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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. Doc – I agree that the “same club” is an insult to our intelligence – I merely point out what the world will report.

     

     

    So talk of boycott is futile – I will be supporting the Celtic at Hampden as I have done for over forty years – nothing that happens or comes out of Ibrox will EVER change my mind.

  2. Alfie Noakes

     

     

    perception doesnt change a reality

     

     

    the reality is a constant but perceptions can and do change

     

     

    HH

  3. 67Heaven .. CHALLENGING THE LIE ..I am wee Oscar / Neil Lennon.. Ipox belongs to the creditors on

    Bawsman ……HH

  4. The green man

     

     

    It just goes to show what Scottish football can be like. The wee fella brings the best out of everyone.

     

     

    Hail Hail

  5. A beautiful human gesture by Hamilton Accies….that’s what football is all about.

     

     

     

     

    Hail Hail

  6. thomthethim for Oscar OK on

    BobbyM, et al,

     

     

    It doesn’t matter what the individual motives are for being there, the message given out and reported, twisted or not, is the opposite of what a half empty stadium would purvey.

  7. Delaneys Dunky on

    Estorilbhoy

     

     

    Thank you for posting the Hamilton e mail address. Just thanked them for restoring my faith in Scottish football. Heartwarming gesture from a fine wee club. Made my visit to New Douglas Park, very enjoyable.

  8. I wish that people who respond to my posts would actually read and understand what I say – if they did they probably have no need to have a go at me – not that I mind, of course.

  9. Alfie Noakes

     

     

    I feel sorry for you, that you are totally divorced from reality.

     

    You only want to see the Rangers….but you cant, because they were LIQUIDATED….HA HA.

     

    You can watch the lie if you like, but you know the truth……and really you should know better

  10. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    THE GREEN MAN

     

     

    Are you suggesting Alfie ‘deserves better’?

     

     

    Subtle…

  11. BMCUWP

     

     

    Its like talking to a pile of sawdust…not much point.

     

    But still….if they want to pretend, they can carry on.

     

    I will laugh long and hard.

     

     

    HH

  12. Delaneys Dunky on

    BMCUW

     

     

    Got off the train from Hamilton at 1 minute past 3. Did not get our accumulator on. Grrrr.

     

    My son had 2-0 Celtic @ 6/1 though.

  13. Dena, indeed they do – I hope that over time the ‘REAL’ story of the corruption, cheating, tax evasion and credit defaulting that has gone on at Ibrox for THIRTY YEARS, will be accepted by the world at large.

     

     

    However when you look at the ‘dogs breakfast’ of Murrays so called empire, and how his family have managed to reap new wealth and benefits from it’s collapse – one wonders if there is the appetite within Scotland, our bigoted and sectarian excuse for a modern country, to tackle any issue that reflects badly on the WATP establishment.

  14. saltires en sevilla on

    Lennys passion

     

     

    ‘Royal Flush’ …like it :-)

     

     

    All of a sudden King has a winning hand

     

     

    Methinks a mighty big ‘ if ‘

     

     

    KTF

  15. a light insanity on

    I know I shouldn’t be, but I am stunned about how little attention there has been paid by the Scottish media towards the events of Friday night. The scenes were shocking.

  16. Alfie Noakes

     

     

    Am I seeing things…your post is saying exactly what a lot of us have been saying for a long time…thank feck you have put us straight eh.

     

    CQN never knew anything until you arrived.

     

    Oh great one.

  17. EE J IT :-)

     

     

    Jamesgang

     

     

    14:53 on 18 January, 2015

     

    speyside lhad

     

     

    14:35 on 18 January, 2015

     

    anyone else love to see Sammi back for the 2nd half of the season (or longer).?

     

     

    ——

     

     

    Yeah. Cowiebhoy. Never shuts up about.

     

     

    Sammi, Sammi, where’s ma Sammi. Got to the point the doc just gives him the auld ‘dry yer eyes’ treatment.

     

     

    ;_ -)

     

     

    HH jamesgang

  18. Joe Filippis Haircut on

    The accies are going to get a shock tomorrow when they open there in box thanks to Estorilbhoy and CQN. Once again it shows the warm heart of the Celtic Support and the warm heart of Hamilton accies watching the video of wee Jay lapping up the chants of the fans brought tears to the eyes of this old man.On Friday night we saw all that is bad in Scottish football but Hamilton accies and all the fans in the ground on Saturday showed how it should be well done bhoys. H.H.

  19. Kompany has these games sometimes, where he is just a disaster. Should’ve been sent off by now.

  20. garygillespieshamstring on

    Geordie

     

     

    Emerald b

     

     

    United game is only home Sat game.

     

    Sheep game after Milan trip moved to sunday. 1st Feb game postponed due to sevco game.

  21. Ghuys,

     

     

    I have some sad news to bring you this evening, Kickinthenakas ‘s Mum passed away this afternoon at 14:35.

     

     

    Please remember her and the Family in your Prayers.

     

     

    May God Bless her Soul.

     

     

    Keep the Faith!

     

     

    Hail Hail!

  22. BMCUWP,

     

     

    B&S was were I served my time and stayed for a few years after, I could tell you stories of that place, it’s where I work now I was on about, I seem to pick them :))

  23. KevJungle – Only fools believe Celtic are run by snowmen

     

     

     

     

    10:48 on

     

     

    18 January, 2015

     

     

     

     

    The day that TB(RIP) announced that he was joining the Scotland set-up, I felt as though sumdy had just walked over my grave – spooky stuff.

     

     

    *don’t often agree with you…but I do this time….also think that bader has to be a 32 degree goatshaggers or a member of the speculative society…..he’s come a long way from being ayrshire’s harold steptoe

  24. Delaneys Dunky on

    JFH

     

     

    Izzy gifting his shirt to Jay at the end and the wee man screaming at us in the Main stand, “I got Izzy’s shirt!” Topped the day off for me. Wonderful.

  25. Tricoloured Ribbon on

    joe filippis haircut

     

     

    17:13 on 18 January, 2015

     

     

    The accies are going to get a shock tomorrow when they open there in box thanks to Estorilbhoy and CQN. Once again it shows the warm heart of the Celtic Support and the warm heart of Hamilton accies watching the video of wee Jay lapping up the chants of the fans brought tears to the eyes of this old man.On Friday night we saw all that is bad in Scottish football but Hamilton accies and all the fans in the ground on Saturday showed how it should be well done bhoys. H.H.

     

     

    ………

     

    Well said Joe.

  26. bournesouprecipe on

    Maybe it could be that Celtic fans are expecting ‘statements’ due to the fact Celtic supporters are up for charges for basically singing the square root of F@@@A@@, while thousands of ‘them’ sing openly sectarian and banned songs in full view of the Police who proceed to lift said Celtic supporters?

     

     

    ItsAnotherScandal CSC

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