Share offer dead in the water?

Tonight there was a meeting of the top people in RIFC.

I can confirm now that the major shareholders have not taken up their options within the Open Offer.

Therefore I think it is safe to say that ,at time of writing , the attempt to raise just south of £4 million in this way is almost certainly dead in the water.

Despite much chatter over the last two days about an 11th hour Mike Ashley deal there was no mention of this at the meeting.

A well connected journalist who works for a national title told me earlier today that his sources inside Ibrox had told him that they were “worried” about the club’s ability to make payroll.

I think this story is now beyond the Denial part.

In the Five Phases of Sevco we are now at the Anger stage.

On Clyde 1 Super scoreboard tonight this chap seemed to be very well informed (scroll to 13.30 to hear Brian from Cumbernauld) .

Moreover he appeared to be very clear about the political and financial realities RIFC.

What he demonstrated on live radio was the true cost of being emotionally tied to the creature created by Charles of Normandy.

As long as folk believe that what is currently operating at Ibrox is Rangers (1872-2012) then there is money to be made from them.

Lots of money…

As we stand today this loss making business without a credit line from a bank is in desperate need of funds.

There can be no denial about that.

Leave a Reply