Gunfight at the Ibrox corral

After lots of jaw jaw Big Mike decided to call time on the hot air brigade.

Quite simply Ashley just upped the ante.

Last night in the Bleak Big House Mr Derek Llambias was the purveyor of some grim news.

In fairness to Alexander Easdale the Greenock guy explained to Ashley’s man that this was a bridge too far for the fans.

For the supporters Ibrox stadium is not an asset, but the home of their club.

Despite a fair and free exchange of views Sandy tried to make sure Llambias grasped the severity of the situation.

However Big Mike had already decided and that was that.

Essentially Ashley has called out all of the protagonists in this saga.

I am told that the £10m is a realistic figure apropos the immediate hole that Sevco find themselves in.

It should be noted that this does not include £3m that he is already owed by the newest senior football club in Glasgow.

Moreover this £10m is a credit line that can be accessed all at once or in tranches as it is required

At time of writing Big Mike does not has any ongoing agreement with Charlie and his offshore chums.

Subsequently this is a pivotal moment in the drama.

Mr King and his hibernating associates can either put up or Do Walking Away.

As for that pesky Off The Books Debt, I understand that it is just north of £8m, but less than £9m.

Moreover, I am told that it only emerged as an issue in late November or early December.

This Off The Books Debt does explain why the Ashley camp did not press the Administration button once they had gained effective control of the RIFC board.

Had an insolvency event been triggered then these shy off shore chaps could have stepped up as the largest creditor and that would have been unfortunate for Big Mike.

My understanding is that there has been a payment missed which could mean that the entire amount has been called in.

That would certainly explain the anxiety levels of some major figures in the Sevco saga recently.

Of course the ideal scenario for the offshore chaps was for Ashley to buy them out completely; their shareholding in RIFC and the Onerous Contracts.

However the SFA put a stop to the first part of any prospective deal.

As for the champions of The People, well it is starting to look that Mr King and his furry friends took a knife to a gunfight.

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