Seconds out

It has been a busy few days for the chaps in the Light Blue corner.

Mr David Cunningham King did not expect to be in the UK as early as this or to have to attend meetings.

However he did do just that.

He had expected his local fixer Paul Murray to put everything in place and to that end Mr George Letham and Mr Paul Murray recently met with Laxey Partners.

The Isle of Man registered hedge fund no longer has any skin in the Sevco game, but they do have information.

Sources close to that meeting tell me that Philip Tudor Nash sat in on it with Letham and Murray.

The ex-RIFC Chief Financial Officer and Company Secretary brought them up to speed to the best of his knowledge.

I understand that Letham and Murray then met with the remaining Institutional Investors.

In fairness the consensus from these meetings is that these Rangersness chaps are carrying out their due diligence to the best of their abilities.

It is fair to say that the King group now know pretty much everything there is to know about the state of RIFC/TRFC right up to the point where Nash left and the Ashley regime  began in earnest.

One interesting vignette from one of those meetings was that the City chaps did not think that Mr Letham and Mr Murray had full confidence in Mr King.

However they could just be reading the body language wrong, so I wouldn’t’ necessarily put much store by that.

The Institutional Investors put it to Paul Murray that his inclusion as a prospective board member for RIFC caused problems.

The Square Mile chaps cut to the chase and put it to Murray and Letham that their whole marketing strategy was predicated upon the assertion that RIFC/TRFC was Rangers (1872).

Sources inform me that Mr George Letham admitted that Sevco (he did not use that word) was a new entity, but as a supporter for him it was a team in light blue playing at Ibrox.

In that case, he was told, Mr Murray could not be involved.

I understand that Mr David Cunningham King was not as these meetings, but did meet with the same Square Mile chaps on his own later.

During their meetings Letham and Murray were asked about the ‘fit and proper’ issues apropos King.

At the presser today the South African based entrepreneur stated that it was not a question of “driving Mike Ashley out”.

That’s just as well, because he simply cannot.

The Sports Direct magnate is increasing his control of Sevco with each passing day.

By the time that the EGM happens then Big Mike’s power at Sevco might well be unassailable.

That is certainly his plan.

Do not be surprised is the Sports Direct heavyweight lands a knock out blow.

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