Tag Archives: revenue

Manchester City on course for Financial Fair Play despite losing 100m

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Man City lose 100m… but insist they're still on course to meet financial fair play rules

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UPDATED:

17:20 GMT, 14 December 2012

Manchester City have revealed annual losses of almost 100million –
but insist they are still on course to fall in line with the new
financial fair play rules.

Although City's losses have been halved, they still posted a loss of 97.9m in the annual report for the 2011-12 season. City's overall wage bill rose from 151.6m to 178.1m.

Value for money: Manchester City have announced an interesting set of financial figures for the year

Value for money: Manchester City have announced an interesting set of financial figures for the year

The new financial fair play rules – that are introduced at the start of the next Barclays Premier League season – which require clubs to meet a series of stipulations.

City are confident as 15m of the losses comes from infrastructure and youth development costs, while approximately 80m comes from contracts that pre-date 2010, from which City expect to get some kind of relief.

A statement read: 'Whilst the 2011-12 financial results represent a
further step towards achieving the club’s objective of long-term
sustainability both on and off the field, the application of UEFA
allowable reliefs for certain categories of expenditure and investment
in 2011-12, position the club well for compliance with UEFA’s financial
fair play regulations which come into effect in season 2013-14.'

City's annual figures also revealed that they have recorded whopping
revenue of 231.1m – the first time they have smashed through the 200m
mark.

While the results show marginal increases in gate receipts and TV revenue, it is in the commercial sector where City are making huge gains.

Revenue went up from 64.7m to 121.1m, underlining City's increased growing global exposure, which is being shown in all areas, from merchandise to club tours.

The statement continued: 'This year’s report demonstrates the
tangible and positive impact of four years of strategic investment in
all operations since the acquisition of the Club by Sheikh Mansour bin
Zayed in September 2008.

Bright: City are able to put plenty of cash into their future, and announced plans for a new academy site

Bright: City are able to put plenty of cash into their future, and announced plans for a new academy site

Bright: City are able to put plenty of cash into their future, and announced plans for a new academy site

MANCHESTE CITY REPORT

Read City's annual report in full here

'Chairman Khaldoon Al Mubarak recognises the historic on field
achievements of 2011-12 and the impact on the club at home and
overseas. He also emphasises, following the securing of planning
permission, the importance of the City Football Academy (CFA) project to
the future of the Club and the community in which it resides, calling
it 'the most significant current initiative to secure the long-term
sustainability of the Club’s football operations'.

Chief executive officer Ferran Soriano, who arrived at the club
earlier this year after his time with Barcelona, said: 'What I have
found is a club on the verge of a historic transformation, reinforced by
a genuine commitment to doing things well. It is a club with a rich
history and the potential for an even brighter future.'

Dave King to invest in Rangers

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EXCLUSIVE: Return of the King! He's got cash for a place on Rangers board

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UPDATED:

22:30 GMT, 16 November 2012

Dave King has revealed plans to plough fresh cash into Rangers — just months after seeing a previous investment of 20million go down the drain.

The former Ibrox director won a six-year court battle with the South African Revenue Service to have a freeze on his British assets revoked last week, leaving the Johannesburg-based businessman free to invest in the UK.

And, despite the continuing fight to clear his name on 322 charges of tax evasion in South Africa, Glasgow-born King has set his sights on a return to the Ibrox boardroom, insisting there are now no issues over his ‘fit and proper’ person status.

Return: Dave King plans to invest in Rangers

Return: Dave King plans to invest in Rangers

His lingering concerns over chief executive Charles Green’s profit-based business plan mean the 57-year-old will sit out the current 20m share issue. Impressed by Walter Smith’s recruitment to the Ibrox board, however, King says he is almost ready to talk, telling Sportsmail: ‘I am certainly inclined to invest in Rangers again. I lost 20m through Rangers but I can absolutely see a scenario where I would like to return to the Rangers boardroom one day soon.

‘Any substantial investment I made in the club would incorporate that caveat. If I was going to come in with substantial sums of money then I would expect to be on the board as well.

‘I still have some concerns about the business model adopted by Charles Green. But investing in Rangers is a situation I would like to look at again towards the end of this season.

‘Clearly Charles Green might have something to say about that. And the time is not now for me to come back because Charles has a business plan which I don’t quite agree with.

‘But I would regard myself as a potential investor going forward.

‘As Rangers progress through the leagues they will need another type of investor.

Follow the leader: Ally McCoist takes charge of Rangers training

Follow the leader: Ally McCoist takes charge of Rangers training

‘The reality is that once Rangers are back in the Premier League, fans will expect them to automatically start challenging for the title and start competing in Europe again — which is what we all want.

‘But that will require extra capital in a couple of years’ time. And it will be then that people like myself will come into the equation. Because I would be willing to put money into the club on a non-profit basis.’

King put 20m into Rangers during David Murray’s tenure and lost every penny when the oldco club was plunged towards financial oblivion by former owner Craig Whyte.

Concerns over Green’s profit motive prompted his brief dalliance with the Blue Knights takeover group in the summer, as former manager Smith was fronting another splinter group funded by businessman Jim McColl.

Impressed by Green’s ability to bring Smith on side, however, King’s stance towards the current regime has softened.

‘All credit to Charles for being able to do that,’ he said. ‘It’s a great thing because it says that Charles must be getting the club going in the right direction.’

Limbering up: Rangers train ahead of their clash with East Stirling

Limbering up: Rangers train ahead of their clash with East Stirling

King was also deterred from investing in Green’s Sevco consortium by a restraining order imposed by the Crown Office on behalf of SARS.

Before having the order lifted, however, King also had 37 counts of fraud and racketeering dropped in his adopted land and insists there are now no impediments to an Ibrox return.

‘I wrote to the SFA at the end of last year when I was looking to be involved in one of the consortiums, telling them of the allegations against me and asking if this might cloud their judgment in terms of my ability to be a fit and proper person at Rangers

‘Their response was that because it was only allegations they would take representations from my legal team and if they could convince them I had a strong case then there would be no issue.

‘Now that has gone away. My assets have been freed and it’s just not an issue any more.’

Wakefield Wildcats move to allay winding-up fears after being issued with winding-up petition

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Wakefield Wildcats move to allay fears after being issued with winding-up petition

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UPDATED:

12:03 GMT, 27 October 2012

Wakefield Wildcats have sought to allay fears of further financial turmoil at the Super League club after they were issued with a winding-up petition.

The petition was brought by HM Revenue and Customs against Spirit of 1873, the company that now owns the club, and is due to be heard at the Royal Courts of Justice in London on November 12.

Allaying fears: Wildcats' Richard Mathers in action

Allaying fears: Wildcats' Richard Mathers in action

The Wildcats, who were brought out of administration in February 2011 by local businessman Andrew Glover, issued a statement insisting the action was the result of an oversight and that the matter has been dealt with.

The statement said: 'The Wildcats would like to reassure all those connected with the club that the outstanding sum of money that the petition is in relation to has already been dealt with.

'Due to the club's recent financial history, it is subject to monthly visits from HMRC and, furthermore, no leeway is granted in regards to any payments owed as it may be to other such companies.

'An oversight on the part of the club in relation to the amount of one such payment led to the issuing of the winding-up petition.

'However, once the club was made aware of this, it was immediately rectified.

'Unfortunately, once a winding up petition is issued there is no way of preventing it from going to press and, as such, it came into the public domain today.

'Again, the club would like to reassure everyone associated with the Wildcats that the club is continuing to work tirelessly to ensure that the progress both on and off the pitch since the takeover by Spirit of 1873 Ltd is maintained.'

Wakefield are the second Super League club to be issued with a winding-up petition in the last 10 days.

Action was brought against Salford by a management consultant company over an unpaid bill and is due to be heard in Manchester next Monday, although the club sought to play down the significance of the move.

Colin Hendry arrested

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Ex-Scotland captain Hendry spends night in cells after 'domestic incident'

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UPDATED:

11:11 GMT, 22 October 2012

Arrest: Colin Hendry was held on Saturday night

Arrest: Colin Hendry was held on Saturday night

Former Scotland captain Colin Hendry spent a night in a police cell after he was arrested following an incident at his home.

Hendry was held after officers were called to a 'domestic situation' at his rented house in Lytham, Lancashire on Saturday night.

Blackburn coach Hendry, 46, was released without charge on Sunday.

A police spokesman said: 'Colin Hendry was arrested and held but no charges have been laid against him.'

Hendry, who played for Blackburn and
Rangers, winning league titles with both clubs and representing Scotland
51 times, is in a relationship with 35-year-old nail technician Sarah
Kinder.

The couple met in 2010 after Hendry's wife Denise died the previous year following complications with cosmetic surgery.

The dad of four was declared bankrupt in 2010 with over 1million in debts to the Inland Revenue and betting companies.

"Rangers in peril" claim rubbished by Malcolm Murray as scaremongering

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'Rangers in peril' claim rubbished by chairman Murray as scaremongering

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UPDATED:

22:11 GMT, 9 October 2012

Rangers chairman Malcolm Murray angrily hit out at what he insisted were 'scandalous' claims that the Ibrox club could face administration for the second time this year.

The dire warning was made in an article for respected business publication Forbes Magazine by John Pritchett, CEO of Chicago-based investment firm Club 9 Sports, which acted on behalf of US businessman Bill Miller in his short-lived bid to take over troubled Rangers in May.

Revealing that Miller had come ‘within an eyelash’ of buying the club, Pritchett claimed his friend had walked away because the ‘numbers did not add up’ and warned that was still the case at Ibrox — alleging Rangers would face fresh financial peril unless current Ibrox chief executive Charles Green oversaw a drastic programme of downsizing and cuts at the club.

Warning: An article in Forbes magazine predicted financial peril for Rangers

Warning: An article in Forbes magazine predicted financial peril for Rangers

Pritchett said: ‘Upon full inspection, Rangers was not a “turnaround” opportunity. It was (and is) an opportunity for someone with great wealth and a love of football and/or Scotland to give away tens and tens of millions of pounds … until bold action is taken, the future for Rangers remains in serious jeopardy.’

Tennessee truck tycoon Miller withdrew his offer for the Ibrox club a week after being named preferred bidder amid a hostile reaction to his takeover attempt by Rangers fans, with one banner at Ibrox reading: ‘Truck Off Miller — Yanks No Thanks’ being unfurled at Ibrox.

But Pritchett said the deal breaker was always that the numbers at Ibrox just did not stack up.

‘Revenues were in a freefall,’ he recalled. ‘The most important revenue stream to Rangers, season tickets, was projected to be down by 20 per cent. The club expected to lose nearly 10million in 2012/13.

‘Cash-flow from sponsorships was minimal and the administrators had already pulled out the cash from player wages, kit sponsorship and future payments due the club from the sale of several players.

Angry: Rangers chairman Malcolm Murray

Angry: Rangers chairman Malcolm Murray

‘Worse, because the administrators had to make a deal to cut player wages to keep the club afloat, the new owner of Rangers would lose a substantial portion of asset value.’

Pritchett estimated that Green’s consortium, which bought the club and assets for 5.5m and transferred them to a newco, saved 3m in wage cuts but lost up to 15m as highly-rated stars like Steven Naismith and Allan McGregor were able to leave without a transfer fee.

The American business expert also warned that Rangers must ‘cut the fat from every department and rebuild an organisation that values every pound and demands a return on any and all expenses’.

Rangers have sold a remarkable 36,000 season tickets since Green took charge, however, while he has also taken back control of club merchandising from JJB Sport and there are plans to float on the stock exchange later this month.

Furious chairman Murray last night accused Pritchett of ignorance of current goings on at Ibrox and vowed Rangers would never go to the wall again under current ownership.

He said: ‘The last time Mr Pritchett had sight of any financial information about Rangers was many months ago and, as a result, his article in Forbes Magazine is ill-informed, misleading and scaremongering.

‘For the avoidance of doubt, there is no risk of the club going into administration and any suggestion otherwise is scandalous and appears written to attract headlines. Projections Mr Pritchett had sight of have not been relevant since May and, from the day I became chairman, I have been committed to ensuring this club lives within its means and never again comes to the brink of collapse.

‘We have already secured significant investment in the club from the individuals and organisations who are part of our consortium and the successful Initial Public Offering later this month will generate many millions in additional revenue.

‘It does not take a genius to work out that costs needed to be cut at the club and this has happened, with the first-team wage bill being reduced significantly.

‘However, we also have a plan to maximise commercial revenues and develop many areas of the club that, historically, were under utilised.

‘It is my understanding that Mr Miller’s plans were based purely on cost-cutting and little additional investment in the club.

‘What is also clear from his article is that Mr Pritchett completely underestimated the loyalty and commitment of the Rangers fans. In addition to the 36,000 season-ticket holders so far this season, the attendances at our home matches have surpassed many of the top clubs in England and the rest of Europe.

‘We have a clear plan to rebuild this great club and believe that, with solid business practices and the ongoing tremendous support from the fans, this will be achieved.’

Sheffield Wednesday sought compensation for lost ticket revenue a month after Hillsborough: Nick Harris

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Outrageous: How Sheffield Wednesday sought compensation for lost ticket revenue… just one month after Hillsborough

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UPDATED:

21:16 GMT, 22 September 2012

Enlarge

Plea for help: Bert McGee's astonishing letter to the FA

A month after the Hillsborough
Disaster, which cost the lives of 96 Liverpool fans, the chairman of
Sheffield Wednesday approached the Football Association over a claim for
compensation to help cover the club’s losses resulting from the tragedy
— including reduced income from ticket sales because they had had to
close the Leppings Lane end of the ground.

The revelation that Wednesday chairman
Bert McGee wrote asking the FA for ‘help and advice’ over the claim
will add to mounting criticism of the club and English football’s
governing body for their roles in the disaster 23 years ago.

Wednesday were awarded the chance to
stage the FA Cup semi-final between Liverpool and Nottingham Forest on
April 15, 1989 despite Hillsborough not having a valid safety
certificate required under the Safety of Sports Grounds Act 1975.

McGee’s letter, dated May 15, 1989,
was sent to Graham Kelly, the then chief executive of the FA, and has
been made public for the first time among the huge archive of documents
published by the Hillsborough Independent Panel, whose report, published
11 days ago, revealed the extent of the police cover-up over the causes
of the disaster.

Liverpool, who have consistently
supported the campaign for the bereaved families to be told the truth
about the disaster, face a massive test when they face Manchester
United at Anfield. Fans of the arch-rivals have for years traded
offensive chants about Hillsborough and the Munich air crash, and both
clubs have appealed for restraint.

In his letter to the FA, McGee claimed
that Wednesday faced extra costs because they had been forced to repair
damage to a wall, barriers and seats because of the disaster, and had
incurred financial losses through the temporary closure of the Leppings
Lane enclosure, where the fatal crush happened.

Horror: Liverpool fans are pulled to safety in the Leppings Lane end

Horror: Liverpool fans are pulled to safety in the Leppings Lane end

McGee also complained that changes to
seating in Hillsborough’s North Stand resulting from the Leppings Lane
end closure had created a ‘sterile’ area between sets of fans, and he
claimed that Wednesday had incurred higher costs because of extra
policing since the disaster.

McGee, who died in 1995, aged 77,
wrote: ‘A semi-final usually results in the host club making some money
for the promotion of the stadium and/or the club. However, in this case
it is unfortunate that the disaster has cost the club dearly.

‘For instance, the Inquiry team told
us that one of our high walls … was damaged and was unsafe and needed
immediate buttress repairs; this work has already been done. Damage to
the barriers and seating/fixtures also occurred.

‘/09/22/article-0-152611D8000005DC-618_634x416.jpg” width=”634″ height=”416″ alt=”Aftermath: Wednesday chairman Bert McGee accompanied Prime Minister Margaret Thatcher as she visited Hillsborough on the day after the disaster” class=”blkBorder” />

Aftermath: Wednesday chairman Bert McGee accompanied Prime Minister Margaret Thatcher as she visited Hillsborough on the day after the disaster

And
McGee ended his letter: ‘I am not the kind of chairman who will latch on
to every opportunity to secure a monetary advantage from our industry
no matter how, but I do wonder whether or not in these tragic
circumstances the FA can help Sheffield Wednesday.’

Other
papers in the Hillsborough Independent Panel archive reveal that
Kelly’s response to McGee’s letter was to seek legal advice from lawyers
acting for the FA.

One
document, a lawyer’s note recorded on May 19 1989, states that Kelly
‘wanted to know whether he should consider the letter or whether we [the
lawyers] had any problems with the FA making any donations’.

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The
lawyer added: ‘I said I could not see any reason why, if it was
considered appropriate, some money ought to be paid but we would have to
look at the method of how it was done. I did not think the [Taylor]
Inquiry would be prejudiced by any payment to compensate for the loss of
revenue Wednesday suffered as a result of the semi-final being
cancelled. It was a matter for Graham [Kelly] whether he wanted to make
any payment.’

A subsequent note by the lawyer on the same day mentions Wednesday being asked to produce ‘an itemised bill of costs they had incurred’ and to state ‘whether they had any consequential loss insurance’.

Last week Kelly, who stood down as FA chief executive in 1998, referred questions regarding the McGee letter to the FA. They said they had disclosed all relevant documents to the Hillsborough Independent Panel and that the paperwork shows no record of a compensation payment being made to Wednesday.

The club’s role in the disaster has come under renewed scrutiny. Charles Falconer, the barrister who represents the Hillsborough Family Support Group, has asked the Director of Public Prosecutions to investigate whether the club (whose current owners took over in November 2010), South Yorkshire Police, the local council and the FA should be charged with corporate manslaughter.

There had been dangerous crushes at the Leppings Lane end before 1989 and the flaws at the stadium were well known. Yet when police told McGee after an incident in 1981 that fans had been moved to avoid ‘a real chance of fatalities’, another document disclosed by the Independent Panel reveals that he had responded: ‘B******s — no one would have been killed.’ Wednesday’s reputation in the years following the disaster suffered as a result of the club’s apparent unwillingness to place a memorial to the 96 victims at Hillsborough, and it emerged from the Independent Panel’s inquiry that Sir Dave Richards, the current chairman of the Premier League who was chairman of Wednesday from March 1990 to February 2000, had turned down a monument on legal advice.

Only upon publication of the Independent Panel report did the Government, the FA, Sheffield Wednesday and the South Yorkshire Police offer their first full, public apologies for their various roles in the disaster and the subsequent cover-up of who was truly to blame.

Letter: McGee

Plea for help: Extracts from Bert McGee's astonishing letter to the FA

Plea for help: Extracts from Bert McGee's astonishing letter to the FA

This was despite Lord Taylor making it clear as early as August 1989 that errant policing, in a deficient venue, was the main cause.

The precise amount of Wednesday’s losses as a result of the disaster remains unconfirmed. As hosts, they were entitled to 10 per cent of the gross receipts from the day, which are believed to have been around 350,000, meaning Wednesday would have received about 35,000.

The club’s financial accounts for the year ending May 31, 1989, claim that ‘loss of income arising out of the Hillsborough tragedy’ was a factor in Wednesday making a loss of 53,862 that year. Yet no details are given of how the disaster cost Wednesday money.

The same accounts show Wednesday’s wage bill (mainly for players) rose by 321,000, year-on-year. In other words, without those wage rises, Wednesday would have made a profit of some 267,000 that year, not a loss.

The same financial accounts show Wednesday did not expect to lose any further money as a result of financial claims against them from victims of the tragedy or their families. A note in those accounts said: ‘It is not possible to assess the financial effect of the claims at this time. However, the directors consider, based on professional advice, that the company is unlikely to have any material contingent liabilities in this respect.’

Wednesday’s insurers, Sun Alliance, have been criticised for not releasing all their documents regarding the disaster to the Independent Panel.

But last week a spokeswoman for the company said they had ‘willingly co-operated with the Panel, disclosing all relevant materials. It is not our practice to release legally privileged materials.’

Wembley will not have its name changed

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No name change for Wembley but FA considering revenue options

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UPDATED:

18:40 GMT, 10 September 2012

The Football Association will not be selling naming rights to Wembley.

Talks are taking place with a number of potential commercial partners as the FA look to maximise revenue from the world famous arena, which plays host to this season's Champions League final.

It has been suggested they could be linked to the naming of the stadium in some way.

Name issue: Wembley will not be changing

Name issue: Wembley will not be changing

However, sources insist there is no chance of a naming rights deal, such as the one Arsenal have with airline Emirates or Stoke have with the Britannia Co-operative Bank.

Even if they wanted to, Wembley officials would come up against a problem Newcastle owner Mike Ashley has encountered at Newcastle.

Although now officially titled the Sports Direct Arena, most fans still refer to the ground as St James' Park.

Wembley was rebuilt at an eye-bulging cost of 798million and re-opened in 2007.

Since then it has hosted a number of events, including NFL, rugby union, rugby league and a series of pop concerts, as officials try to generate increased revenue.

Most recently it hosted both the men's and women's Olympic football finals.

Cardiff City to play in red this season

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It's Cardiff… but not as we know it! After 104 years, the 'Bluebirds' are playing in red

By
Michael Walker

PUBLISHED:

21:30 GMT, 16 August 2012

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UPDATED:

21:30 GMT, 16 August 2012

Fantasy football 2012

Red alert! Bluebirds for more than a century, Cardiff City begin a red era on Friday evening, amid wincing from traditionalists, hard swallowing from supporters and anguished talk of Rangers, Portsmouth and the uncomfortable commercial compromises of these fragile financial times.

As Cardiff’s manager Malky Mackay put it: ‘I attended a meeting of a little group of those who wanted to return their season books. My message was, “Come and support your team; Cardiff City still have a team; and it’s because of this”.

‘The comparison with Portsmouth and Rangers is not scaremongering. A lot of clubs in the Premier League and Championship are being funded by “an individual”. If that person walked away there aren’t a host lining up to replace them. And banks aren’t lending. In the past banks bailed out clubs, to an extent.

Red is all the rage: Cardiff have undergone a makeover this summer

Red is all the rage: Cardiff have undergone a makeover this summer

Football League blog

‘That’s why Rangers went, that’s why Portsmouth are in the situation they’re in. We would be no different had this gentleman not come in.’

This gentleman is Tan Sri Vincent Tan, the Malaysian businessman who first bought into Cardiff in 2009 to fend off HM Revenue and Customs and who this summer decided that a club who have worn blue since 1908 and have a bluebird as a club badge would from this season be sporting red. There would still be a bluebird on the crest, but beneath a large red dragon.

Reasons offered, such as red being a lucky colour in Malaysia, have been unconvincing but the economic reality is that the 39 per cent Tan owns of Cardiff City, allied to the extra investment he has delivered in the past 24 months, gives Tan power. He runs the club, has Premier League ambitions, has funded the return of Craig Bellamy and, locally, Tan’s presence at Friday’s Championship opener against promoted Huddersfield Town does not seem to inspire as much dread as his potential boardroom absence.

Not for the first time, fans feel cornered, conflicted. A planned demonstration before kick-off by ‘Keep Cardiff Blue’ has been cancelled on police advice; the club shop continues to sell its Bluebird range and blue away kit as well as the new red strip. But the thought of what Cardiff might be were Tan not around is equally prominent.

Big spenders: Craig Bellamy is a high profile signing for the Championship club

Big spenders: Craig Bellamy is a high profile signing for the Championship club

WHEN AND WHERE

Championship: Cardiff City v Huddersfield Town.
Kick-off: 7.45pm, Cardiff City Stadium.
TV: LIVE on Sky Sports 1, 7.30pm.

Vince Alm, a fans’ spokesman, who has been watching the team since the 1960s, said: ‘I don’t know anyone who’s happy with the colour change and the badge change.

‘But the majority have reluctantly accepted the re-brand. This sort of investment doesn’t come along often for a club of our size. It’s huge — writing off this scale of historical debt. That doesn’t mean fans will be happy wearing red — they will continue to wear blue — but Cardiff supporters have also looked at the plight of other clubs, especially Portsmouth.

‘Two years ago the debt was 30million and the club are said to have been funded at about 1m or more a month since then. If the Malaysians were not around I think there would have been a fire sale and we’d be in administration.

‘I’ll keep wearing blue, but I’m glad of their investment. I’m glad Cardiff City still exist.’

It turns out that Portsmouth were not the only team in the 2008 FA Cup final on a precipice. The Football League have granted Pompey leave to begin life in League One on zero points, but the club’s position remains desperate.

Bad start: Cardiff were knocked out of the Capital One Cup by Northampton

Bad start: Cardiff were knocked out of the Capital One Cup by Northampton

Cardiff’s woes are less publicised but the fact that former owner Sam Hammam was mentioned in the morning’s Western Mail was a backwards jolt. Tan is negotiating with Hammam over debts of around 14m that pre-date Peter Ridsdale as Cardiff chairman, and Robbie Fowler and Jimmy Floyd Hasselbaink in blue kits.

That money fuelled Cardiff. Five years ago the average attendance at Ninian Park was 14,000. Then came the FA Cup final run, and in the last three seasons the play-offs have been reached. Each time Cardiff lost, in May to West Ham.

By last season the average gate was up to 22,000 at the new stadium. Mackay replaced Dave Jones and led the team to the League Cup final in February, when they lost on penalties to Liverpool.

On Tuesday at Northampton, Cardiff went out in the first round but Mackay was far from downbeat. He had eight players on international duty and rested five others. The impressive 40-year-old knew he had Tan coming on Friday and the focus is on avoiding the 57 games of last season and gaining promotion over 46. The squad looks strong and will be added to.
And, like the lips being bitten, red it is.

Mackay added that ‘the colour of the strip and the badge, for me personally, doesn’t equate with us having to be promoted,’ but in this country at least, red is also the colour of pressure.

Ally McCoist excited by Newcastle owner Mike Ashley"s bid to buy stake in Rangers

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McCoist excited by Newcastle owner Ashley's bid to buy stake in Rangers

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UPDATED:

00:26 GMT, 9 August 2012

Fantasy football 2012

Rangers manager Ally McCoist has welcomed the prospect of Newcastle United owner Mike Ashley buying
a 10-per-cent stake in the reincarnated Ibrox club.

The billionaire is in talks with
Rangers chief executive Charles Green about a joint venture to sell
replica strips through Ashley's Sports Direct empire.

Talks: Tycoon Mike Ashley

Talks: Tycoon Mike Ashley

That would allow Rangers to reclaim crucial revenue streams lost since 2006, when former owner Sir David Murray allowed Ashley's rival, JJB Sports, to sell club merchandise exclusively in a 10-year deal worth 48million.

While Ashley's stake has not yet been sealed, with the club contesting the JJB deal lapsed at the time of liquidation, McCoist was heartened at the prospect of such a cash-rich businessman showing interest in Rangers as the club continues the rebuilding process.

'If Mike Ashley is interested in investing in Rangers, then the fact of the matter is he looks to be a very successful businessman,' said the Ibrox boss.

'It would be great to have people of that pedigree contributing to the club moving forward.

'I don't know enough about any proposed deal but I know Charles Green has been in meetings for two to three weeks now and I'm led to believe they have been successful meetings.

'So if we were to get a guy like (Ashley) with a proven track record on board then good.

Excited: Manager Ally McCoist

Excited: Manager Ally McCoist

'Our game against East Fife had to be delayed by 20 minutes to let the fans in, so you can see a lot of people have faith in the Rangers brand.'

McCoist was speaking to promote his club's season-ticket sales, with over 20,000 having already been sold – the Ibrox boss personally buying four for his young sons.

McCoist's urging of fans to buy into Green's vision for the club, however, represents a dramatic shift in his stance from just a few weeks ago, when the legendary Rangers No9 was ready to quit due to an apparent distrust of his chief executive.

'There have been a lot of questions asked about Charles and that will continue to happen but, if Mother Theresa had bought Rangers, I'd still have been sceptical,' McCoist said.

'Charles and I are still at the early stages of our relationship but his work ethic can't be faulted and I've been impressed by his willingness to fight the corner of the club.

'I've seen enough to say: “Enough is enough”. Now let's get everyone singing from the same hymn sheet.'

McCoist has already signed Fran Sandaza, Kevin Kyle and Brazilian Emilson Cribari this week but there was a blow last night as it emerged that ex- Hearts striker Craig Beattie is unlikely to join them.

'He has other options, so we'll look elsewhere,' said McCoist.

Park Ji-sung joins QPR from Manchester United on two-year deal

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Joy of six for QPR as latest recruit Park completes shock arrival from Man United

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UPDATED:

14:50 GMT, 9 July 2012

Park Ji-sung has joined QPR from Manchester United on a two-year deal.

The South Korea international, 31, has joined the London club for an undisclosed fee.

Park is manager Mark Hughes' sixth summer capture, joining Ryan Nelsen, Andy Johnson, Rob Green, Samba Diakite and former Old Trafford team-mate Fabio at Loftus Road.

Coup-PR: South Korea international Park Ji-sung has moved to Loftus Road from Manchester United

Coup-PR: South Korea international Park Ji-sung has moved to Loftus Road from Manchester United

Welcome to Loftus Road: Park shakes hands with QPR chairman Tony Fernandes at his unveiling

Welcome to Loftus Road: Park shakes hands with QPR chairman Tony Fernandes at his unveiling

The ambitious club also claim his
signing will 'put the QPR brand on a global scale', heading up their
attempts to break into the Asian market.

Rangers,
promoted in 2011, only escaped relegation from the Barclays Premier
League on the final day of last season and are determined to avoid a
similar struggle next term.

Park
leaves United after seven years, during which time he made 203
appearances and scored 27 goals, winning four Premier League titles and
the Champions League in 2008.

Fernandes is keen to exploit revenue streams in that part of the world for both the club and his Air Asia airline which operates flights to Seoul.

Park life: QPR have signed the midfielder from Manchester United on a two-year deal

Park life: QPR have signed the midfielder from Manchester United on a two-year deal

Pedigree: Midfielder Park has won four Premier League title at Old Trafford

Pedigree: Midfielder Park won four Premier League titles and the Champions League at Old Trafford

Ambitious: QPR chairman Tony Fernandes

Ambitious: QPR chairman Tony Fernandes

Park, who won four Premier League
titles and a Champions League during his time at United, is understood
to have been swayed to join QPR by their ambitious plans.

The 31-year-old became one of Sir Alex Ferguson's most reliable players after joining the club in the summer of 2005.

Park
began his professional career with Japanese side Kyoto Purple Sanga
aged 18 and impressed during Guus Hiddink-led Korea's successful run to
the World Cup semi-finals in 2002.

Such
performances saw him follow the Dutchman to PSV Eindhoven, where he
played for three years before joining United for 4million.

However, after seven successful years in the north west, Park has opted to head for the capital with QPR.

Park
would certainly help the Hoops achieve that aim after his success at
United, not only on the field but commercially as well.

Fernandes completed his takeover at Loftus Road less than a year ago and has been quick to try and bring both the playing squad and facilities up to Premier League standard.

Hughes said: 'On a football level Ji is someone I have admired from afar for years.

'He wore the red shirt of Manchester United in a distinguished way and he will bring a great deal to the team, I can't wait to start working with him.

'Ji is a motivated guy, he feels there is success ahead of him, he ticks every box. It's a very exciting time for QPR.

'I said at the end of the season we didn't want to be in the same position next season and I stand by that, we are in a better place now.'

Park, who arrived in England from PSV Eindhoven in 2005, added: 'I know QPR want to improve and have ambitions to reach the next level and I will try my best to help.

'There were other offers but nothing compared to QPR.'