Norm Posted February 20, 2017 Share Posted February 20, 2017 I'd be that ectoplasmic spooky ghost Randy Marsh picture if they admin again. Sadly, I just don't see it happening. Mainly because I don't think life could be so kind. It's too good to be true for Rangers to go through it all again. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted February 20, 2017 Share Posted February 20, 2017 (edited) I think that's 137 times admin 2 has been claimed since Sevco was formed. Edit: And given how shit they are, long may the current board reign at Ibronx. Edited February 20, 2017 by Geoff Kilpatrick Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted February 20, 2017 Share Posted February 20, 2017 Interesting for what it doesn't sayOur members have questions. We've put those questions to the board. The board have told us stuff. We'll keep you abreast of more stuff as it comes in. Chin up. Follow, Follow. Link to comment Share on other sites More sharing options...
janjo1874 Posted February 20, 2017 Share Posted February 20, 2017 . Link to comment Share on other sites More sharing options...
Footballfirst Posted February 20, 2017 Share Posted February 20, 2017 They wanted to have a share issue to help clear the debts, they are unable to do so until the court cases come to fruition. That's not strictly true. They have tried to disapply pre-emption rights for a share issue at each of the last two AGMs and failed to get sufficient shareholder support to do so. There is nothing left in the Fraudco case that relates to the Newco, so that is no longer an obstacle. There are two obstacles that, if removed, would help them raise cash. The most important one is for King to step aside to remove the toxicity related to him personally, and the other is to get themselves a Nomad and a listing on a stock exchange. Link to comment Share on other sites More sharing options...
Jambo dans les Pyrenees Posted February 20, 2017 Share Posted February 20, 2017 I think that's 137 times admin 2 has been claimed since Sevco was formed. Edit: And given how shit they are, long may the current board reign at Ibronx. And I've loved every 1 of the 137. Because it might be true. And if it isn't, it means that the crooks and morons in charge are not doing entirely well. Both options are pleasing. Link to comment Share on other sites More sharing options...
marshallschunkychicken Posted February 20, 2017 Share Posted February 20, 2017 5th largest shareholder has issued a statement, of sorts http://club1872.co.uk/news/club-1872-statement-on-members-concerns/ That's an incredibly long winded way of saying precisely nothing. Link to comment Share on other sites More sharing options...
Norm Posted February 20, 2017 Share Posted February 20, 2017 I think that's 137 times admin 2 has been claimed since Sevco was formed. Yup. I'm at the stage where I refuse to believe it until the admin equivalent of scarf above heid. I will say though, that the thought of Rangers being liquidated again just popped in to my mind as I walked off the bus. I don't see Rangers going proper bust again ever happening but just the simple idea made me actually burst in to a proper chuckle. Folk at the bus stop were giving me funny looks! Link to comment Share on other sites More sharing options...
Jambo dans les Pyrenees Posted February 20, 2017 Share Posted February 20, 2017 That's an incredibly long winded way of saying precisely nothing. "Erm, we are a bit worried but don't want to admit it. Some gadgey has said he will meet us, and since wearrapeepul, we thus assume everything will be fine. All that's needed us Uncle Walter and a massive war chezst, surely?" Link to comment Share on other sites More sharing options...
Alwayssunnyingorgie Posted February 20, 2017 Share Posted February 20, 2017 Yup. I'm at the stage where I refuse to believe it until the admin equivalent of scarf above heid. I will say though, that the thought of Rangers being liquidated again just popped in to my mind as I walked off the bus. I don't see Rangers going proper bust again ever happening but just the simple idea made me actually burst in to a proper chuckle. Folk at the bus stop were giving me funny looks! Whats the scarf above head equivalent? Bomber broon howling at the moon demanding the DEEEEDS? Link to comment Share on other sites More sharing options...
Norm Posted February 20, 2017 Share Posted February 20, 2017 Whats the scarf above head equivalent? Bomber broon howling at the moon demanding the DEEEEDS? Big Hoose Stay Open bloke. If he's not already dead from a massive heart attack from what looks like a serious steak bake addiction. Link to comment Share on other sites More sharing options...
RobNox Posted February 20, 2017 Share Posted February 20, 2017 That's not strictly true. They have tried to disapply pre-emption rights for a share issue at each of the last two AGMs and failed to get sufficient shareholder support to do so. There is nothing left in the Fraudco case that relates to the Newco, so that is no longer an obstacle. There are two obstacles that, if removed, would help them raise cash. The most important one is for King to step aside to remove the toxicity related to him personally, and the other is to get themselves a Nomad and a listing on a stock exchange. FF, would the BDO case against D&P not also raise a potential obstacle? If gratuitous alienation is proven, could that affect the current ownership of the assets, or is it more likely that D&P would be held to account for any shortfall? Link to comment Share on other sites More sharing options...
Footballfirst Posted February 20, 2017 Share Posted February 20, 2017 FF, would the BDO case against D&P not also raise a potential obstacle? If gratuitous alienation is proven, could that affect the current ownership of the assets, or is it more likely that D&P would be held to account for any shortfall? As far as I know the action is only against D&P rather than TRFC. If BDO won, then all I think they will be looking for is compensation from D&P (or their insurers) for professional negligence. Link to comment Share on other sites More sharing options...
RobNox Posted February 20, 2017 Share Posted February 20, 2017 As far as I know the action is only against D&P rather than TRFC. If BDO won, then all I think they will be looking for is compensation from D&P (or their insurers) for professional negligence. Thanks, I was of the view that was the more likely scenario, just wondering if any question mark might remain over rightful ownership of the assets while the case was pending. Link to comment Share on other sites More sharing options...
Malinga the Swinga Posted February 20, 2017 Share Posted February 20, 2017 5th largest shareholder has issued a statement, of sorts http://club1872.co.uk/news/club-1872-statement-on-members-concerns/ What a waste of print that statement is. Says and provides nothing about anything other than some self publicity. Link to comment Share on other sites More sharing options...
Armageddon Posted February 20, 2017 Share Posted February 20, 2017 5th largest shareholder has issued a statement, of sorts http://club1872.co.uk/news/club-1872-statement-on-members-concerns/ Hahah what that actual F??!!! Link to comment Share on other sites More sharing options...
Footballfirst Posted February 20, 2017 Share Posted February 20, 2017 (edited) The latest managerial candidate (from the Express) Edited February 20, 2017 by Footballfirst Link to comment Share on other sites More sharing options...
RobNox Posted February 20, 2017 Share Posted February 20, 2017 The Huns are loving the idea of Irvine. [emoji23] Why not, with a track record like his, Brendan must be quaking in his boots! Link to comment Share on other sites More sharing options...
RobNox Posted February 20, 2017 Share Posted February 20, 2017 So assistant to Alex Neil at Norwich is in the frame for the Rangers job, having achieved very little as a manager in his own right. Are the huns not starting to see the reality of where they are in the pecking order? If they had gone for Alex Neil, they would still be a mile behind Celtic, but going for his assistant!! Link to comment Share on other sites More sharing options...
Beast Boy Posted February 20, 2017 Share Posted February 20, 2017 Guessing this is their planned head coach. They are adopting the DoF set up, no? Link to comment Share on other sites More sharing options...
269miles Posted February 20, 2017 Share Posted February 20, 2017 The latest managerial candidate (from the Express) So who is actually being interviewed ? So far, two nobodies. How many clubs have Sevco actually approached - officially ? According to that article, not many. More bollocks on the Sevco front. Link to comment Share on other sites More sharing options...
buzzbomb1958 Posted February 20, 2017 Share Posted February 20, 2017 They can't afford to appoint anyone until season tickets are sold ,all just speculation to sell papers in the weeg Link to comment Share on other sites More sharing options...
LeylandJambo Posted February 21, 2017 Share Posted February 21, 2017 (edited) The latest managerial candidate (from the Express) Please let this happen. I went to watch Preston a couple of times when he was in charge. Eye bleeding football is the best way to describe it. Edited February 21, 2017 by LeylandJambo Link to comment Share on other sites More sharing options...
The Mighty Thor Posted February 21, 2017 Share Posted February 21, 2017 It's not quite Frank de Boer and the war chestz is it? [emoji38] Link to comment Share on other sites More sharing options...
cannonfoda Posted February 21, 2017 Share Posted February 21, 2017 they deid yet? Link to comment Share on other sites More sharing options...
Jamboelite Posted February 21, 2017 Share Posted February 21, 2017 Yawn There are issues but all this chat about going bust is simply fantasy chat peddled by Celtic fans and some of their sympathisers in the country.....along with a few others who are simply determined to believe anything they hear to suit their viewpoint..........fake news has nothing on some of the tales peddled on this board. Ahh here is our resident level 5 media correspondent. Its your opinion nothing more why dont you just allow people their speculation . Link to comment Share on other sites More sharing options...
Bigsmak Posted February 21, 2017 Share Posted February 21, 2017 (edited) Regardless of what or what doesn't happen I think that even the most deluded of The Rangers fans are starting to come around to the fact that there is serious, deep running and an almost unavoidable culture of greed and incompetence at their club. It has been said many times in this thread that they squandered a great opportunity to rebuild the club from scratch, to develop youth and promote a culture of financial integrity that could have seen a 'big club' such as themselves prosper and grow. That's in the past now and they can't go back and fix it. Instead we are seeing the same cycle of mismanagement and reliance on big name signings funded though 'potential earnings' that don't and probably can't exist in the modern Scottish set up. The reason I post is that I worry that Hearts may not pay attention to this and allow ourselves to experience more financial troubles. We are building a new stand. We signed nine players I think recently. Yes some went out as well and the ones we got didn't cost much but there is a weekly wage bill to consider. I hope we keep the heed and keep learn from the mistakes that are happening in Glasgow. We are a growing club with a great support but we need to be careful with our ambitions. I always remember back to the 100 odd Lithuanians we signed that one time and it nearly killed the club. Edited February 21, 2017 by Bigsmak Link to comment Share on other sites More sharing options...
corryjambo Posted February 21, 2017 Share Posted February 21, 2017 The stock market issue will be resolved fairly quickly with the appointment of a new nomad and another 'fact' as others seem to want to tell us will suddenly be no more. There needs to be a new sense of realism applied this thread given the events of the last 48 hours. Well CJGJ, as you are a man who constantly tells us that he deals in facts not fantasy, can you tell us how this "fact" of yours nearly 2 years ago is working out. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted February 21, 2017 Share Posted February 21, 2017 Regardless of what or what doesn't happen I think that even the most deluded of The Rangers fans are starting to come around to the fact that there is serious, deep running and an almost unavoidable culture of greed and incompetence at their club. It has been said many times in this thread that they squandered a great opportunity to rebuild the club from scratch, to develop youth and promote a culture of financial integrity that could have seen a 'big club' such as themselves prosper and grow. That's in the past now and they can't go back and fix it. Instead we are seeing the same cycle of mismanagement and reliance on big name signings funded though 'potential earnings' that don't and probably can't exist in the modern Scottish set up. The reason I post is that I worry that Hearts may not pay attention to this and allow ourselves to experience more financial troubles. We are building a new stand. We signed nine players I think recently. Yes some went out as well and the ones we got didn't cost much but there is a weekly wage bill to consider. I hope we keep the heed and keep learn from the mistakes that are happening in Glasgow. We are a growing club with a great support but we need to be careful with our ambitions. I always remember back to the 100 odd Lithuanians we signed that one time and it nearly killed the club. Surely you mean "faceless cast of thousands"? And it wasn't those pesky Liffs (sic) who blew the budget. It was the wages to the likes of Kingston and Pinilla. Link to comment Share on other sites More sharing options...
Allowayjambo1874 Posted February 21, 2017 Share Posted February 21, 2017 The reason I post is that I worry that Hearts may not pay attention to this and allow ourselves to experience more financial troubles. We are building a new stand. We signed nine players I think recently. Yes some went out as well and the ones we got didn't cost much but there is a weekly wage bill to consider. I hope we keep the heed and keep learn from the mistakes that are happening in Glasgow. We are a growing club with a great support but we need to be careful with our ambitions. I always remember back to the 100 odd Lithuanians we signed that one time and it nearly killed the club. Do you really believe Ann Budge will allow us to get into financial trouble? The rhetoric from the club since she came in has been all about living within our means. We couldn't get the money to do that even if we wanted to unless we had some kind of sugar daddy! You do realise we got compensation fees for Neilson & Crawford as well as transfer fees for Rossi & Muirhead all of which I think will have funded the 9 new faces, of which 8 (I think) are on 6 month contracts. Suggesting hearts may revert back to stupid financial decisions to keep up with the basket case club Rangers is plain daft. Link to comment Share on other sites More sharing options...
Bigsmak Posted February 21, 2017 Share Posted February 21, 2017 (edited) Do you really believe Ann Budge will allow us to get into financial trouble? The rhetoric from the club since she came in has been all about living within our means. We couldn't get the money to do that even if we wanted to unless we had some kind of sugar daddy! You do realise we got compensation fees for Neilson & Crawford as well as transfer fees for Rossi & Muirhead all of which I think will have funded the 9 new faces, of which 8 (I think) are on 6 month contracts. Suggesting hearts may revert back to stupid financial decisions to keep up with the basket case club Rangers is plain daft. I wasn't saying that we are going down this path or that we are reverting back. All am saying is that we need to just keep an eye on it just in case! It is better to be prepared and willing to act rather than be caught unaware. I like what Ann Budge is doing and am delighted we have the new stand. I think we will fill it every week! Edited February 21, 2017 by Bigsmak Link to comment Share on other sites More sharing options...
Lincon Premier Posted February 21, 2017 Share Posted February 21, 2017 CJGJ, I was willing to give you the benefit of the doubt, as I could see where you were coming from on certain issues. However your last rant has me in the " Go back to Follow follow " camp because you must feel happier there. Seriously do you believe all the rumours are just that, and have no substance? They put in the IPO that work was required on the stadium ( they promised ring fence funds for this and it never happened ). I watched on TV as lumps fell off the roof and fans were moved. No-one at Ibrokes has denied the reports of director loans to meet pay roll, and I would have thought that would have happened if they were wrong. They needed a share issue to survive and it was refused.Now with MA and Warburton on the war path they are seriously short of cash. I can believe the rumour of waiting until after the split, as it is the only way to stay top six. Directors have a legal obligation to keep the company above board, and as time goes on they will be worried that they will be left to " hold the baby " while The Lying King slips away. None of these guys want a prison sentence and that is what is looming if they hide any wrong doing behind the scenes. Link to comment Share on other sites More sharing options...
Glamorgan Jambo Posted February 21, 2017 Share Posted February 21, 2017 The reason they're not having a share issue is nothing to do with any ongoing litigation either involving Duff & Phelps or Sports Direct/Mike Ashley but the failure of the AGM resolution to disapply pre emption rights. If it had passed the board would have been able to issue shares at any price to anyone, or more likely initially swap the debt to directors such as King at whatever rates the board decided. So hardly surprising they couldn't get the 'super majority' needed for a special resolution such as this to pass. If you were a shareholder would you give King carte blanche to reduce the value of your investment?? I wouldn't Link to comment Share on other sites More sharing options...
Lincon Premier Posted February 21, 2017 Share Posted February 21, 2017 Further to my earlier post. They are also carrying on without a Nomad so no-one has signed off on the accounts. Caveats were attached and not explained or removed. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted February 21, 2017 Share Posted February 21, 2017 Further to my earlier post. They are also carrying on without a Nomad so no-one has signed off on the accounts. Caveats were attached and not explained or removed.Nomads don't sign off accounts. Link to comment Share on other sites More sharing options...
Jambo 4 Ever Posted February 21, 2017 Share Posted February 21, 2017 Further to my earlier post. They are also carrying on without a Nomad so no-one has signed off on the accounts. Caveats were attached and not explained or removed. Why would a Nomad sign off the accounts? Link to comment Share on other sites More sharing options...
Justin Z Posted February 21, 2017 Share Posted February 21, 2017 Well CJGJ, as you are a man who constantly tells us that he deals in facts not fantasy, can you tell us how this "fact" of yours nearly 2 years ago is working out. Brilliant stuff there by Mr. "I'm totally not just sucking off Level 5's arse, I swear" himself. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted February 21, 2017 Share Posted February 21, 2017 BOOOOOOOOOOOOOOOOOOO I come on here every morning hoping I've missed 9 pages overnight. Oh well maybe tomorrow. Link to comment Share on other sites More sharing options...
Jambo 4 Ever Posted February 21, 2017 Share Posted February 21, 2017 BOOOOOOOOOOOOOOOOOOO I come on here every morning hoping I've missed 9 pages overnight. Oh well maybe tomorrow. Thanks for sharing Link to comment Share on other sites More sharing options...
CJGJ Posted February 21, 2017 Share Posted February 21, 2017 CJGJ, I was willing to give you the benefit of the doubt, as I could see where you were coming from on certain issues. However your last rant has me in the " Go back to Follow follow " camp because you must feel happier there. Seriously do you believe all the rumours are just that, and have no substance? They put in the IPO that work was required on the stadium ( they promised ring fence funds for this and it never happened ). I watched on TV as lumps fell off the roof and fans were moved. No-one at Ibrokes has denied the reports of director loans to meet pay roll, and I would have thought that would have happened if they were wrong. They needed a share issue to survive and it was refused.Now with MA and Warburton on the war path they are seriously short of cash. I can believe the rumour of waiting until after the split, as it is the only way to stay top six. Directors have a legal obligation to keep the company above board, and as time goes on they will be worried that they will be left to " hold the baby " while The Lying King slips away. None of these guys want a prison sentence and that is what is looming if they hide any wrong doing behind the scenes. I cannot see any latest rant as you describe it simply an explanation of what I believe to be the aim of King and co. Re the nomad situation as I have stated previously I was wrong regarding that matter.. I've already said this and unlike others on this recognise an error when it is pointed out to me. The rest of the opinions I post are just that opinions and I at least try to justify mine unlike posting false news and social blogger information which some on here take as gospel.....I never seem to see them come on and admit a mistake. Still one mistake is not bad considering the number of posts made on this topic and happy to admit to it....perfection exists in no man Link to comment Share on other sites More sharing options...
Tasavallan Posted February 21, 2017 Share Posted February 21, 2017 What still annoys me is that despite Oldco going into liquidation and the problems that ensued from it, the SFA still have not adopted a policy in respect to clubs entering administration and the non-acceptance of a CVA by creditors leading to liquidation , i.e. a ruling in respect to "phoenix" clubs. The EFA have such a policy in place to cover "phoenix" clubs which has seen clubs like Darlington, Chester and Halifax being reborn as new clubs and having to enter the pyramid at Northern Premier League Div 1 North level, which is 4 levels below League 2. Newco was given preferential and biased treatment by the SFA/SFL to get them accepted into Division 3 (at the time). In comparison, rugby league's Bradford Bulls went into liquidation in January (after HMRC called and no CVA agreed) following going previously into administration in 2012, 2014 and 2016. After the administrators went out to bid for new owners, a new club was formed named Bradford Bulls 2017 Ltd. However the difference between the RFL and the EFA/SFA is that they decreed that this new club should keep the old club's place in the Championship (instead of dropping to the lowest level) with the following statement: "...the RFL is aware of a number of individuals and consortia interested in taking professional Rugby League forward in Bradford. The independent Board of the RFL has also concluded that our sport would be weaker and our competition structure damaged without a club in Bradford. The Board recognises the need to balance competition integrity while protecting the reputation of the sport and acknowledges that all other clubs in the league have prepared for the competition in 2017 on the presumption that Bradford would be competing in the Championship. Accordingly the Board, having balanced up all the alternatives, have concluded that the new club would be invited to assume the membership slot vacated by Bradford Bulls (Northern) Ltd., in the Championship. However the club would start the season with a points deduction of 12 points, and the central distribution would be limited to the lowest distribution available in Championship, with the funds freed up being used to assist the closing down of the current company." Now if the SFA/SPL/SFL had come out with some transparency back in 2012 maybe there would not be so much animosity towards Sevco. Instead we get carpetbaggers Whyte, Green & King. Dumb & Dumber, Regan and Doncaster have a lot to answer for. Thankfully, Hearts had BDO and Ann Budge. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted February 21, 2017 Share Posted February 21, 2017 Thanks for sharingYou didn't have to reply. I know you care. Link to comment Share on other sites More sharing options...
Lincon Premier Posted February 21, 2017 Share Posted February 21, 2017 Nomads don't sign off accounts. Sorry that was supposed to read AND no-one has signed off. My bad! Link to comment Share on other sites More sharing options...
Jambo 4 Ever Posted February 21, 2017 Share Posted February 21, 2017 Sorry that was supposed to read AND no-one has signed off. My bad! No worries So you think they might be hiding something? Link to comment Share on other sites More sharing options...
Jambof3tornado Posted February 21, 2017 Share Posted February 21, 2017 With no accounts signed off is it no European footie for sevco regardless of where they finish in the league? Link to comment Share on other sites More sharing options...
Footballfirst Posted February 21, 2017 Share Posted February 21, 2017 With no accounts signed off is it no European footie for sevco regardless of where they finish in the league? But the accounts were signed off by: Greig McKnight (Senior Statutory Auditor) for and on behalf of Campbell Dallas LLP Chartered Accountants Statutory Auditors Titanium 1 King?s Inch Place Renfrew PA4 8WF 24 October 2016 ...... albeit with an "Emphasis of Matter - Going Concern" statement EMPHASIS OF MATTER ? GOING CONCERN In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures in note 1 to the financial statements concerning the Group?s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance. Failure to secure additional funding would result in the existence of a material uncertainty which may cast significant doubt as to the Group?s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern. Link to comment Share on other sites More sharing options...
Brick Tamland Posted February 21, 2017 Share Posted February 21, 2017 I cannot see any latest rant as you describe it simply an explanation of what I believe to be the aim of King and co. Re the nomad situation as I have stated previously I was wrong regarding that matter.. I've already said this and unlike others on this recognise an error when it is pointed out to me. The rest of the opinions I post are just that opinions and I at least try to justify mine unlike posting false news and social blogger information which some on here take as gospel.....I never seem to see them come on and admit a mistake. Still one mistake is not bad considering the number of posts made on this topic and happy to admit to it....perfection exists in no man I think you've chosen to miss the point. He's pointing out that you slag people off for believing rumours yet you always post your stuff as fact when it really isn't. Your stuff is all a bit Sevco apologist and you don't seem to like it when your called out on it. Link to comment Share on other sites More sharing options...
Norm Posted February 21, 2017 Share Posted February 21, 2017 Thanks for sharing? FTFY. Link to comment Share on other sites More sharing options...
Jamboelite Posted February 21, 2017 Share Posted February 21, 2017 I cannot see any latest rant as you describe it simply an explanation of what I believe to be the aim of King and co. Re the nomad situation as I have stated previously I was wrong regarding that matter.. I've already said this and unlike others on this recognise an error when it is pointed out to me. The rest of the opinions I post are just that opinions and I at least try to justify mine unlike posting false news and social blogger information which some on here take as gospel.....I never seem to see them come on and admit a mistake. Still one mistake is not bad considering the number of posts made on this topic and happy to admit to it....perfection exists in no man Then why when people discuss the underlying issues and offer their opinion do you dismiss then as fantasy posters yet admit your posts are just your own opinion and not based on fact either. Its this "im the only one dealing in facts" rhetoric that you keep pedalling that gets you either the attention you crave or the abuse you deserve. Link to comment Share on other sites More sharing options...
doctor jambo Posted February 21, 2017 Share Posted February 21, 2017 I don't think Sevco are going to do admin. I think they will hobble on in crippled form. I think that they are in real trouble of staying alive! Their playing budget is only twice what ours and Aberdeens is - and that, with a good manager, can be overcome far easier than the monster gaps before. And that is before our increased capacity, or any fall in revenue for them Last thing I want is them entering admin and shedding their debt Link to comment Share on other sites More sharing options...
Recommended Posts