Founder Investors still needed at Sevco


Anyone consuming media coverage would think that the on-going investigation into the registration of Rangers (since renamed RFC 2012) players over the last decade or so was the most pressing matter within The Rangers (until recently, Sevco).  I really don’t think so, although it is a useful rallying flag.  The EBT issue is not short of drama but there are more immediate concerns.

More importantly, I hear The Rangers are still trying to raise the initial £10m Founding Investors capital.  The Sevco Investor Presentation offered these Founding Investors two shares for each one purchased, “effectively doubling their contributions” ahead of a stock-market floatation later this year.  My understanding is they hope to raise £20m at that floatation, without the two-for-one share incentive, in order to see them through several years in the Scottish Football League and at least four years without European income.

If/when this matter materialises, remember, in 1994 Fergus looked you in the eye and allowed you to buy into Celtic at exactly the same rate he and the other early investors did.  This model worked, anyone hoping to emulate Fergus’ success would do well to offer fans the same terms.

The size of the total capital requirement may be as much of a disincentive to early investors as the terms currently on offer.  If you put significant sums in now and the floatation fails to deliver enough cash to allow the company to continue trading, your investment is at risk.  I hope Laurel and Hardy at Hampden haven’t deleted their Armageddon slides.

Even selling 40,000 adult season tickets for Ibrox at £268 each would bring in only £9m (ex-vat), so there is a good chance this company will burn cash reserves for some time, assuming they pay taxes, of course, which was apparently optional for some in the recent past.

Target closing date for Foundation Investors was 6 July with Q3 / Q4 slot for floatation on the AIM market, so we should be seeing a prospectus sometime soon if plans are back on track.  If Charles Green pulls this off he deserves some sort of Businessman of the Year award.

Anyone who thinks the drama is over still hasn’t realised the enormity of the situation.

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  1. Mort


    11:02 on


    7 September, 2012




    Agreed old chap, and you know who’s to blame fur that!





  2. 11:25 on


    7 September, 2012





    11:17 on 7 September, 2012



    There are one or two wind-up merchants on CQN ……… They are fine, especially Kevjungle, as long as they don’t become abusive…….!!




    Au contraire, as long as CQN’ers do not become abusive to our wind up merchants :¬)




  3. Big Swee walks on with Neil Lennon on

    I had read earlier that Ibrox was in a state of much needed repair.



    Health and Safety certs must surely have been approved to allow games to be played there.



    Tax is one thing but playing with folks lives is a whole other ballgame.

  4. What happened to the 5 bazillion investors Charlie Chalk said he had from all over the world?



    It reminds me of the WC Fields movie – You can’t cheat and honest man.

  5. weeshauns freekick that decked b bag barry on

    Considering that this blatant splurging of unlimited cash was an ongoing and therefore sanctioned HBOS policy when concerning the dark side, you would think that lots of people WAY higher up the foodchain would be well aware of the situation.



    Where they always aware, and dare I say it, did they actually allow it to happen?



    Qui Bono would be the obvious question here of course.



    Odd that UKPLC would allow its northern propaganda arm to flounder don’t you think just before independance, odd that is, unless your as cynical is my good self, because only the most cynical could entertain my thesis here.



    What if “they” were allowed to go to the wall in order to help create the flag-loving militia that they would kind of really need once we gained independance in order to still influence and keep us all divided?



    Divide and conquer is as British as (I say British but of course that translates as English or the City of London to be more precise) Opium wars, fish n chips, Wimbeldon, rain, inept inbred leaders (the Winsdors must do a right mean duelling banjos) and of course who could ever forget that most quintessentially British of things, – Landing your boat on the shore of some remote bongo bongo land in order to inform the locals they are now British citizens under a protectorate, for their own good of course, and that they have 6 months to learn English before all the men above 14 get conscripted into one of our armed forces, or is murdered on the spot, or even deported. (Our other slave colonies need labour too you know) Oh yeah and all your wealth, women and natural resources are now ours…



    More sugar in your tea before you are gainfully “employed” on one of our new sugar or cotton plantations?



    It was just a thought because in truth the people we are all fighting think many decades ahead in some cases maybe even in centuries, not just years.




  6. Arch


    13:07 on



    Arch your feelings mirror mine,I enjoyed the game I thought the team looked fit.I liked the goal keeper and and the right back,too many of the players look very similar in style and ability.We had no obvious potential quality up front and no imagination in midfield.I thought it was strange that we did not use any subs.As a club I believe we need a different dimension to coaching,to help the current coaching staff.However I am still looking forward to the next game in the competition.


    Hail Hail.

  7. The problem with wind up toys is they invariably become overwound one day and spend the rest of their time abandoned in the dark corners of the bedroom with no one to play with…

  8. Paul67



    Please accept this as my formal request for all my posts get a block coloured background, preferably green.



    I look forward to my next post sporting the new look.







  9. I'm Neil Lennon (tamrabam) on



    Ticketus were owed around 26 million quid plus style interest rates


    Maybe ticketus had no experience of what would happen if a company went into administration (hard to believe, I know)since that is the business that they were in.



    Craig Whytes guarantee


    It seems that ticketus had some sort of guarantee from agent whyte and not old dead hunco about getting the cash back


    Is it the case that agent whyte who paid 18 million quid out of the ticketus money to save old dead hunco from Lloyds bank held a security worth about 18 million quid over old hunco? Ie he owned 18 million quid of assets, eg a substantial chunk of ibrokes park?


    Is it the case that craig whytes 18 million quid security, was, in the vent of liquidation at old dead huinco, to be paid even before the taxman or other creditors got a penny?


    (Or alternatively agent whyte is just not going to pay anything to ticketus?)



    Liquidation and Craig Whytes security


    Is it the case that this security is still in place? ie when sevco bought old dead hunco from agent whyte they had to transfer the security from old dead hunco to sevco, This might explain how Charles green was able to buy ibrokes, murray park and a carpark for around 1.5 million quid


    If this is the case, then it seems that sevco might still owe craig about 18 million quid, because the stadium had a 18 million quid loan attached to it?





    As you can see there are a lot of questions in my “theory” I don’t know enough to say if it is correct or not, but it seems to me that agent whyte, always had a security over old dead hunco and I don’t know what happened to that security in the sevco deal.


    If this security was ever in pace it just seems to have vanished into thin air, much like their players and their tax payments.



    Unless of course you know better….

  10. starry plough



    13:19 on 7 September, 2012



    The problem with wind up toys is they invariably become overwound one day and spend the rest of their time abandoned in the dark corners of the bedroom with no one to play with…




    Now why does that ring a bell ?



    Lone-Wolf McQuade CSC

  11. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on




    Music to my ears. ……?……. Any on FTT / BDO expected timelines.? ……. Or are they still being lobbied ……LOL

  12. .



    Foreign Youth Coaches..



    Foreign Managers..



    Foreign Players..



    Whit Next..Foreign Supporters..



    You will be Wanting us to Move to a Foreign League Next..



    Oh Wait..!!



    Summa of ForeignPoliciesCSC

  13. 67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors



    13:27 on 7 September, 2012






    Music to my ears. ……?……. Any on FTT / BDO expected timelines.? ……. Or are they still being lobbied ……LOL




    In terms of – timelines/timescales


    the Pope was an alter boy when the


    huns went into administration.


    hopefully thats of some help.


    Hail Hail

  14. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on




    13:23 on 7 September, 2012



    Seems to have gone all quiet on that front, including the Newcastle etc Billionaires….. Come on, Green, we want to know…we have a right to know……name names, now, or we’ll get sally to you………



    Truth be told ? …..we don’t give a …………..

  15. So this Naqvi guy has control of at least 41% of the shares in Sevco. So much for Green’s promise that no one person would be in control of the club.




    Arif Naqvi, chief executive of private equity firm Abraaj Capital, owns just under 18 per cent of Rangers after investing £2million into the club in June.



    He is also the force behind Blue Pitch Holdings, listed as the main shareholder in Charles Green’s consortium and reported to hold 23 per cent of shares. It’s understood Naqvi has a personal holding in the club.

  16. Professor Green on

    Petec and Johann Murdoch



    Cheers for that. Was thinking of investing in a smart tv and thought the Netflix is a very good deal. But good to know of other options. I gave them a call this afternoon and it’s an American call centre. My god the level of service from them is exceptional. Compare and contrast with uk or Indian call centers. Night and day. Hail hail

  17. .



    Heaven67 aka Heaven17..



    Rip it up and Start Again..



    The Time frame for the Big Tax case is 12 Months for the Judge/s Verdict..if Not in by then the Judge/s get a Wee reminder and a 3 Month extension..



    Lawyers and Paint drying are Not a thing You should Watch..




  18. Not to mention future uncertainty regarding ownership of the assets, Ibrox and murray park, which may be subject to a gratuitous alienation claim by BDO. Plus uncertainty over revenue received from player sales and SPL prize/TV money which may be re-appropriated by BDO.



    And not least the uncertainty of whether the club as a sporting entity is the same as the oldco, thus potentially making the newco liable for any sporting sanctions or fines imposed by the Court of Arbitration for Sport for cheating Scottish and European teams out of competition revenue for 10 years.



    Charles green needs to get this floatation moving before BDO start making noises.

  19. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    kevjungle – murdo..10 men championees..1979



    13:31 on 7 September, 2012



    But were any of the Board ?

  20. Please give this a wee bit of thought Bhoys. It’ ll only cost you a fiver and you’ll be in good company.



    **QUIZ NIGHT**



    As many of you will be aware the weeoscar4life campaign team have recently been involved in raising the profile of a wee 3 year old boy from Belfast called Oscar. Many of you have kindly supported this initiative by purchasing CQN badges and wee Oscar wristbands and taking part in the “Small Change for US, Big Change for Oscar campaign” ,with the money raised all going towards getting Oscar the treatment that he so desperately needs.



    You see, Oscar has Neuroblastoma, an aggressive form of childhood cancer. This illness has greatly weakened his immune system and only specialist treatment in Germany or America can help to regenerate it and allow his wee body to fight off infections.



    Several of you also joined our ‘Lorryload of Volunteers’ to hand out leaflets to highlight the campaign before the recent game against Hibs at Celtic Park and even more of you will be supporting this wee boy by participating in the bucket collection prior to the game against Dundee on 22nd September.



    The next event that we have organised to help raise the £250,000 required for Oscar’s treatment is a quiz night. This will take place on the 29th September in The Phoenix (Previously Eastenders) on the Gallowgate with a 7pm start.



    The quiz will be made up of a variety of questions, 50% Celtic related and 50% general knowledge. There will be raffle prizes and we also hope to have some live music after the quiz has finished.



    Tickets are priced at £5 and you can buy as many as you wish for friends and family so long as they are over 18. Don’t worry if you aren’t able to make up a team of 4/5 as we will arrange you into teams before the event. We hope to be able to offer a ‘print at home’ ticket service so that you would be able to simply bring your tickets on the night.



    Until then if you can contact me at then I can begin to allocate spaces to those who have expressed an interest.



    Thank you once again for your continued support.

  21. 67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors



    13:34 on 7 September, 2012



    But were any of the Board ?




    The Pope had as much experience of running a football club when he was an, alter boy as – any member of the board had before – occupying their honorary positions.imo :o)

  22. Arch



    I have been thinking the same thing, re coaching, for some time now.



    By the time our young players come through, they are already indoctrinated in the “wrong” skills.



    From time to time, the clamour is for foreign coaches for the first team, but it makes more sense to start at our youngest age groups.



    There must be plenty of talented former European players, with the “right” football culture to teach the basic skills to raw youths.



    We are never going to change seasoned players in such things as First Touch control, shielding the ball and the pass and move techniques that are the requirements of the modern game.



    All of these aspects that give the player more time on the ball and an awareness of what is going on,all over the pitch.



    Lubo (or similar) as Head Youth Coach would be a start


    WEE SHAUN…. 1319



    While I strive to be original in my musings,I think VOGUEPUNTER’s reply the other day to an equally ridiculous post of yours is more than adequate.

  24. Brogan Rogan Trevino and Hogan supports Kano 1000 on




    what a doubting Thomas you are!!!



    Do you honestly think Charlie Drake– sorry Charlie Sheen– bugger– Charlie Green does not have the mullah for a season? Tsk Tsk



    By the way I need to contact St John Doyle– can you give him my details.






    Oh and here is a message from Charlie Green himself:



    singing…………..Oh its a long long time from May to December,


    and the days grow short when you reach September



    ….. and I don’t have time for the waitin’ game……






  25. 67Heaven ... I am Neil Lennon..!!.. Ibrox belongs to the creditors on

    Thomas Rogne upset over new deal ‘wage cut’




    CELTIC defender Thomas Rogne has spoken out over his disappointment at not being rewarded with an improved contract by the Parkhead club.





    Thomas Rogne


    And the Norwegian stopper could end up walking away for nothing at the end of the season unless the SPL champions finally table a suitable offer.



    The 22-year-old’s advisors have been in discussions with Celtic for months without reaching a resolution but Rogne still wants to remain in Glasgow and is keeping his fingers crossed a deal can be reached. He said “It’s frustrating as I enjoy it at Celtic and want to stay.



    “This is about the economy. I have played when I have been healthy and I feel I should be paid like the other players in that category, but the deal has been much worse. The salary must reflect my value.”



    Rogne has been at Celtic for two-and-a-half years, but will now face stiffer competition for a staring slot with Nigerian Efe Ambrose signing in the final day on the transfer window.

  26. Petec, there were cameras at the back of the stand. I assume


    they were for Celtic TV so may be on there at some point.



    Stpatricksbhoy, I’ll be at the next 2 games as well. Well impressed by the goalie and right back as well. Though Twardzik


    was very disappointing though. At the incident Kennedy felt


    there should have been a red card at, I though he’d overhit the


    ball into the box hence the ref thought he may not be in a position to shoot.


    I remember Tommy Burns bringing over a youth coach from Ajax to work with the Celtic youths not long into his stint as manager.


    I’m no football expert but perhaps going down that line on a


    permanent basis might be a good idea.


    BJMAC 1321



    Concensus has been reached,and you will be allowed a different coloured background from the rest of us.






    Coz yer speshul.



    How is the new venture doing?



    All well,I hope?

  28. thomthethim



    13:42 on 7 September, 2012




    I don’t think it matters who the coaches are or, what skills the players possess when the grooming process is over.


    The bottom line is….as soon as a player pulls on the green & white hoops, then they are fair game. Always has been and, always will be the way of it in this country. imo


    Surely the assaults carried out against James Forrest – this season alone, are all the evidence needed. imo


    Hail Hail

  29. Arch



    13:48 on 7 September, 2012




    Thanks for the info.




    Do we have a name for the RB yet, I think canamalar last night was also impressed by the young lad.

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