You know how we can gauge the full measure of the story that broke in a handful of places last night about how Sevco has “secured” an overdraft facility after a mere seven years? We can judge it based on one simple fact; not one media outlet has gone overboard with it, and when it comes to positive Sevco stories they fall all over themselves to do that.
When the mainstream media – who have all been sent the same briefing on this – won’t give it the wall-to-wall coverage the club wants you wonder if even they can’t smell the bullshit all over this. Do some of them think they’ve been compromised enough having to wade through the Morelos story this past week?
I will write a full article on this deal in due course, but look at the near total absence of the story in the mainstream outlets. It’s almost as if they know already that this one is radioactive and don’t want near it.
And it has radioactive elements to it, alright.
Additionally, for once, Sevco fan forums have greeted a “positive” story with some scepticism.
They are right to.
This one is deeply suspect, for reasons they understand and for reasons they can only half grasp at the moment. But to have two of their properties held as security against what sounds an awful lot like a loan is easy enough for them to wrap their arms around.
Some of them do get it this time.
Sevco has essentially taken on more debt, and Stewart Robertson announced that whilst trying to convince the world that they are in good financial health. Everyone knows that’s sheer nonsense, but don’t think for a minute that Close Brothers are mugs for doing business with this lot; they have themselves well covered here.
Ironically, what Robertson is spinning as good news actually places them one step nearer the abyss, and it’s not even that of administration. Dark possibilities arise from this arrangement which even their most cynical fan hasn’t grasped yet.
I’ll discuss them later.
But for now, contrast the way the Morelos story spread like a flu pandemic this time last week despite having no basis whatsoever in reality. A piece of sheer nonsense grew wings and was made into the biggest story of the window. This story is not fiction. It is entirely fact-based. And it gives Sevco the short-term funding shot in the arm to get through the season. Spinning this as good news is the least you expected the press to try and do.
Is it because this is so bad that nobody wants to go near it?
If so, the media is being smart for once. The Bampots are well out in front of this.
Any effort to make this look good is going to backfire, and for once I do wonder if the editors and those who work under them have grasped that.
About time too.
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