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.
2,054 Comments- Pages:
- «
- 1
- ...
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- ...
- 55
- »
tonydonnelly67:
GIRUY too, your a Green Hun in my eyes and that in my eyes is bad so just in case you missed it the first time GIRFUYYGH
BCW
Brilliant mate, thanks
Rghit I’m off to do smoe Crhtmsais sophinpg.
Hail Hail
Canamalar 1352-
That’s understood. Hope it all plays out as we hope with the SFA and Rangers cheating exposed and dealt with.
the glorious balance sheet
The only ‘umbrella’ group I’m aware of is FAC.
The Celtic Trust have been working tirelessly on this but they need the support to put additional pressure on the politicians.
Let’s be honest, how many on here and in the wider Celtic support actually went to the trouble of contacting their MSP? In fact how many actually bothered reading it?
A Celtic supporter was prohibited from taking an Irish tricolour into St Mirren Park because there was an image of Che Guevara on it. He was told it was a political statement.
Inside the ground I saw 2 billboards, one in support of the SNP and one in support of Labour.
Recently I posted the clip of the boy being harassed at Tynecastle for wearing a Free Palestine T shirt.
That’s what the OB Act has brought us.
Whits a ‘green hun’ ?
HamiltonTim 1359-
Did John Mason MSP not come out the other week and say in the Scottish Parliament that wearing a “Yes” badge to a football match was political and so actionable under the OBAF Act?
I know he is just a backbencher and not a government minister but bejeez, its such an idiotic statement to make, it should have been all over the papers, laughed at, and should have prompted some reasoned debate in the media about how idiotic this legislation is. If it can make wearing a “Yes” badge legal in the street but illegal in the football ground then that is clearly absurd legislation that needs repealed.
You`re right that people should do more in terms of writing to their MSPs on this. I know for a fact that if MSPs were to receive a lot of correspondence, especially from people writing individual letters, as opposed to standardised templates, then that would help make more politicians question and challenge this.
I`d like to see all the SPFL clubs come out strongly against this, not the isolated press releases we`ve had to date, and actively encourage fans to campaign on this. But I know that`ll never happen…….
My friends in Celtic,
IMO Scottish football is corrupt and always has been. The internet is only a vehicle which helps confirm what we have known for many years.
My preference is to play in a European or English league.
What I would really like to know is what our current custodians are doing to make that happen ( If at all )
As our current footballing environment continues to downsize, the more clamour for a “rangers” in the top flight will increase.
The old historic challenges are gone, bring on the new. However I am a Celtic supporter and I will support Celtic no matter who they face.
HH.
Jobo Baldie
08:34 on 20 December, 2014
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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I’ve done this accumulator, all over 2.5 goals though. 197/1 on bet365.
burgas hoops
14:08 on 20 December, 2014
Whits a ‘green hun’ ?
It’s the opposite of a blue Tim !!!!
Connaire 12
I went to primary school with Mick in the Port, he might have been born in in Johnstone, a lot of people from the Port and Greenock were born in Johnstone including my sister.
He is now living in Cork working for the Irish FA
Kitalba, I have said, many many times.
I want to see Celtic play in another league.
The SFA is not fit for purpose. Any purpose.
The latest big name after messi McLeod …….
Rotherham United £1m
The orcs have been playing to much football manager 2015 in there spare time, there looking for 2-3 million with anything from a 25%-50% sell on clause haha good luck with that HH
TGBS
Sadly, a response from many will only come when the ‘Act’ visits them or someone close to them.
Tinytim 10.48
Great post .
The old anecdotes are one of the things i like most about cqn … let’s have some more.
Regarding Willie Johnstone , we shouldn’t airbrush history .
He was happy to play for a football team which had a sectarian signing policy .
What does an extremist murderer have to do with Celtic Football Club?
Why would somebody deface/cheapen the Irish flag with such an image smeared over it?
Political extremists should stick to politics, Celtic shouldn’t be used for their unpopular and failed politics.
Kitalba (earlier),
Have a good Christmas.
Beefheart.,
It’s all part of our colourful history, something you obviously know nothing about.
Good Afternoon Timland.
Hangover now retreating with the help of paracetamol and
a good dog walk,reading back I see cqn went all Jeremy Kyle,
as I’ve said before maybe we won’t be united until were under
the heel of the hun……..kinda sad.
Willie johnston 21 caps
Jinky 23 caps
says everything really
Doc:
Paradise lost mate or more notes into Pedros’ account.
And in the streets of Glasgow humans brave hunger and the chill without a breeze block to break the wind or an outsider to stave the pains; the hunger pains.
Heated drive ways or the minimum wage?
I’ll put myself out for the minimum wage but I’ll be fecked if I’m going to contribute a single penny to another’s heated drive way or, as we have here in Brisbane, where they try to load my car insurance premiums to pay for all the lost Ferraris and Rolls Royce’s belonging to all those who wish to live along the perpetually flooding rivers banks.
There comes a time in my life at least mate when I say to myself and to all too…
wait a feckin minute, who’s the mug here, who’s paying for your lifestyle?
Who.
Hamilton Tim
Agree with your last post. More people need to get in touch with their MSPs as soon as possible. It is not good enough to come on here and moan about the ‘Act’as many have done. They need to take action like you have done so consistently. Incidentally I have kept your reply from your MSP on file to see if in the case of getting a reply from my MSP I will be feed the same nonsense.
Barrowbhoy
Thanks, but I know all about the family including Michael being in Cork. I was not sure if he had been born in Johnstone Hospital. As you say often happened in those years for residents of the Port. However I certainly know about his family, his schooling, etc.
Re ‘Act’
Has anyone who has a non SNP MSP been lettered & they have came out against it publicly ?.
Just curious
Apparantly McCoist expense account has been leaked, meant to be shocking stuff, anyone with any info on this?
the glorious balance sheet
14:10 on
20 December, 2014
HamiltonTim 1359-
Did John Mason MSP not come out the other week and say in the Scottish Parliament that wearing a “Yes” badge to a football match was political and so actionable under the OBAF Act?
I know he is just a backbencher and not a government minister but bejeez, its such an idiotic statement to make, it should have been all over the papers, laughed at, and should have prompted some reasoned debate in the media about how idiotic this legislation is. If it can make wearing a “Yes” badge legal in the street but illegal in the football ground then that is clearly absurd legislation that needs repealed.
You`re right that people should do more in terms of writing to their MSPs on this. I know for a fact that if MSPs were to receive a lot of correspondence, especially from people writing individual letters, as opposed to standardised templates, then that would help make more politicians question and challenge this.
I`d like to see all the SPFL clubs come out strongly against this, not the isolated press releases we`ve had to date, and actively encourage fans to campaign on this. But I know that`ll never happen…….
————————————–
We have the absurd situation where fans can have a flag taken off them because a copper decides it is “political”, then enter the ground to be confronted by banners on advertising hoardings paid for by political parties. Go figure.
Clicked back in and I see you are reverting to type,or being dragged into it.
Chuck it,guys. It does us no favours.
Oooooops,please!
Anyway…
connaire12
11:28 on 20 December, 2014
HT…enjoyed your contribution at 10.58.
Started reading Caesar and the Assassin and noticed that on page 59 where the author speaks of the infamous 1980 Cup Final, he states ‘ a young man from Johnstone, in Renfrewshire, had other ideas. Mike Conroy was immense…’
It is possible that Mike was born in the Maternity Hospital in Johnstone, however he lived all of his earlier life in Port Glasgow. In fact, when I lived in the Port I drove Mike senior to young Mike’s first game for the Celtic at Easter Road.
Surprised that St Stivs or Exslaimuirbhoy or other Portonians on here have not noticed this mistake. Then again I am not sure if they read books in the Port.
~~~~~~~~~~~++<~~~~~~~~
I remember Mike Conroy very well. Signed on Monday from Port Glasgow and played on Saturday.
Gubbed 4-1 which was nearly as big a kick in the balls as Tom McAdam got.
No penalty no red no chance.
Summed up our season.
Mike was a smashing player for us. Loved him to bits. And re Alex Miller,what an elbow!
Shamrock hoops
From phil mac on twitter:
ShareTweet+ 1Mail
I note with interest that the “Ally took a 50% pay cut” narrative seems to be a hardy meme in Planet Fitba.
The reality is much more interesting.
Earlier this year, after discussions with Philip Nash, Mr McCoist agreed to give up his bonus from last season and his unvouched expenses.
I am not sure, at time of writing, is ‘give up’ means he agreed to forego the bonus or merely defer it.
However I will try to ascertain that for you in the near future.
You may, dear reader, think that the expense thing is no big deal.
However you would be wrong on that one.
Under his contract Mr McCoist was due an annual expense allowance of £125,000 in unvouched expenses.
Unvouched means no receipts have to be presented, it is part of his overall remuneration package and is in addition to his annual salary of £750k.
I understand that these expenses are now restored to him.
This rather generous allowance was part of his new contract.
That is the one that he agreed with Charles of Normandy who was, at the time, besieged in the Ibrox keep by that somewhat uncouth pretender John de Bomber of Govan.
Mr Alistair has been rather costly to keep in the Big Bleak House.
A source close to the action took me through the numbers.
Mr McCoist received an annual salary of £750k pa for two years (£1.5m) and those unvouched expenses £125k pa also for two years (250k).
His league winning bonuses (two of them) were (conservatively) 50% of his annual salary so another £750k pa.
However they may (like those of Charles Green) been as much as 100% of his annual salary of £750k
So that could be around £2.5m for Mr McCoist since Charles of Normandy invited him to the Sevco banquet.
A number crunching buddy told me that the £125k pa figure for expenses made some sense of an item in TRFC that had been baffling him. He said that the figure for “sundry expenses” was very high indeed and this made the picture a lot clearer for him.
If Mr McCoist is paid his full severance package (another 750k) then Super will have taken around £3.25m out of RIFC/TRFC by the time he does walking away.
As I wrote today the accounts of The Rangers Football Club (formerly known as Sevco Scotland Limited) will shine a light on the true nature of McCoist’s remuneration.
If you will recall the RIFC year-end accounts stated that the company would require £8m to get through the year.
Well I have been assured that is, to use a well know term from accountancy, pish.
I am told that a far more realistic figure would be £12m.
As well as that the cost of a prospectus for the share issue –assuming they stick to the £8m figure- would be between £500k and £800k.
In other words the likely cost of the McCoist pay off.
For the avoidance of doubt RIFC/TRFC cannot pay off Mr McCoist because they simply do not have the money. They will have to access external finance or ask Super Ally to do walking away for free.
In the meantime Mr McCoist remains the manager of The Rangers Football Club.
———
£125 slush fund
You can a fair old number of curly wurlies with that kinda dosh.
Reads like oldtim’s bar bill!!!!
HH jamesgang
SSB earlier.
T’Rangers fans do not get enough info. Bad
McCoist’s wages etc published. Bad.
Go figure.
shamrock hoops
14:59 on 20 December, 2014
Apparantly McCoist expense account has been leaked, meant to be shocking stuff, anyone with any info on this?
_________
Try Greggs website :))
gene
14:35 on 20 December, 2014
The 11 Lisbon lions –117 caps
Kenny miller, lee Elbows,Steven Whittaker and Kirk Clubfoot — 120 caps
HUNbeliveable
Is oor Ronny being paid more than Ally McCoist?
Is oor CEO being paid more then the Rangers CEO.
S
RQN
kitalba @ 17:45 19 Dec 2014
thelurkintim reminds me of Franz Kafka reminds me or (of) a man with too many mouths.
*****************************************************************
Eh?…have only got one mouth, it must be my multiple personalities yur toakin aboot ;-))….so what if the style i write in changes, that’s my prerogative. If you’re saying I’m a multiple poster, you’re wrong….ask CQN HQ. If you’re saying I’m a hun, well you’re so far off the mark you’re in a different universe.
So much for your vaunted do unto others integrity stance
Ps I got namechecked by kitalba….i must have arrived ;-))
H.H. & KTF
BMCW……was at Easter road that day, there was a bit of bother
after the kick in the balls,help me out who was the hibs goalie?
bmcuw,
Was that the game that the sky was dark with bottles and cans flying on to the park after the Tom McAdam incident? I remember many of those days, mainly at cup finals at Hampden, oh the nostalgia of the 70’s!
AR
Nye,
Could have been big Mike McDonald, hero of the Bankies and who went to Hibs on his return from Stoke?
AR
Steven Thoson for St Mirrren – straight red tackle…always a dirty player.
TheLurkinTim
15:11 on
20 December, 2014
kitalba @ 17:45 19 Dec 2014
thelurkintim reminds me of Franz Kafka reminds me or (of) a man with too many mouths.
*****************************************************************
Eh?…have only got one mouth, it must be my multiple personalities yur toakin aboot ;-))….so what if the style i write in changes, that’s my prerogative. If you’re saying I’m a multiple poster, you’re wrong….ask CQN HQ. If you’re saying I’m a hun, well you’re so far off the mark you’re in a different universe.
So much for your vaunted do unto others integrity stance
Ps I got namechecked by kitalba….i must have arrived ;-))
H.H. & KTF
——————————-
NameCzech..? :-)