Comment on Where now for the Judicial Panel Protocol? by redetin.
September 7, 2012 at 16:24
As some have already touched on re: financing Sevco’s working capital requirements over the season.
Can anyone confirm if Sevco now has ‘normal’ relations with a high street bank – including overdraft and loan facilities ?
Assuming not, then would a proposed share issue not lose credibility before it has even started within the City ?
The short sellers who specialise in sub-markets like AIM will be all over this share. There is much money to be made from a share issue that dives.
Where now for the Judicial Panel Protocol?
john clarke says:
September 7, 2012 at 20:44
September 7, 2012 at 20:16
‘..There is much money to be made from a share issue that dives.’
I don’t doubt it . But how?
Short selling is well established and legal, and is just the converse of the normal long selling that most investors, ie, buy a share at one price and sell it at a higher price, the difference being the profit.
A short seller sells shares (which he does not yet own) to a broker at a given price. Money goes into the sellers account. The share price falls. The short seller then buys the required number of shares and money leaves the account. The difference between selling and buying is the profit.
Just google brokers for short selling.
It Is Better To Offer No Excuse Than A Bad One
It seems clear to me that any employed person will consider any offer of a new job. So is it any surprise that?:
“Derek McInnes will give full consideration to any offers he may receive in the future…” [Herald]
But in the Herald case this becomes some kind of “admission” with the headline: “Derek McInnes admits he will consider offers in future”
The Sunday Herald goes one better than its sister rag: “McInnes open to offers” screams the front page. “After Rangers snub, Dons boss won’t rule out quitting club”. A snub? He might quit? There’s hope here yet for the scribblers. And the Sport pages offer readers the contorted “McInnes open to listening to offers”.
Now how did we get from this simple statement, that any prudent person would adopt, namely, considering the merits of any future job offer, to this mangled Herald version of events?
Enough is enough
Contrary to the CVA Proposal of 29th May 2012, the “business and assets” were sold to Sevco Scotland, as noted by Homunculus & others. The assets were listed as follows.
4.11 The assets of the Company, listed at Schedule 6, currently consist of:
Ibrox; Murray Park; The other heritable properties and leasehold interests of the Company; The Player Contracts; The SFA Membership; The Company‘s share in the SPL; The Goodwill and intellectual property rights; Stock, plant and equipment and cash at bank; Amounts owed to the Company (other than the Player Transfer Fees); The High Court Proceedings; and The Player Transfer Fees.
Nowhere in the CVA are the terms trophies and titles mentioned.
How is it that:
(1) The silverware and other artifacts in the trophy room were sold without any value being considered.
(2) I would imagine that the selling of “titles” would be forbidden. How is it that footballing authorities have allowed their titles to be sold or passed on to another entity.
Consulting my Wee Red Book, I see that the re-named Airdrieonians honours only start in 2003. Airdrie United didn’t claim the titles and trophies of the 1878-2002 club, nor of Clydebank. I wonder where the trophies of the two defunct clubs ended up?
Has there been any official comment or discussion on the selling of titles to Sevco Scotland, or is this buried in the 5-way agreement?
Time to Ditch the Geek Show
zerotolerance1903October 29, 2017 at 12:56
“McInnes is not daft. He’s onto a good thing at Aberdeen and he surely knows that Sevco is a basket case.”
To which I would add that if MacInnes turns down a Sevco approach, the latter is going to take it as a serious slap in the face cos no-one turns down The Rangers. Watch the media spin that one!
McInnes will surely ponder on the near certainty of European football, hopefully for the next few seasons; on the uncertainty of life in the The Rangers seat, following “fill yer boots” McCoist, McDowall, McCall, Warburton, Murty, Caixinha, Murty; and on the debt-ridden state of “the club”.
Unless McInnes is totally blind to the The Rangers financial position, then he’d want a pretty tightly written contract. He’ll also want to know what transfer money is available. Success with the current fractured squad is unlikely.
Time to Ditch the Geek Show
Scotland v Netherlands at Pittodrie. And another slap in the face for Dons fans when not one Aberdeen player is picked for the team?
The Vice Closes
For those not on twitter————- SPFL News Now@SPFLNewsNow9hWho will get to 55 league titles first?—————SPFL News Now@SPFLNewsNow1hReplying to @hoop1888The oldco is still going through the liquidation process, newco was formed and granted Status and was allowed to transfer history etc, fact.—————-Apparently you can transfer history now.
And, incidentally, there is a body somewhere who can “allow” history, which seems to include titles & trophies to be transferred.
The transfer of titles needs explanation by the authority who is custodian of those titles, either the league (now SPFL) or the association (SFA).