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Another Ibrox Giggle...


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For those of us who are still unable to crack a smile after Thursday's debacle .... this should help.... I almost peed ma pants!!!

 

https://www.ibroxnoise.co.uk/2019/07/rangers-130m-asset-management.html?m=1

 

Rangers £130M asset management....


If there’s one thing we’re saturated by on Ibrox Noise, it’s the obsessed coming in telling us how terrible our team is and how we’re no match for them. Oh, and we’re dead. All that piffle.

Funny thing is over the past three weeks, the amount of nonsense from those of a green and white persuasion has notably reduced, and we couldn’t imagine why (!)

Is it the ‘goals for’ column which has looked slightly absurd in its proliferation of stats? Or is it the fact the goals against one still remains completely empty?

Or could it be the focal point of today’s piece of exquisite Ibrox Noise optimism, and the increasing ‘asset management’ issue Rangers now have?

If we go back 12 months, the only ‘asset’ Rangers really had was Alfredo Morelos and, at a pinch, James Tavernier. We didn’t have many players worth much at all.

July 2019 that has changed to unrecognisable levels.

Rangers are now packed with experienced internationals, with winners, and with players of rising international stock and coveted names. 

Let’s go through one-by-one at the players who are starting to look like Rangers’ crown jewels of genuine financial value:

James Tavernier:

The reality is this guy, signed for £250K in 2015, was without any doubt Mark Warburton’s finest hour. He has grown into a genuine £15M+ player. Ok, he has no Champions League or international experience to his credit, but he’s delivered frightening stats both domestically and in Europe, and even the majority of green and white fans have put him at RB in an ‘ultimate OF XI’. He’s worth a lot of cash now.

 

Borna Barisic:

Yes, this one is more theoretical right now because Barisic has only delivered on the international stage for sure, and while his Rangers career is certainly improving he has a bit to go before he proves the Croatia Barisic is in the light blue for certain. BUT. If the Croatia man does consistently deliver for his club then we’re talking top dollar value for a genuinely world class player. It’s not absurd to suggest a value above £20M for a Croat international if a Scotland one with barely-working limbs is worth more than £25M.

Glen Kamara:

Yes, he needs to weed those lazy errors out of his game, but he’s otherwise the complete midfielder and the £65K for him is looking absurd. A Fin international with 13+ caps and experience of the highest order at only 23, Kamara’s value is almost stratospheric with colossal potential. He learned his trade at one of England’s finest academies in Arsenal, and could only last a short spell at Dundee before a big club came for him. There is little doubt Glen Kamara, if he continues to develop like this, could be worth mammoth money in the future. We’re talking that same £20M value for sure. Maybe more.

Joe Aribo:

Just 22, nearly 23, Aribo was spun to us as a £10M player for barely £250K. After his first couple of outings in our shirt we weren’t convinced. After the last two, £10M would be a bargain for someone. An Aribo in first gear, half asleep, completely destroyed two sides in a row over the course of barely 30 minutes. Imagine what this kid can do in fifth gear in the serious business. The mind boggles and we can barely even guesstimate on this one, but definitely the £20M region again.

 

Scott Arfield:

A coveted player down south with at least four or five excellent years left in him, he’s been an inspirational signing and while his age counts a little against him, his experience is vital and Southampton at least have been credited with interest. He had a stunning split, a stunning season overall (a genuine disgrace he was overlooked for POTY nominations) and he produced again in America for the Gold Cup. His assist last night as a rusty sub for Defoe’s hat trick just summed him up. If anyone wanted him they’d have to dig deep for his services. £10M-£15M.

Jordan Jones:

An NI international hitting his peak and assisting for fun? His stats at Killie were excellent and his performances for the Ulster Boys proved he could do it on a higher stage than the SPL. He’s got to prove it of course over the course of the season but early signs are good for the winger. More dangerous than Ryan Kent who’s supposed to be worth £12M, Jones has potential to reach £15M and beyond.

Alfredo Morelos:

Yes, this is a tricky one. His value goes up and down with his attitude, displays, and the wind really. At peak this Colombian international with a tonne of UEL experience at only 23 could be worth well over £20M, bordering into £30M. But when he goes testy or quiet or gets himself sent off he’s down to £5M tops. He requires a club to take a bit of a risk on him, but then what signing isn’t? 

So, potential numbers: 

Tav: £15M
Barisic: £20M
Kamara: £20M
Aribo: £20M
Arfield: £15M
Jones: £15M
Morelos: £25M

A grand theoretical total of £130M.

Of course, that’s crazy numbers – we’re not going to sell this lot for that money and suddenly have £130M. Nothing like it. It’s just an illustration, individually, that Rangers now have valuable assets and there’s no point pretending that we could only get £1.5M for a James Tavernier or similar. If Rangers are to sell any prize players, we’ll expect big money for them. That’s the way the market is now.


Now, an interesting recent comparison example is that of England’s Kieran Trippier. Astonishingly he only left Spurs to Atletico for a strangely modest £20M. An England international with bags of UCL experience. But why? Because his domestic campaign last term post-world cup was littered with errors and poor form, not to mention injury. His value would have been a comfortable £40M+ aside that, and he only managed 27 PL appearances, with a meagre 3 assists. This is why Borna Barisic’s value wasn’t great after last season – he’d been poor for Rangers, even if he’d been excellent for Croatia. And that hurt him. Now, theoretically, he could be in the same ballpark as Trippier. Although it doesn’t quite account for why Celtic’s Tierney, himself off the back of an injury-disrupted last campaign, is worth around £10M more than an England international, but hey, we don’t pretend we know all the rules here (!)

Have we missed any? And do you agree/disagree with any?

 

 

 

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Rangers court blow as Mike Ashley's Sports Direct due 'millions in damages'

The Ibrox club and the controversial Sports Direct tycoon have been in dispute over retail strip sales after Rangers did a kit deal with another company.

Rangers could be forced to pay Sports Direct (SDIR) millions of pounds in their long-running High Court fight over merchandise rights.

A detailed legal judgement found Mike Ashley’s firm should have been allowed to match an offer made by current kit manufacturer Elite/Hummell for the lucrative deal on producing replica strips and other items.

Judge Lionel Persey QC concluded bosses at Rangers had made the new agreement without giving Sports Direct, which had a retail deal with the Ibrox club that was expiring, a chance to match the other firm's offer.

Sports Direct argued that the terms of the existing contract meant Rangers had to give SDIR the opportunity to compete with any new agreement.

The judge also took issue with Rangers’ bid to limit any damages they may have to pay to £1million, which could have huge financial implications for the Ibrox club.

Last year it was reported Rangers had penned a three-year deal with Hummell worth £10million - showing the retail value of the Glasgow giants.

Ashley's Sports Direct firm had a deal with a previous Rangers board that saw it take 93 pence for every £1 of club merchandising sold in Sports Direct stores.

The punitive contract resulted in Rangers fans boycotting Sports Direct stores. The two parties became locked in a series of disputes with a High Court judge last year urging them to "make peace".

But they ended up back in court and yesterday Judge Persey announced that he had ruled In favour of SDIR despite Rangers disputing the claim made against them.

The judge’s full ruling was published yesterday and revealed the Ibrox club could be hit with a massive bill for SDIR’s lost revenue.

He found that the “terms of the connected commercial arrangement offered to Elite/Hummell” should have been offered to Sports Direct.

The judge declared: “I am satisfied that SDIR would have matched those arrangements had it been given the opportunity to do so.”

Rangers' bid to limit any potential damages to only a £1m payout if the ruling went against them was also dismissed by Judge Persey.

He wrote: "SDIR’s losses are likely to be in the order of many millions of pounds.

"Rangers has pleaded that it will rely upon the Non-Exclusive Rights Agreement to limit its damages to £1,000,000. I accept SDIR’s submission that it would be unjust to deprive SDIR of the benefit of its matching right provisions."

This looks certain to open the way for Sports Direct to seek a higher amount in damages than the maximum sum stipulated in the contract although the company could settle for £1m and the termination of the Elite/Hummell deal that would put Ashley back in charge of Rangers' retail operation.

The judge also said Rangers' company secretary James Blair “untruthfully” told Sports Direct that Elite/Hummel had not been granted the retail rights and that he also failed to provide Sports Direct with a copy of the Elite/Hummel Agreement. 

Sports Direct were therefore effectively frozen out from the retail sales it could have had for the 2018/2019 as well as the 2019/20 seasons and the judge decided that they are entitled to damages.

The ruling reads: “I am satisfied that SDIR was not only entitled to match the rights offered to Hummel/Elite but would have done so.

"Those rights were not only not offered to them but Rangers, through Mr Blair, untruthfully asserted that Hummel had not been granted any Offered Rights and did not provide SDIR with a copy of the Elite/Hummel Agreement."

Judge Persey concluded Rangers were in breach of their agreement by entering into a deal with Elite/Hummell and not offering SDIR the chance to match the offer.

He declared Sport Direct were entitled to damages but a decision on the amount will be made at a later date.

Rangers have been contacted for comment.

 

https://www.dailyrecord.co.uk/news/scottish-news/rangers-court-blow-mike-ashleys-18667096

 

 

 

 

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Record then went on to slaughter Ashley of course: 

 

Ashley is a controversial businessman who in 2016 admitted that he paid workers below the minimum wage as he was grilled by MPs on the Commons select business committee.

Union officials had blasted "Victorian" working conditions at the company's facility in Shirebrook in Derbyshire as being like a "gulag" and as a "workhouse, not a warehouse."

Unite The Union regional officer Luke Primarolo described a "culture of fear" within the warehouse.

He said: "People are scared because they are working in a system where they know they could lose their employment at any moment."

And Steve Turner, Assistant General Secretary of Unite said: "Pregnant women are coming to work ill and get called ambulances - or give birth in the toilets."

In a payment system Mr Turner said he had "never seen before", workers are given their wages on a pre-paid debit card.

The cards are subject to a £10 charge for use, and a 75p charge for using ATM machines.

Ashley, whose company also makes extensive use of zero-hours contracts, gave evidence to the committee, after initially refusing to appear before MPs.

Asked if he is prepared to engage with unions, Ashley said: "I believe Sports Direct can do a better job for the people of Sports Direct than Unite."

 

 

Dave King is obviously not a controversial businessman in anyway whatsoever. Not at all. 

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