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Newco’s potential investor

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Just a short one while we await the Uefa meeting to breakup.  I see the press have caught up on the information I left on CQN on 11 March about the potential investor in Newco.  Then, I wrote, “If [The Sun) 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.”

A month ago, Newco were the only club in Scotland facing a financial crisis, today, almost all are, but Newco’s situation is acute.  No Paisley-born-boy-did-good is going to change that.  There’s lots more going on here than I can write about or that others will.  Good luck to Stuart Gibson, if he signs that P.G.

Oh, and their new PR man, goodness!

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271 Comments

  1. Paul67 et al

     

     

    I see that while UEFA has “postponed” the Euros until 2021, the playoffs, due to be played next week, are to be rescheduled to June this year. Two things, one that would impact 4-5-6 Celtic players, (that’s not the line-up btw), and two it presumably allows the SFA to hang on to the ticket money from the sold out Scotland-Israel match. That’s the spirit.

  2. I would suggest that this guy will not put any money into Rangers. He could not be described as a successful Businessman if he did.

     

     

    It’s black propaganda.

  3. Just what in Scotland,does it mean to invest millions in a club.We have heard it all before.Initially,I assumed that King would be selling up and heading out.It seems not,but who can tell with him.Now we are being told of a new share issue.Just how many is that.A single sheet of Andrex will be worth more than a Hun share at the moment.

     

    With SD claim still outstanding,and the £7 million shortfall from this season,probably now,a lot more,just how many millions will be forthcoming.No kit deal on the table,just what would change?

     

    Nothing.

  4. whitedoghunch on

    Neustadt-Braw on 17th March 2020 2:33 pm

     

     

    How many Welshmen are in that clip playing for us ?

  5. Neustadt-Braw on

    WHITEDOGHUNCH on 17TH MARCH 2020 2:53 PM

     

    Neustadt-Braw on 17th March 2020 2:33 pm

     

     

     

     

     

     

    How many Welshmen are in that clip playing for us ?

     

     

    smiley you have got me there….thing

     

     

    I will go with 3 ….

     

     

    Braw

  6. BANKIEBHOY1 @ 2:50 PM,

     

     

    Some chance:))))

     

     

    No they will have to rely on the good offices of the SFA and their famous fit and proper test…

     

     

    … so good luck to the sevcovians on that one.

     

     

    NEUSTADT-BRAW @ 2:21 PM,

     

     

    Hope you and yours are safe and braw…

     

     

    That does not surprise me. Also add to that the UK Government aren’t forcing closures, just telling many businesses’ customers and clients not to use them – it could be dire for employees and businesses in many sectors such as hospitality with no recompense to Government or Insurance.

     

     

    A few days after 9/11 I had a morning meeting at one of the big re-insurance companies in London, they pushed the meeting back. When I came in, the delay was due to a company meeting. The company had told the employees (this is my untechnical jargon) that the companies total exposure could be met from their current account.

     

     

    As you are probably aware, Insurance companies invest huge sums in the market and elsewhere, it seems like they and their friends are keen to munimise exposure.

     

     

    Hail Hail

  7. Would love to ask the new hunguffery spokesman for the deluded,

     

    “Where in any of the worlds religious books,does it mention Dinosaurs”.

     

    Maybe that’s why they built the Pyramids,to get up high away from them.

  8. So UEFA have made a decision that they could have made independently of the input of the 55 associate members. What was the point of calling the meeting. They have no direct power over club football, that is held by the leagues. The power they have is in the, money spinning, competitions, they run so expecting any guidance from them is a waste of time.

     

    The problem with football starting up again in 3-4 months is that players lose their cutting edge and fitness and contracts expire.

  9. Neustadt-Braw on

    CHAIRBHOY on 17TH MARCH 2020 3:06 PM

     

     

    thank you I am doing brawily….

     

     

    smiley my hand sanitiser of choice today is Krombacher Pilsner thing

     

     

    Braw

  10. CONNAIRE12 on 17TH MARCH 2020 2:45 PM

     

    Beautiful words indeed – thanks for posting.

  11. Connaire12

     

    Lovely words from your big pal

     

    Hope you are well, missed you at our last home game

  12. Viruses will always try and mutate or find another host to stay alive ..

     

     

    Oldco/newco .. Paisley guy/King/ Craigy Bhoy

     

     

    The virus needs a new, healthy host for its descendents to survive. If it kills its host before the host infects others, that mutation will disappear.

     

     

    What state will sevcos finances be in after a few months without revenue?

     

     

    Long story short..

     

     

    Coronavirus obliterates societal scourge/virus 😆

  13. John1314mac

     

    There will be a government package underwriting loans to keep businesses afloat – sevco will be first in the queue

  14. TUESDAY 17TH MAY 1981

     

     

     

    Lá Pádraig inniú ‘s mar is gnách níor thárla aon rud suntasach, bhí mé ar aifreann agus mo chuid gruaige gearrtha agam níos gaire, agus é i bhfad níos fearr freisin. Sagart nach raibh ar mo aithne abhí ag rá ran aifreann.

     

     

    Bhí na giollaí ag tabhairt an bhia amach do chách abhí ag teacht ar ais ón aifreann. Rinneadh iarracht chun tabhairt pláta bidh domhsa. Cuireadh ós cómhair m’aghaidh ach shiúl mé ar mo shlí mar is nach raibh aon duine ann.

     

     

    Fuair mé cúpla nuachtán inniú agus mar shaghas malairt bhí an Nuacht na hEireann ann. Táim ag fáil pé an scéal atá le fáil óna buachaillí cibé ar bith.

     

     

    Choniac mé ceann dona dochtúirí ar maidun agus é gan béasaí. Cuireann sé tuirse ormsa. Bhí mo chuid meachain 57.50 kgs. Ní raibh aon ghearán agam.

     

     

    Bhí oifigcach isteach liom agus thug sé beagán íde béil domhsa. Arsa sé ‘tchim go bhfuil tú ag léigheadh leabhar gairid. Rudmaith nach leabhar fada é mar ní chrlochnóidh tú é’.

     

     

    Sin an saghas daoine atá iontu. Ploid orthu. Is cuma liom. Lá fadálach ab ea é. Bhí mé ag smaoineamh inniú ar an chéalacán seo. Deireann daoine a lán faoin chorp ach ní chuireann muinín sa chorp ar bith. Measaim ceart go leor go bhfuil saghas troda.

     

     

    An dtús ní ghlacann leis an chorp an easpaidh bidh, is fulaingíonn sé ón chathú bith, is greithe airithe eile a bhíonn ag síorchlipeadh an choirp. Troideann an corp ar ais ceart go leor, ach deireadh an lae; téann achan rud ar ais chuig an phríomhrud, is é sin an mheabhair.

     

     

    Is é an mheabhair an rud is tábhachtaí. Mura bhfuil meabhair láidir agat chun cur in aghaidh le achan rud, ní mhairfidh. Ní bheadh aon sprid troda agat. Is ansin cen áit as a dtigeann an mheabhair cheart seo. B’fhéidir as an fhonn saoirse.

     

     

    Ní hé cinnte gurb é an áit as a dtigeann sé. Mura bhfuil siad in inmhe an fonn saoirse a scriosadh, ní bheadh siad in inmhe tú féin a bhriseadh. Ní bhrisfidh siad mé mar tá an fonn saoirse, agus saoirse mhuintir na hEireann i mo chroí.

     

     

    Tiocfaidh lá éigin nuair a bheidh an fonn saoirse seo le taispeáint ag daoine go léir na hEireann ansin tchífidh muid éirí na gealaí.

     

     

    (Translated, this reads as follows:)

     

     

    St Patrick’s Day today and, as usual, nothing noticeable. I was at Mass, my hair cut shorter and much better also. I didn’t know the priest who said Mass.

     

     

    The orderlies were giving out food to all who were returning from Mass. They tried to give me a plate of food. It was put in front of my face but I continued on my way as though nobody was there.

     

     

    I got a couple of papers today, and as a kind of change the Irish News was there. I’m getting any news from the boys anyway.

     

     

    I saw one of the doctors this morning, an ill-mannered sort. It tries me. My weight was 57.70 kgs. I had no complaints.

     

     

    An official was in with me and gave me some lip. He said, ‘I see you’re reading a short book. It’s a good thing it isn’t a long one for you won’t finish it.’

     

     

    That’s the sort of people they are. Curse them! I don’t care. It’s been a long day.

     

     

    I was thinking today about the hunger-strike. People say a lot about the body, but don’t trust it. I consider that there is a kind of fight indeed. Firstly the body doesn’t accept the lack of food, and it suffers from the temptation of food, and from other aspects which gnaw at it perpetually.

     

     

    The body fights back sure enough, but at the end of the day everything returns to the primary consideration, that is, the mind. The mind is the most important.

     

     

    But then where does this proper mentality stem from? Perhaps from one’s desire for freedom. It isn’t certain that that’s where it comes from.

     

     

    If they aren’t able to destroy the desire for freedom, they won’t break you. They won’t break me because the desire for freedom, and the freedom of the Irish people, is in my heart. The day will dawn when all the people of Ireland will have the desire for freedom to show.

     

     

    It is then we’ll see the rising of the moon.

  15. The Battered Bunnet on

    It’s a comforting place, CQN, at times like this. So many lovely people read and post on this blog, creating not a virtual space but an actual community that is a pleasure to be part of. Thanks All.

     

     

    Football-wise, the final whistle has been blown and we’re looking at a very long close season. The numbers involved with coronavirus are difficult to grasp let alone contemplate, but the outlook is that it will change our way of life profoundly. For football – an avidly pursued distraction for most folk – my sense of it is that the game’s a bogey. What emerges in a year or two will be as changed as the society that the game exists within – talk of restarting in the summer is no less hopeful than talk of restarting on 3rd April was last week.

     

     

    Football has stopped. The problem for football clubs – beyond the blindingly obvious – is that football contracts have not stopped. Payroll will be run as usual at the end of the month and needs to be met, and it needs to be met at the end of every month looking ahead without any realistic prospect of revenue coming in.

     

     

    In the context of Sevco, that’s about £3.5M per month on staff costs, of which £2.5M is fixed contract football players. The wages need to be paid for as long as the contract remains current.

     

     

    While there will be receipts outstanding from UEFA and SPFL, most of it for this season has already been received, banked and spent.

     

     

    Many operating costs can be reduced while there are no fixtures to resource, you might even be able to mothball the club almost entirely, but footballer payroll needs to be met.

     

     

    For the very much on-the-radar Mr Gibson, the game has changed too. Plans to underwrite the cashflow of a trading business is one thing. Plans to finance the bridge between suspension and restart of the game in the summer is another. But the outlook is such that the financing requirement is ongoing for an indefinite and extended period. In the cold light, he can kiss goodbye to maybe £30M cash simply to have the privilege of paying the contracts of (often) millionaire footballers at a club he doesn’t own until finally the game restarts sometime in the future.

     

     

    Simultaneously, his business is commercial property in the Far East, a region no less immune from the economic fallout of the pandemic, and a sector that is always challenged when property values decline in step with economic contraction.

     

     

    His immediate concern is surely protecting his company such that there is even a company at all when business returns to some new normal.

     

     

    I’m sure he is wealthy beyond the touch of most of us, but his wealth will be invested – not only in his own firm from which doubtless he’s profited handsomely over the years – but in myriad other funds, schemes, stocks, shares and whatnot. As a ball park figure, whatever the value of his investments on 1st January this year, they’re now worth 30% less. Now is no time to be selling shares at a loss in order to generate cash to plug an indefinitely large hole in a Scottish football club, let alone one that loses £1 million per month when there is actually football to play.

     

     

    One last point on this, which will not be lost on the directors of every club; It’s season ticket renewal time, and even absent a fixture list or even a season, many fans will renew their season tickets. The problem is, with the reality that no fixtures are scheduled, and no certainty that any fixtures will be played at all, any money received from renewals cannot be applied to cover costs in the interim.

     

     

    Strictly speaking, the club owes the season ticket holder the money until and unless fixtures are played. Any receipts are held on trust and should be placed in escrow, legally protected, until there is clarity on a new season. Spending the money in such circumstances is unlawful and perhaps even criminal.

     

     

    And I didn’t even mention the £3.5M in refunds that will be due paid to season ticket holders if the remaining 4 matches in the now mothballed season are never played.

     

     

    Good luck Gibbo.

  16. Tuesday 17th March was the final contribution that Bobby Sands made to the diary which he’d begun 17 days earlier. He was to die at 1:17am on May 5th 1981 after 66 days without food.

     

     

    RIP Bobby Sands MP

  17. Neustadt-Braw on

    thank you for your posts HamiltonTim….much appreciated …

     

     

    may you and yours stay safe ….

     

     

    Braw

  18. Corona doesn’t like hot countries .. was looking at the infection rates on this ..

     

     

    https://www.worldometers.info/coronavirus/#countries

     

     

    Then I checked winter temperatures in Iran .. which aren’t too similar to Europe’s at this time of year ..

     

     

    So, here’s hoping it heats up soon .. some long term forecasts are indicating it will 👍

     

     

    https://www.metoffice.gov.uk/about-us/press-office/news/weather-and-climate/2019/2020-global-temperature-forecast

     

     

    Gene .. Sevco will be away down the list of priorities after this is over .. the longer it goes on the bigger economic impact will be .. probably be another recession once the dust has settled

  19. CORKCELT on 17TH MARCH 2020 1:46 PM

     

     

    Oh, Paddy dear and did you hear the news that’s goin’ round?

     

    The shamrock is by law forbid to grow on Irish ground

     

    Saint Patrick’s Day no more we’ll keep his colours can’t be seen

     

    For they’re hanging men and women for the Wearin’ o’ the Green

     

     

    *the 2nd song I was taught in music class at St Patrick’s Dumbarton, the 1st was the school song with the chorus “St Patrick’s Forever”. The latter was written by the head music teacher a ken dodd fae the Vale of Leven.

     

     

    It should be noted that after Culloden the same government that banned the “Wearing of the Green” also banned wearing tartan and speaking Gaelic, there was one exemption to this, the black watch regiment.

     

     

    Someone should educate that nutty rule britannia mob.

  20. I f Covid 19 leads to Hairdressers/Barbers closing shop for a few months, we could see some interesting coiffures on our streets !

  21. Hail Glorious St Patrick dear Saint of our isle. But what isle is that.

     

     

    It’s of course the mother country as we Scottish Catholics call it. However, St Patrick or Patricius to give him his Roman name was not Irish but born in Scotland no matter what the Cymri or Romans say.

     

     

    He was born near the town of Dumbarton, in the west of Scotland, about the year 372 of the Christian era. His father Calpurnius, was in a respectable station in life, being municipal magistrate in the town in which he lived; conjecture has it as being Kilpatrick.

     

     

    His father is believed to have come to Scotland in a civil capacity with the Roman troops, under Theodosius. His mother Cenevessa, was sister or niece of St Martin, bishop of Tours; and from this circumstance, it is presumed that his family were Christians.

     

     

    In his sixteenth year, up to which time he had remained with his father, he was taken prisoner, along with his two sisters and carried over as captive to Ireland.

     

     

    Here he was reduced to a state of slavery, in which he remained for six or seven years with Milcho, a petty king in the northern part of that country.

     

     

    At the end of this period, he effected his escape in a ship to France, and repaired to his uncle at Tours, who made him a canon regular of his church.

     

     

    St Patrick had already entertained the idea of converting the Irish. During the period he studied he was sent to Rome with recommendations to Pope Celestine, who conferred upon him ordination as a Bishop, and furnished him with instructions and authority to proceed to Ireland to convert its natives.

     

     

    On this mission in 432, he sailed for Ireland from Wales, which is possibly where the Cymru connection comes from, having come first to Britain from France, and attempted to land at Wicklow, but being here opposed by the natives, he proceeded along the coast, till he came to Ulster, where, meeting with a more favourable reception, he and his followers disembarked.

     

     

    He soon afterwards obtained a gift of some land, and founded a monastery and a church; from this establishment he gradually extended his ministry to other parts of Ireland. During this time, he paid frequent visits to the Western Isles in Scotland, with the view of disseminating there the doctrines which he taught. Being now far advanced in years, he resigned his ecclesiastical duties in Ireland, and returned to his native country, where he died.

     

     

    He was buried at Kilpatrick—this, indeed, appears all but certain from many circumstances, not the least remarkably corroborative of which is, the name of the place itself, which signifies, the word being a Gaelic compound, the burial place of Patrick—that he died about the year 458; and that he was about eighty-six years of age when this event took place.

  22. WEEROCH1 on 17TH MARCH 2020 12:40 PM

     

     

    With the references to st. patricks day and hail glorious st Patrick it stirred a memory.

     

     

    I was first taken to parkhead in early 60’s and kind of recall a song sung to tune of hail glorious St Patrick. It had words along the lines of:

     

     

    ” in the war against rangers ,in the fight for the cup Jimmy mcgrory put the Celtic 1 up”

     

     

    Does anyone else recall this and indeed do they have the words???

     

     

    *This song which I first heard on the old Vale of Leven CSC bus in the 50’s was about the SC Semi 4 days after St Patrick’s Day when we beat deidco 5-0 in 1925, we NEVER forget.

     

     

    “In the war against r*****s in the fight for the cup

     

    Jimmy McGrory put the Celtic 1 up

     

    He’s done it before and he’ll do it again

     

    Oh Jimmy McGrory the pride of Parkhead

     

    Oh Jimmy McGrory, Oh Jimmy McGrory

     

    Oh Jimmy McGrory the pride of Parkhead”

     

     

    We also sung:

     

     

    “we’ll be running round hampden with the cup

     

    we’ll be running round hampden with the cup

     

    we’ll be running round hampden, running round hampden

     

    running round hampden with the cup”, to which we later added 7 up.

     

     

    There was also:

     

     

    “by 1 by 2 by 3 by 4 by 5

     

    by 1 by 2 by 3 by 4 by 5

     

    we’ll beat the r*****s any day as long as we’re alive

     

    by 1, 2 3, or 4 or 5 and again we added 6 or 7.

  23. Evnin all – another multimultitrillionaire is heading Govan way – bet he doesn’t have any big roll😀

  24. Hunderbirds are Gone on

    TBB

     

    “But the outlook is such that the financing requirement is ongoing for an indefinite and extended period. In the cold light, he can kiss goodbye to maybe £30M cash simply to have the privilege of paying the contracts of (often) millionaire footballers at a club he doesn’t own until finally the game restarts sometime in the future.”

     

     

    When you put it like that, then I can see the attraction in investing in Sevco… 🤪

     

    🍀⚽️

  25. TURKEYBHOY on 17TH MARCH 2020 3:08 PM

     

    Would love to ask the new hunguffery spokesman for the deluded,

     

     

     

     

    “Where in any of the worlds religious books,does it mention Dinosaurs”.

     

     

     

     

    Maybe that’s why they built the Pyramids,to get up high away from them.

     

     

    ———

     

     

    I wonder how he feels about the team working on the Sabbath

  26. Thanks HT and may God Bless you Bobby Sands, for the courage you have shown. May your glory and your fame being widely known.

     

     

    Stay safe folks…..

  27. !!Bada Bing!! on

    PRESTONPANS BHOYS on 17TH MARCH 2020 1:46 PM

     

    Did Bada miss Judith’s weather😱😱😵report!

     

     

    Caught it👍,one of the few constants left mate…

  28. !!Bada Bing!! on

    Went to Morrisons for the mother in law, some fuds had trolleys so full,they couldn’t steer them straight, was like the Fil Rouge part of It’s a Knockout back in the day.