There was been a lot of conflicting chatter over the weekend apropos what Mr King will announce tomorrow at Ibrox.
After the embarrassing coverage on Friday he might begin with:
“Dearly beloved we are gathered here today…”
Then again, maybe not.
However, I would not be surprised if Mr King told the presser that:
He is proposing a rights issue of, say, 25p per share.
Now, for the avoidance of doubt this unlikely to meet with the approval of the Takeover panel, but hey ho.
Moreover, that he expects his fellow directors to indulge in a bit of debt forgiveness and not take any shares in return.
Of course, a cynic might conclude that such a move might be a glib and shameless way of putting his Blue Room colleagues under intense emotional pressure.
As ever, Mr King may well have a cunning plan to deploy OPM.
Who will buy these new shares?
A good question.
Aon rud eile
I understand that the Serious Professional was instructed to contact Shirebrook apropos the retail deal.
Remember that great victory over Ashley?
Yeah, that one.
Well at the moment Big Mike is being noncommittal.
He knows he holds all the cards.
So £6m from a share issue plus any money generated from transfer fees.
Thats a joke surely. The share issue thingy may never fly…. No memtion of his TOP/COS problem?
£6m won’t cover the bill to pay off Pena, Herrera and Alves.
Perhaps the plan is to keep them and Stevie G will make players of them?
Any truth to Murray investing in sevco ? Bit ironic that king and Murray are on the board which ran oldco to ruin now to come back haha scam of the century. Kinda makes you think it was planned all along.
Where do you start with the clear out.
A defence that can’t defend.
Fod
Tav
John
Hodson
Martin
Alves
Cardoso
McCrorie
Wallace
A midfield without pace and power
Docherty
Dorrans
Halliday
Goss
Jack
Pena
Herrera
Holt
Murphy
Candelas
A forward line that hardly troubled Celtic over 180 minutes.
Morelos
Cummings
Windass
MOH
Dalcio
Miller
Where do you start cleaning up that mess?
I see Guardiola and Morinho being linked with 2 young defenders currently plying their trade in Europe.
Quoted transfer fees? £50m and £60m respectively.
What price KT?
If the Dons win on Wednesday then Rangers can’t catch them. If Hibs pick up 3 points midweek then a draw at home to Rangers on the final day will result in a 4th place finish for the Ibrox club.
So, unless Motherwell win the cup and take the final Europa Cup place, the 4th placed SPFL team will kick off in the preliminary rounds of the Europa in July, unseeded.
A bit of a dilemma there for the
fans, cheering on Celtic to a historic double treble!
Even if Gerrard is a miracle worker turning things round in a season with a new squad is a step too far.
Brendan is talking of further improvement next season so Celtic won’t be standing still whilst Stevie G waves his magic wand.
Lets hear what King delivers at his presser today.
If he even hints at a rights issue perhaps one of the specially selected journos will raise the issue of King’s TOP/COS problem……silly me, that’s not why they have been specially selected!
With a 4 year contract signed and sealed when will the new manager be moving his family up from Southport to join him?
Serious Question:
How big a share of the £20m TRFC debt to RIFC will my 25p get me?
And which of the companies will be the one to go insolvent? Is it the one with the … ahem “club” and the debt, or the one that the shares are in?
And since RIFC aren’t listed, if the rights issue is not subscribed to, how could the rights issue ever be underwritten?
Isn’t a non-underwitten rights issue in an unlisted company just a ponzi scam?
Only asking, because I happen to have an A4 stationary box full of share certificates here for anyone who thinks it isn’t. Highest bidder and all that.
When one’s team don’t do any worthwhile talking on the pitch, one needs to look for other fora. However, smoke and mirrors, subterfuge, grandstanding and snake-oil don’t win football matches, far less pay wages or settle invoices.
An excellent piece Phil. A masterclass of restraint!
Bhoys, we should not overly concern ourselves about what might happen tomorrow or in the future – GASL is highly likely do whatever he thinks will benefit him under the pretext that it’s all to the benefit of the club that JB played for.
We need to make sure that our club takes the necessary steps to ensure that we continue to be the number one club in Scotland- that means continued investment in the playing squad at the highest level but more importantly ensuring that Brendan remains with us for the foreseeable future
With that kind of calm measured approach by our board, me thinks Mr G might be back down south sooner than he could ever imagine HH
Bank holiday statements from Statement FC..
Can’t wait!
I wonder if Wullie Hill has odds on what Glibby will say?
Wouldn’t be surprised if he wheels out Mr Moonbeams, The Krankies and Bungle from Rainbow as new investors and board members.
Even more fantastical…. He introduces David Murray as new chairman of Rainjuurz and bows out saying he has left the club in good shape but has other work to do. (Read as, GIRUY, I’m off South to count the cash before the TOP, polis and COS come after me!)
Thought this lot were sinking never to be heard of again , yet here we are preparing for next seasons onslaught from all angles ?
Wtf are you guys saying about this now ?
Eight is going to be seriously challenged , in Brendan we trust
To misquote Paul Keating “We’re going to do them slowly”.
Are You sure you trust Brendan?
Do you have a Twitter account featuring the numbers 1690 or 1872 ?
No pal I haven’t. I’m just concerned all this talk for yrs of them going tits up again and now this. All I’ve been reading is how king and his lot have been misleading their fans only to see SG walk through their doors with a cash injection promise I’m a Celtic supporter son , don’t ever think not ! I suffered through the nineties and I’m worried it’s happenin again
Pat Nevis Barnet – you should be concerned too son. But don’t retaliate by accusing fellow fans of supporting the other side
Phil; I’m no expert on share offerings or of setting the price on any such endeavour. However, there’s 2 questions that I’m wondering about;
1. Is King not currently being forced to offer to buy back shares from all current shareholders at 20p? Why would a new issue have an offer price of 25p?
2. To sell any new shares, don’t you have to provide financials etc to support the valuation?
Considering that the holding company offering the shares owns only a football club that has made substantial losses in each of its first 6 years of existence, surely the value of current shares is somewhere around 0p.
It seems to me that the ONLY people who could seriously be expected to buy shares are the fans. History of previous share offerings purchased by fans have been, to put it mildly, underwhelming. So I agree with your point about who will buy these shares?
I will end with this last point. The money raised by the share offer goes directly to RIFC, not the club. King is running everything and can basically do what he wants. Once the share offer has happened what would stop King from using those funds to buy out his own shares at an inflated price and simply walk away with a nice wad of cash?
Any truth in the rumours of a director from across the motorway from Motherwell resigning and being to court looking for several millions back.
Quite remarkable !
it beggars belief!!!
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King will be full of himself tomorrow a don’t think he will disclose any clues on where the money is coming from just as long as he gets it out there that money will be coming in . Gerrard said it himself it’s not about where money or investment comes from its about winning .
Comment edited for seriously defamatory content.
I don’t often say this, but do not come back to this site and post ANY comment again.
Non-negotiable.
Wow, brave to say enough to say behave to posters, a good while since I posted here Phil, I posted for the Union rather than pro independence, I thank you for allowing my posts at the time. All of us should remember to behave on-line, sadly the boundaries get pushed, kudos for being on the ball. I’m probably the last guy you want, ie I’m a fan of jj,but you run great and fair blog, thanks , Frank.
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This clown was dragging your blog down even with the posts you approved…
About time.
But…but…Far Eastern investors…Gerrard…lucrative Asian market…
I love a good wedding. https://theclumpany.wordpress.com/2018/05/05/here-comes-the-bride/
As Dave Edmunds once sang, I Knew The Bride When She Used To Rock’n’Roll! ?