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. “We had one of the big German financial papers come to do a big article on the club along with publications from France and America.


    “People have taken an interest in Rangers and not just the sporting press worldwide but the financial press too.”



    Green’s not lying about interest from the American Financial Press. You just to have to take one look at that Forbes article to see that….:-)



  2. Neil canamalar Lennon hunskelper extrordinaire on



    the athletics bit was kicked into touch a long time ago, but if I’m mistaken you’ll easily find a recent reference to the name you insist still exists.

  3. Henriks Sombrero on

    Zombies are fair game after all !



    STV Sport ‏@STVSport


    Celtic have been found not guilty on an SFA charge following complaint over fans’ behaviour against Norwich

  4. tomtheleedstim



    The thing that got me about that piece. newco have a financial director.


    I thought they just winged it.

  5. Worst article in years. I’m beginning to think all the sevconians are right – certain elements of the Celtic support are obsessed with them.



    Celtic Quick News? Yer having a laugh…

  6. South Of Tunis on

    Love the vision of Green and Ahmad meeting potential investors on Wall Street .



    I did a lot of work on Wall Street . I was often wined and dined in two bars —



    The Pound and Pence .



    The Full Shilling .



    Oh – please let it be

  7. traditionalist88 on

    Teuchter ár lá



    Sure theres a facebook page for ‘Coventry Celtic’, not sure how active but looks like they may have a crowd who get together for games anyway




  8. Not guilty because the Green Brigade took a different banner into the game than the one posted on-line and subsequently e-


    mailed to the SFA.



    Stupid, zombie huns…

  9. recent update on Wee



    OscarWee Oscar has had a great night, thanks for all your messages of love and support which has been overwhelming!


    Lots of you are asking if you can send a card or a gift can we ask that you send a donation instead to either just giving – weeoscar4life or by texting KNX99 and the amount £3, £5 £10 etc to 70070 (UK only)


    Immunotherapy in Philli might not be an option but we are not giving up yet! #TeamOscar!



    Like · · Share · 1,2085130 · 2 hours ago ·

  10. TheGreenManalishi(WithTheTwoProngedCrown) on

    Taken straight from last years’s annual report – which should clarify the corporate structure. N.B. Company = Celtic Plc




    The Company’s subsidiary undertaking continued to be Celtic F.C. Limited, the main activity of which is the operation of a professional football club.


    In turn, Celtic F.C. Limited holds 100% of the issued ordinary share capital in each of the following companies:


    Subsidiary undertaking Activity


    Protectevent Limited Dormant


    Glasgow Eastern Developments Limited Management of properties


    The Celtic Football and Athletic Company Limited Football club management & promotional services


    These companies are registered in Scotland and are all included in the consolidated financial statements.

  11. “We announced recently that David Murray has agreed to sell Edmiston House back to the club and we want to turn that into a megastore and a café/bar.”



    Eh? They had a megastore, it didn’t make money, they have sold out to sports direct, is this mega store owned by SportsDirect ( or by The Rangers??


    A cafe, a money spinner if ever there was one!!!


    What happened to the cancer care from last week??

  12. Neil canamalar



    What’s all this about Athletics??!!



    It’s ATHLETIC!!



    Go on to the Celtic Wiki and you will get all the information there!



    Or pick up a copy of the ‘Celtic View’, go to page 3 where, among other things, you will find a list of Celtic plc directors, as well as a list of the CELTIC FOOTBALL AND ATHLETIC (singular) CLUB directors!



    Maybe everyone else is wrong ‘tho – and you are right!




  13. Teuchter ár lá , The Battered Bunnet , cheers for the replies



    Starting on monday so i’ll check out a few places .







  14. Beggar it ,I’ve been on Wall street ,no investors were interested in my snakebelt collection.


    Maybe I should diversified fae the ole green/gold combo.

  15. One of the AIM nomad firms is?



    Zeus Capital!



    Fill your boots ya stupid zombies! lol!

  16. Neil canamalar Lennon hunskelper extrordinaire on



    that does not identify who owns 100% of Celtic FC Ltd


    It shows what Celtic FC Ltd owns

  17. FF have dismissed the Financial Times article on their share flotation is it is “biased” and “clearly written by a Taig”.



    The FT is well known for it’s anti-Rangers agenda

  18. Curly………………………



    A great tree has fallen in the forest.



    Stay strong……………………




  19. TheGreenManalishi(WithTheTwoProngedCrown) on

    Neil Canamalar,



    Celtic FC Ltd is a Wholly owned subsidiary of Celtic Plc, again from last year’s annual report



    “As the Company and its principal subsidiary are managed


    and controlled as a single entity, the review of business


    and future developments, which is set out in the Chief


    Executive’s Review and the Financial Review, reflects


    the performance of the Group. A separate review of the


    Company would not be meaningful and is therefore not



  20. RogueLeader




    I want them to part with their cash. It aint going to their club. It will be used to repair and upgrade property their club no longer own.

  21. Neil canamalar Lennon hunskelper extrordinaire on



    just going through the Annual Report now and cant find anything with athletic on it



    are you still grumpy from yesterday :oD)))

  22. Neil canamalar Lennon hunskelper extrordinaire




    15:10 on 11 October, 2012






    bring a topic to the table





    Not my job mate – I have never claimed to be the man, and never will. This site used to be THE place to visit for Celtic news. I’d rather look at a blank page than another story about them. Gawd knows, the MSM have printed more than enough lines about them, why does an exclusively Celtic site have to add to the tonnage?

  23. ASonOfDan – I am riddled with Deja-Vu. They are getting all the warnings. All the red flags are there. They have enough holes in their info to start asking seriously difficult questions. Let’s see if they have learned anything whatsoever over the past 12 months….

  24. Teuchter ár lá





    Plans are going well thanks for asking! Putting all my efforts at the minute into the training for the Marathon which is happening in 18 days time. Will do a wee 6 mile run this evening after work and then my last big run, 20 mile on Saturday up the Phoenix Park. I start to taper down then with short runs in the next coupla weeks for the big day itself.Weather is dire over here today but not to worry, it will keep me cool.



    I still have to get my shots for Kenya and get the Visa sorted but will get this main fundraiser out of the way first. Celtic are giving each of us who are going a signed and framed limited picture of Big Victor to raffle as well. There’s an AICSC Delegates meeting coming up in November over here, so will be hoping to raffle the pic then for the appeal.



    Many thanks to all the the CQNers who have contributed to the fundraising appeal and for anyone who wants to still contribute, or just find out more about Kibera you can do so at



  25. RogueLeader


    15:15 on 11 October, 2012


    FF have dismissed the Financial Times article on their share flotation is it is “biased” and “clearly written by a Taig”.


    The FT is well known for it’s anti-Rangers agenda



    the article was written by Bryce Elder, a right timmy sounding name!!

  26. South Of Tunis on

    ” We have announced that David Murray has agreed to sell Edmiston House back to the Club “

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