Sevco takeover confirmed

[Donegal Hibby]

That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/news/11788/13376632/rangers-takeover-andrew-cavenagh-and-49ers-enterprises-complete-takeover-of-scottish-premiership-club

[Real Emerald]

According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

[TrinityHFC]

That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/news/11788/13376632/rangers-takeover-andrew-cavenagh-and-49ers-enterprises-complete-takeover-of-scottish-premiership-club

Investing £20m into the club through a share issue. Not necessarily to the transfer budget.

[Shrekko]

That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/news/11788/13376632/rangers-takeover-andrew-cavenagh-and-49ers-enterprises-complete-takeover-of-scottish-premiership-club

They're promising to 'invest' £20 million in the club. Doesn't say how it's being used.

[Mon Dieu4]

I'm sure Celtc are ****ing themselves, did they not have something like £75m just sat in the bank when their last results came out?

[Donegal Hibby]

According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

I didn’t see that just read that the vast majority of the £20m was to be used on getting new players in , still don’t think it will be enough to challenge the other lot especially as they can spend double that if they want too .

[Bristolhibby]

Not good news for us, however you spin it.

J

[matty_f]

It’ll be interesting to see what Celtic do. They’re notorious for resting in their laurels and only spending what they need to, so I wouldn’t be surprised to see them get caught out next season.
They’ll then appease the fans by spending big the next season.

[evy]

According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

Bought current shares for £75 mil from Dave King etc, then there'll be a new share issue in 3 weeks for the £20mil. Not a massive cash injection that will see them beat Celtic to the league next year, but will stop them going bust in the foreseeable and possibly allow them to buy better players to then sell-on etc

[Shrekko]

I didn’t see that just read that the vast majority of the £20m was to be used on getting new players in

Where did you read that? It's not in any of the numerous 'newsflash' articles.

[Hibby Kay-Yay]

So double what Hearts got, and it doesn’t sound like it comes with a Commodore64 either.

[Posh Swanny]

Not good news for us, however you spin it.

J

Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

[EGL2000]

Be interesting to see if they can take a step up and start spending more on players. Not great news for us however you look at it.

[CropleyWasGod]

Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

It's different because it is different.

The 49ers part of the consortium are taking no more than 25% of the club, similar to BKFC. The other partner (the Cavenagh part) have more than that.

Together, it's a 51% stake.

( to be cut and pasted every time this comes up :greengrin)

[TrinityHFC]

Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

They don’t have a majority ownership in common with another club though. It is a consortium.

[Real Emerald]

Bought current shares for £75 mil from Dave King etc, then there'll be a new share issue in 3 weeks for the £20mil. Not a massive cash injection that will see them beat Celtic to the league next year, but will stop them going bust in the foreseeable and possibly allow them to buy better players to then sell-on etc

£20m by means of a share issue isn’t really the massive cash injection they were expecting. They’ll definitely be in for Shankland again now as he’ll cost them nothing. 😂

[Posh Swanny]

It's different because it is different.

The 49ers part of the consortium are taking no more than 25% of the club, similar to BKFC. The other partner (the Cavenagh part) have more than that.

Together, it's a 51% stake.

( to be cut and pasted every time this comes up :greengrin)

Got it.

[Donegal Hibby]

Where did you read that? It's not in any of the numerous 'newsflash' articles.

I can’t find it now though did read that there was £20m and the vast majority of it was going on new players . Different article than I previously read stating it’s going on the footballing side of the club ….

https://www.irishexaminer.com/sport/soccer/arid-41642380.html

[HoboHarry]

The Daily Record reading section of the Sevco support will be thrilled, any others with a reading comprehension greater than that of a 14 year old will see that this doesn't amount to a whole lot in the large scheme of things.

[Thatdayinmay16]

Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

I think there was talks at the time of the investment by BKFC that if they wanted to acquire a majority stake the SFA would look at relaxing the rules, no idea if BKFC will ever acquire a majority stake however.

[Shrekko]

I can’t find it now though did read that there was £20m and the vast majority of it was going on new players . Different article than I previously read stating it’s going on the footballing side of the club ….

https://www.irishexaminer.com/sport/soccer/arid-41642380.html

Fair enough, but that article is at odds with the actual quote in the new owners 'open letter' to their fans saying '"As our first step, we are investing fresh capital into Rangers, which will be strategically deployed on and off the pitch...'

Their fans must be a bit underwhelmed.

[Centre Hawf]

It's £20m they didn't have yesterday so already they're in a better place than they were in before this.

Beating Celtic isn't a million miles away for them in reality. Celtic wobbling would be beneficial of course but in reality the first thing they have to do is just get a competent group together to consistently beat the rest of us. They lost 6 games against the rest this season and if they can flip even 3 of them and a couple of their 8 draws against folk that weren't Celtic all of a sudden that league title race goes into the 90 point region.

[Since452]

It won't change much. Rangers will pull away slightly from Hibs but still be miles behind Celtic.

[tamig]

It's different because it is different.

The 49ers part of the consortium are taking no more than 25% of the club, similar to BKFC. The other partner (the Cavenagh part) have more than that.

Together, it's a 51% stake.

( to be cut and pasted every time this comes up :greengrin)

I think you’ve cut and pasted it countless times since the story first emerged!

[Billy Whizz]

That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/news/11788/13376632/rangers-takeover-andrew-cavenagh-and-49ers-enterprises-complete-takeover-of-scottish-premiership-club

It’s new shares they are issuing to raise £20m

[erin go bragh]

20m😬 Unfortunately the figure they are meant to be receiving from the 49's is 190m minimum as previously reported.

[HoboHarry]

20m😬 Unfortunately the figure they are meant to be receiving from the 49's is 190m minimum as previously reported.
Reported by half wit journalists trying to sell newspapers to half wit Sevco fans maybe. I posted this link to Phil Mac before but if it's accurate then it's a good insight into who the main players are and they are certainly not off the radar wealthy. More disappointment incoming for all who sail on HMS Sevco.

[Real Emerald]

It’s new shares they are issuing to raise £20m

I may be oversimplifying this in my mind but it looks like the previous owners pocket £75m and the investment of £20m is coming from a share issue bought by who knows who (the fans)? Something that could have been done without a takeover? Or am I missing something?

[NAE NOOKIE]

Whatever the ins and outs Sevco are in a better position than they were yesterday. If this lot own the San Francisco 49rs then they are obviously minted ............ billionaires own NFL franchises, not millionaires ...... so who knows what they will be prepared to chuck at this in the long run.

What pisses me off is that none of these people can sit down and see the value in investing in a club who might be able to challenge the status quo, rather than enabling one of a cabal who have all but monopolised Scottish football for over a century to keep that monopoly going.
Especially when these same people own a club in a sports league that is specifically engineered to ensure a situation such as we have in this country can't happen. I wonder how many folk would be watching the NFL if only the Cowboys and 49ers had won the superbowl in the last 40 plus years.

I wonder what research they have done into the social aspect that inspired them to sink millions into a club fined by UEFA for bigoted behaviour in the past and has had other clubs in the same league cutting their ticket allocation as a reaction to the sectarian bile spewing from the away end whenever they visit.

If Aberdeen winning the cup last week was bad for Hibs, but good for Scottish football. Then this investment is good for Sevco and a bloody disaster for the rest of us.

I love the NFL but don't particularly dislike any team ( perhaps the Cowboys ) now at least I can hate the 49ers whenever they play. Oh and the Buccaneers because their owners have totally destroyed my brothers club :greengrin

[Billy Whizz]

I may be oversimplifying this in my mind but it looks like the previous owners pocket £75m and the investment of £20m is coming from a share issue bought by who knows who (the fans)? Something that could have been done without a takeover? Or am I missing something?


Don’t know the 1st bit, but BBC reporting the below. Maybe the shareholders didn’t want to buy any more shares

“The club says £20m of new investment will be made available in the summer following a share issue.”

[Centre Hawf]

Reported by half wit journalists trying to sell newspapers to half wit Sevco fans maybe. I posted this link to Phil Mac before but if it's accurate then it's a good insight into who the main players are and they are certainly not off the radar wealthy. More disappointment incoming for all who sail on HMS Sevco.

He's admittedly not a half wit journalist, just a half wit.

[Betty Boop]

He's admittedly not a half wit journalist, just a half wit.

A half wit Celtic apologist

[monarch]

He's admittedly not a half wit journalist, just a half wit.
He may be a one trick pony as far as promoting Celtic and ravaging Rangers is concerned but he does get facts unpalatable to Sevco followers out into the open far ahead of the “censored” mainstream media. Not a difficult task I admit.

He’s done this ever since the “succulent lamb” days of David Murray.

[Billy Whizz]

He may be a one trick pony as far as promoting Celtic and ravaging Rangers is concerned but he does get facts unpalatable to Sevco followers out into the open far ahead of the “censored” mainstream media. Not a difficult task I admit.

He’s done this ever since the “succulent lamb” days of David Murray.

What is he saying

[Smartie]

I confidently predict that this will end in tears for them.

Celtic are in a slightly vulnerable position in that their team is at “one of those points” in the life cycle of a team but they’ve got pots of cash with which to improve.

Celtic will win 10 in a row, Rangers will be in trouble the next time they have an underwhelming Euro campaign, their support will fall away as they realise Scottish football becomes a 1 horse race and they’ll be deid again within a decade.

This will not have the impact that the hordes need and want it to.

[HoboHarry]

He may be a one trick pony as far as promoting Celtic and ravaging Rangers is concerned but he does get facts unpalatable to Sevco followers out into the open far ahead of the “censored” mainstream media. Not a difficult task I admit.

He’s done this ever since the “succulent lamb” days of David Murray.
Exactly right. there isn't another journalist in Scotland gets even close to him in terms of publishing accurate information regarding Sevco, his allegiances are irrelevant if he is consistently publishing material that's accurate or at least has a basis in fact. For others to call him an apologist when he is up against Daily Record and Sun journalists is pretty much laughable.

[Donegal Hibby]

Fair enough, but that article is at odds with the actual quote in the new owners 'open letter' to their fans saying '"As our first step, we are investing fresh capital into Rangers, which will be strategically deployed on and off the pitch...'

Their fans must be a bit underwhelmed.

Their fans are actually getting carried away by it all in they think it’s just the start , supposedly meant to have held talks with Francesco Farioli about becoming manager but with this takeover Thomas Franks been mentioned on their forum who they’d like instead 😆

[Bristolhibby]

Whatever the ins and outs Sevco are in a better position than they were yesterday. If this lot own the San Francisco 49rs then they are obviously minted ............ billionaires own NFL franchises, not millionaires ...... so who knows what they will be prepared to chuck at this in the long run.

What pisses me off is that none of these people can sit down and see the value in investing in a club who might be able to challenge the status quo, rather than enabling one of a cabal who have all but monopolised Scottish football for over a century to keep that monopoly going.
Especially when these same people own a club in a sports league that is specifically engineered to ensure a situation such as we have in this country can't happen. I wonder how many folk would be watching the NFL if only the Cowboys and 49ers had won the superbowl in the last 40 plus years.

I wonder what research they have done into the social aspect that inspired them to sink millions into a club fined by UEFA for bigoted behaviour in the past and has had other clubs in the same league cutting their ticket allocation as a reaction to the sectarian bile spewing from the away end whenever they visit.

If Aberdeen winning the cup last week was bad for Hibs, but good for Scottish football. Then this investment is good for Sevco and a bloody disaster for the rest of us.

I love the NFL but don't particularly dislike any team ( perhaps the Cowboys ) now at least I can hate the 49ers whenever they play. Oh and the Buccaneers because their owners have totally destroyed my brothers club :greengrin

Less risky no? Will get a very good return on investment due to the dafty Hun fan base.

Why take the risk on Hibs?

I agree with the sentiment though. It would be an easy one to get results.

J

[hibsbollah]

Whatever the ins and outs Sevco are in a better position than they were yesterday. If this lot own the San Francisco 49rs then they are obviously minted ............ billionaires own NFL franchises, not millionaires ...... so who knows what they will be prepared to chuck at this in the long run.

What pisses me off is that none of these people can sit down and see the value in investing in a club who might be able to challenge the status quo, rather than enabling one of a cabal who have all but monopolised Scottish football for over a century to keep that monopoly going.
Especially when these same people own a club in a sports league that is specifically engineered to ensure a situation such as we have in this country can't happen. I wonder how many folk would be watching the NFL if only the Cowboys and 49ers had won the superbowl in the last 40 plus years.

I wonder what research they have done into the social aspect that inspired them to sink millions into a club fined by UEFA for bigoted behaviour in the past and has had other clubs in the same league cutting their ticket allocation as a reaction to the sectarian bile spewing from the away end whenever they visit.

If Aberdeen winning the cup last week was bad for Hibs, but good for Scottish football. Then this investment is good for Sevco and a bloody disaster for the rest of us.

I love the NFL but don't particularly dislike any team ( perhaps the Cowboys ) now at least I can hate the 49ers whenever they play. Oh and the Buccaneers because their owners have totally destroyed my brothers club :greengrin

As a Seahawks fan, hating the 49ers was always second nature for me. Now even more so.

[007]

According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

It's £19,999,999 more than Craig Whyte paid for the old Rangers. 😃

[Jock O]

Bought current shares for £75 mil from Dave King etc, then there'll be a new share issue in 3 weeks for the £20mil. Not a massive cash injection that will see them beat Celtic to the league next year, but will stop them going bust in the foreseeable and possibly allow them to buy better players to then sell-on etc

So Dave King finally walks away with a huge payoff, he has been trying for long enough. That seems a huge amount for a club with high debts, unless the directors are writing off the loans, again, after getting their shares paid off.

Either way they have probably spent £20 m in wages and transfers last few seasons, so it is the recruitment that now needs to vastly improve. Not really sure they will be that much better off.

However it is no surprise, these guys will have an eye on the medium term game, and assume they will be looking to start up a better player trading model, will just be interesting to see who runs that is it is clear current club structure does not have anything worthy at moment.

TBF over a long term, Rangers should create a big return on investment, its just going to be interesting on how they use it.

[CropleyWasGod]

I think you’ve cut and pasted it countless times since the story first emerged!

So glad someone reads my **** :greengrin

[gbhibby]

Good of them to cover last year's loss then.

[SaulGoodman]

An investment which won’t get them near Celtic but will help them pull away from 3rd.

What an exciting league.

Just get both the ***** punted into the English leagues where they desperately want to be.

[Eyrie]

I love the NFL but don't particularly dislike any team ( perhaps the Cowboys ) now at least I can hate the 49ers whenever they play. Oh and the Buccaneers because their owners have totally destroyed my brothers club :greengrin

As an Eagles fan, I can confirm hating the Cowboys is normal behaviour.

No time for the 49ers after they whined about an injury caused when they used a back up TE to block Reddick and Purdy got injured.

[HoboHarry]

Their fans are actually getting carried away by it all in they think it’s just the start , supposedly meant to have held talks with Francesco Farioli about becoming manager but with this takeover Thomas Franks been mentioned on their forum who they’d like instead 😆
Evidently delusion doesn't have a ceiling in the Sevco Big Hoose..... :faf::faf:

[Fifeshirehibs]

Wow, is that all sang the fat lady. The fat bloke with his tag on his arm that insisted The Big Hoose must stay open will be raging at only 20m.Its good of Sevco to acknowledge their roots with the founding name on the back o the strips but why have they spelt it wi a K ? 20m only 20m , watch out 49ers , Fat bloke will be rounding up his possee if that's all the buck yeve got, bang bang.

[Keith_M]

I understand that, as a tribute to their new owners, they're replacing the old badge with this one.



28847

[Scooter]

Are they having to improve infrastructure for the local community as well? I'm pretty sure that was a condition of the BK buys a stake in hibs

[Unseen work]

According to transfermkt, rangers spent

5 million on Diomonde
3.6 million on Bajrami
3.2 million on Propper
2.3 million on Igamane
800k on Jefte

Last summer. Now I don’t imagine those figures are entirely accurate - however, they still spent a good chunk of money on player who are overall poor.

Year before that

6.3 million on Danilo
5 million on Dessers
4.1 million on Lammers
1.4 million on Cifuentes

To add to the above they have a 4 million obligation to buy on Cortes. A guy they’ve had on loan who has been injured the vast majority of the time and when played not impressed.

The issue for them is not just the money, it’s identifying good players.

[HoboHarry]

According to transfermkt, rangers spent

5 million on Diomonde
3.6 million on Bajrami
3.2 million on Propper
2.3 million on Igamane
800k on Jefte

Last summer. Now I don’t imagine those figures are entirely accurate - however, they still spent a good chunk of money on player who are overall poor.

Year before that

6.3 million on Danilo
5 million on Dessers
4.1 million on Lammers
1.4 million on Cifuentes

To add to the above they have a 4 million obligation to buy on Cortes. A guy they’ve had on loan who has been injured the vast majority of the time and when played not impressed.

The issue for them is not just the money, it’s identifying good players.

Not entirely accurate is putting it mildly, out and out fantasy is more like it.

[PatHead]

Wonder if their second strip will now be papal gold rather than orange?

[Greenbeard]

Whatever the ins and outs Sevco are in a better position than they were yesterday. If this lot own the San Francisco 49rs then they are obviously minted ............ billionaires own NFL franchises, not millionaires ...... so who knows what they will be prepared to chuck at this in the long run.

What pisses me off is that none of these people can sit down and see the value in investing in a club who might be able to challenge the status quo, rather than enabling one of a cabal who have all but monopolised Scottish football for over a century to keep that monopoly going.
Especially when these same people own a club in a sports league that is specifically engineered to ensure a situation such as we have in this country can't happen. I wonder how many folk would be watching the NFL if only the Cowboys and 49ers had won the superbowl in the last 40 plus years.

I wonder what research they have done into the social aspect that inspired them to sink millions into a club fined by UEFA for bigoted behaviour in the past and has had other clubs in the same league cutting their ticket allocation as a reaction to the sectarian bile spewing from the away end whenever they visit.

If Aberdeen winning the cup last week was bad for Hibs, but good for Scottish football. Then this investment is good for Sevco and a bloody disaster for the rest of us.

I love the NFL but don't particularly dislike any team ( perhaps the Cowboys ) now at least I can hate the 49ers whenever they play. Oh and the Buccaneers because their owners have totally destroyed my brothers club :greengrin
Nail. Head. And more. How to alienate yourself from 90% of football fans in Scotland. But it just goes to show how little is known about the most despicable club/fans in football - all because their behaviour is swept under the authorities **** pile. (Edit: so a luxury carpet hits the swear filter! Ha ha.)

[HUTCHYHIBBY]

It won't change much. Rangers will pull away slightly from Hibs but still be miles behind Celtic.

That's how I see it too, invest £20m to finish 2nd, nothing changes.

[Spike Mandela]

Whilst this investment at Rangers and Bloom's at Hearts will inevitably get all the publicity going forward from a fawning press we shouldn't lose sight of what is happening at Hibs.

We are ahead of the game. We have the foundations of a really good team already in place and I'm really excited to see the impact of proper Black Knights involvement in the summer transfer window.

[My old man]

Whilst this investment at Rangers and Bloom's at Hearts will inevitably get all the publicity going forward from a fawning press we shouldn't lose sight of what is happening at Hibs.

We are ahead of the game. We have the foundations of a really good team already in place and I'm really excited to see the impact of proper Black Knights involvement in the summer transfer window.

My sentiments exactly hopefully they can pull a rabbit out the hat in regards to Nectar GG2TH

[Bostonhibby]

So they're now part of a Kafflik dynasty and all they got was a bit of a share issue and some promises that sound pretty good?

No surrender[emoji16]

Sent from my SM-A750FN using Tapatalk

[Bridge hibs]

I see the new company are going for a name change and removing the The from the company name as well as changing the frontage to the stadium, looks different I must say 28853

[Keith_M]

Wonder if their second strip will now be papal gold rather than orange?


Nah, just a slight variation on their previous second strip.


28854

[Carheenlea]

He may be a one trick pony as far as promoting Celtic and ravaging Rangers is concerned but he does get facts unpalatable to Sevco followers out into the open far ahead of the “censored” mainstream media. Not a difficult task I admit.

He’s done this ever since the “succulent lamb” days of David Murray.

He claims to be a “journalist”, but all I’ve ever read from him is of a Celtic fan who appears to care more about what Rangers are up to.

Just comes across as a slaver. One of those annoying guys in the pub who has too much to say for himself as a so called expert in too many topics.

Best ignored.

[monarch]

He claims to be a “journalist”, but all I’ve ever read from him is of a Celtic fan who appears to care more about what Rangers are up to.

Just comes across as a slaver. One of those annoying guys in the pub who has too much to say for himself as a so called expert in too many topics.

Best ignored.
He’s based in the Republic and writes for Irish newspapers and magazines.

If you’d rather lap up the Sevco PR stuff dished out by the Daily Record then fair enough.

[Onion]

Have full confidence Sevco will piss away this £20M just as they have so many millions over past few years. There's something deeply flawed at Hunbrox, just as there is at the PBS where literally no amount of money will materially affect the product on the park. Huns have lost their way and all the 49rs money will do is secure their place as the best of there also rans in Scotland.