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.
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Is the blog broke or am I too drunk ???
Enjoyed comments on early 60’s Celts. I remember Haffey,McKay n Kennedy playing. Also thought that Ian young was a fine right back. I thought he was a great exponent of the slide tackle. Can’t really remember Mr Kennedy as being so.
Weird intint??
Morning, Welcome TROONCELT , your not big jimmy or the green man in disguise are you ? :))
Good morning and a Big Happy ‘the-fitba’s-back’ Friday 13th from a dark and gloomy East Kilbride.
Still waiting on 25 LMS picks for Week 3…
TERRYMAC
I’m 51, my auld man is 72. Both have used the expression the “The Leather Belts” and plenty of my mates.
Word of The Day (Concert party anyone?)
nexus /ˈnɛksəs/
noun (pl) nexus
1. a means of connection between members of a group or things in a series; link; bond
2. a connected group or series
3. the core or centre, as of a matter or situation.
4. Cell Biology. a specialized area of the cell membrane involved in intercellular communication and adhesion.
Word Origin and History for nexus
n.
1660s, “bond, link, means of communication,” from Latin nexus “that which ties or binds together,” past participle of nectere “to bind,” from PIE root *ned- “to bind, tie”
KTF
Word of The Day MkII (For MurdochAuldAndHay)
impecunious /ˌɪmpɪˈkjuːnɪəs/
adjective
1. without money; penniless
Derived Forms
impecuniously, adverb
impecuniousness, impecuniosity (ˌɪmpɪkjuːnɪˈɒsɪtɪ) noun
Word Origin
C16: from im- (not) + -pecunious, from Latin pecūniōsus wealthy, from pecūnia money
KTF
I see that “comments are closed for this article” on The Herald’s coverage of yesterday’s “concert party” trial.
I fail to see how any punter comment could be any more libelous than what was said about King in court (and most of that from his defence lawyer).
Herald running scared again.
Morning all.
RS had an item on the next Scotland manager. A few names were mentioned. The only one given a voice saying he was interested was McLeish.
Could questions be raised at our AGM about the football media in Scotland, especially the BBC, and their (lack of) reporting of the important matters in our football?
Don’t know if it’s been mentioned but James Mc Millan on Desert Island discs R4 @9am and if blurb anything to go by we’re in for a Celtic fest.
Loud and proud James
HH
Listen to rationale behind berzeking
http://www.independent.ie/sport/soccer/league-of-ireland/the-town-we-love-so-well-derry-united-by-football-on-both-sides-of-the-border-36222813.html
TERRYMAC on 13TH OCTOBER 2017 12:42 AM.
Although I don’t use the term ” Leather Belts” , I have heard it used mega times.
HH.
Weebawbabity
Thanks,and no I’m not eitherbut do miss big jammy
Looking forward to game the morra, wonder what team will play considering big game mid wk
Whomever plays confident of winning(again)
HH
TROONCELT
Did you break the Blog?
Just texted Big Jimmy.
I hope he’s just got (another) bird!!!
BMCUWP
Did BIG JIMMY flounce?
I’m not on every day so might have missed it.
Canny imagine anyone on here upsetting the Big Man enough to flounce.
Hope he’s got a new wummin right enough!
PHILBHOY
Hope the girls had a fine old time of it in Aberdeen yesterday. Fingers crossed for O in six or seven months!
Northern Ireland have again reached the play-offs under Michael O’Neill, who lives in Edinburgh, and whose resources are comparable with those available to Strachan.
Northern Ireland lost against Norway but you could clearly see good organisation and an identity in the team. They have created a spirit these last few years and that is what also makes the difference,” Celtic boss Brendan Rodgers said.
And that is why the SFA might wait to see how Northern Ireland fare in the play-offs before ruling O’Neill out as a potential successor.
http://www.independent.ie/sport/soccer/international-soccer/moyes-in-the-frame-for-scotland-job-in-wake-of-strachans-departure-36222815.html
Alasdair LamontVerified account @BBCAlLamont 6m6 minutes ago
Alasdair Lamont Retweeted BBC Sport Scotland
I’m not at the second day of this I’m afraid. Sure there’ll be updates later in the day though.
#####
I wonder what it is he, or his employers, are afraid of.
PHILBHOY
He didn’t say he was gonna flounce,just disappeared off the radar.
Hope he hasn’t. You know the rules-no flouncing without a tutu.
Oh,my eyes!!!
I missed Big Jimmy’s flounce. But I am told Macjay flounced too.
Who’s was the Best flounce?
MWD
BMCUWP
The wee yin is interested in a degree course that usually attracts about 450 applicants. Uni said after approx 10% drop off they normally take on 60 students, so she has her work cut out!
She is over qualified and personal statement looks good (mind, I’m biased) and there is an interview process as well.
Fingers crossed!
Hope you are all well Bud and looking forward to 11/11!
MWD
MACJAY’S was very low key.
He thanked Paul for the platform and said goodbye.
Another good Tim gone!
Philbhoy
That was very decent of him. For once.
He’ll not be missed by me.
MWD
Just reading back………..
Tontine Tim, your stories and especially the nicknames you conjure up for us makes for some of the best reading on here imo – thanks, and Keep It Lit!
On another point, when the discussion here turn to the wax and wane of contributing comments I always thank god ……….. that we have the daily article of Celtica from our gracious host. To me anything else is just icing on a very good cake.
HH.
MOONBEAMSWD
Aha-in best Alan Partridge voice(!)
Now that you mention it,they were both on at similar times,then disappeared at the same time!
Coincidence-I think not!!!
InspectorCluelessCSC
PS-naw,I know they’re different people. But they would say that,wouldn’t they? If they hadn’t flounced,of course. At the same time…
PHILBHOY
Start saving up. Expensive place,McChuills,I mean,Aberdeen.
See ya there,mate.
If GS had performed up to the standard of his bosses Scotland would have lost every game.
Sadly, the SFA executive don’t own a mirror.
BMCUWP
I’ve still got the CL ticket money that I put aside!
MEA CULPA on 13TH OCTOBER 2017 10:56 AM
If GS had performed up to the standard of his bosses Scotland would have lost
every game.
Sadly, the SFA executive don’t own a mirror.
….and their works team dont dae insight either,
cheating is their way
:-)
HH
BMCUW et al,
Sorry I can’t make it on the 11/11. Pesky work interferes again.
However I’ll have a few in McChuills this Saturday prior to the game. In fact I’ll have an extra few to make up for not being there.
As for flouncing: It’s so yesteryear and it’s so establishment. So guys get your a@ses back on here and argue the toss.
Celtic supporters are a diverse broad church , we need to reflect that diversity of opinion. Remember all posters are equal.
Don’t let the clique grind you down. : )))))))))))
HH.
Morning CQN from BGFC. and Wee BGFC – on an S-Bhan train into Munich centre from Erding where we stayed last night.
Looking forward to a more calm travel day after yesterday’s dramatic trip down to Manchester Airport.
Great hotel breakfast, including Bavaran sausage, so set up well for the day.
Weather is beautiful – sunny, warm with some high whispy clouds, and a gentle cooling breeze. Shorts and Hoops is today’s attire.
Beer beckons :-)
HH
BGFC
Friday 13th a bad day for a podium folks, so nae lurking n hope .
Hope the bad weather keeps up for the whole day and night, geese Pedro an excuse.
new article posted.
HI FLEAGLE !
hope this is the right place for this weeks donkey…
Arbalet 2.25 newmarket
good luck to all .
3.40 Newmarket
Who Dares Wins
Best of luck to all
Cheers GFTB
Just A Thought 2:30 Chepstow, good luck everyone.
15:15 York
Golden Apollo
HH.
Newmarket 4:15
Club able.
(Haven”t mastered this new toy yet)