Sevco Face Being Gavelled Out Of Existence

Judge holding gavelToday a bunch of men stood in a courtroom, accused of a variety of offences relating to the takeover of Rangers assets. I’m not going into detail on what those charges involve; we’ve been over the course before and we know the stories.

A few weeks ago I wrote a piece about how a lot of Sevco fans believe in something akin to fairies at the bottom of the garden; that all of their current tribulations will be unravelled as these court cases speed towards the end, and that a bunch of money will end up in their bank account.

Their demands, made in that typically simple-minded style of theirs, are for guilty verdicts all round, for people to be sent to prison.

Yet those of us who’ve been watching this thing unfold know that in the event they get what they want they aren’t going to like, not one bit, what it is that they actually get.

Because if all these people are prosecuted, that will leave their club in utter turmoil.

So many of the salient details of this have passed these people by.

Some think that all the money they claim has been stolen (I’m willing to bet none actually was) will be returned,

Others are overcome with bloodlust and the need for people to be punished, and they want this whether it helps them or not.

Because they are reckless, and heedless of the danger these cases present, and to the damage that will probably be done to them in due course.

Sevco fans are like children at times.

You can try to tell them stuff, but they are wilful and not over fond of listening to what you say.

There’s a part of me that wants to keep watching them fall off the swings.

Sooner or later, it’s got to hurt enough to get through.

The trouble is, I’ve been saying that for near on four years now and you know what?

They haven’t learned a single lesson yet.

So, one more time let’s play the game out.

If Sevco fans don’t get their fondest wish, and these cases end in Not Guilty verdicts the people who they claim leeched their club will walk away free and clear.

There are few amongst the Sevco support who want to see that outcome, because they really do believe the Victim Myth and they really do believe the best way to unravel the last four years is for people to go to prison and for someone in their club to start the lengthy process of trying to claw back all the money they claim walked away at the same time.

As I outlined previously, that is simply not going to happen and the fans who believe in it are in for the rudest awakening of their lives, regardless of the verdict here.

Should Green, Whyte and the rest walk out of court free and clear, you will hear the wailing all across Scotland.

You might even get the odd conspiracy theorist talking, with a nudge and a wink, about a judge and jury who all went to schools with similar sounding names.

But all of it will pale into insignificance if these folks are convicted.

For a start, serious questions will need to be answered at the SFA.

Those boyos are up to this in their necks, as their scandalous failure of due diligence – the most glaring, blatant and shocking example of which was their decision to let Sevco “investigate itself” when the claims about Whyte’s involvement in the Green takeover emerged – will attest.

If they’ve granted a license to a company that ought not to have existed, then that’s all she wrote and heads are going to have to roll down the Hampden stairs. I cannot articulate enough just how serious that would be, and how dangerous it is for the governing bodies.

The consequences for Sevco … well they would be worse.

They would be far worse.

If the takeover of the club is found to have been illegal then everything that came after it will be invalidated.

The current shares would be wiped out as the shareholders would be left with stakes in a company that owned no assets and had no value.

There would be an enormous, complicated and time consuming legal battle over those assets … involving King, Ashley, the banks, the current shareholders, the plaintiffs and even the creditors of the OldCo, who would certainly be able to claim that they might have had more money if the fix wasn’t in.

How long would all that take?

Years, probably.

You’d certainly see those who bought shares in the last stock issue suing people.

You’d see HMRC come back in for their cut, via BDO.

What’s more incredible is that part of these proceedings relate to what Green is subsequently alleged to have done to Whyte … therefore, you’ll probably see the plaintiffs themselves counter-suing the Hell out of each other.

All these cases would, of course, be subject to appeals.

For the second time in five years, fans who thought they had a piece of their club would be left with nothing to show for it.

I am amazed that more of them aren’t concerned by that.

The lawyers would get fat, and rich, off of it all and the jelly and ice cream would be consumed in large quantities as we watched the unfolding carnage, but Sevco itself would be shattered.

Not even the SFA could grant a license to a club who’s intellectual property, who’s stadium, who’s player contracts and who’s shares were the registered assets of an organisation struck off the register at Companies House and in the midst of a legal minefield.

Do the Sevco fans realise any of this?

Or are they still kidding themselves that this has a happy ending?

Over on CQN, Paul67 ended his piece today with the words “They are finished. Finished.”

He is not a guy who’s opinion can be readily dismissed, as he researches this stuff thoroughly before he posts up as much as a word.

His suggestion that the fans ought to have accepted the reality of all this back in 2012 and formed a club free of all this was sensible, and right, and that King and others have stumbled into this minefield is darkly funny to me.

When the Real Rangers Men made their initial effort to destabilise Green – right at the beginning, when he got the assets – they could have accepted the death of the OldCo as most rational people do, and started an alternative club, competing with the Green consortium for the only thing that really mattered in all this – the hearts and minds of the supporters.

What seduced everyone involved was the same old stuff; the bling.

A big stadium. A fancy training ground. A history that they’ve reduced to nothing but words on a page, and a list of trophies, instead of remembering what it actually is; memories, legends, stories for the grandkids.

What’s done for them is typically ego and idiocy in equal measure.

What would happen to Scottish football in this scenario?

It appals me that no-one in our game is even remotely considering that question, because it has implications that are simply staggering.

This crisis is set to engulf the people who thought it was all going away.

It’s not going away.

Sevco are about to be gavelled towards extinction.

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24 comments on “Sevco Face Being Gavelled Out Of Existence
  1. James to you honestly think that anything will be done to the Hun, you really are kidding yourself but your not kidding me. You like others have been trying to tell us (the Celtic support) that this shower of bassas are going to suffer for years and they still persist. I would go as far as to say that it is the Tic support that have suffered more since all this fraud etc surfaced. It is our team that have lost fans not theirs and who can blame us for what they have been allowed to get away with. James give it a rest it is our team that has suffered for their cheating.

  2. You can still get 16/1 on hibs winning the championship,ive backed them,its a 15 or 25 point deduction for an insolvency event! Winnings from the bookies to buy more jelly n ice cream?

  3. Honestly, if the powers that be at Sevco, let’s say Paul Murray for talking’s sake, started a brand new football club and for their sake, appealing to Sevco’s fans, free of all the controversy surrounding Sevco and Rangers, and hopefully free of the other less savoury stuff, I would genuinely wish them all the best with it.

  4. Ahem ! Ahem ! cough cough ! ponder ! What happens if they are to a man found not guilty.Whiter than White even….. After all ! this is Scotland,don,t think so but stranger things have happened at sea

  5. I belieive it when it happens, but in reality somehow Scotland will contrive to keep them alive or will yet again formulate a new club as if nothing ever happened. We will see the veiled threats of catasrophe and the direct threat we had before of civil disobedience etc. I’ll only ever be fully satisfied when we are playing in a different league away from the bigots and the cowards that run Scotlands football and Scotlands football media.

  6. Ironically, the best case scenario for Sevco is that all of the gentlemen currently charged are found not guilty or the charges are dropped.

    They should really be offering to pay Charles Green\’s legal fees and doing everything to help him and Duff and Phelps win.

    Whether due process will find them to be innocent is another matter, but it would be the utilitarian outcome for Sevco and the collective incomes of all Scottish football clubs.

    It baffles me how the fans cannot seem to fathom this, they seem to want those accused to be found guilty when the reality is that they would be cutting their nose to spite their face, so to speak.

    If any of these guys are found not guilty Sevco\’ll get liquidated again and the process carried out by Green and Duff&Phelps will have to be repeated. They will need to go back down to Division 3, that will really test the current fans\’ resolution. A bunch of people will then sue Green and Duff and Phelps and which will likely be to no avail as they will declare themselves bankrupt.

    As a supporter of Scottish football it\’s difficult to make a decision on what outcome you would like to see, this is a very, very important case and I think more important than many people in the mainstream media realise.

  7. Regardless of any of the possible outcomes all I see ahead for them is year after year of bitter (and nobody does bitter better than this mob) infighting and litigation, constant crisis and dis-unity, stifled growth and stagnation. Most of all they will be totally ill equipped to mount any kind of serious challenge for honours.

    Bring it on.

  8. It is not \”who\’s stadium\” or \”who\’s shares\” or \”who\’s intellectual property\” It is \”whose\”.

    \”Who\’s\” is who is.

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