Sevco Admin 2

[Green Blood]

https://www.bbc.co.uk/sport/football/52071570?fbclid=IwAR3CrMWTlP1mbxjJkoyB1dcxIGm333Br 17scFCbvfjsYFtHT4IzR7fjbNhM


Its started!

[WoreTheGreen]

Dominos starting

[Keith_M]

Admin 2?

Please let it be true!

[Ozyhibby]

A bit worrying for them that the £10m finance they needed to finish a normal season has now fallen through.


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[WoreTheGreen]

Full and diets he he he

[Joe6-2]

Full and diets he he he

Let it be true!
What a boost at this horrible time.

[Del Boy]

Sounds like they’re in serious trouble

[Green Blood]

They are done for, does not matter what Morelos is worth if football worldwide is on hold.

[Joe6-2]

Can someone explain to me why this is such a big deal?

[JXM73]

Dave king walking away

[weecounty hibby]

Please please please please please please please please please please please please please please please please please please please please please please please please let it be so. In this time of extreme sadness and upheaval in the world this would be truly uplifting news

[Green Blood]

Can someone explain to me why this is such a big deal?

King knows its over and does not want to go down with the ship! I think also there may be investigations into financial mismanagement and he wants to go before it comes to a head! If you think that everything is rosy in their garden then let us know.

[McD]

Can someone explain to me why this is such a big deal?


they started 5 months ago that they needed 10 million to get to the end of the season.

this statement says that funding has not been secured, so the inference is that they will now be sailing close to the wind, and don’t have the possible saviour of selling someone like Morelos as everything has stopped

[Pretty Boy]

King stepping down isn't a huge deal, that was planned. The statement about lack of funding is huge.

[ehf]

https://www.bbc.co.uk/sport/football/52071570?fbclid=IwAR3CrMWTlP1mbxjJkoyB1dcxIGm333Br 17scFCbvfjsYFtHT4IzR7fjbNhM


Its started!

"However, this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

"The subsequent severe developments within the sporting and general business environment - that have now resulted in global lockdowns - has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

Trying to make it sound as if it was their decision not to accept investment rather than that the potential investors (if there any) ran a mile.

[Rumble de Thump]

"Careful financial planning" :greengrin:greengrin:greengrin

[Hibs4185]

Huns and diet huns financial problems. Far too exciting!

[Bostonhibby]

They should maybe get Mrs doctor Budge to invite Park round to tiny castle for a quick lecture about how to run a football club and living within your means?

Tick tock.

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[Green Blood]

"I considered the possibility of extending my time as chairman until the coronavirus crisis is over but that is not practically possible. After I returned to South Africa last week from the board meeting, I was mandated by the South African authorities to go into self-isolation for 14 days - which I am presently undergoing."


So convenient!

King had expected a fresh round of funding in the club - reports 10 days ago (https://www.bbc.co.uk/sport/football/51919776)linked Far East real estate tycoon Stuart Gibson with leading a multi-million pound investment - but that has now been shelved. Rangers announced in November they required an extra £10million before the end of the season.

And that's a minimum, I heard its nearer £20 million as they had factored in a substantial amount of revenue through Europe and transfer fees.

"At my final board meeting in Glasgow on March 14, the board was close to finalising a new round of funding," King added.
"However, this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus.

Anyone with money has lost a huge amount of their wealth, leaves little to invest and with so much uncertainty the rats are deserting the sinking ship. Expect Gerrard to announce he is off probably to a mid table premiership club within a month or two!

"The subsequent severe developments within the sporting and general business environment - that have now resulted in global lockdowns - has necessitated that the careful financial planning assumptions presented on March 14 are revisited."

We are ****ed basically!

[Joe6-2]

King knows its over and does not want to go down with the ship! I think also there may be investigations into financial mismanagement and he wants to go before it comes to a head! If you think that everything is rosy in their garden then let us know.

I’m hoping the garden is a dung heap!

[Ozyhibby]

While I’m confident that Scottish football will start as normal in August I’m not sure European football will be able to go ahead next season. I think there will still be too many travel restrictions in place to run a meaningful season. That would be a big blow to a club like Sevco living on the financial edge.


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[Bostonhibby]

So they'll not be buying Kamberi for £2m then?

He'll just have to quickly find another club he's always wanted to play for.

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[Joe6-2]

So they'll not be buying Kamberi for £2m then?

He'll just have to quickly find another club he's always wanted to play for.

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Hibs? 😳

[Bostonhibby]

Hibs? [emoji15]Personally I hope not.

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[Joe6-2]

Personally I hope not.

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Don’t want him anywhere near ER

[HoboHarry]

I'm wondering if King being cold shouldered meant he had to step down in order for Sevco to get any Government sponsored financial help?

[Green Blood]

I believe Gerrard being lined up by Newcastle FC

[Rumble de Thump]

Sevco and Hearts should merge. Between them they might be able to salvage enough parts of their stadia to create one complete, reasonably safe stadium.

[murray26]

Bye bye good riddance another blot on society hopefully gone.

[Hibs4185]

Bye bye good riddance another blot on society hopefully gone.

Who would ever have thought that Covid-19 could bring such good to y he world!

[PatHead]

Can the title of the thread be changed? It is not admin for sevco. They have never been in admin. It was the old club that was eventually liquidated that went into administration.

[Waxy]

Sevco and Hearts should merge. Between them they might be able to salvage enough parts of their stadia to create one complete, reasonably safe stadium.

We could call them Shearts

[Waxy]

This is sevcos first admin.

[Col2]

Isn’t it telling that over the last 8 years it’s consistently been Hearts 2011-14 and now 2020 and Rangers 2011-onwards that are the clubs who have by far the most financial problems, all of whom are self inflicted through overspending to try and achieve success.

Ann Budge in her 6 years in charge has not won a single major trophy and never finished ahead of Hibs in the top league.

Sevco have still to win a major trophy since Rangers v1 were liquidated.

[O'Rourke3]

Can the title of the thread be changed? It is not admin for sevco. They have never been in admin. It was the old club that was eventually liquidated that went into administration.


Beat me to it. However it's pleasing...

[Denverhibby]

Dave king walking away
Was it him that started the saying “ WE DONT DO WALKING AWAY”

[Bishop Hibee]

What a time to be alive.

[badabing67]

So what will it all mean for us..... not sure.... but for Celtic.... maybe 20 titles or more in a row.... what league eh...

[cabbageandribs1875]

Don’t want him anywhere near ER


neither do i, BUT it would be pretty funny reading his twitter/whatever explaining how he was more than happy to come back to hibs as he really missed being around the place and that maybe ibrox wasn't as he expected

[JohnM1875]

Flo won't be back at Hibs regardless of the Hun situ. The guys thought he was better than us for a good while now.

[cabbageandribs1875]

Was it him that started the saying “ WE DONT DO WALKING AWAY”

i thought it was sally McCoist, just after he wanted to know the names(and addresses) of all those that had wronged sevco

[The 90+2]

Douglas Park will bail them out. He will get full control of the club.

[HoboHarry]

Douglas Park will bail them out. He will get full control of the club.

Doubt it. His business will suffer too in this mess....

[DetroitHibs]

Both Huns will get out of this more or less scott free, same as it always was.

[Steve20]

They’re in real trouble, there’s no doubt about that.

But the ‘Sevco’ thing has run its course. It was mildly amusing for about ten minutes, but 8 years later? They’re the Huns. Same with calling Hearts the Yams or worse, the Duncans.

[Hibs4185]

Douglas Park will bail them out. He will get full control of the club.

He’s probably already pumped in £10 million for some worthless shares. I can’t see him being prepared to pump I’m another £10 million to be in the same position again.

Some sort of admin event, clear the decks and start afresh with that new £10 million would be much better. It’s whether they want to swallow their pride and allow another admin event is the question.

[Waxy]

Both Huns will get out of this more or less scott free, same as it always was.

Normally yes.

[Ozyhibby]

He’s probably already pumped in £10 million for some worthless shares. I can’t see him being prepared to pump I’m another £10 million to be in the same position again.

Some sort of admin event, clear the decks and start afresh with that new £10 million would be much better. It’s whether they want to swallow their pride and allow another admin event is the question.

Only an admin event could get rid of Ashley. It is their best option and has been for some time now.


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[hibsforeurope]

Only an admin event could get rid of Ashley. It is their best option and has been for some time now.


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Ironically with his record of buying up failing companies he might gain full control.

[Ozyhibby]

Ironically with his record of buying up failing companies he might gain full control.

He’s going to have lots to choose from over the coming months.


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[lapsedhibee]

i thought it was sally McCoist, just after he wanted to know the names(and addresses) of all those that had wronged sevco

:agree:

[BoomtownHibees]

They’re in real trouble, there’s no doubt about that.

But the ‘Sevco’ thing has run its course. It was mildly amusing for about ten minutes, but 8 years later? They’re the Huns. Same with calling Hearts the Yams or worse, the Duncans.

It’s nothing similar at all

[jacomo]

They’re in real trouble, there’s no doubt about that.

But the ‘Sevco’ thing has run its course. It was mildly amusing for about ten minutes, but 8 years later? They’re the Huns. Same with calling Hearts the Yams or worse, the Duncans.


Cool, call them what you want.

I will continue to do so.

[Bostonhibby]

Cool, call them what you want.

I will continue to do so.Sevco it will always be for me, it was the first name the new boys chose when they appeared, so there's a bit of tradition as well which seems to be important down Ibrox way.

Huns is good as well, it's okay to have more than one name for them.

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[Eyrie]

Sevco it will always be for me, it was the first name the new boys chose when they appeared, so there's a bit of tradition as well which seems to be important down Ibrox way.

Huns is good as well, it's okay to have more than one name for them.

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I use Sevco for that particular club and Huns for the fan base they inherited from the former club.

[LancsHibs]

Douglas Park will bail them out.

Is that were The The Rangers will be playing next season?😁

[Bostonhibby]

I use Sevco for that particular club and Huns for the fan base they inherited from the former club.Works for me[emoji106]

They, and their acolytes seem to float between the past and the present when it suits, so why not?

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[jax67]

We could call them Shearts

Humbos?

[Bostonhibby]

Humbos?[emoji16]

Huncans?

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[Since90+2]

Cool, call them what you want.

I will continue to do so.

Sevco for me too. For the simple fact probably annoys their animal fans more than anything else.

[Pretty Boy]

I don't mind the whole Sevco thing most of the time.

There is nothing worse when you get a total twat in the pub though and the conversation goes something like this:

'What time is the Rangers game on?'

'Don't you mean THE Rangers?'

'whatever, what time?'

'Are you sure you didn't mean to say Sevco?'

**** off. It's quite funny as a throaway quip. When you start being a pedantic erse about it it's about as funny as toothache.

[Spike Mandela]

I don't mind the whole Sevco thing most of the time.

There is nothing worse when you get a total twat in the pub though and the conversation goes something like this:

'What time is the Rangers game on?'

'Don't you mean THE Rangers?'

'whatever, what time?'

'Are you sure you didn't mean to say Sevco?'

**** off. It's quite funny as a throaway quip. When you start being a pedantic erse about it it's about as funny as toothache.

If you tell a lie often enough, it becomes the truth.

[PatHead]

If you tell a lie often enough, it becomes the truth.

Yip. I flit between sevco, the new club and the the Rangers depending on the company. Bring up the Petrofac Cup too.

Love winding the the Huns up.

[Pretty Boy]

If you tell a lie often enough, it becomes the truth.

I just don't really care enough. It's a bit of fun winding them up at games but I don't have any Rangers supporting friends to wind up outside that setting.

For me the Rangers I hate now is to all intents and purposes the same institution I hated 10 and 20 years ago. Financial and business law doesn't really change that. Correcting people for not referring to them as The Rangers just seems a bit daft to me, particularly when there are no Rangers fans present. How does that 'wind them up'?

Let's be honest everyone treats Rangers as the same club by their actions and feelings towards them.

[Tomsk]

I just don't really care enough. It's a bit of fun winding them up at games but I don't have any Rangers supporting friends to wind up outside that setting.

For me the Rangers I hate now is to all intents and purposes the same institution I hated 10 and 20 years ago. Financial and business law doesn't really change that. Correcting people for not referring to them as The Rangers just seems a bit daft to me, particularly when there are no Rangers fans present. How does that 'wind them up'?

Let's be honest everyone treats Rangers as the same club by their actions and feelings towards them.


Whether we like it or not, in practice if not in law Rangers are the same club. Whenever I look I see a team playing in Rangers strips with Rangers badges and paraphernalia, called Rangers, playing at Ibrox, the home of Rangers, with their fans belting out the same old ditties like before. It looks like a hun, swims like a hun, quacks like a hun, etc.

What should have happened following Rangers' liquidation and what actually happened are two entirely separate things. Thank the SFA, Neil Doncaster, the Scottish media and the rest of Scottish football for making it all possible. Because we missed our chance. They did a number on us, and we're just going to have to eat it up.

I always think it's Scottish football's version of the last chapter in Animal Farm. We are the daft proles looking in through the window unable to discern the difference between the old pigs and the Sevco pigs.

[Spike Mandela]

Whether we like it or not, in practice if not in law Rangers are the same club. Whenever I look I see a team playing in Rangers strips with Rangers badges and paraphernalia, called Rangers, playing at Ibrox, the home of Rangers, with their fans belting out the same old ditties like before. It looks like a hun, swims like a hun, quacks like a hun, etc.

What should have happened following Rangers' liquidation and what actually happened are two entirely separate things. Thank the SFA, Neil Doncaster, the Scottish media and the rest of Scottish football for making it all possible. Because we missed our chance. They did a number on us, and we're just going to have to eat it up.

I always think it's Scottish football's version of the last chapter in Animal Farm. We are the daft proles looking in through the window unable to discern the difference between the old pigs and the Sevco pigs.

They’re not. You’re repeating the lie and perpetuating it.

[Centre Hawf]

I don't mind the Sevco or The Rangers patter as much as the next guy. And on here it's perfectly fine since it's a Hibs forum and we're talking about a bitter rival.

I think though when you see the folk on Twitter (usually with 1888 and a four leaf clover in their bios) who seem to spend their days only correcting people on it being The Rangers/Sevco/No Old Firm and replying to news stories about them with rage at the fact anyone could dare stop being arsed to talk about what happened 8 years ago and forgetting the whole world doesn't, and rightly shouldn't, revolve around their rivalry of awful point scoring.

[Since452]

Whether we like it or not, in practice if not in law Rangers are the same club. Whenever I look I see a team playing in Rangers strips with Rangers badges and paraphernalia, called Rangers, playing at Ibrox, the home of Rangers, with their fans belting out the same old ditties like before. It looks like a hun, swims like a hun, quacks like a hun, etc.

What should have happened following Rangers' liquidation and what actually happened are two entirely separate things. Thank the SFA, Neil Doncaster, the Scottish media and the rest of Scottish football for making it all possible. Because we missed our chance. They did a number on us, and we're just going to have to eat it up.

I always think it's Scottish football's version of the last chapter in Animal Farm. We are the daft proles looking in through the window unable to discern the difference between the old pigs and the Sevco pigs.

They're as much Rangers as Airdieonians are Airdieonians. They didn't get to keep their history. Wonder why the new Rangers did. To me Rangers are defunct.

[hibbyfraelibby]

So at the end of all this will they be the same club, a moderately new club, a shiney new club or just dead? Asking for millons of friends.😉

[Bostonhibby]

They're as much Rangers as Airdieonians are Airdieonians. They didn't get to keep their history. Wonder why the new Rangers did. To me Rangers are defunct.Agreed, for accuracies sake I often refer to the now defunct Glasgow rangers when anything relating to the history of the business that voluntarily liquidated itself arises.

It annoys the hell out of my Sevconian cousin as he's financially astute and gets the distinction.

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[Ozyhibby]

It’s pretty easy to tell the difference. The old Rangers used to win things now and again, the new Rangers have won the square root of f all.


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[bingo70]

It’s pretty easy to tell the difference. The old Rangers used to win things now and again, the new Rangers have won the square root of f all.


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Think you’re forgetting the Petrofac training cup

[Bostonhibby]

It’s pretty easy to tell the difference. The old Rangers used to win things now and again, the new Rangers have won the square root of f all.


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Agree, let's not over complicate things!

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[Keith_M]

If it looks like a Turd, and smells like a Turd...

[The 90+2]

Doubt it. His business will suffer too in this mess....

True 👍

[The 90+2]

Is that were The The Rangers will be playing next season?😁

:greengrin

[Sir David Gray]

It's Sevco for me, I've never called them Rangers since 2012.

Their fans always have been, and always will be, huns.

[lapsedhibee]

They're as much Rangers as Airdieonians are Airdieonians.

Liking that you've used creative spelling there to emphasise what happened to the old clubs. :top marks

[Since452]

Liking that you've used creative spelling there to emphasise what happened to the old clubs. :top marks

Oops

[Stonewall]

I'm wondering if King being cold shouldered meant he had to step down in order for Sevco to get any Government sponsored financial help?

That was my reaction although I wonder if King’s cold shouldering was making it difficult for Rangers to deal with other companies and financial institutions.

[LancsHibs]

Whether we like it or not, in practice if not in law Rangers are the same club. Whenever I look I see a team playing in Rangers strips with Rangers badges and paraphernalia, called Rangers, playing at Ibrox, the home of Rangers, with their fans belting out the same old ditties like before. It looks like a hun, swims like a hun, quacks like a hun, etc.

What should have happened following Rangers' liquidation and what actually happened are two entirely separate things. Thank the SFA, Neil Doncaster, the Scottish media and the rest of Scottish football for making it all possible. Because we missed our chance. They did a number on us, and we're just going to have to eat it up.

I always think it's Scottish football's version of the last chapter in Animal Farm. We are the daft proles looking in through the window unable to discern the difference between the old pigs and the Sevco pigs.

Great analogy. Well done sir👍