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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. petec on

    Utah Saints, you know when something good is going to happen.

     

     

    What that is, remains to be seen.

     

     

    Darkness may well be engulfing so much.

     

     

    Keep that Faith, never lose it.

     

     

    Something amazing is invariably just around the corner.

  2. Margaret McGill on

    Intellectuals who navigate around academia in the pseudo intellectual manner refer colloquially in the vernacular that TD is the quintessential wanker. So to speak.

  3. Margaret McGill on

    Silent Tim, Holy Tim

     

    Sally’s a bam, and so dim

     

    Roon and roon ye ya bastards of bile

     

    Holy Infant, tender and mild

     

    Sheep being heavenly fleeced

     

    Sheep being heavenly fleeced.

  5. SydneyTim on

    Hamilton Tim. Was in the company if estadio a few weeks back. He said that he shared a few beers also with you recently and that you were one of the good guys

     

     

    Your comments about this Donnelly guy or what ever his name is, seems to back up suspicions I had of a while back

     

    Although links with lawell , didn’t know that

     

    What are they ?

     

     

    Indeed Snake

  7. Hamiltontim on

    antipodean red

     

     

    I’m off to bed soon because I’m up fairly early to go to Tannadice.

     

     

    Tony’s post about Kitalba getting knocked out for his ‘anti supporters’ comments tipped the balance.

     

     

    Even worse was Jungle Jim’s comment in support of Tony’s comment about Jeanette not being on page 3 of the CQN magazine.

     

     

    A guy who I’ve witnessed sitting on his arse for 90 minutes at Parkhead but berates anyone on here who criticises Celtic.

  8. Margaret McGill on

    Auldheid

     

    Isnt TD the nom de plumbe of that celtic lawyer thats been giving you the runaroon on res 12 for 14 months?

  10. Margaret McGill on

    BTW

     

    From Feb 2nd 2015 no more Margaret McGill

     

    All you Old Firm Old firm pig swill swallowing repugnant Tims are welcome to it.

     

    I will always support Celtic as in Glasgow Celtic, however, after feb 1st not another word not another penny.

     

    Good luck ya cowards.

  13. petec on

    Margaret McGill

     

     

    03:15 on 21 December, 2014

     

     

    BTW

     

    From Feb 2nd 2015 no more Margaret McGill

     

    All you Old Firm Old firm pig swill swallowing repugnant Tims are welcome to it.

     

    I will always support Celtic as in Glasgow Celtic, however, after feb 1st not another word not another penny.

     

    Good luck ya cowards.

     

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

     

     

    Your wee bro is correct when he said that Freemasons were running Scottish Football. All the main Clubs have them in their boardrooms, IMO.

     

     

    I ain’t no coward but I have a firm Belief that has nothing to do with Football, Celtic is not and never will be about the Board.

  18. Hamiltontim on

    Maggie

     

     

    After last year’s AGM I went down to The Pheonix and I was told that a deal had been struck re Res 12.

     

     

    My reply can’t be printed but I said that they’d been duped.

     

     

    I posted here re my opinions and within 5 minutes I received an email from BRTH.

     

     

    I assured him at the time and I would now that I don’t doubt the credibility of most of the requisitioners. However it bothered me that I looked at your brother’s Twitter account and he had a picture of him and Peter Lawell on it.

     

     

    Power corrupts the brave.

  19. petec on

    Hamiltontim,

     

     

    Everyone is a sinner, I know you know that better than so many.

     

     

    Like kitalba, you talk from the Heart.

     

     

    And that makes it Essential Reading.

  26. A Ceiler Gonof Rust on

    Vaguepunter, I didnay think you ever had a horn to lose…………………

     

     

    Toot toot big chap

     

     

     

    Keep it smooth…………………………………….:_)

     

     

     

    HH bruv

  27. A Ceiler Gonof Rust on

    HT, so is Donny T a dooble ingot?

     

     

    Whit you saying?

     

     

    And, what’s your beef with JJ? He’s my angus wing man.

  37. A Ceiler Gonof Rust on

    Kitalba, drop me an email, I want one of those fantastic breakfasts you were offering.

     

     

     

    I’ve got a CNUT of a day coming up.

     

     

    Tiling…………………fun:_(

     

    Fitting an extractor fan, fun?………………..NAW:_(

     

    Moving a tonne of chopped wid…………..:_(

     

     

    The one bright part of my day is watching the hoops and I’m looking forward to it like WheeeeeeeeeeeeeeeeeeHAAAAAAAAAAAAAAAAAAAeeeeeeeeeeeee.

     

     

    Off out to sort the wid.

     

     

     

    Early riser sorts the woooooooooooooooood.

     

     

     

    Celtic

  41. bognorbhoy oscar in my thoughts on

    a ceiler gonof rust

     

    Need my kip now , a 4clock rise for cqn updates on the game

     

    HAIL HAIL Tims

  42. Nye Bevans' rebel soldier on

    Good Morning Timland.

     

     

    It’s the shortest day of the year,not for me bloody dug had

     

    me up at 4:50,she’s fed, walked and away back to sleep.

     

     

    Not a great day on here yesterday,feuds abound,don’t really

     

    get it,post your opinions,defend them, debate them,but ffs

     

    don’t fall out with someone who differs from you.

     

     

    Anyone who disagrees with the above is a total erse,that’s

     

    a attempt at humour btw.

     

     

    Safe journey to all those travelling up to Dundee my admiration

     

    for our away fans knows no bounds.

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