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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As far as player movement gos, how about a few cheeky loans over to the Embra teams…?
Roy Croppie
Re : Earlier photo of Lizzie in the trophy room
Is that real or fake?
A belter to annoy Huns if real :)
Evening fholks
Congrats to Jammabhoy who pipped Penfold at the post to win the crown of LMS2 Champion and a whopping £260.Well done!!!
Last Man Standing 3 will kick off in the New Year (Sat 10th Jan) with a slight twist. The cost will be £10 to enter, with 50% as before going to support Wee Shay. The difference with LMS3 is that if you get knocked out in any of the first 3 rounds, you will be able to buy another life…but each time it will cost you a further £10.
To register your interest, please drop us an email at cqnpredictor@gmail.com
Big thank you to you for your continued support and indeed to Jobo, who has been totally brilliant in running LMS2 and is currently enjoying a well deserved night out
HH
CRC
fess19
How prophetic, I have family in Finland. :-)) Cheers buddy. Night night.
Weefra HH praying to Wee Oscar.
Last Christmas
San Diego Bhoy
17:36 on
20 December, 2014
As far as player movement gos, how about a few cheeky loans over to the Embra teams…?
I was thinking something similar but thought no-one else will believe we should help anyone with the possible exception of Hibs . interesting what others think of this idea
HH
Aye, Broony, Chico, Emilio and big John Guidetti turning oot in maroon would upset some mair than likely ;-))
Seriously, I’d be willing to sell a small portion of my soul to make this happen.
Winning C
I’ve text someone about spares for tomorrow but he won’t know until the morning.
@ dena29
17:39 on 20 December, 2014
eldiegobhoy,
I didn’t mean to be patronising, I’ve no idea what their contracts are, only the board will know that.
We both know there is a clear out needed, how they do it?
They signed the players and are paid handsomely for it…maybe it’s time to stop speculating and buy real talent, rather than p*****g in a pot.
I do realise we have a budget, but to me there is too much wasted on hopefuls that other clubs are more than happy to offload…more up front I may add.Hh
Roy Croppie
Cellllllllllllllllllllllllllllllltic :))
Love this photograph, compare and contrast – The pretend/phoney manager, and the real McCoy:
http://i1.dailyrecord.co.uk/incoming/article1170990.ece/alternates/s615/Neil%20Lennon.jpg
HH.
Just back from a day’s Christmas shopping in Glasgow with the missus. Always preferred Glasgow over Edinburgh at this time of year. Much better atmosphere.
Feeling shattered. Feet up with a smooth single malt later. Nice.
So we can extend our lead to 7 points with a victory at Tannadice tomorrow. I have a feeling we will hammer United. Strongly fancy a handicap bet, maybe -3.
Good to hear Guidetti is fit. He’s due to find the net.
5-1 to the Bhoys.
Hail Hail
sipsini
17:48 on 20 December, 2014
As far as permanent signings go, who other than Derk have we bought that fit into the category “hopefuls that other clubs are more than happy to offload”?
Looking forward to the game tomorrow – should be a cracker.
Hope to see a full strength team and bench for what is one of the toughest grounds in Scotland.
Not related, but I was happy to see Hibs get a decent win today (3-1 away to RR).
If they could get a bit of consistency going, the second league could get interesting – just mage the Edinburgh two finishing first and second…
;o)
CELTIC
Oh dearie me – Peter Lawwell salary under review again – as I have said before, there are some oif our ‘so-called’ supporters who are desperate for Ibrox-type headlines and strife.
In recent years Celtic’s turnover has been, on average, around £65 million – peter Lawwell’s average salary has been around £700k (inc bonuses).
£700k is around £15k per week – much less than a good number of players.
It also represents 1% of turnover – are we really saying that a successful, Celtic supporting, long-term chief executive is NOT worthy of 1% of the club’s turnover.
In ten years he has delivered:
6 League Titles
5 Scottish Cups
2 League Cups
6 CL Group Stage Qualification
Strong and sustainable Financial Performance
Training Complex at Lennoxtown
Commonwealth Games
The Celtic Way
Celtic Park Hospitality
What more is it that some people want, or, think someone else can deliver?
Will we actually strenghen in the comming transfer window? I’m not to sure we will, I mean I don’t think we will buy anyone. We may bring in a loanee or 2 but don’t think we’ll sign anyone on a pernament deal with the possible exception of JG.
I would consider a succesful window being getting rid of the dead wood out of the squad and reducing our out goings.
I know we aren’t going to sign 30-40k a week players but god how I’d love us to reduce our 1st team squad down to about 20 players to free up wages to afford 2-3 quality players. Never going to happen though.
I think I am missing something in the `must have a clear out` philosophy. Do we simply get rid of every player who hasn`t , so far, cut the mustard? Would that not leave us vulnerable in the almost guaranteed situation of back up when players are injured?
Obviously, we wouldn`t buy replacements for those being cleared out or we would maybe be back where we started. No? Is our squad a lot bigger than any comparably sized Club?
JJ
san diego bhoy,
Get your point, most have been loans, we still pick their wage tab up while they’re contracted to us, while sitting on a bench.
Not including others that are out on loan.HH
I don’t think asking about PL’s re numeration package with respect to other chief execs is remiss.
Offering opinions without a measure of comparison is, however, IMHO.
This is how you establish whether you are getting value for money. When you buy a new car, you don’t go into the first dealership and take verbatim the value offered by the salesman, you visit a number of dealerships to compare the relative performance of financials on offer.
Horrid Henry at 17:55
Careful! You`ll be in danger of gaining SOME support 0:-).
Seriously, that record, although not ALL down to PL, does suggest excellent Club Management.
JJ
Sipsini,
I agree loans are not ideal, but preferable to another Derk…
til later Timland
HH
hamiltontim
Many thanks – we’re heading up anyway and hopefully we’ll get them there.
Auldhied
Political voting intentions are a wide and ranging dilemma.
No Trident weapons or no OBB por cierto
horrid henry
17:55 on 20 December, 2014
Also, I would add the Celtic chief executives performance should always be judged on our European progress, as this is the standard to which we aspire and where we make our money.
I’m certain I could manage the current squad in the Scottish league and achieve a measure of success.
Goodnight Timland.
Saturday night beckons,a win the morra and 7 clear at
Christmas.
Kevj……where are you?there was handbags on here today and
you were no where to be seen,do you take weekend off? get back
on here my cage rattling jungle comrade.
Celticrollercoaster supporting shay.
I have not entered the 1st two LMS champion competitions but i am looking forward already to competing in the next one in the new year.
I am saving my money £30 at least for the new rules for everytime i get put out i will change my name,or does the CQN agreement not allow this.HH
Just been reading back.
Kitalba pished again and stalking the Lurkin Tim, accusing him of being me. Can’t believe he’s still persisting with that nonsense after being shown up before with another poster.
Paul67 – Can you please confirm to the blog whether or not I was posting as the Lurkin Tim this afternoon? If I was, please expose me for all to see.
Thanks and goodnight.
jungle jim hot smoked,
Maybe not so much the mustard, probably custard would be more apt to put our dumplings in.
I don’t see any reason for the size of our squad, it drains our wage structure.
eddieinkirkmichael
Will we strengthen in the windae… ?
If we can hold on to Jason Denayer and Virgil van Dijk, and sign John Alberto Guidetti, I think we will have given ourselves enough of a booster to go into the Europe with confidence and be strong enough to wrap up the three domestic trophies.
Also, I think we should be using the Griffs more and certainly in domestic competition at Celtic Park we should be playing with two strikers up front (and yes I know that we play against packed defenses…).
Gardez la Foi
Sixtae
Combined attendance at all SPL matches today was about 24,000 with nearly half of them at Aberdeen. This despite the top of the table being tight with only 3 points separating the 4 teams fighting for second place. The big man once said that football is nothing without the fans. Scottish football is in desperate need of a lift from somewhere.
The sooner we get Hearts and Hibs back in the premier league the better
over 15,000 at Tynecastle yet only 11,000 at Aberdeen. Interesting crowd numbers – but good for a pre- Christmas Saturday.
Maybe I can’t see the deadwood for the trees.
Winning Captains I’m sure if you get up to Dundee early try there shop across from the main entrance.
Not going to get involved in any negativity here – I appreciate that the club has been very successful in recent years,some credit due to PL.
Personally I would have sacked the CE after himself and Strachan let the hun off the hook the season we squandered a 7 point lead after the new year.
Regretting nothing as Lenny eventually nailed them once and for all.
We should really have been going for the 10 I-A-R this season, if the truth be told.
The club have shot itself in the foot on many occasions, but allowing Lenny to leave was foolish in the extreme.
HH.
Our first team squad is bloated and unhealthy. I think we’re still running a squad big enough for reserve football but that’s gone. 24 is plenty big enough