Blog entry 6, 1/4/2010: Interesting times, on and off the field

[George Foulkes]

All things being considered, we Jambos could be a great deal worse off than our current situation.

 

For some time now our Club's financial position has not looked great with stories of last minute payments to creditors. But now both Rangers' and Celtic's finances are looking decidedly dodgy with larger debts than ours.

 

And now Romanov is reported as ready to take a second chunk of our debt and converting it to equity.

 

Our performance on the pitch is decidedly patchy and I have now joined the cautious brigade unwilling to predict the result of any game.

 

Yet again Celtic were slaughtered by St Mirren and Dundee United knock Rangers out of the Cup and so no team is currently either invincible or consistent.

 

On the management side, where jackets are on even more shoogly nails than politicians, with Mowbray given the bullet and even Walter Smith working without a contract, Jim Jefferies looks like he is in one of the more secure berths.

 

And, once he gets the measure of all the players and the injuries get sorted, he will have a fair squad with options that should provide him with a decent team.

 

I don't share the views of the Kickback posters who would consign Kingston, Obua and Suso in the same scrapheap.

 

Suso's goal against Rangers was a cracker and Obua has been putting in a good shift on a regular basis recently.

 

Off the field, it is encouraging also to hear that Romanov is now looking at the more realistic option of a ?10million main stand replacement with new hospitality.

 

This, together with developing the vacant space under the Wheatfield stand would give us a ground with the capacity and facilities to make the club financially viable on a year-to-year basis, with some wage savings and good commercial opportunities developed.

 

Then, if there was some way of having the cumulative debt dealt with separately, using the site value as collateral, there would be a real possibility of a new start for the club.

 

It is to Rangers that we might first cast a quick glance. There it has been suggested that the fans could buy the club. But Hearts could be taken over by a group of supporters more easily.

 

If the more wealthy fans were asked for a significantly larger stake with the resultant benefits being greater then the majority, with access to specially arranged bank loans, could buy in for the balance.

 

This may sound like a pipe dream but already some keen supporters are talking about it. What do you think? I would be keen to hear your views directly or via Kickback.

 

 

George Foulkes

1 April 2010

 

 

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[Ulysses]

George is writing at the invitation of the JKB management team, so we'd ask members to please keep the rules in mind when commenting on his blogs.

 

Ulysses

Administrator