A consortium led by David Low has been in talks with Sir Tom Farmer seeking to purchase Hibernian Football Club. The story has been embargoed for a few weeks, but David agreed to speak to TSFM to give us an exclusive interview and provide us with information about his intentions for the Edinburgh club.
Highlights of the interview include the similarities and differences between the Hibs situation and the one he found at Celtic Pak in 1994; how Scottish Football’s “new level playing field” as Low calls it has created an opportunity for a club like Hibs to be the main challenger to Celtic for honours; the contrast of his consortium’s approach to that of the recent debacle at Ibrox; the role of the fans at every level of the club; the future of Allan Stubbs and Leanne Dempster; and the journey back to the Premiership.
Low is frank about his reputation as a well-known Celtic fan, but highlights his Hibbee credentials and his affection for the club, eschewing the “I was always a Hibbee” line taken by so many people seeking to ingratiate themselves with the locals at various clubs.
Certainly, the experience and finance rolling around Low’s consortium is something that any club could do with, but the fans are crucial to their involvement and interest.
He says he won’t go ahead with the purchase unless the fans are behind them.
“Fans have never been so powerful as they are today, especially with the advent of social media like TSFM”
“We have seen in recent years what a body of fans are capable of when they re together”
“We want to have that togetherness at Hibs, because the only way forward is to have trust between the boardroom and the fans, you only have to look at the levels of distrust between board and fans at Rangers to see that it is a recipe for disaster”
Castofthousands says:
August 27, 2014 at 11:44 pm
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Some excellent points made there CoT, but surely I’m not the only one intrigued as to the identity of one of your favourite bands?
One of my favourites were playing in Kelvingrove Park a couple of Friday’s ago. For me, Teenage Fanclub should be part of the fabric of our society. Musical perfection.
Campbellsmoney says:
August 28, 2014 at 9:55 am
Football at that level can be a matter of luck. Maribor scored a scruffy goal. Celtic hit the bar. Celtic were not great but neither were Maribor. Had the luck gone the other way, Celtic would be through without having spent extraordinary sums to get there. The “gamble” (if indeed it was a “gamble”) would have paid off (albeit with huge assistance from the Legia issue).
////////////////////////////////////////////
I don’t want to turn this into a celtic blog but every team with sensible investment in the right areas increases there % of success.
Celtic have taken the spfl competition for granted be selling off and releasing good quality experienced players to improve their balance sheet.
Every business works with a manageable level of debt and im not suggesting they spend big but Celtic could easily have brought in at least two or three badly needed players of at least the quality of the maribor or legia players for a combined half the amount the took in for selling their goalkeeper.
They are taking the rest of scotish football and their own fans for granted which will I am sure will result in a half empty stadium most games this season.
Campbellsmoney says:
August 28, 2014 at 9:55 am
Like in all sports luck has a good deal to do with it.
However in cup competitions, including those with small group stages, a well drilled team of half decent players can defeat a star studded eleven and make their own luck.
I am with you in that I don’t think it would take too much to up Scottish teams chances of benefiting from the odd bit of luck if we could just become a bit more tactically aware and develop a wee bit more skill, decent first touch, speedy breaks on the counter etc.
Maybe that’s what Celtic / Deila’s aims are. Certainly the appointment of Collins points in that direction.
Macnamara and McInnes seem to be trying to play the game as it should and, scrappy derby aside, Robbie Neilson presumably with Levein’s hand in the background looks like encouraging a decent passing game at Tynecastle along with bringing on some youngsters.
Jim Duffy was not a bad player in his day and given his time in the game should know that throwing cash at the problem is not the solution.
Completely OT but the Bulgarian team Ludogorets v Steaua Bucharest of Romania last night in the CL was one of those stories that even fiction writers would struggle to justify putting down on paper….
http://www.bbc.co.uk/sport/0/football/28962031
A last minute normal time equaliser, extra time with their goalie sent off in the very last minute, no sub goalie available, the centre half (a Romanian who previously played for Steaua’s local rivals) going between the sticks after scoring the first penalty – and then saving two of the seven taken using Grobbelaar-style antics! A lenient ref and officials too regarding his movements off the line.
And all from a team only formed in 2001…
You couldn’t make it up and a shining example of the romance and excitement of our beautiful game.
All Football needs the spirit of teams like Ludogorets.
http://www.bbc.co.uk/sport/0/football/28966439
“Ross County sack manager Derek Adams and his father George”
Quite early in the season even by Scottish standards…
I occasionally read comments on here along the lines of “only in Scotland…”, so I thought the following article was a timely reminder that it could be worse..so,so much worse…
http://www.theguardian.com/football/2014/aug/27/italy-serie-b-wrangle-team-x-fixtures
spanishcelt says:
August 28, 2014 at 10:12 am
Hear what you say but two things stuck out for me when listening to the radio this week.
On SSB before the Maribor game a guy was on saying he still thinks Samaras going was a mistake and then, while agreeing he could blow hot and cold, rang off a list of other strikers Sammy had seen off during his time at Celtic.
Similarly Tom English, last night on Sportsound, reeled off a list of Celtic signings who never made the grade but presumably were all on the balance sheet in terms of wages.
While the likes of Forster, Wanyama etc have been successful, the money brought in in by such deals has helped pay for some duds as well. I think the figure given that Celtic were about £10m up on the transfers cash in and out over the last few years..
Perhaps a view has been taken that the ‘scatter gun’ approach needs fine tuning before the balance goes the other way.
redlichtie says:
August 28, 2014 at 10:16 am
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…All Football needs the spirit of teams like Ludogorets.
———-
Sounds like great fun. A name like Ludo could make for an interesting kit — a blue, green, red and yellow check pattern? 😆
Apropos Pat Bonner on Sportsound, there was a hilarious twitter exchange on Jim Spence’s timeline last night. He’d apparently misspelled Bonner as Bonnar and was pulled up about it by the grammar police. Very funny chit-chat, but I’m easily amused 😀
Brilliant pta. Corruption runs deep in football the world over
“In another bizarre incident this year, the Sicilian amateur team Bagheria, who play in the eighth tier, scored eight own goals in the last 10 minutes as they lost a regional cup match 14-3.”
Following on from yesterdays discussion’s re youth coaching being an old pals act it seems the same goes for out of work football administrators
http://www.dailyrecord.co.uk/sport/football/football-news/david-longmuir-back-football-beloved-4122080
Was there ever an outcome of the SPFL investigation into Longmuir’s bonus payments that only Ballyntne knew about.
WOOOOOFFFFF! And old Archie has come out as a “NO”! (The Herald this morning). 🙂 What a surprise!
The End Game is Nigh – One Scenario
The RIFC shares of “investors” who paid the market price (24p – 93p) will be worthless if liquidation occurs – as will the shares of the initial investors – but then they only paid 1p/share. So the initial investors would lose tens of thousands of pounds – but will have earned much, much more in salaries, fees, loan interest, onerous contracts and other creative ruses. It is important to consider that when no more money can be extracted from TRFC/RIFC, and no further debt can be accumulated, the initial investors may initiate Members’ Voluntary Liquidation (MVL) as the quickest, cleanest exit strategy – without notice – accepting a total loss on their shares. Likewise, without notice, creditors could be left waiting months (maybe years) for the appointed liquidator to distribute a few pennies in the pound, or maybe nothing at all. Real shareholders and creditors would do well to consider this possibility seriously and seek professional advice in order to take steps to mitigate potential losses.
http://www.companieshouse.gov.uk/about/gbhtml/gpo8s.shtml#ch5
The above is not financial advice and should not be acted upon as such.
wottpi says:
August 28, 2014 at 9:25 am
4 1 Rate This
Matty Roth says:
August 28, 2014 at 8:53 am
How much foreign football starring glitzy, celebrity teams do these same fans watch?
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
……At the expense of watching and supporting their own local teams?
For me it is a bit like the driver v cyclist argument.
Many folk assume that because a person is on a bike they know nothing of the rules of the road and care not a jot for drivers. However it is probably the case that the cyclist folk complain about has a car sitting on the driveway back at home. It can often be the case that the dodgy cyclist is probably also a poor driver and awful pedestrian.
For years we have had people turn away from their local teams to support our big two so why should we be surprised when that happens at a different level.
However my guess is that many folk who fork out their money for Scottish football also take in CL , EPL etc because they simply like football.
The issue is trying to maintain and build on the existing support by playing attractive and entertaining football at all levels by producing young local talented players. For a country our size it is really about trying to ensure the clubs are community based organisations focusing on issues like health & fitness, sporting participation etc and do more than just win the occasional game.
======================================
wottpi,
I quite agree with you on the focus of clubs (and I think many clubs in Scotland are doing just this)
But I’m not convinced fans are really on board with this and are ready to accept their clubs becoming entirely secondary to the big money football they pay money to watch on TV.
I think lots of fans still want to have their cake and eat it. I don’t they can. IMO the consequence of us all subscribing to channels like BT Sport and SKY to watch wall to wall EPL and CL coverage is the inevitable degradation of our own game.
I take the point that many who pay to watch these games also support their own clubs, buying tickets for games and so on. But lots of others don’t. And I’m not at all convinced that supporting your own club but also funding a ‘mistress’ on the side is enough to secure the future of our clubs.
Its the collective TV market for EPL and CL broadcasting that creates such huge revenues that our game now has 2 distinct tiers.
How long before we see a split in Football that irreversably separates these 2 tiers. After all they may as well be playing by different “codes”….
And lastly, I’m by no means saying football fans should NOT put their money into SKY or whoever brings them their fix of football, that is their choice. But I don’t have much sympathy for them if they decry how far our game is “fallen behind” these incredibly rich, exclusive cliques that have been created.
Danish Pastry says:
August 28, 2014 at 8:24 am
“Must be a nightmare scenario at UEFA. Greed never sleeps :lol:”
—————————-
It is no laughing matter. We all like a bit of creature comfort and it is difficult to refuse a generous offer if it is put in an enticing manner. Thus the stiff collared blazers that we so often deride have their starch softened by the glad handing and soft shoe shuffle until there is not a crease remaining in the fabric of society. The whole financial crisis is a lesson on how we ALL are seduced by possibility and are willing to trade our reality for it.
I think there needs to be a new morality (he says stepping outwith the immediate football scenario into a much wider vista). The truth has become much devalued as an inconvenient thing that exists merely for the gullible to naively attach themselves to. However, to quote Orwell, ‘in an age of universal deceit, telling the truth has become a revolutionary act’. A revolution is what is required and perhaps is already underway.
The truth is important because it is a very efficient way to transmit information. It is almost telepathic since it carries with it its own logic. People may wish to pervert the truth since its meek accomplices are shocked into inaction by such profligacy but their shock is borne out of the knowledge that to knowingly pervert the truth invites catastrophe.
Capitalism will by its very nature seek to saturate the market unto the point of monopoly and ultimately tyranny. It is like a force of nature that left unchecked would swamp everything in its path. However nature herself does not tolerate such species and has all manner of balances that hem it in and discipline it to its reality. There is no such thing as capitalism. Every economy that employs the capitalist motive is littered with financial strictures that prevent it running out of control.
The problem with football is that its amateur roots are not so far in the distant past. It has had to learn fast how to cope with the duplicity that often accompanies successful ventures. For the growth to be maintained the plant needs to be kept healthy and this requires practices that at any single moment in time may be difficult to justify financially.
So there needs to be an ethic that goes beyond the financial imperative and which looks to a greater good. However none of us is constructed in such a manner that we can guarantee this of ourselves. We are all pliable. At this stage there seems little more than can be done other than identifying the problems. Finding the solutions is a further stage in the puzzle.
Members voluntary liquidation does make sense. However it does beg a few questions. 1, Which entity would be doing it RIFC or TRFC. 2, Would it have an effect on tax breaks which had been given by HMRC (does the company have to trade for a minimum period) 3, What would happen to the assets, the point of the liquidation would be to realise their value and split the proceeds between the shareholders. Who would buy them and how much would they be willing to pay.
I still think the most likely outcome is the assets being moved from TRFC to RIFC to satisfy outstanding debt. There are several options once that happens.
I am sorry – I cannot see any way in which there could be an MVL at either RIFC or TRFC.
An MVL requires –
(i) a statutory declaration of solvency by the directors (definitely not possible in TRFC)and
(ii) a special resolution (75% of the votes) at an EGM (could that be guaranteed in RIFC?)
If they are not solvent then why are they being allowed to continue to compete in Scottish senior football. Surely they must declare themselves solvent prior to the season starting and give assurances that they will be able to complete the season.
On the 75% rule. For TRFC they are 100% owned by RIFC so anything the board of RIFC decides to do to them will be by over 75% of the shareholders. Re RIFC, as I understand it they are looking to sell further shares to existing shareholders on a 1 for 1 basis (should the shareholder decide to take up that option). How many of the small shareholders / supporters are likely to take this up.It is entirely possible that few will and that some of the “institutional investors” will increase their percentage shareholding.
If I remember correctly they were just short of the 75% they needed to pass special resolutions at the AGM.
16 Sodium Atoms says:
August 28, 2014 at 1:44 pm
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My personal view is that the property deal will not happen. Laxey and the other property asset stripper have had plenty of time to do this and have either been unable to convince the initial investors or they have concluded there is no property-play in assets that are only usable for football in low cost postcodes.
People seem to take comfort from the fact that the initial investors have millions of pounds in share value that they will want to protect and sell on for a profit. But this is notional share value. No-one wants to buy millions of shares so they can’t be sold at their current value. An attempt to sell a fraction of them would crash the share price. Their shares only have value as control of the clumpany.
The key point is that the initial investors have made a handsome profit without selling their shares. They would love to attract more investment, by whatever means, to keep the gravy train rolling – but they have been unable to do so for obvious reasons. The well runs dry when all the cash has gone and no more debt can be accumulated, then they will move on and be more than satisfied with their work. Liquidation draws a quick and simple line under the project.
As for HMRC, the liquidator, the creditors etc, that’s for the directors to worry about – and the initial investors are not directors.
Just my opinion, for what it is worth.
THE Company announces the results of the voting by poll on the resolutions put to its Annual General Meeting held at 10:30am on Thursday 19 December 2013 at Ibrox Stadium, 150 Edmiston Drive, Glasgow G51 2XD.
Resolutions 1-9 were successfully passed but Resolutions 10-14 did not achieve sufficient votes to be passed.
The Directors note that Resolution 10 was supported by 67.9% of the votes cast but as it is a special resolution it required a majority of 75% of the votes cast.
I see that following a campaign of harrassment, smear and emotional blackmail, and fresh from taunting Celtic publicly after their loss to Maribor on Tuesday, the chairman of Legia Warsaw is now concerned at the prosepect of trouble if Celtic and Legia meeting each other in the Europa Cup Group stage. Clearly this is a man who’s brass neck could give Campbell Ogilvie a run for its money.
http://www.express.co.uk/sport/football/504087/Rematch-could-get-ugly-Legia-chief-sees-trouble-if-Celtic-draw-Poles
Campbellsmoney says:
August 28, 2014 at 1:59 pm
=================================================
Fair point – my mistake – it will have to be Compulsory Liquidation then – but the difference is the initial investors may not have full control of the timing. However, some leaked info could easily precipitate this when they feel the time is right.
On the “property deal”, I think that would really depend on just how loyal you thought Rangers’ supporter were. Would they for example accept a club which did not actually own it’s own stadium and training complex and instead rented them from another company. In short would that arrangement convince them that it was time to walk away.
If they would accept it then as a shareholder of the company which owned those assest you could have an income for years, with little or no cost depending on how you set the deal up. With the safety net of assets which could be sold on, even if it was only for the land on which they sit.
The League Cup draw throws up another whopping example of how we’re run by a corrupt cabal of jokers who don’t follow the rules.
http://www.onfieldsofgreen.com/a-continuing-embarrasment/
16 Sodium Atoms says:
August 28, 2014 at 2:29 pm
On the “property deal”,
==================================================
I’ve always been sceptical about the property deal because it relies on an external party investing a substantial amount in the belief they will get long-term revenue from a successful, sustainable, football club. The redevelopment value is not enough insurance for the investment involved. Charlie may have been able to swing that at one time but it now looks impossible – well into “then she spat out her coffee” territory.
Also consider the current fuss about just renaming the place to raise much needed cash. Selling it would be considered high treason, STs would drop by50% again – if not more.
Sorry if I have picked you up wrong but why would an external party have to invest a substantial amount. RIFC have already provided substantial loans to TRFC. They could take the properties from their subsidiary in lieu of the debt, then rent those properties back to TRFC. In an ideal World they would sell the subsidiary, or even give it away and simply become a property company.
With regard the high treason, that was my point with rgard the degree of loyalty you would hope to see from the support. Particularly if by that time you were at a Hobson’s choice situation.
John Clark says:
August 28, 2014 at 12:32 pm
11 3 Rate This
WOOOOOFFFFF! And old Archie has come out as a “NO”! (The Herald this morning). What a surprise!
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JC – and your point is what exactly? What is its relevance on this blog?
James Forrest says:
August 28, 2014 at 2:30 pm
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The League Cup draw throws up another whopping example of how we’re run by a corrupt cabal of jokers who don’t follow the rules.
http://www.onfieldsofgreen.com/a-continuing-embarrasment/
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Once again rules bent or broken by a bunch of rogues. Regardless of whoever would benefit from such a decision the fact is that it is still breaking rules without the slightest hint of embarrassment from our governing bodies.
Carfins Finest says:
August 28, 2014 at 3:09 pm
I imagine the professional Game reps would have had a say in this? An explanation from them is called for don’t you think?
16 Sodium Atoms says:
August 28, 2014 at 2:57 pm
In an ideal World they would sell the subsidiary, or even give it away and simply become a property company.
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I think we were talking at slightly crossed purposes. I meant the property being sold off by TRFC/RIFC to raise cash and then rented back to TRFC. I think you see TRFC being sold off and renting the property from RIFC. Either scenario involves an external party investing new money – otherwise it is just rearranging the deck chairs on the Titanic. I don’t see who would buy either the property or TRFC – both propositions are deeply flawed except to a billionaire bear with money to burn – so there have been no takers – I’m sure they’ve already tried every possible punter.
scapaflow says:
August 28, 2014 at 3:15 pm
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Carfins Finest says:
August 28, 2014 at 3:09 pm
I imagine the professional Game reps would have had a say in this? An explanation from them is called for don’t you think?
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Absolutely. We need an explanation as to why this was necessary. If someone would break cover and explain we may see their reasoning. But as long as decisions like this are made behind closed doors then the deeper peoples mistrust will become. If that’s possible…
Carfins Finest says:
August 28, 2014 at 3:29 pm
the deeper peoples mistrust will become. If that’s possible…
===============================================
Integrity is doing the right thing, even when no-one is looking.
Corruption is doing the right thing for you and your mates in plain sight and not giving a damn what the little people think.
Castofthousands says:
August 28, 2014 at 1:21 pm
8 0 Rate This
It is no laughing matter …
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It certainly isn’t, but tryng not to lose my sense of humour. They can transform the game out of all recognition but they won’t stop me mocking them!
Welcome to Utopia FC 😉
James Forrest says:
August 28, 2014 at 2:30 pm
In total agreement with James in what he says, but I am a bit bemused over how this has come to pass. Why is it that TRFC are playing a 2nd round match three weeks after everyone else, and only one week before the 3rd round?
I’m genuinely out of the loop on this one and only going by the BBC website fixtures list regarding the rounds of the competition, however, it does seem strange that some quirk (if that is what it is) has resulted in something to potentially benefit the club from Govan again. Has this ‘anomaly’ been mentioned by the SMSM yet?
Allyjambo says:
August 28, 2014 at 3:45 pm
It looks like one of those Honest Mistakes, that happen in Scottish Football, I’m sure that just like a 22 bus there will be another along in a few minutes 😉
Castofthousands says:
August 28, 2014 at 1:21 pm
I enjoyed reading that both prose and the message.
Here in my personal ethical Brigadoon where pigs might fly I take solace in my belief that life itself is self correcting, which is why we are given one to let the process do its work.
in the “paper” I read this morning it said that TRFC played their first round game in the cup late because of Ibrox being used for rugby. Although their first round tie was ultimately away from home, the arrangement was put in place prior to the draw being made. So, because TRFC might have been drawn at home (a 50/50 chance 😛 )it was agreed that they wouldn’t play at the same time as others (and instead were free to arrange a friendly in England – was it maybe v Derby?).
A couple of tweets from PMGB suggesting the SMSM are camped at Ibrox with a hint that it’s to do with pay day! Still, I suppose it could be news of a huge investment that has got the hacks milling. Heads it’s a new investment, tails it’s…
Campbellsmoney says:
August 28, 2014 at 4:43 pm
Cheers CM, all done for the benefit of Scottish football, of course. So, they get drawn away to a club that has to play the match at another ground, presumably because their own ground had been used for the Commonwealth Games. No wonder Ally likes to have games postponed, there always seems to be a silver lining somewhere.
It also seems to me that any advantage that TRFC have obtained by perhaps being given an opportunity of being seeded when they should not have been is reasonably small compared to the advantage that potentially accrues to being given the opportunity of playing a semi final or final at home.
Campbellsmoney says:
August 28, 2014 at 9:55 am
” Mr Duffy belongs to a school that says spend whatever you have (and probably what you don’t have). That school needs to be closed down.”
____________________________
Trust a Buddy to talk sense even when calling for a school to close 🙂
Seriously you are spot on. Duffy represents the mind that has caused the problem, that as an individual he has most probably benefitted from and so wishes that thinking to continue.
He is not alone in the media populated by many former footballers.
Problems cannot be solved with the same mind set that created them.”
Albert Einstein whose footballing career is unclear.
Allyjambo says:
August 28, 2014 at 4:45 pm
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A couple of tweets from PMGB suggesting the SMSM are camped at Ibrox with a hint that it’s to do with pay day! Still, I suppose it could be news of a huge investment that has got the hacks milling. Heads it’s a new investment, tails it’s…
===================
There is a guy on Twitter hinting the same and saying SFA were in the know two weeks ago.
John Clark says:
August 28, 2014 at 5:28 pm
================================
John, I agree and disagree re Archie. It is true he was of the ‘they’ve been punished enough’ brigade in 2012, and advocated Rangers be ‘kept’ in the top league. On the other hand it is also true that he has frequently called out the BBC for the blatant bias he witnessed during his time there. He had to act as mediator when Jock Stein banned the BBC at one time. What has always interested me is when the bias actually stopped.
On thing really sticks in my mind re Archie though. In 1993 Rangers had just had a very credible 1-1 draw away to Marseille in the first ever Champions League. As I recall they were a little unfortunate not to win, and were also in the midst of a 40 odd game unbeaten run at home. Celtic were in the doldrums and Archie openly questioned on Radio Clyde whether Rangers needed Celtic any more, and that the gap would never be bridged. I remember him saying it distinctly and it was the first thing to come to mind when he said two years ago, ‘don’t kid yourself, Celtic can’t survive without Rangers’.
In the interests of balance I think we should seek Arthur Montford’s view on the indy question
PS Whooft, a stramash!
RayCharlez says:
August 28, 2014 at 2:17 am
I was speaking philosophically and explained so but it could take blog of course which is why I suspect Big Pink philosophically sighed as he removed it. 🙂
Danish Pastry says:
August 28, 2014 at 6:43 pm
Out of the fire into the frying pan ……….
There was a discussion a week or two ago about the circulation of the regional papers. The six monthly figures for Jan to June 2014 were published yesterday. They don’t make great reading for virtually all titles, but the Scotsman, Evening News and SoS titles all look to have serious problems.
Title …. circulation …. yr on yr change
Aberdeen – Press & Journal 62177 -5.10%
Dundee Courier & Advertiser 48955 -6.50%
The Herald 37728 -8.10%
Aberdeen – Evening Express 34894 -9.20%
Glasgow – Evening Times 33397 -14.90%
Scotland on Sunday 30,297 -19.00%
The Scotsman 27208 -13.20%
Edinburgh – Evening News 25908 -14.10%
Sunday Herald 25,125 1.00%
Dundee Evening Telegraph 19766 -4.70%
Paisley Daily Express 6477 -14.40%
occam says:
August 28, 2014 at 6:58 pm
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Danish Pastry says:
August 28, 2014 at 6:43 pm
Out of the fire into the frying pan ……….
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Ah wiznae bein’ serious 🙂
I prefer Archie and Arthur as the fitba legends they are. Bless them.
John Clark says:
August 28, 2014 at 7:10 pm
1 0 Rate This
Danish Pastry says:
August 28, 2014 at 6:43 pm
‘.. I think we should seek Arthur Montford’s view..’
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Nice one, DP
———-
Arthur and Scotsport are my earliest memories of Scottish football. I’ve never forgotten him suddenly panning the camera to the sky above Firhill one night and exclaiming, ‘And there’s the Moon!’. Brilliant. And then there was the magnificent jaiket 🙂
Got a lot of time for Archie too, though.
SouthernExile says:
August 28, 2014 at 2:58 pm
‘..JC – and your point is what exactly?.’
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Southern Exile, just to let you know that I did reply to your post, (at 5.28 pm). The Mods possibly deemed it might trigger off a wholly irrelevant digression, because it has been removed. I’m happy to accept their ruling , but thought I’d do you the courtesy of letting you know I was not ignoring you. 🙂
So is George Soros at Ibrox or is Wallace walking away?
Can anyone explain why the Daily Record figures have once again not been reported? Is it regarded as an English publication?
Those circulation numbers are shocking.
Torquemada DR figs for FEB below, couldn’t find more recent ones
ABCs: National dailies, February 2014
▴
February 2014
February 2013
% change
January 2014
February 2014 (without bulks)
September 2013 – February 2014
% change on last year
.
Source: ABC
Daily Record 224,132 256,024 -12.46 227,639 222,158 232,696 -10.35
As you can see a significant drop in circulation
Posted on twitter by @TomSelleckCSC: Legia having a wee dig a UEFA tonight. Will it go unnoticed?
https://mobile.twitter.com/TomSelleckCSC/status/505066350847754241/photo/1
Thank you, scapaflow.
About 200k more than it deserves to sell. 😆
July figures for the National papers
http://www.pressgazette.co.uk/july-national-newspaper-abcs-all-titles-down-year-year-times-best-performing-second-month-running
Sunday Mail 230,912 -17.87
Sunday Post 213,956 -11.6
Daily Record 209,730 -16.02
easyJambo says:
August 28, 2014 at 8:26 pm
EJ, that looks terminal
mcfc says:
August 28, 2014 at 3:24 pm
3 1 Rate This
16 Sodium Atoms says:
August 28, 2014 at 2:57 pm
In an ideal World they would sell the subsidiary, or even give it away and simply become a property company.
===================================
I think we were talking at slightly crossed purposes. I meant the property being sold off by TRFC/RIFC to raise cash and then rented back to TRFC. I think you see TRFC being sold off and renting the property from RIFC. Either scenario involves an external party investing new money – otherwise it is just rearranging the deck chairs on the Titanic. I don’t see who would buy either the property or TRFC – both propositions are deeply flawed except to a billionaire bear with money to burn – so there have been no takers – I’m sure they’ve already tried every possible punter.
,,,,,,,,,,,,,,,,
I suspect the end game will be something along the following lines
An offshore Spiv co buys RIFC for an undisclosed sum (possibly £1)
RIFC transfer the property and onerous contracts upwards to its offshore parent It effectively becomes a shell co wholly owned and controlled by hard to reach Spivs who can`t be confronted by the Loonies
Concurrently
RIFC commit TRFC to an onerous property lease for decades. They add more onerous contracts where this is possible
They fire the Manager on performance grounds and let him sue them for the balance of his salary.
Costs are ripped out of TRFC irrespective of the impact on the team. Fans can either take it or leave it
TRFC friends in high places continue to help out by bending the rules,fiddling cup draws, and renting the stadium at every opportunity
But it has little impact
TRFC settle down for a couple of decades as a Championship or bottom half SPFL club with average gates of around 15k – 20k winning the occasional trophy
GoosyGoosy says:
August 28, 2014 at 8:35 pm
…TRFC settle down for a couple of decades as a Championship or bottom half SPFL club with average gates of around 15k – 20k winning the occasional trophy
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And they all live happily ever after? 😈
So Phil, what’s the news after your earlier tease? Wallace to walk? What about Nash? Is this the beginning of the end?
Scottish Football needs a strong Arbroath.
Exclusive
Mike Ashley to go ten rounds with Charles Green at Ibrox for the right to invest billions into The Rangers – Dave King in the Ashley corner and George Soros seconding for Green – you heard it here first.
I’d pay real money to see that !!!
On the newspapers front,The Herald claims ” [but] online audiences have increased by 49%, resulting in a total audience increase of 39% to 2.27 million each month.With paid-for subscriptions to heraldscotland.com rising by 135 per cent and mobile app subscriptions increasing by 269% year-on-year to July 2014, The Herald has also enjoyed continuing growth in paid readership across both print and online”
Personally,I haven’t a clue how to assess what these percentage increases actually mean in terms of revenue , whether from subscriptions or from advertising.It doesn’t help that they don’t give the figures on which the percentage increases are calculated!
Do these newspapers publish their actual accounts? It would be interesting to see how financially secure they may be.
I’d like to wish the East Fife suporters all the best, in their efforts to bring their club into community ownership
John Clark says:
August 28, 2014 at 10:04 pm
0 0 Rate This
On the newspapers front,The Herald claims ” [but] online audiences have increased by 49%, resulting in a total audience increase of 39% to 2.27 million each month.With paid-for subscriptions to heraldscotland.com rising by 135 per cent and mobile app subscriptions increasing by 269% year-on-year to July 2014, The Herald has also enjoyed continuing growth in paid readership across both print and online”
Personally,I haven’t a clue how to assess what these percentage increases actually mean in terms of revenue , whether from subscriptions or from advertising.It doesn’t help that they don’t give the figures on which the percentage increases are calculated!
Do these newspapers publish their actual accounts? It would be interesting to see how financially secure they may be
,,,,,,,,,,,,,,,,,,
A word of warning to anybody considering taking out an online subscription using an Ipad or Iphone
1.Apple already have your bank details if you have ever bought anything. They NEVER ask for this info again
2 The usual subscription offer is click for a one month free trial.No information is given on how to cancel the subscription during that first month or indeed at any time thereafter On the day after the month ends and without telling you,you are immediately debited with a one year subscription This cannot be cancelled for 12 months
To cancel a subscription during the first month or thereafter you need to click the APP icon on your start up screen, click log in your apple ID, click “Manage subscriptions” and cancel auto renew on the next screen
Despite doing this you will continue to receive unwanted messages from the newspaper unless you also delete the icon on the Home Screen.Press and hold the icon until it starts shaking and then click the little “X”
John Clark says: August 28, 2014 at 10:04 pm
Do these newspapers publish their actual accounts? It would be interesting to see how financially secure they may be.
=========================
Johnston press own The Scotsman, Evening News and Scotland on Sunday as their main titles in Scotland.
Helpfully they announced their half yearly accounts to 28th June earlier this month.
http://d2j018g7nrzyo3.cloudfront.net/sites/default/files/Johnston_Press_Interims_2014.pdf
Johnston Press, as you often find with companies accounts, put a positive spin on all their good news and tend to ignore the bad.
They claimed that Digital advertising revenue was up £2.7M(23.4%) to £14.1M. All well and good, but Digital advertising only represents one sixth of their total advertising revenue.
What they were more reluctant to say is that Print Advertising fell by £7.2M(9.2%) to £70.8M.
Note that they reported a loss of £228M in 2013 (much of it was write downs and restructuring costs) but claim a profit of £24.9M for the first half of 2014.
rougvielovesthejungle says:
August 28, 2014 at 10:01 am
“… but surely I’m not the only one intrigued as to the identity of one of your favourite bands?”
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I am afraid that musically I lack the modernity that I espouse in a sporting genre. Though I’ve come across the likes of Teenage Fan Club I pretty much threw out my stereo (that’s what it was called back then) in the mid 1980’s. I’ve wrapped myself in the warm eiderdown of nostalgia since then.
If you want a classic example of how left field my musical heroes were capable of being check out the completely tuneless ‘Several Species of Small Furry Animal Gathered Together in a Cave and Grooving With a Pict’.
Castofthousands says:
August 29, 2014 at 12:02 am
That brings back memories of a girlfriend from that period who wouldn’t stop singing “I am a mole, and I live in a hole” feck, it’ll be rattling through my head all night now
*SLAM-DUNK
CoT, excuse me if I allow myself a small, self-congratulatory smile. As I was reading yesterdays’ post about the experimental band I couldn’t help but think, ‘Which one is Pink?’!
At the risk of being off-topic and accusations of derailment, which album do you consider to be the ‘crossover’? Meddle?
Danish Pastry says:
August 28, 2014 at 8:23 pm
7 0 Rate This
Posted on twitter by @TomSelleckCSC: Legia having a wee dig a UEFA tonight. Will it go unnoticed?
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Hopefully not, because other clubs get punished for banners of this nature. If you look at the picture it’s also having a dig at Celtic. Legia have lost all credibility in my view with their continued stance on this. I guess the two clubs getting each other in the draw today would put an unwanted cap on the situation.
From @timomouse on twitter
upthehoops says:
August 29, 2014 at 7:15 am
0 0 Rate This
Danish Pastry says:
August 28, 2014 at 8:23 pm
7 0 Rate This
Posted on twitter by @TomSelleckCSC: Legia having a wee dig a UEFA tonight. Will it go unnoticed?
=====================================
Hopefully not, because other clubs get punished for banners of this nature. If you look at the picture it’s also having a dig at Celtic. Legia have lost all credibility in my view with their continued stance on this. I guess the two clubs getting each other in the draw today would put an unwanted cap on the situation.
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Rhetorical from me. I can not believe it will go unnoticed. Bit of a fine coming their way, you’d think. Maybe UEFA will view it as a second offence and boot them out? (I jest).
The text they have is right enough, but they are pushing the correct message on the wrong issue. They are beginning to make themselves look very foolish. They are only protesting so much because of money, too.
The share offer.
‘If the aggregate level of subscription is less than 15,000,000 New Ordinary Shares the Open Offer will not proceed and subscription monies will be returned to applicants. Should this occur, the Company will be unable to pay its creditors as they fall due and the future of the Company will be uncertain; The Directors will immediately have to seek emergency financing which may or may not be available.’
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Is this the beginning of the end that has been carefully plotted by , for example, Laxey Partners? A fine show of willingness to keep going, but ready to smile ruefully when no one else is sufficiently willing to invest? ” We did our best but…”
So – they’re hoping to (part-)repay the outstanding (and overdue as of Monday, so presumably they’ll be in default) £1.5m Letham & Easdale loans from the (maximum) £3.6m they hope to raise… Wonder if Imran has been on the phone to his advocates?
There’s the effect of the season book strike… or SuperAlly’s exquisite product on the park… or both. A 1/3 non-renewal rate… lots of people doing walking away.
Looking forward to reading that – particularly Part III – when it is published “today”
Market seems neutral/negative on this announcement – shares down 4% in early trading… and if that drops below the offer price – why buy 5 for a pound from the board when you can buy >5 for a pound on the open market?
John Clark says:
August 29, 2014 at 8:16 am
2 0 Rate This
The share offer.
‘If the aggregate level of subscription is less than 15,000,000 New Ordinary Shares the Open Offer will not proceed and subscription monies will be returned to applicants. Should this occur, the Company will be unable to pay its creditors as they fall due and the future of the Company will be uncertain; The Directors will immediately have to seek emergency financing which may or may not be available.’
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Is this the beginning of the end that has been carefully plotted by , for example, Laxey Partners? A fine show of willingness to keep going, but ready to smile ruefully when no one else is sufficiently willing to invest? ” We did our best but…”
———-
That’s a very ominious quote JC, jumped out at me too. But how do Laxey, or any proper investor benefit? Their share price nose-dived, current holding now being diluted (unless they waste, sorry, invest more cash).
Straight to voluntary liquidation? Or Dave King riding in on his white horse called ‘Sugar Daddy’?
The above is a stunning statement from RIFC.
So a member club’s future is, by its own admission, hanging by a thread, and there is a clear possibility that they will be unable to see out the season (or even Christmas). If the share offer fails to raise £3m, then the game is, indeed a bogey. What do we expect the reaction of the authorities to be? Will they follow the Livingston precedent, and demand a large sum of money up front to indemnify the other clubs? That’s a rhetorical question, by the way, and we all know the answer. The fabric of society must be treated differently from “ordinary” member clubs, we all know that now, so the response of the SFA/SPFL will be interesting indeed. Perhaps the Ogilvie-run SFA will underwrite the share issue- solely in the interests of the game, of course. Would you put it past them? I wouldn’t.
“The Company announces that it will raise up to £4 million (before fees and expenses)”
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Would much actually be left after fees and expenses, if last time is anything to go by?