Just like Marty McFly, my story is in three parts and the time has come for the final instalment.
We have discussed how the past has been and jumped back to present day to see how it has begun since Sevco have returned.
What does the future hold though?
We know that they held their AGM today, and it was full of the same old fluff. Futhermore, we know that they will do everything they can to extricate themselves from the billionaire partner they do have. This will be because they want to allow other”investors” in.
Question though. who would want to invest in Rangers?
Rangers have had to get an £850k loan to keep the lights on. Apparently everything is okay because they have that loan, or at least that’s the BS Spin, but the issue, as always, which isn’t being discussed is that they need this at all; a business their size and they need to borrow £850k to keep the business in operation.
Ridiculous. And no questions asked.
Now they are all exultant. King was asked about transfers in January and there were all the usual assurances about “funds being available” and the manager “being happy.” Waburton himself trotted all the lines about good communication and being pleased, but how can an organisation, that needs £850k in soft loans just to survive, find anything for transfers?
This leads back to this “outside investment”, which King waved away the need for, but which we know he’d take in an instant if it were on hand. Any investor looking at this club must question the sense in putting any into this shambles, especially when you throw in the fact that they have been trying to get interest for months, handing the begging bowl around in Edinburgh and London to major financial institutions and Wonga companies alike, to no avail.
They were even, according to some stories, perfectly willing to put up Ibrox, the Albion car park and Murray Park as collateral, and still they have been told no!
So again, why would others “invest” if even bricks and mortar aren’t enough collateral for banks?
The thing is Sevco fans have an issue accepting that collateral or loans should be an issue at all.
They expect that if you have money and you are “one of them” then you should just give them money. They believe that because this is the spin that Murray and King have fed them for years. Murray said it was his money – it wasn’t. King said he was putting his money in – he hasn’t.
Now Celtic had a wee issue with this with the Bunnet and to some extent Dermot Desmond, some questioned why they should invest and make money rather than just give us money. That was because the media had been used as a propaganda tool by David Murray, and he’d managed to convince everyone (“for their fiver….” blah blah blah) that the “investment” in Rangers was coming out of his own pocket.
But we realise now how all that really worked.
The actual money will come from the fans of course. Club 1872 is being used, with King and others more than willing to press the emotional button; “if you don’t invest in the share issue you are not a real fan.” This is why that share issue will be passed no matter what.
As James has already said on this site, if this does not happen then Sevco will die, and soon. It’s as simple as that.
The spin will be that this is “major investment in the future” and that it will be used on players etc. Consider though how much they can raise, factor in the current economic issues with the level of investment needed and that fact that there are so many other shares there, a decent estimate would be £10m,
If that’s the case, there are loans to be paid back – and anyone who thinks that these loan wont be paid first is a moron – Ashley will want his cut, assuming he allows it at all of course, then the fixtures and fittings and bills need to be paid … if the football dept gets £2m it will be a surprise.
All you know what?
This is exactly where Rangers was ten years ago, and where Sevco itself was two or three years ago … its all spin, but the thing about spin is eventually people lose the story and find out the truth.
“This is heavy,” as Marty might say.
They are literally on a time loop here. We’re back … to the future.
David Campbell is a writer and blogger from Glasgow, and he’s highly unimpressed by Sevco and their “business plan.” Or is it an “investment plan”?”