SFA, The Offshore Game, flogging assets


The SFA surprised many by refusing Mike Ashley permission to buy up to 29.9% of a second club.  As I said earlier in the week, don’t get too hung up on this one.  Ashley could play The Offshore Game, like the anonymised Blue Pitch or Margarita, or he could just do what he’s already done, ignore the SFA and underwrite the share issue anyway.  What would the SFA do?

Well, they could impose the ultimate sanction, but that’s unlikely.  They could impose a heavy point penalty, enough to ensure the club are not promoted this season, and refuse to register signings of players older than 21-years.

It’s perhaps more likely that Ashley will loan the money required in return for whatever assets are left.  Oldco went out of business a few months after they were sold to a liquidation expert.  The path newco will follow down the lavvy will be different.  Like any other squeezed business, they will redeem assets, sell the training fields, and the stadium, before putting themselves into the hands of a liquidator.

As for long-term financial viability, does anyone think this looks likely?

Sale starts today on CQNBookstore, fill your boots!

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  1. Joe Filippis Haircut on

    Paul67. The Rangers are listing badly and the only thing that appears to be able to stop them sinking is Mike Ashley. I think they are in more trouble this time around and possibly will not recover this time. H.H.

  2. ArranmoreBhoyLXV11 on




    Morning all..



    Nice to see the players going to yorkhill hospital on Celtic TV..



    BROONIE,lovely with the young lad in the Sevco top..



    Looking forward to match tomorrow ..





  3. Would murray park be worth anything to anyone ? what could you do with it ? build house’s , plant tatties ?

  4. Anyway, great afternoon of football and horse racing ahead. Recording a fair chunk of it, so I’m off.



    Live update to your hearts’ content, bhoys, and enjoy Boxing Day.



    Hail! Hail!



    Boots being filled, Paul! Santa Wisnae Listening!

  5. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    How much is Ashley earning from his sports direct contract ?



    More than he is lending I suspect.



    Gaining control over the assets is allowing him to effectively own Rangers regardless of the size of his shareholding.



    The prize is Ibrox Stadium.



    Which is owned by ???????




  6. Aipple



    you’ll be impressed with the new Celtic Walkway, hope the team turns it on tomorrow

  7. Neil canamalar Lennon hunskelper extrordinaire on



    Cost of repairs ?


    No sure ibrox is the prize some are making out

  8. dae sevco no need to tell the London Stock Exchange who owns all the assets ? how can they place a value o 14million on the club if they don’t know who owns whit

  9. Awe_Naw_No_Annoni_Oan_Anaw_Noo on




    How else will they sell 30-40k ST’s ?



    Without that there is no viable business




  10. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    tricoloured ribbon



    00:41 on 26 December, 2014




    No chance they are deid pal.






    They certainly are deed, and the good thing about that is that ‘resistance’ can be replaced by enjoying ‘supporting’ our Club in the pursuit of as many trophies as possible AND, for those of Irish decent, celebrating our cultural heritage …….. most unfortunately, however, there are a fair few within our ranks who want them back, to return to bitter / bigoted / hate-filled rivalry. …..fortunately, I am not in that camp, and thoroughly enjoying supporting the wonderful, well-respected, Glasgow Celtic, in a bhun-free SPFL………. HH.

  11. Celtic will play PSV Eindhoven in the headline fixture of the Torneo Internacional de Fútbol de Maspalomas in Gran Canaria on January 10.



    The Celtic v PSV Eindhoven match will kick off at 12.15 on the Saturday and will be shown live on UK telly providing a 90 minute advert to the local tourist industry.



    PSV will play Sparta Prague on Sunday January 11 with Celtic meeting the Czech side two days later. All three matches will be played at Municipal Stadium in San Fernando, San Bartolome de Tirajana in the south of the island.

  12. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    lennon hunskelper extrordinaire



    12:53 on 26 December, 2014



    Not sure it’s a case of repairs…..Michael, for example, could possibly be looking to build a massive distribution warehouse for Sports Direct……or others could be looking to sell to developers…..anyway, away to read Paul’s article etc …..

  13. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on




    12:35 on 26 December, 2014


    Stroll on tomorrow






    Absolutely…..I cannot wait …..!!!!!!!!

  14. Neil canamalar Lennon hunskelper extrordinaire on



    When has viable business ever mattered where ibrox is concerned.


    I’m thinking Donald Finlay gave the heads up for change, can you see them allowing an RC to rule any version of them ?

  15. bournesouprecipe on

    Celtic have not lost back-to-back league games since Feb-Mar 2013.



    Score forecast Celtic 6 Ross County 0.

  16. Awe_Naw_No_Annoni_Oan_Anaw_Noo on




    Owning Scottish football must appeal to Ashley. As Paul67 points out it will not be in his name and it cannot until he ditches NUFC.



    They have no say in who owns them and as you well know their denial knows no bounds..



    Come on they queued up to buy shares from Green and Whyte.



    Once the dispute is settled about who owns Ibrox. Ashley will be in a perfect position to take control. I suspect he gave up on the owenership rights as he does not want tainted by one particular party.



    For a deid club they seem to be generating a good few millions for Ashley.




  17. Awe_Naw_No_Annoni_Oan_Anaw_Noo on




    Donald Findlay is irrelevant. He being a good counsellor is only trying to distance himself and possibly his clientele from what is about to happen i.e be decided through the courts. I dont think that alters Ashleys approach to it.




  18. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    This just gets better and better….



    “Dave King’s dream of owning Rangers could be scuppered as South African government order probe into his tax affairs”

  19. bsr



    How are you bud? Is yir big mate Eurochamps still in a mood aboot nae mention in CQN


    annual ? :O)

  20. 67Heaven ... I am Neil Lennon ....The angels are with Wee Oscar in Heaven.. Ibrox belongs to the creditors on

    Thought this was an excellent post onPhil’s blog



    The point was meant as more philosophical than religious in recognising a truism that those who suffer and refuse to look to themselves will continue to suffer through bitterness and resentment or whatever else lonely and destructive comes from that


    Celtic suffered for years and the fans looked at themselves and avoided Rangers and Sevcos fates by accepting reality, that there was no sugar daddy, that it was going to take years of rebuilding while our rivals lorded it over us but in the hope and belief that together and keeping a grip of reality (and without the ‘help’ of corrupt organisations or benefactors) we were going to triumph through adversity the hard way


    Celtic fans put up their own money and patience in an act of trust by looking to themselves


    They trusted Fergus because they were not being given unrealistic promises and Fergus was transparent that he was no benefactor and was in it to get his money back at the end


    The Sevco hordes have reacted in their time through blaming everyone else, bitterness, resentment and hatred, looking for just one solution of a wealthy benefactor


    This has led them into an inevitable destructive spiral of believing the unbelievable, mistrust, isolation, divisiveness and becoming lost and distant from the comfort they could have had if they had just accepted the harsh reality that they needed to save themselves the hard way


    They allowed themselves to be deceived by promises from ‘businessmen’ and the MSM which were off the radar and utter fantasy through this myopic view and lack of reality that Phil has been expertly highlighting from the start


    They have been reduced to a demoralised and fractured support, falling apart and destined to go on suffering for a very long time until the penny drops


    Hopefully Phil can carry on his excellent work and help them look inwards and recognise their folly but, with the MSM reacting to the suffering in the exact same way as the Sevco following, I doubt it!



  21. bournesouprecipe on




    Ha – I’m good thanks, you too I hope



    Ole EuroChamps67 took it on the chin, he’s handing out tickets (free ) to the


    Internazionale game, cos it’s his moniker.



    Some guy.

  22. Neil canamalar Lennon hunskelper extrordinaire on



    No sure how irrelevant, I think there are a few consortiums vying for that money in the background, I think DF is in one of those.

  23. Paul….I wish I had your optimism. Somehow, like others on here, I can’t see them being ALLOWED to just fade away….But here’s hoping

  24. awe_naw_no_annoni_oan_anaw_noo



    12:56 on 26 December, 2014





    How else will they sell 30-40k ST’s ?



    Without that there is no viable business







    As previously said:



    Boom, there’s your dinner.



    There is no viable business that can play football out of Ibrox.

  25. Is it not in Ashley’s interests to keep Sevco a going concern ? What use is commercial rights without a club ? Or the assets secured against the loans sufficient to cover him ? I doubt it, Ashley will do what is necessary to keep this show (tribute show) on the road. They’ll never threaten us again.

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