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New Sevco chief helped Manchester City to world record losses

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Soccer - UEFA Europa League - Round of 32 - Second Leg - Manchester City v FC Porto - Etihad StadiumNew Sevco chief Graham Wallace can already claim a world record- he helped Manchester City announce a world record loss of £197m for the 2010/11 season.

While Garry Cook made the big decisions as Chief Executive Wallace was left to face the music as the club announced it’s financial results after a massive spending spree under manager Roberto Mancini.

“Our losses, which we predicted as part of our accelerated investment strategy, will not be repeated on this scale in the future,” Wallace explained in November 2011. “These financial results represent the bottoming out of financial losses at Manchester City before the club is able to move towards a more sustainable position in all aspects of its operations in the years ahead.

“As we undertake the club’s commercial transformation, we are cognisant of the incoming Uefa financial fair play regulations and consequently we continue to maintain positive and ongoing dialogue with all appropriate football authorities.”

Shortly after that announcement Wallace left Manchester City.

The appointment of the heavyweight chief executive is another blow to the Ibrox rebels hoping to take over at next months first ever AGM.

Led by the dynamic duo of Paul and Malcolm ‘golden chinos’ Murray the rebels have been given public backing by a small but vociferous group of supporters but have found little in the way of shareholder backing.

On Wednesday of this week Laxey Holdings from the Isle of Man secured an 11% share in the troubled company and indicated to their media managers that they will be backing the current regime.

With support drifting away from the rebels the SFA should be spared the difficult moment of refusing Paul Murray a place on the board since he was a director of Rangers in the twelve months prior to the club going into liquidation.

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0 comments

  • paranidandroid says:

    It looks like sevco have all the ingredients for an attempt at another world record. Let’s hope they get it.

  • jimbo102 says:

    This gets better and better. Laxey holdings, a hedge fund, with the ability to keep its members SECRET.
    with the sole purpose of making big profits for their investment. Charlie Chuckles and Googly Eyes couldnt possibly have anything to do with this hedge fund, could they?????
    Hmmm! Wonder if Wallace has been brought in to ” bottom” this club out, might be difficult though as they’ve had the “arse” ripped out them for the past 2 years.
    keep the boot on the throat
    hail hail

  • Jason the Tim says:

    Omg does this saga not stop lol, i for one cant wait to see what transpires next… who is in charge of the Laxey holdings i really would love it to be chuckles and googly eyes lol HH

  • peter says:

    jimbo,
    very amusing but true.
    I wouldn’t be surprised if messrs. green, whyte and ahmed are having one hell
    of a party in green’s french chateau.paid for by deluded huns.
    these 3 musketeers have laxative holdings
    margaritta pizza holdings and bluetooth
    holdings in their back pocket.
    googly eyes latest appointment,the big
    heavyhole bouncer,will keep order at their
    agm.
    Meanwhile,the 3 spivs will.be sipping
    champagne,as their agm toddles along,
    laughing about when’s the (simply) best
    time to.put the Huns out of MISERY !!

    Soon the END (again) is NIGH for the
    DARK FORCES !!!!!

  • Andybhoy says:

    Got to say I couldn’t care less about the Ibrox circus today after the miscarriage of justice that took place in Amsterdam last night.

    Overwhelming video evidence of indiscriminate attacks and excessive violence used on Celtic fans by Dutch police was casually passed off as proportionate by the Dutch judge. The apparent altering of police statements to incriminate the defendants was conveniently ignored and the lack of anything in the way of evidence to support the Dutch police’s version of events didn’t seem to matter to the judge of this kangaroo court as he handed down a verdict that had been decided long before this sham of a trial had even started.

    This was nothing more than a show trial masquerading as a legitimate legal process. It was a shameful damage limitation PR exercise to enable the Dutch legal system to scapegoat Celtic fans in a desperate attempt to protect Amsterdam’s tourist friendly image and make excuses for the behaviour of a police force that is wildly out of control and are no better than the vile Ajax hooligans they allowed to run amok.

    It’s safe to say I will never ever set foot in that city after this and if we are ever drawn against that club again none of their fans should be allowed to set foot in ours as they like their legal system is a disgrace.

    Hail Hail.

    • Jimbo102 says:

      Andybhoy, there’s always time to have a dig at the Hun,
      I agree with you 100% on the Amsterdam situation, hopefully common sense will prevail at the appeal and the bhoys clear their names.
      Their are now two grounds that I will never set foot in again and avoid their cities if I possibly can, Ewood park Blackburn is now joined by Arena Amsterdam. To us the ordinary fans the only power we have is the £ in our pockets.
      Hail hail

      • Andybhoy says:

        Fair point Jimbo, we probably shouldn’t miss an opportunity to have a laugh at their expense.

        As far as Amsterdam is concerned, far from protecting his city’s reputation that excuse for a Judge has only managed to damage it’s reputation even further with this verdict. They can now add a corrupt judicial system to their list of shame alongside their violent and out of control police force and the equally violent and vile bigots who call themselves Ajax fans.

        At least we still have a reputation worthy of protecting which is more than can be said of them.

        Hail Hail.

  • jaztecc says:

    just read sally is meeting the new CEO later today, so that’s a little unexpected overtime at the greggs bakery, and we all no what is coming blah blah blah

  • seamie kelly says:

    totally agree pals on the farcical dutch beaurucrats and the way they mistreated the best fans in the world.the answer to that problem as regards ajax their fascist supporters and their deluded manager is simple………abscence away and full house at home……either that or a belfast handshake or glasgow kiss……..as regards our pals across the city….laxative bros along with ali baba and the thieves is comical to say the least……anyone for a ibrox biscuit from the tin?lol

  • drawkcab says:

    Say what you like about graham Wallace but you can’t fault him for his fat chipmunk impersonation.

    Haw haw haw

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