GLASGOW, SCOTLAND - MAY 11: Rangers Chief Executive Officer Patrick Stewart during a William Hill Premiership match between Rangers and Aberdeen at Ibrox Stadium, on May 11, 2025, in Glasgow, Scotland. (Photo by Alan Harvey/SNS Group via Getty Images)
After more than three months of hype delirious Ibrox fans were yesterday celebrating a Press Release.
As most folk will know a Press Release is a soothing form of words, every club deals in them with a largely compliant media happy to relay the ‘news’ on to their audiences. Ask questions and you miss out next time.
The Sun opened their report with.
RANGERS’ new American owners have vowed to take the club back to “the top” after sealing their £90million takeover.
Fans gathered at Ibrox to celebrate as the historic deal, backed by San Francisco 49ers Enterprises, was finally confirmed.
Strangely there is no detail on the £90m deal, probably because there was nothing on Companies House about the deal. The sellers aren’t named, the price paid isn’t named but it is certainly great news all round. Andrew Cavenagh’s consortium doesn’t even have a name.
But handed a press release and favourable whispers the messengers were off and running.
The Daily Record priced the deal at £75m, there has barely been any mention that the unlisted PLC will be going private at the EGM which removes the need to stage an AGM and various other awkward regulatory requirements.
There are no comments from Douglas Park about the deal, his son Graeme has been booted off the Board of Directors.
According to In The Know Chris Jack of the Rangers Review, Park, George Taylor and Stuart Gibson will retain at least 5% of their shares but the un-named consortium have somehow obtained 51% of the club shares. That detail has still to be published.
The Sun report added:
Champagne corks weren’t popped at Ibrox.
There wasn’t even a media conference for the messengers to gorge on. Not even a tame in-house Rangers TV interview to republish.
There were no wild celebrations in the Blue Room when the deal was finally signed, sealed and delivered.
Rangers’ long-awaited change of ownership was ratified just before midnight on Wednesday.
But after months of tense negotiations the famed Ibrox marble staircase was silent.
Despite reports to the contrary, consortium frontman Cavenagh was in the US when the final, crucial email from the SFA approving the shareholding agreement landed in his inbox.
The legal teams working overtime to finalise the deal were behind their computer screens in London and San Francisco.
It was e-signatures that were required to conclude things, rather than a pen swiping across a piece of paper.
Everything was done remotely and quietly.
By this morning, though, the takeover was announced to the world.
Sky Sports News barely mentioned the Press Release despite sending Gordon Duncan and a camera crew to Ibrox to record the historic deal.
A few stray bears were milling around outside the stadium, they were pictured and quoted.
With no manager in place the club has one pre-season friendly announced before the Champions League second round first leg match on July 22/23.
The first tranche of the £20m war-chest will be used to pay the first instalment on the £4.5m Oscar Cortes fee, the payments for Cyriel Dessers and Danilo in 2023 have still to be completed as will the fees agreed for Nedim Bajrami, Robin Propper and Hamza Igamane last summer.
In March a payment was made to the club by Macquarie Bank, effectively handing over the future payments due to be received for the transfers of players such as Glen Kamara, Fashion Sakala and Malmo legend Antonio Colak. Last summer’s fire sale raised £810,000.
Leon Balogun, Vaclav Cerny, Tom Lawrence and Ianis Hagi have left the club with Jose Cifuentes, Ben Davies, Rabbi Matondo and Kieran Dowell returning to drain the wage bill.
Lyall Cameron has been secured for the Revolution! with his fee decided by an SFA Tribunal.
£90m to get just 51% of that basket case in Govan
Who is the source of that guff TGASL
First on the agenda …. flog the BIG HOOSE and lease it back to them .
Cmon ye all you know you want to .
Big Mike will give you some pointers as how to milk that cow
Not one of your sycophants here.
Months of stating it was a fakever.
Will you do the right thing and issue a full apology for your pompous rantings.
Ordinary punters were being mocked by your arrogant self stating that they were talking nonsence.
You have embarrassed yourself.
Genuine question Editor…Is it still a fakeover …or now is it a takeover ?…My brother lurks on FF…and he says the scum are having orgasms over this…Now with their average IQ being the same as The Union Bear’s average ages…I don’t expect them to know 4/5 ths of feck all about it either…but hopefully you can educate me and the Sevco lurkers on here….Oh and he said you were mentioned in more than one post….Sue the bastards…lol.
Editor: We will find out in the document for the EGM and how the vote goes. Yesterday there was nothing but a press release. Significantly Graeme Park has been booted off the Board, I really can’t see Douglas Park writing off his loan while King salvages something for his shares. How have they achieved 51% of the shares?
No media conference, no RTV interviews, no Companies House announcement/update and the intention to take the club private…
3.5p per share, they’ll steady the ship whilst hoovering around £500k each per annum and after years of austerity and the share price rising to say around 13.5p per share…..Ta Ta
HH
Editor
Take it private and no pesky questions to be asked and answered and club 1000bc no longer of any relevance or king for that mater. Everything behing the curtain and a club sells its very soul all to beat 1 club instead of the support steping up they are again found wanting just like any crisis since 1914 they hide
Why not buy what shares (up to any trigger point) they could quickly then have the club issue new shares that would bring their total shares to 51% and it could have been over in two weeks with the club receiving the money for new shares to help buy kane etc
Plenty of funnies in the article..
Thanks to the Comedy Club / company
Thanks for this…Yes it does seem “murky ” and not very clear …Time will tell.
But I have to repeat a question I asked a while back..
Who, in their right mind , would invest millions into Scottish Football ?
Years ago…a financial guy at Sevco ( Robertson ? ) admitted that their future solvency would depend on income from European competitions.
I said, at the time, that that was financial suicide.
I was proved right.
So what has changed that would bring in investors ,spending millions upon millions of pounds ?
Well nothing as far as I can see.
There are still only two sources of major money to be made in Scotland…
One is CL qualification obviously…but that’s hardly a given
And the other is profitable player trading…and that’s unquantifiable.
Did any Celtic supporter ever think they’d see the day when we sold 3 players for £25 million each ?…
There is absolutely no doubt that player trading for us, has been hugely beneficial…but it’s not something that any club should remotely rely on.
So I ask again…?…
Who, in their right mind, would risk multi-millions on a hope and a prayer ?
So let’s hope it all goes tits up…again !!
Im with u on that.
That basket case has lost 10m + every season it has operated since 2012.
They have no big ticket players.
There is no guarantee of CL football.
The ground is crumbling.
There are loans left right and centre owed.
The fanbase are as toxic as any worldwide.
They do not command large sponsorship deals.
There is no money to be made from playing in and winning the SPL.
The only reason Celtic are in the position they are in is fiscal responsibility and player trading that is proven to be admired all over Europe.
Just what exactly did any investor see where the money comes from after due diligence?
There’s something very smelly about the whole thing and I fully expect one of the things we will see is the return of “ pattern of assistance “ next season.
European money must be at the centre of every plan they’ve made, so I would expect the MiB cavalry to come to their assistance.
Think so Bhoy4life regarding the cheats with whistles flags and monitors for sure…
Perhaps the purchase can be a dirty dodge to offset tax in America but I couldn’t be too sure of that ascertation all the same !
Pay lower wages, finish second,in the league, a few games in europe, semi or final of domestic cups ,
full house at games, gives them time to find a diamond and make a few bob
Will they cut wages?
Will they find a diamond?
If believed…hardly a great start to business, spending £90M on shares worth a hundredth of that.
Isn’t it amazing how 2 scoops from the same rag Daily Record paper can be £25 million pounds different in their assumption of theRangers share sale cost in a few short hours apart ? Wee Scotty has the deal at £100 million pounds ! His fellow theRangers reliable reporter – big Andy prints up that it was £ 75 million sovs ! A mere £ 25 million pounds of a sale difference …and no editor or boss at the tabloid asks how this is possible ?
At least 1 of the scoops is telling lies ! If it turns out that both were ‘ goosing ‘ the figures , then both were lying to their dozens of readers ! Oh , the Scottish Sun has the sale at £ 90 million pounds ! Are they all at the ‘ shady numbers ‘ game ? The , shut your eyes and ‘ think of a number ‘ game ? Remind me again …why does the new ‘ rich owners ‘ need another share issue again ?
They could get a takeover headed by Ian Huntley , Rose West and Joe Fritzel and they two gimps would be lapping it up
They’re pathological liars towards ya Valentines…
I wouldn’t believe them or far worse financially support them –
Hope you found The Scummy ‘lying’ on a bus or a train !
The quarterly share issue is set up already to raise £20m why when we were all told for every £1 at Leeds, Sevco will get £1.
Once they go ltd hats when the stripping begins and they don’t need to tell anyone. No AGM no public notices sell the assets to the consortium at a discount and rent them back at a premium. They will survive to pay dividends and nothing else.
They certainly won’t need to reveal f**k all to The Scummy SFA for sure…
But surely they will need to send annual accounts to UEFA I’d like to think !
Clach,
UEFA’s oversight is more frequent than that, quarterly I’m led to believe.
The risks are far too to great for the new Board to try and stiff UEFA. Permanent bar from UEFA Tournaments possible, even a 3/5 year ban would fatally fuck up the New Board’s plans for achieving sustainability.
Jimmy says
You’re embarrassing yourself with that comment.
Did you even read any of James’s pieces on it.
He outlined several possible scenarios.
He described the routes available for the consortium’s to achieve a takeover.
He stated on more than one occasion that a takeover of sorts could happen just not the 49er Sugar Daddy one the huns were ‘creaming themselves’ over. This is the idea that he mocked that a huge enterprise like the 49ers would bother to get involved with a provincial,bigoted and permanently loss making Scottish Football Club.
The 49ers are not and never were part of the consortium. The Leeds Chairman operates under the 49ers aegis. His participation in the Tribute Act takeover is a private venture as part of the consortium. The 49ers,, if they were interested, with the money they have behind them, would not have needed to be part of a consortium. The only Public statement they have made on the Takeover bid was that IF they were to be involved, Finances would not be part of the deal but that they could provide Specialist help in terms of sharing ‘best business practices’.
James has been proved correct and unless 25% of the remaining shareholders reject the consortium’s plans on the 23 June they will have lost their Club for good.
Think you’re mixing up your bloggers, Jimboh. This is Joe’s Video Celts, not James’ Celtic Blog.
Or have you got it right and it’s Jimmy who is on the wrong blog? ?
The next Revolution has started – be afraid, Timmy
https://x.com/TheIndyNinja1/status/1928755605570793705