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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Oiche mhaith codladh samh.
Ard Macha
hamiltontim
22:06 on 18 January, 2015
Cracking version, Sinead can hold a note, can I request her to give “Grace” a wee try
16 roads – Celtic über alles…
22:38 on 18 January, 2015
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.
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Hamilton and even the Dandy Dons, Dundee Utd and a few others will ride the ride.
Especially when Satan is getting incredibly desperate, visibly.
I’d never heard of Walter Veith, watched it tonight, I’d say that encapsulates my WHOLE moonhowling crap on CQN.
Love is important.
It will be very difficult to take on board if you are rigid in a Catholic/Universal Faith.
The End Times are here.
Jesus Christ is the only person that was Perfect.
He died to take away the Sins of the World.
Until we meet again…
Keep the Faith!
Hail Hail!
TOPKAT
Wasn’t John McNamee captain of Newcastle last time they won something?
16 roads – celtic über alles…
22:46 on 18 January, 2015
Totally agree, but I want the fans/people who are quick to give Ronny stick to grudgingly give him praise, if we just win the league it will be labelled he should win it anyway… But some people will be unhappy for the sake of being unhappy, I think Ronnys needs a full season, judge him this time next year after the treble & a wee jaunt to Warsaw (I dare to dream)
Heard that there was a bit of an Aberdeen love-in on Sportscene. I didn’t see it, bu imagine had we lost 3 goals at home.
Ard Macha
The Police must be dreading this encounter….and they have the powers to stop it……
bobby murdoch’s curled-up winklepickers
Bobby Moncur was captain.(Scottish also)HH
No inquest into Aberdeen’s soft penalty, and the third goal was off side
petec
22:50 on 18 January, 2015
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Ye are preaching to the converted on that score my friend.
I am not one for praying, however I give thanks to God each and every day.
Jesus Christ is our saviour, without a doubt.
Haven’t been to mass in ages though, pure and utter laziness on my part.
HH.
Just watched this and remembered, its only a game of fitba’
Crazy band and video, but gets me welled up every time.
http://youtu.be/lPXWt2ESxVY
eddieinkirkmichael, 22:43
His reply could mean that EBTs started in 1988 but I think his reply more likely means that
it is the loans from HBOS that start in 1988 and (together with) the EBTs cover the period 1988-2011.
Ask him to clarify it.
16 roads – Celtic über alles…
23:09 on 18 January, 2015
petec
22:50 on 18 January, 2015
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Ye are preaching to the converted on that score my friend.
I am not one for praying, however I give thanks to God each and every day.
Jesus Christ is our saviour, without a doubt.
Haven’t been to mass in ages though, pure and utter laziness on my part.
HH.
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I’ll Blootooth you in Belfast. :))
Bluetooth Chess is a free Android app.
Over the weekend, I’d like to give you a wee game, if you fell for that Apple crap, tut tut, it isnae available.
Stipulation being, we play after 10 rounds.
GLASGOW CELTIC – Champions.
gerryfaethebrig
22:55 on 18 January, 2015
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Stranger things have happened mate.
To win a Treble in his first season would be a remarkable achievement.
We have the players and the coaches to make it possible.
HH.
Watching Sportscene…..have Cowdenbeath always wore that strip ????
I thought Sportscence stared covering the Ayrshire juniors !
ZICO-MALTESE BHOY
Indeed he was,my mistake.
Yip Aberdeen equaliser was offside
And I rate Ryan Jack
Stubbsy getting rave reviews there
Did he apply to replace Neil :-)
Hail hail and nytol
Statistics show that in the modern game managers make very little difference how a team fares. It’s the amount spent on players that’s the biggest factor.
….so the league is in the bag. Night night.
Thanks petec.
Sony is my brand of choice, mainly because of the music.
Been playing a wee bit of chess recently, but it’s doing my head clean in – I could have seven pieces left on the board, computer just has a king left, next thing the computer calls the game a draw fs! How can that be possible? The computer is cheating me, obviously.
Like the solitaire also, very good game.
HH.
Went for a wee nightcap and caught last quarter of American Football semi final, brilliant stuff
Great game of football in Seattle – extra time now
16 roads – celtic über alles…
23:23 on 18 January, 2015
That’ll be the SFA edition. Just makes its own rules up!
16 roads – celtic über alles…,
Blame the ref;))
16 roads – celtic über alles…
23:17 on 18 January, 2015
Agreed…. Hopefully he can BUT like you SPL is the main thing the cups are a bonus, SSB & the journos like to slag Neil last season about his cup record and getting beat by Morton, what they all forget is we were still involved in the CL at that time, nobody every mentions that when Neil’s cup record is mentioned…… A cup final is a good day out, doubles & trebles if they happen good if not I wont lose any sleep…. In fact I have got the school run in 540mins so I better get some shut-eye
For everybody out there take care, God bless & good night, and for the ones aren’t with us they are in a better place but never far away from us
16 roads – Celtic über alles…
23:23 on 18 January, 2015
Thanks petec.
Sony is my brand of choice, mainly because of the music.
Been playing a wee bit of chess recently, but it’s doing my head clean in – I could have seven pieces left on the board, computer just has a king left, next thing the computer calls the game a draw fs! How can that be possible? The computer is cheating me, obviously.
Like the solitaire also, very good game.
HH.
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I cannae wait to spend a few hours with you again, going mad.
You are Fearless, I saw that in Glasgow City Centre. ;))
NigelBenn.csc
Game set and match Seattle
Seattle steal it, great stuff ,16-0 behind for a long time
southside
23:27 on 18 January, 2015
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sipsini
23:27 on 18 January, 2015
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Very good.
:-))
HH.
fastbhoy
23:07 on
18 January, 2015
No inquest into Aberdeen’s soft penalty, and the third goal was off side
=========
I thought so too. First time I had seen it.
No Luck TBJ
I thought Green Bay dominated for a long time then Seattle hit a streak.
Funny that the guy that dropped the ball – Bostik!
gerryfaethebrig
23:28 on 18 January, 2015
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HH.
kickinthenakas
Sorry to hear of your loss.
gordybhoy
Sad news……so young rip Calum
o.g.rafferty
23:13 on 18 January, 2015
eddieinkirkmichael, 22:43
His reply could mean that EBTs started in 1988 but I think his reply more likely means that
it is the loans from HBOS that start in 1988 and (together with) the EBTs cover the period 1988-2011.
Ask him to clarify it.
If wee Fergus was still at CP, he would have made sure the huns were charged with everything they were liable for.
Green Bay Quick News in meltdown – all Romnys fault for not playing Commons
petec
23:29 on 18 January, 2015
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Couldn’t fight sleep P.
Too many whiskey = Dutch courage!
I’m blaming those two rockets Mozza and ACGR for leading us astray anyway, a parcel of rogues! ;)
Really looking forward to meeting yous all again in the neat little town they call Belfast.
HH.
southside
23:23 on 18 January, 2015
Statistics show that in the modern game managers make very little difference how a team fares. It’s the amount spent on players that’s the biggest factor.
….so the league is in the bag. Night night.
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I’ve just watched Arsenal hump Man City so excuse me for disagreeing :-)