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Statement leaves Newco exposed

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By on CQN BLOG & Comments

Newco’s statement on their management team is worthy of some consideration:

“At a meeting with the management team’s representative earlier this week the Club were advised that Mr Warburton, Mr Weir and Mr McParland wished to resign their positions and leave the Club on condition that Rangers agreed to waive its rights to substantial compensation.”

A meeting with a representative of the management team, not with the manager, and not a resignation letter.

The club went on: “The Board urgently convened to consider the offer made on behalf of the management team and its ramifications and agreed to accept it and release the trio from the burden of compensation”.

If you agree to the terms of an offer made on behalf of someone, you really, really, need to get the signature of the individuals concerned. If you fail to get an agreement signed, you don’t have an agreement. If you don’t even appear to have a verbal agreement with your members of staff, you get on with your work as though nothing has happened.

They’d better hope Warburton, Weir and McParland get another job quickly, otherwise I predict another raft of court cases to be paid for.  This is a statement which suggests the authors have left themselves exposed.

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  3. VFR800 is now a Monster 821 on

    ITALIABHOY on 10TH FEBRUARY 2017 11:49 PM

     

     

    If they cannot meet the payroll or pay bills any creditor (even players) can start the ball rolling!

     

     

     

    KTF

  4. Gerryfaethebrig on

    TheTimReaper 11.40pm

     

     

    Just when you thought KT was the best, he gets better, young nephew is friendly with the family of Kieran’s girlfriend, obviously a lot of Celtic fans in both families, he is a wee star, great footballer but an impressive bhoy off the park as well

     

     

     

    I know think if I look up “living the dream” in the dictionary = Kieran Tierney

  5. ernie lynch on

    ITALIABHOY on 10TH FEBRUARY 2017 11:49 PM

     

     

    You’d have to assume any Mash deal is admin proof.

     

     

    It’s not like it wasn’t always likely.

  7. starry plough on

    ITALIABHOY

     

     

    I don’t think admin would set them free from His Big Mikeness, they would have to liquidate would they not to start a new holding company/International/parallel universe group of clubs.Pretty sure he’s got the hogtied.

     

     

    Snakes & Ladders @ sevco.com

  8. Phyllis Dietrichson on

    To James Forrest – I disagree with about 40% of your output, but I read all of it.

     

     

    Please, please do me a favour – don’t analyse or post tonight, or tomorrow. Let it all stew, and save it for an easySunday Morning.

  10. ernie lynch on

    I wonder how quick Warbs could start a court action and lodge an arrestment on the dependence?

     

     

    Or threaten to.

  11. VFR800 is now a Monster 821 on

    STARRY PLOUGH on 10TH FEBRUARY 2017 11:52 PM

     

     

    Correct. Fat Mike will still have his hold over them. They need liquidation to kill those contracts.

     

     

     

    KTF

  13. ABZMike on

    What a pleasant evening. Came home to a fresh delivery of logs for the fire, and merrily stacked them in the woodshed listening to an enjoyable and pleasant interview with BR on the radio. Just finishing up making tea and my phone pinged with the news that Warbo had walked. Then it seems he hasn’t, but he’s off anyway. A wee while observing the angst on SevcoMedia, including the administration rumour (which does appear to have legs), before returning tot the comforting embrace of CQN. All washed down with a glass or two of wine.

     

     

    If Carlsberg did Friday evenings at home…

  14. thetimreaper on

    GFTB

     

     

    I think we all look at him and think if we were lucky enough to pull on the shirt we would be like him.

  16. Chairbhoy on

    This is a sad, sad day for Scottish Football- What a shambles.

     

     

    Though it was long predicted the failure of Sevco demonstrates the bankrupt nature of the morality and capability of Scottish Football Establishment.

     

     

    The – Scotland need a strong Rangers myth, has been shown to be the abject nonsense we all knew it was.

     

     

    Almost to the week we’ve had 5 years of this conniving and congouling.

     

     

    Not at the expense, may I say, of Glasgow Celtic – but at the expense of other Clubs and Scottish Football in general who, unlike us failed to put together a post-Rangers strategy.

     

     

    They’ll need to now… Here’s the News…

     

     

    Rangers failed as a viable Football Club in Feb 2012.

     

     

    There were No options. No viable Continuities. No Journey…

     

     

    I say it’s a sad, sad day for Scottish Football but the statement today which for all intents and purposes heralds the demise of the NewCo. And in reality Sevco Rangers were IMO a lot worse that the Real Rangers, so maybe a few Clubs will grasp the nettle now.

     

     

    Hail Hail

  18. ItaliaBhoy on

    Was told a wee while ago Brian Kennedy wanted to buy out King. Price too high. Might change soon is cash really is so tight.

  19. A Ceiler Gonof Rust on

    Cracking post from “king Jela” on hunmedia in relation to the huns (new version) being in the deep shit.

     

     

    “This is f**king soul destroying, what was even the point in going through what we’ve been through only for it to happen all over again? I f**king hate life”.

     

     

     

    Ha ha …….. We won the European Cup Kin Jela. Get that right up you ya hun monkey.

  22. Thindimebhoy on

    Got it

     

     

    Warbos resigned then sevco sacked him

     

     

    Or warbo was sacked by sevco then he resigned

     

     

    Nope that’s too easy its something else

     

     

    Developing story……….

     

     

    Level five will need to spin like a centrifuge on this one csc

  23. roy croppie on

    It’s illuminating that so called journalists are saying sevconians will be disgusted when the truth comes out…they know the truth and aren’t willing to tell it…yet!

     

     

    quislingsCSC

  24. Gerryfaethebrig on

    Gordon64 11.55pm

     

     

    Spot on……. Let that mob wither and do whatever , for us it’s all about ICT

     

     

    TheTimReaper 11.56pm

     

     

    Exactly, if only we could have…….. KT must be an inspiration to the youngsters that are there just now, it’s great having players, like KT who would be watching in the stands if not playing…….they are the ones we worship

     

     

    PaulMcStayCSC

  25. praecepta on

    If they were to go into Admin and Hamdump say they’re the ‘same’ club – then they would be due a 25 point deduction which would put them joint bottom of the SPFL (currently).

     

    Sounds good to me – I’ve got £1 @750/1 on thems being relegated! :-)

  29. Auldheid on

    For me there is a kink in the narrative reported by The Sun and repeated in The Telegraph.

     

     

    Who is paying compensation to whom and for what?

     

     

    The suggestion is that MW got a pay rise that included a compensation clause.

     

     

    So were TRFC to be compensated by MW if MW failed to meet targets

     

     

    Or

     

     

    Were TRFC to be compensated if MW did reach targets making him attractive to other clubs?

     

     

    The more successful MW was the higher compensation TRFC would put in the contract but regardless would want compensation if he left to go elsewhere for any reason.

     

     

    Clubs tend to want compensated by other clubs if a manager is lured away so it’s pretty common.

     

     

    The downside for a manager wanting out of a job he is unhappy in is that the need to pay his club compensation makes him less attractive to pursuing club, especially if they have less expensive to recruit alternative.

     

     

    Now asking to allow themselves to be free to move without Forrest having to pay compensation fits that narrative and it is a win win for both sides.

     

     

    Forrest though lose interest so was a second approach made to reinstate the compensation element but did TRFC see in the situation a chance to dump MW and avoid compensating him?

     

     

    Given the skint nature of TRFC not to mention their meaness if spirit, which narrative is more likely?

  31. starry plough on

    They said there’d be dough at Sevco

     

    They said there’d be a piece at Ibrox

     

    But instead The Breadman kept losing

     

    Through bitter tears the Orcs looked on.

     

     

    They sold me a dream of Sevco

     

    With floating fields and casinos bright

     

    Jabba spun and spun more fairy stories

     

    Till I believed in the Warby lite

     

     

    They looked to the sky with blue tinted eyes

     

    And saw a magic hat was a poor disguise

     

    So rip up your sash, through away your scarves

     

    The Sevco you got you deserve…

     

     

    With sincere apologies to Greg Lake…

  33. Gerryfaethebrig on

    ACGR

     

     

    I take it King Jela……is for Jelavic ? Is that in “honour” of Jelavic another player the tax evaders couldn’t afford ????

     

     

    The Huns old or new don’t do irony………

  34. ItaliaBhoy on

    Auldheid, I think yes, that’s what happened.

     

     

    Sevco saw a chance to get rid of them and took it.

     

     

    Warbs stitched up -though he was clearly looking around at other opportunities.

     

     

    FUBAR, is the term, I think.

  41. The Onlooker on

    Was looking for the lunar eclipse but it clouded out in West Lothian.

     

     

    However it suggested an appropriate song for The end of times….. some spot on lyrics for the Tribute Act

     

     

    I see a bad moon rising

     

    I see trouble on the way

     

    I see earthquakes and lightning

     

    I see bad times today

     

     

    Don’t go round tonight

     

    Well its bound to take your life

     

    There’s a bad moon on the rise

     

     

    I see the hurricanes a blowing

     

    I know the end is coming soon

     

    I fear rivers overflowing

     

    I hear the voice of rage and ruin

     

     

    Chorus

     

     

    Hope you got your things together

     

    Hope you are quite prepared to die

     

    Looks like we’re in for nasty weather

     

    One eye is taken for an eye

     

     

    Chorus

     

     

    The Onlooker

  42. Hunderbirds are Gone on

    All this conflicting information released tonight had me in a state of confusion. Warbs has resigned. Warbs hasn’t resigned. Wtf?

     

     

    So I contacted Arnold, and as he is a chartered accountant with an in depth knowledge of Sevco, he was able to clarify matters for me.

     

     

    It only appears that Warbo had resigned. In reality he has not resigned. Warbo’s holding company vehicle has resigned, and is no longer with Sevco, but Warbs himself is still there.

     

     

    I hope that clears things up for everyone.

     

     

    Thanks Arnold :)))

     

     

    HH

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