I had wondered a few days ago when the next batch of intravenous ersatz hope would be delivered to the beleaguered Ibrox klanbase.
Well, I didn’t have long to wait.
You will note dear reader that the term “closing in” is doing a lot of heavy lifting in that world exclusive.
However, let’s play the game.
If £20m of new money was magically delivered to Sevco right now then there are a few waiting in line for a chunk of it.
Depending on what the judge decides Big Mike could get as much as half of that sum for the damages he incurred due to the Sevco car boot sale.
Of course, Close Brothers have security on their loans, and they will need to be paid rather soon.
Then there is the messy litigation with Elite/Hummel that is unfolding now.
Moreover, all of that doesn’t factor in the simple need for working capital.
The yearend accounts as presented to the AGM in 2019 stated that there was a need for up to £15m of external finance.
That is “keeping the lights on money” and nothing more.
Of course, the Ibrox klanbase will read this piece today in the Sun and immediately start to divide up that headline sum into transfer fees for new players.
For the avoidance of doubt, that is the utility function of this award-winning exclusive.
With pitiable credulousness, they are an easy mark for such high-Level pish.
As ever, it is advisable to follow follow the money.
However, do not expect the Stenography Corps to indulge in that as it involves journalism.
Questions answered and answers questioned.
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Brings me to a thought. Middle of March and still no interim report on financial health of Rankers.
I’ve diddled one together myself.
Outgoings
Close bros £7m
Lights £10
Fees £7m
Herr Ashley £10m
Wages £6m
All owed till January 2020
Income
Merchandise £0.50p
Season ticket sale £1.50
Pies £25
Europa League £5m
Pharmaceuticals £5m
Now by my reckoning there’s a deficit and to publish these accounts I’d be mental especially when I’m trying to pure a pigeon under my dustbin lid and string.
For the avoidance of doubt these figures were pulled from thin air and duly signed off.
It’s an interesting pitch for selling season books.
Why didn’t they go with last years approach about financing players for Slippy to stop nine?
Let’s all chip in to stop nine. Let’s back Stevie.
Is Stevie not going to be there?
Going to play along with the fantasy investment from a fantasy investor living in a fantasy country story for a minute. Unless you have an emotional attachment, there are only 2 reasons to invest money in a business; 1) to get a return on your investment over a period of time or 2) you are getting something else in return (hint; involves a washing machine).
Now we know that number 1 above is not possible given the clubs losses since inception in 2012. So if it is a genuine story that leaves number 2 option.
Oh, and, of course, there is still the 3rd option that explains this all clearly – it is all simply pish on another Level to keep fleecing the fans!
Given the fragile state of the economy, stock markets in turmoil and a global pandemic on our doorstep I’m sure there’s an investor just desperate to invest £20 million in the eight year old toxic brand rangers.
I heard the figure 200m bandied about…..add in the ‘off-the-scale’ sponsorship deal that Apple and Amazon are fighting to sign with Rangers and things are looking Rosie
It’s all just Pishful thinking.
I hope it convinces the Klan to re-invest in the new dream thats spun up, ‘Stoapin the ten, a big fat Hen’ and they buy their SB’s, invest in Club Tropicana and purchase the Turkish shirts and King walks away with the lot. No extradition from SA, GIRFUY fae sunny S’afrika !! He gets what he came for, his laundered £20m he gave to the previous crook.!
Hammer,nail,head.
Lol here we go again squirrel time o’clock. Season books need to be punted get this FAKE news story out to the tea-cosy beanie wearers pronto . Stories of managers quitting then reinstating themselves, finding players valued at 22 million quid from nowhere, not a bean spent on maintaining the pitch hence it looks like a farmers field . 10 million quid + to see out the season, about half a dozen court cases running against them just now , login into Ebay to see if someone could put some strips together for them for next season. Aye right 20 million bangers out of thin air the gullibles will lap it all up . That will be the Klan rich again . No doubt radio shortbread will do a 1 hour special on it tonight .
Hun eh,the papers say
Release a squirrel,feel good factor all is okay
Hun eh,it’s verbal pash
Jabbas gash mixed with Kings pish joost geis yer cash
Nae new taps,Petrofac,55’s a daydream
Think I’ll resurrect a football team
Hun eh,he’s oan crack
We’re all right ,says yon Chris Union Jack
Hun eh,oh he’s a tit
Dinae gi’ me that MSM,Scottish media bullshit
We’re in the Champions,First Class,Dafabet
fucking Lear Jet
Hun eh,Aye Scotland’s shame
Couldny dae it fair n square so don’t you dare to cry
Huns eh ,so they say
Are the root of all evil today
But if you ask why they died?no surprise that they’re
In denial,today,today…
Phil, in order to fact-check this Sun article I’d to wait and see what you had to say about it. A bit like how I consult James Corbett as to who and what’s behind fake Mainstream News. Keep up the good journalism.
Ah the much heralded Far East investment.
I thought the definition of investment was to put money into something and come out the other side with your capital plus a return on your money.
It only takes a quick review of the Ibrox club/company’s annual accounts to realise that there will be zero return on your hard cash and eventually your ‘investment’ will be converted into much diluted shares in a company that has never reported a profit in its short life.
As you point out £20m will barely see off Sports Direct and Close Bros plus the others getting in the queue.
Off topic Phil…but…
I see that Mr. Beaton,of Loyalist leaning fame, has been given the whistle for Sunday’s encounter.
As I write ,however, I am not aware that our Club has protested this appointment …and that is a disgrace.
When you look back at his ” behaviour ” in the Sevco pub after his last derby game…which smacked of arrogance and GIRUY Celtic…it is a shocking indictment on Scottish football that he is still refereeing at all.
We, the supporters, can criticise and complain all we like about this …but we know sod all will happen.
So who should we look to then…?
That’s easy…our Club leaders should be officially refusing to accept this appointment and demanding a change of Official.
Sevco do it all the time…successfully.
But wait…I’ve just remembered…
Our Club leaders won’t support Res.12….They accept 3 game bans of Ryan Christie from the compliance officer…and…
ach well you get the picture.
Bottom line is…Scottish football is corrupt to the core…and will continue to flourish in this way.
I’d like, therefore. to thank our Board…for nothing.!!
If I were gullible to the point of doing things like sending money to internet girls or buying shares in asbestos-based toys, even I would be insulted by this fantastic fabrication. I appreciate that nobody ever lost money by underestimating the intelligence of the average Rangers fan, but this is demeaning.
Or maybe it’s just me?
Why would “investors” even entertain it if all it was doing was keeping the lights on?
Season ticket sales pitch, nothing more. Something for fans to say “at least there’s” once they get thrashed on Thursday and Sunday.
But, Phil… you’re forgetting about the £22 million coming in for Barisic. And Alfie must be value for one of Craig Whyte’s shiny coins!! 😂
Memorial walls can put one up for the rangers 2012
Ringers twenty twelve…as in car ringer
Made of stolen ,damaged and re used parts
I think this investment story is true. While I was living in Shenzhen, Southern China, I received an e-mail from somebody in Hong Kong saying they had £40 million they wanted to share with me as long as they could put the money in my UK bank account. I informed the person that I could get the train into Hong Kong on Saturday and meet me….unfortunately i didn’t hear from him. Maybe Sevco had the same e-mail?
Well, he’s in for a right dizzy if sevco send him THEIR bank account details. There’s fuck all in it to clean out.
Very True
Season tickets needing renewed. More or lees the same headline in 2016.
Hi Phil, I’m led to believe, correct me if I’m wrong, but due to UEFA fair play rules, clubs such as the Rangers, who have been trading consistently at a loss, are not allowed to prop up football operations with “new” finance? Therefore any new investment will need to be spent on areas like stadia and infrastructure, not on players, wages, transfers etc.