Regular readers will be aware that I ran a series of stories in 2015 and 2016 about the state of Ibrox Stadium.
At the time, the usual succulent suspects derided my reporting as wishful imaginings.
Despite the fact that there was some prima facie evidence at the time to be concerned.
As I have learned over the past decade or more, when I point out an immutable truth to the Ibrox klanbase, they are easily convinced to believe the opposite by their brogue-wearing betters in the Blue Room.
I stated at the time that there were safety issues with Ibrox stadium.
Well, today, Stewart Robertson stated that my journalism was accurate, but then I already knew that.
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In 2016, I submitted a Freedom of Information request to Glasgow City Council to move this story on.
They sent me heavily redacted documents as I was able to ascertain that there had been an emergency meeting of the Safety Advisory Group (SAG) specifically to discuss Ibrox Stadium.
What is undeniable is that there is a PR offensive being waged by the Sevco High Command.
The question to ask is:
Why?
My information is that the RIFC accounts are now complete.
Let’s just say, and I’m guessing, that there is something in those accounts that the Ibrox klanbase might find disheartening, unacceptable or even alarming.
To be clear, I’m speculating on the reasons for this flurry of fluffy interviews.
However, I can spot a PR campaign at a distance.
Apparently, so can at least some of Sevco’s delightful customers.
Dear reader, it is worth remembering that the year-end accounts of any company are the best possible presentation.
I have no idea what has spooked the brethren in the Blue Room.
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As you say, a real PR job to prepare the peepul for what can only be seriously bad news, IS DEFINITELY on the go. AND not just for this year’s accounts, for NEXT year as well.
Today’s comments about the CL money being greatly exaggerated, and really only going to be worth about £8m to them, can only be aimed at next year. That money won’t feature in this year’s accounts. Their AGM is probably still 6-7 weeks away and to be starting the softening up campaign this early does NOT point to a happy gathering of orcs.
Last year’s financial results were made public on the 5th November 2021, so not long to wait for the last 12 months. From the outside one would think that the European run, the player sales plus whatever Villa paid for Gerrard would represent a significant profit for the year to 30th June 2022.
Accounts tend to be released shortly before an AGM; how short tends to depend on how bad the news is and keeping the info away from the Revolting People as long as possible.
Legally, it’s quite generous, I think 10 months to file accounts, although in football that delay maybe unacceptable in governance terms, in both Scotland (don’t laugh) and with UEFA.
The problem with the roofs was real , Dave King admitted as much at the time yet the major work to correct the issue was never undertaken. It was suggested that the roofs needed to be removed in order to produce an effective repair and that a temporary move to Hampden would be required. I have been puzzled as to what happened as it conveniently went off the radar . Did they apply a sticking plaster to a gaping wound and kick the can down the road? Were they given a temporary certificate on the understanding that a full repair would be undertaken within a set period of time. This stadium has a history of safety work not being addressed with tragic consequences.
One question on a different topic , it was reported that debt was swapped for equity on a regular basis . Is it possible to have an agreement that this equity would be bought back at a set price at a set time ie: in the event of Charles Green hearing the Champions League anthem ?
I’m no expert but I doubt there’s a right to repurchase equity on behalf of the company, as that would surely constitute a debt and they would need assets to cover that, which they didn’t have and would therefore constitute a going concern risk.
I stand to be corrected but the £100m, or whatever it is, debt that’s been converted to equity will only be paid back through a share purchase and the company doesn’t have that money.
This brings us to the new American investors, who have probably been advised, that they don’t need to pony up this money, just sufficient numbers to gain control and the likes of Parks and Bennett can whistle for “their” money.
Of course, if their advisor is a certain Dave King then they would be advised to engage more trusted and truthful counsel!
Vindicated as you rightly say Phil .
It is puzzling in recent days we have had the media reporting the financial concerns at the home of the holding company and now this surfaces regards the issue you reported years ago .
It’s almost if someone has an agenda against the holding company ,but who would be glib and shameless enough to leak stuff to the press .
Maybe that person wants something from them who knows .
Their is definitely as you say too a PR campaign going on and as we know their accounts are due out soon and their could be bad news that the fans won’t take to kindly too
I’m sure they will be open and transparent with accounts and they will not be sent for a soothing massage before publication .
I’d not like to be the company who are doing the accounts it must not be an easy job
I don’t know how they get a licence for the stadium, the toilets alone in the broomloan aren’t big enough for the crowd, and the space between rows is bad, I’m only 5ft 6 and my knees touch the seats in front.
Re – the lavvy situation, I believe they thought that 10/1 odds were the pan sharing numbers, also the Loving Cup order of piss taking.