A case study in hubris

It is a probably not a good idea to mount a hostile takeover if you have to go back to the losing side and ask them for a handout.

Particularly if the vanquished lot have been very publicly traduced by your pet churnalists.

However, that is what has effectively happened.

That this dissing was done to please the occupants of the cheap seats at Ibrox is beside the point.

What is important to understand is that the Sevco Sitcom is now off script with some of the main protagonists desperately ad-libbing in front of an increasingly bemused audience.

For the avoidance of doubt, I have no idea where this shambles goes next.

However, what is certain is that the New Regime urgently needs external finance for the coming season.

Moreover, the folk in the corporate finance sector are not interested.

For the avoidance of doubt, the chaps in the Square Mile are not emotionally moved to altruism by Rangersness.

All they see is a company that went through a limo load of CEOs and NOMADS before being delisted.

Oh and their auditors jumped ship too.

Add to that shambles the fact, and it is a fact, that the new chap in charge is a convicted criminal, and you get the picture.

Senior RIFC people recently consulted with a top notch contract lawyer in London.

They wanted to see if there was any way out of the retail deal with Big Mike.

Sadly, they were told to forget about it as the deal, in the opinion of the very expensive legal chap, is legally impregnable.

That means that the New Regime must run the show effectively with little or no income from merchandising for the next seven years.

Their only other option is to buy out that contract from Big Mike and they know that the cost of that is in the region of £27m.

Therefore, RIFC will have to run the Ibrox franchise without a vital commercial revenue stream.

Subsequently, the Season Ticket pot becomes more central the sustainability of the operation.

That means that The People who are considering buying their seat at the Big House are currently the target of an aggressive marketing campaign that is masquerading as honest journalism.

Of course, this has happened in previous seasons and all clubs, to an extent, indulge in it.

However, with the New Regime this has been raised to a new Level.

It seems that the plan, if it can be called that, was that the euphoria of expelling Ashley’s men from Ibrox last March would trigger a tidal wave of emotionally driven investors.

Mr David Cunningham King on more than one occasion spoke of the need for ‘soft investment’.

Well, this has palpably not happened.

Any mutinous stenographer out there, suitably backed up by a courageous editor, would be serving the Public Interest on Planet Fitba if they interviewed Mr Douglas Park.

He is clearly the richest of the Three Bears, and it would be worthwhile to ask if he is still in the game.

I’m pretty sure that Mr David Cunningham King has said that he would bankroll the operation providing 50% of the necessary external finance.

So far that has not happened.

If it had occurred and he had stumped up the cash, then we would know about it by now.

Indeed, remote villages in Kazakhstan would have heard about it!

However, instead we have the silence of the stenographers on these issues.

As they obediently await the next press release or private briefing they churn out another feel-good narrative to the Season Ticket buying classes.

If this situation was part of the Grand Plan, then I cannot see how intelligent people could have drawn this up unless they had abandoned their critical faculties for emotional reasons.

Instead, I think that they thought that ‘Real Rangers Men’ in charge of Ibrox would, somehow, make it all right on the night.

Years after this the Sevco Kool-Aid will leave a bitter after taste for those who imbibed this hallucinogenic brew.

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