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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In the balance of probabilities……
the group of posters assiduously pumpin’ oot sleekit bile will considerably up their output in the run-up to the feb game.
Are Fat Jum and wee jack back in town?
The many-heidit stoatir(s) will not let up until Celtic are divided and conquered.
We do have our own problems and they always begin and end with a hun.
starry plough
10:16 on 3 January, 2015
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Ha….another keyboard gangster.
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.
You should know you’re the biggest keyboard abuser on here, four years of posting the same stuff day in day out and not one solution except that somebody else should save Celtic so you can return.
It’s hard work being a prophet eh!
HEBCELT
Considering that every second past is in the past it’s probably higher than 25% :-)))
MWD said AYE but ok I’ll give you 60/40
Delighted to see Willie McStay given this position.
Starry do’nt know why you bother-pearls before swine Hail Hail Hebcelt
2 players from derry headin to celtic for trial next week. Reading things like that cracks me up if I’m honest. 2 half decent players in ireland who will not get into our first team.
Don’t get me wrong I’m from derry and like to see local boys do well but ffs celtic aim higher than that.
moravcik
Yes it is being re-written now.
As for Herald circulation – don’t worry about that.
Anyone fluent in any of the major European languages and willing to translate our text please let me know. Email david@cqnmagazine.com
hebcelt
Ah know ah know..
There goes my New Years Resolution.:))))
starry plough
10:19 on 3 January, 2015
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Nah – ye just dont get it.
Celtic are the fans – I’m asking the fans to save themselves and finally…fulfil McCann’s promise of owning their own club – that is all.
Inter.
Podolski on loan – looks like a deal has been done.
Todays big story is Susic from Hadjuk Split .
Media still flying kites re Lavezzi/ Lamela/ Paulinho/ Milner and Shaqiri.
How many games were cancelled the other day?
Was it just Celtic’s?
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.
On CQN it’s a big deal but in reality it’s not high on the supporters who go to the games agenda. More interested in the football. Tactics,manager and players.
CQN is far removed from the foot soldiers.
Watford could be in for Kris Commons – maybe a deal involving Anya?
Still got 2 free tickets for rugby park if anyone wants them
Adult and child
lennon’s passion
10:29 on 3 January, 2015
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Ok, cheers fella – Hail Hail
gordon_j backing neil lennon
10:30 on 3 January, 2015
Watford could be in for Kris Commons – maybe a deal involving Anya?
Pace is something that is sadly lacking in our current squad, Anya would certainly give us that.
Kevj
Pillick
Someone who comes on moaning the same stuff day in day out and dreaming of stuff that wont happen and calling fellow celtic fans sheep etc
Do yourself no favours sometimes.
Bhoys and Ghirls, the behaviour of the Scottish football authorities, whether pre 2012 and the demise of Rangers FC (RIP, Deceased, Dead, Gone) or subsequently in respect of the new club plating at Ibrox Park is a legitimate topic of conversation here on CELTIC quick news.
Similarly, the response of Celtic PLC to the above matters is also an appropriate topic for discussion.
However, the various boardroom shenanigans and the on field performances of said new club should not be filling the pages of CELTIC quick news. I don’t particularly care about Dave King, Margarita Holdings, Lewis McLeod, Ally McCoist etc.- certainly not to the extent that such issues are covered on CELTIC quick news.
Us discussing the day to day events at The Rangers International Football Club (2012) only feeds the ‘Old Firm’ agenda.
Hold the S.F.A. and the P.L.C. to account on all matters, but it would be better if we didn’t give an F.U.C.K. about a new club.
HH
proudbhoy
10:33 on 3 January, 2015
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Better to be a sheep than a pillock, eh.
Anyway…..
Time to leave the school playground
an enter the real world, bye.
Gary67,
Agreed. And if he could stay fit and play a few more games than our wide players seem to manage at the moment …
Celtic quick news
2nd in table but let’s look at what’s happening across the city.
Cup semi-final is against a team we’ve never played – aye right, why the cheers before the games when Hearts then Hibs beat them? Why the”don’t sack McCoist” when Alloa put them out that Mickey mouse cup?
I’m more interested in why we’re second despite beating the sheep twice this season.
What’s more important, Celtic poor from or the history of some other club?
Anyone fancy a game of football?
Off to watch East Kilbride in the lowland league at the impressively named K Pax arena.
2pm kick off for anyone that’s interested
Hamiltontim
10:21 on
3 January, 2015
Delighted to see Willie McStay given this position.
Me also.I said last night that people forget RD likes to bring through the younger players.This will take a couple of years.We could not get a better guy to be in on this.
Pfayr
You are absolutely correct sir.
We have a chance NOW to nail the one club myth. We also have a duty to pursue the cheating. Expose the LNS enquiry for what it is…. A flawed judgement, perverted by Bryson’s intervention.
Point1. The same club myth is a lie.
Point2. We were cheated for years.
We MUST protect future generations.
We MUST ensure that this exposed.
If not we betray the spirit of all who have sweated blood for our club.
We better….. Or we will forever regret it!!
Hail Hail
McDowellcelt god bless wee oscar,
They are only being looked at.You never know what can happen.A lot of very good Irish players playing in good leagues at the moment,and have done so in the past.
They are not the same team, but it IS the same fans, hence why we love to hear THEIR new team getting humped and all the internal strife por cierto
mcdowellcelt god bless wee oscar
10:23 on 3 January, 2015
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Duffy and who else ?
Me da and couple mates go to the games.. all said duffy is good and quick but very doubtful if he’s celtic class.
Best talent in years at the brandywell is still there.. patrick mceleney . Great potential but sadly doesnt seem to be interested after bad treatment at sunderland.
Twice the skills and passing than mcclean had but no where near the same attitude.
Ants game off … as Forrest Gump would say … again
For once this game today in Edinburgh could be a cracker.Will be watching the boy Allen today,to see if my first opinion of him holds water.A draw best result in both teams battle against the huns.Or a Hibees win.
Can see a draw at Motherwell.Not just hoping,think it could be.I am betting it anyway.
Ah good Matron must have arrived with the meds.H H Hebcelt
I think either the SPFL or CFC have to come out with an explanation on what was said by Doncaster, you can’t just go tossing hand grenades like that and walking away as if nothing has happened.
We need clarity from one or the other I don’t care what one it is as long as I know who said what and who backed it up.
This just can’t be left as is, like the red tops have done today not one word of it in the DR, it’s like that’s it now move on Timmy.
Some one has to step up here,so far it looks like CFC and the SPFL are acting like two guys standing in an elevator alone who don’t know each other, and one of them has farted, but both of them know who it was that farted.
KevJ……………….
Just finished scrolling back a bit, can’t believe you actually put in print your love for Brian Dempsey.
The same guy that would have had us move to Robroyston to a home on land that he owned.
When that stadia was finished and Celtic had paid for the infrastructure that goes with a hugh stadia, new roads et,. the land round that stadia would then have been worth 10 times it’s value.
Funny that it was Brian and his pals that had all those parcels of land, problem was planning permission was conditional on new roads, without the stadia this land wasn’t worth a thin dime.
How much did Brian D actually invest in Celtic BTW
Hunskelper – that should read Hunaquiescer.
“The Huns are dead” wrong Rangers are dead. The Huns will be back.
I would change your moniker, it’s not you.
Your apathy towards cheating and corruption makes me sick, let’s do nothing and blindly support a rigged game.
I come on here and get hope from the likes of Canalmar, Auldheid, BRTH, you want to go back to the good old bad days. Open your eyes.
Monday night’s game at Rugby Park is not yet “make or break” time for Ronnie, but it’s getting damned close.
Three years ago at the same venue, a 3-3 draw (in extremis) was enough to save Neil’s position and turn our fortunes around for the rest of the league campaign.
Ronnie’s team selection better be spot on and his team better be 100% motivated.
Oh, and the forwards better have their shooting boots on…
We seem to play better away from home, with the home team less inclined to play two banks of five in front of their goal.
We should be able to win with a couple of goals to spare.
Gardez la Foi
Sixtae
tonydonnelly67
10:53 on 3 January, 2015
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Well said.
Always thought you would argue on celtics side no matter what. Fair play for asking them to explain what that tube doncaster said. Read back earlier and saw you sent sfa an email asking for clariity. Goodwork tony
I need to.pay more attention.
Why the flip is the Killin game on Monday night ?