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.
852 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- ...
- 23
- »
!!bada bing!!
19:37 on 2 January, 2015
Jee whizz what a drama queen
ach weel I have been fed and watered now …..braw
the clock is ticking in the courts etc anyway …so we can sit back fr a few weeks and see how all this huns out….Huntertainment for a guid whiley yet ….
braw
Starry
A brilliant day and a magical performance from Sammi.
overseasbhoy
Paddy played off Sammi who was up front on his own that day.
aiden bhoy
Well I suppose it’s a start, but you really should be annoying the SPFL not CFC., to be very honest if the SPFL computers are not on melt down and this is left as it is, then we deserve all we get not just us, every football fan in Scotland should be in an uproar to this idiots insulting statement, does he honestly think he can get away with this?
If he does then we are doomed and left to be the laughing stock of world football, .
Brogan Rogan
Well laid out
Thanks
On a separate……
IF ? Celtic came out and refuted Doncaster statement does anyone think our attandances would increase ?
Pfayr
I’m sure I read on here, Dungcaster, had a meeting with rep (one of) of the 3, pre having Ashley or Lambias in,
Why was he meeting with them, when at that time they had no influence ?
Where are they now, and has Dungcaster been used to try and outflank Ashley ?
He will not take that lightly if so ?
Just my opinion mind
Bada, thanks and all the very best to yourself and family for 2015
WHIT’s in response to you, the biggest downsizing this year has been in our Management team, in my opinion, hence we now find ourselves where we are :-)
Hail Hail
All the best for 2015 to every single person on the blog, poster, lurker, troll or Sevconian in for a wee nosey, let the 3 bears try and find goldilocks, let the tax evader be the king to try and find a white horse to be the shining bloo knight, but do not to let the lies distort the truth it might be 2015 but that mob died, liquidation doesn’t differentiate ! I haven’t read back every article but “neustadt-braw” tell “Mr Celtic” he has put a wee smile on my face especially at this time of year when 99.9% of the blog. family or friends have been affected by the big C it was brilliant reading about your news Hail Hail & God Bless
Any way am offski to watch a movie on my new box.
HH all Tims
Lurking HUNS GIRFUYs
https://www.youtube.com/watch?v=TZZOhCRRs_4
A song for Peter Lawwell/Ronny Deila/Efe Ambrose/Kris Commons/Beram Kayal/Tony Watt/
HH
Aid dasler
And …stood up to the SFA ….tried to get Ogilvie out
Then yes I think some disenchanted fans may return
lennon’s passion
19:47 on 2 January, 2015
you must know what’s happening? Do share with the group.
adi_dasler
19:55 on
2 January, 2015
Brogan Rogan
Well laid out
Thanks
On a separate……
IF ? Celtic came out and refuted Doncaster statement does anyone think our attandances would increase ?
if the huns get into top league due to restructure do you think our attendances will increase????
adi_dasler
Those so called Celtic fans would read summit in the record/sun that would put
them off the hardship of turning up at Paradise.
hellmendthem
Cowiebhoy
The SPFL are desperate for some form of Sevco in the top league
They will do as much as they can to achieve this
Aiden Bhoy
19:41 on
2 January, 2015
tonydonnelly67
And what agenda is that ?
All I want to know is if Doncaster was speaking for himself or on behalf of the clubs. And I have contacted Celtic to ask them this.
——————————————————————
He was speaking for the SPFL. Here’s the clue from the interview on BBC :
So the official take from the SPFL is that Rangers Football Club continues, it’s the same club?
“Yes, it’s the same club, absolutely.”
The question is not who he was speaking for – it’s whether he did this without the prior consent/agreement of the SPFL members he represents. Answer needs to come from SPFL.
On another note, and related to that interview, can someone explain something to me. Read the following from the same interview :
“The member club is the entity that participates in our league and we have 42 member clubs.
“Those clubs may be owned by a company, sometimes it’s a Private Limited Company, sometimes it’s a PLC, but ultimately, the company is a legal entity in its own right, which owns a member club that participates in the league.”
If the club and company are completely separate entities and the club is not subject to the same law as the company, then why would a club receive any kind of points deduction for a financial (i.e. company) misdemeanour? After all, the club is nothing to do with the company. Why should they suffer?
Answers on a postcard to :
Neil Doncaster (Director of Fun),
Scottish Pure Fecked League,
Norfolk-on-Chance,
Clowntownshire,
CL0 WNN.
!!Bada Bing!!
19:37 on 2 January, 2015
aiden bhoy-exactly,we are all still whistling in the dark,at the back of the bus …
________________________________________________________________
And, that is were we’ll stay till we get rid of the folk who sit idly – ensuring that we stay there, the Celtic ‘bored’.
The ‘bored’ are there to fight the Celtic fans corner – they don’t!
Off oot, bye
Gerryfaethebrig
19:56 on
2 January, 2015
All the best for 2015 to every single person on the blog, poster, lurker, troll or Sevconian in for a wee nosey, let the 3 bears try and find goldilocks, let the tax evader be the king to try and find a white horse to be the shining bloo knight, but do not to let the lies distort the truth it might be 2015 but that mob died, liquidation doesn’t differentiate ! I haven’t read back every article but “neustadt-braw” tell “Mr Celtic” he has put a wee smile on my face especially at this time of year when 99.9% of the blog. family or friends have been affected by the big C it was brilliant reading about your news Hail Hail & God Bless
………………………….
I certainly will my friend…………wishing you and yours a braw braw quarter past eight…
hail hail ….
braw
Big, daft flat topped Doncaster goes all fundamentalist about the ‘institution’ then less than 24 hours later…
KABLAMMO!
Really really blue blue, true blue, uber blue hairy bears start buying ‘reasonable’ amounts of shares in the OldNewOldco Show…
Jamesy, Jamesy Traynor – Jabba’s yir man!
Churn
I wonder if our 2nd Generation of Domination is at Risk with Kings takeover at Ibrox
Will Lawwell intervene or act as a silent cheerleader ?
Answers to RC Ogilvie
bada bing!!
20:00 on 2 January, 2015
Lost me I know nothing about sevco or care for that matter. Think your back of the bus rubbish was laughable. Hence drama queen
Brogan Rogan Trevino and Hogan supports Oscar Knox, MacKenzie Furniss and anyone else who fights Neuroblastoma
19:39 on
2 January, 2015
Anyone with 15% or thereabouts gets to automatically go to 30% and so has to make an offer to everyone else.
How exactly does that work??? If they all buy in it’s status quo, they can only get close to 30% if nobody else buys a share, and even then it’s actually below 30% it’s 30/115
https://www.youtube.com/watch?v=RL_rYCgn6uk
A song for all our progeny and John Guidetti
BRTH
About the new share issue, 4 people with current 15% couldn’t become 4 people with 30%?
Would the %ages not stay the same but the share volume double?
Natknow
So not a thing has been learned over the last three years. Really beginning to think what’s the point of putting money into this anymore. More to come in next couple of weeks and as usual it will only benefit one club.
The darts is great viewing. Not a sport, but great drama.
Taylor 2-2 Van den Voort
Uly
Here’s me thinking it was all coincidence :-))
happy new year Zimmerman , from previous article, keep posting !
Favourite uncle
what do you think ?
I asked a question
You dont need to answer.
Its up to others what they do
I cant vouch for them.
Im sure you have an idea -welcome it
Doncasters credibility was shot to pieces
when it was revealed that the SPFL paid BT Sports
to cover Sevco games on the basis that it was
‘fundamental to the ongoing health of the game in this country’.
It is incredulous that PL was unaware of this deal.
Not that I agree with any of it, but…
Old firm = money and lots of it via ticket sales, merch, tv deals etc etc.
You can see why Doncaster wants it among others.
Oh and a league sponsor….
Gordon64
You can be incredulous or it can be incredible.
Semantic Tics :o)
embramike
20:10 on
2 January, 2015
spot on mate, just beat you to the punch
embramike
20:10
Spot on, I think some on here may be in need of a refresher coure in basic maths
Uly
Hope you caught my reply to you yesterday my friend.
Aiden Bhoy
20:10 on
2 January, 2015
Natknow
So not a thing has been learned over the last three years. Really beginning to think what’s the point of putting money into this anymore. More to come in next couple of weeks and as usual it will only benefit one club.
—————————————————–
I think a lot of people are thinking the same mate. I personally think it’s a function of the fact that football is unlike any other business. Fans like us want a level playing field. People who run the game do so on a purely commercial basis. Never the twain etc. It doesn’t need to be that way of course, but to change the current model to meet everyone’s expectations requires some degree of professionalism, imagination and integrity. All of which are lacking in the custodians we have. Sorry.
Taylor 2-3 van den Voort
Squeaky bum time, Philip
adi_dasler
your Q.yes slightly.
my Q.less than 8k season tickets.