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Playing poker with a billionaire

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Assuming Dave King has more than 50% of the shareholding in newco Rangers, what does Mike Ashley do knowing he will not be in charge of the club after an EGM in March?

Take the defeat on one of his chins, let King’s lawyers loose on the merchandising and other deals he’s paid for and put the whole thing down to experience?

Well, possibly, but he has other options.

Ashley has yet to loan the club the money required to pay this month’s wages.  He could simply not transfer the cash, but in this event he will expect King to step in.

King with his accomplices, and others, have recently offered to loan the club money, albeit with strings attached.  If King truly has the enough votes in the bag to secure a majority, it’s likely they will loan the club enough cash to get beyond the EMG, without conditions attached.  The directors would have no option but to accept this cash, pay the bills and cede control in due course.  Ashley is owed £3m, repayable in April, for loans made late last year, so King et al will need to find cash to cover that in their ‘warchest’.

This is likely to be close to King’s narrative.  He will not have called the EGM unless the cash is available to get the club over the line this season.  I’m not prepared to countenance the possibility that he’s called it certain in the knowledge he will fall short.

I’ve always thought some kind of Grand Coalition, between Ashley and a collection of local legitimate businessmen would be the most effective forward plan, but Ashley has been so maligned by PR ‘close to King’ that this doesn’t seem to happening.  Ashley will either have to take his chance of retaining merchandising, stadium advertising and future shirt sponsorship rights, or make his play now.

It’s worth noting that the reign of the Easdales, and chairman Somers, will end in the event King gains control; they are a busted flush unless they can manoeuver Ashley into an unassailable position.

So will Ashley pack his trunk and run away to join another circus?  Don’t bet on it.  Between now and the morning of the EGM, instead of loaning an already highly-levereged club, he could buy and leaseback its properties.  This would give him enough leverage to look after his medium-term commercial interests, and exercise complete control in the long-term.

None of this even needs to happen under the current board.  He can loan the club the £10m as expected, with covenants which are, to say the least, difficult to achieve.  The cost of failure to meet one of these covenants would allow the Ashley to call-in his securities (the stadium).

Ashley can afford to lose all the cash he’s invested already, and all the his newco-related commercial contracts, but he cannot and will not lose his reputation as an uncompromising operator.  Last week I said ‘Never play poker with a billionaire’.  Whether you are a shopping centre owner, a sports goods giant, or an aspiring football club owner.  These idiots should know thier opponent.

Tickets are now on sale for CQN11, our St Patrick’s Day dinner event on Friday 13 March at the Kerrydale Suite, Celtic Park. We’re hoping to raise money for Mary’s Meals to build a kitchen at Chibwata Primary School for their 909 pupils. As well as the dinner there will be singers and dancing, it’ll be a great night.

Email me if you want tickets reserved, celticquicknews@gmail.com , or you can book tickets or tables directly at the bottom of this page.

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  1. According to my wee weather station, which is inside the hoose, with a probe ootside the hoose, the temp is -8 at the mo. Colder to come according to the beeb. Take care you lot. :-))

     

     

    Weefra HH praying to Wee Oscar.

  2. Celticrollercoaster supporting Shay,our bhoy wonder along the way on

    lennon’s passion

     

     

     

     

    20:27 on

     

     

    18 January, 2015

     

     

    ha, ha spot on!

     

     

    HH

     

     

    CRC

  3. lennon's passion on

    gary67

     

     

    20:26 on 18 January, 2015

     

     

    Not buying this 3 strikers stuff anymore. All I know when I’m at the games it doesn’t work. Main striker just seems to be a man down these days. Griffiths seemed to be more involved yesterday when big Scepovic came on.

  4. On the subject of cold night, anyone remember the midweek game week played against Killie during the festive season about 4 years ago I think.

     

     

    Coldest I have ever been at Paradise, someone said it was -10. Ended 1 all.

     

     

    HH Dan

  5. Sftb,

     

     

    That reminds me of what the ladies used to say to me.

     

     

    Saying no more. Kids read here :))

  6. Gerryfaethebrig on

    gene

     

     

    20:29 on 18 January, 2015

     

     

    That made me laugh, I am only allowed a plastic tumbler, especially when the good lady & daughter are now in their beds, I would try and open the bottle with the remote and turn the telly with the bottle opener !

  7. dan

     

     

    We’re on a farm in sth lanarkshire, ye don’t get more rural than that. Lol. Yip, your correct, it is set to get much lower tonight. Cheers for your input kiddo. :-)))

     

     

    Weefra HH praying to Wee Oscar.

  8. Dan,

     

     

    Was that the night when Rogne got a late equaliser??

     

     

    Minus 7 as I drove through. I swear you could hear the grass snap as the ball was pinged over it.

  9. Weefrathetim

     

     

    make sure your well insulated , get the heating ranked up and the tinfoil out just in casey :-))))

     

     

    or you’ll definitely not make Wednesday night

     

     

    HH

  10. Wis it no -12 one midweek game a few seasons ago, when we played ICT ?

     

     

    Anyone else not getting excited at the prospect that is Tal Ben Haim ? A winger playing in Israel, is he another of Duda Duhan’s stars ?

     

     

    Hail Hail

  11. ExSlaemuirBhoy on

    So who is paying the bills this month down ipox way, big mick , Wonga, or the tax man again ?

     

    Maybe the 3 bears kids inheritance is gonnae take a BIG hit.

     

    the lc semi is looming noo, no going maself but all you Bhoys n Ghirls going ram it right up them and stay together in numbers.

  12. lennon’s passion

     

     

    20:27 on 18 January, 2015

     

    Isn’t getting best out of strikers

     

     

    ——-

     

     

    Ha I was waiting for the correction :-)

  13. Geordie Munro

     

    20:37 on

     

    18 January, 2015

     

    Dan,

     

     

    Was that the night when Rogne got a late equaliser??

     

     

    Minus 7 as I drove through. I swear you could hear the grass snap as the ball was pinged over it.

     

     

    —————————————————————————

     

     

    That’s the one Geordie, I just googled it, attendance was given as 44k, but I think it was nearer 10k, could not blame folks for missing that one. Yep coldest ever for me.

     

     

    HH Dan

  14. Gerryfaethebrig on

    lennon’s passion

     

     

    20:33 on 18 January, 2015

     

     

    Leigh Griffiths was outstanding away in Croatia for Scotland, but playing up front yourself against Croatia is fae different than playing upfront for Celtic at Hamilton, give Leigh a partner and watch him score every game ha plays, Scepovic/Guidetti/Anybody, LG will score goals for us

  15. Has Sourness ever explained why he got a £30k EBT 10 years after he left RFC ( IL) ?

     

    Has anyone asked him?

     

    Or is he another untouchable ?

  16. I remember a midweek game in Perth around the mid 90’s and we were in the back row of the main stand. It was so cold I vowed I was giving up going to the football to take up some warmer past time ……..like naked snowboarding :-)

  17. Weefra,

     

     

    Lol, knew you were on a farm from your previous posts. Cold one ahead for you tonight buddy.

     

     

    HH Dan

  18. Kickinthenakas, my sincere condolences to you and your family on the sad loss of your mum. May she rest in peace.

  19. BHOYS,

     

    I know there will be plenty prayers tonight for Kickinthenakas and his family

     

    with the loss of his mother,

     

    can I ask that an extra prayer is said for a workmate and friend,

     

    and her family,she lost her son yesterday to cancer,he was only 25,

     

    RIP Calum

  20. DENA29

     

     

    How you doin’ kiddo. Hopefully will be there on wed. It’s just the problem getting home to our remote area. If there is the slightest doubt, I will not be attending. Our car is so important to us between normal shopping and then, filling it up with animal feed. That’s why we have a people carrier. Really need a feckin’ lorry. Lol. COYBIG.

     

     

    Weefra HH praying to Wee Oscar.

  21. Kickinthenakas,

     

    my condolences to you and your family,

     

    prayer will be said for you tonight

  22. Take it if we don’t offer two year deals to 31 year olds …. Wee Maloney with be a 1 year deal as well?

  23. prestonpans bhoys on

    Cold games, Clydebank in the 70’s, game stopped at HT. Even the brass monkeys had no balls……..

  24. 16 roads - Celtic über alles... on

    2-2 game against ICT, Saturday the MIBS went on strike – Temperature hit minus 15 in Glasgow by the time the game had finished.

     

     

    Paddy McCourt scored a wonder goal and Daryl Murphy had a perfectly good goal called offside.

     

     

    Fresh it was.

     

     

    HH.

  25. HT

     

     

    You really have my mind boggling on that one. Woooooohoooo. HT naked. Hahahaha.

     

     

    Weefra HH praying to Wee Oscar.

  26. HT,

     

     

    It’s at those times you question your sanity and the idea of summer football sounds great. Coldest ever playing football was out in Strathy park, grass parks at Hamilton end. They were wide open to the elements and a snow blizzard started, whiteout conditions, all other games abandoned about 20 minutes before ours, don’t know what the ref was thinking. Big mate who took the team, was about 20 stone, was covered in snow at the side off the pitch. Looked like a giant snowman. Took us about half an hour in the shower afterwards to get thawed out. Times like that you question your sanity, oh the love of football right enough.

     

     

    HH Dan

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