Generic Sevco / Rangers meltdown thread

[Sylar]

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I've just heard on the radio that Newcastle are to receive half a million quid if Sevco are promoted. I've read that Mike Ashley is a brilliant businessman and is constantly thinking up new methods of generating cash for his various companies... But this is the work of a genius!! Give Sevco 5 crocks, make them pay a share of their wages despite most of them being very unlikely to kick a ball for them, and then pick up a cool half million in the event of a promotion in which only one of the players would have contributed to...Easy Money....Why didn't Wigan insert a similar clause when we borrowed Fraser Fyvie?

Whilst I've no love for their club as a whole, if our club had been obliterated by a succession of crooks and charlatans to the extent that The Rangers have, we'd rightfully be pissed off.

That they have to pay Newcastle £500k upon promotion seems absolutely ludicrous - if this is a condition of the loan players arriving in Glasgow, surely there's some form of caveat in there that suggests they had to actually contribute to their promotion?

If not, you'd have to question why - did the previous members of The Rangers' board not read the agreement when it was put before them or did Mike Ashley/Derek Llambias really have that much control?

[Moulin Yarns]

The hootsman is reporting they are targeting being back at the top of Scottish and European football by 2022.

I'll give them until 20:24 to revise that target

[Spike Mandela]

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Whilst I've no love for their club as a whole, if our club had been obliterated by a succession of crooks and charlatans to the extent that The Rangers have, we'd rightfully be pissed off.

That they have to pay Newcastle £500k upon promotion seems absolutely ludicrous - if this is a condition of the loan players arriving in Glasgow, surely there's some form of caveat in there that suggests they had to actually contribute to their promotion?

If not, you'd have to question why - did the previous members of The Rangers' board not read the agreement when it was put before them or did Mike Ashley/Derek Llambias really have that much control?

They didn't have a pot to piss in. They needed new players on the cheap. Ashley provided them. The boards calculation was "better than nothing" and pay for them when promoted.

Rangers then, now and forever.....paying on the never never.

[Jack Hackett]

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They didn't have a pot to piss in. They needed new players on the cheap. Ashley provided them. The boards calculation was "better than nothing" and pay for them when promoted.

Rangers then, now and forever.....paying on the never ever.

Fixed that for you

[ancient hibee]

Unless the South African Tax Evading Goldilocks comes up with some dosh soon I predict that the Three Bears will get shot of him.

[Michael]

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The hootsman is reporting they are targeting being back at the top of Scottish and European football by 2022.

I'll give them until 20:24 to revise that target

Pretty sure that's the year England will be winning the world cup IIRC.

[cabbageandribs1875]

http://www.bbc.co.uk/sport/0/football/32127566

as already posted above

Should Rangers gain promotion to the Premiership this season, they must pay Newcastle United £500,000.

Rangers made losses after tax of £2.89m for the six-month period to 31 December 2014 - accounts interim chairman Paul Murray describes as "disappointing".


giggle giggle

[KeithTheHibby]

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http://www.bbc.co.uk/sport/0/football/32127566

as already posted above

Should Rangers gain promotion to the Premiership this season, they must pay Newcastle United £500,000.

Rangers made losses after tax of £2.89m for the six-month period to 31 December 2014 - accounts interim chairman Paul Murray describes as "disappointing".


giggle giggle

Not forgetting the fact that they were paid 1.3m for allowing the commonwealth games and Scotland v Georgia game to be played at Hunbrox otherwise the loss would have been much worse.

I can't see the six months to June reporting anyhing other than at least a 3m loss again.

[CropleyWasGod]

I am hearing that they are about to appoint a NOMAD. Lex Gold Associates, apparently.

Paul Murray "we are looking forward to moving on from the days of Green and Whyte. Gold will be a major part of that".

[Ronniekirk]

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I am hearing that they are about to appoint a NOMAD. Lex Gold Associates, apparently.

Paul Murray "we are looking forward to moving on from the days of Green and Whyte. Gold will be a major part of that".

[greenginger]

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I am hearing that they are about to appoint a NOMAD. Lex Gold Associates, apparently.

Paul Murray "we are looking forward to moving on from the days of Green and Whyte. Gold will be a major part of that".

On a similar theme, I wonder if new the Sevco director will use his full name as per previous Companies House listings.

It is .............. Douglas Ireland Park !

[Bostonhibby]

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On a similar theme, I wonder if new the Sevco director will use his full name as per previous Companies House listings.

It is .............. Douglas Ireland Park !

I am sure there will be a silent Northern in there somewhere. Or he could have it added by deed poll

You really couldn't make their directorial soap opera much funnier if they gave it over to Billy Connolly to write.

the rangers, the club that keeps on giving.

[Ozyhibby]

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I am hearing that they are about to appoint a NOMAD. Lex Gold Associates, apparently.

Paul Murray "we are looking forward to moving on from the days of Green and Whyte. Gold will be a major part of that".

Question for an accountant.
If Rangers retail is now mostly owned by Mike Ashley (75% ?), how come it appears in Sevco's accounts?
Surely it should be in sports directs accounts?

[Jim44]

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http://www.bbc.co.uk/sport/0/football/32127566

as already posted above

Should Rangers gain promotion to the Premiership this season, they must pay Newcastle United £500,000.

Rangers made losses after tax of £2.89m for the six-month period to 31 December 2014 - accounts interim chairman Paul Murray describes as "disappointing".


giggle giggle

Sure, it's a bit of a giggle and amusing reading just now, but the downside is that if the payment to Newcastle has to be made, it means that we are stuck in the Championship for at least another year.

[jdships]

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I am hearing that they are about to appoint a NOMAD. Lex Gold Associates, apparently.

Paul Murray "we are looking forward to moving on from the days of Green and Whyte. Gold will be a major part of that".

Is that the same LG that was involved with Hibs a few years ago ?

[scoopyboy]

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Is that the same LG that was involved with Hibs a few years ago ?

I think the date has got you.

Green, Whyte and Gold!!!!!!!!!!!

[Moulin Yarns]

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They are still accountable to their shareholders, of whom MASH is a major one.

Dual interests anyone?

http://www.bbc.co.uk/sport/0/football/32149635

[CropleyWasGod]

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Question for an accountant.
If Rangers retail is now mostly owned by Mike Ashley (75% ?), how come it appears in Sevco's accounts?
Surely it should be in sports directs accounts?

The results of the company will be reflected in each of Sevco and MASH's group accounts, to the extent to which those companies own Rangers Retail.

I'm not sure of the %'s, but if you're right, 75% of profits will be accounted for in MASH, and 25% in RFC (or the plc, whichever one it is that owns RR).

[CentreLine]

So let's try to get this right?

Are we predicting:
That The Rangers International Football Club will not appoint a NOMAD and allow themselves to be delisted?
They will limp on to the end of the season hoping to be promoted through the play-offs?
Following that they will go in to administration allowing themselves to shed a whole lot more debt and most of the wage thieves but of course having to buy off MASH because he has security?
Then refinance through a share offer and spend more money?
Take the hit of a 25 point deduction in the top league and expect to remain clear of second bottom by more than 25 points?

Is that about right and would they need to do the administration thing before the season ticket money comes in?

All very complex as some might say

[Bostonhibby]

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So let's try to get this right?

Are we predicting:
That The Rangers International Football Club will not appoint a NOMAD and allow themselves to be delisted?
They will limp on to the end of the season hoping to be promoted through the play-offs?
Following that they will go in to administration allowing themselves to shed a whole lot more debt and most of the wage thieves but of course having to buy off MASH because he has security?
Then refinance through a share offer and spend more money?
Take the hit of a 25 point deduction in the top league and expect to remain clear of second bottom by more than 25 points?

Is that about right and would they need to do the administration thing before the season ticket money comes in?

All very complex as some might say

Sure I read somewhere that dodgy dave has got more money that the Sultan of Brunei and they will be drowning in cash as soon as he gets to the cash line machine, its just that he has forgotten his pin number and he can only get out £250 a day otherwise their problems would be over.

Not taken long for them to go back on the nomad promise and still zero new money from him.

They know how to pick a "billionaire / multi millionaire" do the new boys, they really should stop basing their business plans on the daily ****** headlines.

I actually think any combinations of what you outline are possible over on the planet of the apes.

[Keith_M]

Anybody know when the NOMAD/De-listing deadline is?

I had it in my head it was today but not a thing in the MSM.

[CropleyWasGod]

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Anybody know when the NOMAD/De-listing deadline is?

I had it in my head it was today but not a thing in the MSM.

Pretty sure they had 28 days from the resignation of the previous guys. Is that today?

[McSwanky]

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Pretty sure they had 28 days from the resignation of the previous guys. Is that today?

Says a month from the 4th March here:

http://www.independent.co.uk/news/bu...-10085841.html

[DJ HIBBY]

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Anybody know when the NOMAD/De-listing deadline is?

I had it in my head it was today but not a thing in the MSM.

It is definitely today mate. Would imagine it would be close of play today, so few hours left.

What happens to all the shares if the company is delisted? Does that mean all those who bought shares have lost their money?

[CropleyWasGod]

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It is definitely today mate. Would imagine it would be close of play today, so few hours left.

What happens to all the shares if the company is delisted? Does that mean all those who bought shares have lost their money?

Not at all.

They still own the shares. It means, however, that they can't trade them on the open market as freely as they could before.

For some, that's not an issue. For those who are holding them as an investment, it probably is.... less marketability generally means less value. (however, given that the shares were worth as much as a roll of Andrex anyway....... )

[Keith_M]

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It is definitely today mate. Would imagine it would be close of play today, so few hours left.

What happens to all the shares if the company is delisted? Does that mean all those who bought shares have lost their money?

Cheers



So only a few hours left to prove wrong all us cynics that 'Dodgy Dave' isn't actually as bad as all the rest of them after all.



What was the wording again? A glib and shameless liar?

[Bostonhibby]

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Cheers



So only a few hours left to prove wrong all us cynics that 'Dodgy Dave' isn't actually as bad as all the rest of them after all.



What was the wording again? A glib and shameless liar?

It was but that was only a senior south African judges view. Over here he is a the rangers man, like his recent predecessors so all above board then

[PatHead]

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It was but that was only a senior south African judges view. Over here he is a the rangers man, like his recent predecessors so all above board then

Like it!

[Hermit Crab]

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Cheers



So only a few hours left to prove wrong all us cynics that 'Dodgy Dave' isn't actually as bad as all the rest of them after all.



What was the wording again? A glib and shameless liar?

It will be last minute they appoint something.

[Spike Mandela]

Grant Russell (@STVGrant)
02/04/2015 14:01
Rangers announce they have been unable to find a new Nomad and will delist from the Alternative Investment Market.