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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Árd Macha
21:35 on
18 January, 2015
No greater smell in the house than a great big pot of stew.
Ard Macha
and a big heel opf a nutty crust……. could sleep easy just thinking of it :-)))
HH
Ard mhaca
I prefer joe mal
GB64-Always worse when it is someone so young, HH
Ard macs
I prefer joe malone pomegranate noir myself
opf=of
doh
Evening CQN!
Been off-blog for 8 days and catching up – did I miss anything or has it been the usual Groundhog J?
Kickinthenakas – sorry to read about the loss of your Mum.
TET shocked to read about Jan – glad that she’s on the mend (email you tomorrow).
Thoughts and prayers with ALL going through sad or difficult times this week.
H!H!
RIP Callum, sad loss for his family.
the only one piece of action in Bremen that night was when McGhee hit the bar,if a remember right.
dena29
21:33 on 18 January, 2015
It’s ma stag doo, arranged for months, was gutted when I read P67s article the other day, it’s just a few Bhoys out for a bevy watching Cheltenham racing, my young nephews still want to bunk off to Prague but my daughter has already hid my passport, my saving grace is the 3 of us are off to Samta Ponsa for the “honeymoon”
dena29,
Tomorrow’s dinner sorted:-)
Ard Macha
What is the Stars
Not very filling though:-)
Ard Macha
Kickinthenakas sincere condolences on the loss of your mum.
Gb 64 tragic loss condolences mate.
Both in my prayers tonight.
Pedrocaravan
Trying to contact you mate
Question you asked -10 am Wednesday, St Aidan’s
HH
Just seen the bad news about Kikinthenakas mother and 25 year old Calum. Thoughts with them and everyone connected with them.
Also saw some comments about Souness EBT and transfer fees paid to the original Rangers.
Maybe Mike Ashley will be able to investigate and reclaim some cash for Newcastle if the fee was overstated. Now, wouldn’t that be interesting? Another couple of millions for the 3 Bears to fund?
Gerryfaethebrig nice one .I am going there on honeymoon in july too . HH
Evening Timland from a snowey hun free mountain valley.
Kikin
Sad news mi amigo.
HH
…………………
RIP Calum, far too young.
HH
……………………………………………………
Young Ryan Gauld just came on for Sporting, made the 3rd goal, nearly set up another, all within 5 mins, missed a trick there me thinks.
………………………………..
P
She is much better, as grumpy as eff, aff the cancer sticks, always a positive :)
HH
Paul
Thoughts and prayers for your Mum and all your Family
Also God bless Callum, who is no longer suffering that dreadful disease
Grief is the last act of love we have to give to those we love.
Where there is deep grief,there was great love.
Bremen was freezing that night,but Rosenberg away takes some beating.Had to break the ice off the seats.
Kickinthenakas
Scrolling back. Sorry to hear the sad news on your Mum. May God grant her eternal rest and may perpetual light shine upon her.
Gerryfaethebrig
ooppss not much you can do about it
my reason is a christmas present from my daughter a trip to Las Vegas(her idea not mine)
not returning until the 13th raging
Árd Macha
enjoy….. get the knutty crust in lol
HH
Hamiltontim that is a scary thought my friend naked snowboarding.
Sipsini that you got a lumber for CQN 11 jtt.
I have 5 at the moment going mate still waiting on a few replies.
HH
KTF
UTLR
Saltires en Sevilla
Thanks for that, Murdochauldandhay got the info to me via BMCUWP’s.
Really appreciate it mate.
Cheers.
MT
You know I like to give you thoughts to go to sleep with sir :-)
bremen:
Don’t mind it being particularly cold.
vague memories of fish (herrings?) getting sold outside the ground.
Maybe the zombies could start that here.
Lyon wad cold, very, very cold. Having to rough it didn’t help.
Aye like my head is not messed up enough mate.
HH
KTF
UTLR
gerryfaethebrig
21:31 on 18 January, 2015
No he does not fill me with confidence he will change it.
Your name came up in The Admiral yesterday. We’ll need to catch up for a pint.
Keep the Faith!
Hail Hail!
Dena29
Watch “the hangover” before u head out….might give u a couple of ideas for stuff to do out there. Mike Tyson operates an open house policy apparently!!!
Enjoy yer trip.
Night night all.
HH PC67
TET
Not grumpy – tantalising!!! :-)
Tell her I was asking for her – catch up with you by email tomorrow.
Take care both of you.
wicklowbhoy in bavaria
21:47 on 18 January, 2015
Congratulations when it happens
We are going 1st week in April, canny beat Santa P, even better the Hoops are away to St Mirren on the wedding day then playing on the Wednesday when in Santa P, so can work the wedding/honeymoon around 2nd most important thing in my life 1. Daughter 2. Celtic 3. Future wife…. Hail Hail
(she is a Sevconian so hopefully doesn’t lurk)
WITS
what I meant to say at the end there was……
Goodnight Jim Bob ;-)
praecepta
21:41 on 18 January, 2015
You get my messages?
Keep the Faith!
Hail Hail!
lennybhoy
21:56 on 18 January, 2015
gerryfaethebrig
Whit ???? Hopefully in a good way
You have got me worried !
Lennybhoy
Got your text messages – will get back to you ASAP.
Definitely 2 – but likely to be a few others (now that I have had an audience with the Wean and she has checked her diary). :-)
H!H!
dena29
21:50 on 18 January, 2015
How good is this site, am raging I need to go to my stag doo and you are annoyed about going to Vegas, if P67 reads this take another well deserved bow !
Kickinthenakas and young Callum, thought’s are with you both tonight.
.
Just back from EK where I spent the day at the playdrome for my grandson Leon’s %th birthday. Went to Mass at St Leonard.s at 12 before we went and I have to say it was a really welcomming and enjoyable expierence.
I gave up on religion a while ago, been to Mass to few times but only as I was expected to go as it was Christmas etc.
Today though I actually wanted to go as I wanted to pray for someone I met last night, it didn’t seem right just saying things in my head and hoping someone was listening.
I know it makes no difference where you pray but I felt the need to actually do t in church, so glad I chose St Leonard’s, it was a bit different from my own parish. I spoke breifly to one of the priests on my way out and mentioned I hadn’t been to Mass for a while, maybe it was because he didn’t recognise me but he said something that made me laugh and it’s kept a smile on my face all day.
I really don’t know what tomorrow will bring for me or more importantly the young girl I met last night but I feel more positive and empowered than I have in a long time.
R.I.P Young calum, tragic loss thoughts and prayers to all concerned.
PJ
RIP Calum
No parent should have to see their child go before them.
pedrocaravanachio67
:-)))
The size of my suitcase I probably could get a tiger in alright,
HH