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Ashley fait accompli

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By on CQN BLOG & Comments

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.

Still time to order Caesar & the Assassin, the 2015 CQN Annual, with or without bundle, or anything else from the vast array of Celtic books and DVDs in time for Christmas post, but you don’t have long……

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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  1. Gerryfaethebrig on

    ulster-celt

     

     

    23:00 on 19 December, 2014

     

    I wonder how far Neil Lennon could have taken Celtic football club if we had a different chief executive.?

     

     

    I wonder how far Neil could have taken CFC if around 80% of the country he resided in didn’t hate him….. Neil Lennon gave up money to come here, Neil lived the dream, Neil is a Celtic legend and finally good luck with Bolton Neil, I am quite sure even Millwall fans didn’t think about attacking him tonight just because he was the manager of the opposing team.

     

     

    Good night & God bless, most of us will wake up Celtic fans tomorrow, I know I will

  2. Cowiebhoy on

    Cards oan the table for me then

     

     

    I hope that lowlife mob, never ever darken Oor doorstep again, ever

     

     

    Their not missed from my seat

     

     

    Hail Hail and night night

  9. marspapa on

    gerryfaethebrig

     

     

    As BT and TBM will testify , the night improves as soon as i leave :))

     

     

    You”ll get a warm welcome ;))

     

     

    G/nite take care .

  10. butsybhoy on

    BXG

     

     

    Before that .NO THE GUYS BELOW

     

     

    GK 1 Scotland Ronnie Simpson

     

    RB 2 Scotland Jim Craig

     

    CB 5 Scotland Billy McNeill (c)

     

    CB 6 Scotland John Clark

     

    LB 3 Scotland Tommy Gemmell

     

    CM 4 Scotland Bobby Murdoch

     

    CM 10 Scotland Bertie Auld

     

    RF 7 Scotland Jimmy Johnstone

     

    CF 8 Scotland Willie Wallace

     

    CF 9 Scotland Stevie Chalmers

     

    LF 11 Scotland Bobby Lennox

     

    Manager:

     

    Scotland Jock Stein

     

     

    dont get me wrong King Kenny was one of my gang..i to was sad when he left even dogged school to see him in liverpool.in the cop with my celtic scarf .

     

     

    Still legends

     

     

    HH

  11. Gordon64 on

    A huge match against Inter to look forward to.

     

    Top of the league and a good chance in both

     

    domestic cup competitions.

     

    What’s not to like.

  12. BGX on

    Butsybhoy…no arguement…legends ..yes…but see them as men…Mcneil was my hero at school..we share the same name…auld came from about 1/2 mile from where i grew up..my uncles played football with him…i love what they did for our club…but i support Celtic…and what i perceive to be our clubs values….individuals come and go….the Club..remains…godwilling..

     

    .

  13. emusanorphan on

    I hope Mike remembers to buy the history of the deed club. Charles of Normandy reiterated that he had purchased their history.

     

    Strange given it was the same club he was buying. You’d have thought he’d have known what he was buying.

     

    I tried to buy my wife a Samsung 50″ Smart TV for Christmas but I got an Irish Setter Pup.instead. Clearly I’m not as prudent a businessman as Minty, CraigyBhoy or Charles.

  14. butsybhoy on

    When asked one time to reflect on John Fallon as a keeper Bertie Auld (again at the wind-up) came away with the line:

     

    “John Fallon is the only goalkeeper I know who uses the nets to stop the ball”!!!!

     

     

    Ouch!!! It was well seen they were good friends.

     

     

    Feckin Legend

  16. THE EXILED TIM on

    Emu

     

     

    Have you really bot an Irish setter ?

     

     

    If you have, you have a couple of years of pure manicness, they are magic dugs withoot a brain till they are 2 at least >}

     

     

    HH

  18. Gordon64 on

    Just heard that the best Celtic supporter

     

    i know has got home from hospital.

     

    He has traveled the world supporting Celtic.

     

    I’m so glad he is home for Christmas.

  19. butsybhoy on

    BGX

     

     

    SORRY if i came on that way!!!!!!!!! but iam a wee bit older than you..

     

     

    .

     

    Uncle /dad/mother/sister/cousins/and ME knew BERTIE

     

     

    He still a legend

     

     

    Maryhill Valley.

  22. setting free the bears for Res. 12 & Oscar Knox on

    Ex players will let you down when they stop being players. We worship them because of what they do on the park. Anything else is a bonus. Tommy Burns set a high bar as an ex-Celtic man but I don’t think Tommy would have declared a wish for Rangers to disappear altogether.

     

     

    I am aware that a couple of Lions declared as No voters during the recent referendum. I doubt that influenced a single vote.

     

     

    I am sure there are plenty of ex-Celts who were for the Yes Vote. Whoever they are or were, they are not diminished one jot in my eyes. In fact, I could not care less.

     

     

    Hell, we worshipped Di Canio and he had some very dubious politics.

     

     

    Every ex-Player lived the dream, whether they voted Yes, No or Mibbes Aye Mibbes Naw.

  26. jamesgang on

    Good night Timdom.

     

     

    Interesting reading back.

     

     

    BT. You’re a lucky Bhoy to be able to be so proud of your Dad. I feel the same about mine. Not everyone is so fortunate.

     

     

    HH jamesgang

  29. topkat on

    Roy Croppie 23.20…….yes beautiful picture….with the big man in the middle…..how they despised him…..always in his shadow…….tin legs blew 83 million still never got a sniff……they dreamt the dream

  30. long haired yins man on

    Just finished work tonight after a hellish December and that’s me until 5th January. First time ever been off across the festive period. Anyways as pre-mentioned December nightmare tonight was a good opportunity to uncoil the springs and needed a good guffaw….

     

    Stuck on DVD with sadly missed Rik Mayall and mate Ade in Bottom. My ten year old son never seen this type of slapstick before….bhoy did we both laugh….Remember the show were they had Xmas dinner when the baby landed on their doorstep…gold, Frankenstein and grrrrr…!

     

    Never laughed so much in months, RIP Rik Mayall…..

  31. butsybhoy on

    setting free the bears for Res. 12 & Oscar Knox

     

     

    to live that dream iam flying flying

     

     

    and an no sumerman

     

     

    51 still dreaming that … the other night i scored a flying header against the monkeyes.

  34. Margaret McGill on

    Reading this blog, others and the news let me summarize what I’ve learned today in my 7 way agreement

     

     

    1. The huns urny deid yet

     

    2. Super Sally is still their manager until further notice

     

    3. The SFA are making token gestures on behalf of others to reclaim £250,000 from zombie plc.

     

    4. Celtic have abandoned supporting Tonev’s word against some black c**t ….come on… If Tonev is right then he is a black c**t. Being a black c**t myself I know these things

     

    5. Celtic PLC were instrumental in the 5 way agreement. Not really news there. I know our custodians are charlatans

     

    6. Many of the huns GIRFUY 55% Celtic supporters support our board when their mantra is huns GIRFDY get it right f••king doon ya! ( bearing in mind not to use the f word there could be kids reading… Fat chance! They’d be bored oot their minds)

     

    7. Our club are a PLC and are only interested in making money via their own bonuses ….Moral political and ethical decision making expected of the Celtic support are not expected of our royal highness

     

     

    So all in all a no news day!

     

    GIRFU Yeez!

  35. butsybhoy on

    Margaret McGill

     

    00:05 on

     

    20 December, 2014

     

    Last time I had a fait accompli

     

     

    it was in a grave yard

  41. Turkeybhoy on

    lilys grandpa

     

    22:55 on

     

    19 December, 2014

     

    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

     

     

    Knew Dixie quite well when he had “The Cats Eyes”in Bailieston.He never liked the nickname Dixie.Always preferred John.Went to a load of games did the wee man.

  42. Thindimebhoy on

    History up for sale and transferable ……….

     

     

    Like everything else these day

     

     

    planetearthisaweeballinspace csc

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