Comment on Time to Ditch the Geek Show by Tincks.
upthehoops October 27, 2017 at 16:15
Phil Macgiollabhain saying the Ibrox board have discussed going into Administration with no decision yet made. I know many on here have questioned why they would do that given there is no external debt, but as Phil says it would be a way of getting Pedro’s expensive duds of the books. Would Administration mean the soft loans would have to be written off to pennies in the pound though?
Being a loss making business without a credit line from a bank is sustainable for so long as someone is prepared to cover those losses. Once that support stops then some form of insolvency event is inevitable.
If persons have put that money in on an unsecured basis and the business can’t be made profitable then they are never, ever, going to get their money back.
So, there may come a day when writing off that money, (which has effectively been lost anyway), in order to get hold of a restructured business, (via a CVA), shorn of as much of its cost base as possible, might seem the least worst option.
Tincks Also Commented
It’s the almost desperate pathological need of both the English and Scottish FA’s to protect their own that is so striking to me.
The twist for the Scottish FA being that there is a particular immortal “Club” that they include as one of their own.
Time to Ditch the Geek Show
A bit off topic but I’ve put a link below to the BBC’s coverage of the parliamentary hearing into mismanagement of racism allegations by the English FA.
But I am struck that a group of parliamentarians could take information that is in the public domain and so decide to hold a hearing to see if the leadership of the FA is up to the job.
What an extraordinary idea!
If anyone has the time to read Eniola Aluko’s evidence (from 14.30) I can recommend it very highly. Her clarity and eloquence in taking apart the FA, knowing that she is surely ending her international career in it’s prime can only be admired.
“Gasps as Aluko tells MPs FA boss Glenn told her that if she made statement that FA was not institutionally racist, her payment would be made”
Time to Ditch the Geek Show
Many thanks as ever to SFM’s dynamic duo of court reporters. Caped Crusader JC and Boy Wonder EJ.
JC – Good points re Lord B’s role and deliberations in yours of 10.09
In all the on line chatter re the case what caught my eye the most was a series of tweets by James Doleman. To paraphrase, James was saying that he had read Alasdair Lamont’s tweets from Thursday and JD was cautioning that his gut instinct was that Lord B might end up siding with DCK in this matter.
JD was very careful to add caveats but was effectively saying that there might be an outcome to this case that many might find surprising.
Recent Comments by Tincks
Enough is enough
Link to Ranger’s accounts.
Need to dig out last years accounts to double check but I am almost certain that the £6.7m loss is well in excess of the shortfall which was highlighted/anticipated in last years going concern.
On Grounds for Judicial Review
Haven’t commented since the outcome of the Supreme Court appeal. Two reasons really.
Firstly, everything that needs saying about (what should be) the logical outcome of the decision, a review of LNS, title stripping, clear out of the complicit amongst the administrators and about the craven cowardice of the MSM is put far more eloquently than I can by stalwarts such as Auldheid, JC, BP, UTH the Jambos, BRTH and others.
Secondly, I am stunned, just stunned by the attitude of the MSM. The attitude of the “the titles were on the pitch,” and “it’s time to move on” brigade fills me with rage and despair. Do these people have no moral compass? We are talking about industrial scale cheating for over a decade with the authorities complicit by turning a blind eye (that’s the generous interpretation of their action/inaction.)
For sport to be truly sport it has to be played on a level field with the rules applied equally to all. It’s not just that some in the MSM won’t acknowledge the rule breaking its that some seem to carry a knowing smirk on their faces.
Ready to chip a few quid into the judicial review pot as and when needed.
Time for Scots Government to Take Bull by the Horns
goosygoosy July 18, 2017 at 14:21
The Road Ahead
An excellent summary.
The Lost Voice of the Armageddon Virus
I know that there are naysayers out there, (both sides of the border) in respect of the standard of Scottish football but the achievements of Celtic this season are worth a mention.
An undefeated domestic treble is a momentous feat. There are an awful lot of European leagues dominated by just the one or two teams but how often do others achieve such a record?
Putting together a run of this nature requires more than just talent. From my vantage point here in Essex what has impressed me the most is the sheer relentless drive and professionalism of BR and his squad.
THAT Debate, and the Beauty of Hindsight
In their last two matches fans of TRFC have twice entered the field of play. On the first occasion an attempt was made to attack the captain of the visiting opposition.
What do the rules say about this – can clubs face sanction? What if any statement has been made by the footballing authorities regarding these incidents?