Full disclosure: I’m gonna miss him.
Particularly his post-match observations, which were for the ages.
Of course, such magical realism doesn’t come cheap.
Someone somehow will have to honour the terms of his contract now that he’s been sacked.
In the meantime, the Stenography Corps remain in the hope business.
They have to massage down the reality of the financial hit and sell that fiction to the Ibrox klanbase.
In fairness, they get help on the pishful thinking front from what is now referred to as “fan media”.
I found this effort particularly touching today:
Firstly, the £1.2m figure was leaked to one of the succulent suspects to essentially counter the narrative that dear Philippe was too expensive to fire.
On a basic salary of £2.6m pa and a contract until 2028, a severance payment covering less than six months didn’t ring true.
So last night, I checked in with a very well-placed source who is in a position to know.
This is what I was sent apropos the cost of canning the baffled Belgian:
“His payoff is £7,150,000”.
Now, for the avoidance of doubt, I have complete faith in the integrity of this source.
Moreover, the person in question has supplied me with solid information on the Ibrox operation for over a decade.
The same source also told me that the club had one calendar year to pay Clement his severance package in full.
It’s just as well that the fitba equivalent of Lend Lease is about to rescue a quintessentially British entity that does not have the fiancé to put up a fight.
At least that’s what the Ibrox klanbase want to believe.
Occasionally, Mr David Cunningham King is a source of veracity.
Here he is in the Sevco Review laying out the basic facts on the Stateside state of play:
Unlike dear Philippe’s post-match observations, Mr King’s statement contains some inconvenient facts that the hope dealers in the local media need to address.
Of course, they won’t, as they’re not in the journalism business.
It is worth noting that Mr King himself was also part of the Clement fantasy project.
Of course, at the start, the local media were hopeful.
The idea of two equally matched “Old Firm” titans is how they see the world.
It’s almost as if they haven’t been paying attention since 2012, and they cannot process any evidence that invalidates that narrative.
Now, dear reader, it would be remiss of me if I didn’t remind you of this one for the ages.
Here is Scott Coyne, for it is he, outside of the stadium John Brown played for, telling Planet Fitba just what a “proven winner” Sevco were getting.
Have a great week!
ADDENDUM
Full disclosure:
I had hoped that the Sevco High Command would get the EBT band back on the road.
This could be hilarious.
It really could!
Correct me if I’m wrong but Sevco best ever revenue last season 118 million. Losses 17 million? What happens in poor trading year?
The £7.1M to be paid within a year – or further, hefty penalty charges to be applied?
That’s a major hit to an already tight cashflow:
defo no player purchases this summer then?
You’d think it would be easier – and a hell of a lot cheaper – to drive sevco into administration and drop [or reduce] the debts – including Phil’s – and maybe start again?
sevco II – and the SFA/SPFL would surely be as accommodating as ever…?
The club that keeps on giving. Who’d a thunk it . The return of the EBT(eers). Don’t mention HMRC. The talk of the living dead on the ALLEGED American link up, a done deal THEY claim, has caused me to conclude that they are munching something stronger than DELUDOMOL,! Could it be KETAMINE, or possibly FENTANYL? Or Mexican toad licking even.
Clement, for all his bluff & bluster, always struck me as someone trying to do his best in an ever changing situation.
He was clearly promised more than he received.
He had two main objectives, get the big wages off the payroll & rebuild the player trading model (buy low, sell high).
The main obstacle to the former was that he had too many players on contracts they would never find elsewhere, or if they agreed to move on it was with hefty compensation and no money incoming. The latter failed because he ended up with two distinct groups, a high paid, injury prone group nearing the twilight of their careers & a less well paid, mostly younger group of ‘projects’. Throw into that mix a number of reckless ‘loan to buy’ signings, which effectively ties up future transfer spend on a player who could injured or just not work out, must’ve left Clement in an ever decreasing spiral.
The start of this season was disastrous. Cantwell’s antics, Hagi’s contract putting him out of contention. But the biggest failure was on the board. Having to start a CL qualifying campaign at Hampden, the constant uncertainty hanging over when/if they’ll be back at Ibrox before Xmas created a huge disconnect between Clement, the fans & the board. If this had happened at any other Scottish club (but especially Celtic) the media would have had a feeding frenzy, not in this case though.
Clement’s contract extension could be seen as a response to a threat to quit.
Now, saddled with a 7.5 Million payout, they’ve brought in The Apprentices, who will be Project Leader? How much are they paying them? Or is this an audition?
There can be only one……
I’m sure BBC will be complaining of staff decimations on Sportscene studio 🥸
BBC will be furious to lose 75% of their intellectual impartial sat regulars, surely they wont replace them with ANYONE with less empathy for The Newco??
Whilst anything Dave King says should not be taken as gospel truth here’s hoping that all the takeover spin is just that, once again Sevco pinning all their hopes on outside finance coming into the club, To them it’s only other clubs that should be forced to live within their means is not for them, they don’t do slow and steady rebuilds as that means trophies slipping through the net and they can’t be having that. The klan seem to think that if any takeover does happen it’s back to the days of spend,spend,spend they haven’t learned any lessons from liquidation and refuse to consider the UEFA sustainability regulations that would surely come into play. The Interim EBT lads should provide a laugh for the next few months all the same.
There is a real urgency for Dave King to offload his shares as by my reckoning he’s had over 1% control of the Club wiped out since 2023 in the subsequent Share Issues.
His hope was Club 1872 would buy them up at a tidy wee sum but that has failed to materialise as the take up has been slow.
In 2016 Club 1872 had around 7 million Shares which equated to 5% of the overall shareholding,now in 2025 they have purchased over 23.5 million shares which with the constants debt for equity swaps has seen them hover around the 5% shareholding.
That’s how bad the dilution has been.
That aside the current Market Cap is around £28.74m so where they are getting figures north of £100m is frankly beyond me.
The 49’ers won’t have to break the Bank to get control Should imagine that some of the current Investors will want out pronto before it gets any worse and a £7.5m hit on top of their current losses might be the last straw for those who took a punt.
When did the “ Cold Shoulder “ expire ?
There are now in the region of HALF A BILLION Sevco/Pretendygers shares out there. I read in the 49ers takeover frenzy that the club will be valued at around the £150m mark. That would make the shares worth in the region of 0.3p each. Yet they’ve just sold 18 odd million for 25p each – EIGHTY THREE TIMES there actual worth.
Now, IF, this takeover does happen, and the recent buyer sells his shares at the real value, that is one helluva hit to take
In normal circumstances, if someone paid well over the odds for shares in a company, and then sold them at the real price shortly afterwards, the financial authorities would be all over it like a rash, looking for evidence of money laundering. However, this is Sevco, and nothing is normal !!
As of close of trading today the current Market Cap is approximately £28.74m.
That’s the actual value of the Company.
No one is going to be overpaying for shares that are let’s be honest here not worth the paper they are printed on.
This Company has had no less than 27 separate Share Issues in a decade.
All that writing off of Debt has finally caught up with them.
My guess is they will buy out those who wish to end the cycle of dilution and then focus on perhaps getting a return on their Investment long term.
In the previous Share Issues in December not one of the top Investors took the offer up.
Only Club 1872 purchased £250k worth.
The question remains who bought the other £4.5m “worth” of shares?
You’re both wrong.
(a) 150M price for 500M shares does not equal 0.3p per share. You’re out by a factor of approx 100. For nice round numbers sake, round the half a billion down to 450M. Then its 150M pounds for 450M shares or 150 pounds for 450 shares. Dividing by 150 gives one pound for three shares or 33p per share.
(b) An enterprise can only have a “market cap” when it has shares tradeable on a market. Rangers shares are not sellable or buyable on any market. Therefore no such market cap exists. Its a valid question to ask what is a share in Rangers worth. The answer is the intersection of what a buyer is willing to pay for it, and what the seller is willing to sell it for. We have no idea what that number is, but it probably differs per share owner depending on just how staunch the share holder is.
My apologies. I was about to rebuke you, until I realised that for some reason, unknown even to myself, I did the calculations in pennies rather than pounds!
Wholly understandable 😂
U.K. Investing dot com
Market Cap £28.74m
I did a quick check on that website and I found nothing of relevance. Maybe I need to setup an account on it to access what you’re seeing. I’m not that interested in finding out because my point stands regardless. There is no market where their shares are traded, so nobody knows for sure what the true market value of a share is. Without that, any estimation of market cap is just that, an estimation.
So saying their estimated market cap is 28.74M may or may not be accurate, but its more accurate than saying their market cap is 28.74M.
@Matt It’s there on the main search page in the Key Statistics Section.
I agree that until they are actually back trading on the AIM under tighter Regulation (Whatever happened to the search for a new NOMAD appointment ?) then it’s really up to whoever is on intent on purchasing them but the reality is they have had so many internal equity swaps now the value of each share has been diluted to a point where major shareholders are having their control deminished as a result of them.
Dave King has lost just over 1% control in the past 12 months alone.
If you take Club 1872 as an example of this they had a 5% Share in the Company with 7m Shares in 2016.
Now in 2025 (27 Seperate Issues later) they have purchased a total of 23.5m Shares and have a total of 5% overall share in the business.
That’s a 235% increase in shares to achieve standing still effectively.
Only a complete mug would look at that and think yep I’m going to pony up the same price as those who are fully committed by means of prior investment and who have been buying them up to keep this shambles/business running at a loss.
These guys are no mugs btw.
This is a company after all who haven’t turned a penny in profit in 12 years and despite full stadiums, reaching the latter rounds of one of Europes top Competition on several occasions,selling key assets are still having to rely on internal investment (via these equity swaps) to keep the lights on.
I think whoever runs that site has obviously taken everything into account and come to a conservative and realistic valuation.
Otherwise you would assume the current Board would be holding them to account for seriously undervaluing their Company surely?
It is my opinion the longer the proposed takeover is dragged out the more desperate those who wish to get out will become.
The dilution of their shareholding is very real unless they are the ones forced into taking them up.
I found it interesting that in the previous uptake in December only Club 1872 in the top 10 Investors actually took the offer up.
Has the well run dry?
Tale of two 500 game captains
macgregor 24 titles for his 500 games, team worth £100+m
Tavenier 3 titles! Team worth just £20m
It’s 505m shares is it not.?
You missed out the hoverpitch, my bad, wrong club.
These appointments are nothing more than the season ticket desperados aka four lads had an HMRscream.
I’ll definitely miss filip flop , His last interview when He said the players were all on their own islands was a classic.
As for the new staunch management team, it just gets funnier and funnier
Apparently wee Bazza turned up today in an orange Ranger pick up truck
How’s that ? For Uber Staunchness
ST will go through the broken roof
Staunch points went through the roof with that. Did he arrive in the brown brogues?
Out here in Thailand the Ford Ranger/Wildtrack are described as shades of ‘Gold’ metalic only mention of orange is ‘cyber orange stitching’ inside!!
Being stitched up should come as no surprise that bought into the shares and dreams.
If and when he actually gets what’s owing somebody should be checking that the income tax due having been deducted at source is indeed forwarded to HMRC. Hopefully HMRC will look closely at payments due.
Swapping an ex Brugge/Monaco manager for an ex Clyde/Alloa manager kind of tells its own story even if it is til seasons end . Jose Mourinho must be ******* himself . The recent addition of the assistant from Morocco must be questioning what he’s doing there . The whole 49ers debacle has a ring of Beijing Rehne about it but if it gets those STs renewed it’s all good. A quick look on followfollow and the loyal ain’t buying into wee Bazza despite the staunchness of his credentials , one even suggested a gofundme to bring back Clement .
Barry Ferguson!!!! Dear God!!!!! You really couldn’t make this stuff up!! And a backroom staff that looks like a sportscene studio + MacGregor!! It would astound me if they had a collective IQ of 200!!
I mean, what the actual fuck!! There’s a cheap option and there’s…….. this!!
Sportscene studio brilliance
The Old Firm is no more, end of!!!
Get a grip, died thirteen years ago
I’ll miss him. His Caixinha-esque post match stuff was always highly entertaining.
There is no alleged investment for the deady bears because the klan say it is a fact and have already pin pointed how the massive warchest should be spent. World class players, managers and coaches will be banging on the gates of the big hoose, which will have been extended and upgraded, to become part of the rainjurs.
The letters FSR mean nothing to the Gullibillies and they think we are quaking in our footie boots, but when anyone does a deep dive into the Ibrokes institution they usually walk on by.
Dream on Billy. HH
That’s a sore one for Kris Boyd, could they not match his “commentator” salary? Financially, Barry Ferguson and Neil McCann are a great match for sevco and their history since the 2012 inception. These appointments feel like a real statement of détente.
Wee Barry, and a few EBT cheats till the end of the season. Never saw that coming but even if you put their combined managerial experience together, they still fall short of the Brendan Rodgers quality.
He could be looking at making it 10 in a row of rangers managers by the end of the season ha ha.
Rangers are a shambles and the fan base are praying that the yanks are coming. Celtic fans that I know couldn’t give a toss about the proposed takeover talk. Personally I think we should welcome the challenge and enjoy the ride. It could be interesting HH
Let’s hope it all ends in EBTears. I’ll get my coat.
What are the chances of a Sevco administration if supporters start refusing to purchase tickets.? Probably more than a 49ers takeover &,B2 Spirit Stealth bomber ‘flyover’ confirming the deal.
Highly unlikely.
Costs are being cut and will continue to be driven down.
What is lend lease
“Lend Lease” that would be a bitter pill (no laughing) for the fan base to swallow if that is the case.
So money would effectively be given to them and they would no longer own the stadium or Murray Park but have to essentially pay rent. At the rate they are burning through cash that is a recipe for disaster.
A supporters bus for a management team,
Nae bread, & circuses.
The interim choices will supply instant staunchness, to get the Berz dander up. Then they’ll play matches & reality will stupefy them.
We should just enjoy the spectacle.
Herewego a hunner in a row!!! 😄
Will sevco compensate the bbc for poaching sportscene staff
Brilliant 👏
Is that 7+ Million for Clement alone or him and his team?
Is this why 18m in share confequity was announced last week?
Got to start somewhere I suppose.
Unrelated Brendan.
Lights On confetti as promised in the accounts.
7 million quid aaaaaargh. No wonder the Glib and Shameless One is desperate to Touchdown rather than Jet-In
Glibby needs a fakeover so he can cash out, the other soft loans to stock holders are praying for it too!