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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2 nil Gunners
2-0 Arsenal.Giroud header.Woeful Man City defending.
joe harts a breest
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
——-//———-
Good shout and a welcome reminder that fitba is a sporting contest …meant to be enjoyed by everyone, regardless of result
Email sent to Accies
2-0 to the Arse!
Got bets on for 2-2 & 3-2….didn’t see this coming.
Jose will be wetting himself !
T4
2-0. Giroud.
Good weekend for Jose so far, whose team played some of the best football I’ve seen in any league this season, in the first half away to Swansea yesterday.
Ann Budge won’t make a statement because SPFL, SFA, polis and Scottish Govt. will be marking her card.
E-mail sent to Hamilton…
Just reading the following comment on Spiers article today, we seriously need to have the club do this.
“We’ll see if Scott Brown presents the Rangers captain with a penant at Hampden next month. Celtic traditionally give a penant to a club the first time they play them.”
HH!
Lennybhoy
Very sad news.
Sincere condolences to Kickinthenas and family.
tontine tim,
Breest, you making words up like myself does :))
Kickinthenas
God bless you and your family at this time.
Take care.
Lennybhoy
KITN ,,,sincere condolences on the loss of your mum,God bless her.
Lenny – thanks for letting us know about Kik’s sad news.
Thoughts with the big man and his family at this time.
T4
Kickinthenas
May your Mum Rest in Peace,thought s and Prayers with the family.
PJ
Ellboy-i am neil lennon ynwa.
I think you know if Scott Brown or any other Celtic employee did this the media in this country would have a field day.Although i agree with this suggestion it will never happen.HH
deepest symathy to you and your family Paul KTF Hebcelt
kickenthenas. May your mum rest in peace and may perpetual light shine upon her.
kitn
very sorry for your loss
thoughts and prayers said at this sad time.
The day that I have to fear telling the truth…is the day I chuck it.
Huns and old firmers don’t like truth….well that’s just tough.
They can do what they like….it wont change the fact that Rangers are deid.
I even love saying it….Rangers are deid.
And look….im still alive.
HH
sips
I don’t pretend to understand the economical side.
I do know that the Rangers were propped up by MIH etc and it’s all coming out in the wash, whilst his lifestyle hasn’t changed, he’ll keep his phoney baloney knighthood, yet his loyal workers are screwed, and the football club he ran into the ground, eventually croaked.
The business side of media Scotland will print it, the tabloids helped cause their demise.
The writing was on the wall when he underwrote £50,000,000 in shares in 200* when nobody else bought them.
There’s yer dinner” © Paul67
Kitn
Condolences and thoughts with you and yours
zico-maltese bhoy
I think it’s a brilliant idea one that I think would give the Celtic support a clear indication of how we see them as a club.
Penant simply needs to say – Celtic FC v The Rangers
Not sure if Paul67, Auldheid or if anyone on CQN has a contact at the club to perhaps suggest this as a possible scenario?
HH!
Kickinthenakas.
Sorry to hear of the loss of your mum.
Prayers said for her and for you and your family.
Stay strong mate.
Kikinthnakas
Thinking of you and yours at this sad time big guy.
YNWA
bsr,
Don’t worry too much about the pension fund – the govt will guarantee 90% through the Pension Protection Fund.
Mind you, I wonder who ultimately funds that?
Murray and the BOS personify everything that was and is screwed in our corrupt wee sceptred isle.
Condolences to kickinthenakas on his mum’s death.
Sad news.
Ellboy. Im not a gambler but I dont think Celtic will comply they are to close to all that has and is going on at Ibrokes in my opinion. H.H.
Any thoughts on the veracity of the supposed interest in Tal Ben Haim, a left winger? Does this make sense when we have signed GMS from United?
Rebus
Kickinthenakas, condolences on your sad loss. May she rest in peace.
Garyg,
And Partick on the 8th April.
bournesouprecipe
17:39 on 18 January, 2015
CORRECT…….when he had to buy the £49m shares, that was my BROW-RAISING moment also……it should have been the meeja’s also, but very pleased they hailed it as a wonderful development….!!!!
Kickinthenakas,
Thoughts with you and yours mate
Ktf.
kikinthenakas is my best pal on CQN, a great ghuy and a great Celt. So a one off break from my 3 month Sabbatical to say how saddened I am by the news of his Mother’s passing. Thinking and saying a prayer for all your family P. May Heaven be her bed.
Kickinthenackas,
Sorry to hear about your mum, I know from experiance of late, how hard it is, stay strong mate. HH
Ellboy – I am Neil Lennon, YNWA.
17:42 on
18 January, 2015
zico-maltese bhoy
I think it’s a brilliant idea one that I think would give the Celtic support a clear indication of how we see them as a club.
Penant simply needs to say – Celtic FC v The Rangers
Not sure if Paul67, Auldheid or if anyone on CQN has a contact at the club to perhaps suggest this as a possible scenario?
HH!
——————————-
meanwhile at heated driveway mansions, a ceo sees a cunning plan
“whats that you say pedro”
“market this game as the first ever ”
“and sell a lot of memorabilia saying so”
celtic fc v the rangers
hhhmmmmm
Ghuys,
Passed on your messages to Kickinthenakas, he said thanks and will try and read them later.
Keep the Faith!
Hail Hail!
So sorry for your very sad loss, kickinthenakas. May your mother rest in God’s peace….
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
——-//———-
Thanks Joe and everyone else for answering the call. These days it’s easy to complain and moan about our game, but a real opportunity here to acknowledge a wonderful gesture by the accies.
Condolences to KITN, eternal light grant unto her, may she rest in peace.
Hail! Hail!