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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I rememver game v St Johnstone -cha du ri scored late equaliser -around 27/28 dec -9 at cp -couldn’ae get to the half time pies quick enough hh
16 roads – Celtic über alles…
23:39 on 18 January, 2015
petec
23:29 on 18 January, 2015
————————————-
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.
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Aha ~ take on me ~ it is never about fighting, we would have talked out of any fight, the best always do that.
The Entity that currently controls this World, wants us all to hate and hurt one another.
I watched a pretty brutal film last night, it said a lot, it emphasised the sickness of this World. Cheap Thrills, a pretty gruesome film in all Honesty.
The androgynous deity manipulating thought.
Well, Sod them and gonorrhea.
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
If it’s the computers move and it can only move into check it’s a draw
!!Bada Bing!!
23:35 on
18 January, 2015
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.
=========================
EBTS by Rangers were embarked upon as a matter of Ranger’s employee remuneration policy. This was decided at a meeting including Sir David Murray and Campbell Ogilvie in September 1999.
Shortly after in September 1999 Ogilvie instructed a firm in Jersey to pay Craig Moore using an ebt based on a Discount Option Scheme (DOS). There was NO side letter as it was a one off payment.
This DOS based type of ebt turned out later to be an illegal means of tax evasion and for which Rangers accepted liability in March 2011 as a result of correspondence taking place in 2010 for certain, but possibly starting earlier, from HMRC justifying seeking payment beyond the 6 year limit.
De Boer and Flo were remunerated as part of their playing contracts from 2000 to 2003 under DOS, which involved side letters whose existence Rangers/MIH denied to HMRC in 2005.
It was this denial that allowed HMRC to pursue payment outside the 6 year limit. The same letters were kept from the SFA and only Flo’s was supplied to Harper MacLeod in March 2012 investigating their use since July 1998 when SPL began.
The ebts of big tax fame still in dispute with regard to their legality happened in 2002/03 starting then or thereabouts.
It is possible Murray Holdings (whatever they were called) had used ebts before 1999 but for football purposes they began life in September 1999 and if Fraser wants the proof I can supply.
Speedy Puncher
Sympathy to Kitn and family, and prayers that your mother may rest in peace. God be good to her.
auldheid-thanks for your reply, IMO it is/was the lack of appetite from CFC, to pursue the truth in all matters re Oldco, which is dividing a lot of the support right now.What is wrong in looking for the truth?HH
Kickinthenakas,
Sad news…thoughts and prayers with you and your family.
YNWA.
bournesouprecipe
17:16 on 18 January, 2015
Paul67
The left brogue challenging the right brogue?
—————-
Snigger. “Oh, you are awful.”
Off to bed.
I raised concerns I had as soon as it was talked about, The Celtic Triangle.
That is WitchCraft, Freemasonry, all the mystery Religions.
Thankfully it is called the Celtic Way.
Wake up?
Power corrupts.
Stay vigilant to signs that are occultic.
FFM,
Every Celtic Supporter should be very Suspicious of this Celtic Board.
Coldest game ever for me was Rapid Vienna away under Tony Mowbray.
Had full high quality ski thermals, plus two layers and was still absolutely Baltic.
From memory, James Forrest made his debut that night, although in truth I was so cold, I can’t remember.
petec
00:26 on 19 January, 2015
What the …!!?? ….. Hahahahahahaha
Hiding the square and compass from the Sandy Lane jetskis, efter it being exposed previously.
Ronny Deila has my Full support.
Valencia away – (the Celtic Park beamback) – flippin perishin’
67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors
00:32 on 19 January, 2015
petec
00:26 on 19 January, 2015
What the …!!?? ….. Hahahahahahaha
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You obviously never looked at my links, over the years.
I don’t blame you. Dark stuff and not to be looked at if you are a happy clapper, I’m definitely one, oh the irony. ;))
Oxfam saying next year
The wealth of the top 1%
Will overtake the wealth of
The remaining 99%.
HH
Peter ….. Hahahaha ….HH
Condolences to Kikinthenakas and gordybhoy on their respective loss. E-mail forwarded to Hamilton.
When did it all start going wrong for oldco ?
https://twitter.com/tirnaog09/status/556930238207107072
16 roads,
Now I might be a bit of a fruitcake on here,
but chess bring it on man.
Don’t look at the board, look at the opponent.
Fear sets in early..
topkat
22:56 on 18 January, 2015
The Police must be dreading this encounter….and they have the powers to stop it……
…..
Stop what ffs.
Have we got some shit bags amongst our ranks.
52,000 pound debt to police written off.
Who gives a flying feck about the police, Sevco et al.
We are playing a new club for the first time.
Let’s demolish them.
Annoys me that people go on about attacks on our fans.
The Scum’s first team have been doing it day one.
From day one.
We are undecided about signing Michael Duffy from Derry City.
Celtic were in Gran Canaria whilst the lad bagged two goals against an experienced Newcastle team with Krul and Guittierez in their team.So Ronny doesn’t know what’s what.
Duffy is going to England in the morning for another couple of trials as Celtic haven’t contacted him since.
Anyway, I’m away tae ma bed.TAL.
tricoloured ribbon
01:32 on 19 January, 2015
topkat
22:56 on 18 January, 2015
The Police must be dreading this encounter….and they have the powers to stop it……
…..
Stop what ffs.
Have we got some shit bags amongst our ranks.
>>>>>>>>>>>>>
I would suggest the anxiety is aimed at young innocents being assaulted inside / outside the stadium and across Scotland, not for hard men like yourself ….. think you might find a wee visit to the A&E of your nearest hospital on the Sunday evening interesting / enlightening.?
67,
From the day I was born these animals have been the same.
Hardmen ffs wise up.
Of course our fans have to be alert.People have been on about not playing them.
Do you think we should just concede the game and roll over?
Anyway first and foremost another victory over Motherwell in midweek.
3-0 to the champions.Griffiths hat trick.
Goodnight Tims.TAL.
Kickinthenakas take care mate, sorry to hear about your Mum, may she rest in peace and be with you every day. Sad news also about the young man Callum, life can be too short. Thoughts with his family.
Coldest game was about four years ago . I was home for Christmas and took in every game I could get too, Killie mid week, had plenty of thermals on. thick woolen socks but my feet were like ice blocks, solid cold. The GB were outstanding in an empty stadium and Celtic completely dominated an 11 man killie defence who broke with a sucker punch for a 1-1 draw. Can still see there one and only attempt at goal, it was like watching slow motion. The best teams don’t always win and thats fitba.
Hammer the Well and get back opn top where we belong Celtic.
Good Morning to all from a sunny North Cyprus.
Busy day ahead for me, and then starting out tomorrow on my way back to the Algerian Sahara.
Should be safe out there from the Hun Hordes on the 1st of February!
HH
And still the usual suspects have a go at the board – they can’t wait to get reflections of the latest game over, in order to regurgitate their bile.
I have said before, these agitators and mischief-makers are somehow envious of the turmoil at Ibrox – they want some agro for themselves, and will dream up anything in an attempt to split our support. We don’t want, and more importantly, we don’t need these ‘doom merchants’ in our family.
We all know that the team is not 100% – it never can be, given the financial restraints that we work under – we are all aware that we don’t always get it right in the transfer/loan market, however – Brown, Commons, Izzy, Mathews, Hooper, Ki, Wanyama, Forster, VVD, Denayer, Gordon, Johannsen and now GMS, represent excellence and far outweigh the ‘projects’ that did not make it.
A running commentary on Sevco’s plight from Celtic would counter-productive and would only drag us into the shit with them – we just could not make a better job of ‘stuffing’ them than they have done, and are still doing, to themselves.
Ronny is doing at least as well as Neil did in his first season – let’s enjoy this new and exciting approach, which is aiming to turn us into a modern European side.
Kickinthenakas –
Sorry to heat about your mother. Thoughts and prayers for you and your family at such a difficult time.
Hope to share another pint with you in the Tavern before long.
Take care and Hail Hail.
Good Morning Timland.
Kickinthenakes……sorry for your loss,take care pal.
bada Bing@ 00.12hrs.
Totally agree.
Reading back, Very sad again last night. Condolences to all the families.
HH.
Kickinthenakas
_____________
So sorry to read yer news pal
thoughts and prayers for all who
are close at this sad time.
Young Calum
___________
Just so sad to read that.
Many angels have left this place
before you son, they’ll take good
care of you, so sad.
Nye Bevans’ rebel soldier
_____________________
Good morning Oh Ghreat Whan.
Have a ghood day.
Hail Hail