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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‘Jack Ruby is like a new patsy’ Mark Hateley.
sipsini :
ACGR have best hope he does not meet me on one of my good days, I’m not boasting now mate but I’ve seen the day after tomorrows sun come up without an erection or a coffee but just some hardened mates. But I’ve greyed a wee bit since then.
I look forward ( I really do) to the man (and his better half and family) coming to my house, and I’ll stand my ground all night and into the sun of the next day, that the Spey is better than the Isle malts, much better, but if he appears in his onesie then all mateship is suspended.
However, if he does appear then I’ll get the flags out, and I mean flags.
petec:
have you still got my number, if so give me a call right now and I’d love to give you a call back.
kitalba
It is not my place to say you need permission or not.
However, I could well have linked the 5 way agreement, or a version of it, in the past, without realising that it would be in any way embarrassing to Paul.
I am scratching my head to wonder who could cause trouble about an alleged document that has floated widely around the internet and been referenced widely in the MSM. As you said, we don’t know how genuine it is, so no-one is able to say that we are saying it is true.
kitalba
15:35 on 19 December, 2014
weeman67:
At a quick glance that looks close to the PDF copies I’ve got, however it stoped loading after a few pages.
Now, who would sign up to that, and in whose name?
Kit, I haven’t read it yet, I put it on the side for later so not sure of the validity..
Mammy got a petec overdose of Camu Camu and loads of Goji Berries.
The Immune System is wiped out by Radium treatments. All I was thinking of was rebuilding Mum’s immune system.
SOT,
Good to see Stephen O’Malley’s mob mentioned on here. Leaving aside his dubious views on race, the Sunn boys sure know how to concoct sonic sludge.
Will a track from Billy Childish make your Christmas countdown? I shall wait and see.
JFK shot himself because it was about to be revealed that he was the love child of Jack the Ripper and Madame Blavatsky.
setting free the bears:
Mate, I know, but I only hesitate to post it because it has never been posted before, and it appears to me, rightly or wrongly, that quite a few – to date – have never seen any copy of the bendy-bendy agreement.
kitalba
15:46 on 19 December, 2014
petec:
have you still got my number, if so give me a call right now and I’d love to give you a call back.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rather than me trawling through ~10000 emails, it is probably Quicker if a kind CQNer emailed me your number.
I’m not popular I just don’t read emails much anymore. ;))
Captain Beefheart
15:53 on
19 December, 2014
I have to say I never thought I’d see the day that Sunn O))) and Billy Childish would be mentioned on here.
petec:
If you still have my number give me a wee call and I’ll ring you back, if you don’t have it do me a favour and e-mail me and I’ll get your number from there.
Okay?
South Of Tunis
15:53 on 19 December, 2014
JFK shot himself because it was about to be revealed that he was the love child of Jack the Ripper and Madame Blavatsky.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You are onto something there SOT. ;))
Kitalba
Sporting integrity – recognising the spirit behind the words in the rules as well as the strict meaning of the words. That is what is their intent.
Offski til tomorrow folks.
JFK brought it all on himself.
Do you have a theory on who killed Kennedy?
http://m.youtube.com/?#/watch?v=Q3ZNidzWLIQ
Hasn’t JFK been punished enough?
kitalba
Is that true?
Has it never been published on here?
Auldheid:
Naw mate… I was alluding to personal integrity to a man who knows the meaning of the value.
kitalba
15:57 on 19 December, 2014
petec:
If you still have my number give me a wee call and I’ll ring you back, if you don’t have it do me a favour and e-mail me and I’ll get your number from there.
Okay?
________________________________________________________
Emailed you
setting free the bears:
I’ve never seen it once on here, though more and more I’m a stranger with strangers.
Captain Beefheart .
Yes – Wild Billy Childish and The Musicians of The British Empire will be appearing on the Christmas countdown soon .A vinyl 45 choon
The USA needs a strong JFK
Will the SFA be able to use ‘balance of probabilty’ in their case against Mike Ashley?
My friends in Celtic,
Was listening to talksport when waiting to pick up daughter from the airport.
Interesting to hear some EPL clubs charge £600 to be a mascot. Years ago when John Reid was chairman same daughter was a mascot at CP, free with first class treatment and goodies.
Also interesting to hear that Newcastle’s ST average age has risen from 35 years to average age 45 in ten years. The fans spokesman questioned if Ashley was doing enough to attract the younger fans which are instrumental in creating and maintaining the atmosphere.
I wonder what the demography is of our ST holders and support in general. I do know that the average age of our away support is much younger than our normal home support.
HH.
petec:
It hasn’t come through yet mate, you did send it to usa? Yeah?
the glorious balance sheet 16:03 on 19 December, 2014
“The USA needs a strong JFK”
Surely the USSR needs a strong JFK
Greenpinata:
I’m not a mug, I don’t believe in statistics, I believe my own eyes and in three away games this season I’d say the average age was kindly north of 35. Hardly Kids.
I’ll make a few more away games in the new year as long as thy are played on a Saturday and SMB doesn’t put the horses head on my pillow.
kit, check yer gmail account?
kitalba,
I don’t think anybody on here thinks you are a mug. I certainly don’t.
HH.
What is the difference between JFK and Bill Clinton?
One had his brains blown out and the other one was shot.
pogmathonyahun-Post of the Day :)
kit, my Mobile also has 888 in it.
coincidence?
Fondly remember an Italian tv documentary describing Clinton as the US President after Bush.
Petec
It looks like Simon Cowell has hacked my account there…
Just use the same name and add – usa.net – onto it.
I couldnae understand back in the day why FFM was saying things like KevJ was Gerry McNee.
Wow, what a respect given to a person that was willing to be ridiculed by so many, I Love KevJ because he says so much, much of it nonsense, or so it seems, plenty is a lot deeper, that I reckon KevJ disnae even realise.
It is the Lord that is dictating things.
‘Ally McCoist would like a new pasty’ Mark Hately
kitalba
16:26 on 19 December, 2014
Petec
It looks like Simon Cowell has hacked my account there…
Just use the same name and add – usa.net – onto it.
######
done