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‘Asian money for Ibrox’ and Chinese whispers

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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@…..

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269 Comments

  1. What is the Stars on

    All major sporting events across Europe should be cancelled immediately

     

    all concerts too and all schools and colleges must close

     

    Madness not to

     

     

    Football should be the least of our concerns

  2. What is the Stars on

    BSR

     

     

    It should be cancelled

     

    If any sanity prevails no more games will be played this season

  3. Afternoon all – money interests kicking in – like the toon cooncil in Jaws!

     

    Firmly believe the desperately needed income at the Govan midden will signal the end of fans at games for a while – we need to win because if it goes their way the move to void the league will go into overdrive- need to be out of sight by full time on Sunday!

  4. Uefa postpone the euros until next summer,and close the leagues down until May,letting them finish,is the only way.Anything else is chaos

  5. OURNESOUPRECIPE on 11TH MARCH 2020 2:37 PM

     

    Anybody else think that had this weekend’s Glasgow derby been at CP it would be behind closed doors?

     

     

     

    In a word, yes! Sevco need the cash and there is no way this will happen unless central government bans all outdoor activities with crowds. Cash is King (pun intended)

  6. someone at work asked me ‘ have you had coronavirus and have you been to Ibrox?’

     

     

    i said ‘ neither, but if i get the first i’ll try to do the second’

  7. The Battered Bunnet on

    We’ve been outnumbered in the middle of the pitch in each of the last 2 matches v Sevco.

     

     

    They play a narrow 4-3-2-1 in the Christmas tree shape, meaning they are able to press the ball when we have possession, and are apt to win the second ball when it goes long. They are also very compact when defending.

     

     

    Width comes almost exclusively from the full backs.

     

     

    As we have found out lately, if you can’t get/keep the ball, you rarely win.

     

     

    To control the match I suggest playing a 4-4-2 with the midfield four in a diamond – Brown behind CalMac and Ntcham with Christie one ahead. Up front Griff runs the channels with Eddy dropping to collect and turn.

     

     

    If Ntcham is not fit, replace with Bitton, or drop Christie back one and replace with Rogic or Moi.

     

     

    Choose your favourite full backs to play either side of Ajer and big Jullie. I don’t think any of the three currently fit full back options on each side are clear and obvious choices.

     

     

    No wingers.

     

     

    All of this of course is a non-starter because as BSR is forever telling us, the first name in the team sheet is…

     

     

    Wee Jamesie Forrest.

  8. Siempre Celtic (formerly Traditionalist88) on

    This should be a wakeup call for a lot of people. The virus is spreading like wildfire yet there are only two ways to really get infected. Get sneezed on (largely unavoidable but not a daily occurrence!) or, more to the point, from your hands to the face.

     

     

    It seems a lot of people think because it can’t be seen its not there. Short of us all walking around with electron microscopes for glasses just wash your hands a bit more and try to touch your face a bit less.

     

     

    It ain’t feckin rocket science. More epidemiology. Or something like that.

     

     

    HH

  9. Who will win the league if games are postponed, abandoned ?

     

    What will the SPFL do?

     

     

    A precident from football history.

     

     

     

    Street football games could last for hours. Players would go home , get their tea, come back ,re-join the game .

     

    As it started to get dark with the score poised at 46:35 someone on the losing team would invariably shout ….. ” Next goal wins it”.

  10. Turkeybhoy Cheers I appreciate the feedback :) KINGLUBO I agree for me Celtic should allways play 2 central defenders 2 wide touchline huggers 2 in midfield and 2 proven goalscorers then have an eight and ten define our strategy that would give us every formation in fluidity 343 442 352 253 etc ….

  11. !!Bada Bing!! on

    UEFA in talks to cancel all tomorrow’s Europa League games…..would be fun trying to see the huns give refunds…

  12. I’m not sure the cancellation of football will make any difference unless it’s part of a wider shut down of society.

     

     

    It may well happen but at the moment the experts are advising against it.

  13. We’ve played 13 games domestically in 2020 playing for the most part, 3-5-2. We’ve won 12 and drew 1, scoring 40 goals and conceding 5.

     

     

    I suggest we stay the course.

  14. THE BATTERED BUNNET @ 9.45

     

     

    Wash your hands and keep your old folks off the bus seems to be about the only practical advice

     

     

    I’m taking the car to work meantime 👍

     

     

    Agree, we should play with a back four but the defensive frailities of the full backs helped make us switch to a back three in the first place?

     

     

    Might be too soon for El Hamed, only those at Lennoxtown will know.

     

     

    Your jackets have too many pockets? 😂

  15. So Gerrard looks set to win an SPFL and Europa league double due to corona suspensions.

     

     

    Anyone that disagrees is obviously sectarian and probably a racist.

  16. Beeb site sevco 70 pts

     

    Spfl site sevco 70 pts

     

    Celtic site sevco 67 pts

     

    FF site sevco 67 pts

     

     

    ???

  17. My team for ibroke 3/5-5/3-2 Forster Ajer Julienne Elhamed Taylor Frimpong Brown Macgregor Rogic Griff Eddy …. Though I don’t know any line up or formation that will stop Cheatin Beaton from deciding the outcome if he choses ;(

  18. Siempre Celtic (formerly Traditionalist88) on

    FLOATIN’ on 11TH MARCH 2020 3:43 PM

     

     

    WTF! Good spot. Also seem to have given them +2 goal difference.

     

     

    BBC league table last updated: 11th March 2020 at 14:18

     

     

    hmmmm

     

     

    HH

  19. Siempre Celtic (formerly Traditionalist88) on

    Should be P29 W21 D4 L4 F 64 A 19

     

     

    BBC/SPFL have added a win, subtracted a loss and taken -2 off the goals against column.

     

     

    Honest mistake I’m sure.

     

     

    Hmmmm

     

     

    HH

  20. Looks like BBC/SPFL has overturned the Hamilton result and made it a 1.0 win for Sevco. And quite right too!

  21. Tim Malone Will Tell on

    SIEMPRE

     

     

    I really fear for us if games are played behind closed doors in Scotland.

     

    I reckon that the Arbroath v Bon Accord 36-0 record score will be under severe threat whenever Sevco play at home.

  22. Siempre Celtic (formerly Traditionalist88) on

    TIM MALONE WILL TELL on 11TH MARCH 2020 4:11 PM

     

     

    Tell me about it.

     

     

    Just so coincidental that of the many hundreds or even thousands of potential errors with their league tables ,and website in general, that 3 extra points finds its way into Sevcos total.

     

     

    What were the chances!?

     

     

    HH

  23. Surely the Beeb and SPFL don’t believe no one will notice this chicanery with the table, however it needs to be officially nipped in the bud very quickly – operation ‘void league’ is well underway – what takes place on Tuesday evenings?

  24. Tim Malone Will Tell on

    Hrvatski Jim on 11th March 2020 4:02 pm

     

    Looks like BBC/SPFL has overturned the Hamilton result and made it a 1.0 win for Sevco. And quite right too!

     

     

    ————————————————————————————————–

     

     

    Maybe the BBC/SPFL haven’t heard yet that the Dougie Imrie “match fix” didn’t work out as planned?

  25. David Turnbull signs a new deal with Motherwell until 2022.

     

     

    Blatant attempt to protect his transfer value. He will still move in the summer.

  26. Ah think we should give them the extra points, they must be very depressed these days, would be a nice gesture.

     

    Might suggest this on FollowHollow.

  27. prestonpans bhoys on

    Celtic need to ask the SPFL how that table was derived, BBC who gives a hoot not the official table anyway