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Spiv Threatens To Sue As Sevco Scandal Boils Over

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Another incredible day in the Sevco saga has ended with Sandy Easdale, the chairman of the football board, threatening to sue Dave King and the current board over the announcement that they will be de-listed from the AIM exchange when it re-opens on Tuesday.

This development comes hot on the heels of Paul Murray’s comments of earlier in the week, where he said the club would take seven years to catch Celtic, and on the failure by the new board to find a Nominated Advisor in time to avoid another series of runctions.

Already, the New Spivs are in full-on spin control mode as the latest scandal threatens to engulf the Stuart McCall “recovery”, which itself amounts to little more than a bad tactical decision by Alan Stubbs and some late goals against the club bottom of the Scottish second tier.

Sevco’s lengthy Stock Market statement today – one of the last they’ll make to the Exchange before silence descends completely – defended the ineptitude of the present board by finger pointing at the ineptitude of the previous one … an interesting strategy, and one similar to that being pursued by David Cameron and the Tories, who after five years in office are still trying to blame every ill in society on the last Labour government.

This kind of spin only goes so far.

Spin will have no effect on what happens next though.

The crisis can be “managed” but it’s no less of a crisis, and whether the fans swallow it or not – and, incredibly, both fan’s shareholders groups have already released statements in support of this calamity – the consequences of it are inescapable and the reputational damage it does is hard to quantify and impossible to ignore.

Blowing smoke will not alter things one iota.

Sandy Easdale, who represents shareholders with 20% of the club, and who can count on the support of Mike Ashley and his 9%, – and thus legally block any move to issue new shares come what may – is tonight, threatening to sue the new board as a consequence of today’s events, especially in light of the promises King and others made that de-listing would not happen.

A new tidal wave is rushing in, even as the board scrambles to repair the damage caused by the last tsunami.

It is hard to think of a bigger shambles in the history of sport.

The questions keep on piling up for the Sevco board.

The answers, if they come at all – the spinners are already telling the world that the need for transparency is gone, although it was one of the many (mostly broken) promises the King consortium made before the EGM – are likely to be a wakeup call to every person who expected “normal service” to be resumed at the Big Hoose.

As I said in my On Fields of Green article earlier, (read it here!) “normal service” was a club run on debt, financially doped to the gills and those days are gone … a fact acknowledged by everyone in Scottish football except those in the Sevco support and the newsrooms which feed them fantasy.

The more the King regime ties itself in knots, breaking promises they never intended to keep and trying to rebuild a club they have no plan to fix, the more clear it becomes that the fun Celtic fans have enjoyed in recent years is nothing compared to the entertainment to come.

Easter Weekend has started with a bang.

More to follow, without a doubt …

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12 comments

  • TheCelticWay says:

    the media are now pissing against the wind as nobody inc: the sensible bluenoses believes a word they say. They have milked the spin and deception dry to the stage even their target audience have turned against them….. well done Keef…. FOUND OUT AGAIN!!!

  • AZNOMAD says:

    The MSM are MAD
    The huns are MAD
    Sevco have no noMAD
    Celtic trying to sign a guy called ahMAD
    As the great SPENCER TRACY
    Once said
    It’s a MAD.MAD.MAD
    MAD WORLD

  • James says:

    quote from a page I found — a company being delisted may also be a positive thing for the company shareholders. If it decides to go private instead of being a PLC, it essentially buys out existing shareholders – in exchange for cash. IF shareholders do not accept the buyout offer then the shareholders stock will still be valid BUT they will become worthless upon delisting.

    Is this King’s end game?

    Possible he may go this route to get rid of mike ashley and easdale ?

  • Max Cady says:

    Galatians; Chapter 7 Verse 6. “As ye sow, so shall ye reap.”

    • Paddy McMuggins says:

      Had a handy wee team them Galatians not so long ago…Oh sorry I meant Croatians.

  • GERRYBHOY says:

    ARE THE SFA FUCKN DEAF SORT IT BEFORE SOMEONE ELSE DOES IT FOR YOUS

  • GERRYBHOY says:

    S F A SORT IT BEFORE SOMEONE SORTS IT FOR YOUS, THE WHOLE OF SCOTLAND IS WATCHING

  • Tommy Barker says:

    Why has no one brought the subject of sandy chugg co/founder of stains of struth being aressted , at old firm game wen he has had 3 liftime bans from ibroke , hes also published a book bout his exploits wae the ibroke casuals ?????

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