As ever, I’m indebted to football finance expert David Low for keeping an eye on this stuff.
Rugger Guy messaged me this morning to remind me that this most recent donation would cover part of the £7.5m that was mentioned in the accounts.
That was the sum that was required for the nine-year-old club to keep the lights on a while longer.
As David stated on Twitter, what the chaps in the Blue Room are doing is legal, but hardly sustainable.
As David pointed out this cannot go on forever.
Consequently, the riches of the Champions League next season is vital for the Sevco High Command.
That is yet another reason why the suits in the Parkhead boardroom need to be fair with Ange.
The weakness of the Celtic bench was very visibly demonstrated when the Australian was trying to see out the game in Germany.
It was pointed out to me that it was only 56 days between both matches against Bayer Leverkusen.
The improvement in this Celtic side under Postecoglou is eye-popping.
He clearly knows what he is about.
However, it very much remains a work in progress.
If Ange has additions to his squad in time for the midwinter training camp, then that will be a good indication that the days of boardroom meddling in football matters is over.
Celtic are undoubtedly the wealthiest club in Scotland.
Consequently, there is no reason why Ange cannot be supported at the start of January.
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Operation “Sell Aribo” in full swing I see.
Plenty free advertising space in the Stenography column inches on a day to day basis [as predicted].
No apparent need to sell in January and destined to make a tidy returns in the near future is the feel good Yuletide message 🙂
Succulent Lamb and a world class breakfast back on the Menu at Mordor?
They won’t go bust – as long as Directors keep holding whip rounds. Two questions therefore, can they make it through January without weakening the squad? At what point do they breach Financial Fair Play and what happens with regards to European competitions if they do?
My fear is that the Celtic board are too invested in the OF trademark to give Ange the support to stop Sevco’s 2 in a row.
Did you see this headline in the GT today?
“Glasgow circus school wants to open centre near Rangers’ Ibrox Stadium”
By Stacey Mullen @journostacey
Assistant Editor.
There is a joke there somewhere… and guess the article could also disappear into the ether soon. 🙂
It’s similar to poker , they keep throwing money in hoping they get the CL pot , if they fold they lose all that investment , if they keep on funding and fail when the cards are shown then they lose even more. The elephant in the room is getting a euro licence refused due to breaking the 3 yr accumulated loss limit and Mike Ashley hitting them with an unpayable bill.
Other major problems are attracting outside investment at this ridiculous 25p rate and King who will now want a higher price for his shares. I have also heard that Park’s family are unhappy with their inheritance being squandered on keeping this club* living beyond its means .
There is no market for the shares at a club playing out of iPox ,does that not make the shares worthless?
I’ m beginning to think that certain confetti shareholders will get a good percentage of their money back . Perhaps some will even earn interest.
Strange that they feel the need to dilute even further .
Where’s the SG compo ?
Some would have you believe this is the sevco board philanthropically supporting the “club”. That would maybe be the case had those directors just handed over the cash. However, what they are doing is plugging gaps in the sevco finances and diluting other shareholder’s in the process. They are keeping their shareholding proportion while other shareholders proportion is quickly reducing with every confetti issue. A Friday night must be a scary time for those other shareholders. While it may seem to be money down the drain the hope that some future turnaround will increase the share value and potentially return this money is still there. It’s a gamble but at the cost of other shareholders.
So don’t let’s be hoodwinked that this is another example of the sevco board’s commitment to the club. No more than your commitment to your house if a hole appears in the roof. If you don’t find money to deal with the hole you have a risk of losing the whole house.
What would be a better model would be to cut their cloth accordingly and run the club in a sustainable way. Last season’s league win could end up being a pyrrhic victory. A combination of things contributed to Celtic losing the title. Injuries, covid, the commitment of some players, Lenny squandering £5m on a keeper and striker, a loan player masquerading as a centre half and let’s be fair, a very motivated sevco team who performed above what anyone expected.
Hopefully our board are never in a position to even need to consider, however unlikely, putting money in to keep the lights on.
Hopefully that wasn’t too “happy clappy” an opinion for some.
JS.
Yes, “donations” indeed.
RIFC has never been a business: it is a charity case.
And the SFA blazers will continue to snooze at Hampden, unconcerned… 🙁
A quick calculations. If they’re valuing the company at £104m and are continuing to pay 25p per share, it implies that there are now 416 million shares out there.
A few short years ago there were 80 million.
Another quick calculation would show that means 336 million new shares have been created since that time. Or to put it another way, £84,000,000 has been thrown down the Sevco drain.
A truly gob-smacking amount of money to spend to keep a bigot show on the stage.
Must be the ONLY business in the world in which the number of shares can be doubled, or quadrupled, or multiplied by any number you care to pull out of a hat, yet the share value remains the same.
If Ange is given the support he requires then I can see us as a champions league team within the next 2 years, in Ange we trust, not the board HH
….”it’s risky, legal, and they can do it”. “…directors are writing off millions of their personal wealth each month…” The golden eagle shits again. Who are we kidding? The money is coming from somewhere……and it won’t run out soon. Ever heard of money laundering? Add this to a couple of Boumsong style deals in January and there is plenty to finance a latter season run towards the big bucks of the Champions’ League. Write them off at your peril.
You could be bang on there. If EVER there was a case for the financial authorities to follow follow the money, it’s right in front of them.
Money laundering is putting in dirty money and getting clean money out. This is money squandering.
Totally agree they will find the money they need to get to the end of the season .The 12th man will be great help in getting them the points they require for the champions league windfall rinse and repeat the whole pantomime again
There’s a few kids and grandkids gonna have to make do with oranges in socks for another Christmas with this issue 🤣😂🤣😂
The Celtic board who have shown by their actions (or inaction as the case may be) of their backing of the “old firm” brand could very well decide to let sevco retain the league title and the champions league rewards that come with it by not sanctioning the support that Ange requires to kick on and claim the title for Celtic.
That could help stabilise the situation at ilbrox.
There is no way this Celtic board want to bury that club the way we Celtic fans do.
It is truly staggering how much the Board at Ibrox have personally invested . They care. Compare to our Board. We may be the richest but we won nothing last season, sit four points behind, haven’t beaten them in 8 matches over last two years and they are still in the EL we are not. We have a huge task ahead to win back this title I won’t claim improvement till we are able to win a match against them or overhaul them in the title race.
Murray shuffled £50m at £1 per share in 2004 and held 91% of the soon to be deceased and still only got £1 back. As Whyte admitted he never physically paid the nominal pound I always wondered whether Murray would one day declare the transaction null and void?
What if…. The celtic board don’t want sevco to die?
So, that’ll pay for this month’s losses but it might be thin gruel for Christmas without more equity confetti.
First of all,let me say,I am not in any way a money expert,I’m just curious,since the inception of the rangers football club in 2012, how many shares have been issued?,it seems to my untrained eye,they just keep issuing shares whenever they need money,again,apologies for my ignorance.
I’m afraid ange won’t be given what he wants as the league this season must go to the south side, as it is even more important to be guaranteed the champions league money this year. Celtic as always need the blue pound.
There is of course, a reason that Ange will not be supported in January.
That reason is a parsimonious board