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.
2,054 Comments- Pages:
- «
- 1
- ...
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- ...
- 55
- »
Tbgatg
probably better with HT as they need to show the fact that they went to mass beford getting into rc tyre.
well before tohg lets them into his car … o))
Butzy.
Tell Paddy on Sunday that H.T. is angling to be in charge of Cumbernauld bus too. He will believe you!!!
H.T.
He’s still denying Easter Bunny.
the big guy at the back…supporting wee oscar.
It’s not my bus mate. I’m going in the car as I’m on duty at half 5 Mass and need to get back but there’s no room.
Tell them to go to The Wee Man’s on the Gallowgate. It’s the Dennistoun No1 bus.
They’ll look after them.
Good evening
http://youtu.be/JMAOb1BD1Rs
Enjoy
To be honest my heart sank when I read Ashley wants to expand his shareholding in newco to nearly 30% !!
I pray every night he would gtf …………..A twenty million investment is absolutely feck all to him …..peanuts…………Decent manager……few decent players ….not world beaters……SPL pretty easy meat I would think
I’m firmly in the tinytim. And jimtim camp …………fecking nightmare looming !!!!!
Butsy/JNP
Give it 6 months and I’ll be running the Cumbernauld bus :-)
Off oot to play Counterstrike Global Offensive with a couple of online Dudes and My Son and hopefully my wee Brother in Switzerland.
Wish me Luck.
Lucky Man
HT
Sorry for your troubles.
Any help I can offer in worcs way
HH
HT, yes, they can be at Gallowgate for 9.30am. Where specifically and who should they speak to?
Thanks for your help with this, very much appreciated.
TBGATB
TBGATG
just sent your cv to HT so he can trust you..,
Hello again all you young rebels.
Getting a wee bit fractious again on the blog tonight so how about a tale
from my distant past just to lighten it up a bit.
Ok, at this time of year i think of my close mate and his twin boys both
born blind on Christmas day, they grew up to become avid Celtic fans
just like the rest of us and my mate became a commentator for the blind
party at all the games at Celtic park.
Now in those days ( 1980ish ) the party weren’t as well looked after as
they are now and they were shoved away up the back corner of the old
stand beside marauding pigeons and a howling gale coming through the
broken plastic but it didn’t deter us and we all had some great laughs.
After the passing of the great Arthur Montford i got to thinking how my own
commentary career came to an abrupt end at a dark murky Broomfield park
Airdrie.
The away games for the party was a case of whoever turned up would meet
up outside the main stand at whichever teams ground we were playing and
my mate had told us all he would be away working for a few weeks so would
i do the commentary for the guys as there was no one else, nae bother said i
being a rather talkative person i thought here’s my big chance.
The day of the game we had a party of about eight and we were placed on the
corner of the terracing next to the old Broomfield stand the boys Jim and Alan
(maybe some of you guys will know who i’m talking about) in front of me and as
the game started so did i, but rather tentatively as there was a big crowd packed
round about us and they were very quiet and i thought they must be enjoying my
commentary so emboldened i turned up the volume a bit and started using words
like McLuskey tried a prodigious effort there…and …a great diagonal pass from
McLuskey when i looked at the boys they had their heads together whispering and
eventually Jim said…uncle Mick.
Whit said i, rather peeved that my monologue had been interrrupted.
You keep saying McLuskey did this and Mcluskey did that but McLuskey isnae even
playing.
Whit dae ye mean he’s no playing.
well when you were at the toilet the guy read out the teams and McLuskey’s a sub.
so a said who’s that playing centre then?
How dae we know, your the one daein the commentary
Cue the howls of laughter and derision from round about and a few eeeaws from the
wideos up the back.
needless to say that was my new career over.
Arthursalegendandamno.
H.H Mick
Vinniethedog
I agree 100% bud
Gerry
email me at blantyretim@aol.co.uk and ill give you ht mobile number
HT, jeez, missed you again! The vagaries of posting from a phone during a works night oot!
I’ll direct them to the Wee Mans, as you say.
Thanks for that, mate.
Gerry
notthebus
20:12 on
19 December, 2014
“There was a contract there and we didn’t even look through it, we just signed it and that was where we were. “
———————————————–
Appears to have read it now :
“I don’t know if it’s realistic or not, but I expect it to happen because it is in the boundaries of the contract, which I look to honour.”
solmick
It’s not for these pages my friend but you’ll never know what that post meant. Thank you.
You’ll now get a free desert at The Cathedral Cafe :-)
Gerry
Yer well quoted if BT says your ok :-)
Evening timland from a rather warm East Lothian, are they deid yet?
Just watched the big John Hartson documentary that was on Alba last night and all I can say is Get checked and “Grab life by the Balls” the big mhan nearly left it to late and for me watching it ,his prayers were clearly answered.
I’m getting a wee bit worried about my tree, its real and it’s either giving me a sore chest or killing me but I can’t stop myself from watering it. .
shout I be like the orcs and get a false tree or be like us and continue with the truth and suffer with the cheap sfa option…???
BT
Buy a flat.
HT
with my belly a flat is a no no. ..
Big Cup Winners/CRC
Miss the Friday night quiz chaps.
Any chance of you coming up with a festive edition for old time sake?
Early prediction for Sunday………
D UTD 0 Celtic 3
Vinnie – 20m covers this years losses and next years. It doesn’t allow for any squad improvement.
lennon’s passion
19:31 on 19 December, 2014
We’ve already got 2 better than efe, efe plays because of denayers injury.
I was talking about players who get mentioned on here taking a first team slot not just random players we might pick up here or there.
Burghboy
im sitting with the Celtic football companion so
ask away or tell me
top scorer in 1980/81 season..how many goals
and same for 1981/82 season
btw no points
Btw league only cos im on the vino tinto..
the big guy at the back…supporting wee oscar.
19:56 on 19 December, 2014
If the bhoys are still stuck the starry plough from rutherglen pick up at cambuslang train station
mcclusky 18
nicolson 29
Hun skelper
good man, we now have Cambuslang , Blantyre and Glasgow for the bhoys…
KTF
BT
Has being waited on by the two lovely ghirls, caused your waist to expand?
Good luck for 2015. You’ve had it tough! :)
Stivs
Wrong…
HT, the privilege of knowing BT is all mine, mate, and thanks again for your help with the boys/bus.
HH
TBGATB
nicolas 29 was in 83.
cap on again
Anyone watching the darts, this competition on Sky is mental!
blantyretim is praying for the knox family
20:50 on 19 December, 2014
We never leave our own HH
hun skelper
The Starry????
I wouldnae send a dug on that bus :-)
And I mean the fans