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

[KIWIRED]

Even the Auditor says without further investment he does not see them as a going concern
In other words.... there fecked

[afc1903mad]

Even the Auditor says without further investment he does not see them as a going concern
In other words.... there fecked

To be specific

MATERIAL UNCERTAINTY RELATED TO GOING CONCERN We draw attention to information in note 1 in the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover projected cash shortfalls in season 2019/20. The precise level of funding required is uncertain as it is inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. As stated in note 1 the risk that key cash flows are not achieved as forecast , along with the absence of a binding debt facility for any shortfalls, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

They’ll muster up the additional £10M For this season, I fully expect that, but it is an indicator of unsustainability in the longer term

[Pacman1903]

Theres no way that

A)they wont get the injection needed as there are too many rich eejit trolodytes that will pay in. They were too arrogant when the old co shat it as they had a "that wunnae happen to the mighty teddy bears by ra way" attitude. That arrogance killed them. So people will be quick to bail out this time

B ) The authorities wont let it happen.




UEFA however should be knocking on their door. They would be a good scalp for a ban to show they mean business

[kb_don]

Theres no way that

A)they wont get the injection needed as there are too many rich eejit trolodytes that will pay in. They were too arrogant when the old co shat it as they had a "that wunnae happen to the mighty teddy bears by ra way" attitude. That arrogance killed them. So people will be quick to bail out this time

They said that 7 years ago with the old rangers. Didn't happen. £10m needed this season, plus maybe the same to Sports Direct. On course to lose the same next season, plus missing out on £14m if they can't play in europe. £24m due to pay out over the next couple of years in transfer fees with next to nothing due in. Add it all up, and you're getting close to the big tax case amount. People rich enough to spend that sort of money tend not to waste it on football clubs with no prospect of a return.

B ) The authorities wont let it happen.

They said that 7 years ago with the old rangers. Didn't happen. The sfa/spfl can fix the refs and avoid punishment for them, but they're not going to give them £20m or whatever they need. The sfa can't automatically put them in the champions league group stages which is about the only thing that would make them break even. When the directors no longer have the funds to bail them out, who's going to pay wages etc?

[Red Zone]

They said that 7 years ago with the old rangers. Didn't happen. £10m needed this season, plus maybe the same to Sports Direct. On course to lose the same next season, plus missing out on £14m if they can't play in europe. £24m due to pay out over the next couple of years in transfer fees with next to nothing due in. Add it all up, and you're getting close to the big tax case amount. People rich enough to spend that sort of money tend not to waste it on football clubs with no prospect of a return.


They said that 7 years ago with the old rangers. Didn't happen. The sfa/spfl can fix the refs and avoid punishment for them, but they're not going to give them £20m or whatever they need. The sfa can't automatically put them in the champions league group stages which is about the only thing that would make them break even. When the directors no longer have the funds to bail them out, who's going to pay wages etc?

Assuming celtic win the league this year I think that King and Park will continue to throw their personal wealth into the black hole for one last try to stop 10 in a row. If celtic win that one as well then I think we could see a big reduction in spend as no matter how rich you are you can't continue to spend your own money at the rate of about £10M-£15M a year for no benefit. I think they would also probably try to cash in on some sellable players at that time as well (I would imagine they will try to hang onto the likes of Morelos for one more Summer unless he causes a stink to leave, which is entirely possible). Much as it sticks in my throat to say it I guess we should all be hoping for a celtic title win to prevent the knuckle draggers from having any hope of Champions League money

Whilst the SFA can't help bail them out just watch for all sorts of rule bending/ignoring to minimise any penalties they impose on sevco should they go into Administration

[nice1simmy]

They said that 7 years ago with the old rangers. Didn't happen. £10m needed this season, plus maybe the same to Sports Direct. On course to lose the same next season, plus missing out on £14m if they can't play in europe. £24m due to pay out over the next couple of years in transfer fees with next to nothing due in. Add it all up, and you're getting close to the big tax case amount. People rich enough to spend that sort of money tend not to waste it on football clubs with no prospect of a return.


They said that 7 years ago with the old rangers. Didn't happen. The sfa/spfl can fix the refs and avoid punishment for them, but they're not going to give them £20m or whatever they need. The sfa can't automatically put them in the champions league group stages which is about the only thing that would make them break even. When the directors no longer have the funds to bail them out, who's going to pay wages etc?

The glib and shameless liar said when he took over that it would probably cost them up to 50M within 3 years to get up to a level with the Tims and he is happy to put that money in as he knew how much it would cost so they havent spent that much YET (nearly) and they are pretty much challenging the Tims now so they are on track (no laughing at the back) as to what King said so he's happy to pump money in as he knew at the start how much it would take and he hasnt reached that 50M yet,if the Tims win 10 ina row then they COULD be in trouble but thats a couple years away yet

[57vintage]

The glib and shameless liar said when he took over that it would probably cost them up to 50M within 3 years to get up to a level with the Tims and he is happy to put that money in as he knew how much it would cost so they havent spent that much YET (nearly) and they are pretty much challenging the Tims now so they are on track (no laughing at the back) as to what King said so he's happy to pump money in as he knew at the start how much it would take and he hasnt reached that 50M yet,if the Tims win 10 ina row then they COULD be in trouble but thats a couple years away yet

Here, have some full stops. I was gasping for breath reading that silently.

.............

[afc1903mad]

^^^
If they received a UEFA ban though, that would really pile on the pressure financially

[Pacman1903]

^^^
If they received a UEFA ban though, that would really pile on the pressure financially

I still believe there are daft enough people out there to fund them a lot of money. They would never let their club die "again"(first time really)

Anyway f@ck them. Rich or poor

[afc1903mad]

I still believe there are daft enough people out there to fund them a lot of money. They would never let their club die "again"(first time really)

Anyway f@ck them. Rich or poor

Possibly, but I read somewhere they have spunked something between £60M - £70M debt in their 6 1/2 year existence.
How sustainable is that?