Crowdfunding Sevco

Jock Stein was not just a tactical genius and a great motivator.

He also understood that he was in the entertainment business.

“Football is nothing without fans” he wisely observed.

In the age of the corporate box and multi-billon TV deals it was heartening to see the immediate impact of the recent walkout by Liverpool fans.

The climb down by their board over ticket prices reminded me of the days of Celts for Change in the early 1990s.

This time, four years ago the supporters of Rangers FC were coming to terms with the fact that their club was in Administration.

As I wrote in Downfall later that year, one of the mysteries of the entire saga was why the fans of the Ibrox club had rubbernecked as Rangers (1872) had been extinguished.

Now that cannot be said of their interaction with Sevco.

Of course, to lose one football club at Ibrox might be unfortunate, but to lose two could be considered careless.

Undignified even…

Recently, the whole of Planet Fitba have been in the debt of freelance journalist James Doleman.

I have found his accurate court reporting of Sevco’s legal issues invaluable.

For the avoidance of doubt, he has to eat and what he offers up for free costs him.

Hence, he has sought to be ‘Crowdfunded’ to carry out his work on Twitter.

Thankfully, many have stepped up.

However, some among The People have sought to denigrate this request to support his independent lamb free journalism.

James himself has drily observed that the same dignified chaps followed his work with great interest.

In fairness, I find that The People do hypocrisy rather well.

Now it would appear that the new club on Edmiston Drive is interested in a bit of crowdfunding themselves.

Of course, all football clubs rely on the revenues that their supporters bring in.

However, this is rather different I feel.

The story recently of the unsecured loan from the Rangers First organisation was something that I thought the Fitba Fourth Estate should have been all over.

The loan was going through; then it wasn’t.

Now, this week the Rangers First chaps are having elections.

I wish all of the candidates well in their desire for such high office.

Remember dear reader, the chap at the top of the Marble Staircase, had certainly left the impression that his own millions would be in the game by now.


One thing that the New Regime can call on is an entirely obedient local media.

Anyone working in sports journalism in Scotland knows the rules about reporting on matters Ibrox.

If they did not get the memo then, the recent departures of Angela Haggerty and Graham Spiers from the Sunday Herald and Herald respectively would have rammed home the message.

The story that a club might require external finance from a supporters’ organisation to make it through the season IS a story.

That the club in question is loss making and cannot get a credit line from a bank should again be back page splash material.

Moreover, that the chap in charge of the Holding Company Vehicle has 41 convictions for tax offences should frame the narrative.

Instead, all that is available to read in print is fuzzy warm PR approved pish about fearlessly facing down Zulus.

Meanwhile, the Dignified Debits will be needed to keep the lights on until the same bank accounts shell out for Season Tickets again.

This is not how it was meant to be.

Last March Mr David Cunningham King Jetted In and The People assumed that he had a War Chest in his luggage.

I wrote then that what we were witnessing was an underfunded hostile take-over.

A chap in one of the original institutional investors reminded me last week of an observation he had made to me over a year ago.

He said it to me when the South African based entrepreneur was grandstanding at a presser immediately before taking over.

A year ago he said to me that the Dave King plan was “…all about other people’s money…” it would appear that he was correct.

However, The People do not appear to care.

There are Real Rangers Men at the top of the Marble Staircase and the entire dilapidated arena once more shakes to the sound of their favourite song.

Apparently all is well in their world if they can tunefully wade up their knees in Fenian blood and celebrate the memory of a member of the Ku Klux Klan.

Mr Square Mile chap took me through a checklist of some hard financial realities that won’t Do Walking Away:

The continued operating losses.

The failure to access a credit line from a bank.

The reason that auditors Deloitte Did Walking Away.

The circumstances under which the Sports Direct loan was hastily repaid.

The growing debt burden.

The inability to raise finance from a public exchange.

The need for the fans to contribute monthly subventions over and above the normal season ticket and match day spend.


For the Sevcominded, these facts on the ground do not make for pleasant reading.

Luckily for The People those truths are not available in print format so most of them will not be troubled by these disturbing realities.


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