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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natknow
surreal ;-))
H.H.
Kitalba,
I know you work away a lot and you’re not in amongst thems, but a lot on here are, yes their team died.
Their Feckin support never, they are still the shit on our shoes that needs wiped off…no matter how many times we have to do it. HH
Who is the annoying Sid Waddell sound-a-like on the Barca commentary ?
Sally’s expense list ?
Gregg’s
Aulds
Burger King
KFC
McDonalds
Pies R us
antipodean red……..I just remember it all kicked off,not unusual
back it the day,it was a dreadful season,the worst side I ever seen
in the hoops,a very ordinary hun side won the treble.
77/78 survivorCSC.
sipsini
if you know who on here is one of thems, call them out on it. The only person I’ve called out was Darwinsbeautifulidea….only because the stuff posted was odious….and i still kept it polite by calling him the missing link ;-))
H.H.
Dayell on SSB hearing Hertz have gone 2 up ” Hearts are in the driving position” How do these guys get paid? H H Hebcelt
I= I’ve
thelurkintim
15:34 on 20 December, 2014
_________
I actually meant a lot of posters work in an environment with rabid huns.
Sorry if it didn’t come across that way. HH
For all you rubber fetishists out there: SK Bran have unveiled their new kit for next season – a waterproof kit made of rubber. Now you can combine 2 of your favourite pastimes ;-))
H.H.
nye,
It truly was a desperate season, we never recovered from losing Kenny Dalglish at the start of that season, it left a malaise over the entire club.
AR
Goals galore in the SPL
TheLurkinTiM
hi.
Which prince are we dressing up as tonight?
Kitalba,
Howdy….i’m still wanting to know your reasoning tho ;-))
H.H.
Oh ! watch that blood pressure no Prince Foreskins or is that ten skins or fifty skins,
don’t forget that the UK health service is more, much more stretched than the Australian one.
Don’t want you burstin a blood vessel now.
How are you doing my ol’ mucker?
Supports Direct
13:50 on
20 December, 2014
Wats with Joe Ledleys beard ? Rasputin like
——————————————–
Just seen JL.. He’s looks like a guy looking through a hedge:-)
on a more serious note.
I am still disgusted and raging at what has happened to Aleksandar Tonev. That sham of a trial, the process of it and the outcome was scandalous.
I still can’t comprehend the lack of action by the club in accepting how all this was conducted.
That guy has played football in teams with players of all colours and creed throughout his career, has had never had any issues and then, when he comes to Scotland gets found guilty of making racist comments on the say so of what is now apparent, a classless fool.
I’m delighted he’s staying to the end of the season and I just wish more had been done to back him and ultimately our club. As we all know that’s who they were really after. Job done unfortunately
Sipsini
According to Phil Mac Ally has £125k no questions asked no receipts required expense arrangement.
Wonder if it’s taxable :)
Good afternoon all.
I hope you are all well. :-)
Weefra HH praying to Wee Oscar.
TheLurkinTim :
You’re the resident mentalist, I’m so glad you decided to come out from the closet like the gay prince.
Yip
Didnt think so
Again!
Tsoal,
tongue firmly in cheek….the SPL is soooo entertaining ;-))
H.H.
TheLurkinTim :
night night ma ol mucker you never ever disappoint.
Anyone hear Jim Murphy ‘ s views on the OBB on Off the Ball at lunch time.
Did not address the issue that runs much deeper than football to summarise.
Like him or loathe him getting rid of the OBB will be done on the political stage not by public statements from Celtic.
However you need the right politicians for the poltical issue in question to be in power.
Choices choices.
strike skin eleven
What does he spend over £10,000 a month on?
Liposuction – No
Brown Brogues – Maybe
Steak Bakes – Yes
What else?
kitalba,
not a closet, but a shed….i’m calmness personified, horizontal in fact….even tho you still insist on the wee dig….if it keeps you smiling then who cares ;-))
H.H.
auldheid,
Just read his interview with the Mail, the man has no shame.
I suppose managing the club that he does, it’s not really surprising.
Kitalba,
….till we cross swords ( no sniggering ) again ;-))
H.H.
WeefratheTim
15:56 on
20 December, 2014
Good afternoon all.
I hope you are all well. :-)
Weefra HH praying to Wee Oscar.
no Weefra some of them are still fighting lol
HH
Weefra,
good afternoon….hows you this fine day….your ankle getting better?
H.H.
TheLurkinTim :
Oh mate, I really do apologise most profusely, unreservedly even, but mate honestly… before you die, are you going to at least try and live a real life?
PMSL
Oh! Edmond says he wants to go to the hairdressers tomorrow, shantaram says he wants to play in the closet tomorrow, Franz says feclk off he’s sahgging herodutous in the closet and GCT says he’s busy with Ignaious down at the bum tattooist.
Really did enjoy talking to you. Again.
So easy it is boring
antipodean red
I assume your in Oz,I was down there in July to see my
big sis,we went to the Gold coast for 5 day’s, stayed at
surfers paradise,one morning I took a walk along the beach
a beautiful Japanese girl despite not speaking much English
got me to take a photo of her with the sunrise over the Pacific
in the back ground,a magic moment for a ole ugly Scotsman.
dena29
Aye, I seen that. Nobody took the bait though. :-)) How you kiddo, looking forward to our wee meet next week. COYBIG.
Weefra HH praying to Wee Oscar.
Kitalba,
real life….is it no here….aw well must be why am not constantly posting
H.H.
thelurkingtim
Yes a lot better. In fact, this is the best it’s felt. No problems making the game next week, thankfully. We are all fine here as I hope you and yours are also. :-))
Weefra HH praying to Wee Oscar.
TheLurkinTim :
one day you are going to grow up, stop right there, you will trust me… and when you do FFS don’t, for the love of God, Don’ look in the mirror.
Because a LIAR with an agenda will only mock you.