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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Limited number of tickets available from Celtic for Ross County away this Saturday. First come first served.
Saint Stivs
10:25 on
19 January, 2015
My only observation on “loanees” is, they are the players who cant hold down a position in a first team elsewhere.
They are the discounted goods rack.
Marked down , in the hope of moving some stock.
Same for us, moving our fringe players on.
Maybe in the past,but not now.FFP,and squad numbers have given the EPL a thump.Thats how we got Guidetti and Denayer from City.Chelsea have more out on loan than on their staff!!!!!.
Can we pick up more like Denayer?.He was already valued at £10 million then.
I would prefer to be a citizen of this country rather than be classified as a subject of the crown.It surprises me that Celtic supporters want recognition and honours bestowed on Billy McNeill.Jock Stein and others from a tainted and unelected institution.
The achievements of Glasgow Celtic don,t need some Royal seal of approval.
http://www.republic.org.uk/
Modern life ———–
In Pozzallo earlier — @ 250 newly arrived ” boat people ” milling about the port area . Men ,women , babies , unaccompanied minors .. Chelsea tops, Real Tops , Arsenal tops ..A daily event .
Much media noise re increased security in Italy following the events in France . Today’s increased security appeared to be 2 Carabinieri sitting on a wall , eating panini and reading the Fitba Pink.
Tricoloured Ribbon
10:30 on
19 January, 2015
If, and it’s a big if, the glib and shameless liar and his cohorts manage to oust Ashley there will surely not be a problem for King to pass the fit and proper person scenario.
We already have a convicted VAT fraudster sitting on the Sevco board as it is.
As far as I am aware no they dont.The other snow white brother is on the board.The ex-con has no seat on it.I heard the SFA had already said no,thats why he is not a board member.
Not all loanees are unwanted by the club.
The unwanted ones are usually sold.
Keane, Bellamy, denyer, super guidetti, Sammy, Broto, holy goalie and Big frazer were/are decent loan players imo.
Except Broto, who wasn’t a loan. Doh.
Loanees can also be younger players unlikely to get first team action – that’s why we got Denayer.
We also loan players out to lower league clubs in Scotland. The fact that the EPL loans to us shows where Scottish football is in the place of things.
Gordon_J backing Neil Lennon
QPR loaned AC Milan a player whilst they were in the English Championship.
England is bloated on TV money and paying their players far too much money. Average players are making crazy sums whilst the top performers or the players with the best PR for their occasional excellent goals or games can make ridiculous monies.
LB
Interesting statement from FC whateverthyerecalled to the LSE
If the glib one thought he had Michael on the backfoot the statement suggests otherwise, it should also drag the governing body into the argument re who can sit on the board……. Shouldn’t it?
the gloves may well be off in the ongoing fight for what’s left of the carcass.
Gordon and livi,
Stop right there! Rewind!!
Are you trying to say we aren’t the only club on the planet who do loans??
Next you’ll be having us believe they are not all stunning successes :p
Can someone help me to understand the following?
1.In February 2012 Strathclyde Police Chief Constable Stephen House said if his force were not paid what they were owed by rangers fc (for their game v Killie….you know the one with the sectarian singing still being investigated?) and paid up front for future games,his force would not police games at Ibrox.
2.rangers played a further 5 games at Ibrox that season,all were policed
3.Today it has been announced that Police Scotland have written off £52,000 owed to them by rangers.
What could possibly have happened that resulted in the Chief Constable be made appear guilty of mendacity?
£52,000 of taxpayers money written off and they accuse US of receiving State Aid.
Could they not at least have used some of the money they stole from their own charity to pay their “brithers in blue”?
Probably been answered but asked over weekend Why
Sheep v Staggies is only missing mid week fixture.
I thought because sheep play St J on Friday but actually
because they play each other 7th FEB when a lot of SPL playing
in Scottish cup.
uselessinfoarewe.
Geordie Munro
Sevco do loans. Just not for players.
LB
Che,
As I said earlier only one of the Easdales has a seat on the board.
Lb,
Tidy :))
Livibhoy
I know.and keep on posting any topic mhate.This topic, a knighthood etc is imo part of the poltical ‘flail’ Jim has in remarketing the Labour party. I see it as using our club and its legendary captain for it own populist gain, and that apart, at this time for some,its all about association with our club.
Hope your good.
:-)
HH
SFA probably kacking themselves with regards the prospect of having to say yes or no with regards King and Murray.
The term “real Rangers men” is freely bandied around without ever really being defined. What is the profile of a “real rangers man”…
White, Scottish, Presbyterian, Bigoted, Egotistic…. Any advance on that ???
LiviBhoy@ 11 49.
” QPR loaned AC Milan a player ”
Indeed ! -Tarbaat . Italian media are claiming that Inter are trying to swap him for M’Vila ( if Rubin Kazan agree ). Inter take Tarbaat on loan and QPR take M ‘Vila.. M’Vila is on loan from Rubin Kazan . Money Rubin Kazan paid for M ‘Vila = 12 million euros..
Turkeybhoy, sorry missed that,
That’ll be the one without a criminal conviction? how would they view eg information from a south African court?
White, Scottish, Presbyterian, Bigoted, Egotistic…. Any advance on that ???
tax avoider
loyal to the pound not the crown
Tim Malone Will Tell
Skint and free use of OP Money would be the main criteria I would imagine…
An Tearmann
All good mate.
I don;t see the point in Billy being knighted now myself. The time this should have happened to Billy was 1967 along with his gaffer. The whole English cricket team were knighted for winning the ashes which is a 2 team tournament.
I don;t know what Jim Murphy is suggesting this for. I would imagine it is to try and appeal to both Celtic and Rangers fans for the up and coming General Election.
LB
Tim Malone
Scrofulous
I asked the SFA about Dave King’s ability to pass a ‘fit and proper person’ test:
Good morning Darryl,
Does this man pass the SFA ‘fit and proper person’ test?
http://www.telegraph.co.uk/sport/football/teams/rangers/11178590/Dave-King-expected-to-reveal-status-of-his-16million-Rangers-takeover-by-Thursday.html
Regards
John
There is no such thing as a test. This is a myth. There are criteria that are considered when a member club initiates a proposed change in directorship.
Darryl Broadfoot
Head of Communications
Scottish FA
Don’t you just love folk fae Airdrie
ELESS Scots crook staged what might be the worst hold-up ever – after stuffing tissues in his mouth to try to hide his accent.
Douglas Stewart, 48, also glued bits of paper hankie to his face to disguise himself.
That was unlikely to work, since he’d been a regular at the bookies he was trying to rob until he was barred. The cashier recognised him instantly.
Bosses told Stewart in a letter that he was no longer welcome and he scrawled his robbery demands on the back of it.
He then left the letter – complete with his name and address – on the shop counter when he fled empty-handed.
Just in case Stewart hadn’t left enough evidence, he took off his disguise outside the shop in full view of a CCTV camera.
And a “closed” note he stuck to the shop door at the start of the raid had his finger- prints all over it.
Stewart raided the Betfred shop in Torquay, Devon, at 8.30am on August 27 last year. He had no shoes and odd socks.
He mumbled something at the cashier which she couldn’t understand because of the tissues in his mouth and his strong Airdrie accent, then gave her two bits of paper.
One said he had a bomb in his bag and wanted money. It told the cashier to give him the keys and lock herself in the toilet.
The other said ex-soldiers had the shop surrounded.
The cashier said she was calling the police. Stewart left when she set off a panic alarm and was arrested soon after.
Stewart pled guilty to attempted robbery. Exeter Crown Court heard he had 72 previous convictions and moved to Torquay after being jailed for robbery in Scotland.
Paul Dentith, defending, said his client was a heroin addict and the raid was more of a cry for help than a serious robbery attempt.
But judge Phillip Wassall told Stewart: “You have to consider it from the position of the cashier. She was scared for her life and I can see why she was.
“You pose a continuing risk to the public.”
HH
I’m sure that Mr Conflicted Ogilvie and his like will be trying to avoid making a decision on Messrs King and Murray. The current board want to remain in power, so it is in their interests too.
Has King erred by putting himself and another unfit and improper person up for the Board? Surely he has a couple of other friends??
Gordonj
Unless of course the subject was discussed at the informal meeting with ND?
An tearmann and livibhoy
Shameless populist nonsence that isn’t even thought through properly.
Weetweetweet
Lol
Made my day.
HH
This morning’s statement from RIFC implicitly rules out King – there is no need for the Celtic to soil their hands – hope the malcontents will take note.
Che,
Could be … but I think the SFA would rather dodge the issue than have to make a ruling
OK DARRYL.will his criteria be considered.
King has always said”He does not see a problem with the fit and proper test”.Only he has said that.Either he is at it,or he is a balloon.He has left himself wide open to his nemesis,Ashley,in trying to take over the board.
If anyone wants some light,hilarious reading,go on to Hun media,Boardroom and finance section.
Priceless.Innocents abroad.
Gordonj
They may have a challenge doing that now that Michael appears to be hacked off, they should all reach a compromise and invite that nice guy Whyte back.
skyisalandfill
Not sure what you are getting at there to be honest.
LB
DARRYL DARRYL. would DOUGLAS STEWART formerly of AIRDRIE and now of HMP TORQUAY have his criteria considered.
I dont usually do predictions,but I will make an exception today,
King is a busted flush,
Aberdeen will drop more points on Friday night.
There ye are.
From the BBC:
“The SFA would only become involved upon being notified of a change of director. Among its “fit and proper” criteria, over which the board has discretion to decide on an individual’s ability to act as a director, are whether he “has been convicted within the last 10 years of (i) an offence liable to imprisonment of two years or over, (ii) corruption or (iii) fraud.”
Or “been a director of a club in membership of any national association within the five-year period preceding such club having undergone an insolvency event”.
King and Murray would have to argue mitigating factors, with the SFA’s professional game board likely to hear their case.”