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Another Administration At Ibrox Is Almost Certain. This Is Why.

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Sevco’s Own Published Accounts Show A Club In Serious Peril

Sevco’s published accounts since the Dave King takeover are a mess, revealing a club seriously leaking money and who’s business plan is an unfeasible one based on fantasy instead of reality.

Its projections are wholly unrealistic, paying no heed to even the concept of fiscal sanity and largely depend on the club reaching the Group Stages of European competitions three times in the next five years, which looks highly unlikely at best.

Until then, even in the best case scenario, the club will continue to accumulate debts and record losses until UEFA steps in and imposes FFP restrictions on them, which might even result in a European football ban.

Sevco’s accounts show millions in losses, annually.

They have been in existence for seven years and never once broke even.

There is no sign that they ever will, which means that someone has to keep on carrying the water and paying their bills when the money runs out. They need millions in external funding just to get through the rest of this campaign and those accounts admit that they will need millions more to get through the next one.

This is not Celtic bloggers making up facts; this is right there, in black and white, in their own published annual numbers. They can ignore us as they like … but how the Hell can Sevco fans ignore that?

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