Much ado about Sevco

Ah, these Sevco chaps must be very busy these days.

The following list is not exhaustive, but it will do for starters:

  • Get a NOMAD
  • Get an Exchange (like the ISDX)
  • Get an Auditor

The fact that all three are missing is just an indicator of just how toxic the Ibrox entity has become.

It is my settled view that the New Regime has little choice but to run the operation mainly on Season Ticket monies.

If this is indeed the case, then their cost base is far too high.

The irony is that Mr Derek Llambias and Mr Barry Leach were in the process of righting the good ship Sevco.

One very well placed source said to me today that these two chaps were “…perhaps only half a season away from turning it around…”

No one should be surprised that Deloitte has left the building.

Moreover, the reasons given by them will not endear Rangers International Football Club (RIFC) to any of the major auditing firms.

If, by some miracle, a NOMAD could be found then that Nominated Advisor would have to convince an exchange to list RIFC.

For the ISDX, the New Regime would have to provide proof of working capital to sustain the operation for 18 months.

I am told that Paul Murray had gone to the AIM asking for an easy transfer to the ISDX.

However, he was told by the Stock Exchange chaps that the ISDX had standards.


I checked, again, with an excellent source about the state of play with Sevco Season Tickets.

I can only pass on the information that is told to me, and I do so when I have graded those facts on various criteria.

All I can relate is that an excellent source with a good track record is adamant that the New Regime have not sold anything near 21,500 Season Tickets.

Of course, that could prompt an investigative journalist in Glasgow to start excavating several Levels beneath the Press Releases.

However, I wouldn’t bet on journalism breaking out anytime soon on the Ibrox story in the Scottish mainstream.

In the meantime, The People are happy as everything in the Ibrox garden is rosy and tomorrow belongs to them!

I think we’ve seen this movie before…

Discover Phil’s dramatic play Rebellion