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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Love it
https://pbs.twimg.com/media/B5FSBhgIAAAQaU9.jpg:large
HH
https://www.youtube.com/watch?feature=player_detailpage&v=1xv6SSGtZZo
ynwa
Pics are superb Roy C memories flooding back thanks again
https://pbs.twimg.com/media/B5S6789CcAAoJX4.jpg:large
DesperateCSC
The best chants for me was when we lined up at Celtic Park with Hughes and Johnstone on the flanks.
The chants alternanted between:
“We’ve got Jimmy Jimmy Jmmy Jimmy Johnstone on the wing, on the wing…”
and
“He’s here, he’s there, he’s every “flippin”where, feed the bear, feed the bear…”
Ha ha!
it was great stuff..
Posted this the other day.
HampdenMemories CSC
Roy. You’ll have to stop. Mrs MN thinks I should be paying more attention to shopping.
Brilliant photos as always. TB shot had me welling up though
I remember as a youngster, Celtic must have been in the States pre season and an american sportswriter describing a Harry Hood goal thus;
‘Hal Hood boomed one, high in the cage’
Laughed myself silly at that one.
Boomed a few in a few cages did Hal. Great player.
sixtaeseven
Jimmy oh Jimmy Johnstone oh Jimmy Johnstone on the wiiiiii ing
Auldheid 1642-
Your idea for a football ombudsman is an interesting one. There is such a body in England – http://www.theifo.co.uk/complaints.html – but I don`t know what kind of teeth it has in terms of taking action against complaints. But I do know (and it may or may not be related) that the English game is far better at sanctioning renegade club owners and they have adopted Financial Fair Play (FFP) for domestic competition.
While in comparison the SFA and SPFL have stalled on bringing in FFP and dance to whatever tunes spivs at Rangers and Hearts have demanded over the last 10 years.
I read often on here and other sites of people saying they have written to the SFA about such and such an issue and have not even had the courtesy of a reply. That is out of order and I couldn`t imagine that happening in England for example.
The fans really are treated like dirt by the suits in Scotland.
Stuart Cosgrove is the best football broadcaster
in Scotland by a country mile.
tom mclaughlin
18:13 on 20 December, 2014
Tom
Email me when u are avail over xmas break
Incl your location as maybe easier somewhere else
KTF
BBC shows 28,000 at Sevco Dome today, can anone confirm..??
mncelt
Apologies.
Don’t know where quite came from!!!
I’ll blame the phone!!!
Paddy T
Good to see you posting. Was’nt Alan ex Dundee and I can’t be bothered googling.
I wonder who we had in his position to have lost him to Spurs.
Much discussion in the Vogue today about
all things Celtic.
Some recall the build up to the semi final against Inter in 1972
and getting passports for the final.
CRC,
These weans actually say “yah” I thought that was a joke
I’m liking that wolfsburg top, can just see a big celtic crest were the vw badge is, wid look the bizzo!!. (Imo).
Lhads,
What page/time is the photo of Lizzie in the trophy room on?
Over And Over
https://www.youtube.com/watch?v=6qpMdLiDVEg
Without googling who played right back against Inter
and took one of the penalties ?
prestonpans bhoys
19:21 on
20 December, 2014
Stay safe :-)
HH
CRC
Jim craig.
.
Hampden In The Sun
https://www.youtube.com/watch?v=p8B-BeaC8Xc
Sean Thornton like your idea about the big Celtic crest on the middle of our football tops
You see that’s another thing that’s bad about them that run our club.no imagination. Absalout nothing
winning captains
17:10 on 20 December, 2014
Have one spare for tomorrow if any good
Sean t,
I mentioned that top the other day. Is it the home one?
It’s a cracker. Only kinda spoiled by the sponsors badge.
Mind ye….a wee chain type thing on it and you can pretend you’re in the beastie boys :)
Evening bhoys and ghirls
Best fancy dress ever ?
https://m.facebook.com/photo.php?fbid=10205781217396630&id=1442479492&set=a.1972028027349.115015.1442479492&source=48&refid=7&_ft_=qid.6095005640193459492%3Amf_story_key.-2074413090392083920&__tn__=E
Hope it works
I noted a rather unseemly dialogue earlier
today involving two of our esteemed posters.
Down with that sort of thing i say.
Although it did make me laugh.
That German market on Princes St today was full of Huns.
I’ll get my coat………..
weeman67
Totally false – accoring to Beeb Ecosse it was 28 thoosan’ and 53.
Half of that, if they were lucky,
14 thoosan’ and 26 and a midgit…
Ha ha ha
If we had beat Inter in 72 we would have
played a rather good Ajax side in ?
Gordon64 @ 19.37
You talkin’ tae me ya dick?!!
Gordon64,
Davie Hay?
All conjecture of course but had things been different I think Leeds would have beaten Feyenoord in 1970.
Zombies should stay away from computers
Wesley Foskett @wesleyfoskett @HenrikVegetable @fmg1965 @MattLindsayET lolol ok Bro three little words mate- The Rangers Are Coming
Il padrino blames the schools
I’m sure it wiz jim craig!.
SMB
No i was not conversing with your good self
ya bam.
Enjoy tomorrow.
HH
As i remember, he actually lost his footing as he struck it.