There is a meeting of the Sevco High Command today.
Could this be the day when Chairman King is involuntarily propelled under the moving wheels of a road going public conveyance?
Just before the festive break one of the directors of Rangers International Football Club (RIFC) stated the following to the Serious Professional:
“You know, this might be the opportunity to come clean with the fans”.
My source stated that his understanding of this conversation was that the director was referring to the South African based chairman.
In other words, it was time to tell The People that the chaps in the Blue Room had been duped by King.
That they had believed his lavish tales about offshore millions just waiting to be splurged on his beloved basket of assets.
Of course, it was all feelgood fantasy.
King told his Concert Party colleagues what they wanted to hear.
Instead, King used his favourite substance-OPM.
It was, indeed, Other People’s Money that funded the hostile takeover in March 2015.
King was sure that there would be zero journalistic scrutiny from the Radar press in Glasgow.
He was entirely correct in that assumption.
Since the Off Licence Putsch in 2015, the sports desks have obediently regurgitated the high-Level pish that has been fed to them.
I was asked in a comment yesterday about the possibility of an appeal by Mr King against the Court of Session ruling.
I was told today by a source close to the Take Over Panel that they were very confident of the final result.
They said that King’s only hope for an appeal would be to find some ambiguous wording in the ruling that could be then open to legal argument.
Because they were aware of that danger everything had been checked and re-checked.
I got the sense that these guys really want King.
Indeed, another source steered me in the direction that Mr King is now urgently seeking legal advice in South Africa.
He is doing that because he wants to know whether or not this shit show in Scotland could travel south of the Limpopo to bite him in his country of domicile.
Meanwhile, the Sevco High Command have to deal with Dave’s mess.
Alastair James Johnston is in the Blue Room for the correct reasons.
He is emotionally involved with the Ibrox thing and that is his strength and weakness.
What is undeniable is that the non-King faction within the Sevco High Command has finally realised the extent to which Dave kept them out of the loop.
That realisation is frightening quite a few of them now.
Developing horror show…
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C’mon the PARKHEAD 69ers hail hail aw’ the best PHIL
I didn’t know Lewis Morgan was an ex Rangers youth player.
Level 5 has lost the plot.
Squirell set running with tales of a £3.5m buy out clause in Windass contract and an offer from an unknown club to meet the clause and present Newco with a will we, won’t we scenario. Wow…..
Now this morning Wigan appear to be the interested party but have had a £200k offer knocked back as Windass won’t be sold for less than £2m.
You couldn’t make this crap up…..oh hang on, someone just has.
£3.5m buy out clause, feckin hilarious.
I actually want King to stay. He is a bigger con man than his predecessors and couldn’t care less about anything but money. His business sense amounts to who he can rip off next. He will put no money in and has no capacity to raise any. The guys who keep putting up the soft loans have been duped. Only CL money can help and how are they going to get their hands on that ?
I see Ibrox Noise are reporting a £3.5m bid has come in for Josh Windass. That will be another bid from ‘an unknown agent, from an unknown club from another universe’. Ibrox Noise are not sure if Murty will sanction the sale. (Now stop that laughing you lot!)
If Murty rejects the £3.5m Sevco will be okay as they have a warchest ready to be spent in the transfer window already.
You could get any Sevco player right now for £700k max.
They are all murder polis
HH
Phil why don’t you look into where rangers got the money for there transfer policy last summer interesting reading
Tell us more Hugh….
Ah Phil the good old concert party.
“ Meet the gang cos the boys are here,
The boys to entertain you
With music and laughter to help you on your way
Raising the rafters with a hey,hey,hey.”
This wee song has everything.
Jimmy Perry and David Croft must have had a premonition.
Thanks again sir. Yeehaa
If King is sent packing the boardroom survivors will have the little matter of the audited accounts to explain. As a board they are collectively responsible and should therefore share the blame with King. It would appear either way the shit is likely to hit the fans. Will they wake up to how they are being duped? For the sake of their club it must be the right time to speak up. A touch of democratic outrage would be a nice change from the true blue loyal clown act.
Can I ask that in the run up to Saturday, we all remember the Celtic Park toilets in our prayers and thoughts. ?
My prediction here is that GASL will become the new General Ashley and have the club and those who oust him in a proverbial head lock from far away in South of the Limpopo.
1) GASL will not abide my the ruling of the Take over Panel. His legal advice will say that the Panels decision and power thereafter is only applicable in the UK, even more so after Brexit.
2) GASL will then retreat to Sooth Efricae with two fingers held aloft.
3) Takeover Panel will then cold shoulder TRFC.
4) TRFC then beg GASL to sell up and move on for the sake of the club.
5) GASL says ok I’ll sell up for 28p per share and cash in any soft loans due.
6) This will as ever take some considerable time to play out and by which time some considerable reputational damage in financial circles will have occurred.
7) I cant see any nomad touching sevco as a result for some years ie share issue which has always been the shortcut plan to convert debt to shares.
TRFC will be desperate to get rid of GASL and he can demand whatever he likes as a result, otherwise he can sit with the effect of cold shouldering but the other TRFC directors businesses will be affected the greatest.
Keep up the good work Phil!!
That’s not an implausible scenario. Nothing that might happen at the Govan circus would surprise me now.
Agree with 1 & 2.
3) TOP cold shoulder only applies to people not companies
4 & 5, GASL won’t leave quietly for sure
6) can’t see their reputation getting any lower. …
7) Share issue by the directors in lieu of loans doesn’t need a Nomad. A public offering might but I don’t think this is planned.
The other directors will not get away scot free and the promises made to the auditors could come back to haunt them.
Are you the original Aw_Naw?
Does AJ Johnston have the finances to rescue Sevco?
Given his links to the old club and his openly sectarian ( no surrender) comments would he pass the “fit and proper person test”?
Will he be another absentee leader just like DCK?
Are they just shifting the deckchairs on the Titanic and delaying their inevitable collapse?
Some of the speculation about the the options facing Sevco and DCK is I’ll informed.
Sevco trade their way out – They are running at a consistent loss, having shed old high earners to make way for new high earners.
DCK sells up – Who buys shares in a company with capitalisation of £16m Max, debts of £16m min, successive years losses and fixed assets needing £10m plus of remediation?
Dave walks away? Aye right. Not without pressing the nuclear button.
Dave stays and complies – £2m for prospectus and prep, £11m in escrow, £3.96m in BIK payments to SARS (if Barcabhoy is correct), 50% take up from non-three bears shareholders costs £5.5m.
Sell players in January? No Europa league.
One possible salvation is outcome XXX – season ticket renewals in January
Phil this is all a pile of crap you post up on this site
FACT: RANGERS WERE BOUGHT BY A BILLIONAIRE
FACT: DAVE KING HAS A WARCHEST OF £50m
FACT: VAN DIJK WAS NOT SOLD FOR £75m TODAY AND CELTIC WONT GET ANY SELL ON FEE, HAVENT YOU HEARS OF FAKE NEWS!!!!
FACT: WATP
PMSL keep up the good work
HH
That was funny NT. FACT!
It would appear jpjenkins.com is unavailable. It could be a tad difficult to, ahem, trade your Ibrox shares. Though it does say on the parent company, Peterhouse Corporate Finance, web page one of the services JP Jenkins offers is, an exit strategy for shareholders. Seriously, stop laughing at the back, it says that.
Club 1872 should seriously consider a shareholder exit strategy.
In relation to big Virgil’s sell-on windfall for the champions……..
Thankfully having more money in sport is NOT a sporting advantage
APPARENTLY
HH
Myn gran had a saying for those fine folks in the Blue Room….
He’ll slap it into them
Some of these clowns are established business men, so all the questions that surely have to be asked start and finish with ….
Why are we working with this joker again ?
And I’d love to know the answer, I suspect that he must have some heavy duty dirt on all of them…yet again maybe not.
Think u mean “hell”
Just when you think it cannot get any worse for Sevco, We get 10% of 75 million big ones at a time they don’t have 2 coins to rub together !!!
Big Virgil is a class act, he clearly downed tools in August. He is easily one of the best defenders in the world now. He was ONLY one of the best defenders in the UK when we sold him.
HH
Looks like his days at Ibrox are about to an end
‘Developing horror show …’, you’ve moved your final comment up a notch, good, I’m looking forward to battering them on Saturday but having to listen to their sectarian racist bile is painful, hopefully the bhoys score frequently to shut them up before they leave at half-time demoralised, greetin and with another year of pain on its way.
Thanks Phil
Serious corporate governance question:
If King refuses to step aside, do the rest of the Board have the authority, either in RIFC’s bylaws or in common law, to remove King from the Board before the next annual meeting? He was duly elected by shareholders, and I suspect he can cling to his place on the board until the next AGM.
I’m sure they could organise an EGM to remove him, if the board itself are unable to
Simple vote of no confidence.
Given the way he’s supposed to have orchestrated things before, I’m sort of hoping that he’s learned a thing or two about business from the Innocent Man and that the existence of a file of tapes and emails prevents the GASL from being subjected to a fragging.
Depends on what us written in the articles of association. If not stated then it takes shareholders to remove directors. Directors can resign at any time.
Changing chairman is different. That is in the power of the board.
It’d be some outcome if a chief concert party lead made a complete mess of the business, screwed up their plans to make money AND managed to shit on their commercial status at home too.
NOT a horror show for the green side of the city.
I was watching a programme about classic british sitcoms last night, Sevco weren’t on it.
It’s a horror show for Regan & Doncaster as well.
The cold shoulder is becoming an ice age.
Even his fellow directors have given him the cold shoulder.
And with him will go Traynor. Jabba is 65, time for retirement.
Is that stone?
Magic phil , your blog is the best out there for keeping us Justice hungry Tims up to date with the shenanigans going on over at concert party land.
Keep the news a comin partner it makes all of our days happy ones till we see the bulldozers going right up those marble stairs then it will really be ice cream n jelly time ….??
That’s the Ivory Coast flag I believe not the Irish flag ??
Makes no diff in the marching season… “Ivory coast, nah,
it’s just an Aussie Taig’s fleg”
HH
Not just Tims, Mon Eh Ton !
‘to bite him in his country of domicile’ ?
Well;I’ve never heard it called that before.
He will be hounded out of ibrokes in exactly the same way his predecessors were,I cannot wait,in fact I may even buy a ‘news’paper if the headline is a classic.
Much like the one I read on CelticNewsNow yesterday ….
‘rangers 4 ira.’
The scribe obviously has dyslexia of a sort.
Noo that really is a headline worth framing.
Aw The Best In 2018 Phil & Family,Health And Happiness To All @CELTIC FC
Thanks for keeping us updated,? ?????☮️??
Naturally I feel a deep sorrow for all concerned. However, since it’s only a matter of days before the Billy Fullerton Fanclub vocalise their longing to steep their lower legs in a solution of Irish Catholic plasma, I can only wish upon them the Karma that is their birthright!
Look, Phil, I think we need a popcornometer with these posts… is there any way you could indicate at the end of each post how much popcorn you think we should buy?
By the sound of what you are saying, I’m thinking 3 or 4 bags at least. Maybe keep some of the microwave stuff in reserve for those unknown unknowns we hear about.
If they get best tonight and on Saturday, that’s another few bags.
It’s happening again, isn’t it…
I can see the headlines now…
Psychedelic Popcorn Pandemonium Pleases Phaithful @Parkhead.
Club says it’s Jelly and Ice-Cream line is nearing PerPhection and shall be available in 2018,developing dessert…
sevco chuck it after drubbing by Popcorn Phueled Paradise Players,
CFC? insider says all to be revealed in New Popcorn Paradise Papers.
(CFC?TV ONLY)
HNY Bhoys n Ghirls.
WARNING:Popcorn is highly addictive and you should limit your intake,(if you’ve taken more than the recommended dosage,please consult a Popcorn Physician Specialist)especially after Phootballing Lessons @Glasgow Derby
(? 1 Horse race)