Protected: SDRI v ‘Rangers’ Tuesday 10 July 2018

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Protected: UEFA Curtain Raisers

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More Thoughts on Kieran Tierney

In a previous blog I wrote:

One of my well-placed sources has informed me of discussions at Lennoxtown in regard to Everton’s interest in Kieran Tierney. He is of the view that should Everton step up with a significant bid the Plc might be minded to accept it.

I disagree. The game being played here is to solicit Tierney’s interest. To turn the boy’s head if you will. He could triple his salary and play in Liverpool’s shadow for a number of years. Liam Miller tried to make it at a bigger club. He took the £25,000 per week on offer ( more than triple Celtic’s final offer of £8,000) at Manchester United and could not break in to the first team. Within five years he was without a club. He was signed by Hibs, then played for a couple of clubs in Australia, Cork City and finally Wilmington in the U.S.

Miller felt unloved at Celtic and considered their offer desultory. It was. Tierney on the other hand is loved and under Rodgers’ tutelage could play for a much better club than Everton. He might even follow his gaffer to Rodgers’ next club.

As for the Mega Bid with prices of £25m being bandied  about I don’t believe any of it. £14m with add-ons would be closer to the mark. Celtic would naturally include a sell-on clause.

Unless a firm bid is on the table, this is an agent briefing the press.

I would be inordinately surprised if Tierney went anywhere. However he might get a better contract and an agent vying for his business.

 

In the first paragraph I referred to a source who knew that Tierney was on his way to Everton for £25m. As is evident I did not accept it. I apologise to my source. When a second source, a much valued member of the Sitonfence fraternity, stepped forward with precise details of Kieran Tierney’s representatives thrashing out a deal for £85,000 per week, and a fee of £25m being finalised, I realised that this transfer is good to go.

 

 

More Legal Capers at Ibrox

The Chairman who ‘has no fucks to give’ has found himself listed in yet another legal tussle which played out in The Chancery Division of the Royal Courts of Justice on Monday 2nd July.

B e f o r e :

MR. JUSTICE BRYAN
____________________

Between:

SDI RETAIL SERVICES LIMITED
Claimant
– and –
 
DAVID KING
PAUL MURRAY
THE RANGERS FOOTBALL LIMITED
RANGERS RETAIL LIMITED

Defendants

____________________

MR. SA’AD HUSSAIN QC and MR. JAMES PETKOVIC (instructed by Reynolds Porter Chamberlain LLP) appeared for the Claimant.
MR. WILLIAM McCORMICK QC (instructed by Kingsley Napley LLP) appeared for the Defendants.

____________________

HTML VERSION OF JUDGMENT
____________________

Crown Copyright ©

MR. JUSTICE BRYAN :

  1. The parties appear before this afternoon on the hearing of an application for an interim injunction by the claimant against the defendant. The claimant is SDI Retail Services Limited (“SDIR”), which provides retail and related business services as an indirect subsidiary of Sports Direct International Plc. The defendant is the Rangers Football Club Limited (“Rangers”), a company incorporated in Scotland which operates Rangers

 

 

 

To cut a long preamble short, SDI’s application for a temporary injunction was granted. The Hummel deal and a new shop that Mr Blair has purchased on behalf of his client/employer has been put on ice until a more substantive hearing on Tuesday 10 July.

How remiss of the beleaguered board not to have given the appropriate notice period information to Sports Direct. There will also be a fuller discussion on damages, currently capped at £1m, should the Hummel deal proceed.

It beggars belief that this company careers from one catastrophe to the next and no-one in the media are aware of it.

Is there anything this board can get right?

Close But No Cigar

I read the detailed communique from the Takeover Panel yesterday. It laid out in precise terms what they have been doing to enforce corporate law. It’s a particularly dry read which can be found at: http://www.takeoverpanel.org.uk

The key takeaway is a statement by the Panel that they would initiate contempt proceedings on the 27th April should they not receive a code compliant offer by midnight on the 26th. King naturally did not comply.

The glib and shameless one tried a number of ruses. He floated the idea of making an offer via his trust group Laird, claiming it was a dividend, knowing full well that any money raised would fall foul of SA exchange regulations. I have referred to this extensively in jj:passim. I can find no record of any dividend being paid nor any performance related indicator to warrant any dividend.

The Panel insisted that the funds be made available in the UK, sought a court order to reinforce their position, and recommended Investec to facilitate matters. King paid lip service to their suggestion but when Investec pulled out King suggested Danish Bank, Saxo, which has an office in London. The Panel knew that this was the latest in a series of ruses and kicked it into touch. The Panel then asserted:

Process in the contempt proceedings appears to have been served on Mr King on 8 June 2018.

Finally King, three days after apparently being served, tried to appeal the Panel’s decision not to grant him more time. This appeal was groundless and dismissed out of hand.

So much for the facts. What you won’t read on the consummate plagiarist’s site is any analysis. Maybe he does not have the time as he is promoting his latest work of fiction.

Has King been served? In such a detailed document where there is little wriggle room, they have left a window of opportunity wide open. An assumption won’t fly in court. If the Panel instructed solicitors in South Africa they would have received confirmation. So why is there any element of doubt?

If King has not been served then we return to a holding pattern until he ‘jets-in.’ Even then as he is a slippery chiseler without compare, he could probably evade Messengers At Arms at Ibrox.

I can envisage a scenario where Jimmy Bell smuggles him out in a kit basket.

As King is addicted to litigation and in his mind has been wronged, he might well try his luck in court. As I monitor the Court of Session lists every day, my readers will be the first to know.