I just learned that the “No Surrender” fraternity in the Blue Room has effectively capitulated to Big Mike.
I’m told that they asked their legal team to go away and come up with a ballpark figure of what Sports Direct will ask the High Court in London to impose on the basket of assets.
My source stated to me that this was a clear indication that opposing Ashley on this one was no longer an option for Sevco.
Once he has the documents that he asked for then he can present an unanswerable case to the judge.
Consequently, the Sevco High Command have asked their lawyers to tell them what the bill is likely to be.
I’ve now been steered in the “definitely above ten million” territory.
My information is that the estimate from the lawyer could be with the Dignified Ones as early as tomorrow.
For the avoidance of doubt, Sports Direct will state their figure to the court and it is for the Judge to rule on that.
However, what is undeniable is that even Sevco will have to comply with such a ruling.
It is very difficult to see that this will not drop in 2022.
The brotherhood will be working overtime on any ruling against Sevco,and with their many branches will delay any payment until the last moments.This is Scotland,and the countries team that we’re talking about.Sevco have many bills,but none are being pursued to close them down.The FA would have put them out of business,but let’s remember how they pursued MA through their parliamentary sources.Don’t write them off,as they have people in high places who need to protect their passage to grand masters
They will wait until the judge gives a figure then appeal trying to get it reduced and kicking the can down the road again.
Even the BBC reporting this now. Must be serious! We’re I a championship club looking for players, I might see good value in the south of Glasgow. Surely deflated prices will be the order of the day.
Maybe just morelos left by February.
If that was the same report I read, they mentioned a 7 figure sum ie less than £10m.
I guess its just a softening up process and they don’t wish to hit the bears with all the good news at once. 😉
Phil is right the Ibrox Board step up time and again – in my view there is zero chance of any liquidity events. Further, there is 30m champions league money sitting there – this solves all their problems for a year. They will roll the dice it worked in stopping ten. They are 7 points ahead and COVID could stop play I think they will gamble and at this point I think the gamble will pay off…. Unless Celtic beat them Jan 2 … it’s a must win if Celtic have any chance in my view to win the league. If Celtic lost, the Ibrox Board can even afford to sell players and still win the league. Celtic are in a tough place unless they win.
Good news that for our board now they don’t need to back ange they will let rangers live once again
There’s no game on January 2nd, the Winter break has been brought forward because of the Omicron outbreak.
Ashley isn’t the only one with an axe to grind. Elite/Hummel were done out of income by the injunction which came about thanks to the failure to allow Ashley a chance to match the deal.
Oh Dear, that will be wee Haji away then!
What if big mike made a move on kings shares. At 15 p a pop he then , took control of the club, dropped the charge but. Took payment’s in installments and voted a sub contractor. Sports ware firm. as he. Owns most of them , also stated should they go out the game and they came back in any form. He is made shirt manufacturer for 20 years made in writing failing that payment of 15 million paid within 14 day’s
The club don’t own Kings shares to offer them to Ashley.
Do you actually think he would take 15p a share when he still trying to 20p off club1872
Why would Mike Ashley want to buy Sevco? It’s a loss-making business that’s flrting with insolvency. Ashley’s been trying to get out of the football business for a few years now and has just got shot of Newcastle. It’s unlikely he’d go back. And even more unlikely he’d buy into a toxic club that’s riddled with serious problems. Who needs that grief?
Ashley is trying to teach the Glib and Shameless Liar a lesson. That’s one of the reasons for the court action. He’s not going to do him a favour by buying the GASL’s shares. Unless of course he got them for much, much less than King paid for them and could quickly sell them on to a mug for a tasty profit. The big problem with that is finding someone with money that’s stupid enough to buy into Sevco – a loss-making business that’s flrting with insolvency and riddled with serious problems.
By the way, I doubt Ashley will force Sevco to go bust. His best interest will be to keep the Sevco shitshow limping along with itttle money from merchandising because almost all of that goes to Sports Direct.
Yeah sure, I will believe it when I read it in the MSM.
That’s EXACTLY what the original Rangers FC supporters said in the run up to Valentine’s Day, 2012.
That was a – potential – learning experience for Ibrox, yet here we are again!
Which is nice. 🙂
The sum total of hee haw has been learned from 2012.
Zilch.
Nada.
Nowt.
The Golden Eagle must be ready to shit again.
Please let this be the final nail in their coffin.
Oh and as an aside Phil…
I read the full judgement you provided the other day…and the amount of detail blew me away.
I often wondered what Judges did behind closed doors…( Apart from that )….Now I know.
He deserves his money.
C’mon Big Mike.
“Please let this be the final nail in their coffin”.
Highly unlikely.
Sevco High Command has stepped up again and again.
However, the money that is eventually paid to Sports Direct cannot be spent on players as well.
Based on your speculation that the sum may be North of £10 million pounds…Surely that’s step too far…. even for the Sevco High Command….?
The chaps in the Blue Room have sunk many multiples of that since 2015 in order to keep the lights on.
One point, it wasn’t my “speculation”, it was the result of a briefing from an impeccably placed source.
But not in one go? Maybe being optimistic, but £15M for nothing would be a bitter pill
My only observation is that the final bill would inevitably take away from GVB’s player budget.
If this bill is added onto this year’s accounts and they post massive losses again. Would they be able to get a European license? Surely their losses for the previous 3 years would bar them
This will not just take away from their spend budget it will make the sales of some of the current squad more urgent. Prospective buyers will know this and drive a really hard bargain.
Regarding your first paragraph…
I thought that a sum North of £10 million was not one that had been easily found before…in one fell swoop.
With regards to your second paragraph…
Mea culpa….I will pay close attention to my words from now on.
Thank you.
Cumulative losses of £100m and counting. Liquidation v2.0 awaits for Sevco.
Not if directors continue to cover the losses.
The SFA and MSM still pretend Rangers FC (in liquidation) never got that final nail in the coffin. It’ll be the same story when Sevco eventually go bust. Shortly before that happens Donald Park will be selling his buses to buy scratchcards and lottery tickets.
How rude of Big Mike!
Can he not just wait until The Rangers has won the Champions’ League – and they’ll then have some spare cash to pay him off?
Roll on the January window, with CFC buying players – and The Rangers will be desperately trying to sell players, again.
🙂
It was already a given that at least 2 key players would have to go in January to keep the lights on in the new year.
Make that 3 if Big Mike’s Bill is anywhere near the £10m being quoted.