Dave King and three fans, Park, Letham and Taylor, have bought 31% of newco Rangers this week, to add to some minor shareholding previously held. King and the others are not presenting themselves as acting in union, as that would force them to launch a formal takeover bid for all shares in the club. So get it right, this is not a takeover attempt (cough).
King’s shares were acquired from Artemis and Miton Group, who were not aligned with the Easdales, Mike Ashley, or any onerous contracts, they were shareholders hooked at the IPO in December 2012.
We’ve long urged those who are seeking regime change to buy shares in newco, instead of trying to force it into insolvency, an inappropriate course of action. The actions this week confirm the view that the current regime are entrenched and only 50% + one share will change anything.
The remaining significant shareholders: Blue Pitch, Margarita, Easdales and Ashley will all have their exit price. Any one, or all of them, will go if the new investors are prepared to offer enough money – and that is likely to be considerably more than was paid to Artemis and Miton Group. The figures paid this week are relatively small beer compared to the tens of millions required to keep the financially non-viable entity afloat over the next few years.
King, of course, was non-executive director of Rangers, charged with ensuring good governance at the club which was found to have operated an illegal Discount Option Scheme and illegally paid five players through Employee Benefit Trusts, with others subject to appeal. He remained a director of the club until a liquidator was appointed to wrap-up its business.
He was also called a “glib and shameless liar” by a judge in South Africa, where he was convicted of tax evasion, so he’s pretty much perfect to take an active role in newco.
Reports suggest that there is not enough money in the business to meet January payroll, so we’ll not have to wait long to see if those currently in control are intent on remaining in control, of if they are prepared to sel-up and walk away.
My hunch – Ashley will not be usurped by people who attempted to put one of his businesses under. He has the profitable parts of newco Rangers and he’ll do whatever necessary to keep them. He also strikes me as someone who would be unforgiving in the face of manipulation.
A walk down memory lane: Fergus McCann offered bought out each member of Celtic’s old regime in 1994, no matter the price, apart from the likes of Kevin Kelly, who declined his cash but offered to vote alongside him. It cost a lot of money, but it was the right thing to do.
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can people stop using the ‘calling out’ patter
i hate it with a passion
i will call out the next person who calls someone out
when i stop cringing
jamesgang
has helped restore my faith.
An absolute gentleman and one of the finest
Celtic supporters i have ever met.
HH
Foghorn
I am going to call you out over that
PS Is that like asking someone out,like on a date like,cos I am not gay or anything like,not that I have anything against gay people,an ex boyfriend of mine was gay (oops)
Anyway Foghorn I am calling you out
What is the Stars
Absolutely – we deserve better. I’m not happy with his appointment but my distaste is for he who short changed us ( while growing richer) not for Delia himself
T Mc F ?
Good footballer
One for SOAL
https://www.youtube.com/watch?v=god7hAPv8f0
Cultsbhoy,
Ronny has to be strong with Lawell when it comes to transfers, lots of rumours of certain senior players not buying into the new regime, they have to go, but cold hard cash has to be stumped up now and the players purchased that Ronny wants…….
With the previous Lawell and this PLC has i wont hold ma breath!
HH
gebhoy
WITS
You are now being a bit of a dick.
HH
Gordon64
Whats wrong
Superb tunes on BBC 4.
Greenlion2
What a night that was at your supporters club
Love
Lawwell has made many great calls and taken gambles that have paid off but I feel he is making poorer calls and less of his gambles are paying off now. We’ve had the best of him – time for new ideas, leadership and drive.
He’s just treading water now and raking it in in the process..
i posted earlier that I thought 84 points would be enough to see us over the line. I still can’t see Aberdeen losing only around half a dozen points between now and the end of the season. They need to play Celtic 3 times.
We drew one and lost one game. Aberdeen won a game when we couldn’t play. We won 8 games in a row prior to these events.
It will take a spectacular lose of games for Celtic to lose the league. Our form is only about 2 points off our season average over last 4 years. Aberdeen have improved this year by about 5 or 6 points on the second placed team in those years.
Anyone that thinks Aberdeen are more capable than is not living in reality.
WITS
Nothing wrong amigo.
HH
Gordon
Ok
New years resolution ..no fighting
But (dont tell anyone but sometimes I cant help it)
Watching BBC 4 myself
Celtic Celtic that’s the team for me.
The finest team in Scotland i hope you’ll all agree.
Cults bhoy I,m sure you are a Google Celtic supporter but when you can’t spell or do’nt know our managers name it takes something away from your posts. BTW you are not alone. pedantic CSC. Hail Hail Hebcelt
Well it’s more than 24 hours since Doncaster’s statement and Celtic have said nothing.
I’m not surprised in the slightest, I’ve always said we would say nothing and I’ve sat in Peter Lawell’s company where he’s reinforced this. There’s no anger, merely disappointment.
However, we were expected to play Thistle yesterday. Just say that a few smokes had been let off or a couple of seats broken (both wrong) and Thistle, the SPFL or social media had gone mental about it.
Would Celtic still be quiet 24 hours after the event?
It’s a rhetorical question and for me that’s the biggest problem.
Google=good
hebcelt
read your post again and then get very embarrassed
Hebcelt
…. Karma
HH
HT
Do you not think that Cetic/Board/Lawell/Desmond /Whatever are in a bit of a dilemma here
Say nothing (dignified silence,never interuppt your enemy etc) and Celtic fans go mad,
Make a statement condemning hunnery in all its forms and MSM goes mad
Its a rock and a hard place surely
Wits
I’m in the say nowt camp.
Let them destroy themselves….
heb you had me Googling there now! ….
braw
To many camp people on here now
HT hope you are HAPPY
HT
Celtic are not required to respond
to an eedjit spouting gibberish.
We all know the game plan by now.
Get Sevco back asap.
No one told them that they will be in
admin before the end of January.
HH
Foghorn predictive text but quickly corrected, I expect and have heard and read Deilia from them but surely not here or Delia even. Just a wee bugbear ,no harm done. Hail Hail Hebcelt
Cults Bhoy
i am with you there
Cast your mind back a few years when they were hovering on brink of admin then liq
Full frontal paranoia on here
Lawell will save them etc ,madness
Peter said nothing and guess what,they went down the toilet
SOAL is this your hat
https://www.youtube.com/watch?v=RdPLlxoT_as
take 5 minutes and chill to this
https://www.youtube.com/watch?v=17s_aJfSrrI
Greenlion2
Aye but the rest is all yours
Them being the MSM time I was throwing out the Zzzzzzz,s HH Hebcelt
Well it’s a good night from me.
Celtic today, tomorrow and forever.
HH
Honestly only heard this guy for the first time today on Craig Charles on radio 2..
https://www.youtube.com/watch?v=YJUHg1KtYv8
Gordon64
zzzzzzzzzzzzzzzzzzzzzzzzzzz
Love
Wits
Celtic should speak out. The club have been robbed of titles, trophies and millions. We, the support, have been cheated out of relative fortunes, paying into a rigged competition.
What I find a bigger issue is how our board contribute to the criminalisation of the Celtic support.
WITS………..awfy braw ….
hamiltontim
00:58 on 3 January, 2015
I am honestly not trying to stand up for the Board or Peter L, but would the media not jump on any statement from our club ?? whether people like it or not I think it was big-cup winners who earlier stated we are a small percentage of the bigger field, I believe every word you type and we do have to keep telling everybody the truth but waiting on a “statement” from the board, who 90% on here don’t listen too, then need to hear what they say/think… In fact the more we deny Sevco the more it might play into the hands of Sky/BT and whoever else would pay for the rights to broadcast the freak show, and that’s what it would be, anyway good night & god bless