Sevco Thread

[ZeroTolerance]

 

 

My "guess" on the next few weeks

 

• The shareholders will vote against Ashley
• Ashley will then ask that in line with the terms of the loan that he nominates 2 to the board via an EGM based on the comments regarding King and the SA authorities and wanting to ensure his money is "safe" as there is no NOMAD to watch over them
• EGM will vote against ashleys nominations
• Ashley will nominate two others
• EGM will vote against
• This cycle may repeat or Ashley will call in his loans

just a guess mind

 

H

 

I have a different view.

 

Ashley's not pissing about.

 

He regards the loan as being in default. If the £5m is not repaid it goes to court and he gets a court order to ring fence the £5 million. Administration follows soon thereafter.

[Tord31]

the ring fence first £5m of season ticket sales is the outcome I would guess too.

 

However I think the shareholders WILL vote to repay Ashley

[Tord31]

McCoist is set for a very big meeting at Ibrox this week - what could it be?

[Redstar]

Best gardener in Scotland.....

 

http://www.eveningtimes.co.uk/mobile/news/ally-mccoist-opens-new-hospice-garden-209765n.128512024

It's got the hun raging...and it's fairly amusing...the fact they have all jumped on the "St Vincents...is that no a taig hospice" bandwagon is classic.

[Tord31]

big Mike in court first thing in the morning to have his £5m ring fenced from the early season ticket sales

[fine-n-dandy]

Wonder why Mike Ashley has just stepped down from the Newcastle board?

[ZeroTolerance]

big Mike in court first thing in the morning to have his £5m ring fenced from the early season ticket sales

Indeed. Very interesting.

 

https://www.justice.gov.uk/courts/court-lists/list-chancery-judges

[tup]

Wonder why Mike Ashley has just stepped down from the Newcastle board?

Because he gave his place on the board to Steve McLaren.

[fine-n-dandy]

Because he gave his place on the board to Steve McLaren.

Wonder why he did that?

[dervish]

Indeed. Very interesting. https://www.justice.gov.uk/courts/court-lists/list-chancery-judges

Ra peepil not like Ashley. Ra peepil not buy shirts. Ra peepil not stand idolly by while Cashley steals our clubs season ticket money. Boycott the gate, blame the SFA hopefully King's war chest of 20 million shows him up. Not like Newcastle can even get in Europe. Anyway who are these people judge us? Taig conspiracy.

[tightbreeks]

They can have Mcinnes coz I read in the paper that the next dons manager will be drawn from a short list of klinsmann, mourinho and zico.

[tup]

Wonder why he did that?

Use google and find out, it's actually a very good plan.

[tightbreeks]

Chancery has that sort of west coast vibe whitaboutery about it.

[Herouali0]

09:54

Reuters

Greek champions Olympiakos have sacked Portuguese coach Vitor Pereira after six months in charge at the club, during which time he led them to a Greek league and cup double.

Local media said the 46-year-old had angered Olympiakos owner Vangelis Marinakis when it was reported he held talks with Scottish club Rangers last month.

[ZeroTolerance]

Ashley also taking Rangers to Court of Session today apparently

 

London motion to be heard at 11:30

[At The Border Guy]

 

09:54

Reuters

Greek champions Olympiakos have sacked Portuguese coach Vitor Pereira after six months in charge at the club, during which time he led them to a Greek league and cup double.

Local media said the 46-year-old had angered Olympiakos owner Vangelis Marinakis when it was reported he held talks with Scottish club Rangers last month.

 

 

 

Pereira off to Fenerbahce.

[StandFree1982]

They deid yet?

[BWG]

Big Mike wins an injunction and Sports Direct are awarded £20K

 

http://www.bbc.co.uk/sport/0/football/33098380

 

Lol.

[tup]

The clock must be really ticking on sevco now.

 

I doubt they can even afford the 20k.

[BWG]

It'll need to come out off the Dave King's war chest. What's fuck all subtract 20,000?

[Pudgie]

Is it fair to say that there's something in these contracts that both parties want to keep very much under wraps?

 

Best situation: Murray Park, Edminston house and the Albion car park will soon be Gashley's

 

Worst: Sevco still have their £5m, that they don't have, to pay back. Excellent!

[tup]

It'll need to come out off the Dave King's war chest. What's fuck all subtract 20,000?

 

 

Something is going to be the straw to break the camel's back very soon at Ibrox in my opinion.

[Clydeside_Sheep]

It was widely thought that todays court action would be to ring-fence ashleys 5 million, but in fact it related to preventing (further) leaks of confidential information at the EGM tomorrow, after the rangers board allegedly leaked such material previously.

 

Mcgollywog says his sources claim this is part of a 3-pronged attack by Ashley:

 

1) Action regarding breaches of confidentiality (successfully implented this morning)

2) Action regarding the huns being in breach of the january loan terms / security of this loan

3) Action regarding share price manipulation by King and co, and the de-listing from AIM

 

http://www.eveningtimes.co.uk/news/u/sports-direct-wins-rangers-data-ban.1434029208

 

http://www.philmacgiollabhain.ie/sevco-confidential/

 

I like Mike Ashley: as with all tubby people, he looks jolly and benign, but he clearly has the measure of the latest shysters to sit on the throne of Mordor.

 

Hilarious that the season ticket money seems destined to be spent on EGMs and court battles

 

I wonder how the orcish rank and file will vote, as regards paying Ashley back? That tadger who runs sons of struth & co is backing King and saying vote not to pay - but then he can hardly say anything else, given he previously hailed king as the messiah and happily spread his cheeks for him.

 

For years now, I have waited for TV scenes of the orc support fighting among themselves - at an EGM or in the stands or Mordor, I am not fussy. I hope we are getting nearer!

[Bebo]

Fantastic picture that the BBC used for that story.

 

[tup]

I like Mike Ashley.

 

Not sure what the Newcastle fans have against the guy, he seems to be sound.

[ericblack4boss]

I think we are going to see sevco survive this I've lost count of the amount of times they have been, hours, days, weeks away from capitulation, only to still be here obviously ill bow to whatever tup (or perhaps wedder) says to it, as he will know but to those expecting a defunct club in the near future, it ain't going to happen I'm afraid.

[ZeroTolerance]

The clock must be really ticking on sevco now.

 

I doubt they can even afford the 20k.

 

£20k is only an interim judgement, SD have been asked to provide a detailed breakdown of their costs which the judge described as "extraordinary".

 

This case is only the start. Going to get interesting over the next few days, I've stocked up on popcorn.

[ZeroTolerance]

I think we are going to see sevco survive this I've lost count of the amount of times they have been, hours, days, weeks away from capitulation, only to still be here obviously ill bow to whatever tup (or perhaps wedder) says to it, as he will know but to those expecting a defunct club in the near future, it ain't going to happen I'm afraid.

 

Yes, but the guy keeping them afloat has just lost patience.

[Ke1t]

I would never have expected the Huns to die, but die they did. So if Rangers can die then the far more fragile Sevco can die too.

 

I think they had massively overspent in a bid to get into the SPL before they were into terminal debt. Another year was not on the agenda, and even if by some miracle they get promoted, and by a further miracle finish in a top six position, they're still not going to be earning the kind of money they need to remain afloat.

 

Like the Tims they need the periodic Champions League windfall to keep their bloated infrastructure running... and how many years would it take Sevco to even come close to a Champion's League game?

 

The pittance the SPFL divvies up for top 6 places isn't going to keep Sevco in Crunchie Bars™ for a month, let alone keep it ticking over.

 

If I were a Sevconian I'd be... I'd be stinking of pish and lying in a pool of my own sick on a Monday morning... but I'd also be VERY worried that cash is pouring out of the club and all that's coming in are promises of cash from a never-ending procession of asset strippers, vultures, and charlatans without a penny to their names.

[tup]

Ashley helped them and they fucked him over is a summary of what's happened here.