Generic Sevco / Rangers meltdown thread

[Del Boy]

Kind of lost track about what's happening at that vile club, but I'm assuming that this is good news tonight? ( well for non Sevco fans anyway!)

[Ronniekirk]

I was listening to the Clyde 1 phone in tonight, and the presenters were speculating that if they didn't sell someone like Lee Wallace in January, they may run out of money before the end of the season.
How fun that would be
Lots but it's wishfully thinking and not going to happen They know that next season they can put up ticket prices as fans will want to. Be a season ticket holder so they get priority the following season when they will all want to crawl back out the woodwork with we are the people and no one likes us we don't care I really cannae be bothered with all that . Haven't missed it one jot

[Spike Mandela]

Kind of lost track about what's happening at that vile club, but I'm assuming that this is good news tonight? ( well for non Sevco fans anyway!)

Who knows? Bsaically the Sevco fans are stuck with the current board now whether they like it or not.

[Ronniekirk]

Who knows? Bsaically the Sevco fans are stuck with the current board now whether they like it or not.
Until the next attempted takeover The in fighting will continue as they all want to position themselves for a piece of the money when they get back into top flight .Greed and power never underestimate what it does to people Let's hope it tears them apart

[Jonny1875]

Apparently their wage bill is the highest in Scotland besides Celtic, anyone know if it's true?

[Northernhibee]

Apparently their wage bill is the highest in Scotland besides Celtic, anyone know if it's true?
I'd say that's a near certainty if Fat Sally is on what he's reported.

[Thecat23]

Apparently their wage bill is the highest in Scotland besides Celtic, anyone know if it's true?

Defo true. From what folk have been saying behind the scenes they are still in a bit of bother and could well find themselves back in admin.

[Bill Milne]

Assuming the current board are safe, it raises serious questions about the immediate future of Sally McCoist. He has, it seems, nailed his colours to the cause of the Requisitioners, presumably in the belief that they would come out on top in the AGM battle. What price he is emptied for his self-seeking treachery ASAP?

[CropleyWasGod]

Assuming the current board are safe, it raises serious questions about the immediate future of Sally McCoist. He has, it seems, nailed his colours to the cause of the Requisitioners, presumably in the belief that they would come out on top in the AGM battle. What price he is emptied for his self-seeking treachery ASAP?

It's a bit more complicated than that. He allowed a Supporter's Club to be his proxy at the AGM, I believe as part of a promise to his Dad. That SC will vote against the Board.

Apparently, the Board know of this, and understand his reasons. Whether it will affect their attitude to him is still to be seen.

[Bill Milne]

Yes, I was aware he had given a proxy to a supportes branch but, given the slippery way in which McCoist goes about his business, I feel this is his way of backing the Requisitioners without doing so in a direct manner. Still raises doubts over his future IMHO.

[s.a.m]

Dave Galloway ‏@davegalloway83 2m (https://twitter.com/davegalloway83/status/413241214545457152) "@SkySportsAmy (https://twitter.com/SkySportsAmy): BREAKING: Former Rangers owner Craig Whyte has lost his appeal against ticket firm Ticketus and must pay £18m damages

[Ozyhibby]

Dave Galloway ‏@davegalloway83 2m (https://twitter.com/davegalloway83/status/413241214545457152) "@SkySportsAmy (https://twitter.com/SkySportsAmy): BREAKING: Former Rangers owner Craig Whyte has lost his appeal against ticket firm Ticketus and must pay £18m damages

He might have to sell Blue Pitch Holdings now. ;-)

[greenginger]

He might have to sell Blue Pitch Holdings now. ;-)


With shares selling at 34 pence the total capitisation of the Club is only £ 22 million. The castle will have to go too ! :greengrin

[Billy Whizz]

With shares selling at 34 pence the total capitisation of the Club is only £ 22 million. The castle will have to go too ! :greengrin

What Castle? You mean the Big Blue Hoose

[greenginger]

What Castle? You mean the Big Blue Hoose


Naw, this one .......

http://www.dailyrecord.co.uk/news/scottish-news/ex-rangers-chief-craig-whyte-faces-1855997

[JeMeSouviens]

With shares selling at 34 pence the total capitisation of the Club is only £ 22 million. The castle will have to go too ! :greengrin

Company, GG, company!! :rolleyes::wink:

[Spike Mandela]

Dave Galloway ‏@davegalloway83 2m (https://twitter.com/davegalloway83/status/413241214545457152) "@SkySportsAmy (https://twitter.com/SkySportsAmy): BREAKING: Former Rangers owner Craig Whyte has lost his appeal against ticket firm Ticketus and must pay £18m damages

Money he used to pay off Oldco's Lloyds debt but yet again the Sevco/Rangers Zombie club gets away with it.:rolleyes:

[Spike Mandela]

Live updates from AGM...........comedy gold.

http://news.stv.tv/west-central/257443-rangers-boardroom-battle-comes-to-a-head-at-annual-general-meeting/

[cabbageandribs1875]

:hahaha: The club reported a £14m operating loss for the 13 months to June after around £22m was raised in a share issue late last year. :clapper:

[cabbageandribs1875]

http://www.bbc.co.uk/sport/0/football/25423601


The current Rangers board has won enough support to remain in place, BBC Scotland has learned.


is this good/funny :greengrin

[Callum_62]

So without the share issue, they wouldve made a loss of 36 Million in 13 months?

:cb

[CropleyWasGod]

So without the share issue, they wouldve made a loss of 36 Million in 13 months?

:cb

No. The loss would have been the same. The share issue doesn't count as trading income.

[PatHead]

No. The loss would have been the same. The share issue doesn't count as trading income.

They just wouldn't have had it to lose in the first place. :na na:

[Billy Whizz]

They just wouldn't have had it to lose in the first place. :na na:

Or they couldn't have signed players like Daly, Bell etc, if they didn't have the cash

[jacomo]

Live updates from AGM...........comedy gold.

http://news.stv.tv/west-central/257443-rangers-boardroom-battle-comes-to-a-head-at-annual-general-meeting/

So many questions from that link?

Was the AGM outside? Why the pot plants etc to make it look like it was inside?

Did the requisitioners hold their own press conference afterwards?

[JeMeSouviens]

94% wages to turnover. To win Div3. :crazy::faf:

Meet the New Huns, same as the Old Huns ...

[green glory]

94% wages to turnover. To win Div3. :crazy::faf: Meet the New Huns, same as the Old Huns ...

And hopefully they're heading the same way.

[JeMeSouviens]

Board election results not even close, even Brian Stockbridge managed 65%. Yet another humiliation for Paul Murray who could only muster 31%. He's more like Monty Python's Black Knight than a Blue Knight, "Just a flesh wound!". :greengrin

[SurferRosa]

Sally can relax now because his cowardly way out of avoiding having to vote because he proxied his shares to some supporters club means his job is safe. His hero status among the braindead is still assured. They`re too thick to see the scam he`s pulled.

He wasn`t forced to pick a side meaning he can continue to draw his 800 000 grand a year.......until he and SevCo reach an agreement on his wage cut of course..:coffee:

[Treadstone]

Murray reminds me of Brian Dempsey, fans favourite until its time to pony up. Both trying to get a seat on the board by popularity rather than hard cash. McCann called Dempseys' bluff. Murray ripped to shreds by Spiers on Sportsound last night, oh the shame.

[JeMeSouviens]

Murray reminds me of Brian Dempsey, fans favourite until its time to pony up. Both trying to get a seat on the board by popularity rather than hard cash. McCann called Dempseys' bluff. Murray ripped to shreds by Spiers on Sportsound last night, oh the shame.

Seriously? That's "savaged by a dead sheep" territory.

[Sylar]

All current board re-elected but not one of the requisitioners voted on to the board. Surprised at that - Rangers fans are screaming corruption and most wanted the current board out.

Chat of boycotts, no more income etc - they'll be in admin again before the end of the season at this rate.

[Keith_M]

Still no news on who are behind Blue Pitch and Margarita.

No update on Fat Sally's alleged pay cut (when and by how much).

Some fans talking about a boycott. Sounds good to me

[Argylehibby]

So many questions from that link?

Was the AGM outside? Why the pot plants etc to make it look like it was inside?

Did the requisitioners hold their own press conference afterwards?

Used to be held on a temporary stage erected above the tunnel and the "shareholders" sat in the main stand. Looks very much like they did the same this year.

[green glory]

There was some chatter last night on Twitter etc that Sevco are preparing for admin.

@pmacgiollabhian: Hearing Admin could be on the way at Ibrox. By the way, I have a book out. #BuyIt

The second part about the book is a sarcastic reply to someone.

Various sources saying a couple of newspapers getting the legals sorted before printing the story.

Baited breath if true.

[Saorsa]

There was some chatter last night on Twitter etc that Sevco are preparing for admin.

@pmacgiollabhian: Hearing Admin could be on the way at Ibrox. By the way, I have a book out. #BuyIt

The second part about the book is a sarcastic reply to someone.

Various sources saying a couple of newspapers getting the legals sorted before printing the story.

Baited breath if true.:pray: http://i41.tinypic.com/157m3co.gif

http://i41.tinypic.com/2vrwpi8.gifhttp://i41.tinypic.com/2vrwpi8.gifhttp://i41.tinypic.com/2vrwpi8.gifhttp://i41.tinypic.com/2vrwpi8.gifhttp://i41.tinypic.com/2vrwpi8.gif

[semaj64]

There was some chatter last night on Twitter etc that Sevco are preparing for admin.

@pmacgiollabhian: Hearing Admin could be on the way at Ibrox. By the way, I have a book out. #BuyIt

The second part about the book is a sarcastic reply to someone.

Various sources saying a couple of newspapers getting the legals sorted before printing the story.

Baited breath if true.

Would not surprise anyone as they have spent vast amount to get out of lower divisions. The question is how authorities allow this to happen again. It makes a mockery of rules and regulations oh wait they are the new firm so rules do not apply and Scottish football I dead without them

[green glory]

@moo_gaby: Interesting txt received this morning after I put out a couple of calls re the furore about Sevco last night. Sevco were in touch with >

@moo_gaby: > SFA & SPFL on Friday asking their view on sanctions were they to go into administration! This has come from a very good source.

Nothing confirmed yet, but I'm on my hands and knees praying like my life depends on it. :-D

[greenginger]

@moo_gaby: Interesting txt received this morning after I put out a couple of calls re the furore about Sevco last night. Sevco were in touch with >

@moo_gaby: > SFA & SPFL on Friday asking their view on sanctions were they to go into administration! This has come from a very good source.

Nothing confirmed yet, but I'm on my hands and knees praying like my life depends on it. :-D


Is it the same 15 point penalty or more for a second offense ?

It would let them dump a lot of contracts Green and Co signed them up to and ditch a few redundant players and managers who are overpaid.

[cabbageandribs1875]

sally McCoist will keep the GFA right on what they can and can't do

[Onion]

@moo_gaby: Interesting txt received this morning after I put out a couple of calls re the furore about Sevco last night. Sevco were in touch with >

@moo_gaby: > SFA & SPFL on Friday asking their view on sanctions were they to go into administration! This has come from a very good source.

Nothing confirmed yet, but I'm on my hands and knees praying like my life depends on it. :-D

Yams will have a keen interest in this, just in case it hits Sevco's promo to Div 1. Or maybe Billy Brown will petition the SFA to say New Huns have been punished enough :greengrin

[The_Todd]

Is it the same 15 point penalty or more for a second offense ?

It would let them dump a lot of contracts Green and Co signed them up to and ditch a few redundant players and managers who are overpaid.

It's 25 points for a second offence within 5 years I think, but the first a administration happened before the SPFL came into being so another insolvency event might be counted as the first one under the new rules. Maybe that's why The Ranjurs would need to ask the SPFL for advice on the matter, assuming the rumour is true.

[green glory]

Is it the same 15 point penalty or more for a second offense ? It would let them dump a lot of contracts Green and Co signed them up to and ditch a few redundant players and managers who are overpaid.

Not sure about the penalty this time, but as they are haemorrhaging cash at an unsustainable rate, with the ridiculous amount they're paying their 'stars' the prime reason for this. They need to find a way to cancel their contracts.

[rossevenil]

I sense a position where Rangers get far enough ahead of the Pars that they take the Admin 15 point deduction and still cruise up into the "Championship" ??

[Hibee87]

If true it would only be the first offence as they are a new club.

[StevieC]

There was some chatter last night on Twitter etc that Sevco are preparing for admin.

What would be the purpose for administration (ie who would they be looking to bump)?

Could it possibly be leading to another liquidation? Is liquidation possibly viewed as a way to a means to losing all links to Green/Whyte (with court actions and counter claims bubbling away in the background)?

[The_Todd]

If true it would only be the first offence as they are a new club.

Good chance to test The Rainjurs then.

"Are you still Rangers?"
"Yes"
"Right, there's a 25 point deduction"
"Erm we meant no"

[StevieC]

If true it would only be the first offence as they are a new club.

They are not a new club in the eyes of the SFA though, as they allowed them to keep their footballing history .. which must surely include the administration event along with their titles.
The only thing they were not allowed to keep was their SPL share, which is history for everyone as there is no longer an SPL.

[matty_f]

I sense a position where Rangers get far enough ahead of the Pars that they take the Admin 15 point deduction and still cruise up into the "Championship" ??

Looks very likely that'd they'd still cruise it even with a huge points deduction.

[green glory]

Good chance to test The Rainjurs then. "Are you still Rangers?" "Yes" "Right, there's a 25 point deduction" "Erm we meant no"

This.

[Hibee87]

They are not a new club in the eyes of the SFA though, as they allowed them to keep their footballing history .. which must surely include the administration event along with their titles.
The only thing they were not allowed to keep was their SPL share, which is history for everyone as there is no longer an SPL.

Are you sure? I thought they were allowed to keep the history against the OLD club - i.e no cups or leagues stripped over the years of the cheating, however they are still a new club. I could be wrong

[PatHead]

It's 25 points for a second offence within 5 years I think, but the first a administration happened before the SPFL came into being so another insolvency event might be counted as the first one under the new rules. Maybe that's why The Ranjurs would need to ask the SPFL for advice on the matter, assuming the rumour is true.

Is it not a 1/3rd of previous season's points total with a minimum of 15/25 points* (delete depending on whether you consider yourself the old club)?

[The_Todd]

Is it not a 1/3rd of previous season's points total with a minimum of 15/25 points* (delete depending on whether you consider yourself the old club)?

The one-third rule was the last SPL rule. The SPFL has standardised it as 15/25 depending on first offence in five years or not.

[PatHead]

The one-third rule was the last SPL rule. The SPFL has standardised it as 15/25 depending on first offence in five years or not.

Darn. Would have loved The Rangers to start on -30 and still overtake Hearts after 11 games.

[steviehibsleith]

Heard from a Hun friend the day after Dave King was in Scotland, basically now everything is resolved with SA authorities he wants back in with Rangers only this time he wants full control. As other parties will not relinquish their positions/shareholding the only way this can happen is another administration after which he will ride in.

[green glory]

Heard from a Hun friend the day after Dave King was in Scotland, basically now everything is resolved with SA authorities he wants back in with Rangers only this time he wants full control. As other parties will not relinquish their positions/shareholding the only way this can happen is another administration after which he will ride in.

He has a criminal conviction for aggressive tax evasion, so he's unable to sit on the board of any club.

Everything wasn't resolved, that's Hun revisionism at its best.

[Finbar]

So who do they owe money to this time? Surely no one was mug enough to actually lend then cash?

[CropleyWasGod]

So who do they owe money to this time? Surely no one was mug enough to actually lend then cash?

This is where I am slightly sceptical about the claims of their demise.

They seem to have burned a lot of cash since they re-started, granted, but IIRC at the AGM they still had c. £10m in the bank. I would have thought that that would be enough to keep them out of insolvency for the time being.

[green glory]

So who do they owe money to this time? Surely no one was mug enough to actually lend then cash?

I don't think it's about debt at the moment. More about cash burn v money in the bank.

Malcolm Murray openly admitted they'd be down to their last million before the end of the season.

They don't have a credit line from any banks so it'll have to be austerity (big time) or insolvency.

[Ozyhibby]

Admin may be a way of getting out of some poor contracts that they signed.
Dean Shiels on 7k a week
Lee Wallace on 15k
Merchandising contracts
Etc
Doesn't have to be about debt

[Weststandwanab]

Admin may be a way of getting out of some poor contracts that they signed.
Dean Shiels on 7k a week
Lee Wallace on 15k
Merchandising contracts
Etc
Doesn't have to be about debt One of those figures is wrong by a third but I agree Admin 2 looms

[Ozyhibby]

One of those figures is wrong by a third but I agree Admin 2 looms

I've no doubt as I guessed?
:-)

[StevieC]

Are you sure?

It's the SFA and The Rangers, can anyone be sure?

To the best of my knowledge, the SFA are accepting that it's the same team. A look on the new SPFL website has the Division 1 team, called "Rangers", as being founded in 1872 and includes all their previous honours.

The "The Rangers" stuff is more to do with liability for debt than footballing history.

As the administration process (and drop down the leagues) was a footballing event, then you would assume that it's taken into consideration in any future footballing events.

[steviehibsleith]

He has a criminal conviction for aggressive tax evasion, so he's unable to sit on the board of any club.

Everything wasn't resolved, that's Hun revisionism at its best.
Craig Whyte was allowed to be a Director while under a 7 year directors ban and you think IF king comes back offering millions to take over Sevco the SFA will say sorry we cant allow that you are not a fit and proper person. You are correct and i agree wholeheartedly with you but no way will they would stop him IMO. In fact when questioned by a jounalist he said he had talked to the SFA and they didnt see a issue with him. The spivs and Easdales stopped him by refusing to sell him shares.

[CropleyWasGod]

Craig Whyte was allowed to be a Director while under a 7 year directors ban and you think IF king comes back offering millions to take over Sevco the SFA will say sorry we cant allow that you are not a fit and proper person. You are correct and i agree wholeheartedly with you but no way will they would stop him IMO. In fact when questioned by a jounalist he said he had talked to the SFA and they didnt see a issue with him. The spivs and Easdales stopped him by refusing to sell him shares.

He said that.

Stewart Reagan said differently.

[ballengeich]

This is where I am slightly sceptical about the claims of their demise.

They seem to have burned a lot of cash since they re-started, granted, but IIRC at the AGM they still had c. £10m in the bank. I would have thought that that would be enough to keep them out of insolvency for the time being.

I don't recall any claim that there was £10m remaining at the date of the agm and wouldn't believe such a figure. IIRC, the accounts presented at the agm stated that they had £11m in the bank at 30th June, most of which was 13-14 income received in advance. While the ratio of income to spending has almost certainly improved this season, I think it's unlikely that it could have improved enough for the bank balance to be only £1m down nearly five months after the accounting year end, even disregarding one-off items.

Stockbridge stated that they'd have £1m in the bank in April i.e when the 14-15 income starts coming in. Given his history that may well be optimistic, but I share your scepticism about their imminent demise. I suspect it's touch and go whether they run out of cash in the next few months, but if they're going to have another administration wouldn't the close season be the best time for it?

Here's a suggestion. Could the major shareholders set up a company (let's call it The Ticketus) which makes short-term loans to football clubs with interest rates that Wonga would be embarrassed to ask for? It could lend money to The Rangers on condition that payment was made as soon as season ticket and other income arrives this spring. The people providing the loan make a nice profit and the club completes the season. A quick administration which relieves the company of some high earners follows during the summer and all is barry for the new season.

Is that plausible?

[Deansy]

Craig Whyte was allowed to be a Director while under a 7 year directors ban and you think IF king comes back offering millions to take over Sevco the SFA will say sorry we cant allow that you are not a fit and proper person. You are correct and i agree wholeheartedly with you but no way will they would stop him IMO. In fact when questioned by a jounalist he said he had talked to the SFA and they didnt see a issue with him. The spivs and Easdales stopped him by refusing to sell him shares.


Come on - be fair. He wasn't 'allowed' exactly - it just slipped the attention of SDM, the Rangers-Board and the entire massed-ranks of our 'media' (who can normally be relied upon to tell you if Ally/Neil have washed their hands after wiping any given day of the week) - anyone can make mistakes .......

[marinello59]

Come on - be fair. He wasn't 'allowed' exactly - it just slipped the attention of SDM, the Rangers-Board and the entire massed-ranks of our 'media' (who can normally be relied upon to tell you if Ally/Neil have washed their hands after wiping any given day of the week) - anyone can make mistakes .......

The same media that dug out the dirt on Whyte and exposed him on TV and in print?
I think as things stood at the time it was up to the club itself to determine if Whyte was a fit and proper person at the time of his appointment, the procedures were simply useless.

[Keith_M]

The same media that dug out the dirt on Whyte and exposed him on TV and in print?
I think as things stood at the time it was up to the club itself to determine if Whyte was a fit and proper person at the time of his appointment, the procedures were simply useless.

I don't remember it like that. I think he was exposed by 'The Internet Morons' long before the MSM. They merely jumped on the bandwagon when it became undeniable how much of a chancer he was. Up until then he was Craig 'wealth-off-the-radar' Whyte, The Whyte Knight, etc.

[Deansy]

The same media that dug out the dirt on Whyte and exposed him on TV and in print?
I think as things stood at the time it was up to the club itself to determine if Whyte was a fit and proper person at the time of his appointment, the procedures were simply useless.

Yup, the same media that eventually dug the dirt-up on him. And it was the rangers responsibility but, Iirc, initially threatened court-action against BBC Scot if they went ahead with their 1st programme that (Mark Daly - 'The men who sold the jersey's ?) presented.

[CropleyWasGod]

I don't recall any claim that there was £10m remaining at the date of the agm and wouldn't believe such a figure. IIRC, the accounts presented at the agm stated that they had £11m in the bank at 30th June, most of which was 13-14 income received in advance. While the ratio of income to spending has almost certainly improved this season, I think it's unlikely that it could have improved enough for the bank balance to be only £1m down nearly five months after the accounting year end, even disregarding one-off items.

Stockbridge stated that they'd have £1m in the bank in April i.e when the 14-15 income starts coming in. Given his history that may well be optimistic, but I share your scepticism about their imminent demise. I suspect it's touch and go whether they run out of cash in the next few months, but if they're going to have another administration wouldn't the close season be the best time for it?

Here's a suggestion. Could the major shareholders set up a company (let's call it The Ticketus) which makes short-term loans to football clubs with interest rates that Wonga would be embarrassed to ask for? It could lend money to The Rangers on condition that payment was made as soon as season ticket and other income arrives this spring. The people providing the loan make a nice profit and the club completes the season. A quick administration which relieves the company of some high earners follows during the summer and all is barry for the new season.

Is that plausible?

You're probably right about the cash figures; I haven't been paying too much attention to this story recently.

I'll turn your scenario over in my head and get back to you.

[greenginger]

Or, could the threat of a second admin. be used as leverage by the new CEO. in negotiations with the high earners and costly service contracts entered into by former Club directors ?

[CropleyWasGod]

Or, could the threat of a second admin. be used as leverage by the new CEO. in negotiations with the high earners and costly service contracts entered into by former Club directors ?

The more I think of it, the more I think that the admin story is a bargaining chip. Being used by whom, I'm not clear yet, but your suggestion makes sense.

I still don't see administration as being imminent, but it would be bad governance to dismiss the possibility in the medium term.

[Spike Mandela]

Douglas Fraser (@BBCDouglasF)
14/01/2014 13:42
A lot of activity in #Rangers shares this morning. £660,000 changed hands in 5 trades, with the price sinking further #rfc

[BroxburnHibee]

I haven't been paying much attention to this lately but my brother (sadly a Rangers fan) reckons another admin is almost inevitable.

I hope he's right :greengrin

[green glory]

I haven't been paying much attention to this lately but my brother (sadly a Rangers fan) reckons another admin is almost inevitable. I hope he's right :greengrin

It's looking that way. Next month sometime maybe?

Four weeks to get it right
Posted by Phil Mac Giolla Bhain
What is the role of Philip Nash at Rangers International Football Club?

Given the company is hemorrhaging money the appointment of a highly paid consultant (£500 per hour is what I was told was the absolute minimum going rate for such chaps) it is a bit puzzling.

During his stint at Liverpool some Anfield insiders dubbed him “Philip Gash”.

So the scaffold has been built and the axe man is ready to take his place at the block.

I think he may play the same role as Donald Muir who has placed on the board of Rangers by Lloyds banking group on 2009.

For the fans he became “the enemy within”.

If Mr Nash can play this role then there is some logic to him being involved, on a consultative basis, with Sevco.

He will have real work to do there.

If you recall dear reader I have been writing for over a year that only austerity will save Sevco from insolvency.

The new club is, of course, a wholly owned subsidiary of the Rangers International football club.

Last week the RIFC share price went south at alarming rate.

Today as I write this their value continues to tumble as millions of shares were traded this morning.

Alarming that is if you bought into the deal at the IPO price.

These should be worrying times for the regular customers at Ibrox.

They’ve been there with Rangers and they can go there again with Sevco.

Graham Wallace’s main task now is to get the company in a fit state so as to prevent an insolvency event.

If, between them, Nash and Wallace can come up with a plan then they would be advised to start with a Pareto Analysis and in that you start with the biggest costs not with the smallest ones.

Any such examination of the financial woes of the new clumpany will quickly reveal that Super Ally has the biggest portion of the available pie.

As was reported here the much trailed 50% pay cut offer had not taken place even though the usual lamb outlets were stating it as a fact.

Now that Super Ally’s generous offer has finally been actioned the belt tightening can begin in earnest.

Graham Wallace, ably assisted by Philip Nash, cannot delay any further in implementing this massive cost cutting programme, a process that will resemble an insolvency event, which will be needed along with a significant price hike in Season Tickets.

Given the credentials of Graham Wallace I think, finally there is some competence in the Blue Room and he’ll do what needs to be done to steady the ship.

The downsizing will be significant and there really is no alternative.

The next four weeks will be vital for continuation of Project Sevco.

Mr Stockbridge , with Nash looking over his shoulder, will have to have the abacus going at an incredible rate as they calculate if there is enough liquidity for redundancy payments while keeping this entity alive

Unless severe austerity can be shown within that time period to the chaps in the Square Mile then there is little chance of raising the necessary finance to keep this loss making show on the road.

It would be beyond parody if something significant were to befall Rangers International Football Club and their loss making subsidiary Sevco exactly one month from now.

Yet again, the clock is ticking. As the shares plummet and a cash transfusion the only way for survival Friday, February 14th may be a red, white and blue letter day.

Roses are red, violets are blue the P45 in the post is just for you!

[The_Todd]

As much as I find the Rangers\Newco ongoing saga amusing, I think Phil McGoblin or whatever he's called, is taking it too far. I find him a bit cringeworthy, tbh.

[CropleyWasGod]

As much as I find the Rangers\Newco ongoing saga amusing, I think Phil McGoblin or whatever he's called, is taking it too far. I find him a bit cringeworthy, tbh.

"Taking it too far" in what respect? I agree that his language is a bit OTT at times... but I agree with the sentiment.

I was just having a similar conversation earlier today. As PM says, there really is no alternative to cost-cutting. Even at that, I am not sure that that will be enough to save them; again, as he says, the redundancy costs will be crippling.

I'm not convinced that insolvency is imminent, but the possibility has to be addressed.

[PatHead]

As much as I find the Rangers\Newco ongoing saga amusing, I think Phil McGoblin or whatever he's called, is taking it too far. I find him a bit cringeworthy, tbh.

How is he taking it too far? Surely he is pointing out that The Rangers are losing cash at an alarming rate. It cannot continue and if it does they are going back to square one 2 years to the day after the original administration. Nothing wrong with that.

Whats with Phil McGoblin- bit cringeworthy is it not?

[The_Todd]

"Taking it too far" in what respect? I agree that his language is a bit OTT at times... but I agree with the sentiment.

I was just having a similar conversation earlier today. As PM says, there really is no alternative to cost-cutting. Even at that, I am not sure that that will be enough to save them; again, as he says, the redundancy costs will be crippling.

I'm not convinced that insolvency is imminent, but the possibility has to be addressed.

In the way you meant. He's not objectively reporting on the situation, I just find his whole style cringey: his language, the way he changed his name to something "more Irish", the way he moved "back" to Ireland (despite being from Glasgow). He is everything anti-Rangers, he's almost a parody of a Celtic fan you'd be more likely to see in "Only an Excuse?"

I know we're not exactly objective about Hearts (or Rangers, for that matter), but this is a fan's forum. We don't claim to be serious grown-up journalists.

Does he ever talk about Celtic?

[The_Todd]

How is he taking it too far? Surely he is pointing out that The Rangers are losing cash at an alarming rate. It cannot continue and if it does they are going back to square one 2 years to the day after the original administration. Nothing wrong with that.

Whats with Phil McGoblin- bit cringeworthy is it not?

I'm just pointing out that Mac Giolla Bhain isn't his real name, he's changed it to be "more Celticy"

[PatHead]

I'm just pointing out that Mac Giolla Bhain isn't his real name, he's changed it to be "more Celticy"

Think it was to be more Irish than Celticy.

Obviously Mac Giolla Bhain isn't his real name and he tweets on a lot more than The Rangers, including many Irish matters, racism and bigotry as well as Celtic. The media just portray him as a one trick pony regarding Rangers and the new company. Doubt a lot of the naughty things the old club got up to wouldn't have been highlighted if it was not for him.

BTW I don't like the writing style of the Sun so I don't read it, suggest you just give him a wide berth if you don't like his style.

Not wanting to criticise and mean this as a real question. Why do you call yourself "the Governor" and have an image of a man with one eye holding a gun? What image are you trying to portray?

[The_Todd]

Think it was to be more Irish than Celticy.

Obviously Mac Giolla Bhain isn't his real name and he tweets on a lot more than The Rangers, including many Irish matters, racism and bigotry as well as Celtic. The media just portray him as a one trick pony regarding Rangers and the new company. Doubt a lot of the naughty things the old club got up to wouldn't have been highlighted if it was not for him.

BTW I don't like the writing style of the Sun so I don't read it, suggest you just give him a wide berth if you don't like his style.

Not wanting to criticise and mean this as a real question. Why do you call yourself "the Governor" and have an image of a man with one eye holding a gun? What image are you trying to portray?

All I'm saying is I'd more inclined to follow his articles if he wrote them in a manner more befitting an impartial journalist, because you're right - he did have a lot of important stuff to say. Maybe his audience would be bigger and more receptive if he didn't phrase all his columns as if they were meant for the Huddleboard.

As I've already said, this is nothing more than a fan's forum, not to be confused for "journalism". The fact my username and avatar are a fictional character from a TV show mean absolutely nothing.

[BroxburnHibee]

So they've obviously not learnt a single thing from their past mistakes

[PatHead]

So they've obviously not learnt a single thing from their past mistakes

and hopefully the same outcome will follow,follow...........

[CropleyWasGod]

So they've obviously not learnt a single thing from their past mistakes

Well they have, in a way.

This time they're bolting the stable door securely, and the stable will be fresh and clean.

The horse, though, pheckt off a while ago.

[Spike Mandela]

Well they have, in a way.

This time they're bolting the stable door securely, and the stable will be fresh and clean.

The horse, though, pheckt off a while ago.

I suspect the new horse 'follow follow' will be ridden in to the stable shortly. Jockey D.King.

[ballengeich]

I suspect the new horse 'follow follow' will be ridden in to the stable shortly. Jockey D.King.

Whether he'll own the stable is another question.

[Keith_M]

Obviously Mac Giolla Bhain isn't his real name and he tweets on a lot more than The Rangers, including many Irish matters, racism and bigotry as well as Celtic. The media just portray him as a one trick pony regarding Rangers and the new company. Doubt a lot of the naughty things the old club got up to wouldn't have been highlighted if it was not for him.


What is his real name?

[PatHead]

What is his real name?

Philip Joseph Gerard

[Ronniekirk]

I haven't been paying much attention to this lately but my brother (sadly a Rangers fan) reckons another admin is almost inevitable.

I hope he's right :greengrin
If that does happen how many points are they deducted as they are so far ahead they could take a 20 point deduction and still win promotion so buy buying there way back and taking the hit they will still view that as good business as next season in same division as Hearts would generate more income for them and higher season ticket prices .So once again cheating would of benefited them

[Ozyhibby]

If that does happen how many points are they deducted as they are so far ahead they could take a 20 point deduction and still win promotion so buy buying there way back and taking the hit they will still view that as good business as next season in same division as Hearts would generate more income for them and higher season ticket prices .So once again cheating would of benefited them

As they are a new club it should be 1/3 of last years total but if they insist they are the same club it's a minimum of 25 points.

[CropleyWasGod]

If that does happen how many points are they deducted as they are so far ahead they could take a 20 point deduction and still win promotion so buy buying there way back and taking the hit they will still view that as good business as next season in same division as Hearts would generate more income for them and higher season ticket prices .So once again cheating would of benefited them

They haven't cheated this time. ...yet. They have just spent all their money.

[The_Todd]

As they are a new club it should be 1/3 of last years total but if they insist they are the same club it's a minimum of 25 points.

The 1/3 rule doesn't exist anymore

[green glory]

As much as I find the Rangers\Newco ongoing saga amusing, I think Phil McGoblin or whatever he's called, is taking it too far. I find him a bit cringeworthy, tbh.

His language is deliberately designed to infuriate Sevconians. No matter how much truth there is in his blogs, they'll never be able to learn from it as they can't get past the deliberately inflammatory tone.

It's actually very clever.

[jgl07]

As much as I find the Rangers\Newco ongoing saga amusing, I think Phil McGoblin or whatever he's called, is taking it too far. I find him a bit cringeworthy, tbh.
I find apologists for Sevco rather cringeworthy too.

Just saying!

[The_Todd]

I find apologists for Sevco rather cringeworthy too.

Just saying!

Where did I say I was a Sevco apologist? Are you one of these people who assumes that if you don't like one half of the old firm you automatically like the other?

Personally I hate The Rangers as I find the way they've failed to learn their lessons most pleasing because it won't end well for them. Doesn't stop me from finding Celtic fanboys annoying.

[JeMeSouviens]

What is his real name?

It is his real name, just re-transliterated to Gaelic. I think the anglicised form is McGillivan.

He does seem to have some good sources but his writing is mediocre at best and the whole Klan/Nazi stuff is pretty cringeworthy notwithstanding the worst excesses of Hunism.

[CropleyWasGod]

This is nice. :greengrin

http://sport.stv.tv/football/clubs/rangers/260628-rangers-players-refuse-pay-cut-as-club-makes-attempt-to-cut-costs/

But it is STV. :rolleyes:

[Mikey]

This is nice. :greengrin

http://sport.stv.tv/football/clubs/rangers/260628-rangers-players-refuse-pay-cut-as-club-makes-attempt-to-cut-costs/

But it is STV. :rolleyes:

SSN reporting the same.

[Cropley10]

This is nice. :greengrin

http://sport.stv.tv/football/clubs/rangers/260628-rangers-players-refuse-pay-cut-as-club-makes-attempt-to-cut-costs/

But it is STV. :rolleyes:

These cuts will feel like admin. That is if Admin doesn't actually happen.

Brilliant. Isn't it.

[Billy Whizz]

SSN reporting the same.

They really are in a mess

[Cropley10]

It is his real name, just re-transliterated to Gaelic. I think the anglicised form is McGillivan.

He does seem to have some good sources but his writing is mediocre at best and the whole Klan/Nazi stuff is pretty cringeworthy notwithstanding the worst excesses of Hunism.

They are exactly like the Klan. WATP Supremacists.

[macca70]

Absolute Shambles of a club.

How can they be in this state so soon after what they've been through.

They should be kicked out of Scottish Football. They were paying £5k a week to players playing in 3rd and 2nd Division.

[Cabbage East]

Absolute Shambles of a club.

How can they be in this state so soon after what they've been through.

They should be kicked out of Scottish Football. They were paying £5k a week to players playing in 3rd and 2nd Division.

They're paying a hell of a lot more than £5k a week to some players right now.

[SurferRosa]

They're paying a hell of a lot more than £5k a week to some players right now.

True. Was just on the radio there, that Sheils and Black are on 7 grand a week..........and i doubt they are the highest earners.

[NORTHERNHIBBY]

Even the serial half-wits in what passes at their " support", can't point their knuckle-dragged fingers at anyone else this time. For a club that almost went out of business because of cheating, now they could go out of business through nothing more than sheer vanity, trying to work their way into relevance by attempting to compete with Celtc from a few leagues below.

[Viva_Palmeiras]

Working in the weege this week and overheard in a deli the owner talking to his customer asking bout his son who must be a junior said he'd gone from Rangers to Hearts (frying pan fire me thought) and that if he did well he'd be giving up school and signing (professionally) in March... I was tempted to butt in but I got a sandwich instead ;)

[ancient hibee]

It's said that McCulloch is on £12k-that's a week not a season.

[Weststandwanab]

They're paying a hell of a lot more than £5k a week to some players right now. A lot more than that.


True. Was just on the radio there, that Sheils and Black are on 7 grand a week..........and i doubt they are the highest earners.That is nowhere near he highest paid current player.

[Hibby70]

That is nowhere near he highest paid current player.

It's spelt Currant

[Makaveli]

It's amazing it's come to this again.

They should have been able to absolutely walk their way through the leagues with a sustainable annual wage budget of £2m (£40k a week) and a journeyman manager with good experience at that level. But no -- they decided to try to compete in the cups and pay Fat Sally more than £2,000 a day. He probably still earns more than the entire squad of any other team in the third or fourth tier.

With any kind of boardroom leadership they wouldn't have gone mental with SPL signings (Daly, Sheils, Black, Sandaza, Templeton, Kyle, Bell) when they were in the fourth tier. Remember when we were in the first division? McLeish signed guys like Derek Collins, Tom Smith and Paul Lovering (who were all solid at that level) to fill the gaps between a few real quality players. That's the way to do it, and Sevco already had a few SPL-level players in McCulloch, Wallace, Alexander etc.

Like Hearts they can have no excuses this time. The fans were happy to sign the players so they can pay the consequences.

[Springbank]

It's spelt Currant

Nice of you to capitalise it.

It's about the only thing that can be capitalised on at ibrox these days

[Weststandwanab]

It's spelt Currant Nice one :flag:


Nice of you to capitalise it.

It's about the only thing that can be capitalised on at ibrox these days You could capitalise loses - the Mad Vlad way !

[Spike Mandela]

The media campaign to bring in Dave King (aka tax evading white knight) will be ratcheted up several notches in the next few days I expect.

[Gettin' Auld]

Apparently the players have declined to take that 15% wage cut. :greengrin

http://www.football365.com/rangers/9119029/Scottish-football-Rangers-players-reject-proposal-to-cut-their-pay-by-15-

[Northernhibee]

I don't blame their players. If they've been promised that then why should they take a cut?

[Sylar]

This only has one outcome really...

What a ****ing shame :greengrin

[Hibs Class]

I don't blame their players. If they've been promised that then why should they take a cut?


Agree completely, in fact I commend them. If this hastens their demise then I'm all for it.

[CB_NO3]

I can see them selling Wallace and Templeton during this window to raise some much needed cash.

[Jack Hackett]

I can see them selling Wallace and Templeton during this window to raise some much needed cash.

What's the going rate for Scottish 3rd Tier players? :greengrin

[SteveHFC]

http://pedestriantv-prod.s3.amazonaws.com/images%2Farticle%2F2013%2F06%2F18%2Ftumblr_ls437uk tEJ1r0ze3to1_500.gif

[ballengeich]

We're focusing on the players' wages because the game is what interests us. While the players' wages are way above what's necessary to win the league they're in, it should be noted that The Rangers would still have lost millions last season if the entire squad had been amateurs.

The cost of the players isn't unreasonable as a proportion of turnover. Other expenses are a much larger problem as they're still at a level near to that of the Oldco on around half the turnover. That's where they need cuts of a lot more than the 15% wage reduction that's been turned down. It'll be getting worked on in the background but won't get the same publicity at present.

[AndyM_1875]

In the way you meant. He's not objectively reporting on the situation, I just find his whole style cringey: his language, the way he changed his name to something "more Irish", the way he moved "back" to Ireland (despite being from Glasgow). He is everything anti-Rangers, he's almost a parody of a Celtic fan you'd be more likely to see in "Only an Excuse?"

I know we're not exactly objective about Hearts (or Rangers, for that matter), but this is a fan's forum. We don't claim to be serious grown-up journalists.

Does he ever talk about Celtic?

Rarely and when he does its the typical patronising pish you'd expect from someone who doesn't attend games anyway. It was a Celtic fan who told me about Phil and that he was basically a hysteric and an axe grinding bore.

Although he got himself an NUJ card out of a cornflakes box Phil is certainly not a real journalist and basically jumped on a story (Rangers tax issues) originally broken by another journalist (Darryl King) and fair play to him he's milked it for all it's worth.

But his writing style is clunky and invariably descends into puerile name calling such as referring to Rangers fans as Nazis & Klan. That's just embarrassing and is the sort of nonsense you would read on the more infantile Sellik sites. His two books are even worse, bordering on the unreadable at time as he spouts his near incoherent ire and outrage and are filled with long links to online articles. In printed format I personally find that sort of thing off putting in the extreme. He must have had a very inexperienced editor or one who was asleep at the time.

Desperate to be taken seriously Phil sold the rights to his book to the Sun who then ran a mile when they read some of his stuff online and realised he was just another sectarian minded fruitcake. Although his little band of disciples squealed their outrage at this slight and insisted that Phil was being ironic rather than bigoted in truth he's never recovered from that.

Avoid.

[SMAXXA]

True. Was just on the radio there, that Sheils and Black are on 7 grand a week..........and i doubt they are the highest earners.

And it goes upto 10 grand a week next year, crazy stuff

[Big Ed]

We're focusing on the players' wages because the game is what interests us. While the players' wages are way above what's necessary to win the league they're in, it should be noted that The Rangers would still have lost millions last season if the entire squad had been amateurs.

The cost of the players isn't unreasonable as a proportion of turnover. Other expenses are a much larger problem as they're still at a level near to that of the Oldco on around half the turnover. That's where they need cuts of a lot more than the 15% wage reduction that's been turned down. It'll be getting worked on in the background but won't get the same publicity at present.

Can you give examples of the other expenses, please?

Not trying to be smart: genuinely interested.

[andrew70]

Can you give examples of the other expenses, please?

Not trying to be smart: genuinely interested.

I am sure I read somewhere that it costs Rangers £1m a month to run Ibrox and Murray Park. Ibrox itself is in need some major renovation works.

[down-the-slope]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes:

[Weststandwanab]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes: Serial failures.

[Eyrie]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes:

The The Rangers (Sevco 1690).

[ballengeich]

Can you give examples of the other expenses, please?

Not trying to be smart: genuinely interested.

http://www.rangers.co.uk/images/staticcontent/documents/AnnualReport2013.pdf

I'm not an accountant so if I get anything wrong I'm happy to be corrected. As I understand it, page 12 shows that their income for last season was £19 million and operating costs were over £33 million. One-off costs like repaying Oldco's football debts appear elsewhere.

The biggest item in operating costs was Staff Costs of almost £18 million. First team player wages were less than half of that. Rangers employ a lot of other people. McCoist and his sidekicks are the best known, and the executives took a good cut, but there's a large number in office jobs, stadium maintenance etc. I'd be surprised if any other SPFL club spends more on non-playing staff than it does on players.

The second biggest item in operating costs was Other Operating Charges at £13 million. That includes policing and stewarding on match days and the general running costs of Ibrox and Murray Park. I don't know what else is in that. Their player budget is way down from what the old Rangers paid in the SPL, while other costs haven't reduced so much. The review has to look at other items. Even simple things like travelling to away games on the day rather than staying in hotels overnight can help bring losses down.

[monktonharp]

http://www.rangers.co.uk/images/staticcontent/documents/AnnualReport2013.pdf

I'm not an accountant so if I get anything wrong I'm happy to be corrected. As I understand it, page 12 shows that their income for last season was £19 million and operating costs were over £33 million. One-off costs like repaying Oldco's football debts appear elsewhere.

The biggest item in operating costs was Staff Costs of almost £18 million. First team player wages were less than half of that. Rangers employ a lot of other people. McCoist and his sidekicks are the best known, and the executives took a good cut, but there's a large number in office jobs, stadium maintenance etc. I'd be surprised if any other SPFL club spends more on non-playing staff than it does on players.

The second biggest item in operating costs was Other Operating Charges at £13 million. That includes policing and stewarding on match days and the general running costs of Ibrox and Murray Park. I don't know what else is in that. Their player budget is way down from what the old Rangers paid in the SPL, while other costs haven't reduced so much. The review has to look at other items. Even simple things like travelling to away games on the day rather than staying in hotels overnight can help bring losses down.that seems like a staggering amount, to pay out on staff in it's self! even half of that going to players, is unbelievable, given their league status at the moment. incredible, and I hope they get their due returns, for acting like the biggest club on the planet, while heading up the 3rd tier of Scottish football

[ballengeich]

that seems like a staggering amount, to pay out on staff in it's self! even half of that going to players, is unbelievable, given their league status at the moment. incredible, and I hope they get their due returns, for acting like the biggest club on the planet, while heading up the 3rd tier of Scottish football

I don't think that Whyte, Green and whoever else was involved had considered the possibility that the new Rangers would not be voted into the SPL. When it happened they didn't adjust to it - they may well have believed that the consequences for the rest of the SPL would be so bad that a reorganisation would bring them back to the top tier for this season. Reality's kicking in now.

[Big Ed]

http://www.rangers.co.uk/images/staticcontent/documents/AnnualReport2013.pdf

I'm not an accountant so if I get anything wrong I'm happy to be corrected. As I understand it, page 12 shows that their income for last season was £19 million and operating costs were over £33 million. One-off costs like repaying Oldco's football debts appear elsewhere.

The biggest item in operating costs was Staff Costs of almost £18 million. First team player wages were less than half of that. Rangers employ a lot of other people. McCoist and his sidekicks are the best known, and the executives took a good cut, but there's a large number in office jobs, stadium maintenance etc. I'd be surprised if any other SPFL club spends more on non-playing staff than it does on players.

The second biggest item in operating costs was Other Operating Charges at £13 million. That includes policing and stewarding on match days and the general running costs of Ibrox and Murray Park. I don't know what else is in that. Their player budget is way down from what the old Rangers paid in the SPL, while other costs haven't reduced so much. The review has to look at other items. Even simple things like travelling to away games on the day rather than staying in hotels overnight can help bring losses down.

Thanks for the considered reply.

It looks like there may be a few awkward questions getting asked now, as it appears that no one else, other than The Huns themselves, can be blamed for this one.

Maybe the press might.......nah, maybe not.

[Ozyhibby]

Thanks for the considered reply.

It looks like there may be a few awkward questions getting asked now, as it appears that no one else, other than The Huns themselves, can be blamed for this one.

Maybe the press might.......nah, maybe not.

There was nobody to blame but themselves last time. Didn't stop them though and it won't stop them this time either.

[jonty]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes:

Sevco 80085 and Sevco 5138008


Old Skool calculator folk ken whits goan oan.

[stokesmessiah]

Sevco 80085 and Sevco 5138008


Old Skool calculator folk ken whits goan oan.

5318008 to be more precise :wink:

Personally i think they should go with 55378008.

[jonty]

5318008 to be more precise :wink:

Personally i think they should go with 55378008.

:rolleyes: that's what I get for going Casio and not Texas.

[JeMeSouviens]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes:

Third Rangers. :wink:

[Moulin Yarns]

Does anybody know who will be out of contract at The Rangers in the summer?

Anybody worth trying to get? :greengrin

[fat freddy]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes:

Govan Amateurs

[ORAC]

Rangers go Mammaries Up....

Reincarnated as The Rangers (Sevco 5088).....

They go mammaries up AGAIN......what will they be called :rolleyes:

Third Rangers?


Sent from the Tardis

[LancsHibs]

Sevco 1690:wink:

[Keith_M]

I just read this article (http://www.scotsman.com/sport/football/latest/rangers-first-team-squad-reject-15-pay-cut-1-3271020) and one interesting part was who they sent into the dressing room to propose the wage cut. One would presume it would be the manager, but McCoist kept well away and they basically shoved Lee McCulloch through the dressing room door then shut it behind him.

I understand Mr McCoist at that point had already 'walked away', at a considerable pace. That man is in his own words piyoorly dispikabul.

[Biggie]

a £200k bonus to a director for winning the 3rd division FFS....they deserve to go down the tubes this time (oops - I meant again....and for good)

[ScottB]

Reminds me of Hearts wage insanity; I bet you could have gotten most of those guys to sign for half the amount they are on, but big team means big wages in their minds presumably.

Either they were planning on much more income than they've gotten, or Chuckie was trying to run them into the ground.

[jacomo]

I don't think that Whyte, Green and whoever else was involved had considered the possibility that the new Rangers would not be voted into the SPL. When it happened they didn't adjust to it - they may well have believed that the consequences for the rest of the SPL would be so bad that a reorganisation would bring them back to the top tier for this season. Reality's kicking in now.

Except that lots of the player contracts were signed after it was confirmed they were starting again in the 4th tier.

It was a new company and surely they would have renegotiated contracts with all the staff who were moving to the new company - McCoist and the rest.

The way they have burned through cash over the past 18 months is as jaw-dropping as any of the extravagances during Minty's era.

[ginger_rice]

Except that lots of the player contracts were signed after it was confirmed they were starting again in the 4th tier.

It was a new company and surely they would have renegotiated contracts with all the staff who were moving to the new company - McCoist and the rest.

The way they have burned through cash over the past 18 months is as jaw-dropping as any of the extravagances during Minty's era.

I'd have thought that the staff who stayed would have transferred with TUPE protection? However common sense would have dictated any new signings come in a greatly reduced salaries, but they kept on paying crazy money and now almost (thankfully) back at square one

[jacomo]

I'd have thought that the staff who stayed would have transferred with TUPE protection? However common sense would have dictated any new signings come in a greatly reduced salaries, but they kept on paying crazy money and now almost (thankfully) back at square one

You're right. I suppose I was thinking more about the senior personnel.

But I guess they all wanted as much cash out of the business as possible.

[Onion]

Huns going into Admin again would make next season in Div 1 interesting.

[Spike Mandela]

Huns going into Admin again would make next season in Div 1 interesting.

What would their sanctions be? It used to get tougher for a second administration. SPFL would just make it up as they go along I suspect.:rolleyes:

[...WentToMowAnSPL]

What would their sanctions be? It used to get tougher for a second administration. SPFL would just make it up as they go along I suspect.:rolleyes:

What would the perfect catch 22 scenario for secco to admit they are/are not the same club ???

[Springbank]

533814 works where the 4 on a Casio looks like an h

[Jack]

What would their sanctions be? It used to get tougher for a second administration. SPFL would just make it up as they go along I suspect.:rolleyes:

In normal circumstances its a 25 point deduction however from another forum I understand their current temporary license will be revoked if there is a second insolvency event within 3 years.

[Jonnyboy]

Anyone see the interview with McMoist on the STV news at six?

Ramon whathisface "do you support the players in their refusal to agrre to a 15% reduction in pay?"

McMoist "yes I support them 100%"

Ramon whathisface "were you consulted about this by the board?"

McMoist "yes I was consulted"

Ramon whathisface "did you agree with the proposal"

A sweating and red faced McMoist "I neither agreed nor disagreed it's not my job as manager"

:faf:

[johnrebus]

The whole Rangers thing is now so surreal, I believe it only really exists in a parallel universe.


:confused:

[PatHead]

In normal circumstances its a 25 point deduction however from another forum I understand their current temporary license will be revoked if there is a second insolvency event within 3 years.

Stop talking dirty Jack. You are getting me all excited.

[cad]

The whole Rangers thing is now so surreal, I believe it only really exists in a parallel universe.


:confused:

Sure is ,

I was thinking about this Jelvic move to Hull and the 10% add on a tidy 600k by the way 300k goes to the unfortunate debtors which will get some a penny dainty if they`re lucky .,and the other £300k to The Rangers/Newco/Sevco58 surely The Rangers /Newco/ Sevco58 / won't get a penny as it was the old owners who sold him. If the current The Rangers/Newco/Sevco58 can't inherit old company debts then the new company owners can't receive money from an old sale ,or am I missing something ??,I expected the entire £600k to go to the unfortunate ones .

[sadtom]

Noticed a geegee running today called Blueseaofibrox (its amazing what ill will you can wish on a dumb animal [and horses ;-) ] due to fitba.
Anyhoo, it was 20/1 and shared the lead most of the way round and looked like it was in with a squeak. 1/2 a mile from home it faded dramatically and was pulled up (i think). Clearly the ground was too TAXing. (coat already got).

Any excuse to get this thread back on the front page where it belongs. :-)

[Lucius Apuleius]

Sad to say I had an argument in a Prostate Cancer UK volunteers meeting yesterday. Boy says one of the worst days of his life was when all the teams voted to have Ra Gers papped out the premier league and that know. Could not let it go without correcting him. Not a happy bunny was he. :-)

[Spike Mandela]

David Low (@Heavidor)
24/01/2014 15:31
Another 2.2m teddy shares traded today. Tidy up continues. Expect more bleating from DK types as they lose out again

pic.twitter.com/XpizWxODB1

[Billy Whizz]

Finance director, Stockdale gone today. They've been trying to empty him for a while though

[Keith_M]

Spiers in the Herald today said McCoist has agreed to a 40% reduction in his Salary. If that applies to his whole salary, that means he's still on 500k a year.

Still an amazing wage for a third tier Scottish manager.

[The_Todd]

Spiers in the Herald today said McCoist has agreed to a 40% reduction in his Salary. If that applies to his whole salary, that means he's still on 500k a year.

Still an amazing wage for a third tier Scottish manager.

It's a mental wage for any football manager let alone a third tier Scottish one. I honestly don't understand what Newco we're thinking of paying him that much, I doubt he even would have asked for that.

[Eyrie]

It's a mental wage for any football manager let alone a third tier Scottish one. I honestly don't understand what Newco we're thinking of paying him that much, I doubt he even would have asked for that.

Sevco Huns simply took over McCoist's existing contract when Huns RIP were liquidated, and did similarly with a number of the players. It was a triumph of arrogance over financial reality that now has them running out of money within two years of being founded.

[Jonnyboy]

Spiers in the Herald today said McCoist has agreed to a 40% reduction in his Salary. If that applies to his whole salary, that means he's still on 500k a year.

Still an amazing wage for a third tier Scottish manager.

Aye but ye cannae expect any manager on that kinda dosh to be happy in anything less than a 5 star hotel :wink:

[Hibs Class]

Spiers in the Herald today said McCoist has agreed to a 40% reduction in his Salary. If that applies to his whole salary, that means he's still on 500k a year.

Still an amazing wage for a third tier Scottish manager.

TBH, given that fat boy's IQ is lower than his shirt number you cannot blame him for hoovering up cash at whatever rate the deluded, incompetent board allow him to do so. And if he accelerates newco's financial demise through his greed then so much the better.

[SurferRosa]

Sally in the papers the day still harping on about Dave King and hoping that this crook would pile his cash into them when they get back to the top flight. Shows they continue to learn nothing. Good.

[s.a.m]

And also in today's papers, Glenn Gibbons gets stuck in to Super Ally:

http://www.scotsman.com/sport/football/latest/glenn-gibbons-rangers-job-has-worn-down-mccoist-1-3281442

[Onion]

And also in today's papers, Glenn Gibbons gets stuck in to Super Ally:

http://www.scotsman.com/sport/football/latest/glenn-gibbons-rangers-job-has-worn-down-mccoist-1-3281442

What a great piece. :thumbsup:

[marinello59]

And also in today's papers, Glenn Gibbons gets stuck in to Super Ally:

http://www.scotsman.com/sport/football/latest/glenn-gibbons-rangers-job-has-worn-down-mccoist-1-3281442

He's not untouchable any more that's for sure. Good.:greengrin

[WindyMiller]

And also in today's papers, Glenn Gibbons gets stuck in to Super Ally:

http://www.scotsman.com/sport/football/latest/glenn-gibbons-rangers-job-has-worn-down-mccoist-1-3281442


At last, someone pointing out what most of us have known for months/years.

[green glory]

A lot of Twitter chat from usually reliable sources that Craig Whyte is about to step into the spotlight again.

[sadtom]

A lot of Twitter chat from usually reliable sources that Craig Whyte is about to step into the spotlight again.

Ohya******! Cannae wait for the next instalment courtesy of agent Whyte. Sit back and break out the popcorn.
I do hope yer not just teasing?! :-)

[Keith_M]

A lot of Twitter chat from usually reliable sources that Craig Whyte is about to step into the spotlight again.


You can't just leave it at that, ya tease!

Details please.

[johnbc70]

You can't just leave it at that, ya tease!

Details please.

Sorry don't have link but details in Alex Thomsons blog on Ch4 website. Summary is Craig Whytes court case regarding his ownership claim to The Rangers could go his way, he may still own them. That would be interesting.

[SteveHFC]

http://blogs.channel4.com/alex-thomsons-view/

[CropleyWasGod]

http://blogs.channel4.com/alex-thomsons-view/

That's some story.

It remains to be seen whether it has any substance, or if it's a Mitty-type scenario. I have to say that nothing would surprise me; Green and Whyte deserve each other, IMO.

[Jonnyboy]

Glenn Gibbons on Rangers

Scotland’s most aberrant football club

Nice one :thumbsup:

[SurferRosa]

Glenn Gibbons on Rangers

Scotland’s most aberrant football club

Nice one :thumbsup:

I think " abhorrent " would have been a more apt word to describe that 'football club'. Maybe they made a typo....

[lapsedhibee]

Glenn Gibbons on Rangers

Scotland’s most aberrant football club

Nice one :thumbsup:

I'm no good at anagrams.

Does currant buns
nearly anagrammatise
into aberrant anything?

[Jonnyboy]

I think " abhorrent " would have been a more apt word to describe that 'football club'. Maybe they made a typo....

I agree but of the many meanings of the word aberrant I choose deviant :greengrin

[Hibs Class]

That's some story.

It remains to be seen whether it has any substance, or if it's a Mitty-type scenario. I have to say that nothing would surprise me; Green and Whyte deserve each other, IMO.

Agree they deserve each other, and the The Rangers deserve them both.

[Ronniekirk]

Rangers turn down £900'000 bid for lee Wallace apparently ,nice that these teams in financial crisis can afford to do that Did they eventually pay the Her7s the full amount they were due them Seem to remember them trying to not pay full whack at some point

[SurferRosa]

I agree but of the many meanings of the word aberrant I choose deviant :greengrin

That also, would be a fine.....and accurate description. :agree:

:greengrin

[cabbageandribs1875]

Rangers turn down £900'000 bid for lee Wallace apparently ,nice that these teams in financial crisis can afford to do that Did they eventually pay the Her7s the full amount they were due them Seem to remember them trying to not pay full whack at some point




http://www.dailyrecord.co.uk/sport/football/football-transfer-news/rangers-boot-out-900k-nottingham-3087772



“But it begs the question, why was the idea of player wage cuts floated in the first place if the board can afford to turn down almost £1m? indeed :agree:

[Moulin Yarns]

http://www.dailyrecord.co.uk/sport/football/football-transfer-news/rangers-boot-out-900k-nottingham-3087772



“But it begs the question, why was the idea of player wage cuts floated in the first place if the board can afford to turn down almost £1m? indeed :agree:

I also liked this...

“Forest won’t pay another penny for a player from Scottish football’s third tier."

[gorgie greens]

Rangers turn down £900'000 bid for lee Wallace apparently ,nice that these teams in financial crisis can afford to do that Did they eventually pay the Her7s the full amount they were due them Seem to remember them trying to not pay full whack at some point

I would hope not , its a bit of double edged sword,you dont want the currant buns to get away with it,but i certainly dont want the yams to get anything that would allow them to remain on there life support machine any longer than is needed.

[Keith_M]

http://blogs.channel4.com/alex-thomsons-view/


There's nothing factual in there to get excited about.

He could be just desperate to pay off the bill to Ticketus and wants to scare The Rangers with the threat of leagal action into making a financial settlement with him., or he could just be an attention seeking twat. Nobody has presented any evidence to support his claims.

[Spike Mandela]

Mr Whyte appears to be getting under their skin.......

http://www.heraldscotland.com/news/home-news/rangers-director-brands-former-owner-craig-whyte-mad.23324172

[Spike Mandela]

Phil MacGiollaBhain (@Pmacgiollabhain)
01/02/2014 15:16
For the avoidance of doubt.
only external finance will save Sevco from an insolvency event this month.
It is available, but it is expensive

[CropleyWasGod]

Phil MacGiollaBhain (@Pmacgiollabhain)
01/02/2014 15:16
For the avoidance of doubt.
only external finance will save Sevco from an insolvency event this month.
It is available, but it is expensive

Interesting.

I can only assume that he has detailed insider knowledge. From what I can see in the public domain, I wouldn't have expected it so soon.

Lovely thought to brighten a crappy day though. :greengrin

[Spike Mandela]

Interesting.

I can only assume that he has detailed insider knowledge. From what I can see in the public domain, I wouldn't have expected it so soon.

Lovely thought to brighten a crappy day though. :greengrin

Here's his thoughts CWG......

http://www.philmacgiollabhain.ie/sevco-in-february/#more-4348

[CropleyWasGod]

Here's his thoughts CWG......

http://www.philmacgiollabhain.ie/sevco-in-february/#more-4348

Cheers, Spike. Seems Craigy boy has timed his run well.

"A fatal pathogen" eh? Not a phrase I've heard before, but it could become legendary. :greengrin

However, for the less-than-literary hordes in Govan, he puts it a better way in his last sentence. "Sevco are ****ed".

[green glory]

Cheers, Spike. Seems Craigy boy has timed his run well. "A fatal pathogen" eh? Not a phrase I've heard before, but it could become legendary. :greengrin However, for the less-than-literary hordes in Govan, he puts it a better way in his last sentence. "Sevco are ****ed".

Joy. Hopefully this time they won't rise from the grave again.

According to some religions the second death is the one that burns for eternity.

Itching to open that bottle of Talisker.

[ballengeich]

Wouldn't insolvency this month mean that the club had totally run out of cash? In these circumstances could an administrator do anything more than shut down the football club and padlock the gates?

[CropleyWasGod]

Wouldn't insolvency this month mean that the club had totally run out of cash? In these circumstances could an administrator do anything more than shut down the football club and padlock the gates?

Probably, although they could do a deal with the SPFL to get their prize money early (a la Gretna) and try to do a quick CVA or pre-pack.

[greenginger]

Probably, although they could do a deal with the SPFL to get their prize money early (a la Gretna) and try to do a quick CVA or pre-pack.


But who are the main creditors ? Surely not Hector again :greengrin

[Saorsa]

Probably, although they could do a deal with the SPFL to get their prize money early (a la Gretna) and try to do a quick CVA or pre-pack.Nae doubt they'd go out their way tae help that trash, which would be ridiculous since they've only themselves tae blame for getting in tae it again. When these Newcos get in tae the league there should be rules tae force them tae live within their means. Everybody including the SFL/SPL/SPFL/SFA already knew this lot were spending mair money than they had tae cheat their way back up tae the top again yet it was allowed tae happen again.

[CropleyWasGod]

But who are the main creditors ? Surely not Hector again :greengrin

Actually, given the amount of money they have spent, it would be funny if they had paid ALL their bills on time and owed nobody anything. It's just that they have nae dosh left. :greengrin

[Vini1875]

Nice as it would be to chuckle about, this guy has been wide of the mark for a long time and I doubt he has any contacts inside mordor anymore. Like a lot of people he is simply putting two and two together and coming with a number that suits him. The huns are downsizing alright but there are still enough money men around for them to get involved, trouble is that there is a clash of egos. Their shares are still being bought as the penny share punters cash in. Much like hearts they will stagger on for a while yet.

[ballengeich]

My guess remains that they'll have access to credit, carrying payday loan interest, which will get them through to the arrival of next season's ticket money. Wallace's business review is due around the same time and should have examined multiple options for the company's future. At that point the fighting in the boardroom would become tasty.

[down-the-slope]

OOOOOO EEE RRRRR this good brighten up a few winter nights if this is going to re-ignite :greengrin

[Mikey]

How many teams get promoted from the Lowland League to the SPFL? Hearts AFC could have some unexpected competition down there :hilarious

[down-the-slope]

If they went into admin in next few weeks is the current new rules on a points deduction mean they could get that and still win the league :rolleyes:

[Ronniekirk]

If they went into admin in next few weeks is the current new rules on a points deduction mean they could get that and still win the league :rolleyes:
Yes the media through here in the west have suggested that's what McCoist planned from the outset as he was aware there was a chance all be it slim that admin was a possibility .Hence why they justify overspending .They know that next year they can hike up season ticket prices and tv will want to show more of their games and more sponsorship can be attracted .they Also know if they can get the board room squabbling sorted that there are investors waiting in the wings .I am not convinced they will cut wages going up to play hear7s etc as they will feel it's a more exciting product in that division and they will need to up their game and bring in better quality players So will be interesting how thing pan out .

[jacomo]

Here's his thoughts CWG......

http://www.philmacgiollabhain.ie/sevco-in-february/#more-4348

How well informed is this guy really? Openly hostile to The Huns, which is fair enough, but how would he really be in the position to get privileged insider knowledge.

New Rangers are a shambles but I'll take this prediction with a wee pinch of salt.

[Keith_M]

How well informed is this guy really? Openly hostile to The Huns, which is fair enough, but how would he really be in the position to get privileged insider knowledge.

New Rangers are a shambles but I'll take this prediction with a wee pinch of salt.


That's my thoughts exactly. I sense a lot of wishful thinking going on at this point, base on hatred of the Currants.

[johnbc70]

Hard to believe when they turned down bids for Wallace, if they were that desperate then he would have been sold surely.

[Jack Hackett]

Hard to believe when they turned down bids for Wallace, if they were that desperate then he would have been sold surely.

That's a strange one. If they're planning to go back into admin, part of their reasoning will surely be that it will be a good excuse to get rid of as many of the high earning deadwood as they can. I'm assuming that selling him would make any money they make from him now unavailable after admin. You can put money on him not being one of those shown the door during admin if it happens, but punted in the summer

[PatHead]

Maybe the bid was nowhere near the 900k reported in the press but sevco were happy to look like they could turn the bid down.

[greenginger]

I know its the Sun, but ..........


http://www.thescottishsun.co.uk/scotsol/homepage/news/5416829/Gers-probed-over-new-cash-crisis.html

Groundhog Day ! :greengrin

[ACLeith]

If true, the gift that just keeps on giving.

[jacomo]

I know its the Sun, but ..........


http://www.thescottishsun.co.uk/scotsol/homepage/news/5416829/Gers-probed-over-new-cash-crisis.html

Groundhog Day ! :greengrin

Behind the pay wall. Do they have a credible source or is this all just going round in circles?

[greenginger]

Behind the pay wall. Do they have a credible source or is this all just going round in circles?


I guess I'll have to flick through the back pages of the paper when I'm getting the roles.

[Spike Mandela]

I guess I'll have to flick through the back pages of the paper when I'm getting the roles.

Are you part of an amateur dramatic society?:wink:

[Ozyhibby]

Are you part of an amateur dramatic society?:wink:

:-)

[greenginger]

Are you part of an amateur dramatic society?:wink:


Oops ! it is early.

[Springbank]

See you in the queue over at Widdicombe & Pump...

[Niffy]

Do you think they will become The The Rangers ?

[JeMeSouviens]

That's my thoughts exactly. I sense a lot of wishful thinking going on at this point, base on hatred of the Currants.

He obviously hates them but he has been bang on the money with inside stories before, HMRC sending the bailiffs to Ibrox for example. Anyway, here's his latest ...

http://www.philmacgiollabhain.ie/sevco-on-borrowed-time/

[AndyM_1875]

He obviously hates them but he has been bang on the money with inside stories before, HMRC sending the bailiffs to Ibrox for example. Anyway, here's his latest ...

http://www.philmacgiollabhain.ie/sevco-on-borrowed-time/

He's a steaming turd of a man and a raving hysterical bigot blinded by hatred.

No thanks.

[Spike Mandela]

He's a steaming turd of a man and a raving hysterical bigot blinded by hatred.

No thanks.

Have you actially read downfall? Far from being hysterical bigotry blinded by hate it is a measured, insightful and detailed analysis of the buid up to Sevco's first administration which was ignored by our illustrious MSM.

Nobody has written it's equal except in very rose tinted hindsight in this country. I would believe his utterances long before any other commentators to be honest.

[StevieC]

He obviously hates them but he has been bang on the money with inside stories before, HMRC sending the bailiffs to Ibrox for example. Anyway, here's his latest ...

http://www.philmacgiollabhain.ie/sevco-on-borrowed-time/

The link isn't working .. what was the jist of the article?

[CropleyWasGod]

The link isn't working .. what was the jist of the article?

Hawking RFC around London financiers. No luck.

New Financial guy shocked at the extent of the problems. Thought a sale-and-lease-back was a shoe-in. That won't work due to the dilapidations in Ibrox.

Unpaid bills stuffed in drawers.

Redundancies shelved because they can't afford the pay-offs.

:rolleyes:

[AndyM_1875]

Have you actially read downfall? Far from being hysterical bigotry blinded by hate it is a measured, insightful and detailed analysis of the buid up to Sevco's first administration which was ignored by our illustrious MSM.

Nobody has written it's equal except in very rose tinted hindsight in this country. I would believe his utterances long before any other commentators to be honest.

I thought it was appallingly put together, Spike. If he had a decent editor it might just have been savable. Nobody as written the definite story of the Rangers collapse yet because the story is far from finished.

FWIW I've read plenty of his blogs and find him insufferable. Most of his blogs are clunky axe-grinding rubbish but some are worse than others and a couple have just been out and out bigotry. In my opinion he's a demented plastic pretend hack desperate to be taken seriously. And it was that same derided MSM that he was desperate to flog his book off to. He has never recovered from being labeled as "tarred with a sickening sectarian brush" by of all papers the Scottish Sun, after they read his piece 'The Incubator' which was actually a nasty piece of bigotry and whilst he and his little cabal of followers desperately tried to pass it off as satire, Ronnie MacKay & co weren't fooled.

For all our MSM is derided, rightly so at times, it's unfair to tar all with the same brush and make sweeping generalisations. So whilst IMHO the likes of Jim Traynor and Keith Jackson were worse than useless(probably out of fear of upsetting their paymasters or getting sued), I'll give credit to the likes of Tom English, Roddy Forsyth and Darrell King (the journo who broke the Rangers tax story). These hacks well and truly had Phil's number but actually offered insightful, measured, non hysterical comment at a time of a feeding frenzy.

Buy into Phil's agendas if you like but remember that with Phil, it's all about him shifting his product and having folk buy into his agenda.

[Weststandwanab]

Found this we ditty it should be fun in the West.


http://wck2.companieshouse.gov.uk//wcprodorder?ft=1 (http://wck2.companieshouse.gov.uk/wcprodorder?ft=1)

[Niffy]

Link timed out.

[GreenLake]

Page doesn't load

[RIP Bestie]

Found this we ditty it should be fun in the West.


http://wck2.companieshouse.gov.uk//wcprodorder?ft=1 (http://wck2.companieshouse.gov.uk/wcprodorder?ft=1)



Link just comes up with a failure message

[Gus Fring]

Does this relate to their alleged failure to pay VAT? Been hearing that from a couple of colleagues today.

[Weststandwanab]

Apologies.

Does this screen capture work

Reminds me of the song Return of the Mack !

[CallumLaidlaw]

http://img.tapatalk.com/d/14/02/05/uvyvahem.jpg

[GreenLake]

Craig Whyte appointed as a director yesterday. Is this a photoshop job or should I make some popcorn?

[calumhibee1]

Can't see this under any of the Rangers companies..

[Moulin Yarns]

That doesn't make sense, 31/1/14 Craig Whyte Appointment Terminated then 4/2/14 Mr Craig Thomas Whyte Director Appointed

[robinp]

Craig Whyte appointed as a director yesterday. Is this a photoshop job or should I make some popcorn?

No, it's real, I just checked Companies House Direct. Craig Whyte has been appointed a director of Sevco 5088 Limited.

[lord bunberry]

No, it's real, I just checked Companies House Direct. Charles Whyte has been appointed a director of Sevco 5088 Limited.

I thought he was barred from holding any sort of role in a scottish club.

[Moulin Yarns]

No, it's real, I just checked Companies House Direct. Craig Whyte has been appointed a director of Sevco 5088 Limited.


I thought he was barred from holding any sort of role in a scottish club.

I don't think Sevco 5088 have anything to do with TRIFC

What it does show is that Craig and Charles were directors at the same time, between April 2013 and November 2013

[Jones28]

Can they just **** off and die please? Again

[Weststandwanab]

Craig Whyte appointed as a director yesterday. Is this a photoshop job or should I make some popcorn? The latter.


Can't see this under any of the Rangers companies.. Sevco 5088 Limited


That doesn't make sense, 31/1/14 Craig Whyte Appointment Terminated then 4/2/14 Mr Craig Thomas Whyte Director Appointed Why not ?


No, it's real, I just checked Companies House Direct. Craig Whyte has been appointed a director of Sevco 5088 Limited.Correct.


I thought he was barred from holding any sort of role in a scottish club. He is but as there are no checks you just complete the paperwork, submit it and wait till you get caught.

Then you rip it up and start again ...... that is one for the more mature Hibbys

[blaikie]

Drove by Ibrox this afternoon, lots of media and a few police cars/bikes unusual for a Wednesday afternoon, So the 2nd fall of the mighty unwashed in full swing with the return of Whyte?

[Keith_M]

I thought he was barred from holding any sort of role in a scottish club.


If it's Sevco5088, then that has nothing to do with the company who currently own The Rangers*. The assets were transferred from them to Sevco Scotland.



* Unless you believe Craig Whyte.

[Jack Hackett]

The latter.

Sevco 5088 Limited

Why not ?

Correct.

He is but as there are no checks you just complete the paperwork, submit it and wait till you get caught.

Then you rip it up and start again ...... that is one for the more mature Hibbys

I'll drink an Orange Juice to that

[Moulin Yarns]

If it's Sevco5088, then that has nothing to do with the company who currently own The Rangers*. The assets were transferred from them to Sevco Scotland.



* Unless you believe Craig Whyte.

Agreed

[StevieC]

If it's Sevco5088, then that has nothing to do with the company who currently own The Rangers*. The assets were transferred from them to Sevco Scotland.
* Unless you believe Craig Whyte.

Although the initial agreement stated that if the CVA failed (which it did) then the assets would be purchased by Sevco5088 for £5.3m. This may be the start of a very long legal battle whereby CW is putting claim to the assets (possibly claiming they were transfered to Sevco Scotland illegally?).
Remember that CW has a substantial Ticketus claim hanging over his head.

[Weststandwanab]

I'll drink an Orange Juice to that Boom Boom.


Although the initial agreement stated that if the CVA failed (which it did) then the assets would be purchased by Sevco5088 for £5.3m. This may be the start of a very long legal battle whereby CW is putting claim to the assets (possibly claiming they were transfered to Sevco Scotland illegally?).
Remember that CW has a substantial Ticketus claim hanging over his head. May = will.

[SurferRosa]

The SFA`s get out of jail free card will be that SevCo Scotland applied for the licence and not SevCo 5088.

[Ronniekirk]

That doesn't make sense, 31/1/14 Craig Whyte Appointment Terminated then 4/2/14 Mr Craig Thomas Whyte Director Appointed
What doesn't make sense .The fact he is telling us his middle name is Thomas .I have my Doubts .:rolleyes:

[CropleyWasGod]

The bit about CW's removal and appointment is a common error. They have done the same with Aidan Earley.

You'll see that, in both cases, they have added middle names. The CH website is a bit clunky when it comes to amending directors' details and, although experienced users can amend details easily, I have seen situations where the user has found it easier to delete the old entry and insert a new one.