King goes back to Ashley for more money

Many people did not see the point of the recent ‘interview’ in South Africa between Mr David Cunningham King and Mr Jim White.

It was an expensive trip for the people at Sky to finance and with little discernible news value in return for the outlay.

As I have already reported here an excellently placed source in Sky Sports News informed me that the main man at Sevco had provided some interesting information, on an ‘Off The Record’ basis before the trip was authorised.

There was the possibility that Mr White would have been able to exclusively reveal that Mike Ashley was about to invest £10m in Rangers International Football Club (RIFC).

As it turned out, no such claim was made on camera by Mr David Cunningham King.

However, today I learned, from a separate source, that there might have been some truth to this ‘Off The Record’ briefing.

Firstly, this is the same chap who originally alerted me to the fact that Mr King had met with Mr Ashley on Friday, June 12th (the same day as the RIFC EGM at Ibrox).

We will call this chap ‘Meeting Source One’ (MSO).

Then another source revealed (exclusively) to me that during the meeting Mr King offered to sell his equity in RIFC to Big Mike.

We will call him ‘Meeting Source Two’ (MST).

MSO and MST have never met and do not know each other, of that I am 100% certain.

However, they are both excellently positioned to know what is going on with the RIFC saga.

Hence my certitude about the events of June 12th.

Now I am being informed by MST that Mr David Cunningham King has been back in touch with the Ashley camp.

I understand that, just as with the meeting on June 12th,  Mr King has once more offered his RIFC shareholding to Mr Ashley.

The South African based entrepreneur has asked for the second £5m of the January 27th loan.

However, he has also asked the Ashley people for ANOTHER £10m.

This, of course, would bring the exposure of Big Mike to £20m.

It was pointed out to me by MST that a fresh infusion of £15m plus the Season Ticket money would allow auditors to sign off on the RIFC accounts.

Moreover, it is highly unlikely that they would contain a ‘Going Concern warning’ as they have in the past.

Mr David Cunningham King has also communicated his desire to have more loan players from Newcastle United this season.

I understand that the response heretofore from the Ashley camp has been non-committal.

Your humble correspondent would respectfully suggest that is because it is not Big Mike who is sweating.

As it stands, Sevco does not have money to see out the season.

Even a lengthy run in the coveted Petrofac Training Cup will not alter that reality.

This is why I am further informed that Mr David Cunningham King is currently thought to be at Ibrox “trying to solve the financial crisis”.

Developing story.

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