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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Play loudly
penfold
Nae joy sir. I hope you’re well.
weebobbycollins,
Have to agree with you. Today has been one of the poorest days on CQN.
hamiltontim
17:01 on 20 December, 2014
Can’t agree entirely. The winter window is notorious for its inflated prices, as its a “needs must” market. I would like to see the squad trimmed, however with some movement the other way.
HT
Agree, it’s a huge window for us.
He’s choosing his words carefully, with the fabled VVD mega bid ( which I don’t think will happen ).
It’s high time ‘he’ bought somebody.
Hamiltontim
I’m probably well off the mark here but generally speaking I don’t think quality players change clubs in January and of course I’m aware of a few exceptions. We’re hardly likely to be offering over the odds for anyone so why should clubs mid season look to sell?
Anyone got 2 spare tickets for the game tomorrow that I can buy?
“Hitman John Guidetti is fit for tomorrow – after overcoming a knee knock.”
theinternets
I see st mirren had a fans bar today – maybe next time thompson stays out of it
EDB
That’s why I think we’ll still have VVD.
All good HT. Cheers.
HH
Natknow
It does. Like Governments telling FIFA thatcfootball has proved itself too corrupt to govern itself adequately .
FIFA ‘ S response is to ban any country making a stand on its own, but if the big Europe countries in football terms got together they could dictate change.
I don’t know though how bad it has to get before folk get sickened enough by the greed to demand government get involved.
However I think the idea of football being accountable probably is more a vote winner now than a vote loser so conditions for change have never been so good.
Celtic talk keep it coming HH
reclaim the blogCSC
bournesouprecipe,
Let’s hope if there is money to be invested, it’s with a forward passing mid-fielder…please.
Maybe cover for izzy wouldn’t go amiss either.
BSR,
If you read it carefully it comes across as a generic board statement….starts off telling you what you want to hear….then getting the excuses in early….disappointing
H.H.
nakkasammi
You are quite right to feel aggrieved over the Tonev issue. Even Paul Lambert did his Pontius Pilate. “Beyond reasonable doubt” has been overlooked in this shameful episode and Shay Logan hasn’t exactly covered himself in glory
HH
Plus a clear out of the deadwood.
bsr
I agree with you. I’m just that kinda person:o) Seriously tho we don’t need the money from his sale until summer so yes I reckon he’ll be here a bit longer whether or not he likes it.
san diego bhoy/Bourne
Yes, the squad needs trimmed but it’s not easy to get rid of players that other clubs don’t consider good enough or consider them good enough but simply can’t afford.
What will be interesting is if he can ‘trIm’ who he releases.
I don’t think that VVD will go this window unless there’s a mind blowing offer for him.
I believe that some of our summer signings (loans) were rushed in. Ronny has had time now to assess the squad, identify what areas need improved and to locate possible replacements.
It’ll be very interesting to see what our squad looks like on February 1st.
Its seems hardly just over a year ago that Canalmar (amongst others) were shouting about ” res12″ the board doing nothing about the huns!! Before AGM they had a meeting and “lo and Behold” the Celtic
Board were in fact doing something, but keeping it quiet. ( don’t tell the enemy EFF all).
A year on we have more complaints ,or rants, about our board doing nothing and accepting the huns back into Scottish football top league. Our CEO said we are losing 10 million with “them” being out of top division, which has been widely quoted on here. He also stated “there will be no league reconstruction to get them back in” this is not so widely quoted. Take your pick and agenda. Me? I
support the “famous Glasgow Celtic” and don’t give a flying fcuk about the team from “Ibrox”. Unless
you have a mole similar to Phil Mac has at Ibrox I don’t think you know what you are talking about (
Nega & Kitalba). Nothing personell but “do not knock my club” Guess that makes me a happy clapper.
Someone on here a few days ago had a go at DD, ” If I had Millions, I would have bought the stadium and given it to the the fans & and also10 million to strengthen the team” glad he’s not my financial advisor!
Regarding ex-players wanting the old firm? back. It’s OK for us to say “with our Nom due Plume” to say we want them ground into the dust and still walk down Ashton Lane. Do you think Frankie Boy could do/say the same.
Enough rant, one more beer then bed, midnight here.
As Wee Fra says “night night Finland”
HH
Looking forward to Steven Thomson on sport scene Sunday night … Wee rat feels sorry for him but a red card all day :)
Had a smile on my face today when I saw Kanos sister change her Facebook profile pic to an old pic of Martin and Mandy … That Bhoy sure argued the sox of most on here :)
winning captains
You’ll get tickets outside mate.
Guys like Tonev and Wakasso gut felt poor to me.
I was right.
Come on Celtic smarten up hh
Considering the end of the transfer market we now
operate in,this January window is massive.
sips
What’s a forward pass?
TheLurkinTim
Tend to agree, they are old words rehashed “Come out of the window stronger than we went in” etc. We should be planning for the CL, but that never happens till the summer window, not just at Celtic.
sipsini
How would you go about clearing out the deadwood?
Why the hell commit to players who we wouldn’t buy from a SPFL team…hh
Penfold
Cheers mate. That was a shocking time to concede, but saying that happy to have taken the cash.
Hail Hail
Sometimes on here I just want to shout Celtic HH
CELTIC
Danny Fox’s beard,well done son.
HT
Yes
I think replies from James Kelly as MSP
roy croppie…….stop shouting and get some Harry Hood
photies on here.
BSR,
HaHa, we can but dream.
Eldiegobhoy,
Maybe that’s what PL is getting paid the big bucks for?
hamiltontim
17:17 on 20 December, 2014
san diego bhoy/Bourne
Agree that it’s unlikely Virgil will be going anywhere (unless the likes of Arsenal come in with a huge panic buy bid).
One quick fix for squad trimming would be to get a few out on loan and ease the wage bill.
As of now, I’m happy with Ronny’s progress and learning curve. Still bumps along the way way no doubt, but I see the green shoots of progress and I’m happy to give him another two windows to see where we are. One thing you can’t doubt about the man is his application. Seems completely engrossed and obsessed.
sipsini
I shouldn’t have asked.
Everybody thinks that Celtic are class.
I hope that one day Lenny will return to the club that he loves and that he leads us to success in Europe.
Neil Lennon – The best since Stein.
Marvellous.
HH.
Predictive text, aghhh!! TIMLAND