The cost of saving Sevco

Yesterday on the ploughed field of Hampden Park FC Sevco reached a favourable settlement with Celtic.

In the inaugural match between the two clubs the Scottish champions were in cruise control on a shocking surface against the crisis ridden Championship strugglers.

The Scottish Football Association had to get two things right yesterday; the pitch and the referee.

I think I now fully understand what the term ‘playing advantage’ means.

Sevco, every little helps…

I am assured by footie experts that had that game yesterday been played on a surface that actually allowed the ball to be passed (a novel concept in association football I’m sure) then the Sevco chaps would have suffered a much heavier defeat.

In the end it was not much of a sporting spectacle.

Yet this is the fixture that the stenographers had been gushing about.

Moreover the hacks are convinced that it is this mismatch which will save the national game.

Well I rather suspect that the denizens of Planet Fitba take a rather different view.

Sevco are generally viewed a sporting irrelevance.

However, this is not how it is meant to be for The People.

They need hope and the only thing that prevents them from spiralling deeper into a pit of despair is one David Cunningham King.

The Pollyanna view is that the South African based convicted criminal will secure enough votes at the Extraordinary General Meeting (EGM) and oust Big Mike’s guys.

Should this happen it might be worthwhile to examine what Mr King will actually control.

The season ticket money, corporate catering, programme sales, league prize money and TV revenues would be within his purview.

However he certainly would not command all that he surveyed from the Director’s box at Ibrox.

Mr Ashley would still control the advertising, carpark, Edmiston House, Murray Park, shirt sponsorship and the retail income.

I am sure that Big Mike’s legal people will be working very hard to make sure that any change of placemen after the EGM is as significant as deck chair rearranging on the deck of the Titanic as that very large ice cube came into view on the starboard bow.

Sources tell me that for Big Mike to do walking away from his Sevco experiment would take at least £25m.

Remember dear reader Mr Ashley must be seen to very visibly win this one or his reputation as a dealmaker would be damaged.

Then Mr King and his associates would have to travel in hope to the dangerous straits of the Sevco Triangle.

In those unregulated waters some say there be contracts, onerous contracts!

I am still awaiting some official rebuttal from Sevco PR to the news broken here last week that there are two debits per month totalling  £278k leaving the stadium that John Brown played for.

Apparently some of The People got very upset about this news.

Then again over the last three years I have often caused them some pain and suffering with my reportage.

However the material they have found unpleasant has been the truth and so it continues dear reader.

Sources tell me that this £278k per month is not a fixed amount and it will go up if they manage to get into the top flight of Scottish football.

I am informed that there is also an extra payment due if they reach a final or win a cup.

So Celtic actually saved the Sevco chaps some money yesterday. They also owe a debt of gratitude to Turnbull Hutton’s guys in the Ramsden’s Challenge Cup last season.

Sources inform me that Murray Park is not nearly as encumbered as Ibrox and that is why Big Mike has security over the former and not the latter.

If there is another reason why no one at RIFC has been able to raise finance against Ibrox stadium, despite trying several times since late 2013, then I am sure that the excellent PR machine at Sevco can put everyone straight.

Until that happens then I believe that there is a sum of around £6.75m outstanding on an initial loan made back in 2012.

Moreover I understand that this deal is legally untouchable out in the Sevco Triangle.

When that nice young Mr Stockbridge left the building in January 2014 I am told that his devices were very helpful indeed in painting the picture of the early days of Sevco.

Of course my sources could be wrong and a statement from the club or the company (I get confused between the two) would set the record straight.

They could also put me right by telling me that I am completely on the wrong track by believing that some of these payments last until 2030.

Of course Mr David Cunningham King can make all of this go away.

He can write Big Mike a cheque for £25m.

I am sure that the buccaneers out in the Sevco Triangle would probably be reasonable if the chat started at £15m.

So that’s forty million pounds.

A nice round number dear reader and I love nice round numbers.

In the coming weeks I rather suspect Mr King is about to find out what a ‘favourable settlement’ really looks like.

Leave a Reply