Keith Jackson has admitted that the Ibrox takeover by the San Francisco 49GERS is taking forever to complete.
On February 19 the veteran Daily Record reporter broke the WORLD EXCLUSIVE about the deal claiming that talks were at an advanced stage.
To gain 51% of the club shares mystery man Andrew Cavenagh would need to buy up all of the shares held by the six biggest shareholders after being introduced to Dave King.
The South African based ‘businessman’ has been trying for more than five years to dump his stake in the club
This morning Cavenagh and his consortium buddies have still to announce the purchase of a single share in the club- striking six simultaneous deals when there is deep mistrust of King from other shareholders would be quite an achievement.
Jackson has been pushing back the timeline on his WORLD EXCLUSIVE, this morning he warns Record readers:
Andrew Cavenagh and his American crew already look like being too late to the party as far as next season is concerned.
Cavenagh is thought to be a conservative, cautious operator which seems only natural too given that he has made his fortunes from healthcare insurance. His professional life has been based around risk assessment which will have made him adverse to taking short cuts or being rushed into decisions.
But, even so, this takeover is taking forever to complete. Yes, it is not a straightforward deal and there will have been a great deal of complexities along the way in pulling it all together. At one point in the proceedings the discussions involved eight different parties in eight different time zones and for that reason alone it was always likely to become a lengthy, drawn out affair.
The second biggest shareholder lives within 30 minutes drive of Ibrox but still no-one will go near Douglas Park to get his thoughts on the exciting takeover/transformation of the club that he has a £12m interest paying loan in.
But even those on the inside of this multi-million pound details are becoming frustrated to the point of exasperation by one delay after the next.
This plan has been on the table since October last year. It was scheduled to be concluded by April. And now here we are, a week away from June without pens having been put to paper.
It will get over the line in the end and Cavenagh will get the keys to the castle eventually.
But Rangers simply do not have time for all of this prevarication if Cavenagh expects to have a competitive side on the pitch in time for the start of the new campaign.
And, it must be said also, that some of the decisions which are being made in the here and now – by the people he has personally placed in charge of operations – appear to be flawed and ill thought out. Which might be the biggest concern of all for the club’s long suffering supporters.
Nine days after the last match of the season there is no sign of a manager being appointed, the draw for the Champions League second round takes place on June 17 with the ties being played on July 22/23 and 29/30.
Last week it was announced that Leon Balogun, Tom Lawrence and Ianis Hagi hadn’t been offered new contracts, all three loan players used last season have returned to their parent clubs.
Is Michael Nicholson doing a world class job as Celtic CEO?
YES- We are lucky to have such a visionary leader
No- Where is he and what does he actually do?
And we will still be fannying about just like Saturday while sevco drag their heels to give them the chance to be alongside us,can’t be seen to get to far away from sevco,as one hand washes the other as far our club and ibrox klub are concerned.
Joker ,our present board don’t seem to realise that if financial issues were the other way round sevco would trample us into the ground, remember that bastard Murray tried to get his own personal bank,ie bank of Scotland to foreclose on the loan they had with Celtic, Murray wanted to wash us down the pan.i hope they bastards go out of business again because I can’t think of many Celtic fans who would miss them,I certainly wouldn’t.
Difficult to disagree with that, Jim and I don’t.
BUT: “YES- We are lucky to have such a visionary leader.” Nicholson!!! Lawwell’s puppet FFS and that’s nearly 10% of replies?
Now I’m fully aware of just how gullible and deluded new hun’s fans are but Jesus H Christ, I’d never have thought that approaching 10% of ours were similar or probably even worse going by that voting.
As for Saturday’s shocker? The more I read ‘entitled’ opinion across several Celtic-supporting sites the more convinced I became that you can NEVER take a cup final for granted and beware banana skins. Robertson and co, were an absolute disgrace and it was SO evident it can only be viewed as corruption. Ist half especially Aberdeen were ‘industrial’ in the tackle yet THEY were being awarded free kicks every time instead of the opposite, the correct application of the rules.
And Celtic were poor all over the pitch. BUT, being a reasonable football supporter for life, a Celtic supporter for life, I didn’t take it too badly. Over 20,000 sheep fans came all that way and I don’t begrudge them their day. As long as it’s not the scum I can live with it and we needed a wake-up call so I just hope we remember that final.
Given Robertson & Co’s blatant cheating there’s even yet another chance for Nicholson and Lawwell to point this out forcefully and earn maybe 1% of what they get paid. Who knows? Stranger things have possibly happened but I doubt it!
Just think of the money and merchandise the club lost out on with that defeat on Saturday.
No doubt there will T-shirts with treble winners lying in a bin somewhere that the players had been ready to show off,this is what happens when complacency sets in,take note.
“…it must be said also, that some of the decisions which are being made in the here and now – by the people he has personally placed in charge of operations – appear to be flawed and ill thought out.”
Decisions such as “the fans need to stop being a shower of racist bigots”? Aye they certainly haven’t thought through the practicalities of that one. Satan on ice skates is more likely.
Backtracking on his lies then…
But he’s still having the most fantastic Monday all the same thanks to Celtic and their pish on Saturday…
Choke on your Schadenfreude ya Scummy Orange Bastard Jackshun !
Warning to UK Sevco shareholders. Do not accept $TRUMP bitcoins from Liberty Financial. Must be British Pounds. The UK Government should declare cryptocurrencies as illegal tender in Great Britain and its territories. In the Virgin
Islands, cowrie shells are OK. Someone must take the wind out of Trump’s sails.
He did say he wants his crypto coin to replace the Holy “In God we Trust”
US Dollar. What would Moodys say to, “In Donald Trump we Trust” liberation bitcoin. Trump wants Congress to allow US Federal Reserve to build a reserve of crypto coin, namely
… you guessed it.
Bitcoin is legal tender in only two Countries, Central African Republic and
El Salvador. I hope the Americans would vanish and save their own compatriots
from the Orange One.
Sevco will survive without them. I think Dave C King will sell his shares.
Are the new owners maybe just delayed? Maybe they’re coming over on a boat carrying Chinese steel bound for Govan. Those summer sailings seem to get delayed a lot. 🙂
The delayed steel from China required to ‘ upgrade ‘ part of Ibroxland last year , took less time to arrive and be installed than any alleged new shareholders in Govanlandia are taking ? A race to the bottom , tends to pan out like that !
“…there will have been a great deal of complexities along the way in pulling it all together…”
Bollox!
It’s straightforward share purchasing:
make an offer and it’s accepted or rejected.
The caveat is that this ‘consortium’ looks like it won’t commit a penny,
until it has sales agreements to achieve a 51%+ shareholding?
Additionally, sevco MUST be desperate to continue entertaining Cavenaugh and co.
They should have been given a deadline long before now to complete,
or be told to sling their hook: no more interaction with the RIFC Board.
The ‘consortium’ look like either geriatric amateurs, taking forever to close a ‘deal’,
or they are just taking the p!ss at ibrox:
getting free publicity, hospitality etc. without committing anything in return.
Now, when you Google Cavenaugh, he will have lots of hits, linked to Scottish/European football, and noted as a ‘serious investor’.
Cavenaugh can just walk away tomorrow, and he’s still won a watch
with his self-promotion – and which actually may lead him to much better deals elsewhere…?
Think you have nailed there, Bob. No money until they get the controlling interest and it makes sense since anything less would be just investing in a failing business driven by others.
I have said this before but why sell your shares when a takeover could see them skyrocket if they make a success of it and be worth a lot more.
Pishy wee diddy club.
They had the end of season and Christmas party in November to save money, no facepainters were harmed.
TheSevco 49ers will go down the swanny again, proper shithouse club of thieves and robbers
Mon the HOOPS
EYE-ARE-EY