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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that lassie on skysports news is fair looking festive.
BSR
you missed out ‘misfiring’
Saint Stivs
Whit she’s blootered??
i think tam is away on the blower to pete,
Geordie Munro
11:51 on
21 December, 2014
“I wish people would wake up and realise that creating 20+ chances and converting 2 or 3 is indicative of a lack of centre forwards.”
Lennon & Mccarthy.
Is it our one and only centre forward who is missing all these chances?
Well that’s different. I’d drop him and replace him.
But in the games I’m watching it’s guidetti, scep, stokes and on the odd occasion Griffiths who are missing these chances.
~~~~~~~~~~~~~~~~~~~~~~~~~~
Maybe you kinda lost my point there ~ I’m saying two strikers would have been more effective than one. Sorry if it was misleading.
HH
naw thats jim whytes gig.
Stivs,
I hear ye. Its not like the players behind guidetti are all non scoring middys….well this season some are :)
There are plenty on the pitch who should know where the goals are.
To answer your question I believe we are 3 goals behind where we were last season. HH
Neil Lennon & McCartney
OK!
Thanks for clearing that up :)
Saint Stivs.
Your posts have made me chuckle.
I notice Canadian Tam hasn’t responded despite being on the blog.
given the green, whyte, michael, and ireland participants in the demise of the rangers, i am awat to get a bet on their next CFO being called Francis Pope
Would have loved to see Garrincha in his prime, some of the videos of him on Youtube are just mental. Him and Jinky in the same team would be any oppositions players biggest nightmare.
Paton suspended for spitting.
Replaced by Spittal.
Irony csc
geordie, to be fair, some game we will sink the lot of the chances.and win 7-8-9 to 1
1st february i think,
against a diddy team
Thunder Road
Nae buther bud
COYBIG
Would the 1970 Brazil team win the World Cup without Pele? I doubt it.
10 mins to ko and RD and PL talking on BT
Good morning CQN from a chilly eastern seaboard.
No dedicated thread today?
St stivs,
I’ll take that :))
Aye some days it just goes for you and some days it doesn’t.
‘GG
Seems not. Could be a record blog length.
Tight game in prospect today.
Utd`s weakness is defending set pieces and crosses. If Izzy is on his game we will win 2-1.
Come on the hoooooops
BT reporting g-detty know wanting to be called weh-detty
sartorial critque on the commentary team.
sutton ok in a black jaisket.
strachan wearing his grannys anorak.
owennie dressed by his granny, who wears a scarf outside their coat.
tubes.
at least they aint huns.
GEORDIE MUNRO
‘Tell him he’s effin’ Pele!’
Marrekesh Express .
Hard to answer that – that suggests there isnt one.
Generalizing ———- Napoli represent the poor south. The Milan teams represent modernity and economic progress . Lots of glory hunters . . There are Rube supporters everywhere ( glory hunters- there are 4 social clubs in my neck of the woods) . The rest tend to represent a city / a region.. Politics is a big factor .. Bourgeois / working class / right / left . etc People who dont know better tend to make assumptions re the politics . Most supports are a broad church – even notoriously right wing Lazio has hard left ultras .” Red Bologna” has right wing Ultras. etc.A very complicated thing .
3-1 celtic
COTH
HH
more satorial,
brilliant chrimbo jumpers in the crowd.
jesus – birthday bhoy.
smirking craig whyte.
Bobby
I think he wouldn’t take much convincing :))
WGS feeling the love from the away support!
Best of luck to the bhoys today
COYBIG
new article posted.
PL saying that Celtic can’t afford the top players which is why RD is there, to develop players as he did in Norway.
Good profile on JG plus, GWS saying that Anya might want to be at Celtic to play in Europe, despite issues with wages
Brown 300th appearance today
CELTIC (4-2-3-1) Gordon; Matthews, Ambrose, van Dijk, Izaguirre; Bitton, Brown; Forrest, Johansen, Stokes; Guidetti.
Subs: Zaluska, Scepovic, Commons, Griffiths, Wakaso, Fisher, Henderson.
If Guidetti wants to be Italian – phonetically -Gwiddettay
5-1 Celtic
Here we go!!!
Unchanged Celtic for 1st time this season