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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Back in efter taking the dug oot in the pissin rain
Whithivamissed
BT, keep the faith Bhud :-)
Hail Hail
Bgx
have u ever met ur hero so who is he/her
justasking
gerryfaethebrig
22:43 on 19 December, 2014
And you get a good pint of Guinness in the KOSC in Coatbridge.
Keep the Faith!
Hail Hail!
BGX
I’ve read your posts for a while mate.
Most guys on here are polite, considerate and thoughtful.
Please God I’ve been brought up the same but I still think you’re a troll.
Fanad
i will never go..
i am a cqn eejit
i am here because of p67 and m42..
p67 knows i don’t read and agree with his points…
like kitalba we shall not be moved…
Lennybhoy
Does It do Magners or Bulmers :-)
Hamiltontim 2222-
Cheers! I find that I`m getting more annoyed by some things/posts that I see which is probably why I post more these days. But then no doubt my posts annoy plenty of folk too, that’s opinions for you!
Gerryfaethebrig 2224-
Agreed, I`ve tried not to come across as having a go at anyone in these posts and I know its not easy for former players to come out in the SMSM and speak to the truth on Sevco, media work dries up if they don’t toe the party line and there`s the hassle they`d get in the street. But they can just as easily refuse to be drawn on bumming Sevco up, there`s no need to give it to us tight and to be perfectly fair to Joe last night his words were his alone, it wasn`t a print media story where some hun loving hack ran a twisted or distorted article that took his quotes out of context.
the glorious balance sheet
No I’d rather not. I had no reason to read those features before you dug them up to back up a ludiscious statement you made.
I read then when you posted them and realised what you’d done but even if I had read them it would have made no difference.
My reply to you last night that has been quoted tonight stated that for me it is about Celtic 100% Celtic – nothing to do with them.
All the players I have spoken to except Yogi share the view you got told Joe a Miller said. I’m not giving up on the Lions – and all the ones on the park that are atill with us hold this view – the McStays, the Quality Street Gang and others just because as ex- players they have a different view to you (and me) on this.
I offered to bring Joe Miller on the blog to discuss the matter with you.
No one said CQN was Celtic – we are collectively a part of Celtic. There will be supporters who do want them back and miss or have never experienced the thrill in beating them or the sick in the pit of your stomach when losing. They have their own right to their opinion – I told you last night to me Celtic first, last and overall.
Hope you have a nice weekend.
BT
If TBM got picked up from church would he get in time for the second half
John Fallon was Celtic man through and through who gave his all during his time at Parkhead and was appreciated greatly by the Celtic fans of that era. He can still be seen at Parkhead following his beloved Celtic.
Bgx u for real
HH
I said ..thank explayers for their service and move on….imo too many people look at explayers and expect them to be some kind of gods…they are not…they are men…some good.some bad…some love the club..some played for money…they are just men…thank them ,move on…support Deila…Brown…Guidetti…
Hamilton tim…coz i think differently….coz i see it as it is….scroll on…
gerryfaethebrig
Twas a joke mate ,
BT used to work behind the bar ;))
winning captains
22:20
Honestly not wishing to get get involved in your debate with the glorious balance sheet.
I do wonder though if some, or indeed any, of our former players are aware of the extent of the cheating that went on under Murray. I’m not just on about the EBT’s/Dos schemes here. I mean the use of the MIH bank lendings to support RFC(IL) which was never paid back.
I have always had the impression that most ex players got their information from the press and as such they will be as informed as your normal hun re the real story of Murray etc.
Also have you ever questioned any players that around the time of Gascoin, laudrup, Hately etc. It would be interesting if they had heard any stories of how they being paid as I once read a Hately story in the Record where he stated in his defence of Minty that without offshore accounts RFC(IL) would never had seen players like those mentioned previously.
Just a few thoughts that sprung to mind when I read your exchanges :)
blantyretim is praying for the Knox family
22.34,
Evening all,
See what you were saying about Dixie Deans there, I was talking to a guy recently, in the pub, who told me the same thing.I never believed him, need to apologize……,what’s the idea behind that?
lilys
Bhustybhoy….heroes are for children….
https://pbs.twimg.com/media/B413fdsIcAEA_9M.jpg:large
I was lucky enough to watch the Legia match earlier this year in the company of John Fallon. He’s forgotten more than I know about football although BT will give him a good argument, I’m too much in awe.
Some time heroes disappoint, he doesn’t. Celtic to the core.
LegendCSC
BT,
I wish I could have the claim to fame my dad played for Celtic in those glorious days.
Keep your chin up mate, you will soon be back to work and normality will kick in.HH
cowiebhoy
22:48 on 19 December, 2014
Unlike the Hostelry I was in before you picked me up, it sells Magners…:)
Keep the Faith!
Hail Hail!
Guees what
ive been sitting on the couch for 4 months, it’s not easy but i try to be the easy daft BT .
some of you bhoys have make if worth it but its been hard without the meds.
I try to be daft BT but I’ve now decided it’s time for me go get out?
love you cqn, hate the trolls
have a great Christmas
Winning Captains 2250-
And as I posted to you last night, I am happy to put the points I made to Joe Miller directly to him on CQN should you bring him on the site.
But my beef is not with Joe Miller thinking the way he does; my point is that the blog is not what it once was given that it has gone from having an editorial line of being against lazy journalism and against the cheating of Rangers to being a medium to sell books promoted by purveyors of lazy journalism who miss Rangers. There is a contradiction there and that’s not Joe Miller`s fault; he hasn`t to my knowledge gone on about lazy journalism and being better than that.
I hope you have a good weekend too.
I wonder how far Neil Lennon could have taken Celtic football club if we had a different chief executive.?
Lennybhoy…
The Columba Club sponsored our Saturday morning team about 10yrs ago, used to drink in it every Saturday afternoon from 1pm-5pm (had to be home after the results or would have ended up in the Big Apple) the day the Huns beat us 3-2 in the Scottish Cup final, we scored 1st think big Hartson then that rat Lovenkrands scored the winner, our amateur team lost a cup final that morning at the junior park at Tollcross, one of the worst fitba days in my life…..
eddieinkirkmichael
I have asked them all about referees. They know that there was no level playing field.
Unless you have followed the story closely you can pretty much get lost re the Sevco plot. Craig Whyte was right when he says that outside Scotland no-one cares.
Most people in Scotland don’t care either. I see them wallowing in the misery of their afterlife pretending they are something they aren’t. Enjoy it but don’t let it get in the way of our Celtic.
So wee Ally is leaving because of his family, to spend more time with them, aye ok Ally, whit a muppet!!
the glorious balance sheet
Then address these points to Paul – celticquicknews@gmail.com
He writes what he wants with no influence from any of us!
Until we meet again…
Keep the Faith!
Hail Hail!
Big Billy starts the ball rolling
https://pbs.twimg.com/media/B5P8zBIIAAIIjs3.jpg:large
HH
Marspapa
Am new to the blog but got the BT reference re the KOSC, I had just mentioned over the years I have drank in Blantir I have yet to venture in there
Cheers
Ulster-Celt
Nail on the head mi amigo
HH
https://pbs.twimg.com/media/B5P4N-2IIAEixi7.jpg:large
Taking over debt-dome
HH
bgx
Well iam that big kid ..
In the Desert with two of my heroes .minutes past, hours past by, talking CELTIC CELTIC
few laughs and tears.but DONT forget who they are .LEGENDS HEROES
Well mine anyway.
God Bless the LIONS
BGX
22:54 on
19 December, 2014
Hamilton tim…coz i think differently….coz i see it as it is….scroll on…
—————————
No mate I enjoy reading your pish.
A big shout to my old amigo Emusanorphan.
HH amigo.
HT
Wat u like think that should read BMX
Butsybhoy…good for you….my hero worshiping ended when dalglish left us for liverpool..after that i grew up…
Who needs a roof when you’re winning…
https://pbs.twimg.com/media/B5P1A3oIQAEKe85.jpg:large
HH
Hamiltontim…mmm…maybe you should see someone about that….