Towards a More Professional SFA


Mr Keys is strongly against tax avoidance apparently. One wonders why …

Comment on Towards a More Professional SFA by Homunculus.

Mr Keys is strongly against tax avoidance apparently.

One wonders why he doesn’t object to it in relation to Rangers.

Putting that aside, Rangers were never demoted. He knows that as well as anyone else. The current club applied to join a league and were rejected. They applied to another and were accepted. There is nothing even remotely confusing or ambiguous in that. 

Homunculus Also Commented

Towards a More Professional SFA
It is worth bearing in mind that if Mike Ashley takes control of Rangers, or any wealthy businessman takes control of any football club they do not actually “pump money into it”. They provide loans which the club itself then uses to buy players registrations, pay higher salaries, maintain the stadium, or any number of other things.

Look back to Chelsea and Manchester City, there was this assumption that the mega wealthy owners were investing heavily in players and paying higher wages. They weren’t they were providing loans (albeit possibly interest free). Several years ago both clubs converted huge debts into equity. That cleared the debt but there is only so often you can reasonably do that, and you are diluting the other shareholders percentage every time you do.

A sustainable business model with clubs operating within their means is the only way forward, for any club (or business for that matter). Anything else, as has been discussed before, is a hobby.

Manchester City became the latest English Premier League club to clear its long-term debts in anticipation of tougher financial rules being drawn up Uefa, European football’s governing body, after it announced on Wednesday that its Abu Dhabi owner had converted his £305m ($488m) loans into equity.

Sheikh Mansour bin Zayed Al-Nahyan, who bought the club in September 2008, has invested up to £400m to help fund a player spending spree that mirrors Chelsea’s transfer bonanza under Roman Abramovich.

Sheikh Mansour has now pursued the same debt-clearance strategy of the Russian oligarch. Chelsea announced last week that Mr Abramovich had converted his remaining £340m of loans into equity, in a move the club said would help it comply with forthcoming debt regulations.

Towards a More Professional SFA
MARCH 27, 2017 at 22:09 

Answer to Homunculus from DL – King required to purchase all shares.

Also, King claim about 50% take up of offer not accurate:

Thanks for that.

So the real question is why would the holders of worthless shares, with no voting or earning rights not take a payout of £2m. If they had any intention of providing the details required they would have done it before now.

I think talk of this being something and nothing may be a bit off the mark.

The rejection of his appeal was potentially a disaster for Mr King. 

Towards a More Professional SFA
MARCH 27, 2017 at 20:35

I believe Stewart Robertson is the Managing Director, Andrew Dickson is listed as Head Of Football Administration.

I don’t think they actually have a Chairman.

Recent Comments by Homunculus

It Is Better To Offer No Excuse Than A Bad One
He has a logo already

It Is Better To Offer No Excuse Than A Bad One
JANUARY 2, 2018 at 16:03

Not the humility then.

It Is Better To Offer No Excuse Than A Bad One
JANUARY 2, 2018 at 15:37

You guessed, what gave it away.

It Is Better To Offer No Excuse Than A Bad One
Our hero, and he really is a hero is at it again with his self-effacing prose.

“I cover every issue and more often than not you will read it here first. If I were a Superhero and not a mere blogger I would literally champion the oppressed. However as one who believes  that the pen is mightier than the sword I revert to keystrokes. I have never had a tattoo but if I ever decided to go down this route I would choose the Palestinian flag. However as this might offend one of my my best friends, Max in Tel Aviv, I continue to demure.”

I’m assuming he means demur, however he could well be a shy, modest lady. 

The heroism continues

“When it comes to murderers who remain at large this site will continue to hold the most the most odious mass murderer since Pol Pot, Tony Blair, to account. Given half a chance I would fell him with a single head-butt or induce irreparable damage to his frontal lobes with an upward punch to his nose. Suffice to say I have sufficient training in martial arts to make this blow count. People like Blair are immune to the pen. This lily livered pansy deserves the sword.”

Can you guess who it is yet. 

It Is Better To Offer No Excuse Than A Bad One

THE case for retaining Hampden as the home of Scottish football has been dealt a blow after a survey found just 15 per cent of fans were happy to stay put.


The Scottish Football Supporters Association (SFSA) carried out a survey of just under 3,000 of its members and found only a sixth wanted to see major internationals and cup finals staged at Hampden.

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