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Scottish Championship

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Promotion miss costs Dundee United

By missing out on promotion to the Scottish Premiership, Dundee United, a club that has often faced financial challenges, may have missed out on as much as £2m.

Most of the difference is accounted for in terms of prize money.   The gap between a 6th-11th place finish in the Premiership and second or third place in the Championship is around £700,000-£1 million.

European super league 'inevitable'

A European super league is 'iinevitable', according to Rangers manager Mark Warburton.  He is convinced that the globalisation of sport and an increasingly competitive TV rights market make it a certainty.

'If Bournemouih are competing with Bayern Munich for players it tells me that the market is skewed, and a European Super League can't be far away,' he told The Times.   'The big European clubs won't want to be left behind by smaller ones in England and if you're a broadcaster, which game would you rather show: Norwich v Leicester, or Arsenal v Rangers?'

Hibs fans urged to give bigger backing to buy out

Hibernian fans have been urged to give greater backing to their buy out vehicle, Hibernian Supporters Limited.   So far they have contributed £250,000 and own seven-and-a-half per cent of the shares.  It is hoped that by the end of the year they will have raised £500k.

Rangers ends joint venture with Sports Direct

Rangers is ending its joint venture with Sports Direct having seen off a legal challenge from the chain. Rangers gets just 4p in the pound from merchandise sold from the deal.  Unfortunately, there is a seven year notice period so disentangling from it may not be easy.

Losses down at Hibs

Hibernian have reported losses of £840,000, down on £1.2m the previous year.   The club insists that underlying finances are in good shape with a debt restructuring successfully completed.  A share issue raised additional funds and 19 per cent of shares are now held by supporters.

Long haul for Rangers

It could take at least five years for Rangers to regain parity with Celtic, a football expert has warned.

The club is currently losing £1m a month.   Dave King has promised to invest £30m, but so far all that has been forthcoming is a £1.5m unsecured loan.

Police raid Sports Direct HQ

Police have visited the headquarters of Sports Direct in Derbyshire as part of an ongoing investigation into takeovers at Rangers.    Sports Direct owner Mike Ashley has a nine per cent stake in Rangers.

Good and bad news in Rangers accounts

The latest accounts from Rangers for the six months to December 31st contain both good and bad news. On the postive side, the operating loss was down by £800,000, largely reflecting the fact that costs were down £1 million.  Revenue was stable at £13m, reflecting the fact that the alienated fans who had decided to stay away had already gone.

Rangers board shore up defences against Ashley

The new directors at Rangers have made loans of £1.5m to the club to keep it afloat while they seek longer-term finance.   This means that they will not have to take the second tranche of a loan of £10m from Mike Ashley which would enable him to appoint directors to the board.

New era at Rangers?

The Dave King consortium has acquired control of Rangers leading to hopes of a new era at the troubled club.  King is an exiled Glaswegian living in South Africa, where he has pleaded guilty to charges of tax evasion.  He is generally seen in a favourable light by supporters given the performance of the old board.    He will, however, have to pass a fit and proper person test.