Generic Sevco / Rangers meltdown thread

[grunt]

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Club1872 are asking their members to chuck in £1m without knowing what they are getting. And they have a week to say yes or no.

They must know what they're getting. They can't be that dim. They are getting another few months of Rangers football. Surely none of them thinks they are buying shares as an investment on which they expect a financial return.

Surely?

[CropleyWasGod]

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They must know what they're getting. They can't be that dim. They are getting another few months of Rangers football. Surely none of them thinks they are buying shares as an investment on which they expect a financial return.

Surely?

You're new around these parts, ain't cha?

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[Iggy Pope]

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And in other news, Murty resumes his old job as Rangers Academy Manager. The guy has no morals, continuing to work for a club that treated him so badly!

No self respect.
No morals goes without saying. Not the sort of place for the sound of mind to take up employment.

[sleeping giant]

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And in other news, Murty resumes his old job as Rangers Academy Manager. The guy has no morals, continuing to work for a club that treated him so badly!

Maybe he has bills to pay and didn't have any other offers.

[Haymaker]

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Maybe he has bills to pay and didn't have any other offers.

Exactly. Good paying academy jobs aren't that plentiful

[Bostonhibby]

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Wonder what the odds are he’ll be in charge of the first team before Christmas!

When do they have to play celtc?

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[4WAW]

[QUOTE=CropleyWasGod;5426355]You're new around these parts, ain't cha?

I was hoping you were going to get a reply along the lines of "I'm not as green as I'm cabbage looking".

[grunt]

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I was hoping you were going to get a reply along the lines of "I'm not as green as I'm cabbage looking".

That's not a phrase I'd ever use, I'm afraid.

[jacomo]

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I think part of the issue here is that TOP haven't (by most accounts) been here before.

So there is brinkmanship going on, on the part of RIFC and King, to see how far they can go.

That all said, I find it strange that RIFC want to know now how much Club1872 are prepared to invest. It should be the other way about; it's for RIFC to issue the offer document, with all its terms, and then Club1872 decide how much they're putting in.

Then again, "strange" in most people's world......

This was always the weakness.

“Abide by our rules or you will be cold shouldered.”

And?

[CropleyWasGod]

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This was always the weakness.

“Abide by our rules or you will be cold shouldered.”

And?

As I understand it, RIFC will need someone to manage the share issue. "Cold shouldering" would mean that no-one could act for them.

I think.

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[Springbank]

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As I understand it, RIFC will need someone to manage the share issue. "Cold shouldering" would mean that no-one could act for them.

I think.

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i suppose if the main sanction is that rangers cant advertise the offer (but the smsm stèps in on that front), and that King needs to find and persuade willing buyers (and club1830 stèps in there) then King has béaten the system.

of course, the system beat King in theory but theory assumes investors would be rational, would wish long term certainty before parting with cash, and that investors would wish for sound advice instead of thedaily record sports team and super scoreboard as their guides - the investor équivalent of falling for posh Boris slapping a false misleading and british slogan on the side of a bus in a référendum...

the sooner Scotland rejects Britain and its harmful ways the better

[Bostonhibby]

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i suppose if the main sanction is that rangers cant advertise the offer (but the smsm stèps in on that front), and that King needs to find and persuade willing buyers (and club1830 stèps in there) then King has béaten the system.

of course, the system beat King in theory but theory assumes investors would be rational, would wish long term certainty before parting with cash, and that investors would wish for sound advice instead of thedaily record sports team and super scoreboard as their guides - the investor équivalent of falling for posh Boris slapping a false misleading and british slogan on the side of a bus in a référendum...

the sooner Scotland rejects Britain and its harmful ways the better

I agree most of this, but isn't it a Scottish "institution" doing all of this whilst based in Scotland with an inert government allowing all things The Rangers to pretty much carry on?

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[CropleyWasGod]

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i suppose if the main sanction is that rangers cant advertise the offer (but the smsm stèps in on that front), and that King needs to find and persuade willing buyers (and club1830 stèps in there) then King has béaten the system.

of course, the system beat King in theory but theory assumes investors would be rational, would wish long term certainty before parting with cash, and that investors would wish for sound advice instead of thedaily record sports team and super scoreboard as their guides - the investor équivalent of falling for posh Boris slapping a false misleading and british slogan on the side of a bus in a référendum...

the sooner Scotland rejects Britain and its harmful ways the better

IIRC, it's a rights issue. Ie only current members can buy.

Still think they need professional support though.

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[AltheHibby]

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Still think they need professional support though.

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In more ways than one.

[Billy Whizz]

Saw this on one of my feeds! Crops if you’ve stopped playing your imaginary guitar, can you give me your views

Good to catch up with you yesterday Ozy too, what’s your view on this, if true

https://daviesleftpeg.wordpress.com/...nd-boondoggle/

[CropleyWasGod]

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Saw this on one of my feeds! Crops if you’ve stopped playing your imaginary guitar, can you give me your views

Good to catch up with you yesterday Ozy too, what’s your view on this, if true

https://daviesleftpeg.wordpress.com/...nd-boondoggle/

Guitar, schmuitar.

I'm still on ma air moothie.

More later....

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[Ozyhibby]

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Saw this on one of my feeds! Crops if you’ve stopped playing your imaginary guitar, can you give me your views

Good to catch up with you yesterday Ozy too, what’s your view on this, if true

https://daviesleftpeg.wordpress.com/...nd-boondoggle/

I’m not sure but I’d be surprised that a bank would lend money for such an investment. The interest rate would be sky high. Borrowing money for share purchases is a very expensive thing normally.
I really can’t see it being true. If Sevco went belly up then everyone would immediately cancel their direct debit and the bank would be stiffed.
Even if they don’t go belly up, how do you persuade the members to keep giving when they know their money is only going to the bank and the club have got all the money anyway.



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[Ozyhibby]

https://thecelticblog.com/2018/06/bl...mpression=true


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[CropleyWasGod]

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I’m not sure but I’d be surprised that a bank would lend money for such an investment. The interest rate would be sky high. Borrowing money for share purchases is a very expensive thing normally.
I really can’t see it being true. If Sevco went belly up then everyone would immediately cancel their direct debit and the bank would be stiffed.
Even if they don’t go belly up, how do you persuade the members to keep giving when they know their money is only going to the bank and the club have got all the money anyway.



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To be fair, the piece doesn't say that it's bank funding. It may be private.

You're right, though.... No bank would lend such a sum (presumably quite high) without the ability to repay regularly or without security. I don't know much about Club1872 but I'd be surprised if they had sufficient of either.

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[Keith_M]

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Haven't read it all as i don't subscribe to the Herald.
But how can they have a share issue if King's TOP situation is unresolved?
Doesn't TOP have ANY powers at all?

Open Firefox then:

File - New Private Window - 'http://www.heraldscotland.com/'


If you then get blocked after reading a few articles, close the Window and open another private window.

[ancient hibee]

I wonder if Club 1872 has borrowing powers?Nobody would lend money for the purchase of shares in an issue when the terms of the issue have not been published.

[grunt]

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Open Firefox then:

File - New Private Window - 'http://www.heraldscotland.com/'


If you then get blocked after reading a few articles, close the Window and open another private window.

Thanks.

[Ronniekirk]

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I wonder if Club 1872 has borrowing powers?Nobody would lend money for the purchase of shares in an issue when the terms of the issue have not been published.

1872 are the equivalent of a vehicle for money laundering Wonder who has joined them in last few months



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[Ozyhibby]

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I wonder if Club 1872 has borrowing powers?Nobody would lend money for the purchase of shares in an issue when the terms of the issue have not been published.

I doubt they have. I just can’t see anyone lending anybody money to invest in sevco.


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[JeMeSouviens]

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I doubt they have. I just can’t see anyone lending anybody money to invest in sevco.


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Speculation from kerrydale st from one of their more informed posters:

Say you are a glib and shameless liar. Say you have also told lots of people you have difficulty releasing capital or moving money. Say you stood as guarantor to a loan to someone who couldn’t get a loan otherwise or even provided the funds yourself at a “reasonable” interest rate. Say the quantum of that loan was loaned to a business you had significant interest in. Say borrower defaulted on repayments. Would you be quids in either way?

Just a thought...

[CropleyWasGod]

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Speculation from kerrydale st from one of their more informed posters:

A thought, but a silly one.

If said borrower defaulted, said guarantor would be stiffed for the repayment. If said GASL was the lender, and borrower defaulted, said GASL would also be stiffed.

[JeMeSouviens]

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A thought, but a silly one.

If said borrower defaulted, said guarantor would be stiffed for the repayment. If said GASL was the lender, and borrower defaulted, said GASL would also be stiffed.

Yeah, I thought the "quids in either way" bit was silly but the idea that GASL would act as guarantor in order for the mug punters to pony up cash he would otherwise have to find himself does sound like it might appeal to him.

[Ozyhibby]

A full day has past since this rumour surfaced and it looks as ridiculous now as it did then. Not from a sevco or club1872 perspective, those daft us are capable of anything in their search for more cash. It’s from a lenders perspective that it does not stack up at all. You only have to look at the level of security Close Brothers took to see that there is no way anyone is lending club 1872 money to invest in Rangers.


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[ancient hibee]

Isn't there also a Rangers Official involved in running Club 1872? This stirs memories(perhaps out of date)of connected persons and shadow directors.

[greenginger]

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Isn't there also a Rangers Official involved in running Club 1872? This stirs memories(perhaps out of date)of connected persons and shadow directors.

https://beta.companieshouse.gov.uk/company/SC525940

Jim Blair was a director but he resigned end of last year.

He is still the only share holder in the Company ( one share ).

Its his company/club they are pouring their cash into. It would make Vlad blush !