Generic Sevco / Rangers meltdown thread

[erin go bragh]

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Ally Brazil on talk sport say there will be a big investment in Rangers tomorrow

Heard they are getting over 300m from some Chinese investors. Could be a lot of single fish but SG must have been guaranteed a fair whack of cash .

[Pescarese]

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How many share issues have they launched since 2012?

...and how does this fit in with King having to make an offer for the other shares?

It doesn’t fit well. King can’t seem to come up with the cash to underwrite the offer, and has been arguing that the shares are worth way more 20p. But the new issue dilutes whatever value the shares have.

[CropleyWasGod]

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Heard they are getting over 300m from some Chinese investors. Could be a lot of single fish but SG must have been guaranteed a fair whack of cash .

Does he know something King doesn't?

Here's the important quotes from DK today:-

King says the share issue will mean loans are converted to equity as well as bringing in fresh finance.

"There will be a balance between the conversion of loans versus raising of new cash," he explained.

"At this stage there is nothing external other than existing shareholders and investors. We are not talking to anyone new, who is not there already."

That says to me, approx £3m converted from loans, £3m cash.

[Keith_M]

Wee Arra' Peepul?

[andybev1]

starting to sound like a last desperate attempt at a challenge to celtic.....and us.

[tamig]

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Does he know something King doesn't?

Here's the important quotes from DK today:-

King says the share issue will mean loans are converted to equity as well as bringing in fresh finance.

"There will be a balance between the conversion of loans versus raising of new cash," he explained.

"At this stage there is nothing external other than existing shareholders and investors. We are not talking to anyone new, who is not there already."

That says to me, approx £3m converted from loans, £3m cash.

And why would Chinese investors waste 300m on the hun when for the same sum spent down the road they could get far more for their cash? Lunacy.

[PatHead]

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And why would Chinese investors waste 300m on the hun when for the same sum spent down the road they could get far more for their cash? Lunacy.

But remember some Chinese club offered £8-£/£10million for a poor The Rangers player

[JeMeSouviens]

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But remember some Chinese club offered £8-£/£10million for a poor The Rangers player

And if you believe that I’ve got a bridge you might be interested in?

[Kato]

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And why would Chinese investors waste 300m on the hun when for the same sum spent down the road they could get far more for their cash? Lunacy.

Make a sentence containing the following words: machine washing cash launder fritter fenian.

Not that I think it will happen.

[JeMeSouviens]

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You really know him that well do you?

Aye we’re old chums. Seriously though, what’s the point of an internet forum without malicious speculation?

He does seem ego driven though. The bit in his book about getting sent off after 38 seconds of a sub appearance at Old Trafford mostly because he was raging about Rogers benching him would tell you that.

And English pundits views on the SPFL are pretty obvious. To be fair, our football is not exactly premier league but Stevie will not have premier league players at his disposal.

[weecounty hibby]

I've just heard that they are after Fernando Torres. Out of contract apparently. I asked if that also meant he didn't want his usual 50 to 75k per week. Silence!!

[Ozyhibby]

BBC business and economics editor.


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[Ozyhibby]

Is it possible they need this £6m by the end of June to satisfy UEFA FFP rules? It seems to be getting rushed a bit, does it not? Usually these things are planned well in advance.


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[tamig]

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BBC business and economics editor.


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He’ll be on the hun hitlist now.

[Mr White]

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BBC business and economics editor.


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Looks like he'll be next up for the tanned in windows treatment then.

[ancient hibee]

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taken from them that know LOL Ibrox noise

nitial reaction from some fans has been disappointment, at the lack of apparent outside investment in concert with this sum.

But supporters keen to castigate based on this statement must remember three critical aspects:

1: We still have second place to secure. There is £2.5M up for grabs by way of finishing runners up. That added to the £6M suddenly makes it £8.5M.

2: Europa League qualifiers beckon based on that second (or at worst third) placed finish. That is a further roughly £250,000 per round, for three rounds. Assuming Rangers make the group stage that’s shy of a further million plus the £2.5M default credit for making it there. Suddenly it’s now £3.5M before the transfer window even closes.

3: This does not include player sales. Are some fans so naïve they actually expect the board to fork out multimillions or for new investment to buy us a pile of new players when we ALREADY have a tonne of dross on our books? How big do you want the squad to be?!

We spoke earlier on the site about the need to drastically thin the herd – but doing so will bring in millions. Alfredo Morelos off the bat will net around £5M, ditto all the other assets that Stevie Ger doesn’t want to retain. We are talking circa £20M for a dozen plus players we need to sell.

How bizarre and poor management would it be to sign six new players without bothering to cut away the chafe?

If we then add up the SPL cash (£2.5M, the share issue (£6M), the player sales (£15-20M), and the potential Europa League plunder (£3.5M) Rangers, over the course of the whole summer, could have around £30M to invest in new players.

It’s ifs and buts, yes, but how on earth can we just invest in new players without getting returns (and player vacancies) on our existing ones?

Some fans seem to want us to have a 40-player squad and a wage bill the height of Everest.

All football fans are fantasists but they seem to wallow in it a lot deeper than most of us.

[Tomsk]

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BBC business and economics editor.


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This share issue will raise the fat end of fart all. It's just a process designed to call actual debt something more palatable.

[hibees 7062]

[JeMeSouviens]

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Sadly, a fake.

[CropleyWasGod]

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Is it possible they need this £6m by the end of June to satisfy UEFA FFP rules? It seems to be getting rushed a bit, does it not? Usually these things are planned well in advance.


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Hud on a minute.

He can't get money to fund the offer to the minority shareholders, but he can get money to put into the club?

To answer your question, I think you're right about the rights issue being needed to satisfy the licensing process....BUT....I'm still not convinced they can do that yet. He seems to think otherwise, though.

[Ozyhibby]

Another well respected financial journalist and author of the book about what went wrong at RBS , so he should know dodgy dealings when he sees them.


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[Ozyhibby]

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Hud on a minute.

He can't get money to fund the offer to the minority shareholders, but he can get money to put into the club?

To answer your question, I think you're right about the rights issue being needed to satisfy the licensing process....BUT....I'm still not convinced they can do that yet. He seems to think otherwise, though.

And that last sentence. If you have to say it.......


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[blaikie]

Q&A with King in the Daily Record ......

Quite a volatile business model and banking solely on the future failure of Celtic!

[Deansy]

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taken from them that know LOL Ibrox noise

nitial reaction from some fans has been disappointment, at the lack of apparent outside investment in concert with this sum.

But supporters keen to castigate based on this statement must remember three critical aspects:

1: We still have second place to secure. There is £2.5M up for grabs by way of finishing runners up. That added to the £6M suddenly makes it £8.5M.

2: Europa League qualifiers beckon based on that second (or at worst third) placed finish. That is a further roughly £250,000 per round, for three rounds. Assuming Rangers make the group stage that’s shy of a further million plus the £2.5M default credit for making it there. Suddenly it’s now £3.5M before the transfer window even closes.

3: This does not include player sales. Are some fans so naïve they actually expect the board to fork out multimillions or for new investment to buy us a pile of new players when we ALREADY have a tonne of dross on our books? How big do you want the squad to be?!

We spoke earlier on the site about the need to drastically thin the herd – but doing so will bring in millions. Alfredo Morelos off the bat will net around £5M, ditto all the other assets that Stevie Ger doesn’t want to retain. We are talking circa £20M for a dozen plus players we need to sell.

How bizarre and poor management would it be to sign six new players without bothering to cut away the chafe?

If we then add up the SPL cash (£2.5M, the share issue (£6M), the player sales (£15-20M), and the potential Europa League plunder (£3.5M) Rangers, over the course of the whole summer, could have around £30M to invest in new players.

It’s ifs and buts, yes, but how on earth can we just invest in new players without getting returns (and player vacancies) on our existing ones?

Some fans seem to want us to have a 40-player squad and a wage bill the height of Everest.

Jambos will read this and realise they'll have to up their game as they're still light years behind their 'Bros' when it comes to slavering pish !

[Ozyhibby]

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Q&A with King in the Daily Record ......

Quite a volatile business model and banking solely on the future failure of Celtic!

Fascinating reading. If I was a sevconian I would be very worried.
https://www.dailyrecord.co.uk/sport/...mpression=true



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[Pedantic_Hibee]

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Fascinating reading. If I was a sevconian I would be very worried.
https://www.dailyrecord.co.uk/sport/...mpression=true



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Jesus. That was just made up nonsense. He's all over the place in this interview.

[Ozyhibby]

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Jesus. That was just made up nonsense. He's all over the place in this interview.

He reminds me of Donald Trump. He just says stuff without thinking it through properly or worrying that it doesn’t even look like the truth. It’s fascinating really.


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[green day]

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Fascinating reading. If I was a sevconian I would be very worried.
https://www.dailyrecord.co.uk/sport/...mpression=true
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Wow, thats a beauty !

My takeaways -

• He doesnt care about takeover panel sanctions, because he has no UK operations - so ya boo sucks to them
• The share issue will broaden the debt burden - to fans
• He is not looking for more Investors - in fact the fabled investors from last weeks leaks dont exist.
• They will continue to run a loss until and unless they get into the Champions League
• Steven Gerrard will have targets but there is no unlimited cash pot - basically King / Loans / Seasons funding it (again).
• His business plan, underpinning everything, is that "We only need to win one title, after that its a house of cards" - is basically like Petrie coming out post relegation and telling us "all we need to do is win The Scottish Cup".

Astonishing, truly astonishing interview from this guy - he sounds like a complete Walter Mitty.

Celtic must be pissing themselves reading that................

[CropleyWasGod]

A bit more clarity on the cash/loans question:-

How much can you raise from a new shares issue?

We’re going one-for-one on this specific issue. We’ll be looking at just over £16m. Right now it’s £6m cash and £10m in loans but we might go £8m and £8m. If the player plan goes the other way we might do it the other way around. We’ve not yet made our final decision but it won’t be less than £6m new cash.”

[greenginger]

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A bit more clarity on the cash/loans question:-

How much can you raise from a new shares issue?

We’re going one-for-one on this specific issue. We’ll be looking at just over £16m. Right now it’s £6m cash and £10m in loans but we might go £8m and £8m. If the player plan goes the other way we might do it the other way around. We’ve not yet made our final decision but it won’t be less than £6m new cash.”

And all this from internal funding ? is it still no new " investors " just the same suckers ?