The Anatomy of a Putsch

As Sir Bribe & Lie circles the carcass of Rangers Lite,  the following two events will be instructive on how best to launch his putsch:

1. King’s anticipated ragdolling at The Court of Session on Thursday.

2. The accounts to 30 June, 2017.

In my informed opinion, King is finished as a force at Rangers Lite. Should SB&L wish to maintain the current construct, King’s 14.57% would be a good place to start. With King over a barrel he is not in any position to demand 27.5p per share. Sir Bribe & Lie would to my mind offer no more than 18p. The same offer would be made to Park senior and George Taylor. SB&L could buy them out for just under £5m. Having breached the 30% threshold he would then publish a prospectus to hoover up as many shares as possible at 20p. With circa another £2.5m he could achieve a majority shareholding.

One could argue that £7.5m is a small price to pay for assets that Green bought for £5.5m of other people’s money. However Rangers Lite are small beer and as each season passes under the current board Ibrox will in time only appeal to the 18,000-20,000 hard core of hard-wired bigots who view the matchday experience through the prisms of supremacy and racist invective.

James Forrest, a much admired blogging peer, has noted that viewing figures for this season’s Lite v Celtic Glasgow derby were indicative of a downward spiral. Celtic’s Champions League revenue is a game changer. According to Transfermarkt Celtic’s squad is valued at £57.75m. Rangers Lite’s squad at £20.5m. The gulf in quality leads one to presume that Lite will not earn a point, nor prevail in a cup tie, against the Celtic juggernaut. Celtic have players, such as Armstrong and Dembele, that could be sold for significant profits. They also have the financial wherewithal to retain Scotland’s most improved player, Kieran Tierney. Tierney is a star in a constellation of quality players.

Primark Pedro’s clapped-out caravan squad has little appeal. Second-tier journeymen looking for a pension fillip have limited market value. Lee Wallace was the only player who commanded a bid north of £1m in the transfer window. There are too many crocks, such as Kranjcar and Rossiter, to make a material difference to the P&L.

Will the audited accounts, as anticipated, show that loans have risen from £6.25m to just south of £10m? Will there be more emphasis of matter red lines? Rangers Lite is as unwell as one of its principal shareholders. Its decline could be terminal.

Sir Bribe & Lie watched Charles Green set up Sevco Scotland with only £2 of his own capital. Green raised £22m from an IPO. This would be Sir Bribe & Lie’s preferred route to majority control. He could pay off the debts from the current ‘donors‘ in one fell swoop.

With the Lite horse headed for the glue factory would SB&L’s plans come unstuck at Hampden? Not a chance of it. Regan would be the first on his knees at the Ibrox Glory Hole.

Sir Bribe & Lie, with a flair for the dramatic, disingenuously asserted that for every £5 Celtic spent he would spend £10. A more accurate statement would be one where he highlighted that he would borrow the £10 quantum.

Funding any Rangers Lite renascence would not be easy as Lite and financial prudence are ships passing in the night. Would there be any traction in flogging the ‘Old Firm’ dead horse? I posit that any attempt by Lite to surf on Celtic’s bandwidth would be doomed to failure.

As James Forrest points out, there will be no return to the ‘Old Firm’ joint marketing deals of yesteryear. Celtic is a global brand. Rangers Lite are a small internet casino’s  sandwich board. The gulf in sponsorships deals is much greater than Celtic’s squad value differential. The ‘Old Firm’ will no longer prop up the Ibrox brand despite Roddy Forsyth’s best efforts in The Telegraph.

Rangers Lite is a tainted brand. The Cold Shouldering of a football club Chairman is unprecedented. Celtic and other companies would do well to give Lite a wide berth. Sir Bribe & Lie might prefer giving the rogue board enough rope to hang themselves.

However the dying embers of the dead club continue to burn brightly in the Scottish political class. Prior to the green light for the first phase of  The Celtic Village being granted, Peter Lawwell stated:

If you have Celtic who are progressive, say, and (Sevco), who over the last five years, have been trying to re-establish themselves, we have been looking forward and they have been looking at today and tomorrow and trying to keep going. The difficulty for the politicians is to recognise that Celtic is progressive and to help us along the way because someone is going to say: ‘Well, you are doing that for Celtic. What are you going to do for them?’” (Source: The Celtic Blog).

With meeting monthly payroll demands a recurring challenge, it will take more than Sir Bribe & Lie to rejuvenate Rangers Lite. He does not have the wherewithal.

Tina Turner’ belting out ‘Simply The Best‘ at Ibrox has been replaced by Cher’s ‘If I could turn back time.’

There will be no return to the ‘Old Firm’ and Quantitative Easing at Ibrox.

 

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30 thoughts on “The Anatomy of a Putsch”

  1. If SB&L returns, this would confirm my belief that this was always the plan. A sham second club which keeps the assets and drops the debts. An attempted parachute into the SPL by the RRM placemen then as that struggles to stay afloat with director loans from mysterious sources, the dark knight arrives to rescue the club from oblivion.

    Now a quick prepackaged administration and a convenient rule change to ensure a third Rangers remain in the league and we are back to the good ol’ days of moonbeams and rhetoric and Hector can sing for it.

    Job done.

    DB

    1. The only risk was the yank buying the assets from D&P. SBL had to mobilize the mob to threaten him off.

  2. The Chairman may change but the team is still the same. Second rate and second best despite the best efforts of the SFA and Scottish referees. The gulf is wide and getting wider. Why would anyone with a brain want to buy a majority holding in a loss making company? For every fiver that Celtic spend Murray will borrow a tenner. Actually not borrow. He will con people to give him a tenner and thats the last that they will see it. Who’s up for a ‘donation’ of $100, a $1000. We will soon learn that you can indeed fool some people all of the time.

  3. The wisest thing I have read about this whole debacle in the last 6 years has been the following:

    We can argue about titles, NewCo. OldCo and whether or not it is the same Rangers or not. The point is this: whatever emerges this entity will never be the same again. It will not be back to spending millions, dominating and lording it over the Scottish game. So clearly, whatever arguments are put forward, it will simply never be the same Rangers. It will be totally unrecognisable.

    This has proved the truest word of all.

  4. JJ, given the chatter around the return of SDM I was wondering who is actually providing Murray and his extended family with banking facilities?
    Having put a £700n hole in HBOS balance sheet, surely not them?
    Add to that the Rangers Lite debt, the largest portion of which resulted from the illegal tax schemes introduced by the knighted one so that players who they otherwise couldn’t afford could be attracted to the Ibrox feeding trough.
    On the Sky viewing nunbers I understand that subscription numbers have fallen significantly, particularly in Scotland where monthly bills of £100 are the norm.
    Wrst Brom v Crystal Palace and its ilk has little attraction.
    From personal experience I know that Sky has a team in place chasing up lost customers and offering large discounts on their sports packages, though not enough to tempt me back!

  5. I would suggest ‘Reelin’ Back the Years’ by Steely Dan as alternative.

    I have been in touch with my source who remains close to SDM. He vehemently denied that SDM wants ‘back in’. But then, as SDM reads this site, he would deny that initiative. However, don’t discount the option of someone very close to SDM acting as a proxy.

    SDM treated folks like King, Paul Murray, Alastair Johnston and Douglas Park with contempt. These were the folks who were part of the first train crash and it would appear that they remain unacquainted with the principles of good corporate governance.

    1. I have a link to his acquaintances who are being briefed that he is ‘all in’ on a return. Another source that is worth his salt is of the view that my analysis is correct but the shares are worthless. He agrees that buying the debt, not necessarily at the actual quantum, is the way forward. His sources suggest this will come to a head before Xmas.

      1. Sir David Murray’s £168.8m Rangers FC debt is being put to bed by BDO.

        Walking back in and buying £8.5m debt for £4m to take control of the new club, lauded as the old club, would be attractive to him.

        Anyone who didn’t hand over shares or sell their debt cheap would be gang banged in the press like the Easdales as being no good for the club.

  6. I imagine there’s 45,000 would quickly forget the six years nightmare endured to queue up at the Ibrox glory hole to give Bribe and Lie his knee trembler.

    Gullible fools. Memories of goldfish.

    I expect he would employ sidekicks the Cardigan EBT and Super Salary.Get the old acts back for that Strictly Come Blue Dancing extravaganza.

    Tax Crook and 17 titles Football Criminal, that’s Sir Bribe and Lie.

  7. Is there no associated stigma to being at the wheel of MIH as it sunk with circa a billion of debt?
    I find that completely extraordinary, if true.

  8. It would have to be a proxy (or perhaps something ‘dynastic’) as both Reagan and Doncaster have said that ‘ Sir Daddy Murray’ would not be allowed back in the game.

  9. I note with interest that Kenny and the lovely Laura Miller are in court today. One can but hope that The Cosa Bothwell are not cited. Green Earrings by Steely Dan comes to mind.

  10. JJ

    Do you think Doncaster will welcome SB&L back with open arms the way Regan would even though it’ll further tarnish his reputation in Scottish Football and make his current position as SPFL CEO even more untenable than it already is?

  11. SBL told Green to stiff Whyte with the sevco5088-sevco Scotland switcheroo.

    Green had meetings with SBL which he spoke of publicly. Green gave him £1.5m for a car park worth £50k.

    Whyte messed it up. He was being thrown out to the Wolves. To get the SMSM’s blame.

    The evidence SBL knew of Whites liquidation’s (Private investigators report) in advance of selling was withheld by Donald Findlay in court.

    SBL will buy up all the debt cheap. Admin will wipe out shareholder ownership including club1872. SBL will then control assets and all as the creditor.

    1. Irrespective of how little it costs for SDM to make a dramatic return there is no longer a dysfunctional bank within a bank at HBOS dancing to the knighted one’s tune.
      For once he may have to spend his own money though tying up security, catering and other ancillary services under his umbrella will reduce hus outlay.
      The prospect of a share issue may be less straightforward. With Kingco running the show there is no prospect of a share offering but would SDM be a better proposition having wiped off£700m of debt with the liquidation of MIM and leaving a hole in the pension fund.
      In addition he launched two illegal tax schemes which ultimately sunk Rangers.
      How he has not been stripped of his knighthhood is a mystery and throughout the last 5 years you will find little serious criticism of his Rangers tenure in the Scottish media.
      The taste of succulent lamb apparently still lingers on in the mouths of our journos.

  12. Re my misspelling of REGAN’S name, what can I say in my defence except ” a shit by any other name is still a shit.”

  13. Does CCK hate SDM? Or was it all BS for fan and public consumption?

    If CCK hates him, SDM will have to stump up big or not be allowed in at all.

  14. Hey Jj, A brilliantly insightful piece again, ensuring we are all kept aware of potential twists and turns in the Lite narrative. I have to say that unlike some others and whether I agree with your analysis or not, I thoroughly enjoy ALL of your articles and particularly those in the last few weeks. Stay ahead of the game mate.
    Donation made.

    JJ: Thank you.

  15. Hi JJ

    I’m not the most technically gifted and I never noticed a transaction number this time; donation not in my name.

    Sean

    JJ: Thank you Sean. Very gratefully received.

  16. Initially I was very sceptical of the possibility and likelihood of a return to the Ibroke debacle by SB&L. But the more I think about it…I’m not so sure.

    An ego as huge as his will not rest well with his laughable and ridiculous legacy so tainted. The ‘hand over to the patsy’ trick (CW) not only didn’t work, but it back-fired spectacularly. Especially when he was laid bare and given an open-roasting by DF in the big show-trial. Is he driven by a need to set the record straight and an attempt at restoring his now woeful reputation? Then there’s JJ’s inside info. Plus the current timing and desperate plight of the pub-team club de Govan. All seems to fit the theory.

    However, curiosity leads me to a question, not just for JJ but for all/any who read this. It requires a bit of surmising; a couple of assumptions, just for discussions sake. Let’s say, as many believe, that this weeks court proceedings mark the beginning of the end for the Lying King AKA CCK, with respect to his tenure as ‘Chairman’ of Simply The Bust. And let’s also say, for a minute, that TM is correct in his assertion that Sir Donkey Murray actually DOES NOT want back in.

    If both of these are/were true, what then?

  17. It doesn’t need to be SBL. His son David junior is clean.
    Coincidentally day by day it growing arms and legs and the clan that desperate they coming round to the idea.

  18. I struggle with the concept of SDM wanting anything to do with Sevco. However, I have also struggled with the logic of many things that have transpired over the last decade where this RGF (Rolling Goat F**k) has taken us.
    Why? I ask myself, would he go back there when, for 3-4 years he was desperate to ditch the carcass? to anyone.
    The other point is, how or why he is allowed to remain outside of a jail cell God only knows, so surely the lower the profile this crook maintains the better?
    In no way am I dissing anything JJ is saying, as I said, over the last decade I have tried to apply my engineering logic to this storyline, what a waste of time that’s been.
    I would venture that he may engineer a coup and insert a puppet, there IS money there to syphon. He might find that attractive but he was in Rangers for the adulation and fawning from the Scottish media, could he resist?

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