As we all know, this site emerged from the ashes of RTC. The wish of the original administrator of the site, one which I wholeheartedly share, was to keep together the wonderful community RTC had built, in terms of both personnel and spirit. There are still many individuals around who were also part of RTC, and regrettably many who are no longer with us. The RTC spirit however, that of a cross-party football site where issues can be discussed in a respectful and insightful manner remains. The “wisdom of the crowd” phenomenon is also with us to perhaps an even greater extent than before, and consequently SFM’s credentials as a formidable alternative to the print media have grown.
In recent times, many contributors have expressed frustration that we are pretty much a talking shop and little else; characterised as “a lot of gum bashing and no teeth”. I think that is fair comment up to a point, but then again our aim – up to now – has been to simply present an alternative view – a view that has increasingly become the fan view as opposed to the industry view (the industry being made up of club officials, players, and press).
In fact the way I see it personally, SFM has evolved to a point where it has become the watchdog (monitor if you will) of an industry which is subject to very little oversight. The Rangers situation will eventually be done with (no laughing at the back please), and like everything else will be consigned to history (albeit more than one). The same self-interest and lack of regard for sporting integrity though will still remain, and the need for oversight will remain also.
Having arrived at those conclusions, we have two alternatives; the first is to remain as we are (which is not a bad place to be), and the second is that SFM has to expand its role.
In recent weeks, the mods have met to discuss this, and we think that we ought to give the latter option a try. As to how we want to achieve that, and we have come up with a skeleton plan as follows;
1. We need to move into the area of gathering news content as well as commenting on what appears elsewhere;
2. We should act as a cross-club portal to get good fan site content from all clubs to a wider audience;
3. We need to highlight the positives in the game as well as the negatives;
4. We should become an actively campaigning body, aligning with fan groups to lobby for the changes we think important.
In order to achieve these objectives, more time will need to be spent on communication like podcasts, adding news content, expanding membership and building links with other fan groups. Time will also need to be spent setting up features, attending press conferences etc. Later in the year, one of the mods will have much more time on his hands to help achieve this.
Podcasts, premium content, labour, organisation and all of the above costs money, and ultimately a subscription based model backed by sponsorship seems to be our best way of achieving that. In order to give us a head start, we will in the next few months be putting together a business-plan and a pitch for Crowd Funding investment.
This is not to say that our existing model has been a failure. We have successfully managed to keep ourselves afloat through the ad-hoc generosity of people in our community, although the inability to keep the podcasts going has been a bit frustrating. Finding income streams which are more solid will allow us to respond to events more quickly (for example mounting an ad campaign to respond to some event or other, or buying new equipment), and hopefully achieve all of our objectives – and build a bigger audience base for our message.
Of course a move of this nature will require that, in the interests of transparency, anonymity of SFM will have to be set aside. That will not affect any of our contributors, and our practice of using (sometimes) imaginative names on the blog will remain. However, for crowd funding to be successful, we will require to have a board in place, and there is no hiding place from Companies House. The make up of the board is also crucial, and in addition to consideration of blog members for that role, we will be looking to have respected people from without.
I imagine there may be a consequent subtle effect on moderation policy to take into account.
The reason I have made this post is to keep the community up to speed with events. Although we have decided to move forward to see if we can get support for our business plan, that plan is by no means finished. As I said earlier, the “wisdom of crowds” has made our community unique and given it its credibility. There’s a lot more wisdom out there we hope to tap into before we go ahead with our initiative.
We already had someone in mind for chairman of the new board, but events have conspired tragically to rob us of that – and had the effect of postponing this announcement. However we would like to hear suggestions for suitable outside candidates for board and committee places.
We also want to hear from you if you have a suggestion to be added to our wish list of SFM function above – or even if you think it is a mistake to embark on this course.
This is a very big move for SFM, so we don’t want to rush into anything. We need to listen to what you folks have to say, because if the merging SFM is not considered a better SFM by our community there is very little point in looking to fund it.
Edit: Blazer’s testimony to the Grand Jury.
http://big.assets.huffingtonpost.com/blazer.pdf?ncid=newsltushpmg00000003
You can start reading from page 29 onwards.
It seems that the first bribe he took was in connection with the bidding for France 98. With Michel Platini one of the organisers for that tournament, it could be an interesting side show.
EJ
Seems his outfits on a wee acquisition spree tho.
Hence maybe dosh tied up?
Just my guess.
Cluster One says:
Member: (172 comments)
June 3, 2015 at 10:08 pm
Another question,sorry.
If the board don’t pay back the £5 mill,and Ashley holds security over the carpark,Edminson house and murray park.And it goes to court to be settled will these security’s be frozen and not be able to be used until the court case is finished.Also how will that go with the security over the badges,and trademarks could they be frozen and not used until court case is finished ?
===========================
Ashley can’t go to court unless and until TRFC default on the loan. If the loan is interest free with no fixed term, then on the face of it, it is hard to see how there could be a default. However I would be surprised if Ashley is unable to recall this loan, I think PhilMacGB has indicated that TRFC are already in default, but without seeing a copy of the loan agreement, I can’t really comment.
If there has been a default, then Ashley can demand immediate repayment and if it isn’t forthcoming, then either put the company into administration, or maybe seek to enforce his securities by repossession via court action, but an insolvency would be the obvious way to go.
As regards badges, trademarks, etc, Ashley currently owns these 100%. TRFC can get them back by repaying the loan. The same applies to a 26% interest in Rangers Retail- Ashley owns those shares until the £5m loan is fully repaid.
ianagain says: June 3, 2015 at 10:46 pm
EJ
Seems his outfits on a wee acquisition spree tho.
Hence maybe dosh tied up?
Just my guess.
=====================
Every possibility, although we know that he has offshore investments and probably a fair bit of cash stashed away to keep the wolf from the door.
The biggest constraint on any substantial investment in RIFC may well be the visibility of it by SARS, which could prompt further investigation of where the money came from.
I think the best DCK could negotiate on the retail deal would be a happy ending story. Something to get the fans to buy jerseys, because lets face it…..If the fans don’t buy them, Sevco do.
Maybe they could get Houston to try and sell them to the punters for a pound. Mick could then have his revenge by sending his shop workers around to his stall to unfold them, before offering 50p and walking away giggling like school-kids. 😆
neepheidneepheid says:
Member: (604 comments)
June 3, 2015 at 10:59 pm
—–
The default could refer to the two places on the board under the first tranche agreement. Obviously Ashley wanted L&L as his men on the board so the new regime’s pointed resolution to get rid of them AND then not welcome replacements could easily be seen as defaulting. PMG has reported interest payments in default – naturally all the detailed term were not made public – but expect most to be in Ashley’s favour given the circumstances of the loan
neepheid says:
Member: (604 comments)
June 3, 2015 at 10:59 pm
Cluster One says:
Member: (172 comments)
June 3, 2015 at 10:08 pm
_____________________________________________
My bet: This is a Michael Corleone (MASH) and Pat Geary (DCK) situation.
TRFC have defaulted on the RRL contract.
MASH has them by their ‘progeny bag’ in his vice and their broken arm twisted up behind their backs, and they are still mouthing off about him.
So he is now playing to the crowd.
“I am a reasonable man. Its just business etc.”
The resolution is to show that they have neither means nor intention of paying him.
The day after the resolution is refused, he will call in his loan, and a winding up order will follow, unless they deal with him to his advantage.
MASH is thinking ahead. Had he done this without first making it crystal that DCK was being given every opportunity to ‘put up’ or ‘play nice’ then whatever carnage followed could have been used against him by those who would compete against or seek to damage him in any ‘restart’ situation.
Whereas, if the resolution is kicked out by the board, and insolvency results, it toxifies the elements that oppose him instead.
See its not enough to beat your opponent. They have to stay beaten.
MASH understands this.
DCK, not so!
Outcomes: DCK exits or DCK accepts playing ‘Stockholm syndrome’ to MASH’s kidnap.
The parallels with the EBT situation are interesting. RFC set out to deliberately cheat HMRC with legal shenanigans.But HMRC grind away. Every victory for RFC is heralded as a victory, Every appeal is geologically inexorable.The wheels of justice turn slowly. And HMRC thrive off the uncertainty of the outcome as much as it paralises those who cheated them. Because the point where RFC and successors wish they had never set off down this road of being too clever to pay tax in the first place has long since past. HMRC have a body swinging from the lamp post to use as an example to others, despite having as yet been far from successful on all their appeals.
The clear message: Aggressive tax avoidance? Not worth it! Heads we win. Tails you lose.
Oh: and trying to stitch up Mike Ashley: Not worth it either:
Rangers THEN. Sevco NOW. but Sports Direct FOREVER, I think you’ll find.
Caught up with the ‘Wednesday night’ guys in the pub Tonight: Discussion Topics as follows:
EVERYONE was at the game Saturday.
No pone without a valid excuse was not there.
Caley Should have nailed it in 1H.
Had Falkirk lifted the cup on their 2H performance no one there would have begrudged ’em it. They were immense for 20 mins of 2H
Quality and fitness ground them down in the end we think.
But Caley were edgy and not at their best.
Not the best ‘footballing’ spectacle for the neutral, but a good game to watch neverthless.
Last 10 mins lasted longer than the first 85 and the journey down combined.
Caley got away with it. Somehow.
Relief when the final whistle blew. Jeezo!
Fantastic turn out.
Cracking atmosphere.
Great affinity between the fans before and after the game.
Mention of some Falkirk players that we would love to see at the Tulloch.
Loads of kids at the game.
Caley’s pre-kick banner display off display was the mutts nuts.
St. Johnstone opened their ground up to sell pies/ toilet stop for Caley fans for the journey up and down 🙂
Not out of any vested interest in the outcome, of course, 🙄 but it was a warm gesture and genuinely appreciated. Genuine Friendships made there.
It was a lovely weekend.
To Falkirk fans I say this:
We know how you feel. Our undying respect is the only consolation we can offer I am afraid.
Your team did you proud. We were lucky to get past them, on the day.
GoosyGoosy says:
Member: (406 comments)
June 3, 2015 at 12:41 pm
“…If only it said Regan exit ‘a huge step’ –
Stewart Regan`s resignation as Chief Executive of SFA is welcomed by FIFA President Sepp Blatter..”
_____________
If only!
Let me first of all say that I am now back in Caledonia.
Mrs C and I jetted in to Glasgow earlier this evening.
I had a tear in my eye at leaving our lovely grandchildren and their mum and dad, with whom we had spent 4 and a half months of family living in suburban Brisbane(fine city, Brisbane.And I’m happy, incidentally, for Gabby that he had such a wonderful trip to see ICT win-albeit with a wee bit of a struggle)
We stepped off the plane , and I got a tear in my other eye when I read in “The Scotsman” what the redoubtable Jamie Hepburn, MSP and Minister for Sport, Health and Mental Health, had to say, in welcoming Blatter’s decision to stand down:
” ..As President, Sepp Blatter is responsible for what happens at FIFA. I welcome his resignation, and hope that it signals a fresh start for FIFA, and that a change of leadership will help FIFA to begin to recover its reputation and regain our confidence in the way the global game is run. Recent arrests of senior officials on charges of alleged corruption are deeply concerning for anyone who cares about football…….. I support the calls of Stewart Regan, chief executive of the Scottish FA, for fundamental and urgent changes to the way FIFA is governed.”
What IS it with politicians who want to get involved with the state of global governance of football, when there’s a muckle great pile o’ sh.te on their own doorstep that needs cleaning?
Where is the Scottish government’s interest in the mis-governance of Scottish Football amid the allegations of latent incompetence, complicity in fudgy shenanigans and funny, secret 5-Way deals to protect a club that cheated beyond measure?
What has Minister Hepburn to say about the wave of anger that still runs through Scottish Football at the thought of the sheer bloody cheek of SDM, relying on God knows what contacts he had in the SFA, in banking, aye, indeed, in the political world and even, God save the mark, in the legal world, to think that he could rip us all off for millions by cheating the rest of Scottish Football? ( The question of whether he ripped off the tax-payer has still to be decided, of course.But there is no doubt that RFC deceived the SFA and the SPL over the question of how they were paying their players).
Will I write to Minister Hepburn?
No worries, mate.
A letter will be written tomorrow, or rather, later today. ( I’m wide-awake, and, sadly, not a Fat Yak within 12000 miles!)
Welcome back to your “rightful place” John Clark(e) 😉
I’m looking forward avidly to reading your letter. 😀
easyJambo says:
June 3, 2015 at 11:09 pm
Every possibility, although we know that [King] has offshore investments and probably a fair bit of cash stashed away to keep the wolf from the door
————————————————-
The wolves may have to wait in line, he may need to splash a bit of the stash to keep the bears away from his door.
Good Morning
Early start in Clumpany Towers today. I was reviewing the coverage of the Sevco managerial race and it really is one of the worst examples of baseless spin I have seen throughout this entire saga.
It seems that there is actually almost nothing to report. However, at some point, season tickets will need to be sold and so the impression of “exciting developments” must be created by the PR machine.
I feel a bit sorry for McCall. He is still the manager, but he’s being talked about as if he is already a goner. And it can’t be nice to see Mark Warburton being asked about (and offering a comment on) the Sevco manager’s role.
The ‘ire’ of my latest offering is all about this baseless spin and the way that the MSM fails to provide any real ‘service’ to anyone interested in who will be the next manager at Ibrox.
https://theclumpany.wordpress.com/2015/06/03/the-knackers-yard-donkey-derby/
Have a great day!
John
I am glad you enjoyed your stay in Brisbane, haste ye back.
Gabby
Season tickets on sale today,anyone?.
TheClumpany says:
Member: (46 comments)
June 4, 2015 at 6:49 am
Hi Clumps, good summation of…nothing much 😉 an ethereal hunt for an ethereal manager for an ethereal club, perhaps!
Interesting to make a quick comparison with the two clubs TRFC battled it out with at the top of the Championship, how’s their ST sales going?
On the face of it, pretty good and OK! Both set of supporters know who their manager and backroom team are for next season. One set are still on such a high that season tickets are flying off the shelf despite no new faces with a few popular players leaving. They all believe, and believe in, the management.
At the other club, their disappointment in failing to gain promotion has been countered, to some extent, by the speedy signing up on an extended contract of a leading player from last season and a very good young striker from their rivals.
The stuff STs are sold on!
Meanwhile at Ibrox…
Note to the SMSM, perhaps there lies a wee story for you. Instead of peddling the Ibrox PR, why not highlight what’s going on at the clubs who also failed to gain promotion, how are they coping with the disappointment? Of course, highlighting good news elsewhere might not help the Level 5 spin machine!
http://www.bbc.co.uk/sport/0/football/33001278
BBC eager to report ‘news’ of what is happening at TRFCLTD or is it RIFCPLC ??
I don’t remember the BBC covering the story of Celtic shareholders ‘resolution’ to do with the SFA/UEFA licence for champions league in 2011 – I maybe wrong !?
John Clark says:
Member: (878 comments)
June 4, 2015 at 2:47 am
“A letter will be written tomorrow, or rather, later today. ( I’m wide-awake, and, sadly, not a Fat Yak within 12000 miles!)”
——————————————-
Closer than you think…free wifi too so you could always write your letter from there.
https://www.walkaboutbars.co.uk/venues/glasgow/drinks_menus
Resin_lab_dog says:
Member: (439 comments)
June 4, 2015 at 1:23 am
Caught up with the ‘Wednesday night’ guys in the pub Tonight: Discussion Topics as follows:
EVERYONE was at the game Saturday.
No pone without a valid excuse was not there.
Caley Should have nailed it in 1H.
Had Falkirk lifted the cup on their 2H performance no one there would have begrudged ’em it. They were immense for 20 mins of 2H
Quality and fitness ground them down in the end we think.
But Caley were edgy and not at their best.
Not the best ‘footballing’ spectacle for the neutral, but a good game to watch neverthless.
Last 10 mins lasted longer than the first 85 and the journey down combined.
Caley got away with it. Somehow.
Relief when the final whistle blew. Jeezo!
Fantastic turn out.
Cracking atmosphere.
Great affinity between the fans before and after the game.
Mention of some Falkirk players that we would love to see at the Tulloch.
Loads of kids at the game.
Caley’s pre-kick banner display off display was the mutts nuts.
St. Johnstone opened their ground up to sell pies/ toilet stop for Caley fans for the journey up and down 🙂
Not out of any vested interest in the outcome, of course, 🙄 but it was a warm gesture and genuinely appreciated. Genuine Friendships made there.
It was a lovely weekend.
To Falkirk fans I say this:
We know how you feel. Our undying respect is the only consolation we can offer I am afraid.
Your team did you proud. We were lucky to get past them, on the day.
………………………………………..
I guess you don’t mean ‘Caley’, but Inverness Caledonian Thistle?
I’m not a highlander, but I have friends up there who were ‘Thistle’ fans prior to the merger and do not like hearing ICT called ‘Caley’ as both ‘Caley’ and ‘Thistle’ no longer exist !!
Even those with the strongest mental defences against reality are beginning to notice that all is not quite as promised:
Gentlemen of the board: get your fingers out
http://www.ibroxnoise.co.uk/2015/06/gentlemen-of-board-get-your-fingers-out.html
Refreshing to hear Gordon Waddell of the DR tell it how it is down Govan way on Radio Shortbread last night.
Spiers took the middle ground as usual and Wilson gave us the Jim Murphy type passive aggressive tones of it will be alright because there are plenty RRM around with dosh to splash.
Waddell however kept going for the jugular highlighted the total lack of leadership and direction pointing out the pre-season is not that far off and there has apparently been no decision made yet as to the structure of the footballing side of the business. Do they want a Director of Football and a coach or a old style manager? If the former then surely the DoF has to be appointed before the coach of you get a Keegan /Wise situation.
The thrust of the argument was that Waddell felt they were no further forward than when they played Brechin three years ago and why the hell would fans part with season ticket money when they don’t know what they are getting at the end of the day. Even if the wheels do get in motion shortly they are already a few steps behind some of their Championship competitors.
Wilson seemed to believe this was not just the Dave King show but seemed to think the 3bears also had cash to burn.
I for one don’t think they have the quantum required to meets King’s Moonbeams dreams, so fans are in for a shock when investment levels are on the more reasonable side.
Launching new away kit when there are so many more important issues that need attention and public leadership. Or is it just a contractual commitment to Rangers Retail that the board have no control over. Wouldn’t you love to know their sales projections – and how many are in the warehouse – to be paid for at full price if not sold. In fact that kind of liability could be considered a kind of debt really – couldn’t it? That might impact on any “going concern” assessment – couldn’t it?
http://www.rangers.co.uk/news/headlines/item/9417-rangers-reveal-away-kit
There is a club in Govan where only one part of its name is used which does causes Caley type issues for TUPED over previous club fans.
mcfc says:
June 4, 2015 at 10:16 am
Quite like the look of the red stripe – very striking.
The question is now many strips is that they have launched now?
Can’t see it selling as well as the special ‘Back where we belong’ version that has been but on the back burner.
Red and black is an intriguing choice of colours given that the RST and others are selling shirts, scarves, etc with that theme as an alternative to the official merchandise.
Re: the Ibroxnoise link above. I was aware that Park et al. had provided two separate 1.5m loans to cover payday, but the linked blog says King has provided a 1.5m soft loan himself. Has that happened?
mcfc says:
Member: (1332 comments)
June 4, 2015 at 10:03 am
Even those with the strongest mental defences against reality are beginning to notice that all is not quite as promised:
Gentlemen of the board: get your fingers out
http://www.ibroxnoise.co.uk/2015/06/gentlemen-of-board-get-your-fingers-out.html
————————————————————–
————————————————————–
————————————————————–
The Noise – Must try harder.
As of last night Dumbarton had signed 4 new players.
Grant Gallagher (Stranraer)
Gregor Buchanan (Dunfermline)
Kevin Cawley (Alloa)
Darren Miller (Queen’s Park)
Gallagher and Cawley are both ex-Celtic Youth.
English Premier League clubs achieved record revenues and profits in 2013-14, as increased TV monies and Financial Fair Play rules took effect.
A new report from analysts Deloitte says combined revenues soared by 29% to £3.26bn, and the clubs made pre-tax profits of £187m, the first since 1999.
It may mark a turning point in football finance and “a new age” of significant profitability for top clubs, they said.
League revenues were more than in Spain and Italy’s top divisions combined.
And England’s top division also generated in excess of £1bn more in revenues than its nearest rival, Germany’s Bundesliga.
‘Transformation’
As well as record pre-tax profits, operating profits increased by £532m – a huge 649% – to £614m, and smashing the previous record by nearly £430m.
“The transformation of Premier League club profitability will fuel even greater global investor interest in Premier League clubs,” said Dan Jones, head of Deloitte’s Sports Business Group.
Television cameraman films the action during the Premier League match between Leicester City and Crystal Palace at the King Power Stadium
New TV deals have helped boost the finances of Premier League clubs
“With significant future revenue growth already secured through the recently agreed domestic broadcast rights deals from 2016-17 to 2018-19, as well as the success of cost control regulations, the risks associated with investment in Premier League clubs seem to be diminishing.”
Broadcasting revenue accounted for 54% of the league’s total revenue, the highest proportion from any revenue stream in the history of the division.
And the broadcasting bonanza is to continue, with the deals commencing in 2016-17 “already confirmed to be 70% higher than the current deal”.
Cost control
Meanwhile, Mr Jones said that Financial Fair Play “could be the most significant development in the football business since the Bosman ruling. Early signs are that this is the case.
“Indeed the change in club profitability in 2013-14 was more profound than anything we could have forecast”.
Uefa president Michel Platini
Uefa introduced Financial Fair Play to ensure clubs lived within their means
And the league’s wages to revenue ratio – always a concern – fell dramatically from 71% to 58%, the lowest since 1998-99.
Mr Jones said that with the Uefa Financial Fair Play requirements continuing and the Premier League’s own Short Term Cost Control measure currently in force for 2014-15 and 2015-16, the wages to revenue ratio should remain close to or below the 60% threshold.
However, he said that while the Premier League was in “rude financial health”, that had not been translated into Champions League success, with no team in the final since Chelsea’s victory in 2012.
line
PREMIER LEAGUE FINANCES 2013-14
Club revenues ranged from £433m (Manchester United) to £83m (Cardiff City)
Combined broadcast revenue up by 48%
Commercial revenue rose by £135m to £884m
Matchday revenues increased by 5% to £616m
Net debt was down by 6% to £2.4bn
Club wage bills increased by 7%
19 of the 20 clubs made an operating profit
14 of the 20 made a pre-tax profit
The first season since 2004/05 in which no new stadiums opened
Man City led capital spending – £94m on the Etihad and its football academy
Total owner investment at both Chelsea and Man City topped £1bn at each since their respective takeovers
line
‘Alarming financial results’
Outside the Premier League, in England’s second tier Championship the combined revenue increased by £54m, or 12%, to a record £491m.
However, these clubs continued to pay more in wages (£518m) than they earned in revenue.
The wages-revenue ratio in the second tier was 105% in 2013-14, compared with 106% in 2012-13. This resulted in operating losses of £222m and a combined pre-tax loss of £247m.
Adam Bull, senior consultant in the Sports Business Group at Deloitte, said: “Championship clubs continue to deliver some alarming financial results.
Nottingham Forest v Ipswich Town
Overall, Championship clubs pay more in wages than they earn in revenue
“Whilst the desire of individual clubs to reach the promised land of the Premier League is understandable, and heightened given the value of the new broadcast deals.
“The Football League is right to try and ensure this is not at the expense of the long-term sustainability of any club.”
In Scotland, in its first season as the Scottish Premiership, Deloitte said Scotland’s top tier of football suffered an £11m (8%) fall in total revenues, largely attributable to Celtic’s £11m drop in total revenue due to relatively poorer performances in cup competitions.
Celtic alone accounted for over half of both the total revenue and total wage costs of Scottish Premiership clubs’ in 2013-14. They generated £64m in revenue in 2013-14, compared with less than £6m on average for the other 11 clubs.
Deloitte said looking ahead there was a positive sign for Scottish football, with Ladbrokes signing up as title sponsor of the four Scottish professional football divisions for two seasons from 2015-16, following two seasons without one.
Juventus example
Looking more broadly at the “Big Five” European leagues – across England, Germany, Italy, France and Spain combined revenues grew 15% to €11.3bn.
That helped drive the overall size of the European football market to more than €20bn.
In Spain’s La Liga clubs collectively grew revenue by 3%. However, all this growth was driven by the two Madrid clubs, Real and Atletico – who contested the 2014 Champions League final. The other 18 clubs in the division saw aggregate revenues fall.
Real Madrid v Atletico Madrid
The small revenue growth in Spain was generated by the two Madrid clubs
In Italy, there was only a marginal 1% increase in total revenue for clubs in the top league. Deloitte said that Juventus again demonstrated the commercial benefit – which other Serie A clubs could copy – of investing in, and improving, match-day facilities.
Germany’s Bundesliga saw its revenues rise by 13%, consolidating second place in the big five leagues, driven by a new set of domestic broadcast rights.
Total Ligue 1 revenues in France grew by 15%, led by a €75m revenue growth at Paris Saint Germain.
Siience of the Damned
The directoral silence from Ibrox is taking on comic proportions – especially since we know wee Stevie still has a generator running to update the website with the lawyers’ advice and the new strip – hot pink – nice.
FFS even Jack Warner has been on telly discussing his plans.
Has anyone checked the Blue Room for “goodbye cruel world” notes?
Just a wee thought on the latest statement from Ibrox:
http://www.rangers.co.uk/news/headlines/item/9421-directors-voting-advice-for-gm
They tackle Resolution 1. They also hint that they won’t be revealing any confidential information about the deal with SD. They reiterate their nonsensical/unnecessary Resolution 2.
But what about their other resolution; the one where they were going to make it impossible for any RIFC shareholder to hold an interest in another club by making such dual-holdings non-voting? Basically making Ashley impotent in all things ‘Rangers’! (Except, of course, in his current ability to close them down)
Is that resolution still on the table, or have they been told to return their toys to the pram by the same people who ‘cautioned’ them over the confidentiality aspects?
Allyjambo says:
Member: (984 comments)
June 4, 2015 at 11:42 am
Is that resolution still on the table, or have they been told to return their toys to the pram by the same people who ‘cautioned’ them over the confidentiality aspects?
==============================================================
Wasn’t it a bit meaningless anyway – asking the board to consider having a meeting to discuss starting talks about possible negotiations to acheive something that would get them roasted by Ashley’s lawyers?
jimlarkin says:
Member: (306 comments)
June 4, 2015 at 10:53 am
==========================
Thanks Jim,
Increasingly good news for the Big Five leagues in Europe, particularly the English Premiership. Bad news for the rest, including the English Championship, where clubs are following the David Murray model of growing debt to achieve success – entry to the EPL in their case. No insolvencies there in the year past but that will surely change.
The Deloitte Annual Review of Football Finance – Highlights report can be found at: http://www2.deloitte.com/content/dam/Deloitte/uk/Documents/sports-business-group/deloitte-uk-arff-2015-highlights.pdf
mcfc says:
Member: (1334 comments)
June 4, 2015 at 11:49 am
Allyjambo says:
Member: (984 comments)
June 4, 2015 at 11:42 am
Is that resolution still on the table, or have they been told to return their toys to the pram by the same people who ‘cautioned’ them over the confidentiality aspects?
==============================================================
Wasn’t it a bit meaningless anyway – asking the board to consider having a meeting to discuss starting talks about possible negotiations to acheive something that would get them roasted by Ashley’s lawyers?
_______________________________________
I’m sure you are correct, but that doesn’t explain why they haven’t mentioned it in their statement. They have hinted at dropping their intention to release details of the SD contract, so why not explain why they have dropped what was, I’m sure, a third (second by the board) resolution? If I am correct, that it was a resolution, surely they have to say why it has been dropped, depriving the shareholders a vote on the matter. Even if it wasn’t necessary, surely it’s underhand not to give shareholders some sort of explanation, or at least to say, ‘on advice, we’ve decided not to proceed with the proposal’. It’s almost as if they want their spurious proposal to be forgotten…
I think there’s an awful lot that has been said in the last 3 months that the board (King) would like forgotten! King, himself, seems a master of the forgotten word 😉
We all know very well that once one has eliminated all other factors, the one which remains must be the truth.
So look, I’ve eliminated all other factors, and have deduced why Dave and Paul are so elusive of late. Here’s what happened. Paul and Dave could not believe their luck when they beat QoS over two legs, so they had a bit too much from the Blue Room hospitality facilities that night – and Paul said “and if we beat Hibs the same way, I’ll dye my quiff green and white stripes” and not wanting to be out done Dave says “well if we beat Hibs I’ll have ‘glib’ and ‘shameless’ tattooed on my forehead – but only henna like – cos the real thing hurts like buggery”. So there you are, both being fine honourable gentlemen – even when intoxicated with unexpected success and the water of life – they kept their promises – and THAT is why they are laying low for a while. Bleedin obvious when you think about it.
Current main headline of the Independent online site
“Live: British Government says England will host the 2022 World Cup if Fifa asks it to ”
One of the main subtexts to the London media pursuing this story so strongly, I would suggest.
sannoffymesssoitizz says
June 4. 2015 at 3.47 a.m
” Welcome back…..I’m looking forward avidly to reading your letter.”
__________
Thank you ,sanoffymesssoitizz.
Here is the text of the email ( in proper letter-format, and with name and address) I sent to Jamie Hepburn, to his Ministerial email address, an hour or two after your post.
“Dear Minister,
Sepp Blatter and FIFA
You are quoted in yesterday’s “The Scotsman” newspaper as having said: ‘ As President, Sepp Blatter is responsible for what happens at FIFA. I welcome his resignation, and hope that it signals a fresh start for FIFA, and that a change of leadership will help FIFA to begin to recover its reputation and regain our confidence in the way the global game is run…’
With the utmost respect, may I,without sounding too parochial, or wishing to minimise the significance of the allegations against FIFA governance of world football, suggest to you that a bit of ministerial concern for the causes of the great lack of trust in the integrity of the governance of Scottish Football over the last few years would be somewhat more appreciated by the hundreds of thousands of Scottish Football supporters-the very life blood of the professional game- and would add some force to your observations.
You will, of course, be aware of the huge damage done by the disgraceful and secretive agreement, the so-called “5-Way Agreement” cobbled up by representatives of the boards of the SFA, the boards of the then SPL and SFL, the Administrators of Rangers FC (in liquidation by that time), and the new club formed by Mr Charles Green which has rejoiced in the names variously of Sevco 5088, Sevco Scotland, Rangers FC 2012, The Rangers FC, and Rangers International FC.
Under this absurd agreement, two separate clubs were regarded as sharing the same being and identity. But only up to a point!
Sevco 5088 (or was it Sevco Scotland? There seems to be some legal question as to which!) was granted membership of the SFA and of the SFL and, in almost every football/sporting respect, is held to be entitled to the honours and sporting entitlements of the liquidated RFC, and to be liable for debts owed to the Football community of clubs.
But not at all liable for the social taxes and other commercial debts of the liquidated club!
Now, that absurdity requires investigation and explanation.
The fact that there was a very close connection between at least one figure who had held previous responsibility at the now liquidated club and subsequently held a position of authority at the SFA- a connection
close enough to involve the individual being a personal loan recipient of
the liquidated club- suggested to a number of people that a degree of
transparency in the decision-making processes of the SFA was somewhat
lacking.
Not that anyone suggests that there was any more ‘wrong-doing’ on the
part of anyone in the SFA, any more than you have suggested there might
have been on Mr Blatter’s part.
But, Mr Blatter’s very clear statement that he has done no wrong has done
little to discourage you from making the observations you made.
You have no Ministerial brief in the councils of World Football: you do
have such a brief at least to some extent in Scottish Sport.
The protestations from anyone in the SFA that their hands are clean
should, therefore, in the cause of consistency, likewise be set aside,
and some little part of your energies be expended on establishing
precisely why the SFA permits a newish club to get away with what is, in
any ordinary understanding of language, a misrepresentation of the true
sporting record.
Because, for as long as people harbour, with some apparent justification
on the evidence, dark suspicions that the Football Authorities were ‘at
it’ at the expense of any notion of Sporting Integrity, and that Scottish
Ministers turn a blind eye to the parochial, local sporting situation in
favour of grandstanding and pontificating on ‘global football
governance’, faith in Scottish football governance and any hope of
restoration of its reputation will remain virtually non-existent.
Yours sincerely,
(my real name etc)”
John Clark hear hear!
wottpi says:
Member: (630 comments)
June 4, 2015 at 10:05 am
I for one don’t think they have the quantum required to meets King’s Moonbeams dreams, so fans are in for a shock when investment levels are on the more reasonable side.
——————————————————————————-
The 3 Bears certainly were willing to provide an unsecured loan before King took the reins, but since King started pulling the financial strings they want security. King may be asset rich but I suspect he is cash poor and cannot get his money out of wherever he has it hidden for fear of the RSA tax man finding out.
Ashley has hold of the securities which the 3 Bears want before they will provide a loan and maybe now that they have seen King’s pipedreams they are backing off.
Worryingly the start of the new season is not far away and there is still so much to be achieved at Ibrox without the funding in place to do so.
Flywheel
John Clark says:
Member: (879 comments)
June 4, 2015 at 12:57 pm
======================================
A good piece John, and I hope Jamie Hepburn provides an full and informative response. I fear though that this politician, like most, will be as familiar with terminological inexactitudes as Micromega’s largest shareholder.
Shyster Flywheel Shyster says:
June 4, 2015 at 1:34 pm
Regardless of the security issue the fact remains they have coughed up around £500k a head and possibly a wee bit more to keep the lights on. Not an inconsiderable amount but it is really just scratching at the surface and like King’s lack of action hardly looks like someone taking the club by the scruff of the neck.
I can’t see them getting involved for much more than an additional couple of million each. They know that without austerity they will be getting asked to cough up another similar sum in a years time, maybe even sooner.
I am just taking a pop at this but I get the feeling they do not really have the stomach or cash for the long term drip feed that is required if the aim is Minty Moonbeams. They know such way is madness and a quick way to empty the bank account.
The only words from Park has been very much along the lines of ‘slow and steady wins the race’
Anyone considering “investment” at Ibrox should first read this to understand the fringes of their customer base who could so easily become upset with investors – not so much a rant as a self diagnosis.
http://www.followfollow.com/news/tmnw/the_dignity_of_silence_863282/index.shtml
Sportsound raised an interesting question last night. How much money does Dave King really have ? Can he afford to put in the money he has been talking about ?
That’s always a difficult question to answer, as most people don’t provide public information on their assets and expenditures. However in King’s case it is possible to at least take an educated guess at his net worth, thanks to the information disclosed in both the SARS case against him for Tax evasion , and the fraud and racketeering trial conducted against him by the National Prosecuting Authority (NPA) .
Lets start at the first point made by Graham Spiers , that SARS at one point were looking for £300 million from King. That begs the question of how much money did King make if the South African state felt entitled to £300 Million. King’s jump in wealth, like most wealthy individuals , came when he sold a business. Regardless of what you read in the Sunday Times Rich List , liquidity and paper wealth are 2 very different things. It is only of few short years ago that the Sunday Times was telling us David Murray was worth £750 million thanks to his ownership of MIH , that the Miller family in Edinburgh was worth even more thanks to Miller Homes and John Kennedy was worth £350 Million thanks to owning Kenmore.
Well MIH and Kenmore went into liquidation and no payment was made to shareholders for the equity and Miller’s were rescued by the Bank and an American Private Equity business with the shareholders receiving virtually nothing for their Equity. The combined wealth of those individuals , due to ownership of their companies was estimated by the Sunday Times at just under £2 Billion. The reality when the dust cleared was that none of them got anything . There are similar stories in Ireland of paper €Billionaires who lost everything when the crisis hit, and all because they hadn’t sold their business’ when valuations were high and there was a market with potential buyers with funds .
Back though to King. He avoided the fate of those mentioned above . He owned a business listed on the Johannesburg Stock Exchange (JSE) called Specialised Outsourcing ( SOL) . King made Rand1.2BN in profit when he sold his shares in the now defunct SOL .The share tanked when his sale became public knowledge, causing other investors huge losses. This led to accusations that he defrauded investors and lied to the JSE. This lead to a fraud and racketeering case being raised against him by the NPA . The NPA commented at the time ” ‘The prosecution is the culmination of a series of complaints received from institutional investors, which includes the South African Reserve bank, Old Mutual, Sanlam, Southern Life and Coronation,’ said a spokesperson.
‘The main thrust of the allegations is based on the alleged deliberate manipulation of financial statements, financial reports and the recorded earnings of SOL with a view to enhancing the growth profile and share price of the company.
‘These alleged misrepresentations caused the publication of reports which allegedly falsely portrayed the growth potential of investments.”
The trial collapsed when only 5 of 71 specialist witnesses for the prosecution appeared at the trial.
1.2 Billion Rand at todays value is £63 Million pounds. The value at the time of the transaction was roughly £94 Million. It is worth noting that it was shortly after the sale of Specialised Outsourcing that King invested £20 Million into Murray Sports . There is no evidence that King had significant wealth prior to SOL. He appeared to be well off , but nothing more than that .
What is unclear is whether King was able to convert currency to Sterling at that point, although it does seem that he was able to hold the sale proceeds in an Offshore Trust , out of the immediate clutches of SARS. So after all of that background it appears to be the case is that King made £94 million of which he pretty quickly spent £20 Million in Murray Sports. None of that has been returned to him in my view despite an Urban Myth that he got most of it back.
He then did what lots of newly rich individuals do. He bought a lot of toys. Vineyards , Private Jets , Artwork and Cars. This has relevance , as these were later sold to pay part of his Tax settlement. The amount that SARS were seeking was R2.7Bn . This is what was reported at that time.
“Last year ( 2012) , SARS won a court order allowing it to sell Mr King’s assets to pay his tax bill of R2.7bn, including penalties of 200% and interest.
“SARS had to take into consideration the recoverability of outstanding taxes from assets in South Africa and overseas that are currently available and measure that against the settlement offer of R706.7m,” said SARS spokesman Adrian Lackay.”
R2.7Bn has a Sterling value of £142 Million , not the £300 Million that Graham Spiers mentioned. The key though is the 200% penalties and 13 years compound interest . An initial bill for £37 Million x 200% penalties x 5% interested compounded over 13 years gets pretty much close to the claimed amount of £142 Million. It is not uncommon at all for a Tax demand on Capital profits to exceed the full amount earned when heavy penalties and compound interest is applied. So the short answer to Graham Spiers question is that the tax demanded was much less than the amount he was suggesting and that this tax demand was considerably greater than Kings net worth.
Which takes us to what can he afford. King would quite rightly answer that anyone attempting to answer that question is speculating. However here we go.
Start with £94 million and take away £20 Million invested in Murray Sports. That leaves £74 million . Now to that you would have to deduct the cost of all the boys toys King bought for himself and his living expenses . You would also have to deduct the cash element of the SARS settlement . He presumably has made a return on his capital since 2000 , although you would have to mitigate the effect of the 2007-2011 financial crisis.
Starting with £74 million it is possible to estimate the amount spent on Toys (assets) thanks to the information provided by SARS regarding his settlement
” As his outstanding debt of about R306m will be paid from cash held by an offshore trust, the family will keep the mansion in Sandhurst, estimated to be worth R85m, and holiday homes in Plettenberg Bay and Fancourt, the luxury golf estate near George.
SARS has already received about R400m through the sale of other King assets, including Quoin Rock wine farm near Stellenbosch for R85m and a Falcon jet for about R100m”
So R400M was raised by selling assets owned by King. These assets by and large are the type which will not have increased in value since purchase. They appear mostly to be depreciating assets. Therefore it is entirely possible King paid as much as R600M for these assets at the time of purchase. Without knowing which currency was used to acquire the assets it is difficult to exactly ascertain the £value . However using the exchange rate prevailing in 2000 and making the unlikely assumption that the assets did not depreciate , then R400M would equate to £31Million . This would reduce the previous figure of £74 Million down to £42 Million.
We also know , as shown above that King owned 3 family properties. Further we know from a submission to the court ( below) that he had monthly expenditures of R2.2M ( £115,000) . Annualised that is £1.38 Million.
“In 2011, he asked a court in Guernsey, where his assets were frozen in line with a request from SARS, for a monthly stipend of R2.2m, including R1m for legal expenses in South Africa, R800,000 for debts on his homes in Sandhurst, Plett and Fancourt, R200,000 for expenses on these homes, R23000 for gardeners and R40,000 for horticultural services. ”
A low risk preservation of capital investment strategy could well return 6% per annum over this period. Therefore an income of £2.5 million against expenditure of £1.4 Million . Which would enable him to have a small annual surplus for loans to or investment in his favourite football club. Things changed materially when he also had to provide a cash payment to SARS as well as the proceeds of the asset sales.
As was shown above this amounted to R306M ( £16 M) . Therefore it appears that taking this from the previous £42M estimate , would reduce the cash held to £26 Million. All of this is subjective, and all of it is King’s and SARS business, although those who see King as a saviour should have an interest in what he can really contribute. Speculative as it is it however does at least offer an explanation as to why King appears to be significantly talking down his potential investment. He has an interest in MicroMega Holdings also listed on the JSE, however like the Murray’s and others on the Sunday Times Rich List , until cash is received for equity , it is nothing more that bits of paper held in a Lawyers Office .
Derek Llambias statement of “Where is your money and your Nomad , Mr King ? ” is perfectly understandable given the estimates above. £26 Million is a very large sum , and will have wealth off the radar connotations for the average fan. However even a sum of twice as much wouldn’t be enough for most rationale individuals , with 3 homes multiple golf memberships and a family , to consider throwing away £20 Million on a football club
So do they all have such expensive tastes in gardeners? 😈
Excellent analysis as always Barca. I genuinely think that’s king’s dilemma just now – well one of them anyway. How do you make maybe £10m tops look like its enough when there is already dibs on £9.8m, plenty aspirational moonbeams floating around, the less than glamorous Championship canvas on which to work (no offence fellow diddies) and the abject risk that an offer to match £:£ will be met with an investor response of precisely zero. And, of course, that is discounting the frankly absurd hitherto unthought of possibility that the [..] maybe thought about sticking his investment in, on a short piece of elastic.
John Clark
welcome home excellent letter. We all must go to Australia for break.
Barcabhoy,
What can I say, only that we would be paying Barristers a fortune for your contributions particularly your latest missive.
mcfc says:
Member: (1336 comments)
June 4, 2015 at 1:56 pm
Imagine putting £millions into RIFC/TRFC and it’s still not enough to just sit on the board to protect your investment while trying to plot a course ‘back…’; there’s battles to be fought, too! And everyone is your enemy, even your friends are your enemy…and if you don’t do things to their satisfaction, the club’s supporters are your enemy!
Just as a complete aside and possibly bigging up our own part here, there was a suggestion that King could channel his offshore millions through the 3B’s to keep it at arms length and thus away from SARS. Correct, he potentially could. But then that would, of course, be laundering on the part of the investor. And in this country I believe the emphasis is on the alleged launderer to prove he isn’t, not the other way around. Particularly when the investment is guaranteed to be forensically investigated by all with an interest (so not the MSM then).
Just saying!
Barcabhoy says:
June 4, 2015 at 2:09 pm
Outstanding stuff. Thorough research of publically available information with educated speculation on top.
You’ll never get that job with the Daily Record carrying on like this 😉
Barca – excellent post – so with the most positive slant on all your caveats, the 20, 30, 50 million King has talked about was never likely to be his own money. No surprise you say – but let’s assume he’s not a total delusionist – that leaves the option that he genuinely thought he could raise that much OMP subject to winning the EGM and passing as F&P. Has he been let down by RRM who promised and have now got cold feet for whatever reason, or has he been misled by RRM who humoured him without ever thinking he’d get this far? Or maybe it’s just taking a bit longer to fill a few gaps than he thought after some let downs. If it is the latter, he really ought to be updating the fans because they are starting to get realistic – and if that leads to numeracy then he’s finished.
Barcabhoy says:
Member: (172 comments)
June 4, 2015 at 2:09 pm
Excellent analysis by Barca on King’s finances and we already know that Ashley is a genuine billionaire, therefore it appears that in a “put your wallet on the table & see who’s bigger” competition, Ashley would win that particular fight.
Makes the current approach of the Ibrox board rather strange, when really they should be cuddling up to him, blowing in his ear & saying “so Mike, about that 2nd tranche of 5m”???
Barca,
What a grand piece of workmanship, terrific effort. As you rightly point out, there is a fair amount of speculation and there will be unknown unknowns in your calculations, but so far, no one else appears to have taken the, not inconsiderable, time to put anything similar together. Even doubling your final figure doesn’t give King the fabulous riches that the SMSM love to bestow on him. He no doubt has much money salted away in various tax havens around the globe, but much has been discussed of the difficulties he must have in moving his filthy lucre, and no doubt much of the wealth you calculate makes up what he has hidden in these crook havens.
Clearly his main business skill has been to present himself as something better than the truth, and no doubt this includes appearing richer than he actually is, and accepting the claims of others of his even more fabulous wealth without correction…unless he has to fill in a tax return.
A certain Mr Craig Whyte, living in our very midst, was able, for quite some time, to give the impression of fabulous wealth. It was only when subjected to the microscope of failure at Ibrox that his true ‘wealth’, became clear to all those who had hung their futures onto his every word!
Living in SA, Dave King will have found it easier to give the impression, here, of greater wealth than the actuality. Is the façade crumbling a la Whyte now he is under the same microscope?
I wouldn’t be at all surprised if King exits stage left, quite soon, before his limitations are exposed, not only to the bears, but also to those people in a land far away that he would like to continue fleecing.
Great work Barca.
However I’m wondering if Mr King’s reluctance to “pony up” might be related to the ongoing SARS investigation into Ivan Pillay, their disgraced former deputy commissioner. He is accused of running a secret covert unit within SARS which, amongst many dubious activities, secured settlements that were frequently in favour of the tax payer.
To quote from the South African Sunday Times :
“Prominent people let off the hook for a fraction of their tax bills include billionaire businessmen Dave King and Christo Wiese (above) and Economic Freedom Fighters leader Julius Malema.
Wiese, who allegedly owed SARS R2-billion, settled for an undisclosed sum. King owed SARS R2.7-billion and settled for R700-million, and Malema settled his R16-million bill for an undisclosed amount.”
bfbpuzzled says:
Member: (169 comments)
June 4, 2015 at 1:06 pm
John Clark hear hear!
=========================
What – are we not allowed to clap in SFM either ?! :weeclappyhandicon:
Good letter John, as always.
And as regards the ‘potential’ reselection of future World Cups, then IMO the USA should be rewarded for taking action – when the European FA’s kept their heads down !
Even if the USA motivation was political and/or trying to secure another WC hosting – they deserve recognition for finally calling out Blatter and his cronies.
[And how much ‘dodgy’ money flowed through London financial institutions I wonder ?]
With the ’98 allegations against the France FA, mibbees most of the Euro countries have been compromised for so long that they just had to persevere with Blatter ?
And after last year’s hugely successful WC here wrt viewing figures, it would be an incredible boost for the game in the USA and for the MLS…but I may be biased of course. 😉
IMO, the only people who have a pretty good idea about King’s net wealth, is Dave King – and Mike Ashley, [or one of his minions.]
But Barca’s analysis, IMO, is a useful reference point for estimating King’s wealth – and reflects King’s ability – or inability – to reallocate liquid assets to RIFC/TRFC.
If King has actually paid his SARS GBP 41M fines/settlement in full, [can anyone confirm ?], then presumably he will now be significantly illiquid…and even less enthusiastic about flinging any remaining ‘loose’ cash at a basket case of a loss-making football club.
Maybe he has rich friends in SA he can hoodwink ? 🙄
The inexorable march of compound interest and time gets them all in the end. Barca good stuff and I think generous to mr King. There are some individuals who live on a tenuous edge of the financial equivalent of a highland ridge and are unable to seek safer ground Robert Maxwell Would be an example of that. A suset of these not only do that but do it very publicly. Hubris seems to have got the better of prudence in Mr King’s case. Countries’ economies do not follow the same rules as private individuals’s.. Some individuals seem to forget that and try to run their businesses like national economies that is the road to ruin.
As others have written, excellent piece Barca!
Just to add, DCK has (I believe) placed his money into multi-member Family Trusts for tax planning reasons. Whether he solely can direct the disbursements from these Trusts is perhaps also an issue?
==============================================
John Clark: you can buy Fat Yak from The Fine Wine Company at 119 Portobello High St. for £2.70 a bottle. Drink responsibly!
StevieBC says:
Member: (701 comments)
June 4, 2015 at 3:42 pm
==============
And others that have mentioned Platini and WC98.
As I understand it all the allegations of wrongdoing in the bidding process for that World Cup do not implicate the winning bid but a losing one http://www.moroccoworldnews.com/2015/05/159558/u-s-judge-claims-that-morocco-bribed-fifa-to-host-1998-world-cup/
Platini and the French FA are in the clear, for the moment anyway 😉
The MSM seem to be running out of squirrels – even they must be wondering what the hell is really going on behind the listed faceade – they could always ask I suppose – or regurgitate some opinions from here – http://www.newsnow.co.uk/h/Sport/Football/Scottish+Championship/Rangers
bfbpuzzled says:
Member: (170 comments)
June 4, 2015 at 4:07 pm
————————————————-
Ah, Robert Maxwell AKA “Cap’n Bob” , “The bouncing Czech” (copyright, Private Eye)
Ian Robert Maxwell.
“After Maxwell’s death, huge discrepancies in his companies’ finances were revealed, including his fraudulent misappropriation of the Mirror Group pension fund (£450,000,000).”
Maxwell was also the chairman of Oxford United Football Club.
See these football people , they’re bad uns, ah tell ye dinnae trust them.
Barca,
One of the most outstanding contributions that this blog has produced. A mixture of research and local knowledge with the right amount of humility. No grand claims. just educated extrapolation based on facts in the public domain, presented as just that.
I see that Blue Twitter has reacted badly to your assessment, although I did not detect any rhetoric or malice in the piece at all.
I suspect what you have done is provide some lazy journalists with serious information. Whether they choose to use it or not is neither here nor there (you can take a horse to water etc), but contributions of this quality make me doubly determined to get us to a wider audience.
I should also say that the order of wealth that King has (if Barca’s projections are even remotely correct) should provide an opportunity for sober thought for Rangers fans. I have no reason to doubt that King has the good of Rangers at heart, but given the fact that his wealth is (in football terms) quite clearly within range of the radar, he may have to make up the shortfall in charm.
Given that seriously high net-worth individuals have let five years go by without rushing to the their aid, the trick that has to be pulled off is to engage the fans to the tune of tens of millions of pounds.
Given further that I just don’t see how that will be possible, then we come back to the big task of managing expectations. In other words, “jam tomorrow” is what he needs to see to the bears. The trouble with that is that his promises up to now have not been delivered, and to sell the jam scenario, you need to be as good as your word – all the time.
Another thing that is worthy of further thought is this;
if the quantum of King’s investment is relatively low compared to expectations, would the three bears group be more suited (in terms of location and good standing) than Kingco? In fact these individuals, who have thus far eschewed the driver’s seat, have it appears to me at any rate far more standing than King & Co. My guess is that they will come to realise that sooner or later.
Just seen an Irish FA executive on the news saying that he accepted a ‘very good’ payment from FIFA to agree NOT to go to court over the Thierry Henri handball in the WC qualifier. A Wow moment! My wife said “It’s not often I see something on the news that makes your jaw drop”.
Not good for FIFA, obviously, but very poor from the IFA to grab the money, rather than fight for sporting integrity.
TheClumpany says:
Member: (46 comments)
June 3, 2015 at 1:49 pm
Good Afternoon!
As big fans of facts, and noted students of what has gone on in our game over the past few years, you may be amused/horrified to read the attached, which includes some absolutely cracking liquidation-denying rhetoric.
http://whatculture.com/sport/20-reasons-why-celtic-fans-are-jealous-of-rangers.php
As you may have feared, I have jotted down some thoughts about it. Written from a Celtic perspective, but with some wider observations about the implosion and *cough* continuation of Rangers.
https://theclumpany.wordpress.com/2015/06/03/click-baiting/
Enjoy the rest of the day!
==========================================================
A statement from Celtic Park.
http://www.celticfc.net/news/8404
“We’ve missed them…Now we want them back”
The Cat NR1 says:
Member: (415 comments)
June 4, 2015 at 7:18 pm
You naughty boy, or is it cat? Making me think Celtic had issued a statement written for them by level 5 😉
It did make me wonder, though, if the article title was more than a litte tongue in cheek (the official version of ‘a p*ss take’) to draw supporters to an otherwise standard PR piece for ST sales (not suggesting there’s anything wrong in that).
nawlite says:
Member: (145 comments)
June 4, 2015 at 7:17 pm
Just seen an Irish FA executive on the news saying that he accepted a ‘very good’ payment from FIFA to agree NOT to go to court over the Thierry Henri handball in the WC qualifier. A Wow moment! My wife said “It’s not often I see something on the news that makes your jaw drop”.
Not good for FIFA, obviously, but very poor from the IFA to grab the money, rather than fight for sporting integrity.
============================================
http://www.rte.ie/sport/soccer/2015/0604/705872-delaney-confirm-fifa-payment-to-fai/
The FIFA statement said: “While the Referee’s decision is final, and the Football Association of Ireland (FAI) ultimately accepted it as such, in January 2010 FIFA entered into an agreement with FAI in order to put an end to any claims against FIFA.
“FIFA granted FAI a loan of $5 million for the construction of a stadium in Ireland. At the same time, UEFA also granted the FAI funds for the same stadium.
“The terms agreed between FIFA and the FAI were that the loan would be reimbursed if Ireland qualified for the 2014 FIFA World Cup. Ireland did not so qualify. Because of this, and in view of the FAI’s financial situation, FIFA decided to write off the loan as per 31 December 2014.”
==
M. Platini needs to make a “clarifying” statement re Uefa’s involvement ASAP.
easyJambo, June 3, 2015 at 10:18 pm…
analyses Micromega accounts.
Thanks for that, and sorry for the delay. Dunno if any the wiser, but we battle on. It’s a sair fecht.
Allyjambo says:
Member: (988 comments)
June 4, 2015 at 7:27 pm
The Cat NR1 says:
Member: (415 comments)
June 4, 2015 at 7:18 pm
You naughty boy, or is it cat? Making me think Celtic had issued a statement written for them by level 5 ?
It did make me wonder, though, if the article title was more than a litte tongue in cheek (the official version of ‘a p*ss take’) to draw supporters to an otherwise standard PR piece for ST sales (not suggesting there’s anything wrong in that).
=================================
Plain old “Cat” will do AJ. I added the “The” when I bought the history of a previous Cat, but have conveniently dropped it now and I’m pretending that the nine lives of the previous incarnation didn’t really run out. :irony:
Giovanni says:
Member: (23 comments)
June 4, 2015 at 3:38 pm
However I’m wondering if Mr King’s reluctance to “pony up” might be related to the ongoing SARS investigation into Ivan Pillay
=================================
Pity we couldn’t have done more about David Hartnett over here. Just one small token of the corruption in our own society.
I claim the prize for most original squirrel spotted scurrying from Level 42.
“Rangers are interested in bringing former Scotland performance director Mark Wotte as part of a management restructuring at the club.
The 54-year old was previously linked with a similar move under the old regime back in November, and it is understood Dave King is also keen on the Dutchman. (The Sun)”
http://www.scotsman.com/sport/football/latest/rumour-mill-rangers-want-mark-wotte-juan-delgado-1-3792270
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Well, at least it’s an improvement on Klopp/McLeish/etc ‘interested’ in a move to Ibrox… 🙄
Now that the £5 ticket fiasco for the play-offs has passed.What do the SFA plan(I know SFA and plan in the one sentence,what am i on )
Anyway what do the SFA plan to do about next seasons play-off’s,will they now produce a rule that any clubs being part of said play-offs must set ticket prices per game as an average price ticket that was face value per game during the season.Or will the SFA wait to see if TRFC make the play-off’s and bow down to their £5 a ticket fiasco again.
Could someone ask SFA communications chief Darryl Broadfoot…
Returning to the Dave King conundrum: why did he ‘apparently’ buy shares in RIFC when he seems to now be reluctant to splash the cash as he had intimated earlier…
I was surprised King bought shares, thinking he would wait for the next Admin. and then make his move.
Why buy shares in a company with poor prospects, no bank credit, and lots of financial woes and uncertainty surrounding its existence ?
Unsurprisingly, I am not up to speed with SA Tax Law, but I presume that if King took a bath on his RIFC shares, he can offset his losses elsewhere in his investments portfolio – i.e. King could still decide to walk / run away and it won’t ‘cost him’ that much, if anything.
StevieBC, it was mooted on here before that he (and T3B) panicked when Sarver came in apparently about to buy (whether he was just an Ashley ploy to get them to do something, or not). Could it be that his intention was (and is) to wait for an insolvency event but he had to take charge, so as to not let Sarver take over which would in theory result in no event. Taking charge at least puts him in control of events (to an extent at least, Mike!). I don’t know if being in charge when the event happens suits him (either with regard to the fans ire, or even if he wins or loses from it), so could be talking rubbish.
Cluster One says:
Member: (173 comments)
June 4, 2015 at 8:46 pm
Now that the £5 ticket fiasco for the play-offs has passed.What do the SFA plan(I know SFA and plan in the one sentence,what am i on )
Anyway what do the SFA plan to do about next seasons play-off’s,will they now produce a rule that any clubs being part of said play-offs must set ticket prices per game as an average price ticket that was face value per game during the season.Or will the SFA wait to see if TRFC make the play-off’s and bow down to their £5 a ticket fiasco again.
Could someone ask SFA communications chief Darryl Broadfoot…
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I think you mean SPFL, but otherwise, can’t really fault your reasoning..
“Not good for FIFA, obviously, but very poor from the IFA to grab the money, rather than fight for sporting integrity.”
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Nawlite
For Christ’s sake please withdraw, recant, retract the above or you will have every farmer in Ireland down on all of us. IFA stands for Irish Farmer’s Association. Please.
Cluster One says:
Member: (173 comments)
June 4, 2015 at 8:46 pm
Now that the £5 ticket fiasco for the play-offs has passed.What do the SFA plan(I know SFA and plan in the one sentence,what am i on )
Anyway what do the SFA plan to do about next seasons play-off’s,will they now produce a rule that any clubs being part of said play-offs must set ticket prices per game as an average price ticket that was face value per game during the season.Or will the SFA wait to see if TRFC make the play-off’s and bow down to their £5 a ticket fiasco again.
Could someone ask SFA communications chief Darryl Broadfoot…
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The away ticket allocation is more of an issue than pricing, given the tit for tat restrictions applied in the Fir Park/Ibrox ties.
There were empty seats at both grounds that could and should have been filled by visiting supporters. The decision to restrict the away support and cut prices in the first leg backfired big time financially.
Perhaps there should be a set percentage/minimum number of seats?
Sportsound continuing with Ibrox Bingo tonight. Chick, Alex Rae & Kenny M. giving it ‘Manager McLeish’ (well, Rae would). Last night it was Richard Wilson who was on Ibrox PR duty, at taxpayers’ expense.
An underlying sense of alarm runs through both programmes regarding the the non-activity and no news from the club these pundits obviously support.
Nawlite
For Christ’s sake please withdraw, recant, retract the above or you will have every farmer in Ireland down on all of us. IFA stands for Irish Farmer’s Association. Please.
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The IFA is actually the Northern Ireland FA.
Matty Roth says:
Member: (167 comments)
June 4, 2015 at 9:34 pm
I think you mean SPFL, but otherwise, can’t really fault your reasoning..
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The Cat NR1 says:
Member: (417 comments)
June 4, 2015 at 9:51 pm
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Thanks for replies.