The Way it Works

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I would guess most people who frequent this site have …

Comment on The Way it Works by Den.

I would guess most people who frequent this site have been on the Original Randomthoughts blog by Paul McConville. If not do on to it as there is so much good information.

Paul was an extremely talented writer who was always entertaining as well as informative.

I had my reservations about the comments that followed his excellent blogs, especially the later blogs, so latterly I skipped the comments.

It didn’t stop me enjoying Paul’s blogs although I felt that his good work was somewhat undone by the more extreme comments that followed.

Den Also Commented

The Way it Works
John Clark

Nailed it. How can an established investor walk blindly into a public shambles and then say they didn’t know about the onerous contracts. They are in every spivs toolkit and while Laxey may not be spivs they must rub shoulders with them all the time and should be aware of their tendencies.

I wonder what kind of response you will get.


The Way it Works
“How can a club that has burned through so much money, had to take loans to complete last season and which is saddled with a board that has so far shown no signs of any ability to raise much needed investment, afford the luxury of a part-time, £200k a year finance consultant?

“Ibrox is crumbling, Murray Park is crumbling, almost every area of the club, on and off the pitch, needs investment, revenues are down and yet we are seeing a part-time consultant take
home at least £200k a year. It’s ridiculous.”

Chris Graham

——————————————————————–

That lad is quick on the uptake !

Of course people like CG were part of the problem, they fell in behind anyone in power at Ibrox and allowed the whole thing to happen.


The Way it Works
Phil’s latest blog is well worth a look. It gives context to some of the things that people on here have commented on.

The IPO was a surprise to me. I couldn’t believe that City professionals would “invest” in that shambles. Notably the fans didn’t “invest” in great numbers, proves they are not that stupid.

Two years on GW is in the City trying to sell a much diminished project to people who have seen the previous investment bomb and probably careers ended. I almost sympathise with him, but not quite.

They are left to issue about £4m worth of shares and these must be to existing shareholders.

A £4m issue is tiny and most companies would not consider it because the costs of advisers and middlemen is much higher proportionately for £4m than for £400m.

They are talking of underwriting the issue, the underwriters will take hefty fees for that, if they do it at all.

So, even allowing for the issue being fully taken up they will be lucky to get £3m, that will only allow the crisis to continue but not let them build anything.

I suppose that I am pessimistic about their prospects.


Recent Comments by Den

Sweet Little Lies
The article did note that there was no image of the new kit.

Like all things Ibrox it is huge, until it ends in tears.

Why put out an announcement on Sunday morning, most of which was known, and not even have an image of the product. 

Did Sports Direct pass on their opportunity to match the deal or will they hold fire and then demolish it in court.

On the bright side, it will be ready for the 150th anniversary, in 2162.  

 

 


Sweet Little Lies
Paddy Malarkey.

Your sources are correct and the statement will be released at given time.

It is a lengthy document that outlines the feelings if the Board and also their next steps.

A leaked summary is as follows.

Since the disgraceful and democratic and legal demolition of our dignafied (sic) resolution by a large majority, our board has met to consider our dignafied response. It runs to 632 dignafied and indignant pages.

The board will deliver the statement to the SPFL tomorrow; by brick.

In essence.

"We will scream and scream until we make ourselves sick".

No change there.

 

 

 


Celtic’s Questions to Answer
"As long as it is legal"

That is ok for the common herd but, this is Sevco, why should they be constrained by rules/ laws, why start now ?


To Comply or not to Comply ?
The SFA have had enough time to frame the charges in a manner that keeps themselves out of it. Judging by the LNS inquiry they will also have a way out for Rangers. 
Of course there was a lot of crossover between Rangers and SFA so individuals cannot be charged for wrongdoing. 
I wonder if charges could be laid against Sevco for their response. The last paragraph directly questions the integrity of the governing body.
Let’s see the previous agreements between the club and the SFA. 


To Comply or not to Comply ?
Tomorrow’s press conference should be interesting, but probably another deflection from the people who gushed about a secured term loan as an overdraft facility.
How complicit of the media to hold any questions until tomorrow. Of course they may not have been given the questions yet.
There may be some new information tomorrow but I expect another Smoke and mirrors production.


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