GREEN VISION FOR RANGERS – full steam ahead for the aye ready developers – by Ecojon

 

I thought I would have a close look at this media offering where Chico has been allowed free rein at making his AIM sales pitch with only a cursory nod to a contrary opinion.

 

However that isn’t what particularly interest me in the piece but more the way in which Chico slides over the AIM terrain – what a performer he is and must really be applauded for his sales skills. Definitely he could have sold snake-oil at the Glesca Barras nae problem and not being from these airts and pairts Chico might think that’s a dig at him.

 

I actually award him the highest accolade I can and anyone who has read my post on the original snake oil salesman of that Hallowed Emporium would recognise the honour I bestow.

 

However back to the CITY A.M. sales pitch which is important because I think it immediately identifies where £5 million of the flotation capital will be spent. There will also be money spent in pump-priming Ibrox regeneration but it is hard to be specific and really Ra Cooncil will be in the driving seat over permissions and, more importantly, land release as Chico wants ground as a quid pro quo for developing it.

 

He would of course make money from this Cooncil land so it will, no doubt, come under careful scrutiny as the public purse is involved.

 

I reckon that £10 million from the total share flotation is already earmarked so, to an outsider, things still look quite finely balanced before any money goes to buy players or to operating capital. Of course, if all else fails, then future ticket money can be sold in a Ticketus-style deal.

 

Lots of clubs do it although Craigie did go a tad too far. There is, of course, the possibility of a series of share floats and if that happens then I think the carrot could well be the sale and lease-back of Ibrox and possibly Murray Park although it might make financial sense to sell the latter and build a similar smaller facility at Ibrox.

 

Not sure how much capital will come from actual developers to revamp the Ibrox area and, to be fair – Chico has oodles of connections in that field – how much will come from Rangers.

 

Flotation costs won’t be cheap and could possibly run from £1 to £2 million with Green’s 10% commission on a successful £20 million flotation raising £2 million. And what about the original say £12 million capital – that’s another £1.2 million plus the £5 million I mentioned earlier. All that gives me my £10 million which I freely admit is guesswork with hopefully some foundation but like AIM investment it is up to you to draw your own conclusions.

——————————————————————————-

Chico states: “There is a wealth of talent there – we’ve got five guys aged 18 and under playing in the first team. Tell me a club that’s got six players under 20 that have played 100 league games each – that’s the opportunity now that exists for us. ”

 

Have you really got six U20s that have each played 100 league games?

 

Chico states: “Who thinks there’ll be a European Super League within 5-10 years? I do. I spoke to one of the commercial directors at Arsenal. [They] don’t want to play Southampton or Swansea”.

 

It’s the voices in the heid again and yet another unnamed football official telling him things. Everywhere he goes people seem to sidle up to him and whisper in his ear.

 

Chico states: ‘”And Football fans are not just the people who live in Hackney. Fans are in India, China and they want to see Man Utd play Barcelona, not every eight years but every season. If there’s two divisions of eighteen then how could Rangers not be in it? I’m convinced it will happen.”

 

So it looks as though we have gone from a Euro Super League to a Trans-world one. I hate to admit it but I think even Celtic would struggle to be one of the top 36 clubs in the world. You have often said Chico you’re thing is horse racing and you don’t know that much about football so I would stick to tipping horses rather than football shares 🙂

 

Chico state: “The minute they kicked us out of the SPL, you have your own image rights. In two weeks we’re going to broadcast our away match at Clyde direct onto the internet.”

 

Mmmmmm wonder how this Super League is going to fund itself if all the members negotiate individual media contracts – Should be fun 🙂

 

Chico states: “There were 26,000 shareholders in the old Rangers company that was listed on the Plus market. Those shareholders – through no fault of their own – lost their investment and should be given the right to apply for shares.”

 

I see he ignores the debenture holders who I think lost a lot more and many would also be shareholders. Some time ago I mentioned on here that it would be a nice gesture to allow fans who had lost money a discount on fresh share purchases but I see that greed has overcome moral responsibility.

 

Chico states: “If people saw the 2008 UEFA Cup final in Manchester, Rangers took 216,000 fans who didn’t have tickets. That illustrates how big this club is. That’s brand loyalty.”

 

It is indeed Chico and lest we forget: http://en.wikipedia.org/wiki/2008_UEFA_Cup_Final_riots

 

Chico stated: “[I told some investors two years ago], put £50m into Rangers and you’re guaranteed to play in Europe every year – and it’s the only league in Europe that has that guarantee.”

 

Tell us more Chico about your mystery investors that keep popping-up in relation to Rangers. And two years ago – I wonder why Glasgow Rangers popped-up on your radar at that time?

 

Chico stated: “We’ve got a great balance sheet, the envy of football – which football club today has got no debts, no borrowings and cash on the balance sheet? We’ve got cash today, we will raise cash in the IPO and before this fiscal year ends we’ll have cash for next year’s season tickets.”

 

Why don’t you publish this oft-quoted pristine or is it blank balance sheet. Green Brigade are always looking for clean sheets 🙂 And WTF is the Freudian slip about having the cash to buy next season’s tickets all about? Did you mean to say you’ll have the cash to pay Ticketus?

 

Chico stated: “Assuming the manager does his job and gets us promoted [we’ll sell more]. The price will be higher – let’s say we sell 40,000 season tickets next year at £500. I’ve got £20m. Tell me which high street shop can tell you with that predictability the levels of revenue”.

 

I will pass on whether Ally can achieve promotion or not – I will leave that for Bears to argue over. Increase in ST price will I’m sure be gladly paid by the faithful as it provides an even greater test of their loyalty. Perhaps your PR consultants should have schooled you a bit better though – very down-market to compare the mighty Rangers to a corner shop – the corner shop that may well have been trading successfully for a 100 years and paying all its bills and taxes, as well as serving its community faithfully, might get very upset, quite justifiably, at being mentioned in the same breath as Rangers 🙂

 

Chico stated: “Historically [the record of floated football clubs] is even more abject that what you’ve described, they’ve all been poor showings. But there are models – Arsenal is a classic”.

 

Indeed it is Chico but basically it’s shares are traded privately and are in the hands of a few rich individuals. So how is that a ‘classic’ when you don’t want any individual or group to own more than 10-15% of Rangers shareholding? There is also the sensitivity of Bears to the recent sale of their Arsenal shares and I stand full square with them on that particular move by your predecessor.

 

Chico stated: “I would be disappointed three years down the line if we’re not doing £30m and making £7m just from merchandising. Now, if we then say we’ve done the property deal and get £5-10m. If we’re back in the top league, in Europe, that’s £60m. Merchandising, better sponsorship and we’re turning over more than £100m.”

 

Certainly ambitious but as long as fully costed sounds really exciting for fans. Not sure about timing though as you are barred from Europe for 3 years and would need to get in the top league aka SPL and play there for a year and win it to get into Europe. I have often pondered on whether Scottish League reconstruction could remove or reduce our Euro opportunities but obviously you seem to have more of an inside track on that – any tips on horses btw as I’m a bit leary of your football ones 🙂

 

Chico stated: “The original 19 shareholders came in at 50p. We’ve just done some pre-IPO funding at a £1. I’d like to see the fans with 15 or 20 per cent of the club. And maybe 50 per cent held by institutional investors.”

 

Well, we still don’t know who the mystery shareholders are or how much capital was invested by them but I’ll make a guess a c £11 million and I don’t think there’s much if anything left and that’s why the current float is needed rather sharpish. Maybe that balance sheet is indeed clean with not a single figure on it.

 

Chico stated: “In Scotland you can’t get a drink unless you’re in a members club. We’ve got a club that costs you £700 a year for membership. I’ve got a stand behind the goal with nothing behind it – stick a bar in there, cost you £1m.”

 

I assume that Chico means at a football ground. So we are going to have another bar built. Find Chico if you think that’s not only a money-raising scheme but a good idea.

 

Chico stated: “Edmiston House, which I’ve agreed to buy off David Murray, we could put another members club there with a walkway down into the stadium. I need £1m to buy it, £2m to do it up but it’ll bring £2m pa in income”.

 

Just like you Chico I’m getting on a bit and the old memory is going but I thought it had been announced that you had already bought Edmiston House from whatever part of the Murray Empire it has been languishing in. So between this and the stand bar that’s £4 million from the flotation. OK you gotta invest to make money – no probs there.

 

Chico stated: “We’re saying to the council, let us regenerate this area, we’ll build a new railway station, but give us the land next to it and we’ll build a hotel. I believe we can get £5-10m a year in recurring revenues from the rents. What would even a new railway station cost – I don’t have a clue but let’s guess £1 million.”

 

I have left your comments about why previous area redevelopment plans have failed as it’s what you are going to do rather than just say, like previous owners, that is important.

 

Your promise to build a new railway station is impressive but what about the permanent way and running costs – I hope that you will be paying an annual percentage of those costs as it would be unfair to ask the taxpayer to sink any more cash into Ibrox – don’t you think?

 

Now a little of Ally as it would be unkind to leave him out.

 

Ally said: “I’m excited. I don’t believe for a minute we’re out of the woods but at least the light is at end of the tunnel. We’ve lost 28 players in six months. We’re not going to get back to where we were overnight.”

 

If I was you Ally, I too would be excited and more than a little apprehensive. However, play less golf and you might get out the woods and I really am fed-up hearing about the light at the end of the tunnel. In keeping with Chico’s current single track railway theme I would observe that the train can’t be moving because it seems the light never gets any bigger or brighter and the end of the tunnel isn’t getting any closer. I also notice that the SPL Station is non-stopping for the slomo Sevco Express.

 

Lost 28 players? Careless? Not if you knew the game plan which was they were going to be sold to raise mullah and anyway who needed them in SFL3? Might I whisper – possibly Rangers 🙂 You could also have replaced more of them but it seems Chico didn’t give you the necessary cash to do so.

 

Chico raves about the footballing wage bill being restricted to £6 million pa – if the 28 hadn’t walked away or hadn’t been sold what would the wage bill have been? Possibly £15 million pa?

 

Posted by Ecojon

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91 Comments

Filed under Charles Green, Guest Posts, Rangers

91 responses to “GREEN VISION FOR RANGERS – full steam ahead for the aye ready developers – by Ecojon

  1. Paul, Charles has already said that Murray bought Edmiston House for
    £1.6million (not even sure that’s true I’m suree it was £1) but agreed to flog it to him for £800,000. Where did the extra £200,000 suddenly come from?
    The youth set up is also interesting. (You may have noticed some posts on TSFM) The original set-up saw Rangers Youth Development (four un-named individuals put in half the money) owning the Youths and Rangers FC ‘buying them’ when they went into the first team. As Brian Stockbridge, Charles Green, Andrew Dickson and William Jardine are named directors of the (still) stand-alone Company, I wonder if the original arrangements are still in place.

    Great work, as always, Paul.

    • ecojon

      @ TallBoy Poppy

      There’s is definitely a lot more to the youth set-up than meets the eye.

      I noticed chico mention recently that Craig Mather is now director of Murray Park whatever that means. He and his business partner are supposed to have put either £1 million in each or one mill between them into Rangers – could never work it out.

      He is MD of Simply Sports Management and worth a look at the website:
      http://ssm.uk.com/management/#craig-mather

  2. mick

    great read ecojon really enjoyed the facts and figures its all snake oil and moonbeams just like murray and whyte ever fan site in scotland is calling him a lunitic if its such a great deal why was it sold for a pound twice its buy or die simple as if green said that they would be right down there to buy as its the law of the jungle why all the gloss and why has the LH report not out and no BDO today doing liquidation does green know something we dont and is trying to rush throw a share issue before the cats out the bag on the deal its all crooked to me as hes not transparent and is telling lie after lie
    hes gutted all the players walked a think that killed them ,millers blackhole could have been filled via sale of players now its sell the club in shares its a mess no matter what happens comedy gold if your a tim or spl club

  3. mick

    buy or die lol what a state d&ps have left them in lol

  4. ecojon

    Just noticed I missed the section on Rangers TV in my main piece so have included here.

    Chico obviously regards Rangers’ TV as a potential treasure trove of
    riches to help rebuild the finances of the club.

    But I must confess certain reservations with his statement: “What
    transformed soccer was Rupert Murdoch and Sky, but it’s changing.
    It’s all going to migrate to the web. YouView paid £738m just for a
    few Premiership games. The minute they kicked us out of the SPL,
    you have your own image rights. In two weeks we’re going to
    broadcast our away match at Clyde direct onto the internet.”

    Perhaps this dream is why chico is refusing to go back to the SPL if
    he believes an SFL-based Rangers TV is capable of taking on global
    media giants and presumably earning hundreds of millions annually
    competing at the coal face of leading-edge technology which is
    currently soaking-up vast sums of capital to win the race.

    But chico seems to be making some very basic mistakes in
    understanding what is happening – transmitting live events on the
    internet is something which has been commonplace for well over a
    decade and frankly is very old hat.

    It no longer actually matters whether a football game is viewed on
    a TV, an iPad or a mobile phone or even whether the web is involved or not.

    The viewer, who is after all the paying customer, wants to view
    their chosen game; on their chosen device; from wherever their
    current location happens to be.

    It doesn’t actually matter whether it all migrates to the web or not,
    and it all won’t anyway. At least not immediately as there are still
    quite serious technological issues in marrying TV and the internet
    still being worked through without even considering Broadband
    speed issues.

    But Content is King and thus ownership or licencing rights of that
    content is vital no matter whether it appears on TV or the internet
    and it is this factor, in the main, which determines whether the
    paying viewer can watch the match live or not which obviously
    attracts a premium payment.

    And the huge earth-shattering cataclysmic event which has just
    happened in football is that Sky has lost the plum first-pick

    coverage of Premiership matches for the first time since 1992. In
    case anyone is still thinking that Clyde and Rangers are in some
    way tied in to this £738 million three-year-deal – sorry to
    disappoint but they ain’t 🙂

    No it wasn’t RTV who displaced SKY in spite of what you might
    have thought from the quote – it was BT from season 2013-14
    onwards.

    And it wasn’t a ‘few games’ but actually 38 Premiership games a
    season, for three seasons, including almost half the games
    between top sides such as Manchester United and Chelsea.

    I can only guess why chico stated that a few games had cost £738
    million but as a businessman I thought he would have been more
    careful with figures especially involving one of his potential golden egg projects.

    I also think his memory has let him down again by possibly
    confusing BT’s BT Vision with the consortium based YouView.

    But to finish on the ‘Content is King’ theme I would image as the
    game is being televised from Clyde’s ground they should be in line
    for a very hefty payment up-front from Rangers. Better being paid
    this way than on the number of viewers as that can sometimes be
    problematic.

    I think a major stumbling block will come if Rangers TV want to
    blanket-televise live SFL matches, whether away from home or from
    Ibrox, and I smell a contract in the air with the SFL sniffing out a
    cut in proceedings.

    A new role for a beefed-up Rangers TV may also see a dusting off
    of the rule books to check what the SFA and SPL are prepared to
    allow or perhaps it is already set in stone and, if so, it would be
    nice to hear the details to dispel any confusion that might arise on
    the subject although I doubt if it will still the conspiracy wails although I wonder if they’ll boycott RTV like everything else 🙂

    TV and media transmission contracts in European Football, whether
    under the current set-up or the ‘saviour’ Euro Super League dreams,
    are highly likely to keep a very tight grip on individual clubs but it’s
    all grist to the mill and if it brings extra dosh into the Scottish
    Game then I’m all for it.

    • mick

      @ecojon its all cyber beams the net in scotland is full of matches live streaming the kids have 3 and 4 games at a time on the go from all round the world a watched the scotland match tonight streaming there was fans from all over the world hes gutted he got a bum deal from the sfl alba and sky deal hes looking at ways to get that money stopped so he can get it rather than share with the lower league clubs there is no way he will be allowed to do this sevco are starting to get worked up by green but they for get that they are div3 and not that good on the field ,Celtic show live games on line for outside uk consumers so not to interfere with the sky numbers and teresrial channels if its a game thats not listed for national tv then they can show it but if its on sky or bbc then its only viewers outside the uk that can see it via the net ,greens a lunitic thats the most frequently used word that appears next to his name online what a man

  5. carl31

    Sometimes light at the end of the tunnel is the headlight of a train coming the other way.

  6. Good post Ecojon. The word ‘brazen’ just keeps coming into my head. Wonder why?

    A couple of points:

    Don’t know if you get City AM in Glasgow, but it’s pretty much a free-sheet cheerleader for the City of London, so its main attraction to the Green pitch is just that: showing its gallus readership (red braces, remember?), constituting possibly the world’s biggest collection of chancers, the latest pitch. Any flotation, no matter how off the wall, is given the full treatment. After all, as is always pointed out, there’s money to be made for the City boys, even in a catastrophe.

    No doubt the dynamic duo wouldn’t have got such a free ride with the Evening Standard, which would have actually got to millions of moneyed readers in the south-east.

    Another point that seems to come through loud and clear is that Green obviously intends not to stop fleecing the faithful once he gets their share money – he’ll need them to be the main contributors to just about every revenue stream he envisages.
    So the £280 season ticket will give you first dibs on paying another £500 for a share, and then you’ll get preference for massive ST price hike to £500 next season (remember, this will be for Div2 – or at least ‘a’ Div2), and of course you’ll no doubt be offered at least two new strips per season to buy, then there’s probably a membership fee for the social club (or whatever it turns out to be), not to mention inflated prices for drinks (ask anyone attending any English Premiership ground, esp in London, how much a pint at the game costs), etc and so forth – you get the picture.

    So what he’s doing is getting the fans to buy into the idea that he and the MAIN investors can make more and more out of… the fans. Very little is going to added to the clubs coffers by anything other than poor Joe Sap the Bear, who will be continually fleeced and fleeced, paying for all the institutional investors’ and developers’ (mainly easy ) loans that will build all the tat for them to pay for. (Isn’t capitalism great when it works?)

    Yep, brazen.

  7. ecojon
    I quote:
    Flotation costs won’t be cheap and could possibly run from £1 to £2 million with Green’s 10% commission on a successful £20 million flotation raising £2 million. And what about the original say £12 million capital – that’s another £1.2 million plus the £5 million I mentioned earlier. All that gives me my £10 million which I freely admit is guesswork with hopefully some foundation but like AIM investment it is up to you to draw your own conclusions.
    I don’t understand this paragraph.
    20 m is totally inconceivable from the share issue. Which is in effect a donation, and will never happen.
    Are you suggesting that 12 m was invested into the company as cash? And which company? Is this capital available for draw down? If so, why have they no LOC or OD with a reputable bank? Or is this just share capital for book purposes?
    How much cash has the Reverend Green actually paid out so far? I think one of Paul’s articles went into some detail about this and concluded Not a lot.
    The only cash in I have seen so far is season tickets.
    There will be other cash receipts from merchandising, catering (although Mick may have something to add to this). Certainly the media business was a flop from the D&D figures.
    My point being, that without cash in the bank, your business will fail and fail quickly. I doubt that any creditors from Rangers will give Rainjurs credit 🙂 even for Mick’s pies!!
    Granted that you can sell tickets on advance. But would anyone take this up given TicketUs feck up? Don’t think so.
    So where is the cash coming from??
    Rainjurs is a cash business. They have circa 60% total costs to pay each month from their book costs by my reckoning (that is they exclude depreciation since they don’t have to pay this as cash).
    So just how are they surviving?
    They are an ex parrot. Surely. And they seem to have had no cost reduction whatsoever??
    On a cash basis, I cannot for the life of me see how this can work.

    • ecojon

      @ goneinthemorning

      I will try and make the first par clearer but the problem is any figures I use have to be taken from Green which makes them how shall we say ‘flexible’ as things keep changing.

      He has stated there are 22+ million shares already issued to the consortium. which I believe are in the name of @The Rangers Football Club Ltd’. I think, on a lot of previous statements, that a maximum amount of investment raised was approx £12 million but I doubt if much of it is left having been used to purchase the assets and cover running costs. The public share issue could produce an extra £20 million – probably won’t. But Green is publicly on record of saying he gets 10% of the flotation capital which at a maximum = £3.2 million. The articles points to a minimum capital spend of £5 million (club, bar, raiway station) plus costs of AIM Float say £1.5 million. So I arrive at £9.7 million whiching is 50% of the float and not really enough IMHO to buy one ONE Euro Super League player let alone pay running costs until the next ST sale.

      As to the original investment from the apparently 19 mystery investors we in reality know next to nothing about this – I think there was some investment which paid for the asset purchase but whether those investors received secured debentures on the property assets or an option to receive shares at flotation nobody except the inner circle knows. And no one knows what, if any, conditions are attached to the 22+ shares which have been issued to the investing consortium.

      Basically I agree with everything you say but we are hamstrung with lack of reliable info – I personally have no doubt that without the flotation that Rangers would sink beneath the waves clutching its lead green lifebelt early next year or possible even by Xmas,

  8. martin c

    I think this from “City a.m.” sums it up for me;

    “I’d like to get the cash in the bag. I’m 60 next year, I want to get this finished before I finish. The reality is, if Israel bombs Tehran this will not list – it’s nothing to do with whether it’s a good business, or whether Charles Green’s mad, just that someone took off in an aeroplane.

    • cam

      I’ll say one thing for Chico he has achieved more than any of the DLA claimants in here.Guy has earned a good few bob over the years and hasn’t to my knowledge been disciplined by his peers for 10 years.
      Answers on the back of a giro.

      • How many businesses he’s been involved in have gone to the wall? (Clue – more than one…)

      • Mick

        CAm am economical and self sufficient but when a see stupid ignorant foolish trolls like yourself mentioning benifits and dla and giros in law site your snide comments is sad and a dig a people less fortunate than your self it makes you look like a wanker people work hard then get benefits before they die not ever 1is a crook in a suit and. We all know that sevco are Scotland’s trialier trash scum that think the country’s there’s and the benefits as a said trailer scum leave oaps alOne dla and benifits are ok for people who need them cam is kind of slagging people on benifits sick or what 1day you will get them lol trailer trash scum sevconian you are

      • mick

        claimants cam sounds like he works at the social lol

      • Jono

        @cam, throw stones….. or critique,…… your choice

    • ecojon

      @ martin c

      I just couldn’t believe the Israel/Tehran crack – what planet is this guy on?

      I think we all know who took of on the rocket ship and now he’s anxiously fingering his AIM parachute and wondering whether he’ll make retiral in Provence.

      • martin c

        @ cam

        there is no shame in being reliant on DLA since the majority of the population who have disability have no flotation to bail them out?

        @ ecojohn

        I do wonder what is going through his mind?

  9. itsme

    “And WTF is the Freudian slip about having the cash to buy next season’s tickets all about? Did you mean to say you’ll have the cash to pay Ticketus?”

    Oh dear you better read your own post again.

    Where did he say “buy” next season’s tickets?

    Due to the lateness of this season’s season ticket money being received it means that Green will receive 2 sets of season ticket monies in one fiscal year, all that’ll do is flatter the first years accounts.

    • ecojon

      @ itsme

      I hear what you are saying and know that the company year end was recently changed from 31/05 to 30/06 which might increase the amount of ST money appearing in the accounts.

      But few fans buy their ST outright and usually pay by instal,ents and with the average ST price going up to £500 next year I think it even more likely that the instalment option will be favoured.

      And how many instalments will be paid by 30/06/2013? I would therefore think you are mistaken to state that two sets of ST money will be received in one fiscal year.

      All in all I will stick with my Freudian slip theory because, as I have remarked on many previous occasions, chico’s inability to control his mouth often provides glittering nuggets of information to those who actually listen to what is being said behind the mouth-music. Every time I hear another one of his rants I think back to WWII and am glad he wasn’t about then as one of the old BEWARE slogans flashes before my eyes: ‘LOOSE LIPS SINK SHIPS’.

  10. John Burns

    I find it almost impossible to have a view on anything that Green says – remember, £30 million in July, twenty plus investors from all over the “planet”, up to nine players from Newcastle Utd, Mike Ashley as a cash-investor and three billionaires coming on board.

    His Walter Mitty-like pronouncements are excruciatingly embarrassing, surely, surely, no sane Rangers brand supporter really believes a word of this ‘tosh’ – he is not even a “good liar”, because he forgets what he has said previously and just ‘ploughs on’

    And what of McCoist, forget the results and any discussion of his football acumen – he looks like a stupid wee boy, following Green around and hanging on his every word – but of course he (McCoist) would be virtually unemployable outside The Rangers and, he does need his salary due to his personal situation.

  11. The answer to the first post is the answer, no one knows anything they may think they do but in reality it is pure speculation good or bad.

    When the authorities cough then we will know.

  12. Thomas

    The Council do not give away land, they have to show Best Value. His plans are a non starter for regeneration,total nonesense!
    If I’d spouted that drivel as a development plan I’d be sacked.

    • ecojon

      @ Thomas

      I don’t actually know the area in any detail but I see from his grand plan that he wants to be given an old gas works to build a hotel on. One thing I do know is that old gas works are heavily polluted and carcinogens abound which makes for a horrendously expensive clean-up operation before any construction can be contemplated.

      I assume chico expects the taxpayer to pick-up the tab on this one and in the current climate I would think this might be doubtful.

      • Thomas

        ecojon,
        I know what he’s been looking at.GCC are currently remediating a site opp’ Celtic Park for a hotel at the moment, but they aint giving it away, theres a buyer trying to get out of the deal as they signed up to it before land values crashed. On the site getting signed off as ‘clean’ they have to ‘cough up the Dwain Eddies’
        Development ‘whataboutery’.

        • ecojon

          @ Thomas

          If you can’t make it big in Europe or get into the Premiership the only way to make a real killing is on developing land you already own and it’s always worth remembering the development culture at Sheffield United which pre-dates chico’s arrival there but which certainly he will be well aware of.

          • Thomas

            ecojon
            I agree, I’v been trying to find an angle to get in and do that for Celtic!
            Back to Chic, If he needs council land the Distric Valuer is duty bound to call it a site ransomn £ value 1/3 of completed value.Anyhoo, the land at the moment Id value at £50k an acre.Buttons!

  13. Fisiani

    Cut to the chase Green hopes that thousands of fans will shell out 20 million for assets that he bought for 5 million. The inital ivestors can walk away with 15 million. Great return for less than one year investment. Green has already admitted that he is only there to make money. The gullible will queue up to make Green a very rich pensioner. Shame that they won’t even have a Div 3 team to follow follow.

  14. Mícheál

    Finally got some time to follow the blog and comment again. Really liked this post and Andys as well, not to forget goneinthemornings comments.
    So I’d like to share my thoughts on this matter (warning in advance: parapraphs are not in chronological order and might not correlate^^)

    I agree with goneinthemorning (in a comment to Andys blog) that a variety of analysis have to be made before being able to indicate the costs for a project and the funding requirements. His revenue numbers look like they hit him out of the blue (no pun intended). His projects seem to have a very restricted revenue potential as they are intended to be “members only”.

    In general there is a lack of projects. (I am not speaking of a project in the scale of the 1 billion $ Real Madrid resorts) And that doesn’t go well with istitutional investors. Football clubs are very limited in their main business field and if they can’t provide projects in other areas the attraction to investors is not given.

    500 pounds for season tickets in Division 2 might also not be realistic by the way.

    Arsenal might not like to play Swansea or Southhampton (though I doubt it, as the domestic competition is the (how you call it?) bread-and-butter business (?) of football clubs and there exist beloved traditional rivalries) but they have a competition where they can play against the cream of European football. It’s called UEFA Champions League. (I know Rangers just know this competition by hearsay^^)

    Speaking of Arsenal: not quite the role model as they are listed on the PLUS market and traded very irregularly.

    The costs for the flotation would be inbetween 2 and 6 per cent of the achieved figure, depending on the size. But these are not the sole costs as the countinous listing on the AIM also produce costs for the company.
    A flotation is quite an expansive thing in general.

    Not to forget the possibility of the liquidators rendering the sale of the assets void and therefore leaving the new company without assets. A risk that will probably not be included in the prospectus as long as the old company hasn’t went into liquidation at that time. But as every investor is prone to check the background of the company it will keep off some. (also intersting for fans purchasing shares as they don’t buy the club but the company and if the club is going back to the old company they are left with shares in a company shell)

    Interesting is the quotation about the season tickets from next year. If these are part of an ABS deal again which means Rangers need the money from the tickets before the revenue is generated, so there is a need for liquid assets at the time of the ABS deal.

    Next to these issues there is a big problem. The ultimate goal of football companies is not the profit maximisation but the utility maximisation, which is achieved by athletic success (within the financial means of the company; most clubs forget about this and tend to overspend which is partly due to the phenomenon of the rat race) Therefore football companies lack a stategy in the medium and the long run. Also there are no dividends paid out. And the companies tend to underperform on the market. These are some main reasons why of the initially 22 listed football club plc of the PL, SPL and Championship in the 90s there are just 6 left and of these 6, only 1 Scottish.

    Why the flotation? To fund the 2-3 projects? To fund investments in the playing staff? probably not because of the transfer ban.

    To summarise it: I can’t see any reason for institutional investors to purchase shares of the now The Rangers FC ltd. I doubt there will be a lot of interest in it except from fans and I cant’ see why to foat the company now for the good of the club. If the club is not indebted now there is no reason. But I have to say that I have no insight of the financials of Rangers so this is just speculation.

    Does that mean the flotation will fail? Not necessarily. If enough fans invest and if this includes wealthy people it might work, probably not for the targeted 20 Millions.

    But we will have to wait for the prospectus and the actual result of the flotation.

    Nevertheless I have a question: Does anyone possess more detailed informations about the flotation of Celtic plc in 1994, especially the segmentation of investors?

    My 2 cents to this story. Have a nice weekend.

    • ecojon

      @ Mícheál

      Firstly I still have most of my Celtic share stuff on ‘paper’ buried somewhere in the loft – why don’t you email Celtic FC and ask them – they are usually quite helpful.

      The projects Green has mentioned only amount to £4 million (bar and club) and then there’s the railways station he says he will build or maybe re-open the old closed one. I have costed that off the top of my head at £1 million because one thing I do know is that doing anything o the railway costs an absolute fortune.

      But I noticed in another article this morning: ‘They are tapping into their large fan base by opening five new shops, including one at Glasgow Airport, one in London and another in Belfast’.

      And I ask myself in this age of online shopping whether this is a wise use of expensively garnered AIM capital and I also ponder as to how Mike Ashley of SportsDirect views his kit agreement with Rangers if they are hoping to ‘cream-off’ trade in good locations.

      I was surprised when you said there was still 6 listed UK clubs. I know about Arsenal and Celtic. Man Utd is listed overseas and not in the UK but who are the other three?

  15. jarvisarrow

    Interesting and informative, not only the article in question but also the posts and comments.

    It really beggars belief that no-one from the so called profession of journalism cant take what this shyster Green has said and take it apart statement by statement just like this. But then we have the journalistic heavyweights of Traynor, English, Spiers, Jackson & Keevins so it comes as no surprise

    I expect to hear about this being shamlessly stolen and put into print in a national newpaper sometime soon.

  16. mick

    @fisiani these new sevcoians should shout swallow swallow we will swollow on lol greens got them deluded its buy or die

  17. Andy

    I think there will be a section of Rangers fans that buy in, just off the back of what Green says, but how many that will be is a highly debateable number.

    Fans have been stung badly the past couple of years (financially and other forms of ridicule), its time to show us some facts!

    Show me the Profit & Loss and Balance Sheet on a monthly basis (What does it matter if its in public domain, for the next 3 years anyway). Show us a potential supplier quote for each of these grand plans, how that’s been funded and what the potential income expected is (i.e. RTV, how many subscribers are going to pay £6 a game for Div 3?, How much will the bar make?, How much will the hotel acheive?)…..

    Coming up with the ideas is the easy bit…..

    • ecojon

      @ Andy

      I think you may have to be barred from the site as you appear to have started to develop an enquiring mind with a healthy dash of paranoia 🙂

      From Day 1 as soon as I knew of Green’s involvement alarm bells rang after I got a phone call – within a few hours I knew the measure of the man and the piece of advice I got from everyone I spoke to was: Keep a note of everything he says and you will soon start to see the inconsistencies. Strangely I was told at that time he would be bad not just for Rangers but for Scottish Football.

      Tbh I wasn’t that bothered about whatever he was up to with Rangers as I did make efforts in the Murray era to shine a spotlight on the financials and got virtually nowhere. The reason I did it was as now – the effect of the potential fall-out on the Scottish game as a whole and in particular the danhers from the potential to stoke the flames of sectarianism which, to be fair to Murray, he kept some control over even if it was only to find an excuse for the orange strips.

      I have the feeling that this is either all going to end very quickly and with much anguish and snaughters or it will be a long lingering death and the real losers at the end of the day will be decent Rangers fans who love their club and football. Sadly the rest of Scottish football might be badly damaged financially in the debacle if fear lies ahead.

      • Andy

        @eco

        Perhaps. There is a big part of me that says, if Celtic can operate as they do, then Rangers should be able to pull off something similar, if correctly managed, and I did think okay if we are starting with a ‘financial’ clean slate then this should be pretty doable, as to all extents and purposes it appeared that debt servicing had been the main restraint on the club.

        So with this gone, the season ticket/match day tickets still high and the big earners gone, it all looks like it should be game on……but something from day one has felt suspicious about Green, and I dont know if it is just the facts he said he was here to make money, or there is something more to it, I just dont know. I honestly am still undecided, and until he shows us some hard evidence about where we are actually in respect to our financial health then I cannot fully pledge my trust to his regime. I truly hope they show us something definite.

        Most of the ideas sound pretty good IMHO, a rail link, a hotel, a nice bar, football academies, and like you say moving the training ground to around Ibrox could also be a good move, but until he can show us how its going to be done then it may as well be you or I telling us what ideas we have….I genuinely want it all to work out, no matter who is in charge, but Im not just going to throw money away!

        I hope the prospectus is thorough and answers all the questions….this will be the point in time I think I should be able to make a better judgement call on Green. For now he is the only show in town, so I have to give him his place, he hasn’t been all bad, but he hasn’t been all that good either…He certainly has a lot to prove..I think if you asked Rangers fans, who would you have liked to buy the club, most wouldnt know who Green was never mind have him on the list of preferred suitors, and that itself tells it’s own story…

        • ecojon

          @ Andy

          I have spent my life judging people on their past record but sometimes people whose judgement I respect tell me that someone has changed and I should give them a second chance or cut them a bit of slack. I have often done this and quite honestly I can’t think of a single occasion when this was the correct thing to have done as the people concerned returned to past form and in the process invariably further damaged others.

          chico’s previous business history doesn’t really fill me with confidence that he has ever been in anything for the long haul. His role seems to be as front man parachuted-in by ‘investors’ or as a salesman to raise capital often through flotations. I won’t dwell on the detail of his business activities as I have posted on this previously and no doubt will add to it when the spirit moves me.

          But after Rangers entered administration and the scale of the financial disaster fully emerged I remember thinking that it would be a 10 year project for Rangers to be back at the level they had been competing but this time on a secure financial basis and not on the back of creditors and taxpayers.

          I think the same conclusion was reached by the ‘Rangers Men’ potential investors and though I believe they would have been prepared for the long-haul I just don’t think they were prepared to put themself through the emotional pressure which would have been launched at them when they made the necessary cutbacks which were required to bring Rangers back on an even keel.

          Everything about the Green consortium to me was predicated on a quick return on investment with possibly a percentage of the initial stake left in for medium/longer term growth. When the SPL and Europe hammers fell then the scenario changed and things since then have been on a wing and a prayer with copious applications of snake oil IMHO and I have always thought it as a testament to chico that the original investors remained – if they didn’t I will remove the testament and in type the mystery might be revealed.

          It is easy to decry Murray and so he should be but he was a very clever businessman in lots of ways but like so many before him he allowed a ‘hobby’ to endanger his whole mainstream business financial structure. But he has looked at many of the things that chico is now espousing as the Holy Grail of footballing financial success and tried to make money off them. It is one thing for overseas football fans to retain links to the ‘old country’ as they grow old in a foreign land but it is entirely another to make any real money off them especially when their children and granchildren embrace the sports of their new land.

          The club and bar are penny-packet investment and might add £1-2 million annual net profit to the club and that’s good but means nothing in the bigger scheme of things.

          The involvement of developers in land around Ibrox which might belong to the club or can be obtained by the club for development purposes is where real money can be made – but that money will be made by the developers and Rangers will receive a relative pittance in return and there may be interconnecting relationships between developers and Rangers which complicate the financial situation.

          I won’t go into RTV and the £100 million a year that chico projects from it – it is a very difficult market with a handful of mega players who call the shots and tbh very few, on a world perspective, have any interest in watching even SPL games – it is a very niche market. As to SFL3 games well what can one say other than advise chico to take independent advice on the market sector because I have the feeling someone close to him is filling his heid with what he desperately wants to hear.

          At the end of the day top-flight football clubs make real money from success on the field of play which affects kit sales, season tickets, prize money and everything else including TV payments. The problem is that to even get a sniff of that success then inordinate amounts of money have to be spent of buying players and, more importantly, paying their wages.

          There just isn’t enough money in the Scottish Game to support even one big team to be able to consistently reach the upper levels of European football and the glittering prize money that awaits. Even Celtic has to sell its players because the best in the game are personally driven to play at the highest level and teams there can afford to buy them.

          So we are left with the conundrum that Rangers ended up where it is because they paid footballers too much to chase a dream which by and large was beyond achievement. Now chico with his super league and Euro smoke and mirrors once again fills the heids of fans with vapour.

          As I said earlier I reckon it’s at least a decade away and realistically I’m not sure it’s achieveable because for every year Rangers are away the top teams tend to get stronger although many may get into more debt despite the new Fair Play Regulations which we will need to see how they work in practice. As long as the payments, especially from TV keeps rising, things are fine but fashions do change and there are lots of new sports there making enormous marketing moves and gains.

          And, although Celtic, currently have an advantage over Rangers in European footballing terms, I do not believe they can build the financial muscle to consistently get to the latter stages of the top competitions unless they spend recklessly on players. Celtic won’t do that mainly because of its own experiences prior to Wee Fergus but also because of the recent ones suffered by Rangers which illustrate the catastrophe of poor financial probity.

    • COYBIG

      @ecojon

      This part is especially interesting:

      “The second is Pritchett’s claim that Rangers’ main revenue stream, the sales of season tickets, was projected to drop by 20 per cent, has turned out to be very probably worse than expected. Where once the figure was 44,000, we are told that the present regime has shifted 36,000, but at only half the previous prices, thanks to their now playing in the Third Division. This would suggest that the reduction in income from this source could be as much as 50 per cent. It seems very likely that the wage bill has been greatly reduced, but this is a conclusion drawn from the departures of so many known high earners on the playing staff and the subsequent recruitment of inferior (and, consequently, lower-paid) replacements. Green’s “revelation” that salaries now account for £6 million remains, like every other claim made since his takeover (including my own speculation on season ticket sales), merely hearsay. Until these statements are accompanied by documentary evidence – that is, audited accounts – nobody (possibly even Malcolm Murray) can be certain of Rangers’ condition.”

      • ecojon

        @ COYBIG

        I was interested in this myself and had a look at the discussions on the Darkside earlier to see what they were saying about the piece. In between the all the bile & boycott they dispute it was 50% and think 30% is more accurate. I’m not sure I would be reassured by the lower figure but any port in a storm as they say.

        And the ‘investors’ are still there beating the drum for the flotation and I would bet that not one of them is even a supporter. You see the genuine fans who can’t raise £500 wondering how they can get £50 quid’s worth of shares – basically your nomal fan that loves his team – to keep for their kids. And you have all these tossers talking in thousands – I just hope the ordinary Bears ain’t kidded-on by all the PR effort being employed to sell shares.

        I do believe when the circus leaves town that Malcolm Murray will be left stumbling down the road holding a very BIG bag leaking sh*t. Let’s hope he’s collecting a fair wedge at the mo to make it all worthwhile when reality strikes.

        • COYBIG

          @ecojon

          What’s strange tho, is Mr Murray could have easily showed proof Mr Pritchett is wrong, rather than giving a statement, which was just a roundabout way of saying “Don’t listen to the bad man, he’s just jealous”.

          Talking about proof – Charlie likes to continually announce how great everything is. But without any proof, it’s just hearsay that should be taken with a lorry load of salt.

          Put it this way, if you wanted people to part with £20m, wouldn’t you think showing proof that what you’re saying is true, would help persuade them to part with their money? Yes it would, so why doesn’t Charlie do that? The answer is probably as obvious as what suit Charlie will be wearing tomorrow.

  18. campsiejoe

    I wish this man and the Sevconians, would stop insulting all of us, and indeed the creditors left behind, when he waves the debt free banner in front of us
    It’s disgusting and immoral
    Charlie makes great play in his statements about income
    He does realise, I presume that income does not equate to profit, but I suppose boasting about £6 – 7 million income sounds better than telling us he will only earn £5 profit from it (and I do mean five pounds)

  19. COYBIG

    I read http://www.cityam.com/latest-news/rangers-shoot-20m-junior-market-offering yesturday. I had a wee look at it again today, it’s a joke artical made by a Celtic fan, isn’t it? Because if it’s not, then I don’t think it’s too long before the men in white coats are comming to take Charlie away.

    After reading that artical, I would probably prefer Vladimir Romanov running my club than Charlie Green. There are only two parts of the artical that could be deemed factually correct. One is when Charlie talks about himself in the third person, calling himself mad. The other is:

    “But Simon Denham of spread betting firm Capital Spreads, said he had doubts about the float: “With the club looking for £20m in funding, the immediate thought is that this is probably the operating revenue shortfall for this season and that the club will be looking for a similar injection every year until Premier League (or possibly ‘near’ premier) status is regained.””

    The latter is the part The Rangers fans should be most worried about. Needing to have a share issue each season, in which £20M has to be raise, just to keep the new club alive? Wow! Surely there’s a Scottish journalist who’s got the common sense, or the balls within his scrotum, to ask Charlie about this?……….I was holding my breath, but then I rememberd this is the Scottish MSM and The Rangers i’m talking about, there’s more chance of Charlie underwriting the current share issue than the MSM asking him a pertinent question.

    • ecojon

      @ COYBIG

      They have just swallowed the PR handout and haven’t even raised issues that their own papers have already carried. The projects that charlie casually throws in would take tens of millions to set-up before they earned a penny in profit or a player was bought.

      Everything is being gambled on league reconstruction happening in no more than 2 years but even then it will leave Rangers limping along – businesses with debts are not a problem despite what chico appears to be telling his fans.

      The problem is when a business can’t service its debt 🙂

  20. Once again, excellent and the same for Andy (I knew you could do it). All of this is fascinating, but we are all amateurs and, in a sense, disenfranchised. When will the Scottish media start asking these questions or should some of us start attending Rangers press conferences.

    • ecojon

      @ Violet Carson

      Amateur possibly – disenfranchised NEVER as long as the internet exists 🙂

      There actually is a subtle but distincy shift creeping into the media reports despite the heavy PR pressure being brought to bear.

      There are all sorts of veiled references to chico and his claims – not overt but enough to see that more journalists are starting to smell a rat. There will be the odd one beavering away looking for a big EXCLUSIVE and that prospect frightens the rest cos then their Boss will be demanding to know why they didn’t get it.

      I believe re Rangers press conferences that you now have to pay £2 a minute for a phone consultation with Ally – mystic meg he ain’t 🙂

  21. JimBhoy

    Baron Von Greenbacks rocks… Worldlywise and trustworthy gent who is only out to do only good and to help get rangers back on track with some fresh inventive ideas that have been bypassed by all the football thinkers. More fool them. Charles I back you all of the way and if i was a rangers fan I would be investing in your very clear vision of the future for the now debt free club. I wholeheartedly admire the clarity with which you have worked your magic so far and know you are a man of your word and full of integrity..
    As a Celtic fan I would certainly endorse the take up of your unobscured POI and I reckon you will far exceed the £30m that you wish to take in to add to the portfolio of the Ibrox club. I strongly believe interest in backing your leadership will be off the radar..!!

  22. mick

    great new video by phil and tommo (pet shop bhoys cover version a must listen

  23. mick

    just runnig throw the web and it seems the share floatation judging by todays figures and sourced from tsfm so far the pledges are at 22mil so if these figures are real that plugs the cash leaking wounds for 2 years by that time green will be gone and most likely admin due to the large cost structure of ibrokes but dont forget the undervaluesale and the 5 boxes at IR that states its a phoniox company con after con

    • ecojon

      @ mick

      Problem is about 25% are in Craigie’s name and the rest evenly split between Tims and Bears although the Tims are investing much higher amounts than the Average Bear – I wonder why 🙂

  24. mick

    “I have just received a letter registering my interest in buying a share in Rangers.
    The letter gives my number as 44662.

    Now if that’s how many have registered their interest,and the minimum issue is £500,if my number is how many have applied,and say we have all taken the £500 option,that makes it over the £20mill.

    £22,331,00 to be exact,can this be true?

    If it is,and not my counting,this would be amazing,even by Rangers fans standards

    • ecojon

      @ Mick

      I would be cautious about the number as I was watching the running commentary on the figs on the Darkside last night and it was thousands every minute – it just seemed all too good to be true.

      Although it was fairly obvious that Tim Posters were out in force.

      I have seen many internet sites boost their click rate so that one click is shown as 10 or 100 or whatever. I don’t suggest for a moment there was any attempt at such jiggerypokery here of course.

      If the figures were accurate and there was a full take-up then that would be good for chico but would certainly guarantee a follow-on float as soon as AIM would allow it all on the basis that it would give supporters who lost out the first time the 2nd once in a lifetime opportunity.

      There will be many twists on this road with blind summits and poor sight-lines before the end of the journey is accomplished methinks 🙂

  25. JimBhoy

    Piece of genius….Thoroughly brilliant…!!!

  26. Ecojon

    That’s what worries me about the media, they are looking for the big exclusive, “Green eats McCoist”, while people like you and Paul are asking all the bread and butter questions which the media should be asking. Might it not be an idea to send a list of the most obvious questions to, say, Mr. Traynor and let him do what he is paid for. And, while I am off on this flight of fancy, why not send such a list of questions to all media outlets and ask them why they have not put them to Mr. Green or, perhaps, on the phone to Mr. McCoist.

    • ecojon

      @ Violet Carson

      I think you might be quite surprised at the amount of journos who keep a weather-eye on the postings here and also PR people although the latter find it difficult to sustain the energy and commitment needed to trumpet their Master’s Voice when confornted with Gideon’s Trumpet 🙂

      The trick about getting a journo to print a story is to ensure that they believe they came up with the idea all by themself. So it’s enough to put the story out there – in any case these days any decent blog has many more readers than most Scottish newspapers. Not that I personally am into ego trips as mine was personally satiated many moons ago.

      Ally is a busted flush and will be left as one of the casualties at the end of the day which is a pity as I always liked him as a player in general although on the odd occasion during an Old Firm Game I could have vapourised him with the steam coming out my ears 🙂

  27. JimBhoy

    @Mick The registration numbers starts from 44 the international UK dialing code mate and I have received registration numbers (44)001-661, busy night last night mate… 🙂
    I reckon chico will make enough money to make a stairway to heaven…
    The baron rocks..!!

    • mick

      @jimbhoy they will get a shock when they see 20000 declans pats and joes wanting shares lol ,a was looking at the comments on most fans sites the most frequent word used next to his name is lunitic lol

    • ecojon

      @ JimBjoy

      Ah that explains why you couldn’t register Scotland as a separate country – all UK would use 44 and other countries their dialling code. What time was your app made Jim?

      Is that an Eddie Cochrane stairway?

      • JimBhoy

        @ecojon Apparently the foundation was laid in May and they are well underway to having 1/3rd of the stairway already built from the new Edmiston house supercasino. The plan is to offer the paying customer an unprecedented view of Ibrox on matchday from ahigh with their heads in the clouds..Might not be fully ready until the the bears are back competing in CL semi’s etc..But well on track..! The players will need to wear a luminous Orange strip for the high deck punters to see them.. That and flashing blue noses..

        • ecojon

          @ Jimbhoy

          Just managed to get a quick exclusive from chico on the stairway construction: “It’s like putting together a Meccano kit.”

          His famouse quote when he was Panceltica deputy chairman and selling the concept to AIM shareholders – that particular bit of engineering cost the shareholders £55 million when it collapsed.

    • COYBIG

      @JimBhoy

      So there has only been 662 people registered then, and not 44662 people?

  28. mick

    why dont we envite green to do a post were we can q and a him on it ??

    • ecojon

      @ mick

      Green is a nobody – much more important is Ahmad but even he is a relative nobody – the power lies somewhere in the shareholding and might be Naqvi.

    • JimBhoy

      @ Mick I initially read that ( I dunno why) as do a P on him…!!! 🙂 Wouldn’t be the first time IMO, the Golden shower hero..! Can I have P Bob.

  29. COYBIG

    I wonder if anyone has emailed AIM? To inform them a Company on their market is misleading potential investors, as to what it’s history and current financial position etc is.

    • ecojon

      @ Coybig

      Waste of time – The AIM market isn’t responsible for what’s in a prospectus and the only regulation is from the NOMAD who is paid by the applicant. But I think the NOMAD comes under the FSA which would provide an avenue.

      AIM is a total casino and I dabble for a laugh on the same basis I did as a kid when casinos first came to Glasgow. I allowed myself £5 on a Friday night to spend on roulette and often I made a couple of quid. There was free soft drinks and buffet food and great looking birds and I could usually get a couple of hours outa ma dosh. Ah yes those were the days when you could travel the world wi a tenner.

      When the fiver was gone it was into a pub for a few pints of heavy at 10p old money a time (That’s 5p in modern money) and then a bag of chips for the bus home. Simple times but lots of laughs and I often wonder when I look at all the money spent by people these days whether they are as happy as we used to be with so little.

  30. JimBhoy

    Just ordered my kids cuddly Charles Green toys for Xmas, pretty much in the mould of the meerkats from the telly adverts but you pull a string at the back and you get some words… Now the Quiz is what would be the 3 phrases frequently used by the baron?

  31. mick

    ‘Some Decisions Driven By Bigotry’
    “ave got a big mouth and am a yorkshiremen”
    “It’s like coming home, finding your wife in bed with the milkman, asking for a divorce and then a week later asking: ‘Can you forgive me? We’ll make up.’

  32. mick

    or sally saying hes nipping out to greggs

  33. JimBhoy

    @Violet Journos can and often do claim exclusives any time without real question… 3 exclusives on the same day by different papers is not uncommon… There were some great earlier posts on why journos act as they do and do not really investigate fact… lawsuits, shit managers and more probably… IMHO based on the stuff I have read on various trustworthy blogs, paper journos are 90% useless and usually a day or more behind, but when journos do not present real fact or scandalize nonsense to make a headline it makes a sane man wonder..! When they do not ask the simplest of questions to a statement from hi level media figures or appointed sponsors for big football clubs I question their agenda. Lastly and worst of all when they make their ill-informed judgement on some issue (See Jabba), they just seem naive, prejudiced and damn stupid… I question the benefit of these guys who purport to be best sports journos this country has…. If thats the case…. We are all doomed.. Exclusive..!!!! 🙂

  34. mick

    sevco are 4th in the 4 th tier of scottish football even when there not playing there a joke lol pmsl haha

  35. JimBhoy

    @Mick, Ecojon, what was the one he said about the press and newspapers and chips..Only good thing that you have in newspaper is chips?
    Also most of the EPL clubs are sh!t and the big clubs would rather play the rangers.
    Having a ball in the SFL…

    And for all those journos etc, it aint the third division, it’s the 4th, SFL 3… OK, close to the junior leagues, getting closer every away game..

    The Charles Green toys come as blood sucking vampires wi blue nose, the andy cameron joke telling toy (for 16s and over) and the zombie one, special edition in orange.

  36. ian lewis

    Just a few thoughts.

    1.Labour has been bursting a gut to get the Catholic vote back onside-don’t think Rangers will find Glasgow Council too helpful.

    2.Pubs are closing down all over the country -don’t think one that only takes in real money every second Saturday for half the year gets the investment juices going.

    3.The last company set up to combine Scottish football grounds with hotels went bust before you could say Gavin Masterton.(one for the bankers).

    • It’s been a while since I lived in Scotland but I’m fairly sure there isn’t a block “Catholic vote” not where I was anyway – I would hope that “Glasgow Council” take evrey proposal on it’s own commercial/social merit and act accordingly. Which in Green’s case should be not touching it with a sh1tty st1ck…

      I am curious as to the current state of the old Ibrox train station – any trainspotters on here?. Like Chucky I don’t have a scooby about the cost of outfitting a station or renovating the workings to modern standards of signalling equipment, ticket office, safety, disabled access etc, but it strikes me as needing a wee bit more than outfitting a bar…

      Chuck also likes to bang on about arsenal – arsenal had a massive boost to its balance-sheet by the whole Highbury development project. Ibrox isn’t Highbury Mr Green. Many of Green’s pronouncements seem to be cherry-picking successful projects from other football teams anmd sticking them on a list saying “they did it, we can do it”. Arsenal-style deleopment, check. Partnering with a major USA sports franchise (ManU and the yankees?) Check. LOL’d when I saw him talking about accessing markets in asia by signing korean and japanese players (a la celtic), check.

  37. Robert D Bruce

    Some of the financials being quoted are, in football transfer terms, a pittance but in working person’s time they are astronomical.

    Everyone should get their head around how much £1 million is to a working ST holder.
    If you earn £10 per hour ( minimum wage is £6.20 ) and work 40 hours a week, you earn £400 – easy stuff. Forget tax ( you may be a Rangers supporter ) and take a 2 week holiday every year without wages.
    In a year you will have amassed £20,000.
    Work every year like that for 50 years and you will have earned £1 million.
    Put 20 ST holders to work for you for that period and you will be solvent.

    Charlie talks about £20 million as though it were nothing.

    In his scheme of things £20 million will get him nowhere.
    £20 million will barely see Rangers through the season.

    Academies in the Far East and USA, he talks about.
    He has one of the best training facilities in the country and produces next to nothing with it. Why does he want to invest Rangers supporters money in foreign climes when young lads from Govan, Paisley, greater Glasgow and indeed all the airts and pairts of Scotland would appreciate the chance that these people are being offered
    . What about the people who you are asking to invest Charlie?
    Don’t their kids and grandkids deserve better?

    The academy that SDM built does not work just now. Rangers do not produce quality youngsters.
    By comparison, Celtic, this week had 35 players from the Senior team to Academy level all representing their respective countries.

    Charlie wants a fancy sports bar next to the ground.

    Do the punters want that ? I’d suggest not.

    Certainly when I go to the game I want to go to a proper pub, with proper atmosphere. A pub where the punters can swear and tear and have a good few pints before they head to the ground. Most I know would not be seen dead in a sterile, members only sports bar where bouncers will abound and anyone who is out of order will be liable to have their season book removed from them. No thanks CG.

    In any case does anyone think that the heavies in Glasgow will not be leaning on Chas if he dares to tempt punters away from their lucrative Saturday afternoon business in establishments like the Louden.

    Train station? For what reason?
    Costs will be many millions not the 1 million speculated on. I have experience of these people at Network Rail. Most won’t raise their backside of a seat if the contract is only worth a million.

    Who will pay for the running costs of the station?
    How often will it be used?

    Willie Wonka just created the chocolate factory for the Ibrox masses but can’t afford it.

    • ecojon

      @ Robert D Bruce

      Totally with you on the railway costs indeed it could swallow up the whole amount of flotation capital raised.

  38. AB

    “It is indeed Chico and lest we forget: http://en.wikipedia.org/wiki/2008_UEFA_Cup_Final_riots

    Oh Paul, ever the “neutral”.

    How are the riots relevant to Green using the Manchester numbers as evidence of the fanbase size?

    Or maybe it wasnt meant to be

  39. Ecojon, apologies for not giving you credit for the piece in mi first post.
    I can remember Sir Guy of Gisbourne raising a few chuckles when his name
    cropped up in July. Guy and someone called Jahanger Ahmed appeared to have had a few business adventures – but they looked strictly small-time. Guy and Craig’s money appear to be in the printing business, I think, but even that might not be self-made money. Guy’s father, possibly. Mather’s CV – complete with lion cubs, sounds impressive but it’s… bollox, basically.
    I think they are just stableboys looking after the livestock.

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