Over the weekend my email inbox was full of “information” about the impending announcement apropos new funding at Sevco.
Most of it sounded as fanciful as the bid for Señor Alfredo José Morelos Aviléz from an unknown galaxy.
Today the big news was announced to some handpicked media chaps.
£6m and no external investment.
Regular readers here will not be surprised that an internal whip-round of the “co-investors” (the fans) is all that is possible.
I have written here that Mr Gerrard would need to pay attention to anything promised him by Mr King.
The £6m figure is, of course, best case scenario if the issue is not underwritten.
Unless you have a top class scouting system (Sevco do not) then £6m will not go very far in the transfer market.
Moreover, Celtic could generate that sum by selling, say, two fringe players from an already strong squad.
Then there is the small matter of the secured loan from Close Brothers.
Those chaps are due £4m to be re-paid before February next year.
I really do hope that Mr Gerrard starts to pay attention.
If he is in any doubt as to the desperate nature of his situation in Glasgow then there is someone nearby who he can call on.
All of that hype for, potentially, £6m.
That’s what Mr Gerrard has to take on Celtic and the man who schooled him.
Developing embarrassment…
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Which site was that?
I contacted Ladbrokes last week and they weren’t offering any odds.
DB
King stated that he felt the TOP were acting like bullies in giving him little or no time to”set up a bank account in the UK” .
surely a quick transfer of funds into his Ben Nevis account (where he moved R200m from the SA Tax Authorities money) would take no time at all?
is Steve Austen dead, the six million dollar man got out of a few tight situations lol, comedy character being repeated by comedy gold our dear sevco simply the best lol
In a stunning move by DK, several of the more intellectual and wealthy sevco fans have been approached with a “once in a lifetime” investment opportunity. He has quietly let it be known to this exclusive circle, that he can, for the unbelievably low price of £1m, and for a limited time only, obtain a small bag of Mousa Dumbele’s toenail clippings. He assures them, that when properly spaced and planted at the right depth in a sunny position, they will each grow over a period of two decades, a brand new Mousa. These Mousa’s can be sold for upwards of £20m each, plus inflation obviously, thus ensuring the financial stability of sevco FOREVER. He is looking for twenty investors to put in £50,000 each. They have been assured that their original investment will be returned tenfold. However, as I said at the start, DK did approach the more intellectual of the sevco fan base therefore he has encountered a certain level of scepticism and finds himself FIVE investors short.
Be afraid, be very afraid,
Stevie G has a whole…sorry… part of 6M to spend on the cream of world fitba.
I laughed out loud when I heard of the ‘fortune’ he may get to spend.
I’ll give him ’til Christmas….
Oh dear, the World’s most gullible fans have already spent DavieG’s six million quid share offer money several times over on new players without even considering their contract, wages, bonuses, agents fees etc.
These must surely be the world’s most innumerate fans – Wonga-fodder – just like their club!
P.s. Who exactly is going to buy 24 million shares at over five times their actual value?
Gerrard is about to be made to look a fool in full view of a UK national audience.
When I saw the figure of £6m fresh cash I thought a zero had been missed off in error.
Presumably Stevie G will also have the £15m Morelos transfer fee, £5m for Tavernier, £5m for Windass and £3m for Foderingham to play with.
Do we know who Level 5 chose as their selected journos to worship at the feet of King?
I’m puzzled. “£6 million new cash in the balance converted to loans.” Does this mean that some of the existing loans will be converted to some of the new shares? Just re-read the blurb. That seems to be exactly what it means. Okay let’s assume a 50/50 split between sold shares and converted loans. We’re then talking £3m in extra cash for a company presently running at a £6-7m annual loss. This IS INDEED GOOD NEWS for them. It means that they’ll only have to raise another £3-4 m to get them through next season…….plus obviously the £4m for Close Bros. The easy way for them to raise that £7-8m deficit would be to have ANOTHER share issue. WOULDN’T IT!!!
Oh aye while I’m here, “……we continue to run at a deficit, deliberately…..”, I thought that to deliberately run a business at a loss was illegal.
Not quite. He also says that the losses will always be met by loans. As long as current commitments can be met then it’s legal.
Crazily unsustainable, though. It’s predicated on getting back to European money. What if the horizon for that keeps moving further away?
Phil, what do you mean no scouting system, they have Richard Gough scouring USA for the best talent and John Brown, world class scouting by real rangers men ???
Long live the King ,as long as he is there ,its not a no brainer ,its a no contest.
Said it right from the start ,he lost £20M the first time around and he has come back for it. All the sideshows and detritus in the wake off him ploughing through to making it happen is the root source of our Jelly and Ice cream , I think his end game is approaching one way or another ,then again maybe not. Its as funny as fk in the meantime. Be lucky
I have just read that Dave King was asked to put funds in a UK bank account rather than one in South Africa.
He agreed to do this but asked for the time frame for compliance to be extended. This request was denied.
Dave King has been treaded deplorably in this instance. Do the TOP not realise how difficult it is for a convicted fraudster to open a bank account?
Also as part of his deal to avoid jail he promised to keep all his investments in South Africa. Surely the TOP must realise the difficulty in moving £11M out of a country whilst apparently not moving it out of the country.
Come on guys cut the glib and shameless one a bit of slack. Give him a day or two longer to not fulfill his promises
Show me an insolvency practitioner who doesn’t just love a “deliberate“ deficit…
Gerrard’s onto a winner!! Promised a pot of money to do the job, if it’s over £6 000 000 he was told was available and they want to get rid of him…he’s laughing all the way to the bank. Broken promises from a GaSL.
‘Gerrard knows it’s about selling moonbeams’ – Davy Glib
So, a club that is over £40m in debt is about to raise £6m (at best) and that is going to bridge the gap? Have I got that right? Surely not
King is creaming the huns the same way he creamed the town councils down in Natal just after Apartheid officially ended 1994….The new regime didn’t have a clue how to run things and Glibby saw the gap and approached them with the offer to “manage” their councils….him and his side kick greig morris (who worked for one of the councils) screwed them all big time with doctored tenders etc…He was the only member of the elite River Club Golf Club in Sandton ,Joburg who was expelled due to his obtaining money from fellow members through false pretences.
I’ll sleep better the night
Was getting worried ….. no need
You might be able to sleep Stevie Mac but I’ll still be awake laughing! HH
6m is roughly what we got for big Virgil sell on to Liverpool??
Given the fact that those of The Peepul who don’t still live in 1690 are stuck in the “glory” days of the 1990s then £6million probably sounds like a massive budget to them
Jeez…
That’s like Peter Lawell having a presser to say he stuck his hand down the back of the sofa while he was round Dermot’s house and found a Ntcham voucher!
If I didn’t detest them so much I might feel sorry.
I also think there will be a mutual nulling of contracts regarding Mr G, assuming anything has even been signed. They do love a good record though. First club to employ and sack a manager before he’s started.
Maybe the rights to a ‘Cloughyesque’ movie – could be an earner?
‘ The Sevvie Gerrard Story’
‘ That Day in May’
‘ From Here to Indemnity’
‘ You’ll Never Walk (from) a Loan’
Ntcham voucher, so funny!!!!
So right, my god I detest these lowlife, they deserve no sympathy.
HH
Are the Rangers still coming?
What about the hover pitch? Casino?
Will there still be a world class breakfast?
So many questions!
Bhoys – side splitting as the latest Ibrokes “investment “ statement might be, we should not interest ourselves in what the Huns do.
We need to re-double our efforts and make sure that the number one club in Scotland continues to invest properly in the playing squad to ensure that 10IAR and beyond is achieved
Just a bit of mischief, but if the Ibrokes end up 4th in the league, is that enough or would you not be too unhappy if Motherwell happened to win the Cup and so the Club that JB played for was not even in Europe next season – or would you want to watch them not make Progres again lol
HH
£6 Milion.
Sounds familiar that. If I remember correctly – our cut of the Van Dijk deal!
This just gets better and better……?????????
Most commentating here respect SG for his solid record as a top class player who eventually moved to youth coaching and has a creditable record. We also know Dave King is a ‘glib and shameless liar’ who is facing a historic cold shouldering if he does not comply with Takeover Panel rules and the ruling of the Court of Session.
It might appear therefore that King needs Gerrard far more than Gerrard needs King. Where there might be mutual benefit would be if a team such as West Ham decided to approach SG. He could then do walking away while King might manage to get a nice payday on his previous largesse at the expense of the poor bloody fans before retreating across the Limpopo.
Is this entire SG deal just a booster for both men? Maybe. But either way the fans will pay.
A real life tragicomedy. Or Downfall 2: mutually assured destruction?
No way will West Ham be offering Steven Gerrard the Managers Job
Gerrard not to be Rangers manager at last league game if 2018/19 season. 11/4. Easy money.
Wonder what the odds are on him not being manager at the first game of the season?
What’s the odd’s on him not being manager at end of THIS season?
What price for first game. He’s just there to sell season tickets to the gullables
I feel truly sorry for my friends to have this charlatan build them up and smash them down again, my close friends only….as for the others???
Sides splitting…..
The minute I heard from Dave King that for a sustained period during the season Sevco were the best teammin Scotland I knew exactly what he had told and sold Stevie the Ger.
It won’t take much ….. Look
It’s lack of discipline that’s the problem, strong leadership is what we need , your the man Steve Bhoy, I mean Ger, you’ll be called Stevie Get from now on.
We are the people Stevie Ger and your then man. I promise you’ll have plenty of support, you’ll never walk alone (see what I did there Stevie Ger eh eh ) ….. Talking of walks the busy season is coming up, how’s about me and you pound a few miles with the support, great family days though Lourdes is probably a bit young.
Well Stevie Ger hows about it, we are the Peepel oh and Six million should cover it eh …. Your wages included.
The GASL has played a blinder here and you have to admire the brass neck of the crook. To be able to con quite so many peepul at the same time must surely be some kind of record and someone should inform the Guiness publishers.
Far Eastern investors, really? I’ve been hearing that pish for weeks now and no wonder no one could give any details – there are no feckin investors! So the sevco aren’t coming and won’t be coming for quite a long while yet.
Mr David Cunningham King, you are the best thing that ever happened to Celtic in their quest for 10 in a row (going on 20 now). HH
If I said they were in tatters would that be inaccurate. £6m, wouldn’t buy a terraced house in Fulham.
How soon before Gerrard’s wage is an IOU slip from King or a court appointed administrator? Can’t be far away.
I reckon he’ll never sit in the dugout he will fly the nest before next season starts
Exactly what i was thinkin
. all a con for st books
Some of their fans are truly without intelligence… they are saying they now have a £25m transfer kitty (£16m season tickets money / £3m kit deal and £6m share issue).
what’s left for the running costs then, you know, those pesky things like wages / police costs / everyday running costs of the club.
idiots ????
Over on Idiot Noise, some moon barker thinks that, on top of all that ST, new kit and other unicorn money, they will net somewhere in the region of £20m by offloading all the dross on their squad. Yep, someone out there actually thinks Alves, Pena, Herrera, Cardoso, Windass etc are worth £20m. I doubt they would raise £20 for those no marks, but he is convinced that there are teams out there falling over themselves to sign them. Unsurprisingly, even his fellow fans are ripping the pish out of him. ??????????????????????
Mr King also said he didn’t know how much of that would be available for transfers
Then when pushed about the war chest(no laughing) His reply (summarising) No set budget
So in other words he haw
You’ve got to wonder what bullshit StevieG swallowed before he signed on the dotted lines:
a) share offer – not if TOP nad COS have any say
b) you’ll attracting global investors – but the bullions will take time
c) mega merchandise sales – land of milk and honey
d) 250,000 season ticket sales – we’ll add two tiers to Ibrox
Oh Stevie, have you been more gullible than the average bear? Should we call you StevieGG from now on?
Today, I’ll mostly be growling “Diamonds in the Mine” by the mellifluous Leonard Cohen:
And the trees are burning in your promised land
And there are no letters in the mailbox
And there are no grapes upon the vine
And there are no chocolates in the boxes anymore
And there are no diamonds in the mine
Surely you must be wrong I cannot believe our intrepid sports reporters would have generated so much hype for such a paltry sum
Oh I forgot I live in Scotland home of the laptop loyal.
Some things never change.
Once again the fans to pay up;will they ever learn next move king will be sitting on argyle st,any spare change.Steven Gérard here for 10 in a row.
I thought you said Celtic could sell two fridges to generate that sum.
And here I swear I’d heard Staunch Stevie had requested 20 million per year over three years. In other words, 60 million. Obviously, King Dave misplaced a zero. Should be in the sofa cushions somewhere …
£6m to pay off some of the dud sounds about right. So SDM, Chinese Investors, £254m coming, some guy who owns a whiskey firm was all horse sh!t. Dave really is scraping the bottom of the barrel. SG is his last throw of the dice.
Some random thoughts.
£6m won’t pay Gerrard’s salary over the length of his contract.
The panel won’t contemplate allowing a share issue until GASL has made his 20p per share offer for the shares not owned by his concert party.
Gerrard really has signed on the basis of King’s promises !
Gerrard will walk before the season starts.