Oh dear, these are trying times in the Blue Room.
The Malmo Effect is still extant.
As ever with the club founded by Charles of Normandy, it is advisable to Follow Follow the money.
Yesterday the Sevco High Command were in a dignified conclave.
The Serious Professional gave a presentation and made sure it was fully understood even by the most Junior member of the ensemble.
Indeed, he spoke as he would to a young child or a golden retriever.
As I have previously reported, the failure to reach the promised land of the Champions League means that £20m will have to be found rather sharpish.
Sevco’s highly imaginative Director of Fantasy has been tasked with bringing in that sum through players sales.
Moreover, he has to do that during this window, a tough ask for sure.
I’m told that four agents were approached to get their opinion on the likelihood of shifting players.
The consensus was that the three most sellable assets were
Borna Barišić, Glenn Kamara and Nathan Patterson.
I was surprised that Alfredo didn’t get a look in.
However, the Colombian’s discipline problems and off-field antics meant that he didn’t make the cut.
I’m also told that Mr Hagi was not considered hot property by this well-informed quartet.
The agents concluded that the trio that passed muster could raise a total of around £16m, and that’s the best-case scenario in this depressed market.
If that did happen, then the directors would have less heavy lifting to do.
This background should explain the fantasy interest that has been spoon-fed to some of the more obedient embers of the Stenography Corps.
However, an interesting development is that some of the usual succulent suspects have started to join the vertebrate club when it comes to matters Ibrox.
Apparently, the £25k admission price has lost Sevco a whole lotta love on the sports desks.
Take a bow, DUPman!
Now, if the player sales target is not achieved, then, as the Serious Professional patiently reminded them, the directors will have to stump up.
In fairness, it is something that they have done time and time again since the Off License Putsch of 2015.
Meanwhile, we are being treated to the unedifying sight of Club 1872 eating itself.
Now there is something about a police complaint.
All very sad indeed.
This is mainly about the departure of Mr King and the battle over where certain monies will go.
The club, the football club that is, wants Club 1872 cash to go to them so that they can pay Mr King’s loan.
Conversely, the impecunious convicted criminal in Johannesburg wants the Club 1872 dosh to pay for his shares.
Do you see the problem, dear reader?
Right now, there are two non-negotiable problems currently concentrating minds in the Blue Room:
Hector (£11m) and Mr King (£10m).
What that means, in plain terms, is that if Mr Ross Wilson is some kind of magician, then very little of the desired £20m will be reinvested in Mr Gerrard’s squad.
The third alternative to players sales or further director loans is an unidentified idiot investor.
Of course, that can never be ruled out.
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Let’s not forget that the clubs Kamara and Barasic came from may very well be entitled to a 10% sell on fee….you may also find that some players contracts also include a 10% payment to them if they have not requested the transfer…if they did request it, they lose that % that may be in their contract….so in Kamara’s case 10% to Dundee…not sure who Barasic was bought from and how much…but 10% to them also…Paterson on the other hand would see a percentage dissappear into that almost forgotten set up at the acadamy…can’t remember who was running the Company there?…so the 40% of £16m would suggest £6.4m up front less the deductables could see them left with about £4m plus the savings on wages….£4m just about covers Defoe’s wages for the year!
Hi Phil,
Dont forget the much trumpted 6.75 Million fan share issue that was going to be a game changer…. Seems the gullabillies who were ‘succesfull’ have been sent digital share certs – but how much did this share issue actually raise? Doesnt seem big news at Ibrox anymore…and companies house hasnt any record of new shares being issued?.. Developing Story?
The perfect storm – 3 huge debts looming. HMRC, Dave King and Sports Direct. 11M , 10M and perhaps 8M. I suspect no one will want any of the Rangers Squad in the next 13 days when the transfer door slams shut for 6 months. Big Mike will not want to be paid last as there might be no money left. If all the season ticket money has to go on debt repayment there is no money for wages. If this was a company trading in the City the unions would want to protect the salaries of their workers. It will become pass the parcel and when the music stops. Interesting popcorn time. Two liquidations within a decade?
Rangers will gamble on winning the Prem. Euro Money 22, which will allow them to accumulate more debt for 23
Tradesmen, and Taxmen, Face Painters,Newsagents.by the Back Door. HECTOR PULL THAT PLUG NOW
It seems to me that football today is literally lawless as those charged with supervising the game have simply abandoned their responsibilities. The main thing for me is how Sevco is basically a fraud, in that it has been proved in court that it is a figment of the supporter’s imagination and that is all well and good but they are allowed to trade using another club’s name (almost) and cache. It is almost the ultimate Ponzi scheme in that new money is continually poured into it with no chance of redeeming any of it. If you bought Graceland could you claim to be Elvis resurrected. I appreciate this might not pass legal and see the light of day.
Has this tactic of media puff pieces attaching grossly inflated fantasy valuations to their players ever worked? I mean, even once?
If I was in the market for a used car and saw an advert for a 10 year old Clio asking for £10K I’d just laugh and move on. Surely they cannot be that stupid? What is it they say… the definition of madness is doing the same thing over and over again and expecting different results.
Oh yes the old Mike Ashley money!!! How long has that story been going on. Do You think we will ever get an end amount that they actually have to pay up.
Don’t be silly sevco do what they want ,circa 2012
Phil; it was my understanding that transfer monies were paid in 3 tranches. So even if the £16m transfer value were realized they only would get around £5-6m now?
It’s usually three tranches of 40% 30% 30%.
So a £10m player brings in a £4m cheque immediately on the day of the sale.
Then the other two tranches arrive on the first day of each of the next transfer windows.
However, some transfer fees are paid upfront, but that usually lowers the overall amount.
Just the same as in any business transaction. If you want/need “cash up front”, the buyer will expect a discount in return. Potential buyers will no doubt be aware that this is something of a “distressed sale”, if you will, and will price any bids accordingly.
I was unaware of the fact that sevco owed HMRC 10,000,000, as we know from previous experience,that doesn’t usually end well,the very fact that HMRC hasn’t come after them for previous unpaid debts tells us that,in the eyes of the taxman,the old club is indeed dead,newco fans can stamp their hooves all they like,the truth is out there.
‘a golden retriever’ nice one Phil.
I would be surprised if that trio would bring in anything close to £8m, never mind double that, the agents being rather generous.
I like Patterson personally and wouldn’t mind him in a hoops jersey but he has a way to go. Barisic they might get £4-5m for in a good market but Kamara I couldn’t see go for more than a couple of mill. Neither 3 are regular first team picks maybe because they have increased their squad Size but not Quality.
I still think Morelos will go at some point maybe more of a forced sell, take what they get double it in add-ons when he wins the world cup etc…Maybe the same applies to 2-3 others, pushed out for what they can get to make a small dent on the financial gap.
Big Mike is not going away anytime soon either, that could be another £15m with interest and lawyer fees.
The usual kidology aside I would be surprized if those three could raise half that in the current market. I would put their value at the same as the right back we are trying to sign. The comment on Kamara from Spartak Moscow was interesting and unusually curt. We have no interest in him which shows that someone is trying to create a market when there is apparently none.
All other suppliers’ and legal liabilities aside…
The difference between the HMRC debt and the Dave King debt is,
that HMRC will dispassionately apply to Court to recover any and all overdue monies.
Which is nice. 🙂
I saw an article in today’s Guardian about Derby County: “Derby are on the naughty step for various reasons, including failing to provide audited accounts and defaults in payments to HMRC.” That got me wondering if there are similar rules in Scotland that might apply to the club currently operating out of Ibrox. Shurely not.
Rangers should progress against Alashkert and go through to the group stage of the Europa.
That will help pay the ongoing running costs but King’s loan, HMRC and the eventual Sports Direct claim amounts to a sum which will challenge the current ‘investors’ in the face of the Malmo defeat and the resultant loss of £30m plus from CL qualification.
It’s worth noting that none of the current investors are off the scale billionaires as the Scottish press once hailed a certain Craig Whyte…….as far as I’m aware no one who reported this claim(lie) in their respective papers was ever brought to account and are still peddling their horse shit to the same audience.
Two weeks till the transfer window closes and the Celtic game falls on the 29th August.
I doubt if a buying club would be over the moon to do a deal with Rangers which would see their prospective new asset turn out in a game which could be pivotal in the season ahead not forgetting the possibility of picking up an injury.
Tonight’s game and that forthcoming league clash with the Ibrox outfit will be a good guide as to where this Celtic team is under Ange but there’s no doubt that there is a lot to like about the style of play which he’s introduced.
Joseph, TWICE in your comment you refer to “Rangers”, a club which is in Liquidation. It suits ‘the suits’ in Scottish football to maintain that lie. It’s HUGELY unbecoming of a Celtic supporter, which I trust from many comments you are.
Please bear this in mind; we CANNOT allow the lie of continuity of Rangers FC, it has, like racism, to be CALLED OUT at every juncture.
I see that Gerrard has moved away from the usual football terminology when it comes to transfer market trading
He’s introduced the term ‘recycling’ when it comes to his squad which is a new one on me and is normally linked with waste or rubbish disposal.
Perhaps he should have chosen his words more carefully.
On your bike Morelos or Kent?