Craig Levein’s Case against the SFA Due in Court Wednesday 6th February

According to the Rolls of Court, a Commercial Court action between Craig Levein and the SFA will have a preliminary hearing on Wednesday 6th February (tomorrow).

It is due to call before Lord Woolman between 10.30 am and 11 am.

Normally at this stage it would not require the attendance of Mr Levein, but instead would be a hearing to determine further procedure in the case.

Mr Levein is represented by Dundas & Wilson, and the SFA by Burness, Paull & Williamson.

Both firms are “big hitters” and if the case had to proceed to a full hearing one would expect the top QCs to be instructed.

However most managerial dismissal cases in football end in a settlement, or, strangely enough, it is the ones of lower value at the foot of the league tables which make it all the way to the court.

It may simply be coincidence that the parties have been sniping at each other in the media over the weekend, all of which suggests that, even though settlement is the most likely outcome, it won’t happen tomorrow.

From what has been said publicly the issue seems to be one of mitigation of loss. The SFA does not, it appears, want to pay up Mr Levein’s contract in full only to have him walk into another job. An employer in these circumstances would often have the contractual right to prevent their employee working elsewhere where they are still paying him, or being asked to pay for a notice period.

Mr Levein understandably would like a lump sum to finish matters and to be able to gain employment without having to have this issue hanging over him.

We shall see what comes from the court, if anything, tomorrow.

Posted by Paul McConville

 

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117 Comments

Filed under Courts, Levein v SFA

117 responses to “Craig Levein’s Case against the SFA Due in Court Wednesday 6th February

  1. Budweiser

    paul
    Levein should get a job at ibrox. Chico is SO good at getting compensation.

  2. arb urns

    mr l- u have been found guilty of contempt of football- i will not have it in my court- order order- playing no forwards against the czech republic is highly contemptuous against the ‘joga benito’- take him down – thats justice as they say in football.

  3. carl31

    Me Levein, u are hereby awarded one months salary for every trophy you have lifted in your managerial career.
    Alternatively, you can opt for one months salary for every striker you played b the czech republic away.
    Or a Weeks salary for every point gained v higher ranked opposition during your Scotland managership.

  4. mick

    a hope mr L gets a high amount as its not far he was sacked by a board thats corrupt and as bent as a 2 bob rocket good luck to him and his legals
    the football union have to look at better protection of managers maybe its time for a managers union so boards cant just sack them then con them via highly paid legal teams mrL might not have given us the results we want but how are we to destablise a mans income on the back of glory hunting

  5. I presume that whilst the SFA manager position was vacant, the SFA where perfectly entitled to continue paying Levein on a monthly basis, regardless of what Levein himself wanted – i.e. a lump sum payoff ?

    However, as soon as WGS was appointed, would the SFA not then be obligated to resolve to ‘mutual satisfaction’, i.e. monthly payments no longer ‘reasonable’ ?

    Sounds like a waste of money on legal fees.
    And Levein has a brass neck !

    Perhaps a resolution to satisfy the paying fans would be to award Levein e.g. GBP1M of a pay off – but ‘fine’ him GBP900K for the infamous 6-4-0 formation…a formation which will shirley haunt him for the rest of his days.

  6. ecojon

    As our Rangers daily share price service appears to have broken down I thought I would step into the breach as it seems to be a matter of great interest to investor Bears. Obviously Market Cap has fallen a little but don’t worry too much as it really isn’t that important to such a cash-rich club which has just raised £22.2 million in an AIM Flotation and has money in the bank.

    Btw how much do you need these days to keep a bank account open?.

    Rangers International
    82.02p
    -2.98 (-3.51%)
    Feb 5 – Close

    Certainly volume was higher than often seen today but still not huge but the slow slide downwards continues and there appears to have been no late trades today which nudged the shares upwards.

    Still it would not be a wise man who reached any conclusions on the basis of one day’s results. Obviously things should become clearer especially with regard to institutional investors when we learn more about their investing decisions and how any lock-in period may or may not affect those decisions.

    However I trust that the price does not continue to fall as that would be a great pity for the grandchildren of chuckles who has announced that when he leaves Rangers in approx 10 years that he won’t be cashing-in his shares but leaving them for his grandchildren.

    How nice to think that the chuckle dynasty will continue so far into the future wherever the club is playing. Coupled with Ally at the helm for another 24 years it provides another sign of the stability craved by so many at Ibrox especially as would-be managers are casting covetous eyes at the £20 million warchest.

    • mick

      @ecojon theres massive bampottery that green has only sold 9 mil shares and the rest went to ticketus lol spivs soon to be proven via wind up orders and backers pulling out not 1 mention in msm thomo phil and corsia 1968 well on it lol factual evidence just round corner cant wait what a buzz

    • Den

      When the other guy finds out you have taken over his role, I foresee a big compensation claim.

  7. JimBhoy

    @Adam Crimes against facial hair wearers mate.. Maybe he had no mirrors in his house..

    • Adam

      My view is that in the last week or so, there cant have been many lunch meetings between a very specific list:

      A, Director of global private equity and securities firm
      B, Partner in international asset manager
      C, major UK entrepreneur
      D, Director of global niche bank & asset manager
      E, CEO of a UK bank

      So despite not naming any sources, it would be accepted that others would have known about such a lunch with such an illustrious team and that anyone sitting at the table would be worthy of such a place due their high standing credentials.

      It then follows that I dont for a minute believe that anyone in that company would then leave that lunch and blog it on the internet whilst taking cheap digs at Sevco etc.

      So in summary, whilst some of the premise of it may be true, and i didnt read it all, its really just a fantasy lunch wish-list.

      • mick

        adam academic bloggers base there articles on trust we trust them this is real if paul eco or auldhead or johnbhoy do a article we know that they have researched it and that the speculation in the content would usually turn out true its all starting to come out that person that done the article is a trusted soures and respected just like phil with his wind up order ,ticketus were given 12 mil shares by green thats was put forward today in cyber space 9 mil sold the rest gave away am loving it its tesco time soon lol

        • Adam

          Ah i see. Didnt know that. Ok the article is 100% real and he really did have lunch with all those folks.

        • ecojon

          @mick

          Well we do know how Adam based his ‘factual’ opinion that HMRC would not be granted leave to appeal to the FTTT. It was bsed on a ‘hunch’ – I think enuff said 🙂

          • Adam

            Opinion does not equal fact.
            Hunch does not equal fact.

            I know you know that but it is very endearing of you to try and help mick recover from this embarrassing link and claim that a guy with 363 Celtic followers on Twitter is a real deal who mixes with the upper echelon of the banking and UK entrepreneurial world. 😉

            • ecojon

              @Adam

              Just stick to your hunches Adam as you obviously fail to see the difference between them and informed opinions based on research and facts.

            • Adam

              You are wrong. I have often given opinion based on available data, research or facts. I have also given opinion based on a hunch.

              For example.

              It was my opinion based on available data, research or facts that Whyte was a wrong un. I was right.

              It was my opinion based on available data, research or facts that the FTTT would find against MIH and Rangers. I was wrong.

              It was my opinion based on a hunch that there would be no appeal. I was wrong.

          • SouthernExile

            Eco

            The linked article by “Corsica” is 110% bogus bullshit as Adam correctly says.

            See the following AIM announcement on cash raised:

            http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11433739

            Lots of people making arses of themselves about this on TSFM but as their moderation policy makes Komment Macht Frei on the graunird seem like a beacon of tolerance I cant put them straight.

            • Southern,
              I think the commenters are making it clear that there is rumour, guess and speculation around this issue. Comments then follow on from that standpoint.
              Your link is from the 19th Dec. I’d expected something more recent when I clicked – something that blows the rumour out of the water.

              My own view is that I find the story on a withdrawal of pledged investment, or a WU petition against Gers a bit difficult to fully believe. Ive thought that Mr Green more likely than not will face cashflow problems soon, but these reported issues from Corsica and PMacG I dont quite buy them. WUs can be a threat tool, as in the Killie situation…

            • arb urns

              “Rangers is a huge club with enormous support, and, a 140 year track record of success in both the domestic and international arenas. With a settled squad, led by manager Ally McCoist, the Club has made a strong start to the 2012/13 season and the Rangers brand and facilities provide tremendous opportunities for commercialisation and expansion. The listing on AIM is an important step to ensuring the future success of the Club.”

              southern not much comfort going around at the moment i’m afraid- above is one of the best classic ‘chicos’ from your above link- u can play with it for ages

              ‘settled squad’- your stuck with them mate
              ‘led’- led astray by
              ‘strong start’- out of three cups with almost 4 months of the season to go
              ‘tremendous opportunities’- to screw the fanbase for cash time after time
              ‘important step to ensuring future success’- of ME.

              read your whole link there is over 33m shares unaccounted for, the octopus is still in the room, chico has over 5m shares do you honestly believe he has stumped up over £3.5m in cash in the IPO as a fan with this number would have had to do.

              I think micks lunch would have see a rain check but there is fish on the menu if it ever does take plaice !!!!

            • ecojon

              @ Southern Exile

              SouthernExile
              February 5, 2013 at 10:19 pm

              You roused my curiosity so I looked at the Corsica article http://alzipratu.wordpress.com/2013/02/05/39/

              And in particular note the section:

              ‘2. Placed Shares – these shares were pre-sold to a number of institutions (but see above) subject to certain conditions. If you read the Prospectus very carefully not all of the conditions have been revealed. It is our understanding and perfectly feasible therefore that no cash has been paid to RIFC plc for these shares. Furthermore, if you read the Prospectus very carefully again, there is no definitive statement that cash is guaranteed to be received for these shares. They do ‘though have a cash value hence the Prospectus and subsequent statements refer to “Share Capital”.

              If I understand your position it is that approx £22.2 million was raised by Rangers International through the AIM Flotation. If that is the case why was it stated to hundreds of Rangers opinion-forming Bears by the club’s director of communications, in the presence of chuckles, that only £10 million had been raised.

              We all make mistakes but why wasn’t it immediately corrected or later corrected on the Rangers website?

  8. Just in time for the international friendly with Estonia at Pittodrie! I know you can’t choose court dates in the way you can time press releases, but it might turn out to be the perfect day to bury bad news.

  9. mick

    BD do you think we might get bad news a kick off just like olympic start night lol

  10. JimBhoy

    Does Levein deserve to get what is due to him, yeah…
    Was he a disaster for Scotland, yeah.
    Should the man who employed him have written a better contract and had regular meetings to appraise performances, yeah.
    Should the man who employed him and who will lose the footballing authorities a good few quid to get rid of him also GTF, yeah…

    Now my main concern is with Strachan, for me the wrong appointment when you had younger more attack minded managers available, Owen Coyle would have been my pick….Kenny Miller has had it as a Scotland player, case in point… We should be building on youth.

    Strachan will become the new Pa Broon, I was at that Belgian game way back in the day, not willing to take chances. We haven’t got world beaters but we have a fan base who love their fitbs’ and not just to accept a hiding. Go out and show us some attacking flair, take a chance on a fearless youth, you never know might bring a youthful confidence thru the team instead of the usual back to the wall sh!t from the so called safer options…

  11. JimBhoy

    @Mick re: the article I agree with some of the assumptions drawn but it looks like that post was written by a primary school wean (at remedial class).

  12. mick

    jim its the real deal theres drama ahead popcorn and cola time ,the article is by a respect blogger and his twitter is full of well known names

  13. JimBhoy

    @Mick I take your word for it mate, you are a cyberspace knight I am a mere pawn.. I have said more than once that the best thing that can happen to rangers is for Chico Verde to GTF and some proper rangers men with some business acumen to come in with a long term visible plan… It would also clear the decks to get rid of the useless fat Sally, that won’t happen whilst Chico is the rangers defender. Just my thoughts.

    • mick

      jim your a king on here theres no division just some with more info were all the same with 1 goal to put integrity back at the top of our game and to make cyber friends and have a laugh along the way

  14. mick

    @THE_TBK
    @BartinMain @SpiersGraham
    phil and angela scotzine tons of them

    there big hitters trusted its real ! 100%

  15. Adam

    364 followers on Twitter. 363 Celtic fans and Alex Thomson. LOL 🙂

  16. ecojon

    Andrew Dickson – Rangers football administration boss – talking about chuckles and his current trip to meet Bears in the Middle East. Dickson stated: “Dubai is a place Charles knows well – he has spent a lot of time there opening cancer research clinics and he knows the area inside out.”

    I can only assume Dickson didn’t know about chuckles and his failed: ‘Last ditch solution’ to save his ‘Jewel in the Crown’ Dubai operation but I’m not surprised it remains in chuckle’s memory despite the passage of the sands of time 🙂
    .
    https://scotslawthoughts.wordpress.com/2012/09/13/could-charlie-greens-rangers-float-turn-into-a-lead-lifebelt-by-ecojon/

    Chuckles became CEO of Medical Solutions Plc in February 2002 and stated that 2003: ‘Is set to be a fast moving and rewarding year for the Group, which is well positioned for expansion.’

    This duly followed in Dubai, Kuwait and Qatar in 2003 and 2004 but the 2004 Medical Solutions’ annual report described it as a ‘challenging year’ for the company, adding: ‘Having made significant investment into our operational capabilities in 2003, the level of revenue growth we anticipated did not materialise as quickly as we had hoped. This led to a drain on the Group’s cash resources.’

    The disastrous state of the company, which hadn’t turned a profit for four years in a row, was publicly revealed in November 2004 with its value more than halved to £12 million and shares slumping 58% to close at 8.5p. Shareholders bombarded Medical Solutions HQ with phone calls angry at their losses as many bought shares earlier in the year at 35p when the company raised £2 million to fund expansion.

    Fresh money was urgently needed for survival and its ‘jewel in the crown’ Dubai operation, bought only months before, faced being sold as: ‘A last ditch solution’.

    The company acted swiftly and decisively and in January 2005 organised a share placement and offer and raised £5.7 million to stabilise the company. They then set about reversing the 2004 decline and by September 2005, Medical Solutions announced that CEO Green would be concentrating his efforts, for the foreseeable future, on the Group’s Dubai business with a view to ‘maximising shareholder value’ and that his CEO duties would be assumed by the company’s Chief Financial Officer.

    Mr Green’s contract had a 12 month notice period and he left Medical Solutions in August 2006 with a £200,000 compensation package and the Dubai operation was disposed of three months later.

    • mick

      well ecojon at least last year you did great investigative work and tried to warn them even the media last year were stealing your work from time to time

    • Budweiser

      @ecojon

      What about these quotes from chico :-
      ” Clearly you couldn’t pick a worse time to float from a market point of view”.— and —“The amount of time spent doing an IPO is huge”.
      also there were ‘concerns for investors about the close connections of the company to its major investors’.
      The above should have been in the ‘ Deja Vu’ blog, as I’m sure you know, they are not about the recent AIM floatation but the disastrous Panceltica floatation.
      I must have missed the infamous quote in the ibrox floatation ie ” it’s just like building a Meccano set”.
      I well remember Meccano and if there were a few nuts and bolts missing or in the wrong place the whole thing was shaky and tended to collapse – just like Panceltica – couldn’t make the same mistake twice shirley?

  17. Adam

    185 tweets. LOL 🙂

    The real deal. 🙂

    • ecojon

      @Adam

      What’s your twitter address so that I can see how a professional handles their tweeting 🙂

      • Adam

        Im not a professional. Nor a big hitter. I do follow Duncan Bannatyne right enough and he has 600k followers. Think Lord Sugar is about 2.5m now. Just checking if any of them are following the 363 Celtic fan guy who is the real deal. LOL 🙂

  18. JimBhoy

    @Adam or just 364 Celtic fans 🙂

  19. mick

    adam you a celeb online infamous thou lol

    • Adam

      Sorry, babelfish is struggling with that one. Can you try again please?

      • ecojon

        @Adam

        I see we are in full deflection mode tonight Adam 🙂

        • Adam

          ?? Deflection mode from what exactly ? mick asked me my opinion on a blog which if you are being honest with yourself, you know the lunch with those 5 bigwigs is about as likely as a good article written by David Leggatt.

          Whats your honest opinion ?

          Do you believe that blogger had lunch with those 5 ?

          • ecojon

            @Adam

            I haven’t a clue and I haven’t read the blog and tend not to read many blogs but try usually to find source documentation but then that’s just the way I’m built as I have found that hunches can land people in deep doo doo as well as making them look stoopit.

            So what is your twitter address and how many followers do you have hanging on your pearls of wisdom or even hunches?

          • mick

            compereing with leggo is deflection just like you do with phil

  20. JimBhoy

    You know what ! I blame Lawell for all this… He inventing t’internet and co-developer of Apple and MS operating systems and Modem then wireless and broadband solutions has really fuk’d everything up… Right now without all that technology, I’d be reading the daily record for the second time and Evening times right now and getting a true reflection of the real football news…

  21. JimBhoy

    i read an article (Online free of course) from K jingle jangle jackson maybe yesterday and it was quite forthright and almost accurate, he expressed some opinion… Yeah I know it’s hard to believe..!!! Maybe there is a young pretender.

    • ecojon

      @JimBhoy

      There may yet be hope for him although perhaps he’s just been instructed to find some objectivity after being under a very oppressive mountainous shadow for so long..

  22. mick

    the true voice of scottish football is andy and co at scotzine

    • Adam

      What team does he support?

      • ecojon

        @Adam

        Don’t you think that it would be better to read his articles and form an opinion on them rather than make an asumption dependent on what team he supports?

        Next you’ll be wanting to know what school he went to.

        • Adam

          I have read his articles. I know what team he supports. It was meant to be sarcasm.

          • mick

            well what team is he then you have to share it with us now were chatting about it

          • ecojon

            @Adam

            Deflect away.

            I will repeat: ‘So what is your twitter address and how many followers do you have?’

            I’m beginning to think it must be a secret and that’s me being charitable towards you.

            • Adam

              I answered you above. I have 30 family and closest friends on my twitter. Thats who im happy to share what i do in my private life with, but thanks for the interest.

        • mick

          lol adam a dont think hes a glory hunter like most of us on here lower division he might even be sevco

  23. mick

    http://www.scotzine.com/ contact him and ask him his reports are non bias so a cant determine what club he is .

    • Adam

      This is the reason I cant take some people serious on here. I can call things without fear no favour no matter what side they fall on. For some, there is just no allowance at all. Everything GREEN is good. Everything BLUE is bile. Best bloggers are all Celtic. Best twitter all Celtic. Best journos are Celtic. Best fans are all Celtic. All evil is Rangers. All bad journos are Rangers.

      Its a form of brainwashing and would make for a real interesting study by a complete outsider from a top US school or Uni.

      • mick

        adam is that an admission celtic good
        sevco bad lol

      • ecojon

        @Adam

        Obviously I know you can’t be referring to me because there isn’t a post of mine that would support your statement as far as my position goes. You really are starting to lose it and show signs of stress IMHO.

        However what is your twitter address and how many followers do you have? You haven’t been imagining this big circle of cyber friends have you? I would hate to think you’re a Billy No Mates.

        • Adam

          I wasnt even quoting you there. And you dont seem to want to let this twitter thing go ? I dont have many followers but ive never claimed to.

          Im really not sure where you are going with this to be honest.

          • ecojon

            @Adam

            But I know where you’re going and that’s digging a hole. Very bad form to attack someone else with only having a few hundred followers and yet have none yourself.

            But I note you appear ashamed to give your twitter address – is that because you say things on there that you might not want repeated here. You’re happy to rip other people’s twitter accounts to shreds who are open and honest about their opinions.

            But you are secretive – must be all those charitable causes an good works you are involved with 🙂

            I have learnt a lot about you tonight Adam – very enlightening. Obviously I haven’t learnt your secret twitter address but no doubt other people will form their own opinions on that matter.

            • Adam

              Either you are missing part of the story or deliberately trying to mislead people.

              The reason im laughing at the number of followers is Micks claim that the guy is a respected blogger with all the right connections. I was asked to check out his blog(of which there only appears to be one) and his twitter account which has screeds of Celtic fans following it.

              Now from this, i have been asked to believe this guy mixes with 5 major people in the City then comes back up the road and tweets and blogs about them to 363 Celtic fans.

              You would need to lack the basic sense of humour to not find that funny.

              For the record though, I was not deriding the guy for only having 364 followers on Twitter. That would be silly given my lowly 30.

  24. mick

    so what team is andy ???

  25. JimBhoy

    @Adam Eco and Mick have finally converted you mate, that dyke has been vaulted over… Grass is always greener on the other side…. However I disagree though everything Green ain’t good.. Just ask the Sheffield fans and countless others put on the knackers by that sharlatan…

  26. mick

    adam we would all like to follow you on twitter were your cyber mates why dont you do a second account for blogging the whole of scotland would want to follow you being so infamous

  27. JimBhoy

    Spiers talks about Sally tonight, pretty much on the ball imo… Nae harm to Sally met him on a plane one time when he was eyeing up the talent but a nice quiet guy (then). I am sure he was in the papers soon after.. 🙂

  28. JohnBhoy

    The Rangers website brags about Charlie rubbing “shoulders with some of the world’s top clubs today at the European Club Association conference in Qatar”. Stony-faced and without any trace of irony – unless Malcolm Murray is having a wee laugh at Charlie’s expense – there is pointed reference to a key item on the conference agenda: “Financial Fair Play rules imposed by UEFA which will kick in next season in term of clubs being run fiscally prudently and the problem of Third Party Ownership of players’ rights.”

    • tykebhoy

      Funny you should say that our favourite stock market reporter’s preferred blogger writes along similar lines as FPP today. He’s also suggesting that SPL matches are now fixed courtesy of one club not being allowed to play in this years SPL and the blame for that being put entirely on a different club. They don’t do irony do they because they obviously have already forgotten the SFA panel found that only match fixing was a more serious breach!

  29. ecojon

    @JimBhoy

    Coisty could have been a really good guy and I have a soft spot for him but he went down a certain road and it’s always hard to reverse direction on that slippery slope. At heart I think he’s OK but sometimes he can’t control the nastiness but then he isn’t Brain of Britain like all the Celtic bampots according to Adam 🙂

  30. mick

    a liked him up in till the fans have the right to know comment after that a lost all respect for him

  31. mick

    Cybertims ‏@Cybertims
    Charles Green. selling off assets after a winding up order served on sevco/TRFC?. strong rumours flying around. anyone in the know?

    whats left the loving cup and 500 thou of old pies he really is doomed

  32. dan

    Listen, this is a serious question. I know nothing about Twitter. How does it work? I mean, if I were to get a Twitter account, what happens next? Adam. Eco—anybody out there?

    • ecojon

      @ dan

      I ain’t into twitter so don’t have a clue I’m afraid – sorry.

    • tykebhoy

      a bit like a combo of this and email really.except your emails (tweets) are limited to 140 characters and anybody who finds your account can choose to recieve those emails as followers. You can also choose to follow whoever you want and receive all their “emails”.

      You initially know who you are tweeting to, your followers, but they can then retweet to theirs and that can become viral if your tweet is good enough.

      Be careful what you tweet though as it can lead to libel claims through civil courts or criminal prosecutions.

  33. ecojon

    Absolute stormer of a story re Dunfermline was in Mail on Sunday. Full Copy at:
    http://dafc.info/forum/read.php?f=1&i=1249974&t=1249856

    THE Bank of Scotland agreed a £12 million loan deal to a company owned by its former managing director which allows it to skip repayments for the next 35 years.
    ‘TOXIC’ DEAL: Mr Masterton, left, and the East End Park ground at the centre of the loan agreement
    A Scottish Mail on Sunday investigation can reveal former top banker and Dunfermline Athletic owner Gavin Masterton’s firm was handed the cash in a deal personally approved by disgraced HBOS executive Peter Cummings.
    The generous agreement was struck at the height of the global financial crisis, when thousands of Scots were struggling to get mortgages and loans from the now taxpayerbacked bank.
    Details of the £12.2 million deal show the 71-year-old’s company does not have to make a single repayment on the debt until 2043, when the full amount is due to be paid back to the bank.

  34. mick

    http://local.stv.tv/glasgow/212788-ex-rangers-boss-craig-whytes-evidence-in-theft-case-may-be-false/

    will his frudulant insurance cliam run cuncurrant with his non payment of tax sentance lol will he ever come back from monaco to find out lol

  35. jimbhoy

    Personally i think twitter is for twits, just ask Leigh Griffiths.

    @Eco weren’t banks taken to task this week for charging over the odds to smaller businesses this week, sickens me for the guys trying to make a difference, each large business starts with a small business and a favourable market/luck… The banks suck the life outta that we are fukd for a long time..

  36. jimbhoy

    So we have greedy bankers and associates, people who aggressively avoid paying their way NOT to help the society they bleed… I would say get them together and every person who was conned gets to boot them in the cajoneys/other bits…. Way too lenient as a society….

    Your company is based offshore and your customer here then get on the next fukin boat or swim…..!

  37. NLO

    I just can’t get my head round the reasons that a capitalist without any emotional loyalty would invest in a Scottish third division team when the former team was losing vast amounts of cash when they were in the top league and competing in Europe. If I had say £10 million in the bank I doubt whether anyone could persuade me that investing in a third division club was a better move than keeping it in the bank. In fact I doubt whether anyone could convince me to invest in any football club in order to make more cash. No, the only reason you put cash into a football club In Scotland is because you are a fan. There must therefore be another reason that these “investors” appear as shareholders. I can only speculate about these speculators.

  38. SouthernExile

    Eco

    The linked article by “Corsica” is 110% bogus bullshit as Adam correctly says.

    See the following AIM announcement on cash raised:

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11433739

    Lots of people making arses of themselves about this on TSFM but as their moderation policy makes Komment Macht Frei on the graunird seem like a beacon of tolerance I cant put them straight.

    • Cash is King, especially when the going is difficult.
      The amount raised is not necessarily all cash, and its important to realise this.

    • John C

      That raises more questions, didn’t traynor say they only raised £9M cash ?
      What happened to the other £13M ?

      • ecojon

        @John C

        I think that is a major question but when this was stated at the meeting of 300 top fan reps the only actual question I could see was whether the seats would remain the same colour after the stadium was renamed.

        espite dozens of fans orgs being represented at the meeting on 23 January I haven’t seen one mention raised on the Darkside about the other £13m.

        They know about it and I have come to the conclusion they don’t want to know the answer because they are too scared as it is liable to burst the bubble.

    • ecojon

      @SouthernExile

      I’m not sure about the relevance of this to me and assume you meant to address it to someone else.

  39. JimBhoy

    NLO fella i asked same question (Ironically!!!!!!) there could be tax breaks for investing, it makes me wanna go find a rope… Really!!! Someone may be able to add more.. If this is the case, no sure my decision not to move to Mountain View California 17 years ago was prudent…

  40. NLO

    Q. How to make cash out of investing in Rangers?
    1. you buy shares at 70p per share and sell them in two years time at £1.50 or,
    2. business is booming and cash is rolling in from dividends of the profits and no way would you sell them at any price or,
    3. you get the shares for zilch and sell them for 5p per share in two years time leaving a rump of a business in which the remaining shareholders are faced with downsizing the business.
    Not being a cynic, honest, I’m sure that answers 1 and 2 are correct.

    • Den

      A few of us have been pondering the “investors” issue.

      The economics of football, certainly at present, means that it is hard to balance the books never mind paying a return to shareholders. The only people who put money in is the fans and the armchair punters through their subscriptions, everybody else just takes on a huge scale.

      The strange this is the higher your achievement and ambition the less chance of profit.

      On that basis anyone who wants to make a commercial return on their money will avoid football.

      I suspect that the institutional investors were nominees and getting a fee for their services rather than investing on their own behalf. I hope my pension fund has no stake in any football club. I would prefer to invest it in beer right now.

      The half year accounts will be very interesting if they should appear.

    • ecojon

      @NLO

      I think tax allowable write-offs against other profits have to be factored-in as with the various investment schemes promoted or backed by the government which can attract high tax payers.

      There is also the sale and leaseback of assets such as the stadium from the holding or operating company to the ‘Club’ or even the supporters who who be sold the idea that they really could own the ‘club’.

  41. jimbhoy

    Swung the german rear wheel drive all over the place this morn now it’s dry as a dyke… ah well….! Car looks great but range rover evoke may not be far away..

    Spouted enough rubbish tonight fellas time for Zzzzs only so many roadcop programs a man can watch…

    You’all sleep well whatever your persuisance ….

  42. dan

    Since I was given some free advice about Twitter by tykebhoy, and since some posts have been about avaricious bankers, can I recommend two books about the 2008 crisis, The first is entitled ‘The Quants’ and will surely appeal to a numbers man like Adam ( as I seriously struggled with some of the concepts—but am not ashamed, as so did Sir Fred and his cronies who clearly didn’t understand what they were getting into on the advice of ‘The Quants’. The second is entitled ‘Whoops!’ by John Lanchester, and is a bit more accessible. After reading both I invested in government bonds. The return is pish, but the capital is safe. And if you really want to be lying awake at night worrying about any dosh you might have, try ‘No One Would Listen’ which is the scarcely credible ( but incredibly true) story about the wee guy who tried for years to get the US Securities And Exchange Commission to accept that Bernie Maddof was operating a Ponzi scheme. Honestly you will not believe what Bernie got up to—such as claiming to have made trades on Wall Street—-on a Sunday!!!!!!

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