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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THINK THE DRINK IS KICKING IT
BLACK ——
Friday. hehe
MattE
Just conversed with emus.
Both of us wish we could be with you
on Sunday.
HH
aye rik mayall, the world best big bottomed anarchist
good night timland
hh
Will be phoning the DundeePolis to look oot fora trail of pish emanating from a hired minibus wi an Irish flag wi a Portugese pubs name on it
Happy Friday from Kentucky. 7:30pm and two days to Scotland and a tasty wee Southern Tier IPA at hand.
Happy days.
butsybhoy
23:37 on
19 December, 2014
Love that, good stuff.
THE EXILED TIM
23:46 on
19 December, 2014
I’ve got a new one as well, well he’s two now but still a pup. Not a setter, some crazy cross farm dog type. He’s mental, sharp as a tack and a good wee dog but a proper hyper psycho. I think he’s too smart. He did consume my wife’s Emily Dickenson book last week and that seems to have made him a bit more melancholic.
setting free the bears for Res. 12 & Oscar Knox
23:52 on
19 December, 2014
Di Canio and Ferguson was one of the best handbags ever.
Looks like Sally is walking again, must have been squared up!
International cooperation at its finest!
Add the leftover Pakora fae SMB’s works night out! A smellier supporters bus has never been smelt!
Sorry can’t do the link from My daughters facebook, on the DR.
emusanorphan
00:36 on 20 December, 2014
International cooperation at its finest!
Add the leftover Pakora fae SMB’s works night out! A smellier supporters bus has never been smelt!
Thats before we climb on board!
Were ye minced on the train?
gordon64
00:29 on 20 December, 2014
MattE
Just conversed with emus.
Both of us wish we could be with you
on Sunday.
HH
Dunno who I’ll miss most there….
Hope you are good big man
The Old Firm is dead
You can not resurrect it
It will never be the same the world has moved on
When they died so did the OF
History is non transferable
theearthisround csc
True story. Wean was totally Abraham Lincoln. Haudyer nose stuff. Poor wean hidnae seen hot water or soap for a few weeks.
Decision taken tae send her name fae school due to hygiene issues.
An hour later Ma appears wi wean at school office demanding tae see Heedy. “Haw you!”, she shouts, “ma wean ishere tae be tellt no tae be smelt”!
Aipple
I have 4 sitting at my feet as I type, the other 4 are elsewhere, was always a one dog man till I came here, feck knows what came over me, well the Mrs did, well she didn’t, if you know what I mean >}
It’s hard enough to control a pack, have to take them out in smaller bits, as a pack they take over when we are out on the campo, no matter how hard you try.
You enjoy your pup, they are truly mans best friend.
HH
How much utter garbage can the Scottish media spout
in support of AM ?
It has been so sad and predictable.
Long may there nonsense continue.
TET,
Cats are not bad aswel :)
Matte
I partook of a 37.5 ml Concha Y Toro on the Euston bound train when said service pulled into Wigan.
I wanted to blot the image from my memory.
MattE
Enjoy Sunday amigo.
HH.
BT
Its been tough for you friend. Glad there’s some light at the end of the tunnel; and no, it not an oncoming train.
GetbackintheprogramCSC
Some good finishing from griffiths against sunderland.
Espcially liked our first goal.. 3/4players pressing the sunderland boys .
Stuck in Scotland
Waiting for them to come back
For what
More of the same pis*
Like it is a tradition we can not do without
How quaint
The trouble is
Closing down borders and opportunities gives us less options
Ah well then OF Mk2 it is then
We miss the rivalry and it is all we have got
iveseennessie csc
TET
No chance on IS pup! (Oops that might’ve triggered MI5 investigation)
We had an Irish Setter . Norgem Indian Summer was his Kennel name. We renamed him Packie after an Irishman close to our hearts. He lived til he was 11. Cracking big dug. Think he calmed doon at 10 & 3/4.
THE EXILED TIM
00:44 on
20 December, 2014
True story my good man. We’d have more but they’d kill my back garden! With him, the cat and the parrot, I’ve got some of the food chain covered. Don’t know how you manage the pack, friends have 3 labs and that is a handful.
Lost ma big soldier Benny a couple of years back. Guess what I had to give into for my new dogs name? Cooper. I jest not. I tried and tried but she was grieving Benny and was insisting on Cooper. I had to give in. Cooper has my back like you wouldn’t believe though, only 60lbs, thinks he’s 120. We got broken into when he was a pup and he couldn’t do anything. Now he’s all carrying a baseball bat to the front door if someone walks by the house, I think he’s over compensating for the break in episode. Should take him to one of these ‘Merican dog shrinks.
Ross County next Saturday, first game in a while man.
Man’s best friend indeed.
Kitalba glad your back with your family have a great time and cherish it. JK sends his thanks
Aipple where are you in KY I visit Louisville often and have never managed to see a celtic match while there
emusanorphan
00:58 on
20 December, 20
10 & 3/4, nice.
Good Morning Timland.
Back fae a night out wae some ole work mates,so whit’s the chat?
AM refuses to say why he has resigned.
After spending millions AMs team are miles behind
in the league.
AMs teams have been knocked out out of every
cup competition that they have been allowed to enter (14).
AM is one of the main players in taking his club towards
oblivion.
For that i commend him.
The Bhoy from the Village
01:05 on
20 December, 2014
My laptop, monitor, hoose and Louisville mate. Been here 10 yrs now. Few tim joints here with some good Irish folk, not too many Scots though. Fox HD1 carries the games. So regular cable and sat have it on the sports package. I’ve been trying to jump back on CQN during games I watch, did so back in the day with Celtic TV.
What brings you to the ‘Ville?
Gordon64………history will not be kind to sleekit,hey even
hun history will not be kind to sleekit.
Peter Greene oh well
http://m.youtube.com/watch?v=8dZ0No5EG5k
HH
Aipple business trips to a supplier (Arvato) their at commerce creek normally stay on first st hotels handy for the 4th st biz. If your at Ross Cty match I will say hello before kick of
The nightshift seems to be more vibrant when you read
back in the morning.
The Ville is a cool town I love visiting the highlands of an evening
Where are all the high end elitist intellectuals?
Nye
History will not be kind to any of those who were part of dave murrays tenure.
Hh
Re-reading the five ways fcuk you agreement perhaps.
What is the price of honour when you are a lame duck ? .loads of money of course
Awnawed, original quote at link
Ally McCoist hits out at fans who accused the Rangers manager of being greedy
I can understand the opinion of those who say go now, of course I can, and I respect it,’ he said. ‘But I have got a contract to honour and it is worth a lot of money to me and I ain’t walking away from this contract – it’s not the right thing to do. The bottom line is, until someone tells me otherwise and pays me off, I’ve got a contract I want to honour.’
http://www.dailymail.co.uk/sport/football/article-2881370/Ally-McCoist-hits-fans-accused-Rangers-manager-greedy.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490
There was one player for me who epitomised Celtic
and that was Bobby Murdoch.