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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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  1. Marrakesh Express on

    Dena29

     

     

    The Hibs team 72-74 were very unlucky to be up against Stein’s Celtic. An excellent side, as was Aberdeen pre Fergie, with Harper, Buchan, Graham (Castlemilk) and Steve Murray.

  5. Dallas Dallas where the heck is Dallas on

    Gordon 64, re Charlie the arse, sorry, Arsenal man.

     

     

    I totally agree. He never ever stands up for us. He once said we should shut up about the money difference between English clubs and ourselves after we lost a a european game.

     

     

    To quote the great Jimmy McGrory. ‘ McGrory of Arsenal didn’t sound as good as McGrory of Celtic.

  9. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    CELTICROLLERCOASTER

     

     

    Thanks for that,mate. Just sent him a mail,hopefully he’ll read it later.

     

     

    As Dena says,how much?

     

     

    Heartbreaking to watch him the other day in PABLOPHANQUE’s video clip. But a joy to see him smile.

  11. Gordon64 on

    roy c

     

    The guys in your photos got Celtic.

     

    Guidetti gets us.

     

    It’s something you cannot describe.

     

    The C factor.

  12. Turkeybhoy on

    Gordon64

     

    22:26 on

     

    20 December, 2014

     

    roy c

     

    Was that when Charlie used to support us

     

    before he became an Arsenal fan.

     

    Seriously how can you stop supporting Celtic.

     

     

    Charlie is still a tim.Never think otherwise.

  13. Dallas Dallas where the heck is Dallas on

    Kano, my thoughts are with you.

     

     

    Roy Croppie, the best poster on here, thank you again.

     

     

    If the players each do their job tomorrow, we should do it.

  15. Tricoloured Ribbon on

    marrakesh express

     

     

    22:56 on 20 December, 2014

     

     

    Dena29

     

     

    The Hibs team 72-74 were very unlucky to be up against Stein’s Celtic. An excellent side, as was Aberdeen pre Fergie, with Harper, Buchan, Graham (Castlemilk) and Steve Murray.

     

     

    …………..

     

    They did beat us in the League Cup and Dryburgh Cup marrakesh and beat us deservedly both times.

     

    I was at both.

  16. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    MARRAKESH EXPRESS

     

     

    That Hibs team were as good as it gets without winning a title,obviously because of who they were up against.

     

     

    IIRC,they came to Celtic Park in 73-74 with a chance to go top.

     

     

    We annihilated them 5-0. The fella you mentioned from Aberdeen,Stevie Murray? Great player,MOTM for us that day.

  18. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    GORDON 64

     

     

    How anyone can utter the words-when I used to support Celtic-is beyond me.

     

     

    That’s like saying-when I used to need oxygen to support life.

  19. Dallas Dallas where the heck is Dallas on

    Turkeybhoy, I’m not trying to cause discord as displayed earlier today, but Charlie has said a number of times on Sky Soccer Saturday he’s an Arsenal man and occasionally says we when he talks about them.

     

     

    His reply at our expense to Jim White when the smiling hun slagged us for singing the Fields of Athenry confirmed to me he was no longer part of Celtic.

     

     

    Both thought the mics were off but they weren’t.

  21. vim_fuego on

    To be fair to charlie the goal at ibrox when he dummies the whole Huns defence is one of my all time favourites

     

     

    Still a Tim for me

  23. The Raven on

    bmc

     

    ————————-

     

    was that the wk before the 6-3 league cup final against hibs ?

     

    if i remember correctly wee jimmy was amazing in the 5 – 0 game ,

     

    thot he played like that every wk , think he left at end of season .

     

    anyway thays my best memories of seeing jinky live at a game as

     

    a young 10 – 11 yr old

     

     

    aul timer r us

  26. Dallas Dallas where the heck is Dallas on

    Hibs of the early seventies were a good team with the likes of John Brownlie, the majestic Pat Stanton, Alex Cropley, Alex Edwards, Jimmy O’Rourke, Alan Gordon, Arthur Duncan, and they should have done better but didn’t as we were stronger at that time.

     

     

    Eddie Turnbull, from all accounts, was a real b.

     

     

    Nice to see Stevie Murray being mentioned another of our underrated players, It was sad his career ended prematurely when he had a toe amputated.

  29. Marrakesh Express on

    Tricoloured ribbon

     

     

    We can forget just how good Celtic were at that time, in overcoming Aberdeen and Hibs.

     

    Celtic were a top 8 team in Europe 71-74 (at least), and these teams under Bonthrone and Turnbull pushed us very close.

  34. Dallas Dallas where the heck is Dallas on

    Vim fuego, I was right behind the goals when he scored that New Years day. He was a hero but the only thing he does for me now, is annoy.

  36. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    THE RAVEN

     

     

    I think so. We were three up before my Dad and his mates had skooshed their first can!

  38. vim_fuego on

    Dallas Dallas

     

     

    Know what you mean about him. Same as Andy walker, who I used to know well, they lived the dream we all wanted to playing for Celtic ,scored against the huns etc but it’s like we are something they want to forget

     

     

    Can’t quite understand why

     

    HH

  40. The Raven on

    bmc

     

    ——————–

     

    ha ha ha ha hink ma cuz who took me , 10 yr older n me ,

     

    n his mates were prob the same

     

     

    cairryootsbaktaefitbacsc……………

     

     

    them parkas could hide many cans n bottles in those days………….lol

  42. Marrakesh Express on

    Nicholas being a Maryhill bhoy…it cant leave you surely.

     

    Soup taker yes, but I doubt very much he was supporting Arsenal in CL play off against us five years ago.

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