The Sevco saga continues ...

[IveSeenTheLight]

22 minutes ago, indianajones said:

 

Stench. 

 

CANNOT wait till these dregs of society go bust again. 

 

Fixed that for you, it's just an accent issue

[Deepfriedpizza]

46 minutes ago, milky_26 said:

i bet that "hearts fan" is a member on here

He showed my first post to the huns and said something along the lines of:

 

Even at this time, it's all about the rangers.

 

 

*I don't have time to double check what the idiot said.

 

 For when you read this:

 

Keep sucking hun boaby though. None of them like you. They want your club to die. Stop being a sad, attention seeking *****...

 

"Like me, please like me"

[Ex member of the SaS]

Was going to post that maybe he was agreeing trying to hide his true allegiance. But reading the other posts on here it would look like a dick in amoungst bigger dicks. They will certainly go bust before we do and I would hope this is Ann trying to force the GFA into a decision. Just a shame the SMSM won't make their demise a big issue. They will try to play it down so that Huns3 can start at the top.

[DETTY29]

If loads of court cases cancelled then at least they wont need to pay Ashley for a while.

[Riccarton3]

3 hours ago, Stendelsarmy said:

Where's your disgust coming from, I'm sure you celebrated when it was them?

Harder to swallow is the use of the word karma - as if their problems were not entirely self inflicted. Any body would be pleased to see their 'business plan' back then , let's call it that, unravel so spectacularly

Edited March 19, 2020 by Riccarton3

[Mysterion]

 

We generally suspect Rangers are in trouble and the rumour mill is on the go that they are struggling to meet pay roll for this month. 

 

I wouldn't be surprised if they announced the same thing but were praised for it. The media just love to soothe the savage beasts... 

[Dunks]

5 hours ago, milky_26 said:

i bet that "hearts fan" is a member on here

 

Probably been forever

[Bainy]

they will be bust before another balls kicked. clubs in a complete mess with loans there is no way they are sustainable with no incoming revenue. 

[busby1985]

2 hours ago, Mysterion said:

 

We generally suspect Rangers are in trouble and the rumour mill is on the go that they are struggling to meet pay roll for this month. 

 

I wouldn't be surprised if they announced the same thing but were praised for it. The media just love to soothe the savage beasts... 

from what I know they aren’t in any trouble as it stands. Their players have been told to train at home and have individual plans just like our players. 

[redjambo]

8 minutes ago, Bainy said:

they will be bust before another balls kicked. clubs in a complete mess with loans there is no way they are sustainable with no incoming revenue. 

 

I'm sure the Scottish government would bail them out if that were the case. Extenuating circumstances, saves having riots in the streets and all that.

[Footballfirst]

Next week's court hearing

LORD CLARK – L Cranston, Clerk

Tuesday 24th March between 9.30am and 10.00am

Preliminary Hearing

CA12/20 The Rangers Football Club Ltd v LBJ Sports Apparel Ltd  –   Anderson Strathern LLP  –  Burness Paull LLP

[Jambo-Fox]

4 hours ago, Footballfirst said:

Next week's court hearing

LORD CLARK – L Cranston, Clerk

Tuesday 24th March between 9.30am and 10.00am

Preliminary Hearing

CA12/20 The Rangers Football Club Ltd v LBJ Sports Apparel Ltd  –   Anderson Strathern LLP  –  Burness Paull LLP

Lets hope it’s;

 

Anderson Strath. 0 vs Burness P. 3!!

[Beast Boy]

21 hours ago, milky_26 said:

i bet that "hearts fan" is a member on here

An absolute certainty. Unless banned.

[Sarah O]

On 17/03/2020 at 23:11, Jarhead said:

? Maybe because being Scottish and British isn’t mutually exclusive?

Fish in a barrel

[The Future's Maroon]

15 hours ago, Dunks said:

 

Probably been forever

😆😆

[Mysterion]

20 hours ago, busby1985 said:

from what I know they aren’t in any trouble as it stands. Their players have been told to train at home and have individual plans just like our players. 

 

The most recent European gate money will help - but for how long without other revenues ?

[busby1985]

12 minutes ago, Mysterion said:

 

The most recent European gate money will help - but for how long without other revenues ?

Yeah they are also saying they have £20million in investment coming in?? Who knows. Just no short term they seem to be fine. 

[Ex member of the SaS]

4 hours ago, busby1985 said:

Yeah they are also saying they have £20million in investment coming in?? Who knows. Just no short term they seem to be fine. 

The £20 mill is fake news. They guy simply visited and had a quick look round. Plus he MANAGES fund assets and this is not his money. He maybe rich but I doubt he's that rich . Been reported that even IF they got £20 mill it would be gobbled up right away.

Remember they have litigation with MA to deal with. Litigation with Hummel and the other sportswear companies ( they surely can't win due to the MA ruling ) A loan from Close Bros that is due to be repaid soon ( a company that takes people to court for missing one payment on a car loan ) and player fees that are due mid June. ( Kent and one other I can't just recall ). They are also deep in debt right now.

Edited March 20, 2020 by Ex member of the SaS

[Lovecraft]

Why would anyone invest £20 Million into a company that is constantly running at a loss and also having their shares continually diluted?

 

Quick answer:  They wouldn't.

 

Especially now.

 

 

 

 

 

[busby1985]

46 minutes ago, Ex member of the SaS said:

The £20 mill is fake news. They guy simply visited and had a quick look round. Plus he MANAGES fund assets and this is not his money. He maybe rich but I doubt he's that rich . Been reported that even IF they got £20 mill it would be gobbled up right away.

Remember they have litigation with MA to deal with. Litigation with Hummel and the other sportswear companies ( they surely can't win due to the MA ruling ) A loan from Close Bros that is due to be repaid soon ( a company that takes people to court for missing one payment on a car loan ) and player fees that are due mid June. ( Kent and one other I can't just recall ). They are also deep in debt right now.

Am honestly just passing on what I hear, I couldn’t give two shits about what actual happens there. 

[Footballfirst]

40 minutes ago, Ex member of the SaS said:

The £20 mill is fake news. They guy simply visited and had a quick look round. Plus he MANAGES fund assets and this is not his money. He maybe rich but I doubt he's that rich . Been reported that even IF they got £20 mill it would be gobbled up right away.

Remember they have litigation with MA to deal with. Litigation with Hummel and the other sportswear companies ( they surely can't win due to the MA ruling ) A loan from Close Bros that is due to be repaid soon ( a company that takes people to court for missing one payment on a car loan ) and player fees that are due mid June. ( Kent and one other I can't just recall ). They are also deep in debt right now.

From what I've heard he was first interested in taking a stake in the club around the end of December.  However, he was looking for certain assets to be realised (an unfit striker perhaps) to ensure that his cash didn't just get used to finance a structural deficit. When that didn't materialise during the January transfer window, he backed off but remained as a potential investor.  Recent events with the suspension of games and the lack of income have almost certainly made him even more reluctant to commit himself.

 

I believe that last week's media briefing about the pending investment, was a not to subtle attempt to force his hand and make the investment he was contemplating. It could be that the club is teetering on the brink with its cash flow (much like Hearts) and without the safety net of ST sales.

 

It may be that other directors or investors like Park or Taylor may step in to cover payroll costs, but as ever it's very much a case of "watch this space".

[Ex member of the SaS]

1 minute ago, Footballfirst said:

From what I've heard he was first interested in taking a stake in the club around the end of December.  However, he was looking for certain assets to be realised (an unfit striker perhaps) to ensure that his cash didn't just get used to finance a structural deficit. When that didn't materialise during the January transfer window, he backed off but remained as a potential investor.  Recent events with the suspension of games and the lack of income have almost certainly made him even more reluctant to commit himself.

 

I believe that last week's media briefing about the pending investment, was a not to subtle attempt to force his hand and make the investment he was contemplating. It could be that the club is teetering on the brink with its cash flow (much like Hearts) and without the safety net of ST sales.

 

It may be that other directors or investors like Park or Taylor may step in to cover payroll costs, but as ever it's very much a case of "watch this space".

I also believe he was under the impression The glib and shameless one would sell his shares and take no further part in the company. Wants the company to be run as a sustainable entity much like the two MA had in place before King fecked things up.

Can't see why anyone would " Invest " in a football team at this time when it's clear they could still go into admin even with the sums quoted

[colinmaroon]

On 18/03/2020 at 14:42, annushorribilis III said:

It's official "Rangers fans have that identity with unionism, loyalism & Protestantism". 

 

Maybe should change the club motto to "Més que un club - but Protestant." 

 

 

No!  They are an "ism."

 

[colinmaroon]

So Atletico Madrid are after Morellos, £20 million plus? 

 

Traynor is still there.

 

 

[John Findlay]

2 hours ago, colinmaroon said:

So Atletico Madrid are after Morellos, £20 million plus? 

 

Traynor is still there.

 

 

Funny how £20million is the common amount.

[East Lothian Jambo]

4 hours ago, Footballfirst said:

From what I've heard he was first interested in taking a stake in the club around the end of December.  However, he was looking for certain assets to be realised (an unfit striker perhaps) to ensure that his cash didn't just get used to finance a structural deficit. When that didn't materialise during the January transfer window, he backed off but remained as a potential investor.  Recent events with the suspension of games and the lack of income have almost certainly made him even more reluctant to commit himself.

 

I believe that last week's media briefing about the pending investment, was a not to subtle attempt to force his hand and make the investment he was contemplating. It could be that the club is teetering on the brink with its cash flow (much like Hearts) and without the safety net of ST sales.

 

It may be that other directors or investors like Park or Taylor may step in to cover payroll costs, but as ever it's very much a case of "watch this space".

I believe that Park was told in no uncertain terms by his Bankers that Park Motor Group could withstand no further leverage to advance support to Rangers 

[DETTY29]

14 hours ago, Ex member of the SaS said:

The £20 mill is fake news. They guy simply visited and had a quick look round. Plus he MANAGES fund assets and this is not his money. He maybe rich but I doubt he's that rich . Been reported that even IF they got £20 mill it would be gobbled up right away.

Remember they have litigation with MA to deal with. Litigation with Hummel and the other sportswear companies ( they surely can't win due to the MA ruling ) A loan from Close Bros that is due to be repaid soon ( a company that takes people to court for missing one payment on a car loan ) and player fees that are due mid June. ( Kent and one other I can't just recall ). They are also deep in debt right now.

I think they were due to pay £24m for outstanding transfers as of their last set of accounts

 

 

Back of fag packet but a good case scenario would be

 

£12m paid with this season's reserves

£8m due in June 2020

£4m to be paid in June 2021

[RobboM]

2 hours ago, DETTY29 said:

I think they were due to pay £24m for outstanding transfers as of their last set of accounts

 

 

Back of fag packet but a good case scenario would be

 

£12m paid with this season's reserves

£8m due in June 2020

£4m to be paid in June 2021

Purely speculation of course but Rangers would be desperate to avoid an Admin event as the deduciton of 15 points would put the title out of reach whether the games are played or not so Celtic's claim on the title would have more "legitimacy" 🙂

[brunoatemyhamster]

20m bid from Athletico? 

 

Since there's nothing to bet on, I'll give odds on that being fake. 

 

1/9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999.

 

 

Edited March 21, 2020 by brunoatemyhamster

[Phage]

1 hour ago, brunoatemyhamster said:

20m bid from Athletico? 

 

Since there's nothing to bet on, I'll give odds on that being fake. 

 

1/9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999.

 

 

I'll out £5 on those odds please 

[Lovecraft]

2 hours ago, RobboM said:

Purely speculation of course but Rangers would be desperate to avoid an Admin event as the deduciton of 15 points would put the title out of reach whether the games are played or not so Celtic's claim on the title would have more "legitimacy" 🙂

Imagine 10 in a row was won without kicking a ball.

 

😄

[graygo]

2 hours ago, RobboM said:

Purely speculation of course but Rangers would be desperate to avoid an Admin event as the deduciton of 15 points would put the title out of reach whether the games are played or not so Celtic's claim on the title would have more "legitimacy" 🙂

 

Pretty sure they would give up 9 if it meant having a clear run at stopping 10.

9 means nothing these days.

[Cruyff]

Atleti don't want Morelos ffs

 

Goebbels doesn't have anything on Traynor I can tell you that! Jeezo

[brunoatemyhamster]

25 minutes ago, Phage said:

I'll out £5 on those odds please 

I'll your £. 000000000000000000000000000001p to you shortly. 

Cash OK? 

Dougie Imries cleaning me oot. 

Edited March 21, 2020 by brunoatemyhamster

[Jambo-Fox]

3 hours ago, RobboM said:

Purely speculation of course but Rangers would be desperate to avoid an Admin event as the deduciton of 15 points would put the title out of reach whether the games are played or not so Celtic's claim on the title would have more "legitimacy" 🙂

But if administration was inevitable and they were able to pick a season then they’d probably pick this one to take a points deduction. Then (assuming they came out of administration) they would ask the fans to rally round to stop 10 in a row!

[Ex member of the SaS]

1 minute ago, Jambo-Fox said:

But if administration was inevitable and they were able to pick a season then they’d probably pick this one to take a points deduction. Then (assuming they came out of administration) they would ask the fans to rally round to stop 10 in a row!

TBF this is the ideal season to do it and then they could call for an increase in the league to 14 or 16 depending on how quickly they could reform as I can't see them getting a deal from Close Bros.

Would it only be 15 points as it would be the second ( oh wait first as they are a new club ! ) time!

[OTT]

7 hours ago, Ex member of the SaS said:

TBF this is the ideal season to do it and then they could call for an increase in the league to 14 or 16 depending on how quickly they could reform as I can't see them getting a deal from Close Bros.

Would it only be 15 points as it would be the second ( oh wait first as they are a new club ! ) time!

 

If there is any possibility in having them over a barrel then insisting on a change to the 11-1 voting system is essential. Even 10-2 would be a huge improvement although something where a bit less of a minority holding the league hostage would obviously be preferred. 

[Footballfirst]

8 hours ago, Ex member of the SaS said:

TBF this is the ideal season to do it and then they could call for an increase in the league to 14 or 16 depending on how quickly they could reform as I can't see them getting a deal from Close Bros.

Would it only be 15 points as it would be the second ( oh wait first as they are a new club ! ) time!

The points penalty is now applied over successive seasons, 15 in the current season and 5 points in the next. If insolvency occurs during the close season then you would start the next season on -15 and the following season on -5.

[Beast Boy]

1 hour ago, OTT said:

 

If there is any possibility in having them over a barrel then insisting on a change to the 11-1 voting system is essential. Even 10-2 would be a huge improvement although something where a bit less of a minority holding the league hostage would obviously be preferred. 

Doubt it. Last time we had the opportunity Abergreen dived in to bed with the Tims.

[OTT]

10 hours ago, Special Officer Doofy said:

Doubt it. Last time we had the opportunity Abergreen dived in to bed with the Tims.

 

Different owner and actually a dons fan by all accounts. Suspect he'd let common sense prevail. 

 

Milne is a piece of shit for that self interest though. Held the game back so what? Aberdeen could get a couple of seasons getting a bit extra for finishing 2nd or whatever? Embarrassing. 

[Lovecraft]

23 hours ago, Cruyff said:

Atleti don't want Morelos ffs

 

Goebbels doesn't have anything on Traynor I can tell you that! Jeezo

 Wait.  They have started a rumour saying that Atletico Madrid are after Morelos?

 

 

[Cruyff]

14 minutes ago, Lovecraft said:

 Wait.  They have started a rumour saying that Atletico Madrid are after Morelos?

 

 

Yep. 

 

 

[Footballfirst]

King finally walks away

 

 

[Footballfirst]

King's statement from the Record. (can also be read as "The club is in financial trouble. So am I, therefore I'm off before the merde hits the fan") 

 

 

Quote

"At my final board meeting in Glasgow on March 14 the board was close to finalising a new round of funding however this has been put on hold while the board considers the financial consequences of the rapidly evolving global impact of coronavirus. The subsequent severe developments within the sporting and general business environment- that have now resulted in global lockdowns- has necessitated that the careful financial planning assumptions presented on March 14 are revisited. In that regard we are no different from other football clubs and, indeed, the largest and smallest companies worldwide are all affected to varying degrees.

"The club has formed a task team that comprises executive management and that reports regularly into the board of RIFC. The priority of the task team is to ensure the wellbeing and health of all employees while simultaneously working with our fellow clubs, associations, stakeholders and government to ensure that the emotional and financial impact of this pandemic is mitigated as far as possible. We presently have extremely limited visibility on how the landscape will develop in the coming months but we will continue to keep our supporters and other stakeholders updated as matters progress. We are all in this together.

"I thank all of my colleagues for the time and effort they continue to devote to our club – particularly when they are all dealing with their own family and business concerns arising from coronavirus. It is unfortunate that my stepping down has coincided with the coronavirus crisis but I am relieved that our club has such stalwarts in place to deal with whatever comes our way.

"I considered the possibility of extending my time as chairman until the coronavirus crisis is over but that is not practically possible. After I returned to South Africa last week from the board meeting, I was mandated by the South African authorities to go into self-isolation for 14 days- which I am presently undergoing. In addition, the South African government has ordered a three-week lockdown which commenced at midnight on Thursday 26 March. South Africa is at an early point in the coronavirus curve but is a particularly high-risk country due to the high levels of poverty and unemployment as well as the vast number of township dwellers who are unable to self-isolate.

"Additionally, the South African government does not have the financial resources to offer bailout facilities and it is up to us in the private sector to negotiate arrangements to best survive the months ahead. All of my businesses in South Africa are significantly impacted. Many local businesses have not paid their employees- or have reduced payments at the end of March. Many have also terminated the employment of large numbers of their workforce. I decided to pay all employees in full in order to reduce the financial hardship to them. I have also put together a task team that communicates on a daily basis to find ways to make arrangements with landlords, suppliers, creditors and other stakeholders to restructure our businesses for as long as is necessary (I estimate a minimum of six months) and, in doing so, prioritise the wellbeing of our employees and their families. This is a full-time task that leaves me no free time to make meaningful input to the Rangers task team – which, in any event, is dealing with a more structured and more benign local environment due to the ability of the UK government to offer meaningful financial support to distressed businesses and individuals.

"In closing, I thank all supporters, club management and the board for the magnificent support I received while guiding the Club post regime change to put that specific crisis behind the club. It is a great pity that we now find ourselves part of this global crisis. The Task Team will continue to navigate the club through this difficult time while reporting to the full board. The Deputy Chairman, Douglas Park, will chair the board during the interim period and a new permanent chairman will be elected by the board at the next board meeting and will be announced immediately thereafter.

"My warmest regards to all our supporters at this difficult personal time for many of you.

"Please follow the Government guidelines and stay safe."

 

 

Edited March 27, 2020 by Footballfirst

[1971fozzy]

Things looking bleak for the newco.

in addition to the Aberdeen and Hibs statements

[busby1985]

37 minutes ago, Footballfirst said:

King finally walks away

 

 

This will be why the players where told earlier in the week to “expect” wage cuts. 

[Yoda]

Hopefully we'll get a full financial analysis and comment from Kris Boyd.   Or maybe not.

[Dusk_Till_Dawn]

[Lord Beni of Gorgie]

Terrible news. 

[husref musemic]

4 minutes ago, Yoda said:

Hopefully we'll get a full financial analysis and comment from Kris Boyd.   Or maybe not.

can you imagine them lecturing the sevco hoards. 

just hearts to get their financial insights.