Despite their massive resources and staffing BBC Scotland have opted out of mentioning the latest Rangers International share issue on their website.
The state broadcaster is fully on-message with all matters Ibrox but has refused to touch the news released from Companies House yesterday that £5.3m of loans had been converted into shares.
Kenny Macintyre, Tom English, Alasdair Lamont, Steven Thompson and Jane Lewis are among those draining licence fee money out of BBC Scotland who can also call on the expert opinions of Cammy Bell and Rory Loy after loaning Neil McCann and Billy Dodds to their favourite club.
There are eight stories on the front page of the BBC Scotland Football website, none of them mention the latest share issue.
At the weekend BBC Scotland produced a special podcast on the fakeover with Chris McLaughlin and Kieron Maguire demonstrating that they are on the outside looking in through rose coloured glasses.
Apparently all is sweetness and light with the management of the San Francisco 49ers looking to enjoy some soccer fun and living off the kudos of being worshipped by the loyal bears.
Barely a peep was heard about the highly secretive Andrew Cavenagh who is heading up the consortium according to takeover specialist Keith Jackson.
Yesterday’s share issue has bumped up the takeover price tag by £5.3m while further diluting Dave King’s stake in the company.
Despite years of promises that the company is planning on becoming self-sustaining the share issue confirms that that status won’t be happening any time soon.
Last season the club reported losses of £17.2m with this season losses north of £25m expected.
Fortunately with Ian Maxwell and Neil Doncaster in charge there has never been any Financial Fair Play or Sustainability rules in Scottish football.
Great article again Hugh and this comment made me laugh „…after loaning Neil McCann and Billy Dodds to their favourite club“! Keep up the good work with real journalism.
They are Friar Tucked, and they know it the panic button will get pressed should the FAKEOVER fall through,which is more than likely.
All of their eggs are in one basket the Europa league with auld pishy Tenalady at the daily sevco urging them on to win it,so it won’t make him look more stupid than he already is with his catchphrase being,I told you all the could win it.
There is no way any consortium of any kind is looking to invest in the pig sty klub from ibrox,these guys are double wide when it comes to investing money and to get a return,they don’t have the time to fanny about for the next number of years waiting on a return,time is money and sevco don’t have that.
My take on it is this,the FAKEOVER does go ahead and they do a Criag Whyte,the rest is an action replay of what happened to Rangers and sevco join them in the graveyard.
The training centre will now become a nice new housing development in Milngavie,prime land.
KERCHING££££.
I understand that CAN’T happen…We shall see.
Does it not belong to some quango of The Scottish Government these days !
Are these shares even worth a penny. Millions of shares out there. Who would want to take over a business in that state? Insolvency here they come.
I keep saying, there is no investment opportunity here.
The only opportunity is to throw good money after bad.
They have now issued over £17M worth of new shares since December with losses this financial year expected to be about the same as last year.
If that is the case then there is £34M lost over two years to stand still, or arguably get worse.
If the Americans buy this tremendous business opportunity first of all they would need to buy the ever increasing amount of shares, so there is at least £60M gone. They would then need to get a manager and new backroom team in. Their new Chief Executive and Chairman would most likely be replaced. Their medical facilities, which have been gutted since Gerrard left, will need improved while servicing ongoing losses. That is before they even begin in to improve the squad.
So the big question is, where is the return on their money? They would already be the best part of £100M down on the daal, sure they may win the league and bank £45M but what would be the outcry if they took that money out of the club as their return?
That type of return would be required three years out of four to get them there money back and, as we all know, European qualification isn’t that easy through the play offs.
“takeover specialist” ?????
what i find curious is the absence of comment from the village idiot , who i believe would be singing from the tree tops if there was any real merit in all of this , the lack of comment from him is glaring
Sidebar: have they started the “ UEFA cup victory better than Celtics 67 triumph “ yet??
When Cerny returns to his parent club no doubt sevco will have inserted a sell on clause for his loan period at ibrox.
You can’t watch any game on it without an ex hun popping up
You’ve either got one on the commentary or in the studio or both
F*cking terrible man
Best watch on The IPad for free Harold – You usually get shall we say ‘different’ commentary there…
For Example – St.Mirren v Sevco – It’ be St.Mirren TV and their folks…
Still a million times better than The ‘neutral’ mainstream Scummy’s for sure !
They are trying to keep the lights on and pay players wages from this share issue they are skint
No money coming into the club, they are simply wiping out debt/loan by issuing shares.
The hole their digging at ibrokes is going to become their grave, never mind basket, their a casket case , can’t wait to see this backfire and swallow them up , then again they’ll properly be shat back out as sevco sevco .
The grim reaper must have that scythe lovely and sharp ready for them.
A Casket Case – Very good ind Jim M
A Casket Case – Very good indeed Jim M !
Is it possible that all these people only use one half of their brains?!
But the 49ers are coming. With Trumps tarriff war likely to cause a recession/depression* (delete as appropriate) I don’t envisage any US outfit investing in a loss making basket case of a ‘soccer’ team. Particularly one whose stadium would need knocked down and rebuilt. Mind you they could pull a Manchester United stunt and ask the government to help.