Noisy losers and quiet winners

History is usually written by the victors.

However at the moment the Sevco narrative is being constructed by the noisiest faction, which also happens to be the weakest financially.

Soon Mr David Cunningham King may get his wish and ascend the Marble Staircase in triumph. If this happens then there will be a distinctive cacophony of The People rejoicing.

Much blood will be waded in, but only of the Fenian variety, so that’s ok then dear reader.

You will note that there has been a marked absence of any charm offensive in the media by Big Mike and his guys in the Big House.

Meanwhile the stenographers gush about how brilliant Dave is to have bested the beastly Ashley.

The owner of Newcastle United Football Club has no intention of running Sevco into the ground.

His guys are there to make sure that the club and the company are on a self-financing basis.

To that end they have recently been trying to cut a deal with Mr Super.

However the astute tactician was not available to meet with Big Mike’s boys as he clearly does not want the grass to grow under him.

It is a further fragment of intel that Ashley’s guys are working on a long term plan for Sevco.

So far there is no hard evidence that Mr King has the cash or access to the cash that will, in the first instance, pay off the Ashley loan.

Of the first tranche of £5m three of that was gone very quickly as it was used to pay back another Ashley loan.

That left £2m dear reader.

To loosen Ashley’s grip on Sevco, in the first instance, Mr King would be well advised to pay off Big Mike immediately and in full.

Of course, that would not rid Sevco of the Onerous Contracts.

Mr Ashely is a beneficiary of some of them.

The rest be out there in the Sevco Triangle with Charlie and the boys.

Big Mike’s OnCons are entirely legal and legitimate.

So unless Ashley contracts Rangersitis and rips up these highly profitable deals then they remain in place no matter who is in the Blue Room.

The hacks are so excited about the prospect of Dave at the top of the Marble Staircase that they lost what little interrogative abilities they possessed.

Subsequently he has not had to field any difficult questions.

He has offered a risible narrative about “favourable settlement” and “my version prevailed” and the stenographers have swooned as they detected the heady aroma of lamb.

In the cheap seats The People dream of moonbeams and war chests.

In the here and now they have found their voice again and they tell the world about how good it is to wade in Fenian blood.

Things are coming into alignment.

Mr King and his associates, the lamb starved hacks and, of course, The People.

Meanwhile the Ashley camp is quite clear that the requisitioners do not have the wealth to buy them out.

I understand that recently Chairman David Somers has been quite Zen like as Derek Llambias puts things in front of him requiring his signature.

Contrary to some breathless stenography my sources inform me that the second tranche is being accessed.

As the agreement is already in place then there will be no need to inform the London Stock Exchange.

If Mr King ascends the Marble Staircase in ‘victory’ then he will find that the club and the company are deeply in debt.

Indeed they will be in hock to someone that they have been less than charitable about in public.

It is also worth remembering that these loans are secured against key assets.

Moreover, the lender controls several of the major income streams.

This is a strange type of ‘bloody nose’ dear reader.

However, when the victor remains silent, the losers can put their own spin on the impending defeat.

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