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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https://www.youtube.com/watch?feature=player_detailpage&v=8kAU3B9Pi_U
Rhinestone Cowbhoy
signaturetuneforthe WiilieGormanCSC(FTFocuscameras)
HH
Fred, I can’t stand Charlie now. His ship has sailed way over the horizon now.
In saying that, he has stood up for Sally, maybe he’s not that bad after all as Sally must stay.
Dallas-his coupon was a picture,when the fans behind him erupted HH
Small Faces and PP Arnold
WOWCSC
https://www.youtube.com/watch?feature=player_detailpage&v=6vWTtx_PxPo
HH
bgx
00:24 on 21 December, 2014
Tric ribbon…what was he thinking of…oh…let me guess…himself…money…..money …himself…..
……
Every player for Celtic was available for transfer at the time Nicholas went..
From 1888 to the present day..
That’s the way it always has been.
Dallas Dallas where the heck is Dallas ,
Hope for him yet then ;o)))
The Bhoys in the Gorbals
https://pbs.twimg.com/media/B4xAwjmCUAAmmxz.jpg:large
loveCharlieGallagherHH
Charlie nicholas is the prime example of what i said last night and got ripped up for….explayers are expro footballers….they are men not gods…thank them for their sevice…and move on….live in the present…support Deila(who i have ripped up and praised) Brown and Guidetti…
and they gave us…
https://pbs.twimg.com/media/B4v6fVMCEAAUOvw.jpg:large
LegendCSC
roy croppie
00:31 on 21 December, 2014
https://www.youtube.com/watch?feature=player_detailpage&v=8kAU3B9Pi_U
Rhinestone Cowbhoy
signaturetuneforthe WiilieGormanCSC(FTFocuscameras)
HH
Has Tonyd hijacked you monicker :))
Roy Croppie… What a shift, I am shattered just trying to read your stuff, cheers for Grace best song/story of the lot, love it, makes me smile & sad at the same time, enjoy watching the hoops tomorrow Bhoys
Hail Hail and good night
You=your, still good stuff. HH
https://www.youtube.com/watch?feature=player_detailpage&v=pn6cxaKRwtk
the Yardbirds
For your love
HH
SIPSINI hh A flaw of mine :))
https://pbs.twimg.com/media/B4oz5BPIAAEoUq8.jpg:large
Goal HH
Gerryfaethebrig :))) hh
BGX ,
Alleged FANS who become players should be a bit different no?
Hail Hail.
Creedence Clearwater Revival
https://www.youtube.com/watch?feature=player_detailpage&v=CvwQmxLaknc
HH
Fred c dobbs….explain?
https://pbs.twimg.com/media/B4jo8J5IAAE28Ol.jpg:large
Love this
for 16 Roads HH
On St Stephen’s Day when you need help to back a winner
https://www.youtube.com/watch?v=11GlNvi7hPY&list=PLA60IxvP9MEOgSjfb6_K7Yxz4yySxCnpR&index=5
https://www.youtube.com/watch?feature=player_detailpage&v=6ul-cZyuYq4
go your own way
HH
https://pbs.twimg.com/media/B4hbfwRCAAA5otb.jpg:large
Hero and a bear…
HH
https://pbs.twimg.com/media/B4XCAcPIcAAh8Hd.jpg:large
STILL LOVE THIS DEFIANCE
HH
Fred, maybe their is hope for Charlei Nich for backing Sally lol
BGX ,
An ex player sticking the knife into us would be annoying.
A Celtic fan who donned the Hoops doing the same?
Cannae forgive that.
Having watched tonight’s football I maintain we should have signed Charlie Austin and Johnny Russell.
I posted about Austin long ago.
We should have signed him along with Hooper.
Instead we were landed wae Bangura,Balde and Pukki.Good Lord.
https://www.youtube.com/watch?feature=player_detailpage&v=0kNGnIKUdMI
My sweet lord
HH
Bill McMurdo blogger, son of Bill McMurdo football agent and marketing genius, is, genuinely, the sanest pro-Rangers commentator around.
>>
Come on – he’s a Jack Irvine conduit, and ‘religious’. He may be able to spell, but that’s where sanity ends.
An overlooked classic
https://www.youtube.com/watch?v=slYX1zVaJqQ&list=FLXJY3lhc7P3m0eTnhTlCNCw&index=53
omacelt,
Nice one my confirmation name. HH
Bada bing, Jim Stewart looked totally bewildered at us going daft and us not having scored.
I don’t think he ever recovered from our second goal at Ibrox on new years day 1983.
https://pbs.twimg.com/media/B4SOwtrCUAAHA5x.jpg:large
Big Mick
HH
Fred c dobbs…as my ma(rip) would say …mortal sin…
Roy Croppie’s pictures.
https://www.youtube.com/watch?v=EG0Q3kR7_9c
https://www.youtube.com/watch?list=PLqfmipXtcb8SnxKe3TVVz0U2Qb4SCWjdY&v=SpOalTVoxHs&feature=player_detailpage
The Clash
Spanish Bombs
BGX,
Exactly….yer ma was a wise wummin :O).
Hail Hail.
FRED C DOBBS. 0047
I’ve yet to meet a former Celtic supporter. Had to listen to a few on telly,mind.
https://pbs.twimg.com/media/B3uLnx0CYAE44Xy.jpg:large
we’re everywhere
HH
Watching the darts, I know, hope Taylor wins, nice coloured t-shirt.