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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dena29 & Gerryfaethebrig
Think yourselves lucky!
I’m having to reschedule……………… lights, camera, action!
ColonoscopyCSC!
:-)
I’ve heard various artists sing this over more than 30 years but this is the best version I’ve heard.
http://youtu.be/13MQFCfCYdQ
Haha Gerryfaethebrig you have it all worked out . Hope it all goes well for you both . mine is end of June and early July for Ponsa . Doubt the future Mrs is lurking i thought all Sevconians were in hiding :)
HH
EddieinKirkmichael
Lovely wee post pal.
eddieinkirkmichael
no recriminations just whatever gets you through enjoy it for however long it lasts
HH
praecepta-welcome back,doing Nebosh next monday for 2 weeks,thanks for leads last week HH
praecepta
Ahhhhh clenching as I write :-((
HH
I was at a January midweek game about 8 years ago, Stirling albion v Dumbarton, temp below zero. Whole body shaking with cold despite being well wrapped up. Actually quite scary.
Crowd was about 300 and I had practically a whole stand to myself. Stood up to try and heat up a bit, but was immediately shouted at by a steward and told to sit down. Sadistic bassa.
Judester-i think Gerry Creaney missed a sitter with a couple of minutes left in Bremen? A free header from about 8 yards out?HH
TBJ will be enjoying the score in the first divisional title tonight in the NFL. Still a bit to go though.
Malorbhoy@21.48 and Eddie@22.02
Heart warming posts ghuys.
HH to you both.
gerryfaethebrig
In a good way. Went to Santa Ponsa in 94 for my honeymoon. USA World Cup, the night ROI beat Italy nearly ended the honeymoon but 20 years later still going strong.
praecepta
No worries mate.
Keep the Faith!
Hail Hail!
eddieinkirkmichael
22:02 on 18 January, 2015
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.
—–
Hi Eddie, hope u and the family are well.
Nice wee story. I get that feeling every week when I go to mass that’s what keeps my faith for me and my family, nice to hear you had that feeling, hope it continues. KTF :)
Rest in peace kiks mam and young Calum
May perpetual light shine upon them
Coldest game , Rosenborg away ,
Remember looking out of plane window when we arrived and it was nice n sunny ,
for a minute you thought you were in spain !
Soon as we got off it was baltic , freezing cold ,
Remember leaving pub to go to the game and the whole town was
white with frost.
As usual it was a craking trip apart from the result and price of bevvy !
Found the rosenborg fans very friendly , like to go bak to trondheim
with bit more money next time !
!!Bada Bing!!
You’re welcome.
Got a SMSTS renewal to do before end March. Think this will be the last one……………. can’t see me swinging off scaffolding when I hit 70! :-)
Another cold one I remember
Forest away
but I think that Killie game was worst.
We were desperate to get above the hvns
so played that night when debatable game
should have been played.
Ended up dropping more points.
The cold weather lasted a couple of weeks and
a week or so later hvns were calling out fans tradesmen
to help them get new years day game on.. We were dreading
because of injuries and suspensions.
Up stepped the Greek God….
Bada
Before Gerrys time?
wicklowbhoy in bavaria
22:07 on 18 January, 2015
There isn’t many but I can assure you she is one of the best, secretly she wants to be one of us, the nearest she can get is me & her wee Celtic mad daughter Hail Hail
Highlight of the season so far was the 6-1 demolition of Dundee United.
Our manager and his crew are doing a grand job, all things considered. His first season at the helm was always going to be difficult, but now things are beginning to look good.
Back Ronny!!
HH.
Jc2
Aye Forest was baltic. Not a good trip. Pubs shut from 2 till 6 I think.
Walking about all day with cans looking for a boozer open.
Herded into the ground like sheep too by the local plod on horseback. Very dangerous.
Goodnight Timland might catch up again later
KTF
HH
All these self made millionaires that must have something going for them, why oh why would you choose to get involved in something so toxic?
BCW -Might be mate,1989 i think Bremen? Someone missed a sitter late on…..
praecepta-you’re far too young to sit about and do nothing :))HH
Marrakesh
The cops at Nottingham were a devious shower. Wouldn’t let my bus go to Nottingham direct, made us detour further down the Mway and approach from the south.
Lennybhoy,
that game indeed finished a relationship I was in,
I went to the world cup in USA,but only told the girl
I was going out with 2 days before,needless to say she wasn’t waiting at the airport when I got back
Evening tims.
Just watched the BBC official highlights of yesterday’s game. Highest ever attendance at NDP. This Armageddon is murder eh. Pity we can’t fill Celtic Park though.
At the end of the highlights video at the end there is a LOTR stylee billboard still, with some suitably intimidating soundtrack depicting the two club crests. Makes my skin crawl, knowing that any resultant trouble will be reported as OF shame and wee Nicola and her cohorts will see it as justification of the OBAF act. If I had my way, Celtic would volunteer ably withdraw from this game citing reasons of fears for personal safety of club representatives and fans.
It would sure get people’s attention.
Emailed Hamilton to thank and congratulate them on Jays appearance yesterday.
Kickintheknakas
So sorry to hear about your dear mum. Stay strong pal.
Thoughts also to Young Calum’s near and dear. So young.
HH
Bcw
That was a wee taste of the hooliganism era down there.
Or maybe they expected us to be like our warmongering neighbours.
16 roads – Celtic über alles…
22:21 on 18 January, 2015
Highlight of the season so far was the 6-1 demolition of Dundee United.
Our manager and his crew are doing a grand job, all things considered. His first season at the helm was always going to be difficult, but now things are beginning to look good.
Back Ronny!!
HH.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Your mobile isnae recognised, when I try to call it.
It’s all about the Treble, the Bass is Fundamental.
16 roads – celtic über alles…
22:21 on 18 January, 2015
Totally agree, he is still in 4 competitions, if he fails then people can fill their boots, until then just support the team, I want him to play two up front but that matters not a jot, let all the doom & gloomers post when we are not in 4 competitions, some fans/people will be happy if Ronny comes up short… Not me, if Ronny does good our club does good and that’s good enough for me
(too many goods ?)
After the crush to get in at N Forest,a policeman was bagatelled through the gate in front of me and collapsed holding his chest,i started loosening his tie to prepare for CPR ,another policeman tried to drag me off,thinking i was attacking him.After a quick search i found his inhaler,he was asthmatic……he came round after about 5 minutes,that was a potential Hillsborough that night.
#justiceforthe96
I’ll email you it again petec, must have got one of the digits wrong mate.
It’s the easiest number in the world to memorise, however I am very capable of stupidity sometimes.
I can safely say that we are going to win the league now my friend, despite my concern a few weeks ago.
Why?
Because we have far too much class, that’s why.
HH.
Eddieinkirkmichael @ 22:02
Thank you for that lovely post – very meaningful. It’s made me realise that sometimes you can go through life belonging to a religion but having no faith. It’s through hard times and other people’s example that your faith grows. Thank you for your example tonight.
HH
Posted earlier a discussion on Ian Frazer’s FB page, I then asked if he would continue to persue the issue of RFC and Murray.
Very interesting reply from Ian, he states EBT’s started in 1988. What does he know? BTW I have it on good authority that Ian is currently researching a book about the Murray years at RFC
Edward Rice It’d be good if you could further explore the role Murray played in the demise and ultimate liquidation of RFC
2 hrs · Like · 1
Edward Rice Naomi do you have link for the podcast?
2 hrs · Like
Ian Fraser I agree Edward, but space was limited. It’s definitely something I intend to cover in future. My immediate thoughts are that funding the club using generous on overdrafts and (non recourse?) loans from HBOS and using EBTs to pay the players and staff in 1988-2011 was a recipe for disaster. It was described as an act of “financial vandalism” by Graham Speirs as long ago as 2002. And as for selling his controlling stake to Craig Whyte.
Postponed cos of the weather…….will never forget the game which had to be played at Brockville….back in time= 50 years ago……continuous frost for about 2 months…..then game finally got the go ahead for the Wednesday evening…….big John McNamee scored that night (centre half)……smashin big player…….seldom mentioned on here…..think he was a Coatbridge guy.
Hello Eddieinkirkmichael,
Hope that you have found the comfort and strength that you need.
Hope that the young girl has found a warm safe place for tonight.
Condolences to all who are missing a loved one tonight.
Eddie in North Cyprus
gerryfaethebrig
22:32 on 18 January, 2015
————————————-
It’s all good chief.
I’d be still delighted if we only the league, anything else is a bonus.
HH.
Bhoys/Ghirls,
thanks for your thoughts and prayers for Calum
and his family,
time for my cot now,goodnight