So it is back to domestic business on Planet Fitba today.
Neil Lennon stated at the start of the international break that his only concern was that one of his players could come back injured.
Across the Clyde, there were other concerns.
The international interregnum meant a period without any match day income.
That’s not so good when your weekly cash burn is approaching £1.5m.
Moreover, of the next four fixtures only one is at home when they play their low-calorie cousins on Sunday 1st December.
Consequently, there is precious little match day revenue going into Sevco’s rapidly depleting coffers at this time of year.
Undoubtedly, the Ibrox klanbase would have been buoyed by the news of fresh investment in January.
The purveyor of these glad tidings was none other than Mr Alexander Rae EBT.
I’m afraid my initial response to this breaking news was a tad cynical.
However, a Fenian in Donegal with a press card was not the intended target of this high-Level confection.
In true Trumpian style, it was targeted at a consistently credulous demographic.
Sadly, it seems to work every single time.
Now, for the avoidance of doubt, I’m sure that Mr Rae HAS been told of impending investment and I am thoroughly convinced that he DOES believe that.
Therefore, his assertions on live radio carried the weight of genuine conviction.
In a decade of reporting on matters Ibrox your humble correspondent has always tried to follow follow the money.
Now, despite the occasional turbulence created by various spin operations over the years, in the end, my reporting has usually been vindicated by events.
In that sense, I do not see any great difference between Rangers and Sevco.
Therefore, dear reader, you would be well advised to ignore the gushing pish emanating from the stadium that Mr John Brown played for.
Instead, focus on the forensically established facts.
Of course, those are the things that journalists should always be concerned with.
Sadly, facts are kryptonite for the Stenography Corps.
Enjoy the rest of the weekend!
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Once again ( I have lost count ) they get a home tie in the cup. Seriously need a clear out in Glasgow, and instead of the Micky mouse ( hot/cold ) balls out of a tub, picked by two has been’s, they should number the teams and use a lottery style machine to genuinely pick teams at random.
Ps your unnecessary sly digs at Hearts are unbecoming of a so called serious journalist.
‘Sly’ digs at a club whose fan invaded the pitch to attack Neil Lennon- the same club whose fan swung a punch at Scott Sinclair after he scored at Tyncastle- the club who’s player deliberately tried to eunachise Scott Brown- a club known for making monkey chants to black Celtic players……comments unbecoming of a Celtic fan….on yer bike ya twat
I see that our friends at IN are speculating that one of the possible sources of new investment is for the club/company/thingy to be floated on the stock market, new Nomad et al.
I wonder how long it will take for the current share issue value of 20p per share to reflect the near £50m pounds of trading losses since inception in 2012?
Can they float it without a NoMAD?
I think that is why they are heading for Dubai for their winter break. They are not actually going there to train – they will be scouring the desert looking for a tribe of nomads! 😁
Seriously, why haven’t Ranger’s liquidators ask the EBT recipients for the money back. I would like to see how they would get out of that as legally they don’t have to but morally, it’s a different matter. Why haven’t the lawyers for the creditors insisted? Do they have anyone representing them? Fat chance of success but at least it would put and end to these “stars” appearing in the media, from time to time, declaring their undying love for the club/holding company what have you. I hope to “god” those photos of Brown and Rae have been doctored.
These EBT’s have finally been classed as earnings, which they are (by the narrowest of margins) legally entitled to. It is the unpaid tax on these earnings that HMRC are legally entitled to. They have nothing whatsoever to do with BDO.
Phil, when you say that they are playing their low-calorie cousins on 1st Dec. can you be more specific. Do you mean Hearts, Motherwell, Airdrie, Kilmarnock etc etc. There are more, but you get the point. Hail Hail
Those Spacemen over at Ibrox Noise have already earmarked £5m for William Bony!
The £1.5m monthly cash burn estimated by Phil seems right on the ball and with player additions and improved contracts the monthly loss will be around the same number compared to the previous year’s loss of £1.1m per month.
So come December they will have wracked up half year losses of around £9 million.
Unsustainable you would think. Even the guy responsible for last year’s positive half year results will have his work cut out to polish this year’s turd.
I suppose as long as someone/anyone is willing to pay 20p per share then the show will roll on till the value of the sheer volume of shares in play reduces their value to nil.
If a company who had run up losses of nearly £50m in its short existence was quoted on the stock market the shares would already be reduced to zero value.
Kingco is all in on winning the SPFL this season, then progressing through the qualifiers to the group stages of Champions League.
Many a slip……etc. It’s a huge gamble to say the least but, apart from selling Morelos and Tavernier, its the only play in town, apart from the multi million pound investor waiting in the wings.
A kind of Whyte’esque gamble then – how did that end?
It hasn’t ended… yet!! BDO are stretching it out for our amusement. 😉
You are misinformed!
I was told today on authority that Rangers are getting millions back from the tax man so no need to sell Morelos and in fact the team will be strengthened big time in January
Celtic need to sell Edouard and others to pay for the child abuse claims and will fall apart in January
So keep up in class Joe !
Alex Rae is picking up the Sevconian pom poms vacated by Derek Johnstone on Radio Snyde.
So long as he doesn’t wear the pon-pom skirt. 😂
.. or, a ra-ra skirt even!! 😁
Is this the same mystery investment that was being punted, noticeably on Clyde, last season?
Funnily that never materialised if it was even real in the first case.
What kind of investor is going to roll up at Edmiston Drive with say £10 million burning a hole in their pocket and throw it into the ever increasing black hole to pay off Close Bros and Sports Direct never to be seen again!
Of course having a relationship with Close Brothers, who have their dibs on anything thats not nailed down at Ibrox, could be an open door to further ‘investment’ with the stadium itself the prize?
As for Alex Rae he certainly passes the Super Clyde intellect test, then again so did Derek Johnstone, the true voice of a football.
The Daily Retard assures us in a puff-piece this morning that there is the possibility of investment from HK and the Far East. So, that’s the Wo Sing Wo in for a few quid, and a potential partnership with Amoy that will see the bigotdome renamed as the Rice Bowl. 😄
Every club knows that Sevco are desperate for dough and that they are a price taker. Any offer for Morelos will be acceptable
Between playing Porto on 7th November and the 22nd January, Sevco have only THREE home games. The Hearts game which Phil mentioned, Young Boys and Kilmarnock. Now assuming that the European tickets were sold as a block, the bawbees for the Porto and YB games has probably been received and also probably spent already. If, as Phil suggested, they are burning cash at a rate of around £1.5m per week, they will have spent about £16m in that almost eleven week period, with only two home gates and a cut of the Cup Final gate coming in. Throw in a trip to Dubai as well and I can’t be the only one to see problems coming very soon.
The situation is actually WORSE than I originally thought. Since they played Hamilton on the 6th October, they have only played ONE home league game. That basically means, that over a sixteen week period, they will have gone through around £24m, with only THREE home league gates and two SHARED cup gates to finance it. NOT a sustainable situation.
Thanks once again Phil this is comedy gold, loving it.
The Klan have nothing to worry about when it comes to finances as wee Coco over at ibrox noise has now put it out there that sevco are looking for get ready for this 100 million pounds for fatman morelos in January. Apparently they also have the next Messi in their development squad some guy called coombes-young or some name like that . Wee Coco definitely comedy gold .
I thought Kent was the next Messi?
Obviously he’s just Superman.
Telling ye what wee Frimpong is going to be sold for more than Tierney if he keeps going the way he is.
GENUINE CLASS,
Haven’t seen him in the flesh, only on the box, but massively impressed by what I’ve seen. EVERY Celtic Park regular I know is raving about him. According to one of my brothers the £25m we got for KT will not buy his left testicle in two years!
You could watch him from space with a set of binoculars and see how much class he has bud.
HH
They’ll have to get him out of Colombia first! HH
Perhaps the ”major investment” will come from all those EBT recipients, like Rae himself, who will pool all their tax savings and donate it back to the klub they purported to love.
Weasel Rae proves that you can fool the gullibillies all of the time. Hh
I met alex rae recently at charity event, he has funded an addictions charity In glasgow for many years from his own money, i was impressed by his genuine kindness and honesty, think fans should lay off him!
Was that from his own money, Richard, or the money that should have been spent paying his taxes the way the rest of us do? You might think he’s kind but he certainly isn’t honest. HH
Second Chance is a charity that Alex is a patron of and yes he should be commended for his efforts at helping it. Alex does loads of fund raisers for the charity like loads of other high profile people can and do.
I will correct you that he does not fund it from his own money though. They receive funding from GCC and like many other good charities in Glasgow then become beholding to funding streams to survive.
His charity work doesn’t exempt him from making bullshit statements and being pulled for them.
Tax deductible ?!?
Shot down there, eh?
Rae alluded to a share issue. Are they still 20p a share? Are the investors unaware of dilution?
Well, I suppose an ex-player – and sometime footy pundit – making ‘informed comments’,
on the internal, financial, decision making of a company which he doesn’t actually work for, [directly anyway],
will be blindly accepted by most bears at face value.
Whereas, any thinking person – and anybody owed money by RIFC/TRFC – will simply laugh at this pitiful PR p!sh.
Or become even more concerned…
Another two world records, sevco catching up with the old mob.
Most share issues in a season….and most shares issued in a season.
Still over half season to get another couple pushed through.
Love to be a fly on the wall at board meetings.
Right… any ideas how to raise cash to get us through next month.
What about another share issue, brilliant that’s that sorted. Right lads that was quick, now we can get back to the DVD…groundhog day it’s my favourite.
So wee Quark from Deep Space 9 (Alex Rae ) is feeding the BENNY’S more fake news . Just like Keith Jackass with his billionaire fake news about Criag Whyte and Mark Guiddi about a big massive investment couple of years ago from Asia. Ah the BENNY’S they do love a good FAKE NEWS story .
When they drop points and the PR won’t cut it, that cash burn of £1,500,000 will feel more like £10,500,000
Why stop there Eamon…move that decimal point further to the right. There , that’s better. Spot on. As for their share value, keep moving that decimal point further to the left. F**k me, didn’t realise economics could be so much fun. Hail Hail
Anybody know if they paid the final bill to the company that installed the Wi-Fi in the stadium John Brown played for?
That one seemed to disappear completely off the radar.
I suppose the proof of the pudding is are the 50,000 at home games getting unrestricted wifi/internet access?
From memory I think the original claim against the supplier was that this wasn’t the case and the supplier challenged this by saying they had delivered what the client had paid for.
It used to be a regular complaint on the Ibrox sites but isn’t an issue any more so I assume the issue is now closed and all 50,000 have the access they require and the supplier’s bill has been settled.
Happy to be corrected if anyone else has the answer.
Another reason it has disappeared off the radar is the possibility that their dodgy WiFi is to blame. That’s what happens when you enter into a contract with Trotters Independent Traders, I suppose. Lubbly jubbly!!
Large scale investment? Did Dave King find a tenner someone dropped at the pie stall?
Maybe the investment Alex Rae is referring to is the £50m tax rebate from HMRC. He’s not the brightest after all!
Indeed he is not CN. Which is why the bold Alex should move to Larkhall. Over there, he’d be considered a feckin’ genius. Hail Hail
Does selling players count as major investment?
Peter Lawwell seems happy enough with his Investment 😉👍🏼
If the thinking man’s Kris Boyd said that there will be major investment in January for Sevco, who are we to ridicule him?
Here was me thinking that Alex Rae was really Derek Johnston on Slimfast… my mistake!!