I’m sure they turned down money for Windass, which makes me think they’re not struggling as much as is being suggested.Quote:
Originally Posted by allezsauzee
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I’m sure they turned down money for Windass, which makes me think they’re not struggling as much as is being suggested.Quote:
Originally Posted by allezsauzee
:yawn2::hmmm:Quote:
Originally Posted by CropleyWasGod
Whats wrong with your sense of humour - CWG is alright.......Quote:
Originally Posted by Hibrandenburg
Bookies these days you’d be lucky to get 50p on a 5000-1 chance!Quote:
Originally Posted by macca70
Bit of a private joke mate. Would take too long to explain.Quote:
Originally Posted by HoboHarry
All the speculation about admin. at the Big Hoose.
Could there be a connection to King's apparent refusal to make the offer to shareholders as instructed. I dare say a real " cold shouldering " by all companies governed by the FSA would make trading almost impossible.
When's the deadline for the offer ?
Can’t see them doing a cake sale!!Quote:
Originally Posted by Greencore
Hot cross hunsQuote:
Originally Posted by Colr
Really can’t see these rumours being true, no way they will go into admin again
Because?????Quote:
Originally Posted by Keyser Sauzee
German BiscuitsQuote:
Originally Posted by WoreTheGreen
Just don’t think they will, sorryQuote:
Originally Posted by HoboHarry
Did they ever launch a commemorative video for this one?Quote:
Originally Posted by Carheenlea
The team that died but came back as another team and won the cup that no one has ever heard of or wanted to win.
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Battle of the bun £16.90 it gets 5 starsQuote:
Originally Posted by greenlex
So says Traynor. They're desperately trying to offload Pena etc but no one's going to pay Sevco 20k a week for him or the other wasters. They don't want to sell Morelos, Windass or Candeias but 1st decent offer & they're off. It's also significant they didn't try to hijack the Walker deal. A year ago they were openly talking about signing Walker for far more than his current transfer fee. Of course the fact that every Scottish club now wants transfer money up front from Sevco may also play a part!!Quote:
Originally Posted by lord bunberry
They admitted in their accounts that they need to make the Europa League group stages next season to break even.
They probably assumed they'd finish no lower than 2nd this season but it's not been plain sailing so far. They've got a rookie as gaffer.
The owners have huge egos but how long can they continue to pump in cash?
Sevco are running on fumes. They are desperately trying to reduce the wage bill any way they can, they have their u20 manager in charge and their largest shareholder has two weeks to pony up £11m to find a share offer. Right now I can’t see them avoiding administration.
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:hyper here we go againQuote:
Originally Posted by Ozyhibby
Amazing how not even a mention of this on BBC,or the Daily Rangers(They are too busy talking about the Huns buying Russell,)
Id love them to go bankrupt again...as learnt absolutely nothing from the last clubs death.
It seemed no-one learned any lessons.Quote:
Originally Posted by Ryan69
If they go as far as liquidation again I'd expect the authorities to make the same mistakes or even worse!
I'm Sure they were about to buy Grant Holt from Norwich for £1m plus days before they went belly up the last time. Maybe a bit of symmetry here...Quote:
Originally Posted by Ryan69
I so hope this is true, absolutely brilliant if they go under again!
Is this really all based on a tweet from oddschecker?
Problem is that the game is so corrupt here.Quote:
Originally Posted by Jack
And has been for decades.
I still cant understand how with the money they have used to get to SPL and the position they are in....They gain a license from UEFA to play in Europe!
Inregard to Financial Fair Play rules.
Pena is away on loan to Mexico and the club he has signed for are paying his full wagesQuote:
Originally Posted by brog
They didn't appoint new Manager ,but have recently brought in an assistant They are still bringing players in
While their clearly are ongoing cash flow issues ,they always seem to find a way through these despite all the predictions of their demise
Unless Civil War breaks out in their Boardroom ,they will reluctantly work their way through this and at some point King will exit left, and someone else will take them forward to challenge Celtic But thats another few years down the line
The calibre of signings may not be enough to progress in Europe next Season and will wait till Transfer Window closes as then we will have a clearer indication of how difficult things are
Europe isKey King ,knows that and a Rookie Manager is unlikely to get them through the Qualifying rounds
King has hinted that the Summer will see the Main overhaul of the Squad ,and i assume a new Manager
But its a big ask to see them to well in Europe
If they go out the Scottish Cup early ,and find themselves slipping down the League ,to fourth ,the pressure will be on them
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Yes and no. Yes it’s fuelled speculation but we also know from their accounts that they need a significant amount of money this month (and £7m over next 18 months) from NOAL to keep the lights on. It appears that money has not arrived yet and the takeover panel has just ordered NOAL to fund a share offer to the tune of £11m. Until it’s confirmed that NOAL or one of the other directors has come up with this money then there will be speculation.Quote:
Originally Posted by underscore
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It's all wishful thinking.
Cruz Azul ...... and new manager, Pedro Caixinha.Quote:
Originally Posted by Ronniekirk
Yea knew it wasPedro No one else would have taken him in all likely hoodQuote:
Originally Posted by Jim44
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I very much doubt if Pena's wages are being paid in full. Last I heard the offer from Mexico was 50%. It helps The Rangers but still leaves them paying approx, £500k a year to Pena, by coincidence, the amount they offered to pay for Jamie Murphy in June. This where Der Hun has come unstuck. They can rely on their friends in Scotland not to rock the boat but their dealings with Brighton have made them a laughing stock in England. That word has spread quickly & I suspect that's what's really driving the current admin talk. Whether that will happen I have no idea but there's no doubt they're in serious financial trouble.Quote:
Originally Posted by Ronniekirk
I remember all the same chat through 2011. Let’s hope it’s wrong again.Quote:
Originally Posted by Betty Boop
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Quote:
Originally Posted by Ronniekirk
I hear there was a picture of Pena walking across a car park blowing his nose with a pair of The Rangers shorts (either that or he was sniffing them)
How to respect the club that you are still employed by.
The tweet from Oddschecker was 16 hours ago.
Still no denial from Sevco.
This is a club that managed to release a statement, minutes after the pitch invasion at Hampden.
Can’t see that the failure to make the share offer makes any difference.If King doesn’t do it I suspect there is no way of forcing him and nobody else least of all the club is in any way liable.Quote:
Originally Posted by Ozyhibby
......and every hour since at statement O’clock..😎Quote:
Originally Posted by Winston Ingram
Bets were placed on them finishing bottom or being relegated. 5000/1 was cut to 500/1 then suspended, must've been a slow news day. Even if they get a 15 points deduction and lose players they'd probably finish higher than 11th, if they got liquidated and newco admitted to bottom division bookies keep money.Quote:
Originally Posted by Winston Ingram
We know they have very little cash. They couldn't fund McInnes' compo, they have taken Murphy on loan because they couldn't stump up an initial instalment. The accounts said they needed £Ms more in directors' loans and that this time they would come from King/NOAL but since then King/NOAL are on the hook to fund a share offer. So I guess it depends on the other directors, are the 3 bears etc willing to put in yet more cash? They might just decide that King has been more trouble than he's worth and they can clear the decks and carry on without him?Quote:
Originally Posted by Ozyhibby
The problem is the club need money and if King is cold shouldered then they can’t have the share issue they say they need to provide working capital.Quote:
Originally Posted by ancient hibee
The 3 bears appear to be tapped out and King could soon be barred from dealing with any FCA regulated company.
It costs about £2.5m a month to run Sevco and season tickets sales are at least 3 months away.
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It’s no longer just a matter of cold shouldering, King will be in contempt of court. Could be fined, but he’s already said he’s got no money, or it could be jail time.Quote:
Originally Posted by ancient hibee
https://philmacgiollabhain.ie/2018/0...ting-on-sevco/
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Or it could be appointing a Trustee or the likes to force him to pay. Part of the issue here is that the TP haven't been here too often, and there's little precedent.Quote:
Originally Posted by Brunswickbill
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The two previous cases that I could find they went straight to cold shoulder without asking a court to enforce the order. Not sure why they have went a different route here. Also in the other two cases they penalised all the members of the concert party. Again, they have gone a different route here.Quote:
Originally Posted by CropleyWasGod
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Latest piece from Phil Mac
https://philmacgiollabhain.ie/2018/0...-row-at-sevco/
One wonders how big the "pro King faction" is.Quote:
Originally Posted by HoboHarry
Is it sufficient to block a CVA? [emoji848]
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Pena back in Mexico wiping his nose with a pair of Sevco shorts :faf:
Attachment 20007
In other words, if NOAL doesn’t come up with the cash, this is the only option.Quote:
Originally Posted by CropleyWasGod
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Anybody see the BBC Scotland investigates program last night about the unscrupulous millionaire bankrupts?
Absolutely enforces the notion that administration is just an absolute scam for those unscrupulous types to ditch their debt whilst hiding their assets. The insolvency practitioners are so under resourced they rely almost entirely on these debtors being honest with the receivers.
An administration at Rangers will be choreographed perfectly to ditch their high earners, give a small p in the pound payment to their creditors, give a hefty wedge to the insolvency practitioners of choice and save all their assets in a nice little bundle and off they go again with a new chancer at the helm
The murky swamp of high finance, bankruptcy and football clubs is corrupt as ****.
I smell S---Quote:
Originally Posted by HoboHarry
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For those of us not paying sufficient attention - is the debt mostly in RIFC plc or Sevco Ltd itself? Which entity is actually likely to go into admin? And if it's RIFC plc, will they actually try and save it or just sell Sevco ltd on to another holding co?
Do you mean they owe it to themselves?
Now, where have I heard that before?........................................... .........................
It’s not the debt that’s the problem it’s cash flow. They have run out of cash and need to borrow more. They could have zero existing debt and still go into admin if the money runs out.
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Is that your comment on the photo or a caption for it? :dunno: :wink:Quote:
Originally Posted by Ronniekirk
The game is not corrupt. A fair sprinkling of incompetents yes, but not corruptQuote:
Originally Posted by Ryan69
Na I think it's totally corrupt in favour of the so called establishment clubsQuote:
Originally Posted by Skol
What is the evidence of corruption ?Quote:
Originally Posted by Stuart93
Were rangers allowed to re-form and retain their place ? OK the rules were bent, but lets be honest while we enjoyed the fall we also want to see rangers back in the top flight, but maybe not winning
What about Celtic, did they get corruption in their favour when the Jorge Cadete registration was botched.
Yes they get the better of decisions, but its not corruption
:faint:Quote:
Originally Posted by Skol
It absolutely is corruption when the SFA can call the registrations of the those with side letters "imperfect but eligible". That was a decision taken in the light of day and I can't personally think of any other occasion in sport when cheating of that magnitude has been allowed to go unpunished. Rotten to the core.Quote:
Originally Posted by Skol
It was indeed corruption when Cadette’s registration was deliberately delayed (botched [emoji23]) and Celtic has to go to court over it and it cost the head of the SFA his job.Quote:
Originally Posted by Skol
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https://m.soundcloud.com/hibstalk/fanreps1
Here’s Frank and Tracey explaining why they wanted to move on.
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Sorry mate but I never wanted to see them back! Complete farce and corruption akin to an Machiavellian plot! My only regret is that, our club allowed the corruption to persist.Quote:
Originally Posted by Skol
Deliberately concealing a dual contract system for ten years from the SFA is not corruption? Falsifying statements in order to achieve a uefa licence is not corruption?Quote:
Originally Posted by Skol
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Cheating by Rangers, but not signs of corruption by the SFAQuote:
Originally Posted by Ozyhibby
The claim was corruption against the big 2.Quote:
Originally Posted by Ozyhibby
Once they found out about it the SFA turned a blind eye to it. They have never ruled on it at all. That’s corruption.Quote:
Originally Posted by Skol
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Of course there was - Sandy Bryson's "imperfect but eligible" was ok? Seriously?Quote:
Originally Posted by Skol
1. Rigging an enquiry (Nimmo-Smith)Quote:
Originally Posted by Skol
2. Granting a UEFA licence to Rangers in 2012.
3. Granting a UEFA licence to Rangers in 2017.
While there is no openness or transparency in the way they make their decisions there will always be a shadow of doubt cast over this sleazy wee cabal.Quote:
Originally Posted by Skol
Quote:
Originally Posted by Ozyhibby
Nah, that's cheating.
Sweeping it under the carpet and giving Rangers / the Rangers preferential treatment to every other club is corruption.
Its Reeking of it [emoji849]Quote:
Originally Posted by snooky
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It's a much longer list than that. Add in ...Quote:
Originally Posted by Stonewall
4. A transfer embargo that only applies between transfer windows. :rolleyes:
5. Trying to shoehorn New Rangers into the premier.
6. Trying to shoehorn New Rangers into the first division while threatening lower league clubs with armageddon.
7. Signing up to a secret 5 way agreement with Old and New Rangers.
8. Pretending New Rangers are Old Rangers.
9. Allowing competition winners to stand even though the winners have been found guilty of improper registration.
10. Allowing a convicted tax evader to be considered "fit and proper".
I'm sure there are many, many more examples. :rolleyes:
The only good thing Potter has done in his life so far:Quote:
Originally Posted by JeMeSouviens
https://www.youtube.com/watch?v=rlFpHriMd8A
I'd forgotten about that, absolutely disgraceful.Quote:
Originally Posted by lapsedhibee
I know, I just couldn't be bothered trawling my brain for other examples for a poster who I thought was either on the wind up or wasn't going to listen to the answers anyway.Quote:
Originally Posted by JeMeSouviens
The Hun 'won' titles/cups with players they couldn't afford - Guilty.
The SFA KNEW this and yet, to date, have refused to even looking at stripping/voiding these tainted-titles - Guilty.
Lots of other things as well but be in no doubt - CORRUPTION - not only exists in our game but it thrives and prospers !. Until there's a complete and thorough purge of the SFA, nothing will change !
Dave King deemed fit and proper, if thats not corrupt what is?
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The burying of Jorge Cadete's paperwork in order to ensue he missed the old firm game is the absolute epitome of corruption. Farry lied about it then had to resign. Should have been prosecuted. If that's not corruption in action then what is?
https://philmacgiollabhain.ie/2018/0...ning-at-sevco/
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That "OPM of the masses" line is brilliant. Very clever....... :faf:Quote:
Originally Posted by Ozyhibby
Quote:
Originally Posted by Ozyhibby
Seen this guys columns a few times now don't know much about him,also far from being a financial wizard,he makes a valid point about a business relaying on loans very 6/12 months isn't a good way to go,eventually someone will want/need their money back or they will run out of people to ask. I can only see it going one way which is admin again,I can't wait 😊
The thing that doesn't ring true with me is the bit about RFC trying to get "invoice financing". Businesses like theirs are generally cash-based, whereas those who use IF are credit-based.Quote:
Originally Posted by Ozyhibby
Unless, of course, they're trying to get an advance on ST sales. Now, that would be a good plan..... :greengrin
I think in one of his earlier pieces he indicated it was up front financing based on anticipated additional player fees when players exceeded a set number of games they'd played. But now that I've typed it out, it sounds daft.Quote:
Originally Posted by CropleyWasGod
Found it https://philmacgiollabhain.ie/2017/1...ing-for-sevco/
Apparently they were looking for people to advance them money until the future payments came in for Garner, Waghorn etc. As these payments are not guaranteed though as they are based on appearances, goals etc they were told to bolt.Quote:
Originally Posted by CropleyWasGod
All allegedly.
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It sounds daft because it was which is why they were given nowt.Quote:
Originally Posted by grunt
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Quote:
Originally Posted by grunt
Cheers, that makes sense. Well, as much sense as it would to a drowning man....Quote:
Originally Posted by Ozyhibby
While your here[emoji3], if they do go into admin, would the 3 bears, NOAL etc count as connected creditors and therefore be excluded from any CVA vote?Quote:
Originally Posted by CropleyWasGod
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I think they should be, however.... see also the Hearts situation, where BJ saw fit to allow the bank to have a vote in the CVA.Quote:
Originally Posted by Ozyhibby
I know what you're thinking... :wink:... if they are excluded, step forward Mr Hector. Again.
That's what the plan was under the Craig Whyte regime - use credit secured against future ST revenue to keep the team afloat until HMRC ruled in their favour. If they didn't, no loss to Whyte, it was gambling with the creditor's money...Quote:
Originally Posted by CropleyWasGod
Anyways, borrowing against future ST sales is a standard way of financing sports clubs and is usually a pretty safe bet for the lenders - but clearly Rangers don't have that avenue open right now, otherwise they'd have used it to buy Murphy outright this window, rather than borrowing the player until the actual money comes in (because there's no way Brighton would have lent a player they're trying to offload without adding on a premium, meaning Rangers are losing money by doing things this way).
Also it would make it harder for them to control the admin.Quote:
Originally Posted by CropleyWasGod
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What I am looking forward to is the internal blood letting.
They owe the money to themselves and each other!!
Canny wait for the fall out. Blood and guts everywhere!!!
Farry deliberately delayed the registration so he couldnt play in a cup tie v Rangers. Was the allowed to resign and signed a non disclosure agreement so he didnt have to divulge the truth, typical Scottish football brushing under the carpet.Quote:
Originally Posted by Skol
So the alleged shopping around for a cheap Administration company, and letting the cat out the bag, could all be in vein?Quote:
Originally Posted by Ozyhibby
If it isn't vein it could be a bloodbath.......Quote:
Originally Posted by Jack
https://www.scotcourts.gov.uk/curren...0-ff0000d74aa7
King must have lodged an appeal as a motion from his Counsel is being opposed tomorrow in the Inner House.
He's not known as the Glib and Shameless for nothing.
Dave King been given leave to appeal. Will be heard on 28 Feb. Two days set aside. Motion for Early disposal by ToP brief appears to have been granted.
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I'm going to try to attend the appeal hearing if possible. Only the Glib and Shameless could pretend he was impecunious among other things. This is case history in the making and is comedy gold. Can't wait.
:greengrin
How do you go about doing that, and where is it likely to be?Quote:
Originally Posted by lgnsh70
I must admit that throughout the whole Sevco saga, I've quite fancied going along to view proceedings at some stage.
It's a bit like live theatre, involving characters with whom we are all familiar.
I'm not from a legal background so wouldn't be 100% up on everything but apart from anything else I think it would be quite cool to see how a court operates.
It'll be heard in the Inner House court settings contained within the Court of Session 1 Parliament Square next to St Giles. Go through the reception/search area and enter the big main corridor, turn into the second left corridor if I remember rightly and you'll see the notice boards listing the courts business day. If the case has not been allocated as yet ask back at the reception desk and they'll keep you informed.Quote:
Originally Posted by Smartie
Whichever court has been allocated won't usually open its doors until just before 10 am however the cafe downstairs is open from an hour or so beforehand.
Hearings are normally open to the public unless an in camera has been sought which would be unlikely in this case.
Its certain to be very interesting indeed mate.
:aok:
Will they let you in with a Hibs scarf on? :greengrinQuote:
Originally Posted by lgnsh70
Certainly worth a try.Quote:
Originally Posted by JeMeSouviens
:greengrin
Is this right? Can't see it reported anywhere.Quote:
Originally Posted by Ozyhibby
There is report from court on the sfm website.Quote:
Originally Posted by ehf
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