Sevco takeover confirmed

[Donegal Hibby]

That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/n...emiership-club

[Real Emerald]

According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

[TrinityHFC]

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That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/n...emiership-club

Investing £20m into the club through a share issue. Not necessarily to the transfer budget.

[Shrekko]

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That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/n...emiership-club

They're promising to 'invest' £20 million in the club. Doesn't say how it's being used.

[Mon Dieu4]

I'm sure Celtc are ****ing themselves, did they not have something like £75m just sat in the bank when their last results came out?

[Donegal Hibby]

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According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

I didn’t see that just read that the vast majority of the £20m was to be used on getting new players in , still don’t think it will be enough to challenge the other lot especially as they can spend double that if they want too .

[Bristolhibby]

Not good news for us, however you spin it.

J

[matty_f]

It’ll be interesting to see what Celtic do. They’re notorious for resting in their laurels and only spending what they need to, so I wouldn’t be surprised to see them get caught out next season.
They’ll then appease the fans by spending big the next season.

[evy]

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According to BBC news it’s a £20m share issue. Not exactly mega bucks is it?

Bought current shares for £75 mil from Dave King etc, then there'll be a new share issue in 3 weeks for the £20mil. Not a massive cash injection that will see them beat Celtic to the league next year, but will stop them going bust in the foreseeable and possibly allow them to buy better players to then sell-on etc

[Shrekko]

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I didn’t see that just read that the vast majority of the £20m was to be used on getting new players in

Where did you read that? It's not in any of the numerous 'newsflash' articles.

[Hibby Kay-Yay]

So double what Hearts got, and it doesn’t sound like it comes with a Commodore64 either.

[Posh Swanny]

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Not good news for us, however you spin it.

J

Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

[EGL2000]

Be interesting to see if they can take a step up and start spending more on players. Not great news for us however you look at it.

[CropleyWasGod]

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Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

It's different because it is different.

The 49ers part of the consortium are taking no more than 25% of the club, similar to BKFC. The other partner (the Cavenagh part) have more than that.

Together, it's a 51% stake.

( to be cut and pasted every time this comes up )

[TrinityHFC]

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Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

They don’t have a majority ownership in common with another club though. It is a consortium.

[Real Emerald]

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Bought current shares for £75 mil from Dave King etc, then there'll be a new share issue in 3 weeks for the £20mil. Not a massive cash injection that will see them beat Celtic to the league next year, but will stop them going bust in the foreseeable and possibly allow them to buy better players to then sell-on etc

£20m by means of a share issue isn’t really the massive cash injection they were expecting. They’ll definitely be in for Shankland again now as he’ll cost them nothing. 😂

[Posh Swanny]

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It's different because it is different.

The 49ers part of the consortium are taking no more than 25% of the club, similar to BKFC. The other partner (the Cavenagh part) have more than that.

Together, it's a 51% stake.

( to be cut and pasted every time this comes up )

Got it.

[Donegal Hibby]

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Where did you read that? It's not in any of the numerous 'newsflash' articles.

I can’t find it now though did read that there was £20m and the vast majority of it was going on new players . Different article than I previously read stating it’s going on the footballing side of the club ….

https://www.irishexaminer.com/sport/...-41642380.html

[HoboHarry]

The Daily Record reading section of the Sevco support will be thrilled, any others with a reading comprehension greater than that of a 14 year old will see that this doesn't amount to a whole lot in the large scheme of things.

[Thatdayinmay16]

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Is the door is now open for Black Knight to buy a majority shareholding in the club, should the Gordon's ever wish to exit? Or is it one of those "this is different because... Old Firm" situations?

I think there was talks at the time of the investment by BKFC that if they wanted to acquire a majority stake the SFA would look at relaxing the rules, no idea if BKFC will ever acquire a majority stake however.

[Shrekko]

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I can’t find it now though did read that there was £20m and the vast majority of it was going on new players . Different article than I previously read stating it’s going on the footballing side of the club ….

https://www.irishexaminer.com/sport/...-41642380.html

Fair enough, but that article is at odds with the actual quote in the new owners 'open letter' to their fans saying '"As our first step, we are investing fresh capital into Rangers, which will be strategically deployed on and off the pitch...'

Their fans must be a bit underwhelmed.

[Centre Hawf]

It's £20m they didn't have yesterday so already they're in a better place than they were in before this.

Beating Celtic isn't a million miles away for them in reality. Celtic wobbling would be beneficial of course but in reality the first thing they have to do is just get a competent group together to consistently beat the rest of us. They lost 6 games against the rest this season and if they can flip even 3 of them and a couple of their 8 draws against folk that weren't Celtic all of a sudden that league title race goes into the 90 point region.

[Since452]

It won't change much. Rangers will pull away slightly from Hibs but still be miles behind Celtic.

[tamig]

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It's different because it is different.

The 49ers part of the consortium are taking no more than 25% of the club, similar to BKFC. The other partner (the Cavenagh part) have more than that.

Together, it's a 51% stake.

( to be cut and pasted every time this comes up )

I think you’ve cut and pasted it countless times since the story first emerged!

[Billy Whizz]

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That’s the takeover confirmed with new owners promising £20million to the transfer budget…

https://www.skysports.com/football/n...emiership-club

It’s new shares they are issuing to raise £20m

[erin go bragh]

20m😬 Unfortunately the figure they are meant to be receiving from the 49's is 190m minimum as previously reported.

[HoboHarry]

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20m😬 Unfortunately the figure they are meant to be receiving from the 49's is 190m minimum as previously reported.

Reported by half wit journalists trying to sell newspapers to half wit Sevco fans maybe. I posted this link to Phil Mac before but if it's accurate then it's a good insight into who the main players are and they are certainly not off the radar wealthy. More disappointment incoming for all who sail on HMS Sevco.

[Real Emerald]

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It’s new shares they are issuing to raise £20m

I may be oversimplifying this in my mind but it looks like the previous owners pocket £75m and the investment of £20m is coming from a share issue bought by who knows who (the fans)? Something that could have been done without a takeover? Or am I missing something?

[NAE NOOKIE]

Whatever the ins and outs Sevco are in a better position than they were yesterday. If this lot own the San Francisco 49rs then they are obviously minted ............ billionaires own NFL franchises, not millionaires ...... so who knows what they will be prepared to chuck at this in the long run.

What pisses me off is that none of these people can sit down and see the value in investing in a club who might be able to challenge the status quo, rather than enabling one of a cabal who have all but monopolised Scottish football for over a century to keep that monopoly going.
Especially when these same people own a club in a sports league that is specifically engineered to ensure a situation such as we have in this country can't happen. I wonder how many folk would be watching the NFL if only the Cowboys and 49ers had won the superbowl in the last 40 plus years.

I wonder what research they have done into the social aspect that inspired them to sink millions into a club fined by UEFA for bigoted behaviour in the past and has had other clubs in the same league cutting their ticket allocation as a reaction to the sectarian bile spewing from the away end whenever they visit.

If Aberdeen winning the cup last week was bad for Hibs, but good for Scottish football. Then this investment is good for Sevco and a bloody disaster for the rest of us.

I love the NFL but don't particularly dislike any team ( perhaps the Cowboys ) now at least I can hate the 49ers whenever they play. Oh and the Buccaneers because their owners have totally destroyed my brothers club

[Billy Whizz]

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I may be oversimplifying this in my mind but it looks like the previous owners pocket £75m and the investment of £20m is coming from a share issue bought by who knows who (the fans)? Something that could have been done without a takeover? Or am I missing something?

Don’t know the 1st bit, but BBC reporting the below. Maybe the shareholders didn’t want to buy any more shares

“The club says £20m of new investment will be made available in the summer following a share issue.”