A couple of hours after watching Celtic turning on the style to reach the Scottish Cup Finals another good news update was delivered to Ibrox fans.
Two months after the Daily Record broke the WORLD EXCLUSIVE over the takeover by the San Francisco 49ers it was the turn of The Sun and the Rangers Review to reveal that it was all sorted, done and dusted and scheduled to be announced at some time late in May.
There was barely a dissenting voice across the various Ibrox podcasts, websites and forums. It appears that almost 15 years after being introduced to Craig Whyte that every single one of them nod in agreement at everything that they are told.
Surely the timing of these good news stories is worth questioning.
The WORLD EXCLUSIVE came to light the day after Celtic drew 1-1 away to Bayern Munich, Sky Sports revealed that a deal for 51% was agreed in principal two days after Motherwell won at Ibrox.
Yesterday’s further update didn’t advance the non-story one step of the way from the Sky Sports story six weeks ago.
By some strange coincidence The Sun and the Rangers Review came up with their almost identical scoops at exactly the same time. Just when Celtic fans were making plans for Hampden and beyond on May 24.
The initial story didn’t add up other than appearing as another distress signal from Dave King trying to offload his worthless shares.
The South African based businessman owns 11.96% of the shares in the club, he has been frozen out of all decision making since March 2020 when he resigned as Chairman and demanded full repayment of his interest bearing loan.
Douglas Park stepped in and hasn’t forgotten, King was behind a failed bid to remove Graeme Park from the Ibrox Board of Directors at the 2021 AGM.
The comments above are absolute madness, it seems that Ibrox fans have an expectation that money is poured in four or five times a year and repaid in shares, an incredible business cycle.
Share issues should be for capital investment, not for keeping the lights on for every day running costs.
From Sunday’s update story it is clear that the ‘American consortium’ don’t have the agreement of the 51% of shareholders.
So with less than 51% of the shares they’ll be able to create new shares that only they can buy to take control?
Again, on no level is there any logic to that but it will tide fans over for the next week or so as the end of the season comes into sight.
The bottom line is always the bottom line, last season the club lost £17.2m, this season it is likely to be £25m or more.
No one is paying money to take that on board- with the potential for Park or John Bennett to demand repayment of the £22m of interest bearing loans that they have put in.
On Wednesday night CEO Paddy Stewart will host a Q and A, the April deadline is just over a week away, sketchy deadlines have been put in place throughout May but the only certainty is that when it all falls through the Gullible & Deluded will be moaning that nobody told them…
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Mate we’ve just watched yous get battered out your 5th and final competition this season, watched your little brothers get knocked out the cup by Aberdeen and watched the champions batter St Johnston on Easter Sunday, my weekend and the next 6 months will be brilliant for me 😂🍀
— Magic Maeda 🟢⚪ (@MaedaMagic) April 20, 2025
