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barca72

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Everything posted by barca72

  1. He said that it would be announced in the next few days. When I told him that our NARSA club might run a bus to the game ( that`s an eleven hour drive ), he said what the hell and took my email addr. to let me know the block-booking details. Everybody wants to make sure they don`t miss out on the bucks !!!
  2. Sorry wasp, I just called Jake at the ticket office and he has confirmed that the game on the 23rd July, kick-off 7 p.m., is against the Ottawa Fury FC at Lansdowne Park, Ottawa (the old Ottawa Roughriders park of the CFL). They are a newly formed team in the NASL, and played their first game on Feb. 26 2014. They are currently placed 8th, pld 7 pts 7, in a ten team league. I think the NASL is a higher league than the USL. Hopefully they are at least on a par with Dunfermline etc. Their two nearest neighbours are the Montreal Impact and Toronto FC, both of whom are in the MLS. Full name Ottawa Fury FC Founded 2011 Stadium TD Place Stadium and Keith Harris Stadium Ottawa, Ontario Stadium capacity 24,000 and 3,044 Owner Ottawa Sports and Entertainment Group (OSEG) President John Pugh Head Coach Marc Dos Santos League North American Soccer League
  3. Here`s the proof. He`s admitting it outright. No sponsor for the Premiership, no interest in their games from TV. How long can this guy continue to be in charge of the SPFL? SPFL chief Neil Doncaster offers to revamp TV contracts after Hibs plunge into Championship battle with Hearts and Rangers May 27, 2014 03:00 By Keith Jackson 2 Comments RECORD Sport can reveal Doncaster has invited telly bosses to discuss swapping Premiership matches for Championship games. SPFL chief executive Neil Doncaster SCOTTISH football’s TV deal could be ripped up and restructured for next season after Hibs crashed out of the top flight and into a Championship battle with Hearts and Rangers. Record Sport can reveal SPFL chief executive Neil Doncaster yesterday approached broadcast partners Sky TV, BT Sport and the BBC, offering to open discussions on how to restructure the contracts and allow them to screen more live matches from next season’s second tier. And the talks are likely to centre around four Edinburgh derbies which, as things stand, can’t be shown on mainstream channels. Under the terms of the current agreements, Sky have first pick on a maximum of five Championship matches, all including Rangers. BT then have the rights to pick up another 10 Rangers matches while BBC Alba are able to hoover up a further 16 games, none of which can involve the Ibrox side. But Doncaster has now invited telly bosses to get back around the table to discuss swapping Premiership matches for Championship games. And it’s anticipated both Sky and BT will be looking to pick up the Hearts v Hibs clashes. A spokesman for the SPFL said: “The first year of the SPFL provided some incredible drama. The interest in Scottish football is likely to be even greater next season. “We have regular conversations with our broadcast partners. “We expect to announce arrangements for season 2014-15 in conjunction with them in the coming weeks.” BBC Scotland could yet consider showcasing Championship games on their main channels rather than Alba with only around 1.2 per cent of the population believed to be Gaelic speakers. But if Sky and BT make a claim on matches involving the Edinburgh rivals then they will be accommodated first. The current broadcast deals are worth around £15million a season.
  4. Since there are no games in the Premiership worth watching next season, it`s quite possible that the TV companies will broadcast more games from the Championship than anything else. What a chance for the teams in the Championship, 1st and 2nd divisions to renegotiate a fairer distribution of TV monies between the rest of the teams, rather than the bulk of it going to the scum. What with reduced gate money, reduced TV money and if they get kicked out of the CL qualifiers, it may just be that we will compete with them in our first season back. Really, how hard can it be to spread the wealth?
  5. I remember seeing the fan`s video at the time and wondering why so many police officers with spaghetti on their caps were assembling on the track between the main stand and the Broomloan Rd. stand, before they unleashed the charge into the stands. From the video available I could not see any crowd disturbance. It looked like it was a planned action then and now it has so proved. I am glad that you guys stood up to this harassment and attempted intimidation.
  6. I agree up to a point, but unfortunately our support doesn`t appreciate effort as much as they do winning leagues.
  7. These guys are good at their own level, for sure, but up against the kind of tackling and refereeing we have watched in the last two seasons they would not have made it. Remember how many games we just managed to squeak through? That comes from experience. You can`t put that many youngsters into the first team all at once in front of our support, they would roast them alive.
  8. No it wasn`t pointless. We could not attract or sign the players we really wanted but we had to sign these guys to win the last two leagues as the kids couldn`t cut it. With the way this board has run things economically and with the lack of ST sales it looks like these guys are going to have to win the Championship for us too. In the event we have a lack of quality or youth, then dross will reign. If it means that`s how we win leagues, so be it. I know, I`m scunnered too.
  9. double post
  10. He led the charge from the SFL 1 teams to stay with the SPL teams and create the SPFL. His payoff was a better TV deal for the SFL1 teams, supposedly. We`ll see how he likes the crowds in the premier division next year. In the process they dumped David Longmuir. ( IMO the sanest voice in Scottish football at the time ) I hope he misses the Blue Pound by getting promotion and then being relegated after one season. Pay back is a bitch, Les Gray.
  11. Well done Atletico, spread the wealth.
  12. If the fans are satisfied with the action of the board and the board recognize that the fans have the power to demand accountability, then this agreement may move us forward quickly.
  13. I suppose Budge thinks he`s the best she can afford for now. I wonder who he will go for as manager - Jackie McNamara (Dun. Utd.), Danny Lennon ( ex St. M.) or even Neil McCann ( Dunfermline ) ?
  14. I watched quite a few of the Whitecaps` games last season. Miller has slowed a little bit, on short runs he`s still pacy, but has great stamina. The MLS is more high tempo than the Scottish game but not quite as physical. For the most part he was a step ahead of his teammates when it came to laying off a pass for them to run onto or making a run that they failed to see quickly enough. You could see that he was by far the most experienced player they had and he never stopped trying. In fact I would see Kenny as more of an attacking midfielder, rather than an out-and-out forward, pumping balls through to Clark, Aird and Gallagher to run onto.
  15. Does the money that Somers and Easdale paid for the 1p shares go to the club as income? If so, is that what this board is calling available investment ?
  16. http://vanguardbears.co.uk/ Evidence-Based Mathematics Written by: Ulster Loyal Wednesday, 7th May 2014 Much has been said and written about the finances of Britain's most successful sporting institution, Rangers Football Club. Speculation over the possibility of a second administration or likely direction of the share price has dominated Rangers based conversations in many a pub and many an internet forum. Not all of these conversations are helpful when they are presented in public, through various media, with no factual substance. They can subsequently cause unnecessary, widespread alarm and subject the club to destabilising influences, such as supporter boycotts and police investigations. The preferred way forward for all supporters should be to thoughtfully and objectively use the available information in Rangers' financial accounts to present a factual representation of our club's current business operations and forecast it's likely success going forward. Mathematics can help us to analyse the prospect of a company entering bankruptcy. On 25th December 2013, the following report was prepared, and posted on the Vanguard Bears forum, regarding the likelihood of Rangers going bankrupt: --- START OF ANALYISIS --- Rangers International Football Club (RIFC) has an Altman Z2-Score of 2.25; a statistical bankruptcy meter generated from a set of balance sheet ratios. Q – Are liquid assets a significant proportion of the assets? A – RISK •Testing: Working Capital/Total Assets > 0.2375 •RIFC Details: Working Capital/Total Assets = 0.018 Q – Do reinvested earnings make up a significant portion of the assets? A – SAFE •Testing: Retained Earnings/Total Assets > -0.1355 •RIFC Details: Retained Earnings/Total Assets = 0.34 Q – Are the assets relatively productive in terms of earnings? A – SAFE •Testing: Earnings Before Interest and Taxes/Total Assets > -0.082 •RIFC Details: Earnings Before Interest and Taxes/Total Assets = 0.019 Q – Does firm value compare favourably to its liabilities? A – RISK •Testing: Market Value of Equity/Book Value of Total Liabilities > 1.439 •RIFC Details: Market Value of Equity/Book Value of Total Liabilities = 0.89 Regarding the Altman Z2-Score: •Greater than 3.00 = good financial health. •Less than 1.80 = a company is in the distress zone and is in serious financial trouble; the distress zone is 80-90% accurate in predicting bankruptcy. •Rangers' score of 2.25 indicates it is not entirely safe from financial distress and investors should be cautious. --- END OF ANALYSIS --- The problem with supporters warning of the imminent arrival of another financial collapse at Rangers is that they have no statistical analysis to give credibility to their claims. When the share price was at around 33p, it was my opinion, reached using mathematical evidence, that the likely intrinsic value of Rangers was closer to 25.67p. I made similar comments in October 2013 when the share price was around 43p. The following analysis regarding an estimate of the true share price valuation of RIFC was also carried out in December: --- START OF ANALYSIS --- a) Discounted Cash Flow Valuation Method (forward looking growth model): 0p per share; 100% overvalued (due to negative cash flows that are not forecast to increase in the next 8 years). This is based on the following inputs: •The company's sustainable cash flow is -£12.61m (taken as the average between latest free cash flow (-£18.9m) and 3 year average free cash flow (which includes 2 years of £0 due to not having data for those years, making this valuation input more unreliable)) •Expected growth rate of cash flow of 0% for the next 8 years (3 year average cash flow growth, 5 year average cash flow growth, year 1 forecast earnings per share growth and year 2 forecast earnings per share growth are normally added as an input here but that data is not available for Rangers at this stage, making this valuation input more unreliable) •The company should settle into a long term growth rate of 3% (if we don't have reliable forecasts, we default to normal inflation levels and that is what we've done here) •Investors require a return of 15% for the risk they are taking (due to being a small cap company, 9% would be applicable to large cap companies) b) Earnings Power Value Valuation Method (zero growth model based on current earnings): 25.67p per share; 23.4% overvalued. This is based on the following inputs: •Sustainable level of revenue is £19.11m (latest revenue; 3 year average revenue and 12 month rolling forecast revenue is normally included but we don't have these inputs for RIFC, making this valuation input more unreliable) •Across the economic cycle, the operating margin in 7.8% (we normally take an average of a 5-10 year operating margin and a trailing 12 month operating margin but we don't have that data for RIFC, making this valuation input more unreliable) •On average the company see £0m of 'exceptionals' (we normally deduct the long term average of non-recurring charges but we don't have this data for RIFC, making this valuation input more unreliable) •15% of historic selling, general and administrative expense has funded growth (typically 15% to 50% of this is added back to a company's Earnings Power Value to make up for the fact some of that expenditure went towards funding growth as opposed to maintaining the existing asset base; Earnings Power Value only takes into account current earnings and is a zero growth model; we don't have enough data for RIFC on this value so we assume the minimum standard of 15%) •Each year, the company spends -£2.48m on maintenance capital expenditure (capex) (maintenance capex can be calculated by subtracting growth capex from total capex; again, we don't have long term forecasts for this based on historical figures so we are largely estimating these on limited results from the previous earnings report) •Investors require a return of 15% for the risk they are taking (due to being a small cap company, 9% would be applicable to large cap companies) c) "Relative to Sector" Valuation Method: 92.51p per share; 176.2% undervalued Based on the following inputs: When we compare RIFC to the Hotels and Entertainment services sector, we have the following valuation ratios for RIFC: •Price To Book Value: 0.39 • Price To Tangible Book Value: 0.57 • Enterprise Value To Earnings Before Interest, Tax, Depreciation and Amortisation: 3.14 • Enterprise Value To Operating Profit: 8.38 • Enterprise Value To Sales: 0.66 By comparison, we have the following corresponding valuation ratios for companies in the Hotels and Entertainment Services sector: •Price To Book Value: 1.95 • Price To Tangible Book Value: 2.19 • Enterprise Value To Earnings Before Interest, Tax, Depreciation and Amortisation: 12.7 • Enterprise Value To Operating Profit: 18.3 • Enterprise Value To Sales: 2.10 The Relative To Sector Valuation Method compares RIFC's valuation against the median multiples of the company's sector peer group. d) Net Current Asset Value Valuation Method: 0p per share; 100% overvalued Based on the following inputs: The company's current assets (long term assets are not included) are £16.5m • Cash And Short Term Investments (trailing 12 months) £11.2m •Total Receivables, Net £5.23m •Total Inventory £0.085m •Other Current Assets £0.000m The company's total liabilities are £24.7m • Total Current Liabilities £15.1m •Minority Interests £0.25m •Deferred Tax £7.82m •Total Long Term Debt £0.96m •Total Other Liabilities £0.52m The shares outstanding are 65,095,856m e) Net Working Capital Valuation Method: 0p per share; 100% overvalued Based on the following inputs: •The company's Cash and Short Term Investments are £11.2m • The company's Inventory is £0.085m • The company's Receivables are £5.23m • The company's Total Liabilities are £24.7m • The Shares Outstanding are 65,095,856m f) Tangible Book Value Valuation Method: 59.1p; 76.4% undervalued •The company's Book Value (total assets minus liabilities) is £56.9m • The company's Intangible Assets are £18.4m • The company's Goodwill is £0.000m • The Shares Outstanding are 65,095,856m --- END OF ANALYSIS --- The following commentary from the 10th of January 2014 further explained the information provided on the 25th of December 2013. --- START OF COMMENTARY --- "As you can see there are only three valuation methods that assign a value greater than 0p to Rangers; Earnings Power Value, Tangible Book Value and Relative To Sector. There are only two valuation methods that assign a share price that is higher than the current level of 28.5p. However, investors likely won't use these methods to value Rangers, and inform their investing decisions, for the following reasons, thus eliminating any mathematical reason to think that the current share price is cheap, based on an objective analysis of the company's financial results: Relative To Sector is an unreliable valuation because it compares Rangers to the Hotels and Entertainment Services sector, based on how the stock is classified by the stock market. It would be better to only compare Rangers to other football clubs but there is a shortage of listed football clubs and the sample size would be too small to draw any conclusions. The Tangible Book Value method is good at valuing the club's assets. However, value of assets is very different to the value of the business. If the assets are not generating sufficient income to make a profit, then investors lose confidence in the ability of those assets to generate future growth and profitable cash flows. As a result, the business is worth less to those that may seek to invest in it. If the company is liquidated due to large debts, the investors likely won't see the value of the assets they invested in because shareholders are below creditors in the capital structure of a business. Therefore, an investor does not invest on the basis of the book value of the assets of a company but rather the ability of those assets to generate a return on investment. Now, the only method left that assigns a value to Rangers, and would be a realistic evaluation of the club's true worth as a business, in the opinion of investors (which is largely what dictates the share price), is the Earnings Power Value method. This valuation metric values the club based on current earnings and assumes no growth in the company (which can't be measured anyway due to negative cash flows). It is a realistic valuation because it makes no assumptions about future growth, which can be inaccurate, and is only an analysis of the present situation. According to the Earnings Power Value method, Rangers is valued at 25.67p. Therefore, the current share price of 28.5p is close to being a fair valuation of Rangers. Rather than speculating on boardroom battles and their subsequent effect on the share price, I have simply looked at the value of the business from an objective, mathematical view. In the long term, a company's share price will converge with its Intrinsic Value. It's just mathematics and market forces. The downwards movement in the share price of Rangers comes as no surprise to me." ---END OF COMMENTARY--- The best way to comment on the financial situation at Rangers is by working with the facts, not by letting unfounded allegations cloud your judgement. History will show us which commentary - evidence based mathematics here on Vanguard Bears or the agenda-driven, emotional rhetoric from power-seeking, self-proclaimed fans' representatives - proved to be an accurate account of the financial picture at Rangers. It is now the 7th of May 2014 - Rangers is still operating and the share price is 23.00p.
  17. I don't think the match continued in the way we thought it did ... http://www.irishtimes.com/news/world/europe/another-night-of-shame-for-italian-football-1.1783324 Another night of shame for Italian football The country’s PM looked on from the stands as officials ‘negotiated’ with a Napoli ‘ultra’ Gennaro de Tommaso, the leader of SSC Napoli ‘Curva A’ supporters, wears a shirt reading ‘Speziale Libero’ as he sits on the railing prior the Italy Cup final. Photograph: EPA Paddy Agnew Topics:NewsWorldEuropeDaniele De SantisMatteo RenziMore Topics Sun, May 4, 2014, 13:13 First published: Sun, May 4, 2014, 12:34 In the end, the most disconcerting image that will remain of last night’s Italian Cup final in Rome will be that of officials and police involved in a touch-line “negotiation” with a Napoli “ultra”, the well-known son of a Mafioso, seeking his “agreement” to let the match start. Even more disconcerting, perhaps, is the fact that this “negotiation” took place not only on live TV but in front of a packed VIP stand at the Stadio Olimpico in which sat, seemingly powerless, Italian prime minister, Matteo Renzi, president of the senate, Pietro Grasso and the head of parliament’s anti-mafia commission, Rosy Bindi. Even by its own less than salubrious standards, Italian football has touched a new low. This latest “night of shame” began on Saturday afternoon, some hours before Fiorentina were due to meet Napoli in an eagerly awaited Italian Cup Final at the Olimpico in Rome. Media reports claim that a group of Napoli fans got into a violent altercation with a well-known Roma ultra, 48-year-old Daniele De Santis, who runs a small huckster stall close to where the Napoli fan buses were parked, at Tor di Quinto, three kilometres away from the stadium. Enraged by the Napoli fans, De Santis reportedly attacked them first with fireworks and sound bombs before he pulled out a gun, shooting six bullets and injuring three people, one of them seriously. When other Napoli fans got to hear that 30-year-old Ciro Esposito had been shot at close range in the chest (he may risk paralysis since a bullet lodged in his spinal chord), they then turned back, looking for De Santis. Having found and surrounded the Roma ultra, who appears to have been alone, the Napoli fans then beat and kicked him mercilessly, cracking his skull, breaking one leg and inflicting other serious damage. By the time, fans arrived at the stadium last night, news of this and other less serious scuffles in and around the stadium had gone viral with many wondering if the match would be played. Worse still, given the lack of precise information, rumours began to spread that the three Napoli fans had been shot by Fiorentina fans. With the Napoli fans seemingly on the warpath and perhaps ready to stage a pitch invasion, police and match officials called on Napoli team captain, Slovak Marek Hamsik, to join them in pitch-side negotiations with Napoli ultras to calm the atmosphere. Among other things, Hamsik told the fans that their Fiorentina counterparts had had nothing to do with the shooting incident. The problem about these “negotiations”, however, was that one of the Napoli ultras was a certain Gennaro De Tommaso, son of a camorrista, linked to the Misso crime family in Naples. Worse still, De Tommaso was wearing a t-shirt which read “Free Speziale”, a reference to Antonio Speziale, a Catania fan sentenced to eight years prison for having killed police inspector Filippo Raciti during violent exchanges between police and fans prior to a February 2007 Catania-Palermo Sicilian Serie A derby. Sitting arrogantly astride the stadium perimeter fence, De Tommaso and his t-shirt went all around the world on live TV. After lengthy negotiations, in front of a seemingly irrelevant prime minister, the ultras decided that the game could start. For the record, Napoli won the ensuing match 3-1. Police and Football Federation officials today defended their handling of the situation, arguing that in the powder keg atmosphere of the Olimpico, the major priority was to ensure that the match took place. The authorities were worried about the prospect of 60,000 Napoli and Fiorentina fans have to exit the stadium at the same time. As it was, there were no serious post-match incidents because the Fiorentina fans were escorted out immediately after the final whistle whilst the Napoli fans remained in the stadium for the post-match celebrations. This most recent incident recalls the ugly events of the Roma-Lazio derby of March 2004 when none other than Roma idol, Francesco Totti, was forced into a similarly humiliating pitch side negotiation with Roma ultras. On that occasion, a rumour, subsequently proven to be totally unfounded, had circulated amongst the fans that a child had been killed in pre-match skirmishes between police and fans. Remarkably, the Roma ultras demanded at half time that the game be suspended. To the eternal shame of Roma, Lazio and Totti, the ultra had their way and the game was indeed suspended. Ironically, one of the Roma ultras who stood pitch side that night to “convince” Totti was a certain Daniele De Santis, the man allegedly at the centre of yesterday’s shoot-out. In ten years, Italian football has made a lot of progress.
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