Tuesday’s Telegraph suggested Mike Ashley is about to increase his shareholding in newco to 29.9% via a share issue, in contravention of his agreement with the SFA on multiple ownership. This morning the club informed the stock market the Ashely’s appointee, Derek Llambias, is now chief executive.
The key passage in the Telegraph article is:
“There is no certainty of anything like unanimous approval, but many in the higher reaches of the Scottish game acknowledge that a revived Rangers, capable of resuming the Old Firm rivalry and renewing the club’s presence in Europe would make Scotland more attractive to broadcasters and league sponsors, with general benefits.”
This has almost certainly come from the same kind of club source which in another lifetime were assuring journalists that HMRC would agree to a CVA; I know for sure the SFA are far from ready to rubber-stamp an Ashley land grab.
There are a few points which, despite blanket coverage of this issue, are not getting a proper hearing:
At current trading levels, Ashley is earning around £4m p.a. from newco as their retail ‘partner’. He is also their exclusive wholesaler, so the club is worth even more to him, let’s say £5m p.a. in total.
Anyone who tells you his financial pay-off is through having newco wear his branding on a European stage is either wholly compliant in an attempt to mislead newco fans, or is simply regurgitating information handed to them by PR agents, without the wherewithal to digest the information correctly.
He’s making £5m per year and he therefore has an interest in ensuring the club continues in its current condition.
The second issue is around the legality of multiple-ownership. It is not against Uefa rules (you can simply comply by one club not competing) but does breach rules in Scotland and England. I recommend not getting too hung-up on this point. In the event he was asked to disinvest from one of his clubs, Ashley could with pull a Blue Pitch Holdings/Margarita stroke.
For all you know about those two newco investors, I could own them. It’s a paper exercise for Ashley to move his ownership beyond the reaches of oversight, and there is nothing in the rules to prevent this.
The question for the SFA, and eventually the FA, is what level of Ashley’s influence, not ownership, they are comfortable with. There are no guidelines on this point.
A further consideration is that whoever briefed the Telegraph at the start of the week is likely to have painted a scenario that without Ashley’s next bung, newco is likely to go the way of oldco. This is far from certain.
If all newco need to survive another season is circa £8m it’s not a figure beyond the realms of possibility for some of the blowhards who have been trying to disrupt Ashley’s strategy in recent months.
My hunch is that the SFA and newco’s fans will be presented with a fait accomply – it’s Ashley or bust. What is certain is that the club will be vastly more inhibited by Ashley milking it dry than with a unifying figure. He has the makings of a memorable Ibrox owner, a true heir to Sir David Murray.
Thank you to everyone who participated in our Magners ticket competition yesterday – and who donated to Mary’s Meals. The answer to the question, who do we play on 27 December, is Ross County, which proved to be trickier than I thought. Draw will be made this afternoon and winner informed thereafter.
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jamesgang –
how many ‘aff oots’ can one (big) man have. That’s at least 3 since 7.00 ;-)
Bhoys3
That’s what I was getting at earlier.
Win the midfield. Win the game.
Lennybhoy –
running at the moment….
BT.
Mibbee no just me!!!!
Takes all sorts!!!!!
:-))))
Pmsl – but that’s an incontinence matter!
HH jamesgang
sipsini
19:28 on 19 December, 2014
Jamesgang,
Yer a big sweetie:)) HH
Petec,
How are you mate? You can do some sessions on here. HH
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It is Spooky, Dan Dare Dooky, when you Luke at Times posted. Coincidence, I certainly didnae CONTRIVE to post at that Time.
There defo is A Spirit that dwells here, IMO.
jamesgang
WTF does “ach” mean, ya screwball. :-) luv ye tae bits BTW. Hahaha. Enjoy yer night out with your beautiful good lady. KTF.
Weefra HH praying to Wee Oscar.
sipsini,
I’m fine thanks, I hope you are 2.
Byeeeeeee
Weefra HH praying to Wee Oscar.
Jobo
The rest have finished. ;)
2nd
kevjungle – no jungle means that the rebels are now sheep
We don’t play a flat back four. Three at the back would be an extra defender for us
jobo baldie
19:46 on 19 December, 2014
Good luck.
Keep the Faith!
Hail Hail!
Jobo
Always leave them wanting more/ you to gtf!
Anyway. Did I say. Aff oot!
HH jamesgang
Whit the feck is it weu….?
Another binger,
twisty we need you back…
Anyone who listens to Radio Clyde Superscoreboard is….well just let say, is easily pleased.
Give me Hope
BT/ Jamesgang
Thank you from the bottom of my heart.
HT
Hello Bhoys, I have two nephews with tickets for Tannadice on Sunday looking for 2 spaces on a supporters bus. They are based in Cambuslang so anything within a reasonable distance would be ideal. Thanks.
KevJungle – No Jungle means that the rebels are now sheep
19:35 on 19 December, 2014
Celtic should be able to play with 2 strikers without too much trouble I’d think, as long as their clued-up enough – discipline and team shape wise. Do we need a flat back 4?
I don’t think so. Ah mean, who are the wingers that we’ll be facing? I think that the best way to go is the MO’N way 3-5-2 although, when we’re on the back foot I’d be more cynical than MO’N was and, get the bus parked – fluck the Celtic way. Playing the Celtic way is ok if – you have Celtic players. We dont. James Forrest(if fit) is what I’d call a Celtic class player.
Having said that…JF falls into the ‘get rid of’ category for me, purely in terms of his inability to stay fit, Lustig is another one. Ye see….an always injured player is exactly that – always injured.
RD says he’ll be looking for quality over quantity? Hmmmmm? Well, we’ll see.
LG before Stokes – every day of the week for me. Maybe RD is being a cutie and keeping Stokes in the team in the hope that some dafty will buy him?
If sumdy does buy Stokes…I’d use the money recieved to, pay-off all the injured players and no hopers and put a stop to them being a drain on resources.
What happened to Stephen Moyokolo(sp)?
Thought he looked alright v’s Liverpool, btw…there’s no harm in trying to pick up a bargain but, that shouldn’t be the premise in terms of recruitment.
Play LG as the floating striker behind JG – LG must play through the middle or, floating not as a winger. The SMSM hate LG so, if I was RD…LG would be the 1st name on the team sheet and would accompany the manager at his media stuff.
Anyway…3-5-2 is the way to go – reverting to the bus being parked when on the back foot.
Alll of the above is – imho
Hugh Keevins – Your a Legend mate – Hail Hail – Keep it lit pal.
Off oot, bye.
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I think the Acid test will be what happens in the close season.
Ronny D, I reckon will have you happy as Larry, especially if the Manager dictates the Close season, Fantasist moi?
Definitely.
Work the Crew, let the Boss persuade the awesome, it has to said, Kevj.
off oot for a bit.
the big guy at the back…supporting wee oscar.
I’ll text a few folk and get back to you.
H.T.
Hope your next 3 days are good ones.
Seriously if I can help in any way let me know.
As you know just 5 mins in the car away.
Gerry
I’ll ask my dad who he is taking in his car..
GLASGOW IS GREEN AND WHITE !
BT
Ref the TBM. he is some man
holed up in halfway feeling sorry for himself and anyone .
will give him a call in the morning anything happening in the club tomorrow,need to pick up
my membership before its out of date.never know he might venture oot for a pint.
HH
Weefra,
I’ll defiinately be there, suited and booted. HH
JNP
Thank you T.
Anyway have you asked that bhoy about the Easter bunny :-)
Butsy
game on sunday but too earlyfor tbm as he is at 12 mass in st cadocs.
if you get into club tomorrow ill get down as i was i hospital last time
Petec,
Not bad mate, once I get rid of my santa nose:)
the big guy at the back…supporting wee oscar.
Can your nephews get to the Gallowgate for 9:30 on Sunday morning mate?
How’s all you jungle Jim’s on Black Friday ( not meant in any racist manner btw )
Not read back … Any comments on Jackie backing Paton when the tv clearly shows him spitting on the sheep ?
TBGATB
just spoke to old crabbit,,he is taking two of my nephews aged 15 and 16,
you better get in quick caus I’m taking abuse at the mo…
“There was a contract there and we didn’t even look through it, we just signed it and that was where we were. “
It would be quite funny if RIFC used the agm to announce they were going into admin.
sips
:-)))) night.
Weefra HH praying to Wee Oscar.
Thanks, HamiltonTim
HT
See you and buses the original convenor U should be called BLAKEY.
HH
sipsini
20:07 on 19 December, 2014
Petec,
Not bad mate, once I get rid of my santa nose:)
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Camu Camu reinvigorates a compromised immune system, IMO.
When a bug is trying to take hold…. I take twice the recomended dosage, who cares if I have to go and pee, shiite oot ma derrier because of the overdose of oxidants.
HT, apologies, only now catching up on your latest post. I’ll check and get back to you ASAP . Cheers
BT lol