Small investors in football clubs cannot overpay

1059

Really delighted at the flow of sentiment towards Billy McNeill and the launch of the new frontage of Celtic Park tomorrow.  The place is beginning to look like a 21st Century venue, now we need the shops, restaurants and bars to bring the match-day experience alive.

Were you one of the fans who put £620 (or more) into Celtic shares in 1994?  Around 10,000 did, raising an initial total of around £10m from small investors alone.  It wasn’t an investment, none of us wanted or expected the money back, it was our contribution to Celtic at a time of critical need.

Many small investor-Rangers fans did the same when Newco went to market in December 2012, although one high-profile investor, who coughed up £500k, has asked Dave King to buy him out.

The stark reality facing these shareholders is that if King’s path is followed to a logical conclusion the club will be run into the ground, destroying their investments along with everything else.  I have some sympathy for their position.

King is not interested in buying control of the club, even at the discounted price shares are now available at.  He emailed the £500k investor “Why should any new investor bail out existing investors because they made mistakes in overpaying for their shares. The club needs money not complaining shareholders”.

The price paid by small investors was perhaps the most irrelevant figure to them, they paid the gross figure they could afford, irrespective of price.  The value of the share was irrelevant so to accuse them of making a mistake by overpaying is like criticising the month of March for being too purple.

How the small shareholders feel about this behaviour will not determine what actions the Newco board takes, that will be come down to how easily manipulated people like the Easdales, Mike Ashley and Laxey Partners are.  My information is they are not easily manipulated in the slightest.

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1,059 Comments

  1. JohnnyClash on

    johann murdoch

     

     

    Builders’ clean?

     

     

    Having seen it last night they better have plenty of pairs of marigolds available!

     

     

    #11th hour #nightshiftCSC

  2. ernie lynch on

    Interesting development, though not entirely unexpected.

     

     

     

     

     

     

    Rangers: Imran Ahmad in court again to ring-fence cash

     

    By Alasdair Lamont Senior football reporter, BBC Scotland

     

     

    Rangers’ former commercial director Imran Ahmad is to go back to court on Tuesday as he seeks to have more than £500,000 frozen in the club’s account.

     

     

    In February, Lord Tyre disagreed with Ahmad’s claim that Rangers were trading while insolvent.

     

     

    Now, with doubts over season ticket sales, Ahmad is concerned about Rangers’ ability to pay out should he win his ongoing legal battle with them.

     

     

    The two parties are in dispute over his claim for unpaid bonuses.

     

     

    At the February hearing, Lord Tyre made his decision in Rangers’ favour because of what he described as the cyclical nature of a football club’s finances.

     

     

    Since then, Rangers have made it clear that a significant drop in season ticket sales would leave them unable to trade without seeking external finance.

     

     

    The chairman of Rangers’ football board Sandy Easdale also told BBC Scotland the League One champions are in a “fragile situation”.

     

     

    Rangers will again have to satisfy a judge at the Court of Session that they can continue to trade, with the implications of the decision going in Ahmad’s favour next week potentially devastating for the board

     

     

    http://www.bbc.co.uk/sport/0/football/27251815

  3. Good afternoon Bhoys and Ghirls.

     

     

    I’ve not been on here or even been lurking, issues in life have taken over I find myself having to fight a fight no one should have to go through.

     

     

    I know there’s a wealth of knowledge on here and I have obviously looked into online.

     

     

    The question I have is can anyone recommend good employment solicitor in Glasgow? Or has anyone experienced major issues they’ve had to deal regarding their employers? I obviously can’t go into details but it’s gotten to a bad stage.

     

     

    I would add that’s it’s not me in the wrong, I’ve been wronged and it’s having an affect on me.

     

     

    Any recommendations very welcome HH

  4. bournesouprecipe on

    Can I Have

     

     

    Sorry haven’t read back, they manufacture garbage about Celtic and even

     

    know the fee?

  5. I’d take the reported £7m for flasher Forrest.

     

    Super talent on his day but inconsistent, too lightweight and injury prone.

  6. bournesouprecipe on

    johann

     

     

    What’s that Skip – Timmy’s fallen down a well after getting all that State Aid?

  7. Martim1980

     

    I used Harper McLeod a few years back when as an employer I had a real issue with a staff member that had to be tackled delicately (drink and drugs related) they were not cheap but they were exceptional in every way.

     

    They have specialists in all fields of employment law, you’ll be well looked after there.

  8. Looking forward to the game tomorrow and looking forward to the opening of the new entrance, might even stay out the Kerrydale long enough to see big Billy!

     

     

    Mon the Hoops!

  9. benjybhoy mul

     

     

    I will look into them. Very much appreciated. Thank-you

  10. The Honest Mistake loves being first on

    Martim1980.

     

    Only advice I have is keep a diary and always take witnesses into meetings.

     

    All the best.

  11. !!Bada Bing!! on

    Talking to a hun last night at a dinner, he told me about a recent Charity game for a lady ‘s family from the east end of Glasgow. Ratcho charged £400 for turning up, believe it or not. When he got home, and checked the envelope he would have discovered another side of bouncy bouncy…allegedly. .

  12. great post paulín

     

    the sublety and subtext is fab. I heart it. To make king less admirable than a thems shareholder is high skill.

     

     

    I also heart kronenbourg.

  13. The Honest Mistake loves being first.

     

    Thanks. I logged it all, there was even attempts to stop me taking in witnesses! They know what happened they’re just not admitting to it.

     

    I can’t deal with it again until next week but I’ve called a Sol and I’ll now try to block it from my mind until then.

     

    Thanks again and to benjybhoy mul

  14. can I have raspberry

     

     

    more peeps like you is what is needed in dis world

  15. Lennon n Mc....Mjallby on

    A boak inducing thread about Alex McLeish on hunmedia regaling how he matched MONs trophy haul in less time and fraction of a budget.

     

     

    Aye and what would MON hadve won if he had the Hugh Dallas’ Cowboys and the George Peat of the day on his side.

     

     

    Scotlands shame.

  16. !!Bada Bing!! on

    martim1980- might be an idea to log and date everything, dates, who were present, who said what etc, , good luck.

  17. Snake Plissken on

    Lennon n McMjallby

     

     

    Don’t forget the side letters.

     

     

    Celtic paid for their team properly.

  18. Martim1980

     

    I am sure Harper McLeod are exceptional in every way however I think the McKinstry Company in Ayr will be slightly less expensive and we found they were also also v good..

     

     

    Perhaps BRTH could give you some of his expert advice.

  19. Lennon n Mc....Mjallby on

    Snake

     

     

    Its staggeringly ignorant,I wonder how McLeish feels about him being the only manager of the two with the widespread and lasting use of dodgy tax schemes?

  20. !!Bada Bing!! thanks I believe I’ve done all of that, it was like another full time job but I know it’s against a large team of HR and some very senior people who don’t want to admit liability. I’ve followed procedure is concerned as far as my employer is concerned but they just won’t go over the line and admit. The consequences are pretty big. There’s a huge wait on my shoulders.

  21. thanks Yogiy, it’s only an enquiry at this stage, I am keeping my options opened. So will keep them in mind.

  22. South Of Tunis on

    Italian news ——7 pm .

     

     

    Pirlo has signed a 2 year contract with Rubentus .

     

     

    Ibra has announced that he is staying at PSG..

     

     

    Conte still mouthing off about being ” cheated ” by Benfica and the Referee.. Hypocrite !

     

     

    Saw this on a Pozzallo wall ————–” Grazie Benfica “.

     

     

    Pozzallo is some 1200 km from Torino .

  23. The Plaintive Cry of..

     

     

    “Next, Please!” Rings Oot..

     

     

    in Neil Lennon’s.. Over Crowded Tonsorial Palace..

     

     

    Yep… Who dae Ah see Next fur Shavin’ n Shornin’?

     

     

    Why….Young Fellah Me Lad..

     

     

    Jamesie!

     

     

    Of Course.

     

     

    Ten Million,is Ma Price.. n ..no a Penny Less..

     

     

    Why wid Ah let Him go?

     

     

    A loata reasons.. among Which.. is His Game Leg…

     

     

    Sciatica,is a Terrible Affliction.

     

     

    Besides..

     

     

    We hiv a Ready n Very Able Replacement… kicking up his Heels in the Paddock..

     

    (N..by the way.. this Kid Kin Motor.. Can He Evah!!)

     

     

    Young Paul McMullan.. who wull soon mak us Furgeet.. Young Jamesie.

     

     

    Mark Ma Woids.

     

     

    Yes.. if the Price be Right.. then ..It will be..

     

     

     

    Good Bye,Jamesie.. Hello.. Paul!

     

     

    Kojo

     

    Still , Laughin’

  24. WilliamKentigern67 on

    Martim1980

     

     

    If you are in a Union they cover all legal costs for industrial and personal legal work. If not Thomsons in Bath Street specialise in Industrial Law and are worth considering.

  25. WilliamKentigern67 on

    Martim1980

     

     

    The Citizen’s Advice Bureau or the Govan Law Centre are free for advice.

     

     

    WK67

  26. WilliamKentigern67

     

     

    Thanks, Union been helpful but not been involved as much as I would like. This is largely due to the amount of stuff going on. All noted, thank-you.

  27. WilliamKentigern67

     

    The big problem is where I work. It’s a big place. I’ll not say any more. Thank-you

  28. fieldofdrams on

    Martim1980

     

     

    The tribunal service also worth a chat (search employment tribunal online), and it’s free. And if your employer id a member of the Federation of Small Businesses, the FSB has a very good, free, confidential legal help line that you can use. Are you in a Union?

  29. Kojo – If anyone was crazy enough to spend 10mil on James then I agree it becomes a no brainer. However, the reality is he’s not going anywhere soon. He’s a big favourite of the Manager. Personally, I would give him another 2 seasons to develop. He has the talent to be our #1 asset by then – if he is not, then we move him on.

  30. South Of Tunis on

    Fabulous !

     

     

    ” UEFA should have showed us more respect by sending a Referee of the required standard ”

     

     

    Antonio Conte ———–Manager of the football club known as Rubentus .