Ibrox confidential

Can I tell you something in confidence?

I can?

Oh good!

Those RIFC chaps wanted to gag Mr Super, but he was having none of it.

He was graciously willing to accept only £400k as a payoff, albeit in staged payments.

However the confidentiality agreement was unacceptable to him.

I understand that Mr Super is being advised by James Traynor and Walter Smith.

So Mr Super remains in the Sevco dugout.

Another issue is that the Sevco dugout would still have two high earning chaps   selected by Mr McCoist.

If Ally is being paid off then a question remains over Kenny McDowall and Ian Durrant.

If Mr Super left and a new manager came in on sensible terms  then he would almost certainly be paid less that the remaining number two and number three in team McCoist.

At time of writing it appears that Big Mike will invest in an internal Shareholder Share Option.

This, I am told, could mean that there will n-be no need for an expense prospectus.

A veteran political correspondent and battle scarred Jambo described the Sevco situation to me yesterday morning as a “…horrible slow motion car crash”.

I passed this observation onto a Square Mile chap who has been looking in on this omnishambles demurred slightly.

“Well it is a car crash, but were the car crashes into the wall, reverses and then drives back into the wall at high speed, reverses again and….”

I got the idea.

They had both asked whey what I thought would happen next and I had to break the news to them that I was all out of prescience.

The only factor worth considering is what Mr Ashely decides to do.

If he walks then I cannot see the mighty Glasgow Sevco from imploding into a death spiral of insolvency.

The future of RIFC/TRFC now hinges on what Mr Ashley wants to do.

It really is as simple as that.

He will, of course, take the counsel of trusted confidantes like Mr Llambias, but in the end the decision will be his and his alone.

At time of writing his preferred option seems to be to take up an internal share option of, perhaps, some £6m.

Player trading in the January window would make up the other £2m.

Yes yes I know dear reader that this entirely speculative scenario does not involve a War Chest.

If Big Mike does buy into the share option then he could end up in the Dermot Desmond situation of being the main shareholder, but not the formal owner.

29% shareholding is the magic figure.

The following scenario would be, I think, pleasing to Big Mike.

He does a deal with Charlie and his offshore buddies regarding the Onerous Contracts.

Until they are gone RIFC is hamstrung.

Puma and 32Red leave the stage and his Sondico brand makes the kit and Sports Direct is on the shirts.

The only Onerous Contracts (sic) would be those that are beneficial to Mr Ashley’s empire.

There are people of the brogue persuasion who want Ashley to fail and it is true that Big Mike cares little for the sensitives of The People

If you doubt me visit the online battalions of the Toon Army.

This car crash of a football club is starting now to look like a motorway pile up.

The SPFL are withholding £250k, Neil Alexander has won his claim and BDO are on Sevco’s case.

I spoke to a TV journalist today who was on his normal pitch, outside Argyle House awaiting the next episode of this soap opera.

I said that if , in a parallel universe, I were advising Mr Super then I would tell him to walk out the door for free.

No confidentiality clause would mean that a stonking book deal would be offered by several publishers.

However it would appear that Mr Super wants a payoff and the freedom to speak of his ordeal at Sevco on £750k pa.

Now keep this to yourself.


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