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Milanese mistakes, Sevco Annual Return

705

Milan’s mistake with their Champions League squad – they inadvertently included Stephan El Shaarawy in their restricted A List of players, instead of the B List, denying a place in either list for M’Baye Niang, is welcome news. Their squad is strong, with or without Niang, but the oversight lends credence to the notion that a malaise has settled over the club. Director, Umberto Gandini apologised, but already the Milanese are focused on what they don’t have in their armory as a result of the oversight – an excuse for failure is ready made.

I met the owner of an IT company shortly before they went into liquidation and asked him who he had on his board.  “Are you not on our board too?” was his jocular response.  The company had already gone through a couple of difficult years.  With each passing period investors became increasingly concerned; they all wanted a place around the boardroom table, convinced that their gilt-edged experience would be able to guide the company through its troubles.

The chief exec had to cope not-so-much with a boardroom full of captains of industry (which they were), as another pressure group to satisfy, along with clients, creditors, staff and the bank (they may have been weeks from liquidation, but they still had borrowing, this was not a Metro Bank deposit account-only operation).

The chief exec understood the industry and, left to his own devices, stood a sporting chance at survival, but when the boardroom table became occupied by a parcel of rogues the game was up.

On a completely separate matter, I am delighted at the prospect of Paul Murray and John McClelland having a second shot at being a non-executive director of a football club.  Wikipedia’s definition of the roles of a non-exec is worth a cursory glance to indicate why.  They did so well last time.  The others, who it is proposed will share a place at Newco’s table, also appear perfect for the role.  If only Sir David would come out of retirement and join them.

Will one of the many directors insist that The Rangers Football Club Ltd submits its Annual Return to Companies House? Under its previous name, Sevco Scotland Ltd, The Rangers Football Club Ltd bought liquidation assets from Duff and Phelps, and which, according to Rangers International’ PLC’s interim financial statement in March, was incorporated into the PLC’s group.

The Return is over two months late.  Perhaps, with so many directors available for comment, one will be asked by a journalist or shareholder why the company which bought all the assets has not submitted basic information, revealing ownership details. Perhaps not. No hurry, a striking off notice will be weeks away.
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  1. coatbridge paper bhoy on

    Tom, Happy BURPDAY , sixty candles are a good thing, hope your day and year is all you want it to be.

     

    Wishing you all the best for Monday

     

    Gb

     

     

    Ps, Broncos just beat the Dogs….. You happy?.

  2. fair point about another pressure group (kettling for the carcass?), but would directors not usually be jumping ship if the rocks were so close by? (normally being a director at an insolvency event might bar one from future involvement)

  3. When will the accounts be up to………Is it June 30th?

     

     

    That would allow them to show the books at their very very best would it not?

     

     

    TWO years of season book money plus the IPO windfall………….MINTED TIMMY!!!!!!!!

  4. Paul67

     

     

    Still no news on the accounts.

     

    Surely they will be out on Monday?

     

     

    EUFA Youth League — Any thoughts on why the home games have a 2pm kick off?

     

    West Renfrewshire and West Lothian are sub optimal regarding locations.

     

    However the 2pm weekday kick off time suggests the club does not want a crowd.

     

     

    Shame really.

     

    Interesting concept worthy of support.

     

    Will the games / highlights be on club TV?

  5. Gene's a Bhoy's name supporting wee oscar on

    Starry

     

    sincere condolence for your loss – may your mum rest in peace

     

     

    Tom

     

    Happy birthday – a watch? – the least she could have got you is a seat on sevco board

     

     

    hope the op goes well

  6. Starry…

     

     

    Condolences for the loss of yer ma

     

     

    But carry on in the manner she raised ye.

     

     

    God bless.

  7. tomtheleedstimsupportsweeoscar on

    The annual returns, for some Sevco directors at least, appear to be quite substantial.

  8. Phyllis Dietrichson on

    Celtic’s accounts came out on Sept 18th last year – how come people expect them (or indeed Sevco’s) earlier this year?

  9. Hoopy Birthday GCT – 60!

     

    Ya ole bassa :-)

     

     

    Starry – sincere condolences on your loss mate.

  10. Ticketus don’t seem to botherd these days, so I take it they are getting money from somewhere, well you would be getting all the money if you held the deeds, stupid me I forgot all about that……they must be coining it in with this Ramsden Cup run.

  11. I'm Neil Lennon (tamrabam) on

    tony

     

    i usually find myself disageeing with you, but think you are dead right

     

     

    however what I dont fully understand is, if ticketus own the deeds then how can rangers sell the park and rent it back?

     

     

    allegedly of course

  12. Ode to the Easdales new sevco board members

     

     

    Ones called Sandy

     

     

    Ones called James

     

     

    One was jailed for VAT fraud

     

     

    the other ones a ????????

     

     

     

    Needs some work

  13. Could some of the financial bhoys give me ammunition for my sevco infested workplace,,,,if any company has a EGM are they duty bound to produce accounts? If so is the £80k cost is a load of dung! When is the latest that sevco can produce accounts and what has happened to Hectors appeal?

  14. I'm Neil Lennon (tamrabam) on

    when i say rangers, of course i mean sevco 5088, or sevco scotland or The the rangers or rangers international or rangers in admin or whoever they claim to be nowadays

  15. Could some of the financial bhoys give me ammunition for my sevco infested workplace,,,,if any company has a EGM are they duty bound to produce accounts? If so is the £80k cost is a load of dung! When is the latest that sevco can produce accounts?

  16. Marrakesh Express on

    Just watched the manager’s post match (SK) interview.

     

    The man has left McCoist standing. The msm portrayed him as a trouble-making ned from the minute Martin signed him. They whipped up a hate campaign which played a role in several serious incidences.

     

    Neil Lennon has moved on despite this extreme provocation, while his one time rival Glasgow manager has gone backwards.

  17. G69

     

    It could delay tactics (infact it prob is) in the case that they can not get anyone to sign off there books , I could be wrong, but the silence from the SMSM tells you something is afoot, and it ain’t 12inches.

  18. This Podium malarkey – and I’m not knockin it – aye too was once a Podium chaser – has turned page 1 of any new article in to a complete write off, a rapid scroll by to avoid all the self indulgent drivel, and yes admittedly aye too have in my time posted a whole load of self indulgent drivel, just like this is. But yeah, page 1 a write off – thanks to SID

  19. let all the ex directors they want to come back to ibrokes,anything which will bring more laughter from “the only show in town”..please peter at the sfa dont ban any of these clowns from passing of as directors,their circus act needs them..they fooked up first time whats going to change with sevco?they just want a bite from the rotting carcase along with the spivs and hoodlums.

  20. Summa of Sammi….

     

    07:50 on

     

    5 September, 2013

     

    .

     

     

    VMhan..

     

     

    Looks like its Your Lucky Day..

     

     

    The Feijenoord Bhoys look like they have 2 Tickets for the HamsterJam Arena.. Getting them Today did Not know the were on Sale yet unless its today..

     

     

    Will text You later.. Seats are Together..*Double thumbs Up*

     

     

    001Bhoy

     

    *****************

     

    And if its from the source your talking about then even better (thumbs up)

     

     

    V

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