Generic Sevco / Rangers meltdown thread

**~~Deansy~~** · 13-06-2019 09:12 PM

Originally Posted by HoboHarry

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The SDIR vs The Rangers is protected and that's the one that's curious. I don't get how he can know anything when no-one else of printing a thing. Doesn't add up......

Is this what you're talking about ?

A Cluster**** of an Omnishambles at Ibrox

The ‘new improved’ retail deal has had its wheels fall off after a matter of hours. The following club statement revealed all:
“Supporters will appreciate that, in advance of last week’s successful conclusion of new commercial arrangements between Rangers and Sports Direct, demand for replica shirts and other products was low as a result of the boycott. Accordingly only limited amounts of stock were immediately available and we understand that the vast majority of what was available has already been sold. Unfortunately this means that we are not anticipating any further deliveries of Replica kit to the Megastore in advance of Thursday’s game. Rangers are liaising with PUMA on the production and sale of new batches of replica kit but this will unfortunately take some time to produce. We are currently working with our partners to ascertain what can be achieved and will let supporters know as soon as we have reliable dates. We apologise for any inconvenience and thank our supporters for their revived interest in the Club’s retail products.”
You could not make it up. It’s high farce. King was trumpeting how the ‘new’ deal would deliver £5m to the beleaguered new club, when lo and behold the laughing stock had sold out and the chances of new stock being produced to meet the ‘revived’ interest are somewhere between no hope and Bob Hope.
There is a fundamental flaw in King’s lying. He is not smart enough to see the big picture. He is a tactical liar with a limited grasp of strategic mendacity.
__________________________________________________ ________________
The preface to this article is an excerpt from a piece I published on the 30th June 2017. Mike Ashley has never met King. The fake news that he did originated in Donegal. However he saw King coming. Ashley invited King to Shirebrook on the pretext of renegotiating the Rangers Retail agreement. King flew in from Johannesburg to find that Ashley ‘had been called away on urgent business’ and when he later arrived at Glasgow Central he was formally served apropos Contempt of Court proceedings. Had it not been for a discredited judge, Peter Smith, who ‘retired’ on the 27th October 2017 a couple of days prior to his disciplinary hearing, King would have been imprisoned.
King’s consigliere, James Blair, has been so compromised by his involvement with the new club that he was tapped on the shoulder at Anderson Strathern and ‘invited’ to relinquish his partnership. Blair was initially perceived as a rainmaker but when this rain became acidic he had to go. Blair created an affidavit which stated that King was speaking to Jim White in the manner of one chum to another and not ex cathedra viz as the self-appointed Chairman of the holding company. Which begs the question as to why White and a skeletal crew flew to Johannesburg when he could have caught up with his old chum on Skype? When King boasted of having a cellar containing 28,000 bottles of wine, it later became apparent that he had ‘boosted’ same from his sequestrated Winery. Every last bottle was repossessed by the new owner.
King is not an intelligent man. He is not Teflon coated. He was merely a white European in a country where his rudimentary education and the colour of his skin gave him an edge. When those from the disadvantaged minority ( electoral representation) were given the levers of business and state, they had no business training. They were ripe for exploitation by King. Umgeni Water was his first big score courtesy of two bribes; one to a fellow fake accountant well met viz Ian Gregory Morris
It was relatively easy for King to pull the wool over The Takeover Panel’s eyes. James Blair became familiar with the City Code and spotted a loophole. King could sell shares to his cronies and keep the disadvantaged shareholders at bay. Now that they have been dealt with, he and his concert party have plans to breach the 50% threshold which would ordinarily compel them to make an offer to The Easdale brothers and others to procure the entire company.
King does not want to pay a red cent to James and Sandy. His Whitewash Resolution will rinse same.
The Easdale brothers were smart. When they required a £10m line of credit, Ashley obliged. The intellectual property was used as collateral. SDIR also shaved a few points off the Rangers Retail disbursements.
King and his carpetbagging cronies have used the kitchen sinks as collateral with Close Asset Management and are paying a much higher price for a fraction of the quantum that was available to the Easdales.
Those who agitated for change at Ibrox have all been rewarded. Our favourite pop-up director and fake communications supremo ( he had no experience whatsoever and it showed) is now employed as a ‘consultant’ to Club 1872. He is paid by King to squeeze every last penny from the Gullibillies.
Halloween Houston now sells Tequila cocktails. John Gilligan opened doors for him. John Brown has access to the Argyle Suite and comes a valiant second to Big Fat Derek Johnstone in the nosebag stakes. I am confident that there is no truth in the rumour that when the new club finds the net, flakes of pastry can be seen fluttering from Derek’s club blazer. His ‘doggy bags’ are the stuff of legend. Does he keep corgis at his Helensburgh home?
Mike Ashley wiped the floor with King and Blair. With a new season just weeks away the only Replica kits that are available are those that were manufactured by Puma.
Justice Teare’s decision on Elite has not been overturned. King and Blair have a manufacturer in place but no retail partner. King and Blair’s getaway car has had all four wheels removed and is propped up by bricks.
It’s a cluster**** of an omnishambles but then what did one expect from a corporate criminal like King?

***Spike Mandela*** · 13-06-2019 09:54 PM

Originally Posted by Deansy

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Is this what you're talking about ?

A Cluster**** of an Omnishambles at Ibrox

The ‘new improved’ retail deal has had its wheels fall off after a matter of hours. The following club statement revealed all:
“Supporters will appreciate that, in advance of last week’s successful conclusion of new commercial arrangements between Rangers and Sports Direct, demand for replica shirts and other products was low as a result of the boycott. Accordingly only limited amounts of stock were immediately available and we understand that the vast majority of what was available has already been sold. Unfortunately this means that we are not anticipating any further deliveries of Replica kit to the Megastore in advance of Thursday’s game. Rangers are liaising with PUMA on the production and sale of new batches of replica kit but this will unfortunately take some time to produce. We are currently working with our partners to ascertain what can be achieved and will let supporters know as soon as we have reliable dates. We apologise for any inconvenience and thank our supporters for their revived interest in the Club’s retail products.”
You could not make it up. It’s high farce. King was trumpeting how the ‘new’ deal would deliver £5m to the beleaguered new club, when lo and behold the laughing stock had sold out and the chances of new stock being produced to meet the ‘revived’ interest are somewhere between no hope and Bob Hope.
There is a fundamental flaw in King’s lying. He is not smart enough to see the big picture. He is a tactical liar with a limited grasp of strategic mendacity.
__________________________________________________ ________________
The preface to this article is an excerpt from a piece I published on the 30th June 2017. Mike Ashley has never met King. The fake news that he did originated in Donegal. However he saw King coming. Ashley invited King to Shirebrook on the pretext of renegotiating the Rangers Retail agreement. King flew in from Johannesburg to find that Ashley ‘had been called away on urgent business’ and when he later arrived at Glasgow Central he was formally served apropos Contempt of Court proceedings. Had it not been for a discredited judge, Peter Smith, who ‘retired’ on the 27th October 2017 a couple of days prior to his disciplinary hearing, King would have been imprisoned.
King’s consigliere, James Blair, has been so compromised by his involvement with the new club that he was tapped on the shoulder at Anderson Strathern and ‘invited’ to relinquish his partnership. Blair was initially perceived as a rainmaker but when this rain became acidic he had to go. Blair created an affidavit which stated that King was speaking to Jim White in the manner of one chum to another and not ex cathedra viz as the self-appointed Chairman of the holding company. Which begs the question as to why White and a skeletal crew flew to Johannesburg when he could have caught up with his old chum on Skype? When King boasted of having a cellar containing 28,000 bottles of wine, it later became apparent that he had ‘boosted’ same from his sequestrated Winery. Every last bottle was repossessed by the new owner.
King is not an intelligent man. He is not Teflon coated. He was merely a white European in a country where his rudimentary education and the colour of his skin gave him an edge. When those from the disadvantaged minority ( electoral representation) were given the levers of business and state, they had no business training. They were ripe for exploitation by King. Umgeni Water was his first big score courtesy of two bribes; one to a fellow fake accountant well met viz Ian Gregory Morris
It was relatively easy for King to pull the wool over The Takeover Panel’s eyes. James Blair became familiar with the City Code and spotted a loophole. King could sell shares to his cronies and keep the disadvantaged shareholders at bay. Now that they have been dealt with, he and his concert party have plans to breach the 50% threshold which would ordinarily compel them to make an offer to The Easdale brothers and others to procure the entire company.
King does not want to pay a red cent to James and Sandy. His Whitewash Resolution will rinse same.
The Easdale brothers were smart. When they required a £10m line of credit, Ashley obliged. The intellectual property was used as collateral. SDIR also shaved a few points off the Rangers Retail disbursements.
King and his carpetbagging cronies have used the kitchen sinks as collateral with Close Asset Management and are paying a much higher price for a fraction of the quantum that was available to the Easdales.
Those who agitated for change at Ibrox have all been rewarded. Our favourite pop-up director and fake communications supremo ( he had no experience whatsoever and it showed) is now employed as a ‘consultant’ to Club 1872. He is paid by King to squeeze every last penny from the Gullibillies.
Halloween Houston now sells Tequila cocktails. John Gilligan opened doors for him. John Brown has access to the Argyle Suite and comes a valiant second to Big Fat Derek Johnstone in the nosebag stakes. I am confident that there is no truth in the rumour that when the new club finds the net, flakes of pastry can be seen fluttering from Derek’s club blazer. His ‘doggy bags’ are the stuff of legend. Does he keep corgis at his Helensburgh home?
Mike Ashley wiped the floor with King and Blair. With a new season just weeks away the only Replica kits that are available are those that were manufactured by Puma.
Justice Teare’s decision on Elite has not been overturned. King and Blair have a manufacturer in place but no retail partner. King and Blair’s getaway car has had all four wheels removed and is propped up by bricks.
It’s a cluster**** of an omnishambles but then what did one expect from a corporate criminal like King?

Yip, that’s the one cheers.

***JimBHibees*** · 14-06-2019 05:27 AM

Originally Posted by nairn hibee

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How on Earth did other clubs agree to this 5 way agreement,surely Rangers were in no position to bargain

The clubs and SFA wanted Rangers back in and seem to have contrived a way to brush the issue under the carpet. Celtic may bleat about it to appease their fans but IMO there is no way on this earth that their paws weren't all over the decision to agree to this.

***BILLYHIBS*** · 14-06-2019 05:48 AM

Where is CWG?

He was/is the Sevco expert!

**Ronniekirk** · 14-06-2019 07:34 AM

What I think is significant to date is their dealings in the Transfer market They already appear to be settling to try and consolidate finishing second in the League again by bringing in players like Greg Stewart I know it’s early days in the Transfer market but their dealings will be one barometer of their Financial I’ll Health
If they don’t do as well in Europe this Season as last that will be another Financial Blow

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**HIGHLANDLEITHER** · 14-06-2019 09:34 AM

Originally Posted by Ozyhibby

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There is no way there is anything on there that the SFM guys or the res 12 guys don’t know and would share for free.

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JJ has provided an addendum explaining how the judgement is handed down.

***Tynie01011973*** · 14-06-2019 09:44 AM

Originally Posted by CentreLine

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It seems to be protected somehow. Won’t open for me at least

SFA 'to make decision on Rangers UEFA Licence' before end of the year

PATRICK MCPARTLIN
Email
Published: 10:03
Thursday 13 June 2019

311
HAVE YOUR SAY

The Scottish Football Association will make a decision before the end of the year whether to pursue Rangers in connection with "alleged irregularities" in the Ibrox club's application for a UEFA licence in 2011, according to reports.

Two years ago, the SFA tasked then compliance officer Tony McGlennan, with launching an investigation into the application.

Rangers are understood to have had an unpaid tax liability at the time the application was submitted which, had it been disclosed, would have almost certainly voided the application with Celtic instead competing in the early qualifying rounds of the Champions League.

The Times states that Rangers claim the Five-Way Agreement, "signed in 2012 by the SFA, Scottish Premier League, Scottish Football League, the old Rangers and the new club set up by Charles Green" means that Scottish football's governing body has no jurisdiction in the matter.

Last July, the Association's judicial panel agreed, and indicated that the case would be referred to the Court of Arbitration for Sport (CAS) in Switzerland, if they decided to punish the club.

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SFA chief executive Ian Maxwell told The Times: "I would expect that to come back to the board in the not too distant future.

“It [going to CAS] is still under consideration. We’ll come back on that in due course. I wouldn’t want to put a timescale on it... but I don’t think we would let it go for ever.”

**Ronniekirk** · 14-06-2019 10:23 AM

Originally Posted by Tynie01011973

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SFA 'to make decision on Rangers UEFA Licence' before end of the year

PATRICK MCPARTLIN
Email
Published: 10:03
Thursday 13 June 2019

311
HAVE YOUR SAY

The Scottish Football Association will make a decision before the end of the year whether to pursue Rangers in connection with "alleged irregularities" in the Ibrox club's application for a UEFA licence in 2011, according to reports.

Two years ago, the SFA tasked then compliance officer Tony McGlennan, with launching an investigation into the application.

Rangers are understood to have had an unpaid tax liability at the time the application was submitted which, had it been disclosed, would have almost certainly voided the application with Celtic instead competing in the early qualifying rounds of the Champions League.

The Times states that Rangers claim the Five-Way Agreement, "signed in 2012 by the SFA, Scottish Premier League, Scottish Football League, the old Rangers and the new club set up by Charles Green" means that Scottish football's governing body has no jurisdiction in the matter.

Last July, the Association's judicial panel agreed, and indicated that the case would be referred to the Court of Arbitration for Sport (CAS) in Switzerland, if they decided to punish the club.

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Subscribe today
SFA chief executive Ian Maxwell told The Times: "I would expect that to come back to the board in the not too distant future.

“It [going to CAS] is still under consideration. We’ll come back on that in due course. I wouldn’t want to put a timescale on it... but I don’t think we would let it go for ever.”

Yep why deal with something when it can get put off and allow them to participate this year earning them more money
The length of time these things take and money spent in Courts is astounding
King has used this to his advantage to keep the Club afloat

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***Ozyhibby*** · 15-06-2019 05:13 PM

https://www.bailii.org/ew/cases/EWHC...2019/1419.html

The decision. Looks like a heavy loss plus legal costs for Sevco.

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***Billy Whizz*** · 15-06-2019 05:24 PM

Originally Posted by Ozyhibby

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https://www.bailii.org/ew/cases/EWHC...2019/1419.html

The decision. Looks like a heavy loss plus legal costs for Sevco.

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Looks like they only way they can get out of the Ashley deal is Admin

***Ozyhibby*** · 15-06-2019 05:28 PM

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***Billy Whizz*** · 15-06-2019 05:37 PM

Originally Posted by Ozyhibby

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What contracts have Rangers broken, Ozy?

***Ozyhibby*** · 15-06-2019 06:44 PM

Originally Posted by Billy Whizz

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What contracts have Rangers broken, Ozy?

I think this is in relation to not allowing SDI the chance to match any new deal.

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**HIGHLANDLEITHER** · 16-06-2019 08:37 AM

Originally Posted by Ozyhibby

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I think this is in relation to not allowing SDI the chance to match any new deal.

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JJ has produced a full analysis of the court papers cutting through the jargon. It is a password protected piece. I suspect that it will not be investigated by any other journalist and even if it is they will not have the cojones to print it.

***Jack Hackett*** · 16-06-2019 11:13 AM

Originally Posted by Ozyhibby

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https://www.bailii.org/ew/cases/EWHC...2019/1419.html

The decision. Looks like a heavy loss plus legal costs for Sevco.

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I note with interest that EWHC have given The new Rangers their proper new name of 'The' Rangers... Refreshing!

**HoboHarry** · 16-06-2019 03:11 PM

Originally Posted by Ozyhibby

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I think this is in relation to not allowing SDI the chance to match any new deal.

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Not sure about that Ozy, I thought this was to do with sevco opening their own stores and selling merchandise without involving MA. I think the company managing it are Elite?

***Billy Whizz*** · 16-06-2019 06:10 PM

Originally Posted by HoboHarry

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Not sure about that Ozy, I thought this was to do with sevco opening their own stores and selling merchandise without involving MA. I think the company managing it are Elite?

I think it was around what Ozy said, HH?
Something to do with matching rights

***CyberSauzee*** · 16-06-2019 06:26 PM

Phil Mac posted a few a couple of more things. Forgot about the memorial company suing The Rangers.

https://philmacgiollabhain.ie/2019/0...ance-in-court/

https://philmacgiollabhain.ie/2019/0...ion-pound-man/

***Ozyhibby*** · 16-06-2019 08:11 PM

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**FilipinoHibs** · 21-06-2019 05:45 AM

Where have we heard this before? Usually company does this when in trouble and revenues do not match expenditure. Shares usually end up being nearly worthless and wiping out lenders loan. A step taken to avoid administration. Just saying like!

**HoboHarry** · 21-06-2019 11:09 AM

Originally Posted by SingHibs

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Where have we heard this before? Usually company does this when in trouble and revenues do not match expenditure. Shares usually end up being nearly worthless and wiping out lenders loan. A step taken to avoid administration. Just saying like!

My understanding of all of this is limited but as I understand it the concert party now own 54% of the shares and everyone else's shares have been diluted. I still don't get what the end game is for King though - does he really think that he's going to find a buyer who is going to waste millions buying the club from him? Any prospective owner would be better buying Celtic.

***Hibernia&Alba*** · 14-07-2019 09:41 AM

If this thread going back to the top of the forum doesn't draw out CWG, nothing will

So The Rangers have just spent £3.5 million or so on a new centre-back. Where is this coming from: is it more soft loans from the glib and shameless liar? I would imagine their season ticket money is eaten up by squad wages.

Are they up to their old tricks again, reportedly £30 million or so in debt already? The football authorities should be watching them like hawks.

***Spike Mandela*** · 14-07-2019 09:44 AM

Originally Posted by Hibernia&Alba

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If this thread going back to the top of the forum does draw out CWG, nothing will

So The Rangers have just spent £3.5 million or so on a new centre-back. Where is this coming from: is it more soft loans from the glib and shameless liar? I would imagine their season ticket money is eaten up by squad wages.

Are they up to their old tricks again, reportedly £30 million or so in debt already? The football authorities should be watching them like hawks.

Who is reporting this though and has the fee been challenged? I don't believe this one bit.

***Ozyhibby*** · 14-07-2019 09:47 AM

Originally Posted by Hibernia&Alba

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If this thread going back to the top of the forum does draw out CWG, nothing will

So The Rangers have just spent £3.5 million or so on a new centre-back. Where is this coming from: is it more soft loans from the glib and shameless liar? I would imagine their season ticket money is eaten up by squad wages.

Are they up to their old tricks again, reportedly £30 million or so in debt already? The football authorities should be watching them like hawks.

CWG hasn’t posted for months.
Who knows with Sevco, they defy financial gravity. The old Rangers did that as well for a while. And then they didn’t.

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***Hibernia&Alba*** · 14-07-2019 09:48 AM

Originally Posted by Spike Mandela

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Who is reporting this though and has the fee been challenged? I don't believe this one bit.

SSN reporting it at around £3.5 million. Eyebrows should be raised by the high heid yins.

**Ronniekirk** · 14-07-2019 12:25 PM

Originally Posted by Hibernia&Alba

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SSN reporting it at around £3.5 million. Eyebrows should be raised by the high heid yins.

They really aren’t that bothered The Plan was always to allow The Rangers to get back to being able to challenge Celtic They haven’t reached that standard yet so they will get another few seasons yet overspending imo
Even Rod won’t make a difference

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***Jack Hackett*** · 14-07-2019 12:32 PM

Originally Posted by Hibernia&Alba

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If this thread going back to the top of the forum doesn't draw out CWG, nothing will

So The Rangers have just spent £3.5 million or so on a new centre-back. Where is this coming from: is it more soft loans from the glib and shameless liar? I would imagine their season ticket money is eaten up by squad wages.

Are they up to their old tricks again, reportedly £30 million or so in debt already? The football authorities should be watching them like hawks.

Season ticket money is in. It's like back in the day when people got their wage packets at the end of the week and would spend a big chunk of it on Fri/Sat night then struggle through 'til the next one

**~~Deansy~~** · 14-07-2019 02:30 PM

Originally Posted by Ronniekirk

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They really aren’t that bothered The Plan was always to allow The Rangers to get back to being able to challenge Celtic They haven’t reached that standard yet so they will get another few seasons yet overspending imo
Even Rod won’t make a difference

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God forbid the dark day that would dawn if those s*um ever won the league but if they did I predict the first GFA statement will be -

"We're absolutely shocked - we had no idea whatsoever they'd run up that amount of debt !"

- when the Hun declares admin/bankruptcy immediately upon confirmation the title's been 'won' !