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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. vim_fuego on

    Roy Croppie

     

     

    Thanks for the pics tonight I usually lurk and only post during games now and again but quality stuff

     

     

    HH

  4. Tricoloured Ribbon on

    dallas dallas where the heck is dallas

     

     

    23:57 on 20 December, 2014

     

    Tricloured, two pals, one of them’s dad and myself, were right behind the left hand stanchion, if you faced the goals. My pal’s dad was going wild even more than us

     

     

    A great day out. I remember when they equalised, the current Motherwell assistant manager, was giving it big time to us.

     

    ……..

     

    I was behind the right hand stanchion as you look at it from the camera position.

     

    Right in line with Charlie’s shot in other words.

     

    I’ve said it a million times mate.Ye have some memory.

     

    I cannae remember the other two goals that day.

     

    Had to look at the above clip to recall what happened.

     

    Yet I remember vividly games from 15 years prior to that..

  8. !!Bada Bing!! on

    tricoloured ribbon-played school football against CN for St Thomas’Primary,St Modans Primary,St Gregorys Sec and with him in Glasgow select teams.HH

  9. westies on

    Roy Croppie

     

    What a bunch of fabulous emails. I have many Celtic books and collectors’ items……..but you had some (before) unseen stuff. Great posts. If there is a prize for poster of the year….you get my vote.

     

    Thanks for some great memory recalls

  12. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    TRICOULORED RIBBON

     

     

    I was in the enclosure,line of sight as it flew in. Jim Stewart’s parents lived two doors up from my aunt and uncle. Oh joy…

  18. Dallas Dallas where the heck is Dallas on

    Tricloured, Paul got our first when the ball broke to him on the edge of the box and they equalised following a stramash in our box with the extremely glaikit, Andy Kennedy, having a shot saved and the extremely ugly Motherwell assistant manager scoring.

     

     

    Paul had also scored in our three two victory over them the previous October. As a football match, that was the best I had saw against our no longer here Glasgow rivals.

  19. setting free the bears for Res. 12 & Oscar Knox on

    My thoughts are with Kano tonight.

     

     

    I was chuffed to bits to get an e-mail reply from him just 10 days ago, knowing the effort it takes for him to do so.

     

     

    I would trade a favourable result from Tannadice for better news from Australia but Kano would argue with me for attempting the trade.

     

     

    Positive Prayers and thoughts are sent

  20. GerryBhoy on

    Good night to all on here. Roy Croppie, brilliant posts and most especially, thoughts and prayers for Kano.

     

     

    HH

     

    Gerry

  22. Tricoloured Ribbon on

    !!bada bing!!

     

     

    00:09 on 21 December, 2014

     

    tricoloured ribbon-played school football against CN for St Thomas’Primary,St Modans Primary,St Gregorys Sec and with him in Glasgow select teams.HH

     

    ……….

     

    Ok pal thanks.

     

    He was a fabulous talent.

     

    I find it hard to hate him as a he was a Hun Skelper of the best.

     

    He did himself no favours with his communication with White.

     

    WTF was he thinking of?

  23. sipsini on

    Roy Croppie,

     

     

    Just had a look back, some great Celtic photos and cracking tunes that I’ll catch up on later…especially Green onions, one of my favourites.HH

  27. emusanorphan on

    gordon64

     

     

    22:51 on 20 December, 2014

     

    There will be thousands of Celtic supporters

     

    making there way to Dundee tomorrow to support

     

    the greatest team on the planet.

     

    The best supporters in the world bar none.

     

     

    ————————————————————————————-

     

     

    Making THEIR way to Dundee tomorrow…..

     

    You ignorant big mccoist! Did I no learn you anything?

  30. Tricoloured Ribbon on

    bobby murdoch’s curled-up winklepickers

     

     

    00:12 on 21 December, 2014

     

    TRICOULORED RIBBON

     

     

    I was in the enclosure,line of sight as it flew in. Jim Stewart’s parents lived two doors up from my aunt and uncle. Oh joy…

     

    ……

     

    You should have landed at their door to bring in the New Year….!!!

  31. !!Bada Bing!! on

    I don’t think Jim Stewart played for the huns again after Charlie’s goal,seemingly their manager of that time thought he should have saved it.

  32. Dallas Dallas where the heck is Dallas on

    Fred C Dobbs, sky also had footage of the arsenal man banging the window of the box they were in when we got our winner that night.

     

     

    His chips comment added to his ‘celebrations’ when we won showed him up.

     

     

    After the Sammy game at Ibrox, Charlie was in the sky commentary box and you should have seen his coupon when Neil was interviewed in it after the game. He had been a bit critical of Neil and the team in the run up to that game.

  41. Dallas Dallas where the heck is Dallas on

    Bada bing, Jim Stewart was a big pal of Tommy’s.

     

     

    Jim Stewart was in goal at Love Street on that memorable day in 1986.

     

     

    The STV coverage had him holding the ball just as news came through about Albert not Walter Kidd’s goal at Dens. His face was a picture as he looked around to see us all going mental.

     

     

    Matt McGlone was working as a photographer that day and after we go ballistic, Choccy asked him if Dundee had scored. Choccy runs back with a big grin on his coupon.

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