A problem shared

David Somers is not having a good time at the moment.

He now knows what it was like to shoulder the burden that Philip Tudor Nash had to endure while he was keeping the Ibrox shambles on the road.

In recent days he has been very keen to have a meeting with Mr Derek Llambias regarding the urgent cash flow situation at the mighty Glasgow Sevco.

That interaction finally took place last night.

It went a little something like this:

Mr Somers wanted to get a plan in place apropos funding the Ibrox operation in the months ahead.

Essentially Mr Somers was asking Mr Llambias to ask Mr Ashley for further cash.

Now I’m paraphrasing, but the man sent in by Big Mike gave his reply.

“I’ll ask, but that’s not an option for Mike at the moment.”

Despite this Mr Somers was keen that the question was asked of Mr Ashley.

The word came back this morning that further funding, by way of loans or any other way, is not currently an option.

In fairness to Mr Llambias I am told that he did not fancy this business venture from the start.

Moreover, he could not see what Mr Ashley saw in Sevco and he communicated that to David Somers very soon after Philip Nash had left the building.

Indeed if anything Mr Llambias has become more convinced that his original assessment was the correct one.

It is fair to say that the men sent in by Big Mike were rather surprised at the extent of the ‘Onerous Contracts’ that had been put in place by Charles of Normandy.

Meanwhile the pressure is on Mr Somers to keep the show on the road and I feel for him.

The situation is now very fluid.

If the accounts are indeed out tomorrow then do not expect anything other than a sea of red ink.

RIFC does not own anything except The Rangers Football club (formerly known as Sevco Scotland Limited) and we know from TRFC’s published accounts this year that they’re in bad shape.

Deloitte have their top UK team on this rather small business simply because of the negative publicity around it all.

If they do sign off then expect them to do walking away, that would be the smart move.

I would not fall off my chair here in Donegal if the players were approached soon to take a pay cut to keep the show on the road.

It had rather slipped my attention, but I was reminded today that Mr Imran Ahmad is due his out of court settlement this month and Graham Wallace is still awaiting his bonus payment.

The latter is the subject of some disagreement between the company and the ex-chief executive.

Sources tell me that Mr Somers has been seeking the company of colleagues at the Big House to share his concerns.

The thing is if you tell someone something in confidence then they sometimes tell other people and soon the whole place knows.

Philip Nash had a pet name for the stadium that John Brown played for.

“Walkabout Creek”.

They had the same system operating there for confidential information, so there is no need to feel like a Wally I suppose.

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