Ashley ups his Stake

[der Berliner 3,263]

How can he rectify it if he is met with shareholders who don't wish to sell ? How many outstanding shares are available in the Club ?

 

The point was not about whether he is able to to do it right now, but that he could regain the support of all Bears if he ends up actually doing something. He had his chances, declined to take them (for his own reasons) and hence we ended up with these silent Priors and not-so-silent Laxeys and whatnot. Neither of them wanted as close a look into the accounts as King wants them (and rightly so, IMHO), and i for one doubt that these people are any less shrewd in what they are doing as King is. What gives us pain is that all these people - all and sundry - play their games with our club.

 

5 to 10 million investment would only see us through the end of this season... MAYBE.... So you think the current squad are capable ?

 

That's not what I said. I was referring to transfer funds. So yes, Ashley might have to invest more, King might have to invest more, but they are not the only factors that will finance next season either.

[Ser Barristan Selmy 222]

"Interesting" to see how various non-Rangers people view a return to top tier and CL footie in a much shorter space of time than quite a few Bears. Perhaps they assume that Ashley could invest 5 to 10m, i.e. "peanuts", to get us a squad that could compete for the top tier title next season and in Europe thereafter. It's not that the Yahoos or any other Premiership team is unconquerable these days ...

Oh you comedian!

[craig 5,199]

The point was not about whether he is able to to do it right now, but that he could regain the support of all Bears if he ends up actually doing something. He had his chances, declined to take them (for his own reasons) and hence we ended up with these silent Priors and not-so-silent Laxeys and whatnot. Neither of them wanted as close a look into the accounts as King wants them (and rightly so, IMHO), and i for one doubt that these people are any less shrewd in what they are doing as King is. What gives us pain is that all these people - all and sundry - play their games with our club.

 

 

 

That's not what I said. I was referring to transfer funds. So yes, Ashley might have to invest more, King might have to invest more, but they are not the only factors that will finance next season either.

 

So transfer funds are all we need now is it ? Make your mind up. Those transfer funds mean nothing if the club has no money to pay the bills. Your view is adolescent financially. You can't talk about 5 to 10 mill of investment.... But then want to say "that's just transfer fees". The investment needed is as a whole and it won't be peanuts I assure you. You think Ashley, or anyone, will be ignoring the working capital funding needs and just looking at transfer fees needed to win the title ? As businessmen of course they won't. If they are then they are unbelievably stupid.

 

Finance next season ? We need money NOW, we have revenue streams being given away, our retail operation is basically owned by another business. The only significant funding will be the fans.... And that won't cover the expenses if they remain at current levels.

 

Who is "rightly so" to not want a look into the accounts ? Do you mean King is right to want a deep look or Laxey right to not want to look so deep ? My response is very different dependent on what you mean.

 

And 5 to 10 million won't be enough for us to contend. Celtic would still outspend us.

[der Berliner 3,263]

craig ... you disected my reply to the blog article and took it out of context*. I tried to explain it, only for it to be disected further. We all know how much it costs to run the club and to keep it competitive. We all know that we need money now. That's part of a different debate though and there is no need to start a slagging match.

 

*The Newcastle chap was like me refering to transfer money required to build a squad able to challenge for the Premiership title. In the day of free transfers and loan deals, one can argue whether more is needed or not. I'm not sure whether any football the Yahoos have played these past 12 months has impressed anyone on here or turned them into something unconquerable. We'll soon know how our current squad can cope with the team that tops the PS table and has already beaten the Scum. No-one is saying either, beating ICT or looking for PS titles, will be easy. Neither do we know whether the current squad will keep disappointing us with their football (if not results) , or whether next season's squad will.

 

NB: The Yahoos have essentially outspent us these last three years hands down. And look what sort of rubbish squad they have assembled.

[craig 5,199]

craig ... you disected my reply to the blog article and took it out of context*. I tried to explain it, only for it to be disected further. We all know how much it costs to run the club and to keep it competitive. We all know that we need money now. That's part of a different debate though and there is no need to start a slagging match.

 

*The Newcastle chap was like me refering to transfer money required to build a squad able to challenge for the Premiership title. In the day of free transfers and loan deals, one can argue whether more is needed or not. I'm not sure whether any football the Yahoos have played these past 12 months has impressed anyone on here or turned them into something unconquerable. We'll soon know how our current squad can cope with the team that tops the PS table and has already beaten the Scum. No-one is saying either, beating ICT or looking for PS titles, will be easy. Neither do we know whether the current squad will keep disappointing us with their football (if not results) , or whether next season's squad will.

 

NB: The Yahoos have essentially outspent us these last three years hands down. And look what sort of rubbish squad they have assembled.

No slagging match here dB.

 

You may or may not be missing that Celtic have downsized in that period, gaining some hefty transfer fees in the process. I have no idea of their financial state but I do get the impression they have been keeping their powder dry until we return to the top flight. I could be very wrong there.

 

However, regarding the 5 to 10 mill investment statement.... It is still incredibly naive to ignore the funds needed to run the club. Investment needs to cover both working capital, transfer fees and increased wages, notwithstanding ST monies from fans

[forlanssister 3,050]

Neil Cameron: Just why is Mike Ashley putting so much money into Glasgow Rangers?

 

Why is he doing this? Can he do this? What does it all mean?

 

Some estimate his personal fortune to be close to £4billion, so to be perfectly honest he can do what he wants.

 

But why is the Magpies’ owner becoming more involved with the Glasgow club? Here we look at the reasons for the Newcastle United owner getting so involved with a club fallen on hard times that plays in country whose football wealth is a faction of that in the Premier League.

 

What has Mike Ashley actually done at Rangers?

 

A text came through from a pal in Glasgow that simply read: “Ashley’s tanks are on the Ibrox lawns.”

 

That’s a good summary of the situation.

 

Before the latest revelations, brought to the public domain courtesy of the Daily Record’s Keith Jackson, we knew Ashley invested £30,000 into the club and that was estimated to be 9% of that company’s share capital. Or three million shares at one pence, 5.2% of its issued share capital.

 

He has already thought to have made a £700,000 profit on that. Not bad business, that.

 

Ashley has now taken full control of the club’s retail stores. That’s a lot of store room for Sports Direct. He got all of this for a song.

 

It has also transpired that he bought the naming rights to Ibrox for, wait for it, £1. Yes, Rangers who not so long ago were paying more money on wages and transfers than just about every club in Britain are that desperate.

 

He doesn’t own Rangers. Not yet. But he is by far now the most important man at the club. Ashley was also asked to underwrite a £4m share issue, but for the moment that has not happened, as far as we know.

 

So why is he interested at all in a Scottish club that are still not in a top flight?

 

Rangers are in massive trouble. There is no money and a club that size cannot afford to even limp along with all their staff and a massive stadium to look after with the revenue that is coming in.

 

But don’t think for a moment that Rangers are a bad deal. If someone had the money, they could go in there a buy a football institution for a bargain.

 

Then they could pump a bit of cash in to get them to the SPL with the aim of heading to the Champions League in the not-too-distant future . . .

 

And then sell the club for a massive profit some time down the road.

 

Don’t be fooled by the fact Scottish football is struggling a bit at the moment. Rangers are a club with millions of supporters all around the world. That’s a lot of people walking around with tops with the Sports Direct logo on them.

 

Long-term plan?

 

Your guess is as good as mine. Ashley can still own Newcastle and have an interest in Rangers, something we will look at in a moment.

 

If I had to take a punt, I would say he isn’t going anywhere, not in the near future, and yet has worked out a way to increase his company’s profile in Scotland. The Albion Car Park, situated beside Ibrox itself, is a Steven Taylor clearance away from the M8 and owned by the club.

 

It would make a cracking spot for a massive sports equipment store of some description. Just a thought.

 

Do the Rangers fans want him?

 

Not particularly. They certainly don’t want Ibrox being renamed as the Sports Direct Arena.

 

The fact is that the club wouldn’t actually earn any money from such a change. Sound familiar?

 

But they are struggling to pay the bills. A second administration (the club was also liquidated in 2012) is far from an impossibility, so they need someone to help out.

 

And Ashley has the money.

 

A South African-based businessman called Dave King has talked a lot about investing. He’s not done it yet.

 

Rangers are running out of cash and options. He might be their best choice.

 

Can he own two clubs?

 

Ashley can’t own two clubs in the Premier League. But theoretically he could own one in Scotland and also Newcastle.

 

The clubs play in different competitions, but could meet in Europe and this is a problem because clubs owned by the same man cannot play each other in the Champions League or Europa League.

 

But here’s the thing.

 

Uefa’s rules say he could own less than 50.1% of a club and not be considered an owner. They see an owner as being the man who has the majority of voting rights and the power to remove directors.

 

Or to put it another way, the big boss.

 

So Ashley could own a lot of Rangers if he was seen not to be pulling the strings.

 

This means he could rename the stadium, run all the outlets, own a load of shares, as long as he doesn’t have any say in club matters.

 

 

And does this mean he is positioning himself to sell Newcastle United?

 

Ah, this is the big question.

 

Personally, I can’t see it. First of all, who is going to pay the several hundred million that Ashley would want?

 

The guy is brilliant at making money. According to Forbes he is the 252nd richest person on the planet.

 

And if Sports Direct can benefit from his owning Newcastle, having a stake in Rangers and also Oldham, then that’s what he will do.

 

There may be some obstacles in his way.

 

However, mega-rich, powerful, business men tend to get what they want.

 

That's just a Party Political Broadcast for the Mike Ashley/Sports Direct Party.

[Super Cooper 0]

No slagging match here dB.

 

You may or may not be missing that Celtic have downsized in that period, gaining some hefty transfer fees in the process. I have no idea of their financial state but I do get the impression they have been keeping their powder dry until we return to the top flight. I could be very wrong there.

 

However, regarding the 5 to 10 mill investment statement.... It is still incredibly naive to ignore the funds needed to run the club. Investment needs to cover both working capital, transfer fees and increased wages, notwithstanding ST monies from fans

 

An SPL Rangers need at least £45m to operate on an even keel.

 

A lower league Rangers need £30m.

[Ser Barristan Selmy 222]

craig ... you disected my reply to the blog article and took it out of context*. I tried to explain it, only for it to be disected further. We all know how much it costs to run the club and to keep it competitive. We all know that we need money now. That's part of a different debate though and there is no need to start a slagging match.

 

*The Newcastle chap was like me refering to transfer money required to build a squad able to challenge for the Premiership title. In the day of free transfers and loan deals, one can argue whether more is needed or not. I'm not sure whether any football the Yahoos have played these past 12 months has impressed anyone on here or turned them into something unconquerable. We'll soon know how our current squad can cope with the team that tops the PS table and has already beaten the Scum. No-one is saying either, beating ICT or looking for PS titles, will be easy. Neither do we know whether the current squad will keep disappointing us with their football (if not results) , or whether next season's squad will.

 

NB: The Yahoos have essentially outspent us these last three years hands down. And look what sort of rubbish squad they have assembled.

You don't seem to have a good grasp of the situation we are in, with your 'perhaps they assume' comment, which implies you agree.

 

We need large sums of money just to avoid bankruptcy. Even if we do sort our finances out, who are these freebies we are going to be signing with no scouting network, an incompetent manager and very limited wages? What signing on fees will we be offering? We were poor at spotting bargains even when we were offering players £25k + per week and we won't be offering a fraction of that any time soon, if ever again.

 

Celtic might not be up to much but they have plenty cash and will spend as soon as they need to. As things stand we require a huge cash injection to even hope to begin to match them on the park.

 

I don't doubt a decent manager could challenge Celtic with limited funds (look at Legia and Maribor), but we are a financial black hole and need a whole new squad. Who in our squad would get a game for Celtic? Macleod, who else?

[the gunslinger 3,366]

We also will have to battle against "onerous contracts" for god knows how long.

[BrahimHemdani 1]

It might not be that easy for him to get to 10%

 

The total number of shares after the Offer will be 85,675,259, so 10% = 8,567,526

 

He has 3,000,000 at present entitling him to [0.30185 x 3,000,000] 905,550 in the Offer, so his total then would be 3,905,550.

 

In order to get to 8,567,526 he would need to be able to acquire 4,661,976 Excess shares in the offer, which is 23.5% of the 19,864,918 on Offer.

 

So he needs that percentage not to be taken up and he needs to be allocated them by what process isn't clear in the Announcement.