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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HT
So what do they say
Rangers are dead,we dont like this new gang that says that are rangers and we arent gonna play anyone who plays in blue and might stop us winning ..so there
Cos that is how it will be represented in the MSM
The criminalisation of the Celtic support is another issue
I honestly havent seen it myself as i havent been over for a couple of years (just the way the cookie has crumbled for me,16 years a season ticket,gave it up because of finance)
However ,,,I will be back and I have followed the controversy on here.
To be honest surely its always been the case that Celtic fans get arrested for things that fans of the dead team dont,
Pal of mine from Dublin was arrested back in 79 for nonsense at a game (and I mean nonsense,in the sense that other police forces wouldnt have blinked an eye)
Is it any worse now
Campbells Soup Campbells Sauces. Old Firm Quick news.
turkeybhoy
22:58 on 2 January, 2015
16 roads – Celtic über alles…
“Teams rolling over to the Sheep”
Dear oh dear.Is this what we have become?.
——————————-
What are you talking about?
Nothing to do with what we have become.
I’m telling you now that if the title race is close going into April/May – every other team in that league will fight like terriers against Celtic, and lie down when they are playing the Sheep.
It’s Scotland don’t forget.
HH.
Maggie
Thats what we do
Havent they suffered enough
WITS,
Celtic want Sevco back , so golden silence will ensue.
Cultsbhoy,
Agree Lawwell decisions will make or break Ronny. He sold Tony Watt before Ronny arrived – irrespective of what you think of the lad.
I expects Lawwell to sell Commons to Bolton and save the £18k/ week salary. He is probably 50/50 on selling VIrgil. If he gets an offer in region of £7M VIrgil is gone and the Bosman from Ajax will be secured.
Ronny will soon discover that Lawwell is the Celtic boss and he is the coach.
I agree with Ronnys plan, just the execution is an issue — which is dependent on managing change AND strengthening the team
One player who has been undermining Ronny since day one is Charlie Mulgrew. He lives not so far from me now since his recent move and the jungle drums carry his message of discontent.
Miss Maggie M’Gill, she lived on a hill
Her daddy got drunk and left her the will
So she went down, down to Tangie Town
People down there really like to get it on
Love
Rangers are not dead. Ask embdy (sensible)
The cheating Scottish bastards diddled folks outta Billion pounds and 22 trophies are back!
Fact..never went away…ask embdy.
After Feb 1st all you cupid stunts are welcome to Celtic Old firm PLC.
Cowards!
Latchford
Charlie Mulgrew is not the only one
Pal of mine does a bit of scouting for Celtic
There is a lot of players not too impressed with Ronny
But then again as the late great Mandy Rice Davies said
well he would say that wouldnt he
margaret mcgill
01:31 on 3 January, 2015
In your eyes are they still the same Rangers ????
SOAL
Come on!
Her daddy got drunk and left her the will
her daddy died drunk and left her no will
gerryfaethebrig
Apologies Gerry I’m just off to bed. I don’t care about the huns. Their club died but the WATP mob will always latch onto something. It could be RFC3 or something entirely different, it won’t change my support of Celtic.
Margaret McGill
How are things mucker ?
Hamiltontim
Magic, good night & god bless
Gerryfaethebrig
01:34 on 3 January, 2015
Old firm is Old firm
Like the Holy salinity. God the Tim God the hun God the holy goalpost.
The Spirit of Arthur Lee
01:38 on 3 January, 2015
Illegitimate son of a Rock n’ Roll star
Mom met dad in the back of a Rock n’ Roll car
The future is more important and interesting to me than the past. We can control our future.
As for RFC/ Sevco/ neco tIRFc… Etc. we can’t harm or help them they are on a mission to self destruct that is not reversible .. Leave them to it…
We need to influence our own future
Margaret McGill
Awe Naw your kidding
The Spirit of Arthur Lee
01:49 on 3 January, 2015
He’s legitimate :)
Have they not suffered enough
WITS..been lurking… Youre right! :)
but its not all RD’s fault.
Maggie
Many of us will go to Hampden for no other reason than because we’re Celtic supporters.
Look at this
Maggie Magill comes home from Christmas Mass to discover the dog has eaten the Huns (sorry the Ham)
https://www.youtube.com/watch?v=3zCpQYhRkWk
Margaret as I have said before, not looking for an argument but you didn’t answer my question
gerryfaethebrig
01:34 on 3 January, 2015
margaret mcgill
01:31 on 3 January, 2015
In your eyes are they still the same Rangers ????
Maggie magill goes to Paris and finds Peter lawell drunk on a park bench
https://www.youtube.com/watch?v=KDcgOpUp2nc
Maggie the headless thompson gunner hunts down the huns
https://www.youtube.com/watch?v=WhRRWwH3Fro
Just catching up on today’s posts, so apols if I’m missing anything important.
Seeing Ernie Lynch’s “credentials” being questioned this morning worries me a lot – to dismiss him as a Jim Murphy type anti-independence poster is nonsense. Jim Murphy looks out for no one other than himself.
Ernie Lynch has been posting here since before I can remember, and his posts have always been in defence of the Celtic support against the increasing number of posters here who don’t really value their fellow supporters imo. Freedom of speech has been relevant to this from what I remember.
It shocks me how easily this is forgotten, but in retrospect, it shouldn’t.
It’s a simple thing ffs – I ask, would people just open their eyes to how the voice of Celtic supporters is being oppressed. It’s happening for a reason. If you can’t see it, or refuse to accept it, then you value the voice of Celtic supporters less than the establishment and the current Celtic board do, who see this voice as a threat and will do whatever it takes to put it down.
I don’t think this quite fits with our history, does it?
FFM
Ernie doesnt make it easy on himself
He seems to like confrontation
The night they drive old Maggie down
https://www.youtube.com/watch?v=jREUrbGGrgM
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
12:17 on 2 January, 2015
PEDROCARAVANACHIO67 1117
Hmmmm,may have been ERNIE,may have been the singing knob-end
Either way,surprised that anyone in GOOD TIM COMPANY doesn’t feel able to introduce themselves and join in the fun.
I mean,it’s not like many of us remember much afterwards anyway!
Or is that just me….
—–
Whit???
BMCUW, this is fecking madness. Total nonsense. EL has very distinctive style, and has always contributed well to this place.
I can’t stand by and see one of the best, and most though-provoking left wing posters on this site be demonised and dismissed like this. What the hell is going on here?
This isn’t a poster who rants and raves. EL’s style has always been to ask questions, and encourage people to look into things for themselves, which is the wisest approach to debate. I do agree, that during the independence debate this summer, EL’s standards slipped a bit, but I strongly believe, being a yes voter myself, that this was inevitable due to the low standards of debate being thrusted upon us all online by the yes campaigners, whose standards were appaullingly poor, juvenile even, and who in my opinion, are the reason the no vote edged it, (vote-rigging investigations withstanding….)
To sum up, I can’t stand by reading here while CQN replaces Ernie Lynch with the mentality of more Tony Donnellys. FFS, is no one else concerned about this?
Hamiltontim
01:57 on 3 January, 2015
Thats ok!
Gerryfaethebrig
02:00 on 3 January, 2015
Yes I did!
And finally Maggie
https://www.youtube.com/watch?v=PpRKstHl7Y0
WITS,
I don’t think EL likes confrontation, but I think his/ her style of posting can come across like that, which makes me think the poster is a bit older than me….
It’s a very clever style of debating online though. The objective is not to win an argument with the person you disagree with here, it’s to encourage everyone reading to think more deeply.
EL’s the best at doing that here, no question.
This is one of the reasons why a lot of yes voters have turned on said posters during the independence vote of 2014. The referendum debate is the one issue I’ve found where I completely disagree with him.
But EL has been a crucial voice here for the Celtic support against middle class board loving arse licking half wits, and for freedom of speech, and clarifying this argument, fighting a lone battle with, I believe, only Canamalar. These two posters are crucial to this site – if one of them goes, then I dread to think where this place will go.
Not for them a judge or jury
Or indeed a crime at all
Being Irish means their guilty
So their guilty one and all…..
WITS
I love you too :)
I love all of Celtic
I love all Celtic supporters
I will love Celtic till my last gasp!
The current board are Old firm traitors!
“fighting a lone battle with”
Sorry, important, should read “fighting a lone battle ALONG with”
JamesGang 23:48
Good post.
I agree.
Why should we be defined by hungoatedness?
Not an atom of it.
Hope your well big fella.:-).
——————————
Celticrollercoaster/jobo
Can you include me in your shay thingmi?.will e-m mon or tues to confirm.thanks in advance.
:-)
Hail hail
FFM
Ok,so its you ernie and canalmar against the middle class ass lickers
I HAD A NEW YEARS RESOLUTION not to fight with anyone on here
as the great Chief Joseph of the Nez Perce said ” I will fight no more forever”
But come on
You is talking nonsense mister