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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Jamesgang,
Would that OBE the “old bleating eejit” award? hope Yer well pal, good to see your bringing your lovely lady to CQN 11, jtt’s my date :))
gordybhoy64
20:45 on
18 January, 2015
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
**
RIP Calum.
gordybboy64
will do
RIP Callum – so young
prestonpans bhoys
20:47 on 18 January, 2015
Cold games, Clydebank in the 70′s, game stopped at HT. Even the brass monkeys had no balls……..
I was at that one. 1977. 1-1 at half time when they abandoned it. Pitch was like Crossmyloof ice skating
gordybhoy64
So sad ……..my mum had a saying…………
“if we all put our troubles in a bowl we’d be glad to pick our own out ”
a very true saying we all complain but you never know what others are dealing with
R.I.P. Calum
Weefrathe Tim you’ll be rocking up in a tractor and trailer if the weather doesnt improve lol
really hope you make it on Wednesday give a few hollers for me lol
Minx if your lurking …… control him …. naked snowboarding omg :-))))
HH
16 roads – Celtic über alles…
Remember that game, the Refs strike. Think it’s the only time I can remember the ref being applauded onto the park. :o)
HH Dan
Song for kris
http://m.youtube.com/watch?v=cLQJVKP3YlM
exslaemuirbhoy
20:46 on 18 January, 2015
Burghbhoy
was that before or after Newcastle paid £8mill for boumsong
Funny that eh?
Think he took Tugay off their hands at Blackburn as well.
I’m sure merely coincidental !!
dan
20:48 on 18 January, 2015
Strathy park was lower down than was it Whitehill or something, the ash parks behind Hamilton Pitz, we played there on a Saturday morning in a blizzard, the ref said it was playable because he could see the lines ! Didn’t help our strip was green & white with a 4-leaf clover as our badge, not many refs liked us, and that was Saturday morning fitba, it’s the country we live in !
dan
Yip, and we are prepared. :-)))
gene
Yip and loved every minute of the past 29 yrs. :-)) I really wish other townies, like us, would take the chance and have a go at rural life. It can be so rewarding. IMHO of course. I do realise it will never suit some people. In fact, most people. :-)) It’s a hard life at times, but the rewarding times outweigh the hard time 100%. Seeing new life coming into the world is worth it’s weight gold. Only IMO of course. KTF.
Weefra HH praying to Wee Oscar.
RIP Calum
Such a young age.
Prayers for his poor mother
prestonpans bhoys
20:47 on
18 January, 2015
Cold games, Clydebank in the 70′s, game stopped at HT. Even the brass monkeys had no balls…
—————————————————-
Aye the days before they had undersoil heating and tractors to clear the pitch of snow……hmm that reminds me of something quite recent….
RIP Calum, sad for someone to be taken so young.
Kris my Son – your shout pal. Sign for one more season and we will give you the best part of £1mil for the honour and then we will give you the same for a one year extension if both parties are happy after that first year. Not such a shabby deal as some would have us believe, they believe we are being disrespectful, you have stated you would like to stay so stay. If you go thanks for the memories.
Burghbhoy
Often wondered about some of the transfer fees paid to died co from past employees.
Thought it was paranoia mind you, naw a didny a knew they were up tae nae good
Gary67
You are right like the North Pole, when you took a slash into your tennents empty and turned it upside down, instantly frozen :0)
dan
20:54 on 18 January, 2015
————————————–
Indeed.
The match officials where from Iceland or somewhere like that.
They had a fine game apart from the mistake that cost Murphy his goal.
HH.
Gerryfaethebrig
20:55 on
18 January, 2015
dan
20:48 on 18 January, 2015
Strathy park was lower down than was it Whitehill or something, the ash parks behind Hamilton Pitz, we played there on a Saturday morning in a blizzard, the ref said it was playable because he could see the lines ! Didn’t help our strip was green & white with a 4-leaf clover as our badge, not many refs liked us, and that was Saturday morning fitba, it’s the country we live in !
—————————————–
Yep Whitehill buddy. Lol, I can imagine not too friendly reactions to that strip.
HH Dan
RIP Kickinthenakas’ mum, and young Calum. Sad, sad news for any family.
KTF
HH
BGFC
gordybhoy64
20:45 on
25 is no age, but young or old it’s still heartbreaking, thoughts and prayers with Callum’s family
Rest in Peace
Calum
16 roads – Celtic über alles…
That’s true, it was refreshing just to see a match refereed in a fair fashion, and you knew it was an actual “honest mistake”
Strange times.
HH Dan
gordybhoy64
That’s heartbreaking.
Prayers said.
HH jamesgang
kickintheakas – my thoughts and prayers are with you tonight!
Prayers also offered for you Callum’s family and friends!
Life can indeed be cruel and at these times I genuinely feel blessed by my faith.
Marspapa lovely to see you yesterday hope Mrs Marspapa is on the mend!
DD lovely to see you and meet your bhoy a lovely young Mhan.
Loved seeing young Jay all credit to Hamilton Accies fantastic gesture from them!
GordyBhoy64,
RIP Callum, sad loss for his family.
67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors
15:39 on
18 January, 2015
glasstwothirdsfull
15:31 on 18 January, 2015
Turkeybhoy 15:24
Did they stop Ashley because of the rules, or did they stop him because they wanted King and the bears to own the club/company/whatever?
>>>>
Nail head hit squarely…….the whole thing is a joke, and the SFA is now a joke also ……. Won’t be long now until this all comes to a head
If that were the case then we would be involved in it.PL sat on the panel that stopped Ashley.
I dont want to think this,so I dont really know were we would go if it were true.
Think there is more to come.Ashley is up in front of the panel again next week.
Werder Bremen away coldest ever for me, specially as it was my first and last time I wore the Hoops to a game…..short sleeves…..
Regarding the foreign refs, did they not fly in but leave without taking charge o a match ?
May be the old vino tinto playin havoc with my memory
Burghbhoy, 20:43
Yes, he was asked by AT.
Strangely shy off the pitch for such a strutting thug on it
Dan
Game v Killie midweek….
I think that game was called off on the previous Saturday, because the surrounding area at Celtic park had slippy pavements!!! We had snow from the start of December and remained till the end of January. The temperature on the Saturday wasn’t too terrible, but the rearranged game was Baltic, i had to leave at half time with the wee man, he was freezing, quite sure when we got back to the car it was -12…..pavements were bloody treacherous that night also!!
RIP Callum
And condolences to kickinthenaka’s, May yer mum rest in peace.
gerryfaethebrig
20:41 on 18 January, 2015
Play any of our Strikers with a Partner and they’ll score goals. All about systems mate.
Keep the Faith!
Hail Hail!
ExSlaemuirBhoy
21:05 on
18 January, 2015
Regarding the foreign refs, did they not fly in but leave without taking charge o a match ?
May be the old vino tinto playin havoc with my memory
—————————————————————————–
Think there was one from Israel who did an about turn at the Airport, but think that was the only one.
HH Dan
gordybhoy
Sorry, missed your post.
RIP Calum. My god, he was just a boy, hardly lived his life. Is there justice in this world???
Weefra HH praying to Wee Oscar.
RIP Callum.
Watched the highlights of the Sheep v Dundee game on Alba last night – Scottish football at it’s best, reminded me of the old days.
Armageddon eh?
Far truer version of the sport than that synthetic EPL product anyway.
HH.
OG Rafferty
He wasn’t shy at taking money from the Sun either.
JFT96
Mention of Rogne whatever happened to him?I know he went to England – Bolton/Wigan? but what then?? Hail Hail Hebcelt
gordybhoy64:
Rest in Peace Calum, my thoughts and Prayers with his Family, may God Bless his Soul.
Keep the Faith!
Hail Hail!
Lennybhoy,
Yip stop playing 4 2 3 1