Generic Sevco / Rangers meltdown thread

***AlbertK86*** · 18-07-2012 07:21 PM

Originally Posted by StevieC

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It wasn't a friendly...

.. it was a joint training session.

Ah that old chestnut !!!!

**jdships** · 18-07-2012 08:12 PM

Originally Posted by StevieC

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So Charlie is selling shares in the club at £1m for 10%. 50% gets him his £5m back and he still has a majority shareholding.

That said, it's not a bad investment for the assets alone, never mind the early opportunity to double your money when Bomber Brown wades in with his consortium bid.

The problems will start to rise though, when it becomes apparent that there's not enough money to cover the running costs. It doesn't look like there are any "investors" with large disposable wads of cash ready to plough into the club. And why would any one of them do it, when the other investors aren't able to do the same?

Good post

I have a friend who is a retired accountant who worked on many sequestration /liquidation cases and he has been saying that for weeks now. CASH FLOW
How much will they need to have in hand when they open up on a Monday morning ?
What crowds will they get at Ibrox in Div 3 ?
Can't see the 'hordes' traveling every second week on the Larne /Stranraer ferry to watch these games !
Remember one of the Sunday papers published an estimate ( in 2011) that some 30/35 % of Rangers ST holders lived outwith Scotland !!!!

**Gatecrasher** · 18-07-2012 08:17 PM

***AlbertK86*** · 18-07-2012 08:18 PM

Originally Posted by Gatecrasher

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Class

***MrSmith*** · 18-07-2012 08:19 PM

Originally Posted by WindyMiller

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Believe it or not ... I work along the road from that very pub!

**~~Hibercelona~~** · 18-07-2012 08:27 PM

Originally Posted by Gatecrasher

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**Tyler Durden** · 18-07-2012 08:41 PM

Originally Posted by reallapsedhibee

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How is Gary Kenneth playing for lowly Airdrie now? Wasn't he in the full national squad hardly any time ago?

He's a free agent. Left Utd expecting to secure a move down south but has had no offers whatsoever. I'd take a punt on him - better than Hanlon IMO.

One for transfer rumour thread really.

***Ray_*** · 18-07-2012 08:50 PM

Originally Posted by jdships

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Good post

I have a friend who is a retired accountant who worked on many sequestration /liquidation cases and he has been saying that for weeks now. CASH FLOW
How much will they need to have in hand when they open up on a Monday morning ?
What crowds will they get at Ibrox in Div 3 ?
Can't see the 'hordes' traveling every second week on the Larne /Stranraer ferry to watch these games !Remember one of the Sunday papers published an estimate ( in 2011) that some 30/35 % of Rangers ST holders lived outwith Scotland !!!!

Do you keep your own gate money in the SFL as you do in the SPL? If not, having to give away half of the bi-weekly takings from Ibrox would really hurt, can't see it being so though :(.

**jdships** · 18-07-2012 08:53 PM

Originally Posted by Ray-in-ireland

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Do you keep your own gate money in the SFL as you do in the SPL? If not, having to give away half of the bi-weekly takings from Ibrox would really hurt, can't see it being so though :(.

I believe that is the case .

***Ray_*** · 18-07-2012 09:01 PM

Originally Posted by jdships

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I believe that is the case .

That's a shame, but at least the opposition fans will come out to see the newco play their teams, which will give the local teams a bit of a financial boost.

**stoobs** · 18-07-2012 09:04 PM

Originally Posted by WindyMiller

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When I Googled that pub I found this article about a man who painted it green by mistake.

http://www.thescottishsun.co.uk/scot...ted-green.html

Last line is the best though.

"[The painter] said: “I’m colour blind and there was a mix up with the colour. It dried to a shade of green.”"

Who hires a colour blind painter to pick the colour?!

**Part/Time Supporter** · 18-07-2012 09:24 PM

Originally Posted by Tyler Durden

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He's a free agent. Left Utd expecting to secure a move down south but has had no offers whatsoever. I'd take a punt on him - better than Hanlon IMO.

One for transfer rumour thread really.

Maybe the English are smarter than they look.

**leggeto** · 18-07-2012 10:12 PM

do rangers keep their previous honours on record or do they start with a clean page ?

**Prof. Shaggy** · 18-07-2012 10:19 PM

Originally Posted by Pitlochry hibee

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http://www.bbc.co.uk/sport/0/football/18893159

£1million won't go very far!?

"I can't believe Rangers would fail to exist - it's beyond my brain capacity."

Not exactly top of the class, then.

***grunt*** · 18-07-2012 11:00 PM

Originally Posted by Pitlochry hibee

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http://www.bbc.co.uk/sport/0/football/18893159

£1million won't go very far!?

This article reads as though the guy is also getting a job at The Rangers.
I wonder if he's getting a salary?

***1875godsgift*** · 18-07-2012 11:02 PM

Originally Posted by PatHead

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Bomber Brown and Bazza Ferguson ride to the rescue. Funny how no quotes from the crab though.

http://www.bbc.co.uk/sport/0/football/18880822

Hope it manages a takeover as he has an iq of about 4. By the way did anyone else hear the rumour that Andy Goram charged £500 to speak at the Rangers Fans meeting a couple of weeks ago?

What a catchy name they've given themselves.

" Rangers for ( spare ) Change "

***1875godsgift*** · 18-07-2012 11:04 PM

Originally Posted by grunt

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This article reads as though the guy is also getting a job at The Rangers.
I wonder if he's getting a salary?

Looks more like he's getting a state of the art training facility for his youth enterprise for virtually **** all!

**jgl07** · 18-07-2012 11:07 PM

Those numpties at the BBC have yet to update the fixtures. They still have Club 12 in the SPL and Dundee in SFL1. They also still have Dundee rather than Rangers away to Brechin in the first round of the Challenge Cup.

Are they still hanging on hoping for a reprieve?

The season starts a week on Saturday!

**WindyMiller** · 19-07-2012 06:36 AM

Originally Posted by 1875godsgift

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Looks more like he's getting a state of the art training facility for his youth enterprise for virtually **** all!

£1m up front, bring in youth players to supplement what they already have and get a share of any sell-on price.

IMO.

***LancsHibs*** · 19-07-2012 07:02 AM

Originally Posted by MrSmith

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Believe it or not ... I work along the road from that very pub!

Ever been in?

**green glory** · 19-07-2012 07:59 AM

I see the Huns got their lucrative TV deal for their first game against Brechin. The talk on Hunmedia has been about how Sky and ESPN etc are fighting over the game.

It's just been announced It's going to be shown live on BBC Alba.

Har har har!

***CentreLine*** · 19-07-2012 08:15 AM

So it looks like the 3rd Div clubs don't look in to Hibs.net for their advice. Shame really

Originally Posted by CentreLine

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Just some random thoughts and a romantic view of the potential positives.

This, to me, is what those of us that demanded sporting integrity wanted. I believe most of us did not want the death of a club but wanted the authorities to ensure that no club was allowed to get away with outright cheating. So we looked for Rangers FC, as was, to be made to pay its debt to all of Scottish Football, a debt they are clearly due as their years of cheating impacted on every other club. As it happens Rangers FC did die or at least will do when the club is liquidated very shortly.

So what do we have now? We have a new club, SEVCO 5088, that has ambitions to become a new Rangers. Although they can never be Rangers FC, that club is now consigned to history, they will become whatever their followers want them to be. Some people will even believe they are actually Rangers and nothing has changed. Well so be it that's just the reality.

If SEVCO 5088 agree to pay the footballing debts of Oldco and all of the other outstanding conditions currently demanded by the SFA they may then get to use Rangers in their name and kick off the season.

There can be no doubt that the broadcasting companies will be lining up to follow follow SEVCO 5088 in their attempt to establish themselves as new Rangers and to find some credibility in the game. I do believe that it will be compulsive viewing and, yes, entertaining too. I don’t think it will be as easy as some people assume.

But most importantly, this has to be a wonderful opportunity for the 3rd, 2nd and 1st Div, clubs, as well as Scottish football generally, to benefit in a very real way. Not one television camera, radio mic or newspaper hack should be allowed in to any of their grounds without a substantial fee being demanded. If the clubs stick together then they can achieve this and a lot more. They must ensure that they are not mere observers in this tasteless phenomenon. If they have any sense they will also have approached some major companies and collectively demanded significant fees for trackside advertising at every one of their games against SEVCO 5088. Pictures of these games will go all the way round the world and companies should pay handsomely for that kind of advertising. For once the “wee clubs” hold all the aces and this must not be allowed to be simply all about new Rangers.

Handled properly, every club in the country should benefit and there is a real chance that many more young people will be exposed to the game. Just maybe we will again see the tanner ba’ players coming through and football will once again become the game of the ordinary people instead of being hijacked by a couple of clubs.

All the time of course the liquidators will be forensically examining evrything that Rangers FC and individuals within the group have been up to. I think we can be sure that every club that did business with Rangers FC during that period will also be looked at, including of course our own club. There will be some serious dirty washing to be done in public. I don't really mind who is found with their hands in the till so long as it is not Hibs. And if we have a clean bill of health at the end of all that, just maybe people will appreciate what STF and RP have done for us.

***Just Alf*** · 19-07-2012 08:23 AM

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Following a online debate about the Duff and Phelps creditors’ report on the 10th of July it has come to light there is appears to be what could be a serious misdemeanour, or at best commercial misjudgement, with the catering accounts.

Food and beverage sales for the period since administration started = £300k approximately.

Food and beverage cost £900k approximately.

This is over a period of five months. This is from a club run under administration. This includes a time when everyone was off on holiday leave.

Over 12 months this leads close to £1.3million JUST IN FOOD AND BEVERAGES.

This to me looks like a bit of skulduggery. (Or some very fine dining going on!)

Actual figures from report are £388,973 Food & Beverages Sales under Income column then £991,155 Catering/Food and Beverage under Expenditure column.

My interpretation (without the detail or a degree in accountancy)would be that even allowing for a 0% profit on sales, the club spent, in just a 5 month period that includes off season when most employees would be gone, £602,182 on food & beverage over and above what they sold (to fans on match days).

I assume this expenditure must be on food for players and other employees. And over a 12-month period that would be a running cost of £1,445,238.

Of course, there may be a good explanation for this eg the pies were being baked for £3 each but sold for only £1 each.

Under such circumstances D&P would probably argue this would be in the best interest of creditors as it keep the pie shop open.

While we can joke about “who ate all the pies” this seems a remarkable loss caused to creditors under the rule of the administrators.

Maybe Mr Clark or Mr Whitehouse can explain, “Who ate all the pies?”

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from http://scotslawthoughts.wordpress.co...ick/#more-1566