We have no money?

[LisburnLoyalBear]

I see this used a lot on the board. I'm aware who Dave King is but not entirely knowledgeable about the Three Bears other than to think like Mr King, they are wealthy businessmen.

My question is why, if we have such wealthy men at the helm financially, then why is the Club portrayed as skint? Surely these men could recoup any potential losses by selling up?

 

[Papasmurf]

When you say portrayed, you mean the media?
I don’t think we really need to answer that.

 

[LisburnLoyalBear]

When you say portrayed, you mean the media?
I don’t think we really need to answer that.

I don't listen to what the so called media in Scotland peddle about our Club.
I meant portrayed as skint as in on here as numerous threads about the new manager at some point allude to the "fact" we have no money.
Being in NI, I don't know a big lot about the guys at the helm.

 

[TukTuk to Bangla]

I think King sometimes struggles to get his hands on his own money. If that makes sense.

 

[iaatpies]

Theres a big gap between what the club has available to spend and what the majority investors have available to provide further funding to the club.

King may well be asset rich but cash poor. Are the majority investors willing and able to provide funds?

 

[Its-Sebo]

Another factor is that this is very much a 'passion project' for the directors – there's a very very slim chance of them getting return on their money, and they know this.

As much as we can all say if we were minted we'd fire it all in to Rangers, these guys are firing in millions from their own pockets and would like to achieve the goals without having to give all their money away.

From where I'm sitting, we're secure and well covered but we still have to be run on a reasonably tight budget until we return to self sufficiency which is ultimately the goal of the board.

It's easy to confuse the line between our directors' personal wealth and the clubs wealth.

 

[CoplandRoad]

They may be wealthy, but they aren't dermot desmond billionaire wealthy.
they have done very well for us, but can't go on subbing us forever.

 

[The Lone Sniper]

The question is: do we have enough money to put Celtic back where they belong?

 

[TheAnalogKid]

I see this used a lot on the board. I'm aware who Dave King is but not entirely knowledgeable about the Three Bears other than to think like Mr King, they are wealthy businessmen.

My question is why, if we have such wealthy men at the helm financially, then why is the Club portrayed as skint? Surely these men could recoup any potential losses by selling up?

Because selling up would not come remotely close to recouping their outlay. They do it because they are bears.

Likewise people calling for fresh investment from outside sources, AJ's pals etc. You cannot invest in RFC just now. You can throw good money at something you love, but you will never get it all back.

 

[Stevie13000]

The question is: do we have enough money to put Celtic back where they belong?

And the answer is a glaring no

Unless we get a sugar daddy we are royal fcuked for years to come

 

[aghalee_hero]

The club has to become self sufficient, we cannot rely on people to constantly throw cash at it and expect them to take it on the chin with no return.

 

[Kaiserweiss]

The club has to become self sufficient, we cannot rely on people to constantly throw cash at it and expect them to take it on the chin with no return.

If that’s the case! Then we are royally fucked.

I pay just as much as a beggar does at the giro dome so why am I seeing inferior football and leadership both on and off the park.

This current management search has been the straw that broke my back with this board. Robertson is weak and very poor at his job, we employ trainer, we have done nothing to suggest we will
Challenge them unless they regress which given the average age of their team won’t be for 3/5 years

 

[Der Berliner]

People should remind themselves that King is the chairman with 15% shares of the company, not 51+%. He does NOT own us and can't throw money into the company for "virtually no return", one would imagine.

AFAIK, the RO article states that he made / will make 7m available for the next financial year or so (can't check that right now), and we'll have a share issue which may reduce the debt and hand us some more cash to spend. We still need to be prudent and "a couple of more Candeias" for as much money as we paid for him might go a long way making us more happy.