Two important questions for Sevco share issue


There are two questions to look out for when The Rangers provide information on their public offering share issue:

Are the public being offered shares at the same price as investors who sign up prior to the public offering?

In 1994 Fergus McCann offered you shares in Celtic at exactly the same price he paid, giving fans the same value as the consortium which acquired the club from the old board.  Will Charles Green do the same?  A £20m offering will dwarf the existing share pool but, if the new shares are worth a lot less, the existing shareholders will be able to retain control and the majority of benefits.

How will the prospectus explain to investors the potential consequences of the SPL Commission, and any future investigation if the First Tier Tribunal report, due this month, finds that Rangers did not pay their social taxes as Fifa regulations require?

The SPL Commission into the improper registration of players at Rangers, whose SFA membership the new company acquired, will, if Rangers are found guilty, impose sporting and financial penalties on the successor club which is benefiting from its membership.

If guilty, this will involve the return of prize money for each of the 12 years which are under scrutiny.  The league awards prize money to each member club from TV income with the top two clubs earning a significant slice. This alone could consume the majority of funds from the share issue.

Sporting penalties would also be a consequence of a guilty verdict.  There is no reference point in world football for issues on this scale, so speculation on what the penalties would be can only be regarded as such, but, if The Rangers eventually win promotion to the SPL, they are likely to face points deductions for multiple years, making it difficult to gain access to lucrative Champions League revenue streams.

The latter question will considerably influence when the new company can hope to break even and allow an informed estimate to be placed on the scale of working capital requirement.

Former directors of Rangers, including Sir David Murray, remain confident HMRC will not succeed at the First Tier Tribunal, but the possibility remains that the verdict will go against the soon-to-be-liquidated club, leading to a fresh wave of football penalties.

The Rangers should now issue potential investors with enough information to decide if this week’s Forbes Magazine article questioning the club’s feasibility is accurate. It should be quite a read.

Although the Sevco consortium promised a share issue since before they bought the assets of Rangers today’s announcement has the appearance of something carried out in haste.  The domain name for investors to register interest ( was only registered yesterday and there is no web site yet.  Visitors are presented with an alert from their browser informing them that the web site they are visiting has a problem with its security certificate.

Why the hurry?

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  1. Steinreignedsupreme on

    Sevconia is built on sand – known locally as the Jock Wallace Dunes.



    The surface of Sevconia prohibits the development of natural plant life, but paranoia and myth spread like bindweed all year long.



    Lest we forget the national flower of Sevconia is the manufactured poppy.

  2. Celtic who have a host of talented players on long term contracts and are also participating in the CL and will pocket £20 Million from the competition are valued at £33 Million.



    Green values a Scottish Third Division club, who have a transfer embargo and Kevin Kyle on a one year contract at £40 Million.



    Roll-up Roll-up ya stupid zombies…

  3. I can’t believe the huns will fall for this……. have they learned nothing from North Haverbrook?



    hehehe… etc.

  4. Newgate Threadneedle handles Rangers Football Club IPO



    Matt Cartmell,, Thursday, 11 October 2012, 10:09am, Be the first to comment



    Rangers Football Club’s intention to float on the London Stock Exchange is being handled by Newgate Threadneedle.







    The Scottish football club has announced this morning that it intends to seek admission to the AIM market of the London Stock Exchange.



    Newgate is handling the IPO and all ongoing financial PR in a retained brief. The agency was appointed two months ago following a competitive pitch process and has been working behind the scenes to prepare for today’s announcement.



    Newgate MD Graham Herring is leading the account. He explained that the agency was already making plans about next year’s activities.



    He said: ‘We’re handling the IPO process and there are also ongoing activities. It’s a very good opportunity.’



    Herring will lead a four-strong team including client adviser John Coles.



    The plan is for the club to raise up to £20m through an institutional investor placing and limited public offering.



    The club explained that the funds raised would be used for ‘strengthening the player squad, improving and developing the club’s properties and facilities, as well as providing additional working capital’.



    It is anticipated that admission will become effective before the end of the year.



    Commenting on the announcement Charles Green, chief executive of Rangers, said: ‘Rangers is debt-free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas. Our aim is to return the club to its glory days while ensuring it is run efficiently and profitably.’



    The appointment will not affect Rangers’ existing relationship with Media House International, which continues to handle a media relations brief following its appointment last July.

  5. Philbhoy - It's just the beginning! on




    Is that the same thing as Desmond having fancy shares that pay him a huge dividend, whereas my shares have paid me brussell sprout since I bought them years and years ago?

  6. CG … name will be the running man



    the fine detail will will out the truth


    just cannot wait to apply for my share prospectus ;-)))))


    that will be christmas sorted




  7. Paul67



    Why the hurry?



    The lookout on the corner has just shouted to the guy with the suitcase of counterfeit watches that the polis are on the way.



    Spivs in a country being run by them.

  8. Philbhoy – It’s just the beginning!



    Your a Brussel Sprout better off than the zombies will be. lol!

  9. Brogan Rogan Trevino and Hogan supports Kano 1000 on




    Tour de France is undoubtedly the toughest sporting event on the planet.



    Huge pressure to Dope and effectively there has been not one winner between Indurain’s last win and Cadel Evans in 2010 who has been dope free!



    Kimmage has raised issues with Dave Brailsford — the Director of Cycling in the UK– about the British teams links with some known doping doctors, and where he was being spoken to before he is now being shunned.



    Also note that one of the Doctors named in the USADA report who was banned for life re Cycling– was an adviser to Barcelona FC a few years back– although Barca deny that he was “on the payroll”– however he as there for some reason in some capacity!





    I thought Blinker was pants



    That link features the documentary on Big Jock and the initial 45 min programme on the Armstrong affair– both are very good.

  10. Auldheid,11:13


    I can’t see that reference on Spiers’ twitter page. Could you post a link?

  11. I suppose the question begs to be asked, if the people who love “Rangers” were prepared to invest 20 million, why didn’t they do it several months ago when it could have saved them from the humiliation of liquidation ? There is no doubt this share issue is a dead duck before it starts. Administration for this version of “The Rangers” is only around the corner IMO.

  12. Will the prospectus provide a value for the heritable property?



    Will the figure be closer to £1.5m or £120m?

  13. GooooooooooooooooooooooooooD



    …………… Afternoon………………………..






    Cooler today…………………. Only 29°




  14. As Paul and Gordon j have said, shares in what? What do the accounts look like now? Where is the £30m Chuck promised to be in place by July? Where are the 3 billionaire investors? Where is the adidas contract? Where is the Dallas Cowboys link up? Who owns what at Sevco?


    These are ignored by the sevconians and the media and from RTCs tweet yesterday there are very bad times ahead for Sevco.


    Could be another cracking Christmas and 2013 HH

  15. Auldheid,11:13



    Fake Spiers account. The real one is @grahamspiers, the investor pulling out and admin is @spiersgraham

  16. tomtheleedstim:






    They are the financial wing of Media House. Pump up the ‘bull’ time. Watch Jabba and his troopers become brokers whores shortly.



    What are the safeguards against fraud on behalf of a dubious company motivated to an initial public offering?



    Who could be held accountable if it all goes pear-shape?

  17. Tomtheleedstim, “have they learned nothing from North Haverbrook?” Ha!



    Auldheid, I hear you.



    Big Joe, 29 degrees? Nice.

  18. I suggest we all declare an interest from 5 pm tonight.


    Would be a shame not to carry this charade onwards and the longer it goes the more lies need to be told.


    However at some point true funding and accounts will have to be divulged.


    All extensions and prospectus will of course cost money, lets all ask for the details.



    If Hampden is a 5 star Uefa stadium then you would not want associated with this mark.


    A poor playing surface, badly designed viewing from all areas of the stadium, poor eating and toilet facilities and filled with bad administrators.


    Owned by an amatuer club and administered by amatuers paid as professionals.

  19. Aaah ——- Newgate Threadneedle ? .



    The Daily Torygraph felt moved to say this ———-



    ” a tendency to play fast and loose with the facts “.



    It will be interesting to see how ” loose ” they are with the valuation of the heritable property .

  20. tigertim:



    I don’t – think – they have to publish any figures or a prospectus if their nominated ‘nomad’ is prepared to vouch for them and can – privately – assure the AIM of the integrity and health and potential of the company it represents.



    ring-a-ring a mason.

  21. Paul…. If found guilty of dual contracts will euro teams whom missed out on CL revenue have a claim for losses ?

  22. The Spirit of Arthur Lee on

    The missus bought a paperback,


    at the shops on Saturday,


    I had a look inside her bag;


    It was “Fifty shades of grey”.



    Well I just left her to it,


    At ten I went to bed.


    An hour later she appeared;


    The sight filled me with dread.



    In her left hand she just held a rope;


    And in her right a whip!


    She threw them down onto the floor,


    And then began to strip.



    Well fifty years or so ago;


    I might have had a peek;


    But Doris hasn’t weathered well;


    She’s eighty four next week.



    Watching Doris bump and grind;


    Could not have been much grimmer.


    Things they went from bad to worse;


    She toppled off her Zimmer!



    She struggled up upon her feet;


    And a couple minutes later;


    She put her teeth back in and


    Said -that I must dominate her!!



    Now if you knew our Doris,


    You’d see just why I spluttered,


    I’d spent two months in traction


    For the last complaint I’d muttered.



    She stood there nude, all naked like;


    Bent forward just a bit.


    I thought what the hell and stepped forward,


    and stood on her left t*t!



    Doris screamed, her teeth shot out;


    My god what had I done!?


    She moaned and groaned then shouted out:


    “Step on the other one”!!



    Well readers, I can’t tell no more;


    About what occurred that day.


    Suffice to say my jet black hair,


    Has turned “Fifty shades of Grey”.

  23. Paul does the 3-0 auto rewriting of results apply to European comPs if players weren’t reg properly?

  24. traditionalist88 on

    ‘Former directors of Rangers, including Sir David Murray, remain confident HMRC will not succeed at the First Tier Tribunal, but the possibility remains that the verdict will go against the soon-to-be-liquidated club’







    Possibility?! :)




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