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We’re going to miss Dave King when he’s gone

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There may be some glib and shameless laughter if Dave King is forced to relinquish control of Newco by the court after his hearing, which takes place today and tomorrow. The Takeover Panel ruled that he led a Concert Party in the period leading up to his takeover of the club in March 2015. As a consequence, King was instructed to make an offer for the entire shareholding, which he failed to do. The simultaneous effects of ‘Cold Shouldering’ leaves the club hampered in their abilities to raise money.

None of this is welcome. I will be genuinely sorry if King is forced to relinquish control of Ibrox. His interference at the club, which started within days of Sevco 5088 being awarded the rights to buy Rangers assets by administrators Duff & Phelps, has been malignant.

Within a week of the Sevco 5088 offer being accepted, owner (disputed) Charles Green was asked to step aside. Green was quickly forced to abandon his projections, instead he had to over-promise what he could deliver, and sell cheap tickets in order to get fans, who wanted others to control the club, on board. Ever since Newco has haemorrhaged money.

It managed three promotions in four years, but now seems doomed to forever perform the role of hapless cash cow for the rest of the Premiership. They are good box office, add valuable income to the coffers of every club they visit, but are unable to generate enough money to break even.

The really puzzling aspect of King’s failure to make a share offer, following the Takeover Panel’s ruling, it that I’m sure it would probably cost buttons. If every shareholder took up the offer, there is a potential £11m bill, but surely few, if any, would exit at this stage, for 20p a share? I cannot see this being any more than an exercise of going through the motions.

Irrespective of the likely uptake of an offer, King would need to show the means to make good for the entire £11m, just in case, before proceeding. You or I could to through the motions of a meaningless £11m offer, but few of us could demonstrate the follow through. Perhaps King is in the same quandary.

I know we mock King’s pantomime PR and general ridiculous-ness, but he is perfect for the job of controlling Newco. For most people, for most clubs, this week’s shenanigans would be humiliating, but Dave and his cronies are made of stronger stuff. Hang in there, Dave, we will miss you when you are gone.capture-20171009-120341

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  1. 50 shades of green on

    WITS.

     

     

    Who?????

     

     

    Us way mad Frankie or

     

     

    The Zombies.

     

     

     

    If its us then aye.

     

     

    Zombies then naw.

     

     

     

    H.H

  2. oops –

     

     

    funeral party box !.

     

     

    That done – the woman from Padova will stick it on Discogs !

  3. “TAB – agree with initial finding that DK and GL were working together to acquire block of Rangers shares.#2

     

     

    BOOOOOOOOOOOOMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  4. 50 shades of green on

    So the Zombies are trying to crowd fund to stop the hoops broomloan parties are they.

     

     

    Well for a start its gonna cost more than 9p a head ya rockets so dig deep.

     

     

    But when you go thrupnies up again you wont need to worry about us, worry about were your gran weans will be watching fitba.

     

     

    I’ve been to the last 3 broomloan parties but if it was a reciprocal (?) agreement I would happily leave that dump oot my travels if they never darkened our doorstep again.

     

     

    H.H

  5. Totally agree Paul. The longer GLIB remains in charge, the better. A very divisive figure. Even the SMSM and the Sevco fans have started to see through his lies and false promises. Me – I love the guy. Long live the Lying King.

  6. Pingback: We’re going to miss Dave King when he’s gone | Celtic News Extra

  7. NEIL LENNON & MCCARTNEY on 12TH OCTOBER 2017 10:36 AM

     

    BENDIGO on 11TH OCTOBER 2017 12:37 PM

     

     

    http://m.independent.ie/sport/soccer/international-soccer/uefa-nations-league-republic-of-ireland-northern-ireland-and-wales-will-be-in-b-competition-36217269.html

     

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

     

    “The league stage of the competition takes place between September and November 2018″

     

    More club v country debate at a time when Celtic (hopefully) will be playing CL group games?

     

    You’ll be getting no debate from me lad:) How’s the form? Still in Scotland?

     

     

    __________________________________________________

     

    Seems a bit weird alright. How’s the form? Still in Scotland

  8. GlassTwoThirdsFull on

    Agreed, Paul. I was hoping this clown would be around for a long time, although I really don’t see that club as any kind of relevance to us, regardless of who is in charge. More a source of comedy!

     

    Eye on the ball, Celtic and things should stay good and hopefully get better.

  9. Gerrybhoy congratulations

     

     

     

    welcome to the Celtic family Innes.

     

     

     

     

     

    IanBhoy929

     

     

     

    HOooooooooooooooooooooopy Birthday

  10. Paul, it sounds like the equivalent of the old shotgun clause where one partner says they are going to buy the other partner out.

     

     

    It is farcical that King did not even make a derisory offer.

     

     

    I guess the glib and shameless one did not have the bits or the bobs to do so. The question is, can he still do so and if not what happens next?

     

     

    King seems to be a kind of Frankie character ala some mother’s do have em!

     

     

    HH

     

    gsu

  11. He’ll be a hard act to follow ole Glibby…

     

     

    Congratulations to Gerrybhoy and Job on their new arrivals, may both children be blessed and healthy.

     

     

    Happy Birthday Shades and IanBhoy..

     

     

    Celtic Celtic that’s the team for me..

  12. Big Georges Fan Club - Hail, Hail, Wee Oscar on

    BGFC and Wee BGFC here on a plane !!!!

     

     

    Ooft. Ran full pelt through Manchester Airport. Made it 6 mins before gate closed.

     

     

    Shattered – beer calling..

     

     

    Will update when we touch down

     

     

    HH

     

    BGFC

  13. HOT SMOKED

     

     

     

     

    “His focus should be chasing Celtic and making sure they don’t get 10 in a row, rather than trying to play mind games and not showing respect to another manager.”

     

     

     

    Hmmm why would the Saints manager worry about ten in a row when we’re only going for seven:)))

     

     

    We know what you are Tommy!

     

     

    The Horror, The Horror!!

  14. The Lying King:

     

     

    “The decision by TAB is part of the price I have had to pay for being determined to rescue Rangers Football Club from its previous regime and the drastic consequences of their actions. I do so willingly.”

     

     

    The man is a martyr.

     

     

    SP

     

    I read that as a further dig at Them and how far behind us they are.

     

     

    JJ

  15. THOMTHETHIM FOR OSCAR OK on 11TH OCTOBER 2017 11:46 PM

     

     

    Tontine Tim,

     

     

    I do recall though, the game at Kilmarnock, where the thug Billy Hamilton did both Billy and Bobby.

     

     

    *it was actually ronnie hamilton a dyed in the wool templar who on making his debut became the youngest outfield player to play in the big league after the war. He would go onto become their chairman. He had the opportunity tae further his career at bigger clubs but chose tae remain part time and continue his education. Still a thug that night though.

     

     

    Strange team with nothing tae play for as we had already won through tae the quarters of the LC and who had a half back line of Pat O’Connor, Jackie McGrory and Frank Beatie, all Celtic minded. The former I believe kept Pat Crerand out of the Holyrood school team.

     

     

    What can you expect though with a management team of waddell and “you run the line Jinky” mccrae.

  16. SOUTH OF TUNIS on 12TH OCTOBER 2017 10:12 AM

     

     

    Still being twirled ( and bugging the hell out of my mother ) at the end of the month and a 1-0 victory in the League Cup Final v The Deady Bears. Great goal from the Buzzbomb man and great goalkeeping from Faither.

     

     

    *my main memory of that game and goal and there’s still footage out there is of wee ten thirty having the ball and to his left is the buzz bomb, Bertie launches it forward to Joe McGoals who heads it down and who comes charging through the middle to blast it intae the net but Lemon. The roadrunner right enough.

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