The brilliant article that warned Sevco of liquidation TEN YEARS before it happened. And the crazy reason why it failed
Tonight is is night where many Celtic fans fell in love ten years ago.
They fell in love with Craig Whyte as the man that brought down Rangers.
And in spectacular fashion.
But it could have be oh so different if the Rangers fans listened to what their former Director, Hugh Adams, warned them of a massive ten years before the event.
Adams spoke [The Scotsman] when he sold off his shareholding with a stark warning for the Ibrox fans, “In the past five years – and it’s all there in the last annual report – Rangers have lost 80million.
“Now, the banks are well known for being a bit more tolerant of companies whose core business is a popular pursuit like football. But there is a limit to how far backwards they can bend to accommodate you.
“David Murray has always had an amazing persuasiveness when it comes to getting people to put money into his businesses, but the signs are that those sources have dried up.”
A stark warning in an article dated 2nd February 2002. But of course, the peepul, bolstered by their huge sense of entitlement with their WATP mentality never listened.
And the rest, as they say, is history.
And why did they not listen? Why did the Rangers fans not take heed? I myself am not sure but a reason was mooted out on twitter which seems reasonable enought:
They let their club die because the former Director praised their rivals. I’m trying to source this but, if true, that is incredible.
And proves the mentality that surrounded the club at the time.
Pretty much the same as the mentality now as they don’t bat an eyelid at £100m losses in 10 years.
But it’s ok, we beat our rivals to the title………