One of the most interesting things about the signing of Graham Dorrans was how it was financed.
I’m told that the member of the Sevco High Command who was asked to write a cheque refused to do so.
This is significant as this is the man who has been keeping the show on the road.
Yet despite the best attempts from his esteemed chairman south of the Limpopo the West of Scotland based director refused to pony up.
Consequently, the monies that Norwich City received came from central Sevco funds.
I was surprised to learn that the English club was happy to accept the transfer fee in two tranches.
The response of said West of Scotland based director to the Dorrans saga is instructive.
As it currently stands there will be a requirement for fresh funds at the end of September.
Last year emergency cash was required at the end of October.
Remember that we have already seen that Sevco required external finance last month.
We know this because Mr David Cunningham King said so in a presser.
Taking my lead from Judge Southwood I didn’t take the convicted criminal’s word for it and I checked with other sources.
On this occasion, Mr King was being truthful and Sevco did indeed require emergency funding in June.
The half-arsed financial plan that they were operating on this for this season was heavily reliant on Europa League revenue.
It must be clear, even to The People, that there will be no more European money this season as Sevco did not Progres in Europe.
Consequently, the chaps in the Blue Room will need a cunning plan.
A plan so cunning that it might have been thought up by a Professor of Cunning with 41 criminal convictions.
However, I’m sure that Mr Dorrans will do well at his new Engine Room Subsidiary.
He will know that he is accepted among his Quintessentially British work colleagues when he receives a WhatsApp invite.
I hope he does.
That would be nice.
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Even with record ST sales the wages being paid to Alves, Dorrans, Pena et al will stretch their finances to the limit.
Those providing the soft loans must be at the end of their tether but you can understand why they are still feeding the beast……….the minute they stop then they will lose everything!
A share issue and debt for equity swop is a forlorn hope with King on the premises and the cold shoulder beckoning.
If Kingco had budgeted for even a 2nd round in Europe with a full house and additional prize money then the brown stuff will be flying……….of course that could be replaced by the revenue from King’s super duper deal with SD.
In the meantime the manager, and his backroom staff, are dead men walking. If they get to the Celtic game in September another defeat will be their last.
What then? A dressing room full of Pedro’s buys, most of whom have Spanish or Portoguese as their first language.
If Pedro fails will those who were blown away by him at interview fall on their swords?
The glib and shameless liar, the mendacious witness speaks:
http://www.dailyrecord.co.uk/sport/football/football-news/rangers-chief-dave-king-says-10756763
a complete windbag full of hot air. What a ridiculous argument completely illogical and desperation for court.
The SFA is a limited company. It could not survive substantial class action law suits to defend the RFC cheated titles and compensation claims.
The SFA would go bust and be replaced with something new.
Defending RFC cheating will destroy it.
RIFC Owners and Board need to come out and admit cheating and hand back the titles. It’s the only option available.
Mate, the titles aren’t RIFC’s to hand back. SFA & SPFL must amend their records of past achievements of the former club. It’s very simple although SFA clowns have already spouted about lack of machanisms to do so which is complete & utter bollocks. Strip the titles, forfeit the cups & trample all over their legacy. An infamous former club that died in shame. They subverted & shafted OUR game for decades for their ill-gotten gains. The new club is trying to do the same with the help of handshakers in the SFA. We must sweep them all away, neuter their influence & enjoy a level playing field in rest of 21stC.
My Learned Friend, if the SFA went bust then surely they would just continue as the SFA with an uninterrupted history of incompetence dating back to 1873. Sound familiar?
Ah, quintessential such an elegant word that veils a staircase of inner fraudulence……shall Dorrens be the Sixth Monkey to ascend to Chamber of Inner Horror……
As a fellow Glasgow GAA player I wish him all the best at his new club. I hope he finds his new club as welcoming as he did the Glasgow GAA scene where he played in his more tender years. I don’t know if he’ll draw parallels between his youth and Mr Neil Lennon’s and the good footing a background in GAA gave him in soccer….but I’ll be a f**king monkey’s uncle if he does in front of The People!
Given Rangers (1872) became Rangers (2014) who now have serious risks and concerns of becoming Rangers (2018) why are fans not demanding “explicit transparency” on the ten new players “undisclosed fees” and reports of £33k a week???
Given Rangers (1872) became Rangers (2014) who now have serious risks and concerns of becoming Rangers (2018) why are fans not demanding “explicit transparency” on the ten new players “undisclosed fees” and reports of £33k a week. Any others see this???
Given Rangers (1872) became Rangers (2014) who now have serious risks and concerns of Rangers (2018) why are fans not demanding “explicit transparency” on the ten new players “undisclosed fees” and reports of £33k a week. Any others see this???
Dorrans, as players invariably do, improve when playing in better teams and revert to type when those circumstances are reversed. Time tells.
Caixinha has certainly been backed by significant undisclosed cash and a glut of players, one report suggesting sums of £33k a week. The OTT undisclosed fees should be screaming out to fans to demand “explicit transparency” of financial affairs given it is only three years since directors ended Rangers (1872) and started Rangers (2014). Whyte was a well known asset stripper of companies and was put in place by SDM to do just that. A pound for Rangers? Unless you’re behaving like a proverbial, it tells you everything.
King Dave is a less fit and proper person than Whyte. Whtye was not a criminal in the country in which he lived when taking over. King is. Unless Dave is channelling millions to fund all these new players then fans should demand simple snswers to simple questions like, can someone tell us where the money’s coming from? Otherwise the club will be another three years down the line looking for another £1 buyer who asset strips Rangers (2014) only to start Rangers (2020) which incidemtally is no reference to Dave King’s vision. Guys like King, Green and Whyte, don’t have vision, the latter two are boom and bust guys, the former a proven criminal, who screw people like you and me for money.
Fans deserve answers given recent boardroom antics and yet so few are demanding them. This week saw fans surround and scream at the team bus in Luxembourg. “Chants rang out, you don’t fkn care!” Well the fans that do should ask for a simple question as to what’s the full no strings story. When do we go from paying beyond our means to another potential winding up?
New Sevco Rangers were started in 2012.
Dorrans is a fine player and one of just a few Scottish lads in recent years with 6 or 7 seasons of EPL football under his belt.
The problem is that he is now 30, so there is no resale value, unlike Barrie McKay who has gone to Nottingham Forest at the age of 22, and the teenager Gilmour who went to Chelsea. I would also predict that Alves will be one of their top two earners. This is a dangerous strategy to pursue – and of course it is all done in the hope of preventing Celtic obtaining 10 titles in a row.
I have zero sympathy for Rangers and their finances. They get almost 50,000 people – The People, apparently, whatever that means – through the gates most home games. They should therefore be able to cut their cloth accordingly. That they choose not to is only going to contribute to their downfall.
I am of a firm view that Hearts, Aberdeen, Hibernian, St Johnstone and others will be hoping to prevent Celtic win a seventh title in a row, but they will not bankrupt themselves in the process.
Phil is there a back stop date when Sevco must provide audited accounts
The better the team, the greater scope for any player of any sport to improve. Dorrans’ game will now revert to type but this also applies at board level. Where is the standard now?
Dave King is by law of the country he lives in, a criminal and is running Rangers (2014) frighteningly close to where Rangers(1872) ended up.
Am astonished fans of the club are not demanding complete transparency. For example, ten players arrive on undisclised fees with reports of £33k a week being agreed with one player. Suggestion: Freak out! Given that Rangers (2014) as a concern is only three years old, why would fans not be fighting tooth and nail to know what’s going on. Unless King Dave is funnelling millions through hidden accounts to fund new signings, then where is the money coming from? One thing’s for sure the accountants must be magicians if they can balance then publish what is going on! Because nobody else knows! I wonder why? Fans were screaming at the team bus in Luxembourg. “You don’t fekn care!!!” Surely the fans must?
If rumours of a £30,000 + a week deal for their Mexican ‘superstar’ prove to be fact…
..they will be needing emergency loans on a monthly basis.
Maybe that ‘previously chequebook happy’ director knows the way things are heading?!
Dave King told the *truth*!? Well, I’ll be ****ed.
Aye, the truth seeps out slowly, even from the mouth of a liar like King.
And nothing can stop it now.
Very interesting again, Phil. Excellent work. HH