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Playing poker with a billionaire

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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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  1. Thomthetim,

     

     

    I’m not so sure it says we’ve all missed them either.

     

     

    Most of my crowd are choking to go cos they have this crazy notion it will be a guaranteed cricket score.

  2. mighty tim supporting wee Oscar on

    Sipsini how’s things J. Yes hoping to get along to CQN 11. Waiting on some family members to get back to me if they are going. Podium chasing been there done that haha. How is things with you mate I see you are still laughing at the sevconians in your work. Keep it up.

     

     

    HH

     

     

    KTF

     

     

    UTLR

  3. Old Firm tickets like Gold Dust….yeah, they only want to see the Rangers…..thing is, Rangers are deid…..waste of money.

     

     

    HH

  4. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    Penalty to Arsenal for a body-check on player going for a one-two.

     

     

    Gough made a career of doing that.

     

     

    1-0 Arsenal,bus well and truly parked now,I expect!

  5. Although everyone likes to have an opinion, and Paul’s are nearly always very close to the mark; at this juncture we are in uncharted territory.

     

     

    I will stand to be corrected, but there has never been such a plethora of convoluted circumstances surrounding a football club in the UK.

     

     

    What we see, or, are allowed to see, is only the tip of a shit-filled iceberg.

     

     

    The Ibrox loyal originally thought that it would three years out and then business as usual – how wrong they were.

     

     

    This music hall joke could run as long as The Mousetrap – but playing to almost empty houses, and who knows, even in a different theatre.

  6. Ellboy - I am Neil Lennon, YNWA. on

    If Guidetti isn’t signing a contract I’d hope we’d sign another striker this window and send him back to City. We require a long term solution up front there’s no need to help the devolpment/career of someone else’s player.

     

     

    HH!

  7. Bada Bing

     

     

    Did not see your podium.Well done.

     

    Ps also well done on your CQN prediction of Celtic yesterday.

     

    As you know i took Abedeen.As far as i am concerned it was worth the £10 as it is for a great cause.

     

    As previously discussed before the games outcomes yesterday i will be buying back in but will not be selecting a team for next week.I was liquidated yesterday and by Scots law i cannot come back as another club.

     

    HH and all the best to the CQNr’s who are left in this great cause.

  8. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    ELLBHOY

     

     

    Correct. But if he scores the goals to win us the league?

  9. Ellboy - I am Neil Lennon, YNWA. on

    bobby murdoch’s curled-up winklepickers

     

     

    Can’t deal in hypotheticals only deffinites and if he’s not committed then we need to find someone that is.

     

     

    HH!

  10. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors

     

    15:45 on

     

    18 January, 2015

     

     

    ====================

     

     

    Many thanks for that. The dam is being breached at long last and the truth is seeping out there.

     

     

    Darryl Broadfoot advised me that the “fit and proper person test” was a myth when I asked him about it, I know he lied, it’s in their own rules.

     

     

    I simply posted what he told me, I know the truth, since when have the SFA used that?

  11. The Green Man – the perception among the Ibrox hoards, and their vast bunch of media sycophants, is that Rangers still exists – we are fed this daily.

     

     

     

    Perception is realty – so whether we like it, or, not – the world will witness Celtic v Rangers at Hampden – that is THE reality.

  12. Garyg,

     

     

    Are you Sure?

     

     

    I thought there was only a couple moved so far.

     

     

    I kinda hope there’s more :)

  13. Alfie Noakes

     

     

    I might be the reality to you.

     

    But to me its nothing but a fantasy….because as you are aware, Rangers were liquidated,

     

    So if you want to believe that Rangers still exist…I genuinely feel sorry for you.

     

    It must be difficult to tell your arse from your elbow.

     

    But carry on….you deserve it.

     

     

    RANGERS ARE NO MORE….Nae Luck

  14. Captain Beefheart on

    No interest in who owns Rangers. Our own club were mauled by Maribor,, have we learned any lessons? Another shambolic transfer window will ensure that I start gulping copious amounts of tranquilizers.

  15. Alfie, nah, sorry, an oft repeated lie remains a lie.

     

    Regardless of perception.

     

    That some accept the lie makes it no less a lie.

  16. Has the Dallas cowboys got together and agreed not to book any Aberdeen players in January 2015

  17. mighty tim supporting wee oscar,

     

     

    Doing well mate thanks for asking, I was talking to one of the long termers ( if that’s a word) in work this morning, I’m only twenty years there:(

     

     

    He was telling me that the metal shop workers got new overalls which was green and they refused to wear them, so the management got them ones of a different colour, if tbj is lurking he could probably expand on this as it will have been in his era.

     

     

    Hope yourself and family are well and I’ll see you at CQN 11. HH

  18. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    the green man

     

     

    16:37 on 18 January, 2015

     

    Alfie Noakes

     

     

    I might be the reality to you.

     

    But to me its nothing but a fantasy….because as you are aware, Rangers were liquidated,

     

    So if you want to believe that Rangers still exist…I genuinely feel sorry for you.

     

    It must be difficult to tell your arse from your elbow.

     

    But carry on….you deserve it.

     

     

    RANGERS ARE NO MORE….Nae Luck

     

     

    >>>>

     

     

    …..And you can take THAT to the bank …… HH

  19. Joe Filippis Haircut on

    An e.mail sent thanking the Accies for there treatment of wee Jay what they did on Saturday for the wee lad warmed my heart. H.H.

  20. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    captain beefheart

     

     

    16:39 on 18 January, 2015

     

    I don’t get the fuss about Anne Nudge. She won’t be pushed into any statements.

     

     

    >>>>

     

     

    She won’t make a statement since it wasn’t at Tynecastle…..the sevco boord should make a statement ……no, wait, they don’t do talking…….

     

     

    I’m more interested in when she is going to sort out her own home fans….

  21. Firstly, back in 2012 those media sycophants were talking about 140 years of history having been wiped out, writing headlines saying RIP Rangers FC, stating the facts, in other words.

     

     

    Their perception hasn’t changed, they’ve chosen to back Charles Green’s Big Lie, required for the sale of season tickets, to get the dosh in.

     

     

    The fact that the football authorities,on their websites and in their public pronouncements, have decided to go along with this too, doesn’t make the Lie real.

     

     

    The reality is that, while this goes on, the semi-final is a sham, and, if Sevco somehow survive, and get promoted, that will then be the same for the top-tier championship in which our club plays.

  22. Looking to be close but no cigar for the ole CQN Couponeers as Manchesity (copyright Gary Nevlille) leave the park t half time trailing Arsenal 1-0. Boooooo

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