As I had previously reported the Sevco High Command had high hopes for two potential investors.
These chaps are well-off individuals with a strong emotional connection to the Ibrox brand.
Given that a major source of Blue Room funding has been Parked then this is just what the Johannesburg doctor ordered.
However, it is my sad duty to relate that, at the time of writing, both of these fellows have eschewed the opportunity to invest in the basket of assets.
The first chap was gentle enough in his refusal.
It was very much along the lines of “I’m not investing right now, but you never know. I might re-consider in the future”, that kinda thing.
He sounds nice.
The second potential investor was much more forthright.
He stated bluntly that what had been presented to him by the Sevco high Command did not square with the reality of them having to go to Close Brothers.
With these two potential investors off the table then the only hope left is The People.
Therefore, expect the love-bombing of the Sevco customer base to be stepped up in the coming months.
Fortunately for the Sevco High Command, they have influential fans onside.
Of course, these prominent supporters have a proven track record in advocating for all manner of dignified saviours at Ibrox.
Moreover, the chaps in the Blue Room can also count on a local media that doesn’t subject them to journalistic scrutiny.
As we witnessed in 2012 there is only one way that this movie ends.
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Yet another fuck up by the SFA regarding the fixtures and guess what team has has already benefited from this fuck up and who will benefit AGAIN after the split?
You guessed it….Sevco! !
A floating charge
Stadium Catering Outlets
Stadium PA System
Stadium bowl screens
Stadium Wifi
Albion Car Park
Edmiston House
Only in Scotland could the governing bodies design a premier leagure system with glaring in-build unfairness. Unfairness that is likely to be applied with their usual discretion to benefit their favourites. Football isn’t a sport in Scotland, it’s an extension of lodge ritual – ruined by a bunch of immigrants – they regard as disgusting – who run a highly effective football business – year in year out.
Education, dilligence and honesty will always embarrass lazy, nepoitstic, incestuous corruption in the long run. It’s called Darwinian evolution.
It’s beautifully ironic that to survive, let alone prosper, the SFA and SPFL need is to learn from the practises of business excellence that Celtic have employed so successfully – but admitting that would burn them up from the inside – so instead – they prefer to stick to the culture than got them and their favourite club into the shit they are in today.
Exquisite!
Today, I’ll mostly be singing “Corruption!” by Iggy Pop
When cash is so short at Ibrox, one can’t help thinking about where is the global merchandise operation now that Big Mike has been put in his box by King. Surely that would generate mountains of cash to silence the nay sayers.
So, why are the SMSM encouraging the fans to donate their beer money via Club1690 rather than spending much, much more on the latest replica kit for themselves and their kids and that slinky xxxl Broxi lingerie for the wife and girlfriend [apologies if that imagery spoils your meals for the rest of the day]
Who is the new merchandise partner with the logistical clout to source and sell millions of items workdwiide ?
Where is the marketing campaign to harvest the 2017/2018 season revenue, before starting again in the summer with new 2018/2019 desiigns ?
The answers I suspect are a combination of:
a) Ashley may not be entirely without influence – and bears a grudge
b) No other sports firm is interested in doing business with a small, unstable, arsey club known for a reluctance to espect contracts
c) The board are inexperieinced, unrealistic, arrogant, entitled and are making no progres with the project.
d) It’s not a priority – let’s get to ST time first and then work it out – if we’re still here
e) Candidate merchandise partners have experience of football clubs going bust, leaving them with ISO containers full of worthless tat. Maybe Rangers have all the wrong signs to the expert eye. Too big to fail? No problem, let’s talk more next season.
Handsome is as handsome does – and this is looking uuugly.
Disclaimer: some or all of the above may be different from what a glib and shameless liar and his apostles have led you to believe.
Phil,
If it does eventually go tits up, who benefits the most?
Is it the GASL or Close Brothers?
Surely with Sevco being such a global brand, there must be a whole raft of foreign investors desperate to invest in the basket of assets.
After all they’re on such a solid financial footing they can laugh in the face of ridiculously low ball offers on Morales from a Chinese club whose international player quota is full. Maybe Beijing Renhe were not trying to buy More or less, but the whole basket of assets.
So the £11m offer all makes sense now….
Sevco already tried to ‘harvest’ their global support a year back…
Rumour is that they got 10 replies…
doo about ? nothing
Phil I’m sure in their last accounts it said they had to find £12m+ this summer for past transfer fees. Can you confirm .
£7.2m required.
NOAL said they would provide it.
The accounts indeed said £7.2m, but that assumed all kinds of fantasy revenue. So £12m-£15m is a far more reasonable estimate of the actual cash crisis.
Just heard government to freeze interest charges on debt if you can prove mental illness
That’s that “ loan facility “ sorted. Sevco
Not easy to find an exact answer, but in the section called player registration payables there were £3.4M expressed as current liabilities ( I think due within one year) and £4.4M as “non-current” liabilities, i.e. due after 31st June 2018
They didn’t appear to have much due to them which isn’t surprising as they seem to demand immediate and full payment for any player sold, but defer any payments for players bought…. It will eventually catch up with them.
Celtic make 8 changes against St Johnstone, get a draw and gain a point. C’est la vie. Let deadco try that and they will gain nothing. One or two injuries and they will drop down the table like a stone. Have faith bhoys and ghirls. Celtic will pull away from the pack as they always do when the going gets tough.
Where are we getting this word invest from,surely invest means that you have a chance of making money on your investment.
I could be wrong but,can somebody explain how this is possible on this so called investment?
Why don’t we just call this Sevco charity appeal.
One cannot be too surprised- any businessman with an ounce of sense would have taken one look at their accounts and their, ahem, “business plan” built on pie in the sky dreams of European competition money and ran in the opposite direction! Not to mention their loan deal with Close Asset Finance, (moneylenders with offices) their inability to secure a line of credit from any reputable bank including the bank they have had since they started up in 2012; their inability to put down any immediate funds when trying to ‘buy’ players, the loans owed to current directors, the marked absence of the funds promised by Mr King to get their accounts to pass muster, the impending legal issues of said Mr King with the very real threat of the Cold Shoulder on the horizon! Sure, with all these points isn’t it strange that they haven’t got investors beating down their doors?? What’s even stranger is how they manage to limp on -the Unseen white gloved hand?
Missed this when posted.
Phil IF they are relying on the good will of the peepell,well,to put it in industrial language; …THEY’RE FUQQT.
They don’t have any good will,well,I’ve never seen proof of it.
And I sincerely hope that the last line is prophetic in nature.
Thanx Phil.????
If only I had a spare £1
Noo yer ripin the piss. You couldnae possibly buy them for less than £1.50 !!!
Thanks Phil.
A fool thinks himself to be wise but a wise man knows himself to be a fool.
Gullibillies take note.
Thought not.
Thanks Shakey.
What’s that old saying? Fools rush in where wise men fear to tread. Or something like that.
As soon as I seen the Hoops team line-up today I had the feeling that we would struggle.
9 points the gap yet this time last season it was 27
The sheep are still very inconsistent so it must be Sevco that have got much better,
I don’t like it……………………………
We went into the weekend 8 points clear, dropped 2 points and came out of the weekend 9 points clear. I have heard at least a dozen times on the radio, 5live and Radio Scotland, that Celtic’s lead has been CUT to 9 points. If I was an Aberdeen supporter or player I would be furious that my club was being completely ignored.
When can we expect that cold shoulder to be delivered? I am really looking forward to the knockout blow happening and then the improved deals that they are keen on broadcasting being swiped from the canvas.
How many of the world class loans will they actually buy in the summer—— I suggest the answer will be between 0 and 1.
I can’t work it out why a company like Close Brothers would step up with a £3 million loan to a financially distressed business. Also the same for the bean counters at “deadco ” to go cap in hand to a lender of last resort. Any drop in SB’s and one or two defaults on the terms of the loan, then the padlocks will be fitted to the gates of Castle Greyskull. The pressure on Stewart Robertson must be unbearable.
I guess Close Brothers think they can get a handsome profit on a short term loan with guaranteed income from the season tickets. Their terms are stringent enough that Sevco would repay the loan regardless of the difficulties that would provide to cashflow.
Sevco would have taken the loan because without it, the doors would have closed or be about to close at the end of the month. There was no cash to pay the wages. Better for them to borrow against the future than not have a future at all.
The difficulty would come if the enterprise does collapse just after selling a load of season tickets – some people might think that was trading while insolvent.
Had to laugh at the rangers fans on follow follow rumour has it that they could well have a new manager in summer in the form of a world cup winning manager in Roberto martinez they all seem quite positive about this .So a world cup winning manager will refuse to join one of the top 10 clubs in the world with massive transfer money available to him to take the rangers managers post to get by on money from the chuckle brothers and wonga loans as well as having to pay his own plane ticket when flying out the country . The bennys are just comedy gold .
An increasing number of Scottish clubs are taking points off Celtic em… I think we could have a problem here?
The refs have stepped up their game ?
Just off topic, has anyone been able to verify this wonderful £11m bid for sevcos amazing striker? mmm.
With Morelos, Tavs and Wideass, it is as good as money in the bank Phil.
Any successful businessmen would take one look at all the smoke and mirrors and see right through it.
Any “investment” would be going straight into Close bros. accounts, nothing towards the team, stadium, electricity bills,police Scotland etc. Then again why look to millionaires with an emotional attachment when they have Morelos £10m +, Tavernier £6m and Windass £5m , according to the twitter gullibillies.
That poor wee bear in the last picture! I almost feel sorry for them!
But not quite.
Rumour has it Elvis and Roy Orbison will attend forthcoming signing of Alfie at Disneyland . All those attending will have an audience with The Lying King and Goldilocks and the 20 thousand Bears.
james61 , they have already said some money from “charity“ game is going to the separate youth development company which even if it`s a registered charity makes this incestuous enough for the Scottish charities commission to take an active interest in another charity game and where the money goes . the “people “ have previous
Cheers
HH
Chris ‘union’ Jack has had me banned from the Times posts four times….telling them the uncomfortable truth is not allowed.
Im back in another guise though l wonder for how long.
Keep it up Phil.
I found myself banned after simply stating the case for why company law meant that the continuation myth was bogus. It’s nice to live in a covertly semi-fascist state.
The ET have had a cull of anyone not toing the continuation line, or mocking Chris Jack or Newco.
That leaves them with just the audience they want, gullibles who will lap up anything printed about their club.
Phil, Any rich RRM with any sense will be looking at Celtic and thinking…Hmm, £30 million of a head start every year. One, maybe two mistakes and we’re in, but then they’ll be thinking, Desmond and O’Brien, and if required, the rest of the Coolmore mafia…hmm, No thanks.
I mean there’s rich and then there’s Rich beyond your wildest dreams.
The two wealthy rrm, just how much combined wealth do they have.?
Two bob and a half empty bottle of Buckie.
The gullibillies say it’s a half full bottle of Buckie. Well they would, wouldn’t they. HH
The lights may still be on but there’s no one at home.
I sincerely hope that all the animals were hurt ( not in a physical way you understand) in the production of this excellent blog.
It is very difficult to comprehend that two wealthy supporters of the NEW club should even consider investing money in a bucket with no bottom.
There’s a hole in your bucket dear GASL, dear GASL,
There’s a hole in your bucket, dear GASL a hole.
Then fill it with OP money, OP money , OP money
Well you get the drift.
The SS Ibrokes like the old Clyde puffer the Vital Spark shall limp on regardless. Rusted from stern to bow, holed below the watr line,and having its engine room subsidiary manned by incompetents, it will find ways to keep £5 worth of diesel in the tank. Not for them the scourge of an ungodly profit by golly.
Every turn of the rudder takes them nearer and nearer to the breakers yard, and yet,no matter how desperate their situation they shall console themselves with comforting thoughts that” They are the People” .
Now we are at the stage of selling off parts of the good ship to keep the rest afloat. You soon run out of ship when you do that. Charity matches,fan donations,Directors loans,all required to buy pollyfilla to plug the holes. It is no longer a matter of IF, it is simply a matter of WHEN.
Sorry to be persnickety, but is that hole below the water line or holed below the Walter line……..
Karma, you have to love it
Would’ve thought yon former player Gordon Ramsay would dip into his millions to save his club. Maybe his 3 Michelin stars could replace the tainted ones that Sevco wear.
Surely Gordon could spare a crust or two mmm
Bloody hell, I dribbled my coffee. Lol
I would suggest they buy his history and thus turn the 5 stars in to 8.
Absolutely love the bear photo!!!
Simply depressed!!!!
I don’t think this will matter too much in the grand-scheming of things. Morelos is wanted so badly by the Chinese club that they have decided to break with tradition and are continuing to work during Chinese New year. This must mean that they really, really want him… I’m sure we will have an explanation for this in the press soon.
Your talking balderdash Phil. Mark Guidi is assuring the people that big things are going to happen at Ibrox in the near future. I for one believe every word he says, after all, he is a respected journalist and you are just an Irish based blogger.
There’s a whole list of ‘big’ things that could be happening soon at Ibrox starting with Tesco Extra, housing developments or hotels to name but a few.
I would suggest that proper ground surveys are carried out as the toxicity levels must be off the meter as it’s always steeped in Fenian blood, Level 5 pish and the unnatural detritus given off by the ugly zombies. Big things……aye right! HH
Sunshine get a grip of yourself and get with reality. Your Club is up to its in hock and is now in debt to the money lenders and when the payments become due and there is no cash in the biscuit ? tin and Close decides to Forclose and padlocks Ibrox.
Anyone who pumps money into your lot definitely needs to be mentally assessed.
Celtic don’t need “rangers” but “rangers” now need Celtic for to make “rangers” somewhat relevant to Scottish Football ⚽.
Mon the HOOPS
it was Mr Guidi’s bestest Sevco contact that had been dropping these hints regarding something “big” happening around summer time at Ibrox.
I believe that…”there was a spring in the step” of the folks at Ibrox.
Might they be somewhat flat footed in the days and weeks ahead?
I’m sure that Mr Guidi will have no hesitation in updating us as to the progress of this “developing situation” in the run up to summer.
It’ll get more toxic by the day.
The smsm have already been quietly giving them free adverts.
A couple of weeks back Chris Union Jack ran a piece imploring sevco supporters to invest a fiver in club 1872 “for the price of a couple of pints you would be helping your club”
There’s a charity match coming up soon it’ll be interesting to see where that money will go.
Keep up the good work.
HH
For Sevco, charity always begins (and ends) at home.
Unfortunately though, the lights are still on at the Biggotdome
With any bit of luck Fred not for much longer. I believe it would make a great site for Aldi or Lydl but it might be thought of as a security risk so they may opt for somewhere in Iran or Israel as they may not be as sectarian over there. H H
If these 2 brogue loving brethren won’t help save them, they are already fecked. The impending cold shoulder will simply be applying the coup de gras!