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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. So the mighty Hearts have been beaten by Saint Mirren and are now 4 points adrift at the bottom.

  2. St Stivs 9.44

     

     

    That’s naw the goal!

     

     

    You must be too young – it’s carved into my heart😀

  3. You’d have to go a long way to find a less informed commentary pundit than Steve McManaman. He offers absolutely zero technical insight into what’s going on. Clichés, slightly xenophobic utterings is about his limit.

  4. Just have a hunch © adolf drumpf that next Friday after the 2nd leg of the Europa have been completed the tournament will be suspended due to travel restrictions imposed by some of the countries still involved and played at a later date, possibly in the summer when it is expected the virus which does not like hot weather to slow down a bit.

  5. Horrible bunch of dirty b’s progress, don’t care what they pose as now but Athletico should burn in hell

  6. Bhoyjoebelfast on

    Happy with the result,four Liverpool supporters clubs in Belfast with strong loyalist ties,indeed double up as sevco fan base, not happy tonight.Hopefully their misery is compounded tomorrow evening,and on Sunday we get three points to sicken them to the hilt.

  7. SS- A comment I read said Celtic would still be taking his Direct Debit off him…😜

  8. Jinkyredstar

     

    I was there too, it still hurts.

     

     

    Bob Loblaw

     

    Aye, and Michael Owen was too busy eating all the paella to see what was going on…

     

     

    HH

  9. BOB LOBLAW on 11TH MARCH 2020 10:15 PM

     

    You’d have to go a long way to find a less informed commentary pundit than Steve McManaman. He offers absolutely zero technical insight into what’s going on. Clichés, slightly xenophobic utterings is about his limit.

     

     

    -///

     

     

    He’s dog awful. His begging for an off side flag at the end of that match was pathetic.

  10. I’m also happy to see Liverpool out. Sevco Liverpool fans will hopefully have a bad few days ahead.

  11. South Of Tunis on

    Yet more lockdown /clampdown/ stay at home measures for Italy.Word is that if the current exponential growth of Covid 19 isn’t curtailed the Health Service will implode in @10 days..

     

    My nearest neighbor is @ 2km away – the foreseeable future is me /Mrs S of T / the dogs /a lot of gardening / a lot of books /choons and Dvds.Fingers and toes crossed !

  12. jinky

     

     

    VAR

     

     

    stivs posting shite

     

     

    you tube replays confirm thats not the goal.

  13. So the great myth about the strongest league with the worlds best teams is shown up as a pack of lies… all we need is for Real Madrid to turn up at the Etihad and all four world beaters are out before the QFs!!

  14. When Inter Milan beat us a couple of years ago Mcmanaman said…’ Celtic should be beating teams like Inter Milan….’

  15. so seems the pic that is not the goal in lisbon relates to this guy stopping chalmers scoring in one of the 34 chances.

     

     

     

    Lot 1889-GIANFRANCO BEDIN OF INTER MILAN – HIS MATCHWORN JERSEY FROM THE EUROPEAN CUP FINAL 1967Lot 1889-GIANFRANCO BEDIN OF INTER MILAN – HIS MATCHWORN JERSEY FROM THE EUROPEAN CUP FINAL 1967

     

     

     

    Lot 1889 (The Sporting Medals & Trophies Auction, 13th March 2020)

     

     

    GIANFRANCO BEDIN OF INTER MILAN – HIS MATCHWORN JERSEY FROM THE EUROPEAN CUP FINAL 1967

     

    Estimate

     

    £20,000 – £30,000

     

     

    https://www.mctears.co.uk/auction/lot/1889-GIANFRANCO-BEDIN-OF-INTER-MILAN—HIS-MATCHWORN-JERSEY-FROM-THE-EUROPEAN-CUP-FINAL-1967/?lot=157740&so=0&st=&sto=0&au=918&ef=&et=&ic=False&sd=0&pp=25&pn=7&g=-1

     

     

    GIANFRANCO BEDIN OF INTER MILAN – HIS MATCHWORN JERSEY,

     

    vs. Celtic F.C., in the European Cup final, at Estadio Nacional, Lisbon, 25th May 1967, sewn badge and star to obverse, sewn No. 4 to reverse

     

     

    Note: Gianfranco Bedin of Football Club Internazionale Milano swapped jerseys with Celtic’s Stevie Chalmers after the European Cup final on 25th May 1967.

  16. Closed doors at Ibrox looks increasingly likely with delay phase reportedly to be announced tomorrow lunchtime.

  17. The inevitable win for us on Sunday will lead the league to be suspended and subsequently cancelled.

     

    The title will be held over till next season.

     

    The SFA and SPFL will claim the title can’t be awarded to us despite the 16 point gap as

     

    Sevco have a game in hand.

  18. St Stivs

     

     

    Thanks for putting the McTears stuff about the Stevie Chalmers collection.

     

    I am sure I have read it has to be sold as one complete lot.i agree with posters who say the club should buy.it would be sad to see it go

     

     

    HH

  19. AN DUN on 11TH MARCH 2020 11:37 PM

     

     

    From BBC…

     

     

    ‘Delay is the stage where “social distancing” measures will be considered – which could include restrictions on public gatherings above a certain number of people, although this is not thought likely at this stage.’

  20. Then again from The Times…

     

     

     

    Games to be played behind closed doors as part of coronavirus crisis plan

     

    All football matches in England will be played behind closed doors under government plans to combat coronavirus that could be triggered as early as today.A meeting of the government’s Cobra committee

     

    thetimes.co.uk

     

    12:08 AM · Mar 12, 2020·Echobox Social

     

    471

     

    Retweets

     

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    Times Sport

     

    @TimesSport

     

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    41m

     

    Replying to

     

    @TimesSport

     

    and

     

    @mhardysport

     

    In a #coronavirus crisis plan being unveiled for football, we can reveal:

     

    • The season will not be postponed and instead matches in the Premier League and lower divisions will be moved behind closed doors >

     

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    Times Sport

     

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    • Premier League season-ticket holders and ticket holders will be able to stream coverage of matches

     

    • No games will be shown in pubs so as to avoid congregation of people

     

    • Premier League games will not be shown live in the 3pm slot on Saturday afternoons

  21. It is hard to see how Scottish football could not follow the same steps as England. The Huns game tomorrow might make it through in time but it must be likely now that Sunday will be played behind closed doors.

  22. David17

     

     

    I guess Sundays game will be played behind closed doors.imo

     

    After the cobra meeting in morning it’s as per Times article.

     

    Guess the spfl cannae help um.:-)

     

     

    HH