Generic Sevco / Rangers meltdown thread

[Fife-Hibee]

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Next season’s Sevco kit.


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😂😂😂

[Keith_M]

Newspaper reports on the court case


Scotsman


Herald



Daily Record.....

[HoboHarry]

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Newspaper reports on the court case


Scotsman


Herald



Daily Record.....

BBC hasn't been much better in all honesty. Are they all that terrified that they'll get their window put in?

[brog]

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https://www.thescottishsun.co.uk/new...mpression=true


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I'm struggling to understand the bit about Morelos. It says the Chinese Club were prepared to meet "Ranger's" valuation but no bid was received! Seems like SSN are making it up.

[jacomo]

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Anyone believing that (A) this 'bid' of £30m for Morelos actually exists and that (B) Morelos voluntarily turned down approx £200,00pw to stay on £20-30,000pw - has the IQ to be a Hun !. Lbh, if it emerged later on that there was a 'mistake in the translation' and the actual figure was £1.5m then that would be a more accuarate and believeable bid for the jug-eared, petted-lip buffoon in this day and age of silly-money on transfer-fees !


Unsurprisingly, over on Hun-media (that top-quality site of even-balanced, intelligent and articulate views ...) does have a thread on Traynor's latest distraction re Morelos but nothing whatsoever (that I can find) on the SD case - so it's not just their board that does the !

Even the **** story has a subtext of ‘hey, we’re just writing what we’ve been told, we don’t believe a word of it’

They don’t even bother to explain where the £30m figure comes from... £15m transfer fee plus £10m contract adds up to...?

Mind you, last time a BBC journo actually did some work and cast doubt on these ‘bids’ he was forced to make a grovelling apology and damage his career.

[HoboHarry]

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I'm struggling to understand the bit about Morelos. It says the Chinese Club were prepared to meet "Ranger's" valuation but no bid was received! Seems like SSN are making it up.

Or the fat controller Jim Traynor if feeding them s***e as usual.....

[Deansy]

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Surely they could have been a bit more original than use the same widely ridiculed story as last year's.

You can't say their board don't know their target audience - a large % of Hun are still excited/looking forward to the first brick of their '£120m casino and hotel complex' being laid !


http://news.bbc.co.uk/1/hi/scotland/4264114.stm

[jacomo]

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You can't say their board don't know their target audience - a large % of Hun are still excited/looking forward to the first brick of their '£120m casino and hotel complex' being laid !


http://news.bbc.co.uk/1/hi/scotland/4264114.stm

They don’t need a casino now they have owners who regularly gamble with the clubs future.

[Ozyhibby]

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[HoboHarry]

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I honestly don't get it. The dafties who print this rubbish must surely have realized by now that the very internet they are using will be used by others to discredit their nonsense?

[PatHead]

They really had me fooled as well.

[Joe6-2]

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It says on BBC Scotland gossip that they met Rangers valuation of £15 million for him

Said with a straight face!

[jacomo]

Stevie G has now confirmed there was no bid for Morelos.

Will the club now turn on their own manager and force him to make a humiliating retraction of his comments, as they did to that BBC journalist last year?

https://mobile.twitter.com/kheredine...283584?lang=en

[PatHead]

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I honestly don't get it. The dafties who print this rubbish must surely have realized by now that the very internet they are using will be used by others to discredit their nonsense?

It's like Trump or Boris. Shout something really loud and the people that want to believe it will. It then becomes a FACT.

[Bishop Hibee]

Newco being ordered to pay Sports Direct £450,000 is hopefully the tip of the iceberg. Loving it.

[Keith_M]

In regards to regurgitated stories from Ibrox...

I see they're now claiming (again) that they're going to rebuild part of Ibrox to increase capacity.

That was one of the fake distraction stories used by Murray to deflect from the fact his club were going down the pan. The last time they claimed they were increasing capacity to 60,000.

[PatHead]

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Newco being ordered to pay Sports Direct £450,000 is hopefully the tip of the iceberg. Loving it.

Is that the legal fees or the settlement?

[Stonewall]

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Is that the legal fees or the settlement?

i think it is a proportion of SDIs legal fees.

[Keith_M]

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Is that the legal fees or the settlement?

Legal Fees. The settlement will be much larger.

[GloryGlory]

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Legal Fees. The settlement will be much larger.

Presumably Hummel will want their money back too, and the fans who bought the replica kits will want it back too.

[Ozyhibby]

If they go into admin again, what percentage is needed in a vote for them to get a CVA? With all the directors loans now converted to shares, the money owed now is to Close Brothers and very soon to Sports Direct. Close Brothers is secured so they will want paid in full no doubt.


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[JeMeSouviens]

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If they go into admin again, what percentage is needed in a vote for them to get a CVA? With all the directors loans now converted to shares, the money owed now is to Close Brothers and very soon to Sports Direct. Close Brothers is secured so they will want paid in full no doubt.


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Is Close Bros debt to "The Rangers Football Club Limited" (formerly Sevco Scotland) aka the actual football club that holds the SPFL share etc. or to "The Rangers International Football Club plc", which wholly owns TRFC Ltd?

I suspect that if they go bust they will try and shift TRFC ltd onto new owners while ditching the debt in TRIFC plc. So the club itself wouldn't be liquidated and no need for "Third Rangers".

[Billy Whizz]

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Is Close Bros debt to "The Rangers Football Club Limited" (formerly Sevco Scotland) aka the actual football club that holds the SPFL share etc. or to "The Rangers International Football Club plc", which wholly owns TRFC Ltd?

I suspect that if they go bust they will try and shift TRFC ltd onto new owners while ditching the debt in TRIFC plc. So the club itself wouldn't be liquidated and no need for "Third Rangers".

You mean like what Hearts did

[Ozyhibby]

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Is Close Bros debt to "The Rangers Football Club Limited" (formerly Sevco Scotland) aka the actual football club that holds the SPFL share etc. or to "The Rangers International Football Club plc", which wholly owns TRFC Ltd?

I suspect that if they go bust they will try and shift TRFC ltd onto new owners while ditching the debt in TRIFC plc. So the club itself wouldn't be liquidated and no need for "Third Rangers".

It’s secured on the stadium though so it’s still needs paid.


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[jacomo]

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Presumably Hummel will want their money back too, and the fans who bought the replica kits will want it back too.

This will probably increase sales of Hummel shirts if anything. This season’s will become a collectors item.

Who knows what the terms are for the rest of the contract though. If Sevco negotiated as badly as they did with Ashley then they are even bigger trouble.

This really is a massive story and we will see if the media treat it as such.

[Joe6-2]

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This will probably increase sales of Hummel shirts if anything. This season’s will become a collectors item.

Who knows what the terms are for the rest of the contract though. If Sevco negotiated as badly as they did with Ashley then they are even bigger trouble.

This really is a massive story and we will see if the media treat it as such.

What’s the chances of them going bust?

[Stonewall]

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It’s secured on the stadium though so it’s still needs paid.


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Sorry Ozy but do we know for certain that the Close Brothers loan is still outstanding?

As I understand it, the loan was taken out to tide Rangers over till the ST money started rolling in.

Close Brothers being a lender of last resort, the terms were exacting and punitive. In Ranger’s interests to pay it back promptly I think.

[greenginger]

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Sorry Ozy but do we know for certain that the Close Brothers loan is still outstanding?

As I understand it, the loan was taken out to tide Rangers over till the ST money started rolling in.

Close Brothers being a lender of last resort, the terms were exacting and punitive. In Ranger’s interests to pay it back promptly I think.

There are three charges due to Close Brothers still noted as outstanding against The Rangers Football Club on the Companies House site.

The loans are still outstanding.

[Billy Whizz]

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There are three charges due to Close Brothers still noted as outstanding against The Rangers Football Club on the Companies House site.

The loans are still outstanding.

How much

[jacomo]

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What’s the chances of them going bust?

Who knows?

If they were a normal business you would say they look to be in considerable trouble. Football of course is not a normal business.

However, we do know that getting to the Europa League group stage is non negotiable for them, because even their own highly optimistic projections count on income from European matches to make the sums add up.

Add to that expensive legal dispute with Ashley and real uncertainty about future replica kit sales.