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Ashley fait accompli

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By on CQN BLOG & Comments

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.

Still time to order Caesar & the Assassin, the 2015 CQN Annual, with or without bundle, or anything else from the vast array of Celtic books and DVDs in time for Christmas post, but you don’t have long……

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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  2. Gerryfaethebrig on

    16 Roads

     

     

    Neil is a Celtic legend in my eyes, in fact a lot of people won’t watch the 2003 final again but our wee red haired hero was amazing even in extra time, I would love him back but In honestly I hope Neil returns as a fan and just enjoys being a fan, there is far too much hatred towards him, let Neil get Bolton promoted and whatever bigger team he moves onto I will wish him every success, because he is and will always be a winner

  3. windygatekeeper on

    San Diego Bhoy

     

     

    “…I’m certain I could manage the current squad in the Scottish league and achieve a measure of success.”

     

     

    Get your CV off to the temple of the dead – I`m hearing they could do with someone with your skills soon

  4. 16 roads - Celtic über alles... on

    gerryfaethebrig

     

     

    18:21 on 20 December, 2014

     

     

    ———————————–

     

     

    Fair enough comment mate.

     

     

    HH.

  5. sipsini on

    supports direct.

     

     

    The official attendance at hunpox was 28,000, according to what I’ve heard it could’ve been below 10,000.

     

     

    Oh the blue seats are bare

     

    No huns anywhere…add on as you please:))

  8. TheLurkinTim on

    BSR,

     

     

    What about gradual sustained improvement through till next season, with a decent run to the QF/SF of the Europa League….hand on heart I’m not sure we can ever be competing for the Champions League Trophy ( in it’s current format ) again….but it doesn’t hurt to have ambition

     

     

    H.H.

     

     

    Ps I’m tom mclaughlin, no I’m tom mclaughlin ;-))

  9. eddieinkirkmichael on

    sixtaeseven

     

     

    18:15

     

     

    Totally agree re 2 strikers in SPL, though it appears has a system and wont change that system reguardless of the opposition.

     

    I appreciate that 1 striker is the prefered option of most top clubs just now but personally I believe we should be prepared to alter our system for some domestic games.

  15. sixtaeseven on

    mncelt

     

    Don’t worry, all is well.

     

    28,053 at the Govan Sport Direct Stadium today (BBC Scotland figures, so they’re accurate, n’est-ce pas?). 53 Sevco fans and the rest from Livingstone. I presume?

     

    Ha Ha

     

     

    I know what you mean about the low SPL attendance figures today, but the Saturday before Christamas is traditionally a low turn out – I guess you can guess why.

     

     

    My hope for 2015 is that the Edinburgh Two get promoted and Scottish fitba fans will witness a great competitive season next year – then it’s “may the best team win” and I’m sure if that happens, the fans will come back in droves.

  18. ElDiegoBhoy on

    I loved Harry Harry Harry Harry Harry Harry Harry Hood!

     

     

    My girlfriend at the time was well pissed off with me repeatedly chanting that!

     

     

    In a Hare Krishna way of course.

  20. vim_fuego on

    Roy Croppie

     

     

    Fake or not it’s being mailed to several sevvies tonight

     

     

    Always Quality photos from you please keep them coming

  21. sixtaeseven on

    ElDiegoBhoy

     

     

    Harry Hood was a fantastic player for us.

     

    I loved all those songs as well.

     

     

    Down through the years the Celtic fans have alway had the best chants and songs – always topical, always good fun (part from one or two…), always about our love for Celtic !!!

  22. Hamiltontim on

    WC

     

     

    I’ve sent you my mobile number if I hear about tickets I’ll let you know.

     

     

    Off oot just as well as it appears there’s a gathering of the “and in 4 days Peter Lawell created the world” CQN crowd on :-)

  25. mncelt on

    Harry, Harry, Harry Hood

     

    Harry, Harry Hood

     

     

    Repeat ad nauseam

     

     

    Not the most original song, but used to have fun singing it in the Jungle

  26. Celticrollercoaster supporting Shay,our bhoy wonder along the way on

    Zico-Maltese Bhoy

     

     

     

     

    18:12 on

     

     

    20 December, 2014

     

     

     

     

    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

     

     

    ———-

     

     

    HH and welcome to LMS3. Don’t forget to send me an email at

     

     

    cqnpredictor@gmail.com

     

     

    £30 gets you a start and 2 extra lives if required in the first 3 rounds.

     

     

    HH

     

     

    CRC

  31. prestonpans bhoys on

    Just on the train back to the Pans full of drunken posh weans! Anyway did super salary earn his wages today?

  32. Celticrollercoaster supporting Shay,our bhoy wonder along the way on

    Prestonpans bhoys

     

     

    Who let you in first class? You collecting tickets?

     

     

    Leave the CQN 5s mascot alone :-)

     

     

    HH

     

     

    CRC

  35. Burghbhoy on

    I was too young to remember Harry Hood playing but no matter what age, the Burgh bus all know …….

     

     

    You can keep your Colin Stein, Eusebio and Alan Gilzean.

     

    We’ve got someone quite as good , we’ve got Harry Hood.

     

     

    Ooh Harry, Harry , Harry Hood. Harry, Harry Hood

  36. sixtaeseven on

    mncelt

     

    You’re right – good fun

     

    Another chant was:

     

     

    Oooo-oooh Harry Harry

     

    Harry Harry Harry Harry Hood

     

    Oooo-oooh Harry Harry

     

    Harry Harry Harry Harry Hood

     

     

    Not forgetting the

  41. Paddy Turner on

    We don’t need your Colin Stein, Eusabio or Alan Gilzean

     

    We’ve got someone twice as good

     

    We’ve got Harry Hood….

     

     

    Btw…would have loved to have had Alan Gizean at CP……one of the best I ever saw in that era…..brilliant team player.

     

     

    Paddy T

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