The rebel faction of the Sevco High Command had an emergency meeting yesterday.
I’m not surprised that the main item on the agenda was the alarming influx of players.
The chaps around the table were spooked because the cost base is rising inexorably.
The UK-based agent that has been tasked with shifting players out the door has, so far, met with little success.
My information is that one “lower championship club” has expressed interest in Barrie McKay.
The English club was willing to bid £750k up front with it rising to £1m with add-ons.
However, the Holding Company Vehicle had hoped to bring in at least £2m for the winger.
As well as the new arrivals other players in the squad will be receiving contractual increments.
My information is that the signing on fees, at the time of writing, is totalling £1m.
Of course, Senhor Alves will account for the majority of that sum.
With each passing day, the Daily Radar has more breathless coverage about a new star arriving at Ibrox.
Although the transfer fees have been conjured up by high-Level sources, the wages are real enough.
From the outside looking in this doesn’t look sustainable.
Moreover, it would appear that the sensible wing of the Sevco High Command agrees with me.
Haha
Due to the fact Sevcos current players are only paid prob 48 wks per year..Possibly using wages..That might have been paid June/July to pay agents fees & signing on fees hoping & praying other players are offloaded before season starts!!!
Well this is awkward, another playing signing today? Emergency meeting obviously not too much of an emergency! How much of the 500k pot is that Pedro’s left with…?
The awkwardness will come if players are not sold or removed from the wage bill by the close of the current transfer window.
Although the transfer fees being regurgitated in the Off The Radar press have a high-Level provenance the wages are real enough.
Sorry, nothing should read anything. Thank you
I wonder if any of hunco hierarchy ever read anything of the brilliant wordsmith Charles Dickens. Besides having a recognised social conscience he was something of a visionary in financial matters.
In David Copperfield, Micawber posits the following financial advice.
“Annual income twenty pounds, annual expenditure nineteen pound,nineteen shillings and six pence,result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. ” ( that’s old money by the way. Lol)
These people do not appear to have learned nothing from history or maybe CHE is on the right track.
Out of sheer boredom, I decided the other night to do a little research on sevco’s latest recruits. Sorry, superstars. I thought I would start with the Mexicans. Eduardo Herrera, 29, has only made TWO international appearances. Both two years ago this month. Carlos Pena, 27, likewise. He made a final 10 minute appearance in the last group game at the 2014 World Cup and has since played only twice. Once in a friendly and once as a second half sub. Jose Abella, 23, has not made a single full international appearance or, as far as I can make out even made a squad. There’s NO WAY any of these guys should get a work permit. What we have here is the same smoke and mirrors we have seen for the last 5 years to con the gullabillies into buying season tickets.
not a criticism but new players don`t arrive at ibrox . they “jet in “
Then they feck about a wee bit, then they walk away, infinitely richer than they ever thought possible, given both their poor skills and the urgent need for the gullibillies to believe that they’re a ‘world class club’, rather than the gathering point for racist hatred that they seem only to exist for, and have only ever been.
I had one tell me the other week that there’s a ‘Rangers*’ Fans For Palestine group too, albeit with the priceless caveat that they are, admittedly, much smaller …
Wee Billy and his dug, then ..?
There is something not right about sevco 2012 seemingly being flush with cash to tempt all these foreign players to the sunny climes of Scotland .
Could this be the last gamble of a desperate board attempting to stop 10IAR at 6 as they know they don’t have the funds to keep a loss making company going year after year .
Or is it as others suggest ,rushing it to an admin event .
Either way it seems to me that this can only end one way ,BADLY .
A long time ago my four year old son rolled up and confidently told me and his mother that he and his pal Nicholas had been to a garage sale and like it so much they were going to have one too. We did that “that’s nice” thing because we didn’t have a garage but Nicholas’s house did so his parents would organise it.
The garage sale never happened because neither child understood that saying did not make it so and these parents at least didn’t twig the difference between an assertion and a request. When you’re 4 that’s how the world works – tell and adult and it will happen. Fortunately, 4 year olds don’t have the capability to spend the proceeds of the garage sale before it happens.
Somebody has decide to have a garage (fire) sale at Ibrox and on the strength of that someone else is spending the proceeds. Economics for four year olds.
Trust a Sevco director with a credit card?
Remember Malmö ……
Remember when we were running out of money by November 2015?
Hence the need for emergency finance from a director…
That situation is, ultimately, unsustainable.
The fact that no bank will offer a credit line is telling.
It is only because the local media are obediently silent on the issue that it isn’t in the forefront of any discussion on Sevco finances.
You did run out of money by November 2015! Duh!
That’s why you owe several directors circa £20 million!
How much more can they come up with as the months go by as the profligate spending goes on?!
You have a place in the Europa League only because you have spent more money than you have earned.
I have no idea why Hearts haven’t complained about this.
Dave King is like a wee boy with his season ticket pocket money on a Friday and can’t resist spending it all at once but forgets he’ll have nothing left by Saturday night.
Who will pay the bills when the money runs out?
Eventually all the directors will run out of money too and that’s when the big hoose of cards will come tumbling down.
It’s taking a while but it will happen.
Remember when oldco ran out of money, remind me what happened to them ?
hi Phil,
I know you rarely comment on other sites – but IbroxNoise thinks the summer spend by sevco will be 10 million – what are the REAL figures – and where is the cash actually coming from? Have they done a ticketus??
Allan
I trust Glib was in the USA on a business visa. He was carrying out serious business activities targeted at taking funds out of the USA and into Scotland with zero chance of returns.
How do the USA authorities view all that on a tourist visa? And money flowing out? Not very Trump!
Just how does the convicted criminal even get into america , joey barton has less of a wrap sheet than the glib n shameless 1 and he was banned
It looks to me that the Lyin King is spending the whole season book money before the judgement that could go in favour of Mike Ashley comes to fruition.
It could be that he intends leaving nothing in the coffers before a pre planned administration.
I must agree, King is either working a ‘scorched earth policy’ on Scottish fitba, destroying everything in sight, and thereby ‘stopping the 10’, or the handshakers of the establishment have indeed decided that ‘there will alway be ‘A’ Rangers*’, and will prop up this long con forever.
This week has shown a demonstration of establishment power, and there’s no one to stop them but the fans themselves, and we’ve seen how bored and frustrated they’ve become with it all.
‘Now give those tims a treble and shut the lot of them up!’
They have learned nothing! Liquidation #2 is on the horizon!
“Liquidation #2” is a logical impossibility.
Actually it’s not. What he means is that these same directors have overseen two liquidation events with two different clubs.
?
No players out but plenty arriving…..plenty of money going out but none coming in apart from season books……won’t be long before they’re swirling around the plughole and disappearing for ever
Looks to me like the GASL simply doesn’t believe that the rebel faction of the High Command would stop covering the losses. He’s counting on their loyalty to the club and has probably threatened them that if they don’t fund he will make sure that they get blamed for demise. IMO, he will continue to call their bluff.
Agents need signing on fees. Agents don’t work for free. Sevco has to cover that upfront.
Regardless of club selling fees.