This Friday the Sevco High Command will be in a vital conclave.
As has been stated here passim the Holding Company Vehicle will need external finance this month.
My information is that the minimum amount required is £4m.
Moreover, I’m told this injection of liquidity will get Sevco to approximately February 2018.
However, last week a senior director of Rangers International Football Club (RIFC) made it clear that this time he had a maximum amount that he could contribute.
He told his Churchillian colleagues that the figure is £1m.
The director in question made it very clear to everyone within the Sevco High Command last week that is the most that he can pony up this time.
So, a non-negotiable one mill and that’s it.
Therefore, the others will have to contribute the other £3m.
This is rather significant because last year the director in question stumped up £1.9m of the £2.9m that was required in October 2016.
The other £1m was covered from five sources.
You may recall that the £2.9m was required so that the annual accounts could be signed off.
Since the Off Licence Putsch of March 2015, the director in question has contributed more in external finance than any other member of the Sevco High Command.
Apparently, he was told last week by the Chief Financial Officer of his own business that he could not continue to bail out the loss-making business at Edmiston Drive any longer.
So, £1m and not a penny more this time.
Of course, The People are very fortunate that Mr David Cunningham King is a man of great personal wealth and a deep affection for his beloved basket of assets.
Dave will come through.
I’m sure of it.
After all, Mr King always tells the truth.
A major investor with wealth off-the-scale will inject 250m into Rangers. Wishing to remain anonymous until the funds have been lodged with The world’s most successful club it is understood he has interests in Facebook, Apple and a considerable stake in a Farm Foods.
your tickling me lol
Hope you’re going to forecast a win for the good guys vs Dublin, Phil.
Off topic, I know.
Believe…
Phil, did you not hint that o’halloran was too expensive to play much, is this why he has no future at the rangers?
Big ‘Eck’ seems to be cropping up a lot on the pundit and ‘vague interview’ circuit recently…
Call me a cynic (I am!) but something tell me this is no coincidence and there is a motive behind the sudden ‘profile raising’.
Not saying Pedro has been given a set of Portuguese lawnmower instructions,
but….
The sites much better Phil, the previous change about was honking!
Some can’t afford not to lend more as it keeps alive the only very slim and obscure chance they have to find a way to recover the money they have already lent.
If they don’t lend more then the whole shebang might fall over.
What an awful dilemma for them. Lovely to watch and see what happens.
The “sunk costs fallacy”…
In gambling it’s called “chasing it.”
Never ends well, walk out the door with what’s left in your pocket.
Your contention that Jamie Walker was going nowhere this side of Hearts getting their full monetary appraisal proved the hacks wrong ,yet again .
This despite the underhanded attempt to pressurise Hearts into submission and unsettle the player ,complete with accompanying articles testifying to how unsettled he was , and via a very public media onslaught ,instead of the private negotiations that should have taken place .
Having failed in their assistance ,two of the daily sevco hacks , rather than cut their losses ,are now trying to spin it into sevco wont be blackmailed into paying over the odds for players and are being more prudent with their boodle. You really couldn’t make it up. Glad you had a good day Phil ,it sounded exceptional , cheers and be lucky
There’s no end to the crap that the Daily Radar and ET will print. An inexhaustible supply of players and former players all talking things up to create a feelgood factor.
Hugh Burns, remember him?, the latest to come out with the claim that Rangers will be competitive in all competitions this season……wakey, wakey Shug, Europe has already gone, knocked out by the 4th best pub team in Luxembourg.
In doing so blowing a hole in Kingco’s budget plan which included Europa Cup Group Stage participation.
Senor Pena ‘ s lack of game time doesn’t warrant a mention in the media but the lack of ambition shown by Patrick Roberts and Kieran Tierney does.
MOH wins player of the month and confirms from the inside that the pound shop Morinho is difficult to understand especially for Kenny ‘ s What’s App Group, rapidly diminishing as the UK contingent are moved out.
With his tactical nous already questionable it also appears that Pedro was unable to improve any of the players shipped out therefore questioning his people skills, as aptly demonstrated with his MOH comments.
Another skelping in 3 weeks time will not sit well with the fans, nor with the supporters with typewriters.
Next man in will be left with Pedro’s imports most of whom have Portoguese or Spanish as their first language, making an already difficult transition well nigh impossible, unless of course the next guy in is also Portoguese.
Special day 5th September Phil, Noreen Bawn and the prince of goalkeepers, hail hail .
Phil, although the vital conclave is set for Friday, when is the date for the amount of £4 million to be paid by?
Goodnight from him and all that.liquidation
Presumably the promise of debt for equity prompted those with available monies to pony up.
With no prospect of a share issue, now or ever, thanks to King’s reputation and the pending Court Of Session judgement then they have burnt their monies , so what now for the RRM?
Internal loans of £10m plus, some of which are scheduled for repayment in December with no prospect of that happening, what next?
Transfer window closed,Pedro has replaced an entire squad, what does that say about his man management skills. 12 in eleven out,or thereabouts.
Across the city the new bhoy has developed and improved half of the players inherited from Delia, whilst Pedro’s response is to get rid of his inheritance!
I like Pedro, he says things that are funny, not intentionally, and must go down a bomb in the pre match dressing room chat.
Pedro the dud will be found out son enough and hounded out and the Sevconuts will want to get back to their old ‘Traditions’, whatever they were/are…. I wonder how they do that with a team of players who are a daily reminder that they can’t get back to their old ways so easy.
Presumably deja-vu again next season, new season, new manager, new team, SB money used before they are out of the Europa.
They can’t see the wood for the trees, cause the forest is burning….and they say it’s the smoke in their eyes that’s making them cry
(Inspired by View from a hill, Fish)
give us a hint who is putting the money in Phil love your work hail hail
Oh the joy these posts give me. Thank you ever so kindly sir.
If he is who I think he is ,then hell mend him. Coming from a mining family ,my memory of this man’ vehicles going through the picket lines will not be erased.
If he was stupid enough to engage in concert with a reptile of the first order ,despite having been warned by your good self and others, he shouldn’t be surprised when the mono eyed snake crushes him by the gonads.
When the most honourable Charlie bought the basket of assets I’m sure he meant to say that he had acquired a brock/broke bin. Appropriate I would say..
Hi glad to read earlier of the good evening had by all in An Fal carrach after the HUE. Having spent many a day on the hills opposite I’m sure everybody would have appreciated the views of Gaoth Dobhair and the surrounding areas. Another very enlightening piece as I must concur I’ve been hearing similar rumours of late from a few older sevco supporters I bump into from time to time and share a shandy or three. They are starting to look more seriously at the figures coming out of ibrokes and wondering how long this can go on for. One of them who had a very successful business and knows how these things work better than I reckons liquidation mightn’t be far away. They are not the happiest of men these days. Keep up the good work.
Last thing Sevco needs right now is a MASSIVE country/world wide recession.
Of course, everything in the UK and around the world is chugging along nicely and we are pretty much experience a boom year.
!!!!!!!!!!!! BOOM !!!!!!!!!!!!!!
Shrewd move. Having put so much in while others watch with their short arms in their long pockets, it would be grossly unfair if he was positioned by Level5 and SMSM as the man solely responsible for letting RIFC slip into Admin and Liquidation while sitting on huge personal wealth. A problem shared is a problem halved etc. Implicate the lot and make sure any blame is evenly distributed.
He is probably also preparing to walk away sharpish if King makes any public move to implicate him in the Takeover Bid judgement – very bad news for the family business.
All in all, he has got himself into quite a pickle by dealing with Dodgy Dave expecting anything other than dirty deeds, low cunning and absolute diehonesty.
diehonesty = dishonesty
[Phil, can your guy add spell checking to the comment window?]
“Diehonesty” works as well. ?
Being a bit pedintic there cass ( yes I know )
There are a majority of Rangers fans who think that Dave has rescued them from the grave, new merchandising deal et al, but not much evidence of who will be manufacturing the new strips and who will be selling them on behalf of the thingy?
There was much fanfare in the press regarding the new retail deal. Mr King described it as a “game changer” and the obedient sports hacks printed his words verbatim.
Well, now it’s time to see how the game is changed.
Anyone holding their breath??
Thought not.
My money is on Lion Brand if they make it as far as next season.
What about the US & HK monetary funds phil? Can they not Pony up with the rest?
Ebeneezer, maybe it’s Ethelred well whatever. What about Lady Mone of Mayfair’s current beau who ,it is alleged in daily hunchback, is involved in some dodgy, ALLEGEDLY, offshore tax avoidance thingy.(allegedly). Would that not qualify him as a RRM?
Just saying like.