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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WeefratheTim
16:13 on
20 December, 2014
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.
Absolutely althoughI seem to be wising my life away at the minute “wish Christmas was over ,cant wait for the 27th ” daughter said to me “if I hear that one more time” lol great that your ankle is better wont hold you back from enjoying Christmas
KTF
HH
wising =wishing
doh
HH
Kitalba,
I cut my own hair, have no tats, and am pretty sure I don’t judge people by their name….but by their words & actions….which puts you ( fill in the rest ) ;-))
H.H.
Often it is not what a man says that damns him… it is what he does not say and a plastic muppet has no brain.
nighty night ya wnaker
dena29
Lol, indeed I am dying to get to CP next week. Almost pain free now although the ankle and instep are still pretty swollen strangely enough. Was a real dull one I gave myself. Lol
Weefra HH praying to Wee Oscar.
Kitalba,
your starting to rehash the same old lines….i’m plenty of things but calling me a liar is calling my integrity into question and as you don’t know me, makes you a DICK of the highest magnitude ;-))
H.H.
WeefratheTim
I am glad to say I have never gone through anything like like that and never want to but if it laid you out that you couldnt get to CP I know it must have been bad :-((((
KTF
HH
nye bevan’s rebel soldier,
I am indeed, on the West Coast south of Perth, a beautiful spot. The Gold Coast is a great place, especially if you manage to spot a beautiful Japanese girl early in the morning. I miss the family and going to the games but we have a great wee group of Bhoys down here and we will be at our HQ tomorrow night for the game.
I also have to give a shout out to the Sing Tims, I watched most of the Motherwell game with my Bhoy a couple of weeks back at Bojangles Bar in Singapore, like all good Celtic folks they made us most welcome.
AR
Kitalba,
all Muppets have no brain but you know that all too well….
H.H.
alasdair maclean
15:21 on 20 December, 2014
Steven Thoson for St Mirrren – straight red tackle…always a dirty player.
I wonder if he’ll be on sportscene talking us through it?
Ashley co have scored again against Livi
St Mirren Official @saintmirrenfc 12m12 minutes ago
Another bad tackle on a Saints player. We have been hacked more than Sony
KITALBA
Chuck it,mate. You’ll only end up even more annoyed.
When does the postathon end?
BMCUW
How you the day buddy? Sober?? Ach, of course you are.. :-))))
Weefra HH praying to Wee Oscar.
Hi AR. Was just thinking it was a year ago when you made me most welcome and took me to the cricket. Many. Any thanks again. It was fantastic!
Really poor last 24 hours on here with the usual suspects….to quote one of the other rockets…aff oot…
Hibs go ahead…DL falls off his chair.
antipodean red
Never managed to get to Perth, was in based in Sydney,maybe
one day,always great to here about far off tims kicking the ball
every time Celtic take the field,take care and pass on my best
wishes to all.
BMCUW,
let him rant and rave….it gives him a twisted satisfaction….as far as i can see I’m only the latest in a long line of targets…he’ll soon get bored and move on
H.H.
The Glorious Balance Sheet
Your point about the pace at which football moves to address issues is spot on.
It is quite ridiculous that supporters have no court of appeal to which football is accountable. A football Ombudsman for supporters is required, but this idea that football is outside interference from government ( with a small g) is a fallacy that stops what is taken for granted in other spheres of life.
Any poltical party who promised to introduce accountability by whatever means would get my vote.
here =hear,eff me,time tae walk the dug.
That was a good point raised earlier about Peter Lawells remuneration package. I’ve often wondered how his salary and bonus stacks up against a club with a similar number of Champions League appearances. Ajax are arguably a good measure of this. A big club playing in a more competitive league, but similarly skint for resources, so to speak.
If PL’s package is on the level, his annual earning should compare favourably with the Ajax chief exec. Are there any financial gurus out there who can dig up the Ajax figures?
Nye Bevans’ rebel soldier
16:40 on
20 December, 2014
antipodean red
Never managed to get to Perth, was in based in Sydney,maybe
one day,always great to here about far off tims kicking the ball
every time Celtic take the field,take care and pass on my best
wishes to all.
———————————
If you ever get the chance you should go. The coast of WA is awesome. Worth taking a road trip. You’d also get the chance to visit Hutt River Province and get your passport stamped by Prince Leonard and Princess Shirley.
Salvador Dali’s watch walks into a bar, and the Barman says “Why the long face?”
The Ajax financials are to be found here: http://jaarverslag.info/annualreports/ajax/$File/AJAX_Jaarverslag_2013_2014_NL.pdf
Anybody out there read Dutch?
Auldheid
16:42 on
20 December, 2014
The Glorious Balance Sheet
Your point about the pace at which football moves to address issues is spot on.
It is quite ridiculous that supporters have no court of appeal to which football is accountable. A football Ombudsman for supporters is required, but this idea that football is outside interference from government ( with a small g) is a fallacy that stops what is taken for granted in other spheres of life.
Any poltical party who promised to introduce accountability by whatever means would get my vote.
—————————————
Isn;t the problem that national FA’s need recognition by UEFA and/or FIFA in order to participate in the competitions those organisations own the IP for? I don;t think any 1 political party can sort that. Needs something bigger to happen.
Listening to……………( the proper long version )
adi_dasler@14:52
“Re ‘Act’
Has anyone who has a non SNP MSP been lettered & they have came out against it publicly ?.
Just curious”
Yes mate. Every MSP contacted by me, except the SNP guys, came out against it. I have received replies and up-dates from them, continuing to express their disapproval and their commitment to change the Act or remove it.
Not only did they write to me, they voted against it in the Embra Parliament and some spoke against it at the Justice Committee. They have been defeated at every stage by majority bloc SNP voting.
This is not a Referendum Issue but it remains an SNP issue. They are committed to making “their” Act work and would not be beyond pressurising the researchers to talk up the parts that are effective and to bury the stats on cases. And they have history on that.
If you remain doubtful, I can provide you with copies of the correspondence, though I might have deleted the e-mail reply from Ruth Davidson.
setting free the bears for res. 12 & oscar knox
16:50 on 20 December, 2014
Would you mind forwarding all your replies to me mate?
Nothing like a good squabble on the blog, keeps it interesting…but today. My goodness! So infantile. Spoiled weans…
The manager said: “Our plans are advanced. We want to get the team better in this window and on February 1 we hope to have a better squad than we have today, but that means two things – one is that we need to keep the best players and the other is that we need get some players in that will make the squad and the team better.
“We’re not always in charge with transfers and it’s about what’s available. The most important thing is quality and we need quality players, and if we can buy them we’ll do that.”
Ronny Deila
Came across the Juventus chief execs’s figures: €2,227,800
As of Fiscal Year 2013.
Hamilton Tim
I have some letters from Tom Greatrex. I will check if I have any e-mails.
3 much needed points for port vale – happy gene tonight
dog with a bone describes some posters on here today
Bourne
I think this window is hugely important.
It will give Ronny his first opportunity to bring in players after having had time to watch the current squad in competitive matches.
It will also be an indicator on his ability to bring in players of decent quality.
Well done jammabhoy in the last man standing competition. I was beaten by an injury time own goal. #gutted
SFTB
Isn’t he an MP as opposed to an MSP?