Generic Sevco / Rangers meltdown thread

[JeMeSouviens]

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Another PhilMac. piece on the Sevco train crash.


http://www.philmacgiollabhain.ie/front-loaded-kool-aid/


I know its Phil with all his baggage etc. but the sums are simple.


Rangers will be out of cash by November unless they get a very successful share issue or King ponies up big time.

Just don't expect to read it in any newspaper or hear it on TV or radio. Its the Motherwell born billionaire story all over again.

I think the plan has always been another share issue. Diminishing returns would reckon they're up against it there and even if they do pull in a hefty wedge, how much of it will have to go to pay off Ashley? If they are skooshing the league in front of big crowds and Ashley goes easy on them they might just raise enough to survive without another insolvency.

Sadly, as usual, we have given them a helping hand by lying down to a hiding. Bet that shifted several thousand New Hun STs.

[ancient hibee]

I'm sure that if they launch another share issue the debarred shareholders will go to court over it.In any case who would be brave enough to underwrite it.

[Keith_M]

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I'm sure that if they launch another share issue the debarred shareholders will go to court over it.In any case who would be brave enough to underwrite it.

Dave King, surely?



#wheresdavekingsmillions

[Ozyhibby]

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I think the plan has always been another share issue. Diminishing returns would reckon they're up against it there and even if they do pull in a hefty wedge, how much of it will have to go to pay off Ashley? If they are skooshing the league in front of big crowds and Ashley goes easy on them they might just raise enough to survive without another insolvency.

Sadly, as usual, we have given them a helping hand by lying down to a hiding. Bet that shifted several thousand New Hun STs.

They don't have the votes on the board for another share issue.

[brog]

The DR today has a front page pic & 2 page spread of a key witness to Chuckie Green fraud investigation being in Glasgow. Looks like the case is still proceeding apace. It started me musing as to just how the powers that be behind the scenes at greyskull actually went about supporting & choosing their last 3 owners/COE's.

Craig Whyte - sounds good, ok he's been barred from being a company director for 7 years but that's just a technical matter. he's got off the radar wealth, he lives in a castle & he looks like another cheekie chappie, him & Coisty, the dream team, that'll do for me.
Chuckie Green - really disappointed that he's never been barred from being a company director but the positive news is he was strongly suspected of asset stripping at Sheffield Utd & turned a small loss into a massive one! he's owned about 40 companies & about 80% of those have been dissolved, let's take a chance on him! And, we can call him big man!
Dave King Ah, now we're talking!! A convicted criminal, and on 41 counts! at last we're hitting the big time! Not only that but he was originally indicted on 322 counts of criminal activity for everything from racketeering & money-laundering to dandruff! Brilliant, he'll have no problem passing the fit & proper test, he's the man to take Sevco forward!
Kim Jong-Un,

[Bostonhibby]

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The DR today has a front page pic & 2 page spread of a key witness to Chuckie Green fraud investigation being in Glasgow. Looks like the case is still proceeding apace. It started me musing as to just how the powers that be behind the scenes at greyskull actually went about supporting & choosing their last 3 owners/COE's.

Craig Whyte - sounds good, ok he's been barred from being a company director for 7 years but that's just a technical matter. he's got off the radar wealth, he lives in a castle & he looks like another cheekie chappie, him & Coisty, the dream team, that'll do for me.
Chuckie Green - really disappointed that he's never been barred from being a company director but the positive news is he was strongly suspected of asset stripping at Sheffield Utd & turned a small loss into a massive one! he's owned about 40 companies & about 80% of those have been dissolved, let's take a chance on him! And, we can call him big man!
Dave King Ah, now we're talking!! A convicted criminal, and on 41 counts! at last we're hitting the big time! Not only that but he was originally indicted on 322 counts of criminal activity for everything from racketeering & money-laundering to dandruff! Brilliant, he'll have no problem passing the fit & proper test, he's the man to take Sevco forward!
Kim Jong-Un,

Very good analysis but cannae see wee Kim passing the fat and protestant person test. the latter part anyway as he is apparently a deity in his own right. The only option might be for all the huns to apply for North Korean Citizenship and then undertake a religious conversion, We can but hope.

[Geo_1875]

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Very good analysis but cannae see wee Kim passing the fat and protestant person test. the latter part anyway as he is apparently a deity in his own right. The only option might be for all the huns to apply for North Korean Citizenship and then undertake a religious conversion, We can but hope.

But at least he's not RC.

[JeMeSouviens]

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They don't have the votes on the board for another share issue.

If it comes down to dilution or bust though?

[greenginger]

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The DR today has a front page pic & 2 page spread of a key witness to Chuckie Green fraud investigation being in Glasgow. Looks like the case is still proceeding apace. It started me musing as to just how the powers that be behind the scenes at greyskull actually went about supporting & choosing their last 3 owners/COE's.

Craig Whyte - sounds good, ok he's been barred from being a company director for 7 years but that's just a technical matter. he's got off the radar wealth, he lives in a castle & he looks like another cheekie chappie, him & Coisty, the dream team, that'll do for me.
Chuckie Green - really disappointed that he's never been barred from being a company director but the positive news is he was strongly suspected of asset stripping at Sheffield Utd & turned a small loss into a massive one! he's owned about 40 companies & about 80% of those have been dissolved, let's take a chance on him! And, we can call him big man!
Dave King Ah, now we're talking!! A convicted criminal, and on 41 counts! at last we're hitting the big time! Not only that but he was originally indicted on 322 counts of criminal activity for everything from racketeering & money-laundering to dandruff! Brilliant, he'll have no problem passing the fit & proper test, he's the man to take Sevco forward!
Kim Jong-Un,

What's the chances of rangers and the real rangers men pushing this investigation along in the hope of proving Ashley's deal with Rangers Retail and any other onerous contracts were corrupt and should be set aside to let the real crooks benefit.

[Bostonhibby]

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But at least he's not RC.

Shouldn't be a problem then as they wont have to change their signature tune, being "up to their knees" in North Korean deity's blood doesn't exactly trip off the tongue.

[Keith_M]

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The DR today has a front page pic & 2 page spread of a key witness to Chuckie Green fraud investigation being in Glasgow. Looks like the case is still proceeding apace. It started me musing as to just how the powers that be behind the scenes at greyskull actually went about supporting & choosing their last 3 owners/COE's.

Craig Whyte - sounds good, ok he's been barred from being a company director for 7 years but that's just a technical matter. he's got off the radar wealth, he lives in a castle & he looks like another cheekie chappie, him & Coisty, the dream team, that'll do for me.
Chuckie Green - really disappointed that he's never been barred from being a company director but the positive news is he was strongly suspected of asset stripping at Sheffield Utd & turned a small loss into a massive one! he's owned about 40 companies & about 80% of those have been dissolved, let's take a chance on him! And, we can call him big man!
Dave King Ah, now we're talking!! A convicted criminal, and on 41 counts! at last we're hitting the big time! Not only that but he was originally indicted on 322 counts of criminal activity for everything from racketeering & money-laundering to dandruff! Brilliant, he'll have no problem passing the fit & proper test, he's the man to take Sevco forward!
Kim Jong-Un,

You forgot about The Krays

TheKrays_OrIsItTheEasdales.jpg

[AndyM_1875]

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Another PhilMac. piece on the Sevco train crash.


http://www.philmacgiollabhain.ie/front-loaded-kool-aid/


I know its Phil with all his baggage etc. but the sums are simple.


Rangers will be out of cash by November unless they get a very successful share issue or King ponies up big time.

Just don't expect to read it in any newspaper or hear it on TV or radio. Its the Motherwell born billionaire story all over again.

Goes without saying that Phil is a twat but Rangers certainly should have been counting the bawbees.
Their squad this year is better than last seasons but it's also cheaper. So if they are running out of cash again then they'll require either of the things you suggest or
further loans from directors who we would assume are not taking money out the club unlike in the Charlie Green days.

Perhaps the cutbacks that were rumoured after June have not actually happened but that doesn't surprise me.
There's a mentality at Rangers both at Director and at Fan level and that just does not "get it" that when you have limited funds you cut your cloth accordingly.
When other clubs are relegated or they see money tighten, players are moved on or released and squads are cut in size. At lower levels clubs even go Part Time or have a greater mix of Part Time players. Any new contracts to players should be more modest and we all remember the East mains bloodbath that was Butcher's last act after relegation.
But at Rangers, none of those things happen. They still fritter money away so for that reason to my mind they are without doubt the world's stupidest football club

[Keith_M]

But Dave King has promised to invest £50 million, I mean £40 million, ehm, or was it £10 million.



In all seriousness, can you imagine the team that we could afford if we had just banked the money from circa 25k Season Tickets?

[steakbake]

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Goes without saying that Phil is a twat but Rangers certainly should have been counting the bawbees.
Their squad this year is better than last seasons but it's also cheaper. So if they are running out of cash again then they'll require either of the things you suggest or
further loans from directors who we would assume are not taking money out the club unlike in the Charlie Green days.

Perhaps the cutbacks that were rumoured after June have not actually happened but that doesn't surprise me.
There's a mentality at Rangers both at Director and at Fan level and that just does not "get it" that when you have limited funds you cut your cloth accordingly.
When other clubs are relegated or they see money tighten, players are moved on or released and squads are cut in size. At lower levels clubs even go Part Time or have a greater mix of Part Time players. Any new contracts to players should be more modest and we all remember the East mains bloodbath that was Butcher's last act after relegation.
But at Rangers, none of those things happen. They still fritter money away so for that reason to my mind they are without doubt the world's stupidest football club

Hoisted by their own hubris and they genuinely believe their own hype. Any time you read of them talking about the "history" of their club, or getting back to "where they belong", it seems like they've not learned a single thing.

If they go bust, it will be nothing short of what they deserve.

[Hibernia&Alba]

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Hoisted by their own hubris and they genuinely believe their own hype. Any time you read of them talking about the "history" of their club, or getting back to "where they belong", it seems like they've not learned a single thing.

If they go bust, it will be nothing short of what they deserve.

Any fans who refer to themselves as "the people" (I'm unsure what they think the rest of us are) can't have much humility, so it's unsurprising their arrogance is undiminished. They're too stupid to reflect on things.

[high bee]

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Any fans who refer to themselves as "the people" (I'm unsure what they think the rest of us are) can't have much humility, so it's unsurprising their arrogance is undiminished. They're too stupid to reflect on things.

The ones I know certainly are, they haven't learned a thing. As far as they are concerned it is the SPL/SFA and HMRCs fault they are bust and apparently they are victims of a witch hunt.

Plus they think everyone that voted for Sevco to start in Div 3 did it out of spite/fear, not for fair competition. When I point out that it wouldn't have even gone to a vote of it was anyone else because it was the only right outcome but a lack of balls prevented the decision from being made automatically, they get very angry. Seems the truth hurts especially when you're in denial.

My favourite moment was when they thought they were world beaters after beating us in the playoff and saying how ironic it was that they would be sending Motherwell down when they voted to send Sevco down a few years previous, that went well!

[ano hibby]

On a serious note is there a link available to an article where DK promised to invest £xm..? Or has it all been supposition?
May well be miles earlier in thread but one does forget!

[PatHead]

Was listening to John Beattie show on Radio Scotland yesterday lunchtime. They were discussing the bans on certain press from Ibrox.

Graham Spiers was seemingly banned for criticising the new board - in particular The Glib and Shameless liar over the past few years.

The more worrying one was Chris McLaughlan though. He was banned for reporting on the Referees report including the sectarian singing. Obviously they don't like the truth being out there as it is bad publicity.

BBC are therefore refusing to send reporters according to the reporters on the show yesterday. Have to ask why they are commentating on the game tonight then?

[Keith_M]

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On a serious note is there a link available to an article where DK promised to invest £xm..? Or has it all been supposition?
May well be miles earlier in thread but one does forget!

March 2014: At least £30 million

May 2015: £10 Million

[brog]

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You forgot about The Krays

TheKrays_OrIsItTheEasdales.jpg

You're correct! So many crooks, so little time! Actually I guess big Sandy trumps the others in that he actually did time! What a collection of shysters!

[greenginger]

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March 2014: At least £30 million

May 2015: £10 Million

I think Mr King will be wary of under-writing a share issue if David Murray's efforts to grab the orange pound are anything to go by.


http://www.telegraph.co.uk/sport/foo...re-scheme.html


£ 51,430,995.00 raised , £ 50,275,000.00 from his own company Murray International, which led to B.of S. taking a stake in the company before the Bank needed bailing out by us, the taxpayer.

[Eyrie]

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March 2014: At least £30 million

May 2015: £10 Million

August 2015 - penniless.

There are some things in life that money can buy. For everything else, there's a glib and shameless lie.

[jacomo]

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I think Mr King will be wary of under-writing a share issue if David Murray's efforts to grab the orange pound are anything to go by.


http://www.telegraph.co.uk/sport/foo...re-scheme.html


£ 51,430,995.00 raised , £ 50,275,000.00 from his own company Murray International, which led to B.of S. taking a stake in the company before the Bank needed bailing out by us, the taxpayer.

A share issue will surely need to be under written by King, and that would mean coming good on his over investment promise.

How likely is that?

[ano hibby]

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March 2014: At least £30 million

May 2015: £10 Million

Thanks.

[StevieC]

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BBC are therefore refusing to send reporters according to the reporters on the show yesterday. Have to ask why they are commentating on the game tonight then?

What they said yesterday was they had found a dodgy internet stream and were going to do the commentary from that.

There was an interview with Ian Murray about 20mins before kick off as well though, but I'm assuming they just gave him a quick call on his mobile.

[Ozyhibby]

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A share issue will surely need to be under written by King, and that would mean coming good on his over investment promise.

How likely is that?

Almost impossible as things stand. They need permission from the other shareholders and they don't have the percentage of votes they need to get it passed. They almost certainly would have had a share issue by now if they could have.

[greenginger]

Who in their right mind would buy in anyway.

Green's issue was taken up by people who wanted to grab power, some blue-nose fund managers who thought they'd have a punt on the new clumpany with other people's money and have all but lost it, and the small share holder supporters .

The small share holders may buy a few more but it will be peanuts , the fund managers won't dare touch them, and will anyone put in millions to win control of the mess assembled by spivs & Co ?

[jacomo]

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Who in their right mind would buy in anyway.

Green's issue was taken up by people who wanted to grab power, some blue-nose fund managers who thought they'd have a punt on the new clumpany with other people's money and have all but lost it, and the small share holder supporters .

The small share holders may buy a few more but it will be peanuts , the fund managers won't dare touch them, and will anyone put in millions to win control of the mess assembled by spivs & Co ?

Green also hoovered up a number of pro investors (like that self-proclaimed City 'whizz kid') who have taken a bath on their investments. Can't imagine them falling for it again.

[greenginger]

https://rangerssupportersloyal.wordp.../#comment-2285


The John James@sitonfence character is banging on about evidence that Chuckie Green had actually sold the Big Hoose before taking leave of Sevco.

Seems in the 6 month accounts produced to December 2014 there is a £ 0.7 million charge (£1.4 million for the year ) for a sale and lease back of a Sevco asset ,and in his opinion can only be Ibrox .

[CropleyWasGod]

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https://rangerssupportersloyal.wordp.../#comment-2285


The John James@sitonfence character is banging on about evidence that Chuckie Green had actually sold the Big Hoose before taking leave of Sevco.

Seems in the 6 month accounts produced to December 2014 there is a £ 0.7 million charge (£1.4 million for the year ) for a sale and lease back of a Sevco asset ,and in his opinion can only be Ibrox .

Easily checkable through public records. I'm sure JJ would know that.

I haven't seen the accounts themselves, but would have thought that the sale of a major asset would be disclosed.