Today Sevco took another step towards an impressive third-place finish in the SPFL top flight.
Across the city, the men in green and white hoops are now 12 points clear at the top with a game in hand
When Celtic play that outstanding fixture there will be only six matches remaining.
Celtic, of course, will be champions.
That’s just how it is.
I realise that this reality wounds The People.
However, if they didn’t cling to toxic notions of supremacism then perhaps they would be able to come to terms with their place in the scheme of things.
You may recall that just before the last Glasgow derby match on 11th Inst the stenographers were all giddy with excitement.
Their “reasoning” was that if young Master Murts could finally win a match against the man from Antrim then it would be game on.
Oh dear…
Now, the pain of The People is palpable.
However, it is my contention that they have more existential concerns than being permanently in the shadow of Celtic.
A cynic might conclude that Mr David Cunningham King blinked at the 11th hour.
The man who stated in the Court of Session through his legal team that he was “penniless” can apparently now comply with the order of the Take Over Panel.
RIFC-Mandatory-Offer-Announcement March 2018
However, the devil will be in the detail as you follow follow the money.
It has pointed out to me that it is by no means certain that the Take Over Panel will find this off by Mr King to be acceptable.
I spoke with two Square Mile sources today and they both said to me that Tuesday or Wednesday of next week would provide more detail on this matter.
If Mr King’s putative offer was hailed by some as a sign of his grá for the basket of assets I’m told that was not the unanimous view in the Blue Room.
There was one “I told you so” from a senior of the Sevco High Command when the document was published.
I’m told that others in the Blue Room were in something close to a state of consternation about some aspects of the document.
It is worth stating that Mr King never envisaged being in this situation when he took power in the Off Licence Putsch in March 2015.
Mr King is now in danger of being the majority shareholder of RIFC and owning Sevco outright.
If that should come to pass then he will *gasps* make sure that Sevco is run on a self-sustaining basis.
That is because that, finally, it will not be about someone else’s money.
My two Square Mile guys told me that the following words from the document are instructive:
“It is Laird’s intention to work collaboratively with the management and the board of RIFC to review strategic options for the business including, but not limited to, licensing agreements, funding requirements together with management and board composition.”
This was brought to my attention by both my City sources.
They both stated to me that if Mr King does step up next week and has enough takers for his 20p offer then he will make sure that Sevco does not cost HIM any more money.
Once he is the owner of the club and in complete control then an austerity drive would be his top priority.
That would almost certainly mean personnel changes around the boardroom table.
As I have repeatedly stated here since March 2015 that if you prefer your schadenfreude in Sevco flavour then be thankful that Mr King is in the Blue Room.
Finally, when Sevco announced this week that they are now in a commercial partnership with Vaporized I was reminded to never ever again attempt to satirise anything at Ibrox.
Because just reporting the plain facts contains all the hilarity that anyone could ever need.
Third place ?
You’re being optimistic !
The games in hand that the chasers have on them and Sevcos stats against the other 5 teams in top half (especially at IBrokes) might see them only taking points off Hearts and Aberdeen post split. 4-6 points at best even if Aberdeen don’t get their act together…
Sevco could quite likely find themselves in 4th place and even 5th if Kilmarnock keep chasing.
I’d love to see them finish 5th… Put the UEFA qualification issue aside based on position.
4th could be galling if Celtic win a consecutive treble only to gift a Europa slot to Sevco.
King’s rather reluctant offer for RIFC shares is a win-win for the jelly and ice cream industry.
If the offer goes ahead, King will be paying a massive premium to own the biggest chunk of a business that is a cash furnance without a Scooby Doo how to make a profit or succeed at football. Cries of CoS perjury will also be heard for decades before Zadok the Priest ever warms up at Ibrox. Oh and remember, the millions of pounds swirling around the offer inject not a single bent penny into the accounta of RIFC.
If the offer is as sleekit as if first appears, and is a glib attempt to buy time and does not go ahead, then RIFC may well cheat the Take Over Panel by reaching for Admin and Liquidation before the Cold Shoulder is applied. However, King will still be there to banish forever from polite, my-word-is-my-bond financial society.
Either way, there is no happy ending for TheRangers.
Please eat jelly and ice cream responsibly – if the obeseogenic fun stops, stop!
When I first saw the Vaporised balance sheet I immediately looked for the usual (000’s) signage denoting that eg. the £1767 cash at bank figure was actually £1,767,000.
Nope, wasn’t there, so one thousand seven hundred and sixty seven pounds it is.
The partnership announcement has caused a bit of a stir amongst the Bears but in general the reaction is favourable, apart from the green logo needing to be changed, as long as the deal brings significant funds into the club.
Given the balance sheet make your own assumptions with regards to that.
If King had complied with TOP rules the monies coming from South Africa to underwrite the share offer could have been invested in new players, £14m right away for the next manager.
However, as the media has been quick to point out, no one is going to sell their shares at 20p, totally under valuing their worth, therefore the funds will still be available and will give King the opportunity to keep his promise about investing his children’s inheritance.
Still think the Glibster will get out of this. How he does that I have no idea. He will have some plan that allows him to stall and bluster. I’d even suggest he has stalled enough for sevco to pony up for the prospectus with incoming SBs. I believe he was supposed to have made that offer and have a prospectus now so he has not met the ruling imo. The laird thing is more obfuscation.
Could he be waiting on a SARs bail out? They have told him to get his finances and assets back to SA.
If he has to put in some real cash I can guarantee that his goal and focus will be on getting that out with interest as a priority. He must be scunnered that he has had to put his hands in his own pocket for a change. But we will see how he wiggles out of that. Is he related to Tam from Still Game?
I think Dodgy D can get his money back via his real overdraft facility at Club Tropicana, might take a couple of years but he could get them to pitch in for his shares at a rate that makes him a large profit. The tropicana members will be happy that they are getting some more shares and daft enough not to raise any real questions. They could be left with a big chunk of sevco when the big day comes and the lights go out.
Must have been a slow sports news day for the Sunday Mail yesterday.
So in the absence of a story they make some up.
England, apparently have a goalkeeper issue, so step forward Wes Foderingham to solve the problem.
Though he reckons that to be recognised at senior level he needs to be playing CL Group Stages with Rangers!
Dream on with that one Wes.
Then another article where Morelos promises to score against Celtic in the cup semi and dedicate the goal to his family and the fans who will be queing up to get a tatoo to mark the event.
Well Alfie if it’s a goal in another 5-1 defeat the fans will be queing up to have a go at the team rather than visiting a tatoo parlour.
When he goes on to talk about his desire to play in the EPL (look out Alfie they have the same offside rules as up here) he goes on about how close the two leagues are, even down to the fact that the league names are similar.
Wow, well that should make the transition a doddle, similar names!
The Sunday Mail must be up there with the Evening Times when it comes to printing absolute pish about their favourite team.
King lost upwards of £20M at the last debacle ,he came back to get it back , not to invest , not to spend (unless as Phil states with OPM ) .
He wants his £20M ,and that’s it ,why don’t they get it..
HH to the Easter Rebellion.
The EFL wrote to the Accrington Stanley chairman after he claimed he buys all his players a mcdonalds IF they win a match wheareas they buy their own if they lose !!
The EFL claim this is not written into their contracts.
My point being……
I wonder how they feel about years of side contracts
I see it being reported that the Compliance Officer will not be adding any further game time ban for the thug who tried to maim Broonie at the weekend.
Levein must be patting himself on the back as his words encourage further assaults on the Celtic captain.
Of course the CO might have enough on his plate, 7 months into his investigation into the 2012 fraudulent licence application submitted by Oldco and waved through by the SFA.
Has he completed his report and is awaiting the heir to Regan’s crown to pitch up at Mount Florida and catch up with the former CEO’s outstanding business?
What a start for the new boy on the block.
The award of a licence based on a fraudulent application with regards to overdue taxes that one, or more, on the licencing committee were fully aware of.
Where does the new CEO start with that one?
Will he pass the file to Police Scotland so that those responsible can be brought to trial?
Fraud is a very serious offence and those responsible should be sleeping less easy in their beds than they have over the last 6 years.
This is the biggest known fraud in UK football history, justice must be done.
If we end up with anything less than criminal charges being brought against the perpetrators then something is rotten and broken in the system.
The cheats will have won.
Lets not forget those who have covered up the fraud over the years, we know who you are.
For starters anyone who has mouthed a sentence containing the words ‘ the bill had not crystallised’!
In terms of games against the other top 6 teams, I think that sevco have played 10 at home and 5 away so far this season.
Does that mean they get 5 away games after the split?
Thanks Phil,
I particularly enjoyed the wee flourish at the end,
Again Mr.Fear,keep at it and as you correctly remind us often,
‘this won’t go away…….’
YNWA??☮️??
Ah wee coco from ibrox noise not a happy hun today. Having a go at Murty for his after match interview where Murty quoted rangers where scared when Motherwell went forward with the ball .This is wee coco leaving Murty without a name saying he is never a rangers manager for making this statement. But coco when he was winning 6 games in a row against the mighty Fraserburgh Falkirk Ayr and few other duff teams you wanted him tied down on a 3 year contract .This is the guy you had terrifying celtic and our manager and that by the time celtic visit and leave ibrox the gap will be 3 points.You then said that by the following weekend rangers play on Saturday beat killie go joint top and won’t look back all this because Murty was a fantastic manager now you leave the guy without a name .Ah wee coco comedy gold when it comes to loyalty to rangers managers this guy has more faces than big Ben.
King has no intention of paying $11,000,000. His statement was a proposal but not a fact. He is just toying and thinks that he has tricked us into believing that he has complied.
On the question of money, has the Warburton/weir and the Pedro and gang dismissals ever been settled. If so, I must have been unconscious for quite a while. If not, what is the likely cost and have they been factored into “the accounts”. But you know what, it sounds like I’m starting to get mildly interested and I’m most definitely not. As long as we continue to do our talking on the park, they will implode in whatever time it takes. Let’s all enjoy the prolonged suffering. TAL
King may have put it out there that he is going comply with the TOP . I say he is buying himself more time as when push comes to shove he will bolt at the last minute using some health excuse or something else . But will want it to look as good as possible on his side that he was willing to do the best for the club .And then you can have BFDJ jump to King’s defence telling the Bennys and the Sams that King has had to leave due to health or family reasons .No doubt Chris itchy sack Jack will sympathise with King and write some bullshit to keep the klan onside.
Walter failed to pick up the first call? Other sources seem to tell you things that only certain individuals could, like King himself. Other stories where you cite sources are so ridiculous you would need their bogs bugged. We know they’re skint. We know you broke the original story but some of this is pure Walter Mitty material ?
I see all the bennys and Sam dingles that’s all the thickos put together on follow follow loving the how Scott Brown copped a sore one and how he has deserved it for the last few years but angry that it was not one of their players that did it . All loving it and laughing at it saying it was never a red card really . Watch how these fannys spew their bile out the next time broony wins a 50/50 tackle on one of their shitebag players and they all go crying about how he bullies them. And the Bennys and the Sams will spew bile about it you better believe it .
Over a dozen “gift points” or, “stolen points” have made sure that HIBERNIAN are the major losers in the crimes of THE PRIMROSE PLEDGE. All of these phantom points were meant to ensure European football for the Primary One aged team, Sevco. Yesterday, Motherwell were robbed of a stonewall penalty and Bruno Aves escaped a mandatory yellow card as the new guy in the black kept the Blues Brothers ahead of the Edinburgh giants, who are, the most fouled team in Scottish Football. THAT is why Primrose pledged Glasgow Rangers to the Masonic cause in the 1910s nd why Primrose and Billy Bigot Struth hired as many secret keepers as they could find for a lifetime, for they have no “eternity” when they went recruiting in both masonic and orange lodges from 1920.
Kind of blows a hole in the line you have been peddling for months
Oh dear…
I’m confused. Has the Glib and Shameless one physically got to put £11m into an Escrow account to comply with the Takeover Panel. Or can he just say as he has done that the share offer will be funded from the dividend from Laird Holdings.
I see Jamie Murphy is getting talked up as the best thing ever, replacing the £12m man as their new star.
Murphy, like Martin, Goss and Cummings is on loan as Newco was unable to find the money Brighton wanted in the window.
With his transfer value anything between £1.5 and €2m, Brighton won’t be mugged over with the usual deposit and elongated payment plan.
This could be a tricky one, not forgetting that the fee for Docherty hasn’t been paid and will also need to come out of ST monies along with the Close Bros loan.
Sometimes the comedy just writes itself. Happy egg fest.
Declan, gonnae make your mind up. Bad news for us bears cos MrKing will need to leaf Ibrox, but worser news if he stays…get a grip. I posit that you ‘re an imposter and rugger guy is a plastic paddy. When Mr King overinvests at the next IPO, I would posit that Zadoc The Greek music will falter threw our sound system champions league nights as pair Mr Green, our founding fathers proffecy.
I’m surprised that Phil let such racist language through.
Do you count the Sevco fans that left the occupied 6 counties and whose descendants now live in Scotland and no longer have Irish accents as ‘plastic Paddys’ also?
Or is it just the Scoto-Irish Catholics that you are insulting?
Sammy is at the wind up, he’s been on here in various guises over the years. He is taking the rise out Sevconians. Relax and reread his comment.
Unfortunately, before then, your sound system might be in the hands of the Close brothers! Along with your wifi system and car park!
Hi Sammy, I notice that you must have played a lot of truant during your school days. Self taught perhaps?
Can’t make my mind up on favourite bit in this. ‘Zadoc the Greek’ was good, ‘falter through’ even better, ‘proffecy’ amusing but think ‘..leaf Ibrox, but worser’ wins.
“Zadoc the Greek”?
This has to be wind-up.
I blame the schools
Vapourised is merely the next stage from Liquidation 🙂
In the land of the blind ,the squint eyed man is king
Quality
Had a good old laugh at the so called pundits on superscorboard radio snyde. Every week it’s the same old shite it’s the worst performance they have ever seen from a rangers team. BFDJ the leg end Dalziel snottery broken nose beak keevins instead of admitting they the bennys are Turkish delight every week why not grow a pair and tell it as it is .Keevins said they can’t just go and get a manager that’s already employed really was that not the plan with mcinnes from Aberdeen ah the shugster feeding the bennys some more fake news to keep them on board to purchase the pawn tickets oops sorry season tickets .Talking of pawn tickets I hear a rumour that H&T pawnbrokers are the next sponsors of the klan .Could you imagine if they did pawn the stadium I can see King going back to them with the pawn ticket to ask if they could pawn the pawn ticket after all its King we are talking about here nothing ventured nothing gained since he has done more tappin than a blind man’s stick .
u can take that off your page. my grand father was called benny my cousins are called benny one moved to Ireland cork the other from Aussie. and me I am from dalkeith midlothian. I have followed Celtic since I was 5. I am now 60 and still go to the games. every week. as the song said Celtic my heart and my soul. hail hail
“Vaporized”…..HeeHeeHee! But I’ve always been led to believe that shit doesn’t burn!
Got to love it when a goon doesn’t get the craic
Phil, Surely you mean 4th place?
HH
Maybe 5th. Killie are on fire, 10 points behind with a game in hand is a big gap at this stage, but rangers look like they could collapse over the closing stages.
Am sure I’m tempting fate, but doesn’t Lenny have the Hoodoo over the team playing at Ibrox at, er, Ibrox?
Hibs and Aberdeen winning their games in hand will definitely increase pressure on the NewGers “starlets” (c. SMSM) – and they’ve not shown much in the way of handling that type of pressure so far…
With King now ready to steady the ship and put his own cash in if we have to believe that then the klan and the bennys are stuck with Ken Dodd and his diddymen for as the management team for the future . No way is the Chisler going to use his own cash to splash 2 million a year on a 1st class coach /manage like the famous glasgow Celtic . Watch as of next all the positives from media with the quotes again of that famous King had 50 million pounds loose change in his pocket for the new manager to spend as season books need to be sold but who will be wheeled out to front there’s a question . But the bennys will fall for it again as the Chisler will play into their heads about 10 in a row and how it needs to be stopped. Watch for some positive spin by club 1872 they’re magic at being the fall guys and are so easy to get cash from . As for the vaporised deal there is no smoke without fire just ask the guys with the blazers on they might be going out with an old flame .
Dave’s favourite Diddymen? …..
Diddypay and diddyfuck…..
I’ll get ma coat….
Hang on a minute,it was King that was ordered to make the offer.
When he copied the COS into the email sent to the other board members he clearly stated that NOAL would make the offer.
Did the COS tacitly accept NOAL replacing King as the source of the offer?
Now up pops Laird Investments who apparently will underwrite the offer.
So it’s gone from King to NOAL, to LAIRD…….will some other entity step forward next week to replace LAIRD?
It’s a game of pass the parcel. Will TOP and the COS join in the fun?
I must say I find the whole situation regarding the COS alleged position very odd. In a normal situation King, and I mean King would have to provide a full prospectus complete with full and audited accounts so that the shareholders can make an informed decision. This has to be nonsense…..as usual.
Two questions if I may.
Will the other two bears be offered a buy out of their shares or it it only an offer for non concert party member shareholders?
Can they transfer the debt owed to them into shares and cash them in or is the offer to shareholders at the time of the verdict?
If it’s going to turn into the DK show the other bears may be better cutting their losses and running.
It’s an offer for all the shares NOT ALREADY OWNED by the “concert party”.
Now what happens if there is a share for debt issue in the mean time is anyone’s guess but will complicate things somewhat and would probably take the concert party over 50%. I can’t see it happening but then I never thought King or one of his many trusts would front up either. Mind we don’t yet have an official offer yet so this could be a simple desperate bid for time to do something else.
What a day to be a tim
Happy Easter all and HH
Oh dear, more of those pesky unaudited accounts without a balance sheet, therefore totally worthless.
Remember how last year’s €300 k profit reported in the interims turned into an audited £6m loss at the year end?
Now the starting point is a £1.2m unaudited loss and with payroll through the roof the full year end audited loss will be north of last year’s.
Soft loan repayments? …. Aye right.
With the Close Bros loan repayment and Docherty’s transfer fee coming straight out of ST money, that’s a £4m hole straight away.
Martin, Goss,Murphy and Cummings will all be going back to their clubs as there will be no money for transfer fees.
The offer is conditional upon Laird accruing 50% or more of the issued shares. The offer limits distribution, and possible acceptance by those who reside in certain geographical locations. Depending upon where the 10%+ of disenfranchised shareholders reside, could this be a means of not including them in the offer? If so, even if it is in part, could the offer from Laird be declared nullified? The other shareholders could, in my opinion, be heavily lent on to retain their shares, possibly with the promise of a significant dividend at some future time. Does anyone else read the statement in that way, or am I mistaken?
They will be Fuming.. HH
It might just be a big smoke screen. HH
The man who could be King is blowing smoke up the benny’s erses. There aren’t enough padded cells or “hugging” jackets for them when they waken up and realise they are not the peepul. They have been under the illusion that they are supreme beings and that Rangers are still going for 55. Mental Health Services will be swamped soon so my money will be traded for some nice pharmaceutical shares. Diazepam and Prozac…..sevco’s new sponsors. HH
I can assure you that Mr King is not blowing smoke up anybody’s arse – he will, of course, be vaping up their arse, hence this new sponsorship. What better way to endorse a sponsor’s product than to have someone in high office put it to best use to as wide an audience as possible? I mean, they have millions of fans worldwide that would be only too happy to come to the financial rescue of their beloved club/company/vehicle thingy – don’t they? ?
Phil, my reading of your italicised paragraph was that DK now sees himself as a 1990s style SDM and the opportunity of “Onerous Contacts” is now his for the taking !
Contracts ! Dammit !
I think you were probably right, first time.
Think you were right the 1st time Al. ….I’d say the man himself is a very “Onerous CONTACT”!!
If King Dave somehow managed complete Sevco control, I’d imagine some major asset stripping — got to recoup the kruggerands! — would follow.
I look forward to the relevant authorities confirming that ‘yes, Dave’s actions are in full compliance with the court order obtained by the Takeover Panel. Meanwhile, (and if I may…) I would like to point out that Sevco are not the only ones with a new commercial partnership…
https://theclumpany.wordpress.com/2018/03/31/an-exciting-commercial-partnership/
Will vapo rub have to alter their corporate livery to a palette more concomitant with the staunchness of the club deck?
I think we need to clear the air.
I love the phrase “board composition” or should that really mean…. don’t let your erse hit the door on the way oot pal ! Tight arse, glib and shameless liar is now a man of patience and prudence for success.
My favourite was the Blue Nose on twitter that didn’t understand we were taking the p%ss out of Vaporized as a word relating to liquidation. He kept banging on about the fact we did a similar deal 4 or 5 years ago. The poor man just didn’t get the joke we were laughing at!
And just like that he was gone like a mist of vapour
??????????