Rangers Then, Sevco Now, Scotland's Shame Forever....

[thebeachend]

gie him a break........genuine mistake, I'm sure he meant to upload to the league cup semi thread

[Jupiter]

According to a government minister, at least one football club is being investigated for money laundering.

It woud not be a surprise if it was Sevco.

https://www.dailymail.co.uk/sport/sp...n-Wallace.html

[sheepcrooky]

https://www.bbc.com/sport/football/46052295


Ooft.

[Jupiter]

£14.3 million is a lot of money laundering. Allegedly.

[sheepcrooky]

Earnings before tax and interest £4.2m, overall loss £14.3m. If that is right (and it is the BBC), that makes taxes and interest of £18.5m. Pretty sure they are not paying much tax, so most of that interest.

I would have to have a full look at the accounts to see if that’s right.

[Jupiter]

Almost twice as big as the previous year's loss, yet the glib and shameless liar seems to think it's been a good year.

[Pacman1903]

https://www.bbc.com/sport/football/46052295


Ooft.

Sare een.

[Red Zone]

Earnings before tax and interest £4.2m, overall loss £14.3m. If that is right (and it is the BBC), that makes taxes and interest of £18.5m. Pretty sure they are not paying much tax, so most of that interest.

I would have to have a full look at the accounts to see if that’s right.

Either incompetent or biased reporting by the BBC (as usual) as I have had a look at their accounts so regardless of what was reported they actually made a loss and not a profit before interest tax and depreciation of £4.2M. This mainly arose due to an increase in their wage bill of £6.5M.

To get from the £4.2M loss to the overall loss of £14.3M the main additional cost was writing off the value of their players to the tune of £7.4M (Warburton and Caixhino's duds), depreciation of fixed assets of £1.6M, finance costs (including interest) of £2.5M offset by a gain on selling players of £1.2M.

To keep the whole sh1tstorm going they had to get £7.5M of loans from shareholders (making £23M of loans since King took over)

One of the most revealing disclosures is that for this season (all of the above results are for last season) they still need another £4.6M of new loans from shareholders at minimum to keep the lights switched on, and that is after getting give or take £10M from European football. This is just a pack of cards waiting to fall as celtic will continue to win the league, if they don't make the group stages of Europe next season, as they write off more millions on more dud players bought by Gerrard and eventually the money to pay off Gerrard and his staff after he is sacked once the orcs realise he is not stopping the celtic 10 in a row party.

Sit back and enjoy!!!

[Mason89]

Tick tock

[redstarfk]

Just makes it even more galling that they've done well in Europe this season , as the money they're raking in seems to be a real lifeline for them