Celtic in a league of their own when it comes to reaping UEFA rewards

[amms 0]

On that subject, and I know it isn't exactly 'Rangers Chat' but this was posted on 200% at the weekend http://twohundredpercent.net/?p=24026

 

I've tangled with the author before when he's written about Rangers, he's a London based Tim and can't hide it normally. However he makes some interesting points and most of the Tims who read it went into full meltdown mode. Even with Champions League money they've got some problems looming.

[andy steel 0]

Of course he was, he brought you gifts and you put out for him, that's what it is. You never asked him to show you the receipts. In the end you got all the things from the sweetie shop you wanted, you gorged yourself on Wham bars and Red Kola, as far as you were concerned someone else was paying for it so why worry. The fact they were congealing round your heart and would kill you a few years later was neither here nor there.

 

After a long night in the Uni library, there I was, enjoying an illicit late night chips in curry sauce from the Chinese, when I read this and...all the pleasure of the grub just drained away.

[BrahimHemdani 1]

On that subject, and I know it isn't exactly 'Rangers Chat' but this was posted on 200% at the weekend http://twohundredpercent.net/?p=24026

 

I've tangled with the author before when he's written about Rangers, he's a London based Tim and can't hide it normally. However he makes some interesting points and most of the Tims who read it went into full meltdown mode. Even with Champions League money they've got some problems looming.

 

Very interesting article indeed, so they have £2m or so a year going out in debt servicing and repayments; probably manageable with CL money but could be a bit of a millstone before 2019.

[RANGERRAB 3,254]

Very interesting article indeed, so they have £2m or so a year going out in debt servicing and repayments; probably manageable with CL money but could be a bit of a millstone before 2019.

 

remember also that when the bunnet bought them back in 1994 he switched their bank to the CIS who are now a basket case needing to raise £1.5billion very soon. Giving out longterm loans like Ra poops got may well be called in if(as expected) the Bank of England take over the running of the CIS bank.

[BrahimHemdani 1]

remember also that when the bunnet bought them back in 1994 he switched their bank to the CIS who are now a basket case needing to raise £1.5billion very soon. Giving out longterm loans like Ra poops got may well be called in if(as expected) the Bank of England take over the running of the CIS bank.

 

They can't call in a long term loan but they could call in or cancel the overdraft facility.

[amms 0]

After a long night in the Uni library, there I was, enjoying an illicit late night chips in curry sauce from the Chinese, when I read this and...all the pleasure of the grub just drained away.

 

C'mon, chips are vegetables, you're almost on a diet eating them.

[amms 0]

Very interesting article indeed, so they have £2m or so a year going out in debt servicing and repayments; probably manageable with CL money but could be a bit of a millstone before 2019.

 

Without Champions League money it becomes a serious problem. It must help enormously that we're out the way for a few seasons too. They won't find a Wanyama every season either.

[BrahimHemdani 1]

Without Champions League money it becomes a serious problem. It must help enormously that we're out the way for a few seasons too. They won't find a Wanyama every season either.

 

Yes and with only one CL spot for the foreseeable future, winning the SPFLP will become more valuable than ever.

[rbr 1,247]

There is a very popular myth that whilst we are a financial basket case runs by shysters and crooks ( ok that part may be true lol ) .,the manky mob are a paragon of financial virtue where every season sees them reaping a financial lottery allowing them to hoard a future chest of money that will keep them well ahead for years if not decades to come .

 

As with all of these things the truth is in the details , under the last board and struggling with £18 million of debt (take the BTC aside for the moment ) we continually beat them on the park and also off the park transfer wise , bar McGeady going to Spartak their transfer dealings were pityful.

 

Now we are led to believe that everything over there is rosey bar the £36 million in loans that they are into the CIS bank for and the various other small amounts that they pay as dividends , not accounting for the shares that certain directors hold that Celtic must honour at full value when bought , Celtic have raised money via share issues since 1994 .

 

£26 million was raised in 1994 split between high worth investors ,£12 million to ie wee fergus (£9.3) and £14 million which was bought by over 10,000 fans .

 

2001 saw a further share issue of upto £22 million , exact details are unknown as to the exact amount raised but the following is an extract from their prospectus which was used to woo high worth investors such as DD , Martin O,Neil , Eddie Jordan and the clubs own Directors and certain players (who were given interest free loans to buy shares )

 

From the 2001 prospectus it states "The board has examined a variety of funding possibilities before deciding that this imaginative and innovative security is the most attractive to investors. We believe this issue will be very attractive as investors will be offered at a price of £1.25 and will convert into ordinary shares on September 1, 2007. If the ordinary share price at the conversion date is £1.25 or above then each share will convert into one ordinary share.

 

"Shareholders who have made this investment will already be in a position to make a capital gain. If the price falls below £1.25 then the shares will convert into more than one ordinary share. Therefore, the receipt of additional shares will protect the initial capital sum invested.

 

"Each new Convertible Preferred Share will carry a fixed dividend of four per cent, plus a participating dividend that can rise to six per cent, depending on Celtic's progress in the Champions League each year. So the new investment instrument allows investors to benefit directly from success in European competition."

 

 

Lastly in 2005 a further £15million was raised with DD underwriting £10 million of it , this was to be used to fund the building of lennoxtown, see below .

 

Celtic have announced a share offer designed to raise £15m to fund their new football academy and reduce the football club's debts.

 

Major shareholder Dermot Desmond will underwrite the issue to £10m but insists he does not wish to take outright control of the Glasgow club.

 

Celtic chairman Brian Quinn said it was needed to stay competitive in Europe.

 

"It must give a high priority to finding, developing and training high-quality players," he said.

 

Subject to shareholder approval, 50 million new ordinary shares would be available to existing shareholders and new investors, priced at 30p per share.

 

Celtic have long wished to improve their youth facilities and match that enjoyed in recent years by Rangers at Murray Park and Hearts at Heriot-Watt.

 

The first team is already seeing the enormous benefit of the country's most successful youth development programme

Celtic chairman Brian Quinn

 

Quinn's club have earmarked the Lennox Castle Hospital site to the north of Glasgow for their new academy.

 

"The board believes that, as well as continuing to retain and attract experienced players, we must build upon the already excellent results of the club's youth development programme," he said.

 

However straight after this was done , from Celtics own accounts it can be seen that they immediately took out a loan against it from the CIS bank .

 

there is no denying that they are bringing in money by the shed load but on the flip side they are heavily indebted , the Wanyamas of this world do not appear every year and this side dont look anything special , infact the star players which they seem to be banking on to get decent transfer fees are looking decidedly ordinary , time will tell.

[chilledbear 16]

No matter how much money they have, or us for that matter, this is Scotland 2013 not Rangers of the 1990s.