Sevco Financials Laid Bare - Dave King raking in 8% per annum - SFA Potentially Liable for £30M Hun debts in event of insolvency?

Imatim

Well-known member
If the financials are correct as reported in the link below, in the event of a further Sevco insolvency event, the SFA very well may be liable for any football debt to the tune of circa £30M, which they don’t have.

By the SFA allowing Sevco to run up a staggering amount of debt the future of Scottish Football may very well be on the line.

Is this why the Celtic Board are acting the way they are? Sevco are being allowed by the SFA to gamble with the future of Scottish Football?

Sevco financials laid bare.....

 
Last edited:

Steviebhoy2

Well-known member
If the financials are correct as reported in the link below, in the event of a further Sevco insolvency event, the SFA very well may be liable for any football debt to the tune of circa £30M, which they don’t have.

By the SFA allowing Sevco to run up a staggering amount of debt the future of Scottish Football may very well be on the line.

Is this why the Celtic Board are acting the way they are? Sevco are being allowed by the SFA to gamble with the future of Scottish Football?

Sevco financials laid bare.....

We knew things were bad over there financially but fek me it really is terminal. The issue of 67mil shares so far had me in stitches🤣🤣🤣
 

dmac

Well-known member
The thing that gets me is UEFA bang on about FFP but allow a team constantly reporting losses year after year participate in their competition if the FA of these teams don't follow FFP them surely UEFA should be enforcing it and stopping teams from participating in their competitions.
 

Imatim

Well-known member
The thing that gets me is UEFA bang on about FFP but allow a team constantly reporting losses year after year participate in their competition if the FA of these teams don't follow FFP them surely UEFA should be enforcing it and stopping teams from participating in their competitions.
.................

Apparently there’s a UEFA armistice this year due to Covid...
 

Millsy

Well-known member
Frankly with the UK Chancellor desperately looking around for a Magic Money tree to fund the Covid crisis , I'm really surprised that they haven't approached Sevco .
The Ibrokes Directors appear to have either found El Dorado hidden somewhere in an alley off Edmiston Drive or have got their own King Midas who can turn shit/debt into gold .

HH
 

michael duffy

Well-known member
Frankly with the UK Chancellor desperately looking around for a Magic Money tree to fund the Covid crisis , I'm really surprised that they haven't approached Sevco .
The Ibrokes Directors appear to have either found El Dorado hidden somewhere in an alley off Edmiston Drive or have got their own King Midas who can turn shit/debt into gold .

HH
They also have a covid antidote!
 

CelticRose

Well-known member
So much for being the wealthiest club in the country - it doesn’t matter one jot it appears. 😡 and it looks like they are benefitting all the way to getting the league too even although they are on life support financially you honestly couldn’t make that up.
would interesting if we could compare two clubs down south financially and see their results. Mmm.
 

boab1916

Well-known member
Were are the Kennedys of this world

"The very word "secrecy" is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths and secret proceedings.



And that is why our press was protected by the First (emphasized) Amendment-- the only business in America specifically protected by the Constitution-- not primarily to amuse and entertain, not to emphasize the trivial and sentimental, not to simply "give the public what it wants"--but to inform, to arouse, to reflect, to state our dangers and our opportunities, to indicate our crises and our choices, to lead, mold educate and sometimes even anger public opinion.

And so it is to the printing press--to the recorder of mans deeds, the keeper of his conscience, the courier of his news-- that we look for strength and assistance, confident that with your help man will
be what he was born to be: free and independent."


 

michael duffy

Well-known member
Were are the Kennedys of this world

"The very word "secrecy" is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths and secret proceedings.



And that is why our press was protected by the First (emphasized) Amendment-- the only business in America specifically protected by the Constitution-- not primarily to amuse and entertain, not to emphasize the trivial and sentimental, not to simply "give the public what it wants"--but to inform, to arouse, to reflect, to state our dangers and our opportunities, to indicate our crises and our choices, to lead, mold educate and sometimes even anger public opinion.

And so it is to the printing press--to the recorder of mans deeds, the keeper of his conscience, the courier of his news-- that we look for strength and assistance, confident that with your help man will
be what he was born to be: free and independent."


If only Boab!
 

Smelltheglove

Well-known member
Shares in what theres nothing on the stock exchange that would make you want to buy shares, the books show no profit, it's inside trading keeping a company solvent a company breaking the rules required for operating a football club.
their shares are worthless, they are converting debt into equity at 20p a share so its the equivalent of writing their loans off. And the idea of 20p a worthless share is cos that idiot mob of supporters is still paying in money every month through their DD scheme to buy more worthless shares,
Following every share issue, it dillutes their holding even further.
There's now 320 million shares in The Trainwreck Ltd
Fuck sake they've probably more shares than Facebook :)
 

Latest posts

Top