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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Just online and skimming back on today’s posts…
Kitalba at 14:57 ….. I leave for Australia on Monday morning, getting on the morning of xmas eve…. will you have breakfast ready for me when I get there?
HH
cowiebhoy
21:01 on 19 December, 2014
Thank you for today.
Keep the Faith!
Hail Hail!
Hamiltontim.. Ma wee niece has just got a teachers job in the Lothian area, North Lanarkshire must be too fussy, for the last 8yrs she has been in Wembley working in a school paid for by the CofE, mainly because she couldn’t get a job up here straight from Uni, she is still a young girl and has seen far too much some of the stories from that area of London would make you cry, I am just glad she is home tomorrow, anyway my point is these days being a teacher is a whole lot more than adding & subtracting sometimes the teacher is the only role model some kids have…. So hear the good comments and just listen to the bad ones
As for Hugh Keevins….. I am sure he wasn’t too complimentary about Tony Mowbray (I might be getting him mixed up with any one of the others) when he was on gardening leave, this has heehaw to do with whatabouttery (?) but sometimes you have too try and be fair,….
aye right, Sooper deserves every single last dime, maybe this is him getting them back for all their booing the 1st time around, leopards & spots !
Lennybhoy….a day out in County Coatbridge ???
What watering hole were you in, my email account will be active tomorrow, gutted, the Mrs was working a 12hr shift today and I ended up hoovering & ironing, I could have easily sneaked out……(after my chores obviously)
So the big debate on Shortie and others this week is , can the SFA prove Ashley has undue influence ?
No balance of probability on that one though, definite proof needed!!!
Ashley’s response today is predictable. He’s called them out , I can do what I want and what are you gonnae do about it?
A straight get it right up ye in anyone’s eyes.
Does anyone think the Blazers will cone out fighting? Uphold the rule book?
Nah , me neither.
Corrupt scum
Butsy
Doing good. No long finished my shift, on my second beer. :)
Catch you again soon I hope for a chat.
Theunthankroad
hope to see you Sunday, if not in the new year , im fighting to have ksc open new years day for the game.
hamiltontim:
I’m with you and will light a Candle at 09:30 Mass on Sunday. Meantime get lots of hugs from minx.
Keep the Faith!
Hail Hail!
BT
Sorry m8. Didn’t think.
I just listen to all things Celtic.
Forgot your Da and him would have been in direct competition.
At least your Da got a winners medal in the Big cup mate !!
Lennybhoy
No, it was Thanks to BJMac today
Some hole Doc was digging was it no :-)
Hail Hail
HT
Cut it fine for Eddie on Sunday too! Having some Scotrail mares recently. :)
gerryfaethebrig
21:18 on 19 December, 2014
Giannini’s, it was just lunch mate, I’m only an e-mail away lennybhoycfc@gmail.com
Keep the Faith!
Hail Hail!
BT
Give him my regards,Gentleman..see that’s
what that fud BMX/BFX or was it a BMX couldn’t
get last night.
HAIL HAIL
HT
KTF
Cowiebhoy
MrsTET told her mother that she would be walking down the aisle to the song Wild Thing by the Trogs, she was pleasently surprised when it was TWSOP >}
HH
……………………………………….
prestonpans bhoys
Exact same here.
When the young fella was over in the summer he played darts all day long, went home and bought a board, he now plays for a team in Aberdeen, took to it like a duck to water, see if he could count, it would help him no end, he was moanin about it to me the other day, practice, practice practice and it just clicks.
HH
Digging a hole?
Which one!
I need no shovel for such work:-)
PaddyBhoy, enjoy the game tomorrow.
BJMac, did I mention I’m on holiday now?
Delaneys Dunky
21:03 on 19 December, 2014
Butsy
HT is a great ticket organiser. I have been lucky enough to experience that on more than occasion. Top man.
I know HT is one of the Greatest ever Celts.
I was privileged to be offered tickets by DD through HT.
I don’t know the man enough to ask for tickets, but I know the man.
I’m the biggest sinner ever, never forget that.
Glassgow Celtic playing Celtic Football?
cowiebhoy
21:22 on 19 December, 2014
Yes it was x2…:)
Give my best to your better half, your two peas in pod…:)
Keep the Faith!
Hail Hail!
gerryfaethebrig
Mate if I posted on here what I need to deal with on a daily basis it would turn most on here’s head’s grey.
The weans, God Bless them, have a resilience that will stand them in good stead.
I’ll do everything I can to help that journey.
doc
21:26 on 19 December, 2014
Did I tell you all today that I finished last night at 16:00, sorry meant to…:)
Keep the Faith!
Hail Hail!
Re whisky – I’ve been given a bottle of Tobermory 10 year old – anyone tried it?
Is it a keeper, or does it get re-wrapped for the next 40th I go to !!
Petec
If you need tickets I’ll do my best pal.
It’s a Celtic thing, and you’re a Celt.
BT
Cool
See you Sunday. In Jura for the new year, We’ll have to send smoke signals so you can give me an update of the game.
Doc
Paddybhoy hopes its a snow shovel :-)
Night bhoys n ghirls
hail hail
and like TB and lennybhoy I always KTF..,
we have a faith to keep.
we keep our faith and stand strong for our faith..
Celtic is last in my life, Faith family and football. .,
guess what. Ima true strong Catholic Blantyre man
HT
less of the grey hair thing.
you wouldn’t change it for a minute .
HH
I think Albert was a knightwood man.
He was a top class engineer, sadly those skills are getting lost to us.
Only being a pup at the time, even I noticed the esteem he was held in.
Sorry,
DD, that was for you mate.
LennyBhoy, I must have missed that mhate.
CowieBhoy, Paddybhoy, or BJMac, might want to bury me with it!
Good fun this afternoon.
Thanks for Lunch BJMac.
Petec
Have you finished work for Christmas?
We need a festive meet!
Burghbhoy
my dad is a Celtic fan, he goes home and away and stays strong to his beliefs, he won’t sell his soul to Celtic or the media .
he is a fan…
Sipsini
I think he was a Whitecrook Rebel. My Uncle John adored Albert.
The English Premiership and the English Championship have adopted UEFA`s Financial Fair Play (FFP) rules.
The SPFL has not.
How many clubs in Scotland can you think of who benefit from there being no FFP here? Every other club seems to be living within its means…..except Sevco 5088.
As usual the rules are bent to suit them.
BT
God bless JF
hamiltontim
21:28 on 19 December, 2014
Hats off to the guys who run the buses, the work you’s do behind the scenes is unbelievable, you can also do miracles when needed the boy who runs our bus is the same, we got on the plane to Turin 4 tickets short ( out of 20) and when we landed we had 2 spare haha as I say miracle workers HH
Is mark hately trying to out-sleekit the grand master of sleekitness with the quizzing of players about the training methods at Murray Park ? (is it still called Murray park?)
Great result for Lenny’s Bolton tonight.
And a nice wee lift for me @ 13/5 >}
HH
Bolton win away at Meelwawl. Tough place to go.
Good result for Lenny. Well done.
Another good result for my namesake, Millwall 0 Bolton 1 and I backed them at 12/5
Keep the Faith!
Hail Hail!