Deluded Ally McCoist has no worries of a cash crisis at Ibrox!
With former Rangers director Dave King speculating over whether the February pay-roll can be met and chief executive Graham Wallace, who used to work for Manchester City, repeating statements about no administration most people would concede that there are reasons to be concerned about the financial health of the new club who posted £14m of losses in their first year of audited accounts.
The biggest individual shareholder in the troubled company is now the Isle of Man based hedge fund Laxey Partners.
A mysterious loan facility of £2.5m from an unknown source was included in the accounts allowing the auditors to sign the club off as a going concern.
McCoist has given his personal endorsement to a succession of fly-by-night characters at Ibrox such as Craig Whyte, Charles Green and Craig Mather and now puts his faith in the soothing words of Mr Wallace despite watching Brian Stockbridge join original investors Green, Mather and Imran Ahmad in a retreat from Ibrox.
Since the turn of the year, as well as being in long running negotiations to reduce his £825,000-a-year salary alongside conceptual discussions with players over pay cuts, McCoist has watched Stockbridge depart and a Stock Market announcement over talks about an emergency pay day loan for £1.5m.
Despite all those warning signs the fun loving former Question of Sport skipper believes that the garden is rosy on Edminson Drive.
Speaking yesterday he said: “I can only say to the supporters that I think things are going reasonably well.
“I was down at the board meeting yesterday, I’m obviously not involved in that side of it, but I’ve been told it’s (the loan) part of a business plan. It’s nothing that wasn’t planned.
“The impression that was given to me was that there was too much that’s been made of it.
“It’s nothing that wasn’t on the agenda already so I have to take that as fact because that came from the board meeting.”
Asked specifically whether the £1.5m emergency loan was part of the business plan McCoist ducked the question saying: “You’d have to ask the board that. The board and the chief executive have obviously got a plan which I’m not privy to.
“At the meeting it was told to me that there certainly won’t be administration 2, which is encouraging because a lot of people are asking the question and I totally understand the question being asked.
“But again it was categorically said there will not be administration. I can totally understand the fans’ concerns, absolutely but I can only tell you what has been told to me by the board so, if that is reassurance for the fans, then great.”
Last night a grouping of various Sevco fan groups issued a statement calling for clarification from Mr Wallace over the pay day loan.
Ally “totally understands” something- although I’m not quite sure what it is that he totally understands. And I don’t think he is either.
Of course there won’t be admin 2, it’ll be the first one for the new club, the wind must’ve changed again as Sleekit has decided he can opine on financial matters, when at other press conferences he has stated that he was not privy to these matters and has absolutely no interest in them or speaking about them, surely he isnot YET AGAIN taking part in financial discussions as the ST renewals are on the horizon. Still the knuckledraggers swallow swallow on.
Another thing, why have a board meeting in London? Could it be that they were on the streets of London anyway with their wee cups asking for money for a cup of tea, or was it that the asbestos problem at Mordor is worse that anyone thinks and the boardroom is uninhabitable?
asked if he was concerned they’d be no money at the end of the season…. his reply he said he wasn’t worried about that he had more to worry about on the park!!! yea must be tough with that lead slipping away….. he also had to be told that there would be no administration 3 to 4 times as he thought Wallace was telling him how to make a mince pie he though he said “add mince ally straight in”
What board meeting were you at Ally,if you were not privy to talks on agenda.
Joe,
This photo of fat Sleekit with his wee side-
kick,is one of my favourites.
Who is Sleekit trying to kid ?
“….too much has been made out of it ”
We know Sugar Dave is a ‘ glib liar ‘, it
appears Sleekit is also one.
Say anything to keep the Zombies onside,
until renewal time.
When a hedge fund is calling the shots, and the LSE wanting to know your every
move,you have SERIOUS SERIOUS PROBLEMS.
All the while, SFA officialdom,are turning
a blind eye.
” Without fear or favour ” was this not
their motto.
MY ARSE !!
Has that fat git taken his wage cut yet? The £1.5 mil loan hardly covers two years wages for the rotund haw at. Hh
‘ I was down at the board meeting yesterday, I’m obviously not involved in that side of it ‘ WTF,carefull not to tie yourself in knots Ally, must really hurt the bears to be deceived by one of their ‘ heroes ‘ ah well 😉
And still it goes on. They will lurch from one crisis to another with ally telling the orcs that ‘all is well’. And scarily they swallow it. I have friends who favour the blue side of the city and I never cease to be amazed at how some of them are convinced ‘all is well’. Deluded and then some
Maybe El Gordo thought they were asking about his personal finances. If I was being paid that much to manage a team of full-time internationals against part-time bin men, butchers, bakers and candlestick makers I’d say things were pretty rosy too. Especially if I was getting to enjoy five star luxury and a wee nap in a top hotel before each game. For all he contributes, Ally could probably carry on eating the hotel cupboards bare and just have his nap during the game. Add to that still being well up on the deal for all those share you were able to buy for a penny (even at their current, crisis value of 25p, that’s still not a bad return). Great work if you can get it (and are so lacking in scruples and moral fibre that you are happy to work for Them)!
I see that Sevco are playing East Fife live on t.v next Saturday.
The team that still holds the record in Scottish football will still hold the record for Scottish football long after the Sevco have administrated, liquidated and terminated.
East Fife still the only Second division team to ever win the Scottish Cup.
Sevco ONE THIRD DIVISION cup and a busted flush to their name.
It’s time fat Sally demanded ‘transparency’ surly!
Honestly, at times he makes Green’s ranting sound intelligent and that’s not easy.
He might be a stupid sleakit wee whisperer who demands “transparency” when it suits him, but you have to hand it to him he’s clever enough to be holding out on accepting a cut until he obviously gets a written guarantee that if/when Sevco get to the SPL he will continue as manager and with his salary returned to the current level (or maybe even increased). I mean, what is there to negotiate apart from this? You either take a cut or you don’t, so he must be holding the board over a barrel ‘cos if they sack him they’ll have to pay him off big style…they must really hate the wee toady, he’s laughing all the way to the bank while they’re desperate for cash. Aye Riddy!!!!!
What is the point to Ally McCoist? Even Sevco fans smell shite when he opens his mouth. He’s a joke character.
Does Sleekit not want the names of the people who gave Sevco the loan “that was part of the business plan?”
If serco are not in the “dung heap” why have they borrowed one and a half million pounds?. While wee sneeky still sits on eighty odd grand. He has a strange way of showing “leadership” and asking his players to take a wage cut!.Yes indeed they are going down the dear old road to admin and with a bit of luck they WONT be back into the big time.They have NOT learned from two years ago therefore they do not deserve too come back!! Let them rot along with their run down stadium in hell forever!!