I’m told that last week a faithful servant of the clubs that have played at Ibrox was let go.
The lady in question had been at the stadium that John Brown had played for these last 25 years.
My information is that this unexpected de-hiring was explained to her in terms of technological change.
Apparently, the reasoning was that in the age of social media there was no need for her role.
It is true that various regimes at Ibrox have used social media influencers to spin a line.
Although some of it has been of the entirely voluntary and unintentionally hilarious variety.
For the avoidance of doubt, the Sevco High Command still outsources their PR function to an ample advisor in a galaxy far far way.
The idea of the Phantom Overdraft was all his own work.
Unfortunately, this brilliant bit of spin lasted only as long as it took Rugger Guy to read the loan agreement document for me!
I have stated here repeatedly that the choice that faces the chaps in the Blue Room is austerity or insolvency.
However, the annual salary paid to this lady is a drop in the ocean when compared to the monthly earnings of Pedro’s lads who are still the payroll.
However, now that Close Brothers are in the door then cuts have to be made somewhere.
The prospect of defaulting on the £3m secured loan is just too onerous to contemplate.
Although the austerity will undoubtedly impact on the off-field operation it is the player wage bill that has forced the Sevco High Command into the close embrace of their new lenders.
Of course, once the £4m is paid back to Close Brothers then the starting point next season is already difficult.
Think of it as kicking the can down the road while digging the hole even deeper.
Only a sugar daddy or regular Champions League revenue will alter the financial situation at Sevco.
I think that you can see the problems in depending on such a scenario dear reader.
Have a great week out there.
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A very interesting point of note is that after 2018 pre pack arrangements are going to become much more difficult to obtain , therefore it would seem that if this is the route the club playing out of govan are going to go down , ( and we know they have considered this option ) then it is likely that it will happen well before the rule change at the end of the year .
I’m sure the unfortunate lady who was paid off will find more fulfilling employment in a classier and superior workplace and enjoy spending the ‘dundy’ money that the sevco board have no doubt shown their gratitude with. Aye right! HH
James Doleman confirms that he will be tweeting live from tomorrow’s big match in Edinburgh.
Will the BBC, STV or any of the daily rags have anyone covering King’s appeal?
Would be hilarious if King’s brief claims again that his client is skint and as proof put forward the fact that his client is unable to meet his commitment to fund the Ibrox cash shortfall which is now being met by Close Bros.
We rest our case m’lud.
Lol coco is at it again on ibrox noise he now has celtic fans as best mates with Aberdeen .In the clowns latest article he mentions the word progress 2 to 3 times its aimed at his club and not at the duffers who dumped them out of Europe. He then mentions a challenge for the league this season but then goes on to say it was living on hope for his team more than anything else .Ah auld coco the clown never let’s us down with his comedy gold . He goes on about a challenge next season and talks his players up all of them on loan they won’t be here next season but he hasaid them there to take the title of us . Coco where is the dosh that’s hard cash coming from for your team to keep these on loan somebody else’s players at your club .Your team couldn’t even afford to buy docherty from hamilton you got him in on instalments like advert from the telly buy this product in 4 easy payments that’s the level your club are dealing at but everything is good at ibrox as far as coco is concerned.
I mentioned this before but it is worth repeating. When RIFC floated they raised £xm. They used this to buy the assets such as stadium etc for used by RFC, their wholly owned subsidiary. Now documents with Close show that RFC pledged the assets in support of loan. Did RIFC transfer the assets to RFC ? So all risk is with subsidiary? What have RIFC retained, only shares in sub? Story here for someone to unravel.
Did anything come of those unnamed South American clubs from unnamed countries with interest in buying Morelos?
Do you remember, they we going to out bid the Chinese – stop tickling now – no stop – please stop – STTOOPP – FFS what’s the safe word – jabba? – no – fat controller? – no – Evel5? – no – ah yes – bullshit – bullshit – bullshit.
I’ve got to stop this S&M (Saddo Morelosism) – it’s bad for my heart – and my ribs.
The last time Rangers went bust, there was an element of drama, surprise and excitement about it. This time it will be no more dramatic than your very old dog failing to wake from an evening snooze in front of the fire. Anyone with a brain has already prepared themselves, started their greiving process and will accept the inevitable with calm and good grace. Those without brains will no doubt go mental again. C’est la guerre.
Will Dave be jetting in for tomorrow’s CoS panto? Hope Auldheid can provide coverage for this one too.
I don’t know why there is all this talk of Sevco being skint. They have no major debts, are now able to get a 3 million overdraft from a very reputable bank and are so financially secure they were able to refuse a transfer bid of over 9 million pounds for Moreloss. They now have the backbone of the Scotland team playing for them after a very successful transfer window, full support from the SFA, an ex manager managing Scotland and a huge support ready to buy more shares. On top of that, they have a trustworthy owner who can help them out with up to 30 million pounds whenever the money is needed. Based on all that I would say they have a very rosy future and if not favorites this year, must be favorites to win the league next season and start competing seriously in the Champions League. All this information is easily available from the Daily Record, a newspaper we can all say is the number one for sport in Scotland. Tough times ahead for Celtic though. Rogic is desperate to leave, no one wants to buy Dembele and Rogers has lost his touch. If it wasn’t for the Daily Record I would be thinking things were much better than they really are.
Will she get her redundancy money? Or will they try and rip her off? Another creditor maybe?
Weather reports state -10 wind chill from the east going to be some very cold shoulders out there this week chaps keep wrapped up warm.
Here’s a real cracker.
During season 2016/17 75% of players in the EPL were drug tested, thats approx 1,500 samples
A well respected professor, an expert in doping matters, has slammed the numbers and called them unaccetably low
Compare and contrast eith Scotland where a player has more chance of winning the lottery than being tested.
Last figures I saw hardly hit double digits in Scotland.
Well done SFA/SPFL, add that to your long list of failures.
I see Rodgers is one of the names linked to the Arsenal job this morning.
I don’t see Murty’s name in there
One day left in the Chinese transfer window and the Morelos story has mysteriously disappeared from the back pages.
No doubt the journos are waiting till the window closes and spin a story praising Kingco for not having their heads turned by Chinese money further emphasing the financial wellbeing of the club……. but don’t mention Close Bros.
As ever the media is united in a Mafia style omerta around King’s wee TOP problem with 2 days set aside kicking off tomorrow for his appeal against the Court Of Session judgement.
Will we have to rely on James Doleman and others for reporting the facts?
Will the media desist from sending reporters to Edinburgh because of potential travel disruption.
Two days set aside for the hearing, kick off tomorrow morning, much anticipated though without the feedback from 3rd parties our media would rather have us believe it wasn’t happening.
No matter, given that Stewart Robertson and Richard Wilson are unanimous in their opinion that the result of the hearing will have no impact whatsoever on the club, then the fans can sleep easy.
Nico Kranjcar appears to be thinking of retirement.
My advice is, don’t be silly young man, think of your pension.
his contract is up in the summer
I see coco the clown on ibrox noise is putting it out there that murty and Clarke are the best managers in Scotland. He is also shouting for rangers to snap up the hearts goalkeeper in the summer as he won’t cost anything as his contract is up what a surprise another freebie no cash to buy anyone . Now he wants Murphy called up to the Scotland squad and is putting it out there that when rangers get the hearts goalkeeper he should be Scotland number one this guy can certainly come up with the some belting stories I wonder what wonderful stuff coco will have for us tomorrow.
It’s not good for you reading that stuff you know!
The realisation of the poor tea lady who has worked at the stadium that John Brown played for has hit home. You are only a number there when it comes down to the serious questions of finance. 25 years service! Who cares? Ta ta. What was her name again? There will be no more “legends” for the amoebic hordes to admire and talk about in future. The future will be short lived and it’s heading their way. It’s called the end.
Aggie maybe?
Remember when Pirlo took the first spot kick in the shoot-out against the English. Paneked him – it was all over bar the shouting. Scott Browns triumphalism was that moment. The moment everyone in Scotland new who the champions are going to be. With players coming back to fitness and a game a week , watch us go – ten in a row HH
Apparently…. wokking the dog in North Korea…is very popular.
Lol
New…
Edited for racism.
No more of that.
Yellow card.
Well done, we don’t tolerate that behaviour. It’s not a joke, It’s not harmless, it’s demeaning your fellow mans cultural norms. Lets leave that behind us.
Nice work Phil.
One thing that I think hasn’t been highlighted to the extent it should is the ramifications of the Close loan should Sevco enter administraton. As this is a secured loan, Close Bros move to the front of the queue and are in a position to dictate terms of any administration settlement. A pre-pack can’t be counted on, and the Directors over at RIFC need to do everything in their power to get rid of these guys.
Of course, if they were even 1/2 way competent in financial matters, they wouldn’t have needed to obtain this loan in the first place.
I dare say, Administration is going to be a Close call.
Looks like the paranoia of trying to find the source (Govan’s very own Deep Throat) has went into overdrive, ridding themselves of someone who has been their through it all, they must feel they got their man/ woman…
I thought the Beast From The East was Broony. He gets right beasted into sevco every time he faces them!!
It’s always a shame for the people lower down who get impacted by the stupidity of the people running the business. Doesn’t matter if that is football or any other Industry.
indeed Peter. I hope the lady in question TUPE’d her employment to Sevco and will receive a suitable package
I see there’s a petition doing the rounds asking the SFA Compliance Officer how his review of the SFA licencing procedures is progressing.
We are nearly 6 months down the road and with SFA transparency no more than a buzz word what the feck is going on?
Sign the petition by all means but please do as I will in the morning and phone Mr McLellan and just ask him.
Bombard the SFA with calls. What’s the odds you end up speaking to Broadfoot, he of the I AM THE SFA claim or perhaps Alan McRae, the invisible man, whose nose will be out of joint with last nights result.
I would imagine that the report is under lock and key, if indeed it has been completed, and the lack of a leader in place of Regan will be used as an excuse for the delay.
I still wouldn’t be surprised if Mr McGlennan had been ordered to desist from the review as it would only be raking over old coals and therefore a barrier to moving on.
The longer it drags on with no comment from the SFA the more likely it is that the review has been abandoned.
Now where’s that SFA phone number and Mr McGlennans email address?
Jesus wept
A sobering article, Phil.
There will be “collateral damage “.
Those at the bottom of the food chain will feel it most. Just like last time round.
When will those in the blue room realise that they have to run a club called Rangers, or called anything else, for that matter, properly.
Penny has to drop sometime, surely.
Phil, at you know I’ve said a number of time that UK is heading for a massive recession/collapse. Interest rates rises are about to be forced on the UK, the national debt is massive, the public sector finances dire, personal debt at unimaginable levels, large companies going to the wall every week/day at the moment.
Any UK company is not immune from financial reality, any company struggling to raise finance and pay their bills will be in dire straights.
I say, look to the season ticket sales figures. I’d wager they will raise prices 10%+, a foolish move IMHO as sales will drop as their fans realise they are the people….with nae cash.
The 2007 great recession was never fixed, a bit like sevcos financial disaster, the can was kicked down the road, the can is about to fall off a cliff.
The idea of a 10% price hike in season books was floated just the other day on one of the main Sevconite forums.
It went down like an osmium airship index-linked to the US dollar.
I genuinely didnt know that.
I dont see they have any other option tho.
Higher prices and share issue.
Just as the economy is collapsing.
Good luck with that.
This is what they do. They kick the can further down the road.
Off topic, but relevant; it is not up to anyone to prove that there was not a multi-million pound bid for More-losses. Indeed it is up to Sevco to prove that there was. They made the statement, ergo, they need to prove it is correct. We all know that it is shoite. Only in Scotland, with Gullibillys can such nonsense be spouted. You are correct Mr Smith, another recession is coming and it is going to hit hard.
In the spirit of helping my fellow man (even though they are further back in the evolutionary chain), I’d like to take this opportunity to assist those less fortunate by composing a letter on their behalf…
Dear Hassanal Bolkiah,
WATP!
p. s. Can you send us your spare change? If not, we don’t mind putting our hand down the back of your settee, to see if we can find any “luckies”.
Always like the bosses to make the low earners redudant, then award themselves bonuses for doing so …
Not a peep on the GASL in court last week.
Any news on that Phil?
PS: keep up the good work
HH
he is due in court this week-the 28th.
High noon I hope phil.
Ironically the same day the Chinese transfer window closes …..
Great start to the week Phil
I get the feeling if it is austerity that will save them then they have no chance
It is amazing how they always seem to raise some capital at the last moment and continue to survive
I know three are many moving pieces but do you think there could be an insolvency event this season ?
As always thanks again Phil
Next years financials will need a Philadelphia lawyer to unravel them. Will they even get to an audited set of accounts and will they get anyone to sign them off after the blatant lies from the GASL
Weather forecasters says there are cold fronts coming from the East don’t know if it’s from Edinburgh or Russia, she didn’t elaborate
Keep up the good work
HH
Might be from China!
Luv it.
The law of diminishing returns knows no friends, and in the case of Sevco it is purely hostile.
Without external resources ,they will go under,if not today ,then earlier in the season next year.
Phil
What is the latest on the “appeal” to the ToP decision – is the Cold Shoulder likely or imminent?
Phil
You forgot to add that with the onset of the, beast from East weather bombs, the heating bill will be through the faulty roof. The Lord just keeps on. Giving. ❄️❄️❄️❄️❄️??????????????