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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Burgh
Totally agree about the quiz. I really miss it.
Hope your prediction is true. I fancy DU 1 Celtic 4.
Ever get the feelin
BT will be a strict quiz master :))))))))
the big guy at the back…supporting wee oscar.
You’re welcome sir, Eddie or Jeanette will look after them.
Cragganmore 12
Jura Supertition
Glenkinchie 12
Arran 10
Glenlivet Master distiller’s edition
Bowmore Enigma
An Cnoc 12
Dalwhinnie 15
Lagavulin 16
PLUS
Nestville (Slovak Product)
Guess what I am doing?
And guess what I am doing tomorrow with all that little lot.
DD
went for a pint in parkville tonight, my mate says you’ve put on weight and yer looking older..
oh well 4 months opiates and sitting on a couch..here i thought i was ok…
hamiltontim
20:53 on 19 December, 2014
Mental bus, had some mad away days on there haha
BT,
McGarvey and mcclusky.
BT
STOP.. don’t water the tree anymore they gave you the wrong beans.
Jack
Leftie
what was the question?
HT
Honest mates can be a bummer at times. :)
Is that one of HH’s places?
HT
is there a bus u don’t know.you should write a guide for the CQN
Blakey
Leftclicktic
No
Thank You
A real Gentleman, who knows his Fitba, whit a combination
It was a pleasure Bhud
Hail Hail
Evening Timland from a cold hun freee mountain valley.
weeminger
Paul reckons Mash is racking in 4-5 mill a season from the hoards.
They are losing 8+ mill a season, allowing for increased sb sales and mechandise sales, he will do well to break even.
He may well be minted, but stupid he ain’t, me thinks he is after the deeds that bommer is still looking for.
HH
HT
Hope all is well Bhud
Hail Hail
Oh
1980/81
Mcgarvey 23, nicholas 16, McCluskey 10
1969 1/82
McCluskey 21, mcleod 10, mcgarvie 10
no point cause im a fat old opiate dependent tim…8))
Butsy
HT is a great ticket organiser. I have been lucky enough to experience that on more than occasion. Top man.
A comment from a poster on bill mcmurdos bigotfest of a blog (the comments section is bigoted btw. The leader articles are never bigoted. They are, however, frequently very very stupid).
Poses a good question…..
dougie57
DECEMBER 19, 2014 AT 4:01 PM
If They pay £5, we will pay £10, and where did that get us. We MUST live within our means – when was the last year we did that.”
My guess at the answer would be 1984. Would I be right?
http://youtu.be/1cST0pMl3Jk
Christmas wrapping Celtic style.
Guidetti is some stuff :))
Butsy
H says she’d better not be the Wumman with the glasses :-)
Cowiebhoy
Light a candle my friend, that’ll do.
prestonpans bhoys
I love the darts.
Have a dart board in teh cave, every year when the WC are on, get back into throwing them again.
When I lived in scotland, played darts for a few teams, I miss it.
HH
Snake P
Notice Jura Super(s)tition on your list. I go over there frequently and it is a lovely dram. Keep your eye open for Jura Brooklyn, one for the future (to make a wee profit). Their “elixir” is good but the 16 year old is excellent. They also have a whole range of limited editions.
I’ll be back on the Isle in January, so if you need anything, let me know.
delaneys dunky
It does the missus’ head in sometimes because I spend so much time sorting tickets, buses etc (not just on here) but I buy her away tickets so she gets over it soon enough :-)
theunthankroad
Superb nip, i enjoy every nip…
i use crap for a toadie but love the jura…
H.T LOL.!!!!
Olive was her name.
She was married to Arthur so tell H. She’s safe.
HT
Sacred Heart Cowie 10am Sunday
( Jobo, it’s only a couple of miles from Airth Castle, so you can make it too :-))
Thoughts and Prayers as well Bhud
Hail Hail
HT
Don’t know how you find the time bud?
Glad you do though! ;)
melbourne mick,
You must have known Albert that commentated for the blind, in the sixties, seventies and the early eighties.
When I turned eighteen I joined the Celtic pools and he was the agent in Barr& Strouds, I won it on the first week…£280 if memory serves right, a lot of money back then.
To be honest, I didn’t get to know Albert as he had a presence that even the huns were wary of.
Always an old gentleman to me though.HH
BT
Thanks for the impromptu quiz.
Unfortunately, after posting my request I went in the bath to listen to Evan Williams on the podcast!!!
That’s ma excuse for no answering anyway cause I’d obviously have got it !!! Lol
TET
From other night, that song, yes same reason I remember it for :-)
Ruined Marspapa night right enough
Hail Hail
The exiled Tim,
I’m arithmetically good alas nothing to do with school but playing the game
JNP
I’ve been told not to post what I was going to post :-)
Cowiebhoy
Our lovely church is being sorted by plenty of monies from our parionioners but it kills themkto see the grant from the national lottery. .
we have great man as our PP, fr Brian Lamb….
HT
Aye that’s H
don’t know whit she is worried about am the feckin driver.BUTLER.
DD
How are u..
Sipsini
Have heard many great stories about Albert from my Uncle John. My grandfather was blind, my gran was his commentator for Celtic and the Pictures.
Melbourne Mick
Great story!
Cowiebhoy
Cheers N need them just now.
delaneys dunky
Anytime for guys like yourself mate and even the ones that are on time :-)
Burghbhoy
Evan Williams , cheers…
BT
Thought you were on the Vino Tinto????
I never knew you angels enjoyed a bevvy.
PS
I take the hint, see you mid Jan with a wee Sample!