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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Genuine names section
A friend of mine and a lurker/seldom poster on here attends his local physician called
Dr Lionel Pills
Earlier in his life his wife was referred to the Sufferin General in Govan for a knee problem and saw another physician called
Dr Bones
He was also was stopped for speeding and the polis was
PC Constable
Natknow
Exactly
RWE
Thinking of that and its a random one, me and my mate were talking of Collins John the other day, and also John Collins, can you think of any other footballers with the names that are opposites like that?
Collins John – John Collins
We couldn’t get anything!
Collins John was crap also!
Robert88
Doncaster represents all the clubs in the league. It is all about English armchair fans mainly. Selling the hatred of the Old Firm game. The Roman ampitheatre atmosphere of ” We are the Romans we hate the Christians with a few man eating Lions thrown in.” Welcome to Scottish football 2015 …well it is certainly not the football.
HH
Off to watch corrie;))
HT
I did mate – was heading out to a family do. I fully appreciate your reply.
I know we’re all torn in this. Knowing you as I do – I wouldn’t expect you to be anywhere else come that day in February, no matter the team.
Your post made me think about the fact that ‘that mob’ can only steal from me that which I allow to be important.
And they, my friend, are not important.
U
Robert88
Not so far I can’t. Has the making of a decent Friday quiz question though
:o)
Leighton James
James Leighton
Robert88
Leighton James
James Leighton
Jim Leighton I remember, the other ways before my time!
That’s settled it for me though, learn something new every day! any others so I can take that back to my mate?!
Favourite Uncle
Thanks for reply
I think they probably would on my Q
On your Q – reason for only rise by 8k (feeling of fans etc) or based on our current stadium fill ?
Jim Leighton could be nutmegged from the half way line
bowleggedcsc
Uly
Good man you are.
I will never allow my support of Celtic to be determined by them, in whatever entity they appear.
Phil is obviously having problems tonight, he has protected his tweets, the unwashed undead are revolting again
Evening Bhoys and Ghirls
The list ( not had one for a while) of entrants so far for Last Man Standing 3 which starts a week tomorrow.
Black Cat
celticrollercoaster
deccyrollercoaster
Mrs CRC
Celtic Rose
Jobo Baldie
Leftclicktic
The Lurker
Kolncelt
B-Boy
EmbraMIke
Praecepta
Thecelt45
Blantyre Tim
16 roads
Gearoid1998
jamabhoy
Martybhoy59
The Exiled Tim
Travel Bhoy
Bobby Evans Superstar
Smashing Milk Bottles
GG
Bada Bing
Lennybhoy
Cowiebhoy
GuyFawkesaforeverhero
Colour Blind Bhoy
Bognorbhoy
The Little Gentleman In The Black Velvet Waistcoat
Setting Free The Bears
Gretnabhoy
Hamilton Tim
Angel Gabriel
Hoop and a Prayer
Paddybhoy1888
MurdochAuldandHay
jamesgang
Thommy Bhoy
stpatricksbhoy
The Token Tim
BMCUWP
If we have missed you off the list then drop us an email
Not to late to join the 42 experts (?) above.
It would be great to make the magical 50!
HH
CRC
cqnpredictor@gmail.com
I’m not happy about us falling two games-played behind the other Premiership teams in the days after Monday night’s match at Rugby Park. Bad weather might even add to them.
I’d like Celtic to use the free mid-week leading up to the LCSF on Feb1. Can’t be Thistle they’ve a game against St Mirren on the Friday night that week, so it could be StJ re-arranged at Celtic Park.
Then there’s two available mid-weeks early in February to re-arrange the Thistle game ,which would catch up games-played before we play Aberdeen. Job done.
Over to you Ronny to collect all the points.
lennon’s passion-you are right,enjoy your Celtic View Christmas Special.
Taylor 3-3 van der Voort
Taylor missed 8 double attempts. Outta jail big time.
magnificentseven,
Philmac,
Will have something to say on the goings on at ipox, tomorrow will make interesting reading…not on the smsm though.
adi_dasler
meant sell less than 8k not increase.
sipsini
20:37 on
2 January, 2015
yes, definitely an attack on him tonight for a reason, look forward to what he has to say
Wow, who’d have thunk there could be so much good news for Newco weeks before a league tie.
It’s as if the media were getting used. Or, maybe not used. Just – piggybacked. Strange because something like that has never happened before…
JABBA JABBA JABBA – tied his colours to the mast
JABBA JABBA JABBA – refused to accept his time was past
Quick quiz question.
In 2012 who said this?:
“Clubs can shed a huge amount of debt already,” xxx added. “Clubs can theoretically shed £100m of debt, agree a CVA at a penny in the pound and come back in with all that debt shed. Clubs can do that now within the rules.
NB Don’t be put off by thinking it couldn’t possibly be the same person who yesterday described a club as being owned by a company and it is the company that is the legal entity……
celticrollercoaster supporting shay,our bhoy wonder along the way
Can I join the list?
neustadt-braw
20:06 on 2 January, 2015
Honestly “Mr Celtic”‘s news was amazing reading, every bit of good news should be enjoyed as there is far too much bad news (health wise not stupid fitba stuff) anyway fae a wee Bhoy in Coatbrig who has had far too much bad news regarding that subject cheers for a great end to 2014 & good beginning to 2015… All the best to Ronny D as well, at least most of us want your too succeed Ronny !
Favourite uncle
Yeah probably
Favourite Uncle
8k less ?
Not in total surely ?
In case anyone else is a saddo like me and looking for a game to watch.
I’ve just found out Cardiff v Colchester 3rd round of Fa cup is on BBC2 Wales.
Were MASH on the ‘cusp’ of acquiring the Auchenhowie Deeds in exchange for seeing them survive till May 2015?
Are the 2 tranche of share purchases a surreptitious means of denying this…………
and at the same time avoiding the need to make a buy-out offer to all?
Follow the money (if the share price rises) – small ‘for sale’ packages will be sought to increase holding – a similar exercise previously carried out 1993/94 (another first?).
Or will big Mike stamp on them in a fit of pique?
Another ‘breasts north’ in the making – one party or the other is going to be financially smacked (and the other handcuffed to a donkey).
Pull up a seat and enjoy the latest episode!
Cheers a lot Dexter, can’t remember the last time sumbdy mentioned the darts on this fine blog,sky plussed it, just ready to press play and then find oot the score so far,cheers bud lol
Happy New Year all P67 and all CQNers, just away tae fast forward to 3-3
btw, cheers lionsroar67 for sharing the piece by Christian Wulff,spot on, most critiscising RD in the media have an agenda.
Email sent to SPFL and JPT
SPFL Board,
Can someone please clarify Mr Doncaster’s statement/s yesterday on his affirmation that the team that currently plays out of Ibrox stadium is the same club that went into administration and currently in liquidation,are the views of the SPFL board or his own?
He refers to the findings of the Lord Nimmo Smith enquiry suggesting that there is distinction between club and company, the LNS enquiry stated quite the opposite that the CLUB and company are one, Incorporated!
But that aside it is a complete and utter insult to the intelligence of every football supporter in this country to suggest that you are (according to Mr Doncaster ) allowed to ride roughshod over the rules of association football,spend money that you don’t have,suffer the ignominy of administration,then liquidation,suffer penalties both sporting and financial,start again as a new club(previously undisputed by the media and football authorities) in the lowest division of the game and then during an unrelated interview Mr Doncaster,unprompted may I add comes out with this absurd nonsense which is not only lawfully incorrect , but unhelpful to say the least.
I look forward to you reply
John Paul, I would like to know Celtic Football Club’s position on this and also look forward to your reply also
Yours Sincerely,
Mr T**********, Celtic season ticket holder.
HH
!!bada bing!!
20:36 on 2 January, 2015
No problem will read it up the back of the bus on the way to watch Celtic. He’s behind you
I think the Sevco shareholders will be involved in deep negotiations over the next few days. The Doncaster announcement suggests that he is paired with at least one of the factions, and successful negotiations should see them committed to pouring money in to keep the tribute act going while trying to pay off the non bears. Be interesting to see how much the spivs will take in order to walk away, it could leave the new savours too skint to make much of a difference. The new guys are likely to attract more of the old deadco supporters back to Ibroke though.
PFayr
From earlier. Never quite figured out the creation of the SPFL, but do now. You are absolutely on the money that the whole construct is a kind of failsafe mechanism ensuring the return of the new club to the top division, barring a twentyfive point deduction this season. Had the SPL and the SFL continued it would have made it far more difficult, though not impossible, to, if need be, create a 16-17 team top division in time for next season. Doncaster’s New Year’s day message, therefor, suggests that he, for one, is most definitely on message.
stairheedrammy
That faction has to be Goldilocks and the three bears.
HH
Celtic Mac
I thought that was clear from its inception along with Doncaster and Reagans spectacular pay rises and Longmuirs 400k pay off.
HH
Looking at Doncasters statement yesterday in another way. Was he telling the brogues Sevco is Rangers and no other entity can be ? Hence why they are going down the route of buying shares in Sevco as Rangers 3 was a non starter. The SFA doing their bit by blocking Ashley and helping getting the spivs out. Just trying to understand why they would start buying shares now .
Gordon 64 aplogies I haven’t responded sooner.
Doncaster was speaking on behalf of the SPFL. He has no authority to do otherwise. PL and Celtic are the leading club. It is inconceivable he isn’t aware and agrees with the party line.
But all you need to do is join the dots. The whole of the scottish media uses this rather fantastical story despite previously refusing that with aidrieonians. Celtic have said nothing publicly, ergo celtic agree and are part of the collective who makes these decisions.
Celtic are selling us down the river but don’t have the courage to look us in the eye and just tell us……
one more from Phil!