Rangers International’s advice to shareholders, issued last night, for next week’s General Meeting is legally spot on. They have read the contract but they’re not reading the narrative.
As they say, the club would not be bound to repay the £5m loan from MASH if shareholders vote in favour of doing so. Repaying this loan may not be in the interests of “shareholders as a whole” (I dispute this).
In asserting these views, and winning the vote on the matter, Rangers International will surely not surprise MASH.
When someone as thorough and well-resourced as Mike Ashley puts resolutions in front of you, when his motivations are “not clear to the directors”, you have to consider if you’re in a Rope-a-Dope scenario.
Without knowing anything about Ashley’s plans, I can give you an assurance that he will expect shareholders to vote against his resolution. He is asking for his money and expects this request to be declined. He is also asking searching questions about the events which led to the succession of the current board. I do not expect him to be satisfied with the answer.
The real question is, why has Ashley engineered a scenario where he has made a legitimate request for repayment and been rejected?
If you think next week’s meeting is about winning the vote you could not be more wrong. The cynic would say Ashley wants justification for what he’s about to do next.
Those shares in Rangers Retail Ltd (RRL) which are due to be returned from MASH to Rangers International on repayment of the loan are currently worth 26% of RRL. I wonder if they will be worth more than 0.1% of the company this time next month.
This is a classic Rope-a-Dope. Pay him his money, do it quickly, secure as much of your Intellectual Property as you can, as quickly as you can. This is not a matter for brinksmanship. You stupid, stupid, lemmings are walking off a cliff. Again!
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timbhoy2
In fairness to Celtic they’ve tried to improve facilities outside the stadium but within what’s called the ‘footprint’. Sadly, GCC (but mostly through the intervention of Police Scotland) have rejected proposals.
I see all the sweetie wife’s getting there knickers wet on the Saudi deal, same old same old, predictable negatives, and board bashing, I wonder if they think about them when they are putting petrol in there car, you got to laugh honestly HH.
Nice one yorkbhoy.
Is link up with Saudis a wind up?
TD67,
I hope you’ll agree that I am not usually to be found among the board bashers. I am, however, most certainly against our tie up with a team from Saudi Arabia. Imo, it goes against everything we stand for. It looks to me to be simply another way to make money. Not in my name.
Canamalar
14:14 on 4 June, 2015
&
Parkheadcumsalford 16:51
Hear Hear
TD67
Is there anything that Celtic could do that would make u and some fellow posters even mildly critical?
tonydonnelly67
16:46 on
4 June, 2015
I see all the sweetie wife’s getting there knickers wet on the Saudi deal, same old same old, predictable negatives, and board bashing, I wonder if they think about them when they are putting petrol in there car, you got to laugh honestly HH.
At least they can get their knickers in a twist here.
Probably find that knicker twisting, unless accompanied by a male, is an offence in Saudi
I think the Saudi tie could provide a pipeline for new talent coming to Celtic Park -though could be awkward for them playing in dufflecoats! [thats just in july!]
TBB
Downsize.
Leave Ibrox and play at Hampden or Love St?
If this reality does not bite, another will and will swallow them lock, stock and two smoking barrels.
As long as Celtic don’t ever again have to engage in a who pisses highest contest with them I’m not bothered but until that happens I want to know what they are up to.
Excellent post by Barcabhoy which Speirs has picked up and retreated.
That in itself is interesting.
Could they restart as Third Rangers or Third Strangers if MA has the naming rights?
Doubtless PL will tell the naysayers to keep politics out of football and Celtic in particular.
That is unless your name is Reid or Haughey.
You can’t beat the ole Arabian nights at Parkhead.
I believe that after Friday prayers in Saudi is somewhat different from after Sunday Mass entertainment here.
Be oil you can be !
‘is entitled to use the Scottish club logo as provided Terms of the partnership agreement.’
I really hope this is a mis translation from the saudi clubs site
sold out Celtic allinging our club with another living in an brutal land stuck in the dark ages
Please Oh please tell me this is all a wind up.
Hoping for a good transfer window – time to say goodbye to that diesel do attitude.
TD67
I believe the majority of fuel for my car comes from the North Sea. Only a fraction of our fuel comes from the Muddle East. The price of that fuel is set mainly by the cabal of OPEC but the fuel does not come from there.
So another analogy would be good to support your uber support for our PLC.
MWD said AYE
burghbhoy
16:57 on 4 June, 2015
TD67
Is there anything that Celtic could do that would make u and some fellow posters even mildly critical?
Yes, make you chairman :)) actually no, not really I trust the board to run the club the successful way it has for many years.
bournesouprecipe
15:57 on
4 June, 2015
Glib Shameless liar, wasn’t at the match last Sunday he allegedly prefers tennis as he can watch a match without moving his head.
——————–
bsr……yir a bad mhan :O)
tonydonnelly67
17:12 on
4 June, 2015
burghbhoy
16:57 on 4 June, 2015
TD67
Is there anything that Celtic could do that would make u and some fellow posters even mildly critical?
Yes, make you chairman :)) actually no, not really I trust the board to run the club the successful way it has for many years.
Is llnking up with anything associated with Saudi a price worth paying for success?
TD67
At least if I were Chairman the club would be run in an ethical way.
As I said earlier, there are some on here who if Celtic announced a charge for using the toilets at Celtic Park , would be lining up some sort of justification.
Celtic set to announce a new sponsorship deal with Mecca Bingo.
HH!!
From rejecting the Living wage to linking up with a team from a country that commits human rights atrocities , to having a war criminal as previous Chairman, to remaining quiet on the cheating of the now deceased Rangers.
Yes, we really are ‘ a club like no other’
Perhaps a video link to Friday afternoons in downtown Riyadh might engross the happy clappers.
Burghbhoy
If we duct taped you from head to toe you’d still do a better job than Bankier.
tonydonnelly67
16:46 on
4 June, 2015
There’s a difference. If I need to run a car, or use any other form of hydrocarbon based transport I have no choice on where the fuel comes from. If I could use a guaranteed ethical fuel I would.
Celtic have a choice as to whether or not they do a deal with a club from Saudi Arabia.
Burgas Hoops
I’m really in despair at this news today.
We really are selling our soul.
This is just the latest in a long list of embarrassments for our great club, perpetrated by our supposed custodians.
If I didn’t love the club so much, I wouldn’t bother!!
Thanks for your endorsement.
I’ll throw my hat in the ring at the next AGM!!
HH
Had to laugh at this in the comments section of todays Herald.
and just think if king billy returned to ireland today he would be able to marry one of the many men he loved,but only in the southern part but not in the 6 counties where he is most esteemed.
I hear a Saturday night oot in downtown Riyadh is a right hoot.
Not a woman in sight.
Except members of the ruling dynasty covered from head to toe in the finest silks.
HH!!
Phil reckons Murray Park costs 10M a year to run. I said many times it would have been the first thing I done, get rid. Things can work from there, it’s do or die (again) time.
Oh dear. Wait ’til old Ramadan Bharfwaj and his fellow tabloid hacks get their teeth in to this. They’ll have an oil-field day!
Celtic to open stores in Saudi, possibly, in the future?
All male staff of course.
HH!!
Does this mean Pitta Grant may be on his way back?
Can’t wait to hear the Green Brigade’s version of Foggy Dune.
Deals?
Proddy Hilaria
Or
Saudia Arabia
Celtic could have walked in to a sand storm of their own making with this. Many on here have already taken the hump.
Rumours that Lionel Mezze is on his way