Celtic fans often refer to Rangers as "Sevco" to emphasize their belief that the current club is a new legal entity, rather than a direct continuation of the original Rangers Football Club that went into liquidation in 2012. This term stems from the initial name of the holding company that acquired the assets of the old club.
The Origins of "Sevco"
The use of "Sevco" by Celtic supporters is rooted in the dramatic financial collapse and subsequent restructuring of Rangers Football Club in 2012.
- Financial Collapse: The original Rangers Football Club (often referred to as Oldco Rangers) entered administration in February 2012 due to severe financial difficulties, including a significant tax bill.
- Liquidation: By June 2012, the company operating Rangers FC was formally placed into liquidation. Its assets, including the stadium and training ground, were then purchased.
- The New Entity: A new company, originally named Sevco Scotland Ltd., was formed to acquire these assets and allow the club to continue playing. This company later changed its name to The Rangers Football Club Ltd. and was granted associate membership of the Scottish Football League (SFL), starting in the lowest professional tier, Division Three.
The Derogatory Connotation and Rivalry Impact
For many Celtic fans, and some neutral observers, the liquidation of Oldco Rangers and the subsequent creation of Sevco Scotland Ltd. meant that the original club ceased to exist as a legal entity. Therefore, in their view, the current Rangers club is a "new club" or "Newco," distinct from the one founded in 1872.
- Identity Debate: The term "Sevco" is used to challenge the claim that the current club is the same unbroken entity. This perspective highlights a fundamental difference of opinion regarding the club's history and identity.
- Rivalry Intensification: This difference of opinion has become a significant factor in the heated Old Firm rivalry. Adherents of this view often derogatorily refer to the club as 'Sevco' (the original name of the post-2012 holding company), and Rangers supporters as 'zombies' or 'the undead', in a jab at the club's perceived 're-birth' from liquidation.
Key Terms and Their Significance
| Term | Description | Significance in the "Sevco" Context |
|---|---|---|
| Oldco | Refers to The Rangers Football Club plc, the company that operated Rangers FC before its liquidation in 2012. | The entity that Celtic fans believe ceased to exist. |
| Sevco | The original name of the company that acquired the assets of Oldco Rangers after its liquidation. It later changed its name to The Rangers Football Club Ltd. | The name used by Celtic fans to signify the 'newness' of the current club. |
| Newco | A general term used to describe the new company formed to take over the assets of a liquidated entity. In this context, it refers to the post-2012 Rangers. | Reinforces the idea that the current club is a distinct, new entity. |
| Liquidation | The process by which a company is brought to an end, and its assets are distributed. In 2012, Oldco Rangers was liquidated. | The legal event that, for some, marked the end of the original club. |
In essence, calling Rangers "Sevco" is a deliberate act by Celtic fans to question and undermine the continuity claims of the Ibrox club, rooting their argument in the legal and financial events of 2012.
