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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Doc:
Would you allow your neighbour to sign you up to a perpetual ‘undefined’ mortgage?
And if they did, you’d sit back and sip a sherry and so “gung ho jolly good chaps” or words to that effect.
Mate, I know you are better than that.
higgie
pretty sure you can confirm my lack of reading as a pass time
hamiltontim
11:24 on 20 December, 2014
TonyD
C’mon now Tony be serious. I’ve paid £25 for a ticket tomorrow in the hope that we get beat?
I never mentiond you, the ones who know will get it, that’s the HUNS.
TD67
You like to dish it out, so stop squealing.
Like I said….if you are concerned about huns, start looking to the Celtic board, who seem hell bent on preserving sevco.
Open your eyes man.
HH
lol.
only the telegraphs you delivered
Well, well, well…
12.3 Each of Sevco, RFC and/or Rangers FC hereby warrant to the Released Parties that they are not aware of any basis on which they could make a claim of any nature against all or any of the Released Parties (except with respect to any alleged breach of the obligations on the SFA, the SPL and/or the SFL comprised in this Agreement).
offski.
keep it lit .
the shops are calling me.
Aye, an only the back pages
Oh! yer gonna get it…
as soon as I arm my zimmer frame
Oh! yer gonna get it…
as soon as I arm my zimmer frame
Oh! yer gonna get it…
as soon as I arm my zimmer frame
Go get a life while you still can
ya stamped – FURTHER EDUCATION WOULD BE A WASTE
the green man
11:43 on 20 December, 2014
TD67
You like to dish it out, so stop squealing.
Like I said….if you are concerned about huns, start looking to the Celtic board, who seem hell bent on preserving sevco.
Open your eyes man.
HH
Squealing? Not me, I’m ripping into the blaring moaning brigade, I’m not sitting back and let them drag my club, board, team, CEO, and manager through the mud, never,
And my are opened well wide, Celtic in bed with sevco?
Have you any idea how fekin stupid that sounds, never mind posting it, Ffs.
Tony Donnelly67 1126-
I`m not any more in the know than other Celtic fan who goes to home games and most away games.
One day you may well come to understand that people who disagree with you on some things in terms on how Celtic is run or performing are not “Huns”/ “Lurking Huns”/ “members of the Green Brigade”/ “Battery Lickers”/ “Jeanette Findlay” (delete as appropriate).
Different opinions are good. The huns shut down any questioning/ criticism/ debate and look where it got them.
Tis the season to be jolly. Some folk take blogging too far.
Remember children read this site
Lenny must be on a few clubs wanted list for Christmas noo
tonydonnelly67
11:15 on 20 December, 2014
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?
####
Do you accept that the five way agreement exists?
If so do you think it would have been proposed,discussed, negotiated, drafted, finalised and signed without the Celtic Board being aware of its existence?
kitalba
Beware of false knowledge, it is more dangerous than ignorance.
ExSlaemuirBhoy:
Did Lenny get another result?
Tony Donnelly67 1148-
Get over yourself. You`re not “ripping into” anything as you put it, you`re bandying about the usual stupid juvenile and puerile insults that you throw about on this blog on a daily basis in your tiresome keyboard hardman pantomime act.
right let’s see who is calling for a boycott today?
Advocating, oops meant suggesting that we are daftiess supporting Celtic.
Bit of a Martin Luther moment here, but I had a dream Lenny would hoist that 10th flag, never seen him leaving.
Glad for him he did though. He won’t be at Bolton long.
Not till you loose something do you appreciate what you lost
Not even using spell checker Higgie , no bad eh
Do you accept that the five way agreement exists?
If so do you think it would have been proposed,discussed, negotiated, drafted, finalised and signed without the Celtic Board being aware of its existence?
This is the proof?
Where you on the Alek Tonev panel by any chance?
ExSlaemuirBhoy
I am sure you guessed I am a Greenockian and therefore had to have a go at the Port. Which of Mike’s brothers were you in school with…David or Dereck who were at St Stephen’s? The other brother went to St Columba’s.
Anyway, in answer to your question, “yes” I did know he was a Portonian.
HT
Thanks for asking. I am progressing as well as can be expected. Still intend to get that letter to Cunningham after the festivities. Thought if I composed something at the moment, she could ignore it because of the holiday period.
Wrote to the local SNP MSP about the Gallowgate kettling report. So far I have only received a reply from his secretary stating that he received the report. Naturally I wrote back asking if he had read it and what was his opinion of the findings?
Holding my breath!
aye won 1 nil at Milwall
the glorious balance sheet
11:52 on 20 December, 2014
Tony Donnelly67 1148-
Get over yourself. You`re not “ripping into” anything as you put it, you`re bandying about the usual stupid juvenile and puerile insults that you throw about on this blog on a daily basis in your tiresome keyboard hardman pantomime act.
As in everyone jumping out there kip in the Mornin waiting with baited breath on your riveting post, aye riiigghhhht.
tonydonnelly67 :
Not as dangerous as your swinging zimmer frame mate :-)
You don’t like it getting it up you do you?
But you are more than happy to dish it to people you’ve never met before…
harder working Celtic Supporters than you too, but then they went to Uni mate.
What did you personally do for the Celtic Supporters jailed in Amsterdam?
What did you personally do for the falsely accused Green Brigade post the Motherwell game?
Oh! that’s right… you condemned them.
I think this it the point where I duck from your el doradoed zimmer.
Get a wash.
Connaire12, no to sure which 1 it was StStivs would remember better, as I got forcibly removed fae the Port at a young age
TD67
Tony….im sorry to have to tell you this….But, Santa Claus isn’t real.
And to make matters worse, yes the Celtic board were/are in bed with sevco/the huns.
As I said, open your eyes.
HH
Por Cierto @ 11.46hrs.
Good post, has the sun subsided?
IMO our support is still there, it just needs a motivator or motivating factor to mobilise it.
The bunnet was such a man. He fought our corner and refused to be rolled over by friends and not so friendly acquaintances.
It seems we are better in adversity. we had a cause, we were fighting the establishment and took pride in proving people wrong.
They said we couldn’t move the floodlights, they were wrong, they said we couldn’t expand because of the graveyard, they were wrong, they said “rangers” were so far ahead that “10 in a row” was inevitable, again they were wrong, they said we would never see another European final, they were wrong etc. etc.
Even when we were building our stadium our critics scoffed and sneered. We had a temporary scaffolding stand open to the elements, which we filled.
As far as galvanising our support, it seems we are better in adversity.
A new footballing environment would provide some of our “adversity”
Again only my opinion.
HH.
TonyDonnelly67 1157-
I think we`ve reached an impasse and we`ve bored the blog enough this morning. I`ve no more to say to you. I refuse to get into a battle of wits with an unarmed man.
Enjoy your day.
“People will have different opinions on my management skills and techniques but I’d hope that even the people who are justified in criticising me would appreciate the mistakes I have made have been honest ones.”
McCoist preparing for a new career as referee ?
Some light relief from the bickering
Man being interviewed by Fat Swally
tonydonnelly67
11:54 on 20 December, 2014
‘Some circumstantial evidence is very strong, as when you find a trout in the milk.’
Henry David Thoreau
Lets hope Ally gets a result today
iki:
How does anybody make an honest mistake?
Pog,
I was wondering what ally had to do with it….then it hit me/him :))
Get a wash?lol, childish or Hunnish, not sure,
Going to au I makes you a better person than others who didn’t, here’s a news flash nut sack.
I read once that I must always be intolerant of ignorance but understanding illiteracy, that some people, are unable to go to school, were more educated and more intelligent than collage professors.
To the tune of Sheena Is A Punk Rocker ———–
Sleekit Is A Batter Licker .
Greenpinata
Cheers. Yes it has, cloudy here today :(.
It has always been about what we did to counter what they done and vice versa.
It still is! When they were top we were more glavanised!
We have now changed our mindset towards the unfairness of what they have been allowed to facilitate in creating their new club, unfortunately that does not add to attendances, only more posts about the club and sfa being in collusion with it all por cierto.
GBH
MEEEEEEEEEOOOOOOOOWWWWW !