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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kickinthenakas
Very sorry to hear your sad news
Thoughts with you and your family
Take care
Mcgregor does it again in the ufc
Easy 2nd round win for him
Really is the complete show man.
Kickinthenakas
Terrible news. May God gives strength to you and to your extended family to go through hard times. Rest in Peace Kickinthenakas Mum.
Kickinthenakas
Sorry for your loss
It’s a cold yin in the bishops toon.
Good morning CQNers,
Kickinthenakas, my sincere condolences.
Good morning friends. East Kilbride remains snow covered however it’s a clear skied, dry and very very cold start to the day. Windscreen scrapers at the ready…
Rangers board announce to AIM, they may have to allow stadium to be used as collateral for a loan.
HH
I read with dismay the DR report of Stokes commenting on the newco game …” I have had fans coming up and telling me if we don’t win four or five nil then it will be a bad result!”
What we definitely don’t need is any more players making themselves and the team hostages to fortune with such stupid comments about hat-tricks and five goal victories.
I hope that LG stays in place as the main striker.
The space that he creates by drawing the defenders towards him is pure canny.
Anys striker can play off LG coz he has the ‘cuteness’ required to be a Celtic striker.
RD had a guid shape to his team on Saturday and should give them a run if, hopefully the players can avoid injury.
The jury is still out re: RD but, he seems to be getting more tuned-in to this Celtic thingy but, again…a couple of slaps on the chin and, the wolves will be at the door again!
Hoooooowwwwwooooooollllllll
Our custodians could learn a few things from the way Hamilton Accies run there club,
it was great to be treated as a supporter of a football team.
And still the usual suspects have a go at the support and demand unquestioning compliance typical of the hun mindset that killed off their club – he can’t wait to get reflections of the latest game over, in order to regurgitate and highlight his stupidity.
murdochbhoy
07:32 on 19 January, 2015
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If I was RD…I’d be putting a lid on the dressing room re: what they talk to the media about.
If Hamilton Accies are street-wise then, they’ll know that after their sporting/humanitarian side that they showed to Celtic folk on Saturday they should expect to be on the receiving end of a host of ‘honest-mistakes’ such is the way of it in these parts – imho
I’m quite happy for the players to talk about hammering the new club and why shouldn’t they.
kickinthenakas –
My sincere condolences on the very sad loss of your mother.
KevJ –
I don’t think it’s RD’s style put a blanket ban on players talking to the media.
Canamalar,
The only person who managed to talk about hammering someone else with style and humour was Mohammed Ali, he was a one-off, me, I’d much rather see our players do their talking on the park.
How a billionaire plays poker,
From Sevco this morning:
“The Company is currently verifying that the Notice is properly constituted. If valid, the Board intends to seek to have such Notice withdrawn in order to avoid the cost and disruption of an ad hoc general meeting. The AIM Rules require that all individuals appointed to the board of an AIM company are suitable to be a director of a UK public company.”
I’ve got to go…..
God bless all Tims.
I hear somebody is pushing Jo Inge Berget into Legia Warsaw.
Hubris
Contributed to Hun downfall
Do talking on the pitch, where it counts.
HenkeCSC
CATHEDRAL VIEW
Board pointing out to King that that forcing an EGM in order to have himself co-opted onto the board is a non-starter due to legal impairments?
I’m surprised he never saw that coming.
murdochbhoy
07:32 on
19 January, 2015
I read with dismay the DR report of Stokes commenting on the newco game …” I have had fans coming up and telling me if we don’t win four or five nil then it will be a bad result!”
What we definitely don’t need is any more players making themselves and the team hostages to fortune with such stupid comments about hat-tricks and five goal victories.
—————-
im not sure why you seem to be having a dig at stokes here
he wasnt saying we will win by five goals
he is actually having a small dig at fans who are saying to him about winning by that margin or it wouldnt be deemed a good result
What we definitely don’t need is any more fans misrepresenting what players are saying and doing the daily records job for them
So looks like the Sevco board are questioning the suitability of King and Murray to be directors under stock exchange rules.
This could get very nasty and we should all sit back and enjoy the forthcoming bloodbath instead of constantly shouting for Celtic to get involved.
Foghorn Leghorn –
You are spot on and that is exactly how I read the situation.
Stokes was obviously cautioning against the fans’ complacency.
murdochbhoy
07:49 on 19 January, 2015
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Well, when it comes back and bites his bahooky, he might have a rethink?
I hope it dizny bite his bahooky btw – dont want to see him running up n doon the touchline in his nicks again:)
murdochbhoy
07:52 on 19 January, 2015
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Sorry for being late with replies
God Bless U2.
KevJ –
You seem unduly obsessed with the image of Ronny Deila in his “knickers”. Hardly a day goes by without you mentioning it.
Have you got a picture of it under your pillow for those cold and lonely sleepless nights?
:-)
Tom McLaughlin
08:10 on 19 January, 2015
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Ha, well….we’ve all got skeletons in our cupboards or, under our pillows, eh.
Wouldn’t it be grand if RD slipped down to his briefs after the LCSF when he’s on the pitch at the Celtic end, greeting his adoring, jubilant, hunskelping fans.
It would be even grander if he wore, green & white hooped briefs :)
HH
Canamalar
07:35 on
19 January, 2015
And still the usual suspects have a go at the support and demand unquestioning compliance typical of the hun mindset that killed off their club – he can’t wait to get reflections of the latest game over, in order to regurgitate and highlight his stupidity.
——————————————————————————————————————–
VANITY
=======
It was vanity that killed Rangers – a slow but inevitable death over a period of nearly 30 years.
SANITY
======
Sanity – this is what keeps our club ‘alive and kicking’ – our model has been copied, with success, by the like of Aberdeen, Dundee Utd, Hearts and Hibs, albeit on a much smaller scale.
There are top clubs in the EPL who would ‘break the bank’ to have Peter Lawwell as their Chief Executive – however he is a Celtic man through and through, and we are lucky to have him.
There will, in the future, be an opportunity to move to a structure more suited to our stature – until then we must stay strong, solvent and ALWAYS cut our cloth to suit.
We are in good shape!!!!
Murdo was saying the other day that, well…stuff that amounted to – Kenny McDowell is nobodies mug.
Murdo’s nobodies mug either btw – thats how Fergus hunted him and Wim – imho
Thoughts and prayers to kickinthenakas and Callum’s families.
We hear of friends and family passing away all too often on here, makes you appreciate what you have.
P
Ahhhh, so….if Celtic are in such good shape – why’s the park hauf-empty?
30k of fans – disagree with the shape.
“The Company announces that it has received a notice dated 16 January 2015 under Section 303 of the Companies Act 2006 (“the Act”) from New Oasis Asset Management Limited (“New Oasis”), a company 100% owned by the Family Trust of Dave King. The notice states that New Oasis holds 11,869,505 Ordinary Shares of 1p each in the Company amounting to 14.57% of the voting rights of the Company.”
1p?
Has King paid just 1p a share?
Sevco/the Rangers/Dave King/Mike Ashley/Quick News
Morning timdom from a delayed and very convoluted sleeper to London.
HH jamesgang
Blantyre Tim
__________
Get yerself back onto CQN.
If you dont – I will look for you – I will find you….
Off oot – on a mission….
So MON is another who thinks Scottish football misses Rangers (RIP) and says the punishment they received was “a little bit harsh”.
Is there a football player or football manager anywhere with a bit of intelligence.