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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Kevjungle
You actually hit nail on head there a few times and then your thumb few times with your comments on Fergus but come on man, you been buzzing the glue with Luigi stuff.
MWD said AYE
We now have the opportunity to address this same club nonsense with the upcoming Semi Final against Sevco.
We just need to advertise this game as the first ever meeting between the two clubs.
Hugh Bonkle fae Dallas
09:22 on 3 January, 2015
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Hail Hail and thanks fella.
Ye see….we dig deep for our team but, does it go to our team?
The huns don’t did deep coz a)They are miserable chancers? or b)Coz they know they’ll be swindled?
I say we dig deep – I’m talking past-tense personally.
HH
Many CQNers have been criticised for asking Celtic to publicly state that the new huns are not the old huns. Doncaster has called the bluff and left the club with egg on their face.
The Clubs silence is an ongoing sore
Kev, the huns never backed Murray’s share issues.
And between you and me I don’t think they were clever enough to know then they were being swindled. It’s taken a long time for the penny to drop.
moonbeams wd. wee oscar’s our bhoy and kano’s our mhan. the vow – critically rebuked by 45% of this fine nation.
09:33 on 3 January, 2015
Kevjungle
You actually hit nail on head there a few times and then your thumb few times with your comments on Fergus but come on man, you been buzzing the glue with Luigi stuff.
MWD said AYE
—//
At least he not a brown brogued loyalist though, eh?
Time for me to head to the gym. That time of year.
Moonbeams WD. Wee Oscar’s our Bhoy and Kano’s our mhan. The Vow – Critically Rebuked by 45% of this fine nation.
09:33 on 3 January, 2015
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Ha :)))
Eh, Luigi…I think, on the day could take Walters huns.
If Luigi had the players that the next manager was allowed to buy….then,I’d say that he would have stopped the huns equalling Mr Stein’s Magnificent 9 in a row.
I know that he lost 2-4 at CP on the ne’erday game but – he was forced to play Gillespie and that blew his parking of the bus intentions – imho
Ye see….Macari was ‘devious’ enough to stick-it to the huns, not like the other managers of the time who would – game after game – play into Walters hands by, trying to play football the ‘Glasgow Celtic Way’ without, ‘Glasgow Celtic players’ – imho
HH
tamrabam
We should have called them out on this lie 2 years ago.
Our silence is a joke, Ogilvie is still in place, Doncaster’s statement has went unchallenged.
Our club MUST refer to the Semi Final as the first ever meeting between the 2 clubs.
This same club myth needs to be nailed now.
Hugh Bonkle fae Dallas
09:40 on 3 January, 2015
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Yeah, as I said – The huns are miserable chancers.
I should have added – with a sense of entitlement.
Hail Hail
Tamrabam
09:38 on 3 January, 2015
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The hierarchy will only stand up for the club if – the fans ‘make’ the do it.
KevJ
Tommy Burns was no puppet.
Tamrabam
There is no way in hell club will stand up and face this down. More chane of the brown brogued CQN loyal growing some cajoneeeeesss!
MWD said AYE
Willie mc stay returning to celtic on Monday as head of the academy.
McDowellcelt god bless wee oscar
That’s a good move…
moravcik
09:44 on 3 January, 2015
Yh when Celtic come out and slay the myth that will change everything, those who choose to Beleive the lie will continue to Beleive it no matter what.
Celtic don’t need to do anything it’s not our problem, we know the truth that’s all that matters
moravcik
09:44 on 3 January, 2015
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The reason for all the ‘unchallenged’ stuff is, coz the Celtic ‘bored’ don’t give a stuff!
They have to be – ‘MADE’ – to do it.
They dont have to do one thing coz, all they function for is – to take your money, after that…you dont matter!
Sad but, true and…I’m afraid that the depth of the apathy that envelopes Celtic Park will ensure that, all will remain as is till…..the cheating, mibbery-assisted huns come back and, do what they do but, by that time…the ship will have sailed and any fan reaction from Celtic supporters will be too late and will help the huns and, devastate Celtic.
Too little – too late I’m afraid.
McDowellcelt god bless wee oscar
09:52 on 3 January, 2015
Willie mc stay returning to celtic on Monday as head of the academy.
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Only my oinion but…..
Mark McGhee as – Director of Football
Millie McStay as Manager of the 1st team.
Ronny is a pillock.
John Collins has drank the ‘boreds’ soup – GTF
Only saying – Hail Hail
oinion=opinion
typo
Robert88
09:47 on 3 January, 2015
KevJ
Tommy Burns was no puppet.
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Did I say he was a puppet?
A change if tack on CQN this morning
Last night nothing was stopping most on here from supporting CFC
Certainly not some cheating Huns , cheating SPFL and cheating SFA ….just ignore it …don’t be so soft or daft or both
Sporting integrity ….is irrelevant …no need for CFC to comment …undignified or something
Big game in Edinburgh today. A win for Hibs would see them get even closer to that new mob in second place.
I expect Aberdeen to win at Motherwell tomorrow, and Dundee Utd should win in Maryhill, assuming all of that water has dried up. Makes our game at Kilmarnock on Monday a massive on – and one where we can make a clear statement with a good win.
Going to be an interesting few days in Scottish football.
Dear, dear…..laters.
Confucius say “People who live in the past have no future” Smart ghuy old Confucius. Who on this bright Saturday morning could he be thinking of??? Hail Hail Hebcelt
Kev J
Awe is Johnny Collins no longer part of your wee rebel clique of Real Tims, now it’s “Big” Mark McGhee that’s flavour of the month, awe diddums always the bridesmaid never the bride but hey what the hell I’m sure Millie will do a great job…
Hun Skelper
No it’s not all that matters
Fairness and integrity are what matters ….ignoring the cheating shouldn’t be acceptable
Kevj
Pillick .. gtf
Catch yourself on.. you talk some sense then you come out with shite like that.
As far as I mind you were well into collins being brought back too the club .
hun skelper
It is our problem.
It’s our club who was cheated out of titles, cups, prize money and CL money.
Why should we not advertise the Semi Final as the first ever meeting between the 2 clubs ?
What are you afraid of ?
We only need to tell the truth.
starry plough
10:06 on 3 January, 2015
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Aye :)
Ye know what?
If there was a ‘rebel-clique’ on the ‘bored’ then….the huns would have been gone – for good.
Not sent away to stand in the corner for 3 years tae avoid paying £140 million, eh.
Anyway…….
….pfayr supports weeoscar
10:07 on 3 January, 2015
You crack on and waste your time bothering about it mate, I know the truth that’s all that matters to ME HH
hebcelt
Confucius obviously didn’t do football. 25% of football is the here and now. 75% is glorifying history and past triumphs.
MWD said AYE
KevJungle – “RFC / SFA / Scottish establishments biggest fear is that – one day – Celtic Football Club will be run by rebellious Celtic fans who – dont – kow-tow to a hun establishment”. Simples.
Yer full of it mate…
Panty shredder CSC
Hun skelper
Ridiculous approach
Morning Bhoys I must admit for me it is a confusing time to be a Celtic supporter as I see things if Aberdeen can be ahead of us at the half way stage in the league there is in my opinion no reason why they cant be ahead of us at the end of the league.I support Rony but as I have said before his interviews concern me he seems to be on a much different page to most celtic fans. I also do not understand Celtics silence on the Rangers fiasco for me it is not good .Also some of the names we are being linked with as potential signings for me are not any better than we have currently our player pool is bloated with to many average players which is costing us a lot in wages so bringing in more average players is not for me.I think we need strong leadership at the club and the strong leader we have appears to be sitting on his hands (CEO ) i see us heading in the wrong direction and no one trying to get us back on track. H.H.
proudbhoy
10:08 on 3 January, 2015
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He is a pillock.
What else would ye call sumdy who runs up and doon the pitch in his knickers?
Johnny Collins has been brain-washed by the ‘bored’ wi all his Rangers talk recently, imho.
Hail Hail
moravcik
10:09 on 3 January, 2015
The Huns are dead mate along with there history so anything we where cheated out of is gone with the Huns.
The semi will be the first meeting, who said it’s not ????
Why do you need the club to tell you something you already know mate ????
starry plough
10:11 on 3 January, 2015
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Better that than being full of your stuff.
KevJungle – “RFC / SFA / Scottish establishments biggest fear is that – one day – Celtic Football Club will be run by rebellious Celtic fans who – dont – kow-tow to a hun establishment”. Simples.
Aye I aspire to being a two faced muppet who’s views change with the wind every other day…
All mouth no trousers CSC
MWD unfortunately for some on here it is 100% the past. BTW do’nt accept your 25% – 75% split,not for me anyway.Happy and Prosperous New Year to you and yours. Hail Hail Hebcelt