Reflections on Goalposts


Spivs in a Poke The flaw I see in the leaseback …

Comment on Reflections on Goalposts by m.c.f.c..

Spivs in a Poke

The flaw I see in the leaseback plan is that at some stage, to cash out, the spivs need to sell their property company to a “real property company” with a sitting tenant that is a husk of a football club and with dubious property redevelopment potential if that tenant – the only possible tenant – does not survive.

Let’s remember that post Admin the The Rangers would have zero property assets, little to zero merchandise income, no squad, no manager, no backroom staff, hefty rent, little prospect of promotion and a material chance of relegation. My guess is that the spivs will arrange Admin after ST time so the first year of The Rangers may include honouring STs sold pre-Admin for zero money (caveat emptor) or asking fans to buy a second ST for the season.

Remember that each £1m/year of rent/repair will cost the revenue from 5,500 STs at current prices (after VAT). So just to open the doors may cost 15,000 season tickets before a single player has been signed.

There may be real property companies out there willing to take a punt on those odds – but they’d have to be particularly optimistic.

When you have eliminated all which is impossible, then whatever remains, however improbable, must be the truth. To my mind that means that the current spivs own a pig in a poke and that there is no obvious champagne moment for them.


Bears – caveat emptor – will an ST bought before the season starts survive Admin. Pay-as-you-go could be a wise move.

Could the “real property company” be an IPO to the only investors optimistic enough to believe in a glorious future for The Rangers – the bears – roll up, roll up for the great Ibrox IPO.

m.c.f.c. Also Commented

Reflections on Goalposts
Jack Jarvis says:
January 29, 2014 at 4:46 pm

My apologies to you m.c.f.c. and to TSFM if my replies in any way veered towards “paying the man”. I was having difficulty remaining restrained and polite in the face of what I perceived to be unwarranted criticism and sarcasm. I do not possess Ecobhoy’s capacity for tolerance and understanding. Those still need a bit of work, as does my writing style.
Jack – my apologies if I have misinterpreted your position and poured on unwarranted criticism and/or sarcasm . It seemed to me that you were heading towards “sustainable business, too big to fail, nothing to see here, move along”. The accounts in October set the course for the finances and there have been no visible structural change – so although bits and bobs have changed, the destination is pretty much determined – give or take a month or two – or a sugar daddy – or a fairy godmother.

I’m sure the SFA will do anything and everything they can to help, but my guess is that three good cup runs are already factored into the balance sheet – and we know how that worked out for Ally last time when his contribution was make or break.

To my mind, the holy grail of getting to ST time just gives the spivs a bit of breathing space and a bit more cash to plunder. Specifically, it does not get them anywhere near the end of next season without a dramatic reduction in burn rate.

Reflections on Goalposts
Not The Huddle Malcontent says:
January 29, 2014 at 4:42 pm

I’ve seen a post suggesting it cost £1.65M, holds 500 cars and charges £7 a time
Don’t forget the 100+ places reserved for the squad, staff and hangers-on. didn’t Craig demand £1m/yr, a place in the directors’ box and a secure (very secure) parking space ?

Reflections on Goalposts
scottc says:
January 29, 2014 at 4:37 pm

The ‘tradition’ is that the directors of the opposing team at the first game of the New Year join in the ceremony. This year, that was East Fife
cheers – you learn something every day – I didn’t hear them mentioned – but I did miss the different tie .

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Campbellsmoney says:
February 12, 2014 at 1:49 pm
I should fess up – I am not really in Samoa. I just wanted to say somewhere over the dateline.
One of my favourite sports ‘quotes’ of all time: Western Samoa beat Wales 16-13 in their 1991 Rugby World Cup group match at Cardiff Arms Park, giving rise to the welsh quip: “Thank goodness we weren’t playing all of Samoa”.

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Tartanwulver says:
February 12, 2014 at 1:22 pm

It’s not just about having suffered ingratitude for letting Rangers back in the last time, its about fear of what might happen if they don’t let it happen again.
I’m sure the SPFL will help them out of the next Admin event – as the path of least resistance and most convenience and living in the hope that things can return to “normal”. But “normal” was never normal and is never coming back. I strongly believe that if The Rangers do not adapt quickly to their new place in the 21st century, they will self destruct and the SPFL will get bored with them .All the evidence indicates they are not adapting. As for intimidation by psychopaths in the name of football – that’s a wider and more serious social issue.

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Corporate Death Spiral

When an organization organizes its affairs around its internal needs / convenience / comfort to the detriment of the people and organizations that provide its revenue, it is choosing to put itself at a strategic disadvantage to other organizations, similar and dissimilar, that wish to earn that same revenue from those people and organizations.

Or in other words – piss off paying customers, sponsors etc and they’ll find somewhere else to spend their money – and not just elsewhere in your industry. The SPFL is becoming a case study of death by introversion.

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ParanoidWellFan says:
February 12, 2014 at 12:41 pm
However, The Rangers will never be ‘of inconsequential commercial value’ to the SPFL due to the size of their fanbase.
The fanbase depends on the Big Club Rangersness and TRFC can’t afford the Big Club Rangersness. They can either adapt to this new reality or stumble from Admin to Admin until they finally die. All the current evidence suggests they are not adapting.

Bigger organizations than The Rangers have died before and will die again.

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Carntyne says:
February 12, 2014 at 12:38 pm

The only thing that might prevent Third Rangers is total financial insolvency.
Carntyne – they have a £10,000,000 / year overspending habit and have not responded to rehab. Their institutional dealers have scarpered, Institutional methadone has been withdrawn and eventually they will alienate their friends and family. The trajectory that follows is sad but 99.9% inevitable. The only chance of redemption is cold turkey and an entire change of lifestyle, associates and environment. There is a very slim chance that one day we’ll all be getting lectured on fiscal probity by The Clean Rangers – a very slim chance.

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