It is always advisable to follow follow the money when you want to know what is going on at the basket of assets.
So it is with their new kit supplier.
When Puma refused to renew the relationship the Sevco High Command dispatched their dignified emissaries to all of the other major outfits.
Firstly Adidas shut the door on them.
Then they had a sit down with Reebok.
There was a rather sticky moment when one of these Churchillian chaps decided to bad mouth the company created by Adolph Dassler.
It was clear that the Sevco negotiators did not know that Reebok is a subsidiary of Adidas.
This prompted their account manager to ask “do you know who owns us?”
Awkward…
The Holding Company vehicle then looked at the other available options.
Macron was another refusal.
That left Hummel and Sondico.
Of course, the latter is owned by General Ashley.
So it came down to the Denmark based outfit.
I was told today by an impeccably placed source that the Hummel deal is worth around £1m to the basket of assets.
That is split between a payment and a full inventory of gear.
At least there will be no scrapping off of initials this season!
In terms of money in the bank, it is somewhere in the region of £500-£600k for the year.
Now, to put this in some perspective Celtic will receive £30m over the duration of the New Balance deal.
That does not include bonuses.
So, for last season the Treble win brought in almost as much in extra payments as the basic fee.
When the Convict Chairman found out how much Celtic was getting from the American sportswear giant he contacted Puma to demand an improved deal.
To demand an improved deal…
Unsurprisingly he was refused.
The disparity in payments from commercial partners further underlines the Poundland nature of the current Sevco operation.
As for all of that unsold Puma stock?
Well, the Holding Company Vehicle still have to buy that back.
For the avoidance of doubt, it is now pretty much unsellable, but that will not matter to General Ashley.
A deal, after all, is a deal.
Together with handling fees and ancillary costs I’m told that the bill for that is between £1m-£1.5m.
Sadly, that invoice could already have been raised in Shirebrook.
Indeed, it could already be on the desk of the Serious Professional.
However, I’m sure General Ashley will be very understanding if the basket of assets is currently experiencing any of that pesky cash flow difficulty…
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‘This prompted their account manager to ask ‘do you know who owns us?’
That question could’ve been promptly returned worded exactly the same,coz I’m sure 20p or 1p shares,1m of them for the early retired gardener,so shares seem pretty worthless atm.So Who really owns them?or who’d want to? might be a better question.What ever happened to that monthly payment of approx 300k that was in play a while back sent ‘off-shore’ mysteriously.
Archives I doubt for me,sorry Mr.Fear has that issue been dealt with,or is it still in play?
Pro-li-if-ic in a Mike Reed ‘Runaround’ now stylee.
Phil take the weekend aff,oops,ye cannae,yiv got a wordmine tae operate.
Thanks truly appreciated,time,contacts,knowledge,integrity Aw the things mssm need,but probably wouldn’t know what to do with these attributes if they slapped them in the chops,repeatedly.
Defo going like a choo-choo Mr.Fear.
Just goes to show that nobody has a scintilla of business acumen at the crumbledome. Any other club would have undertaken some research before landing such a shite deal from a bottom feeding sports company but then again, the breadth of their sense of entitlement knows no bounds. HH
Humming, Hunnel, Hummel … A loved child has many names is a danish proverb. Living in Denmark I know a little about the company and while they are not Adidas or Nike they do have a European Championship winner in their roster. They are also represented in Russia this year. New balance are also represented but have no major trophy to boast of (in foootball)
Hummel, though technically never in administration, have had financial problems but crucially have gotten thru them. Admittedly with DCK in charge not much use, but if his tenure is shortened, could be a valuable partner for a distressed company. They also won back the Danish national team from Adidas 2 years ago even after Adidas had launched a new strip for the next season. What i’m saying is they might be small but they’re not shit. They are also daft/bold enough to take over that shower and make a go of it!
Last words General G. Mc Arthur always had a sign on his desk that said “This too shall pass” to remind himself and others that good times and bad times don’t last for ever. Enjoy it while it lasts
HH
As I recall, we hummeled Rangers on several occasions last season. xD
I hear the new Home kit from Hummel fashion house is a playful variation of the Sackcloth & Ashes motif. It really is this season’s “must have!”
Is ther still an issue with selling the new kit from the Sports Direct superstore or anywhere
Phil… I think you’ll find they are more Poundworld than Poundland.
(Poundworld went bust last week!)
Let’s not be too hard on Sevco. After all, they’re not long out of nappies. There have been teething problems. Alphonsos More or Less epitomises puppy fat. Then, of course, the tantrums following spankings from the champions. Nevertheless we are all children from Hummel beginnings.
I know, I’m getting worse, bless me father but I hate the W⚓️S
I thought they were very much still in nappies….I’ll get me romper suit…
The brass neck of Glib demanding an improved kit deal.
That’s his MO…
Maybe their sponsor should be called “ PUMMEL”
After all that’s what we’ve been doing to them for years.
Thank you.
I was just wondering if the Wi-Fi guys had been paid ??
No….HH
I would have thought that if the Wi-Fi people have not been paid then Close Bros wouldn’t be able to take a charge against this – anyone clarify?
The remnant Shirebrook stock will very shortly retail as “retro kit”. I hear that nice Mr Dickinson from the antiques telly show has put a reserve value of aforementioned retro kit at around £60 per shirt. XXXL tends to add to the value somewhat – nothing to do with the rarity, more to do with the amount of cloth required in the manufacturing process, you understand!!
Ashley is probably one of the few creditors who would take pleasure in ring-fencing funds in court to force RIFC administration and not give a flying feck about the consequences. He’s big enough and ugly enough to understand the risks and rich enough to think about the cost of 24hr security as a small price to pay for the pleasure delivering the coup de grace to the Lying King’s fantasy football club.
It’s all very well not caring who dislikes you – but generally it better not to take the piss out of billionaires in public – genuine billionaires that is – people with billions of pounds to weald against you. You’d think they would have learned that by now – definite signs of learning difficulties at the top of the marble stairs.
Go on Mike – you know it makes sense 😉