Yesterday, The Sun played a familiar little trick.
It claimed an exclusive which actually wasn’t.
It pretended to have been first to the story about how the Ibrox club has filed documents with Companies House confirming their latest “share issue”, worth £1 million.
The documents don’t say if that’s more borrowing or if it’s the transfer of cash owed into shares; whatever it is, that company is well overdue a good look from the regulators. I used to joke that their share certificates were worth less than toilet paper. But did you see the price of toilet paper during the pandemic? And you can wipe your arse with it.
I don’t know what the value of an Ibrox share is now, but this is not good news for their club.
If they need a £1 million in funding to get through the next few months then all is definitely not rosy over there, and it should be with Champions League money and the sales of two players.
Can you even imagine how bad things must be if they need extra cash to keep the lights on?
What in God’s name is going on over there?
Why isn’t the media doing proper digging? If Joe McHugh of VideoCelts – for it was he, not The Sun who broke this story – hadn’t found this and reported it would we even have known about it for months?
For God’s sake, all of English football is talking about the situation at Manchester City and the only people looking again at events closer to home are us. The bloggers.
It sometimes seems like the integrity of our national sport is of only limited interest to the media which is supposed to cover it. They are painting this as “no big thing” when in fact it might be.
Once again, well done to Joe, one of the original Internet Bampots, who saw this first and posted about it yesterday. The Sun as usual was clutching to the coat-tails of Celtic social media.
It has been this way for about ten years now.
Man City is facing the SECOND biggest scandal in British football history since Rangers FC liquidation.
HH
The money was to complete the new edmiston house which cost 3 times more than originally quoted.
Surely the Champions League qualification money would have covered this and much more.
Thats nonsense Adam.
They would be better investing it in the Copland Road Hotel,never mind Edmiston House.
I dont believe even the most gullible sevconians will believe they had a share issue because of rising costs to rebuild edmiston house
I have a bridge over Sydney Harbour, lovely spot , up for sale just tailor made for you.
Congratulations to Joe. Well deserved.
One of the nice things about Companies House is that they have a service where you can “subscribe” to updates on any company, and Companies House will send out an email the minute there’s a new filing. Getting this news quickly is super easy – being the first to get an accurate article written and published before anyone else is the challenging part.
When I saw this filing come through my mailbox, my immediate reaction was: more confetti? They’ve got at least 3 months before season ticket money starts coming in, so this probably won’t be the last share issue this season. To me the most interesting part is who’s funding the share purchases and who isn’t. And that’s something Joe did a really good job tracking down as the information isn’t included with the Companies House filing.
The quicker sevco goes bust will be a day of rejoicing,no more dirty, demonic, anti catholic,anti Irish ,bigotry…….
A penny a share what an embarrassment from Skinto FC, I have heard of a penny for a guy,but a penny for a BENNY.
Fleece the FILTH fur mare MyGers Pts, AC/DC Shirts & Inflatable Broxi Bears lol! They’re as Thik as Fuk they’ll buy ANYTHING coz they arra Peepul lol!
Bad news coming out of the bluenose rat pit is always good news for us, they are a continuous shambles. Even for a new club with a large fan base, aye ready to be exploited and suckered into parting with their hard earned cash, they are so badly run that we never have to worry about them catching up with us on or off the park.
The bad news is for Club 1872 who despite buying 354% more shares since 2016 when they had 6.01% of the overall shareholding of the Club have since seen that overall shareholding drop by .92% to the current 5.09% of the overall shareholding.
Ie they’ve acquired 354% more shares to reduce their shareholding by 0.92%
The reason for that dilution is the 23 separate share issues since 2017 and the arrival of Gerrard.
The fact not one of their fans is questioning the logic behind this is quite incredible.
What is even more incredible however is that there not been a singe peep from the Meeja about it.
You sound surprised about the competency, or the lack of, of the SMSM.
Part of the competencies required for any prospective
‘Scottish Churnalists’, perhaps in fact the only selection criteria
considering the abysmal standards of their copy, if you ignore
Lodge and O.O.Membership, some affiliation to the DebtDome
plus the ability to satisfy a Goat, said competency is the ability
to utilise in all things Sevco related the tried and tested 3 Monkeys principle.
We should be used to it by now.
No shocks here.
Just bewildered that not one of them has taken it upon themselves to warn their fellow supporters about what is actually going on.
They have already taken a soft loan of 10 million from a director called Bennett at 5% interest to see them through to end of season.They are a basket case of a club, but how are they getting away with it with financial fair play ,SFA turning a blind eye again as usual.