Celtic

Bundle of assets set to be sold from under Them

In any normal corporate disaster such as the implosion of the Oldco, the assets are sold to the highest bidders to recover money for those who are creditors to the company in administration.

That is to say that things like Murray park would have been sold for maybe £5-8 million, Ibrox would have had little value other than property due to the fact no one wants or needs it and the stadium itself needs major work.

If administration comes around you can bet that quick sales revolving around SPFL kickoffs will not influence the administrators, Duff and Phelps are in court for over £25 million in damages after all.

So if admin comes along, what will be sold to pay the bills?

I suggest that Edminston House and the Albion Car Park will be sold first.

The car park can be developed into flats or a supermarket or someone can buy it and make money of The Rangers fans every second weekend.

Edminston house could be sold to the supporters trust from their weekly donations or sold to a businessman who could redevelop it.

Both were not part of the original bundle of assets and were bought by Charles Green for under £500k, they will both go for half of that if they hit administration.

Murray Park will be next on the chopping block, there is, however, no one bidder who could take it on.

The SFA may well come and buy it from Sevco and use it for the national teams and farm it out to SPFL clubs from throughout the pyramid.

They could then lease it back 3 days a week to Sevco to help recover running costs as the owners become shared tenants.

Lastly is Ibrox, the best thing going for the 5-star stadium is that no one wants it and it will cost a fortune to tear down.

Asbestos removal cannot be done with a wrecking ball, to use the land it is on you have to spend more money than the land is worth on demolition.

If someone wanted to buy it to use, they would have to spend £20 million on getting it up to scratch.

Of course, if there is an administration event the administrators will value everything and lay the figures bare, that is to say, a complete assessment of the facilities at Govan.

Should Sevco go into administration it will have no effect on this years title, we won’t lose it to Them, Aberdeen maybe, but not Sevco.

What it will do is to strip away their assets and reduce them to a rump, Morelos will be up for grabs at £2 million and it will be pay cuts for the rest.

They got away with murder in 2012 claiming they were worth 80 million and 140 years old a few months after dying and being bought for £5.5 million.

This time around, Sevco will be ripped to pieces by the administrators, leaving them playing with a dilapidated squad in a dilapidated stadium training with their coats as goal posts.

Believe me, it has happened before.

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