A report in today’s Scottish Sun claims that Sevco could be just two weeks away from going into administration.
The exact extent of the financial crisis at the Third Division champions is unknown but with losses of over £1m a month recorded in their first ever accounts it seems only a matter of time before the money runs dry.
Former Finance Director Brian Stockbridge told supporter representatives that the club would be down to it’s final £1m in April with the sale of season tickets needed to keep the players in their luxury lifestyle.
With pay-off’s to Craig Mather, James Traynor and Stockbridge since that announcement it seems that the club could be in administration long before the clocks go forward.
According to the report in the Scottish Sun an insider has alerted the Alternative Investment Market to the extent of the cash crisis.
The paper reports: “RANGERS are at the centre of a financial cover-up investigation over claims the club will be broke within two weeks.
“The stock exchange inquiry was launched after an Ibrox official is alleged to have forecast they would run out of cash by mid-February.
“New chief executive Graham Wallace has assured fans there is no danger of a second plunge into administration — two years after ex-owner Craig Whyte steered the club to its doom.
“But in a complaint to the AIM exchange, a disgruntled investor writes: “It’s the worst-kept secret in Scotland that the club is running out of money in the next few weeks, yet the board has made no announcement.”
“The shareholder says Rangers should have disclosed any projected shortfall under stock market rules. AIM chiefs have vowed to investigate the claims.”
In December, on the day of the club AGM, new chief executive Graham Wallace announced a 120 day review into the finances of the club, last month he sparked concerns after engaging in a conceptional discussion with players over a 15% pay cut which would see some players forced to survive on less than £15,000 per week.
With that offer rejected and no one interested in signing any players during the January transfer window it seems that the club is in meltdown as the second anniversary of Craig Whyte putting Rangers into administration approaches.
Despite being in the job for over a month Wallace reassured various fan groups that the club is in good health with a five year plan for winning the Champions League enough to see off any proposed supporter boycott.
Now it seems likely that the new club is about to follow Rangers into administration with only the continuing support of the SFA likely to prop up a team in blue shirts playing at Ibrox through till the end of the season.
One short term solution would be to stage the final of the League Cup at Ibrox with the SFA already committed to hosting both semi-final’s of the Scottish Cup at the ground.
Sending a £1m plus goodwill gesture to the stricken club would meet with resistance from other clubs and supporters who are already unhappy with the preferential treatment that the Ibrox club has been given
The latest financial crisis is likely to put on hold plans to regenerate the area surrounding Ibrox which include a five star hotel and conference centre, transport hub and raising the capacity of the stadium to 85,000.
OK GUYS ITS FUNTIME
KNOCK KNOCK JOKES ABOUT SEVCO
eg
Knock knock
Whose there
Craigy
Craigy who
Fu*k o*f ahm having a craig whyte
Haw haw haw
RESULTS AT 1130PM
Knock knock
Who’s there
Bigjig
Bigjig who
Big jig who doon at the broo
Haw haw haw
Knock knock
Knock knock
Who’s there
Agga
Agga who
Aggadoodoodoopushpineappleshakeatree
Mwah
I know where you aunt thally is
At Gregg’s
Haw haw haw
hi guy i nearl choked on my lunch yesterday after listening to the news on snide.. jim delahunt was asked what was coming up on the sports program at 2pm .. jim said possibly tongue in cheek, we will have news for the league cup semi between dons and st johnstone, but it was the next thing he said that made me nearly vomit,, but we have the BIG ONE dangers and brechin form ipox THE BIG ONE W T F
Knock knock
who’s there?
the administrators
Just use your keys fae the last time
Knock, knock.
Who’s there?
It’s me Ally, Mr Wallace.
Knock knock…Mr Wallace, knock knock…Mr Wallace, Knock knock, knock knock…….
Hahahaha.
Hawdeehawdeehaw
Movies?
Armageddon
Deep Impact
Now you see me…
Gravity (think about it!!!)
The Taxman Always Rings Twice
Filth
The Walking Dead (o.k.it’s a tv series)
Runner Runner (the Craig Whyte story)
About Time
(Nae) Escape Plan
Escape to defeat
Haw haw haw
Knock knock
Who’s there
Haw haw haw
knock knock
who’s there?
Pollok Juniors
Knock knock- who’s there? –the bulldozer is here to knock doonnnn ibrox. HAIL HAIL THE CELTIC CHAMPIONS TEN IN A ROW.
Knock knock
Who’s there
Ally’s ex wife’s gardener
What the f*c*# do you want
Can ah ave me crabs back I’m making a paste
Too late ave givin um away
Slam
Haw haw haw
RESULTS
Joint third vino and Aldo
Second funky
First DRAWKAB
congratulations drawkcab I present you with a bottle of the finest Peruvian brandy.
Haw haw haw
It’s a fix I tell ye, a fix!!!!
I think its important to remember that Sevco 5088 is an international brand and the SFA will see this as a case of them being too big to fail. The sevconians can go into administration, get deducted 25pts, win the league and not have to pay their bills. Isn’t that their business model? They will then get their sheeple fans to fork out for another share investment. Maybe someone like Mr Gold could come in to save them? We’ve already had Green & Whyte after all. hahahahahahahahahahahahahahahahahahaha!
Charlie Green’s Chateau is white? Naw silly! Charlie Green shat OAN Whyte.
a stadium capacity of 85000 ? are they really insane ?
They are zombies therefore are neither sane or insane
Haw haw haw
How can the SFA allow 2 seni-finals in this ground, this pace is not fit to pass safety rules,
they need a vast amount of money to fix the holes in the stands to stop rain coming in, also they have no catering you have to be bused in again standards not fit, so why have supporters of clubs made to pay these cheats, SFA should be brought to task,
I think it is time to move on it is boring now all celtic fans going on about sevco who cares amongst the celtic support really. We should be more worried about ourselves the lack og quality in the team is obvious and the fans are bored as we saw yesterday it is really time to worry about celtic more than that shower across the city
You are right with your comment,the cheating scumbags are dead. Hail hail the Celtic the Champions.
Simples
Boycott the place of the fallen angel
Haw haw haw
Another comment picked up by my anti-zombie software.
“why can’t you just call us rangers
why keep calling us sevco
it is because of people like you that there are so much between rangers and celtic
people like you should take your sick beliefs and just go and take a run and jump
we don’t call you PACIFIC SHELD DO YOU
YOU IDIOTIC TROUBLE MAKING FOOL”