One thing that any distressed company tries to avoid is the truth getting out there.
Back in the summer of 2011, a business journalist told me that my coverage of the Whyte regime was killing them.
My colleague said that my scoop of the Sheriff Officers entering Ibrox would shatter the confidence of their suppliers etc.
Consequently, many of them might be moved to demand money up front for goods and services.
With Sevco it is a very similar movie.
When the Lloyds chaps left the Big House in May 2011 Rangers (1872) was a loss-making business without a credit line from a bank.
Mr Whyte had paid them with the money that he had bought from Ticketus.
Sevco is also a loss-making business with no credit facilities from a bank.
They do have a secured loan from Close Brothers.
This was fed to the Stenography Corps as an overdraft.
As with the press release that described Mr Craig Whyte as a “billionaire” they obediently regurgitated it.
At the moment as dignified squirrels circle overhead at Ibrox, it is vital to follow follow the money.
Tonight I learned of some intense negotiations that took place three weeks ago.
An impeccable source has informed me that a senior member of the Hamilton Accies regime was spooked to learn of an arrestment order at Sevco.
This prompted the New Douglas Park outfit to approach the six-year-old club.
They were concerned that the basket of assets might have trouble paying the tranche that is due in the summer for Greg Docherty.
I’m told that the sum is £350k.
Apparently, Sevco offered the Accies £200k.
After some negotiating the sum of £275k was agreed and duly handed over.
I understand that the balance will be paid in the summer.
My information is that it was the Serious Professional who handled the Sevco side of the horse trading.
This vignette is worth reporting in that it shows what is happening behind the Quintessentially British facade.
As I have previously reported there are several Sevco suppliers who are now becoming increasingly concerned about late payment.
Of course, if any of the details in this report are in anyway inaccurate then I will be happy to print a correction.
However, that would require the Sevco Press Office getting in touch.
They tend not to do that when your humble correspondent contacts them with forensically precise questions.
Despite the fact that my emails have this attached.
Finally, spare a thought for the Stenography Corps as they’re at the Press Awards tonight.
The playwright in me wants to take that annual dignity fest onto the stage.
For the avoidance of doubt, it would be a farce…
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Thanks Mr.Fear,
I’m only just catching up been ill with a chest infection that is showing more strength and determination than the whole tribute act did on Sunday.
However,I’ve plenty of past experience at hopefully getting shot of it before it truly gets hold of me.Time will tell
That is the first time I’ve laughed in days.
And there is NO better medicine?
I’m relishing the rest that I’ve yet to read.THANKS for your solid,dogged and down right Superman like will.HH?
Let’s imagine for ne moment that StevieG is daft enough and poorly advised enough to take the The Rangers gig.
He’ll find out PDQ that “financial assurances” are not the same in G51 as in the rest of football. So he will be left to beg, borrow and steal freebies based on his reputation as a player. That it what King aims to exploit. Yes EXPLOIT StevieG – like he exploits everyone else. StevieG will then be in at the deep end and if he swims a world record 200 metres medley time he will be a hero. More likely, he’ll do a decent to half decent job for a first time manager with a rag, tag and bobtail squad – and he’ll get crucified for not doing miracles – at which time his eductaion will become an issue. But The Glib One will have fed the debt furnace at Ibrox for another half season – but to what end – what is the strategy for staying alive to see 10 IAR Dave?
Big decision time StevieG – do you trust a serial criminal and documented glib and shameless liar with your career and reputation?
Here is the rangers comedy gold team for sunday in goal Russ Abbot a back 4 of Frank Spencer Little&Large and Frank Carson 4 in midfield of Groucho Chico Harpo and Zeppo 2 up front Francie &Josie and managed once again by Ken Dodd &Diddymen.
Rather appropriately, most of whom are deceased.
Has his Royal Glibness managed to make the deadline set by the court and Takeover Panel yet Phil?
The whole Docherty to Rangers transfer stinks.
If Accies go down after gifting their player to Rangers the future of the club will be in question.
The Park family should have some difficult questions to answer.
Gerrard went to st Michael Catholic primary school, then Cardinal Heenan Catholic high school if he’s not Catholic then what!?
I went to two Catholic schools and I’m atheist, as were both my parents. The schools in question were the best in the area, that’s the only reason. I’m sure I read a quote from Slippery G where he said his dad sent him to that school because it was the best for football. They weren’t practising Catholics, though I doubt the huns will remember that if he takes the job and fails.
SH was also married in the Roman Catholic rite. I’m sure calling his daughter Lourdes was coincidence. Or was she named that in order to balance the other three kids – Sash, Boyne and Lambeth ?
Predictive text screwed that jokes! Should have said “Lambeg”. Oh well.
His Daughter is called Lourdes Gerrard !!!!!. Maybe she can do a few miracles at IOUbrokes.
Stevie G is a Roman Catholic. Also married his dear wife in the Catholic church. Sorted.
Wish you were at the press awards, if only to report on the hilarity.
Good work as usual Phil , whats the word on the kiddy on Stevie G bid
So wee Coco at it again with his mad prediction that trouble will start because we can win the title in our own stadium and to celebrate this with the Klan being present is just not good enough .Do you know what Coco don’t go then .But how DENSE is this clown so whoever wins the league it’s not to be against the huns because they can’t deal with or handle the celebrations talk about bad losers thats quite a good name for group or a band Bad Losers where are they playing at the bigot dome .And so wee Coco shouting his mouth off about getting Stevie G another youth coach the same Murty but will be welcomed by the bigots until it goes tits up and they will hit Gerrard with all of their bile about him being a Roman Catholic a fenion and anything else they through at him .But hey they are living the dream of stopping us doing 10 in a row and season books are needed to be sold so roll up all you Bennys and part with your cash .I also saw wee quark from Deep Space 9 stuntman for Alex Rae on tv putting some spin on the fake news classic stuff .And also the guy with a head like a weetabix none other than Archie McPhersons love child Alex EBT himself McCleish with his spin on it as well.
Gerrard is not a Catholic
Aye he is-
“Born in Whiston, Merseyside, Gerrard started out playing for hometown team Whiston Juniors, where he was noticed by Liverpool scouts. He joined the Liverpool Academy at age nine.
Raised Catholic, he attended St Michael’s Primary School and Cardinal Heenan Catholic High School.”
Both Stephen Gerrard and his wife are practicing Catholics.
They were married in a Catholic ceremony. They have four children together, one of whom is called Lourdes.
All this info is included in his wiki page, with references to source material given.
This “not a Catholic” stuff is being made up by the boche, such that their extremely fragile culture and cobbled-together identity can stagger on if Gerrard is appointed manager (which I do not think will happen anyway).
A comment which caught my eye on one of the sevco forums just yesterday, regarding Gerrard, was “just being a Catholic alone doesn’t make you a taig”.
Who would have guessed their prejudice had such nuance?
Sorry tae bust yet baloon,but he is not just a Catholic, but a practising one.
Not that it matters in England, but in this sectarian cesspit, sadly it does.
He’ll mend him.
Yes check with Wikipedia he attended catholic school all through his eductaion
have a look on wikipedia.
“Raised catholic..,”
“Gerrard is a practicing Roman Catholic”
Not that it matters in this day and age. He went to Cardinal Heenan High School and his daughter is called Lourdes. I’d say that’s pretty good tim credentials. Mentioning Cardinals reminds me of the time a couple of years ago at a cup final at Hampden when Willie Collum was the referee. The gentleman beside me, a fellow Celtic fan, spent most of the game in a foul mouth bigoted rant at him calling him all sorts of epithets. Eventually I just had to tell him Collum’s day job was a principal teacher of RE in Cardinal Newman High and point out to him you had to be a pretty good tim to get that job!
Totally get that but my thoughts on this are I have always known Collins background and I believe this in his and our endeavour for fairness he overcompensates on decisions when we play them however when those who referee and have the dark side in their heart cannot stop themselves from giving decisions against us and for them here lies a dilemma also don’t think he is a good referee IMO
Are you sure about that? Seem to recall he attended a Catholic school (Cardinal Heenan) and was married in a catholic ceremony and named one of his kids Lourdes?
Bad Losers playing at The Bigot Dome… love it 🙂
There are 2 Opposed Motion Hearings – Orlit Enterprises v The Rangers Football Club Ltd- on the Glasgow Sheriff Court roll for tomorrow. Any more details on that Phil?
Cheers.
The Orlit case goes back t the Charlie Green days.
I reported on it at the time.
It is regarding the finder’s fee for the seedcorn money to set up the club in 2012.
It looks like the case against Charles Green for signing some poor value contracts is due in court shortly. Now if I was Green’s lawyer, I would be demanding that Rangers reveal exactly what Hummel are paying them for the new deal, and comparing that with what Puma paid. After all if the new management hasn’t negotiated a deal worth substantially more then that would kick a quite nasty hole in their case. It’ll be interesting to see if the case actually goes ahead, and if they want that particular money trail to be brought in to the light.
I take it that between 20 and 30 million pounds will not be made available to Gerrard for new players then
It begs the question, which creditor(s) got stiffed so that Hamilton Accies got paid?
Well done again Phil , always on the ball. Stevie G take note. Roll on hun skelping Sunday.H.H.