Armed Forces Day is always good for a laugh at the stadium John Brown played for.
Of course, it’s all pretend.
In this century, the British Army has been involved in two major conflicts, Afghanistan and Iraq.
On both occasions, they were defeated in the field and not by heavily equipped modern armies but by militias full of men who believed in what they were fighting for.
Please don’t take my word for it.
In his book, Frank Ledwidge, an ex-British officer, shreds the very notion of British military competence in the 21st century.
Think of them as a Sevco of NATO.
The Royal Navy was the biggest in the world at the time of the infamous Church and Nation Committee report into the Irish in Scotland (1923).
Now, comically, it has more admirals than ships, and the RAF is mainly dependent on President Trump’s continuing goodwill for spare parts.
No doubt the King’s lads were greeted as heroes at the Deludamol Arena yesterday.
It surprised absolutely no one that Barry’s lads capitulated.
Perhaps they have some conscientious objection to winning home games days.
A few plucky Bears stayed to the end to verbally abuse Barry’s Gumtree Galacticos.
However, most of the home crowd had shown the Dunkirk Spirit and left the stadium that John Brown played for.
The plucky Brits on those bombarded beaches in 1940 had, as military experts would term it, their arses handed to them.
Defeated in the field, they clambered aboard ships and abandoned a fortune in military equipment to their victorious enemy.
Bankrupt and lacking essential equipment, the Brits had to go to Washington to beg for help.
However, Uncle Sam wanted to see the colour of their money, especially since they had defaulted on their World War One debts in 1934.
The Americans demanded payment in gold and securities in exchange for weapons.
Consequently, vast quantities of British gold were transferred to Fort Knox via Canada.
For details on this amazing piece of WW2 history, see Alfred Draper’s Operation Fish (1979).
Then, there wasn’t anything shiny to send to Uncle Sam.
By January 1941, Henry Morgenthau, Roosevelt’s Treasury Secretary, explained to the US Senate’s Foreign Relations Committee that Britain had no money to buy any further armaments and supplies from America.
In their hour of existential desperation, the Brits were forced to reveal their most closely guarded financial secrets to prove just how bankrupt they were.
If you paid tax in Britain up until 2006 (I know, I know), then you were paying off that wartime debt.
In an echo of those times, many in the Ibrox klanbase are pinning their hopes on an American bailout.
If it happens, the new owners will want to take out more than they put in.
Any hope that they are benefactors waiting in the wings is risible.
The key terms in the coming period will be “due diligence”.
I understand that this process is in the very early stages, and the potential new owners want a substantial amount of detailed information about the Ibrox operation.
This, dear reader, is where it gets very interesting.
For example, I have been told by a very trusted source that the Stateside folks have asked for up-to-date financials for this year so far.
They also want a list of ALL liabilities.
Indeed, just last week, these putative Stateside saviours told the Sevco High Command that they would use their own people to assess the state of the training ground and the stadium.
I understand this was communicated to the Blue Room last Thursday (27th February).
This degree of outside forensic scrutiny hasn’t been in the Big House since Big Mike had his guys there a decade ago.
It is worth recalling that this 49er media storm started with a briefing given on an Off-The-Radar basis.
Moreover, it was stated that negotiations were “at an advanced stage”.
I’m afraid I cannot concur with the characterisation of the talks.
Only a few days ago, I was told it was at the “expression of interest” stage and nothing more.
In many ways, this is the perfect Sevco story when, yet again, their season is a bust.
There is the tantalising prospect of moonbeams and, finally, putting Timmy in his place.
Inevitably, the world exclusive was light on detail in a “Brexit Means Brexit” sort of way.
Well, whatever you’re having yourself!
Over a decade ago, Graham Wallace conducted his 120-day review of the new club’s operation.
One term that emerged was “Onerous Contracts”.
For example, here is a list of detailed questions I asked the Sevco Press Office about them in June 2014.
Perhaps in another part of the Fitba Multiverse, this journalist in Ireland has just given up and decided that he cannot work the Ibrox story.
Alternatively, the local media started fulfilling their Fourth Estate function, obviating any need for an Irish outsider with a press card.
As I reported at the time, some of those legally binding agreements that so irked Graham Wallace were set to last 20 years.
It remains to be seen if they are still in force (I believe some of them remain extant), and 2032 is still a bit away.
In a plot twist worthy of a season finale on Netflix, could Charles of Normandy have a vicarious role in the Yanks Doing Walking Away?
Without American money in 1940, the Brits would have had to stop fighting.
If this Stateside consortium decides they don’t like what is seen under the hood, then HMS Sevco will have to surrender to sustainability.
The alternative would see them scuttled.
Personally, I want the basket of assets to survive as a rusting hulk on the Clyde for target practice.
This might be a strange, belated, or downright stupid question, Phil.
However I’m fairly sure that either you or someone else can give me an answer. The first time I heard of the new UEFA financial rules, was when I read about them on this site. I assumed that the 70% of football related income that can be spent on wages, related entirely to players wages. Does it? Or does it relate to the wages of all club employees?
Only asking because someone asked me and I had, still have, no idea!! I’d never actually thought about it!!
FSR covers all football staff
What stops the 49ers or anyone buying say Leeds who get into English premier league then buying a Scottish club say like sevco and changing Leeds name to ramgers* ……it’s only a name after all and that mob will follow the rangers* name (not club). Just a thought.
I would hope that the Americans have plenty of bean counters to confirm the gazillions of shares issued by the big house. I’ve got some magic beans for sale. I’m doing due diligence with them. Got to check I’ll be paid. It would be too much to hope that Charles of Normandy was behind the takeover.
Is it true they’re going to fit holy water fonts at the ibrox turnstiles,you have to bless yourself on the way in and out,God bless they’re wee blue socks
So the latest now from Scottish news & sports media is that the deal with the 49ers has been agreed “in principle” so whatever that may mean, there were also reports recently that is Leeds don’t get promoted to Premier League then the deal would be off automatically.
I wonder how the SF49ers feel about hatred of Catholics and how it might impact on their commercial identity.
The sectarian aspect will be glossed over as being only”banter” from a bygone time. The Americans will not even notice it for what it is ……….as sectarianism we happily tolerate and in fact exploit for business and profit in these country…..it doesn’t exist over there Believe me when I try and explain how backward and Neanderthal society remains over here I’m sure my US friends and family think I’m exaggerating .Once the business is done the Rangers Leadership,the fans and the SFA will just double down on it in the same way the did when they could have changed the narrative after the administration event
If you call it what it actually is RACISM then I’m sure they would understand!!
No they wouldn’t.They would just consider I was having to word play to try and make a point
Leeds haven’t exactly been signing the mbappes of the football World so sevconians shouldn’t get carried away
Any Catholic, practising or not, with even a passing knowledge of Scotland and the entity trading as Rangers FC would not go near them. They must have zero clue about what they are purchasing and think it’s just another football club like Leeds United, which is either wilful ignorance or rank stupidity. If the York family are devoutly Catholic as is reported they should be backing out of any deal before they are sat in the Struth Main and subject to their full anti Catholic repertoire.
Couple of questions:
1) Personally I think this takeover has been fabricated, to potentially encourage the clan to purchase season tickets. Your thoughts?
2) Given UEFA Financial Fair Play rules, I am unsure how a takeover, financially speaking, helps Sevco. A takeover may illicit another share issue, allowing them to transfer all loans to shares, before the buyout. Your thoughts?
3) The £3m worth of shares purchased within 24 hours of the buyout being disclosed, is this a new investor or is this inside(r) trading?
4) This is really the most important question that I have. Historically the Kelly’s and White’s had Celtic, I would suggest it was through historical / sentiment / tradition. McCann, the man….say no more. Big Dermot, COVID season apart has been exemplar.
Both FM and DD….Celtic men no doubt.
What do the 49’s get out of Sevco, apart from a toxic fan base?
The only answer I can find, if the takeover is not bollox, is that Sevco will be taking loan players from Leeds, giving them access to European experience, all for the benefit of LUFC.
5) I would appreciate your thoughts on my last comment. If this takeover is, as I believe, fabricated for season ticket sales, then how close must Sevco International We Really Are The Same Rangers FC, from their accounts declaring a going concern warning?
All good questions.
I think the interest from the cosortium IS genuine.
However, it would be fololish to dismiss the due diligence process as no biggie.
It is worth remembering that exactly a decade ago Newcastle United had five loan players at Sevco with the order that the had to play if fit and available.
As the accumulated RIFC losses approached – and then flew past the £100M mark –
I always thought it was just a matter of time when deliberately crashing the bus into
Administration would be more appealing – or the only option – to drop its debts and
disastrous Balance Sheet?
Could any of these ‘onerous contracts’ survive an Admin. event?
Regardless: would expect that any independent assessment would be quick and to the point. Run!
🙂
It’s seems that an American consortium of investors have heard about how gullible a certain number of peepul are.
Like everyone else including
Green,Whyte, big Mike and even the cheeky chappie McCoist, they want take take take money out of Ibrokes.
There’s a ‘be careful what you wish for’ feeling about this takeover and no investors are going to live up to the fantasy ambitions of the klan.
Without any meaningful investment though, the deady bears will be forever in our shadow. HH
So many losers on one pitch.
Have you heard that the York family, who own the 49ers are particularly Catholic? They describe themselves as philanthropists, but all of their charitable donations are specifically to Catholic charities. Maybe a wee dossier, outlining the natavist culture at Ibrox might be enough to scare them off. If you have such a dossier, Phil, it might be worth educating the York family on the nature of the business. Their spreadsheet should be enough to scare them. The culture would definitely make them apprehensive about getting involved with them.
That lot would take donations from the Vatican to survive..
Many of their philanthropic ventures ARE Catholic, but many are multi-denominational.
They mostly concentrate on educational matters. Mind you, they’d have their work cut out trying to educate the toxic fanbase at the Dome of Debt!!
As you say, the American businessmen are in it for profit. I wonder if asset stripping would be one of their avenues of exploration? Assuming of course that there are many assets to strip.
I honestly don’t think there would be enough assets to justify the hassle if these guys are seriously wealthy individuals. The stadium?? It’s hardly in a prime building area. I can’t comment on Edminston House, or whatever it’s called because I don’t know enough about it, but unless it can be used for something as it stands, or be easily repurposed, the same would apply to that
Sevconites are gonna embarrass themselves again with ‘Yanks Go Home’ banners when it goes pear shaped (again).
It seems from the info you have gathered so far Phil , the chances of Gordon Gekko taking on this shit-show tribute act would be slim indeed, more Blue- Crash Airlines than ‘BlueStar Airlines.📉
Does ALL liabilities include Tavpen, super Jack Butland and big cyriel dessert.
When Keef Jackson came out with the blue version of the alleged American interest, he staunchly made it sound like a deal was imminent. The went on to say that the information he had was that these were serious people, with serious money.
Time will tell I suppose but if I was a betting man, I wouldn’t be having a bet on it HH
Regardless of the identity new owner they will not be charitable benefactors.
And that, Phil, is the hammer striking the nail fairly and squarely on the head.
For the life of me, I cannot see what’s in this for any investors wanting a return for their money. There are no quick fixes for Sevco. They’re at a permanent financial disadvantage to Celtic because of the stadium size, and could only rectify this by redeveloping the Crumbledome to something considerable bigger, and the costs involved in that would be enormous.
Turning Sevco around, is going to be a bit like trying to turn a supertanker in a burn.
Plus, UEFA’s new financial rules are a complete game changer for anyone wanting to buy a club as a status symbol or plaything.They put an end to wealthy individuals/groups, taking over a club, and doing a Chelsea or a Man City.
Absolutely. Skysports news have been talking it up today. My X feed is full of rangers fans getting extremely excited about it. Not like them to carried away with themselves. It will definitely be interesting to see how this all pans out HH
Phil as always on point,don’t know what us plebs would do for accurate information without your insight (and trusted sources) into all this confusing pish that the msm throws at us, keep up the good work
Thanks for all your efforts
John, many thanks.
Actually the Plebians were what made the Roman Republic strong.
It was deranged Trumpian emperors who led to the fall.
I’m afraid I disagree , I want them gone permanently, they are a poison not just in football but in society however I will settle for a long terminal decline that leaves them on a par with Pollok Juniors . Just a quick quote on gold from JP Morgan “gold is money , everything else is credit” pity Gordon Brown sold half the UK reserves for a pittance
Pity little Engerlend didn’t keep the Scot as P.M instead of 5 Tory Brexit car-crash the economy test-dummies resulting in the serious nationalist ‘pickle’ that little Engerlend is in….. “Taking back stupidity” more than ever “Taking back control”…. Irony & all that.
Thomas, it was a pittance in the same sense that Craig Whyte is a billionaire and Sevco is the “same club” as the now liquidated Rangers FC. The gold was sold for $3.5B or theresabouts. Which was the market price at that time.
The UK government spends ~$10B every day: roughly three times that. Those gold reserves would only have kept the lights on for a few hours.
If i know my yank mates properly, if the putative new owners get all the info they need, American-based Phils will be able to easily find out what the info is – this could be a hoot and three-quarters xxx (keep doing what you do pal)
I don’t want them going bust, much better they survive for us to use as a sort of footballing punchbag, helping to keep us fit for big games.
Phil,as a person,I never want you to give up,many will see as an enemy, your never that, simply stating the truth,and facts,Never Falter,I can’t ,speak,or read the Gaelic,take care my friend.
Does ALL liabilities include Tavpen, super Jack Butland and big cyriel dessert.