Ibrox rebel Alex Wilson believes that Sevco are on the brink of administration.
Wilson and his fellow rebels will put their case for a boardroom blazer to shareholders on December 19 as the Third Division champions hold their first ever AGM.
Twelve months ago the club raised over £20m with a share issue but with losses of over £1m a month and the collapse of the old board it seems only a matter of time before the cash runs out.
“Administration II is a very real concern,” non-billionaire Wilson told the Daily Record referencing how the old club went into administration in February 2012 before being put into liquidation four months later. “The finance director (Brian Stockbridge) has overseen an extraordinary level of spending.
“After six months of the financial year he predicted there would be a £7m loss. It was in fact £14m. For the FD to get the numbers that wrong should scare the life out of any executive.
“If we do manage to get in, we can positively vouch that both public and private funds would be available.
“We have people who are ready to invest in the club so long as there is a board in place which they can trust. This comes from conversations that Paul and Malcolm Murray have had with institutional investors and with wealthy individuals who are sympathetic to Rangers.
“I don’t think money will be available to the current board. If we are going to avoid administration then the best chance will be with the new faces on board. But I am worried about what we will find when we do get in there.”
Wilson is chasing a blazer alongside Scott Murdoch, Paul Murray and Malky Murray.
The failure to recognise that the old club went into liquidation is one of the major barriers to the success of a new club from Ibrox.
Comments about financial meltdown or crisis ignore the core fact that the club was liquidated with the stadium and training ground hived off in a £5.5m deal to a mysterious consortium headed up by non-billionaire Charles Green.
FAO We Are Sevco- robust anti-Zombie software is in use on this website.
Don’t sack the board.Give them a pay rise
Santa can I please have another liquidation for the the rangers international I promise that I have been a good bhoy this year ( the year that keeps on giving ).
Where are the “Public” funds coming from??????
As long as the current board refuse to name those behind Blue pitch Holdings, Margarita etc., then they deserve the administration that is heading their way. There is one quick and easy way to prove that Green and Whyte (love the irony) are no longer pulling the strings, to quote Ally himself…….”NAME NAMES!”.
its funny how he has gone quiet on the names front all of a sudden 🙂
In keeping with most sensible folk…I want the current Board at Ipox to be returned to office….
They have proved that they are only in it for self-gain and the Govan Club can sink as far as they’re concerned. (And who could disagree with that..?)…..
On the other hand…if the other toe-rags get in….will they find a note on the Boardroom table saying….
“There’s no money left.”….( Where’s New Labour when you need them..?)…..
It’s looking that way….
This is the point that the SMSM are missing, they want this mob in the top division as soon as possible ‘ for the good of the Scottish game they call it ‘ , but it’s slow car crash waiting to happen.
The old Rangers under David Murray couldn’t manage their finances thus relying on Champions league revenue to keep their heads above stormy financial waters.
Resulting in financial skullduggery as well as ‘ Honest Mistakes ‘ to keep them stuttering along, but even that wasn’t enough to keep the old club from going into liquidation.
So what has changed ? Or what plans have these rebels got that David Murray couldn’t put into action to bring at least a break even business plan ?
If this new club manage to avoid another liquidation are we going to be treated to all that honest mistake bullshit etc once again ? Is this the vision our SMSM have got, do they realise the damage this mob are doing to our game ? Or is it all about selling rags ? … Wake up ya feckin eejit journalists and start pointing out the bleeding obvious. Between this mob and the SFA they going to destroy our national sport.
“Wealthy Individuals who are sympathetic to Rangers ” Billionaires wealth of the radar,no again,we have been here before…………………..it will all end in tears,me lets chain the doors of mordor and throw away the keys and be done with them.
Joe,good article.
I like your ” chasing the blazer” for the
Rebs.
The Rebs are desperate, the board are
under the guidance of Green, and Whyte
is playing them all, like a fiddle ( while he’s
on the fiddle )
Wealthy individuals and investors ??
Really, pull the other one, it’s got
(Christmas ) bells on it.
As the saying goes,Hell slap it into them.
WE’LL BE HAVING A PARTY WHEN SEVCO
DIE,WE’LL BE…………….
So Paul Murray’s loyal mutt Keek Jackson has taken his daily dump on the Daily Record printing presses and fashioned his mess into yet another pro-Murray group opinion piece, this time though it contains Murray’s new Sevco constitution….cue the angels singing on high!
Yes according to the gospel of Keek, Moses Murray has descended from Mount Sevco with his tablets of stone and proclaimed that as the chosen one he will lead his people through the intellectual, moral and financial wilderness by following the 8 commandments.
First Commandment: Thou shall not sell Ibrox.
Sorry that was as far as I got before I fell to the floor pissing myself laughing. Murray promises not to sell Ibrox, well that’s an easy one as he would actually have to own it first, and I’m not sure wee Craigy Whyte is for selling. Seriously though Murray’s commandments aren’t worth the tablets they’re written on.
As for Keek, I always thought dugs licked their own balls and not those of their master. Bad Keek!
P.S. The Daily Dump is a great new name for the Daily Record, it seems quite apt!
Hail Hail.
We will definitely see celtic v rangers in next round of Scottish cup now and al bet it’s at ibrox so we can save them.. so let’s hear your save me song ally ya fat cunt.
Paul Murray was part of the board that went into administration subsequent liquidation. I assume the sfa will ignore their own rules yet again and allow him on the board of the newco?
Just read the article about their meeting and charter. Quite apart from the issues noted above there is the curious question of payment of directors, or is it something to do with how the votes are to be counted? Deliberate error or “honest mistake” ?http://public.wsu.edu/~brians/errors/remuneration.html for explanation.
Here we go Another song and dance Will thisSoap opera never End Please somebody Do us all a favour