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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Recently Burgas Hoops, I think, posted that the Bulgarian FA had said they were disappointed Aston Villa had not done more for Alexander Tonev after the verdict of the “kangaroo court” their words. Celtic were praised for their efforts. It seems it’s only Celtic supporters who think we did anything wrong. Funny that not!
Kitalba
Your Jeanette’s love child ?
TinyTim @ 10.48hrs.
:-)
HH.
NegAnon2
I just think it’s a fine balance mate, we will do what’s required to win the league . The cups are a bit of a lottery as we all know, cup games through up shockers all round Europe not just in Scotland. Bringing in a new guy with modern ideas ( not Celtic ingrained ideas) may just may start to bear fruit. For the 1st time in my life I think ? we are in 4 competitions after Christmas. Couple of young guys knockin on the managers door for a starting slot in 1st team. A wee healthy profit (stand alone proof). Look at it as a wee war chest for the future.
Kitalba
You copy my posts? Wow! That’s scary.
Green pinta once again irony (or should I call it cognitive dissonance?) is alaive and well and living at CP. The tonev debacle is yet another example of our willingness to play the victim. In England a tweet ip results in a one match ban, in Scotland someones word and no evidence results in a seven match ban. Only if it’s celtic mind. And our custodians? Well that’s just part and parcel of the game in Scotland. Celtics place in the world is to accept this and to pretend to fight against it. All designed to loosen your wallet.
After all celtics engagement with the 5 way agreement proves that we collude in that rigged game. Does it not?
Exslaemuirbhoy I didn’t realise celtic were a bank or savings institute? What’s the, ahem, war chest for?
Send in the Clowns
http://youtu.be/vZ0MO2dQUkY
Tiny Tim
Great post!
My old Dad told me often that there is some good in everyone.
Maybe he was right.
Celtic where involved in the 5 way seceret agreement with the SFA and Sevco?
I would like to see that evidence, accusers please show?
NegAnon2:
Let me allow you into a wee secret of mine… shhhhhhhhhhhhhhh! now don’t tell another living soul… okay!
Here we go:
Mate I know it is Saturday night and my Chapel is not open for confessions but I do feel the need to get something off my chest…
See posters like him… yeah him, I don’t ever actually read a word they say………..
I see their name addressing me and I just know everything that follows is shite, so without even reading their shite I respond and then away they go and wast another precious half hour of their lives.
And all those half hours add up and all his mates in the pub in the Gorbals think what a twat he is and it is his round and too.
Now mate I like your courage but that is the only time I’m going to ever waste another breath of mine on a saddo like him who so readily abuses other humans for effect.
Then decries others for doing likewise.
What is it the uni students cry… Oh my God, they killed Kenny!
tonydonnelly67 1049-
I notice that you had a bitch at the Daily Record on here this morning for printing the McCoist Q&A – the implication being its all the usual pro-Sevco fare from the horrible establishment that is so against us.
I merely pointed out an uncomfortable fact for you – it does the same thing for certain Celtic employees in certain circumstances.
The post is not a dig at Peter Lawell or Ally McCoist of itself – it is a dig at the sycophantic crap that comes out the Daily Record whatever the source. If people like McCoist or Peter Lawwell want to feed that propaganda machine to get their message out, well if you lie down with a dog you get fleas.
My post was balanced unlike anything that you come out with on here.
Congratulations also for using three commas in your post to me. You must have reached your 15,000th post on here (approximately 14,999 of which have featured digs at the Green Brigade and/or Janette Findlay yet you take umbrage at someone you perceive as having a dig at Peter Lawwell – go figure) and you`ve finally found the comma button. Well done. Next, have a stab at a full stop button.
I signed up to the five-way-agreement
signed
Peter?
Any news on guidettis injury?
Cheers.
NegAnon2
The club are a PLC , not a bank or savings institute, the wee war chest is to ensure we have a Celtic to go and watch every other week. If you would prefer the figures to be in the red then that will lead to tears. Just ask any hun.
Don’t get me wrong . I want to see the best players available in the Hoops. There is a ceiling though, for now .
No credibility
Oh you’ve no credibility
No credibility
you’ve no credibility
No credibility
Oh you’ve no credibility
No credibility
you’ve no credibility
No credibility
Oh you’ve no credibility
No credibility
you’ve no credibility
No credibility
Oh you’ve no credibility
No credibility
you’ve no credibility
The glorious balance sheet. As time goes on we begin to realise that celtic supporters are being conned (it’s already clear to rangers supporters that they have been and are being conned). Comparing those articles is insightful. The leading questions remarkable and the style of reporting is a fawning.
The game in Scotland is clearly rigged and it is rigged ina way to maintain sectarianism because it’s good for business. It strikes me that the majority on this site and others don’t want to face that ugly truth. But it is staring us in the face.
Feck I’m really bored with all these hun blogs, wit(sic (French)) chance a Celtic blog about how we’re moving to the front of the bus, or maybe who ties VVD boot laces at least.
See posters like him… yeah him, I don’t ever actually read a word they say………..
Hahahaha, I we saw that, you just copy them away yi go YA battery licker, hahahaha
Exslaemuirbhoy. I would like us to show ambition and try to build a team. I am not expecting us to go into the red nor have I ever called for that. Celtics so called strategy is simply to buy players cheap and hope to make a profit. There is no team building, no ambition, nothing. And we don’t even know why we want to make a profit either. PL has sneakily changed his language from we will invest every penny into the team to every penny into the club. Sneaky huh!
No ambition, no interest in football, no interest in looking after supporters just gies your money.
Wee Tony. Battery lickers is your latest isn’t it? Awwwwwwww it’s so clever of you. Bless.
Och! well since it is a hun thread…
2.3.2 RFC, Sevco and Rangers FC irrevocably renounce, waive, release and discharge any right and/or entitlement to any unpaid Fees and any other sums due or to become due howsoever arising, including without prejudice to the foregoing generality, in respect of or related to season 2011/12 and earlier seasons and whether under and in terms of the SPL Articles and/or SPL Rules or otherwise, by the SPL to RFC, Sevco and/or Rangers FC and hereby agree that the SPL shall retain all such Fees and other sums due to use and apply as the SPL shall in its sole discretion think fit.
Sevco Undertakings to and Agreements with the SFA
the glorious balance sheet
Your right most of my posts are anti HUN, and the others I back the club, players, CEO, and the board, question? Do you think it will ever catch on?
Told you.
NegAnon2
I hate to think the game is rigged in Scotland, but all my entire life I have suspected just that. Not paranoia. The decisions made behind closed doors at Hampdump prove we are fighting against the huns to this day, purely because of who is in charge at SFA, Spfl and the REFs especially the refs.
Keep beating them on the park as we have done for years. All a game which we won
owen,
Everybody has their own opinion, all I am asking, is for Celtic to do as they stated and “take it all the way” to the COA for sport if necessary.
It would seem once more the Scottish footballing establishment have called our bluff.
Hopefully we have not heard the last of this, although the easy option is to renege on our fighting statement.
NegAnon2. I may not always agree with you, but there is no doubt you are correct on many occasions.
Our custodians must always be questioned.
HH to both of you.
Kitalba dude don’t mention uni. He will go off in a tail spin at anyone who may have a qualification of any kind. Don’t do it kit it will be a whole day of diatribe (that’s abuse Tony) from him!!!
Anyway Kitalba he isn’t talking to,me in case I ask him again if I am one of , ahem “thems lurkin Huns GIRFUY” or something like that.
2.6 The SFA, the SPL, RFC and Sevco hereby agree that the transfer of the RFC Membership to Sevco is wholly suspensive and conditional on the transfer of the RFC
Share to Dundee FC being registered by the SPL no later than midnight on 3rd August 2012.
Greenpinta HH right back at you.
The point I am making is that celtic are firmly part of the charade and therefore won’t take anything external which may shine a somewhat unwelcome light in the dark place that is scottish football.
tonydonnelly67
11:00 on 20 December, 2014
Celtic where involved in the 5 way seceret agreement with the SFA and Sevco?
I would like to see that evidence, accusers please show?
Still waiting?
tonydonnelly67
11:11 on 20 December, 2014
‘the glorious balance sheet
Your right most of my posts are anti HUN, and the others I back the club, players, CEO, and the board, question?’
####
It would be nice if the Board were as resolutely anti hun as you are.
But they’re not, and that’s what’s problematic for some of us.
NegAnon:
let it go man, there isn’t much room to manoeuvre in the gutters.
Exslaemuirbhoy of course it’s a rigged game. The sevco fiasco has proven that to us. However what we have also discovered is that far from celtic fighting against these forces we are actually part and parcel of that rigged game.
How does that make you feel?
Ouch!
16. GOVERNING LAW, JURISDICTION
16.1 All the Parties hereto agree that in relation to any proceedings involving RFC initiated after the date of this Agreement the SFA will continue to retain appellate jurisdiction notwithstanding the terms of Article 16.3 of the Articles of Association of the SFA.
TonyD
You do see the irony of slagging Kitalba for his comment about Celtic supporters Tony?
I’ve seen you do it on here repeatedly often without foundation or evidence.
CQN Christmas Sherry bottle well and truly open.
Quite
Concerning
:-)
I know kit. I’m just having a wee chuckle to myself.
anybody know if wee Henderson is in the running for a start tomorrow ? Last time 1 of the youths had me thinking we are getting the rewards of investing in the youth set up a wee sh*t called Ganea ( excuse the spelling) came along and finished that playing career, I know a good few have come through since but the difference with the 2 bhoys I’m talking about will be Celts for life. Respect big John & Liam Ave Ave