With Those Accounts Now Published, Ibrox Faces Some Dire January Choices.

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Ibrox’s accounts were published today, as everyone is aware, and with their publication comes some tough decision making.

Whilst it is possible that their directors could simply continue to put money into this tottering wreck of a club that has to be considered unlikely.

The talk is of loan facilities to get them through the season.

Take note of that. They have borrowed £10 million from the directors this time.

The days of “debt for equity” are over. Toilet paper has more value than those shares, and everyone knows it. The failure of the last two issues proves that; even their gullible fans are not buying any more of them.

The days when idiotic hacks talked about “investment” are long gone.

There is no “investing” in that basket case, only throwing good money after bad. All the directors are doing at the moment are lining the pockets of over-paid footballers for the greater glory of Steven Gerrard and the Peepul. His win ratio this season is lower than Ange’s. The appetite for doing this has got to be limited unless these folk are lunatics.

The real questions are, who outside the boardroom is funding this and what do they expect to get in return? How does the club intend to finance those repayments?

Well, there is selling players. The club has been talking about a “player trading break even model” for the last few years, and their record sale is still Josh Windass for less than the sell-on fee we got when Southampton sold Virgil Van Dijk to Liverpool.

There are two problems with them attempting to save themselves with player sales.

The first is surely obvious; they cannot afford to weaken the squad in a close title race, especially when we are growing stronger at the same time.

The second problem is that those accounts have been broadcast around the UK and they look dreadful. The club will be seen as desperate to cut the wage bill and plug the hole, whether they are or not.

If they were punching above their weight in Europe, had they reached the Group Stages of the Champions League, if those players were competing at that level, then maybe you could see clubs taking some kind of interest.

But they struggled to draw last night with Bronby. Malmo knocked them out of the top tourney with wins both home and away, the latter with only ten men. There will not be a line of super-club directors beating a path to the Ibrox door, cheque books in hand.

They may decide to gamble; sell no-one, secure more loans and bank on the Champions League bounty. But their form really isn’t good enough to support such a risk. If they try, and fail, what then? A summer of downsizing?

That would really help sell season tickets.

You know, I’ve always found it amusing that their directors never realised what it was they were doing when the provided the financing whilst King was heading up the board. It was blatantly obvious that he was locking them into a cycle of perpetual spending, of funding the club with their own money to protect the “investment” they had already put in.

Now it has to be obvious even to the dumbest in their number that they have to buck that trend or risk having to fund it until their own money runs out. None of these guys has the wherewithal to do that; even King stopped kidding himself about that, and got out before the hard choices had to be made.

That he left these clowns holding the bag goes without saying.

But the time for hard decisions has arrived over there.

Even without the impact of COVID you can see by looking at the raw numbers that they would still have posted an eight figure loss … the idea that their club is heading in the direction of profit any time soon is for the birds.

January will tell us what the appetite for continued spending is. I suspect that those days are over along with the equity confetti. Hard decision lie ahead of them, and as I’ll make clear over the weekend hard decisions lie ahead of other clubs at the same time.

Because this nonsense cannot be allowed to continue, even if those directors have the will to keep on doing so.

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  • Brian says:

    Oh make no mistake they will continue to fund it because our club will sit back and let them as we done before the champions league bounty will save them because we love the blue pound

  • JTT says:

    Expect much more Honest Mistakes in a bid to save the mighty Sevco

  • Michael McCartney says:

    The corrupt Scottish refs will come to their rescue and our board will continue to say nothing. 60,000 fans getting sold down the river by a cowardly board.

  • George says:

    What are the accumulated losses for UEFA purposes? What are they allowed for participation in UEFA competition?

  • SSMPM says:

    The forecast is pain but as the above comments state some idiots will probably keep bailing them out themselves. For them its Hotel California. Then there’s the SFA/SPFL and the refs, they will keep doing what the do worst for fear of reprisals by their mad mob. HH

  • Dora says:

    Mad mob indeed SSMPM, when does this madness end…an absolute basket case of a klub but we’ve run out of words at this stage, it’s like we’re repeating ourselves for so long re decades of cheating…I feel I’m echoing everyone’s sentiments and pretty much repeating myself re sevco or wangers or whatever they are over the years..!!
    Any other nation but, not in Bonny ol Scotland will that pathetic klub be held to account..
    Maybe wangers footy klub should change their colours as I feel every European nation is on to them..could work but NA, skum always draped in union jokes which are most popular!!

  • ?Green Machine? says:

    What a Farce of a KKKlub

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