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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Tom, john mcginn is jack’s grandson. His brothers,paul and stephen, play for dundee and sheffield utd respectively.
Good luck to Celtic today.
Seven points clear, before New Year sounds good to me.
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Tom McLaughlin
09:51
JMcG is a grandson of our former chairman. ( if that’s inaccurate, an army of Clydebank McGinns, Gibbons and Boyles will provide the bhoy’s Celtic credentials – after family first)
67 Heaven
Agreed.
I would never have believed it if someone told me last Christmas that Lenny would be at Bolton same time next year.
I guess in some ways I can understand why he went.
Just thought in my naievity that he would be our manager til he retired .
No slur on RD by the way.
Have backed RD since day 1 and am convinced he will be even more successful that NFL.
Hail Hail
jamesgang
10:17 on 21 December, 2014
Yea, there’s no doubt in my mind about that….at all!
Hail, hail Roy Croppie!!
HH
I hope today is the day that we start to turn the serious amount of chances we are creating into goals, goals and more goals.
HH
Score draw is the confident prediction today at Dundee Utd
Tooting Tim
As jamesgang says
your going nowhere:)))))
Although I never saw anyone lift your name for the wrong reason, if they did I can assure them they were mistaken.
Having spent some time in your company ,you are what we are all about as fans & a club.
Hail Hail & KTF
canamalar lennon hunskelper extrordinaire
10:12 on 21 December, 2014
Right, thank you for that clarification ……. !!!!!!! They shouldNEVER have received a license to play, and Celtic should NEVER have allowed it ,,, we should have been ‘shouting from the rafters’…….. fortunately, the corrupt plan to let them back in MAY very well be their tribute act’s undoing…..justice …….
Big win today is not much to ask, Stokesy MotM
Good morning from a grey north staffs – was looking forward to watching the bhoys on tv then just found it’s on bt – grrrrrr.
So will be relying on the usual excellent updates – think it will be a tight game, hopefully we will shade the 3 points
HH
burghbhoy
10:19 on 21 December, 2014
Mmmmm …. RD seems to be getting there now, but not entirely convinced just yet ….!!!!!!!!
GENE
Don’t you know any virgins then?
Oops,sorry-I meant Virgin customers…
I am confident that if our chances to goals ratio improves to-day we will win but give. Utd’s decent front line and our squeaky bum defending recently it may be more like 3-4 than 4-0
Sorry 0-4
Difficult game ahead today if United are up for it. But an early goal or two and we can bring home the xmas points. Tight at the back is always a good start – and let’s get the goals our recent play has promised.
bmcuw
i don’t even know 2 other wise men
67heaven…,
Shareholders were cheated, the boards hands are tied with regards to compliance and disrepute the shareholders are not subject to SFA compliance, indeed we are sure the SFA require to comply with city and company law, rigging competition to the advantage of a competition I think is a serious breach.
a competitor even
The place went mad.
BoogalooCSC.
HH.
I was at St Mirren v Celtic hospitality last season.John McGinn was voted Saints MOTM,he came round the tables and had a chat with everyone.An outstanding young man who represented his club brilliantly.A few of us on here been touting him as good enough to pull on the hoops.Hope it happens,he’s the full package,skilful,strong,box to box runner.The type of player on our own doorstep,we have passed up in recent years.
Canamalar,
It will end up shareholder against shareholder via the courts if you do not compromise. Bored know this just buying time. Going over the same old ground repeatedly on here.
H.T
regarding your last post I shared your Twitter concerns but Res. 12 is Canamalar baby really.
guyfawkesaforeverhero,
I played with his Uncle Johnny Gibbons, an absolute whippet, very good player and completely mad as a brush as well as also being a great guy.
AR
It is difficult to round Celtic abstaining from any smokey filled room with regards the 5 way agreement and Peter Lawwell negotiating Sevco’s TV deal to the financial detriment of other Scottish clubs.
Accept it for what it is and what we are or walk away or appear in perpetual denial
HH
Starry,
I agree with you so does Morrisey23rd
HH
Awe_Naw…,
No sure how that one could work, the SFA shareholders being sued by Celtic shareholders:)
Long term John McGinn could be our Broonie replacement. In many ways a mirror image, left sided whirlwind who plays the high tempo closing down game our manager seems to favour. A better passer than Broonie.
Watching Sky’s greatest teams..Brazil 58-70.
The quote from Clodoaldo summed up the greatest player ever for me.
‘When you discuss who the best Brazilian player is, you first take out Pele, as he was from another planet. Then you talk about it.’
Pele and Maradona are just ahead of Messi and Ronaldo in my book.
Two reasons, world cup winners and they were kicked lumps out of, but still produced.
Awe_Naw_No_Annoni_Oan_Anaw_Noo
As long as I don’t have to listen to The Smiths or Morrisey I’m clap happy:))
Celtic shareholders will evenrually vote down the resolution declaring satisfaction. The courts wont look at it.
HH
G67-i’ve watched McGinn closely when he plays us,always gives Broonie a tough game,he nutmegged 3 of our players in first 15 mins last week,good left sided players are hard to find.
antipodean red
I know a Johnny Gibbons from Duntocher I think. Married to Karen. Would that be the same guy?
Celts to win 2 nil.
I’d like to see Grif get a game too.
HH.
awe_naw…,
When will it get voted down ?
I’m hoping 2015 will bare fruit before the next AGM :)
Gordon_J backing Neil Lennon
10:36 on 21 December, 2014
Difficult game ahead today if United are up for it.
~~~~~~~~~~~~~~~
You don;t think they will be up for it after getting gubbed 6-! at Paradise?
But, yes, as you say ~ this will not be easy.
I think I would take a 3-3 draw right now.
HH
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.
—-
Now there is a Sunday morning bonus.
Neil Lennon & McCartney,
Dundee Utd are inconsistent from what I’ve seen of them. They were very poor against Aberdeen in a big game last week, bit on other occasions have looked like a decent passing side.
You’d think with all his dosh that Ashley would be driving about in something a bit smarter than a Fiat Accompli…
ulysses mcghee – a demographic of one
09:23 on 21 December, 2014
Just back from Mass, hence the delay. Glad somebody is working in the Brig today. Aye, some amount of ramaladingdongs indeed.
Keep the Faith!
Hail Hail!