When it comes to the financial goings-on at Ibrox, sometimes no news is bad news.
As regular readers will know, Sevco Scotland’s parent company Rangers International Football Club (RIFC), currently have a share issue on offer.
This is significant for two reasons.
Firstly, it was a powerful signal that the directors were maxed out. They have kept the Sevco shitshow on the road by having their soft loans converted to shares. This debt for equity swap operation effectively amounted to donations from emotionally committed fans in the Blue Room.
The share offering was also significant because they had to open the books for potential shareholders.
An Ibrox insider said to me that the reason that there had been very little about this was that it had fallen completely flat.
Indeed, the £6.75m was to conceal the blushes of the Sevco High Command if they didn’t get the amount that they really needed.
I’m told that they were hoping for a sum similar to the RIFC IPO in 2012.
That’s when Charles of Normandy brought in more than £20m.
So how much has actually been raised by this share issue?
The last figure I was told was less than £3m.
One indication that my information was essentially correct was the total radio silence on the issue by the Stenography Corps.
Dear reader, had the share issue been a stonking success, then the Daily Radar would have a special pull out full of gushing pish.
Therefore I was heartened to see this published in Private Eye.
Those London based inveterate dirt diggers care not a jot for the sensitivities of the Ibrox klanbase.
The Eye will go with a story if it is true and in the public interest.
I do realise that this is a strange foreign notion to the intrepid chaps on the sports desks in Glasgow.
For the avoidance of doubt, the process is called “journalism”.
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It may be because I am easily influenced by the media but I can’t help wondering what it might have been like if we had managed to secure eh …Eddie…somebody…as manager. Anybody else?
A few more thousand of their fans to leave at half time booing sevco will work in Celtic’s favour. Sit back with the ice cream and jelly watching the action on your own telly.!
With the RIFC 2020/21 Accounts to the end of June drafted already,
any potential, ‘real’ investor probably wouldn’t get much further than the accumulated losses total since 2012 of c.£100M.
🙂
Silence of the bams
“Silence Of The Succulent Lambs”
Regarding the new club’s intention of not allowing Celtic fans into the bigotdome for the derby, are they afraid or are they conning their support yet again by selling them seats already sold?
How can the S.P.F.L. call this a competition? HH
Apparently Celtic fans are being locked out of Ipox because Celtic could not guarantee a reciprocal amount of tickets for Sevco fans when they next were due to pollute our stadium.
Very simple explanation for the provie check/ Glasgow pawnbrokers fc, once OWNED allways OWNED …instead of accepting that their granny had died ( aka 1872 Oldco)…Lazarus and co, decided to bring in a del bhoy taxidermist and promote their granny to another status , I.e…Newco 2012 crusaders.com , but they forgot that Anderson McGuire were still trading and in competition with Newco , = supplying services to dead perpil
Looking forward to some dignified succulence.
Private Eye did exactly the same in 2011, Phil. I even asked if you were writing articles for them as they were saying what you were. Raised £3 Million? That’s gone already after paying £2.5 for a new Superstar striker from under the nose of some of the biggest clubs in the world.
A bit like Hagi. They were buying for £2m to then punt him on to Real Madrid for £20 in the next window. Unfortunately NO ONE in Madrid was in the loop in this cunning plan.
The signing of Kamara was yet another stunningly brilliant plot. Buy him for £50,000 and move him on to Juventus for £10m. Again, the man from Turin seems oblivious to this fiendishly cunning plan.
The old business theory of, “Buy low, sell high!” works when the seller has a buyer. When he doesn’t……..you get sevco style finances.
Hahaha