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Club 1872 sets up new civil war

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Sevco fans group Club 1872 is facing another civil war over the latest fund grabbing stunt.

Yesterday they announced that they had seven days left to raise funds for a share issue that the company hasn’t published any details about.

In their press release it was announced that the Community Investment Company had £960,000 in their bank account which would be able to pay for one third of the transfer fee agreed with Brighton for Connor Goldson.

That figure however is made up of two sections split between shares and projects such as a company museum.

When fans join Club 1872 they are given an option to donate their money to buying shares or investing in longer term projects.

Now with a week’s notice ALL Club 1872 members will be polled over whether the money set aside for projects should be used to buy shares which any rational individual would rate as worthless.

Three years after Dave King grabbed control there is no company NOMAD or mechanism for share trading.

King has ignored the rulings of the Court of Session and Takeover Appeal Panel with any attempt at creating more shares certain to be challenged.

If Club 1872 took independent advice they would be told to hold on to their money and see what happens with King and the TAP.

The collapse or administration of the company is more likely than King’s moonbeam of Champions League football.

Rather than split the membership further by handing money over to a man described as a glib and shameless liar, Club 1872 would serve the fans better by taking a step back from the blue room and prepare for the third club out of Ibrox in under a decade.

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