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Ashley fait accompli

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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. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    tonydonnelly67

     

     

    08:23 on 20 December, 2014

     

     

    Awe, God bless your wee Ma …… ma wee Ma liked her dr as well …….

  2. Top of the morning to you all from Fife.

     

     

    Tontine Tim

     

    The OF game in aid of The Lord Provost’s Ibrox Disaster Fund raised a lot of money which Rangers’ QC argued should be used as part of the award of damages against the club.

     

     

    Sheriff Irvine Smith rejected this claim and Rangers lodged an appeal against his decision but later withdrew it.

     

     

    No newspapers condemned this despicable act.

  3. So you all know who to support (or not) today 2 wee items for you –

     

     

    1. The FINAL of Last Man Standing 2 (unless it goes to a replay)

     

    Partick Thistle, picked by Penfold

     

    v

     

    St Johnstone, chosen by Jammabhoy

     

     

    2. The Ole CQN Coupon

     

    This weeks picks are –

     

    Jobo Baldie- Partick

     

    Lennybhoy – Swindon

     

    Blantyretim – Wycombe

     

    PFAyr – Bournemouth

     

    Greenlion2 – Plymouth

     

    Awalkacrosstherooftops – West Ham

     

    Pogmathonyahun – AFC Wimbledon

     

    The Token Tim – Yeovil

  4. big nan

     

     

    08:32 on 20 December, 2014

     

    Top of the morning to you all from Fife.

     

     

    Tontine Tim

     

    The OF game in aid of The Lord Provost’s Ibrox Disaster Fund raised a lot of money which Rangers’ QC argued should be used as part of the award of damages against the club.

     

     

    Sheriff Irvine Smith rejected this claim and Rangers lodged an appeal against his decision but later withdrew it.

     

     

    No newspapers condemned this despicable act.l

     

     

    Oh yes this is the shit they got up to and are still up to, but back then no internet, just paranoid Tims, good bless the Timternet.

  5. ....PFayr supports WeeOscar on

    Big Nan

     

     

    I read Irvine Smiths book ..he clearly wasn’t very enamoured with RFC in that case

     

     

    Their behaviour was despicable …the lack of reporting was worse

     

     

    IMO …that and much like it contributed to their sense of superiority which ultimately led to their demise

     

     

    It would appear that Sevco inherited said sense …their demise is nigh ..

  6. 67heaven

     

     

    Willie Johnstone wasn’t the worst out of that lot .

     

     

    Alex Miller and Alex acDonald were particularly gruesome .

     

     

    The ball was an irrelevance for them .

     

     

    My older brother played for the wee Rovers against them in a league cup tie in the late 70s .

     

     

    He is scathing of both these neanderthals .

  7. Big Nan

     

     

     

     

    08:32 on

     

     

    20 December, 2014

     

     

     

     

    Top of the morning to you all from Fife.

     

     

    Tontine Tim

     

    The OF game in aid of The Lord Provost’s Ibrox Disaster Fund raised a lot of money which Rangers’ QC argued should be used as part of the award of damages against the club.

     

     

    Sheriff Irvine Smith rejected this claim and Rangers lodged an appeal against his decision but later withdrew it.

     

     

    No newspapers condemned this despicable act.

     

     

    *didnae know that…another secret that they failed to share

  8. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    Morning all.

     

     

    Just up,fresh for a good day ahead.

     

     

    First post I read has LENNYBHOY putting the mockers on my local team.

     

     

    Oh well,saves me doing it!

     

     

    Offski to batter seven shades out the bookies-for a change-and out a barrel of Guinness-as usual.

  9. Fred Colon

     

     

     

     

    08:54 on

     

     

    20 December, 2014

     

     

     

     

    67heaven

     

     

    Willie Johnstone wasn’t the worst out of that lot .

     

     

    Alex Miller and Alex acDonald were particularly gruesome .

     

     

    *I was at Clydebank Tech the same time as miller….his classmates had no time for him…big heided was a common remark…..doddie was just another ned.

  10. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    This is the life……..stirring my porridge whilst reading CQN …. :)

  11. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    tontine tim

     

     

    08:57 on 20 December, 2014

     

    Fred Colon

     

     

    08:54 on

     

     

    20 December, 2014

     

     

    67heaven

     

     

    Willie Johnstone wasn’t the worst out of that lot .

     

     

    Alex Miller and Alex acDonald were particularly gruesome .

     

     

    >>>>>

     

     

    It’s a cultural thing……BUT OUR DAY CAME ……HH

  12. Watching Alex Miller and Alex McDonald was like watching Frank Miller’s sin city … which was on last night

  13. Going to post office shortly to send another few bags full of CQN Annuals on their way to Celts.

     

     

    If anyone wants one posted first class this morning go to http://www.cqnbookstore.com

     

     

    The CQN Annual is also available at all Celtic stores – while stocks last – and in Glasgow at both Calton Books and Timland across from Barrowlands.

  14. Fred Colon

     

     

    To put a wee smile on your brothers face, Alex Miller ran an ice cream van around area I grew up in. Every night for God knows how long about 15 of us would dance round and round the van signing ’10 men won the league, na na na na na …’

     

     

    Oh he was bloody raging

  15. Taranis

     

     

    My brother was a winger … that was like wearing a target on your back when Miller and MacDonald were on the park .

  16. Pogmathonyahun aka Laird of the Smiles on

    Jobo and fred colon, there must be something in the air as I had the same horrible thought

  17. Pog –

     

     

    meant to acknowledge your 2nd garden festival photo on last page – a cracker and certainly did look like ole BSR to me ;-)

  18. Pogmathonyahun aka Laird of the Smiles

     

    09:18 on

     

    20 December, 2014

     

     

    Jobo and fred colon, there must be something in the air as I had the same horrible thought

     

    —————————————————

     

    I just want ti make clear that I have ABSALOOTLY no idea what you guys are talking about. “Pinhead or rolled” was my first thouht…

  19. Fred Colon

     

    09:46 on

     

    20 December, 2014

     

    Knatknow

     

     

    You’re obviously a clean living boy .

     

     

    Our minds are in the sewer .

     

    —————————————————-

     

    :-)))

  20. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    jobo baldie

     

     

    09:09 on 20 December, 2014

     

     

     

    Hahahahahahaha…. :) ….HH

  21. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    pogmathonyahun aka laird of the smiles

     

     

    09:22 on 20 December, 2014

     

     

    Hahahaha…BRILLIANT …..but he’s better looking than me…..cripes, even you’re better looking than me …..hahahahahahaha

  22. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    jobo baldie

     

     

    09:48 on 20 December, 2014

     

     

    Sun now splitting the skies ;-)

     

     

    >>>>>>>>>>>

     

     

    I knew you were an alien…… :)

  23. stringer bell

     

     

    07:55 on 20 December, 2014

     

     

    That would never happen now a days, to many yahoos on both sides HH

  24. Captain Beefheart on

    Gooooood morrrrrnnnniinnnggg CQN.

     

     

    The old huns were lower than a midget’s self esteem. Who cares now though? They were liquidated. Old Firm no more.

  25. Does anyone remember the cartoon strip Bristow by Frank Dickens ?

     

     

    Bristow was an office worker and used to refer to the great tea trolley disaster of 67 .

     

     

    I’m wondering if future cqnrs will refer back to 67heaven and the great porridge scandal of 2014

  26. petec

     

    spooky :))

     

    Got sent this text 5 mins ago

     

    “Wherever you go,no matter the weather ,always bring your own sunshine”.

     

     

    Ps GOOOOOOOOOOOOOOOOOD MORNING all

     

    BMCUW

     

    Have a great day

  27. PJBhoyNYC:

     

     

    I remember the day like it was only yesterday, what a slime the slug brought to here.

     

     

    That was the first of his many dummy spits.

     

     

    If you don’t have them on record… I do.

     

     

    And all of his incarnations before and since and one or two yet to be disclosed.

     

     

    But hey! live with it man Paul67 does, here it does not matter about lazy journalism and anti-Celtic spin, here is where some agenda driven sycho’s sharpen their teeth.

     

     

    But maybe not all remember that or understand.

     

     

    Maybe I should introduce maself as a noobie who dosnae no how to spell and pretend I’m no who um am not nos wit it iz aw aboot.

     

     

    Member Fraz(sic) Kaffka, member the Prince foreskin, member that pull all yes plonkers santaram, member Edmund from the bush, member all those posters that nobody had ever met and never will who hated Celtic, member chop Neil Lennons head off and bring it to me on a plate, member that tube from south London, (I’d love to meet that wanker) how to destroy a guid thing

     

     

    Make yer own narcissism bigger than all the collective good, just to shine a light on a liar. A self confessed liar who’ll never walk into any Celtic company without noing that 1/2 of the company think him a liar and the other 1/2 knows.

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