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.
National Famine Memorial match-worn shirt
For as little as £5 you can win a genuine match-worn National Famine Memorial shirt – AND – help the Celtic FC Foundation do their magnificent work.
Matchw-worn shirts are scarce, Famine Memorial shirts scarcer still. They most often go to auction; they seldom, if ever, are available for a £5 raffle ticket. I know you want this, I know what it means to you. I know you want to do your bit for the Foundation too.
To enter, donate at least £5 here and send your confirmation email, with the answer to the question:
Who was the Brazilian cheat booked for diving when playing for PSG at Celtic Park last month?
Send your answer to celticquicknews@gmail.com with the answer in the SUBJECT line.
Good luck.
294 Comments- Pages:
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Kempton 845 Honiara
Good luck everyone
Morning all
Lagostovegas 15.40 Newmarket
Good luck
Alary 4.10 Chepstow
Good Luck to all
HH
2-40 York
It don’t come easy
Gl all
Morning all,I’ll go with MUFFRI’HA 5.25 Newmarket.Good luck.hh
Spiritual Lady 4.50 Newmarket
Edward Lewis in the 3:15 at York for me
Good luck to all
Hail Hail.
Well Well Well !!
Accies lose 750 grand through electronic fraud.
Then THIS morning it is announced DP of the Sevco bus is a major share holder not only in the zombies but the Accies !!!
What happened to the rules about family members owning two clubs ??
Something Stinks to High Heaven AGAIN !!
Doncaster and Regan CORRUPT CORRUPT CORRUPT !!!!!!
Corrupt de Lion 5.00 York
ROCK THE KASBAH 4.45, CHEPSTOW.
Alary, 4.10 Chepstow. It’ll probably run like cheap gloss paint.
I’ll try again
Coeur de Lion 5.00 York
COSYCORNERBHOY Nap is
MONARCHS GLEN
525 Newmarket.
I’ve not even had a swatch yet. Moving house for a disabled pensioner friend.
Maybe I’ll be rewarded for that with a winner,for once!!!
DIM SAM
Very apt,given the previous post!
Carnageo 17:30 York
Here’s hoping for a change in fortune?
Newmarket 2.25 Flag of Honour
17:05 @ Cork – Templemary Boy – NAP!
Good luck everybody.
Shrewd 340 at Newmarket HH
Bliddy iPhone ran out at 258,and missed a G1 by faffing about.
It’s live now,like I care. Too late.
I’ll go for Bronze Angel 815 K
Internet issues today in NZ…
Nap – Loveatfirstsight
7:45 Kempton
CQN Saturday Naps Competition : WEEK 7 results (Sep 16th)
NO WINNERS:
Losers:
16 roads (Venice Beach)
21-5-79 (Contentment)
BMCUWP (Stradivarius)
Bull67 (Mythical Magic)
Cosy Corner Bhoy (Merlin)
Dim Sam (Captain Colby)
Eurochamps67 (Born to Boom)
Fastbhoy (No Selection)
fleagle1888 (Me Before You)
Gerryfaethebrig (Stradivarius)
Graffitionthewall (Nietzsche)
green T (No Selection)
Gweedore Celt (Mythical Magic)
hashadenough (Dominating)
leftclicktic (Fayez)
Nye Bevans RS (Defoe)
Onemalloy (Home of the Brave)
RayMac (Defoe)
Rockon (Curious Fox)
Som mes que un club (St Mary’s)
twists n turns (Spring Garden)
voguepunter (Home of the Brave)
Weet Weet Weet (Minella Beau)
Zihuatanejo (Bronze Angel)
Cheers, fleagle1888
CQN Saturday Naps Competition : WEEK 8 results (Sep 23rd)
WINNERS:
leftclicktic (Take Cover) @8/1
Losers:
16 roads (Brave Deed)
21-5-79 (The Auld Hoose)
BMCUWP (No Selection)
Bull67 (Couer de Lion)
Cosy Corner Bhoy (No Selection)
Dim Sam (Weekender)
Eurochamps67 (No Selection)
Fastbhoy (Fiesole)
fleagle1888 (Couer de Lion)
Gerryfaethebrig (Fidaawy)
Graffitionthewall (Jumping Around)
green T (Anything Today)
Gweedore Celt (Across the Stars)
hashadenough (Apex King)
Nye Bevans RS (Enjazaat)
Onemalloy (Reshaan)
RayMac (City of Joy)
Rockon (Easy Tiger)
Som mes que un club (Bow Belles)
twists n turns (Davids Beauty)
voguepunter (Easy Tiger)
Weet Weet Weet (Santiago de Cuba)
Zihuatanejo (Swiss Marlin)
Cheers, fleagle1888
CQN Saturday Naps Competition : WEEK 9 results (Sep 30th)
WINNERS:
leftclicktic (Ballybolley) @10/1
Fastbhoy (Master Stonemason) @9/4
Losers:
16 roads (Cardsharp)
21-5-79 (Linguistic)
BMCUWP (Beckford)
Bull67 (Sioux Nation)
Cosy Corner Bhoy (Sainted)
Dim Sam (Big Country)
Eurochamps67 (No Selection)
fleagle1888 (Withernsea)
Gerryfaethebrig (Big Country)
Graffitionthewall (Saved My Bacon)
green T (Sioux Nation)
Gweedore Celt (Linguistic)
hashadenough (Isomer)
Nye Bevans RS (Sands of Mall)
Onemalloy (Guitar Pete)
RayMac (Ice Age)
Rockon (Mayleaf Shine)
Som mes que un club (Rastacap)
twists n turns (Madeline)
voguepunter (Sainted)
Weet Weet Weet (Master the World)
Zihuatanejo (The Clock is Ticking)
Cheers, fleagle1888
CQN Saturday Naps Competition : WEEK 10 results (Oct 7th)
WINNERS:
Eurochamps67 (Roly Poly) @4/1
hashadenough (Darkanna) @4/1
Weet Weet Weet (Bamoko Moriviere) @2/1
Losers:
16 roads (Wiiphania)
21-5-79 (Raising Sand)
BMCUWP (John Kirkup)
Bull67 (Crownthorpe)
Cosy Corner Bhoy (Justice Lady)
Dim Sam (John Kirkup)
Fastbhoy (Makzeem)
fleagle1888 (Royal Liberty)
Gerryfaethebrig (Kassia)
Graffitionthewall (Voski)
green T (Persuasive)
Gweedore Celt (No Selection)
leftclicktic (Gunfleet)
Nye Bevans RS (Crownthorpe)
Onemalloy (Siyoushake)
RayMac (Siyoushake)
Rockon (Waady)
Som mes que un club (Ventura Secret)
twists n turns (Kyllang Rock)
voguepunter (Second Thought)
Zihuatanejo (Hunni)
Cheers, fleagle1888
CQN Saturday Naps Competition : WEEK 11 results (Oct 14th)
WINNERS:
Cosy Corner Bhoy (Monarchs Glen) @7/2
Fastbhoy (Rock the Kasbah) @2/1
Losers:
16 roads (Templemary Boy)
21-5-79 (Golden Apollo)
BMCUWP (Bronze Angel)
Bull67 (Shrewd)
Dim Sam (Couer de Lion)
Eurochamps67 (Spiritual Lady)
fleagle1888 (Love at First Sight)
Gerryfaethebrig (Who Dares Wins)
Graffitionthewall (No Selection)
green T (Arbalet)
Gweedore Celt (Flag of Honour)
hashadenough (Clubbable)
leftclicktic (Carnageo)
Nye Bevans RS (Just a Thought)
Onemalloy (Alary)
RayMac (Alary)
Rockon (Honiara)
Som mes que un club (No Selection)
twists n turns (It Don’t Come Easy)
voguepunter (Muffri’Ha)
Weet Weet Weet (Lagostovegas)
Zihuatanejo (Edward Lewis)
Cheers, fleagle1888
Hyper-links to all of the weekly selections :
Week 07 – 16th September
http://www.celticquicknews.co.uk/jozos-achilles-mcgregor-mcgeady-succession-for-scott/comment-page-12/#comments
Week 08 – 23rd September
http://www.celticquicknews.co.uk/celtic-so-many-good-options-for-so-many-positions/comment-page-4/#comments
http://www.celticquicknews.co.uk/astonishingly-good-financials-underpin-on-field-success/comment-page-12/#comments
Week 09 – 30th September
http://www.celticquicknews.co.uk/breakthrough-win-as-jozo-and-dedryck-take-control/comment-page-10/#comments
Week 10 – 7th October
http://www.celticquicknews.co.uk/taking-a-pop-at-celtic-vulnerable-heynckes/comment-page-10/#comments
CQN Saturday Naps Competition : WEEK 11 standings (Oct 14th)
It’s all change at the top of our leaderboard as back-to-back winners at 8’s & 10’s in Weeks 8 & 9, sees leftclicktic charging clear of the chasing pack. hashadenough is the closest challenger, with Nye Bevans RS following up in 3rd place.
NAPS TABLE – Week 11
+14.00 > leftclicktic (3)
+7.00 > hashadenough (2)
+3.63 > Nye Bevans RS (3)
+1.00 > twists n turns (2)
-0.60 > Fastbhoy (4)
-3.00 > voguepunter (1)
-3.50 > Cosy Corner Bhoy (2)
-4.00 > Som mes que un club (1)
-5.00 > 16 roads (1)
-5.50 > Rockon (1)
-6.00 > Eurochamps67 (1)
-6.67 > Weet Weet Weet (2)
-7.25 > Graffitionthewall (1)
-8.75 > Dim Sam (1)
-11.00 > 21-5-79 (0)
-11.00 > BMCUWP (0)
-11.00 > Bull67 (0)
-11.00 > fleagle1888 (0)
-11.00 > Gerryfaethebrig (0)
-11.00 > green T (0)
-11.00 > Gweedore Celt (0)
-11.00 > Onemalloy (0)
-11.00 > RayMac (0)
-11.00 > Zihuatanejo (0)
Cheers, fleagle1888
Cheers, fleagle1888