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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BigChipsUK
All in all, I think they show RD in a pretty good light when taking everything into account, the detractors and Celtic bashers, can carry on as usual.
POOR START TO THE NEW YEAR THAT LAWELLSACCOUNTANT FUD IS STILL POSTING.CHANGE THE CD AND PUT SOME THOUGHT INTO YOUR POSTS H H HEBCELT
TGBS (12:30), well said mhate. A considered and balanced view is so refreshing…
BT
I’m heading in too, hope that’s ok :-)
Feck
I better lift more money, incase I get a wee visit.
POOR START TO THE YEAR THAT ASSHOLE LAWWELLSACOUNTANT IS STILL ON CQN
HT
good stuff, just sent tbj a text too, been flitting in and out of cqn so wasnt sure if oldtim had posted
Burnley78 we are nowhere near the disaster that was the Huns. We are the polar opposite, making a profit every year and hiding the size of that profit and stockpiling the cash. But to what end?
P’s.
Transition is consultancy speak to excuse poor performance when a flawed strategy is forced into place.
Bring back Sammy.
Can just see lawells and kev sitting in the wee motor with the doors that fall off wi big red noses and twirling bow ties
Masty
If I remember correctly
Played in the dark for about 45 mins ( the flute band )
Doc’s Auld Da kited us Oot in wee green beret’s :-)
Also enjoyed the Paul Davis Arsenal Testimonial, Celtic fans took over some square (Trafalgar) in London for the day
Hail Hail
Themaestro72, I’ve nothing further of any value to say to you. Let’s agree to differ.
Bournesouprecipe, indeed. Cheers.
Maestro
11:40
Thanks for the link, I’m watching Utd v Zurich. 2-3 for Zurich scoring two in the last minutes. Celts are playing Munchengladbach but I can’t pick up the German commentary updates. Might be 0-0.
Unexpected Saturday bonus. Much obliged to you.
67 heaven can you explain what celtic are doing then please?
If anyone else has worked in Sales Management like me, they would know that when you take on a sales team, you take them all, good and bad, but transition is not a word in the dictionary! It is improve instantly on the last guy or goodnight.
Sweet dreams Ronnie
lawwellsacountant:
There is a strict, structured, caste hierarchy amongst huns, and evolution does contribute, in part, to how high up the greased food chain a hun can climb; with that in mind, in about 20,000,000,000,000 years you might well be lauded an exemplary example of a hun turd.
Ronny Delia is the Celtic manager, no Celtic Supporter, no matter how concerned, would ever belittle himself, his team, or his club and fellow supporters by using your – considered – crass, and vulgar, language with regards to any Celtic employee.
No matter your affiliation, you sir are not worth the oxygen you are daily thieving under the guise of being a Celtic Supporter.
Cowie
yes I was at that 1 aswell
BT
Don’t think he had I got a text from PF.
mcdowellcelt god bless wee oscar
11:24 on 3 January, 2015
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Watched young patrick every home game for couple of seasons before moving to oz. The boy is quality.. 2 good feet and good shot.
Sadly when he walked out on sunderland he seemed to lose his belief in himself.
Hopefully this trial will turn his career around.
And your right not on same level as mccourt but more of a footballer than mcginn and mcclean . If only their determination rubbed off in him .
winning captains
12:33 on 3 January, 2015
_____________________
SACK THE BOARD and let Celtic fans run the club and then….ye’ll no need tae go to SMSM oulets asking them to print a letter.
Back tae sleep Zzzzzzzzzzzzzzzzzzzzzzzz
Maestro
11.40
Update. Celts back on screen.
Slan_Abhaile:
Where have you been hiding? Welcome back.
outlets even Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Kit 1243
I agree with his assessment but I’m with you on the poor and unforgivable manner.
Just catching up
….PFayr supports WeeOscar
10:07 on 3 January, 2015
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Hun Skelper
No it’s not all that matters
Fairness and integrity are what matters ….ignoring the cheating shouldn’t be acceptable.
HEAR HEAR
slan_abhaile
12:42 on 3 January, 2015
If anyone else has worked in Sales Management like me, they would know that when you take on a sales team, you take them all, good and bad, but transition is not a word in the dictionary! It is improve instantly on the last guy or goodnight.
Sweet dreams Ronnie
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Football isn’t sales though is it?
It’s a weird enigmatic combo of engineering and art and conflict with the other teams (and often MIBs too)
Transition?
Didn’t jock stein? Didn’t mon? Hasn’t WGS with Scotland?
HH jamesgang
Kitalba
ACH, ye know how it is. Ye get scunnered and ye get busy.
Kitalba excellent post sir, chapeau doffed, pity we have to respond to pond life Guid new year to you. H H Hebcelt
bigchipsuk – honesty, integrity and fair play since 1887
12:03 on 3 January, 2015
Ronny wasn’t saying that he wants or expects to win the league on the final day, but that he would rather win it on the final day than not win it. We have to make allowances that the journos are asking loaded and leading questions of a man who is new to the reporting culture of Scottish football and who is still very much learning English, especially with a Scottish twist. And don’t forget that the journos need to get a good controversial story in order to shift their product off the shelves.
After all, how would you cope in similar circumstances being interviewed in Norwegian?!
……
What does his “assistant” Collins do?
Surely he has educated him on the media slant by now??
James gang
Good point. Probably my analogy was not the best. But i thnk the point someone made about too many excuses, stands in time honoured fashion.
JAMESGANG Why would i do that had a ticket and was looking forward to it,away games are the only one,s with atmosphere, we have two norweigans at the club who should be at the likes of doncaster,at least the 3rd one is back at cardiff,this season has been a disgrace , hell id even have strachan back and i hated him
Strachan was a great Celtic manager. Great.
Good grief. It’s a troll circus in here these days.
Scott Allan playing a fast pressing game against Hearts.
There have been Celtic players & managers that I have thought were not up to scratch but while they were in situ I hoped with all my heart every time we took the field that today was the day they would come good ,I still think that way.
But “HATE” that is a says it all statement .
Emails sent re Doncaster to SPFL and Celtic, with the note that fuller detailed letter to follow.
I just hope that widespread and relentless pressure may achieve what apathy and complacency never could.
I underlined my intentions by finishing …
>i>This will not go away. We need more than Rory Bremner quips. Silence in no longer an option.
A good point raised on the radio there.
If Aberdeen and others keep up with celtic we should give them 7000 seats next time they come to celtic park.
Pass it on to Peter.
Money is money.
Meanwhile, in another universe …
A shareholder has lodged a complaint with the takeover panel in regards to King and the 3 Bears.
Another episode in my favourite shitcom ….