The Sun today presented the latest instalment of the ‘money from Asia heading to Ibrox’ story, with a figure of £20m quoted. This has been kicking around all season and my information is there is that potential investors with cash took a look as far back as October.
The problems at Newco are clear, documented in their accounts, and by Dave King at their AGM. The club’s annual losses run to eight figures, the liabilities of various litigation defeats could easily top £10m, it is heavily dependent on shareholder loans and the principle shareholder, Dave King, will not fund beyond this season.
What was missing from The Sun piece was specifics. If your information amounts to “a mystery Asian investor and a Hong Kong-based backer”, you don’t have enough to substantiate the story. Forgive the pun, but this sounds like Chinese whispers. “£20m”, “Hong Kong”, “Asian” is all a bit generic. If they had even given us something like, ‘A fan, originally from Paisley, who made his money in the Far East’ I would have thought their information was possibly on a par with mine.
£20m could well be the figure to plug the immediate shortfall. I expect the globe has been searched for a funder to take advantage of this unique opportunity. That we are four months on from the AGM and still working on hearsay is an indication of just how unique an investment this is.
Due diligence will be a problem, as we discussed last month, Newco have run out of road when it comes to Uefa Financial Fair Play regulations. New money can pay for old debts, or failed legal cases, but it cannot fund football operations. And who wants to pay for King’s hubris?
King looks increasingly like a motivated seller, maybe his old pal, David Murray, can give him some advice on how to find worthy buyer for an iconic football club? If you know of anyone, drop the club a line using commercial@…..
269 Comments- Pages:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- »
Ooooft !
Happy Wednesday folks.
HH
It’s convincing enough for the SFA to give them a licence to play in Europe.
Paul67
Mystery Asian investors are such a mystery they’re invisible.
Empty Jerseys CSC
The only thing certain to appear at Ibrox originating in Asia is Covid-19!
have they no suffered enough…..
smiley this news could go viral thing
Braw
So,different versions of this guff going around.One is,the Wuhan 2 are going to invest £20 million into the Huns.Just what do they get for this?
The other is they are going to buyout Big Skelly Dave.The first is beyond the realms of fantasy.The second ,means no investment in the Huns ,only in Big Skelly Dave’s back hipper.
Filed along with the £22 million from Big Catholic Barisic sale.
Bourne,
H,mm.Could Charlie Chan not make himself invisible.
Or was that just our old black and white TV playing up.
Green Pinata
‘I have never advocated Brexit, although I respect the will of the majority. That’s called democracy.’
As a lover of democracy you must have been outraged when the Tory govt porogued parliament for political reasons. What protest did you attend? Or is your supposed love of democracy actually just a lie? A bit like posting stuff which you pretend not to have any opinion on I suppose.
Maybe two Wongs can make a Whyte.
S O T …..awfy braw
smiley wordsmith thing
Braw
The return of the man that didn’t come back
Bill Ng CSC
SOT 😂
Typically the success of any investment is defined by the return ON capital.
For an investor in Sevco it would be return OF capital.
Frankterry,
I must admit, you have me there. I didn’t protest when the government prorogued parliament. ( To be honest, I had to Google what it was )
The only protest meeting I have attended was Celts for change in the 90’s and a meeting against the OB act.
Having voted for the SNP, I guess you maybe supported their OB act.
The great thing about this blog is the diversity of topics when there is no football taking place, but I think we are probably boring people now, so I’ll bid you au revoir and HH.
S O T Joke of the week.
Really hope the season isn’t suspended. I’m very keen to see us lift the league at Celtic Park. Not handed it by default.
I’m also interested in the handful of games that remain after a title win. Will we get to see Shved, Bayo, Soro, Connell or Arzani strut their stuff?
A link to an article in the Sun, and not a single complaint.
What has this site come to?
GREENPINATA
‘I must admit, you have me there. I didn’t protest when the government prorogued parliament. ( To be honest, I had to Google what it was )’
So one of the biggest stories in the news last year that made headlines for weeks
and dominated the tv channels for countless hours you had to google? What complete and utter…. oh what’s the point.
Is John Beaton any relation to big Nir ?
Comments from The Bear Assed Den,on Beaton refereeing Sundays game.
“FFS,Beaton.He is up there with Clancy.He has robbed us of 5 points this season.”
( reply) ” You are forgetting Madden and Mc Lean”.
??????????.
Yo Ho Ho , off we go on our way to 9 in a row , bye bye sevco , and they better think again cos there’s no way we’ll stop at ten , bye bye sevco , they still scream an shout they’ll no surrender while their club depends on money lenders , when their pushing daises up we’ll still be lifting leagues n cups , sevco bye bye ………….
Fred colon,
Lol.Dont know,but I think Kevin is one of The Clancy Brothers.
RPM,
Is that the actual words?Cant make it out on Telly.Brilliant.
In terms of season ending prematurely, I would have thought that if we can get to 33 games (split point) nobody could have any gripe if the league is awarded to Celtic given that we will have played all of the probable top 6 away from home twice.
Turkeybhoy naw mate its my rewrite cos rangers are deid :)
With regards to the Asian investment, is that in addition to becoming Chelsea’s partner club?
You would almost think it was season ticket renewal time…
It’s basically Rae’s claims rehashed for March.
King will find it very difficult to attract any investors when he continues to claim they need to continue ‘investment’ in the squad.
When they start talking about balancing the books and living within their means, that’s when investors may start taking a look.
I don’t expect them to say anything like that with renewals coming up.
Timaloy
Really hope the season isn’t suspended. I’m very keen to see us lift the league at Celtic Park. Not handed it by default.
The Huns are trying to get the League declared Null and void to prevent 9 in a row. The Daily Record today was calling this the nuclear option.
The SFA will probably agree and for the protection of the public then the League will be abandoned. The other clubs will as usual rollover,
Behind closed door option does not suit Rangers as they cant afford it while Celtic have the financial muscle to ride out the closed doors option. Other clubs may be cash strapped
UEFA are insisting on playing the EUROs in June as a multi centred event. There is no option for SFA to suspend the games.
We need to step up and nip this in the bud.
Amother reason for us to beat the Huns on Sunday
Rome based media outlets are claiming that tomorrow nights’ Europa League game between Sevilla and Roma has been postponed.
Stated reason is the refusal of the relevant authorities in Sevilla to allow a flight from Rome to land at Sevilla Airport.
A further 83 (known) cases in UK
HH
AS Roma English
✔
@ASRomaEN
🔴Breaking news: #ASRoma will not travel to Spain for the @EuropaLeague match against @SevillaFC_ENG after the plane from Italy was not authorised to land in Spain. More details from UEFA soon.
I am seeing a lot of debate on social media already concerning Sundays game.
4-2-3-1 or 3-5-2
who plays / who doesn’t
For me I hope Lenny doesn’t over-think things.
Play the players that are in form. Play those who are fully fit. Play a team that are physically and mentally up for a battle.
The rest is elementary.
Carlos Santana concert scheduled for 26th March in The Hydro has fallen to Coronavirus.
Media claiming that Getafe have reiterated their refusal to travel to Milan for tomorrow nights Europa League game v Inter.No news of any response from UEFA !
A fool and his money……..and all that jazz.
When I played football, admit it was a good while ago, we had a system which we used all the time to suit our opponents. We had two full backs, three half backs and five forwards. Now if we were under a bit of pressure our two wingers would drop back either to midfield or even to help the full backs. It was very easy to adapt and I suppose some of today’s formations are based loosely on that.
What do I know, just play two up front on Sunday and destroy that disease..
KINGLuBO
“But what if I don’t want to go to China JIm?”
“Shut up Alfie, and keep digging”
chinasyndromecsc