Mr Llambias has his say

It has been a busy week for the Sevco High Command.

On Monday it was a serious sit down with auditors Campbell Dallas.

Now I’m sure that went swimmingly.

Then yesterday, in an entirely coincidental development, there was a dignified delegation in the Square Mile desperately looking for emergency finance.

Then last night Derek Llambias contacted the media with his views on the current regime.

My understanding is that this was a General Ashley authorised operation to counteract the high-Level fake news about the Director of Fantasy interviews.

Dear reader, you will note that Mr Derek Llambias very rarely appears in the media and the ex-Sevco CEO chose his words very carefully.

My information is that there was some high-Level dudgeon that the Englishman was given airtime apropos Sevco.

The anger was that this was on the same day and on the same channel as well!

Ah, bless…

Actually, Mr Llambias is worth listening to regarding Sevco finances.

I was recently advised by an impeccable source that when he was in the Blue Room in early 2015, the Holding Company vehicle was within one-quarter of becoming cash flow neutral.

They had costs under control, they had realistic wages, and the gravy train expenses culture had been stopped.

Moreover, the Engine Room Subsidiary also had access to the sports science facilities and promising players of Newcastle United.

My information is that there was no lifesaving finance located in the Square Mile this week.

The only institutions that were possibility interested are lenders that would amount to a fatal cure for sickly Sevco.

Punitive rates, assets secured and directors put in charge.

Oh, and it is payday tomorrow…

89 thoughts on “Mr Llambias has his say”

  1. Defender Clint Hill is a major doubt for tonights game after suffering a whiplash injury in the 2-1 defeat at Dundee.

    You know your team are past it when they have to jump into the car to get from one end of the pitch to the other.

    Reply
    • Might be good news for Sevco in that the pacey, indeed ‘lightning quick’, Senderos may be able to display both his fleetness of foot and nimbleness of footballing brain.

      Reply
  2. Kenny Millar in the DR today urguing the board to get the managerial structure at Sevco sorted out……

    “That’s more important than who should come in because this plan should be in place for when the next manager leaves and the next manager leaves after that”.

    And the next aftert that, and the next after that……

    Looks like Kenny can see into the future. The Sevco revolving door.

    Reply
  3. Grant Russel of STV succinctly states that all parties agreed (5way agreement) that a transfer of SFA membership from Rangers FC 1872 (in failed CVA mode), to Green’s Sevco Scotland constituted Sevco Scotland becoming Rangers FC with full honours.

    Logically if I start a Company tomorrow called Sevco Argyllshire and the SFA transfers Celtic FC’s membership to me then my new company is Celtic FC founded in 1888.

    So an SFA MEMBERSHIP is a Football Club, according to Grant, With no legal support in law.

    UEFA cannot accept this ethereal definition of a club.

    That it is an ill defined MEMBERSHIP of an association, not an incorporated legal body. Something to be gifted, given away, handed over by the SFA.

    SFA Membership was merely a bargaining tool, for clubs to get cheated Football debts, stumped up by Green.

    Clubs hold an SFA membership. Clubs ARE NOT SFA memberships. Transferring a membership does not transfer a club.

    Reply
    • Does Lord Bannatyne in the Coral Bookies “RELEGATION” case understand this?

      No Relegation of the old club as the new club required an SFA membership transfer.

      A Relegation would mean same club with same membership not a transferred membership.

      They twist themselves in lies.

      Reply
    • Clubs ceases to exist when the incorporated into Ltd Company bodies.

      Clubs are for amateurs, Company’s for professionals.

      Sevco should be a club.

      Reply
    • Rangers membership was transfered to dundee sevco were given a temporary membership so that they could play in the early stages of the scottish cup..

      Reply
  4. A wee tiny animadvertence.

    Under which legal imperative would the custodians of our national game find themselves constrained/required to revisit LNS?

    Reply
    • When the Big Tax Case concludes that RFC (in liquidation) acted unlawfully.

      I believe Celtic will then make representation to the SFA to have the titles where this behaviour was present awarded to Celtic FC.

      This happens in every other sport where disqualification takes place. Medals are revoked and awarded to the rightful winner.

      Those players who claim they didn’t cheat, well yes they did because they are responsible for their tax affairs that why they have accountants. So they are as guilty as the club.

      Celtic earned the Championship those years and should be awarded to them.

      No stars, or blank spaces, Celtic FC in their rightful place because Rangers FC are disqualified.

      Reply
    • Great point. Owners put their company into Administration, not a hired/ elected Board. Do they have the % shares to call an EGM to vote off the current board and vote on an Admin?

      Reply
    • Well.. For a ‘company’ that can sack its player management team without ‘them’ being aware of it!

      I suspect you may have your answer!

      Reply
  5. TINOF, I forgot about the Russian ‘Venus missions’ of the very early 60s, until JJ claimed today that ‘Moscow would have exposed’ the US Moon hoax, failing to take into account that both countries, along with a fair few others, have been working a number on us with this stuff for decades.

    http://www.russianspaceweb.com/spacecraft_planetary_venus.html

    Note that the first Eight, of a seemingly constant barrage of rockets and ‘missions’, all failed around the Low Earth Orbit mark, (aka the Van Allen belts), at least until 12th November ’65, when they outrageously claimed a successful 24K ‘flyby’ then, a mere 4 days later, claimed to have actually landed a (different) craft on Venus itself.

    Bearing in mind that Venus is 25 million miles away, and that they’d only recently achieved the miracle of Sputnik even getting into ‘space’ some few years earlier, don’t you think it odd that they would bypass our relatively close Moon for a planet 100 times further away, when the sensible option would be to check the conditions and travel the 250K to our lunar body first?

    Russia also sent dozens of rockets up to ‘Mars’ ( 33.9 million miles away) at the same time, claiming their first successful ‘flyby’, and ‘transmission of imagery’ in November 1964

    http://www.russianspaceweb.com/spacecraft_planetary_mars.html

    It seems the Yanks are not the only ones with a black hole at the centre of their economy, with another one at the centre of their rational thought processes, and I reckon JJ hasn’t quite done anywhere near enough research on this matter to make such an unambiguous statement, considering what’s available to us online now.

    The math quite simply does not add up, as this stuff is continually being proven to be a hoax by genuinely impartial scientific minds.

    Even the ‘esteemed’ cosmologist Michio Kaku has now finally admitted that ‘our science is off by a factor of 1/120 (that’s 120 zeros after 1) in their ‘calculations’, when being off by a factor of 2 is seen as an enormously embarrassing error within the scientific community.

    We’re on the verge of a major malfunction, Captain, when NASA’s top men are now publicly admitting just how wrong they’ve been thus far, (though I don’t think they were ‘wrong’ at all.)

    Speaking of which, William Shatner himself is furious at the cosmologists and their inability to adequately explain the multiple discrepancies surrounding their imaginary explanations of ‘space’ , (aka Bullshit), and is now repeatedly calling them out on it, stating that ‘there is no difference between ‘science’ and science fiction.’

    Check him out on YouTube. I’ve never seen him look so sober in his life 🙂

    But, on a more serious note, who takes over the ship when the entire crew is discovered to be lost in a space of their own fabrication?

    Reply
    • Pigs,
      Hahaha. …you cruel, cruel man! You do realise your last sentence will zoom right over their heads and continue on which ever course it takes, uninterrupted and undisturbed until it strikes a solid mass (not their favourite word, I know) somewhere, anywhere, wherever?
      As for the 25 million miles…….Warbs midfield covered that in the second half surely?
      I’m also very sceptical in regards to what they tell us about certain “products” we allegedly have at our disposal…..”playing with fire” and all that.
      I’ll search out some of your leads in case I’ve missed them along the way…..cheers!

      Reply
    • The Cosmonauts and allied USSR and RF space missions had their share of SNAFUS but last time I heard the rocket systems in use for the space station (and some NASA missions?) were developed somewhere east of Poland…

      Reply
      • Actually IN the east of Poland, or in a country east of Poland?

        Have you checked out the background to what you ‘last heard’ or are you assuming that, just because NASA wrote it down it must, therefore, be true?

        Reply
      • Cortes,
        Spot on mate. Just as Pigs says….The whole thing may have started out as an exploration and discovery mission, however, as soon as it became obvious we didn’t have the ability or wherewithal it simply turned into a giant lie and money making scam.
        Ring any bells?

        Reply
  6. Phil, am I wrong in saying that either BDO win the case in which case the payments were loans and the staff who received these loans should be chased to pay the old company the debt. Or, HMRC win and the payments are deemed as earnings, in which case the old company is due to pay the tax on them as such?

    Reply
  7. Sounds like Mike is coming back to me !!!!

    Why else would Llambias have anything to say at all ? He’s dangling a carrot in front of a bunch of desperate donkeys.

    Let the fun begin !!

    I just can’t wait to see them all running about in their SD shirts shouting how much they hate Ashley as the RRM Easdales put on a front, pretend they’ve struck great deal and they rule the roost now.

    Personally I think Ashley would be a mug because it will bring nothing but bad PR to SD.

    The average Sevconian operates at a different level from Newcastle fans.

    It’s just more to laugh at.

    Reply
    • I am hoping it is because Mike Ashley thinks Sevco is entering its last days and just wants their supporters to know that they had a shot at an alternative future.

      I hope too that Mike Ashley would not consider brescuing the club – he is able to make plenty of money elsewhere and the Sevconians deserve a bit of pain for supporting the concert party’s hostile (and possibly illegal) takeover.

      Reply
      • Ashley is a business man out to make money.

        He’ll either want to protect his investment or make more, or both.

        Rangers dying wont suit Mr Ashley unless there’s a few quid in it for him.

        Reply
        • ‘Get your baskets of assets! 3 pairs for a pound!
          Distressed company sales lot! Guaranteed money back within 2 minutes!’

          Sounds right up Ashley’s street to me.

          Reply
    • Then HMRC push it to the next level. They’ll fight to the bitter end. They have that unlimited funding courtesy of the taxpayer and, potentially, millions of revenue to recover. This is a drop in the ocean but a valuable precedent.

      Reply
      • There is no next level PJ. This is the highest court in the land and exactly where HMRC want it to be. Once judgement is passed here its final. Then HMRC can go after others who operated EBT schemes and these folk will have no right of appeal.

        Reply
    • You’d have to think it unlikely.
      BDO were apparently instructed to pursue this BY HMRC as the principal creditor.
      Admittedly it does seem counter intuitive, but in terms of a bigger picture it means that in obtaining closure at the Supreme court, a final precedent on EBT’s will have been set.
      At that point it’s open season on all recipients.
      I’m not a legal expert in any way but I’d expect BDO’s challenge would be a legally competent one rather than overly robust and aggressive. “Biting the hand that feeds you etc”
      Bicycle clips and pampers all round for the “9 in a row-ers” methinks !!!

      Having said all that we’re in Scotland and as we know strange things happen.

      Reply
      • Would it really affect all EBT schemes operated in the UK? The side letters gave the game away in Rangers case, spelling out explicitly that the payments were salary and not loans. If other companies operated their schemes correctly, wouldn’t HMRC have to go after one of them and get a victory in court?

        Reply
      • Not so. The decision was that of the Liquidation Comittee, on which there are two supporter representatives, both professionally qualified. The Liquidator follows the recommendation of the Committee. HMRC have a representative on the Committee but is asked to depart when the litigation is discussed, being considered conflicted. HMRC did not vote on the decision to go further.

        They would have been content with an Inner House decision as that was higher authority than the Sempra and Dextra decisions and would be the lead authority, albeit non binding in England.

        Reply
        • Apologies it wasn’t “apparent”.
          That is indeed a disgrace then…two supporters representatives representatives, professionally qualified but clearly morally prejudiced in leveraging the creditors pot against what ? To what end ? A petty vanity?
          …Only in Scotland.
          BDO were appointed by HMRC though right?

          Let March’s clusterfcuk ensue !

          Reply
  8. Like many I was very critical of Lawwell, and in particular Celtic’s response to Res 12.

    However I’ve now come to the view that he and the club have played an absolute blinder.

    A Rangers lite (thanks JJ) in chaos whilst Celtic milk the CL monies, announce a major development, and Brendan calling all the shots on the football side….new pitch, nae problem.
    The squad value has increased significantly with the progress of Dembele and Tierney in particular.
    The road to 10 IAR is wide open.
    Unlike Ronny ‘ s team under Brendan even the most honest mistake by officials will be overcome.
    I doubt if it was a coincidence that PL released news of the proposed development whilst the Ibrox club were looking for a DOF and new management team, and at the same time scratching around trying to fund this week’s payroll.
    I can understand why many fans want to see them dead.
    But step back a minute………..the Supreme Court ruling confirming the tax schemes as illegal is only weeks away.
    Our corrupt football authorities will have no option but to revisit the LNS farce, without Ogilvie ‘ s input, and strip the 7 titles and various cups won during the cheating years.
    That will surely be Karma of the highest order. Can you imagine the squeals of outrage from their fans and the Level 5 press? It will be priceless.
    No more going for 55, try going for 49!

    Reply
  9. I was going to message you a while back Phil, not to encourage the thought of an Ashley return to the blue room by highlighting what Sevco missed out on from investment by a real billionaire. It is quite clear now that the Daily Rectum & co.have picked up on this and are on a mission to stop ’10-in-a-row’. The policy now is to vilify the King of Liars and introduce Ashley via Mr. Llambias. Watch this desperate agenda grow in the seasons ahead as Celtic near at least to another 9-in-a-row.

    Reply
  10. Guys ye need to slow down here. All wondering when the administration event is going to take place. I want to see Celtic hump this new club one more time for good measure . And that way we will also have a claim. Beat them so many times you get to keep them and all that

    And remember that the entire Scottish media will once again be shoving it back down out throat that Scotland need a strong Rangers* As we all know it was Rangers* that got Celtic into the champions league this season…. buckle down, the award winning Media reinforcements are coming..

    Reply
  11. Sometimes you need to check the facts before you post. They had finances under control? Show me where you worked that out Sherlock. A loss of 10 million in their last year in charge is finances under control?

    Reply
    • I suggest you re-read the piece. They were one quarter away from being cash-neutral viz balancing the cash flow at that point. They said nothing about the debt already accrued.

      Reply
  12. What amazes me is the Directors propping the company up! They may lie to themselves that it’s for wages and the good of the club, but they are also putting money in the pocket of the landlord of Ibrox, whoever they are????? So you are simply never going to win. Not sre exactly when, but I think it’s 3 years at least this has been going on which equates to over 9 million in 3 years for rent!!

    Reply
    • The directors contributions at Sevco remind me of gambling addicts. You know, when you are on a real dire losing streak but you keep feeding the slot machine or betting on the next race because you can’t believe this is happening to you and you are convinced that it is all going to change on the next spin or race and be alright in the end.
      A final fantasy is when you lose all your money and have nothing left but a rich pal turns up and loans you a wad of cash to tide you along. Stock or fold?

      Reply
  13. Looks like the BIG investment into Sevco is coming from China.

    Mabey around March or possibly april time.

    The info comes via a taxi driver called George who has “good contacts” and is vouched for by Mark Squeegy Guidi.

    Mark was like a kid waiting to hear how many sleeps it was until Christmas when talking to Geo the well conected cabbie.

    Reply
  14. But Phil, I am sure it is not as bleak as you think. I expect it is only the holding company that is in difficulty and the club itself is in perfect health.

    Reply
  15. I’m a bit concerned by the timing of Llambias statement. As you say Phil this guy isn’t known for his media interaction so there’ll most definitely be a reason why he’s chosen to speak now. Given the current South side shambles and impending legal issues next month it looks a dead (no pun intended) cert they won’t see out March without some insolvency event. That being the case even the most deluded “fans” would finally see King & cohorts for what they are.With current incumbents removed I could see a scenario where Ashley is welcomed to the bigot dome with open arms as savior of Sevco. Sure they would need £100m however to a business man with deep pockets Chelsea leanings that might be seen as a reasonable bet. Hope to god I’m wrong! HH

    Reply
      • More complicated than right or wrong , it is the only conceivable scenario that could threaten Celtics domination of Scottish football for generations to come .

        Reply
      • It looks very much to me like the major shareholders have been/are being advised of imminent administration…1872, then Llambias, Easdales etc. Lots of people who despite past history and on the face of it, have no other reason to be in geographical and timely proximity other than the “glue” that binds them…their shareholding !

        Reply
    • So very wrong.
      This war is a foregone conclusion incidentally. It’s merely a matter of time.
      Never interrupt your enemy whilst he’s making mistakes and all that.
      CCK never had the resources to go to war in the first place. It was all lies. He only had an intention of not paying bills.
      Japanese military strategy wisdom.

      Reply
    • There isn’t anything in it for Big Mike that he couldn’t do elsewhere at a lot less than somewhere around 30M just to keep it going, much less invest in making it better. No sane business person will simply set fire to their money for a potential of continuing a loss making business.

      Reply
      • I think he is waiting for a grovelling approach to come on board, invest heavily, take it, it is yours….only….

        He will respond with a polite decline….and a smile that he has been waiting to break for nearly two years.

        Reply
  16. Big Mike setts his noose, laying siege on the Big Hoose!

    Starving it of supplies, waiting patiently for its demise..

    His victory is certain, decisive, assured, in full view of “The People” he lured..

    The Senators are circling, Caesar exposed, beware the Ides of March he posed..!

    Reply
  17. All things being equal, when can we expect to see the administrators called in? We have now passed the five year point of oldco’s admin so I would assume admin will only carry a 15 point penalty whilst still being able to lie about being the same mob. It seems that a lot of commentators such as yourself have a pretty factual handle on their current status but they always seem to find a ten bob bit for the meter, when will the remaining bears say enough is enough? Can they go on indefinitely propping them up? Is there any chance they can survive a beating by messrs Ashley and Warburton in court? I am starting to believe they have made a pact with Satan who keeps them alive……..just.

    Reply
    • John, you say we have now passed the 5 year point since oldco went into administration, this is correct.

      BUT

      oldco went into liquidation on 31 Oct 2012 which means they were still in administration on 30 Oct 2012. surely that is the 5 year cut off date?

      Reply
      • They didn’t exit administration. The SFA ruling are a complete joke. The whole situation is a farce. UEFA licencing rules state that the football club must be a legal entity. The Scottish authorities and The Rangers have openly stated that the club which Sevco control is and was never a legal entity but merely some ethereal asset which was transferred from one legal entity to another. This status of this “club” does not conform to rules laid out within UEFA’s licencing laws and is therefore not eligible for a licence.

        Reply
  18. Meanwhile the only thing that matters over at the defenders of the bluenosed (sons of guff) is the making of allegations about Celtic and Glasgow city council colluding to rip people off gifting land to Celtic below market rates. You have to wonder why this shower of halfwits have not taken up the baton concerning the club and institution they claim to love…

    Reply
    • Oh how I hope you are right rOY wOOD,

      Bomber broon will be even better than farry berguson…….then it quite literally would be………

      ‘Oh I wish it could be Christmas everyday’ when bomber broon stauns oan steps of the big hoose and proceeds to attepmt to make himself understood by a series of grunts,groans and threats…..

      Excellent prospect for immense hilarity,what a fantastically wonderous thought that is.

      Cheers Phil.Oor Gaelic Maestro,☮️

      ‘The music makes me feel so good,brand new,good for you’

      The late Great,Mikey Dread.RIP.Reggae King.

      Reply
  19. Possibly they shared with the Blue Mile Suits, discretely of course, that they would be announcing shortly the appointment of Walter Smith and Alex McLeish, respectively, as the new DoF and Manager.

    At best, the suits willl have offered a “we’ll get back to you on your application”….at worst, they might have been offered a ‘bless” as they returned to the wealthiest square mile in the world….so close, yet….

    Reply
  20. Well I for one shall be sorry to see them go ! Can’t you chaps be more supportive of the new club ? Surely their fans deserve better ?

    Reply
  21. Do you think this means a potential Ashley takeover again, Phil?

    Llambias’ buttering words about their ‘wonderful traditions’ certainly seem to indicate it, no?

    Reply
    • Why would Ashley take over a business owing King and 3 Bears £18m plus other unknown deals done in the last two years? When he only holds 8.9% of shares?

      The time for new deals when the old ones have not been honoured is never.

      Everyone, absolutely everyone who labours the Ibrox wonderful old traditions, culture and history these days is taking the piss with a straight face. Wise up!

      Reply
      • No one owes anyone if the company goes bankrupt and Ashley sees a chance to screw the Billys again, like everyone else has done.

        Who walks away from tthe goose that lays the golden eggs?

        Wise up yourself. And mind your feckin manners.

        Reply
  22. So are we back to the players taking a pay cut or the Season Ticket holders being asked to pay in. It looks like one minute to midnight and nobody can find the key to the chest with the other £12M (£18M having been spent of the £30M!!!). Anyone have a one pound coin …………. multi billionaires only need apply, no proof required.

    Reply
  23. Oh dear!!.. How sad! Too Bad!! Never mind!! In the words of that famous songsmith, Mr P Weller, “lights go out -walls come tumbling down!”.

    Reply

Leave a Reply

error: Content is protected !!

Discover more from Phil Mac Giolla Bháin

Subscribe now to keep reading and get access to the full archive.

Continue reading