tlg1903 Posted February 9, 2018 Share Posted February 9, 2018 Tick tock... Quote Link to comment Share on other sites More sharing options...
Jute Posted February 9, 2018 Share Posted February 9, 2018 The huns have secured a £3Million loan from Close Brothers. Sevco directors have had enough of shelling out millions to keep The Rangers going. Close brothers rates of interest are usually very high. Also means no mainstream bank would touch them. Quote Link to comment Share on other sites More sharing options...
baggy89 Posted February 9, 2018 Share Posted February 9, 2018 They offer essentially invoice finance and factoring, I'm sure. So I assumed a similar agreement to the Ticketus thing... "Here's £3 million now we'll take the first £3.XX million of the season ticket money in July." I suppose the the the sevco fans will find out come renewal time... Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 11, 2018 Share Posted February 11, 2018 Graeme Murty: "The fans have been through a great deal at this football club recently Not half as much as the fans from the other clubs have had to deal with regarding the Scottish Football Media obsession regarding these scum. Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 16, 2018 Share Posted February 16, 2018 Sevco reject forth Alfredo Morelos bid from Beijing Renhe worth around £9million as two South American sides enter the race What a load of shit being banded around regarding Alfredo Morelos. First they unsettle the player with this crap then report clubs are queuing up to spend millions for him which sevco do not need as they are under no pressure financially to sell him. Everyone knows sevco are in last chance saloon and they are trying to auction Morelos to the highest bidder to raise much needed cash. Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 19, 2018 Share Posted February 19, 2018 Notice now that Sevco are in second place on goal difference the Scottish media are now saying that a title race is now on between the Ugly sisters. On another note the DR is reporting that Chinese have not come in with another big money offer for Alfredo Morelos Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 19, 2018 Share Posted February 19, 2018 The Rangers directors enjoy salary hike despite club posting rising losses.The overall pay packages of the of The Rangers’ two executive directors has risen by more than £60,000 in total on the year before, while the club made a net loss of £6.7 million last season. They have to recoup their loans given to the club from somewhere. Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 22, 2018 Share Posted February 22, 2018 In addition, to Edminston house and the albion car park, Close Brothers now have a charge over the stadium PA system, the large stadium screens, stadium catering equipment and stadium wifi equipment. The total security pledged against the 3m loan now stands at slightly over 5.5m in assets. Sevco are paying 4% more than Close's standard onerous loan terms. King's statement on how much money they have seems to be slightly in doubt. Quote Link to comment Share on other sites More sharing options...
RicoS321 Posted February 22, 2018 Share Posted February 22, 2018 King's statement on how much money they have seems to be slightly in doubt. Far are ye getting yer quotes? Quote Link to comment Share on other sites More sharing options...
Ten Caat Posted February 22, 2018 Share Posted February 22, 2018 Far are ye getting yer quotes? Phil MacGhiollabhain and JohnJames websites Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 23, 2018 Share Posted February 23, 2018 Far are ye getting yer quotes? Something to read over your cornflakes https://beta.companieshouse.gov.uk/company/SC425159/charges/mLBWBxLf49wYxVpcq5n1pX_hCbE Quote Link to comment Share on other sites More sharing options...
RicoS321 Posted February 23, 2018 Share Posted February 23, 2018 Something to read over your cornflakes https://beta.companieshouse.gov.uk/company/SC425159/charges/mLBWBxLf49wYxVpcq5n1pX_hCbE Very interesting, cheers. You can see, over the years, the splatterings of their shady deals going through where everything was bought on credit and leased back to the them. It's safe to assume that was the other way in which the spivs took them to the cleaners on their way back by purchasing each individual asset and leasing it back to the club. Safe to say that what they are doing now is trading insolvently. Quote Link to comment Share on other sites More sharing options...
Slim Posted February 23, 2018 Share Posted February 23, 2018 Huns borrowing money from someone called Benedict O’Mahoney Quote Link to comment Share on other sites More sharing options...
BigAl Posted February 23, 2018 Share Posted February 23, 2018 Huns borrowing money from someone called Benedict O’Mahoney I saw that name as a witness to one of the documents and thought exactly the same as you Slim Fucking classic Quote Link to comment Share on other sites More sharing options...
donsdaft Posted February 23, 2018 Share Posted February 23, 2018 I gave up keeping a close watch ages ago ( I know I know, they rely on that) What I want to know is, why, when the openly pretend to be the same entity as the old club, does the taxman not come after them for the old clubs debts? I know the real answer to the question is "because we're in Scotland" but that's not an acceptable answer really. Quote Link to comment Share on other sites More sharing options...
RicoS321 Posted February 23, 2018 Share Posted February 23, 2018 I know the real answer to the question is "because we're in Scotland" but that's not an acceptable answer really. Nope, it's because we're in the UK. This is bigger than just Rangers not paying their taxes. Pheonix companies are useful to donors who wish them to remain available. Rangers are just fucking it up for everyone else by making such a public shambles of their corruption, which should really stay behind doors. Quote Link to comment Share on other sites More sharing options...
Ten Caat Posted February 23, 2018 Share Posted February 23, 2018 What I want to know is, why, when the openly pretend to be the same entity as the old club, does the taxman not come after them for the old clubs debts? Quite simply because the taxman knows it isn't the same entity so doing so would be futile. The "same club" myth has been fomented by a corrupt SFA/SPFL and aided by a compliant media. This should have been challenged at the time Charles Green suddenly declared sevco to be the same club as the one which was liquidated a few months previous, and which played its first league game in Division 3 (live on TV ffs) as "The Rangers". Why they were subsequently allowed to drop the "The" is up for debate but the ruling bodies must have okayed it and the sevconian hordes then rewrote history, claiming at every turn that oldco went into administration (they NEVER mention the L word) and claim to have been "demoted" when in fact they were admitted into Division 3 ahead of other clubs with a full history and better claims......those newco c@nts should have started in the West juniors bottom division. Quote Link to comment Share on other sites More sharing options...
donsdaft Posted February 23, 2018 Share Posted February 23, 2018 After a couple of seasons of just playing friendlies against local pubs, to make sure that they could regularly fied a full team. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted February 28, 2018 Share Posted February 28, 2018 King loses his appeal over the courts ruling he had to make Sevco shareholders an offer for their shares, which would cost him 11m. Quote Link to comment Share on other sites More sharing options...
RicoS321 Posted February 28, 2018 Share Posted February 28, 2018 Thank god he's a fit and proper person though, otherwise the huns could have been in the shite. Quote Link to comment Share on other sites More sharing options...
Lencarl Posted February 28, 2018 Share Posted February 28, 2018 King has said before he has no money to buy these shares. All his funds are in his wife's name only. He can always get a £11 million pound loan to buy said shares. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted February 28, 2018 Share Posted February 28, 2018 King supposedly sanctioned 1m for Murphy to quicken the admin event to avoid this whole scenario but the other board members blocked it. What will he do now the transfer window is shut? Quote Link to comment Share on other sites More sharing options...
Ten Caat Posted February 28, 2018 Share Posted February 28, 2018 I'd guess he will fuck off back to South Africa sharpish, never to return. Sevco will be left to the mercy of the remaining board members, none of whom seem willing to commit serious cash to refloat a sinking ship. Probably another share issue will be offered in the summer......it's success or failure will either see sevco stumble on mounting up ever increasing debts for 2-3 more years or lead to admin before the start of next season. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted February 28, 2018 Share Posted February 28, 2018 I'd guess he will fuck off back to South Africa sharpish, never to return. Sevco will be left to the mercy of the remaining board members, none of whom seem willing to commit serious cash to refloat a sinking ship. Probably another share issue will be offered in the summer......it's success or failure will either see sevco stumble on mounting up ever increasing debts for 2-3 more years or lead to admin before the start of next season. no doubt. But, considering the palaver the last time, why the fuck have the SFA/SPFL not stepped in long before now? Not having audited accounts, within which they've not once broken even, common knowledge they're taking soft loan upon soft loan while giving the likes of Bruno Alves (and more) a ridiculous wage, not to mention Ibronx is in huge need of repair, estimated at 20m. Hope they die (again), but for the authorities to not have stepped in on this is ridiculous as no doubt more SPFL clubs will be left out of pocket as the huns go bust again. Quote Link to comment Share on other sites More sharing options...
Ten Caat Posted February 28, 2018 Share Posted February 28, 2018 SFA/SPFL will never act as they are complicit in the whole resurrection from the dead myth that all sevconians peddle.....once sevco go bust there is a chance the truth might emerge as to what role the ruling bodies played in offfering every assistance to the newco including trying to shoehorn the new entity into the Championship ( Division 1 as it was known as then) and rejecting the claims of clubs in both the Highland and East of Scotland leagues to join the senior league system in favour of a brand new entity. Only once these skeletons are released from the Hampden cupboard will we see a single body formed out of the ashes of those 2 corrupt self serving institutions. One hopefully that acts in the best interests of all the clubs rather than the 2 largest clubs based in Glasgow. Quote Link to comment Share on other sites More sharing options...
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