from his ain peepil 😀 and shock of shock mr Guidi was talking sense tonight!!!

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StevieBCPosted on9:12 pm - Apr 10, 2014


OT for the CA beancounters & Essexbeancounter in particular !
===============================================
Eb, in case you missed this, below is an extract about the ICAS CEO, whose pay might make you splutter into your coffee ! 😉

As an aside, I was talking to him at a function here last year – a very personable chap – and whilst I was teasing him about my initial reluctance about attending a function full of accountants, he cheerily admitted he wasn’t an accountant himself, but from a marketing background…

“…Anton Colella, who has been chief executive since October 2006, received a total remuneration of £353,000 for 2013, up from £319,000 the previous year. He was awarded an annual bonus of £55,000 on top of his basic salary, which swelled almost 14 per cent to £250,000…”

http://www.scotsman.com/business/management/icas-chief-enjoys-10-pay-rise-as-membership-grows-1-3362430

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upthehoopsPosted on9:33 pm - Apr 10, 2014


RyanGosling says:
April 10, 2014 at 7:04 pm
26 52 Rate This

This is absolutely not a case of SFA bias to favour Rangers, and to my mind it is ridiculous to suggest that may be the case.
==========================
Maybe you’re right.

Personally I would just like an answer from the SFA regarding independent checks on who instructs the groundsman on Saturday. I have failed miserably so far. As said previously, home clubs prepare pitches to suit/disadvantage styles of play by heavily watering etc. When there actually is a home club that’s just an accepted part of the game. However, while there is no home club for this fixture, one club appears to be in total control of how the pitch is prepared. Scandalous if you ask me.

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scapaflowPosted on9:39 pm - Apr 10, 2014


StevieBC says:
April 10, 2014 at 9:12 pm

A marketer in charge of ICAS kinda says it all really.

UPTHEHOOPS

This is a home game, and its simply another reason to hope United give them a right royal shellacking

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indy14Posted on10:13 pm - Apr 10, 2014


Brenda says:
April 10, 2014 at 8:51 pm

Hello, Podcast? apparently today’s was doozy links people please! The wife’s turn on the TV and I’m no watching 2 hrs of emmerdale and corrie!

Three things:
1. There’s no Corrie on a Thursday.
2. The word should be capitalised to head off any suggestion that you were disrespecting Corrie.
3. Do not disrespect Corrie.
TSFM

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ptd1978Posted on10:50 pm - Apr 10, 2014


So with a guarantee from RIFC not to call in their debt before July, a going concern warning, no sign of investment, no sign of cuts being made, wages increasing as they pass from Div 3 to Div 2 (in old money), no sign of dramatically increased income streams, no cash on the bank, no overdraft banking facility, one emergency loan already spent and PMG asking questions about an unpaid bills and the need for another needed to make payroll two weeks from today.
What assurances do the SFA want that TRFC will be able to fulfil their fixtures next season?
Is it possible that the SFA forced the publication of accounts as a sine qua non for not getting chucked out? Or am I confusing the SFA with a responsible governing body there?

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indy14Posted on10:58 pm - Apr 10, 2014


Three things:
1. There’s no Corrie on a Thursday.
2. The word should be capitalised to head off any suggestion that you were disrespecting Corrie.
3. Do not disrespect Corrie.
TSFM

there is when it’s sky plussed and TSFM in fear of being banned “corrie emmerdale, eastenders or hollyoaks!” so there

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ianagainPosted on11:02 pm - Apr 10, 2014


Re MIH

Is this lot worthless or should the pension fundbe moving to sequester some of it. Also why in January this year were they bidding for Edinburgh Garden city?
http://www.murray-estates.co.uk/news/edinburgh-garden-district/

http://www.murray-estates.co.uk/our-portfolio/current/ratho-station/

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SmugasPosted on11:08 pm - Apr 10, 2014


PTD

And of course if we take the RIFC qualification at face value that also rules out an insolvency event before the season end, again what any financial strategist would/should be screaming at them to do!

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ianagainPosted on11:22 pm - Apr 10, 2014


Brenda says:

April 10, 2014 at 8:51 pm

😀 We can all stop worrying it’s all going to be fine 😉 according to a caller on clydessb (I know I know but listen) GW will make an announcement just short of the 120 day period and DK will come in with £30million along with 2 other big investors making it up to £50million 😉 😉 seriously worth a listen on the podcast for the sheer entertainment and the ‘doing’ BFDJ got from his ain peepil 😀 and shock of shock mr Guidi was talking sense tonight!!!
=========================================================
Isnt it just.

His first £30m would be needed to buy the shares under the current scenario.
So then hes got £20m minus the 14.7 it consumes each year.
But wait. DK wants to spend. So what team could he get for under £6m?
Almost any SPL team bar Dons and Hibs, so on it goes again picking off players, ruining them and going nowhere.
Think again.
He needs to burn the above plus £30m at least. He is a Pretendygers mad man but he’s not that mad.

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valentinesclownPosted on11:29 pm - Apr 10, 2014


Flocculent Apoidea says:
April 10, 2014 at 5:40 pm
110 2 Rate This

Am I right in saying that for every fiver the Ibrox club makes, they spend a tenner?
—————————————————————————————————————————————-
For every fiver the Ibrox club makes the board/investors pocket a tenner?

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Palacio67Posted on12:06 am - Apr 11, 2014


Did anyone hear the caller on SSB tonight around 745pm? He had a very good presentation about the transfer of assets that were supposed to go to Sevco 5088 but went instead to Sevco Scotland. He said that this is why no one will lend to T’rangers and only when we see this ‘deed of Notation’ between the directors then T’rangers cannot really move on. He had the panel squirming when he mentioned it could all turn out to be a massive fraud….Worth a listen.

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Resin_lab_dogPosted on12:08 am - Apr 11, 2014


ptd1978 says:
April 10, 2014 at 10:50 pm

12

0

Rate This
Is it possible that the SFA forced the publication of accounts as a sine qua non for not getting chucked out? 😆 😆 😆 😆
_____________________________________________

Good one. really had me going for a moment there…

See… on one side we have Cojones +Integrity + Impartiality + Probity. And on the other we have SFA + Ibrox Club.
And like the North poles on 2 bar magnets, no matter how hard you try to push the 2 things together, it isn’t happening.

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Paulmac2Posted on12:10 am - Apr 11, 2014


GoosyGoosy says:
April 10, 2014 at 8:25 pm
…………………………..

To be fair….there has been precedence…Gretna were given end of season prize money well in advance to assist them to complete the season…

The one thing that still puzzles is why the SFA have not publicly assured Scottish football and their fans that they are doing everything to protect the game in the light of what clearly is now a published fact…regarding what is happening at Hearts and Sevco

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AuldheidPosted on12:20 am - Apr 11, 2014


On club licensing:
1. UEFA not interested unless a club qualifies for UEFA competition on sporting merit. If that is via SPFL1 then the standard applied is UEFA FFP.
If it is via Scottish Cup by a team not in SPFL1 then a minimum criteria is set by UEFA by 31 Aug of previous year and intimated to SFA. SFA inform any club who might qualify by SC before end of season and any club thus qualifying via SC who think they meet minimum criteria can apply via SFA who check if criteria met and give to UEFA to decide if licence for the UEFA competition will be granted.
Note UEFA NOT interested in domestic competition licensing arrangements.
Domestic arrangements fall under and are called National Club Licensing and relevant sections re finances are Section 8.11 and 8.12 that set out turnover; wages; ratio between them and (? profit).
In 2012 Section 8.12 was “enhanced” to introduce discretion on what happened if a club could not present accounts.
It was also announced in same Section that the said info would be published on SFA Web site. Thus figures for 12/ 13 should have been provided and may have been, but not anywhere obvious. That delay in publishing could be attributed to delay in receiving accounts from TRFC but only the SFA will know.

Good to see questions about club licensing being asked as it should play an important part in protecting the game from unscrupulous behaviour but the changes in 2012 suggest SFA are:

a), covering their backsides by saying figures will be made public and that makes sense in deterrent terms.

b) still want to excuse failures to comply by changing the rules to make such failure acceptable within the rules.

My general observation is that is just not to protect or save TRFC but to protect the game until enough clubs have brought their financial houses in order to make a league possible.

If the tighter rules that are required were introduced and applied at a stroke, it would either be a single six team league or a 12 team 5 a side league.

In summary; tighter club licensing is the way to go but needs introducing with care less the cure kills the patient.

The game should set a time table for introducing stronger domestic licensing to give clubs time to comply, but then make membership conditional on meeting common criteria or no play.

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AuldheidPosted on12:40 am - Apr 11, 2014


Paulmac2

There ongoing silence on their plans to tackle the consequences of past poor governance and future proofing is puzzling.

Even a statement that they are aware of serious issues of trust and honesty besetting the game that they intend to address would be a start.

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ptd1978Posted on12:50 am - Apr 11, 2014


I reckon McCoist is the reason why Rangers are in their current mess. Not just because he contributed to the old club’s ruin with his European exploits, but on a larger scale. I reckon with Ally around, a sustainable plan at Sevco was impossible.
If there were any genuine businessmen at Rangers arguing for a long term sustainable plan, Ally would have swayed the spivs by being the guy who is selling the new club to the punters.
Anyone suggesting that the club would have loads more money left in 12 months if they played some kids, developed them to sell and kept some cash would be told by Ally that unless he and Walter get what they want, there’ll be no season ticket cash. Game, set and match!
This year however, the spend to generate income idea is not possible and Wallace is probably not a spiv. Ally was until they finally mussled him, still briefing to his mates in the media that he needs players, but he’s out of luck this time.
Some people reckon he’s an astute guy and he knows what’s really going on. I can’t see it. I think he’s convinced someone will always show up and pay his bill, so he can do what he likes. A true product of Murray’s Rangers, he doesn’t know the consequences of excess. He’s incapable of learning basic fiscal responsibility. The kind that kids learn when they spend their lunch money on sweets in the morning and then have to go hungry at lunchtime.
I bet he genuinely regards liquidation as a method his “club” used to shed debt. Recognising the truth would involve a lesson in financial reality he lacks the capacity to learn.

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Danish PastryPosted on6:28 am - Apr 11, 2014


Palacio67 says:
April 11, 2014 at 12:06 am
20 0 Rate This

Did anyone hear the caller on SSB tonight around 745pm? He had a very good presentation about the transfer of assets that were supposed to go to Sevco 5088 but went instead to Sevco Scotland…
——–

It was a good call indeed @Pal67. I thought it might have been a TSFM regular, what with the talk of triplicate versions of the phantom deed of novation. It was a bit of jings moment for panel.

Quite a lot stick given to the ‘legned’ (and very former legend) DJ. Anyone know if he is on the PR payroll? I thought one caller actually suggested that. There was no denial.

Anyway, on the lighter side, did anyone notice the similarity between Massimo Cellino and a certain Charles ‘Big Hands’ Green? I’m perhaps easily amused, but this image carried in media in the past few days suggested a toupee and sunglasses on the irrepressible Charles.

http://images.football365.com/14/03/800×600/QPR-v-Leeds-Massimo-Cellino-pa_3092618.jpg

It couldn’t be, could it?

🙂

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upthehoopsPosted on7:09 am - Apr 11, 2014


ptd1978 says:
April 11, 2014 at 12:50 am
========================
The question never asked to McCoist, or indeed Smith when he was on the new club board, is where do they think the money should come from to fund their idea of how Rangers should operate? If there was such a thing as a non-compliant sports hack in Scotland they could easily pin it down to ‘the money should just be there, just because it’s Rangers’. To spend the way they want to means someone, or some financial organisation to allow tens of millions to disappear without trace. Alternatively an elaborate tax avoidance scheme could be set up with the potential consequences being it hanging over Ibrox for years. The last resort is blatant tax evasion. None of this is the way to run a football club. Why doesn’t someone from the media have the spine to point that out to McCoist?

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BrendaPosted on7:10 am - Apr 11, 2014


DP the caller did insinuate that BFDJ was still on the payroll because of his defence of all things ibrox but as you say there was no denial, but I think it was with that particular caller that mr Delahunt had to tell both the caller and BFDJ to ‘stop shouting’ and the ‘legned’ is chastised on a regular basis to stop banging the desk with his fist?? By fellow ‘pundits’ 😀

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