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The Sevco saga continues ...

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JackLadd

Why should they pay cold shouldered King a dime? Sevco can whistle. 

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Footballfirst

The latest action is the fall-out (no pun intended) from the court ruling of 29 January,

 

Elite obviously haven't handed over the cash the TRFC thinks it is due.  TRFC will now have to present its reasons why the cash is due and the amount.

 

Meanwhile SDI will be  sitting on the sidelines counting up how much they might be due from TRFC and in their separate claim against Elite. Elite may have been holding onto funds for the reason, i.e. that they had been party to the breached contract.

 

It might be worthy of note that a couple of ex SDI personnel hold senior positions in Elite.  It may of course just be a coincidence that senior staff move around in a relatively small number of companies in the same area of business

Edited by Footballfirst

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Dannie Boy

A weee Elite administration might be on the horizon.

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gjcc
4 minutes ago, Dannie Boy said:

A weee Elite administration might be on the horizon.


That would be hilarious in regards to the Rangers perspective. Shame for the Elite employees. 

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JackLadd
8 minutes ago, Dannie Boy said:

A weee Elite administration might be on the horizon.

 

A wee Sevco admin to follow. 

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Seymour M Hersh
On 10/02/2020 at 17:47, Lovecraft said:

Jackson is a ****ing weasel.

 

Traynor is more like a sea otter.

 

 

 

I have a photo of the pair heading to Ibrox for a game.

 

 

th.jpeg

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Mysterion
53 minutes ago, Footballfirst said:

It might be worthy of note that a couple of ex SDI personnel hold senior positions in Elite.  It may of course just be a coincidence that senior staff move around in a relatively small number of companies in the same area of business


Would be some conspiracy if Elite turned out to be something Mike Ashley came up with to f^ck with Rangers. 
 

 

That aside - if they are taking steps to get money released then it sounds a bit desperate.

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The Future's Maroon
1 hour ago, Footballfirst said:

I don't think this Retail deal is going to end well either.

https://rangers.co.uk/news/headlines/club-statement-91/

 

THE Rangers Football Club Limited (Rangers) has served proceedings on LBJ Sports Apparel Limited trading as Elite for payment of the sum of £2,840,236.75 plus interest and expenses.

The payment relates to sums that require to be paid to Rangers by Elite in terms of the Agreement between Rangers, Elite and Hummel A/S for the manufacture and supply of Rangers Kit and other products.

They are about to hit the skids, again, so a prominent Rangers board member told my ex-work colleague less than a week ago (if true of course).

 

I had the fortune of working on the original admin case while working for HMRC, I have no reason to doubt his prediction.

 

Something is brewing in the dark corridors of Ibrox.

 

 

 

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kila
2 minutes ago, The Future's Maroon said:

They are about to hit the skids, again, so a prominent Rangers board member told my ex-work colleague less than a week ago (if true of course).

 

I had the fortune of working on the original admin case while working for HMRC, I have no reason to doubt his prediction.

 

Something is brewing in the dark corridors of Ibrox.

 

How damaging it could be if we knock them out the cup :D

 

Deny them a trip to Hampden and some much needed additional revenue

 

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Barack
2 minutes ago, The Future's Maroon said:

They are about to hit the skids, again, so a prominent Rangers board member told my ex-work colleague less than a week ago (if true of course).

 

I had the fortune of working on the original admin case while working for HMRC, I have no reason to doubt his prediction.

 

Something is brewing in the dark corridors of Ibrox.

 

 

 

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

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stevie1874
1 hour ago, gjcc said:


That would be hilarious in regards to the Rangers perspective. Shame for the Elite employees. 

I would hope elite haven’t paid tax for a while as the taxman will be first in the queue for anything left after impromptu admin 😂😂 

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DETTY29
1 hour ago, Dannie Boy said:

A weee Elite administration might be on the horizon.

Or a pre pack one.

 

As you were from an Elite perspective, new owners already identified, admin costs kept down, assets not at risk, just creditors shafted. 

 

Morally a bit shit though.

 

 

 

 

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Lovecraft
1 hour ago, Seymour M Hersh said:

 

I have a photo of the pair heading to Ibrox for a game.

 

 

th.jpeg

  

😃

 

Not far off.

 

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DETTY29
17 minutes ago, Barack said:

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

Morelos, who was worth £60m in January (copy the 'attempted murder' journo) will be at £100m by then.

 

Dominating from 2020 onwards.

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The Future's Maroon
29 minutes ago, Barack said:

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

I think that’s exactly where it’s going, the four year contract SG got recently was a money maker for them.... when a EPL club comes calling for him, which I think will come this Summer?

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Smith's right boot
41 minutes ago, Barack said:

Spunked the dollah to stop 9iar.

 

Failed. And will fail to stop 10 next year too. More dollah.

 

 

Roll on.

 

 

Pretty much this. 

 

When 10iar happens I reckon a lot of fans and folk of note/ importance will give up. 

 

The knock on effect of rangers floundering is that Celtic fans will get bored after a time too. 

15iar or the likes by spanking teams on a tenth of the budget and hopefully no Ucl football won't hold an  interest forever. 

 

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

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EIEIO
36 minutes ago, Smith's right boot said:

 

 

Pretty much this. 

 

When 10iar happens I reckon a lot of fans and folk of note/ importance will give up. 

 

The knock on effect of rangers floundering is that Celtic fans will get bored after a time too. 

15iar or the likes by spanking teams on a tenth of the budget and hopefully no Ucl football won't hold an  interest forever. 

 

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

A win win scenario.

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Frankfurter
38 minutes ago, Smith's right boot said:

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

Which might be why Celtic are only spending enough to stay just ahead of Rangers rather than properly putting the boot in. Dangerous game though.

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Independence
2 hours ago, JackLadd said:

 

A wee Sevco admin to follow. 

Oh please make this true!

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Footballfirst

What I don't understand about this debt, is how it has been allowed to build so far without TRFC taking action to recover it.

 

There were suggestions that Elite/LBJ were using the SDI injunction as a reason not to pay. The last judgement in January ruled in TRFC's favour that they could receive any funds due without breaching the injunction, so why did they not challenge it earlier.

 

From the Elite/LBJ point of view there are two possibilities, either they can't pay, or they think that they don't have an obligation to pay.  If it's the former, then we could see them trigger an insolvency event.  I can't see that either side would want further court action when the only people who will get rich are the lawyers.

 

LBJ extended their financial year end from the end of December to the end of March, which may or may not be significant.

Edited by Footballfirst

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Frankfurter
4 minutes ago, Footballfirst said:

There were suggestions that Elite/LBJ were using the SDI injunction as a reason not to pay. The last judgement in January ruled in TRFC's favour that they could receive any funds due without breaching the injunction, so why did they not challenge it earlier.

Do we know when that challenge started? Those things all seem to take forever.

Maybe Rangers were concerned about damaging their prospects with future suppliers even further by suing Elite?

So they only did it when they were desperate for  the money?

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Footballfirst
18 minutes ago, Frankfurter said:

Do we know when that challenge started? Those things all seem to take forever.

Maybe Rangers were concerned about damaging their prospects with future suppliers even further by suing Elite?

So they only did it when they were desperate for  the money?

 

The last hearing, at which the claim was first mentioned, was on 15 January. It doesn't appear in court documents dated 27 November and 2 October, so I expect that TRFC only decided to pursue it in the last couple of months.  The injunction took effect on 19 July 2019.

 

This is what the judge's ruling of 29 January (re the 15 January hearing) stated about the alleged debt.

 

Under the Elite/Hummel Agreement Elite was required to pay an Annual Fee and Royalty Payments to Rangers. The base Annual Fee was £2 million for the purchase of 1-100,000 units and the Agreement made further provision for the payment of certain royalties based on global wholesale sales. It is Rangers’ position that at the time the Injunction was granted sums totalling £960,236.75 (including VAT) had not been paid by Elite. The Court was not informed of this at the time and nor was SDIR aware of it. Since the grant of the Injunction Rangers say that a further £1,470,000 (including VAT) has become due under the Elite/Hummel Agreement and has not been paid by Elite. Although Elite has paid some monies to Rangers the vast majority of the sums claimed are still said to be outstanding. I will assume for the purposes of this judgment that Elite does owe monies to Rangers under the Elite/Hummel Agreement.

Edited by Footballfirst

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Frankfurter
9 minutes ago, Footballfirst said:

 

The last hearing, at which the claim was first mentioned, was on 15 January. It doesn't appear in court documents dated 27 November and 2 October, so I expect that TRFC only decided to pursue it in the last couple of months.  The injunction took effect on 19 July 2019.

 

This is what the judge's ruling of 29 January (re the 15 January hearing) stated about the alleged debt.

 

Under the Elite/Hummel Agreement Elite was required to pay an Annual Fee and Royalty Payments to Rangers. The base Annual Fee was £2 million for the purchase of 1-100,000 units and the Agreement made further provision for the payment of certain royalties based on global wholesale sales. It is Rangers’ position that at the time the Injunction was granted sums totalling £960,236.75 (including VAT) had not been paid by Elite. ...

Thanks FF. I suppose there's also the embarrassment angle to consider. All that fighting with Sports Direct over the right to deal with someone else, only for that deal to not actually deliver. And £2m/year sounds rather disappointing for them even if it was fully paid.

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Ex member of the SaS
12 hours ago, Smith's right boot said:

 

 

Pretty much this. 

 

When 10iar happens I reckon a lot of fans and folk of note/ importance will give up. 

 

The knock on effect of rangers floundering is that Celtic fans will get bored after a time too. 

15iar or the likes by spanking teams on a tenth of the budget and hopefully no Ucl football won't hold an  interest forever. 

 

Celtic need a strong rangers for commercial and marketing. 

Rangers going pop will hurt them over time as well. 

 

Celtic was the only club to lose money when Rangers went pop. Hopefully they will again when Sevco goes pop.

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Mikey1874

Off the Ball have an interview with Craig Whyte.

 

I'm not entirely sure but may be getting played on their show on just now. 

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Mikey1874
29 minutes ago, Mikey1874 said:

Off the Ball have an interview with Craig Whyte.

 

I'm not entirely sure but may be getting played on their show on just now. 

 

On now

 

Started 13.05 for podcast. Telephone interview with Tam and Stuart.

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Dannie Boy
1 minute ago, Mikey1874 said:

 

On now

 

Started 13.05 for podcast. Telephone interview with Tam and Stuart.


Just tuned in. Will need to listen to the podcast but sounds pretty revealing.

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Mikey1874
5 minutes ago, Dannie Boy said:


Just tuned in. Will need to listen to the podcast but sounds pretty revealing.

 

1. Would have put Rangers into administration on day he took over if had time again.

 

2. Doesn't think he did anything wrong.

 

3. Rangers are a new club.

 

Stuart Cosgrove saying they had to be careful for legal reasons. 

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eyesandears

Would have been better if Tam Cowan hadn't kept interrupting with infantile attempted jokes.

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ShedBoy

And Craig Whyte confirms that Rangers are in fact a new club.

 

 

SC. Are Rangers a new club?

 

CW. Yes, obviously they are.

 

From the horses mouth.

 

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Dannie Boy
2 minutes ago, eyesandears said:

Would have been better if Tam Cowan hadn't kept interrupting with infantile attempted jokes.

I pick that up. 

 

3 minutes ago, Mikey1874 said:

 

1. Would have put Rangers into administration on day he took over if had time again.

 

2. Doesn't think he did anything wrong.

 

3. Rangers are a new club.

 

Stuart Cosgrove saying they had to be careful for legal reasons. 


They didn’t trust a word Whyte said :whistling:

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Dannie Boy
2 minutes ago, ShedBoy said:

And Craig Whyte confirms that Rangers are in fact a new club.

 

 

SC. Are Rangers a new club?

 

CW. Yes, obviously they are.

 

From the horses mouth.

 


If he wasn’t on a hit list he is now :rifle:

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buzzbomb1958

Everyone but ra peepul know they are a new club

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Ray Gin
On 15/02/2020 at 14:01, Footballfirst said:

A summary of the interview here for anyone who missed it.

 

https://www.bbc.co.uk/sport/football/51515862

 

 

Q: One emotionally very, very divisive issue, which to this day divides Scottish football, and that is are Rangers a new club? What's your view?

Craig Whyte: Yes, obviously they are.

 

:pleasing: 

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Footballfirst

Not content with suing their current retail partner, LJB/Elite and being in another legal dispute with SDI, TRFC seems intent on adding further complexity to their retail operations.

 

I'm sure that SDI will be looking on and wondering whatever happened to their "matching rights".

 

https://rangers.co.uk/news/headlines/rangers-enter-market-for-kit-retail-partner/

 

 

RANGERS are pleased to confirm they are actively seeking a partner, or partners, for the clubs Official Kit Manufacturer, Retail & Licensing Rights for Season 2020/21 and beyond.

James Bisgrove, Rangers’ Commercial and Marketing Director commented: “We’re delighted to announce that we shall be engaging with potential partners that can deliver an official Rangers kit supply and retail operation that mirrors the demand of the club’s global fan base.”

The timing of the potential partnership coincides with the re-launch of the club official website this summer, with a new online club store being launched as part of the club’s digital transformation strategy.

The opportunity includes the ability to operate retail outlets at Ibrox Stadium and to integrate the successful partner’s online business with the club’s website and online store.

Furthermore, Rangers will celebrate its landmark 150th year in 2022, which represents a unique opportunity for the successful partner to join the anniversary celebrations.

For more information on Rangers Official Kit Manufacturer, Retail & Licensing Rights please contact: [email protected]

  

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alwaysthereinspirit
6 minutes ago, Footballfirst said:

Not content with suing their current retail partner, LJB/Elite and being in another legal dispute with SDI, TRFC seems intent on adding further complexity to their retail operations.

 

I'm sure that SDI will be looking on and wondering whatever happened to their "matching rights".

 

https://rangers.co.uk/news/headlines/rangers-enter-market-for-kit-retail-partner/

 

 

RANGERS are pleased to confirm they are actively seeking a partner, or partners, for the clubs Official Kit Manufacturer, Retail & Licensing Rights for Season 2020/21 and beyond.

James Bisgrove, Rangers’ Commercial and Marketing Director commented: “We’re delighted to announce that we shall be engaging with potential partners that can deliver an official Rangers kit supply and retail operation that mirrors the demand of the club’s global fan base.”

The timing of the potential partnership coincides with the re-launch of the club official website this summer, with a new online club store being launched as part of the club’s digital transformation strategy.

The opportunity includes the ability to operate retail outlets at Ibrox Stadium and to integrate the successful partner’s online business with the club’s website and online store.

Furthermore, Rangers will celebrate its landmark 150th year in 2022, which represents a unique opportunity for the successful partner to join the anniversary celebrations.

For more information on Rangers Official Kit Manufacturer, Retail & Licensing Rights please contact: [email protected]

  

150 years? They dont have 150 months. They carry around one of the biggest trolling sticks ever made for public use.

Image result for trolling stick

Edited by alwaysthereinspirit

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annushorribilis III
6 minutes ago, Footballfirst said:

Not content with suing their current retail partner, LJB/Elite and being in another legal dispute with SDI, TRFC seems intent on adding further complexity to their retail operations.

 

I'm sure that SDI will be looking on and wondering whatever happened to their "matching rights".

 

https://rangers.co.uk/news/headlines/rangers-enter-market-for-kit-retail-partner/

 

 

RANGERS are pleased to confirm they are actively seeking a partner, or partners, for the clubs Official Kit Manufacturer, Retail & Licensing Rights for Season 2020/21 and beyond.

James Bisgrove, Rangers’ Commercial and Marketing Director commented: “We’re delighted to announce that we shall be engaging with potential partners that can deliver an official Rangers kit supply and retail operation that mirrors the demand of the club’s global fan base.”

The timing of the potential partnership coincides with the re-launch of the club official website this summer, with a new online club store being launched as part of the club’s digital transformation strategy.

The opportunity includes the ability to operate retail outlets at Ibrox Stadium and to integrate the successful partner’s online business with the club’s website and online store.

Furthermore, Rangers will celebrate its landmark 150th year in 2022, which represents a unique opportunity for the successful partner to join the anniversary celebrations.

For more information on Rangers Official Kit Manufacturer, Retail & Licensing Rights please contact: [email protected]

  

FF, thoughts ? 

 

Have Sevco settled the SDI damages claim yet  (I think not) ? Wasn't this forecast to run into millions in damages ?

 

Does this mean SDI no longer have the matching rights - which I thought were the foundatin for the current case (when Sevco dumped SDI/Puma and went to Hummel ?). 

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brunoatemyhamster
8 minutes ago, Footballfirst said:

Not content with suing their current retail partner, LJB/Elite and being in another legal dispute with SDI, TRFC seems intent on adding further complexity to their retail operations.

 

I'm sure that SDI will be looking on and wondering whatever happened to their "matching rights".

 

https://rangers.co.uk/news/headlines/rangers-enter-market-for-kit-retail-partner/

 

 

RANGERS are pleased to confirm they are actively seeking a partner, or partners, for the clubs Official Kit Manufacturer, Retail & Licensing Rights for Season 2020/21 and beyond.

James Bisgrove, Rangers’ Commercial and Marketing Director commented: “We’re delighted to announce that we shall be engaging with potential partners that can deliver an official Rangers kit supply and retail operation that mirrors the demand of the club’s global fan base.”

The timing of the potential partnership coincides with the re-launch of the club official website this summer, with a new online club store being launched as part of the club’s digital transformation strategy.

The opportunity includes the ability to operate retail outlets at Ibrox Stadium and to integrate the successful partner’s online business with the club’s website and online store.

Furthermore, Rangers will celebrate its landmark 150th year in 2022, which represents a unique opportunity for the successful partner to join the anniversary celebrations.

For more information on Rangers Official Kit Manufacturer, Retail & Licensing Rights please contact: [email protected]

  

Surely no one will touch this with Mike stalking them. 

Are they not advertising Mikes property here? 

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Footballfirst

As far as I know, SDI are meant to have the retail operation rights for next season as a result of a ruling by Justice Persey last year (I'll have to check to confirm that).

 

I wonder what it means for the  Murray Park / Auchenhowie / Hummel Training Centre sponsorship.

 

Edit: from Persey's judgement published in July 2019

 

As to the first point, I am not satisfied that Rangers will lose significant revenues. It has already received the revenues due in respect of the 2018/2019 season and, given the limited nature of the injunctive relief now sought, will likely receive those due from Elite in the 2019/2020 season. It will also be entitled to receive revenues from SDIR in respect of the 2020/2021 season.

 

He clearly envisaged that SDI would exercise their matching rights for season 2020/21.

Edited by Footballfirst

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Frankfurter
26 minutes ago, annushorribilis III said:

FF, thoughts ? 

 

Have Sevco settled the SDI damages claim yet  (I think not) ? Wasn't this forecast to run into millions in damages ?

 

Does this mean SDI no longer have the matching rights - which I thought were the foundatin for the current case (when Sevco dumped SDI/Puma and went to Hummel ?). 

Are they just advertising it to get offers that SDI can then choose to match or not? The bigger offers they get, the more SDI would have to pay as well.

 

But yeah, not very attractive for third parties to put effort into a bid when SDI can simply gazump them, and Sevco have sued every supplier so far.

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annushorribilis III
6 minutes ago, Frankfurter said:

Are they just advertising it to get offers that SDI can then choose to match or not? The bigger offers they get, the more SDI would have to pay as well.

 

But yeah, not very attractive for third parties to put effort into a bid when SDI can simply gazump them, and Sevco have sued every supplier so far.

Fair point, which went completely over my head at first. Makes sense. 

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Footballfirst
5 minutes ago, Frankfurter said:

Are they just advertising it to get offers that SDI can then choose to match or not? The bigger offers they get, the more SDI would have to pay as well.

 

But yeah, not very attractive for third parties to put effort into a bid when SDI can simply gazump them, and Sevco have sued every supplier so far.

The previous deal with Hummel/Elite extended to three seasons. SDI have already confirmed in court that they would have matched the deal had they been given the chance. Hence Persey's view that SDI would run the retail operations in year three (2020/21), and would be able to claim damages for breach of contract for last season and this.

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Frankfurter
2 minutes ago, Footballfirst said:

The previous deal with Hummel/Elite extended to three seasons. SDI have already confirmed in court that they would have matched the deal had they been given the chance. Hence Persey's view that SDI would run the retail operations in year three (2020/21), and would be able to claim damages for breach of contract for last season and this.

Oh, I see. I can't make sense of that then. Could SDI have asked them to open it up, in the hope of an even cheaper deal than the Hummel one?

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Footballfirst
1 minute ago, Frankfurter said:

Oh, I see. I can't make sense of that then. Could SDI have asked them to open it up, in the hope of an even cheaper deal than the Hummel one?

I would doubt that SDI would ask for anything other than what was already on the table. 

 

It was a guaranteed £2m a year plus extras if sales targets were exceeded  (e.g. more than 100k shirts sold)

 

I don't know if Hummel has walked away or TRFC has terminated the contract and they are looking for a new kit supplier, but to extend the invite to the retail operations when SDI is already sitting on the sidelines seems to be playing with fire. 

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Deevers
2 minutes ago, Footballfirst said:

I would doubt that SDI would ask for anything other than what was already on the table. 

 

It was a guaranteed £2m a year plus extras if sales targets were exceeded  (e.g. more than 100k shirts sold)

 

I don't know if Hummel has walked away or TRFC has terminated the contract and they are looking for a new kit supplier, but to extend the invite to the retail operations when SDI is already sitting on the sidelines seems to be playing with fire. 

I doubt if any reputable company would touch them with a shitty stick while the SDI saga is playing out.   

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John Findlay

I get the distinct impression that Sevco thing they are above any court rulings and therefore above the law. It will comeback and bite them in the backside big style.

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VagabondJambo
8 minutes ago, Footballfirst said:

I would doubt that SDI would ask for anything other than what was already on the table. 

 

It was a guaranteed £2m a year plus extras if sales targets were exceeded  (e.g. more than 100k shirts sold)

 

I don't know if Hummel has walked away or TRFC has terminated the contract and they are looking for a new kit supplier, but to extend the invite to the retail operations when SDI is already sitting on the sidelines seems to be playing with fire. 

I recall it was reported that Persey QC imposed an injuction preventing them from wearing or selling Hummel strips from season 2020/21.

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Newton51

They are desperate for money. Having to sue the previous retailer with big mike chasing them thru the courts

 

Few rumours going around that something happened in Dubai which has caused the poor form.  Heard that management team Flew first class with the players in economy

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Footballfirst
16 minutes ago, VagabondJambo said:

I recall it was reported that Persey QC imposed an injuction preventing them from wearing or selling Hummel strips from season 2020/21.

 

Yes, that was the effect of the injunction, with SDI permitting TRFC to wear any other kit for this season 2019/20.

 

They could always go with Donnay or Lonsdale kit for next season, with the Hummel Training Centre renamed the SDI Centre for Excellence.

Edited by Footballfirst

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