Past the Event Horizon

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Poll: ‘Would you say sex is better or worse with the occasional inexplicable rash and embarrassing visit to your GP?’

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Past the Event Horizon
Para Handy says: (26)
December 22, 2013 at 10:33 pm
16 0 Rate This

The last time someone did real due diligence on a club/company/team/entity playing at Ibrox they were vilified by the fans and walked away muttering about a £10 M hole in the accounts.
£££££££££
If I remember correctly, Bill Miller’s due dillegence revealed that there was a £30m black hole in the accounts, based on SPL participation and income.
Players had been granted freedom to move at the end of the season in return for s reduction in salary, this alone cost newco between £9 – £15m.
There is no doubt that the failure to live within their means during administration made them a busted flush, hence the absence of any credible offer pre liquidation. Wallace is correct to be baffled by the £10k per week being paid to some of the first team, as for the executive salaries…
Look for jack spinning the virtue of austerity through his chums in the press, Ally picking lots of U20s and the ‘Europe in three years’ expectations being dampened by ‘reality check’ articles.


Past the Event Horizon
Jack’s sanitary work on RM continues apace. Boycotts have now been removed from the bears den and put into ‘boardroom’.
Meanwhile, from a free scan of the press, courtesy of Morrison’s, sevco fans are practically being begged not to boycott, the whiff of desperation suggests that sevco are closer to rock bottom than even the shambolic AGM inferred.
There also appears to be contradictory messages being given to Dave King. On the one hand there is ‘…no intention to meet him’ on the other ‘his investment would be welcome’
Can anyone explain the non-intervention of Kieron ‘under the hood’ Prior? Now that he’s crunched the numbers surely he has something to say about the sevco shenanigans?
Did the board report on their investigation into Media House’s ‘John Greig’ comments?
Has Mr Wallace realised that sevco is just an act of ever decreasing circles?
For the outside AGM:
For those for whom a floating pitch, retractable roof, 2000 room hotel, a casino and European cup was not enough, a simple tent is good enough.


Past the Event Horizon
Why was the AGM held outside? Where was the rangers man who offered to pay for the Hydro? Now that the dust is beginning to settle on 120 days of inactivity it becomes ever clearer that the two most significant things are:
The board retained the services of Stockbridge, despite his less than useless performance to date.
The shareholders don’t trust the board with a further share issue.
Who in the press is willing to ask questions about sevco?


Recent Comments by davythelotion

A Sanity Clause for Xmas?
justshatered says:
December 23, 2014 at 11:04 pm
%%%%%
Many football rules are unenforceable. In the sense that you can’t make clubs field their best teams, you can’t make clubs try to win a game, you can’t make players ‘not cheat’, you can’t make officials ‘perform, to the best of their ability, in an impartial way.
When it comes to ownership, the same owner can have more than one horse in the same race, the same garage can have more than one car in F1 races, the same sponsor can be represented by more than one club in the same competition.
Why have rules?
To ensure that the paying public see genuine competition and not the corporately desired, most lucrative outcome. The rules ensure genuine competition.
Ashley owning rangers lock, stock & gazebo has no influence on the integrity of competition.
Why doesn’t he make his move for 30%?
Why doesn’t he underwrite the £8m offer (thereby becoming de facto owner)?
Why did MASH vote against No 9?
Because he’s not an idiot. He wants the schmutter, he’s got it.
The rest is just smoke and mirrors. Nobody knows who owns Ibrox & Murray Park, the SFA can insist on knowing the names of the beneficial owners behind Margherita and Blue Pitch Holdings, why are they so reluctant?
The AGM was a big circus in a very small tent.


A spectre is haunting Scottish Football
James Doleman says:
December 16, 2014 at 3:01 am
%%%%%%%
The penny drops, yet the notion that paying +£750 000 pa to AMcC for managing a ‘Champions League team’goes to the heart of the problem.
If I buy longer trousers it doesn’t make me taller.
Ally didn’t manage a champions league team, he didn’t manage an SPL team, he managed a 3rd division team that couldn’t win the Ramsden’s.
The SMSM has constantly trumpeted the chorus that supporters wouldn’t join ‘the journey’ if The Rangers lived within their means. When Chuck got Ally to sign his unread contract the club were debt free with money in the bank. Two years later they are mortgaged to the hilt and the income stream is a trickle. Yet players, who presumably had a quick shuftie at their contracts, are on five figure weekly wages. At the same time people who receive low five figures per year are receiving redundancy.
A McA’s replacement will be on a vastly reduced wage but they will have an incredibly difficult task.


A spectre is haunting Scottish Football
120 day review highlights rapid burn of cash via onerous contracts
£3.3M raised via share issue
Car park & Eddie House redeemed
Car park & Eddie House rehawked
Nomad bails
Arrests
Accounts detailing Retail arrangements
CW picked up
Redundancies
Ally gives 12 month notice
CW newspaper interview
Palmerston
Players’ Christmas party
Company confirms resignation of manager and return to normal pay
Hacks repeatedly claiming MA will buy club as a European advertising masterstroke.
£12M needed to see out the season
MA & club charged by SFA.

When so many things come together it’s rarely an accident.


A spectre is haunting Scottish Football
I expect Ally will be receiving lots of letters, open and private, reminding him of friendships and favours.
The subtext appears to be that Ally knows where the bodies are and who put them there. It would appear that none of the current regime can afford to provoke Ally, hence the ridiculous 12 notice period.
As for the AGM, MA may decide to underwrite a share issue (with the agreement of the SFA) but will anyone in their right mind take a punt on a diluted share in a company like this? They couldn’t raise £4m at the last one.
My guess is that when the Court turns it’s full glare on sevco etc, the only person smelling of roses will be Craig.


A spectre is haunting Scottish Football
Graham Spiers has resorted to the theory, aired on here some time ago, that Ashley was going to use rangers as an advertising vehicle to promote the expansion of Sports Direct into Europe.
This kind of straw clutching was treated contemptuously by Cosgrove.
If Mike Ashley wanted to promote his brand via rangers why would he close the shop in Belfast?
MA wants to make money. Ally knows that the days of marble, five star hotels, high wages and onerous contracts are over.
This transfer window will be one way. ‘Living within your means’ is the only show in town.


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