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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Looks like the blocks on Phils site, I can’t open it?
David147,
Your first post is excellent. The obsession continues. Some folk just can’t live without the Old Firm. How depressing.
I can access phils website
can somebody pyt up the links
thanks in advance
HH
Paul67
It is obvious Doncaster is ‘up to his knees’ in this latest plan, which is way outside his SPFL remit / role …. surely he will be hauled up in front of Regan ……eh !!!!
I can’t access phils website
can somebody put up the links
thanks in advance
HH
specslocatedCSC
Yes I had a good one, quiet, but nice, same to you. :)
david147
I attend all home games and couldn’t care less about Sevco. What I do care about is the people running our game not learning a thing about what has happened the last few years.
There’s SOMTHING going on with his site, I can’t get in either.
67heaven
It’s far from obvious that Doncaster is acting outwith his remit
It will become clearer if he is brought to book …if not
Td67
Seems Phil’s blog off line at the moment
Tony D & Awe Naw cant access Phils site either.
Ps a link from twitter on a Jambos view on TSFM regarding donkeys statement
Link to well reasoned and articulate letter from Hearts fan to Ann Budge
http://www.tsfm.scot/a-sanity-clause-for-xmas/comment-page-17/#comment-40647 …
Ringside seats then for the hunfight at the Oldco Corral.
King, Letham, Park & Taylor dressed casually but tooled up take on the men in black…
Ashley, the Nasty Easdale Brothers, Margarita and the mysterious Blue Pitch.
Charls, Craigie, Wattie, SDM, HMRC, BDO, The Polis, other Mrrays and inexperienced gardners watch from behind the curtains
When the hunfire has stopped and the asbestos dust has settled…
Who will still have a leg to stand on..
And who will be unscathed…
prestonpans bhoys
Looks like it, I can’t open his e mail?
I can’t get on to Phil’s site either….away to check twitter
Perhaps Phil’s site being attacked by North Korean Huns!
david147
You’re not interested in the biggest fraud ever in football and how it continues to affect our club and it’s future??
Strange..
Sky reporting that Celtic have yet to win in 2015…….
leftclicktic
I can’t even open that one you just posted?
https://twitter.com/heavidor/status/551089872833110016
prestonpans bhoys
19:02 on 2 January, 2015
Perhaps Phil’s site being attacked by North Korean Huns!
_____________
Lol. I can’t get on it either.
R we you are correct Doncaster is not in charge. But Mr lawwell is…………Doncaster would not have uttered a word without Mr Lawwells say so…….
Phil had a site denial attack ? Was he streaming Sony Film Chappie (Cheeky)
The Sevco fans must be feeling the love tonight for the return of the man who just can’t wait to be king. It’s the circle of life.
Hakuna Matata.
The HUNa don’t mata
There’s obviously skullduggery afoot here, it stinks to hell, I can see big Mick taking the gloves aff. And passing Chibs to the Easdales.
leftclicktic,
Thanks a very interesting read.
right click and open in new tab. Takes a while to download
HH
Phil MacGiollaBhain @Pmacgiollabhain 5m5 minutes ago
Site temprarily down. Hosting company rebooting the site-it shouldn’t be long.
*** LAST MAN STANDING 3 COMPETITION ***
Oh not not another reminder from Jobo….
Still time to register your interest for the competition that’s due to start next weekend. Just email cqnpredictor@gmail.com . Already over 40 interested experts and I’ve just spent the last couple of hours acknowledging the various emails sent since we first advertised the new competition – check your inbox and let me know if you haven’t heard anything back yet (to above or to jobobaldie@yahoo.co.uk ).
Celticrollercoaster sent a great message out yesterday and it’s worth a repost –
“As it is the first day of a new year, I thought it would be good to give you an update on Wee Shay McGinley. Thanks to CQN and indeed the fund raising done by the family themselves, there is enough monies raised for the first year of treatment (about £6k). It is estimated that a further £12k will be required to give Wee Shay a further 2 years treatment and help him along the way. So a big thank you to all so far for helping this wee baby and his very young parents.
The treatment Wee Shay is receiving is called ABR which is an alternative therapy not available on the NHS. Wee Shay undertook his first course of treatment in November 2014, with March 2015 and June 2015 to follow, as part of year 1 treatment . The difference this has made already has been incredible with Wee Shay been able to take food by the first time by mouth (soup) without the threat of choking. Indeed, this was to be his first Christmas dinner and he would sit up (assisted in his adapted chair) at the Christmas table with his family at this special time. A big moment for the family.
This is a big change from last year, when he and his family spent most of the time in hospital, worrying over the life of the Wee mhan. Wee Shay is also managing to sleep through the night, without being sick, which was previously a daily occurrence. What a relief this is to his family.
He has also made his first sounds ( to his daddy :-) ).
All very simple things to us all as parents and grandparents, but some giant steps in 2014 for Wee Shay and his family. I hope 2015 is even better for them.
How much of this improvement is down to the treatment and how much to the resolve of Wee Shay, we will never be able to tell, but what I can tell you, is that every penny we have donated through the various activities, has given this family hope and a chance of a better quality of life.
This is what we do well on this blog!
You can read about Shay here:
https://www.facebook.com/pages/Help-Shay-Along-The-Way/814451225255695?fref=ts
I had the privilege to meet up with Shay and his mum and dad just before Christmas, and would like to pass on their thanks and immense gratitude to all of you from them. A happy wee unit and one that would inspire you ( It did me!)
So, thank you bhoys and ghirls for helping an incredible wee family and if you have not joined Last Man Standing 3 yet, don’t forget to drop a wee email to us.”
£10 to enter with half of this paid out in prize money and half to the very worthwhile cause. Go on – you know you want to…
Fit & Proper Person Test anyone?
Rules are made to be broken….
Ashley and Challs still in the money seats.
Neganon 2
Interesting point.
Do you have any evidence to support
your claim that PL had prior knowledge of Doncasters
statement ?
Bada bing
Or simply ignored
oh dear that peter lawwell now runs the spfl
Send for the Loan Ranger.
Rwe,
http://www.youtube.com/watch?v=XX0RakvyZ1I
Once again PL is behind it all.
What an evil genius he is.
Ha ha ha.
Prediction. Ashley will be booted out by the SFA and forced to sell up at the disciplinary hearing at the end of the month citing dual ownership being unacceptable. A price behind closed doors will be agreed upon.
HH
Right time for a pint in the local, should be a laugh since Hertz and Hibs are this weekend!
ooverseasbhoy
19:03 on 2 January, 2015
Whit ur they like…..bless them