Few will be surprised that the Takeover Appeal Board (TAB) ruled Dave King acted in concert with George Taylor Douglas Park and George Letham when buying a controlling interest in Newco Rangers two years ago, another “favourable settlement”, you could say.
In their statement, TAB wrote, “Over the last two years Mr King has had ample opportunity to disclose documents and to provide other evidence to rebut any deeming, presumption or inference from the evidence that he was acting in concert with Messrs Letham, Taylor and Park. He has not done so.”
So far, so clear-cut, but while this is an unwelcome distraction (or more) to Dave, King, I genuinely hope he has the wherewithal to fund any necessary share purchase. It is difficult to overestimate the extent to which King’s position inhibits Newco.
The club will go nowhere while it remains in his clutches. It is far from clear who would pick up the years of potential liabilities should he exit (forget Sugar Daddy fantasies), but better the devil we know – when we know so much about him.
We have the perfect controller of Newco. He leads through PR dictate, appeals to the lowest common denominator, sat as a director through Oldco’s ignominious demise, and appears to have enough funding capacity to get them as high as third in the league.
I will rue the day Dave King decides he has had enough of Ibrox.
Many thanks to all who contributed to the Lisbon canvass raffle for Alzheimer Scotland. The competition is now closed and we raised an incredible £3264. The winner has been in touch, so if you don’t know already, unfortunately, it’s not you.
This has been another small excerpt in the Great Celtic Story. Well done.
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Choose podium
mmmm
As far as the share offer from GASL a number of people were given shares at 1P (fat Sally for example) so it would be a big profit for them to sell at 20p.
A number of investors will probably see this as a chance to get their money back before it all goes belly up and the new entity goes into administration and potential liquidation.
I would reckon that anyone smart enough to now what they were doing would want to get out when they can. As far Ashley and co, they may very well see this as a chance (along with the court cases) to financially cripple King so selling may be a vehicle to achieve their endgame. Admin and liquidation could see him buy a second hand basket of assets for the money he gets back from GASL. Wouldn’t that be nice – King gives Fat Mike the money to buy the 3rd entity of Rangers!
Whatever happens, it’s all going to be very, very messy. The upshot will be that with the £3M or so for the share issues and the £8M-£10M bond required for the share issue King’s cashflow (if he does have any money) will be choked off; as a consequence, the monies going to The Rangers to keep the lights on will be severely restricted. At best, this will mean there is no transfer budget; at worst, the lights go oot at the Big Hoose!
KTF
Long live the Pariah.
On the subject of buses. Left the superstore after the game on Sunday with the lad and was walking towards the Jock Stein Stand. Sevco bus was parked with three polis at the front, one of them a motorbike cop. I says, is that the Rangers team bus, big polis nods his head and says yes, quick as a flash I says, you want to check it, its probably not taxed, they don’t like paying tax……………big polis laughed, little bike one had a face like thunder….
That’s a brilliant effort re the Lisbon canvas raffle!
Here is my latest. About the bullsh*t-talking new Sevco manager…
https://theclumpany.wordpress.com/2017/03/13/turd-polishing-pedro/
VFR800 is now a Monster 821
Yes, indeed. But I think King will just take the cold-shouldering – as I see it, he has no real interests in UK business other than Sevco so does not need the services of FCA-approved companies. The cold-shoulder would apply to him personally, not Sevco.
Now, if he were to incur the wrath of the Takeover Panel and they decided to extend the cold-shoulder to his fellow concert party members? Well, they should be worried.
Add in the point that Ernie Lynch raised (shareholders going after Letham, Taylor and Park for the mandatory offer) and it seems that the other members of the concert party have as much, if not more, to lose than King himself.
Spot on Paul. Dave King and his basketcase of assets is comedy gold. It’ll be such a shame when it ends.
VFR
Dave King doesnt worry about any of that lawful regulation nonsense.
He really thinks he can do what he likes in Scotland, so far, he certainly has.
He should be in Jail, but id be willing to bet, that he remains unscathed, and unregulated.
He knows the secrets….shhhh:)
HH
VFR800,
Pedro doesn’t need a transfer budget, he says he has the best squad of players in the country!
Paul67
The King is dead
Long live the King
Caixinha did one of three things yesterday;
1) He said what the PR arm shoved up his backside told him to …
2) He chose those words deliberately to lower expectations of big summer spending and a club overhaul
3) He blundered in like a clown in a minefield and all we can do is wait for the boom.
It doesn’t matter which is which. The words he said are now on the record. (Or in The Record.)
He has the best squad in Scotland.
Ergo, you have no alibi for failure and no recourse to demand big money to change things.
Death by stupidity or a blundering kamikaze mission, taking one for the board?
Who cares? Any mug who follows that mob and still expects moonbeams should be locked up for his own sake.
http://thecelticblog.com/2017/03/blogs/caixinhas-remarks-were-meant-to-rile-us-they-are-the-noose-around-his-own-neck/
Nice one Cambhoy, I’ll tell that one at next Bhoys get together.
James Forrest
Ra berrrz will be sticking pins in Pedro voodoo dolls as we speak:)
HH
Thought I’d post these positive items about the club and the board, to good to miss. :))
TONYDONNELLY67 on 14TH MARCH 2017 12:02 PM
Outstanding job by the board, and PL take a bow lads, well done.
According to the Reuters chief market correspondent, Celtic shares have hit their highest in over 15 years.
Celtic shares highest in over 15 years. Up 28% so far this year, strongly outperforming the wider market. @Heavidor pic.twitter.com/O1woKPSVjg
— Jamie McGeever (@ReutersJamie) March 14, 2017
With the club showing growth on and off the park shares have steadily risen over the course of the season.
Right now Celtic’s market value is £125million. To put that into some sort of perspective a team third place in the league in the same league is only valued at £20million.
For those number anoraks out there wanting to know what it all means, have a look at THIS article from yesterday via Dasher Business review
TONYDONNELLY67 on 14TH MARCH 2017 12:05 PM
https://dasherbusinessreview.com/celtic-plc-ccp-l-shows-positive-weekly-momentum/
Pedro Caxinha v the Still Game Neds…
http://tinypic.com/player.php?v=2yoq3bq&s=9#.WMficX9BGUm
Surprised (not) that no one in the media picked up on Agent Caixinho’s dismissal of Aberdeen yesterday. Apparently they are only 2 points behind The Dons because they have still to play (and obviously beat) them twice. He made second sound a formality.
Strangely rent a quote (when it comes to Celtic) McInnes has yet to comment
I see Aidan McGeady is being tipped to leave Everton. I for one would try and get him in. Aidan has just turned 30 and as we know is a big Celtic fan and if rumours are true would be happy to come back.
No doubt he is a good player but where would he fit in with a Brendan Rodgers Team. he did play wide right and no doubt could play there, but we currently have Roberts, Forrest and GMS for that position. However, as we can see at present we don’t have enough cover for the Player “in the hole”, That is the attacking midfielder in the middle of the Front 3 in 4 2 3 1. Tom Rogic is certainly an option but not convinced Armstrong, Henderson or McGregor can play there. Eboue seems to be a deeper midfielder. I reckon Aidan would fit in well there. Martin O’Neill often referred to this as Aidans favoured position but due to his youth he played him on the wing.
Aidans skill set of taking players, on being able to use both feet and an eye for a weighted pass would help both Dembele and Griffins. He would gel well with Sinclair and Forrest or Roberts. He would work well with Brown and Armstrong and could link well with them.
Celtic sold Aidan for £9m and he would be able to come back a more experienced mature players with a good few years left in his career. I reckon, as Everton had bought him for £2m then an offer in this region might prove acceptable.
I am sure Aidan would jump at the chance to come back to Scotland and home to Celtic. If we can get him at the right price then it would be a good bit of business for us.
You can never have enough good players but as a Celtic fan available at a reasonable price we are unlikely to do a better deal
BIGBHOY
Cant see it.
imo Aiden would struggle to get in the present team
Id prefer Scott Sinclair and Jamesy all day long
I think Aiden had his chance at Celtic, wanted to leave.
So, i dont see the need for it.
HH
bigbhoy on 14th March 2017 12:37 pm
McGeady is having a very good season at Preston North End. That is his level now. He could come back to Celtic and do a job domestically, but we already have a squad full of those players. If we are to pay big bucks on wages (and that’s what we’d need to pay him) it needs to be for players who can make a difference in Europe.
Aiden? Naaaaa canny see it.
The Green Man
Don’t know if he instigated the move to Russia. Celtic needed money and I think they saw a large fee which could be used to sign several players.
One way or the other, he wants to come back at this stage. His family are here and he has business interests in Glasgow.
I like Sinclair and Forrest when he is on form. I wouldn’t replace them, I think Aiden would work well with them. We may not be able to keep Roberts so I see him being able to cover for any of the 3 attacking Midfielders positions.
Aiden is history mate, we’re looking at the Bhoy Henry, lighting quick, strong with a eye for goal, that would be more of Brendands vision I would think..
Once again Paul67 likes to post relentlessly about newco but seems less desparate to discuss the Celtic board’s efforts to help them get off the hook.
Squirrel………
So, if King and the three bears are NOT in a concert party that would mean that the £18m investment he recently spoke about WAS all his own money and nothing to do with them?
GlassTwoThirdsFull on 14th March 2017 1:09 pm
So, if King and the three bears are NOT in a concert party that would mean that the £18m investment he recently spoke about WAS all his own money and nothing to do with them?
—————————————————————-
No, they are in a concert party, King has just been judged to be the “principal member”….as opposed to the principle member…
BIGBHOY
To be honest, i was never a big fan of Aiden.
Flattered to deceive too much, and thought he was a better player than he really was.
He wasnt missed.
Dont think he could hack the pace now.
Be more than a few kids in front of him, never mind Scotty, Jamesy, and GMS.
Anyway…we wouldnt pay him crazy wages either.
Brendan will unearth somebody younger and better.
HH
Concert Party.
Windsor Davies, Melvin Hayes, Michael Bates:)
HH
NEGANON2 on 14TH MARCH 2017 1:09 PM
Once again Paul67 likes to post relentlessly about newco but seems less desparate to discuss the Celtic board’s efforts to help them get off the hook.
Squirrel………
Or even discuss the fantastic news on our share price.
CHELTENHAM NAPS COMPETITION.
Please post here
http://www.celticquicknews.co.uk/celtic-v-rangers-live-updates-2/comment-page-32/#comment-3024804
Or alternatively where you can.
Last resort,mail me on
bmcuwp@gmail.com
I’ll forward them to Fleagle1888
Aiden going through a good spell in the Championship just now, but he never seemed to cut it at International level, either for MON or Trapatoni. If he is chosen in the upcoming massive game against Wales, how he plays will be interesting. But I think his Celtic Park boat has sailed a long time ago
I think Aiden’s ship has sailed with regards to Celtic.
For my money, he was never a winger, more of a number 10.
However, it seems that no manager trusted him in that position, therefore they shoe horned him onto the wing, rather than not have use of his skills.
He probably lacked the physical strength and energy to play his preferred role and as a result, he fell short of the player he could have been.
Delighted that he is enjoying his time at Preston and that he is delivering for them.
Aiden McGeady .
No – Thank you ! .
Lovely day -way down south .
Today’s choons –
7″ -The Poets -Baby Don’t You Do It (Immediate )- produced by Gary Glitter !
7″ -The Aardvarks -I’m Higher Than I’m Down (Vark )
7″ – Shady Daze -Love is A Beautiful Thing (USA ).
Back to work — Pruning climbers -Hey Ho !!
Hi Bhoys,
Two of are heading over to Glasgow from Ireland for the Celtic v Sevco game on April 23 in Hampden Park. I’m not a Season Ticket holder and therefore will have little or no hope of getting my hands on a ticket (or two). If any of you Bhoys hear of any spares available, I’d be extremely grateful if you thought of me. Almore and CorkCelt can vouch for me, I’m a true Tim who travels over numerous times every year to see my beloved Hoops.
HH.
Aiden?
Oh yes,…………….. please,………… thank you.
Roberts, GMS (possibly) will be gone, wee Jamesie is long term contracted to do his thing.
Brendan would get a good new game out of McGeady’s skills, the more good players the
better.
unfinished business CSC
Davidopoulos on 14th March 2017 1:11 pm
Yeah – we all know they are.
But aren’t they (or at least King) trying to claim they aren’t?
If so the £18m investment he spoke about MUST have been all his money, no?
If some (most!) is theirs then surely that proves they are in it together?
Turkeybhoy,
Are you in Turkey just now,heading to Lara Beach at end of the month
and was wondering what the exchange rate is over there
Thoughts:
– I would have Aiden back in a heartbeat. Obviously it would depend on salary and the status of Paddy Roberts. If Paddy goes I’d be happy to see Aiden come in along with another winger.
– Saw something on newsnow which suggests Kolo Toure is our joint top earner with £25k a week. Is that right? Surely the one year extension won’t be on the same money now he’ll be coaching?
– The zombies game hinged on a few things; below par performance, bad luck, poor finishing and classic a Bobby Madden performance. Reminder that it could happen in the semi final.
– Sky Sports are as hunnish as anybody
– DAVE KING MUST STAY