There was been much high-Level froth about Ross Wilson as Director of Fantasy at the Engine Room Subsidiary.
My information is that the Southampton chap has been in discussions with the Sevco High Command.
However, I’m told that when the dignified bombast was cleared away, the young talent spotter couldn’t get an answer to one vital question:
His budget.
The reality is the Holding Company Vehicle is in such an acute cash crisis that any ring-fenced funds for the Director of Fantasy are a non-starter.
The Sevco High Command hoped that Mr Wilson would open the door to the Next Generation loan deals from Southampton.
It would appear that the chaps in the Blue Room are still looking for free players.
There is also the fact that young Mr Wilson is on good terms with the Ibrox Three.
So there should be no problem in him getting the inside information on the Holding Company Vehicle.
I’m told that a rather blunt report dropped onto the boardroom table on Monday.
It was compiled by a restructuring specialist.
His professional opinion was that for as long as Mr David Cunningham King was in situ then it would be very difficult to attract appropriate outside investors.
I think the use of the word “toxic” probably says it all.
At the time of writing Sevco is a loss-making business without a credit line from a bank.
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If anyone made Robertson even a barely acceptable package he’d be out of there in a heartbeat. What’s his notice period? 4 weeks?
Perhaps he would be good at global logistics for Sports Direct?
With luck he’ll get resigned and join Warby plus 2 on the litigation train.
Hardly an unaswerable question.
Whats my budget?
Nothing.
I read Clumps latest piece and I considered giving up reading about “Rangers” for lent. However, I realised that this was a silly thought. It would be easier to give up breathing, heroin or crack cocain than my daily dose of hilarity at the holding company vehicle/etherial entity/engine room subsiduary thingy that is TRIFC.
RIP TOMMY GEMMELL… Another Legend Leaves The FIELD.
RIP Tommy Gemmell
I have never thought the Glib one had any skeleton of a business plan. His goal was to wrestle control and get his name in as chairman (as yet uncontested and never voted for). Once he easily achieved that goal it was (to use a good football term) a hit and hope.
The gamble hasn’t been paying off for a while and the Glib one is out of his comfort zone. He has been looking for an escape since the backend of last season imo. Adoration from the fans has all but gone and he has had his fill of working his face in the meeja and avenues to syphon off anything but small change are dead.
The Gullibillies talk of King as owner, he owns nothing but some shares and holds sway with some RRM in the same boat. The board was never set up with the talent to take even a well run and profitable company forward, never mind this basket case.
I think their late winner last night might mean Murty has the Celtic game, can’t wait.!!
Do Celtic really want them dead? It doesn’t make for good business if the thing that makes you money isn’t there!
Fans would get bored again very soon if Celtic didn’t have to try so hard each season, just think back over the last 5 years.
Celtic are better with a poor Sevco than no Sevco.
This sound like a “long live the Sevco” post but its not, its more a ” long live a pish Sevco” it would be boring and no fun without them.
Another one who thinks we need sevco to survive.
Over the last 5 years we did not have a manager of any standing.Deila was an imposter,and Lennon was a rookie Rogers is the real thing and with or preferably without sevco we will rule Scottish football for years to come.Yes and we can do it without the scab sevco in Scottish football.I take it you will be quite happy to rebuild everything they destroy at Paradise every time they visit.You also seem to miss the fact that all the money we have accrued was accrued without any help or money from sevco.Sorry mate but Scottish footbal can really climb the hieghts again without TOXIC sevco.
Without Sevco this season there would be no Rogers. Celtic would have continued along the same cheap road.
Gobsmacked has stolen my thunder.
King is toxic, that’s a given.
He exits stage left with/without a payout….
Problem solved?
Hmmmm.
Well noted David Low aka @heavidor has mentioned basket case has a chance! How so I do not know! He does say tens of millions needed and peace with HBM! I have questioned a few times but he is consistent on this! I take him at this but struggle to see where the tens of million will come.
It’s very simple. For Sevco to succeed financially they have to displace Celtic. Celtic have relatively huge wealth and a foothold on Scotland’s place in the CL…..and with that comes huge financial upward momentum. For Sevco to compete they have to break Celtic’s grip on the Scottish scene and by definition take their place on the European stage. To do that takes infrastructure in the form of a fit for purpose stadium, quality management, competitive squad, ability to rotate the squad with a similar winning outcome, a successful scouting model, a board with commercial integrity and trust and importantly ‘a credit line to a bank or banks’ for expansion in our case. A credit line to a bank for Sevco would only provide working capital….which would soon run out as losses consumed the P&L account…that’s of course based on the assumption they had anything of value to secure against any loan.
Think of a number, in tens of millions of pounds,whereby they could even begin to compete with Celtic…..
They are literally light years away from Celtic and the ‘gap’ is getting bigger. It gives me the greatest of pleasure to see the entitlement culture realise they are well and truly finished as a force in Scottish and European football. Our day has come.
If Sevco are so bereft of funds, I’m surprised they haven’t tried their luck on Dragon’s Den. I’m sure that with some slick marketing, they could punt (no pun intended) bargepoles around the Square Mile of the City of London! I’m sure there are quite a few corporate bankers (not the Cockney rhyming slang ones) who could benefit from ownership of one, in the event that, should a Sevco delegation come calling, they have something that they wouldn’t touch them with!
My ma used to say good riddens to bad rubbish and sevco are not only rubbish but on the way to the dump.
And they are just drooling over a 91st minute winner roll on a week on Sunday celtic were absolutely devastating tonight
Cheers Maestro,
Keep waving that baton,creating this symphony of great tidings of the ongoing serfco fiasco
Oh dear… It’s just as well that Sevco have a strategy prepared which will fix everything… [If I may…]
https://theclumpany.wordpress.com/2017/03/01/giving-up-rangers-for-lent/
I’m glad you add the disclaimer “NB Remember folks, it’s just a bit of fun” to some of your articles. At this stage of the game it’s getting very difficult to tell the satire from the reality…
Aye, it’s too true to be real, and too surreal tae be true.
Yet true it is, whether they like it or not.
Excellent! Even if you forgot to include he BDO vs Duff and Phelps challenge !!!
I have this feeling Mr King is trying to facilitate his own departure under his own terms. The problem for those of the blue persuasion is that Mr King does not care who he screws over, he knows the rangers are a bust flush. He now has only one card left to play, and the only way he can play it is to alienate all and sundry, he cares not a jot about rangers debts its directors or the supporters, I’m afraid this is all going to end badly, with king walking away with his money leaving the directors and supporters with a huge pile of debt. Their only hope is Mike Ashley.
You may be unfamiliar with the term “restructuring specialist”. If so, this may shed some light on the nature of topics under discussion:
Creating Value Through Corporate Restructuring, Harvard Business School – http://www.hbs.edu/coursecatalog/1420.html
“Restructuring is the process by which companies renegotiate the financial contracts and commitments they have entered into with their creditors, employees, suppliers, customers, and shareholders, usually in response to some financial challenge or crisis. Often it is also necessary to restructure the company’s operations by cutting costs and selling assets. Topics covered in this course include Chapter 11 bankruptcy, out-of-court workouts, distressed exchange offers, ‘Section 363’ asset sales, pre-packaged bankruptcy, debtor-in-possession (DIP) financing, equity spin-offs, tracking stocks, “downstairs” mergers, buyouts, ESOPs, restructuring of retiree health care/pension plans, and corporate layoff/downsizing programs.”
In the UK, BDO is a good example of a Restructuring Specialist – but of course they also offer other services if restructuring doesn’t work out – think of them as A&E trauma doctors ready to offer a helping hand with some embalming – on very favourable terms – should the need arise. All done in the best possible taste and with maximum dignity – https://www.bdo.co.uk/en-gb/services/advisory/business-restructuring
Ooh, nice one again, CC, this reminds me of that skit from The Fast Show where the guy’s wife asks if he remembered the shopping she sent him for and, every time, he goes,
‘Oh, sorry, dear, I forgot tonight’s dinner but I DID manage to find some out-of-court workouts, a bag of distressed exchange offers, a pile of equity spin-offs, 363 baskets of worthless assets, some secret ‘downstairs’ mergers, and the potential for massive bankruptcy!’
Or something along those lines
Surely there is €12M of the €30M left. The implication that the exit of DCK will inspire the banking world to rush to lend substantial funds to a loss making business does seem a stretch.
“surely…..”……there is a word we will hear at the start of many sentences in coming weeks….
It won’t be long before the industrial waste that is Sevco is declared a “Superfund” site. Surely …