Apparently there is nothing to worry about.
This expensive and long-running legal battle with Ashley is no biggie.
However, they can’t currently share the details at the moment.
That, essentially, is the gist of the most recent Churchillian communiqué from Club 2012.
You can read it here.
Of course, dear reader you can make your own mind up by examining the words of the judge for yourself.
I am surprised that this statement was put out given the brilliant legal mind they can call on at Ibrox.
Did the Conveyancing Consigliere give his approval to this dignified proclamation?
With a wonderful display of understatement, the Sevco chaps have stated that:
“Clearly it is not a positive situation to be on the wrong end of such decisions…”
Indeed!
The statement makes reference to the launch of the away kit for this season.
Presumably, this is being proffered as evidence that everything is hunk dory.
“As supporters will see from the release of the new away kit, there is no restriction on supporters buying this season’s kit and the purchase of those kits continues to benefit the club.”
As I have previously reported, the recent ruling of the court stated that the Sevco must cease to operate the Elite/Hummel deal forthwith.
Moreover, Ashley must be paid his cut from every sale.
It is difficult to see how this legal reality squares with the view that continuing to buy merchandise will in any way benefit Sevco in the long term.
Perhaps there’s the rub right there.
If, as I reported, that Sevco are desperate for cash in the here and now then they will deal with any fallout later.
At present, they need that revenue from merchandising no matter what the court judgement says.
If you take a step back and model the available data as that which is emanating from a distressed company then it starts to make sense.
If there is a desperate attempt to keep the lights on then this response to a very damning court judgement makes sense.
Moreover, the equally shrill sounds coming from Operation Sell Alfredo is entirely understandable.
Indeed, it is now Operation Sell Anyone.
If you Follow Follow the money then this bizarre statement today is entirely understandable.
For the avoidance of doubt, Sevco are desperate for cash.
I fear to think what will happen if there are no bids for their players or Mr Let’s Go fails to get the basket of assets into the group stages of the Europa League.
My take on this statement today is that the official club communiqué on the subject has not sufficiently soothed the Ibrox klanbase.
I’m sure now that the folks who comprise Sevco’s clientele will be sufficiently reassured.
After all, credulity was weaponised at Ibrox long before the club was founded in 2012.
Of course, the usual suspects in the Stenography Corps will also state that there really isn’t to see here and it will all work out.
Just like they did for the original Ibrox club in 2011.
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Quelle surprise…… Newcastle manager distances club from Tavernier bid.
Ah well, no worries with another dozen clubs in a bidding war, a secret bidding war of course, just like the queue of clubs looking to sign the Colombian man/child.
Another day and no confirmed offers for Morelos nor Tavernier, despite the growing number of clubs being linked to them which we are told would spark a bidding war.
It’s as if someone is controlling the narrative and bids in the £3 to £5m range don’t actually qualify as real bids therefore no point making them public which would only assist a genuine buyer on where to pitch an offer.
No doubt Mr Maxwell has been on the phone to Ibrox to clarify whether the SD issue will have an impact on Rangers seeing out the season.
Perhaps he could also ask why the statement issued by a Rangers subsidiary and the text of the full judgement released last week are so contradictory?
Statement o clock and any news emanating from Ibrox has to be taken with a very large pinch of salt.
M’lud would have choked on his breakfast on reading the ‘interpretation’ of his judgement being floated by the Ibrox hierarchy and their chums in the media.
It appears to be a clear contempt of court and using Club 1872 and subsidiaries to hide behind is a rather shallow attempt to fool the judiciary.
It’s a typical King move which he has pulled more than once in the past.
It’s so transparent that a 5 year old could see through it and no doubt Sports Direct and their legal team will be on the case and look to the courts for a remedy.
No doubt if the roof falls in Ashley and Sports Direct will be painted as the villains whilst those respobsible for signing, then ignoring, the terms of the merchandising contract will distance themselves from the clusterfuck of their own making.
Kingco must be ever so thankful that, with the aid of a compliant media over the past few years, selling his version of the truth to the most gullible fans in the world is a dawdle.
The attempts to sell More-or-Less are now becoming embarrassing. Steven Gerrard’s comment, ” You’ll have to ask him if he’s staying or going.” Really??? So if the Petted Lip says “Im off!” Sevco will just rip up the contract and let him walk. Or will they say, “Gonnae somebody come n buy this dick? Gonnae, eh, gonnae?”
I think as far as the flying elbow is concerned it’s already reached Dutch auction stage.
It can be interesting to watch the domino effect when one of the truly great big name players moves for megabucks. Who’s sourced to replace him, who’s sourced to replace the replacement and so on.
Ach, sevco must be absolutely GUTTED that the Bale to China deal fell through. Clearly the wee Columbian would have been right in the frame as a ready made replacement!!!
I did have a quick scan through the judgement and did notice in point 95 that the judge said, “Nor do I consider that there is any risk that Rangers’ ability to function as a football club will be impaired.” . Not fully understanding the legal stuff, I’m hoping that only means in relation to their ability to sell merchandise and does not take into account the potentially large fine that is coming their way.
I don’t think SD results will have a long term negative impact on MA, shares rallied at 9% down and in the grand scheme of things not a big deal. Neither will that effect the ongoing dispute/judgement against Rankers. They really fucked up putting out the away strips and pop up shops, goes completely against my limited understanding of the written judgement.
Tiawan, nice one.
Phil…Kinda on the same theme…
Has the ” ownership” of Ipox and Auchenhowie been decided yet ?
Am I correct in saying that Craig Whyte is attempting to prove ownership…?
Should I ask John Brown…..??
Oh ..ah forgot…he disnae know where the Deeds ur either.
Seriously ‘though….Is there a Court case re. this…?
Wasn’t there a story that Whyte sold his right to claim to a specialist company that takes on these types of legal battles?
Our bhoy Craighy own Ibrox
I was expecting this to be a post about the recent statement made by Sports Direct. I look forward to seeing your analysis on this Phil
cheers,
Sean
How thick are they ,it was their board and criminal chairman who signed the agreement with sports direct .
Are rangers fans that stupid that they can’t see the enemy is from within .
They deserve every thing that is coming there way .
Although we won’t hear about it in the Scottish media.
Have you looked at company house records on the rangers international football club.
According to that it says Mr Douglas Ireland Park has a current net worth of £-1.6m
Who are rangers going to go to for money if he’s in a hole for 1.6m.
Surely they are in a fairly positive cash flow situation just now after significant season ticket initial payments have come in? If they are desperate for cash now then the situation must be utterly horrendous… I’m rather excited… 🙂
It would be most appreciated if TRFC had its insolvency event before the league fixtures commence.
Karma is hovering over Ibrox.
Oh well…
You see Karma, I see the Grim Reaper.
It either takes bottle or sheer desperation to be selling merchandise under Mike’s nose. Maybe they’re going to welsh on all their debts again. HH
What do you mean again!!
This is a new club, if admin comes then it will be the first
May they rest in hell
I take it that the much publicised initiative ”Everyone Anyone ” from last week was a desperate plea to football agents everywhere : to whit – ”Everyone ” and ”Anyone ” at Ibrokes is for sale . Please ! All and any offers accepted !
So the message is KEEP BUYING THE STRIPS, no doubt there will be a few unofficial pop up shops sprouting up all over the place down ibrox way, with the finest made in Taiwan gear on sale!
Ryan Kent for Celtic? Everyone/Anyone up for this?
A sort of Ibrox version of Jack and The Beanstalk, but instead of magic beans, we have sevco-branded viagra producing pop-up shops all over Govan?
My mate bought shoes at the Barras…when he got home he discovered that one was a lacing shoe…and the other was a slip on….Back he went….
“Hey Missus….see these shoes…??…Well wan’s a slip oan and wan’s a lace wan….Ah want ma money back.”
“Check whit it says on the boax pal…It says….TAIWAN….!!
very good