Sevco, being in a legal dispute regarding a commercial contract they signed, is one of those reassuring constants in life.
As regular readers will know, this litigation from the administrators of the Elite Sports Group Ltd was expected.
Here are the details.
I think it is fair to say that Sevco’s dignified clientele aren’t taking the news well.
Well, at least this chap seems to be hoping against hope a
That, finally, the eleven-year-old club must win one of these legal tussles.
What is hard to quantify is the ongoing reputational damage to the Ibrox brand.
So many of Sevco’s erstwhile commercial partners have ended up in court against them.
I really do feel for that nice Mr Bisgrove as he tries to negotiate with the next lucky winner.
£9.5m?
That gotta hurt!
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#OffTheScales
I also hope that Sevco have kept money back to repay the Covid loan they got from the Government.
Any news from the Sydney Super Cup !!!!
When do they have their day in court ??
Just as well the banter years are over eh
How does having to set aside Contingent Liabilities of £9.5m plus costs with Elite then potentially similar with Hummel impact on UEFA FSR and the granting of a license to play in European Competitions?
Could Elite make a case for sevco causing them to enter administration and seek further damages and reparations?
I’m sure a good contract lawyer could, but I think it would need to be the administrator who brought it forward.
They’ve been in more courts than Andy Murray these last few years lol
This will play out for a couple of years so no immediate impact IMO.
Mr Beale of course has a great budget to spend on whichever interchangeable word he is currently using for buying new players.
Players rated in the tens of millions bracket on free transfers. Sometimes you get a star most of the time you get a duffer.
I think Celtic will win the league this weekend with rangers losing at Aberdeen, goal difference and all that albeit mathematically possible. A loss to the Dons going into a cup semi though….!
Point taken Paulo, apologies Grant, I jumped to the conclusion you were talking about liquidation, my mistake.
It’s amazing that the kit sales saga is still doing the rounds.
Given that the Ibrox club has been punting more shares on the market to meet the day to day running of the club should be a huge worry for all concerned.
If indeed they are being sued for £8m then only player/players sales is their route to raise the cash unless they dip into next year’s Season Ticket income which only pushes the problems down the road.
Good to see the Scottish media all over this, aye right! They know perfectly well the questions they should be asking but appear not to be going near the issue therefore leaving their readership in the dark.
The Daily Ranger has described the possible 12 players exiting Ibrox, this summer as “The Dirty Dozen”.
I didn’t read the article but believe Beale, forced to admit he is “fussy”, is said to be looking for 12 “Apostles” to replace them.
The klan are wondering where there money has gone. Did any of them wonder where it was coming from the last 9 yrs or so?
I would not be astonished( lol) if they were to repay the loans , 6% interest AS well as issuing the shares. We all know the shares are worthless except to have some control in running the clumpany.
I just can’t imagine these wealthy sevco owners keep putting their personal wealth in all the time – anything they are putting into the klub they will be betting paid in kind from another source which will at very least be in the shadows. There’s a real story there for someone to make a name for themselves, perhaps they feel its not worth the risk to them or their loved ones?
phil
long one sorry but looking to clear up some points or maybe you can as a esteemed journalist
1 am i right that hummell and elite are two separate legal entities as elite are in admin and hummel are not
2 in 2020 sevco had a case v hummel for asking for 2.8 mill re replica shirt sales money they said was owed to them
3 As elite are in admin do rangers have any registered claims with the administrators that they are a creditor in the admin
4 do rangers have a counter claim in the elite case
5 What seasons did the elite deal cover and when was their deal suspended so how much of the 3 season ( i think) did they lose income from
6 the info elite got access to yesterday was it the info held at rangers about shirt sales via sports direct or other?
7 Are there any legal proceeding between hummel and rangers at this stage or have they settled
it would be great if you could inform us all of this as it would crystalise a lot about this claim
All good questions and deserving of further investigation.
First off, here are the ones I can answer right away:
(1) Hummel is trading normally.
(7) I have been in contact with the Hummel press office in Denmark about this. I would not be surprised if they are watching this case closely. They had a three-year deal, and the third year was taken from them. That, prima facie, seems to suggest that they have a case.
Any potential sponsors of FC Clusterfuck must be thinking, “Is it really worth the inevitable hassle of an eventual court case?”
The words inevitable and eventual are interchangeable in the above sentence.
No one at Sevco seems able to get their head around the fact that commercial contracts are LEGALLY BINDING agreements, usually for a set period of time.
Who in their right mind would sign a five year agreement with someone incapable of planning beyond, or even seeing beyond the next pay day.
Any potential sponsors of FC Clusterfuck must be thinking, “Is it really worth the inevitable hassle of an eventual court case?”
The words inevitable and eventual are interchangeable in the above sentence.
No one at Sevco seems able to get their head around the fact that commercial contracts are LEGALLY BINDING agreements, usually for a set period of time.
Who in their right mind would sign a five year agreement with someone incapable of planning beyond, or even seeing beyond the next pay day.
Twice??
Am I losing it?
Am I losing it??
Anyone else noticed it’s went all quiet on the pie eating Moreorless front?
And the circus goes on .
Sadly no Scottish club dare take issue with all the shenanigans that the good ship Sevco always seem to be embroiled in .
They are an absolute scar on Scottish Football.
It would be better without them and all the baggage and garbage that follows them
Alas the so called custodians of Scottish football feel the need for a pretendygers or 50000 angry bears monies are lost to the game no more feeding the friends they’ve made on their journey from liquidation to starting from the bottom as new clubs do n working their way back to where they have never been by their actions and inactions the custodians have left our game no better than wwe a shamtastic show of entertainment
Elite have played a “blinder”. (Love that old phrase).
Court case figures based on Castore first year sales.
The klan went “all in” that strip launch as according to DRecord, Ashley was not involved with them.
If I recall, they charged 55 quid for a child’s school pullover, with the butterfly logo….5quid without in asda.
WATP!
We Aren’t The Plaintiff !
🙂
Just couldn’t write the script…
Another year @ The comedy club. Est..2012.
Ice cream n jelly the gift that keeps on giving, life is a lesson where you learn from your mistakes or you’re destined to keep making the same mistakes pretendygers and angry bears until they accept the true meaning of liquidation they’ll continue to be haunted by oldco sevco may end up follow following deadco straight to the box file next door to oldco
“Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” – Otto von Bismarck
It’s a pity Sevco and Rangers are the “same club” or they could have learned from them…😜
400 million shares at 25p each should cover it.
…and the double whammy of the COVID payment the received.
Would be great to know what the terms are for the other clubs who received this payment .
Maybe the auditors in the SNP financial case might find out before anyone else!
“Must be due a win…”????
They’re not games, idiot, they’re court cases and Sevco have as much chance of winning one as they have of lifting the big cup – nane!
Remember their tax case court appearances and appeals / counter appeals with HMRC, think there were five in total? The one that counts is the final judgement of course which found against them… however their fanatics told themselves it wisnae fair cos ‘the score was 3-2 to them?
Shocking (no longer surprising) levels of delusion
You saved me from saying that Seppington!
Rangers must wish that Judges could be as sympathetic to them as certain referees and VAR officials appear to be.
I take it the Aussies are still wanting their pound of flesh for Sevco dropping out of last summer’s tournament
They are – maybe. Sevco’s latest annual report says the Aussies might take legal action but they’ve not yet served a writ.
Perhaps it’s time Sevco got themselves a season ticket for the defendant’s box at the Court of Session?
Gotta hurt indeed. And such a lovely thing to happen again to Sevco.
It can’t happen AGAIN Grant, this is a brand new club.
It CAN happen again Edward, if Grant was talking about Sevco court cases…….