Last night the fine fellows at Club 1872 put out this paean to the Convict Chairman’s five-year reign of error.
However, it was a statement more suited for this day of fools.
If you really must you then can read it in full here.
The title of this post is nicked from my friend and publisher Bob Smith Walker of Frontline Noir.
His answer to my tweet won the Fitba internet yesterday.
In the immediate aftermath of the Off Licence Putsch, I wrote that if you preferred your schadenfreude in Ibrox flavour then it was a very happy time.
Indeed, there have been so many self-inflicted wounds on the Ibrox business model under King that it is worthy of a book in itself.
At the final conclave of the Sevco High Command that he attended some of the salient facts of his stewardship were put to him by a Blue Room colleague.
Let’s just say that it didn’t sound good.
Now, if some intrepid chap in the depleted ranks of the Stenography Corps wants to try some journalism then I have a tip for them:
Find out the terms and conditions of the £5m loan that Mr King generously lent to the Engine Room Subsidiary.
Major clue:
Find out if the loan is secured.
Second major clue:
It can’t be anything that Close Brothers already have as security.
Despite some heroic colouring by the Club 1872 chap, peace be upon him, Dave King took over a football club that was on the cusp of financial self-sustainability.
Since then it has been run on a Just In Time liquidity basis, often with 11th-hour emergency loans from other directors.
When that dried up, they had to go to Close Brothers.
Finally, Mr King had to put his own money in.
Gasp!
Of course, that was never part of Dave’s original plan at the time of the Off License Putsch.
Now, dear reader, I hope you’re coping well if you’re on lockdown.
Spare a thought for the Stenography Corps they have been so confined on matters Ibrox for decades.
Last night Netflix rather cleverly suggested that I look at a movie.
I have no idea how the algorithm had worked out that I saw the film in the cinema when it was first released here in Ireland.
You can find my review on it here.
The final dramatic moment is when the Supreme Court judgment is relayed to the newsroom at the Washington Post.
They had won their case and would not be prosecuted for publishing the Pentagon Papers.
The female journalist who is taking the call hushes the cheering and whooping as he re-states the opinion of Justice Black.
Spielberg moves the camera in for a close up as she becomes increasingly emotional, she states this to her now silent colleagues:
“The Founding Fathers gave the free press the protection it must have to fulfil its essential role in our democracy.
The press was to serve the governed, not the governors.”
If you get that then it is a punch the air moment.
At the end of the movie, the presses ran and the Watergate story was referenced.
It made me think of the changes in journalism that I had seen in my lifetime.
These days a whistleblower like Daniel Ellsberg might well approach a blogger rather than a traditional media outlet.
Ed Snowden reached out to the Guardian, but Chelsea Manning decided on Wikileaks.
The point is that there is now a Fifth Estate and on Planet Fitba your humble correspondent has, over the past dozen or so years, stumbled into that role.
For the avoidance of doubt, the current state of Sevco’s finances and “mystery backers” is utterly unimportant next to scrutinising government about their response to Covid-19.
However, the principles of good journalism are worth upholding regardless of the import of the story.
Succulent lamb is a virus and the Ibrox club was Patient Zero during the Murray years.
His financial doping brought the plague that infected the entire league.
In the end, it proved fatal for Rangers.
In the summer of 2012, Charles of Normandy created a new host from the body parts of the deceased club.
The Stenography Corps agreed that nothing really significant had happened when the CVA was rejected in June of that year.
That is despite the fact that the death of Rangers was reported on the front pages of their own blatts at the time.
Since then the Stenopgprahy Corps have been happily handcuffed to an Orwellian narrative that Richard Nixon would have approved of.
I reckon that Ben Bradley would throw them out into the street.
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To all you conspiracy theorists out there… hahaha!!
Covid-19 is not a man-made virus, developed by the military in some sort of germ warfare exercise – no!!..
According to John Carson of the DUP, this is God’s judgement for legalising abortion, and allowing same-sex marriages!!
So, it’s now safe to get yourself to your local sandwich shop, and order up your pangolin baguette.. PANIC OVER!!
Scientists have verified that this Virus wasn’t engineered in a Lab.
What they have failed to verify however is whether this non engineered Virus has ever spent any time IN A LABORATORY.
Like the Level 4 Dangerous Virus and Pathogen Laboratory that just so happens to be situated in WUHAN for example.
The only one of its kind in China as it happens.
Bat Soup…………….. Pure 💩Guano 💩
1. Pestilence- plague/Virus
2. Famine – Nae Grub
3. War
4. Death – everybody dies
The four horsemen of the apocalypse. I’m surprised Mr Carson has not thought ahead. Or read his bible.
The Death of Rangers FC in 2012 was indeed The Wrath of God and Mr John Carson knows it.
The Mayan Calendar predicted it. The end of their heathen world in 2012.
Why are the Sevco club not declaring Furlough or wage reductions? Are their Board just slow off the mark as usual? Or is it just not worthwhile as they’re totally f**ked?
The thought of Souness returning to Ibrox is laughable.
Presumably he would expect to be on the payroll therefore once again adding further to the trading losses.
It wouldn’t take him 10 minutes to realise that the good old days of HBOS generosity via SDM are no more and that the current version of Rangers is not the one he jumped ship for to go to Liverpool.
Off course he and Gerrard could be persuaded by Mr Park to invest their own many millions in the Ibrox reincarnation.
That indeed would be putting money where your mouth is.
Souness may be many things but stupid ain’t one of them.
I love the photo of Charles of Normandy. It’s as if he is saying not only did I take the shirt of your back I took two and here I am wearing them.
Quiz Time
Guess who said this:
For my part I will do my utmost to continue to be prolific, insightful and thought provoking’
Clue: An absolute Fu 🤴 🔔🔚
If you’re allowed three guesses, mine are (in no particular order):
1) BORIS JOHNSON
2) IAN MAXWELL
3) DAVE KING
🤣🤣🤣
Wacko Jacko at it as well. Knocking the UEFA WAIT AND SEE Policy.
Talking about the pandemic and humanity and all UEFA can see is it’s bank balances. Knickers in a twist comes to mind.
All Jacko can see is UEFA big money that SEVCO needs. How does SEVCO get it? Call everything off and pay SEVCO money.
WAIT AND SEE is killing them.
Jacko and Gordon Smith both agenda driven Sevcoites.
I don’t know how anyone could give credence to anything Gordon Smith says.
He was Director Of Football right up till Whyte stood on the steps of Ibrox and announced administration.
Sky TV caught him scudding across the historic car park in the aftermath and he was asked for his take on events.
Smith replied ‘ I know nothing about anything’ which just about sums him up.
For what it’s worth I believe 100% that indeed he knows nothing about anything.
I see the blue side is getting themselves in a tizzy over the Belgium league calling an end to the season and announcing Brugge as Championees.
There will be no football in Europe before Aug/Sept at the earliest. Even that’s dependent on no second wave of the pandemic.
Time for the other European leagues to follow suit and bring the current season to a close now and award titles as they stand.
Smith’s top appointment at the SFA was the most blatant example of “Brotherly ” love you will ever see.
Scotland at its ” best “.
Ah but the SFA picked him as the most qualified candidate.
An HNC in business studies can take you a long way. Look how far Dave King’s accounting qualification took him.
I would love to know how many applicants applied for the CEO job with the SFA and how many, if any, were actually interviewed?
I’m not sure what experience and qualifications took Maxwell to the top of the pile but I do know his knowledge and use of the English language would not have merited an O Level pass back in the day.
Gordon Smith now has the begging bowl out…
Won’t be long now Bhoys Adminnnnnnnnnn ……… 💣
Imagine a few weeks or months down the line here and King the saviour calls in his money he is owed that he apparently lent sevco . Say they don’t have it does he take them to court now what was that about statues again.
Old Gordon Smith has the begging bowl out to UEFA for Sevco. Isn’t he in his 70’s? Shameless.
The season isn’t over Gordon. It’s WAIT AND SEE. A very prudent approach.
It appears all at the DR want Uefa to declare the season over so that SEVCO can get its SPFL second spot money and uefa money.
WAIT AND SEE is killing them.
No one knows what the disease is doing. It could be gone by May, mid May or June…. we’ll just have to WAIT AND SEE.
SPL will have a big decision to make regarding the end of season. My gut feeling is Doncaster will go for nul and void and the Huns don’t pay anything back. Remember he has previous when he wanted straight into the premier league. Anything to keep us at eight.
The only thing that I can think of that they’ve not nailed down is their shoogly roofs… has King found an alternative use for corrugated iron? 😂
When the loan is payable is probably more crucial than what it is secured on. I assume it is payable at “the end of the season” Rangers continuance as a going concern will be further undermined but they are probably reliant on an early payout from UEFA regardless. I suppose the question is whether that ST money would be lost if there was an administration event.
So the board are sending out ST renewals for next week . The Klan are not best pleased about this on FF with quite few of them letting their feelings be known oh dear . I also see the Daily Ranger have a different name shouting them on with their feelgood factor FAKE news stories his name is Graham Ruthven . Today he has put it out there some names Slippy has in his BIG massive book of contacts . Rodgers and Hodgson are mentioned Rodgers will let Slippy have Fuchs from Leicester for nothing and Hodgson will let Connor Wickham go to sevco as he is at a crossroads in his career at the moment . But the best is the last 2 players he mentions about coming to sevco get ready for it once again they are loanees from Liverpool a guy at 20 and a goalkeeper at 21 . Wonderful stuff season tickets to be renewed early because of lack of cash and this water and flour man (that’s a doughball) is playing at fantasy football about who is coming in . The Daily Ranger they certainly know how to dig up these so called journalists.
Well there you have it folks Bamber Gascoigne at ibrox noise has called King a liar regarding the spending of £50 million on sevco . But don’t worry to much about that as the new man in charge Douglas Parks is a quality guy with plenty of cash to steady the ship and to spend the money wisely he is going to invest . Apparently nobody will be at risk of losing their job at ibrox as Douglas is a good guy . Let’s see Bamber’s praise for this guy when admin kicks in .
So Club1872 has gone public with a statement that confirms how stupid they are? Self deprecation at its best.
Perhaps the DR should stop ingratiating itself with this readership it values and not print anything at all? It would be fantastic for business.
Switcheroo to poo!
Close it down and start producing bog rolls. Now that’s where the real money is!
Maybe it’s the ex-hummell training ground that’s secured. Then again, anything secured can be negotiated and is probably going to be used as a tool to do so…unless.
DK with some forethought seen the crash coming, the conclave bongo drums beating out the impending doom. The heated calls taken from SA.
Then, he sees the opportunity to save some real equity and liquidity in the event of administration then liquidation. Any administration would severely cut into his £ to pence return. This way he safeguards his loan.
Wonder if there would be a decent journalist out there willing to suffer bullets in the post to expose…..doubt it.
Brilliant!
Please keep up the great work
We know the stadium is sacrosant after Kingco crucified Ashley’s team for using the stadium as security for a loan.
Close Bros have first dibs on everything that is moveable, nailed down or not.
Is it possible to have a loan secured against a player, or players, who are liable to be sold in the next window?
Just asking for a friend.
The bold Dave literally snatched defeat from the jaws of victory. As much as the Newcastle fans hate Ashley, Sevco would be in a better place than they are now had he won the day. A battle lost but still a war still to be won.
Luckily Jackson didn’t go
with the other story about
Broxi bear Disneyland FANTASY world contract.
That’s the season BOOKS sold out story.
Phil; love that wee teaser you slipped in there. Given there’s only a few things not already nailed by Close Brothers, here are my 3 guesses(in no set order);
Ibrox stadium aka ra’ deeds?
The ‘Rangers’ name and crest?
Incoming Season Ticket monies?
Come on, spill the beans – you know you want to! 🙂
It has got to be “incoming season ticket money”
As that’s the only guaranteed income. The Gullibillies will pay it and the lying King knows it
Season tickets getting punted out in the next few days from sevco it will interesting to see if all of their fans take this offer up of renewals . Apparently there is a waiting list of 14,000 to get a season ticket . Well so says one of their cheerleaders Gary Ralston .
Club 18GULLIBLE72 members will be rushing for their 20/21 season tickets on Monday. It’s a wise move by SEVCO/SFA/SPFL to get them all bought in before CELTIC are awarded their title.
No ST boycotts please we’re Real Rangers Men on the Board.
Will Ashley make a cash grab in two weeks and ring fence the ST money? Will King? Will Close bros? Will football clubs owed money? Four concentric ring fences?
Does King have the Stadium securitised? Rather ironic as five years ago he promised the clubs assets would never be used for loans ever again. Liar.
Is SEVCO destined to ‘do a Rangers?’
Oddly enough Phil, I watched The Post last night with my wife as well. We both agreed that journalism, in the press sense is dead. It is up to folks like you to bring it back to life.
King saved them from people trying to run the club into the ground. Really?
That will be the same folk who almost had them operating on a break even basis.
Since Kingco’s takeover cumulative losses are £50m plus with the latest financial results certain to add to that.
I was of the notion that Club 1872 were ‘ investing’ through buying shares in the club to get themselves in a position to have a rep on the board. That dream ebbs with every share issue further diluting their own shareholding, shares in a company which has never returned a profit in it’s short life span.
Lets see what King’s legacy looks like in 3 months by which time some very big chickens will have come home to roost.
I read Club 1872 statement with just utter astonishment at how gullible these people really are. While there are groups of people like them, there will always be the Dave Kings of this world getting rich. Absolutely mind-blowing.
There was never going to be anything else other than the perfect reference to send King off into the sunset . What more could we expect when it was King that gave (peace be upon him ) his gig in the first place who now pulls the strings at Club 18to30 . Remember they need that direct debit of £18.72 so they need to get it out there everything was always good with the CHISLER . There will be statements from Club18to30 in the coming days when the cuts are announced to back up the people left in charge after King’s departure . They are holding out for Celtic to announce cutbacks before announcing their own to look good in their fans eyes . Costly but worth it to keep the Klan onboard .
King was the guy that encouraged the rejection of a CVA. surely knowing the next step has got to be Liquidation.His next move was to claim Duff &Phelps for £20 million, saying he had invested this with the Knight of the Realm when he run the old club … Tough! This con man was exposed in court in S.A. He was exposed in court here against Mike Ashley. and he has eventually been found out by the present directors of the new club. There must be another word other than “Gullible” to describe the followers of the new club.
1872 are Gullible, just part of the well.workwd strategy to fleece the gullibles out if their dosh. They are part of the historical problem and not the solution. Same outcome from the oldco.
Sad to see my predicted economic collapse is in full swing, this was coming coronavirus or not.
Oddly the US long bond rate was increasing just before the coronavirus happened, now it has shot down. The increasing rate does not suit a lot of rich over levered people/corporations or the Big Trump who wanted re-elected off the back of a massive stock market bubble.
I’m sure there’s nothing to see here as the government hands out cash to everyone and bails out no end of zombie companies.
Then there’s the silence from the MSM on the German finance minister killing himself, odd timing dont you think. Could a German bank be about to do a Rangers ?
All in all, a very very bad time to be in debt and have no income.
Os this all related to football. Yes. The 2008 collapse led to the death of Rangers, the 2020 collapse which will be much worse ( due to the actions of the establishment in 2008 funnily enough ) could kill off no end of indebted companies.
Even when the virus goes ( and I dont mean Sevco ) the financial landscape will be littered like the fields of Culloden on 16 April 1746, where the cry was…..”Surrender”.
Is that right Billy aye?
Is the only thing not secured, and of any (potential) value at Ibrox the Intellectual Property?
I was thinking more along the lines of the stadium John Brown played for
Never expected to see the words “Ibrox” and “intellectual” in the same sentence. Well, unless “challenged” was there too. ; )
👍👍👍😄😄😄
I gather the only intellectual property at Ibrox is the Calculator used in Accounts.
They even managed to misuse that as well.
Some historic examples:
0+0=44
1+1+1+1+1+1+1+1=4 in a row
And so on… 🤪
I feel a little uncomfortable seeing Ibrox and intellectual in the same sentence.
How does that fit with the merchandising shambles which is supposed to bring in revenue but thanks to the ‘intellectuals’ on the Ibrox board they may well be looking at an 8 figure bill, not forgetting the £3m they have already paid to Ashley.