Generic Sevco / Rangers meltdown thread

[pacorosssco]

Don't think this is very likely. Appeals accumulate costs and if this one fails which looks very likely as Lord Bannatyne deliberated for some time and produced a thorough exhaustive Judgement and If he runs an appeal that fails he will be very probably then be landed with the costs of the whole case that will be considerable.

If it is simply a case of seeking more time to comply his Counsel could seek more time from Lord Bannatyne at a hearing.

good to hear.

[jacomo]

Forgetting about all the off-field stuff for a minute, that's a honking result for them today.

If their very existence depends on European football, their biggest problem is surely the fact that their team may struggle to qualify for Europe, let alone qualify for any group stages.



The Q&A from their AGM said they were banking on qualifying for the CL group stage.

Mental.

[FilipinoHibs]

What about the conversion of the loans to shares? Are they able to do that?

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Only if the creditors are prepared to write off their loans.

[FilipinoHibs]

This is comedy gold.

As I speculated upon earlier this conman doesn't believe the rules apply to him. He has no chance of success and all it demonstrates is that he has zero intent to initiate the share offer no matter if the Supreme Court the highest court in the UK ordered him to.

If it turns out to be true that he intends to appeal the case of course.

Makes for terrific viewing for all of us though.

:greengrin

Thing to note is there is no trading in Rangers shares. On Friday they were nominally marked down 4%. They are bid at 32 but any sizeable trading would drive the price down significantly. 20 is the stop some might be willing to take given Rangers financial outlook.

[Tornadoes70]

Thing to note is there is no trading in Rangers shares. On Friday they were nominally marked down 4%. They are bid at 32 but any sizeable trading would drive the price down significantly. 20 is the stop some might be willing to take given Rangers financial outlook.

CWG would be best placed to give any feedback on the maths. I'm hopeless in this area save for toting up the odds on betting :greengrin.

However the overriding issue of maths in this case is overwhelmingly irrelevant as the maths are a concomitant feature following on from the action of acquiring the concert party 30%.

Lord Bannatyne has rightly in my opinion based his logic on the actions at the time of the concert party acquiring the 30% trigger. Any concomitant action thereafter is largely irrelevant.

:greengrin

[Hibernia&Alba]

My Christmas wish is for CWG to come on here and say the game is up for The Rangers; they've run out of options and it's the end - permanently. It would be worth the hangover.

[jacomo]

My Christmas wish is for CWG to come on here and say the game is up for The Rangers; they've run out of options and it's the end - permanently. It would be worth the hangover.


Also: Celtc found to have broken intellectual property laws going back over a century and ordered to pay Hibs £100m in compensation.

[Captain Trips]

Hopefully we start taking our chances against teams and push Sevco out to 4th so no European football for them. Whole we enjoy it.

[CropleyWasGod]

The Q&A from their AGM said they were banking on qualifying for the CL group stage.

Mental.They are banking on the Europa League groups, not the CL.

The question was about the gap between them and Celtic.

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[CropleyWasGod]

My Christmas wish is for CWG to come on here and say the game is up for The Rangers; they've run out of options and it's the end - permanently. It would be worth the hangover.And close this thread forever? No chance [emoji16]

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[CropleyWasGod]

Only if the creditors are prepared to write off their loans.Not sure what you mean. Converting the loans to shares effectively removes the loans.

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[hibees 7062]

https://scontent-lhr3-1.xx.fbcdn.net/v/t1.0-9/26229709_10159843663170224_3309342845214338339_n.j pg?oh=41f474a99908f2d0e7bf89ee9aff3306&oe=5ABA17FB

[Deansy]

https://scontent-lhr3-1.xx.fbcdn.net/v/t1.0-9/26229709_10159843663170224_3309342845214338339_n.j pg?oh=41f474a99908f2d0e7bf89ee9aff3306&oe=5ABA17FB


:not worth

[HoboHarry]

https://scontent-lhr3-1.xx.fbcdn.net/v/t1.0-9/26229709_10159843663170224_3309342845214338339_n.j pg?oh=41f474a99908f2d0e7bf89ee9aff3306&oe=5ABA17FB
Is that your own creation? Hats off to you if it is....... :top marks

[Jack Hackett]

https://scontent-lhr3-1.xx.fbcdn.net/v/t1.0-9/26229709_10159843663170224_3309342845214338339_n.j pg?oh=41f474a99908f2d0e7bf89ee9aff3306&oe=5ABA17FB

Statement worthy :greengrin

[Ozyhibby]

https://heavidor.wordpress.com/2018/01/02/the-elephant-in-the-room/


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[poolman]

https://heavidor.wordpress.com/2018/01/02/the-elephant-in-the-room/


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CWG...where are you :greengrin

[silverhibee]

CWG...where are you :greengrin

Be having his hot choccy and getting ready for bed, he is getting on now. :greengrin

[CropleyWasGod]

Be having his hot choccy and getting ready for bed, he is getting on now. :greengrinFRO.

I've just sniffed a line of Chuck, and am heading to the disco with a couple of broads.

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[Col2]

FRO.

I've just sniffed a line of Chuck, and am heading to the disco with a couple of broads.

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Disco? What is that then?😬🙄🤣🤣

[Hibby70]

with a couple of broads.


Somebody watched Bugsy Malone over Christmas then.

[Ronniekirk]

Disco? What is that then?[emoji51][emoji849]🤣🤣

The Dancing to 70s Music


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[jacomo]

https://heavidor.wordpress.com/2018/01/02/the-elephant-in-the-room/


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It does seem to be unchartered territory so it's hard to predict what comes next. 'Cold-shouldering' does seem a preposterously arcane punishment for breaking laws on corporate ownership.

[Brunswickbill]

It does seem to be unchartered territory so it's hard to predict what comes next. 'Cold-shouldering' does seem a preposterously arcane punishment for breaking laws on corporate ownership.

I seem to recall an earlier poster stating that if King doesn’t make the offer for shares he will be in contempt of court. Potential pokey?

[HIGHLANDLEITHER]

It does seem to be unchartered territory so it's hard to predict what comes next. 'Cold-shouldering' does seem a preposterously arcane punishment for breaking laws on corporate ownership.
King knew what he was doing and was warned by his fellow directors not to breach the 30% maximum holding.It appears he did the same thing in South Africa, one of his many crimes there.
Unlike the weak and incompetent SFA it is good to see the rules being applied. These rules are in place to protect ordinary shareholders from corrupt directors.

[CropleyWasGod]

Duties duly performed, now back to work.

I'm not usually a fan of David Low's, but I can't find much to argue with in this piece. It's long-winded, but effectively summarises where we are.

His second-last sentence could have been written by anyone, though. :greengrin

I believe Rangers need a new owner with a controlling shareholding and deep pockets to sort out this mess and I have reason to believe this view is shared by some of those with influence.

[Ozyhibby]

Duties duly performed, now back to work.

I'm not usually a fan of David Low's, but I can't find much to argue with in this piece. It's long-winded, but effectively summarises where we are.

His second-last sentence could have been written by anyone, though. :greengrin

I believe Rangers need a new owner with a controlling shareholding and deep pockets to sort out this mess and I have reason to believe this view is shared by some of those with influence.

I thought that a bit strange as well. Isn’t that what every club who doesn’t already have one is looking for?


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[CropleyWasGod]

I thought that a bit strange as well. Isn’t that what every club who doesn’t already have one is looking for?


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DL is, at times, the master of stating the bleedin' obvious with big fancy words :greengrin

[Jack]

Duties duly performed, now back to work.

I'm not usually a fan of David Low's, but I can't find much to argue with in this piece. It's long-winded, but effectively summarises where we are.

His second-last sentence could have been written by anyone, though. :greengrin

I believe Rangers need a new owner with a controlling shareholding and deep pockets to sort out this mess and I have reason to believe this view is shared by some of those with influence.

If recent rumours are to be believed then David Murray is in the wings.

To be fair I scoffed when I heard this.

[Deansy]

https://heavidor.wordpress.com/2018/01/02/the-elephant-in-the-room/


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'That would mean that King, as distinct from RIFC, had financial pariah status and not the club. That is the correct thing to do and should have already occurred but, instead, Rangers’ financial reputation has been dragged through the mud by association.'

Ha-ha-ha - 'by association' ?? - whether talking financial, business, footballing, ethical etc, etc - the Huns reputation was mud long before 'Glib & shameless' arrived !. We're talking 'Satan's 11' here, the 'Mother Of All Anti-Football Clubs' - King IS without doubt, a 'wrong un' but put his period in charge up against their entire history (both versions !) and he wouldn't even register !.

[Ozyhibby]

https://t.co/pBXtAd6aRS?amp=1
Just signed a 22 year old on loan who only has 6 senior games under his belt.


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[Captain Trips]

https://t.co/pBXtAd6aRS?amp=1
Just signed a 22 year old on loan who only has 6 senior games under his belt.


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When do you think he will be famous?

[CropleyWasGod]

When do you think he will be famous?

When they drop the boy.

[Brummie_Hibs]

When they drop the boy.
I feel I need to give you some recognition for that retort, but actually I owe you nothing.

[Ozyhibby]

https://t.co/95FQlXp9aa


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[Tornadoes70]

https://t.co/95FQlXp9aa


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Excellent read. Its remarkable how the First Tier and Upper Tier Tribunals both dismissed HMRC. The Courts of Law rightly identified the tax avoidance as depriving HMRC of employee remuneration taxation no matter who the employee wished the earnings be diverted to.

[HoboHarry]

One can but hope.......

https://philmacgiollabhain.ie/2018/01/03/a-hypothetical-administration-at-sevco/

[CropleyWasGod]

Excellent read. Its remarkable how the First Tier and Upper Tier Tribunals both dismissed HMRC. The Courts of Law rightly identified the tax avoidance as depriving HMRC of employee remuneration taxation no matter who the employee wished the earnings be diverted to.It's also heartening that HMRC are having considerable success in pursuing tax-avoidance schemes.

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[Tornadoes70]

It's also heartening that HMRC are having considerable success in pursuing tax-avoidance schemes.

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Excellent point CWG. Totally agree.

[surreyhibbie]

Still trying to work out the intergalactic trainspotters...:confused:

[HoboHarry]

Still trying to work out the intergalactic trainspotters...:confused:

I didn't get that part either.....

[ehf]

Still trying to work out the intergalactic trainspotters...:confused:

Begbies Traynor.

[Phil MaGlass]

Lets say they wait until the split to go into admin, then what?

[HoboHarry]

Begbies Traynor.
Still don't get it. What does Begbie have to do with it?

[ehf]

Still don't get it. What does Begbie have to do with it?

Frank Begbie is one of the principal characters in Trainspotting.

[HoboHarry]

Frank Begbie is one of the principal characters in Trainspotting.
OK I know that but what does that have to do with Sevco looking for an insolvency company? I assume you've read the piece by Phil Mac?

[Ozyhibby]

Traynor=Jabba=intergalactic
Begbie=trainspotting
Begbies Traynor are an accountancy firm.
Phil’s very annoying writing style at work again.


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[HoboHarry]

Traynor=Jabba=intergalactic
Begbie=trainspotting
Begbies Traynor are an accountancy firm.
Phil’s very annoying writing style at work again.


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Ah, I did not know that there was a company of that name. Presumably they don't advertise much.......:greengrin

[CropleyWasGod]

Lets say they wait until the split to go into admin, then what?15 point penalty.

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[CropleyWasGod]

Ah, I did not know that there was a company of that name. Presumably they don't advertise much.......:greengrinDidn't you ever watch 321 FFS?

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[HoboHarry]

Didn't you ever watch 321 FFS?

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Errrrrr, no. Don't know what that is either........

[CropleyWasGod]

Errrrrr, no. Don't know what that is either........Bloody youngster [emoji38]

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[jacomo]

If recent rumours are to be believed then David Murray is in the wings.

To be fair I scoffed when I heard this.


What a soap opera! The return of Moonbeams would be some plot twist.

[HoboHarry]

Bloody youngster [emoji38]

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Ok but I had to google it to remember about Dusty Bin, forgotten about that a long time ago :greengrin. What does that have to do with Begbie and Traynor though? I'm getting my a**e handed to me in this discussion.......

[Killiehibbie]

Ok but I had to google it to remember about Dusty Bin, forgotten about that a long time ago :greengrin. What does that have to do with Begbie and Traynor though? I'm getting my a**e handed to me in this discussion.......Riddles had to be solved.

[CropleyWasGod]

Ok but I had to google it to remember about Dusty Bin, forgotten about that a long time ago :greengrin. What does that have to do with Begbie and Traynor though? I'm getting my a**e handed to me in this discussion.......I was sympathising with you. [emoji16] Phil's clues were almost as impenetrable as Ted Rodgers'.

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[ancient hibee]

I was sympathising with you. [emoji16] Phil's clues were almost as impenetrable as Ted Rodgers'.

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Or Dusty Bin.

[JeMeSouviens]

Traynor=Jabba=intergalactic
Begbie=trainspotting
Begbies Traynor are an accountancy firm.
Phil’s very annoying writing style at work again.


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Very, very annoying. It's a pity google translate doesn't have a Phil->English option.

A Phil glossary would be handy, here's some in recent use, anyone else feel free to add any more:

Serious Professional - Stewart Robinson, Hun chief exec
High Level/Intergalactic - both refer to Jabba Traynor
Whatsapp moderator - Kenny Miller
Magnificently maned or imacculately coiffed factotum - Paul Murray, director of Huns old and new
South African based/South of the Limpopo - anything relating to Dave King
References to Mohammed,eg. Peace be upon Him - Chris Graham, Hun blogger, very briefly director
Director of Fantasy - Mark Allen, director of football
Holding company vehicle - RIFC plc
Engine room subsidiary - The Rangers FC ltd, aka Sevco
Basket of assets - Rangers/Sevco

[JeMeSouviens]

In other news, Andy Halliday (and his song) might be being brought in from the cold.

[Smartie]

Lloret de Mar, September 1995.

I was 17 and on my first lads holiday.

3 charming (?!?!?!) ladies from Rotherham were staying on the same floor of our hotel, in room 321.

They'd all practiced that 321 hand thing that Ted Rogers did.

Of course, we knew them as the Dusty Bints....

[Keith_M]

15 point penalty.

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Is this time to raise the spectre of whether it's the first or second time and the appropriate penalty amount? Or has that all been changes as well?

[Smartie]

Is this time to raise the spectre of whether it's the first or second time and the appropriate penalty amount? Or has that all been changes as well?

Throughout this whole saga I've hoped for a scenario where Sevco have to argue vehemently that they are a new club.

This may be that situation.

[HoboHarry]

Is this time to raise the spectre of whether it's the first or second time and the appropriate penalty amount? Or has that all been changes as well?
I think they are beyond the 5 year time frame and therefore it will be a 15 point penalty......

[CropleyWasGod]

I think they are beyond the 5 year time frame and therefore it will be a 15 point penalty......

It is indeed. That ship sailed about a year ago.

[CropleyWasGod]

Throughout this whole saga I've hoped for a scenario where Sevco have to argue vehemently that they are a new club.

This may be that situation.

That would never have been an issue, sadly. The rules are clear that the 25 point penalty would have applied, even where ownership of the club had changed.

However, it's not relevant any more.

[Smartie]

That would never have been an issue, sadly. The rules are clear that the 25 point penalty would have applied, even where ownership of the club had changed.

However, it's not relevant any more.

CWG = Sevco meltdown thread parade pisser.

[CropleyWasGod]

CWG = Sevco meltdown thread parade pisser.

Can we include that on the Awards list next year? I've had my acceptance speech written for about 6 years now.

[HoboHarry]

CWG = Sevco meltdown thread parade pisser.
CWG can be a miserable git when it comes to the Sevco circus but I on the other hand am a bundle of cheer and joy. Not very much different from what Phil Mac was reporting the day before but here is JJ's latest musings......

https://johnjamessite.com/

Probably optimistic enough of a report to set CWG off and have him go back down to the park to start kicking stray dogs and tramps for a while........ :greengrin

[CropleyWasGod]

CWG can be a miserable git when it comes to the Sevco circus but I on the other hand am a bundle of cheer and joy. Not very much different from what Phil Mac was reporting the day before but here is JJ's latest musings......

https://johnjamessite.com/

Probably optimistic enough of a report to set CWG off and have him go back down to the park to start kicking stray dogs and tramps for a while........ :greengrin

He's pissed me off with the use of the word "quanta" :greengrin

As you say, it's like he has cut and pasted Phil's piece, but without the Ted Rodgers impression.

He makes his usual howler. King doesn't, to my knowledge, have a security for his loan. Someone else can tell JJ that; he doesn't talk to me. :greengrin

[HoboHarry]

He's pissed me off with the use of the word "quanta" :greengrin

As you say, it's like he has cut and pasted Phil's piece, but without the Ted Rodgers impression.

He makes his usual howler. King doesn't, to my knowledge, have a security for his loan. Someone else can tell JJ that; he doesn't talk to me. :greengrin
He won't tell me mate - I am one of the lurkers who should be ashamed of myself for not sending him money....... :greengrin

[HoboHarry]

CWG (or anyone else for that matter) - why can't the rest of the board remove King from his position as Chairman? Is it based on the fear that he will call in any debts he is owed?

[CropleyWasGod]

CWG (or anyone else for that matter) - why can't the rest of the board remove King from his position as Chairman? Is it based on the fear that he will call in any debts he is owed?

There is that.

It's also possible that he still has sufficient support within the Board, and the wider shareholding, to enable him to hang on.

[Ozyhibby]

It’s possible that nobody can afford to offend anyone too much as they all have loans that they can call in at anytime and bring the whole thing crashing down.


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[jacomo]

He won't tell me mate - I am one of the lurkers who should be ashamed of myself for not sending him money....... :greengrin



Is JJ still hawking pirated copies of Craig White's biography?

[jacomo]

It’s possible that nobody can afford to offend anyone too much as they all have loans that they can call in at anytime and bring the whole thing crashing down.


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Reminds me of the old saying...

If I owe you £1,000, its my problem.
If I owe you £1m, its your problem.

[hibby6270]

According to the Currant Bun, betting has been suspended on Sevco finishing bottom of the league this season amidst more rumours of financial problems that could lead to another administration.
Odds cut from 5000/1 to 500/1 before suspension due to large bets being placed.

:rolleyes::rolleyes::confused:

[Stuart93]

Facing admin again? According to the s*n

[Joe6-2]

Oh no..........................................





😂😂😂

[GordonHFC]

Lets hope its terminal this time.

[3pm]

https://twitter.com/oddschecker/status/950425718441299968

[iwasthere1972]

That's a great shame if true.

You're no The Rangers anymore.

[macca70]

Betting on them being relegated has been suspended, that’s all the sun is reporting. They have went from 5000/1 to 500/1, which could be 1 person putting on a few hundred pound.

Usual Sun non-story

[CropleyWasGod]

According to the Currant Bun, betting has been suspended on Sevco finishing bottom of the league this season amidst more rumours of financial problems that could lead to another administration.
Odds cut from 5000/1 to 500/1 before suspension due to large bets being placed.

:rolleyes::rolleyes::confused:Bottom of the league? Not sure I get that.

Even with a 15 point penalty, they'd probably finish Top 6.

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[edinburghhibee]

Mate just text to say that Brighton have pulled the plug on the loan deal too.... anyone aware of anything going on? Or is it just rumours running wild?


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[Hibee87]

Hmmm very strange tbh. Oddschecker dumped from 5000/1 to 500/1 to suspended betting on them to finish bottom after some large bets placed apparently.

jabba will be spitting a statement out any minute now.

[HoboHarry]

Bottom of the league? Not sure I get that.

Even with a 15 point penalty, they'd probably finish Top 6.

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Would depend on which players stayed no? Surely the high earners would be gone?

[Borderlands]

http://www.dailymail.co.uk/sport/football/article-2899866/Rangers-run-risk-falling-administration-rejecting-Robert-Sarver-s-18million-bid-takeover-club.html

[SeanWilson]

In the words of Morrissey... please, please, please! 🙏

[stantonhibby]

Hmmm very strange tbh. Oddschecker dumped from 5000/1 to 500/1 to suspended betting on them to finish bottom after some large bets placed apparently.

jabba will be spitting a statement out any minute now.


Very strange.....even if they lose 15 pts they would only be a point off the top 6

[HoboHarry]

Jelly and ice cream, troosers at the ankles......ready steady go......................

:faf::faf::faf:

[bingo70]

Very strange.....even if they lose 15 pts they would only be a point off the top 6

Would this be classed as a second administration in recent years? If so it would be a 30 point deduction.

Interesting to hear if they’d still be wanting to be classed as the same club then.

[macca70]

Hmmm very strange tbh. Oddschecker dumped from 5000/1 to 500/1 to suspended betting on them to finish bottom after some large bets placed apparently.

jabba will be spitting a statement out any minute now.

No bookie would take a large bet on a market like that, especially at that price, you’d be lucky to get £50 on that market at that price

[Thecat23]

Facing admin again? According to the s*n

Again? This will be a first for The Rangers! 😁

[CropleyWasGod]

Jelly and ice cream, troosers at the ankles......ready steady go......................

:faf::faf::faf:You on the right thread? 🤣

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[HoboHarry]

Would this be classed as a second administration in recent years? If so it would be a 30 point deduction.

Interesting to hear if they’d still be wanting to be classed as the same club then.
No they are outwith the 5 year period. It would be 15 points.....

[CropleyWasGod]

Would this be classed as a second administration in recent years? If so it would be a 30 point deduction.

Interesting to hear if they’d still be wanting to be classed as the same club then.If it were within 5 years, it would have been 25 points. The 5 years expired last February, so it's 15.

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[HoboHarry]

You on the right thread? 🤣

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Just having fun at Sevco's expense. Genuinely hope this is true........

[CropleyWasGod]

Would depend on which players stayed no? Surely the high earners would be gone?Bottom of the league, though? They'd have to go some.

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[SHODAN]

Said it before and I'll say it again - administration should come with automatic relegation (and if you happen to be relegated "normally" that season, a double relegation). It's a quick and easy way of getting out of debt for a lot of cheating clubs.

[CropleyWasGod]

Just having fun at Sevco's expense. Genuinely hope this is true........Just dinny post a photo [emoji23]

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[HoboHarry]

Bottom of the league, though? They'd have to go some.

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Agreed but I am struggling to see them lasting in the top 6 minus their best (high earning) players.......

[lochhibs]

http://www.dailymail.co.uk/sport/football/article-2899866/Rangers-run-risk-falling-administration-rejecting-Robert-Sarver-s-18million-bid-takeover-club.html

Date 7/1/2015

[lochhibs]

No date or time on these tweets. It will be smeltic fans making pics up.

[jax67]

Betting on them being relegated has been suspended, that’s all the sun is reporting. They have went from 5000/1 to 500/1, which could be 1 person putting on a few hundred pound.

Usual Sun non-story

Dave King??

[Aim Here]

Very strange.....even if they lose 15 pts they would only be a point off the top 6

If they go into admin, they might have to sell all the players and draft in a youth team or something and just lose their way to the bottom. And of course, this is a high odds gamble - it could be that the punters reckon the chances of relegation are unlikely, but the odds are still substantially lower than the 5000-1 quoted price and so punt a few pennies they'll never miss on the offchance whatever rumours they heard turn out to be true.

It won't take a huge amount of money staked at that price to give bookies the heebie-jeebies

[Stuart93]

No date or time on these tweets. It will be smeltic fans making pics up.

Date on the oddschecker tweet is 8/1/2017 17:55

[HoboHarry]

Just dinny post a photo [emoji23]

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Widnae dare - Mrs Hobo would boot me up and doon the road..........

[Pretty Boy]

I'll confirm now if this happens I will most definitely 'tear the heid aff it'.

[Stonewall]

Lets hope its terminal this time.

Was terminal last time.

[monarch]

http://www.dailymail.co.uk/sport/football/article-2899866/Rangers-run-risk-falling-administration-rejecting-Robert-Sarver-s-18million-bid-takeover-club.html

Unfortunately the Daily Mail article is 3 years old.

[CropleyWasGod]

I'll confirm now if this happens I will most definitely 'tear the heid aff it'.You and Hobo need to get a room. [emoji16]

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[cabbageandribs1875]

Hmmm very strange tbh. Oddschecker dumped from 5000/1 to 500/1 to suspended betting on them to finish bottom after some large bets placed apparently.

jabba will be spitting a statement out any minute now.



it was probably jabba doing the betting



hope the vile bigots go the same way as the dinosaurs, seeing at they are close relations

[lochhibs]

Date on the oddschecker tweet is 8/1/2017 17:55

Seen it now. Done a bit more digging and the story seems to be true.

[Smartie]

HoboHarry, Pretty Boy and Daffy Duck have clubbed together to get a family size pack of kleenex and a tank of lube.

I for one hope you all get the happy ending you so much deserve.

[HoboHarry]

HoboHarry, Pretty Boy and Daffy Duck have clubbed together to get a family size pack of kleenex and a tank of lube.

I for one hope you all get the happy ending you so much deserve.
Don't get many at my age mate but this one might be cataclysmic....... :greengrin

[HIBERNIAN-0762]

In the words of Morrissey... please, please, please! 🙏

It was actually James Brown....:greengrin

[weecounty hibby]

Please please please please please please let it be so. Would be the least they deserve and what the rest of Scottish football wants. Except for Doncaster and Regan, total fuds that they are

[Keith_M]

Not gonna happen.

[Billy Whizz]

Date on the oddschecker tweet is 8/1/2017 17:55

2018 you mean

[Hillsidehibby]

It was actually James Brown....:greengrin

Sean is correct. Please Please Please, let me get what I want this time.... :agree:

[Stuart93]

2018 you mean

Your 2nd name isn't whizz for nothing...I'm living in the past

[GlesgaeHibby]

Not gonna happen.

Why? 21st January date looming, King doesn't have the money to make the required offer, cashflow clearly an issue as seen by Murphy transfer. It's a matter of when, not if IMO.

[Aldo]

I only just realise that Murphy signed on loan and not permanently as they wanted to pay Brighton in instalments. How the mighty have fallen.

O FWIW please be true about another admin!!


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[3pm]

I’ve still not answered the poll question. Need to consider that.

[CropleyWasGod]

I only just realise that Murphy signed on loan and not permanently as they wanted to pay Brighton in instalments. How the mighty have fallen.

O FWIW please be true about another admin!!


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The story I read said that BHA had lawyers on the case doing due diligence on RFC's likelihood to pay a fee. Hence the "deferral".

[HoboHarry]

The story I read said that BHA had lawyers on the case doing due diligence on RFC's likelihood to pay a fee. Hence the "deferral".
And you know they won't spread that on the grapevine down in Englandshire............... Heh heh heh..........

[Deansy]

http://www.dailymail.co.uk/sport/football/article-2899866/Rangers-run-risk-falling-administration-rejecting-Robert-Sarver-s-18million-bid-takeover-club.html


From Robert Sarvers Wikipedia-page -

'In October 2016, Robert Sarver was also ranked as the worst owner in the NBA by ESPN'

Wonder what is is about the Hun that consistently attracts the Creme-de-la-Creme of business-talent ??


On a separate issue - if they do go bust (:pray:) again, will their 'Petrofac-Cup' win be at risk ??

[tamig]

Bottom of the league? Not sure I get that.

Even with a 15 point penalty, they'd probably finish Top 6.

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Is the penalty not increased to 25 points in the event of another liquidation event in the space of so many years though?

[CropleyWasGod]

Is the penalty not increased to 25 points in the event of another liquidation event in the space of so many years though?

5 years. It's coming up for 6, sadly.

[tamig]

5 years. It's coming up for 6, sadly.

Aye. I should have read the subsequent replies. Strange one though.

[Aldo]

The story I read said that BHA had lawyers on the case doing due diligence on RFC's likelihood to pay a fee. Hence the "deferral".

Due diligence... [emoji23][emoji23] how the mighty have fallen and still a way to fall!

Not many clubs in Britain especially down south will want instalments of ten bob a week!


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[1van Sprou7e]

Not gonna happen.

this

[tamig]

From Robert Sarvers Wikipedia-page -

'In October 2016, Robert Sarver was also ranked as the worst owner in the NBA by ESPN'

Wonder what is is about the Hun that consistently attracts the Creme-de-la-Creme of business-talent ??


On a separate issue - if they do go bust (:pray:) again, will their 'Petrofac-Cup' win be at risk ??

It doesn’t matter what happens. They’ll still have these pathetic 5 stars above their badge. Guaranteed.

[Fiona Graham]

Please let this happen, don’t think I’d ever stop laughing 🤣

[Winston Ingram]

Ye’d think with Sevco’s fondness for a Statement, if there was nothing in this, they’d surely have released one by now🤫

[Bishop Hibee]

What a great start to the year it would be.

[blackpoolhibs]

We've had armageddon, perhaps this could be an apocalypse? :pray:

[Ozyhibby]

I only just realise that Murphy signed on loan and not permanently as they wanted to pay Brighton in instalments. How the mighty have fallen.

O FWIW please be true about another admin!!


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As good a sign of trouble as the old Rangers being outbid by us for Claros.


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[ancient hibee]

Why? 21st January date looming, King doesn't have the money to make the required offer, cashflow clearly an issue as seen by Murphy transfer. It's a matter of when, not if IMO.
If King doesn’t make the offer to buy shares it has no effect on Rangers.

[Kavinho]

If King doesn’t make the offer to buy shares it has no effect on Rangers.
R
it surely massively undermines anyone having any trust and confidence in dealing financially with the Rangers.
(I know I know)

[CropleyWasGod]

This would be their first admin though.

The rules are clear that, even if the owner of the club has changed, the increased penalty would apply.

So, had this been a year ago, they would have been looking at 25 points.

[Aldo]

As good a sign of trouble as the old Rangers being outbid by us for Claros.


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You are indeed correct Ozy!!


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[allezsauzee]

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8585099.stm

what are the chances of the SFA allowing this?

Who could they sell that is worth any decent money? They are pony

[Greencore]

can we get a gofundme started and we can all chip in to buy the name the the rangers fc so they can't name themselves rangers anymore after they go bust?

[JeMeSouviens]

can we get a gofundme started and we can all chip in to buy the name the the rangers fc so they can't name themselves rangers anymore after they go just?

It’s unlikely a cva would fail this time as the majority of the debt is held by the Sevco board themselves.

[Carheenlea]

They'll always have the glorious Petrofac Cup campaign of 15/16 to look back on.

[Ozyhibby]

It’s unlikely a cva would fail this time as the majority of the debt is held by the Sevco board themselves.

You still need someone to put up enough money to buy the assets and take on a business that loses about £600k a month.


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[Mr White]

It’s unlikely a cva would fail this time as the majority of the debt is held by the Sevco board themselves.

Unless they've been holding out on hector again?
:pray:

[lord bunberry]

Who could they sell that is worth any decent money? They are pony
I’m sure they turned down money for Windass, which makes me think they’re not struggling as much as is being suggested.

[Hibrandenburg]

You and Hobo need to get a room. [emoji16]

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:yawn2::hmmm:

[HoboHarry]

:yawn2::hmmm:
Whats wrong with your sense of humour - CWG is alright.......

[Hibs1972]

No bookie would take a large bet on a market like that, especially at that price, you’d be lucky to get £50 on that market at that price
Bookies these days you’d be lucky to get 50p on a 5000-1 chance!

[Hibrandenburg]

Whats wrong with your sense of humour - CWG is alright.......

Bit of a private joke mate. Would take too long to explain.

[greenginger]

All the speculation about admin. at the Big Hoose.

Could there be a connection to King's apparent refusal to make the offer to shareholders as instructed. I dare say a real " cold shouldering " by all companies governed by the FSA would make trading almost impossible.

When's the deadline for the offer ?

[Colr]

can we get a gofundme started and we can all chip in to buy the name the the rangers fc so they can't name themselves rangers anymore after they go bust?

Can’t see them doing a cake sale!!

[WoreTheGreen]

Can’t see them doing a cake sale!!

Hot cross huns

[Keyser Sauzee]

Really can’t see these rumours being true, no way they will go into admin again

[HoboHarry]

Really can’t see these rumours being true, no way they will go into admin again
Because?????

[greenlex]

Hot cross huns

German Biscuits

[Keyser Sauzee]

Because?????

Just don’t think they will, sorry

[Bostonhibby]

They'll always have the glorious Petrofac Cup campaign of 15/16 to look back on.Did they ever launch a commemorative video for this one?

The team that died but came back as another team and won the cup that no one has ever heard of or wanted to win.

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[WoreTheGreen]

German Biscuits

Battle of the bun £16.90 it gets 5 stars

[brog]

I’m sure they turned down money for Windass, which makes me think they’re not struggling as much as is being suggested.

So says Traynor. They're desperately trying to offload Pena etc but no one's going to pay Sevco 20k a week for him or the other wasters. They don't want to sell Morelos, Windass or Candeias but 1st decent offer & they're off. It's also significant they didn't try to hijack the Walker deal. A year ago they were openly talking about signing Walker for far more than his current transfer fee. Of course the fact that every Scottish club now wants transfer money up front from Sevco may also play a part!!

[jacomo]

They admitted in their accounts that they need to make the Europa League group stages next season to break even.

They probably assumed they'd finish no lower than 2nd this season but it's not been plain sailing so far. They've got a rookie as gaffer.

The owners have huge egos but how long can they continue to pump in cash?

[Ozyhibby]

Sevco are running on fumes. They are desperately trying to reduce the wage bill any way they can, they have their u20 manager in charge and their largest shareholder has two weeks to pony up £11m to find a share offer. Right now I can’t see them avoiding administration.


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[Haymaker]

Sevco are running on fumes. They are desperately trying to reduce the wage bill any way they can, they have their u20 manager in charge and their largest shareholder has two weeks to pony up £11m to find a share offer. Right now I can’t see them avoiding administration.


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:hyper here we go again

[Ryan69]

Amazing how not even a mention of this on BBC,or the Daily Rangers(They are too busy talking about the Huns buying Russell,)


Id love them to go bankrupt again...as learnt absolutely nothing from the last clubs death.

[Jack]

Amazing how not even a mention of this on BBC,or the Daily Rangers(They are too busy talking about the Huns buying Russell,)


Id love them to go bankrupt again...as learnt absolutely nothing from the last clubs death.

It seemed no-one learned any lessons.

If they go as far as liquidation again I'd expect the authorities to make the same mistakes or even worse!

[hibsforeurope]

Amazing how not even a mention of this on BBC,or the Daily Rangers(They are too busy talking about the Huns buying Russell,)


Id love them to go bankrupt again...as learnt absolutely nothing from the last clubs death.

I'm Sure they were about to buy Grant Holt from Norwich for £1m plus days before they went belly up the last time. Maybe a bit of symmetry here...

I so hope this is true, absolutely brilliant if they go under again!

[Brightside]

Is this really all based on a tweet from oddschecker?

[Ryan69]

It seemed no-one learned any lessons.

If they go as far as liquidation again I'd expect the authorities to make the same mistakes or even worse!

Problem is that the game is so corrupt here.

And has been for decades.

I still cant understand how with the money they have used to get to SPL and the position they are in....They gain a license from UEFA to play in Europe!

Inregard to Financial Fair Play rules.

[Ronniekirk]

So says Traynor. They're desperately trying to offload Pena etc but no one's going to pay Sevco 20k a week for him or the other wasters. They don't want to sell Morelos, Windass or Candeias but 1st decent offer & they're off. It's also significant they didn't try to hijack the Walker deal. A year ago they were openly talking about signing Walker for far more than his current transfer fee. Of course the fact that every Scottish club now wants transfer money up front from Sevco may also play a part!!

Pena is away on loan to Mexico and the club he has signed for are paying his full wages
They didn't appoint new Manager ,but have recently brought in an assistant They are still bringing players in
While their clearly are ongoing cash flow issues ,they always seem to find a way through these despite all the predictions of their demise
Unless Civil War breaks out in their Boardroom ,they will reluctantly work their way through this and at some point King will exit left, and someone else will take them forward to challenge Celtic But thats another few years down the line
The calibre of signings may not be enough to progress in Europe next Season and will wait till Transfer Window closes as then we will have a clearer indication of how difficult things are
Europe isKey King ,knows that and a Rookie Manager is unlikely to get them through the Qualifying rounds
King has hinted that the Summer will see the Main overhaul of the Squad ,and i assume a new Manager
But its a big ask to see them to well in Europe
If they go out the Scottish Cup early ,and find themselves slipping down the League ,to fourth ,the pressure will be on them


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[Ozyhibby]

Is this really all based on a tweet from oddschecker?

Yes and no. Yes it’s fuelled speculation but we also know from their accounts that they need a significant amount of money this month (and £7m over next 18 months) from NOAL to keep the lights on. It appears that money has not arrived yet and the takeover panel has just ordered NOAL to fund a share offer to the tune of £11m. Until it’s confirmed that NOAL or one of the other directors has come up with this money then there will be speculation.


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[Betty Boop]

It's all wishful thinking.

[Jim44]

Pena is away on loan to Mexico and the club he has signed for are paying his full wages
They didn't appoint new Manager ,but have recently brought in an assistant They are still bringing players in
While their clearly are ongoing cash flow issues ,they always seem to find a way through these despite all the predictions of their demise
Unless Civil War breaks out in their Boardroom ,they will reluctantly work their way through this and at some point King will exit left, and someone else will take them forward to challenge Celtic But thats another few years down the line
The calibre of signings may not be enough to progress in Europe next Season and will wait till Transfer Window closes as then we will have a clearer indication of how difficult things are
Europe isKey King ,knows that and a Rookie Manager is unlikely to get them through the Qualifying rounds
King has hinted that the Summer will see the Main overhaul of the Squad ,and i assume a new Manager
But its a big ask to see them to well in Europe
If they go out the Scottish Cup early ,and find themselves slipping down the League ,to fourth ,the pressure will be on them


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Cruz Azul ...... and new manager, Pedro Caixinha.

[Ronniekirk]

Cruz Azul ...... and new manager, Pedro Caixinha.

Yea knew it wasPedro No one else would have taken him in all likely hood


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[brog]

Pena is away on loan to Mexico and the club he has signed for are paying his full wages
They didn't appoint new Manager ,but have recently brought in an assistant They are still bringing players in
While their clearly are ongoing cash flow issues ,they always seem to find a way through these despite all the predictions of their demise
Unless Civil War breaks out in their Boardroom ,they will reluctantly work their way through this and at some point King will exit left, and someone else will take them forward to challenge Celtic But thats another few years down the line
The calibre of signings may not be enough to progress in Europe next Season and will wait till Transfer Window closes as then we will have a clearer indication of how difficult things are
Europe isKey King ,knows that and a Rookie Manager is unlikely to get them through the Qualifying rounds
King has hinted that the Summer will see the Main overhaul of the Squad ,and i assume a new Manager
But its a big ask to see them to well in Europe
If they go out the Scottish Cup early ,and find themselves slipping down the League ,to fourth ,the pressure will be on them


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I very much doubt if Pena's wages are being paid in full. Last I heard the offer from Mexico was 50%. It helps The Rangers but still leaves them paying approx, £500k a year to Pena, by coincidence, the amount they offered to pay for Jamie Murphy in June. This where Der Hun has come unstuck. They can rely on their friends in Scotland not to rock the boat but their dealings with Brighton have made them a laughing stock in England. That word has spread quickly & I suspect that's what's really driving the current admin talk. Whether that will happen I have no idea but there's no doubt they're in serious financial trouble.

[Ozyhibby]

It's all wishful thinking.

I remember all the same chat through 2011. Let’s hope it’s wrong again.


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[Moulin Yarns]

Pena is away on loan to Mexico and the club he has signed for are paying his full wages
They didn't appoint new Manager ,but have recently brought in an assistant They are still bringing players in
While their clearly are ongoing cash flow issues ,they always seem to find a way through these despite all the predictions of their demise
Unless Civil War breaks out in their Boardroom ,they will reluctantly work their way through this and at some point King will exit left, and someone else will take them forward to challenge Celtic But thats another few years down the line
The calibre of signings may not be enough to progress in Europe next Season and will wait till Transfer Window closes as then we will have a clearer indication of how difficult things are
Europe isKey King ,knows that and a Rookie Manager is unlikely to get them through the Qualifying rounds
King has hinted that the Summer will see the Main overhaul of the Squad ,and i assume a new Manager
But its a big ask to see them to well in Europe
If they go out the Scottish Cup early ,and find themselves slipping down the League ,to fourth ,the pressure will be on them


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I hear there was a picture of Pena walking across a car park blowing his nose with a pair of The Rangers shorts (either that or he was sniffing them)

How to respect the club that you are still employed by.

[Winston Ingram]

The tweet from Oddschecker was 16 hours ago.

Still no denial from Sevco.

This is a club that managed to release a statement, minutes after the pitch invasion at Hampden.

[ancient hibee]

Yes and no. Yes it’s fuelled speculation but we also know from their accounts that they need a significant amount of money this month (and £7m over next 18 months) from NOAL to keep the lights on. It appears that money has not arrived yet and the takeover panel has just ordered NOAL to fund a share offer to the tune of £11m. Until it’s confirmed that NOAL or one of the other directors has come up with this money then there will be speculation.


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Can’t see that the failure to make the share offer makes any difference.If King doesn’t do it I suspect there is no way of forcing him and nobody else least of all the club is in any way liable.

[Spike Mandela]

The tweet from Oddschecker was 16 hours ago.

Still no denial from Sevco.

This is a club that managed to release a statement, minutes after the pitch invasion at Hampden.

......and every hour since at statement O’clock..😎

[Killiehibbie]

The tweet from Oddschecker was 16 hours ago.

Still no denial from Sevco.

This is a club that managed to release a statement, minutes after the pitch invasion at Hampden.Bets were placed on them finishing bottom or being relegated. 5000/1 was cut to 500/1 then suspended, must've been a slow news day. Even if they get a 15 points deduction and lose players they'd probably finish higher than 11th, if they got liquidated and newco admitted to bottom division bookies keep money.

[JeMeSouviens]

I remember all the same chat through 2011. Let’s hope it’s wrong again.


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We know they have very little cash. They couldn't fund McInnes' compo, they have taken Murphy on loan because they couldn't stump up an initial instalment. The accounts said they needed £Ms more in directors' loans and that this time they would come from King/NOAL but since then King/NOAL are on the hook to fund a share offer. So I guess it depends on the other directors, are the 3 bears etc willing to put in yet more cash? They might just decide that King has been more trouble than he's worth and they can clear the decks and carry on without him?

[Ozyhibby]

Can’t see that the failure to make the share offer makes any difference.If King doesn’t do it I suspect there is no way of forcing him and nobody else least of all the club is in any way liable.

The problem is the club need money and if King is cold shouldered then they can’t have the share issue they say they need to provide working capital.
The 3 bears appear to be tapped out and King could soon be barred from dealing with any FCA regulated company.
It costs about £2.5m a month to run Sevco and season tickets sales are at least 3 months away.


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[Brunswickbill]

Can’t see that the failure to make the share offer makes any difference.If King doesn’t do it I suspect there is no way of forcing him and nobody else least of all the club is in any way liable.
It’s no longer just a matter of cold shouldering, King will be in contempt of court. Could be fined, but he’s already said he’s got no money, or it could be jail time.

[Ozyhibby]

https://philmacgiollabhain.ie/2018/01/09/betting-on-sevco/


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[CropleyWasGod]

It’s no longer just a matter of cold shouldering, King will be in contempt of court. Could be fined, but he’s already said he’s got no money, or it could be jail time.Or it could be appointing a Trustee or the likes to force him to pay. Part of the issue here is that the TP haven't been here too often, and there's little precedent.



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[Ozyhibby]

Or it could be appointing a Trustee or the likes to force him to pay. Part of the issue here is that the TP haven't been here too often, and there's little precedent.



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The two previous cases that I could find they went straight to cold shoulder without asking a court to enforce the order. Not sure why they have went a different route here. Also in the other two cases they penalised all the members of the concert party. Again, they have gone a different route here.


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[HoboHarry]

Latest piece from Phil Mac

https://philmacgiollabhain.ie/2018/01/09/the-insolvency-event-ducks-are-now-in-a-row-at-sevco/

[CropleyWasGod]

Latest piece from Phil Mac

https://philmacgiollabhain.ie/2018/01/09/the-insolvency-event-ducks-are-now-in-a-row-at-sevco/One wonders how big the "pro King faction" is.

Is it sufficient to block a CVA? [emoji848]

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[HoboHarry]

Pena back in Mexico wiping his nose with a pair of Sevco shorts :faf:

20007

[Ozyhibby]

One wonders how big the "pro King faction" is.

Is it sufficient to block a CVA? [emoji848]

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In other words, if NOAL doesn’t come up with the cash, this is the only option.


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[Spike Mandela]

Anybody see the BBC Scotland investigates program last night about the unscrupulous millionaire bankrupts?

Absolutely enforces the notion that administration is just an absolute scam for those unscrupulous types to ditch their debt whilst hiding their assets. The insolvency practitioners are so under resourced they rely almost entirely on these debtors being honest with the receivers.

An administration at Rangers will be choreographed perfectly to ditch their high earners, give a small p in the pound payment to their creditors, give a hefty wedge to the insolvency practitioners of choice and save all their assets in a nice little bundle and off they go again with a new chancer at the helm

The murky swamp of high finance, bankruptcy and football clubs is corrupt as ****.

[Ronniekirk]

Pena back in Mexico wiping his nose with a pair of Sevco shorts :faf:

20007

I smell S---


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[JeMeSouviens]

For those of us not paying sufficient attention - is the debt mostly in RIFC plc or Sevco Ltd itself? Which entity is actually likely to go into admin? And if it's RIFC plc, will they actually try and save it or just sell Sevco ltd on to another holding co?

[Famous Fiver]

Do you mean they owe it to themselves?

Now, where have I heard that before?........................................... .........................

[Ozyhibby]

It’s not the debt that’s the problem it’s cash flow. They have run out of cash and need to borrow more. They could have zero existing debt and still go into admin if the money runs out.


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[snooky]

I smell S---


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Is that your comment on the photo or a caption for it? :dunno: :wink:

[Skol]

Problem is that the game is so corrupt here.

And has been for decades.

I still cant understand how with the money they have used to get to SPL and the position they are in....They gain a license from UEFA to play in Europe!

Inregard to Financial Fair Play rules.

The game is not corrupt. A fair sprinkling of incompetents yes, but not corrupt

[Stuart93]

The game is not corrupt. A fair sprinkling of incompetents yes, but not corrupt

Na I think it's totally corrupt in favour of the so called establishment clubs

[Skol]

Na I think it's totally corrupt in favour of the so called establishment clubs

What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning

What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.

Yes they get the better of decisions, but its not corruption

[lapsedhibee]

What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning
:faint:

[HoboHarry]

What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning

What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.

Yes they get the better of decisions, but its not corruption
It absolutely is corruption when the SFA can call the registrations of the those with side letters "imperfect but eligible". That was a decision taken in the light of day and I can't personally think of any other occasion in sport when cheating of that magnitude has been allowed to go unpunished. Rotten to the core.

[Ozyhibby]

What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning

What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.

Yes they get the better of decisions, but its not corruption

It was indeed corruption when Cadette’s registration was deliberately delayed (botched [emoji23]) and Celtic has to go to court over it and it cost the head of the SFA his job.


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[Ozyhibby]

https://m.soundcloud.com/hibstalk/fanreps1
Here’s Frank and Tracey explaining why they wanted to move on.


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[MrSmith]

What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning

What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.

Yes they get the better of decisions, but its not corruption

Sorry mate but I never wanted to see them back! Complete farce and corruption akin to an Machiavellian plot! My only regret is that, our club allowed the corruption to persist.

[Ozyhibby]

The game is not corrupt. A fair sprinkling of incompetents yes, but not corrupt

Deliberately concealing a dual contract system for ten years from the SFA is not corruption? Falsifying statements in order to achieve a uefa licence is not corruption?


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[Skol]

Deliberately concealing a dual contract system for ten years from the SFA is not corruption? Falsifying statements in order to achieve a uefa licence is not corruption?


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Cheating by Rangers, but not signs of corruption by the SFA

[Skol]

It was indeed corruption when Cadette’s registration was deliberately delayed (botched [emoji23]) and Celtic has to go to court over it and it cost the head of the SFA his job.


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The claim was corruption against the big 2.

[Ozyhibby]

Cheating by Rangers, but not signs of corruption by the SFA

Once they found out about it the SFA turned a blind eye to it. They have never ruled on it at all. That’s corruption.


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[HoboHarry]

Cheating by Rangers, but not signs of corruption by the SFA
Of course there was - Sandy Bryson's "imperfect but eligible" was ok? Seriously?

[Stonewall]

Cheating by Rangers, but not signs of corruption by the SFA

1. Rigging an enquiry (Nimmo-Smith)
2. Granting a UEFA licence to Rangers in 2012.
3. Granting a UEFA licence to Rangers in 2017.

[Jack]

The game is not corrupt. A fair sprinkling of incompetents yes, but not corrupt

While there is no openness or transparency in the way they make their decisions there will always be a shadow of doubt cast over this sleazy wee cabal.

[jacomo]

Deliberately concealing a dual contract system for ten years from the SFA is not corruption? Falsifying statements in order to achieve a uefa licence is not corruption?


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Nah, that's cheating.

Sweeping it under the carpet and giving Rangers / the Rangers preferential treatment to every other club is corruption.

[Ronniekirk]

Is that your comment on the photo or a caption for it? :dunno: :wink:

Its Reeking of it [emoji849]


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[JeMeSouviens]

1. Rigging an enquiry (Nimmo-Smith)
2. Granting a UEFA licence to Rangers in 2012.
3. Granting a UEFA licence to Rangers in 2017.

It's a much longer list than that. Add in ...

4. A transfer embargo that only applies between transfer windows. :rolleyes:
5. Trying to shoehorn New Rangers into the premier.
6. Trying to shoehorn New Rangers into the first division while threatening lower league clubs with armageddon.
7. Signing up to a secret 5 way agreement with Old and New Rangers.
8. Pretending New Rangers are Old Rangers.
9. Allowing competition winners to stand even though the winners have been found guilty of improper registration.
10. Allowing a convicted tax evader to be considered "fit and proper".

I'm sure there are many, many more examples. :rolleyes:

[lapsedhibee]

It's a much longer list than that. Add in ...

4. A transfer embargo that only applies between transfer windows. :rolleyes:
5. Trying to shoehorn New Rangers into the premier.
6. Trying to shoehorn New Rangers into the first division while threatening lower league clubs with armageddon.
7. Signing up to a secret 5 way agreement with Old and New Rangers.
8. Pretending New Rangers are Old Rangers.
9. Allowing competition winners to stand even though the winners have been found guilty of improper registration.
10. Allowing a convicted tax evader to be considered "fit and proper".

I'm sure there are many, many more examples. :rolleyes:

The only good thing Potter has done in his life so far:
https://www.youtube.com/watch?v=rlFpHriMd8A

[brog]

The only good thing Potter has done in his life so far:
https://www.youtube.com/watch?v=rlFpHriMd8A

I'd forgotten about that, absolutely disgraceful.

[Stonewall]

It's a much longer list than that. Add in ...

4. A transfer embargo that only applies between transfer windows. :rolleyes:
5. Trying to shoehorn New Rangers into the premier.
6. Trying to shoehorn New Rangers into the first division while threatening lower league clubs with armageddon.
7. Signing up to a secret 5 way agreement with Old and New Rangers.
8. Pretending New Rangers are Old Rangers.
9. Allowing competition winners to stand even though the winners have been found guilty of improper registration.
10. Allowing a convicted tax evader to be considered "fit and proper".

I'm sure there are many, many more examples. :rolleyes:

I know, I just couldn't be bothered trawling my brain for other examples for a poster who I thought was either on the wind up or wasn't going to listen to the answers anyway.

[Deansy]

The Hun 'won' titles/cups with players they couldn't afford - Guilty.
The SFA KNEW this and yet, to date, have refused to even looking at stripping/voiding these tainted-titles - Guilty.


Lots of other things as well but be in no doubt - CORRUPTION - not only exists in our game but it thrives and prospers !. Until there's a complete and thorough purge of the SFA, nothing will change !

[kaimendhibs]

Dave King deemed fit and proper, if thats not corrupt what is?

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[Baader]

The burying of Jorge Cadete's paperwork in order to ensue he missed the old firm game is the absolute epitome of corruption. Farry lied about it then had to resign. Should have been prosecuted. If that's not corruption in action then what is?

[Ozyhibby]

https://philmacgiollabhain.ie/2018/01/11/a-short-history-of-insolvency-planning-at-sevco/


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[HoboHarry]

https://philmacgiollabhain.ie/2018/01/11/a-short-history-of-insolvency-planning-at-sevco/


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That "OPM of the masses" line is brilliant. Very clever....... :faf:

[hibs#1]

https://philmacgiollabhain.ie/2018/01/11/a-short-history-of-insolvency-planning-at-sevco/


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Seen this guys columns a few times now don't know much about him,also far from being a financial wizard,he makes a valid point about a business relaying on loans very 6/12 months isn't a good way to go,eventually someone will want/need their money back or they will run out of people to ask. I can only see it going one way which is admin again,I can't wait 😊

[CropleyWasGod]

https://philmacgiollabhain.ie/2018/01/11/a-short-history-of-insolvency-planning-at-sevco/


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The thing that doesn't ring true with me is the bit about RFC trying to get "invoice financing". Businesses like theirs are generally cash-based, whereas those who use IF are credit-based.

Unless, of course, they're trying to get an advance on ST sales. Now, that would be a good plan..... :greengrin

[grunt]

The thing that doesn't ring true with me is the bit about RFC trying to get "invoice financing". Businesses like theirs are generally cash-based, whereas those who use IF are credit-based.

Unless, of course, they're trying to get an advance on ST sales. Now, that would be a good plan..... :greengrinI think in one of his earlier pieces he indicated it was up front financing based on anticipated additional player fees when players exceeded a set number of games they'd played. But now that I've typed it out, it sounds daft.

Found it https://philmacgiollabhain.ie/2017/12/10/invoice-financing-for-sevco/

[Ozyhibby]

The thing that doesn't ring true with me is the bit about RFC trying to get "invoice financing". Businesses like theirs are generally cash-based, whereas those who use IF are credit-based.

Unless, of course, they're trying to get an advance on ST sales. Now, that would be a good plan..... :greengrin

Apparently they were looking for people to advance them money until the future payments came in for Garner, Waghorn etc. As these payments are not guaranteed though as they are based on appearances, goals etc they were told to bolt.
All allegedly.


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[Ozyhibby]

I think in one of his earlier pieces he indicated it was up front financing based on anticipated additional player fees when players exceeded a set number of games they'd played. But now that I've typed it out, it sounds daft.

It sounds daft because it was which is why they were given nowt.


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[CropleyWasGod]

I think in one of his earlier pieces he indicated it was up front financing based on anticipated additional player fees when players exceeded a set number of games they'd played. But now that I've typed it out, it sounds daft.

Found it https://philmacgiollabhain.ie/2017/12/10/invoice-financing-for-sevco/


Apparently they were looking for people to advance them money until the future payments came in for Garner, Waghorn etc. As these payments are not guaranteed though as they are based on appearances, goals etc they were told to bolt.
All allegedly.


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Cheers, that makes sense. Well, as much sense as it would to a drowning man....

[Ozyhibby]

Cheers, that makes sense. Well, as much sense as it would to a drowning man....

While your here[emoji3], if they do go into admin, would the 3 bears, NOAL etc count as connected creditors and therefore be excluded from any CVA vote?


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[CropleyWasGod]

While your here[emoji3], if they do go into admin, would the 3 bears, NOAL etc count as connected creditors and therefore be excluded from any CVA vote?


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I think they should be, however.... see also the Hearts situation, where BJ saw fit to allow the bank to have a vote in the CVA.

I know what you're thinking... :wink:... if they are excluded, step forward Mr Hector. Again.

[Aim Here]

The thing that doesn't ring true with me is the bit about RFC trying to get "invoice financing". Businesses like theirs are generally cash-based, whereas those who use IF are credit-based.

Unless, of course, they're trying to get an advance on ST sales. Now, that would be a good plan..... :greengrin

That's what the plan was under the Craig Whyte regime - use credit secured against future ST revenue to keep the team afloat until HMRC ruled in their favour. If they didn't, no loss to Whyte, it was gambling with the creditor's money...

Anyways, borrowing against future ST sales is a standard way of financing sports clubs and is usually a pretty safe bet for the lenders - but clearly Rangers don't have that avenue open right now, otherwise they'd have used it to buy Murphy outright this window, rather than borrowing the player until the actual money comes in (because there's no way Brighton would have lent a player they're trying to offload without adding on a premium, meaning Rangers are losing money by doing things this way).

[Ozyhibby]

I think they should be, however.... see also the Hearts situation, where BJ saw fit to allow the bank to have a vote in the CVA.

I know what you're thinking... :wink:... if they are excluded, step forward Mr Hector. Again.

Also it would make it harder for them to control the admin.


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[Famous Fiver]

What I am looking forward to is the internal blood letting.

They owe the money to themselves and each other!!

Canny wait for the fall out. Blood and guts everywhere!!!

[JimBHibees]

What is the evidence of corruption ?

Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning

What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.

Yes they get the better of decisions, but its not corruption

Farry deliberately delayed the registration so he couldnt play in a cup tie v Rangers. Was the allowed to resign and signed a non disclosure agreement so he didnt have to divulge the truth, typical Scottish football brushing under the carpet.

[Jack]

Also it would make it harder for them to control the admin.


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So the alleged shopping around for a cheap Administration company, and letting the cat out the bag, could all be in vein?

[HoboHarry]

So the alleged shopping around for a cheap Administration company, and letting the cat out the bag, could all be in vein?
If it isn't vein it could be a bloodbath.......

[Tornadoes70]

https://www.scotcourts.gov.uk/current-business/court-rolls/court-roll?id=db3e46a7-8980-69d2-b500-ff0000d74aa7

King must have lodged an appeal as a motion from his Counsel is being opposed tomorrow in the Inner House.

He's not known as the Glib and Shameless for nothing.

[Ozyhibby]

Dave King been given leave to appeal. Will be heard on 28 Feb. Two days set aside. Motion for Early disposal by ToP brief appears to have been granted.



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[Tornadoes70]

I'm going to try to attend the appeal hearing if possible. Only the Glib and Shameless could pretend he was impecunious among other things. This is case history in the making and is comedy gold. Can't wait.

:greengrin

[Smartie]

I'm going to try to attend the appeal hearing if possible. Only the Glib and Shameless could pretend he was impecunious among other things. This is case history in the making and is comedy gold. Can't wait.

:greengrin

How do you go about doing that, and where is it likely to be?

I must admit that throughout the whole Sevco saga, I've quite fancied going along to view proceedings at some stage.

It's a bit like live theatre, involving characters with whom we are all familiar.

I'm not from a legal background so wouldn't be 100% up on everything but apart from anything else I think it would be quite cool to see how a court operates.

[Tornadoes70]

How do you go about doing that, and where is it likely to be?

I must admit that throughout the whole Sevco saga, I've quite fancied going along to view proceedings at some stage.

It's a bit like live theatre, involving characters with whom we are all familiar.

I'm not from a legal background so wouldn't be 100% up on everything but apart from anything else I think it would be quite cool to see how a court operates.

It'll be heard in the Inner House court settings contained within the Court of Session 1 Parliament Square next to St Giles. Go through the reception/search area and enter the big main corridor, turn into the second left corridor if I remember rightly and you'll see the notice boards listing the courts business day. If the case has not been allocated as yet ask back at the reception desk and they'll keep you informed.

Whichever court has been allocated won't usually open its doors until just before 10 am however the cafe downstairs is open from an hour or so beforehand.

Hearings are normally open to the public unless an in camera has been sought which would be unlikely in this case.

Its certain to be very interesting indeed mate.

:aok:

[JeMeSouviens]

Its within the Inner House court settings in the Court of Session 1 Parliament Square next to St Giles. Go to the reception area and through the search area and the pages with the courts day of business is normally pinned up on the notice board just down the big corridor.

The court it's being heard in won't open its doors until just before 10 am usually but the cafe downstairs is open from an hour or so beforehand.

If its not been allocated yet ask at the reception desk and they'll keep you informed. Hearings are normally open to the public unless an in camera has been sought which would be unlikely in this case.

Its certain to be very interesting indeed mate.

:aok:

Will they let you in with a Hibs scarf on? :greengrin

[Tornadoes70]

Will they let you in with a Hibs scarf on? :greengrin

Certainly worth a try.

:greengrin

[ehf]

Dave King been given leave to appeal. Will be heard on 28 Feb. Two days set aside. Motion for Early disposal by ToP brief appears to have been granted.



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Is this right? Can't see it reported anywhere.

[Ozyhibby]

Is this right? Can't see it reported anywhere.

There is report from court on the sfm website.


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[Ozyhibby]

https://uploads.tapatalk-cdn.com/20180113/eb2c3b05d0fd9fa5635db1fc70967aa7.jpg
Screenshot from the Daily Records ‘all is well at Ibrox, def no admin worries here’ report.
CWG, why would they set up an escrow account for a new manager?


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[sleeping giant]

Will they let you in with a Hibs scarf on? :greengrin

:faf: