Generic Sevco / Rangers meltdown thread

[gbhibby]

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Not sure it's that much of a story.

In cash terms, at best it's £1.93m. Not a lot in today's game.

However, I suspect it's (at least in part) another debt-for-equity swap. That way, FFP is kept at bay for now.

Noticed that Crops, I think they did the same last year as well.

[HoboHarry]

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Not sure it's that much of a story.

In cash terms, at best it's £1.93m. Not a lot in today's game.

However, I suspect it's (at least in part) another debt-for-equity swap. That way, FFP is kept at bay for now.

I'm not up to date on all of this but I believe the FSR has superseded the old FFP and my understanding is that clubs are meant to live within their football income and share issues like this aren't included. This smacks of an emergency cash injection to me. They are on the FSR watchlist and I personally think Park is getting out while he can. We'll see, maybe I'm completely wrong (hopefully completely correct) but I just don't believe anything those tramps say and I also believe their must be a damn good reason for Park giving up his throne.

[CropleyWasGod]

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I'm not up to date on all of this but I believe the FSR has superseded the old FFP and my understanding is that clubs are meant to live within their football income and share issues like this aren't included. This smacks of an emergency cash injection to me. They are on the FSR watchlist and I personally think Park is getting out while he can. We'll see, maybe I'm completely wrong (hopefully completely correct) but I just don't believe anything those tramps say and I also believe their must be a damn good reason for Park giving up his throne.

Their latest 6 monthly accounts are out shortly. That could help us understand.

I expect them to be pretty good, given the money from player sales. If they're not, then....

[gbhibby]

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Their latest 6 monthly accounts are out shortly. That could help us understand.

I expect them to be pretty good, given the money from player sales. If they're not, then....

If their accounts are healthy it seems a strange thing to do to dilute the value of the shares,

[Carheenlea]

The SFA have responded to Rangers complaints about refereeing decisions following Saturdays game.

Is this normal practice?

https://www.footballscotland.co.uk/s...ponse-26668040

[Hibernia&Alba]

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The SFA have responded to Rangers complaints about refereeing decisions following Saturdays game.

Is this normal practice?

https://www.footballscotland.co.uk/s...ponse-26668040

Did Entitled FC make a formal complaint, was it one of their crazy statements or some other method of saying "it isnae fair, we didnae win"?

[Bostonhibby]

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The SFA have responded to Rangers complaints about refereeing decisions following Saturdays game.

Is this normal practice?

https://www.footballscotland.co.uk/s...ponse-26668040

Were they demanding that only Beaton and Walsh be allowed to officiate at all Sevco games?

Roasters doesn't cover it......

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[Lendo]

https://www.bbc.co.uk/news/uk-scotland-65234008

They really are ****.

[HoboHarry]

Chairman Douglas Park and Sporting Director Ross Wilson both bolted within a week and just around the time the accounts are due I believe. Hope the entire disgrace of an entity is about to go tits up.

[Fuzzywuzzy]

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https://www.bbc.co.uk/news/uk-scotland-65234008

They really are ****.

I used to work with his wife. Really nice woman

[04Sauzee]

BREAKING! Rangers issue 3 million new shares as Ibrox club create cash boost opportunity

bit.ly/3GTvZNK

[Billy Whizz]

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BREAKING! Rangers issue 3 million new shares as Ibrox club create cash boost opportunity

bit.ly/3GTvZNK

Is this on top of the one from 2/3 weeks ago?

[HoboHarry]

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Is this on top of the one from 2/3 weeks ago?

If it is then I'd be willing to bet money it's to fill another financial hole. Hopefully they've attracted the attention of FSR (again) and they get banned from Europe next year.

[04Sauzee]

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Is this on top of the one from 2/3 weeks ago?

It is indeed

[HoboHarry]

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It is indeed

I'm struggling to see anything other than they are living off fumes at this time. God I hope so.

[tamig]

I wonder if they issue certificates and if its cash only 🤔

[Ozyhibby]

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I'm struggling to see anything other than they are living off fumes at this time. God I hope so.

Like last time, the real crunch will come of they miss out on euro group stages.


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[HoboHarry]

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Like last time, the real crunch will come of they miss out on euro group stages.


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I prefer to hope that these confetti share issues puts them in further trouble with FSR and they are refused entry into European competition completely.

[007]

Colin Beattie announced as their new FD!

[gbhibby]

Looked at Follow Follow and there are a number of their fans questioning what is going on with their club finances.

[CyberSauzee]

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Looked at Follow Follow and there are a number of their fans questioning what is going on with their club finances.

11+ years too late for the original club. Once bitten twice as stupid.

[Bostonhibby]

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Looked at Follow Follow and there are a number of their fans questioning what is going on with their club finances.

If I was them I'd probably walk away again, and say that this latest version of their club isn't rangers any more either.


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[gbhibby]

Whats CropleyWasGod take on this?
I wonder how much the had to pay to GVB and his management team when they sacked him, this could have been a big hit to monies made from Europe.

[Smartie]

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Whats CropleyWasGod take on this?
I wonder how much the had to pay to GVB and his management team when they sacked him, this could have been a big hit to monies made from Europe.

Whilst losing a manager in that way is costly and undesirable, I'd expect that it would probably be less significant for a club with Sevco's income and expenditure than it would for the likes of Hibs.

I expect they've probably borrowed a shedload on their "way up" on the promise that those who lent would be paid back when they're winning the league, getting to the finals of European competitions etc, only for them to want to spend the money they've earned via those routes on better players instead of paying their due moneys. That leads to a position where you have more going out than coming in (again) and shortfalls in cash that can be plugged in creative ways that only certain clubs ever seem to be willing / able to do.

[Kato]

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Is this on top of the one from 2/3 weeks ago?

It's an investment for the future, they will soon be able to pay debts from the past.

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[CropleyWasGod]

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Whats CropleyWasGod take on this?
I wonder how much the had to pay to GVB and his management team when they sacked him, this could have been a big hit to monies made from Europe.

I'm keeping my powder dry until the accounts come out. I am curious as to why there have been 2 (relatively minor) separate share issues in just a few weeks. Can't think why they weren't combined.

[HoboHarry]

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I'm keeping my powder dry until the accounts come out. I am curious as to why there have been 2 (relatively minor) separate share issues in just a few weeks. Can't think why they weren't combined.

Thought the accounts were out last week? I didn't read them (I wouldn't be able to understand them anyway :) ) but I thought I had read they were show a loss again?

[HoboHarry]

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I'm keeping my powder dry until the accounts come out. I am curious as to why there have been 2 (relatively minor) separate share issues in just a few weeks. Can't think why they weren't combined.

Phil Mac provided a link to them last week...

https://philmacgiollabhain.ie/wp-con...MARCH-2023.pdf

[CropleyWasGod]

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Phil Mac provided a link to them last week...

https://philmacgiollabhain.ie/wp-con...MARCH-2023.pdf

These have been out for a while.

There are 6-monthly accounts due, IIRC.

[HoboHarry]

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These have been out for a while.

There are 6-monthly accounts due, IIRC.

Even though the first page shows a date stamp of March 31st?