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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Good luck to all those who have emailed or written to CFC seeking clarification and comment
I’ve given up writing …I’ve written a couple of times ..rubbered
Burghbhoy
It is exposed
It did happen
No amount of reviewing, redacting
or writing of history will alter the fact that Davie Murray killed their club
A 9 minute meeting on 14th june ended it.
All else after is about a new club..
Your a good mhan, met you in cq10.
Dont be succd in.the meeja are at their hunskanky best,
We have the rest of time to laugh at the this.history will only reveal more goatedness in time
Hope you and yours had a good ny
;-)
HH
Back to city now
Saint stivs
TV
The very famous Hereford Newcastle fa cup tie is being shown on bbc2 just now.
Fascinating nostalgI a.
Look at the state of the pitch
eddieinkirkmichael
10:53 on 3 January, 2015
_____________________
Hi fella.
Well, if you would have read my post about Fergus…you would have seen that I mentioned that ‘some’ of the rebels didnt see it Fergus’s way when he started all his – “…it’s ma ba…” – stuff, and brought in a inexperienced manager – sad to say.
Brian Dempsey also, at a later date when, Fergus’s puppets in the SMSM were blowing a gale about – Japanese folk wanting to buy his shares all the while, boosting the share price…cunning wee bassa that Fergus.
Anyway….BD was on Scotsport with Jim Delahunt – showing his bank statement from the Bank Of Ireland of a joint-account for BD and Edmund Keane after Fergus said that – BD and EK didny have the money to put into Celtic and BD was pointing out that, Fergus had duped the celtic supporters for ‘not’ selling his shares back to fans for the price that was agreed upon. Strange that Fergus didny come out and challenge these claims.
No, ye see….Fergus had resorted to veiled threats from the – Celtic View with claims that, Brian Dempsey and journalist Gerry McNee were – “Wolves in, sheeps clothing.” A threat these two were to Fergus coz – they had his number and, Fergus knew it.
Aye, the good auld Celtic View. The very same club publication that Matt McGlone told Fergus to stick were the sun dont shine coz, Fergus tried to revert the CV back to being pravda by telling MM what to write in his column. Ye see….Matt McGlone’s got more Celticness in his wee toe than Fergus McCann would ever have.
HH
Saint Stivs
“Look at the state of the pitch”
Yea and Celtic won the European Cup training on a pitch worse than that :) por cierto
Now, I hardly know the back end from the front end of a horse but whilst scrolling through today’s cards I see we have our very own Bourne running in the 1.05 at Newcastle. At the same meeting a couple of hours later we also have our old pal Boric (sp) running.
An unlikely 29/1 double but you never know….
Fitba later
Millwall v Bradford £ 15..
Millwall pal has instructed me to ” dress sharp – dont want to give the impression you are Bradford “
proudbhoy
11:03 on 3 January, 2015
tonydonnelly67
10:53 on 3 January, 2015
–
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
When some thing is wrong, it needs fixed things have to be said no matter how much your love is for that thing or person, THIS HAS TO BE FIXED.
And now this week’s CQN Coupon…
Awalkacrosstherooftops: Aberdeen
Blantyretim: Port Vale
Greenlion2: Bury
Jobo Baldie: Falkirk
Lennybhoy: Bolton
Pogmathonyahun: Bradford
PFayr: Middlesbrough
The Token Tim: Newport
Zzzzzzzzzzzzzzzzzzzzzz
Proudbhoy
Michael duffy and patrick mc eleney
Decent players but can’t see them having any sort of impact on our 1st team.
Mc eleney far too inconsistent and nowere near as good as mc court was.
Thanks Matron looks like the Meds have finally kicked in -fingers crossed. H H Hebcelt
BT
see you have taken port vale – will give them an extra cheer this afternoon
Fergus was never a Saint…..he was merely a Saviour.
TTT
Guid point, well made.
HH.
According to Twitter both Sutton and Hartson are putting the boot into Celtic this morning.
I don’t have a problem with ex Celts giving an honest opinion even if it’s critical but the frequency and vitriol from these two is unacceptable.
HT
Maybe they are just being honest
From e-tims diary
The transfer window has opened today, which means that Ronny Deila can start to work his way down the list of players he wants to bring in.
Theres been a few names mentioned, such as Ikeche anay, Ivan Santini and the Dundee Utd pair of Gary Mackay Steven and Stuart Armstrong.
As usual, we expect to bring in players the press haven’t mentioned. Scott Allen of Hibernian, for instance, or Peter Pawlett of Aberdeen.
As for outgoings…. Ronny has , according to some sources, given a list of no less than ten players he wants to get rid of. Or he would be happy to see go. Or , more diplomatically, are not in his plans.
Efe Ambrose, not surprisingly, is on that list. Which is why we are talking to Ajax about one of their centre halfs.
Kris Commons is also likely to be on that list, along with Beram Kayal, Derk Boerrigter and the usual suspects. Commons , linked with Bolton, may not get the move he is said to want, as Neil Lennon admits there is no money to spend at the Lancashire club;
“The situation right now is that we haven’t got any money to spend, only what we generate from selling players,”
“We have to be clever with loans, then if we get a bit of money in we can try and use it wisely.”
“I’d definitely rather players come in than go out, put it that way. We do look a little bit light at the moment in certain areas of the squad.”
The big worry, of course , is that we lose Virgil van Dijk, because he’s the only decent centre half we have. The Dutchman is on record as sayoing he’ll hang around until the summer, but as we all know, money talks. It might not be able to sing , dance or walk, but when it opens its mouth people listen, and a big offer will almost certainly see him out the door. We need to have a couple of centre halves in, just in case.
Jason Denaayer could be recalled at any time, especially if his injury doesn’t clear up soon, and we hear that John guidetti, who doesn’t seem to want to stay any more, can go in January, but Manchester city would have to pay Celtic if that did happen.
Couple of comments on posts from last night,
celtictom,
Excellent post, fully agree with everything you wrote.
bigshuggy,
Happy New Year to you and yours, was supposed to go out tonight with Big Kev but he called off, in-laws still in town.
minceyheidman,
Read your link to Kyle Doherty of Stenhousemuir, gutted to read what happened, I sponsored Kyle’s playing kit during the 2012/13 season when he was at Stranraer, RIP young man.
AR
hamiltontim,.
the truth does tend to hurt.
Top of the morning you can catch up on the young hoops on the link below today Bhoys
http://videocelts.com/watch-celtic-v-fenerbahce-live-this-morning
Themaestro72 (10:39), we are second for a number of reasons…
# We have played a game fewer than Aberdeen.
# Aberdeen have put together a run of 8 wins in 9 games, a level of consistency not seen from one of the “provincial” clubs for around 30 years.
# We have had a little mid-season blip, picking up just one point from the last two games.
# …and all this while we are in a season of transition, with our team being overhauled by a manager completely new to the SPL and the unique pressures of managing Celtic.
Have some patience. Aberdeen will not sustain this level of consistency until the end of the season, and we will accumulate at least as many points in the second half of the season (and Ronny Della isn’t much short of Neil Lennon’s record after the same number of games).
Of two things I am certain: We will drop more points before the end of the season and we will win the league.
Wits
Hartson “Deila is coming away with ludicrous statements about being happy winning the league on the final day”
I’d rather win it on the last day than lose it. John Hartson obviously forgets that he was a Celtic player at Fir Park on Black Sunday.
Morning all,
BMCUW, point taken earlier. My apologies to your good self and Pedrocaravanachio. I did indeed take the posts out of context.
As for me, well I’m supposed to be heading down the road to pick the dug up from my sevco supporting friend who has been dog-sitting her for me. I’m trying to convince him to keep her, but he’s not wearing it.
So when I get there, I’ll be telling him that even though she looks and sounds the same, is offensive to the senses, and has the same owner, she’s not necessarily the same dug.
what is the stars
11:36 on 3 January, 2015
HT
Maybe they are just being honest
——-
Or mibbee they’re just being paid!
For pity’s sake when they have Sally Magnusson announcing the Aberdeen are top of the league and RD had conceded that theoretically they could win it on the wee 10.30 sliver of news……….
……..take a peek at newsnow website ref celtic. You’d been forgiven for thinking we’d been hammered on New Year’s Day! (I know some of you were!)
It’s a pretty easy to detect agenda.
HH jamesgang
The day Ronny Deila takes seriously the opinions of the failed Lincoln City manger working to a newspaper’s agenda, is the day he should chuck it.
E-mail sent to JPTaylor asking when we can expect to hear comment from either Mr Lawwell or Mr Riley on the Doncaster statement.
Congratulations to skyisalandfill on becoming the 50th participant interested in LAST MAN STANDING 3 which kicks off next week.
Keep the entries coming by sending you’re “I’m in” email to cqnpredictor@gmail.com
We’re hoping to kick off the competition next weekend so still plenty of time to enter and/or drum up support from friends, family, colleagues, etc.
Jobo / CRC
1.05 at Newcastle – 50 pence each way.
winning captains
10:23 on 3 January, 2015
moravcik
Yes it is being re-written now.
——–
With regards the re-write, I would suggest sticking more to facts based around timelines, SFA / SPL / SPFL rules and corporate law, rather than mentioning any opinions that have been expressed by anyone – ex-Hun directors or otherwise.
Any discussion of opinions only gives strngth to the argument that the status of The Rangers is just that – a matter of opinion.
It clearly is not – it is a matter of fact.
So I’d suggest that a more powerful approach would be a succinct timeline of events, coupled with Company Registation Numbers, references to formal minuted decisions made re: passing of membership to Dundee, fact that two ‘Rangers’ existed at the same time, etc.
Perhaps a flowchart or Gantt chart may help in laying the timeline of events out, would be effective and powerful in illustrating the facts to the readership, and may make a more engaging article – illustrations certainly help get the message across.
Could do an example, but afraid I don’t have all of the facts and associated dates (sure you & Auldheid do, though).
Anyway, just my suggestion – stay away from expressed opinions, and stick to unarguable facts that support the only logical conclusion.
HH
BGFC
Hamilton Tim
Totally agree. I have no problems with people criticising the team cos I do it myself and do worry about deila to be honest.
But these 2 half wits are doing it every single week now it’s got to the stage it’s just personal attacks on the manager.
They didn’t say too much last year.
Gene
thought about you when i picked them, shout for a few goals please. 8))
connaire12
I’ve mailed Celtic and the SPFL I don’t think it’ll make any difference.
Ex players wanting to work in the media have a choice – take Scottish media cash and only write anti Celtic columns or go somewhere else to work.
…without my typos, obviously! (I can spell, I just can’t type).
bt
of course gillingham will have the “just sacked their manager bounce”
Joe Filippis Haircut
10:11 on
3 January, 2015
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.
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That’s about my feelings on the whole thing. Good Post Joe.
(If that’s really you Joe all them years of buying the products you were rep for was only because you wore the hoops, there were other rep’s giving me better deals btw. -))))