I have read and re-read this statement from Rangers International Football Club (RIFC) and the best that I can come up with is that the New Regime somehow spiritually owns the crests and trademarks.
Of course this communique from the New Regime should be chased up by sports journalists in Scotland (I Know I know).
The issue of the £5m that RIFC owe to Sports Direct is THE main issue and, there is no indication when this loan will be repaid.
I understand that Big Mike has had his people conduct an in-depth forensic investigation of the net worth of all the major players in the New Regime.
Sources tell me that Ashley understands that, for example, Mr George Letham has around another £600,000 readily available liquidity.
Mr Douglas Park, in Ashley’s estimation, has another £2.5m to contribute.
The picture with Mr David Cunningham King’s finances appear to be less clear.
So far the South African based entrepreneur has provided some fine words, but since buying shares in RIFC last December he has not stumped up any more cash.
Sources in the City tell me that the week after their triumph at the beginning of last moth chaps from the New Regime pounded the streets of the Square Mile looking for pounds.
At several conclaves, they were asked for a detailed business plan.
They had fine words that had a Charles Green ring to them about millions of fans worldwide, etc.
Once more the intrepid stenographers could be asking to see that detailed business plan.
As of this morning, I am hearing that RIFC are experiencing some issues apropos being accepted onto the ISDX.
However I, am sure that it will all be sorted out as soon as these financial types factor in the dignity factor.
Just like the fact that Sports Direct currently legally owns the crests and trademarks of associated with ‘Rangers’ another nice soothing statement will make it all go away.
However, I think that events that will unfold in the coming weeks that will show the utter hubristic folly of upsetting Mr Ashley.
For the avoidance of doubt, Big Mike is VERY upset about this Rangers business.
Taking a knife to a gunfight is always a bad idea, but the chaps in the Blue Room are about to find out that they have taken a toothpick to an artillery duel.